Wednesday, 13 September 2017

Increasing Demand from chemical industry drives the Citric Acid Market

The global citric acid market is expected to reach USD 5.73 billion by 2024 driven by its increasing use in food & beverages and household detergents & cleaners. The growth of these end-use industries, particularly in emerging economies of Asia Pacific region, is anticipated to boost the growth of the chemical over the projected period.
The biobased and cheating characteristics of citric acid make it a viable solution to several toxic substances used for manufacturing detergents & cleaners, especially for household purposes. Rising awareness regarding cleanliness and hygiene is expected to augment the demand for detergents & cleaners, resulting in a volume CAGR of 3.8% over the projected period. Asia Pacific dominated the global industry accounting for 29.6% of the global citric acid market volume share in 2016.
Rapid industrialization resulting in the presence of large-scale manufacturing bases for food & beverages, pharmaceuticals, and cosmetics is expected to augment the demand for the chemical as an intermediate in several processes.
Increasing healthcare expenditure coupled with rising number of ailments across the world is expected to augment the demand for pharmaceuticals. The demand for citric acid in pharmaceutical applications was estimated to be 153.1 kilo tons in 2016 and is projected to progress in tandem with the development of the pharmaceutical sector.


The difference in the properties of citric acid has resulted in making it suitable for use across a broad range of applications. The dual use of citric acid as a preservative as well as a flavoring agent in foodstuffs is expected to augment its demand for household purposes. Moreover, its suitability for a broad range of cuisines makes its suitable for restaurants. Increasing standard of living of consumers is expected to augment the demand for the product over the projected period.
In line with the growing demand for the chemical, manufacturers such as Jungbunzlauer, ADM, and Cargill are focusing on increasing their market presence through R&D to introduce innovative products catering to niche application segments. Thus, the growth of the food & beverages, pharmaceutical, and cosmetic industries coupled with the eco-friendly properties of the product is expected to drive the growth of the citric acid market over the forecast period.
Hexa Research has segmented the global citric acid market on the basis of application and region:
Segmentation by application, 2014 - 2024 (Kilo Tons) (USD Million)
• Food & beverages
• Household detergents & cleaners
• Pharmaceutical
• Cosmetics 
• Others 
Segmentation by region, 2014 - 2024 (Kilo Tons) (USD Million)
• North America
• Europe
• Asia Pacific
• Central and South America
• MEA
Key players analyzed
• Archer Daniel Midland
• Cargill
• COFCO Biochemical (Anhui)
• Gadot Biochemical Industries
• Jungbunzlauer Suisse

Tuesday, 11 July 2017

Cellulose Acetate Butyrate Market Size, Share | Industry Report, 2024

The global cellulose acetate butyrate market is anticipated to reach USD 997.8 million by 2025, driven by the growing consumer demand for paints & coatings, lacquers, and printing inks. Increasing construction activities and growing automobile production are expected to bolster the growth of the market further.
Cellulose Acetate Butyrate Market 

Paints & coatings made with cellulose acetate butyrate are used in various applications including automotive plastics, leather, plastic, wood, aviation, medical & healthcare, and architecture. The global CAB market for paints & coatings market is expected to reach USD 532 million by 2025.
Access full report at https://www.hexaresearch.com/research-report/cellulose-acetate-butyrate-cab-market 
Increasing infrastructure spending coupled with increasing automobile production in Asia Pacific is projected to drive the demand for paints & coatings, which in turn is expected to influence the demand for CAB positively. The market is anticipated to grow at a volume CAGR of 3.8% over the next eight years.
Printing inks are expected to be another lucrative segment for the CAB market, with the introduction and implementation of mandatory labeling regulations by various regulatory authorities including FDA. Reducing the weight of a packaging coupled with stringent regulations to print all the information regarding the packed product is expected to augment the demand for printing inks that are not affected by external environment conditions. The segment is expected to grow at a volume CAGR of 3.2% over the projected period.
Cellulose Acetate Butyrate Versatile Application 

Some of the key players in the market with a global presence include Eastman, Mitsubishi Rayon and Diacel and Celanese. Other vendors in the market include Xiamen Hisunny Chemical Co., Ltd., Chemos GmbH & Co. KG, Haihang Industry Corporation, and Simagchem Corporation. With the relative growth in demand from the end-use markets such as paints and coatings, lacquers, and printing inks, the market is expected to witness an upward move over the forecast period. 
Technology advancement along with expansion in capacity and development in R&D facility is expected to be a key trend in the CAB market over the coming years. Companies are focusing on developing the product with properties such as increased hardness, durability, low moisture absorption and high impact strength. Product innovation is anticipated to result in increasing the application scope of the product, thereby, propelling its growth over the next few years.

Thursday, 6 July 2017

Titanium Dioxide (TiO2) Market Size, Share | Industry Report, 2024

The global titanium dioxide market is expected to reach USD 27.49 billion by 2024 owing to the increasing demand of titanium dioxide in paper, paint & coating, cosmetics, and plastic industries. In 2014, DuPont Titanium Technologies started a manufacturing facility in Alamira, Mexico having a capacity of 200,000 tons/year which will help in fulfilling the demand worldwide.




Rising demand for lightweight automobiles is expected to play a vital role in the growth of global titanium dioxide market. Materials such as polycarbonates are used in the manufacturing of lightweight automotive which have low scratch resistance value. Also, the product is used in various industries such as chemical intermediates, fiber, technical titanium, inks for printer and rubber.
Keeping these driving factors in mind, companies are ramping up their production capacity. In 2015, PPG International entered into a partnership agreement with Henan Billions Chemicals Co. LTD. to set up a new manufacturing unit for titanium dioxide which is expected to produce 100,000 metric tons per year to expand its footprint in Asia Pacific. Companies such as Argex Titanium are using unique patented CTL process which involves low-cost feedstock material and solvent extraction method to produce a high-quality product.

Also, companies are focusing on increasing the applications of titanium dioxide int water treatment using techniques such as photocatalysis, in which titanium dioxide is used to speed up the solar disinfection process.
In 2016, paint & coating segment contributed 57.4% in terms of revenue. It was also extensively used in the plastics industry, paper industry, inks, and other specialty segments. The growth of these sectors is expected to boost the market positively over the next few years.
The plastic industry was the second largest segment due to the increasing applications as an excellent thermal stabilizer. In 2016 plastics segment contributed 23.2% in terms of revenue and is expected to grow with a positive CAGR during the forecast period.
Paper industry is the third largest user of titanium dioxide and contributed 10.4% in terms of revenue globally. Titanium dioxide is used in the manufacturing of decorative papers, these are used in the manufacturing of flooring, furniture, and wallpapers. Demand for high-end furniture is increasing which is expected to boost the demand for titanium dioxide. The paper industry is expected to contribute about 10.4% during the forecast period.
The global titanium dioxide market is expected to grow at a very lucrative rate due to its use in various above-mentioned industries. Also, titanium dioxide is used as a substitute for talc and kaolin which in turn is expected to boost the market for titanium dioxide.





Visceral Pain Market Size and Forecast, By Therapeutics And Trend Analysis, 2014 - 2024

The global visceral pain market is expected to reach USD 14.22 billion by 2024, driven by the increasing geriatric population globally. Increasing prevalence of visceral pain and rising awareness regarding the same is projected to drive market growth over the forecast period.


In 2016, North America held the majority of share in global visceral pain market owing to the increasing healthcare expenditure. Additionally, the high prevalence of Crohn’s and irritable bowel is expected to propel the growth of the market over the projected period.
Asia Pacific is expected to be the fastest growing region with the CAGR of 6.2%. The increase in the healthcare infrastructure and presence of a large pool of patients is projected to drive the demand for the visceral pain industry during the forecast period.
Analgesic segment dominated the market for the visceral pain with the market share of 60.4%. The major share of the analgesic segment is attributed to the increasing penetration of generic drug. Furthermore, rising healthcare expenditure and an increasing use of opioids for the chronic pain are the key factors attributing to its share.
In 2016, Crohn’s disease was the largest indication segment for the visceral pain market contributing to 41.4% of the market share. Increasing occurrences of Crohn’s disease across the globe coupled with the growing drug therapies for the treatment of the disease are the key factors attributing to the major share. Furthermore, increasing awareness about Crohn’s disease is fueling the demand for treatment therapies.
Access full report on Visceral Pain Market https://www.hexaresearch.com/research-report/visceral-pain-market 
Key market players include Pfizer, Johnson & Johnson, Abbvie, Takeda, Allergan, and AstraZeneca. These companies are focusing on R&D for visceral pain therapeutics. These companies are likely to cater their products to patients affected by visceral pain. The growth of the geriatric population is expected to help in augmenting the profits of these companies over the next few years.
Growing focus on research and development by pharmaceutical companies and government initiatives are expected to boost the visceral pain industry during the forecast period. The market is projected to witness significant gain during the forecast period owing to increasing collaboration within pharmaceutical companies. Also, factors such as increasing awareness among people regarding visceral pain are further anticipated to propel the market growth.

Thursday, 29 June 2017

Global Acetone Market Size Expected To Reach $22.10 Billion By 2024 | Hexa Research

The global acetone market size was USD 5.75 billion in 2016. Acetone is used as a solvent in adhesives, nail polish remover, paints & coatings, and other skin care products. It is also used in the manufacturing of Methyl Methacrylate & Bisphenol-A.
Polycarbonate plastic is derived from Bisphenol-A. An increasing use of polycarbonate in the automotive industry is one of the key growth factors for the acetone market. Polycarbonate is increasingly used as a substitute for metal and glass in the automotive industry.
Automotive manufacturers are increasingly using polycarbonate for lighting applications, such as light housing, headlamp lenses, bezels that require transparency, high-temperature resistance, it also offers better functional integration and designing freedom to vendors. An increasing demand for light vehicles with improved fuel efficiency is driving the manufacturers to depend on polycarbonate that helps to reduce the weight of the vehicles.
Access full report or request for free sample at https://www.hexaresearch.com/research-report/acetone-market
Increasing demand of methyl methacrylate to produce polymethyl methacrylate resins used in electronics and the automotive industry is a key factor for the growth of the acetone market. Keeping these driving factors in mind companies are increasing their production capacity in order to meet the global demand. For instance, Vadodara-based chemical manufacturer Deepak Nitrite Limited is expected to invest INR 1,200 crores in setting up a phenol and acetone plant at Dahej in Bharuch district of Gujarat to cater the increasing demand for acetone in the region.
In 2016, Asia Pacific was the largest revenue generating owing to the development of automotive and electronics industries. Furthermore, growing pharmaceutical sector in China and India is expected to propel the demand for acetone. An increasing demand for bio-based acetone and strict government regulations is expected to slow the market growth of acetone.  Moreover, contact with acetone is dangerous for health and can cause intoxication, dizziness, nausea, unconsciousness which in turn may hamper the market growth.

Monday, 19 June 2017

Bioplastics Market By Types, Application & Forecast 2024 | Hexa Research



The global bioplastic packaging market to reach USD 34.24 billion by 2024, driven by the rising consumer demand for resource efficient and eco-friendly products. Europe was the largest market accounting for 32.7% of the volume share in 2016 due to supporting regulations coupled with consumer awareness regarding the conservation of the environment. North America and Asia-Pacific followed suit, where the regions together are expected to contribute USD 3.26 billion by 2024.
Keeping these driving factors in mind, companies are ramping up their production capacity as well as foraying into R&D of application of new biopolymers into mainstream applications. For instance, in October 2016, BASF and Avantium entered into a joint venture to form Synvina JV, which will manufacture and market FDCA and PEF. Synvina JV has a production capacity of 50,000 metric tons per year for FDCA and PEF.
Moreover, companies are focusing on R&D to expand the utilization of different raw materials such as PBS, PLA, and PBAT in various mainstream packaging applications. For instance, in April 2017, UK-based Biome Bioplastics developed a fully compostable and recyclable coffee cup made entirely from bioplastic materials. These factors together are expected to provide an impetus to the growth of the bioplastic packaging market over the next seven years.
Access full report or request for free sample at: https://www.hexaresearch.com/research-report/bioplastic-packaging-market 
PET dominated the global market contributing to USD 1.84 billion in 2016. The polymer was extensively used in rigid packaging on account of its high durability, transparency, and ease of moldability. Initiatives undertaken by companies such as Coca-Cola, P&G, and Heinz to use bio-based materials for packing beverages, sauces & spreads and cosmetics is expected to bolster the growth of the rigid packaging market.
Increasing demand for flexible packaging solutions on account of several benefits including size and weight particularly in food applications coupled with rising demand for biodegradable films is anticipated to boost the growth of the market. The segment is expected to grow at a volume CAGR of 20.6% from 2017 to 2024.
Food packaging accounted for 9% of the overall market share in 2016 and is likely to witness above average growth as a result of rising consumer requirement for eco-friendly packaging. Aesthetic attributes such as transparency, size, weight, and presentation are expected to drive the growth of the segment over the projected period.
The growth of the global bioplastic packaging industry driven primarily by consumer demand is also likely to be favored by the implementation of stringent regulations for its synthetic counterparts. Despite the fall in crude oil prices, companies such as BASF, Arkema Dow, Solvay, and Braskem are continuing production at their facilities and focusing on R&D. These factors are likely to result in a tremendous growth of the global bioplastic packaging market growing at a revenue CAGR of 28.3% over the next seven years.


Monday, 12 June 2017

Global Automotive Collision Repair Market worth USD 206.46 Billion By 2025 | Hexa Research

The global automotive collision repair market to reach USD 206.46 billion by 2025, driven by a surge in automobile production, digitalization of automobile repair services and advances in manufacturing technology such as 3D printing of automotive parts to optimize costs. Europe was the largest market accounting for 44.9% of the revenue share in 2016. However, it is expected to lose its share over the forecast period on account of increase in trade barriers created by Brexit.

The increase in demand for vehicles driven by improvement in lifestyle in developing countries such as India and Brazil is expected to drive the growth of the market. Asia Pacific is anticipated to witness the fastest growth over the forecast period at a CAGR of 3.7% on account of increase in production and sale of automobiles and rising living standard. The increase in the number of vehicles on the road in countries such as China and India is expected to drive growth.
The automobile industry is expected to grow on account of increasing demand for passenger cars. Increasing number of accidents due to the lack of proper infrastructure is projected to drive the demand for spare parts and other special tools. The collision repair market is expected to grow at a CAGR of 2.5% from 2017 to 2025. The requirement of quick turnaround time for replacement of parts is likely to be an opportunity for growth of the market.
Companies are investing extensively in R&D to enhance technology. For instance, in July 2016, BASF announced plans to step up its R&D activities for automotive coatings to a new world-class platform at the BASF Innovation Campus Asia Pacific in Shanghai, China.
In addition to this companies are adopting the strategy of merger & acquisition. In February 2016, 3M Automotive Aftermarket Division collaborated with the German-based Tool Technic Systems AG & Co. KG to provide the collision repair industry a comprehensive surface preparation and finishing system. The new system is expected to launch in US and Canada impacting the growth of the market in North America. 
In September 2016, BASF acquired Guangdong Yinfan Chemistry, China. This acquisition resulted in an addition of Yinfan’s products to BASF’s portfolio and enabled BASF to expand its portfolio in Asia Pacific.
Discover key insight on Automotive Collision Repair Industry - https://www.hexaresearch.com/research-report/automotive-collision-repair-industry