Market Research Blog – Page 14502 – New Product Development

Propanol Market to Witness Improved Sales of Pharma-and Electronic-grade Isopropanol, Projects FMI Report

Growing utilization of propanol as a direct solvent in paints and coatings, household & industrial cleaners, and others is expected to pave the way for its robust sales during the projected timeline. This is the main factor as to why the global propanol market is estimated at US$ 3,099.4 Mn in 2022, and is projected to experience steady growth during the forecast period of 2022-2029. East Asia will see the most opportunities for manufacturers over the period of forecast, with pharma- and electronic-grade isopropanol experiencing increasing sales.

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Key Takeaways from Global Propanol Market

In the coming years, as compared to isopropanol, n-propanol is expected to register a slight increase in demand, owing to new laws and regulations regarding the usage of low-VOC-emitting chemicals in pharmaceutical and food processing applications.
Pharmaceutical and electronic-grade isopropanol is likely to be sought after in the future, owing to the growth of pharma and semiconductor industries. Worldwide, propanol used as a direct solvent across various industries is projected to account for a prominent share in the global propanol market.
Growth prospects are high in emerging markets such as India, China, and Mexico. Companies are focusing on different strategies in order to ensure good presence in both, emerging and matured markets. Since there are limited opportunities for propanol manufacturers in developed regions, manufacturers in the propanol market are focusing on emerging markets to capture a larger share in the landscape.

“Volatility in petroleum feedstock prices as well as propylene prices may impact the future price of propanol as well as market growth. Increasing cost of propylene is encouraging manufacturers to adopt acetone-based isopropanol production, especially in Asian countries. Acetone-based propanol production increased from 2% to 25% from 2002 to 2018 in Asian countries,” says an FMI analyst.

The implementation of new technologies or methods over conventional methods, and production capacity expansion and footprint expansion, remain the key strategies followed by propanol manufacturers to enhance productivity and capture new opportunities in the propanol market.

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East Asia Set to Become Self-sufficient in Propanol

In the year 2012, the capacity base of propanol in East Asia surpassed that of North America, primarily following the start of several new facilities in China and South Korea. During the period of 2010-2018, massive addition in capacity has made China a prominent producer in Asia Pacific. In China, future import volumes are expected to decline as the country moves towards self-sufficiency. Globally, oversupply of propanol has constricted its growth and demand. At present, the total global production capacity of propanol stands at around 3,400 KT, with approximately 60% utilization rate.

Looking for More Information?

A new market report on propanol published by Future Market Insights brings to the fore a pin-point analysis of the propanol market, and offers comprehensive information with historical demand data for 2014-2021 and forecast statistics for 2022-2029. The study offers insightful information on the global propanol market based on various categories – type (n-propanol, isopropanol), application (solvents, chemical intermediates, pharmaceuticals, household & personal care products, and others), across seven regions. This study highlights key market players who are well-known vendors and have proven themselves as key shareholders in the global propanol market. Some of the propanol market players included in the report are BASF SE, Royal Dutch Shell Plc, ExxonMobil Corporation, Sasol, LG Chem Ltd., and Eastman Chemical Company, among others.

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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.

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Increasing Demand Of Soft Magnetic Composites In Electronics Industry Is Fueling The Growth Of The Market

Soft magnetic composites (SMCs) are used extensively in the automotive industry for their ferromagnetic properties. Majorly driven by this, global soft magnetic composites market is projected to exhibit a robust CAGR during the forecast period of 2022-2029, reaching a value of US$ 80 Bn in 2029. Correct SMC combination provides a technology that consumes less energy, is optimally efficient, and capable of use in extreme frequencies and temperatures.

High demand is witnessed from the automotive industry for electronic components such as motors, inductors, and other electronic machines that enhance reliability and efficiency. Moreover, the industry demands space reductions of components such as inductors that capture a lot of space. As a result, efforts to attain balance between working efficiency and smaller dimensions, have propelled the use of soft magnetic materials such as soft magnetic composites.

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Key Takeaways

Demand for electrical steel segment is expected to grow at a healthier rate. Its market share is anticipated to increase owing to application in different end-use industries, along with cost-effective nature of the material.
5P type, though most expensive, is prominently used in the power generation industry. As the demand for this segment is increasing, SMC manufacturers are under high pressure to reduce its price.
The Asia Pacific region holds a prominent share of soft magnetic composites market owing to the constantly increasing presence of strong electronic and automotive sector in countries such as China, India, ASEAN Countries, and Japan.
East Asia is projected to be a hub for electronic industry, countries such as China, are anticipated to be at the epicenter of opportunities in the electronic industry.
Soft magnetic composites are increasingly gaining traction within the 3D-printing technology space.

SMC are advantageous as they offer the possibility of developing three dimensional shapes with complex geometry in extreme conditions, along with being cost effective and energy efficient. Moreover, acceptance of new technologies in automotive and consumer (electronics) goods industry such as 3D printing has paved a path of new opportunities for soft magnetic composites market.

Market Landscape Moving towards Consolidation

The soft magnetic composites market is highly consolidated owing to the prominence of handful of players with extensive R&D capabilities. Key manufacturers in the tier I such as GKN Powder Metallurgy (Melrose PLC) and Hitachi Metals Ltd. are pushing towards consolidation by opting for growth strategies such as acquisitions, joint ventures, and others.

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Soft Magnetic Composites Market Taxonomy

Material

Electrical Steel
Soft Ferrite
Iron Powder

End Use

Automotive
Industrial Machinery & Equipment
Consumer Goods
Power Generation
Others

Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

Know More About Report Inclusions

Future Market Insights has published a market research report on the soft magnetic composites market that contains global industry analysis for 2014–2021 and opportunity assessment for 2022–2029. The report provides insightful analysis of the Soft magnetic composites market through three different segments, namely material, type, application, end-use industry, and region. The soft magnetic composites market report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world along with a detailed overview of the parent market.

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Demand for Synthetic Quartz on Upswing with Expansion of Electronics & Semiconductor Industry; Quartz Crystal Gaining Traction

The global market value of synthetic quartz is nearly US$ 98 Mn, and the electronics industry accounts for more than 3/4^th of total sales. As suggested by a new Future Market Insights (FMI) study, the global synthetic quartz market is set for notable growth during 2022 – 2029.

The electronics industry solely relies on components such as semiconductors, optical fibers, and solar cells. These electronic components utilize synthetic quartz crystal due to its important intrinsic properties. Technological developments are driving the need for high-performance electronic equipment, and have subsequently propelled the sales of synthetic quartz.

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Key Takeaways – Synthetic Quartz Market Report

Synthetic quartz crystal is expected to grow at a higher rate, increasing its market share on account of growing use in end-use industries during the forecast period.
The semiconductor industry places the most stringent requirements on quartz purity, creating positive impact on demand for synthetic quartz.
East Asia holds a prominent share of the synthetic quartz market due to presence of strong electronics and automotive sectors in countries such as China, South Korea, and Japan. China is one of a major producers and exporters of electronics. Moreover, it has good production to sales ratio (appx. 98%) for electronics. South Korea has a significant share in the global automotive sector.
Synthetic quartz and competitive products are gaining more attention from EUV lithography market players.
Developing countries have witnessed growth in per capita income, especially in rural areas. Ease of buying electronic appliances has driven the growth of synthetic quartz components in developing countries.

Rising adoption of new technologies in electronics & communication and rapid evolution of automotive industry is expected to fuel the growth of global synthetic quartz market.

Market Landscape Moving towards Consolidation

The synthetic quartz market is highly technology-driven and is dominated by a handful of players with extensive R&D capabilities. Tier-I manufacturers in the global synthetic quartz market, Kyocera, Murata Manufacturing, Hereaus (Shin-Etsu), Asahi Glass Company, and others are focusing on joint ventures, partnerships, and collaborations to build on their product expertise and enhance market dominance.

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Synthetic Quartz Market Taxonomy

By Product

Synthetic Quartz Crystal
Synthetic Quartz Glass

By End-Use

Electrical & Electronics
Automotive
Medical
Military
Construction
Others

By Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
MEA

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Interested in Learning More About Report Inclusions?

Future Market Insights has published a market research report on the synthetic quartz market that contains global industry analysis for 2014–2021 and opportunity assessment for 2022–2029. The report provides insightful analysis of the synthetic quartz market through three different segments- product type, end-use industry, and region. The synthetic quartz market report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, along with a detailed overview of the parent market.

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Vapour Barrier Sales to Grow at 4.4% CAGR Through 2029, Polymers Remain Preferred Material: FMI Study

Sales of vapour barriers are projected to witness steady rise in the following years, prominently propelled by sustained consumption by the building & construction industry. As suggested by a new Future Market Insights (FMI) report, global vapour barrier market will exhibit a CAGR of around 4.4% during the forecast period of 2022-2029.

Water condensation can damage the sturdiest of constructions, which is why vapour barriers hold significant importance, as they offer complete insulation from vapour and moisture to building structures. Use of vapour barriers also allows for optimum efficiency of a space conditioning system, thereby fueling their demand across the construction industry.

Heavy usage of vapour barriers in commercial and residential buildings to prevent moisture damage to infrastructure is anticipated to be the primary growth driver. However, increasing utilization of vapour barriers in the packaging industry to prevent moisture damage and interstitial condensation in packed goods opens new growth avenues for industry players.

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Key Takeaways – Vapour Barrier Market Study

Over the period of projection, building infrastructure, whether private/public or commercial/residential, will be based on green building concepts to strike a fine balance of environmental sustainability and modern amenities. As a result, the demand for vapour barriers is projected to significantly spur over the forecast period.
Polymer materials segment to retain its spot as a prominently preferred material followed by asphalt & bitumen, whereas drywall board lumber and gypsum board projected to observe growth at a swift pace in the market.
Membrane type vapour barriers are expected to register a dominating share due to their easy installation. However, the popularity of the coating segment is increasing across the globe in recent years due to its enhanced moisture resistance.
To meet stringent manufacturing rules and regulations, manufacturers are trying to increase the use of materials with high recyclability and decent biodegradability index. Also, due to new norms for VOC emissions, many manufacturers are looking to revamp their manufacturing process in order to minimize these emissions.

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How is Vapour Barrier Market Structure Defined?

The market of vapour barrier is highly competitive due to decent presence of tier 1 players in the market. Though tier 1 market players have a considerable hold on market share, numerous small-scale and regional players exist in the market. Manufactures like The Dow Chemical Company and Saint Gobain, along with other organised and leading manufactures hold more than half of the market pie.

More About What the Report Covers

Future Market Insights (FMI), published a thorough research analysis in its report for global vapour barrier market, offering information regarding historical developments from 2014-2021 and forecast projections and opportunity assessments on the basis of analysis for future scope and ongoing tends in the global market. The research study offers opportunity roadmap and market projections across the globe based on various categories such as material (glass, sheet metal, polymer, asphalt & bitumen, gypsum board, drywall/board lumber, plywood, concrete/brick), type (membranes, coatings, cementitious water proofing, and stacking & filling), site (external, internal), application (corrosion resistance, insulation, air insulation, sound insulation, thermal insulation, water proofing, material packaging & stacking, microbial & fungal resistance), end use (construction, packaging, automotive), and region (North America, Latin America, Europe, MEA, South Asia, East Asia, and Oceania).

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Mono Propylene Glycol Market Revenues to Surpass US$ 5 Bn by 2029, Bio-based MPG Gaining Traction: FMI Study

Mono propylene glycol (MPG) continues to find application across diverse industries, on the back of its low toxicity and hygroscopic properties. A recent Future Market Insights (FMI) study suggests that the global mono propylene market value will reach US$ 5,159.5 Mn towards the end of 2029, witnessing a moderate CAGR during forecast period (2022 – 2029). Environmental sustainability of bio-based mono propylene glycol will be significantly responsible in upholding its demand in the global market over the course of following years.

Key Takeaways – Mono Propylene Glycol Market Study

Low toxicity of mono propylene glycol, as compared to ethylene glycol, is expected to drive its usage in cosmetics and personal care products on a large scale. As ethylene glycol is poisonous and must be handled with caution to restrict any human or animal exposure, MPG will witness higher demand in the forecast period.
Being the preferred glycol for manufacturing high performance, unsaturated polyester resins for several uses such as reinforced plastic laminates for marine construction, gel coats, sheet molding compounds (SMC), and synthetic marble casting, industrial grade mono propylene glycol is projected to witness significant demand. It is also a vital intermediate in the production of alkyd resins for paints and varnishes.
Substantial demand is anticipated for mono propylene glycol from the pharmaceutical industry as it is a well-known excipient. MPG is used for several purposes in a broad range of pharmaceutical dosage forms, for e.g. as a humectant in topical medication, as a preservative in solutions, or as a co-solvent in aerosols, parenteral, and oral solutions.

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Manufacturers in the mono propylene glycol market can gain substantial profits by targeting long-term supply contracts from prominent end-use industries such as food & beverage, pharmaceutical, building construction, and others, across various developing countries such as India and China.

Manufacturers Moving towards Bio-based Mono Propylene Glycol

Bio-based mono propylene glycol is gaining popularity in the market, as a switch from petrochemical- to renewable-based MPG results in the reduction of climate change impact of 40-60% kg of CO2. Several countries are taking initiatives to increase the adoption of bio-based mono propylene glycol among various end-use industries owing to its significant environmental benefits.

Who Is Winning?

The global mono propylene glycol market is fairly consolidated due to the unavailability of raw materials required for the manufacturing of mono propylene glycol, especially at the regional level, and absence of local manufacturers. Key manufacturers such as Dow Chemical Company, LyondellBasell, BASF SE, and Royal Dutch Shell PLC account for about 40% of the overall market share. North America and Europe are anticipated to account for a significant share of the global mono propylene glycol market, owing to rapid infrastructural development and increasing preference for bio-based mono propylene glycol.

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MONO PROPYLENE GLYCOL MARKET TAXONOMY

The global mono propylene glycol market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Grade

Technical
Food
Pharmaceutical

Application

Unsaturated Polyester Resin (UPR)
Polyester Fiber Production
Food Additive
Heat Transfer Fluid
Pharmaceutical Solvent
Liquid Detergent
Paints & Coating
Other Industrial

End Use

Chemicals
Cosmetics & personal care
Pharmaceutical
Food & Beverage
Others

Source

Synthetic
Bio-based

Region

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East
Africa

North America Leading, with High Demand from Animal Feed Industry

The demand and sales of mono propylene glycol remain significant in North America, despite the presence of stringent regulatory framework. The region accounts for more than one-fourth revenue share of the global market. Leading players in the North American market are targeting animal feed manufacturing companies to boost their sales in the region. While developed markets continue to lead the curve with high consumption of mono propylene glycol, sales in East Asia will also increase at a significantly high CAGR over the next decade.

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Demand in the Oil & Gas Pipeline Coatings Market is projected to grow at a value of 5.6% CAGR between 2022 and 2029

Witnessing robust expansion over 2022 – 2029, the global market for oil & gas pipeline coatings will reach the revenues worth US$ 6,958.0 Mn towards 2029 end. Growing offshore exploration and production activities, stabilizing crude oil prices, rise in cross-country pipeline projects and rehabilitation of existing pipelines are some of the key factors that would majorly account for increasing demand for oil & gas pipeline coatings in the market.

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Oil & gas Pipeline Coatings Market Key Takeaways

Fusion bonded epoxy (FBE) coatings, attributing to their low coefficient of friction and low permeability, create a tight barrier that prevents permeation of cold and hot liquids. This property would continue to position them as a preferred choice for oil & gas pipeline coatings.
The Asia Pacific region, which has more than 10,000 miles of pipeline under construction and further over 9,750 miles of planned pipeline projects, is likely to reflect robust growth opportunities facing players operating in the oil & gas pipeline coatings market.
With crude oil prices recovering, investments in the oil & gas industry are projected to rise by 6% between 2017 and 2025. These will fuel exploration & production activities around the world, propelling oil & gas pipeline coatings demand.
In the upstream segment, although onshore sector constitutes most of the market share, offshore sector, driven by increasing investments, is estimated to witness robust growth in the oil & gas pipeline coatings market.
Stringent regulations pertaining to volatile organic compound (VOC) emissions are anticipated to impede the growth of solvent-based oil & gas pipeline coatings, which are prone to VOC emissions during the drying process.

Pipe laying in deep waters or high operating temperatures, and increasing corrosive properties of flow materials have been driving advancements in pipeline coatings. These advances such as thermal insulation will bring forth a range of new technological frontiers in the pipeline coatings space in the near future.

Market Landscape Moving towards Consolidation

The oil & gas pipeline coatings market is technology driven and remains dominated by a handful of players that possess extensive R&D capabilities. Leading players operating in the global oil & gas pipeline coatings market, Akzo Nobel N.V., PPG INDUSTRIES, Sherwin-Williams Company, Axalta Coating Systems, RPM International Inc., and BASF SE, are focusing on acquisitions of smaller and technology-driven paint & coating manufacturers to build on their product expertise and enhance market positioning.

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What Does Future Hold?

Crude oil prices are extremely volatile in nature, affected by growing U.S. oil & gas production, OPEC production cuts, and oversupply of crude oil. Considering the number of pipeline projects in the construction phase and older, existing pipelines in need of reconditioning, the oil & gas pipeline coatings market is projected to witness robust growth during the forecast period.

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Future Market Insights has published a market research report on the oil & gas pipeline coatings market that contains global industry analysis for 2014–2021 and opportunity assessment for 2022–2029. The report provides insightful analysis of the oil & gas pipeline coatings market through four different segments, namely coating type, formulation base, application, and region. The oil & gas pipeline coatings market report also provides demand trends of different coating types across three industry verticals, a comprehensive list of service providers in the market, various pipeline coating projects around the world along with a detailed overview of the parent market.

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Ceramic and Plastic Mass Finishing Consumables to Account for 70% of Overall Consumption, Finds FMI

Sales of mass finishing consumables are primarily driven by the increasing demand for surface finishing from various end-use industries such as automotive, aerospace, and general and industrial engineering. As indicated in a new Future Market Insights (FMI) study, the global mass finishing consumables market is estimated to be valued at US$ 206.8 Mn by the end of 2022, demonstrating moderate growth at a less than 5% CAGR during the forecast period, 2022 – 2029.

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Key Takeaways – Global Mass Finishing Consumables Market

Non-metallic abrasives provide more contact area during finishing process than metallic ones, thus enabling the dimensions of parts to stay intact. Furthermore, non-metallic abrasives are best suited for both wet and dry applications. This leads to growing preference for non-metallic abrasives (ceramic, plastic, and porcelain) over metallic abrasives (such as steel).
Ceramic and plastic mass finishing consumables are estimated to account for more than 70% of total mass finishing consumables worldwide.
Plastic mass finishing consumables are generally recommended for use with softer metals, such as aluminum, brass, and zinc.
Use of fixtures is an upcoming trend. This process increases flow of media onto component surface, thereby contributing to an increased finishing action.

New entrants in the global mass finishing consumables market can benefit by penetrating emerging economies in East Asia, where substantial growth is seen in the manufacturing sector.

Implementation of digitization and automation technologies over conventional technologies in the production line, product innovation, and footprint expansion remain key strategies followed by mass finishing consumables manufacturers to enhance productivity and to capture new market opportunities.

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Reducing Third-party Dependence for Finishing Services to Propel Market Growth

Sustainable growth of investment in the manufacturing sector is expected to play a key role in driving the growth of the mass finishing consumables market across the globe. From the perspective of end-use industries, surface finishing is used in almost in every industry for cleaning and refurbishing metallic and non-metallic parts. End users are dependent on third-party service providers, which increases production cost and negatively impacts profitable margins. The high cost involved influences such end users to opt for in-house surface and finishing technologies and to enhance productivity along with reducing cost and time.

Interested in More Information?

A new market report on mass finishing consumables published by Future Market Insights brings to the fore a pin-point analysis of the market, and offers comprehensive information with historical demand data for 2014 – 2021 and forecast statistics for 2022 – 2029. The study offers insightful information on the global mass finishing consumables market based on various categories – media type (ceramic, plastic, steel, aluminium oxide, and others), application (deburring, pressure deburring, grinding, polishing, and ball furnishing, among others), and end-use industry (automotive, aerospace, machine tooling, general manufacturing, construction, healthcare, and jewellery & accessories), across seven regions.

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Demand for Viscosity Index Improvers to be Sustained by High-quality Engine Oil Sales, Reports FMI

Increasing demand for high-performance lubricants with optimum viscosity has been a vital factor pushing consumption of viscosity index improvers. Although the global market for viscosity index improvers has been projected to US$ 4,699.3 Mn mark by 2029 end, the overall growth outlook would remain sluggish.

Consistently soaring consumption of vehicle lubricants such as engine oil, transmission fluids, and break oil by OEMs and aftermarket operators will continue to significantly contribute to the growth of viscosity index improvers market.

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Viscosity Index Improvers Market Key Takeaways

The demand for lubricants is estimated to reach 40 Mn Tons by the end of 2019.
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.

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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.

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.

What the Report Offers

In its newest market study, Future Market Insights provides decisive analysis on the global viscosity index improvers market and provides significant insights through schematized market research. The report offers in-depth market study of the historical performance from 2014 to 2021, along with forecast statistics for 2022 to 2029. The market study offers comprehensive insights on various aspects of viscosity index improvers market based on product type (Polymethylacrylates, Ethylene Propylene Copolymers, Polyisobutylene, Hydostyrene Diene Copolymer, Others) and application (vehicle lubricants, industrial lubricants, transmission fluids) across the seven regions.

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Vulcanization Accelerators Market | East Asia to Represent Significant Opportunities for Manufacturers

The latest study published by Future Market Insights (FMI) on the vulcanization accelerators market incorporates the global industry analysis for 2014 – 2021 and market opportunity assessment for the forecast period of 2022 – 2029. The market study divulges decisive insights and offers exhaustive market analysis for the historical as well as forecast period. As per the market assessment in the report, the global vulcanization accelerators market is estimated to witness substantial growth due to growing demand from the tire industry.

The global vulcanization accelerators market is estimated to be valued at US$ 1,708.1 Mn in 2022 and is anticipated to grow with 4.3% CAGR during the forecast period i.e., 2022 – 2029.

Tire is an irreplaceable automotive component, and its demand has been on the rise over the years. As tires of heavy vehicles need to be replaced more frequently, the industry is responsible for the maximum consumption of vulcanization accelerators. Thus, growing tire production and replacement activities are estimated to fuel the growth of the vulcanization accelerators market, as reported by FMI.

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Apart from tires, rubber is also used in other automotive parts such as wiper blades, engine mounts, seals, hoses, and belts. Growing automotive production will elevate the manufacturing of automotive rubber parts and components. Thus, increasing the consumption vulcanization accelerators.

Rubber is used extensively in industrial products such as rubber belts, rubber buckets, rubber pads, rubber lining, rubber rollers, and rubber mats, among various other products. Apart from these, rubber finds key application in the manufacturing of medical products such as condoms, surgical gloves, stoppers, tubes, cushioning or supporting materials, breathing bags, implants, prosthetics and catheters, etc. Thus, growing rubber consumption in medical and industrial sectors is estimated to surge the demand for vulcanization accelerators.

East Asia to Represent Significant Opportunities for Manufacturers

Japan and China are few of the leading tire manufacturing countries. China is assessed to be a prominent tire producer. Presence of companies such as Yokohama Rubber Company and Bridgestone Corporation, makes Japan a substantial tire manufacturing country. In addition, China’s auto industry has witnessed significant growth in the recent years, leading to subsequent increase in the tire production. However, fluctuating raw material prices due to trade wars and oversupply of materials are affecting local manufacturers. Besides, imposition of stringent regulations on tire exports from European countries and the U.S is expected to create further problems for tire manufacturers. However, East Asia is estimated to be a prominent market for vulcanization accelerators, due to increasing sales of passenger and commercial vehicles and rising demand for replacement tires. Increasing population, improved standards of living, and increasing electric vehicle production will upsurge the demand for tires in East Asia, which will positively influence the growth of the vulcanization accelerators market. Further, increased emphasis on high quality medical and industrial rubber products is expected to propel the demand for vulcanization accelerators in the region.

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Thiazoles and Sulfanamides to Remain Prominent Product Choices

The global vulcanization accelerators market has been categorized on the basis of product and application, along with regions.

Based on product, primary accelerators – thiazoles and sulfonamides, are projected to remain prominent product choices in the upcoming years, and are expected to hold a significant share in the global vulcanization accelerators market throughout the forecast period.
Although adoption in automotive industry continues to account for relatively high sales, growing application in industrial sector is likely to result in increased market share. Growing tire production and replacement activities as well as automotive industry growth are estimated to augment the vulcanization accelerators market growth.

Key Segment

Product

Thiozoles
Sulfanamides
Dithiocarbamates
Thiuram
Others

Application

Automotive
Industrial
Medical
Consumer Goods

Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa
Emerging Countries

Vulcanization Accelerators Market: Manufacturer Insights

According to the FMI analysis, the global vulcanization accelerators market is moderately consolidated with global and regional players playing key roles. The global vulcanization accelerators market report shades light on few of the key industry players in the global market. Some of the examples of key players in the market are Lanxess AG, Arkema, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., NOCIL Limited, and Kumho Petrochemical, among others.

FMI study finds that the automotive industry slowdown in the past few months has changed the situation. However, government initiatives, tax cuts, and subsidies will continue to drive the growth of the automotive sector, and subsequently of the vulcanization accelerators market. Also, the increasing demand for vulcanized rubber in the manufacturing of industrial & medical rubber goods is expected to raise the demand for vulcanization accelerators.

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Lithium and Lithium Ion Battery Electrolytes Market to Amp Up with Significant Inclination towards Electric Mobility

A new research by Future Market Insights on the lithium and lithium ion battery electrolytes market includes global industry analysis for 2014-2021 and opportunity assessment for 2022-2029.

The report explores the lithium and lithium ion battery electrolytes market and provides the reader analytical insights for the forecast period of 2022-2029. As per the findings of the report, the global lithium and lithium ion battery electrolytes market is projected to experience steady growth over the forecast period, due to multiple driving factors, such as increasing battery applications in automotive and consumer electronic manufacturing activities across geographies.

Ascending sales of electric vehicles in recent times has been working to the advantage of the lithium and lithium ion battery electrolytes market players. In order to win in the innovation game, manufacturers are continuously leveraging newer materials and novel technologies, according to the FMI’s analysis.

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The global lithium and lithium ion battery electrolytes market value in 2022 is estimated at US$ 4,215.2 Mn, and is expected to increase at a CAGR of 13.2% over the forecast period of 2022-2029. This progress in the market is majorly propelled by the growing consumption of lithium and lithium ion battery electrolytes as battery material for electric vehicles and electronics such as laptops, cameras, and personal digital assistants, among others. The power and energy industry has started using electrolytes for energy storage plants in multiple areas, increasing the usage of electrolytes for powering general industrials such as forklift, cement mixers, and air filters, among others.

China’s Market Attractiveness Rising

Although regions such Europe and North America are anticipated to hold significant market shares in the future, currently, the lithium and lithium ion battery electrolytes market growth is expected to be spearheaded by China, Japan, and South Korea.

Moreover, macroeconomic factors such as increment in GDP, consumer electronics, and automotive fleet as well as new production, increasing specialty chemical industry, and overall growth in the manufacturing sector are expected to reflect significant increase in opportunities in Asia Pacific. As a consequence, the growing automotive and consumer electronics industry is expected to increase the usage of lithium and lithium ion battery electrolytes significantly.

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Extensive Usage in Consumer Electronics and Automotive Industries

The lithium and lithium ion battery electrolytes market is segmented in four different segments, which are product, form, end use, and region.

By form, the liquid electrolytes are expected to hold a prominent share over the forecast period of 2022-2029.
By product, lithium-based electrolytes are consumed on a greater scale as compared to their counterparts including sulfide-, polymer-, and oxide-based electrolytes.
In terms of end-use, consumption of lithium and lithium ion battery electrolytes by the automotive industry is expected to account for relatively high sales, due to its growing application in batteries for electric vehicles. Increasing preference for greener modes of transportation, i.e., electric vehicles, has led to increasing production of electrolyte-powered batteries for these electric vehicle, thereby fueling the growth of the lithium and lithium ion battery electrolytes market.

Key Segment

Form

Liquid
Solid
Gel

Product

Lithium-Based
Sulfide-Based
Polymer-Based
Oxide-Based
Others

End Use

Automotive
Consumer Electronics
Power & Energy
General Industrial

Region

China
Japan
South Korea
U.S.
Rest of the World

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Lithium and Lithium Ion Battery Electrolytes Market: Key Players’ Insights

This lithium and lithium ion battery electrolytes report focuses on few key market players, some of these have come out as market leaders. Few examples of such manufacturers in the lithium and lithium ion battery electrolytes market are as follows:

Shenzhen Capchem Technology Co Ltd, Shanshan Technology, Soulbrain MI, Guangzhou Tinci Materials Technolgy Co., TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD., GuangDong JinGuang High-Tech Co., Ltd, PANAX-ETEC, UBE Industries, and Zhangjiagang Guotai-Huarong New Chemical Materials Co., Ltd.

The global lithium and lithium ion battery electrolytes market is highly consolidated with few players being prominent in the lithium and lithium ion battery electrolytes market under their trademarked names such as Sol-Rite™, POWERLYTE®, NANOMYTE® Series, and LMP® battery, among others.

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