Polymers and Advanced Materials
Rise in baby healthcare issues and disposable incomes drives Styrenic block copolymer (SBC) market growth
Styrenic Block Copolymer(SBC) Market size was more than $1.96 million tons for 2015 and is predicted to register CAGR of more than 4.52% by end of forecast timeframe. Baby diapers industry size is predicted to cross $64.2 billion by end of 2023 from $39 billion for 2014, with projected profit at 6% by end of forecast timeframe. Rising baby healthcare issues along with rise in purchasing capacity are key aspects driving industry growth.
These are primarily utilized to produce tabs, waistbands, leg elastics ,side panels and landing zone in diapers. Enhanced comfort and best fit size of diaper due to elastomeric substances led producers to accept compounds like SEPS, SBS, SEBS, SEEPS and SIS which promoted demand for the product. Styrenic block copolymer (SBC)compounds contribute about 40% to 80% by mass of total baby diapers.
Latin America and APAC Styrenic block copolymer (SBC) market share can grow substantially in terms of baby diaper use. Rise in population along with increase in disposable incomes is predicted to influence the regional industry growth.
Approvals from U.S. Pharmacopoeia and FDA(Food & Drug Administration of U.S.) to make use of the compound in medical sector due to less dependence on PVC(Polyvinyl chloride) is predicted to fuel Styrenic block copolymer demand.
High resistance, transparency, design versatility, exceptional thermal stability, easy sterilization by gamma irradiation and mutagenic potential are main features promoting industry growth. Key raw substances, natural gas and crude oil are involved in production of SBC(Styrenic block copolymer). Varying raw material costs due to political instability can adversely impact industry trend.
View a summary of the “Styrenic Block Copolymer (SBC) Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/styrenic-block-copolymer-sbc-market
SBS product segment dominated the industry in terms of size and produced greater than $4.51 billion revenue for 2015. Rapid baby diaper segment growth and fast expansion of footwear section due to rising customer affordability are predicted to influence the demand of product.
Hydrogenated product segment is predicted to acquire greater than 5.6% of growth in terms of size by end of 2023. Growing trend to obtain sustainable sealants & adhesives in construction sector is predicted to nurture the growth of the segment.
The industry is segmented into various applications like footwear application and roofing & paving application.
Footwear application segment is predicted to register greater than 4% of CAGR by end of 2023. High resilience strength and material sustainability are few of the properties promoting the demand for this segment. Shift in purchasing trend and tendency to adapt footwear for different reasons is another key aspect driving the product demand.
Roofing & paving application segment was evaluated at more than $1.96 billion for 2015. Construction sector growth along with increasing customer choice for personalized home interiors are key driving aspects favorably influencing the segment.
APAC dominated Styrenic block copolymer market and was evaluated at more than $2.66 billion for 2015. China contributed maximum regional industry share during the year.
Fast industrialization along with growth of production sector due to easy availability of skilled labor are main factors driving demand for compound. China is one of the key footwear producing nations succeeded by India. Growing SBC use in footwear is predicted to favorably affect industry growth in the region.
U.S. led the North American industry in terms of size. It is predicted to register more than 4.23% CAGR during forecast timeline. Approval given by FDA to use SBC in production of medical devices is key driving aspect stimulating product demand.
Large scale investment in building & construction segment in UAE and Saudi Arabia is predicted to boost the MEA(Middle East & Africa)Styrenic block copolymer market expansion. MEA is predicted to register greater than 4.81% CAGR during forecast timeframe.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/483
Key industry players profiled in the report include Kraton Performance Polymers, En Chuan, Zeon Corporation, Asahi Kasei, Styrolution, Dynasol Elastomers, LCY Chemical Corporation,, LG Chemicals, Chi Mei Corporation, BASF, Versalis, TSRC, Momentive Specialty Chemicals, Chevron Phillips, JSR Corporation, Sinopec and Kumho Petrochemicals.
Escalating workplace safety awareness to drive PPE market trends, advent of smart personal protective equipment to expedite the industry growth over 2017-2024
A survey of EHS directors representing 31 countries and 25 industries in 2018 indicated that personal protective equipment market, which was valued at USD 40 billion in 2016, will continue to register an expansive growth over 2017-2024. Of the 382 EHS directors who participated in the survey, 21% have been reported to say that they expect to increase environmental, health and safety professionals’ budgets by double digits and 48% of EHS directors said that even if not increased, the budget will remain the same as in 2017. It would prudent to state therefore, that safety and incident management are the leading concerns for EHS software expenditure plans. The personal protective equipment market is thus poised to garner major profits as smart and wearable personal protective equipment and incident management mobile apps come to the fore as the notable emerging technologies of interest in 2018.
U.S. PPE Market Size, By Application, 2016 & 2024, (USD Million)
According to the Occupational Safety and Health Administration (OSHA), businesses spend approximately USD 170 billion per year due to illnesses and injuries sustained by employees and this expenditure comes directly out of the company’s profits. OSHA estimates that companies can reduce injury and related costs by 20% to 40% by establishing better safety and health management systems, costs that can make or break a company. OSHA cites that with better safety and healthcare infrastructure a Fortune Five company increased productivity by 13%. Personal protective equipment market has also witnessed massive investments as more businesses are coming to realize that better workplaces necessarily mean more productive employees, higher-quality products and enhanced services.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/373
With the increasing popularity of wearable devices such as fitness trackers and smartwatches that contain sensors to monitor location, heart rate, movement, and sleep quality, the integration of such technology into personal protective equipment and work site clothing is a natural progression to enable enhanced on-site safety management. It is evident that wearable personal protective equipment market would be the recipient of major investments. The insurance company AIG for example signed a partnership with wearable personal protective equipment technology startup Human Condition Safety in 2016. Human Condition Safety uses the cloud computing and artificial intelligence technologies of the company to monitor health and key safety indicators. Human Condition Safety smart wearable personal protective equipment is designed to detect when a worker is about to lose balance or is carrying too much weight. It also helps site managers to keep track of employee locations and if they are in unsafe conditions.
Daqri, another U.S.-based personal protective equipment producing startup also became a recognized entity in the personal protective equipment industry when it manufactured an augmented reality smart helmet that uses technology similar to Google Glass and integrates with a smart watch. The Daqri hard helmet is designed to record videos, recognize parts and access virtual machinery service manuals leading experts to believe that personal protective equipment technology will soon revolutionize safety in workplace. According to industry experts, personal protective equipment market growth can be somewhat impeded by the lack of quantifiable data that present returns on investment on such devices. However, in spite of such a challenge increased demand for product diversity will drive investments, with the greatest uptake in mining, automotive, oil and gas, fire safety, manufacturing and emergency services projected to drive personal protective equipment industry growth.
Hazardous work environments have made the growth of personal protective equipment industry inevitable with regulatory bodies not only increasing stringency regarding the use of safe work practices but also increasing the budget for bringing safety into the workplace. As per statistics presented by the U.S. Bureau of Labor Statistics, private industry employers reported nearly 2.9 million non-fatal injuries and illnesses due to reasons ranging from actual equipment to environmental hazards. For instance, industrial noise, one of the most overlooked areas of occupational hazard, affects nearly 22 million U.S. workers yearly. As governments and personal protective equipment manufacturers are looking for ways to enhance worker health and safety without major increase in production costs, the personal protective equipment industry is projected to register commendable growth over 2017-2024.
Author Name : Paroma Bhattacharya
As per a new report by Global Market Insights Inc., Silicone Elastomers Market size will reach 1,537 kilo tons by 2023. The key factors to drive the growth are rapid urbanization and industrialization, rising population and increased disposable income. Increasing R&D for product development is likely to open new growth avenues in the market. The report covers a comprehensive analysis of the market with a focus on key factors that influence the market including drivers, impediments, challenges and opportunities. Furthermore, it lists the key developments, expansions, new product launch, R&D, agreements & collaboration of the prominent global companies.
View a summary of the “Silicone Elastomers Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/silicone-elastomers-market
Silicone elastomer market demand, regarding volume and value, portrays the present and future forecasts by the parallel economic and industry outlook. This analysis covers various feature properties including transparent, lightweight, high resistance and thermal stability which make it a preferred option in a wide range of applications like automotive, electrical & electronics and health care. Construction and infrastructure applications will continue its dominance, with probable growth of 5.3% over the estimated time frame. Electrical and electronic applications volume share is anticipated to witness significant growth and surpass 13.5% shortly. The automotive silicone segment is poised to foresee growth over 24% at a growing CAGR of 5.2% in the next few years.
Global silicone elastomers market growth is significant and is projected to continue in the next few years owing to the highly growing APAC regions. APAC region is a key hub in silicone elastomers market and can witness good growth over the estimated period. The increased investments in construction together with encouraging prospects will play a pivotal role for the expansion of regional automotive industry. Furthermore, government initiatives with a focus on infrastructure development are likely to prove favorable with promising growth opportunities.
The report comprises of detailed overview and predictive analysis of the market. The industry gets segmented by product, application, region and competitive scenario. Each of these segments is analyzed with a broad perspective to provide a comprehensive analysis of the market.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/361
With several end-user industries using silicone rubbers, research and development is a crucial part of the market. High investments by the end product manufacturers, manufacturing companies, and associations for technology advancement and modifications of silicone elastomers applications to meet the new demands from different sorts of applications and substitute natural rubber and other rubbers are likely to open new avenues in the market.
The key players in this market are Dow Corning Corporation, Momentive, Wacker Chemie, and Shin-Etsu.
Increasing construction spending coupled with growing importance to protect foundations, and slabs is expected to drive waterproofing membranes market growth
In an era where ecological competence has gained a pivotal importance in construction sphere, waterproofing membranes market is set to emerge as one of the most opportunistic business spheres of polymers and advanced materials industry. Pertaining to the growing concerns over environmental degradation and resource limitation, green roofs of late, are claimed to be the most widespread preference in the construction community. Needless to say, waterproofing membranes are absolutely critical for establishing these types of green roofs. While some are intrinsically impervious, most of these roofs require some kind of treatment to prohibit any kind of water leakage into the building.
Germany waterproofing membranes market size, by end-use, 2016 & 2024 (USD Million)
Indeed, the inevitable requirement of maintaining building sustainability has provided a significant impetus to global waterproofing membranes market trends. However, it is prudent to mention that in spite of the growing number of policies implemented by emerging economies with regards to building energy performance, the average energy consumption per person in the building sector practically remained unchanged over the past few years. As a matter of fact, global building related carbon dioxide emission has continued to rise by 1% since 2010. Amidst this slightly distressing scenario, waterproofing membranes industry is sending out waves of anticipation, on grounds of its contribution in reducing the environmental concerns. IEA’s latest report claims that low carbon energy efficient building technologies can ultimately lead to improvement in global energy utilization per capita by at least 10% by 2025.
Regionally, China has emerged to be one of the profitable growth avenues for waterproof membrane market, primarily on account of the increasing infrastructural development and industrialization in the country. The growing infrastructural activities, in consequence, has tremendously upscaled the energy consumption in the China’s building sector, which by extension has generated a massive demand for waterproofing membranes in the region. Statistics indicate that energy consumption of buildings in China accounts for nearly 15% to 16% of the total energy consumption of the nation. To speak of the product landscape, bitumen membranes, as it is observed, have been gaining a sheer popularity in China market for roofing applications, subject to its excellent adhesion properties and favorable regional governmental norms. As per estimates, China bitumen waterproofing membranes industry share from roofing applications is set to exceed USD 250 million by 2024.
Get a Sample Copy of this Report@ https://www.gminsights.com/request-sample/detail/173
Companies partaking in this moderately consolidated business space are deemed to witness lucrative opportunities over the ensuing years, given the rising preference of green buildings both across developing as well as developed nations. In the face of intense share battle, waterproofing membranes market players have been increasingly joining forces with one another to come up with innovative solutions, in a bid to substantiate their position. Recently for instance, BASF, one of the leading waterproofing membranes market giants, collaborated with SoloPower Systems, to launch a multi-layered seamless roofing system that would act as an interface between the environment and building. Reportedly, this highly enhanced multi-layered water proofing membrane holds considerable opportunities for cost effective energy saving in buildings. This breakthrough system, as per reliable sources is comparatively 60% lighter than the conventional roofs, subject to its unique architecture. Backed by a slew of advantages with regards to energy efficiency and environmental viability, this groundbreaking roofing system plausibly would bring a disruption in the waterproofing membranes industry.
While speaking of the market’s potential opportunities, it is also imperative to mention that the business space is subject to a string of constraints, fluctuating price trends of raw materials being at the pinnacle. The primary feedstocks for manufacturing these waterproofing membranes are bitumen and polypropylene. As these materials are mostly petroleum based, volatile crude oil price trends leave a somewhat deterring impact on waterproofing membranes industry outlook, in terms of overall production cost. Nonetheless, with regional players making significant investments in product differentiation, both in terms of quality and cost, the industry is forecast to witness appreciable growth over the ensuing years. In terms of commercialization, the overall waterproofing membranes market would exceed a valuation of USD 10.5 billion by 2024.
Author Name : Satarupa De
Increasing construction spending in emerging economies of Asia Pacific coupled with rapid industrialization is expected to drive polyurea market
Polyurea market size is forecast to register surge at a CAGR of 4.8% and reach 249.6 kilo tons from 2015 to 2022, according to the new research by Global Market Insights. The report provides 7 year market projections with important analytical and statistical information on the global developments, technology shifts, industry structure, applications, market shares, key market players, industry dynamics, and critical market trends.
View a summary of the “Polyurea Market Size, Industry Analysis Report”
The report provides:
- An in-depth analysis of the global polyurea market.
- Analysis of global market trends, with data from15, forecasts for 2016, and projections of CAGRs through 2022.
- Detailed analysis of applications.
- Exploring the latest trends and new technological advancements in the market.
- Profiles of key market participants.
The polymer is obtained by the reaction of isocyanate compounds and synthetic resin polymer, through the technique of step-growth polymerization. It has distinctive properties like pigment compatibility, fast set-time, thermal stability, highly crack resistant, and superior water sensitivity. It is processed to manufacture adhesives, lining systems, sealants and coatings and is widely used in numerous applications including construction, transportation, and industrial etc.
Finer advantages of this polymer like excellent elongation, long lasting, etc. over other substitutes like polyurethane and epoxy is anticipated to propel the industry. Growing investments in infrastructure expenditure are projected to boost polyurea market growth during the anticipated time frame. Furthermore, the favorable market price trend is poised to open avenues for niche applications and innovation. Increasing environmental safety measures, strict regulations for environmental pollution is likely to impel market trend in the near future.
Aromatic market size is anticipated to register highest gains by 2022. Aliphatic raw materials are likely to witness moderate growth at a projected CAGR of over 4% during the estimated time frame. Lining product is poised to observe growth at a projected CAGR of over 4% during the predicted period.
Get a Free Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/163
The report covers the in-depth analysis of the market on a regional scale. Asia Pacific polyurea market is likely to continue its dominance and register highest gains over the next few years owing to the proliferation of protective coatings in industrial and automotive applications especially in China and India. The U.S. market share is anticipated to exhibit moderate growth at a projected CAGR of over 4% by 2022.
The report features competitive landscape, business strategies and key trends of the market with profiles of key participants in global polyurea industry. Key players in the industry include Huntsman Corporation, PPG Industries, Bayer MaterialScience (Covestro), Specialty Products Inc., and BASF.
Author Name : Dhananjay Punekar
Due to versatile characteristics of gold nanoparticles, they have an extended range of application in pharmaceuticals, electronics, chemical catalysis, dentistry, etc. The gold nanoparticles market is projected to gain momentum owing to growing product application in medical and therapeutic segment as gold nanoparticles are widely used to detect biomarkers in the diagnosis of infectious agents, cancer and heart diseases.
due to the unique optoelectronic properties of colloidal gold nanoparticles, they have been researched and utilized in high technology applications such as sensory probes, organic photovoltaics, therapeutic agents, electronic conductors and catalysis and drug delivery in biological & medical applications.
In 2007, Analytical Chemistry reported that scientists from Purdue University successfully utilized gold nanoparticles to detect breast cancer. Furthermore, it was discovered that the nanoparticles could detect toxins as well as pathogens. Researchers experimented by coating gold particles with DNA and injected them into plant embryos to ensure genetic material entry in the cells to transform them and the process resulted in enhanced plant plastids.
Growing medical application along with extensive research on gold nanoparticles is estimated to boost global gold nanoparticles market over 2015-2022. Following is a list of factors influencing gold nanoparticles market:
Rising R&D activities to fuel gold nanoparticles market
In the current scenario, gold nanoparticle research is one of the fastest-growing scientific fields. This growing focus on research and development regarding gold nanoparticles has yielded some incredible results that are pushing boundaries of innovation. For instance, researchers at the Ecole Polytechnique Federale de Lausanne in Switzerland have engineered gold nanoparticles that can attract viruses and destroy them. When these specific kind of gold nanoparticles are injected into the body, they mimic human cells and trick the viruses into binding with them to infect them. After the binding process, the resulting pressure deforms the viruses, rendering them harmless.
The potential of gold nanoparticles for broad-spectrum antiviral drugs is huge, as they allow doctors to use a single drug to cure all deadly viruses for which no effective treatment exists, such as dengue, HIV and Ebola. Moreover, they also help curb the perturbing rise of antimicrobial resistance resulting from over-use of antibiotics.
Get a Free Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/358
Growing application in cancer treatment to garner considerable proceeds in gold nanoparticles market
Gold nano particles are being rapidly utilized in cancer therapy. These particles are small and can penetrate widely throughout the body, preferentially accumulating at tumor sites due to the enhanced permeability and retention effect. Moreover, they can bind many drugs and proteins and can be actively targeted towards cancer cells.
Gold nanoparticles are being utilized to treat various types of cancer. Recently, it has been utilized for the treatment of prostate cancer in men. As per estimates, prostate is the most common type of cancer prevalent in American men; 1 out of 9 men are diagnosed with prostate cancer. The American Cancer Society estimates 29,430 men died from the disease in 2018 alone. The side effects of current prostate cancer treatments can be extremely traumatic. Utilization of gold nanoparticles in treatment of prostate cancer holds the potential to eliminate those life-altering effects. The potential that gold nanoparticles hold in prostate cancer treatment is expected to boost gold nanoparticles market prospects in the coming years.
Extensive usage in electronics industry to transform gold nanoparticles market
Gold nanoparticles are used as conductors from printable inks to electronic chips. As the electronics systems are getting smaller with passage of time, usage of nanoparticles is proliferating in chip design segment. Nanoscale gold nanoparticles are gaining popularity and being extensively used to connect conductors, resistors and other elements of an electronic chip.
The global market for consumer electronics ended the year 2018 with a 6% increase in sale. Expanding consumer electronics industry, growing demand for advanced electronics gadgets across the globe coupled with replacement of existing electronic appliances due to technologically advanced versions of the product will fuel gold nanoparticles market.
Growing popularity in cosmetology to positively impact gold nanoparticles market
Skin researchers have long been focusing on the development of skin anti-aging and whitening products. The cosmetics industry is among the first to benefit from the advantages of nanotechnology, through the adoption of engineered gold nanoparticles to enhance the performance of active ingredients in cosmetics products such as antiaging creams, moisturizers and sunscreens.
Gold nanoparticles have high anti-fungal and anti-bacterial properties and are gaining popularity in cosmetic industry. They can effectively and gradually scavenge the radical cat-ions and induce moisture retention properties. Gold nanoparticles are also capable of reducing melanin content, therefore resulting in skin whitening.
Global gold nanoparticles market is estimated to witness significant growth owing to advancements and developments in the field of nano-sciences and nanotechnology. The novel findings through R&D regarding gold nanoparticles have shown that the scope of its product application is enormous and is expanding to various industry verticals including electronics, pharmaceutical, cosmetology, etc. As per Global Market Insights Inc., global gold nanoparticles market is estimated to worth $8 billion by 2022.
Author Name : Aakriti Kakkar
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.
View a summary of the “Adhesives and Sealants Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/adhesives-and-sealants-market-report
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.
Get a Free Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/372
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
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.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/110
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