Market Research Blog

The yogurt market is a significant segment of the global dairy industry. Yogurt, also known as curd, is a fermented milk product produced by the bacterial fermentation of milk. It has been consumed for centuries and is known for its numerous health benefits.

In recent years, the yogurt market has experienced substantial growth worldwide. This growth can be attributed to several factors. Firstly, there has been an increasing awareness among consumers regarding the health benefits of yogurt. Yogurt is rich in probiotics, which promote a healthy digestive system and boost the immune system. It is also a good source of protein, calcium, and other essential nutrients.

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The global yogurt industry is anticipated to surge from US$ 44,808.5 million in 2023 to US$ 79,147.2 million in 2033. It is anticipated to expand rapidly between 2023 and 2033, with a CAGR of 5.9%.

Yogurt’s nutritional benefits, which include the reduction of type 2 diabetes, colon cancer, and osteoporosis risk, are expected to drive growth on a global scale. It can also help promote good digestion and strengthen the immune system.

Sales are expected to be boosted in the medium term by elements including accessibility of a wide range of tastes, awareness of yogurt’s nutritional content, and surging public awareness of the significance of a healthy diet. This is further motivating producers to focus on creating goods with unique flavors and health advantages.

Yogurt can also be found fortified with extra vitamins and minerals, making it a nutritious snack option. Recipes frequently incorporate yogurt to add taste and texture. It can be used as a taco or salad topping, as well as a substitute for sour cream or mayonnaise in dips.

Protein shakes and cereal bowls both frequently contain yogurt. Yogurt comes in a wide range of tastes, including savory flavors such as ranch and buffalo, as well as fruity and sweet ones. Yogurt sales will increase during the projected period, according to Future Market Insights, as online platforms quickly supplement in-store purchases.

Demand for yogurt is rising along with the desire for portable snacks. Yogurt manufacturers strive to advance their industries and make goods with consistent, superior potencies at affordable prices by developing new technology.

Key Takeaways from Yogurt Market Study

• The USA yogurt market is anticipated to remain dominant with 4% of the global market share during the estimated time frame.
• The global yogurt industry witnessed growth at a CAGR of 4% between 2018 and 2022.
• China yogurt market is predicted to reach a valuation of US$ 2,643.7 million by 2033.
• India yogurt industry is anticipated to expand at a significant CAGR of 9% over the forecast period.
• The United Kingdom yogurt market is set to register a lucrative CAGR of 1% in the next ten years.

“Due to significant demand for low-fat, low-sugar desserts, the yogurt market is anticipated to surge during the forecast period. Macroeconomic factors such as rising need for ice cream alternatives among kids and high health consciousness might have a positive impact on the market,” says a lead analyst at Future Market Insights.

Competitive Landscape: Yogurt Market

Due to the presence of several local and regional competitors, the yogurt industry is extremely fragmented and competitive on a global level. Key companies are using a variety of marketing tactics such as partnerships, purchases, mergers, and collaborations to stay on top. Stakeholders in the yogurt sector are more interested than ever in sustainability and certification.

For instance,

• The new Silk Greek yogurt was presented by Danone, a French multinational food products company in August 2021. There are four flavors to choose from: lemon, vanilla, blueberry, and strawberry. The business hopes to provide its clients with plant-based yogurt options with this launch.

Get More Valuable Insights into Yogurt Market

In its latest offering, Future Market Insights offers a thorough study of the yogurt market, covering historical demand data (2018 to 2022) and forecast data from 2023 to 2033.

The study provides compelling insights into the global yogurt market based on product type (yogurt drinks, Greek yogurt, set yogurt, frozen yogurt), distribution channel (hypermarkets, retailers, convenience stores, specialist retailers), and region.

Stay Ahead in the Yogurt Market. Purchase the Complete Report Today! https://www.futuremarketinsights.com/checkout/917

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

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 over 5000 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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The bromine industry is poised for significant growth, with expectations to reach a value of US$ 2.53 billion in 2023, and a substantial surge to US$ 4.7 billion by 2033. This ten-year period is projected to witness a commendable growth rate of 6.3%, reflecting the increasing demand for bromine and its derivatives across various industries. This robust expansion underscores the versatile applications of bromine in sectors such as chemicals, pharmaceuticals, and energy, which continue to drive the market’s upward trajectory.

Increased crop yields and modern agriculture have added to the need to store agricultural products for long periods of time, including vegetables, dried grains, cotton, and fruits. The effectiveness of many substances in controlling pests that degrade products stored for long periods of time has been studied.

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Factors such as geopolitics, trade policies, and reserves of bromine can influence bromine availability and supply. The efficiency and cost-effectiveness of bromine supply can be impacted by technological advancements in bromine extraction and processing methods.

The use of bromine in power plants reduces air pollution. Coal combustion releases mercury into the atmosphere, and about 40% of global power still comes from coal. Scalable batteries based on bromine ions have been developed in newer technology. As an energy storage technology, bromine is preferred due to its abundance, cost, chemistry, and performance.

Due to changes in consumer preferences, alternative materials can be developed that are free of brominated compounds. The overall economic health of regions and countries directly affects industrial activities and the demand for bromine.

The stable nature of bromine makes it an ideal choice for spas and jacuzzis. As an added bonus, bromine is much gentler on sensitive skin than chlorine. Process water is treated with bromine at major paper and pulp plants in a cost-effective and environmentally friendly manner. A Royal Society of Chemistry report states that bromine is being phased out as fire retardants and in agriculture as a result of toxicity concerns as well as environmental concerns.

Bromine resources in some African and Iranian salt lakes and lagoons have attracted the attention of a few companies. Developing and utilizing bromine resources is also possible in countries that make salt from seawater, like Australia and Mexico.

The Bohai Sea underground brine and sea salt field still uses domestic bromine production capacity as the main raw brine source. Bromine production capacity continues to decline because underground brines continue to diminish year after year.

Key Takeaways

• Global bromine demand in the United Kingdom is expected to expand at a CAGR of 1.4% during the forecast period.
• In the United States, the market is expected to reach US$ 1.3 billion between 2023 and 2033.
• A growth rate of 2.3% is expected for organobromine over the forecast period.
• China is projected to expand by 2.2% between 2023 and 2033.
• By 2033, the bromine market in India is anticipated to expand at a CAGR of 2.4% during the forecast period.

“With the growth of oil and gas drilling activities, bromine demand will likely increase. Growing pesticide demand and pharmaceutical industries will drive the market.,” says an FMI analyst.

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Competitive Landscape

As the bromine market has developed into a highly competitive environment since the beginning of this century, global demand has increased dramatically. As a result of its expanded and more cost-effective service offerings, the company will be better positioned to compete in an increasingly competitive market.

Market Developments Include

• In Febraury 2023, TETRA Technologies, Inc. TETRA has published an S-K 1300 Section 19 Report on its Investor Relations website that provides engineering, cost, and revenue assumptions based on the development of Arkansas bromine assets. Continuing to assess its inferred bromine resources in Arkansas, the Company continues to make progress.
• In September 2023, Australian-based Redflow Limited will lead the way in energy storage innovation. Commercial, industrial, and utility clients can benefit from Redflow’s zinc-bromine flow batteries that provide efficient and scalable solutions. ZBM3 Battery and Energy Pod are among the company’s flagship products.

Top Key Players in the Bromine Industry

• Israel Chemicals Limited
• Albemarle Corporation
• Tosoh Corporation
• Tata Chemicals Limited
• LANXESS AG
• Sumitomo Chemical Co.Ltd
• Perekop Bromine
• Archean Group
• Jordan Bromine Company
• Gulf Resources Inc.
• Hindustan Salts Limited

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More Valuable Insights Available

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

To understand opportunities in the bromine market, the market is segmented on the basis of Derivative Type (Organobromine, Clear Brine Fluids (CBF), Hydrogen Bromide) Application,(Biocide, Flame Retardant, Oil and Gas Drilling, Plasma Etching, PTA Synthesis, Fumigant Synthesis, Others)  End Use (Oil and Gas, Chemicals, Pharmaceuticals and Cosmetics, Electronics & Consumer Goods, Textile, Medical, Agricultural and Pesticides, Automotive, Building and Construction, Water Treatment, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).

About the Chemicals & Materials at Future Market Insights

The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

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 over 5000 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

The sourdough market has witnessed significant expansion due to several factors. Firstly, there has been a growing consumer preference for natural and artisanal food products, with sourdough bread being considered a healthier and more flavorful alternative to conventional bread. Sourdough is often perceived as easier to digest and lower in gluten content compared to other bread types, making it appealing to individuals with gluten sensitivities.

Sourdough bread has gained popularity in recent years, leading to the growth of the sourdough market. Sourdough bread is made using a natural fermentation process that involves a combination of flour and water, which forms a starter culture containing wild yeast and lactobacilli bacteria. This fermentation process gives sourdough its distinct tangy flavor and unique texture.

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The sourdough market is anticipated to expand at a CAGR of 6.3% over the anticipated time frame. According to projections, the market would be worth US$ 365.2 Mn by 2032, up from US$ 213.8 Mn in 2022.

Western Europe continues to be the largest market for sourdough, accounting for nearly 38% share of total revenues in 2022. The adoption of sourdough in Western Europe food manufacturing units continues to remain strong.

Future Market Insights estimates the Western Europe sourdough market to increase at a CAGR of 7.1% through 2032. In terms of revenues, the market is projected to grow 2X from its 2022 market valuation of US$ 1.21 Bn. In terms of volume, over 552 thousand tonnes of sourdough was sold in 2022; FMI estimates it to reach over 975 thousand tonnes in 2032.

Opportunities in the Global Sourdough Market 

• Increasing demand for clean-label products has presented a lucrative opportunity for businesses
• The use of sourdough is also gaining traction owing to its application in the preparation of foods that require fermentation

Key Supply-side and Demand-side Drivers 

• According to Future Market Insights’ report, demand for sourdough is increasing on account of its beneficial functional properties. Its property of enhancing flavour and texture is a key factor for its applications in the F&B sector, especially bakery sector
• Increase in the number of artisan bakeries is positively influencing the demand for sourdough. Particularly high demand for type 1 sourdough – made using only wild yeasts – is being witnessed in artisan bakeries
• Availability of sourdough products on e-commerce stores is also contributing to increasing sales
• Growing demand for sourdough from the fast food and bakery sector is creating sizeable growth opportunities for manufacturers

High cost of sourdough products is a major impediment to their widespread adoption in developing countries.

Key Trends Expected to Shape the Global Sourdough Market 

• Dehydrated sourdough (Type III) is gaining traction in the bakery industry. Freeze-drying remains the preferred dehydration technique for manufacturers.
• Manufacturers are using devitalised sourdough for enhancing the aroma of products. Devitalised sourdough does not contain live organisms, enhancing its use as an aromatic agent
• Consumer demand for healthy food products has resulted into the launch of chocolate sourdough loaves. Further, Future Market Insights identified increasing use of type I sourdough.

Sourdough Market Forecast and Analysis by Starter Culture 

Type III starter culture currently accounts for nearly half of the revenue share of the global sourdough market. Over 773 thousand tonnes of sourdough was sold in 2016; by the end of the forecast period, Future Market Insights estimates global volumes to surpass 1.3 million tonnes.

Key companies profiled by Future Market Insights in its report include Puratos NV, Ernst Böcker GmbH & Co. KG, IREKS GmbH, Kampffmeyer Mühlen GmbH, Philibert Saveurs, Lesaffre, Dilbeek, Minden, Kulmbach, Hamburg, Pont-de-Veyle, and Marcq-en-Barœul.

Future Market Insights maintains a positive outlook on the global sourdough market, projecting it to grow by 6.8% CAGR through 2026 in terms of value. In terms of volume, demand is projected to grow at 5.5% CAGR.

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Key segments covered in the global sourdough market report

By Application

• Bread
• Pizza
• Buns
• Cakes
• Cookies
• Waffles and Pancakes
• Others

By Region

• North America
• Western Europe
• APEJ
• Latin America
• Eastern Europe
• Middle East and Africa
• Japan

By Starter Culture

• Type I
• Type II
• Type III

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 over 5000 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

The nutraceutical industry has been experiencing significant growth in recent years, and along with it, the demand for nutraceutical excipients has also increased. Nutraceutical excipients are substances that are added to nutraceutical formulations to improve their stability, bioavailability, and overall performance.

Nutraceutical excipients encompass a wide range of substances, such as lubricants, coatings, disintegrants, binders, fillers, and flavouring agents. These excipients are required for several steps in the production of nutraceutical products, such as tablet formulation, compression, and encapsulation.

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According to latest analysis by Future Market Insights (FMI), the global nutraceutical excipients industry is valued at US$ 2,427.8 million in 2023 and it is anticipated to reach US$ 6,539.0 million by 2033. Total nutraceutical excipient sales are poised to surge at a CAGR of 10.4% from 2023 to 2033.

Rising demand for nutraceutical products across the world along with growing adoption of healthy lifestyles is a key factor expected to drive the global nutraceutical excipients industry during the forecast period from 2023 and 2033.

Consuming nutraceuticals promotes overall health and prevents the development or acquisition of diseases in individuals. Hence, people today are showing a keen inclination towards using a wide range of nutraceutical products. This in turn will continue to bolster nutraceutical excipient sales during the projection period.

Rising demand for nutraceutical products from surging geriatric population is expected to boost the global nutraceutical excipients industry

Global aging population is increasing rapidly. For instance, as per data from the World Population Prospects 2019, 1 in 6 people in the world will be over the age of 65 by 2050. As to maintain overall health, old people often consume nutraceutical products. This will positively impact the growth of the nutraceutical excipients industry

Similarly, advancements in nanotechnology, growing usage of multifunctional excipients, and rising popularity of preventive healthcare are expected to elevate demand for nutraceutical excipients in the global market.

Points of View With Value: To obtain a competitive advantage in the nutraceutical excipients market, review our sample report:
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 Key Takeaways from the Report:

• Global sales of nutraceutical excipients are forecast to increase at 10.7% CAGR between 2023 and 2033.
• By product type, binder and fillers & dilutes segments collectively hold a prominent share of the global nutraceutical excipients industry.
• Based on end use, prebiotic and probiotics segment is expected to register significant growth during the next ten years.
• Based on form, demand is expected to remain high for dry nutraceutical excipients during the assessment period.
• The USA nutraceutical excipients industry is forecast to accelerate at 7.1% CAGR between 2023 and 2033.
• Nutraceutical excipients demand in India is slated to rise at 9.8% CAGR during the next ten years.
• The United Kingdom nutraceutical excipients industry is set to reach a valuation of US$ 255.6 million by 2033.

Who is Winning?

Leading players operating in the nutraceutical excipients market include 

1. Ingredion Incorporated
2. Cargill Incorporated
3. Dow Du Pont Inc.
4. Kerry Group PLC
5. Roquette Frères SA
6. Ashland Global Holdings Inc.
7. BASF SE
8. SPI Pharma Inc.
9. Innophos Inc.
10. JRS Pharma LP
11. Hilmar Ingredients Inc.
12. Galenova Inc.
13. Others

Get Valuable Insights into Nutraceutical Excipients Market 

Future Market Insights, in its new offering, provides an unbiased analysis of the nutraceutical excipients industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study divulges compelling and detailed insights on the nutraceutical excipients industry based on product type (fillers & diluents, binders, disintegrants, coating agent, flavoring agents, lubricants), end use (protein & amino acids, prebiotics & probiotics, vitamins, and others), and form (dry, liquid) across several regions.

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Global Nutraceutical Excipients Industry by Category

By Product Type:

• Fillers & Diluents
• Binders
• Disintegrants
• Coating agent
• Flavoring Agents
• Lubricants

By End Use:

• Protein and Amino Acids
• Prebiotics and Probiotics
• Vitamins
• Others

By Form:

• Dry
• Liquid

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• 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 over 5000 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

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Banana Flakes industry are estimated to reach a value of USD 810.2 million by 2032, surging at 4.6% CAGR through the decade. The growing demand for organic goods in both developed and developing countries has a big influence on the global banana flakes market. As people become even more increasingly health–conscious across the world, there is a growing desire for healthier foods.

Consuming organic food is growing in popularity around the world as interest in organic farming methods increases. Over the next 10 years, it is projected that the market for gluten-free, organic, and nutrient-dense goods will expand, driving up demand for banana flakes.

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The growth of fast service local restaurants outlets in emerging countries including the Middle East and Africa, as well as Asia and the Pacific, has resulted in a favorable shift in demand for banana flakes industry as a healthy fast food alternative.

This trend is expected to continue and extend throughout developed regions in the coming years. Despite the fact that conventional is the more popular source in terms of units eaten, the organic category is projected to grow at the rapid pace in terms of revenue throughout the forecast period.

Key Takeaways from Market Study

• Banana flake consumption in India is predicted to expand at an annual pace of over 8%.
• With a growth expected to surpass 6%, Germany is one of the most important countries in the European Snack Pellets market.
• During the forecast period of 2022-2032, the organic category is predicted to develop at the fastest rate in terms of value, with a CAGR of 6.5 percent.
• As banana flakes industry are gluten-free, their popularity is predicted to grow as a result of their health benefits.
• Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.

“The growing focus on the consumption of organic food products in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.

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Competitive Landscape

Banana flakes industry have a strongly competitive global market. To stay ahead of the game and outperform their competitors, businesses are using innovative methods such as expanding their worldwide client base and utilising various advertising approaches.

They’re focusing on increasing production capacity and also doing research and innovation to create products that highlight the nutritional advantages of banana flakes.

Some of the leading companies offering Snack Pellets are Orkla Group, Raeler Fruchtchips GmbH, Om Foods Inc, Van Duren Farms,  Johs. Thoms GmbH & Co. KG, Tradal Brazil, Z Natural Foods,   Symrise, Seawind International LLC, VINJ-Food,Dermasal.,  Nutritional Designs, Inc., Futurcorp S.A., Cosmo Foods, Agro America, and Grupo Industrial Michel.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the banana flakes industry presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

Source:

• Organic
• Conventional

Application:

• Household
• Food & Beverage Industry
• Other Application

Sales Channel:

• Direct Sales
• Indirect Sales

Region:

• North America
• Latin America
• Europe
• Japan
• Asia Pacific Except Japan-APEJ
• Middle East and Africa-MEA

Boost Your Market Strategy: Order Now to Receive Exclusive Market Trends Information on Banana Flakes industry:
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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 over 5000 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

The global direct reduced iron industry is currently valued at approximately US$ 8,249.0 million and is projected to reach US$ 16,789.0 million by 2030, with a compounded annual growth rate (CAGR) of 8.2% expected between 2022 and 2030. This significant growth can be attributed to the rising demand for direct reduced iron in sectors like steel production and construction, highlighting its vital role in meeting industrial needs during the forecast period.

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

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

Key Takeaways from the DRI Industry Study

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

DRI Industry: Key Participant Insights

While DRI will not replace scrap steel as the primary raw material for steel production, it is projected to be utilized as a key ingredient and in higher proportions. In addition, the growing demand for high-quality steel products is further expected to drive DRI demand.

Top Key Players

• ArcelorMittal
• Mobarakeh Steel
• Essar Steel
• Qatar Steel
• Hadeed
• SIDOR
• Khouzestan Steel Co.
• Jindal Steel & Power
• Gol-e-Gohar
• Nucor

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Direct Reduced Iron (DRI) Industry: Segmentation

Production Process

• Coal-based
• Gas-based

Application

• Steel Production
• Construction

Form

• Lumps
• Pellets

Region

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

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 over 5000 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
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The global polyvinyl chloride (PVC) industry is expected to maintain a steady Compound Annual Growth Rate (CAGR) of 4.2% from 2019 to 2029. The construction industry will continue to be a prominent end-use segment, while the pharmaceutical sector is anticipated to see a growing adoption of PVC for manufacturing medical devices. Recognizing the environmental concerns associated with PVC, research and development activities are projected to intensify throughout the forecast period, aiming to address sustainability and environmental implications.

Polyvinyl Chloride (PVC) is a synthetic polymer made from vinyl chloride monomers. It is a versatile material known for its excellent durability, chemical resistance, and low cost of production. PVC can be rigid or flexible, and its wide range of properties makes it suitable for diverse applications across multiple industries.

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Key Takeaways of the Market Study

• Pipes & fittings will remain the leading end-use category.
• Rising infrastructural activities in emerging countries is steering the demand for PVC.
• Rigid form of PVC to remain preferred variant through 2029 owing to diverse applications such as automotive and construction.
• Attributes such as high corrosion resistance, endurance and durability are complementing the market growth.
• Manufacturers continue to tap opportunities in PVC alternatives to fortify their market hegemony.
• Gains in global market would remain concentrated in Asia Pacific.
• The US market is set to register double-digit CAGR during the forecast period.
• Fluctuation in raw material prices would continue to be a major roadblock for PVC market growth.

Premier companies in the PVC space must undertake R&D and expansion projects to deliver five key performance criteria as opined by consumers – innovation, communication, quality, performance and regulatory compliance.

Asia Pacific Procures More than 61% Market Share

Use of PVC in wide spectrum of end-use industries such as manufacturing, automotive and construction is hurtling the Asia Pacific market. Emerging countries such as China, Indonesia, Vietnam and India will augment the demand for PVC through 2029. Therefore, Asia Pacific accounts for majority share in PVC market on the back of rapid industrialization.

On the other hand, consumers in developed markets such as the United States have greater economic wealth. This is a key driver fuelling the rise of PVC alternatives such as high-density polyethylene (HDPE). Such recyclable substitutes of PVC are increasingly being favored by consumers and manufacturers alike.

Innovation to Remain Crucial Strategic Tenet of Leading PVC Producers

Key players profiled in this FMI study, include but are not limited to, Arkema S.A., Ineos Chlorvinyls Ltd., BASF SE, Chinyang Chemical Co. Ltd., Saudi Plastic Products Company Ltd., Formosa Plastics Corporation, Premier Polyfilm Ltd., The Chemical Company, and Occidental Petroleum Corporation.

Competitive leadership in global market will be determined by product innovation and sustainability efforts during 2019-2029. For instance, INOVYN was voted by consumers for ‘Best Polymer Producers Awards for Europe 2017’. The company announced its plans for expanding its operations in Norway (2018).

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Polyvinyl Chloride (PVC) Industry Segmentation

By Type

• Rigid
• Flexible

By End Use

• Construction
• Electrical Cables
• Transportation
• Packaging

By Application

• Pipes & Fittings
• Films & Sheets
• Cables
• Pastes
• Profiles

By Region

• North America
• Latin America
• Europe
• MEA
• Asia Pacific

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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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