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The global PAG compressor oil market is currently valued at USD  1.4 Billion in 2023 and is anticipated to expand at a CAGR of 8.7%. Owing to the increasing application in end–use industry the market is likely to propel to USD 3.22 billion by 2033.

PAG Compressor oil market is witnessing a significant growth, especially in East Asia and South Asia Pacific. Strong industrial infrastructure spending in regions such as Europe and North America has resulted in the significant growth in the market.

The demand is expected to rise consistently in industries such as generation, automotive, chemical industry, pharmaceuticals, food and beverages and others. Increasing demand from the automotive industry for high-performance lubricants that can withstand high temperatures and extreme pressure is expected to drive the growth of the PAG compressor oil market.

Asia Pacific has become the hub of the automotive industry in the last few years. The surge in demand for automobiles in expanding economies, such as China and India, is driving the global automobile industry, which in turn is boosting the need for PAG compressor oil market.

The rise in the number of investments in the automotive sector, typically in the Middle East & Africa, is expected to be a key factor that propels the PAG compressor oil market in the region.

Key Takeaways from the Market Study

• As of 2023, the PAG compressor oil market was valued at US$ 1.4 Billion
• From 2023 to 2033, the PAG compressor oil industry is poised to grow at an 8.7% CAGR
• By 2033, the PAG compressor oil market is slated to reach a valuation of US$ 3.44 Billion
• By end-user, the general manufacturing segment accounted for the highest CAGR of 8.1% and is expected to continue this trend over the forecast period.
• China is poised to yield a CAGR of 8.5% with respect to PAG compressor oil in 2033

“Increasing usage of PAG Compressor oil in the Automotive, general manufacturing, mining, and construction industries are expected to radically transform the PAG compressor oil market in the coming years,” comments an analyst at FMI.

Competitive Landscape

Idemitsu Lubricants America, Boss Lubricant, Castrol, Phillip 66 Lubricant, Total Lubricant USA Inc., Mannol, AMSOIL, Exxon Mobil Corporation, Technical Lubricants International B.V., Shandong Shing Chemical Co., Ltd.  are some of the key players in the PAG Compressor Oil industry.

The manufacturers are involved in the production of PAG Compressor Oil in a larger capacity. The global PAG Compressor Oil Market is consolidated with the presence of major international players. However, the presence of small- and medium-sized domestic players makes the market highly competitive.

• ExxonMobil, Shell, CNOOC, and Guangdong Provincial Development & Reform Commission have signed a Memorandum of Understanding to evaluate the potential for a world-scale carbon capture and storage project to reduce greenhouse gas emissions at the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province, China.
• May 2020 – Idemitsu Lubricants America provides incredible new levels of engine protection with its line of fully synthetic motor oils that meet and exceed the new SP/GF-6A industry standards for more protection, performance and power. Also, Idemitsu has introduced a new 0W-16 SP/GF-6B Ultra-Low Viscosity Motor Oil with robust additive technology that exceeds forward-looking lubrication standards.
• In March 2021— Independent Truck Repair Group (iTRG) announced that they have teamed up with Phillips 66 Lubricants to offer a national oil program for their members. Through this new program, iTRG members will have access to special pricing, promotional materials, rebates and enhanced education and technical support on Phillips 66 (NYSE: PSX) premium diesel products.

Discover Detailed Findings in the Complete Report!

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the PAG compressor oil market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the PAG Compressor Oil Market by by Compressor Type (Reciprocating Compressor, Rotary Compressor, Centrifugal Compressor) by End-user (Automotive, Mining, Construction, General Manufacturing, Food & beverages, other).

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 persulfates market is projected to reach USD 869.7 million in 2023 and grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2033. This is a result of increased persulfate usage by significant end-use sectors including electronics and plastics.

The market is expected to be driven by increased persulfate demand in the electronics industry as well as rising consumer preference in the paper, pulp, and textile industries. Electronics, polymers, and other industrial manufacturing processes were motivated by the 2021 laws’ ease of application.

The market for persulfates has grown more rapidly as a result of this. The potential for persulfates to generate revenue in the upcoming years will be driven by the development of the electrical and electronic sectors as well as the improved efficiency of polymers.

The US electronics market is the largest in the world in terms of size. Due to the utilisation of advanced technology, an increase in the number of R&D facilities, and a growth in consumer demand, it is likely to maintain its position as the market leader during the anticipated timeframe.

As a result, this component will significantly increase market revenue in North America. The development is attributed to the existence of a sizable number of plastic manufacturing industries in nations like China, Indonesia, and Malaysia.

Key Takeaways from Market Study

• Asia Pacific has emerged as the dominant region, accounting for more than 45.5% of revenue in 2021
• In 2022, the polymers segment led the market, accounting for more than 51% of total revenue
• In 2021, the ammonium segment dominated the industry with overall revenue of more than 50.5%
• Over the forthcoming years, North America is expected to grow at a revenue-based CAGR of 3.8%
• As reported by the Chemicals and Petrochemicals Manufacturers’ Association (CPMA), polymer production in India was 12.35 million tons in 2020 and 13.54 million tonnes in 2021.

“The market size is attributed to rising persulfate consumption from major end-use industry segments such as polymers and the electronics industry” says an analyst at Future Market Insights.

Key Market Players

Key players in the Persulfates market are Evonik Active Oxygens; RheinPerChemie; UI VR Persulfates; MITSUBISHI GAS CHEMICAL COMPANY, INC.; Fujian ZhanHua Chemical Co., Ltd.; Ak-Kim; Yatai Electrochemistry Co. Ltd.; Hebei Jiheng Group; Fujian Jianou Yongsheng Industry; San Yuan Chemical Co., Ltd.

• Evonik Industries AG announced the successful completion of its procurement of PeroxyChem in February 2020.
• Calibre Chemicals, an Indian specialty chemicals company, acquired RheinPerChemie GmbH from Evonik in September 2022.
• Everstone Capital, a Singapore-based firm, announced the acquisition of a majority stake in Calibre, a persulfate producer, in August 2021. With the help of Everstone’s substantial and strategic resources, this collaboration aims to transform Calibre from a family-owned company into a global manufacturer.
• United Initiator, an international persulfate manufacturer, launched its sodium persulfate plant in Huaibei, China, in October 2019. This new plant has a production capacity of 10,000 tons per year.

Gain Detailed Understanding by Reviewing the Complete Report!

Key Segments Profiled in the Persulfates Market Survey

Persulfates Market by Type:

• Ammonium
• Sodium
• Potassium

Persulfates Market by End Use Industry:

• Polymers
• Electronics
• Pulp, Paper, And Textile
• Oil & Gas
• Water Treatment
• Others

Persulfates Market by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

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 global cleanroom flooring market is experiencing significant growth, with sales projected to surge at a compound annual growth rate (CAGR) of 6.5% between 2024 and 2034. This robust expansion is driven by the increasing demand for sterile environments across various sectors, including pharmaceuticals, biotechnology, and electronics, where maintaining stringent cleanliness and contamination control is paramount. By 2034, the demand for cleanroom flooring is estimated to reach approximately USD 4,598.4 million, reflecting the critical role that advanced flooring solutions play in ensuring compliance with industry standards and enhancing operational efficiency in cleanroom applications.

Cleanroom flooring market growth is being driven by stricter healthcare regulations, rigid standards, and consumer demand for high-quality products, an increase in the frequency and public awareness of infectious and contagious diseases, an increase in the need for drugs and vaccines, and expanding healthcare infrastructure.

Additionally, the growing global usage of consumer electronics gadgets is pushing semiconductor demand. Furthermore, the rise of the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) is providing prospects for growth in the semiconductor business, assisting memory chips in processing enormous volumes of data in less time. Because of the sensitivity of technical processes, nanotechnology and semiconductor facilities must be free of dust and particles.These facilities’ floor finishes feature a floor-to-wall cove base with no grout lines or tile edges, resulting in a dust-free environment. These elements are propelling the segment’s market.

In conclusion, the growing need for improved and quicker memory chips in commercial applications is driving development in the semiconductor industry.

Here are the key growth drivers for the cleanroom flooring market:

1. Increased Regulatory Compliance: Stricter regulations and standards in industries such as pharmaceuticals, biotechnology, and food production necessitate the use of specialized flooring to ensure contamination control and maintain cleanroom environments.
2. Rising Demand in Pharmaceuticals and Biotechnology: The expansion of the pharmaceutical and biotech sectors, particularly due to the increased focus on research and development, drives the demand for cleanroom flooring solutions that meet stringent hygiene requirements.
3. Growth of the Electronics Sector: The production of sensitive electronic components, which requires controlled environments to prevent contamination, boosts the demand for durable and reliable cleanroom flooring materials.
4. Technological Advancements: Innovations in flooring materials, including anti-static properties, chemical resistance, and ease of maintenance, enhance the appeal of cleanroom flooring solutions across various industries.
5. Expansion of Healthcare Facilities: The growth in healthcare infrastructure, including hospitals and laboratories, is driving the need for cleanroom environments, thereby increasing the demand for appropriate flooring solutions.

Key Players of the Cleanroom Flooring Industry

• Tarkett
• Armstrong Flooring
• Forbo Flooring Systems
• Gerflor SAS
• Johnsonite
• Mohawk Industries
• BASF SE
• MAPEI Corporation
• Roppe Holding Company
• Stonhard
• Sika AG
• Polyflor Ltd
• Lindner AG

Uncover Extensive Insights with the Full Report!

Key Segments of the Cleanroom Flooring Industry

By Material Type:

In terms of Grade, the industry is divided into epoxy flooring, vinyl flooring, polyurethane flooring, methyl methacrylate (MMA) flooring, anti-static flooring, resilient flooring and others.

By Application:

In terms of Application, the industry is divided into pharmaceutical and biotechnology, healthcare and hospitals, food and beverage, electronics and semiconductor, chemical and material processing, research and development laboratories and others.

By Region:

Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, the Middle East, and Africa (MEA), have been covered in the report.

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 USA lubricant contaminated HDPE container waste market is expected to reach USD 150.77 Billion and is projected to grow at a CAGR of 4% over the forecast period. Over the forecast period, the market for lubricant-contaminated HDPE containers in the USA is expected to reach USD 225 Billion. As commercial vehicle sales rise, lubricants for commercial vehicles are expected to be increasingly popular, driving the waste disposal market for lubricant-contaminated HDPE containers in the United States. Custom-sized containers are often produced by manufacturers based on customer requirements. Additionally, HDPE containers larger than 50 liters are mainly used in industrial applications, which fuels their demand.

Food manufacturers can produce a wider range of foods with fewer naturally U.S lubricant contaminated HDPE container wastes as demand for natural lubricant contaminated HDPE container wastes has grown over the past few years. In addition, the automotive industry makes up a significant amount of the market for lubricant-contaminated HDPE containers in the United States and substantially contributes to its growth.

Due to the emergence of state laws and regulations, the polyethylene recycled plastic market is projected to grow from 2016 to 2019, accounting for about 25% of the US market share. In packaging, recycling plastics is growing in popularity as well as knowledge about plastic waste management is increasing. Environment-friendly methods for producing and disposing of plastic are emerging. Hence the market for USA lubricant-contaminated HDPE container waste market.

Key Takeaways from the Market Study

• According to market forecasts, the USA lubricant contaminated HDPE container waste market is set to reach USD 225 billion by 2032.
• According to projections, the automotive sector is expected to grow at a CAGR of 5.8% between 2023 and 2033.
• 30-50 liters of container size are expected to account for more than 22% of the global market.
• Recycle plastics are expected to grow at a revenue share of 98% over the forecast period.
• The market for lubricant contaminated HDPE container waste in the U.S. is expected to grow to US$ 225 billion by 2032.

“High demand for recycled plastics, automotive sales, and sustainable packaging containers are predicted to boost the demand for lubricants contaminated HDPE containers in the U.S. market over the next few years,” comments an analyst at FMI.

Competitive Landscape

Consolidated Container Company, Nye Lubricants, Inc., Scholle Ipn Corporation, Greif, Inc., Mauser Group B.V., Milford Barrel, BWAY Corporation, Rahway Steel Drum Company, Inc., Container Distributors, Inc., Jakacki Bag & Barrel, Inc., KSCI Container Services, CKS Packaging, Inc., Polycon Industries, Inc., Trico Corporation, Encore Container, SCHÜTZ Container Systems,

By partnering strategically, manufacturers are able to boost production and meet consumer demands, increasing revenue and market share. Manufacturing products that are beneficial to the end user by utilizing new technologies and products. Expansion of production capabilities can be facilitated through strategic partnerships.

• In April 2022, Encore Container, a leading provider of plastic drums and IBC totes, announced it would diversify its product line to serve new customers in new markets, starting in January by offering 77-gallon plastic drums and expanding in the coming months. In order to take advantage of these new opportunities, they are investing in 77-gallon drums.

Access the Complete Report for a Comprehensive Overview!

More Valuable Insights Available

FMI, in its new offering, presents an unbiased analysis of the USA lubricant contaminated HDPE container waste market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the U.S Lubricant Contaminated HDPE Container Waste market analysis report by Application (Industrial, Automotive, Aerospace), by Container Size (0-30 Liters, 30-50 Liters, Greater than 50 Liters), by and by Plastic Use (Re-Use, Recycle).

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 Future Market Insights (FMI), demand for potassium fluoborate is estimated to reach USD 439.2 Million by the end of 2032. The potassium fluoborate market is expected to grow at a CAGR of 4.0% owing to consistent demand from end-use industries such as automotive, metal processing, oil & gas, and others.

Growth in the market is driven by rising demand for abrasives from the metal processing & automotive industry. Abrasives find a major role in the automotive industry, as these are used for polishing, grinding, cutting & other functions. Potassium fluoborate is water insoluble source of potassium & is used in oxygen-sensitive applications.

Potassium fluoborate is employed in a variety of industries which demands different specifications such as purity. Nano-scale particles & with more than 99% purity are utilized in crucial applications. Also, these are utilized in the production of sodium fluoborate, and ammonium fluoborate, which are further used in agrochemicals. Hence, the market has a direct impact from the growth of these end-use industries.

“Growing consumption of potassium fluoborate coupled with increasing utilization of fluxing agents, soldering agents & abrasives in different end-use industries is expected to drive the market during the projected period,” said an analyst at FMI.

Key Takeaways from Potassium fluoborate Market Study

• Demand for potassium fluoborate is to witness a growth outlook of around 4.0% over the coming assessment period.
• Metal processing & abrasives is expected to remain key applications, accounting for more than 60% of the volume consumption.
• Abrasive is predicted to remain a key application segment and is expected to utilize potassium fluoborate at a rate of 4.9% over the forecast period.
• Adoption of new & advanced manufacturing technologies to produce a pure form of potassium fluoborate & expansion of production capacities are expected to remain the main key trends in the market.

Competitive Landscape

The potassium fluoborate market is a consolidated market with the presence of some dominant key market players. These players are holding more than 50% of the market share. Some of the top manufacturers included in the research study are Solvay S.A., Morita Chemical Industries, Harshil Industries, Honeywell Fine Chemicals, AMG Aluminum, Madras Fluorine Ltd., Stella Chemifa Corporation, Triveni Chemicals, Skyline Chemicals, American Elements, PARTH INDUSTRIES, Foshan Nanhai Fluoride Chemical Co. Ltd., Derivados Del Flúor (DDF) and others are the some of the manufacturers of Potassium fluoborate profiled in the full version of the report.

Some of the notable key developments in recent years include increased production capacity and the introduction of new and improved manufacturing procedures.

Manufacturers are focusing on the launch of a new product line in purity form, as well as continued research and development to expand their product portfolio. Furthermore, industrial participants are focusing on developing manufacturing units to increase the core business.

Uncover Extensive Insights with the Full Report!

Potassium Fluoborate Market Segmentation

By Purity:

• Less than 99% Purity
• 99% & above purity

By Grade:

• Technical Grade
• Reagent Grade

By End-use:

• Soldering Agent
• Metal Processing
• Abrasives
• Fluxing Agent

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, 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

 

A recently published study by FMI expects the global above the waist PPE market to augment at a 5.9% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of USD 50 Billion is expected for the market. Increasing worker safety awareness on the workshop floor is predicted to drive up demand for above the waist PPE throughout the forecast period.

The developing industrial sector and increased awareness about personal protective equipment are likely to drive above the waist PPE market expansion over the forecast period. Continuous innovation, such as the development of lighter and more comfortable industrial protective equipment manufactured of high-quality fabric, is likely to drive market growth.

Demand for protective equipment that combines safety with improved aesthetics and technological innovation is projected to drive market growth. Because of stringent laws and high costs connected with workplace dangers, industry players are becoming more conscious of the need of worker safety and security at work, which is expected to fuel market expansion. Companies have prioritised worker safety and implemented safety norms to decrease workplace dangers, resulting in increased market growth.

Key Takeaways from the Market Study

• FMI projects the global Above the Waist PPE market to expand at a 5.9% value CAGR by 2032
• The global Above the Waist PPE market is estimated at a market value of US$ 28 Billion
• The global Above the Waist PPE market is expected to garner a market value of US$ 50 Billion
• Asia Pacific is expected to be the most lucrative for Above the Waist PPE market growth.
• North America is expected to grow significantly during the forecast period.
• The construction sector is expected to lead the market for Above the Waist PPE in the forecast period 2022-2032.

“The hearing protection product category is expected to increase considerably throughout the study period. The constant use of heavy machinery and the noise it generates might cause hearing difficulties in workers. This has increased the need for earplugs and earmuffs in the construction and mining sectors to prevent workers from hearing loss, which is expected to drive segmental adoption,” says an analyst at FMI

Market Competition

Key players in the Above the waist PPE market are Safety Products, Inc., 3M, Drager, Radians, SureWerx USA, Inc, Honeywell International, Inc., Hellberg Safety, Kimberly-Clark Corporation, MSA Company, and Protective Industrial Products, ERB Industries, Inc.

Recent Development

• In January 2022, Kimberly-Clark introduced new nitrile gloves for research and production facilities, life sciences, and non-sterile drug manufacturing applications. The company’s product offerings were to be improved as part of the strategic plan.

Gain Detailed Understanding by Reviewing the Complete Report!

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global above the waist PPE market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of product (head protection, eye & face protection, hearing protection, respiratory protection and hand protection), end-use (construction, manufacturing, oil & gas, chemical, food, pharmaceuticals, transportation, mining) and distribution channel (retail and industrial MRO), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and 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.

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 Future Market Insights, the global N-Propanol Market Size is expected to grow from USD 308.6 Million in 2022 to USD 420.6 Million by 2032, with overall demand surging at 3.1% CAGR throughout the forecast period. Rising demand for paints, coatings, pharmaceuticals, etc. across the world is a key factor expected to drive the global market for n-propanol during the forecast period.

In recent years, end-use industries for n-propanol, including coating, food, and beverages, cosmetics, automotive, pharmaceutical, and construction have been growing at a global level. Most of these industries utilize n-propanol for various applications. Thus, expansion of these industries across the globe, especially in developing nations such as China and India, will play a crucial role in driving the global n-propanol market during the forecast period.

Similarly, growing demand for alternative fuels to conventional ones is expected to boost sales of n-propanol during the projection period. As renewable transportation fuels, liquid multi-carbon alcohols like n-propanol are a desirable option. They are simple to carry across large distances, have great energy densities, and can be used directly in place of conventional internal combustion engines. It is desirable to have engineering catalysts that prefer high-value alcohols.

In addition, increasing investment flow in this space and a rise in drug approvals by regulatory bodies are expected to fuel the drug manufacturing procedures, which in turn will positively impact the global n-propanol market.

Despite several promising growth potentials, the market is currently facing several difficulties which are anticipated to limit the growth potential. Environmental regulations, particularly in the chemical sector, are becoming stricter when it comes to the usage of chemically treated products that are also linked to the development of risks when used close to people. This might serve as a barrier for the global market during the forecast period.

“Consistently growing demand from end-use industries, particularly coatings, chemicals, and pharmaceuticals is expected to drive the global n-propanol market swiftly over the next ten years,” says a lead analyst at FMI.

Key Takeaways from N-Propanol Market Study

• The global n-propanol market is estimated to expand at 1% CAGR on a value basis through 2032.
• By application, solvents segment is estimated to create an incremental $ opportunity of about US$ 60.5 Mn during the forecast period (2022-2032).
• Based on end use, pharmaceuticals and coatings segments will generate maximum revenues throughout the forecast period.
• North America and Europe are expected to collectively hold around 8% of the overall market share.
• The U.S. is a prominent importer of n-propanol with an estimated import volume of 35,146.5 tons of n-propyl alcohol.
• Demand for n-propanol across China is expected to grow at a steady pace over the next ten years.

Who is Winning?

The n-propanol market is highly consolidated in which key players are expected to account for a major share of the market. Some of the top manufacturers include BASF SE, The Dow Chemical Company, Eastman Chemical Company, Sasol Limited, OQ Chemicals, Spectrum Chemicals, Solvay S.A., Dairen Chemical Corporation, Zibo Nalcohol Chemical Co., Ltd., Solventis Ltd., and Hefei TNJ Chemical Industry Co., Ltd.

Key players are focusing on increasing their production capacity to expand their footprint all over the globe and to gain traction in the market. Further certain key players are focusing on investing in n-propanol production owing to a significant increase in the demand from the coating industry.

For instance, On July 29, 2021, BASF SE announced a joint R&D initiative with Eni to reduce the CO2 footprint of the transportation sector. The companies collaborated to develop sustainable technology to produce bio-propanol from industrial residues.

Discover Detailed Findings in the Complete Report!

N-Propanol  Market Segmentation

By Application:

• Solvents
• Chemical Intermediates
• Entrainer
• Deicing Fluids
• Others

By End Use:

• Pharmaceuticals
• Household & Personal Care Products
• Chemical Production
• Coatings
• Anti-freeze
• Others

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, 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

 

India’s retail mineral turpentine oil industry value is forecast to increase from USD 52.5 billion in 2024 to USD 129.2 billion by 2034. Over the assessment period, demand for retail mineral turpentine oil in India is projected to rise at a CAGR of 9.4%.

The construction industry is expected to significantly increase its consumption of mineral turpentine oil by 2034, driven by increased infrastructure investments. The retail mineral turpentine oil industry is primarily driven by the increasing demand for wooden furniture, driven by high per-capita income, and aesthetic appeal. The industry uses both local and imported wood, with India being a key importer of wood.

Traditional furniture preferences have led to a rise in wood-based furniture, fueling demand for retail mineral turpentine oil. Mineral turpentine is anticipated to be utilized as an extraction, cleaning, and degreasing solvent in various industries including paints, construction, chemicals, and automobiles. The industry is further set to be boosted by the increased use of mineral turpentine oil as a solvent in paint thinners.

Demand for wood protection products, such as primers, coatings, and paints, is also on the rise. Mineral turpentine oil, a petroleum-derived solvent, is gaining popularity due to its affordability and versatility. However, the high cost of plant-based turpentine oil, created by distilling certain plant components, raises its overall cost.

Key Takeaways from the Report

• Demand for retail mineral turpentine oil in India expanded at a CAGR of 7.1% during the historical period from 2019 to 2023.
• The 10.1 L to 20 L segment by packaging size is projected to hold for 41.4% share in 2024.
• The wood primer segment by application is expected to account for a 60.7% share in 2024.
• Total industry revenue reached USD 49.1 billion in 2023 in India.
• The industry is projected to reach a value of USD 52.5 billion in 2024.

“The retail mineral turpentine oil sector in India is highly oligopolistic, with Hindustan Petroleum Corporation Ltd. and Bharat Petroleum Corporation Ltd. holding over three-quarters of the industry. Growth of the petroleum and paint industries growth has significantly impacted sales, with MTO being utilized in various sectors for cleaning, including paints, varnish, and industrial cleaning.” –says a lead analyst at Future Market Insights (FMI).

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Competition Outlook

Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, Nayara Energy Ltd., Mehta Petro-Refineries Limited, Jay Chemical, and Shambhoo Petrochem (p) Ltd. are the leading manufacturers and suppliers of India retail mineral turpentine oil listed in the report.

Key manufacturers in India are ensuring a sufficient supply of mineral turpentine oil to meet rising demand due to the rapid expansion of the paint industry. They are also broadening production capacity or forming strategic alliances with local firms to meet the expected demand increase in the retail sector.

Leading India retail mineral turpentine oil manufacturers are focusing on technological advancements, sustainable practices, and expanding their presence. They prioritize customer satisfaction and tailor machines to meet diverse business needs.

Industry Updates-

• In October 2023, Bharat Petroleum Corporation Limited (BPCL), announced the amalgamation of its subsidiary refinery, Bharat Oman Refineries Limited (BORL), in Bina.
• In 2023, PM dedicated BPCL’s projects worth Rs 9,800 crore to the nation, marking the start of a series of transformative initiatives.
• In 2023, Indian Oil Corporation Limited plans to spend USD 15 billion by 2025 to triple its refining capacity, aiming to boost the retail mineral turpentine oil industry.

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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