Specialty Chemicals Market Share, Globe Key Updates, Demand, Size, and Industry Forecast to 2028 The global specialty chemicals market is projected to reach USD 882.6 billion by 2028, exhibiting a CAGR of 4.7% during the forecast period. The market’s value stood at USD 627.7 billion in 2020 and is expected to hit USD 641.2 billion in 2021, according to Fortune Business Insights™ in its report, titled “Specialty Chemicals Market, 2021-2028”. However, the market growth slumped by 2.8% in 2020 owing to the devastation caused by the COVID-19 pandemic outbreak. With transportation and travel activities heavily restricted to contain the coronavirus, chemical companies and suppliers faced huge inventory shortages, triggering a precipitous drop in sales and revenues. On the flip side, the integral role played by chemical companies in the battle against COVID-19 will prove crucial in the post-pandemic period for them. Solvay Launches New Line of High-Performance PPA Compounds Specialty chemicals giant Solvay released Amodel Supreme PPA, its new suite of high-performance PPA (polyphthalamide) compounds in April 2021. Formulated to serve complex e-mobility and metal replacement applications, Amodel Supreme promises to deliver superior performance for systems that demand exceptional electrical, mechanical, and thermal properties. With its outstanding features, the application range of this product covers components for telecommunication equipment, electric & electronic devices, housings for high-temperature electrical connectors, and electrically powered units for battery-based motors. The launch of this breakthrough polymer-based family of compounds will enable Solvay to deepen its footprint in the chemical industry. Mounting Concerns over Food Security Worldwide to Benefit the Agrochemicals Segment On the basis of type, the market has been divided into agrochemicals, dyes & pigments (which held a market share of 22.5% in 2020), construction chemicals, specialty polymers, textile chemicals, base ingredients, surfactants, functional ingredients, water treatment, and others. Among these, the agrochemicals segment is expected to dominate the market on account of the skyrocketing demand for specialty chemicals in the agriculture industry to boost farm yield. The underlying cause for this is the intensifying concerns surrounding food security in many parts of the world, driven by increasing populations and depleting resources. According to the Food and Agriculture Organization (FAO), food production will need to be increased by 70% between 2005 and 2050 to feed the global population, which is projected to surpass 9 billion over the next three decades. Agrochemicals are set to play a significant role in enabling governments and international organizations to meet the productivity requirements in the farming sector. Robust Chemical Manufacturing Infrastructure in China to Invigorate the Asia Pacific Market • The manufacturing power of China is foreseen to aid the dominance of Asia Pacific in the specialty chemicals market share during the forecast period. The exceptional manufacturing capabilities of China are bolstered by the abundant availability of raw materials in the country and the existence of cheap labor. The Asia Pacific market size was USD 291.2 billion in 2020.
10/20/2021Heat Transfer Fluids Market Price Structure, Industry Share and Forecast to 2027 by Fortune Business Insights™ The global heat transfer fluids market size is projected to reach USD 5,372.24 million by the end of 2027. The increasing demand for concentrated solar power will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Heat Transfer Fluids Market Size, Share & Industry Analysis, By Type (Silicone Fluids, Aromatic Fluids, Mineral Oils, Glycol Based Fluids, and Others), By Application (Oil & Gas, Chemical, Concentrated Solar Power, Food & Beverages, Plastics, Pharmaceutical, HVAC and Others), and Regional Forecast, 2020-2027,” the market was worth USD 3,477.90 million in 2019 and will exhibit a CAGR of 5.78% during the forecast period, 2020-2027. The recent coronavirus outbreak has had an adverse impact on majority of the businesses across the world. Accounting to the strict measures taken by governments of major countries, it has become increasingly difficult to carry out business operations. 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. Heat transfer fluids are widely used in several industry verticals including oil and gas, healthcare, chemicals, pharmaceuticals, and others. These fluids are used to transfer heat over two objects or areas; wherein they cool one side of the process and heat and store on the other side. The presence of several large scale companies with a wider consumer base and excellent product portfolios will open up a huge potential for the growth of the market. The massive investment in the research and development of efficient products will emerge in favor of market growth. The rising demand for concentrated solar power will contribute to the growing adoption for the product across the world. The increasing demand for the product will have a direct impact on the businesses of large scale enterprises as well as SMEs across the world. Increasing Number of Company Mergers Will Emerge in Favor of Market Growth The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. The massive investment put in by major companies for the development of efficient products will bode well for the growth of the market in the coming years. In April 2019, Eastman Chemical announced that it has completed the acquisition of Marlotherm. The company possesses an attractive range of heat transfer fluids and intellectual property. The company also possesses proper formulations and a wider consumer base, in addition to the aforementioned factors. Through this acquisition, the company will look to expand its heat transfer fluids across the world. Eastman’s acquisition of Marlotherm will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years. Browse In-depth Summary of This Research Insight@ https://www.fortunebusinessinsights.com/heat-transfer-fluids-market-105543 North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth
10/20/2021Carbon Fiber Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™ The global carbon fiber tapes market size is expected to reach USD 4,855.6 million by 2027, exhibiting a CAGR of 13.4% during the forecast period. The growing utilization of carbon fiber in various industries due to its high tensile strength and electrical conductivity will spur opportunities for the market, states Fortune Business Insights, in a report, titled “Carbon Fiber Tapes Market Size, Share & Industry Analysis, By Form (Dry Tapes, and Prepreg Tapes), By Resin (Epoxy, Polyamide, Bismaleimide, Thermoplastic, and Others), By End-use (Aerospace & Defense, Automotive, Sports/Leisure, Building & Construction, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 1,918.6 million in 2019. The coronavirus outbreak has affected numerous industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly. The report on carbon fiber tapes market encompasses: • Thorough study of all the segments • Present and Future projections
10/20/2021The global chlor-alkali market size is expected to reach USD 55.39 billion by 2027, exhibiting a CAGR of 2.9% during the forecast period. The growing shift from conventional production technologies to greener production technologies will have an outstanding effect on the global market, states Fortune Business Insights, in a report, titled “ Chlor-Alkali Market Size, Share & Industry Analysis, By Application (Chlorine {Water Treatment, Paper & Pulp, Inorganics, Intermediates, Organics, Vinyl, and Others} and Caustic Soda {Textile, Alumina, Soap & Detergents, Organics, Inorganics, Pulp & Paper, Water Treatment, and others}), and Regional Forecast, 2020-2027.” The market size stood at USD 49.87 billion in 2019. The occurrence of coronavirus has exerted enormous economic stress onto sectors in various countries. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic. We are perpetually working on our reports to help uplift businesses in this crucial time. Our expertise and experience can offer enormous benefits to help regain during this global pandemic. The report on the chlor-alkali market describes: • Prominent understandings of the market
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