Market Research Blog

The surface disinfectant chemicals market is poised for significant growth, with its valuation anticipated to increase from USD 3.9 billion in 2023 to USD 5.8 billion by 2033. This expansion represents a notable compound annual growth rate (CAGR) of 4.1% throughout the forecast period. The rising awareness regarding hygiene and cleanliness, particularly in healthcare facilities, commercial spaces, and households, is a primary driver for this market’s growth. Additionally, the increased prevalence of infectious diseases and stringent regulations related to sanitation are further fueling the demand for surface disinfectant chemicals. As a result, the market is expected to experience sustained growth, driven by the continuous need for effective disinfection solutions across various sectors.

Leading manufacturers of surface disinfectant chemicals have a tonne of opportunities due to the advent of cutting-edge disinfection solutions and expanding economies. Due to the rising risk of disinfectants to humans, numerous start-ups in the surface disinfectant chemicals industry globally have created a variety of alternatives to traditional chemical-based decontaminants.

Rising healthcare costs and heightened consumer hygiene consciousness are the two main market drivers. In addition, the market is growing as more infectious diseases like hepatitis, HIV, and other hospital-acquired illnesses are becoming more common.

As individuals become more aware of the various illnesses connected to healthcare, it is projected that the demand for surface disinfectant chemicals would increase. The market is also anticipated to grow in the upcoming years, as a result of altering lifestyles and a rise in surgical procedures.

Manufacturers have historically been most worried about issues like government restrictions on the use of synthetic chemicals and a movement in consumer preference toward environmentally friendly products.

However, the market is being expanded overall due to the continually expanding demand from different industries and the implementation of stringent safety and hygiene standards. The demand for surface disinfection chemicals is largely driven by end users in the commercial and institutional sectors.

Driving Forces Behind the Surface Disinfectant Chemicals Market Boom

The surface disinfectant chemicals market is experiencing a remarkable surge, driven by a confluence of factors that highlight the growing importance of hygiene and safety across various sectors. Here are some of the key growth drivers propelling this market forward:

1. Increased Awareness of Hygiene Practices

The COVID-19 pandemic has significantly raised awareness regarding the importance of maintaining high hygiene standards. Consumers and businesses alike are now more conscious of the need for effective surface disinfection to prevent the spread of pathogens. This heightened awareness is expected to persist, driving demand for disinfectant chemicals in both residential and commercial settings.

2. Regulatory Support and Standards

Governments worldwide are implementing stricter regulations and guidelines related to sanitation and hygiene, particularly in industries such as healthcare, food processing, and hospitality. Compliance with these regulations necessitates the use of effective surface disinfectants, further boosting market growth.

3. Expansion of the Healthcare Sector

The rapid expansion of the healthcare sector, particularly in developing regions, is a significant driver for the surface disinfectant chemicals market. Hospitals, clinics, and laboratories require robust disinfection protocols to ensure patient safety and maintain sterile environments, leading to increased consumption of disinfectant products.

4. Growing Demand in the Food and Beverage Industry

The food and beverage industry is increasingly adopting stringent hygiene practices to ensure food safety. The need for effective surface disinfection in food processing plants, restaurants, and commercial kitchens is driving the demand for specialized disinfectant chemicals designed to meet industry standards.

5. Rise in E-commerce and Online Shopping

The growth of e-commerce has led to increased demand for surface disinfectants in warehouses and distribution centers. As online shopping becomes more prevalent, companies are prioritizing cleanliness and safety in their operations, which in turn boosts the need for effective disinfectant solutions.

Key Takeaways

• The UK surface disinfectant chemicals market is anticipated to expand at a CAGR of 3.4% over the anticipated time frame. By 2033, it is anticipated that the industry in the UK is likely to surpass US$ 166.6 billion.
• The surface disinfectant chemicals market increased at a 4.6% CAGR between 2017 and 2022, citing FMI’s study.
• The surface disinfectant chemicals market in the US is anticipated to expand at an adequate CAGR of 3.8%. By 2033, it is expected that the US market would have contributed more than US$ 1.0 billion in revenue.
• Japan’s surface disinfectant chemicals market sector is estimated to exceed US$ 320 million by 2033.
• Between 2023 and 2033, the surface disinfectant chemicals market is likely to increase in South Korea at 4.6% CAGR, respectively.
• Quaternary ammonium compounds dominate the surface disinfectant chemicals market, with a CAGR of 4.1% by 2033.
• Based on end user, commercial and institutional segments dominate the surface disinfectant chemicals market, with the CAGR of 4.2% by 2033.

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Top Key Players in the Surface Disinfectant Chemicals Market

• Evonik Industries AG
• LANXESS AG
• Solvay S.A.
• BASF SE
• Lonza Group AG
• Dow Inc.
• Arkema SA
• Mitsubishi Gas Chemical Company, Inc.
• Hodogaya Chemical Co., Ltd.
• Olin Corporation
• Hansol Chemical Co., Ltd.
• Dishman Carbogen Amics Ltd.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Key Takeaways:

• The global market is estimated to secure a CAGR of 5.5% with a valuation of USD 290.6 billion by 2033.
• In the historical period, the global market secured a CAGR of 4.2% between 2018 and 2022.
• The United States is anticipated to dominate the global market by capturing a maximum share of 13.2% by 2033.
• With a share of 15.6%, Germany is significantly driving the global market during the forecast period.

Opportunities in the Textile Staples Market

The global market has various marketing opportunities, including:

• Sustainable and Eco-friendly Textiles: With increasing awareness of environmental concerns, there is a growing demand for sustainable and eco-friendly textile products. Companies that use organic fibers, recycled materials, and environmentally responsible manufacturing processes have a competitive advantage.
• Smart Textiles: Integrating technology into textiles has opened up new opportunities. Smart textiles, also known as e-textiles, are fabrics that incorporate electronic components like sensors and actuators. These textiles find applications in sports, healthcare, fashion, and even military sectors.
• Functional Textiles: Textiles with specialized functionalities such as moisture-wicking, antimicrobial properties, UV protection, and flame resistance are gaining popularity. There’s a constant need for research and development in this area to create innovative textiles that cater to specific customer needs.
• Digital Printing: Traditional textile printing methods are replaced by digital printing technologies that offer greater design flexibility, faster turnaround times, and reduced waste. Companies investing in digital printing can seize opportunities in the evolving textile market.
• Customization and Personalization: Consumers today seek personalized products. Textile businesses offering customizable options can attract a loyal customer base, whether through design, size, or color.
• Textile Recycling and Upcycling: The textile industry generates significant waste. Opportunities lie in recycling and upcycling old textiles into new products, reducing the environmental impact, and catering to the circular economy.
• Innovative Apparel Design: Fashion trends constantly change, and consumers look for unique and innovative designs. Companies that can stay ahead of the curve and deliver creative and appealing apparel designs have a chance to succeed.
• Emerging Markets: As economies develop in various regions, there are opportunities for textile businesses to expand into emerging markets and cater to the rising middle-class population.
• Automation and Industry 4.0: Automation and intelligent manufacturing technologies can enhance efficiency and productivity in textile manufacturing. Companies that invest in these technologies can gain a competitive edge.
• Collaborations and Partnerships: Collaboration between textile manufacturers, fashion designers, technology firms, or other industries can lead to groundbreaking innovations and market success.

Top Key Players in the Global Textile Staples Market

• E.I. Du Pont de Nemours and Company
• Lenzing AG
• International Fibers Group
• Invista
• Thai Acrylic Fiber Co. Ltd. (Aditya Birla Group)
• Toray Group
• Chori Co., Ltd.
• W. Barnet GmbH & Co. KG
• Cellulose Cotton Wool Corporation of India
• Teijin Frontier Co., Ltd.
• Belgian Fibers SA
• Grasim Industries Limited

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Textile Staples Market by Segmentation

By Fiber Type:

• Natural Fiber
• Synthetic Fiber

By Application:

• Apparel
• Interior Flooring
• Medical
• Upholstery
• Automotive
• Construction
• Filtration

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The wood preservative coatings market is poised for growth, with an anticipated CAGR of 4.9% through 2027. This expansion is largely attributed to a rebound in the residential and construction sectors, which is expected to enhance demand for key applications where wood preservatives and coatings are utilized. Significant areas of application include furniture, decking, and siding, all of which are set to benefit from increased market activity and investment in these industries.

The high solid technology involves less solvent use and more solids, which is currently a prominent trend in the North American wood coatings market. Also, the low odor and high durable coatings are more preferred by the consumers in North American wood preservative coatings market.

The trend of usage of water-borne coatings is significant in the North America wood preservative coatings markets. The increasing awareness among consumers about the usage of eco-friendly coating products is prevailing.  Also, the UV wood coatings are being used for industrial applications owing to its fast curing and high production efficiency.

Global Wood Preservative Coatings Market: Segmental Forecast

Preservative coating type segment is further divided into the categories of water repellant, fire retardant and insect repellant, is expected to project a CAGR of 5.4% in terms of volume. In terms of value, fire retardant coating type segment is expected to project a CAGR of 6.0% during the forecast period. Stains, varnishes and shellacs, together account for 56% of the market share in coating type segment by 2017 end. Whereas, furniture segment is expected to decrease by 40 basis points in 2027 from 2017 to account for USD 1,612.4 Million by 2027 end.

The preservative coatings for the wood products are essential for increasing its life span. Among various preservatives, insect repellant is estimated to hold major share both in terms of value and volume owing to its inherent advantages of protection from decay. The borates, azoles, pentachlorophenol etc. type of insect preservatives dominate among others.

The fire retardant are the chemicals which are impregnated by pressure process to reduce the flame spread and smoke development, in order to improve the wood safety. The fire retardants in terms of value, is expected to expand at 6.0% CAGR during the forecast period.

The market for stains, varnishes type wood coatings is quite fragmented with the presence of domestic players. The demand for protective as well as decorative purpose influences the stains and coatings type wood coatings. Also, the sales of these coatings are majorly dependent on construction type. In terms of volume, the varnishes segment of the coating type is expected to expand at 5.4% CAGR during the forecast period.

Growth Opportunities in the Wood Preservative Coatings Market

The wood preservative coatings market is poised for significant growth driven by various factors including increasing urbanization, rising demand for aesthetically pleasing and durable wood products, and advancements in coating technologies. Here are some key growth opportunities in this sector:

1. Rising Urbanization and Construction Activities

The global construction industry is booming, with urban areas expanding rapidly. This growth fuels demand for wood in residential and commercial construction, including flooring, siding, and structural elements. As urbanization accelerates, the need for effective wood preservation to ensure longevity and performance will increase, creating substantial market opportunities for innovative coatings.

2. Sustainable and Eco-Friendly Products

Consumers and businesses are increasingly prioritizing sustainability. Wood preservative coatings that are eco-friendly and contain low levels of volatile organic compounds (VOCs) are in high demand. Products derived from natural sources or those with minimal environmental impact are gaining traction, offering manufacturers an opportunity to cater to a growing segment of environmentally conscious consumers.

3. Technological Advancements

Advancements in coating technologies, such as nanotechnology and advanced polymer systems, are enhancing the effectiveness and durability of wood preservatives. These innovations provide better protection against environmental factors like moisture, UV radiation, and pests. Companies investing in R&D to develop these cutting-edge products are likely to gain a competitive edge in the market.

4. Growing Awareness of Wood Maintenance

There is an increasing awareness about the importance of proper wood maintenance among homeowners and businesses. Educational campaigns and improved access to information about wood care can drive demand for preservative coatings. Products that offer easy application, long-lasting protection, and aesthetic benefits are well-positioned to capitalize on this trend.

5. Expansion into Emerging Markets

Emerging economies, particularly in Asia-Pacific, Latin America, and Africa, are experiencing rapid growth in construction and infrastructure projects. As these markets develop, the demand for wood and associated preservative coatings is expected to rise. Companies that can adapt their products to meet the specific needs of these regions, including climate and cultural preferences, will find significant growth opportunities.

6. Increasing Demand for High-Performance Coatings

There is a growing trend towards high-performance coatings that offer superior protection against harsh weather conditions, pests, and fire. This demand is driven by both commercial and residential sectors looking for enhanced durability and reduced maintenance costs. Companies focusing on high-performance, multi-functional coatings are likely to see substantial market growth.

Key Players

Key competitors covered are Akzo Nobel N.V., BASF SE, The Dow Chemical Company, The Sherwin-Williams Company, PPG Industries, Inc, Valspar Corporation, Industrias Quimicas Kupsa S.L., RPM International Inc., Lonza Group Ltd, KMG Chemicals, Inc.

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Market Segmentation

The global wood preservative coatings market is segmented into seven key regions:

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

System type of wood preservative coatings

• Solvent borne
• Water borne

Applications of wood preservative coatings

• Preservative
• Stains
• Varnishes
• Shellacs
• Others (Oil, Wax, etc.)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

 

The global metal and metal oxide nanoparticle market size is anticipated to be valued at USD 36335.4 million in 2024 and further increase at a CAGR of 11.7% during the forecast period. Worldwide sales of metal and metal oxide nanoparticles are set to total USD 109865.7 million by 2034.

Nanoparticles are increasingly being utilized in various industries, including electric vehicles (EVs), chemical processes, aerospace, biomedical systems, and environmental remediation. These are being used in targeted drug delivery systems, biocompatible implants, and theranostics, offering the potential for personalized healthcare solutions. The industry is also influenced by environmental responsibility, with manufacturers prioritizing eco-friendly production.

Advancements in materials science are crucial for the industry’s expansion amid research focusing on novel metal and metal oxide nanoparticles with enhanced biocompatibility, customized catalyst functionalities, and improved conductivity. Challenges include assessing potential health and environmental risks, implementing stringent regulations, and ensuring product quality, safety, and consumer trust. Businesses must be flexible and standardize testing and characterization methods to ensure sustainable growth.

Key Takeaways from the Market Report

• The global metal and metal oxide nanoparticle market is set to reach USD 36335.4 million by 2034, with a CAGR of 7% in the forecast period.
• Based on type, the metal nanoparticles segment accounted for a market share of 2% in 2024.
• By end-use, the personal care and cosmetics segment is leading with a market share of 2% in 2024.
• India is anticipated to record a CAGR of 3% between 2024 and 2034.
• Sales in China are predicted to rise at a CAGR of 13% through 2034.

“Nanoparticles are finding applications in the biomedical sector. Manufacturers are collaborating with research institutions to accelerate innovation and develop new materials and applications for nanoparticles,” says a lead analyst at Future Market Insights (FMI).

Who is Winning?

Key players in the metal and metal oxide nanoparticle market, such as American Elements, The USA Research & Nanomaterials Inc., Nanoshel LLC, and Meliorum Technologies Ltd, are investing in research and development to create novel nanoparticles with enhanced properties. They are also focusing on pre-dispersed nanoparticles for easy incorporation into production processes or composites for specific applications.

Manufacturers are collaborating with research institutes to accelerate innovation and create novel materials. They are also engaging in acquisitions and mergers to expand their product portfolios.

They are exploring the potential of nanoparticles in industries like clean energy and food packaging. A few players are also discovering sustainable methods to address environmental concerns. To maintain competitiveness, these players must focus on innovation, strategic partnerships, industry expansion, and sustainable practices.

Industry Updates-

• The Journal of Environmental Chemical Engineering released an article in April 2024 that detailed the usage of zinc oxide nanoparticles as a method of inactivating multidrug-resistant bacteria. These bacteria are becoming more prevalent due to the overuse of antibiotics.
• Tokyo Metropolitan University researchers created a technique in March 2024 to enhance the catalytic activity of gold nanoparticles supported on silica by including single nanosheets of mixed metal oxide.

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Key Segments of Market Report

By Type:

Based on type, the sector is divided into metal nanoparticles and metal oxide nanoparticles.

By End-use:

Metal and metal oxide nanoparticles have applications in chemicals and coatings, pharma and healthcare, transportation, personal care and cosmetics, electrical and electronics, defense, and others.

By Region:

The sector is spread across North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Fluoropolymer films, composed of fluorine and carbon, possess high-performance properties, resistance to chemicals and moisture, non-stick properties, and optical transparency, making them ideal for a wide range of applications. Due to these properties, the sales of fluoropolymer films are currently at their peak, and the global fluoropolymer film market size is estimated to be around USD 2.09 billion in 2024, with sales projected to report a CAGR of 5.9% over the forecast period.

The need for fluoropolymer tapes is widespread in various industries due to their chemical and thermal resistance, low friction coefficient, and high dielectric strength. These tapes find applications in multiple industries, including electrical, electronics, construction, automotive, aerospace, and healthcare. In particular, the healthcare sector is witnessing a surge in the use of fluoropolymer films, fueled by rising healthcare investments and widespread use in these sectors.

The versatility of fluoropolymer films makes them an essential material in various industries, and their increasing demand and adoption are expected to drive the market’s growth. With an anticipated market value of USD 3.7 billion by 2034, the future looks bright for this high-performance material.

The current state of the industry shows that the military sector has a considerable growth in demand for fluoropolymer films. Such trend is anticipated to continue in the near future. Because of their exceptional technical qualities, such as their clarity, UV stability, moisture barrier, chemical inertness, and non-yellowing chemistry, fluoropolymer films are a perfect choice for packaging a variety of defense sector items. In the near future, the demand for fluoropolymer films is anticipated to develop due to such special qualities.

“The need for tapes for commercial construction and pharmaceutical packaging is anticipated to fuel growth in the fluoropolymer film market. These films have good electrical insulating qualities, a low dielectric constant, and resilience to heat and chemicals. On the other hand, negative environmental effects including air and water pollution and land degradation, as well as health and environmental risks like hazardous substances like PFOA, may prevent market expansion,” says an analyst of Future Market Insights.

Key Takeaways from the Fluoropolymer Film Market Report

• The fluoropolymer film industry demands Polytetrafluoroethylene (PTFE) with a revenue share of 34.2% in 2024.
• In 2024, the fluoropolymer film market is estimated to be utilized by the packaging industry at 27.9%.
• The fluoropolymer film industry in Canada is anticipated to see a CAGR of 3.6% from 2024 to 2034.
• The fluoropolymer film sector in Germany is projected to showcase a CAGR of 2.8% through 2034.
• The fluoropolymer film market in India is anticipated to display a CAGR of 8.8% during the forecast period.

Competitive Analysis of the Fluoropolymer Film Sector

The fluoropolymer films industry is extremely concentrated and dominated by a small number of key suppliers. Leading corporations are making significant investments in research and development to produce cutting-edge products for final consumers. To obtain a competitive edge, they concentrate on capacity growth, mergers, and acquisitions. In order to create cutting-edge fluoropolymer compositions and diversify their product offerings, they also fund research.

There is fierce rivalry in the industry when it comes to cost, value, and customer support. As businesses work to provide sustainable fluoropolymer solutions, environmental laws and technological breakthroughs heighten competition. Prominent corporations are adopting calculated risks to fortify their market positions. These risks include investing in sustainable fluoropolymer technology, forming strategic alliances to broaden their product offerings, and conducting research and development to introduce innovative fluoropolymer formulations.

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Recent Development in the Fluoropolymer Film Sector

Based on Datwyler’s FirstLine idea, Datwyler Healthcare announced UltraShield in April 2023. UltraShield is a fluoropolymer film coating technique that improves quality and performance for injectable medicine elastomeric closures.

Leading Fluoropolymer Film Players

• The Chemours Company
• Arkema Group
• Solvay SA
• DAIKIN INDUSTRIES Ltd.
• Asahi Glass Co. Ltd.
• 3M Company
• Saint Gobain S.A.
• Polyflon Technology Ltd.
• Dongyue Group Ltd
• Honeywell International Inc.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The global electric steel coatings market is set to experience robust growth, driven by its increasing application in transformers and motors. In 2021, the market size was approximately USD 271 million and is expected to reach around USD 285 million in 2022. Projections indicate that the market will surpass USD 488.3 million by 2032, achieving a steady CAGR of 5.5% over the forecast period from 2022 to 2032. The expansion of end-use industries, particularly automotive and electricity sectors, is anticipated to propel the demand for electric steel coatings in the coming decade.

Electrical steel coatings are known as pigmented coatings that help in insulating silicon steel sheets of generators and motors. These unique coatings are drastically being utilized throughout the construction of electrical equipment like transformers and motors in order to prevent corrosion, eddy current losses, hysteresis losses, and anomalous losses. Besides this, they also offer excellent surface insulation resistance and thermal stability. Furthermore, the surging population and usage of electric equipment like transformers, generators, and motors are expected to bolster the growth of the global electrical steel coatings market during the forecast period.

Electrical steel coatings are known to be essential solutions for ensuring the efficiency of motors, transformers, and generators. These coatings are generally utilized during the construction of the magnetizable core of these electrical products to insulate the electrical steel sheets for preventing the flow of electricity and reducing eddy currents. Among numerous end-use industries, the automotive and electrical industries are known as the primary users of transformers and motors. As a result, the expansion of these sectors serves as a significant market catalyst for the electrical steel coatings market.

Key Takeaways

• The development of premium quality coatings at a lower cost can offer significant growth opportunities to exclusive coatings manufacturers. The prominent market players particularly those who are involved in the manufacture of electrical steel coatings, can capitalize on the opportunity to supply good quality products at lower costs.
• Leading steel manufacturers are developing their own production facilities for coatings, and the cumulative cost of raw material procurement, R&D, product development, and large-scale production is considered the factors leading toward successful backward integration. Hence, it will create an opportunity for manufacturers all over the world which will eventually grow the electrical steel coatings market.
• Owing to the rising demand for electrical equipment like transformers, generators, and motors across thriving automotive and power sectors will boost the electrical steel coatings market over the next ten years. Different grades of electrical coatings are anticipated to be utilized only with specific kinds of electrical steel. Attributing to the rise in electrical steel usage all over a diverse variety of end-use applications, the electrical steel coatings market will expand at a steady pace over the forecast period.

Competitive Landscape

In order to expand their market size, key manufacturers in the global electrical steel coatings market are concentrating on expanding their reach along with focusing on new product launches activities as well as research and development of organic-based electrical steel coatings

• Axalta Coating Systems Ltd.
• thyssenkrupp AG
• Rembrandtin Lack GmbH Nfg. KG
• POSCO
• Baosteel
• Nippon Steel & Sumitomo Metal Corporation (NSSMC)
• ArcelorMittal SA
• JFE Steel Corporation
• Filtra Catalysts and Chemicals Ltd.
• Polaris Laser Laminations, LLC
• Wuhan Iron & Steel (GROUP) CORP.
• Proto Laminations Inc.
• AK Steel Holding Corporation

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More Insights into the Electrical Steel Coatings Market

According to the analysis done by FMI, the U.S. is anticipated to dominate the global electrical steel coatings market as it is expected to account for around 12.7% of the total market share in 2022. This rapid expansion in the U.S. is attributed to the power infrastructure in the U.S. and the rising need for improving the efficiency of transformers and motors along with the storage presence of leading manufacturers is anticipated to drive the U.S. electrical steel coatings market.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube