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Mono Propylene Glycol Market | Global Industry Overview and Competitive Landscape till 2029

Mono propylene glycol (MPG) continues to find application across diverse industries, on the back of its low toxicity and hygroscopic properties. A recent Future Market Insights (FMI) study suggests that the global mono propylene market value will reach beyond US$ 5 Bn towards the end of 2029, witnessing a moderate CAGR during forecast period (2022 – 2029).

Environmental sustainability of bio-based mono propylene glycol will be significantly responsible in upholding its demand in the global market over the course of following years.

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Key Takeaways – Mono Propylene Glycol Market Study

Low toxicity of mono propylene glycol, as compared to ethylene glycol, is expected to drive its usage in cosmetics and personal care products on a large scale. As ethylene glycol is poisonous and must be handled with caution to restrict any human or animal exposure, MPG will witness higher demand in the forecast period.
Being the preferred glycol for manufacturing high performance, unsaturated polyester resins for several uses such as reinforced plastic laminates for marine construction, gel coats, sheet molding compounds (SMC), and synthetic marble casting, industrial grade mono propylene glycol is projected to witness significant demand. It is also a vital intermediate in the production of alkyd resins for paints and varnishes.
Substantial demand is anticipated for mono propylene glycol from the pharmaceutical industry as it is a well-known excipient. MPG is used for several purposes in a broad range of pharmaceutical dosage forms, for e.g. as a humectant in topical medication, as a preservative in solutions, or as a co-solvent in aerosols, parenteral, and oral solutions.

Manufacturers in the mono propylene glycol market can gain substantial profits by targeting long-term supply contracts from prominent end-use industries such as food & beverage, pharmaceutical, building construction, and others, across various developing countries such as India and China.

Manufacturers Moving towards Bio-based Mono Propylene Glycol

Bio-based mono propylene glycol is gaining popularity in the market, as a switch from petrochemical- to renewable-based MPG results in the reduction of climate change impact of 40-60% kg of CO2. Several countries are taking initiatives to increase the adoption of bio-based mono propylene glycol among various end-use industries owing to its significant environmental benefits.

Who Is Winning?

The global mono propylene glycol market is fairly consolidated due to the unavailability of raw materials required for the manufacturing of mono propylene glycol, especially at the regional level, and absence of local manufacturers. Key manufacturers such as Dow Chemical Company, Lyondell Basell, BASF SE, and Royal Dutch Shell PLC account for about 40% of the overall market share.

North America and Europe are anticipated to account for a significant share of the global mono propylene glycol market, owing to rapid infrastructural development and increasing preference for bio-based mono propylene glycol.

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Mono Propylene Glycol Market Market by Category

By Grade:

Technical
Food
Pharmaceutical

By Application:

Unsaturated Polyester Resin (UPR)
Polyester Fiber Production
Food Additive
Heat Transfer Fluid
Pharmaceutical Solvents
Liquid Detergents
Paints & Coatings
Other Industrial

By End Use:

Chemicals
Cosmetics & personal care
Pharmaceutical
Food & Beverage
Others

By Source:

Synthetic
Bio- based

Learn More About Report Inclusions

The research report analyzes total sales of mono propylene glycols on the basis of volume (KT) and value (US$ Mn). The report includes a competition analysis section that includes market structure analysis, tier structure analysis, competition development, and other crucial information about global and regional players in the market.

Opportunities in the market are projected on the basis of factors such as construction industry growth, food industry outlook, pharmaceutical industry overview, investments in upcoming infrastructure projects, and expansion in production capacity by worldwide manufacturers.

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The market is mailnly driven by the end use industry such as food & beverage, cosmetics & personal care industry market. Due to Covid-19 pandemic all the industries has suffered and witnessed downfall, but in the coming years market is anticipated to witness significant growth owing to the increase in consumption from end use industries.

Due to increased environmental concerns, manufacturers in the business are focused on bio-based chemicals for producing mono propylene glycol, which is acting as another growth-inducing element.

Furthermore, as the coronavirus disease (COVID-19) spreads, there is an increase in the need for propylene glycol in the production of hand sanitizers and surface disinfectants. Thus the end use segment of pharmaceuticals have witness a positive outlook 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.

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Acid Dyes Market Business Growth, Current Trends, Rules, Challenge, and Interaction Report to 2031

According to latest research, the demand of Acid Dyes is anticipated to grow with a healthy growth rate of about 4% to 6% by the end of 2031.

The sales of these dyes are estimated to boost up owing to the increasing demand from various textile sectors including the production of garments, apparels, and technical fabrics apart from others.

What is Driving Demand for Acid Dyes?

Acid dyes exhibit superior properties with respect to durability, reactivity, and strength. In addition, their cost-effectiveness makes them suitable for natural fibers including wool, silk, and jute.

The dyes also impart vibrant colors to natural fibers due to their superior bonding strength achieved from the strong bond between the negatively charged acid dyes and positively charged natural fibers. Therefore, the rising awareness of the superior properties of the particular dyes is expected to boost the growth of during the next few years.

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Textile Industries to Boost Acid Dyes Sales

The textile acid dyes are highly effective for silk, nylon, protein and modified acrylics. Acid dyes are structurally complex with large aromatic molecules and amino groups that makes them soluble in water. The parameters for dyes in textile industry include dyeing levelling agents, dyeing temperature, heating rates and washing off process. Therefore, dyes are highly effective in the textile industry.

Commercially, they serve an industrial purpose attributing to their acidic applications that have a broad range of colors. The dyes can be divided into three major categories such as levelling, milling and super milling dyes.

Levelling these dyes possess good levelling properties while milling and super milling dyes possess identical properties with the only difference that super milling acids come with a significance strike rate resulting in good fastness. Therefore, based on dye selection and methods, a dyer needs to ensure that the selected dyes possess similar properties.

APAC Acid Dyes Market Outlook

Asia-Pacific region dominated the global dyes market owing to increased manufacturing capabilities in developing economies such as China, India and Indonesia. United States leads the North and South American region in production and export of dyes, followed by Brazil. A number of global players operating in the region have shifted their manufacturing facilities to low-cost APAC countries with less stringent regulations.

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Europe Demand Outlook for Acid Dyes

The key countries covered in this report are Germany, Italy, Spain and Russia. The Various applications included in this market report are Textile, Leather, Paper and others. Further, as a part of qualitative analysis, the Market research report provides a comprehensive review of the important drivers, restraints, opportunities, and burning issues in the dyes market.

Who are the Key Manufacturers and Suppliers of Acid dyes?

Some of the leading manufacturers and suppliers include

Atul Ltd
BASF SE
Gayatri Group
Clariant International Ltd.
Huntsman International LLC
Kiri Industries Ltd.
Equinox Impex India
Meera Dyestuff Industries, Advent Dyestuffs and Chemicals Private Limited
Shanghai Anoky Group Co Ltd

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Key Segments

By Chemical Types:

Monoazo and Bisazo
Nitro
Nitroso
Triphenylmethane
Xanthene
Azine
Quinoline
Ketonimine
Anthraquinone
Phthalocyanin

By Dyeing Type:

Levelling
Fast
Milling
Super milling

By Application:

Wool and silk dyeing
Synthetic polyamide (nylon)
To a small extent acrylics and blends of these fibers.

About Future Market Insights (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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Vulcanization Accelerators Market | Companies Outlook, Growth Prospects and Key Opportunities by 2029

The latest study published by Future Market Insights (FMI) on the vulcanization accelerators market incorporates the global industry analysis for 2014 – 2021 and market opportunity assessment for the forecast period of 2022 – 2029.

The market study divulges decisive insights and offers exhaustive market analysis for the historical as well as forecast period. As per the market assessment in the report, the global vulcanization accelerators market is estimated to witness substantial growth due to growing demand from the tire industry.

The global vulcanization accelerators market was evaluated at ~US$ 1.4 Bn in 2021 and is anticipated to grow with ~4% CAGR during the forecast period i.e., 2022 – 2029. Tire is an irreplaceable automotive component, and its demand has been on the rise over the years.

As tires of heavy vehicles need to be replaced more frequently, the industry is responsible for the maximum consumption of vulcanization accelerators. Thus, growing tire production and replacement activities are estimated to fuel the growth of the vulcanization accelerators market, as reported by FMI.

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Apart from tires, rubber is also used in other automotive parts such as wiper blades, engine mounts, seals, hoses, and belts. Growing automotive production will elevate the manufacturing of automotive rubber parts and components. Thus, increasing the consumption vulcanization accelerators.

Rubber is used extensively in industrial products such as rubber belts, rubber buckets, rubber pads, rubber lining, rubber rollers, and rubber mats, among various other products. Apart from these, rubber finds key application in the manufacturing of medical products such as condoms, surgical gloves, stoppers, tubes, cushioning or supporting materials, breathing bags, implants, prosthetics and catheters, etc.

Thus, growing rubber consumption in medical and industrial sectors is estimated to surge the demand for vulcanization accelerators.

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East Asia to Represent Significant Opportunities for Manufacturers

Japan and China are few of the leading tire manufacturing countries. China is assessed to be a prominent tire producer. Presence of companies such as Yokohama Rubber Company and Bridgestone Corporation, makes Japan a substantial tire manufacturing country.

In addition, China’s auto industry has witnessed significant growth in the recent years, leading to subsequent increase in the tire production. However, fluctuating raw material prices due to trade wars and oversupply of materials are affecting local manufacturers.

Besides, imposition of stringent regulations on tire exports from European countries and the U.S is expected to create further problems for tire manufacturers. However, East Asia is estimated to be a prominent market for vulcanization accelerators, due to increasing sales of passenger and commercial vehicles and rising demand for replacement tires.

Increasing population, improved standards of living, and increasing electric vehicle production will upsurge the demand for tires in East Asia, which will positively influence the growth of the vulcanization accelerators market. Further, increased emphasis on high quality medical and industrial rubber products is expected to propel the demand for vulcanization accelerators in the region.

Thiazoles and Sulfanamides to Remain Prominent Product Choices

The global vulcanization accelerators market has been categorized on the basis of product and application, along with regions.

Based on product, primary accelerators – thiazoles and sulfonamides, are projected to remain prominent product choices in the upcoming years, and are expected to hold a significant share in the global vulcanization accelerators market throughout the forecast period.
Although adoption in automotive industry continues to account for relatively high sales, growing application in industrial sector is likely to result in increased market share. Growing tire production and replacement activities as well as automotive industry growth are estimated to augment the vulcanization accelerators market growth.

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Vulcanization Accelerators Market: Manufacturer Insights

According to the FMI analysis, the global vulcanization accelerators market is moderately consolidated with global and regional players playing key roles. The global vulcanization accelerators market report shades light on few of the key industry players in the global market.

Some of the examples of key players in the market are Lanxess AG, Arkema, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., NOCIL Limited, and Kumho Petrochemical, among others.

FMI study finds that the automotive industry slowdown in the past few months has changed the situation. However, government initiatives, tax cuts, and subsidies will continue to drive the growth of the automotive sector, and subsequently of the vulcanization accelerators market. Also, the increasing demand for vulcanized rubber in the manufacturing of industrial & medical rubber goods is expected to raise the demand for vulcanization accelerators.

Future Market Insights Inc. is Knowledge Partner at Gulf Coatings Show, Sharjah, 17-19 October 2022 where we will be launching our Market Report ‘Coatings 2022: State of the Industry in Middle East’, Register to receive a digital copy of the Market Report and to join our content sessions.

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Perfluoropolyether (PFPE) Market | Size, Share, Industry Analysis, Future Growth, Key Trends and Forecast to 2029

A new research by Future Market Insights on the perfluoropolyether (PFPE) market includes global industry analysis 2014-2021 and opportunity assessment 2022-2029. The report explores the perfluoropolyether market and provides the reader with analytical insights for the forecast period of 2022-2029.

As per the findings of the report, the global perfluoropolyether market is projected to experience a steady growth over the forecast period, due to multiple driving factors including increasing aerospace, automotive and electronic manufacturing activities across geographies.

The global perfluoropolyether market is estimated to reach ~ US$ 758.8 Mn in 2022, and increase at a CAGR of ~ 4.3% during the forecast period of 2022-2029. This progress in the market is majorly propelled by the growing consumption of perfluoropolyether as lubricants for automotive, chemical and aerospace applications such as wheel bearing and vacuum pump, and for high temperature procedures.

Sensing an increase in new aircraft deployment, especially in developing countries in Asia Pacific, manufacturers are tapping into newer opportunities in the region. Increasing demand for highly efficient lubricants in chemical and automotive industries is further likely to work to the advantage of perfluoropolyether market players.

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Europe and North America Lead Gains, South Asia to Offer Greater Opportunities

Although the regions such a Europe and North America are anticipated to hold significant market shares, the South Asia market is expected to project a steady growth in the global perfluoropolyether market over the forecast period of 2022-2029.

Moreover, macroeconomic factors such as increment in GDP, air transportation as well as production, expanding chemical industry and significant growth of the manufacturing sector, are expected to reflect significant increase in opportunities for perfluoropolyether market players in South Asia.

Perfluoropolyether Used Extensively in Aerospace and Automotive Applications

The perfluoropolyether market is categorized into four different segments such as form, application of perfluoropolyether, products, and regions.

By form, the PFPE Oil is expected to hold a higher value as well as volume share against PFPE grease.
By product, the linear perfluoropolyether is projected to attain a significant value shares in the perfluoropolyether market. Linear perfluoropolyethers are widely used as lubricants for the superior chemical properties and multiple applications.
In terms of application, aerospace and automotive sectors will continue to account for relatively high market share. Increasing preference towards non-toxic lubricants from the end users is expected to drive the market. Increasing automotive production is expected to increase the demand for PFPE lubricants. PFPE is also used in other applications such as chemical and electronics, and is recently being used for textile as well as leather applications.

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Perfluoropolyether Market By Category

By Form:

PFPE – Greases
PFPE – Oil

By Product Type:

Linear
Branched

By Application:

Automotive
Aerospace
Chemical
Electronics
Others

Perfluoropolyether Market: Players Insights

The perfluoropolyether market report focuses on a number of stakeholders, some of these players have come out as the market leaders. Few examples of such manufacturers in the perfluoropolyether market are as follows; The Chemours Company FC, LLC, Klüber Lubrication München SE & Co. KG, Solvay S.A., TOTAL S.A., M&I Materials Ltd, HUSKEY Specialty Lubricants, Daikin Industries Ltd., and NYE Lubricants Inc. and FluoroTech USA among various others.

The global perfluoropolyether market is highly fragmented, with multiple tier 2 and tier 3 players. Key players provide perfluoropolyether under their trademarked names such as Fomblin® Series, HUSKEY® PF Series, Vertrel™ XF specialty fluid, Vertrel™ MCA Plus specialty fluid®, and DEMNUM®, among others.

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What was the Impact of COVID-19 Crisis on Global Market of Perfluoropolyether?

With the outbreak of SARS-COV-2 virus all over the globe in the initial quarter of 2020 has resulted in the decrease in the production of automotive, aircrafts and other. Reduce in the movement of the vehicles and aircrafts has impacted the sales of perfluoropolyether significantly in these application segments.

Further shutdown of the manufacturing industries due to social distancing and lockdowns has also impacted the consumption of the lubricants and oil all over the world. However, economic recovery from the second half of the year 2020 and opening of the manufacturing sectors had boosted the consumption resulting in the recovery of the demand.

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Sodium Caseinate Market | Global Industry Analysis, Size, Share, Growth, Trends And Forecast to 2022-2031

According to the latest research from Future Market Insights (FMI), the worldwide sales of sodium caseinate will increase ~5% year-over-year to reach ~270 thousand tons in 2022, up from ~258 thousand tons in 2021.

FMI analysts forecast the sodium caseinate market to grow at a value CAGR of ~4.6% through to 2029, driven by greater demand for functional or fortified foods along with the shift of high-protein trend from niche to mainstream.

The analyst finds that the sheer volume of bakery consumption in recent years has largely contributed the increased sales of different types of protein, thereby potentially raising the demand for sodium caseinate.

Offering whipping and aeration stability to food emulsions, sodium caseinate has garnered significant traction as a viable emulsifier or food additive in various sectors of F&B industry.

However, the launch of animal-free emulsifiers in line with emerging trends of veganism and increasing awareness regarding the impact of food production, especially for animal-based products, on environment will represent a potential threat for the market players.

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Sales of Food Grade Sodium Caseinate to Ramp up in 2021

According to the FMI analyst, the consumption of food grade sodium caseinate, especially for dairy, frozen foods, and bakery & confectionery products, continue to influence the growth strategies of the market players, as the category accounted for three-fourth share of the market in 2018.

To tap into opportunities in different end-use industries, ranging from cosmetics to chemical, manufacturers are focused on increasing the production of industrial grade sodium caseinate, which is likely to represent ~5% increase in sales in 2022.

“Sodium caseinate worth ~US$ 480 million were sold as food additive in 2021, while its application as emulsifier is likely to result in increased market share in the foreseeable future,” said the FMI analyst.

“As today’s consumers move towards highly nutrient products which support weight management and counteract the risk of obesity and other lifestyle diseases, F&B manufacturers are increasingly demanding for sodium caseinate as an ideal fat free stabilizer for wide range of products.”

F&B Industry to Unlock New Profit Pools for Market Vendors

The global food industry no longer looks like its former self, as increased incomes, preferential shifts towards health and wellness, and structural shift towards urban living have brought significant transformation in recent years, according to the FMI analyst.

In 2021, the consumption of sodium caseinate by F&B industry accounted for ~70% sales, while the application in pharmaceuticals and cosmetics is likely to witness a quantum leap in growth in 2022 and beyond. Considering the nature and excellent properties of the product including high degree of emulsification, viscosity-enhancing, and foaming and gas retention, manufacturers are exploring the application of sodium caseinate in chemical and other industrial products.

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Key Companies Profiled

Israel Chemicals Ltd
AGROCOMPLEX Sp. z o.o.
Lactoprot Deutschland Gmbh
Erie Foods International Inc.
Charotar Casein Company
AMCO Proteins
Avani Food Products
Fonterra Co-operative Group
Ningxia Yimei Biotechnology Co., Ltd.
Gansu Hua’an Biotechnology Group

Sodium Caseinate Market by Category

By Product Grade:

Food Grade
Industrial Grade

By Application:

Food Additives
Emulsifiers
Free Fat Stabilizers
Others

By End Use:

Food & Beverages
Pharmaceuticals
Cosmetics
Chemicals
Other Industrial

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East Asia to Take Centre Stage in Sodium Caseinate Market

The FMI analyst forecasts that Europe and East Asia are neck and neck to acquire the leading position in sodium caseinate market. Rising consumer interest in the benefits of high quality ingredients in various food products is likely to offer greater opportunities for market players in East Asia.

In 2021, the East Asia market for sodium caseinate market accounted for ~26% revenue to share, and is expected to record ~6% y-o-y growth in 2022. In the global scenario, the sodium caseinate market shows a high level of fragmentation, with a number of global players collectively accounting for 20-25% share.

The emergence of large number of local consumers catering to domestic end users has resulted into contracted profit margins of the international players. Establishing strong relationship to distribution channel partners and strengthening manufacturing facilities continue to key focal points of the manufactures.

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Industrial Oxygen Market to Witness Sales Slump in Near Term Due to COVID-19; Long-term Outlook Remains Positive

Finds Future Market Insights (FMI) in a recent research study. As per the study, the industrial oxygen market is anticipated to witness a growth rate of 7.9% during the coming assessment period. Growth in the steel industry is expected to boost the demand for industrial oxygen, as commercial oxygen is used in the production of materials such as stainless steel.

Growing demand for oxygen from various industries, including metal fabrication and welding, aerospace and automotive, chemical, metallurgy, construction and steel industries, and the healthcare sector are anticipated to boost the demand of industrial oxygen in the coming decade.

Expansion of construction and automotive sectors is expected to indirectly boost the demand of industrial oxygen in the coming years. The growing aerospace industry is also expected to bolster the demand for commercial oxygen in the near future, as liquid oxygen is used as fuel.

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Moreover, the growing healthcare sector also has boosted the consumption of industrial oxygen. During the pandemic, the demand for oxygen witnessed a sudden surge owing to the increasing number of COVID-19 patients all over the globe in the year 2020 and 2021. These factors will prove crucial for continued growth of the global industrial oxygen market.

The market is further anticipated to reach a value of US$ 129.77 Bn by the end of the forecast period. With the growing demand for metals, from the construction and automotive sector, the demand for industrial oxygen is also expected to witness substantial growth, since oxygen is used in the production of steel and alloys.

Key Takeaways from Industrial Oxygen Market Study

Liquefied oxygen will witness significant growth in demand from aerospace, healthcare, construction, and steel industries. It will hold around 55% of the global value share.
Growing demand for oxygen for application in chemical processing is also anticipated to bolster sales, accounting for over US$ 8.3 Bn in 2021.
The North America market is dominated by the U.S., accounting for over 84% of the regional market, driven by relatively higher levels of industrial investment.
Germany and France hold the lead in Europe, with a valuation of over US$ 2.5 Bn and 2.3 Bn in 2021.
Driven by developments in the industrial and infrastructure sector, China is expected to remain a key market, accounting for more than 65% of the East Asia value share.

“The healthcare sector has been exhibiting demand for oxygen amid COVID-19 outbreak owing to the critical requirement of oxygen supply for the surging number of covid-19 patients, resulting is supply shortages in many markets,” said a lead analyst at FMI.

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Industrial Oxygen Market by Category

By Product Type:

Compressed Oxygen Gas
Liquefied Oxygen
Oxygen Gas Mixture

By End Use:

Automotive & Aerospace
Chemical Processing
Energy
Construction & Metallurgy
Medical & Healthcare
Food & Beverages
Welding & Metal Fabrication
Others

Who is Winning?

Leading players in the industrial oxygen market are focusing on strategic expansions by bolstering production capacity, opening new plants in emerging economies, in addition to collaborations and partnerships to provide high quality products and to increase market presence. These companies are also focusing on strengthening of their product portfolio and developing stronger distribution partnerships.

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Key manufacturers in the industrial oxygen market include but are not limited to Matheson Tri-Gas Inc, Air Products and Chemicals, Inc. Noble Gas Solutions, Air Liquide, LINDE plc, Gulf Cryo, SOL Spa, Messer Group GmbH, Showa Denko K.K., Air Water Inc., Ellenbarrie Industrial Gases Ltd., Taiyo Nippon Sanso Corporation, KOATSU GAS KOGYO CO., LTD., Yingde Gases Group Co., Ltd., Daesung Group, INOX Air Products Private Limited, International Industrial Gases Limited, Axcel Gases, ECHO Gases Pvt. Ltd., Premier Cryogenics Ltd., Bhuruka Gases Limited, Seva Gases Private Limited and Piramala Gases.

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2K Coatings Market set to Witness Prominent Growth at 5% CAGR by the end of 2031

2K coatings provide excellent waterproofing solutions by preventing water leaks. The coatings act as a barrier, which enables structures such as bridges, floors, buildings, wood finishes dams, wells, as well as exterior and interior walls to function in demanding situations and environments.

According to latest research, 2K Coatings Market is set to witness prominent growth during the period 2021-2031, with a CAGR of more than 5% during the period.

The main reason behind the growing market is the continuously rising demand from construction of residential, commercial buildings. Besides, construction projects in developing countries, the rise in the demand for maintaining durability, protection from acid rain & bad weather and the need for long time stability has further boosted the market of protective coating globally.

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What is Driving Demand for 2K Coatings?

2K Coatingss are used for protecting & maintaining the existing substrates to extend lifestyle. Many industries have systems that run on continuous operations. Several of them are exposed to environmental changes or involve the use of harsh materials.

This results in the deterioration in the structure of the equipment or decline in the efficiency of the process, which causes shutdown of the plant or stoppage in the overall operations. The coatings help in preventing these issues, thereby saving on the cost of shutdown and replacement of equipment.

The marine industry is prone to damage to vessels, ships, and docks due to the corrosive action of seawater. Waterproofing coats and joints & crack filling coats are widely used for maintenance in these industries. These protective coatings are generally applied on marine parts made of steel, aluminum, fiberglass, and other substrates. They are used for cargo vessels, tankers, tug barge, workboats, motor launch, and hydrofoil.

Civil Building and Infrastructure Industry to Remain a Key Segment for the Consumption of 2K Coatings

2K Coatingss are used in the civil building and infrastructure industry for flooring, wood finishes, interior & exterior walls, bridges, swimming pools, doors, and ceilings.

This particular type of coatings forms a thin layer on the surfaces on which they are applied and are used for increasing the longevity and stability of the structures. Bridges, highways, and infrastructure projects are essentially in need of long-time stability and the ability to withstand harsh weather conditions, such as acid rains.

Degradation of structures results in rusting of metal surfaces, fading, cracking of concrete, leakages, and growth of micro-organisms such as algae and fungi. These may directly or indirectly affect the life of buildings and increase the cost of replacement and maintenance. Waterproofing coatings are usually applied to walls and floorings in bathrooms, kitchens, hotels, and swimming pools to prevent leakages and avoid moisture from deteriorating the structures.

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US and Canada 2K Coatings Market Outlook

The U.S. is one of the markets for coatings globally. The market in U.S. is set to be driven by increased construction spending and demand from the automotive and transportation sectors as well. The region’s highly developed Building and Infrastructure industry is the primary reason for its significant market share.

The presence of key market participants in U.S. and Canada is also favoring the market growth by ensuring smooth supply. The high R&D spending on Marine and Construction sector in U.S. has also created lucrative opportunities to fasten the demand of Protective Coatings

Asia Pacific Demand Outlook for 2K Coatings

The infrastructure & construction industry is growing rapidly in the APAC region. APAC is one of the largest and fastest-growing markets for the infrastructure & construction sector. APAC has emerged as one of the leading producers as well as consumers of coatings. APAC is the hub of foreign investment and booming industrial sectors due to the low-cost labor and cheap availability of lands.

Increase in the demand for coatings can be largely attributed to the growing industrial, infrastructure & construction, and marine industries. APAC has a growing power industry that is likely to drive the market for coatings.

India produces most of its power through coal and is planning to increase solar energy generation with newer solar projects. These factors contribute to the rising demand for coatings in APAC.

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Who are the Key Manufacturers and Suppliers of 2K Coatings?

Some of the leading manufacturers and suppliers of 2K Coatings include

Akzonobel N.V.
PPG Industries
The Sherwin Williams Company
Jotun A/S
Hempel A/S
Chukogu Marine Paints Ltd
Nippon Paints Holdings Co. Ltd
Kansai Paint Co. Ltd.
Sika AG
RPM International Inc.
Axalta Coating Systems LLC
Dulux Group
BASF SE
Parker Hannifin Corp
Berger Paints India Ltd
Tnemec Company, Inc.
Cloverdale Paint Inc.
Teknos Group OY
Weilburger Coatings GmbH
Guangdong Maydos Building Materials Limited Company
Fosroc Inc.and many more.

With the implementation of lockdown at the global level, industries are badly affected globally, due to the halt in business activities. Construction industries and real estate industries are badly impacted sectors globally. This has impacted the market growth of 2K coatings.

As the raw material like chemicals, Solution mixture and other things storage was happening due to trade restriction. However, even after a huge drop in the revenue in 2K protective coating market during the pandemic times, the growth of the market is expected to reach back to normalcy in the next few quarters.

The 2k Coatings report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, 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 segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Key Segments

By Region Type:

Epoxy
Polyurethane
Alkyd
Acrylic
Others

By End User:

Oil & Gas Exploration
Petrochemicals
Marine
Cargo Containers
Power Generation
Water Treatment
Building and Infrastructure
Food and Beverage Production Units

Oilfield Chemicals Market: Recent Trends, Demand, Dynamic Innovation in Technology & Insights by 2029

Future Market Insights, in its latest report titled ‘Oilfield Chemicals Market: Global Industry Analysis 2014 – 2021 and Forecast 2022 – 2029,’ offers key insights and analysis of the global oilfield chemicals market. The research study conducts an in-depth analysis and provides key market insights on the oilfield chemicals market for the forecast period (2022–2029).

Based on key insights, the oilfield chemicals market is expected to experience significant demand over the forecast period due to an increase in the number of exploration activities worldwide, owing to an increase in the need for energy across the world. The global oilfield chemicals market is estimated to grow at a CAGR of nearly 4% during the forecast period.

Crude Oil Production and Processing Consumes Voluminous Oilfield Chemicals

The increasing number of exploration projects in the countries of Europe and MEA, such as Russia, Kazakhstan, Saudi Arabia, and several others, is estimated to support the demand for oilfield chemicals. These countries have oil reserves, which, in turn, support the demand for oilfield chemicals.

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Furthermore, APAC is a major market owing to the establishment of new refineries to cater to the growing demand for new units in the country. In addition, the increasing demand for refinery and petrochemical products across various end-use industries is an indication for the future demand for efficient crude oil.

To fulfil the demand for crude oil products, vendors have increased their refinery capacities. Attributing to this, manufacturers of crude oil are focusing on expansions as well as on increasing investments on clean fuel. Moreover, a significant volume of oilfield chemicals is utilized in the production and processing of crude oil.

Oilfield chemical act as the backbone of the refinery sector and oil & gas exploration sector across the globe. To meet this cumulative demand, key players of the oilfield chemicals market are expanding their manufacturing and production facilities to emerging regions, such as India & China, with an aim to reduce the operational cost owing to the abundance of economical raw materials and the availability of low-cost labour and in these regions.

‘Inhibitors’ to Remain Preferred Type of Oilfield Chemicals

Segmentation on the basis of product type of oilfield chemicals: The inhibitors segment is projected to lead the global oilfield chemicals market in terms of value, followed by the gas well foamers segment. In terms of growth rate, the H2S scavengers equipment segment is expected to lead the market with an approximate CAGR of 5% over the forecast period
Segmentation on the basis of application of oilfield chemicals: The drilling & completion oilfield chemicals segment is projected to lead the oilfield chemicals market by application, and accounts for high demand across the world
Segmentation on the basis of terrain type: The onshore segment is estimated to capture a higher market share over the forecast period

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Profitability of Asian Markets for Oilfield Chemicals Continues to Rise

North America is a mature and prominent region with significant demand for oilfield chemicals. Asia Pacific is estimated to emerge as a profitable and high-growth region in the oilfield chemicals market. The demand for oilfield chemicals in these regions is also mainly driven by the rising oil & gas exploration activities in the region.

MEA, Eastern Europe, and Latin America are also projected to be above-average growth regions in terms of volume and value, owing to the presence of already established markets in these regions. The market in the Middle East & Africa (MEA) is expected to experience moderate growth over the forecast period as it is an already established market.

Oilfield Chemicals Market by Category

By Product Type:

Inhibitors
Lubricants
De-Emulsifiers
Viscosfiers
Gas Well Foamers
Biocides
H2S Scavengers
Others

By Application:

Drilling & Completion
Cementing Chemicals
Stimulation Chemicals
Oil Production Chemicals
Enhanced Oil Recovery Chemicals

By Terrain Type:

Onshore
Offshore

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Global Oilfield Chemicals Market: Vendors Landscape

The oilfield chemicals market is moderately fragmented owing to the presence of a large number of local and established players. The report provides details of some of the key players in the global oilfield chemicals market, such as Albemarle Corporation, Akzo Nobel N.V., DowDuPont Inc., Baker Hughes, a GE Company LLC, Halliburton Co., BASF SE, Flotek Industries, Inc., Ashland Inc., Schlumberger Limited, Solvay SA, Clariant AG, GEO Drilling Fluids, Inc. Innospec Incorporated, and Chevron Phillips Chemical Company LLC.

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Neopentyl Glycol (NPG) Market | New Technological Development Projecting Massive Growth till 2028

Neopentyl glycol (NPG) market is projected to expand at a 4.6% CAGR between 2022 and 2028, totaling a valuation of US$ 1.93 Bn by 2028. Global neopentyl glycol (NPG) consumption was registered over 680 thousand tons in 2018, which is likely to witness a moderate 4.2% Y-o-Y increase in 2019.

As per the findings of a new research study of Future Market Insights (FMI), neopentyl glycol of technical grade currently accounts for over 95% share in the NPG market and will remain dominant over its pharma-grade counterpart through the course of coming years.

Application in Paints & Coatings Accounts for over 60% of NPG Demand

More than 3/5th of the total consumption of neopentyl glycol is registered by applications in paints and coatings industry, as indicated by the report. In recent years, the use of protective coatings in surface finishing and protection applications has been increasing at a considerable pace, which is in turn favoring the demand for neopentyl glycol for incorporation into coating materials.

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Lubricants and insulation materials are likely to remain the next key application areas for manufacturers of neopentyl glycol and NPG based products. The report also foresees relatively promising opportunities lying in the adhesives and sealants category, over the years to come.

Building & Construction Industry to Accommodate Higher Opportunities

While the collective share of NPG consumption by automotive and transportation, and building and construction industries is currently over 75% of the global consumption of neopentyl glycol, FMI’s analysis opines that the latter will accommodate relatively higher opportunistic potential for neopentyl glycol manufacturers.

Moreover, industrial plant and equipment domain is strongly likely to reflect relatively profitable opportunities for the growth of NPG manufacturing companies in the near future. With an approximate share of 3/4th of the total consumption of neopentyl glycol, NPG flakes are highly likely to remain the most preferred form in the global market.

Neopentyl glycol slurry, though also is a choice of form among several end use industry operators, will continue to reflect a gradual growth outlook in the NPG market. High convenience quotient, easy usability, and low maintenance in terms of transportation and application will remain the key growth influencers for neopentyl glycol flakes in the market.

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Potential as a Sustainability Vehicle to Propel Consumption of Neopentyl Glycol

The overall growth outlook of neopentyl glycol market will remain promising, majorly owing to a rapid legislative shift toward low/non-VOC chemical compounds, across industries worldwide. Neopentyl glycol is being increasingly explored as a phase change material for potential application in LTHS (latent heat storage) devices, which is cited as a significant opportunity for manufacturers.

In addition, to mitigate the challenges associated with extensive usage of PET (polyethylene terephthalate), the role of neopentyl glycol in the chemical recycling of PET is being tested. According to the report, emergence of such innovative applications will uplift the growth prospects of neopentyl glycol market in coming years.

China, with over a third of the total NPG consumption, is forecast to retain the world’s leading neopentyl glycol supplier – further trailed by the US and Germany. China has also been the most prominent consumer of neopentyl glycol over the years and is likely to discover the highest incremental opportunity in long run, which has been attributed to thriving markets of unsaturated polyesters, coatings and lubricants, and plasticizers within China.

On the other side, Western Europe and North America hold a combined share of around 1/3rd of the total neopentyl glycol consumption in the global market.

Key Manufacturers Eye Production Capacity Expansion

The global neopentyl glycol market is a fairly consolidated competition landscape, which is currently witnessing a major trend of manufacturing capacity expansion. Apart from BASF-YPC’s highly anticipated 2X NPG production expansion project that will go on-stream by 2020, Oxea GmbH also recently announced the NPG expansion project planned for European base.

Several key players in the market are prominently concentrating on competitive pricing through distribution/supply agreements with regionally leading end use industries.

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The report has covered detailed strategic profiles of some of the leading companies in global neopentyl glycol market, including BASF SE, Eastman Chemical Company, MITSUBISHI GAS CHEMICAL COMPANY, INC., OXEA GmbH, Wanhua Chemical Group Co., Ltd., TCI Chemicals (India) Pvt. Ltd., LG Chem Ltd., Perstorp Holding AB, Shandong Dongchen Ind. Group. Corp., Zouping Fenlian Biotech Co., Ltd., and Hefei TNJ Chemical Industry Co., Ltd.

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Tire Materials Market Report | Size, Growth, Demand, Scope, Opportunities and Forecast to 2028

Future Market Insights recently published a report titled “Tire Materials Market: Global Industry Analysis 2013–2021 and Opportunity Assessment 2022–2028” that offers decisive insights pertaining to the global tire materials market and provides extensive information through organized market research.

According to the report, the global tire materials market has been envisaged to approach the valuation of US$ 100 Bn towards the end of forecast period.

Silica to Witness an Upsurge in Demand with Increasing Production of Green Tires

Synthetic rubber and fillers used in automotive tires have significantly changed over the past decade. Attributing to the rising environmental concerns, many regions have formed regulations that mandate tire labeling.

The implementation of labeling initiatives and growing environmental concerns have led to an increase in the production of high-performance tires or green tires. Regulatory bodies have also laid incentives for manufacturers and consumers with a preference for performance tires.

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Due to the adoption of green technology, silica is extensively being used as a filler material as an effective replacement for carbon black in the recent years. The adoption of silica in the production of green tires has reduced CO2 emissions almost by 7% and increased fuel efficiency. Thus, increasing focus towards the reduction of carbon footprint and greenhouse gas effects is driving the demand for silica in tire production.

Increasing Automotive Production and Ever-rising Size of Vehicle Fleet to Boost the Tire Materials Market

Tires are a vital part of the automotive industry and thus, the production and sales of vehicles directly affect the dynamics within the tire industry. Increasing automotive production in emerging economies has been driving the demand for tires from OEM manufacturers, which has led to an increase in tire production activities.

Growing tire production is driving the demand for tire materials. In a vehicle, a tire is one such part that must be replaced frequently, after every 2-3 years.

A tire experiences maximum wear and tear. Further, it is estimated that in FY2017, the global vehicle parc was about 1.3 Billion. Thus, it can be easily concluded that the growing vehicle parc and production will augment the market of automotive tires.

Expansion of the tire industry is expected to fuel the demand for tire materials while the growing fleet size will add to tire replacement activities and indirectly influence the demand for tire materials.

Increasing middle-class population, coupled with rising urbanization in developing countries, is expected to increase the number of vehicle owners as many people will be able to afford vehicles. Apart from this, the increasing youth population has also led to an increase in the sales of automotive, which is a positive sign for the tire materials market.

Also, changing lifestyle and increased standard of living have increased the adoption of high-performance tires as well as branded tires, which is expected to positively impact the tire materials market.

The increasing number of vehicle owners will push the growth of both OEM as well as aftermarket segments and thus, the growing demand for tires is expected to boost the tire materials market in the coming period.

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Tire Materials Market by Category

By Material Type:

Natural Rubber
Synthetic Rubber
Fillers
Process Chemicals
Steel Cords
Textile Cords

By Tire Types:

Solid Tire
Pneumatic Tire
Retreated Tires

By Vehicle Types:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Wheelers

East Asia will Become a Prominent Regional Market for Tire Materials

The global tire industry has been witnessing a shift in tire manufacturing activity, with East Asia and South Asia accounting for more than 50% of tire manufacturing facilities. Easily available raw materials, economic & political stability, and availability of skilled & cheap labor have attracted key tire manufacturers to invest in East Asia and South Asia.

China and Japan are prominent tire manufacturing countries wherein China is estimated to be the leading tire producer and the presence of companies such as Bridgestone Corporation and Yokohama Rubber Company makes Japan a promising tire manufacturing country, owing to which East Asia is estimated to be the prominent market for tire materials.

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North America and Europe tire industries are estimated witness a slowdown in the coming years, due to the increasing competition from Chinese tire manufacturers and their low-ranged products. However, North America and Europe are anticipated to be potential markets for tire materials, owing to the predominance of key tire manufacturers in the region.

Solvay SA, Lanxess AG, Exxon Mobil Corporation, JSR Corporation, Cabot Corporation, Birla Carbon, and Evonik Industries AG are among the key players identified in the tire materials market.

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