Market Research Blog

The global polyethylene terephthalate glycol (PETG) market is poised for steady growth, with projections indicating a compound annual growth rate (CAGR) of 3.3% during the forecast period from 2023 to 2033. As demand for PETG continues to rise across various industries, including packaging, automotive, and electronics, the market is expected to surpass a valuation of USD 3,818.9 million by 2033.

Growing demand for polyethylene terephthalate glycol from food packaging and medical industries is a key factor proving impetus to the global market.

Polyethylene terephthalate glycol (PETG) finds its application across diverse industries. Mainstream consumers of PETG utilize it for packaging purposes owing to its various advantages.

Food packaging, medical packaging, and cosmetic bottles are few of the most grossing application areas, which are predominantly consuming PETG across the world. 3D printing, automotive films, building and construction, and few other industries are also investing in product offerings to relish various advantages of PETG-based products.

Polyethylene terephthalate glycol possesses high impact resistance and good thermal stability that make it ideal for applications such as 3D printing. Its safe nature also makes it suitable for making food packaging such as containers and bottles.

Polyethylene terephthalate glycol is also being used as a substance for medical implants and medical packaging. Hence, widening applications across various industries will elevate PETG demand over the projection period.

Despite such a wide array of applications and driving factors, sales prospects of PETG are witnessing sluggish growth. Implementation of carious stringent regulations over the use and disposal of PETG is hampering its growth rate. Awareness towards environment protection and plastic waste is likely to impede the growth of the market.

In order to counter this, companies are launching new innovative products that are biodegradable. For instance, recently, BioPETG, an environmentally friendly PETG filament was launched. Development of these eco-friendly products will help the market to thrive during the next ten years.

“Widening application of PETG in medical and food industries will boost polyethylene terephthalate glycol (PETG) market over the forecast period,” said an analyst at FMI.

Key Takeaways from Polyethylene Terephthalate Glycol (PETG) Market Study

• The worldwide polyethylene terephthalate glycol (PETG) industry is forecast to expand at 3.3% CAGR during the assessment period.
• By application, containers/packaging segment will continue to hold a significant share of the global PETG market through 2033.
• Based on end-use industry, most of the PETG demand is expected to arise from medical sector.
• South Asia Pacific and East Asia are expected to collectively hold more than half of the market share in the global PETG market.
• The USA polyethylene terephthalate glycol (PETG) market is forecast to exhibit a moderate CAGR during the projection period.
• India is expected to remain a lucrative market for PETG over the next the years.

Who is Winning?

Clariant Ltd., Eastman Chemicals Company, Shandong Shenghe Plastic Ltd, SM Kunststofftechnologie GmbH, Integrated Packaging Films Inc., and Industrial Plastics Belgium (IPB nv) are few of the leading manufacturers of polyethylene terephthalate glycol (PETG) profiled in the full version of the report.

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Key Segments Covered in Polyethylene Terephthalate Glycol (PETG) Industry Research

By Grade:

• Extruded Grade
• Injection Molding Grade
• Blow Molding Grade

By Application:

• Prototypes
• Containers/Packaging
• Tools, Jigs, Fixtures
• Equipment & Machinery
• Others

By End-use Industry:

• Food and Beverage
• Cosmetics
• Medical
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia Pacific
• Middle East & 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The Africa automotive refinish coatings market is poised for significant growth, with projections indicating a market size of approximately USD 165.4 million by 2033. This surge is attributed to an anticipated compound annual growth rate (CAGR) of 4.3% over the forecast period from 2023 to 2033. As the automotive industry in Africa continues to expand, driven by increasing vehicle ownership and the demand for quality refinishing solutions, the market for automotive refinish coatings is expected to flourish. This growth will be further supported by advancements in coating technologies and a rising emphasis on aesthetics and vehicle maintenance among consumers.

The booming automotive industry and increasing spending on maintaining the aesthetic appearance of vehicles are key factors driving the Africa automotive refinish coatings market. In recent years, an increase in the per capita income of people has led to a surge in the sales of passenger cars, especially luxury and executive cars.

Vehicle owners, today, focus on the maintenance of their vehicles, which has led to increased investments in the insurance of vehicles covering refinish coatings and repair costs, etc. People are refurbishing their old cars, which is creating enormous demand for automotive refinish coatings across African countries and the trend is expected to continue during the projection period.

Government initiatives to encourage the adoption of electric vehicles is also contributing to the expansion of the automotive refinish coatings market in Africa. FMI predicts electric vehicle sales to increase rapidly across African countries such as South Africa and Egypt due to growing pollution levels and rising fuel prices. This in turn will create lucrative growth opportunities for automotive refinish coating manufacturers.

Further, increasing number of commercial and passenger vehicles, increased awareness regarding the maintenance of cars, and development of sustainable and eco-friendly coatings will bode well for the Africa refinish coatings industry.

“Consistently growing demand from the automotive industry, particularly in countries such as Egypt and South Africa, will continue to boost Africa’s automotive refinish coating market during the next ten years,”said an analyst at FMI.

Key Takeaways from Africa Automotive Refinish Coatings Market Study

• Automotive refinish coating demand across Africa is estimated to surge at 4.3% CAGR through 2033.
• By technology, water borne segment is likely to create an incremental $ opportunity of about US$ 21.6 million during the forecast period of 2023 and 2033.
• Based on material type, acrylic segment is expected to witness steady growth during the next ten years.
• South Africa and Egypt are expected to collectively hold around 62.5% of the overall market share.
• South Africa is a prominent consumer of automotive refinish coatings with an estimated volume of 18,603.1 tons of automotive refinish coatings.

Who is Winning?

New product launches, facility expansions, partnerships, acquisitions, and collaborations are few of the key strategies adopted by automotive refinish coating manufacturers across Africa.

Top companies listed in the report include Nippon Paint Holdings Co., Guangzhou Zhenroumei Chemical Coating Limited, AkzoNobel N.V., James Briggs Limited, Axalta Coating Systems TOA Performance Coating Corporation CO., Ltd., Kansai Paint Co., Ltd., The Sherwin-Williams Company, The Lubrizol Corporation, HMG Paints Ltd., The Dow Chemical Company, Ltd., PPG Industries, Inc., KAPCI Coatings, 3M Company, NOVOL Sp. Z o.o., Sheboygan Paint Company, Cresta Paint Industries Ltd., NOROO Paint, and Coatings Co., Ltd., Reichhold LLC, Yashm Paint and Resin Industries, Allnex Group, and Covestro AG among others.

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Africa Automotive Refinish Coatings Market Segmentation

By Material Type:

• Polyurethane
• Acrylics
• Alkyd
• Nitrocellulose

By Product Type:

• Commercial Tents
• Primer
• Base Coat
• Top Coat
• Clear Coat
• Fillers

By Technology:

• Solvent Borne
• Water Borne
• UV Care

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

End Use:

• OEM
• Aftermarket

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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The European black and wood pellets market is currently valued at approximately USD 10,867.5 million and is projected to experience robust growth over the next decade. With a forecasted compound annual growth rate (CAGR) of 9.0% from 2022 to 2032, the market is anticipated to reach a substantial valuation of around USD 25,812.9 million by 2032. This growth is driven by increasing demand for renewable energy sources, as both black and wood pellets serve as eco-friendly alternatives to fossil fuels in heating and energy generation. The market’s expansion is further supported by favorable government policies promoting biomass utilization and a growing awareness of sustainability among consumers.

Rising usage of black & wood pellets in power and heat generation applications is a crucial factor expected to drive the market across Europe during the projection period. The Europe black & wood pellets market is expected to be dominated by countries like Germany, the U.K. & Italy and this trend is predicted to continue during the forecast period.

Black & wood pellets are an eco-friendly, renewable, sustainable, and clean kind of biomass. The market for black & wood pellets is rising due to the increased need for renewable energy worldwide and growing focus on limiting the use of fossil fuels that contribute to global warming.

Demand for black & wood pellets across Europe will also be driven by growing environmental concerns and rising government incentives toward sustainability.

People in colder climates choose wood pellet stoves because natural gas is more expensive than wood pellets. Wood pellets are becoming extremely prevalent as a low-cost domestic heating option. However, because of the superior features of black pellets, the black pellets market is predicted to rise at a rapid pace.

Wood pellets are widely consumed for various applications in European countries such as the United Kingdom, Italy, Germany & others. The increasing cost of energy and electricity, and fluctuations in the oil & gas industry are propelling the demand for renewable products for power generation

The demand for black & wood pellets in the industrial sector is increasing as the pellet-based power plant gains popularity as a preferred substitute for coal-based power plants. Additionally, governments all over the world are eager to promote the use of renewable energy in the transportation, industrial, and residential sectors.

Subsequently, consumers in industrialized nations like Europe are more environmentally conscious and continue to rely more and more on renewable energy resources. All these developments will positively impact black & wood pellet sales over the next ten years.

“Over the assessment period, sales of black & wood pellets are expected to be driven by the growing need for renewable energy sources for power generation & heat generation application,” says an FMI analyst.

Key Takeaways:

• By type, wood pellets segment is projected to hold approximately 90-97% of the total market share in 2022 while black pellets segment is set to grow at the fastest CAGR of 9.6% through 2032.
• The torrefaction sub-segment of the black pellets segment is anticipated to grow at 9.5% CAGR through 2032.
• By application, heat generation sub-segment of black pellets is set to grow at 10.0% CAGR during the forecast period.
• The industrial pellet for CHP/district heating segment is expected to reach about US$ 4,680.9 Mn by the end of the forecast period.
• The black & wood pellets market in the U.K. is expected to create an incremental $ opportunity of US$ 4,692.8 Mn during the forecast period.
• Germany’s black & wood pellets market is forecast to total a valuation of US$ 2,626.7 Mn by 2032.

Who is Winning?

Key market participants of the Black & Wood Pellets market elaborated in the report include Idemitsu Kosan Co., Ltd., Blackwood Technology, Zikha Biomass Energy, Arbaflame AS, TTCL Public Company Limited, Verdo Holding A/S, Airex Energie Inc., Graanul Invest, Iwatani Corporation, Land Energy Girvan Limited, Schwaiger Holzindustrie GmbH & Co. KG, Holzwerke Weinzierl GmbH, Balcas Energy, Enviva LP, Drax Group, Ambienta Biomasse, & Naparpellet.

To enhance their market presence and gain greater market shares, prominent market participants are actively focusing on acquisitions, collaborations, and geographical expansions.

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Europe Black & Wood Pellets Industry by Category

By Type:

• Black Pellets
  • Torrefaction
  • Steam Explosion
  • Hydrothermal Carbonization
• Wood Pellets
  • Forest Wood & Waste
  • Agriculture Residue
  • Others

By Application:

• Black Pellets
  • Power Generation
  • Heat Generation
• Wood Pellets
  • Free Standing Pellet Stove
  • Pellet Stove Insert
  • Pellet Boilers

By End Use:

• Black Pellets
  • Residential
  • Commercial
  • Industrial
  • Others
• Wood Pellets
  • Industrial Pellet for CHP/District Heating
  • Industrial Pellet for Co Firing
  • Pellets for Heating Residential/Commercial
  • Others

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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The global plastic calendering resins market is poised for significant growth, with an estimated market value of USD 23.6 billion in 2023, expected to reach approximately USD 42.26 billion by 2033. This robust expansion reflects a compound annual growth rate (CAGR) of nearly 6% during the forecast period. As industries increasingly adopt advanced plastic processing techniques for various applications, the demand for calendering resins is anticipated to rise, driven by their versatility in producing high-quality films, sheets, and other products. This growth trend is likely to be supported by innovations in material formulations and enhanced processing technologies, catering to the evolving needs of sectors such as automotive, construction, and packaging.

The PET resin segment is expected to expand at the fastest CAGR of 3.8% over the forecast period owing to its unique properties such as recyclability, lightweight, water resistance, and shatterproof. Therefore, it is widely used in the packaging of food & beverages

The COVID-19 pandemic impacted the market for plastic calendering resins as production activities were halted worldwide. On a global scale, the outbreak disrupted the whole supply chain. But since calendered plastic was in huge demand during the pandemic owing to increased demand from healthcare and packaging, it led to a positive impact on the industry.

The recent Russia-Ukraine war has led to a rise in crude oil prices, which has affected the plastic resins industry globally. However, owing to the rising demand for plastic calendered products, the market is set to grow over the forecast period.

Asia Pacific is anticipated to expand at the highest CAGR over the forecast period. The market growth in this region is primarily attributed to the rising young population and increasing disposable income, especially in India and China. The increasing working population in these countries coupled with a fast life has given rise to packaged food and beverages, further propelling the demand for plastic packaging.

Key Takeaways from the Market Study

• The food & beverages segment accounted for the largest share of over 30.0% in 2022.
• The healthcare segment is expected to expand at a CAGR of 4.3% over the forecast period.
• The PVC resins segment accounted for the largest share of over 55.0% in 2022.
• The healthcare end-use segment is expected to expand at a CAGR of 4.3% over the forecast period.
• Asia Pacific accounted for the largest revenue share of over 30.0% in 2022

“The ongoing R&D and technological developments in the field of plastic calendering resins and the widespread adoption of and need for calendered resins across various sectors are expected to drive the market in the coming future,” says an analyst at Future Market Insights.

Key Market Players

Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market.

Key players in the Plastic Calendering Resins market are Formosa Plastics Corporation; Westlake Corporation; Occidental Petroleum Corporation; Eastman Chemical Company; Avery Dennison Corporation; Covestro AG; China Petrochemical Corporation; Shin-Etsu Chemical Co., Ltd.; Reliance Industries Limited; SK Chemicals; LG Chem; LOTTE Chemical Corporation; SABIC; and Indorama Ventures Public Company Limited; and Orbia.

Some of the recent key developments among key players are:

• In December 2021, SABIC launched a new chemically upcycled polybutylene terephthalate (PBT) resin produced from ocean-bound polyethylene terephthalate (PET) bottle waste to reduce ocean pollution. The new calendering resin is named LNP ELCRIN IQ.
• In October 2020, LyondellBasell and Sasol announced that they entered a definitive agreement to form a 50/50 joint venture, through which LyondellBasell is likely to acquire 50% of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear low-density polyethylene plants, and associated infrastructure for a total consideration of USD 2 billion. The venture is expected to operate under the name Louisiana Integrated PolyEthylene JV LLC.
• In September 2020, INEOS Olefins & Polymers announced its partnership with Saica Natur in a supply agreement for recycled LDPE and LLDPE. The long-term agreement may help INEOS serve the growing demand for increased recycled products in sustainable, virgin quality flexible packaging.

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Key Market Segments Covered in the Global Plastic Calendering Resins Market

By Type:

• Polyvinyl Chloride (PVC)
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Polyethylene Terephthalate Glycol (PETG)
• Others

By End Use:

• Food & Beverages
• Automotive
• Healthcare & Medical
• Electrical & Electronics
• Construction & Buildings
• Furniture & Furniture Trim
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

During the forecast period 2023-2033, the cooling water treatment chemicals market is expected to grow at a value of 6% CAGR, according to Future Market Insights. By the year 2033, the global market for cooling water treatment chemicals is expected to rise up to a market valuation of USD 22,589 Million. Increasing demand from the power industry and the food and beverage industry is a major driving factor for the market.

The food & beverages, oil & gas, power, and textile industries are among the major end users of cooling water treatment chemicals. Cooling water treatment chemicals are the chemical agents that help remove harmful bacteria from cooling systems. It is mainly used to protect the systems from corrosion, prevent and slow down the processes of scale formation and fouling, and control the growth of harmful bacteria. Cooling water treatment chemicals can contribute to the greater efficiency and safety of high-pressure boilers, turbines, and cooling towers.

Corrosion inhibitors are the majorly used water treatment chemicals in the cooling water treatment industry. The use of corrosion inhibitors in cooling water systems improves efficiency of the system, thus facilitating maximum heat transfer, improving process throughput, and reducing the downtime for cleaning, helping the system to run for a longer time. Although, the COVID-19 pandemic affected the demand for cooling water treatment chemicals, the functioning of end user industries is expected to create lucrative opportunities for the market.

Corrosion inhibitors are designed to ensure metal protection and prevent metal loss, which may lead to critical system failures in recirculating water piping, process cooling equipment, and heat exchangers. The wide application of cooling water chemical treatments in various end user industries is increasing the adoption of the same. Furthermore, the establishment of small and medium scale industries is favoring the growth of cooling water treatment chemicals market.

Key Takeaways from the Market Study

• The global cooling water treatment chemicals market is expected to grow with a 6% CAGR during 2023-2033.
• By end use, the food and beverage industry is expected to possess 30% market share for cooling water treatment chemicals market.
• North America water treatment chemicals market is expected to grow by 4.5% annually in the forecast period and reach U$ 17 Billion by 2033,
• Asia Pacific is expected to hold 45% market share for cooling water treatment chemicals in 2023.

“Increasing application of cooling water treatment in end user industries that range from power industry to food and beverage is positively influencing the demand for the market,” comments a Future Market Insights analyst.

Competitive Landscape

Key players in the cooling water treatment chemicals market are Accepta, Albemarle Corporation, Buckman, Chemtex Speciality Limited, ChemTreat Inc., DuBios Chemicals, Ecolab, Veolia Water Technologies, Kemira Oyj and Kurita Water Industries Ltd

• Albemarle Corporation, a key company specializing in chemical production has undertaken research to understand the changing nature of end user industries and is manufacturing chemicals to treat water.
• DuBios Chemicals, another key player in the cooling water treatment chemicals market is focusing on providing cost efficient and sustainable solutions with its customized equipment that will serve different end user industries.

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Key Segments Profiled in the Cooling Water Treatment Chemicals Market Industry Survey

Type:

• Scale Inhibitors
• Corrosion Inhibitors
• Biocide
• Other Types

End Use:

• Power
• Steel, Mining, & Metallurgy
• Petrochemicals, Oil & Gas
• Food & Beverages
• Textile
• Others

Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The global chemistry 4.0 market is poised for significant growth, with projected sales reaching USD 76.1 billion in 2024. This burgeoning sector is expected to expand at a robust compound annual growth rate (CAGR) of 9.5% from 2024 to 2034, ultimately culminating in a market size of USD 188.7 billion by the end of the forecast period. The growth of Chemistry 4.0 is driven by the integration of advanced technologies, data analytics, and automation in chemical manufacturing processes, which enhance efficiency, sustainability, and innovation across the industry.

The increased emphasis on technology for different industrial applications, such as the increasing usage of IoT in the production process and the introduction of AI base models in predictive analytics for asset management and condition monitoring, are the key drivers and trends shaping the chemistry 4.0 market.

Smart manufacturing is becoming increasingly popular, which are expected to dominate the market for chemistry 4.0. The majority of factories in operation are furnished with cutting edge equipment and smart factory technologies, allowing other enterprises to transition from traditional to smart production. Key players in the chemistry 4.0 industry, government efforts, and increased financing for research and development activities are all the key factors that contribute to the market growth.

Digitalization in the chemical 4.0 industry is expected to accelerate owing to the recent breakthroughs, investor interest, and optimistic industry expectations. Due to the continued need for chemicals in related and unrelated sectors, the chemistry 4.0 market is expected to thrive during the forecast period. As a result, Chemicals 4.0 and Industry 4.0 must coexist, shaping the future adoption of chemical 4.0 products and a variety of digitalization drivers.

The energy sector is a large consumer of computational simulation tools, which will have a positive influence on the chemistry 4.0 market. The energy and process sectors have collaborated with ABB and CORYS to provide advanced dual technology solutions that improve control monitoring and process modeling simulations. Computational simulations, particularly molecular modeling, have significant chemistry 4.0 market prospects in the pharmaceutical sector.

Key Takeaways from the Chemistry 4.0 Market:

• India is likely to augment at a CAGR of 14.2% throughout 2034.
• Spain is anticipated to ascend at a CAGR of 7.1% throughout 2034.
• The United States is expected to rise at a CAGR of 5.3% by 2034.
• AI is projected to hold a market share of 42.60% in 2024.
• The Industry segment is likely to hold a market share of 29.40% in 2024.

 “The popularity of industrial robots is increasing, as is the need for industrial automation further driving the Chemistry 4.0 market,” says an FMI Analyst

How are key players revolutionizing the Chemistry 4.0 Market?

The key market players are strengthening their positions in the chemistry 4.0 market through a range of techniques, including mergers and acquisitions. The leading players are actively incorporating cutting edge technology such as 3D printing and digital twins, among others. The tough competition in the market for chemistry 4.0 is driving large companies to focus on acquisition in order to position themselves as market leaders.

Recent Developments:

• In December 2023, TM Forum, and Jio, inaugurated the first TM Forum Innovation Hub in Mumbai, India. The Innovation Hub aims to accelerate the development of Generative AI, Large Language Models (LLM), and Open Digital Architecture for the benefit of the industry as a whole.
• In October 2023, The Mitsubishi Chemical Group (MCG Group) announced the acquisition of CPC SRL (CPC), a famous Italian firm that manufactures and distributes vehicle components made of carbon fiber reinforced plastic (CFRP).

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Top Key Players

BASF, Dow, Sinopec, Sabic, Ineos, ExxonMobil Chemical, LyondellBasell Industries, Mitsubishi Chemical, DuPont, LG Chem and Reliance Industries are the major players in the Chemistry 4.0 market.

Key Segments of the Report

By Technology:

The Chemistry 4.0 market is classified into IOT, AI and automation.

By Application:

The Chemistry 4.0 market is classified into consumer, enterprise, industry, construction and manufacturing.

By Region:

Analysis of the Chemistry 4.0 market has been carried out in key countries of North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe and Middle East & 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube