Bulk & Specialty Chemicals
Strong infrastructure spending vehicle weight reduction trends for better fuel performance to drive adhesives and sealants market growth
Adhesives and sealants market is projected to surpass USD 40 billion and USD 9.5 billion from 2015 to 2023, respectively. Global Market Insights Inc. has published a new study based report on Adhesives and Sealants industry. The report talks about the market in terms of definition, classification, estimations in terms of value and volume. It features the current and future forecasts as per the parallel industrial and financial outlook. Furthermore, it covers current events and trends of leading global companies including important developments, mergers and acquisitions, partnerships and agreements, investments and expansions, etc. It also discusses about the key aspects like drivers, impediments, opportunities and challenges that influence the market.
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The need of higher performance characteristics has lead the adhesives market gradually to shift from the conventional solvent based adhesives towards the application of superior -performance products including pressure sensitive and reactive hot melts adhesives. This gradual and steady shift in segment is furthering the overall demand growth of hot melt adhesives. Waterborne adhesive market size is estimated to dominate the technology segment in adhesives and sealants market during the forecast period.
Growth in automobile production, infrastructure development is likely to have a positive impact on the demand growth. Growing use of polymer and plastic in light weight automobiles to improve efficiency is anticipated to impel market size, with expected growth of 4.9% and 5.9% during the expected timeframe.
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The report also covers the in-depth analysis of the industry segmented on the basis of key regions. Advent of technology focused on sustainable and smart products is driving demand for sealants in various regions including Europe and North America attributed to various innovations including reduced cure time, superior performance benefits including resistance to gas and chemicals, improved seals, superior adhesion to a range of substrates, etc. Escalation in construction expenses in Indonesia, China and India is poised to boost demand. European silicone sealants market demand is forecast to observe a substantial growth in next few years.
The key participants in the adhesives and sealants industry are analyzed thoroughly in the report. It features competitive scenario of the industry with company profiles, trends, business strategies, financial metrics, etc. top players include Dow Chemical, Henkel, 3M, and HB Fuller. Sika AG, Avery Dennison, Ashland, Eastman Chemical, Uniseal, Bostik, and N.D Industries are a few other important players in the industry.
Author Name : Dhananjay Punekar
Increasing hygiene awareness among consumers coupled with growth in personal care & cosmetic products demand is expected to drive aerosol propellants market
Aerosol propellants market share is forecast to hit 13.73 million tons at an annual growth rate of 4.7% from year 2015 to 2022, according to a new study based market report by Global Market Insights. The report features segment, region and application based analysis with insights on market trends, restraints, challenges, opportunities and drivers expected to impact the market size.
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The market growth is attributed to rising awareness for household hygiene like disinfectants, insect repellents and air fresheners and personal care products like deodorant, dry shampoo, hairspray, sheen spray, shine spray, body spray, mousse, temporary hair color spray and shaving cream, etc. among consumers. Innovations and the advent of technology is like to further the growth. The demand in the personal care product segment is forecast to reach 6,700 million units at a growing CAGR of 2.9% during the predicted time frame.
Growth in infrastructure spending and automobile production in various countries has attributed to the growth in demand of paints in construction and automotive sectors and is likely to further industry growth. Health and environmental problems associated with propellants used in aerosol products are likely to restrain industry growth.
Industrial and automotive applications are likely to continue the growth trend with anticipated growing CAGR of above 4.5% during the Forecast period. Rising demand for sealants, adhesives, lubricants is expected to propel the industry growth. Hydrocarbon propellants expected to exhibit stable growth by 2022.
The report covers in-depth analysis of the aerosol propellants industry on the regional scale. The market is witnessing substantial growth and is largely driven by regions, including North America, Europe and Asia-Pacific. Growing demand for cosmetic products in Europe is projected to spur aerosol propellants market growth. Asia Pacific, the market is expected to witness a substantial growth with anticipated gains of 5.6% in the next seven years.
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The report covers the analysis of the key market players, profiles, competitive scenario and business strategies. Strict Government regulations regarding aerosol propellants are discouraging the new market participants owing to considerable amount of investment during the start-up phase. Key market players include Honeywell, Covestro, Harp International, Lapolla Industries, Aeropres Corporation, AkzoNobel, Lapoll and Avalos.
The key topics covered in the report are:
- Categorization of the global market on the basis of application, region and competitive scenario
- Volume and revenue estimations for the market over anticipated period
- Market Dynamics and Insights with market strengths and weakness, opportunities and threats
- Current and future Regional Trends
- Company profiles, Positioning, business strategies of Key Players
Author Name : Dhananjay Punekar
The increasing acceptance of plastic parts across the automotive sector is indeed one of the pivotal driving forces of automotive plastics market share. The types of automobiles notwithstanding – heavy-duty trucks, electric vehicles, or sports cars, it is now rather evident that the sole aim of automakers is to reduce vehicle weight to combat the issues related to emission targets and fuel economy. Novares Group is one of the many companies that has been rather proactive in this regard, and in the process has conveniently contributed to augmenting automotive plastics industry trends.
Novares basically uses advanced plastics injection technologies to design and develop engineered pragmatic parts with complex functions and provide integration expertise for modules. One of its best products is the 100% plastic heat exchanger that is adept at replacing conventional aluminum alloys and also integrating easily into engine parts. Novares’ instance thus validates that the leading giants in automotive plastics industry precisely aim to introduce sustainable, lightweight, aesthetic, and high-quality solutions for automotive applications.
The dedication of core specialty chemical companies toward the development of new technologies in this space is indeed appreciable. On that note, a couple of noteworthy initiatives undertaken by leading companies that will help reshape automotive plastics industry outlook over the forecast period are outlined below.
BASF | Focusing on expanding production facilities
A couple of years earlier, one of the leading players in automotive plastics market, BASF, commenced a new production facility in Korea to manufacture polyarylsulfone thermoplastic Ultrason that would potentially fulfill the product’s demand across the automotive, electronics, and aerospace sectors. This new establishment is expected to increase Ultrason’s capacity by 6,000 tons to 24,000 tons on an annual basis.
Incidentally though, BASF has already established a plant in Germany where it produces a wide range of plastic products used for manufacturing heat resistant and lightweight automotive parts. In fact, BASF’s polyarylsulfone thermoplastic Ultrason has accomplished quite some fame in automotive plastics market, pertaining to its superior temperature resistance strength.
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On the grounds of this very feature, Hyundai has also deployed the material for its headlight reflectors in its new auto model. Quite overtly, BASF’s decision to further expand its production facilities for Ultrason is likely to prove beneficial for augmenting the firm’s stance further in automotive plastics industry.
Exxon Mobil | Focusing on manufacturing lightweight plastics for numerous applications
In what may seem to be another pivotal instance augmenting automotive plastics market trends, Exxon Mobil is looking forward to expanding its petrochemical production, on the grounds of which the firm plans to work on a new plastics plant on the Gulf Coast. Apparently, the company would be producing polypropylene at this plant, the operations of which are scheduled to commence by 2021. The advanced material produced at this plant is expected to be used across the packaging, aerospace, and automotive sectors.
Exxon Mobil’s initiative also comes along the heels of the fact that lightweight plastics are significantly replacing steel components in automotive applications, that would boost the demand for polypropylene based parts. The main objective behind using such plastic materials in automotive applications is to maintain fuel efficiency and weight of the vehicles. As the company makes way for more polypropylene production, it is likely to encourage other players to follow suit, further augmenting automotive plastics market trends in the years to come.
Mitsui Chemicals Inc. | Focusing on setting up production units for alternatives
Nowadays, many automakers are substantially replacing vulcanized rubber and PVC with numerous alternatives, such as elastomers. Indeed, the lure of elastomers has increased to a massive extent in the automotive sector, leading to the establishment of numerous elastomer production units across myriad geographies. Automotive plastics market players have been particularly proactive in this regard – say for instance, Mitsui Chemicals Inc. recently set up a new production facility in North America for its Milastomer-branded thermoplastic olefin elastomer.
This unit, with a proposed capacity of 6,000 metric tons per year, has been speculated to fulfill the demand for Mitsui’s Milastomer products in the automotive sector in numerous applications such as joint fillers, grips, building material, and gaskets.
Analyzing the present scenario, it would seem as if capacity expansions are a go-to growth tactic adopted by automotive plastics market firms to sustain in this competitive business space. It is rather undeniable that the adoption of lightweight material would fuel the industry outlook in the future. With increased production capacity, it has been becoming more and more apparent that plastic products in the automotive domain are here to stay.
Aided by numerous investments by prominent players, in tandem with a supportive regulatory framework that stresses on the reduction of vehicle weight, automotive plastics industry size is likely to expand at an unprecedented pace over the years ahead.
Author Name : Saipriya Iyer