Medical Adhesive Tapes Market- Future Demand, Market Analysis up to 2022

The medical adhesive tapes market is expected to grow from an estimated USD 6.64 billion in 2017 to USD 8.76 billion by 2022, at a CAGR of 5.69%. The high growth of the Asia Pacific medical adhesive tapes market can be attributed to the increased demand for medical adhesive tapes from emerging economies, such as India, China, Taiwan, South Korea, Vietnam, and Singapore, among others. The medical adhesive tapes market in China is growing rapidly and this trend is expected to continue till 2022, in terms of production and supplier activities, owing to low labor costs in the country. In addition, the demand for medical adhesive tapes in various applications is increasing rapidly, including surgeries, wound dressings, splints, secure IV lines, and ostomy seals, among others.

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China is leading the Asia Pacific medical adhesive tapes market. The growth of the China medical adhesive tapes market is due to its large population, availability of cheap labor, easy accessibility to raw material, lower taxes, and less stringent environmental regulations for the manufacture of medical adhesive tapes.

Among resin types, the silicone segment of the medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period. Silicone adhesive tapes are gentler than traditional acrylate adhesives, as per clinical research. The performance of silicone adhesive tapes is excellent on low surface energy substrates. Major players are planning to increase the production capacity of silicone medical adhesive tapes considering future demand, as these are widely used for fragile skin such as infants and elderly patients with co-morbidities which cause the skin to become more fragile.

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Among applications, the secure IV lines segment of the medical adhesive tapes market is expected to grow at the highest rate from 2017 to 2022. These are useful due to factors such as increased security, decreased risk of infection, and improved site visibility.

3M Company (US), Medtronic Plc (Ireland), Nitto Denko Corporation (Japan), Johnson & Johnson (US), Smith & Nephew Plc (UK), Nichiban Co., Ltd. (Japan), PAUL HARTMANN AG (Germany), and Avery Dennison Corporation (US), among others are the key players operating in the medical adhesive tapes market.

Synthetic oil is expected to lead the refrigeration oil market

The refrigeration oil market size is projected to reach USD 1.4 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 4.7%. The growth of the market is driven by the increasing demand for consumer appliances, growing demand from food & pharmaceutical industries, and rising demand for low GWP refrigerants. Also, increasing consumption of packaged food products is expected to drive the refrigeration oil market. APAC is the key market for refrigeration oil, globally, followed by North America and Europe.

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

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Emerging economies are witnessing rapid urbanization along with a rise in disposable income. The consequent increase in the standard of living and growing consumption of convenience/packaged food products, coupled with the mass adoption of vaccines and drugs will drive the demand for refrigerators, freezers, air conditioners, and automobile HVAC systems. This will fuel the demand for refrigeration oil, ultimately driving the refrigerator oil market.

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

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

Monochloroacetic Acid is used in various applications such as CMC, agrochemicals, surfactants, TGA, and others

The monochloroacetic acid (MCA) market is estimated at USD 762.6 million in 2017 and is projected to reach USD 908.9 million by 2022, at a CAGR of 3.6% between 2017 and 2022. The growth of the market is driven by the increasing demand of MCA for the production of CMC, agrochemicals, and surfactants, which are used in the building & construction, food & beverage, pharmaceutical, agriculture, and oil & gas industries. In addition, rising GDP, growing disposable income, and rapid urbanization in developing countries have also contributed to the demand for MCA, globally.

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CMC
MCA is one of the major ingredients used in the manufacturing of CMC. CMC is used in a wide range of products including food, pharmaceuticals, oil field admixtures, cosmetics, and textiles. CMC is produced by reacting MCA with cellulose in an alkali-catalyzed reaction, followed by the addition of sodium hydroxide (NaOH) to produce sodium salts. CMC can be produced in three grades.

The resultant mixture from the initial reaction called technical CMC is used mainly in the production of detergents. A more purified form which is obtained after the removal of salts is used in industries such as food, pharmaceutical, and oral health care. An intermediate form of CMC is used in the paper industry to restore old documents for archives.

Agrochemicals
In agrochemicals, MCA is mainly used as a chemical intermediate for the formulation of herbicides and pesticides. Chloroacetic acid and methyl chloroacetate are also used for producing insecticides, such as dimethoate, 2-methyl-4-chlorophenoxyacetic acid (MCPA), benazoline, and methyl b-naphthyloxyacetate. These are prepared by alkylation with chloroacetic acid and are some of the most widely used herbicides and pesticides, globally.

Surfactants

MCA is also used in the production of mild betaine amphoteric surfactants, for instance, N-alkyl betaine, which are used in cleaners and personal care products. Amphoteric surfactants are chemicals, which can form cation or anion from hermaphroditic ions. They are mainly formed through the alkylation of chloroacetic acid. Amphoteric surfactants have low toxicity, antibacterial properties, excellent resistance to hard water, and good compatibility with various kinds of surfactants. These are used in the personal care products, such as shampoos, shower gels, liquid soaps, and other cosmetics. These are also used in the production of liquid detergents used in applications such as dishwashing liquids, all-purpose cleaners, and car cleaners.

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Asia Pacific is projected to be the largest market for MCA during the forecast period. The demand for MCA is high in this region due to the large industrial base and improving lifestyles of the population. In addition to this, the increasing use of MCA for applications such as CMC, agrochemicals, and surfactants in emerging economies, such as India, China, and Indonesia also drive the Asia Pacific MCA market.

Some of the key players in the MCA market include AkzoNobel (Netherlands), CABB (Germany), Daicel Corporation (Japan), PCC SE (Germany), Niacet Corporation (US), Shandong Minji Chemical (China), Denak Co. (Japan), Kaifeng Dongda Chemical Company (China), and Meridian Chem-Bond (India). Joint venture and acquisition were the major growth strategies adopted by the market players between 2014 and 2017 to cater to the demand for MCA in emerging economies.

Key Strategies Adopted by Industry Players to Strengthen their Positions in the Global Hindered Amine Light Stabilizers (HALS) Market

The global market for Hindered Amine Light Stabilizers (HALS) is projected to reach USD 1.15 Billion by 2022, at a CAGR of 7.1% from 2017 to 2022. The growing demand from major application industries such as packaging, automotive, and other industrial applications in emerging economies, are driving the global HALS market.

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New product developments and agreements were the key strategies adopted by industry players to strengthen their positions in the global HALS market, with the North American region witnessing the highest number of strategic initiatives from 2011 to 2016. Expansions was the preferred strategy in this region. Companies such as BASF SE (Germany), SONGWON Industrial Co., Ltd (Korea), Valtris Specialty Chemicals (US), Double Bond Chemical Ind. Co. Ltd. (Taiwan), Eutec Chemical Co., Ltd. (Taiwan), Ziko Co., Ltd. (South Korea), Lycus Ltd., LLC (US), Western Reserve Chemical Corporation (US), MPI Chemie B.V. (Netherlands), Chemsfield Korea Co. Ltd. (Korea), Rianlon Corporation (China), Sovereign Chemical Co. (US), and Lambson Ltd. (UK) were the most active players in the HALS market in the region.

BASF SE (Germany), Clariant AG (Switzerland), Cytec Solvay Group (Belgium), ADEKA CORPORATION (Japan), Chitec Technology Co. Ltd. (Taiwan), SUNSHOW (China), SABO S.p.A (Italy), Mayzo, Inc. (US), Everspring Chemical Co., Ltd. (Taiwan), Everlight Chemical Industrial Corporation (Taiwan), Beijing Tiangang Auxiliary Co., Ltd (China), and Qingdao Jade New Material Technology (China) are profiled in the report. For instance, BASF SE (Germany) launched five high-performance products under its Tinuvin DW (N) product range for water-based systems, and Tinuvin 249 for cost-efficient and durable color proof coatings of HALS products in 2016 and 2017 respectively for applications in automotive interior parts.

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ADEKA CORPORATION (Japan), Chitec Technology Co. Ltd. (Taiwan), SUNSHOW (China), SABO S.p.A (Italy), Mayzo Inc. (US), Everspring Chemical Co. Ltd. (Taiwan), Everlight Chemical Industrial Corporation (Taiwan), Beijing Tiangang Auxiliary Co. (China), and Qingdao Jade New Material Technology (China) are recognized as innovators in the HALS market. They have innovative products and the potential to build strong strategies for business growth to be at par with visionary leaders. For instance, in June 2013, Chitec Technology Co. Ltd. launched two new HALS products, Chiguard 129 for PET, PC, and Nylon and Chiguard 106, a low molecular weight HALS, for various polymers. These enhanced & innovative developments have added to their product portfolio and are expected to help increase the company’s geographical reach.

Growing demand from the food packaging and pharmaceutical industry to drive the Thermoforming Plastic market growth

The thermoforming plastic market size is estimated to be USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% during the forecast period. The food industry represents the largest consumption group for thermoforming plastics. The key classifications found in the food & agriculture packaging industry include fresh produce, processed food, and non-perishables. As thermoforming plastic provides better protection from moisture, bacteria, and odor, it is ideal for packaging food for a more extended period. Blister packaging is the predominantly used type of thermoforming plastic in the medical sector, as it is easy to peel and convenient to handle. Moreover, pharmaceutical products require protection from moisture, leakage, microorganisms, and other environmental conditions, which is provided by blister packaging.

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In-mold labeling (IML) technology in the thermoforming market is has made the manufacturing process cost-effective. Now, companies are introducing new products with IML, especially in the European market. IML has enormous potential to penetrate in other regions as well. IML allows the manufacturers to save time and money by integrating the labeling process directly into the thermoforming process. This new technology of IML enables the thermoformers to save up to 20% in resin cost by light-weighting containers with IML. IML technology is a huge opportunity for thermoformers in the thermoforming plastic market.

Rising demand from emerging economies such as China, India, and Brazil is the potential opportunity in the market. The increase in per capita income, double-income families, industrialization, and technological advancements in manufacturing could lead to tremendous growth in the thermoforming plastic market in these countries. The rise in living standards and changes in lifestyles in developing countries contribute to the development of the convenience packaging market and consequently impact the thermoforming plastic market. According to the India Brand Equity Foundation (IBEF), the Indian healthcare sector is projected to progress at a 15% CAGR to reach USD 158.2 billion by 2017. However, the biggest challenge for market growth is compliance with stringent regulations for thermoforming plastic.

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The top players in the thermoforming plastic market have implemented various strategies in the market. For instance, in April 2018, Sonoco Products Company (US) acquired Highland Packaging Solutions (US), a leading manufacturer of thermoformed packaging for fresh fruits, vegetables, and eggs. This helped the company to expand its thermoforming packaging capabilities for fresh products. In September 2018, D&W Fine Pack LLC expanded its line of TamperSmart brand packaging. This was done to provide even more products with tamper-evident features. This helped the company to fulfill the growing demand for the grab-and-go sector of food packaging.

High Performance Fluoropolymer Market – Global Opportunity, Growth Analysis up to 2024

The high performance fluoropolymer (HPF) market is projected to grow from USD 3.3 billion in 2019 to USD 4.6 billion by 2024, at a CAGR of 6.9% during the forecast period. The growth of the high performance fluoropolymer industry can be attributed to its high demand from various end-use industry and growing demand from PV installations.

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PTFE is the most widely used type of HPF and accounted for the largest market share. There is an increase in the use of dispersion and fine powder PTFE, for various applications, especially in North America and APAC. It is used in a wide range of applications such as semiconductor, automotive components, electrical appliances, and non-stick cookware. The growing applications in the electrical & electronics industry are expected to trigger the demand for PTFE, especially in advanced batteries and fuel cells.

Scope of the Report:

Report Metric	Details
Base year considered	2018
Forecast period	2019–2024
Units considered	Volume (Kiloton) and Value (USD)
Segments	Type, Form, End-use Industry, and Region
Regions	North America, APAC, Europe, and RoW
Companies	The Chemours Company (US), Daikin Industries, Ltd. (Japan), 3M (US), Solvay SA (Belgium), AGC (Japan), The Dongyue Group (China), Gujrat Fluorochemicals Ltd. (India), Halopolymer OJSC (Russia), Hubei Everflon polymer (China), and China Reform Culture Holdings Co. Ltd (China). Total 10 major players covered.

This research report categorizes the HPF market based on type, form, end-use industry, and region.

By Type:

• PTFE
• FEP
• PFA/MFA
• ETFE
• Others (Includes ECTFE and PCTFE)

By Form

• Coatings
• Films & Membranes
• Tubing
• Others (Includes wire & cable, mechanical components & parts, additives, and liners)

By End-use Industry

• Industrial Processing
• Chemical processing
• Oil & Gas
• Power Plants
• Water Treatment
• Food Processing
• Transportation
• Automotive
• Aviation
• Electrical & Electronics
• Telecommunication
• Semiconductors
• Electronic Components
• Defense Electronics
• Medical
• Medical Devices
• Pharmaceutical & Biotechnology
• Others
• Building & Construction
• Consumer Household

By Region

• North America
• APAC
• Europe
• RoW

The HPF market has been further analyzed based on key countries in each of these regions.

APAC is expected to be the fastest-growing market for HPF, owing to the presence of large manufacturing and highly populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the HPF market in this region. In 2018, China accounted for the largest share of the APAC market, owing to the presence of huge chemical, automotive, medical, and electronics industries. The growing production of automobiles, consumer household, medical disposables, and their increasing demand across the region boosts the demand for HPF. Growth in the manufacturing of automobiles and electronics hardware across the region is expected to grow further with changing demographics. Owing to which APAC is projected to be the fastest-growing HPF market.

Hot Mix Technology held the largest share of the Global Asphalt Additives Market

Hot mix asphalt is durable, resistant to moisture damage and thermal cracking. It also provides excellent workability and skid resistance. This segment is growing due to developments in the construction of high traffic roads like such as highways, race tracks, and airfields.

The asphalt additive market is projected to grow from USD 3.6 billion in 2019 to USD 6.3 billion by 2029, at a CAGR of 5.7%. 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.

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Governments of countries such as, China, India, Malaysia, and Indonesia in the Asia Pacific region have invested in infrastructure development, which includes the construction of new highways and freeways. This has lead to the growth of the asphalt additives application segment.

Based on type, the asphalt additives market has been segmented into:

• Polymeric Modifiers
• Anti-strip and adhesion promoters
• Emulsifiers
• Chemical Modifiers
• Rejuvenators
• Fibers
• Flux Oil
• Colored Asphalt
• Others

1. Organic Materials
2. Rubber Modifiers

Based on Technology the asphalt additives market has been segmented into:

• Hot Mix
• Cold Mix
• Warm Mix

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The Asia-Pacific region was the largest market for asphalt additives in 2018, owing to the increasing demand for asphalt additives products in developing economies, such as India and China. China is the leading consumer of asphalt additives products in the Asia-Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia-Pacific asphalt additives market.

Key Market Players

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), Kao Corporation (Japan) are some of the leading players operating in the asphalt additives market. These players have adopted the strategies of expansions, new product developments, acquisitions, and collaborations to enhance their position in the market.