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Ortho-xylene is a chemical compound belonging to the family of aromatic hydrocarbons. It is one of the three isomers of xylene, the other two being meta-xylene and para-xylene. Ortho-xylene is a colorless, flammable liquid with a distinct aromatic odor. It is primarily used as a raw material in the production of various chemicals and plastics, making it a crucial component of the chemical industry.

The ortho-xylene market is influenced by a combination of factors, including the growth of end-use industries, technological advancements, environmental regulations, and global economic conditions.

Market Dynamics:

1. Growing Demand for Chemicals and Plastics: Ortho-xylene serves as a key building block in the production of various chemicals and plastics. It is a vital precursor in the manufacturing of phthalic anhydride, which finds applications in the production of plasticizers, paints, and coatings. The increasing demand for plastics and chemical products across industries such as automotive, construction, and packaging is driving the demand for ortho-xylene.
2. Advancements in Production Technologies: Advancements in production technologies, including more efficient catalysts and process optimization, have led to improved ortho-xylene production yields and reduced energy consumption. These advancements are positively impacting the market by enhancing the overall cost-effectiveness of ortho-xylene production.
3. Environmental Regulations and Sustainability: As the world shifts towards more sustainable practices, environmental regulations have become stringent. Manufacturers are under pressure to adopt eco-friendly production methods and reduce emissions. This trend is encouraging the development of greener processes for ortho-xylene production, which, in turn, is likely to influence market growth.

Regional Outlook:

The ortho-xylene market’s growth varies across regions. Developing economies with rapidly expanding chemical, plastics, and construction industries are witnessing significant demand for ortho-xylene. Additionally, regions that are investing in sustainable practices and green technologies are likely to influence the market’s direction.

Competitive Landscape Analysis

The survey offers insights into critical trends and opportunities across the technology industry and studies their impact on demand-supply forces in the Ortho-Xylene market. It also profiles a list of prominent companies including

• Creasyn Finechem (Tianjin) Co., Ltd.
• Doe & Ingalls of North Carolina Inc.
• Dyna Chem Inc.
• Minda Petrochemicals Ltd.
• Shell Chemicals
• Sonoco Chemicals
• USA Petrochemical Industries Ltd.

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Ortho-Xylene Demand Analysis by Category

By Type

• Ortho-xylene
• Meta xylene
• Para xylene

By Application

• Phthalic Anhydride
• Bactericides
• Herbicides
• Lube Oil Additives

By End Use

• Automotive
• Building & Construction
• Paints & Coatings
• Aerospace & Defence
• Electrical & Electronics
• Agrochemical
• Oil & Gas
• Chemical

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 acrylic paint market is set to experience steady growth, with its size projected to reach USD 209.4 million by 2034, up from USD 138.8 million in 2024. Despite this growth, the market is expected to expand at a modest CAGR of 4.2%, reflecting a relatively slow but consistent increase in demand over the forecast period.

The infrastructural developments support the acrylic paint market growth. The main reason behind this is that the new construction requires extensive paints for decorating the interior. The rising urbanization spurs the industrial coating segment. As a result, it drives the acrylic paint market for painting commercial and non-commercial projects.

The growing artistic expression and emphasis on its importance are leveraging the demand for acrylic paints. Due to this, the acrylic paint market is pushed. The growing technology creates room for innovation for the top acrylic paint brands, leveraging their growth. Hence, this will drive the acrylic paint market.

Key Takeaways from the Market Study

• The growing building and construction industry is fueling the demand for acrylic paints. The segment will hold 47.4% of the acrylic paint market in 2024.
• Heavy body acrylics are widely used due to their better drying-off period. As a result, the segment is gaining popularity and will secure 54.2% of the market space in 2024.
• The Indian acrylic paint market growth will occur the highest during the forecasted period, forecasting a CAGR of 6.2%.
• Compared to the historical figures, the market growth will encompass a better path. It will progress at a CAGR of 4.2%, better compared to 2.3%, the historical development.

“For meeting environmental standards, strict regulatory policies are formed by governments, which is a key market challenge,” says an FMI analyst.

Competitive Landscape of the Acrylic Paint Market

With the substantial negotiating power of leading acrylic paint manufacturers, the competitive landscape of the market is fiercely cluttered. Due to this, the scope of growth for the new entrants reduces drastically. However, product launches, innovation, and strategic alliances might uplift their market presence.

On the other hand, top acrylic paint brands must use different tactics, including strategic partnerships, collaborations, mergers, and acquisitions. Some of the key market developments that occurred in the market are:-

• In December 2023, AkzoNobel Powder Coatings signed a partnership with coatingAI. This partnership aimed to expand sustainability frontiers. The integration of AI to reduce carbon footprints aims to achieve sustainable output standards, helping the organization to enhance its production.
• In April 2024, BASF SE launched a new generation of clearcoats and undercoats aimed to target the Asian Pacific refinish market. This product launch will assist the organization to gain a better market position in the global market.

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Top Key Players in the Acrylic Paint Market

• Azkonobe
• Asian Paints India
• BASF SE
• Berger Paints India
• Berkshire Hathaway
• PPG Industries
• The Dow Chemical
• Sherwin-Williams
• National Coatings
• Gellner Industrial

More Valuable Insights Available

Future Market Insights offers an unbiased global acrylic paint market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

The market is segmented by Product Type (Heavy Body Acrylics, Fluid Acrylics, Open Acrylics, and Others), Application (Walls, Fabrics, Metal, Ceramics, and Others), Industry Vertical (Building & Construction, Industrial, Textile, Automotive, and Others), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The global poly(butylene succinate) market value is expected to increase from USD 115,306.8 thousand in 2023 to USD 361,225.6 thousand by 2033. Global poly(butylene succinate) sales are anticipated to thrive at 12.1% CAGR during the assessment period.

Several factors are anticipated to drive global poly(butylene succinate) market growth. These include a rising preference for eco-friendly materials and growing demand for poly(butylene succinate) from packaging, agriculture, medical, and textile industries.

Today, consumers are shifting their preferences towards eco-friendly products, driving demand for materials that align with sustainability values. As a biodegradable and eco-friendly material, poly(butylene succinate) is used in various consumer products, including textiles, personal care items, and throwaway items.

The surging popularity of on-the-go packaged food items has led to a global rise in convenience food consumption. This surge is set to drive substantial demand for PBS in food packaging, fostering market growth over the forecast period. The rapid expansion of the medical industry is anticipated to fuel global demand for poly(butylene succinate). This is due to the rising usage of this material in several medical devices.

Among the petro-based and bio-based PBS, the latter segment is expected to thrive at a higher growth rate. This is due to the growing demand from packaging and agriculture industries. Rising environmental concerns and increasing awareness about plastic pollution will likely boost the demand for sustainable packaging solutions. This is expected to create growth opportunities for global poly(butylene succinate) manufacturers.

Asia Pacific is the leading manufacturer of poly(butylene succinate) owing to the low-cost manufacturing along with vast supply chains in this region. In contrast, the countries from North America and Europe dominate the consumption of PBS due to strict regulations in these markets.

Key Takeaways from the Poly(butylene Succinate) Market Report:

• The global poly(butylene succinate) market is set to thrive at 1% CAGR through 2033.
• By product type, the bio-based PBS segment is expected to hold around 85% market share by 2033.
• By processing method, the extrusion process is predicted to hold about half of the market share by 2033.
• Based on end-use industry, agriculture segment is forecast to thrive at 7% CAGR through 2033.
• The United States market value is expected to reach US$ 86,868.9 thousand by 2033.
• Sales revenue in Germany is projected to reach US$ 42,548.6 thousand by 2033.
• China market is poised to exhibit a CAGR of 2% between 2023 and 2033.
• Demand in Japan is anticipated to rise at 4% CAGR through 2033.

“Versatile applications of poly(butylene succinate) in multiple end-use industries coupled with sustainable routes for production will surge product demand through 2033. Delay in adoption of regulations mandating recyclable or bioplastics could hamper growth. However, current trends in the market suggest otherwise as a significant share of key market players are shifting to adopt poly(butylene succinate) and other bioplastics, regardless.” – says a lead analyst at FMI

Who is Winning?

The poly(butylene succinate) market is estimated to be slightly consolidated, where top market participants hold about 60% to 65% of the market share. Leading manufacturers of poly(butylene succinate) listed in the report include Mitsubishi Chemical Corporation, Hengli Group Co., Ltd., Anhui Sealong Biotechnology Co., Ltd. and others.

The market has experienced increased activity in product development, with key manufacturers prioritizing product launch initiatives. These key players are committing substantial investments to enhance domestic production capabilities. Additionally, there have been notable advancements in the manufacturing processes of poly(butylene Succinate), resulting in enhanced production efficiencies and cost reductions.

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Poly(butylene Succinate) Market Segmentation

By Product Type:

• Bio-Based
• Petro-Based

By Processing Method:

• Injection Moulding
• Extrusion
• Blow Molding
• Film Casting

By End-use Industry:

• Packaging Industry
  • Films
  • Bags
  • Containers
• Agriculture
  • Mulch Films
  • Planting Pots
  • Others
• Medical
  • Implants
  • Drug Delivery Systems
• Textile
  • Sportswear
  • Apparels
  • Interior Textiles
• 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
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The ferro aluminum market plays a pivotal role in the metallurgical industry, offering a unique alloy that combines the strength of aluminum with the desirable properties of iron. This alloy finds extensive applications in various sectors, ranging from automotive to aerospace and construction.

Market Overview:

Ferro Aluminum is an alloy of iron and aluminum, typically containing between 25-35% aluminum. This alloy is renowned for its exceptional strength, durability, and resistance to corrosion. Its diverse applications in manufacturing, construction, and transportation make it a crucial component in the global metallurgical landscape.

Key Market Trends:

1. Growing Demand in the Automotive Sector: The automotive industry is a major consumer of Ferro Aluminum, utilizing it in the production of lightweight and high-strength components. With the automotive sector’s increasing focus on fuel efficiency and emission reduction, Ferro Aluminum is becoming an integral material for manufacturing lightweight vehicles.
2. Aerospace Industry Driving Innovation: The aerospace sector has been a traditional user of Ferro Aluminum due to its ability to withstand high temperatures and provide structural integrity. Ongoing developments in the aerospace industry, including the surge in demand for commercial aircraft, are expected to fuel the growth of the ferro aluminum market.
3. Infrastructure Development Boosting Construction Applications: The construction industry is witnessing a surge in infrastructure projects globally. Ferro Aluminum’s corrosion resistance and durability make it a preferred choice for construction materials, particularly in regions with harsh environmental conditions.
4. Technological Advancements in Production: Continuous advancements in production technologies are enhancing the efficiency and cost-effectiveness of ferro aluminum manufacturing. This, in turn, is contributing to the market’s growth, making the alloy more accessible to a wider range of industries.

Ferro Aluminium Market Top Players

• AMG Advanced Metallurgical Group
• Tremond Metals Corp.
• Core Metals Group,
• Gulf Chemical and Metallurgical Corporation
• Bear Metallurgical Company

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Key Segments Covered in the Ferro Aluminium Market Report

Type:

• Pure Ferro Aluminium Alloy
• Ferro Aluminium Alloy Mixture

Application:

• Ferro Aluminium for the Automobile Industry
• Ferro Aluminium for Machinery Manufacturing
• Ferro Aluminium for the Fireworks Industry
• Ferro Aluminium for Other Applications

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Japan
• 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 global fiber cement board market value is likely to jump from USD 10,980.6 million in 2023 to USD 16,890 million by 2033. This estimated growth is expected to be driven by a steady CAGR of 4.4% in the global fiber cement board market over the next decade.

Increasing demand for high-performing fiber cement board building solutions in the construction industry is fueling the market growth. Their adoption is also driven by their ability to reduce construction costs, as they are easy to transport and require minimal effort by labor.

Sales of fiber cement boards are predicted to flourish in developing economies as investment in the construction of housing projects surges. Emerging new projects including single- and multi-family housing are enhancing the scope of construction materials.

In India, the residential construction sector is expected to be supported by the Pradhan Mantri Awas Yojana-Urban (PMAY-U) “Housing for All” Mission that is predicted to continue till 31^st December 2024.

The increasing concern of the Indian government to complete big infrastructure projects prior to the 2024 elections is also a key motivator of infrastructure construction in the country. Thus, creating significant opportunities for fiber cement board producers.

Development of the commercial sector that incorporates hospitality buildings, outdoor leisure facilities, retail buildings, office buildings, and other commercial buildings is another factor that is increasing prospects for the product. Apart from offices and other projects, the expansion of the tourism business is also expected to bring new avenues for construction.

“Soaring investments in housing and infrastructural projects, especially in developing countries, are creating multiple opportunities for the producers of construction materials like fiber cement board. With these emerging opportunities, key players are focusing on enhancing their product portfolio by taking into account the valuable insights from their customers. This strategy is predicted to give them leverage over their competitors,” says an FMI analyst.

Key Takeaways from the Fiber Cement Board Market Report:

• In 2022, the fiber cement board market attained a value of US$ 10,520 million.
• Based on end use, the commercial segment is expected to obtain a 32.10% market share in 2023.
• Portland cement is predicted to acquire a market value of 78.10% in 2023.
• China and India are assessed to expand at significant CAGRs of 5.1% and 5.3% through 2033.
• Japan is predicted to exhibit a growth rate of 2.7% CAGR over the forecast period.
• Germany and the United Kingdom are predicted to register CAGRs of 1.8% and 2%, respectively.
• The United States market is projected to record a CAGR of 2.3% through 2033.

Key Players in the Fiber Cement Board Market

• James Hardie Industries PLC
• Etex Group NV
• Cembrit
• Mahaphant Fibre Cement Co., Ltd.
• Elementia
• S.A.B de C.V.
• Everest Industries
• Saint-Gobain
• Hume Cemboard Industries
• Nichiha Corporation
• Soben board Everest

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Key Segments

By Raw Material:

• Portland cement
• Silica

By Application:

• Commercial Buildings
• Residential Buildings

By End Use:

• Residential
• Commercial
• Industrial

By Region:

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

With the support of various growth drivers for the helium gas market, the sector will encompass a sluggish advancement, reaching a stage of maturity. The said industry will follow a CAGR of 4.4% through 2034. The helium gas market size will attain USD 46.8 billion by 2034, elevating the size from USD 30.4 billion, measured in 2024.

The rising dependency on nuclear power generation has forced people to seek the effective functioning of atomic systems. Nuclear reactor cooling systems are gaining traction in the industry. This can be fulfilled with the help of Helium, as the gas possesses a significantly lower boiling point. This explains the increasing helium gas market size.

Similar to the nuclear industry, the healthcare industry is fueling growth drivers for the helium gas market. The medical sector is evolving, using innovative and cutting-edge techniques for medical inspection. Helium finds wide applications in the medical field, including MRI machine cooling for repetitive use, which drives the demand for the gas.

Key players in the helium industry gain traction due to the growing electronics and semiconductor industry. Helium can effectively be used in the construction of LCDs, which is the reason for the growing sector of such players. As a result, the industry is fueled to grow.

With the ability of the gas to meet sustainability, governments are mandating the use of Helium as an alternative source of energy. Such factors increase the helium gas market size.

Key Takeaways from the Market Study

• The helium gas market in the United States of America will advance at a CAGR of 4% through 2034.
• India will lead the industry by registering the advancement at a CAGR of 5% from 2024 to 2034.
• The United Kingdom will likely traverse a sluggish progress path in the sector at a CAGR of 7% through 2034.
• The healthcare industry will demand helium the most, justifying the share of 7% in the competitive landscape.

“With the overuse of helium, the reserves of the gas might become obsolete, which is a key challenge, affecting the growth drivers for the helium gas market,” says an FMI analyst.

Competition Outlook

Key players in the helium industry have substantial market share, which might affect new entrants. The saturation in the industry explains the competitive force within the landscape.

Key competitors expand using partnerships, mergers, and acquisitions, whereas new entrants can choose strategic alliances and innovation to gain a substantial position in the industry.

The following recent developments enhance the helium gas market share:-

• In March 2023, Linde PLC expanded in Penneselvia with the help of a corporate office. This will expand the functioning of the organization in new sectors.
• In April 2024, Air Liquide strengthens its global presence by acquiring Homecare Activities in the Netherlands and Belgium. The move also expands the reach of the organization.

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More Valuable Insights Available

Future Market Insights offers an unbiased global helium gas market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

The market is segmented by Supply Mode (Cylinders, Bulk and Micro tanks, Drum tank, and On-site), By Application (Healthcare, Manufacturing, Electronics, Leak Detection, Fibre Optics, Lifting Gas, Heat Transfer, Breathing Mixtures, and Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, 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: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The global renewable naphtha market is anticipated to reach approximately USD 466.58 million in 2023, reflecting a significant surge in demand for sustainable alternatives to traditional synthetic plastics. As industries increasingly prioritize eco-friendly solutions amid growing environmental concerns, the sales of renewable naphtha are set to experience robust growth, projected at an impressive compound annual growth rate (CAGR) of 13.7% through 2033. This upward trend is driven by the rising adoption of renewable naphtha in various applications, including the production of bio-based chemicals and fuels, further solidifying its role as a key player in the transition towards a more sustainable and circular economy.

The use of renewable naphtha by refineries is a great way to provide a low-carbon alternative fuel for their customers. The use of bio naphtha in petrochemicals and gasoline blendstock to replace oil-based naphtha is growing significantly. A bio naphtha fuel can be used in gasoline blending pools both as a complement to ethanol and ETBE and also as a replacement.

Naphtha made from renewable resources has several advantages, including low carbon intensity and renewable alternatives to traditional naphtha. A variety of products, including plastics, bioplastics, and renewable gasoline, can be produced by using biomass sources such as agricultural waste and algae. The environmental impact of fuel production can be minimized by using renewable naphtha instead of traditional fossil fuels. Naphtha made from renewable resources can help diversify fuel supplies and reduce dependence on fossil fuels.

Aromatic compounds can also be produced from renewable naphtha. Consumer demand and European Union regulations have made naphtha an increasingly valuable resource for plastics made from non-fossil sources. As demand for plastic-based products such as bespoke articles, home decor, and electronics grows, sales of renewable naphtha in the plastic production segment are on the rise. The demand for renewable naphtha is increasing as automakers and governments across the United States, India, and China promotes the use of bio-based fuels.

Key Takeaways:

• Nearly 33% of sales are expected to be generated by Germany in Europe by 2031, making it the fastest-growing country in Europe.
• The market is forecast to be dominated by China in 2023, accounting for 82% of the market share.
• There are projections that the light naphtha segment will hold approximately 96% of the near-term market for renewable naphtha.
• Feed for plastic production is expected to account for nearly 76% of global feed sales by 2033.
• Renewable naphtha consumption in India is expected to grow at 9.6% CAGR in 2033.

“As synthetic plastics regulations tighten and emissions increase, the market will gain traction due to the increased use of petrol and diesel. Renewable naphtha demand is expected to increase due to advances in technologies such as NExBTL over the next few years,” – says an analyst at FMI.

Competitive Landscape:

The number of renewable naphtha producers has expanded and penetrated new markets both organically and inorganically over the past few years. Expansion of production capacity and increase their market share, key companies are developing new production facilities, merging with other players, acquiring companies, and signing agreements with them.

Recent Market Developments Include:

• In June 2023, Lumene, a Finnish beauty brand, introduced a bio-based packaging application utilizing material produced by UPM and processed by Sabic. UPM BioVerno naphtha, produced by UPM in Finland, is the source of Lumene’s new jar and self-adhesive label. Cooperating with UPM and Sabic, the firm is driving the transition to renewable resources and taking the next step on its sustainability journey.
• In June 2023, EcoCeres, Inc. announced plans to build a biofuels plant in Pasir Gudang, Johor. An annual capacity target of 350 000 t will be achieved at the facility, which will produce hydrotreated vegetable oils, renewable aviation fuels, and renewable lubricants. The construction of a sustainable biofuel facility will start with the help of EcoCeres, resulting in significant implications for the nation and state as a whole.

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Top Key Players

• Neste Oyj.
• ENI
• Darling Ingredients Inc.
• CNPC
• Diamond Green Diesel
• Renewable Energy Group, Inc.
• Marathon Petroleum Corp
• Preem
• Philips 66
• UPM Biofuels

More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global renewable naphtha market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the renewable naphtha market, the market is segmented on the basis of product type (light naphtha and heavy naphtha), and application (fuel blending, feed for H₂ production, and feed for plastics production), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, 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

 

The global sodium hydroxide market is projected to experience steady growth, valued at approximately USD 31,108.9 million in 2023. With a compound annual growth rate (CAGR) of 4.0% anticipated over the next decade, the market is expected to reach around USD 46,048.7 million by 2033. This growth is driven by the increasing demand for sodium hydroxide across various industries, including chemicals, textiles, pulp and paper, and water treatment, where it is utilized for its key properties such as alkalinity and reactivity. As industries expand and evolve, the need for this versatile chemical compound is likely to persist, supporting its market expansion throughout the forecast period.

Sodium hydroxide is commonly utilized to dissolve grease, oils, fats, as well as protein-based deposits. Also known as caustic soda, it is used in the production of active agents or builders, as well as household bleach products. Furthermore, it is also used in the saponification process, which involves converting vegetable oil into soap. The chemical is utilized in the production of anionic surfactants for the saponification process. Increasing demand from key end-use industries such as water treatment, soaps, detergent manufacturing, and others is driving the demand for sodium hydroxide. The worldwide market for sodium hydroxide is likely to gain momentum from key end-use industries in the long run. Innovative research & development in the field of chemical industry verticals are making their usage more convenient for key end-use industries.

The East Asian region is expected to remain a key market for sodium hydroxide on the basis of both production and consumption. Owing to the exemplary expansion of the commodity chemical sector in China in the past decade. Prominent sodium hydroxide manufacturers are focusing on the expansion of their respective production capacities for catering to both global and regional demand. Government-backed favorable policies will bolster the manufacturing industries in their regions benefiting regional key players in emerging countries like India. Moreover, manufacturers have increased product features, yield, and efficiency for industrial applications to fulfill end-user requirements. These aforementioned factors are propelling the demand resulting in a higher growth outlook between 2023 and 2023.

Key Takeaways

• Accelerated production of pulp and paper is one of the key factors driving the growth of global caustic soda demand. Caustic soda is predominantly utilized in the pulp and paper industry with its augmenting application in the processing or cooking of chemical pulps.
• This chemical is primarily utilized to digest wood in order to generate wood pulp and is also utilized as a bleaching agent for neutralizing bleached pulp and paper. Furthermore, caustic soda is also used for waste paper deinking.
• The inorganic chemical assists in the extraction of lignin elements from raw materials such as wheat straw, wood, and bagasse. It is used in almost all pulp bleaching methods, including sulfate, sulfite, and soda. Substantial volume production of paper all over the globe is augmenting the consumption of sodium hydroxide.
• The usage of sodium hydroxide is common across a diverse array of industries. Across industrial settings, it is primarily used as a base that facilitates the production of sodium-based detergents and salts. It is also used for applications such as organic synthesis and pH regulation.
• Sodium hydroxide also consists of various other applications. They are excessively used as drain cleaners, in paper manufacturing, in creating artificial textile fibers, and in treating pretzel dough and bagels. East Asia currently holds dominance in the global market, accounting for around 44.9% of the sodium hydroxide demand.

Competitive Landscape

The caustic soda market is anticipated to account for around 35% of the global sodium hydroxide market. Furthermore, prominent manufacturers in the market are investing in capacity expansions to cater to the growing demand. Major companies are also focusing on demographic expansion into the untapped market by strengthening their distribution network.

European-based manufacturers are concentrating on forward-chain integration by getting hold of key suppliers of caustic soda in other regions to increase their sales footprint. North American market players are investing in acquisitions and merger activities to maintain their dominance in the global market.

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Global Sodium Hydroxide Industry by Category

By Product Type:

• Flakes
• Caustic Lye

By Application:

• Alumina
• Textile
• Pulp and Paper
• Soaps and Detergent
• Dyes and Inks
• Pesticides
• Pharmaceuticals
• Water Treatment
• Petrochemicals
• Power and Steel
• Food Processing
• Organics
• Inorganics

By Region:

• North America
• Latin America
• East Asia
• South Asia
• Europe
• Oceania
• Middle East and Africa

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