Transportation Composites Market | Current and Future Demand, Analysis, Growth and Forecast By 2030, Report

Transportation composites’ compatibility with the broader objectives of the automotive industry, notably sustainability and weight reduction, will drive sustained adoption, according to a new report by Future Market Insights (FMI).

The report offers a 10-year outlook on the transportation composites market, offering analysis across key segments in 20+ countries.

According to the study, consistent innovation and research into technologies that help meet legislated emission targets are becoming the elixir for manufacturers of transportation composites. Moreover, as customers are become more environmentally conscious, reuse and recycling is gaining traction – a development that augurs well for transportation composite manufacturers.

In a bid to fulfil emissions targets and improve the sustainability of future automobiles, mass reduction of automobiles (lightweighting) is increasingly emerging as major challenge for automotive manufacturers.

Lightweight vehicles help achieve improved fuel efficiency as well as offer better braking, acceleration, and handling.

As these trends propelling the current surge will sustain, transportation composite manufacturers are focusing on distinctive capabilities and continue to explore opportunities to better serve customers and make material progress.

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Transportation Composites Market Size Study

  • Demand for lightweight components to drive market growth
  • Glass fiber transportation composites remain preferable owing to their superior properties such as high strength and durability
  • Thermosetting composites stay in-demand through 2030, given their umpteen strength that makes them ideal for high-temperature conditions
  • Market players continue to reap substantial gains from Asia Pacific (APAC) over the following decade

“Over 100 models in automotive industry currently leverage carbon fiber reinforced plastic (CRFP) for OEM components. The OEMs are banking on transportation composites to curb vehicle emissions, decrease vehicle weight, and thus, enhance fuel efficacy,” says analyst at FMI.

COVID-19 Impact on Transportation Composites Market

The transportation composites market is heavily dependent on the automotive production and sales across the world. Sudden shutdowns of manufacturing units in China and its ripple effect, resulting in large-scale havoc among global automotive manufacturers, have been felt subsequently in the US, Europe, South America, and India. Moreover, majority of prominent global automakers import 30-60% of their components from China such as sub-assemblies, and modules.

As several automotive OEMs and distributors have offshored their production activities to low-cost regions, they are currently scrambling to set up shorter or localized regional supply chains.

Moving ahead, nationwide lockdowns in worst-affected countries have impacted the transportation composites market at multiple fronts including, financially drained SMEs, disturbed supply chains, and dampened sales in Q1 of 2020. Moreover, the effects have spilled over into Q2, with incomplete order deliveries due to ongoing production downturns.

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Transportation Composites Market – Competitive Intelligence

The global transportation composites market is moderately fragmented, with presence of leading players exhibiting expertise in advanced manufacturing techniques. In a bid to sustain their revenue pool in the global marketplace over long run, market players are focusing on conspicuous investments in innovation and diversification.

  • Toray Industries develops carbon fiber transportation composites derived from polyacrylonitrile (PAN). These composites, in various forms, are used in automotive and several other use cases
  • Solvay S.A. produces an entire range of thermoplastic transportation composites – Evolite™ – for demanding applications. These products contain polyphthalamide (PPA) and polyphenylene sulfide (PPS)

Key Segment

Material Type

  • Glass Fiber
  • Natural Fiber
  • Carbon Fiber Composite
  • Aramid Fiber

Resin

  • Thermoset
  • Thermoplastic

Application

  • Interior
  • Exterior
  • Underbody
  • Chassis
  • Powertrain
  • Engine Components

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Want To Know More About Transportation Composites Market?

A new market research report published by Future Market Insights (FMI) on the global transportation composites market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the transportation composites market through five different segments – material type, resin, application, vehicle type, and region. The transportation composites market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of transportation composites and product adoption across several end-use industries.

Silanes Market is projected to expand at a CAGR of 4.4% during the forecast period 2020-2030

Future Market Insights, an ESOMAR certified market research firm, opines that sales of silanes are anticipated to soar with their high usage as sealants, adhesives and protective coatings in the construction sector.

The market is also gaining traction with the use of silanes as process additives in the manufacture of PU foam for well insulated and energy efficient buildings. Sustained demand from the medical sector is also likely to drive growth through 2030, according to the latest study.

Scoring high on the performance index, silanes have proven ideal for a range of medical applications. Silanes are increasingly being used in dental care, drug and transfusion delivery systems, prosthetics, cooling caps, breathing tubes and hearing aids. As key biomaterials, silanes are used in many pharmaceutical products as actives and excipients.

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“The current pandemic has led to high manifestation of silanes in the healthcare and pharmaceutical sector with pronounced usage in pacemakers and tubing applications. Demand growth in this sector is slated to be high in the near term”

Key Takeaways of Silanes Market Study

  • High growth of silanes is sustained in Asia Pacific which is slated to be a regional behemoth in the chemicals sector
  • Organo-functional silanes are set to capture substantial chunk of market value and have shown benefits in water scavenging, cross linking and adhesion promoting
  • The electronics sector is additionally set to offer lucrative market opportunities for silanes in electronics industry such as semi-conductor components, integrated circuits, computers, power electronics, LEDs and automotive electronics
  • The high utilization of silanes in green tires is set to improve automobile fuel efficiency by at least 4%-5%

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R&D a Key Focus Area for Silanes Manufacturers

The competition landscape of silanes is characterized by a network of market behemoths who are continuously scaling up through innovative product launches. Many of the players are focusing on the diverse applications of silanes for a more balanced portfolio. For instance:

  • Silanes have found their way in a number of adhesive innovations. For instance 3M announced a new product for their commercial vehicles. CV90F belongs to the commercial vehicle tape family providing strength with a multi-purpose adhesive. This adhesive used in vehicle tapes keeps the surface smooth
  • Sikagard SN-40, a product by SIKA USA is a water-repelling silane sealer. It is specially formulated to provide a tough barrier against water entry in concrete

Market Set for Strong Recovery Post Pandemic

The COVID-19 crisis has led to subdued demand for silanes in the near term. The institution of social distancing and regional lockdowns has crippled supply chains thus affecting demand and supply of silanes.

Raw material shortages are also impacting the manufacturing of silanes. On this premise, the market will contract substantially in 2020-2021. However, the market is slated for a quick recovery and will witness 1.5X growth in consumption over the forecast period.

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Find More Valuable Insights on Silanes Market:

FMI in its new market research study, offers an unbiased analysis of the hydrogen electrolyzer market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global silanes market through four different categories – product type, capacity, outer pressure, end user and region. The global silanes market study provides information of pricing by different application analysis, product life cycle, capacity assessment, key market trends and technologies which are being implemented in the deployment of silanes and product adoption in varied end use industries.

Silicon Tetrachloride Market sales to reach a valuation of US$ 2,846.0 Mn in 2027

Future Market Insights (FMI) has published a new research titled “Silicon Tetrachloride & Derivatives Market: Global Industry Analysis 2012 – 2021 and Opportunity Assessment 2022 – 2027.” The report states that the demand for silicon tetrachloride is likely to be driven by the growing demand for chemical intermediate manufacturing. As silicon tetrachloride is employed as an intermediate in the production of polysilicon, its demand in certain vertical industries is also increasing and is expected to remain on the same track in the coming years. The global silicon tetrachloride market is expected to witness a CAGR of 4.5% from 2022 to 2027. The market is expected to reach a valuation of over US$ 2,846 Mn by the end of the forecast period.

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Growing Demand for Optic Cable to Bode Well for Market Growth

High purity silicon tetrachloride is a major raw material used for the manufacturing of optic cable preform, which is used in the manufacturing of optic cables. In the recent past, supported by the growth of 4G, 5G, LTE, FFTx and the IoT, there has been a significant increase in the demand for optic cables across the globe. China, U.S. and Japan constitute around 80% of total optic cable preform manufacturing and in terms of consumption, China accounted for nearly 58% of total optic fibre preform in 2022. A constantly increasing demand for optic cables will boost the demand for optic cable preform, which will subsequently drive the silicon tetrachloride market over the forecast period.

However, the government of China has imposed rules and regulations on the manufacturing of silicon tetrachloride, which is produced as a by-product during the production process of polysilicon. The government of China has imposed a minimum recycle rate of 98.5% on silicon tetrachloride and the initial capital cost of silicon tetrachloride recycling facility is high and the operating cost is high as well, which in turn, is increasing the price as well as limiting the supply of silicon tetrachloride. This might adversely affect the growth of the silicon tetrachloride market over the forecast period.

Adoption of Silicon Tetrachloride to be High in China Among all Regions

The growing use of silicon tetrachloride in China can be attributed to the lucrative growth of the solar industry in the region. One of the core raw materials used in the manufacturing of solar panels is silicon tetrachloride. The focus on solar energy in the region is expected to spur the demand for silicon tetrachloride in the coming years. Moreover, the snowballing effect of the semiconductor industry and the rising progress of the paints and coatings industry is anticipated to increase the adoption of silicon tetrachloride in the region in the years ahead.

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The increasing demand for chemical intermediate in the manufacturing industry is also expected to propel the demand for silicon tetrachloride in the region. However, the dependence of the region on cyclical end-use industries and the several restrictions imposed on silicon tetrachloride owing to harmful health impacts might slow down the growth of the market in the region.

Evonik Industries to Emerge Undefeated

In 2021, Evonik Industries accounted for over 40% of the global market share and is expected to retain its dominance in the market over the course of the forecast period. The other companies operating in the market are Cabot Corp., Wacker Chemie AG, The Linde Group, DowDuPont Inc., Tokuyama Corporation, Air Liquide S.A., and OCI Company Ltd., among others.

Silicon Tetrachloride Market by Category

By Grade:

  • Electronics Grade
  • Technical  Grade

By Application:

  • Chemical Intermediate
    • Trichlorosilane (Polysilicon)
    • Fumed Silica
  • Silicone Rubber
  • Optic Fiber Preform
  • Others

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By Region:

  • North America
  • LAMEA
  • Europe
  • China
  • India
  • Japan
  • South East Asia & Pacific

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Polypropylene Market is growing with a healthy CAGR of 3.3% through 2030

The COVID-19 induced subdued momentum, especially in construction and automotive sectors, is likely to hurt the interests of polypropylene market stakeholders in the short run, opines a new study by Future Market Insights (FMI)

Revising its market forecast to negative 2.1% (volume) for 2020, the ESOMAR-certified market research and consulting firm remains bullish on the long-term prospects of the market.

According to the study, “despite a bearish rally for polypropylene over the last three months, a more positive outlook for oil will pave way for brighter polypropylene settlements in the near term.”

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Polypropylene demand decline has been more pervasive vis-à-vis its other plastic variants in automotive and this will continue till resumption of manufacturing operations. However, high sales of spun-bound and meltblown polypropylene grades in the production of PPE and masks can offset some of the losses, opines FMI’s new study.

“The production of polypropylene requires a substantial amount of capital investment. Re-use and recyclability will not only reduce overall investment cost but also substantially reduce carbon emissions” says an FMI analyst.

Key Takeaways of Global Polypropylene Market Study

  • Polypropylene, being 20%-25% lighter than conventional plastic variants will witness robust demand in lightweight automotive category in the long run
  • With crude oil prices moving well below the US$ 30 per barrel, low purchase costs of feedstock such as propylene will offer lifelines to polypropylene manufacturers
  • Innovations in polypropylene packaging solutions continue to offer material savings to manufacturers up to 60%
  • Superior Fluid Catalytic Cracking (FCC) additives for optimizing feedstock yields of propylene are set to expand profit pools of refineries thus having a positive impact on overall growth of polypropylene market

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Competitive Landscape of Polypropylene Market

Borealis, one of the key players has been continuously extending support to all its partners in the polypropylene value chain to make the shift to polypropylene solutions that are viable in sustainable packaging.

Both Sabic and BASF have engineered newer processes to recycle polypropylene from a low-value, low-quality plastic to a pre-consumer plastic that can be effectively used in a number of food packaging applications. BASF has also collaborated with Jaguar to convert plastic waste into high-end automotive parts.

SCG has come out with a technology called as SMX that minimizes the utilization of plastic and paves way for applications in film packaging and chemical drums with more impact resistance and perforation.

Lucrative Market Conditions in China and India Make East Asia a Regional Goliath

East Asia’s prominence in the polypropylene market is likely to continue unabated owing to its fast growing automotive and construction sectors.

Another key factor driving growth of polypropylene market in East Asia is the focus of manufacturers on customization of product portfolio as per specific applications. In East Asia, polypropylene is being prominently used in BOPP film, injection moldings, and Raffia/Thermoforming.

With viral epicenters having shifted to countries such as India, demand for polypropylene grades is robust in packaging and medical applications. Production appetite for bottle caps and closures in medical, hygiene and pharmaceutical applications has led to significant improvements in the demand outlook for East Asia

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Looking for More Information?

Market report on Polypropylene 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 2015-2019 and forecast statistics for 2020-2030. The study offers insightful information on the global Polypropylene market based on various categories–product grade (HP, RCP, ICP and TPO), and application (BOPP Film, Raffia/Thermoforming, Fibres & Filaments, Spun Bond Non-Wovens, Melt Blown Non-Wovens, Injection Moldings, Blow Moldings, Cast & Water Quenched Film, Cast & Water Quenched Film, Pipe & Sheet, and Transparent TPO). This study highlights the key market players, who are well-known market vendors, and have proven themselves as key shareholders in the global polypropylene market. Some of the market players included in the report are BASF SE, SABIC, Exxon Mobil Corporation, Lotte Chemical, LG Chem, Petro China Company Limited, Rongsheng Petrochemical Co., Ltd., Formosa Plastics Corporation, Japan Polypropylene Corporation, and Braskem, among others.

Direct Reduced Iron (DRI) Market is projected to reach revenues worth US$ 17 Bn by 2030 end

Direct reduced iron (DRI) has recently emerged as a quality supplement, in place of scrap steel, among steel making companies. Increasing steel production capacities, heightened awareness about CO₂ emission control among steel producers, and accelerating demand for high-quality steel from end users continue to drive DRI consumption in global market. According to a recent report published by Future Market Insights (FMI), the global DRI market is projected to reach revenues worth US$ 17 Bn by 2030 end, with growth projected at an impressive CAGR between 2020 and 2030.

While increasing steel production capacities in China, India and some Middle Eastern countries account for the amplifying DRI demand, the COVID-19 pandemic has led to disruptions across end-use industries, thereby impeding demand for steel. Ban on steel scrap imports are significantly steering sales of DRI amid the global coronavirus outbreak. Surplus supply, and low demand and high storage volumes will result in considerably falling steel production in near term, ultimately affecting the demand for DRI.

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Manufacturers based in the Middle East are aggressively expanding their DRI production capacities in response to the growing steel demand within region. This would help the regional industry reduce its dependence on imports and emerge as self-reliant in terms of raw material procurement.

Key Takeaways from DRI Market Study

  • Gas-based production process to remain as the go-to option among manufacturers, especially in North America, Europe and Middle East, due to lower natural gas prices
  • Coal-based production is dominated by India, which accounts for almost 80% of the DRI produced through coal-based process
  • Pellets are the most preferred among DRI form type, as they are easy to transport, have better reactivity and are cost effective than lumps
  • Over the recent past, DRI imports have been witnessing a steady rise despite facing stern competition from hot briquetted iron (HBI); the latter has low reactivity and is subject to lower transportation costs
  • Vertical integration strategies adopted by steel manufacturers to produce DRI at their own facilities would remain an impending trend in the near future

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DRI Market: Key Participant Insights

While DRI will not replace scrap steel as the primary raw material for steel production, it is projected to be utilized as a key ingredient and in higher proportions. In addition, the growing demand for high quality steel products is further expected to drive DRI demand. Most of the leading tier-1 manufacturers in the DRI market, like ArcelorMittal, SIDOR, Jindal Steel, Mobarakeh Steel and Nucor, use most of their production for captive consumption and the rest for exports to major steel manufacturers around the world. Capacity expansions are also one of the primary focus of the globally leading manufacturers to stay ahead of the competition.

Direct Reduced Iron (DRI) Market: Segmentation

Production Process

  • Coal-based
  • Gas-based

Application

  • Steel Production
  • Construction

Form

  • Lumps
  • Pellets

Region

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

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Know More About FMI’s DRI Market Report

A new market study by Future Market Insights (FMI) on the global Direct Reduced Iron (DRI) market provides deep dive analysis into DRI production and consumption trends on a global level as well as country level. The study gives in-depth analysis into market trends for DRI through four different segments- form, application, production process and region. The DRI research report also offers key insights into DRI cost structure analysis, BEP analysis, DRI transportation costs, DRI production costs, profit per ton analysis, export hotspots and trade routes, import/export trends and probable list of customers.

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Sodium Chloride Market is anticipated to reach a valuation of US$ 61.71 Bn by 2031

The sodium chloride market is projected to showcase a moderate growth rate of 4.2% CAGR over the forecast period of 2021 – 2031 as per the analysis by Future Market Insights (FMI). The market will be driven by rising demand from various industries including chemicals, food and beverages, oil and gas, industrial, deicing, and water-treatment.

Globally, the chemical industry facilities have been the leading consumers of sodium chloride in recent years.  In North America and Europe, de-icing and food & beverage industries have emerged as key end users of sodium chloride.

While the market will grow at a steady rate over the next decade, the novel coronavirus (COVID-19) outbreak has left a detrimental effect. The pandemic is expected to affect consumer spending across various sectors such as food and FMCG.

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Furthermore, industrial salt is economically viable as compared to natural salt, which is further catalyzing the growth of the industrial salt sector. Chlorine is used as a primary source for chlorine and sodium hydroxide production, as it is extensively available and inexpensive.

Growth in the commodity chemicals market is expected to drive the consumption of solid sodium chloride, which in turn is expected to fuel the demand in the coming years. As such, the annual growth rate of the sodium chloride market is slated to decline during 2020-21, but is poised for sharp recovery over the next financial year.

Key Takeaways from Sodium Chloride Market Study

  • Driven by application across diverse industries, the global sodium chloride market is expected to rise at 4.2% CAGR between 2021 and 2031.
  • Expansion of the chemicals industry will create growth opportunities for the market. The chemical industry is likely to account for over 30% sales in the market by 2021.
  • China is a leading market for sodium chloride and is expected to reach a valuation of over US$ 8.4 Bn in 2021, owing to expansion in the chemical industry and rising food applications.
  • The U.S. will emerge as a key market, accounting for 80% sales in North America. The expansion of food processing sector will drive growth in the U.S.
  • Germany is a leading market for sodium chloride in Europe. Its valuation is expected to surpass US$ 1.3 Bn in 2021, owing to its role as a production and processing hub in the region.

“Sodium chloride production is anticipated to contract during the COVID-19 pandemic. However increasing production in parts of Europe and APAC is expected to stabilize supply shortages. Moreover, positive growth trends in multiple end-use industries are expected to drive the growth of the market over the coming decade,” says an analyst of Future Market Insights.

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Who is Winning?

The global sodium chloride market has been identified as a significantly fragmented market, with the large international players accounting for a limited share of the overall industry.

Market leaders are focusing on strengthening their product portfolio and expanding their market footprint through the acquisition of small-scale enterprises in the landscape.

Key manufacturers in the sodium chloride market include but are not limited to Cargill Incorporated, Compass Minerals International, K+S AKTIENGESELLSCHAFT, Wacker Chemie AG, Akzo Nobel N.V., Tata Chemicals Limited, Südwestdeutsche Salzwerke AG, INEOS GROUP HOLDINGS S.A., Dampier Salt Limited, Hindustan Ltd, Aashirwadh, Annapurna, Saboo Sodium Chloro Ltd, Hindustan Salts Ltd, Nirma Ltd., Merck KGah, GHCL Ltd., VM Chemicals, and Anish Chemicals.

Sodium Chloride Market Segmentation by Category

By Grade Type

  • Agricultural
  • Food
  • Industrial
  • Pharmaceutical

By Source

  • Sea Water & Brine
  • Solid

By product Form

  • Liquid
  • Solid

By End Use

  • Agriculture
  • Chemicals
  • Deicing
  • Food & Beverage
  • Industrial
  • Leather Industry

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More Valuable Insights

Future Market Insights, a research and consulting firm has published a market research report on the Sodium Chloride market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in-depth analysis of the market through different segments, namely, type, end use, and region. The report also provides supply and demand trends, along with an overview of the parent market.

Electronics Cleaning Solvents Market sales to reach a value of US$ 1,696.6 Mn by 2029 end

Electronics cleaning solvents add to the functional quality and longevity of electronic components and products; hence, these have been gaining higher importance in the electronics industry. Certain solvents also impart high insulation resistance characteristics to components and devices, which boots their demand for electronics cleaning. The electronics cleaning solvents market is constantly advancing, and superior methods and products are being developed to concur with advancements in the electronics field.

The introduction of low-cost electronics cleaning solvents, such as hydrofluoroethers (HFEs), which are designed to effectively remove solder flux residue from printed circuit boards, along with their environmental and safety advantages over chlorinated solvents and ozone-depleting hydro-chlorofluorocarbons (HCFCs), is expected to drive the demand for electronics cleaning solvents further. The global electronics cleaning solvent market is projected to exhibit a value CAGR of 5.9% during the forecast period of 2022-2029.

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“Stringent regulatory environmental norms have compelled manufacturers to focus on products that result in minimal ozone depletion and contribution to global warming. One such product type, fluorinated solvents, is witnessing significant demand, and is expected to establish higher prominence in the electronics cleaning solvents market until a better alternative surfaces.”

Key Takeaways of Electronic Cleaning Solvents Study

  • Fluorinated solvents product type is anticipated to grow at a healthier rate. Its market share is projected to increase due to its zero ozone depletion potential, low global warming potential, and high solvency.
  • The separated co-solvent process uses formulated hydrocarbon solvents as cleaning solvents, and is extensively used in the PCB industry, owing to the extraordinary cleaning results it provides.
  • Formulated hydrocarbon solvents have developed new opportunities in the electronics cleaning solvents market over the years, and the segment is projected to witness strong market growth, supported by rising preference for this type in PCB and electronic industries.
  • APEJ and Japan, together, have established a lion’s share in the electronics cleaning solvents market, owing to the expanding electronics and electrical industry in the region. Together, the region holds over 70% of the electronics cleaning solvents market share. Moreover, the electronics industry in the region is still at a growing stage, and is anticipated to flourish over the coming years.
  • The electronics industry is focusing on electronics miniaturization; hence, nanotechnology and micro electromechanical systems (MEMS) are growing in functionality as well as acceptance in a majority of applications among various industries such as consumer electronics, automotive, aerospace, medical devices, and others.

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Market Landscape Moving towards Fragmentation

The electronics cleaning solvents market is partially consolidated, with the presence of a large number of market players in both, tier I and II brackets. However, as the electronics industry is becoming highly competitive and fragmented year-by-year, the electronics cleaning solvents market is also anticipated to move towards fragmentation.

As the number of tier II and III players in the end-use sectors increases, the market is bound to witness an increase in tier II & III manufacturers to cope up with the increase in demand at variable prices.

3M, Albemarle Corporation, Asahi Glass Co. Ltd., LyondellBasell Industries Holdings B.V, Honeywell International Inc., Dow Chemical Company, Chemours Company, and Solvay SA, BASF SE are some of the established manufacturers in the electronics cleaning solvents market. Tier I participants are anticipated to face strong competition from tier II & III players over the foreseeable future.

Electronics Cleaning Solvents by Category

By Product:

  • Formulated Hydrocarbon Solvents
  • Glycols & Glycol Ethers
  • Fluorinated Solvents
  • Brominated Solvents
  • Light Petroleum Distillates

By Cleaning Process:

  • Vapor Phase Degreaser
  • Vacuum Cleaning
  • Mixed Co-solvent
  • Separated Co-solvent
  • Semi-aqueous

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By Region:

  • North America
  • Latin America and Middle East & Africa (LAMEA)
  • Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan

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Potassium Sulphate Market is anticipated to grow with ~5% CAGR throughout the forecast period of 2022-2029

A recently published market study by Future Market Insights (FMI) on the potassium sulphate market integrates the global industry analysis for 2014-2018 and market opportunity assessment for the forecast period of 2019-2029. The market study divulges fundamental insights and provides an in-depth market analysis for the historical as well as forecast period. As per the market valuation in the report, the global potassium sulphate market is estimated to witness noteworthy growth due to growing demand from the agricultural sector.

The global potassium sulphate market was valued at ~US$ 4.0 Bn in 2018 and is anticipated to grow with ~5% CAGR throughout the forecast period of 2019-2029.

Consumption of fertilizers is directly related to agricultural production and indirectly to increasing global population; higher the population more will be the requirement for food. On the other side, loss of crops due to unforeseen seasonal changes and calamities will further deepen the food supply at the global scale. Changing eating habits such as increasing meat consumption, have increased the requirement for feed grains leading to increased fertilizer usage. Vegetables and fruits constitute about 27% of the total production and require chloride-free fertilizers for healthy growth. Thus, growing cultivation of vegetables and fruits, especially citrus fruits and melons, is expected to be the prime factor driving the growth of the potassium sulphate market.

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Over the last few years, the production of specialized crops has registered a significant growth, primarily driven by the population growth and changing consumer preference for healthier diets. Increase in production of such specialized crops is expected to drive the demand for potassium sulphate market over the forecast period.

Lucrative Growth Opportunities in Asia Pacific and Middle East & Africa

Developing regions, such as Asia Pacific, Middle East & Africa, and Latin America are slated to witness strong growth during the forecast period. Agriculture-based economies, focus on boosting agricultural output, and countries with low percent of arable land to total land make the regions of Asia Pacific and the Middle East & Africa prominent markets for potassium sulphate. Countries in North Africa & Central Africa present a wide opportunity for the usage of potassium sulphate as a fertilizer to boost agricultural production and reduce dependability on food imports in the region.

In developed regions such as North America and Europe, potassium sulphate is gaining traction for its exceptional performance and less toxic effects, especially in dry conditions. Owing to the growing preference for high value fertilizers, North America and Europe are expected to be potential markets for potassium sulphate.

Fruit and Vegetable Cultivation to Remain Prominent Application Area

The global potassium sulphate market has been classified on the basis of product form type and application, along with regions.

  • Based on form, granular form of potassium sulphate remains a prominent choice, and is anticipated to hold a more than half of the global potassium sulphate market share throughout the forecast period. The demand for granular form is mainly driven by its cost-effective nature as well as various attributes such as optimum amount of potassium and sulphur content.
  • Growing application of potassium sulphate in fruit crop is expected to contribute a major share to the manufacturers’ bottom lines. Collectively, fruits, vegetables, and tree nut segments are expected to hold ~70% of the total value share. In the recent years, people are becoming more and more health conscious and thus, consuming more fruits, tree nuts and, green vegetables, which in turn, is driving the demand for potassium sulphate.

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Potassium Sulphate Market: Manufacturer Insights

According to the FMI analysis, the global potassium sulphate market is moderately consolidated with some of the global players holding prominent share in the global potassium sulphate market. The global potassium sulphate market report sheds light on few of the prominent players in the global potassium sulphate market. Some key players operating in the market are SDIC Luobupo, K+S Kali GmbH, Tessenderlo Group, Ching Shiang Chemical Corporation, and Compass Minerals, among others.

Market Taxonomy

Application

  • Tree Nuts
  • Fruits
  • Vegetables
  • Tobacco
  • Others

Product Form

  • Granular
  • Powder
  • Liquid

Region

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

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Sulphur Bentonite Market sales to reach a valuation of US$ 279.7 Mn in 2029

Up from the global market value of US$ 188 Mn attained in 2021, sales of sulphur bentonite will observe promising growth during the forecast period, 2022 – 2029. A new market research report by Future Market Insights (FMI) on the sulphur bentonite market forecasts a promising growth outlook for the market during the decade-old period of projection. Demand from China would account for nearly 50% of total market value towards the end of 2029.

The report opines that market growth will be primarily driven by rapid growth in demand for increased crop yield. Application will be promising in oilseeds, fruits and vegetables, cereals, pulses, crops, lawns, turf, and trees.

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Key Takeaways – Sulphur Bentonite Market

  • Sulphur bentonite remains among the most intense sulphur carriers that helps in boosting crop yield and field productivity.
  • Sulphur bentonite is widely used as a fertilizer for numerous crops, cereals, vegetables such as oil seeds, rice, corn, onion, and citrus fruits.
  • Growing concerns regarding balanced plant nutrition and a significant increase in production and crop yield with the use of sulphur bentonite are projected to create traction in the market.
  • Asia Pacific (APAC) will hold a significant value share in global sulphur bentonite market, owing to the large agricultural base in the region.
  • China’s supremacy would further continue to solidify the position of APAC as an attractive market.

With cultivating land soils facing continued sulphur deficiency, it is likely that sulphur bentonite consumption will be on an upward trend through the foreseeable future. The progressing local and foreign investment scenario in agriculture will also fuel the growth of sulphur bentonite market.

Oilseeds to Remain Key Application Area

Based on the market analysis by application, oilseeds are projected to hold significant value share in global sulphur bentonite market. The use of sulphur bentonite as a fertilizer for oilseeds such as rapeseed, soybean, groundnuts, and sunflower will see significant growth over the forecast period. This can be attributed to the increase in crop yield and oil content with the use of such fertilizers.

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However, the cereals, pulses, and crops segment is estimated to experience lucrative growth opportunities in the market. The fruits and vegetables segment is estimated to grow at a high CAGR. The growing production of fruits and vegetables such as onion, garlic, ginger, and citrus fruits in the region is also projected to drive the market demand. Applications such as lawns, turfs, trees, and others are projected to remain niche application segments.

Sulphur Bentonite Market – Key Vendor Insights

The report presents some of the key market players, who are known as leaders in the global sulphur bentonite market. Some of the prominent players operating in the global sulphur bentonite market are Tiger-Sul Inc., National Fertilizer Limited, NEAIS, Coromandel International Limited, Sohar Sulphur L.L.C, Deepak Fertilizers and Petrochemicals, Coogee Chemicals Pty Ltd., H Sulphur Corp, Galaxy Sulfur, LLC, Montana Sulphur & Chemical Co., Zafaran Industrial Group Company, ABU DHABI FERTILIZER INDUSTRIES CO. W.L.L., and Devco Australia.

Sulphur Bentonite Markey by Category

By Application:

  • Oilseeds
  • Cereals, Pulses, and Crops
  • Fruits and Vegetables
  • Lawn, Turfs, Trees and Others

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By Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific
  • Middle East & Africa

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Countertop Market is projected to total US$ 709.7 Bn by 2026

The global countertop market is exhibiting a steady growth throughout the world due to a rise in the disposable incomes and a rise in the employment levels, especially in the key markets of North America and APEJ. Also, with a renewed impetus that is being witnessed in the construction industry, the global countertop market is also benefitting due to this trend as most of the new countertops are installed in the kitchens of new homes and in the renovation of the old homes as well.

Also, with the interest rates historically low in the key market of United States, and with the banks being generous in extending the line of credit to the consumers, there is a rising amount of money being spend on the construction and renovation of homes, thereby directly benefitting the global countertop market.

In addition, the consumers are increasingly preferring granite stone as their choice of countertop, due to the fact that the prices of granite are dropping.

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This is especially true for the markets in the United States, where there is a huge availability of granite stone in the mass markets due to a plethora of supply because of the rising low cost imports of granite during the last decade. This factor, coupled with the fact that consumers are preferring granite due to its high aesthetic appeal, is making the granite stone most popular choice for the countertops.

The global countertop market is slated to reach a valuation of US$ 709.7 Bn in the year 2026 and exhibit a moderate CAGR during the period of forecast.

4 Forecast Highlights on Global Countertop Market

  • As per the forecast of Future Market Insights, the solid surfaces material type segment is slated to touch a value of nearly US$ 34,750 Mn in the year 2026. This represents a moderate CAGR growth during the assessment period of 2022-2026. The solid surfaces material type segment was estimated to account for nearly one-fourth of the revenue share of the material type category by the year 2022 and is expected to lose in market share by the year 2026 end.
  • As per the assessment of Future Market Insights, the non-residential segment will reach a valuation of nearly US$ 101,060 Mn in the year 2026. This represents a robust CAGR growth during the period of assessment. The non-residential segment was estimated to account for more than two-thirds of the revenue share of the end use industries category in the year 2022 and is expected to gain market share by the end of the year 2026.
  • As per the estimates of Future Market Insights, the new construction segment is slated to reach a valuation of nearly US$ 94,850 Mn in 2026. The new construction segment is expected to gain market share by the end of the year 2026. The largest share is contributed by the APEJ region in the new construction segment.
  • Future Market Insights forecasts the US countertop market to grow from US$ 16,928.6 Mn in 2022 to US$ 25,707.9 Mn in 2026. This represents a compound annual growth rate (CAGR) of 4.8% from 2022 to 2026.

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Competition Landscape

The report has also profiled leading players in the global market for countertops, which will remain active through 2026. These include companies such as Cambria, E. I. du Pont de Nemours and Company, Caesarstone Ltd., Asian Granito India Ltd., Pokarna Ltd, AKG Group, Illinois Tool Works Inc., Aro Granite Industries Ltd., Cosentino Group, Vicostone and Silestone.

Countertop Market by Category

By Material Type:

  • Granite
  • Solid Surfaces
  • Laminates
  • Engineered Quartz
  • Marble
  • Others

By End Use Industries:

  • Residential
  • Non-Residential

By Construction Activity:

  • New Construction
  • Renovation

By Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

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