KYOCERA Corporation (Japan) and Murata Manufacturing Co., Ltd. (Japan) are Leading Players in the LTCC Market and HTCC Market

The LTCC market and HTCC market size is estimated to be USD 916 million in 2019 and is projected to reach USD 1.1 billion by 2024, at a CAGR of 4.5% between 2019 and 2024.  Owing to their superior performance properties such as chemical inactivity, hermicity, and high thermal stability over traditional circuit boards, namely printed circuit boards, co-fired ceramics are gaining increasing demand from various industries such as aerospace & defense, automotive, telecommunications, medical, and industrial.

The major co-fired ceramic manufacturers are KYOCERA Corporation (Japan), DowDuPont Inc. (US), Murata Manufacturing Co., Ltd. (Japan), KOA Corporation (Japan), Hitachi Metals, Ltd.  (Japan), Yokowo Co., Ltd. (Japan), NGK SPARK PLUG CO., LTD. (Japan), MARUWA Co., Ltd. (Japan), Micro Systems Technologies (Switzerland), TDK Corporation (Japan), and NIKKO COMPANY (Japan). These players have adopted various growth strategies, such as new product development, partnership, and acquisition, to expand their presence in the market further. New product development was the most commonly adopted strategy by the major players from 2015 to 2018, which helped them to increase their product offerings and broaden their customer base.

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KYOCERA Corporation (Japan) is a well-established company in the global LTCC market and HTCC market. The company offers a high-quality, co-fired ceramic product. It is continuously engaged in providing high-grade, co-fired ceramic products. As a part of its growth strategy, it is focused highly on new product development and partnership. For instance, in 2018, the company developed an ultra-small ceramic package using Low-Temperature Co-Fired Ceramic for the high-frequency antenna.

Murata Manufacturing Co., Ltd. (Japan) is another major manufacturer of co-fired ceramics. It is one of the global leaders in the design, manufacture, and supply of advanced electronic material, leading-edge electronic components, and multi-functional, high-density modules. As a part of its growth strategy, the company strives to increase its profitability and provide quality products to long-term strategic customers. The company is an expert in creating innovative products and solutions for the electronics industry. It offers low-temperature co-fired ceramic multilayer substrates for the LTCC market and HTCC market. The product uses silver or copper for metallization path. It is also recognized as glass ceramics because of the mixture of glass with primary raw material, alumina. It caters to demand from automotive end-use industry. The product has applications in the anti-lock brake system, electronic stability control, electric power steering, and transmission control units.

Related Reports:

LTCC Market and HTCC Market by Process Type (LTCC, HTCC), Material Type (Glass-Ceramic, Ceramic), End-use Industry (Automotive, Telecommunications, Aerospace & Defense, Medical), Region (Asia Pacific, North America, Europe, MEA, LA) - Global Forecast to 2024

Avery Dennison Corporation (US) and Intertape Polymer Group (Canada) are the Key Players in the Hot Melt Adhesive Tapes Market

The market size of hot melt adhesive tapes is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, during the forecast period. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region. Growing packaging market in emerging economies is a key factor providing growth opportunities to the market.

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Consumer & DIY is the fastest-growing application of the hot melt adhesive tapes market.

Increasing public awareness for DIY is fueling the use of these tapes in different activities, such as gardening, crafting, and small construction & furniture projects. A majority of these tapes are used for different office and household applications. The consumer & DIY applications of hot melt adhesive tapes include temporary repairing of rips on any kind of surface, sealing of leaks and holes, temporary mounting of damaged components of cars and automobiles, jointing of broken components of various tools, sealing, and packaging. Hence, the demand for consumer & DIY applications is high in the hot melt adhesive tapes market.

Recent Developments

• In December 2016, LINTEC Corporation acquired MACtac Americas Holdings, LLC, manufacturer and distributor of adhesive papers and films for printing in the US to get a full-scale entry into the North American market.
• In July 2016, the company made a USD 20 million expansion by adding 24,000 square feet to its current Sparta facility. This facility is expected to add to the production of strapping tapes and acrylic adhesives, which will be used for healthcare applications of the hot melt-based adhesive tapes.

The increasing adoption of hot melt adhesive technology is also leading to the growth of the market.

3M Company (US) and Nitto Denko Corporation (Japan) are the Key Players in the Splicing Tapes Market

The splicing tapes market size is projected to grow from USD 527 million in 2018 to USD 593 million by 2023, at a CAGR of 2.37% during the forecast period. The global paper & printing industry is undergoing a rapid transformation and plays a significant role in driving the splicing tapes market globally. Splicing tapes are used in the production of paper, films, label, and packaging products (such as corrugated boxes, paperboards, or envelopes). However, the environmental regulations related to the paper & pulp sector could act as a major constraint. The developed countries, in regions such as Europe and North America, are anticipated to cut back on the growth level in the near future, owing to the stagnant nature of their markets.

The key players of the market include tesa SE (Germany), 3M Company (US), Nitto Denko Corporation (Japan), Avery Dennison Corporation (US), Intertape Polymer Group, Inc. (Canada), Scapa Group PLC (UK), Shurtape Technologies, PLC (US), Echotape (US), and Adhesive Research, Inc. (US). New product launch has been the most dominating strategy adopted by major players between 2015 and 2018, which helped them broaden their customer base.

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In-line with the rising demand for splicing tapes, tesa has been working to deliver efficient splicing tape products to various applications in the paper & printing industry. This company operates through business segments, namely, Direct Industries and Trade Markets. Direct Industries caters to various end-use industries such as automotive, electronics (mobile phones and laptops), paper & printing, and building & construction. The Trade Markets division is further divided into two segments, namely, General Industrial Markets (adhesive solutions for packaging, tapes required during transporting, assembling, and repairing products) and Consumer & Craftsmen (product solutions required for daily use in homes, offices, and crafts). The company launched a new product called tesa Easy Splice in Feb 2018 which is used in the paper & printing industry to increase output volume and reduce the change over time. Through the strategy of new product launch, the company is able to cater to the demands of a wide range of industries, especially from APAC. This will boost the growth of the company and, also, its splicing tapes business, globally.

The second-most active company in the market is 3M Company. The company operates through five business segments, namely, industrial, safety & graphics, electronics & energy, health care, and consumer. It manufactures splicing tapes for varied applications through its electronics & energy segment. Its splicing tapes products in the paper & printings application have global brand recognition. The company has planned to adopt organic and inorganic strategies such as new product launch, investment & expansion, and merger & acquisition in the future which will surely increase its presence and revenue globally.

Related Reports:

Splicing Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Paper/Tissue, Pet/Polyester, Non-Woven & Others), Application (Paper & Printing, Packaging, Electronics, Labeling), and Region - Forecast to 2023

Packaging: The largest application segment of the top 10 plastics market

The global top 10 plastics market is projected to reach USD 586.24 Billion by 2021, at a CAGR of 6.84%. By volume, the market is projected to reach 332.4 Million tons by 2021, at a CAGR of 4.68%.

Packaging is currently the largest application segment of the top 10 plastics market. Plastics provide a much cleaner, tougher, and aesthetically appealing form of packaging, especially for the food & beverage industry and the electronics industry. This is anticipated to fuel its demand in the packaging application segment. The extensive use of plastics in bags, pouches, and sachets as well as in conventional packaging methods is also expected to drive the growth of the packaging segment.

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Key Target Audience:

• Regional Manufacturers’ Associations and General Top 10 Plastics Associations
• Raw Material Manufacturers
• Traders, Distributors, and Suppliers of Top 10 Plastics
• Government and Regional Agencies and Research Organizations

Polyethylene (PE) was the largest type segment of the top 10 plastics market in 2015, owing to the extensive use of PE in applications, such as packaging, construction, electrical, electronics, automotive, and so on. Its cost-effective nature, ability to be easily remolded according to requirements, and flexibility makes its large scale utilization possible in the packaging bottles, polyethylene tubing, and polyethylene sheets.

The Asia-Pacific region led the global top 10 plastics market, in terms of both value and volume, in 2015. The growing construction sector, increasing R&D activities initiated by major players, easy availability of raw materials, and urbanization are among the key growth drivers for the top 10 plastics market in this region.

The Dow Chemical Company (U.S.), ExxonMobil Chemical Company, Inc. (U.S.), and SABIC (Saudi Arabia) have led the global top 10 plastics market in the last five years. Diverse product portfolios, strategically positioned R&D centers, adoption of various development strategies, and technological advancements are some of the factors that helped strengthen the market position of these companies in the global top 10 plastics market.

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New Product Launches, and Mergers & Acquisitions were the Key Strategies Adopted by Leading Players to Enhance their Presence in the Persulfates Market

The persulfates market is estimated to grow from USD 549.4 Million in 2017 to USD 727.8 Million by 2022, at a CAGR of 5.8% from 2017 to 2022. The use of persulfates across various end-use industries, including polymers, electronics, cosmetics & personal care, and pulp, paper & textiles, is driving the market for persulfates globally. Persulfates are used for various functions such as chain initiator in polymer industry, formulation of skin care and hair care products in cosmetics & personal care industry, etchant in electronics industry, treatment chemical in water treatment, and as a bleaching agent in paper, pulp & textile industry,

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Expansions, new product launches, and mergers & acquisitions were the key strategies adopted by leading players to enhance their presence in the persulfates market between January 2014 and March 2018. PeoxyChem (US), United Initiators (Germany), Mitsubishi Gas Chemical Company (Japan), Ak-Kim Kimya (Turkey), and Fujian Zhanhua Chemical Company (China) are some of the leading players operating in the persulfates market. 

PeroxyChem focuses on providing effective services as well as developing innovative products to maintain its dominance in the persulfates industry. The company has a manufacturing facility in Tonawanda, US. The company also manufactures persulfates through its subsidiary, RheinPerChemie. It has a limited presence in APAC and generates 100% of the revenue from North America and EMEA. The company launched new products to enhance its market share in the persulfates business. The company is also focusing on expanding its business in APAC to increase its global footprint. For instance, in 2017, PeroxyChem launched a new product, Klozur One, a sodium persulfate-based activated persulfate in the Klozur Series. It is expected to be advantageous for use in In-situ Chemical Oxidation (ISCO), which is used for soil remediation. This enhanced the product portfolio of the company.

AK-Kim Kimya operates as a subsidiary of Akkok Holding Company. The company operates through various segments, namely, textile chemicals, pulp & paper chemicals, basic chemicals, water treatment chemicals, and cement grinding & concrete admixtures. The company’s product portfolio includes methylamines, persulfates, hydrogen peroxides, paper & water treatment chemicals, chlor-alkali & derivatives, bisulfites, and cement & concrete additives. It offers persulfates through its basic chemicals segment. The company is planning to expand its geographical presence as a part of the strategy to gain market share. In line with the strategy, in February 2017, the Company acquired Dinox (Germany). This acquisition helped the company expand in Europe.

Related Reports:

Persulfates Market by Type (Ammonium, Sodium, & Potassium), End-Use Industry (Polymers, Electronics, Cosmetics & Personal Care, Pulp, Paper & Textiles, Soil Remediation, Oil & Gas and Water Treatment), and Region - Global Forecast to 2022

Expansions, Acquisitions, and New Product Developments are the Key Strategies Adopted by the Leading Players in the Global Blow Molding Resins Market

The global market size for blow molding resins is estimated at USD 36.67 Billion in 2017, and is projected to reach USD 51.95 Billion by 2022, at a CAGR of 7.2% between 2017 and 2022. Expansions, acquisitions, and new product developments are the key strategies adopted by the major players to strengthen their footholds in the global blow molding resins market.

North America, followed by the Asia Pacific, and Middle East & Africa witnessed the maximum number of strategic developments undertaken by various players between 2012 and 2017.

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Exxon Mobil (US), LyondellBasell (Netherlands), DowDuPont (US), SABIC (Saudi Arabia), INEOS (Switzerland), Solvay (Belgium), Formosa Plastics (Taiwan), Chevron (US), Eastman (US), China Petroleum (China), and Reliance Industries (India) are the leading blow molding resins manufacturers globally.

DowDuPont (US) is one of the leading players in the blow molding resins market. It is a US-based chemical company formed by the merger of Dow Chemical and DuPont in August 2017. The company has been focusing on new product launches and expansions to maintain its leading position in the market. For instance, in October 2016, E. I. du Pont (US) launched polyamide (PA66 and PA6) and glass-filled blow molding resins used for applications in the automotive industry. Also, in November 2014, Dow (US) expanded the production of polyethylene by revamping its production technology in Argentina. It revamped its four production units for Low Density Polyethylene (LDPE).

LyondellBasell (Netherlands) and Exxon Mobil (US) are other major players in the blow molding resins market. The company adopted the acquisitions strategy to establish its foothold in the Asia Pacific. For instance, in April 2016, the company acquired polypropylene compounder, Zylog Plastalloys Pvt. Ltd in India.

In October 2017, Exxon Mobil (US) started commissioning of the polyethylene production facility in Texas, US. This expansion is expected to increase capacity by 65% or 650,000 tons, which is expected to lead to a new production capacity of 2.5 million tons. The company is focusing on the production of high-performance polyethylene through this expansion. The company has commissioned blow molding resins production facilities closest to its upstream projects to have easy access to raw materials. This has enabled it to produce the resins at low cost.

Related Reports:

Blow Molding Resins Market by Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyvinyl Terephthalate), Application (Packaging, Automotive & Transportation, Construction & Infrastructure), and Region – Global Forecast to 2022

Axalta (US) and PPG Industries (US) are the Leading Players in the Refinish Paint Market

Automotive refinish paint covers all the repainting of vehicles for repair, protection, and decorative purpose. Refinish paint is often carried out after a vehicle is involved in a collision and requires body repair. It is also carried out after a certain period when the vehicle needs to be refurbished to ensure protection from corrosion. Most of the refinish paint are of solventborne, waterborne, and powder technology. These coatings use different resins, including polyurethane, epoxy, acrylic, and others. Different layers of refinish paint are clearcoat, basecoat, primer, and sealer.

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Key players operating in the refinish paint for automotive market have adopted various strategies to strengthen their position in the market. Mergers & acquisition was the key strategy adopted by the leading market players to achieve growth in the refinish paint for automotive market between 2014 and 2017. Key players in the market also adopted strategies, such as new product launches to increase their shares in the refinish paint for automotive market and strengthen their distribution networks.

Axalta (US), PPG Industries (US), BASF (Germany), Sherwin-Williams (US), Kansai Paint (Japan), Nippon Paint (Japan), KCC Corporation (Korea), and AkzoNobel (Netherlands) are some of the leading players in the refinish paint for automotive market.

Axalta (US) is one of the leading companies in the refinish paint for automotive market. The company offers refinish paint for various layers such as clearcoat, basecoat, primer, and sealer. The company has acquired High Performance Coatings (HIPIC) (Malaysia), and Metalak Benelux (Netherlands) to strengthen its market and enhance its technology portfolio.

Similarly, in 2017, PPG Industries (US) acquired Futian Xinshi (China). The acquisition enhances PPG’s position in the growing Chinese refinish paint for automotive market. Futian Xinshi has proven its growth and profitability by leveraging well-positioned brands, mature technology, low-cost operations, and a solid-performing distribution base.

Related Reports:

Refinish Paint Market by Layer (Clearcoat, Basecoat, Primer, & Sealer), Resin (PU, Epoxy, & Acrylic), Technology (Waterborne, Solventborne & Powder), Vehicle (Passenger Cars, Commercial Vehicles), and Region – Global Forecast to 2022

New Product Launches are Some of the Major Strategies Adopted by Leading Players Operating in the Hydrogel Market

Hydrogel is defined as a network of water-insoluble polymer chains that are utilized in the form of a gel in the healthcare and agriculture industries. It contains highly absorbent natural or synthetic polymers, and it has a hydrophilic structure. The hydrogel market is estimated to be USD 11.43 Billion in 2017 and is projected to reach USD 15.33 Billion by 2022, at a CAGR of 6.04% from 2017 to 2022. The rising demand for hydrogels in wound care application and increasing popularity of hydrogel contact lens are factors anticipated to drive the growth of the hydrogel market.

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The hydrogel market is led by major players in the healthcare and chemicals industries. Johnson & Johnson (US), Cardinal Health (US), The 3M Company (US), Coloplast (Denmark), B. Braun Melsungen (Germany), Smith & Nephew (UK), Derma Sciences (US), Royal DSM (Netherlands), Dow Corning Corporation (US), Paul Hartmann (Germany), Momentive Performance Materials (US), Ocular Therapeutix (US), ConvaTec (UK), Ashland (US), Evonik Industries (Germany), Cosmo Bio USA (US), MPM Medical (US), Molnlycke Health Care (Sweden), Hollister (US), Medline Industries (US), Gentell (US), and Alliqua Biomedical (US) are key players operating in the hydrogel market. These players have adopted various growth strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by leading players operating in the hydrogel market.

The mergers & acquisitions strategy accounted for the largest share of 58% of all strategic developments in the hydrogel market in 2016. Companies such as Johnson & Johnson (US), Derma Sciences (US), and Momentive Performance Materials (US) adopted this strategy to expand their geographic reach, strengthen their product & service portfolios, and enhance growth prospects in the hydrogel market.

Johnson & Johnson (US) is a leading manufacturer and distributor of hydrogels and related products for the healthcare industry. In 2017, the company acquired Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott. This acquisition strategy helped Johnson & Johnson expand its contact lens business and enhance its customer base in the hydrogel market.  

Derma Sciences (US) is another key player in the hydrogel market. The company is engaged in the development, distribution, and sales of hydrogels and related products. In 2016, the company launched MEDIHONEY, a hydrogel-based wound care product, which is increasingly utilized in wound treatment. This development strategy helped the company offer improved products in wound care application.

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Expansion was the Key Strategy Adopted by the Leading Players of the Polymer Emulsion Market

The polymer emulsion market size is expected to grow from USD 29.8 billion in 2018 to USD 42.9 billion by 2023, at a CAGR of 7.6%. The global polymer emulsion market is expected to be driven by growing end-use industries such as automotive & transportation and building & construction, especially in the emerging economies. Stringent governmental regulations such as REACH Europe and the Clean Air Act as well as growing awareness towards green building are also driving the polymer emulsion market.

The polymer emulsion market’s competitiveness is continuously increasing with growing demand from various end-use industries. Major polymer emulsion players have adopted various strategies to capture market share and retain their position in the market.  DIC Corporation (Japan), DowDuPont (US), BASF SE (Germany), Arkema Group (France), Celanese Corporation (US), Trinseo (US), The Lubrizol Corporation (US), Wacker Chemie AG (Germany), Synthomer Plc (UK), and Omnova Solutions Inc. (US) are the key players in the polymer emulsions market.

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DowDuPont (US) is the largest player in the market. In May 2018, The Dow Chemical Company, subsidiary of DowDuPont, opened a new Eastern Canada Regional Sales Center in Toronto. The center will serve as a strategic commercial hub for Dow and will increase collaboration and address the needs of Canadian customers. Furthermore, in May 2017, the company signed two agreements to advance Dow’s strategic innovation agenda in the Kingdom of Saudi Arabia. The company will construct a state-of-the-art manufacturing facility to manufacture a range of water-treatment and coatings products. The new facility will serve the country’s need with an innovative range of acrylic-based polymers for architectural and industrial coatings as well as detergent and water-treatment applications.

BASF SE (Germany) is the second-largest player in the market. The company produces a broad range of polymer emulsion for different applications. In March 2018, the company expanded its production facility of Joncryl water-based emulsions at its Ludwigshafen site. This will strengthen the company’s position as a leading manufacturer of water-based resin and emulsion which are used in overprint varnishes, printing inks, as well as functional coatings for flexible packaging and paper & board applications. This is one of the major expansion strategies adopted by the player in the market.

Celanese Corporation (US) maintains its key position by adopting expansion as a strategy in the polymer emulsion market.  In September 2016, the company started production at its newest VAE production unit in Jurong Island, Singapore. This will meet the growing demand for eco-friendly materials in the Southeast Asia region and will support the company’s strategy to add production facilities close to its customer base. In the same year, the company expanded its vinyl acetate/ethylene emulsion product portfolio with the addition of Celvolit 149HV at its Nanjing, China plant. This positioned the company to deliver greater value in adhesive applications to their customers.

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Leading Players and their key Strategies in the Glass Fiber Reinforced Gypsum Market

GFRG, also known as GRG, is a multi-layered composite composed of continuous strand fiberglass mats embedded in a high-density matrix made of alpha gypsum cement plaster. GFRG used as panels comprise chopped glass fibers commonly known as Rapidwall/Gypcrete in the construction industry. GFRG can also be used as pre-cast molds that can be customized into a multitude of finishes, textures, and shapes according to the requirement. They are used in interior as well as exterior applications. Interior application of GFRG include lightweight load bearing, cladding, partition walls, ceilings, ceiling coffers, vault, shaft walls, light covings, and others. Exterior applications include compound walls, sidewalls, wall cladding, and load bearing. The end-use industry for GFRG includes residential and non-residential construction industries. The non-residential industry includes religious places, airports, hospitals, gaming, transportation, casinos, educational institutes, etc. The GFRG market is projected to reach USD 3.44 Billion by 2023, at a CAGR of 7.0% from 2018 to 2023.

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Key players operating in the GFRG market work on numerous projects to strengthen their market position.

Formglas (US), one of the leading manufacturers with a strong product portfolio, provides GFRG to numerous projects to build ceilings, domes, walls, columns, and light covers. The company has recently worked on numerous big projects, namely Macedonian Orthodox Church St. Ilija (Canada), Koi Las Vegas (US), Exxon Mobil Corporation (UAE), etc. The company has a well-established brand name and undertaken various projects across the globe.

Major players operating in the GFRG market include Gillespie (UK), USG Corporation (US), Continental Building Products (US), Chiyoda UTE (Tokyo), CertainTeed (US), Knauf Danoline (Denmark), Saint-Gobain Gyproc (France), and Georgia-Pacific (US). These companies have a strong presence in the GFRG market and are continuously undertaking efforts to improve their business strategies and product portfolios.

Gillespie (UK) is one the leading market players who have worked on various projects across the globe. They are known for their product Zerodec GRG, which is majorly used for interior applications. They have worked on numerous projects such as Venetian, Macau (China), Oita Public Library (Japan), Hilton Hotel (Singapore), Hyatt Regency Hotels (Saudi Arabia), Royal Ascot Racecourse (UK), and several such popular buildings built by the company using GFRG. The company has a strong presence in different parts of the globe. Recently, the company has started working on various projects in different parts of the MEA.

Related Reports:

GFRG (Glass Fiber Reinforced Gypsum) Market by Type (Type X, Type C), Application (Interior and Exterior), End User (Residential and Non-Residential), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2023

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Leading Market Leader - Refrigeration Oil Market

The refrigeration oil market is estimated to be USD 1,005.2 Million in 2017 and is projected to reach USD 1,243.6 Million by 2022 at a CAGR of 4.3% between 2017 and 2022. The increasing demand for refrigerators and freezers from the food and pharmaceutical industries to preserve packaged food items and drugs is one of the major factors driving the market, as refrigeration oil is used to lubricate the compressors in these systems. The rising demand for low global warming potential (GWP) refrigerants, such as hydrofluoroolefins (HFO), carbon dioxide (CO2), ammonia (NH3); and hydrocarbons, such as propane, isobutane, and propylene in refrigeration systems is another factor fueling the growth of the refrigeration oil market. The refrigeration oil market is evolving with major players playing a crucial role in the expansion of their business and entering into joint ventures. Key players in the refrigeration oil market include JXTG Group (Japan), BASF (Germany), and Idemitsu Kosan Co. (Japan).

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Players in the refrigeration oil market are mainly concentrating on expansions and joint ventures to meet the growing demand from the various application segments. Expansions help companies meet the growing demand for refrigeration oil in regions such as Europe, and APAC, while joint ventures help companies strengthen their foothold in the refrigeration oil market.

JXTG Group is the largest player in the refrigeration oil market and engages in the development, production, and sale of petroleum, natural gas, and metals. The company accounted for the largest share of the refrigeration oil market in APAC in 2016. JXTG Group offers POE oil, blends of AB and mineral oil, and mineral oil. The company has a major presence in Japan and is focusing on joint ventures to meet the growing demand in the refrigeration oil market. In March 2014, JXTG Nippon Oil & Energy Corporation, a subsidiary of the JXTG Group, announced a 50:50 joint venture with Tide Water Oil (India) to manufacture and sell lubricants in India. This helped the company strengthen its lubricants business in India.

BASF is one of the world’s largest chemical companies and one of the world’s largest players in the refrigeration oil market. It engages in manufacturing and selling a wide range of chemicals and intermediate solutions. The company offers POE and PAG refrigeration oils. It focusses on joint ventures and expansions to remain competitive in the refrigeration oil market. In February 2015, BASF SE and PETRONAS (Malaysia) built a new plant that produces 2-Ethylhexanoic (2-EH) acid. The acid is a chemical intermediate used in the production of synthetic lubricants and oil additives. The expansion helped the company strengthen its synthetic lubricants business. In May 2014, BASF announced the construction of a new plant for PAG lubricants at its Ludwigshafen site in Germany.

Idemitsu Kosan Co. is a petroleum refining and manufacturing company in Japan. The company has a major presence in APAC and manufactures and sells petrochemical and oil products. It offers PVE and PAG refrigeration oils to global customers. Idemitsu focuses on joint ventures, agreements, and expansions to remain competitive in the refrigeration oil market. In October 2017, the company started operating a service station business in Hanoi, Vietnam, that helped it strengthen its businesses ranging from production and procurement of petroleum products to the sale of such products in the overseas market of the Pacific Rim.

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BASF (Germany) and Songwon (South Korea) ara the Major Players in the Plastic Antioxidants Market

The plastic antioxidants market is expected to grow at a CAGR of 4.5% from 2017 to 2022, in terms of value. Asia-Pacific was the largest market for plastic antioxidants in 2016. The growing demand for plastics in countries, such as China, Japan, South Korea, and India from the packaging, building & construction, medical, and automotive industries is expected to fuel the growth of plastic antioxidants in the region. The market is evolving with major players playing a crucial role in the development of the new and advanced products. Key players in the market include BASF (Germany), Songwon (South Korea), and ADEKA (Japan).

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Players in the plastic antioxidants market are mainly concentrating on expansions, agreements, new product launches, and acquisitions to meet the growing demand from various end-use industries. Expansions help the companies to meet the growing demand for plastic antioxidants in regions such as Asia-Pacific and South America. BASF, Songwon, and ADEKA Corporation have a major share in the plastic antioxidants market.

BASF is focused on expansions to meet the growing demand in the market. In March 2017, the company announced plans to build a new plastic additives plant in Shanghai, China to increase the production of antioxidants and associated blends. The expansion helped the company to meet the growing demand for plastic antioxidants in Asia-Pacific. In 2016, the company announced its plans to invest more than USD 212.1 million to increase the capacity of its global plastic additives production network and meet the growing demand for antioxidants and light stabilizers.

Songwon is focused on new product launches and agreements to meet the growing demand for plastic antioxidants. In August 2017, the company launched nonylated diphenylamine antioxidants SONGNOX L670 and liquid phenolic antioxidants SONGNOX L135. In February 2017, Songwon signed an agreement with Biesterfeld, a leading distributor of plastics and specialty chemicals in Turkey for the distribution of Songwon’s comprehensive range of polymer stabilizers for the automotive, packaging, appliance, and coatings industries in Turkey.

ADEKA focuses on expansions to strengthen its market position in the plastic antioxidants market. In August 2016, the company established a new subsidiary, ADEKA Fine Chemical (Zhejiang) Co., Ltd. in China to manufacture and sell polymer additives.

Related Reports:

Plastic Antioxidants Market by Polymer Resin (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene), Antioxidants Type (Phenolic, Phosphite & Phosphonite, Antioxidant Blends) – Global Forecast to 2022

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Modernization of Infrastructure for Better Performance and Long Service Life Across Various Industries is a Key Factor Expected to Fuel the Growth of the FRP Gratings Market

FRP gratings are used in various applications, due to their versatile properties. FRP gratings in stair treads, walkways, and other applications are a cost-effective means of substituting engineering metals. These gratings are corrosion-resistant and lightweight, which leads to low maintenance and installation costs. The gratings have excellent mechanical properties and stiffness-to-weight ratio, which makes them suitable for use in the construction industry. The global FRP gratings market is projected to reach USD 574.2 Million by 2021, at a CAGR of 4.24% from 2016 to 2021.

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Key companies offering FRP gratings have established offices, manufacturing plants, and distribution centers globally to cater to the increasing demand for these gratings from various end-use industries. Companies such as Kemrock Industries & Exports Ltd. (India), Locker Group (Australia), Webforge (Australia), and Ferro Tech International (UAE) are manufacturing FRP gratings in emerging economies in the Middle East & Africa and Asia-Pacific.

Major manufacturers profiled in this report are Strongwell Corporation (U.S.), Techno Composites Domine GmbH (U.K.), McNichols Company (U.S.), Meiser GmbH (Germany), Bedford Reinforced Plastics (U.S.), AGC Matex Co. Ltd. (Japan), Kemrock Industries & Exports Ltd. (India), Eurograte Fiberglass Grating (Italy), Fibergrate Composite Structure (U.S.), Ferrotech International FZE (UAE), and Exel Composites (Finland). These companies offer a wide range of FRP grating products and received approvals for new FRP gratings. For instance, Fibergrate Composite Structure has been certified for FRP installations in federally registered food establishments. The products manufactured by the company include molded grating, Rigidex mGrating, Safe-T-Span pultruded industrial, and pedestrian grating.

Strongwell Corporation (U.S.) is one of the key manufacturers of FRP gratings and offers a wide range of GRP, FRP, and heavy duty FRP gratings. The company has successfully completed projects to install FRP gratings in various industries with the required specifications. Strongwell Corporation (U.S.) focuses on differentiated business models, proprietary technologies, and competitive cost structures to gain a competitive edge. In December 2015, the company installed DURAGRID HD-4000 2.5 grating panels as trench covers in the Utah State University (USU) Electric Vehicle and Roadway (EVR) research facility in Logan, Utah.

Fibrolux GmbH (Germany) is also a major manufacturer of FRP gratings. The company completed the modernization of its Kaliningrad wastewater treatment plant in 2014. Fibrolux replaced the existing dilapidated steel components with FRP during the restorations. The project comprised of manufacturing, supply, and installation of approximately 400 meters of FRP grating walkways, railings, and platforms.

Related Reports:

FRP Grating Market by Resin Type (Polyester, Vinyl Ester, Phenolic), Process (Molded, Pultruded), Application (Stair Treads, Walkways, Platforms), End-use Industry (Industrial, Water Management, Cooling Towers, Marine), and Region – Global Forecast to 2021

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Aerospace & defense application segment of the microporous insulation market is projected to register the highest CAGR- Global Forecast 2023

The microporous insulation market is projected to grow from USD 132 million in 2018 to USD 165 million by 2023, at a CAGR of 4.7%, during the forecast period. Microporous insulation is a composite material comprising a blend of ceramic powders and fibers, with an average interconnecting pore size comparable to or even less than mean free path of air molecules at standard atmospheric pressure. The microporous insulation material is inorganic in nature, making it non-combustible and suitable for passive fire protection applications. The growing industrialization in Asia Pacific and South America and increasing oil & gas production in countries, such as the US, Saudi Arabia, Iran, and Russia drive the demand for microporous insulation. The requirement for high thermal insulation products in various applications, such as industrial, oil & gas, energy & power also drive the demand for microporous insulation.

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 The aerospace & defense application segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. The demand for microporous insulation is increasing in the aerospace application due to increasing demand for light-weight materials, which in turn, saves the fuel consumed during operation of an aircraft. In addition, the use of microporous insulation provides high performance and helps to meet the space and weight specifications in the aerospace sector. It is the most demanding sector in terms of performance & reliability due to operational and safety reasons.  

Europe is projected to account for the largest share of the microporous insulation market during the forecast period.

Europe is estimated to be the largest microporous insulation market in 2018 and is expected to continue to lead the market till 2023, owing to rising awareness to conserve energy in the region. In addition, presence of stringent regulations regarding the use of insulation materials which comply with Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and European Dangerous Substances Directive Amendment 97/69/EC, drive its demand in the region. Also, the presence of various manufacturers of microporous insulation in the region drives its demand.  

Recent Developments

• In July 2014, Morgan Advanced Materials acquired Porextherm Dämmstoffe GmbH (Germany), one of the leading manufacturers of microporous insulation panels. This helped the company to strengthen its product portfolio of microporous insulation and vacuum insulation panels.
• In May 2014, Industrial Insulation Group, LLC (US), a subsidiary of Johns Manville, launched InsulThin, a high temperature, flexible, hydrophobic, microporous, and fumed silica blanket insulation. The new product launch helped the company to broaden its industrial insulation product portfolio.
• In March 2014, Promat International opened Nippon Microtherm Factory in Tsu City, in Japan. The expansion helped the company to strengthen its high-performance insulation product business.

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Eco-friendly production process of bio-based propylene glycol coupled with growing automotive industry in Asia-Pacific is expected to drive the global propylene glycol market

The global propylene glycol market was valued at USD 3.47 billion in 2016, and is projected to reach USD 4.60 billion by 2021, at a CAGR of 5.8% from 2016 to 2021. This market is segmented on the basis of source, application, end-use industry, and region.

Based on source, bio-based propylene glycol is expected to be the fastest-growing segment during the forecast period. Bio-based propylene glycol is used in various application areas, such as pharmaceuticals & cosmetics, antifreeze & functional fluids, unsaturated polyester resin, and others.  

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By application, the food, pharmaceuticals & cosmetics segment is expected to witness high growth from 2016 to 2021. Increased health consciousness and improving lifestyle of people are fueling the growth of this segment. In addition, consumer’s preference for expensive cosmetic products is driving the growth of food, pharmaceuticals & cosmetics application.  

Transportation is expected to be the fastest-growing end-use industry during the forecast period. The increasing use of propylene glycol in applications such as aircraft wings, automotive coolant, hydraulic & brake fluids and gel coats is driving the market in the transportation segment. Propylene glycol is widely used in the transportation industry due to the growing automotive industry.

The Asia-Pacific region is projected to be the fastest-growing market for propylene glycol from 2016 to 2021. The propylene glycol market in this region is expected to grow at a high rate, owing to rapid economic growth, particularly in the transportation and building & construction industries. Growing opportunities in emerging economies such as China and India and rising demand for bio-based propylene glycol in pharmaceuticals & cosmetics application are creating opportunities for the manufacturers of propylene glycol.

Some of the key players operating in the global propylene glycol market are The Dow Chemical Company (U.S.), LyondellBasell Industries N.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Global Bio-chem Technology Group Co., Ltd. (China), DuPont Tate & Lyle Bio Products Company, LLC (U.S.), Huntsman Corporation (U.S.), SKC Co., Ltd. (South Korea), Temix International S.R.L. (Italy), and Ineos Oxide (Switzerland) among others. Most of the companies have adopted contracts & agreements and expansions as their development strategies to increase their shares in the global propylene glycol market.

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