The global conformal coatings market size was valued at USD 992.1 million in 2023 and is projected to grow from USD 1,047.1 million in 2024 to USD 1,647.9 million by 2032, exhibiting a CAGR of 5.8% during the forecast period. Robust adoption of the electric automotive sector and increasing miniaturization trends are likely to foster the industry’s growth. Fortune Business Insights ™ presents this information in its report titled “ Conformal Coatings Market, 2025-2032. ”
Conformal coatings are thin polymeric film materials applied to the printed circuit boards to protect them from external forces such as chemicals, moisture, and extreme temperature. Additionally, they aid in protecting the boards from mould growth, corrosion, and other electrical failures. Owing to their super properties, they are in huge demand across several industrial applications that include automotive, aerospace & defense, and electronics.
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Segments
Acrylic Segment to Lead Owing to Strong Adoption from the Electronic Manufacturing Industry
By product, the market is segmented into acrylic, epoxy, urethane, silicone, parylene, and others. The acrylic segment is expected to dominate, owing to robust demand from the electronic manufacturing industry.
Consumer Electronics Segment to Lead Owing to Strong Demand for Miniaturized Electronic Applications
As per end-use industry, the market is classified into automotive, medical, aerospace & defense, consumer electronics, and others. The consumer electronics segment may dominate due to increasing demand for miniaturized electronic applications.
Regionally, the market is grouped 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 Demand from Consumer Electronics Industry to Foster Market Growth
Conformal coatings are polymer-based materials applied on PCB. It is a thin layer that protects several products at hand. The increasing demand for conformal coatings from the consumer electronics industry may bolster the product adoption. Further, the extensive adoption of coatings from automotive, consumer electronics, and other industries may bolster the product adoption. Also, the rising implementation of novel technologies such as Artificial Intelligence (AI) and Machine Learning (ML) is anticipated to drive the conformal coatings market growth.
However, strict environmental regulations by governments may hinder the industry’s progress.
Competitive Landscape
Major Players Devise Novel Product Launches to Enhance their Brand Image
The prominent companies operating in the market announce novel products to boost their brand image. For example, Electrolube introduced its novel UV Cure Coating Xtra (UVCLX) in October 2021. The product is developed by utilizing organic content sourced from renewable means. This strategy may enable the company to boost its brand image globally. Furthermore, key players deploy research and development, mergers, expansions, acquisitions, and expansions to elevate their market position.
Key Industry Development
- March 2022: HumiSeal announced UV500-2 conformal coating with PCB protection developed to offer additional performance under mechanical and thermal cycling testing for white goods and automotive sectors.
List of the Companies Operating in the Global Market for Conformal Coatings:
- Chemtronics (South Korea)
- Henkel AG & Company (Germany)
- Shin-Etsu Chemical Co., Ltd (Japan)
- Dow (U.S.)
- Chase Corporation (U.S.)
- Dymax Corporation (S.)
- Specialty Coating Systems (U.S.)
- Electrolube (K.)
- B. Fuller (U.S.)
- G. Chemicals (Canada)
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The global atmospheric water generator market size was valued at USD 1,940.8 million in 2019 and is projected to reach USD 6,214.9 million by 2027, exhibiting a CAGR of 18.1% during the forecast period. Atmospheric water generators (AWGs), or air-to-water systems, extract water from moisture in the air using refrigerants or desiccants based on latent heat principles.
Highlights of the Report
- A comprehensive overview of the atmospheric water generator market
- Key drivers, restraints, challenges, and future opportunities
- Significant industry developments, and current trends of the market
- Table of segmentation based on factors such as product type, application, and region
- List of players and the major strategies adopted to earn significance in the market competition
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Drivers & Restraints-
Advent of Smart Technology into Water Generators to Add Impetus
The rise in industrialization and urbanization have led machines to overpower natural habitat. A decline in freshwater sources has been observed so as to provide more space for new buildings and recreational spaces. The decline in the level of freshwater sources, coupled with the increasing industrialization and urbanization are the key factors promoting the atmospheric water generator market growth. Besides this, the stringent regulations imposed on environment and water safety will also aid in favor of the market.
However, the rise in carbon footprint and the high requirement for power generation to suffice to the needs of all residential, commercial, and industrial sectors may pose major challenges to the market in the coming years. Nevertheless, the advent of technological innovations such as smart technology, cooling condensation wet desiccation, and others are likely to help create lucrative growth opportunities to the market in the coming years.
Industrial Segment Gained Dominance Owing to High Demand for Water
The global market for atmospheric water generator is dominated by the industrial section based on segmentation by application with a 74.5% share earned in 2019. The growth of this section is attributed to the large quantity of water used in industries and manufacturing units. Large scale industries are now acquiring economical and sustainable water solutions such as atmospheric water generator to meet the increasing demand for water.
Regional Analysis-
The Middle East and Africa Dominated Market Owing to Extreme Water Scarcity
The weather conditions in the Middle East and Africa is majorly responsible for scarcity of water. The aforementioned regions are heavily dependent on desalination plants and water bottles to suffice to their daily needs. The use of air to water systems in this region helps this region to produce more potable water more economically. Therefore, this region dominated the market in 2019 and are likely to continue doing so in the coming years as well.
Additionally, North America earned 217.8 million in 2019 and Asia Pacific is expected to rise at a CAGR of 21.1% in the forecast period accountable to the increasing water scarcity problems in South-east Asian Nations.
Competitive Landscape-
Companies Introducing New Products to Earn Lion’s Share
Some of the companies operating in this market are engaging in new product launches and are therefore investing heavily in latest technology. Other vendors are engaging in joint ventures and partnerships to collaboratively earn significant revenues, thereby making a significant remark in the market competition.
Significant Industry Developments of the Atmospheric Water Generators Market are:
December 2019 – GENAQ Technologies S.L. showcased their air generators in the largest building and construction event called “The Big 5” in the Middle East. It also promoted the S50 generator and provided brief information on air and water technologies .
Some of the Key Players of this Market include:
- Water-Gen Ltd. (North Carolina, USA)
- Akvosphere (West Bengal, India)
- Drinkable Air Technologies (Florida, USA)
- Eshara Water (Abu Dhabi, UAE)
- Water Technologies International, Inc. (Florida, USA)
- Clean Wave Products (USA)
- Atmospheric Water Generator, LLC (Florida, USA)
- GENAQ Technologies S.L. (Lucena, Spain)
- Zhongling Xinquan (Fujian) Air Drinking Water Technology Co., Ltd. (Fujian Province, China)
- Atlantis Solar (New York, USA)
- Island Sky Corporation (Florida, USA)
- WaterMaker India Pvt. Ltd. (Maharashtra, India)
- Dew Point Manufacturing (British Columbia, Canada)
- PlanetsWater Ltd. (London, U.K.)
- Eurosport Active World Corporation (Florida, USA)
- Others
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The global custom packaging market size was valued at USD 43.88 billion in 2023. The market is projected to grow from USD 45.92 billion in 2024 to USD 71.10 billion by 2032, exhibiting a CAGR of 5.62% during the forecast period. Custom packaging refers to the using various packaging techniques and methods to make a product as per customers’ requirements. Such packaging solutions reduce the need to use additional packaging, thereby saving companies a lot of time and cost. Using custom packaging solutions can help organizations improve their customers’ shopping experience and boost their brand image and value in the market. Such features are expected to bolster the custom packaging market growth.
Fortune Business Insights™ displays this information in a report titled, "Custom Packaging Market, 2025-2032."
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Segmentation:
Paper & Paperboard Materials to be Widely Used to Create Attractive Packaging Solutions
Based on material, the market is segmented into paper & paperboard, plastic, metal, and glass. The paper & paperboard material segment holds the largest global custom packaging market share as these materials are considered ideal for making attractive and personalized gift boxes and other packaging products.
Customized Boxes to Offer Eye-Catching Packaging and High Protection, Boosting Market Growth
In terms of packaging type, the market is segmented into boxes, bottles, containers, jars, bags, pouches, corks, cartons, mailers, and others. The boxes segment is dominating the market as these products offer attractive packaging solutions and robust protection to a product against damage.
Food & Beverage Industry to be Major End-User of Customized Packaging Solutions
Based on end user, the market covers food & beverages, electrical & electronics, healthcare, personal care & cosmetics, consumer goods, fashion accessories & apparel, and others. The food & beverage end-use segment is estimated to hold a leading market share as end-users in this industry extensively use attractive packaging products to pack pre-cooked foods and beverages. This helps them attract more customers and increase their profit margins.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides an in-depth analysis of the market and highlights important areas, such as key organizations, prevalent marketing strategies, porters five forces analysis, competition landscape, top product/service types, and leading applications of the product. The report also offers insights into the latest market trends and covers key industry developments. Besides the abovementioned factors, the report encompasses many factors that have contributed to the market's growth in recent years.
Drivers and Restraints:
Growing Preference for Attractive Packaging Solutions to Improve Market Growth
Many companies are opting for customized packaging solutions as they are considered the most ideal way to ship fragile products or items that have a unique design and shape. The market is witnessing notable growth as the demand for attractive packaging solutions is rising across the world. Such packaging solutions can not only make products look more appealing to customers but also help companies expand their customer base. Such factors are expected to drive the market growth.
However, the upfront investments in these products are quite high and designing and developing customized products consume a lot of time and effort. These aspects can restrain the market’s development.
Regional Insights:
North America Market to Record Strong Growth Due to Presence of Reputed Packaging Companies
North America is expected to dominate the market as the region has a vast presence of leading companies that specialize in personalized packaging solutions. The regional industry is constantly introducing innovative technologies, which will further fuel the regional market growth.
Europe is anticipated to be the fastest-growing region as the demand for attractive packaging solutions is rising from the region’s cosmetics sector.
Competitive Landscape:
Key Market Players to Offer Innovative Packaging Solutions to Boost Market Presence
The market has a notable presence of a few key players that have held a dominant position in the market. These companies are providing advanced packaging solutions for the packaging industry. They are also trying to expand their customer base in different regions and upgrade their current product ranges to expand their market revenue.
Notable Industry Development:
- January 2023 – BRANDMYDISPO launched custom Mylar bag design services at no extra cost, focusing on durability and longevity.
- November 2022 – Unico Packing introduced a one-stop solution for custom rigid gift boxes, including drawer, cosmetic, magnetic close, jewelry, collapsible boxes, and other printing services.
List of Key Players Profiled in the Market Report:
- Smurfit Kappa Group (Ireland)
- Glenroy Inc. (U.S.)
- ProAmpac (U.S.)
- Owens Illinois (U.S.)
- Packlane (U.S.)
- Huhtamaki (Finland)
- PakFactory (Canada)
- DS Smith (U.K.)
- Westrock Company (U.S.)
- International Custom Packaging (U.S.)
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The global resin market size was USD 593.94 billion in 2024. The market is projected to grow from USD 623.27 billion in 2025 to USD 875.41 billion by 2032 at a CAGR of 5.0% during the forecast period. Resin is typically a solid or highly viscous material obtained from plants or artificially produced in a lab. The increasing need for polypropylene in the automotive and construction sectors is expected to drive the market’s growth. Fortune Business Insights presents this information in their report titled "Global Resin Market, 2025–2032." The report further mentions that the automotive industry is exhibiting an increasing demand owing to the ongoing resin market trend of light weight vehicles.
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Segments:
Dominant Role of Polyethylene (PE) and Polypropylene (PP) in Market Driven by Automotive and Healthcare Industries
Based on type, the market is segmented into polyurethane, acrylonitrile butadiene styrene (ABS), polyethylene (PE), polystyrene, polypropylene (PP), polyethylene terephthalate (PET), polycarbonate, polyvinyl chloride (PVC), polyamide, and others. PE (polyethylene) and PP (polypropylene) are the dominant materials in this segment, primarily driven by increased demand from the automotive and healthcare industries. These materials possess desirable properties, including mold-ability, chemical, electrical, impact, and heat resistance.
Packaging Sector Poised for Rapid Growth, Ensuring Product Safety and Market Appeal
Based on end-use industries, the market is segmented into agriculture, automotive & transportation, building & construction, packaging, consumer goods/lifestyle, electrical & electronics, and others.
The packaging industry is projected to experience the highest growth among various end-use sectors in the forecast period. Several industries require effective packaging to ensure product safety, convenience, and market appeal, contributing packaging segment’s rapid expansion.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Digital Transformation and Changing Consumer Preferences Drive Growth in Plastic Packaging Demand
Pharmaceutical and electrical & electronics industries have embraced digital platforms to enhance customer support, service, and product sales, contributing to the increased demand for plastic packaging. Simultaneously, the food & beverage sector favors flexible packaging, driven by the growing popularity of convenience foods such as frozen and ready-to-eat meals. These developments are anticipated to propel the packaging solutions market, leading to a surge in demand for plastic packaging materials.
On the contrary, fluctuation in oil prices may stifle the resin market growth.
Regional Insights
Asia Pacific Leads Plastic Market, with China and India as Key Contributors
Asia Pacific emerged as the frontrunner recording a market value of USD 268.20 billion in 2022. This dominant position is expected to be sustained in the coming years, primarily driven by the presence of major plastic-producing and consuming nations such as China and India.
In Europe, the market growth for resin is predominantly fueled by the automotive industry's escalating demand for plastics. The increasing consumption of plastics in automotive applications has become a significant factor driving the plastic market's expansion in the region.
Competitive Landscape
Fragmented Competitive Landscape Drives Expansion of High-Performance Polymers Market
The market’s competitive landscape for high-performance polymers and compounds is characterized by fragmentation, with multiple key players vying for the resin market share. These players are actively expanding their production capabilities to cater to the growing demand and enhance their regional presence.
Key Industry Development:
- August 2022 - Ashland, a global additive and specialty chemicals manufacturing company, declared a strategically important expansion of Viatel, a bioresorbable polymer manufacturing and R&D site at the National Science Park in Mullingar, Ireland.
List of Key Players Profiled in the Market Report:
- DuPont (U.S.)
- Arkema (France)
- BASF SE (Germany)
- INEOS Holdings Ltd. (U.K.)
- Hexion (U.S.)
- Invista (U.S.)
- LyondellBasell (Netherlands)
- Qenos (Australia)
- Radici Group (Italy)
- SABIC (Saudi Arabia)
- Repsol (Spain)
- Sumitomo Chemical Co. Ltd. (Japan)
- Teijin Limited (Japan)
- Tosoh Corporation (Japan)
- Toray Group (Japan)
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Industry Analysis: Carbon Black Market Share, Size and Forecast through 2032
By Pallavi G, 2025-08-29
The global carbon black market size was valued at USD 27.59 billion in 2024. The market is projected to grow from USD 28.86 billion in 2025 to USD 40.10 billion by 2032, exhibiting a CAGR of 4.8% during the forecast period. The rise is driven by the increasing deployment of the product in tire manufacturing and the growing plastic demand for automotive, consumer goods, and electronics industries. The market by application is segmented into tires, high-performance coatings, plastics, and others. Tires hold the largest share as carbon black enhances their strength and durability. Rising demand in paints, coatings, inks, and industrial rubber for construction and manufacturing is further driving market growth.
Fortune Business Insights™ provides this information in its research report, titled “Carbon Black Market, 2025-2032”.
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Segments:
Furnace Black Segment to Lead Driven by Soaring Demand from Rubber Manufacturers
Based on process type, the market is categorized into acetylene black, furnace black, thermal black, and others. The furnace black segment is set to lead the market, exhibiting an appreciable CAGR over the projected period. This is due to the growing usage of the product as a strengthening agent by rubber producers.
Standard Grade Segment to Register Notable Growth Impelled by Escalating Industrial Applications
On the basis of grade, the market is segmented into standard grade and specialty grade. The standard grade segment is touted to expand at a considerable rate over the anticipated period. The surge is propelled by the escalating adoption of these products for various industrial applications.
Tire Segment to Exhibit Substantial Surge Driven by Rapid Expansion of the Automotive Sector
By application, the market is classified into non-tire rubber, tire, inks & toners, plastics, and others. The tire segment is poised to exhibit substantial growth, holding a dominating market share, over the analysis period. The expansion is propelled by the rapid expansion in the automotive sector.
Based on geography, the market for carbon black has been studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Report Coverage:
The report gives a comprehensive analysis of the major trends poised to impel the global business scenario throughout the projected period. It further provides an insight into the key driving and restraining factors. Additional components comprise the impact of COVID-19 on industry growth and an account of the pivotal strategies adopted by leading companies for gaining strong industry footings.
Drivers and Restraints:
Expansion of the Rubber Sector to Impel Market Growth
The escalating product demand from the consumer goods, electronics, automotive, and construction sectors is propelling the expansion of the rubber sector. This is set to propel the carbon black market growth over the forecast period.
However, the production of carbon black involves the emission of hazardous gases. This may hinder industry expansion to some extent.
Regional Insights:
Asia Pacific to Emerge as a Key Region Owing to Growing Product Deployment
The Asia Pacific carbon black market share is estimated to surge at a considerable rate throughout the forecast period. The region held a major market value driven by the escalating usage of the product in the manufacturing of plastic goods and tire.
The North America market is poised to expand at a notable CAGR over the analysis period. The expansion is driven by the soaring product deployment in vibration isolation devices.
Competitive Landscape:
Leading Companies Undertake Strategic Steps to Strengthen Industry Foothold
Key carbon black players are centered on adopting various strategic deals for strengthening their positions in the market. These comprise merger agreements, partnerships, acquisitions, and the launch of new products. Additional initiatives include collaborations and the formation of alliances.
Key Industry Development:
March 2022 – Cabot Corporation acquired Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Group. The deal helped the expansion of the manufacturing capacity of Cabot. The company planned to invest for capacity upgradation for supporting the development of lithium-ion batteries.
List of Key Players Mentioned in the Report:
- Birla Carbon Thailand Public Co. Ltd. (Thailand)
- Cabot Corporation (U.S.)
- Orion Engineered Carbons SA (Germany)
- Phillips Carbon Black Limited (India)
- CSRC Group (Taiwan)
- Omsk Carbon Group (Germany)
- OCI COMPANY Ltd. (South Korea)
- Himadri Speciality Chemicals Ltd. (India)
- Longxing Chemical Industry Co., Ltd. (China)
- Mitsubishi Chemical Holdings Corporation (Japan)
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The global hermetic packaging market size was valued at USD 4.21 billion in 2024. The market is projected to grow from USD 4.50 billion in 2025 to USD 7.31 billion by 2032, exhibiting a CAGR of 7.18% during the forecast period. Hermetic packaging is highly preferred in several medical and electronic devices for safe and reliable packaging. There is rising adoption of electronic devices due to a rise in government support for boosting digitalization and growing internet usage among customers. Rapid innovations in sealing technology are expected to fuel market expansion in the coming years.
Fortune Business Insights™ shares this information in its report titled “ Hermetic Packaging Market, 2025-2032 ”.
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Segments
Increased Need for Complex Electronic Circuits Fuels Ceramic Metal Sealing Segment Growth
On the basis of type, the market is segregated into co-fired ceramic, metal can, epoxy seal, ceramic metal sealing, and glass metal sealing. The ceramic metal sealing segment leads the market. Increased need for complex electronic circuits, including microelectromechanical systems' multilayer ceramic metal sealing, is fostering segment expansion.
Rising Adoption of Suitable Packaging Strategies for Sensor Technologies Fuels Segment Expansion
In terms of application, the market is categorized into sensors, photodiodes, MEMS, transistors, laser chips, memory, and others. The sensors segment secures the largest hermetic packaging market share owing to the rising adoption of suitable packaging strategies for sensor technologies.
Rise in Government and Private Investments in Space Exploration Fosters Aerospace & Defense Segment Expansion
By end-use industry, the market is classified into aerospace & defense, healthcare, automotive, electrical & electronics, telecom, and others. The aerospace & defense segment commands the global market with the rise in government and private investments in space exploration.
From the regional ground, the market is classified into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.
Drivers and Restraints
Increased Demand for Consumer Electronics to Bolster Market Expansion
Increased usage of consumer electronics is boosting the demand for hermetic packaging solutions. Growing purchasing power and rapid economic growth are fueling the sales of smartphones, which will eventually accelerate the demand for hermetic packaging. Rapid innovations in wireless mobile telecommunication technology, such as 4G, IoT, and 5G, are expected to fuel the adoption of other smart devices. The emergence of advanced household products and the growing usage of appliances equipped with voice assistance and Wi-Fi connectivity are the major factors contributing to market growth.
On the other hand, the hermetic packaging market growth is impeded by the emergence of not quite or almost hermetic packaging.
Regional Insights
Rise in Government Budget for the Aerospace & Defense Sector in China and Japan Augmented Market Growth in Asia Pacific
Asia Pacific dominates the global market. A rise in government budgets for the aerospace & defense sector, specifically in China and Japan, is driving market growth in the region.
Europe is predicted to register significant growth due to the presence of the world’s top automotive manufacturers. The increasing R&D activities within the space and automotive sectors are also boosting market growth in the region.
Competitive Landscape
Top Companies Concentrate on Acquisitions to Offer Next-generation Solutions
Key players in the market are TELEDYNE, SCHOTT, Amkor Technology, Inc., KYOCERA Corporation, Materion Corporation, Egide, SGA Technologies, Complete Hermetics, Coat-X SA, Mackin Technologies, and others. Many companies are focusing on acquisitions to offer next-generation solutions to the customers' product designs.
Key Industry Development
- March 2023 : SCHOTT AG introduced hermetic packaging components for augmented reality. With its longstanding experience in glass-to-metal sealing, the company produces innovative packaging solutions for MEMS mirrors and RGB laser chips for augmented reality applications. The packaging solution strives to miniaturize and improve optoelectronic performance for augmented reality light engine systems.
List of Key Players Profiled in the Market Report:
- TELEDYNE (U.S.)
- SCHOTT (Germany)
- Amkor Technology, Inc. (U.S.)
- KYOCERA Corporation (Japan)
- Materion Corporation (U.S.)
- Egide (France)
- SGA Technologies (U.K.)
- Complete Hermetics (U.S.)
- Willow Technologies Ltd. (U.K.)
- Mackin Technologies (Japan)
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The global nylon market size was valued at USD 31.09 billion in 2023 and is projected to grow from USD 32.64 billion in 2024 to USD 48.86 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. This is attributable to the increasing focus on developing innovative products and the growing demand for nylon 66 in the packaging industry across the globe. Fortune Business Insights™, in its latest report, titled, “Nylon Market Size, Share & Industry Analysis, By Type (Nylon 6 {Resin & Fiber}, Nylon 6,6 {Resin & Fiber}), By Application (Automotive, Electrical & Electronics, Appliances, Film & Coating, Wire & Cables, Consumer, Industrial & Machinery, and Others), and Regional Forecast, 2025-2032,”.
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Nylon is a type of polymer that is produced by the reaction between carbon-based chemicals that are usually found in petroleum and coal under high pressure. It is widely adopted to manufacture plastic machine parts and electronics owing to its high tensile strength, non-conductivity, heat resistance, and low-cost properties. Additionally, it is used for manufacturing bolts, screws, nuts, and washers in the automotive industry across the globe.
Segments:
Versatility of Nylon 6 Fibers in Textile Applications Spur’s Market Growth
By type, the market is segmented into Nylon 6 (resin, fiber) and Nylon 6,6 (resin, fiber). Nylon 6 fibers dominate the global market for their strong adoption in the textile industry, offering excellent mechanical strength and wear resistance for various webbing products.
Automotive Sector's Strong Demand for Resins and Fibers Propel Segmental Growth
By application, the market is segregated into automotive, electrical & electronics, appliances, film & coatings, wire & cables, consumer, industrial & machinery, and others.
The automotive segment held the largest nylon market share in 2022, driven by the extensive use of polyamide resin and fibers in various automobile applications such as airbags, injection molded components, and tire cords.
From the regional ground, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
List of the Companies Profiled in the Market:
- DuPont (U.S.)
- BASF SE (Germany)
- Lanxess AG (Germany)
- Nylon Corporation of America, Inc. (NYCOA) (U.S.)
- Shenma Industrial (China)
- Ascend (Thailand)
- Domo Chemicals (Belgium)
- Radici Partecipazioni SpA (Italy)
- Invista (U.S.)
- DSM (The Netherlands)
- Formosa Group (Taiwan)
- SINOPEC (China)
- Ube Industries (Japan)
- LIBOLON (Japan)
- ZIG SHENG INDUSTRIAL CO., LTD. (Taiwan)
- Other
DRIVING FACTORS
Increasing Adoption of Product from the Packaging Industry to Favor Growth
Polymeric products such as nylon 66 have excellent properties such as high elasticity that are extensively adopted across several industries. For instance, they are adopted as films and coatings in the packaging industry owing to their high tensile strength and toughness. The industrial applications include packaging of food and fluids such as oils, grease, and acidic food and they are in great demand across other industrial applications. Additionally, the increasing focus on developing advanced nylon products to cater to the increasing consumer demand is expected to bode well for the growth of the global nylon market in the forthcoming years.
REGIONAL INSIGHTS
Increasing Demand for Films & Coating in Asia-Pacific to Aid Growth
Among all the regions, the market in Asia-Pacific stood at USD 13.92 billion in 2019 and is expected to hold the highest position in the global market during the forecast period. This is attributable to the increasing demand for films and coating from the packaging industry in countries such as India and China in the region.
North America is anticipated to experience significant growth owing to the growing automotive industry and the increasing production of nylon 66 polymers by the manufacturers between 2020 and 2027.
COMPETITVE LANDSCAPE
Major Companies Focus on Product Expansion Facilities to Strengthen Their Market Positions
The global nylon market is fragmented by the presence of several major companies that are focusing on consolidating their positions by expanding their production facilities and cater to the increasing demand for the product across several industrial applications. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration to maintain their presence in the highly competitive global marketplace.
Industry Development
April 2023 : Microwave Chemical and Asahi Kasei launched a demo project to commercialize chemical recycling of Nylon 66 using microwave technology.
April 2023 : Kordsa announced a USD 50 million investment to expand nylon production at its Chattanooga plant to meet rising automotive demand.
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The global flavors and fragrances market size was valued at USD 27.50 billion in 2023 and is projected to grow from USD 28.72 billion in 2024 to USD 42.27 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period. The market is anticipated to grow during the projected period due to rapid development in the pharmaceuticals and cosmetics sector. Fortune Business Insights™ publishes this information in a report titled, " Flavors and Fragrances Market, 2025-2032" .
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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 & Restraints:
Rising Development in Pharmaceuticals & Cosmetics Sector to Propel Growth
The market is expected to witness significant growth during the forecast period due to the developing regional and novel flavors and fragrances. Also, consumers' changing food preferences and tastes and the adoption of ready-to-eat food are anticipated to fuel the regional market growth. Furthermore, growth in the cosmetics and pharmaceuticals sectors is expected to drive market growth.
However, constantly changing prices in various products hamper market growth.
Regional Insights:
Europe Holds Dominant Market Share Due to Rising Demand from Food & Beverage Sector
Europe dominates the global flavors and fragrances market share due to the rising product demand from food & beverage manufacturers. The regional market stood at USD 8.16 billion in 2021.
Asia Pacific holds the second-largest global market share owing to the increasing demand for flavors and fragrances from various end-use industries.
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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