ABS

Rising demand from textiles industry to drive decaBDE market share

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Growing application in electrical & electronics appliances as well as in the textile industry will drive decabromodiphenyl ether market growth. Decabromodiphenyl ether (decaBDE) is an additive flame retardant that has wide applications in plastics, sealants, textiles, adhesives, coatings and many other products. It is used to protect items like electronic equipment, furniture cushions, upholstery textiles, mattresses, carpet backings, vehicles, aircrafts and building materials from the risk of fire.

U.S. 83% Purity Decabromodiphenyl Ether Market Size, By Material, 2018 & 2025, (Kilo Tons)
U.S. 83% Purity Decabromodiphenyl Ether Market Size, By Material, 2018 & 2025, (Kilo Tons)

 

In the past, commercial decabromodiphenyl ether (decaBDE) constituted 75%-80% of the global production of PBDEs (Polybrominated diphenyl ethers), while the total production of c-decaBDE over  1970-2005 was recorded around 1.1 million to 1.25 million tons. DecaBDE consumption peaked in the early 2000’s and continues to be used worldwide.

In the building industry, decaBDE is used to develop paper foil laminate, home insulation, hot melt adhesive and architectural foam. In the rubber industry, decaBDE powder is used to manufacture flame retardant rubber conveyor belts that are used in underground coal mines, and to manufacture ventilation bands used as air ducts sealants in mine ventilation systems.

DecaBDE is also found in plastics used in electrical appliances and equipment such as computers, circuit boards, cable insulations and casings. Other uses in the transportation sector include fabrics of automobiles and aircrafts. Driven by a widespread application spectrum, decabromodiphenyl ether industry size may register significant growth over the coming years.

Based on material, decabromodiphenyl ether market is segmented into acrylonitrile-butadiene-styrene (ABS), polyolefins, polyvinylchloride, polyurethane, polypropylene. ABS is often used in automotive and electrical equipment. It exhibits excellent mechanical properties, thus offering good impact strength.

ABS offers good electrical insulating properties, on account of which it finds applications in products like electrical connections, light switches, power points and more. Control housing covers are also made using ABS. Additionally, ABS resins are used in injection molding of parts for medical devices, domestic electrical appliances, and automotive casings. Rising inclination toward the product owing to its superior surface appearance and fire-retardant properties will impel ABS-based decabromodiphenyl ether market share.

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Surging ABS demand in electrical & electronics appliances and in the construction industry will also fuel the overall acrylonitrile butadiene styrene (ABS) market, a marginal impact of which will be felt across decaBDE industry.

Decabromodiphenyl ether market has registered considerable growth from textile industry. DecaBDE is used to treat a wide range of synthetic, blended and natural fibers. It is used in products like upholstery, window blinds, curtains, mattress textiles and more. It may also be used in synthetic latex foam in protective clothing, carpets, upholstery fabric, tents, and interiors fabrics used in cars, trains and aircraft.

DecaBDE is commonly applied using back coating process in the textiles industry. Padding processes and printing processes are also used to apply this flame retardant chemical. Increasing disposable incomes along with changing lifestyles have enhanced consumer spending on household fabrics, which is anticipated to accelerate product demand in the textile industry.

APAC decabromodiphenyl ether industry is growing on account of high-production demand for flame retardant, especially across China and India. Indeed, the demand for flame retardants has increased exponentially in China, mainly as the country produces large volumes of electronic devices for global markets. According to reliable reports, China’s electronics production volume grew from 10% in 2016 to 14.5% in April 2017.

Demand for improved fire retardant and durable plastics for consumer electronics should foster decaBDE demand. Moreover, rapid urbanization has led to increased demand for decaBDE in the residential and commercial building sectors, accelerating the APAC decabromodiphenyl ether market share.

Decabromodiphenyl ether is a flame retardant used to enhance the strength, durability and chemical resistance of numerous end-user products. Increasing application in the automotive, textile and construction industries has accelerated industry growth in recent times. Global Market Insights, Inc., estimates decaBDE market size to exceed USD 430 million by 2025.

Author Name : Mateen Dalal

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Automotive software market to amass hefty proceeds from autonomous driving software, rising deployment of in-vehicle infotainment systems to define the industry growth

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Growing automobile sales coupled with the increasing penetration of software in vehicles has led to the global automotive software market emerging as a lucrative hotspot worldwide. Today, the incorporation of automotive software components in any given automobile is rather commonplace, providing a positive impetus to the overall automotive software industry outlook.

Canada Automotive Software Market Revenue, By End Use, 2018 & 2025 (USD Million)
Canada Automotive Software Market Revenue, By End Use, 2018 & 2025 (USD Million)

Over the past decade, the automobile has evolved from a mechanical & electrical set-up to a sophisticated software-driven machine. The discipline of automotive software development is further slated to make the vehicle of the future easier & more enjoyable to drive while making the ride safer for the drivers. Moreover, owing to significant advancements in automotive Artificial Intelligence and the Internet of Things (IoT), automobiles of the future are projected to become smarter and more connected.

In fact, according to the World Economic Forum, automotive software development is increasingly moving towards complete connectivity between automobiles, municipal services & traffic through sensor-embedded infrastructure & roads. This will allow for more efficient traffic management or automated driving, paving the way toward proliferating automotive software market trends.

Impact of autonomous driving on automotive software market size

The Potential: Autonomous driving technology holds the potential of completely transforming the global automotive industry. A number of automotive software companies are increasingly making significant inroads in the field of self-driving, wherein vehicle drivers aren’t required to take control of the steering to drive the vehicle, which would be further elevating automotive software market outlook to new heights.

The Projection: While there have been substantial developments in autonomous driving, owing to the unforeseen nature of the technology, there are no laws that dictate & regulate the use of fully-automated vehicles across the world.

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According to the Union of Concerned Scientists, the benefits of this novel and rapidly updating technology are still largely undiscovered as it has yet to witness widespread deployment.

However, the technology’s potential, such as significantly improving road safety and making transport more accessible, is estimated to bring in substantial growth opportunities to the global automotive software market contenders. Indeed, the Victoria Transport Policy Institute predicts that automated driving would be replacing most of human driving by 2030. As per estimates, autonomous driving software market is projected to record a CAGR of 17% over 2019-2025.

The MVP: The most prominent automated driving software company is Alphabet Inc’s Waymo. According to Bloomberg Hyperdrive, the Google sibling, through its capabilities which have enabled it to lead the launch of driverless cars, has placed itself in a lucrative position to capitalize on the business opportunities automated driving would be bringing forth in the years to come. In fact, the company in 2018, was valued to be a $175 billion startup.

Role of in-vehicle infotainment technology on automotive software market share

The most glaring noticeable change in newer automobile models as opposed to the older ones is the in-vehicle infotainment system.

The Potential: The automotive infotainment technology has witnessed significant advancements in recent years, wherein it has transformed into the vehicle’s centralized controlling unit which could control several vehicular features such as selecting driving modes, ride suspension and select a radio station or pick up an incoming call on your cellphone.

The Projection: The sub-segment of the in-vehicle infotainment system, owing to growing customer demands, is further slated to become a common feature of a majority of automobiles in the forthcoming years. In fact, according to Intel, driven by the demand for more features the overall share of an in-vehicle infotainment industry is slated to reach a considerable billion-dollar remuneration by 2022.

Additionally, the World Economic Forum estimated that advancements in the infotainment technology would be adding $65 billion worth of operating profits to the global automotive industry value chain.

Fueled by significant technological advancements in the sub-domains of automated driving & in-vehicle infotainment systems, the global automotive software market size is expected to depict substantial growth over 2019-2025. According a research report by Global Market Insights, Inc., automotive software industry size will surpass the $52 billion renumeration mark by 2025.

Author NameAkshay Kedari

Top four trends driving Injection Molded Plastic Market over 2016-2023: U.S. to remain a prominent revenue contributor

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Forming an essential fragment of the global plastics sector, Injection Molded Plastic Market has established itself as one of the most dynamically evolving businesses of recent times. The injection molding process is one of the most commonly-used plastic formation technique across myriad industrial sectors, subject to the absolute ease and convenience provided by this methodology. With a widespread spectrum of applications across the automotive, packaging, construction, and consumables & electronics sectors, injection molded plastic industry has indeed embarked on a highly profitable growth path since its inception. Statistics bear testimony to the aforementioned fact – global injection molded plastic market size stood at 100 million tons, and has been forecast to record a CAGR of 5% over the forthcoming years.

The process of injection molding has penetrated most of the plastics manufacturing sectors, and is used to develop a range of plastic products, right from wheelie bins and car bumpers to micro parts for packaging. Manufactured from materials such as ABS (acrylonitrile-butadiene-styrene), nylon PA, polycarbonate, HDPE, and polypropylene, injection molded plastic products are liberally used across a plethora of manufacturing sectors. It is therefore, evident that the changing trends of the manufacturing sector will have a profound effect on the growth path of injection molded plastic industry.

MEA Injection molded plastics market size, by application, 2012 – 2023 (USD Million)

MEA Injection molded plastics market size, by application, 2012 - 2023 (USD Million)

The automotive sector will stand as one of strongest growth drivers of injection molded plastic market. As per estimates, automotive & transportation applications are slated to witness gains of more than 5.7% over 2016-2023. The Corporate Average Fuel Economy (CAFE) has implemented regulations to produce low-fuel consumption cars, which will spur the business expansion. The production of lightweight automobiles will also boost injection molded plastics industry – estimates claim that even a mere 10% reduction in car weight will lead to saving around 5% to 7% of fuel.

In the recent years, injection molded plastic market has been influenced by a plethora of trends. It is noteworthy to mention that some of these trends mentioned below will not have a prominent impact on solely injection molded plastic industry, but on the entire plastic manufacturing sector.

The impact of automation on injection molded plastic market

The onset of automation has created a path-breaking influence on practically all the industries worldwide. Robotics has long since been a disrupting trend in the manufacturing sector, and if surveys are to be believed, its impact across injection molded plastic industry is slated to be immense. Heavily deployed in myriad manufacturing processes, automated tools and robots have transformed the dynamics of manufacturing sector. Automated robots are quick, accurate, agile, and adaptable, which ultimately translates into efficient production.

Injection molded plastic market giants such as BASF, SABIC, Eastman, Dow, ExxonMobil, INEOS, and Huntsman have been deploying these robots to streamline the process of injection molding and develop highly efficient plastic products within a lesser amount of time. Robots apparently provide more leeway and lend flexibility to the manufacturing process, thereby leading to the expansion of injection molded plastic industry. In fact, highly sophisticated robots can also be used to manufacture customized products, especially across the automotive sector.

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The impact of renewability on injection molded plastic market

In accordance with the latest trends of eco-friendliness and sustainability, injection molded plastic industry players have been striving to develop bio-based, recyclable products. Creating bio-based plastics that are reclaimable and recyclable is likely to pose a major challenge for manufacturers, nonetheless, the trend has penetrated most sectors, which has made it inevitable for injection molded plastic market players to generate plastics without the usage of fossil fuels. Many companies have already implemented a prototype of such products, from soybeans, corn, flax, etc., which seem to be garnering acclaim. In response, many other entrants in the industry are also striving to achieve a balance between conventional plastic production and alternative, bio-based plastic production, which will eventually stimulate injection molded plastic industry size.

The impact of on-shoring on injection molded plastic market

On-shoring has begun to gain renewed traction lately, despite the mixed reviews regarding its execution. The trend of shifting the manufacturing facilities back to the home ground will prove to be beneficial for most sectors, injection molded plastic industry being no exception. Some of the statistics supporting the resurgence of on-shoring across the U.S. are outlined below:

  • As per a 2014 survey, manufacturers predicted that the United States will be responsible for more than 455 of their production by 2019.
  • The year 2014 also depicted that 20% of the top executives working companies that are a part of the billion-dollar fraternity intended to come back to the U.S. from China.
  • More than 22% of other such executives have declared that they would do the same in a few years.
  • A humongous figure exceeding 50% have declared interest in on-shoring.

The impact of technology on injection molded plastic market

Connected technologies will have a profound impact on injection molded plastic industry in the coming years, as depicted by surveys. Over the last few years, manufacturers have realized that customer needs need to fulfilled immediately, so that production issues can be resolved sooner and managers are able to troubleshoot issues the moment they arise. On these grounds, the advent of IoT has helped streamline the manufacturing process across major sectors, including injection molded plastic market. Technology will also help factories utilize sensors, digitization, and networked devices, that will help in effective cost-control and enhanced productivity.

The contribution of the United States toward the overall injection molded plastic industry

The plastics sector is the third-largest manufacturing business in the U.S., which is a strong factor impelling the growth of injection molded plastic market. Some of the vital facts that make the U.S. one of the most lucrative revenue pockets of injection molding industry are as follows:

  • The U.S. plastics sector accounts for the employment of almost 900,000 employees in the region, which will be a key factor impelling the regional injection molded plastic market. In fact, the country houses around 16,000 plastic manufacturing facilities.
  • North America injection molded plastic industry, dominated by the U.S., is slated to depict a CAGR of 4.8% over 2016-2023 demand, supported by the expansion of the F&B packaging and construction sectors.
  • In 2012, plastic shipments accounted for more than USD 370 billion in sales. The same year had actually recorded a valuation of more than USD 12 billion.

Experts have rightly stated that injection molding can be qualified as one of the greatest technologies ever conceptualized, that has transformed the outlook of the global plastic sector. The advent of 3D printing has cast a momentary gloom on the growth spectrum of injection molded plastic market, especially since the former is reputed for the production of finished prototypes, however, industry players have been concentrating on bringing forth newer techniques to develop a range of plastic models that may be more flexible and affordable. Keeping abreast of the latest trends, companies operating in injection molded plastic industry have also begun to concentrate on the development of bio-based plastics. Also, they ultimately intend to reduce the dependency factor on crude oil subject to strict environmental legislations enforced by regulatory bodies, which may lead to the generation of lucrative investment opportunities, thereby creating a favorable growth path for injection molded plastic market.

Author Name : Saipriya Iyer

APAC synthetic & bio-based butadiene market to procure a major chunk of the global demand, bio-based butadiene industry to witness phenomenal gains over 2016-2024

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With a diversified application portfolio in the automotive sector, global synthetic and bio-based butadiene market is generating a commendable momentum in the chemical industry. The huge valuation of the butadiene market can be majorly credited to its use in the manufacturing of tires. On account of this fact, the expanding tire industry which had a market size of 2.5 billion units in 2016 and is projected to surpass a volume of 3.9 billion units by 2024, validates the strong growth prospect of the synthetic and bio-based butadiene industry over the coming timeframe. In addition to this, the growing vehicle production which was recorded at 90 million units in 2016 is also a strong driving force behind the synthetic and bio-based butadiene market trends.

U.S. Synthetic & Bio-Based Butadiene Market size, by application, 2013 – 2024 (USD Billion)
U.S. Synthetic & Bio-Based Butadiene Market size, by application, 2013 - 2024 (USD Billion)

APAC synthetic & bio-based industry to hold a major chunk of the global landscape over 2016-2024Asia Pacific is one of the major growth avenues for the global synthetic and bio-based butadiene industry. Reportedly, APAC led the global industry landscape in 2016 with a contribution of more than 45% of the overall share. China is forecast to predominantly drive the regional revenue having had similar trends over the past few years. As per the estimates, overall automobile production in China was 23 million units in 2016. Moreover, the notion of reducing the weight of the vehicles which further enhances the fuel efficiency and parallelly reduces the carbon emissions in the atmosphere is also significantly impacting the regional dynamics. China reportedly uses a substantial amount of plastic content in the manufacturing of automobile parts, particularly ABS. Estimates claim China ABS synthetic & bio-based butadiene market to record substantial growth over the years ahead having had a valuation of USD 740 million in 2016.

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Synthetic butadiene to face a tough rivalry from the phenomenally increasing bio-based butadiene industry share

The shifting inclination toward biodegradable products is also leading to a dynamic change in the synthetic and bio-based butadiene market outlook. This fact is validated by the growth statistics pertaining to the synthetic butadiene market. In 2016, synthetic butadiene dominated the overall product landscape having had a valuation of USD 15 billion in 2016. However, with the prominent notion of using bio-based products and increasing concerns pertaining to environmental hazards, the synthetic butadiene market will experience a moderate CAGR of 4% over the coming seven years. On the contrary, the sluggish growth of the synthetic butadiene will parallelly increase the demand for bio-based counterparts substantially. Reportedly, Bio-based butadiene market held a valuation of USD 450 million in 2016, a value far less than the synthetic butadiene market. However, the analysis claims the bio-based butadiene industry to register a double-digit growth rate of 13% over the period of 2016-2024.

The industry participants are making constant efforts to modify their product portfolios in sync with the environmental norms. In this regard, the firms are investing heavily in R&D to develop bio-based products. Key participants in the synthetic and bio-based butadiene market include BASF SE, Evonik Industries, Eni S.p.A, INEOS, ExxonMobil, Royal Dutch Shell Plc, LyondellBasell Industries N.V., The Dow Chemical Company, and SABIC. Reportedly, the industry has been quite fragmented over the years with the major players sharing just 30% of the overall business space. Another trait of the synthetic and bio-based butadiene industry is the tie-up of these product manufacturers with the end-use industries such as automotive, construction, etc. where these players get a major exposure to the entire industry ecosystem.

The expanding automotive base is certain to provide a substantial impetus to the global synthetic and bio-based butadiene industry over the years ahead. As per Global Market Insights, Inc., this industry is estimated to exceed a market share of USD 24 billion by 2024. The two major trends to watch for in the synthetic and bio-based butadiene market are the escalating growth of the bio-based butadiene products and the challenges they might offer to the synthetic counterparts coupled with the lucrative opportunities APAC will offer to the global industry base.

Author Name :Satarupa De