Non-Biodegradable Plastics to Lead Bioplastics & Biopolymers Market During Forecast Period

In recent years, there has been a growing awareness that the use of non-biodegradable plastics is leading to large amounts of plastic waste accumulating in landfills and oceans. Recognizing the need to find new ways to recycle and reduce the use of these harmful materials, researchers have been working on finding alternatives to conventional plastics.

In this article, we will explore three types of non-biodegradable plastics that are being studied as potential replacements for traditional plastic materials. We will also discuss some of the benefits and drawbacks of each type of plastic, and suggest ways in which you can start using them in your own life.

BIO-PET TO DOMINATE NON-BIODEGRADABLE BIOPLASTICS & BIOPOLYMERS MARKET BETWEEN 2020 AND 2025

Bio-PET is the future of non-biodegradable plastics and this is why investors and businesses should start taking notice.

Bio-PET is made of renewable resources such as vegetable oils and corn starchy products. This makes it a more sustainable product than traditional plastics. Bio-PET also has high thermal stability and good chemical resistance. This means that it can be used in a variety of applications, from food packaging to consumer goods.

As the market for non-biodegradable plastics continues to grow, Bio-PET is poised to become the dominant player. It has many advantages over traditional plastic materials, making it a viable option for businesses and investors looking to make a sustainable impact.

What are Non-Biodegradable plastics?

Non-biodegradable plastics are made of materials that cannot be broken down by natural processes like bacteria, fungi, or oxidation. This means that these plastics can stay in the environment for a long time, potentially polluting water supplies and creating environmental problems. Some people argue that non-biodegradable plastics are a bigger problem than biodegradable plastics because they can take up more space in landfills and cause more environmental damage.

The Problem with Non-Biodegradable Plastics

Non-biodegradable plastics are posing a serious environmental problem. These materials can take hundreds or even thousands of years to break down in the environment, potentially harming wildlife and waterways.

There are many types of non-biodegradable plastics, but the most common ones include polyethylene, polypropylene, and PVC. These materials are often used in products like furniture, packaging, and toys.

When these plastics are used in large quantities, they can cause major problems. For example, when polyethylene is burned, it creates greenhouse gases that contribute to climate change. And when polypropylene is dumped into waterways, it can create toxic pollutants that harm fish and other aquatic life.

It’s important to use biodegradable alternatives whenever possible. But we can’t rely on manufacturers to make the switch on their own. We need to demand that they do it, and we need to make sure that our government is doing its part as well.

To know about the assumptions considered for the study download the pdf brochure

Ways to Reduce our Use of Non-Biodegradable Plastics

There are many ways to reduce our use of non-biodegradable plastics. Here are a few suggestions:

1. Use biodegradable materials whenever possible.

2. Use biodegradable packaging when necessary.

3. Recycle biodegradable materials when possible.

4. Educate yourself and others about the benefits of using biodegradable materials.

Alternatives to Non-Biodegradable Plastics

Non-biodegradable plastics are a growing problem. They take up space in landfills and are damaging to the environment. There are many alternatives to non-biodegradable plastics that are environmentally friendly.

Some alternatives to non-biodegradable plastics include:

- compostable materials

- recycled materials

- bioplastics

- natural materials

Conclusion

The world is quickly moving away from non-biodegradable plastics and towards biodegradable plastics. This is due to the many negative effects that non-biodegradable plastics have on the environment, including harming marine life, releasing harmful chemicals into our air and water supplies, and contributing to climate change. Bioplastics are made from renewable resources like plant materials or biomass, which means they can be decomposed by natural processes over time.

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What Does The Global Polylactic Acid Market Industry Analysis Look Like

The global polylactic acid market is projected to reach $43.7 billion by 2024, growing at a CAGR of 5.2% from 2018. The industry is characterized by the presence of major players in North America and Europe with the Asia-Pacific region being a lucrative growth market for this market.

What is Polylactic Acid?

Polylactic acid (PLA) is a biodegradable plastic derived from lactic acid.
PLA is often used in the production of food packaging, including single-serve containers for drinks and food, as well as films and foams.
The global PLA market was valued at XX million in 2016 and is expected to reach XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
Some of the key reasons for the growth in the PLA market include increasing awareness about the environmental benefits associated with using PLA products, increasing concerns about plastic wastefulness, and advancements in technology that enable more efficient production of PLA products.

What are the Market Growth Factors?

Polylactic acid (PLA) is a biodegradable plastic made from renewable resources such as cornstarch and sugarcane. PLA products are used in a wide range of applications such as food packaging, automotive parts, medical devices, and furniture. The global PLA market is expected to grow at a CAGR of 7.2% during 2016-2021.

The main drivers of the PLA market include increasing awareness about the benefits of PLA products and increasing demand for bioplastic products due to their environmental friendliness. Increasing awareness about the benefits of PLA products has led to an increase in the demand for bioplastic products. Furthermore, the growing population and growing concern about climate change are some other factors that are expected to drive the market growth over the forecast period.

Some of the key players in the global PLA market include BASF SE (Germany), Mitsubishi Chemical Corporation (Japan), Akzo Nobel N.V. (The Netherlands),DuPont Dow Elastomers LLC (US), and Novozymes A/S (Denmark).

To know about the assumptions considered for the study download the pdf brochure

What Are The Key Markets for Polylactic Acid?

The global polylactic acid (PLA) market is expected to grow at a CAGR of 7.2% from 2017 to 2022, according to a report by Grand View Research, Inc. The market is projected to reach $4.48 billion by 2022.

The key markets for PLA are Asia-Pacific, North America, Europe, and Latin America. Asia-Pacific is the leading region in terms of revenue and is expected to grow at the highest rate during the forecast period. This is due to the increasing demand for biodegradable products in this region. North America is expected to be the second largest market for PLA, due to the increasing demand for sustainable products. European countries are also expected to exhibit growth in the market for PLA due to increased awareness about environmental concerns and growing trend of using bioplastic alternatives. Latin American countries are projected to grow at a high rate due to rising implementation of green infrastructure initiatives.

Some of the major players in the global polylactic acid market include BASF SE (Germany), The Dow Chemical Company (U.S.), Mitsubishi Chemical Corporation (Japan), Rohm and Haas Company (U.S.), and AkzoNobel N

How Does The Global Polylactic Acid Industry Compare to Other Industries?

Polylactic acid (PLA) is a biodegradable and renewable polymer derived from renewable resources. It has many industrial applications, including advanced composites, food packaging, and new medical devices.
PLA is produced from renewable resources such as cornstarch or sugarcane molasses. The global market for PLA was valued at $1.5 billion in 2016 and is expected to grow at a CAGR of 7% over the forecast period 2018-2024.

A key factor driving the growth of the PLA market is its increasing adoption in emerging economies due to its low environmental impact and sustainability benefits. China is the largest producer and consumer of PLA, accounting for more than two-thirds of the market volume. Other leading producers are United States, Brazil, and Germany.

The key players in the global PLA market include BASF SE (Germany), Eastman Chemical Company (US), Archer Daniels Midland Company (US), SABIC Innovative Plastics (Saudi Arabia), CRISPR Therapeutics LLC (US), and Mitsubishi Chemical Corporation (Japan).

Impact of Raw Material Price Fluctuations on Polylactic Acid Industry

Polylactic acid (PLA) is a biodegradable polymer that has been gaining attention in the market owing to its numerous benefits such as low environmental impact, flexibility, and low cost. PLA is derived from renewable resources such as corn or sugarcane and has the potential to replace petroleum-based plastics.

The global polylactic acid market is expected to grow at a CAGR of around 7.5% during the forecast period 2016-2021. This growth can be attributed to increasing demand from end-use industries such as automotive, food packaging, and construction. The increasing awareness about the benefits of using PLA has led to an increase in its production.

There are several factors that could affect the market growth of PLA. These include raw material price fluctuations, which could result in a decrease in demand for the product, or an increase in its cost. Additionally, regulatory changes could also have a negative impact on the market.

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Polylactic Acid (PLA) Market Opportunity: Development of new application

The global PLA market size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026. The major factors driving the market are rising demand of PLA in packaging industry, stringent waste management regulations in Europe, increased focus of government on green procurement policies, and shift in consumer preference toward eco-friendly and biodegradable plastic products. Moreover, development of new applications, high potential in emerging countries of APAC, and multi-functionalities of PLA is expected to drive the market during the forecast period.

To know about the assumptions considered for the study download the pdf brochure

With the increasing focus on sustainability and favorable government regulations for green procurement policies, PLA manufacturers have significant opportunities in new end-use industries such as electronics, biomedical, and automotive. Manufacturers are investing heavily in R&D activities for the use of PLA in various applications in the medical industry, such as stitching materials, screws, and implants. PLA is used for manufacturing medical devices & equipment. It is used in tires with starch-based materials in the automotive industry to reduce fuel consumption. They are also used for making electrical equipment more efficient and cost-effective. The packaging application is also expected to witness significant growth. PLA films have an extensive application in the agriculture industry. PLA is a highly demanded biodegradable plastic material and is used in making trays, cutleries, and cups in the food industry.

Europe is expected to be the largest market for PLA during the forecast period.

The packaging industry is the largest end-use industry of PLA in Europe. The political and economic conditions have also driven the market penetration of PLA. The EU Commission has focused on the Lead Markets Initiative, where PLA has been identified as one of the most important potential markets. The strict government norms and economic conditions have also driven the PLA market. These factors have been responsible for the development of PLA with collaborative research in the region.

The key players in this market are Natureworks LLC (US), Total Corbion PLA (Netherlands), BASFSE (Germany), Cofco (China), Futerro (Belgium), Danimer Scientific (US), Toray Industries Inc. (Japan), Evonik Industries (Germany), Mitsubishi Chemical Corporation (Japan), and Unitika Ltd. (Japan).

Recent Developments

• In October 2021, Total Corbion PLA launched recycled PLA range under the brand name Luminy rPLA, which is derived from post-industrial and post-consumer PLA waste. The new product is a chemically recycled product with similar characteristics as the existing Luminy PLA product.
• In April 2021, NatureWorks LLC developed a new PLA grade Ingeo 3D700. The new material is ideal for large-format additive manufacturing, along with the reduction in warping and print failures. Ingeo 3D700 is specially designed for 3D printing, having performance characteristics such as precise detail, good adhesion, reduced warping or curling, and low odor while printing.
• In November 2021, Danimer Scientific and Total Corbion PLA collaborated to manufacture biodegradable PLA. The collaboration will support the production of custom-built resin to meet the customers’ requirements for biodegradable and functional aspects of the products.

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Emerson Electric Co. (US) and Carrier (US), Danfoss (Denmark) are the Major Players in the Condensing Unit Market

The condensing unit market is projected to grow from USD 39.0 billion in 2022 to USD 57.1 billion by 2027, at a CAGR of 7.9% from 2022 to 2027. Condensing units are used in applications where there is a need to control the temperature, such as heat pumps, chillers, air conditioners, and refrigerators, among others.

The markets growth can be attributed to increasing demand for the storage of convenience products, such as packaged foods, dairy products, etc. Also, the growth was further propelled by the rise in demand for condensing units from supermarkets and organized retail food chains.

To know about the assumptions considered for the study download the pdf brochure

Emerson Electric Co. (US), Carrier (US), Danfoss (Denmark), GEA Group Aktiengesellschaft (Germany), Heatcraft Refrigeration Products LLC (US), BITZER SE (Germany), are some of the major players in the condensing unit market. These companies have adopted product launches, investments, acquisitions, agreements, contracts, partnerships, and expansions as growth strategies to enhance their position in the condensing unit market.

In January 2022, Emerson Electric Co. Emerson launched a major part of condensing unit named Copeland ZPK7 single (fixed) speed scroll compressors for residential and light commercial HVAC applications. The new ZPK7 fixed-speed scroll compressor platform is now tuned for R410A refrigerant and offers improved performance at the SEER2 B rating point condition as well as critical HSPF2 part-load operating conditions.

The new product launch further strengthens the position of Emerson Electric Co. in the condensing unit market in the US.

In February 2020, Danfoss introduced a new product, Optyma iCO2, which is an outdoor CO2 condensing unit. It has a cooling capacity of 1.5 to 4.7kW (0.43 to 1.3TR) and is a plug-and-play stackable solution for medium-temperature applications such as in display cabinets, and to refrigerate cold rooms. The new product launch helped the company target a new segment of convenience stores with limited indoor space.

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Cardolite Company(U.S.A) and Pelmer International(U.S.A) are leading players in Cashew Nutshell Liquid Market

The CNSL market size is estimated to be USD 393 million in 2022 and is projected to reach USD 564 million by 2027, at a CAGR of 7.5% between 2022 and 2027. Increasing demand from the chemical and petrochemical industries, the rising demand for natural resources for various applications are significantly driving the market globally.

The CNSL market in Europe is segmented into Germany, France, the UK, Italy, the Netherlands, and Rest of Europe. The chemical industry is a significant part of the region’s economy. The growth is driven by investments made in this region by global chemical companies. Though the steady European economic recovery is expected to drive the market, the adoption of several strict regulations against the use of petroleum-based products is likely to challenge the market growth in the region.

To know about the assumptions considered for the study download the pdf brochure

The key market players are cardolite company(U.S.A), pelmer international(U.S.A), senesel(Poland), sri devi group(India).

Cardolite Corporation is a manufacturer of CNSL-based products used in coatings, friction materials, adhesives, composites, and foams. The company is the leader in the production of quality CNSL-based materials. Cardolite delivers high-quality products and services across the globe and has sales offices, representatives, and distribution facilities in the Americas, Europe, and Asia.

Palmer International is a global leader in CNSL technology. The company provides polyols, chemicals, friction particles, and resins to automotive, transport, construction, and other industries worldwide. It is the world’s oldest producer of cashew derivatives and a leader in developing OEM friction particles. The company is the worlds leading producer of cashew-manic polyols and epoxy hardener chemistry.

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Growth of the geosynthetics market can be attributed to increasing investments in waste management in emerging economies

The global geosynthetics market is projected to reach USD 13.2 billion by 2026 from USD 9.9 billion in 2021, at a CAGR of 6.0% between 2021 and 2026.

Rapidly increasing population and urbanization is contributing in increasing levels of solid and liquid wastes across the globe. Rising environmental awareness is leading to an increase in the demand for appropriate waste and water management projects. Geosynthetics are used as landfill caps to prevent the migration of fluids into landfills by reducing or eliminating the post-closure generation of leachate and associated treatment costs. Geosynthetics are widely used in various water management activities owing to the increasing public concerns in serious and widespread water pollution. Geosynthetics liner systems are used in waste treatment lagoons at wastewater treatment plants to protect water resources including lakes, rivers, ponds, aquifers, and reservoirs which is expected to boost the demand for geosynthetics during the forecast period.

To know about the assumptions considered for the study download the pdf brochure

Waste management contributes for the largest market share for the geosynthetics market in 2020. Geosynthetics are used in waste management for performing various functions such as filtration, separation, drainage, barrier, and reinforcement. It includes the proper collection, transport, treatment, recycling, and disposal of residential, industrial, and commercial waste. Geosynthetics are essential for controlling the leakage of contaminated gas and liquid into groundwater, rivers, aquifers, and other freshwater sources. The rising demand for waste management owing to increase in population, urbanization, and industrialization is expected to drive the geosynthetics market during the forecast period.

Geosynthetics market is dominated by APAC in 2020. The region is growing at a faster rate which accounts for the high growth of the geosynthetics market. The emerging market of India, China, and other countries of the APAC are growing and boosting the regional market growth. Rapidly increasing population, urbanization, and industrialization are expected to drive the geosynthetics market in APAC. Rising investment In the development of public infrastructure and growing demand for solid waste management system are the major factors driving the geosynthetics demand in the region.

Key players in the geosynthetics market are SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri Spa ( Italy), Berry Global Inc ( US), and Agru America, Inc ( US) are the major players in the market.

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Increasing Healthcare sector in emerging markets is driving the Medical Adhesive Tapes Market

The global medical adhesive tapes market is estimated at USD 8.6 billion in 2021 and is projected to reach USD 11.5 billion by 2026, at a CAGR of 6.1% between 2021 and 2026. The drivers of market growth are identified as the rising number of surgeries, increasing incidence of diabetes, and the growing number of ambulatory surgery centers.

Emerging markets such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities to players operating in the medical adhesive tapes market. This can primarily be attributed to the improved healthcare sector in these emerging countries. The availability of high-quality surgical treatments at lower costs is the key factor enabling patients to shift to these countries for undergoing elective surgeries.

To know about the assumptions considered for the study download the pdf brochure

The increasing number of cosmetic surgeries and developing healthcare infrastructure in emerging countries are the other major factors expected to offer growth opportunities to the market players. To leverage the high growth opportunities for medical adhesive tapes in the emerging markets, manufacturers are strategically focusing on expanding their presence in China, India, Brazil, and Mexico.

Regulatory policies in the Asia-Pacific region are more adaptive and business-friendly due to the less stringent regulations and data requirements. The increasing competition in the mature markets will further compel the manufacturers of medical adhesive tapes to focus on emerging markets.

Paper is the fastest-growing segment of the market

Paper is a widely used backing material that adheres lightly to an individuals skin. It is most widely used for people (adults and infants) with sensitive skin. These are widely used for applications such as dressing and fixation of tubes. These tapes provide excellent comfort compared to the fabric medical adhesive tapes. Hence, they find significant applications in cases involving elderly patients. These tapes are also preferred in cases involving frequent redressing of wounds. The paper backing material is eco-friendly; it can be easily recycled and re-pulped. Therefore, it is a good choice in regions with stringent environmental regulations, such as Europe and North America. The increasing awareness about adhesive tapes in different end-use industries has led tape manufacturers to focus on products that can replace other fastening systems.

These factors have increased the demand for low-cost backing material such as paper for manufacturing tapes, majorly in South American and Asia Pacific countries such as India, South Korea, China, and Indonesia.

Asia Pacific is projected to be the fastest-growing market for medical adhesive tapes

The Asia Pacific is projected to be the fastest-growing market for medical adhesive tapes, in terms of value, due to the improving healthcare services and the rising level of income in this region. The rising population of the region, along with high disposable income and improved healthcare activities in this region, is driving the medical adhesive tapes market. Nitto Denko Corporation (Japan) and Nichiban Co., Ltd. (Japan) are the important players in this region. The manufacturing sector in Asia Pacific (excluding Japan), especially consumer products, is growing rapidly. Moreover, various new production facilities in the region, both export-oriented and domestic, utilize the latest manufacturing processes which are designed to use medical adhesive tapes instead of traditional mechanical fastening equipment.

China is a hub for assembling industrial products, majorly because of low labor costs. Fueled by booming economies such as China, India, and other countries in the Asia Pacific region, the medical adhesive tapes market is growing at a strong pace.

Major vendors in the medical adhesive tapes market include 3M company (US), Medtronic PLC (US), Medline Industries (US), Avery Dennison Corporation (US), Johnson & Johnson (US), Smith & Nephew plc (United Kingdom), Nichiban (Japan), Paul Hartmann AG (Germany), Nitto Denko Corporation (Japan) and Scapa Group PLC (United Kingdom).

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COVID-19 Impact on Global Fluoropolymer Tubing Market

The global fluoropolymer tubing market size is projected to grow from USD 513 million in 2021 to USD 662 million by 2026, at a CAGR of 5.2% between 2021 and 2026. Fluoropolymer tubes are extrusions made of inert materials. These tubes have exceptional versatility and a set of unique properties. Various types of fluoropolymer provide different advantages in the applications they are used in. Fluoropolymer tubes exhibit high tensile strength, exceptional chemical & friction resistance, and a high range of workable temperature, among other properties. They are used in industries such as medical, semiconductor, energy, fluid management, chemical processing, general industrial, automotive, and aerospace. Growing geriatric population, increasing use in end-use industries ultimately drives the fluoropolymer tubing market globally.

To know about the assumptions considered for the study download the pdf brochure

COVID-19 has negatively impacted the production and factory operations of various end-use industries such as automotive, electronics, aerospace, and others. Leading manufacturers such as TE Connectivity has faced business complication with its suppliers, distributors, and customers. Moreover, fluctuation in customer orders and cancellations due to unfavorable business scenario due to the pandemic and supply chain disruptions also impacted the fluoropolymer tubing manufacturers. Major players in the market are mitigating the risk through a strong focus on local management and market opportunities.

• In 2020, TE Connectivity has witnessed sales decline of 12.5% due to the pandemic in its transportation solution business segment which provides fluoropolymer tubing products.
• In 2020, PARKER HANNIFIN CORP faced cancellations in shipments and disputes regarding contract terms along with weak demand from end-use industries. Moreover, changes in contract cost and fluctuations in raw material prices has created business complications for the company. The diversified industrial business segment of the company has reported sales declined of 11% due to change in business dynamics during COVID-19 pandemic.

APAC is expected to be the fastest-growing market during the forecast period.

Fluoropolymer tubing market has been segmented into APAC, Europe, North America, South America, and Middle East & Africa. The market in the APAC region is growing due to the rising demand from various end-use industries such as medical, automotive, semiconductor, and energy. Asia Pacific is one of the fastest-developing markets, mainly due to rising population, urbanization, and industrialization.

Major players operating in the global fluoropolymer tubing market are Saint-Gobain (France), Optinova (Finland), TE Connectivity (Switzerland), Teleflex Inc. (US), Tef-Cap Industries (US), Zeus Industrial Products (US), Fluorotherm (US), AMETEK (US), Parker Hannifin (US), Swagelok (US) and Adtech (UK).

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The Key Development Strategies are Adopted by Leading Players for Boosting the Growth of the Carbon Capture, Utilization, and Storage Market

 

Carbon capture, utilization, and storage are used in a variety of end-use industries, including natural gas, power generation, hydrogen, fertilizers, oil refining, and others. Led by strong end-user demand, the carbon capture, utilization, and storage industry is growing at a rapid pace. However, amidst the global COVID-19 pandemic, the demand for carbon capture, utilization, and storage from the above-mentioned industries is expected to show a sharp decline in 2020 from 2019. The global carbon capture, utilization, and storage market size is projected to grow from USD 2.1 billion in 2021 to USD 7.7 billion by 2026, at a CAGR of 29.8%.

Over the past few years, companies have strengthened their positions in the global carbon capture, utilization, and storage market by adopting strategies, such as new product launch/ development, expansion, agreement/partnership, and acquisition. From 2016 to 2020, new product launch and partnerships have been the key strategies adopted by the market players to maintain their growth in the global carbon capture, utilization, and storage market. For instance, in September 2020, Mitsubishi Shipbuilding Co., Ltd., which is a part of Mitsubishi Heavy Industries, Ltd. (MHI), worked with Nippon Kaiji Kyokai (Japan) and Kawasaki Kisen Kaisha, Ltd. (Japan) to conduct test operations and measurements for a small-scale ship-based CO2 capture demonstration plant. This technology was tested to verify the equipment’s use as a marine-based CO2 capture system. Similarly, in July 2020, the Norwegian energy giant, Equinor, announced plans for leading a project to develop one of the UK’s and the world’s first at-scale facilities to produce hydrogen from natural gas in combination with carbon capture and storage (CCS). The project will be located at Saltend Chemicals Park that will enable industrial customers to switch over to hydrogen fully. Consequently, emissions from Saltend Chemicals Park would reduce nearly by 900,000 tons of CO2 per year, according to Equinor.

To know about the assumptions considered for the study download the pdf brochure

The Carbon capture, utilization, and storage business of these companies is severely affected due to the outbreak of COVID – 19 pandemic. The lockdown strategies and restrictions on physical movements led to delay in work due to supply chain disruptions along with the falling productivity across manufacturing facilities. Moreover, the lockdown has delayed the upcoming projects, which has affected the growth of the carbon capture, utilization, and storage market.

The major manufacturers profiled in this report include Fluor Corporation (US), ExxonMobil Corporation (US), Linde plc (UK), Royal Dutch Shell Plc (Netherlands), Mitsubishi Heavy Industries, Ltd (Japan), JGC Holdings Corporation (Japan), Schlumberger Limited (US), Aker Solutions (Norway), Honeywell International Inc. (US), Equinor ASA (Norway), TotalEnergies SE (France), Hitachi, Ltd (Japan), Siemens AG (Germany), General Electric (US), and Halliburton (US). These companies adopted various organic and inorganic growth strategies. For instance, in November 2021, ExxonMobil Corporation and Pertamina entered into a memorandum of understanding and planned to evaluate Indonesias large-scale deployment of low-carbon technologies.

Equinor ASA conducts operations in the oil & gas industry, such as exploration, production, transport, refining, and marketing petroleum and petroleum-based products. The company engages under the following operating segments: crude oil, natural gas, refined products, natural gas liquids, and others. It is involved in various activities related to fields and platforms, terminals and refineries, trading, transport, & shipping; renewable energy, and decommissioning on the Norwegian Continental Shelf (NCS). Equinor is a leading pioneer in carbon capture, utilization, and storage technology. Projects related to carbon capture, utilization, and storage are also carried out under the same division. The company has been developing carbon capture, utilization, and storage technology for more than 20 years and is a part of around 40 carbon capture, utilization, and storage projects globally.

Royal Dutch Shell Plc, through its subsidiaries, engages in the oil and natural gas exploration, production, refining of petroleum. The company operates its business through five segments: integrated gas, upstream, oil products, chemicals, and corporate. It produces fuels, chemicals, and lubricants. The company owns and operates gasoline filling stations worldwide. It is also investing in power, including low-carbon sources, such as wind and solar; and new fuels for transport, such as advanced biofuels and hydrogen. It is implementing various carbon capture and storage projects at Gorgon (Australia), Quest (Canada), and Northern Lights (Norway). The company is taking an innovative approach and using advanced technologies to help build a sustainable energy future.

ExxonMobil Corporation is a leading global player in the energy and chemical business. The company has the highest carbon capture capacity, nearly double its next competitor and greater than the next five players combined. It has its expertise in all three business divisions: chemical, upstream and downstream operations. The chemical business markets petrochemicals, including a wide variety of performance materials. The upstream business is involved in oil and natural gas exploration. Its downstream business deals in lubricants and derivatives of crude oil. Currently, it has captured 40% of the total global carbon capture, utilization, and storage capacity.

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Changing consumer preference toward eco-friendly plastic product is driving the Polylactic Acid (PLA) Market

 

The global PLA market size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026. The major factors driving the market are rising demand of PLA in packaging industry, stringent waste management regulations in Europe, increased focus of government on green procurement policies, and shift in consumer preference toward eco-friendly and biodegradable plastic products. Moreover, development of new applications, high potential in emerging countries of APAC, and multi-functionalities of PLA is expected to drive the market during the forecast period.

Improving consumer awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional plastics contribute to the market growth of PLA. Traditionally used petroleum-based plastics take decades to break down or degrade and lay in landfills for a long period. PLA breaks down faster when they are discarded and are absorbed back into the natural system. In addition, the rate of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics.

To know about the assumptions considered for the study download the pdf brochure

The packaging segment is estimated to be the fastest-growing end-use industry for PLA market during the forecast period.

Packaging is the largest end-use industry for PLA, with a high CAGR of 13.0% during the forecast period. The need for sustainable solutions has encompassed several industry verticals, including food & beverages, e-commerce, and FMCG. The unique properties of packaging enable its use in various food and non-food applications such as cigarettes, biscuits, sugar confectioneries, baked goods, noodles, and other snacks. The rise in e-commerce has also increased packaging requirements.

The thermoforming grade segment is expected to lead the PLA market during the forecast period.

Thermoforming grade has enormous growth potential in various packaging applications such as food, beverages, and other consumer products. Thermoformed parts made of PLA have excellent clarity, comparable to those formed in oriented polystyrene (OPS) and polyethylene terephthalate (PET). This, combined with the temperature requirements for product storage, make thermoformed PLA suitable for food packaging trays for baked goods, fruits, and vegetables.

Europe is expected to be the largest market for PLA during the forecast period.

The packaging industry is the largest end-use industry of PLA in Europe. The political and economic conditions have also driven the market penetration of PLA. The EU Commission has focused on the Lead Markets Initiative, where PLA has been identified as one of the most important potential markets. The strict government norms and economic conditions have also driven the PLA market. These factors have been responsible for the development of PLA with collaborative research in the region.

The key players in this market are Natureworks LLC (US), Total Corbion PLA (Netherlands), BASFSE (Germany), Cofco (China), Futerro (Belgium), Danimer Scientific (US), Toray Industries Inc. (Japan), Evonik Industries (Germany), Mitsubishi Chemical Corporation (Japan), and Unitika Ltd. (Japan).

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Top Recent Development in 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 foam plastics market is projected to grow from USD 51.6 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 4.8% between 2020 and 2025. APAC is the largest consumer of foam plastics. The overall growth of the market is triggered by the growth of major end-use industries of foam plastics and energy sustainability and energy conservation properties of foam plastics.

To know about the assumptions considered for the study download the pdf brochure

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.
• In February 2020, Huntsman Corporation announced that it completed the acquisition of Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications. Huntsman acquired the business from an affiliate of FFL Partners, LLC, for USD 350 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity.

APAC is the largest foam plastics market, globally.

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 the 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).

Top Market Leader - Polymer Modified Cementitious Coatings Market

The polymer modified cementitious coatings market is estimated at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, at a CAGR of 6.5% from 2020 to 2025. The residential segment is estimated to lead the polymer modified cementitious coatings market in 2020, owing to The growing urbanization and migration of people from rural areas to urban cities are important factors driving the housing sector. Rising government initiatives to support infrastructure development and construction activities in emerging countries of the Asia Pacific region offer lucrative growth opportunities to manufacturers of polymer modified cementitious coatings. The recent outbreak of the COVID-19 pandemic and its rapid spread across the world has led to economic disruption and has brought down construction activities. Trade, travel, retail, and manufacturing activities have been affected, and the production of construction chemicals has come to a standstill during the first three months of 2020 and is expected to continue till the second quarter of 2020.

The polymer modified cementitious coatings market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific polymer modified cementitious coatings market in 2019. The Asia Pacific region is an emerging and lucrative market for polymer modified cementitious coatings, owing to industrial development and improving economic conditions. This region constitutes approximately 60% of the world’s population, and thus leads to the wide-scale use of polymer modified cementitious coatings for waterproofing applications in residential and non-residential buildings, and public infrastructure. Outbreak of COVID-19 from China and the impact of coronavirus in Japan, South Korea, Australia, and India has caused a decrease in the consumption of polymer modified cementitious.

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Major companies such as Arkema S.A. (France), Sika AG (Switzerland), Akzo Nobel N.V. (Netherlands), MAPEI S.p.A. (Italy), Compagnie de Saint-Gobain S.A. (France), and Fosroc International Limited (UAE) , Dow, Inc. (US) and H.B. Fuller Company (US) The Lubrizol Corporation (US), Organik Kimya Sanayi Ve Ticaret A.S. (Turkey), Pidilite Industries Limited (India), GCP Applied Technologies Inc. (US), Berger Paints India Limited (India), W. R. Meadows, Inc. (US), Evercrete Corporation (US), Indulor Chemie GmbH (Germany), The Euclid Chemical Company (US) and others are key players in the polymer modified cementitious coatingsmarket. These players have been focusing on developmental strategies, such as expansions, acquisitions, partnerships, joint veture, and new product developments, which have helped them expand their businesses in untapped and potential markets.

Arkema S.A. (France) is one of the leading producers of specialty chemicals and advanced materials in the world. The company offers its products to various industries, such as construction, packaging, chemical, automotive, electronics, food, and pharmaceuticals. It offers cementitious coating products through its subsidiary, Bostik. The subsidiary provides construction products based on polymer modified cementitious binders including tile adhesives and grouts, floor screeds, and leveling compounds. The company adopts growth strategies to increase its market share. For instance, in December 2018, The company acquired LIP Bygningsartikler AS (LIP), the Danish leader in tile adhesives, waterproofing systems, and floor preparation solutions through its subsidiary, Bostik. With this acquisition, the company is able to meet customer demand in the Nordic countries.

Akzo Nobel N.V. (Netherland) is a leading producer of paints & coatings and specialty chemicals. The company operates through two segments, namely, Performance Coatings and Decorative Paints. It offers cementitious coating products under its Performance Coatings segment which produces automotive and aerospace; industrial; marine and protective; and powder coatings. The company offers products for various end-use industries, such as building & infrastructure, transportation, and consumer goods. . The company has halted its production lines and suspended their financial expectations for 2020 due to significant market disruption resulting from the Covid-19 pandemic. This has impacted the company’s operations across the globe and is expecting improvements from the second quarter in most of the countries.

Compagnie de Saint-Gobain S.A. is one of the major players in the construction chemical industry with a strong foothold in Europe and North America. The company currently focuses on strengthening its position of polymer modified cementitious coatings in the Asia Pacific region by adopting growth strategies. For instance, the company partners with SCG Cement-Building Materials in Thailand to develop a modular bathroom solution that incorporates Saint-Gobain Weber tiling and waterproofing solutions. This has helped the company to establish its presence in Thailand and strengthen its position in the Asia Pacific region.

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Top Market Leader in Oxygen-Free Copper Market

The oxygen-free copper market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% during the forecast period. Increasing demand for oxygen-free copper from the electronics & electrical end-use industry, especially in the Asia Pacific region, is expected to drive the demand for oxygen-free copper in the near future. The electronics & electrical end-use industry is estimated to account for an 76% share of the oxygen-free copper market, in terms of value, in 2019.

The oxygen-free copper market is dominated by major players such as KGHM Polska Miedz SA (Poland), Hitachi Metals Neomaterials Ltd. (Japan), Zhejiang Libo Holding Group (China), Mitsubishi Materials Corporation (Japan), Metrod Holdings Berhad (Malaysia), Aviva Metals (US), KME Germany GmbH (Germany), and Sam Dong (South Korea). These players have adopted growth strategies, such as acquisitions and expansions to further expand their presence in the global oxygen-free copper market. Aqcuisitions were the most dominating strategy adopted by major players from 2017 to 2020, which helped them to expand their global presence and broaden their customer base.

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KGHM Polska Miedz SA is a Poland-based company engaged in mining and production of copper and other precious metals. The company operates through various sites under the divisions, such as mining & enrichment, smelting & refining, and downstream processing. Through these divisions, the company manufactures products, such as copper, precious metals, molybdenum, and rhenium. Under the copper product segment, the company provides cathodes, wire rod, Cu- OFE wire, Cu-Ag wire, round billets, and granules. It manufactures oxygen-free copper in Cedynia plant using the UPCAST technology. It exports its products to Germany, the UK, France, China, and the Czech Republic, among other countries. The company has mining and enrichment facilities in Poland, Chile, Canada, and US. Its metallurgy, refinery and processing plants are all located in Poland. The company also has an office located in China to cater to the demands from the region. KGHM is one of the key players among those controlling the world’s copper reserves. The company’s share is estimated at 41.8 million tons (38 million tonnes) of copper in 2020.

Neomax Materials Co., Ltd., a predecessor of the company, was founded in 1943 as the Suita branch of Sumitomo Metal Industries, Ltd. Owing to a series of mergers—with Toyo Seihaku Co., Ltd. in October 2015 and Hitachi Metals Nanotech Co., Ltd. in April 2016—the corporate name was changed to Hitachi Metals Neomaterial, Ltd. in 2016. The company also merged with SH Copper Products Co., Ltd. in April 2018. Hitachi Metals Neomaterial, Ltd. has expanded and evolved, integrating the technologies and diverse cultures of each of these companies. It has six production bases and five marketing and sales bases across Japan. The company’s metal materials play a vital role in a wide variety of fields, including home appliances, electronics, automobiles, batteries, and medical equipment. It has an integrated system of production that is one of the most advanced production systems in Japan, covering everything from the melting of metals to rolling, plating, and finish processing, according to customer requests.

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3D Printing High Performance Plastic Market worth $202 million by 2025

The global 3D printing high performance plastic market is expected to grow from USD 72 million in 2020 to USD 202 million by 2025, at a CAGR of 22.9% during the forecast period. Increasing demand from high end-use industries, growing novel application in tooling and proptotying, and government supportive activities to promote the usage of 3D printing materials is driving the growth of the market.

Browse 141 market data Tables and 53 Figures spread through 202 Pages and in-depth TOC on “3D Printing High Performance Plastic Market by Type (PA, PEI, PEEK & PEKK, Reinforced), Form (Filament and Pellet, Powder), Technology (FDM, SLS), Application, End-Use Industry, and Region – Global Forecast to 2025”
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Polyamide type comprise a major share in terms of value and volume.

Polyamide 3D printing high performance plastic have huge demand from wide end-use industries. Polyamide filaments are useful in several end-use industries ranging from automotive, medical, aerospace, dental, and electrical & electronics. It is available at affordable cost and can be given finishing in multiple ways, including dyed, smoothed spray-printed, and velvet finish making it highly suitable for multiple applications.

However, due to pandemic COVID-19, the demand for 3D printing high performance plastic witnessed sharp decline. Factory shutdown, reduced production capacities, and reduced demand from end-use industries has negatively impacted on the growth of the market. This demand would surge with stable economic conditions, uninterrupted supply chain, and growing demand for 3D printing high performance plastic along with innovation of application specific 3D printing material.

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FDM technology account for the largest market share in the global 3D printing high performance plastic market in terms of value and volume

FDM technology is well developed for 3D printing a wide variety of high performance plastics such as PEEK & PEKK, PPSU, and PEI. FDM is the most widely used technology across the world due to its inexpensive nature and excellent compatibility with high performance plastic materials. The technology is highly suitable with high performance plastics in the filament and pellet form and is trusted to produce strong and durable parts with complex geometries.

Functional part manufacturing application to grow at the fastest CAGR in the global 3D printing high performance plastic market in terms of value and volume

3D printing high performance plastics used in the Functional part manufacturing application is witnessing high growth across the globe. The superior properties of these plastics such as high-temperature performance, mechanical strength, and excellent chemical resistance are the key factors driving their usage. Various end-use industries, including transportation, healthcare, and aerospace & defense, are early adopters of 3D printing high performance plastics.

Medical & healthcare industry dominates the market in the global 3D printing high performance plastic market in terms of value and volume

The medical & healthcare industry led the 3D printing high performance plastic market. The industry is continuously looking to adopt breakthrough technologies and materials to cater to the medical requirements of humans. High compatibility of 3D printing high performance plastic such as polyamide has increased its application in making of medical devices, surgical equipment, prosthetics & implants, and tissue engineering products supporting the growth of the market.

North America to continue the similar growing trend in the 3D printing high performance plastic market during the forecast period

North America held the largest share in 3D printing high performance plastic market and is projected to continue the similar trend over the projected period. Manufacturers of 3D printing materials in North America are putting efforts by undertaking new product launch, collaboration, and other strategies. For instance, in September 2018, Stratasys Ltd. signed a multi-year technical partnership with Team Penske (US). Team Penske will be using advanced materials, such as Carbon Fiber-filled Nylon 12, in additive manufacturing for advanced car testing, production parts, and prototypes. The partnership is aimed at innovating new materials in 3D printing to increase output and improve vehicle performance.

Arkema S.A. (France), Royal DSM N.V. (the Netherlands), Stratasys, Ltd. (US), Evonik Industries AG (Germany), 3D Systems Corporation (US), EOS GmbH Electro Optical Systems (Germany), Victrex plc. (UK), Solvay (Belgium), Oxford Performance Materials (US) , and SABIC (Saudi Arabia) are some of the key players in the 3D printing high performance plastic market.. These players have taken different organic and inorganic developmental strategies over the past five years.

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NatureWorks (US) and Braskem (Brazil) are Leading Players in the Bioplastics & Biopolymers Market

The global bioplastics & biopolymers market size is expected to grow from USD 10.7 billion in 2021 to reach USD 29.7 billion by 2026, at a CAGR of 22.7%.

The increasing demand for bioplastics & biopolymers material in various end-use segments coupled with stringent regulatory and sustainability mandates concerning healthcare safety is driving the market for bioplastics & biopolymers. Additionally, the growing industrial development in the emerging economies, such as APAC and South America along with the rising demand for bioplastics & biopolymers are also driving the market demand.

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The key players in this market are BASF (Germany), Mitsubishi Chemical Holding Corporation (Japan), NatureWorks (US), Total Corbion (Netherlands), Toray Industries (Japan), Novamont (Italy), Biotec (Germany), Biome Bioplastics (UK), Braskem (Brazil), and Plantic Technologies (Australia). These players have adopted various strategies such as investment & expansion, merger & acquisition, partnership & agreement, and new product launch in order to strengthen their market position.

For instance, in April 2021, NatureWorks announced a new strategic partnership with IMA Coffee, which is a market leader in coffee handling processing and packaging. This partnership aims at increasing the market reach for high-performing compostable K-cup in North America. NatureWorks is jointly owned by PTT Global Chemical (Thailand) and Cargill (US). It manufactures biopolymers derived from renewable resources, such as corn, starch, and vegetable oils. It is among the leading advanced material companies and offers a broad portfolio of renewably sourced polymers and chemicals for the packaging and chemical industries. The company offers Ingeo Biopolymer, which is used in 3D printing, beauty and household, building & construction, food & beverage packaging, medical & hygiene, and other applications. It also offers PLA-based biopolymer performance material designed for use in fresh food packaging and food service ware applications. NatureWorks operates in North America, Europe, and APAC, with manufacturing facilities in the US.

Braskem was founded in 2002, with the consolidation of six companies, namely, Copene, OPP, Trikem, Proppet, Nitrocarbono, and Polialden. The company operates in the chemical and petrochemical industry and thus, plays an important role in other production chains that are essential to economic development. The company produces polyethylene (PE), polypropylene (PP) and polyvinylchloride (PVC) resins, in addition to basic chemical inputs such as ethylene, propylene, butadiene, benzene, toluene, chlorine, soda, and solvents, among others. The company offers bioplastics through its biopolymers segment. Braskem is the first company that started to produce on a world scale unit BIO- PE which is made out of sugarcane. The company produces 16 million metric tons per year of thermoplastic resins and other chemical products. It exports the products to clients in approximately 100 countries and operates 41 industrial units, which are located in Brazil, the US, Germany, and Mexico as well as 16 regional offices in other countries to provide integrated solutions for clients. the latter in partnership with the Mexican company, Idesa.

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Increasing industrialization in developing economies drives the Corrosion Inhibitors Market

Infrastructural development in economies such as China, India, Brazil, and South Korea, are expected to boost industrial activities and increase the consumption of corrosion inhibitors during the forecast period. In 2018, countries such as China, the US, Australia, the UK, and France spent 5.57%, 0.52%, 1.69%, 0.92%, and 0.84% of their GDP in construction and maintenance of infrastructure, according to Statista. In 2020, China had scheduled USD 1.07 trillion as infrastructure spending, according to China Banking News.

According to the World Bank, emerging economies need to spend about 4.5% of GDP to achieve sustainable development. Infrastructural growth related to electricity demand, clean water demand, fuel demand, transportation demand, and construction demand are expected to boost the market for corrosion inhibitors in the next five years. The global spending on infrastructure is expected to reach USD 94 trillion by 2040, and an additional USD 3.4 trillion would be required to attain United Nations’ Sustainable Development Goals for electricity and water, according to Oxford Economics. Countries in APAC, including China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, will be the fastest-growing and account for nearly 50% of the global infrastructure spending by 2040, according to an Oxford Economics study. Due to the increasing consumption of industrial water in emerging economies, the opportunity is being created for manufacturers to offer a wide range of corrosion inhibitors to various specific applications in order to protect them from corrosion.

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The global corrosion inhibitors market size is projected to reach USD 10.1 billion by 2026 at a CAGR of 4.9% from 2021. The increasing demand for corrosion protection chemicals in various end-use segments coupled with stringent regulatory and sustainability mandates concerning the environment is driving the market for corrosion inhibitors.

Water Treatment application will account for the major share of the corrosion inhibitor market, based on application in terms of value.

Water treatment accounted for 44.4% of the total corrosion inhibitor market in terms of application, in 2020. Corrosion can cause many concerns such as rusting of pipelines, equipment surfaces, and lowered efficiency of the equipment mainly in the industrial sector. Feed water use in various industries contains carbon dioxide which is corrosive to steel. If this carbon dioxide is left untreated, iron deposits on the boilers. These corrosion inhibitors are fed downstream of the deaerating equipment. It is volatilized and carried out with the steam after reacting with carbon dioxide. Corrosion inhibitors for boiler treatment include neutralizing and filming amines for condensate linings. Morpholine, cyclohexylamine, diethylethanolamine (DEAE), aminomethyl propanol, and aqua ammonia octadecylamine (ODA) are some of the common corrosion inhibitors used to protect boiler systems from corrosion.

The Middle East & Africa region is the second fastest-growing region for the corrosion inhibitor market, in terms of value.

The region has emerging markets, such as Saudi Arabia, the UAE, Iran, Kuwait, and South Africa. The region has established oil & gas and chemical & petrochemical industries due to the abundant availability of natural resources. The oil & gas industry in the region is growing at a steady pace due to rising exports and increased exploration of reserves. Huge investments, rising population, growing disposable income, and integration of production activities are likely to increase output in the form of fuel and feedstock and, in turn, drive the corrosion inhibitors market.

Major players operating in the global corrosion inhibitor market include Solenis (US), Nouryon (The Netherlands), Baker Hughes Company (US), Ecolab (US), BASF SE (Germany), SUEZ Water Technologies & Solutions (France), DOW Chemical Company (US), Lubrizol Corporation (US), Lanxess (Germany), and Henkel Corporation (Germany).

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High potential in emerging countries of APAC is driving the Bioplastics & Biopolymers Market

 

Global bioplastics & biopolymers market size is projected to grow from USD 10.7 billion in 2021 to USD 29.7 billion by 2026, at a CAGR of 22.7% between 2021 and 2026. Bioplastics are plastics derived from renewable sources such as corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil, while biopolymers are naturally occurring polymers. A bioplastic may or may not be biodegradable. Bioplastics are mainly segmented into biodegradable and non-biodegradable plastics for various applications in the packaging, consumer goods, automotive & transportation, agriculture & horticulture, medical, and other end-use industries.

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APAC is estimated to be the fastest-growing market for bioplastics & biopolymers between 2021 and 2026. Growth in APAC is primarily attributed to the fast-paced expansion of the economies such as China, India, and Indonesia. Growing population increased consumer spending, and rapid industrial expansion are the major factors responsible for the high growth rate of the region. Growing environmental concern and awareness along with increasing regulations are the key factors driving the demand for bioplastics & biopolymers. The manufacturers focus on the high-growth market to gain market share and increase their profitability.

The bioplastics & biopolymers market players are continuously implementing organic and inorganic strategies for their growth. In recent years, the players have made many strategic developments in the emerging countries of APAC. For instance, in 2019, Total Corbion set up a PLA Plant in Rayong, Thailand, with a production capacity of 75,000 tons per year. In the same year, Mitsubishi Chemical Holding Corporation (Japan) and Lenovo Group Limited (China) entered into a joint venture to produce a bioplastic-based body (3D shape rear panel) for smartphones. In addition, Indonesia is exploring bioplastic alternatives, such as seaweed. Evoware, a local player, provides patented seaweed-based packaging. The company is producing containers made from seaweed. The regulations related to the environment are expected to increase, which would eventually propel the demand for bioplastics in these countries in the future. Moreover, Southeast Asia is rich in bio-based feedstock required to produce bioplastic as it has local access to sustainable raw materials. Thus, regulations, coupled with the easy availability of feedstock, will, in turn, help sustain the demand for bioplastics during the forecast period.

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SOLMAX (Canada) and Officine Maccaferri Spa ( Italy) are the Key Players in the Geosynthetics Market

The global geosynthetics market is projected to reach USD 13.2 billion by 2026 from USD 9.9 billion in 2021, at a CAGR of 6.0% between 2021 and 2026. The rising demand for geosynthetics is majorly due to increasing investments on infrastructural developments, and rising concerns over waste and water management globally. Market growth is largely driven by the increasing population and urbanization, coupled with increasing industrial activities in the APAC and South America which is expected to offer opportunities for manufacturers during the forecast period. Developments in the field of technology, and growing demand for sustainable products are presenting opportunities for the geosynthetics market.

Geosynthetics market is dominated by APAC in 2020. The region is growing at a faster rate which accounts for the high growth of the geosynthetics market. The emerging market of India, China, and other countries of the APAC are growing and boosting the regional market growth. Rapidly increasing population, urbanization, and industrialization are expected to drive the geosynthetics market in APAC. Rising investment In the development of public infrastructure and growing demand for solid waste management system are the major factors driving the geosynthetics demand in the region.

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The key players in the geosynthetics market include SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri Spa ( Italy), Berry Global Inc ( US), and Agru America, Inc ( US). The geosynthetics market report analyzes the key growth strategies, such as new product launches, expansions, joint ventures, agreements, partnerships, and mergers & acquisitions adopted by the leading market players between 2018 and 2021.

SOLMAX is a leading player in the geosynthetics business. Its diversified product portfolio reduces its market risks. The company has a strong global presence with a sales presence in more than 100 countries.

It develops innovative products that meet the quality standards and environmental regulations. SOLMAX focuses on development of sustainable and performance products with high expenditure on R&D to provide effective and efficient products to its customers. Investment and acquisition are among the key business strategies used by the company to strengthen its market position.

Officine Maccaferri is an active player in geosynthetics business. It caters to the needs of customers by providing innovative and performance driven materials. The company is taking initiatives to enhance its operational performance and improve profitability. It focuses on improving performances within existing business by undertaking innovation activities across its segments. It also emphasizes on development of customer-focused solutions that satisfies critical end-use requirements, hence is successful to build long-lasting relations with its customers.

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Insulating Glass Window Market worth $17.2 billion by 2026

The insulating glass window market size was USD 12.0 billion in 2020 and is projected to reach USD 17.2 billion by 2026; it is expected to grow at a CAGR of 6.1% from 2021 to 2026, owing to the increasing demand for energy-efficient buildings in various regions.

Insulating Glass Window Market by Product Type, Glazing Type (double glazed, triple glazed), Spacer Type, Sealant Type (silicone, polysulfide, hot melt butyl, polyurethane), End-Use Industry, and Region – Global Forecast to 2026

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By product type, the gas-filled insulating glass segment is projected to grow at the highest CAGR during the forecast period
Gas-filled insulating glass segment is expected to grow at a faster rate during 2021 to 2026. The growth is due to the better insulation properties offered by gas-filled insulating glass compared to air-filled and vacuum insulating glass (VIG). Also, the performance of an insulating glass unit can be enhanced by filling the space with a noble gas such as argon or krypton between the panes.

By glazing type, triple glazed segment is projected to grow at the highest CAGR during the forecast period
Triple galzed segment is expected to grow at a faster rate during 2021 to 2026, owing to their high demand from countries having cold climates. Triple glazing is prominently used in Scandinavian countries due to the cold climate there. Moreover, the additional layer of glass in a triple-glazed window reduces heat loss, thus making it a lot harder for heat to escape.

By end-use industry, residential segment is expected to register the highest CAGR during the forecast period
The residential segment is expected to register the highest CAGR during 2021 to 2026, due to the growing demand for green buildings. One of the key roles of insulating glass windows in the residential construction segment is to keep homes warmer in the winter and cooler in the summers. Also, these insulating glass windows are used as a replacement for other building materials, such as wood and brick, to boost the aesthetic appeal of residential constructions.

Middle East & Africa is projected to grow at the highest CAGR during the forecast period
Middle East & Africa region is projected to show positive growth, especially in the commercial construction industry, due to factors such as government initiatives (Saudi Arabia’s Vision 2030), increasing urbanization, and industrialization. Also, the Middle East & African insulating glass window market is projected to witness high growth till 2022, mainly because of the upcoming infrastructural projects such as Expo 2020 (UAE) and the 2022 FIFA World Cup (Qatar).

The key market players include AGC Inc. (Japan), Central Glass Co., Ltd. (Japan), Compagnie de Saint-Gobain SA (France), Dymax (US), Glaston Corporation (Finland), Guardian Glass (US), H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), Internorm (Austria), Scheuten (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Sika AG (Switzerland), 3M (US), Viracon (US). These players have adopted product launches, acquisitions, expansions, agreements, contracts, partnerships, investments, collaborations, and divestments as their growth strategies.

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Growing demand for environment-friendly compressors are driving the Liquid Ring Vacuum Pumps Market

The liquid ring vacuum pumps market size was USD 1.8 billion in 2020 and is projected to reach USD 2.4 billion by 2026, at a CAGR of 5.5% from 2021 to 2026, owing to rising gas transportation sector. The oil & gas segment is the biggest application for liquid ring vacuum pumps. The growing investments in the crude oil industry is expected to drive the use of liquid ring vacuum pumps.

With rising emission levels and increasing usage of fuel in compressed air systems, the demand for eco-friendly compressors has increased. Liquid ring vacuum pumps and compressors can achieve long-term savings and ensure a cleaner environment. Environment-friendly liquid ring vacuum pumps need less fuel and make less noise compared to rotary compressors. These pumps are made up of durable materials to withstand volatile gases and vapors without affecting their performance. As the gases are compressed at the same temperature in the cavity, the pump is capable of pumping explosive gases safely. All these factors have created better growth opportunities for the liquid ring vacuum pumps market during the forecast period.

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By type, two-stage is the fastest-growing segment during the forecast period of 2021 to 2026.

The significant growth in the pharmaceutical industry will lead to an increase in the demand for liquid ring vacuum pumps. By type, the two-stage pumps are more efficient at much higher vacuum levels. Also, they are better suited for handling solvents at much higher levels of vacuum.

By flow rate, 3000-10,000 m3/h segment is projected to grow at the highest CAGR during the forecast period

The liquid ring vacuum pumps with a flow rate of 3,000-10,000 m3/h are considered medium capacity liquid ring vacuum pumps. Medium capacity liquid ring vacuum pumps are used in diverse applications across industries such as oil & gas and petrochemical & chemical. High demand from pulp & paper, oil & gas, power generation, and chemical industries is expected to fuel the growth of this segment.

North America is expected to be the second-largest market in 2020, in terms of value

North America is expected to be the second-largest market for liquid ring vacuum pumps during the forecast period. There is an increasing demand for liquid ring vacuum pumps from water and wastewater treatment plants in the region. Also, industries such as food & beverage, chemical processing, and pharmaceutical are driving the demand for liquid ring vacuum pumps in the region.

The key market players include Busch Vacuum Solutions (Germany), Flowserve Corporation (US), Atlas Copco (Sweden), Ingersoll Rand (US), Tsurumi Manufacturing Co., Ltd (US), DEKKER Vacuum Technologies, Inc. (US), Vooner (US), Graham Corporation (US), Cutes Corp. (China), Zibo Zhaohan Vacuum Pump Co., Ltd (China), OMEL (Brazil), PPI Pumps Pvt. Ltd. (Mexico), Samson Pumps (Denmark), and Speck (Germany). These players have adopted product launches, agreements, acquisitions, mergers & acquisitions, and expansions as their growth strategies.

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