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Ferrite Magnetostrictive Material Market - Forecast (2023 - 2028)

Ferrite magnetostrictive material market size is forecast to reach US$8.7 billion by 2026, after growing at a CAGR of 9.1% during 2021-2026. Ferrites are ceramic materials that have many applications in electronics, including ultrasonic radiators, magnetic stress sensors, and more. The global ferrite magnetostrictive material market has witnessed tremendous growth in the past few years as it possesses properties such as high reliability, high longevity, high accuracy, and long working life which make it feasible for end-users such as wastewater treatment facilities, pharmaceutical producers, manufacturers of consumer products, and more. Moreover, increasing demand for efficient healthcare facilities is expected to bring impetus opportunities for the ferrite magnetostrictive industry. However, the availability of other magnetostrictive materials such as iron, cobalt, nickel, rare earth materials, and more are projected the restrain the ferrite magnetostrictive materials market during the forecast period.

COVID-19 Impact

The virus epidemic has ravaged the worldwide industrial market, resulting in economic crises across all verticals of the industry. Before the COVID-19 pandemic, the global electronics industry had been growing at a slow rate. After the pandemic, the global electronics industry faced a dual impact. Many factories were pressured by the COVID-19 pandemic to temporarily shut down their production units, owing to which the electronics industry saw a drop in trade from January to November 2020. The production facilities of the electronics parts were halted owing to the logistics slowdown and unavailability of the workforce across the globe. On the other hand, various e-commerce companies across the globe discontinued the delivery of non-essential items (including most of the electronics products), which affected the electronics industry. And since ferrite magnetostrictive materials are often used in the electronics products such as magnetic stress sensors, ultrasonic radiators, and more; the hindrance in the electronic sector functioning, also affected the ferrite magnetostrictive materials market revenue growth in 2020.

Report Coverage

The report: “Ferrite Magnetostrictive Material Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the ferrite magnetostrictive material Market.

By Application: Magnetic Stress Sensors, Ultrasonic Radiators, Magnetoelastic Transducers, and others.

By End-Use Industry: Consumer Electronics, Industrial Manufacturing, Wastewater Treatment, Healthcare, and others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

Asia-Pacific dominates the ferrite magnetostrictive material market, owing to the increasing demand for magnetic stress sensors, ultrasonic radiators, magnetoelastic transducers, and more from the medical and electronics industry in the region.

Moreover, the market is expected to grow due to technological advancements, a rise in the number of applications, and the availability of advanced healthcare facilities in developing countries.

In addition, another main factor expected to drive demand growth is a rise in global economic growth, as well as government investments for successful wastewater treatment systems around the world.

However, market growth is hampered by factors such as raw material price fluctuations and the emergence of cheaper alternatives.

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Ferrite Magnetostrictive Material Market Segment Analysis – By Application

The magnetic stress sensor segment held a significant share in the ferrite magnetostrictive material market in 2020 and is growing at a CAGR of 8.2% during 2021-2026. Manganese-substituted cobalt ferrite magnetostrictive materials are promising candidate materials for use in magnetic stress sensors, due to their large magnetostriction and high sensitivity of magnetization to stress. Also, substituting manganese for some of the iron in the cobalt ferrite can lower the curie temperature of the material while maintaining suitable magnetostriction for stress sensing applications. Thus, ferrite magnetostrictive materials are often a preferred material of choice for the production of magnetic stress sensors.

Ferrite Magnetostrictive Material Market Segment Analysis – By End-Use Industry

The consumer electronics segment held the largest share in the ferrite magnetostrictive material market in 2020 and is growing at a CAGR of 13.7% during 2021-2026. For applications requiring torsion and stress, cobalt ferrites substituted with manganese are one of the most promising materials. The magnetostriction properties of these signposts for manganese-substituted cobalt ferrites can be implemented successfully in different directions. They can be used as friction, torsion, ultrasonic radiators, stress sensors as well as magnetic cores, as a gigantic material. Ferrite magnetostrictive materials are commonly used for sensing mechanical pressures and magnetic fields in magnetoelastic transducers. Ferrite magnetostrictive material possesses piezoelectric and magnetostrictive properties, which help it in converting both mechanical and magnetic energies into electricity. These characteristic features of ferrite magnetostrictive materials make it a promising material of choice for consumer electronic products manufacturing.

Ferrite Magnetostrictive Material Market Segment Analysis – Geography

Asia Pacific region held the largest share in the ferrite magnetostrictive material market in 2020 up to 38%, due to increasing demand for consumer electronics and the healthcare sector in the region, for which ferrite magnetostrictive material is extensively required. The consumer electronics and the healthcare sector are flourishing in the region owing to the increasing population and increasing per-capita income. For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment increased from 33,511 million yen in January 2021 to 35,987 million yen in February 2021. According to the India Brand Equity Foundation (IBEF), the healthcare market in India is anticipated to increase three-fold to Rs. 8.6 trillion (US$ 133.44 billion) by 2022. During the forecast period, the consumer electronics market segment is expected to show higher growth. The stable growth of the electrical and electronics industry is helped by the growth of the media and entertainment market. Furthermore, the penetration of household air conditioners, increasing revenue levels, and rising middle-class population temperatures in countries such as China and India are further adding the market growth in Asia-Pacific.

Ferrite Magnetostrictive Material Market Drivers

Growing R&D Activities for Ferrite Magnetostrictive Material

R&D on rare earth materials magnetostrictive materials has developed rapidly in recent years in the following areas, including mechanical properties of materials, solidification time of alloys, distribution of magnetic domain orientation, alloy properties in which the composition is in the morphotropic phase boundary, traditional methods such as high magnetic field application and stress treatment and more. For instance, in 2017, the Cobalt ferrite-based magnetostrictive materials for magnetic stress sensor and actuator applications were under research (US7326360) by Iowa State University Research Foundation. In January 2019, Henan Normal University invented and disclosed a method for preparing a cobalt ferrite magnetostrictive material by taking a waste lithium-ion battery as a raw material. The researchers continue to build the new magnetostrictive material alloy system of the rare earth giant, namely the TbDyFe system with the removal or inclusion of various elements.

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Government Incentives Accelerating the Growth of Medical Device Industry

Due to the bidirectional nature of the ferrite magnetostrictive materials, these materials are employed in the healthcare sector for both actuation and sensing applications. These materials can be commonly used in medicine as gas sensors and catalysts, and as a magnetoelectric transducer to wireless power medical implants. In March 2020, the Indian government approved the ‘Production-Linked Incentives (PLI) Scheme for Medical Devices 2020,' with a budget of Rs. 3,420 crore (US$ 464 million), under which segments of medical devices such as cancer care and radiotherapy medical devices, radiology and imaging medical devices, and anesthesiology medical devices will receive a 5% incentive on incremental sales over the base year 2019-2020 (Including catheters of cardiorespiratory category & renal care medical devices and implants including implantable electronic devices such as cochlear implants and pacemakers). Since March 2020, the FDA has received 28 applications from 23 medical device manufacturers. Such incentives are set to accelerate the growth of the ferrite magnetostrictive materials market.

Ferrite Magnetostrictive Material Market  Challenges

Availability of alternative products.

Due to their use potential in sensors and actuators, Ferrite Magnetostrictive materials are present of considerable concern. Alloy in metallic glass Metglas 2826 MB amorphous alloys are the best-known candidates for magnetostrictive sensors because these amorphous alloys show large magnetostriction of saturation, the limited magnetization of saturation, low anisotropic force, and low coercion. The rare earth materials and ferrite magnetostrictive content may be threatened by these elements. Thus, this is the major factor that constrains the growth of the market.

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Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the ferrite magnetostrictive material market. Ferrite magnetostrictive material market top companies are Morgan Advanced Materials plc, Kyocera Corporation, Hexcel Corporation, Nanophase Technologies Corporation, Kuraray Co., Ltd, Murata Manufacturing Co., Ltd., and Henkel AG & Co. KGaA.

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Metolachlor Market - Forecast (2023 - 2028)

The Metolachlor Market size is estimated to reach US$607.5 million by 2027, after growing at a CAGR of 3.3% during the forecast period 2022-2027. Metolachlor is an organic compound that is primarily employed as a selective herbicide. It is an aniline derivative that belongs to the chloroacetanilide herbicide family. It is very effective against grasses. Metolachlor herbicide is deployed for general weed control in agricultural food and feed crops to protect the crops from damage. The surging production of row crops such as wheat, rice, maize and other crops is accelerating the demand for metolachlor. This is the major factor propelling the Metolachlor Market growth. However, the Covid-19 pandemic hampered market growth because governments all over the world imposed stringent lockdown measures in 2020. This had an impact on agricultural production activities, limiting the growth of the metolachlor industry. In 2021 with the ease of lockdown-related regulation, there was growth related to the production of crops. For instance, according to the United States Department of Agriculture (USDA), in 2020, the global crop production was 774.3 million metric tons and in 2021, it was 779.2 million metric tons, an increase of 0.6%. The surge in crop production propelled the growth of the metolachlor industry. Moreover, the booming horticulture industry is proliferating the demand for metolachlor, as a result, leading to the expansion of the Metolachlor Market size.

Report Coverage 

The "Metolachlor Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Metolachlor Market.

By Source: Organic and Synthetic.

By Form: Solid (Dust, Granules, Baits, Capsules, Wettable Powders and Others) and Liquid (Emulsifiable Concentrate, Suspension Concentrates and Others).

By Packaging: Pouch, Can, Bottle, Drum and Others. 

By Application: Foliar Spray, Seed Treatment, Soil Treatment and Post-harvest.

By Crop Type: Row Crops (Cereal Grains (Wheat, Rice, Barley, Corn and Others), Soybeans, Sugarcane, Cotton and Others), Horticulture Crops, [Fruits (Apples, Banana, Watermelons, Pineapple and Others) and Vegetables (Tomato, Potato, Onions, Carrot and Others)], Plantation Crops (Coffee, Cocoa and Others) and Others. 

By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways 

Asia-Pacific dominated the Metolachlor Market, owing to the growth of the row crops production in the region, including wheat, rice and more. As per the U.S., Department of Agriculture, in 2020, the total wheat production in China was 134.3 million metric tons and in 2021 it was 136.9 million metric tons, an increase of 1.6%. 

The surging demand for Metolachlor to prevent the crops from feed damage is proliferating the development of new products related to metolachlor. This determinant is benefiting market growth. Moreover, the increasing adoption of Metolachlor in horticulture crops is accelerating the Metolachlor Market growth. 

The availability of various substitutes for Metolachlor may restrict the growth of the Metolachlor industry during the projected forecast period.

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Metolachlor Market Segment Analysis – by Source 

The organic segment held a significant Metolachlor Market share in 2021 and is estimated to grow at a CAGR of 6.7% during the forecast period 2022-2027. Metolachlor derived from organic compounds can suppress annual weeds while also providing other important benefits such as organic matter, nutrients, moisture conservation, soil protection and temperature regulation. Moreover, metolachlor, a derivative of aniline sourced from organic compounds ensures higher protection from weeds over synthetic. The advantage of using an organic metolachlor of pesticides is that it reduces the number of applications required, which reduces labor costs. It also results in higher arthropod pest mortality due to synergistic interaction or potentiation between or among mixed pesticides. Thus, the adoption of the organic source is surging due to the aforementioned factors. This factor is propelling the market growth. 

Metolachlor Market Segment Analysis – by Crop Type 

The row crops segment held the largest Metolachlor Market share of over 30% in 2021. Metolachlor's favorable soil behavior and low risk of weed resistance make it ideal for sustainable weed-management practices like conservation tillage. As a result, it is commonly used in row crops. Factors such as surging demand for food crops, increasing measures for food security and surging production of cash crops are fueling the agriculture industry's growth. For instance, according to the United States Department of Agriculture (USDA), global grain production increased by 4.5% to 1,498.9 million metric tons in 2021, from 1,434 million metric tons in 2020. Furthermore, the European Union estimates that total cereal production in Europe will reach 296.3 million tons in 2021, a 3.4% increase from 286.5 million tons in 2020. It goes on to say that total European wheat production reached 119.3 million tons in 2020 and 131.2 million tons in 2021. Moreover, the Egyptian government invested approximately EGP 6.4 billion (US$413 million) in the continuation of its agricultural project in January 2022. Hence, the growth of row crop production at the global level is boosting the demand for metolachlor. This, in turn, is proliferating the market growth. 

Metolachlor Market Segment Analysis – by Geography 

Asia-Pacific is the dominating region as it held the largest Metolachlor Market share in 2021 up to 35%. The agriculture sector is the key sector of the Asia-Pacific region. This is to create more food reserves and enable food security for uncertain environmental conditions. For enabling food safety the production of food crops, cash crops and more is increasing in the Asia-Pacific region. For instance, according to the US Department of Agriculture, in 2020 the total food crop production in Asia-pacific was about 998.8 million metric tons and in 2021 it was about 1,026.7 million metric tons, an increase of about 2.8%. Moreover, in 2020 the total coarse grain production in China was about 269.1 million metric tons and in 2021 it was about 280.9 million metric tons, an increase of about 4.4%. Also, in 2020 the total rice production in India was about 124.4 million metric tons and in 2021 it was about 129.7 million metric tons. This was 4.3% higher in comparison with 2020. Therefore, the increasing row crops production in the Asia-Pacific region is projected to spur the demand for metolachlor, this, in turn, will propel the growth of the Metolachlor Market size.

Metolachlor Market Drivers 

Surging Horticulture Production 

In horticulture crops such as fruits and vegetables, metolachlor, an aniline derivative is utilized during the harvesting and post-harvesting to enhance the yield. The production of horticulture crops is increasing at the global level to encourage nutritional security. For instance, according to the European Union, in 2020 the production of fruits in the European Union countries was about 36.8 million metric tons and out of this apples and pears production was the highest at 14.3 million metric tons, which was about 38.9% of the production of the total fruit. Additionally, according to the Department of Agriculture & Farmers Welfare, in 2019, India’s total vegetable production was 191.8 million metric tons, which was about 4.7% higher when compared with the year 2018. As a result of the increasing horticulture crop production, it is projected that the Metolachlor Market will further grow.

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Increasing Crop Production Within the Same Area of Arable Land 

Metolachlor plays a crucial role in higher crop production within the same cultivable land since weeds can be controlled by inhibiting the synthesis of long-chain fatty acids. The agricultural growth has accelerated in recent years, but the majority of this expansion has been driven by a higher yield per unit area rather than a greater cultivated area. Looking ahead to 2030, it is recommended that annual crop production and yield be increased within the same amount of arable land. For instance, according to Food and Agriculture Organization (FAO), in 2021-2030, global agricultural production is predicted to increase by roughly 9% for wheat and other coarse grains, which will be on the same area of arable land. Thus, to boost crop output within the same area of arable land and provide crops with sufficient nutrients, the demand for metolachlor will rise significantly, driving market expansion throughout the projection period.

Metolachlor Market Challenge

Availability of Substitute Products 

Metolachlor is used in the foliar spray application to prevent the roots of the crops from the generic weeds. This results in enhanced yield production. However, the growth of the mesotrione, terbuthylazine and other markets is the primary restraint for the metolachlor industry growth. The substitutes of metolachlor, including mesotrione, terbuthylazine and others have similar or enhanced beneficial properties over it. For instance, Mesotrione inhibits the 4-Hydroxyphenylpyruvate dioxygenase (HPPD) enzymes in weeds, preventing carotenoid biosynthesis and resulting in chlorophyll destruction. Also, terbuthylazine herbicide is used to control grass and broad-leaved weeds in a variety of settings, including forestry, as well as slime-forming algae, fungi and bacteria. Thereby, the increased adoption of mesotrione, terbuthylazine and others as organic herbicides is limiting the market's potential. 

Metolachlor Industry Outlook 

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Metolachlor Market. The top 10 companies in the Metolachlor Market are:

Bayer CropScience 

Syngenta 

BASF 

Nufarm

FMC 

Shanghai Tenglong Agrochem Co. Ltd. 

Shangdong Luba

Ruize Nantong 

Jiangshan Agrochemical & Chemical 

Jiangsu Fengshan Group 

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Recent Developments: 

In May 2022, DAMA Ltd., one of the leading global crop protection companies, launched Cheval, a premium pre-seed and post-emergent metolachlor herbicide. This product is utilized to control weeds in soybean and other crops, providing valuable benefits to the farmer, owing to its unique formulation and long residual effect. 

In April 2021, UPL, a leading metolachlor manufacturer based in India, introduced the herbicide Lifeline-Sync in the Brazilian market. This product is a metolachlor-based herbicide, which can be employed during the cultivation of soybeans, corn and cotton. 

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Water-based Resins Market - Forecast (2023 - 2028)

Water-Based Resins Market size is forecast to reach $55 billion by 2026, after growing at a CAGR of 6.3% during 2021-2026, owing to the rising demand for water-based resins from various end-use industries such as construction, marine, automotive, aerospace, and more. Water-based resins are fast replacing traditional volatile organic compounds (VOCs) solvent-based resins as these resins produce eco-friendly and easy to apply coatings. The rapid growth of the automotive and construction industry has increased the demand for adhesives & sealants; thereby, fueling the water-based resins market growth. The demand for high-solid, solvent-less, and water-borne technologies that boost the growth of the water-based resin market is increasing with strict government regulations to control air pollution by improving air quality. Furthermore, the increasing demand for adhesives & sealants is also anticipated to drive the water-based resins industry substantially during the forecast period.

COVID-19 Impact

Various building and construction projects have been halted, owing to the coronavirus pandemic. Due to this halt, the demand for polymeric resins and elastomers has significantly fallen, which is adversely affecting the water-based resins market growth during the outbreak. For instance, the construction output in Great Britain fell by a record 35.0% in Quarter 2 (Apr to June) 2020 compared with Quarter 1 (Jan to Mar) 2020. Furthermore, the outbreak is having a huge impact on the automotive industry. The manufacturing of automotives has been disruptively hindered, contributing to a major revenue loss in the total automotive sectors. According to the European Automobile Manufacturers Association, in June 2020, the demand for new commercial vehicles across the EU remained weak (-20.3%). With the decrease in automotive production, the demand for adhesives & sealants has significantly fallen, which is having a major impact on the water-based resins market.

Report Coverage

The report: “Water-Based Resins Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the water-based resins Industry. 

By Type: Acrylic, Epoxy, Polyurethane, Vinyl Acetate, Alkyd, Formaldehyde, and Others

By Application: Paints & Coatings, Adhesives & Sealants, Inks, and Others

By End-Use Industry: Automotive (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others), Paper & Pulp, Aerospace (Commercial, Military, and Others), Industrial (Petrochemical Facilities, Food & Beverages, Power Generation, and Others), Building & Construction (Residential, Commercial, and Infrastructural), Marine (Passenger, Cargo, Supply Vessels, and Others), Leather, and Others

By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

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Key Takeaways

Asia-Pacific dominates the water-based resins market, owing to the increasing manufacturing & construction activities in the region due to various government initiatives such as – “100 smart cities” and “Housing for all by 2022”.

As water-based resins offer better chemical and physical resistance, the demand for water-based resins is high, ensuring a longer life span of the material.

Also, because of the environmental regulations on volatile organic compounds (VOCs) emissions, water-based formaldehyde is expected to fully replace solvent-based formaldehyde resins soon.

Furthermore, increased demand for polymeric resins and elastomers across numerous end-use industries such as aerospace, paper, industrial, leather, and more is predicted to have a significant positive impact on the demand for water-based resins market in the upcoming years. 

Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which various projects and operations of various end-use industries such as automotive and construction are disruptively stopped, which is hampering the water-based resins market growth.

Water-Based Resins Market Segment Analysis - By Type

The acrylic segment held the largest share in the water-based resins market in 2020 and is growing at a CAGR of 5.6% during 2021-2026. Acrylic resins are extensively used in various end-use industries including automotive, construction, industrial, and more. The main benefits of acrylic resins are the ease of use, physical properties, and low costs. They are resistant to fungus, provide longer than average pot life, and have outstanding protection from moisture. World exports of acrylic resins were worth USD 13,490,819 thousand in 2016, and USD 15,291,934 thousand in 2017, which increased further to USD 17,152,076 thousand in 2018 according to the International Trade Centre (ITC). Their durability, coupled with their ability to decrease the monthly energy bill, is two of the main advantages that an acrylic resin provides. Thus, all these factors are boosting the demand for acrylic resins during the forecast period.

Water-Based Resins Market Segment Analysis - By Application

The paints & coatings segment held the largest share in the water-based resins market in 2020, owing to the increasing usage of water-based resins to manufacture paint & coatings. Many solvents evaporate into what is referred to as volatile organic compounds (VOCs). National, state, and local governments often regulate VOCs by limiting their emission. But since water-based coatings have either no, or considerably fewer solvents, they offer a great way to lower a business’s VOC output, which makes it possible to spend less on environmental compliance advising. Thus, the demand for water-based resins in paints & coatings application is high, due to the rising environmental regulations to reduce the use of solvent-based technology, owing to which the water-based resins market is flourishing during the forecast period.

Water-Based Resins Market Segment Analysis - By End-Use Industry

The architectural segment held the largest share in the water-based resins market in 2020 and is growing at a CAGR of 6.4% during 2021-2026, owing to the rising demand for paints & coatings in the architectural industry. Paints & coatings are being applied on the interior and exterior walls of all kinds of residential, commercial, industrial, and institutional buildings as it possesses some protective features. Paints & coatings, for example, protect the building from rain, sunlight, and wind extremes. In architectural interiors, such as wall paintings, wood flooring, sculptures, and furniture, water-based paint & coatings are also used. Increased awareness of the environment has led to innovations in the coating industry to provide affordable quality products. Similarly, growing safety standards is boosting the demand for fireproof and waterproof paint & coatings on buildings. Thus, all these increasing applications of paints & coatings in the architectural industry are projected to substantially propel the water-based resins market during the forecast period.

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Water-Based Resins Market Segment Analysis - By Geography

Asia-Pacific region held the largest share in the water-based resins market in 2020 up to 32%, owing to the flourishing architectural sector in the region. According to the International Trade Administration (ITA), the Chinese construction industry is anticipated to rise at an annual average of 5% in real terms between 2019 and 2023. In terms of value, the Indian construction industry is expected to record a CAGR of 15.7 percent to reach $ 738.5 billion by 2022, according to Invest India. Construction demand in Singapore is estimated to be between S$ 27 billion and S$ 34 billion for each year in 2021 and 2022, and between S$ 28 billion and S$ 35 billion for each year in 2023 and 2024, according to the Building and Construction Authority (BCA). With the increasing architectural sector, the demand for paint & coatings will also substantially rise. Thus, the rise in construction activities is expected to propel the water-based resins market growth in the Asia-Pacific during the forecast period.

Figure: Asia-Pacific Water-based Resins Market Revenue, 2020-2026 (US$ Billions)

Water-Based Resins Market Drivers

Increasing Automotive Production

Polymeric resins and elastomer water-based resins are extensively used in the automobile industry to paint & coat automotive components. They are also largely employed in the production of adhesives and sealants, which are then widely utilized in the automotive industry to keep the weight of the vehicle minimal. China is the world's largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects the production of automobiles to reach 35 million by 2025. And according to Stats SA, the total motor sale of South Africa in January 2018 was accounted to be 54,620 which increased to 55,156 in January 2019. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), the production of light commercial vehicles has increased from 326,647 in 2017 to 358,981 in 2018, an increase of 10.2% in Brazil. Thus, the increasing automation production will require more adhesive & sealants, paint & coatings, which will act as a driver for the water-based resins market during the forecast period.    

Increasing Aerospace Industries

Adhesives and sealants are widely used in the aerospace industry in components such as pipes, electronic assemblies, sensors, panels, fixtures, tools, and more to reduce the weight and increase the strength of the aerospace. According to the International Trade Administration (ITA), in 2019 China was the world’s second-largest civil aerospace and aviation services markets and one of the fastest-growing markets. China is anticipated to require around 6,810 new-fangled commercial aircraft, valued at USD 1 trillion, in 2016, according to Boeing, over the next two decades. According to Boeing, the demand for 2,300 airplanes worth US$320 billion is projected in India over the coming 20 years. Boeing's current market outlook (BMO) forecasts demand for 2,520 new aircraft in the Middle East by 2030. Thus, with the increasing aerospace sector in various regions, the demand for adhesives and sealants will also substantially increase. And since adhesives and sealants are often manufactured using water-based resins, the increasing aerospace industry acts as a driver for the water-based resins market during the forecast period.

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Water-Based Resins Market Challenges

High Cost and Low Performance of Water-based Resins Over Solvent-Based Resins

Solvent-based resins have one major advantage over water-based resins i.e. during the curing phase; they are less vulnerable to environmental conditions, such as temperature and humidity. Humidity can prevent the evaporation of water in a water-based coating, making it impractical in some climates. Hence, solvent-based resins are preferred for applications in humid environments that don't allow water-based resins to cure properly. Also, solvent-based resins are typically more resilient than water-based resins during the curing of the coating. Besides, the capital cost and fixed cost associated with changing the technology from solvent-based to water-based is high. Hence, many small-scale manufacturers in emerging regions are still using solvent-based resins. All these factors are restraining the water-based resins market growth during the forecast period.

Water-Based Resins Market Landscape 

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the water-based resins market. Major players in the water-based resins market are BASF SE, DowDuPont, Allnex Group, The Lubrizol Corporation, Royal DSM N.V., Hexion, Arkema, DIC Corporation, Covestro AG., and Celanese Corporation.

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Acquisitions/Technology Launches

In January 2020, at its Castellbisbal site in Spain, BASF invested in the capacity expansion of its water-based polyurethane dispersions. The expansion allowed BASF to increase its manufacturing capacity by 30%.

In March 2019, Stahl launched Relca HY-288, a water-based hydrophobic hybrid dispersion designed to provide excellent resistance to stains such as coffee, red wine and mustard in 1 component systems.

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#Water-Based Resins Market #Vinyl Acetate #Water-Based Resins Market size #Acrylic #Water-Based Resins Market industry

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Textiles Fiber Market - Forecast (2023 - 2028)

Textiles Fiber Market is forecast to reach $51.2 billion by 2026, after growing at a CAGR of 4.5% during 2021-2026. Textile fibers are defined as a unique form of polymeric material combining the chemical and physical properties of polymers and the flexibility and strength of the fibrous structure. Textiles fiber can be spun into a yarn or made into a fabric with electrostatic discharge by various methods including weaving, knitting, braiding, felting, and twisting. Increasing demand for apparel as a basic necessity worldwide is driving the growth of the textiles fiber market. Huge demand from construction and automotive industries for acrylate coating, polyester yarn, and electrospinning systems, also augments the growth of the market.

Covid-19 Impact

COVID-19 proved to be a major challenge for the textiles fiber manufacturers due to disruptive supply chain and declining demand from consumers worldwide. Many industries are shuttered due to lack of manpower. Purchasing capital of people also decreased which directly impacted the automotive, construction, and textile industries, and affected the growth of the textiles fiber market. However, due to this pandemic the growth of the healthcare industry is accelerating. The demand for packaging, wipes and medical apparel is increasing which in turn may fuel the demand for textiles fiber

Report Coverage

The report: “Textiles Fiber Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Textiles Fiber Market.

By Type: Natural Fiber {Plants (Cotton, Jute, Linen, and Others), Animals (Silk, Wool,), Mineral (Asbestos, Glass Fiber, Ceramic, and Others)}, Synthetic Fiber {Non-Cellulosic Fiber (Acrylic Fiber, Nylon Fiber, Polyester Fiber, Aramid Fiber, and Others), Cellulosic Fiber (Rayon Fiber, Acetate Fiber).

By Application: Industrial, Filters, Tire Cords, Concrete Reinforcement, Feminine & Baby Care Products, Surgical Gloves, Apparels, Bedding & Blankets and Others.

By End-Use Industry: Automotive, Building & Construction, Healthcare, Aerospace and Defense, Textile, Oil & Gas, Energy and Power, and Others.

By Geography: North America (U.S., Canada, and Mexico), Europe (U.K, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa).

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Key Takeaways

In Asia-Pacific region, China has shown the highest growth in the textiles fiber market, owing to the increasing population combined with construction activities in the region due to various government initiatives such as “One Belt, One Road”.

Increasing birth rate and aging the population has contributed to the growing demand for hygiene products, such as baby diapers, sanitary napkins, and adult incontinence products, which, in turn is expected to fuel the demand for textiles fiber. 

Suring uses of acrylate coating, polyester yarn, and electrospinning systems across various end-use industries also drive market growth.

The outbreak of Covid-19 has disrupted the economic activities which in turn hampers the growth of the market.

Textiles Fiber Market Segment Analysis – By Type

Synthetic fiber segment held the largest share of more than 30% in the textiles fiber market in 2020. The most common synthetic textile fibers are nylon, lyocell, acrylic, aramid, polyester, acetate, and rayon. Synthetic fibers are more durable than natural fibers. In addition, synthetic fibers can handle heavy loads without breaking and offer consumer-friendly functions such as stretching, waterproofing, and stain resistance.

Owing to these factors, these fibers are preferred in various applications including clothing, home furnishing, automotive, construction, toys, different types of ropes, and net manufacturing. According to the International Trade Centre, revenue generated by the import of synthetic filaments increased from $42.15 in 2017 to $45.55 M in 2019. Hence, the exceptional benefits of synthetic fibers over natural fibers and their growing demand are boosting the demand for synthetic fibers.

Textiles Fiber Market Segment Analysis – By Application

Based on the application, industrial segment held the largest share of more than 25% in the textile fibers market in 2020. Widespread usage of textile fibers in various industrial applications, such as transmission belts, conveyor belts, protective apparel, industrial carpet, and flame resistant apparel is fueling the growth of the textiles fiber market. Rising awareness to control industrial accidents and fatalities at the workplace is expected to propel the demand. Furthermore, stringent labor laws coupled with the presence of governing bodies such as the Occupational Safety and Health Administration (OSHA) is expected to increase the demand of textiles fiber for protective clothing.

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Textiles Fiber Market Segment Analysis – By End-Use Industry

Building & Construction segment holds the largest share of more than 35% in the textiles fiber market in 2020. In addition to interior applications like bedding, carpets, and curtains, textiles fibers such as glass fiber, kevlar, nylon, and jute are widely used with concrete for reinforcement purposes. Textiles fiber is used with concrete to enrich its strength, flexibility and for the protection against UV and electromagnetic radiation. 

Increase in construction activities across the world further fuels the growth of the market. According to the Institution of civil engineers, the volume of construction output will grow by 85% to $15.5 trillion worldwide by 2030, which in turn augment the demand for textile fibers for concrete reinforcement and interior applications.

Textiles Fiber Market Segment Analysis – By Geography

Asia Pacific has dominated the textiles fiber market with a share of more than 40% in 2020 followed by North America and Europe. Population growth coupled with rapid industrialization & urbanization is driving the growth of the textiles fiber market. Surging demand for apparel and the expansion of textile industries across the country is also aiding the growth of the market. 

According to Indian Brand Equity Foundation (IBEF), India’s textile and apparel exports accounted for US$ 38.70 billion in 2019 and is expected to increase to US$ 82.00 billion by 2021, subsequently augmenting the demand for textile fibers. Furthermore, the increasing spending capability of customers toward purchasing attractive clothing is also expected to trigger market growth.

Textiles Fiber Market Segment Analysis Drivers

Growing demand from health care industries

Surging demand from healthcare for bandages, medical housing, feminine hygiene products, and diapers is fueling the market growth. Growing consumption of acrylate coating and polyester yarn-based cloths in the medical sector also drives the market growth. According to the American Society for Plastic Surgeons (ASPS), 18.1 million cosmetic procedures were performed in 2019. Therefore, the rise in cosmetic surgeries and the prevalence of chronic diseases, such as diabetes & cardiovascular diseases is anticipated to positively impact the market growth. According to the Centre for Medicare and Medicaid Services, total health care spending of the United States grew by 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person. Hence, rising health concerns and an increase in health care spending also boost the growth of the textiles fiber market.

Growing fashion industry and e-commerce is fueling the market growth

Increase in disposable income and the adoption of western culture in emerging economic nations have boosted the growth of the fashion industry. With the rising penetration of the internet and e-commerce across the globe, the reach of textile companies has increased. The perks of e-commerce have not only benefited the companies but also the consumers in terms of pricing and a vast range of options available to them. Moreover, new customers have also been attracted by the online distribution route. This will drive the market growth of textile fibers in the forecast period.

Textiles Fiber Market Segment Analysis Challenges

Volatility in raw material prices

The raw materials often used for manufacturing textile fibers such as spandex, polyester, nylon, etc. are derived from crude oil. So, the price fluctuation of crude oil hinders the growth of the textile fibers market. According to, BP Statistical Review of World Energy, in the recent year there has been an increase in the price volatility of crude oil, such as the crude oil price decreased from $98.95 in 2014 to $52.39 in 2015 and increased from $43.73 in 2016 to $71.31 in 2018. And because of this uncertainty in crude oil prices, the price of textile fibers also increases. Thus, the volatility in crude oil prices is expected to be a significant challenge for textile fibers manufacturers during the forecast period.

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Textiles Fiber Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the textiles fiber market report. Major players in the textiles fiber market are, Tongkun Group, Zhejiang Hengsheng Chemical Fiber Co., Ltd., Indorama Ventures Public Company Limited, Alpek S.A.B. de C.V., Toray Industries, Inc., China Petroleum & Chemical Corporation, Reliance Industries Limited, Grasim Industries, Lenzing AG, Fulida, Kelheim Fibres among others.

Acquisitions/Technology Launches

In June 2020, Grasim Industries Ltd. launched Antimicrobial fibers that not only kill viruses and bacteria, but also inhibits their growth keeping the fabric fresh and hygienic in the long run.

In February 2019, Indorama Ventures Public Co. Ltd. (IVL), acquired the M&G Fibras Brasil, in Cabo de Santo Agostinho, Brazil. The Cabo plant manufactures and supplies Polyester Staple Fiber, with a total polymerization capacity of 75,000 tons/annum.

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#Textiles Fiber Market size #Textiles Fiber Market price #Textiles Fiber Market share

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Architectural Window Film Market - Forecast (2023 - 2028)

Architectural Window Film Market size is forecast to reach $3.8 billion by 2026, after growing at a CAGR of 5.1% during 2021-2026. Globally, the demand for architectural window film is increasing as it reduces heat in building interiors and protects from UV rays. Reflective films are highly consumed window films as they reject excess solar radiation and helps to reduce carbon footprint. Architectural window films such as safety & security film not only prevent potential physical harm but also keeps winds from rushing inside the buildings. Architectural window film reduces the heat inside the building, maintains the room temperature, and keeps the environment comfortable. Polyester film materials are widely used to manufacture window film due to they have scratch-resistant properties which protect the outer surface of the film. Also, decorative vinyl films are widely used for decorative purposes as they are cost-effective, easy to install, and durable. Thus, increasing adoption of architectural window film due to protection from harmful ultraviolet rays is expected to grow the architecture window film market size.

Impact of COVID-19

The COVID 19 pandemic has put all construction projects on hold along with residential and non-residential construction projects. Due to lockdown, the demand for architectural window film has decreased. According to the U.S. Census Bureau, in January 2021, the building and construction were declined including residential (-0.2 percent), private construction (-0.5 percent), health care (-4.4 percent), and office (-0.5 percent) in the United States. In 2021, all the residential and non-residential have been stopped due to which architectural window films demand decreased.

Architectural Window Film Market Report Coverage

The report: “Architectural Window Film Market– Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Architectural Window Film Market.

By Material:Polyester, Polyethylene Terephthalate, Vinyl, Plastic, Ceramics, Others By Film Type:Reflective Film, Non-reflective Film, Safety & Security Film, Spectrally Selective Film, Surface Protection Film, Decorative Film, and Others By Application: Residential Buildings (Private Dwellings, Apartments, Row Houses), Commercial {Office, Healthcare (Hospitals, Long Term Care Facilities, Clinics and Diagnostic Centers, Others), Hotels and Restaurants, Sports Arena, Concert Halls and Museums, Research Center}, Industrial Buildings (Production Space, Warehouse, Factories, Others), and Others  By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

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Key Takeaways

Asia Pacific dominated the global architectural films market due to increasing consumption of window films such as reflective film, safety & security film, and others in Asian countries is estimated to grow the market size.

Rising awareness towards the harmful effects of ultraviolet light and protection for the skin is increasing the demand for reflective film in the both residential and commercial sectors.

Various solar control window film manufacturers have developed innovative products to reduce building carbon footprint and also reduces the harmful UV rays which are widely used in commercial buildings for cooling.

Architectural Window Film Market Segment Analysis – By Material

The polyester material segment dominated the global architectural window film market in 2020. Polyester material applied to an interior window of a commercial building. Polyester material has scratch-resistant property and this material is used as an outer coating on the surface of architectural window films. The polyester used to manufacture window film due to unequaled, toughness, and excellent stability. Apart from this, due to protection from UV harmful ultraviolet rays polyester is used in the reflective film for commercial and residential applications. Hence, such factors are increasing the demand for polyester to manufacture architectural window films.

Architectural Window Film Market Segment Analysis – By Film Type

Reflective films lead the global architectural window films market in 2020 due to reflective solar films are rejecting solar radiation and improving the comfort of buildings. It helps to reduce heat which is entered by the window and also reduces carbon footprints. This film enhances the appearance and has visible light transmission levels for glazing systems. Reflective films block 99% of UV rays and have an excellent level of heat rejection. It helps to reduce emissions and costs from building cooling. Hence, due to these properties, reflective films are highly consumed in commercial building and residential building which is estimated to boost the consumption of architectural window films.

Architectural Window Film Market Segment Analysis – By Application

Commercial construction dominated the architectural window film market in 2020 and growing at a CAGR of 5.2% during 2021-2026. Rising consumption of various types of architectural window firms such as reflective film, safety & security film, surface protection films, and others in the residential, commercial, and industrial sector as they protect the interior with harmful rays.  Thus increasing commercial building construction is estimated to grow the consumption of reflective films. According to the India Brand Equity Foundation (IBEF), the warehouse attracted private equity investments of US$ 971 million in 2020. Additionally, according to the U.S. Census Bureau, healthcare construction increased by US$ 47,113 million in January 2021 compared to US$46769 million in April 2020. Hence, increasing commercial building construction is estimated to grow the architectural window film market.

Architectural Window Film Market Segment Analysis – By Geography

Asia Pacific dominated the global architectural window film market in 2020 with 30%. Due to increasing building projects in developing and emerging Asian countries such as India, China, Japan, and others. In Asian countries architectural window film is used to reduce the consumption of energy and increase cooling in the building. Hence, increasing building demand and housing projects are also estimated to grow the market size of architectural window films. According to China Electronic Information Industry Development (CCID), the country is expected to spend CNY10 trillion (US$1.4 trillion) on new infrastructure projects between FY20-FY25. Furthermore, according to the India Brand Equity Foundation (IBEF), the real estate sector of India will grow US$ 1 trillion by 2030 and Rs. 65,000 crore (US$ 9.30 billion) by 2040. According to India Brand Equity Foundation (IBEF), in 2019 Puravankara realty firm limited plans to invest Rs 850 crore to build 3 luxury housing projects in Bengaluru, Chennai, Mumbai over the next 4 years. Furthermore, in September 2020, Mitsubishi Estate Co. announced that it plans to finish work on Japan's tallest building 390 meters with 63 floors in a redeveloped district near Tokyo Station in the fiscal year 2027. Apart from this, increasing consumption of polyester film materials as they protect films from scratch and abrasion. Hence, such a factor is estimated to grow the market scenario during the projected year.

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Architectural Window Film Market Drivers

Growing Development of Building and Construction across the Global

According to the US Census Bureau, building permits in the United States increased 0.3 percent to an adjusted annual rate of 1.76 million in April 2021 from 1.75 million in March 2021. Furthermore, according to the National Development and Reform Commission (NDRC), 14 construction investment projects were approved worth CNY177.8 billion (US$25.2 billion), following approvals of CNY68.9 billion (US$10.1 billion) in August 2020. On the other hand, according to the National Bureau of Statistics, China's real estate market investment jumped from 15.7% in 2019 to 38.3% in January-February 2021. Additionally, according to the US Census Bureau, new housing unit construction was 11,471 thousand units in 2019 in the United States, which reached 3,642 units in 2020. Moreover, according to the Federal National Mortgage Association, housing starts were expected to jump with 1 million new homes in 2021. Hence, rapidly increasing projects are estimated to grow the consumption of architectural window films.

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Increasing Consumption of Reflective Films

Reflective films are widely used in building to controls temperature and reduce carbon emission. These films are block UV rays which protect from skin diseases such as skin cancer, acne, and cold sore. Hence, the increasing awareness towards the skin is estimated to grow the demand for reflective films. Architectural window films are easy to install, durable, and help to reduce the heat entering the building from windows. Furthermore, this film maintenance daytime privacy. Thus increasing consumption of reflective films is estimated to grow the architectural window films market size.

Architectural Window Film Market Challenges

Volatility in Raw Material prices

Polyester and polyethylene terephthalate are derived from crude oil. Thus, volatility in crude oil fluctuates the prices of window films, which creating hindrance for the market. According to the BP Statics, in 2018, the average oil price increased to $71/ bbl from $54/bbl in 2017, however, it further declined to US$64.21/bbl in 2019. Thus, fluctuations in the prices of crude oil may hamper the architectural window films market.

Architectural Window Film Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the architectural window film market. In 2020, the market of architectural window film has been consolidated by the top five players accounting for xx% of the share. Major players in the architectural window film market are 3M Company, The Window Film Company, Eastman Chemical Company, Garware Sun control, Solar Control Films Inc., Purlfrost Ltd., Saint-Gobain, Sun Control, Madico Inc., Polytronix Inc., and among others.

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nullAcquisitions/Technology Launches

In January 2020, Eastman Chemical Company announced the expansion of production capacity at Dresden, Germany, manufacturing facility to cater to the growing demand for coatings and laminating lines used in films. This capacity expansion is intended to cater to the growing demand for paint protection films and window films.

In April 2019, Saint Gobain introduced a new line of automotive film named VORTEX IR ceramic film series. The product has been designed with advanced nano-ceramic technology and can reject over 96% of infrared rays. Also, the product is signal-friendly with satellites. GPS navigation system and other electronic devices. 

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Soft Touch Polyurethane Coatings Market Forecast (2023 - 2028)

Soft Touch Polyurethane Coatings Market size is expected to reach a value of US$12.6 billion by the end of the year 2027 after growing at a CAGR of 6.5% during the forecast period from 2022-2027. Soft-touch polyurethane coatings are acrylic polyurethane formulated to provide a soft, smooth feel to the coating surface. Soft-touch polyurethane coatings or dispersing agents have superior properties such as young’s modulus, yield strength, and tensile strength, excellent durability, and scratch & stuff resistance which makes them ideal for interior wood surfaces including furniture, doors, trim and automotive interiors. Thus, the increase in demand for soft-touch polyurethane coatings is widely used in automobiles, and the packaging industry is one of the major factors driving the soft-touch polyurethane coatings industry growth. Soft-touch polyurethane coatings are used to reduce chemical and abrasion resistance. The elasticity and drag from Soft-touch coatings can also prevent slippage of parts due to their elasticity and provide a matte finish which makes them ideal for various end-use industries such as electrical & electronics, automotive, and packaging, which, in turn, is driving the soft-touch polyurethane coatings market. 

COVID-19 impact

With the Covid-19 pandemic taking a toll on businesses across the globe, the soft-touch polyurethane coatings market faced challenges during the year 2020 and also in 2021. Soft-touch polyurethane coatings are widely used as a dispersing agent in interior automotive such as door panels. But during the COVID pandemic, the production activities of the automotive sector were closed which may hamper the market growth. According to the European Automobile Manufacturers Association (ACEA), passenger car registrations down to a fall of about 25% in 2020. According to Asian Automobile Analysis (AAA), Toyota’s automobile sales in China fell 70.2% to 24,000 units in February 2020. In March 2021, according to the International Organization of Motor Vehicle Manufacturers (OICA)”, vehicle production in Europe, North America, and South America fell by 21%, 20%, and 30%, respectively. However, the global soft-touch polyurethane coatings market size was hugely affected which is limiting the market growth.

Report Coverage

The report: “Soft Touch Polyurethane Coatings Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Soft Touch Polyurethane Coatings Industry.

By Technology: Water Based and Solvent Based. By Type: Two Components (2K) and Ultraviolet (UV). By End-Use Industry: Automotive (Passenger Cars, Light Weight Commercial Vehicles, Heavy Weight Commercial Vehicles), Aerospace (Airplanes, Aircraft, Air spray Guns, and Others), Electrical & Electronics (T.V., Mobile Phones, Laptops, Others), Furniture, Packaging (Cosmetic Packaging, Food & Beverages Packaging, Pharmaceutical Packaging, Industrial Packaging, Others), and Others. 

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Key Takeaways

The Asia Pacific held the largest share in the soft-touch polyurethane coatings market owing to the growing various end-use industries such as automotive in Asian Countries such as India and China.

Local Air Quality Regulators and Environmental Protection Agency (EPA) are continuously assessing the amount of VOCs released from the paints & coatings industry. Thus, the imposition of regulations is providing new opportunities for soft-touch polyurethane coatings.

Increasing implementation of various stringent environmental regulations on reduction of high volatile organic compound (VOC) emissions is driving the market demand of soft-touch polyurethane coatings market.

However, the easy availability of substitutes due to the high cost of polyurethane coatings is creating restraint for the soft-touch polyurethane coatings market size in near future.

Soft Touch Polyurethane Coatings Market Analysis – By Technology

Water-based technology held the largest share of over 50% in the soft-touch polyurethane coatings market in the year 2021. Water-based soft feel polyurethane coating reacts with hydroxyl functional groups such as polyols and polyisocyanate which are present in the polymer to form polyurethane and release carbon dioxide. Water-based PU coatings provide fast curing of ultraviolet polyurethane coatings which are made very useful in the wood industry. Waterborne PU soft-touch coating provides comparable finishing quality to solvent-based coatings in color and haptic performance which is ideally suitable for more eco-friendly coatings. Additionally, these are a content low amount of VOC; thus, stringent government regulations to reduce the emission of volatile organic content (VOC) are also creating growth for polyurethane coatings. In 2019, Environment Protection Agency New England has mandated manufacturing facilities to reduce their VOC emission by making process changes and installing air pollution control equipment. Thus, due to such factors, water-based technology is widely used to form soft-touch polyurethane coatings.

Soft Touch Polyurethane Coatings Market Analysis – By Type

Two components (2K) held the largest share of more than 60% in the soft-touch polyurethane coatings market in the year 2021. Two-component polyurethane coatings are solvent-based coating system which is used to reduce the volatility of organic solvents. Two components polyurethane, linkage as dispersing agents for low VOC content, provide excellent anti-fingerprint, young’s modulus, anti-scratch, and abrasion-resistant properties, making the coating very durable which makes them safer to operate in end-use industries such as furniture paints and printing inks for paper. Thus, stringent government regulations to reduce the emission of volatile organic content (VOC) are also creating growth for two components of polyurethane coatings. In August 2020, China’s State Administration for Market Regulation (SAMR) and the Standardization Administration of the People’s Republic of China (SAC) issued new standards limiting the use of VOCs and other chemicals in coatings and adhesive manufacturing. This will further drive the soft-touch coatings market. 

Soft Touch Polyurethane Coatings Market Analysis – By End Use Industry

Automotive held the largest share of more than 30% of the soft-touch polyurethane coatings market in the year 2021. Soft-touch coatings are widely used in interior automotive to provide a premium look and leather texture to plastic surfaces to car interiors. Thus, it is widely used in panels, holders, and armrests which is estimated to create an opportunity for the soft-touch polyurethane industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle production increased by 21.08 million in January-march 2021 compared to 18.03 million in January-March 2020. According to Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association, in China, light-duty sales will grow from US$281 billion in 2020 to US$314 billion in 2021. According to the International organization of Vehicle Motor Manufacturers (OICA), in China commercial vehicle production increased by 31.4% to 5731161 units in 2020 as compared to 4360472 units in 2019. According to the European Automobile Manufacturer Association (ACEA), the automotive sector is a major investor in R&D in Europe, which has increased by 6.7% to reach €57.4 billion (US$ 64.25 billion) annually as of 2019. Thus, the growing automotive sector is estimated to fuel the demand for soft-touch polyurethane coatings.

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Soft Touch Polyurethane Coatings Market Analysis – By Geography

The Asia Pacific held the largest share of more than 40% in the soft-touch polyurethane coatings market size in the year 2021, due to the increasing demand from various end-use industries such as the automotive industry in Asian countries such as India and China are estimated to grow the demand for soft-touch polyurethane coatings. According to India Brand Equity Foundation (IBEF), the Indian automotive industry (including component manufacturing) is expected to reach US$251 to US$282 billion by 2026. According to the Federation of Automobile Dealers Associations (FADA), in India sales of passenger vehicles increased to 2,91,001 units in November 2020, compared with 2,79,365 units in November 2019. According to the International organization of Vehicle Motor Manufacturers, in China commercial vehicle production increased by 31.4% to 5731161 units in 2020 as compared to 4360472 units in 2019. According to the government-backed China Association of Automobile Manufacturers, China has become a world leader in the electric bus segment which grows in production of electric buses at 34% by 2025. Thus, according to the International Trade Administration (ITA, the Chinese government expects the production of automobiles to reach 35 million units by 2025. Hence, these are hugely creating an opportunity for market growth in the region.

Soft Touch Polyurethane Coatings Market Drivers

Growing demand from End-Use Industries

Soft-touch polyurethane coatings/dispersing agents are widely used to coat the interior surface of automobiles which offer resistance to various environmental factors such as scratch, abrasion, chemicals, young’s modulus, yield strength, and tensile strength. Thus, the increasing automotive production is estimated to grow the consumption of soft-touch polyurethane coatings. According to the International organization of Vehicle Motor Manufacturers, in Germany, commercial vehicle production increased by a total of 100% in 2020 as compared to 2019. According to the International Trade Administration (ITA), the Chinese government expects the production of automobiles to reach 35 million units by 2025. According to the European Automobile Manufacturer Association (ACEA), the automotive sector is a major investor in R&D in Europe, which has increased by 6.7% to reach €57.4 billion (US$ 64.25 billion) annually as of 2019. In 2020, automobile manufacturers operate some 226-vehicle assembly and production plants in the European Union. In addition, soft-touch polyurethane coating offers a protective shield to electronic devices such as mobile phones, laptops, and others from accidental scratch and damages. These coatings are highly durable and excellent resistance to weathering and UV radiation which is growing demand for soft-touch polyurethane coatings from the electronics sector. According to the Consumer Technology Association (CTA), consumer electronics sales in the U.S. are forecast to reach US$461 billion in 2021, an 4.3% increase year-over-year. According to India Cellular and Electronics Association (ICEA), India is expected to reach a value of US$ 100 billion to manufacture laptops and tablets by 2025. Hence, such factors are globally driving the soft-touch polyurethane coatings industry. 

Rising Packaging Industry is estimated to grow the consumption of Soft-Touch Polyurethane Coatings

Soft-touch polyurethane coatings are used to enhance product quality, improve packaging design, and enhance the quality image of the packed products. Polyurethane dispersing agents have the technical qualities for water-based lamination ink which is the ideal solution for food packaging. Also, soft-touch polyurethane coatings are safer, lighter, more durable and, eco-friendly for the packaging industry. Thus, the increasing demand for eco-friendly packaging from cosmetics, food, and pharmaceuticals is estimated to grow the demand for soft-touch polyurethane coatings. According to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is estimated to reach US$ 65 billion by 2024 and ~US$ 120-130 billion by 2030. According to Eurostat, in Europe, dairy products and soft drinks export 16,203 euros million (US$ 18.51 billion) and 5,650 euros million (US$ 6.45 billion) in 2020, an increase of 3% and 2%during 2019-2020, respectively. According to Cosmetic Europe, a personal care association, the skincare cosmetics market in Europe is increased by euro 21.45 billion (US$ 24.5 billion) in 2020 as compared to euro 20.39 billion (US$ 24.07 billion) as compared to 2018. Hence, the globally increased automotive industry is estimated to boost the consumption of soft-touch polyurethane coatings.

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Soft Touch Polyurethane Coatings Market Challenges

Easy Availability of Substitutes

Masterbatches are mainly used across interior furniture and also interior parts of an automobile as an ideal substitute for polyurethane. Masterbatch is batter polyurethane as it offers superior coating penetration on complex shapes for indoor or outdoor items. Masterbatch provides homogeneous color and removes the additional coating efforts and operating costs. Acrylonitrile butadiene styrene (ABS) plastics are used indoor trims, airbags compartments and, front panels to reduce the overall weight of the vehicle which is required to be coated with high abrasive resistance material such as polyurethane. But it acts like stick-slip action. Thus, masterbatch delivers excellent anti-squeak performance for acrylonitrile butadiene styrene parts in automotive at a low cost. The coating cost of masterbatch is Rs.120-Rs.200 per Kg which is less than polyurethane coatings (Rs.165-Rs.210 per Kg). Also, a masterbatch is reduced stick-slip, has a lower coefficient of friction, minimizes the impact on key polycarbonate/ acrylonitrile butadiene styrene mechanical properties (young’s modulus, strength), and easy-handling then polyurethane coatings. This is one of the major challenges faced by the soft-touch polyurethane coatings industry. 

Soft Touch Polyurethane Coatings Market Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Soft Touch Polyurethane Coatings Market. Major players in the Soft Touch Polyurethane Coatings Market are;

Aexcel Coatings

Axalta Coatings Systems 

Akzo Nobel N.V. 

Jotun AS 

PPG Industries Ltd

Rust-Oleum - RPM International Inc. 

Sokan New Materials 

The Sherwin Williams Company

BASF S.E.

Allnex, and more.

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Recent Developments

In January 2021, Allnex launched polyurethane coating DAOTAN 7061/35WA. DAOTAN 7061/35WA is an emulsifier-free, high molecular weight, aliphatic urethane-acrylic-hybrid aqueous dispersion with excellent shear stability which is specially designed for automotive OEM and vehicle refinish coating segments.

In June 2020, BASF launched 10 variations of Haptex 2.0 polyurethane (PU) solution for the production of synthetic leather. This product is enhanced higher peel strength, anti-yellowing, and high abrasion performance properties. Synthetic leather made with this PU solution is used to meet stringent VOC standards and is useful in various industries such as furniture, footwear, automotive, apparel, and accessories.

In January 2020, BASF announced a single-digit million-euro investment in the capacity expansion of water-based polyurethane dispersions with a production capacity of 30% at its Castellbisbal site in Spain. 

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Report Code: CMR 0698

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Anti-counterfeit Electronics And Automobiles Packaging Market Forecast (2023 - 2028)

The Anti-counterfeit Electronics And Automobiles Packaging Market size is projected to reach US$20.6 billion by 2027, after growing at a CAGR of 9.1% during the forecast period 2022-2027. The malpractice of counterfeiting is on the rise and has become a source of concern for many original automobile and electronics manufacturers worldwide. As a result, a wide range of anti-counterfeit technologies such as holograms, barcodes, watermarks, radio frequency identification and more are being adopted globally to prevent the practice of counterfeiting in the automobile and electronics industries. The booming application of anti-counterfeit packaging in the electronics industry is the primary reason for the anti-counterfeit electronics And automobiles packaging market growth. However, in 2020, the COVID-19 pandemic caused ripples in the anti-counterfeit electronics and automobiles packaging industry growth. In 2021, the ease of COVID-19-related regulations resulted in a surge in the production of products, including electronics, automotive and more. This, in turn, accelerated the anti-counterfeit electronics and automobiles packaging industry growth. Also, the bolstering automotive industry is expected to fuel the demand for anti-counterfeit electronics and automobiles packaging. As a result, the Anti-counterfeit Electronics And Automobiles Packaging market size would grow during the forecast period.

Report Coverage

The "Anti-counterfeit Electronics And Automobiles Packaging Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Anti-counterfeit Electronics And Automobiles Packaging Market.

By Technology: Authentication Technologies [Ink and Dyes, Holograms (Overt Holograms and Covert Hologram), Watermarks (Physical Paper Watermark and Digital Watermark), Taggants and Others] and Track and Trace Packaging Technologies [Barcode Technology (Paper Barcode Labels, Aluminum Barcode Labels, Polyester Barcode Labels, Ceramic Barcode Labels and Others), RFID Technology (High-frequency RFID and Ultra-high Frequency RFID) and Others].

By Application: Electronics (Air Conditioners, Refrigerators, Smartphones, Computers, Television and Others) and Automobiles [Passenger Vehicles (PV), Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV)].

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

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Key Takeaways

Asia-pacific dominated the Anti-counterfeit Electronics And Automobiles Packaging Market, owing to the electronics industry growth in the region. According to Invest India, in 2014-2015, India’s electronics production was US$29 billion and in 2020-2021, it grew to US$67 billion, which is more than double.

The ongoing developments associated with the hologram, barcode and technologies would spur market growth in the upcoming years. 

Moreover, the government initiatives for the protection of malpractices for counterfeit are accelerating the market growth. 

However, the high cost of Anti-counterfeit technology may restrict the Anti-counterfeit Electronics and Automobiles Packaging industry growth during the forecast period of 2022-2027.

Anti-counterfeit Electronics And Automobiles Packaging Market Segment Analysis – by Product Type 

The track and trace packaging technologies segment held the significant Anti-counterfeit Electronics And Automobiles Packaging Market share in 2021 and is expected to grow at a CAGR of 9.3% during the forecast period 2022-2027. Track and trace package technologies like RFID, barcode and others offer various advantages like real-time analytics, improved brand loyalty and operational efficiencies in contrast to holograms, Watermarks and other anti-counterfeiting technologies. Additionally, inventory visibility across the entire supply chain and higher customer service quality are made possible by RFID technology. As a result, the demand for Track and Trace packaging technologies is increasing as compared to other anti-counterfeit technology types. This factor is accelerating the Anti-counterfeit Electronics And Automobiles Packaging market growth. 

Anti-counterfeit Electronics And Automobiles Packaging Market Segment Analysis – by End-use Industry 

The electronics segment held the largest Anti-counterfeit Electronics And Automobiles Packaging Market share in 2021 and is projected to grow at a CAGR of 9.5% during the forecast period 2022-2027. Electronics brands are protected by anti-counterfeit packaging from the harm that might happen from fake goods, such as lost sales, a damaged reputation and safety risks. According to Japan Electronics and Information Technology Industries Association (JEITA), in 2020, the worldwide electrical and electronics production was US$3,033.7 billion and in 2021, it was about US$3,330.6billion, an increase of about 9.8%. Also, according to Global System for Mobile Communication, there would be 700 million new mobile subscribers in the world by the year 2025. Hence, the surge in electronics production is expected to boost the demand for Anti-counterfeit Packaging. This, in turn, would propel the market growth in the coming years.

Anti-counterfeit Electronics And Automobiles Packaging Market Segment Analysis – by Geography 

Asia-pacific is the dominating region in this market as it held the largest Anti-counterfeit Electronics And Automobiles Packaging Market share of up to 48% in 2021. The sectoral growth of Asia-pacific economies is been fueled by the growth of various industries such as electrical & electronics, automotive and more. Factors such as government policies aiding the electronics industry, emerging economies, technological advancement and more factors are vital for the growth of the electronics industries growth in Asia-pacific. For instance, in April 2020, the Indian government implemented Production Linked Incentive Scheme (PLI) for the electronic and electrical industry to increase electronics industry production. Moreover, according to Japan Electronics and Information Technology Industries Association (JEITA), in 2020, the total electronics production in Japan was ¥9,964,769 million (US$93,389.82 million) and in 2021, it was ¥10,954,346 million (US$99,772.18 million), an increase of 9.9%. Therefore, the growth of the electronics industry in Asia-pacific is accelerating the demand for anti-counterfeit packaging. As a result, the Anti-counterfeit Electronics And Automobiles Packaging market size is growing.

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Anti-counterfeit Electronics And Automobiles Packaging Market Drivers 

Booming Automobiles Production:

The counterfeit products utilized in automobiles are of such poor quality that they endanger countless lives in addition to impairing the performance of the vehicle in which they are used. Auto parts brands can safeguard their customers against fakes with the help of NeuroTags Anti-counterfeiting solution. The increasing adoption of passenger cars, the rapid pace of industrialization and other factors are spurring the growth of the transport industry. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2021, the global automotive production was 80,145,988 units, an increase of 2% over 2020. Thus, the growth of automobiles productions is fueling the demand for Anti-counterfeit Packaging to ensure protection from duplicate products. This variable is driving the market growth. 

Stringent International Organization & Government Regulations for Counterfeit Products:

The goal of counterfeit organizations is to make enormous profits, mainly from imitation electronics and vehicles. The automotive and electronics industries are a common target for counterfeiters, partially, because of the complexity of their goods and the numerous opportunities it presents for imitation. Thus, governments and organizations are imposing restrictions on automobiles and electronics counterfeit products to reduce the losses due to counterfeiting. For instance, public awareness campaigns similar to the UK's have been going on for a while and groups like the Automotive Anti-Counterfeiting Council, a consortium of the 11 major American automakers, are working to prohibit the sale of automobile counterfeiting products. Also, in 2021, major e-commerce sites like eBay took steps to implement anti-counterfeit policies because the online market is such a hotbed for the sale of counterfeit goods. Thus, the restrictions related to automobiles and electronics counterfeit products are aiding the Anti-counterfeit Electronics And Automobiles Packaging market growth.

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Anti-counterfeit Electronics And Automobiles Packaging Market Challenge 

High Costs Associated with Anti-counterfeit Technology:

Companies all across the world are becoming increasingly conscious of the issues posed by counterfeiting. It is vital for businesses to ensure that their trademarks are secured by successfully adopting anti-counterfeiting solutions to combat the threat. However, the creation of anti-counterfeit packaging requires substantial upfront setup and innovation expenses, which deter both new businesses and potential customers from fully embracing anti-counterfeit solutions. Additionally, some current technologies, like barcodes and QR codes, are simple to copy or spoof without the right customer awareness. Thus, the high cost associated with the anti-counterfeit technology may restrict the Anti-counterfeit Electronics and Automobiles Packaging industry growth during the projected forecast period.

Anti-counterfeit Electronics And Automobiles Packaging Industry Outlook:

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Anti-counterfeit Electronics And Automobiles Packaging Market. The top 10 companies in the Anti-counterfeit Electronics And Automobiles Packaging Market are: 

Giesecke & Devrient (G&D) 

Impinj Incorporation 

Datamax-O'Neil (Honeywell) 

Alien Technology Corp 

AlpVision 

InkSure Technologies Inc 

IAI industrial systems 

Zebr Technologies Corp 

Avery Dennison Corp 

Applied DN Science 

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Recent Developments 

In July 2021, Authentix, the industry leader in authentication and information services, acquired Strategic IP Information Pte Ltd, Asia's top online brand and content rights protection provider (SIPI). The acquisition also involved Anti-counterfeit for automobile applications. 

In May 2020, SICPA, a leader in product security, revenue realization and track & trace solutions, introduced new, integrated product security labels with cutting-edge, counterfeit-resistant visual effects and secure traceable codes. This product can covert features to safeguard brands and customers as the prevalence of fake goods reaches an all-time high.

In March 2020, Flexpol sp. z o.o. (Flexpol), which was doing business as Innovia Poland, was acquired by CCL Industries Inc. The company's capacity to support the Anti-counterfeit label business in the European continent was strengthened by this acquisition.

Relevant Reports

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Conductive Polymers Market- Forecast (2023 - 2028)

The Conductive Polymers Market size is forecasted to grow at a CAGR of 4.7% during the forecast period 2022-2027 and reach US$4.7 billion by 2027. Conductive polymers are organic polymers capable of conducting electricity. They can be categorized into various types which include polyacetylene, polyaniline, polyfuran, polythiophene, polypyrrole and more. In 2020, the COVID-19 lockdown had significantly reduced production activities as a result of the country-wise shutdown of manufacturing sites, shortage of labor and the decline of the supply and demand chain all across the world, thus, affecting the conductive polymers industry. However, a steady recovery in automobile production has been witnessed in India since 2021. Conductive polymers are primarily used in the automotive industry for the production of LED lighting, sensors, batteries and other electronic applications. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the total global automobile production reached 80.2 billion units in 2021, an increase of 3% as compared to 77.7 billion units in 2020. An increase in automotive production along with the surging demand from the solar power industry is expected to drive the growth of the conductive polymers market size in the upcoming years. On the other hand, the low conductivity of conductive polymers may confine the growth of the market.

Conductive Polymers Market Report Coverage

The “Conductive Polymers Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Conductive Polymers Market.

By Type: Polyacetylene, Polyaniline, Polypyrrole, Polythiophene, Polyfuran, Others By Synthesis Process: Chemical Synthesis and Electro Copolymerization By Application: Solar Cells, Printed Electronic Circuits, Light-Emitting Diodes, Actuators, Supercapacitors, Sensors, Displays, Bio-Implants, Others By End-Use Industry: Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Aerospace (Commercial, Military, Others), Electrical & Electronics, Power Generation, Medical, Coatings, Others By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Denmark, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America), the Rest of the World (the Middle East and Africa)

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Key Takeaways

The polyaniline segment held a significant share in the Conductive Polymers Market in 2021. Its wide range of characteristics and excellent chemical resistance made it stand out in comparison to other types of conductive polymers in the market.

Electrical & electronics industry held the largest share in the Conductive Polymers Market in 2021, owing to the increasing demand for conductive polymers required for the production of electronic components, such as displays, batteries, OLED, printing electronic circuits, actuators and other electronic components.

Asia-Pacific dominated the Conductive Polymers Market in 2021, owing to the increasing demand for conductive polymers from the electrical & electronic sectors in the region.

A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Conductive Polymers Market Report.

Conductive Polymers Market Segment Analysis – by Type

The polyaniline segment held a significant Conductive Polymers Market share in 2021, owing to its increasing demand due to the benefits it offers over other types of conductive. For instance, polyaniline offers a controllable and wide range of conductivity as compared to polyacetylene, polypyrrole, polyfuran and other types of conductive polymers. It can be easily blended with various commodity polymers which include polyethylene, polypropylene, polystyrene and more. Moreover, it offers higher melt processing performance along with excellent chemical resistance, flexibility and adaptability in comparison to other types of conductive polymers, which makes it ideal for use in electronic equipment and devices. Hence, all of these benefits are driving its demand over other types of conductive polymers, which in turn, is expected to boost the market growth during the forecast period.

Conductive Polymers Market Segment Analysis – by End-Use Industry

The electrical & electronics industry held the largest Conductive Polymers Market share of over 25% in 2021, owing to its increasing demand from the electrical & electronics sectors across the world. For instance, according to recent insights published on Growth from Knowledge (GRK) in September 2021, the global consumer electronics industry obtained a total revenue growth of US$42.8 billion during the first quarter of 2021, an increase of 18% in comparison to 2020, owing to an increase in electronic production. It further states that the GDP growth rate of consumer electronics which includes electronic appliances and gadgets such as smartphones, computers, television, laptops, tablets and more in countries like India, China, the U.S and regions like Europe is expected to increase up to 8.1%, 5.7%, 1.4% and 1.7% respectively by the end of 2022. According to the Japan Electronics and Information Technology Industries Association (JEITA), the electronics production by the global electronics and IT industries is expected to increase by 5% and reach up to US$3,536.6 billion by the end of 2022 as compared to 2021. Furthermore, the total production of display devices by the global electronics industry reached up to US$178.3 billion in 2021, an increase of 24% from US$144.2 billion in 2020.

In this way, such surging electronic production across the world is expected to increase the demand for conductive polymers such as polyacetylene, polyaniline, polypyrrole and more, for use in printed electronic circuits, light-emitting diodes, capacitors, sensors and other components of such electronic devices. This is expected to expand the growth of the conductive polymers market size during the forecast period.

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Conductive Polymers Market Segment Analysis – by Geography

The Asia Pacific held a dominant Conductive Polymers Market share of around 46% in the year 2021. The consumption of conductive polymers is particularly high in this region due to its increasing demand from the electrical & electronics sector. For instance, according to recent insights from the Semiconductor Industry Association, China accounted for around 35% of the world’s electronic devices and was responsible for 30% to 70% of the global PC, TV and mobile phone shipments in 2020. According to the Japan Electronics and Information Technology Industries Association (JEITA), the global total electronics production by Japanese electronics and IT companies reached ¥37,300 billion (US$339.7 billion) in 2021, an increase of 8% in comparison to 2020. Furthermore, according to a recent study published in the Economic Times (Telecom) in 2021, electronic manufacturing and production were valued at around US$100 billion in India. It further states that mobile manufacturing in India surpassed INR 90000 crore (US$12 trillion) in 2021, as per the statement made by the Indian IT Minister.

Thus, the surging growth of the electronics sector in the region is expected to increase the demand for conductive polymers such as polyacetylene, polyaniline, polypyrrole and more, for the production of capacitors, sensors, printed electronic circuits, light-emitting diodes and other electronic components utilized in such industry. This is expected to accelerate the market growth during the forecast period.

Conductive Polymers Market Drivers

An increase in automobile production

Conductive polymers are primarily used in the automotive industry for the production of LED lighting, sensors, printed circuit boards, batteries and other electronic applications. Its properties such as controllable and wide range of conductivity, higher melt processing performance along with excellent chemical resistance, flexibility and adaptability make them ideal for use in such automotive applications. According to a recent study published by the German Association of Automotive Industry during the fourth quarter of 2020, the new registration of motor vehicles reached up to 16,763 units in Europe, 37,467 units in Asia, 3080 units in South America, 17,421 units in North America, 12,733 units in Western Europe and 5180 units in other regions worldwide. Likewise, in August 2021, Ford commenced the development of its automobile plant in Germany. The new facility will be responsible for the assembly of a new electric vehicle and aims at increasing electric vehicle production in the country. Hence, an increase in production from the automotive industry is expected to increase the demand for conductive polymers, owing to their above-mentioned properties. This is expected to accelerate the growth of the market in the upcoming years.

Surging demand from the solar power industry

Conductive polymers such as polypyrrole and polyaniline are primarily used in the production of solar cells, transistors and other solar applications, owing to their lower costs and high electrical conductivity. According to the Global Outlook for Solar Power Industry published by the Global Solar Council, a total of 138.2 GW solar PV capacity was installed across the world during 2020, which indicated an increase of 18% in comparison to 117.6 GW solar in the year 2019. China was the leading country with 48.2 GW of solar PV capacity installed in 2020. This is followed by the US with 19.3 GW, Vietnam with 11.6 GW, Japan with 8.2 GW and Australia with 5.1 GW of total solar PV capacity installed by 2020. Furthermore, in 2019, the Middle East Solar Industry Association (MESIA) announced that at least US$15 billion worth of solar power projects are expected to operate in the region in the next five years. Thus, such a surging implementation of solar energy along with the growth of the solar power industry is expected to increase the demand for conductive polymers for use in solar cells, transistors and other solar applications, owing to their high electrical conductivity. This upsurge is expected to drive the growth of the market in the upcoming years

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Conductive Polymers Market Challenges

Low conductivity of conductive polymers

Conductive polymers exhibit lower electrical and thermal conductivity in comparison to metals. Higher initial tooling costs, limited range of working temperature and higher lead time for tool development are some of the common problems associated with the production of conductive polymers. Moreover, conductive polymers have poor electroactive stability and lesser processability in comparison to metals. They also have poor mechanical strength and are less stable at higher temperatures as opposed to metals. Furthermore, in the case of storage, conductive polymers can lose their conductivity. Thus, all of these limitations associated with conductive polymers may confine the growth of the conductive polymers industry during the forecast period.

Conductive Polymers Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Conductive Polymers Market. The top companies in Conductive Polymers Market are:

3M Company

Covestro AG

Eeonyx Corporation

Henkel AG & Co. KGaA

Hyperion Catalysis International

KEMET Corporation

MacDermid, Inc.

Merck & Co., Inc.

PolyOne Corporation

The Lubrizol Corporation

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Electroactive Polymers Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code: CMR 0300

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European Heavy-Duty Equipment Coating Market - Forecast (2023 - 2028)

The European Heavy-Duty Equipment Coating Market size is projected to grow at a CAGR of 3.5% during the forecast period 2022-2027 and reach US$2.2 billion by 2027. Heavy-duty equipment coatings are primarily composed of epoxy, urethane, acrylic, alkyd, polyester and other resins. Heavy-duty equipment coating is used in a wide range of industries such as agriculture, mining, construction, oil & gas and other industries. Heavy-duty equipment coatings are primarily used in heavy equipment utilized in multiple industries in order to protect such equipment from corrosion and degradation along with extending their shelf life. In 2020, the COVID-19 lockdown significantly reduced production activities as a result of the country-wide shutdown of manufacturing sites, shortage of labor and the decline of the supply and demand chain all across Europe, thus, affecting the European heavy-duty equipment coating industry. For instance, the coatings industry including heavy-duty equipment coating witnessed a decline of 6% in 2020, owing to the impact of the COVID-19 pandemic. However, a steady recovery in equipment production has been witnessed across Europe since 2021, which in turn, is driving the demand for heavy-duty equipment coating in Europe. For instance, according to the Committee for European Construction Equipment (CECE), the construction equipment sector including heavy-duty equipment in Europe witnessed a growth of 24% in 2021 as compared to 2020. Surging demand for heavy-duty equipment along with the increasing demand for low VOC (Volatile Organic Compounds) coatings is expected to drive the growth of the European heavy-duty equipment coating market size in the upcoming years. On the other hand, fluctuating prices of raw materials may confine the growth of the market.

European Heavy-Duty Equipment Coating Market Report Coverage

The report: “European Heavy-Duty Equipment Coating Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the European Heavy-Duty Equipment Coating Market.

By Resin Type: Epoxy, Acrylic, Alkyd, Urethane, Polyester, Polyethylene, Others. By Coating Technology: Water-Based, Solvent-Based and Powder-Based. By End-Use Industry: Agriculture (Tractors, Harvesters, Rotavator, Others), Mining (Mining Machinery, Underground Mining Equipment), Construction (Cranes, Concrete Mixers, Excavator, Loaders, Graders, Bulldozers, Others), Chemical (Agitators, High-Shear Mixers), Oil & Gas (Tanks, Heat Exchangers, Evaporators, Cooling Towers), Energy & Power (Steam Generators, Turbo Generators, Turbines, Steel, Others). By Country: UK, Germany, France, Italy, Netherlands, Spain, Denmark, Belgium and the Rest of Europe.

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Key Takeaways

The acrylic resin segment held a significant share in the European Heavy-Duty Equipment Coating Market in 2021. Its wide range of characteristics, corrosion resistance and heat resistance properties made it stand out in comparison to other resins in the market.

Water-borne coating technology held the largest share in the European Heavy-Duty Equipment Coating Market in 2021, owing to its increasing demand and benefits such as low VOC (Volatile Organic Compounds) and HAP (Hazardous Air Pollutant) levels over other types of coating technology.

Germany dominated the European Heavy-Duty Equipment Coating Market in 2021, owing to the increasing demand for heavy-duty equipment coating from the construction and agriculture sectors in the country.

A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the European Heavy-Duty Equipment Coating Market Report.

European Heavy-Duty Equipment Coating Market Segment Analysis – By Resin Type

The Acrylic resin segment held a significant European Heavy-Duty Equipment Coating Market share of over 18% in 2021, owing to its increasing demand due to the characteristics and benefits it offers over other types of resin. For instance, it offers a wide range of characteristics, such as easy processing, corrosion resistance, along with higher protection from exposure to rain, wind, snow, UV light and other factors as compared to urethane, alkyd and other resins. Moreover, acrylic resins are easier to process and have low reduction during cure in comparison to other types of resins. Furthermore, it provides excellent weather resistance, oxygen permeability, high strength, excellent hardness and exterior durability which makes it ideal for use in heavy-duty equipment coating in comparison to other resins. Hence, all of these benefits are driving its demand over other types of resins, which in turn, is expected to boost the market growth in Europe during the forecast period.

European Heavy-Duty Equipment Coating Market Segment Analysis – By Coating Technology

The water-based coating technology held the largest European Heavy-Duty Equipment Coating Market share of over 25% in 2021, owing to a range of advantages they offer over other types of coating technology. Water-based coatings are surface coatings that contain 80% water and a small number of other solvents such as polyvinyl ether and glycol. It offers a wide range of properties and benefits such as excellent adhesion properties, good resistance to heat and abrasion, along with anti-corrosion properties in comparison to solvent-based and other types of coatings. Moreover, water-based coatings are environment friendly due to low VOC (Volatile Organic Compounds) and HAP (Hazardous Air Pollutant) levels which makes them less toxic and flammable in comparison to solvent-borne and other coating technology. Thus, all of these properties of water-based coatings are expected to increase their demand for use in heavy-duty equipment coating. This is expected to expand the European heavy-duty equipment coating market size during the forecast period.

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European Heavy-Duty Equipment Coating Market Segment Analysis – By Country

Germany held a dominant European Heavy-Duty Equipment Coating Market share of over 28% in the year 2021. The consumption of heavy-duty equipment coating is particularly high in this region due to its increasing demand from the agriculture and construction sectors in the country. For instance, the construction equipment industry including heavy-duty construction equipment in Germany witnessed a significant growth of 22% in 2021 as compared to 2020. Moreover, according to the Committee for European Construction Equipment (CECE), Germany accounted for 23% of the total construction equipment sales in Europe in 2021, indicating an increasing demand and consumption of equipment including heavy-duty equipment from the construction sector in the country. Furthermore, according to the European Agriculture Machinery Association, registration of new agricultural tractors in Germany reached around 34,472 units in 2021, representing an increase of 8.6% in comparison to 2020.

Heavy-duty equipment coating is primarily used in heavy machinery, tools, or equipment which include cranes, excavators, tractors, harvesters and more utilized in multiple industries such as construction and agriculture in order to protect such equipment from corrosion and degradation along with extending their shelf life. It also helps in enhancing the ability of such heavy-duty equipment to withstand environmental conditions while improving its performance. Thus, the surging demand for heavy-duty equipment from the construction and agricultural sectors in the country is expected to increase the demand for heavy-duty equipment coating, owing to its above-mentioned benefits. This is expected to accelerate the growth of the European Heavy-Duty Equipment Coating market during the forecast period.

European Heavy-Duty Equipment Coating Market Drivers

Surging demand for heavy-duty equipment from multiple industries

Heavy-duty equipment coatings are primarily applied to heavy-duty equipment such as cranes, excavators, tractors and crawlers; and are more utilized in multiple industries such as construction, agriculture, mining and other industries. Its properties such as durability and strength, along with excellent resistance to corrosion, wear and abrasion make them ideal for coating heavy-duty equipment utilized in such industries. The factors such as increasing infrastructure development projects, new mining projects and technological advancements in the agricultural sector are driving the demand for heavy-duty equipment for use in such industries in Europe. According to the European Agriculture Machinery Association, tractor registrations in Spain increased significantly in 2021, representing a growth of 10% in comparison to 2020. Among these, 94 units were crawlers, 5,533 units were narrow track and 5,278 units were standard tractors. It further states that tractor registrations in the UK increased by 25% during the first half of 2021 as compared to the first half of 2020. Moreover, France witnessed the registration of 36,053 new tractors in 2021, the highest recorded value since 2013. Furthermore, according to the Committee for European Construction Equipment (CECE), the UK accounted for 13% of the total construction equipment sales in Europe in 2021, followed by France with 12%, Italy with 8% and Poland with 4%, indicating an increasing demand and consumption of equipment including heavy-duty equipment from the construction sector in the region.

In this way, an increase in demand for heavy-duty equipment from the agricultural and construction sectors in Europe is expected to increase the demand for heavy-duty equipment coating, owing to its above-mentioned benefits. This is expected to accelerate the growth of the market in Europe in the upcoming years.

An increase in demand for low VOC (Volatile Organic Compounds) coatings

The European Commission-Paints Directive regulates the use of coatings and has listed the laws for the permissible limits of industrial coatings application including heavy-duty equipment coating. Since most of the heavy-duty equipment coatings contain VOCs (Volatile Organic Compounds) or HAPs (Hazardous Air Pollutants), this regulation was primarily enforced with those elements in mind. It further states that industrial coatings including heavy-duty equipment coatings should be performed effectively as per the regulation under the European Commission-Paints Directive. The misuse of these regulations can lead to a serious charge or penalty. Hence, all the manufacturers from multiple industries are bound to follow these regulations and tend to opt for low-VOC coatings that are more environmental-friendly in order to avoid such penalties. This, in turn, has increased the demand for low-VOC coatings such as water-based and powder coating technologies for use in heavy-duty equipment. For instance, Heubach GmbH, a European-based manufacturer, launched an eco-friendly water-based coating for use in offshore heavy-duty equipment for anti-corrosion purposes to enhance the equipment’s performance, durability and shelf life. Likewise, Zerust, a coating company based in Europe had launched a water-based coating for use in heavy-duty equipment applications to protect such equipment from corrosion. Thus, such increasing adoption of low VOC and eco-friendly coatings by European enterprises for use in heavy-duty equipment utilized in multiple industries is anticipated to drive the growth of the market in Europe in the upcoming years.

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European Heavy-Duty Equipment Coating Market Challenge

Fluctuating prices of raw materials may confine the growth of the market

Shortage and lack of availability of key raw materials along with a significant increase in prices are causing disruption to the coatings industries in Europe and other regions across the world. For instance, British Coatings Federation Ltd (BCF) monthly raw material prices survey shows the largest increase in prices of solvents in Europe in January 2021 in comparison to 2020. The results depicted an increase in prices of acetone by 123%, n-butyl acetate by 91%, IPA by 41% and n-butanol by 54%. Likewise, a sharp increase in prices for epoxy resins had been witnessed in Europe during the first quarter of 2021, an increase of 60% in comparison to the third quarter of 2020. It further states that other raw materials prices in Europe required for the production of coatings are also expected to increase throughout the year 2022. Hence, such instability and fluctuating prices of raw materials in Europe may confine the growth of the European heavy-duty equipment coating industry during the forecast period.

European Heavy-Duty Equipment Coating Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the European Heavy-Duty Equipment Coating market. The top companies in the European Heavy-Duty Equipment Coating market are:

Sherwin-Williams

BASF

Hempel AG

Axalta

AkzoNobel

PPG Industries

Kansai Helios

H.B. Fuller

Arkema

3M Company

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Recent Development

In May 2019, Hempel launched its new coating solution for use in heavy-duty equipment. The new coating is primarily designed to reduce the production time and maximize the service life of the heavy-duty equipment, thus, improving the overall quality and productivity of original equipment manufacturers (OEMs).

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Aluminum Nickel Catalyst Market - Forecast (2022-2027)

The Aluminum Nickel Catalyst Market size is estimated to reach more than US$5.6 billion by 2027, after growing at a CAGR of 4.1% during the forecast period 2022-2027. Aluminum nickel catalyst is a high-performance catalyst that is utilized in various applications in different end-use industries. The demand for aluminum nickel alloy is massive in the petroleum, pharmaceutical, rubber, paint and agrochemical industries. The growing chemical sector is driving the aluminum nickel catalyst market growth. According to Invest India, the quantum of production of major chemicals increased to 115.82 lakh tonnes during 2021-22 as compared to 101.52 lakh tonnes during the corresponding period of the previous year, recording an increase of 14.09%. Moreover, the increasing requirement for aluminum nickel catalysts in the automotive sector, due to their usage in the production of rubberized automotive body parts, is anticipated to upsurge the growth of the aluminum nickel catalyst industry during the forecast period. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in chemical and polymer industries all across the world. It had a significant impact on the growth of the Aluminum Nickel Catalyst market size.

Report Coverage

The “Aluminum Nickel Catalyst Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Aluminum Nickel Catalyst industry.

By Product Type: Activated and Non-activated.

By Application: Hydrogenation, Desulfurization, Dehydrogenation and Others.

By End-use Industry: Refining, Chemical, Polymer and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

The Asia-Pacific region dominates the Aluminum Nickel Catalyst market owing to the rising growth of the chemical industry. According to Invest India, fertilizer production increased by 8.2 percent in June 2022 over June 2021. 

Rapidly rising demand for Aluminum Nickel catalysts in the agrochemical industry as agrochemicals intermediates, for the production of insecticides, pesticides, fertilizers and other agrochemicals has driven the growth of the Aluminum Nickel Catalyst market.

The increasing demand for Aluminum Nickel Catalysts in the automotive sector, due to their usage in the production of automotive body parts made up of rubber and polymer, has been a critical factor driving the growth of the Aluminum Nickel Catalyst market in the upcoming years.

However, the problems associated with Aluminum Nickel Catalysts such as their short lifespan and lower stability can hinder the growth of the Aluminum Nickel Catalyst market.

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Aluminum Nickel Catalyst Market Segment Analysis – by Application

The hydrogenation segment held the largest share of the Aluminum Nickel Catalyst market in 2021 and is estimated to grow at a CAGR of 4.3% during the forecast period 2022-2027. The aluminum nickel catalyst is mainly utilized in the hydrogenation of various functional groups, including nitro, azide, carbon-carbon double bond, nitrile and oxime groups. This catalyst is also applied in hydrogenation reactions, involving very high pressure and temperature. Moreover, aluminum nickel catalysts are utilized in a range of other hydrogenation applications such as nitro compounds, carbonyls, alcohols, nitriles, amines, acetylenes, olefins and saturates. Additionally, they are extensively used in reductive amination, ammonolysis of alcohol and reductive alkylation. The end-use of these hydrogenation reactions is found in the petrochemical, food processing and petroleum industries. In the petroleum industry, hydrogenation is applied in hydrocracking, to break heavy crude’s long hydrogen carbon chains into lighter petroleum products such as gasoline, jet fuel and diesel. Thus, all these exhibit characteristics of hydrogenation make it a preferred choice over the other applications of Aluminum Nickel Catalyst that are driving its segmental growth.

Aluminum Nickel Catalyst Market Segment Analysis – by End-use Industry

The chemical industry held the largest share of the Aluminum Nickel Catalyst Market in 2021 and is estimated to grow at a CAGR of 4.8% during the forecast period 2022-2027. Aluminum nickel catalyst includes fine particles of an aluminum nickel alloy. In the chemical industry, this catalyst presents a high level of performance when utilized in catalytic hydrogenation reactions. These reactions are applied in the production of agrochemicals intermediates, rubber additives, dye, sorbitol and drug intermediates. According to International Trade Administration (ITA), Indonesia is aiming to obtain an investment of US$31.5 billion in the chemical industry by 2023 and to decrease the sector’s imports by 40%. The government estimates to reap the advantages of various new chemical plants that are currently underway. Moreover, in 2022, INEOS Nitriles invested in a world-scale Acetonitrile production facility at their key operating site in Köln, Germany. Acetonitrile is a key component in the agrochemicals and bioscience sectors. Thus, with the rising chemical sector, the market for Aluminum Nickel Catalysts would further increase over the forecast period.

Aluminum Nickel Catalyst Market Segment Analysis – by Geography

Asia-Pacific region held the largest share of up to 36.9% in the Aluminum Nickel Catalyst market in 2021, due to the increasing requirement for aluminum nickel catalyst in developing countries such as China, Japan, India and South Korea. India is expected to continue its dominance in the aluminum nickel catalyst market during the forecast period. This is due to the growth of the chemical and pharmaceutical industries in the country. According to International Trade Administration (ITA), the Indian chemicals industry stood at US$178 billion in 2020 and is projected to reach US$300 billion by 2025. Moreover, in 2022, Clariant’s Catalysts business has been awarded three new contracts by China’s Lihuayi Group for its upcoming chemical and petrochemical manufacturing units. Such an increasing chemical sector in the APAC countries is anticipated to raise the demand for aluminum nickel alloy for its use in chemical production in the forecast period. It is proving to be a booster for the Aluminum Nickel Catalyst market size in this region.

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Aluminum Nickel Catalyst Market Drivers

Growing Agrochemical Industry:

The Aluminum Nickel Catalyst is utilized as an agrochemical intermediate, for the production of insecticides, pesticides, fertilizers and others. There have been a number of government initiatives to strengthen the agrochemicals sector in order to support farmers. According to the Indian Brand Equity Foundation, in 2021-2022, the government plans to introduce production-linked incentives (PLI) scheme to promote domestic manufacturing of agrochemicals such as insecticides, herbicides and fertilizers, with an allocation of US$32.2 million to the department of chemicals and petrochemicals. Moreover, in May 2021, Corteva Agriscience and BASF Canada Agricultural Solutions partnered toward a joint approach to weed control by recommending the combined utilization of Liberty 200 SN and Enlist herbicides on Enlist E3TM soybean acres. This would increase the utilization of herbicides and expand the market for agrochemicals. Due to these factors, the Aluminum Nickel Catalyst market size is expected to grow.

Increasing Automotive Sector:

The Aluminum Nickel Catalyst is utilized in the production of rubber, which is further used in the automotive industry for various automotive body parts. Aluminum nickel catalyst is utilized for the production of rubber and polymers to make the automotive engine’s diaphragm, engine mount, gasoline and diesel engine seals and gaskets, head gaskets, hoses and manifold gaskets. Also, it is utilized in rubber tires, airbags, floor mats, seals, bumper, cover, mud flaps and other automotive parts. In 2021, 79.1 million motor vehicles were manufactured globally - a rise of 1.3% in comparison to 2020, according to the European Automobile Manufacturers' Association (ACEA). Also, in the U.S., the manufacturing of motor vehicles increased from 62,39,401 units in 2020 to 68,57,182 units in 2021, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA). Moreover, in Austria, motor vehicle manufacturing surged from 86,300 units in 2020 to 92,000 units in 2021. With the increasing production of automobiles, it is estimated that in the upcoming years, the requirement for rubber, polymers and Aluminum Nickel Catalysts in the automotive industry would rise, which would further boost the Aluminum Nickel Catalyst industry.

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Aluminum Nickel Catalyst Market Challenges

Problems Associated with Aluminum Nickel Catalyst:

The Aluminum Nickel Catalyst is used in various industries such as pharmaceutical, chemical and others. However, its short lifespan and lower stability are major concerns in its commercial applications. For instance, on drying, aluminum-nickel catalyst catches fire due to atmospheric conditions. Thus, for the purpose of storage, it has to be submerged in a compatible solvent such as ethanol, dioxane and water. Also, the aluminum-nickel catalyst presents some levels of toxicity, that are known to hamper its demand and the industrial growth rate of aluminum-nickel catalyst. Therefore, the problems associated with Aluminum Nickel catalysts would create hurdles for the growth of the Aluminum Nickel Catalyst market in the forecast period.

Aluminum Nickel Catalyst Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Aluminum Nickel Catalyst markets. The top 10 companies in the Aluminum Nickel Catalyst market are:

Alfa-Aesar

Axens

BASF SE

Evonik In-dustries AG

Haldor Topsoe A/S

Hangzhou Jiali metal Technology Co. Ltd.

Johnson Matthey

Sigma Aldrich

Vineeth Chemicals

W. R. Grace & Co

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Nitrogen Trifluoride (NF3) & Fluorine Gas (F2) Market- Forecast (2022-2027)

The Nitrogen trifluoride (NF3) & Fluorine Gas (F2) market size is estimated to reach US$22.3 billion by 2027 after growing at a CAGR of 11.6% from 2022 to 2027. Nitrogen trifluoride (NF3) is an inorganic compound and is colorless as well as non-flammable. Fluorine gas (F2) is a compound having a pungent smell and is of pale yellow color. Fluorine gas (F2) is considered as the most strongest oxidizing agents having high corrosive nature. Nitrogen trifluoride (NF3) is considered to be less harmful to the environment if produced and disposed of in a safe manner. Nitrogen trifluoride (NF3) shows excellent properties like nonreactive and water-insoluble. Fluorine gas (F2) is a covalent compound and is one of the most powerful oxidizing agents because it reacts with almost every element. The use of nitrogen trifluoride (NF3) & Fluorine gas (F2) market in energy and power generation in solar photovoltaic cells and uranium enrichment process in nuclear power plants will drive the Nitrogen trifluoride (NF3) & Fluorine gas (F2) market. The harmful environmental effect of NF3 will be a restraint in the Nitrogen trifluoride (NF3) & Fluorine Gas (F2) industry.

COVID-19 Impact

The COVID-19 had impacted the nitrogen trifluoride (NF3) & fluorine gas (F2) market. This is because there was an initial slowdown in the energy and power segment during the covid period. According to a report by International Atomic Energy Agency, Electricity production from nuclear reactors decreased by around 4% which accounted for Major reductions in European Union by 11%, then Japan by 33%, and then the United States by 2%. Additionally, there was an initial slowdown in solar energy production as well. For instance, according to a report by Solar Energy Industries Association, US solar industry declined by around 37% from 2019. This impacted the demand nitrogen trifluoride (NF3) & fluorine gas (F2) because of the use of NF3 and F2 in solar photovoltaic cells manufacturing and uranium enrichment processes in nuclear power plants respectively. Thus, covid had a negative impact on the nitrogen trifluoride (NF3) & fluorine gas (F2) market.

Report Coverage

The report: “Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Industry.

By End Use Industry: Electrical & Electronics (Semiconductor chips, Flat panel displays, Electronic Cleaning (Liquid Crystal Displays, Plasma Enhanced Chemical Vapor Deposition)), Energy & Power (Solar cells (Photovoltaic manufacturing), Nuclear Power Plants (Uranium Enrichment)), Chemical Industry (Sulphur hexafluoride) and Others 

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

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Key Takeaways

The growth in nuclear and solar energy production has increased the demand of Nitrogen trifluoride (NF3) & Fluorine gas (F2) Market. This is because of the use of NF3 in the manufacture of films in solar photovoltaic cells and the use of F2 in the uranuium enrichment process for nuclear fuel production.

Asia Pacific will be the largest and the fastest-growing region in the nitrogen trifluoride (NF3) & fluorine gas (F2) market . This is because of the significant growth of nuclear power in Asia region.

Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market Segment Analysis – By End Use Industry

Energy & Power industry is the fastest-growing segment in the Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market and is expected to grow at a CAGR of 12.6%.  This is because of the use of NF3 and F2 in solar and nuclear energy generation respectively. For instance, NF3 has been used extensively in the photovoltaic solar cell production for texturing the thin films, and the reactor cleaning of the film silicon deposition. According to International Energy Agency Photovoltaic Power Systems Programme, the global Photovoltaic market saw an increase of around 14% in 2020 as compared to 2019.  Thus, the growth of photovoltaic solar cells will increase the demand for Nitrogen trifluoride (NF3). F2 on the other hand is used in the uranium enrichment process in nuclear reactors. This is because the element fluorine contains only one naturally occurring isoptope and thus benefit in separating U235 from U238, and the nuclear fuel requires a higher concentration of U235 isotope. Additionally, UF6 exist in gaseous form in operating temperatures. According to International Energy Agency Report, Nuclear power energy increases by 2% in 2021 from 2020. This means there will be more requirement for uranium enrichment in the forecast period and thus, the demand for F2 will increase. Thus, the increase in demand for nuclear and solar energy will increase the demand for Nitrogen trifluoride (NF3) & Fluorine gas (F2) Market.

Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market Segment Analysis – By Geography

Asia Pacific will be the largest and the fastest-growing region in the Nitrogen trifluoride (NF3) & Fluorine gas (F2) Market and is expected to grow at a CAGR of 13.5%.  This is because of the growing demand of nuclear energy in Asia-Pacific region. According to an article by World Nuclear Organization, in Asia, nuclear power is growing significantly as there are around 135-140 operating nuclear power reactors, and around 30 reactors are under construction. F2 is vitally used in nulear energy industry as it produces Uranium hexafluoride and is hence used in uranium enrichment. Asia-Pacific region is also witnessing an increased growth in photovoltaic market. According to International Energy Agency, out of the top 10 countries which represented around 78% of the global Photovoltaic market in 2020, 6 countries are from Asia-Pacific region which includes Australia, China, India, Japan, Korea and Vietnam. Thus, the growth of photovoltaic cell market will increase the demand for NF3 as  nitrogen trifluoride are used in the manufacture of photovoltaic cells for solar panels. Thus, Asia-Pacific region will witness a significant increase in demand for Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market.

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Nitrogen Trifluoride (NF3) & Fluorine Gas (F2) Market Drivers

Increasing growth in Energy & Power industry

There has been significant growth in Energy & Power industry from the past few years, which has increased the demands of Nitrogen trifluoride (NF3) & Fluorine gas (F2) Market. According to a report by International Energy Agency, the global solar PV electricity generation is expected to increase by around 18% in 2021. This means that there is an increase in demand for solar panels and photovoltaic cells which will increase the demand of NF3 in the market for the manufacturing of thin solar films and cleaning of silicone deposition. Thus, will drive the Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market.

Growing demand for Nitrogen trifluoride (NF3) & Fluorine Gas (F2) in the Asia Pacific region

Asia Pacific will drive Nitrogen trifluoride (NF3) & Fluorine gas (F2) Market. Developing countries like China, India, Japan, Vietnam has witnessed an increase in the growth of Nuclear energy production. For instance, According to a report by world nuclear organization South Korea meets around 25% of its electricity needs from nuclear power. Thus there will be growth in nuclear fuel from uranium enrichment which will drive the market. 

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Nitrogen Trifluoride (NF3) & Fluorine Gas (F2) Market Challenges

Envrionmental effects are the biggest challenge to the Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market

The biggest challenge for Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Market is the harmful environmental effects of NF3 and F2 gases. This is because Nitrogen trifluoride is considered a greenhouse Gas and thus is a threat to environmental health. According to a World Bank report, NF3 is 17000 times more potent than Carbon Dioxide oatings market. According to an article by Greenhouse gas protocol organization, the Greenhouse gas protocol now requires NF3 to be included in Greenhouse gas (GHG) inventories under the Corporate Standard, Value Chain (Scope 3) Standard, and Product Standard. NF3 is now considered a potent contributor to climate change. This will be a major restraint to the development of the Global Nitrogen trifluoride (NF3) And Fluorine gas (F2) Market.

Nitrogen trifluoride (NF3) & Fluorine Gas (F2) Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies that are adopted by the dominant players in the Nitrogen trifluoride (NF3) & Fluorine gas (F2) market. Nitrogen trifluoride (NF3) & Fluorine Gas (F2) top 10 companies include:

Ulsan Chemical Co. Ltd.

OCI Materials Co.

Formosa Plastics Corporation U.S.A.

Mitsui Chemicals Inc

SK Materials Co. Ltd.

Linde plc

Central Glass Co Ltd

Shandong FeiYuan Technology Co. Ltd.

Liming Research Institute of Chemical Industry Co. Ltd.

Navin Fluorine International Limited

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Oxygen Free Copper Bars Market - Forecast (2022 - 2027)

Global Oxygen Free Copper Bars Market  size is estimated to reach US$5.5 billion by 2027, after growing at a CAGR of 5.6% from 2022-2027. Oxygen free copper bars are high conductive copper alloys which are produced by melting copper in the presence of carbon or carbonaceous gases to reabsorb oxygen. They are of three types namely oxygen-free electronic, oxygen free high conductive and electrolytic tough pitch. The bars due to their rich electrical & mechanical properties have high applicability in electronic, automotive, construction and telecommunications sector, and are majorly used in plasma deposition process for making semiconductors components. Factors like increase in consumption of semiconductors from end users, growing production of electric vehicles, increase in residential construction and high consumption of electric devices like cell-phones are driving the growth of global oxygen free copper bars market. Oxygen free copper bars are majorly used in making particle accelerators components, and the regulations imposed by government organization on such device to reduce radioactive waste can also restrict usage of oxygen free copper bars. This can hamper the growth of global oxygen free copper bars industry.

COVID-19 Impact

The lockdown imposed by countries all across the world had a negative impact on end users of oxygen free copper bars like electronic, automotive and construction. In electronic sector, oxygen free copper bar is used in plasma deposition process for making semiconductor, in automotive sector it used in radiators, e-vehicle batteries, while in residential building it is used in home electric panel. The lack of availability of raw materials and workers, decreased productivity of these sectors. For instance, according to International Organization of Motor Vehicle Manufacturers, in 2020, global automobile production was 77.7 million units showing decrease of 13%. Further, according to Japan’s Ministry of Land, Infrastructure, Transport and Tourism, in March 2020, residential construction decreased to -7.6% compared to 10% increase in 2019. Also, according to World Semiconductor Trade Statistics, in 2020, the first quarter sale of semi-conductor in the U.S decreased by 3.6% compared to the same period in 2019. Such decrease in production and sales in automotive vehicles and semiconductors negatively impacted the usage of oxygen free copper bars in them. This negatively impacted the growth of global oxygen free copper bars industry.

Report Coverage

The report: “Oxygen Free Copper Bars Market Report – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Oxygen Free Copper Bars Industry

By Thickness – 1mm, 2mm, 3mm, 5mm, and 6mm – 50mm.

By Type – Oxygen-free Electronic, Oxygen Free High Conductivity, Electrolytic Tough Pitch, and Others.

By Packaging Type – Crates, Boxes, Cartons, and Others.

By Shapes – Flat, Rectangular, Square, Hexagonal, and Others.

By Application – Metal Forming, Automotive Radiators, Electronics Components & Fittings, Flashlights, Connectors, Hardware (Electrical Circuits, and Switch Terminal), Microwave Tube, Bus Bars, Transistor Components, and Others.

By End User – Automotive (Passenger Vehicles, Heavy Commercial Vehicles, Light Commercial Vehicles and Others), Electronics, Construction (Residential and Commercial), Medical, Telecommunications, and Others.

By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

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Key Takeaways

Asia-Pacific dominates the global oxygen free copper bars industry as the region consists of major end users of oxygen free copper bars like automotive and electronic in countries like China which have largest automotive market in world.

The rapid increase in population has led to increase in demand for residential buildings and apartments, which will create more usage for oxygen free copper bars for power distribution in these residential buildings.

Growing demand for electric and hybrid vehicles in regions like Europe and North America will create growth opportunities for global oxygen free copper bars industry, as oxygen free copper bars are majorly used in electric car batteries.

Oxygen Free Copper Bars Market Segment Analysis – By Type

Electrolytic tough pitch held a significant share in global oxygen free copper bars market in 2021, with a share of over 29%. Electrolytic tough pitch due to improved annealability and electrical conductivity are used in electrical applications such as power transmission and power distribution in sectors like automotive and construction. The rapid development in these sectors has led to increase in their productivity, which has positively impacted usage of electrolytic tough pitch copper bars. For instance, according European Automobile Manufacturing Association, over the first 10 months of 2021, new car registrations in the EU were up 2.2% totalling around 8.2 million units, compared to 2020. Further, according to US Census Bureau, in May 2021, construction of new houses stood at 1.54 million units compared to 1.04 million built in 2019 same month. Electrolytic tough pitch is used in semiconductor and transistors components of cars, while as busbar it is used for high current power distribution in houses. The increase in the productivity in automotive and construction sector will lead to more usage of electrolytic tough pitch copper bars for electrical application, which will boost growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Market Segment Analysis – By End User

Electronic sector held a significant share in global oxygen free copper bars market in 2021, with a share of over 24%. In electronic sector, oxygen free copper bars such as electrolytic tough pitch are used in making semiconductor components as they exhibit good electrical conductivity, mechanical properties and have low oxygen content which makes them to conduct large number of electric currents easily. The increase in usage of semiconductor has positively impacted the demand for oxygen free copper bars. For instance, according to World Semiconductor Trade Statistics, the global sale of the semiconductor industry in 2020 stood at US$ 439 billion dollars showing a 6.5% increase as compared to the 2019 i.e., US$ 412.3 billion. The increase in consumption of semi-conductors will lead to more usage of oxygen free copper bars for semiconductor manufacturing. This will boost the growth of global oxygen free copper bars industry.

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Oxygen Free Copper Bars Market Segment Analysis – By Geography

Asia-Pacific held the largest share in global oxygen free copper bars market in 2021, with a share of over 34%. The region consists of major end users of fluorinated fluids like automotive and electronics in major countries like China, India, Thailand and Indonesia. The rapid economic development has increased the rate of industrialization in these countries, thereby increasing the industrial productivity of these sectors. For instance, according to International Organization of Motor Vehicles Manufacturer, in 2021, Asia held 50% share of global automobile production volume, with China producing 26 million units, India 4.3 million units, Thailand 1.6 million units and Indonesia 1.12 million units. Further, according to National Bureau of Statistics, in 2021, China’s semiconductor production output surged 33% i.e., double the growth rate of 16% in 2020. Oxygen free copper bars are used in automotive radiators, transistors and rectifiers, and they are used to make semiconductor components through plasma deposition process. The increase in productivity of automotive & electronics sector will lead to more usage of oxygen free copper bars in them, which will positively impact the growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Market Drivers

Growing demand for E-vehicles

Semiconductor forms the heartbeat of electric vehicles as they determine the whole performance of electric system in vehicle and are necessary for batteries. Oxygen free copper bars are rich in chemical purity and electrical conductivity due to which they are used in plasma deposition process for making components of semiconductor. The growing technological advancements and high demand for pollution free vehicles has increased the consumption of electric vehicles. For instance, according to European Environment Agency, in 2020, electric car registrations in Europe for the year was 1,325,000 units compared to 550,000 units in 2019. Such increase in the consumption of electric vehicles, will increase the demand of semiconductor in them, resulting an increase in the usage of oxygen free copper bars for semiconductor production. This will boost the growth of global oxygen free copper bars industry.

Growing Residential Construction

Oxygen free copper bars is majorly used in making busbars which as a conductor is used for high current power distribution. Hence, such devices due to their high electric conductivity are majorly used in large residential buildings for power distribution. The growing level of housing projects has positively impacted the demand for busbar. For instance, according to Canada Mortgage and Housing Corporation, in Q4 of 2021, apartment construction was 38,176 units showing an increase of 11% compared to Q4 of 2020. Further, according to Federal Statistical Office, in December 2020, Germany’s residential construction output increased to 9.3% compared to 2020 same month. Such increase in residential constriction will increase demand for busbars to be used in power distribution, which will increase usage of oxygen free copper bars for making busbars. This will positively impact the growth of global oxygen free copper bars industry.

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Oxygen Free Copper Bars Market Challenges

Stringent Government Regulation

Oxygen free copper bars due to their rich mechanical and electrical properties are used to make components of particle accelerators machines, which are used in radiation research, semiconductor production, and oil & gas drilling. However, particle accelerators can pose hazards as they emit ionizing radiation while they are operating and can produce radioactive waste. Hence, certain regulations are imposed by governments to reduce radioactive waste production. For instance, US Nuclear Reforms Commission, which regulates nuclear material, including radioactive material created by particle accelerators. Such regulations can restrict particle accelerator usage in commercial applications, which will negatively impact the usage of oxygen free copper bars for making particle accelerator components. This will negatively impact the growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In global oxygen free copper bars market report, the global oxygen free copper bars top 10 companies are:

Mitsubishi Materials Corporation

Copper Braid Products

Avia Metals

Hitachi Metals Neomaterials

Citizen Metalloys Limited

SAM Dong America

KGHM Polska Miedz

Zhejiang Libo Holding Group

Watteredge

Farmer's Copper Ltd

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Recent Developments

In 2021, Adani Enterprise the flagship of Adani Group, entered into copper business by joining Kutch Copper Limited which will undertake activities like manufacturing copper rods.

In 2020, KPS Capital Partners acquired Hussey Copper which is a leading North American processor and fabricator of copper products and the largest North American manufacturer of copper bus bar.

In 2020, Siemens acquired C&S Electric which is a major producer of power protection and electric distribution products and the acquisition includes taking over switchgear components and low voltage busbars business of C&S Electric.

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Tooling Board Market Forecast 2022-2027

Tooling board market size is forecast to reach US$12.6 billion by 2027 after growing at a CAGR of 4.8% during the forecast period 2022-2027. Tooling boards are made from filled polymer materials, the most common being epoxy and polyurethane. When bonded together they form larger blanks and blocks are used to create models of CNC-machined tooling. Tooling board is also known as modeling board and styling foam. On account of their extensive applications in design, modeling, tooling, and prototyping, there is a high demand for tooling boards. The precision board is a high-density polyurethane tooling board specifically designed to meet a vast spectrum of tooling and tool-making applications that are used in the aerospace, automotive, wind energy industries. Increasing demand for the use of prototypes in motorsports is one of the major driving factors of the tooling board market.

COVID-19 Impact

The COVID-19 pandemic severely impacted the core industries such as automotive, aerospace & defense, and packaging. To flatten the curve of the infections, governments worldwide announced lockdowns, travel bans, and social distancing policies. Factories and manufacturing units were shut and economies came to a standstill for the first half of 2020. The automotive industry was severely affected. For instance, in China, sales of new vehicles fell by 92% in February 2020. In European countries, the total vehicle sales dropped by nearly 8% when compared to that of the sales in 2019. In India, many automotive manufacturers such as TVS, Mahindra, etc. stopped their production due to lockdown. The automotive industry is regarded as one of the largest employers. According to the Bureau of Labor Statistics, automakers and their suppliers employ more than one million people in the United States. With the infection rate skyrocketing and concerns over the health of employees, OEMs and factories were shut across the world. Supply chain shortages caused due to shortage of semiconductors and local restrictions also severely hit the automotive industry once economic activities resumed. For instance, Maruti Suzuki India posted a pandemic-fuelled 75% decline in domestic wholesales at 35,293 units in May 2021 compared to 1,42,454 units in April 2021. This in turn also affected the tooling board industry.   

Report Coverage

The report: “Tooling Board Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the tooling board industry.

By Product: Epoxy Tooling Board, Polyurethane Tooling Board, and Others

By Density: Low Density, Medium Density, and High Density

By Application: Styling, Modelling, Master Tooling, Light Metal Bending, Prototyping, Fixtures, and Others

By End-Use Industry:  Aerospace & Defense, Marine, Wind Energy, Automotive, Industrial, Packaging, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa)

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Key Takeaways

Europe dominates the tooling board market, owing to the number of aerospace and defense companies in the region. According to ASD Europe, in 2020, the European Defence industry generated a revenue of €119 billion, and civil aviation generated €99.3 billion.

Polyurethane tooling boards are used in lower-temperature applications. They are stable and easy to mold and produce an excellent surface finish. They are lightweight and versatile, suitable to be styled via CNC machining or by hand.

Precision boards are ideal for soft tooling and quick prototyping because it can be quickly machined and is more economical than using alternatives. They produce less dust and are eco-friendly.

The major opportunity for this market is high research spending and its increasing usage in 3D- printing prototypes. 

Tooling Board Market Segment Analysis – By Type

The polyurethane segment held the largest share of more than 30% in the Tooling Board Market in 2021. Polyurethane tooling boards are more economical compared to their epoxy counterparts. They are suitable for lower-temperature use. With polyurethane, a stable, easy-to-cut material is obtained that can handle up to 65?C or slightly more. There are high-temperature products (precision board, high-temperature hybrid-polyurethane tooling board, and others) that can handle more than 120?C. The higher temperature polyurethane boards have a higher coefficient of thermal expansion than epoxy boards of similar density.  Polyurethane tooling boards are extensively used in the automotive industry as well as other industries where prototyping and modeling work is required. The precision board is a high-density polyurethane tooling board that is designed to meet a broad range of tooling and tool making applications so it is widely used in the aerospace, automotive, and wind energy industries. Polyurethane tooling boards provide numerous benefits such as ease of machining, stability, fine edge definition, and low levels of residual particles for easy cleanup. Based on the above-mentioned advantages, the polyurethane segment is set to dominate the tooling board market over the forecast period.

Tooling Board Market Segment Analysis – By End-Use Industry

The aerospace and defense segment held the largest share in the tooling board market at 33% in 2021. Tooling boards or modeling boards are the most preferred material for several industries such as the aerospace and automotive industries as they are used to make prototype models and designs. During the prototyping phase, design engineers and program managers have to keep the costs low and turnaround times fast while still producing accurate models. The demand for tooling board prototypes is high as they provide the opportunity for process development and verification early in the project thus, shortening the approval process resulting in timely delivery of the final product. The wide usage of tooling boards for making composite tools, parts, and molds for the aerospace industry has led to a huge dominance of this segment in the tooling board market. According to the 2021 Boeing Market Outlook (BMO), the BMO projects a $9 trillion market over the next decade for aerospace products and services. The demand for domestic travel is leading to the recovery in the commercial sector. The Commercial Market Outlook (CMO) projects 10-year global demand for 19,000 commercial airplanes valued at $3.2 trillion. Boeing's 20-year commercial forecast through 2040 projects demand more than 43,500 new airplanes valued at $7.2 trillion, an increase of about 500 planes over the forecast of 2020. Thus, with the increased demand for new airplanes, the demand for tooling boards for prototypes is also expected to rise and thereby resulting in the aerospace and defense industry dominating the tooling board market over the forecast period.

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Tooling Board Market Segment Analysis – By Geography

The European region held the largest share in the tooling board market in 2021 up to 35%, owing to the presence of large aeronautical enterprises in France, Germany Italy, and Spain. According to the European Commission, the European industry is a world leader in the production of civil aircraft, including helicopters, aircraft engines, parts, and components. The civil branch of the industry constitutes the backbone of the European aerospace and defense ecosystem. It represents 50% of its annual turnover, generating high-skilled jobs and innovation. According to AeroSpace and Defence Industries Association of Europe (ASD Europe), despite a challenging environment in 2020, the European aerospace and defense industry generated a total turnover of €229.7 billion and managed to maintain its role as a global market leader in 2020. There are a large number of wind farms in the region. The European Union (EU) is a global leader in using wind power. According to the European Commission, the EU currently has the largest floating wind energy capacity in the world, about 70% of the total. By 2030 the total installed wind energy capacity could reach 350GW, supplying up to 24% of electricity demand. Manufacturers offer epoxy tooling boards for wind turbines to streamline the fabrication of models and tools. With the growing number of large wind turbines, epoxy resins are quickly replacing polyester and are emerging as the matrices of wind blade composites.  Polyurethane tooling boards are used to develop prototypes for Formula One (F1) cars, aerospace applications, and lightweight vehicles. The European Grand Prix is an annual series of tournaments within the European Federation. Europe has some of the world’s best F1 tracks. Even though the 2020 F1 season had four fewer races than 2019, Formula 1 maintained a strong audience position, according to Formula One statistics. There were strong results in several key markets with +28% YoY in the Netherlands, +10% YoY in the UK, + 71% YoY in Russia, and +5% YoY in Germany. With rapid innovation in motorsports, there is a need for prototyping which drives the market for the tooling board industry. Therefore, Europe is set to be the region holding the largest share in the tooling board market during the forecast period. 

Tooling Board Market Drivers

Increasing Demand for Prototypes of Vehicles

A prototype is a vehicle made to show off new developments. Prototypes are not designed for large-scale production. Instead, they are meant to gauge the practicality and popularity of implementing new designs and technologies. Automotive prototypes are integral parts of the entire automotive engineering process that allow engineers to decipher how to make new automotive products that appeal to customers and to ensure that a vehicle will be safe for end-users. The advent of e-mobility has enabled many companies to make their way into the automotive industry. Electric Vehicle (EV) companies have to showcase their designs and prototypes before a final decision is made. There is a big push from governments for the adoption of EVs as they are a greener alternative. For instance, the US President Biden’s executive order required the government’s fleet of nearly 645,000 federal vehicles to switch to electric. According to the?Edison Electric Institute, EV sales are expected to surpass 3.5 million per year by 2030, and more than $2.6 billion is being invested in ensuring the infrastructure exists to enable mass adoption for EVs by consumers. Moreover, the institute predicts an almost tripling in the number of fully electric models available by 2023. Therefore, there is an increased demand for prototypes from the EV industry which drives the market for the tooling board industry. 

Increasing Applications of Precision Board

The precision board is a rigid, closed-cell, high-density polyurethane material. Precision tooling board is specifically engineered to meet the demands of a broad range of tooling and tool-making applications. Both Precision Board Low Temperature (PBLT) tooling board (<200?F) and Precision Board High Temperature (PBHT) tooling board (<300?F), possess excellent machining characteristics and dimensional stability for tool making. Precision tooling board is ideal for soft tooling and rapid prototyping because it can be more rapidly machined and it is more economical than alloy or epoxy-based alternatives. Geometric growth in the use of composites in aerospace, automotive, wind, energy, and other industries has opened up new markets for this versatile tool-making substrate. The precision board is designed for prototype machining, water jet cutting, pattern making, thermoforming, prepreg composite layup tooling, vacuum form tooling, tool path proofing, lost wax casting masters, master model making, artistic carving blocks, indoor and outdoor signage.  Precision Board Plus PBLT-20 from Coastal Enterprises is formulated with eco-friendly green urethane components. The new material has a certified carbon footprint of 3 to 1 and a certified rapidly renewable green resource content of 23.9%. This means each 3”x 4’x8’ sheet of PBLT-20 saves 38.5 pounds of plastic material which assists meeting in LEED requirements for green buildings. Thus, the increasing applications of precision boards drive the tooling board market.

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Tooling Board Market Challenges

High Production Cost

Tooling boards are made from filled polymer materials. When bonded together, these boards form larger blanks and blocks that are used to create models of CNC-machined tooling. The tooling board market is capital-intensive and requires significant investments in the initial stages. Tooling board materials are useful for creating durable, reusable tools, prototypes, models, and patterns for use in the motorsport, automotive, aerospace, and marine industries. The raw materials required for the production of tooling boards made of polyurethane and epoxy are expensive. Epoxy resins are used for the production of epoxy tooling boards. In the US in September 2020, epoxy resin prices were around US$3011 per ton and in June 2021, the prices of epoxy resins were US$4610 per ton owing to a shortage of feedstock chemicals. Such factors can prove to be a challenge for the market.

Tooling Board Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Tooling Board Market. Tooling Board Market top 10 companies include:

RAMPF Group

Trelleborg AB

Sika Group

Huntsman Corporation

PolyTek Development Corp.

CFP Composites

BCC Products Inc.

Base Group

Curbell Plastics

General Plastics 

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Recent Developments

In May 2021, Trelleborg launched its new TC350 castable epoxy tooling solution. TC350 is a specialized high-temperature, low-density syntactic epoxy tooling board, supporting the creation of parts for use in a range of industries, such as aerospace, automotive and marine. The tooling board is compatible with carbon fiber, polypropylene, and glass fiber-reinforced plastics used in the manufacturing of electric vehicles

In November 2020, RAMPF Tooling Solutions, the world’s largest producer of high-performance board materials, entered a sales partnership with MODELCO, a Swedish supplier of a premium model- and mold-making materials to the car, truck, and maritime industries in the Nordic markets. 

Relevant Reports

Polyurethanes Market- Forecast (2021-2026)

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#Tooling Board Market #Tooling Board Market size #Tooling Board industry #Tooling Board Market share

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Nickel Based Metal Porous Materials Market Forecast (2022-2027)

Nickel based metal porous materials market size is forecast to reach US$523.7 million by 2027, after growing at a CAGR of 4.0% from 2022 to 2027. Globally, the rising demand for nickel based metal porous materials owing to its electrical and thermal conductivity, large specific surface area, high specific strength, good sound absorption and noise reduction capabilities, and great permeability in several end-use sectors is estimated to drive the market growth. Metal porous materials such as sintered porous metal, metal fiber felt, nickel foam, and others have become widely utilized functional materials. With increased demand for nickel based metal porous materials in the metallurgy, novel catalyst, electronic device, biomedicine, and other areas in recent years, higher requirements for their porosity and pore structure properties have been proposed. Thus, which is also further estimated to drive the market growth over the forecast period

COVID – 19 Impact:

During the COVID-19 pandemic, many industries had suffered a tumultuous time and it was no different for the global nickel based metal porous materials market. Many governments across the globe implemented lockdown regulations and factories & production facilities in many sectors came to a halt. The supply chain was greatly disrupted as many businesses followed lockdown protocols. During the pandemic, there was an unprecedented decline in the chemical industry as well as in the automotive industry. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the production of passenger vehicles declined from 16.9% in 2019 to 2020. Thus, this hampered the demand for nickel based metal porous materials as sintered porous metal filter, nickel fiber felt, and others, are widely used in these industries. However, as the pandemic has largely subsided and companies have restarted production in various sectors, the demand for nickel based metal porous materials is also estimated to rise over the forecast period.

Report Coverage

The report " Nickel Based Metal Porous Materials Market Report – Forecast (2022-2027)" by IndustryARC covers an in-depth analysis of the following segments of the nickel based metal porous materials industry.

By Type: Sintered Porous Metal, Metal Fiber Felt, Nickel Foam, and Others

By Application: Chemical and Petrochemical, Refineries, Electronics, Automotive, Medical, Food and Beverage, Nuclear, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia and New Zealand, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

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Key Takeaways

The Asia-Pacific region dominates the nickel based metal porous materials market due to the rising growth and investments in the chemical and petrochemical, refineries, electronics, automotive, medical, and other end-use industries.

Since, porous metals outperform plastic foams in terms of strength, heat resistance, and fire resistance, as well as porous ceramics in terms of thermal shock resistance, thermal and electrical conductivity, processability, and ease of installation. Thus, it has raised the demand for nickel based metal porous materials.

In the foreseeable future, with the rising demand for nickel batteries the growth for nickel based metal porous materials is estimated to rise.

Furthermore, fluctuating price of raw materials and rising health effects associated with nickel metals would create challenges for the growth of the nickel based metal porous materials industry.

Nickel Based Metal Porous Materials Market Segment Analysis – By Type

Sintered porous metal held the largest share in the nickel based metal porous materials market and is expected to continue its dominance over the period 2022-2027. Sintered porous nickel owing to its low pressure loss, good air permeability, uniform pore size, small initial resistance, high porosity, easy back blowing, easy cleaning, strong regeneration ability and long service life, is widely preferred in the nickel based metal porous materials industry. Generally, after blending and reduction, nickel porous materials generated by sintering nickel oxalate and NaCl have a pore structure constituted of lapped pores between the fibrous nickel particles and the prefabricated pores formed by the pore-forming agent. Currently, sintered nickel is a type of porous metal fiber made by pressing nickel or pre-alloyed nickel powder into tubes or sheets and then sintering at high temperatures. In the upcoming years, the growing demand for sintered porous metal due to its alluring properties has further inclined the growth of the nickel based metal porous materials market.

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Nickel Based Metal Porous Materials Market Segment Analysis – By Application

The food and beverage sector dominated the nickel based metal porous materials market with 27.2% in 2021 and is projected to grow at a CAGR of 4.5% during 2022-2027. Increasing usage of sintered porous metal filter in the food and beverage purification and filtering has driven the growth of the industry. Rising growth of the food and beverage sector is estimated to drive the growth of the nickel based metal porous materials industry. For instance, Biotics Research Corporation, a nutritional supplement manufacturer, plans to invest US$9 million in the construction of an 88,000-square-foot warehouse, laboratory, and office facility in Rosenberg, Texas. The project is expected to be completed in 2023. Also, General Assembly Holdings, a maker of specialty food items, is proposing a refurbishment and equipment upgrades at a recently leased 42,000-square-foot processing facility in Vaughan, Ontario. The project is expected to be completed in 2022. With such developments the demand for sintered porous metal filter is estimated to increase and further drive the nickel based metal porous materials market growth.

Nickel Based Metal Porous Materials Market Segment Analysis – By Geography

Asia-Pacific region dominated the nickel based metal porous materials market with a share of 43.5% in 2021. The market in the region is witnessing expansions with increasing government investments for the growth of the chemical and petrochemical, refineries, electronics, automotive, medical, and other end-use sectors in the emerging economies such as China, India, and Japan. According to the India Investment Grid (IIG), the chemical sector in India stood US$ 178 billion in 2018-19, and with a projected annual growth rate of 9.3% it is anticipated to be worth US$ 304 billion by 2024-25. Additionally, state refiners in India plan to invest 2 trillion rupees ($26.96 billion) by 2025 to increase oil refining capacity by 20% in Asia's third-largest economy. Thus, with the growth of the end-use sectors the demand for nickel based metal porous materials is estimated to rise in the APAC region over the forecast period.

Nickel Based Metal Porous Materials Market Drivers

Increasing Demand for Nickel Based Metal Porous Materials in Batteries.

The rapidly rising production and consumption of batteries has raised the demand for nickel based metal porous materials in recent years. Among metal porous materials, nickel metal porous materials have the benefit of being resistant to salt and alkali corrosion. Thus, these materials are commonly utilized in the manufacture of functional materials such as filter materials, capillary wicks, and battery electrodes. Also, owing to the nickel fiber felt electrode advantages such as high porosity, large specific surface area, low internal resistance, extended service life, quick charging, high specific power, and others, has driven its demand in the battery production. Currently, with the rise in nickel battery production the demand for nickel based metal porous materials has increased. For instance, in January 2022, Tesla entered into a new agreement to get nickel for battery cell manufacture from a new mine in the United States. It's a historic agreement that will assist support prospective new mining projects by sourcing crucial battery material in the United States. Similarly, South Korea's main three electric car battery manufacturers, LG Energy Solution Ltd., SK On, and Samsung SDI Co., are preparing for full-scale production of next-generation batteries with high nickel content, as per the news report published in October 2021. At the end of 2021, global automakers such as BMW AG and General Motors Co. also planned to release new EVs outfitted with high-nickel batteries manufactured by Samsung SDI and LG Energy, respectively. Thus, with such initiatives the demand for nickel based metal porous materials in the production of batteries is further estimated to rise over the projected period.

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Nickel Based Metal Porous Materials Market Challenges

Health effects Associated with Nickel Metal

One of the major challenges faced by the nickel based metal porous materials industry are the harmful health effects associated with the nickel metal. While nickel can be found naturally in water and soil, it is most commonly found in areas of human contamination. It is excreted in tiny amounts through the urine or the intestinal tract; but, in greater dosages, it is poisonous and can cause major health problems such as dermatitis due to contact, lung cancer, neurological issues, failure of the kidneys and liver, coronary artery disease, and many others. Thus, due to such effects the nickel based metal porous materials market is anticipated to face challenges in the upcoming years.

Nickel Based Metal Porous Materials Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the nickel based metal porous materials market. Global nickel based metal porous materials top 10 companies include:

Martin Kurz & Company

GKN

MTIKorea

Exxentis

HENGKO Technology

Nanoshel

Vale

Sumitomo Electric

Corun

HGP, and others

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Hydrate Inhibitors Market - Forecast (2022 - 2027)

Hydrate Inhibitors Market size is estimated to reach US$320.9 million by 2027, after growing at a CAGR of 6.5% from 2022-2027. Hydrate inhibitors are chemical substances which are used to control hydrate formation during natural gas production process at oil & gas refineries. The hydrate inhibitors consist of two main types namely thermodynamics inhibitors which includes methanol, ethylene glycol and monoethylene glycol, while other is low dosage inhibitors. Hence, hydrate inhibitors are considered for application like gas gathering system and pipeline system. Factors like, increase in global trade of liquified natural gas, high demand of natural gas in power sector, and increase in steel production output and high consumption of liquified petroleum gas in households are driving the growth of hydrate inhibitors market. However, certain hydrate inhibitors like methanol are hazardous in nature and can cause problems to blurred vision, neurological damage and permanent motor dysfunction in humans. Hence, such negative impact of methanol can restrict its usage as hydrate inhibitors, which can hamper the growth of hydrate inhibitors industry.

COVID-19 Impact

The necessary measures such as lockdown implemented by the countries across the world, negatively impacted the productivity of oil & gas refineries. The lack of availability of labors led to decrease in the production output of natural gas, while the demand for natural gas in commercial and industrial sectors also declined. For instance, as per, US Energy Information Administration, in 2020, natural gas consumption decreased by 11% in commercial sectors of US, while industrial sector demand decreased by 3% amid a weakening economy in 2020. The industrial and commercial sectors consumed less natural gas largely because of COVID-19 related closures and reduced usage of facilities. Moreover, according to Eurostat, in 2020, gross inland consumption of natural gas in the Europe decreased by 2.7 % compared with 2019, while natural gas production decreased by 22.1%. Hydrate inhibitors such as methanol & ethylene glycol are mainly used during natural gas production to avoid hydrate formation. Hence, such decrease in consumption and production of natural gas negatively impacted the usage of hydrate inhibitors in oil & gas refineries. This declined the growth of hydrate inhibitors industry.

Report Coverage

The report: “Hydrate Inhibitors Market Report – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Hydrate Inhibitors Industry.

By Product Type – Thermodynamic Inhibitors (Methanol, Ethylene Glycol, and Monoethylene Glycol), Low-Dosage Inhibitor (Anti-Agglomerate Inhibitors, and Kinetic Hydrate Inhibitors) By Raw Material – Alcohol, Glycol, Ionic Salt, and Others. By Operations – Onshore, and Offshore. By Application – Gas Gathering System, Pipeline System, Corrosion Protector, and Others. By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

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Key Takeaways

North America dominates the hydrate inhibitors industry as the region consists of major economies like US and Canada which are one of the largest producers of natural gas.

Low dose hydrate inhibitor, substantially reduce chemical consumption, are environmentally friendly and they are suitable for challenging production conditions such as deep-water pipelines and subsea tie backs.

Growing demand of natural gas for applications like to heat buildings, to operate refrigeration & cooling equipment, to cook and to provide outdoor lighting, will increase production output of natural gas, resulting in more usage of hydrate inhibitors.

Hydrate Inhibitors Market Segment Analysis – By Product Type

Thermodynamics inhibitors held a significant share hydrate inhibitors market in 2021, with a share of over 36.5%. Thermodynamic inhibitors like methanol and ethylene glycol are commonly used hydrate inhibitors as they are non-corrosive, non-reactive with any constituent of gas and can lower the freezing point of water-based liquid and increase its boiling point. The increase in production output of natural gas on account of economy development and growing demand from end users, has positively impacted the usage of hydrate inhibitors. For instance, according to US Energy Information Administration, in December 2021, dry natural gas production was 3,012 billion cubic feet or 97.2 billion cubic feet per day, which was 5.4% higher than December 2020. Also, according to World Energy & Climate Statistics, in 2020, gas production increased in the Middle East by 1.2%, in Australia by 7.9% and China by 9.8%. Such increase in the production level of natural gas will lead to more usage of thermodynamic inhibitors like methanol and ethylene glycol to control hydration during production process. This will positively impact the growth of hydrate inhibitors industry.

Hydrate Inhibitors Market Segment Analysis – By Raw Material Type

Glycol held a significant share in hydrate inhibitors market in 2021, with a share of over 27%. The glycol present in the gas stream prevents hydrate forming conditions by absorbing the free water in the system. Hence, glycols like ethylene glycol are most commonly used hydrate inhibitors due to their rich chemical properties. The growing consumption of natural gas has led to increase in its production output. For instance, according to International Energy Administration, in 2021, gas consumption in Europe increased by 5.5%, where gas demand in South America increased by 7.5%. Such increase, in consumption and demand of natural gas will increase its production level, resulting in more usage of glycols inhibitors during natural gas processing. This will boost the growth of hydrate inhibitors industry.

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Hydrate Inhibitors Market Segment Analysis – By Geography

North America held the largest share in hydrate inhibitors market in 2021, with a share of approximately 45%. The region has major economies like United States and Canada which are one of the major producers of natural gases like methane which is considered as important source of energy in these countries. The increasing in demand for clean source of fuel has led to increase in production consumption of natural gas. For instance, according to US Energy Information Administration, in October 2021, the dry natural gas production increased by 2%. Also, according to International Energy Agency, in first eight months of 2021, industrial gas consumption in US increased by 1.8% whereas other sectors like gas network & energy sector showed increase of 1.4%. Further, natural gas consumption in Canada increased by 4% in first ten months of 2021, and pipeline exports to the US increased by an estimated 17%. Natural gas is used as a clean energy source for multiple domestic and industrial purposes. The increase in production and consumption of natural gas will lead to more usage of hydrate inhibitors like methanol and ethylene glycol during natural gas production process. This will positively impact the growth of hydrate inhibitors industry.

Hydrate Inhibitors Market Driver

Increase in trade of Liquified Natural Gas

Liquid natural gas(LNG) is a natural gas in liquid form which is made by purifying natural gas and super-cooling it to -260°F. Such gas is used in variety of ways like its residential uses include cooking, heating homes, while commercial uses include generating electricity, fueling commercial vehicle and manufacturing products like fertilizers, paints. LNG on account of being cheaper and clean fuel source has led to increase it demand globally, which has led to increase in its global trade. For instance, according to International Energy agency, global LNG trade expanded by 6% in 2021, a sharp acceleration from the 2020, with Asia Pacific region registering an 8% y-o-y increase. Moreover, LNG imports into Central and South America soared by 69%, supported by Brazil’s severe drought curtailing hydropower generation. The increase in global trade of LNG will increase demand of natural gas for its production, thereby having a positive impact on the usage of hydrate inhibitors like methanol, monoethylene glycol, and ethylene glycol in natural gas processing. This will boost growth of hydrate inhibitors industry.

Increase in Steel Production Output

Natural gas has a major use in steel making process as it is used in furnace to produce heat for melting pig iron into steel. Hence, various processes like ore processing, sinter & blast furnace processes and roll steel production cannot be performed without natural gas. The increase in production output of steel on account of high demand from end user industries like construction and automotive has positively impacted the demand for natural gas in metallurgy sector. For instance, according to National Bureau of Statistics, China’s steel output increased by 5.2% to a record 1.053 billion tons on account of high demand from the construction and manufacturing sectors. Also, as per the data of the government of India, crude steel production stood at 77.74 million tons for January-August 2021, showing a 25.6% increase for the same period in 2020. Such increase in production output of steel will increase demand of naturel gas for fuel, resulting an increase in natural gas production output to meet metallurgy demand. This will positively impact the usage of hydrate inhibitors like methanol & monoethylene glycol during natural gas processing, which will boost the growth of hydrate inhibitor industry.

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Hydrate Inhibitors Market Challenges

Negative impact of Inhibitors

Exposure to certain hydrate inhibitors like methanol can result in blurred vision, headache, dizziness, and nausea. Moreover, methanol may affect animals, birds and fish, leading to their death and its Exposure can also cause low growth rate in plants. Hence, such negative impact of environment and human health can restrict the usage of such hydrate inhibitors in oil & gas refineries for natural gas production. This can have negative impact on the growth of hydrate inhibitors industry.

Hydrate Inhibitors Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In the hydrate inhibitors market industry, the hydrate inhibitors top 10 companies are:

Ecolab Inc.

Evonik Industries AG

Baker Hughes

Huntsman International LLC

Finoric LLC

Ashland Global Specialty Chemicals Inc.

Clariant AG

Schlumberger Limited

Gazprom Neftekhim Salavat

Innospec Inc.

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Recent Developments

In 2022, WBI Energy Inc. inaugurated North Bakken pipeline expansion project that has capacity to transport 250 million cubic feet of natural gas per day from Bakken production area in North Dakota, with the potential to be increased up to 625 million cubic feet per day.

In 2021, Kinder Morgan Inc. acquired Kinetrex Energy for US$310 million. The acquisition includes two small-scale, domestic LNG production and fueling facilities, a 50% interest in a landfill-based renewable natural gas (RNG) facility in Indiana.

In 2020, Chevron acquired Nobel Energy an independent oil & natural gas production company which has large natural gas business built in Eastern Mediterranean, and such acquisition will increase Chevron natural gas production capacity.

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#Hydrate Inhibitors Market size

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Europe Dispersible Polymer Powders Market - Forecast (2022 - 2027)

The Europe dispersible polymer powders market is forecast to reach US$820.3 million by 2027 after growing at a CAGR of 5.8% during 2022-2027. The high demand for dispersible polymer powder in the European construction sector is projected to drive market growth. With the rapid expansion in the residential construction activities and the high investment for building repairing and maintenance, the European dispersible polymer powders market is anticipated to rise. The increasing demand for dispersible polymer powders like vinyl acetate ethylene, vinyl chloride ethylene, acrylic polymer, polyvinylpyrrolidone polymer has raised the growth of the dispersible polymer powders market. Furthermore, due to the increasing demand for tiles adhesive under the application segment, the dispersible polymer powders market in Europe is further projected to expand during the forecast period. However, the rise in the price of dispersible polymer powders might create a dent in the growth of the target market.

COVID-19 Impact 

Numerous factors like expansion in residential construction activities, increasing demand for tile adhesives are contributing to the growth of the dispersible polymer powders market in Europe, but on the other hand, the rising price of the dispersible polymer powders has affected the market. This price rise occurred due to the disruption created by COVID-19. From disturbance in the supply chain, shortage of raw materials, factory shutdown, etc. are adding to the pain of manufacturers and suppliers of dispersible polymer powders in the European region. For instance, in March 2021, Wacker Chemie AG, a German-based chemical company increased the prices of dispersible polymer powders in Europe and other regions due to the rise in the price of raw materials, courtesy of COVID-19. Furthermore, according to Wacker Chemie AG 2020 Annual report, in Western Europe, the construction volume decreased by 5.5% which was significantly below the prior-year level during the pandemic.

Report Coverage 

The report: “Europe Dispersible Polymer Powders (2022 -2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Performance Fabric Industry.

By Type: Vinyl Acetate Ethylene (VAE), Vinyl Acetate/ Vinyl Ester of Versatic Acid, Vinyl Chloride Ethylene, Acrylic Polymer, Polyvinylpyrrolidone Polymer, Polyvinyl Acetate Polymer (PVAC), Others.  By Application Type: Mortar Additive, Tile Adhesives, Tile Grouts, Gypsum Filler, Renders, Insulation, Exterior Wall Coating, Plaster, Others.  By End Use Industry: Residential Construction (Private Dwellings, Apartments, Row Houses) Commercial Construction (Office, Healthcare, Long Term Care Facilities, Hospitals, Clinics and Diagnostic Centers, Others), Hotels and Restaurants, Concert Halls and Museums, Sports Arena, Educational Institutes, Schools, Universities and Colleges, Research Center, Others), Industrial Construction, Others.  By Country: UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe. 

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Key Takeaways: 

Vinyl acetate ethylene is projected to lead the dispersible polymer powders type segment owing to its excellent property such as moisture resistance, affordability, and durability. These properties make vinyl acetate ethylene a desirable choice for indoor applications such as bathrooms, kitchens, laundry rooms, etc.

The residential construction segment is anticipated to drive the growth of the dispersible polymer powders market in Europe. According to European Construction Industry Federation 2021 statistical report, the housebuilding segment is projected to have a robust investment growth rate of 5.5% in 2021.

Tiles adhesive application segment is poised to expand the growth of the dispersible polymer powders market in Europe owing to its strong bonding strength which makes it suitable for building construction and infrastructure renovation work. According to the August 2021 report by Eurostat, the statistical office of the European Union, the building construction sector in the Euro Area and European Union increased by 3.1% and 3.8% respectively in June 2021.

Europe Dispersible Polymer Powders Market - By Type

Vinyl acetate ethylene polymer held the largest share in the dispersible polymer powders market in 2021 in Europe owing to its robust water-resistant, excellent adhesion, high elasticity, low cost, and durability properties. Vinyl acetate ethylene is projected to contribute massively to the market’s growth with a CAGR of 5.6% in the forecast period This type of polymer is widely used to produce advanced level dispersible polymer powders which are used in the construction sector, especially for the production of construction materials such as dry-mix mortars or waterproofing membranes for thermal insulation composite systems. In a recent March 2020 development, Wacker Chemie AG launched the first-ever dispersible polymer powder, based on renewable raw materials. This new dispersible polymer powder named Vinneco 5044 N is manufactured using biobased acetic acid and vinyl acetate ethylene polymer. This advanced dispersible polymer powder is utilized in construction applications like tile adhesives, dry-mix mortars, or waterproofing membranes to provide them with a high degree of adhesion and flexibility. Polymers like vinyl chloride ethylene and polyvinylpyrrolidone polymer are expected to witness significant usage in dispersible polymer powders, contributing to the growth of the target market during the forecast period. 

Europe Dispersible Polymer Powders Market - By Application

Tile adhesive led the European dispersible polymer powders market in 2021, owing to the growing demand for tiles in the construction sector and other renovation projects. This application segment is expected to be an excellent growth area for the European dispersible polymer powders market with a CAGR of 6% during the forecast period. Tiles offer aesthetically appealing surfaces and important benefits like abrasion-resistant, waterproofing, long service life, cleanliness, and hygiene. Due to such a wide variety of benefits, tiles are extensively used as wall and floor covering material in the building construction sector. Tile adhesives are mostly manufactured from vinyl acetate-ethylene polymer powder and used to hold polishing bricks and ceramic tiles in building and renovating engineering. Europe has always been a huge consumption of ceramic tiles due to the consumer's demand for less expensive and stylish ceramic tiles, especially in cities like Spain and Italy. Spanish ceramic tile manufacturer associations keep encouraging and supporting tile manufacturers in Spain to come up with innovative and high-quality ceramic tiles to maintain the Spanish tiles standard and satisfy consumer’s demand. Accordingly, in a recent 2021 development in the tiles sector, Spanish tile manufacturers Keros CerámicaandFerro Spain developed Hidracer, an advanced range of tiles made up of ceramic and got recognition from the Spanish Society of Ceramics and Glass (SECV). In another development, Realonda SA, a Spanish manufacturer of ceramics tiles developed functional tiles made of ceramic in 2021 with the ability to self-regulate the moisture content. A similar scenario is in Italy where the demand for ceramic tiles is witnessing an upward trend. According to Confindustria Ceramica, the Italian ceramics association, the ceramic tiles market in Q1 2021 saw a positive growth rate with an increased turnover of 9% as compared to 2020, owing to the growth of ceramic tiles in both exports (+7.2%) and the Italian market (+18.9%). This increase in demand for ceramic tiles in Spain, Italy, and other parts will raise the demand for tile adhesives, thereby driving the growth of the dispersible polymer powders market in Europe. 

Europe Dispersible Polymer Powders Market – By End Use Industry

The residential construction sector is anticipated to drive the growth of the dispersible polymer powders market owing to the development of housing projects and housebuilding activities in Europe. In 2020, multiple residential projects have been announced in Europe. One of such projects is the Build-to-Rent (BTR) scheme of 60 houses in the UK which has got the approval for planning from the government in October 2020. This residential property will be planned and developed by Godwin Developments; a UK-based multi-sector property developer. In another development, in June 2020, Godwin Developments acquired a one-acre site, present within Sheffield city centre, which will be transformed into 330 plus residential BTR homes. Such huge residential construction activities will spur the growth of the dispersible polymer powders market during the forecast period. Similarly, Finland-based construction company YIT is constructing many housing projects. One of those projects is the Kahvikortteli, a residential project which contains four residential blocks. Currently, it is under development and will be completed in 2022. Dispersible polymer powders like vinyl acetate ethylene, vinyl chloride ethylene, polyvinylpyrrolidone polymer, and others are widely used in numerous building construction applications such as external coats, plasters, mortars, and insulating systems. Going forward, all such planning and development in the residential construction sector will boost the dispersible polymer powders market in Europe.

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Europe Dispersible Polymer Powders Market – By Country

The UK held 30% of the market share in 2021. The country is anticipated to spur maximum growth of the dispersible polymer powders market in Europe during the forecast period owing to massive residential construction projects. According Watkin Jones, one of the UK’s leading housing developers, has received a resolution to grant permission for the largest BTR scheme to date in Birmingham, which will be completed by 2025. In another development, real estate developer Artisan Real Estate is developing a new residential project, named Kirkstall, which will have 263 residential homes and will be completed soon. These residential construction schemes in the UK will contribute immensely to the growth of the dispersible polymer powders market. 

France is expected to contribute significantly to the growth of the dispersible polymer powders market, owing to tremendous residential housing development. The country is projected to have an investment growth rate of 12.2% in the housebuilding sector in 2021, according to the European Construction Industry Federation 2021 statistical report. Moreover, International real estate firm Hines has acquired a 30,000 square meter area to develop multiple BTR residential schemes, which in turn, will support the expansion of the dispersible polymer powders market. 

Denmark is also poised to contribute to the growth of the dispersible polymer powders market in Europe, with an investment growth rate of 5.0% in the housebuilding sector in 2021, according to the European Construction Industry Federation 2021 statistical report. Moreover, residential housebuilding projects like Skanska’s 154 apartment-based new residential project in Copenhagen, Denmark, which will be completed in 2023, will add to the growth of the dispersible polymer powders market in Europe. Other countries like Italy, Russia, Finland, and Spain will have a decent contribution to the growth of the dispersible polymer powders market in Europe. 

Europe Dispersible Polymer Powders Market Drivers

Increasing investment growth rate in the construction sector will spur the growth of dispersible polymer powders market

The rapid expansion in the European construction sector is anticipated to contribute vastly to the growth of the dispersible polymer powders market. The majority of the construction activity in the residential housebuilding segment is projected to drive maximum growth. As per the European Construction Industry Federation 2021 statistical report, the housebuilding segment is poised to witness an investment growth rate of 5.5% in 2021. The new housebuilding and renovation projects are projected to have an investment growth rate of 4.8% and 5.7% respectively. The civil engineering construction sector is expected to witness a significant investment growth rate of 2.9% in countries like Italy, Belgium, and Portugal in 2021. The non-residential construction sector is also expected to witness a decent investment growth rate of 2.6%. As the dispersible polymer powders like vinyl chloride ethylene, acrylic polymer, vinyl acetate ethylene, polyvinylpyrrolidone polymer, and others, are used widely in the construction sector as plasters, external coats, mortars, and insulating systems, these high investment growth rates will increase the demand for dispersible polymer powders in the construction sector, which, in turn, will boost the growth of the dispersible polymer powders market in Europe.

Increasing demand for dispersible polymer powders in green buildings will expand the growth of dispersible polymer powders market

Increasing sustainability awareness related to the construction sector has generated a huge demand for energy-efficient buildings. Green building technology implements eco-friendly materials in buildings to make them energy-efficient and cost-efficient. Dispersible polymer powders are extensively utilized in multiple green building applications like plasters, mortars, architectural paint, insulating systems to enhance durability, impact resistance, flexibility, and tensile strength. Owing to such a variety of applications, the demand for environmentally friendly dispersible polymer powders with no VOC emissions has increased, especially for the usage in green building construction. Moreover, manufacturers will start focusing on the creation of sustainable and eco-friendly products in the coming years. In a similar development, Wacker Polymers, in their latest 2050 sustainability plan, incorporated policies to create products that will be 90% sustainable and become carbon neutral. Such eco-friendly product developments will spur the growth of dispersible polymer powders usage in green buildings in the coming years, and in turn, will contribute to the growth of the market.

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Europe Dispersible Polymer Powders Market Challenges

Strict environmental regulations regarding VOC emission from dispersible polymer powders might affect the market’s growth

Changing environmental regulations imposed by various governing bodies such as the Environmental Protection Agency (EPA) in Europe and the European Union (EA) force the manufacturers and key players to focus their research more on the development of no VOC dispersible polymer powders. Dispersible polymer powders used in adhesives for flooring, mortars, and external wall coat in different buildings and infrastructure structures, release gaseous VOC elements which are harmful to the environment. Products made of dispersible polymer powders which are used in buildings need to be manufactured by conforming to strict eco-labeling requirements. To keep this in check and reduce the industrial and construction emissions of volatile organic compounds (VOCs), government bodies in Europe are constantly upgrading the eco-friendly regulations which might hinder the growth of the dispersible polymer powders market in Europe.

Europe Dispersible Polymer Powder Industry Outlook 

Investment in R&D activities, product launches, and acquisitions are key strategies adopted by players in the Europe dispersible polymer powders market. Major players in the dispersible polymer powders market include 

1. Wacker Chemie AG, 2. BASF SE, DOW, 3. Synthomer Plc, 4. Benson Polymers, 5. Dairen Chemical Corporation, 6. Acquos 7. Others 

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Acquisitions/Product Launches

Wacker Chemie AG expanded its dispersible polymer powders product line with the launch of the first-ever renewable dispersible polymer powder product named Vinneco 5044 N in March 2021. 

Related Reports 

Polymer Foam Market Report Code: CMR 0093

Dispersible Polymer Powders Market - Forecast(2021 - 2026)  Report Code: CMR 1267 

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#europe dispersible polymer powders market #europe dispersible polymer powders market size #europe dispersible polymer powders market forecas

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Nanocomposites Market - Forecast (2022 - 2027)

Nanocomposites market size is forecast to reach US$11.3 billion by 2027, after growing at a CAGR of 15.2% during 2022-2027. The Nanocomposites are materials created through the mixing of several components at the nanoscale, which gives them unusual properties and unique design possibilities. Graphene is also one of the stiffest and most durable materials on the planet. Furthermore, it has a high thermal conductivity. As a result, graphene-polymer nanocomposites have shown considerable promise as functional or structural materials of the future. The nanotechnology process is generally used for developing Nanocomposites products. The aim of nanotechnology is to integrate chemistry, physics, material science, and biology in order to create new materials with properties that can be exploited to develop facile methods of making electronics, biomedical devices, and high-performance materials. The rapid adoption of nanocomposites in the packaging industry is driving the market growth. They act as an active and intelligent food packaging material and offer various properties such as mechanical, thermal, and biodegradable among others. In the current market, there is considerable interest in developing packaging materials with reduced processing and longer shelf lives. The growing demand from various end-use industries such as automotive, aerospace, energy, and construction are driving the market growth for nanocomposites. According to the U.S. Census Bureau, Construction spending during July 2021 was estimated at a seasonally adjusted annual rate of US$1,568.8 billion, which is above the revised June estimate of US$1,563.4 billion

COVID-19 Impact

A majority of industries have been affected by the COVID-19 epidemic, which is unmatched in its impact on public health. Around the world, this deadly disease has killed millions of people, and due to this governments have imposed major prohibitions and work stoppage orders to stop the spread of this virus. Medical supplies and life support products are the only industries that have not been significantly affected, but the nanocomposites industry faced huge losses. Nanocomposites' market growth was restricted and stopped because of the government's lockdown and travel bans. It will be interesting to see that how the market will bounce back and regain its position in the market.

Report Coverage

The report: “Nanocomposites Market– Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Nanocomposites s Market.

By Product Type: Carbon Nanotube, Nanoclay, Metal/Metal Oxide, Ceramic, Nanofiber, Graphene, Expanded Graphite, Fullerene Fillers, Recycled Paper, Recycled Fiber, Others By Application Packaging, Automotive, Electronics Electrical, Aviation, Energy, Construction, Military, Others By Type: Ceramic Matrix, Metal Matrix, Polymer Matrix By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Denmark, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel, and Africa(South Africa, Nigeria, Rest of Africa)] 

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Key Takeaways

The Asia Pacific region is expected to grow at a high CAGR of 16.8% during the forecast period 2022-2027. The growing demand from the medical and automotive industry is supporting the market growth for Nanocomposites s in the region.

Since nanotechnology has developed rapidly in the past few years, the study of Nanocomposites has become increasingly important to developing new materials for advanced applications. Nanocomposites are the best choice to meet the growing demands for multifunctional materials due to their versatility as well as their high degree of integrated association.

The impact of Nanocomposites on the world economy and business is expected to be immense. One crucial aspect is that it is likely to benefit a variety of various sectors in the economy including electronics and electrical industries, chemical industries, transportation sectors, health care organizations, and most importantly, environmental protection.

Nanocomposites Market: By Product Type

The Carbon-Nano tubes segment accounted for approximately 28% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Carbon nanotubes and graphene nanoparticles are promising materials for packaging applications that improve mechanical properties, barrier properties, and biodegradability. Graphene is the most competitive product in the Nanocomposites market because of its exceptional thermal conductivity and surface area. Polymer Nanocomposites containing carbon nanotubes and graphene are now widely evaluated for the development of smart, active, and intelligent packaging to improve food quality and safety, solve food storage dilemmas, and provide information about food quality to consumers. The growing demand for packaged food is supporting the market growth for nanocomposites.

Nanocomposites Market: By Type

The polymer matrix segment is expected to grow at a high CAGR of 16.5% during the forecast period 2022-2027. The easy production, lightweight, and ductility of polymer matrix Nanocomposites s make them popular within the industry. The rise in the food packaging segment is supporting the Polymer Matrix-type segment. PNCs (polymer Nanocomposites s) are packaging materials that can be used to provide a range of functionalities and to replace complex multi-layered polymers. Polymers can be made to perform significantly better by incorporating nanofillers in low concentrations. This can be achieved by incorporating Nano filler molecules. Additionally, antimicrobial and antioxidant properties can be introduced, which are vital for food packaging. 

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Nanocomposites Market: By Application

The packaging industry segment accounted for approximately 30% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. For packaging applications, graphene nanoparticles and carbon nanotubes are attractive materials for improving mechanical properties, barrier performances, and functional properties of biodegradable polymers. The rapid growth in e-commerce services, food & beverage industry is driving the market for packaging industry which is further driving the market for nanocomposites. According to OECD, In the European region total retail sales via mail order or the Internet in April 2020 increased by 30% compared to April 2019, which is further driving the e-commerce and nanocomposites market. The organization is also mentioned that the China online retail sales between January and August 2020 reached 24.6%, up from 19.4% in August 2019, which is also supporting the market growth.

Nanocomposites Market: By Geography

Asia Pacific region held the largest share in the Nanocomposites s market in 2021, up to 36%, owing to the rapid growth in construction, packaging, and automotive industries in the region. As a result of overproduction by Chinese companies, graphene supply currently exceeds. China dominates graphite production. The presence of an advanced nanocomposites manufacturers and high demand for nanocomposites from end-use industries such as automotive and electronics & semiconductor in China and Japan are driving the regional growth. Abundant raw material sources and availability of workforce also support the regional demand. According to the 2021 World Investment Report published by UNCTAD, FDI inflows into China increased by 6% in 2020, to USD 149 billion, up from USD 141 billion in 2019. According to the data published by OICA, India produced more than 3.3 million vehicles in 2020. These are some of the facts supporting the region growth during the forecast period.

Nanocomposites Market Drivers

Growing Demand for Nanocomposites in the Automotive Industry: 

The automotive industry pumped the brakes hard in the early months of the global COVID-19 pandemic. Additionally, auto exports from India are growing rapidly and is expected to continue for some time to come. Several initiatives taken by the Indian government and major automobile makers in 2020 helped India make the world's largest two-wheeler and four-wheeler markets. The total volume of passenger vehicles, three-wheelers, two-wheelers, and quadricycles produced in June 2021 was reached about 1,693,639 units. Ford and General Motors announced that they would invest more than $17 billion in plants and equipment in the U.S. from 2020 through 2024 (in addition to nearly $6 billion already committed).

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Nanocomposites Market Challenges

Harmful to human health: Some nanomaterials have been reported to cause harm to humans. Nevertheless, the evidence has not been established as to whether any type of nanomaterial application, particularly in the food industry, is responsible for this. For safety to be verified, nanomaterials should first be treated as potentially dangerous materials, as recommended by the Institute of Food Science and Technology (IFST). Food and Drug Administration's (FDA's) responsibility includes proving nanoscale products' safety. For nano-based products, the FDA foundation performs a case-by-case review based on approved standards. Although the FDA cannot easily evaluate nanotechnology-based products as there is no labeling requirement that states whether nanotechnology has been used in their production. 

Nanocomposites Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the nanocomposites market. Major players in the nanocomposites market include:

Nanocor Inc.

E.I. Du Pont De Nemours

Zyvex Technologies Inc.

Arkema Inc

Showa Denko K.K.

Powdermet Inc.

RTP Company

Nanophase Technologies Corporation

Unidym Inc.

Nanocyl S.A.

Gnanomat

Other Companies

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Acquisitions/Technology Launches

In October 2020, Gnanomat launched two graphene-based nanocomposites namely “Graphene-Manganese Oxide nanocomposite” and “Graphene-Zinc Oxide nanocomposite”. These products are used in pseudocapacitors, electrodes for energy storage devices, catalyst and others.

Relevant Reports:

Polymer Nanocomposites Market - Forecast(2021 - 2026)

Report Code: CMR 21611

Carbon Filler Based Nanocomposite Market Forecast 2019 To 2024

Report Code: CMR 30675

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#"Nanocomposites Market #Nanocomposites Market size #Nanocomposites industry #Nanocomposites Market share