Market Research Blog

As compared to conventional concrete products, polymer concrete products have been observed to display a superior compressive strength as well as impact strength. Moreover, polymer concrete is capable of enduring high-frequency vibrations and can be used for constructing complex shapes. Therefore, use of the polymer concrete in industrial infrastructures such as waste containers, pump bases, industrial flooring blocks, chemical containments and trench drains has grown significantly over the past couple of years. Recently, Future Market Insights (FMI) conducted a study on the global market for polymer concrete and found that production of polymer concrete is likely to grow from 143,620 Tons in 2015 to 328, 0159.9 Tons by the end of 2027.

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FMI’s report titled “Polymer Concrete Market Global Industry Analysis and Opportunity Assessment, 2017–2027” reveals that currently, the market is valued at around US$ 300.5 Mn and is estimated to exceed US$ 691 Mn by 2027, reflecting a 7.9% CAGR during the forecast period (2017-2027).  The market is expected to witness an incremental $ opportunity of US$ 369.9 Mn during the same period on account of the increasing requirement of materials with high durability, chemical resistance and corrosion resistance. On the flip side, lack of product awareness continues to be a major factor, inhibiting the growth of the market.

Additional Insights from the Report Include:

• Regions such as Europe and North America are already witnessing a widespread adoption of polymer concrete material in the construction application.

• Owing to the low-cost benefit over other resins, polyester continues to be the preferred choice for manufacturing polymer concrete products. By 2017-end, polyester polymer concrete is expected to account for more than 25% market share.

• On the basis of binding agents, synthetic resins hold a major share of the market. Synthetic resins are estimated to account for around 62.4% share of the market by 2017-end. At the same time, demand for natural resin is expected to remain sluggish throughout the forecast period.

• Polymer concrete finds widespread application in building chemical containments and pump bases. Collectively, these two segments account for more than 30% value share of the market.

• In 2017 and beyond, the global polymer concrete market is expected to be massively influenced by further product innovation and new product development.

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Manufacturers of polymer concrete have channelized efforts on developing multiple desired properties in their products to gain competitive advantage, such as toughness, durability & long life, extreme chemical resistance and ease of installation of polymer concrete products. FMI in its report has profiled some of the leading companies operating in the global market for polymer concrete, which include ACO Group, Sika AG, BASF SE, and Kwik Bond Polymers LLC.

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global rare earth metals market is poised to witness steady growth at around 6% CAGR, exceeding the market valuation of US$ 3,818.8 Mn between the forecast period 2021 and 2031.

Growing consumer preference towards electronic vehicles and rapid expansion of the automotive and electronic industry are emerging as chief factors augmenting the growth of the rare earth metals market.

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Presence of high-growth potential industries including consumer goods and renewable energy in developed countries such as the U.S., the U.K., and Germany will propel sales in the market.

Permanent magnets used in wind turbines are produced from rare earth metals such as dysprosium and neodymium. Considering this, a steady expansion of wind turbine installations worldwide will create conducive environment for rare earth metals sales.

Besides this, the market will continue gaining from application in manufacturing batteries installed in electric vehicles. With electric and hybrid vehicles sales forecast to gain momentum in the coming years, the demand for rare earth metals with consistently rise.

Rising digitization and urbanization in developing countries such as China, India, and South Korea is boosting the demand for consumer electronics, which in turn is fostering sales of rare earth metals.

As per FMI, Asia Pacific excluding Japan will continue exhibiting high growth within the global market. Within the region, the Neodymium segment is likely to gain remarkable 270 basis points by 2026 in comparison to that of 2016.

China, trailed by India, will emerge as the dominant market for rare earth metals in Asia Pacific. The continued surge in mining activities, besides expansion of electronics and automotive sectors will support growth in the country.

Key Takeaways from FMI’s Rare Earth Metals Market Study

• Neodymium will emerge as the most preferred metal type throughout the forecast period.
• Permanent magnets will dominate the application-type segment.
• The U.S. will exhibit high demand due to rapid expansion of automotive and renewable energy industries.
• China will lead the rare earth metals market owing to the presence of major players and increasing production of consumer electronics.
• The U.K. will experience steady growth, which is attributable to increasing demand by various end-use industries.
• South Korea and Japan will account for nearly 14% of the market share.

“Companies operating in the market are adopting sustainable mining policies to gain competitive edge. Besides this, they are seeking approval from international organizations to aid capacity expansion,” says the FMI analyst. 

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Competitive Landscape

China Northern Rare Earth (Group) High-Tech Co., Ltd., Rising Nonferrous Metals Share Co., Ltd., Lynas Corporation, China Minmetals Corporation Limited, and Aluminium Corporation of China Limited are some leading players operating in the rare earth metals market.

Key strategies being incorporated by manufacturers include emphasis on sustainable mining practices, research, and development regarding efficient use of metals, industry-grade machinery installations, and expansion of procurement facilities. For instance:

• In December 2019, Lynas Corporation joined hands with Kalgoorlie Boulder, based out of Australia, to open a new processing plant for processing materials mined from the nearby Mt Weld lanthanide deposits.
• In June 2021, Arafura Resources Ltd., received approval and a Letter of Support from the Northern Australian Infrastructure Facility (NAIF) for the inclusion of its Nolan NdPr sites as a statutory defined area of North Australia, enhancing the sustainable mining practices in the region.

More Insights on the Rare Earth Metals Market

In its latest report, FMI offers an unbiased analysis of the global rare earth metals 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 type (catalysts, permanent magnets, metallurgy & alloys, polishing, glass, phosphors, ceramics, and others (fertilizers, pigments, defense, etc.) metal type (Neodymium, Yttrium, Dysprosium, Terbium, Europium, Cerium, Lanthanum) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan, and Middle East & Africa)

The geosynthetics market has been witnessing a phenomenal growth over the past few years. Above-average GDP growth in the developing South Asian economies such as Vietnam, India, and Indonesia has resulted in an exponential growth of construction activities, which in turn is fuelling the demand for geosynthetics across these regions. Moreover, the geosynthetics market is becoming competition-intensive, owing to the presence of a large number of manufacturers.

Key players in the South Asia geosynthetics market include Enviro Geosynthetics Pvt. Ltd., Global Synthetics Pty Ltd, NAUE GmbH & Co. KG, Polyfabrics Australasia Pty Ltd, Tensar International Corporation, Geofabrics Australasia Pty Ltd, HUESKER Synthetic GmbH, GSE Environmental, Inc., E.I. du Pont de Nemours & Co., and Koninklijke Ten Cate NV.

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India Continues to Remain the Most Lucrative Country for Geosynthetics in South Asia

Future Market Insights (FMI), in its report titled, “Geosynthetics Market: South Asia Industry Analysis and Opportunity Assessment 2017-2027” projects the global geosynthetics market to expand at an impressive double-digit CAGR of 12.6% during the forecast period in terms of volume. FMI estimates that sales of geosynthetics will surpass 1700 Mn m² in South Asia by 2027. India is expected to be the most lucrative country in South Asia geosynthetics market, followed by ASEAN (Association of Southeast Asian Nations). India is expected to account for more than 700 Mn m² sales of geosynthetics by 2027.

Polypropylene Remains the Most Sought-After Geosynthetic Material

By product type, geotextile is likely to continue its dominance over the South Asia geosynthetics market, expanding at a volume CAGR of 13.9%. Geomembrane, another prominent product type, is expected to reach 274.3 Mn m² by the end of the forecast period.

Polypropylene remained the most lucrative material in the South Asia geosynthetics market, and is expected to remain so during the forecast period. This segment is anticipated to account for 55.5% market volume share by 2027.

Separation continues to be the leading primary function for geosynthetics, whereas containment primary function is estimated to witness fastest volume growth at 14% CAGR during the forecast period.

Demand for geosynthetics from road construction sector is expected to remain robust during the forecast period. Future Market Insights estimates demand from this segment to surpass 900 Mn m² by 2027. In addition, ‘dams, riverbanks & waterworks’ will remain the second largest application segment in the South Asia geosynthetics market during the forecast period.

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Emphasis on Increasing Mining Capacity to Fuel the Demand for Geosynthetics in South Asia

Geosynthetic materials find widespread adoption in road development projects, mainly utilised for subgrade separation & stabilisation, filtration & drainage facility, base reinforcement, along with an overlay stress absorption & reinforcement. The application of geosynthetics in railway lines facilitates improved stress propagation and provides better stability. Applications in these sectors will continue to fuel the demand for geosynthetics in South Asia.

Geosynthetic materials are also witnessing robust demand from the mining industry. Emphasis on increasing mining capacity and related productivity has compelled miners in propagating deep mining. Moreover, water containment or waterproofing applications utilise geosynthetic materials, particularly geomembranes, for avoiding water absorption by forming a layer. These factors are influencing the growth of the South Asia geosynthetics market.

Several governments are focusing on investing significantly in the development of road and rail infrastructure in the South Asian region, which in turn is expected to fuel the demand for geosynthetics in this region during the forecast period. In contrast, requirement of high-cost specialised equipment, lack of skilled personnel, absence of awareness on the long-term benefits of geosynthetics among contractors and construction companies is expected to restrain market growth.

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Market segmentation

By Product Type

• Geotextile
• Geomembrane
• Geogrid
• Geonet
• Geocomposite
• Geosynthetic Clay Liner
• Others (Geofoam and Geocell)

By Material

• Polyethylene(HDPE/LLDPE, Others)
• Polypropylene (PP)
• Polyester
• Natural Fibres
• Others (PVC, Synthetic Rubber, etc.)

By Primary Function

• Separation
• Drainage and Filtration
• Containment
• Reinforcement

By Application

• Road (Paved & Unpaved
• Railways
• Retaining Walls
• Dams, Riverbanks, Waterworks
• Landfill & Erosion Control
• Others (Agriculture, Nursery, etc.)

By Region/CountryIndia

• ASEAN
• Australia
• New Zealand
• Rest of South Asia

Global demand for textile colourants was pegged at 5,972 thousand tonnes in 2016. It is projected to increase to 6,248 thousand tonnes in 2017. Demand for textile colourants is anticipated to remain steady on account of growing applications in apparel and automotive industries. Demand is anticipated to remain higher in developing countries, owing to low labour costs and infrastructure development. Asia Pacific accounted for nearly 53% revenue share of the global textiles market in 2014.

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Cotton Largest Segment by Fibre Type

By fibre type, cotton remains the largest segment, followed by nylon and polyester. Demand for cotton textile colourants was pegged at 541 thousand tonnes in 2016; this is expected to reach 561.6 thousand tonnes in 2017. Among other fibre types, acrylic is projected to grow at the fastest CAGR.

Reactive Dye Largest Segment by Dye Type

By dye type, the market has been segmented into,

• Reactive dye
• Acid dye
• Direct dye
• Disperse dye
• Basic dye

Among these, reactive dye accounts for the highest volume share of the market. Over 611 thousand tonnes of reactive dyes were consumed in 2016 – this is projected to increase to over 636 thousand tonnes in 2017. Demand for acid dye, the second largest dye type, is expected to reach 586 thousand tonnes in 2017.

Powdered Textile Colourants Preferred by Manufacturers 

On the basis of product form, the global textile colourant market has been segmented into powder, granules, paste, and liquid. Among these, demand for textile colourants in powder form is the highest, with this segment accounting for 663 thousand tonnes in demand.

Apparels Largest Application Segment

By application, the market has been segmented into apparels, household, technical textiles, automotive, and accessories. Demand for textile colourants in apparels is projected to surpass 1065 thousand tonnes in 2017.

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China to Lead Demand in APEJ

Asia Pacific excluding Japan remains the largest market for textile colourants globally. Textile colourants consumption in APEJ was estimated at 885 thousand tonnes in 2016; it is expected to grow to 925.5 thousand tonnes in 2017.

China remains the largest consumer of textile colourants in APEJ, accounting for nearly 531 thousand tonnes in 2016. This represents a market opportunity worth US$ 1.34 Bn. China textile colourants market is anticipated to grow at 5.2% in terms of value during the forecast period.

Leading companies profiled by Future Market Insights in its report include Huntsman Corporation, LANXESS AG, KRONOS Worldwide, Inc., Kiri Industries Ltd., Atul Ltd., Allied Industrial Corp., Ltd., Archroma Management LLC, DyStar Group, Standard Colors, Inc., and Dye Systems, Inc.

[272 Pages Report] Rising number of devices which are being associated through IoT network is considered as a vital factor propelling demand for embedded security for IoT. Additionally, increasing strength of cyber-attacks on IoT devices as well as on networks combined with the introduction of revised industry guidelines to utilize embedded hardware solutions are noticed as major driving factors of embedded systems for IoT. The embedded security for IoT is forecasted to move towards delivering security to hyper-connected technologies. A recent report on embedded security for Internet of Things developed by Future Market Insights (FMI) offers such critical things in it.