Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term. According to the latest report by FMI, the global thionyl chloride market is expected to reach a valuation of US$ 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is characterized by a strong foothold of thionyl chloride manufacturers. The government has enacted large-scale lockdowns, resulting in short-term manufacturing and logistics paralysis. Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4601 “Thionyl chloride plays a vital role in manufacturing pharmaceuticals products. The compound is an industrially-produced liquid used to make acyl chlorides and synthesize pharmaceuticals, including drugs and vitamins. Growth of the pharmaceutical industry has a significant impact on the thionyl chloride market.” Key Takeaways of Thionyl Chloride Market Study
5/2/2024Valued at US$ 4 Billion in 2021, the target market is set to reach an estimated US$ 4.2 Billion by the end of 2022. An upsurge in the consumption of oil as well as other non-renewable energy fuel sources will drive the target market during the forecast period. The global refinery process chemicals industry is anticipated to reach a valuation of US$ 6.2 Billion in 2032, with the market growing at an average CAGR of 4% from 2022 to 2032. Crude oil experiences a series of different complex processes such as reformation, alkylation, cracking, desulfurization, and hydrotreating, among others, to yield a variety of in-demand products that find extensive usage across diverse industry verticals as well as in household purposes. The refining processes of crude oil are complex and include the usage of several chemicals at different steps in order to ensure superior quality of the end products. Owing to high demand and large-scale usage of crude oil, the refinery process chemicals market is likely to witness standard growth in its value during the assessment period. The escalating demand for fuels particularly from the transportation industry spurs the global growth of the target market. This demand is a major growth driver of the refinery process chemicals market. In addition, a rise in demand, worldwide, for petroleum-based goods is another aspect that contributes significantly to the expansion of the global refinery process chemicals market size. Request Report Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-988
4/30/2024In a recent market analysis by Future Market Insights, the global market for Airbag Propellant Chemicals is projected to attain a value of US$ 11,273.1 Million by 2032, showcasing a robust CAGR of 5.4% from 2022 to 2032. This growth is attributed to the surge in demand for safe automobiles, ushering in an era of technological innovations in airbag development. The pivotal role of airbag propellants in enhancing vehicle safety cannot be overstated. These chemicals play a crucial role in inflating airbags precisely when needed, ensuring optimum protection for occupants in the event of a collision. The four primary propellant types—sodium azide, potassium nitrate, ammonium perchlorate, and tetrazoles—offer diverse options for achieving the desired airbag deployment characteristics. One of the key drivers for the rising demand for airbag propellant chemicals is the global increase in automobile production. Developing economies, in particular, are witnessing a surge in the adoption of airbags, contributing significantly to the expanding market. Furthermore, the maritime sector’s growing inclination towards airbag applications in larger ships and smaller boats is poised to be a noteworthy contributor to the market’s growth. Request for Report Sample! https://www.futuremarketinsights.com/reports/sample/rep-gb-1845 The evolution of the automotive industry, marked by urbanization, increased disposable income, and changing lifestyles, is steering the demand for fuel-efficient and technologically advanced vehicles. The global shift towards digitization and electric mobility is reshaping the automotive landscape, with a significant impact on airbag propellant chemicals.
4/29/2024The global phenolic boards market was worth US$ 3.5 Billion in the year 2022 and is expected to reach US$ 5 Billion by the year 2032 at a CAGR of 3.63% between 2022 and 2032. Phenolic panels/compact phenolic panels (better known as phenolic boards) could be referred to as plates comprising a core made up of resin and thermosetting, high-density cellulose fibers. Different materials of several furnishes are used over the compact core. They are inclusive of wood panels, laminates, and likewise. The exclusive coating does give phenolic panels exclusive protection against moisture. They are generally used for manufacturing furniture and various other wooden objects to be used in toilets, bathrooms, and changing rooms. Cabins could be made from phenolic panels for showers, toilets, and likewise. Lockers could be made from phenolic panels for public areas and changing rooms. Countertops could be made from phenolic boards to serve overmounted basins. Benches in changing rooms could be made from phenolic panels. Screens could be made from phenolic panels for the offices (used as room dividers or for isolating work areas). Façade cladding could be done by making use of phenolic boards. Besides, aspects like an appropriate reaction to fire could contribute toward higher sales of phenolic boards. Carpinteria Paco (a division of Spigo Group manufacturing, supplying, and installing woodworking and furniture) makes phenolic panels. Phenolic boards have made a beeline for exterior and interior applications like sports facilities, public buildings, and various other commercial buildings.
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