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The naphtha market is a vital sector within the petrochemical industry that plays a significant role in the production of various chemical products. Naphtha is a flammable liquid hydrocarbon mixture obtained from the distillation of petroleum or natural gas condensates. In this 500-word essay, we will explore the key characteristics of the naphtha market, major players, and recent trends.
Naphtha is a versatile feedstock used in the production of a wide range of chemical products, including petrochemicals, plastics, solvents, and fuels. It serves as a key raw material for processes such as steam cracking and reforming, which are essential for the production of ethylene, propylene, benzene, toluene, and xylene, among others. These chemicals serve as building blocks for various industries, including automotive, construction, packaging, and consumer goods.
The naphtha market is driven by several factors, including the demand for petrochemical products, economic growth, and fluctuations in crude oil prices. The increasing consumption of plastics, fibers, and synthetic materials in various industries fuels the demand for naphtha as a feedstock for petrochemical production. Economic growth in emerging markets, particularly in Asia, drives the demand for naphtha-based products for infrastructure development, automotive manufacturing, and consumer goods.
Major players in the naphtha market include oil and gas companies, petrochemical manufacturers, and refineries. These companies play a crucial role in the production, processing, and distribution of naphtha. They have extensive refining capabilities and invest in infrastructure and technology to ensure a stable supply of naphtha to meet market demands.
Recent trends in the naphtha market reflect the industry's response to changing market dynamics and regulatory requirements. One significant trend is the shift towards lighter naphtha fractions. Light naphtha contains higher amounts of light hydrocarbons such as ethane and propane, which are in high demand for petrochemical production. With the growing emphasis on ethylene and propylene production, refineries are optimizing their operations to maximize the yield of lighter naphtha fractions.
Another trend is the integration of petrochemical facilities with refineries to enhance cost-efficiency and supply chain optimization. Integrated refining and petrochemical complexes allow for direct feedstock supply to petrochemical units, reducing transportation costs and improving overall operational efficiency. This integration trend has been particularly prominent in regions like the Middle East and Asia, where large-scale refinery-petrochemical complexes have been developed.
Furthermore, the naphtha market is witnessing an increasing focus on sustainability and the development of alternative feedstocks. As environmental concerns and the need for carbon reduction become more prominent, there is growing interest in exploring alternative feedstocks, such as biomass and renewable resources, for petrochemical production. This trend aims to reduce reliance on fossil fuels and mitigate the environmental impact of naphtha-based processes.
Looking ahead, the naphtha market is expected to experience steady growth driven by factors such as population growth, urbanization, and the increasing demand for petrochemical products. The ongoing development of infrastructure, automotive manufacturing, and consumer goods in emerging markets will drive the demand for naphtha-based products. Additionally, the industry's focus on sustainability and the development of alternative feedstocks will continue to shape the future of the naphtha market.
In conclusion, the naphtha market is a crucial component of the petrochemical industry, serving as a key feedstock for the production of various chemical products. Major players in the market are continually optimizing their operations to meet the growing demand for petrochemicals and exploring sustainable alternatives. As the demand for petrochemical products continues to rise, the naphtha market will remain a vital sector within the global chemical industry.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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The inorganic salts market is a thriving sector within the chemical industry that encompasses a wide range of salts composed of inorganic compounds. Inorganic salts are chemical compounds that consist of ions held together by ionic bonds and do not contain carbon atoms. In this 500-word essay, we will explore the key characteristics of the inorganic salts market, major players, and recent trends.
Inorganic salts have diverse applications across various industries, including agriculture, chemicals, pharmaceuticals, food and beverages, and water treatment. These salts offer unique properties such as solubility, conductivity, pH regulation, and chemical stability, making them indispensable in many industrial processes and products.
The inorganic salts market is driven by several factors, including population growth, urbanization, increasing industrialization, and technological advancements. The agriculture industry is a significant consumer of inorganic salts, particularly fertilizers that provide essential nutrients to plants. As the global population continues to grow, there is an increasing demand for agricultural products, driving the demand for inorganic salts as fertilizers.
Major players in the inorganic salts market include chemical companies, mineral mining and processing companies, and agricultural input manufacturers. These companies extract or synthesize inorganic salts and supply them to various industries. They invest in research and development to develop new salts, improve production processes, and meet the evolving needs of their customers.
Recent trends in the inorganic salts market reflect the industry's response to changing market demands and technological advancements. One significant trend is the growing emphasis on sustainable and environmentally friendly products. Companies are investing in technologies to reduce the environmental impact of salt production, such as optimizing energy consumption, implementing waste management strategies, and minimizing water usage.
Another trend is the increasing use of inorganic salts in energy storage systems, specifically in the field of rechargeable batteries. Inorganic salts, such as lithium salts, are used as electrolytes in lithium-ion batteries, which power various devices, including electric vehicles and portable electronic devices. The growing demand for electric vehicles and renewable energy storage systems has fueled the need for inorganic salts for battery production.
Furthermore, the inorganic salts market is witnessing advancements in the development of specialty salts for specific applications. These specialty salts may have unique properties or enhanced purity levels, making them suitable for specialized industries such as pharmaceuticals and electronics. For example, high-purity salts are used in pharmaceutical formulations, laboratory reagents, and semiconductor manufacturing processes.
Looking ahead, the inorganic salts market is expected to experience steady growth driven by factors such as population growth, urbanization, and the increasing demand for industrial products and materials. Additionally, the focus on sustainability and environmental concerns will drive the development of greener and more eco-friendly salt production processes.
Redmond Clay & Salts Company (Utah, U.S.)
United Salts Corporation (Texas, U.S.)
Eastman Chemical Company (Tennessee, U.S.)
Arkema (Colombes, France)
Solvay (Brussels, Belgium)
Tata Chemicals (Mumbai, India)
GFS Chemicals (Ohio, U.S.)
Otsuka Chemical (Gurugram, India)
In conclusion, the inorganic salts market is a dynamic sector within the chemical industry, providing essential chemical compounds for a wide range of applications. Major players in the market are investing in sustainable production methods and developing specialty salts to meet the evolving needs of their customers. As industries continue to grow and advance, the demand for inorganic salts will remain significant, driving further innovation and development in the market.
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Pretreatment refers to the process of cleaning, rinsing, and drying metal surfaces before the application of coating materials. This process helps to prevent metals from exterior weathering and rusting, thereby offering them durability. Over recent years, the global coating pretreatment market is growing at a rapid pace, witnessing the rising demand across the industries. As a result, coating pretreatment materials perceive a massive demand on the global front.
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Widespread use of these coating materials in major industries such as automotive, construction, aerospace, electronics, and furniture creates colossal market demand. According to Market Research Future (MRFR), the global coating pretreatment market is projected to garner exponential accruals by 2030, registering a noteworthy CAGR throughout the review period (2021-2030). Also, extensive applications of these materials in the oil & gas and shipbuilding & marine industry drive a large share of the market.
Increasing production and sales of automobiles in emerging regions is a major growth driver. In the manufacturing & building of aerospace, aircraft, ships, and automotive pretreatment materials are used to improve appearance & paint adhesion and to offer these carriages corrosion protection. Therefore, the manufacturing of these vehicles consumes a substantial amount of coating pretreatment materials. Furthermore, increasing commercial and residential construction provides a considerable impetus to the growth of the market.
Conversely, price volatility and the demand-supply gap in raw materials needed for the production of coating pretreatment materials are anticipated to impede the growth of the market over the predicted period. Nevertheless, product diversification and technology advances would support market growth throughout the estimated period, providing substantial opportunities to the market players. Moreover, factors such as the increasing per capita disposable income, and changing lifestyles are further expected to propel market growth, increasing the sales of consumer appliances.
Coating Pretreatment Market – Segmentation
The report is segmented into four major dynamics.
By Type : Iron Phosphate, Zinc Phosphate, Chromate, Blast Clean, and others.
By Metal Substrate : Mild Steel, Aluminium, Galvanized Sheets, and others.
By Application : Automotive, Construction, Aerospace, and others.
By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
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Global Coating Pretreatment Market – Regional Analysis
Asia Pacific dominates the global coating pretreatment market size due to the increasing applications of these materials in the marine & shipbuilding industry. Besides, widespread infrastructure development & construction activities resulting from rapid industrialization and urbanization in the region drive a huge share of the market. The growth in the consumer appliances industry is also impacting the regional market growth significantly. China accounts for the largest market for coating pretreatment in the region, followed by Japan and India. The APAC coating pretreatment market is expected to register the highest CAGR throughout the assessment period.
Europe stands second in the global coating pretreatment market, witnessing a huge demand due to the large-scale production and export of automotive parts in the region, especially in Western Europe. Moreover, the growing construction industry in the region is expected to propel market growth in the coming years. Furthermore, the aerospace industry in the region is anticipated to provide a huge impetus to the growth of the European coating pretreatment market.
The coating pretreatment market in North America is projected to demonstrate enormous growth over the review period. Factors such as the vast consumption of these materials in industries such as oil & gas, shipbuilding, marine, energy, transport, and automotive foster the growth of the regional market. Additionally, substantial demand from the automotive and construction industries is predicted to influence the market demand excellently.
Coating Pretreatment Market – Competitive Analysis
Highly competitive, the global coating pretreatment market appears to be fragmented due to the presence of many well-established players. To gain a larger competitive advantage, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, partnership, and product & technology launch. Players also make high investments to expand their distribution network, production capacity, and supply chain in emerging countries. They strive to reduce the cost of their products by adopting cost-effective manufacturing methods.
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Major Players
Players leading the global coating pretreatment market include Kansai Paint Co., Ltd (Japan), PPG Industries, Inc. (US), Chemetall GmbH (Germany), Nippon Paint Co., Ltd (Japan), Axalta Coating Systems, LLC (US), Henkel AG & Co., KGaA (Germany), 3M (US), Akzo Nobel NV (Netherlands), Sherwin-Williams Company (US), BARTON International (US), Abrasives Inc. (US), and Troy Chemical Industries (US), among others.
Industry/ Innovation/ Related News:
February 19, 2019 ---- PPG Industries, Inc. (the US), a leading global supplier of paints, coatings, and specialty materials announced that it's aerospace conversion coating has been qualified to the US Military specifications including MIL-C-81706, Type II, Class 3, Form IV, Method A. PPG's non-chrome aerospace pretreatment coating is the first to be qualified to the specification of US Department of Defense for chemical conversion coatings applied to aluminum.
This qualification of military specification enables all US military branches and subcontractors to purchase the pretreatment. And, it also allows commercial & general aviation aircraft manufacturers, operators, and subcontractors that purchase qualified coatings to order the product.
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Market Overview
Global Plastic Compounding Market is predicted to exceed a valuation of USD 7.62 billion by 2030.
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Market Dynamics
The growing demand for lightweight, fuel-efficient automotive components has opened up new markets for plastic compounding. Government policies to promote the use of lightweight cars in order to reduce carbon emissions are expected to have a significant impact on consumer growth. Plastic has emerged as a viable alternative to glass and metal as a result of compounding techniques. Furthermore, the booming packaging industry is critical to market participants' increased revenue generation. The rise is expected to be fueled by increased substitution for glass, metals, wood, natural rubber, and man-made materials like concrete. The market's rising demand for light and advanced materials is expected to play a key role in evaluating its growth potential over the forecast period. The global plastic compounding market is expected to expand due to the increased use of plastic in large-scale industries such as packaging, electronics, and automotive.
The plastic compounding industry is expected to be tested by the volatility in petrochemical prices, as the raw materials used in plastic compounding are primarily petrochemicals. However, the recent trend in the plastic compound industry of using bio-based and recycled plastic has cemented the mode for advancements and product portfolio innovations.
The COVID-19 crisis is causing major changes in buyer and seller conditions, which is expected to have significant rippling effects on a macro level, especially in markets for packaging and medical applications, which have fared well during the pandemic. Transactions in automobiles and some durable goods, such as appliances, have, on the other hand, shown a sluggish development. In the early days of the pandemic, trends arose, such as automakers pivoting to supplying and producing ventilators. It should also be noted that companies like LyondellBasell saw a rebound in automotive manufacturing in the third quarter of this year, as OEMs resumed assembly lines and produced their vehicle backlogs.
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Segmental Analysis
The plastic compounding market has been segmented into products and applications. Based on the segment, which is products, the market is categorized on the basis of polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, and others. In 2017, the polypropylene segment accounted for 31.07 percent of the global plastic compounding industry. During the assessment period, the segment is expected to grow at a CAGR of 6.5 percent. The segment's growth can be attributed to its increased impact tolerance, as well as its usability, which has fueled demand in the automotive industry.
Plastic compounding materials are widely used in a variety of industries, including automotive, electrical and electronics, and construction. The automobile industry currently holds the largest share of the overall market. In the foreseeable future, this trend is expected to continue. During the forecast era, the segment is expected to grow at a healthy CAGR of 7.53 percent. Plastic is used extensively in the manufacture of automotive components, which is expected to accelerate the segment's development.
Regional Analysis
In 2017, Asia Pacific accounted for 47.6% of the global market and is projected to remain a highly lucrative market over the forecast period. During the forecast era, Asia Pacific is expected to develop at a 6.25 percent CAGR. The expansion is due to an increase in demand from the booming automotive industries. The region's rapidly increasing population is causing emerging markets such as Thailand, India, China, and South Korea to consolidate, creating opportunities for plastic compounding business companies.
Europe will come in second, accounting for 20.8 percent of the global plastic compounding industry. During the forecast period, the market is expected to remain highly profitable, with a CAGR of 5.72 percent. The growth of the packaging industry in the area is critical to increasing demand for plastic compounding. During the review era, Germany was Europe's leading plastic manufacturer. Plastic production in the country is self-sufficient, with an adequate number of plants and production capacity to meet local demand. Furthermore, due to its high quality and wide production base, the country exports Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), and other products to neighboring countries. In addition, the nation recycles a large amount of waste plastic into items like fibers, sheets, and film. With its cutting-edge network of chemical parks, industrial facilities, and unique cluster model, Germany is setting international standards as a key plastic industry located in Europe, allowing industry players to quickly reach all sections of the plastic industry value chain.
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Competitive Analysis
The notable players are SABIC, Borealis, LyondellBasell Industries NV, INEOS, DuPont, Versalis S.p.A (Eni S.p.A), BASF SE, Asahi Kasei Corporation, SO.F.TER S.r.l, Covestro AG, 3M (Dyneon GmbH), Total SA, and LANXESS AG, are some of the leading players in the global plastic compounding market.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
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Website: https://www.marketresearchfuture.com
Market Overview
Global Plastic Compounding Market is predicted to exceed a valuation of USD 7.62 billion by 2030.
Get sample copy of report at: https://www.marketresearchfuture.com/sample_request/4697
Market Dynamics
The growing demand for lightweight, fuel-efficient automotive components has opened up new markets for plastic compounding. Government policies to promote the use of lightweight cars in order to reduce carbon emissions are expected to have a significant impact on consumer growth. Plastic has emerged as a viable alternative to glass and metal as a result of compounding techniques. Furthermore, the booming packaging industry is critical to market participants' increased revenue generation. The rise is expected to be fueled by increased substitution for glass, metals, wood, natural rubber, and man-made materials like concrete. The market's rising demand for light and advanced materials is expected to play a key role in evaluating its growth potential over the forecast period. The global plastic compounding market is expected to expand due to the increased use of plastic in large-scale industries such as packaging, electronics, and automotive.
The plastic compounding industry is expected to be tested by the volatility in petrochemical prices, as the raw materials used in plastic compounding are primarily petrochemicals. However, the recent trend in the plastic compound industry of using bio-based and recycled plastic has cemented the mode for advancements and product portfolio innovations.
The COVID-19 crisis is causing major changes in buyer and seller conditions, which is expected to have significant rippling effects on a macro level, especially in markets for packaging and medical applications, which have fared well during the pandemic. Transactions in automobiles and some durable goods, such as appliances, have, on the other hand, shown a sluggish development. In the early days of the pandemic, trends arose, such as automakers pivoting to supplying and producing ventilators. It should also be noted that companies like LyondellBasell saw a rebound in automotive manufacturing in the third quarter of this year, as OEMs resumed assembly lines and produced their vehicle backlogs.
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Segmental Analysis
The plastic compounding market has been segmented into products and applications. Based on the segment, which is products, the market is categorized on the basis of polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, and others. In 2017, the polypropylene segment accounted for 31.07 percent of the global plastic compounding industry. During the assessment period, the segment is expected to grow at a CAGR of 6.5 percent. The segment's growth can be attributed to its increased impact tolerance, as well as its usability, which has fueled demand in the automotive industry.
Plastic compounding materials are widely used in a variety of industries, including automotive, electrical and electronics, and construction. The automobile industry currently holds the largest share of the overall market. In the foreseeable future, this trend is expected to continue. During the forecast era, the segment is expected to grow at a healthy CAGR of 7.53 percent. Plastic is used extensively in the manufacture of automotive components, which is expected to accelerate the segment's development.
Regional Analysis
In 2017, Asia Pacific accounted for 47.6% of the global market and is projected to remain a highly lucrative market over the forecast period. During the forecast era, Asia Pacific is expected to develop at a 6.25 percent CAGR. The expansion is due to an increase in demand from the booming automotive industries. The region's rapidly increasing population is causing emerging markets such as Thailand, India, China, and South Korea to consolidate, creating opportunities for plastic compounding business companies.
Europe will come in second, accounting for 20.8 percent of the global plastic compounding industry. During the forecast period, the market is expected to remain highly profitable, with a CAGR of 5.72 percent. The growth of the packaging industry in the area is critical to increasing demand for plastic compounding. During the review era, Germany was Europe's leading plastic manufacturer. Plastic production in the country is self-sufficient, with an adequate number of plants and production capacity to meet local demand. Furthermore, due to its high quality and wide production base, the country exports Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), and other products to neighboring countries. In addition, the nation recycles a large amount of waste plastic into items like fibers, sheets, and film. With its cutting-edge network of chemical parks, industrial facilities, and unique cluster model, Germany is setting international standards as a key plastic industry located in Europe, allowing industry players to quickly reach all sections of the plastic industry value chain.
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Competitive Analysis
The notable players are SABIC, Borealis, LyondellBasell Industries NV, INEOS, DuPont, Versalis S.p.A (Eni S.p.A), BASF SE, Asahi Kasei Corporation, SO.F.TER S.r.l, Covestro AG, 3M (Dyneon GmbH), Total SA, and LANXESS AG, are some of the leading players in the global plastic compounding market.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Market Synopsis
The global fluoropolymer films market is likely to expand at a significant CAGR during the forecast period (2021-2030) owing to the growing electrical and electronics industry globally, asserts market Research Future (MRFR). Fluoropolymer films are made of complex base materials offering weather resistance, high chemical resistance, optical properties, low coefficient of friction, dielectric properties, and others. Such properties make it suitable for several end-use industries like aerospace, construction, pharmaceutical, electrical & electronics, automotive, and renewable energy.
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Drivers and Growth Factors Impacting the Market
Fluoropolymer is extensively used in fuel tubes for vehicles, wires, and cables, mold release for microphones, semiconductor tube parts, roofing material, solar cells, photovoltaic module, cap liner, and others. With the rapidly increasing electrical and electronic industry worldwide, the global market for fluoropolymer is likely to expand during the forecast period. Increasing demand for personal devices like smartphones, television, smartwatches, wearable devices, and home appliances is predicted to foster the market growth over the assessment period. Moreover, growing investment in commercial and residential construction activities in the developing economies along with improving living standard of the consumers is propelling the market growth over the years.
On the flip side, industry participants have innovated high-cost technologies which comprise complex manufacturing process. Owing to high cost of raw material, the market is expected to lag behind during the forecast period.
Global Fluoropolymer Films Market: Segmental Analysis
The fluoropolymer films industry has been segmented on the basis of application, type, and region.
By mode of type, the global fluoropolymer films market has been segmented into ethylene tetrafluoroethylene (ETFE), polychlorotrifluoroethylene (PCTFE), perfluoroalkoxy alkane (PFA), fluorinated ethylene propylene (FEP), polyvinylidene difluoride (PVDF), polytetrafluoroethylene (PTFE), and others. Among these, the PTFE segment holds the highest share in the market and is predicted to maintain its dominance during the assessment period due to their application in electrical and electronics, chemical processing, and other end-user industries.
By mode of application, the market has been segmented into renewable energy, pharmaceuticals, automobile, aerospace, electrical & electronics, packaging & specialty films, construction, and others. Among these, the construction segment holds a significant share and is anticipated to maintain its dominance over the forecast period. Fluorine-based organic polymer films are extensively used in construction applications like anti-graffiti coverings, water-repellent architectural fabrics, protection against extreme corrosion, cracking, fading, and others. The product is high in demand due to its characteristics such as weatherability, flame retardancy, thermal stability, etc.
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Regional Insights
Asia Pacific region accounts for the largest share and is anticipated to showcase a significant growth rate during the assessment period. With the increasing industries in the developing countries like Thailand, India, and China along with growing demand for smartphones, home appliances, and laptops, the market is likely to propel in this region. Moreover, increasing production of automobiles in China is fostering the product demand.
North America is a prominent region owing to the surging demand for miniaturized electronics like wireless speakers, smartphones, and others. Moreover, the reviving automotive industry along with growing production of lightweight and fuel-efficient vehicles are likely to propel the market growth.
Europe is predicted to showcase a significant growth rate owing to the surging demand from end-use industries such as electrical & electronics, construction industry, aerospace, automotive, and others.
Industry News
A nanostructured gate dielectric is the most significant obstacle to expanding the use of organic semiconductors for thin-film transistors. Composed of a fluoropolymer layer followed by a nanolaminate made from two metal oxide materials, the structure serves as gate dielectric and protects the organic semiconductor which was previously vulnerable to damage from the ambient environment, even underwater.
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Competitive Analysis
The major players operating the global market are Polyfon Technology Ltd. (U.K.), Textiles Coated International (U.S.), 3M (U.S.), DUNMORE Corporation (U.S.), DowDuPont (U.S.), Honeywell International Inc (U.S.), Chemours Company (U.S.), Evonik Industries (Germany), Saint-Gobain S.A. (France), J.V. Corporation (India), Guarniflon S.p.A. (Italy), Daikin Industries Ltd. (Japan), CHUKOH CHEMICALS INDUSTRIES LTD. (Japan), ASAHI GLASS CO. LTD. (Japan), NITTO DENKO CORPORATION (Japan), and others.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Acrylic Fiber Market Driven by Growing Demand for Household Furnishings
The global acrylic fiber market is expected to exhibit a steady but slow 1.38% CAGR over the forecast period from 2021 to 2030, according to the latest research report from Market Research Future (MRFR). The global acrylic fiber market is expected to rise to a valuation of more than USD 5 billion by 2030. The report presents a detailed analysis of the growth trajectory of the global acrylic fiber market, including a detailed analysis of the global market’s historical growth trajectory. This is used to base projections regarding the market’s growth over the forecast period from 2021 to 2030. The impact of the COVID-19 pandemic on the global acrylic fiber market is also examined in the report.
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Acrylic fibers are widely used in apparels. Acrylic fibers present several advantages to the apparel industry, such as low density, high elasticity, and high electric resistance. Industrial apparel is likely to remain a major end use for the global acrylic fiber market over the forecast period due to the growing demand for effective apparel that protects the wearers from common industrial risks such as fire and electricity. The low density of acrylic fiber also makes it a popular material for apparel, as the apparel obtained from acrylic fiber is lighter than conventional clothing and thus helps enable easy movement for the wearer. The increasing demand for protective industrial apparel that lets the user move freely without restricting their movement is likely to be a major driver for the global acrylic fiber market over the forecast period.
The growing demand for acrylic fiber in household furnishings is also likely to be a major driver for the global acrylic fiber market over the forecast period. The low density and high elasticity of acrylic fiber make it perfect for use in household furnishings, which need to be light and moderately stretchable. The growing residential construction industry and urbanization in developing economies is likely to be a major driver for the global acrylic fiber market over the forecast period. As the number of households in urban areas has increased, the demand for high-class household furnishings that reflect a certain lifestyle has increased. This has been a key driver for the global acrylic fiber market and is likely to remain a vital driver for the market over the forecast period.
On the other hand, fluctuating raw material prices are likely to remain a key restraint on the global acrylic fiber market over the forecast period from 2021 to 2030.
Competitive Analysis:
Leading players in the global acrylic fiber industry include Polymir, Formosa Plastic Group, SINOPEC, Pasupati Acrylon Limited, Indian Acrylics Ltd., Kaltex, Thai Acrylic Fiber Co. Ltd., Jilin Qifeng Chemical Fiber Co. Ltd., Dralon, and Aksa Akrilik Kimya Sanayii AS.
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Segmentation:
The global acrylic fiber market is segmented on the basis of form, blending, end use industry, and region.
By form, the global acrylic fiber market is segmented into staple and filament.
By blending, the global acrylic fiber market is segmented into cotton, wool, and others. The cotton segment holds a dominant share in the global acrylic fiber market and is likely to remain a major segment of the global acrylic fiber market over the forecast period. Wool blending is also an important segment of the global acrylic fiber market and is likely to retain an important share over the forecast period.
By end use, the global acrylic fiber market is segmented into apparel, household furnishing, industrial, and others. The apparel and household furnishing segments dominate the global acrylic fiber market.
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Regional Analysis:
Asia Pacific is likely to be the largest regional market for acrylic fiber over the forecast period. The growing industrial sector in Asia Pacific is likely to remain a major driver for the global acrylic fiber market over the forecast period. The growing urbanization in APAC economies such as China and India is also likely to be a major driver for the global acrylic fiber market.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Market Overview
The Global Peracetic Acid Market is projected to register a healthy CAGR of over 8% during the review period. The prime factor driving the growth of the global peracetic acid market is the extensive use of the product in the food & beverage industry as a sanitizer, disinfectant, sterilant, and bleaching agent.
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Market Segmentation
The global peracetic acid industry has been segmented based on application, end-use industry, and region.
Peracetic acid finds application in sanitizer, disinfectant, sterilant, bleaching agent, oxidizer, biocide, polymerization catalyst, and others Among various applications, the sterilant segment is expected to be the fastest-growing segment due to the increasing adoption of peracetic acid as a sterilization agent in the food & beverage industry. The growth of the segment is attributed to the advantages offered by peracetic acid as a sterilant such as water solubility, no residue after rinsing, and no harmful health or environmental effects.
Bases on end-use industry, the global peracetic acid market has been segmented into food & beverage, water treatment, healthcare, pulp & paper, chemicals, agriculture, and others. Changing lifestyles and increasing working population have surged the demand for processed food, which is expected to drive the demand for peracetic acid. The water treatment segment is projected to register a significant CAGR on account of expanding industrial base in both developed and developing countries.
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Regional Analysis
The regions analyzed under the scope of the study are Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The maximum market share was held by the European market in 2018 on the backdrop of the high demand for peracetic acid in major end-use industries such as healthcare, food & beverage, water treatment, pulp & paper, and others. The high demand for peracetic acid is supported by the advantages of peracetic acid such as high effectiveness at a lower temperature, decomposition to non-toxic by-products, and lower consumption of energy.
Asia-Pacific is projected to be the fastest-growing regional market owing to the increasing demand for the product in the rapidly expanding end-use industries. The expanding agricultural industry in countries such as India, Vietnam, Thailand, and Malaysia is expected to fuel the demand for low concentration (1–15%) peracetic acid as sanitizers, disinfectants, and sterilants.
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Competitive Analysis
Ecolab (US), Hydrite Chemical (US), MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan), Solvay (Belgium), Evonik Industries AG (Germany), Promox (Italy), ACURO ORGANICS LIMITED (India), Jubilant Life Sciences Ltd (India), Aditya Birla Chemicals (India), Belinka Perkemija, d.o.o. (Solvenia), Enviro Tech Chemical Services, Inc (US), and Kemira Oyj (Finland).
Industry News
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Market Overview:
Tungsten, also known as wolframis, is a naturally occurring chemical element. It exists on the Earth combination with other elements in the form of chemical compounds. Wolframite and Scheelite are the important ores of tungsten. Tungsten is primarily used in manufacturing hard metals based on tungsten carbide which is one of the hardest carbides. On account of its hardness it is widely used in manufacturing wear-resistant abrasives and cutting tools and equipment. This application accounts for more than 50% of the industrial consumption of the tungsten. Additionally, the ability of tungsten carbide to resist abrasion it is widely used in making jewelries.
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Based on metal, the Global Tungsten Industry has been segmented into foils, ribbons, wires, rods, tubes, and sheets & strips. Ribbons segment held the largest market share in 2017 on account of significant use in vast industrial applications and in vapor deposition processes. It is widely used in the electronic industry owing to high electrical resistance.
By product, the market is categorized into carbides, tungsten alloys, tungsten mill products, tungsten chemicals, and others. Among them, carbide accounted to the largest share of the market in 2017. This mainly due to vast use of the tungsten in manufacturing hard materials based on tungsten carbide. The product is primarily used in manufacturing the tungsten carbide which is one of the hardest carbides. Due to its hardness, tungsten is widely used in manufacturing wear-resistant abrasives and cutting tools and equipment. This application accounts for more than 50% of the industrial consumption of the tungsten.
On the basis of end-use, the Global Tungsten Market has been categorized into automotive, aerospace & defense, machine tools & equipment, electrical & electronics, chemicals, and others. The automotive sector held the major market share in 2017, which mainly attributed to the surging automotive production on the backdrop of increasing demand for the passenger cars and commercial vehicles in the emerging economies.
Competitive Analysis:
The leading players in the Global Tungsten Market are Xiamen Tungsten Co., Ltd. (China), Buffalo Tungsten Inc. (US), Federal Carbide Company (US), China Minmetals Corporation (China), Global Tungsten & Powders Corporation (US), Wolfram Bergbau-und Hutten AG (Austria), Tungsten Mining NL (Australia), Tejing Tungsten (Vietnam), Japan New Metals Co., Ltd. (Japan), and Saloro (Spain), among others.
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Market Segmentation:
The Global Tungsten Market has been segmented on the basis of form, product, end-use, and region.
Based on form, the Global Tungsten Market has been segregated into foils, ribbons, wires, rods, tubes, and sheets & strips.
By product, the market has been categorized into carbides, tungsten alloys, tungsten mill products, tungsten chemicals, and others.
On the basis of end-us, the market has been divided into automotive, aerospace & defense, machine tools & equipment, electrical & electronics, chemicals, and others.
The Global Tungsten Market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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Regional Analysis:
The Global Tungsten Market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific is anticipated to grow at a high CAGR owing to the rising product demand in the automotive and electronics and electrical industries. North America is expected to witness significant growth during the forest period. This is mainly due to the growing demand for the product in various industrial application such as aerospace and defense.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Iron oxide pigments comprises iron and oxides which can be procured from natural or synthetic sources. They are derived from limonites, hematite, and magnetite. Synthetic iron oxides are produced using reduction of organic compounds from iron, thermal decomposition of iron salts, and precipitation of iron salts. The global iron oxide pigments market report by Market Research Future (MRFR) has been compiled with latest developments, production methods, and factors & restraints for the period of 2022 to 2030 (forecast period).
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Market Scope
The global iron oxide pigments industry is expected to experience a windfall during the forecast period due to the burgeoning building & construction industry. Investments in modern designs of architectural buildings and new risks by construction companies is likely to drive the market demand. Infrastructural projects by nations to beautify their roads to attract tourists and raise profits can bode well for the market. Iron oxide pigments are being used in pavers, asphalt, roof tiles, concrete, and bricks.
The paints & coatings industry is bound to drive the demand for iron oxide pigments owing to applications in automotive, buildings, plastics, and others. It enhances aesthetics and other functional and decorative properties. On the other hand, the personal care & cosmetics industry can trigger the demand for these chemicals due to the large manufacture of soaps, deodorants, creams and lotions, shampoos, and others.
But regulations against the manufacture of synthetic pigments and fluctuating prices of raw materials can hamper market growth.
Segmentation
The global iron oxide pigments market has been segmented by color, type, and end-use industry.
By color, the market has been segmented into red, yellow, black, and others.
By type, the market has been segmented into natural and synthetic.
By end-use industry, the market has been segregated into cosmetics and personal care, construction, paints and coatings, pharmaceuticals, plastics, paper, food & beverage, and others.
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Regional Analysis
The global iron oxide pigments market has been studied with respect to five regions—North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
APAC dominated the market in 2022 and will continue its reign till 2030 owing to the burgeoning construction industry. Large infrastructural projects in Indonesia, India, China, and Thailand can drive the global iron oxide pigments market growth. Initiatives by governments such as the Smart Cities Mission can expedite the rate of construction activities and fuel the demand for iron oxide pigments.
North America is another major region for the global iron oxide pigments market due to massive demand from end-use industries of cosmetics and personal care, packaging, pharmaceuticals, and construction. The large healthcare industry with the large healthcare expenditure to upgrade or modernize the current infrastructure can fuel the market growth.
Europe can contribute to the global iron oxide pigments market growth mainly due to the packaging sector. Rising demand from the packaging industry for enticing customers towards buying foods and beverages can drive market demand. High demand for water coatings in the automotive sector to lower volatile organic compounds emissions can also fuel the market. Meanwhile, Latin America can drive global market growth due to the growing cosmetics & personal care industry in Brazil and Mexico. Finally, the MEA region can spur the global iron oxide pigments market due to rapid industrialization.
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Competitive Outlook
Brenntag Specialties, Inc., Tronox Limited, Venator Materials PLC., Heubach GmbH, Lanxess, Cathay Industries, BASF SE, Huntsman Corporation, Hunan Sanhuan Pigment Co., Ltd., and Applied Minerals Inc. are prominent players of the global iron oxide pigments market. Novel development of products and increased capacity by setting up new production plants are new growth strategies of these players.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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