US industrial filtration Market emerging trends, market drivers, development opportunities

 US industrial filtration Market Report provides an in-depth analysis of emerging trends, market drivers, development opportunities, and market constraints that may have an impact on the market dynamics of the industry. Each player highlighted in the research study contains Company Basic Information, Manufacturing Base, Sales Area, and its Competitors, an in-depth business overview, geographic footprint, and contact information. The report contains a comprehensive market and vendor landscape in addition to SWOT Analysis.

Key players in the  US industrial filtration market are profiled with detailed insights into company profile, product portfolio, geographical presence, statistical analysis, key developments, and growth strategies. Furthermore, the  US industrial filtration Market report provides a comprehensive analysis of the COVID-19 pandemic and how it has affected the market in the discussion. The study lays out how the pandemic affected the dynamics of the market and what are the future opportunities for market players.

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The US industrial filtration market size is anticipated to reach USD 48.52 Billion by 2026 on account of the rapid urbanization and the increasing need for clean energy and pure water. A recent report Fortune Business Insights™ titled, “US industrial filtration Market Size, Share & Industry Analysis, and Regional Forecast, 2019-2026,” offers a 360-degree overview of the market. According to this report, the market value was USD 34.79 Billion in 2018 and rise at a CAGR of 4.3% between 2019 and 2026.

This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the US industrial filtration market. The study assesses the market size of the US industrial filtration industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the US industrial filtration Market Report:

Top companies covered in the US industrial filtration Market Hollingsworth & Vose Company, 3M, American Air Filter Company, Inc., Dorstener Wire Tech, Ahlstrom-Munjskö, Graver Technologies, Lydall, Inc., Markel Corporation, Filtration Group, Parker Hannifin Corp., Mann + Hummel, Freudenberg Filtration Technologies SE & Co. KG, Aqseptance Group, Mott Corporation, Pall Corporation, Donaldson Company, Inc., Alfa Laval Inc., Universal Filtration and more players profiled.

The following are some of the US industrial filtration Market Reports' Most Important Features:

1. Detailed market study of the US industrial filtration market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The US industrial filtration Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the US industrial filtration Market Performance

US industrial filtration Market Segmentation

Next, the research report reveals the development of the US industrial filtration market segments. Analysts have segmented the market on the basis of product/service type, application, end-users, and geography. Analysts have evaluated the changing nature of the market segments, growing investments in manufacturing activities, and product innovations that are likely to impact them. In terms of geography, the report studies the changing political environment, social upliftment, and other government initiatives that are expected to contribute to the regional markets.

Regional Segmentation of the US industrial filtration Market:

The US industrial filtration research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the US industrial filtration study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The US industrial filtration research study also examines the market size and volume at the and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the US industrial filtration Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the US industrial filtration Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Scope of the Report:

An in-depth analysis of statistics on current and emerging trends provides clarity regarding US industrial filtration industry dynamics. The report includes Porter’s five forces to analyze the importance of various characteristics such as understanding of suppliers and customers, risks posed by various agents, competitive strength, and promising emerging businessmen to understand a resource. precious. Further, the report covers the US industrial filtration research data of various companies, benefits, gross margin, market strategic decisions, and more through tables, graphs, and figures. infographics.

Report Conclusion:

The report focuses on a thorough and comprehensive examination of the US industrial filtration industry, covering business patterns such as opportunities and innovations that are predicted to take advantage of the current market environment and strategic status. This market study report analyses the findings of in-house expert interviews, extensive secondary examinations, and primary interviews.

Table of Content – Analysis of Key Points:

Chapter 1. Executive Summary
Chapter 2.  Market Definition and Scope
Chapter 3.  Market Dynamics
Chapter 4.  US industrial filtration Market Industry Analysis
Chapter 5. US industrial filtration  Market, by Type
Chapter 6. US industrial filtration  Market, by Application
Chapter 7. US industrial filtration  Market, Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

Polypropylene Market SWOT Analysis by Growth Factors from 2022-2028

The global polypropylene market size is projected to reach USD 108.57 billion by 2028, exhibiting a CAGR of 5.2% during the forecast period. As per the report by Fortune Business Insights™, titled “Polypropylene Market, 2021-2028”, the market size was USD 75.12 billion in 2020 and is estimated to hit USD 76.00 billion in 2021.

Advancements in Plastic Recycling Technologies to Create New Growth Opportunities

Plastic pollution has become a scourge of development for the planet. Now, chemical industry companies, with support from governments and international bodies, are taking concerted steps to tackle this problem head-on using advanced recycling technologies. For example, in April 2021, INEOS bagged the ISCC Plus award from the International Sustainability & Carbon Certification organization for its successful commercial-scale trials of next-generation recycling technology to produce polypropylene (PP), high-density polyethylene (HDPE), propylene, and ethylene. In the same month, the US Polypropylene Recycling Coalition, a cross-industry collaboration, sanctioned USD 1 million to three facilities to augment the recovery of PP in the US. Thus, growing recognition and improving funding for the plastic circular economy will play a vital role in the development of this market.

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Segmentation

Based on type, the market is bifurcated into homo polymer and copolymer.

On the basis of end-user, this market has been segmented into packaging, automotive, infrastructure & construction, consumer goods/lifestyle, healthcare & pharmaceuticals, electrical & electronics, agriculture, and others. Here, the consumer goods/lifestyle segment accounted for a 7.1% share in the global market in 2020.

By region, the market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

COVID-19 Impact

The polypropylene market growth slumped by 1.1% in 2020 due to the sharp decline in the demand for polymers from the automotive industry amid the COVID-19 pandemic. With multiple restrictions in place around the world, automakers have had to close down many of their plants to adhere with government rules. Moreover, the adoption of vehicles is tumbling worldwide as a large chunk of people are working from home, resulting in an unprecedented contraction in the utilization of cars across the globe.

 

Highlights of the Report

The report supplies an in-depth examination of the various factors shaping the growth trajectory of the market, along with a detailed analysis of the hindrances facing the market. Additionally, the report contains a comprehensive study of the regional and competitive dynamics influencing the market, as well as a careful assessment of the individual market segments.

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Competitive Landscape

Launch of Breakthrough Products by Key Players to Electrify the Market

As the demand for novel polymer formulations continues to rise, key players in this market are investing strategically in research & development activities to build breakthrough polypropylene-based products. These offerings are being designed for diverse applications across industries, which, in turn, will deepen the companies’ foothold in the market.

Industry Development

• December 2020: LyondellBasell introduced Beon3D, an inventive suite of PP products that combines additive manufacturing solutions with polymer technologies. The new line has been engineered to facilitate the designing and production of complex and high-quality 3D objects.

 

List of Key Players Covered in this Market Report

• Beaulieu International Group (Belgium)
• Borealis AG (Austria)
• Repsol (Spain)
• Braskem (Brazil
• Formosa Plastic Group (Taiwan)
• Ducor Petrochemicals (Netherlands)
• China Petroleum & Chemical Corporation (China)
• China National Petroleum Corporation (China)
• LyondellBasell Industries N.V. (Netherlands)
• MOL Group (Hungary)
• Borouge (UAE)
• BASF SE (Germany)
• Total S.A. (France)
• Reliance Industries Limited (India)
• SABIC (Saudi Arabia)
• INEOS (UK)
• ExxonMobil Chemical (U.S.)

 

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Driving Factor

Integration of PP in Electric Vehicles to Catalyze Market Growth

With vehicle pollution at an all-time high in major economies, the adoption of electric vehicles (EVs) is surging worldwide. For example, in 2019, global electric car sales reached 2.1 million, according to data released by the International Energy Agency (IEA). The key to enhancing the energy efficiency of EVs is to reduce their weight by employing lightweight materials in the manufacturing of their components. Polypropylene, which is a thermoplastic, is perfectly suited to meet this goal, primarily because it has low density. As a result, many EV makers are actively integrating PP in their products to make them more energy-efficient. For example, the Skoda Scala features 10% low-talc PP from Borealis, which has been used to make the car’s center console, glove box, and instrument panel. Similarly, Renault’s B4D engine leverages a PP compound for the air intake manifold, weighing 15% lesser than manifolds made from traditional polyamide-based materials. In sum, the incorporation of PP-based materials in EVs is the new thriving trend in the plastics industry, which is propelling the market.

 

Regional Insights

Promising Growth of the Packaging Industry to Aid the Asia Pacific Market

Supported by the spectacular growth of the packaging industry, Asia Pacific is set to dominate the polypropylene market share during the forecast period. The progress of the packaging industry in this region is driven by rapid urbanization in India and China, where packaged foods, beverages, and consumer goods are in high demand. The region’s market size stood at USD 39.95 billion in 2020.

The market in North America is expected to make substantial headway, albeit at a CAGR lower than that of Asia Pacific, due to the extensive utilization of polypropylene in electronics manufacturing in the region. In Europe, the principal factor aiding the PP market is the enormous production and consumption of automobiles.

 

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US Polyethylene Industry analysis report facilitate a more defined understanding of the Industry

 Research study proficient by Fortune Business Insights™ database of 100+ pages report, titled "US Polyethylene Industry" with 50+ Industry data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. The statistical and numerical data are represented in graphical format for a neat understanding of facts and figures of Industry research analysis. Furthermore, the business report presents the data and information for actionable, most recent, and real-time industry insights which make it easier to even take critical business decisions.

The Industry insights gained through this US Polyethylene Industry analysis report facilitate a more defined understanding of the Industry landscape, issues that may interrupt in the future, and ways to position a definite brand excellently. Using SWOT analysis, the report examines Industry drivers and restraints, as well as their impact on demand during the predicted period. By taking into consideration significant elements such as revenue, cost, and gross margin, this Industry research study provides a comprehensive overview of product specification, product type, production analysis, and technology. 

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Top Key Players are covered in the US Polyethylene Industry Report:

With the help of the competitive analysis included in this report, important tactics taken by leading competitors in the US Polyethylene Industry can be simply studied. This will assist players in becoming more familiar with their hardest competitors’ moves in the US Polyethylene industry.

• LyondellBasell Industries N.V. (Netherlands)
• ExxonMobil Chemical (U.S.)
• China National Petroleum Corporation (China)
• INEOS (UK)
• China Petroleum & Chemical Corporation (China)
• SABIC (Saudi Arabia)
• Ducor Petrochemicals (Netherlands)
• Reliance Industries Limited (India)
• Formosa Plastic Group (Taiwan)
• Braskem (Brazil)
• Repsol (Spain)
• Borouge (UAE)
• Borealis AG (Austria)
• MOL Group (Hungary)
• Beaulieu International Group (Belgium)
• Other Key Players

Competitive Assessment:

The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the Industry, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable Industry insights and comprehensive analysis. The US Polyethylene Industry report mainly focuses on important aspects of the Industry which include historical data, current Industry trends, environment, technological innovations, upcoming technologies, and the technological advancement in the industry among others.

Key Highlights of the US Polyethylene Industry Reports:

– Comprehensive Assessment of the Parent Industry.

– Evolution of Key Aspects of the Industry Survey of Industry.

– Wide Industry Segments Assessment of Industry Value and Amount for Past, Present, and Forecast Year.

– Historic, existing, and predictable Industry size in terms of extent and worth.

– Industry Share Assessment Niche Industry Sector

Scope & Segmentation of the Report:

The US Polyethylene Industry report comprises an in-depth study of the potential segments including product type, application, and end-user, and their contribution to the overall Industry size. The report provides an accurate and professional study of The complex analysis of opportunities, growth factors, and future forecasts presented in simple and easy-to-understand formats. The report covers the US Polyethylene Industry by developing technology dynamics, financial position, growth strategy, and product portfolio during the forecast period.

US Polyethylene Industry Analysis and Outlook:

The main focus of the US Polyethylene Industry report is to educate Industry business owners about various dynamics of the Industry such as Industry size, current trends, growth opportunities, various factors affecting the Industry, and novel technological advancements in this industry over the forecast period (2022-2029). The Industry analysis includes a section solely dedicated to the major players in the  US Polyethylene Industry, where our analysts provide an insight into the financial statements of all the major players along with the product benchmarking and SWOT analysis of their key developments.

To learn more about US Polyethylene Industry, you can get in touch with our Analyst- https://www.fortunebusinessinsights.com/enquiry/queries/101584

Regional Analysis:

Geographically, the detailed analysis of consumption, revenue, Industry share, and growth rate of the following regions:

- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (the United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, USy, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

The study objectives of this report are:

1] To study and analyze the  US Polyethylene Industry size (value and volume) by the company, key regions/countries, products and applications, history data from 2015 to 2029, and forecast to 2029.

2] To understand the structure of the US Polyethylene Industry by identifying its various subsegments.

3] To share detailed information about the key factors influencing the growth of the Industry (growth potential, opportunities, drivers, industry-specific challenges, and risks).

4] Focuses on the key  US Polyethylene Industry manufacturers, to define, describe and analyze the sales volume, value, Industry share, Industry competition landscape, SWOT analysis, and development plans in the next few years.

5] To analyze the US Polyethylene Industry with respect to individual growth trends, future prospects, and their contribution to the total Industry.

6] To project the value and volume of the US Polyethylene Industry, with respect to key regions (along with their respective key countries).

7] To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the Industry.

8] To strategically profile the key players and comprehensively analyze their growth strategies.

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US Bleaching Clay Market is set to gain traction from its increasing usage in the production of fats and oils for food applications

 Bleaching Clay Market Report provides an in-depth analysis of emerging trends, market drivers, development opportunities, and market constraints that may have an impact on the market dynamics of the industry. Each player highlighted in the research study contains Company Basic Information, Manufacturing Base, Sales Area, and its Competitors, an in-depth business overview, geographic footprint, and contact information. The report contains a comprehensive market and vendor landscape in addition to SWOT Analysis.

Key players in the market are profiled with detailed insights into company profile, product portfolio, geographical presence, statistical analysis, key developments, and growth strategies. Furthermore, the global Bleaching Clay Market report provides a comprehensive analysis of the COVID-19 pandemic and how it has affected the market in the discussion. The study lays out how the pandemic affected the dynamics of the market and what are the future opportunities for market players.

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The global US Bleaching Clay Market is set to gain traction from its increasing usage in the production of fats and oils for food applications. As per Statista, the worldwide consumption of palm oil during the period of 2019 to 2020 was 71.9 million metric tons, while soybean oil stood at 56.68 million metric tons. This information is given by Fortune Business Insights™ in a new study, titled, “US Bleaching Clay Market, 2021-2028.” As per the study, the market size was USD 280,862.0 thousand in a2020 and is projected to reach USD 474,591.3 thousand by 2028, exhibiting a CAGR of 6.9% during the forecast period.

This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the US Bleaching Clay Market. The study assesses the market size of the global Bleaching Clay industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the US Bleaching Clay Market Report:

Top Companies covered are AMCOL Minerals Europe (Winsford, United Kingdom), Ashapura Group (Pune, Maharashtra, India), EP Minerals (Reno, NV, United States), Clariant (Muttenz, Switzerland), Musim Mas Holdings (Singapore), Oil-Dri Corporation of America (Chicago, Illinois, United States), Taiko Group of Companies (Ipoh, Perak, Malaysia) and Other Key Players

The following are some of the US Bleaching Clay Market Reports' Most Important Features:

1. Detailed market study of the Bleaching Clay market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Bleaching Clay Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

Bleaching Clay Market Segmentation

Next, the research report reveals the development of the market segments. Analysts have segmented the market on the basis of product/service type, application, end-users, and geography. Analysts have evaluated the changing nature of the market segments, growing investments in manufacturing activities, and product innovations that are likely to impact them. In terms of geography, the report studies the changing political environment, social upliftment, and other government initiatives that are expected to contribute to the regional markets.

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Regional Segmentation of the Bleaching Clay Market:

The Bleaching Clay research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the Bleaching Clay study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The Bleaching Clay research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» US

Scope of the Report:

An in-depth analysis of statistics on current and emerging trends provides clarity regarding Bleaching Clay industry dynamics. The report includes Porter’s five forces to analyze the importance of various characteristics such as understanding of suppliers and customers, risks posed by various agents, competitive strength, and promising emerging businessmen to understand a resource. precious. Further, the report covers the Bleaching Clay research data of various companies, benefits, gross margin, global market strategic decisions, and more through tables, graphs, and figures. infographics.

Report Conclusion:

The report focuses on a thorough and comprehensive examination of the Bleaching Clay industry, covering business patterns such as opportunities and innovations that are predicted to take advantage of the current market environment and strategic status. This market study report analyses the findings of in-house expert interviews, extensive secondary examinations, and primary interviews.

Table of Content – Analysis of Key Points:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Bleaching Clay Market Industry Analysis
Chapter 5. Bleaching Clay Global Market, by Type
Chapter 6. Bleaching Clay Global Market, by Application
Chapter 7. Bleaching Clay Global Market, Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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About Us:

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.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

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Fatty Methyl Ester Sulfonate Market Sales Revenue, Key Players Analysis, Development Status, Opportunity Assessment and Industry Expansion Strategies 2029

 According to Fortune Business Insights™ the global fatty methyl ester sulfonate market size is set to enter a period of dynamic expansion owing to the exponential growth in urban areas around the globe, states Fortune Business Insights™ in its report, Recent estimates released by the UN Department of Economic and Social Affairs (UN DESA) show that approximately 55% of the global population lives in urban areas. According to the UN DESA predictions, by 2050, nearly 70% of the world’s population will be housed across urban agglomerates worldwide, with Asia and Africa accounting for almost 90% of this increase. This augurs well for this market because fatty methyl ester sulfonate is majorly used in laundry detergents and personal care products. These items are easily accessible and affordable to urban populations and their growing demand in emerging economies will further propel the market in the coming years.

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List of Key Players Profiled in the Fatty Methyl Ester Sulfonate Market Report:

• Huish Detergent Inc.
• P&G Chemicals
• Henan Surface Chemical Industry Co., Ltd
• Lion Corporation
• KLK Oleo
• Stepan Company
• Emery Oleochemicals
• Chemithon
• Zanyu Technology Group Co.
• Jinchang Chemical

Market Driver

Increasing Preference for Biodiesel to Create Numerous Opportunities

A novel driver shaping the fatty methyl ester sulfonate market growth is the increasing inclination of consumers and manufacturers towards biodiesel. Extracted from natural sources such as vegetable oils and waste animal fat, different fatty acid methyl esters are combined to produce biodiesel. Their most distinguishing feature is that they have properties similar to those of conventional diesel, but they are biodegradable and non-toxic. With air pollution reaching startling levels around the globe, the need for biodiesel blends is at an all-time high. According to the US Department of Energy’s Argonne National Laboratory, biodiesel consumption reduces carbon dioxide emissions by 74% compared to conventional diesel. In Europe, carmakers are actively testing the effects of biodiesel on vehicular performance. Thus, as the adoption of biodiesel steadily grows, the market for fatty methyl ester sulfonate is expected to gain significant traction in the foreseeable future.

Regional Insights

Rising Disposable Incomes in Asia Pacific to Accelerate Regional Market Growth

Among regions, Asia Pacific is anticipated to lead the fatty methyl ester sulfonate market share in the forthcoming years as expanding incomes of consumers in the region is fueling the demand for personal care products in the region. In addition, promising growth in the production of niche raw materials such as agro-chemicals and natural-derived ingredients for home and personal care products will also provide impetus to the regional market growth.

In North America, the primary market driver will be the proliferation of detergent manufacturers in the US and Canada over the past several years. On the other hand, the market in Europe will be supported by the growing preference for biodegradable personal care items as well as increasing research into the potential of fatty methyl esters in the production of biodiesel.

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Report Aim & Scope:

• An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
• The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
• The various parameters accelerating the growth of the market are incorporated in the research report.

Competitive Landscape

Operational Expansion to be Key Growth Strategy for Market Players

With a view to penetrate the rapidly expanding economies of Asia, Africa, and Latin America, key players in this market are strategically expanding their operations in these regions. Their primary focus is on introducing products and solutions that cater to the local requirements in these regions.

Industry Developments:

• September 2020: Stepan Company entered into an agreement with Clariant (Mexico) to take over Clariant’s anionic surfactant business as well as sulfation equipment at its plant in Santa Clara, Mexico. The acquisition will enable Stepan to meet the growing demand for surfactants in Mexico.
• September 2020: Emery Oleochemicals launched its general purpose product suite of fatty acid esters called EMERY® E. Designed as sustainable alternatives to fossil fuel-based raw materials, the products within the suite feature a high biodegradability quotient, low odor, and good color stability.

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Polypropylene Market 2022 Driven by rise in surgical procedures and increase in global geriatric population

The global polypropylene market size is projected to reach USD 108.57 billion by 2028, exhibiting a CAGR of 5.2% during the forecast period. As per the report by Fortune Business Insights™, titled “Polypropylene Market, 2021-2028”, the market size was USD 75.12 billion in 2020 and is estimated to hit USD 76.00 billion in 2021.

Advancements in Plastic Recycling Technologies to Create New Growth Opportunities

Plastic pollution has become a scourge of development for the planet. Now, chemical industry companies, with support from governments and international bodies, are taking concerted steps to tackle this problem head-on using advanced recycling technologies. For example, in April 2021, INEOS bagged the ISCC Plus award from the International Sustainability & Carbon Certification organization for its successful commercial-scale trials of next-generation recycling technology to produce polypropylene (PP), high-density polyethylene (HDPE), propylene, and ethylene. In the same month, the US Polypropylene Recycling Coalition, a cross-industry collaboration, sanctioned USD 1 million to three facilities to augment the recovery of PP in the US. Thus, growing recognition and improving funding for the plastic circular economy will play a vital role in the development of this market.

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Segmentation

Based on type, the market is bifurcated into homo polymer and copolymer.

On the basis of end-user, this market has been segmented into packaging, automotive, infrastructure & construction, consumer goods/lifestyle, healthcare & pharmaceuticals, electrical & electronics, agriculture, and others. Here, the consumer goods/lifestyle segment accounted for a 7.1% share in the global market in 2020.

By region, the market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

COVID-19 Impact

The polypropylene market growth slumped by 1.1% in 2020 due to the sharp decline in the demand for polymers from the automotive industry amid the COVID-19 pandemic. With multiple restrictions in place around the world, automakers have had to close down many of their plants to adhere with government rules. Moreover, the adoption of vehicles is tumbling worldwide as a large chunk of people are working from home, resulting in an unprecedented contraction in the utilization of cars across the globe.

 

Highlights of the Report

The report supplies an in-depth examination of the various factors shaping the growth trajectory of the market, along with a detailed analysis of the hindrances facing the market. Additionally, the report contains a comprehensive study of the regional and competitive dynamics influencing the market, as well as a careful assessment of the individual market segments.

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Competitive Landscape

Launch of Breakthrough Products by Key Players to Electrify the Market

As the demand for novel polymer formulations continues to rise, key players in this market are investing strategically in research & development activities to build breakthrough polypropylene-based products. These offerings are being designed for diverse applications across industries, which, in turn, will deepen the companies’ foothold in the market.

Industry Development

• December 2020: LyondellBasell introduced Beon3D, an inventive suite of PP products that combines additive manufacturing solutions with polymer technologies. The new line has been engineered to facilitate the designing and production of complex and high-quality 3D objects.

 

List of Key Players Covered in this Market Report

• Beaulieu International Group (Belgium)
• Borealis AG (Austria)
• Repsol (Spain)
• Braskem (Brazil
• Formosa Plastic Group (Taiwan)
• Ducor Petrochemicals (Netherlands)
• China Petroleum & Chemical Corporation (China)
• China National Petroleum Corporation (China)
• LyondellBasell Industries N.V. (Netherlands)
• MOL Group (Hungary)
• Borouge (UAE)
• BASF SE (Germany)
• Total S.A. (France)
• Reliance Industries Limited (India)
• SABIC (Saudi Arabia)
• INEOS (UK)
• ExxonMobil Chemical (U.S.)

 

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Driving Factor

Integration of PP in Electric Vehicles to Catalyze Market Growth

With vehicle pollution at an all-time high in major economies, the adoption of electric vehicles (EVs) is surging worldwide. For example, in 2019, global electric car sales reached 2.1 million, according to data released by the International Energy Agency (IEA). The key to enhancing the energy efficiency of EVs is to reduce their weight by employing lightweight materials in the manufacturing of their components. Polypropylene, which is a thermoplastic, is perfectly suited to meet this goal, primarily because it has low density. As a result, many EV makers are actively integrating PP in their products to make them more energy-efficient. For example, the Skoda Scala features 10% low-talc PP from Borealis, which has been used to make the car’s center console, glove box, and instrument panel. Similarly, Renault’s B4D engine leverages a PP compound for the air intake manifold, weighing 15% lesser than manifolds made from traditional polyamide-based materials. In sum, the incorporation of PP-based materials in EVs is the new thriving trend in the plastics industry, which is propelling the market.

 

Regional Insights

Promising Growth of the Packaging Industry to Aid the Asia Pacific Market

Supported by the spectacular growth of the packaging industry, Asia Pacific is set to dominate the polypropylene market share during the forecast period. The progress of the packaging industry in this region is driven by rapid urbanization in India and China, where packaged foods, beverages, and consumer goods are in high demand. The region’s market size stood at USD 39.95 billion in 2020.

The market in North America is expected to make substantial headway, albeit at a CAGR lower than that of Asia Pacific, due to the extensive utilization of polypropylene in electronics manufacturing in the region. In Europe, the principal factor aiding the PP market is the enormous production and consumption of automobiles.

Asphalt Market May See a Big Move

The global asphalt market is expected to gain traction from the ongoing technological advancements taking place in the mixing plants. Besides, several manufacturers are focusing on developing state-of-the-art solutions to fulfill industry requirements and consumer demand worldwide. This information is given by Fortune Business Insights™ in a recently published report, titled, “Asphalt Market Size, Share & Industry Analysis, By Product (Paving, Roofing, and Others), By Application (Roadways, Waterproofing, Recreation, and Others), and Regional Forecast, 2020-2027.” The report further mentions that the asphalt market size stood at USD 222.0 million in 2019 and is expected to reach USD 321.5 million by 2027, exhibiting a CAGR of 4.8% during the forecast period.

This Report Answers the Following Questions:

• What are the significant market growth drivers and obstacles?
• Which segment is set to lead the market in terms of share?
• How will the companies cope up with the current outbreak of the coronavirus infection?
• What are the crucial strategies adopted by companies to intensify competition?

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Drivers & Restraints-

Rising Need for Protecting Buildings from Harsh Weather to Drive Growth

The frequently changing climatic conditions are affecting the infrastructures. Hence, consumers are becoming more aware of the same. Apart from this, the rising concerns about global warming are starting to influence several consumers to use novel technologies for preventing the structures from extreme weather conditions. It is, in turn, resulting in the high demand for roofing to protect new and aging structures. Asphalt is nowadays increasingly utilized in applications such as waterproofing and recreation. Waterproofing is necessary for avoiding dampness, leakages, decay, molds, and mildew in buildings. However, many people are gradually inclining towards cement roadways from bitumen roads. It may hamper the asphalt market growth in the coming years.  

Segment-

Roadway Segment to Dominate Fueled by Expansion of Construction Industry

In terms of application, the market is segregated into recreation, waterproofing, roadways, and others. Amongst these, the recreation segment generated 17.4% in 2019 in terms of this market share. This growth is attributable to the rising population worldwide. The roadways segment is anticipated to dominate stoked by the expansion of the construction industry. However, owing to the present pandemic, the construction industry may decline in 2020, but start growing once again in the forthcoming years.

Regional Analysis-

Asia Pacific to Remain at the Forefront Stoked by Rapid Urbanization

Asia Pacific is set to grow considerably in the coming years because of the presence of a well-established construction sector in this region. The developing nations, such as India, China, and South Korea are the major contributors to growth. Industry consolidations and rapid urbanization in these countries would also affect the market positively. However, COVID-19 pandemic has reduced the growth rate. As per our research, Hong Kong’s construction industry recently laid off approximately 50,000 employees on account of the disruptions in the supply of labor and raw material from China.

In 2019, North America, on the other hand, procured USD 65.43 million in terms of revenue. This growth is attributable to the rising trend of maintenance of highways and roadways, as well as the recreation of residential buildings. Coupled with these, favorable government policies, rising construction activities, and robust economic growth are anticipated to drive the demand in this region.

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Competitive Landscape-

Key Companies Focus on Bagging Orders from Other Enterprises to Surge Sales

The global market is highly fragmented with the presence of numerous big, medium, and small-sized companies globally. They are persistently adopting the strategies of investment, gaining new projects, mergers & acquisitions, collaborations, and others. Below is one of the most recent industry developments:

• March 2020: CEMEX, a renowned provider of building materials, recently supplied more than 25,000 tonnes of asphalt to RAF Coningsby, a Quick Reaction Alert Stations in the U.K. It protects the UK airspace. CEMEX helped in meeting the complex asphalt specifications provided by the Ministry of Defence.

Fortune Business Insights™ presents a list of all the manufacturers operating in the global market. They are as follows:

• Solaris Bus & Coach S.A
• ŠKODA ELECTRIC A.S.
• Hometown Trolley
• Astra Bus
• Gomaco Trolley Co.
• Molly Corporation
• Salzburg AG
• Pandrol
• BPSWA INC.
• Bohdan Corporation
• ZF Friedrichshafen AG
• Kiepe Electric GmbH
• New Flyer of America Inc.
• Dina
• Yutong
• Carrosserie HESS AG

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