Can Coatings Market With Current And Future Growth Analysis By Forecast From 2022 To 2026

The global can coatings market size is projected to reach USD 2.65 billion by the end of 2026. The increasing demand for the product across numerous industries will create several growth opportunities. According to a report published by Fortune Business Insights, titled “Can Coatings Market Size, Share & Industry Analysis, By Type (Epoxy, Acrylic, and Others), By Application (Food Cans, Beverage Cans, Aerosol Cans, and Others) and Regional Forecast, 2019-2026,” the market was worth USD 1.97 billion in 2018 and will exhibit a CAGR of 3.8% during the forecast period, 2019-2026.

The recent coronavirus outbreak has had an adverse impact on several businesses across the world. Due to the severity of the disease, governments across the world are taking strict measures to curb the spread of the disease. Due to the rapid spread of the disease, several businesses have been shut down. The shut downs in retail stores and commercial chains has affected the growth of the market in 2020.

The report will include the impact of the Covid-19 pandemic on the global. It will also include the strategies that major companies are adopting to overcome the downfalls during this pandemic.

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List of key companies profiled in the Can Coatings Market Research Report are:

•        BALL CORPORATION

•        Kupsa Coatings

•        Kansai Nerolac Paints Ltd.

•        The Sherwin-Williams Company

•        PPG Industries, Inc.

•        TOYOCHEM CO., LTD.

•        VPL Coatings GmbH & Co KG

•        National Paints Factories Co. Ltd.

•        IPC GmbH & Co. KG

•        Axalta Coating Systems

•        CSC BRANDS, L.P.

Can coatings are used to prevent the reaction of foods inside the cans. It is mostly made of organic substances and allows storage of foods for a longer duration. Can coatings are widely used to increase the overall shelf life of the food products that are being sold in commercial stores as well as indoors. The increasing demand for canned foods and presence of several retail stores and stores across the world will have a huge impact on the growth of the overall market in the coming years. The growing demand for canned foods, driven by the adoption of fast paced lifestyle will bode well for the growth of the overall can coatings market in the forthcoming years. The availability of raw materials used for producing can coatings will emerge in favor of market growth.

 

Increasing Efforts taken to Integrate Non-harmful Substances Will Create Several Growth Opportunities

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, growing efforts taken to integrate organic substances in can coatings by major companies across the world will have a huge impact on the growth of the market in the coming years. Accounting to the huge demand for organic products, several companies are putting in more efforts to maximize the use of substances that will have the least impact on the stored foods. In March 2016, Campbell Soup Company announced that it has taken the decision to shift to cans that do not involve the use of Bisphenol A linings. The company announced that it will be using cans with acrylic or polyester linings. The company will look to sell across the United States as well as Canada. Campbell Soup’s latest activity will have a direct impact on the growth of the overall market in the foreseeable future.

 

North America to Emerge Dominant; Increasing Adoption of Metal Cans Will Aid Growth

The report analyzes ongoing market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to emerge dominant in the coming years. The increasing use of metal cans by major companies across the region will emerge in favor of market growth. The high investment in the development of efficient products by major companies will bode well for the growth of the market in this region. As of 2018, the market in 2018 was worth USD 675.5 million and this value is projected to increase further in the coming years. Besides North America, the market in Europe will witness considerable growth rate in the coming years driven by the increasing demand for the product in the food and beverages and personal care industries.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Emerging Trends in Global Market
  • Latest Technological Advancements
  • Insights on Regulatory Scenario
  • Porters Five Forces Analysis
  • Key developments: Acquisition, Collaboration, New Product Launch and Joint Venture
• Can Coatings Market Analysis, Insights and Forecast – By Material
  • Key Findings
  • Market Analysis, Insights and Forecast – By Material
    • Epoxy
    • Acrylic
    • Others
• Can Coatings Market Analysis, Insights and Forecast – By Application
  • Key Findings
  • Market Analysis, Insights and Forecast – By Application
    • Food Can
    • Beverage Can
    • Aerosol Can
    • Others
• Can Coatings Market Analysis, Insights and Forecast – By Region
  • Key Findings
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

TOC Continued…!!!

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Paints and Coatings Market Share, Size, Expected Growth Opportunities and Forecast by 2027 | Know the Russia Ukraine Impact On Paints and Coatings Industry in US

The global paints and coatings market size is projected to reach USD 217.66 billion by 2028, exhibiting a CAGR of 5.4% during the forecast period. The development of environment-friendly coatings by companies is expected to bring new dimensions of growth in the market, observes Fortune Business Insights™ in its report, titled “Paints and coatings Market, 2021-2028.” the market size stood at USD 145.15 billion in 2020.

As they dry up, paints and coatings release toxic substances known as Volatile Organic Compounds (VOCs). Moreover, VOCs cause significant harm to the environment, contributing to smog formation and Ozone Layer depletion. Many leading companies in the coatings and paints industry are developing and launching eco-friendly products to address these issues. For example, in July 2020, Stepan Company launched the STEPANPOL® PC-6000 series, its next-gen polyester polyols designed to reduce VOC content in polyurethane coatings. Similarly, allnex China released its new acrylic dispersions in July 2020, which can create coatings with zero VOC content. These innovations are leading the trends in this market and fueling its growth.

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Russia-Ukraine War Implication

The Russia-Ukraine war could change the Paints and Coatings Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Paints and Coatings Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.

Market Segments:

Waterborne Coatings to Account for Maximum Share

Based on resins, the market is divided into epoxy, acrylic, polyester, alkyd, PU, and others. Acrylic resin is expected to hold the largest share due to its drying rate, adhesion, flexibility, and relative resistance properties.

Based on technology, the market is classified into waterborne, solvent-borne, powder coating, and others. Waterborne coatings are expected to account for a significant share during the forecast period due to its increased usage in automobiles, furniture, plastic, wood, and printing inks industries.

Based on application, the market is categorized into architectural, automotive OEM, marine, coil, general industries, protective coatings, automotive refinish, industrial wood, and others.

Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The Report Encompasses?

• Quantitative and qualitative insights into the market size, share, and revenue;
• Actionable research into the major drivers and restraints of the market;
• In-depth analysis of all market segments; and
• Careful evaluation of the regional and competitive dynamics shaping the market.

Driving Factor:

Increasing Adoption of Ceramic Coating for Vehicles to Aid Growth

The paints and coatings market growth is increasingly influenced by the rising preference for ceramic coating solutions over conventional wax or paint in the automotive industry. This changing preference is attributable to the wide array of benefits offered by ceramic coatings. For example, ceramic coatings have hydrophobic properties, which ensure that substances such as bird droppings or snow do not stick to the exterior of the vehicle. Harder coatings such as those made from quartz even protect the vehicle from scratches and debris, preserving its fresh appearance even after years of use. Furthermore, ceramic coatings are highly cost-effective compared to wax, as the latter does not last more than three months and needs to be reapplied regularly. Ceramic car protection is more long-lasting and durable, and with proper maintenance, it can serve for years before needing reapplication. Thus, the emergence of ceramic coating solutions for automobiles is propelling the demand for advanced paints & coatings.

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Regional Insights

Promising Progress in the Construction Industry in Asia Pacific to Animate Market Spirits

Asia Pacific is expected to lead the paints and coatings market share in the forecast period because of surging growth in construction activities in Asia Pacific. Driven by rapid urbanization and industrialization in India and China, the demand for paints and coatings is escalating in the Asia Pacific region, creating lucrative business opportunities for market players. In 2020, the region’s market size accounted for the highest share.

North America holds a prominent position in the global market owing to the increasing application of coatings and paints in the refurbishment and remodeling of outdated infrastructures in the region. The market in Latin America is also expected to make substantial gains in the coming years owing to massive infrastructure development projects planned in Peru, Colombia, and Brazil.

Industry Developments:

Engineering Sustainable Coatings to be the Key Focus Area for Market Players

Capitalizing on the sustainability trend currently dominating the paints and coatings industry, many players in this market are investing in R&D to build their portfolio of sustainable coatings. Additionally, some companies are strategically acquiring regional players to expand their presence in burgeoning markets.

Industry Developments:

• August 2020: PPG Industries and Sibi, a supply chain platform, entered into a 4-year-long agreement with Tricon American Homes (TAH) to deliver PPG’s paint solutions. The deal entails TAH utilizing PPG’s low VOC-emitting paint products for its 21,000 single-family and 7,000 multi-family rental properties across the US.
• October 2019: Berger Paints India announced the acquisition of STP Ltd, a construction materials maker based in Kolkata, for an estimated value of INR 167.5crore. The takeover will allow Berger to strengthen its distribution, procurement, and manufacturing of paints and coatings in the flourishing Indian construction industry.

List of Key Players Covered in the Global Market:

• Dunn-Edwards Corporation (U.S.)
• TIKKURILA OYJ (Finland)
• Nippon Paint Holdings Co., Ltd. (Japan)
• The Sherwin-Williams Company (U.S.)
• Kansai Nerolac Paints Limited (India)
• AkzoNobel (Netherlands)
• Axalta Coating Systems (U.S.)
• S K Kaken Co., Ltd (Japan)
• RPM International Inc. (U.S.)
• Jotun (Norway)
• NIPSEA GROUP (Singapore)
• Kwality Paints and Coatings Pvt. Ltd. (KPCPL) (India)
• PPG Industries, Inc., (U.S.)

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

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Disposable Respirator Market Size, Global Demand & Upcoming Trends Forecast 2019-2028 | Increasing Demand for N95 Respirators in Healthcare Settings

 The global disposable respirators market size is estimated to be worth USD 6.85 billion by 2028, registering a CAGR of -2.8% over the forecast period. The market valuation amounted to USD 6.31 billion in 2020 and grew to USD 8.38 billion in 2021 at a staggering 223.9%. The growth of this market is largely influenced by the prevailing and highly uncertain nature of the worldwide COVID-19 pandemic, which has led to heightened consumer focus on personal health, hygiene, and safety. Fortune Business Insights™ provides this information in an upcoming report titled, “Disposable Respirators Market, 2021-2028.”                        

Disposable respirators are designed to limit wearers' exposure to airborne particles that may be inhaled into the body via the nose or mouth. These products are intended to protect the wearer from harmful substances in a wide range of industries and work environments. The respirators fit tightly to the face and form a seal that helps ensure all air is drawn in through the filter. Since the outbreak of COVID-19, the demand for PPE, including respirators, has surged dramatically worldwide. To curb the spread of coronavirus infections, public health organizations such as the WHO have mandated face masks and other PPE.

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List of Key Players Profiled in the Disposable Respirators Market:

• 3M (Minnesota, U.S.)
• Honeywell International, Inc. (North Carolina, U.S.)
• COFRA S.r.l. (Barletta Andria Trani, Italy)
• Uvex Group (Fürth, Germany)
• MSA (Pennsylvania, U.S.)
• Moldex-Metric (California, U.S)
• Protective Industrial Products, Inc. (New York, U.S.)
• RZ Mask (Minnesota, U.S.)
• Makrite (Taipei, Taiwan)
• SHIGEMATSU WORKS CO., LTD. (Tokyo, Japan)
• Drägerwerk AG & Co. KGaA (Lübeck, Germany)
• Mallcom (India) Limited (Kolkata, India)
• Delta Plus Group (Apt, France)

COVID-19 Impact:

Supply Chain Disruptions amid COVID-19 to Create New Challenges for Manufacturers

Due to the sudden outbreak of COVID-19 in 2020, a dramatic rise in the demand for face masks and respirators was observed globally. Since no country had anticipated such a hike in demand, these products witnessed tremendous shortages in many parts of the world. Since China was the epicenter of the COVID-19 outbreak and one of the first countries to be impacted by the pandemic, various industrial facilities were forced to shut down or operate at a reduced capacity. Consequently, decreased industrial production in the country had a detrimental effect on all major economies across the globe. Besides these factors, the shortage of availability and high raw materials prices have slowed down market growth.

Segments-

In terms of product

• n-series
• p-series
• r-series

Based on end-user

• Transportation
• Manufacturing
• Energy
• Construction
• Healthcare

Geographically

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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Report Coverage-

The research report provides in-depth coverage of granular and actionable data. It focuses on major aspects such as key industry players, products, demanding technologies, and applications. The report offers comprehensive insights into the notable recent developments in the disposable respirators space. Additionally, it covers several direct and indirect factors that have contributed to the market growth in the past few years.

Drivers & Restraints-     

Increasing Demand for N95 Respirators in Healthcare Settings

Due to the ongoing COVID-19 situation, the healthcare sector is experiencing rapid change. The pandemic has led to an increased focus on personnel safety in healthcare environments, augmenting the demand and adoption of PPE. These trends will be further amplified by the rising geriatric population base and the rising number of COVID-19 cases worldwide. The growing need for respiratory protection in the healthcare industry to ensure the safety of the staff and patients during and after the pandemic will offer lucrative growth opportunities to the disposable respirators market in the future.

However, the potential environmental impact caused due to the discarding of disposable PPE could slightly hamper product adoption.

Regional Insights-

North America to Lead Market Share Backed by Strict Workplace Safety Standards

North America generated nearly USD 2.10 billion in annual revenue during 2020 and will continue to dominate the disposable respirators market share through 2028. The regional growth will be influenced by the strict workplace safety standards that require companies to provide suitable respiratory protection equipment to their employees.

Meanwhile, in Europe, the demand will be driven due to stringent norms that require the public to wear medical-grade respirators and masks. For instance, in Germany, the federal and state governments have introduced measures making it mandatory for people to wear surgical masks or FFP2 (European equivalent of N95) on public transportation and in stores regardless of vaccination status.

Asia Pacific will record notable growth during the forecast period led by the rapidly expanding manufacturing sector in the region. The market in Latin America and the Middle East & Africa will expand on ongoing construction and infrastructure development activities.

Industry Developments-

• February 2021 – Delta Plus Group acquired German PPE manufacturer Artex as part of its growth and expansion strategy.

Detailed Table of Content:

• Introduction
• Research Scope
• Market Segmentation
• Research Methodology
• Definitions and Assumptions
• Executive Summary
• Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Emerging Trends
• Key Insights
• Key Emerging Trends – For Major Countries
• Industry Porter’s Analysis
• Regulatory Analysis
• Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
• Qualitative Insights – Impact of COVID-19 on Global Disposable Respirator Market
• Supply Chain Challenges
• Steps taken by Government/Companies to overcome this impact
• Potential opportunities due to COVID-19 outbreak

• Global Disposable Respirator Market Analysis, Insights and Forecast, 2017-2028

• Key Findings / Summary
• Market Size Estimates and Forecast 
• By Product (Value)
• N-Series
• P-Series
• R-Series
• By End-use Industry (Value)
• Transportation
• Energy
• Manufacturing
• Construction
• Healthcare
• Others

TOC Continued…!

 

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US Aseptic Packaging Market Growth, Global Trends, Competition Analysis Forecasts by 2028 | Stakeholders Tap Asia Pacific Market to Gain Strategic Hold from Pharmaceutical Sector

 The aseptic packaging market size was valued at USD 53.77 billion in 2020. The market is projected to rise from USD 59.06 billion in 2021 to USD 121.96 billion by 2028 at a 10.9% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Aseptic Packaging Market, 2021-2028.”

According to the analysis, aseptic packaging solutions will gain traction to prevent contamination across the end-use sectors, including food & beverage and pharmaceuticals. Some of the factors, such as thermal stability, chemical resistance and lower level of contamination, are likely to augur well for the business outlook.

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COVID-19 Impact

Shutdown of Manufacturing Facilities to Dent Industry Outlook

The COVID-19 pandemic had a massive toll on the expansion of aseptic packaging materials across developing and developed countries. The penetration of packaging technologies witnessed a dip, partly due to moderate demand from the food & beverage sector. That said, strong demand for sterilized packaged food products encouraged investments in the landscape. Industry players expect the healthcare industry to exhibit profound demand for packaging technology.

Segments

In terms of material, the market is segregated into metal, plastic, paper & paperboard, glass, and others.

Based on type, the market is segmented into bags & pouches, cartons, bottles & cans, vials & ampoules, and others.

With respect to application, the market is fragmented into pharmaceutical, food, beverages, and others.

On the basis of region, the market includes North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America

Report Coverage

The report highlights top-down and bottom-up approaches to offer a holistic view of product mapping of both emerging players and well-established companies. Besides, primary sources, including interviews with major stakeholders and opinion leaders, have also been used in the report-making. The report includes secondary sources, such as SEC filings, press releases and website reports, fostering the veracity of the report. The report includes qualitative and quantitative analysis to provide a comprehensive view of the global market.

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Drivers and Restraints

Trend for Natural Food & Beverage Products to Bolster Industry Forecast

Millennials and the Gen Z population are slated to exhibit traction for organic and natural food products in the ensuing period. The palpable shift towards natural food & beverage products has prompted the development of quality packaging that can keep food fresh. Stakeholders expect the solution to boost shelf life, fostering the aseptic packaging market growth. Moreover, soaring demand for pharmaceutical drugs has fared well for leading companies vying to bolster their footfall.

Meanwhile, potential environmental impact, as well as the high cost of packaging, could impact the adoption of the packaging materials.

Regional Insights

Stakeholders Tap Asia Pacific Market to Gain Strategic Hold from Pharmaceutical Sector

Leading companies are likely to explore potential growth opportunities across China, Japan, Australia and India, largely due to the demand from the pharmaceutical sector. Burgeoning population across the emerging economies could provide promising opportunities in the ensuing period. Besides, the growing footprint of bread & confectionary and cosmetics will trigger investments across Asia Pacific.

The North America aseptic packaging market share will witness a commendable gain during the forecast period, partly attributed to investments in the healthcare sector. At the time when the demand for better healthcare has peaked in the U.S. and Canada, packaging technologies will continue to receive impetus.

Stakeholders predict the Europe market outlook to be strong on the back of soaring demand for alcoholic and non-alcohol beverages. In a bid to prevent contamination, end-users are likely to seek aseptic packaging materials. Advanced packaging solutions will be sought-after across the U.K., France and Germany in the ensuing period.

Competitive Landscape

Leading Companies Emphasize Strategic Approaches to Bolster Footfall

Both well-established players and new entrants are likely to invest in product launches, mergers & acquisitions, technological advancements and R&D activities. Prevailing trends indicate leading companies are slated to focus on geographical expansion during the forecast period.

Key Industry Development

• July 20201 – Tetra Pak and Stora Enso entered into an agreement to triple the recycling capacity of beverage cartons in Poland. The two companies will partner to provide circular solutions to the market with total investment is USD 32.8 million. The line will triple the annual recycling capacity of used beverage cartons in Poland from 25 KT to 75 KT tons.

Major Players Profiled in the Market Report:

• Amcor Limited (U.K.)
• Tetra Laval S.A. (Switzerland)
• Greatview Aseptic Packaging Co., Ltd. (China)
• IMA Group (Italy)
• SCHOTT Glass India Pvt. Ltd. (India)
• DS Smith (U.K.)
• Elopak Group (Norway)
• SIG Combibloc Group Ltd. (Switzerland)
• Printpack (U.S.)
• Sealed Air Corporation (U.S.)
• Other Key Players

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Silica Flour Market Regional Developments, Competitive Landscape Analysis and Future Outlook

 As per a published report the global silica flour market size is projected to reach USD 502.6 million by 2027 owing to the increasing utilization of the material in the production of ceramic, states Fortune Business Insights™ in its report, titled “Silica Flour Market, 2020-2027”. As per the report, the value of the market stood at USD 397.5 million in 2019 and is projected to register a CAGR of 3.5% from 2020 to 2027.

COVID-19 Impact

COVID-19 has put a halt on most of the operations around the globe in the first quarter of the global pandemic. As a result of which, the mining processes at all levels were affected. The complete shutdown of the mines has disrupted the supply of the raw materials required for silica flour, thereby restraining its growth during the forecast period.

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U.S. Silica Acquires Former Ceramic Proppant Facility

In July 2019, U.S. Silica announced the acquisition of a former ceramic proppant facility in Georgia, the U.S. With the help of the new facility, the company will be able to lower its production cost and improve its supply chain. This will also help the company move down in the value chain. In addition, the launch of this facility is anticipated to aid the company to accelerate product development and facilitate product customization as requested by the clientele, thereby boosting the silica flour market growth.

Paints and Coatings Segment to Register Highest Growth

Based on application, the market is segmented into paints & coatings, polymers, glass, and ceramics (sanitary ware, tiles, and others). The paints and coatings segment is expected to register the highest growth owing to the properties offered by silica, such as reflectance, brightness, and color consistency, that are ideal for producing paint. On the other hand, the ceramic segment held a share of 5.3% in 2019. In terms of the region, the market has been clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Increasing Disposable Income from the Developing Part of Asia Pacific to Strengthen Demand

The Asia Pacific silica flour market is projected to witness significant growth during the forecast period. The market secured a total value of USD 157.1 million in 2019. The increasing disposable income of the population in major countries of the region is estimated to accelerate the demand for silica flour in the region.

North America is projected to hold a considerable silica flour market share in the upcoming future. The key factor boosting the market growth of silica flour in the region is the rapid expansion observed in industries, such as paints & coatings and oil & gas.

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Innovation and Research to Aid Key Players offer more Efficient Products

Prominent manufacturers operating in the global market are focusing on innovation and research in order to offer a wide variety of products to their customers. This will help them expand their portfolio and expand their customer base. For instance, U.S. Silica has developed core proficiencies in operations, such as mining, processing logistics, and materials science, enabling the company to offer over 400 products worldwide.

Industry Development:

• July 2020: AGSCO Corporation declared the expansion of its Illinois, U.S. based warehousing capacity in order to improve its current turnaround capabilities and keeping highly demanded materials in stock. The expansion is projected to support the company to better supply industrial minerals, abrasives, and aggregates to its customer base.

 

List of Key Players Profiled in this Market Report:

• U.S. Silica Holdings, Inc. (U.S.)
• Sibelco (Belgium)
• AGSCO Corporation (U.S.)
• Fineton Industrial Minerals Limited (Hong Kong)
• Sil Industrial Minerals (Canada)
• Hoben International Ltd. (UK)
• Adwan Chemical Industries Co. Ltd. (Saudi Arabia)
• Capital Sand Company (U.S.)
• Finore Minerals LLP (India)
• Euroquarz GmbH (Germany)
• Al Salam Al Ma’asi Co. (Saudi Arabia)
• Delmon Group (Saudi Arabia)
• Other Key Players

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

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UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

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North America and Europe Bioplastics Market Size, Analysis, Share, Research, Business Growth and Forecast to 2028

 The North America and Europe bioplastics market size is projected to reach USD 11,321.8 million by 2028. The implementation of strict government norms in these regions to reduce the use of plastics has compelled producers to shift rapidly towards the development of bio-based plastics for numerous applications. In September 2020, for instance, NatureWorks announced its plan to enhance the efficiency of lactide monomer purification in Blair, Nebraska. It will help the company to surge the production of Ingeo™ (PLA) biomaterials portfolio by 10%. This information is given by Fortune Business Insights™ in a new study, titled, “North America and Europe Bioplastics Market, 2021-2028.” As per the study, the market stood at USD 5,178.9 million in 2020 and is expected to show a CAGR of 10.6% during the forecast period between 2021-2028.

COVID-19 Pandemic: Reduction in Manufacturing and Lack of Manpower to Obstruct Growth

The COVID-19 pandemic has impacted the transportation and production of bioplastics in North America and Europe owing to supply chain disruptions. The unavailability of material and lack of manpower have also enforced manufacturers to reduce manufacturing activities. These factors are expected to hamper the North America and Europe bioplastics industry. Our research reports will provide a clear picture of the current market scenario.

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Segmentation-

Rigid Packaging Segment Generated Share of 17.5% in 2020: Fortune Business Insights™

Based on the type, this industry is bifurcated into biodegradable and non-biodegradable. By applications, it is divided into rigid packaging, flexible packaging, and others. Out of these, the rigid packaging segment held 17.5% in terms of the North America and Europe bioplastics market share in 2020. This growth is attributable to the rising demand for sturdy and sustainable packaging products from shipping companies.

Report Coverage-

The research report includes an authentic analysis of multiple countries. It was curated by our analysts after studying various factors that determine regional growth, such as political, technological, social, economic, and environmental status. The competitive landscape section was specially created to help our clients better understand the acquisition and partnership strategies that organizations are focusing on to compete with their rivals.

Drivers & Restraints-

Increasing Demand from Electronics and Automotive Component Industries to Aid Growth

Bioplastics are extensively used in the packaging industry because of their ability to provide similar properties to conventional plastics. Also, the high demand from a wide range of industries, such as consumer goods, foods, electronics, and automotive components would propel the North America and Europe bioplastics market growth in the forthcoming years. However, separate disposable streams are required to eliminate bioplastics from the environment smoothly. Lack of these may hinder this industry.

Regional Insights-

Expansion of Automotive Industry to Help Europe Dominate in Upcoming Years

Geographically, Europe stood at USD 3,460.8 million in 2020 in terms of revenue. It is expected to remain at the forefront because of the expansion of the automotive industry. Coupled with this, the surging usage of bio-based packaging products and investments in R&D activities would accelerate growth. In North America, Mexico, Canada, and the U.S. are anticipated to majorly contribute to growth backed by the high demand for food and retail packaging.

 Competitive Landscape-

Key Players Focus on Capacity Expansions to Strengthen Their Positions in Market

The North America and Europe bioplastics industry contains numerous companies that are presently focusing on broadening their production capacities to cater to the high demand from customers. Below is one of the latest industry developments:

• September 2020: Total Corbion PLA announced its plan to construct its second PLA plant by expanding the capacity to 100,000 tons per annum. It would strengthen the position of the company by making it the global market leader. It will be able to fulfil the high demand for Luminy® PLA resins. The new plant will be developed in France and is expected to operate by 2024.

A list of reputed manufacturers in the market for North America and Europe bioplastics:

• Novamont S.p.A. (Italy)
• Arkema S.A. (France)
• Matrìca S.p.A. (Italy)
• Solvay S.A. (Belgium)
• NatureWorks LLC (U.S.)
• Total Corbion PLA bv (Netherlands)
• Toray Industries, Inc. (Japan)
• LyondellBasell Industries Holdings B.V. (Netherlands)
• BASF SE (Germany)
• Braskem (Brazil)

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US Construction Chemicals Market Demand, Recent Trends, Size and Share Estimation by 2026

 The global construction chemicals market size is projected to reach USD 70.91 billion by the end of 2026. The need for improved infrastructure will open up a huge potential for the growth of the market. According to a report by Fortune Business Insights, the market was worth USD 42.32 billion in 22018 and will exhibit a CAGR of 6.7% during the forecast period, 2019-2026.

Construction chemicals are used as additives in cement and other construction material. They are widely used for improving the performance of several products, with a bid to establishing durable and structures and interiors. The high investment in the research and development of newer products will have a positive impact on the growth of the market in the coming years.  Besides durability, this product provides strength to the substance in which they are used. The presence of several large scale companies will have a huge impact on the growth of the market in the foreseeable future. The properties of construction chemicals such have allowed applications across diverse construction sectors, subsequently contributing to the growth of the market.

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Variations in Product Offerings Will Aid Growth of the Market

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the variations in product offerings will have a huge impact on the growth of the market. Several large scale companies are looking to offer newer variations in these products with a bid to establishing a stronghold in the market. The In December 2018, Fosroc announced the launch of a green roof waterproofing grade of Polyurea. The product will offer improved resistance and water permeability, accounting to which it will witness huge demand in the coming years. Fosroc’s latest product will not only have a positive impact on the growth of the company, but will influence the growth of the market on a global scale.

Asia Pacific to Emerge Dominant; Increasing Investment in Product R&D by major Companies to Aid Growth

The report analyzes the ongoing construction chemicals market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, Asia Pacific currently dominates the market. The availability of raw materials has attracted start-ups as well as encouraged established companies. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years. As of 2018, the market in North America was worth USD 9.8 billion and this value is projected to increase further in the coming years.

Industry Developments:

September 2019: BASF unveiled a new production plant in the Philippines for supply of construction chemicals in local market.

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