Bulk Chemical Industry reports: January 2022

Thursday, 27 January 2022

Europe Natural Dyes & Pigments Market Share, Growth and Future Analysis

The Europe Natural Dyes And Pigments Market size is anticipated to reach USD 2.18 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 10.1% over the forecast period. The market is anticipated to witness growth due to the increasing demand for digital inks in fabrics and printing inks. Moreover, the raw material price volatility and environmental concerns arising during the manufacturing of synthetic dyes and pigments have further contributed to the development of the natural dyes and pigments market in Europe.

Natural dyes offer better UV protection than synthetic dyes. They exhibit higher UV absorption in the fabrics and result in protection from the sun’s harmful rays. Synthetic colorants tend to be harmful, rendering allergic and intolerance reactions in humans. The non-carcinogenic, non-toxic, and biodegradable characteristics of natural dyes and pigments have proved to be a safer alternative to synthetic colorants in the cosmetic industry.

Key players in the market are carrying out research and development to expand their product offerings. For instance, in July 2021, GNT Group B.V., a company specializing in creating dyes from fruit, vegetables, and edible plants, expanded its range of plant-based EXBERRY colors by launching two new green shades made from turmeric and spirulina.

The Europe market for natural dyes and pigments has witnessed an increase in merger and acquisition activities by key players to strengthen their position in the market. As of 11th October 2021, Givaudan announced the acquisition of DDW The Color House which produces colors from natural sources like fruits, vegetables, and seeds and caters to the food sector. This acquisition is expected to enable Givaudan to become a global leader in natural colors.

In October 2020, Givaudan launched New Red 1805, a vegan high-performance red pigment for use in make-up formulations. It has been crafted for lipstick creation in cosmetics applications. The introduction of new natural pigments is expected to result in market growth for natural dyes & pigments in Europe.

Related Press Release@ Europe Natural Dyes & Pigments Market Report

Europe Natural Dyes & Pigments Market Report Highlights

The phycocyanin pigments product segment is expected to witness the highest CAGR of 11.8%% over the forecast period in terms of revenue. Phycocyanin segment has a more epitome blue colorant than indigo and gardenia and is expected to witness an increase in demand due to the growing food and beverage industry in Europe over the forecast period
The growing demand for natural dyes and pigments in Europe is driven by the increasing demand for natural ingredients-based cosmetics and the consumer preference for natural food colorants
Natural dyes and pigments are more expensive than their synthetic counterparts since their production involves advanced technological processes such as the systematic extraction of pigments, which increases their price. This is expected to hinder the market growth
Germany accounted for a share of more than 19.0% of the overall revenue in 2020. It is expected to witness a growth of over 10.0% during the forecast period

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Tuesday, 18 January 2022

Polyamide Market Worth $53.32 Billion By 2028 | CAGR: 6.2%

The global Polyamide Market size is expected to reach USD 53.32 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Increasing adoption of polyamide in numerous industries, including automotive, electrical and electronics, consumer goods and appliances, packaging, and textiles is projected to fuel the market growth during the forecast period. Polyamides are widely used in the exterior parts of vehicles such as front-end grilles, fuel caps, wheel covers, doors, exterior mirrors, and tailgate handles.

Polyamide composites are expected to witness high demand from the automotive industry due to factors such as excellent mechanical properties, wear resistance, and the growing need for lightweight vehicles in order to improve fuel efficiency. Polyamide has been extensively used in the engine compartment to replace steel parts owing to the benefits derived from them such as lower weight and greater design flexibility as against traditional metals.

Key players in the market are continuously carrying out innovations and developing new versions of polyamide compatible with new polymer processing technologies. For instance, in May 2021, Evonik Industries AG successfully tested its INFINAM PA 6005 P (polyamide 613 material) on the ST252P and HT403P laser sintering 3D printing systems developed by Farsoon Technologies. The INFINAM PA 6005 P with a high melting point of 215°Cexhibited compatible properties to be processed by 3D printing systems.

In addition, the establishment of global partnerships to increase dominance in advanced materials is expected to drive the market over the forecast period. In May 2020, LANXESS announced the formation of a new supplier partnership with Chase Plastics. This partnership is expected to create a distribution channel for Durethan PA6 and Pocan PBT developed by LANXESS.

Environmental awareness has propelled many electronics companies to utilize bio-based polyamides as a part of their sustainability goals and they have deployed the production of the same to support the strong growth in demand for advanced bio-circular materials. This can prove to be one of the major driving factors for the production of polyamides over the forecast period. In April 2021, Arkema announced to begin the production of Amino 11, a bio-based polyamide, at its new plant on Jurong Island, Singapore. This plant is expected to utilize castor beans to produce bio-based polyamide and it represents a 50% increase in Arkema’s global polyamide 11 capacity.

Related Press Release@ Polyamide Market Report

Polyamide Market Report Highlights

In terms of product, the polyamide 6 segment accounted for the largest revenue share in 2020 and is expected to witness prominent growth over the forecast period
Based on application, in the engineering plastics segment, the automotive segment captured the largest share in terms of revenue in 2020
In 2020, Asia Pacific accounted for the largest revenue share of more than 40.0%. Ascending demand for electric vehicles is expected to have a positive impact on the global automotive industry. The introduction of electric vehicles by automotive manufacturing players such as Tesla, Volkswagen AG, BYD Co Ltd., Hyundai Motor Company, and Nissan is anticipated to provide further impetus to the regional market growth

Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in December 2020, Star Plastics announced a global partnership with LATI, a European manufacturer of engineering thermoplastics, with the aim of expanding material offerings in North America, Europe, and Asia

Friday, 14 January 2022

Sodium Nitrate Market Size Worth $149.2 Million By 2028

The global Sodium Nitrate Market size is expected to reach USD 149.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.7% from 2021 to 2028 and is majorly driven by the rising product demand in fertilizer application because of its ability to increase the crop yield. Sodium nitrate is mainly manufactured using nitric acid with soda ash. Nitric acid is subject to intense price and supply volatility in the global market as it is manufactured from ammonia and nitrogen dioxide. Fluctuations in the price and demand/supply of the aforementioned raw materials are expected to hamper the prices of sodium nitrate over the forecast period.

Central and South America dominated the global market and accounted for the largest revenue share in 2020 It is expected to maintain its dominance throughout the forecast period due to the growing agriculture activities in countries like Brazil, Argentina, and Peru. Brazil is one of the largest producers of soybeans, wheat, rice, and coffee among other Central & South American countries. The agricultural sector in the country is expected to grow at a fast pace due to the presence of highly cultivable land and suitable climatic conditions.

The spread of the COVID-19 virus has crippled economies across the globe and severely impacted the supply chains across industries. The production and consumption of sodium nitrate are highly influenced by its demand from end-use industries. The market is characterized by the presence of a mix of small-&medium-scale producers with regional expansion aspirations. This scenario is expected to change over the forecast period owing to the rising demand for food. Most of the players in the market are focusing on differentiating themselves from other players as the market is highly competitive and concentrated. Manufacturers are also continuously engaged with third-party distributors.

Related Press Release@ Sodium Nitrate Market Report

Sodium Nitrate Market Report Highlights

In terms of volume, the industrial segment dominated the market in 2020. This high share was credited to the increased demand for fertilizers in the agriculture industry
In terms of revenue, the fertilizer application segment dominated the industry and accounted for the largest share of more than 68% in 2020
In terms of revenue, Asia Pacific is anticipated to be the fastest-growing regional market at a CAGR of 6.5% from 2021 to 2028 due to growing agriculture activities
Manufacturers are involved in increasing their production capacities to meet the growing product demand from various end-use sectors

Thursday, 13 January 2022

Plastics in Consumer Electronics Market Size is Estimated to Witness 3.8% CAGR till 2028

The global Plastics In Consumer Electronics Market size is expected to reach USD 7.70 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.8% from 2021 to 2028. Increasing demand from the smartphone & wearable products industry is anticipated to fuel the demand for plastics in consumer electronics. The smartphone market offers opportunities for usage of a variety of plastic resins, such as Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), and Polymethyl Methacrylate (PMMA), as they are used for manufacturing housings for electronic devices, mounting frames, display frames, and vibration cushions that are lightweight and durable.

Proximity to raw material suppliers and low labor costs are attracting consumer electronics manufacturers in China. The presence of several key consumer electronics manufacturers is anticipated to create significant demand for plastics. Furthermore, increasing demand for appliances in India is anticipated to boost product demand across the electronics industry. In addition, rapid urbanization is expected to propel the demand for mobile phones, laptops, television, and other electronic appliances across India.

Metal alloys have been vastly used for manufacturing electronic components. Alloys are preferred due to their durability and better heat-conducting property. For example, aluminum alloys of grade 7000 series and 6000 series are used mainly in the chassis of laptops or sometimes for their entire casing. For instance, the bottom chassis of Apple’s Mac book is made up of aluminum. iPhone and iPad bodies are made of aluminum alloys as well.

The technology lifespan of consumer electronics is less as post the launch of the product, the competitors undergo reverse engineering processes to develop a similar or updated version of the technology. Hence, the older versions of products are often discarded by consumers. With the growth of technologically advanced equipment, there is no significant system to manage the discarded old products, which has resulted in the growth of e-waste.

Related Press Release@ Plastics in Consumer Electronics Market Report

Plastics in Consumer Electronics Market Report Highlights

In terms of revenue, the PC product segment accounted for the largest share in 2020 and is projected to expand further at a steady CAGR over the forecast period
The laptop monitors enclosures segment dominated the market and accounted for more than 22% of the overall revenue share in 2020
In 2020, the Asia Pacific region accounted for the maximum revenue share of the global market and will expand further at the fastest CAGR from 2021 to 20208
This growth is credited to the presence of a well-established manufacturing base for electrical & electronics in China, Japan, and South Korea
Major players are continuously working on developing bio-degradable polymers owing to the rising environmental concerns
For instance, in November 2020, SABIC announced the expansion of its product portfolio of Cycoloy & Lexan PC resins with high Post-Consumer Recycled (PCR) materials for application in consumer electronics, such as laptops, copiers, printers, adapters, and chargers for improving plastic recyclability

Thursday, 6 January 2022

Chloroprene Rubber Market Worth $1.39 Billion By 2028

The global Chloroprene Rubber Market size is expected to reach USD 1.39 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 4.6% from 2021 to 2028. Increasing adoption of chloroprene rubber in the automotive, electrical & electronics, construction, and textile industries is projected to fuel the market growth during the forecast period. It is widely used in tire sidewalls, automotive trims, gaskets, and related products owing to the rising demand for Electric Vehicles (EVs).

The growing requirement for electrical power is expected to drive the demand for electric cables for power transmission. This is expected to drive the product demand in cable jackets. The rising private & public investments in the construction sector focusing on the development of infrastructure projects across the globe remain critical to the product demand in construction applications. The product has a wide scope of application in the manufacture of rubber pads products due to the demand arising from the construction industry.

Major key players in the market are investing in expanding and developing chloroprene for end-use industries. For instance, in April 2021, ARLANXEO established ARLANXEO India Private Limited in India to strengthen its position in the Indian market to meet the needs of quickly expanding industries, such as pharmaceuticals, tires, automotive, and end-user products.

The demand for industrial products and chemicals in countries such as China, Japan, India, South Korea, and Thailand is expected to impact the consumption of chloroprene rubber used in these products. Many elastomer manufacturers are carrying out research and development activities to develop a vulcanization process for manufacturing chloroprene rubber to replace the existing smoked rubber suppression technique. One of the main advantages offered by the vulcanization process is the improvement in absorbent properties. This has helped position chloroprene rubber as a suitable material for manufacturing protective lining in chemical plants.

Related Press Release@ Chloroprene Rubber Market Report

Chloroprene Rubber Market Report Highlights

In terms of revenue, the automotive application segment accounted for the largest revenue share of more than 35% in 2020. It is expected to grow further at a steady CAGR over the forecast period
Asia Pacific was the largest regional market in 2020 and accounted for more than 50.0% of the global revenue share
China was the largest producer of vehicles in the Asia Pacific. Rising consumer disposable income levels in the country coupled with the high demand for EVs and luxury cars will; boost the product demand in automotive applications in China
Various strategic initiatives were recorded over the past few years to boost the growth of the market
For instance, in August 2020, Tosoh Corporation collaborated with Bando Chemicals to develop cost-reducing technology for manufacturing CNF-reinforced chloroprene rubber to be used in transmission belts in the automobile sector