Bulk Chemical Industry reports: September 2021

Thursday, 30 September 2021

Narrow Range Ethoxylates Market Size is Expected to Experience a CAGR of 9.0% till 2028

The global Narrow Range Ethoxylates Market size is expected to reach USD 8.04 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.0% from 2021 to 2028. The market growth can be attributed to the increasing use of narrow range ethoxylates as an industrial surfactant in various end-use applications, including paints and coatings, residential and commercial cleaning products, textiles, paper processing, and pesticide formulations.

The cost of raw materials is volatile and is expected to increase exponentially owing to various factors such as low availability and demand and supply consideration. To ensure a sustainable and continuous supply of raw materials, the manufacturers have entered long-term contracts with raw material suppliers.

Narrow range ethoxylates are sold to various end-use industries, including healthcare, household, food, and laundry. Manufacturers have entered long-term contracts with international players, thus operating as distributors and suppliers to expand their regional presence. Furthermore, several manufacturers are focusing on dealing with more than one distributor owing to price competitiveness in the market.

There is a rise in the demand for customized solutions according to the customer and end-user requirements. For instance, Sasol is one of the prominent players engaged in the bulk and custom manufacturing of narrow range ethoxylates. They provide formulations customized to specific industry needs with the highest potency available at competitive prices. Its clientele base ranges from startups to large international players involved in manufacturing agrochemicals, leather, and textile chemicals.

Related Press Release@ Narrow Range Ethoxylates Market Report

Narrow Range Ethoxylates Market Report Highlights

In terms of revenue, commercial cleaning emerged as the largest application segment with a share of 64.9% in 2020. In the commercial cleaning application segment, healthcare, hospitality, and foodservice were the dominant end uses of narrow range ethoxylates. These segments collectively accounted for a major volume share in 2020
Asia Pacific is expected to expand at the fastest CAGR from 2021 to 2028. The growth is attributed to the high demand for household and commercial cleaning applications
North America accounted for the second-largest share of the global demand in 2020. The region is characterized by the presence of multinational corporations and a robust supply chain mechanism catering to end-use businesses
The market is highly dominated by multinational companies, which have diversified distribution channels through multiple partners. Companies generally operate under long-term supply agreements in order to reduce the risk of price fluctuations and stay afloat of the acceptable gross margins

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Medical Device Packaging Market Outlook and Industry Forecast to 2028

The global Medical Device Packaging Market size is expected to reach USD 48.97 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2020 to 2028. The market growth is attributed to the growing demand for medical devices, such as surgical implants and instruments, medical supplies, electro-medical equipment, and in-vitro diagnostic equipment. The increasing aging population that requires advanced medical treatments, coupled with the unhealthy lifestyles of people, has been resulting in the high prevalence of chronic diseases.

These medical device packaging products are manufactured through various technologies, such as heat seal and sterilization, in order to ensure product safety and convenience in use. Furthermore, several other technologies such as seal peal and counterfeit have been utilized by the manufacturers in order to hinder counterfeit and duplicate products in the market. These counterfeit technologies are also used to track the products and offer complete protection against counterfeiting through unique numbering/ serialization.

The medical device packaging industry is concentrated in the developed countries, including the U.S., Germany, the U.K., and China. due to the large production volumes of medical devices in the aforementioned countries. However, the investments in the medical device industry in developing countries, such as India and Brazil, have been growing in recent years, which is expected to benefit the market growth in the coming years.

In vitro diagnostic (IVD) devices witnessed a massives pike in demand in 2020 amid the COVID-19 outbreak. This was due to the amplified demand for infectious disease tests undertaken by countries, such as the U.S., India, China, and the U.K. The countries significantly invested in COVID-19 testing to curb the spread of the coronavirus.

The key companies operating in the market are involved in the acquisition of medium and small size companies aiming to expand their product portfolio and increase manufacturing capacity. For instance, in October 2020, CCL Industries signed an agreement to acquire Denmark-based Graphic West International ApS. The acquisition was aimed to expand the capability to serve healthcare customers in Europe and North America.

Related Press Release@ Medical Device Packaging Market Report

Medical Device Packaging Market Report Highlights

In terms of material, metal is expected to register the highest growth rate of 7.2% over the forecast period. The aluminum-based boxes, trays, and flexible pouches are prominently used products in the industry and offer an effective barrier against moisture, oxygen, and light
By product, pouches and bags dominated the market with a share of over 35.0% in 2020. This is attributed due to the flexible feature that can accommodate medical devices of various shapes and sizes. Their small size and high product-to-package ratio enable easy storage and handling of medical devices
In terms of application, IVDs are expected to expand at the fastest CAGR from 2020 to 2028 due to the increasing demand for infectious disease diagnostic instruments and reagents. This is due to the high demand for the aforementioned medical devices during the ongoing COVID-19 pandemic
Europe emerged as the dominant regional market in 2020. This is due to the presence of several medical device producers that manufacture IVD test kits, ventilators, and other diagnostic devices in the countries, such as the U.K. and Germany
Key players in the market are involved in mergers and acquisitions and geographical expansions

Saturday, 18 September 2021

Optical Coating Market Size Worth $31.4 Billion By 2028

The global Optical Coating Market size is expected to reach USD 31.4 billion by 2028, registering a CAGR of 9.2% over the forecast period, according to a new study by Grand View Research, Inc. The market is estimated to be driven by the growing smart consumer electronics industry across the globe. Consumer electronic devices include smartphones, tablets, phablets, smartwatches, and smart televisions. Rapid urbanization resulting in changes in consumer lifestyles is expected to create lucrative opportunities for smart consumer electronic devices.

This is projected to lead to increased product utilization as they have a superior optical display and high impact resistance. Asia Pacific is a major market for consumer electronics owing to the presence of a large number of key players. The demand in the region has shifted toward Southeast Asian countries, a trend that is likely to continue over the forecast period. A rising focus on electricity generation through clean sources is also expected to drive product demand. However, the global COVID-19 pandemic is severely affecting the manufacturing industries.

This, in turn, is anticipated to negatively impact the market growth in various applications, such as consumer electronics, automotive, aerospace & defense, solar, and architecture. Moreover, the pandemic led to order cancellations and shipping complications throughout the global industry. The reflective products segment is anticipated to register the fastest CAGR over the forecast period due to the rising usage of these products for roofing applications in the construction industry, as they prevent direct sunlight exposure and reduce overall cooling costs.

There has been a rising demand for both commercial and passenger automobiles in emerging economies like South Africa, Mexico, Brazil, India, and China due to the improving standards of living and population growth. This is projected to benefit the automotive coatings industry, which in turn, is expected to propel the product demand. Furthermore, the increasing need for protection against dust, dirt, UV radiation, and harsh climate is anticipated to drive the product demand in the coming years.

Companies in the market experience fluctuating prices of raw materials, which are driven by factors, such as changes in supplier feedstock costs, inventories, demand and supply factors, and government regulations. Therefore, manufacturers have been focusing on developing technologies for the production of efficient products at low costs. In addition, key players are continuously engaged in the diversification of their existing product portfolio to cater to a large customer base, which ultimately enables a strong foothold in the global market.

Related Press Release@ Optical Coating Market Report

Optical Coating Market Report Highlights

Asia Pacific dominated the global market in 2020, in terms of revenue, and is estimated to expand further at the fastest CAGR from 2021 to 2028
Anti-reflective was the largest product segment with a revenue share of over 29% in 2020 due to their high demand from the solar industry
The solar application segment is expected to witness the fastest CAGR over the forecast period
Rising demand for solar photovoltaic (PV) cells and emphasis on solar energy production, especially in emerging countries like China, India, and Japan, is anticipated to augment the growth of the solar segment
In April 2020, Alluxa, a U.S.-based optical coatings and filters manufacturer, launched Ultra Series qPCR filter for integration into medical equipment that performs COVID-19 testing of patient samples