APAC is the largest foam plastics market, globally

Foam plastics are resins used in manufacturing polymer foams, which are used in various end-use industries such as building & construction, furniture & bedding, packaging, and automotive among others. The market size for Foam plastics is projected to grow from USD 51.6 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 4.8%. Foam plastics are largely used in building & construction, packaging, and furniture & bedding. The polyurethane segment is estimated to account for the largest share of the overall market due to its properties such as low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties.

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APAC is the leading market for foam plastics. The growth in the region is fueled by the booming economies of China, India, Indonesia, and Vietnam. PU resin based foams are preferred choice in the building & construction industry in APAC. It is in high demand, as it is a low-cost material that provides low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. APAC is a rapidly developing region with growth opportunities for companies willing to invest in high-growth markets.

Foam plastics are used to make foams used in the building & construction industry for forging, doors, roof board, and slabs. PU is the dominant resin used in the building & construction industry for insulation. It has low heat conduction coefficient, low density, low water absorption, and relatively good mechanical strength and insulating properties, which are helpful in the building & construction sector. The COVID-19 pandemic has affected various end-use industries, and almost all divisions of the supply chain continue to be affected, which also includes the construction industry. According to the National Association of Home Builders (NAHB), US, the GDP growth rate during the first two quarters is expected to be negative. This decline can be compared to the aftermath of the global performance of the 2008 Great Recession. However, the fourth quarter of 2020 is expected to be a rebound period.

The key players profiled in the foam plastics market report are BASF SE (Germany), Covestro (Germany), Huntsman International LLC (US), The Dow Chemical Company (US), and Wanhua Chemical Group Co., Ltd. (China).

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Growth in emerging economies drives the Black Masterbatches Market

The black masterbatches market is projected to reach USD 3.0 billion by 2026, at a CAGR of 4.4 % from USD 2.4 billion in 2021. Black masterbatch is manufactured from carbon black pigment. It typically contains 30.0%–50.0% carbon black. Based on the specific plastic product, the carrier of carbon black is decided. For instance, PS products use PS as the carrier of carbon black. Black masterbatch is used in different polymers such as polypropylene (PP), low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), polyurethane (PUR). Some of the important end-use industries of black masterbatch are packaging, infrastructure, automotive, electrical & electronics consumer goods, fibers, and agriculture.

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The growing industrialization in emerging economies, such as China, India, South Korea, Indonesia, Thailand, Taiwan, Mexico, Brazil, and Argentina, is expected to drive the black masterbatch market in the next five years. The high demand from the packaging, building & construction, consumer goods, automotive, and agriculture applications in these countries increase the need for black masterbatch, especially for plastics used in these applications. The implementation of government policies supporting the growth of industries, low labor costs, skilled workforce, availability of raw materials, and increasing urbanization have enabled domestic and foreign companies to establish their facilities in these countries. The growth of the manufacturing industry in Malaysia, Vietnam, Colombia, and Chile is also expected to fuel the market growth.

Automotive is the largest end-use industry of the black masterbatches market. APAC was the largest market for black masterbatches in 2020, in terms of both volume and value. Factors such as growing demand from packaging industry, rapid industrialization in growing economies like China, India & Thailand and increasing demand for plastic molds in electric vehicles will drive the black masterbatches market.

Europe is the second-largest black masterbatches market in the world. Key countries in the region include Germany, France, the UK, and Spain. As the market in Europe is mature, it is projected to grow at a lower CAGR during the next five years. Europe has always been a major black masterbatches market due to presence of developed automotive sector in the region. This market is more growing due to high demand of plastic molds in electric vehicles. Key countries such as Germany and France have shown promising demand for black masterbatches which is expected to continue in the near future.

Key players in this market are LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US). The global and regional players have sizable shares in the black masterbatch market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.

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Attractive Opportunities in the Foam plastics Market

Foam plastics are resins used in manufacturing polymer foams, which are used in various end-use industries such as building & construction, furniture & bedding, packaging, and automotive among others. The market size for Foam plastics is projected to grow from USD 51.6 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 4.8%. Foam plastics are largely used in building & construction, packaging, and furniture & bedding. The polyurethane segment is estimated to account for the largest share of the overall market due to its properties such as low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties.

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Building & construction segment accounted for the largest share of the foam plastics market in 2019
Foam plastics are used to make foams used in the building & construction industry for forging, doors, roof board, and slabs. PU is the dominant resin used in the building & construction industry for insulation. It has low heat conduction coefficient, low density, low water absorption, and relatively good mechanical strength and insulating properties, which are helpful in the building & construction sector. The COVID-19 pandemic has affected various end-use industries, and almost all divisions of the supply chain continue to be affected, which also includes the construction industry. According to the National Association of Home Builders (NAHB), US, the GDP growth rate during the first two quarters is expected to be negative. This decline can be compared to the aftermath of the global performance of the 2008 Great Recession. However, the fourth quarter of 2020 is expected to be a rebound period.

Recent Developments
In March 2019, BASF enhanced its regional innovation capabilities with new facilities at the Innovation Campus Shanghai to further strengthen collaboration with the automotive industry and to offer new process catalysts to the chemical industry. With an investment of approximately USD 38.0 million, the new 5,000-square-meter facility includes the Automotive Application Center and the Process Catalysis Research & Development (R&D) Center. One of the innovations includes polyurethane (PU) integral foam solutions with an open cell structure offering unique performance, which are light-weight and have excellent sound insulation and flame resistance.

APAC is the leading market for foam plastics. The growth in the region is fueled by the booming economies of China, India, Indonesia, and Vietnam. PU resin based foams are preferred choice in the building & construction industry in APAC. It is in high demand, as it is a low-cost material that provides low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. APAC is a rapidly developing region with growth opportunities for companies willing to invest in high-growth markets.

The key players profiled in the foam plastics market report are BASF SE (Germany), Covestro (Germany), Huntsman International LLC (US), The Dow Chemical Company (US), and Wanhua Chemical Group Co., Ltd. (China).

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The Key Development Strategies are Adopted by Leading Players for Boosting the Growth of the Composite Film Market

Composite films are used in a variety of end-use industries, including aerospace & defense, and automotive, among others. Led by strong end-user demand, the composite film industry is growing at a rapid pace. The global composite film market size is expected to grow from USD 245 million in 2020 to USD 328 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.

Over the past few years, companies have strengthened their position in the global composite film market by adopting strategies such as expansions, contracts, agreements, new product launches, and acquisitions. From 2015 to 2020, expansions and contracts have been the key strategies adopted by market players to maintain growth in the global composite film market. For instance, in July 2018, Solvay signed a contract with Airbus to supply advanced materials such as prepregs, resin systems, adhesives, and surfacing films, carbon fiber, textiles, tooling, etc. till 2025.

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 Major manufacturers profiled in this report include 3M(US), Henkel AG Co. KGaA(Germany), Hexcel Corporation(US), Gurit (Switzerland), Solvay(Belgium), Toray Industries, Inc. (Japan), Socomore(France), Park Aerospace Corp.(US), Axiom Materials Inc.(US), among others. These companies adopted various organic and inorganic growth strategies. For instance, in March 2018, Toray acquired TenCate Advanced Composites to accelerate the growth of advanced composites for both companies. This acquisition increased the demand for composite films and thus helped Toray sustain in the composite film market.

3M (US), Henkel AG Co. KGaA(Germany), Hexcel Corporation(US), Gurit (Switzerland), Solvay(Belgium) are major players in the composite film market. These companies are the largest growth contributors of the global composite film industry. These companies specialize in manufacturing composite films that have sustainable properties. For instance, Hexcel Corporation (US) specializes in manufacturing composite films, namely HexBond, for the composite film industry, globally.

Similarly, Solvay (Belgium) specializes in the manufacture of composite films for the composite film industry, globally. These companies are the key players present in the global composite film market and have a vast global presence.

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Building & construction is projected to be the largest end user of epoxy adhesives

The building & construction industry accounted for the largest share of the overall epoxy ahdesives market, in terms of volume, followed by the automotive industry. The building & construction industry started using epoxy adhesives with the increasing usage of composites, plastics, and other higher strength metals. Growing urbanization is fueling the growth of the construction sector, which is driving the 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%. Increasing urbanization and growing usage of composites, plastics, and other higher strength metals in the construction industry is driving the global epoxy adhesives market. Epoxy adhesives offer the ability to adhere strongly, with exceptional mechanical & electrical insulating properties and chemical and heat resistance.

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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.
In April 2019, Henkel opened a new OEM application center in Connecticut to deliver innovative solutions and design customized applications, technologies, and production processes to better serve its customers.

The epoxy adhesives market in the APAC region is projected to grow at the highest CAGR. The building and construction industry is contributing to the growing demand for epoxy adhesives in the region.The region is witnessing rapid urbanization and there is increasing government and private-sector investments in infrastructure development. This will boost the building & construction industry in countries such as India and China, which will fuel the demand for epoxy adhesives in the APAC region during the forecast period.

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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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Automotive Application to Dominate Flock Adhesive Market Between 2017 and 2022

The global flock adhesives market is projected to grow from USD 2.35 billion in 2017 to USD 3.18 billion by 2022, at a CAGR of 6.3% in terms of value. Factors driving the growing use of the flock adhesives market are the increasing demand for lightweight and low carbon emitting vehicles and high demand for flock adhesives from the Asia Pacific region.

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Automotive is one of the largest application areas of flock adhesives. Flock adhesives play an important role in improving the aesthetics and performance of automobiles. The growth of the flock adhesives market in the Asia Pacific region is mainly driven by China, which is experiencing substantial growth fueled by the rising investments in the infrastructure required for establishing manufacturing facilities of flock adhesives in the country.

The automotive segment will continue to represent the bulk of the demand for flock adhesives due to the increasing requirement for bonding dissimilar materials, substituting traditional materials with synthetic substrates, and increasing focus on reducing VOC emissions. From an engineering and design perspective, flock adhesives are valued because of their ability to bond dissimilar substrates, resist vibration, and distribute stresses over a wide area.

Technological advancements in the end-use industries are fueling the demand for flock adhesives in the North American and European markets. Less cure time and increased performance benefits offered by flock adhesives, such as high-performing seals, better adhesion to a variety of substrates, and resistance to chemicals & gas are boosting the market. For the past few years, energy prices in North America have increased, affecting end-user expenses. Therefore, the end users are more interested in new or different technologies and products that can help them counter the rising energy expenses. For instance, flock adhesives play a major role in reducing the weight of the vehicles, which results in energy conservation and subsequently in reducing energy expenses. This is a major factor which is driving the demand for flock adhesives and their technologies, especially the electrostatic technology that meets the energy efficiency requirements.

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Asia Pacific is the leader in terms of consumption of flock adhesives. Stringent environmental regulations to reduce the weight of automobiles, increasing demand for luxury products, and increasing screen printing in textile applications have led to the early adoption of flock adhesives in Asia Pacific. The market for flock adhesives is projected to register the highest CAGR in Asia Pacific in the next five years.

Polyurethane Additives Market by End-Use Industry (Automotive, Building & Construction, and Bedding & Furniture), and Region – Global Forecast to 2021

The Polyurethane Additives Market is projected to reach USD 2.75 billion by 2021, at a CAGR of 6.3%, in terms of value from 2016 to 2021. The polyurethane additives market is driven by increasing usage of polyurethane in the construction and automotive industries.The report includes analysis of the polyurethane additive market by region, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

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Building & construction expected to dominate the market for PU additive

The building & construction industry is projected to drive the polyurethane additive market, aided by increased demand for insulation applications for maintaining optimum temperature and reducing the energy cost. Automotive is another end-use industry where polyurethane is being used for vehicle interiors as well as exteriors. The use of polyurethane helps reduce the weight of vehicles and enhance fuel efficiency.

Polyurethane additives are used mainly in flexible foam, rigid foam, coatings, adhesives & sealants, elastomers, and binders. Flexible foams are primarily used in bedding & furniture, and automotive & transportation industries.

North America, Europe, Asia-Pacific, Middle East & Africa, and South America are considered the main regions in the polyurethane additives market report. Asia-Pacific region is dominant in the polyurethane additive market. The rising demand for polyurethane additives in this region is mainly driven by its increased use in building & construction industries. Europe is the second-largest consumer of polyurethane additives, globally. The market in this region is mainly driven by the growing opportunities from transportation and construction industries. The Middle East & Africa is the second-fastest-growing market, due to the increased demand for rigid foam for insulation purposes in the region.  

Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), and Huntsman International LLC (U.S.) are the leading companies operating in this market. These companies are expected to account for a significant market share in the near future. Entering into related industries and targeting new markets will enable polyurethane additive manufacturers to overcome the effects of the volatile economy, leading to the diversified business portfolio and increase revenue. The other main manufacturers of polyurethane additives are Tosoh Corporation (Japan), Albemarle Corporation (U.S.), Eastman Chemical Company (U.S.), Kao Corporation(Japan) ), Evonik Industries AG (Germany), Air Products and Chemicals, Inc. (U.S.), and Momentive Performance Materials Inc. (U.S.).

Expansions, new product launches, and partnerships were the key strategies adopted by industry players to achieve growth in the epoxy adhesives market

Expansions, new product launches, and partnerships were the key strategies adopted by industry players to achieve growth in the epoxy adhesives market between 2012 and 2016. The increasing demand for light weight vehicles, wind energy, and the shift in the construction business towards the construction of multi-storied buildings which use epoxy adhesives in glazing and panels, is leading to the rise in demand. Companies have adopted strategies such as, new product launches, expansions, and mergers & acquisitions to fulfill the growing demand. Some of the key players, such as Henkel AG & Co., KGaA (Germany), Huntsman Corporation (U.S.), 3M Company (U.S.), Ashland Inc. (U.S.), Sika A.G. (Switzerland), The Dow Chemical Company (U.S.), Lord Corporation (U.S.), Illinois Tool Works Inc. (U.S.), and Permabond LLC (U.S.), have adopted these strategies to strengthen their businesses, globally.

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Henkel AG & Co. KGaA is a major player in the global epoxy adhesives market. The company’s wide range of business segments provides an added advantage to the company’s profit margin, which enables the company to compensate the loss from low performing business segments and invest in strategic expansions and R&D activities. The adhesive technology business segment of the company accounted for 50% of its total revenue in 2015. The company follows the capacity expansions strategy to support the growing demand, improve product cost competitiveness, and the product portfolio by investing in R&D activities in new applications to cater to the market. Recently in October 2016, the company launched Loctite EA 9452, a new high-performance 2-part epoxy adhesive. This product launch helped the company in entering into the filtration industry.  

3M Company is another major player in the global epoxy adhesives market. North America accounted for 64% of the overall company revenue. The industrial and consumer business segment of the company manufactures adhesives & sealant products for various applications. These business segments together earned about 47% of its total revenue in 2015. The company’s business strategy mainly revolves around its targets for increasing its global footprint, increasing revenues, and launching innovative solutions through its products. As a part of its growth strategy, the company plans to establish new production facilities and expand its existing plant capacities which would enable the company to strengthen its position in the high growth epoxy adhesives market. In September 2012, 3M expanded its epoxy adhesives product line by adding the Scotch Weld EPX DP810, and DP110 products. These products provide long-term reliability for heavy-duty applications including aerospace, appliances, sporting goods, and electronics.

Apart from the above mentioned market players, H.B. Fuller (U.S.), MasterBond (U.S.), Royal Adhesives & Sealants (U.S.), and Threebond Co. Ltd. (Japan), are the other important players in this market.

Expansions and acquisitions are the key growth strategies adopted of Microcellular Polyurethane Foam Market

The global microcellular polyurethane foam market is dominated by few key players such as BASF SE (Germany), The Dow Chemical Company (U.S.), Huntsman Corporation (U.S.), Rogers Corporation (U.S.), and Evonik Industries (Germany, among others. These companies are considered as leaders in the rapidly evolving market.

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Substantial investments have been made in the past few years by key companies such as BASF SE (Germany), The Dow Chemical Company (U.S.), and Rogers Corporation (U.S.) to address the future demand of microcellular polyurethane foam arising from the growing end use industries. Key players operating in the market are majorly focused on acquisitions and expansions for capacity expansion of existing facilities and installation of new facilities to achieve better performance qualities, economies of scale, product innovation, and to simultaneously address the increasing demand of microcellular polyurethane foam. BASF SE made investments in its existing facility at Pudong site, which was established in 2011. The new investment project included the expansion of the Cellasto Asia Pacific Technical Center, the establishment of three new production lines, and the technical improvement of existing facilities. The production capacity was estimated to double after the project’s completion in 2015.

Expansions and acquisitions are the key growth strategies adopted by the major players in the recent past. For instance, Rogers Corporation acquired a custom molding machine from PolyWorks Corporation (North Smithfield, Rhode Island) and a license to utilize PolyWorks’ technology for the molding of Poron formulations. This manufacturing facility was installed in Rogers-’ Suzhou, China manufacturing campus by mid-2011 in order to serve its global customers.

Apart from expansions and acquisitions, companies also made investments in the global market. This strategy accounted for 17% of the share out of the total developments in the microcellular polyurethane foam market between 2010 and 2015.  BASF built the world’s biggest single-train production plant for TDI in Europe. The plant has an annual capacity of 300,000 metric tons. The total investment including the precursor is over USD 1.23 billion. The TDI plant is located at Ludwigshafen site, Germany. TDI (toluene diisocyanate) is a key component for the polyurethane industry. A large proportion of it is used in the automotive industry for items, such as seat upholstery and interior linings, and in the furniture industry for flexible foams in mattresses & upholstery and wood coatings.

Related Reports:

Microcellular Polyurethane Foam Market by Type (Low Density Foam, High Density Foam), Application (Automotive, Building & Construction, Electronics, Medical, Aerospace, Others), Region (North America, Europe, APAC, MEA, RoW) – Global Forecast to 2021

LTCC Market and HTCC Market- Global Opportunity, Analysis, and Outlook up to 2024

LTCC Market and HTCC Market are expected to grow from USD 916 million in 2019 to USD 1.1 billion by 2024, at a CAGR of 4.5% during the forecast period. The market is witnessing significant growth because of the growing demand from various end-use industries such as aerospace & defense, automotive, and telecommunications. Co-fired ceramic has good mechanical properties, such as excellent physical, chemical inactivity, hermicity, and high thermal stability properties.

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LTCC process type is the fastest-growing segment in the overall market.

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.

Glass-ceramic material type is the fastest-growing segment in the overall market.

Co-fired ceramic is available in two material types, namely, glass-ceramic and ceramic. Glass-ceramic material is expected to register the highest CAGR during the forecast period as it can use noble metals such as gold, silver, and platinum for metallization on its layer.

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.

Key Questions Addressed by the Report

• Which are the major end-use industries of co-fired ceramic?
• Which process type is majorly used in co-fired ceramic?
• Which material type is majorly used in co-fired ceramic?
• Which largest and fastest-growing regional LTCC market and HTCC market?
• What are the major strategies adopted by leading market players?

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Bioplastics & Biopolymers Market by End-use Industry (Packaging, Consumer Goods, Automotive, Textiles, Agriculture)- Trends & Forecast to 2023

The Bioplastics & Biopolymers market is projected to grow from USD 6.95 billion in 2018 to USD 14.92 billion by 2023, at a CAGR of 16.5% from 2018 to 2023. Increasing demand for bioplastics from the packaging industry, favorable government policies, increase in waste management regulations in Europe, and increasing concern for human health are projected to drive the bioplastics & biopolymers market. Increase in regulations is expected to propel the growth rate of the market.

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Packaging is the largest end-use industry for bioplastics & biopolymers. The need for sustainable solutions has encompassed several industry verticals, including food & beverage. In addition, enhanced industrial & manufacturing technologies have enabled the food & beverage companies to incorporate bioplastics in packaging. The demand for packaging made from bioplastics for wrapping organic food as well as for premium and branded products is on the rise. Preference for packaging materials made from natural or organic polymers, derived from biomass sources, such as fats, oils, starch, and microbiota, is driving the market in the packaging end-use industry.

Packaging

Packaging protects goods during distribution, transportation, storage, and use. It is indispensable for preserving and moving goods, which cater to various sectors such as retail, institutional, and industrial. Change in the lifestyle of consumers has triggered the importance of polymer and use of packaging products, as they provide protection and containment. The packaging industry uses different materials such as glass, metals, wood, and polymers for packaging different types of products. Plastic constitutes 40.0% of the packaging materials. Properties of plastics such as high durability, plasticity, and impermeability to water have encouraged their use. However, increasing environmental regulations have restrained the use of conventional polymers, especially carry bags and packages, which is driving the demand for bioplastics & biopolymers. Packaging applications of bioplastics & biopolymers include food packaging, pharmaceutical packaging, cosmetics packaging, and shopping bags.

Procter & Gamble and Johnson & Johnson use bio-PE for packaging various kinds of cosmetic products. PLA is widely used owing to its high recyclability. The increasing demand for eco-friendly packaging made from bio-based polymers is driving the demand for products such as PLA, PHA, and starch-based polymers in different applications.

Consumer goods

Bioplastics & biopolymers have a wide variety of applications in consumer products and can be used in casings, circuit boards, touchscreen computer casings, loudspeakers, keyboard elements, mobile casings, vacuum cleaners, and mouse for laptops.

SUPLA has developed optimized PLA for the electronics industry. Similarly, the world’s first bioplastic touchscreen computer was developed in collaboration with a Taiwanese OEM/ODM, Kuender. The PLA blends used in the monitor screens also bring improved impact resistance; excellent high gloss finish; and stable and precise processing.

Europe is the largest bioplastics & biopolymers market and is one of the major producers of plastics. It leads in the packaging end-use industry, which dominates the bioplastics & biopolymers market. These factors have been responsible for the development of bio-based plastics with collaborative research, which, in turn, is expected to transform Europe’s plastics industry. The political and economic conditions have also driven the market penetration of bioplastics & biopolymers. The EU Commission has focused on the Lead Markets Initiative, where bioplastics have been identified as one of the most important potential markets. Europe has, thus, become one of the major consumers of bioplastics & biopolymers.

Key players profiled in this report include NatureWorks (US), Braskem (Brazil), Novamont (Italy), BASF (Germany), Total Corbion PLA (Netherlands), Biome Bioplastics (UK), Bio-On (Italy), Toray Industries (Japan), Plantic Technologies (Australia), and Mitsubishi Chemical Corporation (Japan).

BASF SE (Germany) and Asahi Kasei Corporation (Japan) are the Major Players in the Glass Filled Nylon Market

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% between 2019 and 2024. The superior properties offered by glass filled nylon and the growing automotive industry are majorly driving the market.

The major glass filled nylon manufacturers are 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 Industries (US) and Ascend Performance Materials (US). These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. Acquisition was the dominant strategies adopted by the major players, between 2014 and 2019, which helped them to offer innovate products and broaden their customer base.

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BASF SE has secured a strong position in the European market. It is also establishing its presence in Latin America and the MEA and is now focusing on APAC. The company is a strong market player in the functional materials & solutions business segment. It has a strong focus on R&D and has acquired Solvay’s global polyamide business. This has helped the company to maintain its market position and expand its glass filled nylon business.

Asahi Kasei Corporation has a prominent presence in the glass filled nylon market. The company has a strong brand image, and it caters to the growing demand for glass filled nylon, particularly from the automotive application. It opted inorganic growth strategy through the acquisition of Sage Automotive Interiors, Inc. (US). This will increase the glass filled nylon market, as automotive is a key end-use industry of glass filled nylon. The company mainly focuses on R&D activities to maintain its comprehensive portfolio of glass filled nylon products that have significant growth potential.

Related Reports:

Glass Filled Nylon Market by Type (Polyamide 6, Polyamide 66),End Use Industry(Automotive, Electrical & Electronics, Industrial), Manufacturing Process(Injection Molding, Extrusion Molding), Glass Filling and Region Global Forecast to 2024

Market Leaders - Bioplastics & Biopolymers Market

The market size of bioplastics & biopolymers is estimated at USD 6.95 billion in 2018 and is projected to reach USD 14.92 billion by 2023, at a CAGR of 16.5% from 2018 to 2023.Increasing use of bioplastics in the packaging industry, increase in waste management regulations in Europe, favorable government policies, increased focus on bio-based content rather than biodegradability, and growing concerns for human health are expected to drive the demand for bioplastics & biopolymers market during the forecast period.

The key players in the market include NatureWorks (US), Braskem (Brazil), Novamont (Italy), BASF (Germany), Total Corbion PLA (Netherlands), Biome Bioplastics (UK), Bio-On (Italy), Toray Industries (Japan), Plantic Technologies (Australia), and Mitsubishi Chemical Corporation (Japan). The bioplastics & biopolymers market report analyzes the key growth strategies adopted by leading market players, between 2014 and 2018, which include investment & expansion, new product launch, agreement, partnership & joint venture, and merger & acquisition.

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NatureWorks is a major manufacturer of bioplastics & biopolymers. The company manufactures biodegradable biopolymers derived from renewable resources. The company offers Ingeo biopolymer, which is used in 3D printing, beauty and household, building & construction, food & beverage packaging, medical & hygiene, and other applications. The company has established a strong foothold in the bioplastics & biopolymers market through investments & expansions, joint ventures, and new product launches. In June 2017, NatureWorks signed a contract to license Plaxica’s Optipure chemical processing technology for the production of D-lactic acid. This helped the company produce D-lactic acid at lower cost, for a further range of performance Ingeo PLA grades. This investment is a long-term strategy of the company to lead the market with cost-effective, functional biopolymers.

Braskem has majorly adopted new product launches, agreement & partnerships & joint ventures strategies to grow in the bioplastics & biopolymers market. In August 2018, Braskem launched a new sustainable PET food packaging initiative utilizing Braskems product, sugarcane I’m green biopolymer. Natural PET is expected to use 30.0% bioplastic packaging material into every bag in Mindful Meals dry dog food. This development is expected to help meet the demand for bioplastics & biopolymers, globally. In September 2018, Braskem and UNITED CAPS collaborated to deliver green bio-sourced plastic caps and closures. These products would be made from sugarcane as an addition to the UNITED CAPS product portfolio. This collaboration is expected to enable the delivery of more environmentally sustainable greener closure solutions to the caps and closure market, thereby strengthening the foothold of Braskem in the bioplastics & biopolymers market.

Related Reports:

Bioplastics & Biopolymers Market by Type ( Non-biodegradable, Biodegradable), End-use Industry (Packaging, Consumer Goods, Automotive, Textiles, Agriculture) and Region (APAC, North America, Europe, and RoW) – Trends & Forecast to 2023

Top 10 Plastics Market worth 586.24 Billion USD by 2021

The report “Top 10 Plastics Market by Type (Polyethylene, Polypropylene, Expanded Polystyrene, Polyethylene Terephthalate, Polyvinyl Chloride), Application (Automotive, Building & Construction, Packaging, Electronics & Consumer, Textile) – Global Forecast to 2021″, 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%.

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This progress is fueled by the growth in key end-use industries, such as automotive, building & construction, packaging, electrical & electronics, and construction; substitution of metal-based products with various plastic materials; and rising disposable income of middle class in emerging economies.

Polyethylene (PE): The largest type segment of the top 10 plastics market

Polyethylene is the largest type segment of the global top 10 plastics market, followed by the polypropylene segment. The high demand for polyethylene is mainly due to its effective and substantial usage in consumer products, especially in packaging materials. Properties, such as flexibility, thermal & electrical insulation, and chemical & thermal resistivity, make its usage widespread in applications such as packaging, construction, electrical, electronics, automotive, and so on. Polyethylene is also lightweight, easy to manufacture, and easily available, which further boost its demand in the aforementioned applications.

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

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.

Asia-Pacific: The largest market for top 10 plastics

The Asia-Pacific region was the largest market for top 10 plastics, in terms of value and volume, in 2015. The steady growth in construction spending of countries this region, such as India, Vietnam, Indonesia, and Thailand, has led to increased investments in industrial and public infrastructure where plastics products are widely used. The extensive use plastics in electronics & consumer products and automotive applications and the growing preference of people for urbanized lifestyle are also key factors responsible for making Asia-Pacific the largest market for the top 10 plastics.

The Dow Chemical Company (U.S.), ExxonMobil Chemical Company, Inc. (U.S.), and SABIC (Saudi Arabia) are the most important players in the global top 10 plastics market. These companies witnessed the highest strategy adoptions in the market, and accounted for the largest share of the overall activities from 2011 to 2016.

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Microporous Insulation Market worth $165 million by 2023

The report “Microporous Insulation Market by Product Type (Rigid boards & panels, flexible panels, machined parts, moldable products), Application (Industrial, Energy & Power, Oil & Gas, Aerospace & Defense, Automotive), and Region – Global Forecast to 2023″ The microporous insulation market size is projected to reach USD 165 million by 2023, at a CAGR of 4.7%, from an estimated USD 132 million, in 2018.

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The flexible panels product type segment of the market is projected to register the highest CAGR, in terms of value, during the forecast period.

 The flexible panels product type segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is because flexible panels exhibit excellent dimensional stability and improved mechanical resistance against vibration and impact. They are energy-efficient and can be conveniently handled and transported. In addition, its growing demand from various applications, such as pipelines in the oil & gas sector; fuel cells in energy & power sector; filler materials in heat shield in the aerospace & defense sector; passive fire protection; vessel & reactors in the industrial sector; and others.

The aerospace & defense application segment of the microporous insulation market is projected to register the highest CAGR, in terms of value, between 2018 and 2023.

 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.  

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Asia Pacific is projected to register the highest CAGR, in terms of value, in the microporous insulation market, between 2018 and 2023.

The microporous insulation market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR, in terms of value, during the forecast period. The growth of the microporous insulation market in the region is attributed to the rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the region. In addition, increase in the demand for energy, power, metal, and automobiles is also expected to drive the market.

The key players in the microporous insulation market include Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Ltd. (China), Guangzhou Huineng Environmental Protection Materials Co., Ltd. (SILTHERM) (China), Johns Manville (US), Nichias Corporation (Japan), ThermoDyne (US), Unifrax (US), and Elmelin Ltd. (UK).  

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