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Body worn insect repellent market to surpass the billion-dollar benchmark by 2024, U.S. to prominently drive the regional landscape

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Over the last few years, body worn insect repellent market has emerged as a lucrative yet challenging investment avenue, against the backdrop where bug-borne diseases has turned out to be a global concern. According to the World Health Organization, Malaria is prevalent across 91 countries worldwide, placing around 40% of the global population at risk. Reports indicate that nearly 500 million populace suffers from Malaria every year, leading to almost 2.7 million casualties annually. It is important to mention that of all the disease transmitting insects, mosquito is claimed to be one of the greatest menaces, spreading catastrophic Malaria, Dengue, Yellow Fever, etc. In fact, Dengue is deemed to be world’s calamitous mosquito borne virus disease, with nearly 2500 million people at risk of infection globally. These statistics depict the increasing pressure on body worn insect repellent market players to come up with state- of-the-art solutions that would somewhat mitigate this afflictive situation.

U.S Body Worn Insect Repellent Oils & Creams Market, 2017 & 2024 (Kilo Tons)
U.S Body Worn Insect Repellent Oils & Creams Market, 2017 & 2024 (Kilo Tons) 

North America is a prominent regional share contender having held almost 30% of the global share in 2017, courtesy – the widespread American and Canadian populace vulnerable to flea borne diseases. According to a latest survey by Centers for Disease Control and Prevention, tick and mosquito borne diseases in U.S. had almost tripled over the period of 2004-2016. For the records, in the year 2004, the country witnessed 27,388 cases of vector borne diseases, while in 2016, the figure reportedly got upscaled to 96,075 cases. The astoundingly mammoth prevalence has undeniably generated a massive demand for advanced insect repellents, substantially impelling the U.S. body worn insect repellent market size.

Regional government has a big role to play in proliferating the industry trends. The U.S. Environmental Protection Agency, for instance, has taken significant initiatives to promote DEET utilization in manufacturing of bug repellent products, especially for those that are sold locally. This in consequence, has created an increased awareness among the Americans regarding insect borne diseases and also about the specific preventive measures that need to be taken to combat the issue. Considering these aforementioned aspects, it would not be incorrect to state that U.S. would continue its dominance in North America body worn insect repellent industry, given that the country boasts of an extensive product array as of now due to the presence of large distribution channel.

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Spreading vector borne diseases such as Dengue, West Nile, Chikungunya, and Malaria ironically are the prime factors fueling body worn insect repellent market demand.  A host of new body worn mosquito control repellants has been widely discussed, tested and put forth in the market over the recent years, however, whether these repellents prove to be fruitful in long term is yet to be determined. The extensive research activities that body worn insect repellent industry is presently characterized by mainly focusses on utilizing more of Lemon Eucalyptus and DEET in various bug repellents products. These days, sprays have become a universal choice among consumers, subject to its ease of application on skin as well as in apparels. Companies have been highly focusing on extending their product landscape along with distribution channel expansion, which in essence is impacting the overall body worn insect repellant industry share.

Grounding on numerous experimental studies, experts have apparently come down to a conclusion that repellent technology represent a fundamental aspect in mosquito borne disease transmission prohibition, which is why body worn insect repellent market is gaining a substantial traction in terms of revenue streams. However, some unhealthy instances such as breathing trouble, skin irritation, and unpleasant odor on its application, somehow act as a stumbling block in the industry growth. Nonetheless, driven by the continuous developments on product front in tandem with a highly supportive regulatory framework, body worn insect repellent industry is set to record a revenue of USD 1 billion by 2024.

Author NameSatarupa De

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Tartaric acid market to exceed a valuation of USD 600 million by 2024, increasing wine consumption to drive the product demand

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Endorsing itself as an intrinsic realm in winemaking process, tartaric acid market stands to gain much over the ensuing years, on virtue of its credential to maintain chemical stability of the wine. This organic acid, in fundamental terms, has been commercialized since ages, however in recent times the business space has garnered an appreciable popularity. As per experts’ opinion, a large credit of this goes to the massive wine consumption across the globe lately. Statistics claim, in 2016, wine consumption worldwide was approximately around 242 million hectoliters, an increment of almost 16 million hectoliters from what it recorded in 2000. In the same year, global tartaric acid market garnered a revenue of USD 450 million-estimates validating the perpetual impact of one on the other.

U.S. Tartaric Acid Market Size, by Type, 2013 – 2024 (USD Million)
U.S. Tartaric Acid Market Size, by Type, 2013 – 2024 (USD Million)

The reason behind U.S. to become the hotbed for tartaric acid market investors is quite obvious – the region’s expanding wine sector. According to a latest report by Wines & Vines, nearly 9,091 wineries were operational in the country in 2017.  The country also pegged the title of fourth largest wine production nation across the world with a production volume of almost 23.9 million hectoliters in 2016. These estimates vividly exhibit the growth scope of regional tartaric acid market from wine applications. In this regard, natural wine has created much of a buzz among the wine lovers on grounds of its health viability.

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As per estimates, overall wine applications witnessed a proportion of authority in global tartaric acid industry share in 2016 and is likely to continue its dominance over 2017-2024. Having said that, it is prudent to mention that potential contenders are leaving no stone unturned to explore the possibilities of this acid on other application verticals as well. In this regard, an anticipated trend of utilizing tartaric acid as an anodizing agent for corrosion protection, has generated quite a momentum in tartaric acid market. Citing a relevant instance, Airbus leading aircraft manufacturer has developed a chrome-free Tartaric Sulphuric Acid Anodizing (TSA) as an alternative to traditional chromic acid anodizing that are used in corrosion resistant process. Reportedly, on ground of its environmental viability, TSA has also received a green signal from REACH.

The utilization of tartaric acid anodizing process, as per experts’ opinion, undoubtedly falls among one of the few disruptive trends that tartaric acid industry has lately witnessed. This is validated by the increasing number of initiatives that are being undertaken along the similar lines. For instance, Aequs and Magellan Aerospace, two of the most renowned aircraft giants, few years back, signed an agreement, in a bid to expand a special TSA unit in India. Dubbed as Aerospace Processing India, this joint venture plant mainly carries out cadmium plating and TSA anodizing process for OEMs in aerospace sector. This project is also considered as a symptomatic evidence depicting the extent by which tartaric acid market penetrated the aerospace sector.

It is imperative to mention that natural tartaric acid is comparatively costlier than its synthetic counterparts. This is deemed to be one of the fundamental factors acting as a stumbling block in tartaric acid industry’s linear growth path. Add to it, with restrictive consumption of synthetic tartaric acid due to stringent regulatory framework, across a plethora of verticals including the likes of pharmaceutical, food & beverage, and wine production, the profit margin further squeezes. However, increasing consumer inclination toward heathy foods and growing commercialization of beverages having fruit flavors, is likely to widen the application opportunities of the business space over the coming years.

Author Name : Satarupa De

Wax market to chronicle itself in the multibillion dollar business space, heavy product demand from the candle manufacturing and cosmetics sectors to stimulate the industry growth over 2017-2024

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The crux of business growth in recent times has been extensively attributed to the vast expanse of R&D programs. Wax market, in this regard, has also been experiencing a transformation, given that as a long-in-existence organic compound, wax has found massive applications in numerous end-use domains. A couple of years ago for instance, a research group from the Colorado State University published a study related to edible superhydrophobic coatings from FDA-approved carnauba and beeswax for the food packaging domain. Traditional wax like beeswax or tallow wax and synthetic wax like paraffin wax have been a part of the wax market landscape since its inception. However, now, with the increasing scarcity of fossil fuels, hydrogenated vegetable wax has also marked its debut in this business space. With the advancement of technology and increasing human endeavor for innovation, wax industry has depicted commendable progress through the product’s varied usage in packing, cosmetics and candle-making industries.

U.S. wax market size, by product, 2013 – 2024 (USD Million)
U.S. wax market size, by product, 2013 - 2024 (USD Million)

The candle-making industry has been one of the major and ancient drivers for wax market. While the traditional usage of candles as a chief source of light after sundown does not really exist anymore, the candle manufacturing sector still remains a multimillion dollar business. Aided by the presence of the internet and social media, the trend of manufacturing decorative and scented candles has taken shape, added a new dimension to the growth of the candle producing domain, which in consequence has impelled wax industry size from candle manufacturing. With the evolution of myriad candle types, candle manufacturing has witnessed numerous changes over the centuries. At present, candle manufacturers not only use paraffin and fossil-based wax but also synthetic, bio-based and natural wax, which adds to the multi-dimensional growth of wax industry.

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Besides candle manufacturing, the cosmetics domain also acts as a momentous driver for wax market. In a world that is becoming increasingly obsessed with self-image and beauty, cosmetics sector is set to witness massive growth in next few years, a factor that will positively impact wax industry share over 2017-2024. Rise in disposable incomes and an inclination toward beauty has spurred the demand for better skin and personal care products. Owing to drastically changing climatic conditions, consumers have also been demanding natural and ecofriendly cosmetics in the interest of health and environmental ramifications. These shifting trends, in consequence, will inevitably provide the much-needed boost to wax market expansion. Given how extensively wax is used in the manufacturing of lipsticks, mascaras, lip balms, lotions, eye pencils, and creams, the cosmetics and candle-making sectors are likely to vie with one another in terms of which domain would be most lucrative for impelling global wax market size.

It is prudent to mention that wax industry also receives significant stimulus through the use of wax in food packaging, since the product is an effective medium to create a protective barrier between food and deteriorating factors like moisture and humidity. It not only provides a preservative seal but also adds a glossy sheen on food items like fruits, nut seeds, and fertilizers. Wax coatings also help in delaying ripening, loss of internal moisture, and prolonging shelf life in general, thus expanding the scope of wax market from food packaging.

The FDA has approved the use of wax as an edible coating to be safe, non-toxic, and hypo-allergenic. In response, wax is majorly used to coat whole fruits like avocados, mangoes, pomegranates, melons, apples, and papayas and as a glazing agent for nuts. Indeed, this provides another growth avenue for wax market expansion from the food packaging domain.

Wax market is likely to face a major hindrance in the form of fluctuations in raw material supply and prices. With fossil fuels becoming scarce, wax products that depend solely on petroleum or crude oil for their production are becoming costlier. However, wax industry is rife with innovations related to the manufacture of synthetic waxes that use bio-based materials and are more eco-friendly than conventional wax products. With global economies becoming stronger by the day and the rising per capita income, wax market is estimated to garner significant profits over the ensuing years.

Author Name : Paroma Bhattacharya

APAC cinnamic aldehyde market to gain remarkable proceeds over 2017-2024, flavor agents to drive the product landscape

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With a recorded valuation of USD 1 billion in 2016, the growth curve of global cinnamic aldehyde market is claimed to witness a steady pace of progression over the coming years, courtesy- extensive utilization of flavor and fragrance enhancers in food items. Flavor enhanced confectioneries, chewing gum, candy, and ice cream, in particular, have emerged as the most preferred beverage choices for global consumers. This, in consequence, has created massive growth opportunity for cinnamic aldehyde market, primarily on account of the product’s substantial deployment in food items as a flavoring agent. A report put forth by Medical Safety and Global Health in 2014, claims that almost 180,000 kg of cinnamaldehyde is consumed each year, out of which approximately 141,000 kg is exclusively used as a flavoring agent, i.e. almost 95% of the overall consumption. The fraction, itself gives a clear picture of the growth potential of cinnamic aldehyde industry from flavoring applications.

U.S. Cinnamic Aldehyde Market, By End-Use, 2016 & 2024 (Tons)
U.S. Cinnamic Aldehyde Market, By End-Use, 2016 & 2024 (Tons)

Testament of the fact is the estimation analyzed by Global Market Insights Inc., which depicts that overall cinnamic aldehyde market share from flavoring agent would exceed a revenue of USD 650 million by 2024. The organic compound, having been already authorized by the international standards like U.S. FDA approval and GRAS status, has further aided cinnamic aldehyde industry penetration across the food and beverage space.

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Regionally, Asia is claimed to be an emerging ground for cinnamic aldehyde market progression over the coming years. The reason behind APAC to become the hotspot for market investors is quite obvious- increasing consumer spending on food and beverage items across this belt. The economic boom in Asia Pacific belt has triggered middle-class populace to shore up the disposable income, which by extension enabled them to invest more on luxurious food items. This changing food consumption pattern has eventually entailed an increased demand for cinnamic aldehyde for various food applications particularly in regions like China, India, and Indonesia. Another driving factor that has immensely favored APAC cinnamic aldehyde market proliferation is abundant availability of cinnamon in these regions. Having procured almost 35% of the overall cinnamic aldehyde market share in 2016, Asia Pacific, undoubtedly, stands in a position to be claimed as one of the remunerative growth grounds for the entire business space over the coming years.

Powered by presence of both local as well as international players such as Emerald Kalama Chemical, Vee Kay International, Kalpsutra Chemicals, Graham Chemical, and LANXESS, the competitive landscape of the overall cinnamic aldehyde market is claimed to be highly fragmented. These biggies have been increasingly focusing on developing integrated supply chains for an easy procurement of raw materials which would ultimately reduce the overall cost trends. In this regard, Emerald Kalama Chemical, has apparently invested almost USD 40 million in a bid to expand its benzaldehyde and benzoic acid business in Rotterdam.  As claimed by the Netherland based cinnamic aldehyde market giant, this expansion would support its amyl cinnamic aldehyde and hexyl cinnamic aldehyde plant in Widnes, England, that it had procured two years back from Innospec, in the year 2015. With shifting manufacturer focus toward cost reduction along with spreading consumers’ awareness with regards to product credibility and functionality, cinnamic aldehyde industry size is forecast to exceed a valuation of USD 2 billion by 2024.

Author Name : Satarupa De

APAC synthetic & bio-based aniline market to carve out a profitable growth path over 2017-2024, China to be a lucrative business avenue

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One of the latest trends making inroads in Synthetic & Bio-Based Aniline Market is that of manufacturing biologically derived anilines, pertaining to the ongoing furor regarding environmental safety. Anilines, traditionally manufactured from nitrobenzene, are utilized to develop rubber processing chemicals, dyes & pigments, agrochemicals, and MDI, which are further used in a slew of end-use domains such as the rubber, transportation, automotive, construction, textiles, packaging, consumer goods, agriculture, and adhesive & sealant sectors. Encompassing such a widespread end-use spectrum demands extensive aniline production, which would perceivably result in the growth of synthetic & bio-based aniline market. Riding along the prospective path of sustainability, major companies partaking in synthetic & bio-based aniline market share have been attempting to develop anilines from natural material instead of traditional benzene. One of the key companies that has made it to the headlines for the same is Covestro.

U.S. synthetic & bio-based aniline market size, by application, 2013 – 2024 (USD Million)
U.S. synthetic & bio-based aniline market size, by application, 2013 – 2024 (USD Million)

Covestro has been deploying aniline as a feedstock for a considerably long while now for manufacturing rigid polyurethane foams that find applications across numerous end-use sectors. Currently, Covestro, following the lines of its contemporaries, has been manufacturing aniline from benzene, however, the synthetic & bio-based aniline industry giant has derived a new aniline development process that uses industrial sugar manufactured from an organic source that does not compete with food. If and when commercialized, this product is likely to bring about a revolution in synthetic & bio-based aniline market. Mobilized by sustainability trends, synthetic and bio-based aniline industry size, it is forecast, will exceed USD 19 billion by 2024.

Consequential instances depicting the magnitude of M&As in synthetic & bio-based aniline industry

  • In 2016, the chemical cosmos was ablaze with the news of Chemours Co. selling its aniline facility to Dow. Having been initiated in the last quarter of 2015, The Dow Chemical Company signed a definitive agreement with the well-known synthetic & bio-based aniline market participant, Chemours Co. to purchase its aniline production facility at Beaumont, Texas, for a valuation of approximately USD 140 million. Apparently, the Wilmington-based company had sold the plant as a part of its strategy to divest USD 350 million from its budget by 2017.

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As per the terms of the deal, Chemours is also expected to meet Dow’s additional requirement for aniline by supplying the precursor from its facility at Pascagoula, Mississippi. Selling its Texas plan to Dow has been touted to be a rather well-thought out tactic by the synthetic & bio-based aniline industry giant, since Dow has been Chemours’ biggest aniline customer since decades.

  • China has been touted to be the next epicenter for the growth of synthetic & bio-based aniline market. The year 2016 witnessed the China synthetic & bio-based aniline market player, Jilin Connell Chemical Industry Co. selecting Honeywell UOP’s Advanced MTO (methanol-to-olefins) process for deploying coal resources to manufacture propylene and ethylene for plastics. Given the extensive demand for plastics in the packaging sector, it goes without saying that Connell’s collaboration with Honeywell will accelerate the demand for plastic from the packaging sector, which in a way, will indirectly have a marginal effect on synthetic & bio-based aniline industry.
  • In 2014, renowned firms partaking in synthetic & bio-based aniline market share including the likes of BASF SE, Shanghai Huayi, Huntsman Corp., SINOPEC, and the Shanghai Chlor-Alkali Chemical Co., Ltd., had planned to construct a new plant that would manufacture close to 240,000 MT (metric tons) of crude diphenylmethane diisocyanate (MDI) on an annual basis at Shanghai Lianheng Isocyanate Co. Ltd., located in Caojing, China. The new plant was expected to commence in the year 2017 and has been designed with an aim to double the capacity of MDI production to 480,000 metric tons/year. This has undeniably propelled synthetic & bio-based aniline industry, given that aniline is extensively used in manufacturing MDI.

One of the key factors that has been forecast to propel synthetic & bio-based aniline market is the establishment of new aniline facilities across myriad geographies. The Ministry of Chemicals and Petrochemicals, for instance, in 2014, had taken Hindustan Organic Chemicals Ltd. (HOCL) under its wing, on a top priority basis, as a part of its public-sector restructuring program. A valuation of close to INR 500 crore had been spent by the government for the same, and a vital part of the project was inclusive of the Rasayani plant that manufactures aniline, nitric acid, and other chemicals. Endowed with government grants and a broad end-use array, synthetic and bio-based aniline industry size has been forecast to depict a CAGR of 6.5% over 2017-2024.

Author Name : Saipriya Iyer

Nutraceutical industry to primarily drive carotenoids market size over 2016-2024: Global revenue to surpass USD 300 million by 2024

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Rampant application of carotenoids across food & beverages, cosmetics, pharmaceuticals, and animal feed industries has fueled carotenoids market size. According to Global Market Insights, Inc., “Global carotenoids market share is projected to surpass USD 300 million by 2024.” Heavy use of carotenoids in the nutraceutical industry, owing to its positive effect on immune & cardiovascular system are expected to boost the carotenoids industry trends over the coming years. Higher spending on medical & healthcare insurance services along with the growing life expectancy of aging population is further expected to stimulate the global industry size over the next few years. Carotenoids act as a main precursor for amino acids in animal feeds and possess anti-oxidative characteristics, further enhancing its demand across animal feed additives market.

 

U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)
U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)

Major carotenoids products comprise lycopene, beta-carotene, astaxanthin, lutein, and canthaxanthin. Beta-carotene industry size worth USD 40 million in 2015, is forecast to register an annual growth rate of 4% over the coming seven years. Heavy product demand can be attributed to its increasing usage as an essential ingredient in diets, to avoid ailments pertaining to the eyes, heart, and skin. Canthaxanthin, which contributed towards nearly 10% of the global carotenoids market share in 2015, is projected to witness a high surge over the next few years due to rising consumer preference for bakery items, snacks, breakfast cereals, fruits, and baby ingredients. Moreover, its extensive usage across cosmetics industry due to its anti-tanning properties will further stimulate the product demand over the coming years.

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Lutein is another major carotenoid product, forecast to witness a substantial growth in the near future. The growth will primarily be driven by its high demand across pharmaceuticals, food, dietary supplements, nutraceuticals, and animal feed applications. Lycopene industry worth USD 15 million in 2015, is expected to grow considerably over the next few years due to its high application in cosmetics and pharmaceuticals sectors.

Shifting focus of consumers towards natural products has pushed growth of natural carotenoids market. Natural carotenoids industry size is expected to register a CAGR of 4% over the period of 2016-2024. The other prominent extraction of carotenoids is from the synthetic sources. Synthetic carotenoids market dominated the source landscape with a market value of USD 190 million in 2015. Low production cost and easy availability of synthetic resources will boost its industry share over the forecast timeframe.

Carotenoids market size in food & beverage sector is anticipated to grow substantially over the forecast period, owing to its large-scale application as food additives globally. Animal feed sector, which accounted for nearly 30% of the overall carotenoids market share in terms of volume, is projected to grow considerably over the coming years. The growth can be credited to its high nutrient content and improved taste. Growing consumer preference towards healthy meat appearance is expected to boost the carotenoids industry growth.

LATAM carotenoids market is expected to witness a considerable growth over 2016-2024, owing to changing lifestyles, rise in per capita income, and high consumer awareness about the benefits of product use. Argentina, Peru, Brazil, and Chile are expected to be the key growth drivers of the region.

Europe carotenoids industry will witness a substantial surge over the coming years due to the rapidly expanding food sector along with heavy product use as food coloring agent. Russia, Germany, Italy, and France are likely to be the key revenue pockets of the region.

Middle East & Africa carotenoids market is projected to witness a significant growth over the next few years, owing to rise in the aging population as well as high demand for the product across health supplements sector.

Market players will try to enhance their share by adopting business strategies such as product differentiation and high R& D investments. Key carotenoids industry players include Cyanotech Corporation, Allied Biotech Corporation, Chr. Hansen, Divis Laboratories Limited, D.D. Williamson, and Naturex Company.

Author NameDhananjay Punekar