Market Research Blog

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.

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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.

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.

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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Future Market Insights (FMI) brings key insights on the global rapeseed oil market in its forthcoming outlook titled, ‘Rapeseed Oil Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027‘. By value, the global rapeseed oil market is anticipated to register a CAGR of 3.7% over the forecast period, due to various factors, regarding which, FMI offers vital insights in detail.

Rapeseed oil is extracted from the oilseed rape plant by pressing out transparent and translucent liquids. Rapeseed oil is a yellow-golden or yellow-brownish oil, and has a certain stimulating aroma known as the green smell. The smell holds a certain amount of mustard glucoside. Rapeseed oil contains no cholesterol, so consumers having high cholesterol levels can be at ease.

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Rapeseed Oil – A Viable Option to Replace Olive Oil

From a formerly obscure inedible oil, to more than few billion dollars crop, addressed among the healthiest edible oils in the market today, the transition of rapeseed oil is truly spectacular. Recognized as an alternative to olive and other edible oils that is as healthy and equal in taste, but more versatile to cook with, rapeseed oil is gaining intrinsic popularity. Of all the edible oils made for human consumption and in the industry, rapeseed oil is among the top three. Carefully made, rapeseed oil is a rage in restaurants.

The cabbagey flavour that it provides means that there are no limits to its versatility. This versatility of rapeseed oil has resulted in an entire portfolio of rapeseed oil products, from its use as an ingredient in vegetables, baked goods, ready-to-eat meals, and in personal care and cosmetic products such as lotions, hair oil, and more, and also in biodiesels. Rapeseed oil is emerging to be a big business today. A sudden interest is being observed in rapeseed oil, and a meteoric rise is expected in the coming years.

In revenue terms, the global rapeseed oil market is accelerating at a rate of 3.7%, and reached a value of around US$ 27,600 Mn in 2017. The region generating the highest revenue for rapeseed oil is Europe, with a share of more than 40%, assisted by the higher prices of rapeseed oil as compared to other regions.

Rapeseed oil is extracted from rape oilseeds – scientific name is Brassica napus. The seeds are maintained at high temperatures, using solvents and chemicals for bleaching, degumming, and refining the product. The result obtained is a bare, neutral, though useful standard edible kitchen rapeseed oil.

Rapeseed oil is a fairly healthy product, with saturated fat less than in olive oil. It’s also high in various compounds such as omega-3 and omega-6. Rapeseed oil’s composition of fatty acids is nearest to human needs. It contains low saturated fatty acids and low erucic acid. Rapeseed oil also contains sterol, which is more than beneficial to the human body. The consumption of sterol helps in reducing cholesterol, and fighting cardiovascular diseases, physiological functions, and cancer. Rapeseed oil is also rich in vitamin E, iron, carotenoids, selenium, and other vital elements.

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Market segmentation

Global Rapeseed Oil Market – By Nature

• Organic
• Conventional

 Global Rapeseed Oil Market – By End Use

• Food Processing
• Cosmetic and Personal Care Products
• Biodiesel
• Animal Feed
• Households (Retail)

Global Rapeseed Oil Market – By Extraction Process

• Solvent-Extracted
• Cold-Pressed

 Global Rapeseed Oil Market – By Sales Channel

• Direct Sales
• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Retail Stores
• Traditional Grocery Stores
• Online Retailers

Unlike olive oil, rapeseed oil doesn’t turn toxic when preheated, whereas, a smoke point higher than that of olive oil makes it slightly more appropriate for cooking or deep-frying. In the last few years, there has been an outpouring in artisanal cold pressed rapeseed oils, which are commercialized much like the olive oils.

Production has risen from a few thousand tons in the last decade to a few million tons today, increasing manifold the last ten years. The cultivation of rapeseed oil not only has a very low impact on the environment, but the oil is enormously good for one’s health. More and more consumers are mindful of what they consume, which makes rapeseed oil popular.

Economic growth is one of the factors expected to continue advancing the average per capita oil consumption in many developing nations. Further, swelling demand from the biodiesel sector is projected to consume roughly 20 percent more than last year. Higher obligatory blending charges and the making of additional production units in several nations are driving growth in the biodiesel industry.

The major producers of rapeseed oil are India, China, Canada, and the European Union. Much of the increase in the rapeseed oil market is expected to originate in Asia, with China being the most dominant player, with food and oleo chemical uses the main zones of growth.

This report of the rapeseed oil market includes the trends driving each segment, and provides analysis and insights of the potential of the rapeseed oil market in various regions. Latin America is expected to register a high growth rate between 2018 and 2027, and North America is expected to remain a fairly significant market for rapeseed oil through to 2027. According to market attractiveness, North America and Latin America are relatively more prominent regions in the rapeseed oil market. Some of the key players in the rapeseed oil market are Wilmar International Ltd., Oilio (Archer Daniels Midland), ViOil Group, Biona Organic, and Yorkshire Rapeseed Oil, among 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.

Contact:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com

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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.

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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The patchouli oil market, globally, is expected to grow at a CAGR of 2.8% in terms of revenue during the forecast years. Revenue obtained from the global patchouli oil market is projected to reach US$ 86.6 Mn by 2028.

Patchouli oil is extracted from the leaves of the patchouli plant. This extraction is carried out either by steam distillation or hydro distillation. There are two types of patchouli oil depending on the type of equipment used for the extraction procedure – light patchouli oil and dark patchouli oil.

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With increased adoption in various end-use industries including cosmetics and personal care—specifically perfumery, aromatherapy, food processing, and pharmaceutical, demand for patchouli oil is projected to grow. However, the patchouli oil demand is anticipated to remain elastic as farmers in the Sumatra Region of Indonesia—largest producer of patchouli oil, are making a shift towards other crops owing to price volatility, thereby impacting the overall development of global patchouli market.

However, to reverse such market dynamics associated with patchouli oil, global manufacturers are making notable investment to provide sustainable livelihood to Indonesian farmers of patchouli plants. Recently, Givaudan, in its initiative to develop a sustainable patchouli supply chain in Indonesia, is likely to set up patchouli distillation units in the region, along with training patchouli farmers and their families on efficient distillation and agricultural practices.

Joint partnerships between manufactures and farmers in anticipated to translate into good quality patchouli, in the coming years. According to a new research released by Future Market Insights (FMI), the market for patchouli oils in MEA and developing economies of APAC will record comparatively higher growth than in developed markets.

Patchouli Oil Market Structure Analysis

Produced in region pockets of Indonesia, India, China, Malaysia, and Taiwan, patchouli oil is mostly dominated by regional players including PT Mitra Ayu Adi Pratama, PT Aroma Essence Prima, Nusaroma PT, and Eastern Agencies Aromatics Pvt. Ltd, accounting for nearly 45-60 percent market share. However, the multinational players such as Ultra International B.V., Givaudan SA, Takasago International Co., Firmenich SA, and PT Indesso Aroma, having a comparatively larger share in the patchouli oil market than the regional players, hold nearly 20-35 percent market share. Regional players rely on joint partnerships with multinational companies to reach a larger market.

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FMI anticipates potential investment opportunities for new players, considering increasing demand for essential oils across several end-use industries, specifically the global fragrance and cosmetics industry in MEA. In addition,

• Latin America and Eastern Europe are projected to represent notably low demand for patchouli oil, considering the dormant cosmetics and essential oils market in the regions.
• Demand for patchouli oil in MEA is likely to surpass demand in North America and Western Europe, owing to growing demand for clean label and organic products,
• Owing to robust distribution networks, demand for patchouli oil in North America and Western Europe is expected to remain promising.

Consumers Demand ‘Clean Labels’ and ‘Purity Certifications’

Paradigm shift towards more organic and natural ingredients in the goods coupled with good manufacturing practices, is estimated to increase the demand for natural and organic patchouli oils in the global market. Moreover, as demand grows for minimally processed, plant derived essential oils such as the patchouli oil offers all-natural alternatives to synthetic food additives and preservatives as effective antimicrobial agents. Manufacturers, on the other hand, could experiment with the average pricing of good containing naturally-obtained patchouli oil. Looking ahead, natural and organic skin care products will be also be boosted by demands for clean label products.

Increasing demand for ‘eco-perfumes’ that no longer have animal notes, are also contributing to the sales of patchouli oil in the global market. Manufacturers are increasingly replacing synthetic perfumes with natural ingredients in perfumes including the patchouli oil, as a fixative. Patchouli oil has found widespread adoption in the perfumery industry, owing to its ability to slow the evaporation process of other volatile oils. Moreover, consumers are also demanding organic certifications natural and pure oil including iFEAT, USDA Organic, and FSSC 22000, translating into higher sales of products with such certifications. FMI anticipated higher demand for organic patchouli oil variants in the coming years, representing an annual growth rate of around 4.4% considering increased efforts by manufacturers to cultivate their own organic patchouli plants and further educate farmers.

Global Patchouli Oil Market: Segmentation

Analysis by Product Type

• Light Patchouli Oil
• Dark Patchouli Oil

Analysis by Nature

• Organic
• Conventional

Analysis by Extraction Process

• Steam Distillation
• Hydro Distillation

Analysis by End Use

• Cosmetics and Personal Care
  • Hair Care
  • Skin Care
  • Perfumes and Fragrances
• Aromatherapy
• Food and Beverages
• Pharmaceuticals
• Others (Detergents, Household Cleaning, Insect Repellents)

Analysis by Function

• Anti-inflammatory
• Antidepressant
• Flavoring Agent
• Mood Harmonizer
• Deodorizer
• Others

Analysis by Distribution Channel

• Direct Sales
• Indirect Sales
  • Specialty Stores
  • Drug Stores
  • e-Retail

Analysis by Region

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

Key Insights Drawn from Global Patchouli Oil Market Report

• North America is anticipated to hold around 27.5% share in terms of value in the global patchouli market in 2018, considering a well-established supply chain in the region.
• APAC patchouli market is projected to witness rapid growth, and register a CAGR of 3.4% over the forecast period of 2018-2018, owing to the increasing demand for patchouli oil in the growing markets of Asia.
• In terms of product type, dark patchouli oil, will find increased preference aromatherapy, pharmaceuticals, and insecticides.

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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.

Contact:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com

Browse Other Reports: https://www.futuremarketinsights.com/reports

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The colloidal silver market is valued at US$ 500 Mn in 2021. It is set to grow at 7.3 % CAGR through 2030. The analysts at Future Market Insights (FMI) followed a multidisciplinary approach during the pandemic to study the growth and development of the Colloidal Silver Market. The report features insights on the current growth dynamics and the major revenue reforms prevailing in the market as of 2020 along with the key takeaways over the forecast period 2021 to 2030.

The team of researchers at Future Business Insights are focussing on research and market study to produce different Colloidal Silver Market forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Colloidal Silver Market.

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Key Players

The writer will create content on the general strategies of market players. And then will write the key players in the market are:

• Sigma Aldrich (Merck KgaA) (North America)
• Source Naturals (North America)
• Trace Minerals Research Ltd. (North America)
• Alfa Aesar (North America)
• American Elements (North America)
• Strem Chemicals Inc. (North America)
• Laboratorios Argenol (Europe)
• Nano Iron S.R.O (Europe)
• Nano Labs (Asia)
• Reinste Nano Venture Pvt. Ltd. (Asia)

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Segmentation

The report provides insights on the important highlights and current trends prevailing in the market. This helps the readers to gain a deeper understanding and form an unbiased opinion on the market. Numerous segmentations have been provided for this market based on:

Particle Size

• 5-10 nm
• 11-20 nm
• 21-50 nm
• 51-100 nm
• 101-200 nm

Form

• Liquid
• Powder

End-Use

• Healthcare
• Wound Dressings
• Medical Devices
• Pharmaceutical Products
• Others
• Dietary Supplements
• Food & Beverage Processing
• Cosmetics & Personal Care
• Consumer Goods
• Electronics
• Textiles
• Water Treatment
• Paints & Coatings
• Other Industrial

Reasons to Buy the report

• The report includes authentic analysis of the market and the present developing trends in the market affecting the growth. FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. This ensures that the data collected is from highly reliable sources.
• We provide accurate insights on various market trends to enable businesses to make informed and beneficial decisions to attain competitive edge over key players.
• Our analysts provide detailed market segmentation along with useful insights and extensive reports that other companies fail to include. The report comprises the market trends, key players and shift in the demand throughout the forecasted period.

Key Segments Profiled in the Natural Food and Beverage Preservatives Market

By Product Type:

• Natural preservatives
• Salt
• Sugar
• Alcohol
• Vinegar
• Rosemary Extracts
• Others
• Artificial preservatives
• Benzoates
• Sodium Benzoate
• Benzoic Acid
• Nitrites
• Sodium nitrates
• Sulfite
• Sulphur Dioxide
• Acetic Acid
• Sodium Diacetate
• Lactic Acid
• Sorbates
• Sodium Sorbate
• Potassium Sorbate
• Propionates
• Others

By Function:

• Antimicrobials
• Antioxidants
• Chelating Agents
• Flavoring agents
• Texturants
• Emulsifier
• Others

By Application Type:

• Bakery
• Beverages
• Confectionery
• Meat, Poultry & Seafood
• Frozen Food
• Dairy products
• Snack Food
• Fats and Oils
• Others

By Form:

• Solid
• Liquid

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia-Pacific
• Japan
• Middle East and Africa

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About Us

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:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
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Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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