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The global corrosion inhibitors market has been growing continuously over the past few years. Extensive usages of corrosion inhibitors in industries such as power, mining, oil & gas, petrochemicals, paper mills, and environmental protection is a key driving force behind the growth of the market. As a result, corrosion inhibitors garner considerable market prominence and demand throughout the year.
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According to Market Research Future (MRFR), the global corrosion inhibitors market had generated a valuation of USD 7,619.9 MN, in 2021, which would further get appreciated at a CAGR of 4.2% during the review period (2022 – 2030). Also, the increasing demand from the marine & shipbuilding industry alongside, the energy, transport, automotive, and other industries, drives the growth of the market, substantially.
Also, the growing water treatment industry predominantly drives the market demand due to the water scarcity and stringent regulations against wastewater disposal in the industrial sector. Furthermore, the increased use of hydraulic fracturing in the O&G industry has led to increasing the growth of the market, raising the demand for water treatment chemicals.
On the other hand, the adoption of thermoplastics in flow pipelines due to their superior benefits is expected to inhibit the market growth, reducing the demand for corrosion inhibitors. Nevertheless, growing preferences for green corrosion inhibitors led by the stringent regulations against the use of inorganic inhibitors would create lucrative opportunities for the players operating in the global corrosion inhibitors market.
Global Corrosion Inhibitors Market – Segmentation
The report is segmented into four market dynamics to widen the scope of understanding,
By Product : Organic Corrosion Inhibitor and Inorganic Corrosion Inhibitor
By Application : Water-based and Oil/Solvent-based Corrosion Inhibitor
By End-use Industry : Power Generation, Oil & Gas, Chemical Processing, and Metal Processing, among others.
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By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Corrosion Inhibitors Market – Regional Analysis
The Asia Pacific accounts for the largest region in the global corrosion inhibitors industry due to the demand in various applications such as power generation and metal processing industry. The region is witnessing an increasing demand for these materials, especially in India, China, Taiwan, and South Korea. In 2018, the APAC corrosion inhibitors market had accounted for 41.2% of the market share, valuing at USD 3,142.1 MN. The region would grow at a 5.3% CAGR during the review period.
The oil and gas industry in the region is driving the regional market growth, majorly led by the increasing investments in O&G production & extraction activities to meet the rising demand for petroleum products, fuel, and energy. Additionally, the growth in chemical processing industries led by the increased demand for water treatment chemicals would provide impetus to the growth of the regional market.
North America is another lucrative market for corrosion inhibitors. The region is a substantially large production capacity of these materials. The region is expected to register around 3% CAGR during the review period. The US is the largest market in the region, generating about 80.6% of the total revenue in the market. This is attributed to the significant rise in shale gas extraction using hydraulic fracturing technology resulting in an increased need for water.
The corrosion inhibitors market in the European region is a briskly growing market. The growth is attributed to the increasing regulations against wastewater discharge leading to the adoption of reverse osmosis (RO) membranes & other processes to enable plants to reuse and recycle water. Due to rising demand for these materials in various applications such as oil & gas, shipbuilding, marine, energy, transport, automotive, and others, the region is projected to register around 2.7% CAGR during the review period (2022–2030).
Global Corrosion Inhibitors Market – Competitive Analysis
Highly competitive, the corrosion inhibitors market appears to be fragmented characterized by the presence of several large and small-scale players. Although well-established players in the market have tremendous geographical proximity, the entry of several new companies poses a fierce competition for them. In such a scenario, these players would incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch to maintain their market position.
Major Players
Players leading the global corrosion inhibitors market include Air Products & Chemicals Inc. (US), Cortec Corporation (US), ICL Advanced Additives (US), Ashland (US), Henkel AG & Co. KGaA, (Germany), Ecolab (US), Solvay (Belgium), Akzo Nobel NV (Netherlands), DowDupont (US), Acuro Organics Limited (India), Chemtex Speciality Limited (India), and Ganesh Benzoplast Limited (India), among others.
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Industry/ Innovation/ Related News
September 08, 2022 ---- CIM Investment Mangement Inc. (the US), announced that it has acquired over 801 shares in WD-40 (the US), a specialty chemicals company. These stocks valued at approximately USD 286,000.
February 27, 2022 ---- Lanxess AG (Germany), a specialty Chemicals Company announced the successful completion of capacity expansion for corrosion inhibitor products. The company has completed a challenging project which would result in a 15% increase in production capacity of its corrosion inhibition additives - Additin RC 4000 series. The addition of capacities is a result of process synergies identified following its acquisition of Chemtura Corporation, in 2017, which expanded its lubricant additives portfolio and global production network. With the increased footprint, Lanxess was able to unlock process synergies between its production sites in Germany & Canada, increasing the output of corrosion inhibitors products to meet market demand and further enhance its global production network.
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Market overview
Global Polyols Market 2020 is expected to get evaluated colossally at a modest CAGR during the review period of 2021-2030.
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Market highlights
Increasing energy saving efforts are driving the market for rigid foams with high insulation properties particularly in the building and construction industries. Over the prediction timeframe, this is projected to emerge as a major force shaping the global economy.
Due to rapid industrialization and urbanisation in developed countries and numerous infrastructural growth projects around the world, the increasing building & construction industry is expected to drive high demand for polyurethanes for insulation use. Consequently, the demand for polyols is projected to have a favourable effect over the forecast period. In addition, during the forecast era, the automotive industry is also expected to show an increase in demand for the development of polyurethane insulation applications. In addition, increasing demand for consumer electronics is also expected to contribute to the market growth for insulation and coating applications during the forecast period due to rising purchasing power. In addition, main producers have been exploring bio-based polyols in order to minimise dependency on traditional petrochemical polyols, considering increasing environmental issues and raw material price fluctuations. Polyol manufacturers are now involved in forward integration to manufacture polyurethane, thus greatly lowering transportation costs and long-term procurement issues. Consumers are becoming more aware of the commodity advantages that by incorporating into the manufacturing stage, have enabled suppliers to sustain high-quality prices.
The demand for synthetic polyols, however is expected to face significant challenges during the forecast period with the increasing prevalence of bio-based polyols.
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Market Segmentation
The global polyols industry is segmented by product form, use, sector of end use and area.
The worldwide demand for polyols is segmented into polyether polyols, polyester polyols, and others on the basis of product form.
Based on the use, the global market for polyols is categorised into flexible foams, rigid foams, CASE and others.
The global demand for polyols is segmented into building, automobiles, furniture, consumer electronics, clothing, and others on the basis of the end-user industry.
Regional Overview
The worldwide demand for polyols is split into five regions: Asia-Pacific, North America, Europe, Latin America, Middle East and Africa.
During the projected era, Asia Pacific is anticipated to be the largest and fastest growing market for polyols. Due to the rising economies of countries such as China and India, growing demand for polyurethane from various end-use industries such as the building & construction, automotive, electronics, and furnishing industries is projected to drive the growth of the global polyols market during the forecast period.
During the forecast period, North America and Europe are predicted to exhibit substantial demand for polyols. A major contributor to the growth of these markets is the high adoption of insulation technology to increase the energy efficiency of the building. In addition, during the projected period, the automobile and electronics sectors are both expected to boost business growth.
Due to the rising construction industry, the Middle East & Africa is projected to exhibit increasing demand for polyols during the forecast period due to ongoing infrastructural projects to prosper the tourism industry.
The Latin American market is estimated to show modest growth during the forecast period, mainly due to the rising construction industry. This can be due to the presence, along with development in the building and manufacturing industries, of different automotive OEMs. The region's automotive manufacturers are becoming increasingly competitive and are adopting polyurethane materials to reduce production costs.
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Competitive Dashboard
The major players operating in the global polyols market are Covestro AG (Germany), Stepan Company (U.S.), Royal Dutch Shell PLC (Netherlands), DowDuPont, Inc. (U.S.), Mitsui Chemicals, Inc. (Japan), China National Bluestar (Group) Co, Ltd. (China), BASF SE (Germany), Vertellus Holdings LLC (U.K), INVISTA B.V. (U.S.), Expanded Polymer Systems Pvt. Ltd. (India), N Shashikant & Co. (India), POLYOLS & POLYMERS PVT.LTD. (India), and Coim Group (Italy).
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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 Scope
Market Research Future (MRFR) affirms that the Silicone Oil Market had touched USD 1.83 billion in 2021 and could achieve a growth rate of 4.8% from 2022 to 2030 (analysis period).
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Market Boosters and Barriers
Escalating sales of personal care, cosmetics, and pharmaceutical products are expected to benefit the silicone oil market in the years ahead. Silicone oil is known for its impressive properties that include high viscosity, non-toxicity, and low density, and therefore, note substantial demand in sectors like pharmaceutical, cosmetics & personal care, automotive, healthcare and many more. As a result, the stunning growth of these industries along with the automotive, electronics and chemical sectors will mean significant market growth in the next several years. Other important properties like high water resistance, inertness, significant thermal and electric stability, and the lack of odor could further enhance its appeal among the major end-use sectors.
Soaring concerns with regard to the deteriorating environmental health is another factor that has worked in favor of the silicone oil industry in recent years. Since it is a biodegradable and biocompatible material, the demand should escalate rapidly in the coming years, in line with the growing preference for eco-friendly products worldwide. In the healthcare industry, it acts as a tamponade agent during the treatment of retinal detachment. The tamponade is useful when the retinal traction is not completely released as well as for those patients that are unable to preserve head arranging that is crucial for a gas tamponade within the retina.
Vendors are increasingly emphasizing on technical integration throughout the value chain, which has raised the competition level in the global market. Rising use of modern technologies like drones, robotics, Internet of Things (IOT), artificial intelligence, cloud computing, and blockchain has transformed numerous aspects of the manufacturing process. These technologies have not only bolstered the safety level during manufacturing but also fostered efficiency and reliability, while facilitating accurate monitoring across the supply chain.
Segmental Analysis
Application and end-use industry are the key market segments listed in the MRFR report, to give a better understanding of the growth prospects.
Key applications of silicone oil identified in the market study are thermal bath fluid, damping fluid, dielectric fluid, lubricant, pharmaceuticals, cosmetics products, and more.
Major end-use industries are aerospace & defense, automotive, healthcare, cosmetics, and others.
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Regional Outlook
The silicone oil industry can be split into five major regions, including Asia Pacific (APAC), Europe, North America, MEA or Middle East & Africa and Latin America.
Apart from gaining the leading position, Asia Pacific is also set to chart the fastest growth trajectory between 2022 and 2030. Rising industrialization rate in line with the efforts by the government to bolster the economic status has led to significant growth of sectors like healthcare, cosmetics, and automotive. Moreover, the exploding population and the surging vehicle ownership has fostered the growth of the automotive industry in the region, especially in China, Japan, and India. Besides, growing interest in maintaining hygiene and health among the people can also boost the demand for silicone oil in the years to come.
Europe, with the thriving healthcare and cosmetics industry and an impressive GDP, has successfully procured the second position in the global market. The high living standards in the region has led to higher focus on health, which helps bolster the sales of cosmetic as well as healthcare products. This should favor the silicon oil market in the region over the next few years. Another major end-user in the region is the aerospace & defense sector, generating massive demand for silicone oil. With impressive properties like excellent thermal stability, electric insulators, heat transferring and non-flammable abilities, silicone oil is used largely in radiators and external coolants loops in various space stations in the region.
Significant Companies
The most important manufacturers in the silicon lubricant industry include Aurolab (India), Clearco Products Co., Inc. (US), Momentive (US), Thermo Fisher Scientific Inc. (US), Shin-Etsu Chemical Co. Ltd (Japan), Elkem Silicones (France), CHT UK Bridgwater Ltd (UK), BRB International (Netherlands), D R P Silicone (India), Evonik Industries AG (Germany), China National Bluestar (Group) Co, Ltd (China), Anhui Youcheng Siliconeoil Co., Ltd (China), Siltech Corporation (Canada), Merck KGaA (Germany), Wacker Chemie AG (Germany), to mention a few.
These firms take up extensive research and development initiatives to launch new and more innovative products. They also enter into contractual deals such as mergers and acquisitions, agreements, strategic investments while also striving to boost their production capacities in a bid to capitalize on the business opportunities.
For instance, in January 2021, Momentive Performance Materials Inc. acquired KCC Corp.’s silicone business in the UK and Korea as well as China. This will help Momentive enhance its expertise in advanced silicones and their applications. The acquisition should consolidate both the firms’ combined expertise in various derivatives of silicones such as silicone oil with enhanced applications in telecommunications, healthcare, personal care, electronics, transportation, construction, energy, agriculture, and many more.
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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
Market reports associated with chemical and materials has been presented by Market Research Future, which states that the global spunbond nonwoven market has recorded a higher CAGR for its growth in the forecast period. The market held a high valuation in the past years and is now projected to increase in the coming years.
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In general, the spunbond nonwoven is produced with the process of extruding a thermoplastic fiber polymer into fine filaments fiber. Such filaments are collected on a conveyor belt in the form of web, which is then bonded to make spunbond nonwoven fabric. The spunbond nonwoven fabrics are known for their excellent burst strengths, porosity, stability to heat and chemicals, tear resistance, and tensile strength. These factors have eventually boosted the global spunbond nonwoven market over the forecast period.
Market Drivers & Trends
The global spunbond nonwoven industry is chiefly driven by factors such as rising preference over other fabrics that are low cost and has wide accessibility of binder materials and machines. In recent time, the use of spun bonding is ideal than chemical bonding due to the quality of medium weight nonwovens production. These are permeable, soft, and absorbent in nature, which creates a spell-bounding demand all across the world.
On the other hand, the unique structure of spunbond nonwoven helps the skin to stay dry is expected to drive the global spunbond nonwoven market in medical and hygiene sector. Spunbond nonwoven, having such immense properties, therefore offers exceptional breathability, resistance to fluid penetration, lint-free structure, bacterial impermeability, and is sterilizable, which are broadly useful for manufacturing personal care and hygienic products.
Furthermore, factors such as mounting demand for spunbond nonwoven from various end-use industries such as automotive, construction, agriculture, and others are anticipated to stimulate the global spunbond nonwoven market growth over the assessment period. The significant advantage of using spun bonding technology is that it requires less space as well as is energy-efficient.
The critical developments observed in the market are mainly mergers, expansion, acquisitions, and others. The study gathers the information that in 2017, Mitsui Chemicals announced to produce polypropylene-based spun-bonded nonwoven fabrics at its secondary MHM Company in Thailand from 2018. Moreover, Avgol, one of the leading manufacturers of nonwoven provide solutions for hygiene markets and publicized to start new USD 60 million manufacturing roofs in Dimona, Israel enabling Avgol to offer customers with the most advanced innovations in baby diaper products, adult incontinence, and feminine hygiene. However, on the flip side, factors such as the changing raw material cost and high production cost of finished products such as baby diapers are possible to defy the market growth.
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Market Segmentation
The global spunbond nonwoven market is segmented by the function, method, polymer type, application, and region.
In terms of the function, the global spunbond nonwoven market is bifurcated into disposable and non-disposable.
The global spunbond nonwoven market is segmented by the heating method used into conduction, convection, and radiation.
In terms of the polymer type, the market is segmented into polypropylene, polyester, nylon, polyethylene, polyurethane, and rayons.
In terms of the application, the global spunbond nonwoven market is segmented as medical & personal care, automotive, agriculture, geotextiles, industrial, packaging, and others.
Regional Outlook
The global spunbond nonwoven market is covered across crucial regions, namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific was the foremost region in the global spunbond nonwoven market due to the factor of high demand from major end-use industries such as personal care products, automotive, agriculture, and construction mainly in countries such as Japan, India, China, and others.
North America was positioned at the second largest region in the global spunbond nonwoven market due to the high demand from the healthcare, automotive, personal care, and hygiene industries.
The European market is anticipated to cultivate based on the high product demand from the manufacturing of various automotive parts and the booming healthcare sector in the region. Latin America is also projected to witness a significant growth owing to the emerging automotive and personal care industries in the region.
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Key Players
Some of the key manufacturers effective in the global spunbond nonwoven market are named as PEGAS NONWOVENS Czech s.r.o. (Luxembourg), DuPont (U.S.), Mitsui Chemicals, Inc. (Japan), Asahi Kasei Corporation (Japan), Schouw & Co. (Denmark), TORAY INDUSTRIES, INC. (U.S.), Mogul Co., Ltd. (Turkey), KURARAY CO., LTD. (Japan), Kolon Industries, Inc. (South Korea), Berry Global Inc. (U.S.), Radici Partecipazioni SpA (Italy), KCWW (U.S.), Avgol Ltd. (Israel), Fitesa S.A. (Brazil), and Sunshine Nonwoven Fabric Co., Ltd. (China).
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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 Scope
Market Research Future (MRFR) expects the ultra-thin glass market to attain a decent CAGR of 11.88% between 2021 and 2028 (analysis period).
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Major Drivers and Main Challenges
Automotive manufacturers are primarily focused on reducing the overall weight of automobiles as it helps elevate the fuel efficiency. Glass, being an essential material in automobiles, can facilitate the vehicle weight reduction trend. To meet with the mounting requirements, manufacturers are introducing unique products and materials with multiple applications within the automobile industry. This has shed light on ultra-thin glass’s importance in the automotive industry and has resulted in extensive demand. The stunning growth of the semiconductor industry in recent years has also intensified the product demand. In addition, the vast adoption of advanced technologies such as 5G and IoT in the manufacturing processes can also benefit the ultra-thin glass industry over the following years.
A few socioeconomic factors such as escalating disposable income and heightened consumption of consumer electronic goods also work in favor of the worldwide market. Notable economic growth and the drop in the costs of electronic products as well as components, especially in developing countries will also bolster the demand for ultra-thin glass. The significant popularity of touch control devices should present opportunities to ultra-thin glass manufacturers, while the soaring prevalence of wearable technologies and smart homes, smart car, refrigerators, should be favorable as well.
Market Segmentation
Manufacturing process, thickness, application, and end-use industry are the major segments outlined in the MRFR market study.
The manufacturing processes considered are down-draw, fusion, and float. The float segment is in the lead and captured a valuation of USD 3627.5 million in the year 2017. The segment could continue to grow at a rate of around 13.03% from 2021 to 2028, since ultra-thin float glass is widely deployed in a variety of automotive and architectural windshield applications. Second position has been secured by the fusion manufacturing process segment, which is touted to attain an approximate growth rate of 11.58% in the years to come.
Thickness-based segments are < 0.1 mm, 0.1–0.5 mm, 0.5–1.0 mm, 1.0–1.5 mm, and 1.5–2.0 mm.
Key applications of ultra-thin glass are semiconductors, lightweight assemblies, solar mirrors, automotive glazing, touch panel display, medical devices, fingerprint display, and others. The touch panel display segment is at the top and can touch USD 6378.2 million by 2028. The semiconductors segment will manage to achieve the fastest CAGR given its impressive dielectric, electrical conductivity, and electrical insulation properties.
Major end-use industries include automotive, electrical and electronics, building and construction, biotechnology, renewable energy, and more. The electrical and electronics segment is the top end-user in the global market and seized the highest share of 48% in the year 2017. The segment could also grab a healthy CAGR of 12.33%, on account of the amplified demand for several electronic devices in use-cases including home appliances, vehicles, and medical devices. On the other hand, the fastest growing segment will be the automotive end-use industry, which could also reach USD 4553.7 million by 2028, due to the mounting need for fuel-efficient vehicles worldwide.
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Conductive Inks Market Key Regions
North America, APAC/Asia Pacific, along with Europe and RoW/Rest of the World are the key regions where the ultra-thin glass industry is projected to expand at varying rates between 2021 and 2028.
The APAC market for ultra-thin glass is of the biggest size, as reported in 2017. It is presumed that the market size in the region will continue to soar at an approximate rate of 12.57% during the appraisal period, in view of the rampant demand for various consumer electronics such as smart watches, smartphones and home appliances. The burgeoning consumer electronics industry in the region, especially in China is the result of the rise in disposable incomes of the consumers and the general economic growth. Global players shifting from developed nations to Asia Pacific, due to the abundance of lower priced raw materials along with cheap labor will further enhance the market share of ultra-thin glass. The APAC market is further bolstered by reputed manufacturers such as AGC Inc. and Nippon Sheet Glass present across the region.
In 2017, North America took the second lead and managed to clock in USD 1527.4 million. It is anticipated the market size in North America will record a CAGR of close to 11.48% during the evaluation period. Intense growth of the e-commerce industry has benefitted the ultra-thin glass market to a large extent, parallel to the surging orders for several consumer goods as well as electronic devices. The well-established transportation and automotive industry also elevates the demand for ultra-thin glass, with applications in automotive displays and interiors.
Affluent Market Firms
SCOTT AG, Nippon Electric Glass Co. Ltd., Taiwan Glass Ind. Corp., Nitto Boseki Co., Ltd., Corning Incorporated, Emerge Glass, Central Glass Co., Ltd., Luoyang Glass Co. Ltd., Xinyi Glass Holdings Limited, Aeon Industries Corporation Ltd., Asahi Glass Co., Ltd., Changzhou Almaden Co. Ltd., Runtai Industry Co. Ltd., CSG Holding Co. Ltd., and Novalglass, are the market leaders profiled in the MRFR study.
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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 Scope
MRFR (Market Research Future) confirms that the toluene market was worth USD 26.84 million in 2018. MRFR also expects the market size to soar at a rate of more than 5.8% during the evaluation period (2021 to 2030).
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Market Drivers and Restraints
The strong demand for toluene is the result of its extensive usage in gasoline blends. It acts as an octane booster while maintaining the energy level of the gasoline. Additionally, its low sensitivity properties along with significant octane ratings make it perfect for use as a fuel in complex and heavily loaded engines. Toluene that is the form of benzene-toluene-xylene mixtures is used extensive to blend petrol and is a major by-product of styrene manufacture. Surging consumption of aromatics in the petrochemical sector for developing elastomers, nail paints, synthetic fibers, dyes, and agrochemicals could render the market quite lucrative in the following years.
The toluene market size presents several opportunities to the manufacturers, given the surge in disposable incomes and the significant economic growth. Toluene diisocynate (TDI) manufacturing should be the second-leading derivative market, in view of its extensive use in the manufacturing of polyurethanes, which has led to higher applications of toluene in forming toluene diisocyante (TDI). Expanding end-user sectors like cosmetics, explosives, and agrochemicals, particularly in Latin America and Asia Pacific can be another huge opportunity for the global companies. Rising investments in emerging countries will also favor the business growth in the years ahead.
Companies are increasingly focus on technical integration during the value chain, intensifying the competition in the market. Escalating use of the latest technologies like drones, Internet of Things (IOT), robotics, blockchain, artificial intelligence, and cloud computing is transforming several aspects of toluene manufacturing, for the better. These technologies are being adopted by the companies to foster the safety level, boost reliability and efficiency and also facilitate accurate monitoring throughout the supply chain.
Segmental Analysis
The toluene market can be considered for product type, application, and end-use industry.
The product types are gasoline additives, toluene diisocyanate (TDI), benzene and xylene, tri-nitrotoluene (TNT), solvents, and others. Benzene and xylene form the leading segment since these are extensively used as petrol blenders for better quality. The second in the lead is the solvents segment, due to their significant usage in coatings and paints.
The top applications of toluene include foams, paints & coatings, cleaning agents, fuel additives, polymer production, heating oils, and more.
End-use industries covered are building & construction, packing, oil & gas, healthcare, automotive, and others.
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Regional Outlook
The toluene industry will note varying levels of growth rates across a few regions, which are APAC or Asia Pacific, North America, the Middle East & Africa, Latin America, as well as Europe.
The highest gainer has been Asia Pacific, accounting for the biggest share in the global market in 2018. It is presumed that the region will remain the market leader throughout the analysis period, thanks to the rapid growth of the oil & gas sector. Lenient regulations with regard to the use of toluene has favored the regional market as well. Developing countries like China, South Korea, and India, are identified as the most profitable markets in Asia Pacific, considering the surging demand from the infrastructural and industrial sector. Besides, rising manufacturing of paints and coatings in China, which is giving way to set up of new production plants in the country. AkzoNobel recently started with the operations of the world's biggest powder coatings unit in Changzhou, China.
North America is the second biggest market for toluene, largely due to the strong presence of several oil & gas manufacturers in the region. escalating construction activities combined with the thriving automotive sector in the region has raised the need for polyurethane foams as well as paints and coatings, with the former using toluene as a key solvent. As a result, the regional market can expect to expand rapidly in the following years.
Affluent Firms
China National Petroleum Corporation (China), BP p.l.c. (UK), China Petroleum & Chemical Corporation (China), Exxon Mobil Corporation (US), Indian Oil Corporation Ltd (India), Covestro AG (Germany), TOTAL S.A. (France), Royal Dutch Shell plc (The Netherlands), Formosa Chemicals & Fiber Corporation (Taiwan), CPC Corporation (Taiwan), GS Caltex Corporation (South Korea), DuPont de Nemours, Inc (US), BASF SE (Germany), SK innovation co. Ltd (South Korea), are the well-known manufacturers in the global market for toluene.
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The companies are primarily focused on carrying out strategical moves such as new launches, business expansion, acquisition, and agreements to bolster their footprints across the globe.
To illustrate, in February 2021, Lanxess is all set to buy Emerald Kalama Chemical for a total sum of USD 1.1 billion. Emerald Kalama is a world-renowned developer of benzoic acid, using toluene oxidation at its Washington plant and a production unit in Rotterdam, the Netherlands.
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High Temprature Elastomers Market
High-temperature elastomers are widely used in the end-user industries such as automobile, building and construction, electronics, and industrial machinery among others. The global high-temperature elastomers market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading owing to the growing urbanization and industrialization in the developing countries the region.
The major countries attributing to this growth are India and China. The presence of the most populated countries has augmented the construction and automotive sector, which, in turn, is expected to boost the market growth during the forecast years. In addition to this, the growing electrical and electronic sector mainly in Japan and China have positively impacted the high-temperature elastomers market. Furthermore, the growing energy requirement has boosted the oil and gas related activities in the region, in turn, adding to the market growth. High-temperature elastomers are used as sealing materials and in the progressing cavity pumps (PCP).
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Key Players of High Temprature Elastomers Market
Dow Corning Corporation (U.S.)
Wacker Chemie Ag( Germany)
Momentive (U.S.)
Shin-Etsu Chemical Co., Ltd (Japan)
China National Bluestar (Group) Co. Ltd (China)
Daikin Industries Ltd (Japan)
DuPont (U.S)
KCC Corporation (South Korea)
Solvay S.A (Belgium)
3M Company (U.S.)
Industry/ Innovation/ Related News
February 2018- Eagle Elastomer Inc. announced to expand their fluoroelastomer compounds manufacturing facility at their Peninsula facility. The company is expected to invest around USD 1.25 million in the project with aim is to meet the increasing demand for high performance products across the globe.
November 2017- Royal DSM, a Dutch Chemicals Company announced to expand their high performance plastic manufacturing in Europe, to meet the rising demand for high temperature elastomers among the various end users. With this capacity expansion the company’s aim is to enhancing long term position in high performance plastics market.
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Competitive Landscape
The High Temperature Elastomers Market Share has analysed the degree of competition among the major manufacturers in high temperature elastomers market as well as sector growth and market scenario. The global high temperature elastomers market comprises of broad range of producers operating in the market which comprises of medium level and large scale manufacturers.
Some of the key players of high temperature elastomers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from South Korea, the Philippines, Malaysia, Taiwan, Japan, Australia, China, India, and Thailand. In addition, the key operating players of high temperature elastomers are observed to follow various strategic plans to enhance their product portfolio such as distribution agreements, joint ventures, product launches, strategic acquisition, and mergers, and exclusive agreements. Major manufacturers in this market are projected to enhance their manufacturing capacity of high temperature elastomers to meet the rising demand for high temperature elastomers across the globe.
High Temprature Elastomers Segments
The global high-temperature elastomers market is segmented into product type and end-user industry. On the basis of the product type, the global high-temperature elastomers market is segmented into silicone elastomers, fluorocarbon elastomers, fluorosilicone elastomers, perfluoro elastomers and others. On the basis of the end use industry, the market is further segmented into automotive, aviation, industrial machinery, healthcare, electrical and electronics, building and construction, and others.
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High Temprature Elastomers Regions
North America is dominating the global high-temperature elastomers market and is expected to retain its dominance during the forecast years. The developed end-user industry coupled with the increasing adoption rate is the major factor driving the market growth. The growing investment in the construction sector mainly in the U.S and Canada is further expected to surge the market growth during the forecast years. Furthermore, the developed electronic sector coupled with the presence of the ‘big three’ automobile companies namely General Motors, Ford and Fiat Chrysler is also expected to substantially add to the market growth.
European market of high-temperature elastomers is set to grow at a steady pace during the forecast period. The presence of the developed automobile sector and the electronics industry are the major factors driving the market growth. Furthermore, the construction industry in Europe is also contributing substantially to the growth of the market. The advantages of high-temperature elastomers in reducing vehicle emissions has fuelled the market growth owing to the strict government initiation in the reduction of greenhouse emissions in the region.
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Technical ceramics are manufactured with biochemical, thermal, mechanical, and electrical properties keeping in mind the various applications. They are also known as industrial or engineering ceramics. Applications with requirements for corrosion and wear resistance and a long shelf-life prefer technical ceramics. The global technical ceramics market report by Market Research Future (MRFR) comprises market intelligence, product analysis, and applications for the period of 2021 to 2028 (forecast period). The impact of COVID-19 and its analysis are a part of the report.
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Market Scope
The global technical ceramics industry is driven by its above average properties than regular ceramics. Properties of low thermal expansion, high stiffness, and nonlinear resistance can drive the market demand significantly. The vast growth witnessed in electrical & electronics, automotive, and pharmaceuticals industries can fuel the market growth over the forecast period. This is further aided by the huge demand for consumer electronic devices in China and India.
The high performance of ceramic matrix composites in comparison to nickel super alloys in the aerospace sector is evidence of the large potential for the global technical ceramics market. The move by manufacturers in cutting down raw material costs and entering the entire production chain can bode well for the market.
But high production costs can pose a challenge to the market growth.
Segmentation
The global technical ceramics market is segmented by product type, material, and end-user.
On the basis of product type, the market is segregated into ceramic coatings, monolithic ceramics, ceramic matrix composites, and others. Ceramic matrix composites (CMC) are expected to lead in the market owing to its application in automotive and electronics industries. Developments in CMCs and its intended use in turbine blades as well as its ability to handle temperatures close to 260 degrees.
By material, it is segmented into oxide and non-oxide.
End users of the market are military & defense, electronics & semiconductor, energy & power, automotive, pharmaceuticals, and others.
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Regional Analysis
The global technical ceramics market covers five major regions, namely Asia Pacific (APAC), Europe, Latin America, North America, and the Middle East & Africa (MEA).
Among the regions, APAC held a major market share in 2016. It is expected to be the fastest growing region due to the increasing population and the rise in per capita disposable income levels in developing nations. In addition, the increasing demand for technical ceramics in automobile and electronic industries in countries of Japan, China, and India are propelling the market growth. Manufacturing costs and supportive government policies can foster market growth in the region. In addition, the increasing defense expenditure coupled with increasing applications of technical ceramics in modern armor can spur the global technical ceramics market growth.
North America is expected to exhibit an expanding CAGR over the forecast period. Presence of three big automotive companies of Fiat Chrysler, General Motors, and Ford can augment the overall demand for technical ceramics in the automobile industry. Furthermore, developed end user industries such as electrical, electronics, and pharmaceuticals and the increasing adoption rate of engineering ceramics are other factors fueling the growth of the market. The U.S. and Canada are major countries attributing to the growth of the market.
Europe is a lucrative market and is mainly driven by the need for lightweight materials. Stringent regulations pertaining to the use of toxic chemicals and effects of mining on the environment can induce the need for technical ceramics.
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Competitive Outlook
Rauschert Steinbach GmbH, Morgan Advanced Materials, 3M Company, Kyocera Corporation, Saint-Gobain Ceramic Materials, McDanel Advanced Ceramic Technologies, Superior Technical Ceramics, CeramTec GmbH, Dyson Technical Ceramics Limited, NGK Spark Plug Co., Ltd., and others are key players of the global technical ceramics market.
Richardson RFPD, an American electronic component distributor, has signed an agreement with AVX RF Solutions. The agreement includes the production of capacitors, inductors, fillers, antennas, and couplers.
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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 Synopsis
As per the assessment conducted by Market Research Future (MRFR), the global pipe coatings market is expected to acquire a market value of more than USD 15,968.4 million by 2030.
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The pipe coating market is anticipated to be majorly driven by the growing demand for a higher shelf life of products and increasing initiatives to expedite water & wastewater treatment facilities during the forecast period. The surging demand for sewage treatment is projected to be another salient cause that can underpin the market expansion in the assessment timeframe. In addition, the rapid urbanization in developing countries is expected to offer lucrative opportunities for the pipe coating industry. Also, various benefits of pipe coating such as; decreased cost of energy and prevention of corrosion are other salient causes projected to enhance the demand for pipe coating, thereby augmenting the market.
Market Segmentation
The segmental analysis of the global pipe coating industry is done by surface type, product form, and end-use.
The surface type-based segments of the global market for pipe coating are internal and external.
The product-based segments of the global market for pipe coating are fusion bonded epoxy, metallic coatings, concrete coatings, and thermoplastic polymer coatings. The thermoplastic polymer coatings segment is further sub-segmented into polyethylene (P.E.), polytetrafluoroethylene (PTFE), polypropylene (P.P.), and polyurethane (P.U.).
The form-based segments of the global market for pipe coating are liquid and powder.
The end-use based segments of the global market for pipe coating are water & water treatment, marine, oil & gas industry, chemical processing, and others.
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Regional Analysis
Based on the region, the global market for pipe coating is segmented into Asia-Pacific, Europe, North America, and Middle East & Africa.
As per the analysis by MRFR, APAC is estimated to expand at a CAGR of 5.13% by 2030. The growing demand for energy in the region is expected to be a critical factor that can propel the market during the forecast period. The increasing expenditure of emerging nations to develop a new pipeline for water and water treatment is anticipated to underpin the market expansion in the assessment period. Besides, the oil & gas sector is predicted to play a salient role in augmenting the regional market. In addition, China and India are likely to thrive at a CAGR of 6% and 5.5%, respectively. The rapid expansion of industries in evolving nations is expected to grow the demand for pipe coating that can significantly boost the market growth.
Europe is anticipated to grow significantly by acquiring a notable market share during the forecast period due to the expansion of the oil & gas industry, which is expected to enhance the demand for pipe coating. The region is likely to expand at a CAGR of 4.10% during the assessment period. The participation of Germany and Russia is expected to provide a thrust to the expansion of the industry in the region.
North America is expected to procure a significant market value with a stable CAGR during the forecast period. The U.S. is anticipated to make the most notable participation to grow the regional market in the coming period.
MEA is likely to acquire a small market share during the forecast period due to the lack of awareness and poor economies.
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Key Players
Some of the eminent players of the global market for pipe coating are Arkema S.A., AkzoNobel N.V, 3M, Axalta Coating Systems Ltd, The Sherwin-Williams Company, Specialty Polymer Coating Inc, BASF SE, DowDupont Inc, PPG Industries, Inc, LyondellBasell Industries Holdings B.V, Shawcor, Wasco Energy, The Bayou Companies, LLC, and Tenaris
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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 Scope
Market Research Future (MRFR) projects the medical adhesives market to be worth USD 16.84 billion by 2027. Meanwhile, its expansion rate is expected to be more than 8.08% during the review period (between 2020 and 2027).
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Key Boosters and Barriers
Medical adhesives are known for their high biocompatibility, non-irritating, non-cytotoxic and non-sensitizing properties, which have boosted their use in a variety of medical devices. Moreover, silicone adhesives have hydrophobic characteristics, which make it perfect for use in devices that are used in water sports, including diving and swimming. The vast range of benefits and features of silicone medical adhesives have resulted in their enhanced popularity worldwide and could mean substantial market growth in the years ahead.
Medical devices are experiencing robust demand across the globe, thanks to the mounting awareness level among people about health & wellness. Strong impact of progressive wellness on rising number of consumers related to fitness as well as a healthy lifestyle has led to higher demand for wearable medical devices. These devices require medical adhesives that have impressive binding properties, which act as a barrier against moisture and oxygen. These factors are bound to create favorable growth avenues for the global industry in subsequent years. boosted the growth of the global medical adhesives market.
The market growth is also facilitated by the rising preference for modified polyurethane and epoxies adhesives, coupled with the surging use of methyl methacrylate adhesives in medical devices. Mounting penetration of advanced composites, rampant demand for green, sustainable, and non-hazardous medical adhesives, will also ensure solid market growth in the following years. Other encouraging factors include rising burden of chronic diseases, like cardiovascular ailments and diabetes, which boost the use of wearable smart medical devices to collect information based on breathing patterns, blood glucose levels and blood pressure.
Segmental Review
The medical adhesives market size can be considered for resin, technology, and application.
The resins discussed in the MRFR report are synthetic & semi-synthetic as well as natural. The synthetic & semi-synthetic-based resins are in the lead in the global industry.
The technology-based segments are Solid & Hot Melt, Solvent-Based and Water-Based.
Applications of medical adhesives are tissue bonding, implant, medical device & equipment, wound closure, tapes, dental, and more. The medical device & equipment segment is the fastest-growing application segment of the global medical adhesives market.
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Regional Insight
Medical adhesive market has been regionally split into Asia Pacific or APAC, Europe, MEA or Middle East & Africa and North America.
North America, with the highest share of more than 25%, is the top market for medical adhesive and is likely to remain in the lead throughout the conjectured timeline. Strong presence of renowned pharmaceutical firms along with the significant investments in the development and innovations of medical devices also foster the sales of medical adhesives in the region. High awareness levels among patients about wound infections and various diseases along with the mushrooming elderly population, particularly in the US, foster the growth avenues as well. The companies in the region are largely focused on developing sophisticated wound dressings instead of conventional staple and suture techniques, which should be a favorable trend in the coming years.
Europe is one of the strongest markets across the globe, on account of the accelerated cases of chronic disorders, especially along the burgeoning geriatric populace. This has also fostered the need for advanced medical devices with strong adhesives. Surge in medical spending in the region should be favorable for the medical adhesives industry in the next few years.
The Asia Pacific market for medical adhesive may progress at the fastest pace between 2020 and 2027, owing to the exploding population that requires better healthcare facilities. Medical adhesive also notes significant demand in the region due to the mounting healthcare expenditure and the soaring number of ambulatory surgical centers, especially in China and Singapore.
Major Vendors
Some of the major firms in the global market for medical adhesives include Dow (US), Johnson & Johnson (US), 3M (US), Arkema Group (France), H.B. Fuller (US), Avery Dennison Corporation (US), Ashland Inc. (US), Chemence (UK), Cohera Medical, Inc. (US) and Henkel AG & Company. These companies are stiving to expand their medical adhesive manufacturing capacity to cater to the surging demand from the healthcare industry.
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Latest Updates
January 2021
Adhezion Biomedical LLC confirms that its SecurePortIV, a tissue adhesive, has been recognized by the 2021 Infusion Therapy Standards of Practice (INS Standards) as a primary care for vascular access devices care and management. It is the first ever tissue adhesive that has been cleared by the FDA for this indication. This medical adhesive has a host of benefits, including securing and stabilizing VADs to bring down chances of device failure and dislodgement, and sealing of the insertion point to curb microorganism growth and many more.
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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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