Global semiconductor memory market to procure returns over USD 730 billion by 2024, India to emerge as a highly viable growth ground
The rising demand for enhanced storage memory in consumer electronics for extensive data management is likely to drive semiconductor memory market growth in the years to come. Lately, the demand for advanced semiconductor memory has travelled beyond the realm of the traditional personal computer. The requirement of electronic systems including digital consumer electronics, mobile communications, networking, automotive electronics, and industrial/medical electronics has seemingly surged in recent years, subsequently increasing the need for semiconductors.
China semiconductor memory market, by type, 2017 & 2024 (USD Million)
As a matter of fact, all digital consumer electronic products incorporate highly advanced semiconductor memory devices to enable and enhance system storage and performance. Semiconductors are consequently growing in importance as they offer industries with new manufacturing opportunities to develop highly efficient products for customers. The need for high-speed interconnects continues to accelerate and is driving the architecture of next-gen memory technologies. As a result, memory devices and architectures are changing rapidly to satisfy the demand for higher performance electronics, further driving the semiconductor memory market growth.
Android smartphones to offer remarkable growth opportunities to the semiconductor memory market players
Smartphones have reportedly become the preferred computing device for a variety of applications. Reports suggest that over 70% of the world’s population is anticipated to use smartphones by 2020, while over a billion Android devices will be used by the same year. For several Android smartphones, varying the flash storage drastically improves the device’s overall performance, typically between 100% to 300% across applications.
Storage performance on mobile devices will enhance the end-user experience in the years to come, as its impact is expected to grow owing to emerging wireless technologies that offer much higher network throughput as well as the advent of faster networks and I/O interconnects. This considerably validates the fact that the rising number of smartphones is expected to help drive the remuneration potential of the semiconductor memory market.
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Will India emerge to be a potential investment ground for stakeholder over 2018-2024?
The India semiconductor memory market is anticipated to procure substantial proceeds by the end of the projected timeframe owing to the rising proportion of smartphone users and emerging consumer electronic companies. The region has a steady growth infrastructure and develops emerging embedded technology that offers both hardware and firmware solutions.
The country also depicts considerable growth prospects for the automotive, agriculture, pharmaceutical, IT, construction and defense sectors. The growing adoption of IoT in these sectors will further enhance the demand for semiconductor memory, thereby impelling the regional industry trends. Emerging smartphone applications and the escalating demand for storage memory will also foster industries to develop enhanced memory solutions, expediting the India semiconductor memory industry share.
Some of the key players in the semiconductor memory market include Samsung Electronics, Nvidia, On Semiconductor, Micron Technology, Inc., etc. Manufacturers are focused on product development by investing in R&D activities & engineering capabilities to cater to the needs of mobile industry customers. To stabilize the component pricing, companies are reportedly developing strategies to maintain the average prices of ROM and RAM products. Manufacturers in the semiconductor memory market are also likely to face challenges in the future owing to the emergence of replacements such as MRAM, ReRAM and phase change memory.
As semiconductor memory technology rapidly evolves to meet the ever-growing needs of the electronics industry, it is likely to experience high demand from end-use industries including electronics and automotive. Increased demand and the rapid evolution of smartphones and PCs across the globe will continue to impact the product requirement, on the grounds of which manufacturers will constantly seek ways to expand their production facilities and know-how. This could considerably impact the remuneration portfolio of the overall semiconductor memory market, slated to cross a mammoth USD 730 billion by 2024.
Author Name : Mateen Dalal
Global strontium market to derive exceptional proceeds from medical & dental applications over 2018-2025, APAC to emerge as a crucial revenue pocket
Owing to a widespread application portfolio along with the increase in pyrotechnic activities, the global strontium market has been observing a remarkable growth over the last few years. Numerous research studies have revealed that strontium plays a crucial role in keeping bones healthy. It slows the rate of bone loss, assists in calcium absorption, prevents bone pain, helps in restoring alkaline state, enhances resistance to fracture, regulates bone breakdown, and boosts bone formation. Natural strontium has proved to be helpful in relieving the bone pain in patients with metastatic bone cancer, as per reliable sources.
U.S. Strontium Market Size, By Application, 2014 – 2025 (USD Million)
It has also been found that supplementation with strontium deposits the mineral in the bone lesions, essentially suggesting a possibility of utilizing the element to mineralize areas in which cancer-associated bone loss has occurred. Owing to all the superior properties and benefits mentioned above, strontium is being widely used in medical and dental applications in the recent times. In fact, as per the research report by Global Market Insights, Inc., the medical and dental application segment is slated to account for nearly a tenth of the overall revenue share of the global strontium industry by the end of 2025.
Speaking along similar lines, several biotech and pharmaceutical majors have focused on developing products fortified with strontium chloride to mitigate cancer bone pain in patients suffering from painful skeletal metastases. The biotechnology acceleration development firm Q BioMed Inc., for instance, recently filed a supplemental regulatory application with the U.S. FDA to receive the approval to construct its new production unit, which would develop non-opioid injectable named Strontium Chloride Sr89 Injection USP.
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For the record, FDA has already approved the drug which reduces bone pain in patients suffering from bone metastases. The survival rates of patients with prostate and breast cancers, which are at high risk of developing bone metastases, would witness an uptick owing to the development of superior drugs and injectables such as Strontium Chloride Sr89 Injection USP. This would, in turn, fortify the medical and dental applications segment of the strontium industry in the upcoming years.
Increasing usage of strontium in pyrotechnic across the APAC nations set to boost the valuation of global strontium industry
The increasing usage of firecrackers on festive occasions in Asian nations such as China and India have resulted in strong demand for pyrotechnic operations in this region. In this regard, it would be prudent to mention that the colors of most modern fireworks involve metal chlorides – one of the most prominent being strontium chloride. These pyrotechnic operations are majorly deployed in several entertainment activities along the likes of sports events, concerts, and various ceremonies, essentially boosting the Asia Pacific strontium industry share which is estimated to register an annual growth rate of 6.5 percent over the projected time frame.
While the growth in pyrotechnic activities is on the rise, the usage of synthetic strontium is likely to decrease as stringent government regulations are being implemented to curb pollution across several nations. Moreover, steps are being taken by prominent research organizations to develop eco-friendly firecrackers (devoid of strontium nitrate) to reduce air and noise pollution.
In this context, it would be imperative to take note of the less polluting firecrackers recently developed by CSIR, the premier national R&D organization of India. Needless to mention, the development of green crackers, e-crackers and less polluting firecrackers would diminish the demand for strontium for pyrotechnic activities, essentially limiting the growth prospects of strontium industry in the times to come.
Companies such as Chemalloy Co, NOAH Technologies Corporation, Shenzhou Jiaxin Chemical Co., Prochem Inc., Joyieng Chemical Limited, Canteras Industriales, Química del Estroncio, BassTech International, Solvay, and Sakai Chemical Industry Co., constitute the competitive landscape of strontium market. Driven by strong growth in medical and dental applications segment along with the increasing usage of strontium in pyrotechnic activities, the strontium industry is set to garner substantial proceeds in the years ahead.
Author Name : Saif Ali Bepari
Inventory management software market valuation to cross USD 3 billion by 2024, retail sector to dominate the end-use landscape
With the tremendous growth in the industrial, retail, and e-commerce sectors, inventory management software market has gained massive impetus over the past years. Quite undeniably, managing and tracking inventory has become an essential part of conducting business and inventory management software in this regard are efficiently solving the challenges related to vendors, inventory, orders, sale, stocks-outs and much more. This has significantly led to rapid adoption of these software programs, in turn driving inventory management software market growth which was pegged at USD 2 billion in 2017.
North America Inventory Management Software Market Share, By Type, 2017 & 2024 (USD Million)
The vast expanse of omnichannel retailing and increasing penetration of smartphones have also been identified as the inherent factors impacting the revenue graph of the global inventory management software industry. If reports are to be believed, given the increasing rate of paperwork errors, supplier fraud, employee theft, and shoplifting activities SMEs, SMBs, and the retail sector are the prominent end-use segments that are rapidly adopting inventory management software systems. These activities have also been deemed as the major sources of inventory shrinkage and are therefore favoring effective implementation of IMS programs in the retail sector, which is expected to dominate the overall inventory management software industry by accounting for a 40% share over 2018-2024. It is important to mention that according to the National Retail Federation’s NRSS (National Retail Security Survey) on retail theft, the retailers globally incurred inventory shrinkage losses of over USD 49 billion in 2016.
Driven by these subsequent threats leading to inefficient inventory management, the demand for robust inventory management software for optimization is expected to increase consistently in the ensuing years. In fact, as per estimates, the global inventory management software market from inventory optimization application is expected to grow at a lucrative rate of 9% over 2018-2024.
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The contribution of the industry participants in developing optimal inventory management systems is vast and these players are constantly looking for adopting new technologies that can improve the overall productivity. Recently for instance, HighJump, a global provider of supply chain solutions and renowned inventory management software market player has introduced HighJump Warehouse Control System integrated with the HighJump Warehouse Management System. This inventory management solution provides supply chain professionals with a comprehensive suite that can fully capitalize on the automated and connected warehouse operations the modern-day chain professionals are adapting to handle shorter delivery windows, e-commerce, and enhanced consumer expectations.
With such globally reputed players working toward introducing more technologically upgraded and value added solutions, inventory management software industry share is expected to nothing but proliferate in the ensuing years. Further endowed with the integration of recent technologies such as automation, big data analytics, RFID, cloud, Artificial Intelligence, and IoT this business sphere has become a lucrative hub for investments. Leveraging these technologies for more insightful solutions in inventory management, several industry participants are providing real-time analytics solutions and improved connectivity to supply chain and inventory management professionals. For instance, using connected networks such as computers, sensors, and smartphones, IoT can transfer the product information with the help of RFID tags/barcodes and transmit the data to the cloud-based inventory management software.
Such technological integration techniques are typically used by the large-scale organizations that move thousands of orders daily. Reports state that the barcode scanning system held more than one half of the inventory management software market share in 2017, while the RFID segment is projected to register an impressive CAGR of over 11% over 2018-2024.
Quite undeniably, these technologies have empowered the small and large-scale enterprises to grow and streamline their business models by harnessing the power of the advanced inventory solutions, in turn propelling the global inventory management software industry outlook. Lastly, it wouldn’t be wrong to say that along with shrinking workforce and increasing rate of stressed logistics systems, inventory management software programs will witness massive adoption in the ensuing years. A presumption shedding light on the same is of Global Market Insights, Inc., that forecasts the overall inventory management software market share to register a CAGR of 6% over 2018-2024.
Author Name : Ojaswita Kutepatil
APAC Recycled Elastomers market to amass tremendous remuneration from infrastructure development, agricultural applications to enhance the industry outlook over 2018-2025
Increased utilization of recycled materials by manufacturing and infrastructure segments has boosted the global recycled elastomers market, enabling the formation of low-cost and good quality composite products. High elastic deformation combined with exceptional vibration and noise dampening properties have created a wide application base for these materials for improving work environments and transportation networks. Growing awareness among producers around the world for undertaking eco-friendly waste disposal initiatives to reduce pollution caused by landfills has invariably promoted the recycled elastomers industry. Consumers, wanting to ensure that they contribute towards saving the environment, are increasingly accepting and demanding products which incorporate recycled ingredients. Subsequent rise in recycling activities of waste like tires and other rubber products to make building composites, agricultural sheds, artificial playgrounds and auto parts has tremendously propagated the recycled elastomers market, which in 2017 garnered a global revenue of over USD 2.5 billion.
U.S. Recycled Elastomers Market Size, By Application, 2014 – 2025 (USD Million)
Several durable products using recycled elastomers are manufactured depending on the properties most suitable for a particular use in any of the industry segments, such as chemical resistant gloves or athletic turfs for sporting events. In terms of large-scale applications that benefit a varied demographic over time, transport infrastructure has sprouted to become a leading source of revenue for the recycled elastomers market. As compared to traditional paving materials, modified asphalt mixed with recycled rubber allows for a high performance solution to extend the lifespan of roads and highways. Asphalt binding with recycled elastomers, mostly sourced from scrapped tires, provide a safer, eco-friendlier and less expensive alternative. The excellent elasticity and dampening features of such asphalt help to reduce the occurrence of surface cracking, temperature fluctuations and movement caused by traffic loads. The lowering of waste by recycling scrap tires, along with a continuous and reliable raw material supply have strengthened the recycled elastomers market stance within the infrastructure segment.
The Asia-Pacific (APAC) is known to be a rapidly developing region with countries like China, India, Malaysia and Indonesia showing remarkable progress in infrastructure spending. In China, for instance, the total road length increased from 3.7 million kilometers in 2008 to 4.8 million kilometers by the end of 2017, while the total length of highway reached a figure of 136,500 km during the same period. The large transportation infrastructure indicates the growth potential of the recycled elastomers market from asphalt binders. As the population and consequent automobile consumption in APAC countries is expected to rise at an incredible pace, a surge in government expenses to develop road connectivity will further encourage recycling initiatives, fueled by an incessant supply of waste rubber materials. It is observed that building a single lane pavement of one mile, 500 to 2,000 scrap tires need to be recycled, presenting the advantage of the recycled elastomers industry in cutting down on land pollution.
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Use of recycled elastomers in manufacturing agricultural equipment and flooring has additionally maintained the dominance of APAC in the recycled elastomers market, holding over 50% of the global share in 2017. The region encompasses some of world’s leading agri-based developing nations that need constant supply of food and livestock products to cater to an exponentiating population, creating a demand for weather resistant products that support agriculture productivity. For example, India is the second most populated country in the world and as of 2015 had approx. 60.4% of overall land under agricultural occupation. Advancing technologies associated with increasing the crop output have been buoyed by robust water hoses, belts, sheds, windbreaks and vegetation protecting equipment made from recycled elastomers.
The recycled elastomers market has experienced prolific returns from the demand for livestock mats as well, derived from the fact that APAC has major dairy and meat producing nations. Stalls and floors housing livestock need to be able to counter weather abuse and seasonal wear, requiring them to be built of durable and flexible materials. Agricultural mats made using recycled elastomers offer a mix of strength and softness that is necessary for safe sheltering of livestock animals, ensuring an up thrust in the total yield. With agricultural income forming a significant part of GDP in China, India, Thailand and other South East Asian countries, the recycled elastomers industry is deemed to witness enormous proceeds from the agriculture segment.
All in all, use in infrastructure and agricultural areas due to vital properties like elasticity, durability, UV and chemical resistance, among others have propelled the recycled elastomers industry, with American Tire Recycling, GRP Ltd., West Coast Rubber Recycling, Liberty Tire Recycling, Genan Holding, J. Allcock & Sons Limited, Klean Industries and Emanuel Tire Co. being some key market contenders. Additional applications such as developing medical devices in combination with FDA approved raw materials will generate supplementary earnings for the global recycled elastomers market, anticipated to register a CAGR of more than 12% from 2018 to 2025.
Author Name : Pankaj Singh
Polyglycolic acid market to witness phenomenal proceeds in the U.S., shale gas extraction to drive the regional trends
Being one of the biggest beneficiaries of the developments in tissue bioengineering, polyglycolic acid market has garnered hefty proceeds in the medical sector. In fact, as per reliable estimates, the medical fraternity contributed to more than 60% of the overall polyglycolic acid market size in 2016. Widespread adoption of absorbable sutures has been a chief driver of the increasing demand for PGA from this sector. Reportedly, the global surgical suture market is already a billion-dollar space and is anticipated to witness remarkable growth in the ensuing years.
U.S. polyglycolic acid market size, by application, 2013 – 2024 (USD Billion)
Elaborating further on the application arena of polyglycolic from medical space, tissue engineering, biodegradable bone graft polymers, transplantation procedures, cell culture, etc. are some of the renowned opportunistic areas generating a massive demand for PGA. Due to the biodegradable properties of PGA, it has been categorized as one of the most widely used biodegradable bone graft polymers. For the records, the global biodegradable bone graft polymers market is projected to witness a CAGR of 7.5% over 2017-2024.
Tissue engineering is also anticipated to provide a remarkable impetus to PGA market share, on grounds of the material being recognized as an outstanding support for tissue development. Speaking along similar lines, fiber form of PGA has been prominently used in the medical applications over the recent years, having held 40% of the overall polyglycolic market landscape in 2016.
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However, despite the medical applications holding a major chunk of polyglycolic industry size, the contributions of shale gas extraction and packaging domains has also been commendable. PGA has been widely adopted in shale gas extraction driven by its operational efficiency and cost reduction capabilities. In fact, as per a report by Global Market Insights, Inc. this sector is estimated to be catalogued as the fastest growing application of PGA market, with a target CAGR of 8% over 2017-2024.
In terms of geographical standards, North America stood as one of the biggest recipients of this application growth and led the overall PGA market in 2016. For the records, North America procured 60% of polyglycolic acid industry size in 2016, with U.S. as a chief revenue pocket. Allegedly, the United States, driven by its recorded shale gas production, has been classified as a prominent facilitator of the global energy change. As per the U.S. EIA, the country’s natural gas consumption is estimated to reach 31.6 TcF by 2040. 56% of this growth is believed to be driven by upward development in shale gas production.
Europe is also forecast to stand tall in the regional hierarchy with an estimated annual growth rate of 8% over 2017-2024. The regional growth can be credited to the food packaging applications, which is predominantly focusing on recyclable and biodegradable solutions. Citing a relevant instance, RefuCoat, the EU-funded project, recently created quite a buzz in the regional polymer market landscape. Reportedly, the project aims at deploying high-performance coatings to develop completely recyclable food packaging endorsed with improved functionalities and gas barrier properties. The move will provide a significant push to the Europe polyglycolic acid market trends, on grounds of the aforementioned hybrid coating comprising PGA and modified silica oxide as the key materials.
In this context, it is imperative to mention that the packaging applications have also been a prominent driver of global PGA industry trends, driven by the product’s excellent biodegradability and flexural strength. PGA has seen a remarkable rise in its demand curve with its proven benefits over conventional plastics. As per estimates, 30% of the PGA industry application landscape was procured by packaging sector in 2016. Film form of PGA has been extensively used in packaging applications and is estimated to record a CAGR of 8.5% over 2017-2024.
All in all, the profitability matrix of PGA market is projected to remain high with the sustainability and biodegradability trends becoming mainstream. The competitive landscape is likely to be monopolistic, synonymous to that in 2016, with Kureha Corporation as the leading player. In terms of commercialization potential, global polyglycolic acid market is slated to surpass a revenue of USD 9 billion by 2024.
Author Name : Shikha Sinha
A brief outline of sodium acetate market: substantial product demand from food processing sector to drive global industry growth over 2017-2024
In the recent times, sodium acetate market has witnessed a rather lucrative commercialization prospects owing to its extensive application across numerous business verticals including food processing, leather and textile, and pharmaceuticals. Prominently utilized as a food preservative, sodium acetate has further found widespread usage as a neutralizing agent, diuretic agent, and buffering & pickling agent across various end-use domains – a factor that has contributed significantly toward sodium acetate industry share augmentation. Moreover, rapid industrialization and enormous FDI investment in emerging nations across the globe has spurred the growth potential of the aforementioned industry verticals, which has, in turn, driven the sodium acetate market size expansion.
U.S. Sodium Acetate Market Size, by Product, 2013 – 2024 (USD Million)
Food processing sector to emerge as a prominent end-user of sodium acetate industry
Owing to its excellent food preservation qualities, sodium acetate has been increasingly preferred by food processing industry over the past decade, which has proved to be quite beneficial for the overall sodium acetate market. The widescale applicability of this chemical can be attributed to the massive rise in the consumption of canned food items subject to fast-paced lifestyles and a drastic variation in dietary habits across developed and developing countries. This has, in consequence, provided a significant boost to the growth potential of sodium acetate industry. Apparently, sodium acetate is being utilized as an acid regulator to prevent the growth of harmful bacteria in canned meat, vegetables, and fruit. Furthermore, it would be prudent to mention that the addition of sodium acetate during the canning and drying procedures not only desists bacterial growth but also extends the shelf life of the product.
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Concurrently, sodium acetate market has found a major foothold in the global dairy sector, as the chemical is being utilized as an emulsifier and preservative in numerous dairy products. Apart from being widely used in condensed milk, sour cream, buttermilk, whey-based yogurts and drinks, sodium acetate has emerged as a preferred preservative in cheese preparations such as processed cheese, ripened cheese, cheese analogues, and processed cheese. In view of the rapid advancement of the global dairy sector, the growing prominence of sodium acetate as a preservative in the overall dairy industry is likely to impel the sodium acetate market size expansion.
Thus, the rising significance of sodium acetate in the global food processing sector can be validated from the aforementioned declarations. In fact, as per the research report compiled by Global Market Insights, Inc., food processing vertical accounted for more than USD 26 million of the revenue share of the total sodium acetate industry size in the year 2016.
The Asia Pacific region has indeed established itself as a profitable growth terrain for sodium acetate market stakeholders, as the expansion of numerous end-use verticals in this region has been much more pronounced when compared to other developing economies. For instance, sodium acetate is regarded as one of the most popular preservatives in Japan with the total demand for the chemical, as per reliable sources, being a humongous 3,500 tonnes. Apparently, such statistics demonstrate the necessity of sodium acetate across various verticals in the Asia Pacific region. For the record, Asia Pacific sodium acetate industry is estimated to have apportioned more than 55% of the total revenue share of this business space in 2016.
Elaborating further, it is quite imperative to mention that this multimillion-dollar business sphere is set to exhibit robust growth rate over the forthcoming years owing to the humongous deployment potential of sodium acetate – right from modest domestic uses to intricate chemical and industrial applications. In addition to this, the leading sodium acetate industry participants have been investing massively in vital research and development activities to strengthen their position in this swiftly emerging bulk and specialty chemicals vertical. Apparently, considering the aforementioned aspects, it quite undeniable that the sodium acetate market growth prospects appear to be substantially profitable in the ensuing years, with a target revenue of USD 220 million by 2024.
Author Name : Saif Ali Bepari
PESU-based sulfone polymers market to amass substantial proceeds over 2017-2024, global industry to surpass the 2-billion-dollar benchmark by 2024
Sulfone polymers market size has been forecast to be fueled by the product’s diverse utilization range in various end-use domains, mainly because of the combination of its characteristics that make it highly heat resistant, mechanically tough, resilient to hydrolysis and transparent in high temperatures. Sulfone polymers find widespread usage across the automotive and aerospace industries, that require the application of thermally stable and light weight but tough plastic components. The growth of sulfone polymers industry can also be attributed to the product’s demand from the medical sector, owing to the fact that various polymers including polysulfone (PSU) and polyphenylsulphone (PPSU) have found varied usage in healthcare. It is noteworthy to mention that polyethersulfone (PESU) has contributed greatly to the growth of the sulfone polymers market in the pharmaceutical and biotechnology sectors, as it is a basic ingredient for filtration membranes.
Europe Sulfone Polymers Market Size, 2013 – 2024 (USD Million)
The aerospace and automotive sectors, in recent times, have been moving away from using metals and leaning towards using engineering plastics to reduce weight and increase the fuel efficiency of aircrafts and vehicles. Sulfone polymers are widely used in these industries to manufacture vehicle and aircraft components that are highly creep resistant, register low mold shrinkage and remain stable at high temperatures. Automotive industry has a considerably huge share in the sulfone polymers market registering a CAGR close to 6% over 2017-2024. The application of sulfone polymers in aerospace industry has also been on a rise, as the demand for light but highly heat resistant material used to manufacture aircraft radomes, connectors and terminal blocks has been increasing lately. In consequence, this would have a commendable impact on sulfone polymers market share from the aerospace sector.
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The field of medicine has been revolutionized by the use of engineering plastics, making patients’ lives safer and bringing about a dynamic change in the development of innovative medical devices, which in the years ahead, will commendably influence sulfone polymers industry share. In terms of volume, the medical field has made rather appreciable contributions toward the growth of sulfone polymers market, as plastics made of sulfone polymer have helped reduce medical costs, simplified pain management and prevented infections.
Among various sulfone polymers, polyethersulfone (PESU) has been forecast to register the fastest growth in sulfone polymers industry, given its numerous applications across myriad verticals. Polyethersulfone has gained popularity in sulfone polymers market for its specific features such as light weight, low smoke emission and high impact resistance. When reinforced with glass fiber, it creates a composite that exhibits high tensile elasticity and strength, while otherwise, the product is also used to manufacture filtration membranes that can be used to remove salmonella, mycoplasma and mammalian cells from liquids. Its widespread application spectrum has thus led analysts to forecast that polyethersulfone-based sulfone polymers industry share will register a CAGR of 6% over 2017-2024. Sulfone polymers have proven to be the most apt choice for the manufacturing of filtration membranes as they have excellent biocompatibility, outstanding hydrolytic stability and impressive mechanical properties. The deployment of sulfone membranes has found widespread usage in food processing, water treatment and gas separation as well, providing sulfone polymers industry with the much-needed stimulus.
Asia Pacific has been projected to witness the fastest growth in sulfone polymers market over the forthcoming seven years, driven by the growing automotive and aerospace industries in the emerging economies of China and India. The multibillion-dollar sulfone polymers market firm, Solvay has recently invested heavily in India to expand its plant capacity at Panoli. Solvay alone has projected the increase of its global sulfone polymer production by 35% in the next 5 years, with significant investments in Asia and USA. Speaking of which, North America accounts for a major share in the production of leading medical instruments and automobiles. Driven by the demand for high performance engineering plastic in these industries, North America sulfone polymers market will witness a CAGR of 6.2% over 2017-2024.
Sulfone polymers market has taken a hit in the food and medical industry, as these products are derived from a combination of Bisphenol A (BPA) and disphenol. Scientific studies have shown that consumption of BPA has been deemed harmful to human lives and the environment. Therefore, some countries around the world have banned the use of polycarbonates in baby bottles. However, the FDA, CDC and WHO have all confirmed that low levels of BPA contamination is inconsequential to the human body, which may contribute toward eliminating some of the restraints in sulfone polymers market. The concern about BPA may affect consumer opinion about the presence of sulfone polymers in food containers and can liners. However, sulfone polymers market as an entity will remain unaffected and will continue to grow despite government regulations, as chemically stable and light weight engineering plastics obtained from sulfone polymers have been used to great advantage in the aerospace, medical, biotechnical and automotive industries.
Author Name : Paroma Bhattacharya