The global furfural market is projected to grow at a CAGR of 7.0% during the forecast period of 2023 and 2031. In the near future, the expansion of the market is anticipated to be fuelled by the increased demand for furfuryl alcohol due to rising concerns about renewable products. Furfural is largely employed as a solvent or intermediate in a variety of end-use sectors, including foundries, pharmaceuticals, paints & coatings, agriculture, chemicals, refineries, automotive, and construction, among others.
The global market for copper fungicides is projected to expand at a CAGR of 6.2% during the forecast period of 2023 and 2031. The presence of fungal diseases can be a significant challenge for gardeners, particularly when the weather is warmer and wetter than is typical for the season. Copper fungicides are commonly used as the initial line of defense, particularly by gardeners who would rather not make use of chemical fungicides.
The value of the global alcohol ethoxylates market is projected to register a CAGR of 4.5% over the forecast period of 2024 to 2032. Increasing demand for industrial & institutional and domestic cleaners of superior quality is anticipated to fuel market expansion over the forecast period. In addition, the application industries' increased need for biodegradable surfactants is anticipated to boost market expansion.
The bio-based esters market is expected to grow at a CAGR of 9% during the forecast period of 2024 to 2032, driven by key conclusions. Notably, the industry is propelled by robust drivers such as the increasing demand for sustainable alternatives, a growing focus on bio-based products, and versatile applications across diverse sectors. These drivers position the market for substantial growth.
Anti-static agents’ market is expected to grow at a CAGR of 6.8% during the forecast period of 2024 to 2032. Anti-static chemicals are used on material surfaces to prevent the build-up of static electrical charge owing to the transmission of electrons. It makes the substance conductive either by becoming conductive itself or by absorbing the moisture from the environment. These agents are biodegradable, free of sodium and potassium, and do not possess any environmental concerns.
The fabrics that have digital and electronics components entrenched in them are referred as E-textiles or electronic textiles or smart fabrics. These fabrics have the ability to recognize and sense stimuli from the surroundings and adapt & respond to those stimuli in a pre-programmed way. Their capability to grow, correspond, transform, and even conduct energy makes them different from the normal textiles, thus adding worth to the wearer.
The silicon anode battery market is projected to expand at a CAGR of 45.0% during the forecast period of 2024 to 2032. The increase in demand for high-performance batteries in energy storage applications is accelerating the market expansion of silicon anode batteries. A lithium-ion (Li-ion) battery with a silicon anode is known as a lithium-ion (Si-ion) battery.
Adhesion barriers are used for reducing internal scarring and separating the internal organs and tissues therefore avoiding organ adhesion. These products are predominantly employed in abdominal, orthopedic, reconstructive, urological and gynecological surgeries. Of the various formulations available, adhesion barriers film based products are the most widely used. As the global rate of surgical procedures is consistently increasing, the demand and uptake of adhesion barriers is also expected to rise correspondingly. Adhesion barriers are viewed as an effective tool to reduce the post-surgical complications arising from adhesion of tissues or organs, therefore reducing the risk of follow-up procedures and overall procedural cost.
The global acrylate market is segmented based on product types into butyl acrylate, ethyl acrylate, methyl acrylate and 2- ethyl hexyl acrylate. Butyl acrylate is widely used in the production of acrylic polymers, paints, inks, polyethylene, textiles, adhesive and papers. Adhesives, coatings and textile are the major contributor for the growing demand of butyl acrylate across the globe.
Airlaid Papers are categorized as “nonwoven fabric” which resemble material same as textile and is made from pulp (fluff). These are very soft, bulky and porous with greater absorption capacity than normal tissues papers. Some common applications of air laid papers are feminine hygiene, disposable diapers, industrial wipes, napkins and personal care products such as wet wipes among others.
The global market for chemicals is expected to grow at a CAGR of 8.5% during the forecast period of 2023 to 2031. The worldwide chemical business, valued at $2.4 trillion, is one of the manufacturing industry's fastest-growing areas. General chemical products, printing inks, toiletries, soap and cleaning compounds, adhesives, paints and coatings, pesticides and other types of agricultural chemicals, chemical fertilizers, synthetic rubber and fibers, plastic material and resins, ethyl alcohol and other basic organic and inorganic chemicals, synthetic dye and pigment, industrial gas, and petrochemicals are the most common types of chemicals. Printing ink consists of a pigment or pigments of the desired hue that is combined with oil or varnish. Intermediate chemicals consist of methanol, ethylene oxide, and propylene oxide. Pharmaceuticals, agrochemicals, water treatment, construction, paints and dyes, oil and gas, rubber compounds, surfactants, personal care, and more end-users are involved.
The chemical industry is one of the oldest manufacturing businesses. It not only plays a critical role in addressing the day-to-day demands of the average citizen but also greatly contributes to the industrial and economic development of a nation. In the past few years, the global chemical industry has undergone significant structural changes, including the relocation of manufacturing facilities to Asian countries, the emergence of new growth markets, the introduction of new technologies, and the all-encompassing effect of the global economic crisis coupled with rising raw material costs. As a result of the global economic crisis, the commodity/bulk and specialty chemicals markets have experienced dramatic losses in demand and profit over the past two years. The need for chemicals is anticipated to return to developed countries, albeit to a lesser degree than in Asia. All of the main chemical firms anticipate that rising markets, such as China, India, Brazil, and Korea, will contribute to the sales growth of their chemical products. Given its huge potential advantage in low-cost hydrocarbon feedstocks primarily backed by proximity to Crude oil, the Middle East has also attracted a great deal of investments, mergers, and acquisitions, as well as additional capacity. This is mostly owing to the higher GDP growth rates attributable to economic expansion and the development of new applications in these regions. The global chemical sector will continue to place a strong emphasis on managing cash flow, controlling operating rates, and assuring worldwide supplies of raw materials. Major obstacles continue to be laws and carbon emissions policies, which are pushing industries towards greener goods and away from feedstocks derived from petrochemicals.
To remove the harmful effects of chemical manufacturing on the environment, chemical businesses are rapidly implementing eco-friendly and sustainable processes. The evolution of technology and the chemical sciences enables chemical firms to use alternate fuels to manufacture chemical goods. They are utilizing naturally occurring carbon dioxide to manufacture fuels, industrial products, and other compounds. For instance, the chemicals and coatings company Akzo Nobel N.V. plans to invest seven figures in Green Lizard Technologies' proprietary technology to produce surfactants from plants as opposed to oils. JXTG Holdings Inc., Sinopec Limited, BASF SE, Procter & Gamble, Unilever plc, L'Oreal SA, Dow Inc., Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Holdings Corp, and Guardian Industries, LLC are major players in the chemicals sector.
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