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Furfural Market Size to Rise at a Moderate CAGR of 5.5% from 2018 to 2026

The global furfural market was valued at US$ 416.97 Mn in 2017 and is anticipated to expand at a CAGR of 5.5% from 2018 to 2026, according to a new report titled ‘Furfural Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026’ published by Transparency Market Research (TMR). Rise in demand for furfuryl alcohol is driving the global furfural market. Asia Pacific accounts for major share of the global furfural market, led by the increase in usage of furfural in the manufacture of furfuryl alcohol in the region.

Substitution of Fossil Fuel Resources with Renewable Alternatives

Increase in concerns about the adverse effects of fossil resources has led to the need for replacement of these fuels with renewable alternatives. Of late, furfural has gained renewed attention as a potential platform for the production of biofuels and biochemicals. U.S. Department of Energy selected furfural as one of the top 30 platform chemicals that can be derived from biomass. Furfural possesses attractive thermosetting properties such as physical strength and corrosion resistance. Furfural is mainly manufactured from biomass. Furfural is less costly and abundantly available. The yield and production of furfural and its derivatives need to improve significantly for the chemical to compete with petroleum-based products. Companies have developed a new technology to produce furfural. This has led to better yield and lower steam consumption vis-à-vis the traditional process. The technology is anticipated to gain wide acceptance in the market in the near future. This is estimated to lower the cost of furfural in the next few years.

Rise in Demand for Furfuryl Alcohol

Furfuryl alcohol is a commonly derived chemical from furfural. It accounts for almost 80% of the total consumption of furfural. Furfuryl alcohol is the major ingredient in furan foundry binders. This reactive alcohol plays a vital role in the production of foundry sand binders. It has been extensively used to produce cores and molds for metal casting since more than 40 years. Large portion of furfuryl alcohol is purchased by foundry binder suppliers. The chemical possesses properties such as low viscosity, high reactivity, and excellent solvent characteristics. This has boosted its usage in other fields. Furfuryl alcohol is employed in the production of abrasive wheels and adhesives based on urea–formaldehyde resins due to its wetting-dispersant property. It is also used in the production of tetrahydrofurfuryl alcohol (THFA), which is employed as a solvent in the pharmaceutical industry. Furfuryl alcohol is primarily employed in the production of furan resins employed for foundry sand binders in the metal casting industry. Currently, furfuryl alcohol is used widely in binders for traditional furan no-bake systems. In smaller quantities, it is employed in furan hot-box, warm-box, and gas-hardened processes. In its key application, i.e. the foundry sector, furfuryl alcohol competes primarily with phenol, the feedstock for phenolic resins. Thus, increase in demand for furfuryl alcohol in foundry applications is boosting the furfural market.

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Inefficient Production Leading to Low Yield and High Product Price

Currently, furfural is commercially produced by any of the following major manufacturing processes: Quaker batch process, Chinese batch process, and Rosenlew continuous process. Modern commercial production processes are inefficient (25–35 t steam t−1 furfural) and also give low yield (<50 mol% of theoretical). The cost of running plants is high, as the yield from production processes is less than 50%. This results in high product price. The price of furfural needs to be low for it to achieve higher penetration in various end-user industries.

Production processes generate significant quantities of wastewater. This wastewater, which is contaminated with acetic acid and other organic compounds, is expensive to treat. Several China-based furfural plants are compelled to either treat their effluents or cease production.

Asia Pacific Dominates Global Furfural Market

In terms of demand, Asia Pacific is expected to hold dominant share of the furfural market during the forecast period. The furfural market in the region is anticipated to expand at a faster pace than that in other regions during the forecast period owing to the rise in consumption of furfural in foundry and chemical industries in the region. The furfural market in Middle East & Africa is anticipated to expand due to the rise in demand for furfural in the metal casting industry in the region. Latin America, especially Brazil, is projected to be an emerging region of the global furfural market during the forecast period. The market in Europe and North America is estimated to expand at a substantial pace during the forecast period due to the presence of well-established fertilizer and chemical manufacturing industries in these regions.

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Polyurethane (PU) Market Foreseen to Witness 7.2% CAGR During 2018 to 2026

The global polyurethane market was valued at US$ 40,063.0 Mn in 2017 and is anticipated to expand at a CAGR of 7.2% from 2018 to 2026, according to a new research report titled ‘Polyurethane Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global polyurethane market is driven by rise in the usage of polyurethane in various end-user industries such as bedding & furniture and building & construction.

Rise in Demand for Polyurethane in Bedding & Furniture Industry to Fuel Market

Polyurethane is used as a raw material in the manufacture of furniture. The bedding & furniture industry is a major consumer of polyurethane. Increase in the global population is boosting the demand for consumer products. This, in turn, is fueling the bedding & furniture market. Polyurethane is employed in the production of polyurethane coatings. These coatings possess high resistance to voltage fluctuations. This fuels the demand for polyurethane coatings in industries such as automotive and white goods & appliances.

Methylene Diphenyl Diisocyanate (MDI) a Preferable Raw Material for Production of Polyurethane

MDI is largely consumed in the manufacture of polyurethane, due to its high thermal insulation and flexibility. Additionally, MDI is the rapidly expanding raw material segment, as MDI is less hazardous to health in comparison to TDI.

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Rapid Growth of Automotive and Transportation Industries in Developing Economies of Asia Pacific Propelling the Demand for Polyurethane

Polyurethane is employed in the production of lightweight vehicles. Automotive and transportation industries in Asia Pacific are expanding at a rapid pace. This is propelling the demand for polyurethane in the region. Furthermore, the appliances & white goods industry in Asia Pacific and Latin America is expanding at a rapid pace. Polyurethane is used in coatings of electric wires, as it can bear voltage fluctuations. This is augmenting the demand for polyurethane in the appliances & white goods segment.

Flexible Foams Product Segment to Dominate Global Polyurethane Market

Based on product, the global polyurethane market has been segmented into coatings, adhesives & sealants, flexible foams, rigid foams, elastomers, and others (including monomers and resins). Flexible foams is expected to be a major product segment of the global market during the forecast period. Flexible foams are employed to manufacture furniture and lightweight accessories used in automotive and transportation sectors. China is a prominent producer of polyurethane across the globe. In terms of demand, the country accounts for 50%–60% share of the global polyurethane market.

Asia Pacific Expected to Dominate Global Polyurethane Market

Based on region, the global polyurethane market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is estimated to be the leading region of the global market during the forecast period. Growth in population is fueling the consumer goods industry in the region. This, in turn, is driving industries in Asia Pacific such as bedding & furniture and building & construction. Commercially, polyurethane is widely used as a raw material to manufacture furniture. Polyurethane-based rigid foams are widely used in wall foundation in the construction sector. Growth of the building & construction industry in developing economies in Asia Pacific such as China and India is a major factor boosting the demand for polyurethane in the region. Growth of the automotive industry is augmenting the consumption of lightweight automotive and transportation vehicles. This fuels the polyurethane usage in automotive seats and accessories. Furthermore, improvement in lifestyle is boosting the demand for luxurious products (including customized furniture). This, in turn, is propelling the demand for customized furniture, white goods, and appliances, wherein polyurethane is used.

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Hot Melt Adhesives Market is Expected to reach US$ 8642.2 Mn by 2026

In terms of revenue, the global hot melt adhesives market is projected to expand at a CAGR of 8.7% from 2018 to 2026, according to a new research report titled ‘Hot Melt Adhesives Market – Global Industry Analysis, Value, Share, Growth, Trends, and Forecast, 2018–2026’ published by Transparency Market Research (TMR) In terms of value, the global hot melt adhesives market is expected to reach US$ 8642.2 Mn by 2026. The market is driven by the rise in demand for hot melt adhesives in packaging and non-woven/ hygiene products. The hot melt adhesives market in Asia Pacific is estimated to expand at a CAGR of 9.2% during the forecast period, owing to the rapid increase in demand for packaging in food and e-commerce sectors in the region. Based on product, the ethylene vinyl acetate segment held major share of the global hot melt adhesives market in 2017. However, the polyurethanes segment is expected to expand significantly from 2018 to 2026.

Rise in Demand for Ethylene Vinyl Acetate and Polyurethanes to Boost Market

Based on product, the ethylene vinyl acetate segment accounted for major share of the hot melt adhesives market in terms of value and volume in 2017. This can be ascribed to the low prices of ethylene vinyl acetate hot melt adhesives and ease of manufacture. These hot melt adhesives possess better performance properties in terms of crack resistance, resilience, toughness, UV resistance, and light stability. This enables packaging manufacturing lines to maintain high speed owing to short open and setting times of ethylene vinyl acetate hot melt adhesives. Thus, the cost-effectiveness of ethylene vinyl acetate is projected to drive the hot melt adhesives market during the forecast period. Polyurethanes are employed in a wide range of applications due to their excellent performance properties such as high bond strength than water-based and other types of hot melt adhesives. The growth of the polyurethanes segment is driven by the rise in demand for these adhesives in construction, furniture and product assembly applications.

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Technical Limitations in High Temperature Applications and Presence of Potential Substitutes to Restrain Market

Hot melt adhesives are thermoplastic compounds. Thus, they melt flow or creep when exposed to surrounding temperature that is near to their flow point. Technical limitations of hot melt adhesives such as smaller temperature range to which they can be exposed than water-based and solvent-based adhesives are anticipated to hamper the market in the near future.

Tank-free Hot Melt System Offers Key Opportunities

Traditional hot melt system has limitations in the structure of tanks. Substantial amount of time is required for heating the material in the tank. Furthermore, it generates adhesive char. Operators are also exposed to hot adhesives. Tank free systems can employ vacuum feed to draw adhesive pellets into specially designed heating chambers. Pellets are melt-on-demand and dispense quickly without overheating. The elimination of heated tanks significantly improves the performance of hot melt equipment. Tank-free hot melt system is estimated to be an efficient and high performance adhesion system that can drive the hot melt adhesives market in the near future.

Asia Pacific Accounts for Major Share in Terms of Volume and Value

Asia Pacific was the major region of the global hot melt adhesives market, accounting for more than 40% share in terms of volume and value in 2017. Growth in industrialization is fueling the demand for hot melt adhesives in various end-use industries, such as packaging, electronics, construction, and automotive, in the emerging economies of Asia Pacific. China is a key exporter of hot melt adhesives in the global market. The country has experienced exponential growth in e-commerce since the last two years. This has boosted the demand for packaging, thereby fueling the demand for hot melt adhesives in packaging applications. Furthermore, advancements in the health care industry and improvements in lifestyle in emerging economies such as China and India are likely to augment the demand for hot melt adhesives in non-woven/hygiene products. Rise in infrastructure activities, increase in focus on trade activities, and growth in awareness about hygiene products are anticipated to propel the demand for hot melt adhesives in India during the forecast period.

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Conductive Inks Market to Expand at a steady CAGR of 3.4% during the Forecast Period that is from 2018 to 2026

The competitive landscape of the conductive ink printing market is moderately consolidated with the dominance of key players. The competition in the market is expected to heat up with the entry of several new players says Transparency Market Research. Some of the prominent players operating in the global conductive ink printing are Henkel AG & Co. KGaA, Vorbeck Materials Corporation, Inc., NovaCentrix,  Intrinsiq Materials, Inc., Johnson Matthey PLC, Heraeus Holding GmbH,  Sun Chemical Corporation and Applied Ink Solutions.

Key players in the conductive inks market are ramping their investments in development of eco friendly products. This is because harmful chemical used in conductive ink printing market in a way restricting the growth in the conductive inks market. The new development is foreseen as a significant push to the tranquil growth in the global conductive ink printing market.

According to TMR, the global conductive inks market   was noted at a valuation of US$ 3,230.7 mn in 2017. The market is anticipated to expand at a steady CAGR of 3.4% during the forecast period that is from 2018 to 2026.

On the basis of application,, the biosensor segment is expected to dominate the global conductive inks market in the coming years. This is mainly because of the increasing demand of biosensors from end user industries such as semiconductors, packaging and retails. Based on region, the demand for conductive inks is expected to rise in Asia Pacific region.  This can be attributed by the increasing adoption of conductive inks in the electronics & electrical sector. China is considered as a hub of semiconductor industry and conductive inks are increasingly used for making circuits on the silicon substrate.

The global conductive inks market is expected to rise at a steady pace in the next few years. This is mainly due to the growing application of printed circuit boards (PCBs), antennas, sensors, touch screens, and printed heaters in different industries.

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Rising Demand from End User to Drive Market

Conductive inks are widely used to print electronic circuits over several surfaces. With technological advancements in nano-patterning, the demand for conductive inks is expected to rise further. This is mainly because of their ability to improve light extraction from OLEDs (Organic Light Emitting Diodes).  Moreover, the utilization of the 3D printing innovation in medicinal gadgets and different applications is anticipated to offer colossal development potential for producers f conductive inks

Stringent Governmental Regulation against use of VOC to Impede Growth

Despite several opportunities in the global conductive inks market, the growth in the global conductive inks market is expected to hamper owing to the stringent government regulation over the use of harmful chemical in the manufacturing of the conductive inks.

Nevertheless to overcome several giant players in the global conductive inks market is focusing on the development of organic and less harmful conductive inks. For instance, method, a key players in the market have launched an aqueous based conductive inks. These inks do not contain harmful chemicals and is made from aqua based material. This is expected to offer several new opportunities to the growth of the global conductive inks market.

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Along with this, rising demand for packaging industry for electronic barcode printing is another factor expected to fuel the global conductive inks market in the coming few years.

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Defoamers Market  to Expand with Significant CAGR 4.0% by 2026

The global defoamers market was valued at around US$ 7,000.0 Mn in 2017 and is anticipated to expand at a CAGR of more than 4.0% from 2018 to 2026, according to a new research report published by Transparency Market Research (TMR) titled ‘Defoamers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Rise in demand for defoamers in water treatment and paints & coatings industries drives the global defoamers market. Asia Pacific accounted for a major share of the global defoamers market. In terms of demand, China accounted for a dominant share of the market in the region. The defoamers market in Asia Pacific is projected to expand at a CAGR of around 5.0% during the forecast period.

Rise in Utilization of Defoamers in Paper & Pulp Industry

Defoamers play a vital role in pulp and paper mills, as they hamper the formation of foam. They are surface active agents such as esters or amides of fatty acids and PE glycols. Build-up of foam in paper mills can cause various types of issues such as difficulties in the formation of paper, creation of deposits, development of bacteria, and drainage problems. Defoamers improve drainage in kraft pulp stock and sulfite stock in pulp mills. Usage of defoamers leads to the reduction of paper breaking, thus improving the function of the paper machine. Defoamers exhibit lower steam consumption attributes, which helps save energy and costs. These properties are anticipated to drive the defoamers market.

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Increase in Demand for Defoamers from Manufacturers of Paints & Coatings

Mechanical or chemical defoamers play an important role in industrial manufacturing and processing of liquid paints and coatings. Defoamers are effectively applied with the help of brushes, rollers, or sophisticated application methods such as spray or curtain coating. Implementation of stringent environmental regulations have led to the replacement of solvent-based systems with water-based coating systems. Large amounts of special surfactants are utilized in waterborne coatings. This has led to the need for highly efficient defoamers. Excessive foam formation results in inefficiency; long grinding time; storage instability of paints and coatings formulations; and other issues such as crater formation, loss of adhesion, gloss reduction, and loss of opacity. Silicone-based, silicone-free, oil-based, or wax-based defoamers can be employed in paint & coating applications, depending on their formulations and physical properties. High usage of defoamers in the paints & coatings industry is expected to propel the defoamers market in the near future. Rise in usage of defoamers in the paints & coatings industry due to their exceptional attributes is projected to boost the demand for defoamers during the forecast period.  

Implementation of Environmental Regulations by Governments on Defoamers

Usage of additives such as defoamers in food and drugs is listed in the Code of Federal Regulations (CFR) under the U.S. Government regulations. Rules established by the Food and Drug Administration are mentioned in Title 21, while Title 40 entails the concerns of the Environmental Protection Agency. These regulations are subject to change and CFR is revised at least once in the calendar year. These regulation have been implemented to curb the usage of defoamers in food and drug applications; however, the regulations differs from one country to another. Therefore, every company must comply with the regulations of a particular country to protect itself from any loss due to alteration in any such regulations. The World Health Organization is taking efforts to establish international guidelines on food additives to standardize regulations across the globe. However, most countries prefer to follow their own guidelines to protect the interest of the consumers.

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Structural Adhesives Market is Anticipated to Expand at a CAGR of 6.98% from 2018 to 2026

The global structural adhesives market was valued at US$ 9,419.4 Mn in 2017. It is anticipated to expand at a CAGR of 6.98% from 2018 to 2026, according to a new research report titled ‘Structural Adhesives Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR)  The global structural adhesives market is driven by a rise in demand for structural adhesives from the building & construction and wind energy sectors worldwide. In terms of demand, Asia Pacific accounts for a dominant share of the global structural adhesives market.

Increase in Demand for Lightweight and Low-carbon Emitting Vehicles and Aircraft are Driving the Structural Adhesives Market

The automotive industry is continually working toward designing lightweight and fuel-efficient vehicles that can reduce carbon dioxide emissions significantly. Stringent regulations regarding carbon dioxide emissions are being imposed worldwide. Structural adhesives play an important role in reducing carbon dioxide emissions. They provide vehicles with structural strength. They possess the ability to bond various surfaces together. Use of structural adhesives makes vehicles lighter, quieter, and safer compared to mechanical fastening methods such as welding, bolting, and soldering. Structural adhesives are known to distribute load evenly across a surface, resulting in better efficiency compared to mechanical fastening, which generates local stress in parts joined. Currently, around 15 kilograms of adhesives are used in an average car. This amount is likely to increase in the next few years. Structural adhesives are preferred for use in interiors, exteriors, and engine compartments of aircraft, due to their advantages over other types of adhesives. Structural adhesives carry higher weight loads and improve uniform distribution of stress and strain across the joints. They also maintain the integrity and strength of materials, as there is no hole, rivet, or fastening element to weaken the structure. The above-mentioned factors are projected to fuel demand for structural adhesives worldwide during the forecast period.

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Stringent Environmental Regulations in North America and Europe are Hampering the Structural Adhesives Market

Volatile organic compounds (VOC) emitted during the use of structural adhesives pose a threat to the environment. Several countries have set guidelines restricting the amount of VOCs emitted during the usage of structural adhesives in industries. Manufacturing operations are bound by regulations and rules with respect to evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. Violation of these regulations is expected to lead to legal obligation in future business activities. These environment-related regulations restrain the demand for structural adhesives in the residential and non-residential construction sector, as violation of these government regulations is projected to attract heavy penalties. Rapid industrialization and urbanization have increased air pollution, which has affected the health of people across the globe. Several developing as well as developed countries are facing pressure from domestic and international regulatory bodies to formulate regulations and principles about control of VOC emissions in order to lower the levels of pollution. Air pollutants, such as VOCs, particulate matter, carbon monoxide, oxides of nitrogen, and sulfur dioxide, cause serious health hazards to agriculture and climate worldwide. VOCs are major air pollutants in urban areas. Emission standards have been fixed to facilitate the effective control of air pollution. These standards have set permissible limits that are formulated by organizations such as the Central Pollution Control Board, Ministry of Environment & Forests, Bureau of Indian Standards, World Health Organization, and National Emissions Inventory. The National Emissions Inventory is a combination of data collected from various sources, including the industrial sector, EPA models, and numerous state and local agencies.

Urethane Segment to Dominate Global Structural Adhesives Market

Based on type, the global structural adhesives market has been segmented into epoxy, acrylic, cyanoacrylate, urethane, and others. The others segment comprises silicon, anaerobic adhesives, and vinyl acetates. The urethane segment accounted for a leading share of the global structural adhesives market in 2017. The segment is likely to remain highly attractive during the forecast period, due to the cost-efficient and fast-curing nature of urethanes. Also, urethanes provide strong bonding to larger areas, which provides them a competitive advantage over other types of adhesives.

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Automotive Segment to Lead Market

Based on end-use industry, the global structural adhesives market can be divided into automotive, building & construction, marine, aerospace, wind energy, and others. The others segment includes sporting goods, electronics, and furniture. Automotive was a highly attractive segment of the global structural adhesives market in 2017, due to a rise in demand for structural adhesives for use in recreational vehicles and lightweight vehicles. Structural adhesives are used significantly in the automotive industry, as they can provide better adhesion to distinct substrates such as steel and plastics.

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Paints and Coatings Market  to Expand at a Robust CAGR of 5.2% between 2018 to 2026

The global paints & coatings market was valued at US$ 149.79 Bn in 2017 and is anticipated to expand at a CAGR of 5.2% from 2018 to 2026, according to a new report titled ‘Paints & Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global paints & coatings market is driven by growing building and construction activities across the globe.

Rise in Demand for Paints & Coatings from Building & Construction Industry to Drive Market

The global paints & coatings market is primarily driven by advancements in the building & construction industry. The building & construction industry is projected growth in the next few years due to rise in urbanization and population globally. Urbanization and changing lifestyles are expected to drive the global construction industry in the next few years. Growing population and improving economic conditions have increased expenditure on housing and infrastructure development across the globe. The economy in Asia Pacific has grown in the past few years. This has led to developments in the building & construction industry in the region due to growing middle class population and improving standard of living in developing countries in Asia Pacific.

Implementation of Regulations to Reduce VOC Content in Paints & Coatings to Drive Market

Environmental regulations regarding volatile organic compound (VOC) emissions from coatings have been implemented in certain regions of the world. They regulations are particularly stringent in regions such as Europe and North America. This, in turn, has increased the acceptance and adoption of coatings that are highly productive, technically advanced, sustainable, and emit less VOCs. Several companies operating in the paints & coatings market are developing innovative products with improved properties. Players in the paints & coatings market are developing environment friendly technologies having superior performance in demanding applications across the value chain.

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Harmful Environmental Effects of Solvent-borne Coatings to Restrain the Market

Commonly used solvents contain significant amounts of VOCs, which are hazardous to human health. Use of solvent-based paints & coatings leads to deterioration of air quality. It can cause long-term harmful on human health. This has led to the implementation of strict norms on the use of solvent-based coatings. However, in terms of consumption, the solvent-based segment is currently leading the paints & coatings market. Regulations such as Environment Protection Agency (EPA) and Registration Evaluation Authorization and Restriction of Chemicals (REACH) in the U.S. and countries in Europe have implemented stringent rules regarding VOC emissions.

Acrylics Segment to Dominate Global Paints & Coatings Market

Based on resin, the paints & coatings market has been segmented into acrylic, polyurethanes, polyesters, epoxy, alkyd, and other resins such as silicone, polyvinyl acetate (PVA), and vinyl ester. Acrylic is one of the most widely used type of paints and coatings. They are produced from monomers that are esters of acrylic or methacrylic acid. Acrylic resins can be used in solvent-borne and water-borne formulations. They can be thermoplastic or thermosetting in nature. They are largely consumed in architectural coatings, industrial coatings, and protective coatings.

Water-based Coating Segment Dominates Paints & Coatings Market

In terms of technology, the paints & coatings market has been classified into water-based, solvent-based, high solid, power, and others such as UV-curing technology. A water-borne coating is an eco-friendly surface treatment that uses water as a solvent to disperse resin employed to form coating or paint. These coatings are widely used due to their low VOC (less than 3.5 pounds per gallon of water). Coatings produced using the water-based technology are eco-friendly. This, in turn, has increased the consumption of paints & coatings.

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Residential Application Segment Dominates the Paints & Coatings Market

Based on application, the paints & coatings market can be divided into automotive & transportation, aerospace, building & construction, packaging, health care & medical devices, marine, electrical & electronics, and other applications such as wood working. Building & construction segment is estimated to account for a considerable share of the global paints & coatings market during the forecast period. The segment is anticipated to continue to dominate the market during the forecast period due to increase in construction and infrastructure development activities and rise in consumption of paints and coatings for decorative purposes.

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Adhesives and Sealants Market is Expected to Rise at a CAGR of 5.1% from 2018 to 2026

The global adhesives & sealants market was valued at US$ 58,153.1 Mn in 2017 and is anticipated to expand at a CAGR of 5.1% from 2018 to 2026, according to a new report titled ‘Adhesives & Sealants Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global adhesives & sealants market is driven by the rise in building and construction activities across the globe.

Rise in Demand for Adhesives & Sealants from Building & Construction Industry to Drive Market

The global adhesives & sealants market is primarily driven by advancements in the building & construction industry. Rise in the number of upcoming commercial building projects, especially in Asia Pacific and Middle East & Africa, is anticipated to propel the adhesives & sealants market in these regions. The residential and non-residential construction sectors in the U.S. has been expanding in the last few years. This trend is likely to continue during the forecast period. The residential construction sector in the U.S. experienced year-on-year growth of 10.52% in 2016 and 10.58% in 2017. The non-residential construction sector expanded by 7.71% from 2015 to 2016. Construction of health care, commercial, and office buildings have increased in the country. The housing industry in the U.S. is estimated to expand at a rapid pace in the near future. New York, Houston, Los Angeles, and Chicago are projected to represent 20% of total construction output in the U.S. by 2026. India is expected to become the third leading construction industry in the world by 2026.

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Implementation of Stringent Environmental Regulations Related to VOC Emission to Restrain Market

Volatile organic compound (VOC) emissions during the use of adhesives pose a threat to the environment. Several countries have set guidelines restricting the amount of VOCs emitted during the usage of adhesives, especially for solvent-based adhesives, in industries. Manufacturing operations are bound by rules and regulations regarding evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. Violation of these regulations is expected to lead to legal compromise future business activities of the company.

These environmental regulations restrain the demand for solvent-based adhesives in packaging and printing industries, as heavy penalties and losses can be incurred due to violation of these government regulations. Therefore, most market players are shifting from solvent-based adhesives to water-based adhesives. Rapid industrialization and urbanization has increased air pollution, which has affected the health of people across the globe. Several developing and developed countries such as the U.S., India, and China are facing pressure from domestic and international regulatory bodies to formulate regulations to control VOC emission and reduce pollution.

Acrylics Segment to Dominate Global Adhesives & Sealants Market

Based on resin, the adhesives market has been segmented into acrylics, epoxy, poly vinyl acetate (PVA), polyurethane (PU), styrenic block, ethyl vinly acetate (EVA), and other resins such as silicone, polyester, and fluoropolymer. In terms of resin, the sealants market has been segregated into acrylics, epoxy, poly vinyl acetate (PVA), polyurethane (PU), silicone, and others such as polyester and fluoropolymer.

The acrylic segment dominated the adhesives market. Acrylic resins are extensively being used in the production of heat resistant, water-based, and UV curing adhesives. Additionally, resins have robust bonding characteristics, fast setting time, and good environmental resistance.

The acrylic segment of the sealants market is anticipated to expand at a rapid pace during the forecast period. Favorable physical properties such as good peel, impact, and tensile lap shear strengths are driving the demand for acrylic sealants. Excellent adhesion properties exhibited on substrates such as steel and aluminum are expected to boost their demand in automotive, consumer, and construction industries.

Water-based Segment to Drive Adhesives Market

In terms of technology, the adhesives market has been classified into water-based, solvent-based, hot melt, and reactive and others, which includes powder-based and oil-based. The water-based segment of the adhesives market is estimated to expand at a rapid pace during the forecast period due to their eco-friendly nature. Water-borne adhesives meet the standards imposed by the U.S. and European Union regarding VOC emissions. In addition to low toxicity, their high water content makes water-based adhesives less flammable and reduces hazardous waste.

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Automotive & Transportation Segment Dominates Adhesives & Sealants Market

Based on application, the adhesives market has been divided into paper & packaging, building & construction, woodworking, automotive & transportation, consumer/DYI, leather & footwear, and others such as electronics and marine. The sealants market has been split into building & construction, automotive & transportation, consumer, others, which include industrial, woodworking, packaging, and electronics.

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Sulfur Hexafluoride Market is expected to reach US$ 340.75 Mn by 2026

In terms of value, the global sulfur hexafluoride market is projected to expand at a CAGR of 6.3% from 2018 to 2026, according to a new research report titled ‘Sulfur hexafluoride Market – Global Industry Analysis, Value, Share, Growth, Trends, and Forecast, 2018–2026’ published by Transparency Market Research (TMR) .In terms of value, the global sulfur hexafluoride market is expected to reach US$ 340.75 Mn by 2026. The market is driven by the increase in electricity consumption across the globe. The sulfur hexafluoride market in Asia Pacific is estimated to expand at a CAGR of 6.4% during the forecast period owing to rising need for power utilities due to the increase in demand for homes and infrastructure development led by rapid increase in population in countries such as China and India. Based on grade, the technical grade segment accounted for a major share of the global sulfur hexafluoride market in 2017 and this trend is anticipated to continue during the forecast period.

Rising Electricity Consumption across Globe to Boost Market

Based on application, the electrical transmission and distribution segment accounted for major share of the sulfur hexafluoride market, in terms of value and volume, in 2017. This can be ascribed to the wide range of applications of sulfur hexafluoride in electrical transmission and distribution devices such as circuit breakers and gas insulated switch gears. Sulfur hexafluoride has no substitutes in high voltage and medium voltage circuit breakers and gas insulated switch gears due to its high dielectric strength. Rise in electricity consumption due to growing demand from residential, commercial, and industrial sectors and increase in development activities across the globe is projected to drive the global sulfur hexafluoride market.

Sulfur hexafluoride gas is utilized in leak detection applications and as a gaseous dielectric for circuit breakers, transformers, and condensers, as it possess superior performance properties such as excellent dielectric strength and thermal stability. The electricity requirement is fulfilled and transmitted through several distribution devices. Rise in installation of high voltage switchgear due to rapid industrialization is expected to boost the demand for sulfur hexafluoride during the estimated period.

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Rise in Concerns Regarding Global Warming to Restrain Market

Sulfur hexafluoride is a key greenhouse gas with greenhouse potential (GWP) of 23500 for 100 years. Several tons of sulfur hexafluoride are released into the open atmosphere due to negligence during handling in various industries. The gas is included in the 1997 Kyoto Protocol and regulations have been implemented to regulate its emissions in the international policy. Rise in environmental concerns and regulations to control greenhouse effects are anticipated to hinder the global sulfur hexafluoride market during the forecast period.

Sulfur Hexafluoride Re-use Programs Offers Key Opportunities

Sulfur hexafluoride is essential in electrical transmission and distribution applications due to its unique properties such as non-toxicity, chemical inertness, high thermal stability, and non-flammability. However, its high GWP increases environmental concerns about global warming. Hence, reclaiming of sulfur hexafluoride gas from electrical installations is necessary and beneficial due to economic and ecological reasons. Development of sulfur hexafluoride re-use service includes reclaiming of used sulfur hexafluoride gas and analytical services for used sulfur hexafluoride, packaging, and transport of used sulfur hexafluoride can create lucrative opportunities for sulfur hexafluoride manufacturers.

In Terms of Volume and Value, Asia Pacific Accounts for Major Share of Global Market

Asia Pacific was the major region of the global sulfur hexafluoride market. In terms of volume and value, the region accounted for more than 40% share of the market in 2017. Initiatives by governments of developing economies such as India for affordable housing and infrastructure development are expected to drive metal manufacturing and construction industries in these countries in the near future. This factor is anticipated to boost the sulfur hexafluoride market during the forecast period.

China is a major country for the sulfur hexafluoride market. Key players operate in the market in the country along with several local and unorganized manufacturers. Based on demand, China constitutes a prominent share of the sulfur hexafluoride market in Asia Pacific due to rapid urbanization leading to the rise in need for power utilities in the country and established semiconductor manufacturing industry.

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Global Sulfur Hexafluoride Market is Fragmented  

The report comprises profiles of major companies operating in the global sulfur hexafluoride market. Global sulfur hexafluoride market is fragmented with the presence of global and local players. Key players include operating in the global market include Solvay, AGC Chemicals, Kanto Denka Kogyo Co., Ltd., SHOWA DENKO K.K., The Linde Group, Air Products and Chemicals, Inc., Air Liquide, Axcel Gases, Fujian Shaowu Yongfei Chemical Co., Ltd, Concorde Specialty Gasesc, Shandong Ruihua Fluoride Industry Co. Ltd, and Wuxi Tianzhi Chemical Technology Co., Ltd.  Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The report also comprises a comparison matrix between the top players operating in the global sulfur hexafluoride market and analysis of their key strengths for 2017.

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Lubricants Market is Expected to Display a CAGR of 2.9% from 2018 to 2026

The global lubricants market was valued at US$ 125.66 Bn in 2017 and is anticipated to expand at a CAGR of 2.9% from 2018 to 2026, according to a new report titled ‘Lubricants Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global lubricants market is driven by the rise in demand for synthetic lubricants across the globe. Asia Pacific accounts for major share of the global lubricants market due to rapid industrialization and increase in demand for small and fuel-efficient passenger vehicles.

Rise in Demand for Synthetic Oil Lubricants in Automotive and Industrial Applications

Synthetic oil lubricants include API group III-based products. Demand for synthetic passenger car motor oils (PCMO) is high in mature economies, such as the U.S. and Europe, due to the increase in demand for premium vehicles; growth in demand for extended oil drain intervals (ODIs); and improved fuel economy, lower vehicle emissions, and hardware compatibility offered by synthetic oil lubricants. Governments of countries in Europe and North America are pushing OEMs to create more energy saving and environment-friendly equipment, thereby boosting the demand for more powerful and reliable equipment among consumers. Certain OEMs have introduced technological advances in equipment design by creating lighter engines with power trains with 10-speeds or more and much higher power density. This equipment with advanced design require special purpose lubricants, which further enable these new engines, power trains, and equipment to operate at their peak efficiency. Many OEMs are working with lubricant manufacturers to come up with tailor-made products for new designs. Synthetic base stocks, such as PAO, provide excellent oxidative stability and low-temperature performance. These factors are estimated to boost the demand for synthetic oil lubricants during the forecast period. Asia Pacific has become the hub of the automotive industry in the last few years. Increase in demand for automobiles in emerging countries such as China and India is driving the automobile industry, thereby augmenting the need for lubricants.

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Increase in Application of Lubricants in Food Processing and Wind Turbine Industries to Offer Attractive Growth Opportunities

Rapid global industrialization is boosting the manufacturing sector and purchasing power of consumers. The middle class can afford to lead a better lifestyle. Thus, manufacturers of lubricants are striving to improve the quality of their products to meet the demands of various end-use industries. Demand for food grade industrial lubricants in the food processing industry is estimated to rise significantly during the forecast period. This can be primarily ascribed to the shift in demand toward automatic lubrication systems and automated factories. The food processing industry prefers automatic lubrication systems, as they keep the required components lubricated at regular intervals. The global wind turbine industry has been expanding significantly. Wind turbines and their components are exposed to various climatic conditions and high loads. Constant changes in high loads, varying operating conditions, and vibrations require tough equipment. There is a need for industrial lubricants, which can resist high loads and offer long service life over a wide range temperatures.

Fluctuation in Prices of Crude Oil and Synthetic and Semi-synthetic Lubricants

Several economic factors, such as overproduction of crude oil, changing energy norms of countries, and economic meltdown across Europe and North America have led to a steep decline in oil prices. These factors have created volatility in demand for lubricants and their prices. Thus, oil companies need to adopt flexible strategies in the ever-changing market conditions amid intense competition. Demand for synthetic lubricants is high in North America and Europe due to the regulatory implications regarding vehicles and high customer demand. This is not the case in developing economies, where a majority of consumers prefer affordability of lubricants over their quality. This adversely affects the demand for synthetic lubricants in the automotive lubricants market. However, the overall lubricants market is not significantly affected, since mineral oil-based lubricants account for major share of the market.

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Automotive Oils Segment to Dominate Global Lubricants Market

The global lubricants market has been segmented based on type, product, application, and region. Based on product, the market has been divided into automotive oils, industrial oils, metalworking fluids, hydraulic oils, process oils, marine oils, and grease & others. The automotive oils segment has been split into engine oils and transmission oils. The automotive oils segment dominated the global lubricants market in 2017. The automotive industry has been expanding since the last few years in terms of manufacturing process, materials, and geometries. The industry is focusing on meeting the requirements of increased mileage and lower emissions. Significant expansion of the automotive industry is propelling the demand for lubricants.

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Ink Additives Market is Estimated to Register a 5.2% CAGR Between 2017 and 2024

The global ink additives market was valued at US$ 2.2 Bn in 2017 and is anticipated to expand at a CAGR of more than 5.0% from 2018 to 2026, according to a new research report published by Transparency Market Research (TMR)  titled ‘Ink Additives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Printing ink manufacturers use ink additives as raw materials to impart various characteristics to printing inks. These characteristics include different viscosities, thicknesses, resistance to the environment, and smooth running on the printing press.

Rising Awareness about Benefits of Packaging to Boost Market

All goods require packaging. Packaging is an important factor influencing the purchasing decision of consumers. Packaging protects goods from incorrect handling, harsh environments, and transportation. Attractive packaging plays an important role in selling of goods. Manufacturers as well as consumers have started realizing these benefits of packaging. As a result, the global packaging industry has expanded at a considerable pace in recent years. The trend is expected to continue during the forecast period. All types of packaging require printing inks and all printing inks require ink additives as one of the raw materials. Thus, increased awareness regarding packaging is expected to drive the global ink additives market during the forecast period.

Digitization to Negatively Affect Ink Additives Market

Digitization refers to the development of text and pictures in the digital form. Development of computers, smartphones, and high-speed Internet has accelerated the digitization process. Several textbooks, novels, illustrative books, etc. are currently available on the Internet. Even marketing campaigns no longer require printing of any materials and they can be conducted entirely online. The trend of e-commerce is growing at a rapid pace across the world. Digitization across several sectors, such as e-commerce, books, and marketing, has hampered the publication & commercial printing industry. In turn, substantial decrease in paper-based communication is likely to restrain the global ink additives market during the forecast period.

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Close Collaboration between Printing Ink Manufacturers and Ink Additive Manufacturers

Various types of ink additives are available in the market. They include surfactants, waxes, defoamers, and dispersants. They offer different end-results. For example, surfactants improve the wetting of pigments or substrates; waxes promote rub resistance; and plasticizers enhance the flexibility of printed films. Ink additives can be manufactured according to the precise requirement in terms of the final printing ink. Ink additives can even be customized for specific applications, such as packaging, publishing, and commercial printing, or printing processes such as lithography, flexography, gravure, and digital printing.

However, development of custom ink additives is only possible through close collaboration between printing ink manufacturers and ink additive manufacturers. Such collaborations present lucrative opportunities for ink additive manufacturers.

Global Ink Additives Market Segmented based on Type, Printing Process, Printing Ink, Application, and Region

In terms of type, the global ink additives market has been segmented into wetting agents, rheology modifiers, and others, with the wetting agents segment accounting for a prominent share of the market. Dispersants and defoamers are leading sub-types of wetting agents, with the dispersants sub-segment accounting for a leading market share. The wide range of properties imparted to printing inks by wetting agents have led to the wetting agents segment gaining a major share of the global ink additives market. Based on printing process, the market has been segregated into lithography, flexography, gravure, digital, and others. The flexography segment holds a key share of the market, primarily because the flexographic printing is widely employed in end-user industries such as packaging.

In terms of printing ink, the global ink additives market has been segmented into water-based, solvent-based, and UV-cured. A large share of ink additives is consumed by solvent-based printing inks. In terms of application, the market has been segregated into packaging, publishing, commercial printing, and others. Packaging is the primary application of ink additives. Furthermore, with rising awareness regarding significance of packaging, share of the packaging segment in the global ink additives market is expected to increase in the near future.

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In terms of region, the global ink additives market has been divided into North America (the U.S. and Canada), Latin America (Brazil, Mexico, and Rest of Latin America), Europe (Germany, the U.K., France, Italy, Spain, Russia & CIS, and Rest of Europe), Asia Pacific (China, India, Japan, ASEAN, and Rest of Asia Pacific), and Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa). Asia Pacific is the leading consumer of ink additives, due to the large amount of printing ink production taking place in the region.

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Water based Inks Market Anticipated to Expand at a CAGR of 6.45% from 2019 to 2027

The global water-based inks market was valued at US$ 5,107.1 Mn in 2018 and is anticipated to expand at a CAGR of 6.45% from 2019 to 2027, according to a new research report titled ‘Water-based Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ published by Transparency Market Research (TMR) The global water-based inks market is driven by the rise in demand for water-based inks in packaging and publications sectors across the globe. In terms of demand, Asia Pacific accounts for a dominant share of the global water-based inks market.

Rise in Demand for Water-based Inks in Packaging Industry to Boost Market

Packaging adds a unique value to any product. It allows the customers to distinguish a particular product from other similar products. Flexible packaging such as bags, pouches, and films can be used to wrap products such as food, beverages, pharmaceuticals, cosmetics, and personal care. The global packaging industry is estimated to be valued at US$ 1,000 Bn by 2020. This, in turn, is fueling the demand for water-based inks across the globe in the next few years.

Increase in Demand for UV-cured Inks in Various Printing Processes to Hamper Market

Increase in environmental restrictions in developed economies across Europe and North America is boosting the need for VOC-free printing inks. UV-cured printing inks are a superior alternative to traditional inks. UV-cured inks are used in various printing processes such as gravure, inkjet, and flexography, as they offer several advantages over the conventional inks. UV-cured inks do not contain VOCs. Their drying process is quicker, as they are treated using a UV light. This is likely restrain the water-based inks market during the forecast period.

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Acrylic Resin Segment to Dominate Global Water-based Inks Market

In terms of resin type, the water-based inks market has been divided into acrylic, polyester, maleic, and others. Acrylic was a highly attractive segment of the global water-based inks market in 2018 and the trend is estimated to continue during the forecast period due to suitability of acrylic resins in various applications.

Flexography Technology Segment is Expand at a Rapidly Pace

Flexography printing technology was a highly lucrative segment of the global water-based inks market in 2018. Flexography printing technology is one of the extensively used printing processes. This technology is used to print various substrates such as paper, plastic, and paperboard. Market share of the flexography technology segment is projected to increase during the forecast period due to its ability to print of a wide variety of substrates and usage of eco-friendly printing inks such as water-based printing inks. Growth of flexible packaging and tags & labels printing industries is likely to drive the segment in the next few years.

Packaging Segment to Lead Market

The packaging segment accounted for a major share of the global water-based inks market in 2018. Rise in the demand for flexible packaging in the food & beverages sector due to its less weight and esthetic appeal, is expected to fuel the demand for packaging in the next few years. This, in turn, is anticipated to drive the global water-based inks market in the near future. The packaging segment comprises flexible packages, corrugated containers, tags, labels, folding cartons, and metal cans.

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Asia Pacific Dominates Global Water-based Inks Market

Based on region, the global water-based inks market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of volume and value, Asia Pacific was a leading region of the global market in 2018. The market in the region is anticipated to expand at a rapid pace during the forecast period owing to growth of packaging and newspaper industries and presence of major manufacturers of water-based inks in the region. This, in turn, fuels the demand for water-based inks in different applications such as corrugated packaging and folding cartons. Furthermore, growth of the advertisement sector and rise in investment in the marketing of food & beverages are expected to boost the market during the forecast period. Europe and North America are significant consumers of water-based inks. The water-based inks market in Latin America is projected to expand at a moderate pace during the forecast period, as demand for water-based inks in these regions is anticipated to rise in the next few years owing. Expansion of the market is attributed to the growth in the packaging industry.

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Biopesticides Market is Expected to reach US$ 6.8 Bn by 2027

In terms of value, the global biopesticides market is projected to expand at a CAGR of 14.2% from 2019 to 2027, according to a new research report titled ‘Biopesticides Market – Global Industry Analysis, Value, Share, Growth, Trends, and Forecast, 2019–2027’ published by Transparency Market Research (TMR) In terms of value, the global biopesticides market is expected to reach US$ 6.8 Bn by 2027. The market is driven by the rise in demand for bio-based products across the globe. North America held significant share of the global biopesticides market in 2018. However, the biopesticides market in Asia Pacific is estimated to expand at a rapid CAGR of 14.8% during the forecast period, owing to the increase in demand for efficient agrochemicals the region. Based on source, the microbial pesticides segment accounted for key share of the global biopesticides market in 2018.  Bioherbicides is a prominent product segment of the global biopesticides market.

Rise in Demand for Microbial Pesticides and Bioherbicides to Boost Market

Based on source, the microbial pesticides segment accounted for major share of the biopesticides market in terms of value and volume in 2018. This can be ascribed to the low prices of microbial biopesticides and their low toxicity. These biopesticides possess better performance properties in terms of precise pathogen and pest control on targeted organisms. Based on product, the bioherbicides segment constituted key share of the market due to their excellent properties of weed control. Growth of the bioherbicides segment is driven by the rise in adoption of bioherbicides in integrated weed control processes.

Reluctance in Adoption of Modern Pesticides among End-users to Restrain Market

Conventional techniques dominate the agriculture sector in most of the developing countries. Farmers are also unaware about the ill-effects of chemical-based pesticides such as soil infertility and environmental pollution. Thus, the rate of adoption of advanced products is sluggish in agriculture and agriculture-related industries, primarily in developing economies. Lack of effective distribution network has also adversely affected the availability of biopesticides in local markets. These factors are anticipated to hamper the biopesticides market in the near future.

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Bacillus thuringiensis (Bt) based Biopesticides Offer Key Opportunities

Bacillus thuringiensis (Bt) is a naturally occurring bacterium in soil. It is toxic to certain pests when sprayed on plants. Several subspecies of Bt bacterium are employed in the development of products such as insecticides, fungicides, nematicides, herbicides, and plant-incorporated protectants. Extensive research is being carried out on Bt to extend its toxicity in order to widen its effectiveness over a broad spectrum of species. Furthermore, easy adoption of Bt based biopesticides in IPM systems to enhance crop yield is anticipated to create opportunities in emerging countries in Asia Pacific and Latin America.

North America Accounts for Major Share in Terms of Volume and Value

North America was the prominent region of the global biopesticides market, accounting for more than 30% share in terms of volume and value in 2018. Rise in awareness about the harmful effects of chemical-based agro products and increase in demand for organic food are key factors driving the biopesticides market in the region. However, the biopesticides market in Asia Pacific is anticipated to expand at considerable pace during the forecast period. Increase in demand for food yield due to the ever-growing population has boosted the demand for efficient agrochemicals in the region. Thus, cost effectiveness and excellent performance in terms of pest & pathogen control is anticipated to fuel the demand for biopesticides during the forecast period.

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Medical Plastics Market to Increase at a CAGR of 7.2% between 2019 to 2027

The global medical plastics market was valued at US$ 9.1 Bn in 2018 and is anticipated to expand at a CAGR of 7.2% from 2019 to 2027, according to a new research report titled ‘Medical Plastics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’’ published by Transparency Market Research (TMR). Rise in demand for medical plastics for manufacturing medical devices fuels the global medical plastics market. North America accounts for a major share of the global medical plastics market due to the increase in usage of medical plastics in disposable medical devices

Increasing Demand for Plastics in Medical Industry

Increase in demand for plastics to manufacture medical devices such as disposables, diagnostic instruments, catheters, tubes, masks, and medical bags is anticipated to boost the global medical plastics market. Lightweight and cost-effectiveness of medical plastics attract large number of medical device manufacturers to invest in medical plastics. Rising demand for disposable medical devices such as bed pens, inhalation masks, and intravenous (IV) tubes is likely to propel the medical plastics market during the forecast period. Low density of medical plastics make them ideal for the use in applications such as orthopedic devices, artificial cornea, and hearing aids. Implementation of stringent regulations by governing bodies across the globe is expected to reduce the consumption of medical plastics owing to health concerns. Long shelf life of medical plastics is a major factor driving the demand for these plastics.

Advancements in 3D Printing Technologies for Manufacturing Medical Devices

Adoption of advanced technologies such as 3D printing is a key factor fuelling the global medical plastics market. 3D printing is used to create tissues & organoids, surgical tools, patient-specific surgical models, and customized prosthetics. The usage of 3D printing technology can help customize medical implants for body parts such as knees, hips, ankles, parts of spine, and skull. Sterile instruments such as forceps, hemostats, scalpel handles, and clamps can be manufactured using 3D printing technology. 3D printing enables rapid production of dental implants, hearing aids, prescription eyeglasses, and headgear.

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High Focus on Extrusion Process Technology

Extrusion is a process of making different parts, which have continuous length and cross section. Plastic in the form of solid plastic mass, pellet, or powder and foaming agents are extensively mixed, melted, and pushed through a die to form a shape during the extrusion process. The obtained shape is moved through secondary operations where it is cooled and cut into required shapes. Extrusion is preferred to other molding technologies for the manufacturing of structures with varying geometries.

North America Dominates Global Medical Plastics Market

In terms of demand, North America is expected to hold dominant share of the global medical plastics market during the forecast period. Increase in geriatric population and penetration of lifestyle diseases are the major factors fuelling the medical plastics market in the region. Major manufacturers such as BASF SE, Dow DuPont, and Evonik Industries AG have operational units in the region. Substantial investments in research and development and supportive government initiatives are further driving the medical plastics market in North America. According to the survey conducted by Research America, the investment in medical and health care development in the U.S. rose by 20.6% between 2013 and 2016. Rise in investments in R&D activities in the health care sector is likely to propel the demand for medical plastics in North America.

High Degree of Competition among Established Players

The global medical plastics market is highly fragmented. Therefore, intense competition exists in the market. Major players operating in the global medical plastics market adopt various strategies such as mergers, acquisitions, partnerships, and product launches in order to strengthen their position. Suppliers of medical plastics focus on forward integration in order to achieve product differentiation. Key players profiled in the report on the global medical plastics include Exxon Mobil Corporation, BASF SE, Dow DuPOnt, Evonik Industries AG, Arkema S.A, Covestro AG, Royal DSM, Solvay, The Lubrizol Corporation, HMC Polymers, and Eastman Chemical Company.

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Plastic Compounding Market is Anticipated to Expand at a CAGR of more than 5.0% from 2019 to 2027

The global plastic compounding market was valued at around US$ 60,000.0 Mn in 2018 and is anticipated to expand at a CAGR of more than 5.0% from 2019 to 2027, according to a new research report published by Transparency Market Research (TMR) titled ‘Plastic Compounding Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.’ Rise in demand for plastic compounds in automotive and electrical & electronics industries is driving the global plastic compounding market. Asia Pacific accounted for dominant share of the global plastic compounding market in 2018. In terms of demand, China held major share of the market in the region in 2018. The plastic compounding market in Asia Pacific is expected to expand at a CAGR of around 6.0% during the forecast period.

Increase in Demand for Low Emission Products in Automotive Applications and Rise in Demand for Lightweight Vehicles

International legislations and automotive OEMs have identified the need to reduce odor, fogging, and Volatile Organic Compounds (VOCs) in order to improve air quality and safety of vehicle interiors. Of late, plastic compounders have been focusing on meeting the rising demand for low emission products in automotive interiors. These low emission products blended in plastic compounds conform to Original Equipment Manufacturer (OEM) mandates to reduce the VOC levels. Implementation of stringent regulations against the usage of VOCs in automotive applications is anticipated to boost the plastic compounding market during the forecast period. Furthermore, plastic compounds possess light-weighing properties that result in weight reduction of vehicles. This ultimately lowers fuel consumption. Thus, weight reduction in automotive vehicles enhances fuel efficiency and performance. Increase in production of such lightweight vehicles is estimated to augment the global plastic compounding market during the forecast period.

Rise in Demand for Plastic Compounds in Electrical & Electronic Component Manufacturing

Plastic compounds play a vital role in manufacture and assembly of electrical and electronic devices. They offer reliability to applications that require protection from electrostatic discharge, dissipation of static charges, and effective thermal management. Products manufactured from plastic compounds are lightweight, recyclable, and corrosion-resistant parts that protect against damage to dissipation of static charge in electronic applications. Plastic compound material and its processing is contributing to lower costs and performance enhancement of consumer and industrial electronics manufacturing technologies. Increase in usage of plastic compounds in the electrical & electronics industry due to their exceptional attributes is projected to drive the global plastic compounding market during the forecast period.

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Asia Pacific Dominates Global Plastic Compounding Market

Based on region, the global plastic compounding market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of value, Asia Pacific led the global plastic compounding market in 2018. China is the major manufacturing hub for automotive and electronics industries. The country constituted prominent share of the market in the region in 2018 owing to the high rate of adoption of plastic compounds in automotive and electrical & electronics applications. Major manufacturing companies producing automotive components and electronic devices are relocating from the U.S. and countries in Europe to East Asia. Key players are focusing on expanding their production facilities in Asia Pacific to cater to the rising demand for plastic compounds in several end-use industries in the region. These players are also introducing new production plants in India, Indonesia, and Vietnam. The plastic compounding market in North America and Europe is likely to expand at a moderate pace during the forecast period. Advancement in research & development activities among universities and compound manufacturers in North America and Europe is expected to propel the plastic compounding market in these regions.

Prominent players operating in the global plastic compounding market are BASF SE, RTP Company, Ravago Group, SABIC, LyondellBasell Industries Holdings B.V., DowDuPont Inc., Mexichem Specialty Compounds Inc. (Mexichem S.A.B. de C.V.), Coperion GmbH, Adell Plastics, Inc, Sojitz Corporation, Polyvisions Inc, Celanese Corporation, Covestro AG, Teknor Apex, Trinseo LLC, Asahi Kasei Corporation, Mitsui Chemicals, Inc., KRATON CORPORATION, Kuraray America, Inc., and KRAIBURG. The plastic compounding market is moderately fragmented and highly competitive. Companies operating in the market focus on growth strategies, such as merger & acquisition activities, in order to strengthen their product portfolio and enhance market share. Ongoing research & development activities among these players intending to upgrade the behavioral properties of plastic compounds are anticipated to drive the market in the near future.

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Biofungicides Market is Projected to Expand at a CAGR of more than 14% from 2019 to 2027

Biofungicides Market: Key Highlights

In terms of value, the global biofungicides market is projected to expand at a CAGR of more than 14% from 2019 to 2027, according to a new research report titled, ‘Biofungicides Market – Global Industry Analysis, Value, Share, Growth, Trends, and Forecast, 2019–2027’.

In terms of value, the global biofungicides market is expected to reach a value of more than US$ 730 Mn by 2027. The biofungicides market is driven by the rise in the demand for bio-based products across the globe.

North America held a significant share of the global biofungicides market in 2018. Furthermore, the biofungicides market in Asia Pacific is estimated to expand at a CAGR of more than 14% during the forecast period, owing to the increase in the demand for efficient agrochemicals the region.

Based on source, the microbial segment accounted for a key share of the global biofungicides market in 2018. Cereals & grains is estimated to be a prominent application segment in the global biofungicides market in the near future.

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Rise in the Demand for Microbial Fungicides  

Based on source, the microbial segment accounted for a prominent share in the global biofungicides market in terms of value and volume in 2018. The microbial segment is highly lucrative due to low prices, less toxicity, and easy availability in the biofungicides market.

Microbial biofungicides possess excellent performance properties for precise pathogen and pest control on targeted organisms.

Liquid Formulation Segment Gaining Momentum

Based on formulation, the dry segment holds a key share in the biofungicides market, due to the excellent properties and desirable concentration of dry formulation as per the requirement of crops.

Dry formulation can be in granular or powder form. This is the conventional method of using fungicides. It can be diluted by adding water and spray over the affected organism of crops and plants.

The liquid segment is estimated to expand at a significant pace during the forecast period, due to the instant and safe application method of the formulation.

Extensive Usage in Cereals & Grains

Based on application, the cereals & grains segment constituted a substantial share in the global biofungicides market in 2018. The need to maximize agricultural output and rise in the demand for organic food are factors driving the demand for biofungicides in the cereals & grains segment.

Conventional techniques of applying pesticides dominate the agricultural sector in most developing countries. Farmers are also unaware about the ill-effects of chemical-based fungicides, such as soil infertility and environmental pollution. This adversely affects the biofungicides market, specifically in developing nations.

Growth in the trade of fruits & vegetables and oilseeds & pulses is fuelling the need to maintain their nutrient values and quality. This is expected to increase the usage of bio-based products, such as biofungicides, in various applications such as cereals & grains and fruits & vegetables.

North America Accounts for a Substantial Share of the Biofungicides in Terms of Volume and Value

North America was a prominent region in the global biofungicides market, accounting for more than 30% share in terms of volume and value in 2018.

Rise in the awareness about the harmful effects of chemical-based agro products and increase in the demand for organic food are key factors driving the biofungicides market in the region.

The biofungicides market in Asia Pacific is anticipated to expand at a considerable pace during the forecast period.

Increase in the demand for food yield due to the ever-growing population has boosted the demand for efficient agrochemicals in the region. Thus, cost-effectiveness and excellent performance in terms of pest & pathogen control is projected to fuel the demand for biofungicides during the forecast period.

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Biofungicides Market: Competition Landscape

The global biofungicides market is highly fragmented with the presence of a large numbers of global and local players.

Major companies operating in the biofungicides market include Agri Life, Certis USA LLC, T. Stanes & Company Limited, BioSafe Systems, LLC, Biotech International Limited, Gujarat State Fertilizers and Chemicals Ltd., FMC Corporation, Bayer AG, Novozymes, BASF SE, Marrone Bio Innovations, Inc., Seipasa, LALLEMAND Inc., Evonik Industries AG, BioWorks, Inc., and Isagro USA, Inc.

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Styrene Market Industry Analysis,Growth and New Market Opportunities by 2013 - 2019

Styrene, also known by the names of “phenylethene”, “vinyl benzene” or “ethenylbenzene”, is a colorless oily organic compound and a derivative of benzene. Styrene evaporates easily and serves as a precursor to polystyrene and several other copolymers. It occurs naturally in small quantities in different foods and plants and is also found in coal tar. Various types of styrene products such as acrylonitrile butadiene styrene (ABS), expanded polystyrene (EPS), and polystyrene (PS) are used for a wide range of applications including automotive, construction, packaging and consumer goods among others. The market for styrene is highly diversified which includes various types of derivatives, each having a wide range of applications across various sectors of the market. Owing to this, large number of manufacturers present in the styrene market engages in the production of different styrene-based products for various applications. 

The global demand for styrene has been witnessing high growth on account of the emerging packaging and construction industry which has led to increasing demand for infrastructure facilities and consumer goods, especially in emerging regions such as Asia Pacific. The overall global production of styrene has been relocating to emerging economies, while developed industrialized regions such as Western Europe and the U.S. have considerably reduced their production capacities over the past few years. This trend occurred on account of the previous excessive increase in production at a time when the global demand for styrene rose at less dynamic rates or even declined during the global recession in 2008 - 09. Recent jump in benzene prices have led to various styrene manufacturers increasing the cost of their styrene products. Moreover, the collision of seasonally strong demand and low inventories with reduced styrene supply from propylene oxide/styrene monomer (POSM) facilities has further propelled styrene prices. 

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Growth in the end-user application industries such as automotive and construction is anticipated to be one of the key factors driving the global styrene market. Automotive industry has been the major end user of styrene butadiene rubber (SBR) particularly used in tire manufacturing applications. However, increasing health and environmental concerns due to usage of styrene and acceptance of other resins as substitute to unsaturated polyester resin (UPR) are expected to the hamper the growth of the market. Styrene when exposed to the atmosphere can be hazardous causing irritation to skin, eyes, respiratory system and nervous system. It emits toxic vapors and produces carbon monoxide on decomposition. Various manufacturers are planning to produce styrenic polymers in the near future with the expansion of their production facilities and increase in output. These factors are expected to provide new opportunities for the growth of the market. Asia Pacific was the largest consumer for styrene, followed by Europe. Future market growth is expected to be from Asia Pacific on account of growth in wind energy applications of UPR and increased SBR demand due to increasing tire labeling regulations. 

Alpek SAB DE CV, Ashland Inc., Bayer Materialscience, Ineos Group AG, Nova Chemicals Corporation, Royal DSM, Styron LIC, Styrolution Group GmbH, and The Dow Chemical Company are some of the key manufacturers in this industry segment. 

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