PRANAV SURYAWANSHI

Base Oil Market is Predicted to Hit US$ 38.5 Bn by 2026

2019-12-24T13:19:03.340Z

The global base oil market was valued at US$ 33.2 Bn in 2017 and is projected to expand at a CAGR of 1.7% from 2018 to 2026, according to a new report titled ‘Base Oil Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) Growth in the global automotive sector and increase in number of manufacturing plants are key factors driving the global base oil market.

In terms of grade, the global base oil market has been classified into group I, group II, group III, group IV (PAO), group V (excluding naphthenic), naphthenic, and re-refined. The group I segment has been further sub-segmented into SN150, BS150, SN250, SN500, and others. Similarly, the group II segment has been sub-segmented into N150, N250, N500, N600, and others. The group III segment has been sub-segmented into 2cSt, 4cSt, 6cSt, and 8cSt. The naphthenic segment has been further divided into 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, and above 1200 SUS. The group I segment held dominant share of 37.1% of the global base oil market in terms of volume in 2017. However, the demand and supply for group I has been declining. It is being replaced by group II and group III base oils. In terms of volume, the group II and group III base oil segments are anticipated to expand at CAGRs of 1.8% and 2.5%, respectively, between 2018 and 2026.

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Based on application, the base oil market has been segregated into automotive fluids, process oils, industrial oils, metalworking fluids, hydraulic oils, and others. Automotive fluids is the dominant segment of the market. Automotive fluids essentially consist of engine oils, transmission oils, brake fluids, suspension oils & fluids, bearing lubricants, and friction-reducing greases. These fluids and oils are essential in smooth functioning of an automotive. Industrial oil is also a prominent application of base oils. Industrial machinery requires substantial amount of lubricants for friction reduction and cooling. Base oils are also used in the manufacture of hydraulic oils, which are employed in various machineries and equipment. Construction equipment, heavy duty presses, aircraft flight control systems, and hydraulic lifts are among key application areas of hydraulic oils.

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Geopolitical events and volatility in crude oil prices adversely affect the supply of crude oil. This creates disruptions in the base oil market. Economic recession and stagnating automotive sales are the factors that hamper the demand for base oil. However, demand for base oil is expected to rise steadily during the forecast period, led by the recovery in the global economy. However, rise in popularity of electric vehicles is anticipated to hamper the demand for base oil during the latter half of the forecast period. Furthermore, fluctuation in prices of crude oil has been negatively impacting the global base oil market since the last few years.

Key market players profiled in the research study include Royal Dutch Shell Plc, Nynas AB, China Petrochemical Corporation, ExxonMobil Corporation, PetroChina Company Limited, GS Caltex Corporation, The Phillips 66 Company, SK Lubricants Co. Ltd, British Petroleum, and Chevron Corporation.

Cyclopentane Market to Become a Worth US$ 533,319.84 Thousand by 2026

2019-12-24T13:18:57.530Z

Cyclopentane Market

Cyclopentane is a highly flammable hydrocarbon employed to manufacture synthetic rubber, resins, and rubber adhesives. It is also employed as a blowing agent for polyurethane foam, which is further utilized to insulate refrigerators and freezers. Cyclopentane has zero OPD and low GWP. In addition, it has the minimum k-factor and high dimensional stability due to its bulkiness. It provides excellent insulation and adhesion to liners or panels. Polyurethane foam manufacturers are major consumers of cyclopentane as a foam-blowing agent. Foam-blowing agents are essential additives required in the manufacture of polyurethane foams. These agents induce the formation of cellular matrix structures within the substrate in order to yield a foam-like formation. Thermal insulating properties of rigid polyurethane foams with cyclopentane as a blowing agent provide important energy- and environment-related benefits. Rigid polyurethane foams with cyclopentane are primarily designed to reduce transfer of heat through building structures and electric appliances such as residential as well as commercial refrigerators. This, in turn, reduces the effect of global warming.

Greenhouse gases such as methane, carbon dioxide, and nitrous oxide exist naturally in the atmosphere. Also, they are released in large quantities as a result of human activities. In view of the current trend of increasing emissions of most greenhouse gases, their atmospheric concentrations are expected to increase in the next few years. A major issue with refrigeration is ozone-harming chemicals and greenhouse gases released into the atmosphere. Cyclopentane is one of the cost-effective solutions after the phase-out of HCFC-141b, as it offers the maximum initial R-value, good peel adhesion, and good solubility with existing raw materials. Several foam manufacturers have chosen cyclopentane to replace HCFC-141b, due to its low cost and zero ODP and low GWP. This is expected to boost the demand for cyclopentane for use as a blowing agent and refrigerant during the forecast period. Cyclopentane is less potent as a global warming agent than fluorocarbons and it does not break down into acids, unlike fluorolefins. All these factors are projected to propel the global cyclopentane market during the forecast period.

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Based on application, the global cyclopentane market has been segmented into residential refrigerators, commercial refrigerators, insulating construction materials, analytical & scientific applications, and others. Phase-out of compounds such as HCFCs, HFCs, and CFCs under the Montreal Protocol drives the global cyclopentane market. Approximately 50% of all discarded household cooling appliances across the world contain chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) as well as other fluorinated compounds (such as HFCs), which significantly contribute to warming of the atmosphere and depletion of the ozone layer. Under the Montreal Protocol; HCFCs, HFCs, and CFCs that are used as refrigerants, as solvents, in fire protection, and in insulating foams are being phased out, due to rising consumer interest in ozone-depleting substance (ODS) alternatives such as cyclopentane. Global warming potential (GWP) of HFCs is up to 3,000 times that of CO2. Replacing HFCs with greener refrigerants having low upfront costs can result in 10%–50% of improvement in energy efficiency. All these factors are likely to boost the demand for cyclopentane during the forecast period.

Among products, foam-blowing agents is a leading segment of the global cyclopentane market. Surge in the demand for eco-friendly blowing agents for use in processing of PU foams is likely to boost the global cyclopentane market during the forecast period. Cyclopentane has shorter chemical lifecycle compared to that of halogenated saturated hydrocarbons such as methane or CO2, which have chemical lifecycle ranging from several months to several years. Cyclopentane is used as a blowing agent in the production of polyurethane foams. Cyclopentane-blown polyurethane foams are complex in their composition. They meet stringent environmental and safety requirements, while providing high insulation performance at stable processing conditions. This is likely to drive the demand for cyclopentane in the near future.

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Europe dominated the global cyclopentane market in 2017, followed by North America and Asia Pacific. Most companies manufacturing residential refrigerators in Europe prefer cyclopentane over other conventional technologies, due to its high blowing efficiency and excellent thermal properties. Thus, the cyclopentane market in the region is expected to expand at a significant pace in the next few years. Major manufacturers are engaged in the production of cyclopentane for use in the refrigeration industry. The U.S. Government promotes usage of rigid polyurethane foams blown with cyclopentane in household and commercial appliances, primarily for refrigeration applications. Under the Montreal and Kyoto Protocols, production of several substances responsible for ozone depletion such as CFCs and HCFCs would be phased out in the U.S. in the next few years. This is expected to boost the cyclopentane market in North America in the near future. In Asia Pacific, the demand for cyclopentane in countries such as China, Indonesia, Japan, Thailand, and South Korea has increased due to implementation of several supportive policies by governments and public–private partnership programs for removal of HCFCs. For instance, replacement of CFC-11 and HCFC-141b with cyclopentane, as it does not release ODS into the atmosphere during XPS production.

Most companies offer differentiated products for specific applications. Launch of new products, capacity expansion, brand promotions, and mergers and acquisitions are estimated to offer growth potential to companies operating in the global cyclopentane market in the near future. Rise in the demand for blended cyclopentane and increasing usage of cyclopentane in analytical and scientific applications such as resins, lubricants, and additives are expected to provide lucrative opportunities to manufacturers of cyclopentane in the next few years.

Major manufacturers operating in the global cyclopentane market are Chevron Phillips Chemical Company LLC, Maruzen Petrochemical Co., Ltd, HCS Group GmbH, Pure Chem Co. Ltd., INEOS Group Ltd. Haldia Petrochemicals Limited, Guangdong Dymatic Fine Chemical Co., Ltd., Trecora Resources, and Yeochun NCC Co., Ltd.

Electronic Adhesives Market to Reach a Value of US$ 8,107.3 Mn by 2026

2019-12-24T13:18:53.301Z

Electronic Adhesives Market

The global electronic adhesives market is characterized by the rise in presence of leading players in emerging economies of Asia Pacific. The region provides immense opportunities to companies engaged in production, sale, and distribution of electronic adhesives. Increasing number of market players have been considering expansion into Asia Pacific as a major strategic move to extend reach and strengthen their position in the global market.

The electronic adhesives market is also anticipated to expand due to the rise in demand for compact and lighter components in the electronic industry. Additionally, growth in penetration of Internet of Things (IoT) is driving the market. Increase in adoption of connected devices has transformed the way electronic appliances are built, giving players significant opportunities to make the most of this trend.

The global electronic adhesives market is primarily driven by the growth in usage of electronic components in several applications such as automotive, consumer electronics, medical devices, imaging devices, and aircraft. Rise in usage of connected devices and increase in trend of miniaturization of electronic devices are also boosting the demand for electronic adhesives. Other factors supporting the electronic adhesives market include rise in disposable income, changing lifestyle of consumers, and increase in consumption of automated appliances.

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In terms of product, the electronic adhesives market has been divided into UV curing, thermally conductive, electrically conductive, and others (including cyanoacrylate and polyamide). The electrically conductive segment dominates the electronic adhesives market. In terms of volume and value, the segment is projected to expand at a rapid pace during the forecast period. The UV curing segment held 32.8% share of the global electronic adhesives market in 2017. It is expected to be a rapidly growing segment during the forecast period. UV curing is used due to environmental demands, and manufacturing yield improvement.

Bases on resin, the global electronic adhesives market has been segregated into silicones, polyurethanes, epoxies, acrylics, and others (including polyester and polyol). Silicones are strong adhesives known for their flexibility and high temperature resistance. Their adhesion to surfaces is average, but their flexibility and durability is excellent. Based on application, the global electronic adhesives market has been classifies into encapsulation, conformal coatings, wire tacking, and surface mounting. Conformal coatings and surface mounting are the leading application segments of the market.

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In terms of region, the global electronic adhesives market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a highly promising region of the global electronic adhesives market. The market in the region is poised to expand at a CAGR of 9.4% during the forecast period. Rise in production of consumer electronics in countries such as India, South Korea, Japan, and China has significantly contributed to the electronic adhesives market in Asia Pacific. The market in the region has been expanding at a substantial pace owing to the high economic growth rate, development in manufacturing industries, presence of cheap labor, and increase in number of electronic adhesives-based application patents.

High degree of competition exists among players operating in the global electronic adhesives market. The market is dominated by large players and is moderately consolidated. Key players account for major share of the market. Prominent players operating in the global electronic adhesives market include Henkel AG & Company KGaA, SIKA Group, 3M, Bostik SA, and H.B. Fuller Company.

Linear Low-density Polyethylene Market is Expected to Reach US$ 70,183.5 Mn by 2026

2019-12-24T13:18:47.372Z

Linear Low-density Polyethylene Market

Linear low-density polyethylene Market is manufactured from polyethylene. It has unique rheological or melt-flow properties. In 1960, DuPont Canada started the first production line for commercial production of linear low-density polyethylene. LLDPE is less shear sensitive than HDPE and LDPE, due to its narrower molecular weight distribution and shorter chain branching. During the shearing process, LLDPE remains more viscous and, therefore, it is harder to process than LDPE of an equivalent melt index. Rheological properties of LLDPE can be summarized as ‘soft in extension’ and ‘stiff in shear’. Linear low-density polyethylene is widely used in the manufacture of plastic bags and sheets, plastic wraps, stretch wraps, pouches, toys, covers, lids, pipelines, buckets and containers, covering of cables, and flexible tubing.

Based on process type, the global linear low-density polyethylene market has been segmented into gas phase, solution phase, and slurry loop. Gas phase is the dominant process type segment of the global market. It is anticipated to expand at a rapid pace during the forecast period. The gas phase process has several advantages such as it has low initial installation costs, low temperature, and low reaction time.

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Based on application, the global linear low-density polyethylene market has been segmented into rotomolding, films, injection molding, and others (including metal coating, extrusion, and masterbatches). The films segment accounted for a dominant share of the global market in 2017. The segment is estimated to expand rapidly during the forecast period. The primary factor driving the films segment is high demand for LLDPE films from the flexible food packaging industry. LLDPE films are also used in the construction industry as water barriers, as these films contain some percentage of organophilic layered double hydroxides that have optimal thermal and water vapor barrier properties.

Based on end-use industry, the global linear low-density polyethylene market has been divided into packaging, building & construction, automotive, electrical & electronics, agriculture, household, leisure and sports, and others. The others segment comprises electric appliances, furniture, and medical equipment. Among end-use industries, packaging is projected to be a highly lucrative segment during the forecast period.Based on region, the global linear low-density polyethylene market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of demand, Asia Pacific held a leading share of the global linear low-density polyethylene market in 2017. The region is a major producer of linear low-density polyethylene.

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Middle East & Africa and North America are other significant consumers of linear low-density polyethylene. The linear low-density polyethylene market in Latin America and Europe is anticipated to expand at a sluggish to moderate pace during the forecast period. Demand for linear low-density polyethylene in these regions is estimated to rise in the next few years, owing to increasing demand for canned food products led by rising population and growing urbanization. Demand for linear low-density polyethylene is estimated to rise significantly in Middle East & Africa and Latin America in the near future. These two regions accounted for a low share of the global linear low-density polyethylene market, in terms of demand, in 2017. However, these regions are projected to create lucrative opportunities for the linear low-density polyethylene market during the forecast period.

Key players operating in the linear low-density polyethylene market are Exxon Mobil Corporation, China Petroleum & Chemical Corporation (SINOPEC), DowDuPont, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries Holdings B.V., Formosa Plastics, INEOS GROUP HOLDINGS S.A., Sasol, Westlake Chemical Corporation, NOVA Chemicals Corporation, Reliance Industries Limited, Mitsui & Co. Borealis AG, Chevron Phillips Chemical Company LLC, and Braskem.

Sodium Sulfate Market is Projected to be Worth US$ 686.8 Mn by 2026

2019-12-24T13:18:41.424Z

Sodium Sulfate Market

Sodium sulfate (NaSO4) is commonly known as soda of sulfate. It occurs in the crystal form. It is used in large quantities in various industrial and consumer applications. Sodium sulfate is obtained by mirabilite salt. Synthetic sodium sulfate is produced by lithium batteries and other synthetic process. It is globally manufactured in abundant quantities to cater to the demand from various industries such as detergents, kraft pulping, textiles, glass, and carpet cleaners.More than 50% of sodium sulfate is consumed in the powder detergents industry. It is used as filler material in powder detergents. Low price is boosting the application of sodium sulfate in the powder detergents industry.

Growth in the detergents industry is driving the demand for sodium sulfate. Commercially, sodium sulfate is employed as a dyeing agent in the textiles industry. Sodium sulfate lowers the negative charges of fabrics. Thus, the dyeing process becomes easier and effective. This, in turns, drives the application of sodium sulfate in the textiles industry. Growth of the global textiles industry is boosting the usage of sodium sulfate as a dyeing agent. Furthermore, sodium sulfate is employed in the glass manufacturing process. It is used as fining agent in the manufacture of scum-proof glass. Demand for dust or scum-proof glass is driven by the growth in automotive and infrastructure sectors. Sodium sulfate is also used to convert wood into pulp for paper manufacturing.

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Emerging economies in Asia Pacific such as China and India are major producers and consumers of sodium sulfate products. Sodium sulfate is employed as a cleaning agent in carpet cleaners. Additionally, it is used in oil refining and food preservation applications. Glass is also a key application segment of the sodium sulfate market. However, implementation of environmental norms and presence of significance substitutes (such as zeolite and sodium carbonate) are expected to hamper the sodium sulfate market in the near future. Furthermore, rise in preference of liquid detergents over powder detergents is adversely affecting the consumption of sodium sulfate in the detergents industry. Additionally, inclination of consumers toward sulfate free products/detergents is anticipated to inhibit the sodium sulfate market during the forecast period.

Based on source, the global sodium sulfate market has been bifurcated into natural and synthetic. Natural is a widely used source of sodium sulfate. It is extensively employed in various applications due to its easy availability and low cost attributes.

In terms of application, the global sodium sulfate market has been segmented into detergents, kraft pulping, textiles, glass, carpet cleaners, and others (including food preservatives and oil recovery). The detergents segment accounted for major share of the market in 2017. It is estimated to be a rapidly growing segment during the forecast period owing to the wide consumption of sodium sulfate as raw material and filler in powder detergents.

Based on region, the global sodium sulfate market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of value, Asia Pacific dominated the global sodium sulfate market in 2017. The region is projected to lead the global sodium sulfate market in the next few years. The market in Asia Pacific is likely to expand rapidly during the forecast period. North America and Europe are mature regions of the global sodium sulfate market. The market in these regions is anticipated to expand at a rapid pace due to the presence of key manufacturers. The sodium sulfate market in Middle East & Africa and Latin America is expected to expand substantially during the forecast period due to the presence of emerging economies and growth in textiles and glass industries in these regions.

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High degree of competition exists among players operating in the global sodium sulfate market. The market is dominated by large players that are technologically sound. These account for prominent share of the market. The sodium sulfate market is capital and technology intensive. Sodium sulfate is also used in high-end applications; therefore, brand image plays a vital role in the market.

Key players operating in the global sodium sulfate market include Alkim Alkali Kimya A.S., Birla Cellulose, Cordenka GmbH & Co. KG, Cooper Natural Resources, Elementis plc, Lenzing Group, Minera De Santa Marta, S.A., S.A. Sulquisa, Searles Valley Minerals, Saskatchewan Mining and Minerals Inc., Grupo Industrial Crimidesa S.L., Sodium Sanayii Anonim Sirketi, and XinLi Chemical.

Decorative Coatings Market is Expected to be Worth US$ 79,903.6 Mn by 2026

2019-12-24T13:18:36.292Z

Decorative Coatings Market

Decorative coatings improve the esthetics of and provide protection to surfaces. They are applied to commercial and residential buildings. These coatings protect surfaces from elements such as moisture, UV radiation, and microbes. Decorative coatings include paints, wood stains or transparent coatings, enamels, and lacquers for floors, roofs, walls, ceilings, decks, pavements, walkways, concrete surfaces, and other building and construction applications. Reconstruction and renovation activities in the construction sector are propelling the global decorative coatings market.

Based on resin, the decorative coatings market has been segmented into acrylics, polyurethanes, alkyds, vinyl acetate emulsions, epoxies, and other resins such as polyester and fluropolymer. Advantages of acrylics include excellent color and gloss retention, maintenance of film clarity, and resistance to chalking. Acrylic-based decorative coatings can be applied in the form of water-borne coatings or solvent-borne coatings. Acrylics binders with superior pigment-binding capacity and water-resistance are preferred over other types of binders.

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Polyurethanes are commonly used for decorative metal coatings. Polyurethane coatings offer flexibility in terms of finishes, which include high-gloss finish, semi-gloss finish, and matte finish. They are often used as a topcoat on epoxy primer. Key properties of polyurethanes are weather resistance, corrosion resistance, abrasion resistance, chemical resistance, and oil resistance. Expansion of the segment can be attributed to properties of polyurethanes such as high tensile strength and abrasion resistance.

In terms of technology, the decorative coatings market has been classified into water-borne, solvent-borne, UV-cured, and other technologies, which include powder-based and oil-based. The water-borne segment is estimated to expand rapidly during the forecast period due to their eco-friendly nature. Water-borne decorative coatings meet the standards imposed by the U.S. and European Union on VOC emissions.

Based on application, the decorative coatings market has been bifurcated into residential and non-residential. Decorative coatings are used for new construction and repainting of residential constructions. Increase in population and rise in urbanization in emerging economies are anticipated to drive the decorative coatings market. Decorative coatings are primarily used in interior applications in residential constructions and include coating for furniture, shelves, and decorative structures.

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In terms of region, the global decorative coatings market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on consumption, Asia Pacific is expected to create lucrative opportunities for the decorative coatings market during the forecast period. The market in countries in Asia Pacific, especially China and India, is expanding at significantly thus, boosting the demand for building and construction materials, which includes decorative coatings. Rising population is a key factor fueling the decorative coatings market in the region. Furthermore, North America is projected to be a highly lucrative region owing to the recovery of the construction industry. Major players operating in the decorative coatings market are focusing on acquisitions to increase their market share. This, in turn, is anticipated to propel the market.

High degree of competition exists among market players operating in the decorative coatings market. The market is dominated by few big players and is moderately consolidated. Key players operating in the decorative coatings market include Akzo Nobel N.V, PPG Industries, Inc., Kansai Paint Co., Ltd., BASF Coatings GmbH, The Sherwin Williams Company, RPM International Inc., Axalta Coating Systems, Clariant, Nippon Paint, and Celanese Corporation.

Thermoplastic Elastomers Market is Predicted to Hit US$ 28,000 Mn by 2026

2019-12-24T13:18:32.277Z

Thermoplastic Elastomers Market

Thermoplastic elastomers are materials that possess properties of both elastomers and plastics. All thermoplastic elastomer materials are based on a hard thermoplastic and a soft elastomer. Thermoplastic elastomers are eco-friendly in nature. They are easy to recycle. The unique combination of properties of vulcanized rubber and easy processability of thermoplastic makes thermoplastic elastomers suitable to be used in a wide range of applications in end-user industries such as automotive, building & construction, medical, consumer goods, and others. Thermoplastic elastomers have excellent physical properties such as high dimensional stability, chemical inertness, good vapor and gas transmission properties, and flexibility.

About 85% of plastic products in the modern world are made of thermoplastic elastomer materials. Thermoplastic elastomers can be prepared by melt mixing, solution blending, or latex mixing. Thermoplastic elastomers can be extruded and molded and, when required, they can regain their original shape. Thermoplastic elastomers offer a wide range of performance attributes such as heat and oil resistance, improved adhesion, tear resistance, surface appearance, and low permeability. Thermoplastic elastomers are resistant to heat, UV radiations, humidity, biological degradation, etc. They are widely used in over-molding and encapsulation applications. Asia Pacific has become a hub of automotive production over the last few years. Currently, the region accounts for more than 50% of the global production. The automotive industry in countries such as China, India, and Japan is anticipated to expand significantly during the forecast period.

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Attractive properties of thermoplastic elastomers such as weather resistance, oil and grease resistance, abrasion resistance, and vibration damping make manufacturers of various end-products rely on these elastomers. Rise in population and increase in the income of the middle class in developing economies are driving the global thermoplastic elastomers market. Increase in sales of automobiles in developing economies such as China and India and the presence of global auto-manufacturers such as Toyota, Mitsubishi, and Nissan in Japan are likely to propel the demand for thermoplastic elastomers in Asia Pacific during the forecast period. Across the globe, fuel-efficient technologies are being adopted widely. Thermoplastic elastomers enhance the fuel efficiency of automobiles. Global automobile production has increased by over 15% since 2010, with Asia Pacific accounting for more than 50% of the global production. Demand for thermoplastic elastomers is increasing in the building & construction sector also. Thermoplastic elastomers can be used in plumbing fixtures, siding, flooring, insulation, panels, doors, windows, glazing, bathroom units, gratings, railings, and structural and interior or decorative applications.

In terms of type, the global thermoplastic elastomers market has been classified into block copolymers, blends, and others. Block copolymers include thermoplastic polystyrene, thermoplastic polyurethane, thermoplastic copolyesters, and thermoplastic amides. Thermoplastic polystyrenes is the most used type of thermoplastic elastomers. Blends include thermoplastic polyolefins and thermoplastic vulcanizates. Based on application, the thermoplastic elastomers market can be categorized into automotive, building & construction, medical, and consumer goods. The automotive application segment can be sub-segmented into wires & cables, under-hood bonnets, exteriors. The building & construction segment can be sub-classified into seals & gaskets, expansion joints, and others. The medical segment can be sub-divided into tubing, catheters, grips, and others.

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Governments across the globe are increasingly investing in material research and development activities. Innovation in plastics in the automotive industry is a major factor driving the global thermoplastic elastomers market. Thermoplastic elastomers are increasingly being used in the automotive sector. Auto components that can be manufactured by using thermoplastic elastomers include control elements, air bags, anti-slip mats, window trims, cowl panels, spoilers, seals, and air duct components. Demand for thermoplastic elastomers is on the rise in the building & construction sector as well. Thermoplastic elastomers require lower fabrication cost and shorter processing time and they offer higher design flexibility as compared to thermosets. Rising consumption in consumer goods and electrical & electronics (E&E) sectors is also driving the demand for thermoplastic elastomers. The medical industry is experiencing increase in the demand for thermoplastic elastomers for use in tubing, catheters, grips (razors and surgical tools), seals, vial closures, drug delivery or monitoring patches, and connectors. Styrenic block copolymers are largely used in medical applications. They are used in bags for infusion solutions, components of medical devices, disposables (for syringes and tubing), and implants such as artificial heart valves and joints. Thermoplastic elastomers offer high oxygen barrier performance and hence, they are used in consumer goods as well as packaging applications.

Key players operating in the global thermoplastic elastomers market include Exxon Mobil Corporation, Covestro, Huntsman Corporation, BASF SE, E.I. du Pont de Nemours and Company, Celenese Corporation, PolyOne Corporation, Arkema Group, SABIC, and KRATON Corporation. Manufacturers are striving to produce thermoplastic elastomers with good sealing performance, reduced cost, high resistance to heat and chemicals, and reduced weight.

Cogeneration Equipment Market Size to Expand Significantly by the End of CAGR 4.8% by 2025

2019-12-23T13:47:27.211Z

The global cogeneration equipment market is largely consolidated in nature, observes Transparency Market Research (TMR) in a new report. To further bolster their foothold, leading players in this market are forging alliances with original equipment manufacturers (OEMs) of various end-use industries. These companies are also investing in research to introduce innovative products, which will help them gain competitive advantage. They are also vying to tap growth opportunities in emerging economies, especially in Asia Pacific, which in turn will expand their geographical presence.

Key players in the global cogeneration equipment market include BDR Thermea, Siemens AG, Mitsubishi Heavy Industries Ltd., Clarke Energy, Innovate Steam Technologies, Foster Wheeler AG, ANDRITZ Energy & Environment GmbH, 2G Energy, ABB, Aegis Energy Services Inc., Rolls Royce Plc., Innovate Steam Technologies, and Kawasaki Heavy Industries.The global cogeneration equipment market was valued at US$22,175 mn in 2016. Expanding at a CAGR of 4.8% during the forecast period from 2017 to 2025, the market is estimated to become worth US$33,543 mn by the end of 2025.

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On the basis of technology, gas turbine segment constituted more than 22.5% market share in 2016. Application-wise, the industrial segment held more than 58% revenue share in the overall market in 2016. In terms of geography, Asia Pacific emerged as the most lucrative market holding more than 42% market share in 2016.

Depletion of Fossil Fuels Necessitating Sustainable Alternatives for Energy Generation Drives Growth

Globally, ever-increasing energy needs along with depletion of fossil fuels is necessitating the adoption of alternate techniques for energy generation such as cogeneration. Government initiatives for energy conservation and the need to tackle climatic changes have led to the adoption of cogeneration, which in turn is benefitting the cogeneration equipment market. Some of the cogeneration equipment are reciprocating engines, steam turbines, electric generators, boilers, heat recovery steam, and gas turbines. Cogeneration or combined heat and power involves generation of heat and electricity simultaneously from a single fuel source such as biomass, natural gas, waste heat, wood, coal, or oil.

Cogeneration is used across a host of areas such as shopping complexes, residential buildings, oil and gas production facilities, hospitals, universities, and small and large industries. Apart from this, increasing fuel prices and unpredictable economic conditions across the world have created the pressing need for efficient power generation techniques to create sustainable and profitable energy solutions. Cogeneration is rapidly gaining popularity as it allows thermodynamically efficient use of oil at minimal energy wastage.

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The increasing number of renewable energy projects in several parts of the world due to depletion of fossil fuels and the abundant availability of natural gas in several parts of the world such as Russia, the U.S., and Canada are stoking growth of cogeneration equipment market.

Need for Sophisticated Infrastructure Limits Adoption

Despite a number of favorable factors, the growth of cogeneration equipment market is hampered due to several factors. High initial investment along with need for sophisticated technological requirements for deployment of cogeneration equipment is challenging their adoption across small and medium-sized enterprises. Further, lack of adequate infrastructure leading to inconsistent orders is making difficult for product manufacturers to deal with plant management, cost depreciation, and inventory costs.

Bunker Fuel Market Detailed Analysis and Forecast up to 2020

2019-12-23T13:47:25.258Z

The global bunker fuel market is extremely competitive on account of the presence of many small independent suppliers of bunker fuel, a large number of leading oil companies, and large independent bunker fuel suppliers. Most companies are focusing on geographical expansion as their key strategy for strengthening their hold in the market which is getting more competitive by the day, states Transparency Market Research (TMR) in its latest research report on bunker fuel. Companies are focusing on attractive markets in Asia Pacific and Europe. Players are also striving to establish their consumer base in Europe and Asia Pacific. Leading names of the companies with your operating in the bunker fuel market are: Gazpromneft Marine Bunker LLC, Chemoil Energy Limited, Lukoil-Bunker LLC, and World Fuel Services Corporation.

According to TMR, the consumption volume of bunker fuel will reach 460 mn tons by 2020. On the basis of geography, the region which is contributing the highest in terms of revenue to the global bunker fuel market is Asia Pacific. Increasing traffic of container and oil tanker vessels in the ports of China and Singapore have compelled companies within the bunker fuel market to boost their investments in the Asia Pacific region. Asia Pacific is expected to be one of the key factors behind the growth of the overall market during the forecast period. On the basis of end-user, the bulk and general cargo vessel segments is leading in the market. However, it is expected that cargo vessels will emerge as a leading end user segment of bunker fuel.

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Increasing Offshore Exploration Activities to Drive Growth of Market

One of the key factors impacting the growth of the global bunker fuel market is the growing number of exploration activities in offshore destinations. A large number of bunker fuel suppliers have shifted their operations to offshore destinations and ports which are strategically nearer to offshore hydrocarbon resource sites on account of the high demand for bunker fuels for the operation of offshore support vessels.

Reducing Crude Oil Price to Aid Growth of Bunker Fuel Market

The dropping prices of crude oil is also boosting the growth of the bunker fuel market. With reduced prices of crude oil worldwide, there has been bulk purchase and subsequent strategic storage of crude oil which in turn has led to a stupendous rise in the movement of crude oil tankers across the globe. This is boosting the demand for bunker fuel.

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Increasing Marine Pollution to Force Companies to Shift to Cleaner Fuels

One of the key factors which is acting as a challenge for the bunker fuel market is the increasing concerns regarding the worsening condition in terms of marine pollution which in turn has resulted in the imposition of several emission regulations on the bunker industry. There are marine routes which have been declared as emission control areas that has made it is essential for shipping companies to switch to low sulphur bunker fuels. While in some way this is negatively impacting the bunker fuel market, very soon it is expected to create promising growth opportunities for marine diesel oil (MDO) and marine gas oil (MGO) grade bunker fuels and this in turn is expected to benefit the overall bunker fuel market. It is likely that from these developments, LNG bunkering will benefit.

Biostimulants Market is Presumed to be Valued at US$ 5,526.8 Mn by 2027

2019-12-23T13:47:22.091Z

Biostimulants are those fertilizers that are produced naturally. They find use in the improving the growth of plants and enhancing nourishment of the agrarian products. Throughout the life cycle of a crop, biostimulants help in the development and growth of plants. The global biostimulants market is likely to ride high on the need for improving growth and development of plants. In addition, increased soil degradation is another stimulant for the expansion of the global biostimulants market.

Some of the renowned companies in the global biostimulants market are Adama Agricultural Solutions Ltd., Arysta Lifescience Corporation, Koppert Biological Systems, BASF SE, Eastman Chemical Company, and Koppert BV. Utilizing the extensive research methods, experts at Transparency Market Research (TMR) has prepared an all-inclusive report on the global biostimulants market. The market is likely to expand at a growth rate of 12.3% CAGR over the assessment tenure, from 2019 to 2027. The market is likely to attain prominence reaching US$ 5526.8 Mn through 2027.

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Asia Pacific Market to Gain Prominence Due to Growing Popularity of Organic Farming

In the global biostimulants market, Asia Pacific is forecasted to rise rapidly, in terms of both volume and revenue. The growth of the Asia Pacific biostimulants market is expected to be steered by the countries like India, Japan, South Korea, and China. Biostimulants find use in seed treatment to better the vigor of crop at the initial stage of development in Asia Pacific.

Biostimulants also enhance the capacity of plants to absorb nutrients and facilitate in the growth of the plants. There is an increased demand for high quality agricultural products with a rise in the spread of organic farming in Asia Pacific, which is likely to work in favor of the global biostimulants market over the assessment tenure. The need for improved productivity is another stimulant for the expansion of the Asia Pacific biostimulants market.

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Need for Increased Yield to Accentuate its Demand in the Market

The global biostimulants market is anticipated to be driven by the decreasing availability of fertile land and increased demand for better yield. Organic biostimulants hold lucrative opportunity for the market over the years to come. Biostimulants enhance the quality of soil microflora, which facilitates uptake of nutrients in a more efficient manner. They accelerate antioxidant activities in plants and build stronger defense against disease pressure and environmental stresses. Biostimulants are linked with gardening and organic farming and both are experiencing substantial progress in regular agriculture as well.

The use of biostimulants has evolved tremendously and has moved from high-value crops like fruits and vegetables to regular crops fiber crops, pulses, and cereals. Biostimulants develop tolerance toward abiotc stresses for plants and increase yield for crops like barley, rice, and wheat. The huge scope of application of biostimulants can lead to significant rise in the yield of crops like barley, wheat, and rice.