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Petroleum And Fuel Dyes and Markers Market is projected to grow at a moderate growth rate amid rising adulteration of petroleum and fuel across the globe

Petroleum and fuel dyes is general name for a family of aromatic substance, either organic or synthetic, which are used to add colour characteristics to gasoline and other petroleum products. These complex unsaturated substances have inherent characteristics like solubility and intense colour, and exhibits good affinity towards substrate on which it is being applied.

Petroleum and Fuel Markers, on the other hand, are colourless substances, which when added to fuel, are detected by adding a specific reagent to produce a characteristic colour, and can also be detected by placing the sample in a spectrophotometer to produce an equivalent result.

These petroleum and fuel dyes and markers are used in applications where different grades of fuels need to be distinguished, to prevent fuel adulteration and theft, and to add aesthetic appeal to fuels. Unique characteristic features of petroleum dyes and markers, and rising applications of imparting colours to fuels and petroleum products is letting the market for petroleum fuel dyes and markers to grow steadily over the forecast period.

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Global Petroleum and Fuel Dyes and Markers: Drivers and Restraints

The global Petroleum and Fuel Dyes and Markers market is projected to grow at a moderate growth rate amid rising adulteration of petroleum and fuel across the globe. Increasing number of government laws regarding fuel taxes, is driving the need to incorporate methods to distinguish fuels sold for low and no tax usage or high tax usage. Increasing air transport is another factor driving the demand for petroleum fuel dyes and markers, as many governments requires those be dyed for taxing and safety purposes. Demand for powdered dyes (markers), however is anticipated to fall over the forecast period, amid, safety concerns regarding handling of markers and higher cost associated with them.

Further rising environmental concerns regarding its usage is restraining the market to grow at a fast pace. Moreover, its association with petroleum market, is another factor affecting the prices in the market, thus imparting significant uncertainties to revenues of the key players

Global Petroleum and Fuel Dyes and Markers Market: Region Wise Outlook

The Global Petroleum and Fuel Dyes and Markers market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). As of 2015. Western Europe, leads the global petroleum dyes and markers market, owing to variegated tax structure for different usage of oils in the region. North America and Easter Europe, are another prominent market in terms of rising demand for petroleum dyes and markers. Rising cases of fuel adulteration in South East Asia countries and Mexico, is leading APEJ and Latin America to also expand with a significant CAGR over the forecast period.

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Global Petroleum and Fuel Dyes and Markers Market: Key Players

Innospec Inc.
Improchem. Pty Ltd.
Sunbelt Corporation
John Hogg & Co Ltd.
The Dow Chemical Co.
United Colour Manufacturing Co.
Authentix, Inc.
A.S. Harrison & Co Pty Ltd.
Fuel Theft Solutions Ltd
BASF SE

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.

Global Petroleum and Fuel Dyes and Markers: Segmentation

On the basis of product type,

Fluorescent dyes
Ethyl Dyes
Azo Dyes
Others

On the basis of Form,

Liquid
Positive
Solvent Blend

On the basis of application,

Gasoline
Diesel
Jet Fuel
Fuel Oil
Others

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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.

Disodium Inosinate Market are increasing demand for processed food industry, recent study By Future Market Insights

Disodium inosinate is mostly produced from fish, including meat and the disodium salt of inosinic acid. Its chemical formula is C10H11N4Na2O8P. Disodium inosinate is used as a flavor enhancer and food additive. Disodium inosinate is widely used in potato chips, instant noodles, and many other snacks. Although it can be extracted from bacterial fermentation of sucrose, it is often commercially made of animal sources. Though it is normally prepared from non- vegetarian products, but manufacturers can prepare it from tapioca starch without any non-vegetarian product used in the productions and labeled as “vegetarian” in the ingredient lists. Disodium inosinate is used as a taste enhancer, in mixture with monosodium glutamate to give the umami taste and is often mixed with foods in synergy with disodium guanylate; the mixture is called as disodium 5′-ribonucleotides. Disodium inosinate is commonly not used freely of glutamic acid. Incase disodium inosinate is existing in a list of ingredients, but monosodium glutamate does not appear to be, it is possible that glutamic acid is normally occurring in another ingredient such as yeast extract, parmesan cheese tomatoes.

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Disodium inosinate Market: Segmentation Overview

Disodium inosinate market segmentation is done by the end-use industry includes the pharmaceutical industry, cosmetics, nutraceutical, food and beverages industry and others. Among above-mentioned industry, Food and Beverage account highest market share in global Disodium inosinate market and is estimated to witness a positive growth over the forecast year. Another segmentation of global Disodium inosinate market is done based on application types such as flavoring agent, taste enhancer, and others. Among these mentioned application type, flavoring agent captures high market share in global Disodium inosinate market. Food and beverage have been the largest market for disodium inosinate for long years.

Disodium inosinate Market: Regional Outlook

By the geographies, the global disodium inosinate market is segmented into seven regions including Latin America, North America, Japan, Middle East & Africa, WesternEurope, Eastern Europe and Asia-Pacific except Japan. Among the regions, North America accounts high market share in disodium inosinate market across the globe. Western Europe is projected to expand at a high growth rate in the Disodium inosinate market, attributed to strong health consciousness among consumers and highly usage in food industry across the regions. Asia Pacific is estimated to witness a positive growth over forecast year in disodium inosinate market across the globe, attributed to emerging economy such as China, India. Due to high demand of disodium inosinate as additives in food & Beverages industry, it is predicted that Japan and North America will see a high growth rate in disodium inosinate market across the globe. Middle East & Africa is predicted to witness a slow growth rate in global disodium inosinate market, owing to low demand of disodium inosinate in that region.

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Few prominent market players of Disodium inosinate market as follow:-

Sigma-Aldrich, Inc.
Parchem fine & specialty chemicals
Zhengzhou Sigma Chemical Co., Ltd.
Wuxi Accobio Biotech Inc.
Xi’an Leader Biochemical Engineering Co., Ltd.
Shaanxi Dideu Medichem Co. Ltd

Disodium inosinate Market: Segmentation

The Disodium inosinate market can be segmented on the basis of end-use industry type, application type, and region type globally.

Disodium inosinate market can be segmented by end-use industry type globally as follows:-

Pharmaceutical
Nutraceutical
Cosmetics
Food & Beverage
Others

Disodium inosinate market can be segmented by application type globally as follows:-

Flavoring agent
Taste enhancer
others

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Sodium Chlorate Market is majorly driven by the growth in the paper and pulp industry, Exclusive Report By Future Market Insights

Sodium chlorate is primarily used for the manufacture of chlorine dioxide, which acts as a bleaching agent in the paper and pulp industry. Sodium chlorate is white/off-white in colour and is odourless. Sodium chlorate is highly soluble in water. Sodium chlorate in its pure form is inflammable but during its decomposition, it releases oxygen, hence it acts as an accelerant in presence of flammable substances. Sodium chlorate is used for the extraction of uranium and vanadium in the mining industry. Sodium chlorate is also used as herbicide in weed control application. In the recent years, sodium chlorate has been extensively utilized in the manufacture of chemical intermediates such as potassium chlorate and sodium perchlorate. The overall market for sodium chlorate is projected to remain positive, however, it will exhibit a slower growth over the forecast period due to the availability of alternatives such as hydrogen peroxide that can be used for bleaching pulp.

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Global Sodium Chlorate Market Regional Outlook

The forecast for global sodium chlorate market is expected to be positive in the coming years exhibiting slow growth over the forecast period. Asia pacific holds a dominant share in the global sodium chlorate market and is projected to remain dominant in the global market throughout the forecast period due to the large base of paper and pulp industry in the region. Moreover, China is a leading consumer of sodium chlorate. Along with paper and pulp, China has a significant base for the use of sodium chlorate in niche applications such as fireworks.

Regions such as Latin America has also exhibited significant growth in the paper and pulp industry, hence, there is a substantial demand for sodium chlorate in the region. Japan and MEA are projected to hold relatively small shares in the global sodium chlorate market.

The regions such as North America and Europe are expected to witness sluggish growth over the forecast period, 2017-2027.

Global Sodium Chlorate Market Participants

Examples of some of the market participants identified across the value chain of the global sodium chlorate market are, Akzo Nobel N.V. (Eka Chemicals), Kemira, ERCO Worldwide, Chemtrade (Canexus), Arkema, Tronox Limited, Ercros S.A and Inner Mongolia Lantai Industrial among others.

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Global Sodium Chlorate Market Segmentation

The global sodium chlorate market can be segmented on the basis of application and region.

On the basis of application, the global sodium chlorate market can be categorized as:

Bleaching agent
Oxidizing agent (chemical synthesis)
Herbicide

On the basis of form, the global sodium chlorate market can be segmented into:

Crystalline form
Solution form

On the basis of end-use industry, the global sodium chlorate market can be segmented into:

Paper and Pulp Industry
Fireworks
Chemical Industry
Mining
Aerospace and Marine
Electronics
Automotive

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Recycled Scrap Metal Market is anticipated to be driven by growing demand from automotive and construction industry, Says FMI Analyst

The global recycled scrap metal market is anticipated to expand at a steady 5.4% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Increasing production of iron and steel is boosting demand for recycled scrap metals. Growing utilization of scrap metals in steel production and in non-ferrous metals processing is further expected to boost the consumption rate of recycled scrap metals.

Rapid development of the building and construction sector also is propelling sales of recycled scrap metals. Increments in the production of automotive, shipbuilding aero plane manufacturing are also bolstering the consumption rate of recycled scrap metal.

Production and processing of ferrous as well as non-ferrous metals produces scrap. These scraps are further utilized in the processing of various products to reduce waste generation. Growing demand for waste management and initiatives taken by regional government bodies to minimize waste is expected to bolster sales of recycled scrap metals over the forecast period.

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As per FMI, the East Asia region is anticipated to be a key consumer of recycled scrap metals owing to strong production of iron and steel, especially in China. Backed by the aforementioned factors, the global recycled scrap metal market is projected to top US$ 98.5 Bn by 2031.

“Increasing production of electric vehicles in the automotive sector, along with rising sales of consumer electronics and wearables are anticipated to continue driving sales of recycled metal scraps over the assessment period,” says an FMI analyst.

Key Takeaways:

By metal type, demand for ferrous metals is expected to surge at a 5.4% CAGR over the forecast period.
The post-consumer recycled scrap metal segment is projected to hold approximately 85% of the total market share in 2021.
Applications of recycled scrap metals in the equipment and tools segment are anticipated to grow at a 4.6% CAGR through 2031.
Sales of recycled scrap metals in the U.S. are anticipated to increase by 4.9% year-over-year in 2021.
Russia will emerge as an attractive recycled scrap metals market, with sales growing at a 4.4% CAGR in 2021.
China is expected to account for over 80% of the East Asia recycled scrap metals market share in 2021.
Japan and South Korea will collectively account for 9.9% of the total recycled scrap metals market share through 2031.

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Competitive Landscape

Key market participants in the global recycled scrap metal market elaborated in the report includes ArcelorMittal, Aurubis AG, China Baowu Group, HBIS Group, Sims Metal Management Ltd., HKS Metals, Nucor Corporation, AMG Resources Corporation, Celsa Group, EMR Group, CRONIMET Holding GmbH, GLE Scrap Metal, Tucson Iron and Metal, ELG Haniel GmbH, Atlantic Recycling Group, LLC, Baroni Scrap Metal LLC, Kuusakoski Group Oy, IMR Innovative Metal Recycling GmbH, Romukeskus Oy, Commercial Metals Co (CMC), MetalCirc Oy, GMH Recycling GmbH, Eco-Bat Technologies Ltd., and Evraz plc.

Key players operating in the global recycled scrap metal market are focusing on increasing utilization of scrap metals to produce iron and steel to decrease waste generation and operating expenditure. Further, leading players are focusing on collaborations, mergers, and acquisitions to expand their production facilities and distribution channels. For instance:

In Oct 2021, Nucor launched Econiq, a series of net-zero carbon steel products. By Econiq, Nucor is providing the lowest greenhouse emission gas steel products to steel consumers.

Increasing Iron and Steel Production Boosting Recycled Scrap Metal Sales

Rapid expansion of the construction sector, automotive production, industrial machinery, tools and equipment sector, and ship building is spurring the demand for iron and steel. Investment towards infrastructure, especially in developing nations is also boosting demand for iron and steel in civil construction. This is resulting in increasing sales of recycled scrap metals, and the trend is expected to continue over the forecast period.

Significant growth in the construction and infrastructure sector in China in the past few years has boosted the consumption of iron and steel, resulting in high demand for scrap metals for the production. As scrap metal utilization helps in reducing carbon emission and waste generation, key players are preferring scrap metals to produce iron and steel. This reduces overall production cost and helps companies in achieving their sustainability goals.

China also has significantly increased its steel production in the last decade, which has boosted the demand for recycled scrap metals. Overall increase in iron and steel production is anticipated to propel the consumption rate of scrap metals in the coming years.

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More Insights into the Recycled Scrap Metals Market Report

In its latest report, FMI offers an unbiased analysis of the global recycled scrap metal 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 metal type (ferrous and non-ferrous), source (production scrap and post-consumer scrap) and end-use (transportation, building & construction, consumer electronics, packaging, equipment & tools, art, décor and home furnishing and jewelry) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

Boron Trifluoride & Complexes Market to shape the future by increasing growth in Petrochemicals; Says FMI

The global boron trifluoride & complexes market sales are anticipated to be valued at ~US$ 233 Mn by the end of 2019, witnessing a strong Y-O-Y growth of ~4.5% over the year 2018, finds a recent study published by Future Market Insights. Asia Pacific excluding Japan is projected to hold more than half of the market value share by end of 2019 and grow with a significant CAGR in the near future, opines the study.

Boron trifluoride is amongst the strongest Lewis acids (electron pair acceptor), and therefore, it finds application as a catalyst for a number of organic synthesis reactions including polymerization, alkylation, isomerization, and other chemical synthesis reactions.

A number of polymer derivatives are being made in the presence of boron trifluoride as a catalyst such as polypropylene and polyethylene. Boron trifluoride gas and its complexes are also being used for manufacturing rubber and other elastomeric polymers, which are increasingly being used across a number of end-use industries. Moreover, boron trifluoride is also used for the synthesis of different range of hydrocarbons such as aromatic hydrocarbons, unsaturated hydrocarbons, alcohols, phenols, and many others.

With growth in oil and gas and petrochemical industries in the region, through shale gas extraction, there has been tremendous growth in hydrocarbons synthesis and other chemicals, which use BF3 as a major catalyst during reaction. This, in turn, is driving the demand for boron trifluoride & complexes in the market, opines the FMI study.

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The study also finds that the demand for boron trifluoride (BF3) gas and di ethyl etherate are anticipated to grow with significant CAGRs in terms of value during the forecast period. Furthermore, the applications of boron trifluoride & complexes as catalysts are projected to grow with a healthy CAGR owing to the huge demand generated from synthetic reactions such as polymerization, alkylation, isomerization, and other chemical synthesis.

Stringent Regulations on Manufacturing of Boron Trifluoride & Complexes Could Hinder Growth

Boron trifluoride, especially in the gaseous form, is considered to be a hazardous, toxic, and very corrosive substance. Therefore, there are a number of regulations pertaining to its manufacturing, transportation, labelling, exposure limit, labelling, and others.

Packaging and transportation of the gas is done under extremely high pressure and is a major challenge for manufacturers, distributors, and end users as well. Moreover, for using boron trifluoride in the gaseous form, there must be an appropriate unloading facility at the consumers’ end, which is leading to many of the end users using boron trifluoride in the complexes form. This factor is estimated to hinder the global boron trifluoride market by the end of the forecast period.

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Boron Trifluoride & Complexes Market: Vendor Insights

The boron trifluoride & complexes market is fairly fragmented due to the presence of manufacturers at the regional level. Few of them included in the global boron trifluoride & complexes market report are – BASF SE, Air Liquide, Praxair Technology, Inc., Honeywell International Inc., Matheson Tri-Gas Inc., Gulbrandsen, Entegris, Inc., The Linde Group, Stella Chemifa Corporation, Hunan Heaven Materials Development Co., Arkema, ZIbo Shuanglian Petroleum & Chemical Co., Ltd., NAVIN FLUORINE INTERNATIONAL LIMITED, Qingzhou Chenkai Chemical Co., Ltd., ZIbo Shuanglian Petroleum & Chemical Co., Ltd., and Tanfac Industries Ltd.

Companies are focusing on mergers and acquisitions of big and small players in the market for expansion of sales and to gain competitive leverage over other players. For instance, in October 2016, the Honeywell International Inc. acquired the Research Chemicals Business from Sigma-Aldrich. The acquisition enabled the company to offer a broad line of inorganic chemicals and solvents for demanding applications.

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Boron Trifluoride & Complexes Market Key Segment

Product Type

BF3 Gas
BF3 Di Ethyl Etherate
BF3 Tetrahydrofuran Complex
BF3 Methanol Complex
BF3 acetonitrile Complex
Others

End Use

Polymers and Petrochemicals
Pharmaceuticals
Electronics
Agrochemicals
Others

Region

North America
LAMEA
Western Europe
Eastern Europe
APEJ
Japan
MEA

For additional insights on the boron trifluoride & complexes market landscape, write to the analyst at press@futuremarketinsights.com

Phthalocyanine Pigments Market is expected to support their industry growth over the coming years, Says FMI

Phthalocyanine pigments are one of the most widely used organic pigments which find their extensive utilization in the various industries including textile, paper, plastic, etc. Phthalocyanine possess intense blue-green color and also form coordination complex with almost all elements of the periodic table, which are further used as pigments or dyes. Apart from its usage as pigments, Phthalocyanine have also been examined for its use as catalysts for redox reaction. The Phthalocyanine pigments belong to the Azo Phthalocyanine groups and possess excellent dispersion and rheological characteristics. Due to this, they are highly recommended for superior quality printing inks with good gloss and tone.

Historically, the first Phthalocyanine pigment was produced serendipitously when Swiss researchers attempted to convert o–dibromobenzene into phthalonitrile. Now, owing to their superior physical and color properties, Phthalocyanine pigments have been in use for multiple uses across the globe. Copper Phthalocyanines are the most popular Phthalocyanine pigments due to its special coloristic and technical qualities which provide excellent color strength, transparency, dispersibility, and flow properties. The Phthalocyanine pigments are highly versatile and are suitable for their use in industrial, general, as well as marine and protective coatings. They are also used in wood coatings, plastic coatings, powder coatings, industrial inks, and textile applications as well. The vast application portfolio of Phthalocyanine pigments is expected to support their market growth over the coming years and their market is expected to increase at a sustainable growth rate over the forecast period of 2017 – 2027.

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Phthalocyanine Pigments Market: Dynamics

The global paints and coatings industry can be considered as the umbrella market for Phthalocyanine pigments. They find their utilization in a vast area of applications including, plastic, marine, construction, industrial equipment, and what not! The construction industry growth and high rate of urbanization are expected to affect the Phthalocyanine pigments market proportionately. The market for Phthalocyanine pigments is equally affected by the industrial as well as consumer demand pattern. The industrial growth, urbanization growth, high standard of living and growing interest of customers to depict architectural touch in buildings has led to the increasing demand of fine quality paints and coatings. The demand from industrial and general consumers has found to be shifted towards highly resilient paints and coatings with a modern taste of estheticism. This change in demand pattern is also propelling the utilization of Phthalocyanine pigments in a number of applications.

Also, commercial buildings such as hotels, office buildings, malls, etc. spend a significant share of their revenue on paints and coatings every 3–5 years in order to maintain the visual stature of their facilities. Besides, various industrial and transportation equipment also utilize different decorative and protective coatings during their routine maintenance services. The increasing number of commercial buildings getting developed every year and rocketing construction in the developing regions of Middle East and Africa, Eastern Europe and Asia Pacific is also expected to support the demand growth of Phthalocyanine pigments over the coming years.

Phthalocyanine Pigments Market: Segmentation

The market for Phthalocyanine pigments can be segmented on the basis their application, end-use, and region. Based on applications, the Phthalocyanine pigments market can segments into – plastic, paints and coatings, ink, rubber, textile, leather, soap and detergent, and other industrial.

Based on the end-use industry, the Phthalocyanine pigments market can be segmented into construction (domestic, commercial, industrial, and infrastructure), automotive and aerospace, marine, textile, and equipment and other industrial.

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Phthalocyanine Pigments Market: Regional Outlook

Asia Pacific region, owing to its vast consumer base and increasing industrial application, is expected to represent a significant market share in the global Phthalocyanine pigments market. China and India are anticipated to remain key consumers as well as supplier of Phthalocyanine pigments over the coming years. Average growth is expected from the relatively mature markets of North America and Western Europe, however, Middle East and Africa and Latin America are expected to provide good signs of growth over the forecast period.

Phthalocyanine Pigments Market: Key Players

Examples of some of the market participants present in the value chain of the global Phthalocyanine pigments market include, Mazda Colours Ltd., Alliance Organics LLP, NIRBHAY Rasayan Pvt Ltd (NRPL), Clariant International, BASF S.A., Yabang Investment Holding Group, DIC Corporation (Sun Chemical), LANXESS AG, RIVERSIDE INDUSTRIES LIMITED, Deep Group of Industries, and others.

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Growing demand of Benzylamine Market is rising, Analysis By Future Market Insights

Benzylamine is a chemical organic compound with the abridged structural formula C6H5CH2NH2. Benzylamine comprises of a C6H5CH2, benzyl group, bonded to an amine functional group, NH2. Benzylamine is a collective precursor in organic synthesis and used in the industrial production of numerous pharmaceuticals. Benzylamine is a primary alkylamine and valuable intermediate for several applications and a building block for chemical synthesis such as crop protection agents, and the production of active Pharma Ingredients which is used within the coatings industry. Benzylamine is also used as a disguised source of ammonia, and a sub component of Benzylamine that is isoquinolines are a class of compounds which are used in medical frameworks.

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Benzylamine Market: Drivers & Restraints

The major factors driving the growth of benzylamine market is growing demand of Benzylamine in wide range of application such as manufacturing paints and lacquers, pesticide, fertilizer, pharmaceuticals, and others. Moreover, growing chemical industry results to development of new technology for the manufacturing of benzylamine to meet its demand across the globe. Demand of benzylamine is rising, as benzylamine is versatile valuable intermediate for various applications and intermediate and building block in a variety of end-user industry like for the production of active pharma ingredients (APIs) and crop protection agents. In addition benzylamine is used as a masked source of ammonia, meanwhile after N-alkylation, the benzyl group can be seprated by hydrogenolysis. Therefore, it is also major source for the derivation of other chemical compound. On the other hand, the major factor restraining the growth of benzylamine market are government regulation and its strong reactional property.

Benzylamine Market: Regional Outlook

Regarding geography, Benzylamine market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Benzylamine market is expected to register healthy CAGR during the forecast period. Asia-Pacific represents the significantly high market share and grow with comparatively high CAGR in forecast period. North America is experiencing the rapid increase in the production capacity of Benzylamine as demand for Benzylamine for wide range of end-user in the region is rising at faster pace. Key factors driving the growth of Benzylamine oil market in the region include growing chemical industry, increasing infrastructure across the globe as demand of benzylamine in paints and lacquers is booming at faster pace. The benzylamine market is projected to register healthy growth due rising consumption Benzylamine in various industry for production of their end user products such as in pharmaceutical for manufacturing medicine. Benzylamine market for Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of chemical industry, and increasing production of the product type especially in China and India. In China, demand of benzylamine is booming due to its usage as raw materials of solvent, alkyl alkanolamines, and ingredients of rocket fuels.

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Benzylamine Market: Key Players

Some of the key players identified in the Benzylaminemarket are:-

BASF AG
LANXESS
Huntsman Corporation
Dow Chemical Company
Eastman Chemical Company
Others

Benzylamine Market: Segmentation

The Benzylamine market is segmented into four parts based on the industry type, application type, distribution channels, and geography.

Based on the industry type the Benzylamine market is segmented into:

Agriculture
Pest Control
Chemicals
Paint & Coatings Industry
Automotive & Transportation Coatings
Industrial coatings
Others

Based on the application type the Benzylamine market is segmented into:

Chemical Manufacturing
Manufacturing of paints and lacquers
Manufacturing of pesticide, fertilizer
Manufacturing of pharmaceuticals
Others

Based on the type of distribution channels Benzylamine market is segmented into:

Internet Retailing
Mass Retailers
Direct Selling
Others

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Oxo Chemicals Market is anticipated to bring significant revenues by increasing plasticizers demand: Analysis By Future Market Insights

Oxo chemicals are intermediate and derivative chemical compounds which are characteristically used in chemical and manufacturing processes of paints, plasticizers, coatings, adhesives and lubricant additives. They are formed by hydroformylation of olefins with a synthesis gas, which is a universal route to C3-C15 aldehydes, which are further converted to alcohol, acids and other complex compounds. As these oxo chemical play a vital role in manufacturing of various types oil surface coating, polymers and solvents, they are an integral part of construction, automotive and OEM industry. Furthermore, oxo chemicals are the most important ingredient for the manufacturing of plasticizers, which in turn are a constitutive part of automotive, plastics, cables and wires industry. Propylene-derived n-butyraldehyde and isobutyraldehyde are the most prominent oxo chemical in terms of volume sales, particularly due to rising consumption their alcohol derivatives in plasticizer industry.

With the reviving economies of developed nation coupled with ever rising industrial infrastructure among the third world countries, demand for oxo chemicals is forecasted to steadily increase over the forecast period

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Oxo Chemicals Market: Region Wise Outlook

The global oxo chemicals market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). APEJ and North America together accounts for more than half of the Global Oxo Chemical market, which is being closely followed by Western Europe. The developed nations of North America, Western Europe and Japan caters most diverse demand for different oxo chemicals, with all product types having prominent share in the demand scenario of the regions. Alcohol derivatives of n-butyraldehyde, is anticipated to witness furiously rising demand from India, China, Taiwan, North Korea and Singapore, during the forecast period. Growing infrastructure in MEA and Latin America is also expected to drive demand for oxo chemicals in these regions, and the aforementioned regions are anticipated to witness significant CAGR over the forecast period

Oxo Chemicals Market: Key Players

The Dow Chemical Company
BASF SE
BAX Chemicals BV
ExxonMobil Chemical Company
Mitsui Chemicals America Inc.
LG Chem
OXEA Group
Andhra Petrochemicals
Evonik Industries
Eastman Chemical

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Photoresist Chemicals Market: Segmentation

On the basis of Product Type,

Propionaldehyde
n-Butyraldehyde
Isobutyraldehyde
Heptanoic and pelargonic acids (C7-C9 oxo acids)
Branched oxo acids
C7-C13 plasticizer oxo alcohols
Others

On the basis of application,

Acrylates
Ether
Acetates
Esters
Plasticizers
Solvents
Resins
Others

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Rest Of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia, Rest Of Eastern Europe)
Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)

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About Future Market Insights (FMI)

Rare Earth Metals Market Value to Grow by Almost US$ 3,818.8 Mn by 2031, Exclusive Report By Future Market Insights

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.

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.

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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.

How has COVID-19 Affected the Rare Earth Metals Market?

Due to the unprecedented COVID-19 outbreak, the rare earth metals market production has suffered unintended consequences. With China being the production and distribution hub for rare earth metals, operations in major refining, surface mining, manufacturing, and logistic activities were restricted.

As per the U.S. Geological Survey, China accounted for around 80% of the exports in 2019, although the exports declined in 2020 due to the pandemic.

Rare-earth metals are used in automobiles, home appliances, electronics, and various consumer goods. The interruption in the procurement of raw material and rare-earth-enabled components from China has affected these industries simultaneously.

However, with conscious efforts, the country has successfully contained the virus spread. With little to no restrictions, China is gradually resuming its mining and production activities, accelerating the production and export of rare-earth metals which will propel the growth of the market in upcoming years.

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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)

Magnesium Metal Market revenues are set to grow at a CAGR of over 7% through 2031, Says FMI Analyst

According to a latest magnesium metal market report published by Future Market Insights, the long-term outlook of the global magnesium metal market remains optimistic. Global magnesium metal revenues are set to grow at a CAGR of over 7% through 2031.

Analysis of the Magnesium Metal Market

The use of magnesium metal and magnesium metal alloys in aircraft and aerospace applications is expected to witness a steady growth over the forecast period. Over the years, aircraft manufacturers across the globe have focussed on developing lighter and more fuel-efficient aircraft in order to adhere to stringent emission norms and regulations imposed by various regulatory bodies and associations. Magnesium metal is one of the lightest metals on Earth.

Moreover, magnesium metal is relatively more dimensionally stable, resistant to elevated temperatures, and relatively easier to process. Also, the reduction process associated with the manufacture of metals such as titanium, hafnium, uranium, zirconium, and beryllium, among others, is one of the major application areas for magnesium metal. Titanium is obtained from ores such as rutile, Ilmenite, leucoxene, and pervoskite, among others. Major steps involved in the production process of magnesium metal include extraction, purification, and sponge production.

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Magnesium Metal Market: Factors Impacting Growth

The global magnesium metal market report has been analysed on the basis of application. By application, magnesium metal is used in die-casting, aluminium alloys, metal reduction, desulphurization, and others.

The global magnesium metal market has been viewed as a high value, moderate growth type market, which is expected to follow suit during the forecast period. During the past decade, the world has witnessed a rising preference for magnesium metal, which is primarily due to its application in aluminium alloy.

The main reason for the growth of the magnesium metal market is its increased adoption rate. Increasing emphasis on automotive light-weighting is also expected to impact the magnesium metal market positively over the forecast period. Growing automotive sales and a corresponding increase in automotive /vehicle parks is expected to result in a significant increase in environmental greenhouse gas emissions.

Magnesium metal is around 65% lighter than steel and 33% lighter than aluminium. Moreover, the use of magnesium metal for automotive components results in parts that are not only lighter in weight but also relatively more dimensionally stable. Besides, several intricate and thin-walled components can be manufactured with relatively more ease vis-à-vis some of the conventional materials.

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Magnesium Metal Market: Top Participants

Some of the market participants identified in the magnesium metal market are US Magnesium LLC., Dead Sea Magnesium Ltd, POSCO, RIMA Group, Solikamsk Magnesium Works OAO, Wenxi YinGuang Magnesium Industry (Group) Co., Ltd., Shanxi Wenxi Hongfu Magnesium Co., Ltd., Shanxi Wenxi Zhenxin Magnesium Co., Ltd., and Taiyuan Tongxiang Magnesium Co., Ltd.

The magnesium metal market is a highly competitive market, consisting of tier-1 global scale manufacturers and a greater proportion of small-scale magnesium metal manufacturers catering to domestic demand. However, large industrial operations seek products from reputed magnesium metal manufacturers for demand procurement.

Key strategies employed by tier-1 magnesium metal manufacturers include the provision of effective sales and services, strategic tie-ups with regional distributors/manufacturers to foray expansion in untapped markets, and undergoing restructuring business operations to optimize the use of resources.

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Magnesium Metal Market: Segmentation

By Application

Die-casting
Aluminium Alloys
Metal Reduction
Desulphurization
Others

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excl. Japan
Middle East and Africa
Japan

For more insights on the magnesium metal market, write in to Future Market Insights analysts at press@futuremarketinsights.com