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isocyanates market trends 2020 Share Evaluation, Upcoming Investments, Recent Developments, Innovations 2027
April 29, 2022 5:33 - no comments yetMarket Synopsis
As per the analysis conducted by Market Research Future (MRFR), the global isocyanates market is estimated to procure the market value of USD 37,906.6 million, while growing at a CAGR of 7.03% during the evaluation period from 2020 to 2027. The extensive application of diisocyanate in methylene toluene diisocyanate (TDI) and diphenyl diisocyanate (MDI) is estimated to be one of the most significant factors expanding the global isocyanates market in 2027.
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The growing demand for energy-efficient and lightweight construction materials is likely to enhance market growth during the forecast period. Further, the growing environmental concerns are projected to increase the demand for rigid polyurethane foams globally. The market is also anticipated to benefit from the development of high-efficiency bio-based isocyanates, along with the increasing investment in R&D. In addition, the fast expansion of the flourishing building and construction industry, with the rising demand for residential construction, is projected to be a significant factor in market growth during the forecast period. Besides, the increased demand for primary end-use industries like furniture, automotive, building and construction, and electrical and electronics are anticipated to fuel the market at a global front. Also, the emerging economies are projected to play an efficient role in fueling the market in the forthcoming period.
Market Segmentation
The segment analysis of the global Isocyanates Market trends is done by type, application, and end-use.
The type-based segments of the global isocyanates market are aromatic diisocyanates, aliphatic, and others.
The application-based segments of the global isocyanates market are rigid foam, flexible foam, paints & coatings, adhesive & sealants, elastomers, binders, and others
The end-user based segments of the global isocyanates market are building & construction, furniture, automotive, packaging, electronics, footwear, and others.
Regional Analysis
Based on the region, the global market for the isocyanates market is segmented into Europe, Asia-Pacific, North America, Latin America, and the Middle East and Africa.
As per the analysis, the APAC region dominated the global market by acquiring a notable market share of 47.80% in 2017. Further, the region is projected to expand at the highest CAGR with a substantial market value of USD 18,800.4 million by 2023. The presence of developing countries like India, China, Japan, and their constant effort to advance their countries with strapping urbanization and industrialization are predominant factors strengthening the regional market. Further, the magnification of industries such as automotive in India and China is predicted to boost the regional market efficiently. Also, the growing disposable income in developing countries is estimated to strengthen the regional market further.
The second position is projected to be taken by Europe. Europe acquired a market value of USD 5,788.0 million in 2017 and propelled at a significant CAGR. The market may be negatively impacted owing to the strict environmental regulations and sluggish growth in end-use industries.
North America is likely to witness a decent record during the forecast period owing to the increased regulatory intervention from agencies such as EPA regarding environmental and health impact associated with MDI and TDI.
On the other hand, the MEA is estimated to procure the least market share owing to the presence of underdeveloped economies.
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Key Players
The renowned players of the global isocyanates market are Metsui Chemicals America, Inc., Asahi Kasei Corporation, Evonik Industries AG, DowDuPont, Inc., LANXESS, Tosoh Corporation, BASF SE, Covestro AG, Wanhua Chemical Group Co. Ltd, Vencorex, Cangzhua Dahua Group Co. Ltd, Huntsman International LLC, Komho Mitsui Chemicals Corp, Ltd, Anderson Development, and China National Bluestar (Group) Co.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Sheet Molding Compound market size 2020-2027: Analysed by Business Growth, Development Factors
April 29, 2022 5:08 - no comments yetSheet molding compounds (SMC) or sheet material compounds are malleable sheet material produced from compression or injection molding. Properties of electrical insulation, surface appearance, and superior mechanical properties will fuel the demand for this process. The global sheet molding compound market report by Market Research Future (MRFR) contains an in-depth analysis of the industry as well as highlighting drivers, trends, and opportunities for the period of 2020 to 2027 (forecast period).
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Market Scope
The global sheet molding compound market size can reach a value of USD 2,042.4 million by 2027. It is predicted to display a CAGR of 4.79% over the forecast period. It can find massive demand and growth owing to its utilization for the production of industrial parts in various end-use industries. Production of composite materials is predicted to work in favor of the market. Emission regulations for the automotive industry which has led to the manufacture of lightweight components will lead to constant demand in the global market.
Initiatives by SMC manufacturers for creating guidelines for ensuring sustainable practices and encouragement of innovation can positively impact the market. The role of these compounds in lowering vehicle production costs will be beneficial to the market. The emergence of low-volatile organic compounds (VOC) or no-VOC formulations has led to changes in formulations of SMCs and will make an indelible impact during the forecast period.
Segmentation
The global Sheet Molding Compound Market size is segmented by type and application.
By type, the market is segmented into general purpose, electronic insulators, flame resistance, corrosion resistance, and others. The flame resistance segment is expected to exhibit a stellar growth rate owing to applications in construction and automotive sectors. However, the electronic insulators segment can touch a demand of 364 kilotons by 2023 due to its use in electric applications.
By application, the sheet molding compound (SMC) market is segmented into automotive, building & construction, electrical & electronics, and others. The automotive application will lead in the global market owing to stringent policies imparted on the automotive industry. Production of spare parts such as headlight liners and valve covers can fuel the demand for SMCs till the end of the forecast period.
Regional Analysis
Regions analyzed in the global market report include – North America, Latin America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The APAC sheet molding compound market is poised to touch a value of USD 716.5 million by 2027. Large popularity of passenger vehicles in India, China, and Thailand coupled with improved living standards and disposable income levels of customers can fuel the market demand. Rising inclination towards electric and hybrid vehicles owing to awareness of regulations on high carbon emission levels will provide the region a much-needed impetus. The region can be accountable for 631.9 KT by 2027.
North America accounted for 29% share in 2020, trailed by Europe at 24.4%. Procurement of automobiles by high-net-worth individuals (HNWIs) will bolster the demand for SMCs. In addition, the reduced prices of carbon-fiber SMCs for commercial vehicles will be a plus for the regional market.
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Competitive Outlook
Huayuan Advanced Materials Co., Ltd., IDI Composites International, Changzhou Tianma Group Co., Ltd., Continental Structural Plastics Inc., Zhejiang Yueging SMC & BMC Manufacture Factory, Polynt, Zhejiang Sida New Materials Co., Ltd., Jiangsu Zhaojun New Material Co., Ltd., Beijing New Friend Insulation Material Co., Ltd., Zoltek Corporation, Showa Denko K.K., Molymer SSP Co., Ltd., Core Molding Technologies, Menzolit, Changzhou City Jianghsi Composite Technology Co., Ltd., Devi Polymers Private Limited, DIC Corporation, and others are some of the notable players profiled in the global sheet molding compound market.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Neopentyl Glycol Market Share | Growing Popularity and Emerging Trends in the Industry By 2027
April 29, 2022 4:59 - no comments yetThe global neopentyl glycol market is segmented by type, application, end-use industries, and region. Neopentyl glycol is available in various types including flakes, molten, and slurry. The type to be used is determined on the basis of the conditions specified for manufacturing and application. The molten type neopentyl glycol is used in saturated polyesters, unsaturated polyesters, and esters for powder coatings, gel coats, and reinforced plastics, and synthetic lubricants respectively. The molten form is leading the market due to its wide consumption for manufacturing powder coatings, which emit less VOC. The slurry or suspension form is 90% neopentyl glycol by weight in water and is transported at a temperature ranging from 50–70ºC. The slurry form allows rapid esterification and high chemical & thermal stability. The neopentyl glycol flake is shipped at below 30ºC to prevent cake formation.
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The application segment includes coatings, adhesives & sealants, insulation, plasticizers, fibers, agrochemicals, fuel additives, dyes, emollient, and others. Among these applications, the coatings emerged as the leading segment due to high demand from construction, automotive, aerospace, shipbuilding, and other industries. This can be attributed to the corrosion resistant nature and high thermal stability of neopentyl glycol. The demand for neopentyl glycol based adhesives & sealants is increasing due to their durability, stability, moisture & chemical resistance, and heat-resistant properties. Moreover, its usage in automotive insulation and agrochemicals is another factor propelling the product demand.
On the basis of the end-use industries, the market is segmented into paints & coatings, automotive, construction, chemicals, plastics, textiles, pharmaceuticals, cosmetics & personal care, and others. The paints industry is dominating the market owing to its use for applications such as powder coating, can & coil coating. The product is highly consumed for the manufacturing of adhesives & sealants and additives used in construction and automotive, which is expected to drive the market growth further. Also, it is used as a dye in the textile industry, which is likely to augment its demand over the review period. Growing opportunities for the product in pharmaceuticals such as the production of ibuprofen drug for generic diseases are likely to propel the market growth. The increasing penetration of personal care products as skin-conditioner and viscosity increasing agent is projected to augment the market growth over the assessment period.
Regional Analysis
Regionally, the global Neopentyl Glycol Market Share is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific was leading the global neopentyl glycol market in 2020 on account of the high demand for manufacturing paints & coating, which are further used in automotive and construction industries. Moreover, the rising demand for neopentyl glycol in agrochemicals, textiles, and personal care products is expected to spur the market growth during the forecast period 2020-2027.
The high demand for neopentyl glycol as an additive in the powder coatings for resistance and stability led the North American market in 2020.
The European market is projected to witness a moderate growth due to the demand from automotive production in Western Europe.
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Competitive Analysis
Some of the manufacturers operating in the global neopentyl glycol market are BASF SE (Germany), Celanese Corporation (U.S.), Eastman Chemical Company (U.S.), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), and Shandong Dongchen New Technology Co,Ltd. (China).
Intended Audience
- Neopentyl glycol Manufacturers
- Traders and distributors of Neopentyl glycol
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Zinc Stearate Market Key Current and Future Trends, Regional Forecast 2027
April 29, 2022 4:44 - no comments yetThe latest research report from Market Research Future (MRFR) profiles the global zinc stearate market and provides a detailed overview of the market’s likely growth trajectory over the forecast period till 2027. The major drivers and restraints affecting the global zinc stearate market are profiled in detail in the report to provide readers a clear overview of what is affecting the market most significantly. The leading factors affecting the market positively as well as negatively are profiled in the report, providing readers a clear view of the market’s movement. Major players operating in the global zinc stearate market are also profiled in the report.
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Zinc stearate has various industrial applications, including as a separating agent, water repellant, gelling agent, and stabilizing agent. The growing demand for stabilizing and water repelling agents in the rubber industry is likely to remain a major driver for the global zinc stearate market. The rubber industry has grown rapidly over the last few years due to the growing demand for rubber compounds in the growing automotive industry. Rubber is used in the production of pneumatic tires and is a vital component in the automotive industry. Various types of rubber compounds are used in the automotive industry due to the growing demand for synthetic rubber tires, leading to a growing demand for accessory chemicals such as zinc stearate. The growing automotive industry is likely to be a major driver for the global rubber industry, and thus for the zinc stearate market over the forecast period. The growing production of passenger and commercial vehicles in Asia Pacific is likely to be a major driver for the global zinc stearate market.
The growing use of zinc stearate as a color enhancer in the plastics industry is also likely to remain a major driver for the global zinc stearate market over the forecast period. Plastics have become a major industrial product in the modern age and are used in a number of manufacturing applications. Colors used in the plastics industry need to be long lasting as well as environmentally viable, leading to a growing demand for color enhancers from the plastics industry. The growing plastics industry is thus likely to be a major driver for the zinc stearate market over the forecast period.
Segmentation:
The global Zinc Stearate Market is segmented on the basis of application, end use, and region.
By application, the global zinc stearate market is segmented into release agent, thickening agent, emulsifier, and others.
By end use, the global zinc stearate market is segmented into rubber, plastics, paints and coatings, pharmaceuticals, cosmetics, paper, construction, and others. The rubber and plastics segments are likely to remain the major consumers of zinc stearate over the forecast period. The rubber industry holds the largest share in the global zinc stearate market, accounting for 26% of the global market in 2016. The plastic industry follows rubber in terms of the consumption of zinc stearate. The paints and coatings industry is also a key consumer of zinc stearate and is likely to retain a strong share over the forecast period.
Competitive Leaderboard:
Leading players in the global zinc stearate market include Nimbasia, Linan Huali Plastic Co. Ltd., Pratham Stearchem Pvt. Ltd., Nikunj Chemicals, Norac Additives, Valtris Specialty Chemicals, Peter Greven GmbH & Co KG, Faci Asia Pacific Pte Ltd., Baerlocher GmbH, and Dover Chemical Corporation.
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Regional Analysis:
Asia Pacific holds the largest share in the global zinc stearate market and is likely to remain the leading revenue generator over the forecast period. The growing automotive industry in Asia Pacific is likely to remain a major driver for the zinc stearate market in the region, as this has driven the demand for rubber tires. Growing production of automobiles in China, India, and South Korea is likely to be a major driver for the global zinc stearate market over the forecast period. Europe is also a major regional market for zinc stearate due to the growing automotive industry in the region.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Market Research Future®
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Wind Turbine Composites Market Exclusive Trends and Growth Opportunities Analysis to 2027
April 29, 2022 4:05 - no comments yetOverview:
Wind turbine composites market is fast gaining popularity as many countries are opting for renewable energies to abide by the environmental laws. The onus is now on the global leaders and industry heads to get sustainable energy source as their driving force which is why wind energy is receiving thrust and consequently, wind turbine composites market is becoming the choicest option as they provide resilience and tensile strength to equipment and blades that increases performance of the turbine. Moreover, these composites are of low maintenance, have corrosion resistance, and increase product life which is why the global wind turbine composites market is expected to achieve unprecedented CAGR during the forecast period (2020-2027), reveals Market Research Future (MRFR) in an extensive study that covers in-depth analysis of drivers and segments. Apart from its features as its chief driving force, offshore possibilities and its impact on optimal capitalization of the source can be considered as factors that can influence a wind turbine composites market prospect. Furthermore, modification in designs can also enhance the efficacy of wind turbines which is providing enough tailwind to the composites to prove their market worth.
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Industry Trend:
Saertex is planning to launch glass-fiber reinforcement as a part of their latest innovation which can considerably increase the tensile strength of the material used in wind turbines. This will better the performance of wind turbine rotor blades.
Hexion Inc.'s tackifying spray system and epoxy bonding paste & resin repair kit are also expected to prove its worth in rotor blade production. The spray PR687g is eco-friendly and lowers in-plant air emissions.
Segmentation:
The global Wind Turbine Composites Market can be segmented by fiber type, resin, process, and application.
By fiber type, the wind turbine composites market can be further segmented into glass, carbon and other segments. Glass is currently leading the pack by generating the maximum share of the market revenue. Its cost-effective nature and applicational feasibility make it a market favorite.
Resin-wise, the wind turbine composites market includes epoxy, polyester, vinyl ester, polyurethane, and others. Epoxy resin segment is currently spearheading the market by generating demand in the manufacturing of the wind turbine blades.
Based on the process, the wind turbine composites market comprises vacuum injection molding, prepreg, and hand lay-up segments. Vacuum injection molding is eco-friendly, and its flexibility fulfills the functional criteria of blades, tower, and others.
Application-based segmentation of the wind turbine composites market consists blades, nacelles, hub, tower, and others. At the moment, blades segment is the clear trailblazer.
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Market Insight:
The global wind turbine composites market is gaining considerable ground owing to strategies implemented by companies that include mergers, acquisitions, product launch, and other methods. For instance, TPI Composites got its manufacturing deal extended for another two years by Vestas. Owens Corning entered into a partnership with Chongqing Polycomp International Corp. (CPIC) to produce high-modulus glass fibers in China. On the other hand, as per Sandia National Laboratories, 3D printing of blades can become the future.
Some of the prominent players operating in the global wind turbine composites market are Vestas (Denmark), LM Wind Power (Denmark), Siemens AG (Germany), AVIC Huiteng Windpower Equipment Co Ltd (China), TPI Composites (U.S.), Gamesa Corporation Technology (U.S.), Suzlon Energy Limited (India), Lianyungang Zhongfu Lianzhong Composites Group Co.,Ltd (China), AREVA (France), Molded Fiber Glass Companies (U.S.), and others.
Regional Analysis:
Regionally, wind turbine composites market spans across five regions namely Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The APAC is acting as the market bellwether. The region is showing a gradual increase in implementation of lightweight materials in wind turbine installation system. Glass fibers are gaining traction in countries such as China, Japan, and India who are also chief market contributors. Favorable government policies are also supporting nations in approving the developments further.
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North American market is also growing significantly, and demand is being generated mainly by the end-user industries from countries such as the U.S., Mexico, and Canada. However, shale gas production can prove to be a market deterrent. The European market is currently witnessing a remarkable growth owing to the regulations made by governments to make renewable energy more acceptable across myriad industries. The U.K., France, Germany, and Italy are going to benefit the most from this advent of technologies.
The MEA is the emerging region with Saudi Arabia, Kuwait, and UAE fast adopting the technology and triggering a rapid growth. The LATAM is experiencing an uptick in the adoption of renewable energy. The scarcity of hydrocarbon is pushing industries towards ameliorating themselves with wind energy.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future®
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