Market Research Blog – Page 867 – New Product Development

USA Aluminum Fluoride Market Flourishes Amid Resurgence of Automotive Industry, Report Highlights Strong Growth Potential

Over the projection period, sales in the aluminum fluoride industry are expected to increase at a CAGR of 2.7%. The market size is predicted to be valued at USD 2.3 billion in 2023 and USD 3 billion by 2033.

The aluminum fluoride market is witnessing technological advancements, particularly in the area of refining and purification processes. Continuous efforts are being made to enhance the purity and quality of aluminum fluoride, enabling its application in various industries, such as ceramics, glass, and metallurgy. The market is influenced by regulatory factors and government policies aimed at promoting domestic aluminum production and reducing import dependency, creating both challenges and opportunities for manufacturers.

A significant driver in the aluminum fluoride market size is the increasing demand for aluminum fluoride in lithium-ion batteries. As the demand for electric vehicles and renewable energy storage grows, the need for high-performance batteries rises. Aluminum fluoride plays a crucial role in improving battery performance and stability, driving its demand in this sector.

An emerging trend is the growing focus on environmental sustainability. Manufacturers and consumers are increasingly conscious of the environmental impact of chemical processes. This has led to a shift towards eco-friendly production methods and the development of aluminum fluoride from renewable sources. Companies are exploring innovative techniques to reduce emissions, improve energy efficiency, and minimize waste generation during aluminum fluoride production.

Key Takeaways:

North America, specifically the United States, has been at the forefront of the global aluminum fluoride industry.
The aluminum sector exhibits a notable demand for aluminum fluoride.
The metallurgical industry displays a substantial demand for aluminum fluoride.

“The Aluminum Fluoride Market is experiencing consistent expansion propelled by rising demand from sectors like aluminum manufacturing, lithium-ion batteries, and ceramics, alongside an emphasis on sustainable methodologies,” – remarks an analyst at FMI.

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How Key Players are revolutionizing this market?

Key players in the manufacturing of aluminum fluoride are revolutionizing the market through innovative approaches and advanced technologies. These companies are investing in research and development to improve production processes, enhance product quality, and increase efficiency.

They are adopting sustainable practices, such as optimizing energy consumption and minimizing waste generation, to reduce the environmental impact of aluminum fluoride manufacturing. Key players are also focusing on expanding their production capacities to meet the growing demand from various industries. They are actively engaging in strategic collaborations, mergers, and acquisitions to strengthen their market position, gain access to new markets, and leverage complementary expertise. Through these initiatives, key players are driving the transformation and evolution of the aluminum fluoride market.

Key Players:

Alufluoride Ltd.
Rio Tinto Plc
Tanfac Industries Ltd.
Fluorsid S.p.A
Mexichem S.A.B. de C.V.
Industries Chimiques du Fluor (ICF)
PhosAgro PJSC
Do-Fluoride Chemicals Co., Ltd
Pingquan Greatwall Chemical Co., Ltd.
Gulf Fluor
AB Lifosa
Alufluor AB
Derivados del Fluor

Product Portfolio:

Alufluoride Ltd.’s product portfolio includes aluminum fluoride, cryolite, and other fluoride-based chemicals. They specialize in manufacturing high-quality products for industries such as aluminum smelting, ceramics, and chemicals, offering customized solutions to meet specific customer requirements.
Rio Tinto Plc’s product portfolio comprises a wide range of products, including aluminum, copper, iron ore, diamonds, and various minerals. They are a leading global mining and metals company, supplying essential resources to industries worldwide and focusing on sustainable mining practices and responsible sourcing.

More Insights Available:

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

To understand opportunities in the aluminum fluoride market, the report is segmented on the basis of By Grade (Metallurgical Grade and Other Industrial Grade), Application (Aluminum, Fluorocarbons, Ceramics and Chemical Intermediate), across 5 major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

Market Segmentation:

By Grade:

Metallurgical Grade
Other Industrial Grade

By Application:

Aluminum
Fluorocarbons
Ceramics
Chemical Intermediate

By Region:

North America
Latin America
Europe
Asia Pacific
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.

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Rising Industrial Activity Fuels Sulfuric Acid Demand: A Key Player in Mining, Agriculture, and Infrastructure Development

By 2033, the sulfuric acid industry sales are anticipated to reach a valuation of USD 26,586.30 million. The global market size is poised for significant growth, projected to surpass USD 19,030.60 million by 2023. The sulfuric acid catalyst sales are expected to witness a CAGR of 3.40% from 2023 to 2033.

Growth Stimulants for the Sulfuric Acid Market

The quick adoption of sulfuric acid as a fertilizer has increased crop yields while improving crop quality and quantity.
The sulfuric acid catalyst market expansion is driven by rising industrialization, increased research and development using sulfuric acid, and increased urbanization.
Growing consumer demands for higher-quality crops with nutrients in vegetables and meeting the demands to boost the amount of agricultural products manufactured using fertilizers.
The sulfuric acid market developed due to the swift adoption of electric vehicles and the expansion of the automotive industry due to rising consumer demand.

Hurdles in the Sulfuric Acid Industry

Consumer demand for sulfuric acid as a fertilizer to boost crop yields has increased, which is hazardous to the body and is subject to regulations. A rise in the sulfuric acid rates consistently impedes sulfuric acid catalyst market expansion.
There is a lack of expertise among individuals when it comes to using concentrated sulfuric acid, which is extremely dangerous. A lack of skill could cause a decrease in market growth for sulfuric acid.
The growth of the sulfuric acid market may need to be improved by the availability of substitutes for use in product processing, manufacturing, and production in the chemical industry that can adapt to new chemicals.

Regional Outlook

Owing to the strong presence of industries like mining, agriculture, and chemicals, the sulfuric acid market in North America is predicted to advance steadily.
In North America, the use of cleaner production methods is being encouraged by strict environmental regulations.
Due to the established industrial base, the sulfuric acid market in Europe is expected to grow at a moderate rate.
Market growth for sulfuric acid is going to be fueled by Europe’s emphasis on sustainability and rising sulfuric acid demand from the production of electronics and automobile batteries.
Due to the swift industrialization of nations like China and India, the Asia-Pacific sulfuric acid catalyst market is expected to develop significantly.
Primary consumers are the chemical, construction, and agricultural industries in Asia Pacific. Rising urbanization is pushing up the demand for sulfuric acid.

“Sulfuric acid is essential in the manufacturing and industrial sectors, particularly in manufacturing phosphate-based fertilizers. With the expansion of the food industry, fueled by the rising population and developing-country spending power, demand for sulfuric acid fertilizers is advancing.

Asia Pacific industrial growth is stimulating the global sulfuric acid industry.” says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

Key Takeaways

The segment for elemental sulfur is predicted to grab a sulphuric acid market share of 59.4%.
A 96.2% market share for sulfuric acid is anticipated for the standard purity type sector.
The United States sulfuric acid sales are anticipated to surge at a CAGR of 2.3% by 2023.
The Canada sulphuric acid market is anticipated to accelerate at a CAGR of 2.1% from 2023 to 2033.
Germany sulfuric acid market is to develop at a CAGR of 3% through 2023.
The France sulfuric acid industry is expected to accelerate a CAGR of 2.7% between 2023 and 2033.
The sulfuric acid demand in the United Kingdom is to witness growth at a CAGR of 2.6% from 2023 to 2033.
The Italy sulfuric acid market is to record a CAGR of 2.3% through 2023.
The Spain sulfuric acid market expects growth from 2023 to 2033 at a CAGR of 2.4%.
China sulfuric acid sales are expected to surge at a CAGR of 3.6% until 2033.
India sulfuric acid industry is anticipated to boost at a CAGR of 3.5% by 2023.
ASEAN sulfuric acid sales to soar at a CAGR of 3.3% between 2023 and 2033.
ANZ sulfuric acid industry to register a CAGR of 2.9% through 2023.
Japan sulfuric acid market may exhibit a CAGR of 2.8% by 2023.

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Competitive Landscape

Owing to the abundance of sulfuric acid suppliers and sulfuric acid manufacturers, the global industry is highly competitive. While controlling distribution costs, these businesses employ various strategies to satisfy the expanding demand and broaden their global reach.

Companies are turning to tactics like mergers, acquisitions, joint ventures, and expansions to take full advantage of the opportunities that global markets present.

Recent Developments

Industrial plants started using BASF’s O4-111 X3D and O4-115 X3D sulfuric acid catalysts in July 2022, the first made using the new technology.
The new onsite Waste Heat to Power Plant at PVS Chemicals, Inc. capture waste steam to produce 2.6 MW of renewable electricity through a steam turbine generator in August 2022. Energy Systems Group, LLC is a leading provider of sustainable energy solutions and a wholly-owned subsidiary of CenterPoint Energy, Inc. This partnership will significantly improve sustainability at PVS Chemicals’ sulfuric acid plant.
The additional capacity of the sulfuric acid plant was put into service by Oriental Carbon and Chemicals in April 2022. With effect from March 2025, the company is authorized by ICC to use the ‘Responsible Care’ logo.

Vital Sulfuric Acid Manufacturers

BASF SE
Ineos Group Ltd
KANTO Corporation
Aurubis AG
Avantor Performance Materials, LLC
PVS Chemicals Inc.
Seastar Chemicals
KMG Chemicals
Qingdao Hisea Chem Co.Ltd
Linde Group
Nouryon
Cornerstone Chemical Company
Ma’aden – Saudi Arabian Mining Company
Canada Colors and Chemicals Limited
Hubei Xingfa Chemicals Group Co., Ltd
Asia Union Electronic Chemical Corporation (AUECC)
Tata Chemicals
Trident Group
Boliden Group
UBE INDUSTRIES, LTD.

Sulfuric Acid Market Key Segments

By Purity Type:

Standard
Ultra-pure

By Raw Materials:

Elemental Sulfur
Base Metal Smelters
Pyrite Ores
Others

By Application:

Fertilizers
Petroleum Refining
Metal Production and Processing
- Steel Pickling
- Copper Production
- Metal Surface Cleaning
- Others
Wastewater Treatment
Chemicals Production
Textile Processing
Pulp and Paper Production
Semiconductor and Electronics
- Battery Electrolyte
- Integrated Circuit Components Fabrication
- Photovoltaic Cells
Pharmaceuticals
Domestic Cleaning Products
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and the Pacific
The Middle East and Africa

Source: https://www.globenewswire.com/en/news-release/2023/11/07/2775074/0/en/Sulfuric-Acid-Sales-Flourishes-as-Environmental-Regulations-Surge-Demand-to-Record-a-CAGR-of-3-4-from-2023-to-2033-Future-Market-Insights-Inc.html

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Revolutionizing Bonding: The Rise of Eco-Friendly Structural Adhesives in Construction and Automotive Industries

The structural adhesive market size is expected to reach USD 12,276.7 million in 2023. The market is predicted to reach a value of USD 19,619.8 million in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 4.8%.

Biocompatibility and the ability to bond with biological tissues and materials will continue to be key features of medical and biomedical adhesives. The flexibility of adhesives comes from their ability to bond plastics, metals, and composites together. The benefits of these technologies allow engineers and designers to create innovative and lightweight structures.

The use of structural adhesives can reduce the risk of corrosion in marine and offshore industries, where corrosion is a concern. Structured adhesives can seal and insulate, making them good for applications that need to resist moisture, substances, or temperature variations. In industries such as automotive and aerospace, structural adhesives can be valuable for reducing vibrations and noise.

Using adhesives instead of welds and rivets can help reduce the amount of emissions and waste produced during the application and removal of these materials as environmental regulations become more stringent. Along with simplifying and speeding up the production process and reducing the number of mechanical fasteners, adhesive bonding can be a simple and effective way of simplifying and speeding up the production process.

Researchers and engineers are constantly working on developing new adhesive materials with improved properties. These may include adhesives that are stronger, more durable, resistant to extreme temperatures, and compatible with a wider range of substrates.

An adhesive formulation can be improved by using nanomaterials like nanoparticles and nanotubes. The properties of these nanomaterials can be improved in terms of adhesion strength, toughness, and resistance to environmental factors. Smart or adaptive properties may be added to structural adhesives market growth in the future. In the case of adhesives, self-healing capabilities or improved flexibility can be achieved by changing their properties with changes in the environment or mechanical stress.

Key Takeaways from the Structural Adhesive Market Report:

According to FMI, building & construction are expected to hold 38.3% of market revenue by 2033.
A market share of 39.1% is anticipated for PU-based products in the structural adhesive market.
The United Kingdom is expected to record a CAGR of 3.7% until 2033.
In 2033, the demand for structural adhesives in the United States is expected to increase by 4.6% CAGR.
By 2033, the structural adhesives market in India is predicted to expand at 6.4% CAGR until 2033.

“Eco-friendly and sustainable structural adhesives are growing in demand on the market. A growing number of construction projects and a strong need for high-quality sealants and insulation will drive market growth in the near future.” – says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

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Competitive Landscape:

Structural adhesives are a highly competitive market that several companies occupy. Niche markets for specific demographics are becoming more popular. Strong partnerships and a focus on innovation have helped the market. Recent developments have led to the introduction of a number of structural adhesives.

Market Developments Include:

In April 2023, Henkel streamlined its Adhesive Technologies business by establishing three instead of four business areas. In order to accomplish this objective, they have introduced a new organizational structure, which consists of three divisions, mobility & electronics, packaging & consumer goods, and craftsmen, construction & professional services.
In June 2023, Bostik and Polytec PT launched a new thermal conductive adhesives range to accelerate innovative battery designs. Thermal management – or TIMs – plays an increasingly important role in e-mobility, characterized by fast charging.

Structural Adhesive Market Segmentation:

By Product Type:

Epoxy-based Structural Adhesive
- One Component
- Two Component
Acrylic-based Structural Adhesive
Polyurethane-based Structural Adhesive
Cyanoacrylates
Others

By Application:

Transportation Sector
- Automotive Sector
- Aerospace Sector
- Marine Sector
Building & Construction Sector
Energy Sector
Others

By Region:

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

About Future Market Insights (FMI)

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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Demand for CDU Heat Exchanger Antifoulants Soars as Oil Refinery Investments Surge in Emerging Markets

CDU Heat Exchanger Antifoulants Market

According to a report published by Future Market Insights (FMI), the global CDU heat exchanger antifoulants market share is expected to witness a CAGR of 3.1% from 2022 to 2028. In 2017, the market was worth USD 160.3 Million in 2021 and is estimated to rise to a valuation of USD 197.6 Million by the end of 2028.

Growing environmental concerns across the globe have triggered the adoption of devices and equipment that aid in providing a cleaner environment. In the wake of this, industries worldwide are striving to adhere to the policies that have been implemented by the governments in order to maintain a competitive edge in the global market.

One such chemical that is added to the heat exchanger equipment in oil refineries is antifoulants which help in saving the machine from any form of corrosion. Corrosion inhibitors are used in machinery as they provide long-term benefits such as reducing corrosion and improving the safety of the operational equipment

In order to retain their position in the market, companies are fiercely competing against each other. Their awareness regarding the importance of maintaining their machinery and equipment has increased.

They are also expanding the oil refineries according to the growing application needs and their ability to handle the challenges of the industry. Some of the leading companies operating in the market are BAKER HUGHES, a GE Company, Dorf Ketal, CHIMEC SpA, Croda International Plc, CRISTOL, Eonchemical, Chematek S.p.A., Expert Chem SERV, Innospec, and SUEZ.

Changing Geopolitical Scenario, Coupled with Growing Awareness Regarding the Use of Safe Equipment, Poised to Benefit Market

Globalization, population explosion, and economic changes have not only contributed to the crude oil industry but have also resulted in a rise in the standards of oil and gas services. The formulation of fouling deposits can have a number of effects.

For instance, it can decrease heat transfer, impede fluid flow, and impair the safe operation of equipment. In recent times, people have become vigilant towards the safe operation of equipment, which, in turn, is expected to accelerate the growth of the antifoulant market over the forecast period.

Moreover, huge amounts of fuel additives are utilized in the manufacturing of crude oil. These additives act as the backbone of refinery sectors across the globe.

Refineries strive for reliability and processing flexibility with minimal fouling and impurities. An antifoulant treatment program is the result of the incentive loss.

The burgeoning use of fuel additives for the purpose of oil purity, in turn, is anticipated to boost demand for antifoulants. Spin-off benefits are acquired with treatment programs, which are more important than sustainable benefits.

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Fluctuating Oil Prices to Limit Market Expansion

Feedstock for naphthenic oil and paraffinic oil is processed from base oil, which in turn is a derivative of crude oil. Thereby, the prices of these base oils tend to be unhinged and volatile as they are subject to the uncertainty occurring in the prices of crude oil.

This instability shakes the profitability of manufacturers and in turn, may inhibit market growth. The petro specialty market is majorly dependent on imports and sudden changes in oil prices hamper the regional import trade, thus hindering the growth of crude distillation unit heat exchanger antifoulants market.

CDU Heat Exchanger Antifoulants Market by Category

By Type:

Dispersants
Corrosion Inhibitors
Metal Coordinators
Polymerization Inhibitors

By Region:

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

Source: CDU Heat Exchanger Antifoulants Market to Reach US$ 197.6 million by 2028 Amid Rising Demand for Refined Oil and Technological AdvancementsCDU Heat Exchanger Antifoulants

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Phosphate Conversion Coatings Market on the Rise: Projected 4.0% CAGR Growth from 2022 to 2028

As per exhaustive research by FMI, the global phosphate conversion coatings market size is poised to total USD 1,863.6 million in 2022. Increasing adoption in the production of casing connections to enhance their sealing performance is fueling the demand for phosphate conversion coatings.

Future Market Insights (FMI), Consecutively, increasing demand for automotive vehicles across countries such as the USA, China, Germany, and India is projected to aid the growth in the market. On account of this, sales of phosphate conversion coatings are projected to reach a 4.0% CAGR, surpassing USD 2,359.6 million over the forecast period between 2022 and 2028.

Phosphate conversion coatings transform the basis metal surface into a non-metallic crystalline surface. This enhances appearance, improves corrosion resistance, and promotes adhesion & lubrication.

Hence, these coatings are extensively being used across the automotive industry to enhance auto components such as car frames, engine mounts, and wheels.

Growing demand for the treatment of aluminum, zinc, and steel for creating a thin adhering layer as a foundation to subsequent painting and coatings across the building and construction industry is further driving the growth in the market. This has assisted the market to exhibit 4% year-over-year growth in 2021.

Based on product type, manganese phosphate conversion coatings are anticipated to emerge as the most preferred coating. As per FMI, the segment is poised to exhibit growth at 4.3% CAGR through 2028.

Excellent oil retention and wear resistance properties for corrosion resistance and lubricity are factors facilitating the growth in the segment.

“Increasing research and development (R&D) activities for developing preventive measures to increase the life of the equipment using advance eco-friendly coating solutions across the chemical and oil & gas industries are favoring the growth in the market,” says a FMI analyst.

Key Takeaways from Phosphate Conversion Coatings Market Study

The USA market size is anticipated to total US$ 294.8 Mn, accounting for over 75.4% of total market share by the end of 2022.
China is projected to emerge as a highly remunerative market, accounting for around 1/3th of the total phosphate conversion coatings sales between 2022 and 2028.
Germany is expected to exhibit steady growth across Europe, accounting for nearly 20.5% of the revenue share through 2028.
India is forecast to account for a significant share in the Asia Pacific market, owing to the increasing demand for automotive vehicles in the country.
On the basis of end-use industry, the automotive segment is estimated to register the fastest growth in the market, accounting for more than 47.2% of the sales by 2028.

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Key Drivers

Increasing use of phosphate conversion coatings in underground pipelines, petrochemical equipment, and offshore rigs, owing to its excellent galling protection properties is propelling the demand across the oil & gas industry.
Growing usage of manganese phosphate conversion coatings to prevent metal-to-metal contact between moving parts of automotive vehicles is rising the sales across the manganese segment.

Key Restraints

The increasing shift of customer preference towards eco-friendly solutions such as nano-ceramic conversion coatings is hampering the growth in the market.
Implementation of stringent regulations on toxic and heavy metals use across the US and Germany, is encouraging automakers to use phosphorus-free conversion coatings, which is hindering the sales in the market.

Competitive Landscape

Key manufacturers in the phosphate conversion coatings market are investing in strategic collaborations, merger, and acquisition to expand their production capacities. Also, some of the companies are focusing on developing and launching of new phosphate conversion coatings to expand their product portfolio.

For instance,

In September 2020, PPG Industries, Inc, a global supplier of paints, coatings, and specialty materials announced showcasing its eco-friendly and high-performance coating products and technologies such as DESOTHANE® CA 9000 basecoat/clearcoat system, MASTER’S MARK™ ECO TOUCH™ interior latex coatings, ENVIROCRON® EXTREME PROTECTION EDGE powder coatings, and other to increase its market share.
In January 2018, BASF’s coatings division, a leading conversion coatings manufacturer announced acquiring a global supplier of surface treatment technologies Chemetall. The acquisition assisted the company to expand its surface treatment product portfolio and strengthen its customer base in the coating market

Some of the key players operating in the market profiled by FMI are:

Henkel AG & Co. KGaA
PPG Industries, Inc
The Sherwin-Williams Company
Axalta Coating Systems, LLC
Kansai Paint Co., Ltd.
Chemetall GmbH
Nihon Parkerizing Co., Ltd.
Keystone Corporation
Freiborne Industries, Inc.
Hubbard-Hall Inc.
Crest Industrial Chemicals, Inc.
Westchem Technologies Inc.

More Valuable Insights on Phosphate Conversion Coatings Market

A new report published by FMI offers an in-depth analysis of the global phosphate conversion coatings market, uncovering vital dynamics accelerating the market growth over the assessment period. The survey also forecast sales projections for phosphate conversion coatings market with detailed segmentation:

By Product Type:

Manganese Phosphate Conversion Coating
Iron Phosphate Conversion Coating
Zinc Phosphate Conversion Coating

By Substrate:

Cast Iron
Steel
Others (Aluminum, Magnesium, Titanium)

By End-use Industry:

Automotive
Food & Beverages
Consumer Appliances
Others (Healthcare, Chemical/ Petrochemical, Aerospace, etc.)

By Region:

North America
Latin America
Western Europe
Eastern Europe
South East Asia & Pacific
China
India
Japan
Middle East & Africa

Source: Phosphate Conversion Coatings Market to Surpass US$ 2.35 Bn as Applications in Consumer Electronic Grows: FMI

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Resilient Demand: Magnesium Chloride Sales Surge Amid Pandemic Challenges and Climate Change

Magnesium Chloride Market

The global magnesium chloride market sales are anticipated to expand at a steady 4.3% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Growing demand for deicing services is boosting demand for magnesium chloride.

Surging demand for magnesium chloride from the specific regions with extreme cold weather conditions is driving the market. Magnesium chloride is hygroscopic in nature and quickly absorbs the moisture from the environment which makes it suitable for the various industries such as construction, dust suppressants.

Owing to the increasing demand from deicing and chemicals & derivatives sector is expected to remarkably contribute towards the expansion of the magnesium chloride market.

Growing construction and mining industry is expected to boost the demand for the magnesium chloride owing to its extensive usage to minimize the dust at industrial area.

Magnesium chloride is widely used across various industries for diverse applications, including deicing, dust suppressants, chemicals & derivatives, building materials, pharmaceuticals, food & feed & others. Magnesium chloride is widely used in the construction industry along with the pharmaceutical sector which is expected to boost the market in the forecast period.

According to the report, the global magnesium chloride market is expected to reach more than US$ 580.3 Mn by the end of 2031, at a compound annual growth rate of 4.3% during the assessment period.

Geographically, the market is predicted to be dominated by East Asia, which is expected to continue in the future evaluation period.

Backed by the aforementioned factors, the global magnesium chloride market is projected to top USD 580.3 Million by 2031.

Key Takeaways:

By grade, demand for industrial Magnesium Chloride is expected to surge at a 4.1 % CAGR over the forecast period.
The food & pharmaceutical-grade Magnesium Chloride segment is projected to hold approximately 27% of the total market share in 2021.
Deicing segment of Magnesium Chloride market is anticipated to grow at 4.5 % CAGR through 2031.
Magnesium Chloride Market in the USA is anticipated to reach USD 105.8 Million by the year 2031.
China will emerge as an attractive Magnesium Chloride market, with sales growing at a 6.1 % CAGR in 2021.
Liquid form of Magnesium Chloride is expected to account for over 26.9% of the East Asia Magnesium Chloride market share in 2021.
Japan and South Korea will collectively account for 7% of the total Magnesium Chloride market share through 2021.

“Over the assessment period, sales of magnesium chlorides are expected to be driven by the growing application in deicing and chemicals industries. Besides this, the demand in the followed by construction and pharmaceuticals sectors also will create attractive sales prospects” says an FMI analyst.

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Competitive Landscape

Key participants in the global magnesium chloride market elaborated in the report include Israel Chemicals Ltd., K+S Aktiengesellschaft, Compass Minerals International, Inc., Shandong Haihua Group Co. Ltd., Huitai Investment Group Co., Ltd, Intrepid Potash, Inc., Tianjin Changlu Haijing Group Co., Ltd, DEUSA international GmbH, Nedmag B.V, Nikomag OJSC and others.

Leading players are focusing on collaborations, mergers, and acquisitions to expand their production facilities and distribution channels. For instance:

K+S Aktiengesellschaft decided to provide heavy investment to a new salt brine field in the Netherlands. The new brine field is expected to be developed for directional drilling by 2019 and operational by 2021 end. It will further improve the company’s production capacity by 25% and bring the production level to 1.2 million tpa.

Magnesium Chloride Market by Category

By Product Form:

Liquid
Solid
Flakes
Prills/Pellets

By Grade:

Industrial
Food & Pharmaceuticals

By Application:

Deicing Agent
Dust Suppressants
Chemicals & Derivatives
Building Materials
Pharmaceuticals
Food & Feed
Others

Source: Magnesium Chloride Market is likely to register growth at 4.3% CAGR during the assessment period by 2031 | Future Market Insights, Inc.

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Driving Innovation: The Rising Demand for Advanced OEM Insulation in Electric Vehicles and Electronics

According to Future Market Insights, the size of the global OEM insulation industry growth was around USD 13,727.6 million in 2018. In 2023, it’s projected to generate USD 15,224.6 million in terms of revenue.

The rise of the industrial sector is one of the key reasons driving growth in the OEM insulation industry globally. Insulation materials are increasingly gaining demand from sectors such as automotive, aerospace, electronics, and consumer appliances.

By the end of 2033, the market is anticipated to reach USD 23,284.8 million. It is estimated to witness a 4.3% CAGR from 2023 to 2033.

They are used to improve product performance and efficiency. As these sectors grow and adapt, so will the demand for OEM insulation to improve thermal management.

It would also be extensively used to minimize noise and vibration, as well as satisfy regulatory standards.

Aircraft engines provide thermal insulation, reduce noise levels in the cabin, and safeguard sensitive electronic components.

As the aerospace sector expands to meet the rising demand for air travel, demand for improved insulation solutions is expected to elevate.

The electronics and appliances sectors might further help to drive growth in the OEM insulation market. With the expansion of electronic gadgets and household appliances, insulating materials are becoming increasingly important for managing heat dissipation.

They are also projected to help in preventing overheating and improving energy efficiency. Insulation is an essential component of the production process for electrical gadgets and appliances since it plays a critical role in their performance and longevity.

Increasing production & sales of electric vehicles (EVs) and hybrid vehicles has boosted demand for OEM insulation in the automotive sector dramatically. To ensure optimal performance, these vehicles require excellent insulation materials to regulate the temperature-related properties of their batteries, electric motors, and power electronics.

Sustainable practices and eco-friendly solutions are becoming increasingly important in a variety of businesses. OEM insulation products with a lower environmental effect that are built from recyclable or renewable materials are gaining popularity.

Demand for sustainable insulation solutions that help to reduce energy usage and carbon footprints is driving the market.

Key Takeaways from OEM Insulation Market Study:

East Asia OEM insulation industry is expected to witness a CAGR of 4.3% during the projected time frame.
The global OEM insulation industry witnessed a CAGR of 6% over the historical period from 2018 to 2022.
Japan OEM insulation industry is set to expand at a CAGR of 3% during the forecast period.
India OEM insulation industry is likely to flourish at a CAGR of 8% during the forecast period.
By material, the foamed plastic segment is anticipated to hold around 40% of the OEM insulation industry share in 2023.

“To reduce noise levels in machinery, automobiles, appliances, and other equipment, sound-absorbing insulation materials are being sought after. OEM insulation might successfully limit noise transfer, making the user experience quieter and more enjoyable.

As a result, there will be an increasing demand for OEM insulation materials with outstanding acoustic qualities.” – Says a lead analyst at Future Market Insights (FMI)

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Competitive Landscape

The OEM insulation industry is made up of a variety of well-established companies with a solid market position. These businesses are well-known, have a wealth of expertise, and offer a variety of OEM insulation materials.

They frequently have extensive distribution networks, excellent manufacturing capabilities, and solid connections to OEMs in various sectors.

To create cutting-edge insulation solutions, businesses on the global market would continually make research and development investments. Improved insulating performance, increased energy efficiency, and fulfilling changing industrial needs might be the main areas of attention for technological developments.

Key firms would have a competitive advantage in the market if they could provide cutting-edge, high-performance insulation materials.

For instance,

At Foam Expo Europe in November 2022, Moorefoam, the first and only completely elliptical regenerative open cell foam, was unveiled by Foamplant. Moorefoam can assist producers of beds, furniture, cars, and avionics in making their products more environmentally friendly. By consistently reusing Moorefoam, they can cut their carbon footprint by 90%. They can also significantly lessen the environmental impact of their operations, as well as meet their sustainability goals.

Top Key Player in the Market

Knauf Insulation Inc
Owens Corning Insulating Systems
LLC
Johns Manville Corporation
Saint Gobain
Armacell International S.A
3M
Rockwool Group
BASF
Paroc Group
Others

Get More Valuable Insights into the OEM Insulation Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global OEM insulation industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on material (glass wool, mineral wool, fiberglass, reflective insulation, ceramic insulation, foamed plastic, elastomeric foam, and others), insulation (blankets, rolls and batts, loose fill, and others), end-use industry (aerospace, automotive, marine, HVAC, building and construction, consumers appliances, and others), and regions.

OEM Insulation Market Outlook by Category

By Material:

Glass Wool
Mineral Wool
Fiberglass
Reflective Insulation
Ceramic Insulation
Foamed Plastic
Elastomeric Foam
Others

By Insulation:

Blankets
Rolls and Batts
Loose Fill
Others

By End-use Industry:

Aerospace
Automotive
Marine
HVAC
Building and Construction
Consumer Appliances
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
Russia and Belarus
Balkan and Baltics
East Asia
South Asia and the Pacific
Middle East and Africa

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Market Surge: Rising Demand for Epoxy Curing Agents Driven by Automotive, Aerospace, and Renewable Energy Sectors

The growth of the market is supported by evolving trends such as the replacement of dicyandiamide curing agents have a direct impact on the dynamics of the epoxy curing agents industry.

The global epoxy curing agents market share is expected to witness a healthy CAGR of around 4.6% during the forecast period from 2023 to 2033. The global market is currently valued at around USD 3,658.7 million in 2023 and is anticipated to reach a high of about USD 5,740.0 million by the year 2033.

In addition to that, epoxy-curing agents are highly employed as primers for protective coatings. According to FMI’s historical analysis, the global epoxy curing agents market grew at a CAGR of 3.7% in 2022.

The development of curing agents with low volatile organic compounds is anticipated to increase the demand for epoxy curing agents in the forthcoming years. Furthermore, the upsurge in the requirement from several end-use industries such as the paints & coatings industry is anticipated to bolster growth in the market along with large demand for epoxy resin-based composites in the aerospace and wind-energy industries are expected to fuel the global forum of epoxy curing agents.

According to the experts of Future Market Insights, the global market of epoxy curing agents is expected to have healthy growth. However, it has also been revealed that after studying the market in-depth, certain prevailing elements are likely to curb the growth in the long run.

Key Takeaways

The rising shares and surging growth of the manufacturing sector, construction sector, electronics, and automotive industry are prime drivers of reshaping dynamics in the concerned market.
Due to rapid technological advancements, and increasing consumer shift towards environmentally friendly options, the new environmentally friendly epoxy curing agents extend profitable opportunities to the market players in the forecast period.
Surging demand for electronic products such as smartphones and automotive electronic equipment also increases the demand for epoxy curing agents over the projection period.
According to the research conducted by the experts of Future Market Insights, epoxy curing agents have diverse usage in multiple building and construction applications as they possess high sheer strength, coupled with better quality finish characteristics. Furthermore, rapidly changing trends like replacing dicyandiamide curing agents in the construction sector are likely to make a major contribution to driving the growth of the epoxy curing agents market during the assessment years.
Consumers are drastically shifting their preferences towards a better standard of living owing to a rise in disposable income along with a significant shift of preference within the construction industry for decorative buildings, along with increased spending by the government on sustainable construction, which is estimated to propel the sales of epoxy curing agents further amidst the period 2023-2033.
Increasing demand for adhesives from the construction industry is propelling the growth and advancements within the global epoxy curing agents market. In addition to that, demand for lighter components in the automotive industry is also known as a key demand driver over the projection years.

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Competitive Landscape

The global epoxy curing agents market exhibits lucrative growth opportunities, as the market players are desperate to grab benefits out of the immense opportunities in the market.

The need for improved coatings in construction activities has generated a plethora of opportunities for growth within the global epoxy curing agents market.

Furthermore, the manufacture of silicone rubber also incorporates the utilization of epoxy curing agents which is one of the prominent factors bolstering growth in the market. The epoxy curing agents companies are maximizing their revenue potential by creating sustainable offerings as the sustainability trend is on the rise on a global scale.

Key Players are

BASF SE
Evonik Industries AG
Aditya Birla Corporation
Olin Corporation
Toray Fine Chemicals
Mitsubishi Chemical Corporation
Westlake Corp.
Resonac Holdings Corporation
Cardolite corporation
Atul Ltd.
Henkel Group
SABIC

More Insights into the Epoxy Curing Agents Market

The United Kingdom is expected to dominate the European epoxy curing agents market by accounting for a robust growth of around 8% through the forecast period. The growth in the region is attributed to account for the strong presence of leading aircraft component manufacturing companies all over the country.

Furthermore, a surging preference for lightweight components for manufacturing aircraft structures is propelling the adoption of epoxy-curing agents. A significant increase in the application of epoxy resins in various industries such as construction, paints, and coatings will improve the demand in the market.

Favorable government policies mandating the use of eco-friendly materials are compelling end-users to adopt this product further.

Key Segments in the Epoxy Curing Agents Market

By Product:

Amines and Polyamines
Amides and Polyamides
Anhydrides
Phenolic
Others

By Application:

Paints, Coatings, and Inks
Adhesives and Sealants
Composites

By End Use:

Construction
Electrical and electronics
Power Generation
Automotive and Transportation
Marine
Others

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Elevating Interiors: The Rise of Aesthetic Ceramic Tiles in Home Décor Amidst Increasing Global Income

The ceramic tiles industry growth is predicted to exhibit a 7.2% CAGR through 2033, as per FMI’s analysis. The industry’s size is predicted to extrapolate from USD 97.45 billion in 2023 to USD 195.31 billion by 2033.

The industry is also underpinned by government initiatives to augment infrastructure growth. Other forces like foreign investment, surging per capita income, and swelling population further contribute to the demand for ceramic tiles in buildings.

Customers can opt for ceramic tiles from an extensive collection based on the desired color, shape, design, and size of these tiles. Also, ceramic tiles are observing high adoption due to soaring urban population density and surging investment in commercial projects.

The commercial population looks for an extra modern touch to ceramic tiles that can be accomplished via frying, spray drying, and other methods since urban areas are witnessing surged urbanization and modernization,

Manufacturers are expanding their businesses by releasing new products and employing easy installation techniques to bank on the exploding commercial sector. For the high-traffic commercial sectors, merchants are launching extremely durable and affordably-priced ceramic flooring tiles.

Local and international manufacturers are capitalizing on the advancing technologies in the ceramic tiles industry that tout innovation throughout the board. Over the past few years, technological upgrades in sizes and decoration have changed the face of the ceramic tiles industry.

Players are now able to deliver sophisticated designs, great realism, new shapes, sizes, thicknesses, shapes, and improved performance to capture customers with high budget.

Top Highlights from the FMI’s Analysis of the Ceramic Tiles Market

South Korea’s market for ceramic tiles is gaining ground owing to the increasing construction of buildings like offices, housings, and schools.
India is estimated to accelerate at a significant CAGR. The market expansion can be credited to the government initiatives to boost infrastructural growth.
China is expected to witness significant CAGR escalation supported by the increasing foreign investment in the country.
Japan is expected to portray significant investment options for leading businesses. The surging construction of attractive buildings for shopping malls, airports, and offices is expected to drive the regional growth.
Australia emerges as a leading business option due to heightened investment in the country’s commercial projects.

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Developments Setting the Trends in the Ceramic Tiles Market

In July 2023, WOW introduced the Moorish ceramic tile collection. The Casbah line comes in a spectrum of colors, influenced by the green shades of nature and blue tones of the Med Sea.
In June 2022, Qutone Ceramic introduced a new collection of tiles called ‘Fastrack’ and renovated its existing product portfolio at Spectrum’ 22 in New Delhi. Spectrum’ 22 witnessed an exclusive product launch and channel partners meet. The collection reveals exclusive designs in several finishes aimed for the modern-day interiors.
In September 2021, Kajaria Ceramics, a prominent manufacturer of ceramic and vitrified tiles, introduced a new collection of tiles in J&K. The new collection was presented in Taj Vivanta Srinagar and was unveiled by a new royal collection of tiles in J&K.
Taeyoung, a ceramic firm, planned to establish two Compacta sorting lines in January 2021, outfitted with the Miltigecko system and Falcon Millennium palletizer.
Sujeong Ceramics, a South Korean company, started providing free estimation services for goods like toilet bowls, tiles, faucets, sinks, etc.

Top Key Players in the Global Market

RAK Ceramics
Crossville Inc.
Atlas Concorde
Saloni Ceramica
Porcelanosa Grupo
Gruppo Ceramiche Ricchetti
Florida Tile
Mohawk Industries
Kajaria Ceramics
China Ceramics Co., Ltd

Key Segmentation

By Product:

Floor Tiles
Wall Tiles
Other Tiles

By Application:

Residential Replacement
Commercial
New Residential
Others (facades, countertops, etc.)

By Region:

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

About Future Market Insights (FMI)

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Pre-Made Bags Market Projected to Surge to USD 61.7 Billion by 2031, Driven by Demand for Versatile and Convenient Packaging Solutions

The global pre-made bags market is set to experience significant growth, estimated to reach USD 61.7 billion by 2031, up from USD 33.0 billion in 2021. With a projected compound annual growth rate (CAGR) of 6.5% during the forecast period, this segment of the packaging industry continues to gain traction across diverse sectors.

In 2020, pre-made bags generated revenue of USD 31.0 billion, underscoring their popularity among consumers and manufacturers alike. The convenience and versatility of pre-made bags, which are ready for immediate use and compatible with a wide range of products—including liquids—are primary factors driving market growth.

Key Factors Fueling Pre-Made Bags Market Growth

The pre-made bags market is characterized by several key drivers:

Convenience and Versatility: Pre-made bags are manufactured using advanced bag-making technology, offering a variety of shapes, sizes, colors, and dimensions. Their ease of use eliminates the need for on-site bag production, making them an attractive option for industries such as food & beverage, pharmaceuticals, personal care, and retail.
Innovative Features: With closure features such as zippers, pre-made bags help prevent spillage and protect contents from external factors like moisture and temperature. Their lightweight and economical design further enhances their appeal.
Customization: The ability to tailor pre-made bags to meet specific customer needs fosters demand, particularly in sectors where presentation and product integrity are crucial.

Trends Influencing the Pre-Made Bags Market

The market is witnessing notable trends, including:

Popularity of Paper Pre-Made Bags: Paper pre-made bags with window openings are gaining traction for their aesthetic appeal and functionality, serving not only as packaging solutions but also as attractive gifting options during various occasions.
Comparison with Form-Fill-Seal (FFS) Technology: Pre-made bags offer flexibility in design and lower costs of entry compared to traditional FFS bags, further enhancing their market competitiveness.

Challenges Facing the Pre-Made Bags Market

Despite strong growth prospects, the pre-made bags market faces several challenges:

High Manufacturing Costs: The requirement for advanced machinery and equipment to produce customized pre-made bags can lead to significant upfront costs, posing a barrier for new entrants.
Sourcing Sustainable Raw Materials: The variability in the availability of sustainable materials, such as paper, can complicate procurement processes and impact production efficiency.

Competitive Landscape

The following global key players such as

Sonoco Products Company
Mondi Group Plc.
Amcor Plc
ProAmpac LLC
Glenroy Inc.
Sealed Air Corporation
C-P Flexible Packaging
Clifton Packaging Group Ltd.

Key Asian players manufacturing pre-made bags

Parikh Packaging Private Ltd.
WRAPEX
Asiapak Pte Ltd.
UFlex Ltd.
Shiva Plastics.

Access Full Report: https://www.futuremarketinsights.com/reports/pre-made-bags-market

Key Segments of Pre-made Bags Market Covered in the Report

Based on Material Type:

Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
- Polyamide (PA)
Paper
Aluminium laminate

Based on Closure Type:

Zipper
Spout
Others (flip lid, etc.)

Based on Application:

Bakery & Confectionary
Ready-to-eat Meals
Meat & Poultry
Fruits & Vegetables
Others (dairy products, etc.)

Based on the End-use:

Food & Beverages
Healthcare & Pharmaceutical
Personal Care & Cosmetics
Others (consumer goods, etc.)

Based on the Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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