The medical adhesive tapes market is expected to grow from an estimated USD 6.64 billion in 2017 to USD 8.76 billion by 2022, at a CAGR of 5.69%. The high growth of the Asia Pacific medical adhesive tapes market can be attributed to the increased demand for medical adhesive tapes from emerging economies, such as India, China, Taiwan, South Korea, Vietnam, and Singapore, among others. The medical adhesive tapes market in China is growing rapidly and this trend is expected to continue till 2022, in terms of production and supplier activities, owing to low labor costs in the country. In addition, the demand for medical adhesive tapes in various applications is increasing rapidly, including surgeries, wound dressings, splints, secure...
The refrigeration oil market size is projected to reach USD 1.4 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 4.7%. The growth of the market is driven by the increasing demand for consumer appliances, growing demand from food & pharmaceutical industries, and rising demand for low GWP refrigerants. Also, increasing consumption of packaged food products is expected to drive the refrigeration oil market. APAC is the key market for refrigeration oil, globally, followed by North America and Europe.
Asia Pacific accounted for the largest share in 2018 and is also projected to record the highest growth rate during the forecast period. The growth in the Asia Pacific region can be attributed to the increasing demand for pre-engineered buildings from the growing non-residential construction and infrastructural development in the region. The major demand for pre-engineered buildings in the region is contributed by India and China, owing to the growing population, economic growth, government investments, and demand for low-cost green buildings. Furthermore, foreign investors are setting up their factories and distribution centers in the developing countries of Asia Pacific owing to cheap labor, trade liberalization, and favorable...
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The plastic caps and closures market is witnessing considerable growth owing to the rise in demand from the beverage and pharmaceutical industries. Beverage packaging is used to enhance the shelf life while retaining the taste and texture of the beverage. Demand from beverage companies for novel differentiating closures drive the market for premium caps in the beverages industry. This growth can also be attributed to the rising demand for product diffraction and branding. Growing demand from the pharmaceutical industry for tamper-evident closures is another factor driving the growth of the plastic caps and closures market. MarketsandMarkets projects that the plastic caps and closures market will grow from USD 40.52 billion in 2018...
The global market for Hindered Amine Light Stabilizers (HALS) is projected to reach USD 1.15 Billion by 2022, at a CAGR of 7.1% from 2017 to 2022. The growing demand from major application industries such as packaging, automotive, and other industrial applications in emerging economies, are driving the global HALS market.
The thermoforming plastic market size is estimated to be USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% during the forecast period. The food industry represents the largest consumption group for thermoforming plastics. The key classifications found in the food & agriculture packaging industry include fresh produce, processed food, and non-perishables. As thermoforming plastic provides better protection from moisture, bacteria, and odor, it is ideal for packaging food for a more extended period. Blister packaging is the predominantly used type of thermoforming plastic in the medical sector, as it is easy to peel and convenient to handle. Moreover, pharmaceutical products require protection from moisture, leakage...
The global water storage systems market size is expected to grow from USD 15.6 billion in 2019 and is projected to reach USD 20.5 billion by 2024, at a CAGR of 5.6% from 2019 to 2024. Major drivers of the water storage systems industry include the rapidly growing population, water scarcity, stringent regulation for conservation & consumption for water and others.
The high performance fluoropolymer (HPF) market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations.
Hot mix asphalt is durable, resistant to moisture damage and thermal cracking. It also provides excellent workability and skid resistance. This segment is growing due to developments in the construction of high traffic roads like such as highways, race tracks, and airfields.