Chemicals

Fluorinated ethylene propylene market to garner appreciable valuation from tube sales over 2019-2025, chemical processing industry to drive the application landscape

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The global fluorinated ethylene propylene market is slated to experience immense growth prospects in the coming years owing to the product’s extensive use across the automotive, electronics, food & beverage, and medical industries. In the automotive sector, FEPs are widely used in compact and small-sized cars, in the tubing, bellows, and pressure hoses. The increasing shift among car buyers from sedans to more compact cars, especially in emerging economies will thus propel the growth of FEP industry.

U.S. Granules Fluorinated Ethylene Propylene (FEP) Market Size, 2018 & 2025, (Kilo Tons)

Fluorinated Ethylene Propylene Market

Small cars are also the most affordable vehicles to get on to the road and are easy to park as they don’t take up much space. For a middle-class family in emerging nations, a compact car facilitates savings since they are more fuel-efficient compared to sedans and SUVs. Hatchbacks also serve as the best option, in terms of passenger and driver safety with advanced collision control at affordable prices. In 2018, car manufacturers in India invested heavily on small cars to enhance sales records in smaller parts of the country.

For instance, Hyundai, relaunched its most loved hatchback Santro to appeal to Tier 1 and 2 cities where per capita vehicle ownership is still significantly small. Therefore, increasing demand for small vehicles from emerging and low-to-middle income nations will boost the global FEP market outlook.

Growing product demand for automotive ball bearings, paints, and adhesives, and sealants from the construction sector will also help the global FEP market gain traction in the coming years. Latest data from The Bureau of Labor Statistics and Timetric’s Construction Intelligence Center, estimates the construction industry to grow at a modest rate over the next several years. Industry professionals further predict one of the largest increase in real output for the construction space, with the business hitting the trillion-dollar remuneration space by 2020. This would remarkably surge the need for adhesives and sealants, driving FEP industry share.

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Construction of residential housing will witness growth in the years to come owing to the rising population in the United States. Government spending to support homeownership, housing developments and a sustainable community in a bid to provide access to affordable housing will further increase the demand for construction projects. The development in the construction industry will massively boost the demand for paints, adhesives, and sealants, which will eventually drive the fluorinated ethylene propylene market in the coming years.

Fluorinated ethylene propylene tubing is a robust engineering fluoropolymer which offers excellent fluid visibility, low-temperature resistance, and low coefficient of friction and is perfect for flow control monitoring. Hence, the product finds significant use in chemical processing applications as well as the petroleum and oil & gas industry.

For instance, the Indian government has come out with new policy reforms, which makes drastic changes in the country’s Hydrocarbon Exploration Licensing Policy and the Open Acreage Licensing Policy in a bid to garner more domestic and foreign investment for exploration of oil and gas, which if successfully implemented could drive the demand for FEP tubes. According to a report by Global Market Insights, Inc., FEP tubes market from chemical processing application is estimated to register more than 6% over 2019-2025.

These materials are also commonly used in solar panel applications. Fluorinated ethylene propylene films serve as the perfect protective front sheet for solar panels due to their smooth, flexible and light-weight features. The material also makes sheets stronger, thereby improving the durability and life span of solar panels, while enhancing its looks as compared to traditional glass. The adoption of these glasses will be fueled by growing energy consumption and issues concerning energy-efficiency.

Increasing efforts to generate energy from renewable sources, stringent government regulations and the benefits pertaining to efficient energy use and affordability of solar panels will further propel the solar power industry. Recently, in an effort to become America’s leading rooftop solar company, automotive and energy giant Tesla, slashed prices of solar panels. Such moves will accelerate the adoption of solar energy, which will boost the demand for FEP films, thereby driving the global FEP market growth over 2019-2025.

Fluorinated ethylene propylene will continue to attract huge demand from numerous industries owing to its vast benefits. According to Global Market Insights, Inc., the fluorinated ethylene propylene market valuation is anticipated to reach $1.2 billion by 2025.

Author NameKrithika Krishnan

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Dipentene market to garner commendable profits from the personal care and F&B industries, APAC to emerge as a lucrative investment ground

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With the increased popularity of the attractive fragrance of citrus fruits, especially oranges in personal care products, dipentene market has registered considerable expansion lately. Dipentene or limonene is the colorless liquid hydrocarbon that adds the distinct citric flavor and fragrance in many processed foods, beverages and cosmetic formulations of hygiene and personal care products. Owing to the versatile characteristics of limonene, dipentene market is expected to cater to a widespread range of applications – indeed, the product even finds deployment as an alternative to mainstream pesticides.

U.S. Dipentene Market Size, By End-user, 2013 – 2024 (USD Million)
U.S. Dipentene Market Size, By End-user, 2013 - 2024 (USD Million)

Limonene market has also been expanding rapidly on the grounds of the fact that the product is an alternate solvent to replace petroleum-based ones in several industrial applications such as paints and coatings where VOC emission and low biodegradability of solvents has become a major cause of concern for the wellbeing of the planet.

Global cosmetics and personal care industry statistics clearly point out that the said industry has been earning record revenue as beauty and self-care to preserve a youthful appearance is becoming one of the chief concerns for consumers all over the world. International beauty product companies that offer superior quality products as compared to local products have gained a commendable portion of the cosmetics and personal care industry in emerging nations as income levels of such nations continue to rise. Since limonene is expansively used in beauty products to add a freshening citrus odor, dipentene market is expected to garner major profits in Asia Pacific where the cosmetic market size is projected to surpass USD 126 billion by 2020 and where multinational companies are rapidly establishing a significant foothold. In fact, Asia Pacific has been forecast to be the fastest growing region in the limonene market over 2018-2024.

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It will be prudent to mention here that dipentene, due to its colorless constitution and fresh, natural fragrance is used in various health care and cosmetic products like suntan products, bath products, cleansers, aftershave lotions, bubble baths, eye shadows, haircare products, lipsticks, perfumes, moisturizers and shampoos.

Rising levels of income is playing a subtler role in the growth of the limonene market as with more disposable income, consumers are opting for more effective ingredients in their products rather than cheaper ones. Manufacturers are therefore touting their products for greater efficiency rather than competitively pricing them which is adding to the enhanced inflow of revenue into the dipentene market. Diversification of distribution channels for cosmetic brands such as online shopping, vending machines, television infomercials, spas and home shopping are adding impetus to cosmetics market and consequently boosting growth of limonene industry.

Dipentene market will diversify its growth avenues beyond the cosmetic industry as research has found that chemicals obtained from orange peel could be utilized as a means of breaking the modern world’s reliance on crude oil by being the building blocks in products ranging from plastics to paracetamol. Due to various adverse environmental effects, global industries had been trying to cut down on their dependence on the chemicals and materials that are obtained from fossil fuels, which are rapidly diminishing. As the world is increasing its focus on the development of renewable chemicals from an assortment of sustainable resources such as sugarcane and fatty acids in the production of biofuels, essential oils obtained from waste citrus peels have rapidly come to the forefront as a source that is being investigated with real zest as limonene shares many similarities with the chemicals obtained from fossil fuels.

Though limonene has been recognized as an important component of a bio-based chemical industry it will take the limonene industry considerable time to become a fully commercial means of plastics or polymer production. Issues hindering limonene market include the lack of reliable and greener supply of limonene. As research and development programs exert appreciable focus in bringing petroleum alternatives to the market, it is expected that dipentene industry will massively profit from such endeavors.

Author NameParoma Bhattacharya

APAC barge transportation market to acquire substantial returns by 2024, rising demand for petroleum products in the region to drive the industry expansion

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Barge transportation market has indeed gained a velocity in the past few years, and is in the midst of experiencing a profound commercialization portfolio, primarily driven by the escalating crude petrochemical shipments across the world. In this regard, it is important to note that U.S. and Japan are the two major economies where crude oil demand is significantly high, which quite aptly translates the profitability quotient of the barge transportation market in these regions. In fact, Asia Pacific is forecast to procure a significant portion of the overall industry, with a massive revenue collection by the end of 2024. However, North America is also slated to emerge as a crucial regional barge transportation market, on account of the rising shale oil production.

U.S. Barge Transportation Market, By Product, 2013-2024, (USD Million)

U.S. Barge Transportation Market, By Product, 2013-2024, (USD Million)

Global barge transportation industry, estimated by Global Market Insights, Inc., is claimed to surpass USD 170 billion by the end of 2024. Growing investments in fleet modernization and increment in the barge number has substantially driven the market dynamics over the years.  For instance, Kirby Corporation, one of the renowned barge transportation market giants, had spent almost USD 135 million in 2014 for the construction of 66 new island barges. Mergers and acquisitions is another strategy that the industry participants are readily adopting to consolidate their business position in the competitive space.

The yesteryear acquisition of SEACOR Holdings’ inland fleet by Kirby Corporation from subsidiaries of SEACOR at approximately USD 88 million bears a testimony to the aforementioned fact. Reportedly, the asset purchase will include 13 inland towboats, 27 inland 30,000-barrel tank barges, and one towboat which is presently under construction. Under the agreement, Kirby would transfer SEACOR Holdings the ownership of Florida based ship docking tugboat. On the other hand, SEACOR, through SCF Waxler Marine LLC, would transport petrochemicals, black oil, and refined petroleum products on Gulf Intracoastal Waterway and Mississippi River System. Analysts claim this move by Kirby Corporations to be highly strategic, projecting the company to score a competitive advantage in the global barge transportation industry.

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Some of the other biggies involved in barge transportation market include American Commercial Barge Line, Campbell Transportation, Blessey Marine Services, Canal Barge, PTC Logistics, and Heartland Barge.  The overall industry is restrained by some of the crucial factors such as huge initial cost associated with fleet construction, limitations of international water ways, and climatic conditions. However, leading companies are continuously focusing on overcoming these challenges as much as possible by incorporating technology in the business module. For instance, GPS integration has helped the operators get a clear picture of the climatic conditions and the delivery time.

Outlining Asia Pacific barge transportation industry trends over 2018-2024

Asia Pacific is one of the most lucrative regional markets for barge transportation industry. Indeed, APAC barge transportation industry held USD 34 billion in 2017, accounting for the highest revenue of the market share, primarily driven by the rising foreign exchange and trade activities. Furthermore, the growing number of oil imports from the Middle East and North America will add to the industry growth.

Another factor that will add to the growth of the APAC barge transportation industry is the availability of huge waterways in addition to the escalating vessel freight traffic, especially alongside the coastal areas. As per estimates, Asia Pacific barge transportation market shipments will be 5.5 billion tons by 2024.

Powered by a plethora of unprecedented technological advancements and the escalating demand for petrochemical and agricultural shipments, barge transportation market is expected to chart an appreciable growth in the coming years. Global Market Insights, Inc., anticipates the overall barge transportation market size to register a CAGR of 5% over 2018-2024.

Author Name : Saipriya Iyer