According to Fortune Business Insights the global AdBlue market was valued at USD 33.68 billion in 2024 and is expected to reach USD 49.86 billion by 2032, growing from USD 35.16 billion in 2025 at a CAGR of 5.1% during the forecast period (2025–2032). This information is presented by  Fortune Business Insights , in its report, titled,  “AdBlue Market, 2025-2032.”

AdBlue, or diesel exhaust fluid, is a non-toxic solution made of 32.5% urea and 67.5% deionized water. It’s used in selective catalytic reduction (SCR) systems in diesel engines to reduce nitrogen oxide (NOx) emissions, converting them into harmless nitrogen and water vapor. Essential for meeting emissions standards like Euro 6, AdBlue is widely used in trucks, buses, and some passenger cars. It must be stored between -11°C and 30°C to remain effective and is available at fuel stations and service centers across regulated markets.

The global water and wastewater treatment market was valued at USD 323.32 billion in 2023 and is expected to grow from USD 346.41 billion in 2024 to USD 617.81 billion by 2032, registering a CAGR of 7.5% during the forecast period. This information is presented by   Fortune Business Insights , in its report, titled,   “Water and Wastewater Treatment Market, 2025-2032.”  Water and wastewater treatment is crucial to meet rising clean water demand, especially as over 40% of the global population faces water stress. With only 1% of Earth's water being freshwater, many nations rely on desalination to convert seawater into drinkable water.

The global biolubricants market size was valued at USD 3.26 billion in 2023 and is projected to grow from USD 3.44 billion in 2024 to USD 4.90 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period.   Fortune Business Insights™   publishes this information in a report titled,   " Bio Lubricants Market , 2025-2032" . As per the report, the market is projected to rise during the forecast period due to increasing adoption of sustainable and biodegradable bio lubricants in several end-use industries.

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Segmentation Analysis:

Automotive & Other Transportation Segment Dominates Market Due to Developing Automobile Sector

By application, the market is segmented into hydraulic fluids, metalworking fluids, chainsaw oils, mold release agents, two-cycle engine oils, gear oils, greases, and others.

Based on end-use industry, the market is divided into automotive & other transportation, metalworking, mining, forestry, marine, engines, and others.

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers & Restraints:

Government Initiatives Governing Oil-based Lubricants to Bolster Market Growth

Bio lubricants are highly utilized in the automotive sector. In recent years, the automobile industry has been projected to grow rapidly. Also, biodegradable lubricants are being replaced with mineral oil-based lubricants to ensure high-quality performance. Also, government policies to increase sustainable lubricants and increase investment in R&D activities are expected to drive the market during the forecast period. These factors are expected to ensure the bio lubricants market growth in the coming years.

Regional Insights

North America to Retain Leading Position with Growing Activities in the Region’s Auto Industry

North America is slated to dominate the bio-lubricants market share during the forecast period due to the rising intensity of technological advancements in the region’s automotive industry. Top carmakers are constantly experimenting with different ecofriendly materials to increase the sustainability of their products and manufacturing operations. In 2019, the North America market size stood at USD 1,410.3 million.

Asia Pacific, which is rapidly emerging as the auto manufacturing hub of the world, is generating wide growth opportunities for market players. Governments in the region are creating favorable investment conditions to attract global automakers and are also framing policies to promote the adoption of sustainable materials for domestic vehicle manufacturers. Active encouragement to adopt bio-based lubricants and other materials through policy nudges is fueling the market for bio-lubricants in Europe.

Competitive Landscape

Strategic Investments in New Ventures to be a Prominent Feature of Market Competition

The competitive dynamics of this market are currently being shaped by the well-calculated investments by key players in initiating novel production ventures in distinct geographies. These ventures are aimed at capitalizing on the speedily evolving trend of utilizing bio-lubricants and other bio-based materials for industrial operations.

Industry Development:

• August 2020:   Novvi LLC announced the successful commencement of its plant in Deer Park, Texas, where it will be producing and marketing all of its renewable base oils for the lubricant industry. The company aims to advance its sustainable lubricant offering range and engage with local vendors to reduce their carbon footprint.

List of Key Companies Covered in the Bio-lubricants Market Report:

• Castrol (Pangbourne, UK)
• Emery Oleochemicals (Selangor, Malaysia)
• Repsol (Madrid, Spain)
• Klüber Lubrication (Munich, Germany)
• Cortec Corporation (Minnesota, U.S.)
• Axel Christiernsson (Gothenburg, Sweden)
• Total (Paris, France)
• Shell (The Hague, Netherlands)
• PANOLIN AG (Madetswil, Switzerland)
• IGOL (Geneva, Switzerland)

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According to Fortune Business Insights the global geotextiles market was valued at USD 3.39 billion in 2023 and is expected to reach USD 3.62 billion in 2024. The market is projected to grow to USD 6.14 billion by 2032, registering a compound annual growth rate (CAGR) of 6.8% during the forecast period.

Rising demand for high-performance geotextiles in road construction, erosion control, and agriculture—along with rapid construction industry growth is driving market expansion. These textiles enhance soil stability for infrastructure projects and offer protection against climate-related disasters. Their popularity is further boosted by benefits like high mechanical strength and liquid repellency, supported by increased government investments in construction.

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Geotextiles Market Segmentation:

• By Material:  The synthetic segment, particularly polypropylene (PP), dominates due to its high strength, low elongation, and suitability for applications like roads, dams, and railroads.
• By Product:  Non-woven geotextiles lead the market, driven by rising infrastructure projects. Their lightweight, durability, and environmental benefits make them ideal for roads, railways, drainage, and filtration.
• By Application:  Road construction is the largest application segment, supported by increased automobile usage and government investments. Geotextiles enhance soil stability and reduce erosion, extending road life.

What does the Report Provide?

The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.

Driving Factors:

Increasing Investment in Construction Projects to Promote Growth

According to the U.S. Commerce Department, the spending on construction projects was at a record high in January 2021. It further reports that the total investment surpassed to a staggering USD 1.521 trillion, an overall increment of 1.7%. The increasing spending on construction projects is likely to boost the adoption of coir products owing to their superior properties such as liquid repellency and mechanical strength. Moreover, supportive government policies formulated for coir manufacturers to improve their production will boost the global geotextiles market growth in the forthcoming years.

Further Report Findings:

• Asia Pacific stood at USD 3,038.1 million in 2020. The region is expected to hold the highest position in the market during the forecast period. This is attributable to the increasing government initiatives to develop infrastructure in countries such as India and China.
• North America is expected to showcase considerable market growth backed by the presence of highly developed drainage systems that require periodic maintenance propelling the demand for advanced geotextiles in countries such as the U.S. and Canada.
• Based on product, the woven segment held a global geotextiles market share of about 34.18% in 2020 and is anticipated to showcase significant growth in the forthcoming years. This is ascribable to factors such as the increasing demand for woven products due to their beneficial properties such as improved performance and reduced maintenance costs across the globe.

Competitive Landscape:

Investment in R&D by Key Players to Amplify Their Market Positions

 The market is consolidated by major companies striving to leverage the lucrative opportunities to maintain a stronghold. These companies are focusing on investments in R&D activities to develop novel natural geotextiles to cater to the growing demand from the construction sector. Moreover, other key players are trying to maintain their presence by adopting strategies such as collaboration, facility expansion, and the introduction of new products that will contribute to the growth of the market in the forthcoming years.

Industry Development:

• March 2020  - Megaplast, an Indian polyethylene product manufacturer, announced the adoption of BASF’s light stabilizers from the Chimassorb to produce nonwoven geotextiles. They are likely to be utilized in the construction of national highways.

List of the Companies Profiled in the Market:

• Maccaferri (Bologna, Italy)
• TENAX (Lecco, Italy)
• TenCate Geosynthetics Asia Sdn Bhd. (Selangor Darul Ehsan, Malaysia)
• GSE Environmental (Texas, the U.S.)
• Terram Geosynthetics Pvt. Ltd. (Gujarat, India)
• HUESKER Synthetic GmbH (Gescher, Germany)
• Global Synthetics (New South Wales, Australia)
• TYPAR Geosynthetics (Tennessee, the U.S.)
• Fibertex Nonwovens A/S (Aalborg, Denmark)
• Belton Industries (South Carolina, the U.S.)
• Thrace Group (Alimos, Greece)
• NAUE GMBH & CO. KG (Espelkamp, Germany)
• Other Key Players

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According to Fortune Business Insights the global lubricants oil drum market was valued at USD 2.82 billion in 2024 and is expected to reach USD 5.61 billion by 2032, growing from USD 3.05 billion in 2025 at a compound annual growth rate (CAGR) of 9.06% during the forecast period. Lubricant oil drums are cylindrical containers used for storing and transporting lubricants across various sectors such as automotive, marine, and industrial machinery.

A lubricant oil drum is a cylindrical container used to store and transport lubricating oils that reduce friction in machinery. These drums, made from steel, plastic, or fiber, are essential across industries like automotive, manufacturing, marine, and aviation. The market includes the production and distribution of drums designed to meet strict safety and quality standards.

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Segmentation Analysis:

By Product Type:

• Steel drums   dominated the market in 2024 due to their durability, reusability, and suitability for storing both hazardous and non-hazardous materials in industries like petroleum and lubricants.
• Plastic and fiber drums   also serve niche storage and transport needs but held a smaller share.

By Capacity:

• 100 to 250 liters   segment led the market in 2024, favored for its durability and compatibility with a wide range of industrial liquids, including solvents and lab chemicals.
• Other segments include   less than 100L,   251–500L, and   above 500L, with varying uses across industries.

By End-use Industry:

• Automotive industry   was the largest end-user in 2024, using lubricant drums to ensure vehicle performance, reduce friction, and extend engine life.
• Other key sectors include   aerospace,   marine, and   others   (e.g., industrial machinery).

Market Drivers:

• Growing Automotive Sector : Rising vehicle production and maintenance demand are driving lubricant consumption, boosting demand for storage and transport solutions like drums.
• Industrial Expansion : Increasing use of lubricants in machinery, manufacturing, and energy sectors is accelerating demand for durable and safe storage drums.
• Durability & Reusability : Steel drums are preferred due to their robustness, recyclability, and compliance with safety regulations.
• Environmental Standards : Growing emphasis on sustainable packaging is pushing manufacturers to offer eco-friendly and reusable drum solutions.

Industry Development:

• 
  

  March 2023:   Mauser Packaging Solutions expanded its operations in China by opening a new advanced manufacturing facility near Shanghai to meet the rising demand for industrial packaging.

• 
  

  May 2022:   Carré Karton introduced all-fiber drums designed to lower costs and reduce environmental impact, offering a sustainable alternative to traditional multi-material drum models.

List of the Companies Profiled in the Market:

• Greif, Inc. (U.S.)
• Mauser Packaging Solutions (U.S.)
• Sicagen (India)
• CL Smith (U.S.)
• Balmer Lawrie & Co. Ltd. (India)
• North Coast Container LLC (U.S.)
• TPL Plastech Limited (India)
• CDF Corporation (U.S.)
• Schütz GmbH & Co. KgaA (Germany)
• Emirates Plastic Industry Factory LLC (UAE)
• Shanghai Metal Corporation (China)
• Wuxi Bright Packing Co., Ltd. (China)
• Pyramid Technoplast Ltd. (India)
• Yamamoto Industries, Ltd. (Japan)

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According to Fortune Business Insights the global methanol market was valued at USD 31.26 billion in 2023 and is projected to reach USD 46.32 billion by 2032, growing from USD 32.70 billion in 2024 at a compound annual growth rate (CAGR) of 4.5% during the forecast period. The global methanol market is set to grow astonishingly backed by the rising shift of the transportation industry towards methanol-powered vehicles. The main reason for this is that methyl alcohol reduces the emissions of carbon dioxide in the atmosphere.

Methanol is a colorless, volatile, and flammable liquid with a smell similar to ethanol. Due to its toxicity, it is often blended with ethanol to create denatured alcohol for industrial use. Its growing use as a feedstock in producing chemicals like solvents and plastics, along with the shift toward sustainable fuels, is expected to boost market growth. Its versatility supports a wide range of applications in a rapidly evolving global market.

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Segmentations:

Formaldehyde Segment to Grow Rapidly Fueled by Increasing Demand from Multiple Industries

Based on derivatives, the market is segregated into solvent, MTO/MTP, biodiesel, gasoline blending, DME, MTBE, acetic acid, formaldehyde, and others. Out of these, the acetic acid segment held 5.4% in terms of methanol market share in 2019. The formaldehyde segment is likely to be the largest throughout the forthcoming years owing to their high demand from a wide range of industries, such as textile, automobile, and construction.

Report Coverage:

The research report studies decisive segments of the methyl alcohol industry containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. In addition to this, it will help our clients to accurately determine the market size to guide them in choosing the right segment for their business growth.

Drivers & Restraints:

Surging Usage as a Precursor in Plastics and Textiles to Bolster Growth

The high demand for the product from the construction and automotive industries is set to surge its usage across the globe. The chemical compound is often used in insulation materials, adhesives, textiles, and plastics as a precursor. However, the consumption of inhalation of this chemical can result in death, accumulation of acids in blood, and blindness. It may obstruct the methanol market growth in the near future.

Regional Insights:

Asia Pacific to Remain at Forefront Stoked by Expansion of Construction Industry

Geographically, in 2020, Asia Pacific held USD 17.60 billion in terms of revenue. It is set to be the major contributor to the growth of the industry because of the rapid expansion of the construction and automotive industries. In North America, on the other hand, the higher demand for this chemical compound from green fuel manufacturers would propel growth. Europe is likely to grow considerably on account of the expansion of the automotive industry.

Competitive Landscape:

Key Players Focus on Forming Joint Ventures with Others to Intensify Competition

The global market contains many companies, out of which, most of them are participating in acquisitions, mergers, and joint venture strategies. A few others are focusing more on expanding their production capacities to meet the high consumer demand.

List of the Companies Profiled in the Market:

• Methanex Corporation (Canada)
• HELM AG (Germany)
• Southern Chemical Corporation (U.S.)
• SABIC (Saudi Arabia)
• Mitsubishi Gas Chemical Company, Inc. (Japan)
• Zagros Petroleum(Iran)
• PETRONAS (Malaysia)
• Mitsui & Co., Ltd. (Japan)
• Celanese Corporation (U.S.)
• BASF SE (Germany)
• Simalin Chemical Industries Pvt. Ltd. (India)
• Other Players

KEY INDUSTRY DEVELOPMENTS:

• June 2018 : Southern Chemical Corporation (SCC), Proman AG, and Helm AG formed a joint venture named Helm Proman Methanol AG to accelerate their methanol-based marketing activities. The newly formed company is headquartered in Switzerland. SCC will hold 5% share, while Proman AG will hold 38% and Helm AG will have 57% shares.

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According to Fortune Business Insights the global carbon fiber market was valued at USD 2.65 billion in 2023 and is expected to reach USD 6.54 billion by 2032, growing from USD 2.82 billion in 2024 at a CAGR of 11.1% during the forecast period. Carbon fiber, also called graphite fiber, is made from carbon atoms and has very thin strands, about five to ten micrometers wide. It is known for being very strong yet lightweight, with high stiffness, excellent resistance to heat and chemicals, low expansion when heated, and the ability to handle a lot of tension without breaking.

Fortune Business Insights™  provides this information in its research report, titled  “Carbon Fiber Market, 2025-2032”.

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Segmentation:

On the basis of precursor, the market is divided into PAN and pitch.

In terms of the tow, the market is classified into small tow and large tow. The small tow segment accounted for the major share in 2020.

By application, the market is categorized into aviation, aerospace & defense, automotive, wind turbines, sports & leisure, construction, and others.

Geographically, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report delivers comprehensive insights to provide the estimated size of the worldwide carbon fiber market. The data utilized to predict the shares for the different segments at the local and global levels is acquired through in-depth interviews with industry professionals. The report also offers coverage of the latest market trends, key market players, ongoing developments, and future predictions.

Drivers and Restraints

Surging Product Usage in Automotive Industries to Fuel Market Growth

Surging car production, coupled with the rising requirement for lightweight vehicles, is probable to drive the market growth. The growing demand from manufacturers to manufacture automobile body parts such as hoods, bumper beams, deck lids, and fenders may favor the product demand. Accepting carbon fibers upsurges the vehicle's sturdiness, thus safeguarding the long life cycle of the automobile's body parts. Composites are principally utilized in motorsports and luxury vehicles, which are directing the carbon fiber market growth.

Regional Insights:

Europe was worth USD 0.76 billion in 2020 and is projected to hold the majority of carbon fiber market share during the forecast period. This is accredited to the existence of a huge base of electric car manufacturers and the rising demand for lightweight and fuel-operative vehicles.

The surging demand for lightweight composite materials in the aviation sector is probable to drive the North American market size.

The occurrence of vital players in the Asia Pacific region has generate a prime market prospect in the construction business, thereby fueling the construction composite market growth.

Competitive Landscape:

Key Companies Aim to Intensify Competition through Acquisitions and New Product Launches

The global market for carbon fiber houses several companies, such as Teijin Limited, Toray Industries, and ZOLTEK Corporation. They are majorly focusing on purchasing local firms, launching state-of-the-art products, or partnering up with reputed organizations. Below is one of the latest industry developments:

• December 2023   – Teijin Limited launched its Tenax Carbon Fiber made using sustainable acrylonitrile (AN), derived from recycled materials or biomass-based waste, supporting eco-friendly production practices.
• October 2023   – Toray Industries Inc. expanded production capacity for high modulus and regular tow medium carbon fibers at its French subsidiary, Toray Carbon Fibers Europe S.A., to meet the growing demand for carbon fiber in Europe driven by the push toward a net-zero future.

List of Top Carbon Fiber Companies:

• Toray Industries, Inc. (Japan)
• Syensqo (Belgium)
• Nippon Graphite Fiber Co., Ltd. (Japan)
• TEIJIN LIMITED (Japan)
• Hexcel Corporation (U.S.)
• ZOLTEK Corporation (U.S.)
• HYOSUNG ADVANCED MATERIALS (South Korea)
• Advanced Composites Inc. (U.S.)
• Mitsubishi Chemical Carbon Fiber and Composites, Inc. (U.S.)
• Formosa M Co., Ltd. (South Korea)
• SGL Carbon (Germany)

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According to Fortune Business Insights the global antimony market was valued at USD 1.01 billion in 2023 and is expected to increase from USD 1.08 billion in 2024 to USD 1.78 billion by 2032, registering a compound annual growth rate (CAGR) of 6.5% during the forecast period. Significant demand for the element from chemical manufacturing and the rising industrial demand may foster the market’s growth. Fortune Business Insights™ presents this information in its report titled “Antimony Market, 2025-2032.”

Antimony (Sb) is a silver-grey chemical element with a glossy and silky surface. It is an extremely rare element in the earth’s crust. It is used to harden lead alloys in pyrotechnics, semiconductor technology, sheet and pipe, collapsible tubes and foil, solder, bearing metal, type metal, storage cables and batteries, and solder. The rising demand for the chemical from the chemical manufacturing sector may foster the industry's growth. Furthermore, the rising industrial demand for high-quality chemicals may foster its sales. These factors may propel industry growth during the upcoming years.

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Segmentation:

By application, the market is segmented into flame retardants, chemicals & alloys, lead-acid batteries, ceramics & glass, and others. Regionally, it is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints:

Strong Adoption of Flame Retardants May Foster Industry Growth

The chemical is physically blended and inserted into several products and textiles. It is used in paints, rubbers, textiles, children’s clothing, and industrial safety is expected to boost the industry progress. Further, strict government regulations by the Occupational Safety and Health Administration OSHA for adopting flame retardant clothing are expected to boost the market development. Moreover, increasing investments in the development of effective chemicals may foster industry progress. These factors may incite antimony market growth.

However, the availability of substitutes may hinder the industry growth.

Regional Insights:

Presence of a Huge Production Base to Foster Market Growth in Asia Pacific

Asia Pacific is expected to dominate the antimony market share because of the presence of a huge production base. The market in Asia Pacific stood at USD 0.6 billion in 2021 and is expected to gain a huge market share in the upcoming years. Furthermore, the presence of a huge reserve in China may facilitate the adoption of the element. These factors may propel industry development.

In Europe, substantial production of antimony oxide may boost the adoption of the chemical. Furthermore, robust demand for lead-acid batteries may fuel the adoption of the chemical. These factors may propel industry progress.

In North America, the rising demand for flame retardants is expected to boost the adoption of flame retardants. Further, strong demand from the electronics sector may foster the market’s progress.

Competitive Landscape:

Manufacturers Devise Expansion Strategies to Boost Market Presence Globally

Prominent companies operating in the market devise expansion strategies to boost market presence and increase sales. For example, Campine utilized advanced technology to expand its recycling efforts in January 2021. This development was undertaken to recycle chemicals from industrial and post-consumer metal trash. This strategy may boost its market reach, attract consumers, and enhance its market reach. Furthermore, companies adopt research and development, mergers, acquisitions, partnerships, and automated production techniques to recover costs and boost their market position.

Industry Development:

• December 2021:   NAFRA, alongside two universities, began a project to develop recycling and recovery for antimony and bromine from flame retardant plastics.

List of Key Players Profiled in the Antimony Market Report:

• Campine NV (Antwerp, Belgium)
• Huachang Antimony Industry (Yiyang, China)
• United States Antimony Corp (Montana, U.S.)
• Korea Zinc Co. Ltd, (Seoul, South Korea)
• Lambert Metals International (Bushey, U.K.)
• Mandalay Resources Ltd (Toronto, Canada)
• NYACOL Nano Technologies (Massachusetts. U.S.)
• Suzuhiro Chemical & Materials (Ibaraki, Japan)

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The global paper packaging market was valued at USD 376.53 billion in 2024 and is expected to reach USD 506.59 billion by 2032, growing from USD 392.28 billion in 2025 at a CAGR of 3.72% during the forecast period. Paper packaging refers to the packaging that deploys boards and paper. The market growth can be credited to the growing demand for paper-based flexible packaging, which is attributed to the increasing buyer awareness regarding the unfavorable impact of plastic on the environment.

Fortune Business Insights™   provides this information in its research report, titled   “Paper Packaging Market, 2025-2032”.

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Segmentation:

Presence of Corrugated Board in Different Coatings to Impel Segment Growth

Based on material, the market is classified into kraft paper, corrugated board, molded pump, specialty paper, and others. The corrugated board segment registers the largest share in the market. The corrugated board is available in different coatings, flame-resistant features, weights, and types. This factor is spurring the corrugated board segment growth.

Lightweight Attribute of Packaging Solutions to Boost the Corrugated Boxes Segment Expansion

In terms of packaging type, the market is segregated into folding cartons, wraps, corrugated boxes, bags & sacks, cups & trays, and others. The corrugated boxes segment accounts for the largest paper packaging market share. The sustainability of packaging solutions and their lightweight nature aid in minimizing the shipping cost. This factor is fueling the corrugated boxes segment growth.

Technological Advancements in Food & Beverage Packaging to Proliferate the Segment Growth

With respect to end-use industry, the market is classified into home care, e-commerce, automotive & industrial, food & beverage, healthcare, electrical & electronic, personal care & cosmetic, and others. The food & beverage segment accounts for the largest share. The technological development in food & beverage packaging, such as coated paper and wraps, which aid in the prevention of leakage, is fueling the segment expansion.

Regionally, the market is divided into the Middle East & Africa, Latin America, North America, Europe, and Asia Pacific.

Report Coverage:

The significant driving and restraining factors affecting the market growth have been mentioned in the report. It further offers detailed insights into the strategic initiatives undertaken by key companies to gain a competitive advantage. Other aspects of the report include the latest trends, key industry developments, and the COVID-19 pandemic impact.

Drivers and Restraints:

Surging Product Utilization   in the Pharmaceutical Industry to Spur Market Growth

A rise in the utilization of the product in the pharmaceutical industry drives the paper packaging market growth. Packaging manufacturers have a major emphasis on the deployment of recycled material and more sustainable packaging solutions.

Despite such growth opportunities, the stringent environmental regulations related to deforestation owing to the extraction of raw materials for paper production may hinder market growth.

Key Industry Development:

March 2023 –   Electrolux Group announced the release of recycled and paper-based packaging with 70% less ink to minimize the impact on the environment.

List of Key Players Mentioned in the Report:

• DS Smith PLC (U.K.)
• Georgia-Pacific Corporation (U.S.)
• WestRock Company (U.S.)
• Mondi Group Plc (U.K.)
• Hood Packaging Corporation (U.S.)
• Smurfit Kappa (Ireland)
• Napco National (Saudi Arabia)
• Billerud (Sweden)
• Stora Enso Oyj (Finland)
• Rengo Co. Ltd. (Japan)

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The global flavors and fragrances market is witnessing steady growth driven by the rising demand across the food & beverage, cosmetics, personal care, and household products industries. The global flavors and fragrances market was valued at USD 27.50 billion in 2023 and is expected to grow to USD 42.27 billion by 2032, rising from USD 28.72 billion in 2024. This growth reflects a compound annual growth rate (CAGR) of 5.0% during the forecast period. This expansion reflects shifting consumer preferences toward natural, sustainable, and customized sensory experiences.

The market is primarily fueled by increasing consumer inclination toward premium and functional products. In food and beverages, flavor innovation plays a crucial role in product differentiation, while in personal care and cosmetics, unique fragrance profiles enhance brand identity and consumer appeal. Additionally, the expansion of e-commerce and private label brands has intensified the need for signature scents and taste profiles, further supporting market growth.

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Segments:

Flavors Segment to Lead the Market Due to its Unique Properties

By type, the market is bifurcated into flavors and fragrances. The flavors segment is further categorized into natural and synthetic. The fragrances segment is also divided into natural and synthetic.

Food & Beverage Sub-Segment to Dominate the Market

Based on type (cross application), the market is segregated into flavors used in the food & beverage sector for beverages, bakery, confectionery, dairy, and others. These flavors are also used in pharmaceuticals and other sectors. The fragrance segment is further classified into fine fragrances, cosmetics & personal care, home & floor care, and others.

Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

List of Key Players Profiled in   the   Flavors and Fragrances Market   Report :

• Givaudan (Switzerland)
• International Flavors and Fragrances (IFF) (U.S.)
• Symrise AG (Germany)
• Robertet Group (France)
• Kerry Group plc (Ireland)
• Sensient Technologies (U.S.)
• Firmenich SA (Switzerland)
• Takasago International Corp (Japan)
• Hasegawa Co., Ltd. (Japan)
• Mane (France)
• Archer Daniel Midland Company (U.S.)
• Solvay S.A. (Belgium)
• BASF (Germany)

Report Coverage:

The report sheds light on the current market state and recent developments in the market. The impact of COVID-19 pandemic on the market growth is highlighted in this report. Furthermore, the report sheds light on drivers and restraints affecting the market development and expansion during the forecast period. Also, a list of key market players is given, along with the regional insights on segmented market areas.

Drivers:

Increasing Demand from Cosmetic Industry to Drive Market

The prevailing trend of ready-to-eat and convenience food products have propelled companies to introduce innovative flavors into the food and beverage industry. The increasing demand for innovative products from the food and beverage industry is a major factor boosting the flavors and fragrances market growth. In addition to this, there is a rise in demand for scented soaps, detergents, toiletries, and cosmetics, and perfumes, owing to the rise in modernization and the adoption of higher living standards among people. Therefore, the increasing demand from the cosmetic industry will also add impetus to the overall market in the forecast period.

Competitive Landscape:

New Product Launch Allows Key Market Players to Enhance their Product Portfolio

The key market players acquire various companies operating in the industry to improve their business performance. Also, rising investments in the adoption of technological advancements and R&D activities allow the leading market players to introduce new product ranges to the global market and increase business profitability.

Key Industry Developments:

• 
  

  December 2023 : Robertet Group acquired Sonarome, a Bangalore-based flavors and fragrances manufacturer, to strengthen its product portfolio and expand its presence across India, Southeast Asia, and East Africa.

• 
  

  April 2023 : Givaudan finalized the acquisition of a significant cosmetic ingredients portfolio from Amyris, Inc., enhancing its position in biotechnology. This move allows Givaudan to utilize Amyris’ advanced technology platform for the development and production of high-performance bio-fermented ingredients.

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Competitive Landscape:

New Product Launch Allows Key Market Players to Enhance their Product Portfolio

The key market players acquire various companies operating in the industry to improve their business performance. Also, rising investments in the adoption of technological advancements and R&D activities allow the leading market players to introduce new product ranges to the global market and increase business profitability.

Key Industry Development:

• March 2022:   Symrise submitted a binding offer to acquire R. Romani - Société Française d’Aromatiques (SFA Romani) and Neroli Invest DL (Groupe Neroli). Both companies are based in the Grasse area in France. With these transactions, Symrise intends to reinforce its fine fragrance presence in southern France, strengthen its competitiveness in creating fragrance compositions, and broaden its presence in key countries in Europe, Africa, and the Middle East.

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About Us:

Fortune Business Insights™  delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email:  sales@fortunebusinessinsights.com

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