Applications
Specialty Pulp and Paper Chemicals Market: High demand across the packaging sector to drive the industry growth over 2016-2024
Heavy demand for one-sided specialty (coated) papers across various stationary applications will favorably impact specialty pulp and paper chemicals market growth over the coming seven years. Moreover, increasing demand for these chemicals in the packaging industry for flexible packaging applications will augment the global industry trends over the coming years. According to Global Market Insights, Inc., “Specialty pulp and paper chemicals market value is forecast to hit USD 31 billion by 2024.” Wastewater treatment chemicals sector revenue, driven by growing concerns towards environmental protection, is expected to augment the market growth over the next few years. Rise in the popularity of specialty flexible packaging materials and labels will further contribute towards the industry size.
U.S. Specialty Pulp And Paper Chemicals Market size, by product, 2015 & 2024 (USD million)
Moreover, new enzyme development to increase the efficiency of paper production is projected to encourage the industry trends over the next few years. Booming packaging and e-commerce industry is projected to boost specialty pulp and paper chemicals market growth in the near future. In addition to this, growing usage of graphic papers, tissues, diazo papers, and other specialty papers are forecast to foster specialty pulp and paper chemicals industry growth over the coming timeframe. Extensive applications of specialty pulp and paper chemicals in release liners, thermal transfers, posters, laminations, envelopes, and gift wraps will further benefit the market growth.
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Functional chemicals, bleaching chemicals, polymerization & blowing agents, and process chemicals are some of the major specialty pulp and paper chemicals products. High demand for value-added paper leading to enhanced use of functional chemicals will drive specialty pulp and paper chemicals market growth over the coming years. Functional chemicals, which dominated the overall revenue in 2015, are anticipated to record substantial gains of 4.5% over the period of 2016-2024. Furthermore, growing use of recycled papers leading to the high demand for bleaching chemicals is expected to contribute substantially towards the specialty pulp and paper chemicals industry growth over the next few years. Bleaching chemicals are forecast to record a CAGR of 4% over the coming timeframe. Process chemicals market revenue is expected to surpass USD 6700 million by 2024. It helps in enhancing the efficiency and lifecycle of pulp manufacturing machines.
Regional highlights related to specialty pulp and paper chemicals industry over 2016-2024 are detailed below:
- Asia Pacific specialty pulp and paper chemicals market, which led the regional landscape in 2015, will record a CAGR of 6% over the coming timeframe. High demand for packaging materials along with rise in the production capacity will fuel the regional growth. India and China to be the key regional revenue drivers.
- Rise in the number of new manufacturing units/establishments in the region, is expected to contribute significantly towards LATAM specialty pulp and paper chemicals industry size, which is expected to grow at a rate of 5% over 2016-2024.
- North America specialty pulp and paper chemicals industry is forecast to hit the target revenue margin of USD 6 billion by 2024.
Key industry players include Nalco Holding Company, Kemira Oyj, Ashland Inc., Akzo Nobel N.V., Shell Chemicals Company, BASF SE, Buckman Laboratories International Inc., SNF Floerger Company, and Evonik Industries.
Author Name : Dhananjay Punekar
Hybrid solar wind market outlook: Rising global warming concerns coupled with energy crisis to stimulate the industry growth
High urge for reliable power supply along with strict legislations to curb the release of GHG in the atmosphere will push hybrid solar wind market growth. Moreover, favorable government policies encouraging the use of renewable energy along with strict regulation executions for reducing power consumption is expected to positively influence the industry growth. According to a report by Global Market Insights, Inc., “Hybrid solar wind market value is forecast to hit USD 1.47 billion by 2024.” Furthermore, declining manufacturing costs of the components such as wind blades, solar panels, and wind turbines are expected to contribute considerably towards the market growth.
U.S. Hybrid Solar Wind Market size, by product, 2013 -2024 (MW)
Hybrid solar wind systems find key applications across industrial, residential, and commercial sectors. High requirement for continuous electricity supply is anticipated to drive the hybrid solar wind industry revenue across the commercial sector. Hybrid solar wind market size in industrial sector worth USD 224 million in 2015, is anticipated to witness a significant growth over the coming years. Government efforts to minimize carbon emissions is expected to drive the growth. The rise in the number of electrification programs across the emerging economies, primarily concentrating on decentralizing the power generation, will boost the industry growth across the residential sector.
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Standalone and grid connected are the major products through which hybrid solar wind systems are deployed. Grid connected hybrid solar wind industry size is expected to record a CAGR of 10% over the period of 2016-2024. Net metering, low deployment costs, and feed in tariff are the key growth drivers. Standalone hybrid solar wind market revenue is expected to grow significantly over the coming years, owing to its cost-effectiveness as compared to grid connected products.
Below are the regional trends influencing hybrid solar wind market over 2016-2024
- Growing investments across renewable energy projects is projected to drive Australia hybrid solar wind industry size over the next few years. The government of Australia has allocated USD 1 billion funds for clean energy technology projects.
- Chile hybrid solar wind market revenue is anticipated to grow at a rate of 11% over the period of 2016-2024.
- Shortage of power supply and high demand for off grid electricity will favor Nigeria hybrid solar wind industry outlook over the next few years.
- South Africa hybrid solar wind industry revenue is expected to hit USD 12 million over the coming timeframe.
- Government policies encouraging the use of sustainable energy along with rural electrification programs are expected to boost India hybrid solar wind market trends.
- U.S. hybrid solar wind industry will grow considerably over the coming years, driven by heavy focus on consumption of renewable energy along with beneficial government policies supporting energy conservation.
Market participants will try to enhance their ROI through product differentiation as well as technological innovations. Key industry participants include Blue Pacific Solar Product Inc., Alpha Windmills, Alternate Energy Company, ReGen Powertech, Unitron Energy System Private Limited, Polar Power Inc., Zenith Solar Systems, Gamesa, Grupo Dragon, and Supernova Technologies Private Limited.
Author Name : Dhananjay Punekar
Artificial lift systems market to garner hefty proceeds from the sales of rod lifts & ESP systems, evolving technological developments in equipment design to complement the industry growth over 2018-2024
As the oil and gas industry witnesses consecutive highs & lows in addition to relentless demand, several verticals, artificial lift systems market among them are likely to be impacted in a noticeable manner. As per reliable estimates, annual oil demand is expected to grow by 1.2% and surpass 105 million bpd by 2025. As the oil fields across the globe reach a stage of maturity, their natural pressure tends to diminish, leading to a decline in production. However, this scenario may be marginally diminished as modern technology can now provide means for extraction such as electric submersible pumps, gas lifts and progressive cavity pumps. In this regard, most oil producing companies are incorporating secondary extraction techniques to boost oil production, thus stimulating artificial lift systems market trends.
North America Artificial Lift Systems Market Size, By Technology, 2017 & 2024 (USD Million)
The last couple of decades have witnessed tremendous technological developments in artificial lift systems industry, enabling operators to produce oil even in the most challenging environments. With the installation of technologies like jet pumps, rod lifts and ESPs, a well producing 5000 barrels per day could yield up to 7000 barrels per day. Surface, reservoir operational conditions, and fluid together decide the kind of best artificial lifts to be deployed for maximum production. Armed with a simple design and easy operability coupled with low operating costs, rod lift based artificial lift systems market is expected to gain extensive momentum in the ensuing years. The ability of these systems to lift high temperature oil as well as high efficiency leading to 50% – 60% increase in production will further increase the deployment of rod lifts.
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The electric submersible pump is another dependable technology that can handle volumes as large as 90,000 barrels per day drawn from great depths. Considering that ESPs are the most economic lifts that have proven to be very efficient, the increasing deployment of ESPs in oil fields has added stimulus to artificial lift industry outlook. ESPs can operate in horizontal wells as well in high angle ones, in addition to being able to change reservoir conditions due to variable speed drives. The rapid evolution in ESP technology has made this system capable of operating in gassy and abrasive environments – courtesy, the development of abrasion resistant zirconia bearings that has enhanced the run life of ESPs, eventually propelling artificial lift systems industry size.
Artificial lifts are being used in approximately 950,000 wells around the globe to improve production rates after nature pressure has declined. These lifts have motors and pumps that are controlled by variable speed drives to provide better insight and control over oil pumping in different stages. Variable speed drives have been developed over the recent decades and have integrated oil industry specific programs, enabling operators and engineers working with artificial lifts to access new opportunities with better control. Digital intelligence is also paving major pathways for the growth of artificial lift systems market, as is evident from the instance of Silverwell Technology Ltd. securing a significant investment from British entrepreneur Lloyd Dorfman. Being a prominent provider and manufacturer of digital intelligent artificial lifts, Silverwell’s procurement of funds from Dorfman, that acquired a 20% equity interest in the company, indicates the interest the oil industry has taken in the development of digitally intelligent artificial lifts.
With perpetually fluctuating crude oil prices, oil extraction companies are compelled to optimize their spending, leading to an increased adoption of these lifts and the gradual surge of artificial lift market systems industry share. Artificial lifts are a cost-efficient alternative to the prospect of drilling a new well. Quite overtly, oil companies, in a drive to cut operation costs, readily deploy artificial lifts to optimize their spending without compromising on productivity. The trend of modernizing artificial lift systems with the integration of digital intelligence will further upscale the growth prospects of artificial lift systems market, slated to cross USD 14 billion by 2024.
Author Name : Paroma Bhattacharya
Anti-Corrosion Coatings market outlook: Energy sector to be the prominent revenue contributor
Anti-Corrosion Coatings Market, having attained a revenue of USD 12 billion in 2015, is all poised to witness substantial gains owing to its applications across oil & gas, chemical manufacturing, power generation, aerospace, infrastructure, and marine sectors. According to Global Market Insights, Inc. “Anti-Corrosion Coatings Market size is estimated to witness a CAGR of 5% over the period of 2016-2025.” These coatings are widely used as cost-effective solutions for protecting the metal surface from the weathering effects which will notably influence the anti-corrosion coatings industry trends.
U.S Anti-Corrosion Coatings Market size, by product, 2015 & 2025 (USD Million)
Powder based coatings, water-based coatings, and solvent-based coatings are some of the notable modes of application of the anti-corrosion coatings. Water based anti-corrosion coatings market will exhibit an annual growth rate of more than 4.5% over the coming period of 2016 to 2025, driven by the favorable government norms emphasizing on the usage of low volatile organic compound as an ingredient in the anti-corrosion coatings.
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Anti-corrosion coatings find extensive set of applications across various end-use sectors such as oil & gas, transport, shipbuilding, energy, and infrastructure. Global oil & gas equipment sector is anticipated to reach USD 278 billion by 2025. The expansion of this sector will create a positive roadmap for the anti-corrosion coatings industry, owing to its water proofing and corrosion resistance ability in oil storage tanks and in drilling pipes. Anti-corrosion coatings industry share in the energy sector is anticipated to register a CAGR of 5% over the period of 2016-2025. The ability of these coatings to protect the surface against changing atmospheric conditions will drive its applications across hydropower, coal, biomass, solar power, and nuclear sector.
Shipbuilding is another lucrative application sector in anti-corrosion coatings industry which is predicted to witness a significant surge in the coming seven years. The ability of these coatings to provide corrosion protection, UV stability, anti-static, and durability effect to the ship surface will propel the anti-corrosion coatings market size across marine applications.
Favorable governments norms pertaining to the infrastructural developments will bring heavy gains in the anti-corrosion coatings market in the coming years. The superior properties of coatings such as UV resistance, heat resistance, anti-corrosion, superior bonding & structural strength coupled with low costs will contribute towards fueling the anti-corrosion coatings market share.
Based on the product segment, anti-corrosion market size mainly comprises acrylic, chlorinated rubber, polyurethane, zinc, epoxy, and alkyd. Epoxy anti-corrosion coatings industry dominated the product segment in 2015 and is anticipated to grow significantly by recording a rate of 4.5% by 2025, owing to its notable corrosion resistance and excellent abrasive characteristics. Polyurethane based products collected a revenue of USD 3 billion in 2015 and will generate heavy demand over the coming timeline. The features such as broad color, shiny appearance, and anti-corrosive characteristics will fuel the demand for polyurethane anti-corrosion coatings.
Asia Pacific anti-corrosion coatings market share is anticipated to register an annual growth rate of 5% over the coming eight years. The growth can be attributed to the expanding construction sector across this region. Additionally, growing popularity of anti-corrosion coatings, lower wages, and rise in shipping activities will further fuel the regional trends. India, China, Hong Kong, Thailand, Japan, Philippines, Singapore, Indonesia, and Korea will be the major revenue pockets of the APAC anti-corrosion coatings industry size.
North America collected a revenue of USD 15 billion in 2015 and is expected to grow significantly over the coming years, owing to the high investment in the defense sector along with expanding oil & gas industry. U.S. will contribute noticeably towards the regional growth.
RPM International Incorporation, AkzoNobel, Hempel Group, Valspar Company, PPG Industries, Valspar Company, Ashland, Axalta Coating Systems, AICA Kogyo Company Limited, Chugoku Marine Paints Limited, BASF SE, Chugoku Marine Paints Limited, PPG Industries, and Nippon Paints are some prominent industry participants in the anti-corrosion coatings market.
Author Name : Sunil Hebbalkar
U.S. industrial boiler market to gain much of its overall valuation from the food & beverage sector by 2024
U.S. Industrial Boiler Markethas recently witnessed Miura showcasing its range of efficient, reliable, and safe industrial boilers at the AHR Expo 2018. The company, a prominent player of the U.S. industrial boiler industry and a global leader in innovative steam boiler technology, has lately emerged as the choicest of companies chosen across the U.S. and Canada for boiler installation and maintenance. Miura’s product spectrum has undoubtedly triggered a competitive storm in U.S. industrial boiler market, for the simple reason that the company is fanatically meticulous about ensuring the production of safe and reliable systems with high efficiency for its clientele, ranging from food and beverage processors, brewers and distillers, and hospitals, to metal processing firms, paper mills, and textile/carpet manufacturers. Having categorically been labelled as one of most lucrative hubs for industrial growth, the U.S. today stands nearly at the focal point as far as energy sector is concerned. Consequently, U.S. industrial boiler market, despite being a very niche segment, has emerged as one of most profitable verticals of the global boiler industry. As a matter of fact, in 2016, the U.S. industrial boiler market size was recorded at a modest USD 450 million, pertaining to the product’s widespread demand across the chemical and food sectors.
U.S. Industrial Boiler Market Size, By Application, 2016 & 2024 (USD Million)
U.S. industrial boiler market trends from the food & beverage sector
The food & beverage domain stands as one of the most remunerative end-use verticals for U.S. industrial boiler industry. Boilers, being typically used for providing thermal energy, improving efficiency, reducing fuel wastage, increasing heated water quality, prevention of fouling, balancing mineral content, and many more related functions in the F&B sector, are undeniably one of most indispensable equipment in food companies. In consequence, this has provided a major impetus to U.S. industrial boiler market size from the F&B sector. Not to mention, the U.S. food industry can indeed be enlisted among one of the most lucrative business spheres in the country, already having recorded its name in the billion-dollar space. Subject to the rapidly changing lifestyles and meal consumption habits, coupled with rising number of investments in novel food processing units that demand the installation of highly productive boilers, U.S. industrial boiler market size is indeed likely to witness a major boost over 2017-2024 from the food & beverage applications alone. Estimates claim that the F&B sector had accounted for over 10% of the installed capacity of U.S. industrial boiler industry, and may hold quite some share percentage in the ensuing years as well.
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While the food and beverage sector indeed holds pivotal importance as a profitable end-use domain for U.S. industrial boiler market as far as revenue generation is concerned, it is prudent to mention that these products are being used across other business spheres as well, such as the chemical, metals, and the paper sectors. As on today, the primary goal of most business players revolves around GHG emission reduction and environmental safety. Evidently, companies partaking in U.S. industrial boiler industry share have also been attempting to replace the fuel source in industrial boilers so as to achieve a carbon-free operational process.
An instance validating the aforementioned pointer is that Monolith Materials, a next-gen manufacturer of natural gas-based carbon black, has recently signed a deal with the Nebraska Public Power District – Nebraska’s biggest electric utility, that aims to replace its current coal-fired boiler with a hydrogen-fired boiler at the Sheldon Station plant, Hallam, in Nebraska. Reportedly, the new industrial boiler will be designed to generate 125 MW electricity that would be sufficient to power around 150,000 households. The deal would indeed mark major significance in U.S. industrial boiler market, given that it would not only enhance the production capacity at the Nebraska utility, but would also help considerably reduce carbon and GHG emissions. Riding along the hallmark of the same, other companies are expected to undertake pivotal steps to replace the fuel source with one that is environment-friendly. Indeed, this would provide numerous growth opportunities for U.S. industrial boiler industry players, and would simultaneously help augment the revenue graph of this regional business sphere. Incidentally, analysts forecast the U.S. industrial boiler market size to be pegged at USD 600 million by 2024
Author Name : Saipriya Iyer
Zonal Isolation Market: Increasing drilling activities across the globe to stimulate the industry growth over 2016-2024
The graph of Zonal Isolation Market is expected to display a high surge over the next few years, pushed by growing number of drilling operations carried out across the offshore and onshore destinations. Technological innovations have helped the industry players explore new oil & gas wells and this has significantly contributed towards the industry growth. Increase in number of shale gas exploration along with heavy crude oil demand due to high energy requirements, will propel zonal isolation industry growth in the near future. As per Global Market Insights, Inc., “Zonal Isolation market size is forecast to touch USD 31.18 billion by 2024.”
Moreover, rise in the number of drilling rigs across the globe is projected to increase the demand for exploration and production of oil & gas wells, thereby driving the industry trends over the coming timeframe. For instance, world drilling rig count improved by 74 units in July 2016 in comparison to June 2016. In fact, the U.S. rig count had numbered to 449 rigs from 32 rigs while Canada contributed nearly 31 units to 94 rigs. Developed countries like the U.S. and Canada are investing heavily in oil & gas exploration projects which is expected to drive the zonal isolation industry growth over the next few years.
U.S. Zonal Isolation Market Size, By Application, 2013-2024 (USD Million)
Offshore sector is a major application area, projected to offer high growth opportunities for zonal isolation industry over the coming seven years. As per the research, offshore application is expected to grow at a CAGR of 7% over the coming timeframe, driven by huge investments in the exploration and production activities carried out offshore. Moreover, zonal isolation market share in onshore sector, will experience a high growth, due to the enormous rise in onshore drilling activities.
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Below are the regional trends influencing zonal isolation industry over 2016-2024
- Rise in number of shale gas exploration activities along with high requirements for oil & gas is expected to spur Europe zonal isolation market growth over the coming years. UK and Norway are expected to be the major regional revenue contributors.
- Middle East & Africa zonal isolation market is projected to witness significant gains of 6.53% over 2016-2024, driven by rise in regional drilling rig count. Iran and Saudi Arabia are projected to be the major regional revenue pockets.
- North America zonal isolation industry will attain maximum growth over the coming seven years, driven by rise in the number of drilling offshore activities along with the discovery of unexplored oil & gas basins/reserves. U.S. is expected to contribute substantially towards the regional share.
- Zonal isolation industry will obtain optimum growth across the nations such as China, Canada, UAE, Mexico, Russia, and Brazil, driven by the increase in oil & gas exploration and production activities.
Market players will try to enhance their ROI through technological innovations, R&D investments, and strategic alliances. Key industry players include TAM International, Expro International Group Holdings Limited, Schlumberger Limited, Tendeka, FMC Technologies, Baker Hughes, Weatherford International, Halliburton Company, Superior Energy Services, C&J Energy Services Incorporation, and Oilsery.
Author Name : Dhananjay Punekar
Defoamers market outlook: Heavy demand across pulp & paper sector to influence the industry growth over 2016-2024
Defoamers market is expected to display a remarkable growth over the next few years, driven by its wide applications across pulp & paper, water treatment, food & beverages, and paints & coating sectors. Global pulp & paper sector, whose revenue was estimated at over USD 550 billion in 2015, is projected to observe a high growth over the next few years. As per Global Market Insights, Inc., reports “Defoamers industry size is forecast to reach a revenue margin of USD 4.3 billion by 2024.” In addition to this, wastewater treatment chemicals market size, which is escalating rapidly is also a chief growth factor for the defoamers industry share. Food sector, where application of defoamers is gaining high popularity, owing to its use as an additive to prevent formation of foam in ready-to-eat foods will not only drive the defoamers industry, but will also supplement the food additives market growth significantly.
Major products in the defoamers business space are classified as oil-based, water-based, and silicone-based products. Water-based defoamers market is likely to witness a rapid growth over the coming timeframe, having attained a revenue of over USD 550 million in 2015. The growth can be attributed to the high environmental benefits provided by the product. High product demand across pulp & paper sector is expected to boost silicone-based defoamers industry growth over the coming seven years.
U.S. Defoamers Market size, by application, 2015 & 2024 (USD Million)
Pulp & Paper is a major application area, predicted to create lucrative growth opportunities for defoamers market over the next few years. As per the research study, pulp & paper application is likely to witness a significant surge over the period of 2016-2024, driven by the rising demand across end-user sectors such as stationery and packaging. Water treatment sector, which is estimated to grow at a rate of 4.5% over the period of 2016-2024, will drive defoamers industry growth in the near future. Rising concerns over the pollution of environment and water bodies are expected to encourage the growth.
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Below are the regional highlights pertaining to the defoamers industry over 2016-2024
- Asia Pacific defoamers industry, which accounted for 35% of the overall revenue in 2015, is anticipated to witness the fastest growth over coming timeframe. Rapidly expanding agrochemicals and pulp & paper sectors are expected to drive the regional growth. Malaysia, China, Indonesia, and India are expected to be the key regional revenue contributors
- North America defoamers market size is expected to witness a moderate growth over the coming seven years, surpassing USD 800 million by 2024
- Europe defoamers market value estimated at USD 650 million in 2015, is expected to experience lucrative growth over the next few years, driven by emerging packaging sector in the region
Key industry participants include Evonik Industries, Bluestar Silicones, Wacker Chemie AG, Dow Corning Corporation, Ashland Incorporation, Air Products & Chemicals Incorporation, Clariant, and BASF SE.
Author Name : Dhananjay Punekar
Hydrogen peroxide market outlook: Escalating paper and pulp industry to stimulate the market growth: Trends & Forecast-2024
Hydrogen Peroxide Market will exhibit an upward trend over the coming years, with the urge to maintain the environment sustainability and the rising pressure to minimize plastic wastes globally. Increasing awareness for eco-friendly packing process and recycled paper will stimulate the hydrogen peroxide market outlook notably. The packaging industry is focusing towards flexible packaging material than plastics to cater to the growing demand. Moreover, consumption of paper across the globe influencing the global paper & pulp industry has been a strong driving factor for the growth of the hydrogen peroxide market. According to Global Market Insights, Inc. “Hydrogen Peroxide Market size is estimated to witness a CAGR of 5% over the period of 2016-2024.”
Increasing adoption of (HPPO) hydrogen peroxide propylene oxide process will further fuel the demand for its key raw material i.e. hydrogen peroxide in the coming years. Companies such as Dow Chemicals, BASF SE, and Solvay have collaborated to use the HPPO technology. Furthermore, the use of electronic grade hydrogen peroxide in etching of semiconductors boards will have a dynamic impact on the hydrogen peroxide industry revenue trends. Companies such as Evonik and Solvay have commercialized the electronics grade variants and are investing intensively in the research and development.
U.S Hydrogen Peroxide Market size, by end-user, 2015 & 2024 (USD Million)
Asia Pacific dominated with 50% of the global hydrogen market in 2015 with a revenue of over USD 2,000 million and is predicted to substantially acquire the market share in the coming timeframe. APAC hydrogen peroxide market growth, lead by China will exhibit a 6% CAGR over 2016-2024, driven by indulgent government norms and cheap workforce.
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Based on end-use, hydrogen peroxide industry finds extensive application across Paper & Pulp, Waste Water Treatment, Chemical, and Mining. Hydrogen peroxide market size in chemical sector is projected to surpass a revenue of USD 2,000 million by 2024. This sector will observe escalating gains over the coming years, owing to HPPO process and increase in usage of propylene oxide in commercial products like synthetic emollients, flame retardants, drilling chemicals for oil fields etc.
Paper and pulp industry, dominating the global market share by 40% in 2015, is expected to record a CAGR of 5% over the period of 2016-2024, owing to its increasing demand for stationery and recycled paper. This lucrative sector may consume hydrogen peroxide worth USD 2500 million in the coming seven years.
Another sector witnessing heavy gains in the hydrogen peroxide industry is the waste water treatment industry. This industry will observe escalating growth at a rate of 5.5% over the period of 2016-2024. Government regulations for waste water treatments in industry and environmental protection are the attributing factors for the industry growth.
North America and Europe hydrogen peroxide market report are expected to cross USD 1,000 million by 2024. However, strict regulations by REACH, EPA, FDA and OSHA will shift the focus of the manufacturers to Asia Pacific regions.
Notable hydrogen peroxide industry participants are AkzoNobel, Arkema, Gujarat Alkalies, Solvay S.A., Kemira Oyj, Mitsubishi Chemical Corporation, Gujarat Alkalies & Chemicals, and Evonik Industries.
Author Name : Ojaswita Kutepatil
Lactic Acid Market Outlook: Rising popularity of non-toxic, bio-degradable, and bio-based products to drive the industry growth
Lactic Acid Market revenue is anticipated to observe a considerable growth over the coming seven years, driven by its extensive application in food & beverages, personal care, industrial, cosmetic, detergent, and pharmaceuticals sectors. Moreover, growing consumer preference for bio-based contents is expected to stimulate the market trends in the near future. According to Global Market Insights, Inc., “Lactic acid industry size is expected to be worth USD 6.2 billion by 2024.”
U.S. Polylactic Acid (PLA) Market size, by application, 2013-2024 (USD Million)
Polylactic Acid (PLA) market size is anticipated to witness a lucrative roadmap over the period of 2016-2024, owing to the rising consumer trend towards sustainable, recyclable, and green packaged products. Moreover, growing application of polylactic acid in the booming bioplastics industry along with government legislations favoring the use of bio-based products will further drive PLA industry size over the coming years. Furthermore, polylactic acid also finds wide applications in electronics, packaging, textiles, agriculture, and transport sectors. As per Global Market Insights, Inc., “Polylactic Acid (PLA) Industry size is projected to reach USD 4.3 billion by 2024.”
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Taking into account the lactic acid application trends, lactic acid market size in the personal care sector is expected to grow at a significant rate over the timeframe, driven by its use in skin care, natural anti-aging, and anti-acne solutions. Its application in food & beverages sector will grow at a rate of 14% over the coming seven years. The growth can be credited to its emulsifying, antibacterial, acidulant, pH regulating, and flavoring characteristics.
As per the research study, PLA applications in the packaging sector, estimated at USD 300 million in 2015, are expected to grow noticeably over the coming seven years due to its use in jars, containers, bioplastic packaging, and food packaging. Furthermore, textile is yet another prominent application area, predicted to generate high growth opportunities for polylactic acid industry over the coming years. As per the research study, textile application is likely to grow at a rate of 19% over the timeframe, driven by the use of PLA in textile dyeing for biodegradable polymer production.
Geographically, Germany lactic acid industry is expected to generate high sales over the next few years, driven by the rise in number of manufacturing plants coupled with increasing emphasis on sustainability. Growing application of lactic acid to treat dry skin along with its use in metal formulations is expected to boost U.S. lactic acid industry growth in the pharmaceutical sector over the coming years. China personal care industry is expected to contribute significantly towards the market share over the coming timeframe. Lactic acid application as vital ingredient in the personal care products & antimicrobial cleaning along with growing consumer awareness towards the personal care item is expected to drive the regional growth.
France PLA market will experience a considerable surge over the period of 2016-2024, driven by favorable legislations coupled with penetration of bio-based products in the packaging sector. Increase in production capacity, abundant feedstock, and growing customer awareness is expected to drive Japan market revenue over the next few years. UK PLA market size in agriculture sector is expected to register significant gains at 15% over the coming seven years, owing to its ability to reduce soil compaction and improve moisture control.
Key industry players in lactic acid market include BioAmber Inc., DuPont, and Genomatica. Major market players in PLA industry include Pyramid Bioplastics, Danimer Scientific LLC, Synbra Technology BV, BASF, Futerro, Galactic, NatureWorks, and Musashino Chemical Laboratory.
Author Name : Dhananjay Punekar
Global Market Insights Inc. 