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Hexamethylenediamine (HMDA) is majorly used as a chemical intermediate, corrosion inhibitor, and curing agent. Over recent years, the chemical industry is witnessing a spurting rise, mainly due to the rapid industrialization across the world. Therefore, Hexamethylenediamine finds extensive applications in various end-use industries such as water treatment, textile, and automotive. Also, HMDA finds applications in the manufacturing of resins used in the production of adhesives and paints.
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Thus increasing consumption of these materials leads to augmented demand and production. Resultantly, the HMDA market is garnering massive traction on the global platform. Market Research Future (MRFR), in its Covid-19 Analysis on the global Hexamethylenediamine market, asserts that the market is estimated to grow with 5.65% CAGR during the forecast period (2020-2027). The market had valued at USD 5.98 MN in 2018, States MRFR, in its Covid-19 HMDA market analysis.
Increasing demand for Hexamethylenediamine in the automotive and textile industries acts as a significant driving force for the market growth. The rising demand for Hexamethylenediamine as a precursor in the production of nylon 6, 6, substantiates the growth of the market excellently. In the automobile industry, Nylon 6, 6, is used to manufacture airbags, electro-insulating elements, and radiator end tanks. Additionally, rising environmental concerns provide impetus to market growth, promoting the demand for bio-based HMDA.
These factors cumulatively create lucrative opportunities for industry players. On the other hand, HMDA is moderately toxic, and direct exposure during its manufacturing can result in eye damage and skin burns. Regulatory agencies such as the American Conference of Governmental Industrial Hygienists (ACGIH) and the European Chemicals Agency (ECHA) have categorized Hexamethylenediamine as a hazardous substance.
Factors such as the toxic nature of HMDA and the demand-supply gap in raw materials required in the production of HMDA are expected to impede the growth of the market. Nevertheless, rising investments in the industry would support market growth throughout the assessment period. Also, a hefty rise in the paints & coatings industry and increasing HMDA usages in the petrochemical industry are projected to fuel the regional market growth.
Hexamethylenediamine Industry - Segmentations
The market is segmented into three dynamics;
By Application : Nylon Synthesis, Lubricants, Coating, Adhesives, and others.
By End-Use Industry : Textile, Paints & Coatings, Automotive, Water Treatment, Petrochemical, and others.
By Regions : Europe, Americas, Asia Pacific, MEA, and Rest-of-the-World.
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Global Hexamethylenediamine Market - Geographical Analysis
Asia Pacific region dominates the global Hexamethylenediamine market. Market growth attributes to the increasing HMDA demand from some of the burgeoning end-use industries, such as textiles, paints and coatings, automotive, petrochemical, and, most importantly, the water treatment sector. Moreover, the continually growing chemical industry led by the rapid industrialization & urbanization in the region substantiates the market demand.
China is the largest consumer market for HMDA in the region on account of the rising nylon exports from the country. Similarly, India and other South-East Asian countries contribute equally to the regional market growth, heading with the increasing use of HMDA in the water treatment sector. Furthermore, the rapidly improving economy in the region boosts market growth, creating numerous opportunities for industry players. The APAC Hexamethylenediamine market is projected to retain its dominance over the global market throughout the review period.
North America stands second in the global Hexamethylenediamine market. The market growth is majorly driven by the growing demand for HMDA as a key raw material in the paints & coating industry and the increasing constructional activities in the region. The US, backed by the rising technological advancements and multifunctional emerging applications such as 3D printing and functional coatings, drives the regional market growth majorly.
The Hexamethylenediamine market in the European region is growing continually. Factors such as increasing uses of HMDA in the manufacturing of automotive components and lubricants and increasing vehicle production in the region foster market growth. Additionally, the presence of major key players such as BASF SE, LANXESS, Merck KGaA, and Evonik Industries AG in the region impacts the growth of the market. The European Hexamethylenediamine market is estimated to grow at an impressive CAGR during the forecast period.
Hexamethylenediamine Market - Competitive Analysis
The Hexamethylenediamine market appears to be highly competitive and fragmented due to the presence of many well-established players. To gain a larger competitive share, players adopt strategies such as mergers & acquisitions, collaboration, expansion, and product/ technology launch. The demand for Hexamethylenediamine is high, as these are sold in volume and well-margined markets. Manufactures adopt digital transformation to drive strategic growth and streamlining the profit, customizing the end application of specialty chemicals.
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Major Players:
BASF SE (Germany), INVISTA (US), Asahi Kasei Corporation (Japan), Merck KGaA (Germany), Toray Industries, Inc. (Japan), Evonik Industries AG (Germany), Ascend Performance Materials (US), Solvay (Belgium), DuPont (US), and LANXESS (Germany), among others.
Industry/Innovation/Related News:
February 25, 2020 ---- Invista, a fiber, resin, and intermediates company in the US, announced that it is still progressing with its USD 1.2 BN adiponitrile (ADN) project in China, amid the coronavirus outbreak that is causing disruption & creating the risk of an economic slowdown. The 400,000t/yr ADN plant in Shanghai's chemical park had secured an environmental & safety approvals from authorities in January.
The project is on track, and the construction would begin in the same year, with production scheduled to start in 2022. Upon completion, the ADN plant will integrate with Invista's existing hexamethylenediamine (HMD) and polymer facilities to supply raw materials for the production of nylon 6,6 and other high-value products that are hugely used in the electronics and automotive sectors across the APAC.
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Overview:
Powder coating can be defined as a free-flowing, dry powder applied on the surface of any substrate. This powder coating has an advantage over the liquid coatings as they show no demand for solvents. The powder can be thermoplastic or thermoset polymer in nature. Its application as coating of metals, such as drum hardware, aluminum extrusions, household appliances, automobile, and bicycle parts. The Antimicrobial Powder Coating type has the potential to prevent growth of microorganisms like bacteria, fungi, or protozoans. The component for such powders come from the immune systems of living things that can kill bacteria and various other pathogens. The global market for Antimicrobial Powder Coating would gain better traction from the healthcare sector and air conditioning system and can register robust growth between 2023 and 2030. The time frame, as per Market Research Future (MRFR) can be considered as the forecast period.
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In the healthcare sector, growing demand for prevention of contamination in various tools to provide safety and security to patients. Protection for medical instruments is gaining significant boost and with growing investment in the hospitals, this can even find further traction. In the construction industry, this growth would be substantial due to the rise in demand for cements with antimicrobial powder coating.
However, the efficacy of this antimicrobial powder coating may go down with time, which can be a substantial market deterrent.
Regional Analysis:
The antimicrobial powder coating market size in the Americas can be marked as the highest profit-maker. The regional market can be segmented into North and South America, of which the North part has the better growth possibilities. In the North, it is the US that would drive growth for the region. The regional market would gain much from its high inclusion in the air conditioning system. In the Europe, the market for antimicrobial powder coating has significant scope for growth, especially in the healthcare sector. The region has superlative infrastructure for the healthcare industry and it would provide an easy access to the market. The market would percolate easily with in countries like the U.K., France, Germany, and Italy owing to their better infrastructural setup. This growth is also getting traction from growing health awareness and industries that can drive the demand for paint & coating industry. In the food & beverage sector, this growth would be notable. In the Asia Pacific region, growth for the market for antimicrobial powder coating would be huge owing to the growing industrial setups as global players have seen the regional potential and governments showing interest in taking the growth further.
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Segmentation:
The market study of the Antimicrobial Powder Coating has a better scope for easier understanding with segments on diverse scale. These segments, as MRFR directs in the report, are on the basis of type and application.
By type, the market for antimicrobial powder coating has been segmented into microorganisms (Listeria, Pseudomonas, Escherichia Coli, and others), metal (silver, copper). The silver segment is showing potentials of growing at an unprecedented rate and probability of achieving a huge revenue.
By applications, the market for antimicrobial powder coating can be segmented into food & beverages, healthcare, building & construction, paints & coatings, textile, air conditioning & ventilation system, and others. The healthcare segment has high chance of growth in the coming years.
Competitive Landscape:
Players taking keen interest in the global market for Antimicrobial Powder Coating are Diamond Vogel (U.S.), Akzo Nobel N.V.(Netherlands), BASF SE (Germany), PPG Industries, Inc. (U.S.), Axalta Coating Systems (U.S.), RPM International Inc. (U.S.), Koninklijke DSM N.V. (Netherlands), The Sherwin-Williams Company (U.S.), The Dow Chemical Company (U.S.), Sono-Tek Corporation (U.S), and others. MRFR profiled these companies to track their latest developments and make a note of the direction in which the global market is moving.
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Recently, researchers at Nanopack, an EU-funded project, revealed that they have developed a plant-based essential oils as antibacterial coating to develop an antimicrobial packaging.
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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
MRFR (Market Research Future) reveals in its new study that the epoxy resin market could clock in a growth rate of 7.20% between 2021 and 2030. The study also says that the market can gain a valuation of USD 7,699.6 Million by 2030-end.
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Prominent Boosters and Key Challenges
Properties including high mechanical strength, moisture resistivity, thermal stability, adhesion, heat, and mechanical resistance add to epoxy resins’ appeal across multiple industries, with major applications like jewelry, insulators, laminates, and industrial. Rapidly surging use in end-use sectors such as marine coatings, transportation, electrical & electronic laminates, aerospace, decorative powder coatings and composites are bound to bolster epoxy resins demand in the forthcoming period. The scenario is further favored by the rise in automotive and infrastructure development that paves the way for higher product demand.
Mounting number of R&D activities combined with technical advancements in the modified resins field is bound to open up growth avenues for industrial use-cases. The global demand for epoxy resins has also been escalating due to the rising utilization of wind energy in view of fast-paced depletion of conventional energy sources. Opportunities will emerge in the form of soaring number of construction activities across developing countries in the Middle Easter, as well as Asia Pacific, which epoxy resin manufacturers can leverage in the years ahead. in the forecast period.
Segmental Analysis
The epoxy resin market has been considered for type, technology, application as well as end-user.
The different types of epoxy resins are Novolac, Glycidylamine, DGBEA, Aliphatic, DGBEF, and more.
Technology-based segments covered in the report include Waterborne Epoxy, Liquid Epoxy, Solvent Cut Epoxy, and others.
Applications are Electronic Encapsulation, Paints & Coatings, composites, Adhesives, Grouts & Mortars, and more.
End-Users in the global market are Marine, Automotive & Transportation, Aerospace, Electrical & Electronics, Building & Construction, to name a few.
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Regional Outlook
APAC or Asia Pacific, Europe, North America, MEA or Middle East & Africa as well as Latin America are the key markets for epoxy resins worldwide.
The North American market has taken the lead while the US should capture the highest position in the region, given the robust sales of second-hand cars in the country. This has raised the use of epoxy resins in refinish coatings of automobiles and will facilitate market growth in the following years. Surging focus on wind turbines instead of conventional sources for power generation in the face of mounting concerns regarding the environment has been favorable for the North American market. The thriving electronics industry in the United States also adds to the market value while the escalating use of the latest technologies as well as the surge in exhaustive R&D activities will ensure higher growth for the epoxy resins industry in the next few years.
The APAC market benefits from the rampant demand for faster and highly advanced electronic products, in view of rapid technical innovations and the growth in R&D activities within the electronics sector. As a result, the demand for epoxy resins has doubled in a short period, give the expansive application range in the electronic segment. Dramatic rise in the number of development centers as well as manufacturing plants in the region, especially across India and Japan, with prime focus on the development of high-end products has fostered the market expansion rate to a large extent. China and India have emerged as significant consumers of epoxy-based coatings and paints in recent years, while Taiwan and Japan are currently the production hubs for electrical & electronics products.
The European market for epoxy resin has been growing at a stunning pace, motivated primarily by the rapid infrastructure development as well as the soaring aerospace industry. The latter’s growth in the region has lifted the need for architectural coating, which has resulted in a higher demand for epoxy resins. Aircraft manufacturers in the region generate considerable demand for coatings and composites, which assists in market expansion. Besides, the booming sales of automobiles and the resultant growth of the automotive industry should also be favorable for the epoxy resin market in the region, over the analysis period.
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Affluent Companies
Aditya Birla Chemicals (India), Kukdo Chemical Co., Ltd (South Korea), Kolon Industries (South Korea), Inc, Atul Ltd (India), Ciech S.A. (Poland), Huntsman International Llc (U.S.), China Petrochemical Corporation (China), Nan Ya plastics corporation (Taiwan), Hexion (U.S.), Chang Chun Group (Taiwan), Spolchemie (Czech Republic), Olin Corporation (U.S.), Macro Polymers (India), Dow (U.S.) are the major company in the global industry for epoxy resins.
Mergers and acquisitions along with new product launches and agreements are the key strategies generally employed by the leading manufacturers. Other than this, the players also focus on expanding their production capacity across different regions.
For instance, in May 2021, Sika AG, the specialty chemicals firm fostered its production capacity of its Qatar plant, commencing with the manufacturing of epoxy resins at the unit. The company expects the expansion will help it leverage the country’s rapidly expanding construction industry and note higher sales of epoxy resins in the coming years.
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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 global geotextiles market is expected to exhibit a strong 6% CAGR over the forecast period from 2021 to 2028, according to the latest research report from Market Research Future (MRFR). The global geotextiles market is primarily driven by the growing demand for drainage materials in infrastructure construction, where geotextiles show enhanced performance and have thus become the material of choice. The report looks at the major drivers and restraints affecting the global geotextiles market and presents forecasts as to the likely impact of these factors on the market over the forecast period. The economic background of the global geotextiles market is studied in detail in order to provide forecasts as to the extent of the impact of these drivers and restraints on the market. The relevance of the major drivers and restraints operating on the market in terms of the present economic scenario is also explained in detail in the report.
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Geotextiles are widely used in construction and agricultural applications in order to enable smooth drainage of wastewater and other liquids. They are made from synthetic or natural fibers and are used in other applications such as dams, landfills, and sediment control. The growing demand for infrastructural development in emerging regions around the world is likely to be a major driver for the global geotextiles market. Dams are being constructed in a number of countries around the world in order to fulfill the need for drinking water. This has led to a growing demand for geotextiles in order to provide drainage support, increase the mechanical strength of the construction, and to increase resistance to extreme wave action. This is likely to be a major driver for the global geotextiles market. The growing demand for geotextiles in agricultural applications in order to ensure better drainage is also likely to be a major driver for the global geotextiles market.
The increasing demand for road construction is likely to be the prime driver for the global geotextiles market. Road construction requires effective drainage solutions, as considerable amounts of water can get accumulated on road surfaces and cause various problems, including difficulties in commuting on the given road. The increasing road construction in China, India, and other emerging countries is likely to be a major driver for the global geotextiles market.
Competitive Analysis:
Leading players in the global geotextiles market include GSE Environmental, TenCate Geosynthetics, Officine Maccaferri SpA, DuPont de Nemours Inc., NAUE GmbH & Co. KG, AGRU America Inc., Berry Global Inc., Propex Operating Company LLC, Thrace Group, Fibertex Nonwovens A/S, TENAX SpA, and Huesker.
Developing environmentally viable geotextiles is likely to be a major development channel in the global geotextiles market, as leading players are likely to focus on the same in order to increase their allure for consumers.
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Segmentation:
The global geotextiles market is segmented on the basis of material, product type, end use, and region.
By material, the global geotextiles market is segmented into synthetic and natural fibers. Synthetic fibers held the largest share in the global geotextiles market in 2018 due to their easy availability, low costs, high tensile strength, and superior creep resistance. The chemical inertness of synthetic fibers is also an important characteristic.
By product type, the global geotextiles market is segmented into non-woven, woven, knitted, and others. The non-woven segment is likely to dominate the global geotextiles market over the forecast period.
By end use, the global geotextiles market is segmented into transportation, environmental, energy and water resources, building site infrastructure, agriculture, and others. The increasing road and airport construction around the world is likely to drive the transportation segment of the geotextiles market at a robust growth rate over the forecast period.
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Regional Analysis:
Asia Pacific held the largest share of 40% in the global geotextiles market in 2018 and is likely to remain the largest contributor to the market over the forecast period, primarily due to the growing road and dam construction activities in developing economies in the region. China is likely to be a global leader in the global geotextiles market over the forecast period.
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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
According to MRFR analysis, the Global Elastomers Market is slated to rise at a CAGR of 4.8% to reach USD 107.1 Billion by the end of 2027.
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Market Dynamics
The growing demand for Elastomers Market for various automotive applications, owing to their flexibility and durability, is a major factor driving market growth. Tires, interiors, and exteriors are the three most popular uses for automotive elastomers. TPU films, for example, are used in automotive seating applications such as headrests, arm sets, and lumbar support systems because of their high abrasion and scratch resistance. Furthermore, the rapidly growing car industry in developing countries such as China, India, and others provides enormous opportunities for the use of a wide variety of elastomeric products. Furthermore, the increasing demand for high-performance bio-based elastomers for a wide range of engineering applications is expected to provide lucrative opportunities for the elastomers market's main players. Growing demand for elastomers in the heating, ventilation, and air conditioning (HVAC) industry, as well as rising demand for elastomers in the construction industry, such as adhesives, tubing, coatings, and other products, are expected to drive market growth over the forecast period.
During the assessment era, however, fluctuating raw material and crude prices are likely to stymie the global elastomers market. COVID-19 had a negative effect on the market in 2020. The decline in demand for elastomers used in manufacturing automotive and construction materials such as tyres, gaskets, plastics, tubes, adhesives, coatings, belts, and hoses, as well as the temporary halt in construction and automotive manufacturing activities owing to government-imposed lockdowns in several countries, has resulted in a drop in demand for elastomers used in manufacturing automotive and construction materials such as tires, gaskets, plastics, tubes, adhesives, coatings, belt However, in the current situation, the use of elastomer-based gowns, drapes, gloves, and other medical items has increased, boosting demand for the market studied.
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Market Segmentation
The thermoset elastomers are the market leaders in terms of form. These polymers are among the elastomers that cannot be molded after they have been cured. Thus, thermoset elastomers are commonly used in high-temperature applications due to their structural integrity. Because of its superior strength and versatility, the synthetic segment held the largest market share in 2018. These elastomers are made from petroleum-based monomers and are artificially synthesized. Furthermore, due to major advantages over traditional thermosetting elastomers, the thermoplastic elastomers segment is expected to be the fastest-growing segment during the forecast era. These elastomers are re-moldable and recyclable.
The market has been divided into automotive, medical, electronics, textiles, and other end-use industries. In 2018, the automotive segment accounted for more than 62 percent of the industry. The increased use of elastomers in various applications such as airbags, tyres, gaskets, bumpers, and HVAC systems is mainly responsible for this. During the forecast era, the demand for elastomers in interior applications in the automotive industry is expected to grow at a significant pace. During the analysis era, the medical segment is expected to rise at the fastest rate. The medical industry is seeing an increase in the use of elastomers due to their hydrolytic durability and ease of sterilization in a number of applications such as peristaltic pump catheters, needleless syringes, and valves. Furthermore, recent advancements in the development of bio-based elastomers open up a broad range of possibilities for artificially synthesized biocompatible organs.
Regional Overview
In 2018, the APAC region held the largest market share and is expected to grow at the fastest rate during the forecast period. Because of the high demand for the commodity, the automotive and electronics industries in the area are rapidly expanding. Due to growing customer demands in the region, China is the leading nation, followed by India and South Korea. Furthermore, the region's growing demand for electric vehicles is fueling regional market growth.
In 2018, North America maintained a stable market share. This is owing to the product's high demand in the mature medical and automotive industries. Due to the presence of major players such as Dow, Exxon, and Dupont in the world, the United States, followed by Canada, is the leading country in the region. Furthermore, the growing use of elastomers in the manufacture of aircraft components is propelling regional market development.
The regional market is growing due to high vehicle output and substantial exports from the area. The main contributors to the Europe regional market are Germany, the United Kingdom, and Italy.
Latin America's elastomer market is expected to develop due to the region's expanding automotive, medical, and textile industries.
The Middle East and Africa regional market benefits from the region's rising automotive and electronics industries.
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Competitive Analysis
BASF SE (Germany)—Elastollan, Arkema S.A. (France)—Pebax, and Evonik Industries AG (Germany)—VESTAMID are some reputed names in the Elastomer market.
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Market Overview
The global carbon fiber market has been segmented on the basis of raw material, form, type, application, and region.
By raw material, the global carbon fiber market has been classified into PAN, pitch, and rayon. Among these, the PAN was the largest and the fastest growing segment in 2017. The segment is expected to maintain its dominance during the review period, owing to the high-performance characteristics offered such as high specific strength and high temperature tolerance, which result in better performance, high yield, and better processing of carbon fiber.
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Based on form, the global carbon fiber in automotive market has been divided into composite and non-composite. The composite segment held the largest market share in 2021, due to its wide use in the automotive and aerospace defense industries.
On the basis of type, the global carbon fiber market has been segmented into continuous, long, and short carbon fibers. The long carbon fiber is high in demand in the construction industry. Thus, with the growth of the construction industry, the long carbon fiber segment is expected to witness healthy growth during the review period.
The global market on the basis of application has been divided into automotive, aerospace defense, wind turbines, sports equipment, molding compounding, construction, pressure vessels, and others. The aerospace defense segment held the largest share in the global carbon fiber market in 2017. It is expected to continue its dominance during the review period. However, the automotive segment closely follows the aerospace defense segment in terms of share. The aerospace defense industry uses carbon fibers on a large scale, due to its durability, lightweight, and high performance. Carbon fiber-based products are widely used in remote areas by the defense industry, and heavyweight products are generally avoided. It is used in the manufacturing of parts of aircraft, due to the high tensile strength and resistance to chemicals and extreme weather conditions.
Market players
Some of the major players operating in the global carbon fiber market are Toray Industries, Inc (Japan), Teijin Limited (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Chemical Corporation (Japan), HYOSUNG (South Korea), Cytec Industries Inc. (US), DowAksa (US), OJSC «SvetlogorskKhimvolokno» (Belarus), Taekwang Industrial Co., Ltd (South Korea), Nippon Graphite Fiber Co., Ltd. (Japan), Formosa Plastics Corporation (US), Carbon Mods (US), and Kureha Corporation (Japan).
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Regional Analysis
Global carbon fiber market has been spanned across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East Africa. North America held the largest share in the global carbon fiber market in 2017, owing to the abundant use of carbon fiber in the automotive and aerospace defense industries. Asia-Pacific held the second-largest, but was the fastest growing market for carbon fibers in 2017 and is projected to follow the same trend during the forecast period. The European and Latin American markets are expected to grow at considerable and moderate rates, respectively, during the forecast period. The Middle East African market is projected to witness sluggish growth during the review period.
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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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Extruded Polystyrene Market Dominated by Asia Pacific due to Growing Construction Industry
The global extruded polystyrene market is expected to reach a valuation of USD 3.6 billion by the end of the forecast period from 2023 to 2030, according to the latest research report from Market Research Future (MRFR). The global extruded polystyrene market is mainly driven by the growing demand from the construction industry, which is growing rapidly in both developing as well as developed countries. The report provides a thorough background data sheet on the global extruded polystyrene market, including the major drivers and restraints affecting the market’s growth, the leading players operating in the global extruded polystyrene market, and the historical growth trajectory of the market. The future growth prospects of the global extruded polystyrene market are analyzed in great detail in the report in order to provide readers with a clear picture of how the market is likely to grow over the forecast period.
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Extruded polystyrene is formed from polystyrene by the process of extrusion, i.e. processing polystyrene to form blocks of uniform width and height. The global extruded polystyrene market is mainly driven by the growing demand from the construction industry, where it is used as an insulation component in a varied range of construction applications. The growing demand for effective insulation materials in construction projects is likely to be the major driver for the global extruded polystyrene market over the forecast period. Insulation materials have become highly important in the construction industry due to the help they provide in terms of lowering the overall energy consumption of the project and protecting the building’s interiors from moisture, heat, and sound. Effective insulation has emerged as a prime factor in creating energy-efficient construction projects, which minimize the costs of energy (i.e. heating or cooling) for the building’s occupants and lower the overall energy bill of the project.
The growing research into expanding the application scope of plastics is likely to be a key driver for the global extruded polystyrene market. Extruded polystyrene is used in various applications in the construction industry as well as other application industries such as electronics production, automobile production, and toys and other household items. These applications are also likely to be crucial for the global extruded polystyrene market over the forecast period.
On the other hand, the adverse environmental effects of the nonbiodegradable extruded polystyrene could present a major barrier for the growth of the global extruded polystyrene market over the forecast period.
Competitive Analysis:
Leading players in the global extruded polystyrene market include BASF SE, Kingspan Group, Emirates Extruded Polystyrene LLC, ACH Foam Technologies Inc., Soprema, URSA Insulation SA, Austrotherm, Ravago SA (Ravatherm), Abriso NV, Owens Corning, and DowDuPont.
In February 2019, Ravago acquired the European Styrofoam operations of DowDuPont, including production as well as post-production activities such as sales and marketing, customer service, and supply chain operations.
Segmentation:
The global extruded polystyrene revenue growth has been segmented on the basis of end-use industry and region.
By end-use industry, the extruded polystyrene market has been divided into residential construction and commercial construction. The commercial construction segment held a majority share of 63% in the global extruded polystyrene market in 2017 and is likely to retain a dominant share in the global market over the forecast period due to the growing demand for commercial construction in emerging economies in Southeast Asia, the Middle East, and Latin America. The growing emphasis on the environmental viability of building structures in these regions is likely to drive the demand from the extruded polystyrene market in the region over the forecast period.
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Regional Analysis:
The global extruded polystyrene market is dominated by Asia Pacific due to the rapid pace of growth of the construction industry in countries such as India, China, Malaysia, Australia, and Japan. Rapid urbanization in the region has driven the demand for extruded polystyrene in the region and is likely to remain a major driver for the market over the forecast period. Growing residential construction in Asia Pacific is also likely to be a major driver for the extruded polystyrene market over the forecast period.
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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) studied the global building thermal insulation market 2021 for the review period till 2028. The global building thermal insulation market value can expand at 4.7% CAGR and can earn around USD 38.64 Bn by 2028 from USD 28.02 Bn in 2020.
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Drivers and Restrains Impacting Building Thermal Insulation Market
The increase in the adoption of thermal insulation in modern construction is expected to support the market rise in the analysis period. The introduction of mega infrastructure projects and the rise in tangibility of smart city projects are observed to boost the incorporation of building insulation solution that can add to the upsurge of building thermal insulation market in the assessment tenure. The availability of advanced technologies to control the flow of heat energy at different temperature for various type of infrastructure can promote the market in the foreseeable future. Moreover, the easy accessibility of building thermal insulation materials in different color, surface finish, core composition, texture, and performance and at low thermal conductivity, generally less than 0.1W/mK, can favor the market rise in the years to come. The growing awarness about efficient thermal insulation material specifically for building are stone wool, glass wool, extruded polystyrene (XPS), polyurethanes (PU), and expanded polystyrene (EPS) among others.
The rise in infrastructure and architectural activities is another major cause that can drive the expansion of global building thermal insulation market. The growing concern for energy conservation in buildings has resulted into the demand for the insulation materials for both residential and non-residential sectors, thus is expected to augment the market of building insulation market over the forecast term.
In addition, the implementation of stringent government regulations can catalyze the adoption of advanced insulation material for the development of efficient energy buildings, thereby compelling builders and contractors to adopt such material. In addition, urbanization and rise in demand for thermal comfort is another significant cause that can fuel the market of building thermal insulation growth over the assessment period.
On the contrary, prices volatility of plastic foams and change in crude oil prices are other cause that can limit the growth of building thermal insulation market.
Segmentation Analysis of Building Thermal Insulation Market
The segment analysis of the global building thermal insulation market is based on end use, material type, and application.
The material type-based segments of the global building thermal insulation market are plastic foams [expanded polystyrene (EPS), wool insulation, phenolic, polyurethanes (PU), and extruded polystyrene (XPS) among others. The segments of the wool insulation segment are glass wool and stone wool.
The application-based segments of the global building thermal insulation are roof insulation, wall insulation, and floor insulation among others. The sub-segment of the roof insulation segment are flat roof and pitch roof. The sub-segments of the wall insulation segment are external wall, internal wall, and air cavity wall.
The end-use-based segments of the global building thermal insulation market are non-residential and residential.
Regional Analysis of Building Thermal Insulation Market
In Europe, the building thermal insulation revenue forecast is expected to register a healthy growth rate over the evaluation period. The expansion of the regional market can be credited to stringent norms and regulations enforced by regulatory bodies to the construction of sustainable building in present time and in the future.
In Asia Pacific, the market of building thermal insulation is likely to upsurge at a decent pace over forecast term due to the rise in construction activities throughout this region to develop energy-efficient building. The upscaling need for residential and non-residential infrastructure can add to the expansion of APAC building thermal insulation market.
In North America, the building thermal insulation market can expand exponentially owing to the increase in the consumption of thermal insulation materials in this region. Similar growth causes are observed for market in Latin America.
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Building Thermal Insulation Market Key Players
Saint-Gobain SA (France), Johns Manville Corporation (US), BASF SE (Germany), Knauf Insulation (US), Kingspan Group (Ireland), Owens Corning (US), Rockwool International A/S (Denmark), Huntsman International LLC (US), Firestone Building Products Company, LLC (US), Dow (US), Cabot Corporation (US), Covestro AG (Germany), Paroc Group (Finland), URSA Insulation, SA (Spain), GAF Materials LLC (US), NICHIAS Corporation (Japan), Lapolla Industries, Inc. (US), Aspen Aerogels, Inc. (US), ODE Insulation (Turkey), Trocellen GmbH (Germany), KCC CORPORATION (South Korea), and Recticel SA (Belgium) are some prominent names in the global building thermal insulation 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 Scope
Market Research Future (MRFR) affirms that the Carbon Nanotubes (CNTs) Market 2021 could advance at a strong rate of 20.36% between 2022 and 2030 (appraisal period). It is quite possible for the market to reach USD 6,026.4 Million by 2030-end. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
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Key Boosters and Restraints
Carbon nanotubes have observed phenomenal traction in the medical field over the years and have been subjected to intense researches, with major focus on drug delivery as well as biosensing methods to treat diseases and monitor health. This factor has been quite favorable for the carbon nanotubes market, especially since the COVID-19 outbreak. Although the pandemic has been brutal for the manufacturing sector, and supply chains have been affected severely by the worldwide lockdown, the demand for the CNT technology is projected to go up as companies are trying to boost their production capacity to bridge the growing demand and supply gap.
Companies are emphasizing majorly on research and development to create carbon nanotubes-based technologies that can help reduce the COVID-19 impact. To elaborate, in May 2021, Nanomix Inc. (US) developed a technology based on carbon nanotube sensors that can help detect and test SARS-CoV-2, claims the company. It is one of the many U.S firms that are currently waiting for FDA approval to use the new diagnostic tests for the novel coronavirus. Apart from the COVID-19 aspect, researchers are also focusing on developing sustainable products, in keeping with their green environment goal. For instance, in August 2021, Researchers from the AALTO University created a graphene–carbon nanotube catalyst that could be the first step in their clean air revolution. This technology will help have more control on essential chemical reactions that produce hydrogen fuel, thereby curbing the environment damage.
The escalating use of CNTs in the aerospace & defense sector has been a notable trend in the global market. Speaking of key market trends, the demand for CNTs is also picking up speed in the electrical & electronics sector, which could mean considerable growth in the coming years. Besides, the mounting application scope of carbon nanotubes in manufacturing of automobile components as well as in sports equipment could provide attractive opportunities to leading manufactures in the very near future.
Segmental Analysis
The carbon nanotubes market can be considered for type, method and end-use industry.
The primary types of carbon nanotubes include single-walled carbon nanotubes/SWCNTs as well as multi-walled carbon nanotubes/MWCNTs. In the year 2018, the leading segment was MWCNTs, as a result of strong consumer demand given its affordability. The segment can also post an expansion rate of more than 22% in the following years.
The key methods studied in the extensive report are arc discharge, chemical vapor deposition, laser ablation, high-pressure carbon monoxide disproportionation, and more. As of 2018, the top position has been held by the chemical vapor deposition segment with a share of more than 97%, as a result of its higher yield and cheaper cost compared to other methods.
Automotive, sports, electrical & electronics, energy, aerospace & defense, and others are the top market end-users identified in the MRFR report. Out of these, the leading segment in 2018 was electrical & electronics with the highest share of close to 42%, reveals MRFR. The mounting use of carbon nanotubes in the electrical and electronics sector due to their appealing properties has been the major reason for the segment’s lead in the global market.
Regional Insight
The regional categorization of the Carbon Nanotubes market survey covers APAC/Asia Pacific, Latin America, North America, MEA/Middle East & Africa as well as Europe.
APAC has remained the biggest market since 2018, with a share of roughly 55%, thanks to the growing industrialization rate across the emerging countries like India, Japan and China. Additionally, APAC can soon procure the fastest CAGR during the given period, with China emerging as the most lucrative market in the region. The country’s dominance in the region is the outcome of the substantial abundance of lower priced raw materials and the mass production at low cost. Moving ahead, the regional market mainly benefits from the rising use of electronic products like tablets, OLED TVs, smartphones and more. Given the surge in the financial status of the middle-class populace, electronic products have noted significant demand in recent years, thereby boosting the CNT market growth in the region.
Standing at the second position since 2018, North America is a strong market in light of the escalating use of carbon nanotubes across industries like electrical & electronics, aerospace & defense, sports, energy and automotive. North America is most likely to accrue a growth rate of more than 19% over the conjectured period, while the US could take the lead in the regional market.
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Top Market Contenders
Top market contenders profiled in the MRFR study include Nanoshel LLC (US), Thomas Swan & Co. Ltd (UK), LG Chem (South Korea), Carbon Solutions, Inc (US), Arry International Group Limited (China), KUMHO PETROCHEMICAL (South Korea), NanoLab Inc (US), Arkema SA (France), Showa Denko K.K. (Japan), Nanocyl SA (Belgium), Nanocyl SA (Belgium), and 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 Analysis
The worldwide Zinc Oxide Market is predicted to touch USD 4,946.26 million at a 5.85% CAGR over the forecast period (2020-2027), as per the latest Market Research Future (MRFR) report. Zinc oxide is a white, powdery inorganic chemical compound that is composed of zinc and oxygen. Also known as zinc white or calamine, it is obtained through three processes- wet process, direct, and indirect process. Some of its common examples include makeup and foot powders. In the form of an ointment, it is used in sun protection products and diaper rash products.
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Zinc oxide has deodorant-like and antibacterial properties that make it ideal for toiletries and medical products. Moreover, it is widely used in vitamin supplements, fertilizers, and animal feed. Its use does not end here. Zinc oxide serves as a catalyst in the chemical industry as well as used as a corrosion inhibitor and in paints for mildew control. In recent times, zinc oxide has transcended to use in glass and ceramic compositions, concrete use, and also cigarette filters.
Various factors are propelling the zinc oxide market growth. These factors, in accordance with the MRFR report, include the growing use in electronic items, semiconductors, and the rubber industry, burgeoning demand in personal care, pharmaceuticals, and cosmetics industry, and government approval to use zinc oxide in beauty products.
Market Segmentation
The MRFR report provides a complete segmental analysis of the zinc oxide market growth forecast report on the basis of process, application, and end user.
Based on end user, the zinc oxide market is segmented into healthcare, food and beverages, metallurgy, automotive, building and construction, personal care, and others. Of these, the automotive segment will have the largest share in the market over the forecast period. This will be followed by the personal care segment.
Based on application, the zinc oxide market is segmented into rubber, ceramics, fertilizers, pharmaceutical products, cosmetic ingredients, light-emitting diodes, paints and coatings, food additives, metal processing, animal feed and nutrition, lubricants, and others.
Based on process, the zinc oxide market is segmented into ZnO nanostructures, wet, laboratory, waelz, direct, and indirect. Of these, the indirect segment will dominate the market over the forecast period. This will be followed by waelz.
Regional Analysis
By region, the zinc oxide market report covers the latest trends and growth opportunities across Europe, North America, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. It is predicted to grow at a 5.40% CAGR. Canada, as well as the USA, are the key contributors in this region.
The zinc oxide market in Europe will have the second-largest share in the market over the forecast period. This is owing to the presence of a strong economy and constant technological advancements. It is predicted to grow at a 5.01% CAGR.
The zinc oxide market in the APAC region will grow at the fastest pace over the forecast period. It is predicted to grow at a 6.73% CAGR.
The zinc oxide market in Latin America is predicted to grow at a 7.81% CAGR over the forecast period.
The zinc oxide market in the Middle East and Africa is predicted to have a small growth over the forecast period at a 5.61% CAGR.
Key Players
Leading players profiled in the zinc oxide market report include Nyrstar, GHC Ltd., Zochem LLC., Marzinc, Miike Smelting Co. Ltd., Recylex, PontenossaSPA, Symrise, US Zinc, Advanced Nano Products Co. Ltd., Befesa, EverZinc, Weifang Longda Zinc Industry Co. Ltd., Grillo-Werke AG, and American Zinc Recycling LLC. Key players have adopted numerous strategies such as collaborations, partnerships, product innovations, research and development, acquisitions, and mergers to create a niche in the market.
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September 2019: Researchers at the IIT Hyderabad and IIT Jodhpur have come up with a semiconductor material which can help in detecting gas leaks with extreme sensitivity. This research is chiefly on metal semiconductors, especially zinc oxide as it undergoes changes in the electrical resistance during the presence of hydrogen gas.
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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®
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Phone:
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Email: [email protected]
Website: https://www.marketresearchfuture.com