Market Research Blog – Page 9800 – New Product Development

Industrial Energy Monitoring Market High State Of Affairs, SWOT Analysis, Business Summary and Forecast 2029

This Industrial Energy Monitoring Market Analysis market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape.

Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Industrial Energy Monitoring Analysis market.

Industrial energy monitoring is a process to monitor and identify the consumption of energy that is being utilized in an industrial facility. This monitoring is an important aspect as it serves for enhancement of sustainability of manufacturing facility. Industrial Energy Monitoring also proves effective for increment in overall efficiency and to rectify any anomaly or malfunctioning with the system to obstruct any possible catastrophic failure.

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The Industrial Energy Monitoring collects the data through using IoT sensors, and monitoring meters then the software system analyze the data and provide numerous output results about current status of the machine, current efficiency ratio and energy consumption patterns of the complete system.

Also, through utilization of energy monitoring systems one can easily keep track of availability of machines and performance capabilities of each giving manufacturer a schematic layout about the manufacturing abilities of the current manufacturing facilities.

Industrial Energy Monitoring Market: Dynamics

Robust growth in the manufacturing and industrial sector over the recent years across the globe is anticipated to create a considerable requirement for Industrial Energy Monitoring to keep track of power consumption cycle and efficiency of the complete manufacturing unit. Also due to intense consumption of power and increment in electricity tariffs the need to optimize electricity consumption has gain utmost importance in the manufacturing sector.

Awareness for installation of Industrial Energy Monitoring amongst the end users in order to keep eye on need for timely maintenance, corrective measure after rectifying in unnoticed anomaly has increased the output with reduction in power supply. This phenomenon further proved helpful as it aided for noteworthy cut down in operating cost and enhanced efficiency which is anticipated to procure traction for the market.

Manufacturers in the market are trying to venture into directly B2B contract with the end use industry manufacturer on the receiver end in order to fortify its sales and cement their place in the market. With increasing use of digital technology and consumers reliance on software tech also expected to attract many potential customers towards these products.

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Industrial Energy Monitoring Market: Segmentation

On the basis of end use application industry, Industrial Energy Monitoring Market can be classified as:

Pharmaceuticals manufacturing
Automotive Manufacturing
Paper and pulp manufacturing
Petrochemical and petroleum refining
Dairy processing
Fertilizers and agriculture products manufacturing
Metal Casting and metal refining

On the basis of type of service, Industrial Energy Monitoring Market can be classified as,

Hardware monitoring products
- Analog monitoring meters
- Digital monitoring meters
Software solutions services

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

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Dock Fender Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2032

The business report depicts the present scenario of the worldwide Dock Fender Market in terms of value, production, and consumption. The growth outlook of the Dock Fender Market has been examined on the basis of regions, end-use, and product, with 2019 as the base year and 2019-2029 as the stipulated timeframe.

To understand the market dynamics extensively, the global Dock Fender Market is broken down into important geographical segments – North America (U.S., Canada), Latin America (Mexico, Brazil, Argentina, Chile, Peru), Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordic, Eastern Europe), CIS and Russia, Asia-Pacific (China, India, ASEAN, South Korea), Japan, Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

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The global Dock Fender Market study emphasizes the consumption pattern of the following product type:

Extruded Fender
Moulded Fender
Foam-Filled Fender
Pneumatic and Hydro-pneumatic Fender
Composites Fender

The global Dock Fender Market report encloses the key segments by end use, such as

Naval Ports
Container Ports
Oil and Gas Ports
Cargo Ports

The following players hold a significant share in the global Dock Fender Market:

Marine Fender International, Inc.
Trelleborg AB
Goodyear Tire and Rubber Company
ShibataFenderTeam Group
Qingdao Tiandun Rubber Co. Ltd.
Prosertek Group S.L.
Bridgestone Corporation
Urethane Products Corporation
Others

The global Dock Fender Market presents a thorough evaluation of all the players operating in the Dock Fender Market report as per patented technologies, distribution channels, regional penetration, manufacturing techniques, and revenue. Further, business tactics, acquisition, and product launches associated with the vendors are covered in the Dock Fender Market report.

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The Dock Fender Market research answers important questions, including the following:

Why Dock Fender Market players are focusing on the business expansion in region?
Which regulatory authorities have granted approval to the application of Dock Fender in xx industry?
What are the pros and cons of the Dock Fender on the environment?
Why players are targeting the production of segment?
What are the strategies implemented by emerging players in the global Dock Fender Market?

The Dock Fender Market report serves the readers with the following data:

In-depth analysis of supply-side and demand-side trends.
Direct and indirect impacts of the growth of relevant markets on the Dock Fender Market.
Importance of segment in various regions.
Accurate Y-o-Y growth of the global Dock Fender Market.
Consumption trends among individuals across the globe.

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Caulking Gun Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2032

The global caulking gun market size is expected to reach US$ 7.17 Bn in 2032. Increasing usage of caulking guns in various commercial and residential applications is anticipated to propel the demand for caulking gun during the forecast period.

As per FMI Analysts, the global caulking gun market is estimated to be valued at US$ 4.2 Billion in 2022 and is projected to increase at a CAGR of 5.5% in the forecast period from 2022 to 2032.

The growing demand for advanced ceramics in the healthcare and medical equipment industries is anticipated to continue driving caulking gun market expansion, while transportation, chemical, and defense and military is also likely to play a role.

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Furthermore, customers’ growing inclination for convenience and comfort in the workplace is anticipated to bolster the demand for caulking gun and overall market value.

The availability of numerous types of caulking guns is expected to drive the sales of caulking gun. The high cost of production, on the other hand, acts as a caulking gun market restraint.

Additionally, the development of numerous innovative products with unique material qualities by manufacturers, while limiting their lifetime operational costs, is expected to generate new opportunities for the caulking gun market throughout the forecast period.

The caulking gun market growth is expected to face challenges as a result of the manufacturing and supply chain slowdown caused by COVID-19.

Due to its effectiveness in applying sealants to the essential regions, the caulking gun market outlook has received a lot of traction in the industry.

When sealants are applied manually without the use of a suitable caulking gun, the sealant gets smeared all over the place, causing the entire structure to turn out.

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The demand for caulking gun is anticipated to grow in order to avoid such strange scenarios. As a result of increasing popularity in a variety of applications, the sales of caulking gun is projected to rise

Depending on the choice of customers for simplicity and comfort in the task, the caulking gun market is predicted to rise at a rapid rate. Caulking Gun saves time, which attracts a lot of attention to the product, as a result this factor propels the demand for caulking gun.

Key Segments Profiled in the Caulking gun Industry Survey

By Product Type:

High ratio Caulking Gun
Sausage gun
Dual components gun
Bulk loader guns
Foam Caulking Gun

By Barrel Type:

Closed barrel Caulking Gun
Open barrel Caulking Gun

By Sales channel:

Online
Offline
Distributors
Retailers
Direct company sales

By Operation:

Electric operated Caulking Gun
Manually operated Caulking Gun
Pneumatic Caulking Gun

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

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Industrial Dust Collector Market Current Trends And Future Growth Estimations Outlook To 2032

The industrial dust collector market is expected to record a CAGR of 4.2% during the forecast period 2022-2032, up from US$ 7.8 Billion in the year 2022 to reach a valuation of US$ 11.77 Billion by 2032.

The industrial dust collector market is anticipated to show promising growth prospects in the forecasted period 2022-2032.

Rising concern about health issues due to excess pollution is projected to bolster the sales of the industrial dust collector market over the coming years. Further, rising demand from end-use industries, including pharmaceuticals, food and beverage, chemicals, and others, for operational dust collectors with less noise is expected to drive sales of industrial dust collectors over the forecast period.

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Moreover, rising cognizant for electric powered technology for industrial dust collectors are also expected to fillip the sales of the industrial dust collector market over the slated time period.

Furthermore, the increasing number of small-scale companies specifically for industrial dust collectors in China is creating a competitive environment among competitors for low-cost products. Furthermore, the government has mandated some strict standards and regulations, such as OSHA and EPA.

To adhere to these standards guidelines, extra expenses are added to make a complete kit of industrial dust collectors, which can be a restraint for the dust collector market during the forecast period.

Compact design, lightweight, and energy efficiency are some of the vital trends foreseen in the global industrial dust collector market over the assessment period.

How is the Competitive Landscape in the Industrial Dust Collector Market?

In every industrial facility, industrial dust collector plays a vital role in efficient operation because of their salient operation reliability and efficiency, which can directly impact the profits of the companies. A dust collector is a system used to enhance the quality of air released from industrial and commercial processes by collecting dust and other impurities from air or gas.

Industrial dust collector manufacturers are providing additional features in the industrial dust collector, i.e., stationary and portable technology, in order to the usage of this system according to demand.

Industrial dust collector manufacturers are poised to achieve high proficiency, low maintenance costs, effortlessness, and low-pressure drop in a bid to make a salient position in the global market. Due to growth in the industrial sector across the world, the global industrial dust collector market is expected to grow at a lucrative growth rate over the coming span of years.

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Key Segments Profiled in Industrial Dust Collector Market

By Product Type:

Fabric filters
Fabric Filter Baghouses
Jet Dust Collectors
Inertial Separators
Cyclone Dust Collectors
Multi-Cyclone Dust Collectors
Settling Chambers
Baffle Chambers

By Power Source:

Diesel Powered
Electric Powered

By Technology:

Stationary
Portable

By End User Industry:

Pharmaceuticals
Chemical
Food & Beverage
General Manufacturing
Automotive & Transportation
Mining Industry
Agriculture
Construction

By Sales Channel:

Online
Offline

By Region:

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

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Axial Piston Pumps Market 2022-2032 Research Covers,by Future Market Insights, Inc.

The axial piston pumps market is expected to record a CAGR of 4.2% during the forecast period 2022-2032, up from US$ 1418 Million in the year 2022 to reach a valuation of US$ 2139.7 Million by 2032.

The axial piston pumps market is anticipated to show promising growth prospects in the forecasted period 2022-2032.

The strong influence of technological advancement in the designing and construction of hydraulic pumps and systems combined with gearing process automation to offer better performance is fuelling the growth of the axial piston pump market. Moreover, subsequent growth in the irrigation sector and oil & gas industry and rising concerns about water treatment globally are factors driving the consumption of axial piston pumps globally.

Governments of countries such as the U.S., Canada, China, India, and Africa are continuously focusing on improving access to clean drinking. Moreover, growing investments toward improving wastewater treatment are some of the factors leading to a significant rise in the consumption of axial piston pumps over the forecast period.

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Moreover, hydraulics has become an increasingly important part of modern industrial machinery to provide a more efficient, sustainable, and low-carbon alternative. Among the benefits of hydraulic systems are high power density, precision control, and automation, which in turn will drive the business of axial piston pumps.

Modern hydraulic machines offering these features, along with impressive user benefits, can boost the sales of axial piston pumps at a global level. However, higher maintenance costs and fluctuations in pulsations are factors that can hinder the axial piston pump market growth.

How is the Competitive Landscape in the Axial Piston Pumps Market?

Axial piston pumps are designed to satisfy medium to heavy-duty open circuit applications in machinery, marine, mobile, industrial and other industries.

Owing to the inherent features offered by axial piston pumps, such as reliability, low pulsation & noise levels, numerous control options, and high power-to-weight ratio, axial piston pumps are suitable for construction machines, concrete pumps, and utility vehicles, waste-disposal trucks, and other machines.

Axial piston pumps are primarily used in hydraulic machinery to convert mechanical energy to hydraulic energy.

The global axial piston pump market has numerous small-scale and international manufacturers at the regional level. Few industry players are identified across the value chain of the global axial piston pumps market, which are Bosch Rexroth AG, Kawasaki Heavy Industries, Liebherr, HYDAC International, HAWE Hydraulik SE, Roto Pumps Limited, Danfoss, Hydraquip, Bondioli & Pavesi S.p.A., Voith GmbH & Co. KGaA, Eaton, Hydrosila, DeltaQ Ltd., DOSCO Precision Hydraulics, United Hydraulic Control, Wainbee Lab, Parker-Hannifin Corporation, CNSP, and Oilgear.

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Key Segments Profiled in Axial Piston Pumps Market

By Product Type:

Variable displacement axial piston pumps
Fixed displacement axial piston pumps
Bent axis
In-line (Swash plate)

By Pressure Range:

Below 160 bar
160-400 bar
400-450 bar
More than 450 bar

By Material Used:

Cast iron
Stainless steel
Plastics
Bronze, brass & Others

By End Use Industry:

Automotive & Transportation
Construction
Mining
Agriculture & forestry
Oil & gas industry

By Region:

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

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Reactive Diluents Market Size & Share | Global Industry Report for 2030

Reactive diluents demand reflected sluggish growth in 2020, yet the industry stakeholders are optimistic of its quick recovery, revealed by Future Market Insights (FMI) in a recently published global report.

As reactive diluents are used for improving consistency of paints & coatings and adhesives & sealants, they are in high demand across a multitude of sectors including building & construction, automotive, electronics among others. Future Market Insights (FMI) sees this as chief driver of the reactive diluents market, which is expected to grow at a positive pace between 2020 and 2030.

However, in the first half of 2020 most of these activities remained impeded, resulting into 40% less demand, comparing against the same period last year.

Using reactive diluents results in better performance of various solutions by improving their thermal stability, tensile strength, adhesion, and other physical attributed. Due to their robust compatibility with water-based and solvent paints, the demand for reactive diluents will continue surging through the course of the forecast period.

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A key point to consider here is that using reactive diluent can significantly reduce emission of volatile organic compounds (VOC). This has boosted its applications in line with technological advancements witnessed across diverse industries. Prospects for the market is expected to get more lucrative as industries adopt composites as a replacement for radical materials traditionally used in automotive and construction applications.

Construction activities are expected to soar higher in tandem with population growth witnessed around the world. This will in turn bolster growth prospects for the reactive diluents market. On the downside, the unprecedented COVID-19 outbreak might result in sluggish near-future opportunities for the market.

Nonetheless, backed by relevant research and development investment by chemical giants, the market could soon recover once the crisis passes. Despite this, the foray of competent alternatives could hamper growth prospects of the market. FMI in a recent study presents a holistic overview of the global reactive diluents market, covering various factors enabling growth and those restraining the market.

Some of the key factors highlighted in the report are:

East Asia and South Asia Pacific are expected to demonstrate lucrative growth opportunities for the market. Rising building and construction activities besides expansion of automotive and electronics industries will support growth in countries such as India, China, Japan, and South Korea
Some of the leading companies operating in the market are located across East Asia and South Asia Pacific, making the regions highly attractive markets for reactive diluents
Government support towards construction activities and infrastructural development will aid the overall market expansion. For instance, smart city projects undertaken by various governments will give a big push to the country’s construction sector, subsequently fuelling the demand for reactive diluents

“The rising demand for lightweight materials across industries is underpinning growth of the reactive diluents market. Using reactive diluents in paints and coatings make them corrosion resistant besides strengthening their mechanical resilience. Coupled with this, government rules of curbing VOC emissions will result in the spike in adoption of reactive diluents,” said a lead analyst at FMI.

Who is winning?

Reactive diluents market is a highly competitive one, exhibiting the presence of several companies. Market players are primarily focusing on the expansion of their global footprint and product portfolio to gain competitive advantage.

Future Market Insights profiles some of the leading players operating in the market. These include Huntsman Corporation, Hexion Inc., Aditya Birla Chemicals, Olin Corporation, Sachem, Inc., Arkema Group, ipox chemicals GmbH, Evonik Industries, Atul Ltd., and Adeka Corporation.

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Get Valuable Insights into Reactive Diluents Market

Future Market Insights executive level blueprint of the reactive diluents in its report. It offers refined forecasts pertaining to revenue growth witnessed across various segments. Trends impacting the market’s trajectory across these segments are also studied in detail for the period between 2020 and 2030.

The report studies the global reactive diluents market and segments it in terms of type aliphatic, aromatic, and cycloaliphatic. On the basis of function it bifurcates the market into mono functional and multi-functional. Based on end use the market can be categorized into paints & coatings, adhesives & sealants, composites, flooring, and others (comprising tooling, casting, and encapsulation). Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa

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Bromine Market Is Expected To See a growth of 2.7% | Future Market Insights

According to the latest report by Future Market Insights, the global bromine market is estimated to be worth US$ 2.4 Bn in 2021. With a large share in oil and drilling applications, bromine and its derivatives are seeing high demand growth in the US.

High demand for bromine derivatives and Clear Brine Fluids (CBFs) is seen in the US which is seeing an uptick in drilling and exploration activities for oil.

Despite the ongoing pandemic, players in the bromine market are engaging in smart procurement moves for bromine and its derivatives in order to preserve their margins. Efforts are also being undertaken to secure long-term strategic liaisons by manufacturers with their customers and partners to offtake production and keep plants operational in the interim.

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Key Takeaways of Bromine Market

Flame retardants account for the largest share in the bromine market. Despite stringent regulations banning brominated flame retardants, this segment will showcase strong growth through 2031
Asia Pacific was the largest regional market for Bromine in 2019. Within this region China accounted for 13% bromine production
With high uptake of bromine as a flame retardant in electronics manufacturers are re-shoring to regions within Asia Pacific on back of cost-effective raw materials and cheap labor
High recyclability of hydrogen bromide along with virgin bromine brines is upping the overall production of bromine globally

COVID-19 to Compound Challenges of Refiners

Bromine and in particular, the chemicals industry, will feel the impact of COVID-19 in the near term. The bromine market like other major chemical sectors will continue to face supply chain disruptions owing to outbreaks in various regions.

Regions such as Asia Pacific, North America and Europe which have till now remained key producers of bromine may feel the adversarial effects of the pandemic and prevailing uncertainty in capital markets.

Slackening growth in consumer goods, automotive and the construction sector is also impacting the demand for brominated flame retardants in these end-use industries. Refineries producing bromine are facing significant challenges with facility shutdowns.

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Bromine Market – Competitive Intelligence

The market structure for bromine is highly consolidated with leading stakeholders’ producers accounting for three-fourth of the supply. With technological advancements in bromine and its derivatives as well as collaborative ventures between major players, the market is witnessing high growth in pharmaceuticals, construction, electronics and oil & gas.

Israel Chemicals Ltd, headquartered at Tel Aviv, is one of the leading players in the market manufacturing elemental bromine. With an estimated capacity of 280,000 MT of bromine per year, the company serves diverse sectors such as construction, pharma, energy and automotive. To reduce its overall operating cost the company looks at establishing new pumping stations in locations around the Dead Sea to maintain bromine production. The company also collaborated with Albermarle Corporation to develop a new generation of polymeric flame retardants with reduced emissions
Lanxess AG, headquartered in Germany offers brominated flame retardants which are primarily being used in building insulation. The company recorded a strategic milestone with its acquisition of Chemtura, a US company which has made it one of the most important players in the additive market and has also given it a foothold in urethanes and organometallics divisions

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Want to Know More?

Future Market Insights has published a market research report on the bromine market that contains global industry analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the bromine market through four different segments- product type, source, application, and region. The bromine 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 with a detailed overview of the parent market.

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Polypropylene Market Is Expected to reach US$ 117.51 Bn by 2030

The COVID-19 induced subdued momentum, especially in construction and automotive sectors, is likely to hurt the interests of polypropylene market stakeholders in the short run, opines a new study by Future Market Insights (FMI)

Revising its market forecast to negative 2.1% (volume) for 2020, the ESOMAR-certified market research and consulting firm remains bullish on the long-term prospects of the market.

According to the study, “despite a bearish rally for polypropylene over the last three months, a more positive outlook for oil will pave way for brighter polypropylene settlements in the near term.”

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Polypropylene demand decline has been more pervasive vis-à-vis its other plastic variants in automotive and this will continue till resumption of manufacturing operations. However, high sales of spun-bound and meltblown polypropylene grades in the production of PPE and masks can offset some of the losses, opines FMI’s new study.

“The production of polypropylene requires a substantial amount of capital investment. Re-use and recyclability will not only reduce overall investment cost but also substantially reduce carbon emissions” says an FMI analyst.

Key Takeaways of Global Polypropylene Market Study

Polypropylene, being 20%-25% lighter than conventional plastic variants will witness robust demand in lightweight automotive category in the long run
With crude oil prices moving well below the US$ 30 per barrel, low purchase costs of feedstock such as propylene will offer lifelines to polypropylene manufacturers
Innovations in polypropylene packaging solutions continue to offer material savings to manufacturers up to 60%
Superior Fluid Catalytic Cracking (FCC) additives for optimizing feedstock yields of propylene are set to expand profit pools of refineries thus having a positive impact on overall growth of polypropylene market

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Competitive Landscape of Polypropylene Market

Borealis, one of the key players has been continuously extending support to all its partners in the polypropylene value chain to make the shift to polypropylene solutions that are viable in sustainable packaging.

Both Sabic and BASF have engineered newer processes to recycle polypropylene from a low-value, low-quality plastic to a pre-consumer plastic that can be effectively used in a number of food packaging applications. BASF has also collaborated with Jaguar to convert plastic waste into high-end automotive parts.

SCG has come out with a technology called as SMX that minimizes the utilization of plastic and paves way for applications in film packaging and chemical drums with more impact resistance and perforation.

Lucrative Market Conditions in China and India Make East Asia a Regional Goliath

East Asia’s prominence in the polypropylene market is likely to continue unabated owing to its fast growing automotive and construction sectors.

Another key factor driving growth of polypropylene market in East Asia is the focus of manufacturers on customization of product portfolio as per specific applications. In East Asia, polypropylene is being prominently used in BOPP film, injection moldings, and Raffia/Thermoforming.

With viral epicenters having shifted to countries such as India, demand for polypropylene grades is robust in packaging and medical applications. Production appetite for bottle caps and closures in medical, hygiene and pharmaceutical applications has led to significant improvements in the demand outlook for East Asia

Looking for More Information?

Market report on Polypropylene published by Future Market Insights brings to the fore a pin-point analysis of the market, and offers comprehensive information with historical demand data for 2015-2021 and forecast statistics for 2022-2030. The study offers insightful information on the global Polypropylene market based on various categories–product grade (HP, RCP, ICP and TPO), and application (BOPP Film, Raffia/Thermoforming, Fibres & Filaments, Spun Bond Non-Wovens, Melt Blown Non-Wovens, Injection Moldings, Blow Moldings, Cast & Water Quenched Film, Cast & Water Quenched Film, Pipe & Sheet, and Transparent TPO). This study highlights the key market players, who are well-known market vendors, and have proven themselves as key shareholders in the global polypropylene market. Some of the market players included in the report are BASF SE, SABIC, Exxon Mobil Corporation, Lotte Chemical, LG Chem, Petro China Company Limited, Rongsheng Petrochemical Co., Ltd., Formosa Plastics Corporation, Japan Polypropylene Corporation, and Braskem, among others.

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Sodium Chloride Market Worth US$ 61.71 Bn by 2031 | Future Market Insights

The sodium chloride market is projected to showcase a moderate growth rate of 4.2% CAGR over the forecast period of 2021 – 2031 as per the analysis by Future Market Insights (FMI). The market will be driven by rising demand from various industries including chemicals, food and beverages, oil and gas, industrial, deicing, and water-treatment.

Globally, the chemical industry facilities have been the leading consumers of sodium chloride in recent years. In North America and Europe, de-icing and food & beverage industries have emerged as key end users of sodium chloride.

While the market will grow at a steady rate over the next decade, the novel coronavirus (COVID-19) outbreak has left a detrimental effect. The pandemic is expected to affect consumer spending across various sectors such as food and FMCG.

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Furthermore, industrial salt is economically viable as compared to natural salt, which is further catalyzing the growth of the industrial salt sector. Chlorine is used as a primary source for chlorine and sodium hydroxide production, as it is extensively available and inexpensive.

Growth in the commodity chemicals market is expected to drive the consumption of solid sodium chloride, which in turn is expected to fuel the demand in the coming years. As such, the annual growth rate of the sodium chloride market is slated to decline during 2020-21, but is poised for sharp recovery over the next financial year.

Key Takeaways from Sodium Chloride Market Study

Driven by application across diverse industries, the global sodium chloride market is expected to rise at 4.2% CAGR between 2021 and 2031.
Expansion of the chemicals industry will create growth opportunities for the market. The chemical industry is likely to account for over 30% sales in the market by 2021.
China is a leading market for sodium chloride and is expected to reach a valuation of over US$ 8.4 Bn in 2021, owing to expansion in the chemical industry and rising food applications.
The U.S. will emerge as a key market, accounting for 80% sales in North America. The expansion of food processing sector will drive growth in the U.S.
Germany is a leading market for sodium chloride in Europe. Its valuation is expected to surpass US$ 1.3 Bn in 2021, owing to its role as a production and processing hub in the region.

“Sodium chloride production is anticipated to contract during the COVID-19 pandemic. However increasing production in parts of Europe and APAC is expected to stabilize supply shortages. Moreover, positive growth trends in multiple end-use industries are expected to drive the growth of the market over the coming decade,” says an analyst of Future Market Insights.

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Who is Winning?

The global sodium chloride market has been identified as a significantly fragmented market, with the large international players accounting for a limited share of the overall industry.

Market leaders are focusing on strengthening their product portfolio and expanding their market footprint through the acquisition of small-scale enterprises in the landscape.

Key manufacturers in the sodium chloride market include but are not limited to 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., Dampier Salt Limited, Hindustan Ltd, Aashirwadh, Annapurna, Saboo Sodium Chloro Ltd, Hindustan Salts Ltd, Nirma Ltd., Merck KGah, GHCL Ltd., VM Chemicals, and Anish Chemicals.

Sodium Chloride Market Segmentation by Category

By Grade Type

Agricultural
Food
Industrial
Pharmaceutical

By Source

Sea Water & Brine
Solid

By product Form

Liquid
Solid

By End Use

Agriculture
Chemicals
Deicing
Food & Beverage
Industrial
Leather Industry

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More Valuable Insights

Future Market Insights, a research and consulting firm has published a market research report on the Sodium Chloride market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in-depth analysis of the market through different segments, namely, type, end use, and region. The report also provides supply and demand trends, along with an overview of the parent market.

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Magnesium Carbonate Minerals Market to Hit US$ US$ 1.029 Bn by 2030 | Future Market Insights

Magnesium carbonate minerals are witnessing an upsurge in demand, owing to their application in multiple end-use sectors such as pharmaceuticals & personal care and construction. Magnesium carbonate minerals are used to produce raw materials that serve as refractory materials for steel, metallurgy, and ceramic industries. End users such as the chemical industry also use magnesium carbonate minerals to produce raw materials for plastic, polymers, paints, and fertilizers.

Magnesite, in meagre amounts, is also used as a gem and lapidary material. Moreover, there is an expected revamp in pharmaceutical and personal care industries, owing to the current Covid-19 pandemic, which, in turn, is anticipated to drive the magnesium carbonate minerals market in the near term. Refractory bricks & kilns and building & flooring materials are also paving way for robust sales.

The global magnesium carbonate minerals market is expected to surpass US$ 689.0 Mn in 2022, and is projected to expand at a CAGR of 5.1% over the forecast period (2022-2030).

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Key Takeaways from Global Magnesium Carbonate Minerals Market Study

Surging demand from pharmaceutical and personal care industries is expected to drive the market, owing to its application in the production of OTC drugs.
East Asia is expected to be prominent in terms of production, and North America and Europe will lead in terms of consumption over the decade ahead. Countries such as Belgium, the U.S., the Netherlands, Spain, Germany, France, and Italy are prime consumers of magnesium carbonate minerals.
Unique fire retardant properties of hydromagnesite are enabling its broader adoption as a flame retardant or fire retardant additive for polymers.
Flourishing chemical industries across the world are offering a conducive ground for magnesium carbonate minerals market players. Increasing demand from pulp & paper and paints & coatings industries are also offering white spaces.
Extensive use of magnesium carbonate in the production of magnesium oxide, which is used in the steel and cement industries as a refractory material, will augment market growth. Rapid growth in these industries is estimated to boost the demand for magnesium oxide.

“Countries all over the world are likely to enhance their medical, pharmaceutical, and personal care sectors as a consequence of the ongoing COVID-19 pandemic, which is expected to bring about multiple changes in these sectors. Magnesium carbonate minerals play an important role – directly and indirectly – in the pharmaceutical sector. Thus, over the coming years, the market is expected to witness demand growth.”

Magnesium Carbonate Minerals Market: Competitive Landscape

Players such as Konoshima Chemical Co., Ltd., Naikai Salt Industries Co., Ltd., Hebei Meishen Technology Co., Ltd, and Kyowa Chemical Industry Co. Ltd. have been strategically expanding their market presence through expansions and acquisitions in the recent past. These players are increasing their market presence gradually, rather than deploying aggressive growth strategies. R&D, coupled with expansion of production capacity, remains the key strategy followed by magnesium carbonate mineral manufacturers to enhance productivity and capture potential market opportunities.

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East Asia to Offer Opportunities of Growth and Profitability

East Asia is anticipated to hold a prominent share in the global magnesium carbonate minerals market, owing to the increasing demand from pharmaceutical and personal care industries, along with refractories. Manufacturers in East Asia are facing stiff competition, given the higher concentration of players in the region. Moreover, magnesium carbonate minerals have multiple end uses, hence, the market is likely to flourish in the years ahead. Easy availability of raw materials and cheap labour is poised to propel the magnesium carbonate minerals market in East Asia.

On the flip side, chemical and automotive industries in East Asia are under extreme pressure due to the coronavirus (COVID-19) pandemic. Uncertainty in the global economic order and capital markets is shrinking the profit pools of industrial executives. Chemical and automotive industries in East Asia are undergoing manufacturing standstills in order to avoid workers getting affected by the coronavirus, as well as address the demand drop from businesses and consumers during nationwide lockdowns. These factors are affecting the growth of the magnesium carbonate minerals market.

Looking for More Information?

The report on the magnesium carbonate minerals 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 magnesium carbonate minerals market based on various categories – mineral form and end use, across seven regions. This study highlights key market players who are well-known market vendors, and have proven themselves as key shareholders in the global magnesium carbonate minerals market. Some of the market players included in the report are Nouryon Holding BV, Evonik Industries AG, Cabot Corporation, W. R. Grace & Co., and Ecolab Inc., among others.

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About Future Market Insights (FMI)

Contact:

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