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Global Aerospace Adhesives & Sealants Market – Analysis and Forecast (2018-2024)
Aerospace adhesives are used in the exterior, interior, and engine compartments of aircraft. The engine contains retaining compounds, thread lockers, hydraulic system thread sealants, and others. Exterior panels includes wing spars, bonded, door moldings, and various others. The global aerospace adhesives and sealants market is expected to witness significant growth in the coming years, due to the versatility in the application of adhesives and sealants in the aerospace industry. The selection of adhesives is based on the substrates used and the requirement of the bond. The most common types of adhesives used in the aerospace industry are structural acrylic, epoxies, anaerobic, and cyanoacrylate.
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Geographic Overview
Asia-Pacific is projected to be one of the largest and fastest growing markets. This is primarily attributed to the increasing urbanization and growing population in the region. Due to the growing population and rising income, the air traffic of the region has increased significantly in recent years. Hence, to cater to the increasing demand, the production of aircraft has also been increased, resulting in the growth of the aerospace adhesives and sealants market.
Competitive Insight
The key manufacturers are investing more in research and development to provide aerospace adhesives and sealants which contain less volatile organic compounds and also comply with the specifications by OEMs at the same time. PPG Industries Inc., 3M Company, Huntsman Corporation, Cytec Industries Inc., Hexcel Corporation, Henkel AG and Company, Solvay Group, United Resin Corporation, Royal Adhesive and Sealants, and Beacon Adhesives Inc. are some of the major players operating in the aerospace adhesives and sealants market.
Industry Dynamics
Growth Drivers
Increasing air traffic, growing demand for lightweight materials for aircraft production are the major drivers witnessed in the aerospace adhesives and sealants market, which are contributing to the market growth. The demand of adhesives is increasing in the aviation industry for the construction of lightweight aircraft, as adhesives are ideal to connect materials reliably without adding weight. This also helps in reducing the fuel cost and maintains fuel efficiency. Aerospace adhesive solutions are used in various parts such as displays, AC, lights, cockpit doors, fasteners, and others.
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Global Dental Adhesive Market – Analysis and Forecast (2018-2024)
Dental Adhesives are water-soluble and non-toxic material that is placed between the denture and the tissues in the mouth. This is used to enhance the normal physiological forces which hold the denture in place. It helps in reducing the movement and slippage of dentures in the mouth while eating, speaking, laughing, coughing, and other such activities. The global dental adhesive market is registering good growth in recent years, due to the rising aging population, improper food habits in the young population, and other factors. Various types of adhesives for dental use are available in the market which provides superior bond strength, versatility, ease of use for dental bonding.
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Growth Drivers
Increasing awareness regarding dental health or oral hygiene, increasing population and rising income level, and rising demand of dental treatment related to cosmetics are the major factors driving the dental adhesive market. Dental health awareness is increasing across the world. According to a study conducted by the U.S. Centers for Disease Control and Prevention, the overall population, particularly young people with cavities in the country has dropped, due to the rising awareness for early care, resulting in market growth.
Geographic Overview
Europe is anticipated to be the largest contributor to the dental adhesive market growth. There are various factors contributing toward the market growth such as rising geriatric population, increasing incidences of dental diseases, growing dental tourism in selected European countries. However, Asia-Pacific is anticipated to register the fastest growth in the dental adhesive market during the forecast period.
Competitive Insight
Dentsply Sirona Inc., 3M Company, Glaxosmithkline PLC, Ultradent Products, Inc., Procter & Gamble Co. (P&G), Danaher Corporation, Voco GmbH, GC Corporation, Sun Medical Co., Ltd. and Tokuyama Dental Corporation Inc. are some of the key players operating in the dental adhesive market.
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Global Polypropylene Catalyst Market – Analysis and Forecast (2018-2024)
The global polypropylene catalyst market is registering good growth in recent years, owing to the increasing demand for catalysts to produce polypropylene for further use. Polypropylene is used in a wide range of applications such as food packaging, ropes, plastic parts, textiles, laboratory equipment, automotive components, and others.
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Geographic Overview
Asia-Pacific is anticipated to register the highest growth during the forecast period in the polypropylene catalyst market, which is mainly derived by the increasing demand from end-user industries which includes automotive, chemical, packaging, optical, and others. Also, the region is attracting foreign investors, owing to the benefits it offers such as low labor cost, easy availability of raw material, rising urban population, and others.
Competitive Insights
To enhance the market share in the polypropylene catalyst industry, the companies are adopting various strategies such as acquisitions, expansion, supply contracts, and many others. W.R. Grace & Co., Lyondellbasell Industries, Clariant, Lotte Mitsui Chemicals, Japan Polypropylene Corporation, Toho Titanium, INEOS AG, Sumitomo Chemicals, and Süd-Chemie are some of the key player's catalyst for polypropylene production.
Growth Drivers
The main factors driving the polypropylene catalyst market growth are the increasing production of polypropylene for various applications and growing research and development activities for the development of improved polypropylene catalyst. The production of polypropylene is increasing to meet the demand from various industries for different applications including packaging of consumer products, automotive products, textiles, housewares, medicines, tubing, and others. Moreover, polypropylene is one of the most commonly used plastic across the world, hence the demand for the same is increasing, resulting in the growth of the market.
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Global Formulation Additives Market – Analysis and Forecast (2018-2024)
Formulation additives are used to adjust the qualities of the adhesive formulation, which helps in improving the durability, efficiency, and appearance of the product. They are used in adhesive and sealant applications. The global formulation additives market is growing at a decent pace, due to the increasing use of these additives in a number of industries. The major objective of these additives is to enhance the properties and processing characteristics of materials in which they have been used. Also, the demand for these additives in the paints and coatings industry is significantly increasing, further boosting market growth.
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Industry Dynamics
Growth Drivers
The main factors driving the formulation additives market growth are the increasing population in the emerging countries, rapid industrialization, increasing demand from end-user industries. The population of emerging countries are increasing at a fast rate, and to meet the housing need of the increasing population, the builders are investing heavily in construction projects. Hence, the growing construction is driving the demand of these additives in the building and construction industry.
Industry Ecosystem
An extensive range of formulation additives is available in the market under various brand names. The formulation additives market is captured by the big players, which are consistently improving their product offerings and expanding their product portfolio, which is making it difficult for a small player to capture the market.
Geographic Overview
Asia-Pacific is the largest consumer of these additives and also expected to register the fastest growth in the formulation additives market during the forecast period. This can be attributed to the growing construction and transportation activities in the region, to meet the demand of the ever-increasing population. Also, the manufacturing of these additives is increasing in the region, as manufacturers are setting up manufacturing facilities in the region, to take advantage of cheap and easily available labor.
Competitive Insight
Key players in the formulation additives industry are investing in strategic locations such as Asia-Pacific to set up the manufacturing units, which can be attributed to the easy availability of cheap raw materials. BASF SE, Eastman Chemical Company, DowDupont Inc., Cabot Corporation, Allnex Technologies, Arkema Group, Evonik Industries, Momentive Performance Materials, Huntsman Corporation, and Akzonobel N.V. are some of the key players offering formulation additives products.
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Global Double Sided Tape Market – Analysis and Forecast (2018-2024)
Double-sided tape is the pressure-sensitive tape that is coated with adhesives on both sides. This tape is different from normal tape based on its suitability and utility for various applications. It is designed to stick two surfaces together in a way that they are not visible in the end product. The global double-sided tape market is growing at a good pace, owing to its growing application in various industries such as automotive, building and construction, electrical and electronics, and others. The market is witnessing an increase in demand, owing to its superior properties and utility as compared to traditional tape.
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Geographic Overview
Asia-Pacific is expected to register the highest growth in the double-sided tape market during the forecast period. The rising demand of this tape for various applications from emerging countries such as China, South Korea, Vietnam, and India are expected to drive the market growth, due to the rapid industrialization in these countries, which is also attracting foreign investors to invest in the region, fueling the growth of the market.
Competitive Insight
3M Company, Nitto Denko Corporation, TESA SE, Avery Dennison Corporation, Lintec Corporation, Intertape Polymer Group, Inc., Shurtape Technologies, LLC., Lohmann GmbH & Co. Kg, Nichiban Co. Ltd. and Mactac, LLC are some of the key players offering different double-sided tape.
Industry Dynamics
Growth Drivers
Increasing use and demand of these tapes in various applications, growing demand of acrylic and polyethylene form backed double-sided tape are the major factors driving the growth of the global double-sided tape market. The demand of these tapes is increasing in the market due to their wide application range in innovative applications. They offer versatility and are used in various industries such as automotive, aerospace, construction, and others. Some of the superior properties it offers over traditional normal tapes include, they are excellent for lamination, ideal for filling gaps for a tighter seal, and others, making it popular in the market.
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Global Coding and Marking Systems Market – Analysis and Forecast (2014 - 2024)
Global coding and marking systems market is projected to contribute USD 3.4 billion in 2017 and is expected to witness a CAGR of 7.0% during 2018–2024. Coding and marking are considered to be the most vital part of the manufacturing and logistics process in consumer and industrial products. It is the system that is extensively being used to print the details on the product and packaging relating to manufacturing date, lot size, expiry date, and other details in order to disperse authentic information to the customers. Moreover, these systems enable the manufacturers to track the products along with the enhanced focus of the manufacturers towards safety concerns, quality assurance of the product, and brand establishment.
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Industry Dynamics
Growth Drivers
The increasing retail sector and enhancing demand for FMCG offerings is the major factor contributing towards the growth of coding and marking systems globally. Furthermore, enhancing regulatory pressures from government agencies in order to fulfill the industry standards for this market is further bolstering the growth of global coding and marking systems across the globe. It has been observed that in the present scenario enlargement of an environment-friendly marking system is the existing market due to the introduction of several marking devices established upon biodegradable resin.
Geographic Overview
Geographically, Asia Pacific is expected to witness fastest growth of 8.4% during the forecast period due to extensive growth in the retail and industrial domain. Additionally, the emerging country in this region such as India is expected to further elaborate the global of this market in the near future. The implementation of legislative norms by the government of various countries in the region is expected to combat the situation of rapid penetration of piracy and counterfeiting. According to a recent report, it has been observed that China Food and Drug Administration has introduced reform for labeling of prepackaged products according to that norm the manufacturers operating in the food and beverage industry are required to adhere to certain norms such as the inclusion of detailed information pertaining to the name of the product, details of producer, storage condition, ingredients and identification of batch. Implementation of these regulatory reforms is thus driving the growth of this market in the Asia-Pacific
at a rapid pace.
Competitive Insight
Some of the major players operating in the coding and marking systems industry are ATD Marking Systems, Danaher Corporation, Inkjet Inc, ID Technology, Hitachi Ltd, Diagraph Group, Matthews International Corporation, Dover Corporation, Overprint Packaging Ltd., and Domino Printing Sciences plc.
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Global Polyimide Films Market – Analysis and Forecast (2014 - 2024)
The global polyimide films market was valued at USD 2.1 billion in 2017 and is further expected to become USD 4.1 billion by 2024. The rapid increase in this market is attributed to the increasing applicability of these films in the manufacturing segment of electronics and semiconductor components. Polyimide films comprise an exclusive amalgamation of thermal, electrical, mechanical, and chemical properties that resist vibration and extreme temperatures. These films are gaining huge popularity owing to their innovative design solutions provided to several industries such as wind energy, consumer electronics, aerospace, industrial applications, and automotive.
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Industry Dynamics
Growth Drivers
The increasing demand for polyimide films is widely being inclined towards the amplifying demand for electronic products across the globe. It has been observed that the polyimide films are being consumed in the production of flexible circuits that are dispersed in several consumer electronic products for instance in laptops and smartphones. The widespread application of these films in the aerospace sector due to their lightweight helps in improving the performance of the engine and helps in saving fuel is further bolstering the growth of the polyimide films market across the globe.
Moreover, the expanding demand for the consumption of lighter electronic products is anticipated to boost the growth of this market in the near future. Additionally, wireless communication and flexible displays are further expected to provide rewarding growth opportunities to the growth of this market by 2024.
Industry Ecosystem
Globally industry players are leveraging market growth through product innovations and constantly upgrading technology. The key players in this industry are selling superior quality polyimide film that holds an exclusive convergence of properties that makes it suitable for application in several industries across the globe.
Geographic Overview
Geographically, Asia Pacific is expected to witness the fastest growth of 10.8% in terms of value during the forecast period. The key countries that are attributing high demand for polyimide films in the region include China, Japan, South Korea, and India. The major factors that are driving the growth of this market include price deflation, increasing household incomes, and the up-gradation of technology. Moreover, these factors are further expected to escalate the growth of this market for polyimide films during the forecast period. Additionally, increasing disposable income and price deflation in this region have elevated the consumer electronic products demand that is further expected to drive the growth of the polyimide film market.
Competitive Insight
Some of the major players operating in the global polyimide films market are Kaneka Corporation, Saint-Gobain S.A., E.I. Du Pont De Nemours and Company, Arakawa Chemicals Industries, Ltd., SKCKOLONPI, Inc., Yunda Electronic Materials Co., Ltd., Taimide Tech. Inc., I.S.T. Corporation, FLEXcon Company, Inc., and UBE Industries Ltd.
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Global Automotive Noise, Vibration & Harshness (NVH) Materials Market - Analysis and Forecast (2014 - 2024)
The automotive NVH materials market was valued at $7.7 billion in 2017 and is estimated to reach $12.6 billion by 2024. This market is also expected to observe a CAGR of 7.3% during the forecast period. The increasing market share is attributed to extensive sales of automobiles and increasing demand for lightweight vehicles across the globe. NVH stands for noise, vibration, and harshness and it comprises a complete array of perceptions from hearing to feel. The demand for automotive NVH materials is witnessing rampant growth as it is considered to be the most crucial part of product development.
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Competitive Insight
Some of the major players operating in the global automotive NVH materials market are Exxon Mobil Corporation, Huntsman Corporation, Mitsui Chemicals Inc., Sumitomo Chemical Company Limited, Covestro AG, 3M Company, Lanxess AG, BASF SE, DowDuPont Inc., and Borgers SE & Co. KGaA.
Growth Drivers
The factors that are driving the growth of the global automotive NVH material market include increasing demand for lightweight vehicles and expanding demand for automobiles across the world. Increasing disposable income, evolving lifestyles and rapid urbanization are expanding the demand for noise regulator products in vehicles. It has been observed that people across the globe are more inclined towards eco-friendly, lightweight, and comfortable vehicles. For instance, according to a recent report it has been observed that in 2016 approximately 80 million automobiles were sold across the globe and this number is growing in successive years. Moreover, the swelling production of vehicles is bolstering the market growth for automotive NVH materials globally.
Industry Ecosystem
Globally industry players are leveraging market growth through the adoption of several growth strategies that include joint ventures, acquisitions, and new product development. The key players operating in this market such as Sumitomo Riko Company Limited (Japan) and the Dow Chemical Company (U.S.), have implemented various organic and inorganic expansion plans to accelerate their business growth.
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Global Polymer Concrete Market - Analysis and Forecast (2014 - 2024)
The global polymer concrete market is projected at $2.1 billion in 2017 and is expected to reach $3.4 billion by 2024, at a CAGR of 7.2% during 2018-2024. This market is witnessing significant growth owing to increasing responsiveness concerning the usage of polymers in concrete as it offers multi-tasking and enhanced performance. Extensive spending on maintenance and repair along with rapid growth in infrastructural and developmental actions in growing economies are the major factors driving the growth of the polymer concrete market globally.
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Industry Dynamics
Growth Drivers
The enhanced investment in developmental projects and rapid escalation in repair and maintenance accomplishments in the civil infrastructure segment are further driving the growth of this market. The construction industry performs a significant part in economic development by generating more employment and efficient allocation of funds. Moreover, the increasing government investments across the world in civil infrastructure projects including railways, roads, water reservoirs, airports, buildings, sewer systems, tunnels, bridges, and others are further accentuating the growth of this market.
According to a study, it has been observed that in 2017 in Germany with a cumulative investment amount of $140 billion approximately 180 developmental projects were in a growing phase. Additionally, in India in 2014 the investment of $700 billion was estimated towards urban infrastructure under the “Make in India” initiative. Moreover, these factors are further expected to bolster the growth of the polymer concrete market across the globe.
Competitive Insight
Some of the major players operating in the global polymer concrete market are Fosroc International Ltd., Dudick Inc., Forte Composites Inc., Crown Polymers Corporation ACO Severin Ahlmann GmbH & Co. KG, ErgonArmor, BASF SE, BaseTek, Sauereisen Inc., and Sika AG.
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Global Control Valves Market–Analysis and Forecast (2014–2024)
Control valves play a significant role in increasing the profitability, efficiency, and safety of process industries. The providers of control valves are persistently upgrading and evolving their technology and research and development events in order to meet the ever-changing demands of the manufacturers of several different industries. Moreover, increasing demand for automation and increasing investment avenues among the process industries such as the oil & gas industry along with a huge number of projects for industrial development in several developing economies are the major factors driving the growth of the global control valve market.
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Geographic Overview
Geographically, Asia Pacific has been generating the largest revenue in 2017 and is further projected to generate the largest revenue by 2024 in the global control valve market.
Competitive Insight
Some of the key players in the global control valve market include Burkert Fluid Control System, Curtiss-Wright Corporation, Emerson, Flowserve
Corporation, Crane Co., Alfa Laval, Velan Inc., Samson AG, Pentair PLC., and Kitz Corporation.
Industry Dynamics
Growth Drivers
Growing investments in fluid handling technology in the pharmaceutical and oil & gas industries is expected to drive the growth of global control valve market. It has been observed that the companies operating in the pharmaceutical segment are looking for fluid handling systems that enable them in improving hygiene and speeding up their activities in an efficient manner. Moreover, the oil & gas industry are excessively increasing investment avenues in pipeline installations along with shale gas field in order effectively handle the flow of fluid, thereby contributing towards the growth of the global control valves market at the rapid pace.
With an ever-increasing population, the demand for energy is also being affecting in a positive way and is growing at a substantial proportion. Furthermore, countries in emerging economies such as India and China are rampantly observing demand for power generation which in turn is accelerating the demand for the global control valve market. Moreover, increasing awareness regarding the saving and production of energy along with excessive consumption of energy from middle-class populations in countries such as China, Brazil, India, and Russia are further strengthening the growth of the global control valves market.
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Global Flocculants and Coagulants Market – Analysis and Forecast (2014 – 2024)
The global flocculants and coagulants market was valued at $4.8 billion in 2017. The flocculants and coagulants market is further anticipated to witness a growth of 5.3% during the forecast period in terms of value. The growth of this market is attributed to its extensive utilization of every process of water treatment as it helps in diminishing the operating costs along with eradicating the particulate compositions present in contaminated water. Flocculation and coagulation aim at removing substances from the water with the help of a chemical cleaning action and are generally undertaken at the time of the sedimentation process.
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Industry Dynamics
Growth Drivers
Increasing demand for chemicals in the process of municipal water treatment and stringent regulatory reforms that are on the utilization of water resources and environment for the well-being of public are the major factors driving the growth of global flocculants and coagulants market. The growth of flocculants and coagulants market is highest in Asia-Pacific due to increasing population and increasing rate of industrialization that has enforced the governmental authorities of this region to execute stringent government reforms on the water treatment processes that is further exaggerating the growth of global flocculants and coagulants market.
Industry Ecosystem
Globally industry players of the global flocculants and coagulants market are leveraging market growth through technological advancements, product extensions, and the development of a competitive edge that develops competitive strength among the industry players on factors that includes operational cost, innovation, product quality, and price.
Competitive Insight
Some of the key players in the global flocculants and coagulants market include SNF Floerger, Kemira OYJ, Ecolab Inc., BASF SE, Solenis LLC, Feralco AB, Buckman Laboratories, Inc., Ixom Operations Pty Ltd, Kurita Water Industries Ltd., Suez S.A., Aries Chemical, Inc., and Chemifloc Limited.
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Global High Temperature Elastomers Market – Analysis and Forecast (2014 – 2024)
The global high-temperature elastomers market is expected to generate revenue of USD 16.8 billion by 2024 and is further anticipated to witness a CAGR of 7.2% during the forecast period. Elastomers possess elastic and viscosity properties and are considered to be a bundle of polymers. The high-temperature elastomers that comprise properties such as chemical, corrosion and thermal resistance among others are known as thermosetting elastomers. These thermosetting elastomers are extensively being used in many industries such as electronics, transportation, building & construction, oil & gas, and electrical.
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Geographic Overview
Geographically, Asia Pacific is expected to witness the fastest growth in the global high temperature elastomers market due to rampant economic development and fuelling growth in the construction industry. The high temperature elastomers market in Asia-Pacific is further anticipated to generate the largest revenue of USD 6.6 billion by 2024 owing to a large number of organizations in the automobile domain.
Moreover, increasing investment avenues in technological advancements along with the utilization of these elastomers in oil & gas and other industries in several countries such as Saudi Arabia, Morocco, UAE, and Dubai and in the Middle East and Africa have further bolstered the growth of global high-temperature elastomers market. Additionally, rampant growth of these elastomers in the consumer goods, healthcare, automobile, and manufacturing domain in South American countries are pertaining towards the growth of this market.
Competitive Insight
Some of the major players operating in the global high-temperature elastomers market include KCC Corporation, Dow Corning Corporation, Momentive Performance Materials Inc., Wacker Chemie AG, Solvay S.A., Daikin Industries, Ltd., 3M Company, RTP Company, The Chemours Company, and Shin-Etsu Chemical Co., Ltd.
Industry Dynamics
Growth Drivers
The rapid increase of the automotive industry along with extensive utilization of high temperature elastomers is majorly driving the growth of the global high temperature elastomers market. The automotive industry in developing economies such as Latin America and Asia-Pacific are observing significant growth due to rapid growth in high temperature elastomers market. These elastomers serve various beneficial properties such as flexibility, durability, and resistance to automotive lubricants, and excessive heat.
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Global Automotive Adhesive and Sealants Market – Analysis and Forecast (2014 - 2024)
The global automotive adhesives & sealants market is expected to reach USD 13.6 billion by 2024, owing to increasing concerns about greenhouse gas emissions and fuel consumption that is projected to bolster the demand for adhesive and sealants in passengers as well as commercial vehicles. It is considered that approximately 5% to 8% of the fuel is saved when the weight of the automobile is reduced. Additionally, the decreased weight of the automobile assists in managing the CO2 emission from the vehicles during their complete life span. Moreover, automobile manufacturers are concentrating majorly upon automotive constituents that are developed from thermoplastic elastomers to upgrade automobile performance and manufacture vehicles that are lightweight.
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Industry Dynamics
Growth Drivers
Increasing demand for high application offerings that work effectively in replacing automated fastenings and attaches rubber, plastic, and aluminum products that are gaining traction in the development of new cars, for instance, Mercedes Benz that is rapidly driving the growth of automotive adhesive and sealants market across the globe.
The automotive adhesive and sealants market is observing significant growth, owing to increased regulations for fuel by the government agencies, enhanced emphasis upon the utilization of insubstantial constituents, and increased prominence upon safety norms and regulations. Moreover, contrasting to cast iron and steel constituents, lightweight materials do not have the capability to be bolted or welded to combine them with each other. Additionally, to develop and maintain the reliability of lightweight vehicles, the utilization of adhesive and sealants is rapidly increasing by the automotive manufacturers across the globe thereby bolstering the demand for automotive adhesive & sealant market across the globe.
Geographic Overview
Geographically, Asia Pacific accounted for the largest revenue in the global automotive adhesives & sealants market in 2017 and is further expected to become the largest revenue holder in this market by 2024. The increasing growth of this market is accounted towards extensive manufacturing capacity for passenger vehicles and the LCV segment in this region that is projected to hold approximately 50% of the global manufacturing process. Additionally, accelerating demand for LCV and passenger cars in this region is exaggerating the demand for automotive adhesive and sealants in Asia-Pacific. Increasing disposable income, mounting economy, and improved standards of living of the citizens in countries such as China and India, are the major factors attributed to the increasing growth of the automotive adhesive and sealants market. However, extensive production volume and stringent government regulations in the automotive sector in this region have majorly contributed to the popularity of adhesive and sealants. Moreover, all these factors are strengthening the growth of the automotive adhesive and sealants market in Asia-Pacific.
Competitive Insight
The key companies operating in the global automotive adhesives & sealants market include Henkel AG & Co. KGaA, 3M Company, Dow Chemical Co., Kommerling, PPG Industries, Inc., Permatex, Krayden, Inc., and Sika AG.
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Global Hot Melt Adhesives Market – Analysis and Forecast (2014 – 2024)
Hot melt adhesives are usually in the form of thermoplastic adhesive that is applied with the help of a hot glue gun as a result of which these adhesives are also known as hot glue. There is the presence of a huge array of polymers in this category that comprises both synthetic and natural adhesives. The global hot melt adhesives market was valued at USD 7.9 billion in 2017 and is expected to contribute revenue of USD 11.9 billion by 2024, registering a CAGR of 6.1% during the forecast period (2018 – 2024). The growth of this market is attributed to the increasing capability of consumers in spending power in developing countries along with the increasing expansion of the packaging industry.
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Industry Dynamics
Growth Drivers
Increasing disposable income of the consumers in developing countries such as China, India, and Indonesia is the major factor driving the growth of the global hot melt adhesives market. As a result of the increased spending capability of consumers and demand for various products such as electronics, clothes, and footwear the demand for hot melt adhesives is growing at a rapid pace across the globe. For instance, in electronic offerings, these adhesives are used in joining two substrates.
Moreover, extensive growth of the packaging industry and industrialization are other factors driving the growth of the global hot melt adhesives market. Furthermore, the developing countries in Asia-Pacific are witnessing substantial growth in the hot melt adhesives market owing to the increasing disposable income of the consumers and evolving trends of the consumers. These factors are pertaining to the development of complex, varied, and environment-friendly offerings that are further making these adhesives more accessible and popular among the consumers of this region.
Competitive Insight
Some of the major players operating in the global hot melt adhesives market are Sika AG, Beardow & Adams (Adhesives) Limited., 3M Company, Westlake Chemical Corporation, Bostik Inc., Jowat SE, H.B. Fuller Company, Avery Dennison Corporation, Arkema Group, DowDuPont Inc., and Henkel & Co. KGaA.
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Global Retro-Reflective Materials Market – Analysis and Forecast (2018-2024)
The global retro-reflective materials market was projected to reach USD 14.0 billion by 2024, at a CAGR of 19.0% during the forecast period. The global retro-reflective materials market is projected to witness significant growth in the coming years owing to the stringent government regulations regarding worker and vehicle safety. These materials are used to increase the nighttime conspicuity of traffic signs, high-visibility clothing, and other items. In the light of an approaching vehicle, this makes them safe and effectively visible. Also, they are primarily used as a material to increase the barcode scanning range in a factory setting.
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industry Dynamics
Growth Drivers
Growing demand for these materials to enhance nighttime and low light condition visibility, increasing consumer spending in developing countries, and strict government regulations regarding vehicle safety and worker safety are the major factors driving the retro-reflective materials market growth. These materials are generally used on road signs and also on pavements, where the level of reflectivity must meet established standards. For instance, according to European Union standards, pavement markings should be visible to the average motorists which provides them a minimum of 2.5 seconds of reaction time after dark. Also, the choice of road sign colors is also guided by reflectivity concerns, for example, red and yellow colors are used more frequently, as they attract attention sooner as compared to other hues.
Industry Ecosystem
The retro-reflective materials market is highly fragmented and the dominant players are using different strategies that include expansions, product launches, agreements, joint ventures, mergers and acquisitions, and others to increase their presence in this market.
Geographic Overview
Globally, Asia-Pacific is the largest retro-reflective materials market, owing to the expansion of various industries in the region including construction and infrastructure, automotive and transportation, and others. Due to the rise in construction projects to meet the infrastructure demand of the growing population, the Asia-Pacific region is anticipated to witness the fastest growth in the market.
Competitive Insight
Some of the key players operating in the retro-reflective materials industry are 3M, Avery Dennison Corporation, Changzhou Hua R Sheng Reflective Material Co., Ltd., Coats Group Plc, Dominic Optical Inc., Nippon Carbide Industries Co., Inc., Reflomax, Asian Paints PPG Pvt. Ltd., Paiho Group, Orafol Europe GmbH, JRC Reflex SAS, and Halo Coatings.
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Global Plastic Straps Market – Analysis and Forecast (2018-2024)
The global plastic straps market is projected to reach USD 4.9 billion by 2024, at a CAGR of 19.4 % from 2018 to 2024. The global plastic straps market is anticipated to witness exponential growth in the market during the forecast period, owing to the increasing use of these straps in steel, paper, and other industries. The demands of these straps are increasing due to their properties which include easy handling, high flexibility, lightweight, and others.
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Competitive Insight
Crown Holdings, Messersì Packaging, Teufelberger, Polychem Corporation, Scientex Berhad, Linder Seevetal, Mosca Direct Limited, Dubose Strapping, PAC Strapping Products, and Auto Strap India are some of the major players operating in the plastic straps industry.
Industry Dynamics
Growth Drivers
The major factors that are driving the plastic straps market growth are growing demand in major emerging markets and low-cost alternatives to other materials. Plastic straps are the lightweight and low-cost alternative available in the market as compared to other alternatives including steel straps. Steel straps are relatively expensive, difficult to recycle, and have sharp edges. The most common application of steel straps includes bundles of metal, steel coils, bricks and pavers, baling wire, and others. The market of steel straps has declined in recent years due to various factors including difficulty in recycling, which in turn is fueling the plastic straps market growth.
Industry Ecosystem
The downstream plastic industry (conversion of polymers into plastic articles) is highly fragmented and consists of micro, small, and medium units. The players operating in the market are competing on various parameters such as innovation, performance, delivery speed, quality, reliability, supply chain capacity, and others. Moreover, the players are providing value-added services to their customers and also adapting the changing preference to achieve a competitive edge in the plastic straps market.
Geographic Overview
Globally, the Asia-Pacific plastic straps market is expected to register the highest growth in the market during the forecast period. The growth can mainly be attributed to the positive economic growth due to the increasing purchasing power and increasing disposable income of the Asian countries such as China, India, Japan, and others. Also, expanding industries in the region is also leading to the growth of the plastic straps market.
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Europe Sodium Nitrate Market – Analysis and Forecast (2018-2023)
The European sodium nitrate market is predicted to grow at 3.8% CAGR during the forecast period (2018–2023) to reach USD 49,996.4 thousand by 2023, owing to the increasing use of sodium nitrate in agriculture, chemical, and food & beverage industries. The use of sodium nitrate as a heat storage medium in concentrated solar power plants is also anticipated to increase the demand for the chemical compound in the region.
Sodium and potassium salts of nitrate and nitrite are authorized as food additives in the European Union (EU) countries. They are being utilized in cheese, fish, and meat products to hinder microbial growth. Sodium nitrate utilized in fish and meat products enhances the flavor of products and provides protection against botulism.
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Industry Dynamics
Growth Drivers
The growing demand for fertilizers, low cost of sodium nitrate, and economic growth of certain European countries are the major factor contributing to the growth of the European sodium nitrate market.
In the coming years, more food will be required to feed the growing human population; thus, highlighting the importance of agriculture as it is the only means of mass food production for humans. The world population is calculated to be 7.0 billion as of 2015 and is expected to rise to 8.5 billion by 2030. The land is a limiting factor and the scope for bringing new lands under agriculture is dim, especially in Europe. Rather on the opposite, available land for agriculture is decreasing due to urbanization, soil erosion, and pollution.
Opportunity
The increasing demand for penicillin in European countries acts as an opportunity for the European sodium nitrate market. Sodium nitrate is utilized in penicillin medium preparation along with other salts such as MgSO4, K3PO4, and others. According to the World Health Organization (WHO), many countries such as France and Portugal are facing a shortage of penicillin due to the increasing number of rheumatic heart diseases which develop from a simple untreated throat infection. Thus, an increase in penicillin production is anticipated in the coming years. Thus, the increase in penicillin production assists in sodium nitrate market expansion in Europe.
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