Growing demand for cost-effective cooling, and power efficient boilers is fueling the growth of economizer market

Economizers are mechanical devices that are used to make machines energy efficient by lowering their energy consumption. Economizers, owing to their exceptional characteristic of energy conservation and fuel saving, are been widely used in industrial boilers. Schneider Electric SE (France), Johnson Controls International plc (US), Alfa Laval AB (Sweden), Babcock & Wilcox Enterprises, Inc., (US), Honeywell International Inc. (US), Thermax Limited (India), Cleaver-Brooks, Inc. (US), SAACKE GmbH (Germany), SECESPOL Sp. z o.o. (Poland), STULZ Air Technology Systems, Inc. (US), Kelvion Holding GmbH (Germany), BELIMO Holding AG (Switzerland), Cain Industries (US), Sofame Technologies Inc. (Canada), Cannon Boiler Works (US), Shandong Hengtao Group (China), and MicroMetl Corporation (US) are key players operating in the economizer market.

Economizer Market was valued at USD 7.70 Billion in 2016 and projected to reach USD 11.54 Billion by 2022, at a CAGR of 6.7% from 2017 to 2022.  Among end-use industries, the industrial segment is projected to lead the economizer market from 2017 to 2022. The power plants application segment is expected to lead the economizer market. The Asia Pacific economizer market is projected to grow at the highest CAGR during the forecast period. The demand for economizers is expected to increase during the forecast period due to their increased used in various applications such as power plants, boilers, heating, ventilation, and air conditioning (HVAC), etc.

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Economizers in power plants are used as heat exchanger devices, which conserve the residual heat generated by boilers. The growing demand for electricity has led to the installation of new fossil fuel-based thermal power plants in various regions worldwide, which, in turn, is anticipated to drive the demand for economizers, globally. China, Japan, India, South Korea, Indonesia, and Australia are key countries considered for market analysis in this region. Increasing investments in the development of new power plants and upgrade of existing power plants as well as rising government initiatives for harnessing renewable and clean energy in various countries, such as China and India, are major factors driving the growth of the Asia Pacific economizer market.

Acquisitions, contracts, expansions, and collaborations are major growth strategies adopted by leading companies in the economizer market. These companies are also investing in R&D activities to strengthen their product portfolio and enhance their presence in the economizer market.

Schneider Electric SE is a global specialist in energy management and automation solutions. The company was founded in 1836 and is headquartered in Rueil-Malmaison (France). It operates through 4 business segments, namely, building, industry, infrastructure, and information technology. Schneider Electric SE offers energy saving products under its critical power, cooling, and racks segment. The company focuses on sustainable development and has a broad product portfolio, along with a wide industry coverage.

The company focuses on the adoption of both, organic and inorganic growth strategies to expand its geographic reach in the economizer market. For instance, in October 2016, Schneider Electric SE and Panasonic Corporation (Japan) jointly developed HVAC equipment and building management solutions to reduce energy consumption in various applications.

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Attractive Opportunities in the Foam plastics Market

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

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

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

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

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

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The Asia Pacific region is the largest market for thermally conductive grease across the globe

The Asia Pacific region led the thermally conductive grease market, in terms of both value as well as volume. The growth of the Asia Pacific thermally conductive grease market is due to the increased use of thermally conductive grease by different end-use industries in China, India, Japan, South Korea, and Rest of Asia Pacific. Improving economic condition in the region have led to an increased demand for automobiles, thereby fueling the growth of the thermally conductive grease market in the region. Moreover, the continuously increasing population of the region is also contributing towards increased demand for consumer products, which, in turn, is leading to the growth of the Asia Pacific thermally conductive grease market.

The thermally conductive grease market was valued at USD 273.0 Million in 2016 and is projected to reach USD 416.6 Million by 2022, at a CAGR of 7.3%. The growth of the thermally conductive grease market across the globe is fueled by the increased demand from the LED lighting industry in indoor and outdoor applications. There is an increasing demand for thermally conductive grease in Asia Pacific, Europe, North America, and South America.

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The LED lighting end-use industry is projected to lead the thermally conductive grease market during the forecast period, owing to the increased demand for thermally conductive grease from the indoor and outdoor LED lighting applications across the globe. The increased government initiatives to ban CFL and improve energy efficient lighting systems in various regions are expected to drive the market of LED lighting. This, in turn, is expected to drive the demand for thermally conductive grease during the forecast period.

New product launches, expansions, and mergers & acquisitions are the key growth strategies undertaken by the market players to maintain and enhance their position in the thermally conductive grease market. The growth of the thermally conductive grease market can be attributed to the increased demand from the electronics & electrical industry. Leading players in this market are also focusing on partnerships to increase their market shares.

Major manufacturers of thermally conductive grease, including Dow Corning Corporation (US), Electrolube (UK), Laird PLC. (UK), Momentive Performance Materials Inc. (US), 3M Company (US), Parker-Hannifin Corporation (US), LORD Corporation (US), Wacker Chemie AG (Germany), and Henkel AG & Co. KGaA (Germany) have been profiled in this report on the thermally conductive grease market. These companies adopted both organic and inorganic growth strategies to strengthen their position in the thermally conductive grease market.

Electrolube is the most active player in the thermally conductive grease market. It develops various types of thermally conductive greases to cater to the varied requirements of different end-use industries. The company has adopted the strategies of agreements, expansions, and new product launches to enhance its position in the market. As a part of its strategy, in July 2016, Electrolube expanded its reach to India by establishing a new manufacturing plant to produce encapsulation resins, conformal coatings, and thermal management materials.

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

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

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

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

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

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

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Polymer modified cementitious coatings are widely used in residential buildings application

The polymer modified cementitious coatings market is estimated to be USD 1.23 Billion in 2017 and is projected to reach USD 1.66 Billion by 2022, at a CAGR of 6.2%. 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.

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The growth of the residential buildings segment can be attributed to the increasing use of polymer modified cementitious coatings in various residential applications, such as exterior walls, driveways & sidewalks, and floorings. Furthermore, the growth of the real estate market in emerging countries of Asia Pacific and the Middle East & Africa has contributed to the growth of the polymer modified cementitious coatings market in the residential buildings segment.

The high demand for polymer modified cementitious coatings from the construction industry and infrastructural development in countries, such as China and India, are key factors driving the growth of polymer modified cementitious coatings market in the Asia Pacific region.

Key players operating in the polymer modified cementitious coatings market are BASF SE (Germany), Sika AG (Switzerland), Arkema S.A. (France), Fosroc International Limited (UK), Mapei S.p.A. (Italy), Akzo Nobel N.V. (Netherlands), The Dow Chemical Company (US), Saint-Gobain Weber S.A. (France), The Lubrizol Corporation (US), Evercrete Corporation (US), Celanese Corporation (US), Lafarge Malaysia Berhad (Malaysia), Flexcrete Technologies Limited (UK), Pidilite Industries Limited (India), H.B. Fuller (US), Organik Kimya San. ve Tic. A.S. (Turkey), and Berger Paints India Limited (India).

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Among end-use industries, the Commercial construction expected to lead the elastomeric membrane market

The elastomeric membrane market is projected to reach USD 41.10 Billion by 2022, at a CAGR of 6.7%. The elastomeric membrane market is expected to be driven by increasing residential and non-residential construction projects that are resulting in the growth of the construction industry. Moreover, regulations for energy optimization are increasing in order to address environmental concerns. Since elastomeric membranes such as TPO and EPDM contribute to energy savings, these regulations are expected to drive the elastomeric membrane market.

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On the basis of end-use industry, the elastomeric membrane market has been classified into residential construction and non-residential construction. The non-residential construction segment is both, the largest and the fastest-growing. Growing foreign investments in the construction industry, high-end commercial projects, and industrial development are expected to drive this segment. Growing construction of commercial buildings such as shopping malls, multiplexes, show rooms, institutional buildings, offices, and industrial buildings are resulting in the growth of the market. Industrial construction projects are also increasing due to growing manufacturing activity and growth in retail construction to meet consumer needs. These factors are cumulatively expected to result in high growth of the elastomeric membrane market in this sector.

Roofs & walls is the largest and fastest-growing application of the elastomeric membrane market owing to the high demand for sheet membranes in non-residential flat roofs. 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.

Based on region, the elastomeric membrane market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. The Asia-Pacific elastomeric membrane market is the largest and fastest-growing market due to substantial investments in residential and non-residential construction projects to meet the housing and infrastructural needs of the growing population. Cheap labor, cheap & accessible raw materials, and public infrastructure projects have boosted construction activities, thereby, increasing the demand for elastomeric membrane in this region.

The key players operating in the elastomeric membrane market are BASF, Sika, Carlisle Companies Inc., SOPREMA, Kemper System, Saint-Gobain, Firestone Building Products Company, Johns Manville, GCP Applied Technologies Inc., and Standard Industries Inc. These companies undertake dynamic business strategies that lead to propelling the growth of the elastomeric membrane market. However the market is restrained due to fluctuating raw material prices.

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Asia Pacific is projected to lead the global flock adhesives market

The global flock adhesives market is projected to grow from USD 2.35 Billion in 2017 to USD 3.18 Billion by 2022, at a CAGR of 6.3%. Applications of flock adhesives are increasing due to the increasing requirement for bonding dissimilar materials, substituting traditional materials with synthetic substrates, and increasing focus on reducing VOC emissions. From an engineering and design perspective, adhesives are valued because of their ability to bond dissimilar substrates, resist vibration, and distribute stresses over a wide area. Growth in applications, especially in the emerging markets of Asia Pacific, and the shift in consumer preference toward high-quality and decorative products are driving the growth of the flock adhesives market.

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The Asia Pacific, Europe, and North American regions are the major markets for flock adhesives. Asia Pacific has emerged as the leading customer of flock adhesives owing to the increasing demand from various applications in the region, increasing disposable income, and easy access to resources. The growth of the flock adhesives market in the Asia Pacific region is mainly driven by China, which is experiencing substantial growth fueled by the rising investments in the infrastructure required for establishing manufacturing facilities for flock adhesives in the country.

According to China Adhesive Association, China has maintained its position as the world’s leading market of flock adhesives, in terms of production and consumption. The growing middle-class population is one of the major drivers for the flock adhesives market in Asia Pacific (particularly China). The middle-class population in countries such as China and India have been shifting towards purchasing luxury products such as cosmetics, watches, jewelry, and other luxury items. This trend is further expected to increase the demand of flock adhesives, as flocks are extensively used in improving the aesthetics of luxury products.

Key players profiled in the report are Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), Kissel + Wolf (KIWO) (Germany), LORD Corporation (US), Nyatex (US), Stahl Holdings (Netherlands), International Coatings (US), and Gemteks Tekstil Boyalari (Turkey), among others.

Dow Chemical (US) has a strong position in the flock adhesives market and its consumer solutions business segment has a global presence. The company adopted partnerships & collaborations as a key strategy to enhance its position in the flock adhesives market. In June 2016, Dow Automotive and Aston Martin formed a technical partnership which is expected to facilitate an expansion of their collaborative development efforts. As a part of this partnership, a broader portfolio of Dow Automotive, including flock adhesives, will be utilized for Aston Martin production models and race cars. The company provides flock adhesives with a strong focus on green technologies in comparison to other companies. Dow Chemical also offers multiple brands of flock adhesives such as MOR-FLOCK and POLYFLOCK.

Sika AG (Switzerland) adopted the strategy of mergers & acquisitions to strengthen its position in the flock adhesives market. In 2015, Sika acquired Axson Technologies (US), a leader in the formulation of adhesives, composite materials, and encapsulation. The company has plans to expand its revenue and geographical presence with this acquisition and enhance its flock adhesive product offerings. Sika AG offers a wide range of flock adhesives under the brand names SikaMelt, SIKASENSE, and SikaTherm for automotive applications.

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