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Drilling mud applications are expected to account for substantial revenues amongst all applications, in the global barite market. Untapped opportunities in the medical industry are also generating incremental opportunities for manufacturers. Barite would experience steady demand growth in paints and plastics industries, as it is widely utilized to control the viscosity and add brightness to end products.

Global barite market will cross the US$ 2 Bn mark by the end of 2030. Expansion of the automotive industry is creating revenue streams for manufacturers due to growing demand for brake pads and clutches for cars, as indicated by a new Future Market Insights (FMI) report.

Key companies in the barite market are set to experience disruptions in supply chains owing to recent developments related to coronavirus crisis. Manufacturers are accelerating efforts to join the fight against COVID-19 pandemic by taking a step forward to donate barite cement for the construction of hospital radiotherapy bunker where coronavirus treatments are carried out.

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Key Takeaways of Barite Market Study

• Innovative approaches in determination of normal and abnormal anatomy of the gastrointestinal tract with the help of high-purity barite holds promising business potentials.
• Barite is being extensively used as a weighted filler in paper, textile and rubber production.
• Manufacturers are focusing on construction sector where barite is mixed with cement to make special containers used to store radioactive materials.
• North America being the frontrunner in terms of revenue amongst all regions has created opportunities for manufacturers to comply with the regulations of the American Petroleum Institute to innovate in weighting agents for oil & gas industry.

Demand for weighting agents in the ever-increasing oil & gas industry are creating a stable business ground for manufacturers. Untapped opportunities in construction industry owing to demand for high density cement is fueling market growth.

Lucrative Opportunities in Paints & Coatings

Companies in the barite market are increasing their production capabilities to manufacture paint-grade barite powder. This has deployed ease in handling and beneficial in transportation activities. High whiteness, low impurity and excellent dispersibility are key imperatives that are highly preferred in paint-grade barite powder.

Latex paints, coatings and pigments amongst others are fueling demand for barite powder. Increasing number of powder coatings applications in households and other interior applications are generating value-grab opportunities for manufacturers.

Demand for Weighting Materials in Petroleum Industry to Bolster Market Growth

Fine grinding applications are catalyzing the demand for barium sulfate, owing to its high density and chemical inertness. An overwhelming majority of barite is being pervasively used in the petroleum industry as a weighting agent in the formulation of drilling mud.

As such, the revenue if drilling mud applications is predicted to climb high growth from US$ 1 Bn in 2022 to US$ 1.4 Bn by the end of 2030. Commercial deposits of barite are primarily found in the U.S., China, India and Morocco.

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Barite Market by Category

By Form:

• Lumps
• Powder

By Grade:

• Up to SP 3.9
• SP 4.0
• SP 4.1
• SP 4.2
• SP 4.3 and Above

By Application:

• Drilling Mud
• Pharmaceuticals
• Rubbers & Plastics
• Paints & Coatings
• Textiles
• Others

Manufacturers Prepare for Volatile Demand Amidst COVID-19 Pandemic

Employee and worker safety amidst the coronavirus crisis has become the first priority of companies in the barite market. Hence, manufacturers have adopted telecommunication to support remotely via phones, Skype and VPN amongst other communication platforms. Global economic turbulences are anticipated to affect the barite market. Manufacturers are increasing efforts to devise contingency plans to address the uncertainty associated with lockdown relaxations in the upcoming months.

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According to the conclusions of the FMI research, during the projected period, the global catalog management systems market is estimated to increase at a CAGR of 8%, from USD 1.3 billion in 2021. Rising consumer demand for items, expanding internet access, and increasing smartphone prevalence are likely to fuel catalog management systems market expansion, acting as a stimulus for catalog management solutions from e-commerce businesses. The catalog management systems market is fragmented since a significant number of firms compete in it.

The major factors projected to boost the usage of catalog management software among companies and SMEs across a variety of sectors, including retail and e-commerce, media and entertainment, telecom, IT, and travel and hospitality, are increased cloud adoption and digital transformation.

Vendors in the catalog management systems market could expect additional prospects in developing nations throughout APAC and MEA. The market for catalog management software manufacturers is now profitable, as multiple firms from various sectors are rapidly implementing digital transformation across their enterprises.

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Catalog management systems are profitable for catalog management software vendors during COVID because such software and solutions assist organisations in categorising and consolidating product or service data into a single digital point of location for organisations and their end customers, i.e. buyers. For businesses, the systems management and preserve product and service information, saving time and reducing human labour.

The COVID-19 pandemic makes it even more critical for corporate executives across the Asia Pacific to accelerate cloud adoption and digital transformation, opening up the huge market potential for catalog management system manufacturers. The present epidemic, on the other hand, has driven the retail sector in the Asia Pacific to pivot toward digital innovation and eCommerce, creating massive market prospects for catalog management system manufacturers.

The main reason for the slow adoption of catalog management solutions is concerns regarding data security. Users are hesitant to use these solutions because they are afraid of losing their critical master and reference data owing to data mistakes that occur during compilation or upgrade. Users believe that their data privacy is in danger, that there will be no responsibility for data losses or thefts, and that no mitigation will be offered.

Furthermore, people are concerned about the security of their data. As a result, businesses choose providers that can adjust their existing systems in order to manage product information and compete.

The Asia Pacific has seen rapid and advanced adoption of new technologies, and it is expected to grow at the fastest rate throughout the projection period. Furthermore, IT investment in the region is constantly expanding, which is expected to result in an increase in the use of catalog management software solutions.

In terms of catalog management software solutions and services, China, India, Japan, Australia and New Zealand (ANZ) are the dominant countries in the area. While spending on IT solutions has surged in the Asia Pacific, the recent COVID-19 epidemic has caused a setback.

Key Takeaways: 

• The solutions from the catalog management systems market are expected to grow at the fastest CAGR of 7.5% in the component sector.
• Cloud is expected to grow at a high rate in the deployment type sector of the catalog management systems market, with a CAGR of 7.2%.
• The market size for catalog management systems in the United States is expected to reach US$ 1.1 Billion by 2032, growing at a CAGR of 7.9% during the research period.
• UK is expected to reach a market size of US$ 136.8 Million in the catalog management systems market by 2032, with a CAGR of 7.5% during the research period.
• China’s catalog management systems market is expected to be worth US$ 200.8 Million by 2032, with a CAGR of 7.8% over the forecast period.
• Japan is expected to have a market size for catalog management systems of US$ 172 Million by 2032, with a CAGR of 7.4% during the research period.
• By 2032, South Korea is expected to reach a market size of US$ 117.7 Million in the catalog management systems market, with a CAGR of 7.4% during the research period.

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Competitive Landscape: 

To expand their offers in the market, catalog management system suppliers have employed a variety of organic and inorganic development tactics, such as new product releases, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions. IBM, Google, Microsoft, Oracle, and SA are some of the leading suppliers that provide catalog management system solutions and services throughout the world.

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Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. Rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term.

According to a latest report by FMI, the global thionyl chloride market is expected to reach a valuation of US$ 688 Mn by 2030.

However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market.

Further, China – the epicenter of the pandemic – is characterized by a strong foothold of thionyl chloride manufacturers. The government has enacted large-scale lockdowns, resulting in short-term manufacturing and logistics paralysis.

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“Thionyl chloride plays a vital role in manufacturing pharmaceuticals products. The compound is an industrially-produced liquid used to make acyl chlorides and synthesize pharmaceuticals, including drugs and vitamins. Growth of the pharmaceutical industry has a significant impact on the thionyl chloride market.”

Key Takeaways of Thionyl Chloride Market Study

• Consumption of thionyl chloride would remain prominent in manufacturing pharmaceuticals. Thionyl chloride is used in the production of a wide range of pharmaceutical products, including isocarbophos, indomethacin, vitamin A, sumicidin, propargite, and tetramisole hydrochloride. Further, manufacturers are targeting the agrochemical industry for relevant returns.
• Europe holds a prominent share in global thionyl chloride market; East Asia would reflect worthwhile prospects, owing to the presence of key agrarian countries and subsequent advancements in the pharmaceutical industry.
• Thionyl chloride is also used in the production of lithium thionyl chloride batteries. The adoption of lithium thionyl batteries is increasing, given its benefits such as high voltage, high safety, wide temperature range, low currents, passivation of battery, and its bobbin-like structure.

Market Landscape: Fairly Consolidated

The global thionyl chloride market is fairly consolidated, owing to a limited number of players operating in the market. The top nine players account for around half of the total market revenue. Manufacturers are focusing on strengthening their partnerships with end users and government entities. The market is dominated by Chinese players.

Key players such as Lanxess AG, Transpek Industries Ltd., CABB Group, Sigma Aldrich Co. LLC, Shandong Kaisheng New Materials Co. Ltd., Angene International Limited, Jiangxi Selon Industrial Co. Ltd., ChemTik, Aurora Fine Chemicals LLC, and others are focusing on marking their direct presence in local markets.

What Does the Future Hold?

The global thionyl chloride market is expected to grow at a moderate pace over the forecast period on account of increasing application in pharmaceuticals and agrochemicals industries in developing regions. Moreover, increasing use of thionyl chloride in the production of batteries is expected to fuel the growth of the market.

Preference for thionyl chloride over other reagents is further anticipated to bolster the market in the foreseeable future. Production of thionyl chloride is preferred by the sulfur trioxide route, and the trend is projected to continue during the forecast period.

THIONYL CHLORIDE MARKET TAXONOMY

By Grade, the market of Thionyl Chloride is segmented as:

• Technical Grade
• Pharmaceutical Grade

By Application, the Thionyl Chloride Market is segmented as:

• Agrochemicals
• Pharmaceuticals
• Dyes & Pigments
• Organic Synthesis
• Batteries
• Others

By Production Process, the Thionyl Chloride Market is segmented as:

• Sulfur trioxide Route
• Sulfur dioxide Route
• Other Routes

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Future Market Insights has published a market research report on the thionyl chloride market that contains global industry analysis of 2015-2019 and opportunity assessment for 2020-2020. The report provides insightful analysis of the thionyl chloride market through four different segments – grade, application, production process, and region.

The thionyl chloride market report also provides the demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, and a detailed overview of the parent market.

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Global chlorine disinfectant market revenues are poised to reach at US$ 4.2 Bn by the end of forecast period, 2022 – 2030. Heightening concerns regarding the novel coronavirus (COVID-19) pandemic are triggering the need to maintain hygiene in healthcare and residential facilities. In line with this, global sales of chlorine disinfectant are set to soar promisingly in near term, as projected by a new Future Market Insights (FMI) study.

The survival period of SARS-COV-2 – virus that causes COVID-19 – on inanimate objects differ with various factors including, temperature, and humidity. This accents for the need of frequent cleaning and disinfection of surfaces, thereby, enabling broader usage of chlorine disinfectants.

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Key Takeaways of Chlorine Disinfectant Market Study

• Increasing emphasis on cleanliness in hospitals is boosting the demand for chlorine disinfectants in hospital applications. Infections are a significant threat in hospitals and chlorine-based cleansers disinfect work surfaces and equipment, thereby, preventing the spread of contagious diseases.
• Chlorine disinfectants are gaining significant traction in industrial wastewater treatment applications. Chlorine can be used in wastewater disinfection either as an elemental chlorine (gas) or as a chlorinated compound such as liquid sodium hypochlorite solution or solid calcium hypochlorite. Chlorine disinfectants play a vital role in the industrial wastewater treatment process.
• Textile bleaching is anticipated to emerge as a significant application of chlorine disinfectants during the forecast period, owing to their superior bleaching property such as liquid chlorine bleaches are highly effective at whitening fabrics and also provide germicidal activity at usage concentrations.
• The chlorine disinfectant market in South Asia including, India, and ASEAN countries is witnessing notable growth recently, attributable to growth of end-use industries such as healthcare, and water treatment in this region.

Governments in several regions are highly focused on improving municipal water facilities in urban and rural areas. Such developments for industrial and domestic/ municipal water treatment are expected to create high demand for water & wastewater treatment chemicals such as chlorine disinfectants over the forecast period.

Chlorine Disinfectant Market by Category

By Form:

• Solid/Granular
• Liquid
• Gas

By Application:

• Drinking Water
• Swimming Pool Water
• Industrial Wastewater
• Textile Bleaching
• Hospital
• Others

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Market Landscape: Moderately Fragmented

The global chlorine disinfectant market is moderately fragmented, owing to presence of several international and domestic payers in the market. Top ten established players account for over a third of total supply.

Key players such as 3M Company, Procter and Gamble, Reckitt Benckiser, Clorox Company, Ecolab, Hind Pharma, Chemtex Speciality Ltd, Nyco Products Company, Delux Chemicals, Achlor Chemical Ltd. and others are also focusing on increasing their presence in domestic market. Leading manufacturers are laying emphasis on strengthening their partnerships with end users.

What Does the Future Hold?

The global Chlorine Disinfectant market is anticipated to grow at a moderate rate over the forecast period on account of its increasing demand in water treatment industry in emerging countries. Furthermore, increasing awareness regarding the cleanliness especially in hospitals where Infections are a significant threat in both developed and emerging countries is further expected to propel market growth.

Learn More About the Report Coverage

Future Market Insights has published a market research report on the Chlorine Disinfectant market that contains global industry analysis of 2015-2021 and opportunity assessment for 2022-2030. The report provides insightful analysis of the Chlorine Disinfectant market through four different segments- grade, application, end-use, and region.

The Chlorine Disinfectant market report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, along with a detailed overview of the parent 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 global sulfur hexafluoride market is poised for promising growth at a projected CAGR of approximately 5.8% during the course of forecast period (2019-2029). Favourable chemical properties and variegated end-use applications particularly electronic devices continue to supplement the growth of sulfur hexafluoride market.

Key Takeaways of Sulfur Hexafluoride Market Study

• Role of sulfur hexafluoride in developing electronic circuits is the growth engine of the market.
• Chemical inertness, non-toxicity, high density, and high dielectric strength are highly sought-after attributes of sulfur hexafluoride.
• Electronic grade sulfur hexafluoride contributes substantially to the overall demand.
• Asia Pacific carves out approximately 45.8% revenue share in the global sulfur hexafluoride market.
• Europe will exhibit relatively sluggish market growth owing to stringent government regulations.

Key players must adopt multipronged strategies such as joint ventures and product development for competitive leadership. These strategies are fundamental to fortifying their foothold in the global sulfur hexafluoride market.

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Asia Pacific Accounts for 45.8% Share in Sulfur Hexafluoride Market

On account of enormous regional population, power and energy demand is soaring in Asia Pacific. Being a leading end-use application of sulfur hexafluoride, power & energy generation industry is supporting the growth of regional market. Hence, Asia Pacific sulfur hexafluoride market garnered approximately 45.8% market share in 2018.

The sulfur hexafluoride market is Europe will relatively be slow during the forecast period owing to environmental implications associated with the product. Moreover, stricter norms set down by governing bodies are limiting the sulfur hexafluoride market growth in the region. However, improved sustainable practices in certain domestic markets such as the United States will contribute to steady market growth in the country.

Sustainable Practices Remain Key Agenda of Industry Leaders

Some of the key players featured in this FMI study include, but are not limited to, Advanced Specialty Gases, Air Liquide, Electronic Fluorocarbons, LLC, Axcel Gases, American Gas Products, Solvay S.A., Praxair Technology, Inc., Honeywell International, Fujian Shaowu Yongfei Chemical Co. Ltd., Air Products and Chemicals, Inc., Chengdu Kemeite, Concorde Specialty Gases Inc., and Liming Research Institute.

The global sulfur hexafluoride market is fragmented in nature.  Reusing sulfur hexafluoride and incorporating latest technology is the key forte of market leaders. For instance, Solvay reclaims and reuses sulfur hexafluoride gas worldwide to comply with stringent environmental norms. Other players opt for collaborations to strengthen their market presence.

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Sulfur Hexafluoride Market: Segmentation

The global sulfur hexafluoride market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

By Grade

• Technical
• Electronic

By Application

• Electrical Transmission and Distribution
• Semiconductor Manufacturing

By Region

• North America
• Latin America
• Europe
• MEA
• Asia Pacific

More about the Report

FMI’s study offers an in-depth market forecast and analysis on the global sulfur hexafluoride market. The major categories encompassed by the report include grade (technical, electronic), application (electrical transmission and distribution, semiconductor manufacturing) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).

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) recently published a detailed business intelligence study on global demand for and application of feldspar in various industries. The study reveals that the global feldspar market size reached around US$ 1.3 Bn in 2018.

Robust advancement in construction and development of both commercial and residential sectors are triggering the sales of feldspar, which is widely used in making ceramic tiles. However, recycling of glass and ceramic, mining costs, and volatile logistics are some of the foremost restrains which are expected to hinder the growth of the feldspar market.

Key Takeaways – Feldspar Market Study

• The global feldspar market is projected to grow at a CAGR of 5.5% over the forecast period (2019-2029).
• Europe’s feldspar market accounts for 59% of the global market value, owing to emergence of Germany as one of the top producers of feldspar.
• Feldspar market in Germany was valued to be US$ 12 Mn in 2018, due to increasing demand for glass and ceramics in global automotive, construction and electronics industries.
• High growth opportunities are expected in APEJ, owing to rapid expansion of construction industry and increased government investments in infrastructural projects.
• Stringent environmental regulations on mining of feldspar are expected to hinder the market growth.

An increase in the demand for real estate and revival of the U.S. economy exert the demand for feldspar on the ceramics industry, which will further expand North America’s feldspar market.

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Potassium Feldspar to Hold Relatively Large Share

The FMI study finds that potassium feldspar account for higher share than its plagioclase counterpart. Strong global focus on harnessing solar energy is significantly contributing to demand for K-feldspar, which is commonly used in solar glass to produce solar cells.

In addition, increasing utilization of post-consumer glass collected via neighborhood and local government recycling programs will continue to intensify competition for raw materials such as feldspar in the manufacturing of glass containers. However, it is imperative to note that the presence of substitutes such as nepheline syenite is projected to negatively impact the demand for feldspar.

Feldspar Market: Segmentation

The global feldspar market is segmented in detail to cover all aspects of the market and provide a detailed market research insights to readers.

By Product

• K-Feldspar
• Plagioclase Feldspar

By Application

• Glass
• Ceramic
• Construction
• Decorative
• Electrical

By Region

• North America
• Europe
• APAC
• Central & South America
• MEA

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Feldspar Market Remains Highly Consolidated

The global feldspar market is highly consolidate, making it difficult for new companies to enter the marketplace. Some of the major companies dominating the market are Quarzwerke GmbH, I-Minerals Inc., Feldspar Corp., Quartz Corp., Adolf Gottfried Tonwerke GmbH, Imerys S.A., EczacibasiEsan, Granite Rock Company, LB Minerals, SCR-Sibelco NV, U.S. Silica Company, SP Minerals, Pacer Corporation, and Sunminerals.

To stay ahead of pack, manufacturers are targeted towards stronger foothold on the global market along with competitive pricing strategy. These factors played an important role in Quartz Corp’s decision to increase the price of feldspar by 5% to 10%, effective from 1^st January 2020. Such strategic move is likely to influence other manufacturers and suppliers to bring high quality products to the market at affordable prices.

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Global polycarbonate sheets market is set for propitious growth, invigorated by promising demand from automotive and building & construction industries. Witnessing a projected CAGR of 4.3% over 2019-2029, this billion-dollar industry will receive noteworthy momentum from Asia Pacific market. Expediting infrastructural activities in developing countries continue to create lucrative white spaces for manufacturers of polycarbonate sheets.

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Key Takeaways of Polycarbonate Sheets Market Study

• Crucial attributes such as high impact resistance, thermal insulation, and dimensional stability are boosting the demand for polycarbonate sheets.
• Polycarbonate sheets are set to become a preferred alternative for acrylic and glass because of low maintenance cost and degradation over time.
• Low carbon emission is prompting manufacturers to accelerate the adoption of polycarbonate sheets.
• Role of polycarbonate sheets in manufacturing sturdy, lightweight and eco-friendly automotive components will steer the demand through 2029.
• Increasing usage of polycarbonate sheets in commercial and residential spaces for cladding and roofing applications will exhibit promising growth through the forecast period.
• Gains in polycarbonate sheets market will remain concentrated in Asia Pacific through 2029.
• Fluctuation in raw material prices will hinder the growth of polycarbonate sheets market during projection period.

Globally leading manufacturers of polycarbonate sheets must plan massive investments in strengthening their supply chain across Asia Pacific to capitalize on surging demand.

Asia Pacific Garners over 43% Share in Global Market

Consumers in Asia Pacific (APAC) would be the key demographic for polycarbonate sheet manufacturers. Increasing net worth income of consumers in emerging Asian economies is capturing the attention of global market leaders.

APAC continues to account for more than 43% of the total market value. Moreover, rapid industrialization is accentuating the demand for polycarbonate sheets. Strong government impetus and supporting policies are facilitating the growth of polycarbonate sheets market in this region.

In view of maturing end-use industries such as automotive and construction, polycarbonate sheets market in Europe and North America is relatively saturated. However, the packaging industry in these two regions will offer new growth opportunities on account of heightened demand from nuclear families.

Industry Leaders to Unlock Profitable Avenues through Product Innovation

Major players profiled in this study, include but are not limited to, Trinseo, Spartech, Mitsubishi Gas Chemical, Evonik Industries, SABIC, Arla Plast, 3A Composites, Covestro, Excelite, Gallina India, and Palram Industries.

Leading players continue to diversify their product portfolio, especially in Asia Pacific. In view of enormous population, wide range of application-specific polycarbonate sheets will cater to variegated end-use segments.

For instance, Covestro launched new polycarbonate thermoplastics under the series ‘Makrolon’ which cater to various applications such as LED lighting, architectural glazing, eyewear, electronics, sporting equipment, automotive headlamps, and medical devices. Moreover, global players must collaborate with regional manufacturers to expand their market foothold.

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Market Segmentation

The global polycarbonate sheets market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

Type:

• Solid
• Multiwall
• Corrugated

End-Use:

• Building & Construction
• Automotive
• Electrical & Electronics

More About the Report

FMI’s study offers an in-depth market forecast and analysis on the polycarbonate sheets market. The major categories encompassed by the report include end-use (electrical & electronics, automotive, building & construction), type (solid, multiwall, corrugated) across five regions (Europe, Middle East & Africa, Asia Pacific, North America, Latin America).

About FMI

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The global nitric acid market is set to witness a significant CAGR of 2.3% and is anticipated to reach a valuation of around USD 37.63 billion by 2032, up from 29.3 billion in 2021.

Demand for nitric acid is increasing, as it is a component of many fertilizers. Fertilizers are used to boost agricultural output in order to meet the rising food demand from the growing population. Nitric acid demand from fertilizer producers is expected to increase, as is fertilizer usage in agrarian economies around the world.

The existence of international firms, which are constantly coming out with new products to gain a larger nitric acid market share, makes the global nitric acid market extremely competitive.

The government’s environmental regulations and efforts to reduce industrial waste are what are preventing the nitric acid market from expanding. The market was constrained by these nitric acid market trends, due to rising concerns over CO2 emissions from automobiles.

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However, it is projected that the growing usage of plastic in the medical industry would lead to a gradual stabilization of nitric acid market share. The growing need for PPE kits, which has increased plastics manufacturing, is driving the growth of the nitric acid market.

North America is anticipated to hold the largest global market share for nitric acid, which may be ascribed to the region’s consumers’ high disposable income and robust economic growth. Most of the demand for nitric acid comes from Eastern Europe, a region with significant growth potential.

Key Takeaways from Market Study

• The nitric acid market is expected to have a CAGR of 2.3% during the forecast period.
• The market is segmented based on application, wherein the fertilizer segment is anticipated to account for a significant global nitric acid market share of 80.07% in 2021.
• The European nitric acid market is anticipated to grow at the fastest rate, with a share of around 65.5% in 2021.
• North America is likely to dominate the nitric acid market during the forecast period.
• Asia Pacific is expected to witness a lucrative growth rate in the nitric acid market during the forecast period.
• Demand for nitric acid is high, since it is a component of many fertilizers, and discretionary income among consumers is rising.

Competitive Landscape

Businesses all across the world are focusing on process innovation and capacity development. Key market players claim that building large plants and increasing commercial output would improve the availability of nitric acid.

Some of the major key players in the nitric acid market are BASF SE, Dupont, Nutrien Ltd., Omnia Holding Limited, Apache Nitrogen Products Inc., CF Industry Holdings, Inc, Thyssenkrupp AG, Yara International ASA, Rashtriya Chemical & Fertilizers Ltd.

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Key Players

• BASF SE
• Dupont
• Nutrien Ltd.
• Omnia Holding Limited
• Apache Nitrogen Products Inc.
• CF Industry Holdings, Inc
• Thyssenkrupp AG
• Yara International ASA
• Rashtriya Chemical & Fertilizers Ltd.

Key segments

By Application:

• Fertilizers
• Nitrobenzene
• Adipic acid
• Toluene diisocyanate (TDI)
• Nitrochlorobenzene
• Others

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Recent Developments: Product Launches and Collaboration

With a new long-term nitric acid supply contract signed in October 2020, LSB Industries, Inc. will supply 70 KT to 100 KT of nitric acid annually to a customer. This is an endeavor to improve profitability through targeted marketing and a different product mix.

• At the Indian nitric acid complex, Deepak Fertilizers and Petrochemicals began commercial production in April 2019. Around 149 KT of diluted nitric acid and 92 KT of concentrated nitric acid are annually produced by the new factory.

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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 favour 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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Rising demand for eco-friendly and advanced coatings coupled with growing building and construction activities makes elastomeric coatings a popular and innovative choice in the market. Through constant research & development, elastomeric coatings are finding applications in different areas. The growing construction industry is expected to catalyze the growth of the elastomeric coatings market.

Further, superior property of the product – water resistance – efficiently protects the intrusion of moisture into the walls, in the construction industry. The global elastomeric coatings market was valued at US$ 5.2 Bn at the end of 2021, and is expected to witness lucrative growth at a CAGR of 7.6% during the forecast period of 2022-2029.

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Key Takeaways of Elastomeric Coatings Market Study

• By type, silicone is expected to be most popular choice of elastomeric coatings, owing to the increasing consumption of silicone-based elastomeric coatings for roof protection against bad weather, standing water, and sun damage.
• In terms of application, the building and construction industry is expected to be a prominent consumer of elastomeric coatings. This is driven by the increasing construction of commercial, domestic, and industrial buildings across geographies. Furthermore, it is expected that, the application of elastomeric coatings on roofs will be prominent throughout the forecast period.
• The elastomeric coatings market is anticipated to grow at a decent rate in developing economies, especially in China, India, ASEAN countries, etc., as favorable market conditions and a large consumer base are fueling the demand for elastomeric coatings.
• Advanced coating technologies have gained tremendous attraction for waterproofing purposes in several industries such as building & construction, automotive & transportation, chemicals, oil & gas, energy & power, etc. Therefore, the shifting trend towards the adoption of advanced coating technologies is expected to drive the growth of the elastomeric coatings market.

 “Elastomeric coatings hold more advantages over other coating systems, owing to lower VOC emissions and recyclability, which makes them a preferred choice because of their eco-friendly properties. Attributed to this factor, the demand for elastomeric coatings is anticipated to grow at a significant rate over the forecast period.”

Elastomeric Coatings Market: Competition Analysis

The global elastomeric coatings market is a consolidated market space, due to the presence of less number of market players around the world. Some of the key players identified across the value chain of the global elastomeric coatings market are BASF SE, Rhino Linings Corporation, PPG Industries, Inc., Teknos Group, Huntsman Corporation, Covestro AG, Sherwin-Williams Company, Pidilite Industries Ltd., Versaflex Incorporated, and DowDuPont Inc.,  among others.

Most of the key players maintain strategic focus on the development of distribution partnerships and joint ventures for global expansion. Manufacturers are focusing on manufacturing sustainable products to cater to the increasing demand for such products for various applications.

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Elastomeric Coatings Market By Category

By Types :

• Acrylic
• Polyurethane
• Epoxy
• Silicone
• Polyurea
• Others

By Application :

• Building & Construction
  • Roof
  • Wall
  • Floor
  • Bridges
  • Others
• Industrial
• Automotive & Transportation
• Others

How will the market shape up?

Overall growth prospects of economies are expected to remain positive in the coming years. Owing to rapidly growing industrialization and urbanization, end-use industries such as construction are growing at a significant growth rate, which, in turn, is boosting elastomeric coatings market growth.

The building and construction segment is estimated to maintain its prominence over the forecast period, whereas, the usage of elastomeric coatings in industrial applications is projected to gain high traction at a steady peace.

What does the report offers?

The latest publication by Future Market Insights provides comprehensive analysis of the global elastomeric coatings market. This market study provides detailed insights on the elastomeric coatings market through well-structured market research.

The global elastomeric coatings market study offers inclusive market analysis of historical performance of 2014-2021 and opportunity assessment for the forecast period of 2022-2029. The market study provides prevalent insights on various aspects of the elastomeric coatings market based on type and application across the targeted seven regions.

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
Jumeirah Bay 2
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For Sales Enquiries: sales@futuremarketinsights.com