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The global plastic market is expected to attain a valuation of US$ 712 billion in 2023 and is projected to reach US$ 1050 billion by 2033, expanding at a CAGR of 4% during the forecast period.

The demand for plastic market is surging across diverse industries, including food & beverage, consumer goods, automotive, and electrical & electronics. Global product consumption is being driven by the growing need for packaging material in the food & beverage sector.

Food manufacturers seek packaging that preserves food quality and prevents contamination, and plastic’s barrier properties make it a favored choice, bolstering its demand. Further, the versatility and durability of polymers are driving their use in sports, fashion, polymer clay, and toy-making. They are easily moldable, allowing flexible packaging in various shapes and sizes.

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In textiles, their high elasticity, durability, and visual appeal contribute to their rising utility. Additionally, their rigidity makes them suitable for packaging automotive and electrical spare parts. Further, these expanding applications across multiple industries, including food & beverage, textile, electrical & electronics, automotive, and consumer goods, are fueling the growth of the plastics industry.

The demand for engineering polymers has surged due to their superior strength and durability compared to standard polymers. These light, cost-effective materials also offer enhanced thermal and mechanical properties. Increasingly, industries seek better polymer solutions for applications in building, machinery, and componentry. While the need for metal substitutes further drives the use of engineering polymers.

Various sectors, including automotive engineering, building, solar, and water, benefit from the advantages these materials provide over metal constructions. Leading international OEMs, like Volkswagen, have already adopted engineered plastic materials as replacements for metal parts, leading to significant weight reductions, such as a 40% decrease in weight achieved with Volkswagen’s crankshaft covers.

The substitution of metals with plastics, due to their strength, flexibility, and reliability, is driving market growth. Moreover, advanced and cost-effective plastics are finding increased applications across industries, further supporting market expansion.

Plastics can be tailored with superior physical and chemical qualities compared to metals through specialized design processes, contributing to industrial growth. Their lightweight nature makes them ideal for transportation applications, improving fuel efficiency and stimulating market growth.

Key Takeaways

• The demand for plastic in the Asia Pacific is projected to rise with a promising CAGR of 4.3% during the forecast period.
• The market in the United States is anticipated to expand with a CAGR of 4.1% during the forecast period.
• The market in the United States is projected to be worth over US$ 90.5 billion in 2023.
• By end-use, the packaging industry segment is expected to generate demand with a CAGR of 4.7% during the forecast period.

“The substitution of metals with plastics and growing demand for packaging materials is expected to drive market growth during the forecast period,”– comments an FMI Analyst

Competitive Landscape

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

Recent Developments in the Plastic Market

• In January 2023, BASF announced an investment to expand the capacity for polymer dispersions at its manufacturing facility in Merak, Indonesia.
• In January 2023, SABIC reaffirmed its commitment to the circular economy by announcing plans to produce one million metric tonnes of TRUCIRCLETM solutions annually by 2030.
• In December 2022, SABIC, a prominent player in the diversified chemical industry, launched a novel high-density polyethylene (HDPE) containing mechanically recycled content. This release is part of TRUCIRCLETM, the company’s initiative to promote a circular economy for plastics.
• In January 2023, Evonik unveiled IN VIVO BIOTICSTM, a scientifically supported line of synbiotic products.
• In February 2021, ExxonMobil successfully concluded the initial phase plant trial of its patented advanced recycling process in Texas, U.S.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global plastic market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the plastic market, the market is segmented based on product, application, end-user, and region.

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Key Companies Profiled

• BASF SE
• SABIC
• Dow Inc
• DuPont de Nemours, Inc
• Evonik Industries
• Sumitomo Chemical Co., Ltd.
• Arkema
• Celanese Corporation
• Eastman Chemical Company
• Chevron Phillips Chemical Co., LLC
• Lotte Chemical Corporation
• Exxon Mobil Corporation
• Formosa Plastic Corporation
• Covestro AG

Key Segments Profiled in the Plastic Market Industry Survey

By Product :

• Polyethylene (PE)
• Polypropylene (PP)
• Polyurethane (PU)
• Polyvinyl chloride (PVC)
• Polyethylene terephthalate (PET)
• Polystyrene (PS)
• Acrylonitrile butadiene styrene (ABS)
• Polybutylene terephthalate (PBT)
• Polyphenylene Oxide (PPO)
• Epoxy Polymers
• Liquid Crystal Polymers
• Polyether ether ketone (PEEK)
• Polycarbonate (PC)
• Polyamide (PA)
• Polysulfone (PSU)
• Polyphenylsulfone (PPSU)
• Others

By Application :

• Injection Moulding
• Blow Moulding
• Roto Moulding
• Compression Moulding
• Casting
• Thermoforming
• Extrusion
• Calendering
• Others

By End-use :

• Packaging
• Construction
• Electrical & Electronics
• Automotive
• Medical Devices
• Others

By Region :

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

The global ready-mix concrete market is expected to accumulate over US$ 696.2 billion in 2023 and is projected to reach US$ 1488.74 billion by 2033, trailing a CAGR of 7.9% during the forecast period.

The growing need for rapid construction across residential, commercial, industrial, and infrastructure sectors is projected to fuel the ready-mix concrete (RMC) market.

The advantages of ready-mix construction, including cost savings on labor and site supervision, as well as simplified pouring techniques, are likely to attract a larger consumer base in the near future. Moreover, the construction industry’s rising investments in countries like Mexico, China, India, Singapore, and South Korea are expected to contribute to the growing demand.

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Ready-mix concrete is being increasingly embraced for various construction applications, including manufacturing facilities, residential and commercial buildings, power generation facilities, and road construction. The growth of infrastructure sectors worldwide, combined with rapid urbanization, is the key factor expected to drive industry expansion in the foreseeable future.

The market expansion is propelled by the growth of the construction industry, driven by increased income in both developed and developing nations. This surge in income has led to a higher demand for concrete, as more structures and housing projects are being built. The construction industry is undergoing significant transformations due to rapid economic growth, with a growing preference for ready-mix concrete due to its convenience and quick application. Primary market drivers include China, India, Japan, and other Asian countries, where population growth fuels the demand for residential buildings.

The shift of industrialization from western regions to the Asia-Pacific directly supports the construction industry’s development, leading to the expansion of the ready-mix concrete market. Furthermore, urbanization contributes to the growth of infrastructure facilities, playing a crucial role in the market’s expansion.

Government-led modernization efforts in developing countries, aimed at addressing infrastructure gaps, improving education and healthcare systems, and enhancing sanitation and water standards, serve as a significant driver for growth. These initiatives highlight the emphasis placed by respective governments on strengthening sustainable mining solutions and advancing technology, productivity, and safety measures.

Key Takeaways

• The market in United States is projected to grow with a CAGR of 8.1% during the forecast period.
• Asia Pacific is expected to accumulate over 38.7% market share by end of 2023.
• The market in Asia Pacific is expected to grow with a CAGR of 8.5% during the forecast period.
• By product type, infrastructural construction segment is expected to generate demand with a CAGR of 8.8% during the forecast period.

“Growing industrialization and construction activities are expected to drive market growth during the forecast period” – comments an FMI Analyst

Competitive Landscape

The market for ready-mix concrete is characterized by intense competition, as notable industry players are making significant investments to enhance their manufacturing capabilities.

Some recent developments in the ready-mix concrete market are:

• In September 2022, the Adani Group acquired Ambuja Cements and ACC Ltd from Holcim India for approximately US$ 6.50 billion.
• In March 2022, ACC Limited unveiled ACC Airium, an innovative climate control concrete system designed for thermal insulation.
• Lafarge Algeria introduced Chamil reduced CO2 cement in September 2022, featuring locally sourced clay and ferrous materials.
• Ramco Cements launched its fifth manufacturing plant in Andhra Pradesh in September 2022, expanding its reach to customers in Andhra Pradesh, Karnataka, North Tamil Nadu, Maharashtra, and Madhya Pradesh.
• ACC Limited launched four new ready-mix concrete products in April 2021: ACC thermofillcrete, ACC Suraksha NX Antiwashout Concrete, ECOPact, and ACC ADMIX.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global ready-mix concrete market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the ready-mix concrete market, the market is segmented on the basis of production, product type and region.

Key Companies Profiled

• CEMEX S.A.B. de C.V.
• Vicat SA
• Ultra Tech Cement Limited
• Lafarge
• ACC Limited
• Barney & Dickenson, Inc.
• SIKA Group
• Heidelberg Cement
• Holcim Ltd.
• Italcementi Group

Key Segments Profiled in the Ready-mix Concrete Market Industry Survey

By Production:

• On-Site
• Off-Site

By Product Type:

• Residential
• Non-Residential
• Infrastructural
• Commercial
• Industrial

By Region:

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

The global sodium nitrite market is anticipated to reach a valuation of US$ 612.9 Million by the end of 2032, exhibiting an average CAGR of 4.3% for the forecast period of 2022 to 2032. The sodium nitrite market is expected to reach an estimated US$ 401.76 Million in 2022. The accelerated rise in demand for sodium nitrite in meat curing applications along with its rising usage in other industry verticals like pharmaceutical, food & beverage, textile, and others promote growth for the sodium nitrite market.

Growing inclination for organic products has resulted in farmers opting for organic farming techniques. Consequently, a considerable rise in the sales of sodium nitrite has been noted. The governments of various countries across the world also promote organic farming which has enhanced market prospects for sodium nitrite. Additionally, rising awareness of adverse effects of chemical fertilizers is also opening up multiple market avenues for sodium nitritae.

Since sodium nitrite is primarily used as a preservative, its demand in sectors like food and beverage and meat processing is quite high. It also acts as a color fixative and deters the growth of harmful bacteria which propels its demand in the meat processing industry. The pharmaceutical industry, too, is responsible for the target market expansion.

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“Surging demand from the meat processing industry along with growing inclination for organic products will likely augment the growth of the market over the forecast period,” says an FMI analyst.  

Key Takeaways:

• Illnesses associated with excess consumption of sodium nitrite impede market growth.
• Asia Pacific dominates the market accounting for 74.3% of market revenue in 2022.
• Food & beverage sector to propel market growth in China.
• In 2022, Europe is the second largest market revenue generator.
• By application, food additives segment is leading the market.

Competitive Landscape 

Deepak, Airedale Chemical Company Ltd., BASF SE, Shijiazhuang Fengshan Chemical Co. Ltd., Ural Chem JSC, Linyi Luguang Chemical Co. Ltd., Radiant Indus Chem Pvt. Ltd., Ying Feng Yuan Industrial Group Limited, SABIC, Chemtrade Logistics, and others are some of the major players in the sodium nitrite market profiled in the full version of the report.

Major market players are consolidating their efforts on R&D activities. Again, they employ strategic target market growth tactics like expansion, product launches, joint ventures, and partnerships to strengthen their sodium nitrite market position and gain an extensive customer base.

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More Insights into the Sodium Nitrite Market Report

In its latest report, FMI offers an unbiased analysis of the global sodium nitrite market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on application (food & beverage, corrosion inhibitors, dyes and pigments, pharmaceuticals, others), and region.

According to the latest FMI reports, based on regional growth, China is expected to register considerable growth in the sodium nitrite market over the forecast period. This growth is attributed to its vast food & beverage industry. Adoption of a hectic lifestyle and eating habits have made China the largest consumer of food and beverages. This fact is likely to supplement regional target market growth.

India’s sodium nitrite market will likely record significant growth as it is the world’s largest generic drug provider for sodium nitrite. Thus, the advancing pharmaceutical industry is expected to positively influence the regional sodium nitrite market. China and India are the major growth drivers for the Asia Pacific sodium nitrite market. The market in the Asia Pacific region is predicted to record a 4.7% CAGR over the assessment period.

Europe is counted as the second largest sodium nitrite market, holding 17% market revenue share. Since many chemically derived food & beverage products are restricted in this region, the sodium nitrite market is availed plenty of opportunities.

Based on segmentation, food & beverages application is anticipated to lead the market, accounting for 24% of market share. This is due to high use of food additives in the poultry and meat sector.

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:       

Nandini Singh Sawlani  

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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In 2022, it is anticipated that the global market for concrete admixture will be worth US$ 15.1 billion. By 2032, the market will have grown at a stable CAGR of 6.1%, reaching US$ 27.4 billion. The concrete admixture market is expected to grow as a result of a noticeable increase in the usage of concrete admixture in concrete formulations for the construction of commercial, residential, and industrial structures.

Rising infrastructural needs of emerging economies, accelerated urbanization, and increasing government initiatives in the construction sector will push the construction market. This will culminate in a rise in the demand for concrete admixture.

Construction sites have high water requisites. Since it is difficult to have constant and easy access to water, water-reducing admixtures like plasticizers and superplasticizers are in high demand. Apart from removing water from concrete, plasticizers provide strength, durability, and a strong bridge between concrete and steel. Plasticizers also aid in reducing cracking, segregation, and bleeding which promotes growth. All these properties promote the growth of the market.

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“High adoption rates of ready-mix concrete and precast concrete are likely to fuel demand for admixtures like superplasticizers. This will definitely boost growth in the concrete admixture market over the forecast period,” says an FMI analyst.  

Key Takeaways:

• Plasticizers and superplasticizers will dominate the concrete admixture market.
• High demand for fast-setting concrete admixtures will propel market expansion.
• India noted a rise in demand for liquid concrete admixture.
• Concrete admixture market in India is predicted to exhibit a CAGR of 8.5%
• Rapid expansion of the construction industry in China will boost the market possibilities for the Asia Pacific.
• By application, residential segment will account for 62.3% market share during the forecast period.

Competitive Landscape 

BASF SE, SIKA AG, GCP Applied Technologies, RPM International Inc., Fosroc International, Mapei S.P.A, CICO Technologies, CHRYSO S.A.S, Pidilite Industries Ltd, Rhein-Chemotechnik GmbH, Weber Saint-Gobain, Polisan Kimya San. A.S, Shandong Wanshan Chemical Co. Ltd., CEMEX SAB de CV, and others are some of the major players in the concrete admixture market that are profiled in the full version of the report.

In a competitive market, major players in the global concrete admixture market are focused on employing alternative distribution channels. These organizations are investing in research and development activities so as to innovate their existing product line and make it more eco-friendly.

Concrete Admixture Market Regional Analysis

According to FMI reports, Asia Pacific is anticipated to monopolize the global concrete admixture market over the forecast period. Expansion of the construction industry with rising investment in infrastructure development projects and government initiatives will boost the market in China. Additionally, China has registered high demand for liquid admixture due to its high-strength properties.

The burgeoning urban population in metros and innovative development plans for non-metro cities carry significant growth potential for various end-use sectors. This is fostering an atmosphere of growth for the concrete admixture market in India. Furthermore, easy access to such cost-effective raw materials and increasing investment in non-residential projects will also boost the regional market.

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Concrete Admixture Market Segmentation Analysis

By application type, residential segmentation accounts for around 62.3% market share of the global concrete admixture market. Increasing disposable incomes and a rise in nuclear families have led to high demand for residential construction thus driving the segment’s growth.

Based on product type, the residential sector will make extensive use of air-entraining concrete admixture. This will compound the demand for the admixture. Another product type that will gain traction is the water-reducing admixture.

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:       

Nandini Singh Sawlani  

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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By 2023, the global phenoxycyclophosphazene market is anticipated to be worth US$ 147.68 million, and by 2033, it is anticipated to be worth US$ 245.88 million, growing at a CAGR of 5.2%. There are now more building and remodeling projects than ever before due to the fast urbanization and development of the world’s population. The increase in projects has fueled the need for paints and coatings, which has in turn fueled the market for phenoxycycloposphazene.

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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.

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.

Some recent developments in the phenoxycycloposphazene market are:

• In May 2021, DuPont announced a USD 5 million investment in its manufacturing units in Germany and Switzerland, aimed at boosting the production capacity of its high-performance automotive adhesives.
• In August 2021, Mitsubishi Chemical announced a USD 915 million investment to construct a new unit in Louisiana. As a prominent chemical manufacturer in Japan, the company is expanding its operations with this investment.
• In February 2023, the Mitsubishi Chemical Group (the MCG Group) revealed its plan to establish a new facility at the Okayama Plant, aimed at increasing the production capacity of GOHSENX™ and Nichigo G-Polymer™, specialty brands of polyvinyl alcohol resin (PVOH resin). The facility is set to begin operation in October 2024.

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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

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:      

Nandini Singh Sawlani 

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