Growing demand from the food packaging and pharmaceutical industry to drive the Thermoforming Plastic market growth

The thermoforming plastic market size is estimated to be USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% during the forecast period. The food industry represents the largest consumption group for thermoforming plastics. The key classifications found in the food & agriculture packaging industry include fresh produce, processed food, and non-perishables. As thermoforming plastic provides better protection from moisture, bacteria, and odor, it is ideal for packaging food for a more extended period. Blister packaging is the predominantly used type of thermoforming plastic in the medical sector, as it is easy to peel and convenient to handle. Moreover, pharmaceutical products require protection from moisture, leakage, microorganisms, and other environmental conditions, which is provided by blister packaging.

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In-mold labeling (IML) technology in the thermoforming market is has made the manufacturing process cost-effective. Now, companies are introducing new products with IML, especially in the European market. IML has enormous potential to penetrate in other regions as well. IML allows the manufacturers to save time and money by integrating the labeling process directly into the thermoforming process. This new technology of IML enables the thermoformers to save up to 20% in resin cost by light-weighting containers with IML. IML technology is a huge opportunity for thermoformers in the thermoforming plastic market.

Rising demand from emerging economies such as China, India, and Brazil is the potential opportunity in the market. The increase in per capita income, double-income families, industrialization, and technological advancements in manufacturing could lead to tremendous growth in the thermoforming plastic market in these countries. The rise in living standards and changes in lifestyles in developing countries contribute to the development of the convenience packaging market and consequently impact the thermoforming plastic market. According to the India Brand Equity Foundation (IBEF), the Indian healthcare sector is projected to progress at a 15% CAGR to reach USD 158.2 billion by 2017. However, the biggest challenge for market growth is compliance with stringent regulations for thermoforming plastic.

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The top players in the thermoforming plastic market have implemented various strategies in the market. For instance, in April 2018, Sonoco Products Company (US) acquired Highland Packaging Solutions (US), a leading manufacturer of thermoformed packaging for fresh fruits, vegetables, and eggs. This helped the company to expand its thermoforming packaging capabilities for fresh products. In September 2018, D&W Fine Pack LLC expanded its line of TamperSmart brand packaging. This was done to provide even more products with tamper-evident features. This helped the company to fulfill the growing demand for the grab-and-go sector of food packaging.

High Performance Fluoropolymer Market – Global Opportunity, Growth Analysis up to 2024

The high performance fluoropolymer (HPF) market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations.

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PTFE is the most widely used type of HPF and accounted for the largest market share. There is an increase in the use of dispersion and fine powder PTFE, for various applications, especially in North America and APAC. It is used in a wide range of applications such as semiconductor, automotive components, electrical appliances, and non-stick cookware. The growing applications in the electrical & electronics industry are expected to trigger the demand for PTFE, especially in advanced batteries and fuel cells.

Scope of the Report:

Report Metric	Details
Base year considered	2018
Forecast period	2019–2024
Units considered	Volume (Kiloton) and Value (USD)
Segments	Type, Form, End-use Industry, and Region
Regions	North America, APAC, Europe, and RoW
Companies	The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), Solvay SA (Belgium), AGC (Japan), The Dongyue Group (China), Gujrat Fluorochemicals Ltd. (India), Halopolymer OJSC (Russia), Hubei Everflon polymer (China), and China Reform Culture Holdings Co. Ltd (China). Total 10 major players covered.

This research report categorizes the HPF market based on type, form, end-use industry, and region.

By Type:

• PTFE
• FEP
• PFA/MFA
• ETFE
• Others (Includes ECTFE and PCTFE)

By Form

• Coatings
• Films & Membranes
• Tubing
• Others (Includes wire & cable, mechanical components & parts, additives, and liners)

By End-use Industry

• Industrial Processing
• Chemical processing
• Oil & Gas
• Power Plants
• Water Treatment
• Food Processing
• Transportation
• Automotive
• Aviation
• Electrical & Electronics
• Telecommunication
• Semiconductors
• Electronic Components
• Defense Electronics
• Medical
• Medical Devices
• Pharmaceutical & Biotechnology
• Others
• Building & Construction
• Consumer Household

By Region

• North America
• APAC
• Europe
• RoW

The HPF market has been further analyzed based on key countries in each of these regions.

APAC is expected to be the fastest-growing market for HPF, owing to the presence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the HPF market in this region. In 2018, China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.

Hot Mix Technology held the largest share of the Global Asphalt Additives Market

Hot mix asphalt is durable, resistant to moisture damage and thermal cracking. It also provides excellent workability and skid resistance. This segment is growing due to developments in the construction of high traffic roads like such as highways, race tracks, and airfields.

The asphalt additive market is projected to grow from USD 3.6 billion in 2019 to USD 6.3 billion by 2029, at a CAGR of 5.7%. Increase in infrastructure development and road construction projects is one of the key factors driving the growth of the asphalt additive market across the globe.

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Governments of countries such as, China, India, Malaysia, and Indonesia in the Asia Pacific region have invested in infrastructure development, which includes the construction of new highways and freeways. This has lead to the growth of the asphalt additives application segment.

Based on type, the asphalt additives market has been segmented into:

• Polymeric Modifiers
• Anti-strip and adhesion promoters
• Emulsifiers
• Chemical Modifiers
• Rejuvenators
• Fibers
• Flux Oil
• Colored Asphalt
• Others

1. Organic Materials
2. Rubber Modifiers

Based on Technology the asphalt additives market has been segmented into:

• Hot Mix
• Cold Mix
• Warm Mix

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The Asia-Pacific region was the largest market for asphalt additives in 2018, owing to the increasing demand for asphalt additives products in developing economies, such as India and China. China is the leading consumer of asphalt additives products in the Asia-Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia-Pacific asphalt additives market.

Key Market Players

Nouryon (Netherlands), DowDuPont (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Sasol Limited (South Africa), Ingevity Corporation(US), Arrmaz (US), BASF SE (Germany), Kao Corporation (Japan) are some of the leading players operating in the asphalt additives market. These players have adopted the strategies of expansions, new product developments, acquisitions, and collaborations to enhance their position in the market.

Microporous Insulation Market to Record Robust Growth between 2019 and 2023

The microporous insulation market size is projected to grow from USD 132 million in 2018 to USD 165 million by 2023, at a compound annual growth rate (CAGR) of 4.7%. Growth in various applications, where space is a constraint, such as aerospace & defense as well as growing demand for energy & power has triggered the demand for microporous insulation.

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The microporous insulation market has been segmented based on product type into rigid boards & panels, flexible panels, and others. The other product type segment includes moldable products, machined parts, and pourable products. The flexible panels product type is estimated to witness highest CAGR, in terms of value, during the forecast period. This is because flexible panels exhibit excellent dimensional stability and improved mechanical resistance to vibration and impact. They are energy-efficient and can be conveniently handled and transported.

The microporous insulation market has been segmented based on application, into industrial, energy & power, oil & gas, aerospace & defense, automotive, and others. The other applications include automotive and consumer appliances. The market in the aerospace & defense application segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is due to the increasing demand for light-weight materials, which, in turn, saves the fuel consumed during the operation of an aircraft.

The market in Asia Pacific (APAC) is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is because the rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the region offer various opportunities regarding the use of microporous insulation. In addition, the increase in demand for energy, power, metal, and automotive, is also expected to drive the market. The market for microporous insulation market is significantly driven by the oil & gas segment, where there is high demand for advanced insulation solutions having reduced thickness and low thermal conductivity.

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Key Driving Factors Of The Chlor-Alkali Market

Increasing demand of chlor-alkali products in the emerging markets, high demand from end-use industries, and high existing production capacities of chlor-alkali products is driving the chlor-alkali market. Growth in the demand of EDC/PVC is driven by the growing construction, automotive, and personal care industries, globally. Growth of the chlor-alkali market is backed by growth in its niche applications, which include textile, water treatment, and various others. The market for chlor-alkali will continue to be governed by such factors in the future.

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Three main products, namely, chlorine, caustic soda, and soda ash mainly characterize the chlor-alkali industry. These chlor-alkali products are further used in various applications, which include EDC/PVC, organic and inorganic chemicals, paper & pulp, water treatment, glass, metallurgy and other applications. In 2015, EDC/PVC application of chlorine had the largest market share among all the applications of chlorine.

The shutting down of all mercury cell-based plants is set to have an effect on the European market. Not all plants are planned to be modified into membrane or diaphragm technology. This is expected to increase the imports in the European region, which is still reeling from the Eurozone crisis.

Asia-Pacific and the Middle East & Africa are the fastest-growing chlor-alkali markets. The rising per capita consumption of chlorine, caustic soda, and soda ash has made these regions as hotspot for the chlor-alkali market. Increasing industrialization in India, Southeast Asia, and China has made Asia-Pacific the market leader, in terms of demand as well as growth. The Middle East has always enjoyed cheaper electricity tariffs and is strategically located to cater to the needs for export markets in Asia-Pacific, North America, and Europe.

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Food and pulp & paper accounted for the largest share of caustic soda in 2015. It is further projected to follow the same trend and remain the largest application until the forecast period. In addition, the fastest-growing application for caustic soda is projected to be textile. For soda ash, glass accounted for the largest share, its demand in 2015 was over 50% of the total soda ash market. Increased demand from the packaging & container industry has spurred the demand for glass, globally. With the increase in demand from construction, automotive, and other industries, the demand for EDC/PVC is set to increase at a significant rate. EDC/PVC was also the largest application segment for chlorine. The Middle East & Africa and Asia-Pacific regions offer high growth opportunities in the chlor-alkali market.

Many companies in this industry have expanded their production capacities and also involved in other market penetration activities. Olin Corporation (U.S.), Solvay (Belgium), Tata Chemicals Limited (India), Occidental Petroleum Corporation (U.S.), Axiall Corporation (U.S.), AkzoNobel N.V. (Netherlands), Formosa Plastic Corporation (Taiwan), Hanwha Chemical Corporation (Korea), Tosoh Corporation (Japan), Nirma Limited (India), and Tronox (U.S.) were the most active companies.

Epoxidized Soybean Oil Market by Application (Plasticizers, UV Cure Applications, Fuel Additives) – Global Forecast to 2026

Soybean oil is projected to be the leading raw material in the production of epoxidized soybean oil from 2016 to 2026. Soybean oil is a light yellow colored vegetable oil derived from the seeds of the soybean. It is extensively used in edible applications such as in the manufacture of food products. Out of the numerous inedible applications, it is also used as an additive and as a stabilizer in plasticizers. The plasticizers become more reactive on the addition of ESBO due to the carbon-carbon double bonds that undergo the epoxidation process present in vegetable oil. Soybean oil is an ecofriendly alternative and is easily available in large amounts, is preferred by oleo chemical producers.

This growth is fueled by the expected high demand from the application segment due to the easy availability of epoxidized soybean oil in large volumes, and at lower prices. Further, the global demand for epoxidized soybean oil in the North American, Asia-Pacific, and European regions is growing due to stringent environmental regulations. Epoxidized soybean oil is preferred as against phthalate-free stabilizers in PVC applications, and hence ESBO is used widely as an additive in plasticizers.

Plasticizers: The largest application of epoxidized soybean oil
Polymer materials are made flexible, user-friendly, and resilient with the addition of plasticizers. When ESBO undergoes heat treatment, it acts as a scavenger for hydrochloric acid liberated from poly vinyl chloride. ESBO being a bio-based plasticizer, is gaining traction in PVC stabilization applications over the phthalate plasticizers.

The report “Epoxidized Soybean Oil Market by Raw Material (Soybean Oil, Hydrogen Peroxide), Application (Plasticizers, UV Cure Applications, Fuel Additives), End-use Application (Foods & Beverages, Adhesives & Sealants, Automotives) – Global Forecast to 2026″.The global Epoxidized Soybean Oil (ESBO) market is projected to reach USD 691.7 Million by 2026, at a CAGR of 11.04%.

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The European region was the fastest-growing market for epoxidized soybean oil, in terms of value, in 2015 and this trend is expected to continue till 2026. Germany, France, U.K, Italy, Russia, and Turkey are the major consumers in the European region. The high demand for epoxidized soybean oil is primarily due to the stringent environmental regulations by the European Union (EU) for the use of non-phthalate plasticizers in foods & beverages packaging and other applications. Germany is the major consumer of ESBO and the demand for epoxidized soybean oil is expected to increase during the forecast period in the region.

Epoxidized soybean oil is serving as an alternative to phthalate plasticizers and hence complies with the standards set by regulatory bodies in the European Union, such as Regulation, Evaluation, Authorization and the Restriction of Chemicals (REACH).

Companies such as, Arkema SA (France), The DOW Chemical Company (U.S), Galata Chemicals (U.S), CHS Inc. (U.S), Ferro Corporation (U.S), are the leading market participants in the global epoxidized soybean oil market. These companies have been adopting various organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product developments to enhance their market shares in the epoxidized soybean oil market.

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Solid sodium silicate is estimated to be the largest form of sodium silicate

Sodium silicate market is classified into two forms, namely, solid sodium silicate and liquid sodium silicate. Solid sodium silicate is the most-widely used form of sodium silicate owing to its extensive use in the construction and fire protection applications because of its easy and low-cost transportation and storage.

It suitable for a wide range of applications such as manufacturing of refractories, ceramics, and firestop devices due to its easy and low-cost transportation and storage compared to liquid sodium silicate. Most of the solid sodium silicate is converted into the liquid form by dissolving in water for use in applications such as detergents, precipitated silica, pulp & paper, and water treatment.

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Detergents: fastest-growing application for sodium silicate

The sodium silicate market size for the detergents application is projected to register the highest growth during the forecast period. The consumption of sodium silicate in this application is growing due to the rising demand for sodium silicate for the manufacturing of detergents that are used for various cleaning and washing processes, such as domestic or industrial clothes washing; floor cleaning; washing of dishes, bottles, dairy equipment, and locomotives; and metal cleaning and degreasing.

The sodium silicate market size was estimated to be USD 8.91 Billion in 2017 and projected to reach USD 11.03 Billion by 2022, registering a CAGR of 4.4%. The growing demand for detergents globally and rising demand for precipitated silica from the rubber & tire industry are expected to be the major drivers for the global sodium silicate market during the forecast period.

Asia Pacific is estimated to be the largest market for sodium silicate. China is estimated to be the leading market for sodium silicate in Asia Pacific. India, Japan, and South Korea are the other major countries contributing to the growth of the sodium silicate market in the region. The increasing demand for sodium silicate from applications such as detergents and construction is expected to drive the sodium silicate market in these countries.

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Paper & packaging application is projected to lead the acrylic adhesives market by 2022

Paper & packaging was the largest application segment of the acrylic adhesives market in 2016. Increasing demand for consumer goods in several countries across the globe is a key factor expected to fuel the growth of the paper & packaging segment in the coming years. In the packaging application, acrylic adhesives are extensively used in the production of labels, cases and cartons. Other applications of acrylic adhesives include building & construction, woodworking, transportation, consumer, and leather & footwear, among others.

The acrylic adhesives market is projected to grow from USD 8.84 Billion in 2017 to USD 11.72 Billion by 2022, at a CAGR of 5.81%.

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Technological advancements are expected to fuel the demand for acrylic adhesives in mature markets, such as North America and Europe. Properties such as less cure time, increased performance benefits, better adhesion to a variety of substrates, and resistance to chemicals and various innovations in acrylic adhesive products are expected to drive the growth of the market in the near future. The acrylic adhesives market is shifting from traditional solvent-based adhesives to high-performance products such as reactive acrylic and pressure-sensitive acrylic adhesives, driven by the requirement of superior performance.

Asia-Pacific is the largest and fastest-growing market for acrylic adhesives. The increasing use of acrylic adhesives in paper & packaging, construction, and woodworking applications is expected to provide new growth opportunities to the market. High economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and global shift of production facilities from developed markets to emerging markets are some of the key factors driving the acrylic adhesives market in Asia-Pacific.

The restraining factor for the acrylic adhesives market growth is identified as environmental regulations in European countries. Key manufacturers of acrylic adhesives include Henkel AG & Company (Germany), 3M Company (U.S.), Bostik SA (France), H.B. Fuller (U.S.), Illinois Tool Works Inc. (U.S.), Avery Dennison (U.S.), Sika AG (Switzerland), and Royal Adhesives & Sealants, LLC (U.S.).

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