Market Research Blog – New Product Development

Surging Demand for Eco-Friendly Hot Melt Adhesives Fuels USD 12,675.7 Million Market Growth by 2032

The global hot melt adhesives market size is anticipated to create a lucrative growth opportunity in the global landscape by registering a CAGR of 5.3%, from 2022 to 2032. The market is expected to reach a valuation of USD 7,562.9 Million by the end of 2022 and is predicted to reach USD 12,675.7 Million by 2032.

Over the historical period, the global hot melt adhesives market witnessed a CAGR of 4.8% between 2014 to 2021. The manufacturing activities have been reduced and significant reduction has been witnessed in the product capacities, part-time shifts, as well as introduction of automated production machinery, let manufacturers improve their market positions. These aforementioned factors are expected to drive the hot melt adhesives market during the forecast period.

Several regulatory bodies including the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the Environmental Protection Agency (EPA) are expected to take more steps in order to limit the use of solvent-based adhesives which helps in reducing their negative impacts on the environment. These factors are likely to drive the global hot melt adhesives market in the upcoming decade. As per FMI, the market is estimated to exhibit a CAGR of 5.3% from 2022-2032.

Key Takeaways

Renewable resources-based hot-melt adhesives comprise several benefits due to which they are rapidly being replaced by petroleum-based. Renewable resources-based hot-melt adhesives are inexpensive and have properties that match or exceed those of polymer-based adhesives. Prominent companies in the market are partnering with local firms in order to meet the growing demand for bio-based adhesives.
About two-thirds (60%) of renewable plant-based raw materials composition is extracted from plants. Key leading players are focusing on developing bio-based hot melt adhesives to meet the growing consumer demand and keep up with regulatory compliance. Commencing with the consumer packaging applications including end-of-line and labeling, bio-based hot melt adhesives are expected to gain traction.
The trend of do-it-yourself (DIY) is gaining momentum in both developed and developing countries. There are a variety of materials and surfaces that can be effectively glued by hot melt adhesive glue such as ceramics, fabrics, paper, cardboard, metals, and plastics, thereby making it ideal for DIY applications and DIY projects.
DIY being a relatively new term has gained traction across various developed countries such as North America and Europe. Owing to the easy availability of hot melt adhesive pens across these regions would aid growth. In addition to that, in the U.S. and Europe, the cost of labor is higher resulting in higher installation costs. Attributed to this, DIY methods for regular repairs and maintenance are popular in developed countries.
Hot melt systems are the most cost-effective on the basis of space and personnel requirements. As a result, it is not needed to operate large-scale drying and curing furnaces and pollution control equipment at a high cost. Like solvent-based systems, hot melt adhesives eliminate the need for solvent recovery and incinerators.
Solvent-free, bio-based melt adhesives are surging in the market from manufacturers of packaging solutions, disposable sanitary products, furniture & woodwork, automotive & transportation, and footwear are projected to drive the hot melt adhesives market.

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Competitive Landscape

In order to elevate their annual turnover and fortify their market positions worldwide, leading manufacturers in the market are purchasing small-scale market players. To efficiently meet the rising demand and thrive in the highly competitive market, key participants are also concentrating on mergers and expansion activities.

Arkema
Avery Dennison Corporation
Beardow & Adams (Adhesives) Ltd.
DOW Inc.
HB Fuller Company
Henkel AG & Co. KGaA
Jowat Se
Sika AG
Tex Year Industries Inc.
Adhesive Direct UK
Adtek Malaysia SDN BHD

Hot Melt Adhesives Market Outlook by Category

By Polymer Base:

Ethylene Vinyl Acetate
Polyolefin
Polyamide
Styrenic Block Copolymers
Polyurethane (PU)
Others

By End Use:

Packaging Solutions
Disposable Hygiene Products
Furniture & Woodwork
Automotive & Transportation
Footwear
Textile
Electronics
Bookbinding
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Asia Textile Chemicals Market Projected to Hit USD 24,600 Million by 2033 Amid Rising Demand and Sustainability Trends

According to a recent analysis report by FMI, the asia textile chemicals market has seen significant growth, registering a 7.4% increase from 2017 to 2022. In 2023, the market’s overall valuation has reached nearly USD 14,200 million. Looking ahead, the market is expected to grow at a rate of 6% from 2023 to 2033, reaching an estimated valuation of USD 24,600 million by 2033.

This expansion is driven by the growing demand for apparel, technical textiles, home textiles, and other textile products. As the population continues to rise, the increasing need for clothing and other textile items is expected to boost the demand for textile chemicals, challenging the industry’s manufacturing capacity.

The recent rise of the textile chemicals business has been driven supported by an increase in the textile industry, shifting fashion trends, and a preference for home décor and furnishing around the world. Moreover, the application of these chemicals in flooring and construction purpose has linked the Asia textile chemicals market growth with the infrastructure and real estate business as well.

Nevertheless, as the market product’s application breadth expands, customer preferences for bio-chemicals with similar qualities are expected to fuel development and limit the Asia textile chemicals market growth to certain degrees. Furthermore, the rising consumption of technical textiles in the automotive industry is likely to present new opportunities for market players in Asia.

Also, global commerce is becoming more difficult as a result of the recession in several nations, resulting in currency swings. The Eurozone crisis and the trade war of China with the US are two other key difficulties confronting the textile chemicals sector.

Key Takeaways from the Asia Textile Chemicals Market

China is the leading country in the Asia textile chemicals market and contributes to almost 58.5% of the total sales achieved per year which can be translated to USD 4 8.306 Million.
India is the second largest contributing regional textile chemicals market with a share of 12.6% in the Asia Market which is equal to USD 1,796 Million in the present year 2023.
Other Major regions surveyed by the report like Bangladesh, Vietnam, and Indonesia are found to be holding shares of 4.6%, 4%, and 3% respectively.
Japan is another significant contributor to the Asia textile chemicals market, particularly in Technical textiles manufacturing and sales.

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Competitive Landscape for the Asia Textile Chemicals Market Players

The Asia textile chemicals industry is dominated by a number of small regional players as well as large-scale producers and suppliers competing at the global level. The majority of textile chemicals companies are implementing new strategies and tactics through extensive R&D, mostly to meet the evolving needs for eco-friendly chemical

Recent Developments in Asia Textile Chemicals Industry

Solvay S.A.’s incorporation in January 2021 said that it will begin establishing a close circular economy utilizing blockchain payment technology. The system can be used to store, exchange, develop, and trace product details from feedstock producers’ sources to end consumers.
In October 2020, TANATEX Chemicals B.V. joined forces with other top textile firms to drive textile sector sustainability. The collaboration’s goal was to create sustainable chemicals for the textile sector.
Pulcra Chemicals bought Devan Chemicals, which is a textile chemicals firm, in July 2021. Devan Chemicals Company is well-known for its Bi-Ome antibacterial spectrum, and long-standing leadership in thermoregulation and flame retardant textiles.

Textile Chemicals Market by Category

By Product Type:

Textile Auxiliaries
Textile Colorants

By Process Type:

Pre-Treatment
Dyeing
Finishing
Others

By Application:

Apparels
Home Furnishings
Others

By Country:

China
India
Bangladesh
Vietnam
Indonesia
Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Super Absorbent Polymer Industry size estimated to be USD 18.23 billion by 2034

One significant driver for the SAP industry is the augmenting demand for hygiene and personal care products globally. With the surge in hygiene awareness and growing populations, particularly in emerging economies, the demand for these products is expected to drive the growth of the SAP market.

The super absorbent polymer industry size is expected to be valued at USD 10.7 billion by 2024. The valuation of the market is estimated to be USD 18.23 billion by 2034, projected at a CAGR of 5.40%.

Concerns regarding non-biodegradability and potential pollution pose challenges for market growth, especially in regions where ecological sustainability is a priority. Addressing these concerns and developing eco-friendly alternatives are essential for mitigating this restraint and sustaining market growth.

Despite these challenges, there are significant opportunities for the SAP industry, particularly in agriculture and water management. Bio-based SAP innovations offer manufacturers opportunities to meet the increasing demand for environmentally friendly products and capitalize on emerging market trends.

As environmental concerns gain prominence, there is a growing focus on developing SAPs from renewable and biodegradable sources, such as starch-based polymers or cellulose derivatives. This trend aligns with consumer preferences for eco-friendly products and supports the industrial transition towards sustainability.

Key Takeaways from the Market Study

Under application, the disposable diaper segment is accounted to hold a market share of 76.5% in 2024.
China is expected to register at a CAGR of 6% by 2034.
India registers significant growth, projected at a CAGR of 8% by 2034.
Based on the product type, the sodium polyacrylate segment is accounted to hold a market share of 68% in 2024.

“The surge in demand for hygiene and personal care products globally due to the rise in population growth and hygiene awareness, a corresponding surge in the use of disposable diapers, feminine hygiene products,. can be seen pushing the super absorbent polymer market,” comments a Future Market Insights analyst.

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Competitive Landscape

In the competitive landscape of the super absorbent polymer (SAP) industry, established players dominate with extensive product portfolios and global reach.

Startups innovate with niche solutions, while differentiation through product quality, cost-effectiveness, and sustainability is crucial for success in this dynamic market driven by hygiene and personal care demands.

Key Companies Profiled

Nippon Shokubai Co., Ltd
Evonik Industries AG
BASF SE
Kao Corporation
Sumitomo Seika Chemicals Co. Ltd.
Sanyo Chemicals Industries, Ltd.
LG Chemicals Ltd
Yixing Danson Technology
Zhejiang Weilong Polymer Material Co., Ltd
Quan Zhou Banglida Technology Industry Co., Ltd.
Shandong Nuoer Biological Technology Co., Ltd.
Wanhua Chemical Group Co., Ltd
Sinofloc Chemical Ltd.
Formosa Plastic Corporation
Songwon Industrial Co. Ltd.

Some of the key developments are

In 2022, Formosa Plastic Corporation announced a significant expansion of its super absorbent polymer (SAP) production capacity to meet growing demand. The development underscored the company’s commitment to meeting market needs and strengthening its position in the SAP industry.
In 2022, Songwon Industrial Co. Ltd. unveiled a breakthrough innovation in biodegradable SAP technology, offering a sustainable alternative to conventional SAPs. This advancement aligned with the focus on environmental sustainability and positions Songwon as a leader in eco-friendly SAP solutions.

More Valuable Insights Available

Future Market Insights offers an unbiased global super absorbent polymer market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand market opportunities, the super absorbent polymer market is segmented based on Product (Sodium Polyacrylate, Polyacrylamide Copolymer, Others), Application (Disposable Diapers, Adult Incontinence Products, Feminine Hygiene Products, Agriculture Products, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)

Key Segments

By Product:

Sodium Polyacrylate
Polyacrylamide Copolymer
Others

By Application:

Disposable Diapers
Adult Incontinence Products
Feminine Hygiene Products
Agriculture Products
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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India Construction Chemical Industry to Surge: Projected USD 15,287.7 million by 2034 at 13.4% CAGR

The India Construction Chemical Market is experiencing a surge in demand, fueled by rapid urbanization, infrastructure expansion, and evolving construction practices. According to the latest industry insights, the market size is expected to grow from USD 4,350.8 million in 2024 to an impressive USD 15,287.7 million by 2034, reflecting a compound annual growth rate (CAGR) of 13.4%.

This growth trajectory is aligned with the Indian government’s emphasis on infrastructural projects such as Smart Cities, affordable housing, and sustainable urban development, alongside the construction sector’s shift toward more durable and environmentally friendly materials.

Understanding the India Construction Chemical Market

The India Construction Chemical Market refers to the range of chemical products specifically designed to enhance the quality, durability, and sustainability of construction projects. These chemicals are used in various applications, such as building, infrastructure, and industrial projects, providing solutions that improve performance, reduce costs, and address environmental concerns.

Construction chemicals play a vital role in improving workability, increasing strength, and protecting buildings and infrastructure from environmental factors like corrosion and weathering. Some of the prominent products in this market include concrete admixtures, waterproofing chemicals, sealants, adhesives, flooring compounds, and repair materials.

The adoption of construction chemicals is growing rapidly across India, with increased awareness of their role in improving construction quality and lifespan. Modern construction practices, particularly in urban centers, are increasingly reliant on these chemicals to meet stringent quality and safety standards.

India Construction Chemical Market Value and Growth Projections

As of 2024, the India Construction Chemical Market is valued at USD 4,350.8 million. However, with sustained growth and rising demand across multiple sectors, it is forecasted to reach USD 15,287.7 million by 2034. This remarkable growth, driven by a CAGR of 13.4% over the forecast period, underscores the sector’s expanding role in India’s construction landscape.

Several factors are contributing to this upward trajectory, including the country’s burgeoning population, increasing urban migration, and growing investments in infrastructure development. Moreover, government initiatives such as the ‘Housing for All by 2022’ mission, the National Infrastructure Pipeline (NIP), and the Smart Cities Mission are expected to further drive demand for construction chemicals.

These chemicals are essential for constructing high-quality, sustainable infrastructure that can withstand India’s diverse and sometimes harsh climate. The sector’s growth is also being propelled by the rising importance of green building materials, as sustainability becomes a core concern for builders and developers.

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Prominent Drivers of the India Construction Chemical Market

Several key drivers are fueling the growth of the India Construction Chemical Market:

Rapid Urbanization and Infrastructure Development: With India’s urban population projected to grow exponentially in the coming years, the demand for modern infrastructure, including residential, commercial, and industrial buildings, will increase. Construction chemicals, particularly admixtures, and waterproofing solutions, will play a crucial role in these developments.
Government Initiatives: Major government programs such as Pradhan Mantri Awas Yojana (PMAY), the Smart Cities Mission, and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) are creating significant demand for construction chemicals. These programs prioritize the creation of resilient and sustainable urban infrastructure, encouraging the use of high-performance materials.
Focus on Sustainability: There is growing awareness among builders and developers regarding sustainable construction practices. Green building materials, including eco-friendly construction chemicals, are gaining traction. These chemicals improve energy efficiency, reduce carbon emissions, and ensure the longevity of buildings.
Technological Advancements: The integration of advanced technologies like nanotechnology and polymer chemistry in construction chemicals is enhancing the performance of products like sealants, adhesives, and coatings. These innovations are helping builders meet the rising demand for durable and cost-effective construction solutions.

Leading Construction Chemical Brands in India

Pidilite Industries Ltd.
Dow Inc.
Asian Paints Ltd.
Fosroc Chemicals India Pvt. Ltd.
Berger Paints India Ltd.
BASF SE
Saint-Gobain S.A.
ACC Ltd.
Sika AG
Ultratech Cement
Thermax Ltd.
Akzo Nobel N.V.
Cera-Chem India Private Ltd.
MYK LATICRETE India
Somany Ceramics
Mapei SpA
Chembond Chemicals Ltd.
Ardex Group
CICO Technologies Ltd.
KERAKOLL India Pvt. Ltd.

Challenges Faced by the India Construction Chemical Market

Despite the strong growth prospects, the India Construction Chemical Market faces several challenges that could impact its expansion:

Lack of Standardization: The absence of standardized guidelines and regulations for construction chemical usage in India poses a significant challenge. This often results in inconsistent product quality and limited awareness among construction professionals about the proper use of these chemicals.
Price Sensitivity: While construction chemicals offer long-term cost benefits, the initial investment required for their use can be a barrier, especially in price-sensitive markets. Small-scale builders may hesitate to adopt these products due to higher upfront costs compared to traditional materials.
Low Awareness and Skilled Workforce: Although the benefits of construction chemicals are well-known globally, many local contractors and builders in India are still unaware of their advantages. Moreover, the market suffers from a shortage of skilled workers who are trained to apply these chemicals correctly.
Environmental Concerns: The construction industry is under increasing pressure to minimize its environmental footprint. While construction chemicals can help reduce emissions, their production and disposal processes can sometimes contribute to pollution if not managed responsibly.

Future Outlook

The India Construction Chemical Market is set for substantial growth, with opportunities across various segments, including residential, commercial, and industrial construction. With urbanization, government-backed infrastructure projects, and a rising focus on sustainable building materials, the market is poised to be a critical player in India’s future development.

As the industry evolves, addressing the challenges of standardization, awareness, and environmental impact will be key to unlocking the full potential of construction chemicals in India. With continued innovation and investment, the market is well-positioned to meet the growing demand for high-performance, sustainable construction solutions.

Key Segments of Industry Report

By Product Type:

A few product types included in the study are concrete admixture, waterproofing chemicals, adhesives and grouts, sealants, repair and rehabilitation, flooring compounds, protective coatings, plaster, and asphalt additives. Concrete admixtures are further segregated into plasticizer, accelerator, retarder, and air entrained. Waterproofing chemicals are divided into bitumen, polyurea, self-leveling system (cementitious and epoxy), PVC, EPDM, TPO, PTFE, silicon, acrylic polymer, styrene-butadiene, cementitious membrane, PU membrane (liquid-applied membrane), crystalline, and additives. Adhesives and grouts cover tile adhesive (cementitious and dispersion and resin), tile grouts (cementitious and epoxy), and masonry mortar and plaster.

Sealants encompass silicon, MS hybrid, polyurethane, weatherproof silicon, and polysulfide. Repair and rehabilitation products consist of cement-based, epoxy-based, micro concrete, composite carbon and glass fiber wrapping systems, and carbon laminates. Flooring compounds include floor hardeners, epoxy- and PU-based floor coatings and toppings, and cementitious/epoxy/PU screeds. Protective coatings cover epoxy, polyurethane, bituminous, acrylic, alkyd, and polyester. Plaster is bifurcated into cement-based and gypsum-based.

By Application:

Infrastructure, commercial and industrial, and residential are the key application areas.

By Region:

Regions considered in the study include North India, West India, South India, and East India.

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Biobased Biodegradable Plastic Market to Reach USD 13.6 billion by 2033 Amid Rising Demand for Sustainable Packaging Solutions

The biobased biodegradable plastic market size, valued at USD 5.2 billion in 2023, is poised for significant growth, expanding at a compound annual growth rate (CAGR) of 10% over the next decade. This growth trajectory is expected to propel the market to a valuation of approximately USD 13.6 billion by 2033. The increasing global focus on sustainability and the reduction of plastic waste are driving the demand for eco-friendly alternatives, contributing to the robust expansion of the biobased biodegradable plastics sector.

Growing public awareness of plastic waste and its negative environmental impact has resulted in an increased popularity of biobased biodegradable polymers. Customers as well as companies are looking for sustainable options that decrease plastic waste and protect the environment.

Globally, rigorous laws and regulatory frameworks are prohibiting single-use plastic and encouraging the usage of biodegradable materials. Adherence to these rules is a primary motivator, driving firms to use biobased biodegradable polymers for a variety of uses.

Many corporations are implementing biobased biodegradable polymers as an aspect of their corporate social duty programs. Sustainable practices in company practices improve the brand’s reputation and fulfill the needs of environmentally conscious customers.

Persistent bioplastic technological advancement is resulting in the invention of new and affordable recyclable materials. Manufacturing methods and material composition breakthroughs have broadened the practical usage of biobased biodegradable polymers.

Client preferences are evolving and there is a burgeoning eco-conscious customer base. Customers are favoring biodegradable plastic in items and packaging, prompting businesses to spend on those substances and fueling market growth.

Sustainability issues, tough restrictions, and customer preference for environment-friendly alternatives are driving considerable growth in the biobased biodegradable plastic industry in the United States.

The market has been propelled further by increasing public consciousness of plastic waste and an increasing focus on business sustainability practices.

The proactive involvement of the United Kingdom in Circular Economy frameworks has stimulated the emergence of bioplastic recycling facilities, offering new market prospects. Leading brands and retailers are switching to recyclable packaging, which is boosting the industry’s development.

Key Takeaways

The United States is estimated to be valued at US$ 1.2 billion by 2033.
The market in the United Kingdom is predicted to expand at a 9.6% CAGR from 2023 to 2033.
The biobased biodegradable plastic market in the United Kingdom is projected to reach US$ 400 million by 2033.
The biobased biodegradable plastic market in China is anticipated to be worth US$ 1.4 billion.
The market in China is expected to record a CAGR of 10.1% through 2033.

“Partnership between the public and business sectors is going to encourage research and provide a steady supply of novel biodegradable products. Market dominance in emerging nations, combined with increased awareness of ecological issues globally, is expected to fuel market growth,” says an FMI analyst.

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Competitive Landscape

Competitiveness in the market fluctuates from minimal to considerable depending on area. Because of the enormous number of participants in Europe and North America, competition is moderate. On the other hand, due to limited market participants, competition in Asia Pacific is minimal.

Key market players are investing heavily in research and development to introduce revolutionary biodegradable plastic materials that are both sturdy and easily recyclable in the natural environment.

Futerro declared plans in December 2022 to build an initial vertically linked biorefinery in Europe in Normandy, France, for the manufacture and reusing of PLA.
NatureWorks held a ceremony in February 2023 to commemorate the completion of the organization’s Ingeo PLA production complex in Thailand.

Leading Players

BASF SE
Plantic Technologies
Toray Industries
Total Corbion PLA
Natureworks
Biome Bioplastic.
Bio-On
Mitsubishi Chemical Corporation
Danimer Scientific
Novamont S.P.A.

Biobased Biodegradable Plastic Market Report

Future Market Insights, in its new offering, presents an unbiased analysis of the global biobased biodegradable plastic market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.

The study reveals essential insights by Product Type (polyester, starch blends, poly lactic acid (PLA), cellulose, polyhydroxyalkanoate), Application (packaging, fibers, healthcare, agriculture, others), and Region.

Segmentation Analysis of the Biobased Biodegradable Plastic Market

By Product Type:

Polyester
Starch blends
Poly lactic acid (PLA)
Cellulose
Polyhydroxyalkanoate (PHA)
Other biobased biodegradable plastic

By Application:

Packaging
Fibres
Healthcare
Agriculture
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa

About Future Market Insights (FMI)

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Asia Pacific Flexible Glass Market Poised for Exponential Growth with a Projected CAGR of 36.5% from 2020

Flexible Glass for Flexible Electronics Market

The Asia Pacific flexible glass market is set for remarkable growth in the coming years, driven by its wide range of applications in high-tech industries and rapid technological advancements. With an initial market value of USD 612.7 million in 2020, the market is projected to experience an impressive compound annual growth rate (CAGR) of 36.5%, underscoring the potential for further market expansion across the region. This growth trajectory is driven by increased demand for flexible, lightweight, and durable materials across several sectors, including consumer electronics, automotive, and energy industries.

Understanding the Asia Pacific Flexible Glass Market

Flexible glass is a revolutionary material that combines the strength and durability of conventional glass with the versatility of plastic-like flexibility. It is ultra-thin, highly flexible, and lightweight, making it a preferred material in industries where traditional rigid glass falls short. Its ability to withstand bending and twisting without breaking or cracking makes it especially suitable for applications in flexible displays, advanced touchscreens, curved solar panels, and wearable devices.

In the Asia Pacific region, the flexible glass market has gained traction due to the growing emphasis on innovation and cutting-edge technology, particularly in countries such as China, Japan, South Korea, and India. These countries are not only major electronics manufacturing hubs but also house a significant portion of the world’s largest consumer bases, contributing to the increased adoption of flexible glass solutions.

Asia Pacific Flexible Glass Market Value and Growth Projections

As of 2020, the Asia Pacific flexible glass market was valued at USD 612.7 million, and its growth projections are nothing short of remarkable. With a projected CAGR of 36.5%, the market is expected to continue on an upward trajectory throughout the forecast period, largely due to expanding consumer electronics and automotive industries in the region.

The development of advanced smartphones, foldable displays, wearable technology, and flexible photovoltaic cells are key sectors driving the demand for flexible glass. In addition, the rise of smart cities and the proliferation of IoT (Internet of Things) devices are likely to increase the need for durable, thin, and bendable materials. With China and South Korea at the forefront of innovation in flexible display technology, these countries are expected to contribute significantly to market growth.

The renewable energy sector is also playing a crucial role in boosting demand for flexible glass. As governments in the region prioritize clean energy, flexible glass is increasingly being used in lightweight, bendable solar panels, which are easier to install on unconventional surfaces, such as rooftops, and offer more flexibility in deployment.

Prominent Drivers of the Asia Pacific Flexible Glass Market

The Asia Pacific flexible glass market is being driven by several key factors:

Rising Demand in Consumer Electronics: Flexible glass is playing a pivotal role in transforming consumer electronics, with manufacturers continuously seeking ultra-thin and bendable materials to innovate new product designs. Smartphones, foldable displays, and wearable devices are some of the prominent applications where flexible glass is making a significant impact. The increasing popularity of foldable smartphones, in particular, is fueling demand for flexible glass as it provides both aesthetic and functional benefits over rigid alternatives.
Automotive Industry Expansion: The automotive sector in the Asia Pacific is witnessing substantial growth, and flexible glass is finding new applications in the development of advanced automotive displays and curved dashboards. As the industry moves towards more connected and automated vehicles, the demand for sophisticated in-car displays and lightweight components is likely to contribute to the market’s growth.
Renewable Energy Sector Growth: Governments across Asia Pacific are heavily investing in renewable energy sources such as solar power. Flexible glass is increasingly being utilized in solar panels due to its lightweight and bendable properties, which make it easier to install on non-flat surfaces. The region’s focus on sustainability and energy efficiency is further promoting the use of flexible glass in these applications.
Technological Advancements and Innovation: Continued innovation in material science and manufacturing processes is reducing the cost of production and improving the overall performance of flexible glass. With advancements in display technology and the increased adoption of flexible OLED displays, manufacturers are seeking flexible glass as a key material to enhance product performance and durability.

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Challenges Faced by the Asia Pacific Flexible Glass Market

Despite its rapid growth, the Asia Pacific flexible glass market is not without challenges:

High Production Costs: One of the main barriers to widespread adoption of flexible glass is the high cost of production, which remains significantly higher compared to traditional glass or plastics. As the market matures, manufacturers are expected to face increased pressure to reduce production costs while maintaining quality standards.
Limited Manufacturing Capacity: While there is significant demand for flexible glass, the production capacity in the Asia Pacific region is still in the developmental stage. Manufacturers need to invest heavily in scaling up production capabilities to meet the growing demand from various industries.
Technical Challenges in Integration: Despite its advantages, integrating flexible glass into existing manufacturing processes can present technical challenges. Some industries, particularly in consumer electronics, may encounter issues related to the durability and performance of flexible glass when used in extreme conditions.
Competition from Alternative Materials: The flexible glass market faces stiff competition from alternative flexible materials, such as plastic polymers, which offer similar flexibility at a lower cost. These alternatives could potentially slow down the adoption of flexible glass in certain sectors.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Surging Demand for Lithium-Ion Batteries Fuels Ethylene Carbonate Market Growth, Expected to Hit USD 559.6 million by 2034

The global ethylene carbonate industry value reached USD 323.3 million in 2023. Over the forecast period, the value is anticipated to rise at a CAGR of 5%. The sector is predicted to increase from USD 342 million in 2024 to USD 559.6 million in 2034.

Demand for ethylene carbonate is increasing due to the rising demand for electric vehicles and energy storage systems worldwide. Carbonate is gaining popularity in lithium-ion battery formulations and has applications in plastics, coatings, adhesives, and pharmaceuticals sectors.

Growing usage of lithium-ion batteries in electric vehicles will augment the growth in the market. Ethylene carbonate is one of the most reactive solvents relevant to lithium-ion batteries (EC). Increasing sales of electric vehicles are bolstering the demand for Li-ion batteries, thereby favoring the growth in the ethylene carbonate market.

Ethylene carbonate is an important reactive intermediate in the production of lubricants and greases. Lubricants are widely used in the manufacturing and transportation industries to ensure the smooth operation of the object. Consumption of ethylene carbonate is expected to grow across the industrial, automotive, and oil and gas sectors, where lubricants are widely used.

“Over the assessment period, sales of ethylene carbonate are expected to be driven by its consumption in lithium battery electrolytes & lubricants across the globe, followed by plasticizers and surface coatings.”says an FMI analyst.

Opportunities: Emergence of lithium-sulfur batteries

The energy-storing capacity of lithium-sulfur batteries is leading to their growing demand. These batteries can store ten times more energy than lithium-ion batteries. Ethylene carbonate is used as an electrolyte in lithium-sulfur batteries. Lithium-sulfur batteries are considered promising next-generation batteries for electric vehicles. This is because they have a sulfur cathode that is cheap and easily available and has a low toxic impact on the environment compared to lithium-ion batteries. This is expected to increase the demand for ethylene carbonate in lithium-sulfur batteries.

Challenges: Fluctuating oil & gas prices

The increasing global demand for crude oil and the unrest in the Middle East are major factors responsible for the fluctuating prices of ethylene carbonate. The ethylene carbonate market is also affected by high transport costs, driven by rising fuel prices and high manufacturing costs, resulting from increased energy costs. Manufacturers of ethylene carbonate have responded to the increase in manufacturing cost by ensuring that the rise in prices is asymmetrically shared, with end-users paying the majority share. Hence, the fluctuating oil & gas prices act as a challenge for the ethylene carbonate market.

Key Takeaways:

Based on application, the lubricants segment is projected to hold approximately 32% of the total market share in 2022.
Sales in the lithium battery electrolyte segment will grow at 6.4% CAGR through 2032.
In terms of end use, demand in the automotive segment will reach a valuation of USD 204.1 Million by 2032.
The India ethylene carbonate market is forecast to expand at a 6.8% CAGR over the assessment period.
The China ethylene carbonate market will reach a valuation of US$ 127.3 Million by 2032.
East Asia will emerge as an attractive ethylene carbonate market, creating an incremental dollar opportunity of USD 83.5 Million over the forecast period.

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Competitive Landscape

Key Companies Profiled

Oriental Union Chemical Corporation
Huntsman Corporation
BASF SE
Mitsubishi Chemical Corporation
Toagosei Co., Ltd.
Asahi Kasei
Prasol Chemicals Ltd
Shandong Shida Shenghua Chemical Group
Shandong Senjie Chemical
Dubi Chem
Alfa Aesar

Key players are investing in mergers, acquisitions, and collaborations to improve their product portfolios. They are also investing in production facility expansions to cater to the growing demand from various end-use sectors. For instance:

In June 2021, Huntsman Corporation’s Performance Products division announced plans to significantly increase its existing capacity for ULTRAPURETM Ethylene Carbonate at its Conroe, Texas facility by mid-2023. ULTRAPURETM Ethylene Carbonate is essential for the safe operation and long life of lithium-ion batteries used in electric vehicles (EVs) and electronics.

Ethylene Carbonate Market by Category

By Product Form:

Solid
Liquid

By Application:

Lithium Battery Electrolyte
Plasticizers
Lubricants
Surface Coatings
Others

By End-Use Industry:

Oil & Gas
Automotive
Pharmaceuticals
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Wrap-Around Cartoners Market Expected to Reach USD 2,017.9 Million by 2034, Growing at a CAGR of 2.6%

The global wrap-around cartoners market is projected to expand significantly, with an estimated market size of USD 1,561.1 million in 2024 and anticipated growth to USD 2,017.9 million by 2034. This growth translates to a compound annual growth rate (CAGR) of 2.6% over the forecast period from 2024 to 2034. In 2023, the revenue generated by wrap-around cartoners reached USD 1,515.6 million.

Wrap around cartoners play a vital role in the packaging industry, offering efficient solutions for cartoning various products, including bottles, cans, pouches, and more. These machines are designed to fold and seal cartons around products, providing secure and aesthetically pleasing packaging for retail display and distribution.

Key factors driving the growth of the wrap around cartoners market include:

1. Design Improvements and Capacity Expansion: Manufacturers are focusing on enhancing the design and capabilities of wrap around cartoners to improve performance and productivity. These advancements include innovations in carton forming, product feeding, sealing mechanisms, and control systems, enabling higher throughput and efficiency.

2. Quick Changeover and Flexibility: With the rise of customization and shorter product life cycles, manufacturers require packaging machinery that can quickly adapt to changing production requirements. Wrap around cartoners with modular designs and tool-less changeover features offer greater flexibility and agility in responding to market demands.

3. Automation and Industry 4.0 Integration: The integration of automation technologies and Industry 4.0 principles into wrap around cartoners is driving efficiency gains and cost savings for manufacturers. Automated carton loading, precision control systems, and remote monitoring capabilities enable smoother operation, reduced downtime, and improved overall equipment effectiveness (OEE).

Key Wrap Around Cartoners Market Takeaways and Projections

The U.S. is expected to lead the North America Wrap Around Cartoners market, projecting the fastest growth in the region between 2021 and 2031
Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.

Report Benefits & Key Questions Answered

Historical Market Analysis: The detailed survey by FMI, examines key factors in the Wrap Around Cartoners market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Wrap Around Cartoners market for the forecast period 2021-2031.
Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Wrap Around Cartoners for the assessment period. As per the study, the demand for Wrap Around Cartoners will grow at a robust CAGR between 2021 and 2031.
Market Trend Analysis: The latest study by FMI on the Wrap Around Cartoners market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.

Competitive Landscape Analysis

The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Wrap Around Cartoners market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

Access Full Report: https://www.futuremarketinsights.com/reports/wrap-around-cartoning-machines-market

Key Segments:

By Capacity:

Upto 70 CPM
70 to 150 CPM
150 to 400 CPM
Above 400 CPM

By Orientation:

Horizontal
Vertical

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Self-Laminating Tags Market Expected to Reach USD 145.35 Billion by 2032, Registering a CAGR of 4.8%

The global self-laminating tags market is projected to witness robust growth, with an estimated compound annual growth rate (CAGR) of 4.8% from 2022 to 2032. The market, valued at approximately USD 90.95 billion in 2022, is anticipated to reach USD 145.35 billion by 2032. This growth is driven by the increasing application of self-laminating tags across various industries, ease of use, and enhanced durability.

Growth Opportunities in the Self-Laminating Tags Industry:

Increased Industrial Adoption: Growing awareness of the importance of asset identification and tracking in various industries, such as manufacturing and logistics, presents a significant growth opportunity for self-laminating tags.

Advancements in Material Technology: Ongoing developments in materials used for self-laminating tags, including improved durability, weather resistance, and tamper-proof features, can drive market growth by addressing evolving customer needs.

Rising Compliance Requirements: Increasing regulatory requirements related to product labeling, safety, and traceability create a demand for robust tagging solutions, boosting opportunities for self-laminating tag manufacturers.

E-commerce and Retail Expansion: The expansion of e-commerce and retail sectors, coupled with the need for efficient inventory management, is likely to fuel the demand for self-laminating tags for product identification and tracking.
Global Supply Chain Complexity: As supply chains become more complex and interconnected globally, the need for effective labeling and tracking solutions, such as self-laminating tags, becomes crucial, presenting growth opportunities for market players.
Industry Trends:

Integration of RFID Technology: The incorporation of Radio-Frequency Identification (RFID) technology into self-laminating tags is a prominent trend, enabling real-time tracking, improved security, and enhanced data management capabilities.

Sustainability Focus: Increasing emphasis on sustainability in packaging and labeling materials is influencing the self-laminating tags market, with a growing demand for eco-friendly and recyclable materials.

Customization and Personalization: A trend towards customizable and personalized self-laminating tags to meet specific industry requirements, including branding, compliance, and aesthetic preferences, is gaining traction.

Digitalization and Smart Labeling: The adoption of digital technologies, such as QR codes and NFC (Near Field Communication), in self-laminating tags for enhanced connectivity, product information, and consumer engagement is on the rise.

Evolving E-labeling Solutions: The industry is witnessing a shift towards electronic labeling solutions, where digital displays and electronic ink technologies are integrated into self-laminating tags, allowing for dynamic information updates and reducing the need for physical label replacements.

Access Full Report: https://www.futuremarketinsights.com/reports/self-laminating-tags-market

Key companies profiled

Avery Dennison
Brady
LEM Products, Inc.
Seton Universal Tag, Inc.
Badger Tag & Label Corporation
Stranco

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Absorbent Booms & Socks Market to Grow at a CAGR of 10.6%, Reaching USD 4.7 Billion by 2032

The global absorbent booms & socks market is poised for impressive growth, with an expected compound annual growth rate (CAGR) of 10.6% over the forecast period. The market, currently valued at USD 1.7 billion, is anticipated to reach USD 4.7 billion by 2032, driven by the increasing demand for effective spill containment solutions and the growing emphasis on hygiene and cleanliness across industries.

A detailed study on absorbent booms & socks market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.

Key Absorbent Booms & Socks Market Takeaways and Projections:

The U.S. is expected to lead the North america absorbent booms & socks market, projecting the fastest growth in the region between 2022 and 2032
Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.

Industry Trends:

Advancements in Material Technology: Ongoing research and development efforts are leading to the introduction of advanced materials with enhanced absorbent capabilities and durability. Innovations in material science are influencing the design and performance of absorbent booms and socks in spill response applications.
Customization and Tailored Solutions: The market is witnessing a trend towards customized absorbent solutions that cater to specific industry requirements. Manufacturers are offering tailored products, considering factors such as the type of liquids encountered, environmental conditions, and application-specific needs.
Sustainable and Eco-Friendly Products: With a growing focus on sustainability, there is a trend towards the development and adoption of eco-friendly absorbent materials. Companies are exploring biodegradable options and products with minimal environmental impact to align with corporate sustainability goals.
Integration of IoT and Smart Technologies: The integration of Internet of Things (IoT) and smart technologies is transforming the absorbent booms and socks market. Smart sensors and monitoring devices are being incorporated into these products to provide real-time data on spill incidents, enabling quicker and more efficient responses.
Global Supply Chain Challenges: The industry is experiencing trends related to global supply chain challenges, affecting the availability and pricing of raw materials. Fluctuations in raw material costs and disruptions in the supply chain can impact the overall dynamics of the absorbent booms and socks market. Companies are strategizing to address these challenges and ensure a stable supply chain.

Access Full Report: https://www.futuremarketinsights.com/reports/absorbent-booms-socks-market

Competitive Landscape Analysis

The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of absorbent booms & socks market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

It also provides a list of leading players and recent development in the global absorbent booms & socks market. Some of the prominent market players are 3M Company, Oil_Dri Corporation of America, Wipeco Industries, Fentex ltd, ESP US, The Cary Company, Meltblown Technologies Inc, PolySafe Products, PSI Parker System Inc and IQ Safety.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us: