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According to Future Market Insights, an increasing consumption of PP homopolymer in the packaging industry along with a high growth of the retail sector is likely to boost the demand for PP homopolymer and subsequently drive market growth over the forecast period. PP homopolymer plays a major role in decreasing carbon emissions from vehicles and manufacturers around the world are increasingly using PP homopolymer in vehicle production to comply with various government and environmental regulations regarding the reduction of carbon emissions from vehicles. Use of PP homopolymer in automotive applications leads to reduced weight of the vehicle, consequently increasing its fuel efficiency.  This is another factor fuelling the growth of the global PP homopolymer market. In order to capitalise on the opportunities in the market, market players are introducing new grades of PP homopolymer for various new applications to increase their market share in the global market.

However, in the last few years, automobile OEMs have been switching from PP homopolymer to PP copolymer and aluminium for manufacturing specific vehicle parts as PP copolymer and aluminium provide better toughness and durability than PP homopolymer. This is likely to restrict the growth of the global PP homopolymer market over the forecast period.

Segmentation highlights

The global PP homopolymer market is segmented on the basis of processing technology into Injection Moulding, Film, Other Extrusion, Fibre, and Others (blow moulding, sheet etc.); and on the basis of end use into Packaging (Flexible Packaging, Rigid Packaging), Electrical and Electronics, Textile, Automotive, Building and Construction, and Others.

• The Injection Moulding processing technology segment is anticipated to hold the largest market value share throughout the forecast period and is expected to create total incremental opportunity of US$ 14.62 Bn between 2016 and 2026
• The Packaging end use segment is estimated to dominate the global PP homopolymer market throughout the forecast period due to high demand in North America and Western Europe. This segment is expected to create total incremental opportunity of US$ 15.16 Bn by the end of 2026

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Regional analysis

The global PP homopolymer market is segmented into the seven key regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). The APEJ regional market is estimated to dominate the global PP homopolymer market in terms of value and register a CAGR of 5.8% over the forecast period. The MEA homopolymer market is anticipated to witness a CAGR of 5.4% during the forecast period, making MEA the second largest market in terms of CAGR.

Vendor insights

The global PP homopolymer market report features some of the top companies operating in this market. LyondellBasell Industries, Braskem S.A., The Dow Chemical Company, Reliance Industries Limited, L.C.Y. Chemical Corporation, Total Petrochemicals USA Inc., IRPC Public Company Limited., Sasol Limited., National Petrochemical Industrial Company, and The Polyolefin Company (Singapore) Pte Ltd. are the companies profiled in the report. Global manufacturers are introducing new grades of PP homopolymer in order to meet different technical and regulatory requirements for various end-use industries.

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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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Renewable methanol is a second generation biofuel and is derived from renewable sources such as biomass, industrial waste, municipal waste, and industrial CO₂. Renewable methanol is used as a transportation fuel after blending it with other chemicals. The main reason for the rise in demand for renewable methanol as a fuel is the implementation of regulations especially in Europe and North America that over 10% of the transport fuel should come from renewable sources by the end of 2020. Renewable methanol that is produced through the gasification process and using biomass is used as a liquid motor fuel as it has a high hydrogen to carbon ratio due to its high octane rating. Moreover, the use of renewable methanol is expected to reduce greenhouse gas emissions by over 15%-20% as compared to other fuels. Another major advantage of renewable methanol is that when produced using industrial waste and municipal waste, it reduces the waste content and converts it to usable energy.

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Environmental pollution from CO₂ emissions and import of crude oil for fuel has resulted in the adoption of renewable energy sources. Thus, reduction of agricultural waste and conversion of municipal solid waste into syngas and further into renewable methanol can offer lucrative growth opportunities for key players operating in the global renewable methanol market.

Segmentation highlights

On the basis of primary source, the global renewable methanol market can be segmented into biomass, industrial waste, municipal waste, and others; and on the basis of end-use application into formaldehyde, MTBE, gasoline, dimethyl ether, solvents, and others.

• The biomass primary source segment is expected to hold significant share in the global renewable methanol market and is estimated to register the highest CAGR of 7.0% in terms of value over the forecast period. The segment is expected to create incremental opportunity of US$ 53.7 Mn during 2016–2026
• The MTBE end-use application segment is anticipated to register the highest CAGR of 8.1% in terms of value between 2016 and 2026. This segment is expected to gain traction over the forecast period due to increasing demand for fuel blends from the automotive industry

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Regional market projections

The global renewable methanol market is segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. APEJ is expected to register the highest CAGR in terms of value over the forecast period. Australia and China are highly focussed on using renewable methanol as a fuel blend. The Philippines and Myanmar have also passed various policies mandating the use of fuel blended with renewable methanol by the end of 2020. North America is estimated to account for 26.1% value share of the global renewable methanol market by the end of 2016 and is projected to dominate the global market throughout the forecast period.

Vendor insights

The report features some of the top companies operating in the global renewable methanol market. Leading market players profiled in the report are BioMCN, Methanex Corporation, Enerkem, Chemrec Inc., Carbon Recycling International, and VarmlandsMetanol. These players have adopted the strategy of signing long-term supply agreements with feedstock suppliers and end-use customers to maintain continuous supply of renewable methanol. Moreover, these companies are also focussing on the transport sector as this sector is expected to offer lucrative opportunities over the forecast period.

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Key segmentation

By Primary Source

• Biomass
• Municipal Waste
• Industrial Waste
• Others

By End-use Application

• Formaldehyde
• MTBE
• Gasoline
• Dimethyl Ether
• Solvents
• Others

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

The paints industry is gradually shifting away from traditional whitewash paints. The underlying focus on consumer centricity has been encouraging paints manufacturers to explore better quality alternatives. Consequently, the demand for low VOC and water based paints is on the rise.

The COVID-19 pandemic has impacted the global economy at various levels and the impact has also been seen on paints and coatings industry.  The decorative paints market growth is projected was negatively affected during the pandemic crisis, resulting in significant drop in demand during 2020 – 2021.

Nonetheless, recovery of construction activities and gradually surging demand in the real estate will create a conducive environment for the expansion of the decorative paints market.

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As per FMI, the East Asia market is expected to remain a key manufacturer as well as consumer of decorative paints owing to significant growth in the construction sector, especially in China. Backed by the aforementioned factors, the global decorative paints market is projected to top US$ 87.8 Bn by 2031.

“Local and foreign investments in the emerging economies of Asia for catering to construction demand have been increasing. This is in turn fuelling the demand for decorative paints. Consumption of decorative paints especially for interior applications will continue increasing as focus on improving interior décor grows across the globe,” says an FMI analyst.

Key Takeaways:

• Water based decorative paints will replace the solvent based paints due to their comparatively better performance characteristics over the latter. The segment is expected to witness a growth 4.4% CAGR over the coming decade.
• Interior application of decorative paints is projected to account for more than 75% of the market share in 2021 in Europe.
• By formulations, emulsion segment is estimated to witness a year-on year growth of 3.7% in 2021.
• Sales of decorative paints in the U.S. are estimated to grow by a CAGR of 4.3% during the assessment period.
• India is expected to emerge as an attractive decorative paints market, with sales expected to grow by 5.2% CAGR over the coming decade.
• China is expected to account for about 70% of the East Asia decorative paints market share in 2021.
• Japan and South Korea to collectively account for about 8.8% of the total decorative paints industry share by 2021 end.

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Competitive Landscape         

Key participants in the global decorative paints market elaborated in the report includes Azko Nobel, Sherwin Williams Company, Asian Paints Ltd., Nippon Paints, Valspar Corporation, Jotun, BASF-SE, RPM International Inc., KANSAI Paints Co., Ltd. and Berger Paints.

The decorative paints industry is oligopolistic with a few big players constituting a larger portion of the sales. It also have higher barriers to entry in distribution networks and brand equity. Key players are focusing on mergers and acquisitions strategies to boost their market presence.

Some of them are even focusing on product development by investing a considerably in research and development. Others are focusing on increasing the production capacity to improve their annual turnover. For instance:

• Eastman Chemical plans to invest for a significantly increase in its capacity to produce tertiary Decorative Paints (DIMLA) at its facility in Ghent, Belgium, by the end of 2021.

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More Insights into the Decorative Paints Market Report

In its latest report, FMI offers an unbiased analysis of the global decorative paints market, providing historical data for the period of 2016-2020 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 product type (water based paints and solvent based paints), formulation (emulsion and distemper), applications (interior and exterior), sales channel (offline and online) and price (premium, medium and economical) across six regions (North America, Latin America, Europe, East Asia, South Asia and Pacific and Middle East & Africa).

The global acrylic fibre market is segmented on the basis of dyeing method, fibre form, blending, end-use and region. As the demand for acrylic fibres is stagnant in the developed economies of North America and Western Europe, significant opportunity for growth in the global acrylic fibre market lies in the regions of APEJ, Latin America, and Middle East & Africa.

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Acrylic fibres possess good aesthetic properties owing to their capability to accept multi-colour dyes in clear, bright and muted tones. They impart natural aesthetics to fabrics as opposed to their nylon and polyester counterparts. Also, acrylic fibres have excellent resistance to ultraviolet degradation, weak alkalis, and microbiological attack. Due to such physical, chemical, and thermo-biological characteristics, acrylic fibres are becoming popular in their use by blending with other materials such as wool, cotton, polyester etc. Moreover, acrylic fibres are used in various end-use industries such as apparels, home furnishing etc. With macroeconomic development of these end-use industries supported by regional GDP and population growth, the demand for acrylic fibres is further expected to increase, specifically in the Asia Pacific region over the coming years. In addition, sporadic supply of wool and cotton at a global level is pushing manufacturers to blend acrylic fibre with wool and cotton for use in the manufacture of products such as blankets, sweaters, etc.

Upswing in acrylic fibre raw material prices is forcing manufacturers across the globe to use its substitutes such as polyester, nylon, cellulose etc. for various applications. These substitutes have economic advantage over acrylic fibre due to better raw material availability, large scale production, and recyclability. Owing to this, acrylic fibre manufacturers across the globe are facing significant challenges to sustain in the market. Production units are terminating in developed regions such as U.S and Europe owing to strong inter-fibre competition, especially from polyester fibres. Moreover, U.S. and Europe are suffering under rising competition from Asian imports of acrylic fibre and its finished products. These factors are likely to restrain the growth of the global acrylic fibre market.

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Segmentation highlights

• Global acrylic fibre market is segmented on the basis of dyeing method, fibre form, blending, end-use and region. On the basis of dyeing method, the global acrylic fibre market is segmented into acid, gel, and undyed. The gel dyeing segment is estimated to register a CAGR of 3.8% over the forecast period. The gel dyeing segment is estimated to dominate the global acrylic fibre market, with 56.5% market revenue share, valued at US $ 2,450.99 Mn by 2016 end.
• On the basis of fibre form, the global acrylic fibre market is segmented into staple and filament. The staple fiber segment is estimated to dominate the global acrylic fiber market, with more than 61.37% market revenue share, valued at US $ 2,658.11 Mn by 2016 end.
• On the basis of blending, the global acrylic fibre market is segmented into wool, cotton, and others. The cotton blending segment is anticipated to register a CAGR of 3.7% over the forecast period.
• On the basis of end use, the global acrylic fibre market is segmented into apparels, home furnishing, industrial, and outdoor. The apparels end-use segment is projected to register a CAGR of 3.6% over the forecast period, creating significant incremental opportunity between 2016 and 2026.

Regional market projections

The global acrylic fibre market is segmented into seven key regions namely, North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, Latin America, and Middle East & Africa. In terms of market value, the APEJ acrylic fibre market is projected to increase at a value CAGR of 4.4% over the forecast period, while markets in Japan, U.S., and Europe are expected to register a below average CAGR. Growth in the APEJ acrylic fibre market is largely attributed to growing use of acrylic fibre for various applications along with macroeconomic growth of a population driven textile industry in the region.

Vendor insights

Some key players in the global acrylic fibre market are Aksa Akrilik Kimya Sanayii A.Ş. (Aksa), Dralon, Aditya Birla Group, Jilin Chemical Fiber Group Company, TAEKWANG INDUSTRIAL CO. LTD., Exlan Japan Co. Ltd., Kaneka Corporation, Indian Acrylics Limited, Pasupati Acrylon Ltd., and Vardhman Acrylics Ltd. Research and development is being carried out to improvise the properties of acrylic fibre by modifying its inherent characteristics. In order to compete with substitutes of acrylic fibre such as polyester and cellulose acetate fibres, key companies in the APEJ region have invested significantly in R&D initiatives.

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Key Segments Covered

On the basis of products, the market has been categorised into alfalfa, clover, chicory, ryegrass and others (including lablab, fescue, etc.). Alfalfa seeds segment was the largest contributor to the market in 2013, accounting for a market share of 27.0% in terms of value. The clover forage segment was the second largest revenue generator in the same year. Alfalfa plays an important role as a livestock forage. The demand for alfalfa is primarily driven by its high nutrient content (protein and energy) that helps improve: growth of livestock, maintenance, lactation and reproduction. In addition, alfalfa seeds are widely used for feeding dairy cattle with a view to enhance milk production globally. The clover seed segment of the global forage seed market was valued at USD 2,636.3 Mn in 2013 and is expected to expand at a CAGR of 7.9% in terms of revenue during the forecast period.

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The global forage seed market is expected to witness substantial growth during the forecast period. The forage seed market is primarily driven by growing demand for forage feed that is used to feed livestock. In addition, increasing global meat consumption and economic benefits derived from cultivation of forage seed have led to the further rise in demand for forage seeds globally. Apart from this, rising demand for organic meat in order to maintain a healthy lifestyle has been creating future growth opportunities for the forage seed market.

This report covers drivers, restraints and opportunities that are driving each segment and respective sub-segments of the market, and offers analysis and insights about the potential of the forage seed market in specific regions. Geographically, North America held the key market share of the forage seed market in 2013, accounting for 33.5% market share in terms of revenue. Market growth in this region is attributed to the increasing demand for weed-free forage products, fuelled by the expanding livestock population. Agricultural and livestock farmers are focusing on the use of good forage crops for feeding livestock. Therefore, demand for forage seeds is increasing in view of cultivating forage crops to meet the consumer needs in North America. In 2013, Europe held second largest market share followed by Asia Pacific and Rest of the World. Growing human population, increasing disposable income and urbanisation are playing an important role in increasing the demand for poultry meat and dairy products in Asia Pacific. Furthermore, the economic benefits, such as crop rotation and risk diversification, of forage seed cultivation are also expected to boost the growth of the forage seed market in Asia Pacific. The forage seed market in Asia Pacific was valued at 511,900 kilo tonnes in 2013 and is expected to expand at a CAGR of 10.3% during 2014-2020.

Key competitors covered in the report are Allied Seed, LLC, BASF SE, Dow AgroSciences LLC, S & W Seed Company, Germinal GB, Hancock Farm & Seed Co. Inc, Central Garden & Pet Company, Northstar Seed Ltd and Heritage Seed Company. These companies are involved in producing chicory seeds, turf grass seed, fescue, timothy grass and ryegrass, among others. In 2013, Allied Seed, LLC was the leading player in the forage seed market as it has a strong distribution channel and the company offers all the major forage seeds.

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Key Segments Covered

• Forage seed Market
  • By Product Segment
    • Alfalfa
    • Clover
    • Ryegrass
    • Chicory
    • Others
  • By Livestock Type
    • Poultry
    • Cattle
    • Pork/Swine
    • Others

Key Regions/Countries Covered

• North America
  • U.S.
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Scandinavia
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

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• Rest of the World
  • Latin America
  • Middle East
  • Africa

• Counteracting the effects of free radicals produced naturally in our bodies
• Different antioxidants can benefit different parts of the body; from eyes and heart to prostate and urinary tract
• Protecting skin from photo-oxidation of UV rays
• Supporting the immunity system by protecting cellular DNA and cell membranes from mutation

An exclusive research study by Future Market Insights projects that factors as such are observed to be the key drivers for the growth of the global antioxidants market. Their health benefits will drive their demand in the assessment period, 2014-2020, as the report projects a steady expansion of the global antioxidants market through 2020. During this forecast period, the report expects that increasing intake of antioxidants in optimizing one’s health and improving memory abilities will also serve as a proponent in driving the sales of products containing antioxidants.

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Key Companies in the Global Antioxidants MarketAccording to the report, companies namely, Aland (Jiangsu) Nutraceutical Co., Ltd., Archer-Daniels-Midland Company, BASF S.E, Cargill, Incorporated, DuPont, Kalsec, Inc., Kemin Industries, Inc., Koninklijke DSM N.V., Naturex S.A., Nutreco N.V., and Vitablend Nederland B.V. are observed to remain active in the expansion of the global antioxidants market through 2020. A majority of these producers will be striving the balance the negative effects of antioxidants consumption by boosting the health-benefitting properties of their products.

Recent Trends in Food Applications of AntioxidantsKey trends that will be influencing the use of antioxidants in the food and beverage industry have been analyzed in the report. They include:

• Scientific developments in antioxidant action on lipids
• Use of antioxidants as an antimicrobial agent
• Hormone research studies proving the key role of antioxidants in protecting the membranes of tissues and cells
• Growing use of emulsified oils in production of food products
• Rising adoption of in-situ extraction
• Increasing consumption of uncomminuted food such as roasted beef
• Surging demand for pre-cooked frozen fast foods and freeze-dried foods, among others

Global Antioxidants Market: Segmental Analysis and Regional InsightsThe report projects that the demand for antioxidants will be greatly influenced by the changing undercurrents of the food and beverage industry. An extensive value chain analysis and opportunities assessment has been provided in the report to extend the reader’s knowledge on untapped growth potential of the global antioxidants market.

The global market for antioxidants has been segmented on the basis of type of antioxidants and region. With respect to the product-type, the demand for natural antioxidants over synthetic antioxidants is anticipated to remain significantly high through 2020. The report also projects that natural antioxidants will register the fastest revenue growth throughout the forecast period. On the basis of geographies, the global antioxidants market has been further segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. Among these, North America is anticipated to represent the largest market for antioxidants. Robust growth in food & beverage industry, coupled with high meat consumption, will be driving the demand for antioxidants in the US and Canada. The APAC antioxidants market is also anticipated to remain lucrative for manufacturers through 2020.

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Key Segments Covered: Antioxidants MarketBy Product Segment

• Natural Antioxidants
  • Rosemary extracts
  • Vitamin A
  • Vitamin C
  • Vitamin E
• Synthetic Antioxidants
  • Butylated hydroxyanisole
  • Butylated hydroxytoluene
  • Others

Key Regions/Countries Covered: Antioxidants Market

• North America
  • U.S.
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Scandinavia
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
  • Latin America
  • Middle East
  • Africa

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