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The global 3D printing materials market is anticipated expand at an impressive 14.0% CAGR over the forecast period. Rapid adoption of technologically advanced manufacturing equipment across various sectors is driving sales of 3D printers worldwide, which is expected to boost the market in the forthcoming years.

Raw materials such as plastics, ABS, PLA, metals & powders, carbon fibers, resins are some commonly used 3D printing materials. Growing trend of utilizing 3D printers to manufacture various kinds of small and large products are boosting the market.

In addition to this, increasing adoption of 3D printing in the building and construction sector is expected to augment the growth of the market. Furthermore, the expansion of automotive, aerospace, electronics and medical is anticipated to remain key growth driver of the global market of 3D printing materials.

As per FMI, North America is expected to remain a lucrative pocket in the global 3D printing materials market. Growth is attributable to the swift commercialization of novel technologies like 3D printing in various industries across the region.

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Key Takeaways:

• By material type, sales in the metal segment are forecast to grow at a 14.9% CAGR over the assessment period.
• Based on form, demand for powder 3D printing materials is projected to increase at a 13.5% CAGR through 2031.
• In terms of applications, sales in the automotive sector are forecast to gain traction at a 13.6% CAGR over the forecast period.
• The U.S. will emerge as a lucrative pocket in the North America 3D printing materials market.
• Sales in the China 3D printing materials market are projected to increase at a 15.2% CAGR through 2031.

“Increasing adoption of 3D printing in the healthcare sector and the growing demand for 3D printed plastics for vehicle interiors are expected to drive sales in the market over the assessment period,” says an FMI analyst.

Competition Landscape

Key market participants in the global 3D printing materials market elaborated in the report includes Covestro AG, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc.

Key market participants are focusing on development of innovative 3D printing products to improve their product portfolios. Besides this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.

For instance:

• In April 2021, Sandvik and its subsidiary BEAMIT Group announced a new capacity for additively manufacturing components in super-duplex stainless steel, an alloy that combines mechanical strength with extremely high corrosion resistance.

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3D printing materials Market By Category

By Material Type:

• Plastics
• Metals
• Ceramics
• Others

By Form:

• Filament
• Powder
• Liquid

By Application:

• Electronics & Consumers
• Automotive
• Medical
• Industrial
• Education
• Aerospace
• Others

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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As per a recent analysis by Future Market Insights (FMI), the global lithium mining market is projected to top US$ 3.3 Bn by 2031. Growing demand for lithium ion batteries from end-use industries including automotive, packaging and consumer electronics is expected to propel sales of lithium over the forecast period 2021-2031.

Lithium is widely being adopted in the manufacturing batteries for electric vehicles, owing to advantages such as longer lifespan, improved fuel efficiency and low discharge rates. Increasing sales of electric vehicles are anticipated to spur demand for lithium in the forthcoming years, which in turn will augment growth of the global lithium mining market.

Moreover, growing demand for glass and ceramics from the packaging industry is likely to create new opportunities for key players operating in the lithium mining market. Glass and ceramics are mostly used in packaging of pharmaceuticals, food and beverages, and other items.

Increasing applications of lithium in the glass and ceramics industry will continue boosting growth prospects of the lithium mining market. In 2020, the global lithium mining market was heavily impacted by the novel coronavirus pandemic.

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Nationwide lockdowns, travel restrictions, and halted on mining operations hampered the production and consumption of lithium. However, sales are expected to recover in 2021 as demand for lithium from the automotive sector continues to grow.

“Growing focus on fuel efficiency in automotive vehicles is expected to propel consumption of lithium for batteries in the forthcoming years. Besides this, increasing sales of wearables and portable consumer electronics will continue augmenting growth of the lithium mining market through 2031,” says an FMI analyst.

Key Takeaways:

• Lithium production through brine solutions is expected to capture 65% of the total lithium mining market share.
• The lithium hydroxide segment is projected to account for a dominant share over the forecast period.
• Applications of lithium in the battery segment are projected to grow at 8.5% year-over-year in 2021.
• Sales of lithium in the U.S. are projected to grow by 3.2% year-over year in 2021.
• Australia will emerge as an attractive market owing to the presence of high-capacity lithium reserves in the country.
• China will continue experiencing high demand for lithium due to increasing production and sales of consumer electronics.

 Competitive Landscape

Albemarle, Ganfeng Lithium, Livent, Nemaska Lithium, Orocobre limited, Sichuan Tianqi Lithium Industries, SQM and Lithium Americas Corp. are among the key market players identified by FMI. These players are projected to command 60-70% of the total lithium mining market share.

Leading players operating in the global lithium mining market are focusing on production facility expansion through mergers and acquisitions to gain a competitive edge in the market.

For instance:

• In October 2021, Belgian material technologies group Umicore UMI.BR signed a long-term lithium supply deal with Gangfen Lithium Co. Ltd. to expand its production capacity in response to rising electric vehicles demand.

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Lithium Mining market by Category

By Source:

• Brine
• Hard Rock
• Others

By Type:

• Lithium Carbonate
• Lithium Hydroxide

By Application:

• Battery
• Ceramics and Glass
• Lubricants & Grease
• Polymer
• Flux Powder
• Refrigeration
• Others

More Insights into the lithium Mining Market Report

In its latest report, FMI offers an unbiased analysis of the global lithium mining market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of source (brine and hard rock), type (lithium carbonate and lithium hydroxide) and applications (battery, ceramics and glass, lubricants and grease, polymer, flux powders, and refrigeration) and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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What Is the Impact of the COVID-19 Crisis on the Lithium Mining Market?

The ongoing COVID-19 crisis is anticipated to have a significant impact on the global economic growth for the period of 2020-2021. The global economic growth curve witnessed a downfall up to -5% owing to the pandemic. Factors such as nationwide lockdowns, travel restrictions, and halted manufacturing and production across various sectors has resulted in stunted consumption of lithium.

Mining operations were also shut down in 2020 in globally. This has resulted in dampened growth prospects in the global lithium mining market. However, with resumptions in production and sales in the automotive and consumer electronics industry, the lithium mining market is expected to recover at a steady pace over the forecast period.

About FMI

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A crude heater is considered to be a key element of the refinery industry. In order to ensure well maintained and efficient operations in an oil and gas industry, plant managers equip their facilities with advanced, reliable, and durable industrial heating equipment. Crude heaters are required to heat crude oil prior to the first stage of compression. Crude heaters are used to ensure better separation properties as well as improve the fluidity of the crude oil.

The viscosity of some types of crude oils can be reduced with the aid of crude heaters, which pre-heat the material to create easy flow. The demand for effective crude heaters is expected to increase significantly in the near future due to their numerous significant features and advantages. This rising demand for crude heaters is expected to significantly contribute in the growth of the global crude heater market over the forecast period.

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Crude Heater Market: Dynamics

The growing demand for efficient and durable crude heaters in the oil and gas industry is considered to be the primary growth driver for the global crude heater market. Owing to the increasing demand for gasoline and fuel, the oil industry is anticipated to witness steady growth in the near future. The continuously increasing demand for refinery products across numerous end-use sectors is a sign for the future demand for high quality crude oil. In order to fulfill the demand for crude oil products, vendors have increased their refinery capacities. For example, in recent years, PDVSA and PETROBRAS have increased their refining capacities. This, in turn, is estimated to propel the demand for crude heaters over the period of forecast.

Manufacturers in the crude heater market have to face some challenges regarding the stringent regulations laid down by governments. In order to reduce VOC (Volatile Organic Carbon) emissions from industries, regulatory legislations laid out by the EU government – REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) – address the production and use of chemical substances such as process oil, and its potential impacts on humans and the environment. The parliaments of other regions such as European nations have banned oil with high content of hydrocarbons, which affects the production of oil in terms of volume, subsequently hindering the growth of the crude heater market.

The ongoing trend gaining momentum in the oil and gas industry is the introduction of the flameless combustion technique by Great Southern Flameless (GSF). This technology was introduced in the glass and steel industry many years before, as both these industries operate at very high temperatures and run at constant steady state conditions, which is considered to be an ideal condition for flameless combustion. The commercialization of flameless fired crude heaters demanded several design features to have a flameless heater operating in the refining environment.

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Crude Heater Market: Regional Outlook

Globalization, population growth, and economic changes have not only contributed to the crude oil industry, but have also led to a rise in the standards of oil and gas services. The increasing number of refinery projects in Europe and the Middle East, particularly Russia, Kazakhstan, Saudi Arabia, and many others, is estimated to propel the demand for crude heaters. These nations have huge oil reserves, which, in turn, surges the demand for crude heaters. Further, Asia Pacific is estimated to be a key opportunistic market, due to the setting up of new refineries to meet the growing demand for new units in developing countries. This may positively impact the global crude heater market during the forecast period.

Crude Heater Market: Key Participants

Examples of some of the market participants identified across the value chain of the global crude heater market are:

• Amec Foster Wheeler
• Exotherm Corporation\
• American Heating Company
• C. Broach Company
• Thermotech Systems Ltd.
• Chromalox, Inc.
• Garcem Engineers

The research report presents a comprehensive assessment of the crude heater market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to the crude heater market segments such as geography, capacity, and type of combustion.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Crude Heater Technology
• Crude Heater Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The global crude heater market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The global crude heater market report also maps the qualitative impact of various market factors on market segments and geographies.

Crude Heater Market: Segmentation

The global crude heater market has been segmented by capacity and type of combustion.

By capacity, the global crude heater market is segmented as:

• Less than 50,000 barrels per day
• 50,001 to 1,00,000 barrels per day
• 1,00,001 to 250,000 barrels per day
• Above 250,000 barrels per day

By type of combustion, the global crude heater market is segmented as:

• Flame Combustion Crude Heaters
• Flameless Combustion Crude Heaters

Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current, and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

Ammonium thiosulfate has witnessed a considerable increase in demand from diverse end use industries such as agrochemicals, pharmaceuticals, water treatment, agriculture and mining sector among others.

Owing to the growing demand for crop production across the globe, demand for nitrogen & phosphate based fertilizers is anticipated to increase in the coming years. Rising need for more nutrients in the soil, adoption of ammonium thiosulfate will increase.

As ammonium thiosulfate fertilizers provides certain vital elements for the plant and crops growth, adoption within agriculture sector will increase, spurring sales. Moreover, decreasing land area worldwide due to growing urbanization and industrialization will also fuel demand for ammonium thiosulfate.

The market for ammonium thiosulfate witnessed moderate growth during FQ-20, due to the sudden outbreak of Covid-19. Decrease in demand within the industrial sector resulted in slight decline of sales.

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However, the market is expected to witness positive growth outlook backed by the increasing demand for ammonium thiosulfate from the agriculture sector. According to Future Market Insights, the global ammonium thiosulfate market is anticipated to grow at a healthy CAGR of 6.6% during the forecast period of 2021 and 2031.

Key Takeaways from Ammonium Thiosulfate Market Study 

• In terms of end use, photochemical and water treatment are expected to witness high growth during the forecast period.
• The global ammonium thiosulfate market is anticipated to reach a value of US$ 367.5 million by the end of the forecast period.
• Industrial grade will be the preferred grade type among end-users, accounting for lion’s share in the global market
• Powder form is expected to remain the key form type of owing to substantial demand of the inorganic compound for various other industries including mining and treatment of industrial wastewater.
• The U.S. is projected to remain the lucrative market owing to the presence of key producers and steady expansion of agriculture industry in the region.

“Prominent manufacturers of ammonium thiosulfate are specifically emphasizing on capacity expansions and agreements with the sole purpose to cater demand and gain more regional presence, especially in India and the U.S.,” said a lead analyst at FMI.

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Ammonium Thiosulfate Market by Category

By Form Type:

• Powder
• Liquid

By Grade:

• Industrial Grade
• Photo Grade

By End Use:

• Fertilizer
• Photochemical
• Mining
• Others

Ammonium Thiosulfate Market: Participant Insights                                        

Key market participants in the global ammonium thiosulfate market are Tessenderlo Kerley, Inc., Koch Nitrogen International Sarl, Kugler Co., Martin Midstream Partners, TIB Chemicals AG, Esseco Srl, PCI Nitrogen, Shakti Chemicals.

Key players are focusing on strategic expansions by expanding production capacity, in emerging economies by setting up of new production units, collaborations and mergers and acquisitions of other market participants to provide to increase their market presence.

What Is the Impact of COVID-19 on Ammonium Thiosulfate Market?

The global economy witnessed a significant downfall due to the sudden outbreak of COVID-19. Global shutdown halted trade activities, resulting in disruption of supply-chain network. Industrial sector, mining sector and construction sector suffered the most.

However, agricultural sector showed a stable trajectory during the pandemic, as it falls under essential services category and agricultural produce being categorized as critical commodities, thus exempting them from restrictions.

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Moreover, demand and supply of certain fertilizers decreased due to the pandemic. Ammonium thiosulfate is produced from sulphur and is extracted from oil & gas refineries.  Due to pandemic, production of ammonium thiosulfate decreased due to supply chain disruption and reduction in the oil & gas demand.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Sodium lactate find extensive applications in the food & beverage industry, pharmaceutical and cosmetic and personal care products owing to its superior properties and cost-effective nature. As per a new study by Future Market Insights (FMI), the demand for sodium lactate will increase by 8.8% between 2021 and 2031.

Focus on reducing the cost of production to offset the high feedstock cost and gain competitive edge among leading players will bode well for the market. Moreover, manufacturers are expanding their manufacturing capabilities and increasing their exports to make deeper inroads in markets with unmet needs.

Increasing safety concerns have encouraged governments around the world to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have been created with the intent to keep an eye on chemical additives and contaminants in food supplies.

This is expected to create attractive opportunities for growth. The global sodium lactate market is estimated to be US$ 158.7 Mn in 2021, registering high growth through the forecast period (2021-2031)

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Key Takeaways from Sodium lactate Marker Study

• Liquid form by form type is expected to contribute more than 54% of revenue share to the market.
• By application, food & nutritional supplements held the highest market share in 2021 due to diversifying the application of sodium lactate in the food industry.
• North America holds a t share of over 38% in the global sodium lactate market.
• Germany is expected to remain the dominant market for sodium lactate in Europe, accounting for over one-fourth of sales through 2031.

• China will continue leading the East Asia market, exhibiting double-digit growth through the forecast period.

“Diverse applications of sodium lactate across diverse industries, from pharmaceutical to the food sector will drive the sodium lactate market,” says a FMI analyst. 

Fast Expanding End-User Industries and Product Compliance

Food & beverage, cosmetic industry, pharmaceuticals manufacturers are prominent end-user industries gaining momentum. With the prompt expansion of the food & beverage and agricultural industry across the globe, it will fuel the demand for sodium lactate-based products. Manufacturers may want to steadily exit or avoid entering the vulnerable solvents marketplace as the usage of VOC-based products is banned and prohibited in developed countries.

Increasing safety concerns have encouraged several governments to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have created use of chemical additives and contaminants in food supplies on check.

Also, within the pharmaceutical industry, regulations and quality assurance play an important role. These factors will continue creating scope for sodium lactate applications.

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Competitive Landscape

Manufacturers are focusing on the development of intermediates. Moreover, they are focusing on expanding their regional presence through acquisition and expansion.

Some of the leading companies of this market include:

• Jungbunzlauer Suisse AG
• Biosynth Carbosynth
• Corbion N.V.
• Prathista Industries Limited
• Dr. Paul Lohmann GmbH KG
• Merck KGaA
• Advance Inorganics
• Hexon Laboratories Private Limited
• Galactic S.A.
• abcr GmbH

Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global sodium lactate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The study provides compelling insights on the sodium lactate market on basis of Product Form in detail cover every aspect of the market such as (Powder, Liquid), Application (Beverages, Food & Nutritional Supplements, Clinical Nutrition, Dialyses Solutions, Personal Care & Cosmetics, Cleaners & Detergents), End User (Food & Beverages Industry, Cosmetic Industry, Pharmaceuticals Manufacturers, Medical Devices Manufacturers, Others) across seven major regions.

Sodium lactate Market by Category

Product Form:

• Powder
• Liquid

Application:

• Beverages
• Food & Nutritional Supplements
• Clinical Nutrition
• Dialyses Solutions
• Personal Care & Cosmetics
• Cleaners & Detergents

End-User:

• Food & Beverages Industry
• Cosmetic Industry
• Pharmaceuticals Manufacturers
• Medical Devices Manufacturers

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What Are Key Opportunities For The Market To Growth In Future?

In developed economies, customers are progressively transitioning to products that confirm to stricter requirements for safety. This will create opportunities for research and development activities and product innovation to launch lactates-based products.

Development of custom formulation and products as per end-user requirements is expected to gain impetus across the world. Some of the leading companies are therefore focusing on produyct launches.

A majority of manufacturers in the MEA region are based out of South Africa, Turkey and GCC. They are primarily focusing on manufacturing international quality products to garner significant attention from end-users in the region. Sodium lactate also is used in food products that need to be Kosher & Halal certified.

Expansion in APAC and ban on VOC-based solvent in Europe and North America will create growth opportunities for sodium lactates manufacturers.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Increasing research and development (R&D) activities aimed at the development of new production technologies are expected to create growth opportunities for sodium hydroxide market, finds by Future Market Insights (FMI) in a recent research study.

According to the report, the sodium hydroxide sales are anticipated to surge at a CAGR of 4.3%, reaching US$ 43.7 Bn by the end of the assessment period in 2031. The growing demand for sodium hydroxide from various end-use sectors is encouraging market players to invest heavily in expanding their production capacities.

East Asia is estimated to remain a key regional market owing to increasing applications, particularly driven by the demand for textile chemicals in textile industry. Furthermore, the outbreak of the COVID-19 virus has resulted in reduced growth of many end-use industries including automotive and construction.

This outbreak also has impacted the chemical industry. The losses arising during the pandemic have resulted in subduing growth for the sodium hydroxide market. However, the increasing demand in the pulp and paper industry is expected to support recovery of the sodium hydroxide market.

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Key Takeaways from Sodium Hydroxide Market Study

• Caustic lye holds over 63% of the global value share in 2021 owing easier applications particularly in the chemical industry.
• Textile applications will account for over 19% of the market through the end of 2031, driven by inking and dyeing applications.
• China is dominant in East Asia with a share of over 63% through the assessment period, supported by the presence of prominent end-use industries in the country.
• The U.S. is a lucrative market accounting for over 89% of North America, propelled by demand in the automotive and construction sectors.
• India followed by ASEAN countries account for a cumulative share of over 72% of the South Asia and Pacific market, albeit driven by a fragmented end-use sector.

“Global trade tensions and COVID-19 outbreak have had a considerable negative impact on buyer confidence. This in turn has affected short term sales figures in the sodium hydroxide market. However, demand has been gradually recovering since last quarter of 2020 and is expected to reach pre-pandemic level in the coming years,” said a lead analyst at FMI.

Who is Winning?

Leading players in the sodium hydroxide market are focusing on strategic expansions of production capacity, in addition to collaborations, partnerships, and acquisitions to produce high-quality products. They are also focusing on bolstering their product portfolio and developing stronger distribution partnerships.

Key manufacturers in the sodium hydroxide market, include but are not limited to Olin Corporation, Tosoh Corporation, BASF SE, Formosa Plastics Corporation, Dow Chemical Company, Shin-Etsu Chemical Co Ltd, Westlake Chemical Corporation, Covestro AG, Solvay S.A., Gujarat Alkalies and Chemicals Limited, Occidental Petrochemical Corporation, Tata Chemicals Ltd., Xinjiang Zhongtai Chemical Co. Ltd, Vynova Group, CJ Chemicals, ProChem, Inc., Chemical Store Inc, GFS Chemicals, Inc.

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Valuable Insights into Sodium Hydroxide Market

Future Market Insights has published a market research report on the sodium hydroxide market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Sodium Hydroxide market through two different segments- Product Type, application and Region.

Sodium Hydroxide Market by Category

By Product Type:

• Flakes
• Caustic Lye

By Application:

• Alumina
• Textile
• Pulp & Paper
• Soaps & Detergent
• Dyes & Inks
• Pesticides
• Pharmaceuticals
• Water Treatment
• Petrochemicals
• Power & Steel
• Food Processing
• Organics
• Inorganics
• Others

How will COVID-19 Crisis Effect Sodium Hydroxide Market?

The COVID-19 outbreak has impacted various industries. In the short term, the world has seen a rise in demand for sodium hydroxide for water treatment applications. The sodium hydroxide market has been moderately impacted by the crisis.

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However, for the long-term growth outlook, the market has displayed gradual recovery in the past few months and is expected to reach its pre-pandemic levels by the end of 2021, supported by the resurgence of the end users.

Sodium hydroxide is used in the chemical industry as a catalyst, reactant, and more. The use of sodium hydroxide has been increased significantly in the last few years and is expected to continue its growth soon. Strong economic activity is supporting sodium hydroxide demand in all segments.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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As per the report published by FMI, the global stainless steel market is projected to have a moderate-paced CAGR of 5.5% during the forecast period. The current valuation of the market is US$ 119.80 billion in 2022. The market value of stainless steel is anticipated to reach a high of US$ 183.86 billion by the year 2032.

The stainless steel market is gaining rapid traction due to the flourishing demand for stainless steel in the manufacturing of kitchen products such as showpieces, cookware, and stoves owing to its benefits that include high ductility & toughness, resistance to corrosion, and low maintenance required that in turn fuel the market growth in the different industries.

According to the findings of Future Market Insights stainless steel seeks significant demand from the automotive industry again influences the market growth positively. Increasing automobile production in the regions such as the Middle East, the Asia Pacific, and Latin America has prominently escalated the demand for stainless steel in these regions.

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FMI has analyzed that the main factors contributing to the increased automobile production are the rise in easy access to credit facilities, disposable income, and the increasing necessity of people for personal transportation. The aforementioned factors are likely to boost the demand for stainless steel across the globe.

Key Takeaways from the Stainless Steel Market

• The automotive and transportation segment accounts for 12% market share of the global steel consumption.
• On the basis of the product type, the flat product segment is going to dominate at a significant CAGR during the period 2022-2032. This segment accounted for 73% of revenue share in 2021.
• Europe is projected to advance at a CAGR of 5.6% during the estimated period.
• Asia Pacific is projected to dominate the stainless steel market with a market share of 74% during the forecast period.

“Socio-economic factors and drastic development of the construction & building and automotive industry is likely to curate lucrative growth opportunities for the stainless steel manufacturers and leverage the market growth during the forecast period”– Says an FMI Analyst

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Competition Landscape in the Stainless Steel Market 

The market players in the stainless steel industry focus primarily on their capacity expansion across various regions. the manufacturer has helped in the development of advanced techniques to enhance the properties of stainless steel which further extends profitable opportunities to the market players in the forecast period of 2022 to 2032.

The global stainless steel market can be considered oligopolistic due to the presence of a considerable number of players across the globe. The intensity of participation in the market is high owing to the excellent scope of demand. Tier-I companies are planning to venture into collaboration and acquisitions of accompanying businesses to further increase their market presence.

Acerinox S.A., Aperam Stainless, ArcelorMittal, Baosteel Group, Jindal Stainless, Nippon Steel Corporation, and Outokumpu are some key players in the stainless steel market.

Key Segments In The Stainless Steel Market

By Type:

• Austenitic Stainless Steel
• Ferritic Stainless Steel
• Duplex Stainless Steel
• Martensitic Stainless Steel
• Precipitation Hardening Stainless Steel

By Form:

• Flat Products
• Long Products
• Tubular Products

By End-Use:

• Building & Construction
• Industrial Machinery & Components
• Automotive & Transportation
• Home Appliances
• Cookware & Cutlery
• Medical & Surgical Tools
• Others

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Recent Developments in the Stainless Steel Market:

• In November 2021, the U.S. government introduced USD 2 trillion plan for infrastructure. It includes heavy fund allocation for repair and renovation of bridges, highways, EV charging facilities, airports, water infrastructure, communication networks, high-speed Internet, clean energy & environment, and carbon reduction. This plan is likely to assist the SS demand for structural applications in infrastructure and construction.
• In February 2021, Jindal Stainless announced a CAPEX plan for its Odisha stainless steel plant worth Rs. 2000-3000 crore (USD 261.8-392.7 million) over the next few years

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As per the report published by FMI, the global expanded polypropylene (EPP) foam market is projected to have a moderate-paced CAGR of 11.40% during the forecast period. The current valuation of the market is US$ 1,685.97 million in 2022.

The market value of expanded polypropylene (EPP) foam is anticipated to reach a high of US$ 4,962.51 million by the year 2032. The expanded polypropylene (EPP) foam market largely penetrating a number of end-use industries and the market is expected to grow 1.7X in the estimated period of 2022-2032.

The eco-friendly and high-performance nature of expanded polypropylene (EPP) foam makes it an ideal material for a variety of applications such as elements of seats, bumpers, outdoor & indoor furniture, and FMCG products.

According to the findings of Future Market Insights, the demand for EPP foam is expected to gain additional traction, amidst increasing investments in manufacturing sectors across major economies. EPP foam plays a supplementary role in the manufacturing processes of many end-use industries.

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An increase in the manufacturing of these products will directly impact the need for the product on a global level. FMI has analyzed that the growing demand for chemical- and water-resistant materials in the packaging and consumer goods industries is slated to propel product demand over the forecast period.

Key Takeaways from the Expanded Polypropylene (EPP) Foam Market

• North America and Europe cumulatively account for a total of 35% market share in the Expanded Polypropylene (EPP) Foam Market.
• Asia Pacific (APAC) region is projected to dominate the global market with a revenue share of 52% in the Expanded Polypropylene (EPP) Foam Market.
• The automotive industry segment is projected to hold the highest revenue and constituted 40.0% of the total revenue share in the base year.
• The high-density product segment accounted for a market share of more than 53% during the base year and is likely to dominate during the forecast period.

“Green buildings are offering advantages including improved air quality, reduction in operating expenditure, reduction in overall load on metal frames, and efficient use of energy & water as compared to conventional buildings, therefore the use of EPP in the construction sector is likely to gain rapid traction in coming years.” – Says an FMI Analyst

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Competition Landscape in the Expanded Polypropylene (EPP) Foam Market 

The majority of the market players are engaged in the expansion of manufacturing facilities, mergers & acquisitions, and vertically integrating across the value chain. These initiatives enable companies to cater to increasing global demand, ensure competitive effectiveness, enhance sales & operations planning, develop innovative products & technologies, lower production costs, and expand customer base.

Paracoat Products Limited, ACH Foam Technologies, Eurofoam Group, Dongguan City Prosperous Mass Poly Foam Co.Ltd are some key players in the expanded polypropylene (EPP) foam market.

Key Segments in The Expanded Polypropylene (EPP) Foam Market

By Grade Type:

• Low Density
• High Density
• Porous PP

By Application:

• Automotive
• Industrial Packaging
• Consumer Products
• Building & construction
• Others

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Recent Developments in the Expanded Polypropylene (EPP) Foam Market:

• Kaneka Corporation stated in August 2017 that it would open a new enlarged polyolefin foam manufacturing plant in Rayong, Thailand. To meet the growing demand in Southeast Asia and India, an investment of USD 18 million was made to build a production capacity of 3,000 metric tonnes per year.
• JSP stated in August 2020 that its ARPRO extended polypropylene (EPP) brand would complete a full cycle. JSP has introduced ARPRO 5134 RE, a new product line with 25% recycled content derived from recycled EPP.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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As per FMI analysis, the global veneer sheets market is projected to reach a market value of US$ 41,163 Mn by 2031, growing at a CAGR of 2.3% during the forecast period of 2021-2031.

Steady growth registered by the veneer sheets market is attributable to consistently rising demand from commercial and residential construction. In a new study, FMI has forecast the market to reach US$ 33.37 Bn by 2021.

Growth forecasts continue to stay positive, albeit moderate because some of the established markets have been reaching maturity. For instance, despite recovery post COVID-19 in 2020, Europe will continue exhibiting moderate growth through the forecast period.

Veneer is a very thin coating used on the surface of the solid material. Veneer sheets are often glued to a solid material so that an otherwise dull piece of furniture can be made to appear elegant in a cost-effective manner. Moreover, applying a layer of veneer increases the durability of furniture, which makes veneer sheets highly sought-after in the construction sector.

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Although the market for veneer sheets is projected to rise consistently, the COVID-19 pandemic is expected to have a major impact on short-term demand pattern. COVID-19 pandemic also has compelled manufacturers to revisit strategies adopted for expansion to ensure steady growth in the near future.

Also, delays caused in building projects and manufacturing process have contributed to a decline in demand for sheets of veneer. Nonetheless, with economies returning to normalcy post extended lockdown period, sales of veneer sheets are expected to pick up, especially in the residential sector, which has also been identified as leading end-use in the report. FMI has predicted it to account for nearly 65.5% of the market in 2021.

Key Takeaways from Veneer Sheets Market Study

• Veneer sheet market will pick up pace post decline registered in 2020. FMI has projected the market to record 1.5% Y-o-Y growth in 2021
• The U.S. will continue leading the market in North America, accounting for 80.9% share in 2021
• The U.K. is projected to record growth at 1.0% in 2021
• Germany and France will remain key markets for veneer sheets in Europe
• Germany and France will continue exhibiting high demand, with Germany forecast to remain dominant in Europe through 2031
• Japan and South Korea to remain lucrative markets in East Asia. Among these countries, South Korea will exhibit high growth over the forecast period

“Product differentiation is one of the key strategies adopted by the market players. They are focusing on introducing a wide range of veneer sheets, designed keeping in mind specific applications as per consumer requirement,” said a lead FMI analyst.

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Veneer Sheets Market: Participant Insights                                                    

Some of the leading companies operating in veneer sheets market are GREENLAM INDUSTRIES LTD., Sauers & Company Veneers, Oakwood Veneer Company, Veneer Technologies, Inc, FormWood Industries, Inc., Turakhia Overseas Pvt. Ltd., CEDAN INDUSTRIES, CENTURYPLY, Ltd,   Herzog Veneers, Inc., Ltd, SR Wood, Ltd, Pearlman Veneers and Flexible Materials Incorporated. These companies are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.

Key Segments

Product Type

• Paper-Backed
• Wood-Backed
• Phenolic-Backed
• Laid-Up
• Others

End Use

• Commercial
• Residential

To Know More about Veneer Sheets Market

A new market research report published by Future Market Insights (FMI) on the global Veneer Sheets market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period.

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The report analyses the Veneer Sheets market through three different segments- product type, end-use, and region. The Veneer Sheets report also offers detailed analysis of pricing analysis by different product types demand across various end-use industries, and patent analysis in the market.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us

Unit No: 1602-006
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Plot No: JLT-PH2-X2A
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