Secondary Alkane Sulfonate Market to cross the billion-dollar benchmark by 2024, APAC to drive the regional landscape
With global soaps and detergents industry experiencing a stable growth, secondary alkane sulfonate (SAS) market is forecast to chalk substantial gains in the coming seven years, subject to the chemicals’ extensive utilization in soaps and detergents business sphere. The surging demand can be credited to the products’ improved functionalities pertaining to water solubility, foaming characteristics, low additive solvency, and excellent wetting action. Increasing detergent demand across diversified platforms-textile, paper & pulp, hospitality, and laundry services is in way widening the growth opportunities for SAS market. Not only external domains, the demand is also witnessing a surge from domestic sector as well. Global household detergents market demand which is rising high is anticipated to play a pivotal role in secondary alkane sulfonate market growth path.
U.S. SAS Market Size, By Application, 2013 – 2024 (USD Million)
Asia Pacific has proved to be a strong contender in the overall Secondary Alkane Sulfonate Market space. Covering almost 40% of the overall industry share, APAC secondary alkane sulfonate market dominated the global business landscape in 2016. Comprising some of the most developing countries like India and China where consumers spending capacity and living standards are on a growing path, household detergents and personal care products observes increasing sales in these regions. This the prime ground that impels the regional SAS market. In addition to this, supportive initiations by the governments to expand the SAS manufacturing business will further complement the industry outlook.
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Over the years, food and beverage sector has been turning out to be a significant avenue influencing the overall industry share. With growing emphasis on hygiene and cleanliness, food and beverage industry has undergone a paradigm shift in the business model, leaving a subsequent impact on secondary alkane sulfonate market. This is due to the fact that SAS is extensively used in dish washing liquids across F&B sector. Along with this, several mandatory norms enforced by FDA regarding hygiene maintenance in food processing will open up new growth opportunities for secondary alkane sulfonate market.
Secondary alkane sulfonate market from industrial cleaners will also record an upswing in the coming years, with a projected CAGR of 4% over 2016-2024. With the globe treading on the path of rapid industrialization, industrial cleaners demand has observed a notable rise. Industry giants have been utilizing these cleaners to remove tints caused by oil and grease.
Personal care sector is also an important ground in the overall secondary alkane sulfonate market’s application spectrum. With a significant economic development, living standards of the consumers has also enhanced, the driving factor influencing the market augmentation from this domain. Some of its superb characteristics like emulsifying, foaming, and moisturizing nature have resulted in its extensive deployment in cosmetic products such as shampoos, shaving creams, soaps etc. As per estimates, global cosmetic industry collected a massive revenue of USD 220 billion in 2016, which parallelly have left an impact on SAS market as well.
Despite the potential threat associated with the product regarding environmental degradation and human health, SAS market is anticipated to exceed a revenue of USD 1.3 billion by 2024, with 5% CAGR over 2016-2024. Several manufacturers are also venturing into innovative products development that are environmentally viable. Some of the prominent SAS industry participants include Acar Chemicals, The WeylChem Group, Rajvin Chemicals Pvt Ltd, BIG SUN Chemical Corporation, and Clariant Corporation.
Author Name : Satarupa De
Bio-based acetic acid market to witness remarkable gains over 2017-2024, U.S. to drive the regional industry trends
The global acetic acid market is witnessing a major upswing with the growing utilization trend of this acid as a raw material to produce purified terephthalic acid (PTA) and vinyl acetate monomer (VAM). Acetic acid is used as an intermediate in formulating polyester, coatings, greases, and sealants which are widely used in textiles, automotive, packaging, paints & coatings, and electronic industries. The overall acetic acid market is certain to generate lucrative avenues, owing to its rising application scope in aforementioned industries. A report on Acetic Acid Market predicts the industry to register an annual growth rate of 8.7% over 2017-2024 and generate revenue over USD 16 billion by 2024.
Europe Acetic Acid Market size, by application, 2013 – 2024 (USD Million)
The expansion of the global chemical industry has almost doubled in terms of value over the last decade and was recorded around USD 5 trillion in 2013. This has strongly influenced the growth of acetic acid market as this acid finds its major application in the production of purified terephthalic acid, acetate esters, vinyl acetate monomer, and acetic anhydride. In terms of volume purified terephthalic acid contributed to more than 25% of the global acetic acid industry share in 2016. PTA is further used in the production of polyester films, polyester fiber, and polyethylene terephthalate (PET) resin. Vinyl acetate monomer is another major application segment which finds wide application in making of polymers and resins used in paints, films, adhesives, and textiles.
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North America, led by US acetic acid industry, recorded a consumption of over 1900 kilotons in 2016. The pharmaceutical industry holds a strong foot in North America with the presence of major manufacturers such as Johnson & Johnson, Novartis, Roche Holding AG, and Gilead Sciences. This factor has led to increasing demand for medical devices and saline bottles which are made from polyethylene terephthalate (PET. The regional acetic acid market will witness a profitable growth over the years ahead, owing to its profound usage as raw material in the production of PTA.
Acetic acid industry is quite consolidated and is likely to witness an increasingly growing trend of mergers and acquisitions. In 2011, the acetic acid product division of Sterling Chemicals was acquired by Eastman in order to support its growth strategy for the plasticizers and acetic acid product-line.
The manufacturers are aggressively involved in research and development activities to develop bio-based pathways for the complete replacement of fossil based raw materials. Bio-based acetic acid can be manufactured from fermenting sugar, ethanol, and corn starch. The product synthesis with bio-base material is gaining a wide acceptance among the consumers. Wacker Chemie, a well-known chemical company has recently established its bio-based acetic acid plant in Germany having an annual capacity of 500 tons. Bio-based acetic acid on grounds of addressing the hazardous environmental effects is poised to bring a paradigm shift in the global acetic acid industry landscape. Some of the major participants in this space include Saudi International Petrochemicals, DuPont, Celanese Corporation, Mitsubishi Chemical Holdings Corporation, Jiangsu Sopo (Group) Co., Ltd., Sinopec, Wacker Chemie, and British Petroleum (BP).
Author Name : Ojaswita Kutepatil
Dry animal feed enzymes market to experience lucrative development over 2017-2024, Asia Pacific to spur the regional growth
The growth graph of Animal Feed Enzymes Market is forecast to display an upward trend over the coming years, owing to the growing consumer preference for nutritious diet along with a substantial rise in the disposable incomes across emerging economies. According to the OECD (Organization for Economic Co-operation and Development), the average meat intake per individual across the globe is nearly 75 pounds in a year. This figure is an indication of the growing product popularity across the world. Global Market Insights, Inc., claims that animal feed enzymes industry revenue, which was estimated at USD 1.1 billion in 2016, is anticipated to surpass USD 2 billion by 2024.
U.S. Animal Feed Enzymes Market Size, By Livestock, 2016 & 2024 (Kilotons)
Having said that, Europe animal feed enzymes industry is expected to hit USD 860 million by 2024, growing at a rate of more than 6% over the period of 2017-2024. The heavy presence of key business players in the region along with a robust distribution network is projected to drive the industry landscape. There has also been a significant increase in livestock production and pork consumption across some of the nations in the continent, which are expected to further contribute towards the business revenue. Spain, Russia, and Germany are foreseen to be the major revenue drivers.
Asia Pacific animal feed enzymes market, which collected a revenue of more than USD 220 million in 2016, is predicted to grow at the highest rate of 7.5% over the coming timeline. Growing consciousness regarding livestock diseases coupled with the rapidly flourishing dairy sector is predicted to contribute considerably toward the regional share. High intake of meat across the regions such as China, Japan, and India are expected to push the product demand.
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Implementation of strict legislations regarding food safety along with the high presence of the livestock manufacturing firms is expected to beneficially impact U.S. animal feed enzymes industry landscape. The U.S. consumes a major chunk of fodder additives such as emulsifiers and vitamins, thereby influencing the regional market.
Carbohydrase, non-starch polysaccharides, phytase, and protease are the major animal feed enzyme products. Phytase animal feed enzymes industry, which contributed more than 40% of the overall market share in 2016, is slated to record a cumulative growth rate of nearly 6.5% over the years ahead. High phosphorous content in phytase enhances the digestion and reproductive capabilities of the livestock, leading to escalating demand for the product.
Protease animal feed enzymes industry, which produced a revenue of more than USD 150 million in 2015, is projected to witness a tremendous surge over the next few years. Escalating product need as a protein digesting molecule will fuel the industry growth.
Animal feed enzymes of high nutritional value have the ability to improve the livestock health, owing to which they are fed to ruminants, pigs, and fish. Aquaculture animal feed enzymes market is forecast to grow at an annual rate of 7.5% over the coming timeline. The ever-expanding fishing sector is expected to favorably influence the business space. Poultry, which produced a revenue of more than USD 500 million in 2016, is expected to make substantial contributions toward animal feed enzymes market share. Rising demand for eggs and meat owing to its high protein contents will steer the industry growth.
Ruminants are expected to generate a revenue of more than USD 450 million by 2024 and will significantly influence animal feed enzymes market growth over the coming years. Escalating product requirement for increasing the protein proportion to improve the animal health will spur the industry size. Swine animal feed enzymes industry is anticipated to register a CAGR of more than 6.5% over the span of the next few years, owing to the large intake of pork in the countries such as Indonesia, China, and Thailand.
Animal feed enzymes are available in liquid and dry forms. Exceptional ability to maintain the temperature at the time of fodder processing along with enhanced enzyme activity will spur dry animal feed enzymes market size in the future, which contributed over 75% towards the overall industry size in 2016.
Key participants of animal feed enzymes market include Novozymes, D.D. Williamson & Company Incorporation, Foodchem International Corporation, Flavorchem Corporation, Nutralliance Incorporation, Chr. Hansen A/S, Koninklijke DSM N.V., and BioExtract.
Author Name : Dhananjay Punekar
Asia Pacific superconducting materials market to witness massive gains over 2017-2024, Medical & healthcare applications to drive the regional growth
The digitization trend conquering the world has indeed created a lucrative roadmap for global Superconducting Materials Market. The growing demand from end-use industries for technologically advanced equipment to enhance the operational efficiency will significantly fuel the superconducting materials market share. The broad application scope of superconducting materials has initiated a plethora of research activities in the industry, driven by which the superconducting materials industry size from research and development sector is anticipated to register a CAGR of 17% over 2017-2024. Swelling demand for these materials in the transportation, telecommunication, medical, and the electronics sectors has also been commendable over the years. For instance, in the telecommunication sector, these materials have gained profound significance and have replaced the conventional filters, owing to the former’s efficacy in picking up signals and improving the antenna range.
U.S. Superconducting Materials Market Size, By End-User, 2013 – 2024 (USD Million)
A subsequent rise in research and development projects in Asia Pacific has prominently fueled the regional superconducting materials market demand. The rapidly developing transportation, electronics, and telecommunication sectors in the region have positively swayed the regional R&D trends. The soaring medical industry is another promising driver impacting the growth of regional market. Increasing health awareness and development of the healthcare facilities in APAC have led the regional medical industry to substantially contribute to the expansion of the superconducting materials market size. In 2016, Asia Pacific led the global industry landscape by generating USD 250 million in terms of revenue.
Medical industry is one of the leading application segments of the superconducting materials market, which generated revenue worth USD 640 million in 2016. Superconducting products are highly used in manufacturing of machineries which are used in MRI, Magnetoencephalography, and NMR (nuclear magnetic resonance) processes. Low temperature superconducting materials are prominently used for manufacturing of these machines which indeed depicts a significant demand in the medical industry. Furthermore, the increasing government investments for the development of medical and healthcare sectors have further contributed toward superconducting materials industry growth. As per the estimates, this application is projected to witness highest gains over the period of 2017-2024.
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The ever-growing electronic sector is another prominent driver, fueling the superconducting materials industry trends. For instance, superconductor materials based electric generators demonstrate an efficiency of more than 99%, which is way higher than the traditional copper-based electric generators. The strong growth of electronics sector coupled with the increasing consumer spending on the electronic gadgets are the notable drivers propelling superconducting materials industry share. Global superconducting materials market is estimated to witness a CAGR of 17% over the period of 2017-2024 with a target revenue of USD 2 billion by 2024, according to Global Market Insights, Inc.
Fast paced technological advancements coupled with the phenomenal developments in the electronics industry have provided a substantial impetus to North America superconducting materials market, slated to register a CAGR of 16% over 2017-2024. In addition, the well-established healthcare and medical infrastructure, from the technological perspective, has also prompted the use of advanced machinery and equipment in this region, thereby boosting the regional trends.
The industry is characterized by long-term contracts between the business participants and the end-use industries to address the specific manufacturing demands. The ecosystem is also witnessing heavy investments in R&D and strategic collaborations as a part of the major growth tactics adopted by the market players. American Superconductor, Hyper Tech Research, Inc., Hitachi, Siemens AG, and Superconductor Technologies, Inc. are few of the notable players in the superconducting materials industry space.
Author Name : Ojaswita Kutepatil
Asia Pacific automotive wheel market to garner a massive chunk of the global industry over 2017-2024, shifting trends toward lightweight vehicles to boost the product demand
The escalating development in global automobile sector is poised to generate commendable growth avenues for automotive wheel market in the ensuing years. Automobile producers have been adopting new manufacturing techniques to comply with emission control regulatory norms. Researchers have also been implementing novel product designs and improvised concepts to increase the fuel efficiency of vehicles, which in turn, will boost automotive wheel industry size. Another pivotal factor making a significant impact on the product demand is the rising spending capabilities of consumers. Of late, consumers have been prioritizing comfort, durability, and product design, which has undoubtedly provided a significant impetus to global automotive wheel industry size. As per the estimates, automotive wheel market was pegged at USD 80.8 billion in 2016 and is projected to exceed a valuation of USD 105 billion by 2024.
North America Automotive Wheel Market, By Material, 2013-2024, (Thousand Units)
Major automotive manufacturers across North America and Europe are treading toward the production of lightweight vehicles, owing to the increasing concerns over environmental pollution. Aluminum is one of many materials that is used to construct these light weight vehicles, and has also been gaining immense popularity of late, pertaining to its benefits such as low weight, improved design, and excellent performance. As per estimates, aluminum-based automotive wheel market will surpass a revenue collection of USD 55 billion by 2024.
Speaking of the geographical aspects, North America and Europe have been experiencing massive expansion of automotive wheel industry over the recent years. As per estimates, North America and Europe automotive wheel industry are projected to register a CAGR of 4.5% and 4% respectively over the coming seven years. One of the major factors that has significantly influenced the regional trends is the implementation of strict regulatory norms to reduce carbon emissions by the government entities. Elaborating further on the U.S., automotive wheel market trends, the country’s excessive deployment of vehicle safety policies, rising need for efficient braking systems, heavy investments in technological advancements, and large-scale R&D activities by the manufacturing giants are few of the major factors providing a remarkable push to the regional industry growth. Some of the renowned participants in the competitive hierarchy of automotive wheel market include Alcoa, Maxion wheels, Ronal Group, Borbet, UniGroup, magnetto wheels, Fondmetals, Enkei Wheels, and Trelleborg.
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Surging innovations in product design have generated lucrative opportunities for various OEMs to penetrate automotive wheel market. In fact, automotive wheel market from OEMs in 2016, registered sales of over 368,512.5 thousand units. Emergence of the V2V technology and significant changes in the IC engine will stimulate market size positively. OEMs have also benefitted from supportive manufacturing policies implemented by numerous Asian countries. On that note, Asia Pacific market is estimated to collect a significant revenue worth USD 53 billion by 2024, with China and India as the chief revenue pockets.
Rapid urbanization trends across the globe have changed the consumer standards of living, on account of which people have been giving preferences to personal cars. In fact, subject to this factor, passenger cars have made a humongous contribution toward the overall automotive wheel market size. As per the estimates, passenger cars vehicle segment is expected to account for more than 75% of the global automotive wheel market share by 2024 generating a notable valuation of USD 77 billion.
Apart from passenger cars, LCVs (light weight commercial vehicles) have also been gaining prominence among consumers. Research states that automotive wheel market from LCVs will register a significant growth rate over 2017 to 2024, owing to the growing urbanization and goods transportation. The EU has deployed emission norms such as Euro 6/VI and 6 for heavy duty and light duty vehicles respectively, which will subsequently influence this segment. Spain, Germany, Belgium, Austria, Netherlands, and Finland are the major contributors of the Europe regional automotive wheel industry growth, which was valued at USD 20 billion in 2016.
The business landscape is expected to be highly characterized with strategic collaborations between OEMs and suppliers coupled with plethora of innovations with regards to product design and manufacturing processes. In terms of market size, Global Market Insights, Inc. projects the worldwide automotive wheel market to surpass a volume of 643 million units by 2024.
Author Name : Sunil Hebbalkar
Tall Oil Fatty Acid Market to cross the billion-dollar benchmark by 2024, North America & Europe to witness major demand
Tall Oil Fatty Acid Market has generated a substantial momentum over the years on grounds of its wide application spectrum across end-use industries as a source of naturally derived fatty acid. Owing to its extensive usage as bio renewable feedstock, tall oil fatty acid has become a major by-product of pulp production. Tall crude oil generated from tall oil fatty acids are widely being used as additives in the fossil diesel, which has further created renewed avenues for tall oil fatty acid industry. A report compiled by Global Market Insights. Inc., foresees tall oil fatty acid market to register a CAGR of more than 4% over the period of 2017-2024 and seize a revenue of more than USD 1 billion by 2024.
U.S. Tall Oil Fatty Acid Market size, by end-user, 2013 – 2024 (USD Million)
Tall oil fatty acid is the by-product derived from the manufacturing of paper & pulp. Pine trees and other coniferous trees are the prime raw materials used for obtaining tall oil fatty acid. In a Kraft mill, tall oil is the third largest chemical by-product after lignin and hemicellulose.
Tall oil fatty acid is mainly used in the manufacturing of alkyd resins, dimer acid and fatty acid esters. Dimer is a significant intermediate chemical used as fuel additives in oilfields and lubricants. Alkyd resins is also a prominent segment holding a major share in the worldwide tall oil fatty acid industry. Finding extensive usage in the paint and coatings industry, the alkyd resins accounted for over one third of the overall industry share and is projected to grow at an annual rate of 4% over 2017-2024.
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The growing popularity of tall oil fatty acid as oilfield chemicals over tallow oil products derived from animals in the lubricants and fuel additive sectors has significantly favored the industry trends. As per the estimates, tall oil fatty acid industry size from lubricants and fuel additives is projected to record a CAGR of 4.5% over the period of 2017-2024, having collected revenue over USD 150 million in 2016. Accounting for more than a quarter of the overall tall oil fatty acid industry share in 2016, soap & detergents end-use industry is likely to witness a moderate growth over the coming years.
Constant research and development to develop new tall oil products have further scaled the demand for tall oil fatty acid industry. Furthermore, ever-increasing consignments of biodiesel have provided tall oil fatty acid industry players with major opportunities to expand their business, particularly in North America and Europe. Absence of any other substitute and easy availability of raw materials in these regions have favored the regional growth. Europe tall oil market is anticipated to contribute to more than one third of the total tall oil fatty acid market share by 2024. North America on the other hand accounted for more than 40% of tall oil fatty acid industry share in 2016 and is expected to show remarkable gains. Extensive demand for oleochemical and oilfield chemical in North America will lead to a profitable roadmap for the product landscape. As per the estimates, oleic acids market in this region will register a CAGR of 4.5% over 2017-2024.
Segezha Pulp and Paper Mill, Harima Chemicals, Georgia Pacific, Shaxian Lixin Resin Co. Ltd, Arizona Chemical Company, Kraton Corporation, BASF SE, Forchem, Pasand Speciality Chemical, and Eastman Chemical Company are some of the prominent names in global tall oil fatty acid market.
Author Name : Ojaswita Kutepatil
Liquid feed market revenue from molasses ingredients to cover nearly a quarter of the global share by 2024
Liquid feed market, as per research analysts, is likely to provide lucrative opportunities to major companies, owing to the increasing requirement of external nutrients for enhancing animal growth. Liquid feed products encompassing minerals, proteins, and vitamins are extensively used to increase the feed palatability of livestock and boost their metabolism. The cost effectiveness of the product is also a major factor that is likely to favor the growth of liquid feed industry share. Surging demand for high quality bi-products of meat, due to shifting focus of customers toward the consumption of protein-rich diet, will boost the product demand suitably.
U.S. Liquid Feed Market Size, By Ingredients, 2016 (USD Million)
CAFO, a leading government supported organization, has been focusing on the development of landless meat production facilities, a fact that is likely to lead to a surge in industrial meat production. Even in the U.S., most of the cattle producing firms have been using liquid and compound feed to enhance animal growth and meat quality. This is evident from the estimates – as per research, the U.S. cattle production industry size was worth USD 80 billion in 2016. The country also heavily fuels the demand for molasses, in fact, the U.S. liquid feed market from molasses is slated to cross USD 5.9 billion by 2024. Surging use of this product for dairy cattle and livestock pertaining to its economic benefits will fuel liquid feed industry size.
The overall liquid feed market from molasses will surpass a revenue collection of USD 25 billion by 2024. This ingredient, being one of the cheapest energy supplements, has garnered a widespread consumer base. Molasses, which consist of urea, rumen, salt protein meals, and phosphorous, is easily available in ample quantities, which will be one of the main driving forces for the growth of this segment. A Liquid Feed Market report by Global Market Insights, Inc., states that this industry will surpass a revenue collection of USD 90 billion by the end of 2024.
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Of late, poultry farming has been gaining prominence, due to the supportive government initiatives such as financial subsidies and other benefits. Since liquid feed enhances the hatching ability and lifespan of poultry, this product is being extensively used in poultry farms. Liquid feed market from poultry will generate a revenue of more than USD 15 billion by 2024, owing to the surging demand of the product for improving animal weight and optimizing egg production. Moreover, escalating per capita income of the individuals mainly across India, China, and Brazil will also fuel the product demand noticeably.
Asia Pacific liquid feed market, subject to escalating economic development, will generate significant revenue by 2024 with a CAGR estimation of 5% over the coming seven years. China, India, and Japan will contribute significantly toward the regional growth.
European consumers have been depicting preferences toward beef consumption lately, on account of which meat suppliers have been adopting intensive farming systems. On these grounds, Europe liquid feed industry will record an annual growth rate of more than 3.5% over the years ahead. Growing consumption of dairy and meat products will also propel the industry growth.
Liquid feed market from ruminants will collect notable revenue with a CAGR of above 4% over 2017-2024, owing to the increasing use of the product due to its cost effectiveness and capability to improve the health of the animal.
The notable participants in liquid feed market are BASF SE, Archer Daniels Midland, Grain Corp, Westway Feed products, Cargill, Ridley Corporation, Land O’ Lakes, Dallas Keith Ltd., and Quality Feeds Limited.
Author Name : Sunil Hebbalkar