Category: Chemical and Materials
Containerboards are paperboards used generally for packaging material due to their properties such as lightweight and paperweight, or high grammage. A recently published report by Fortune Business Insights™ titled, “ Containerboard Market Size, Share & Industry Analysis, By Material (Virgin, and Recycled), By End-User (Food & Beverage, Personal Care & Cosmetics, Industrial, and Others), and Regional Forecast, 2025-2032, ” offers a qualitative and quantitative analysis of the market. The global containerboard market size was valued at USD 138.87 billion in 2024. It is projected to be worth USD 141.43 billion in 2025 and reach USD 166.43 billion by 2032, exhibiting a CAGR of 2.35% during the forecast period.
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Segmentation Analysis:
By Material
The market is segmented into virgin and recycled materials. Recycled containerboard dominates due to its sustainability benefits, reducing deforestation and carbon emissions. Rising global environmental concerns and regulatory initiatives, such as the U.S. EPA’s recycling goals, are driving the demand for recycled containerboard.
By End-use Industry
Segments include food & beverages, personal care & cosmetics, industrial, and others. The food & beverage segment leads, driven by its need for durable, moisture-resistant, and hygienic packaging for dry goods, perishables, and frozen foods. Growing demand for eco-friendly and recyclable packaging further boosts this segment’s growth.
Market Drivers:
Q1: What is driving the growth of the containerboard market?
The market is primarily driven by the rising demand for sustainable packaging solutions across sectors such as food & beverage, pharmaceuticals, cosmetics, and personal care. Rapid industrialization and the growing popularity of ready-to-eat and frozen food products are increasing the need for durable, eco-friendly containerboard for packaging and shipping.
Q2: What challenges could impact market growth?
Strict regulations promoting the use of nature-friendly resources in containerboard production could pose a challenge for manufacturers, potentially increasing production costs and impacting market size.
Q3: Are there any new opportunities emerging in the market?
Yes, the rapid expansion of the e-commerce sector is creating strong demand for containerboard packaging. Additionally, the growing preference for product-specific corrugated boxes that provide better protection against external stress is expected to generate lucrative growth opportunities.
Competitive Landscape:
Q1: How is the competitive landscape structured?
The market is consolidated, with key players holding nearly 20% of the total production capacity. Leading companies include Mondi Group, SCG Packaging Public Company Limited, DS Smith, Lee & Man Paper Manufacturing Ltd., and Smurfit Kappa.
Q2: What strategies are players adopting to stay competitive?
Major players are investing heavily in R&D to develop recyclable, water-resistant, and high-strength containerboard products. They are also engaging in strategic initiatives such as mergers and acquisitions, joint ventures, agreements, and partnerships to strengthen their market position and expand their global reach.
List of Containerboard Market Manufacturers Include:
- Stora Enso
- Nine Dragons Paper (Holdings) Limited
- Hamburger Containerboard
- Georgia-Pacific LLC
- Rengo Co., Ltd.
- WestRock Company
- Oji Fibre Solutions (NZ) Ltd.
- International Paper
- Smurfit Kappa
- Lee & Man Paper Manufacturing Ltd.
- DS Smith
- SCG PACKAGING PUBLIC COMPANY LIMITED
- Mondi Group
- Other Players
A Significant Industry Development:
January 2024 – WestRock Company announced a new corrugated box plant in Pleasant Prairie, Wisconsin, to serve growing demand in the Great Lakes region and will close its North Chicago plant once construction is complete.
May 2023 – Smurfit Kappa expanded its Pruszków corrugated plant in Poland, making it the company’s largest and one of the most advanced packaging facilities in Europe.
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The global industrial and institutional cleaning chemicals market size was USD 47.25 billion in 2019 and is projected to reach USD 68.16 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period. The stringent food safety standards implemented by the authorities can have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “ Industrial and Institutional Cleaning Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (General Purpose Cleaners, Floor Care, Warewashing, Disinfectant & Sanitizer, Laundry Care, and Others), By End-User (Commercial, Manufacturing, Institutional & Government) and Regional Forecast, 2025-2032.”
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The emergence of coronavirus has caused the world’s economy to tumble down. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
We are perpetually working on our reports to help uplift businesses in this crucial time. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
Segmentation Analysis:
By Product Type: The market is segmented into general-purpose cleaners, floor care, warewashing, disinfectants & sanitizers, laundry care, and others. General-purpose cleaners dominate the market due to their wide use in degreasing, metal cleaning, and sanitation, coupled with their cost-effectiveness and efficiency.
By End-User: Based on end-users, the market is divided into commercial, manufacturing, and institutional & governmental. The commercial segment leads, driven by rising hygiene standards and increased sanitation awareness post-pandemic. The manufacturing segment is set to grow rapidly, supported by the need for equipment cleaning, degreasing, and contamination control in food & beverage facilities.
Market Driver :
Q1: What is driving the growth of the industrial and institutional cleaning chemicals market?
A: Rising consumption of cleaning chemicals for commercial use, growing health & hygiene awareness, and increasing demand from hospitality sectors such as restaurants and hotels are major growth drivers.
Q2: How does disposable income impact the market?
A: Higher disposable income and increased spending on tourism and leisure activities lead to greater demand for cleaning chemicals to maintain high hygiene standards in hospitality and commercial spaces.
Q3: What role do workplace sanitation standards play?
A: Stringent hygiene norms, especially in developed nations, are boosting the adoption of cleaning chemicals across offices, factories, and public facilities.
Regional Analysis :
Q1: Which region dominates the market?
A: North America leads the market, driven by high demand from the hospitality industry and increased usage of disinfection products post-COVID-19.
Q2: What are the growth prospects for Asia Pacific?
A: Asia Pacific is projected to grow rapidly due to strong demand from healthcare, retail, food service, and manufacturing sectors.
Q3: How is Europe contributing to market growth?
A: Europe is witnessing significant demand from the food & beverage industry, supported by strict hygiene and sanitation standards in workplaces.
Q4: What about Latin America and the Middle East & Africa?
A: Both regions are expected to show steady growth as awareness about hospital-acquired infection prevention rises, creating demand for cleaning chemicals.
Key Development :
18 November, 2020 : Kimberly-Clark Foundation introduced the 'Toilets Change Lives' program to support sanitation solutions in 10 countries during the pandemic outbreak.
The Report Lists the Key Players in the Market for I ndustrial and Institutional Cleaning Chemicals:
- The Procter & Gamble Company (U.S.)
- The Clorox Company (U.S.)
- Kimberly-Clark Corporation (U.S.)
- Ecolab (U.S.)
- Diversey Inc. (U.S.)
- Dow (U.S.)
- Graham Chemical Corporation (U.S.)
- Croda International plc (UK)
- BASF SE (Germany)
- Brenntag (Germany)
- Clariant SA (Switzerland)
- Solvay SA (Belgium)
- Other Players
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The global solar control glass market size was valued at USD 5.17 billion in 2018 and is projected to reach USD 10.68 billion by 2026, exhibiting a CAGR of 9.5% during the forecast period. The rising utilization of solar control glass with Low E thermal insulation for optimal temperature will have a positive impact on the solar control glass market revenue during the forecast period. Moreover, the increasing technological advancement in automotive will create lucrative business opportunities for the market in the forthcoming years. In addition, the surge in the construction industry and renovation of existing residential buildings will consequently boost the solar control glass market trends, mentioned in a report, titled “ Solar Control Glass Market Size, Share & Industry Analysis, By Application (Residential Buildings, Commercial Buildings, and Automotive), and Regional Forecast, 2025-2032”.
The Report Lists the Main Companies in the Solar Control Glass Market
- Asahi Glass Company
- Saint Gobain
- NSG
- Xinyi Auto
- CSG Architectural
- Corning
- Central Glass
- Schott
- Sisecam
- Asahi India Glass
- Other Players
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Segmentation Analysis:
By Application Analysis
The solar control glass market is segmented into residential buildings, commercial buildings, and automotive. Commercial buildings lead the market, driven by rapid industrialization and construction growth in emerging economies like China, India, and South Africa.
The residential segment is expanding due to population growth and rising repair and renovation activities in developing regions. The automotive segment is also expected to grow as manufacturers increasingly integrate solar control glass into vehicle designs.
Competitive Landscape :
Key Developments Driving Market Growth
Q: How is AIS supporting the solar control glass market through innovation?
A: AIS launched a Virtual Reality app – AIS World of Shades – enabling customers to select the right glass for their space virtually. This interactive solution showcases different colors and styles of solar control and heat-reflective glass, helping users make informed decisions from home.
Q: What are the benefits of the AIS Virtual Reality app?
- Offers 360° mobile mode view for a realistic visualization of spaces.
- Provides access to AIS Décor lacquered glass for modern interior applications.
- Enhances customer experience and promotes AIS’s solar control glass portfolio.
Q: Are other companies introducing innovative glass products?
A: Yes. For instance, Asahi India Glass Ltd. (AIS) expanded its architectural glass portfolio with SunShield Royal Gold.
- This product combines advanced solar control technology with aesthetic appeal, improving energy efficiency in both residential and commercial spaces.
- Available in various thicknesses, it caters to a wide range of architectural applications.
- COO Sanjay Ganjoo highlighted that Royal Gold adds a luxurious and vibrant touch to building exteriors and interiors.
Regional Analysis :
Q: Which region dominates the solar control glass market?
A: Asia Pacific leads the market, with revenues standing at USD 626.2 million in 2018. The region is expected to grow rapidly due to:
- Booming construction and infrastructure development, especially in China and India.
- Rising government regulations and initiatives encouraging energy-efficient building materials.
Q: What is driving growth in North America?
- Government-backed energy-saving projects promoting the use of solar control glass.
- Increased awareness among consumers regarding energy efficiency and sustainable construction.
Key Industry Development:
June 2018 – Asahi India Glass Ltd. Introduced a new decorative range of architectural glass. This aims to change living spaces and improve lifestyles through a high utility range and remarkable visual appeal. The glass ranges from patterned heat-reflective glass which can be used for exteriors and interiors of the building, while also adding the luxurious and exquisite element to the appearance.
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The global paints and coatings market is experiencing robust growth, driven by rising demand from construction, automotive, industrial, and consumer goods sectors. These products are essential for protection, decoration, and performance enhancement of surfaces, providing resistance against corrosion, abrasion, and UV radiation. Growing infrastructure development, urbanization, and technological advancements in eco-friendly and smart coatings are contributing to market expansion. The global paints and coatings market size was valued at USD 206.56 billion in 2023 and is projected to grow from USD 217.36 billion in 2024 to USD 303.97 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period.
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Forecast Growth Projected:
The global paints and coatings market size was valued at USD 206.56 billion in 2023 and is projected to grow from USD 217.36 billion in 2024 to USD 303.97 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period.
List of the Key Players in the Paints and Coatings Market:
- AkzoNobel (Netherlands)
- Kansai Nerolac Paints Limited (India)
- Kwality Paints and Coatings Pvt. Ltd. (KPCPL) (India)
- Nippon and Kansai (Kansai Paint Co., Ltd.) (Japan)
- The Sherwin-Williams Company (U.S.)
- NIPSEA GROUP (Singapore)
- Nippon Paint Holdings Co., Ltd. (Japan)
- Jotun (Norway)
- Axalta Coating Systems (U.S.)
- TIKKURILA OYJ (Finland)
- Dunn-Edwards Corporation (U.S.)
- Asian Paints (India)
- RPM International Inc. (U.S.)
- PPG Industries, Inc. (U.S.)
Segmentation Insights:
Which resin type is expected to generate the highest revenue?
Polyurethane (PU) resin is anticipated to generate the highest revenue due to its excellent abrasion resistance and corrosion resistance. These properties make it highly suitable for applications requiring durability and long-lasting protection.
Why does acrylic resin hold a substantial market share?
Acrylic resin stands out because of its superior adhesion, fast drying speed, relative resistance, and flexibility. These qualities make it widely used in paints and coatings, especially in decorative and protective applications.
Which product type is expected to dominate the market?
Waterborne coatings hold the dominant market share. Their environmentally friendly, VOC-free nature, combined with quick drying and easy application, makes them a preferred choice. Industries such as wood, plastic, furniture, printing inks, and automotive are major users of waterborne coatings.
Which application segment is showing strong growth?
The architectural segment is expected to grow at a substantial CAGR. This is due to increasing demand for paints and coatings in residential and non-residential construction for decorative and protective purposes, such as shielding structures from UV radiation and environmental damage.
Report Coverage:
What does the report provide?
- Analysis of major drivers, restraints, opportunities, and challenges.
- Detailed insights into regional developments.
- A list of major players in the market.
- Key strategies adopted by leading companies.
- Overview of the latest industry developments, including product launches, mergers, partnerships, and acquisitions.
Drivers & Restraints:
What is driving the market growth?
- Rapid expansion of the construction sector.
- Rising use of paints and coatings in infrastructure, interiors, primers, stains, varnishes, and sealants.
- Increasing government investments in public infrastructure projects.
- Adoption of advanced technologies such as Building Information Modeling (BIM), cloud computing, and collaboration tools in the construction industry.
What is restraining the market growth?
- Challenges in producing thin coatings.
- Difficulties in controlling the velocity and volume of powder during application can hinder market expansion.
Regional Insights:
Which region dominates the paints and coatings market?
- Asia Pacific leads in terms of both volume and revenue and is expected to maintain this dominance.
- Growth is driven by booming construction and automotive industries in China, India, and Japan.
- Rising demand for paints and coatings in residential and non-residential infrastructure projects further supports regional growth.
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The Global Amorphous Soft Magnetic Materials Market has recently been analyzed and explored by Fortune Business Insights™ in their latest market research report. The team of dedicated analysts and researchers has gone to great lengths to provide a comprehensive overview of both current and future scenarios pertaining to the Amorphous Soft Magnetic Materials Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Amorphous Soft Magnetic Materials Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
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Forecast Growth Projected:
The global amorphous soft magnetic materials market size was USD 522.4 million in 2019 and is projected to reach USD 728.5 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.
List of the Key Players in the Amorphous Soft Magnetic Materials Market:
- Hitachi Metals, Ltd. (Tokyo, Japan)
- VACUUMSCHMELZE GmbH Co KG (Hanau, Germany)
- CHINA AMORPHOUS TECHNOLOGY CO., LTD. (Guangdong, China)
- BOMATECH (Höri, Switzerland)
- Toshiba Materials Co., Ltd. (Yokohama, Japan)
- AMES SA (Barcelona, Spain)
- Advanced Technology & Materials Co., Ltd. (Beijing, China)
- MK Magnetics Inc. (California, U.S.)
Drivers & Restraints:
High Demand for Amorphous Alloys to Accelerate Market Growth
Amorphous alloys, which are mainly composed of cobalt, nickel, and iron with silicon, phosphorus, carbon, and boron, are witnessing growing demand. Industrial consumers are increasingly focused on reducing operating costs, improving energy efficiency, and running operations more effectively. Amorphous alloys offer excellent mechanical strength and low coercive field, making them ideal for these needs. However, the availability of alternative soft magnetic materials may restrict the market’s growth potential over the coming years.
Q: Why is demand for amorphous alloys rising?
A: They help industries save energy, cut operating costs, and provide better performance due to their superior mechanical strength and low coercive field.
Q: What factor could restrain market growth?
A: The presence of substitute soft magnetic materials that may be cheaper or more easily available.
Segment Analysis:
Transformer Segment to Lead the Market: By application, the market is divided into transformers, magnetic shielding, magnetic sensors, flexible antenna, electronic article surveillance, and others. The transformer segment accounted for 55.9% of the global market share in 2019 and is expected to remain dominant. Amorphous alloys are widely used in transformer magnetic cores, resulting in:
- Improved transformer efficiency
- Reduced overall weight
- Lower energy losses
Q: Why does the transformer segment hold the largest share?
A: Because amorphous alloys are extensively used in transformer cores, making them lighter and more efficient.
Regional Analysis:
Asia Pacific to Dominate the Market
Asia Pacific generated USD 286.1 million in 2019 and is expected to remain the largest regional market.
Key Growth Factors:
- China is one of the world’s leading producers of amorphous metal transformers.
- Growing demand for energy-efficient transformers.
- Increasing adoption of electric vehicles (EVs) driving demand for magnetic materials.
Europe is projected to hold the second-largest share, driven by Germany’s well-established electronics industry.
Q&A:
- Q: Which region leads the market and why?
A: Asia Pacific leads, largely due to China’s major role in manufacturing amorphous metal transformers and growing EV usage. - Q: What makes Europe the second-largest market?
A: Its strong electronics industry, particularly in Germany, which drives steady demand for amorphous soft magnetic materials.
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The Global Smart Polymers Market has recently been analyzed and explored by Fortune Business Insights™ in their latest market research report. The team of dedicated analysts and researchers has gone to great lengths to provide a comprehensive overview of both current and future scenarios pertaining to the Smart Polymers Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Smart Polymers Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
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Smart Polymers Market Segmentation & Insights:
Type Analysis: Physical Segment to Record Substantial Growth Driven by Automotive Applications
By type, the smart polymers market is divided into biological, chemical, physical, and others .
The physical segment is expected to experience significant growth over the forecast period.
This growth is primarily attributed to increasing adoption across industries such as automotive, medicine, and biotechnology where physical smart polymers are used for applications requiring flexibility and responsiveness.
Application Analysis: Biotechnology & Medicine Segment Leads Market Share
Based on application, the market is categorized into textile, biotechnology & medicine, electrical & electronics, automotive, and others.
The biotechnology & medicine segment held the largest share in 2022.
Rising demand for medical equipment, drug delivery systems, and advanced treatment solutions is a major factor fueling growth in this segment.
Market Drivers & Restraints:
Key Growth Drivers:
Growing Polymer Consumption in the Biomedical Sector – Smart polymers are increasingly used in medical devices, tissue engineering, and drug delivery systems due to their self-healing, shape-memory, and stimuli-responsive properties .
Restraints:
Stringent Government Regulations – Compliance with environmental and health standards may slow market growth.
Rising Demand for Green Plastics – The shift toward sustainable and bio-based alternatives could create competitive pressure on traditional smart polymers.
Regional Insights:
North America – Expected to see robust growth driven by rising demand for electrical & electronic equipment and technological advancements.
Asia Pacific – Anticipated to register strong expansion supported by thriving textile, medical, and automotive sectors.
Key Questions & Answers:
Q1: What is driving the demand for smart polymers?
A: The main driver is their increasing use in the biomedical sector, where properties like self-healing and shape memory enable advanced medical applications.
Q2: Which segment is expected to dominate by type?
A: The physical smart polymers segment is projected to dominate due to its growing usage in automotive, medical, and biotechnology applications.
Q3: Why is the biotechnology & medicine segment growing the fastest?
A: Rising demand for medical equipment, drug delivery systems, and smart treatment solutions is fueling this segment’s rapid growth.
Q4: What challenges could hinder market growth?
A: Strict regulations on polymer usage and the increasing shift toward green plastics may limit market expansion.
Q5: Which regions are showing the most promising growth?
A: North America (due to strong electronics demand) and Asia Pacific (due to booming end-use industries) are the key growth regions.
Q6: How are companies strengthening their market presence?
A: Through partnerships, acquisitions, mergers, and new product launches to expand market reach and maintain a competitive edge.
Key Industry Development:
February 2025 - Lubrizol launched a new ESTANE® TPU production line at its Shanghai facility to meet the growing demand for high-performance Paint Protection Film (PPF) in the Asia Pacific market. The company also released a white paper emphasizing the importance of full value-chain collaboration and open innovation to meet diversified consumer needs.
April 2024 - Lubrizol introduced Carbopol® Fusion S-20 polymer, an inherently biodegradable rheology modifier suitable for skin cleansing and hair care applications. This polymer addresses all 12 Principles of Green Chemistry in its manufacturing process.
List of Key Companies Profiled:
- The Lubrizol Corporation (U.S.)
- Spintech (U.S.)
- BASF SE (Germany)
- SMP Technologies Inc. (India)
- Autonomic Materials (U.S.)
- Nouryon (Netherlands)
- Covestro AG (Germany)
- Evonik Industries AG (Germany)
- Huntsman International LLC (U.S.)
- DuPont (U.S.)
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The global ferrochrome (FeCr) market size was valued at USD 16.92 billion in 2023 and is projected to grow from USD 17.81 billion in 2024 to USD 26.55 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. Rising stainless production for end use industries, such as construction and automotive, and growing demand from emerging economies are the factors facilitating market expansion. This information is provided by Fortune Business Insights , in its report titled, “ Ferrochrome Market, 2024-2032 .”
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Segments
High Carbon Segment to Account for Major Share Backed by its Lower Cost
According to product type, the market is segregated into high carbon, low carbon, and others. Among these, the high carbon segment captured the largest ferrochrome market share due to its extensive usage by stainless steel manufacturers and its lower cost as compared to the alternatives.
Stainless Segment to Dominate Owing to Increasing Demand from Construction Sector
As per application, the market is fragmented into stainless steel, specialty steel, and others. The stainless-steel segment is anticipated to hold majority of the market share in the forthcoming years due to the affordability and accessibility of steel owing to technological developments in the field. The rising demand for stainless steel from construction sector will contribute to market proliferation as well.
Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides exhaustive information regarding drivers, challenges, opportunities, and threats influencing market trends over the analysis timeframe. Statistical data such as market share, growth rate, and valuation for each segment and region are also covered. Moreover, the report briefs readers about recent developments in the domain such as mergers & acquisitions, partnerships, and collaborations.
Q: What are the key drivers of the ferrochrome market?
A: Major drivers include:
- Growing foreign investments and expansion of manufacturing activities
- Increased demand from industries like construction, automotive, heavy equipment, and consumer goods
- Rising number of residential and commercial projects and infrastructure development
- Growing stainless-steel consumption due to urbanization and industrialization
Q: What are the main restraints impacting market growth?
A: The market faces challenges such as:
- Availability of substitutes like carbon fiber
- High production costs due to significant electricity consumption in ferrochrome manufacturing
Regional Insights:
Asia Pacific to Account for Significant Share Due to Rising Stainless Steel Production and Demand
Asia Pacific accounted for a significant market share in 2022 backed by growing stainless steel production and growing demand from Indian and Chinese steel manufacturers. Growing urbanization is elevating stainless steel demand further, thus contributing to market expansion in this region.
The North America market is projected to record substantial growth in the forecast timeframe due to growing stainless steel production in the U.S. and fall in imports due to the ongoing trade war with China. High demand for stainless steel from domestic manufacturers might attribute to ferrochrome demand as well.
The Europe market is expected to grow rapidly in the forthcoming years due to rising research and development activities and growing automotive sector. Surging demand for stainless steel from automotive sector to manufacture body frames, components, and parts of an automobile will drive industry growth in this region.
Competitive Landscape:
Efforts to Improve Production Capacity to Drive Market Augmentation
Leading players often take tactical decisions to boost sales, maximize profits, and earn larger revenues. One such move is to increase production capacity to meet rising product demand from consumers. For example, in December 2020, Ferro Alloys Corporation Ltd. (FACOR), a part of Vedanta, signed a conversion agreement with TATA Steel Mining Limited to process chrome ores. Through this agreement, Ferro Alloys Corporation Ltd. aims to increase its ferrochrome furnace production capacity.
Key Industry Development:
June 2022: Tata Steel Limited acquired 10% equity shares of Tata Steel Mining Limited, a wholly owned subsidiary, for USD 2 million approximately.
List of Key Players Mentioned in the Report:
- Tata Steel Mining Limited (India)
- Samancor Chrome (South Africa)
- TNC KAZCHROME JSC (Kazakhstan)
- Ferro Alloys Corporation Ltd. (FACOR) (India)
- HERNIC (South Africa)
- Eurasian Resources Group (Luxembourg)
- IMFA (India)
- Daido Steel Co., Ltd. (Japan)
- Sandvik AB (Sweden)
- Baosteel Group Corporation (China)
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Flame retardants are chemicals added to flammable materials such as plastic, coatings, textiles, and others to prevent fire incidents. Flame retardants are also added to products such as electric wires, computers, mattresses, foams, automobile parts, and others for protection against fire. A recently published report by Fortune Business Insights, titled, “Flame Retardant Market Size, Share & Industry Analysis, By Chemistry (ATH, Brominated, Antimony Oxides, Chlorinated, Phosphorous Compounds, and Others), By End User (Automotive, Construction, Wire & Cable, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2025-2032,” states that the global flame retardant market size was valued at USD 7.09 billion in 2019 and is projected to reach USD 11.17 billion by 2027, exhibiting a CAGR of 5.9% during the forecast period.
The Report Answers the Following Questions:
- What is the competitive landscape of the market?
- How will end-user applications help promote growth?
- What are the key strategies adopted by players in this market?
- What are the significant industry developments in this market?
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Drivers & Restraints:
Q1: What is driving the growth of the flame retardant market?
- The growth is primarily driven by the imposition of stringent fire safety regulations across various industries.
- Rising consumption of brominated compounds in multiple end-use products is boosting demand.
- The development of innovative synergists that improve the efficiency of flame retardants is also contributing to market expansion.
Q2: What is restraining the market growth?
- Health and environmental concerns regarding the use of conventional flame retardants have led to stricter regulations, limiting their usage.
- Despite these challenges, mandatory fire safety norms are creating lucrative opportunities as manufacturers adopt safer, more sustainable flame retardant solutions.
Segmentation Insights:
Q3: Which segment held the largest market share?
The antimony oxides segment dominated the market with a 26.6% share in 2019 due to its effectiveness.
Q4: Which segment is expected to grow the fastest?
The aluminium trihydrate (ATH) segment is projected to overtake antimony oxides during the forecast period, as ATH does not emit toxic smoke when burned and is widely preferred for safer applications.
Regional Analysis:
Q5: Which region dominated the market?
Asia Pacific held the largest share in 2019, generating USD 3,173.7 million in revenue, driven by robust electronics manufacturing and increasing construction activities.
Q6: Which regions will see significant growth in the coming years?
North America is expected to grow steadily due to stringent mandatory fire safety regulations.
Europe will witness considerable growth, fueled by the automotive industry’s rising adoption of flame retardants in vehicle components.
Competitive Landscape:
Q7: How are companies competing in the flame retardant market?
Leading manufacturers are investing heavily in product innovation and development to create more efficient flame retardants.
A major focus is on developing halogen-free flame retardants to meet sustainability goals and comply with environmental standards.
Key Industry Developments:
- December 2018: LANXESS will invest US$222.3 million in flame retardant products. The company will invest this amount in its plants located in the U.S., Germany, and the UK. The investment will substantially strengthen the company's presence.
Some of the Key Players of the Flame Retardant Market include:
- Thor (UK)
- Italmatch Chemicals S.p.A. (Italy)
- Huber Engineered Materials (United States)
- Kisuma Chemicals (Netherlands)
- Nabaltec AG (Germany)
- Dow (United States)
- Akzo Nobel N.V. (Netherlands)
- BASF SE (Germany)
- ICL Group (Israel)
- Lubrizol Corporation (United States)
- Clariant (Switzerland)
- LANXESS (Germany)
- Others
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The global marine lubricants market size was valued at USD 8.01 billion in 2018, and it is estimated to reach USD 9.47 billion by 2026, with a CAGR of 2.13% over the forecast period. This information is provided by a published report by Fortune Business Insights™. The title of the report is, “Marine Lubricants Market Size, Share & Industry Analysis, By Product (Marine Cylinder Oil, Piston Engine Oil, System Oil, and Others; By Ship Type (Bulk Carrier, Oil Tankers, General Cargo, Container Ships, Others), and Regional Forecast, 2025-2032.”
The report provides a 360-degree overview of the market, focusing on major growth parameters such as drivers, restraints, challenges, trends, and opportunities. It also offers the competitive landscape of the market and list of leading players. Segmentation of the market based on factors such as product, ship type, and regions is discussed in the report. Apart from this, key industry developments and other interesting insights are provided in the marine lube market report. The report is available for sale on the company website.
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Segmentation Analysis:
By Product: Marine cylinder oil is crucial for protecting engine components from corrosion and ensuring reliable performance under harsh marine conditions. IMO’s low-sulphur fuel regulations (≤0.5%) have prompted manufacturers to reformulate fuels and lubricants, increasing reliance on high-quality cylinder oils. Failures in marine cylinder oil account for 28% of machinery claims, with an average cost of USD 0.65 million (The Swedish Club), emphasizing its importance for cost-effective and uninterrupted operations.
By Ship Type: Bulk carriers, which transport unpackaged cargo like coal, grains, steel, and cement, represent the largest fleet segment by dead-weight tonnage. Their extensive use of engines and systems such as lifeboat launches, shaft bearings, winches, and low-speed main engines makes them the top consumers of marine lubricants. Growing global trade is expected to further boost bulk carrier operations and lubricant demand.
Drivers:
Q: What is the major factor driving the marine lubricants market?
A: The major driver is the rising focus on enhancing the operability of ship engines. Shipping companies are adopting slow steaming to save fuel due to rising fuel prices, but this puts stress on marine engines. Marine lubricants are essential to prevent corrosion and ensure smooth engine performance.
Q: How do global trade and e-commerce impact the market?
A: Increasing international trade relations and the rapid growth of overseas e-commerce are boosting demand for shipping activities, which in turn drives the consumption of marine lubricants.
Q: Are there new opportunities emerging in the market?
A: Yes. The development of bio-based lubricants is creating lucrative opportunities for sustainable growth and attracting environmentally conscious ship operators.
Regional Analysis:
Q: Which region dominates the marine lubricants market?
A: Asia Pacific holds the largest share of the global market.
Q: Why does Asia Pacific lead the market?
- Presence of major shipping fleet companies like China Shipping Container Lines, China Ocean Shipping Company, and Mitsui O.S.K. Lines.
- Around 50% of the global ship fleet is owned by Asia Pacific nations (UNCTAD).
- High number of dry docks supporting ship maintenance and lubricant consumption.
- Growing trade relations among emerging nations such as China, India, and Taiwan, along with an increase in naval vessel numbers.
Q: How is the North American market performing?
A: North America holds a single-digit share, with revenue of USD 3.41 billion in 2018. While ship ownership is relatively lower, steady growth in trade is expected to fuel moderate market growth in the coming years.
Competitive Landscape:
Companies Engage in Contracts and Agreements to Stay Ahead of Competition
An estimate of 85% and more of marine lubricants worldwide are sold through supply agreements and contracts instead of being sold at stock price rates. Therefore, to strengthen their network across different ports for worldwide supply, manufacturers are emphasizing on entering into long-term contracts and agreements with shipping companies. For instance, a framework agreement was signed between CCCC Dredging (Group) Co. Ltd. and Shell for supplying marine lubricants and technical services via 700 ports and more in 61 nations across the globe
Notable Marine Lube Market Manufacturers:
- BP p.l.c.
- SINOPEC
- Repsol S.A.
- The PJSC Lukoil Oil Company
- Eni oil Products
- Exxon Mobil Corporation
- Croda International Plc
- AvinOil S.A.
- Total SA
- CEPSA
- Royal Dutch Shell Plc
- Gazprom Neft PJSC
- Chevron Corporation
- Others
Key Industry Development in Marine Lubricants Market Include:
November 2019: Royal Dutch Shell Plc, a Netherlands-based manufacturer of specialty chemicals and materials, signed an agreement with China COSCO Shipping Company Limited (COSCO SHIPPING) for the supply of marine lubricants for five multi-purpose pulp carriers. Under this agreement, Shell will provide various types of cylinder oil lubricants through the end of 2020.
June 2019: Lukoil Marine Lubricants, a Dubai-based subsidiary of PJSC Lukoil and a leading marine lubricant manufacturer, renewed its contract with Kuwait Oil Tanker Company (KOTC) to supply marine lubricants to 24 vessels in its fleet.
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According to Fortune Business Insights™, the global lactic acid market size was valued at USD 7.14 billion in 2023 and is projected to grow from USD 8.37 billion in 2024 to USD 31.84 billion by 2032, exhibiting a CAGR of 18.0% during the forecast period.
According to our researchers, lactic acid or 2-Hydroxypropanoic acid is a natural biological acid with several applications in the food, pharmaceutical, chemical, cosmetic, and medical industries. It is formed by fermenting sugar acquired from renewable means, terming it as an eco-friendly creation. The product is generally utilized in polylactic acid (PLA) formation, a compostable thermoplastic and recyclable polymer created from renewable mediums.
List of Key Players Covered in Lactic Acid Market Report are:
- BASF SE (Ludwigshafen, Germany)
- Corbion (The Netherlands)
- NatureWorks LLC (Minnesota, U.S.)
- CELLULAC (London, U.K.)
- Galactic (Escanaffles, Belgium)
- Sulzer Ltd (Winterthur, Switzerland)
- GODAVARI BIOREFINERIES LTD. (Mumbai, India)
- Cargill, Incorporated (Minnesota, U.S.)
- Kemin Industries, Inc. (Iowa, U.S.)
- Henan Jindan Lactic Acid Technology Co. Ltd (Hertogenbosch, The Netherlands)
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Report Coverage:
The market report provides a rounded evaluation of the market segments. A wide-ranging study of the modern trends and impending opportunities in the market is offered in the report. It offers an exhaustive analysis of the regional insights and how they form the market in particular regions. The impact of the COVID-19 pandemic is mentioned for further comprehension of the conceivable threats in the market. The proficient strategies of the best players and how they accelerate the market growth are discussed in the following report
Drivers and Restraints:
Q1: What is driving the growth of the lactic acid market?
- Growing Cosmetic and Personal Care Industry:
Lactic acid plays a crucial role as a humectant, exfoliator, pH adjuster, and skin-prepping agent in skincare products.
- Smoothens and revitalizes skin for an even texture.
- Reduces acne spots, wrinkles, and fine lines.
- Strengthens fragile hair when used in hair care products.
Rising disposable incomes and growing awareness of personal grooming are expected to boost the demand for cosmetics, thereby driving the lactic acid market.
Q2: How is e-commerce influencing demand?
- The rapid growth of online shopping platforms such as Amazon and Alibaba Express has boosted sales of cosmetics and personal care products.
- Social media marketing, influencer promotions, and personalized ads are encouraging consumers to purchase more beauty products, indirectly fueling lactic acid demand.
Segmentation Analysis:
Q3: What are the key raw materials used in lactic acid production?
- Sugarcane
- Corn
- Yeast extract
- Others
Q4: What are the main applications of lactic acid?
- PLA (Polylactic Acid): Largest segment, used to produce biodegradable plastics from renewable resources (corn, cassava, potato).
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceutical
- Others
Regional Insights:
Q5: Which region holds the largest share of the lactic acid market?
- North America:
- Dominates the global market due to rising demand from food & beverages, pharmaceutical, and cosmetics industries.
- Growth supported by advancements in drug delivery systems and pharmaceutical R&D.
Q6: Which regions are expected to show the fastest growth?
- Europe: Increasing demand for biodegradable plastics due to environmental concerns.
- Asia Pacific: Rapidly expanding food & beverage sector, coupled with rising purchasing power and improved living standards.
Competitive Landscape:
Bulk Development Strategies Applied by Players to Maintain Market Position
Most of the crucial players are financing the acid's R&D activities to transform novel and reputable technologies. For example, in April 2019, Asahi Group, a Japanese brewery business, introduced the Asahi Quality and Innovations Co. (AQI) as it pursues to progress its proficiency in yeast and LAB and implement novel digital technologies. This R&D is expected to advance novel health food elements, generate fresh business, and decrease the general ecological impact.
Key Industry Development:
- June 2021: International Flavors and Fragrances (IFF) launched YO-MIX ViV, an “extremely robust” LAB culture for ambient yoghurt and other fermented drinks products. The launch of the product will expand the brand in China.
- March 2021: Sandoz Inc. launched AmLactin, a new Rapid Relief Restoring Cream. The cream consists of 15% lactic acid, used as an everyday moisturizing cream.
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