The global blow molded plastics market size was USD 77.07 billion in 2019, and it is projected to reach USD 100.13 billion by 2027, exhibiting a CAGR of 2.8% during the forecast period. The increasing applications of the product in the packaging industry will have a huge impact on the growth of the global market. The presence of several large scale companies in this sector will emerge in favor of the growth of the global market. According to a report published by Fortune Business Insights, titled “ Blow Molded Plastics Market Size, Share & COVID-19 Impact Analysis, By Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS)), By Molding Method (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding), By Application, and Regional Forecast, 2025-2032."
Blow molding is a cost-effective way of manufacturing plastics wherein a heated plastic is molded into a cavity that eventually forms a hollow material or object. The high efficiency of this product, coupled with its low cost, makes it a preferred choice among manufacturers. The massive investments in upgrading manufacturing methods and increasing efforts in product R&D will have a huge impact on the growth of the overall market in the coming years. The presence of several large scale manufacturers across the world, driven by the rising demand and applications of the product will bode well for the growth of the market in the coming years. Additionally, the increasing applications of blow molded plastics across diverse industry verticals will create several growth opportunities.
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Segmentation Analysis:
By Resin: Polyethylene dominated in 2019, led by HDPE (used in bottles, cleaners, toys) and LDPE (used in squeeze bottles, caps, closures).
By Molding Method: Extrusion blow molding held 32.89% share in 2019, widely used for cost-effective bottle production from HDPE, PVC, PP, and others.
By Application: Packaging led the market in 2019, driven by strong demand in food & beverages, pharmaceuticals, and medical industries due to high tensile strength and safety.
Although Product Demand is High, Covid-19 Pandemic to affect Manufacturing Sectors
The recent coronavirus outbreak has created a sense of panic across the world. Although the impact on the pandemic on the blow moulded plastics is nowhere close to what a few other industries have witnessed, there are still a few drawbacks. The efforts taken to curb the spread of the disease have had a negative impact on the market in recent years. Accounting to the rapid spread of the disease, manufacturing sectors have been shut down due to lack of manpower and human labor. As a result, there is a huge demand-supply gap in the global market. The slow recovery rate will affect the growth of the market in the foreseeable future.
Company Mergers and Acquisitions are an Increasing Trend Among Major Companies Across the world
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive demand and increasing applications of blow-molded plastics across the world, companies are focusing on adopting strategies that will help them standout in the competitive environment. In June 2020, Alpha announced that it has completed the acquisition of Bopla S.A. Alpha’s packaging solutions will be enhanced by Bopla’s blow molded and injection solutions. The latter holds an exceptional portfolio in the blow molding segment and this acquisition will not just help Alpha grow but will also influence the growth of the overall blow molded plastics market in the foreseeable future. The report highlights a few other company mergers of recent times and discusses their impact on the global market.
Asia Pacific to Emerge Dominant; Demand for Innovative Packaging Solutions to Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The rising demand for blow molded plastics in this region is consequential to the increasing applications in the food and beverage industry. The product is widely used as a packaging material in several other industries across this region. The increasing population in countries such as India and China will cater to the increasing production capacities of manufacturers in this sector. As of 2019, the market in Asia Pacific was worth USD 37.96 million and this value is projected to rise at a considerable pace in the coming years.
Key Industry Development:
Nov 2018: Krones acquired Germany-based MHT Holding AG, a PET mold and hot runner supplier, to expand its PET value chain and meet rising customer demand.
Mar 2018: IntraPac International acquired Quality Plastics, LLC (Arizona) to strengthen its West Coast presence and enter the HDPE bottles segment.
List of companies profiled in the Blow Molded Plastics Market Report:
- Apex Plastics (U.S.)
- Inpress Plastics Ltd. (UK)
- Garrtech, Inc. (Canada)
- Berry Global, Inc. (U.S.)
- Comar, LLC (U.S.)
- Rutland Plastics Ltd. (UK)
- The Plastic Forming Company, Inc. (U.S.)
- Agri-Industrial Plastics (U.S.)
- Creative Blow Mold Tooling (U.S.)
- North American Plastics, Ltd. (U.S.)
- INEOS Group (UK)
- Other
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The global Wood Plastic Composite market is likely to gain impetus from their increasing application in kitchen accessories, home furniture, vehicle interiors, and car speakers. They are considered to be the highest growing plastic additives at present. This information is given by Fortune Business Insights™ in a recently published report, titled, “Wood Plastic Composite Market Size, Share & Industry Analysis, By Material (Polyethylene, Polypropylene, Polyvinyl Chloride and Others), By Application (Decking, Automotive, Sliding & fencing, Technical Application, Furniture, Consumer Goods and Others), and Regional Forecast, 2025-2032.” The report further mentions that the global wood plastic composite market size was USD 4.77 billion in 2019 and is projected to reach USD 9.03 billion by 2027, exhibiting a CAGR of 8.57% during the forecast period.
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Drivers & Restraints-
Increasing Usage of Sustainable Fibers to Boost Growth
Wood Plastic Composite are green materials that have high potential in bringing about sustainability. They don’t contain excessive chemicals that may pose toxic for the environment and are durable in nature. Plant-based fibers are mainly used in reinforced plastics, instead of fibrous materials as they are cost effective, robust, highly stiff, and annually renewable. Such fibers also emit less carbon dioxide, have low density, and possess biodegradability properties. Numerous automakers worldwide are aiming to develop biodegradable or recyclable parts of vehicles by using sustainable Wood Plastic Composite. They would aid in lowering fuel consumption and production cost, offering shatterproof performance under harsh weather conditions, enhance passenger safety, lower weight of the material, and improve acoustic performance. However, Wood Plastic Composite require higher initial cost spending. It may obstruct growth.
Segment-
Decking Segment to Grow Rapidly Owing to High Demand from Construction Sector
Based on application, the decking segment held 55.55% Wood Plastic Composite market share in 2019. This growth is attributable to their increasing demand from the construction industry. The process of decking requires the usage of such composites as they possess several benefits that help in refining the quality of the material of concrete. They are also used to improve strength and durability.
Regional Analysis-
Rapid Industrialization in China & India to Favor Growth in Asia Pacific
In terms of region, North America procured USD 2.24 billion revenue in 2019 stocked by the rising demand for environmentally-friendly solutions and products in this region. In addition to this, the rising application of Wood Plastic Composite in decking would drive growth. In Asia Pacific, developing countries, such as China and India are experiencing rapid industrialization. Coupled with this, the improvements and modernizations in buildings and road construction activities would accelerate growth in this region. The Middle East and Africa and Latin America are set to exhibit steady growth fueled by the surging number of construction activities in both regions.
Competitive Landscape-
Key Companies Follow Acquisition Strategy to Gain Competitive Edge
The market is fragmented with the presence of more than 100 organizations accounting for the total revenue across the globe. They are constantly investing huge sums in research and development activities to innovate their in-house Wood Plastic Composite. Some of them are also adopting the strategy of mergers and acquisitions to enhance their product offerings. Below are a couple of the latest industry developments:
- August 2018 : Alvic Plastics Limited was acquired by BSW Group. This new deal would aid BSW in broadening its product portfolio and production capacity. It would also enable the company to bring in diversification to increase its range of products.
- November 2015 : Vannplastic Limited, a prominent manufacturer of wood plastic composite was acquired by the Boral Epwin Group for an initial consideration of approximately USD 5.67 million. It would aid Boral in widening its line of low maintenance building materials.
Fortune Business Insights™ lists out all the manufacturers present in this market. They are as follows:
- Seven Trust (China)
- Meghmani Group (India)
- Beologic (Belgium)
- Trex Company, Inc. (U.S.)
- UFP Industries, Inc. (U.S.)
- Fiberon LLC (U.S.)
- Axion International, Inc. (U.S.)
- Josef Ehrler GmbH & Co KG (Germany)
- Croda International Plc (UK)
- CertainTeed (U.S.)
- Others
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The global abrasives market size was valued at USD 45.95 billion in 2023 and is projected to grow from USD 48.66 billion in 2024 to USD 76.93 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period. Fortune Business Insights in its latest report, titled, “Abrasives Market, 2025-2032.”
The market growth is largely driven by rising demand from the automotive, construction, aerospace, and metal fabrication industries. Among products, bonded abrasives hold the largest share due to their extensive use in precision grinding and cutting applications, while superabrasives such as diamond and cubic boron nitride (CBN) are witnessing the fastest growth in advanced machining.
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Segments:
Synthetic Segment to Lead Global Market Due to Rising Application
By material, the market is bifurcated into natural and synthetic. The synthetic segment is anticipated to lead the global market share due to high application of these products in various elements.
High Abrasive Use in Different Products to Boost Coated Segmental Growth
Based on product type, the market is trifurcated into bonded, coated, and super. The coated segment is anticipated to grow during the projected period. The increasing use of coated abrasives in consumer goods, furniture, surgical products, and fabrication products is anticipated to fuel the segmental growth.
Metal Fabrication to Propel Growth During Forecast Period
On the basis of application, the market is divided into automotive, electrical & electronics, metal fabrication, machinery, and others. The metal fabrication segment will grow in the coming years due to the rising demand for metal equipment.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides complete information and insights on recent developments and trends in the market. Also, the impact of COVID-19 pandemic on global market development is highlighted further in this report. Furthermore, the drivers and restraints affecting the market growth during the projected period are mentioned further in the report. Regional market insights on segmented market areas are provided further along with a list of key market players in the industry.
Drivers & Restraints:
Increasing Demand from the Automotive Sector to Propel Growth
The market is anticipated to witness prominent growth during the forecast period due to the rising product application for construction activities. Also, the increasing demand for these products from the automobile sector is projected to fuel the global abrasives market growth during the forecast period. The surging product demand for coating applications is anticipated to boost market share.
Regional Insights:
Asia Pacific Holds Dominant Market Share Due to Rapid Commercialization
Asia Pacific is estimated to dominate the global abrasives market share during the forecast period due to the rising technological advancements. Also, increasing industrialization and rising commercialization are projected to fuel regional market growth in the coming years. The regional market stood at USD 22.89 billion in 2021.
Competitive Landscape:
Strategic Acquisition Allow Companies to Propel Growth
The leading companies in this industry focus on various strategies to improve their business performance. The companies form strategic alliances and partnerships to globalize their brand and propel growth.
Key Industry Development:
- December 2021: Carborundum Universal (CUMI), the German subsidiary of Murugappa Group, announced the acquisition of Awuko, a major market player. The acquisition is an asset purchase agreement to acquire the assets of Awuko.
List of Key Players Profiled in the Report :
- The 3M Company (U.S.)
- Saint-Gobain (U.S.)
- Krebs & Riedel (Germany)
- Asahi Diamond Industrial Co., Ltd. (Japan)
- Robert Bosch GmbH (Germany)
- Fujimi Incorporated (Japan)
- Henkel AG & Co. KGaA (Germany)
- Carborundum Universal Limited (India)
- NIPPON RESIBON CORPORATION (Japan)
- KWH Mirka (Finland)
- NORITAKE CO., LIMITED (Japan)
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The global compostable packaging market size was valued at USD 80.76 billion in 2024. The market is projected to grow from USD 85.43 billion in 2025 to USD 132.86 billion by 2032, exhibiting a CAGR of 6.51% during the forecast period. Compostable packaging is an eco-friendly form of packaging that can be easily composted by customers at home or at an industrial composting plant. It is a sustainable alternative to single-use plastics that can help users decrease their plastic waste. The increasing adoption of eco-friendly packaging products will accelerate the market’s growth.
Fortune Business Insights presents this information in a report titled " Compostable Packaging Market, 2025-2032 ."
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Segments:
By Material: Polylactic acid (PLA) dominates the compostable packaging market with 31% share in 2024, driven by its biodegradable, edible, and carbon-neutral properties.
By Product Type: Bags & pouches lead the market, supported by strong demand from food, beverage, pharma, and personal care industries, holding 34% share in 2025.
By End-use Industry: Food & beverages is the top end-use segment, fueled by rising online food delivery and eco-friendly packaging needs, expected to capture 51% share in 2025.
Report Coverage:
The report has conducted a detailed analysis of the market and focused on several critical aspects, such as leading end uses, applications, and top market players. It has also highlighted the most recent market trends and the key developments in the industry. In addition to the factors mentioned above, the report delves into several other factors that have helped the market grow.
Drivers:
Increasing Inclination Toward Eco-Friendly Packaging Solutions to Drive Market Expansion
Customers in developed countries are becoming aware of the impact of their daily lifestyle choices on the environment. Rise in the consumption of plastic-based packaging products has made them realize the harmful effects of plastic pollution on the planet. These factors have increased their inclination toward eco-friendly packaging products, thereby fueling the sales of compostable packaging solutions.
However, there is a severe lack of technologies that can help create innovative compostable packaging products, which can restrain the market’s growth.
Regional Insights
North America Leads Global Market Growth Due to Government Support for Eco-Friendly Packaging Products
North America dominates the global compostable packaging market share as governments across the region are offering their support in the form of initiatives to promote the use of eco-friendly packaging solutions.
Europe has emerged as the second-leading region due to the ban on single-use plastics and growing adoption of eco-friendly packaging products.
Asia Pacific will also witness remarkable growth due to the high demand for eco-friendly packaging solutions.
Latin America and the Middle East & Africa will showcase moderate growth due to the steady expansion of the food & beverage and cosmetics industries in these regions.
Competitive Landscape
Key Players to Launch Novel Products and Expand Product Range to Cement Market Position
Some of the leading players in this market include Crawford Packaging, TIPA Ltd., Novamont S.p.A., Green Dot Holdings LLC, BioGreen Packaging, SmartSolve Industries, Clearwater Paper Corporation, Ultragreen Sustainable Packaging, Kruger Inc., and SAES Coated Films S.p.A., among many others. These companies are introducing novel products in the market and increasing their product range to meet multiple packaging requirements of their customers.
Key Industry Development
- August 2022: TIPA launched a new compostable packaging product made from a mix of polymers. The newly launched product caters to the diverse performance requirements of various packaging applications, thereby serving the fresh produce, fashion, and dry foods & snacks markets.
List of the Companies Profiled in the Market:
- Amcor (Switzerland)
- Genpak (U.S.)
- Good Start Packaging (U.S.)
- Graphic Packaging Holding (U.S.)
- International Paper (U.S.)
- Mayr-Melnhof Karton (Austria)
- Mondi (Austria)
- Pappco Greenware (India)
- Pactiv Evergreen (U.S.)
- Sealed Air (U.S.)
- TIPA (Israel)
- Ultra-Green Sustainable Packaging (U.S.)
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The global geotextiles market size was valued at USD 3.39 billion in 2023 and is projected to grow from USD 3.62 billion in 2024 to USD 6.14 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period. Fortune Business Insights in its latest report, titled, “Geotextiles Market, 2022-2029.” The report further observes that the market stood at USD 9,014.2 million in 2020 and is projected to exhibit a CAGR of 7.7% between 2021 and 2028. This is attributed to factors such as the increasing spending on construction projects that is expected to boost the adoption of geotextiles worldwide.
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Market Segmentation:
By Material
The synthetic segment, comprising polypropylene (PP), polyester, polyethylene, and others, dominates the market. Among these, PP is expected to lead due to its high strength, low elongation, and durability, making it ideal for roads, dams, railways, and erosion control applications.
By Product
The non-woven segment is projected to hold the largest share, driven by infrastructure development in roads, railways, and airports. Non-wovens are preferred for soil separation, drainage, reinforcement, and filtration due to their lightweight, durability, and resistance to temperature and wear. In the EU, about 60% of geotextile nonwovens are used in road construction, contributing to reduced carbon emissions.
DRIVING FACTORS
Increasing Investment in Construction Projects to Promote Growth
According to the U.S. Commerce Department, the spending on construction projects was at a record high in January 2021. It further reports that the total investment surpassed to a staggering USD 1.521 trillion, an overall increment of 1.7%. The increasing spending on construction projects is likely to boost the adoption of coir products owing to their superior properties such as liquid repellency and mechanical strength. Moreover, supportive government policies formulated for coir manufacturers to improve their production will boost the global geotextiles market growth in the forthcoming years.
Further Report Findings:
- Asia Pacific stood at USD 3,038.1 million in 2020. The region is expected to hold the highest position in the market during the forecast period. This is attributable to the increasing government initiatives to develop infrastructure in countries such as India and China.
- North America is expected to showcase considerable market growth backed by the presence of highly developed drainage systems that require periodic maintenance propelling the demand for advanced geotextiles in countries such as the U.S. and Canada.
- Based on product, the woven segment held a global geotextiles market share of about 34.18% in 2020 and is anticipated to showcase significant growth in the forthcoming years. This is ascribable to factors such as the increasing demand for woven products due to their beneficial properties such as improved performance and reduced maintenance costs across the globe.
COMPETITIVE LANDSCAPE:
Investment in R&D by Key Players to Amplify Their Market Positions
The market is consolidated by major companies striving to leverage the lucrative opportunities to maintain a stronghold. These companies are focusing on investments in R&D activities to develop novel natural geotextiles to cater to the growing demand from the construction sector. Moreover, other key players are trying to maintain their presence by adopting strategies such as collaboration, facility expansion, and the introduction of new products that will contribute to the growth of the market in the forthcoming years.
Industry Development:
- March 2020 - Megaplast, an Indian polyethylene product manufacturer, announced the adoption of BASF’s light stabilizers from the Chimassorb to produce nonwoven geotextiles. They are likely to be utilized in the construction of national highways.
List of the Companies Profiled in the Market:
- Maccaferri (Bologna, Italy)
- TENAX (Lecco, Italy)
- TenCate Geosynthetics Asia Sdn Bhd. (Selangor Darul Ehsan, Malaysia)
- GSE Environmental (Texas, the U.S.)
- Terram Geosynthetics Pvt. Ltd. (Gujarat, India)
- HUESKER Synthetic GmbH (Gescher, Germany)
- Global Synthetics (New South Wales, Australia)
- TYPAR Geosynthetics (Tennessee, the U.S.)
- Fibertex Nonwovens A/S (Aalborg, Denmark)
- Belton Industries (South Carolina, the U.S.)
- Thrace Group (Alimos, Greece)
- NAUE GMBH & CO. KG (Espelkamp, Germany)
- SKAPS Industries (Georgia, the U.S.)
- Other Key Players
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Carbon Offsets Market Demand Forecast to 2032 — Size, Share & Industry Trends
By Pallavi G, 2025-09-05
The global carbon offsets market size was valued at USD 1,064.81 billion in 2023 and is projected to grow from USD 1,205.40 billion in 2024 to USD 3,230.29 billion by 2032, exhibiting a CAGR of 13.1% during the forecast period. The global carbon offsets market is experiencing strong growth as governments, corporations, and consumers prioritize reducing greenhouse gas (GHG) emissions. Compliance frameworks under the Paris Agreement, combined with rising voluntary participation from industries, are driving demand for carbon credits and offset projects. The market is expected to grow steadily through 2032, supported by stringent climate policies and increasing corporate commitments toward sustainability.
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Carbon Offsets Market Segmentation Analysis:
By Type
The compliance market dominated in 2023, driven by stricter emission limits under the Paris Agreement. Governments issue carbon credits, encouraging industries to invest in offset projects like avoidance/reduction and removal/sequestration, boosting segment growth.
By Project Type
Avoidance/reduction projects held the largest share in 2023 due to rising initiatives across Europe, Asia Pacific, and North America to cut emissions. The removal/sequestration segment is steadily growing, supported by cost-effective methods such as oxy-fuel, post-combustion, and industrial separation to capture CO₂.
By End-user
The renewable energy sector led in 2023, with rising CO₂ emissions and health concerns driving investments in projects like hydro and wind. These reduce reliance on fossil fuels and lower carbon emissions, strengthening the segment’s growth.
Report Coverage:
The report provides an account of the major factors set to drive the industry expansion over the forthcoming years. It further presents an overview of the key trends in the market. An analysis of the industry based on various segments has also been presented in the report.
Drivers and Restraints:
Stringent Government Regulations to Propel Industry Growth
Following the Kyoto Protocol of 1977 and the Paris Agreement of 2015, the governments of various nations have put limits on CO2e emissions. This led to an increased government emphasis on the promotion of the carbon credit system for a range of projects, including reforestation, carbon capture, and renewable energy. Considering these factors, the enforcement of strict regulatory policies is touted to boost carbon offsets market growth over the coming years.
However, the lack of awareness regarding carbon credit trade may restrain industry expansion.
Regional Insights:
Europe Recorded Major Share Owing to Soaring Investments in Sustainability Projects
Europe registered a dominating share of the market in 2022 which is favored by the rising investments in sustainability projects. The regional market size stood at USD 750.53 billion in 2022.
North America market size is set to surge owing to the enforcement of environment policies in countries in the region. These policies have led to an increase in investments focused on renewable energy projects.
Competitive Landscape:
Major Players Undertake Various Strategies to Secure a Competitive Edge
Leading companies are deploying a range of strategies for gaining a competitive edge. Some of these steps include acquisitions and the launch of new carbon offsets. A few of the key players in the market are EcoAct, NativeEnergy, and others.
Key Industry Development:
August 2023 – The Global Carbon Council, based in Doha, has announced its intention to list its carbon offset programs on the MENA exchanges platform in Qatar. This strategic move aims to attract a wider pool of investors and stimulate the growth of active carbon emission projects in the Middle East region.
List of the Key Players in the Carbon Offsets Market:
- Carbon Credit Capital (U.S.)
- Native (U.S.)
- Green Mountain Energy Company (U.S.)
- EcoAct (U.K.)
- Greenfleet (U.S.)
- ALLCOT (Switzerland)
- 3Degrees Group, Inc. (U.S.)
- WayCarbon (Brazil)
- South Pole (Switzerland)
- TerraPass (U.S.)
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The global water soluble packaging market was valued at USD 3.78 billion in 2024. The market is projected to grow from USD 3.97 billion in 2025 to USD 5.65 billion by 2032, exhibiting a CAGR of 5.17% during the forecast period. Water soluble packaging technology renders packages biodegradable as these materials dissolve completely in water without leaving any residue. Increasing environmental awareness drives the adoption of biodegradable materials such as polysaccharide protein-based films. This meets consumer demand for eco-friendly packaging options and propels market expansion.
Fortune Business Insights™ provides this information in its research report, titled “ Water Soluble Packaging Market, 2025-2032”.
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Segmentation:
Polymer Segment Dominates owing to Exceptional Compatibility
In terms of material, the market is segmented into polymers {Polyvinyl Acetate, Polyvinyl Alcohol}, surfactants, and fibers. The polymers segment holds the largest water soluble packaging market share. Polymers exhibit compatibility with diverse product ingredients, including enzymes and aggressive chemicals, making them suitable for various applications, thus boosting segment growth.
Films Segment to Lead the Market Owing to its Ability to Provide Convenient Solution
In terms of product type, the market is fragmented into pouches, sachets, films, bags, and pods & capsules. Films capture the largest share of the market. Water soluble films eliminate the need to handle potentially harmful substances and provide convenient solutions for single-use products such as laundry or dishwasher pods, enhancing their demand and driving segment growth.
Hot Water Segment Holds the Largest Share due to Versatility in Applications
In terms of temperature, the market for water soluble packaging is fragmented into cold water and hot water. The hot water segment secures the largest share of the market. With applications spanning in laundry detergents, cleaning agents, and dishwashing detergents, fueling the segment growth.
Households Segment Holds the Largest Share due to Increased Demand for Convenient Packaging Solutions
By end-use industry, the market is divided into food, healthcare, agriculture, household, water treatment, building & construction, and others. The households segment captures the largest share in the end-use industry segment. The convenience offered by water-soluble packaging in household products such as laundry detergent pods and cleaning solutions drives its adoption among households, leading to segment growth.
In terms of region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report offers comprehensive market analysis, covering leading companies, competitive landscape, product/service types, and market shares, along with key application insights and industry trends.
Drivers and Restraints:
Surge in Demand for Water Soluble Films with Sustainable Factors to Boost Market Growth
Heightened environmental concerns worldwide are fostering a growing demand for eco-friendly packaging solutions such as water-soluble films, stimulating water soluble packaging market growth. The user-friendly features of water-soluble packaging, such as ease of use and convenience, appeal to manufacturers. They facilitate the production of single-use packs, preventing wastage and spillage among end-users, thus driving market expansion.
However, the elevated cost of water-soluble packaging, exacerbated by fluctuations in raw material prices, presents significant challenges, limiting the affordability for consumers.
Regional Insights:
Asia Pacific Dominates the Market Owing to Government Initiatives for Plastic Reduction
The Asia Pacific region leads the market due to stringent governmental regulations focused on reducing plastic packaging usage. These regulations drive demand for sustainable alternatives such as water soluble packaging, contributing significantly to market growth.
Stringent regulatory measures coupled with growing consumer awareness of the environmental impact of traditional packaging materials serve as primary drivers propelling growth in the North America.
List of Key Market Players:
- Mondi (U.K.)
- Sekisui Chemicals (Japan)
- Kuraray Co. Ltd. (Japan)
- Cortec Corporation (U.S.)
- Arrow Greentech Ltd. (India)
- Shandong Huazhilin Pharmaceutical Technology Co., Ltd. (China)
- MSD Corporation (China)
- Green Master Packaging (Australia)
- Rovi Packaging (Spain)
- Green Cycles (Spain)
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The global nickel market size was USD 41.61 billion in 2023 and is projected to grow from USD 44.59 billion in 2024 to USD 73.15 billion by 2032 at a CAGR of 7.3% during the forecast period. Nickel (Ni) is a naturally occurring silvery-white, shiny metallic element. Because of its remarkable physical and chemical qualities, the substance is a required component in a variety of products. Its principal use is alloying stainless and heat-resistant steels, particularly with chromium and other metals. Lower-grade Ni ore can now be processed because of advances in mining, smelting, and refining technology. Furthermore, rising exploratory operations by mining corporations, fueled by low commodity prices, are expected to enhance Ni metal uptake. Furthermore, increasing technological advancements in stainless steel and rising consumer spending on Ni-based items, such as alloys and batteries, would boost global market expansion over the anticipated timeline.
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Segments-
On the basis of application, the market is fragmented into special steels, stainless steel, batteries, alloys, electroplating, and others. Geographically, the market is classified into Asia Pacific, South America, North America, Europe, Asia Pacific, the Middle East & Africa.
Drivers & Restraints-
Increasing Demand for Stainless Steel to Augment Market Growth
Product adoption will be aided by rising stainless steel demand in automotive, consumer goods, and construction industries. Stainless steel accounts for more than two-thirds of global Ni use, according to the Nickel Institute Organization. The product enhances the steel's formability, weldability, and ductility. When utilized as an alloying element, it also provides corrosion resistance in specific applications. Stainless steel's strong demand in numerous industries can also be ascribed to its many features, including its lightweight, high tensile strength, durability, and ease of manufacture. As a result, increased stainless steel consumption will boost product demand during the anticipated timeframe. Ni's price has risen, making it a more expensive raw material for a variety of uses and industries.
Regional Insights-
Technological Advancements in Asia Pacific to make it a Leading Region
In 2020, the Asia Pacific market was valued at USD 26.92 billion. In Asia Pacific, the nickel market growth has been supported by increased technological advancement in stainless steel to make it more sustainable. China has the largest nickel market share and is the fastest-growing country in the region. The rise is linked to China's fast-increasing construction and automotive industries, as well as rising research and development activities and rapid infrastructure projects, all of which are helping to stimulate product demand.
Stainless steel is mostly used in electric vehicles in Europe. The product demand in this region will be fueled by rapid growth of the automobile sector as well as increased technological advancement. The U.S. is a leading country in North America. Stainless steel production in this region has been spurred by rapid expansion of the building industry. The increased demand for Ni metal can be due to its high flexibility, good energy absorption, and explosion-resistant qualities.
Competitive Landscape-
Companies Expand their Business as a Strategic Initiative
Vale, BHP, Anglo American plc, and Eramet are among the market's leading producers. These businesses are involved in product development, capacity expansion, acquisitions, and market collaborations. Anglo American is a mining firm that deals in Ni, diamonds, platinum, copper, and iron ore. Codemin mine produces around 9,000 tonnes of Ni per year for the domestic market.
Industry Development-
- December 2021: Nicomet, a leading nickel and cobalt (Co) company, was acquired by Vedanta. Nicomet has a production capacity of 7.5 tonnes of Ni and Co per year. This purchase will assist the company in meeting the growing demand for batteries and stainless steel.
- March 2025 - Anglo American reported a 3% year-over-year increase in Q1 2025 nickel production, totaling 9,800 tonnes, driven by operational stability at the Barro Alto mine. The company also announced the sale of its nickel business to MMG Singapore Resources Pte. Ltd., expected to be completed by Q3 2025.
List of Key Market Players:
- Anglo American plc (U.K.)
- BHP (Australia)
- Eramet (France)
- Norilsk Nickel (Russia)
- Sumitomo Metal Mining Co., Ltd. (Japan)
- Glencore (Switzerland)
- Sherritt International Corporation (Canada)
- Vale (Brazil)
- Jinchuan Group International Resources Co. Ltd (Hong Kong)
- Terrafame Ltd. (Finland)
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About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
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Maharashtra, India.
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UK: +448085020280
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