Automotive OEM Coatings Market Analysis, Size, Share, Growth, Trends and Forecast 2030

Automotive OEM Coatings Market Insights

The global automotive OEM coatings market was valued at USD 7,759.5 million in 2018 and is expected to exhibit a CAGR of 6.45% during the review period, 2019−2025. The increasing consumer preference for automotive coatings and the increase in automotive sale across the globe, especially passenger cars, are the factors largely boosting the growth of the global automotive OEM coatings market. Additionally, the demand for automotive OEM coatings is dominated by solvent-borne coating technology as of 2018, however, the increasing regulatory pressure on the use of solvent-borne coatings across the globe owing to its high VOC content may hamper the product market during the forecast period.  

Automotive OEM Coatings Market Segmental Analysis

The global automotive OEM coatings market has been segmented by application, end-use industry, and region.

By product type, the global automotive OEM coatings industry has been divided into clearcoat, basecoat, primer, E-coat, and others. The clearcoat segment held the largest market share in 2018 by value and volume due to its relatively large-scale consumption and high cost. The segment is also expected to register the highest CAGR during the forecast period.

On the basis of resin, the global automotive OEM coatings industry has been segmented into polyurethane, acrylic, epoxy, alkyd, and others. The polyurethane segment accounted for the largest share of over 45% in 2018 due to its superior performance characteristics over other resins and is also likely to grow at a significant rate in the coming years.

By technology, the global automotive OEM coatings market has been segmented into solvent-borne, water-borne, UV cured, high solid coatings, powder coatings, and others. The solvent-borne segment held the largest market share of over 50% in 2018 due to its quick drying properties and low cost. The segment’s growth is also driven by less regulatory pressure related to solvent-borne coatings in the countries of Asia-Pacific. However, water-borne technology segment is expected to exhibit the highest CAGR during the forecast period.

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Automotive OEM Coatings Market Regional Analysis

The global automotive OEM coatings market share has been studied with respect to five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.  Asia-Pacific held the largest market share in 2018 and is expected to register the highest CAGR during the forecast period. Europe accounted for the second-largest market share in 2018, which is further trailed by North America. The Latin American and the Middle East & African markets are expected to witness growth during the forecast period.

Competitive Analysis

Some of the key players operating in the global automotive OEM coatings market are PPG Industries Inc (US), Nippon Paints Holdings Co., Ltd (Japan), BASF SE (Germany), Axalta Coating Systems Ltd (US), Akzo Nobel N.V. (The Netherlands), Covestro AG (Germany), Berger Paints India Ltd (India), Kansai Paint Co., Ltd (Japan), The Sherwin-Williams Company (US), The Lubrizol Corporation (US), KCC Corporation (South Korea), and Esdee Paints Ltd (India).

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Industrial Coatings Market, Overview, Trends, Share,Analysis, Forecast to 2030

Industrial Coatings Market Overview

Industrial coatings can be made specifically keeping in mind its particular usage. The product has better traction in providing protection against wear-resistance, corrosion, and improve the aesthetic appearance. It is often a thin film that can be applied on various surfaces like steel, concrete, and other industrial materials. These films are derived from epoxy, polyurethane, alkyds, acrylic, and polyester. The coating makes the surface washable and durable. In various industries like oil-rig towers, aircraft, offshore structures, power plants, and conveyors, this product finds significant traction.

The report, as published by Market Research Future (MRFR), finds the market having a growth by 5.8% CAGR to achieve a valuation of USD 119 billion by 2025. The report considers the time between 2019 and 2025 as the forecast period. The rapid urbanization and industrial reformation can impact the growth of the market. Also, the manufacturing of home appliances and electronic gadgets creates a significant opportunity for market growth.

Industrial Coatings Market Segmentation

The global market for industrial coatings has a better segmentation that includes resin, type, and end-use industries. These Industrial Coatings market segments are loaded with data about how the market should form themselves in the coming years.

By material, the global industrial coatings industry can be segmented into acrylic, polyurethane, epoxy, alkyd, fluoropolymers, polyester, and others.

By type, the global market report covering industrial coatings can be segmented into powder, high solids, solvent, and water. Water is finding better traction as a medium to ensure that the progress remains eco-friendly.

By end use industry, the global report covers the industrial coatings market segment by having it segmented on the basis of construction, automotive OEM, marine, packaging, general industrial, wood, aerospace, and others.

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Industrial Coatings Market Regional Analysis

The global market report consists regions like the Asia Pacific as a major contributor and has assessed various moves to get hold of the demographic challenges it has and dynamics that can improve the market performance. The market had the highest revenue share in 2018. The industry is gaining significant traction in various ends user industries like automotive, general engineering, and construction industry. China has a claim to dominate the market. However, India is not far behind. With the growing rail industry, the growth of industrial coatings would be substantial. Also, a lot of Industrial Coatings companies are operating from the region, which along with Industrial Coatings contractors, can communicate better growth opportunities.

The market in the Middle East & Africa can also make significant contributions with several industries finding growth opportunities. The industrial coatings industry is going to capitalize on these opportunities. In South America, the growth can depend largely on Brazil and Argentina, who are expanding their operational scope to ensure better traction.

The markets in regions like Europe and North America have better provisions for growth where they can contribute significantly. The regional rigidity regarding VOC emission is driving the market towards innovation, which can help the market in having better growth. Countries like France, Germany, and others may have a significant impact on the market.

Industrial Coatings Market Competitive Landscape

A lot of companies have already made a name by contributing strongly to the growth of the  industrial coatings market. These companies have been noted well by MRFR for a better understanding of how companies are planning to reshape the market in the coming years. These companies are PPG Industries, Inc. (the US), Akzo Nobel N.V. (Netherlands), Kansai Paint Co. Ltd. (Japan), RPM International Inc. (US), The Sherwin-Williams Company (US), Nippon Paint Holdings Co. Ltd. (Japan), The Chemours Company (US), Axalta Coating Systems (US), NOROO Paint & Coatings Co Ltd (South Korea), Valspar (U.S.), Burke Industrial Coatings (US), Asian Paints (India), BASF SE (Germany), Industrial Nanotech, Inc. (US), and Hempel A/S (Demark).

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Flame Retardants Analysis, Growth, Overview, Trends, Demand and Industry Forecast 2030

Flame Retardants Market Overview

Fire safety is a highly critical concern that holds the capacity to cause a major impact on the lives of people and the surrounding environment. The criticality of the same makes the emergence of a solution a highly imperative requirement. Flame retardants comes-in as a viable solution to this situation.

Flame retardants refer to a variety of chemical substances that help prevent fire and slow down the ignition from spreading. They are added to combustible materials to increase their fire safety and reduce the risk of the same. It has considerably helped increase fire safety and has curbed down the destructive impact of fires on properties, people, and the environment. They are added to potentially flammable materials like textiles and plastics to prevent it from any fire hazard. These retardants are found in a wide variety of applications like cables and wires, plastics, polyurethane foam, fabrics, and others.

The Flame Retardants industry is projected to witness an impressive growth in terms of volume, i.e., million metric tons by the year 2022. The market is expected to grow at 5.86% during the forecast period. It is revealed by Market Research Future (MRFR) in its recently published market report that the burgeoning demand of flame retardants from industries such as building and construction, transportation, and electronics is anticipated to drive the growth of the market. Expanding demand from the plastic industry coupled with the latest safety-driven government regulations are the major drivers for the market.

However, flame retardants cause toxicity issues during the time of production, one which can severely affect the market growth in the near future. Additionally, alternatives like Magnesium Hydroxide (MDH) can also cause a decline in the flame retardants market.

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Flame Retardants Market Competitive Analysis

The Flame Retardants market comprises of various prominent players, including Akzo Nobel NV (Netherlands), The Dow Chemical Co (US), BASF SE (Germany), Chemtura Corporation (US), Clariant International Ag (Switzerland), China Antimony Chemicals Co. Ltd (China), Albemarle Corporation (US), and others.

Flame Retardants Market Segmentation

The global  Flame Retardants market growth segmentation is divided in terms of types, application, and end-users. 

By types, the market includes phosphorus, brominated, metal hydrate, nitrogen, chlorinated, and others.

By application, the market comprises of plastics: polyurethane foam, fabrics, cable and wires, and others.

By end-user, the market includes packaging industry, electronics, transportation, building & construction, military & aerospace industry, and others.

Flame Retardants Market Regional Analysis

The global flame retardants application market report is regionally segmented into Asia-Pacific, North America, Europe, and the Middle East & Africa.  

Asia-Pacific is the largest regional market player of flame retardants. This is primarily due to the surging demand for flame retardants in various applications such as cables and wires, fabrics, plastics, polyurethane foam, and others. Following Asia-Pacific, North America is the largest market share holder.

The remaining regions, namely Europe, Middle East & Africa, and Latin America, also witness a growth of the market because of various applications. These applications include packaging, building & construction, transportation, military & aerospace, electronics, and others.

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Plastics Market Growth Drivers, Impact Analysis, Business Overview & Market Opportunities by 2030

According to a report by Market Research Future (MRFR), the global plastics market is anticipated to exhibit a CAGR of 4.3% and to reach valuation of USD 791.2 Billion by the end of 2025. This growth is primarily attributable to the expanding usage of material across several household and industrial purposes. Additionally, continues expansion of the industries such as building & construction, electrical & electronics, automotive & transportation, packaging, and consumer appliances across developed and developing regions is estimated to fuel the global plastics market during the forecast period.

In addition to this, the recycling of fossil fuel-based plastics is witnessing surge in demand for the plastics majorly for packaging applications. Emergence of the bio-based plastics is further spurring adoption of the plastics from various end use industries, which is estimated to drive the growth of the global plastics market. Further, increasing need for reducing weight among automobiles in order to enhancing the efficiency of the vehicles are estimated to fuel the growth of the global plastics market. This trend of using plastic as an alternative to the heavy materials including ceramics, glass, and metals are projected to propel market growth during the forecast period.

However, increasing awareness about environment safety and land pollution due to plastic waste are resulting to implication of several regulations over its use, which is likely to restrain market growth during the coming years. Nonetheless, emergence of recyclable plastic is estimated to offer ray of hope of growth opportunities in the coming years.

Competitive Analysis:

Some of the major companies in the global plastics market include BASF SE, DowDuPont, SABIC, Evonik Group, Arkema Group, Sumitomo Chemicals, Eastman Chemical Company, Celanese Corporation, Chevron Phillips Chemical Co. LLC, ExxonMobil, Lotte Chemical Corporation, Formosa Plastics, Covestro AG, Mitsui Plastics, TORAY Industries, and Teijin Plastics.

Segmentation:

The plastics market is segmented on the basis of type, applications, and region.

Based on the type, the market segmented into polyethylene (PE) and polyether ether ketone. Of these, the polyethylene (PE) segment held share of the overall share almost 30% in the of the market. However, polyether ether ketone segment is estimated to expand at an eye-catching CAGR during the forecast period.

Based on application, the market is segmented into packaging, automotive & transportation, and building & construction. Of these, the packaging segment dominated the global market and is estimated to remain dominant during the coming years. This growth is attributable to the surge in demand for the recyclable plastic from the end use industries including cosmetics, consumer goods, food & beverages, and personal care. However, automotive & transportation segment is estimated to expand at a fastest CAGR during the forecast period from 2017 to 2025.

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Regional Analysis:

Regionally, the plastics market is segmented intotheNorthAmerica, Asia Pacific, Europe, and Middle East & Africa. Of these, North America is estimated to remain dominant in the global plastics market in the coming period owing to the well-established automotive industry coupled with increasing reliance over the renewable energy sources. Additionally, the ever-expanding industries such as construction and energy production in the region are estimated to benefit the market in coming years. In addition to this, the European plastics market is estimated to hold second leading share in the global plastics market.

However, the Asia Pacific region held around 50% share in 2018 and is estimated to remain dominant over the forecast period owing to increasing industrialization in the region. The industries such as automotive, consumer appliances, electrical & electronics, and construction are expanding in the region with fastest growth rate especially in the countries such as India, China, and Japan. Additionally, increasing penetration plastic especially across the southeast Asian countries are estimated to benefit the market growth.

Industry News:

In 2019, Reckitt Benckiser (RB) and Veolia announced a new joint venture to drive the shift toward a circular plastics economy. Through this partnership the Veolia is taking steps to make 100% of its plastic packaging recyclable.

In 2019, the Chemistry Industry Association of Canada (CIAC) and the Canadian Plastics Industry Association (CPIA) have announced that they are joining hands for creating a new plastics division within the CIAC. Such support from the government and governmental bodies is likely to increase penetration of recyclable plastic and finding efficient method for reusing and recycling the plastics, which is driving growth of the global plastics market.

Automotive Wrap Films Market Overview, Demand, Global Industry Share, Analysis and Growth 2030

Market Synopsis

According to the MRFR analysis, the Global Automotive Wrap Films Market was valued at more than USD 3 billion in 2018 and is expected to reach over USD 12 Billion by the end of 2025 at a CAGR of 7.5%.

The automotive wrap films are vinyl films primarily used in automobiles to enhance the original paint, overall appearance, and mobile advertisement. Automotive wrap films cover the original paint of the vehicle with the vinyl films of different colors, finish, or gloss, and sometimes with the same color of the vehicle with different finish or gloss. These types of films either partially or completely cover the exterior parts of a vehicle.

Pricing and Regulatory Analysis

In 2018, the price of automotive wrap films varied from USD 0.85 to USD 2 per square meter and is expected to witness an upward trend. However, the wrap films are much affordable than the original vehicle paint.

Some of the stringent standards and regulations for automobile films, especially for window tinting, are:

  • Australia: Visible Light Transmission (VLT) of 35% on windows other than the windscreen
  • India: In 2012, the Supreme Court of India ordered the ban on all black tint film
  • Italy: The window tinting is only permitted for rear windows and rear windshield only without any limits on films graduation
  • UK: The front windows in with no less than 70 % VLT

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Segmentation

By Type

  • Cast Film: The cast automotive wrap films are the thin, glossy, and much durable type of vinyl films widely used as a vehicle wrap. They have excellent durability owing to its vast formulation variables along with the unique production method, which extends finish, gloss, and life of an original paint of a vehicle. The segment accounted for the largest market share of more than 60% in 2018, which is mainly due to its excellent physical properties such as low internal tension or shrinkage and ability to maintain its color and gloss for longer. The cast automotive wrap films are mainly used in passenger cars.
  • Calendered Film: The calendered automotive films have derived its name from the manufacturing process, wherein the heated steel rollers form the vinyl into a thin sheet by a process called calendaring. This is the most common method of producing vinyl films of economy grade applications such as general signage and medium- to short-term exposure application. These types of automotive wrap films are mainly used in commercial vehicles for advertisement purpose.

By Function

  • Window Tints: This one of the substantial applications of the automotive wrap films. The window tints or films can be installed on the interior or exterior of the glass surface of a vehicle for privacy and protection. These films on windows can prevent excessive heat generation inside the vehicle by reflecting up to 70% of the solar energy.
  • Decorative: The automotive wrap films are effectively used to enhance the aesthetics of a vehicle by applying the wrap films of different colors, finish, and gloss. The primary factor favoring the healthy growth of the segment is the current trend of vehicle customization and modification.
  • Protective: Some of the major protective applications of the automotive wrap films are paint protection and scratch resistance, wherein it protects the original paint of the automobile from yellowing, UV rays, scratch, and dust particles.
  • Advertisement: It is the fastest-growing segment in the market. This is primarily due to increasing focus on outdoor and mobile advertising, which can effectively connect with the large number of people.

By Vehicle Type

  • Cars: The cars or passenger cars segment held the largest market share of more than 45% in 2018. The dominance of the segment at present is mainly attributed to the surging demand for passenger cars in emerging economies. The automotive wrap films are widely used in passenger cars for paint protection, window tinting, apart from the decorative purpose. This is expected to drive the growth of the segment during the assessment period.
  • Light Commercial Vehicles (LCV): The LCV are rapidly gaining popularity for mobile and outdoor advertisement. It is the fastest-growing segment due to the increasing focus on mobile advertising. Light-duty vehicles and buses are widely used for advertising purpose.
  • Heavy/Medium Commercial Vehicles (H/MCV): The H/MCV’s are mainly used for advertisement application.

By Region

  • North America: Market growth is driven by the well-established automotive industry
  • Europe: Germany is the largest contributor to the regional market growth owing to the growing automotive aftermarket.
  • Asia-Pacific: The largest and fastest-growing regional market for automotive wrap films.
  • Latin America: A small but growing automotive industry is likely to fuel the demand for wrap films in the coming years.
  • Middle East & Africa: High growth potential of the automotive aftermarket may drive the regional market growth during the forecast period.

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Masterbatch Market Analysis, Growth, Overview, Trends, Demand and Industry Forecast 2030

Masterbatch Market Overview

The global market for masterbatch is set to reach USD 11,903.45 million by the end of 2023, asserts Market Research Future (MRFR). MRFR analysis also concludes that the global market is expected to grow at a CAGR of 5.54% during the forecast period (2018-2023). The future of the global market is likely to be lucrative owing to opportunities in numerous end-use industries, which include packaging, building and construction, consumer goods, transportation, electrical and electronics, and textile. Moreover, growing demand for plastic as substitutes for various materials like metal, concrete, and steel in various end-use industries has worked tremendously in favor of the market. Further, emerging trends like increasing demand of anti-shrinkage and flame retardant masterbatches for polypropylene (PP) pipes and polycarbonate (PC) sheets have had a direct impact on the dynamics of the global market, propelling the market growth.

On the flip side, strict government regulations to counteract the production of non-biodegradable materials are presumed to curb the market growth. However, looking at the current market scenario, it is safe to say the market is well on its way to higher levels on account of shifting consumer trend from sedentary to a healthier lifestyle. This trend, in particular, gives rise to growing demand in the packaged food and other retail products, as it helps address various concerns regarding unhealthy packaging like contamination of contained food. 

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Masterbatch MarketVendor Landscape

Schulman, Inc., Cabot Corporation, Clariant, PolyOne, Plastika Kritis S.A., Ampacet Corporation, Americhem, Inc., Astra Polymers, ALOK, Hubron International, GABRIEL-CHEMIE Group, Prayag Polytech, DongGuan HengCai Plastic Pigment Ltd., Plastiblends, POLYPLAST, GCR Group, Tosaf, and RTP Company are some of the key market participants. Mergers and acquisitions are commonly witnessed in the market with major companies using it to expand their reach in developing countries.

Global Market for Masterbatch: Segmental Analysis

MRFR’s report provides a detailed segmental analysis of the market on the basis of type, application, end-use industry, and region.

By type, the global masterbatch market size is segmented on the basis of color, white, black, and additive. Among these, the color masterbatch segment captured the largest share of the market in 2017 and projected to value USD 4202.4 million by the end of 2023. One of the main factors responsible for this growth is the excellent color distribution of color masterbatch throughout the final plastic product. Moreover, color masterbatches are easy to store, feed, and handle, when compared to powdered form pure colorants, a characteristic likely to propel its demand and drive the market growth.

By application, the market is segmented on the basis of packaging, consumer products, building and construction, automobile industry, electrical and electronics, and others. Among these, the packaging application segment accounted for 38.90% of the market in 2017. The segment is holding its position among all segments on account of shifting trends in favor of using packaged consumer products. On the other hand, the automobile industry segment is expected to grow at the highest CAGR of 6.14% throughout the forecast period, due to the growing preference for engineered plastics which is deemed to be a strong and effective alternative to various metals, such as aluminum, steel, and other metal alloys, in the automotive industry.

Masterbatch Market Regional Outlook

The global masterbatch market report has been studied with respect to five key regions – Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia Pacific dominated the global market in 2017 with a 42.78% share and expects to reach USD 4,782.10 million by the end of 2023. The market in the region is presumed to grow at a modest CAGR of 6.13% on account of increasing demand for masterbatch in the packaging industry. Moreover, the growth trajectory can also be attributed to demand from the established automotive and transportation industry in the region. Rising consumer awareness coupled with favorable government initiatives in developing economies such as China, India, Malaysia, and South Korea have fueled the market growth as well.

On the other hand, North America is projected to be the second-largest masterbatch market, with the United States (U.S.) ruling the regional market. This position has been achieved due to the substantial growth in automotive, packaging and consumer goods industries. Hence, strong establishment of industries and strong presence of market players in the region have resulted in the remarkable performance of the market.

Europe is another substantial market where economies such as Germany, the UK, France, Italy, and Russia play significant roles in adding to this growth. Meanwhile, the markets in Latin America and the Middle East & Africa claimed relatively smaller shares of the global masterbatch market in 2017 due to undeveloped infrastructures, slow economic growth as well as slow industrialization.

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Ammonium Sulfate Market Analysis, Size, Share, Growth, Trends and Forecast 2030

Ammonium Sulphate Market Overview:

Ammonium Sulphate is an organic compound composed of 24% Sulphate ions and 21% nitrogen in the form of ammonium ions. It is primarily used as a fertilizer for alkaline soils because ammonium ions lower the pH value of soil. Moreover, its ability to be used as a food additive and purification agent are the major trends and factors affecting the market confidently. Therefore, they are used in various applications such as fertilizers, food additives, industrial, and others.

Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of ammonium Sulphate market. Detailed analysis is explained and given importance to with best working models.

The ongoing market trends of ammonium Sulphate market size and the key factors impacting the growth prospects are elucidated. With increase in the trend, the factors affecting the trend are mentioned with perfect reasons. Top manufactures, price, revenue, market share are explained to give a depth of idea on the competitive side.

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Ammonium Sulphate Market Segmental Analysis:

Global Ammonium Sulphate industry value is segmented into the product and application. On the basis of the product, the market is further categorized into solid and liquid segments. Among these, the solid segment holds a majority of the market share due to its water-soluble ability and can be obtained as finely crushed particles. It is predicted that the liquid segment is set to grow at a moderate rate due to its limited use in the end-use industries.

The market by application is further categorized into fertilizers, food additives, industrial, and others. Among these, the fertilizers segment accounts for major share of the market owing to growing popularity of nitrogen Sulphate in agriculture, textiles, coatings, and other sectors. The growing adoption of additives in food & beverages is set to grow at a higher CAGR in the market as they provide exceptional taste to the product. Moreover, the industrial segment is estimated to witness a significant growth in the market due to increasing demand for fertilizers in agriculture and others.

Ammonium Sulphate Market Regional Analysis:

ammonium sulphate market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing consumption of ammonium Sulphate in fertilizers, food additives, industrial, and others. The fertilizers segment holds the major portion and is anticipated to continue its dominance in the market due to increasing demand for Sulphate fertilizers in the end-use industries, during the forecast period. Therefore, countries such as China, Indonesia, and India are the major players in this market.

The North America region has witnessed a stagnant growth due to extensive consumption of ammonium Sulphate in the end-use industries. The presence of toxic materials in the product has propelled countries such as the U.S., Canada, and Mexico to achieve a moderate growth in the market as they are hazardous to human beings. Moreover, it is predicted that growing Sulphate deficient soils in the region are likely to drive the market during the forecast period.

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Bio-based Platform Chemicals Market, Global Industry Share, Growth, Overview and Analysis 2030

Global Bio-based Platform Chemicals Market Overview

The latest analysis was conducted by Market Research Future (MRFR) on Bio-Based Platform Chemicals. As per their report, the global bio-based platform chemicals market is expected to showcase a strong growth trajectory over the next few years. The bio-based platform chemicals market is expected to exhibit a 12.67% CAGR over the forecast period.

Increasing awareness of the environment has propelled the adoption of sustainable materials. Such rising utilization of sustainable materials is a primary factor contributing to the ascension of the global bio-based platform chemicals market. Furthermore, bio-based platform chemicals have a vast scope for application in the manufacturing sector. Pharmaceutical solvents, as well as perfumes, contain bio-based platform chemicals, among other consumer products. A rising disposable income has led to higher demand for such products, which, in turn, is promoting a higher growth rate in the global bio-based platform chemicals market size.

Governments have initiated various regulations curbing the use of petroleum-based chemicals, creating many growth avenues for the bio-based platform chemicals market. Further, the introduction of various policies in favor of eco-friendly products is contributing heavily to the ascension of the bio-based platform chemicals market. However, the capital and energy-intensive nature of bio-based platform chemicals have created many challenges for market vendors in the market.

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Bio-based Platform Chemicals Market Segmentation

The bio-based platform chemicals market forecast is analyzed in detail for different types of bio-based platform chemicals as well as their applications in different commodities and industries. The global bio-based platform chemicals have a vast range of application in the manufacturing of polymers, solvents, pharmaceuticals, fuels, and perfumes. The production of polymers in on the rise and is demanding the highest amount of bio-based platform chemicals over the forecast period. This booming consumption of bio-based platform chemicals in the manufacture of the polymer can be attributed to the fast depletion of fossil fuel-based chemicals. Further, strict regulations have been introduced by the government on fossil fuel-based chemicals, which have encouraged polymer manufacturers to shift towards the use of bio-based platform chemicals. The demand for bio-based platform chemicals, for the production of polymers, is expected to expand at 13.74% CAGR over the assessment period.

Bio-based Platform Chemicals Market Detailed Regional Analysis

The global bio-based platform chemicals industry is studied for various regional segments of Asia Pacific, Latin America, North America, the Middle East & Africa, and Europe. Among these segments, the APAC region is estimated to lead the global bio-based platform chemicals market. At the beginning of the review period, Asia Pacific held approximately 41% share of the global bio-based platform chemicals market. Asia Pacific is expected to witness a 13.79% CAGR over the forecast period. This can be attributed to the renewable feedstock and the introduction of favorable government regulations encouraging the adoption of bio-based platform chemicals. Further, research and development are highly supported by governments residing in the region to promote the use of bio-based platform chemicals. Europe and North America are expected to follow the APAC region and exhibit fast-paced growth in the bio-based platform chemicals market.

Bio-based Platform Chemicals Market Key Players

Some distinguished market vendors are mentioned in the report by MRFR including  BASF SE, Mitsubishi Chemical Corporation, Itaconix PLC, GC Innovation America, AVA Biochem AG, Zhejiang Guoguang Biochemistry Co. Ltd, Reverdia, BioAmber Inc., Qingdao Kehai Biochemistry Co. Ltd., Braskem, Cargill Incorporated, GFBiochemicals Ltd, Royal DSM NV, and LyondellBasell Industries NV.

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Paints and Coatings Market, Overview, Trends, Share,Analysis, Forecast to 2030

Paints and Coatings Market Synopsis:

Market Research Future (MRFR)’s analysis projects that the global Paints and Coatings Market is set to expand at 5.06% CAGR during the forecast period 2017 to 2023. The valuation of the global market is likely to reach USD 190167.5 Mn by the end of 2023 from USD 135542.6 in 2017. Paints and coatings have developed application across various industries such as automotive, marine, aerospace, etc. and is highly in demand as it offers adhesion, durability, high corrosion & abrasion resistance, etc. This is likely to catapult the paints and coatings market on an upward trajectory for the next couple of years.

The rising count of infrastructural projects across the world in both industrial and architectural sector is another major factor responsible for the expansion of the global paints and coatings market. The market looks attractive, and investments are likely to flow towards the development of eco-friendly paints and coatings. It is anticipated to open new avenues of growth opportunities for the participants of the paints and coatings market size.

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Paints and Coatings Market Competitive Dashboard:

Some of the key players profiled in the report are 3M, TIGER Coatings GmbH & Co. KG, Guangzhou Kinte Paints & coatings, Vitracoat America, Dai Nippon Toryo Co., Ltd, Jotun Group, The Sherwin-Williams Company, Kansai Nerolac Paints Limited, Diamond Vogel, Berger Paints India Limited, National Paints Factories, Hentzen Coatings, Inc., Axalta Coating Systems Ltd, and AkzoNobel N.V.

Paints and Coatings Market Competitive Dashboard:

Some of the key players profiled in the report are 3M, TIGER Coatings GmbH & Co. KG, Guangzhou Kinte Paints & coatings, Vitracoat America, Dai Nippon Toryo Co., Ltd, Jotun Group, The Sherwin-Williams Company, Kansai Nerolac Paints Limited, Diamond Vogel, Berger Paints India Limited, National Paints Factories, Hentzen Coatings, Inc., Axalta Coating Systems Ltd, and AkzoNobel N.V.

High-temperature coatings are extensively used for industrial manufacturing which involves freezing and hot processes. The rapid industrialization is poised to influence the growth of the paints and coatings market positively over the projection period. Meanwhile, the high costs associated with the raw materials are estimated to restrict the market expansion over 2023.

Paints and Coatings Market Segmentation:

By substrate type, the paints and coatings industry has been segmented into non-metals and metals.

By type, the Global COVID-19 analysis on paints and coatings market report has been segmented into polyester, epoxy-polyester hybrid, epoxy, acrylic, polyurethane, polyolefin, polyamide, and others.

Paints and Coatings Market Regional Analysis:

The global paints and coatings market, by region, has been segmented into Asia Pacific, the Middle East & Africa, Latin America, North America, and Europe. Asia Pacific resonates strong opportunities for growth and is estimated to strike the highest CAGR of 5.41% over the assessment period. The presence of fast-developing economies such as India and China are anticipated to expedite the momentum of the market growth in the upcoming years. The rising disposable income, elevated standard of living, increasing disposable income are some of the crucial factors that are responsible for catalyzing the proliferation of the paints and coatings market in the foreseeable future. The initiatives undertaken by the governments in the region for uplifting the infrastructural facilities is another important aspect responsible for the swift proliferation of the paints and coatings market during the forecast period.

North America is likely to exhibit substantial growth over the next couple of years owing to initiatives undertaken for revamping the construction industry in the region. Europe, also, is poised to grow at a healthy pace through the review period. The growing investments in research & development activities associated with the eco-friendly paints and coatings are projected to augment the paints and coatings market in the region.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of market and industries. Cordially get in touch for more details.

Foam Glass Market Growth Drivers, Impact Analysis, Business Overview & Market Opportunities by 2030

Market Forecast

The Global Foam Glass Market is expected to grow at a CAGR of 5.8% during the forecast period and cross USD 2.5 Billion by 2025.

Foam glass insulation is a rigid insulating material composed of sealed glass cells. This inorganic, all-glass, closed-cell structure provides an unmatched combination of physical properties ideal for the building application. Glass insulation products supports commercial and residential architecture and building projects which is driving the product demand.

Pricing Analysis

The foam glass insulation products are comparatively higher than other insulation production owing its manufacturing cost. The foam glass manufacturing machines are expensive which increases the price of foam glass. Moreover, the cost of installation of foam glass is also costly owing to the fragile nature of foam glass.

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Segmentation

By Type

  1. This segment is divided into open-cell foam glass and closed-cell foam glass. They are classified based on whether they have closed pores or open pores, with a gradual gradation from almost completely closed pores to almost completely open pores. Their fragility increases with the increase in open pores, but it also enhances its acoustic dampening abilities.
  2. Closed-cell foam glass is the larger market segment and has excellent heat insulation properties. It is used in manufacturing industries, in transportation (especially of oil), in chemical industries due to their high corrosion resistance and in buildings due to their heat insulation properties. Open-cell foam glass is used when sound dampening is required, especially in industries that use heavy machinery that generate noise.

By End-Use

  • The industrial use of global foam glass market is the fastest-growing segment, largely due to the developing manufacturing industries in the Asia-Pacific region which are driving the market for it.
  • Offering unparalleled heat and sound insulation and resistance to chemical corrosion, foam glass finds utility in industries which use heavy machinery, require regulated heating, utilize corrosive chemicals and use cryogenic technology. Foam glass also finds wide utility in buildings and infrastructure where their use decreases heat dissipation by 25% and provides excellent noise cancellation.

By Process

  • The chemical process of manufacturing foam glass is the predominant market within this segment. Chemically produced foam glass is easier to manufacture though it has lower porosity than the foam glass manufactured by a physical process. Chemically manufactured foam glass is made in various degrees of thickness with variable applicability.
  • The physical manufacture of foam glass ensures a very high degree of porosity making it an excellent sound dampener but also increasing its fragility. It has specific applicability in sound dampening. Its manufacture depends on the availability of cathode ray tubes.

By Application

  • The use of foam glass in buildings and industries is increasing due to its excellent heat and sound insulation properties. Moreover, foam glass is manufactured in a variety of widths and densities ensuring enhancement of their desired properties and proliferating the specificity of their applicability. Foam glass is also remarkably resistant to chemical corrosion and this finds utility in the transportation of hazardous chemicals as well as in chemical manufacturing and storing plants.

By Region

  • North America: Market growth is driven by the high production of oil in the region. Increasing the application of foam glass insulation in oil refineries
  • Europe: A well-established market. Increase in processed food manufacturing industries has increased in the region which requires foam glass for supporting machine and equipment.
  • Asia-Pacific: The largest and fastest-growing regional market. Increase in foam glass insulation in residential building is expected to drive demand
  • Latin America: The region is the largest producers of computers, automotive and oil. High insulation demand from manufacturing industry propelling regional growth
  • Middle East & Africa: High oil and gas exploration activities in the region requires a large number of oil & gas refineries for processing and treating oil which is positively influencing the foam glass insulation demand.

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