#Asian Oxygen Solvent Market Report
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Asian Oxygenated Solvents Market
The Asian oxygenated solvents market stood at USD 1,057.20 million in 2019, and is likely to be valued at USD 1,552.66 million by 2027, at a CAGR of 5.1% from 2020â2027. Increasing application base for conventional solvents along with growing demand for alcohol solvents is projected to fuel the market growth over the coming years. Moreover, there has been a considerable demand for bio-based solvents in view of various environmental concerns to reduce VOCs. These factors are likely to drive the market for Asia oxygenated solvents over the forecast period.
Oxygenated solvents are organic solvents that contain oxygen molecules. Oxygenated solvents are usually produced by extracting elements from other chemicals in order to attain the desired consistency and balance of components. These solvents are widely used in the manufacture of paints, inks, adhesives, detergents, pharmaceuticals, cosmetics, as well as food products. Alcohol solvents are one of the most widely used group of oxygenated solvents, both for organic as well as inorganic substances.
The report provides detailed market outlook, and forecast the âAsia Oxygenated Solventsâ market based on source, type, application and country.
Read More on Asian Oxygen Market Report at :-
https://quantalignresearch.com/asia-oxygenated-solvents-market-report/
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Industrial Coatings Market Predicted to Witness Sustainable Evolution in Future | Asian Paints PPG Pvt. Limited  (India), Jotun (Norway), Kansai Paint Co., Ltd (Japan), Beckers Group (Germany)
Description :
Global Industrial Coatings Market Research Report: Information By Resin (Acrylic, Polyurethane, Epoxy, Polyester and Fluoropolymers), Technology (Solvent-Based, Water-Based and Powder), End Use (General Industrial, Automotive & Transportation, Marine Protective, Industrial Wood, Packaging) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2027
Keywords :
Industrial Coatings, Industrial Coatings Market, Industrial Coatings Industry, Industrial Coatings Market Size, Industrial Coatings Market Share, Industrial Coatings Market Trends, Industrial Coatings Market Analysis, Industrial Coatings Market Demand, Industrial Coatings Market Uses, Industrial Coatings Market, Global Industrial Coatings, Global Market
 Global Industrial coatings market Analysis
Global Industrial Coatings Market is projected to be valued at over USD 78.2 Billion by the end of 2027 and exhibit a sluggish CAGR of around 3.5% during the forecast period.
The increasing demand for industrial coatings in the end-use industries, including general industries, automotive & transportation, marine, wood finishes, and packaging, is the primary factor that is expected to boost the growth of the global industrial coatings market. The growth of the industrial coatings market is driven by the increasing demand for environment-friendly coatings such as water-borne coatings, powder coatings, and UV cure technology coatings.
This is mainly due to the rising concerns over the depletion of the ozone layer and declining air quality globally. Many global companies such as AkzoNobel N.V, PPG Industries, Ica Group, and Croda International plc have already launched their bio-based coatings products in the global market. Moreover, an increased focus on R&D has been witnessed among the market players to develop bio-based coatings products with innovative plant-based ingredients. Furthermore, many coatings industry suppliers offer raw materials with renewable content to formulators. For instance, Koninklijke DSM N.V., a subsidiary of DSM coating resins, offers its Decovery series of resins that features bio-based contents ranging from 27% to 49%.
Furthermore, the growing adoption of nano-coatings and an increase in mergers and acquisitions by prominent manufacturers by the end users is likely to create growth opportunities for the market players during the forecast period. However, the difficulty in obtaining thin films in powder coating technology is likely to hamper the growth of the global market during the forecast period.
 Top Key Players
MRFR has identified the following companies as the Key Players in the Global Industrial Coatings Market â PPG Industries, Inc (US), Axalta Coating Systems Ltd (US), Nippon Paint Holdings Co., Ltd (Japan), The Sherwin-Williams Company (US), Akzo Nobel N.V. (Netherlands), Asian Paints PPG Pvt. Limited (India), Jotun (Norway), Kansai Paint Co., Ltd (Japan), Beckers Group (Germany), RPM International Inc (US), Hempel A/S (Denmark), KCC CORPORATION (South Korea), NOROO Paint & Coatings Co Ltd (South Korea), Sika AG (Switzerland), and Wacker Chemie AG (Germany).
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 Regional Analysis
 Based on technology, the global industrial coatings market has been segmented into solvent-based, water-based, powder coating, and others. Water-based coatings contain water-soluble resins and use about 80% water and small quantities of other solvents, such as glycol ethers, alcohol, or other oxygen-containing solvents, to disperse the resins. The resins used include polyesters, polyacrylates, alkyds, epoxies, and epoxy esters. Water-based coatings have low toxicity and reduce the concentration of flammable materials in a confined area owing to low VOC levels and HAP emissions. Moreover, favorable government policies and stringent environmental regulations are expected to favor the growth of water-based coatings during the forecast period.
Based on end-use, the Global industrial coatings market is segmented into general industrial, automotive & transportation, industrial woods, marine protective, packaging, and other industries. Among these, the general industrial segment dominated the market with a share of over 35 % and valued at over USD 23 billion in 2019. The general industrial segment includes the application of industrial coatings in chemical, energy & power, textile, equipment manufacturers, and others.
The industrial coatings are used to provide a protective layer and corrosion resistance, mechanical, weathering, and heat and radiation resistance to the metals and the substrate under the coatings. Moreover, industrial coatings contribute to the durability of a product. Industrial coatings are widely used in chemical processing owing to their properties of abrasion, chemical, and heat resistance, along with the addition of protective layers. The growth in the global chemical industry is likely to be a stable revenue source to the global industrial coatings market during the forecast period.
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Curtailed production activities across USA, skyrocketed Ethanol prices in the global market during Q1 2021 | ChemAnalyst
For the Quarter Ending March 2021
North America
In North America, the price of Ethanol surged due to production cuts and high demand from the domestic consumers as well as for exports. Ethanol prices skyrocketed during Q1 2021 as an effect of low feedstock corn availability. Furthermore, winter season disrupted the production activity across the gulf coast that led several production plants to face unplanned shutdowns during January-February. In addition, USA exports skyrocketed due to sudden rise in export demand from China.
Asia
In the Asian markets, overall demand for Ethanol remained firm from the downstream sectors during Q1 2021. In China, demand from the disinfectant sector-maintained stability over the prior quarter. Furthermore, to satisfy this demand, China imported a huge quantity of Ethanol from the US. In addition, feedstock corn prices in China were 35-45% high. Meanwhile, in the Indian market, heavy availability of feedstock sugarcane pushing down the prices of Ethanol for 3 months consecutively, CFR India prices of Ethanol settled down from USD 883.2 per MT (January 2021) to USD 750 per MT (March 2021).
Europe
Limited supply for Ethanol across the region supported its prices during Q1 2021. Though Europe is largely depending upon Ethanol imports from USA, tight supply kept a tab on the product availability. The supply from USA remained low due to low feedstock production and high exports and domestic demand in the country. Meanwhile the demand from disinfectant or sanitizers manufacturers remained stable throughout the quarter.
Market Overview: https://www.chemanalyst.com/Pricing-data/ethanol--13
Ethanol is a flammable and volatile organic chemical compound. It can be produced by a bio route as well as by a petrochemical route. In a petrochemical process, it is produced by hydration of Ethylene while the natural process involves the fermentation of sugar. Although, Ethanol is a major compound found in alcohol beverages but the product in its pure form is highly unfit for human consumption. Owing to its high solubility in water and ideal disinfectant properties, Ethanol can be utilized as a solvent in cleaning products, sanitizers and paints and varnishes. Ethanol is widely demanded in industries as a fuel as it efficiently supplies the required oxygen to fuel along with reducing excess emissions. It also enhances the octane number in fuel resulting in a longer life of engine. Ethanol is also widely utilized as an intoxicating ingredient in alcohol and thus constitutes vivid demand from the alcohol and beverages industry.
Product Specific Details
CAS No.: 64-17-5; HS Code: 22072000; Grades: Pure/absolute, denatured, industrial; Packaging Size: Tanker/Drum; Incoterms: CFR, FOB, Ex-Works, Bulk Contracted, Spot
Countries Covered:
APAC â China, Japan, India, South Korea, Singapore
Europe â Germany, France, Belgium
America â USA, Brazil
MEA â Saudi Arabia, UAE, South Africa
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ChemAnalyst addresses the key problematic areas and risks associated with chemical and petrochemical business globally and enables the decision-maker to make smart choices. It identifies and analyses factors such as geopolitical risks, environmental risks, raw material availability, supply chain functionality, disruption in technology and so on. It targets market volatility and ensures clients navigate through challenges and pitfalls in an efficient and agile manner. Timeliness and accuracy of data has been the core competency of ChemAnalyst, benefitting domestic as well as global industry in tuning in to the real-time data points to execute multi-billion-dollar projects globally.â
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Global Ethanol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030
https://www.chemanalyst.com/industry-report/ethanol-market-594
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ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesnât believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since itâs all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.
ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.
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Growth of Industrial Gases Market during 2021-2027
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global industrial gases market was worth USD 93.1 billion in 2020 and is further projected to reach USD 147.1 billion by 2027, at a CAGR of 6.5% during the forecast period (2021-2027). The market is driven by factors, such as growing applications in the healthcare sector, expanding food & beverages industry, and growing applications in electronics and semiconductors.
The growing application of industrial gases in the healthcare sector is expected to propel the global industrial gases market growth during the forecast period.
Industrial gases are increasingly used in the healthcare sector for various purposes. Oxygen is one of the most widely used industrial gas in the healthcare sector. It provides respiratory assistance in the event of breathing difficulties, and oxygen cylinders are used to aid breathing. Medical air is an ultra-pure, sterile, compressed source of air that is used in respiratory therapy and humidity treatments for extremely sensitive respiratory systems. Amid the ongoing oxygen crisis in India caused by the COVID-19-induced pandemic, IFFCO( Indian farmers fertilizer Cooperative) announced that its Kalol Oxygen plant would produce 33,000 liters of medical-grade oxygen per day.
Carbon dioxide is also used extensively in the medical sector. It is used to diagnose chronic respiratory conditions such as asthma, bronchitis, COPD, and others. It is also used in the treatment of cancer in combination with radiation therapy. Industrial gases are also used in the healthcare sector to provide oxygen and anesthetic mixtures for renal dialysis, chronic respiratory obstruction, and cardio-pulmonary bypass surgery. The growing use of industrial gases in the healthcare sector is expected to propel the global industrial gases market forward during the forecast period.
Increasing application of industrial gases in F&B industry driving market growth
Industrial gases have been an essential component of the food & beverages (F&B) industry for a long time. Nitrogen, carbon dioxide, and oxygen are examples of industrial gases used in the food & beverages industry. Industrial gases are also used as an additive within the food to enhance the taste and texture of the food. It is also to modify the atmosphere to help with food processing or preservation. It may also be used as a non-solvent sterilizing agent or as a propellant to dispense food or beverages from the vessel. In the food and beverage industry, carbon dioxide is the primary additive in carbonated drinks. Liquid nitrogen and carbon dioxide are used to freeze food products. Carbon monoxide is also used to preserve the color of beef, pork, and meat products. In some cases, sulfur dioxide is used as a winemaking preservative. This diverse set of industrial gases applications in the ever-expanding food and beverage industry is expected to fuel the global industrial gases market during the forecast period.
Risks associated with handling industrial gases are stifling market expansion.
Because of the many hazards associated with industrial gases, handling them necessitates extreme caution and precaution. One of the most common hazards associated with industrial gases is their toxicity. Carbon monoxide and sulfur-containing gases are some of the examples of toxic industrial gases. Another significant danger is the flammability of these gases. Industrial gases like hydrogen, acetylene often create an explosive mixture when mixed with air, which can have several implications. Asphyxiation, often known as âthe silent killerâ, is another health hazard related to the handling of industrial gases. Displacement of oxygen by industrial gases like pure nitrogen can cause an industry to collapse instantly due to Asphyxiation. It is possible that an individual will die if they continue to inhale nitrogen. Apart from these hazards, industrial gases are also associated with corrosive risks, material handling risks, and chemical risks, all of which are expected to stymie the global industrial gases market's growth over the forecast period.
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Oxygen accounted for the largest share in the global industrial gases market in 2020
The oxygen segment held the largest market share in the global industrial gases market in 2020. Oxygen is used in various industries for various purposes. Fuel enhancers and the medical sector are the two most important applications of oxygen. In the healthcare industry, medical-grade oxygen is in high demand. Patients with respiratory conditions are treated in hospitals with oxygen cylinders. The need for medical-grade oxygen has recently skyrocketed due to increasing COVID-19 cases. Currently, India faces a severe shortage of medical-grade oxygen as plants are unable to meet the sudden surge in demand. Apart from medical applications, oxygen is used to boost the calorific value of fuel. For example, Oxy-fuel cutting is a process used for cutting metals with a very high melting point. Highly pure oxygen (99.5% purity) is often used with other fuel gases like acetylene or propane in the oxy-fuel cutting process, and it can cut metal up to 250mm thickness. These applications have supported the oxygen segment in gaining a significant market share in the global industrial gases market.
Global Industrial Gases Market: Regional insights
The global industrial gases market is divided into the Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa regions. Asia-Pacific (APAC) dominated the global industrial gases market in 2020 and accounted for the largest market share. The growth of end-user industries in growing economies like India, China, South Korea, and other Asian countries supported the development of the industrial gases market in the Asia-Pacific region. China is the world's largest producer of nitrogen, according to the Food and Agriculture Organization, with 44.97 million tonnes consumed annually. With 16.48 million tonnes of annual consumption, India is in the second position. Nitrogen is widely used as a food preservative and is also used in fertilizer production. . In addition to the aforementioned factors, the growth of the pharmaceuticals and medical sectors in the Asia-Pacific region has led to the region's wide market share in the global industrial gases market.
COVID-19 Impact on Global Industrial Gases Market
COVID-19 has had a negative effect on the vast majority of sectors. While some have started to recover, others are still trying to figure a way out. The demand for food and agriculture products skyrocketed with the initiation of the lockdown. With the second wave of COVID-19 sweeping across countries, the demand for medical-grade oxygen has gone up. The demand for medical-grade oxygen in India has increased eightfold, with current demand exceeding 8,000 metric tonnes per day. COVID-19 has wreaked havoc on supply chains as well, making it difficult to obtain medical-grade oxygen from other nations.
Due to COVID-19, the market for industrial gases used in food and drinks, such as nitrogen and carbon dioxide, has increased in tandem with the demand for oxygen. Other end-use industries, such as metallurgy, explosives, glass, and rubber, were impacted by COVID-19, resulting in lower demand for industrial gases. Since the government of many countries has lifted the lockdown restrictions, companies are now working to reinforce the supply chains. The demand for industrial gases from the medical and healthcare industries is expected to remain strong in the near future, as other industries recover from COVID-19's impact and gradually return to pre-COVID levels.
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Global Industrial Liquid Coatings Market
Global Industrial Liquid Coatings Market was valued US$ 47.70 Bn in 2019 and is estimated to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Industrial Liquid coating also known as wet painting. Due to certain limitation of powder coating, liquid coating has gain market. Liquid coatings offers more shades of colour, thinner coats, easier masking, smoother surface, dries much smoother for a shinier, less textured appearance, noise control, corrosion & chemical resistance, wear resistance & non-stick, abrasion resistance.
Liquid coating includes both solvent based coating and water borne coating. Industrialization, urbanization, expansion of automobile industry and remodeling & expansion in infrastructure sector is driving the Industrial liquid coating market. Government regulation regarding emission of VOCs in solvent based coating restrain the industrial liquid coating market.
Epoxy resin occupied one third market share of the industrial liquid coatings market in 2018. Epoxy resin will continue gaining share owing to properties offered like quick drying, easy application method, protective nature, toughness and other mechanical properties. Polyester based coatings holds second largest market share. Polyester coatings offers superior performance, fast drying, corrosion resistance, cost-effectiveness and other chemical resistance characteristics.
Solvent based coating is dominating the industrial liquid coating market. Solvent-based coatings refers to evaporate via a chemical reaction with oxygen. Solvent based coatings is less susceptible to environmental conditions such as temperature and humidity during the curing process. Humidity can prevent the water in a water-based coating from evaporating, making them impractical in some climates. Environmental concern regarding VOCs emission is about to restrain the solvent based coating market. Water based coating will gain a significant share in the market, due to adoption of eco-friendly coatings.
General industrial segment holds XX % share of market followed by automotive. General industrial segment includes industries such as home appliance manufacturing, food & beverage, textiles, steel, pharmaceutical, containers and packaging, etc. Growing demand for various household application due to rise in disposable income and improved lifestyle will raise the market. Expanding automotive sector is predicted to augment the market growth.
Asia Pacific accounted for the XX % share of the market. Industrialization, urbanization and remodelling of infrastructure led by emerging countries like China & India is driving the market in Asia Pacific region. Europe followed Asia Pacific. North America registers a significant growth.
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Scope of the Global Industrial Liquid Coatings Market Report
Global Industrial Liquid Coatings Market, Size By Resin Type:
⢠Polyester ⢠Epoxy ⢠Polyurethane ⢠Acrylic Global Industrial Liquid Coatings Market, Size By Product Type:
⢠Water Based Coating ⢠Solvent Based Coating Global Industrial Liquid Coatings Market, Size By Application Type:
⢠Agriculture & Heavy Equipment ⢠Oil & Gas Pipelines ⢠Metal Structures ⢠Automotive ⢠General Industry ⢠Others Global Industrial Liquid Coatings Market, Size By Region:
⢠North America ⢠Europe ⢠Asia Pacific ⢠Middle East & Africa ⢠Latin America Key Player Analysed in the Industrial Liquid Coating Market:
⢠Axalta Coatings System ⢠Spencer Coating ⢠ACME Finishing ⢠Jet Finishers, Inc., ⢠STP PerProduct ance Coating LLC. ⢠Alpha Engineered Composites ⢠Cardinal, ⢠Industrialex Manufacturing ⢠AKZO NOBEL ⢠PPG Industries, Inc. ⢠DuPont ⢠Bowers Industrial ⢠DSM ⢠The Valspar Corporation ⢠Specialty Polymer Coatings Inc. ⢠Phygen Coatings, Inc. ⢠Michelman, Inc. ⢠Vitracoat America ⢠Sherwin-Williams ⢠RPM International ⢠Nippon Paint ⢠Sika ⢠Kansai Paint ⢠Jotun ⢠Burke Industrial Coating ⢠Chugoku Marine Paints ⢠Aegis Industries ⢠Diamond Vogel ⢠Asian Paints ⢠Hempel ⢠Brillux ⢠Carpoly Chemical Group ⢠Castagra Resin s ⢠Henkel ⢠Jamestown Coating Technologies ⢠Premium Coatings and Chemicals ⢠KATS Coatings ⢠Masco ⢠Zuelch Industrial Coatings ⢠Weilburger Coatings ⢠Superior Industrial Coating ⢠Tikkurila Oyj ⢠Yip's Chemical Holdings.
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The Asian oxygenated solvents market stood at USD 1,057.20 million in 2019, and is likely to be valued at USD 1,552.66 million by 2027, at a CAGR of 5.1% from 2020â2027. Increasing application base for conventional solvents along with growing demand for alcohol solvents is projected to fuel the market growth over the coming years. Moreover, there has been a considerable demand for bio-based solvents in view of various environmental concerns to reduce VOCs. These factors are likely to drive the market for Asia oxygenated solvents over the forecast period.
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How is Expanding Construction Industry Driving Demand for Epoxy Adhesives?
The construction is witnessing rapid growth since the past few years, which can be attributed to urbanization, growth of the corporate sector, and increasing disposable income of people. As the number of people migrating from rural to urban areas is rising, the demand for proper living facilities is growing as well. Moreover, the living standard of people in developing countries has improved considerably due to strong economic growth, owing to which, they are increasing opting for luxurious items and renovating their houses.
It is because of all these factors that the demand for plastics and composites in the construction industry is rising, which, in turn, is resulting in the increasing demand for epoxy. An organic compound made up of chains of carbon that are linked to elements including nitrogen, oxygen, and hydrogen is referred to as epoxy. The compound is used as an adhesive due to its advantageous properties, including resistance and mechanical properties. In addition to this, epoxy adhesives exhibit increased strength, owing to which they are widely being utilized in a number of industries. The global epoxy adhesives market is expected to advance at a considerable pace in the years to come.
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One component and two component are the two major types of epoxy adhesives, between which, the demand for one component is expected to rise substantially in the years to come. This is due to its superior properties, including solvent-free nature, quick curing time and consumer friendly nature. This being said, the demand for two component epoxy adhesives is expected to remain high from the construction and building industries. The major applications of epoxy adhesives are automotive, electrical & electronics, marine, wind energy, building and construction, and transportation. The demand for these products was the highest for building and construction applications in the past.
This can be ascribed to the rising construction of malls, airports, buildings, and railway stations across the globe. The increasing construction activities in Association of Southeast Asian Nations is also resulting in the growing demand for epoxy adhesives. Geographically, the Asia-Pacific region is expected to emerge as the fastest-growing epoxy adhesives market in the coming years, owing to the rising populations and rising requirement for residential buildings. The demand for epoxy adhesives with enhanced properties, including prolonged heat resistance, electric insulation, and chemical resistance, is high in the region due to the increasing building and construction activities.
In conclusion, the demand for epoxy adhesives is growing due to their superior properties, increasing construction activities, and higher living standard of people across the globe.
#Epoxy Adhesives#Epoxy Adhesives Market#Epoxy Adhesives Market Growth#Epoxy Adhesives Market size#Epoxy Adhesives Market share#Epoxy Adhesives Market demand#Epoxy Adhesives Market trends#Epoxy Adhesives Market scope#Epoxy Adhesives Market future
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Global Industrial Gases Market Gaining Momentum Projected to Reach USD 147.1 Billion by 2027
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global industrial gases market was worth USD 93.1 billion in 2020 and is further projected to reach USD 147.1 billion by 2027, at a CAGR of 6.5% during the forecast period (2021-2027). The market is driven by factors, such as growing applications in the healthcare sector, expanding food & beverages industry, and growing applications in electronics and semiconductors.
The growing application of industrial gases in the healthcare sector is expected to propel the global industrial gases market growth during the forecast period.
Industrial gases are increasingly used in the healthcare sector for various purposes. Oxygen is one of the most widely used industrial gas in the healthcare sector. It provides respiratory assistance in the event of breathing difficulties, and oxygen cylinders are used to aid breathing. Medical air is an ultra-pure, sterile, compressed source of air that is used in respiratory therapy and humidity treatments for extremely sensitive respiratory systems. Amid the ongoing oxygen crisis in India caused by the COVID-19-induced pandemic, IFFCO( Indian farmers fertilizer Cooperative) announced that its Kalol Oxygen plant would produce 33,000 liters of medical-grade oxygen per day.
Carbon dioxide is also used extensively in the medical sector. It is used to diagnose chronic respiratory conditions such as asthma, bronchitis, COPD, and others. It is also used in the treatment of cancer in combination with radiation therapy. Industrial gases are also used in the healthcare sector to provide oxygen and anesthetic mixtures for renal dialysis, chronic respiratory obstruction, and cardio-pulmonary bypass surgery. The growing use of industrial gases in the healthcare sector is expected to propel the global industrial gases market forward during the forecast period.
Increasing application of industrial gases in F&B industry driving market growth
Industrial gases have been an essential component of the food & beverages (F&B) industry for a long time. Nitrogen, carbon dioxide, and oxygen are examples of industrial gases used in the food & beverages industry. Industrial gases are also used as an additive within the food to enhance the taste and texture of the food. It is also to modify the atmosphere to help with food processing or preservation. It may also be used as a non-solvent sterilizing agent or as a propellant to dispense food or beverages from the vessel. In the food and beverage industry, carbon dioxide is the primary additive in carbonated drinks. Liquid nitrogen and carbon dioxide are used to freeze food products. Carbon monoxide is also used to preserve the color of beef, pork, and meat products. In some cases, sulfur dioxide is used as a winemaking preservative. This diverse set of industrial gases applications in the ever-expanding food and beverage industry is expected to fuel the global industrial gases market during the forecast period.
Risks associated with handling industrial gases are stifling market expansion.
Because of the many hazards associated with industrial gases, handling them necessitates extreme caution and precaution. One of the most common hazards associated with industrial gases is their toxicity. Carbon monoxide and sulfur-containing gases are some of the examples of toxic industrial gases. Another significant danger is the flammability of these gases. Industrial gases like hydrogen, acetylene often create an explosive mixture when mixed with air, which can have several implications. Asphyxiation, often known as âthe silent killerâ, is another health hazard related to the handling of industrial gases. Displacement of oxygen by industrial gases like pure nitrogen can cause an industry to collapse instantly due to Asphyxiation. It is possible that an individual will die if they continue to inhale nitrogen. Apart from these hazards, industrial gases are also associated with corrosive risks, material handling risks, and chemical risks, all of which are expected to stymie the global industrial gases market's growth over the forecast period.
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Oxygen accounted for the largest share in the global industrial gases market in 2020
The oxygen segment held the largest market share in the global industrial gases market in 2020. Oxygen is used in various industries for various purposes. Fuel enhancers and the medical sector are the two most important applications of oxygen. In the healthcare industry, medical-grade oxygen is in high demand. Patients with respiratory conditions are treated in hospitals with oxygen cylinders. The need for medical-grade oxygen has recently skyrocketed due to increasing COVID-19 cases. Currently, India faces a severe shortage of medical-grade oxygen as plants are unable to meet the sudden surge in demand. Apart from medical applications, oxygen is used to boost the calorific value of fuel. For example, Oxy-fuel cutting is a process used for cutting metals with a very high melting point. Highly pure oxygen (99.5% purity) is often used with other fuel gases like acetylene or propane in the oxy-fuel cutting process, and it can cut metal up to 250mm thickness. These applications have supported the oxygen segment in gaining a significant market share in the global industrial gases market.
Global Industrial Gases Market: Regional insights
The global industrial gases market is divided into the Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa regions. Asia-Pacific (APAC) dominated the global industrial gases market in 2020 and accounted for the largest market share. The growth of end-user industries in growing economies like India, China, South Korea, and other Asian countries supported the development of the industrial gases market in the Asia-Pacific region. China is the world's largest producer of nitrogen, according to the Food and Agriculture Organization, with 44.97 million tonnes consumed annually. With 16.48 million tonnes of annual consumption, India is in the second position. Nitrogen is widely used as a food preservative and is also used in fertilizer production. . In addition to the aforementioned factors, the growth of the pharmaceuticals and medical sectors in the Asia-Pacific region has led to the region's wide market share in the global industrial gases market.
COVID-19 Impact on Global Industrial Gases Market
COVID-19 has had a negative effect on the vast majority of sectors. While some have started to recover, others are still trying to figure a way out. The demand for food and agriculture products skyrocketed with the initiation of the lockdown. With the second wave of COVID-19 sweeping across countries, the demand for medical-grade oxygen has gone up. The demand for medical-grade oxygen in India has increased eightfold, with current demand exceeding 8,000 metric tonnes per day. COVID-19 has wreaked havoc on supply chains as well, making it difficult to obtain medical-grade oxygen from other nations.
Due to COVID-19, the market for industrial gases used in food and drinks, such as nitrogen and carbon dioxide, has increased in tandem with the demand for oxygen. Other end-use industries, such as metallurgy, explosives, glass, and rubber, were impacted by COVID-19, resulting in lower demand for industrial gases. Since the government of many countries has lifted the lockdown restrictions, companies are now working to reinforce the supply chains. The demand for industrial gases from the medical and healthcare industries is expected to remain strong in the near future, as other industries recover from COVID-19's impact and gradually return to pre-COVID levels.
The Leading Players operating in the Market are The Linde Group, Air Liquide S.A., Praxair Inc., Taiyo Nippon Sanso Corporation, Matheson Tri-Gas Inc., Air Products and Chemicals, Inc., Iwatani Corporation, Messer Group GmbH, Gulf Cryo, Yingde Gas Group Co., Ltd., and others are the key players operating in global industrial gases market.
Key market players are entering into collaborations, partnerships, and engaging in mergers & acquisitions to capture a more significant market share. Furthermore, the market participants are focused on improving their product quality to attain a competitive edge over other players.
In April 2021, Vedanta Industries was given temporary permission by the Tamil Nadu government to reopen its copper plant in Thoothukudi in order to manufacture medical-grade oxygen. Owing to contamination problems at the plant's copper smelter, the plant was shut down. Vedanta has requested that the plant be reopened for the manufacture of medical-grade oxygen. The plant has a manufacturing capacity of 1050 MT medical grade oxygen per day, according to Vedanta, and it can function independently of the copper smelter unit.
In April 2021, French industrial gas giant, Air Liquide S.A., announced that it is sending most of its liquid oxygen output to the healthcare sector and is looking to import supplies from Asia-pacific.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global industrial gases market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Global Industrial Liquid Coatings Market
Global Industrial Liquid Coatings Market was valued US$ 45 Bn in 2017 and is estimated to reach US$ 71 Bn by 2026 at a CAGR of about 6% during a forecast.
Industrial Liquid coating also known as wet painting. Due to certain limitation of powder coating, liquid coating has gain market. Liquid coatings offers more shades of colour, thinner coats, easier masking, smoother surface, dries much smoother for a shinier, less textured appearance, noise control, corrosion & chemical resistance, wear resistance & non-stick, abrasion resistance. Liquid coating enhances material efficiency.
Liquid coating includes both solvent based coating and water borne coating. Industrialization, urbanization, expansion of automobile industry and remodelling & expansion in infrastructure sector is driving the Industrial liquid coating market. Government regulation regarding emission of VOCs in solvent based coating restrain the industrial liquid coating market.
Industrial Liquid Coating Market
Epoxy resin occupied one third share of the industrial liquid coatings market in 2017. Epoxy resin will continue gaining share owing to properties offered like quick drying, easy application method, protective nature, toughness and other mechanical properties. Polyester based coatings holds second largest market share. Polyester coatings offers superior performance, fast drying, corrosion resistance, cost-effectiveness and other chemical resistance characteristics.
Solvent based coating is dominating the industrial liquid coating market. Solvent-based coatings refers to evaporate via a chemical reaction with oxygen. Solvent based coatings is less susceptible to environmental conditions such as temperature and humidity during the curing process. Humidity can prevent the water in a water-based coating from evaporating, making them impractical in some climates. Environmental concern regarding VOCs emission is about to restrain the solvent based coating market. Water based coating will gain a significant share in the market due to adoption of eco-friendly coatings.
General industrial segment holds maximum share of market followed by automotive. General industrial segment includes industries such as home appliance manufacturing, food & beverage, textiles, steel, pharmaceutical, containers and packaging, etc. Growing demand for various household application due to rise in disposable income and improved lifestyle will raise the market. Expanding automotive sector is predicted to augment the market growth.
Asia Pacific accounted for the largest share of the market. Industrialization, urbanization and remodelling of infrastructure led by emerging countries like China & India is driving the market in Asia Pacific region. Europe followed Asia Pacific. North America registers a significant growth.
Key Players Profiled and Analised in the Report
Hempen, Briley, Carpool Chemical Group, Castagra Resin s, Henkel, Jamestown Coating Technologies, Premium Coatings and Chemicals, KATS Coatings, Masco, Zuelch Industrial Coatings, Weilburger Coatings, Superior Industrial Coating, Tikkurila Oyj, and Yipâs Chemical Holdings, Sherwin-Williams, PPG Industries, Axalta Coating Systems, AkzoNobel, and BASF. Additional noticeable companies in the industrial coatings market consist of RPM International, Nippon Paint, Sika, Kansai Paint, and Jotun. Burke Industrial Coatings, Chugoku Marine Paints, Aegis Industries, Diamond Vogel and Asian Paints
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Scope of the Global Industrial Liquid Coatings Market Report
Global Industrial Liquid Coatings Market Size By Resin Type:
⢠Polyester
⢠Epoxy
⢠Polyurethane
⢠Acrylic
Global Industrial Liquid Coatings Market Size By Product Type:
⢠Water Based Coating
⢠Solvent Based Coating
Global Industrial Liquid Coatings Market Size By Application Type:
⢠Agriculture & Heavy Equipment
⢠Oil & Gas Pipelines
⢠Metal Structures
⢠Automotive
⢠General Industry
⢠Others
Global Industrial Liquid Coatings Market Size By Region:
⢠North America
⢠Europe
⢠Asia Pacific
⢠Middle East & Africa
⢠Latin America
Key Player Analysed in the Industrial Liquid Coating Market:
⢠Axalta Coatings System
⢠Spencer Coating
⢠ACME Finishing
⢠Jet Finishers, Inc.,
⢠STP PerProduct ance Coating LLC.
⢠Alpha Engineered Composites
⢠Cardinal,
⢠Industrialex Manufacturing
⢠AKZO NOBEL
⢠PPG Industries, Inc.
⢠DuPont
⢠Bowers Industrial
⢠DSM
⢠The Valspar Corporation
⢠Specialty Polymer Coatings Inc.
⢠Phygen Coatings, Inc.
⢠Michelman, Inc.
⢠Vitracoat America
⢠Sherwin-Williams
⢠RPM International
⢠Nippon Paint
⢠Sika
⢠Kansai Paint
⢠Jotun
⢠Burke Industrial Coating
⢠Chugoku Marine Paints
⢠Aegis Industries
⢠Diamond Vogel
⢠Asian Paints
⢠Hempel
⢠Brillux
⢠Carpoly Chemical Group
⢠Castagra Resin s
⢠Henkel
⢠Jamestown Coating Technologies
⢠Premium Coatings and Chemicals
⢠KATS Coatings
⢠Masco
⢠Zuelch Industrial Coatings
⢠Weilburger Coatings
⢠Superior Industrial Coating
⢠Tikkurila Oyj
⢠Yipâs Chemical Holdings.
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According to study, âChemicals By End Use Global Market Report 2019â the key companies operating in the global chemicals by end use market are LyondellBasell Industries, China Petroleum & Chemical Corporation (Sinopec), Bayer AG, BASF SE, Dow Chemical, Indian Oil Corporation Ltd., Johnson & Johnson Services Inc., INEOS, Kurita Water Industries Ltd, LANXESS, LOreal, Merck KGaA, Lonza, Nipsea Group, Covestro AG, Dainichiseika Color and Chemicals Mfg Co. Ltd, Cytec Solvay Group, DuPont, Dow, DuluxGroup Limited.
The chemical by end use market is a fragment of the chemicals market. Chemicals by end use consist of sales of chemicals via organizations that produce chemicals. A chemical is a substance consisting of matter which includes any solid, liquid or gas. A chemical by end use is classified into different products based on their end use or application such as general chemical product, paints & coatings and soap & cleaning compounds.
Based on type, global chemical by end use market is segmented into general chemical product, toiletries, printing inks, soap & cleaning compounds, paints & coatings, adhesives, fertilizer, pesticide & other agricultural chemicals, plastic material & resins, synthetic rubber & fibers, industrial gas, ethyl alcohol & other basic organic chemical, synthetic dye & pigment, petrochemicals and others. Based on toiletries, market is segmented into lotions (sunscreens), face creams, hair preparations, shaving preparations, perfumes, other cosmetic preparations. Based on printing inks, market is segmented into oil-based printing inks, water-based printing inks and solvent-based printing inks. Based on soap & cleaning compounds, market is segmented into soap & detergent manufacturing, polish and sanitation goods manufacturing and surface active agent manufacturing. Based on paints & coatings, market is segmented into water borne coatings, powder coatings, solvent based coatings and others.
Based on adhesives, market is segmented into water-based, hot-melt-based, solvent-based, reactive and others. Based on fertilizer, market is segmented into nitrogen fertilizer and phosphate fertilizer etc. Based on pesticide & agriculture chemicals, market is segmented into herbicides, fungicides, insecticides and others. Based on plastic material & resins, market is segmented into polypropylene-plastic material & resins, poly-vinyl chloride, high-density polyethylene, polyethylene terephthalate, low-density polyethylene, polyurethane and polystyrene-plastic material & resins. Based on synthetic rubber & fibers, market is segmented into fibers, Polybutadiene (BR), Styrene Butadiene Rubber (SBR), Ethylene Propylene (EPDM) and others (IIR, TPR, CR, ABS, etc.). Based on industrial gas, market is segmented into hydrogen, carbon dioxide, helium, industrial nitrogen gas, acetylene, oxygen, argon and others. Based on ethyl alcohol & other basic organic chemical, market is segmented into synthetic sweeteners, ethyl alcohol manufacturing, plasticizers manufacturing, silicone manufacturing, gum & wood chemicals manufacturing and fatty acids manufacturing. In addition, based on petrochemical, market is segmented into ethylene-petrochemicals, benzene-petrochemicals, propylene-petrochemicals, xylene, toluene, styrene-petrochemicals and cumene.
The chemicals by end use market is driven by rise in demand of chemicals for industrial fabrics, followed by growth in the apparel market in developing economies, growth in conformity with latest manufacturing standards and increase in demand from flavors & fragrances industry. However, rise in popularity of bio-based alternatives, stringent environmental regulations and increase in the availability of cheaper substitutes may impact the market.
Based on geography, Asian-Pacific region holds major share, followed by North-American region in chemicals by end-use market owing to low oil prices in the region. It is estimated that the future of the market will be bright due to emergence of multinational chemicals companies over the forecast period.
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Asia Oxygenated Solvents Market
The Asian oxygenated solvents market stood at USD 1,057.20 million in 2019, and is likely to be valued at USD 1,552.66 million by 2027, at a CAGR of 5.1% from 2020â2027. Increasing application base for conventional solvents along with growing demand for alcohol solvents is projected to fuel the market growth over the coming years. Moreover, there has been a considerable demand for bio-based solvents in view of various environmental concerns to reduce VOCs. These factors are likely to drive the market for Asia oxygenated solvents over the forecast period.
Oxygenated solvents are organic solvents that contain oxygen molecules. Oxygenated solvents are usually produced by extracting elements from other chemicals in order to attain the desired consistency and balance of components. These solvents are widely used in the manufacture of paints, inks, adhesives, detergents, pharmaceuticals, cosmetics, as well as food products. Alcohol solvents are one of the most widely used group of oxygenated solvents, both for organic as well as inorganic substances.
The report provides detailed market outlook, and forecast the âAsia Oxygenated Solventsâ market based on source, type, application and country.
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Global Industrial coatings market Business Opportunities, Current Trends, Market Challenges & Global Industry Analysis by 2027
Description :
Global Industrial Coatings Market Research Report: Information By Resin (Acrylic, Polyurethane, Epoxy, Polyester and Fluoropolymers), Technology (Solvent-Based, Water-Based and Powder), End Use (General Industrial, Automotive & Transportation, Marine Protective, Industrial Wood, Packaging) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2027
Keywords :
Industrial Coatings, Industrial Coatings Market, Industrial Coatings Industry, Industrial Coatings Market Size, Industrial Coatings Market Share, Industrial Coatings Market Trends, Industrial Coatings Market Analysis, Industrial Coatings Market Demand, Industrial Coatings Market Uses, Industrial Coatings Market, Global Industrial Coatings, Global Market
 Global Industrial coatings market Analysis
Global Industrial Coatings Market is projected to be valued at over USD 78.2 Billion by the end of 2027 and exhibit a sluggish CAGR of around 3.5% during the forecast period.
The increasing demand for industrial coatings in the end-use industries, including general industries, automotive & transportation, marine, wood finishes, and packaging, is the primary factor that is expected to boost the growth of the global industrial coatings market. The growth of the industrial coatings market is driven by the increasing demand for environment-friendly coatings such as water-borne coatings, powder coatings, and UV cure technology coatings.
This is mainly due to the rising concerns over the depletion of the ozone layer and declining air quality globally. Many global companies such as AkzoNobel N.V, PPG Industries, Ica Group, and Croda International plc have already launched their bio-based coatings products in the global market. Moreover, an increased focus on R&D has been witnessed among the market players to develop bio-based coatings products with innovative plant-based ingredients. Furthermore, many coatings industry suppliers offer raw materials with renewable content to formulators. For instance, Koninklijke DSM N.V., a subsidiary of DSM coating resins, offers its Decovery series of resins that features bio-based contents ranging from 27% to 49%.
Furthermore, the growing adoption of nano-coatings and an increase in mergers and acquisitions by prominent manufacturers by the end users is likely to create growth opportunities for the market players during the forecast period. However, the difficulty in obtaining thin films in powder coating technology is likely to hamper the growth of the global market during the forecast period.
 Top Key Players
MRFR has identified the following companies as the Key Players in the Global Industrial Coatings Market â PPG Industries, Inc (US), Axalta Coating Systems Ltd (US), Nippon Paint Holdings Co., Ltd (Japan), The Sherwin-Williams Company (US), Akzo Nobel N.V. (Netherlands), Asian Paints PPG Pvt. Limited (India), Jotun (Norway), Kansai Paint Co., Ltd (Japan), Beckers Group (Germany), RPM International Inc (US), Hempel A/S (Denmark), KCC CORPORATION (South Korea), NOROO Paint & Coatings Co Ltd (South Korea), Sika AG (Switzerland), and Wacker Chemie AG (Germany).
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 Regional Analysis
 Based on technology, the global industrial coatings market has been segmented into solvent-based, water-based, powder coating, and others. Water-based coatings contain water-soluble resins and use about 80% water and small quantities of other solvents, such as glycol ethers, alcohol, or other oxygen-containing solvents, to disperse the resins. The resins used include polyesters, polyacrylates, alkyds, epoxies, and epoxy esters. Water-based coatings have low toxicity and reduce the concentration of flammable materials in a confined area owing to low VOC levels and HAP emissions. Moreover, favorable government policies and stringent environmental regulations are expected to favor the growth of water-based coatings during the forecast period.
Based on end-use, the Global industrial coatings market is segmented into general industrial, automotive & transportation, industrial woods, marine protective, packaging, and other industries. Among these, the general industrial segment dominated the market with a share of over 35 % and valued at over USD 23 billion in 2019. The general industrial segment includes the application of industrial coatings in chemical, energy & power, textile, equipment manufacturers, and others.
The industrial coatings are used to provide a protective layer and corrosion resistance, mechanical, weathering, and heat and radiation resistance to the metals and the substrate under the coatings. Moreover, industrial coatings contribute to the durability of a product. Industrial coatings are widely used in chemical processing owing to their properties of abrasion, chemical, and heat resistance, along with the addition of protective layers. The growth in the global chemical industry is likely to be a stable revenue source to the global industrial coatings market during the forecast period.
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#Industrial Coatings Market Uses Industrial Coatings Market Global Industrial Coatings Global Market
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Architectural Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2027
Market Overview:
Architectural Coatings are used to coat and paint the houses and buildings. The main functions of these coatings are adhesion, wettability, corrosion resistance and weather shield. The architectural and construction industry have been specifying and utilizing protective coatings for decades. These coatings work to prevent deterioration caused by impact and environmental factors to maintain durability and aesthetics while greatly reducing maintenance costs and increasing the life of the finish.
A portion of the noticeable elements that emphatically impact the development of Architectural Coatings Market are quick industrialization, expanding lodging for the extending masses, and consistent development of construction industry. Fast urbanization combined with expanding per capita discretionary cash flow in rising economies are anticipated to drive the development of the market amid the evaluation forecast period. Additionally, rising interest for inside decorative coatings and expanding interest in construction activities is further estimated to fuel the market development over the figure time frame.
 Regional Analysis:
In Asia Pacific, nations are encountering rising wages, enhancing ways of life and expanding residential establishment, while work and creation costs remain moderately low. North America is relied upon to enroll a better than expected development in the Architectural Coating Market because of the developing ecological concerns and mindfulness with respect to the unsafe parts of solvent based coatings. A combination of higher pricing of raw materials and competitive coatings market outside EU has a huge impact on Europe coatings market. It is anticipated that there will be a decline in the growth of Architectural Coatings Market in EU. Paints and Coatings Industry in Latin America is experiencing a decline in the demand due to the instability in the regional economy.
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 Competitive Players:
The key players in the Global Architectural Coating Market are BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), The Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan) and Asian Paints Ltd (India) among others.
 Market Segmentation:
On the basis of type, the market is segmented into acrylic, epoxy, polyurethane, polyester and others. Acrylic coating has major end uses in the building and construction, aerospace, industrial, automotive, marine and others. The properties such as adhesion to non-porous surfaces, good storage and durability, and improved solubility which ensures ease in application. It is anticipated that there will be a significant increase in the growth of Acrylic Market ever since the industrial sector is burgeoning and there is a need to safeguard industrial machinery and equipment. Epoxy Coating generally consists of two parts which are mixed with epoxy resin and it cross linked with coreactant or hardener. This process is called as curing in which the liquid epoxy coating is converted into hard and durable epoxy coating after application to a substrate. These coatings are famous for quick drying, tough and protective coating. Their low volatility is an advantage for using them in industrial applications and also reduces the flammability issues with solvent borne coatings. Epoxy coatings are resistant to UV, heat and temperature changes and it can be anticipated that as the U.S. E.P.A laid regulations on manufacturing coatings in order to control the air pollution, there will be a significant growth in the usage of epoxy based coatings to reduce air pollution causing agents as they possess low VOCâs and low volatility. As the world is shifting towards environmental friendly compounds due to the pressure by global warming and regulations laid by the government agencies it can be anticipated that there will be as significant increase in the usage of epoxy resin coating in this forecast. Polyurethane is a polymer which is joined by urethane units. It is a thermal setting polymer and it is not impulsive in nature on application of heat or any other temperature changes. Polyurethane foam obtained as spray which has outstanding insulating qualities. From maintaining optimum temperature, to lowering noise levels. Rigid polyurethane is commonly used in the roof and wall insulation. This advantage has specific use in the developed countries and it can be anticipated to see a growth in the usage of polyurethane as insulating coating in the developed countries. Polyester coating market is anticipated to increase dramatically in the forecast period. Global Architectural Coatings Market is segmented based on technology as water borne and solvent borne technology. Solvent borne coatings are made up of liquefying agents and these agents can be evaporated upon exposure to atmospheric oxygen via chemical reaction. Although, they are less vulnerable to humidity temperature changes. Moreover this technology is getting replaced by water-borne technology due to the emission of VOCâs into the air causing air pollution by means of evaporation. Solvent based coatings has no resistance for the oxidation by atmospheric oxygen and solar radiation.
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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Global Triethylene Glycol (TEG) Market 2019 Outlook, Manufacturers, Opportunities & Forecast to 2025
The global TEG market size is projected to reach a valuation of USD 870.6 million by 2025, owing to its excellent hygroscopic properties which have aggravated the demand of triethylene glycol in a wide number of applications. The increasing need for plasticizers in end-use industries is another factor contributing towards the growth of the global triethylene glycol market.
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The global triethylene glycol market report includes an evaluation of prevailing trends including drivers, restraints and lucrative opportunities. Additional tools such as Porterâs Five Forces analysis, and value chain analysis are included to give a holistic global TEG market view. Moreover, the report includes TEG market size pertaining to different regions. The global triethylene glycol (TEG) market share has been evaluated for different applications.
TEG is used by the oil & gas industry to "dehydrate" natural gas. Triethylene glycols, which have a high boiling point and water affinity, are used as a liquid desiccant for natural gas dehydration. Dehydration is the removal of water vapor from the refinery tower so that dry hydrocarbon gasses can leave the tower's top. It can also be used to dehydrate other gasses, including CO2, H2S and other gases oxygenated. Natural gas dehydration is projected to be the fastest growing application holding a valuation of approximately USD 526.1 million by 2025.
Growth in natural gas production on account of increasing industrialization and power demand in emerging Asian countries as well as in Africa have boosted the demand for natural gas dehydration. A higher degree of purity, lower vapor losses, and operating costs are the advantages offered by TEG which have driven the global triethylene glycol market. In addition, improving gas import, transport and utility infrastructure in countries such as China, India, and Brazil is likely to fuel the global triethylene glycol market growth over the predicted period. Favorable government policies backing the use of natural gas as a cleaner fuel is anticipated to assist the global triethylene glycol (TEG) market share over the forecast period.
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Middle East & Africa are projected to witness a demand volume exceeding 70 kilo tons by 2025, growing in tandem with the global growth during the forecast period. Natural gas, being one of the cleanest burning fossil fuels, is in high demand as governments are finding cost-effective ways to reduce their dependence on coal and oil burning power plants. As a result of this increasing global demand, governments and industries throughout the Middle East are now expanding infrastructure for the production of natural gas to extract and monetize the region's large supply.
Alongside Russia and Iran, Qatar has the world's third largest proven natural gas reserve. The World Energy Outlook also predicted that by 2020, the Middle East will become the second largest gas consumer. The biggest consumption increase comes from the electricity sector. In Saudi Arabia, the growing demand for electricity is mainly as a result of population growth and the ongoing drive to meet its current supply gap. Bharat Petroleum forecasts that by 2040, the Middle East, which represents the largest natural gas reserves, in particular offshore Iran and Qatar, will see an expansion in the production of natural gas by 60%, thus leading to the need for dehydration. Growth in the capacity additions is likely to have a positive impact on the growth of the global TEG market size over the forecast years.
The nature of the global triethylene glycol market is fragmented with the presence of a large number of established players. The primary participants include Dow Chemical Company, Huntsman Corporation, BASF AG, Royal Dutch Shell, Eastman Chemical Company, Exxon Mobil Corporation, Saudi Basic Industries Corporation, INEOS, LyondellBasell Industries Holdings B.V., and LOTTE Chemical Corporation among others.
Key segments of the Global Triethylene Glycol (TEG) market
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Humectants
Natural Gas Dehydration
Plasticizers
Polyester Resins
Polyurethanes
Solvents
Others
Regional Over view, 2015-2025 (Kilo Tons) (USD Million)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Rest of Europe
Asia Pacific
India
Japan
China
Rest of APAC
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
Gulf Council Cooperation (GCC) Countries
Key Players analysed in the report include
The Dow Chemical Company
Huntsman Corporation
BASF AG
Royal Dutch Shell
Eastman Chemical Company
Others
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Industrial Gases Market Size, Trends, Report 2021-2027
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global industrial gases market was worth USD 93.1 billion in 2020 and is further projected to reach USD 147.1 billion by 2027, at a CAGR of 6.5% during the forecast period (2021-2027). The market is driven by factors, such as growing applications in the healthcare sector, expanding food & beverages industry, and growing applications in electronics and semiconductors.
The growing application of industrial gases in the healthcare sector is expected to propel the global industrial gases market growth during the forecast period.
Industrial gases are increasingly used in the healthcare sector for various purposes. Oxygen is one of the most widely used industrial gas in the healthcare sector. It provides respiratory assistance in the event of breathing difficulties, and oxygen cylinders are used to aid breathing. Medical air is an ultra-pure, sterile, compressed source of air that is used in respiratory therapy and humidity treatments for extremely sensitive respiratory systems. Amid the ongoing oxygen crisis in India caused by the COVID-19-induced pandemic, IFFCO( Indian farmers fertilizer Cooperative) announced that its Kalol Oxygen plant would produce 33,000 liters of medical-grade oxygen per day.
Carbon dioxide is also used extensively in the medical sector. It is used to diagnose chronic respiratory conditions such as asthma, bronchitis, COPD, and others. It is also used in the treatment of cancer in combination with radiation therapy. Industrial gases are also used in the healthcare sector to provide oxygen and anesthetic mixtures for renal dialysis, chronic respiratory obstruction, and cardio-pulmonary bypass surgery. The growing use of industrial gases in the healthcare sector is expected to propel the global industrial gases market forward during the forecast period.
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Increasing application of industrial gases in F&B industry driving market growth
Industrial gases have been an essential component of the food & beverages (F&B) industry for a long time. Nitrogen, carbon dioxide, and oxygen are examples of industrial gases used in the food & beverages industry. Industrial gases are also used as an additive within the food to enhance the taste and texture of the food. It is also to modify the atmosphere to help with food processing or preservation. It may also be used as a non-solvent sterilizing agent or as a propellant to dispense food or beverages from the vessel. In the food and beverage industry, carbon dioxide is the primary additive in carbonated drinks. Liquid nitrogen and carbon dioxide are used to freeze food products. Carbon monoxide is also used to preserve the color of beef, pork, and meat products. In some cases, sulfur dioxide is used as a winemaking preservative. This diverse set of industrial gases applications in the ever-expanding food and beverage industry is expected to fuel the global industrial gases market during the forecast period.
Risks associated with handling industrial gases are stifling market expansion.
Because of the many hazards associated with industrial gases, handling them necessitates extreme caution and precaution. One of the most common hazards associated with industrial gases is their toxicity. Carbon monoxide and sulfur-containing gases are some of the examples of toxic industrial gases. Another significant danger is the flammability of these gases. Industrial gases like hydrogen, acetylene often create an explosive mixture when mixed with air, which can have several implications. Asphyxiation, often known as âthe silent killerâ, is another health hazard related to the handling of industrial gases. Displacement of oxygen by industrial gases like pure nitrogen can cause an industry to collapse instantly due to Asphyxiation. It is possible that an individual will die if they continue to inhale nitrogen. Apart from these hazards, industrial gases are also associated with corrosive risks, material handling risks, and chemical risks, all of which are expected to stymie the global industrial gases market's growth over the forecast period.
Oxygen accounted for the largest share in the global industrial gases market in 2020
The oxygen segment held the largest market share in the global industrial gases market in 2020. Oxygen is used in various industries for various purposes. Fuel enhancers and the medical sector are the two most important applications of oxygen. In the healthcare industry, medical-grade oxygen is in high demand. Patients with respiratory conditions are treated in hospitals with oxygen cylinders. The need for medical-grade oxygen has recently skyrocketed due to increasing COVID-19 cases. Currently, India faces a severe shortage of medical-grade oxygen as plants are unable to meet the sudden surge in demand. Apart from medical applications, oxygen is used to boost the calorific value of fuel. For example, Oxy-fuel cutting is a process used for cutting metals with a very high melting point. Highly pure oxygen (99.5% purity) is often used with other fuel gases like acetylene or propane in the oxy-fuel cutting process, and it can cut metal up to 250mm thickness. These applications have supported the oxygen segment in gaining a significant market share in the global industrial gases market.
Global Industrial Gases Market: Regional insights
The global industrial gases market is divided into the Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa regions. Asia-Pacific (APAC) dominated the global industrial gases market in 2020 and accounted for the largest market share. The growth of end-user industries in growing economies like India, China, South Korea, and other Asian countries supported the development of the industrial gases market in the Asia-Pacific region. China is the world's largest producer of nitrogen, according to the Food and Agriculture Organization, with 44.97 million tonnes consumed annually. With 16.48 million tonnes of annual consumption, India is in the second position. Nitrogen is widely used as a food preservative and is also used in fertilizer production. . In addition to the aforementioned factors, the growth of the pharmaceuticals and medical sectors in the Asia-Pacific region has led to the region's wide market share in the global industrial gases market.
COVID-19 Impact on Global Industrial Gases Market
COVID-19 has had a negative effect on the vast majority of sectors. While some have started to recover, others are still trying to figure a way out. The demand for food and agriculture products skyrocketed with the initiation of the lockdown. With the second wave of COVID-19 sweeping across countries, the demand for medical-grade oxygen has gone up. The demand for medical-grade oxygen in India has increased eightfold, with current demand exceeding 8,000 metric tonnes per day. COVID-19 has wreaked havoc on supply chains as well, making it difficult to obtain medical-grade oxygen from other nations.
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Architectural Coatings Market with Geographic Segmentation, Statistical Forecast and Competitive Analysis Report to 2023
Market Overview:
Architectural Coatings are used to coat and paint the houses and buildings. The main functions of these coatings are adhesion, wettability, corrosion resistance and weather shield. The architectural and construction industry have been specifying and utilizing protective coatings for decades. These coatings work to prevent deterioration caused by impact and environmental factors to maintain durability and aesthetics while greatly reducing maintenance costs and increasing the life of the finish.
A portion of the noticeable elements that emphatically impact the development of Architectural Coatings Market are quick industrialization, expanding lodging for the extending masses, and consistent development of construction industry. Fast urbanization combined with expanding per capita discretionary cash flow in rising economies are anticipated to drive the development of the market amid the evaluation forecast period. Additionally, rising interest for inside decorative coatings and expanding interest in construction activities is further estimated to fuel the market development over the figure time frame.
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Competitive Players:
The key players in the Global Architectural Coating Market are BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), The Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan) and Asian Paints Ltd (India) among others.
Market Segmentation:
On the basis of Type, the market is segmented into acrylic, epoxy, polyurethane, polyester and others. Acrylic coating has major end uses in the building and construction, aerospace, industrial, automotive, marine and others. The properties such as adhesion to non-porous surfaces, good storage and durability, and improved solubility which ensures ease in application. It is anticipated that there will be a significant increase in the growth of Acrylic Market ever since the industrial sector is burgeoning and there is a need to safeguard industrial machinery and equipment. Epoxy Coating generally consists of two parts which are mixed with epoxy resin and it cross linked with coreactant or hardener. This process is called as curing in which the liquid epoxy coating is converted into hard and durable epoxy coating after application to a substrate. These coatings are famous for quick drying, tough and protective coating. Their low volatility is an advantage for using them in industrial applications and also reduces the flammability issues with solvent borne coatings. Epoxy coatings are resistant to UV, heat and temperature changes and it can be anticipated that as the U.S. E.P.A laid regulations on manufacturing coatings in order to control the air pollution, there will be a significant growth in the usage of epoxy based coatings to reduce air pollution causing agents as they possess low VOCâs and low volatility. As the world is shifting towards environmental friendly compounds due to the pressure by global warming and regulations laid by the government agencies it can be anticipated that there will be as significant increase in the usage of epoxy resin coating in this forecast. Polyurethane is a polymer which is joined by urethane units. It is a thermal setting polymer and it is not impulsive in nature on application of heat or any other temperature changes. Polyurethane foam obtained as spray which has outstanding insulating qualities. From maintaining optimum temperature, to lowering noise levels. Rigid polyurethane is commonly used in the roof and wall insulation. This advantage has specific use in the developed countries and it can be anticipated to see a growth in the usage of polyurethane as insulating coating in the developed countries. Polyester coating market is anticipated to increase dramatically in the forecast period. Global Architectural Coatings Market is segmented based on technology as water borne and solvent borne technology. Solvent borne coatings are made up of liquefying agents and these agents can be evaporated upon exposure to atmospheric oxygen via chemical reaction. Although, they are less vulnerable to humidity temperature changes. Moreover this technology is getting replaced by water-borne technology due to the emission of VOCâs into the air causing air pollution by means of evaporation. Solvent based coatings has no resistance for the oxidation by atmospheric oxygen and solar radiation.
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Regional Analysis:
In Asia Pacific, nations are encountering rising wages, enhancing ways of life and expanding residential establishment, while work and creation costs remain moderately low. North America is relied upon to enroll a better than expected development in the Architectural Coating Market because of the developing ecological concerns and mindfulness with respect to the unsafe parts of solvent based coatings. A combination of higher pricing of raw materials and competitive coatings market outside EU has a huge impact on Europe coatings market. It is anticipated that there will be a decline in the growth of Architectural Coatings Market in EU. Paints and Coatings Industry in Latin America is experiencing a decline in the demand due to the instability in the regional economy. Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
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