Bulk & Specialty Chemicals
Lignosulfonates Market to collect huge revenue via animal binder sector over 2016-2024, APAC to spur the regional demand
Lignosulfonates Market is expected to witness a striking growth over the next few years, owing to the widespread product applications in oil well additives, animal feed binders, concrete admixtures, and dust control. Key factors driving lignosulfonates market growth include the rising global population along with the escalating demand for high-grade infrastructure facilities across the residential and non-residential sectors. The product is basically used as a water-reducing chemical and is available at affordable costs, which explains its huge popularity amidst numerous end-use sectors. According to Global Market Insights, Inc., “Lignosulfonates industry revenue, which was estimated at USD 700 million in 2015, is slated to hit USD 973 million by 2024.”
U.S Lignosulfonates Market size, by application, 2013-2024 (USD Million)
The thriving construction sector is expected to create lucrative growth opportunities for lignosulfonates industry, driven by the mounting product usage as a water-reducing agent in cement admixtures for enhancing its utility across construction activities at elevated temperatures. Cement admixture applications, which contributed to more than 25% toward lignosulfonates market size in 2015, are expected to witness a massive growth over the coming years. The growth can be attributed to high product usage in the construction projects.
Animal feed binder applications are forecast to grow at CAGR of more than 4% over 2016-2024, driven by the product’s ability to increase the weight of animals. The product is also renowned to benefit the gastrointestinal tract of animals. Global animal feed size, which was assessed at 970 million tons in 2015, is forecast to surpass 1 billion tons by 2024, which in turn, will favorably leverage the lignosulfonates industry value in the near future.
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Lignosulfonates industry size in the oil well additives sector, which was evaluated at USD 55 million in 2015, is anticipated to register a remarkable growth over the coming seven years. Growing explorations of oil wells across the Middle East and Africa and the U.S. will push the revenue. The product’s ability to act as a cement retardant across the oil well additives sector will further boost the growth.
Considering the regional trends, North America lignosulfonates market, which produced a revenue of USD 130 million in 2015, is expected to display a substantial growth over the next few years. The growth can be attributed to thriving Animal Feed Additives Market across the region. The U.S. is projected to make substantial contributions towards the regional revenue.
Asia Pacific lignosulfonates industry is expected to record notable gains of more than 4.5% over the years ahead, driven by the higher spending on construction activities across regions such as Japan, China, and India.
Magnesium, calcium, and sodium are the major lignosulfonates products. Sodium lignosulfonates industry size, which was estimated at USD 290 million in 2015, is projected to grow at a rate of over 3% during the period from 2016 to 2024. The growth can be ascribed to the product’s commercial use as a plasticizer across concrete admixtures and pellet binders in the animal food. High product preference for dust control applications over the traditional chloride substances will further boost the demand.
Lignosulfonates industry share is highly consolidated with top six players contributing to more than 50% of the overall revenue in 2015. Industry players will try to increase their market share by implementing key business growth strategies such as product differentiation, strategic alliances and unique product developments. Domsjö Fabriker AB, Borregaard LignoTech, Nippon Paper Industries Company Limited, Tembec Incorporation, Green Agrochem, Burgo Group S.p.A., Qingdao New World Arts & Crafts Material Company Limited, Flambeau River Papers LLC, and Shenyang Xingzhenghe Chemical Company Limited are the key participants of Lignosulfonates market.
Author Name : Dhananjay Punekar
Dimethyl Ether Market to acquire maximum gains via transportation fuel application over 2016-2024, Asia Pacific to drive the industry share
A prominent factor facilitating the commercialization of Dimethyl Ether Market is the increasing proliferation of the product as an alternative transportation fuel. With the growing concerns over energy security, environmental pollution, and future oil supplies, the global population is seeking for non-petroleum-based alternative fuels that would optimize the energy consumption. Owing to its ability to considerably reduce SOx, C0x, and other particulate matter emissions, the potential impact of DME as an alternative high-efficiency ignition fuel is huge compared to other fuel counterparts. These fuels’ amenability of easily blending with LPG without hampering the resultant byproduct is escalating dimethyl ether market demand. The LPG-DME blend makes it one of the most attractive options of transportation fuel both for petrol as well as diesel engines. As per a report by Global Market Insights, Inc., “Dimethyl ether market is projected to almost double its revenue share from its base valuation of USD 5 billion in 2016, with an estimated CAGR of 9.9% over 2016-2024.”
U.S. Dimethyl Ether Market size, by application, 2013-2024 (USD Million)
The eco-friendliness of dimethyl ethers can be majorly given the credit for the market’s remarkable expansion across automotive as well as domestic sectors. Regulatory norms initiated by the government pertaining to minimization of carbon emission has significantly complemented the business landscape in this domain. The overall growth of dimethyl ether market from transportation fuel is expected to witness maximum growth with 14% CAGR over 2016-2024. However, in comparison to diesel fuel, DME has a lower viscosity level which may act as a roadblock in the growth path of the market. Regionally, Europe dimethyl ether market is highly influenced from this application domain with expectations to grow over 10% CAGR over 2016-2024. Growing investments by the automakers in low emission vehicles are favoring the business landscape. Ford Motors, for instance, is noticeably investing significant capital in the research activities pertaining to advanced internal combustion engines.
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Aerosol propellants is another niche application domain contributing significantly toward the global dimethyl ether industry share. This application domain already held a billion-dollar business in 2015. Relatively low cost, low toxicity, high efficiency, and extensive boiling point and vapor pressure range are some of the characteristics of DME that allows the products’ widespread adoption in aerosol propellants.
Bio based and fossil fuels are the two major bifurcations of dimethyl ether market based on the raw materials used. Increasing demand for cleaner fuel both for domestic as well as industrial purposes is fueling bio-based dimethyl ether market demand. Furthermore, increasing penetration of this product in aerosol propellant applications is leaving a proportional impact on the market dynamics. As per estimates, the biobased market is slated to grow substantially at an annual rate of 11% over the coming seven years. Volatile crude oil price trends along with easy availability of natural gas are the two major factors propelling the market growth. With a projected CAGR of 8% over2016-2024, fossil fuel based dimethyl ether market is expected to witness steady gains in the years ahead.
Asia Pacific market led by China and India holds a prominent position in the global dimethyl ether industry, subject to its major revenue contribution toward the overall share in 2015. The growing population of China and the extensive product usage for domestic purposes are the two major grounds influencing the regional market growth prospect. In addition to this, the expanding production base with extensive capacities is also allowing Japan to stand as a strong contender in the APAC dimethyl ether market.
Dimethyl ether is a fuel with minimum lubrication property. Due to this, traditional injection systems and fuel delivery cannot be used in conjunction with it. Though this compatibility issue is acting as a major hindrance to growth trajectory of the market, however, oscillating crude oil price trends which is pushing the consumers to opt for a substitute, is providing lucrative business opportunities for dimethyl ether market. Some of the prominent industry players include Akzo Nobel NV., China Energy Ltd, Korea Gas Corporation, Mitsubishi Corporation, and Royal Dutch Shell PLC.
Author Name : Satarupa De
Active calcium silicate market to witness massive demand from construction industry, Asia Pacific to prominently drive the global demand
Strong growth in the infrastructural spending has carved a profitable growth map for the global Active Calcium Silicate Market. Active calcium silicate finds extensive application in the construction industry, owing to its properties such as high-temperature stability and sound absorption. Active calcium silicate market offers a wide product availability in the form of powder, boards, blocks and is used for fire protection, in Portland cement, acoustic insulation, ceramics, and paints & coatings. Active calcium silicate industry has witnessed an upsurge with rising demand from the construction projects including airports, flyovers, highways, fire stations, and other commercial complexes. As per statistics, the global construction spending in 2015 exceeded USD 7 trillion and is projected to record over USD 15.5 trillion by 2024, expanding at 7.5% CAGR over 2016-2024. Within the global construction expenditure, Asia Pacific held for more than 20% in 2015, owing to rapid infrastructural growth in the emerging economies.
U.S. active calcium silicate market size, by application, 2013-2024 (USD Million)
China is witnessing significant government initiatives toward installing fire protection in commercial and residential buildings, which in turn is stimulating the regional active calcium silicate market. Moreover, presence of huge industries including plastics, paint & coatings, rubber, and cements manufacturing units have accelerated the product deployment for high temperature insulation applications. This has boosted the product demand in China and the regional active calcium silicate market is projected to surpass 15 kilo tons in term of volume by 2024.
The global active calcium silicate industry is set to garner huge profit from its fire protection applications. The product is widely used in boards & blocks form in oil refinery, blast furnace, building walls, and electric arc furnace. Active calcium silicate market share from the fire protection application is estimated to generate sales of USD 135 million by 2024. The EAPFP (European Association for Passive Fire Protection) has imposed regulations and guidelines regarding the harmonization of fire safety standards for the commercial and residential buildings. Properties of active calcium silicate which includes adhesiveness, intumescent, and fire resistance have broadened the application scope to acoustic tiles and wallboards.
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Supportive regulations by ASTM in the United States to formulate, direct, and regulate fire safety standards and to conduct test methods on acoustic and thermal insulations have significantly favored the regional market growth. U.S. active calcium silicate industry, owing to such favorable support, is expected to grow at 3.5% CAGR over the period of 2016-2024. Apart from US, these test methods and quality standards are also heavily regulated across Germany, Italy, and France.
Another strong application trend of active calcium silicate is in Ceramic Tiles Market, which is anticipated to grow at a rate of 9% over 2016-2024. The overall active calcium silicate market from ceramic application is likely to register a growth rate of 3.5% from 2016-2024, owing to growing application in false ceiling, plaster of Paris, tiles, and roof manufacturing products as it possesses properties such as hardness, high melting point, corrosion resistance, and light weight.
These advantages of ceramics have propelled its heavy demand in replacement of tiles for improved aesthetic appearance. Brazil active calcium silicate market is poised to see a consumption exceeding 90 tons by 2024, owing to growing trend toward high quality ceramic tiles as a substitute for conventional walls and floors.
According to Global Market Insights, Inc., active calcium silicate market is projected to generate revenue worth USD 215 million with the global consumption target of 119 kilo tons by 2024. The global active calcium silicate market is also witnessing an upliftment with surging trade statistics. South Africa, UAE, and Saudi Arabia may witness product shortfall and can thus increase its product import. However, this scenario can provide a fair opportunity for the regional manufacturers to boost their manufacturing activities to balance the regional demand. The global market experiences a fierce competition among the industry players. Prominent active calcium silicate industry players include Promat International, Ramco Industries, American Elements, Imerys Filtration Minerals, 2K Technologies, Anglitemp, and HIL Limited.
Author Name : Ojaswita Kutepatil
PP Nonwoven Fabrics Market from furniture applications to witness maximum gains over 2016-2024, Germany to prominently drive the regional landscape
Increasing requirement of superior and hygienic fabric for various medical applications will stimulate PP nonwoven fabrics market over the years ahead. Subject to its superior properties, this product is mainly used to manufacture baby diapers. The product’s strength is a principal factor that leads to its application across the automotive sector, thereby favorably influencing PP nonwoven fabrics industry share. The rising proliferation of technology and the enforcement of regulatory norms across various countries will fuel the product demand. According to Global Market Insights, Inc., “Worldwide PP Nonwoven Fabrics Market having had a revenue of USD 18 billion in 2015, will collect a revenue of USD 40.2 billion by 2024 with an estimated consumption of 13 million tons.”
Europe PP Nonwoven Fabrics Market size, by Product, 2015 & 2024 (USD Million)
Germany PP nonwoven fabrics market size is forecast to exceed a valuation of more than 650 kilo tons by 2024. The growth can be attributed to shifting trends toward the usage of hygienic products. In addition, the industry giants across Europe have been looking out for innovative technological developments and upgradation, owing to the deployment of technology related norms across this region. PP nonwoven fabrics market share from the hygiene sector will collect a revenue of USD 18 billion by 2024, as the product is primarily used to manufacture baby diapers, feminine disposables, incontinence, and wipes. Surging requirement of incontinence products across the U.S. pertaining to the rapidly growing geriatric population will also influence PP nonwoven fabrics industry.
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Speaking along similar lines, U.S. PP nonwoven fabrics industry will surpass a revenue collection of USD 7.5 billion by 2024. Escalating use of the product for various applications such as automotive, construction, and geotextiles will augment the industry growth. In addition to this, consumers across this region are giving preference to hygienic products, which will stimulate product demand notably. The ever-rising elderly population is another prominent factor boosting PP nonwoven fabrics market size. Taking into account the product strength and durability, staples have been gaining popularity across the sectors such as automotive, geotextile, and construction. PP nonwoven fabrics market share from staples will register a CAGR of more than 7% over the period of 2016 to 2024.
Increasing spending capability along with shifting trends toward the adoption of hygienic products such as baby diapers and wipes will propel China PP nonwoven fabrics market, which will surpass a revenue collection of USD 6 billion by 2024. The noteworthy participants in PP nonwoven fabrics market are AVGOL, Kimberly-Clark, Polymer Group, Fibertex Nonwovens, Mitsui & Co., Toray, First Quality, SABIC, and PEGAS.
The industry players across the regions such as Europe, U.S. and China are investing heavily into healthcare sector to manufacture the products such as gowns, drapes, bed linen, masks, surgical caps, under pads, ostomy liners, gloves, incubator mattress, and shrouds. Such a widespread range of product usage will influence the medical application segment, which will generate a volume of more than 2 million tons by 2024.
Spunbonded products dominated the product segment of PP nonwoven fabrics market in 2015 by accounting for 50% of the market share and will collect a revenue of more than USD 19 billion by 2024. Spunbonded based products are cost effective due to the simple and economical manufacturing process as compared to other products. The product finds applications across various sectors such as automotive, furnishing, and medical.
Market players have been focusing on strategic partnerships to improve their product portfolio as well as to expand their global presence. These strategies are likely to bring about a plethora of opportunities for industry giants to sustain their position in global PP nonwoven fabrics market.
Author Name : Sunil Hebbalkar
Europe High Performance Films Market to witness lucrative growth prospects over 2016-2024, surging demand from the packaging and electronics sectors to accelerate the regional revenue
The extensive commercialization of the packaging sector will lead High Performance Films Market to carve a rather profitable roadmap for itself. This can be attributed to the excellent mechanical and aesthetic properties that high performance films possess, owing to which they are used for durable and lightweight packaging applications. Flexible packaging market, slated to grow at a rate of 5% over 2016-2024, will also contribute toward high performance films industry share. These films are endowed with the characteristics of durability, high chemical resistance, high tensile strength, UV ray protection, and temperature and light control, owing to which they find applications in the food & beverage, interior decoration, and construction sectors, thereby propelling the business trends.
U.S. High Performance Films Market size, by application, 2013-2024 (USD Billion)
Surging demand for coating windows and doors for the purposes of safety and security will increase the product demand. In addition, the requirement for easy-to-dispose and lightweight packaging from the F&B sector will propel high performance films market, slated to cross USD 54 billion by 2024, with a CAGR estimation of 6% over 2016-2024. These films find extensive applications across the personal care, packaging, and electronic sectors. As per estimates, high performance films industry share from packaging applications was worth USD 20 billion in 2015 and is slated to register considerable revenue over 2016-2024.
Packaging applications are forecast to be one of the most lucrative end-use segments across North America and the Middle East. North America high performance films market was worth USD 4 billion in 2015 and is anticipated to register a revenue of USD 16 billion in 2024, primarily due to the escalating demand for lightweight and convenient packaging in the food & beverage sector. In addition, the barrier high performance films industry will observe excellent growth across this region, pertaining to the increasing product demand from the solar cell manufacturing and semiconductor companies, due to its excellent feature of moisture resistance. Speaking of which, barrier high performance films market was worth USD 15 billion in 2015 and is anticipated to carve out a lucrative growth path ahead.
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The application spectrum of high performance films industry is indeed appreciable. Subject to the product properties of chemical inertness and low moisture absorption coupled with its dielectric and low friction co-efficient properties, these films find applications across microphone, photovoltaic devices, and cable insulation, thereby propelling high performance films market trends. In addition, these films are utilized for vacuum packaging, low oxygen technologies, and oxygen scavenging in the meat processing companies. The vast application of these films in numerous end-use sectors will help high performance films industry experience excellent growth prospects over the coming years.
Microporous films are defined by the properties of low moisture absorbing, water repellence, and air penetration, pertaining to which they are extensively used for waterproofing application across the constructions sector. On these grounds, microporous high performance films market will grow at a rate of 4% over 2016-2024.
Polycarbonate products, endowed with the properties of high glass transition temperature, excellent impact resistance, and durability, are used in the manufacturing of automotive, & aircraft components, construction material, data storage discs (DVDs, BluRay discs, and CDs), and other electronic components. On these grounds, polycarbonate high performance films industry size will surpass 500 kilo tons by 2024, in terms of volumes. Pertaining to their widespread usage in the electronics sector, this segment will register excellent growth across Europe, subject to the highly developed electronics market in this continent. In addition, owing to the surging demand from the packaging sector, Europe high performance films industry will grow significantly over the next few years, having accounted for 28% of the overall share in 2015.
High performance films find applications in feminine and adult incontinence products and disposable diapers, pertaining to which high performance films share from the personal care sector is anticipated to cross 940 kilo tons by 2024, in terms of volume, with a CAGR estimation of 4% over 2016-2024. Increasing awareness regarding health and hygiene will further augment the product demand.
Polyester is one of the key products of high performance films industry. It is one of the most favorable products suitable for the packaging sector. Escalating urbanization trends couples with huge investments in the residential constructions sector will spur polyester high performance films market, which held a valuation of more than USD 20 billion in 2015. Subject to the surging demand from the construction, automotive, and F&B packaging sectors, nylon high performance films industry is forecast to grow at a rate of 4% over 2016-2024. The aforementioned products find heavy demand across Asia Pacific and LATAM, owing the escalating construction sector and the rapidly growing economy.
High performance films market from the construction sector is anticipated to cross USD 3 billion by 2024, pertaining to the aesthetic and mechanical properties of these films. The surging automotive sector across APAC coupled with reduced manufacturing costs and the huge availability of cheap labor will stimulate Asia Pacific high performance films industry, which was worth more than USD 9 billion in 2015. In addition, APAC high performance films market from automotive sector is expected to cross 230 kilo tons by 2024, in terms of volume, with a CAGR estimation of 5% over 2016-2024. This growth can be attributed to the growing automobile production and availability of labor at low prices.
High performance films industry involves the participation of numerous companies that accumulate a significant share of other industries as well. The reason for this may be credited to the broad end-use spectrum of high performance films market. Renowned biggies such as Bayer Material Science, Dow Chemical Company, 3M, Honeywell, Bernis, DuPont, Evonik, Sealed Air Corp., and Clopay Plastic are key participants of global high performance films market.
Keeping in line with the conventional industry trends, companies often engage in partnerships and strategic collaborations with third party vendors to expand their geographical presence. The 2012 alliance between Solutia and the Eastman Chemical Company is an example of one such collaboration that served to expand the presence of the latter to a considerable extent.
Author Name : Saipriya Iyer
Copper Oxychloride Market to witness heavy growth prospects via fungicide applications over 2016-2024
Global requirement for fresh food pertaining to the increasing population will stimulate copper oxychloride market. Most farmers and landowners use this product to increase the crop yield. Growing awareness among the customers about the consumption of healthy and hygienic food will also influence the product demand. In addition, copper oxychloride industry is characterized by favorable government support promoting the usage of agrochemicals. According to Global Market Insights, Inc., “Worldwide Copper Oxychloride Market generated a revenue of USD 230 million in 2015 and will register an annual growth rate of more than 4% over the period of 2016 to 2024.”
U.S Copper Oxychloride Market size, by application, 2013-2024 (USD thousand)
The product is mainly used for the maintenance of agricultural products by controlling bacterial impact. In most cases, the product is used while growing fruits and vegetables, owing to the fact that they contain essential vitamins and minerals. The demand for fruits and vegetables has always been on an all-time high in North America, owing to which North America copper oxychloride market will record notable annual growth rate over the coming seven years, having held a valuation of more than USD 55 million in 2015. U.S. will be the prominent revenue contributor for this region. To increase the crop production, farmers have been using this product across the U.S. on a significantly large scale, which will boost the regional copper oxychloride industry size notably.
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Consumers across the globe are giving preference to highly efficient and effective products for better output. The use of fungicides for crop protection is rather common among farmers, as crop protection will ensure quantitative as well as qualitative crop yield. Copper oxychloride market from fungicide applications of will record a CAGR of more than 4% over the years ahead. The product is prominently used to manufacture agricultural fungicide, which is extensively used for producing tomatoes, grapes, citrus, coffee, potatoes, stone fruit, avocados, celery, and carnations.
Rapid industrialization across the globe is one of the most notable factors fueling copper oxychloride market. Subject to the decreasing arable land and the surging need to improve land productivity, Asia Pacific copper oxychloride market will exhibit an annual growth rate of more than 4% over the coming seven years, having collected a revenue of USD 55 million in 2015. The growth can also be attributed to the rising demand for vegetables and fruits pertaining to escalating population along with rapidly changing eating habits of consumers. India and China will contribute significantly toward the APAC copper oxychloride market share.
Apart from the agriculture usage, the product is also applicable for commercial feed supplements and colorant & pigments. It is used in manuscripts, illuminations, and wall paintings. As per statistics, copper oxychloride industry from colorants and pigment applications collected a revenue of USD 5 million in 2015 and will record considerable growth rate over the coming timeframe, owing to the surging demand of the product across the glass and ceramics manufacturing sector. Copper oxychloride is also extensively used in feed supplements to increase nutrition level. Feed supplement application segment of copper oxychloride market will generate a revenue of USD 8 million by 2024. The growth can be attributed to growing use of the product in the different feed formulations for dairy cattle, horses, turkeys, pets, pigs, and chickens.
The key participants in copper oxychloride market are Albaugh, Isagro, Biota Agro Solutions, Spiess-Urania, IQV, Syngenta, Killicks Pharma, Manica S.p.A, Vimal Crop Care, and Greenriver.
Author Name : Sunil Hebbalkar
Acrylonitrile Butadiene Styrene (ABS) Market to accrue massive revenue via appliance sector over 2016-2024, APAC to majorly drive the regional share
Key business growth strategies such as mergers & acquisitions, joint ventures, and product innovations are expected to strongly leverage ABS market development. For instance, INEOS Styrolution, a world leader in the styrenics sector, completed the purchase of K-Resin ® SBC business from Daelim and Chevron Phillips Chemical earlier this year after receiving all the necessary approvals from the regulatory authorities. This acquisition deal will help the firm focus on raising the production of specialty styrenics products across the globe as per the consumer requirements and thus enhance its global presence. Business players make strategic collaborations or partnerships for developing high quality products with the help of technical knowhow, positively impacting the market trends. According to Global Market Insights, Inc., “Acrylonitrile Butadiene Styrene (ABS) industry value, which was estimated at USD 22.3 billion in 2015, is forecast to hit USD 38 billion by 2024.”
China Acrylonitrile Butadiene Styrene (ABS) Market Share, By Application, 2015
Favorable product features such as high durability, lightweight, heat resistance, design flexibility, and corrosion & chemical resistance will create a profitable roadmap for Acrylonitrile Butadiene Styrene (ABS) market. High product preference can be attributed to its fabrication ease and cost-effective nature as compared to other products. Low steel utilization across the manufacturing business, subject to the rising need for improving the visual appearance as well as aesthetic value of the manufactured items will benefit Acrylonitrile Butadiene Styrene (ABS) industry.
Considering the topographical trends, U.S. ABS market is anticipated to surpass a targeted revenue margin of USD 3 billion by 2024, owing to escalated product popularity across automotive and consumer goods sectors. Asia Pacific industry, which accounted for more than 68% of the global ABS industry share in 2015, is projected to observe a huge surge over the next few years. High product demand for household appliances and construction sectors will boost the profit. The construction sector in APAC, worth USD 1550 billion in 2015, is slated to grow at a rate of 5% over 2016-2024. India and China are likely to be major regional revenue contributors.
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Europe ABS industry is set to record a CAGR of 6% over the coming seven years, driven by high product usage in air conditioners, car exteriors & interiors, fax machines, vacuum cleaners, kitchen appliances, and refrigerator door liners. Germany is expected to be the key regional growth driver.
Consumer goods, electrical & electronics, construction, automotive, and appliances are the key sectors across which Acrylonitrile Butadiene Styrene is widely used. ABS industry size in electrical & electronics sector is expected to grow at a CAGR of more than 3.5% over 2016-2024, driven by wide product use in televisions, computers, printers, computer accessories, and business machines as a result of its electrical insulating and corrosion & heat resisting properties.
Automotive applications are projected to register notable gains of 4% over the coming seven years. The ability of the product to reduce the vehicle weight and lower fuel emissions is expected to spur its demand. Strict legislations to reduce environmental pollution and enhance fuel efficiency in automobiles will further soar ABS market revenue. For instance, stringent rules in Europe and North America have forced the manufacturers to reduce the vehicle weight up to 440 kg, resulting in lowered carbon emissions along with an increase in fuel efficiency.
Appliances sector, which accounted for 31% of the ABS market revenue in 2015, is expected to grow considerably over the years to come. Rising end-user expenditure on household appliances along with the product’s ability to retain the appliance structure at both high and low temperatures will favorably influence the growth. The household appliances sector is projected to hit USD 11.9 billion by 2020 and will support ABS industry expansion.
ABS market share in the construction sector is projected to experience a lucrative growth over the coming years, driven by high product utilization in fittings, plastic sheets, and pipes. High spending on the construction activities due to rise in the disposable income of the consumers along with government support for improving the infrastructure facility will further steer the income.
Global ABS market share is highly consolidated, with top four participants sharing more than 60% of the overall business space in 2015. Chi Mei Corporation, Formosa Plastic Corporation, INEOS Styrolution, SABIC, LG Chemicals Limited, Kumho Petrochemical Company Limited, Asahi Kasei Corporation, Sinopec Limited, Styron, Elix Polymers, Entec Polymers LLC, Mitsui Chemicals, and Ravago Manufacturing Americas are few of the key players of ABS industry.
Author Name : Dhananjay Punekar