The construction industry has the largest market share in the global phenolic panel

 

Phenolic panels are used in the interior, exterior, furniture, and various other applications of end-use industries, such as construction, marine, aerospace & defense, and transportation, to name a few. The main purpose of these phenolic panels is to offer fire-resistance and moisture-resistance properties. For instance, phenolic panels are used in the exterior cladding, partitions, cubicles, and other applications to prevent fire accidents. The global phenolic panel market size was USD 1.7 billion in 2020 and is projected to reach 2.4 billion by 2025, registering a growth of 6.5%.

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Phenolic panels used in the hot bond process comprises the major share of the market

The hot bond segment dominated the market in terms of value in 2019. Adhesives used in the hot bond process offers a strong, long-lasting repair with minimal risk of tearing, snagging, and other wear to the belt. They are mostly polyurethane-based and have a high demand for rubber conveyor belt repairing in the mining & quarrying industry.

Interior is the largest application of phenolic panel

Amongst all applications, the interior is the largest application of phenolic panel. Phenolic panels are used extensively for aircraft interior, railway interior, decorative interior in construction, partitions, and cubicles in various end-use industries. Superior fire-resistance and chemical resistance offered by the phenolic panel is responsible for the high consumption in an interior application.

Europe is the largest phenolic panel market globally.

The phenolic panel market is segmented based on region into Europe, North America, APAC, MEA, and South America. Europe is the major consumer of phenolic panels owing to the high demand from the UK, Germany, and other European countries. The UK is the leading market in the region. Major applications of phenolic panels in the European market include building interior, aircraft interior, exterior cladding, furniture, and air conditioning duct panels, among others. The growth of the market is also attributed to the presence of established manufacturers and technological advancement related to the development of phenolic panel products.

The key players in the market include Kingspan Group (Ireland), Wilsonart LLC(US), Asahi Kasei Corporation (Japan), Fiberesin Industries Inc. (US), Broadview Holding B.V. (Netherlands), Fundermax GmbH (Austria), Bobrick Washroom Equipment, Inc. (US), Werzalit of America, Inc. (US), ASI Group (US), and General Partitions Mfg. Corp. (US).These companies are adopting various inorganic and organic strategies to increase their foothold in the phenolic panel market.

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Polymer Modified Cementitious Coatings Market worth $1.5 billion by 2025, at a CAGR of 6.5%

The polymer modified cementitious coatings market in 2020 is estimated at USD 1.1 billion and is projected to reach USD 1.5 billion by 2025, at a CAGR of 6.5% from 2020 to 2025. The growth of this market can be attributed to the increasing demand for polymer modified cementitious coatings from the residential buildings sector. In addition, government initiatives to support infrastructural developments in the Asia Pacific region are anticipated to drive the growth of the polymer modified cementitious coatings market. Furthermore, outbreak of COVID-19 pandemic is anticipated to hamper the consumption of polymer modified cementitious coatings which affects the market growth.

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Flexible segment is projected to grow at the highest CAGR of the polymer modified cementitious coatings market

The flexible segment is estimated to lead the polymer modified cementitious coatings market in 2020. The growth can be attributed to superior waterproofing performance, excellent durability compared to non-flexible coatings, Flexible cementitious coating material has denser structure, better waterproofing performance, and excellent durability compared to non-flexible or rigid cementitious coatings. Flexible cementitious coatings are applied to objects which are subject to shrinkage, vibration, movement, stress, and crack formation and to substrates which are difficult to stick to, such as wood, steel, aerated lightweight blocks, and gypsum.

Acrylic polymers segment accounts for the largest share of the polymer modified cementitious coatings market

The acrylic polymers segment is estimated to lead the polymer modified cementitious coatings market in 2020, due to the rising demand due to increasing use of acrylic-based polymer modified cementitious coatings in residential buildings applications. Further, acrylic-based polymer modified cementitious coatings are low in alkali content, fast-setting, and high strength properties. These are also used for patching small cracks, holes, honeycombs, and surface defects over half-inch in depth. They are used in waterproofing floors, columns, beams, slabs, loading docks, and precast walls. They are also used for the protection of concrete structures from vapor, chloride ions, acidic gas, and alkali attacks.

Asia Pacific is expected to witness the fastest growth in the polymer modified cementitious coatings market during the forecast period

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, Autralia, and India has caused a decrease in the consumption of polymer modified cementitoi.

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 coatings market.

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The growing need to reduce CO2 emissions from industrial and power plants drives the demand for Carbon Capture, Utilization, and Storage system

Carbon capture, utilization, and sequestration (also referred to as CCUS) is a process that involves capturing carbon dioxide (CO2), transporting it through pipelines, ships, and other modes of transport and storing it under the Earth’s surface to prevent CO2 emissions. This process is highly useful for curbing CO2 emissions, which lead to a better atmosphere. The growing need to reduce CO2 emissions from industrial and power plants drives the demand for CCUS system. The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period.

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Growing concerns about climate change are responsible for the increasing adoption of CCUS to reduce emissions. CCUS captures CO2 via various methods and use or store it to avoid its release into the atmosphere. The use of fossil fuels and natural gas to produce electricity are the major sources of CO2 emissions around the world. CCUS can prevent greenhouse gases from entering the atmosphere. 

Capture holds the major share of the carbon capture, utilization, and storage.

Capture is the first stage of the CCUS process and involves capturing CO2 from its emission source. It can be applied to any large-scale emission process, including coal-fired power generation plants; gas and oil production; and manufacturing industries, such as cement, iron, and steel. The capture service segment holds the majority of the share in the CCUS market. Moreover, the high cost of capturing in the power generation, iron & steel, cement, and other sectors is one of the major reasons behind the high market share of the capture segment. 

Oil & gas accounted for the largest market share in the global carbon capture, utilization, and storage market in terms of value.

Oil & gas is the dominating end-use industry in the carbon capture, utilization, and sequestration market. Various natural gas processing CCUS projects in MEA, North America, and Europe is key support or the high market size in the oil & gas industry. Increasing usage of EOR in the oil & gas industry is also driving the growth of oil & gas industry in the carbon capture, utilization, and sequestration market

COVID-19 has merely put any effect on the market, which is expected to grow at a significant rate in 2020 as well, owing to continuous investment in the field of carbon capture and sequestration. Currently, CCUS is being largely used across natural gas processing plants and power generation plants. The operations of these plants were not affected by the COVID-19 pandemic; as a result, lockdown imposed due to the pandemic posed very minimal impact on the CCUS market.

North America is expected to account for the largest market share in the carbon capture, utilization, and storage market during the forecast period.

North America is the largest carbon capture, utilization, and sequestration market owing to the presence of multiple large-scale CCS facilities in the US and Canada. Century plant, Shute Creek Plant, BPundaryy Dam, Petra Nova Plant, ENID Fertiliser plant are some few projects that are operational in eth US and Canada, The carbon capture, utilization, and storage market in North America is expected to be driven by rising environmental concerns in the region. Current operational projects in eth region include Boundary Dam (Canada), Petra Nova (US), Alberta Carbon Trunk Line (ACTL (Canada), and ENID Fertiliser plant (US), among others .

The key players in the global carbon capture, utilization, and sequestration market a Royal Dutch Shell (Netherlands), Aker Solutions (Norway), Mitsubishi Heavy Industries, Ltd. (Japan), Linde PLC (UK), Hitachi, tLd.(Japan), Exxon Mobil Corporation (US), JGC Holdings Corporation (Japan), Honeywell International, Inc. (US), Halliburton (US), and Schlumberger Limited (US).

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Optimal energy saving performance of insulating glass windows driving the market

The insulating glass window market is projected to grow from USD 12.8 billion in 2020 to USD 16.2 billion by 2025, at a CAGR of 4.8% from 2020 to 2025. The major reasons for the growth of the insulating glass window market include the optimal energy saving performance of insulating glass windows, the growing construction industry in regions like the Middle East and Asia Pacific, and the rising demand for value added glass products. These factors are responsible for driving the demand for insulating glass window market.

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Global energy demand continues to grow despite the historical high prices and mounting concerns over energy security. In order to address the issue of energy supply and demand, improving the energy efficiency of homes, businesses, schools, government buildings, and industries is imperative and inevitable. According to the U.S. Department of Energy (DOE), heating, cooling, and lighting of buildings account for 25% of the country’s total energy costs. This is expected to enhance the use of insulating glass windows for building insulation applications.

Commercial constructions that use insulating glass windows include commercial buildings, offices, hotels, hospitals, educational institutes, stadiums, and airports. Insulation helps reduce the heating and cooling loads of commercial buildings, manages indoor climate temperature, and reduces noise pollution, thus resulting in a more environmentally sustainable building. Furthermore, the increasing demand for Green Buildings in the commercial construction segment has been observed globally. These factors are expected to enhance the insulating glass window market during the forecast period.

Asia Pacific is projected to be the fastest-growing market during the forecast period. Growing demand for insulating glass window due to the increasing investments in the commercial construction sector, as well as government initiatives that support the use of insulating glass windows in commercial buildings. Furthermore, the presence of leading insulating glass window manufacturers is expected to drive the insulating glass window market in the region.

Compagnie de Saint-Gobain SA (France), AGC Inc. (Japan), Guardian Glass (US), Nippon Sheet Glass Co. Ltd. (Japan), and Central Glass Co., Ltd. (Japan) are some of the leading players operating in the insulating glass window market.

Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), and H.B. Fuller (US) are the key players in the adhesives & sealants for insulating glass window market..

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The food & agriculture packaging end-use industry is expected to be the largest consumer of thermoforming plastic, globally

The thermoforming plastic market is projected to grow from USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7%. The thermoforming plastic industry is growing due to the rising healthcare & pharmaceuticals and food & agriculture packaging industries and increasing manufacturing activities. The increasing popularity of retail shopping and rising consumer spending for processed & packed goods are fuelling the demand for thermoforming plastic. Factors such as changing demographics and lifestyles have shifted the market toward e-retailing channels and convenient packaging, which in turn will drive the demand for thermoforming plastic.

Browse 143 market data Tables and 50 Figures spread through 173 Pages and in-depth TOC on "Thermoforming Plastic Market by Plastic Type (PP, PS, PET, PE, PVC, Bio-plastics, ABS), Thermoforming Type (Vacuum Formed, Pressure Formed, Mechanical Formed), Parts Type (Thin Gauge, Thick Gauge), End-use Industry, and Region - Global Forecast to 2024"
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Thermoforming plastic finds application in food & agriculture packaging, healthcare & pharmaceutical, construction, electrical & electronics, automotive packaging & structures, consumer goods & appliances, and others. Food & agriculture packaging industry dominated the thermoforming plastic market in terms of value in 2018. This growth is attributed mainly to the huge demand for packaged and branded products. Thermoforming plastic provides better protection during transportation and uses safe packaging materials; hence, they are preferred in the food & agriculture packaging industry.

The thermoforming plastic market is segmented based on plastic-type as polypropylene (PP), polystyrene (PS), polyethylene terephthalate (PET), polyethylene (PE), polyvinyl chloride (PVC), bioplastics, acronytrile butadiene styrene (ABS), and others. The global thermoforming plastic market is dominated by the PP, in terms of value and volume. This is due to the extensive use of this plastic in packaging applications such as food, medical device, and automotive. The excellent strength-to-weight ratio, excellent energy management, resilient, good chemical resistance, and durability make it an ideal choice for packaging applications.

North America accounted for the largest share in the global thermoforming plastic market. Technological advancements in the packaging industry primarily drive the market in this region. The demand for thermoforming plastic will be driven by factors such as increasing electronic goods sales, high disposable income, increasing demand for packaged foods, and demographic changes. The region is characterized by continuous technological advancements in the thermoforming plastic industry with the presence of some key regional players such as Pactiv LLC, Sonoco Products Company, D&W Fine Pack LLC, Fabri-Kal Corporation and Dart Container Corporation.

The US is a key market in North America. The increasing demand for consumer durables will drive the market for in the U.S. as thermoforming plastic finds growing use in it. The demand for thermoforming plastic in the US is likely to witness robust growth during the forecast period, as a result of the rising trend of retail shopping.

The thermoforming plastic market comprises major solution providers, such as Fabri-Kal Corp. (US), Berry Global Inc. (US), Genpak LLC (US), Pactiv LLC (US), D&W Fine Pack LLC (US), Amcor Ltd. (Australia), Dart Container Corp. (US), Anchor Packaging (US), Sabert Corporation (US), Sonoco Products Company (US). The study includes an in-depth competitive analysis of these key players in the thermoforming plastic market, with their company profiles, recent developments, and key market strategies. 

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Impact Modifiers Market worth $5.0 billion by 2025, at a CAGR of 5.3%

The global impact modifiers market size is estimated at USD 3.9 billion in 2020 and is projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. Impact modifiers are additives that enable plastic products to absorb shocks and protect these products from cracking or breaking. The use of impact modifiers improves the properties of polymers, such as impact strength, toughness, and hardness. The amount of impact modifier added depends upon the level of impact resistance needed for end-use applications.

The demand for high-quality plastics from various applications increases continuously, which favors the consumption of engineering plastics. Further, rising demand for applications, such as pipes & fittings, profiles & tubing, rigid sheet & panel, wires & cables, bottles, and others, is fueling the demand for PVC, which contributes to the impact modifiers market growth. Furthermore, the outbreak of the COVID-19 pandemic is anticipated to hamper the consumption of impact modifiers, which affects the market growth.

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PVC is the major application in the global impact modifiers market

PVC is the largest application segment of the impact modifiers market by application. The growth of impact modifiers in PVC application is mainly attributed to its easy availability and low cost as well as the increasing applicability of PVC among varied end-use industries, such as packaging, construction, automotive, and consumer goods. PVC is mainly used in pipes, windows, flooring, roofing, inflatable structures, and lighter structures. It contributes to the quality, cost-effectiveness, and safety of construction material.

Packaging is projected to grow at the highest CAGR of the impact modifiers market

Based on the end-use industry, the packaging segment is expected to grow at the highest CAGR in 2019. Increasing demand for plastic packaging with impact modifiers across varied industry verticals is expected to be one of the key factors propelling the growth of the impact modifiers market. The packaging is a crucial process in order to preserve and transport goods. It caters to various sectors such as retail, institutional, and industrial.

The impact modifiers 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 impact modifiers market in 2019. Moreover, the Asia Pacific region is an emerging and lucrative market for impact modifiers, owing to industrial development and improving economic conditions. The presence of a number of plastic products manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the impact modifiers market during the forecast period.

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Growing demand for furfuryl alcohol drive the Furfural Market

Furfuryl alcohol is a chemical, which is derived from furfural. Furfuryl alcohol plays a vital role in the production of foundry sand binders due to its high reactivity. This alcohol has been extensively used for producing cores and mold for metal for many decades. It is also used in the production of tetrahydrofurfuryl alcohol (THFA), which is widely used in the pharmaceutical industry. According to the World Foundry Organization, the foundry industry is expected to grow by 13.0-14.0% until 2025 in India, which is expected to be the second-largest foundry market in the world, after China. Therefore, the growing foundry industry is leading to the demand for furfuryl alcohol, thereby boosting the market for furfural.

The furfural market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9%. The increasing usage of various derivatives of furfural in different industries and shift toward green chemicals are propelling the market. 

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“The derivatives application is expected to register the fastest growth”

Furfural is used as the starting material for the manufacturing of several furan derivatives, such as furfuryl alcohol, tetrahydrofuran (THF), maleic anhydride (MA), 2-methyl tetrahydrofuran (MTHF), and 1, 5-pentanediol.

Furfuryl alcohol manufacturing dominates the global furfural market. Furfuryl alcohol is majorly used for the production of furan resin that is used as a foundry sand binder. According to the IKB Deutsche Industriebank, the foundry industry is expected to grow in the coming years, majorly driven by the emerging markets. The growth of the foundry industry is expected to increase the demand for foundry resins. This, in turn, is likely to drive the demand for furfuryl alcohol, globally. Also, with the increasing focus on biochemicals and biofuels, the demand for other furfural-based derivatives is increasing, thereby driving the demand for furfural.

“APAC was the largest furfural market in 2018.”

APAC led the overall furfural market in 2018. The main reason for the growth of the market in the region is China, which has 85% and 75% of global production and consumption of furfural, respectively. The demand is attributed to the growing foundry and pharmaceutical industries in China. In addition, Thailand has emerged as the second-largest producer and exporter of furfural in the region.

The leading players in the furfural market are Transfuran Chemicals (Belgium), Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation (China), KRBL(India), Lenzing (Austria), Tanin (Slovenia), and Shandong Crownchem Industries (China).

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