Growth of the Plastic Antioxidants Market is driven by the replacement of conventional materials by plastics

 

The global plastic antioxidants market size is projected to reach USD 2.8 billion by 2024 from USD 2.2 billion in 2019, at a CAGR of 5.0% between 2019 and 2024. 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 new and advanced products. BASF (Germany), SONGWON (South Korea), and ADEKA (Japan) are the major players in the plastic antioxidants market.

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The usage of plastic antioxidants is estimated to be highest in polypropylene (PP) polymer resin during the forecast period. Plastic antioxidants are used in polypropylene due to their susceptibility to oxidation and thermal degradation.

The acrylonitrile butadiene styrene (ABS) polymer resin segment is projected to witness the highest growth between 2019 and 2024. The growth of this segment can be attributed to the increasing demand and manufacturing of ABS in APAC, especially in China. Its durable and robust nature drives its demand in various industries, such as home appliances, electrical & electronics, and automobiles.

Based on antioxidant type, the plastic antioxidants market has been segmented into phenolic antioxidants, phosphite & phosphonite antioxidants, and others. The phosphite & phosphonite antioxidants segment is estimated to register the highest growth.

Phosphites & phosphonites are among the most effective stabilizers, as they protect both primary antioxidants and the polymers during processing. Hydrolytically stable phosphites & phosphonites are generally the most frequently used polymer stabilizers.

BASF is one of the leading producers of plastic antioxidants. The company has undertaken expansion as its growth strategy in the plastic antioxidants market. For instance, in 2019, the company opened its first phase of a new antioxidant manufacturing plant in Shanghai. Also, in 2018, the company expanded the production capacity for Irganox 1010 globally. The company aims to better serve the increasing demand from customers in Asia, Europe, and the Middle East & Africa from its regional supply points.

SONGWON is ranked at the second position in the plastic antioxidants market. The company offers phenolic antioxidants, phosphite antioxidants, antioxidant blends, and other antioxidants such as thioesters. The company focuses on new product launches and agreements to remain competitive in the plastic antioxidants market.

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Glass Filled Nylon Market worth $10.8 billion by 2024, at a CAGR of 5.8%

 

The glass filled nylon market size is estimated to grow from USD 8.2 billion in 2019 to USD 10.8 billion by 2024, at a CAGR of 5.8% during the forecast period. The glass filled nylon market is witnessing significant growth because of the growing demand from industries such as industrial, automotive, and electrical & electronics. Glass filled nylon provides various superior properties such as high strength, dimensional stability, high creep resistance, and chemical resistance.

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The automotive end-use segment accounted for the largest share of the glass filled nylon market

Automotive is an important end-use industry segment of the glass filled nylon market. Glass filled nylon is an ideal solution for vehicle weight reduction. It is fast replacing metal parts in the automotive industry due to the ease of mass production as well as ease in molding it. Polyamides are also cheaper in unit cost in comparison to metals, which make them an economic alternative. Glass filled nylon is used in applications such as automotive engine covers, parts inside the engine compartment, and under the bonnet of cars.

Polyamide 6 is the most widely used glass filled nylon

Polyamide 6 is the most widely used polymer in the making of glass filled nylon. In terms of value and volume, polyamide 6 is the most widely used glass filled nylon due to its easy availability and low price. It also offers superior properties such as good tensile strength, high mechanical strength, and chemical resistance. These properties make polyamide 6 based glass filled nylon suitable for various applications in the automotive and electrical & electronics industries.

APAC is the largest glass filled nylon market, in terms of value and volume. China, India, and Japan are the fast-growing economies that contribute to the growth of the market in the region. The booming electrical & electronics and industrial sectors are also bolstering the glass filled nylon market in APAC. China is one of the prominent consumers of glass filled nylon in APAC. The country has become the single-largest consumer of glass filled nylon in the electrical & electronics industry, which is expected to strengthen its position further.

Major players in the glass filled nylon market include BASF SE (Germany), Asahi Kasei Corporation (Japan), Lanxess (Germany), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), Ensinger GmbH (Germany), Arkema (France), SABIC (Saudi Arabia), Evonik (Germany), and Ascend Performance Materials (US).

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Fabric is the most popular backing material used in the manufacturing of healthcare adhesive tapes

The healthcare adhesive tapes market size is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The major factors driving the healthcare adhesive tapes market are identified as the rising number of surgeries, increasing incidence of diabetes, and the growing number of ambulatory surgery centers. Also, research institutions and various manufacturers are taking initiatives and making huge investments in R&D for the technological development of healthcare adhesive tapes, and the improvement of their properties for use in various applications.

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Fabric tapes have high strength, flexibility, and elasticity, which make them durable. Owing to their strength, these tapes are used for securing dressings, catheters, tubing, and other medical purposes. Their strength and elasticity make them useable on body areas such as the biceps, which expand and contract with movement. The fabric tapes are water resistant and come in a variety of widths, lengths, and styles which are designed to meet an assortment of bandaging needs. These tapes are comfortable and can be removed cleanly and painlessly and are also used for newborn babies. Owing to their fabric backing, doctors or surgeons can mark them with pens to tag surgical scrubs and other equipment. However, these tapes are not used in cases requiring frequent redressing due to their strong adhesion which may cause the skin to peel off.

North America to account for the largest share of the healthcare adhesive tapes market

Various factors have contributed to the growth of the North American healthcare adhesive tapes market. These factors include the rising incidence of chronic wounds, increase in the number of elderly citizens, increasing patient awareness on wound care, aging population, and technological advancements in the healthcare industry. The surgical adhesive tapes application has witnessed steady growth along with an increase in orthopedic and trauma, neurosurgery, cardiovascular, and gastroenterology. The increasing number of orthopedic procedures in the US is driving the demand for bandages and healthcare adhesive tapes.

Major vendors in the healthcare adhesive tapes market include 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc. (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden).

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Road Construction and Paving Application is Expected to Lead The Asphalt Additives Market

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% from 2019 to 2029. 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.

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.

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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 Asia Pacific region was the largest market for asphalt additives

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.

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), and Kao Corporation (Japan) are some of the leading players operating in the asphalt additive market.

In February 2018, Sasol Limited (South Africa) celebrated the completion of the expansion of USD 1.13 billion Fischer-Tropsch Wax Expansion Project (FTWEP) in South Africa. The plant is operated under Sasol Performance Chemicals which manufactures hard waxes, medium waxes, liquid paraffin, and waxy oils for various industrial applications, including hot-melt adhesives, polyvinyl chloride processing, and asphalt applications. The plant is expected to have a production capacity of 137,000 tons per year. This expansion aims at strengthening the position of the company in the South Africa asphalt additive market.

In February 2019, a subsidiary of Arrmaz (US), RoadScience launched a new asphalt emulsifier, ArrTekk. This product is used to provide the required viscidity across asphalts for efficient and cost-effective chip sealing. These products provide better rutting resistance, high cold-temperature performance, and are water resistant. This development helped the company to enhance the depth of its product line.

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Increasing demand for refrigerators & freezers from the food and pharmaceutical industries to preserve packaged food items and drugs drives the market for the refrigeration oil

The refrigeration oil market size is projected to reach USD 1.4 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 4.7%. Emerging economies are witnessing rapid urbanization along with a rise in disposable income. The consequent increase in the standard of living and growing consumption of convenience/packaged food products, coupled with the mass adoption of vaccines and drugs will drive the demand for refrigerators, freezers, air conditioners, and automobile HVAC systems. This will fuel the demand for refrigeration oil, ultimately driving the refrigerator oil market. APAC is the key market for refrigeration oil, globally, followed by North America and Europe.

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Synthetic oil is the largest segment of the Refrigeration Oil market

The synthetic oil segment accounted for the largest share of the refrigeration oil market in 2018, in terms of value. Synthetic refrigeration oil has several advantages over conventional mineral refrigeration oil, such as high viscosity index, superior chemical resistance, excellent shear stability, and stable performance in extreme conditions. Additionally, its compatibility with low GWP and modern refrigerants gives it an added advantage over mineral refrigeration oil.

Refrigerator & freezer application is estimated to be the largest segment of the natural fragrance market

The refrigerator & freezer application is estimated to be the largest segment of the refrigeration oil market, in terms of value, during the forecast period. The growth of this segment can be attributed to the rising demand for packaged food items and the changing lifestyle of people in developed and developing regions.

The APAC region is estimated to lead the refrigeration oil market in 2018 in terms of value and volume. The increasing population in the region and the rising demand for refrigerators, freezers, air conditioners, and automobiles in the emerging markets of APAC, such as China and India, are some of the major factors projected to drive the demand for refrigeration oil in the region. Furthermore, the improving lifestyle, increasing employment rate, rising disposable income of the people, and mounting foreign investments in various sectors of the economy are some of the other factors that make APAC an attractive market for refrigeration oil manufacturers.

The key market players profiled in the report include JXTG Group (Japan), BASF (Germany), Idemitsu Kosan Co. (Japan), Royal Dutch Shell (Netherlands), ExxonMobil (US), BP (UK), PETRONAS (Malaysia), Chevron (US), Total (France), Sinopec Group (China), FUCHS (Germany), and Johnson Controls (Ireland).

BASF is developing its refrigeration oil business by focussing on joint ventures and expansions to remain competitive in the refrigeration oil market. In May 2019, the company expanded its production capacity of antioxidants for lubricants in China and Mexico due to the increasing global demand for long-life lubricant additives, which will, in turn, will increase the requirement for refrigeration oil.

Idemitsu Kosan Co. focused 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.

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Rising demand in Asia-Pacific is the major growth driver for the chlor-alkali market

The global chlor-alkali market is estimated to reach USD 102.60 Billion by 2021, registering a CAGR of 5.4%. The market is driven by increasing demand for chlor-alkali products in the emerging markets and high demand from various application industries such as organic chemicals, inorganic chemicals, pulp & paper, and water treatment. Three products, namely, chlorine, caustic soda, and soda ash characterize the chlor-alkali market.

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Globally, the chlor-alkali market is one of the largest chemical industries, in terms of both value and volume. The major chlor-alkali products are chlorine, caustic soda, and soda ash.

Asia-Pacific is the largest chlor-alkali market, globally. The region accounts for a major share of the chlor-alkali market and is the largest producer of chlor-alkali, globally. China is the largest and fastest-growing chlor-alkali market in the region. With the continuous increase in capacity of chlor-alkali, the country has an upper hand, as the manufacturing costs in the country for chlor-alkali are low. India is another high growth market for chlor-alkali in the region; the country is expected to be a driving factor for the industry in the region.

Stringent environmental regulations for mercury emissions have forced the producers to shift to diaphragm and membrane cell technologies. There is an oversupply of caustic soda in the market due to the electro chemical unit ratio. The market players are always in a tight spot of how to balance the demand supply for both chlorine and caustic soda, so that there is not much in their inventories.

Solvay S.A. has a global footprint with a wide product portfolio and diverse revenue stream. The demand from the Asia-Pacific market has provided an opportunity for the company to cater to the needs of the region. The volatile exchange rates are affecting the financial situation of the organization. The company’s strong R&D laboratories help it to stay a step ahead of its competitors. It is focused on sustainable development, innovation, and operating excellence.

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APAC is expected to hold the largest market size in the polybutadiene market

The report “Polybutadiene Market by Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region Forecast to 2024″, The polybutadiene market size is expected to grow from USD 10.8 billion in 2019 to USD 13.8 billion by 2024, at a CAGR of 5.1% during the forecast period. The polybutadiene market is driven by tire, polymer modification, and industrial rubber manufacturing industries. However, the fluctuating raw material prices can hinder the growth of the market.

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APAC is estimated to account for the largest value share of the polybutadiene market in 2019. The market is primarily driven by the strong demand from the automotive industry. China is expected to boost the demand for polybutadiene during the forecast period. Increasing disposable income, huge consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting automobile manufacturers to shift their production facilities to the region, thus, creating a high demand for polybutadiene in this region.

The objectives of this study are:

• To analyze and forecast the size of the polybutadiene market, in terms of value and volume
• To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To define, describe, and forecast the market on the basis of type and application
• To analyze and forecast the polybutadiene market on the basis of key regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America
• To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
• To analyze competitive developments such as capacity expansions, new product developments, joint ventures, and mergers & acquisitions in the polybutadiene market

Key Market Players
The major players in the polybutadiene market are ARLANXEO (Netherlands), JSR Corporation (Japan), UBE Industries Ltd. (Japan), SABIC (Saudi Arabia), LG Chem Ltd. (South Korea), Versalis SPA (Italy), PJSC SIBUR Holdings (Russia), Sinopec (China), and Kuraray Co. Ltd. (Japan). These companies adopted new product development, joint venture, and expansion as their major business strategies between January 2015 and August 2019 to earn a competitive advantage in the polybutadiene market.

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What are the future revenue pockets in the steel rebar market?

The global steel rebar market size is projected to grow from USD 198.7 billion in 2020 to reach USD 246.3 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. The major drivers for the market include the increasing use of higher rebar products, the development of value-added products, capacity expansion by steelmakers all around the world, increasing population, and rapid urbanization. However, the current steel rebar industry is also plagued by the recent outbreak of COVID-19 and its impact on the global economy, which is expected to deter the demand for steel rebar during the forecast period

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The deformed steel rebar segment is projected to lead the market during the forecast period

The deformed steel bar segment is the largest and fastest-growing segment by type in the steel rebar market. Deformed bar, formed from carbon steel and provided with ridges for better mechanical anchoring in reinforced concrete, is used in applications such as reinforced concrete slabs, cages, columns, prefabricated beams, and precast products. This deformation of the bar helps in increasing the bond between materials and minimizes slippage in concrete, which is fueling the rapid growth of the deformed bar segment.

Infrastructure segment is projected to be the largest and fastest-growing segment of the steel rebar market by 2025

The infrastructure segment is estimated to have accounted for a major share of the steel rebar market in 2019, followed by the housing, and industrial segments. The use of steel rebar increases the tensile strength of surrounding concrete structures in highways, bridges, and pillar structures. Increasing project counts of highway, bridges, and structural engineering are fueling the growth of the steel rebar market in the infrastructure segment.

Modernization and maintenance of infrastructure projects have led to the increasing demand for steel rebar. Increasing infrastructure projects across the globe, especially in the Asia Pacific, is another major factor driving the growth of the steel rebar market during the forecast period.

The Asia Pacific steel rebar market is projected to grow at the highest CAGR between 2020 and 2025. Growth in this market is attributed mainly to the increasing steel rebar consumption in the construction industry coupled with large steelmaking capacities and consumption of steel rebar in countries such as China, India, Japan, and South Korea.

Increasing building & construction activities supported by a rapidly growing population, need for new residential housing, and major infrastructure investment projects announced in countries like China is expected to create future market avenues for steel rebar industries. In addition, strong policy initiatives such as the mandatory use of domestic steel in government infrastructural projects, shutting of environmentally hazardous blast furnace capacities and increasing use of electric furnace to produce steel rebar from scrap in China and National Steel Policy introduced in India to make the country self-sufficient in terms of steel production are some of the factors expected to support the growth of the domestic steel rebar market. However, currently, the world is facing a crisis related to the outbreak of coronavirus disease by which the world trade, travel, and even the domestic activities have come to a standstill. This is having a severe impact on the Chinese steel industry, which is home to 60% of the world’s steel rebar production.

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Persulfates Market worth $861 million by 2025, at a CAGR of 3.4%

Persulfates are used for different functions across various end-use industries. They are used as oxidizers, free radical generators, and chain initiators in polymer manufacturing. In the electronics industry, they are used as a cleaning agent and as an etchant. Persulfates are also used in the formulations of skincare and hair care products in the cosmetics & personal care industry. Other uses include as a cleaning agent in soil remediation and as a viscosity breaker for hydraulic fracturing in the oil & gas industry.


The global persulfates market size is estimated to grow from USD 730 million in 2020 to USD 861 million by 2025, at a CAGR of 3.4% from 2020 to 2025.

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The sodium persulfate segment is projected to lead the persulfate market

Sodium persulfate accounted for the largest share of the market in 2019. It is used as an initiator in manufacturing acrylonitrile butadiene styrene (ABS) and a substitute for ammonium persulfate in etching electronic substrates. Furthermore, it is one of the commonly used ingredients in cosmetic products. The growth of the cosmetics & personal care industry is expected to drive the demand for sodium persulfate globally.

The water treatment industry segment of the persulfates market is projected to grow at the highest CAGR

The water treatment industry segment is projected to grow at the highest CAGR. Persulfates are used as oxidizing agents in the treatment of water. The increasing environmental concerns and the rising number of government initiatives to treat water and wastewater are driving the consumption of persulfates in the water treatment industry.

The persulfates industry in the Asia Pacific is projected to grow at the highest CAGR between 2020 and 2025, where China is the largest consumer. The growth in the demand for polymers from the packaging and construction industries and the rising consumption of cosmetics & personal care products are expected to drive the market for persulfates in APAC.

Key companies profiled in the persulfates market research report include PeroxyChem (US), United Initiators (Germany), Mitsubishi Gas Chemical Company (Japan), Ak-Kim Kimya (Turkey), Adeka Corporation (Japan) and Fujian Zhanhua Chemical Company (China).

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