Market Research Blog – Page 921 – New Product Development

Surge in Bonded Magnet Sales Forecasted: Industry Expected to Exceed USD 4,150.99 million by 2034 Amidst Growing Demand for Lightweight Components

The bonded magnet industry demand is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The market size is projected to be around USD 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass USD 4,150.99 million by 2034.

The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like plastics or composites. These hybrid systems offer unique properties and performance characteristics, catering to specific application requirements such as weight reduction or thermal stability.

One significant limitation is the lower magnetic performance compared to conventional magnet materials like neodymium. While advancements in manufacturing processes have improved the magnetic properties of bonded magnets, they may still not meet the requirements of high-performance applications. Moreover, the complexity and cost of manufacturing bonded magnets, particularly in custom shapes and sizes, pose challenges for small and medium-sized enterprises.

With ongoing research and development efforts, manufacturers can further enhance the magnetic performance of bonded magnets, expanding their applicability in high-performance sectors such as aerospace and defense. Furthermore, the growing trend towards electric mobility and automation creates demand for compact and efficient magnetic components, driving the market for bonded magnets.

“The increasing adoption of electric vehicles and renewable energy technologies offers a significant growth opportunity for bonded magnets, particularly in motor and generator applications,” Says an FMI analyst

Key Takeaways from the Market Study

The ferrite magnets segment holds a significant market share of 47% in 2024, favored for their affordability and versatility.
Calendering bonded magnets dominate with a substantial 63.10% market share in 2024 due to cost-effectiveness and scalability.
The United States’ bonded magnet industry is projected to grow at a CAGR of 3.9% through 2034, driven by demands from various sectors.
Australia’s market is expected to rise at a CAGR of 4.6% through 2034, propelled by renewable energy projects and infrastructure development.
China’s bonded magnet sector anticipates a CAGR of 5.4% through 2034, supported by its diverse manufacturing and EV market.
India’s industry forecasts a CAGR of 5.3% through 2034, driven by government initiatives and demand for compact devices.
Germany’s market is set to rise at a CAGR of 5.9% through 2034, fueled by the automotive and automation sectors’ demand for high-quality components.

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Competitive Landscape

In the bonded magnet industry, traditional brands like Honeywell and Munters face off against agile startups like Briza and Blaux, each wielding distinct strengths. Differentiation is key, with manufacturers competing on factors like cooling efficiency, water usage, portability, noise levels, and smart home integration. Sustainability also plays a crucial role, with eco-friendly materials and water-saving features attracting eco-conscious consumers. Established players team up with technology providers to integrate smart features, while startups partner with established distributors to reach wider audiences.

Recent Developments:

Arnold Magnetic Technologies acquired Ramco Electric Motors, Inc., a stators, rotors, and whole electric motor manufacturer, in March 2021. The purchase broadens Arnold’s capabilities and products in the e-mobility industry.
Alliance LLC announced the launch of its new website in February 2021, showcasing its goods and services in bonded magnets, rare earth magnets, and magnetic assemblies.
Dexter Magnetic Technologies introduced a new range of bonded neodymium magnets in January 2021, specifically designed for high-temperature and high-corrosion applications.

Key Companies in the Market

Arnold Magnetic Technologies
Alliance LLC
Dexter Magnetic Technologies
TDK Corporation
Adams Magnetic Products
SDM Magnetics Co., Ltd.
Ningbo Yunsheng Co. Ltd.
Advanced Technology Materials Co. Ltd.
MMC Magnetics Corp
Dura Magnetics, Inc.
National Imports, LLC
Super Magnet Co., Ltd.
MP Material

Key Segments

By Product:

Rare Earth Magnets
- NdFeB
- SmCo
Ferrite Magnets
Others (Alnico, SmFeN, Hybrids)

By Process:

Injection Molded Bonded Magnets
Compression Bonded Magnets
Calendaring Bonded Magnets
Extrusion Bonded Magnets

By Application:

Sensors
Motors
HDD (Hard Disk Drives)
Level Gauges
Instrument Panels
Copier Rotors
Fuel Filters
Magnetic Couplings

By End Use:

Automotive
HVAC Equipment
Medical Devices
Cameras
Consumer Electronic Appliances
Computers and Magnetic Storage Devices
Electrical Equipment
Measurement Instruments
Printers and Copiers

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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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Bromine Market Surge: Expected to Reach USD 4.7 billion by 2033, Driven by Growing Demand in Agriculture and Electronics

The bromine market size is expected to be worth USD 2.53 billion in 2023 and USD 4.7 billion in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 6.3%.

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

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

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

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

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

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

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

Key Takeaways

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

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

Competitive Landscape

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

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Market Developments Include

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

Top Key Players in the Global Market

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

More Valuable Insights Available

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

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

Segmentation Analysis of the Bromine Market

By Derivative:

Organobromine
Clear Brine Fluids (CBF)
Hydrogen Bromide

By Application:

Biocide
Flame Retardant
Oil and Gas Drilling
Plasma Etching
PTA Synthesis
Fumigant Synthesis
Others

By End Use:

Oil & Gas
Chemicals
Pharmaceuticals and Cosmetics
Electronics and Consumer Goods
Textile
Medical
Agricultural and Pesticides
Automotive
Building and Construction
Water Treatment
Other Industrial

By Region:

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

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Global Silanes Market Set to Reach USD 4,652.4 million by 2033: Key Trends and Growth Drivers

The global silanes market size is anticipated to reach a valuation of USD 2967.29 million in 2023 and is projected to accumulate over USD 4652.40 million by 2033 while exhibiting a CAGR of 4.6% during the forecast period.

The demand for silane is rising due to high demand from paint & coating formulators and adhesive & sealant manufacturers. Factors like green building construction, residential complex expansions, and increasing renovation activities have boosted the demand for construction sector adhesives. This is expected to drive the market to new heights in the coming years.

Silane plays a crucial role in the electronics industry, particularly as silane gas is extensively used in semiconductors, which are essential components in electronic devices. The increasing global demand for electronic gadgets and devices is expected to significantly contribute to the market’s growth.

The demand for paint and coating products is on the rise, driven by the expanding construction sector that extensively employs silane-based coatings. Over the forecast period, this trend is expected to escalate. Notably, the Asia Pacific region’s growing construction projects and the increasing infrastructural renovation activities in North America and Western Europe are major contributors to the heightened demand for various industrial coatings, adhesives, and plastic components.

The Middle East and South America regions are experiencing a surge in demand for automobiles, leading to an increased need for lightweight, durable plastic components and tires. This surge in demand necessitates a substantial supply of silane products to sustain continuous production operations.

Increased environmental awareness is expected to drive the demand for solvent-free, UV-cured coatings, leading to higher utilization of silane in formulating such coatings. As a result, the paints & coatings application segment is expected to experience growth, thereby contributing to market expansion.

Silane’s anti-corrosive properties and versatile mechanical & electrical characteristics make it essential for manufacturing fiberglass used in wind turbine blades and pure silicon for solar photovoltaic cells. The rising demand for clean energy sources has led to increased installations of solar and wind energy capacity worldwide.

For instance, the United States installed 6.62 GW of onshore wind & solar storage capacity in Q1 2022, marking an 11.5% increase from 2020. Similarly, China’s solar installation capacity reached 53 GW in 2021, representing a 10% increase compared to 2020. This surge in renewable energy installations is expected to drive the utilization of silane in the power generation sector for wind turbines and solar cell applications, positively impacting the growth of the silane industry.

Key Takeaways from this Market Report are:

The market in China is expected to expand at a CAGR of 4.7% during the forecast period.
The United States market is expected to be worth over USD 850 million by 2033.
By product type, organo-functional silanes are expected to generate sales with a CAGR of 5% during the forecast period.

“Growing demand for silanes from adhesive & sealant manufacturers, and paints & coating formulators is expected to drive market growth during the forecast period,” – comments an analyst at FMI.

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The top 22 Players in Silanes Market are:

Key players in the silanes market are proactively engaged in creating and innovating new products with unique attributes to enhance their portfolios and expand their customer base worldwide. Furthermore, some companies are placing a strong emphasis on strengthening their retail networks and establishing well-structured supply chains to efficiently serve their customers.

The key market players involved are:

KCC Corporation
OCI Company Ltd
Dow Inc.
Momentive Performance Materials Inc.
Evonik Industries AG
Wacker Chemie AG
Shin-Etsu Chemical Co. Ltd.
China Bluestar International Chemical Co. Ltd
Dalian Onichem Co. Ltd.
Tokuyama Corporation
Power Chemical Corporation
Nanjing Shuguang Silane Chemical Co. Ltd.
BRB International B.V.
Nanjing Union Silicon Chemical Co. Ltd.
Nanjing Wanda Chemicals Co. Ltd.
Miliken Chemical
Supreme Silicones
Air Liquide Advanced Materials Inc.
Qufu Chenguang Chemical Co. Ltd.
Nitrochemie AG
Gelest Inc.
WD Silicone Co. Ltd.

Some recent developments in the Silanes market are:

In October 2021, Brenntag expanded its distribution agreement with Evonik Industries to cover silane product distribution in 16 eastern European countries, including Poland, Czech Republic, Slovenia, Slovakia, Hungary, Serbia, Romania, and others.
In October 2021, WACKER bought a 60% stake in specialty silane manufacturer SICO Performance Material Co. Ltd.
In January 2021, Momentive Performance Materials acquired Ku Corporation’s (KGC) sales activities in China and its business operations in Korea and the United Kingdom.

More Valuable Insights Available

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

To understand opportunities in the silanes market, the market is segmented on the basis of product type, application, end-use, and region.

Key Segments Profiled in the Silanes Industry:

By Product Type:

Organo Functional Silanes
- Vinyl Silanes
- Amino Silanes
- Epoxy Silanes
- Methacryloxy Silanes
- Styryl Silanes
- Acryloxy Silanes
- Amino Silanes
- Others
Mono/Chloro Silanes
Others

By Application:

Rubber
- Tire Rubbers
  - Polyester
  - Nylon
  - Rayon
  - Others
- Non Tire Rubbers
  - Ethylene-propylene
  - Nitrile Butadiene Rubber
  - Styrene Butadiene Rubber
  - Polybutadiene
  - Natural Rubber
  - Others
Plastics
Nylons
- Polycarbonate
- Polystyrene
- Poly Vinyl Chloride
- Others
Adhesives & Sealants
Fiberglass and Composites
Paint, Ink, and Coatings
Electronics
Mineral and Filler Treatment
Surface Protection
Others

By End-Use:

Building and Construction
Oil & Gas
Electrical and Electronics
Automotive and Aerospace
Medical and Pharmaceuticals
Chemical and Other Industries

By Region:

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

Old Source: Silanes Market to be worth USD 4,043.2 Million by the year 2030 – Comprehensive Research Report by FMI

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Sodium Chloride Market Soars to USD 67.4 Billion by 2033: Key Drivers and Trends Shaping Industry Growth

The sales of sodium chloride are likely to grow at a CAGR of 4.4% during the forecast period. The market is valued at USD 44.4 Billion in 2023 and is anticipated to value at USD 67.4 Billion by 2033.

There is a growing demand for sodium chloride in the chemical sector to develop products such as dyes, paper, plastic, rubber, and detergents to advance market growth. Feedstock chemical is highly used in developing chemical products, which in turn boosts the market. An increase in the adoption of sodium chloride by manufacturing companies is observed to make polyester, cleaning tools, and machinery.

Moreover, the growing adoption of sodium chloride by the food and beverage industry increases the shelf life of food and enhances its quality. The demand for sodium chloride to preserve foods such as meat and cheese is also likely to increase market opportunities during the forecast period.

The manufacturers are growing in the pharmaceutical industry to treat dehydration and excessive sweating and with increasing adoption of sodium chloride. In addition, there is a growing demand for sodium chloride from the healthcare sector to maintain blood pressure and relax patients’ muscles.

End-use Industries Propel the Sodium Chloride Market Growth

An increase in the demand for alkaline products such as chlorine, soda ash and caustic soda is impelling the sodium chloride market growth. There are a few more factors that are expected to bolster the market growth during the forecast period, such as the growing population, emerging industries and disposable income. The rising adoption of sodium chloride in various end-use industries such as water treatment, animal feed, agrochemicals and oil & gas is the key factor contributing towards market expansion.

A Glimpse of Top Countries in the Sodium Chloride Market

The US dominates the global market by recording a CAGR of 3.8% with a valuation of US$ 4.0 Bn during the forecast period. Growing disposable income and rising end-use industries such as chemical and food are advancing the US market size. Additionally, the US market growth is fueled by the increasing adoption of sodium chloride in the chemical sector to increase the production of chemical products.

China is estimated to capture a CAGR of 6.2% with a valuation of US$ 2.9 Bn during the forecast period. Increasing consumption of sodium chlorine for cleaning equipment in the healthcare sector is observed in China. The manufacturers are advancing the food and beverage industry to maintain the shelf life of food and preserve it for a long time in China.

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Key Takeaways:

The sodium chloride market valuation is expected at US$ 67.4 Bn by 2033.
The global market is increasing during the forecast period by witnessing a CAGR rate of 4.4%.
The market in the United States is anticipated to grow at a CAGR of 3.8% through 2033.
The China market is likely to uplift significantly during the forecast period with a CAGR of 6.2%.
The Japanese market is expected to grow at a CAGR of 3.3% over the forecast period.

Who is Winning?

The prominent manufacturers and vendors are increasing the market size by increasing the production of sodium chloride all over the region during the forecast period. In addition, distribution channels, emerging suppliers, and new market entrances are advancing the market opportunities. The adoption of different market strategies and millions of dollars in investment by the market players greatly contribute to boosting the maximum output in the market.

In Jan 2021, the FDA announced legal approval for Aurobindo Pharma to manufacture and distribute 0.9% sodium chloride injection to the US healthcare industry.

Some of the leading companies operating in the market are

Cargill incorporated
Compass Minerals International.
K+S AKTIENGESELLSCHAFT
Wacker Chemie AG
Akzo Nobel N.V.
Tata Chemicals Limited
Südwestdeutsche Salzwerke AG
INEOS GROUP HOLDINGS S.A
Hindustan Ltd
Dampier Salt Limited
Others

Sodium Chloride Market by Category

By Grade:

Agriculture
Food
Industrial
Pharmaceuticals

By Source:

Sea Water and Brine
Solid

By Product Foam:

Liquid
Solid

By End Use:

Agriculture
Chemicals
Deicing
Food & Beverages
Industrial
Leather Industry
Oil & Gas
Pharmaceuticals
Water Treatment

By Region:

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

Read Complete Research: Sodium Chloride Market is estimated to value at US$ 67.4 billion by 2033, registering a CAGR of 4.4% during 2023 to 2033 | Future Market Insights, Inc.

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Unlocking Opportunities: How Key Players are Transforming the Global Precast Concrete Market with Specialty Products

The precast concrete market demand is projected to have a moderate-paced CAGR of 5.7% during the forecast period. The current anticipated valuation of the precast concrete market is USD 134 billion in 2023. The value of the precast concrete market is forecasted to reach a high of USD 234 billion, by the year 2033.

Market participants boosting their capacity and bolstering their distribution network to expand their client base, are significant factors driving the demand for precast concrete. Other factors influencing the market are the rapid industrialization and urbanization of emerging nations, the growing emphasis on creating high-quality infrastructure globally, and the emphasis on green construction initiatives.

The market has expanded as a result of the construction industry’s transition to using cost-effective, environmentally friendly, and contemporary building methods. Therefore, the market is projected to be further boosted by the desire of emerging nations to modernize their current infrastructure.

In a variety of weather situations, precast concrete materials enable effective and affordable construction. These goods are meticulously produced off-site, which raises the level of quality in general. These products have the potential to have a very high span-to-depth ratio, which improves the structure’s ability to carry load and lessens the need for extra columns. As a result, these items are frequently employed in large-scale projects like concert halls and arenas to ensure that no pillars obstruct the audience’s view or experience. Leading business players use technical advancements to create new goods and increase their market share.

Over the course of the projection period, it is also anticipated that an increase in consumer demand and a shift in consumer preference toward high-quality items would provide numerous growth opportunities for new entrants in the market.

With 20% of all global building investments, China is the leading construction market in the world. By 2030, it is anticipated that China will spend almost USD 13 trillion on buildings, which is expected to increase demand for precast concrete in China.

In recent years, the market has been pushed by the need for low-cost residential structures, improved efficiency obtained through precast technologies, and accelerated construction speed using precast technology. Additionally, converting and renovating older structures boosts investment in the construction sector, increasing demand for prefabricated components and favorably influencing the expansion of the precast construction market. Precast concrete is therefore frequently employed to construct similarly designed, cost-effective constructions. It also offers the benefit of planning for upcoming construction projects because the components are simple to rearrange. Building experts are enthusiastically embracing modern construction approaches that offer enhanced performance with a minimal capital expenditure. 3D printing and Building Information Modeling (BIM) are recent technological developments that might present opportunities for the sector under study.

Significant amounts of hazardous gases including nitrogen oxide, sulphur dioxide, and carbon monoxide are produced at cement producing facilities. These gases have been related to a several health issues, including cardiovascular diseases, visual impairment, and asthma. Furthermore, it is anticipated that government rules enacted to limit emissions from cement manufacturing facilities would restrain market growth.

Key Takeaways:

Throughout the projection period, it is expected that the United States is likely to hold a sizeable portion of the global precast concrete market. Key stakeholders work to create very durable precast concrete products in an effort to strengthen the infrastructure of country.
The precast concrete market in China is expected to accelerate significantly throughout the estimated time frame. Key participants, who are concrete plant experts, also provide contemporary plant technology with a focus on China trends.
The structural building components product type is anticipated to lead during the projected period owing to its strong demand from the construction sector.
The infrastructure segment in end use, accounts for a sizeable share, is the most inventive market category for important corporations as there has been an increase in the usage of energy-efficient products and materials.

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Competitive Landscape:

Due to the existence of both foreign and domestic competition, the global precast concrete market is fragmented. In their respective niche markets, several firms hold sizable market shares. Large companies usually place significance on organic developments like product approvals and the acceptance of cutting-edge, environmentally friendly solutions. These factors are expected to prompt the global precast concrete market size rapidly.

Key Players:

Boral Limited
Lafarge
Gulf Precast Concrete Co. LLC
Olson Precast Company
CEMEX S.A.B. de C.V.
Forterra
Tindall Corporation
Spancrete
ELO Beton
GÜlermak A.S.
STECS
LAING O’Rourke
Larsen & Toubro Ltd.

Key Segments of the Precast Concrete Market

By Product Type:

Structural Building Components
Architectural Building Components
Transportation Products
Water & Waste Handling Products
Others

By End Use:

Residential
Non-Residential
Infrastructure

By Region:

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

Old Source: Precast Concrete Market to be worth US$ 172.7 Billion by the year 2030 – Comprehensive Research Report by FMI

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Growing Demand for Magnesium Carbonate Mineral in Pharmaceuticals, Construction, and Agriculture Fuels Market Expansion

Demand for magnesium carbonate minerals will reach USD 386.7 million between 2024 and 2034, as projected by a new Future Market Insights (FMI) study. The magnesium carbonate minerals market is projected to cross a value pool of USD 241.5 million by the end of 2024. The market is witnessing significant disruptions in the supply chains of major regional markets. Uncertainty over capital markets and the impact of the pandemic on the global economy is likely to hit the industry in the short term. Widespread critical applications of magnesium carbonate minerals in construction, personal care, and medicine will aid in the recovery of demand following the end of the pandemic.

“Pharmaceutical, medical, and personal care industries are in fact gaining the momentum as a result of COVID-19 pandemic. This would result in multiple changes over the coming years, and the market will witness demand growth,” says the FMI Analyst.

Magnesium Carbonate Mineral Market – Key Takeaways

Pharmaceutical and personal care applications will witness a surge driven by the rising demand for OTC drugs.
The demand for hydromagnesite is anticipated to boom for polymers and flame-retardant formulations as an additive.
Cement and steel industries will be major magnesium carbonate mineral consumers, with magnesium oxide applications.
East Asia will be a prominent regional market in terms of production operations. However, North America and Europe will hold leading positions in the global market share, on the basis of consumption.

Magnesium Carbonate Mineral Market – Key Driving Factors

The rapid and continued growth of chemical industries, and the demand from paper, and paints industries are major growth drivers.
The surge of demand from private players in the medical sector for generic products remains a major growth influencer.
Refractory applications for ceramic and metallurgy industries are also supporting overall market growth.
Strict regulations associated with industrial workplace conditions are also a driver for global market growth.

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Magnesium Carbonate Mineral Market – Key Constraints

Excess consumption of magnesium carbonate minerals can result in side effects such as flatulence and diarrhea, limiting adoption rates.
Rising competition from alternative materials such as talc and dolomite is restricting sales and revenue.

Competition Landscape

Key players in the magnesium carbonate mineral market are Kyowa Chemical Industry Co. Ltd., Konoshima Chemical Co. Ltd., Hebei Meishen Technology Co. Ltd., and Naikai Salt Industries Co. Ltd. Majority of these players are investing in expanding their market presence with acquisitions. Expansion of production capacities and investments in research and development are also key strategies being followed by market players.

More About the Report

The FMI’s market research report of 300 pages offers comprehensive insights into the magnesium carbonate mineral market. The market is analyzed on the basis of mineral form (magnesite, hydromagnesite, and nesquehonite) and end use (pharmaceutical and personal care, refractory bricks and kilns, steel and metallurgy, ceramics, building and flooring materials, chemicals, and others).

Magnesium Carbonate Minerals Market by Category

By Mineral:

Magnesite
Hydromagnesite
Nesquehonite

By End-use:

Pharmaceuticals & Personal Care
Refractory Bricks & Kilns
Steel & Metallurgy
Ceramics
Building & Flooring Materials
Chemicals
- Plastics
- Fertilizers
- Flame Retardant Additives
- Adhesives & Sealants
- Paints
- High Purity Magnesia

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
MEA

Read Complete Research: Global Magnesium Carbonate Mineral Market to Reach USD 386.7 Million by 2034, Driven by Demand in Pharmaceutical, Chemical, and Construction Sectors | Future Market Insights, Inc.

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Rising Demand for Thionyl Chloride in Pesticides and Dyes Fuels Market Growth to USD 829.9 million by 2034

According to the latest report by FMI, the thionyl chloride industry size is projected to be worth USD 518.7 million in 2024 and USD 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term.

However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is characterized by a strong foothold of thionyl chloride manufacturers. The government has enacted large-scale lockdowns, resulting in short-term manufacturing and logistics paralysis.

“Thionyl chloride plays a vital role in manufacturing pharmaceuticals products. The compound is an industrially-produced liquid used to make acyl chlorides and synthesize pharmaceuticals, including drugs and vitamins. Growth of the pharmaceutical industry has a significant impact on the thionyl chloride market.”

Key Takeaways of Thionyl Chloride Market Study

Consumption of thionyl chloride would remain prominent in manufacturing pharmaceuticals. Thionyl chloride is used in the production of a wide range of pharmaceutical products, including isocarbophos, indomethacin, vitamin A, sumicidin, propargite, and tetramisole hydrochloride. Further, manufacturers are targeting the agrochemical industry for relevant returns.
Europe holds a prominent share in the global thionyl chloride market; East Asia would reflect worthwhile prospects, owing to the presence of key agrarian countries and subsequent advancements in the pharmaceutical industry.
Thionyl chloride is also used in the production of lithium thionyl chloride batteries. The adoption of lithium thionyl batteries is increasing, given its benefits such as high voltage, high safety, wide temperature range, low currents, passivation of battery, and its bobbin-like structure.

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Market Landscape: Fairly Consolidated

The global thionyl chloride market is fairly consolidated, owing to a limited number of players operating in the market. The top nine players account for around half of the total market revenue.

The list of Key Players Covered in the Thionyl Chloride Market are:

Lanxess AG
Transpek Industries Ltd.
CABB Group
Sigma Aldrich Co. LLC
Shandong Kaisheng New Materials Co. Ltd.
Angene International Limited
Aurora Fine Chemicals LLC
Jiangxi Selon Industrial Co. Ltd.
Merck KGaA
Hangzhou Trylead Chemical Technology
Bodal Chemicals Limited

Thionyl Chloride Market Taxonomy

By Grade:

Technical Grade
Pharmaceutical Grade

By Application:

Agrochemicals
Pharmaceuticals
Dyes & Pigments
Organic Synthesis
Batteries
Others

By Production Process:

Sulfur trioxide Route
Sulfur dioxide Route
Other Routes

By Region:

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

What Does the Future Hold?

The global thionyl chloride market is expected to grow at a moderate pace over the forecast period on account of increasing application in pharmaceuticals and agrochemicals industries in developing regions. Moreover, increasing the use of thionyl chloride in the production of batteries is expected to fuel the growth of the market. Preference for thionyl chloride over other reagents is further anticipated to bolster the market in the foreseeable future. Production of thionyl chloride is preferred by the sulfur trioxide route, and the trend is projected to continue during the forecast period.

Old Source: Thionyl Chloride Market to Reach USD 688 Million by 2030 | Thionyl Chloride Industry Competitive Dynamics & Global Outlook

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Rising Demand for Antimicrobial Car Care Products: Protect Your Vehicle Amid Global Health Concerns

A new Future Market Insights (FMI) study suggests that the global antimicrobial car care products industry share is set to expand at a robust CAGR of 7.3% during the forecast period of 2022 to 2030. The rising prevalence of antimicrobial and antiviral cleaning solutions coupled with the adoption of advanced technologies in car care products are projected to shape the growth of the antimicrobial car care products market.

The ongoing COVID-19 pandemic is anticipated to have a significant impact on the demand-side trend of antimicrobial car care products in the near future. The pandemic has highlighted the importance of maintaining hygienic and sanitized environments to stay protected from deadly viral infections. This elevated awareness will boost the usage of antimicrobial car care products over the following decade.

Onset of COVID-19 pandemic is anticipated to play a significant role in driving the need for sanitizing and cleaning solution in residential and commercial spaces as well as in public and private commute. The escalated sense of prevention of infectious diseases will steer the adoption of antimicrobial car care products.

Key Takeaways from Antimicrobial Car Care Products Market Study

Awareness among consumers regarding health and hygiene due to increasing cases of nosocomial infections and outbreaks of life-threatening diseases is projected to propel the demand for antimicrobial car care products through 2030.
Advancements in car care technologies along with innovations such as bio-based, and anti-infectious cleaning solutions are likely to maintain the positive trend of the market.
Widespread adoption, easy availability, low cost, and product awareness of fabric and surface cleaners make them the most sought-after product type.
The expanding passenger car fleet continues to attract significant attention from stakeholders.
The strong foothold of the automotive industry as well as the history of epidemics in the region are driving the antimicrobial car care products market in East Asia.

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Antimicrobial Car Care Products Market: Participant Insights

Key manufacturers in the antimicrobial car care products market, like Biocote Ltd, 3M Company, Microban International, Sanitized AG, and Biopledge LLC are focused on strengthening their product portfolio and expanding their manufacturing capabilities to keep up with increasing demand in the market.

Key Companies Profiled

Biocote Ltd.
3M Company
Microban International
Sanitized AG
Clean Control Corporation
Adam’s Polishes
GardGroup Inc.
Ziebart International Corporation
Biopledge LLC
Dow Chemical Company
Clariant AG, Addmaster (UK) Ltd.
Clorox Professional Products Company

Antimicrobial Car Care Products Market by CategoryBy Type:

Fabric & Surface Cleaners
Foam Cleaners
Coating Shield

By Vehicle Type:

Passenger Cars
Commercial Cars

By Sales Channel:

Online
Offline

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
MEA

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Surge in Colloidal Silica Solutions: Driving Growth in CMP Slurries for Electronics and Semiconductor Industries

The global colloidal silica industry demand was valued at USD 252.0 Million in 2022 and is projected to expand at a CAGR of 3.9% during the forecast period (2022-2030).

Colloidal silica is finding immense use in the electronics & semiconductor industry, wherein, it plays a critical role in the production of ultra-flat, uniform, and low-detection surfaces for semiconductors.

Moreover, colloidal silica is used as a rough surface remover and as a polishing additive. It is extensively used for electropolishing to remove microscopic layers of metal particles from surfaces.

In addition, the growing electronics & semiconductor industry in South and East Asia is expected to drive the colloidal silica market over the decade ahead. Paints & coatings and paper & pulp industries are also expected to pave the way for market growth in the coming years.

A significant portion of the revenue of the colloidal silica market is realized from the electronics & semiconductors industry. However, this industry is likely to witness a decline in the near term due to the coronavirus (COVID-19) pandemic that is spreading across the world. The onset of the pandemic has resulted in travel bans and isolations, uncertainties in the stock market, and massive disruption of the supply chain. As such, the pandemic would adversely impact the global electronics & semiconductor industry, and, in turn, hamper the growth of the global colloidal silica market.

“Colloidal silica is gaining prominence as a chemical excipient in the pharmaceutical sector for synthesizing tablets such as paracetamol and animal medicines. Players in the colloidal silica market targeting pharmaceutical applications will be better placed for outsized returns.”

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Key Takeaways from Global Colloidal Silica Market Study

Acidic colloidal silica would remain sought-after, owing to its increasing application in electronics and semiconductors.
In terms of consumption, Europe and North America are prominent regions; countries such as Belgium, the US, the Netherlands, Spain, Germany, France, and Italy are prime consumers of colloidal silica.
The electronics & semiconductor industry would be the key revenue generator in the colloidal silica market, while the paints & coatings industry is offering growth avenues.
Top-line growth of the global chemical industry is expected to augur well for the colloidal silica market.
Colloidal silica is extensively used for investment casting as a slurry on base coatings such as zircon flour, and zircon sand, thus, offering further impetus to market growth over the coming years.

Competitive Landscape

Players such have invested strategically in the colloidal silica market in the recent past, suggesting that, major manufacturers are keeping tabs on the market, as it holds a lot of potential in the coming years. In addition, manufacturers such as Nouryon Holding BV and Evonik Industries AG are strategically increasing their market footprint by expanding their customer base in other regions. R&D, coupled with the expansion of production capacity and footprint, remains the differentiating strategy followed by colloidal silica manufacturers to enhance productivity and capture new market opportunities.

Key Companies Profiled

Akzo Nobel N.V (Nouryon Holding BV)
Merck KGaA
ADEKA Corporation
Allied High Tech Products, Inc.
Nissan Chemical Corporation
The Dow Chemical Company
Cabot Corporation
Evonik Industries AG
Fuso Chemical Co., Ltd.
W. R. Grace & Co.-Conn
NYACOL Nano Technologies Inc.
REMET, Ecolab Inc.
Chemiewerk Bad Köstritz GmbH
Guangdong Well-Silicasol Co., Ltd.
Qingdao Haiyang Chemical Co., Ltd.
Jinan Yinfeng Silicon Products Co., Ltd.
Sterling Chemicals
Makall Group

East Asia to Offer Lucrative Growth Opportunities

East Asia is anticipated to hold a prominent share in the global colloidal silica market, owing to flourishing electronics and semiconductor industries in the region. Manufacturers are focusing on developing products as per end-use applications. Colloidal silica is also significantly used in the production of water-based coatings. Manufactures are thus tapping this opportunity, given increasing preference to water-based solvents in the paints & coatings industry.

Looking for More Information?

The report on the colloidal silica market, published by Future Market Insights, brings to the fore a pin-point analysis of the market, and offers comprehensive information with historical demand data of 2015-2021 and forecast statistics for 2022-2030. The study offers insightful information on the global colloidal silica market based on various categories – product type and application, across seven regions. This study highlights key players who are well-known market vendors, and have proven themselves as key shareholders in the global colloidal silica market.

Colloidal Silica Market by Category

By Product Type:

Alkaline Colloidal Silica
Acidic Colloidal Silica
Modified Colloidal Silica
Ordinary Colloidal Silica

By Application:

Pulp & Paper
Metals & Metallurgy
Electronics & Semiconductors
Chemicals
Paints & Coatings
Building & Construction
Textiles & Fabrics

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
MEA

Old Source: Evaluating the COVID-19 Impact: Demand for Colloidal Silica Slips as Global Manufacturing Activities Come to a Sudden Halt – Future market Insights

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Chlorine Disinfectant Market Forecast: USD 5145.8 million by 2034 as Demand Soars for Sanitation in Healthcare and Public Facilities

The global chlorine disinfectant industry demand is anticipated to reach USD 3159.1 million in 2024. The sector is projected to grow at a CAGR of 5% during the forecast period. In line with this, global sales of chlorine disinfectants are set to soar promisingly in the near term, as projected by a new Future Market Insights (FMI) study. Heightening concerns regarding the novel coronavirus (COVID-19) pandemic are triggering the need to maintain hygiene in healthcare and residential facilities.

The survival period of SARS-COV-2 – a virus that causes COVID-19 – on inanimate objects differs with various factors including, temperature, and humidity. This accentuates the need for frequent cleaning and disinfection of surfaces, thereby, enabling broader usage of chlorine disinfectants.

Key Takeaways of Chlorine Disinfectant Market Study

Increasing emphasis on cleanliness in hospitals is boosting the demand for chlorine disinfectants in hospital applications. Infections are a significant threat in hospitals and chlorine-based cleaners disinfect work surfaces and equipment, thereby, preventing the spread of contagious diseases.
Chlorine disinfectants are gaining significant traction in industrial wastewater treatment applications. Chlorine can be used in wastewater disinfection either as elemental chlorine (gas) or as a chlorinated compound such as liquid sodium hypochlorite solution or solid calcium hypochlorite. Chlorine disinfectants play a vital role in the industrial wastewater treatment process.
Textile bleaching is anticipated to emerge as a significant application of chlorine disinfectants during the forecast period, owing to their superior bleaching properties as liquid chlorine bleaches are highly effective at whitening fabrics and also provide germicidal activity at usage concentrations.
The chlorine disinfectant market in South Asia including, India, and ASEAN countries has been witnessing notable growth recently, attributable to the growth of end-use industries such as healthcare, and water treatment in this region.

Governments in several regions are highly focused on improving municipal water facilities in urban and rural areas. Such developments for industrial and domestic/ municipal water treatment are expected to create high demand for water & wastewater treatment chemicals such as chlorine disinfectants over the forecast period.

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Market Landscape: Moderately Fragmented

The global chlorine disinfectant market is moderately fragmented, owing to the presence of several international and domestic payers in the market. Top ten established players account for over a third of the total supply. Key players such as 3M Company, Procter and Gamble, Reckitt Benckiser, Clorox Company, Ecolab, Hind Pharma, Chemtex Speciality Ltd, Nyco Products Company, Delux Chemicals, Achlor Chemical Ltd., and others are also focusing on increasing their presence in the domestic market. Leading manufacturers are laying emphasis on strengthening their partnerships with end users.

Learn More About the Report Coverage

Future Market Insights has published a market research report on the Chlorine Disinfectant market that contains a global industry analysis of 2018 to 2023 and opportunity assessment for 2024 to 2034. The report provides an insightful analysis of the Chlorine Disinfectant market through four different segments- grade, application, end-use, and region. The Chlorine Disinfectant market report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, along a detailed overview of the parent market.

Chlorine Disinfectant Market by Category

By Form:

Solid/Granular
Liquid
Gas

By Application:

Drinking Water
Swimming Pool Water
Industrial Wastewater
Textile Bleaching
Hospital
Others

By Region:

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

What Does the Future Hold?

The global Chlorine Disinfectant market is anticipated to grow at a moderate rate over the forecast period on account of its increasing demand in water treatment industry in emerging countries. Furthermore, increasing awareness regarding the cleanliness especially in hospitals where Infections are a significant threat in both developed and emerging countries is further expected to propel market growth.

Read Complete Research: Chlorine Disinfectant Sales Set to Total USD 5145.8 Million by 2034 Amid Rising Demand for Reliable Solutions for Wastewater Treatment | Future Market Insights, Inc.

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