Market Research Blog – Page 14674 – New Product Development

Sulfur Hexafluoride Market Pegged at 5.8% CAGR, Electronics Industry Accounts for Inordinate Consumption

The global sulfur hexafluoride market is poised for promising growth at a projected CAGR of approximately 5.8% during the course of forecast period (2019-2029). Favourable chemical properties and variegated end-use applications particularly electronic devices continue to supplement the growth of sulfur hexafluoride market.

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Key Takeaways of Sulfur Hexafluoride Market Study

Role of sulfur hexafluoride in developing electronic circuits is the growth engine of the market.
Chemical inertness, non-toxicity, high density, and high dielectric strength are highly sought-after attributes of sulfur hexafluoride.
Electronic grade sulfur hexafluoride contributes substantially to the overall demand.
Asia Pacific carves out approximately 45.8% revenue share in the global sulfur hexafluoride market.
Europe will exhibit relatively sluggish market growth owing to stringent government regulations.

Key players must adopt multipronged strategies such as joint ventures and product development for competitive leadership. These strategies are fundamental to fortifying their foothold in the global sulfur hexafluoride market.

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Asia Pacific Accounts for 45.8% Share in Sulfur Hexafluoride Market

On account of enormous regional population, power and energy demand is soaring in Asia Pacific. Being a leading end-use application of sulfur hexafluoride, power & energy generation industry is supporting the growth of regional market. Hence, Asia Pacific sulfur hexafluoride market garnered approximately 45.8% market share in 2018.

The sulfur hexafluoride market is Europe will relatively be slow during the forecast period owing to environmental implications associated with the product. Moreover, stricter norms set down by governing bodies are limiting the sulfur hexafluoride market growth in the region. However, improved sustainable practices in certain domestic markets such as the United States will contribute to steady market growth in the country.

Sustainable Practices Remain Key Agenda of Industry Leaders

Some of the key players featured in this FMI study include, but are not limited to, Advanced Specialty Gases, Air Liquide, Electronic Fluorocarbons, LLC, Axcel Gases, American Gas Products, Solvay S.A., Praxair Technology, Inc., Honeywell International, Fujian Shaowu Yongfei Chemical Co. Ltd., Air Products and Chemicals, Inc., Chengdu Kemeite, Concorde Specialty Gases Inc., and Liming Research Institute.

The global sulfur hexafluoride market is fragmented in nature. Reusing sulfur hexafluoride and incorporating latest technology is the key forte of market leaders. For instance, Solvay reclaims and reuses sulfur hexafluoride gas worldwide to comply with stringent environmental norms. Other players opt for collaborations to strengthen their market presence.

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FMI’s study offers an in-depth market forecast and analysis on the global sulfur hexafluoride market. The major categories encompassed by the report include grade (technical, electronic), application (electrical transmission and distribution, semiconductor manufacturing) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).

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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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Sodium Silicate Market In-Depth Analysis, Growth Strategies and Comprehensive Forecast to 2029

Global sodium silicate market will grow gradually at 3% CAGR between 2019 and 2029. Sodium Silicate products will witness an uptake in sales on the back of eco-friendly properties of the compound. Market players are innovating end-use applications that cater to the need for viable alternatives of conventional adhesives, binders, and cleaning agents.

Sodium silicate manufacturers can earn profitable revenues by leveraging opportunities presented by prevalence of environment efficient rubber tires, wastewater treatment, and soil stabilization. Market players are developing products for untapped industries such as welding, agriculture, and food.

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Key Takeaway of Sodium Silicate Market Study

Sodium Silicate market is valued at US$ 5.6 Bn in 2018 growing at a lackluster CAGR during the forecast period.
Asia Pacific (APAC) holds a major market share with more than 53% of the total market value. India, a developing economy in APAC is expected to grow at a promising 5% CAGR from 2019 to 2029.
Amid resurgent infrastructure industry and growing demand for green-alternatives, demand from the US will grow at an astounding 12% CAGR through the end of 2029.

Developing economies such as India, Indonesia, and South Korea are investing in infrastructure development. Sodium silicate is an ideal binder for sustainable construction practices. Market players must leverage this opportunity and procure profitable revenues for the forecast period.

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Infrastructure Impels Future Demand Growth

Major manufacturers of sodium silicate are involved in research and development of products, mergers, acquisitions, and expansion of global footprint via strategic stakeholder partnerships. APAC reigns supreme with share-wide dominance, attributable to surge in demand for end-use industry products that employ sodium silicate such as rubber tires, water treatment, and construction. North America offers lucrative growth opportunities where the US exhibits a double digit 12% CAGR during the forecast period.

Recovering infrastructure in the US propels regional growth during the forecast period. European countries such as Germany is driven by increasing demand for compound in pulp & paper, healthcare, and elastomer filler for rubber tires. Emerging economies in Latin America and MEA are following the footsteps of early adopters with infrastructure development and proactive environmental consciousness.

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FMI’s study offers an in-depth market forecast and analysis on the global sodium silicate market. Major categories encompassed by the report include application type (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).

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Refinery Catalyst Market is anticipated to witness a considerable growth of 4.6% CAGR during the period 2022 and 2030

Increasing use of transportation fuel is likely to have a direct impact on the demand for refinery catalyst, according to a recent report published by Future Market Insights (FMI).

Catalytic processes are imperative for the production of transportation fuels such as gasoline, diesel, jet fuel and others from petroleum. Evolving composition of transportation fuel composition requirements to match the environmental regulations and changes in engine design are expected to drive the refinery catalyst market.

Environmental regulations are getting stricter across the world. Considering this, with the need for cleaner emission growing stronger, companies are looking for newer ways to reduce their harmful emissions.

In order to adhere to these stringent rules, the use of cleaner emission fuels is encouraged. This has led to high use of low Sulphur fuels as these cause less damage to the environment. Refinery catalysts play a major role as they are critical in reducing Sulphur from fuels. Owing to these applications, global refinery catalyst market is expected to experience a surge in demand.

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Furthermore, the increasing uses of different catalysts such as Fluidised Catalytic Cracking (FCC) and Hydroprocessing technologies are poised to boost the market growth. The report offers exclusive insights into the market. Some of the key takeaways are highlighted below:

Key Takeaways

Asia Pacific is expected to emerge as the most lucrative market for refinery catalysts during the forecast period
North America and Europe are likely to exhibit witness substantial growth during forecast period 2020-2030
FCC is projected to emerge as the most lucrative product type, however, the hydrotreating segment expected to witness highest growth during the forecast period
Zeolites likely to remain the highest used ingredient segment
Rising use of transportation fuel to boost growth of global refinery market.

“Regulations encouraging the use of cleaner emission fuels are expected to get more stringent in the near future as concerns over environmental safety is taking precedence globally. Hence the role of refinery catalysts in lowering the Sulphur levels of fuels is expected to gain more prominence, providing huge market potential for manufacturing companies in the industry” said an analyst at FMI.

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COVID-19 Impact on Refinery Catalyst Market

COVID-19 pandemic is impacting the global economy since its advent. Refining catalyst market is affected by the impact pandemic had on the petrochemical industries across the world. The pandemic has affected all aspects of business.

With restricted productions and lack of labor due to the social distancing norms, the manufacturing companies are still recovering from the impact. This negative impact is expected to lead to a drop in demand of refinery catalysts in 2020.

As transportation was restricted across worst hit countries for a significant time during the year, the demand took a huge dip. Decelerating growth was recorded as crude oil prices went to an all-time low with negative pricing for the first time.

Additionally, with end-use industries affected in the regions such as Asia Pacific, North America and Europe, a significant drop in year on year growth rate is expected. Although the market has suffered losses, it is expected to pick itself up by the beginning of 2021.

Who is Winning?

Global refinery catalyst market encompasses established players who operate internationally as well as regional players. This has resulted in a highly competitive market. The key strategies adopted by players include strengthening supplier base and improving distributor networks.

Furthermore, product innovations is a key strategy employed by large players to sustain in the market and gain advantage over competitors. For instance, key player in the global refinery catalyst market, BASF has announced launch of a new fluid catalytic cracking (FCC) catalyst product for gasoil feedstock. It is based on the multiple framework technology (MFT) by BASF.

This new product has confirmed its ability to deliver better economic performance during trials. This is achieved through butylene selectivity, high conversion and coke selective bottoms upgrading in order to increase refiner’s profitability.

Some of the key players in the global refinery catalyst market are Exxon Mobil, Albemarle Corporation, W.R. Grace and Co., Honeywell International Inc., Clariant AG, BASF SE, Axens SA, Haldor Topsoe A/S.

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Get to Know More about Refinery Catalyst Market

The research report analyzes the total sales of refinery catalyst on the basis of volume (Units) and value (US$ Mn). The market is projected on the basis of factors such as petrochemical industry growth, fuel sales, global GDP growth, industry value added, and government regulations. The scope of the research report includes only new sales of refinery catalyst for OEM. The report offers critical insights into the refinery catalysts market in terms of product type (FCC, reforming, hydrotreating, hydrocracking, isomerization and alkylation), ingredients ( zeolites, metals and chemical compounds), and across 5 key regions (North America, Latin America, Europe, Asia Pacific & Middle East & Africa)

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Use of Ammonium Phosphate in Flame Retardant Applications to Gain Traction through 2029

The projected growth rate of ammonium phosphate market is approximately 3.3% over the course of forecast period (2019-2029). The demand from fertilizers segment remains steady and even surges in emerging economies. Other end-use industries such as electronics and optics are complementing the growth of ammonium phosphate market.

Key Takeaways of Ammonium Phosphate Market Study

Fertilizers industry accounts for substantial ammonium phosphate demand.
Rising uptake of ammonium phosphate in fire extinguishers is propelling the market growth.
Gains in ammonium phosphate market to remain consolidated in Asia Pacific.
Europe and North America ammonium phosphate market will witness modest growth through 2029.
Demand for organic fertilizers will limit the growth of ammonium phosphate market in developed regions.

Major stakeholders in ammonium phosphate must renew their focus towards Asia Pacific market which continues to remain the growth epicentre on account of heightened demand for fertilizers.

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Demand for Mono-ammonium Phosphate to Remain Rampant in Fertilizers

Mono-ammonium Phosphate (MAP) is a chief component of granular fertilizer. The pH regulation and water solubility are two most sought-after attributes of MAP. Farmers continue to prefer ammonium phosphate for sustained and healthy growth of plants. The augmented demand for MAP in high-pH soils is particularly fuelling the market.

In suspension fertilizers, ammonium phosphate is used in powdered form. Moreover, MAP has good handling and storage properties which are boosting its demand among consumers. However, the ongoing debate over the potential environmental impact of ammonium phosphate based fertilizers is limiting the market growth.

Asia Pacific Acquires 32.6% Revenue Share in Ammonium Phosphate Market

Demand upsurge for fertilizers owing to increasing population is boosting the ammonium phosphate market in Asia Pacific. The predominant markets for ammonium phosphate are China and India. On that premise, Asia Pacific constitutes approximately 32.6% revenue share in ammonium phosphate market.

On the other hand, consumers in Europe and North America have growing inclination towards organic fertilizers. The ammonium phosphate market growth in these two regions will be relatively sluggish on that account. Moreover, stricter environmental norms in developed economies will hamper the growth of regional ammonium phosphate market.

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Geographic Expansion Remains Chief Strategic Tenet of Global Players

The competitive landscape of ammonium phosphate market is consolidated in nature at the global level. However, in certain regions, it remains fragmented with proliferation of SMEs. Key manufacturers featured in this study include, but are not limited to, are OCP SA, Wengfu Group, Yara International ASA, Solvay S.A., Coromandel International Ltd., Lanxess AG, Nutrien Ltd., Jordan Phosphate Mines Company, and Haifa Group.

Premier companies in ammonium phosphate market are focused on geographic and operational expansion for greater market foothold. However, the demand for inorganic fertilizers continues to stagnate in developed economies. Manufacturers thus need to divert their resources towards Asia Pacific market where use of ammonium phosphate based fertilizers is still prevalent.

More about the Report

FMI’s study offers an in-depth market forecast and analysis on the global ammonium phosphate market. The major categories encompassed by the report include product type (mono-ammonium phosphate, di-ammonium phosphate, and ammonium polyphosphate), application (fertilizers, food & beverages, fire extinguishers, detergents & soaps, and water treatment chemicals) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).

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Feldspar Market is poised to increment at a CAGR of 5% over the predefined timeframe

Future Market Insights (FMI) recently published a detailed business intelligence study on global demand for and application of feldspar in various industries. The study reveals that the global feldspar market size reached around US$ 1.3 Bn in 2018. Robust advancement in construction and development of both commercial and residential sectors are triggering the sales of feldspar, which is widely used in making ceramic tiles. However, recycling of glass and ceramic, mining costs, and volatile logistics are some of the foremost restrains which are expected to hinder the growth of the feldspar market.

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Key Takeaways – Feldspar Market Study

The global feldspar market is projected to grow at a CAGR of 5.5% over the forecast period (2019-2029).
Europe’s feldspar market accounts for 59% of the global market value, owing to emergence of Germany as one of the top producers of feldspar.
Feldspar market in Germany was valued to be US$ 12 Mn in 2018, due to increasing demand for glass and ceramics in global automotive, construction and electronics industries.
High growth opportunities are expected in APEJ, owing to rapid expansion of construction industry and increased government investments in infrastructural projects.
Stringent environmental regulations on mining of feldspar are expected to hinder the market growth.

An increase in the demand for real estate and revival of the U.S. economy exert the demand for feldspar on the ceramics industry, which will further expand North America’s feldspar market.

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Potassium Feldspar to Hold Relatively Large Share

The FMI study finds that potassium feldspar account for higher share than its plagioclase counterpart. Strong global focus on harnessing solar energy is significantly contributing to demand for K-feldspar, which is commonly used in solar glass to produce solar cells. In addition, increasing utilization of post-consumer glass collected via neighborhood and local government recycling programs will continue to intensify competition for raw materials such as feldspar in the manufacturing of glass containers. However, it is imperative to note that the presence of substitutes such as nepheline syenite is projected to negatively impact the demand for feldspar.

Feldspar Market Remains Highly Consolidated

The global feldspar market is highly consolidate, making it difficult for new companies to enter the marketplace. Some of the major companies dominating the market are Quarzwerke GmbH, I-Minerals Inc., Feldspar Corp., Quartz Corp., Adolf Gottfried Tonwerke GmbH, Imerys S.A., EczacibasiEsan, Granite Rock Company, LB Minerals, SCR-Sibelco NV, U.S. Silica Company, SP Minerals, Pacer Corporation, and Sunminerals.

To stay ahead of pack, manufacturers are targeted towards stronger foothold on the global market along with competitive pricing strategy. These factors played an important role in Quartz Corp’s decision to increase the price of feldspar by 5% to 10%, effective from 1^st January 2020. Such strategic move is likely to influence other manufacturers and suppliers to bring high quality products to the market at affordable prices.

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Cold Flow Improvers Market is expected to reach US$ 1,544 Mn by the end of 2027

While FMI in a recent intelligence report on cold flow improver market scenario offers an exhaustive market value and volume-wise evaluation through 2027, it thoroughly examines the regional and competitive outlook of the cold flow improver landscape for deeper yet precise insights.

At an estimated year on year revenue growth of 4.6%, cold flow improver is likely to reach over a billion dollar revenue in 2019, according to a new study presented by Future Market Insights. In terms of volume, the global cold flow improver consumption is slated to cross 300,000 tons towards the end of 2019.

Although Europe remains the largest regional market for cold flow improver, supposedly recording the consumption of more than 116,000 tons by the end of 2019, research estimates that North America in terms of value will demonstrate a higher year on year growth of over 5% each year post 2019.

Over US$ 290 Million Projected for Europe’s Automotive Sector in 2019

Automotive, the leading end user of cold flow improver, is likely to reach the revenue in excess of US$ 260 Mn in 2019. Escalating global automotive production and sales is subsequently translating into the growing demand for lubricant additives, and thereby expanding sales of cold flow improvers. “With growing consumer inclination towards premium quality lubricant additives for enhanced engine performance, it is more likely that the sales of cold flow improvers will sustain over coming years,” says a senior market research analyst at FMI. Europe’s share in the automotive segment will remain around 40% over the next few years, signifying its position in the cold flow improver landscape at a global level.

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Polyacrylate Continues to Register Highest Consumption over Other Types of Cold Flow Improver

With more than 31% share of the current revenue contribution by the product type category, polyacrylate (PA) remains the top selling product type, as indicated by the report. The total PA consumption volume in Europe alone will reach beyond 38,000 tons in 2019, followed by that in North America presumably approaching 30,000 tons the same year.

China Positions itself as an Attractive Territory for Cold Flow Improver Suppliers

With the drastically expanding fleet size and the net vehicle parc, China, the global automotive manufacturing hub, is projecting itself as a highly lucrative regional market for automotive and cold flow improver manufacturers. Another strong factors encouraging Chinese market growth include elevating aviation traffic and a tremendously thriving economic scene. Besides the automotive industry, the fleet size of airline owners in China is demonstrating exceptional growth owing to the most favored low-cost business model. While this scenario is directly impacting a wide range of markets related to aircraft fuel and lubricant additives, cold flow improvers remain one of the top beneficiaries.

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Regional Players Make up for 40-45% of the Cold Flow Improver Market Revenue

The global cold flow improver landscape is moderately consolidated, with a large number of Tier 3 players holding a collective market value share within the range of 40-45%. “Following Tier 3 companies are the Tier 1 market leaders accounting for a 30-35% share of the total market revenue,” reports the FMI analyst. While larger players have moderately strong global presence, Tier 3 companies that include a large number of regional and local players have strong regional presence, owing to which the latter account for a considerably larger market value in the cold flow improver landscape.

To cater to evolving regional demands more efficiently, cold flow improver manufacturers are opting for strategic M&A, in addition to joint ventures. The report points to a growing tendency of leading players in cold flow improver landscape to prioritize production capacity expansion. The market is thus witnessing expansion of existing production plants in high demand regions, as well as establishment of new manufacturing plants in high potential regions, in coming years. “Companies are also observed to be taking exclusive efforts towards exploring diverse applications of customized cold flow improvers,” says the analyst.

How Significant is the ‘Bio-based’ Trend in Driving the Production Facility Expansion Strategy?

In a bid to modulate the environmental footprint, a majority of cold flow improver manufacturers are following a trend of using bio-based raw materials. “While adoption of sustainable raw materials such as vegetable oils helps them effectively slash the level of adverse environmental impact, it is more likely to receive additional benefits in terms of cost and performance. Lubricant manufacturers are thus planning production capacity expansion with sustainable raw materials in order to cater to soaring consumer demand,” the FMI analyst explains this trend further. The trend is likely to push capacity expansion efforts of leading manufacturers, driving revenue growth of cold flow improver landscape globally.

Cold Flow Improvers Market Segmentation

Product Type

Polyacrylate
Polyalkyl Methacrylates
Polyalkyl Methacrylates
Ethylene Vinyl Acetate
Others

By End Use

Automotive
Aerospace
Industrial

Region

North America
Latin America
Europe
China
APAC
Middle East and Africa

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Key Players

Some of the players reported in this study on the global cold flow improvers market include BASF SE, Clariant AG, Evonik Industries AG., AkzoNobel N.V., Baker Hughes Inc., Afton Chemical, Bell Performance, Inc., The Lubrizol Corporation, Chevron Corporation, Infineum International Limited and Ecolab. Moreover, manufacturers of cold flow improvers have been channelizing efforts towards strengthening their distributor and retailer network and are focusing on specific regions. This is expected to positively impact the cold flow improvers market in the near future.

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Aircraft Cleaning Chemicals Market sales to reach a valuation of US$ 3,339.6 Mn in 2029

Sustained by notable increase in number of airlines, coupled with a mounting number of aircraft refurbishment and leasing activities, global sales of aircraft cleaning chemicals will witness a CAGR of 4.3% in the forecast period of 2022 – 2029. A sustainable shift towards bio-based cleaning chemicals is poised to be a prominent trend shaping up the future of global aircraft cleaning chemicals market, suggests a new Future Market Insights (FMI) study.

Bio-based and water-based cleaning chemicals are gaining traction in the market, as these are used to remove hazardous and toxic substances such as trichloroethylene (TCE), perchloroethylene, and other corrosive chemicals from aircraft. Bio-based cleaning chemicals are widely used by both civilian and military aircraft, owing to their non-explosive, low-flammability formulation, which completely eliminates the risk of fire.

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Key Takeaways – Aircraft Cleaning Chemicals Study

The number of air travel passengers is consistently increasing, with the establishment of more than 700 routes for better connectivity. According to the International Air Transport Association, global passenger traffic rose by 7.6% in 2017, which is more than the average annual growth over the last ten years, i.e. 5.5%. This increase creates immense opportunities for players operating in the aircraft cleaning chemicals market.
There is an increasing demand to replace hazardous, VOC-emitting degreasers, and cleaning products with green alternatives and safer products. Prominent manufacturers are focusing on the development of biodegradable, non-toxic, durable, cost-efficient, and non-hazardous cleaning chemicals. Aircraft cleaning chemicals market players are also emphasizing on providing chemicals free from hazardous ingredients, and having no special storage or disposal requirements.
Increasing health awareness, risk of infection, concerns over disease-causing pathogens on contaminated surfaces, etc., make today’s traveler extremely particular about hygiene. Hence, to provide a hygienic environment for travelers, the demand for cleaning chemicals, particularly disinfectants is expected to increase over the course of the forecast period.
Dry wash is an innovative, economical, and safe cleaning concept, minimizing the use of water. Dry wash method can do cleaning and shining in a single process. Dry wash is gaining popularity and preference among end-users as it reduces the cleaning cost as well as time. However, dry wash can require a lot of elbow grease and requires considerably more effort than wet wash.

Who Is Winning?

The global aircraft cleaning chemicals market is highly fragmented due to the presence of good number of players in regional as well as international markets. Key manufacturers such as PPG Industries Inc., Illinois Tool Works Inc., Arrow Solutions, and Callington Haven Pty Ltd account for a prominent share in the global aircraft cleaning chemicals market. North America, followed by Western Europe is estimated to dominate the global aircraft cleaning chemicals market. However, developing regions such as China, India, ASEAN, and the Middle East are expected to create lucrative opportunities for market participants.

The foreseeable increase in the number of aircraft in the next two decades is expected to provide substantial opportunities for players operating in the aircraft cleaning chemicals services market, i.e. cleaning chemical and cleaning equipment manufacturers. Key manufacturers should focus on developing cost-effective as well as efficient products in order to gain a high brand value.

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Aircraft Cleaning Chemicals Market Taxonomy

The global aircraft cleaning chemicals market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product

Exterior
Interior

Formulation

Water-based
Solvent-based
Wax-based

End Use

Civil Aircraft
Commercial/Cargo Based Aviation
Military

Region

North America
Latin America
Western Europe
Eastern Europe
SEAP
MEA
China
Japan

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More About Aircraft Cleaning Chemicals Market Report

The research report analyzes total sales of aircraft cleaning chemicals on the basis of volume (Tons) and value (US$ Mn). The report includes a competition analysis section that includes market structure analysis, tier structure analysis, competition development, and other crucial information about global and regional players in the market. Opportunities in the market are projected on the basis of factors such as aviation industry growth, travel and tourism industry outlook, air traffic growth, investments in upcoming airport projects, and expansion in production by worldwide manufacturers.

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Isoprene Rubber Latex Market is estimated to register growth at 8.1% CAGR between 2021 and 2031

The global isoprene rubber latex market is anticipated to expand at 8.1% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent analysis. Increasing demand of medical gloves and condoms will continue driving the isoprene rubber latex sales. Growing utilization in medical and consumer goods industry will create conducive environment for the growth of the market in the coming years.

Rising demand of medical gloves in the healthcare industries due to growing awareness about health and safety measures to be employed to prevent the spread of diseases after COVID – 19 pandemic is propelling growth of the isoprene rubber latex market.

The increasing use of isoprene rubber latex in the manufacture of personal protective equipment and industrial items such as seals, gaskets, and conveyor belts is anticipated to be a major growth driver. The growing demand for customized industrial gloves is expected to bolster the sales in the market. In addition to this, application in condom manufacturing will strengthen sales prospects.

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Key Takeaways:

Medical glove manufacturers are the predominant consumers of isoprene rubber latex. Medical gloves segment exhibited high demand following the COVID-19 outbreak.
Application in condom manufacturing will increasing, driving sales in the market.
Demand in the U.S. will grow year on year by 8.8% in 2021.
Demand in China will grow by 8.8% between 2021 and 2031.
Sales in Germany will account for 14.3% of overall consumption in Europe in 2021.

“Rising demand of medical gloves from healthcare industry and the increasing usage of adhesives in food, medical and industrial packaging will drive the market of isoprene rubber latex through the projected period from 2021 to 2031,” says a FMI analyst.

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Competitive Landscape

Key market participants in the global isoprene rubber latex market elaborated in the report includes Top Glove Corporation Bhd, Zeon Corporation, PAO Sibur Holdings, Kraton Corporation, Ansell Limited, Supermax Corp. Bhd, Royal Dutch Shell Plc, Kossan Rubber Industries Bhd, JSR Corporation, Hartalega Holdings Berhad, Rubberex Corporation, Johnson Wilshire, Medline Industries, Inc., Dipped Products Plc, Protective Industrial Products, Inc., and many others.

Key players operating in the global isoprene rubber latex market are focusing on increasing their production capacities to strengthen their footprint especially in the emerging economies. Furthermore, key market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network. For instance:

In April 2018, Top Glove Corp Bhd acquired Aspion Sdn Bhd transforming the company into one of the world’s largest surgical glove maker and strengthening its position as the world’s largest glove manufacturer.

More Insights into the Isoprene Rubber Latex Market Report

In its latest report, FMI offers an unbiased analysis of the Global Isoprene Rubber Latex 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 application (medical gloves, condoms, medical balloons, catheters and adhesives.), end use (medical, consumer goods and industrial) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).

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About Future Market Insights (FMI)

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Decorative Plastic and Paper Laminates Market is projected to reach US$ 113 Bn by the end of 2028

In a recently released Future Market Insights outlook for decorative plastic and paper laminates, the global revenue is likely to observe moderate yearly growth in 2019 and approach US$ 70 Bn. “A majority of the sales of decorative plastic and paper laminates is attracted by a large number of smaller players operating in the competitive landscape. While more than half of the market value is accounted by the Tier 3 players that prominently include SMEs, a mere 10-15% share belongs to Tier 1 companies,” says a senior research analyst at the company.

Key Insights at a Glance

A third of the total market revenue is accounted by China, followed by Eastern Europe. FMI points to remarkable progress in sales of decorative plastic and paper laminates within BRICS countries.
Soaring demand for decorative foils and papers in the commercial sector is prominently responsible for superiority of low pressure laminates over high pressure counterparts.
As smaller players dominate the market, the strategic focus remains on product differentiation and cost competitive pricing. Reduced VOC emissions is another important factor dictating strategic moves of manufacturing SMEs.
Key players in decorative plastic and paper laminates landscape are currently concentrating on channelizing their efforts towards strengthening the distribution network, in addition to establish a direct sales channel.

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Rapid Recovery of Residential Housing Sector Firms up the Base for Decorative Plastic & Paper Laminates Demand

Although commercial sector currently dominates in terms of demand for decorative plastic and paper laminates, residential housing sector is likely to take over soon.

The residential construction realm has been witnessing strong signs of recovery over the past couple of years, which is playing a key driving force for the revenue growth of decorative plastic and paper laminates landscape.

Moreover, rapid growth of hospitality sector is providing a strong impetus to product innovation, thereby pushing the growth of leading bands dealing in decorative plastic and paper laminates landscape.

Commercial construction is also significantly favoring the sales decorative plastic and paper laminates, as indicated by the report.

Manufacturers of decorative plastic and paper laminates are also capitalizing on opportunities presented by a growing number of remodeling and repainting projects.

Wooden Flooring Trends among Consumers, Following Furniture & Cabinets

“Furniture and cabinets account for over half the share of total market value, whereas flooring applications are likely to gradually take over,” says the analyst.

Shifting consumer preferences for laminate flooring in both residential and commercial sectors is creating a heap of investment opportunities for manufacturers of decorative plastic and paper laminates.

“Consumers today seek endurance, scratch resistance, and aesthetics while purchasing furniture for homes or workplaces. Such factors are provide the trigger for application specific innovations in decorative plastic and paper laminates,” the analyst explains further.

Spectacular growth prospects are identified for Asia, North America and some parts of Eastern Europe.

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Mushrooming Popularity of RTA Furniture Favors Global Sales of Decorative Plastic & Paper Laminates

Constant design innovation, consistent focus on superior quality, and maximum convenience are collectively driving consumer appeal for ready-to-assemble (RTA) furniture, especially in developed markets of North America and Europe.

Manufacturers of both RTA furniture and decorative plastic and paper laminates are taking efforts to collaboratively unlock the opportunities – with an additional benefit of less susceptibility to damage during transit and shipping.

Penetration of RTA furniture into developing economies is also gradually increasing owing to relatively lower price point and maintenance cost, thereby contributing to sales of decorative plastic and paper laminates.

Digital Print Designs on Decorative Plastic and Paper Laminates Gather Considerable Momentum

Personalization has been trending across industries, and interior decoration is among the prominent ones. Customized digitally printed laminates are especially designed to cater to specific consumer demands regarding print design, pattern, and graphic.

Sheets of digital decorative plastic and paper laminates have high resolution images printed on them, and can be directly applied on furniture, doors, commercials, exhibition stands, and walls.

Digital print laminates are creating a slew of opportunities for manufacturers in the decorative plastic and paper laminates landscape.

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Decorative Plastic and Paper Laminates Market: Key Players

Some of the players reported in this study on the global decorative plastic and paper laminates market include Archidply Industries Ltd, OMNOVA Solutions Inc., Illinois Tool Works, Inc., Fletcher Building Limited, Greenlam Industries Ltd., Stylam Industries Ltd, Merino Group, Panolam Industries International, Inc., OMNOVA Solutions Inc., Illinois Tool Works, Inc. and Century Plyboards (India) Limited, among others.

Moreover, manufacturers of Decorative Plastic and Paper Laminates are channelizing efforts towards the expansion of their production capacities and strengthening their retailer and distributor network. This is expected to certainly impact the Decorative Plastic and Paper Laminates market in the near future.

For a broader look at the global decorative plastic and paper laminates landscape, write to the team of expert analysts at press@futuremarketinsights.com

Coal Tar Pitch Market sales to reach a valuation of US$ 5,145.5 Mn in 2028

Tier-1 companies in coal tar manufacturing represent 60-70% share of the total market revenue. With massive coal tar distillation capacities across the globe, these players in coal tar pitch landscape maintain their focus on both, standard grade and special grade coal tar pitch (CTP) production.

Tier 2 players have a strong presence over restricted regions, whereas that of Tier 3 competitors is limited to regional sales. Standard grade coal tar pitch is the key focus area for the latter two, according to Future Market Insight’s study on the global coal tar pitch landscape.

“Production facility expansion, strategic acquisitions, and CTP product innovation will remain the key developmental strategies trending among leading players,” says a senior research analyst at FMI. The analyst adds further, “Massive Aluminum demand from automotive and transportation sectors has been pushing the Aluminum production levels 4-5% (yearly) since the recent past. Growing demand for lightweight vehicles is among the most impactful factors driving the consumption of Aluminum, subsequently contributing to sales of coal tar pitch”.

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Long-term Contractual Partnerships & Backward Integrated Supply Rule Strategic Minds of Coal Tar Pitch Manufacturers

While manufacturers of coal tar pitch are preferring long-term supply contracts with leading coal tar manufacturers, FMI has also identified these players entering strategic partnerships with steel manufacturers, where coal tar is often the byproduct of coke processing ovens. A few other activities that make this landscape dynamic include long-term contracts between manufacturers of coal tar pitch and those of primary aluminum and graphite electrode, with a sole objective to sustain the coal tar pitch supply to end markets.

Aluminum Grade CTP Holds a Winning Revenue Share in Coal Tar Pitch Market

Application-wise, around 80% revenue share belongs to the aluminum electrode, according to the study. As coal tar pitch is increasingly being consumed by aluminum smelters lowing to higher sustainability and economic feasibility, the mushrooming Aluminum production is constantly driving the growth of coal tar pitch landscape. In 2019, the revenue of Aluminum grade coal tar pitch is pegged for over 5% Y-o-Y growth. Besides, Graphite electrode is also slated for promising performance and the application base of coal tar pitch as a chemical intermediate in carbon black manufacturing is visibly growing.

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Development of Specialized ‘Zero QI Impregnating’ Coal Tar Pitch Expands Applicability

A specialized ‘impregnating’ pitch obtained by processing coal tar at a high temperature is widely used in the Graphite industry during the electrode manufacturing process. The resultant technological advancements in the life of electrodes pushes CTP applications in roofing, coating, electrode, refractory, and others.

China Commands over Global Coal Tar Pitch Landscape, India Leads Asia Pacific’s CTP Scenario

China, India, Russia, and Western Europe have a significant aluminum production base, whereas MEA is demonstrating promising growth in coal tar pitch landscape in recent years. North America, however, is observing passive growth over the recent past, post decline in the aluminum production levels.

According to the FMI’s report, China is the global leader in coal tar pitch ecosystem owing to significant Aluminum production and thriving production levels of Graphite electrode. China is projected for a 6% year on year revenue growth by this year’s end, reflecting ample growth opportunities for coal tar pitch manufacturers.

On the other side, APAC’s market for coal tar pitch is witnessing growth concentration in India that has been attributed to an impressive rate of Aluminum production in the country.

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Coal Tar Pitch Market Structure

The global coal tar pitch market is a highly consolidated one with major players such asKoppers Inc., Rain Industries Limited, Shanghai Baosteel Chemical Co. Ltd and JFE Holdings, Inc. accounting for a 50–60% share in the global market.

Some of the other prominent players covered in the global coal tar pitch market study areCoopers Creek Chemical Corporation, Himadri Specialty Chemicals Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Shanxi Coking Company, Neptune Hydrocarbons, Bathco Ltd., China Steel Chemical Corporation, Hengshui Zehao Chemicals Co., Ltd, Shandong Gude Chemical Co., Ltd and Crowley Chemical Company Inc., among others.

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