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.

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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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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.

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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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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.

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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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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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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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Development Stages of Flow Chemistry in Industry and Technology

The Flow Chemistry Market is highly competitive in nature as the technology is quite new in nature. The major focus of the report is on Microreactor systems which is a highly growing and challenging market. The market for microreactors is still in development stages but expected to grow at significant rates in the future. The major players in the Microreactors (MRT) markets discussed in the report are Syrris (U.K), Ehrfeld (Germany), IMM (Germany), YMC (Japan), Chemtrix (Netherlands), DSM (Netherlands), Future Chemistry (Netherlands), etc. The market is highly competitive and fierce in nature due to fewer suppliers and many customers. The customers of MRT systems are mainly from chemicals, pharmaceuticals background. Academia research and laboratories are also the leading applications for these systems.

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About 60% of the total MRT module manufacturers are located in Europe with the Asia Pacific capturing 20% share in 2012. The leading manufacturers in Europe are located in Germany, Switzerland, Hungary, U.K. Syrris (U.K) is the market leader in the MRT systems market globally. The major players in the business are highly focusing collaborations and agreements in terms of combined developments, distribution agreements, supply contracts as a part of growth strategies to tap the highly competitive market.

The competition in the business is moderately high as top players such as DSM, Corning has high technical expertise in large scale production, while other players in the market are mainly focused on supplying pilot or lab scale devices. The issues related to dumping are seen in recent years in the MRT market. The threat exists from new entrants in the market is less at present due to small market size but expected to rise in the future.

New Product Developments, Acquisitions, and Collaboration to Enhance their Position in the Asphalt Additive Market

The asphalt additive market is projected to grow from USD 3.6 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 5.1% from 2019 to 2024. Increase in infrastructure development and road construction projects is one of the key factors driving the growth of the asphalt additive market across the globe.

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

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

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

Related Reports:

Asphalt Additive Market by Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt,), Application, Technology – Global Forecast to 2024

The Impact of the Different Market Factors on Elastomeric Membrane Market

The report “Elastomeric Membrane Market by Type (Sheet, Liquid Applied), Application (Roofs & Walls, Underground Construction, Wet Areas), End-use Industry (Non-residential, and Residential Construction), and Region – Global Forecast to 2022″, The elastomeric membrane market is projected to reach USD 41.10 Billion by 2022, at a CAGR of 6.7% from 2017 to 2022. Growing demand for the elastomeric membrane in the construction industry is driving the elastomeric membrane market. Moreover, the growing population, globalization, and increasing investments in infrastructure enhancement are expected to result in high demand for the elastomeric membrane.

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Among applications, the roofs & walls segment is projected to grow at the highest CAGR during the forecast period

Roofs & walls are the largest and fastest-growing application of the elastomeric membrane market owing to the high demand for sheet membranes in non-residential flat roofs. The elastomeric membrane is widely used in exterior applications and hence is a preferred choice in roofing. It can sustain adverse climatic conditions and improves the durability of roofing systems. Increasing construction of commercial and industrial buildings have further fueled the use of elastomeric membranes in this application.

Among end-use industries, the non-residential construction segment expected to lead the elastomeric membrane market during the forecast period

The non-residential construction end-use industry is the largest and fastest-growing segment owing to high demand for the elastomeric membrane in commercial buildings in the application of the flat roof. Due to growing industrialization and globalization, the non-residential sector is expected to experience rapid growth in commercial and institutional constructions. Moreover, the penetration of the elastomeric membrane is higher in this segment as it is expensive and hence affordable in non-residential construction projects which have high budgets.

Key Strategies Adopted by Key Industry Players to Achieve Growth in the Polybutadiene Market

The report “Polybutadiene Market by Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region – Global Forecast to 2022″, The market size of polybutadiene is estimated to grow from USD 6.56 Billion in 2016 to USD 12.71 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022.

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New product launches, mergers & acquisitions, partnerships & joint ventures, agreements, and expansions were the key strategies adopted by key industry players to achieve growth in the polybutadiene market between 2017 and 2022. Factors such as industrial advancements, technological upgrades, and demand for efficient polybutadiene with excellent physical properties, such as high wear resistance, toughness, excellent abrasion resistance, cold resistance, high tensile strength, high resilience, low rolling resistance, low glass transition, and hot tear strength have led to the rising adoption of polybutadiene across various applications. Polybutadiene are used in several industries, mostly automotive and plastics.

Companies operational in the polybutadiene market have adopted strategies such as new product launches, expansions, mergers, and joint ventures to achieve growth in the market. Some of the key players, including Reliance Industries Ltd. (India), Lanxess AG (Germany), UBE Industries ltd. (Japan), SABIC (Saudi Arabia), and Versalis S.p.A. (Italy), have adopted these strategies to develop their businesses globally.

Lanxess AG is a leading player in the global polybutadiene market. As a part of its growth strategy, in April 2016, the company entered into a joint venture with Saudi Aramco (Saudi Arabia) to form ARLANXEO (Netherlands) to produce polybutadiene and synthetic rubber to expand its product portfolio. The company also entered into a partnership with Hankook Tire (South Korea) in August 2015 to develop synthetic rubber technologies for high performance tires. Through these initiatives, the company is focusing on strengthening its position and expanding its product portfolio.

Versalis S.p.A is another major manufacturer of polybutadiene and one of the largest producers across the globe. As a part of its business strategy, Versalis focuses on new product development. The company focuses on manufacturing high quality products by employing state-of-the-art technology and improving efficiency of its operations. In February 2016, the company introduced new, innovative solutions for the rubber segment, including Europrene Neocis BR 450 dry grade, Europrene Neocis BRX 650 oil grade, and Europrene Neocis BRX 35 0E which can deliver green tires for better fuel consumption and environmental sustainability. Versalis is focusing on expanding its polybutadiene business globally through new product developments.

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New Product Launches were the Key Strategies Adopted by the Industry Players to Achieve Growth in the Composite Adhesives Market Between 2012 and 2017

Partnerships and new product launches were the key strategies adopted by the industry players to achieve growth in the composite adhesives market between 2012 and 2017. The key players, such as Henkel AG & Co. KGaA (Germany), 3M Company (U.S.), LORD Corporation (U.S.), and Sika AG (Switzerland) have adopted these strategies to develop their businesses globally. Increasing demand for lightweight and low carbon emitting vehicles, pent-up demand for composite adhesives from the residential housing market and infrastructure market, and the use of composite adhesives in wind energy blades have led to a rise in the demand for composite adhesives.

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Henkel AG & Co. KGaA is one of the major players in the global composite 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 48% of its total revenue in 2016. The company follows capacity expansion strategy to support the growing demand and improve product cost competitiveness and product portfolio by investing in R&D activities in new applications to cater to the market. In April 2015, the company acquired Novamelt GmbH (Germany) to enhance its leadership in providing adhesive solutions.

3M Company is another major player in the global composite adhesives market. The industrial and consumer business segments of the company manufacture adhesives & sealant products for various applications. These business segments together earned around 48% of the total revenue in 2016. Among countries, the U.S. accounted for 41% of the overall company revenue in 2016. The company’s business strategy mainly revolves around its targets for increasing its global footprint and revenues as well as launching innovative products. As a part of its growth strategy, the company plans to establish new production facilities and expand its existing plant capacities that would enable the company to strengthen its position in the high growth composite adhesives market. In October 2013, 3M launched Scotch-Weld Low Odor Adhesives, DP8805NS and DP8810NS, offering performance benefits of higher productivity, performance, cost savings, and health & safety concerns. These adhesives are fast-curing adhesives, which also have a higher impact resistance on plastics and metals. They can be used for several applications, such as transportation, metalworking, plastics/composites, and manufacturing, among others.

New Product Launch was the Major Strategy Adopted by Key Industry Players to Achieve Growth in the Acrylic Adhesives Market Between 2010 And 2016

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

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Asia-Pacific is the largest consumer of acrylic adhesives. Increasing population and technological advancements in the building & construction and transportation industries are expected to fuel the growth of the acrylic adhesives market in Asia-Pacific. China, Japan, and India are the major acrylic adhesives markets in Asia-Pacific. China is estimated to be the largest market in terms of consumption of acrylic adhesives.

Acrylic adhesives market: major developments

New product launch: major growth strategy adopted by key players

New product launch was the major strategy adopted by key industry players to achieve growth in the acrylic adhesives market between 2010 and 2016. This strategy accounted for a share of 51% of all growth strategies adopted by key market players. Companies adopted this strategy to provide improved products and develop acrylic adhesives for use across new applications. 3M Company (U.S.), Henkel AG & Company (Germany), Illinois Tool Works Corporation (U.S.), Avery Dennison (U.S.), Sika AG (Switzerland), Bostik SA (France), and H.B. Fuller (U.S.) are some of the leading players that adopted this strategy between 2010 and 2016.

Besides new product launches, companies adopted the strategy of mergers & acquisitions; investments & expansions; and partnerships, contracts, & agreements to increase their market share.Acquisitions:

In February 2017, H.B. Fuller (U.S.) acquired Cyberbond LLC. (U.S.), which helped the company increase its share in the cyanoacrylate adhesives technology market.

In December 2016, Arkema (France) completed the acquisition of Den Braven, a leader in high performance acrylic adhesives and sealants for insulation and construction in Europe. This acquisition helped Arkema to increase its share in the global acrylic adhesives market.

In December 2016, Avery Dennison (U.S.) signed an agreement to acquire Hanita Coatings. Hanita Coatings is an Israel-based manufacturer of pressure-sensitive materials and specialty films. The acquisition is expected to aid the company to expand its product portfolio and leverage Hanita’s strong R&D base.

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New product launch:

In April 2017, Sika AG (Switzerland) launched SikaFast-3300 and SikaFast-3500 Structural methyl methacrylate (MMA) adhesives for transportation and industrial assembly applications.

In September 2016, Henkel AG & Company (Germany) introduced Loctite 3090, it is the first gap-filling instant cyanoacrylic adhesive in the market, which fills gaps up to 5 mm wide. This adhesive overcomes the drawback of conventional cyanoacrylate adhesives, which have low viscosity and no-gap filling parts.

Exxon Mobil Corporation (U.S.), Covestro AG (Germany), and BP P.L.C. (U.K.), are Leading key players in the Toluene Market

The global market for toluene is projected to witness steady growth during the forecast period. The factors contributing towards the growth of this market are, the growth of the end-user base in the emerging economies of the Asia-Pacific and the Middle Eastern & African regions. Countries such as China and India are witnessing a healthy increase in petrochemical industrial activities because of the relocation of manufacturing facilities from the high-cost European and North American markets to the low-cost markets of the Asia-Pacific and Middle Eastern & African regions. Along with these factors, the growing end-user base is driving the market for toluene.

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The global toluene market has a large number of market players; however the market is led by some of the major players, such as China Petroleum & Chemical Corporation (China), China National Petroleum Corporation (China), Exxon Mobil Corporation (U.S.), Covestro AG (Germany), and BP P.L.C. (U.K.), among others. Together, these companies account for approximately 34% share of the toluene market. The other major players in the toluene market are, SK Innovation Co., Ltd. (South Korea), BASF SE (Germany), GS Caltex (South Korea), Formosa Chemicals & Fiber Corporation (Taiwan), Royal Dutch Shell PLC (Netherlands), and CPC Corporation (Taiwan), among others.

Most of these companies are leaders in the production of toluene and its derivatives. These companies are focusing on eliminating the supply chain gaps with backward or forward integration, and expansions in the emerging markets of the Asia-Pacific region in order to widen and strengthen their market shares.
Market players are concentrating on increasing their production capacities and developing cost effective technologies. The companies are investing in establishing new facilities, mainly in the emerging regions so as to increase their global presence. All these developments are due to the increasing demand for toluene from segments such as, solvents, TDI, and gasoline additives.

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Expansions and backward or forward integration are the key strategies adopted by the major toluene manufactures in the recent past. The top players in the toluene market are adopting these strategies for better penetration and expansions of their businesses into new emerging regions. These new ventures would help the companies to satiate the growing demand for toluene in several applications. ExxonMobil (U.S.), and BP PLC (U.K.) are the few among the other market players who have adopted these strategies in order to strengthen their shares in the toluene market.

Moreover, the leading market players are also focusing on expanding their existing production facilities in order to meet the growing demand for toluene, especially from the Asia-Pacific region. The market players are using this strategy as an excellent strategy to optimize their production facilities in the potential toluene markets.

Global Engineered Foam Market, By End User | CAGR of 7.9%

The global engineered foam market is projected to reach USD 122.30 billion by 2026, at a CAGR of 7.9% from 2016 to 2026. Growing demand of engineered foam in aerospace & defense, transportation, medical & healthcare, and others with high degree of customization to meet their application demand are some of the end-use industries driving the global engineered foam market.

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Based on end-use industry, aerospace & defense led the market for engineered foam. However, the transportation segment is expected to grow at the highest CAGR during the forecast period. Transportation is one of the key end-use industries for engineered foam. Engineered foams are used in the manufacturing of several vehicle parts, such as seat foam, door panels, and energy absorbs in the automotive industry. The automotive industry is expected to grow at a 5.4% annually, which is expected to drive the demand for engineered foams. The market players of the engineered foam market can expand its products offering for the transportation and automotive industries, which will help the players increase its market share in the engineered foam market.
Polyolefin is the fastest-growing material type segment of the engineered foam market. Polyolefin is majorly used in the packaging and automotive industries. Growing automotive industry and packaging industry, will drive the market of polyolefin engineered foam market. 

Asia-Pacific accounted for the largest share of the global engineered foam market in 2015, owing to the increasing investments in the transportation, and medical & healthcare sector in various countries in the region. It is, also expected to be the fastest-growing market in the coming years, in terms of value. Presently, the engineered foam market in Asia-Pacific is at a growth stage. The growth of the Asia-Pacific engineered foam market is also fueled by the increasing demand from countries, such as Japan, China, India, Indonesia, and others in the region. 

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The global engineered foam market is fragmented and is highly competitive with the presence of large number of prominent players. The DOW Chemical Company (U.S.), BASF SE (Germany), Bayer AG (Germany), Sekisui Chemical Ltd. (Japan), Huntsman Corporation (U.S.), Trelleborg AB (Sweden), Inoac Corporation (Japan), Recticel NV/SA (Belgium), Vita (Lux III) S.à r.l. (U.K.), Armacell GmbH (Luxembourg), Foamcraft Inc. (U.S.), FoamPartner Group (Switzerland), Future Foam Inc. (U.S.), UFP Technologies Inc. (U.S.), and Rogers Corporation (U.S.), are some of the key players operational in the engineered foam market. These companies adopted various strategies such as expansions, joint ventures, and mergers & acquisitions to strengthen their foothold and increase their share in this market.

Key Strategy Adopted by Microcellular Polyurethane Foam Market Leading Players

The global microcellular polyurethane foam market is expected to reach USD 6.95 billion by 2021 at a CAGR of 5.5% between 2016 and 2021.

Some of the major players involved in the manufacturing of microcellular polyurethane foam are BASF SE (Germany), The Dow Chemical Company (U.S.), Huntsman Corporation (U.S.), Evonik Industries (Germany), Era Polymers (Australia), and others.

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On the basis of type, the market is segmented into high density foam and low density foam.  Flexible foams and rigid foams, which are commercially used in a wide range of applications, are available in both the forms, that is, in high density as well as low density. Generally, foams of microcellular nature are usually of high density.

Foam densities often range from approximately two pounds per cubic foot to 50 pounds per cubic foot. Unlike thermoplastic foams (PVC, SAN), the unit cost of polyurethane foam increases in a more linear fashion with density. For instance, a 20 pound per cubic foot polyurethane foam will be approximately twice the cost of a 10 pound foam.

On the basis of application, the market is classified into automotive, building & construction, electronics, medical, aerospace, and others. Among the various applications of microcellular polyurethane foam, the automotive segment accounted for the largest share in 2015. The durability and light weight properties, combined with their strength, make microcellular polyurethane foams ideal not only for cushioning purposes, but also within the bodies of cars, where their insulation properties provide protection against heat and noise of the engine. This in turn is driving the market of microcellular polyurethane foam. The others application segment includes gaskets & sealants, shoe soles, cushions, pillows, mattresses, sports, and so on. The growing demand of these products by the end use consumers has boosted the growth of this segment.

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Asia-Pacific dominated the global microcellular polyurethane foam market in 2015 and accounted for a largest share, followed by Europe and North America. The market in this region is experiencing increased microcellular polyurethane foam consumption in automotive and building & construction industries. In terms of value, the microcellular polyurethane foam market in China is expected to witness a highest growth during the forecast period.

Leading players such as Evonik Industries, AG, BASF, and Dow Company deploying multiple strategies to strengthen their position in Impact modifiers market

Impact modifiers is a growing market with a significant number of global and regional players. The major companies operating in the impact modifiers market include E. I. du Pont de Nemours & Co. (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Evonik Industries AG (Germany), Clariant AG (Switzerland).

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These companies have been adopting various strategies, such as new product launches, mergers & acquisitions, and others in order to grow and strengthen their foothold in this market. New product launches is the most preferred growth strategy adopted by large companies to cater to the diverse needs of their customers.

More than half of Arkema’s research & development expenditure is allocated to green chemistry. The company is primarily focused on innovating new products in the field of impact modifiers, and providing customers with energy-efficient products that are developed from renewable sources. For instance, Arkema launched Lotryl T, a new copolymer that functions as impact modifiers for PET Straps in April, 2016.

Clariant is another leading company in the chemical industry. Clariant’s strategy is concentrated mainly on four strategic initiatives, namely, profitability of essential businesses, research & development and innovation, expansion of company’s competitive position in global growth markets, and optimization of the product portfolio. Clariant introduced lightweight plastics and additives for under-the-hood, interior and exterior parts of vehicles, especially for China’s local automotive and transportation industry in September, 2014. The company also provides additives for the commonly-used plastics, such as PP, PA, PUR, and ABS, thereby enhancing its presence in the automotive sector in China. Clariant entered into a distribution agreement with Connell Brothers Co. Ltd. (U.S.) to supply additives, waxes, polymer additives, and flame retardants in Australia in July, 2013. This development strategy helped the company to enhance and develop Clariant’s business in the Asia-Pacific region.

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Furthermore, companies operational in this market have also been focusing on alliances and collaborations, establishment of R&D centers, and partnerships to increase their market presence. This has further helped them to increase their market share in emerging economies.

Bioplastics & Biopolymers Market worth $14.92 billion | CAGR value of 16.5%

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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The high growth of the packaging industry coupled with increasing regulations related to renewable packaging materials are leading to the increasing use of bioplastics over conventional plastics. This has propelled the consumption of bioplastics in packaging, which, in turn, is projected to drive the bioplastics & biopolymers market.

Market Dynamics

Drivers

• Increasing use of bioplastics in the packaging end-use industry
• Increase in waste management regulations in Europe
• Favorable government policies
• Increased focus on bio-based content rather than biodegradability
• Increasing concern for human health 

Restraints

• High price of bioplastics

Opportunities

• Development of new applications
• High potential in Southeast Asian countries

Challenges

• Segregation and processing of bioplastics
• Fluctuation of oil prices
• Performance limitations of bioplastics & biopolymers
• Limited regulations related to bioplastics in developing countries

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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. 

Europe is the largest bioplastics & biopolymers market and is one of the major producers of plastics. It is also one of the leading packaging markets, globally. 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.

Aerospace is the largest application segment of the CFRTP market, in terms of value and volume

The CFRTP Market was valued at USD 680.0 Million in 2015, and is projected to reach USD 1,690.3 Million by 2026, at a CAGR of 8.66% between 2016 and 2026. CFRTP is widely utilized for varied applications such as aerospace, automotive, and consumer durables, owing to its superior properties, low maintenance, and long product life.

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Major applications of the CFRTP market include aerospace, automotive, and consumer durables. The aerospace application segment accounted for the largest share of the CFRTP market in 2015, in terms of value and volume. CFRTP encompasses various properties including lightweight, easy to construct, dimensional stability, and resistance against chemicals as well as operational stability at high temperatures in comparison to other conventional materials, such as thermoset composites and metallic alloys. The superior properties of CFRTP have contributed to the extensive usage of CFRTP in the aerospace industry.

In this study, the years considered to estimate the market size of CFRTP are:

• Base Year – 2015
• Estimated Year – 2016
• Projected Years – 2021 & 2026
• Forecast Period – 2016 to 2026

North America is expected to be the fastest-growing market for CFRTP during the next five years. One of the most significant factors contributing to the growth of CFRTP market in North America is the increasing demand for CFRTP from the aerospace and automotive industries. Aerospace industries such as Airbus S.A. (France) and Boeing (U.S.) utilize CFRTP for producing combat and cargo transport aircraft, owing to its superior properties in comparison to other composite materials. North America is also expected to be the fastest-growing market for CFRTP in the next five years.

Key players operating in the CFRTP market include Solvay S.A. (Belgium), Royal Ten Cate N.V. (Netherlands), Teijin Limited (Japan), Toray Industries, Inc. (Japan), SGL Group (Germany), Celanese Corporation (U.S.), Covestro AG (Germany), PolyOne Corporation (U.S.), PlastiComp, Inc. (U.S.), and Aerosud (South Africa), among others. These players have adopted various organic and inorganic developmental strategies over the past five years.

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