Increasing use of nano-coatings driving the market of Industrial Coatings Market

The industrial coatings market is expected to grow from USD 85.2 billion in 2020 to USD 103.2 billion by 2025, at a CAGR of 3.9%. The major factors driving the industrial coatings market include the increasing demand for environmentally-friendly coatings, need for efficient process and durable coatings with better aesthetics, and growing demand from the APAC region.

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Nano-coatings provide weather resistance to protect coated surfaces from getting degraded. Nano-coatings offer excellent properties, such as high-temperature resistance, waterproofness, UV-stability, high-abrasion resistance, and corrosion resistance. They are also environmentally-friendly and non-toxic and are easy to clean. They are considered as sustainable protective coatings. Owing to these properties, nano-coatings find applications in automotive, aerospace, electronics, food & packaging, and marine industries. Nano-coatings also enhance the properties of display screens of electronic devices and extend their useful life. They enable easy cleaning, disinfection, and sterilization of these devices.

The everyday uses of powder-based industrial coated products include lighting fixtures, antennas, and electrical components. Schools use powder-coated bleachers, soccer goals, basketball backstops, lockers, and cafeteria tables. Corporate offices utilize powder-based industrial coated file drawers, computer cabinets, laptop computers, and cell phones. In domestic homes, applications include baby strollers, cribs, playpens, car seats, toys, wagons, electronic components, gutters & downspouts, bathroom scales, mailboxes, satellite dishes, toolboxes, and fire extinguishers. The rapidly increasing demand for these products will boost the market over the next five years.

APAC has emerged as the leading consumer and producer of industrial coatings. The easy availability of low-cost labor and raw materials are driving foreign investments, which is increasing the production of industrial coatings in the region. APAC is also the fastest-growing industrial coatings market.

Major players in the industrial coatings market include Jotun A/S (Norway), Axalta Coating Systems, LLC (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Teknos Group (Finland), PPG Industries, Inc. (US), RPM International Inc. (US), Tikkurila Oyj (Finland), Hempel A/S (Denmark), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Chemours Company (US), and NOROO Paint & Coatings Co Ltd (South Korea).

Activated Carbon Filters Market worth $330 million, at a CAGR of 4.4%

The activated carbon filters market size is projected to grow from an estimated value of USD 267.3 million in 2020 to USD 330 million by 2025, at a CAGR of 4.4%. The growth in activated cabon filters market is attributed to the stringent regulation on industrial discharge to control water pollution and regulations drinking water quality standards to control water borne diseases. The market growth is also attributed to the rapid urbanization and growth in industrial, food & beverage, pharmaceutical applications. One of the emerging applications of activated carbon filters is gas separation. Activated carbon filters are used to separate components of gas through pressure swing adsorption phenomena (PSA).

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Stainless steel shell is the fastest-growing segment of activated carbon filters market
Stainless steel shell was the largest segment of the activated carbon filters market globally in 2019 in terms of value. Stainless steel shell is anticipated to account for the biggest share of the overall activated carbon filters market during the forecast period. The growth of stainless steel shell activated carbon filters is attributed to its durability and less-corrosive properties. Carbon steel shell activated carbon filters are less durable because of its corrosive nature.

Industrial water pollution treatment is the largest application of activated carbon filters market
The industrial water pollution treatment application is expected to be the largest, and drinking water purification application is expected to be the fastest-growing segment in the overall market. The global activated carbon filters market is mainly driven by the implementation of stringent regulations by regional governments and environmental agencies to control water pollution. Also, activated carbon filters are used to treat industrial discharge to re-use it in the manufacturing rocess again. Re-use of industrial discharge water and water pollution control are the two major making industrial water pollution treatment the largest application in the market.

APAC is estimated to be the largest market for activated carbon filters in 2019. The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC. According to the World Bank, APAC is the fastest-growing region in terms of both population and economy. The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP. High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector. This is expected to increase the demand for activated carbon filters in water pollution treatment and water purification applications.

The key companies profiled in this report on the activated caron filters market include TIGG LLC (US), Puragen Activated Carbons (US), Cabot Corporation (US), Westech Engineering (US), Kuraray Co. Ltd. (Japan), Lenntech B.V. (The Netherlands), Donau Carbon Corporation (Germany), General Carbon Corporation (US), Sereco S.R.L. (Italy), Carbtrol Corp (US).

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Wind energy is expected to be the fastest-growing end-use industry of epoxy adhesives market

The global epoxy adhesives market size is projected to grow from USD 7.2 billion in 2019 to USD 9.6 billion by 2024, at a CAGR of 6.0%. Epoxy adhesives are used in various applications due to their exceptional bonding and mechanical & electrical insulating properties and resistance to chemicals and heat.

Based on end-use industry, the epoxy adhesives market has been segmented into building & construction, transportation, marine, automotive, wind energy, electrical & electronics, and others. The market in the wind energy industry is projected to grow at the highest CAGR, in terms of value, during the forecast period. This high growth is owed to the continuous improvements in the structure of blades and other wind turbine components. There are developments going on for making the blade lighter and taller. Epoxy adhesives are the best solution for adhesion of blade parts and are dominantly used in the preparation of turbine blades. The increasing use of renewable energy and installation of windmills is expected to drive the epoxy adhesives market in the near future.

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Recent Developments

• Henkel invested USD 39.4 billion in June 2019 and opened a new European hub for high-performing aerospace solutions in Spain. This expansion has helped to provide high-performance epoxy adhesive solutions for the constantly growing demand and concentrate on the key trends in the global aerospace industry such as light-weighting, fuel efficiency, and automation.
• H.B. Fuller established an engineering adhesives business in Japan in March 2019. This expansion has strengthened its engineering adhesive (EA) businesses in Japan by focusing on high-performance epoxy adhesives, including reactive adhesive chemistries and applications.
• Sika introduced SikaPower-4508, a one-component heat curing epoxy adhesive based on flexibilized epoxy resin to the US market in March 2018.

The global epoxy adhesives market is segmented on the basis of region as APAC, Europe, North America, South America, and the Middle East & Africa. However, India and Thailand are the fastest-growing markets for epoxy adhesives in the region. Owing to increased government investments in developing countries for infrastructure, such as public utilities, commercial, and entertainment structures, and housing demands to cater to the steadily-growing population, the demand for epoxy adhesives in this region is expected to growth significantly.

The major players in the epoxy adhesives market include Henkel AG (Germany), Sika AG (Switzerland), 3M Company (US), H.B. Fuller (US), DuPont (US), Illinois Tool Works Incorporation (US), Ashland (US), RPM International (US), Lord Corporation (US), and Huntsman Corporation (US).

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Increasing use in PV installations are major driving factors for the high performance fluoropolymers industry growth

 

The global high performance fluoropolymers (HPF) market size is estimated to be USD 3.3 billion in 2019 and is projected to reach USD 4.6 billion by 2024, at a CAGR of 6.9%, between 2019 and 2024. HPF is used mainly in industrial processing, transportation, electrical & electronics, and medical, among others. It is used for manufacturing various products such as coatings, films, membranes, tubes, wire & cable, seals, gaskets, liner, mechanical parts, and many others in these industries. High chemical & temperature resistance, excellent dielectric properties, and lightweight are some of the characteristics owing to which the demand for high performance fluoropolymers is high in industrial processing segment.

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PTFE accounted for the largest share in total HPF market

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.

Coatings segment accounted for the largest market share and the fastest-growing segment in the HPF market

HPF possesses high energy & stronger C-F bond, excellent oxidative stability, boiling point, and electrochemical properties, which make them highly suitable for coating application in various industries. Owing to these unique benefits, HPFs are in high demand in the form of coating for various substrates such as metal, glass, fibre, plastics, and wire & cables.

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.

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) are a few active players in the HPF market.

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How graphene battery market is seeking business across emerging regions

Increasing demand from the transportation sector and electrification of vehicles are expected to drive the market of Polyetherimide (PEI)

The market for Polyetherimide (PEI) is projected to grow from USD 522 million in 2019 to USD 714 million by 2024, at a CAGR of 6.5%. PEI is a high-performance polymer with both ether links and imide groups in its polymer chain. It is used in high-temperature applications where fast dissipation of heat is essential. Due to its creep resistance, low smoke emission, and flame resistance, the demand for PEI as a thermally conductive plastic has increased significantly. PEI, along with thermally conductive fillers, is a cost-effective solution to metals due to lesser manufacturing steps and joints.

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In the transportation segment, automotive is one of the largest end-use industries of PEI. The use of PEI has been increasing due to its ability to replace metal and other thermosets and bulk molding compounds. PEI is apt for applications that require high heat resistance, strength, and chemical resistance. The largest application of PEI in this segment is in the electrical and lighting systems, followed by under-the-hood applications.

With the rise of electric vehicles, reduction in weight, and increasing demand for fuel-efficient products, the automotive industry is undergoing a transition in terms of material substitution. Therefore the demand for specialty polymers is increasing. PEI is expected to play a key role in this transition of plastics replacing metals in the automotive industry, which is expected to drive the market during the forecast period.

The key countries contributing to the growth of the PEI market in Europe are Germany, France, the UK, Italy, and Spain. Favorable government policies are expected to provide growth opportunities for R&D in the electronics & semiconductor and automotive industries in these countries. The growth in R&D investment in the region is mainly driven by the automotive, information and communications technology (ICT), and healthcare industries, which is expected to boost the demand for PEI in the region.

The leading players in the PEI market are SABIC (Saudi Arabia), RTP Company (US), Ensinger Plastics (Germany), Röchling Group (Germany), Kuraray Europe (Germany) Mitsubishi Chemical Advanced Materials (Japan), Solvay SA (Belgium), (Denmark), and Toray Industries (Japan).

The leading players in the PEI market are SABIC (Saudi Arabia), RTP Company (US), Ensinger Plastics (Germany), Röchling Group (Germany), Kuraray Europe (Germany) Mitsubishi Chemical Advanced Materials (Japan), Solvay SA (Belgium), (Denmark), and Toray Industries (Japan).

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Asia Pacific is expected to lead the LTCC market and HTCC market

Asia Pacific is the largest and the fastest-growing LTCC market and HTCC market. The automotive and telecommunications are the major consumers of co-fired ceramic in the region. Presence of a large number of co-fired ceramic manufacturers makes the region the most important market for co-fired ceramic. The growth is also attributed to the high demand for co-fired ceramic in the automotive, telecommunications, industrial, consumer electronics, and aerospace & defense end-use industries. The continuous rise in the manufacturing of technologically advanced electronic products has resulted in high demand for co-fired ceramic in the region. This increasing demand for technologically advanced electronic products for use in various applications has led to innovations and developments in the electronics industry of Asia Pacific region.

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.

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Co-fired ceramic is available in two process types, namely, LTCC (Low-Temperature Co-Fired Ceramic), and HTCC (High-Temperature Co-Fired Ceramic). LTCC process type is expected to register the highest CAGR during the forecast period as it is used in various applications such as high radio frequency, wireless devices, antennas, and radar. The LTCC process allows metallization with conductive materials such as silver, gold, and copper at a lower temperature compared to the HTCC process. The LTCC process offers properties such as low-loss of electric signals, high component density, increased functionality, excellent stability, and reliability.  

Co-fired ceramics are finding increasing application in the automotive segment. This growing use of co-fired ceramic in the automotive industry is mainly due to the demand for high performance and compact electronic components. The co-fired ceramic is used in the form of LTCC and HTCC in various applications in the automotive industry. The co-fired ceramic is used widely in engine control units, transmission control units, electronic power steering, engine management system, antilock brake systems, airbag control modules, LEDs (automotive lighting), entertainment & navigation systems, pressure control modules, pressure sensor, radar modules, and various sensor modules in vehicles.

Some of the key players in the LTCC market and HTCC market 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). The key strategies adopted by the major players for enhancing their business revenue are new product developments, partnerships, and acquisition.

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Essential oils natural fragrance ingredient is expected to lead the natural fragrance market

The natural fragrance market size is projected to reach USD 4.3 million by 2024 from USD 2.7 million in 2019, at a CAGR of 9.6%. Rising demand for natural products and increased use of natural fragrances in various applications such as fine fragrances, personal care & cosmetics, and household care, are expected to drive the natural fragrances market. Additionally, rapid urbanization and industrialization in countries such as China, Japan, Brazil, and Argentina will increase the demand for various end-use products such as fine fragrances, personal care & cosmetics, and household care. This factor is estimated to drive the natural fragrance market.

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The essential oils natural fragrance ingredient is estimated to lead the natural fragrance market in terms of value. The awareness about health hazards due to the use of synthetic products has increased, hence creating a surge in demand for natural & organic products. Thereby, it increases the need for essentials oils and natural extracts. Additionally, rising consumer awareness regarding the numerous health benefits of essential oils as topical application and aromatherapy are expected to drive the growth of the market.

Recent Developments

1. In April 2018, Mane SA opened a new manufacturing site in Colombia. This will help the company to strengthen its position to serve the customers in the Andean region better and capture growth opportunities in fragrances markets.

2. In January 2018, Takasago International (Singapore) Pte. Ltd., a subsidiary of Takasago International Corporation, opened a new office in Lahore, Pakistan. The expansion will help the company increase its market presence in Pakistan

Europe is estimated to be the largest market for natural fragrances

Europe is the largest natural fragrances market and is expected to continue dominating the global market during the forecast period. Increased investments in the manufacturing industries primarily drive the market. Improving living standard has been driving the growth of the personal care & cosmetic industry, which is expected to drive the natural fragrances market.

The key market players profiled in the report include as Givaudan SA (Switzerland), Firmenich SA (Switzerland), International Flavors & Fragrances (US), Symrise AG (Germany), Takasago International Corporation (Japan), Mane SA (France), Robertet SA (France), Sensient Technologies Corporation (US), T. Hasegawa Co., Ltd. (Japan), Bell Flavors & Fragrances (US).

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