Exploring the Various Applications of Dry Ice in Industrial Processes: Market Trends and Forecasts

The demand for dry ice is expected to increase at a strong CAGR of 8% from 2022 to 2032, leading to a forecasted market value of US$ 300 Million by that year. The target market, which was valued at US$ 137 Million in 2021, is anticipated to grow to US$ 138.95 Million in 2022. One of the key development drivers for the dry ice market over the projected period will be the increasing demand for dry ice to repair and refurbish industrial and residential structures damaged by fire.

The swiftly rising demand for frozen foods due to a fast-paced lifestyle along with the surging usage of dry ice as a refrigerant in the food and shipping sectors are predicted to significantly boost the growth of the dry ice market. Considerable growth and development in the transportation sector will likely support product shipping which will, in turn, open up various revenue growth opportunities for the global dry ice market. Owing to a surge in long transportation trips, grocery stores, and the healthcare industry will also contribute towards the creation of profitable opportunities for the dry ice market in the upcoming years.

Additionally, the dry ice market will grow steadily over the next few years due to the increasing demand for dry ice as a refrigerant in the food, transportation, pharmaceutical, and healthcare industries. Furthermore, the use of dry ice for industrial cleaning through dry ice blast cleaning will also contribute to the overall market growth. Dry ice is a safer substitute for cleaning purposes than the use of solvents and other chemicals.

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“Owing to its non-inflammable and non-toxic properties, dry ice is expected to find application in a variety of industries which, in turn, will foster the global growth of the dry ice over market the forecast period,” says an FMI analyst.  

Key Takeaways:

  • The short lifespan of dry ice may hinder its overall market growth.
  • The development of the dry ice machine industry across the globe will strengthen market prospects.
  • The advancing entertainment industry will push the dry ice market towards growth in North America.
  • The dry ice market in the Asia Pacific region is expected to undergo the highest growth.

Competitive Landscape 

Central McGowan, VICTEX, ASCO CARBON DIOXIDE LTD, The Iceman., Linde, Merck KGaA, Polar Ice Ltd, Chillistick Ltd., Thomas Scientific, Pacific/Reliant Dry Ice, Praxair Technology, Inc., and nexAir LLC among others are some of the major players in the dry ice market profiled in the full version of the report.

Many manufacturers- large multinational corporations and private firms- substantially contribute to the oval revenue growth of the market. These leading market players are employing various organic and inorganic strategies to gain a competitive advantage.

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More Insights into Dry Ice Market Report

In its latest report, FMI offers an unbiased analysis of the global dry ice market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (dry ice pellets, sry ice blocks, other dry ice types), application (dry ice for food and beverages, dry ice for storage and transportation, dry ice for healthcare, dry ice for industrial cleaning, dry ice for other applications), and region.

According to the latest FMI reports, based on region, the dry ice market in the Asia Pacific region is expected to demonstrate the highest growth during 2022-2032. Heightened demand in the food preservation industry will likely generate growth opportunities for the target market in this region. Swelling demand for dry ice from industrial, transportation, medical, and entertainment industries, particularly those in China, Japan, and India will fuel the growth of the dry ice market in Asia Pacific. Europe is expected to follow closely after Asia Pacific in terms of dry ice market growth during the projected period.

The dry ice market in North America will also present notable growth during 2022-2032. The target market in this region will be primarily driven by the demand from the growing entertainment industry in Canada and the U.S. The increasing demand from the transportation and pharmaceutical sector also contributes to the overall dry ice market growth in this region during the forecast period.

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Polyethylene Terephthalate Market Size to be worth US$ 40 Billion by 2032

Over the forecasted period of 2022 to 2032, the worldwide polyethylene terephthalate market is predicted to expand at a steady CAGR of 3.4%. The global market is anticipated to grow from $27.1 billion in 2021 to US$28.6 billion in 2022. Furthermore, by 2032, the business is expected to generate close to US$ 40 billion.

PET, also known as polyethylene terephthalate, is a thermoplastic polymer resin created by the reaction of mono ethylene glycol (MEG) and pure terephthalic acid. This substance is renowned for having remarkable moisture and water barrier qualities. Numerous industries use polyethylene terephthalate, including electronics, automotive, and the packaging of food and drinks.

Over the recent years, Reliance Industries have announced an opening in Dahej, Gujrat, for making polyester plastic. Furthermore, the company is also expected to commission a 650KTA polyethylene terephthalate (PET) resin capacity and purified terephthalic acid (PTA) plant. It will increase their global share by almost four percent and would also lower the operational cost and achieve full chain margins.

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Key Takeaways

  • Surging demand for polyethylene terephthalate is predicted to come from the food and beverage packaging sectors such as carbonated soft drinks packaging, increased demand for packaged food due to the rise in consumption of frozen and processed food, rise in demand for electronics and automotive applications/industries, and eco-friendly substitution are the most important driving force in the Polyethylene Terephthalate market.
  • In addition, increasing urbanization, innovative packaging, and high economic growth are rapidly contributing to increasing the demand for polyethylene terephthalate regardless of geographical location.

More Insights into the Polyethylene Terephthalate Market

The food and beverage sector is expected to account for robust growth within the Asia Pacific region. The rising income levels along with the swelling population levels are some of the major factors that have been steering the growth of the food industry in the province.

Attributing to enhanced living standards, the food and beverage sector in China is experiencing a significant boost. Consequently, there is an increasing demand for packaged, ready-to-cook, and ready-to-eat food, as well as an array of beverages.

Over the span of time, consumption of packaging material has significantly swelled, and a shift is predicted to sustainable and recyclable material is likely to drive the market in the coming future. Moreover, with enormous scope for growth in the region, novel investments are being observed in the food and beverage sector, envisioned to set up individual confectionaries, food processing, and beverage-making facilities.

The plastics industry is crucial for the European economy and plays a huge part in its recovery plan. Together, the plastic raw material producers, plastics converters, plastics recyclers, and machinery manufacturers, represent a value chain that employs over 1.5 million people in Europe, through more than 55,000 companies, most of them SMEs, operating in all European countries.

Attributing to the surging partnerships between an interrelated plastics value chain and hefty investments by all local and global investors, the PET market will adopt innovative ideas to offer sustainable solutions.

Likewise, recycling rates of plastic packaging waste in Europe range between 26% and 52%. European Union (EU) has published the new Directive on Packaging and Packaging Waste which sets higher recycling targets per material, along with a new calculation method for recycling performances. Thus, the increment in the adoption of recycling plastic waste is burgeoning the demand for the PET market.

On the basis of geography, the United States accounted for the largest market share, holding more than two-thirds of the global landscape. A substantial increase in demand for packaging materials in the food & beverage segment in the United States has been witnessed over recent years. PET is used to swap parts in vehicles, as it aids to reduce weight, as well as wear & tear.

Attributing to the aforementioned factors, the growth of the U.S. automotive market is expected to grow at an exponential pace. This increasing demand will enhance the growth of the country’s polyethylene terephthalate market in the forthcoming future.

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Competitive Landscape

Some of the key participants present in the global demand of the polyethylene terephthalate market are focusing on research and development activities along with other strategic steps such as mergers and acquisitions in order to get an edge over the global landscape.

Key Companies Profiled

  • Indorama Ventures Public Company Limited
  • Alpek SAB de CV
  • Sinopec Group
  • Far Eastern New Century Corporation
  • CR Chemical Materials Technology Inc.

Key Segments Covered in the Polyethylene Terephthalate Market Research Report

Application:

  • Polyethylene Terephthalate for Sheets/Films
  • Polyethylene Terephthalate for Packaging
  • Polyethylene Terephthalate for Consumer Goods
  • Polyethylene Terephthalate for Other Applications

End User:

  • Polyethylene Terephthalate for Automotive Industry
  • Polyethylene Terephthalate for Electronics
  • Polyethylene Terephthalate for Food & Beverages
  • Polyethylene Terephthalate for Other End Users

Region:

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

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Ethylene Copolymers Market worth US$ 86.6 Billion by 2032 at a CAGR of 4.2%

The market for ethylene copolymers is projected to grow at a consistent CAGR of 4.2% between 2022 and 2032. According to forecasts, the market for ethylene copolymers would increase from US$ 57.4 billion in 2022 to US$ 86.6 billion in 2032.

One of the main factors propelling the worldwide ethylene copolymers market is the rising demand for ethylene copolymers from the global automotive industry. Car weatherstripping and seals are made from ethylene copolymers. Motor oils are supplemented with these copolymers. Among the things produced with them are engine mounts, braking components, and windshield wipers.

Another major factor driving demand for ethylene copolymers is an increase in the need for industrial rubber for use in tire manufacturing. The worldwide vehicle rubber-molded components market is expected to be revolutionised in the near future as a result of research and development operations in the automobile and automobile component sectors.

During the forecast period, demand for ethylene copolymers s is expected to be driven by innovations (such as eco-friendly rubber components made from soy oil) and research labs working to develop better and more durable rubber materials (such as EPDM). The global e ethylene copolymers market is expected to benefit from an increase in demand for lightweight automotive components in order to produce more fuel-efficient automobiles.

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Because of its qualities, such as heat resistance, chemical reactivity, formulation flexibility, and cohesion and adhesion, demand for ethylene copolymers is gradually increasing. The packaging and automobile industries are also expected to boost the demand for ethylene copolymers. The demand for ethylene copolymers is projected to be fuelled by food packaging.

As per the ethylene copolymers market analysis, the industry is expected to increase further as customers become more mindful of waste packaging and recycling. Increased R&D initiatives for technological and equipment development, as well as creative product offerings by companies, are all contributing to the growth of the ethylene copolymer market.

The adoption of ethylene copolymers may be hampered by fluctuating raw material prices and regulatory regulations on various compounds. Nonetheless, there are chances for ethylene copolymers market players to engage in this market, given the consistent growth of the chemical processing industry and the automotive and packaging industries.

Key Takeaways:

  • Over the next eight years, the rise of the automobile industry in some regions, such as India and China, is predicted to drive demand for ethylene copolymers.
  • Due to the growing presence of significant companies in the food and beverage and consumer products industries in the United States and Canada, North America dominates the ethylene copolymers market.
  • Ethylene Vinyl Acetate (EVA) segment type leads the ethylene copolymers market with the projected CAGR of 3.9% by 2032.
  • Hot Melt Adhesives segment leads the market by application with the projected CAGR of 4.0% by 2032.

Competitive Landscape:

Product launches, product approvals, and other growth initiatives such as patents and events are all being focused on by various companies. Acquisitions, as well as partnerships and collaborations, were among the ethylene copolymers market’s growth tactics. These initiatives have paved the road for market players to expand their business and client base.

The major players covered in the ethylene copolymers market report are BASF SE, Celanese Corporation, Dow, Exxon Mobil Corporation, N SHASHIKANT & CO., Benson Polymers Limited, Dycon Chemicals, Triveni chemicals, AVH Polychem Private Limited., Sushila Parmar International Pvt. Ltd, Amatya Impex Private Limited., Jai Chemicals., Trinity Pigment Industries, Khushi Enterprises LANXESS, LyondellBasell Industries Holdings B.V, Sipchem and USI Corporation, among other domestic and global players.

The businesses are pursuing a variety of growth strategies and spending heavily in the development of technologically advanced, one-of-a-kind, and biodegradable products to change the ethylene copolymers market outlook.

Avantium N.V. was awarded a Horizon 2020 grant for 25 million euros ($28 million) to develop an innovative value chain for plant-based furan dicarboxylic acid and polyethene furonoate, which are used to make biodegradable products. The new expansion is being fueled by an increase in demand for renewable and biodegradable materials. Green polyethylene and bio-based EVA resin, for example, are guiding the chemical sector toward more sustainable innovation.

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How does COVID-19 influence the Ethylene Copolymers Market?

The introduction of COVID-19, which the World Health Organization has labeled a pandemic, is having a significant influence on worldwide ethylene copolymers economic growth. Global GDP is anticipated to fall by 3% in 2020, according to the International Monetary Fund.

The economic impact of COVID-19 is expected to reduce global trade volumes by 13 to 32 percent in 2020, according to the World Trade Organization (WTO).

The ethylene copolymers market must now devise new tactics to deal with the pandemic while also propelling the future market growth.

Key Segments

By Application:

  • Hot Melt Adhesives
  • Asphalt Modification
  • Thermo Adhesive Films
  • Others

By Type:

  • Ethylene Vinyl Acetate (EVA)
  • Ethylene Ethyl Acrylate (EEA)
  • Ethylene Butyl Acrylate (EBA)
  • Ethylene Propylene
  • Others

By End Use:

  • Packaging
  • Building & Construction
  • Automotive
  • Textiles
  • Others

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Middle East 3D Printing Materials Market is Expected to Expand at a CAGR of 16.7% by end of 2025

Future Market Insights (FMI) delivers key insights on the Middle East 3D printing materials market in its upcoming outlook titled, “3D Printing Materials Market: Middle East Industry Analysis and Opportunity Assessment, 2015 – 2025”.

According to the report, the Middle East 3D printing materials market is projected to register a CAGR of 16.7% in terms of value during the forecast period 2015-2025; volume-wise, the market is expected to increase at a CAGR of 11.2%.

The setting up of various 3D printing manufacturing units, along with the emergence of many 3D printing technology-based start-ups in the region, is expected to bolster the overall growth of the industrial manufacturing sector in the Middle East.

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Middle East 3D Printing Materials Market Segmentation

The Middle East 3D printing materials market is segmented based on the filament, application, diameter type, and region.

Based on filament type, the market has been segmented into ABS, PLA, HIPS & PVA, Nylon, PET, ceramics, and others. In terms of value, the PLA filament segment was estimated to account for a 22.3% share of the Middle East 3D printing materials market in 2015.

This segment is projected to register a healthy CAGR of 16.7% during the forecast period. The metal filament segment is witnessing significant growth and is expected to record sustainable growth in the near future.

Based on application, the market has been segmented into electronics & consumer, automotive, medical, industrial, education, aerospace, and others. The electronics and consumer application segment is expected to register an impressive CAGR of 12.6% in terms of value.

The adoption rate of 3D printing technology in the manufacturing sector in GCC is around 11%, which is above average when compared to the global adoption rate. Government initiatives to set up 3D manufacturing labs across various sectors, along with increasing awareness among manufacturers regarding operational cost profit, have led to the emergence of many new 3D printing start-ups in the region.

Also, the increasing demand for cost-effective replacement organs in the healthcare sector has led to the increasing adoption of 3D printing technology in healthcare applications. In terms of value, the healthcare industry in GCC is expected to expand at a CAGR of 13.4% during the forecast period. This is expected to create significant demand for 3D printing technology in the region.

Though the Middle East 3D printing materials market is expected to witness impressive growth in the region, the high cost of 3D printing materials along with no uniform design or manufacturing capabilities is a major cause for concern for the increase in overall demand for 3D printing materials.

This report covers trends driving the growth of each segment and offers analysis and insights into the potential of 3D printing materials in all the countries covered in the Middle East.

The market in Levant countries is expected to remain dominant throughout the forecast period. This is primarily due to the presence of some of the international players in the region along with well-established manufacturing sectors in the region. The Levant is mainly driven by Israel and Turkey.

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Middle East 3D Printing Materials Market: Key Companies

Key players in the Middle East 3D printing materials market include 3D Systems, Stratasys Ltd., Beijing Tiertime Technology Co., Ltd., ExOne Co., 3D Filament Manufacturing, Coex LLC, and MatterHackers Inc.

A large number of players operating in the 3D printing materials market are focused on entering into collaborations and partnerships with local distributors and retailers to enhance their market presence in Middle East countries. Moreover, it also enables companies to increase product visibility across the region.

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Global Sulphur Coated Urea Market Worth US$ 1,453.0 Million by 2032, Growing at a CAGR of 3.3% From 2022

The surging sales perspectives are attributed to the diverse usage of Sulphur in industries like agriculture, golf courses, professional lawn care, turf, and greenhouses bolstering the growth in the market. The global Sulphur coated urea market is expected to exhibit a stable CAGR of 3.3% with an estimation valued at US$ 1,050.20 Million in 2022 surpassing a valuation of US$ 1,453.0 Million by 2032.

According to Future Market Insights analysis, the Sulphur coated urea market registered a historic CAGR of 3.4% from 2015 to 2021. According to the studies, growth in the market witnessed a slight decline, registering a 3.3% CAGR for the period between 2022 and 2032.

The increased availability of several other coated particles which resulted in stagnant market growth across the forecast period from 2022 to 2032 is expected to propel the demand for the Sulphur coated urea market. In addition to that, the market is expected to excel amid a surging number of golf courses globally and increased spending on luxury amenities such as household lawns.

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Key Takeaways

  • One of the major key factors propelling the growth is rising concerns regarding sustainability and the urgent need for cost minimization in the agriculture sector. On a regional basis, North America is anticipated to dominate the global Sulphur coated urea market in terms of consumption.
  • Attributing to the technological advancements in the agriculture industry and accelerated usage of Sulphur coated urea in agricultural applications, specifically for grain crops is expected to bolster growth in the global market.
  • Furthermore, emerging countries in East & South Asia Pacific such as India, Japan, China, and Australia are projected to witness substantial demand for Sulphur coated urea in the coming decade.
  • Rising concerns about over-eutrophication, stringent regulations and penalties on conventional fertilizers, product innovations, and increasing technological advancements are expected to fuel the demand in Sulphur coated urea market.
  • There is a reasonable surge witnessed in the demand for food production due to the growing popularity along with increased investments in agriculture modernization, especially in emerging economies such as India and China will drive the demand in the market.
  • Another crucial key factor bolstering growth in the market is, the shifting focus of farmers in order to increase agriculture yields with profit margins in the agriculture sector. Being a slow-released fertilizer, Sulphur coated urea (SCU) is produced by a thick coating of hot urea with molten Sulphur and then sealed with polyethylene oil or microcrystalline wax.
  • Widespread adoption of Sulphur coated urea is witnessed for agriculture applications owing to an economical slow-release nitrogen source compared to other coated materials with low leaching and volatilization losses. On the back of these factors, high demand of Sulphur coated urea is anticipated during the forecast period.
  • Key players in the Sulphur coated urea market are developing Sulphur coated urea with lower particle sizes, allowing for their usage on putting greens. These product innovations are further expected to boost the demand for Sulphur coated urea during the forecast period.

Competitive Landscape

Dominant players in the market are focused on heavy investments and innovations for the development of products with improved applications and the introduction of sustainable products in order to minimize carbon footprints. On the other hand, some of the other players are concentrating on capacity expansions in emerging economies to capitalize on expanding their agriculture sector.

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Key Companies Profiled

  • Nutrien Ltd.
  • J.R. Simplot Chemicals
  • Turf Care Supply, LLC
  • Israel Chemicals Ltd.
  • The Andersons, Inc.
  • Everris
  • Syngenta AG
  • Hanfeng Evergreen
  • Yara International ASA
  • Haifa Chemicals Ltd.
  • Koch industries Inc.
  • Luyue Chemical
  • Luxi Chemical
  • Harrell’s LLC
  • PULCU TARIM
  • QAFCO
  • Others

Sulphur Coated Urea Market Segmentation

By Product Type:

  • Wax Sulphur coated Urea
  • Polymer Sulphur coated Urea

By Application:

  • Agriculture
  • Golf Courses
  • Professional Lawn and Turf
  • Other (Nursery, Green Houses, etc.)

By Region:

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

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More Insights into the Sulphur Coated Urea Market

According to FMI estimations, the U.S. is expected to remain one of the leading consumers of Sulphur coated urea attributed to the rising applications in diverse industries including the residential sector and the agriculture sector among others. The country is predicted to account for about 20%-25% of the global value share in the Sulphur coated urea market.

Emerging economies like China, Japan, and Australia are expected to be the fastest growing Sulphur coated urea market all over the Asia Pacific region owing to the rising preference for luxury amenities such as golf courses, community shades, horticulture, gardens, etc., which is creating a conducive environment for key players in the region.

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Sulphur Bentonite Market:  Demand in the sulphur bentonite market is projected to grow at a CAGR of 5.0% between 2022 and 2029. Future Market Insights (FMI) forecasts the market value to top US$ 197.3 Mn in 2022.

Elemental Sulfur Market: In the forthcoming years, China, India, Japan, the U.S., and Germany are expected to emerge as key producers and exporters in the elemental sulphur market, opines FMI.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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Driveline Additives Market is Projected to Grow at a Value of 4.5% CAGR: Growth, Trends, and Forecast by 2029

According to FMI’s recent market study, the Driveline additives market is projected to exhibit a CAGR of over 4.5% and reach US$ 12,260.5 Million by the end of the forecast period (2022-2029).

Driveline additives are designed to optimize automotive performance and help reduce energy loss. Driveline additives help ensure the smooth functioning of the drivetrain, and, in turn, enhance hardware life. Extended hardware durability translates directly into increased profitability and returns on investment for everyone in the supply chain.

The employment of stringent emission guidelines around the world and constant requirements for hardware durability are projected to create substantial opportunities for key market players.

“Several driveline additive companies are expanding their footprint in APEJ to benefit from low-cost structures and rising local demand in the automotive industry.”

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Key Takeaways of Driveline Additives Market Study

  • The transmission fluid additives segment is witnessing high growth in the global driveline additives market. The rising focus of OEMs on fuel efficiency, along with the growing adoption of innovative technologies such as dual-clutch technology (DCT), is poised to drive demand for transmission fluid additives over the forecast period.
  • APEJ is estimated to be the largest market for driveline additives by the end of 2029. The growth of the APEJ market is mainly attributed to rapid industrialization in the region.
  • One of the major and emerging trends in the global driveline additives market is the development of high-efficiency and environmentally sustainable (biodegradable oil/additives) additives at a low cost.

Driveline Additives Market: Competitive Landscape

The global driveline additives market is estimated to be highly consolidated, with tier-1 players accounting for nearly half of the market share. Some of the key market players included in the report are The Lubrizol Corporation, BASF SE, and Chevron Oronite Company, LLC, among others.

Manufacturers are striving to gain additional market share in the driveline additives market using strategic expansions, collaborations, and product innovation. In addition, key players are currently focused on investing in new manufacturing facilities and expanding their existing ones in emerging markets to strengthen their market position across the globe.

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Driveline Additives Markey by Category

By Product Type:

  • Transmission Fluid Additives
  • Gear Oil Additives

By Application:

  • Passenger Cars
  • Commercial Vehicles
  • Off-Highway Vehicles

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • Middle East & Africa

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Find More Valuable Insights on Driveline Additives Market

FMI, in its new research report, offers an unbiased analysis of the global driveline additives market, presenting historical demand data (2014-2021) and forecast statistics for the period of 2022-2029. The study reveals insights into the driveline additives market and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the driveline additives market value chain.

Readers can also find key trends and market growth scenarios based on end-use industries and regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA.

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Antimicrobial Additives Market: The overall sales of antimicrobial additives are projected to increase at a healthy CAGR of 8.2 % between 2022 and 2032, totaling a valuation of US$ 27,955.6 Mn by 2032.

Coating Additives Market: The global coating additives market was valued at around US$ 10,613.3 Mn in 2021 and is anticipated to reach US$ 17,724.8 Mn by 2032. Sales in the global coating devices market are witnessing a surge at a CAGR of 4.8% between 2022 and 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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Hot Melt Adhesives Market are Revolutionizing the Packaging Industry to Reach a Value US$ 12.67 Billion by 2032

The global hot melt adhesives market is anticipated to create a lucrative growth opportunity in the global landscape by registering a CAGR of 5.3%. from 2022 to 2032. The market is expected to reach a valuation of US$ 7,562.9 Million by the end of 2022 and is predicted to reach US$ 12,675.7 Million by 2032.

These factors are likely to drive the global hot melt adhesives market in the upcoming decade. As per FMI, the market is estimated to exhibit a CAGR of 5.3% from 2022-2032. Over the historical period, the global hot melt adhesives market witnessed a CAGR of 4.8% between 2014 to 2021.

The manufacturing activities have been reduced and significant reduction has been witnessed in the product capacities, and part-time shifts, as well as the introduction of automated production machinery, let manufacturers improve their market positions.

These aforementioned factors are expected to drive the hot melt adhesives market during the forecast period. Several regulatory bodies including the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the Environmental Protection Agency (EPA) are expected to take more steps in order to limit the use of solvent-based adhesives which helps in reducing their negative impacts on the environment.

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Key Takeaways

  • Renewable resources-based hot-melt adhesives comprise several benefits due to which they are rapidly being replaced by petroleum-based ones. Renewable resources-based hot-melt adhesives are inexpensive and have properties that match or exceed those of polymer-based adhesives. Prominent companies in the market are partnering with local firms to meet the growing demand for bio-based adhesives.
  • About two-thirds (60%) of renewable plant-based raw materials composition is extracted from plants. Key leading players are focusing on developing bio-based hot melt adhesives to meet the growing consumer demand and keep up with regulatory compliance. Commencing with the consumer packaging applications including end-of-line and labeling, bio-based hot melt adhesives are expected to gain traction.
  • The trend of do-it-yourself (DIY) is gaining momentum in both developed and developing countries. There are a variety of materials and surfaces that can be effectively glued by hot melt adhesive glue such as ceramics, fabrics, paper, cardboard, metals, and plastics, thereby making it ideal for DIY applications and DIY projects.
  • DIY being a relatively new term has gained traction across various developed countries such as North America and Europe. Owing to the easy availability of hot melt adhesive pens across these regions would aid growth. In addition to that, in the U.S. and Europe, the cost of labor is higher resulting in higher installation costs. Attributed to this, DIY methods for regular repairs and maintenance are popular in developed countries.
  • Hot melt systems are the most cost-effective on the basis of space and personnel requirements. As a result, it is not needed to operate large-scale drying and curing furnaces and pollution control equipment at a high cost. Like solvent-based systems, hot melt adhesives eliminate the need for solvent recovery and incinerators.
  • Solvent-free, bio-based melt adhesives are surging in the market from manufacturers of packaging solutions, disposable sanitary products, furniture & woodwork, automotive & transportation, and footwear are projected to drive the hot melt adhesives market.

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Key Companies Profiled:

  • Arkema
  • Avery Dennison Corporation
  • Beardow & Adams (Adhesives) Ltd.
  • DOW Inc.
  • HB Fuller Company
  • Henkel AG & Co. KGaA
  • Jowat Se
  • Sika AG
  • Tex Year Industries Inc.
  • Adhesive Direct UK
  • Adtek Malaysia SDN BHD
  • Buhnen GmbH & Co. Kg
  • Cherng Tay Technology Co., Ltd.
  • Evonik Industries AG

Competitive Landscape

In order to elevate their annual turnover and fortify their market positions worldwide, leading manufacturers in the market are purchasing small-scale market players. To efficiently meet the rising demand and thrive in the highly competitive market, key participants are also concentrating on mergers and expansion activities.

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Hot Melt Adhesives Market Outlook by Category

By Polymer Base:

  • Ethylene Vinyl Acetate
  • Polyolefin
  • Polyamide
  • Styrenic Block Copolymers
  • Polyurethane (PU)
  • Others

By End Use:

  • Packaging Solutions
  • Disposable Hygiene Products
  • Furniture & Woodwork
  • Automotive & Transportation
  • Footwear
  • Textile
  • Electronics
  • Bookbinding
  • Others

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More Insights into the Hot Melt Adhesives Market

The U.S. is anticipated to dominate the global hot melt adhesives market owing to the presence of various dominant manufacturers in the North American region. In addition to that, the increasing adoption of advanced technology in the U.S. would also contribute to the growth in the hot melt adhesives market in the country.

The U.S. packaging industry is expected to be a key driver of market expansion owing to the presence of leading packaging manufacturers in the region.

China is the second largest market in the East Asia hot melt adhesives market attributed to the rapid expansion of various end-use industries. Owing to the rising demand from sectors, including footwear, packaging, disposable hygiene products, textile chemicals, and automotive & transportation, China is projected to showcase considerable growth.

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Polyurethane Adhesives Market: According to Future Market Insights research, during the projected period, the global polyurethane (PU) adhesives market is set to top a valuation of US$ 9.63 Bn in 2022, and further expand at a CAGR of 6.1% during 2022-2032.

Electronics Adhesives Market: Demand for electronics adhesives grew at 7.5% CAGR in the historic growth period during 2016-2020. The electronics adhesives market has seen remarkable growth in Europe and East Asian countries.

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Key Players in the Bentonite Market: Kemira OYJ, Mineral Technologies Inc. Clariant AG, and Alfa Aesar

Increasing oil drilling and construction activities across the world are expected to create increasing demand for the bentonite market between 2021 and 2031, finds Future Market Insights (FMI) in a new study. According to the report, the market is expected to reach US$ 2.37 billion by the end of 2031.

Through the course of the forecast period, it is expected to record solid growth, especially since developing economies are expected to offer lucrative growth opportunities. Bentonite is a highly colloidal clay mineral containing a variety of accessory minerals such as quartz, feldspar, calcite, and gypsum.

Properties such as water absorption, swelling, viscosity, hydration, and thixotropy make bentonite a valuable material across various industries. The chemical and mechanical properties of bentonite materials can be altered through various additions and combinations of raw materials, which are based on the application or use of the finished product.

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Bentonite is known for its versatile nature and application in numerous industries such as construction, oil & gas, food, pharmaceutical, foundry, and among others. Of these, the oil industry is expected to remain dominant, accounting for nearly one-fourth of bentonite sold globally.

Key Takeaways

  • Driven by applications across diverse industries, the bentonite market will exhibit a CAGR of 6.2% between 2021 and 2031
  • With oil and drilling activities pacing up, the U.S. is expected to account for 88% of bentonite sales in North America
  • Bentonite production in France and Poland will pick up at an impressive pace after post lackluster growth registered in 2020
  • Germany and Russia are expected to emerge as leading markets for bentonite in Europe
  • China is expected to spearhead the growth of the bentonite market in East Asia

“Role of bentonites in oil drilling applications continues to propel the overall market growth. However, due to stringent regulation imposed by governments on the use of some of the intermediate chemicals, which are used collectively with bentonite in drilling applications, the market might witness some hindrances to growth. Nonetheless, key manufacturers are focusing on enhancing the production rate which will aid the overall expansion of the market in the coming years.” says FMI analyst.

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Competitive Landscape

The market is moderately fragmented with key players accounting for a small market share. Some of the key players in the market are Kemira OYJ, Mineral Technologies Inc. Clariant AG, Kunimine Industries Co., Ltd. Charles B Chrystal Co. Inc, Ashapura Group of Companies, Halliburton Co, Wyo-Ben, Inc, Polymer Drilling Systems (PDS) Co, Inc, Black Hills Bentonite, LLC, Alfa Aesar, Kutch Minerals, among others. These key players are expected to invest in new technology developments and the expansion of their network to maintain their market shares.

Bentonite Market by Category

Product Type

  • Sodium
  • Calcium
  • Others

Application

  • Drilling Fluids
  • Binder
  • Sealant
  • Absorbent/Adsorbent
  • Clarification Agent
  • Others

End-Use Industry

  • Oil
  • Foundry
  • Construction
  • Food
  • Pharmaceuticals
  • Others

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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Regional Analysis of the Ammonium Carbonate Market: Opportunities and Challenges

The global ammonium carbonate market is anticipated to grow at a 5.2% CAGR during the projected period, reaching US$ 688 Million in 2022, according to Future Market Insights. A favorable demand forecast will cause the market to grow to US$ 1.1 billion by 2032.

As a leavener for baked goods, ammonium carbonate is frequently employed in a variety of applications. Since there is an increasing need for baked items and crispy snacks with longer shelf lives, manufacturers in the food industry are adopting ammonium carbonate that is food-grade. Sales in the market are expected to increase due to the numerous advantages of food-grade ammonia over other chemical leavening additives for particular types of cookies.

Also, when compared to alternative leavening agents, the usage of food-grade ammonium carbonate results in a crispness that lasts longer. Furthermore, because food-grade ammonium carbonate is not extremely reactive at room temperature, it has a good bench tolerance, making it ideal for cookie dough storage. As a result, bakers are increasingly incorporating food-grade ammonium carbonate into products that require exceptional crispness and shelf life.

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In addition to this, ammonium carbonate is used in the textitle industry for syeing and printing various fibers. These salts increase the fastness property of the pigment on fiber, especially wet fastness. Due to this reason, ammonium carbonate salt is used widely in the textiles industry.

“Increasing demand for ammonium carbonate in the pharmaceutical sector, along with ongoing expansion of the food and beverage sector across emerging economies are key factors expected to create opportunities for growth in the market,” says an FMI analyst.

Key Takeaways:

  • The global ammonium carbonate market is expected to reach US$ 1.1 Bn by 2032, growing at a CAGR of 5.2% over the forecast period.
  • The rising demand for ammonium carbonate for various applications in the food industry is expected to propel the growth in the market.
  • Key players are focusing on increasing production capacity and expansion by setting up new plants to cater to the growing demand.
  • Ammonium carbonate is compatible for dyeing purposes to increase the fastness property of the fabric.

Competitive Landscape

Taixing Dongyu Chemical, Oasis Fine Chem, Akash Purochem Private Limited, Shanghai Tenglong Agrochemical Co. Ltd., BASF, Sinoharvest Corporation., Merckmillipore, Sandvick, Honeywell, Vishnupriya Chemicals, Adhunik Industries, Huaron Chemical Co Ltd, Prochem Inc, And Takasugi Pharmaceutical others are some of the key players in the ammonium carbonate market.

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Ammonium Carbonate Market Segmentation

By Grade:

  • Pharmaceutical Grade
  • Food Grade

By Type:

  • Lumps
  • Powder

By Application:

  • Leavening Agent
  • Pharmaceutical Ingredients
  • Food & Beverage agent

By End-Use:

  • Pharmaceutical Industry
  • Cosmetic & Personal Care
  • Food Industry
  • Textile Industry
  • Others

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, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Loader Bucket Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2029

Loader buckets have been used as an attachment in material handling equipment to load the debris of solid materials from the generated site towards other places or loading in the transporting vehicles. The loader bucket market will reach US$ 3.83 Billion in 2022 and see a promising 4.6% CAGR over the forecast period (2022 to 2029).

The market growth would rely directly on the growth pace of the mining and construction industries estimated to be in the range of 3 – 4%, respectively. Yet, the market is expected to have a notable spur in demand from the waste recycling and management sector. Loader buckets are being increasingly utilized in these industries with demand driven by off-road heavy vehicles that are employed in waste management & recycling, construction, and mining activities.

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Loader Bucket Market Key Takeaways

  • With healthy investments and implementation of construction projects undertaken by public and private sectors, a global material handling equipment fleet and subsequent sales are expected to augment, including the sales of associated accessories and components such as bucket loaders.
  • According to the United Nations, for sustainable development, Asia Pacific would need about US$ 1.5 Tn spending on infrastructural investment, which is equivalent to 5% of the region’s GDP in 2018.
  • Observing the trends in the mining sector, it has been inferred that demand for loader buckets is expected to be generated mainly from surface/open pit mining for ferrous minerals and coal, with the Americas and Asia Pacific being major mining hubs.
  • General purpose buckets are the most recognizable loader buckets as they are capable of accomplishing versatile tasks such as dredging, mining, demolition, excavation, landscaping, landfilling, grading, and heavy lifting in harsh environments. This configuration is estimated to capture almost one-third of the global loader bucket market share.
  • Since waste management has a strong linkage to many global challenges, the incorporation of waste recycling facilities in many countries such as the U.S., Germany, South Korea, and China has increased, in turn, creating substantial market space for loader buckets.

The construction and mining sectors at present are the chief employers of bucket loaders. However, the market will witness a significant impetus from the waste management sector shortly.

The loader bucket market is estimated to be a fairly consolidated market, where market players such as Komatsu Ltd., Caterpillar Inc., and Deere & Company are expected to continue witnessing strong sales order inflow and retain their dominance throughout the forecast period.

Brief Synopsis

The construction industry is playing a pivotal role in the loader bucket market and is expected to bag high volume orders of loader buckets in the global market. Though the mining industry is in a recovery phase in Europe, the region is expected to demonstrate moderate growth in the loader bucket market, backed by favourable end-use industry dynamics and increasing concerns about waste management. Manufacturers of loader buckets are aiming to offer low lifecycle costs and durable loader buckets.

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What Does the Report Cover?

The global loader bucket market study published by FMI offers an exhaustive analysis for the forecast period of 2022-2029. The loader bucket study details market demand across all the regions and the identified emerging countries.

The research also highlights competition scenarios, demand-supply trends, a  key consideration of suppliers, and economic factors influencing the global loader bucket market. Additionally, the study also explains the value chain potential in the global loader bucket market.

Loader Buckets Market by Category

By Capacity :

  • Below 1 yd3
  • Between 1 yd3 to 5 yd3
  • Above 5 yd3

By Bucket :

  • General Purpose Buckets
  • Light Material Buckets
  • Heavy Duty Buckets
  • Multi-purpose Buckets

By Loader :

  • Excavators
  • Wheeled Backhoes
  • Wheeled Loaders
  • Skid Steer Loaders
  • Others

By Application :

  • Rock
  • Woodchip
  • Coal
  • Sand & Gravel
  • Waste Handling
  • High Dump

By Fit Type :

  • First Fit
  • Re-Fit

By End Use :

  • Construction
  • Mining
  • Waste Management & Recycling

By Region :

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

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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
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