#Marine Coatings Market Growth

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Marine Coatings Market Analysis: Global Overview

Antifouling Coatings One of the most important coatings used in marine applications is antifouling coatings. These coatings are applied to the hulls of ships and boats to prevent biofouling, which is the unwanted accumulation of microorganisms, algae, plants, and animals on wet surfaces. Biofouling can have significant detrimental effects if left untreated as it increases drag, decreases fuel efficiency, and affects maneuverability. Traditional antifouling coatings contained biocides like tributyltin (TBT) which leached from the coating into the surrounding seawater to deter biological growth. While very effective, these TBT-based antifoulings posed environmental and health risks. As a result, the International Maritime Organization banned the use of TBT-based antifoulings worldwide in 2008. Modern antifouling coatings now rely on alternative biocides or biocide-free mechanisms to prevent slime and organism accumulation. Copper-based antifoulings are now one of the most common alternatives as copper is a naturally occurring element that marine life encounters. The copper leaches slowly from the coating and acts as a biocide at low concentrations safely. Other non-biocide mechanisms involve foul-release and fouling-release coatings, which create very slick surfaces that marine organisms struggle to adhere to. The coating periodically "sloughs off" any organisms that start to attach. Overall, the goal of modern antifouling coatings is to provide effective hull protection while minimizing environmental impact. Anticorrosion Coatings In addition to preventing biofouling, marine coatings play a critical role in protecting a ship's steel hull and other metal components from corrosion due to seawater exposure. Left uncoated, steel readily corrodes when submerged in seawater which contains dissolved oxygen, carbon dioxide, and chloride salts. The main types of marine anticorrosion coatings are anticorrosive primers and topcoats. Epoxy and polyurethane coatings are commonly used anticorrosive primers that form a protective barrier on the metal surface, disrupting the corrosion process. Topcoats are then applied over primers to provide additional physical, mechanical, and aesthetic protection. Popular topcoats include further epoxy coats, chlorinated rubber, and acrylic coatings. Specialized Coatings Beyond generic hull and anticorrosion coatings, specialized marine coatings serve various other functions. Tank coatings applied to cargo oil tanks, ballast tanks, and fuel tanks assist in corrosion protection and help prevent contamination. Due to cargo compatibility concerns, different tank coating chemistries may be selected depending on the types of fluids being stored or transported. Additionally, many vessels require scrubber coatings. These physically robust coatings line exhaust gas desulfurization (EGD or "scrubber") systems that remove sulfur oxides from engine exhaust to comply with emissions regulations. Scrubber coatings must withstand the corrosiveness of seawater and chemical cleaning agents used in the scrubbing process. Epoxy and silicon-based coatings tend to work well in these highly demanding environments. Successful coatings receive certification from classification societies like Lloyd's Register verifying they meet procurement specifications. Examples are Lloyd's Register Certificates for fitness of antifouling coatings or NORSOK M-501 for offshore structures. With thorough R&D testing and certifications, marine coatings manufacturers can provide assurance their products will maintain maximum performance and lifetime when used for their intended purpose.

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Marine Coatings Market Growth Drivers: Demand and Market Expansion

Marine Coatings Market: Protecting Ships from Corrosion in Harsh Marine Environments Introduction to Marine Coatings Marine coatings, also known as marine paints, are specialized paints and coatings used for surfaces submerged in sea water or exposed to marine environments. They protect the hulls and other exterior parts of ships, offshore oil rigs, yachts and other marine vessels from corrosion caused by salt water, abrasion from ocean waves and biological fouling from aquatic organisms. Different types of marine coatings are used depending on the specific application and environmental conditions. In this article we’ll explore the marine coatings market outlook. Epoxy Coatings for Anti-Corrosion Protection Epoxy coatings are some of the most popular and widely used marine coatings today due to their excellent barrier protection against corrosion. They form a tough, chemical-resistant film once cured that strongly adheres to metal surfaces and acts as an effective barrier to moisture and oxygen permeation. This prevents corrosion even under prolonged immersion in seawater. Fouling Release Coatings to Reduce Drag Fouling release coatings are specifically designed to prevent calcareous marine organisms like barnacles and tube worms from attaching to ship hulls. By reducing drag-inducing biofouling buildup, these coatings can significantly reduce fuel costs and emissions for shipping and cruise companies. They work by creating very slippery surfaces that prevent initial attachment of fouling organisms yet facilitate easy release of any organisms that do manage to attach. Anti-Corrosive Paints for Decks and Superstructures Specialized anti-corrosive paints are needed to protect the exterior metal surfaces above waterline like ship decks and superstructures. These are subjected to weathering from sun, rain, thermal changes and occasional water splashes. Offshore oil rig structural steel also require similar protection in harsh conditions like sea spray and weather exposure. Anodes for Cathodic Protection on Ship Hulls Galvanic or sacrificial anodes are another important part of marine anti-corrosion systems. They work by cathodic protection where the anode metal corrodes preferentially instead of the ship's hull. Common anode metals used include aluminum, zinc and magnesium. These are fastened to the ship's hull and act as a galvanic cell to divert corrosion from the steel onto themselves through an electrochemical reaction. New Biocidal Coatings to Prevent Marine Fouling Environmentally-compliant self-polishing copolymer (SPC) antifouling coatings were introduced in 2008 to replace tributyltin-based paints banned for releasing toxic organotins into the marine environment. SPCs are swellable pigment-filled paints that employ controlled release of biocides like copper and zinc to prevent fouling settlement without polluting surrounding waters. Application and Maintenance of Marine Coatings Special surface preparation involving grit blasting or power tool cleaning is needed for marine coatings to strongly bind to substrates. Primers are often applied as an undercoat before topcoats. Proper application requires observing conditions such as temperature, humidity, wet film thickness. Multiple coats may be needed with intermediate drying for some coatings. In summary, marine coatings protect ships and other maritime vessels from corrosion through barrier protection and sacrificial reactions, these features will provide positive impact to the growth of the marine coatings market. Choosing the right coating type according to application environment and conditions ensures durability and cost savings in the long run. Ongoing research also aims to develop more eco-friendly and foul-release based coating technologies for the shipping and offshore industries.

[chemicalresearchupdates]

Advancements in Nanotechnology: Transforming the Marine Coatings Market

Marine coatings, also known as naval coatings, are protective paints or coatings applied to ships and boats to protect hulls and components from seawater corrosion damage and fouling by marine organisms such as barnacles, molluscs, and algae. Marine coatings provide a protective barrier between the sea and vessel hull and components, thereby preventing corrosion, improving fuel efficiency and prolonging the life of vessels.

The global marine coatings market is estimated to be valued at US$ 7.1 billion in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity:

Preventing corrosion is one of the major opportunities in the marine coatings market. Corrosion leads to loss of integrity of vessel hulls and increases maintenance cost of marine vessels. About 40% of total maintenance budget of commercial ships is spent on corrosion prevention and repair activities. It is estimated that corrosion costs the global marine industry around US$ 30-50 billion annually. Application of effective marine coatings is a highly cost-effective method of preventing corrosion damage to hulls of all types of vessels including commercial ships, oil & gas rigs, yachts, and naval ships. This has significantly boosted demand for high-performance marine coatings and is expected to continue driving the market growth over the forecast period. Porter's Analysis Threat of new entrants: The marine coatings market requires large capital investments and established supply chains, distribution channels and brand reputation, creating barriers for new entrants. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute products and the differentiated needs of end-use industries. Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of raw material alternatives and the competitive nature of the market. Threat of new substitutes: New substitute materials such as hybrid coatings pose a moderate threat as they provide improved properties. Competitive rivalry: The market is highly competitive due to the presence of numerous global and regional players. SWOT Analysis Strengths: Demand from shipbuilding and maintenance activities. Wide range of product offerings to suit diverse end-use requirements. Weaknesses: Volatility in raw material prices impacts costs. Stringent environmental regulations increase compliance costs. Opportunities: Growth of the offshore oil & gas industry in Asia Pacific and Middle East & Africa. Development of bio-based and environment-friendly coating solutions. Threats: Shift towards use of substitutes due to environmental concerns. Economic slowdowns hindering infrastructure and new vessel construction. Key Takeaways The global marine coatings market is expected to witness high growth over the forecast period supported by increasing maritime trade and a recovery in shipbuilding activities. The The global marine coatings market is estimated to be valued at US$ 7.1 billion in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period of 2023-2030.

Regional analysis - The Asia Pacific region accounts for the largest share of the global marine coatings market led by strong growth in China, South Korea and Japan. These countries are major shipbuilding hubs as well as have large shipping fleets. Government initiatives to promote maritime trade and infrastructure development of ports and harbors will continue driving demand. Key players - Key players operating in the marine coatings market are AkzoNobel, PPG Industries, Jotun, Chugoku Marine Paints Ltd., Hempel A/S, BASF SE. AkzoNobel and PPG Industries dominate the market and continue investments in new product development and capacity expansions across regions. Strategic partnerships with shipbuilders and regional coating manufacturers are pursued for market penetration.

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Marine Coatings Market Future: Technological Advancements and Investments

Marine coatings are primarily used to protect marine vessels and offshore rigs & platforms from extreme weather conditions, corrosion, fouling, and other mechanical damages. The main products in this market include anti-corrosive, anti-fouling, and others. The demand for marine coatings is majorly driven by commercial vessels, cargo ships, tankers, cruise liners, and other sea-faring vessels. The marine coatings market is estimated to be valued at US$ 12,662.7 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights Market Dynamics: The global marine coatings market is expected to witness significant growth over the forecast period, owing to growing maritime trade and increasing marine vessel construction activities across the globe. According to the United Nations Conference on Trade and Development (UNCTAD), seaborne trade volumes reached around 11 billion tons in 2020 and is projected to further rise going forward. Furthermore, countries such as China, South Korea, and Germany are actively investing and building new commercial vessels to expand their shipping capacities. For instance, China aims to build over 100 new commercial vessels by 2023. This rising marine vessel construction is anticipated to propel the demand for high-performance marine coatings during the forecast period. Additionally, stringent regulations regarding the use of toxic anti-fouling coatings is increasing the adoption of advanced eco-friendly marine coatings. SWOT Analysis Strength: Marine coatings provide protection to ships from corrosion, fiber and algae. They extend the lifespan of ships and reduce maintenance costs. Marine coatings has wide product portfolio including antifouling, anticorrosion and bulkhead coatings. Weakness: Stringent environmental regulations related to marine coatings raw materials increase compliance costs. Volatility in raw material prices such as resins affects the overall costs. Opportunity: Growth in seaborne trade and shipbuilding activities in Asia Pacific drives the demand for new ships and maintenance activities. Development of bio-based and environment-friendly marine coatings presents new revenue opportunities. Threats: Slowdown in global trade due to economic uncertainties poses challenges. Substitution threat from alternatives coatings such as underwater cable and pipeline coatings.

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Global Marine Coatings Market Is Estimated To Witness High Growth Owing To Increasing Shipbuilding and Maintenance Activities

The global Marine Coatings Market is estimated to be valued at USD 12,662.7 Mn in 2021 and is expected to exhibit a CAGR of 6.5% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights. A) Market Overview: Marine coatings refer to protective coatings applied to surfaces of ships and other marine vessels to protect them from corrosion, fouling, and wear and tear caused by water, UV radiation, and harsh marine environments. These coatings offer durability, weather resistance, enhanced aesthetics, and improved performance, thereby increasing the lifespan of ships and reducing maintenance costs. Marine coatings find extensive applications in shipbuilding, offshore structures, cargo containers, and pleasure boats. B) Market Dynamics: 1) Driver 1: Increasing Shipbuilding Activities The growing global trade and increasing demand for goods and commodities have led to a surge in shipbuilding activities. According to the International Chamber of Shipping, approximately 90% of global trade is carried by the shipping industry. This has resulted in the construction of new ships and vessels, driving the demand for marine coatings. Additionally, the development of newer and more advanced coatings with improved anti-corrosion and anti-fouling properties is further propelling market growth. 2) Driver 2: Rising Maintenance and Repair Activities Regular maintenance and repair of marine vessels are essential to ensure their optimal performance and safety. Marine coatings play a crucial role in protecting the vessels from corrosion, fouling, and abrasion, thereby reducing maintenance costs and downtime. The increasing focus on vessel maintenance, particularly in the oil and gas and offshore industries, is driving the demand for marine coatings. C) SWOT Analysis: Strength: 1) Improved Durability: Marine coatings offer excellent protection against corrosion, UV radiation, and harsh marine environments, increasing the durability of ships and vessels. 2) Enhanced Performance: These coatings improve vessel performance, fuel efficiency, and reduce energy consumption. Weakness: 1) High Cost: Marine coatings can be expensive, which may deter cost-sensitive shipbuilders and operators. 2) Environmental Concerns: Some marine coatings contain toxic substances, raising environmental concerns and regulatory scrutiny. Opportunity: 1) Technological Advancements: The development of environmentally-friendly and anti-fouling coatings presents immense growth opportunities. 2) Emerging Markets: The rapidly growing shipbuilding and offshore industries in emerging economies offer untapped market potential. Threats: 1) Stringent Environmental Regulations: Increasing regulatory restrictions on toxic coatings may pose challenges to market growth. 2) Economic Downturn: A slowdown in the global economy can impact the shipbuilding and maintenance activities, affecting the demand for marine coatings. D) Key Takeaways: The global Marine Coatings Market Growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing shipbuilding and maintenance activities. The growing global trade and the need for vessel maintenance to ensure optimal performance are driving the demand for marine coatings. In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the marine coatings market. The region has a robust shipbuilding industry, with countries like China, South Korea, and Japan leading the market. The increasing demand for marine transportation and offshore activities in the region is fueling the growth of the market. Key players operating in the global Marine Coatings Market include AkzoNobel N.V., Chugoku Marine Paints Ltd., Hempel A/S, Jotun A/S, Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint, PPG Industries Inc, RPM International Inc., and The Sherwin-Williams Company. These companies focus on research and development activities to develop innovative and eco-friendly coatings to gain a competitive edge in the market.

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Microencapsulation Market Opportunities, Size and Forecast to 2030

The Microencapsulation Market Trend was USD 11.9 billion in 2022 and is expected to Reach USD 25.88 billion by 2030 and grow at a CAGR of 10.2 % over the forecast period of 2023-2030. 

The Microencapsulation growth is estimated to be majorly driven by growing economies of Asia Pacific region. The growing demand of Microencapsulation from the wind energy, marine, and packaging end-use industries in China, India, Japan, and Australia is driving the growth of Microencapsulation in Asia Pacific region

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Microencapsulation Market Witnesses Growth with Expanding Applications in Food, Pharmaceuticals, and Cosmetics

The global Microencapsulation Market is experiencing significant growth, driven by its increasing adoption across diverse industries such as food and beverage, pharmaceuticals, cosmetics, and agriculture. Microencapsulation, a process of enclosing active ingredients within a protective coating, is widely used to enhance product stability, control release, and mask unpleasant tastes or odors. In the food sector, it is used to preserve flavors, vitamins, and probiotics, ensuring extended shelf life and improved product performance. Similarly, in pharmaceuticals, microencapsulation enables targeted drug delivery, improving therapeutic efficacy and patient compliance. The growing consumer preference for functional foods and personalized medicine is further driving market expansion.

Regionally, North America and Europe dominate the market, supported by advanced R&D infrastructure and the strong presence of key players in the pharmaceutical and food sectors. The Asia-Pacific region, however, is emerging as a lucrative market due to rapid industrialization, increasing health awareness, and growing demand for fortified and functional products. Technological advancements, such as the development of biodegradable and sustainable encapsulation materials, are opening new avenues for innovation and application. With its ability to add value and functionality to products, the microencapsulation market is poised for continued growth, catering to evolving consumer and industry demands globally.

Market Overview

By Technology

Emulsion

Spray

Dripping

By Coating Material

Carbohydrates

By Application

Household

Agrochemical

Pharmaceutical

Healthcare products

The major factors driving the growth of the studied are growing demand of lightweight material from automotive industry and increasing construction activities in Asia-Pacific.

Availability of substitutes for Microencapsulation are likely to hinder the s growth.

Potential growth in wind energy is likely to create opportunities for the in the coming years.

Asia-Pacific region is expected to dominate the and is also likely to witness highest CAGR during the forecast period.

The key players covered in this report:

Capsulae

Reed Pacific Pty Ltd

3M

BASF SE

AVEKA Group

Microtek Laboratories Inc

GAT Microencapsulation GmbH

Evonik Industries AG

Inno Bio Limited

Ronald T. Dodge Co.

Bayer AG

Dow

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Asia-Pacific Region to Dominate the

Asia-Pacific region is expected to dominate the industry. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.

China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).

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Industrial Coatings Market: Company Outlook and Industry Analysis (2024-2031) | Akzo Nobel N.V., BASF SE, PPG Industries

Industrial Coatings is set to experience notable growth over the forecast period from 2024 to 2031. According to the latest market analysis by Kings Research, the market was valued at USD 88.34 billion in 2023 and is projected to reach USD 106.42 billion by 2031, reflecting a compound annual growth rate (CAGR) of 2.49%.

Eco-Friendly Coatings: There is a significant shift towards environmentally friendly coatings driven by stringent environmental regulations and increasing consumer awareness about sustainability. This trend is leading to higher adoption of water-borne and powder-based coatings, which are less harmful to the environment compared to traditional solvent-borne coatings.

Corrosion Protection: Industrial coatings play a crucial role in protecting structures and machinery from corrosion, which is particularly important in sectors like marine, oil and gas, and infrastructure. Enhanced protection against harsh environmental conditions is a key selling point for these coatings, driving their demand in these industries.

Automotive Industry Expansion: The automotive industry is a major end-user of industrial coatings. With the ongoing growth in automotive production and the increasing need for protective and aesthetic coatings, the market is witnessing significant growth opportunities. The adoption of advanced coatings that enhance vehicle durability and appearance is a significant factor contributing to market growth.

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Market Dynamics and Drivers

The industrial coatings market is driven by several key factors, including the rising demand for eco-friendly coatings, the growing emphasis on corrosion protection, and the expanding automotive industry. These factors are fostering a steady increase in market demand and are expected to continue propelling the market forward over the next several years.

Key Market Players:

PPG Industries, Inc.

Akzo Nobel N.V.

The Sherwin-Williams Company

Axalta Coating Systems, LLC

BASF SE

KANSAI PAINT CO., LTD.

Jotun

Nippon Paint Holdings Co., Ltd.

Hempel A/S

KCC Corporation

Market Segmentation

The industrial coatings market is segmented based on product type, technology, and end-use industry.

By Product Type:

Acrylic

Alkyd

Polyurethane

Epoxy

Polyester

Others

Among these, the acrylic segment is expected to hold the largest market share by 2031, with a projected revenue of USD 36.17 billion. Acrylic coatings are favored for their excellent durability, resistance to weathering, and versatility in various applications.

By Technology:

Solvent-borne

Water-borne

Powder-based

Others

Water-borne coatings are anticipated to see substantial growth due to their lower environmental impact and compliance with VOC regulations. Powder-based coatings are also gaining traction for their efficiency and minimal waste generation.

By End-Use Industry:

General Industrial

Automotive & Transportation

Marine Protective

Industrial Wood

Packaging

The automotive and transportation segment is a major contributor to the market, driven by the increasing production of vehicles and the need for advanced coatings that offer superior protection and aesthetic appeal.

Regional Insights

The Asia-Pacific region is both the largest and the fastest-growing market for industrial coatings. With a CAGR of 3.37% from 2024 to 2031, the region is expected to reach a market value of USD 51.21 billion by 2031. This growth is attributed to rapid industrialization, increasing construction activities, and the expanding automotive sector in countries like China and India.

North America and Europe also represent significant markets for industrial coatings, driven by technological advancements and a strong focus on sustainable products. The adoption of high-performance coatings in various industries is further bolstering market growth in these regions.

These companies are focusing on research and development to introduce new, environmentally friendly products and to expand their product portfolios to meet the evolving needs of various industries.

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[knowaboutcalciumsalts]

Competitive Advantages of Aragonite Substances

Aragonite, a crystalline form of calcium carbonate (CaCO₃), is a naturally occurring mineral that offers a wide range of benefits across various industries, from environmental applications to agriculture and even industrial manufacturing. As businesses and industries continue to seek sustainable, cost-effective, and high-performance materials, aragonite substances are gaining increasing attention for their unique properties. Here are some key competitive advantages of aragonite:

1. Sustainable and Environmentally Friendly

Aragonite is a naturally abundant mineral, often found in marine environments, including coral reefs and seashells. Because it is a naturally occurring substance, it has a low environmental impact compared to synthetic alternatives. Many companies are increasingly prioritizing sustainability in their operations, and using aragonite aligns well with environmental goals. Aragonite can also be recycled and reused, contributing to a circular economy and reducing reliance on non-renewable resources.

2. Superior Performance in Agriculture

Aragonite is a valuable substance in the agricultural sector, especially as a soil amendment and natural fertilizer. Its unique crystalline structure allows it to be absorbed more efficiently by plants than other forms of calcium carbonate. Aragonite helps improve soil structure, enhance nutrient absorption, and increase plant growth, making it a highly effective solution for improving crop yields. Its ability to neutralize acidic soils also supports long-term soil health and sustainability in farming practices.

3. Enhanced Industrial Applications

Aragonite has unique physical properties, such as its high density and hardness, which make it an ideal component for various industrial applications. In the construction and manufacturing industries, aragonite is used as a high-performance filler in products like paints, coatings, adhesives, and plastics. Its fine particle size and consistency contribute to the strength and durability of the finished products, while also providing superior opacity and whiteness.

4. Health and Wellness Benefits

Aragonite is increasingly being used in the health and wellness industry, particularly in the form of supplements. Calcium carbonate in the aragonite form is more bioavailable than its counterpart, calcite, meaning it is absorbed by the body more easily. This makes aragonite a preferred source for calcium supplements, supporting bone health, dental care, and overall mineral balance. Aragonite’s natural origin and high bioavailability give it a competitive edge in the growing market for natural and effective health supplements.

5. Water Filtration and Purification

Aragonite’s ability to filter and purify water is one of its standout properties. It acts as a natural water purifier, removing impurities such as heavy metals and excess minerals from water sources. In aquatic and marine applications, aragonite helps regulate water chemistry, making it a key material for maintaining healthy aquariums, coral reefs, and other aquatic environments. It is also increasingly used in municipal water filtration systems to improve water quality and remove contaminants, providing a cost-effective and eco-friendly alternative to synthetic filtration methods.

6. Corrosion Resistance and Durability

Due to its stable chemical composition, aragonite exhibits impressive corrosion resistance, making it an excellent material for various industrial applications. In marine environments, aragonite helps protect structures from the damaging effects of corrosion caused by saltwater exposure. In addition to its natural corrosion-resistant properties, aragonite’s durability under extreme conditions gives it a competitive advantage in applications that require long-lasting, high-performance materials.

7. Supports Marine Ecosystems

In addition to its practical uses in industry and agriculture, aragonite plays a vital role in maintaining healthy marine ecosystems. It is a key component in the shells of marine organisms like mollusks and corals, contributing to the structure and health of marine life. Aragonite-based substrates are often used in aquaculture, coral restoration projects, and marine biology research, helping support sustainable practices and the preservation of marine biodiversity.

Conclusion Aragonite substances offer numerous competitive advantages across a variety of industries. From its sustainable and eco-friendly properties to its superior performance in agriculture, industry, and health, aragonite is emerging as a key material for businesses seeking innovation, sustainability, and cost-effectiveness. As industries continue to embrace green technologies and high-performance materials, aragonite’s diverse applications and unique properties make it a valuable resource for driving competitive advantages in today’s market. Whether in agriculture, manufacturing, or environmental sustainability, aragonite is a substance with significant potential to shape the future of multiple sectors.

[atomicladycupcake]

Isophthalic Acid Market is Booming Worldwide by Future Innovations & Trends

The isophthalic acid (IPA) market has been growing significantly, driven by increased demand across various industries, particularly in coatings, plastics, and composites. Isophthalic acid, a type of aromatic dicarboxylic acid, is widely used in manufacturing unsaturated polyester resins (UPRs), high-performance coatings, and other products that require enhanced durability and thermal resistance. Known for its exceptional chemical properties, IPA serves as an important intermediate in creating materials that demand stability and strength, such as PET bottles, marine coatings, and automotive parts.

Market Overview

The Global Isophthalic Acid Market is projected to reach approximately USD 5.0 Billion by 2033, rising from USD 3.0 Billion in 2023, with an expected CAGR of 5.3% throughout the 2023-2033 forecast period. Growth is fueled by the rising demand in industries like construction, automotive, and packaging, where materials with enhanced durability and corrosion resistance are crucial. Additionally, the ongoing push towards lightweight materials in automotive manufacturing to improve fuel efficiency is likely to boost the demand for isophthalic acid in coming years.

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Key Market Drivers

Growing Demand for Unsaturated Polyester Resins (UPRs): One of the primary applications of isophthalic acid is in the production of UPRs, which are widely used in various industries due to their durability and resistance to corrosion. UPRs made with isophthalic acid are preferred in marine environments, automotive parts, and construction materials where they provide structural strength and resistance to harsh conditions.

Increasing Use in PET Production: Isophthalic acid is also used as a co-monomer in the production of polyethylene terephthalate (PET), a highly versatile polymer used extensively in packaging, especially for beverages and food containers. The increasing demand for packaged goods globally has led to a higher consumption of PET, thereby driving the demand for isophthalic acid. The material’s chemical stability and clarity make it ideal for products that need long shelf lives and resistance to spoilage.

Growth in Coatings and Paints Industry: The coatings industry is another significant consumer of isophthalic acid. The demand for durable, weather-resistant, and corrosion-resistant coatings in industries such as automotive, construction, and marine has bolstered the need for IPA. With an increase in infrastructure projects and industrial expansion, the need for high-performance coatings that can withstand extreme environments is rising, pushing demand for isophthalic acid-based products.

Sustainability and Lightweighting Trends: The automotive industry’s shift toward lightweight materials to improve fuel efficiency has led to a rise in the use of isophthalic acid in various applications. IPA-based resins are durable, lightweight, and provide high chemical resistance, making them suitable for lightweight composites used in vehicle parts. As environmental regulations tighten around fuel efficiency and emissions, the demand for lightweight materials like those produced with isophthalic acid is expected to grow.

Regional Insights

Asia-Pacific: The Asia-Pacific region, led by countries like China, Japan, and India, dominates the global isophthalic acid market. Rapid industrialization, infrastructure development, and the booming automotive and packaging sectors are major growth drivers in this region. China is one of the largest consumers of IPA, particularly for UPR production and PET manufacturing, driven by its significant share in global manufacturing and packaging industries.

North America: In North America, the demand for isophthalic acid is also strong, with high consumption in the construction, automotive, and marine industries. The presence of established players in these industries and the increasing focus on durable and sustainable materials contribute to the steady growth of IPA in the region.

Europe: Europe’s demand for isophthalic acid is supported by its developed automotive and coatings industries. Additionally, the region’s strict environmental regulations are pushing industries toward high-performance and durable materials, including IPA-based resins and coatings. Germany, the UK, and France are some of the key consumers within the region.

Challenges in the Market

Volatility in Raw Material Prices: The price of isophthalic acid is closely tied to the cost of its primary raw materials, such as xylene. Fluctuations in crude oil prices can affect the supply chain, impacting the pricing and profitability of IPA. The reliance on petrochemical feedstocks exposes the market to price volatility, which can disrupt production and pricing stability.

Environmental and Regulatory Constraints: With a growing emphasis on reducing environmental impact, many governments are imposing stringent regulations on petrochemical-based industries. This is pushing manufacturers to explore more eco-friendly and sustainable alternatives, which could pose a challenge for traditional IPA-based products in the long term.

Substitute Materials: The rise of alternative materials like bio-based plastics and other sustainable resins is gradually shifting some demand away from petrochemical derivatives like isophthalic acid. Though alternatives are still in developmental stages, increasing investment in research and development of sustainable materials could impact the long-term growth of the IPA market.

Key Players:

o   LOTTE Chemical CORPORATION

o   The Chemical Company

o   Merck KGaA

o   Eastman Chemical Company

o   International Chemical Co. (ICC)

o   Thermo Fisher Scientific Inc.

o   Mitsubishi Gas Chemical Company Inc.

o   Formosa Chemicals & Fibre Corp.

o   Beijing Yanshan Petrochemical Company Ltd.

o   Hefei TNJ Chemical Industry Co. Ltd

o   Other Key Players

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Future Prospects and Opportunities

Innovation in Sustainable Production: As environmental concerns continue to grow, there is a rising interest in developing sustainable and bio-based alternatives for traditional petrochemical processes. Companies investing in green chemistry solutions and bio-based isophthalic acid production processes may benefit from this trend, as industries seek to reduce their carbon footprint.

Emerging Markets in Latin America and Africa: With increasing infrastructure projects and industrialization, emerging economies in Latin America and Africa represent potential growth areas for the isophthalic acid market. Expanding automotive and construction sectors in these regions could create new demand for isophthalic acid in coming years.

Growth in 3D Printing and Composite Materials: Isophthalic acid has potential applications in the 3D printing industry, which is rapidly growing and adopting new materials for creating durable, customized products. The market for composite materials, often used in aerospace and high-performance automotive applications, also presents growth opportunities for isophthalic acid, given its desirable properties in resin production.

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Bamboos Market Size, Share and Analysis | Report 2033: https://infinitymarketresearch.com/bamboos-market/1145

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Self-Healing Coatings Market Analysis, Key Players, Share Dynamic Demand and Consumption by 2024 to 2034

Self-Healing Coatings Market Introduction:

The Self-Healing Coatings market is predicted to develop at a compound annual growth rate (CAGR) of 34.3% from 2024 to 2034, when it is projected to reach USD 16,586.69 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 2,783.74 Million in 2024.

Self-healing coatings are innovative materials designed to autonomously repair minor damages, such as scratches and cracks. These coatings incorporate microcapsules or other smart materials that release healing agents when the surface is compromised, initiating a repair process. This technology extends product lifespan, reduces maintenance costs, and enhances durability. The market for self-healing coatings is rapidly expanding due to increasing demand across industries like automotive, aerospace, construction, and electronics.

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Self-Healing Coatings Market Drivers

Several factors are driving the growth of the self-healing coatings market:

Increased Demand for Durability and Longevity: Industries are constantly seeking ways to enhance the durability and lifespan of their products. Self-healing coatings offer a solution by extending the service life of materials, reducing maintenance costs, and improving reliability.

Advancements in Materials Science: Ongoing research and development in materials science have led to more effective and affordable self-healing technologies. This has made it possible to integrate these coatings into a broader range of applications.

Environmental Concerns: As industries strive for more sustainable practices, self-healing coatings offer an eco-friendly solution by reducing the need for frequent replacements and repairs, which in turn lowers waste and resource consumption.

Automotive and Aerospace Industries: These sectors are major adopters of self-healing coatings due to their high performance and safety requirements. Self-healing coatings can significantly enhance the durability of parts exposed to harsh conditions.

Applications and Benefits

The potential applications of self-healing coatings are extensive:

Automotive Industry: Self-healing coatings can be applied to car exteriors to repair minor scratches and maintain a pristine appearance. This reduces the need for costly repainting and repairs.

Aerospace Sector: In aerospace, self-healing coatings can protect aircraft components from damage caused by environmental factors and operational stresses, enhancing safety and reducing maintenance costs.

Electronics: Self-healing coatings can be used to protect sensitive electronic components from damage and wear, thereby extending the life of electronic devices.

Infrastructure: Buildings and bridges coated with self-healing materials can experience fewer issues related to wear and tear, leading to reduced maintenance costs and longer lifespans.

Companies Covered:

Akzo Nobel N.V.

BASF SE

Dow Chemical Company

PPG Industries

3M Company

Sherwin-Williams Company

Axalta Coating Systems

Nippon Paint Holdings Co., Ltd.

Jotun Group

Hempel A/S

Advanced Polymer Coatings

Nissan Chemical Industries, Ltd.

Cortec Corporation

Autonomic Materials, Inc.

Sika AG

Market Segments

By Material Type

Polymers

Ceramics

Metal

Others

By Formulation Type

Intrinsic Self-Healing

Extrinsic Self-Healing

By End-use

Automotive

Construction

Aerospace

Electronics

Marine

Others

Growth Factors Driving the Self-Healing Coatings Market

The self-healing coatings market is experiencing robust growth, propelled by several key factors. Understanding these growth drivers provides valuable insight into why this technology is becoming increasingly prominent across various industries. Here’s an in-depth look at the primary factors contributing to the expansion of the self-healing coatings market:

Increasing Demand for Durability and Longevity

In an era where the durability of products is highly valued, self-healing coatings offer a compelling solution. These coatings can significantly enhance the lifespan of materials by repairing minor damages autonomously, which reduces the frequency of repairs and replacements. Industries ranging from automotive and aerospace to construction are seeking ways to extend the service life of their components, driving demand for self-healing technologies.

Technological Advancements in Materials Science

The self-healing coatings market is benefiting from ongoing advancements in materials science. Innovations such as the development of more effective microcapsules, advanced vascular systems, and reversible chemical mechanisms have improved the efficiency and applicability of self-healing coatings. Research and development efforts continue to refine these technologies, making them more versatile and cost-effective.

Future Prospects

The future of the self-healing coatings market looks promising. Ongoing advancements in nanotechnology, biomimetic design, and material science are expected to lead to even more innovative and effective self-healing solutions. Additionally, as industries continue to focus on sustainability and efficiency, the demand for self-healing coatings is likely to grow.

Key objectives of this research are:

To explore Global Market size by respective indicators.

To scrutinize the sum and estimation of the Global Self-Healing Coatings Market Market, Based on key aspects.

To offer an account of the competitive landscape and investigate their development plans.

To examine the Global Market for growth possibilities, and strategic growth.

To review the Global Market size (volume and worth) from the organization, key market regions, items and applications, and statistical data.

To generate competitive learnings and factors analysis, SWOT examination, and business improvement plans for the future.

To scrutinize the range of available and novel organic business growth strategies.

Conclusion

Self-healing coatings represent a groundbreaking advancement in material science, offering the promise of enhanced durability, reduced maintenance, and improved sustainability. As the technology continues to evolve, we can expect to see a broader adoption of these coatings across various sectors, ultimately leading to more resilient and long-lasting products. Whether in the automotive, aerospace, electronics, or infrastructure industries, the self-healing coatings market is set to make a significant impact in the years to come.

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Mr. Robbin Joseph

Corporate Sales, USA

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[chemicalresearchupdates]

Examining the Impact of Environmental Regulations on the Marine Coatings Market

The Marine Coatings Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Marine coatings are protective paint coatings applied to vessels and offshore structures engaged in shipping and maritime trade activities to prevent corrosion and fouling. These coatings extend the lifespan of vessels and offshore structures by providing a barrier between the substrate material and sea water.

Market Dynamics:

The marine coatings market is expected to witness significant growth over the forecast period owing to two key drivers. Firstly, the rise in global shipping and maritime trade activities has increased demand for new vessels and maintenance of existing fleet. Global maritime trade volumes have doubled in the last decade and are expected to further rise strongly by 2030. Secondly, strict environmental regulations regarding the use of antifouling coatings containing biocides have led to innovation in non-toxic and environmentally compliant coating technologies. Major coating manufacturers are investing in R&D to develop novel coating materials that meet regulatory standards while providing equal or better performance than conventional coatings.

Increasing Need for Corrosion Protection is a Major Driver for Marine Coatings Market

Corrosion is one of the major concerns in marine industry as it can severely impact vessel performance and structural integrity if not properly protected. Marine coatings plays a critical role in providing robust barrier against corrosion caused due to harsh marine environment consisting of seawater, humidity, UV radiation and other pollutants. The growing maritime trade activities worldwide has significantly increased vessel traffic which is constantly exposed to these corrosive conditions. In order to ensure long term protection and extend working life of marine vessels and offshore assets, regular application of high-performance marine coatings has become imperative. This growing emphasis on corrosion control through effective coating solutions is a major factor augmenting the demand for marine coatings globally.

Stringent Environmental Regulations Restraining Use of Hazardous Coating Materials

Growing environmental concerns regarding emission of toxic fumes from coating materials used in shipbuilding and maintenance works is a key factor inhibiting the marine coatings market growth. Regulatory bodies across regions have formulated stringent standards pertaining to VOC content and usage of hazardous substances in marine coatings. For instance, directives from IMO and EPA have imposed restrictions on APV, heavy metals and other toxic compounds in marine coatings. This is necessitating coating manufacturers to develop innovative, eco-friendly solutions compliant with international quality and environmental norms. However, transition to green materials requires substantial reformulations and investments which adds to production costs. Higher priced compliant coatings can affect the demand to some extent until the quality and benefits are clearly established to customers.

Adoption of Advanced Coatings for New Vessel Designs Presents Lucrative Opportunity

Evolution in ship design and construction applications demands advanced coating systems to protect complex structures and meet customized functional requirements. Growing construction of specialized vessels such as LNG carriers, drilling rigs, fishing trawlers and navy corvettes employing novel technologies provides significant opportunity for marine coatings producers. These newbuild programs require customized high-performance coatings offering improved thermal resistance, self-cleaning properties, anticorrosive protection beneath wet insulation as well as capabilities against hydrostatic pressure and mechanical impact. Additionally, demand is witnessing for intelligent coatings integrated with smart sensors for real-time monitoring of vessel structural health. Leading manufacturers are investing in R&D to develop futuristic, adaptive coating solutions catering to the emerging design and operational needs of specialized marine industry.

Increasing Use of Eco-friendly Waterborne Coatings Expected to Reshape Future Market Trends

Amid growing environmental regulations worldwide, waterborne coating technology presents major revolution in marine coatings sector as it provides an effective, sustainable alternative to traditional solvent-borne coating systems. Waterborne coatings emit lower VOCs, contain negligible styrene, reduce fire hazards and are relatively safer to apply. They offer equal or sometimes superior performance compared to solvent varieties and also help eliminate use & disposal of volatile organic solvents. Modern marine vessels are now increasingly specified with high-solid, 100% waterborne epoxy alternatives post contracting coating, maintenance and fabrication stages. Major coating producers are concentrating on new product innovations, higher solids and customized water-based offerings to tap into this fast growing segment. Gradual shift towards environment-friendly waterborne solutions marks a progressive trend that is likely to significantly influence future dynamics and composition of global marine coatings industry.

[chemicalsources]

Below the Surface: Substrates and Surface Preparation in Marine Coatings"

The global marine coatings market is estimated to be valued at US$ 12,662.7 million in 2021 and is expected to exhibit a CAGR of 6.5% over the forecast period (2021-2028).

Marine coatings play a critical role in protecting ships and offshore structures from the harsh and corrosive marine environment. These coatings not only enhance the aesthetic appeal of vessels but also provide a protective barrier against factors such as corrosion, fouling, and abrasion. The global marine coatings market has witnessed steady growth in recent years, driven by increasing maritime trade activities, the expansion of the shipping industry, and the need for sustainable and efficient coating solutions.

One of the primary drivers of the marine coatings market is the rise in global shipping activities. As international trade continues to grow, the demand for new vessels and maintenance of existing fleets has increased, leading to a higher demand for effective coatings that can withstand the corrosive effects of saltwater. Additionally, the offshore oil and gas industry, which relies heavily on marine structures, also contributes significantly to the demand for advanced coatings.

[trendingreportz]

Electronic Adhesives Market - Forecast (2024-2030)

Electronic Adhesives Market Overview

Electronic Adhesives Market Size is forecast to reach $ 6,820 Million by 2030, at a CAGR of 6.50% during forecast period 2024-2030. Electronic adhesives are used for circuit protection and electronic assembly applications such as bonding components, wire tacking, and encapsulating electronic components. The use of electronic adhesives in manufacturing components for electric vehicles such as printed circuit boards, lithium-ion batteries, and battery pack assemblies are facilitating growth of the market. Growing adoption of surface mounting technology to replace welding and soldering is one of the prominent trends in the electronics industry, shaping the demand for electronics adhesives.

Report Coverage

The report: “Electronic Adhesives Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Electronic Adhesives Industry.

By Type: Thermal Conductive, Electrically Conductive, Ultraviolet-Curing and Others.

By Resin Type: Epoxy, Cyanoacrylates, Polyamides, Phenolic, Silicones, and Others (Acrylics, and Polyurethane)

By Application: PCB’s, Semiconductor, and Others

By End-User Industry: Consumer Electronic (Wearable Devices, LEDs & TVs, Smart Phones & Tablets, Computers, Laptops, and Others), Healthcare, Energy & Power (Solar, Wind, and Others), Telecom Industry, Transportation (Automotive (Passenger Vehicles, Light Commercial and Heavy Commercial Vehicles), Marine, Locomotive, and Aerospace), Oil & Gas, Chemical, Pulp & Paper, and Others. 

By Geography: North America, South America, Europe, APAC, and RoW

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Key Take away

In 2020, North America held the largest share after APAC. Due to growing demand for electronic adhesives in electronics and telecommunication industry. The US hold the largest share in the region over the forecast period.

Growing adoption of electric vehicles is expected to provide a major growth opportunity for the market.

Emission of Volatile Organic Compounds (VOC’s) may deter the market's growth during the forecasted period.

COVID-19 has hindered the market growth owing to the disruption of supply chain and worldwide lockdown.

Electronic Adhesives Market Segment Analysis - By Type

Electrically Conductive segment held the largest share of more than 30% in the electronics adhesives market in 2020. Electrically Conductive are used in various industry verticals such as aerospace, automotive, medical, and telecom products. Electrically conductive is an excellent solution for making electrical contacts on PCBs and other temperature-sensitive substrates, as their curing temperature is below the soldering temperature. An increase in demand for Anisotropic Conductive Adhesives (ACA) in LCD connections, PCBs, and bonding antenna structures further boost the demand for the market. Electric conductive are also used in the LED industry for their capacity to serve as stable electrical contacts by absorbing mismatches, which will likely boost the market's growth for the forecasted period.

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Electronic Adhesives Market Segment Analysis - By Resin Type

Epoxy segments held the largest share of more than 25% in the market in 2020. Epoxy is widely used in electronic applications, either in two-part or single-part heat cure products. Epoxy has good resilience against environmental and media influences, it has a dry and non-tacky surface which is perfect to be used as a protective coating and is widely used in adhesives, plastics, paints, coatings, primers and sealers, flooring, and other. Curing epoxy adhesives can take place either at room or elevated temperature or through photoinitiators and UV light. Modern photoinitiators also react to the special UV spectrum of LED light sources, so that newly developed epoxide resin adhesives can be cured with both UV and UV LED light. Some epoxies exhibit optical properties and diffraction indexes, making them useful for applications in precision optics, lens bonding, and information technology, which will further boost the market's growth.

Electronic Adhesives Market Segment Analysis - By Application

Printed Circuit Boards (PCBs) segment held the largest share of more than 35% in the market in 2020. Electronic adhesives are used as a conformal coating in PCBs. Adhesive is used in wire tracking, potting & encapsulation of components, conformal coatings of circuit boards, and bonding of surface mount components. PCBs are highly reliable, cheap, less chance of short circuit, easily repairable, and are compact in size. The growing uses of laptops, smartphones, and household appliances coupled with developing living standards further drive the growth of PCB. Whereas, the growing uses of PCB’s in automotive, industrial & power equipment, control & navigation systems, and aerospace monitoring also contribute to the market growth. According to Aerospace Industries Association (AIA) report, in 2018, aerospace and defense exports amounted to $151 billion, an increase of 5.81% from the previous year, and civil aerospace accounted for the majority of exports with $131.5 billion.

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Electronic Adhesives Market Segment Analysis - By End-User Industry

Consumer Electronics segment held the largest share of more than 30% in the Electronic Adhesives Market in 2020. Rapid urbanization and increase in the development of new technology have propelled the demand for consumer electronics. As per the United Nations, 55% of the world’s population lives in urban areas, which propel the demand for consumer electronics. The growing demand for lightweight and portable equipment such as smartphones, laptops, and digital cameras are playing a significant role in boosting the demand for the market. As per a report released by Nexdigm Private Limited, a private company, the global electronics industry is expected to reach $7.3 trillion by 2025, which will significantly propel the demand for the market during the forecasted period.

Electronic Adhesives Market Segment Analysis - By Geography

Asia-Pacific held the largest share of more than 45% in the Electronic Adhesives Market in 2020. China, India, and Japan are the major contributors to the growth of Electronic Adhesives Market in APAC. The large consumer base, developing manufacturing sector, and increase in middle-class population along with smart city projects are major factors for the market growth. As per the Indian Brand Equity Foundation (IBEF) report released in 2020, electronics manufacturing in India is expected to reach $163.14 billion by 2025, and demand for electronics hardware in India is expected to reach US$ 400 billion by 2024. The shifting of production lines to the APAC region for the low cost of production and the ability to serve the local emerging market is another factor for the growth of the market in the region.

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Electronic Adhesive Market Drivers

Growing Need for Miniaturized Electronic Products 

Growing demand for low-cost, reliable, and miniaturized electronic devices from consumers propel the market's growth. The increasing demand for miniaturized products has led to the development of smaller electrical components, which occupy less area. The need for smaller and thinner consumer electronics devices is a new trend among consumers. The surface mount technology helps in using and assembling much smaller components, thus facilitating a smaller, portable, and lightweight electronic device. Pocket calculators, smartwatches & other wearable devices are some of the examples. Such miniature devices will further drive the demand for electronic devices and in return will boost the demand for the Electronic Adhesives Market as they are used in manufacturing these devices.

Introduction of 5G Network 

Introduction 5G networks are planned to increase mobile broadband speeds and added capability for 4K/8K video streaming, virtual reality (VR) or augmented reality (AR), Internet of Things (IoT), and mission-critical applications. Introduction of 5G will boost the telecommunication industry, with better coverage, and internet speed, which also create a demand for Electronic Adhesives Market as they are used in manufacturing telecom devices. 5G will transmit data ten times faster than 4G and is set to take hold in 2020. This will spark a revolution in many industries such as electronic, energy, medical, automotive, defense, aerospace and others, which will boost the market's growth. 5G will impact the viewing experience for consumer, with its VR & AR which will further boost the demand for consumer electronic industry, which in return will boost the demand for electronic adhesive market.

Electronic Adhesive Market Challenges

Technological Changes & VOC Emission

The market is facing challenges due to technological changes. Shorter leads can damage temperature-delicate components in several applications and to overcome such obstacles electrical components should be assembled after soldering. However, this hampers productivity due to higher costs of production and time consumed in the manufacturing process. Growing concern over the emission of volatile organic compounds (VOCs) is expected to hamper the market growth over the coming years. During the manufacturing of electronics adhesives, VOC is discharged that may pose health and environmental concerns. VOCs are the major contributors to smog and ozone formation at low atmospheric levels.    

Emergence of COVID 19

The COVID-19 pandemic continues to unfold everyday with severe impact on people, communities, and businesses. And the Electronic Adhesives Market was no exceptional, as the global production facilities of the electronics, parts have been reduced due to the logistics slowdown and unavailability of the workers. Furthermore, various e-commerce sites had discontinued the delivery of non-essential items which included electronics devices, which affected the electronic industry.

Electronic Adhesive Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Electronic Adhesives Market. In 2020, the market of electronic adhesives has been consolidated by the top 10 players accounting for xx% of the share. Major players in the Electronic Adhesives Market are BASF SE, Panacol-Elosol GmbH, 3M Co., H.B. Fuller Co., Henkel AG & Co. KGaA, Hitachi, Ltd., Mitsui & Co., Ltd., Bostik, Inc., Chemence Inc., tesa SE, Parker Hannifin Corp., Meridian Adhesives Group, among others.

Acquisitions/Technology Launches

In November 2019, Bostik, Inc., announced it has launched a new range of innovative engineering adhesives Born2Bond™, for bonding applications in automotive, electronics, luxury packaging, and medical devices. With this new launch Bostik will not only expand its product portfolio but also expand it offering to various industries, which will further drive the market's growth.  

In September 2020, Meridian Adhesives Group, a leading manufacturer of high-value adhesives technologies has announced that the “Company” would be serving the Electric Vehicles Market and provide its adhesive solution, with this announcement Meridian Adhesives would expand its product offering in automobile industry, which will further derive the market's growth.

Key Market Players:

The Top 5 companies in Electronic Adhesives Market are:

Panacol-Elosol GmbH

3M 

H.B. Fuller Company

Henkel AG & Co.KGaA

Parker Hannifin Corp.

[researchrealmblog]

Graphene Coating Market Will Advance at a 29.0% CAGR

The graphene coating market was USD 166.6 million in 2023, and it will increase to USD 979.1 million, with a 29.0% compound annual growth rate, by 2030.

This growth can be ascribed to the rising need for high-performance coatings as well as innovative manufacturing methods. Furthermore, these materials are strong and possess the possibility to decrease maintenance requirements, which complies with the increasing focus on sustainability.

The corrosion resistance category, on the basis of application, is likely to advance at the highest compound annual growth rate, of 30%, in the years to come. Surfaces coated with graphene-containing materials are stronger and last longer, as this allotrope of carbon defends against corrosion. 

Automotive, oil & gas, marine, manufacturing, and infrastructure sectors strongly depend on corrosion-resistant coatings to protect their assets. The requirement for more efficient anti-corrosion products has improved owing to the rising emphasis on enhancing the beneficial lives of equipment and structures. 

The medical devices category, on the basis of end user, will advance at the fastest compound annual growth rate, of 28%, in the years to come. The biocompatibility of graphene’s makes them suitable for biomedical applications, such as tissue designing, drug delivery systems, clinical inserts, and biosensors. 

On the other hand, the automotive category was the largest contributor to the graphene coating market in 2023, with a 45% share. This can be mainly attributed to the fact that graphene coatings are extensively employed in various automotive components since they help in improving strength as well as overall effectiveness. 

Moreover, their robust protection from corrosion makes them ideal for protecting auto components from damage or rust caused by exposure to severe environments or road conditions.

APAC is likely to advance at the fastest compound annual growth rate, of 32%, in the years to come. This can be because of the constantly surging populace in this region. The economic development in this region increases the attention to these materials across different businesses, such as automotive, aerospace, electronics, marine, construction, and medical.

In addition, the government backing as well as the dynamic consumer base for different sectors are further assisting the growth of the regional industry.

On the other hand, North America was the second-largest contributor to the industry in 2023, with a 25% share. This can be primarily because of the rising need in from energy and aerospace sectors, coupled with the high requirements for lightweight, strong, environment-friendly, and efficient products.

It is because of the surge in the need for high-performance coatings, coupled with enhanced manufacturing techniques, the graphene coating industry will continue to grow significantly in the years to come.

Source: P&S Intelligence

[credenceresearchdotblog]

The vinyl ester market is projected to grow from USD 1,325 million in 2024 to USD 2,095.96 million by 2032, reflecting a compound annual growth rate (CAGR) of 5.9%.The global vinyl ester market has been gaining substantial momentum, driven by the increasing demand from various end-use industries, including automotive, construction, marine, and chemical processing. Vinyl esters are versatile, highly durable thermoset resins formed by the esterification of epoxy resins with unsaturated carboxylic acids. Known for their exceptional resistance to corrosion, impact, and chemicals, vinyl esters serve as a reliable alternative to other resins, such as epoxy and polyester. In this article, we will examine the key drivers, challenges, applications, and regional outlook of the vinyl ester market.

Browse the full report https://www.credenceresearch.com/report/vinyl-ester-market

Market Drivers

1. Demand for Corrosion-Resistant Materials One of the primary drivers in the vinyl ester market is the demand for materials that can resist corrosion in aggressive environments. Industries such as marine, oil & gas, and chemical processing rely on materials that withstand high levels of exposure to harsh chemicals and corrosive elements. Vinyl ester resins are especially suitable for environments where metals would typically corrode, providing a longer life span for structures and equipment. This has fueled demand for vinyl esters in applications such as tanks, pipes, and storage vessels.

2. Growing Construction Industry The construction industry is one of the largest consumers of vinyl ester resins, mainly for their application in structural components and anti-corrosion coatings. Vinyl esters are preferred in construction due to their resistance to cracks and impact, which makes them ideal for high-stress environments. The expanding urbanization and infrastructure development projects worldwide are expected to further boost demand, particularly in emerging economies.

3. Automotive and Transportation Applications In the automotive sector, vinyl esters are employed in lightweight, high-performance components. As manufacturers seek ways to enhance fuel efficiency and reduce emissions, there is an increased focus on lightweight materials, including composites made from vinyl esters. Their application in parts such as frames, body panels, and under-hood components has become increasingly popular, and as the electric vehicle market grows, demand is expected to increase further.

Key Applications

1. Pipes and Storage Tanks Due to their chemical resistance and durability, vinyl esters are extensively used in pipes, storage tanks, and containers that store and transport chemicals, fuel, and other corrosive substances. Vinyl ester resins provide a robust solution, enhancing the life span of these storage systems and reducing maintenance costs.

2. Marine Industry In the marine industry, vinyl esters are used for the production of hulls, decks, and other structural parts of boats and ships. Their resistance to water and chemicals makes them an ideal choice, as they help reduce maintenance costs and improve the longevity of marine vessels.

3. Construction and Infrastructure Vinyl esters are widely used in construction, especially in environments exposed to chemicals and moisture, such as sewage treatment facilities and water treatment plants. In addition, they are used in concrete and structural reinforcements to enhance durability and prevent cracking.

Market Challenges

1. High Cost of Vinyl Ester Resins While vinyl esters offer superior properties, they are relatively more expensive than traditional polyester resins. This cost factor can limit their adoption in price-sensitive markets, especially for applications where high chemical resistance is not a critical requirement. Industries that operate on thin margins may find it challenging to incorporate vinyl ester products, impacting overall market growth.

2. Health and Environmental Concerns The production of vinyl ester resins involves chemicals that can be harmful if not handled correctly. Regulatory authorities such as the Environmental Protection Agency (EPA) and European Chemicals Agency (ECHA) have placed restrictions on certain chemicals used in resin production, which could impact the vinyl ester market. Additionally, there is a growing emphasis on sustainability, and consumers are demanding eco-friendly alternatives, pushing manufacturers to innovate greener formulations.

Future Outlook

The vinyl ester market is anticipated to grow steadily over the coming years, supported by its expanding applications and enhanced performance characteristics. However, manufacturers will need to address cost challenges and environmental concerns to ensure sustainable growth. Innovation in green formulations and recycling options could further open up opportunities in the market. As industries increasingly prioritize durability, efficiency, and sustainability, the versatility of vinyl esters could solidify their position as a valuable material in various sectors.

Key Player Analysis

AOC (US)

DIC Corporation (Japan)

SWANCOR (Taiwan)

Hexion Inc. (US)

INEOS Composites (US)

BUFA Composites (Germany)

Reichhold LLC (US)

Allnex GmbH (Germany)

Sino Polymer Co., Ltd. (China)

Polynt S.p.A. (Italy)

Resonac Holdings Corporation (Japan)

Scott Bader Company Ltd. (UK)

Interplastic Corporation (US)

Poliya (Turkey)

Nivitex Fibreglass & Resins (South Africa)

Segments:

Based on Type:

Bisphenol A Diglycidyl Ether (DGEBA)

Epoxy Phenol Novolac (EPN)

Brominated Fire Retardant

Others

Based on Application:

Pipes & Tanks

Paints & Coatings

Transportation

Pulp & Paper

Others

Based on the Geography:

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of the Middle East and Africa

Browse the full report https://www.credenceresearch.com/report/vinyl-ester-market

Contact:

Credence Research

Please contact us at +91 6232 49 3207

Email: sales@credenceresearch.com

Website: www.credenceresearch.com

[industrynewsupdates]

How Market Trends Present Opportunities in the Maleic Anhydride Market

The global maleic anhydride market is projected to reach a size of USD 4,386.1 million in 2023, with expectations of expanding at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2030. This growth can be largely attributed to the increasing demand for unsaturated polyester resins (UPR), which are a primary component in the production of fiberglass-reinforced resins. These resins find extensive applications in various industries, including automotive and marine sectors, as well as in construction products like sinks, countertops, and bathtubs.

In North America, the United States stands out as the largest consumer of maleic anhydride, commanding a revenue share of 82.9% in 2023. This dominance is linked to the rapid expansion of key industries such as agriculture, automotive, and construction. According to TST Europe, total construction spending in the U.S. reached approximately $1.98 trillion in 2023, marking a 7.4% increase from the previous year. This growth was particularly pronounced in nonresidential construction, which saw a significant 17.6% year-over-year increase, while residential construction spending experienced a decline of 3% due to rising interest rates and inflationary pressures. Additionally, the U.S. consistently constructs structures valued at over USD 1.8 trillion annually, which is expected to further bolster the maleic anhydride market in the country.

Gather more insights about the market drivers, restrains and growth of the Maleic Anhydride Market

Drivers, Opportunities, and Restraints

Unsaturated polyester resins play a critical role in the automotive sector, serving as body fillers that facilitate rapid reconstruction and repair of damaged vehicle components. They are also used as putty in car painting processes, ensuring a smooth finish by masking any imperfections. UPRs provide excellent adhesion for paint, which enhances the durability of the coating applied. Specifically, these resins are commonly utilized in the repair of bumpers, doors, roofs, and interior components affected by accidents. As global car accident rates continue to rise, the demand for UPR is anticipated to increase, subsequently driving up the need for maleic anhydride.

Moreover, maleic anhydride is integral to a variety of industries, including automotive, building and construction, pharmaceuticals, and personal care and cosmetics. The rising demand for unsaturated polyester resins in automotive and construction applications is poised to significantly boost the market for maleic anhydride. Additionally, the incorporation of additives in the automotive sector aimed at improving fuel efficiency and reducing emissions is likely to further fuel the demand for this chemical compound.

The production of maleic anhydride primarily relies on feedstocks such as n-butane and benzene. The global prices of these feedstocks are closely tied to the trends in crude oil and naphtha prices. The volatility of crude oil has been a significant factor contributing to the fluctuations in benzene prices. Consequently, the pricing of crude oil and the downstream demand from various industries have a considerable impact on the global petroleum derivatives market, influencing the availability and cost of maleic anhydride.

The maleic anhydride market is positioned for growth driven by robust demand from multiple industries, particularly in applications utilizing unsaturated polyester resins. As the automotive and construction sectors expand, and as new regulations drive the need for more efficient materials, the outlook for maleic anhydride remains positive, with ample opportunities for development and innovation.

Order a free sample PDF of the Maleic Anhydride Market Intelligence Study, published by Grand View Research.