Bulk Chemical Industry reports: March 2021

Tuesday, 30 March 2021

Tube Packaging Market Growth, Opportunities and Forecast To 2028 | Essel Propack Limited, VisiPak, Sonoco Products Company

The global Tube Packaging Market size is expected to reach USD 16.11 billion by 2028 registering a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand from end-use industries including personal care, cosmetics, and oral care is expected to drive the market growth. Higher consumer awareness about health and wellness is expected to increase the demand for anti-tan, anti-aging, sun blocks, and other creams, which, in turn, is expected to drive the market over the forecast period.

Tube packaging has higher applicability in the healthcare industry owing to its ability to maintain optimal packaging conditions to prolong the shelf life of the packaged products. Thus, the ease of applicability and easy dispensability is expected to contribute to the rising product demand in healthcare applications. Increasing healthcare spending across the globe is expected to drive the pharmaceutical industry. This is expected to augment market growth.

The Covid-19 pandemic is expected to result in economic instability and thus increasing unemployment for the short term. As per the International Monetary Fund (IMF), over 170 countries across the world witnessed a decline in per capita income in 2020. This changing income pattern is expected to affect the demand for luxurious or high-end cosmetic products, which, in turn, will have a negative impact on the market growth. The market is highly competitive and moderately fragmented with the presence of multiple global and regional players. Domestic players are constantly challenging global companies, in terms of product development and innovation.

Related Press Release @ Tube Packaging Market Report

Tube Packaging Market Report Highlights

The laminated product segment is expected to register the fastest CAGR of 7.0% from 2021 to 2028. Laminated tube is the most preferred form of packaging for premium cosmetics and other premium skincare and pharmaceutical products owing to its ability to combine the benefits of both metal and plastic in one solution
North America led the market in 2020 and is projected to retain the dominance over the forecast period owing to the presence of global cosmetics and pharmaceutical product manufacturers
Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028 owing to high product demand as a result of increased consumer spending
The squeeze and collapsible type segment accounted for the largest share in 2020. The segment will retain its leading position register the fastest CAGR over the forecast period

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Friday, 12 March 2021

Chlorine Trifluoride Market Worth $62.98 Million By 2028 | CAGR 4.2%

The global Chlorine Trifluoride Market size is expected to reach USD 62.98 million by 2028 registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The demand for the product is expected to be driven by the rapidly growing semiconductor industry. The industry dynamics of chlorine trifluoride (CIF3) are largely influenced by application markets, such as nuclear fuel processing and semiconductor production. Rapid digitalization and automated industrial manufacturing solutions have led to high penetration of electronic gadgets and components on a global scale, which requires various chemicals for constant maintenance and cleaning purposes. In the semiconductor industry, CIF3 is extensively utilized to clean chambers of chemical vapor deposition.

The major advantage is that the process of cleaning can be carried out without dismantling the chamber walls as ClF3 doesn’t require activation by plasma. The substance also finds application as a fluorinating agent in nuclear reactor fuel processing. Germany's ClF3 gas market is majorly driven by a high concentration of major semiconductor manufacturers across the country. The country is the largest producer of electronics products globally and is one of the largest exporters of semiconductor equipment. Production of industrial electronics accounted for about 50% of the total Europe CIF3 market share in 2020, which indicates noteworthy growth prospects for ClF3. Increasing demand for the gas, which results in a substantial decrease in emissions, longer chamber lifespan, and quicker cleaning rates, is expected to boost the market growth over the forecast period.

Request a free sample copy or view report summary: Chlorine Trifluoride Market Report

Chlorine Trifluoride Market Report Highlights

The semiconductor manufacturing application segment is expected to witness the fastest CAGR, both in terms of volume and revenue, from 2021 to 2028 due to the increasing demand for electronic and chamber cleaning products
The rocket propellant systems application segment accounted for a revenue share of 22.3% in 2020 owing to the constant technological advancements and high investments in space exploration activities
In the Asia Pacific region, India is anticipated to register the fastest growth rate of 4.6%, in terms of volume, from 2021 to 2028
This growth can be attributed to the entry of semiconductor manufacturing companies and significant government investments in space exploration activities
South Korea accounted for a market share of 4.7% in the Asia Pacific regional market on account of the thriving semiconductor industry in the country