Market Research Blog

The boric acid market sales are projected to reach USD 1,438.1 million by 2034, growing at a 5.4% CAGR. In 2024, the industry size stands at USD 851.7 million, driven by factors like rapid industrialization and increased construction activities.

Boric acid is experiencing significant growth due to its widespread use in various industries, including oil, lubricants, textile fibers, glass, and welding. It is also used in agriculture as a flame retardant, antibacterial substance, and pesticide.

Research centers are exploring ways to make boric acid more eco-friendly, particularly in agriculture and water management. The industry is also focusing on renewable energy sources like solar energy, which is gaining popularity due to its low cost. The demand for energy-efficient elements and borosilicate glass is also increasing, particularly in the construction sector.

The demand for boric acid is rising in various industries due to its diverse applications in agriculture, industrial manufacturing, pharmaceuticals, wood preservation, and personal care. Its role in controlling fungal and bacterial infections in crops, formulating various products in personal care, and contributing to the glass-making process in construction contribute to its market expansion.

Strict regulations and price fluctuations for boron minerals hinder boric acid growth. These regulations affect the handling and usage of boric acid, increasing production costs and transportation. Safety protocols also limit its use in consumer products. The fluctuating cost of boron minerals in boric acid formulations further restricts its competitiveness and industry growth.

Asia Pacific is expected to rule the market due to industrialization and construction growth in emerging economies. North America is expected to experience significant growth due to increased demand in pharmaceutical and cosmetic industries.

“The boric acid sector is experiencing significant growth due to the growing popularity of organic and sustainable agriculture practices. Additionally, its applications in energy storage, advanced materials, and electronics contribute to this growth. Furthermore, its potential in emerging markets is driven by economic development, industrialization, and increasing demand in multiple sectors.” Say an FMI analyst.

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Key Takeaways from the Boric Acid Market

• Boric acid serves as a versatile compound utilized in both the oil and gas industry as well as agriculture. It is expected to achieve a forecasted CAGR of 3.3% within Canada’s market.
• Spain is directing its focus towards innovative applications of boric acid, anticipating a projected CAGR of 4% until 2034 within its market. This compound finds primary use in Spain’s glass, textile, and cosmetic industries.
• In India, the market is poised for an 8% CAGR, driven by rapid urbanization and population expansion, particularly in the construction and pharmaceutical sectors.

Competitive Landscape of the Boric Acid Market

High-profile industries are investing heavily in research and development to expand the boric acid industry. They are partnering with small-scale companies and making strategic investments while formulating local products to cut costs and target a wider customer base. This strategy enables the expansion of sales and consumer base for key players in the boric acid sector. The industry is expected to see lucrative growth opportunities in the coming years.

Recent Development

Borax introduced Optibor@ BQ in 2023, a high-quality powder-grade boric acid product designed to meet its exceptional purity and particle size requirements.

Leading Boric Acid Brands

• Borax
• Tomiyama Pure Chemical Industries
• 3M
• Sociedad Industrial Tierra
• Avantor Performance Materials
• Societa Chimica Larderello (SCL)
• BASF
• Russian Bor
• Searles Valley Reserves
• Eti Maden
• Minera Santa Rita (MSR)
• Gujarat Boron Derivatives
• Quiborax

Key Segmentation of Market Report

By End User:

End users present in this industry are tiles, ceramic, and fiberglass manufacturers, flame retardants, agriculture, wood preservation, pharmaceuticals, and cosmetics.

By Application:

Boric acid finds application in industrial/commercial and household sector.

By Distribution Channel:

Boric acid is distributed through wholesale, eCommerce, retail shop, hypermarket/supermarket, independent shop, and convenient shop.

By Region:

Regional analysis of the industry include top performing countries of North America, Latin America, the Asia Pacific, Middle East and Africa, and Europe.

Old Source: Boric Acid Market to Receive Overwhelming Hike USD 1,409 Million in Revenues by 2032 | Says FMI Analyst

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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The global cellulose derivative industry size is estimated to secure a valuation of USD 6.1 billion in 2023 and reach USD 10.3 billion by 2033. The market secured a CAGR of 5.4% during the forecast period.

Which Factors are Driving the Global Market?

Several factors are influencing the global market to contribute to growth and development.

• Increasing Demand in Food & Beverages: The demand for cellulose derivatives is rising in the food & beverages sector as emulsifiers, thickeners, and stabilizers. The rising demand for convenience and processed foods to improve stability and texture in food products is fueling the global market.
• Expanding Pharmaceuticals and Personal Care Industries: The pharmaceuticals and personal care sectors are increasingly adopting cellulose derivatives for drug formulations, film formers, and controlled-release agents.
• Sustainable and Renewable Nature: The growing popularity of plant-based cellulose derivatives drives the global market for renewable sources. This sustainability raises concerns about an environment that offers a biodegradable and renewable alternative.
• Rising Demand for Functional and Specialty Papers: The increasing demand for packaging materials, filtration papers, and coated paper increases the adoption of cellulose derivation. Increasing demand for specialty papers in various end-use industries such as food & beverages, healthcare, and electronics.
• Technological Advancements and Product Innovation: The increasing investment in research and development activities driving the global market. Growing advanced technologies in the cellulose derivative, such as nanotechnology and chemical modifications, expand the global market.
• Growing Construction Industry: The rising demand for construction materials such as gypsum, cement, and mortar products. These products enhance workability, water retention, and adhesion, driving the global market.
• Growing Cosmetic and Personal Care Sector: Increasing demand for shampoos, creams, lotions, and other cosmetics fuels the global market revenue. These products improve sensory properties, thickening, and emulsion stabilization.
• Regulatory Factors: The rising regulatory frameworks and standards regarding environment and product safety drive the market size. The increasing compliance with regulations with FDA approvals ensures the acceptance of cellular derivation products in several industries.

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Key Takeaways: 

• The cellulose derivation market is estimated to capture a valuation of USD 10.3 billion with a CAGR of 5.4% by 2033.
• In the historical period, the market secured a CAGR of 4% between 2018 and 2022.
• The United States is estimated to register a share of 21.4% in the global market by 2033.
• With a share of 7.4%, Germany is securing a share of the global market during the forecast period.
• Japan is estimated to capture a share of 5.3% of the global market by 2033.
• With a share of 2.1%, Australia is anticipated to drive the market size during the forecast period.

How Key Players Take Efforts to Drive the Global Market?

The market is highly competitive by several prominent players globally. These players are developing innovative products by adopting advanced technologies in the global market. Key players heavily invest in research and development activities to fuel the market size. They are adopting various marketing tactics such as mergers, collaborations, and partnerships to uplift the global market.

Recent Developments in the Global Market

In 2021, Nouryon announced its new manufacturing facility to innovate sustainable additives. The company increases the production of paint and coatings with eco-friendly additives to increase the business portfolio.

Some Leading Cellulose Derivative Manufacturers Include:

1. Shin-Etsu Chemical Co. Ltd
2. LOTTE Fine Chemical
3. Samsung Fine Chemicals
4. Daicel Corporation.
5. Akzo Nobel N.V.
6. Ashland Inc.
7. SE Tylose GmbH & Co. KG
8. CP Kelco
9. Shandong Head Europe B.V.
10. Sichuan Nitrocell Co Ltd

Cellulose Derivative Market by Category

By Derivative Type:

• Methyl
• Carboxymethyl
• Hydroxyethyl
• Ethyl
• Other Types

By Derivative Grades:

• Food Grade
• Pharmaceutical Grade
• Industrial Grade

By End Use:

• Food Industry
• Pharmaceutical Industry
• Personal Care
• Construction
• Paint Industry
• Others

By Region:

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

About Future Market Insights (FMI)

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The market survey by FMI found the global sales of braze alloys, in terms of value, reached a net worth of around USD 2,678.9 million in 2022. Furthermore, this report predicts the whole market could experience strong growth this year and reach an estimated value of about USD 2,759.3 million.

During the projection period of FMI from 2023 to 2033, this forecast shows a promising yearly growth rate of 4.5% for this market. Additionally, the FMI research points the global market to a great worth of USD 4,285.1 million by 2033.

This development trajectory is driven by the rising demand for braze alloys across numerous sectors, including construction, electronics, automotive, and aerospace. Such alloys are essential for attaching different materials and components for their outstanding strength, corrosion resistance, and great thermal conductivity.

Besides the expanding automotive and electronics industries, the demand for braze alloys is driven by the emerging nations’ fast industrialization and infrastructure expansion. Also, the growing emphasis on energy-efficient technologies, improvements in production techniques, and an increase in the use of lightweight materials have increased their usability.

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Key Takeaways from the Braze Alloys Market Study Report

• Due to their key industries and technical breakthroughs, North America and Europe presently hold a monopoly on the global market for braze alloys. The United States alone contributed to nearly 17.1% of the global braze alloy sales globally in 2022.
• In Europe, Germany was figured out to be the leading supplier of braze alloys, and it held a global market share of 12.7% in the year 2022.
• With an anticipated CAGR of 2% from 2023 to 2033, the United Kingdom market for braze alloys is set for promising growth through 2033.
• In terms of geography, the market presently has strong growth potential in Asia Pacific and the Middle East. China and India, for instance, are anticipated to register 3.6% and 3.9% CAGRs, respectively, in consumption of braze alloys over the forecast years.

Competitive Landscape for the Braze Alloys Market Players

The top Key Players are

1. Johnson Matthey Plc.
2. Morgan Advanced Materials plc.
3. Lucas-Milhaupt Inc.
4. Oerlikon Metco
5. Umicore N.V.
6. Bellman-Melcor LLC
7. Harimatec Czech
8. S.R.O
9. VBC Group

These leading businesses are concentrating on product innovation, strategic partnerships, and mergers and acquisitions to preserve a competitive edge in this changing market environment.

The market prediction shows significant long-term development potential, pointing to profitable prospects for industry participants and stakeholders recently entering this sector. Moreover, the booming electronics and automobile industries in the Asia Pacific countries are anticipated to create better opportunities for the market players. Additionally, the start-ups merging in this region are making huge investments in research and development projects for creating improved braze alloys and compete in the global market.

Recent Developments by the Braze Alloys Manufacturing Industries

• In August 2021, a new multipurpose solder paste was introduced, by Indium Corporation, by the name of Indium12. The company claims electronics, medical equipment, and aircraft are just a few of the targeted sectors for which this paste has been developed.
• In April 2022, Special Metals Co. introduced a brand-new series of brazing alloys, particularly for the aircraft sector. These alloys are intended to be highly corrosion-resistant with improved temperature resistance for aeronautical applications.

Key Segments Profiled in the Braze Alloys Market Survey

By Product Type:

• Copper
• Gold
• Silver
• Aluminium
• Others

By Application:

• Automotive
• Electronics
• Aerospace
• Others

By Region:

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

Browse Another Publication: Braze Alloys Market Set to Exceed US$ 4.2 Billion by 2033, Fueled by Diverse Industry Demand

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

In 2023, the global condensing unit industry size is anticipated to be worth USD 40.607 billion. During the projection period from 2023 to 2033, the market is expected to thrive at a 6.6% CAGR to generate USD 76.944 billion.

Cooling Solutions on the Rise: Exploring the Global Condensing Unit Market

Factors such as rising demand for condensing units in commercial and industrial sectors in emerging countries, as well as the benefits provided by these units such as high sturdiness and duration, are escalating the market growth for condensing units.

Rigorous environmental restrictions governing refrigerants used in condensing units may stymie the global industry. Moreover, there are a few important factors that can augment the expansion of the condensing unit market such as:

• The growing demand for condensing units in the business and industrial sectors of developing economies.
• Rising demand for high-quality condensing units for various applications.
• Increasing retail sector growth.

Refrigeration Reimagined: Unleashing the Potential of Natural Refrigerants in the Condensing Unit Market

The increasing diversity of technical improvements, together with increased demand for natural refrigerants, can provide the potential for market expansion. Moreover, tight environmental regulations on refrigerants used, on the other hand, may impede market growth.

The growing number of difficulties and uncertainties for manufacturers can provide a challenge to the condensing unit industry. Further, the business and industrial sectors such as food retail, food-producing industries, and business refrigeration boost the global condensing unit business.

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Environmental Guardians: Leading the Way with Low-emission Condensing Units

Energy savings and reduced use of refrigerant condensing devices are popular among the commercial and industrial sectors. Moreover, the growing number of commercial complexes, workplace areas, and feeding suites fuels the demand for condensing units. The condensers play an important part in the production of plants, which propels the global condensing unit market.

• The F-gas (HFCs, PFCs, and SF6) rule, which was updated in 2015 by the EU Commission for edge-growing emissions, may constrain the condensing unit business. The condensing unit manufacturers improve their technology, conserving energy and becoming environment-friendly.

Icy Opportunities: Asia Pacific’s Prosperity in the Condensing Unit Industry

Asia Pacific is predicted to develop as a prominent region in the global condensing unit industry. Further, the condensing unit sales are to develop at a significant CAGR due to a growing population, expanding food goods and services, and increased investments in chemicals and petrochemicals. Also, growth in the chemical and electrical industries helps the region flourish.

The region’s market is expanding due to rising demand for food processing and storage facilities. China is expected to account for the lion’s share of the regional condensing unit business. The government of China is encouraging the use of natural refrigerants in a variety of applications. Refrigerants are used in heat pumps, room air conditioners, and commercial and industrial refrigeration systems.

Key Takeaways in the Condensing Unit Market

• The air-cooled segment in the product type category is estimated to grab a share of 65% from 2023 to 2033.
• In the refrigerant type category, the R404A segment is to acquire a market share of 22.9% between 2023 and 2033.
• The United States condensing unit business is likely to get a share of 25.5% by 2023.
• Germany’s condensing unit industry is to capture a share of 7.8% by 2023.
• Japan’s condensing unit business is likely to hold a share of 9.1% by 2023.
• Australia’s condensing unit market is to acquire a share of 7.1% by 2023.
• China’s condensing unit sales are projected to expand at a CAGR of 6.1% through 2033.
• India’s condensing unit industry is predicted to develop at a CAGR of 6.7% from 2023 to 2033.
• The condensing unit sales in the United Kingdom are expected to evolve at a CAGR of 5.8% through 2033.

Competitive Landscape

The global condensing unit market is intensely competitive. To improve their market position, the players have employed new product releases, expansions, collaborations, acquisitions, contracts, joint ventures, and divestments.

Emerson Electric Co., Carrier Worldwide Corporation, Danfoss, GEA Group Aktiengesellschaft, Heatcraft Refrigeration Products LLC, Voltas Limited, Bitzer SE, Advansor A/S, Baltimore Aircoil Company, SCM Frigo S.p.A., and Evapco Inc. are among the leading worldwide condensing unit manufacturers.

Latest Advancement

• Emerson Electric Strengthens its Portfolio with the Acquisition of General Electric’s Intelligent Platforms

In February 2019, Emerson Electric Company, based in the United States, purchased General Electric’s Intelligent Platforms. The latter’s programmable logic controller technology may almost certainly expand Emerson Electric Company’s already extensive product portfolio and enhance its machine control capabilities.

Key Segmentation

By Type:

• Air-Cooled
• Water Cooled
• Fan Cooled

By Refrigerant Type:

• R404A
• R134a
• R407A/R407C/R407F
• R507A or R22
• Green Refrigerants

By Compressor Technology:

• Reciprocating
• Hermetic
• Semi-Hermetic
• Open
• Rotary
• Scroll
• Rotary Vane
• Screw
• Centrifugal

By Application:

• High-Temperature
• Medium Temperature
• Low Temperature

By End Use:

• Residential
• Commercial
• Industrial

By Region:

• North America
• Europe
• Asia Pacific
• Latin America

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The value of the basalt fibre industry is anticipated to reach USD 275.2 million in 2024 and is expected to reach USD 824.8 million by 2034. The forecasted CAGR for the market between 2024 and 2034 is 11.60%. The basalt fibre industry is being propelled forward by the increasing demand for lightweight and high-strength materials across various industries such as automotive, construction, and aerospace is fueling the adoption of basalt fibre. Its remarkable properties, including high tensile strength and resistance to corrosion, make it an attractive alternative to traditional materials like steel and fibreglass.

The growing emphasis on sustainability and environmental concerns is driving the demand for eco-friendly materials like basalt fibre, which is derived from natural volcanic rock. Furthermore, technological advancements in manufacturing processes are enabling the production of basalt fibre at lower costs, making it more accessible to a wider range of applications. Overall, these factors are driving the growth of the basalt fibre industry and positioning it as a promising solution for various industrial needs.

Despite its promising potential, the basalt fibre industry faces several challenges that act as restraints to its growth. One major challenge is the competition from alternative materials such as carbon fiber and fibreglass, which offer similar properties but may be preferred in certain applications due to cost or performance considerations. Moreover, the relatively limited awareness and understanding of basalt fibre among end-users and manufacturers can hinder its adoption and market penetration.

The rising investments in infrastructure development projects, particularly in emerging economies, offer lucrative opportunities for the basalt fibre industry to supply materials for construction, reinforcement, and insulation purposes. Moreover, ongoing research and development efforts aimed at enhancing the properties and applications of basalt fibre open up new avenues for innovation and market expansion.

The basalt fibre industry is witnessing several noteworthy trends that are shaping its trajectory. One prominent trend is the increasing focus on product diversification and customization to meet the specific requirements of different applications and end-users. Manufacturers are investing in developing new variants of basalt fibre with enhanced properties such as improved flexibility, fire resistance, and thermal insulation. Another trend is the growing adoption of automation and advanced manufacturing technologies to streamline production processes and improve efficiency in basalt fibre manufacturing.

There is a rising trend towards collaborations and partnerships between industry players to leverage complementary strengths and expand market reach. Furthermore, the integration of basalt fibre into emerging technologies such as 3D printing and composite materials is opening up innovative possibilities and driving further demand for the material. Overall, these trends underscore the dynamic nature of the basalt fibre industry and its continuous evolution to meet evolving market demands.

“The basalt fibre industry presents numerous opportunities for growth and expansion. One significant opportunity lies in the increasing demand for sustainable and high-performance materials across industries such as transportation, infrastructure, and renewable energy. Basalt fibre, with its eco-friendly nature and superior properties, is well-positioned to capitalize on this trend and capture a larger market share.” Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

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Key Takeaways from the Market Study

• In 2024, continuous basalt fibre emerges as the dominant product type, capturing a substantial 63.10% market share.
• The residential and municipal sector claims an impressive 77.40% share of the end-use segment in 2024.
• The United States maintains its presence in the basalt fibre market, boasting a 6.40% CAGR until 2034.
• The United Kingdom stands strong in the basalt fibre market, maintaining a consistent 4.50% CAGR through 2034.
• Japan leads the basalt fibre market with a steady CAGR of 4.80% until 2034.
• China basalt fibre market to rise with an impressive CAGR of 12.90% until 2034.
• India shows promising growth in the basalt fibre market with a stellar CAGR of 17.20% through 2034.

Competition Outlook of the Basalt Fibre Market  

The competition outlook for the basalt fibre market is characterized by a mix of factors shaping the industry landscape. As demand for sustainable and high-performance materials continues to rise across various sectors such as construction, automotive, and aerospace, manufacturers are increasingly focusing on innovation and product development to gain a competitive edge. Companies are investing in research and development to enhance the properties of basalt fibre, such as strength, durability, and fire resistance, to meet the evolving needs of end-users. Additionally, strategic partnerships and collaborations are emerging as key strategies to expand market presence and leverage complementary strengths in production, distribution, and technology.

However, the market also faces challenges, including competition from alternative materials, such as carbon fibre and fibreglass, which offer similar properties but may be preferred in certain applications due to cost or performance considerations. Moreover, regulatory standards and certification requirements play a significant role in influencing market dynamics, with compliance often serving as a barrier to entry for new players. In this competitive landscape, companies that can effectively innovate, differentiate their offerings, and navigate regulatory complexities are poised to succeed and capitalize on the growing opportunities in the basalt fibre market.

Recent Developments:

• Basalt Engineering, LLC, based in the United States, received FDOT facility clearance in November 2022, opening the path for the Florida Department of Transportation to incorporate Bastech Basalt FRP materials into key transportation infrastructure projects.
• Basaltex, a basalt fibre product industry leader headquartered in Belgium, has launched a new range of fiber textiles designed specifically for aerospace and automotive applications. The lightweight, high-strength textiles are designed to endure extreme temperatures, meeting the needs of the aerospace and automotive industries.
• In November 2021, Zhejiang Shijin Basalt fibre Co., Ltd. (GBF) announced the development of basalt fibre yarn-wrapped CNG cylinders with GBF brand monofilament diameter 7-micron twist-less roving and a working pressure of ≥ 20MPa, catering to the automotive sector’s demand for advanced materials.
• Mafic USA has begun operations at its cutting-edge basalt fibre manufacturing factory in Shelby, North Carolina, marking the start of North America’s first such facility.

Key Companies in the Market

• ASA.TEC GmbH
• BASALTEX NV
• Technobasalt
• DOSHINE INTERNATIONAL TRADE CO., LTD.
• Zhejiang GBF Basalt Fibre Co, Ltd.
• Sichuan Aerospace Tuoxin Basalt Industries Co. Ltd.
• Togliattiazot
• Shanxi Basalt Fibre Technology Co. Ltd.
• Sudaglass Fibre Technology
• Galen Ltd.
• HG GBF Basalt Fibre Co, Ltd
• Basalt America (Paymeon, Inc.)
• Mineral 7 CJSC
• ARMBAS
• JiangSu TianLong Continuous Basalt Fibre High-tech Co., Ltd.
• Kamenny Vek
• Basalt Fibre & Composite Materials Technology Development Co. Ltd. (BF & CMTD)

Key Segments

By Product Type:

• Continuous Basalt Fibers
• Super Thin Basalt Fibers
• Staple Thin Basalt Fibers
• Basalt Scale & Materials

By Application:

• Composite
• Non Composite

By End-Use Industry:

• Construction
• Mining
• Automotive
• Aerospace
• Residential & Munciple
• Shipbuilding
• Power Generation
• Electric & Electronics
• Wind Turbines
• Others

By Region:

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

Read Complete Research: Basalt Fiber Market Set for Explosive Growth, Reaching $824.8 Million by 2034 | Future Market Insights, Inc.

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

According to FMI, between the years 2023 and 2033, the demand for specialty oils is projected to expand at a consistent CAGR of 3.3%. By 2033, the global market is projected to have a significant valuation of USD 178.8 billion as a result of this promising growth trajectory. Research on the production of specialty fats and oils has greatly expanded in recent years with its rising use in several industrial applications.

The specialty oil industries witnessed promising growth trends in the last decade, and their overall market value was USD 125.4 billion in 2022. Further market growth is anticipated to continue, with a predicted worth of USD 129.2 billion in the current year 2023. The rising use of specialty oils in industries like manufacturing and transportation is supporting this encouraging trend.

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Key Takeaways from the Specialty Oils Market Study Report

• The overall market is anticipated to experience an absolute dollar growth of nearly USD 50 billion over the next ten years.
• The United States is the leading manufacturer as well as consumer of specialty oils and held a global market share of 19.6% in 2022.
• The sales of specialty oils in China are projected to expand at a year-on-year growth rate of 4.1% through 2033. Meanwhile, India is also projected to experience promising growth in this sector and cross a market value of USD 10 billion by 2033.

Competitive Landscape for the Specialty Oils Market Players

Leading specialty oil producers are prepared to take advantage of the growing market prospects by creating a wide range of product lines. By adding sustainable specialty oils to their product line, existing players can satisfy the increased market need and fortify their competitive edge.

Specialty oil manufacturers can make use of technology improvements to streamline their production procedures and raise the quality of their finished products. They may increase their consumer base and seize new market sectors by catering to the particular demands of diverse industries, like automotive, manufacturing, and healthcare.

Key Companies Profiled

1. Calumet Specialty Products Partners, L.P.
2. CASTROL LIMITED
3. Chevron Corporation
4. Exxon Mobil Corporation
5. H&R GmbH & Co. KGaA
6. Eni SpA
7. Ergon, Inc.
8. GOC Petrochemicals Private Limited
9. Grauer & Weil (India) Limited
10. Gulf Oil Lubricants India Ltd
11. Idemitsu Kosan Co., Ltd.
12. BP Plc.
13. Gandhar Oil Refinery (India) Limited
14. Quaker Houghton Inc
15. China Petroleum & Chemical Corp (Sinopec Corporation)
16. TOTAL Energies
17. Shell plc.
18. Nynas AB
19. Savita Oil Technologies Ltd
20. Panama Petrochem Ltd.
21. Petroliam Nasional Berhad (PETRONAS)

Recent Developments by the Specialty Oils Manufacturing Industries

• Leading chemical company BASF S.E. made a noteworthy statement in 2022 announcing its entry into the market for sustainable specialty oils by developing a new range of products. It utilizes renewable feedstock to create such oils and hopes to meet the changing demands of clients that place a high value on eco-friendly products.
• Global specialty chemicals manufacturer Evonik Inc. made a statement in 2023 outlining its plans to grow in the specialty oil sector. It wants to efficiently meet the rising demand for specialty oils in the Asia Pacific region by establishing facilities to produce them there.
• Akoma, a popular supplier of specialty oils, was acquired by the famous specialty chemicals business Clariant in a significant event in 2023. This purchase was part of Clariant’s large growth plan of strengthening the company’s position in the international market and diversifying its supply chains.
• A well-known energy business company named Idemitsu Kosan announced in 2023 its new range of specialty oils made especially for electric cars (EVs). In contrast to traditional IC engines, electric cars have particular lubricating needs, and these new specialty oils are designed to satisfy the requirements.

Segments Covered in Specialty Oils Industry Survey Report

By Product Type:

• White Oil
• Automotive Oil
• Transformer Oil
• Industrial Oil
• Liquid Paraffin
• Rubber Process Oil
• Petroleum Jelly
• Other Product Types

By End Users:

• Automotive
• Power Generation
• Pharmaceutical
• Personal Care & Cosmetics
• Food & Beverages
• Manufacturing
• Heavy Engineering Equipment
• Transmission & Distribution
• Other End Users

By Region:

• North America Market
• Latin America Market
• Europe Market
• East Asia Market
• South Asia & Pacific Market
• Middle East & Africa (ME&A) Market

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

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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The global stainless steel foil market share is poised for substantial growth, with an anticipated market size of USD 6.3 billion by 2022, projected to expand to USD 10.4 billion by 2032. This market is expected to demonstrate robust growth with a commendable compound annual growth rate (CAGR) of 6.2% over the forecast period from 2022 to 2032. The increasing demand for stainless steel foil is driven by its crucial role in enhancing dimensional stability, particularly in protecting steel tool components against contamination during heat treatment processes, which will continue to drive its sales.

Stainless steel foils are celebrated for their inert and environmentally friendly properties. Their durability meets the demands of sustainable construction, ensuring long-lasting performance. Significantly, they do not leach when exposed to various elements, including water, highlighting their eco-conscious attributes.

Stainless steel, often praised as a corrosion-resistant alloy composed of nickel, aluminum, iron, and other metals, is regarded as an eco-friendly or “green” material due to its high recyclability.

Market Drivers

The global surge in demand for durable yet lightweight metal packaging solutions is expected to drive the growth of the stainless steel foil market in the coming years. These versatile foils are being transformed into alloys, finding widespread applications in the pharmaceutical, food, and dairy industries.

The flexibility of these foils allows companies to easily tailor, press, or perforate them to meet specific application needs. Additionally, incorporating additives like nickel and chromium further enhances their durability and strength, making them suitable for various industrial requirements.

Restraints:

• Cost: Stainless steel foils can be more expensive than alternative materials, which may deter budget-conscious projects or industries.
• Energy-Intensive Production: The manufacturing process of stainless steel can be energy-intensive, affecting both production costs and environmental considerations.
• Weight: Stainless steel is heavier than some alternative materials, which can impact transportation and installation costs.
• Competing Materials: In some applications, stainless steel faces competition from alternative materials, such as aluminum or plastics, which may offer cost advantages or weight reductions.
• Market Fragmentation: The stainless steel foil market can be fragmented, with various grades and thicknesses, which may necessitate specific product knowledge.
• Environmental Concerns: While stainless steel is recyclable, challenges in collection and recycling systems can affect its sustainability.

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Key Market Players:

• AK Steel Corporation
• ArcelorMittal, Nisshin Steel Co., Ltd.
• Tata Steel Limited
• Ulbrich Stainless Steels & Special Metals, Inc.
• Reliance Foundry Co. Ltd.
• Jindal Stainless Ltd.
• A.J. Oster, LLC
• Hollinbrow Precision Products (UK) Ltd.
• All Foils, Inc.

Key Segments Profiled in the Stainless Steel Foil Industry Survey:

By Grade Type:

• 304 Stainless Steel
• 316 Stainless Steel
• Others (430, 201, 301, 309, 302, 321, and 347)

By Product Type:

• Austenitic Stainless Steel
• Ferritic Stainless Steel
• Martensitic Stainless Steel
• Duplex Stainless Steel

By Material Type:

• Iron
• Chromium
• Nickel
• Molybdenum
• Others (Manganese)

By Application:

• Void Filling
• Cornering
• Insulation
• Blocking & Bracing

By End Use:

• Automotive
• Electrical & Electronics
• Pharmaceutical
• Chemical
• Defense
• Aerospace
• Building & Construction
• Industrial
• Food
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact FMI:  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube