The Global Solvents 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 Solvents 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.

A solvent is a chemical that dissolves a solute to create a solution. While commonly found in liquid form, solvents can also exist as solids or gases. These substances are designed to dissolve, absorb, or dilute other materials into fine distributions without altering their chemical structure. Increasing innovations in chemical technology and a growing preference for bio-based products, driven by stricter environmental regulations, are expected to fuel demand.

F ortune Business Insights presents this information in their report titled " Solvents Market , 2025–2032."

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Forecast Growth Projected:

According to Fortune Business Insights the global solvents market size was valued at USD 36.88 billion in 2023. The market is projected to grow from USD 38.60 billion in 2024 to USD 61.95 billion by 2032, exhibiting a CAGR of 6.1% during the forecast period.

List of the Key Players in the Solvents Market:

• Shell plc (U.K.)
• Eastman Chemical Company (U.S.)
• LyondellBasell Industries Holdings B.V. (Netherlands)
• Ashland (U.S.)
• BASF (Germany)
• Exxon Mobil Corporation (U.S.)
• Celanese Corporation (U.S.)
• Honeywell International Inc. (U.S.)
• INEOS (U.K)
• Gandhar Oil Refinery (India) Limited (India)
• Vijay Chemsol (India)
• Moksha Chemicals (India)

Solvents Market Segmentations:

Alcohols Segment Led the Market with Rapid Adoption of Ethanol and Methanol in Different Applications

In terms of product type, the market is classified into alcohols, esters, ketones, and others. The alcohols segment dominated the global market, driven by the rapid adoption of ethanol, n-butanol, methanol, and isopropanol in different applications. Ethanol is widely used in perfumes and medical drugs and methanol is highly preferred in adhesive applications.

Rapid Expansion of the Construction Industry Boosted Product Demand in the Paints & Coatings Segment

By application, this market is segregated into paints & coatings, industrial cleaning, adhesives, printing inks, and others. Paints & coatings held the largest solvents market share, attributed to their increased demand in the construction industry. The rapid expansion of the construction industry and innovations in paints are fueling segment growth.

Report Coverage
The market research report presents a comprehensive market study, emphasizing important elements, such as the competitive environment and prominent product categories. Moreover, the report offers crucial insights on market trends and noteworthy industry developments. In addition to the factors above, the report contains numerous aspects that have nurtured market expansion in recent times.

Drivers and Restraints

A growing emphasis on environmental responsibility has led to a significant shift in recent years, with both consumers and industries moving toward bio-based products over chemical ones. This evolution is transforming the global market, inspiring producers to develop innovative, sustainable product lines to meet the call for greener alternatives. Known as "green solvents," eco-friendly options are derived from renewable materials or are designed to minimize environmental harm. The surge in demand for biobased solvents stems from the growing awareness of the environmental and health issues associated with conventional solvents. Increased consumer inclination toward safer and eco-conscious choices is bolstering the solvents market growth.

Competitive Landscape

Leading Companies Emphasize Green Product Modernizations to Enhance Their Market Positions

Exxon Mobil Corporation, Shell plc, BASF, LyondellBasell Industries Holdings B.V., and Honeywell International Inc. are some of the prominent players in the global market. They focus on green product modernizations, mergers, acquisitions, and partnerships to strengthen their competitive edge.

Key Industry Development

• April 2024:   BASF introduced Efka PX 4360, a revolutionary solvent-based dispersing agent tailored for industrial coatings. With advanced Controlled Free Radical Polymerisation (CFRP) technology, this agent enhances pigment dispersion, ensures compatibility, and optimizes color properties.

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Polybutylene adipate terephthalate (PBAT) refers to the renewable and biodegradable synthetic polymer manufactured using a combination of 1,4-butanediol, terephthalic acid, and adipic acid. The superior attributes of the product, which is poised to surge its uptake in sustainable packaging, are fostering the market growth. Owing to its high composability and biodegradability, PBAT is becoming popular in the packaging sector.

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 Polybutylene Adipate Terephthalate 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:

According to Fortune Business Insights the global polybutylene adipate terephthalate market size was valued at USD 184.0 million in 2023 and is projected to grow from USD 198.7 million in 2024 to USD 376.5 million by 2032 at a CAGR of 8.3% during the forecast period.

List of the Key Players in the Polybutylene Adipate Terephthalate Market:

• BASF SE (Germany)
• Novamont S.p.A. (Norway)
• Kingfa Sci.&Tech. Co.,Ltd. (China)
• OerlikonBarmagHuitong (Yangzhou) Engineering Co., Ltd. (China)
• Xinjiang Blue Ridge Tunhe Sci.&Tech. Co., Ltd. (China)
• Jin Hui Zhao Long High Tech Co., Ltd. (China)
• DAWN (China)
• Mitsubishi Corporation (Hong Kong) Limited. (Japan)
• Entec Polymers (U.S.)
• Hangzhou Peijin Chemical Co., Ltd. (China)

Segmentation:

Surging Consumer Demand for Sustainable Packaging Solutions to Fuel the Segment Expansion

On the basis of application, the market is divided into agriculture & horticulture, consumer goods, coatings & adhesives, packaging, and others. The packaging segment captured the largest polybutylene adipate terephthalate market share in 2023. The growing regulatory and consumer demand for sustainable packaging solutions is bolstering the adoption of the product in the packaging sector.

On the regional front, the market is segmented into Europe, the Asia Pacific, North America, and the rest of the world.

Report Coverage

The research report provides an in-depth analysis of the prominent driving and restraining factors impacting the market growth. It further offers a comprehensive coverage of the major segments, the top trends, and the impact of the COVID-19 pandemic on the market growth. It also comprehensively discusses the strategic measures implemented by leading players in the polybutylene adipate terephthalate market to achieve a competitive advantage.

Drivers and Restraints:

Developments in   Bio-based PBAT and Production Process to Surge Sustainability and Economic Viability, Fueling the Market Growth

Renewable feedstock, including agricultural waste or plant oils instead of fossil fuels is used to make bio-based PBAT. This move toward renewable raw materials shows consistency with the growing focus on transforming to a circular economy and sustainability. Along with the development of biobased PBAT, advancements have been made in the production processes of the product manufacturing industry. Thus, these factors are impelling the polybutylene adipate terephthalate market growth.

Regional Insights:

Asia Pacific Dominates Due to Growing Environmental Awareness

The Asia Pacific market for polybutylene adipate terephthalate captures the largest share. This is on the back of the surging awareness pertaining to the environment, urbanization, and quick industrialization in nations including South Korea, India, Japan, and China.

North America market growth can be credited to the rising consumer demand for sustainable options to traditional plastics, which has driven product uptake.

Competitive Landscape:

Key Companies Actively Engage in Various Strategies to Enhance Their Market Position

The polybutylene adipate terephthalate market is witnessing the active engagement of prominent manufacturers of the product in different strategic moves to capitalize on the rising demand for biodegradable materials while making their market position strong. In addition, these players are making investments in R&D and upgradation of technology to enhance product performance and production efficiency.

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According to Fortune Business Insights the global rare earth elements market size was USD 3.39 billion in 2023 and is projected to grow from USD 3.74 billion in 2024 to USD 8.14 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period. Rare earth elements, mainly Dysprosium and Neodymium, are utilized to power EV engines. Neodymium, for instance, is widely adopted to make magnets for EVs owing to its high coercive strength and stable flux density, both of which provide the necessary power to the EV to move. Since neo-magnets are instrumental for the proper functioning of EVs, growing demand for these vehicles will inevitably stoke the adoption of rare earths in the next few years.

Fortune Business Insights provide this information in its report titled  "Rare Earth Elements Market, 2025-2032."

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Segmentations Analysis:

By Type:
In 2023, the neodymium   segment dominated due to its rising use in electric and hybrid vehicle batteries.   Cerium   grew with demand from the automotive industry for emission control systems, while   praseodymium   saw growth from aerospace applications.   Lanthanum   demand increased for battery production, especially in consumer electronics.   Samarium   demand rose for permanent magnets used in hybrid vehicles.

By Application:
The   magnets   segment led the market in 2023, driven by demand from electronics and motor manufacturers. The   battery   segment is expected to grow at the fastest rate, fueled by the surge in electric vehicle adoption and advancements in energy storage, especially in the U.S., China, and Europe.

Report Coverage:

The report aims to analyze the rare earth elements industry by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.

Drivers & Restraints:

Rising Demand from Various Industries to Bolster Growth

A large number of rare earth elements are gaining momentum across the globe because of their high demand from numerous industries. They have several beneficial chemical and physical properties that are best suited for specific applications. However, the surging prices of raw materials because of the high demand for bearings, aircraft alloys, automotive motors, and batteries may hamper the rare earth elements market growth in the near future.

Regional Insights:

Abundant Reserves in China & Australia to Propel the Asia Pacific Market

Among regions, Asia Pacific is expected to dominate the rare earth elements market share in the near future on account of the abundant availability of these elements in China, Japan, and Australia. Moreover, with countries such as India and Myanmar investing in rare earth mining projects, the scope of the market in this region is set to widen in the upcoming years.

The market in North America is set enjoy lucrative prospects owing to the booming demand for electric cars in the region. In Europe, on the other hand, the main growth driver will be the region’s gradual shift towards renewables and clean energy production technologies.

Competitive Landscape:

Formulation of Supportive Policies to Encourage Investments by Key Players

Governments in several countries are formulating policies favoring and incentivizing investments in rare earth exploration activities. Such policies are encouraging key players to develop innovative technologies and equipment to efficiently extract and utilize rare earth elements, which have proven to be highly beneficial in the automotive, hydrocarbon, and energy industries.

A list of renowned rare earth elements providers operating in the global market:

• Baotou Rare Earth (China)
• China Minmetal Rare Earth (China)
• Avalon Advanced Materials (Canada)
• IREL (India)
• Metall Rare Earth Limited (China)
• Arafura Resources (Australia)
• Canada Rare Earth Corporation (Canada)
• Lynas Corporation (Australia)
• Northern Minerals (Australia)
• Greenland Minerals Limited (Australia)
• Other Players

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According to Fortune Business Insights the global carbon fiber market size was valued at USD 2.65 billion in 2023 and is projected to grow from USD 2.82 billion in 2024 to USD 6.54 billion by 2032, exhibiting a CAGR of 11.1% during the forecast period. Carbon fiber is produced from carbon atoms with five to ten micrometers diameter. It is also called graphite fiber. These fibers have superior properties such as low thermal expansion, high stiffness, high-temperature tolerance, high-tensile strength, high strength-to-weight ratio, and higher chemical resistance. These excellent properties of the product made it a matter of choice in defense, aerospace, construction, automotive, sports applications, and wind turbines. Increasing demand for lightweight vehicles and rising automotive demand will drive the market growth.

Fortune Business Insights provide this information in its report titled   "Carbon Fiber Market, 2025-2032."

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Segmentations Analysis:

Polyacrylonitrile Segment to Lead the Market Share during the Forecast Period

On the basis of precursor, the market is divided into pitch and PAN (polyacrylonitrile). The PAN segment held a reasonable share of the market in 2022 and is expected to lead during the forecast period, owing to growing demand from end-use industries. The increasing demand for PAN-based graphite fiber is attributed to its properties, including high modulus, better fiber quality, cost-effectiveness, and high tensile strength.

Small Tow Segment to Lead due to Growing Adoption in the Aerospace & Defense Industry

According to tow, the market is fragmented into small tow and large tow based on tow. The small tow segment accounted for the largest share in 2022. It is widely used in aerospace and defense due to its tensile strength and high modulus. Large tow fibers also held a reasonable share of the market, which is predicted to grow in the near future.

Aviation, Aerospace & Defense   Segment to Grip Largest Share of Growing Aircraft Manufacturing

Based on the application, the market is fragmented into automotive, aerospace & defense, aviation, sports & leisure, wind turbines, construction, and others. the aviation, aerospace & defense segment accounted for the highest market share in 2022 and may continue its dominance during the forecast period as composite materials are widely used in the aerospace industry.

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.
• Recent industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers and Restraints:

Growing Demand and Increasing Usage in Automotive Industry to Propel Market Growth

Carbon fiber is a material which is a very lightweight and strong having a low weight-to-strength ratio. It is twice as stiff as steel and five times more potent than steel. It consists of superior chemical resistance to steel. The exceptional properties of the product have led to an increase in its demand in the automotive industry to manufacture highly durable vehicles.

The manufacturing of lightweight vehicles is expensive as carbon fiber material is costly. Carbon composites are used mainly in automotive, oil & gas, aerospace, and wind energy due to their high performance and lightweight properties.

Fortune Business Insights™ presents a list of reputed manufacturers operating in the global market. They are as follows :

• ZOLTEK Corporation (Missouri, the U.S.)
• Hexcel Corporation (Connecticut, the U.S.)
• TEIJIN LIMITED (Tokyo, Japan)
• TORAY INDUSTRIES, INC. (Tokyo, Japan)
• Solvay (Brussels, Belgium)
• Formosa M Co., Ltd. (Gyeonggi-do, Korea)
• Mitsubishi Chemical Carbon Fiber and Composites, Inc. (California, the U.S.)
• Nippon Graphite Fiber Co., Ltd. (Hyogo, Japan)
• Advanced Composites Inc. (Utah, the U.S.)
• HYOSUNG ADVANCED MATERIALS (Seoul, South Korea)
• Other Key Players

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:

• June 2019 : Liberty Hall Capital Partners announced the execution of an agreement with Sekisui Chemical Group to sell AIM Aerospace worth USD 510 million. This new acquisition would help Sekisui Chemical to expand its geographic reach, diversify its customer base, and broaden its capabilities.

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According to Fortune Business Insights the global plasticizers market size was valued at USD 17.34 billion in 2022 and is projected to grow from USD 17.99 billion in 2023 to USD 23.88 billion by 2030, exhibiting a CAGR of 4.1% during the forecast period. Plasticizers are used for enhancing the flexibility of a range of plastic materials. The market is slated to expand over the coming years driven by the soaring demand for plastic products across numerous industries. 

The global   plasticizers market   is a critical segment of the chemicals industry, driven by rising demand for flexible PVC and other polymers across diverse sectors such as construction, automotive, packaging, and consumer goods. Plasticizers are additives used to increase the flexibility, durability, and workability of plastic materials, primarily polyvinyl chloride.

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

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Segmentation:

Phthalates Segment Holds Leading Share Due to Increasing Product Use on Account of Low Cost

Based on type, the market is segmented into non-phthalates and phthalates. The phthalates segment accounts for a major market share. This is due to the increasing product usage in several applications on account of the product’s versatility and low cost.

Wire & Cable Segment Led Due to Escalated Product Usage to Enhance Safety during Power Transmission

Based on application, the market is categorized into flooring & wall covering, wire & cable, consumer goods, coated fabrics, film & sheet, and others. The wire & cable segment is poised to register a key market share. This is driven by the extensive product usage in telecommunications and power transmission given the role played by plasticizers to enhance wire safety.

By geography, the market for plasticizers has been studied across Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.

Report Coverage:

The report presents an overview of the major factors anticipated to boost the industry growth over the coming years. It also gives an account of the key steps deployed by major companies to strengthen their market share. The report also discusses the pivotal trends in the market.

Drivers and Restraints:

Market Value to Surge Due to Growing Inclination toward Non-Phthalate Products

The rising awareness regarding the harmful effects of phthalate-usage on the environment and human health has led to a shift toward the use of non-phthalate-based plasticizers. They are a more sustainable option considering their biodegradable nature. These factors are expected to boost their deployment, impelling plasticizers market growth over the coming years.

However, the industry expansion could be hindered owing to the enforcement of stringent regulations associated with the usage of phthalate-based materials.

Regional Insights:

Asia Pacific Led the Market Owing to Escalating Demand for PVC-based Products

Asia Pacific registered a key share in the market. The dominance of the region can be attributed to the growing demand for PVC-based products in developing economies such as India and China.

The Europe plasticizers market share is anticipated to rise owing to the growing demand for eco-friendly products and escalating concerns associated with the use of traditional phthalate-based solutions.

Key Industry Development:

May 2020 –   KRAHN Chemie Group was authorized by ExxonMobil Chemical for the distribution of its Jayflex plasticizers including MB10, DTDP, DIUP, DIDP, and DINP in Spain. The products are deployed in an array of applications, including adhesives and sealants, rubber, PVC, printing inks, and paints and coatings.

List of Key Players Mentioned in the Report:

• BASF SE (Germany)
• Exxon Mobil Corporation (U.S.)
• Eastman Chemical Company (U.S.)
• Evonik Industries AG (Germany)
• Nan Ya Plastics Corporation (Taiwan)
• UPC Technology Corporation (Taiwan)
• LG Chem Ltd. (South Korea)
• Aekyung Chemical (South Korea)
• Kao Corporation (Japan)
• Avient Corporation (U.S.)

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According to Fortune Business Insights the global point-of-use water treatment systems market size was valued at USD 24.32 billion in 2024. The market is projected to grow from USD 26.37 billion in 2025 to USD 46.35 billion by 2032, exhibiting a CAGR of 8.4% during the forecast period. Point-of-Use (POU) water treatment systems are installed at specific water outlets like kitchen sinks, bathroom showers, and faucets in homes or commercial buildings. Designed for low-volume treatment, they serve as the final stage of purification. When combined with point-of-entry systems, they ensure comprehensive water purification, including contaminant removal and softening.

Fortune Business Insights™   publishes this information in a report titled,   "Point of Use Water Treatment Systems Market, 2025-2032" . As per the report, the market is expected to grow during the projected period due to increasing awareness regarding water-borne diseases.

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Segmentations Analysis:

Countertop Filters to Lead Market Due to High Demand

By product type, the market is divided into under the counter filters, countertop filters, pitcher filters, faucet-mounted filters, and others. Countertop filters are expected to lead the global market due to their increasing plumbing sector demand.

RO Filter Segment to Dominate Market Due to its Excellent Features

Based on category, the market is classified into RO filters, UV filters, gravity filters, and others. RO filters segment is anticipated to dominate the market due to its excellent features and feasibility.

Residential Segment to Be the Fastest-Growing Application

On the basis of application, the market is bifurcated into residential and light commercial. The residential segment holds the highest market share due to increasing adoption of these point of use water treatment systems in residential projects.

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

Report Coverage:

The research report covers insightful data regarding recent developments and trends in the industry. Drivers and restraints affecting the market growth during the forecast are highlighted further in this report. Also, the impact of COVID-19 pandemic on market expansion is mentioned along with recent business development strategies adopted by the leading players. A list of key market players is given with regional insights on segmented market areas.

Drivers & Restraints:

Rising Adoption of Smart Water Treatment Systems to Augment Growth

The market is expected to grow significantly during the forecast period due to increasing awareness regarding water-borne diseases. The rising demand for smart water treatment systems is anticipated to drive the market in the coming years. Also, various environmental campaigns conducted by governments and social workers are projected to bolster the global point of use water treatment systems market growth.

Competitive Landscape:

New Product Launch Allow Companies to Enhance their Product Portfolio

The leading market players focus on forming strategic alliances and partnerships with supporting organizations. Also, the companies adopt recent technologies to introduce new product ranges and enhance their product portfolio.

List of the Key Players in the Point-of-Use Water Treatment Systems Market:

• A. O. Smith Corporation (U.S.)
• Brita Gmbh (U.S.)
• Helen of Troy Limited (U.S.)
• Pentair PLC (U.S.)
• Culligan International Company (U.S.)
• Unilever PLC (U.K.)
• Panasonic Corporation (Japan)
• LG Electronics (South Korea)
• Best Water Technology Group (Austria)
• Kent RO Systems Ltd. (India)
• Coway Co. Ltd. (South Korea)
• Katadyn Group (Switzerland)
• Eureka Forbes Ltd. (India)

Key Industry Development:

December 2021:   Culligan and Waterlogic Group Holdings joined hands to develop sustainable water purification, treatment, and filtration services. With this collaboration, both companies combined their expertise to expand into new markets, including the U.S. and strengthen their existing distribution networks.

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According to Fortune Business Insights the global masterbatch market size was valued at USD 10.99 billion in 2018 and is projected to reach USD 16.35 billion by 2026, exhibiting a CAGR of 5.3% during the forecast period. A solid or liquid ingredient called a masterbatch is used to paint or impart certain qualities to polymers. Plastic objects are given colour or shade using coloured masterbatch. Properties like energy, effect, UV stabiliser, biodegradable, antioxidant, and others can be communicated using them. The ideal product would be a mixture of pigment, additives, and carrier resin that has been heated, cooled, and then chopped into granular form. During the production of plastics, it aids the processor in efficiently colouring raw polymer.

This information is presented by   Fortune Business Insights , in its report titled, “ Masterbatch Market, 2025-2032 .”

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Segmentation:

Color Segment to Dominate Market During Forecast Period

Based on type, the market is classified into white, black, color, additive, and fillers. The white segment held the major share of the market. 

Polyethylene to be Leading Segment Over Forecast Period

In terms of application, the market is segmented into polyethylene, polypropylene, polyvinyl chloride, polyethylene terephthalate, and others.

Packaging Segment to Account for Major Share Over Forecast Period

In terms of end-use, the market is segmented into packaging, building & construction, consumer good, automotive, agriculture, and others. The packaging segment accounts for the major share in the forecast timeframe.

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

Report Coverage:

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the masterbatch market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.

Drivers and Restraints:

Market Growth is Being Driven by the Plastic Packaging Industry

High growth was seen in the plastic packaging sector, and there was a steady transition to new retail formats. Growing sales rates encourage organised retail expansion as well, driving up demand for inventive and appealing packaging. One of the retail industry's fastest-growing segments is food and beverage. Growth in this industry is probably going to encourage the usage of packaging, as plastic packaging improves food quality and increases shelf life. Packaged food is projected to be a rapidly expanding segment. Along with food and drink, pharmaceuticals are another industry that heavily utilises packaging. It is projected that the pharmaceutical business will experience double-digit expansion.

List of Masterbatches Market Manufacturers include:

• Ampacet Corporation
• PolyOne
• PLASTIKA KRITIS S.A.
• Hubron International
• Penn Color Inc.
• Clariant
• Schulman, Inc.
• Cabot Corporation
• Plastiblends
• Tosaf
• Other Players

Major Industry Developments of the Market include:

February 2019 –   PLA masterbatches were launched by Viba, a masterbatch producer in Italy. It is a range of color concentrating additives or combining masterbatches based on a PLA carrier material and optimized for various processing technologies.

December 2019 –   Clariant Color and Masterbatches Additives Company were acquired by PolyOne Corporation for introducing specialized technology and solutions to the end-user market for apparel, packaging, and healthcare.

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Acording to Fortune Business Insights the India metal forging market size was valued at USD 4.43 billion in 2022 and is expected to grow from USD 5.08 billion in 2023 to USD 9.75 billion by 2030, exhibiting a CAGR of 9.8% during the forecast period. The India metal forging market is experiencing robust growth driven by rising demand from the automotive, aerospace, defense, and construction sectors. Forging, a manufacturing process involving the shaping of metal using localized compressive forces, is a critical component in producing high-strength and durable metal parts.

Forging is a metal forming process that uses compressive forces like hammering, rolling, or pressing to shape materials under controlled conditions. Evolving with advanced techniques, it produces high-strength components from materials such as alloy steel, stainless steel, and aluminum alloys in various shapes, sizes, and finishes.

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India Metal Forging Market Segmentation:

By Material:
The market is segmented into carbon steel, alloy steel, stainless steel, aluminum, magnesium, titanium, and others.   Carbon steel dominates the market due to its strength, machinability, cost-effectiveness, and widespread use in automotive parts like crankshafts and control arms.

By Technique:
Divided into closed die, open die, and ring forging.   Closed die forging leads the segment, driven by its precision, consistency, and suitability for complex components requiring tight tolerances.

By Installation Capacity:
Segmented into small (100–12,500 MT), medium (12,500–30,000 MT), and heavy (above 30,000 MT).   Small capacity units hold the largest share, widely used for producing automotive parts such as yoke ends and connecting rods.

Competitive Landscape:

The India metal forging market is moderately fragmented with a mix of large players and numerous small and medium enterprises (SMEs). Key players focus on expanding capacity, technology adoption, and overseas expansion.

List of the Key Players in the India Metal Forging Market:

• Bharat Forge Limited (India)
• CIE Automotive India (India)
• MM Forging LTD (India)
• Amtek Group (India)
• CHW Forge PVT. Ltd. (India)
• Bill Forge Private Limited (India)
• Western India Forgings Pvt. Ltd. (India)
• Unique Forging PVT. LTD. (India)
• Chennai Forge Products PVT. LTD (India)
• RAMKRISHNA FORGINGS LIMITED (India)

Key Market Drivers:

• Rising Automotive Production:   India's expanding automobile sector continues to be a major consumer of forged components, especially crankshafts, connecting rods, and transmission parts.
• Government Infrastructure Push:   Investment in highways, railways, and defense equipment boosts demand for forged parts.
• Shift to Renewable Energy:   Wind turbines and related components are driving new demand.
• Export Opportunities:   India is becoming a key exporter of forged products to North America, Europe, and Southeast Asia.
• Technological Advancements:   Adoption of closed-die forging, 3D simulations, and process automation enhances productivity and efficiency.

Key Industry Developments:

May 2022   – Mahindra & Mahindra entered into a partnership with Volkswagen to explore the integration of Volkswagen’s electric vehicle components—such as motors, battery systems, and cells—into Mahindra’s EVs. The collaboration aims to accelerate growth in the electric mobility segment.

May 2022   – Ramkrishna Forgings Limited secured a multi-year contract valued at USD 13.5 million annually from a leading U.S.-based manufacturer of chassis-related systems and components for trailers, trucks, and buses.

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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.

Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road, Baner,

Pune-411045, Maharashtra, India.

Phone:

US: +18339092966

UK: +448085020280

APAC: +91 744 740 1245

Email:  sales@fortunebusinessinsights.com