The global formic acid market was valued at USD 667.1 million in 2024 and is projected to grow from USD 691.7 million in 2025 to USD 944.6 million by 2032, exhibiting a CAGR of 4.6% during the forecast period. Formic acid (HCOOH) is a colorless, corrosive organic compound with a sharp odor, widely utilized across various industries. It plays a crucial role in agriculture as a preservative, antibacterial agent, and pH regulator in animal feed. Additionally, it is used in leather tanning, textile dyeing, rubber production, and the chemical and pharmaceutical sectors due to its versatile chemical properties.
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Formic Acid Market Segmentation:
By Grade:
The 85% grade segment dominated the market in 2024 due to its high demand in agriculture as an antibacterial and preservative in livestock feed, supported by the growth of the global agricultural sector.
By Application:
The agriculture segment led the market in 2024, driven by rising use in pesticide production and as a preservative and antibacterial agent in animal feed.
Key Market Drivers:
Growing Demand from Agriculture Industry : The increasing use of formic acid as a preservative and antibacterial agent in animal feed significantly contributes to market growth.
Expansion in Leather and Textile Industries : Rising demand from the tanning and dyeing sectors in emerging economies like India, China, and Brazil is fueling market expansion.
Environmental Benefits : Formic acid is considered an eco-friendly alternative to conventional chemicals due to its biodegradability and low environmental impact.
What are the New Additions in Formic Acid Market Report?
Comprehensive Market Analysis : The 2023 report provides a detailed industry overview, analyzing key market trends, growth drivers, challenges, and opportunities. It covers various sectors within the industry and offers insights into market size, market share, and market segmentation.
Company Profiles : The report includes additional in-depth information on key company players operating in the industry. It offers detailed profiles of these companies, highlighting their financial performance, product portfolios, strategic initiatives, partnerships, and competitive landscape analysis.
Customization and Analyst Support : The report offers customized services and analyst support upon request. This may include tailored research, specific data requirements, or personalized insights based on the client's needs and preferences.
Recent Market Developments : The report incorporates the latest market developments that have occurred since the previous edition. It includes recent mergers and acquisitions, product launches, collaborations, regulatory changes, and other significant events shaping the industry landscape.
Futuristic Growth Opportunities : The report identifies and presents future growth opportunities in the industry. It explores emerging technologies, market trends, consumer preferences, and regulatory factors that are expected to drive growth and innovation in the coming years.
Key Industry Developments:
- April 2024 – Brown Gibbons Lang & Co. (BGL) announced the successful sale of Toledo Shredding LLC , a subsidiary of ProTrade Group based in Fairlawn, Ohio, to OmniSource LLC , the scrap processing division of Steel Dynamics Inc. , headquartered in Fort Wayne, Indiana. ProTrade Group is a vertically integrated scrap metal company specializing in both ferrous and nonferrous metals.
- November 2023 – Sims Ltd. , a global leader in scrap metal and electronics recycling, revealed that it is conducting a strategic review that may result in the sale of its U.K. scrap yard network. The objective is to evaluate options that enhance the performance of its U.K. Metals business and deliver greater value to shareholders.
List of key Formic Acid Companies Profiled:
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BASF SE (Germany)
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Koei Chemical Co., Ltd. (Japan)
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Eastman Chemical Company (U.S.)
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Perstorp AB (Sweden)
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Mudanjiang Fengda Chemicals Co., Ltd (China)
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Tokyo Chemical Industry Co., Ltd (Japan)
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Mitsubishi Gas Chemical Company, Inc. (Japan)
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Nacalai Tesque Inc. (Japan)
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FUJIFILM Wako Pure Chemical Corporation (Japan)
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Chongqing Chuandong Chemical (Group) Co., Ltd., (China)
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As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.
The global water and wastewater treatment market size was valued at USD 323.32 billion in 2023 and is projected to grow from USD 346.41 billion in 2024 to USD 617.81 billion by 2032, exhibiting 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.”
Surging competitiveness has resulted in the prime companies to augment their service network. Global firms are intentionally purchasing local companies to maintain their dominance in the global market.
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List of Key Players Mentioned in the Water and Wastewater Treatment Market Report:
- Veolia (France)
- SUEZ Worldwide (France)
- DuPont (U.S.)
- 3M (U.S.)
- Xylem (U.S.)
- Kemira (Finland)
- Evoqua Water Technologies LLC (U.S.)
- Pentair PLC (U.K.)
- Ecolab (U.S.)
- American Water (U.S.)
- Acciona (Spain)
- Hydro International (U.K.)
- Aquatech International LLC (U.S.)
- Trojan Technologies (Canada)
- BioMicrobics Inc. (U.S.)
- Kurita Water Industries Ltd. (Japan)
- ASIO (Czech Republic)
Report Coverage:
The report offers treasured perceptions attained by detailed review done by our analysts. An all-encompassing research was directed to offer the assessed size and share of the water and wastewater treatment market. The data gained and applied to estimate the shares for manifold sections at all levels such as global, national, and regional is acquired from detailed interviews with various stakeholders. Moreover, we have obtained admission to numerous global and regional paid records to provide detailed information to make business investment conclusions simple for our clients and shareholders.
Segments:
Services Segment to Gain Momentum due to Larger Investments
Based on segment, the market is classified into chemicals, equipment, and services. The services segment is expected to grow at the highest pace due to companies focusing on constructing novel treatment plants and maintenance of existing facilities.
By application, the market is divided into municipal and industrial.
Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers and Restraints:
Strict Guidelines on Waste Treatment to Encourage Water and Wastewater Treatment Market Growth
With technological progressions in production techniques, the quantity of wastewater produced has increased abruptly in the recent years. Sewage from corporations and factories processing chemicals, rare metals, pesticides and other dangerous chemicals and materials are harmful to the environment and are likely to trigger tragic impacts if not sufficiently treated prior to releasing in freshwater resources.
However, with severe protocols being inflicted on wastewater treatment for businesses, they are prevented from having progressive treatment technologies set up at the locations owing to huge capitalizations to build such factories.
Competitive Landscape:
Purchases Originated by Significant Companies to Sponsor Market Growth
The dominating players in the market repetitively are looking to apply competent approaches to strengthen their brand value as well as endorse the global market growth of the product by facing least imaginable complications. One such competent scheme is securing competitive companies and further safeguarding a lucrative opportunity for both the engaged corporations.
Industry Development:
January 2022 – Xylem and Isle Utilities partnered to scale the breakthrough ‘Trial Reservoir’ water technology. It will create a pool of funding to new companies to undertake trials. Also, by removing the financial uncertainty, new companies will be able to come together and to better solve the water problems .
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The global rare earth elements market was valued at 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, registering a compound annual growth rate (CAGR) of 10.2% during the forecast period from 2025 to 2032. The global rare earth elements market size is projected to experience a period of sustained growth owing to the steadily rising adoption of electric vehicles (EVs) around the world, observes Fortune Business Insights™ in its report, titled “Rare Earth Elements Market Size, Share & Industry Analysis, By Type (Lanthanum, Cerium, Prasaedynium, Samaerium, Europium, Other), By Application (Magnets, Metals, Alloys, Polishing agents, Additives, Catalysts, Phosphors, Other) and Regional Forecast, 2025-2032”.
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Rare Earth Elements Market Segmentation:
By Type:
The market is segmented into lanthanum, cerium, neodymium, praseodymium, samarium, europium, and others. Neodymium dominated the market in 2023, driven by its use in electric vehicle batteries and permanent magnets. Cerium is growing due to demand from the automotive sector, especially in catalytic converters. Praseodymium is gaining traction in aerospace for high-strength alloys. Lanthanum is witnessing growth from battery applications, particularly in nickel-metal hydride batteries. Samarium demand is increasing due to its use in permanent magnets for hybrid vehicles.
By Application:
Applications include magnets, metallurgy, batteries, polishing, glass & ceramics, catalysts, phosphors, and others. Magnets held the largest market share in 2023, with strong demand from electronics, motors, and sensors. The battery segment is expected to grow at the fastest pace, driven by the rising adoption of electric vehicles and advancements in energy storage technologies, especially in the U.S., China, and Europe.
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.
Market Driver
Increasing Production of Rare Earths outside China to Augment Market Potential
One of the factors that potentially accelerate the rare earth elements market growth in the coming years is the increasing production of these elements in countries other than China. In the US, for example, rare earth production rose from 18,000 MT in 2018 to 26,000 MT in 2019, according to the US Geological Survey (USGS), with the main supply of these elements from the Mountain Pass mine in California. Australia, to take another example, houses the sixth largest-known rare earth reserve in the world in Mouth Weld in Western Australia. The USGS notes that rare earth element production in the country has risen impressively in the past few years, standing at 21,000 MT in 2019. Another key country is India, which, according to the USGS, is producing far below its potential. Being home to 35% of the total global beach sand mineral deposits, the USGS believes that India can become a significant player in the rare earths industry.
Competitive Landscape-
Key Players Focus on Acquisitions and Signing Agreements to Intensify Competition
The global market houses numerous companies that are currently focusing on acquiring local organizations and signing new agreements with government bodies to compete with their rivals. Below is one of the latest industry developments:
- January 2021 : Lynas Rare Earths Limited and the U.S. Government signed an agreement to construct a Light Rare Earths separation plant in Texas through Lynas USA LLC, a wholly owned subsidiary. The new plant is estimated to produce rare earth elements at around 5,000 tonnes per annum.
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 paper packaging market was valued at USD 376.53 billion in 2024 and is projected to grow to USD 506.59 billion by 2032. It is expected to rise from USD 392.28 billion in 2025, registering a compound annual growth rate (CAGR) of 3.72% during the forecast period. Paper packaging means packaging which utilizes paper and boards. The market expansion can be ascribed to the recyclable nature of paper and paperboard. Tons of waste generated from packaging can be saved by recycling paper packaging, thus saving substantial landfill space.
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.
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)
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.
Competitive Landscape:
Leading Companies Deploy Product Development Strategies to Reduce Environmental Impact
Some of the prominent companies in the market are Georgia-Pacific Corporation, DS Smith PLC, WestRock Company, Hood Packaging Corporation, Mondi Group Plc, and others. These players are implementing different strategies to stand out from the competition. Some of these strategies include joint ventures, capacity expansions, partnerships, and others. Most companies are also prioritizing the development of innovative products to lessen the environmental impact.
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.
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The global plastics market was valued at USD 524.48 billion in 2024 and is expected to reach USD 754.23 billion by 2032, growing from USD 533.59 billion in 2025 at a compound annual growth rate (CAGR) of 5.1% during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report titled, “Plastics Market, 2025-2032.” Plastics are polymers that are versatile, easy to produce, moldable, waterproof in nature, low cost, and lightweight, used to produce different products such as spacecraft and others. The plastics produced using renewable biomass sources, including vegetable oil, sawdust, food waste, and corn starch, are known as bioplastics.
According to the study, synthetic material has gained considerable traction due to easy manufacturing, lightweight, low cost, and versatility. Amidst depleting sources of polymers, recyclable products could gain considerable traction globally. Notably, healthcare & pharmaceutical, automotive, and packaging sectors will exhibit stellar demand for sustainable packaging solutions.
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Report Coverage
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
Segments
Polyvinyl Chloride (PVC) to Gain Traction with Rising Demand for Resistance to Chemicals
In terms of type, the market is segregated into polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, acrylonitrile butadiene styrene, polyamide, polycarbonate, polyurethane, polystyrene, and others. The polyvinyl chloride segment will account for a considerable share of the global market due to electric insulation and the demand for resistance to chemicals.
Packaging to Remain Dominant Due to Robust Demand from Food & Beverage Sector
With respect to end-use industry, the market is segregated into packaging, automotive & transportation, infrastructure & construction, consumer goods/lifestyle, healthcare & pharmaceutical, electrical & electronics, textile, and others. The packaging segment will exhibit notable growth during the assessment period, largely due to rising demand from the food & beverage sector.
Major Players Profiled in the Plastics Market Report:
- LyondellBasell Industries N.V. (Netherlands)
- ExxonMobil Chemical (U.S.)
- Ducor Petrochemicals (Netherlands)
- Reliance Industries Limited (India)
- Formosa Plastic Group (Taiwan)
- Total S.A. (France)
- Braskem (Brazil)
- BASF SE (Germany)
- Repsol (Spain)
- Borouge (UAE)
- Borealis AG (Austria)
- MOL Group (Hungary)
- Beaulieu International Group (Belgium)
Drivers and Restraints
Expanding Footprint of Engineering Plastics to Propel Growth Potentials
The plastics market share will witness notable traction during the forecast period, largely due to better mechanical and thermal properties. Surging demand for better polymer solutions will encourage leading companies to expedite investments. Prominently, surging demand for metal substitution could play a pivotal role in boosting the material demand. Furthermore, the food industry is poised to be the major recipient of plastics that avoid contamination and minimize food quality degradation. Increased usage of the polymer in fashion, sports, and toy-making will bode well for the industry growth.
Competitive Landscape
Major Players Prioritize Collaboration to Tap into Markets
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements and R&D activities. Besides, major companies could invest in innovations and product offerings in the ensuing period.
Key Industry Development
- January 2022 : Borealis joined hands with Reclay Group to keep up with the demand for recyclate material for use in high-end plastic applications.
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According to Fortune Business Insights the global activated carbon market was valued at USD 5.70 billion in 2024 and is projected to decline slightly to USD 5.62 billion in 2025 before experiencing strong growth to reach USD 10.04 billion by 2032, registering a CAGR of 8.7% during the forecast period. Activated carbon, also known as activated charcoal, is a form of carbon processed to have small, low-volume pores that increase its surface area for adsorption or chemical reactions. It is widely used for purification, filtration, and decolorization across industries.
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 Activated Carbon 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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Activated Carbon Market Segmetation:
By Type: The global activated carbon market is segmented into powdered (PAC), granular (GAC), and others.
Granular Activated Carbon (GAC) holds the largest market share due to its reusability, effective contaminant removal, and wide use in air and water purification, food & beverage processing, and wastewater treatment.
Powdered Activated Carbon (PAC) is expected to grow steadily, driven by high adsorption efficiency and increasing use in water treatment. Its fine particle size provides a larger surface area, making it ideal for removing organic impurities and minimizing treatment costs in high-flow systems.
By Application: Based on application, the market is categorized into water treatment, air & gas purification, food & beverage, pharmaceutical & healthcare, and others.
Water Treatment dominates the market, fueled by the global need for clean drinking water and strict environmental regulations. Activated carbon is effective in removing taste, odor, and organic contaminants.
Air & Gas Purification sees growing demand due to rising air pollution concerns and government regulations on flue gas emissions and mercury control.
Food & Beverage applications are expanding, with activated carbon used for decolorization, odor removal, and refining edible oils, amid increasing focus on food safety.
Pharmaceutical & Healthcare use is growing in treatments such as hemodialysis, poisoning, and drug overdoses.
Other applications include energy storage, rare metal recovery, and specialty chemical manufacturing, driven by increasing demand for advanced energy solutions.
List of the Key Players in the Activated Carbon Market:
- Osaka Gas Chemicals Co., Ltd. (Japan)
- Donau Carbon GmbH (Germany)
- Cabot Corporation (U.S.)
- PURAGEN ACTIVATED CARBONS (U.S.)
- CARBOTECH AC GMBH (Germany)
- Kuraray Co., Ltd. (Japan)
- KUREHA CORPORATION (Japan)
- Activated Carbon Technologies (Australia)
- Silcarbon Aktivkohle GmbH (Germany)
- Ingevity (U.S.)
- Iluka Resources (Australia)
- James Cumming & Sons (Australia)
- Universal Carbons (India)
- Carbon Activated Corporation (U.S.)
Competitors Landscape:
The realm of Activated Carbon Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
What are the New Additions in Activated Carbon Market Report?
Comprehensive Market Analysis : The 2023 report provides a detailed industry overview, analyzing key market trends, growth drivers, challenges, and opportunities. It covers various sectors within the industry and offers insights into market size, market share, and market segmentation.
Company Profiles : The report includes additional in-depth information on key company players operating in the industry. It offers detailed profiles of these companies, highlighting their financial performance, product portfolios, strategic initiatives, partnerships, and competitive landscape analysis.
Customization and Analyst Support : The report offers customized services and analyst support upon request. This may include tailored research, specific data requirements, or personalized insights based on the client's needs and preferences.
Recent Market Developments : The report incorporates the latest market developments that have occurred since the previous edition. It includes recent mergers and acquisitions, product launches, collaborations, regulatory changes, and other significant events shaping the industry landscape.
Futuristic Growth Opportunities : The report identifies and presents future growth opportunities in the industry. It explores emerging technologies, market trends, consumer preferences, and regulatory factors that are expected to drive growth and innovation in the coming years.
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According to Fortune Business Insights the global masterbatch market was valued at USD 10.99 billion in 2018 and is projected to grow to USD 16.35 billion by 2026, registering a CAGR of 5.3% during the forecast period. Masterbatch is a solid or liquid additive used in the plastics industry to color raw polymer or impart other desired properties to plastics. It consists of a concentrated mixture of pigments or additives that is encapsulated into a carrier resin during a heat process and then cooled and cut into a granular shape.
Masterbatch is a concentrated mixture of pigments or additives encapsulated into a carrier resin, which is then used to color or enhance the properties of plastics during the manufacturing process. It allows for efficient and consistent dispersion of color and functional additives (such as UV stabilizers, flame retardants, or anti-static agents) in plastic products. Masterbatches come in various types including black, white, color, additive, and filler.
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Masterbatch Market Segmentation:
By Type:
The market is segmented into white, black, color, additive, and filler masterbatches.
White masterbatch holds the largest share, primarily due to its high titanium dioxide content (~75%), offering excellent opacity, brightness, and high refractive index.
Black masterbatch contains about 50% carbon black and is widely used for its UV protection, conductivity, and deep black pigmentation.
Color masterbatch is expected to grow rapidly owing to its excellent light and weather fastness, with broad usage in bottles, cables, and household items.
By Polymer:
Segmentation includes polyethylene, polypropylene, PVC, PET, and others.
Polyethylene dominates due to its versatility across HDPE, LDPE, and LLDPE, widely used in packaging and construction.
Polypropylene is growing fast, valued for its antibacterial and antimicrobial properties, and its use in consumer and construction applications.
By End-Use:
Key end-use industries are packaging, building & construction, consumer goods, automotive, agriculture, and others.
Packaging is the leading segment, driven by demand for durable and functional plastic packaging.
Building & construction is expanding quickly, supported by the increased use of masterbatch-enhanced plastics for durability, UV resistance, and longevity.
Automotive applications use masterbatches to enhance resistance to heat, UV, and environmental stress, especially in interior and exterior plastic components.
Market Drivers:
Rise in Demand for Plastic from Pharmaceutical Industry for Packaging will Bolster Growth
Various factors are responsible for the global masterbatches market growth. These include the rise in construction activities for all residential, commercial, and industrial purposes, increasing demand for automobiles, especially lightweight vehicles, and the increasing preference for plastic goods worldwide. On the contrary, factors such as the fluctuating price of raw materials such as titanium dioxide, polymers, and others with a high volatile nature may pose a major challenge to the overall market. Nevertheless, increasing demand for plastic packaging from sectors such as food and beverage and pharmaceuticals are likely to create lucrative growth opportunities for the market in the coming years.
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
Competitive Landscape:
Fragmented Nature of Market will Intensify Competition
The global masterbatches market enjoys a fragmented nature of the market owing to the presence of various players both small and medium-sized. Companies are aiming at a large network of distribution and providing a good supply chain with regulatory expertise. Other players are engaging in collaborative efforts such as joint ventures, partnerships, mergers and acquisitions, contracts and agreements, and others to gain a competitive edge in the market on the one side and earn attracting revenue on the other.
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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The Global Flat Steel 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 Flat Steel Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Flat Steel Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
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Forecast Growth Projected:
The global flat steel market was valued at USD 433.83 billion in 2023 and is expected to grow from USD 526.57 billion in 2024 to USD 803.61 billion by 2032, registering a CAGR of 4.6% during the forecast period.
List of the Key Players in the Flat Steel Market:
- ArcelorMittal (Luxembourg)
- NIPPON STEEL CORPORATION (Japan)
- Ezz Steel (Egypt)
- Tata Steel (India)
- HBIS Group (China)
- Voestalpine Group (Austria)
- ThyssenKrupp Steel Europe (Germany)
- Metals USA (U.S.)
- POSCO (South Korea)
- Yieh Corp. (Taiwan)
Competitors Landscape:
The realm of Flat Steel Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
Falt Steel Market Segmentation:
By Type
The flat steel market is segmented into Hot Rolled Coil (HRC), Cold Rolled Coil (CRC), sheets, and others. Among these, the HRC segment is expected to maintain its dominance during the forecast period. This is attributed to its growing demand across agriculture equipment, construction, machinery, and pipe-making applications. HRC offers high strength, durability, temperature resistance, and formability. Moreover, its use in applications that require minimal force or shaping, along with ongoing technological innovations, supports the segment’s expansion.
By Application
Based on application, the market is categorized into construction, automotive & transportation, mechanical equipment, energy, packaging, and others. The construction segment held the largest share in 2023, driven by the use of flat steel in roofing, welded structures, sheds, and staircases. Its lightweight nature, safety features, and cost-efficiency make it a preferred choice. The shift toward modern construction techniques, such as monolithic construction, is also contributing to increased product demand.
The present study is composed of several unique divisions, neatly sorted by geographic location (nation), producers, classification, and usage. Every section presents a comprehensive overview of the product for the projection timeframe, offering valuable observations into the Flat Steel Market at hand. This approach to categorizing the information plays a crucial role in assessing the importance of numerous factors that foster market expansion, while also facilitating the recognition of nascent trends and prospects.
What are the New Additions in Flat Steel Market Report?
Comprehensive Market Analysis : The 2023 report provides a detailed industry overview, analyzing key market trends, growth drivers, challenges, and opportunities. It covers various sectors within the industry and offers insights into market size, market share, and market segmentation.
Company Profiles : The report includes additional in-depth information on key company players operating in the industry. It offers detailed profiles of these companies, highlighting their financial performance, product portfolios, strategic initiatives, partnerships, and competitive landscape analysis.
Customization and Analyst Support : The report offers customized services and analyst support upon request. This may include tailored research, specific data requirements, or personalized insights based on the client's needs and preferences.
Recent Market Developments : The report incorporates the latest market developments that have occurred since the previous edition. It includes recent mergers and acquisitions, product launches, collaborations, regulatory changes, and other significant events shaping the industry landscape.
Futuristic Growth Opportunities : The report identifies and presents future growth opportunities in the industry. It explores emerging technologies, market trends, consumer preferences, and regulatory factors that are expected to drive growth and innovation in the coming years.
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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
