Market Research Blog

Viscosity Index Improvers Market​ Key Takeaways

• The demand for lubricants is estimated to reach 40 Mn Tons by the end of 2022.
• The penetration of high performance lubricants in automotive as well as industrial sectors is increasing with growing focus on lubrication for performance efficiency of industrial machinery and automotive components.
• Increasing labelling initiatives have propelled the demand for ISO-grade viscosity lubricants. High-quality lubricants have optimum viscosity, offer corrosion protection, and ensure oxidative stability.
• Major companies are focused on the development of bio-preferred or bio-based products, which are compliant with the changing regulatory scenario. For instance, Croda International Plc is developing ester-based viscosity index improvers, which are bio-preferred.
• High regulatory standards laid down by organizations such as NHTSA & EPA, and growing emphasis on fuel economy have made the usage of viscosity index improvers crucial.
• Viscosity index improvers are commonly used in multi-grade engine oils. Increased adoption of high-performance engines has boosted the demand for high-quality engine oils with appropriate viscosity, which in turn, is positively impacting the growth of the viscosity index improvers market.
• Other industries such as marine, railways, energy & power generation/transmission equipment are also increasing the demand of high-quality lubricants, thus propelling the growth of viscosity index improvers market.

The viscosity index improvers market is witnessing a paradigm shift in terms of innovation and manufacturing, from traditional synthetic products to bio-based or bio-preferred products that are in compliance with regulatory framework. This transition, along with production cost optimization, will drive substantial demand for the product in automotive as well as non-automotive applications.

Viscosity Index Improvers Market: Competition Landscape

According to FMI analysis, the global viscosity index improvers market is moderately consolidated with key market players such as Infenium International Limited, Chevron Oronite LLC, Afton Chemical Corporation, The Lubrizol Corporation, Evonik Industries AG, and Mitsui Chemicals accounting for a significant share in the global market. Leading market players are strategically engaging in the development of close working relations with lubricant manufacturers for ensuring long-term supply contracts.

Contact Sales for Further Assistance in Purchasing this Report- https://www.futuremarketinsights.com/checkout/5628

Changing Regulatory Scenario Encourages Advancements in Lubrication Technology

The demand for viscosity index improvers is directly proportional to the production rate of lubricants. Changing regulatory scenario and imposition of emission standards have led to the development of high-quality lubricants, which has increased the penetration of lubricant additives such as viscosity index improvers. Development of new customized product variants for target applications along with existing products gives a competitive edge to manufacturers.

Contact Us:                                                      

Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Global Precious Metal Plating Chemicals Market: Segmental Highlights

The global precious metal plating chemicals market is segmented by chemical base metal, by end use industry, by product form and by region.

• By product form, the solution/concentrate segment is expected to be highly lucrative. This is the fastest growing segment in this category and is projected to register a CAGR of 4.0% during the period of forecast to reach a valuation of around US$ 1,950 Mn by 2027 end.
• By end use industry, the electrical and electronics segment is the largest in terms of value and is expected to dominate the global market. By 2027 end, this segment is estimated to reach a value more than US$ 900 Mn. The hardware and other industrial segment is projected to grow at a comparatively higher CAGR of 4.2% throughout the forecast period. However, the electrical and electronics segment reflects higher market attractiveness and high scope for growth in the coming years.
• By region, Asia Pacific excluding Japan (APEJ) is a high growth regional market for precious metal plating chemicals during the forecast period. The precious metal plating chemicals market in this region is projected to grow at the highest pace compared to other regions and is expected to witness a market valuation a bit under US$ 650 Mn by 2027 end.
• By chemical base metal, gold is the dominating segment and is expected to reflect a 1.5x increase in revenue during 2017-2027. This segment is projected to register a high CAGR of 4.3% during the forecast period.

Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-4603

Global Precious Metal Plating Chemicals Market: Aspects Influencing Growth

Increasing demand for precious metal plating chemicals from the electrical and electronics sector, growing use of precious metal plating chemicals in the aerospace industry, increasing governmental support in the electronics industry ultimately pushing the demand for precious metal plating chemicals, growing automotive industry aiding the demand for precious metal plating chemicals, expanding consumer electronics market supporting the growth of precious metal chemicals and increasing demand from diverse end use industries at a global level are pushing the growth of the global precious metal plating chemicals market. Aspects restricting the growth of the market are challenges associated with raw material procurement and price fluctuations, strict regulations governing the manufacture and disposal of cyanide based chemicals and the use of alternatives such as development of non-platinum group metal catalysts.

Global Precious Metal Plating Chemicals Market: Forecast

The global precious metal plating chemicals market is expected to reach a valuation of more than US$ 2 Bn by the end of the assessment year from a value of below US$ 1,500 Mn in 2017. The global precious metal plating chemicals market is projected to grow at a CAGR of 3.9% throughout the period of assessment.

Global Precious Metal Plating Chemicals Market: Company Profiles

The report includes key profiles of major companies dealing with precious metal plating chemicals. Company details such as company overview, key personnel, strategies, key financials, SWOT analysis, key developments, product portfolio analysis and geographical spread are covered in the report. Profiling of companies such as Heimerle + Meule GmbH, JAPAN PURE CHEMICAL CO. Ltd., American Elements, Shaanxi Kaida Chemical Engineering Co., Ltd., Metalor Technologies International SA, Heraeus Holding, MATSUDA SANGYO CO., LTD., Superchem Finishers, SAXONIA Edelmetalle GmbH, UMA CHEMICALS, LEGOR GROUP S.p.A., Johnson Matthey, Umicore, Robert Chemical Co., Inc., Technic Inc., Electrochemical Products, Grauer & Weil (India) Limited, Riko Chemicals Pvt. Ltd., Micron Platers and Solar Applied Materials Technology Corporation has been done.

To remain ‘ahead’ of your competitors, get customized report – https://www.futuremarketinsights.com/customization-available/rep-gb-4603

Market Segmentation

By Chemical Base Metal

• Platinum
• Rhodium
• Gold
• Silver
• Palladium
• Others (Iridium, Etc.)

By End Use Industry

• Aerospace
• Electrical and Electronics
• Medical Device
• Automotive
• Jewelry
• Hardware and Other Industrial

By Product Form

• Solid/Powder
• Solution/Concentrate

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Japan
• Asia Pacific excluding Japan (APEJ)
• Middle East and Africa (MEA)

In recent years, the building and construction sector has witnessed tremendous growth, simultaneously making a positive impact on the sales of coating additives. Increasing consumer awareness about importance of using high-quality painting materials for buildings and houses is also driving the demand for various types of coating additives.

Further, arrival of more advanced and efficient coating additives has led to greater usage of the product in the automotive industry. The new variants of coating additives offer a superior functionality in keeping the exterior paint work of cars at optimum condition for prolonged durations. Also, coating additives continue to gain traction in the manufacturing of several aviation, industrial engineering as well as wood & furniture products.

However, increasing concerns over harmful effects of VOC found in coating additives continue to be a major growth deterrent for the market. This, in turn, is prompting manufacturers to make greater efforts in developing environmental-friendly coating additives such as water-borne or bio-based. Moreover, introduction of such coating additives can create new market opportunities in the foreseeable future. Such factors are anticipated to shape the dynamics of the global coating additives market during the assessment period.

Request Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-275

Additional Highlights of the Report Include:

• Based on formulation, the solvent based segment will retain is top position in 2017 and beyond. In terms of revenue, this segment currently accounts for more than 50% share of the global market. In addition, the solvent based segment is estimated to reach a valuation of over US$ 4,954 Mn towards the end of 2022.
• On the basis of product type, the acrylics segment will remain dominant over 2022. This segment presently commands for more than one-fourth revenue share of the market and is expected to surpass a market valuation of US$ 2,401 Mn by the end of the assessment period, reflecting a steady CAGR.
• By application, the rheology modification segment will remain highly attractive throughout the assessment period. This segment presently accounts for over 30% market share in terms of revenue and is expected to soar at a CAGR of 4.4% from 2017 to 2022

Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-275

Europe to be at the Forefront; North America & APEJ to follow

FMI’s report mentions that the market for coating additives in Europe will retain its leading position over 2022. In addition, the region’s coating additives market is set to soar at an impressive rate and procure more than US$ 1,799 Mn by the end of forecast period.  This is primarily owing to the influx of emigrants in the region, which is resulting in greater demand for construction supplies including paints and coating additives for housing and relief shelters. Among other regions, North America and Asia-Pacific excluding Japan (APEJ) are also projected to witness steady growth of their respective coating additives markets. During the forecast period, market in the APEJ region is expected to exhibit the fast CAGR.

The report has also mentioned key companies functioning in the global market for coating additives, namely Arch Chemicals, Ashland Global Holdings, Inc., Asahi Glass Co., Ltd., Evonik Industries AG, Lonza Group AG, Akzo Nobel NV, Arkema SA., BASF SE, BYK-Chemie GmbH, Dow Chemical, Momentive Performance Materials, Inc., and Solvay SA. Majority of these market players are concentrating of further improving the efficient and functionality of their product.

To remain ‘ahead’ of your competitors, get customized report – https://www.futuremarketinsights.com/customization-available/rep-gb-275

Market segmentation

Product Type

• Acrylics
• Fluoropolymers
• Urethanes
• Metallic Additive
• Others (epoxy, polyalkyds, and amines)

Formulation Type

• Solvent Based
• Water Based

Application

• Rheology Modification
• Biocides Impact Modification
• Anti-Foaming
• Wetting & Dispersion
• Others (slip & rub, flexibility, curing, and so on)

End Use Industry

• Automotive
• Architectural
• Industrial
• Wood & Furniture
• Others

Synthetic leathers are versatile in terms of application and are used in manufacturing of footwear, furnishings, garments, and luxury items. Increasing demand for synthetic leather can be attributed to mounting concerns regarding the environmental impact of natural leather and changing consumer preference towards animal free and vegan products.

Stringent animal cruelty regulation, growing awareness regarding various attributes of synthetic leather, and increasing price of natural leathers are key factors driving the market throughout the assessment period.

Superior physical and functional properties of synthetic leather over traditional leather and increasing research and development undertaken to discover cost effective alternatives to natural leather will play a key role in boosting the demand for synthetic leather, says FMI.

Automotive industry is gradually transitioning from natural leather to lightweight synthetic leather interiors. Due to increasing demand for lightweight automobiles, sales of synthetic leather are expected to growth significantly over the forecast period.

Lightweight vehicles consume less fuel and offer more mileage, thus contribute in reducing carbon dioxide emission. Research and development has identified a direct correlation between fuel economy and vehicle weight.

This has compelled automotive manufacturers towards reducing curb weight of the automobile and pushed them to adopt lightweight synthetic leather for manufacturing of vehicle seat, doors, dashboard, and steering covers.

Request Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4886

Thus top original equipment manufacturers are adopting lighter materials in vehicles, spurring the demand for synthetic leather in automotive industry.

Key Takeaways from FMI’s Synthetic Leather Market Study

• Increasing demand for vegan and bio-based synthetic leather for bags and sportswear manufacturing along with increasing sales of mobile and laptop protective covers in U.S. will assist the North America synthetic leather market to grow at 3.70% CAGR through 2031.
• Synthetic leather sales in Europe is forecast to increase at 3.60% CAGR during the assessment period, backed by booming fashion and automotive industries in Western Europe region and growing awareness regarding negative impact of leather tanning on environment among the population.
• India will offer significant growth opportunities in synthetic leather market due to increasing sales of designer footwear and stringent government regulations towards processing of natural leather.
• Argentina is forecast to lead the synthetic leather market in Latin America owing to high demand for calfskin leather alternatives, increasing export of leather products, and strong economic growth in the country.
• Japan will hold around 11% of the global market share in 2021. Sales uptick can be attributed to increasing production and export of synthetic leather from the country.

 “Gradual recovery of global economy post pandemic, rising awareness regarding animal cruelty, and focus on reducing the carbon footprint in fashion industry will fuel the demand for synthetic leather during the forecast period,” says the FMI analyst.

Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-4886

Competitive Landscape

According to FMI, the global synthetic leather market is fairly consolidated, in which leading players account for two fifth of the market value share as of 2021.  Emergence of new start-ups and regional players is expected to make market highly competitive in upcoming years.

Top market players are adopting organic growth strategies such as the introduction of new and advanced materials to strengthen their position in this evolving market. For instance, in September 2020, Gordini launched “Clutch™ Synthetic Leather” which is an excellent alternative to natural leather and is claimed to outperform traditional leather.

Natural Fiber Welding Inc. introduced its first 100% plant based leather called “Mirum” in Bio-Based Summit 2021. This synthetic leather is made from recycled cotton, hemp, natural rubber, cork and vegetable oil. This leads to reducing carbon impact by 40% and 17X less carbon emission than plastic based synthetic leather.

Manufacturers are forming strategic partnerships and collaboration to gain market advantage and survive in this highly competitive market. For instance, in 2021, Natural Fiber Welding Inc. (NFW) joined hands with San Francisco-based footwear brand Allbirds for developing bio-based synthetic leather and reduce its prices.

Allbirds invested around US$ 2 Mn in NFW to boost the production of plant based leather and eradicate fossil fuel-based materials from the fashion industry.

Prominent players operating in the synthetic leather market are:-

• Kolon Industries Inc.
• Mayur Uniquoters Ltd.
• Gruppo Mastrotto S.p.A.
• Alfatex.
• Achilles Corp.
• Teijin Limited
• Nan Ya Plastics Corporation
• Asahi Kasei Corporation
• Toray Group Kuraray Co., Ltd.
• Daewon Chemical Co Ltd.
• Leather Resource Of America Inc.
• Comfort Int’l Co., Ltd
• Sheng Hung Industrial Co. Ltd.
• Plastics Elche S.A

Ask for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-4886

 More Insights on the Global Synthetic Leather Market

In its latest report, FMI offers an unbiased analysis of the global Synthetic leather market, providing historical data for the period of 2017-2027 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material type (polyvinyl chloride, polyurethane, and bio based), application type (footwear, furnishing, automotive, clothing, bags, sports, and electronics) and across seven major regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa).

Global Chemical Testing Services Market: Overview & Analysis

A chemical testing services market is a crucial processing step for regulatory compliance and certifiers to apprehend the composition and quality of chemical materials and substances that are used in industrial processes, products, and manufacturing any end product. Moreover, a chemical testing services market requires proficiency in applying the most pertinent methodology and expert industrial knowledge. Further, various kinds of chemical analysis in chemical testing services is provided to ensure that the products are aligned with various regulations such as REACH, RoHS, and other chemical notifications. Further, for a few verticals such as agrichemical, pesticides, or pharmaceuticals, there are different chemical testing services laboratories, including the Good Laboratory Practice (GLP) and Good Manufacturing Practice (GMP).

The chemical testing services market is growing at a faster pace, as quality audits and demand recalls are receiving more publicity now than in the past, making the response to them more sensitive and urgent. With chemical testing services market providers requiring to conform to a variety of government-mandated requirements and regulatory compliances, they need to maintain strict detailed product information and quality management. In addition, special materials, production techniques, and packaging requirements force manufactures to keep stringent control over their manufacturing processes in chemical testing services market. These regulations through government and regulatory bodies are boosting the growth of the chemical testing services market.

On the basis of region, Europe is estimated to be the center market in the chemical testing services market, expected to account for 36.0% value share of the global chemical testing services market in 2017. The region continues to dominate the chemical testing services market, and is expected to continue to do so throughout the forecast period. On the basis of testing service type, the chemicals regulatory compliance chemical testing services, and the contamination detection and analysis segments are projected to exhibit CAGRs of 6.2% and 5.4%, respectively, in terms of chemical testing services market value during the forecast period. This is attributed to the increasing demand for chemical testing services certifications from top regulatory bodies such as REACH, RoHS, and others.

The chemical testing services market in North America, APAC, MEA, and Latin America are anticipated to contribute majorly to the global chemical testing services market. The market in APAC is expected to account for 28.5% share in terms of value in the global chemical testing services market, and be valued at US$ 9,704 Mn by 2025 end. The increasing demand for chemical testing services certifications and analysis from the consumer goods and manufacturing industry of Europe and APAC, especially China and Japan, is expected to fuel revenue growth of the market in the region. The chemical testing services market in North America is estimated to be valued at US$ 5,282 Mn by 2017 end, and projected to expand at a CAGR of 39.6% during the forecast period.

Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-4559

Factors such increasing demand for chemical safety and quality control, growing demand for the outsourcing of chemical testing services, increase in manufacturers and TIC providers, and partnerships to strengthen the food security approach to encourage certifications, governments are subsidizing the cost of certification, which is expected to drive revenue growth of the global chemical testing services market.

The global chemical testing services market is segmented on the basis of service type, sample type, end use, and region. By sample type, the chemical testing services market is segmented into agrochemicals & pesticides, basic & industrial chemicals, dyes & detergents, lubricants & greases, nanomaterials, petrochemicals, polymers & plastics, and specialty chemicals. Moreover, by end use, the chemical testing services market is categorized into consumer goods, environmental, and manufacturing. Key regions covered in the report are North America, Latin America, Europe, APAC, and Middle East & Africa.

The chemical testing services market report analyses the global chemical testing services market in terms of value (US$ Mn) by testing service type, sample type, end use, and region; and provides insightful information regarding the segment analysis, market trends, competitive landscape, market dynamics, market estimations, and forecast.

Chemical Testing Market: Companies

Key chemical testing services market participants covered in this report include Intertek Group Plc, Bureau Veritas, SGS SA, TÜV NORD AG, UL LLC, SAI Global Limited, SCS Global Services, TÜV Rheinland Group, MISTRAS Group, Dekra SE, BSI Group, Eurofins Scientific, and others.

Ask for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-4559

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Website: https://www.futuremarketinsights.com