Speciality & Fine Chemicals
Furandicarboxylic Acid (FDCA) Market Potential Analysis, Size and Growth to 2020
The estimated market potential for FDCA is expected to reach USD 498.2 million by 2020, according to a new study by Grand View Research, Inc. Avantium’s FDCA production facility is expected to come online by in 2016 – 17 with annual capacity reaching 50 kilo tons by 2017. FDCA is expected to have great potential as a replacement to other petroleum based chemicals such as adipic acid, terephthalic acid and bisphenol A. The addressable market for FDCA as of 2013 was in excess of 50 million tons with PET and PBT being the largest applications.
The market potential for FDCA is expected to reach 498.15 kilo tons by 2020, growing at a exponential CAGR of 367.0% from 2014 to 2020, owing to the projected commercial production of FDCA by Avantium in 2016 using bio feed stock. The market for FDCA in 2013 was 40 tons with production on order basis primarily for scientific applications.
FDCA potential application volume share, 2020
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Further Key findings from the study suggest:
- Post commercialization, PET is expected to be the largest application segment for FDCA accounting for 64% of the global market in 2020. The growing demand for packaging material coupled with the need for bio based products is expected to greatly boost the demand for FDCA.
- Polyamides are expected to be the second largest application segment in 2020 with a potential market for 80,000 tons. FDCA has the potential to replace adipic acid and its bio based alternative considering economic production by 2020.
- A limited number of companies manufactured and supplied FDCA as of 2013 and primarily for scientific purpose. Avantium is expected to begin construction of its first commercial FDCA plant with 50 kilo ton capacity in 2015 and is expected to begin production by 2017.
- Avantium has been a key participant inFDCA technology development, with partnerships and alliances with key application clients including The Coca-Cola Company, Danone, Teijin, Solvay and Rhodia.
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Biosurfactants Market Analysis, Size and Share to 2020
The global market for biosurfactants is expected to reach USD 2,308.8 million by 2020, according to a new study by Grand View Research, Inc. Escalating consumer preference towards the use of bio-based products, particularly in Europe and North America is expected to increase biosurfactant penetration. In addition, stringent regulatory policies are further expected to augment the biosurfactant demand over the next six years.
Methyl Ester Sulfonate (MES) was the largest consumed biosurfactant, accounting for 33.26% of the 344 kilo ton global market in 2013. Its superior properties in terms of foaming and stability as compared to other surfactants make it ideally suited for use in household detergents. Other key biosurfactants include Alkyl Polyglucosides (APG), Sorbitan Esters and Sucrose Esters, with combined demand estimated at 115 kilo tons in 2013.
Biosurfactants market volume share, by application, 2013
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Further key findings from the study suggest:
- The global biosurfactant market is expected to reach 462 kilo tons by 2020, growing at a CAGR of 4.3% from 2014 to 2020.
- Household detergent was the largest application segment, consuming 153.5 kilo tons of biosurfactants in 2013. Growing demand for sustainable products in cleaning applications is expected to boost the demand for biosurfactants over the forecast period.
- Personal care applications are expected to gain significant share owing to the growing market for these products in Asia Pacific. In addition, growing consumer awareness regarding benefits of bio-based personal care products is expected to have a positive influence on the market. The demand for biosurfactants in personal care is expected to reach 50.7 kilo tons by 2020, growing at a CAGR of 4.5% from 2014 to 2020.
- Europe was the largest regional market for biosurfactants, with consumption of 178.9 kilo tons in 2013. High consumer awareness and demand for bio-based products is a key reason for the high penetration of biosurfactants. Asia Pacific was a relatively small market in 2013 but is expected to gain significant share over the next six years owing to the presence of large manufacturing industries in the region.
- The global biosurfactants market is consolidated with the top five companies catering to nearly 90% of global demand. Key players in the market include BASF Cognis, Ecover, Urumqui Unite, Saraya and MG Intobio.
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Thermoplastic Polyolefins (TPO) Market Analysis, Size and Growth to 2020
The global market for thermoplastic polyolefins (TPO) is expected to reach USD 3.43 billion by 2020, according to a new study by Grand View Research, Inc. Increasing application scope in automotive and construction sectors of the emerging markets in Asia, especially China and India is expected to be a key growth factor for TPO. High capacity to demand ratio and raw material price fluctuations are expected to be key challenges for market participants.
Automotive industry is the largest TPO consumer, accounting for over 75% of total market in 2013. With further research conducted to explore its utility as feedstock and substitution, TPO market volume is expected to grow at a CAGR of 6.4% from 2014 to 2020. Robust growth is also expected for emerging applications such as packaging, construction and healthcare.
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Further key findings from the study suggest:
- The global market for TPO was 866.2 kilo tons in 2013 and is expected to reach 1334.7 kilo tons by 2020, growing at a CAGR of 6.4% from 2014 to 2020.
- Automotive was the most dominant application for TPO as the segment accounted for 75.48% of total market volume in 2013 and is estimated to grow at a CAGR of 6.6% till 2020. Other applications including packaging, construction and other niche segments accounted for a consolidated 24.52% of the market volume for the same year.
- North America and Asia Pacific have been leading in the volume consumption of TPO with shares of 37% and 35% respectively and their CAGR from 2014-2020 being 6.2% and 7% respectively.
- Key companies in the market include Arkema SA, Chemtura, Dow Chemical Company, ExxonMobil and SABIC.
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Liquid Crystal Polymer (LCP) Films And Laminates Market Analysis, Size and Share to 2024
The global liquid crystal polymer (LCP) films & laminates market expected to reach USD 166.9 million by 2024, according to a new report by Grand View Research, Inc. Growing demand for lightweight & miniaturized components on account of expanding transportation, electronics and automotive industries in emerging markets is expected to remain a crucial determinant for the global industry growth.
Rising consumer awareness regarding energy & resource savings, owing to the global energy crisis and rising pollution levels, has also fostered several innovations in the LCP field. This, in turn, has led to the introduction of ‘smart windows’ in residential & commercial buildings to control light, privacy, sound and insulation. However, these materials have been able to serve only niche applications, owing to highly specialized and expensive production processes & raw materials.
Laminates accounted for nearly 35% of the overall volume share in 2015 and are expected to gain further share as a result of its increasing demand in high-frequency electronics and printed circuit boards with a gauge of less than a millimeter.
U.S. liquid crystal polymer (LCP) films & laminates market revenue by product, 2014 – 2024 (USD Million)
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Further key findings from the report suggest:
- Global LCP films & laminates market demand was5.38 kilotons in 2015 and is expected to reach 9.34 kilotons by 2024, growing at a CAGR of 6.1% from 2016 to 2024
- Electrical & electronics has traditionally been the largest application for films & laminates alike. The segment accounted for nearly 65% of the global volume share in 2015. Films are mainly utilized in electronic applications requiring ion concentrations of less than 5 ppm. Their dielectric nature and favorable conductive properties have led to LCP substituting other polymer compounds.
- Asia Pacific was the largest consumer and accounted for nearly half of the global volume in 2015. The region is characterized by high electronics production in Korea and Southeast Asian markets.
- Automotive & medical devices collectively accounted for over 20% of the China’s film demand in 2015. A combination of various factors such as easy availability of LCP increased R&D in medical devices manufacturing, and production of premium cars are expected to drive these applications’ growth.
- South Korea and Taiwan accounted collectively accounted for one-third of the Asia Pacific market volume in 2015. These two countries are considered as electronic manufacturing hubs in the region and together consumed over 590 tons of films & laminates in electronics application.
- Major industry participants include Kuraray, PolyOne Corporation, Solvay Inc., Celanese Corporation, Toray International, Sumitomo Chemicals, Rogers Corporation among others such as Shanghai PRET Composites, Samsung Fine Chemicals, RTP Company and PolyPlastics Co. Ltd.
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Calcium Aluminosilicate Market Analysis, size and Share to 2022
Global calcium aluminosilicate market growth is expected to grow over the forecast period on account of growing food and pharmaceutical industry. Calcium aluminosilicate has tremendous potential to soak in the water component of any substance, thus, making it useful in numerous industrial applications. As a food additive, it has been assigned the code ‘E556’as it is employed as an anticaking agent in the manufacturing of chewing gum, and milk & cream powder analogues and plain. Calcium aluminosilicate assists in keeping these products smooth and avoids formation of solid blocks, caused by the presence of moisture. Apart from food and pharmaceutical, calcium aluminosilicate is also used in cosmetics and the fertilizers industry, Hence, the demand for calcium aluminosilicate is expected to be fueled by growing food, food preservative, cosmetics and pharmaceutical industry, over the next seven years. Pharmaceutical is the second most important application industry of calcium aluminosilicate, on account of its essential use in treating diarrhea and related diseases, whereby it helps in the absorption of the liquid content from the stomach, to minimize bowel movements. It is applicable in both allopathic and veterinarian medicines, as it can be consumed by both humans and pets.
Calcium aluminosilicate is glassy in nature and is a manmade mineral, having chemical formula CaAl2Si2O8.It bears a claylike appearance and has strong absorption potential, therefore is employed in many industries and products. However, the product exhibits a wide range of side effects when consumed excessively or continuously.
Furthermore, overconsumption of calcium aluminosilicate may also lead to iron deficiency in the body, caused by absorption effect on the blood; and evident hypertension symptoms, on account of its psychological effect, on excessive intake. Calcium aluminosilicates are toxic in nature, on interaction with the genitourinary system in large proportions, may have serious effects on the consumer.
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The calcium aluminosilicate market, in terms of geography, can be segmented into North America, Latin America, Europe, the Middle East, Africa and Asia Pacific. Over the last few years, Europe accounted for the largest market share in the calcium aluminosilicate market, where it is primarily employed in food industry, followed by the pharmaceutical industry. Growth in the food industry in Europe particularly in France, Poland, Germany and Italy is likely to boost calcium aluminosilicate market over the projected period. Furthermore, growing use of calcium aluminosilicate in the cosmetic industry is likely to propel its demand over the next seven years. In North America, U.S. owns the largest share in the calcium aluminosilicate market. The U.S. calcium aluminosilicate market has been growing over the past few years, owing to booming pharmaceutical industry, coupled with substantial increase in the food, cosmetics and fertilizers industry. In Asia Pacific, China and India are the biggest contributors, on account of growing population which in turn has led to rising food needs among consumers. This is anticipated to boost the calcium aluminosilicate market as it is employed as a food additive. In Latin America, the biggest contributor is Brazil, on account of rising standard of living. Increasing awareness toward high quality of products coupled with growing disposable income of the middle class is likely to propel calcium aluminosilicate market over the projected period. Over the forecast period, Asia Pacific is likely to be the fastest growing regional market for calcium aluminosilicate on account of developing economies including India, China and Indonesia. But, Europe and North America are expected to maintain their market share dominance in light of substantial growth in end-use industries of calcium aluminosilicate.
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Flame Resistant Fabric Market Analysis, Size and Growth to 2022
Global flame resistant fabric market is expected to grow over the forecast period on account of increasing demand from chemical and oil & gas industries. Chemical and oil & gas industries extensively use flame resistant fabric for safety of workers owing to high accident risk in such industries. Flame resistant fabrics are basically textiles that are more fire retardant than other fabrics owing to its chemical treatment or exclusively manufactured fireproof fabrics. Increasing flame resistant fabric demand for stage drapery used in public spaces such as theatre, school and other special events is anticipated to be a key factor driving the global flame resistant fabric market over the forecast period. Polyester is the most commonly used fame resistant curtain fabric. Availability of various fabric-fire treatments such as CRIB-5 and BS-476 is expected to have a positive impact on flame resistant fabrics market. Moreover, fire resistant fabric utility in fire fighting uniform and work wear for minimizing fire hazards is projected to further complement its global demand.
Major flame resistant fabric applications include public safety & defense services, industrial protective clothing and transport. Transport application segment can be further divided into automotive, aircraft, railways and marine. Transportation industry is anticipated to expand the global flame resistant fabric market over the forecast period on account of increasing high performance fabrics demand in railways, automobiles and aircraft. Fire fighting fabrics demand in defense and public safety services is expected to grow at an average rate owing to low revenue levels in these sectors. Additionally, rising flame resistant fabrics utilization in home & industrial furnishings and law enforcement services is further anticipated to drive its global demand in the upcoming years. High flame resistant fabrics cost coupled with lack of awareness can be a factor restraining flame resistant fabrics market growth over the forecast period.
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North America and Europe are expected to be regional leaders in flame resistant fabric market over the forecast period on account of increasing safety regulations in these regions. Asia Pacific flame resistant fabric market is anticipated to witness substantial growth owing to increasing demand from diverse end use industries such as chemicals and oil & gas. Furthermore, increasing flame resistant fabric demand in transportation industry particularly in emerging economies such as India and China is further predicted to foster Asia Pacific market over the forecast period. Middle East and Africa are expected to grow at a rapid rate owing to rising flame resistant fabric utilization in various sectors.
Global flame resistant fabric market is fragmented with major players competing for leadership position through efficient strategies such as R&D, cost effective product development, distribution agreements and integration through effective supply chain management. DuPont has adopted an innovative strategy to develop inherently flame resistant fibers, under the brand namesNomex and Keviar. Key players operating in flame resistant fabrics market includes DuPont, PBI Performance Products, Royal Tencate Corporate EMEA, Milliken & Company, Lenzing AG, Huntsman Corporation, Teijin Aramid, Gun Ei Chemical Industry Co. Ltd. and Solvay SA.
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Curcumin Market Analysis, Size and Share to 2022
Global Curcumin market is expected to reach USD 94.3 million by 2022, according to a new study by Grand View Research, Inc. Therapeutic properties of curcumin such as anti-inflammatory and anti-oxidant make them ideally suited for use in food and medical application. The market is expected to witness significant growth in light of the growing consumer awareness regarding the above mentioned therapeutic properties. Increasing demand for herbal and ayurvedic skin care products is also expected to boost demand for curcumin over the forecast period. Curcumin or turmeric extracts are also gaining importance owing to the lower bioavailability of raw turmeric which is mostly consumed in food products.
Pharmaceutical was the largest application segment accounting for over 50% of the global volume owing to an increasing demand for curcumin based OTC supplements. Curcumin demand in food application also increased in 2014 in terms of absolute volumes on account of growing demand for natural coloring and flavoring substances. Similar trends are expected to continue over the forecast period. Growing penetration of herbal skin care products is expected to further augment curcumin market growth. R&D in dye-sensitized PV technology is expected to open new market avenues for curcumin.
Global curcumin market, by application, 2012 – 2022 (Tons)
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Further key findings from the study suggest:
- North America was the largest regional market for curcumin with market revenue exceeding USD 20 million in 2014. Curcumin is an established ingredient for pharmaceutical application in the region which is expected to act as a major driver for market growth. In addition, growing use of turmeric extract or curcumin in cosmetic formulation is expected to further augment market demand over the forecast period.
- Curcumin production is highly dependent on turmeric production which is regional dominated by India. India is the largest manufacturer of curcumin with production exceeding 80% of global market. Low consumer awareness of curcumin as a health ingredient in India results in the country exporting majority of its product to North America and Europe.
- Europe is expected to be the fastest growing regional market for curcumin with demand estimated to grow at a CAGR of over 17% from 2015 to 2022. Regulatory support coupled with growing consumer awareness is expected to be a key factor responsible for high market growth in the region. European Food Safety Association (EFSA) has approved ADI of 3 mg/kg of body weight for curcumin making it a preferred pharmaceutical ingredient in turn resulting in increased market demand.
- Key players present in the global curcumin market include Arjuna Natural Extracts Ltd, Synthite Industries Ltd, Sabinsa Corporation and Helmigs Prima Sejahtera PT. Arjuna Natural Extract ltd has a patent for curcumin formulation from turmeric which signified the extensive R&D in the market.
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Dimer Acid Market Analysis, Size and share to 2024
The global dimer acid market is expected to reach USD 2.30 billion by 2024, according to a new report by Grand View Research, Inc. Growing consumption of polyamide resins in marine coatings is a major growth driving factor over the forecast period. Increasing oilfield chemicals demand which uses dimer acid as feedstock owing to rising drilling activities to meet excess energy demand is also expected to drive the demand growth.
Asia Pacific and Latin America are expected to witness brisk growth owing to increasing construction activities in the regions. Emerging economies such as China and India along with Southeast Asia have been witnessing significant construction spending due to urbanization and industrial growth.
The industry faces challenges in terms of raw material availability. The fatty acid production which is largely done through vegetable oils has been facing high demand from food & biofuels industries, therefore tightening its supply for production of dimer acid.
Another challenge market participants face is the low biodegradation rate of products made of these acids. Considering increasing importance for recyclability of materials, development of novel technologies to tackle the issue is crucial for development prospects.
Reactive polyamide resins segment was the dominant application accounted for over 40% of the overall volume in 2015. High demand for epoxy, marine and flooring coatings to drive the segment growth at a CAGR of 4.3% from 2016 to 2024.
U.S. dimer acid market revenue by application, 2014-2024, (USD Million)
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Further key findings from the report suggest:
- Global dimer acid market demand was 467.4 kilo tons in 2015 and is expected to reach 671.7 kilo tons by 2024, growing at a CAGR of 4.0% from 2015 to 2024
- The nonreactive polyamide resin is expected to exhibit considerable growth accounting for over 40% of total market volume by 2024. The increasing use of nonreactive polyamide resins, which are based on dimers, for printing inks and paper coatings, is anticipated to boost application segment growth over the forecast period.
- Asia Pacific was the dominant regional market with demand share exceeding 38% in 2015. Economic growth coupled with increasing migration has resulted in increasing sustainable infrastructure needs thereby facilitating demand for dimer acid based reactive polyamide resins. Increasing compliance of producers with stringent EU regulations to positively impact demand in the Eurpoen market
- Some of the key players operating in global dimer acid market include BASF, Arizona Chemicals, Emery Oleochemicals, Aturex Group, Croda International, Anqing Hongyu Chemicals Co. Ltd., Florachem Corp., Nissan Chemical America Corp., Novepha Co. Ltd., Harima Chemicals and Oleon N.V.
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Bioplastic Packaging Market Analysis, Size and Share to 2022
Global bioplastic packaging market is expected to foresee growth in light of increasing social awareness towards eco-friendly products. Shifting consumer preference from synthetic based products to bio-based substitutes owing to increasing awareness for reducing green house emissions is likely to augment the market growth. Chemical manufacturers have increased expenditure on the development of bio-based chemicals is expected to ensure raw material access for bioplastic packaging manufacturers. Packaging industry growth in India, China and Middle East on account of positive outlook on automotive, consumer goods and food & beverage industries is expected to be a favorable factor for market over the forecast period.
Europe is expected to be promising market for bioplastic packaging on account of supportive government policies for implementing bio-economy at domestic level. European Commission framed Europe 2020 Strategy, intended for reduction of greenhouse gas emissions by 20%, increasing energy derived from renewable source by 20% and energy efficiency by 20%. This strategy is aimed for promoting the procurement of bio-based products and tax redemption for member states on consumption of bio-based products.
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Asia Pacific is anticipated to be potential market for bioplastic packaging in near future on account of growing packaging industry in countries of India and China along with increasing inclination of domestic government towards natural products. In 2008, the government of China promulgated and implemented a policy to ban plastic bags with a prime focus on bioplastic products for packaging. This policy is aimed at encouraging manufacturers to set up bioplastic factories through ease in availability of raw materials and tax redemption and thus likely to open new market avenues. Abundance availability for raw materials such as sugarcane and oil seeds in Brazil is expected to force chemical manufacturers to establish their production facility in the vicinity.
Key market players include Amcor Limited, Plastipak Holdings, Inc., FKuR Kunststoff GmbH, Tetra Pak, Rexam Plc., Innovia Films, Mitsubishi Plastics, Inc., NatureWorks LLC and AEP Industries Inc. In June 2014, Avantium a Dutch based company raised USD 50 million investments from a consortium of strategic partners including the Coca-Cola Company, ALPLA, Swire Pacific and DANONE aimed at developing and commercializing the alternative to PET for packaging applications.
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Salicylic Acid Market Analysis, Size and Share to 2024
The global salicylic acid market is expected to reach USD 547.5 million by 2024, according to a new report by Grand View Research, Inc. The market is expected to exhibit significant growth owing to increasing use of the product in the pharmaceutical industry for treatment of various skin disorders such as psoriasis, acne, and blemishes. In addition, the product is used as an ingredient during the preparation of aspirin. salicylic acid acts as an anti-inflammatory agent thus promoting its use as an ingredient in aspirin preparations.
The increasing use of derivatives of salicylic acid such as methyl salicylate and chlorine salicylate as a liniment for joint and muscle pain and for relieving pain caused by mouth ulcers is expected to drive the market growth over the forecast period.
However, growing awareness regarding the harmful effects of excessive consumption of the compound has led the regulatory bodies such as the Food and Drug Administration (FDA) to enforce stringent regulations regarding the maximum permissible limit for salicylic acid in various products, thus limiting its growth over the next eight years.
The global salicylic market is characterized by a small number of manufacturers. Some companies including Novacap, Simco, and Loveridge are forward integrated into their operations and are engaged in the production of phenol, which is an important raw material used for manufacturing of the product. Other companies procure phenol from manufacturers such as Shell and INEOS Phenol.
U.S. salicylic acid market revenue, by application, 2013 – 2024 (USD Million)
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Further key findings from the report suggest:
- The cosmetics application segment of salicylic acid is expected to grow at a CAGR of over 7.0% from 2016 to 2024. Increasing demand for cosmetic products across Europe, North America and Asia Pacific coupled with increasing self-prescription of these products for the treatment of mild skin disorders is expected to augment growth over the forecast period.
- Salicylic acid demand in food & preservative application was valued at over USD 90.0 million in 2015. The product is extensively used in manufacturing other salicylates including methyl and ethyl salicylates. Rising demand for food preservatives on account of growing demand for processing foods in emerging markets of China and India is expected to augment food preservatives market, which in turn is likely to augment growth over the forecast period.
- Asia Pacific is expected to witness the highest growth as compared to other regions, growing at over 9.0% from 2016 to 2024 Positive food and pharmaceutical industry outlook in China, India, Japan and South Korea is expected to augment demand over the projected period.
- In North America, the U.S. accounted for the consumption of more than 16,000 tons of salicylic acid in 2015 owing to shelf-life extension solutions in food and beverages applications. Furthermore, increasing use of preservatives by major food and beverage manufacturers including Cargill Foods, Tyson and Heinz located in the U.S. is expected to augment the demand over the forecast period.
- Key players in the industry include Alfa Aesar, Alta Laboratories, JM Loveridge Limited, Novocap, Siddharth Carbochem Products Ltd., Simco Chemicals, and Zhenjiang Gaopeng Pharmaceutical Co. Ltd.
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Grand View Research, Inc. 