The Aluminum industry is forecast to expand at 6.3% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 1,62,187.9 million in 2023. The demand for aluminum is positively influenced by the upsurge in demand for aluminum packaging in the food and pharma sectors. Aluminum foil plays a critical role in the food service and processing industries thanks to its unique properties like flexibility, lightweight, non-toxicity, lightweight, and others. With the increasing consumption of frozen foods, the requirement for aluminum packaging solutions is expected to increase. Geographically, the market can be seen proliferating in developed regions like Europe and North America due to increasing demand for aluminum in the automotive and construction industries. Growing preference for aluminum packaging is also propelling the growth in these regions. Emerging economies of the Asia Pacific are pushing market growth due to significant construction and industrialization activities. Aluminum is used in flat products like electric appliances, cans, packaging, etc., due to its cost-effectiveness, lightweight, and ease of transportation as opposed to other metals. Since aluminum flat plates are available at competitive prices, consumers are motivated to purchase this product. Another set of applications for flat aluminum includes architectural and industrial applications like kitchen equipment, screen door frames, etc. Increasing demand for the aforementioned products is projected to push the consumption rate of aluminum. Request Report Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-301
5/21/2024The Monochlorobenzene Market is forecast to experience a growth of 3.5% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 1,915.1 million in 2023. The monochlorobenzene is also in high demand in the textile industry, which produces pigments and dyes. Monochlorobenzene is deployed to make inks, paint removers, dyes, and pigments that later form the fiber of textile clothing. The accelerated growth of the textile industry worldwide is positively impacting the global market. Trichlorobenzene, a type of monochlorobenzene, finds extensive application in the pharmaceutical industry to combine the intermediates of different medicines, such as vitamin supplements and antibiotics. Authority departments like the United Nations Industrial Development Organization (UNIDO) have taken it upon themselves to invigorate the domestic production of necessary generic drugs in underdeveloped and developing economies like Kenya, Nigeria, and Ethiopia. Research and development procedures for novel drugs to cure prevailing diseases have escalated over the past few years. This is projected to create a noticeable impact on the market development. The chemical further finds use in the production of high-performing polymers. In addition, the huge volume of monochlorobenzene is used as an agrochemical and a solvent for rubber production.
5/20/2024In its latest report, Future Market Insights estimates the global para toluene sulfonic acid market value to total US$ 203.6 million by 2034, up from US$ 130.0 million in 2024. Global PTSA demand is set to increase at 4.5% CAGR during the next decade. Demand remains particularly high for PTSA monohydrate owing to its growing adoption in applications like pharmaceutical production, organic synthetic reactions, and pigment production. The target segment is poised to grow at a CAGR of 3.5% during the forecast period. Multiple factors are stimulating the growth of the PTSA market. These include the growing usage of PTSA in diverse industrial applications and the escalating demand for products like pharmaceuticals, resins, dyes, and pigments globally. Para toluene sulfonic acid is witnessing steady demand as this versatile compound is widely used in diverse industrial processes and applications. For instance, it is often used as a catalyst in various chemical reactions, including condensation, esterification, and polymerization. Increasing adoption of PTSA for manufacturing several organic compounds like resins, pharmaceuticals, and plasticizers is set to boost market growth. Similarly, the growing usage of PTSA as a curing agent in thermosetting resins and coatings to facilitate hardening will uplift its demand.
5/20/2024The global Faux Paints and Coatings market is valued at US$ 2.1 Billion in 2022 and is expected to reach US$ 4.2 Billion by 2032, expanding at a CAGR of 6.3% between 2022 and 2032. According to Future Market Insights, a market research and competitive intelligence provider, global Faux Paints and Coatings consumption has increased at a CAGR of roughly 5.7% over the last half-decade. Demand for material-based adhesives is increasing in public and private applications for superior finishes, and a growing acceptance of authentic synthetic finishes, especially in emerging economies, is anticipated to increase the development of the global artificial finish coatings market over the coming decade. New residential and non-residential developments, particularly in emerging regions, have an impact on the growth of the Faux Paints and Coatings industry. The desire for house décor and painting is projected to fuel demand for fake coatings. Request a Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-14954 Key Takeaways from the Market Study
5/14/2024or
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