Global Market Analysis Report of Chemicals and Materials Industry

Thursday, 2 April 2020

Rising Demand for Treated Water to Shoot Up Global Biocides Market Revenue till 2024

The worldwide biocides market is predicted to reach 1,376.6 kiloton sales by 2024, from its recorded sales of 1,062.3 kilotons in 2018, registering a CAGR of 4.4% during 2019–2024 (forecast period). This rapid expansionin the market can be attributed to the increasing usage of biocidal products inwater treatment processes andpreservation of petrochemical products, wood, paints, and coatings. One of the key application areas of biocidal products is water treatment, in which they are widely used for maintaining the microbiological quality of water.

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The major trend in the global biocides market is the introduction of stringent laws and regulations for biocides and biocide-based products, by various regulatory bodies and government departments across the world. For instance, the European Union (EU) and United States Food and Drug Administration (FDA) have issued regulations and guidelines in order to control the use of biocides and their active ingredients. This has increased the supervision oncertain biocidal products as well as resulted in the imposition of bans on some of these, owing to their cancer-causing nature.

In order to keep up with the standards set by the FDA and EU, the regulatory bodies in India, Vietnam, and South Korea have implemented laws, which have outlined strict regulations for a number of biocidal products. For instance, the Ministry of Environment (MoE) ofSouth Korea passed the Consumer Chemical Products and Biocides Safety Act, in January 2019. This act, also known as K-BPR, includes biocidal active substrates, consumer chemical products, biocidal products, and biocide-treated articles, under itsambitof the monitored products.

The increasing demand for water disinfection, owing to the rising pollution and water-borne contamination, is projected to drive the tremendous growth of the biocides market during the forecast period. The rising requirement for various biocidal products in various stages of water supply, such as production, transportation, and storage, due to their anti-fouling and pathogen-eliminating characteristics, ensure their heavy usage. Additionally, the usefulness of such products in maintaining the microbiological quality of water at an acceptable level will increase their demand in the coming years.

On the basis of type, the biocides market is divided into metallic, organosulfur, organic acid, halogenated, phenolic, nitrogenous, and other products, which include inorganic acids, ozone, alcohols, and aldehydes. Out of these, halogenated biocides, on account of their high demand as disinfectants, for water treatment, held more than 35.0% market share in 2018. The rapidly rising demand for halogenated biocidal products will lead the market to prosperity in the coming years.

Depending on application, the biocides market is divided into water treatment, human hygiene, preservation, household, industrial, and institutional (HI&I) cleaning, and others, which include agriculture and aquaculture. Amongst these, the water treatment application, owing to the growing demand for treated water for residential and industrial applications, records the highest usage of biocidal products. As a result of this,the water treatment division held the largest share, of almost 45.0%, in 2018.

On a regional basis,the Asia-Pacific (APAC) region is predicted to witness the fastest progressduring the forecast period. The main factor that will contribute toward this is the increasing demand for treated water in India, China, and Southeast Asian countries, for industrial and residential purposes. Due to a surge in the industrial capacities of these countries, as a result of the population boom, the demand for biocidal products is going to shoot up considerably in the region.

Therefore, on account of the growing need for treated water for a plethora of applications, in various countries across the world, the market will grow significantly in future.

Manish Baghel 0

Tuesday, 31 March 2020

Paints and Coatings Market size 23:58

How is Nanotechnology Fuelling Surge in Global Paints and Coatings Market?

The rapid growth of the construction industry in countries such as India, China, the U.K., and the U.S., due to the soaring population and increasing number of overseas buyers, and the resultant boom in large-scale investments for the construction of residential apartments, retail centers, hotels, and civic infrastructure, have resulted in a huge demand for paints and coatings. For instance, construction activities in China and Europe increased by 10.0% and 3.5% in the past few years, which, in turn, fuelled the demand for such construction materials.

Paints and coatings are widely used throughout the world in decorative and numerous other kinds of activities. This is mainly due to the fact that a paint or a coating easily converts into a solid film, after being applied as a thin layer on a substrate. The global paints and coatings market is expected to attain a value of $262.5 billion by 2023, which would be a significant raise from the $186.7 billion revenue it saw in 2017. The market is predicted to register stable growth during the forecast period (2018–2023), with a CAGR of 6.0%.

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The emergence of nanotechnology is one of the biggest factors contributing toward the rising demand for paints and coatings across the globe. Owing to their many superior characteristics, such as water and rust resistance, high flexibility, corrosion resistance, longevity, and ultraviolet (UV) ray resistance, companies are now focusing more on using nano paints and coatings for manufacturing and construction activities. The other major factors propelling the demand for paints and coatings are the expanding automotive industry and increasing consumption of these materials in the oil and gas industry.

Paints and coatings are widely used in architectural and decorative, marine, and industrial applications. Out of these, the highest amount of these materials was consumed for architectural and decorative purposes in 2017. This is attributed to the rising requirement for paint and coating solutions in the construction of residential buildings, which has increased significantly due to the surge in the global population. According to the Global Construction 2030 report by PwC, the worldwide construction industry would grow by 85% to reach $15.5 trillion by 2030, thus creating a consistent requirement for paints and coatings.

Smart coatings are finding wide application in the aerospace sector, owing to their ability to be used as composites for the construction of aircrafts and hide the damage caused by the jet engine. Additionally, they are being increasingly used in various commercial applications, such as in the renovation of historical structures, therefore are witnessing a rising demand around the world. In simple terms, smart coatings refer to those materials that have the ability to change their characteristics according to the stimuli received from the environment, such as temperature and electric field.

Globally, the paints and coatings market was observed to be the largest in APAC during 2013–2017. This is primarily ascribed to the ballooning renovation and repair activities for residential and commercial buildings, shopping malls, and schools in the region. Moreover, the increase in both government and foreign investments the region is boosting the demand for paints and coatings. According to the India Brand Equity Foundation (IBEF), investors from overseas are showing a growing interest in construction activities in India, which is catapulting the demand for paints and coatings.

Therefore, the consumption of paints and coatings, on account of the flourishing construction sector due to the increasing infrastructure development across the world, is set to consistently grow in the coming years.

Manish Baghel 0

3D Printing Materials Market size 06:36

How is Growth of Automotive Industry Driving 3D Printing Materials Market?

The automotive industry is growing at a considerable pace, particularly in countries including Indonesia, China, Brazil, and India, because of the rising demand for vehicles. For example, in 2017, India and China became the world’s two largest automotive markets and reached 4.02 million units and 29.12 million units, respectively. Moreover, 3D printing is becoming the popular option in the automotive sector for designing parts which have complex geometries and are difficult to produce by utilizing conventional methods. 3D printed components are further light in weight and consume less energy during their production. This rising adoption of 3D printing in the automotive industry is resulting in the growing requirement for 3D printing materials.

According to a P&S Intelligence report, the global 3D printing materials market attained a value of $558.4 million in 2017 and is expected to generate a revenue of $1,365.6 million in 2023, advancing at a 16.7% CAGR during the forecast period (2018–2023). Plastics, metals, and ceramics are majorly utilized 3D printing materials. Among these, the largest demand in 2017 was created for metal, which is further projected to register the fastest growth in demand during the forecast period. This is primarily because metallic 3D printing materials have a higher cost than ceramic and plastic 3D printing materials.

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Several industries make use of 3D printing materials such as consumer goods, aerospace & defense, automotive, and medical & dental. Among all these, the aerospace & defense industry created the largest demand for 3D printing materials in the past and is further predicted to make the most use of these materials during the forecast period. The major reason for this is the utilization of titanium as a 3D printing material in the 3D printing of prototypes or parts. Titanium is important for aerospace & defense applications and is one of the most expensive materials utilized in such manufacturing processes.

When geographical scenario is taken into consideration, North America made the most use of 3D printing materials during 2013–2017 and is projected to create the largest demand for these materials during the forecast period as well. This is ascribed to the presence of established players and increasing adoption of the 3D printing technology for product manufacturing and mass customization in the region. The fastest growth in demand for 3D printing materials is expected to be registered by the Asia-Pacific region in the coming years. This is due to the increasing research & development funding and supportive government policies. China is predicted to witness the highest growth in demand for these materials in the near future.

A key trend being observed in the 3D printing materials market is the rising adoption of 3D printing technology in the education sector. The utilization of 3D printing in the education sector is aiding the students to think conceptually and turn their ideas in physical form for better understanding. The technology is enabling students to design basic 3D shapes on electronic devices such as tablets and explore new ideas. Apart from this, 3D printing is enhancing the quality of education in mathematics, engineering, science, and technology domains at the university level.

Manish Baghel 0

Friday, 27 March 2020

High Temperature Elastomers Market size 04:49

How is Increasing Vehicle Production Driving High Temperature Elastomers Market?

The vehicle production around the world is increasing primarily due to the rising disposable income of people. As per the European Automobile Manufacturers Association, over 80 million passenger cars were produced across the globe in 2017. Furthermore, approximately 18.4 million commercial vehicles were manufactured in 2016 globally. The automotive industry in regions including Latin America and Asia-Pacific is particularly witnessing significant growth. This rising production of vehicles is generating increasing demand for high temperature elastomers, as they are preferred for dampers, gaskets, hoses, boots, and seats, which in turn, is attributed to their flexibility and resistivity to heat and automotive lubricants.

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Synthetic and natural polymers which possess elastic properties are referred to as elastomers. High temperature elastomers are polymers that are made from long chain of atoms possessing elastic property and have the ability to withstand high range of temperatures. According to a report by P&S Intelligence, in 2017, the global high temperature elastomers market generated a revenue of $9,9991.7 million and is projected to attain a value of $14,951.4 million in 2023, witnessing a 7.0% CAGR during the forecast period (2018–2023). Geographically, Asia-Pacific created the largest demand for high temperature elastomers during 2013–2017 due to the rising construction activities, swift economic growth, and presence of large number of electric and electronics manufacturing companies.

The rising investment for the development of advanced elastomers is a key trend in the high temperature elastomers market. Different companies in the domain have started investing in research & development activities foe expanding their application areas and targeting new industries. In addition to this, the rising requirement for new and advanced polymers with unique properties are further resulting in increasing investments by the manufacturers. There is a growing need for improving the control of molecular structure, formulating existing polymer types, and copolymerization. Attributed to this, the manufacturers are focusing on new polymerization techniques and catalysts for controlling tacticity, molar mass distribution, molar mass, and comonomer composition.

High Temperature Elastomers Market Competitive Landscape

Some of the major players operating in the global high temperature elastomers market are Dow Corning Corporation, KCC Corporation, Solvay S.A., Momentive Performance Materials Inc., Wacker Chemie AG, 3M Company, Daikin Industries, Ltd., RTP Company, Shin-Etsu Chemical Co., Ltd., and The Chemours Company.

GLOBAL HIGH TEMPERATURE ELASTOMERS MARKET SEGMENTATION

By Type

Fluorocarbon
Perfluorocarbon
Silicone
Fluorosilicone
Others

By Application

Automobile and Transportation
Semiconductor and Electronics
Healthcare
Consumer Products
Industrial Machinery
Others

Manish Baghel 0