Market Research Blog

FMI’s analysis projects that the automotive oil market will grow at a compound annual growth rate (CAGR) of 2.6% over the estimated period. It is anticipated that the industry will grow to a size of USD 53,523.0 million in market value by 2023.

Throughout the automotive industry, demand for engine vehicles with supreme level performance and excellent fuel efficiency is increasing. As a consequence, manufacturers have commenced using turbochargers for engines that spike the engine temperature. Such change in dynamics has fueled the demand for synthetic oil that smoothly functions even at high temperatures. Thus, augmenting the automotive oil industry.

For the downstream industries, motor oil is an extremely profitable business. The industry offers superabound opportunities for firms aiming to expand in the market. Additionally, new entrants are also seeking a gateway in the market. The acquisition of Andeavor Logistics by Marathon Petroleum Corporation for a total of US$ 23 billion is a good case in point.

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Surging demand for high-mileage vehicles is helping the automotive oil industry to progress further on. In addition, the upgradation of bolt-on and engine hardware technologies like turbochargers and gasoline to reduce emissions and enhance fuel economy is also playing a critical role in the demand for motor oil.

Elevated demand for synthetic automotive oil in developed regions like Europe and North America due to its fuel economy, less oil consumption, and prolonged oil change intervals is fueling the market growth.

Top Highlights from the FMI’s Analysis of the Automotive Oil Market: 

• The United States automotive oil industry is expected to obtain a sizable share of the market, accounting for 15.6% of the overall market in 2023.
• The German economy is witnessing healthy growth in the automotive oil industry. In the year 2023, the market is set to account for 7.2% market share in the global market.
• The Japanese automotive oil industry is expected to foresee representation of 8.1% market share in the global sphere.
• Australia is going to account for 0.4% of the entire market in 2023.
• India is going to be the most robustly advancing economy in the forecast period, observing a CAGR of 3.2%.
• China is assessed to expand at a CAGR of 2.8% over the estimated period.
• The United Kingdom is forecast to register a CAGR of 2% over the forecast period.
• By engine type, diesel is expected to acquire a market share of 56.6% in 2023.
• Based on vehicle type, the passenger cars segment is projected to acquire 39.4% in 2023.

Key Players in the Market are

• Dutch Shell
• Valvoline
• BP
• EAutomotive OilonMobil
• Total
• Fuchs Petrolub
• Petronas
• Chevron Corporation
• Ebi Gmbh
• Castrol India
• Philips 66
• Others

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Automotive Oil Market Outlook by Category

By Grade:

• Mineral
• Synthetic
• Semi-Synthetic

By Engine Type:

• Diesel
• Petrol
• Alternative Fuel

By Application:

• Passenger Vehicle
• Heavy Commercial Vehicle
• Light Commercial Vehicle
• Two Wheelers

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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The global acrylamide market is expected to grow at a steady Compound Annual Growth Rate (CAGR) of 4.1% throughout the forecast period, with projections indicating that it will reach USD 5.5 billion by 2033 and be valued at USD 3.65 billion by 2023. This growth can be ascribed to the need for efficient chemical solutions, which is driving an increase in applications across a range of industries, including paper manufacturing, cosmetics, and water treatment. In the upcoming years, technological developments and rising public awareness of acrylamide’s advantages across a range of industries are anticipated to further drive market expansion.

The global acrylamide market has witnessed steady growth over the past decade, propelled by its extensive use in various sectors including water treatment, paper manufacturing, cosmetics, and especially in the production of polyacrylamide, a key polymer used in wastewater treatment and oil recovery processes.

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Key Trends and Drivers:

1. Health and Environmental Concerns: Rising health awareness among consumers and stringent environmental regulations have prompted manufacturers to explore alternative production methods and reduce acrylamide levels in food products and industrial processes.
2. Technological Advancements: Continuous research and development efforts have led to the development of innovative technologies for acrylamide reduction and mitigation in food processing, contributing to market growth.
3. Shift towards Sustainable Practices: Growing emphasis on sustainability has encouraged manufacturers to adopt eco-friendly production processes and explore bio-based alternatives to acrylamide, fostering market expansion.
4. Expanding End-Use Industries: Increasing demand for acrylamide in industries such as water treatment, petroleum, and cosmetics, driven by urbanization, industrialization, and infrastructure development, is expected to fuel market growth in the forecast period.
5. Regional Dynamics: Asia-Pacific, led by countries like China and India, is anticipated to witness significant growth owing to rapid industrialization, urbanization, and increasing investments in wastewater treatment infrastructure.

Top Key Players in the Acrylamide Market 

• Firestone
• Complete Auto Care
• Meineke
• Jiffy Lube
• Midas
• Safelite Group
• Monro Muffler Brake
• Mitsui Chemicals, In
• Zhejiang Xinyong Biochemical Co., Ltd
• SNF Group

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Key Segments Profiled in the Acrylamide Market 

By End Use Industry:

• Water Treatment
• Oil and Gas Industry
• Paper and Pulp Industry
• Food Packaging Industry
• Cosmetics Industry
• Other End-Use Industries

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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The building thermal insulation market is projected to have a global value of USD 29,034 million by 2022. Throughout the projected period, the market is anticipated to expand at a CAGR of 4.3%. In addition, the market is anticipated to be valued at USD 44,233.7 million in 2032.

Rising commercial and residential applications to trim down the overall energy costs and increasing consumer awareness about energy consumption are expected to bolster growth in the market.

According to Indian Green Building Council, insulation building saves money and protects the environment at the same time. It enhances general comfort and decreases monthly expenditure. With the introduction of green technologies and green practices, energy savings can reach as high as 40% to 50% in the global market.

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Key Takeaways

• The industry’s focus is drastically being shifted from the environmental impact of insulation materials to the advancement of environment-friendly products. This drastic shift is due to changing consumer preferences for more advanced technologies. Furthermore, recyclable thermal insulation packs are also gaining traction due to the stringent government regulations responsible for conventional products like plastic foams.
• The growing environment awareness and surging preference for recyclable, green, and biodegradable products by homeowners, businesses, and architects are expected to augment growth in the market across the forecast period.
• There is a reasonable surge witnessed in the world for building thermal insulation attributed to the expansion of buildings and the construction sector. Thermal insulation systems help buildings in keeping a check on temperatures and make them consistent by reducing heat transmission between the adjacent environments. These efficient insulations also cut down on carbon emissions by decreasing heat transfer to the outside environment and it also needs way lesser energy to maintain temperature.
• Due to the rise in industrialization, thermal insulations are widely installed in commercial buildings in order to save energy, which is expected to spur the market size in the upcoming years. According to the U.S Census Bureau and U.S Department of Housing and Urban Development, 1,295,000 housing projects were completed. The rising construction projects are anticipated to foster the building thermal insulation market in the forecast period.
• Affordable insulation services have led consumers to buy DIY insulation products due to their affordability and being less expensive. Such DIY products are available as insulating panels and sprays designed by professionals for specific consumers who cannot afford the high-end insulation services.
• Residential construction across the world is gaining significant traction owing to the factors such as migration from rural areas to service sector clusters, the increasing trend of nuclear families, and population growth.

Competitive Landscape

Key market players are anticipating offering DIY insulation products because of their low cost and help reduce consumers’ overall market expense. In addition to that, widespread awareness of energy efficiency in residential buildings is fueling market growth. Prominent players in the market are adopting various innovative technologies that are expected to widen the market growth scope in the coming time.

Key Companies Profiled

• Rockwool International A/S
• Atlas Roofing Corporation
• Dow Building Solutions
• Principal Financial Group Inc.
• Johns Manville
• Huntsman Corporation
• Kingspan Group
• Owens Corning
• BASF SE

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More Insights into the Building Thermal Insulation Market

According to the FMI analysis, North America is anticipated to dominate the global building thermal insulation market by securing 27.3% of the total market share in 2022. The U.S. is expected to account for the largest market share owing to several initiatives taken to expand of adoption of insulation in the market.

North America is witnessing a surge in residential and commercial construction activities combined with the implementation of stringent green building codes to reduce the energy consumption per structure, which is projected to accelerate the market growth.

Europe is expected to emerge as a lucrative market by possessing a total market share of 18.1% in 2022. The growth of the European region is attributed to the initiatives taken by Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the European Commission to promote thermal insulation as a means of energy conservation.

Germany has a significant contribution to the surge in the regional market across the estimation period. According to the Main Association of the German Building Industry, the German Construction sector is likely to bring in sales of Euro 151 billion in 2022.

The Asia Pacific is expected to portray a positive growth rate throughout the assessment period, attributing the growth to a surge in construction activities in the region in order to meet the demands of a growing population. China is predicted to account for the largest market share.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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The global market for phenoxycyclophosphazene is expected to reach USD 147.68 million in 2023 and USD 245.88 million in 2033, growing at a compound annual growth rate (CAGR) of 5.2%. The rapid urbanization and population growth of the world has led to an increase in building and remodeling projects more than in the past. The market for phenoxycycloposphazene has been stimulated by the rise in projects, which has increased the demand for paints and coatings.

The sales of phenoxycycloposphazene is expected to rise due to increasing demand for automobiles. In addition, as phenoxycycloposphazene is a key component in manufacturing epoxy resins used in electronic devices, the rising demand for electronic equipment further boosts the market. Epoxy resins’ versatile applications in various industries also contribute to the increased demand for phenoxycycloposphazene. Moreover, ongoing research activities to explore new applications are fostering market expansion. Companies are actively ramping up their manufacturing efforts, further propelling the market during the forecast period.

The market for phenoxycycloposphazene is projected to witness significant growth due to its rising demand as a halogen-free fire retardant in electronics manufacturing during the forecast period. Additionally, the increasing use of phenoxycycloposphazene in paint production, driven by the growing number of construction projects worldwide, is expected to further boost market growth in the coming years. Companies are dedicated to enhancing the product’s UV light resistance. These innovations are expected to expand the application of phenoxycycloposphazene in the forthcoming years.

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Key Takeaways

• The demand for phenoxycycloposphazene in the Asia Pacific is projected to grow with a promising CAGR of 5.1% during the forecast period.
• North America is expected to generate sales with a CAGR of 4.8% during the forecast period.
• Asia Pacific is expected to accumulate over 31% market share in 2023.
• By end-user, epoxy resins are expected to generate significant demand with a CAGR of 5.9% during the forecast period.

“Increasing demand for phenoxycycloposphazene as a halogen-free fire retardant in electronics manufacturing is expected to drive market growth during the forecast period,” comments an FMI analyst

Competitive Landscape

The market for phenoxycycloposphazene is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities.

Top Key Players in the Global Market

• DuPont
• Mitsubishi Chemical
• Tianjin Zhongxin Chemtech Co., Ltd.
• Zibo Lanyin Chemical Co. Ltd.
• J & K Scientific Ltd.
• Chembridge International Corp Ltd
• T&W GROUP
• Skyrun Industrial
• Tokyo Chemical Industry Co., Ltd
• TCI EUROPE N.V

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Key Segments Profiled in the Phenoxycycloposphazene Market

By End-User:

• Epoxy Resins
• Led Luminous Diode
• Copper Clad Plate
• Paints
• Encapsulating Material

By Application:

• Halogen Free Fire Retardant

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The ethanol market is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2033, from USD 114.02 billion in 2023 to USD 178.78 billion by 2033. Previously, the ethanol industry had a CAGR of 3.9% from 2018 to 2022.

Demand is increased by the substance’s growing use as a biofuel. The increase in alcohol consumption is a major factor propelling the growth of the ethanol market.

Ethanol production can be achieved using both petrochemical and natural feedstocks. Shale gas production has notably contributed to a significant upswing in ethylene manufacturing. As oil production declines and new ethylene production facilities come online, the ethanol market becomes oversupplied with ethylene, which causes ethanol production to stagnate.

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Important Variables Responsible for the Market Growth Include:

• Ethanol’s rising popularity as a biofuel
• The surging use of ethanol in alcoholic beverages
• Alcohol-based hand sanitizers on the rise
• Revamped government initiatives for environmental pollution mitigation
• Ethanol as an industrial solvent gains traction

Ethanol’s Soaring Opportunities: A Look at Emerging Applications and Market Expansion

The main ethanol manufacturers are expected to benefit from emerging ethanol applications by creating new business opportunities. To lower total costs and cut carbon emissions, the aviation sector is concentrating on researching and developing ethanol-blend fuels.

In the future, better opportunities are anticipated due to recent ethanol uses in ignition systems and emission control in the transportation industry.

The rise in the use of ethanol-based hand sanitizers due to the coronavirus outbreak is assisting the market expansion of ethanol. The Centers for Disease Control and Prevention (CDC) suggested using ethanol because it efficiently kills bacteria, viruses, and fungi. Leading corporations are expanding their production facilities due to the easy availability of raw materials for ethanol manufacturing in developing nations.

Strict environmental restrictions regarding the usage of biofuels support the production of ethanol. Future target market expansion for ethanol is predicted to be aided by growing end-use applications in the beauty sector as a solvent and in several domestic applications.

Regional Outlook

According to the research report, North America stands out as the dominant market. The supremacy of North America in the ethanol market can be attributed to several factors. The region benefits from favorable government policies that promote the production and utilization of ethanol as a biofuel. There is a growing awareness of the environmental benefits of using ethanol, especially compared to conventional fuels, which has spurred its adoption in the region’s countries.

Asia Pacific is to witness the most rapid growth rate. This can be attributed to the expansion of ethanol manufacturing capacity in the region and prominent companies investing in ethanol production in various countries across the Asia Pacific.

Latin America’s ethanol market owes its growth to the availability of abundant feedstock for ethanol production. Brazil can play a significant role in the Latin American ethanol market’s revenue in the foreseeable future. This is primarily due to the country’s increasing production and export of ethanol, making it a leading player in the global ethanol industry.

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Key Takeaways 

• The sugarcane segment in the feedstock category to grab a share of 35% from 2023 to 2033.
• In the application category, the automobiles and transportation segment to acquire a market share of 27% between 2023 and 2033.
• The United States ethanol business to acquire a share of 15.20% by 2023.
• The Germany ethanol industry is likely to grab a share of 4.50% by 2023.
• Japanese ethanol market to hold a share of 5.40% by 2023.
• Australia ethanol industry to acquire a share of 1.8% by 2023.
• Chinese ethanol business to expand at a CAGR of 5% through 2033.
• India ethanol industry is to develop at a CAGR of 5.5% from 2023 to 2033.
• United Kingdom ethanol business to evolve at a CAGR of 4% through 2033.

Competitive Landscape

Foreign and domestic businesses are vying for a larger market share in the extremely competitive ethanol industry. Key ethanol manufacturers are altering their production tactics due to the rising ethanol demand. Businesses put much effort into ethanol marketing as a vital tactic for gaining a competitive edge.

Key Manufacturers in the Ethanol Industry

• Archer Daniels Midland Company
• Aventine Renewable Energy
• United Breweries
• Krin, The Andersons Inc.
• British Petroleum
• Advanced Bioenergy LLC
• Stake Technology
• VeraSun Renewable Energy
• Alternative Energy Sources

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Key Segments

By Feedstock:

• Sugarcane
• Corn
• Wheat
• Barley

By Application:

• Automobiles and Transportation
• Medicines
• Food and Beverages
• Fuel Cells
• Cosmetics
• Fertilizers
• Pesticides

By Region:

• North America
• Latin America
• Asia Pacific
• The Middle East and Africa
• Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The global carbon fiber composites market is projected to reach USD 39,412.1 million by 2033, capturing a significant CAGR of 6.5% during the forecast period.

Continuous developments in advanced carbon fiber composites, such as Carbon Fiber Reinforced Thermoplastic (CFRTP), and their increased use in high-volume vehicles propel industry growth.

Automotive manufacturers are investing in research and development to create advanced materials for high-volume production, enhancing production rates.

Research projects focusing on innovative carbon fibers and reducing the carbon footprint of composite material fabrication are boosting business penetration. Carbon fiber composites offer unique characteristics such as extreme strength, lightweight, corrosion resistance, and thermal conductivity, making them highly relevant in various industries. Favorable regulatory norms to reduce vehicular emissions further support market growth.

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However, challenges related to composite carbon recycling may hinder distribution efficiency. The high cost associated with the recycling process impacts the overall product cost and poses a challenge to the market’s growth.

The global carbon fiber composites market is witnessing significant growth in different regions. In North America, the market is expected to capture a 41% market share in 2022 due to the concentration of aircraft manufacturers and the increased use of composites in aircraft.

Conversely, Europe is likely to exhibit noteworthy gains in the aerospace sector with a CAGR of 7.7%. The region is the headquarters for key aerospace composite manufacturers and has a high demand from the aerospace & defense, and wind energy industries. Europe also dominates global commercial aircraft production and offshore wind energy installations.

The Asia Pacific market is predicted to expand at a CAGR of 4.7%, driven by increased vehicle production and sales, growing purchasing power, and wider cargo transport.

In terms of the matrix material, polymer-based carbon fibers are expected to dominate, reaching around US$ 21 billion by 2033, with thermosetting polymers experiencing substantial growth. Metal matrix carbon fiber composites may also flourish due to their unique properties, such as fire and radiation resistance, transverse stiffness, and durability.

The aerospace & defense segment is expected to be the primary beneficiary of carbon fiber composites demand, accounting for over 60.8% of revenue by 2022. Carbon fibers play a vital role in enhancing aircraft parts’ fatigue and oxidation resistance, particularly in the aerospace industry.

The automotive industry is also projected to grow at a CAGR of 6.4% from 2022 to 2032, driven by the increasing demand for electric vehicles and the use of carbon fiber composites to extend their range.

Competitive Landscape

Key players in the global carbon fiber composites market include Toray+Zoltek, SGL, Toho, MRC, Hexcel, Rock West Composites, Solvay, and Hengshen.

• Solvay and SGL Carbon signed a joint development agreement (JDA) in December 2019 to bring to market the first composite materials based on large-tow intermediate modulus (IM) carbon fiber. These materials clarify the need to reduce prices and CO2 emissions while improving next-generation commercial aircraft’s manufacturing process and fuel efficiency.
• Teijin Limited acquired Renegade Materials Corporation in February 2019, a North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. This contributed to the company’s position as the leading solutions provider for aerospace applications.
• Hexcel launched a new product line in May 2022 that encompasses Hexcel resin systems with bio-derived resin content with natural fiber reinforcements. To construct material solutions for Automotive, Winter Sports, Marine, and Wind Energy applications.

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Market Segmentation

Industry by End Use:

• Aerospace
• Automotive
• Wind Turbines
• Sports & Leisure
• Civil Engineering
• Marine Applications
• Other End Uses

Industry by Matrix Material:

• Polymer Matrix
  • Thermosetting
  • Thermoplastics
• Carbon Matrix
• Ceramics Matrix
• Metal Matrix
• Hybrid Matrix

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• The Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube