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Wood Plastic Composites Market | Size, Value Share, Latest Trend, Key Player Review, Business Prospect and Forecast to 2025

2020-09-03T05:50:51.148Z

Market Synopsis

According to MRFR the analysis, the GLOBAL WOOD PLASTIC COMPOSITES MARKET was valued around USD 4.13 billion in 2018 and is expected to reach over USD 8.79 Billion by the end of 2025 at a CAGR of 11.4%.

Wood plastic composites (WPCs) are composite materials with wood and plastics as constituent materials. WPCs offers properties such as stiffness, resistant to decay, and flexibility which can be altered by changing the composition of the constituent materials. Due to these properties, WPCs are considered the material of choice in the railing and decking applications, which hold two-third share of the global market. The key factors boosting the growth of the global wood composite market are increasing construction activities and expanding automotive industry across the globe.

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Pricing and Regulatory Analysis

In 2018, the price of polyethylene ranged between USD 733.7 and 1162.65 per metric ton and is expected to decline gradually during the forecast period. The growing adoption of bio-based polymers has resulted in decline in the prices for WPCs products and consequently increased the sale, which is expected to fuel the growth of the global market during the forecast period.

The environmental regulations have increased the adoption of green materials, which is expected to boost the global wood plastic composites market during the forecast period. This is due to the plastics from WPCs can be recycled partially. ISO 16929 by the International Organization for Standardization, for determination of the degree of disintegration of plastic materials.

SEGMENTATION

By Type

Polyethylene (PE): This segment accounted for the largest market share in 2018 owing to the properties such as low price, easy processing, and recyclability. Moreover, the easy availability and low recycling cost of PE make it a preferable material for decking & railing applications.

Polyvinyl Chloride (PVC): The growth of the segment is primarily due to the growing automotive industry with its use in interior applications to provide retro finish to the vehicle, moreover, high-rise buildings and other construction applications. The segment is expected to witness healthy growth in the developing countries with rapid urbanization.

Polypropylene (PP): The segment accounted for the second-largest share in 2018, which is attributed to its high strength and less heat-absorbing property over PE. The growth of the segment is driven by the increasing demand for decking & railing materials resistant to heat absorption, color fading, and sponginess.

Others: Polystyrene (PS) and acrylonitrile butadiene styrene (ABS).

By End-Use Industry

Building & Construction: It is projected to be the largest segment owing to the high consumption of WPCs in decking & railing applications. The properties such as flexibility and resistance to decay have increased the demand for WPCs in the building & construction industry. The increasing construction activities in emerging countries is the factor fueling the growth of the WPCs market. Moreover, increasing reconstruction activities in North America and Europe is also expected to propel the growth of the market during the forecast period. High economic growth and low mortgage rate in North America with inclination toward the aesthetic appearance in households add to the growth of the segment.

Automotive: The increasing demand for passenger and commercial vehicles is likely to boost the growth of the global wood plastic composites market during the forecast period. For instance, the automotive industry is expected to witness a growth of 8% in its production capacity, producing around 100 million units in 2019 as compared to 91 million in 2018.

Consumer goods: The growth of the segment is due to consumption of WPCs in table, chairs, toys, and others. WPCs being resistant towards decay, and warps are used in the manufacturing of park benches, chairs, and tables whose demand is increasing owing to increasing urbanization and growing population.

Others

By Region

North America: Market growth is driven by the high demand for WPCs in decking & railing applications.
Europe: Stringent government policies refraining the use of chemical-based composites in the construction industry.
Asia-Pacific: Most opportunistic market, owing to rapid industrialization.
Latin America: Positive growth owing to the growing automotive industry, which is fueling the demand for WPCs in Latin America.
Middle East & Africa: The growing infrastructure and consumer goods sectors.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Water-Soluble Polymer Market Research Report - Forecast to 2025

2020-09-03T05:50:07.532Z

Market Synopsis

WATER-SOLUBLE POLYMER MARKET is projected to register 5.2% CAGR and reach around USD 52.6 Billion by 2025.

The demand for water-soluble polymers is primarily driven by the growing investments in mineral processing coupled with increasing production of shale gas. The increasing demand for wastewater treatment on account of rising industrial and municipal waste is driving the global market growth. In addition, the growing health awareness among consumers is likely to escalate the demand for water-soluble polymers in the food industry. However, rapid adoption of bio-based acrylamide owing to sustainable development and stringent environmental regulations are expected to offer lucrative opportunity for the market players.

Regulatory and Pricing Analysis

Polyethylene glycol and polyacrylic acid are used as stabilizers in drug delivery systems. These polymers are regulated by the US Food and Drug Administration and European Medicines Agency (EMA) to ensure safe and effective environment in the medical industry.

The pricing of anionic polyacrylamide water-soluble polymer ranges from USD 2500 to USD 3000 per ton. The pricing of water-soluble polymers is increasing at faster rate due to the high demand in the end-use industries and fluctuating raw material prices.

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Segmentation

By Raw Material: By raw material, the global water-soluble polymer market has been categorized into synthetic, natural, and semi-synthetic.

Synthetic—The synthetic segment accounted for the largest share of the global water-soluble polymer market in 2018 and is expected to register moderate growth during the review period. Polymers obtained through condensation, addition or polymerization of petroleum or natural gas are called as synthetic water-soluble polymers. Additionally, synthetic water-soluble polymers are organic materials that help to modify the physical properties and act as intermediate in the process of making other water-soluble polymers.

Natural—Natural water-soluble polymers are gaining high importance owing to the environmental regulations on the use of synthetic polymers as well as physiological benefits and functional attributes. For instance, natural-based water-soluble polymers when used as dietary fibers tend to reduce cholesterol levels. They are used as stabilizer and thickening agent in yogurt and almond milk. The growing awareness regarding the benefits of natural ingredients or organic products in the food industry is likely to drive the market growth. Some of the natural water-soluble polymers are xanthan gum, guar gum, pectins, cellulose ethers, and chitosan derivatives.

Semi-Synthetic—To incorporate both natural and synthetic properties, semi-synthetic water-soluble polymers are produced. These polymers are used in surface coatings, pharmaceutical, and food industries.

By Type: Based on type, the water-soluble polymer market has been segmented into polyacrylamide and copolymers, guar gum & derivatives, casein, polyvinyl alcohol, gelatin, polyacrylic acid, and others.

Polyacrylamide and Copolymers—The polyacrylamide segment accounted for the largest share of the global water-soluble polymer market in 2018. These are synthetic polymers suitable as a soil conditioner and as a friction reducer in hydraulic fracturing. The major function of polyacrylamide is flocculant in the wastewater treatment and oil & gas industries. The increasing production of shale gas in countries such as China, the US, and Australia is expected to stimulate the growth of the market in the coming years. Polyacrylamide is also stable at various pH intervals and is non-toxic, widely used in a range of applications such as cosmetics and personal care products, pharmaceuticals, and pulp and paper. According to the US FDA, polyacrylamide with 0.2% acrylamide monomer is used as a film former in gelatin capsules.

Guar Gum and Derivatives—Guar gum is extracted from guar plant known as Cyamopsis tetragonoloba. India and Pakistan account for more than 80% of market in guar seed production. Guar gum are traded in two forms, namely powder and seeds. Owing to high viscosity and insoluble in solvent, they are excellent stabilizer, emulsifier and thickening agent in liquid formulations that are used in the food and beverage industry.

Polyvinyl alcohol—Polyvinyl alcohol (PVA) segment is expected to grow at a moderate CAGR during the review period. This is attributed to the growing demand for green packaging in biomedical, food, and pharmaceutical applications. They are also used in contact lenses, drug-delivery applications, and lining of artificial hearts.

Gelatin—The adoption of gelatin across food processing, cosmetic and pharmaceutical applications is increasing owing to advantages like high gel strength, viscosity, and melting temperature. They are also used as binders in bakery products, photographic films, and medicine emulsion. The growing demand for bakery products is likely to drive the market growth.

Polyacrylic Acid (PAA)—The segment accounted for significant market share in 2018. This is attributed to the growing demand for food additives, binders, adhesives, and emulsion paints. PAA increases the dry strength and dispersant action in ceramic applications. Furthermore, it is used in diapers, toothpaste, hair-styling products, and other personal care products. Changing lifestyles and rising disposable incomes are likely to drive the demand for household and personal care products and fuel the growth of the market.

Casein—Casein is an excellent dietary supplement usually obtained from egg whites, whey, or soybean. The growing awareness about health and nutrient ingredients is likely to drive the demand for casein as a protein source.

Others—The others segment covers polyvinyl pyrrolidone, polyethylene glycol, divinyl ether-maleic anhydride, and chitosan derivatives. Although the others segment accounted for the least market share in 2018, the growing popularity of water-soluble polymers in a wide range of applications is likely to propel the growth of the segment at a healthy CAGR in the coming years.

By Application: The water-soluble polymers are widely used in applications such as wastewater treatment, cosmetics and personal care products, oil & gas, food, pulp and paper, pharmaceuticals, and others.

Growing regulations on the disposal of municipal and industrial waste in water bodies are driving the demand for water-soluble polymers. Moreover, the increasing pressure on the industry to improve water quality is expected to drive the demand for water-soluble polymers.

On account of rising awareness about the adverse effects of synthetic ingredients and shifting preference for cosmetic formulations based on natural or organic ingredients are likely to drive the growth of the water-soluble polymers market.

Water-soluble polymers are often used in oil and well drilling fluids that include flocculant of the drilled solids, fluid-loss reducer, and wellbore stabilizer. Some of the polymer types used in different phases are guar, xanthan, cellulose derivatives, polyacrylamides, and other synthetic polymers. Moreover, increasing drilling and completion activities in the UK, China, Mexico, Australia, and Brazil are expected to fuel the product demand.

The growth of the food industry across the globe is a key driver of the water-soluble polymer market. The global food production is expected to reach USD 20 trillion by 2030 which is expected to increase due to growing population, high demand for functional food, and increasing investments in online delivery food partners.

Water-soluble polymers are often used in the pharmaceutical and biomedical industries. These polymers are used to control drug delivery and replacing the parts of failing organs. In addition, they are used in filler retention and formation aids owing to high affinity toward mechanical pulps.

By Region

North America: The market growth is driven by the presence of a large industrial base with expanding industries such as food and pharmaceutical and increasing shale gas production. Stringent regulations regarding wastewater treatment in the region are also driving the demand for water-soluble polymers in the region.

Europe: Growing demand for water-soluble polymers in the cosmetic and personal care industry is the key factor driving the regional market growth.

Asia-Pacific: The region is projected to be the fastest-growing regional market. High growth potential in countries such as China, India, Thailand, South Korea, and Malaysia is expected to propel the market growth during the review period. The increasing industrial output in China has put high pressure on several industries to reduce waste discharges in water bodies. For instance, China has invested around USD 87.5 billion in water treatment, thereby is expected to increase the demand for water-soluble polymers in industrial process.

Latin America: Rapidly growing industrialization in countries such as Brazil and Mexico are likely to drive regional market growth.

Middle East & Africa: Rising crude oil and natural gas production are positively influencing the market growth.

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Thermochromic Material Market Overview |Size, COVID-19 Impact, Share, Segment, Regional Analysis and Leading Players by Forecast to 2025

2020-09-03T05:49:13.499Z

Market Forecast

According to the MRFR analysis, the GLOBAL THERMOCHROMIC MATERIAL MARKET was valued at more than USD 1.2 billion in 2018 and is expected to reach over USD 2.2 Billion by the end of 2025 at a CAGR of 8.9%.

Thermochromic materials are mainly used as temperature indicators in the industrial sector to determine the temperature variation and reaction heat in the system. Thermochromic materials change reversibly their color by a temperature change. The global thermochromic materials market is segmented based on type, material, and end-use industry.

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Segmentation

By Type

Reversible: Reversible (those whose color reverts after the removal of heat and stress on them) segment accounted for more than 65% market share in 2018. Reversible thermochromic materials find applicability in many diverse fields such as packaging, textiles, and novelty items such as mood rings.
Irreversible: Irreversible (those whose color changes permanently at the application of stress and heat) thermochromic materials find application in critical processes, such as the machinery within industries as well as to indicate infringement upon branded items and to test the authenticity of banknotes as well as signify the expiration of medicines and certain food items.

By Material

Leuco dye is the largest market within the material segment largely due to its insolubility in water. The segment accounted for more than 30% market share in 2018. Leuco dye is applied extensively in imbuing textiles with thermochromic properties with practical uses, such as in tablecloths to effectively gauge heat, as well as novelty purposes.
Thermochromic pigments are used to imbue paints and other coatings with thermochromic properties and they are used in traffic signs, path markings, and control panels.
Liquid crystals with thermochromic properties are used to gauge stress and map heat in machinery as well as for colored displays.
Other segment includes polymers and inorganic materials with thermochromic properties.

By End Use Industry

Packaging is the largest segment and accounted for 38% share in 2018, the segment is expected to grow at highest CAGR during the forecast period. Smart packaging is increasingly relying on thermochromic materials to transmit significant information about the packaged product. It can be used to denote freshness of food items, the expiry of medication, the ideal heating required by foodstuffs and as a tamperproof seal to prevent infringement and act as a quality assurance for branded products.
Printing and coating is another prime application segment of thermochromic materials, usually by adding thermochromic pigments to inks and paints. These are also used to coat machinery in order to gauge critical levels of heat and stress, greatly enhancing safety. There is an increase in the demand for thermochromic materials within the textile industry.
Medical: Used to indicate the expiration of medicines, used in thermometers as well as for medical thermography.
Textile: One of the larger segments for this market, textiles are usually treated with leuco dyes for aesthetic purposes, as with articles of clothing, or as indicators of temperature in tablecloths and oven mitts.
Industrial: Industrial applications of thermochromic material are used to efficiently and easily gauge temperature changes, to understand heat flow and stress distribution. Irreversible thermochromic materials are used to signal critical overheating or critical stressing.
Others: This includes a variety of novelty applications including glow in the dark items as well as thermochromic paint jobs for vehicles.

By Region

North America is the largest market for thermochromic materials owing to its indispensability in ensuring industrial safety as well as for packaging, North America is also home to several of the top thermochromic material manufacturers. This region is driving the innovation within this market.
Europe accounted for5% share of the global market. Thermochromic materials are used in Europe for road markings, for safety purposes and as indicators in the food industry. Medical use of thermochromic materials is also high within this region.
Asia-Pacific is the fastest-growing region for thermochromic materials and accounted for the second-largest market share of around 29% in 2018, this region is the largest manufacturing hub in the world. Consequently, it uses thermochromic materials for packaging, textile as well as for industrial safety purposes. The large automobile industry also uses these materials in its control panels and indicators.
The Middle East & Africa and Latin America are small markets, these regions primarily use thermochromic materials for road mapping and as heat and stress indicators within its industries.

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Sulfur Hexafluoride Market | Size, Value Share, Latest Trend, Key Player Review, Business Prospect and Forecast to 2025

2020-09-03T05:48:11.539Z

Market Synopsis

According to MRFR analysis, SULFUR HEXAFLUORIDE MARKET was valued at USD 251 million in 2018 and is projected to register a CAGR of 6.1% during the forecast period, 2019–2025.

SF6 offers dielectric strength (it rapidly quenches electrical discharges), chemical stability during electrical operations, excellent thermal conductivity, and easy synthesis.

Pricing and Regulatory Analysis

In 2018, sulfur hexafluoride was priced between USD 5 and USD 10 per kg across the globe.

The United Nations Framework Convention on Climate Change (Kyoto Protocol, 1997) considers SF6 as a most potent greenhouse gas with high global warming potential.

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SEGMENTATION

By Grade

Standard Grade: The segment dominated the global sulfur hexafluoride market by value in 2018 owing to its vast usage in the power & energy sector for applications such as high-voltage circuit breakers, switchgear, gas-insulated switchgear (GIS), and others.

Electronics Grade: It is used in the manufacturing of particle accelerators, integrated circuits, and an etchant for chamber cleaning.

Ultra-high purity Grade: It is the purest form of sulfur hexafluoride with no contamination. It is majorly used in the manufacturing of semiconductors and in non-invasive medical surgeries that require zero contamination.

By Application

Power & Energy: The segment accounted for the largest share of the global sulfur hexafluoride market in 2018. The dielectric property of SF6 allows its use in the manufacturing of high-voltage circuit breakers, switchgear, gas-insulated switchgear (GIS), high voltage transformers, gas-insulated power substations, gas-insulated transmission lines, particles accelerators, and distribution voltage, which are utilized in the power & energy sector. The growth of the power & energy sector in developing economies is expected to augment the demand for sulfur hexafluoride and thus boosting the segment’s growth.

Electronics: SF6 is used in the manufacturing of electronic components such as semiconductors, integrated circuits, radar equipment, microwave antennas, and generators.

Medical: SF6 is used in non-invasive medical surgeries. It acts as a plug during retinal detachment surgeries; contrasting agent in ultrasound imaging; helps to determine & examine the exact location & cause of the ailment during the echocardiogram, and increases the visibility of blood vessels during ultrasound imaging. It is also employed to examine various medical conditions, such as tumors, uterine fibroids, and adenomyosis, among others.

Metal Manufacturing: SF6 is utilized in the foundry and metal casting of magnesium and aluminum. It prevents the formation of harmful byproducts in magnesium casting as well as used as a degassing agent in aluminum casting. The gas reduces molten metal waste by preventing rapid oxidation of metals when they come in contact with the air. This helps the manufacturers to minimize their production costs, which is projected to drive the product demand in metal casting.

Window Glass: SF6 is utilized for insulating windows to reduce heat transfer and sound dampening.

Others: The other segment includes leak detection, shock absorbers, and tracer in monitoring air pollution.

By Region

North America and Europe: Stringent regulatory framework is affecting the growth of the product market in these regions.

Asia-Pacific: Most opportunistic market, owing to the flexible regulatory framework, large-scale SF6 production and thus availability at low cost, rapid industrialization, and low labor cost, among others.

Latin America and the Middle East & Africa: These regions held the least market shares of the total market. Moreover, it is expected to register positive growth in the coming years.

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Spandex Market | Size, Value Share, Latest Trend, Key Player Review, Business Prospect and Forecast to 2025

2020-09-03T05:47:11.060Z

Market Synopsis

According to MRFR analysis, the GLOBAL SPANDEX MARKET is expected to reach over USD 6.78 Billion by the end of 2025 at a CAGR of 7.1%.

Spandex is an elastomeric fiber that can be stretched up to 200% of its original shape. These fibers are known for their excellent strength, high stretchability, and better durability as compared to conventional synthetic fabrics. Owing to the aforementioned properties, spandex fibers are blended with other fabrics such as cotton, wool, and silk and are used in numerous clothing applications. Several garments such as Zenati suits, swimsuits, rowing suits, and exercise apparels are incorporated with spandex fibers on the account of its ability to regain the original shape after stretching.

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Pricing and Regulatory Analysis

The price of spandex in 2018 was valued at around USD 1.63–1.66 per meter.

Some of the stringent standards for textile analysis are the American Society for Testing and Materials- ASTM-D 3776-79; ASTM D 3885; ASTM D5035 – 06; ASTM D3787-89; International Organization for Standardization - ISO 2313:1972

SEGMENTATION

By Production Process

Solution dry-spinning Process: The solution dry spinning method is used to produce over 94.5% of the world's spandex fibers, thus accounted for the largest market share in 2018. The segment is expected to maintain its dominance during the forecast period on the account of its cost-effectiveness. Additionally, the dry spun fibers exhibit better elastic recovery than the wet spun fibers.
Solution Wet-Spinning Process: In this process, the spandex fibers are directly extruded in the liquid bath and are treated with finishing agents. The speed of the entire process depends upon the thickness of the fiber to be obtained and can be anywhere from 300–500 miles per minute.
Others: The segment includes extrusion and reaction spinning.

By Type

Four-way stretch type accounted for the largest market share in 2018 and is expected to register the highest CAGR during the forecast period. These stretch fabrics have better elasticity and can be extended in both the directions—crosswise and longwise—thus provide extreme mobility and stretchability to its wearer.

Two-way stretch type of fabrics is comfortable to wear but the percentage of stretch relatively less as compared to four-way stretch type fabrics. Additionally, the two-way stretch type fabrics on elongation fail to return in their original shape.

By Application

Technical Textile: The segment held the largest market in 2018 and is expected to showcase robust growth in the coming years. This is largely attributed to the increased demand for durable, lightweight and highly stretchable fabrics for a variety of garments such as cycling shorts, swimsuits, haptic suits, rowing unsuits, and triathlon suits. In addition, the increasing use of spandex fibers on the account of its exceptional stretch and recovery properties in automobiles is further driving the market growth.
Home Textiles: The growth of the segment is attributed to the increasing demand for long-lasting, comfortable and skin-friendly fabrics for home furnishing applications. Spandex fibers are used in a variety of home furnishing textiles such as couch covers, sofas, stain-resistant cushions, and drapes.
Medical Textiles: The growth of the medical textiles segment is due to the increasing demand for spandex fabrics to fabricate compress stockings, stretchable bandages, surgical hoses, and baby and adult diapers.
Apparels: This segment includes leggings, belts, skinny jeans, hosiery, and casual wear.

By Region

Asia-Pacific accounted for the largest market share in 2018 and is expected to be the fastest-growing regional market on the account of the expanding textile industry. Additionally, the major players such as Hyosung, Asahi Kasei, Toyobo and Taekwang are further contributing the regional market growth.
North America: The market growth is primarily driven by the increased demand for medical textiles in the healthcare industry.
Europe: A firm market owing to the demand for consumers textiles such as sportswear, swimsuits and exercise apparels. Additionally, the increased demand of spandex fibers in automobile applications is further driving the regional market growth.
Latin America: Growing healthcare industry coupled with rising disposable income among the consumers is fueling the demand for spandex in Latin America.
Middle East & Africa: The growing number of healthcare facilities in the region is contributing to regional market growth.

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Solvent Market Overview |Size, COVID-19 Impact, Share, Segment, Regional Analysis and Leading Players by Forecast to 2025

2020-09-03T05:46:23.552Z

Market Synopsis

According to the MRFR analysis, the SOLVENTS MARKET is expected to reach a value of USD 48 Million in 2025, registering a CAGR of 4.0% during the forecast period.

Solvents are the chemicals capable of dissolving other substances without chemical changes. Solvents are widely used in paints and coatings, varnishes, adhesives, sealants, printing inks, cosmetics, and pharmaceutical applications. The increasing demand for paints and coatings, printing inks and cosmetics is likely to augment the growth of the global solvents market. Furthermore, one of the key trends observed in the market is shifting preference towards bio-based solvents driven by stringent regulations and increasing environmental regulations.

Pricing and Regulatory Analysis

The price of solvents varies according to type and source. The bio-based solvents generally have a higher cost compared with petroleum-based solvents owing to high feedstock cost and complex manufacturing process. The average price for solvents varies form USD 200 per ton to USD 800 per ton.

The global solvents market faces stringent regulations owing to high VOC emissions and environmental concerns. In Europe, the emission of Volatile Organic Compounds from Solvents is regulated by the European Union - S.I. No. 565 of 2012. Further, activities using more than 10 tons per annum of solvents need an Integrated Pollution Prevention & Control (IPPC) license from the EPA. In the US, the standards for solvent use are regulated by the National Emission Standards for Hazardous Air Pollutants (NESHAP), New Source Performance Standards (NSPS), Control Techniques Guidelines (CTG), and National Volatile Organic Compound Emission Standards – 183(e) VOC Rule.

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SEGMENTATION

By Type

Alcohols: The alcohol segment accounted for a dominant share of the global solvents market. The segment is expected to witness significant growth during the forecast period. The growth is attributed to its low toxicity and high demand in the paints & coatings, pharmaceuticals, cosmetics, and personal care industries.

Ketones: Ketones are utilized as solvents in the paint & coatings and adhesives industries. Ketone-based solvents include acetone, methyl ethyl ketone (MEK), methyl isobutyl ketone (MIBK), and diisobutyl ketone (DIBK). Acetone is the most common ketone solvent used in various industrial solvents owing to its low surface tension, density, slower evaporation rate, and high boiling point.

Esters: The increasing adoption of bio-based solvents is expected to favor the demand for esters in the production of lacquers, paints, and coatings.

Glycol Ethers: Glycol ethers are solvents based on ethylene glycol, propylene glycol, and butyl glycol ethers and are most commonly used in paints and cleaners. The glycol ethers segment is expected to witness moderate growth during the forecast period driven by increasing demand in-home and institutional care, and cosmetics industries.

Halogenated Solvents: Halogenated solvents are used in the cleaning, printing inks, textile, paints, and furniture industries. However, the health and environmental risks restrict the use of halogenated solvents.

Aromatic: These solvents are used in the manufacturing of industrial paints, resins, adhesives, and detergents.

Aliphatic: Aliphatic solvents are widely used in paints and coatings, degreasing, oil extraction, and rubber manufacturing.

Others

By Source

Petrochemical-based: The petrochemical-based solvents dominated the global solvents market in 2018. The demand for petrochemical-based solvents is mainly driven by the growth of paints & coatings industry. In 2018, the paints & coatings industry was valued at USD ~142 Billion and is forecasted to grow at a CAGR of 5% between 2019 and 2025, thereby boosting the demand for petrochemical-based solvents in the market.

Bio-Based Solvents: The segment is expected to witness high growth during the forecast period. This growth is attributed to increasing environmental concerns and stringent regulations.

By Application

Paints & Coatings: The segment accounted for the largest share of the global market in 2018 and is expected to witness healthy growth during the forecast period. The growth of the segment is attributed to the increasing demand in the construction and automotive industries.

Pharmaceuticals: The segment is expected to grow at a significant rate during the forecast period. The growth is supported by increasing healthcare spending and increasing investments in the pharmaceutical industry, particularly in Asia-pacific and North America. According to the World Health Organization, in 2016, the global spending on healthcare was USD 7.5 trillion and average per capita health expenditure was USD 1,000.

Polymer: Solvents are widely used in the processing and manufacturing of various polymers. The increasing demand for polymers in the food & beverage, packaging, automotive, and construction industries is expected to drive the growth of the segment during the forecast period.

Agrochemicals: The growing demand for fertilizers and pesticides to increase crop yield is projected to drive the demand for solvents in the agrochemicals segment.

Printing Inks: The growing demand for wide spectrum of printing across the publishing and packaging industry is driving the demand for various solvents in ink manufacturing.

Cleaners: The increasing demand for cleaners in the healthcare and food & beverage industries and domestic applications is expected to propel the demand for solvents during the forecast period.

Cosmetics & Personal Care: With increasing disposable income, changing lifestyles, and rapid urbanization, the cosmetic & personal care industry is witnessing robust growth. This is expected to be the major factor increasing the demand for solvents.

Adhesives & Sealants: The adhesives and sealants industry across the globe was valued at USD 56 million in 2018. The industry is expected to witness significant growth driven by increasing demand in the construction, automotive, hygiene, and packaging industries. This, in turn, is expected to drive the growth of the global solvents market.

Others: The other segment is expected to witness moderate growth during the forecast period.

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Protective Coatings Market Overview |Size, COVID-19 Impact, Share, Segment, Regional Analysis and Leading Players by Forecast to 2025

2020-09-03T05:45:40.100Z

Market Synopsis

According to the MRFR analysis, the GLOBAL PROTECTIVE COATINGS MARKET was valued at more than USD 17.22 billion in 2018 and is expected to reach over USD 24.55 billion by the end of 2025 at a CAGR of 5.2%.

A protective coating is a barrier of paint or powder coatings that are applied on a material surface to prohibit corrosion thus, helps in making the metal inert from environmental changes. Protective coatings are important as they help to extend the lifetime of the substrate. Protective coatings can act as a barrier, sacrificial surface or as an inhibitive to protect the underlying element from water, oxygen, chemicals to hinder corrosion.

Pricing and Regulatory Analysis

The stringent standards and regulations for coatings used in automotive, building & construction and oil & gas industries are likely to propel the growth of the global protective market during the assessment period. For instance, the National Association of Corrosion Engineers– RP0188, for ‘Testing of Protective Coatings’, European Federation of Corrosion– EFC 20, for ’Organic & Inorganic Coatings for Corrosion Prevention’, American National Standards Institute– ANSI Z535.1, for ‘ Safety Color Code’, the European Paints Directive 2004/42/EC, for ‘the maximum amount of VOCs content’.

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SEGMENTATION

By Material Type

Acrylic: The largest segment with a share of around 42% in 2018 and the segment is expected to register the highest CAGR of 40% during the forecast period. These are resistant to water, chemicals, corrosion, and exhibit excellent color retention. In 2017, acrylic paints and coating market was valued around USD 57.04 billion. Moreover, in the same year, 51.1% of global acrylic resin was consumed in the paints & coatings industry in Asia-Pacific, which was sized around 10,503 KT.
Epoxy: The second-largest segment of the global protective coating market, holding 22% share in 2018, due to its unique properties such as easy handling and are resistant toward chemical and temperature.
Polyurethane: Polyurethane resin are used as binders in protective coatings, owing to its properties such as durability, abrasion resistance, toughness, and high gloss polyurethane resins are majorly used in applications such as marine & aircraft coatings, oil field equipment coatings, and wood coating.
Alkyd: Held a significant share of the global protective coating market. As a result, the resin being resistant towards humidity and abrasion they are a good choice for cabinets & furniture, kitchens, and bathrooms.
Polyester: Resins are UV-resistant and water permeable are mainly used as decorative coatings for ceramics, metals, and glass.
Others: The segment includes fluoropolymer and polyether ether ketone

By Product Type

Solvent-borne: The segment held the largest share of the Global Protective Coating Market in 2018, owing to its excellent resistance to corrosion. They are used as protective coatings, especially in the building & construction industry, however, the regulations for usage of VOCs in paints and coatings are expected to hinder the market growth.
Water-borne: It is expected to be the most opportunistic segment during the forecast period, as these coatings have low VOC content thus, making them a sustainable product and increasing their demand. However, these coatings are more susceptible to environmental changes such as temperature and humidity, compared to solvent-borne, which deems to hinder the segment’s growth.
Powder-based: Powder-based protective coatings are usually applied as a decorative and protective finish in metals owing to them being more resistant to fading, wearing, and scratching than other finishes. Power protective coatings are usually applied by spraying onto the surface of the substrate.

By End-Use Industry

Building & Construction: Held the largest market share of over 70% in 2018 and is expected to follow the same trend during the forecast period. They are mainly used in the architectural segment, as rust-resistant coatings in residential and non-residential purposes for coating metals, floors, woods, walls, and others. In 2017, the architectural segment, in paints & coatings was valued at around USD 78 billion.
Automotive: The segment held the second-largest share of the global protective coatings market, owing to their need in automobiles to protect the surface from abrasion, scratches, temperature changes, and water.
Oil & Gas: Owing to the constant contact of offshore machinery with seawater and prolonged exposure to UV rays leads to the need of protective coatings like non-skid coatings on decks, fire and heat resistant coating, and high-visibility colors, which thereby is expected to boost the market growth.
Aerospace & Defense: Uses protective coatings to prevent corrosion on the material surface at high altitudes due to changing environmental conditions such as humidity and temperature.
Power Generation: Require high-temperature resistant coating in cooling towers and turbines.
Marine: Water and chemical resistant coatings are required to prevent corrosion of ships and submarines surfaces.
Others: The segment includes energy and mining.

By Region

North America: Market growth is driven by the demand for aluminum protective coatings in aerospace, automotive, and marine industries.
Europe: Driven by the presence of global leaders of the oil & gas and automotive industry.
Asia-Pacific: The largest and most opportunistic market.
Latin America: Increase in the number of assembling plants for automobiles.
Middle East & Africa: Strong base oil & gas industry and rising construction activities

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Plastics Market Research Report - Forecast to 2025

2020-09-03T05:44:34.599Z

Market Synopsis

According to the MRFR analysis, the GLOBAL PLASTICS MARKET was valued at USD 545.2 billion in 2018 and is expected to reach over USD 791.2 Billion by the end of 2025 at a CAGR of 4.3%.

The plastics is one of the most evolving markets in the past few years. Plastic products are used in various industries such as automotive & transportation, building & construction, consumer appliances, electrical & electronics, packaging, and medical. The increasing demand for reinforced plastics is projected to drive the growth of the global plastics market during the forecast period. Moreover, biodegradable plastics are also gaining popularity in various industries since they are all sourced from plants and vegetable extracts. The biodegradable plastics market is projected to value more than USD 6.5 billion by 2025.

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Opportunity Analysis

The automotive industry is one of the major consumers of plastics. Therefore, the change in the plastic material selection can have major implications on the demand for plastic and financial performance of plastic manufacturers. At present, approximately one-third of the parts used in automobiles are made of plastics. Moreover, more than 35 types of plastic materials are used in the manufacturing of automobile parts and more than 70% of the plastic materials are polyurethane, polyamides, polypropylene, and PVC.

The emergence and rapid expansion of the electric vehicles segment are projected to play a major role while considering the market outlook of the automotive industry. While the overall production of electrical vehicles remains at low on the global level, electrification of vehicle fleet has gained massive momentum in the past few years. Despite robust growth of the electric vehicles segment across the world, internal combustion engine based automotive is projected to acquire largest proportion of the vehicle fleet.

SEGMENTATION

By Type

Polypropylene (PP): The polypropylene (PP) product segment held the second-largest market share in 2018. The growing preference for PP products as an alternative to other traditional materials such as metals is projected to fuel the product demand over the forecast period.

Polyethylene Terephthalate (PET): The PET product segment is projected to witness significant market growth in the global market owing to the rising demand in the food & beverage industry and easy recycling of PET products.

By Application

Packaging: The increasing demand for packaging in various industries such as healthcare, food & beverage, cosmetics, personal care, and electronics is expected to propel the growth of the plastics market during the forecast period.
Automotive & Transportation: Stringent regulations pertaining to carbon emissions and increasing need to reduce the weight of the vehicle to enhance the vehicle efficiency are expected to fuel the demand for plastic materials over the forecast period.
Building & Construction: The infrastructure development in emerging countries such as China, India, Brazil, and South-East Asia is driving the demand for plastic in the construction industry.

By Region

North America: The growth is driven by the well-established automotive industry.

Europe: The market is projected to witness steady growth.

Asia-Pacific: The largest and fastest-growing regional market.

Latin America: A small but growing automotive industry in Brazil, Mexico, and Argentina will drive the plastics market growth.

Middle East & Africa: Ready supply of raw materials is exhibiting high growth opportunities in the region.

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Gum Rosin Market | Size, Value Share, Latest Trend, Key Player Review, Business Prospect and Forecast to 2025

2020-09-03T05:43:33.908Z

Market Synopsis

According to the MRFR analysis, the GLOBAL GUM ROSIN MARKET was valued at USD 2.42 billion in 2018 is expected to register a CAGR of 4.16% during the forecast period.

Gum rosin is obtained from coniferous plant species and widely used as an alternative for synthetic petroleum resin. Due to the high adhesion property, it is used as a prime ingredient to produce a wide range of adhesives including hot melt, pressure-sensitive, and solvent adhesives. This is likely to boost the global market growth. Additionally, various gum rosin applications include paints, sealant wax, printing inks and labels, which is further expected to drive the global market growth. However, the presence of readily available petroleum resin substitutes is likely to pose a limitation to the growth of the gum rosin market during the forecast period.

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Pricing and Standards

The price of gum rosin is expected to showcase a hike in during the forecast period. In 2018, the product was priced around USD 1900–2200 per ton across the globe.

Some of the standards for testing rosin are:

American Society for Testing and Materials: ASTM D509-70 for “Standard Methods of Sampling and Grading Rosin”
American Society for Testing and Materials: ASTM D465-82 for “Standard Test of Methods for Acid Number of Rosin”
Indian Standard: IS 553: 1984 for “Specification for Rosin (Gum Rosin)”

SEGMENTATION

By Grade

WW: The segment accounted for the largest gum rosin market share in 2018 and is expected to be the fastest-growing segment during the forecast period. The WW rosin is light yellow color rosin and is mainly used to produce rubber adhesives and hot melt adhesives. Additionally, this rosin is also used as a glazing agent in medicines and chewing gums.

WG: WG gum rosin is deep yellow in color with a softening point of 75 degree Celsius. This gum rosin grade can be used in various cosmetic applications including hair removal creams, soaps, and lip balms.

K: Primarily used in chemical compounds mainly paints and printing inks.

X: X grade gum rosin is used in bookbinding, tapes and labels and other contact adhesives.

Others: The other segment includes N and M grades.

By End-Use Industry

Adhesives & Sealants: The largest segment in 2018 owing to the high demand for gum rosin and derivatives mainly triethylene glycol esters of rosin in adhesives and sealant waxes. The gum rosins enhance the tackiness and strength of the adhesive, thus augmenting the demand for gum rosin in the adhesives & sealants industry. The segment is expected to showcase robust growth in the coming years owing to increasing product usage in the wide variety of adhesives, namely solvent adhesives, water-based adhesives, hot melt adhesives, pressure sensitive adhesives, and floor coating adhesives, which are then used in tapes, labels, and bookbinding applications.

Rubber: The growth of the rubber segment is due to the increasing use of gum rosin as a filler to make the rubber easy for kneading and improve its softness. Additionally, gum rosin when blended with natural rubber improves the cohesion and enhances the endurance to both heat and abrasion by 25%.

Paints & Coatings: The growth of the segment is attributed to the increasing demand for thermoplastic rosin in the production of water-based paints and primer coatings to provide better adhesion and high corrosion resistance. On an average, the gum rosin consumption rate in paint production is 8–10%. Additionally, gum rosin is also used in the production of road paints which are applied as road surface markings on safety zone, boundary, and crosswalk.

Printing Inks: Gum rosin is mainly used in printing inks to ensure proper adhesion of the letters and printed images on the surface.

Food & Beverage: Hydrogenated rosins along with natural chicle, flavor, sugar, and pigment is used in chewing gum formulations. In addition, rosin is also used as an emulsifier in soft drinks.

Others: The segment includes construction, packaging, pharmaceutical, and personal care & cosmetics industries.

By Region

Asia-Pacific: It accounted for the largest share in 2018 and is projected to be the fastest-growing regional market owing to the rapidly growing industrialization in the region. China is the leading country-level market on account of the growing demand for gum rosin in industrial applications such as paints, electric cables, and inks.

North America: The increasing demand for gum rosin for multifarious applications including adhesives and as a concrete frothing agent in rising constructional activities is expected to fuel the growth of the regional market.

Europe: The market is expected to witness significant growth during the forecast period owing to the radical consumer shift towards renewable and eco-friendly products.

Latin America: The regional market is witnessing sluggish growth; however, the rising industrialization is expected to fuel the demand for gum rosin during the review period.

Middle East & Africa: The increasing constructional & infrastructural activities on account of the growing tourism is majorly contributing to the regional market growth.

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Geotextiles Market Research Report - Forecast to 2025

2020-09-03T05:42:23.433Z

Market Synopsis

According to MRFR the analysis, the GLOBAL GEOTEXTILE MARKET was valued at more than USD 5 billion in 2018 and is expected to reach over USD 10 Billion by the end of 2025 at a CAGR of 10.8%.

Geotextiles are permeable textile materials and are among the most widely used geosynthetic materials for filtration, separation, drainage, reinforcement, and stabilization purposes. The key raw materials used include polypropylene and polyester (synthetic fibers) and natural fibers (jute, flax, sisal). Geotextiles are ideal materials in the construction of roads, landfills, harbors, dams, drainage structures, and other civil projects. Mechanical responses, high impact strength, scour and erosion protection, resistant to extreme wave action, and chemical resistance are some of the key characteristics exhibited by geotextiles, owing to which they are widely used in the aforementioned applications. The increasing demand for geotextiles in the construction of roadways and growing infrastructure developments across the globe are expected to be the primary drivers of the global market growth.

Pricing Analysis

In 2018, the price of geotextile varied from USD 0.75 to 1.6 per square meter, which is witnessing an upward trend. In 2019, the price has slightly declined owing to the decline in price of polypropylene. These fluctuating prices of polypropylene and other polymers are expected to affect the prices of geotextiles during the forecast period.

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SEGMENTATION

By Material

Synthetic Fibers: The synthetic fibers segment accounted for a market share of over 85% of the global market in 2018. The synthetic fibers segment is further divided into polypropylene, polyester, polyamide, and others. Polypropylene is the most widely used polymer in the manufacturing of geotextiles owing to its high tensile strength, low cost, ease of availability, and chemical inertness. It has low density, which results in a very low cost per unit volume.

Natural Fibers: The natural fiber-based geotextiles are bio-degradable and are gaining popularity in the global market on account of their eco-profile and are ecologically compatible. Natural fibers such as jute, hemp, and coir are generally applicable in temporary reinforcements and erosion-control uses of geotextiles.

By Product Type

Non-Woven: Non-woven geotextiles provide the best combination of the three functions (filtration, drainage, and reinforcement) and are hence used in the major applications including subsurface drainage, roadway separation, railroad stabilization, leachate management in landfill cells, and subsurface retention/detention systems. The increasing construction activities and growing use of geotextiles in the erosion control sector are expected to propel the market growth.
Woven: Woven geotextiles exhibit high tensile strength at low elongation (high tensile modulus) and help reduce rutting and extend the life of paved and unpaved roadways. Additionally, woven geotextiles are effective in controlling sediment runoff on construction sites, owing to which are gaining popularity in the global market. The increasing roadbuilding and embankment construction activities are expected to fuel the demand for woven geotextiles in the coming years.
Knitted: The segment held the least share of the global market in 2018. However, knitted geotextiles offer some advantages over woven geotextile, including exceptional tear strength, can incorporate an additional fabric to form a true composite geotextile, and are light in weight.
Others

By End-Use

Transportation: The largest and the fastest-growing end-use segment. The expanding construction industry and increasing investments by governments in the emerging economies (India, China, Indonesia, and GCC, among others) for infrastructure development are expected to fuel the growth of the segment during the forecast period. The major investments such as announcement of USD 63.20 billion by the Indian Government for infrastructure development and a total expected investment of around USD 220 billion by the Chinese government for 27 major infrastructure projects are expected to boost the construction of roads and other transportation facilities in the region. Furthermore, initiation of various airport construction projects in the US, Brazil, Mexico, India, and China, are further expected to boost the demand for geotextiles in the construction of road pavement in these airports.
Environment: The stringent regulations pertaining to water pollution across the globe and growing need for construction of drainage systems and waste containment are among the major factors driving the growth of the segment. Moreover, the increasing demand for geotextiles in the erosion control sector is further expected to drive the market growth.
Energy & Water Resources: Rising need for efficient water storage water storages due to the global water crisis, is driving the demand for geotextiles in the construction of canals, dams and reservoirs, and irrigation channels. Increasing construction of dams for generating hydroelectricity is further expected to boost the demand for geotextiles in this application during the forecast period.
Building Site Infrastructure
Agriculture
Others

By Region

North America: Market growth is driven by the demand for reducing pollution of water resources by use of geotextiles in erosion and slope stabilization in oil fields.

Europe: A well-established market.

Asia-Pacific: The largest and fastest-growing regional market.

Latin America: A small regional market yet is projected to register healthy growth considering the upcoming airport construction projects, which is likely to fuel the demand for geotextiles in Latin America.

Middle East & Africa: Expanding construction sector in UAE and Saudi Arabia owing to which it is one of the fastest-growing regional market.

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