Plant milk market revenue to surpass the 20-billion-dollar mark by 2024, growing health consciousness among the masses to fuel the product demand

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In recent times, the popularity of non-dairy milk among health-conscious people has been on a rise, which is likely to influence plant milk market growth significantly. Apparently, plant-based milks comprise much lesser sugar as compared to livestock milk, and in addition, are endowed with extra fiber, extra protein, and an additional amount of omega 3 fatty acids. Cow’s milk, the most common livestock milk consumed, contains a large amount of lactose, which though healthy, may lead to major digestive issues. In consequence, regular cow milk consumers have lately been giving preference to lactose-free milk, which will considerably boost plant milk industry share. The most vital factor associated with the increased popularity of plant-based milk is its production process, that is free of animal cruelty. Moreover, plants are less expensive to grow – plants such as hemp, flex, cashew, almond, and soy used to produce milk require less manpower, less maintenance, water, and space. Besides all those benefits, non-dairy milks provide hormones and antibiotic-free products, which has been helping health-conscious people maintain their diet preferences. The changing consumer lifestyles owing to the growing health concerns among people about diabetes and obesity are thus slated to enhance plant milk market size.

U.S. Plant Milk Market, By Source, 2016 & 2024 (Million Litres)
U.S. Plant Milk Market, By Source, 2016 & 2024 (Million Litres)

 

Considering the future scope of non-dairy milk, the renowned giants in plant milk industry are adopting growth strategies such as JVs and M&As. For instance, in 2016, the France-based company, Danone, acquired the U.S. based soy milk producer WhiteWave Foods for USD 10 billion. With this acquisition, Danone has been able to enhance its growth profile and reinforce flexibility across North America. In addition, it has improved its product portfolio through the strategic acquisitions of WhiteWave driven brands such as Wallaby Organic, Horizon Organic, and Silk, while consolidating its stance in North America plant milk industry. As per statistics, in 2016, North America covered around 25% of the global plant milk market share. Apart from North America, this acquisition has also implicated Europe plant milk industry share, pertaining to the post-merger approval of the European Commission for the acquisition of U.S. based foods giant, WhiteWave.

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The ample availability of raw material required for making non-dairy milk is likely to stimulate plant milk market trends over the years ahead. The benefits of soy, rice, and almond based milk affecting plant milk industry share are described below:

Soy milk: It is one of the most preferred milks for toddlers, given that they usually are incapable of digesting milk sugar. Soy milk is also an excellent source of fiber, protein, minerals, fatty acid, and vitamins, on the grounds of which it is being widely consumed. This in consequence, would have a considerable impact on soy-based plant milk market size, slated to generate more than USD 8 billion by the end of 2024.

Almond milk: Almond milk is rich in omega 3 fatty acids, minerals, and vitamin E, has low sodium content, and 50% more calcium content than dairy milk. The low-calorie content may help obese people to reduce the cholesterol – thus the growing popularity of almond milk among heart-healthy people is slated to propel plant milk market share over the years ahead.

Currently, plant-based milks are emerging as viable alternatives for livestock milk across developing countries. In order to overcome the insufficient supply of animal milk, many of the players in plant milk market are investing heavily in food product developments. As technology intervention and the ongoing research efforts will ultimately help improve the quality of plant-based milk, its demand would observe a commendable rise globally, which would eventually impact plant milk market size, slated to cross USD 21 billion by 2024.

Author Name :  Sunil Hebbalkar 

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Medical bed market to collect substantial valuation pertaining to the escalating healthcare infrastructure development over 2017-2024

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The rising number of investments in healthcare facilities across the globe is likely to massively impel medical bed market. In order to provide advanced medical care to the patients, many regional and state governments are investing heavily in healthcare infrastructure development. For instance, the Australian state government has provided a funding of USD 470 million to construct a 195-bed Victorian Heart Hospital, which could be one of world’s leading healthcare facility centers for researchers and patients. Furthermore, the Medical University of South Carolina (MUSC) has approved the construction of a new 128-bed hospital project worth USD 325 million in the tri-county region. Through this development, the government plans to fulfill the increasing healthcare demands by providing high quality and consistent care to patients, thereby enhancing medical bed market share. Essentially, the significant involvement of private and government organizations in healthcare infrastructure development and capacity expansion will heavily augment medical bed industry share. Speaking of one more rather pivotal instance, the renowned healthcare service provider, Trident Health, currently is involved in six ongoing expansion projects. In fact, it has invested USD 75 million in the Summerville Medical Center and Trident Medical Center to expand its medical care facilities further. The aforementioned instances vividly demonstrate that the ongoing healthcare infrastructure expansion projects will stimulate medical bed market trends over the years ahead.

Germany Medical Bed Market, By Product, 2013 – 2024 (USD Million)
Germany Medical Bed Market, By Product, 2013 – 2024 (USD Million)

Apart from facility expansions, many of the giants in medical bed industry have been involving themselves in strategic mergers and acquisitions to capture more business space. For instance, Rowsley has recently signed a deal to acquire the Singapore based healthcare service provider, Thomson Medical for S$1.6 bn. Furthermore, it will also buy 70.36% shares in the Malaysian firm TMC Life Sciences. TMC Life Sciences apparently plans to establish the Tropicana Medical Center across Kota Damansara with three times more beds than its current capacity. In addition to this, TMCLS is looking forward to developing Thomson Iskandar Medical Hub comprising a 500-bed tertiary hospital in Johor Bahru. The precedence demonstrates the growing requirement of healthcare services along with changing demographics across South-East Asian region that would suitably boost medical bed market outlook.

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The increasing investment in infrastructure development in sync with the rising demand for medical beds across several states of America, in turn, is shedding a positive light on the regional medical bed industry share. For instance, the Ohio State University based in Columbus is planning to build new ambulatory center and hospital tower at Wexner Medical Center with an investment of more than USD 2 billion. The proposed new hospital tower will comprise of 840 beds with critical care units, emergency service units, and diagnosis & treatment service areas. Depending on the board’s approval, the hospital is expected to commence its operations by 2025, and contribute considerably toward the regional medical bed market development. Further on, the homeless shelter across the Eastern region of Iowa has also been demanding beds on a large scale, owing to the surging prevalence of chronic mental health problems in the region. The rising number of hospital admissions for effective diagnosis of chronic diseases including diabetes, respiratory disorders, cardiovascular diseases, and cancer is slated to propel medical bed industry size over the coming years.

Many of the developed and emerging economies have been taking initiatives to establish advanced healthcare facilities to provide most effective, economic, and safe care service to patients, which would contribute toward driving the revenue scale of medical bed market. For instance, recently, the health department of the Vietnam government unveiled the construction of a 550-bed general hospital across Sơn La province. Furthermore, three new city hospitals have been constructed across Qatar, deploying around 500 hospital beds. Given the ongoing trends of healthcare infrastructure development, it has been estimated that the overall medical bed market size will be pegged at USD 4 billion by the end of 2024.

Author Name :Sunil Hebbalkar

Borehole equipment market to be majorly influenced by the ongoing advancements in drilling technology, Africa to emerge as a viable revenue contributor over 2017-2024

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The profitability landscape of borehole equipment market has been witnessing a massive turnaround of sorts in the recent years, on account of the rising number of mining operations, heavy infrastructural development, and the increased demand for water in drought-ridden areas. In this regard, companies partaking in borehole equipment industry share have been striving to brainstorm rather innovative products and techniques for borehole drilling. For instance, merely a couple of years earlier, Boart Longyear, a rather prominent player in borehole equipment market, was involved in a project that included installing a ventilation shaft for a longwall coal mine in Wyoming. The company deployed a dual-tube flooded reverse-circulation drilling technique that was far advanced than the ones used for a traditional raised bore rig, as it pumped air via the outer tube, forcing mud upward through the inner tube, thereby preventing porous rock from being plugged for the borehole. The same year witnessed Boart launching the game-changing TruProbe drilling system that enables the deployment of gamma, geophysical, survey sensors inside drill strings for identifying any traces of previous metals and minerals at an affordable cost, majorly impacting the product landscape of borehole equipment industry. In retrospect, it would be apt to state that Boart Longyear has indeed established itself as one of leading participants in borehole equipment market, setting ambitious standards for its fellow rivals and new entrants.

U.S. Borehole Equipment Market, By Product, 2016 & 2024 (USD Million)
U.S. Borehole Equipment Market, By Product, 2016 & 2024 (USD Million)

The emerging economies of Africa: The upcoming hotbeds for borehole equipment market

While the developed and developing economies across the globe have been rather proactive in global borehole equipment industry, in recent times, companies have been tapping the unexplored suburbs of the African continent, that seem to have depicted quite a perceptible potential as far as drilling operations and deploying the apt equipment for the same are concerned. Countries such as Zambia, South Africa, and the Republic of The Gambia, have lately emerged as profitable avenues for borehole equipment market, subject to the stream of favorable initiatives that are being undertaken by regional and international governmental agencies in order to combat the water shortage in these areas. A succinct gist of a couple of these productive initiatives that have transformed borehole equipment market outlook has been enumerated below:

  • The CEO of the Vision Development Foundation recently approved a borehole project in Kerr Demba Holley, Upper Niumi, Gambia, for GMD 500,000, that would be powered with solar and storage tanks to deal with the water supply shortage in the district.

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  • In a bid to deal with the severe impact of the droughts in KwaZulu-Natal, a funding of nearly ZAR 500,000 has been provided to drill boreholes in communities such as Verulam, Wyebank, Umbumbulu, and Ladysmith. To combat the water scarcity in the region and aid the expansive regional mining industry, companies and governmental organizations plan to make sufficiently huge investments in South Africa, that would eventually impel the regional borehole equipment market share.
  • The National Savings and Credit Bank (NatSave) and the Musika Development Initiative struck a deal in the second quarter of 2017 for implementing a 12-month-long project in the Kalomo district of Zambia, worth ZMW 2 million. The program would apparently entail the sinking of 20 solar-powered boreholes for increasing the productivity of small-scale farmers and improving their access to irrigation solutions in the area. The memorandum of understanding (MoU) for this pilot project is certain to gain ground in the regional borehole equipment market, encouraging other players to follow suit.

With extensive developments prevalent in the construction and infrastructure development verticals, it goes without saying that the humongous demand for advanced infrastructural facilities, massive requirement for residential and commercial spaces, in tandem with the regulations enforced with respect to strong building foundations and soil quality would have a profound impact on borehole equipment market size. Furthermore, these products find colossal applications in various grades of mining operations, thus opening up a plethora of new vistas for borehole equipment industry, given the vast expanse of mining exploration activities and the regulations that mandate mine operators to deploy highly advanced machinery for drilling. By and large, it would be apt to state that borehole equipment market trends would undergo dynamic transformations in the ensuing years, contingent on the changing demands of the expansive construction and mining sectors.

Author NameSaipriya Iyer

Europe feed Mycotoxin Binders Market to witness commendable progressions over 2017-2024, primarily driven by a favorable regulatory framework

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Feed mycotoxin binders market, over the recent years, has been exhibiting an encouraging growth potential owing to the worldwide rise in consumption of meat products coupled with the increased consumer inclination toward safe and healthy food. Furthermore, the recent spurt in instances of livestock based ailments caused by contaminated feed ingredients have necessitated a wide scale usage of feed binders to lower the toxic effects. Reportedly, these binders prevent contamination of compound feeds and animal feed ingredients by toxic metabolite moulds known as secondary metabolites. The increased usage of these binders is bound to contribute toward the swift expansion of feed mycotoxin binders industry share across the globe. According to estimates, the global feed mycotoxin binders market share exceeded USD 130 million in 2016, in terms of revenue.

U.S. Feed Mycotoxin Binders Market Size, By Livestock, 2016 & 2024 (USD Million)
U.S. Feed Mycotoxin Binders Market Size, By Livestock, 2016 & 2024 (USD Million)

Stringent regulatory frameworks across the globe to boost feed mycotoxin binders market expansion:

While elaborating further on the growth prospects of feed mycotoxin binders industry, it is quite imperative to take note of the regulations set forth by various governmental and safety agencies across the globe. The major regulations prescribed by these authorities are directed toward standardizing meat and poultry products by mandating the usage of toxin binders and other feed additives. Furthermore, the rising prevalence of antibiotic resistance in animals across the world has compelled the regulatory agencies to lay down strict guidelines in a bid to regulate the usage of antibacterial growth promoters and antibiotic medicines. Enumerated below are a few prominent instances highlighting government regulations, that would assist in augmenting the revenue graph of the global feed mycotoxin binders industry:

  • If the recent news reports are to be believed, the European Commission is making a concerted effort to standardize the medicated feed and set long-term antibiotic targets for the overall animal health and welfare. It has been focusing on two major regulations namely Medicated Feed Regulations and Veterinary Medicines Regulations, which are currently being reviewed by the Commission which underlines the importance of European Union’s feed mycotoxin binders industry share. Elaborating further, Medicated Feed Regulations would aim to update the prevailing government controls that oversee medicated feed manufacturing and examine the concerns pertaining to antimicrobial resistance. On the other hand, Veterinary Medicines Regulations would intend to streamline the existing regulatory procedure to aid easy availability of veterinary medicines across Europe. As per estimates, Europe feed mycotoxin binders market is estimated to surpass USD 100 million by 2024.

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  • Recently, Animal Health Australia (AHA), a not-for-profit company has released Australian Animal Welfare Standards and Guidelines for Poultry for public consultation. The draft is being touted as a significant move as it aims to overhaul the prevailing voluntary arrangement to national regulation, ensuring poultry welfare in Australia. Speaking along similar lines, global feed mycotoxin binders market size from poultry applications is estimated to surpass USD 120 million by 2024. It would be prudent to mention that the draft has been reportedly developed by AHA in partnership with the Australian government, welfare organizations, foremost livestock industry associations, and other stakeholders to curtail the emergence of new diseases, enhance animal health, and nurture the integrity and resilience of the nation’s animal health system. Needless to say, such dynamic and proactive measures from all concerned parties shall favorably influence the regional feed mycotoxin binders market progression.
  • The Food Safety and Standards Authority of India (FSSAI), an autonomous agency under the Union Ministry of Health and Family Welfare, has recently notified amendments to the Food Safety and Standards Regulations, 2011. The amendment aims to prescribe the maximum limit while utilizing 37 antibiotics and 67 other veterinary drugs in meat, particularly chicken, as the residue of antibiotics in food from animal sources pose grave threat to human health, given that the residues may develop antibiotic resistance.

Considering the above declarations, the prominent feed mycotoxin binders industry players such as Alltech, Bentoli, Selko, Visscher Holland, and Biomin among others are anticipated to incorporate advanced methods to strengthen their production capability and expand their distribution networks to stay relevant in this moderately concentrated business sphere. Apparently, the global feed mycotoxin binders market is forecast to surpass a total revenue of USD 250 million by 2024, claims a recent report collated by Global Market Insights, Inc.

Author NameSaif Ali Bepari

DR-based medical X-ray market to witness highest growth rate over 2017-2024, rising penetration of mobile systems to increase the product demand

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Shimadzu’s MX8 is a classic instance of what may be termed as ‘colossal innovations’ in medical X-ray market. Touted to be one of most progressive niche verticals of the healthcare and medical devices industry, medical X-ray industry has gained mass prominence in recent years, augmented by a plethora of factors along the likes of rising global geriatric populace prone to chronic diseases, growing advancements in medical imaging systems, and most importantly, the transformational shift from conventional X-ray devices to digital and mobile-based X-ray devices. Shimadzu’s recent innovation, undeniably, runs along the same lines. A pivotal subsidiary of Shimadzu Corporation, Shimadzu Medical Systems USA, has recently unveiled the next generation of MobileDaRt Evolution systems. Tentatively titled MX8, this next-gen device is a digital mobile X-ray system proudly encompassing Shimadzu’s first telescoping support column that would enable enhanced forward visibility and astounding drivability. MX8’s release aptly underlines the extensive efforts that medical X-ray industry players have been undertaking to improvise on current techniques and make them convenient and viable to be used in the future. Aided by highly innovative advancements such as the aforementioned, in tandem with the increased governmental funding for medical research and development activities and a rather favorable reimbursement scenario in the advanced economies, medical X-ray market share stood at an appreciable USD 9.9 billion in 2016.

U.S. Medical X-ray Market, By Product, 2016 (USD Million)
U.S. Medical X-ray Market, By Product, 2016 (USD Million)

Medical X-ray market trends from direct (digital) radiography technology

Once regarded a figment of scientific imagination, digital radiography technology, as on today, holds prime importance in medical X-ray market. The evolution from a non-portable and high X-ray dosage solution to a technology that offers mobility, wireless capabilities, high-resolution imaging, low X-ray dosage and exposure, and convenient affordability is indeed appreciable, depicting how far DR-based medical X-ray industry has come. These detectors possess the ability to preserve original image quality and store files for later access – an advantage that CR systems could not offer.

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In recent times, subject to the robust advancements in technology and the massive shift toward digitization, medical X-ray market players have been striving to tap the unexplored arenas and come up with a gamut of challenging products in DR-based medical X-ray industry. These systems, it is observed, have been extensively deployed in clinics, hospitals, and numerous other medical facilities. With increasing demand, medical X-ray market behemoths have been facing periodic challenges to brainstorm even more, versatile, lightweight, reliable, durable, and mobile DR systems. As per estimates, DR-based medical X-ray industry size has been forecast to depict the highest CAGR of 6.7% over 2017-2024, driven by the robust requirement of these systems for dental applications, orthopedic applications, chest imaging, and mammography.

Increased risks of patient exposure to high radiation, for a prolonged period, has been indisputably considered as a major hindrance for medical X-ray market. As per statistics, X-rays account for more than 89% of the annual radiation exposure. Numerous efforts have been undertaken in the last many years, to brainstorm technologies for lowering this radiation exposure that has been posing as a critical restraint for the commercialization scope of medical X-ray market. In this regard, recently, a group of researchers had unveiled a study that focuses on a mathematical model – the linear no-threshold theory, that would help set radiation standards. Positioning a well-recognized, massively high dose of radiation that would have a severe impact on human health, the algorithm would help achieve a linear extrapolation to minimally lower doses to detect the assumed impact. In the event that the study translates into a practical manifestation, it would create waves of anticipation in medical X-ray market, prompting players to quickly commercialize the technology. In consequence, what can be unassailably inferred is that the results obtained from the numerous R&D programs and the innovative contributions by major companies, would result in medical X-ray market carving out a lucrative growth path in the years ahead, with a target revenue estimation of USD 15 billion by 2024.

Author Name : Saipriya Iyer

Residential electric underfloor heating market to witness sizeable gains over 2017-2024, UK to majorly drive the regional landscape

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The evolving demand for reliable & efficient heating systems have had a perpetual impact on electric underfloor heating market, with regards to its profitability landscape. Over the years, there have been a plethora of strict regulatory compliances focusing on energy conservation and green building construction which have further massively proliferated electric underfloor heating industry trends. A notable instance that validates the aforementioned aspect is of the German government launching the Energy Saving Ordinance initiative to reduce the carbon footprints. Another initiative validating the increasing deployment of electric underfloor heating systems is the Energy Efficiency Directive of 2012 focusing on energy efficient renovations to retrofit at least 3% of government establishments across the European countries. It is prudent to mention that not only the government bodies but also the private entities such as Siemens, Warmup, Schneider Electric, Danfoss, Honeywell, Nexans, Mitsubishi, and Sensata Technologies, constituting the competitive landscape of electric underfloor heating market, in response to these building standards and codes to limit energy consumption, are vigorously innovating their product portfolios to come up with advanced heating technology for residential  and commercial environments. Such moves are overt to leave a substantial impact on electric underfloor heating industry share, which as per estimates recorded a valuation of USD 1.5 billion in 2016.

U.S. Electric Underfloor Heating Market by Application, 2016 & 2024 (USD Million)
U.S. Electric Underfloor Heating Market by Application, 2016 & 2024 (USD Million)

In conjunction with the initiatives undertaken by private and government companies toward energy consumption, industry analysts also speculate the increasing rate of disposable income to be a vital factor favoring electric UFH installations. According to reports, in FY 2016, the UK household disposable income was record at USD 34,930, which was USD 790 higher than what was recorded in 2015. These statistics elicit a clear picture of the rising trend of installing high value & energy efficient heating systems. Given the low power consumption and heating cost associated with electric UFH systems than the conventional fossil fuel based heating systems, analysts are anticipating electric underfloor heating market to chart a lucrative roadmap in the ensuing years. As per the latest report compiled by Global Market Insights, Inc., the global electric underfloor heating market is expected to witness an annual growth rate of 6% over 2017-2024.

Reportedly, the massive demand for efficient heating technologies, particularly from the residential and commercial sectors, is one of the major factors profoundly influencing electric underfloor heating industry size, courtesy – the increasing rate of restructuring and retrofitting activities across these sectors. Citing an instance, the recent announcement of Saudi Arabia’s plan to invest USD 20 billion for retrofitting and restructuring activities in the U.S. has considerably propelled the regional electric underfloor heating industry share. According to reliable reports, it is found that even the basic energy retrofit program implemented on the existing buildings can provide significant economic and environmental benefits. In fact, a basic or level 1 energy efficiency retrofit program targeting the residential building stock could significantly reduce the electricity consumption by 10,054 GWh per year and carbon emission by 7.611 million tons per year.

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In response to the fact that energy efficient systems are gaining considerable traction throughout the regulatory drive, the residential sector is witnessing massive deployments of electric underfloor heating systems. The statistics provided by EIA, states the U.S. residential energy consumption to be over 20.47 quadrillion British thermal unit in 2016. These statistics depict the growing need to limit the power consumption of the residential sector by deploying energy efficient systems. Furthermore, according to the European Commission, the residential sector accounted for more than 64.7% of energy consumption chiefly from the home heating systems. Needless to say, the exponentially rising rates of energy consumption from the residential sector, is one of the most profound factor that is driving the of the electric underfloor heating industry growth . Estimates claim the residential electric underfloor heating market to witness a CAGR of 6% over 2017-2024, subject to the growing demand for localized heating systems. In parallel with the residential sector, the commercial sector is also likely to emerge as a lucrative growth ground for electric underfloor heating market. The extensive demand for these heating systems from healthcare, educational institutions, hospitality, offices, retail, and logistics & transportation are expected to provide significant impetus to the overall electric underfloor heating market outlook.

Taking into consideration the geographical landscape, UK is one of the leading regions practicing strict regulatory compliance and energy standards toward improving energy consumption and curbing GHG emissions. Owing to such measures, the GHG emissions across Europe were plumped by 22%, recording a significant reduction of 1,265 million tons of CO2 since the 1990 level. Add to this, in the year 2015, U.K. introduced an energy saving directive which asserted on the achievement of carbon-neutral buildings target by 2050 and reportedly claimed to reduce the energy consumption across new buildings by 25%. As per the estimates, U.K. electric underfloor heating market is slated to register a CAGR of 7% over 2017-2024.

North America and APAC are further anticipated to emerge as strong contenders in the global electric underfloor heating market landscape, with expanding infrastructure sector and increasing appetite for advanced heating technologies. Not to mention, the growing emphasis on energy conservation and curbing GHG emissions will further fuel the global industry demand. Japan and China have massively contributed to the APAC electric underfloor heating market, recently, holding 15% and 36% of the regional share in 2016, respectively.

Taking into account the massive penetration of these systems globally, the competitive landscape of electric underfloor heating market is overt to be dynamic. In a bid to sustain the market position, industry players are anticipated to adopt M&As, product upgradations, and geographical expansion as their key growth strategies. In terms of commercialization, Global Market Insights, Inc. claims the worldwide electric underfloor heating market to exceed a valuation of USD 2.5 billion by 2024.

Author Name : Ojaswita Kutepatil

Styrene butadiene latex market to be majorly influenced by the growing paper and carpet sectors over 2017-2024

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Pertaining to the rising demand for latex binders in the paper, construction, and adhesives sectors, styrene butadiene latex market is expected to carve out a rather profitable growth path in the ensuing years. The product is essentially a type of emulsion polymer that has a higher crosslink density and tensile strength as compared to styrene butadiene rubber. It also exhibits other favorable qualities such as increased flexibility, resistance to oils and abrasion, lower water permeability and dimensional stability, subject to which styrene butadiene latex industry outlook is forecast to witness majorly lucrative transformations over 2017-2024. Global Market Insights, Inc., states that styrene butadiene latex market share will grow at a CAGR of 3.5% between 2017 and 2024 and will exceed USD 9 billion in the forecast time span.

U.S. styrene butadiene latex market size, by application, 2013 – 2024 (USD Million)
U.S. styrene butadiene latex market size, by application, 2013 - 2024 (USD Million)

The paper processing sector stands as one of the major application arenas of styrene butadiene latex market. The product is extensively used for paper coating in magazines, newspapers, flyers, catalogues and paper food cartons, given that it enhances the pigment’s binding ability and makes the end-product brighter, stiffer, glossier and water resistant. With rising global demands for innovative paper products and the exponential growth of the paper industry, styrene butadiene latex industry is likely to witness considerable growth prospects.

The upward trajectory of the styrene butadiene latex market can also be credited to the product’s deployment in the carpet industry. Styrene butadiene latex has a greater crosslink density – that is to say, when stretched and released, it recovers closer to its original shape, making it ideal for back coating on tufted carpets. In fact, these are the most common type of carpets found in America – over 90% of all commercial carpets in the region are tufted. In consequence, this would also majorly impact the sales graph of North America SB latex industry share from the carpet sector, additionally driven by the product’s high pigment binding capability and strength.

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It is prudent to note that styrene butadiene latex also finds usage as a popular polymer for mortar additives. With the robust growth in the construction industry, the demand for cement and mortar has considerably increased. Adding styrene butadiene latex in mortar gives it greater compressive and tensile strength, increases its adhesive power, and makes it water resistant. In essence, the growth of the construction industry will have a direct impact on the expansion of styrene butadiene latex market. Additionally, it is important to state that the product is also used in glass fiber processing as a binder for surface treatment and is added in paints and coatings to impart a superior look to the end-product. Thus, it would not be incorrect to declare that the massive application portfolio of styrene butadiene would heavily augment the revenue graph of SB latex market.

Currently, Asia Pacific leads global styrene butadiene latex market in terms of volume and revenue, pertaining to the growing carpet and paper sectors in the region. China for instance, was the largest producer and consumer of paper in 2016, which has majorly influenced the regional styrene butadiene latex market. Concurrently, owing to the highly developed paper domain, Europe also holds a considerable share in styrene butadiene latex industry.

The frequent fluctuation of raw material prices is one of the major obstacles in the consistent growth of the styrene butadiene latex market. Styrene and butadiene are both downstream derivatives of crude oil – thus, the fluctuating price of crude oil would have quite an impact on styrene butadiene latex industry. In order to eliminate this uncertainty regarding raw material price, the key players of the styrene butadiene latex industry are investing largely in advanced R&D programs to find other methods of styrene butadiene latex production to stabilize the price trends. These commendable efforts, in tandem with the expansion of the niche end-users of SB latex, are certain to propel styrene butadiene latex market in the years ahead.

Author Name : Paroma Bhattacharya