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The report "Fluorescent Pigment Market by Formulation (Organic, Inorganic), Characteristic Type, Type, Intensity (High Intensity, Medium Intensity, Low Intensity), Application (Paints & Coatings, Printing Inks), End-Use Industry, & Region - Global Forecast to 2028", size is projected to reach USD 498 million by 2028, at a CAGR of 5.7% from USD 377 million in 2023.
The fluorescent pigment market is driven by several factors, including technological advancements, shifting consumer behaviors, favorable economic conditions, expanding applications in various industries, and growing demand. The increasing use of fluorescent pigments in various end-use industries, such as paints and coatings, printing inks, plastics, cosmetics, textiles, and electronics, is a significant driver for market growth.
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289 – Tables
146 – Figures
310 – Pages
"Organic fluorescent pigment is projected to be the largest formulation of fluorescent pigment, in terms of value, during the forecast period."
Stringent regulations promoting the use of environmentally friendly pigments have fueled the growth of organic fluorescent pigments. Organic fluorescent pigments find extensive use in high-visibility products. They are useful in end-use industries such as paints and coatings, plastics, textiles, and printing inks. These factors, combined with the market's emphasis on safety applications and the overall growth of the high-visibility applications across various industries, have led to the growth of organic fluorescent pigment.
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"Printing inks/Graphics arts is the fastest growing application of the fluorescent pigment, in terms of value."
UV Fluorescent pigments are used in printing inks to create high-visibility products. These pigments are sensitive to light and some chemicals, and they fluoresce when exposed to UV radiation, resulting in bright, neon colors with high brilliance. In the graphic arts market, fluorescent pigments are employed to create eye-catching posters, signs, and displays. The vibrant and intense colors produced by fluorescent pigments under UV light can attract attention and are often used for promotional materials.
"Asia Pacific captures the largest share in the fluorescent pigment market during the forecast period, in terms of value."
Asia Pacific is the largest market for fluorescent pigment due to several factors. The region has the largest consumption of fluorescent pigment, with China, India, South Korea, and Japan being the major contributors. These countries have major industries such as textiles, printing, packaging, and electronics, which use fluorescent pigments in various applications such as inks, coatings, and plastics. The packaging industry in the region is substantial due to the large population and increasing consumer demand. Fluorescent pigments are often used in packaging materials to enhance visual appeal and attract consumer attention.
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Market Players
Mergers, new product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the fluorescent pigment market include Radiant Color NV (Belgium), Luminochem (Hungary), Wanlong Chemical Co., Ltd. (China), Sinloihi Co., Ltd. (Japan), Wuxi Minghui International Trading Co., Ltd. (China), DayGlo Color Corp. (US), Aron Universal Limited (India), Vicome Corp. (China), Hangzhou Aibai Chemical Co., Ltd. (China), Brilliant Group Inc. (US) and others.
Radiant Color NV
Radiant Color is one of the global principal suppliers of high-performance fluorescent pigments and dyes. The company has a special focus on tailor-made solutions. The company’s product line includes fluorescent pigments and dyes, conventional organic and inorganic pigments and pigment concentrates, specialty resin, and functional solutions. The company offers its products to various end-use industries such as paints, paper, textiles, inks, plastics, cosmetics, and dyes. The company produces greener and safer products, which create real added value for customers. The company have agencies in Argentina, Australia, Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Egypt, Finland, France, India, Saudi Arabia, Vietnam, Spain, and others.
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DayGlo Color Corp.
DayGlo Color Corp. is a part of RPM, Inc. It holds the distinction of being the global leader in the production of daylight fluorescent pigments. The company’s product line includes pigments, toners, conventional dispersions, fluorescent dispersions, inks & bases, dyes, paint & coatings. The company serves its products to various markets such as plastics, graphics arts, cosmetics & personal care, packaging, consumer products, food & beverage, safety & security, textiles, and apparels. The company has a strong presence in North America.
The report "Advanced Magnetic Materials Market by Type (Permanent Magnet Materials, Semi-Hard Magnetic Materials, Soft Magnetic Materials), End-Use Industry (Automotive, Electronics, Industrial, Power Generation, Medical), And Region - Global Forecast to 2028", is estimated at USD 24.2 billion in 2023 and is projected to reach USD 38.2 billion by 2028, at a CAGR of 9.5% from 2023 to 2028. This report provides a comprehensive analysis of the industry, including advanced magnetic materials market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth.
The increasing use of advanced magnetic materials in the automotive industry is one of the most significant factors projected to drive the growth of the advanced magnetic materials market.
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214 – Tables
47 – Figures
218 – Pages
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Permanent magnet segment to grow at a significant rate in advanced magnetic materials, in terms of value.
Permanent Magnet is a type of magnetic material which has exceptionally strong magnetic properties. It is also known as a high- performance magnet. This type of magnet retains its magnetic strength even after removal of the external magnetizing force. This magnet exhibits high magnetic flux density, high coercivity, which makes it suitable for various high-end applications such as MRI (Magnetic Resonance Imaging), magnetic separation, renewable energy systems and more.
Automotive industry to be the fastest-growing end-use industry segment in the global advanced magnetic materials market in terms of value.
The use of magnets is most widespread in automotive and hence there is a need of advanced magnetic materials. Magnetic materials have vast applications in the automobile industry. The automobile contains magnetic materials in various parts such as motors, sensors, actuators, and switches. The concerns regarding the fuel economy of vehicles lead the manufacturers to reduce vehicle weight and to increase the combustion efficiency. This has resulted in an elevated use of magnetic materials in automobiles. Magnetic materials are increasingly used in electric motors for various functions such as electric steering, electric braking, electric throttle actuation, auto-clutch, and gearbox actuation. The usage of magnetic materials in the automotive segment is the highest owing to the demand for high-quality materials from the manufacturing & production industries. The demand is estimated to surge in the Asia-Pacific region due to the increasing demand for electric and hybrid vehicles.
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Asia Pacific continuous to be the largest market in the global advanced magnetic materials market in terms of value.
Asia Pacific is expected to be the largest market for advanced magnetic materials. The growth in the Asia-Pacific region is primarily driven by the increasing demand for energy and economic development in the region. The magnetic materials market in Asia-Pacific accounts for greater share owing to the introduction of new products in the magnetic materials industry. North America is the second-largest market for magnetic materials. North America is witnessing stiff competition for magnetic minerals, especially the rare earth minerals; to address the need, the U.S. imports rare earth minerals from Asian countries, such as China and Japan. The rapid industrialization in the region coupled with the increased demand for technological advancements and economic recovery is driving this market. China is one of the largest markets for magnetic materials due to huge production of minerals with processing capabilities. China owns the highest reserves of rare earth minerals across the world. The demand for magnetic materials is expected to surge from Thailand, Vietnam, Malaysia, South Korea, and Indonesia on account of significant production and utilization of magnetic materials in the nations. This has given an opportunity to the multinational companies, such as Hitachi Metals Ltd (Japan), Daido Steel Co., Ltd (Japan), Shin-Etsu Chemical Co Ltd (Japan), and TDK Corporation (Japan) to sell magnetic materials.
Some of the key players in the global advanced magnetic materials market are such as Hitachi Metals Ltd. (Japan), TDK Corporation (Japan), Daido Steel Ltd. (Japan), Shin-Etsu Chemical Co. Ltd. (Japan), Arnold magnetic Technologies (US), Anhui Sinomag Technology Co. Ltd. (China), Neo (Canada), Ningbo Yunsheng Co. Ltd. (China), Vacuumschmelze GmbH & Co. KG (Germany).
Hitachi Metals Ltd. (Japan)
Hitachi Metals, Ltd. now known as Proterial, Ltd. is engaged in manufacturing and sale of various metal products, components, and materials. The company operates through three segments namely, Advanced Metals, Advanced Components & Materials, and Others. The company provides high performance materials through nine business units: Specialty Steel, Rolls, Automotive Casting, Waupaca, Piping Components, Magnetic Materials, Power Electronics Materials, Electric Wire & Cable, and Automotive Components. The company specializes in the production of magnetic materials and serves various industries including automotive, consumer electronics, and industrial machinery.
Hitachi Metals, Ltd. has a geographic footprint in North America, Europe, Asia Pacific, and others. The company generates major parts of its revenue from Asia Pacific region. Some of the competitors of the company are TDK Corporation, Daido Steel, and others.
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TDK Corporation (Japan)
TDK Corporation is one of the leading electronic components manufacturers. The company specializes in magnetic application products, including ferrite cores, magnets, and sensors. The company operates through five segments: passive components segment, sensor application products segment, magnetic application products segment, energy application products segment, and others. The company serves automotive, energy, telecommunications, power supplies, industrial, and electronics. The company has a global presence with subsidiaries, sales offices, and manufacturing facilities located in key regions across Asia, the Americas, Europe, and Middle East & Africa. This extensive network allows TDK to efficiently serve its customers worldwide and meet their specific requirements.
Daido Steel Co. Ltd. (Japan)
Daido Steel Co., Ltd. is a Japanese multinational corporation that operates in the fields of steel manufacturing, high-performance materials, and magnetic materials. The company operates through five segments: specialty steel, high-performance materials & magnetic materials, parts for automobile & industrial equipment, engineering, and trading & service. The company serves automotive, industrial, energy and infrastructure, aerospace & defense. The company has a presence in Europe, North America, and Europe.
The report "3D Printing Plastics Market by Type (Photopolymer, ABS, Polyamide, PLA, PETG), Form, Application (Prototyping, Manufacturing, Tooling), End-Use Industry (Healthcare, Aerospace & Defense, Automotive, Consumer Goods), and Region- Global Forecast to 2028", is estimated at USD 1.7 billion in 2023 and is projected to reach USD 4.4 billion by 2028, at a CAGR of 22.0% from 2023 to 2028. This report provides a comprehensive analysis of the Digital Risk Protection Platform market, including market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth.
The growth of the 3D printing plastics market is being driven by a number of factors, including the increasing demand for lightweight and fuel-efficient materials in the aerospace industry, growing industrialization and rising disposable income in developing economies have contributed to the growth of the automotive industry and, in turn, the demand for 3D printing plastics. Increased supply of 3D printing plastics due to forward integration of key polymer companies. Several governments globally support adopting 3D plastic printing in various industries.
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356 – Tables
63 – Figures
307 – Pages
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PLA type segment is expected to grow with second highest CAGR in 3D printing plastics market during the forecasted period.
The 3D printing plastics market is segmented based on the types into photopolymer, ABS, polyamide, PLA, PETG, Others. Polylactic Acid (PLA) is a type of plastic commonly used in 3D printing. It is derived from natural products like sugar cane and corn starch, making it biodegradable and eco-friendly. PLA is available in both soft and hard forms, allowing for the creation of a wide range of products. It is known for its reliability, quality, and vibrant colors, and it is one of the most popular and affordable 3D printing materials. PLA is easy to work with, available in a variety of colors, and can be used as either a resin or filament. The photopolymer segment dominated the overall 3D printing plastics market in 2022, owing to its exceptional properties and wide acceptance in end-use industries such as aerospace & defense, automotive industry.
Liquid form to be the second fastest-growing segment in the global 3D printing plastics market in terms of value and volume
The liquid segment is projected to register the second highest CAGR, both terms of value and volume, during a forecast period. The increasing demand for 3D printing materials and plastics in the powder form is due to the rise in demand from the aerospace & defense, automotive, and healthcare industries.
Tooling application is expected to grow with the second highest CAGR, both in terms of value and volume during the forecast period
The tooling segment is expected to be the second fastest-growing application of the global 3D printing plastics market. Tooling applications in 3D printing plastics involve the use of 3D printed rapid tooling to support traditional manufacturing processes such as injection molding, vacuum forming, or silicone molding. This allows for the production of limited silicones and composites, with a flexible, agile, scalable, and cost-efficient tooling process. 3D printed tools can support the low volume fabrication of parts in various materials, including plastics, and enable the production of thermoplastics parts cost-effectively in-house.
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Healthcare to be the second fastest-growing end-use industry in the global 3D printing plastics market in terms of value and volume
3D printing plastics in the healthcare industry has gained significant attention due to its potential for creating customized, high-quality medical devices. 3D printing allows for the creation of customized prosthetic limbs that can be tailored to the specific needs of individual patients. This can improve the comfort and functionality of the prosthetics, leading to better patient outcomes. 3D printing used to create biocompatible implants, such as dental implants or orthopedic implants, that can be customized to fit the specific needs of individual patients. This can improve the success rate of the implants and reduce the risk of complications. The use of 3D printing in the healthcare industry has the potential to revolutionize the way medical devices are designed, manufactured, and delivered. It offers a cost-effective, efficient, and customizable solution for creating high-quality medical devices that can improve patient outcomes and reduce healthcare costs.
Asia Pacific region is expected to be registered second highest CAGR in terms of value during forecasted period
The 3D printing plastics market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The Asia Pacific 3D printing plastics market is experiencing explosive growth, fueled by a potent mix of factors. Soaring demand from industries like aerospace, automotive, and wind energy is at the forefront, with China leading the charge. China, the world's one of the largest 3D printing plastics producer and consumer, is driving the market with its booming domestic aircraft and electric vehicle production. This insatiable demand for lightweight and fuel-efficient materials is propelling the region's 3D printing plastics market to new heights. Countries like Japan and South Korea, with their established automotive and electronics industries, are also contributing significantly to the regional market growth. Their focus on technological advancements and sustainability goals aligns perfectly with the advantages of 3D printing plastics, ensuring continued demand in the years to come.
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Market Players
Some of the key players in the global 3D printing plastics market 3D Systems Corporation (US), Arkema (France), BASF SE (Germany), Stratasys, Ltd. (US), Solvay (Belgium), Shenzhen eSUN Industrial Co., Ltd. (China), Evonik Industries AG (Germany), EOS (Germany), Formlabs (US), SABIC (Saudi Arabia), CRP TECHNOLOGY S.r.l. (Italy), Henkel AG & Co. KGaA (Germany), Huntsman International LLC (US), Ensinger (Germany), and Zortrax (Poland) among others.
The Report "Extruded Polystyrene Market by Application (Foundation, Roof, Wall, Floor & Ceiling), End-use Industry (Residential, Commercial), and Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Global Forecast to 2028", size was USD 5.6 billion in 2023 to USD 6.9 billion by 2028, at a CAGR of 4.3% from 2023 to 2028. This report provides a comprehensive analysis of the industry, including extruded polystyrene market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth.
Extruded polystyrene is a renowned rigid foam insulation in the building and construction industry. Extruded polystyrene is well-known for having excellent thermal insulation qualities, moisture resistance, and compressive strength. As a result, it is used for a variety of purposes, such as foundation, wall, and roof insulation. Extruded polystyrene is in high demand due to rising urban living standards and a greater emphasis on sustainable construction techniques. Extruded polystyrene is used in various industries such as residential, commercial, and others (roads, highways, railways, and runways).
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287 – Tables
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244 – Pages
"Foundation segment is estimated to be the largest application in extruded polystyrene market in 2022, in terms of value."
The extruded polystyrene market is projected to be experiencing significant growth in the forecasted period. The foundation segment is estimated to be the fastest-growing segment in the extruded polystyrene market due to its exceptional compressive strength, moisture resistance, and thermal insulation qualities. As sustainability becomes a key component of both consumer preferences and business goals, the foundation segment is anticipated to maintain its growth trajectory. The significance of extruded polystyrene in the foundation market is anticipated to endure and increase if the construction sector emphasizes eco-friendly and energy-efficient building solutions.
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"Residential segment is estimated to be the fastest-growing end-use industry for extruded polystyrene market during the forecast period 2023 to 2028."
The residential segment is estimated to be the largest application in the extruded polystyrene market in the forecasted year due to several factors. The dominance of the residential segment in the extruded polystyrene market is driven by a combination of increased consumer demand, environmental sustainability, and other factors. Extruded polystyrene insulation is frequently utilized in residential buildings to help minimize heat loss and maintain appropriate indoor temperatures. Furthermore, the expanding global population and rapid urbanization trends are vital factors propelling the growth of the extruded polystyrene market.
"Europe was the largest region for the extruded polystyrene market in 2022, in terms of value."
The European region's prominence as the largest market for extruded polystyrene can be attributed to a convergence of economic, industrial, and cultural factors. The market dominance of Europe in the extruded polystyrene market can be attributed to the existence of key players who have made a solid regional footprint. These players, with their vast R&D departments, strong distribution networks, and strategic collaborations, have been essential in propelling the adoption of extruded polystyrene. This combination of economic growth, industrial competence, and consumer preferences has firmly established Europe as the largest market for extruded polystyrene.
Market Players
The key players identified in the extruded polystyrene market report are Kingspan Group PLC (Ireland), Owens Corning (US), BASF SE (Germany), Synthos S.A. (Poland), Ravago S.A. (Belgium), Saint-Gobain (France), Dupont de Nemours, Inc. (US), Dow Inc. (US), Kaneka Corporation (Japan), and Supreme Petrochem Ltd. (India) and others.
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Kingspan Group PLC
Kingspan Group PLC is a multinational company known for its diverse range of products. The company has a strong presence in the extruded polystyrene market. The company serves various end-use industries such as residential, commercial, and others. The company is renowned for its creativity and commitment to research and development. For instance, in January 2021, Kingspan Group PLC launched GreenGuard XPS LG to assist customers in meeting their sustainability objectives in the construction industry with a lower GWP impact. The company's growth is accelerated through this product launch, which also adds complementary technology to reinforce its leadership position and develop infinite possibilities in the extruded polystyrene market.
Owens Corning
Owens Corning is a key player in the extruded polystyrene market, known for producing and supplying extruded polystyrene materials for various uses. One of the top manufacturers of extruded polystyrene, Owens Corning, the company’s commitment to innovation, sustainability, and product quality positions them as a leading contributor to the extruded polystyrene market's growth and development. The company is focused on expanding its extruded polystyrene segment to satisfy consumer demand.
According to the new market research report "White Inorganic Pigments Market by Product Type (Aluminum Silicate, Calcium Silicate, Calcium Carbonate, Silica, Titanium Dioxide, Zinc Oxide), Application and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026", published by MarketsandMarkets™, the global market size is estimated at USD 22.7 billion in 2021 and is projected to reach USD 29.5 billion by 2026, at a CAGR of 5.4%, between 2021 and 2026. Growth in the white inorganic pigments market can primarily be attributed to the growing involvement of white inorganic pigments in the paints & coatings, adhesives & sealants, plastics, cosmetics, paper, inks, among others. There is a continual demand from the construction, automotive and personal care industry as it helps in attaining high light scattering power, a high degree of hiding power, good tinting strength, a high degree of brightness, a negligible undertone (ideally none), and a high degree of whiteness are all required from white inorganic pigments. These are the key factors driving the demand for white inorganic pigments during the forecast period.
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208 – Tables
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218 – Pages
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Titanium dioxide is the largest product type segment of the white inorganic pigments market
On the basis of product type, the market is segmented into aluminium silicate, calcium silicate, calcium carbonate, silica, titanium dioxide, zinc oxide, and others. The titanium dioxide segment led the product type segment of the market in terms of both value and volume. Titanium dioxide is the most prominent member of the group. Paints with white extender pigments are used to cut costs and improve the qualities of the paint.
Paints & coatings is the largest application segment of the white inorganic pigments market
On the basis of application, the market is segmented into paints & coatings, adhesives & sealants, plastics, cosmetics, paper, inks, and others. The paints & coatings application segment led the market in terms of both value and volume. Paints with white extender pigments are used to cut costs and improve the qualities of the paint. White inorganic pigments, often known as hidden pigments, are pigments that give light scattering qualities to coatings. Because of their relatively high refractive index, they scatter all wavelengths of light, making them seem white to the human eye.
Asia Pacific is the largest market for white inorganic pigments market
The Asia Pacific region is projected to be the largest market, in terms of value. Asia Pacific is also expected to grow at the highest CAGR during the forecast period. Growth in APAC is backed by the efficient demand and supply cycle of the paints & coatings, adhesives & sealants, plastics, cosmetics, paper, inks industry majorly in countries like China, India, and Japan among others. A significant bounce back is expected from the construction and automotive industry and this will drive the market in the area. APAC is also an industrial hub with a significantly large market size. Other factors, such as the increasing consumer goods demand, innovation in electronics and other sectors, etc., are expected to support the growth of this regional market during the forecast period.
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White Inorganic Pigments Market Key Players
Venator Materials PLC (UK), The Chemours Company (US), Tronox Holdings plc (US), LANXESS (Germany), and KRONOS Worldwide, Inc. (US) are key players in white inorganic pigments market.
Venator Materials PLC, the pigment division of Huntsman, has separated from its parent company in 2017 and become an independent specialist in TiO2 and performance additives. The major product lines of the company include TiO2, functional additives, color pigments, timber treatment, and water treatment products. It operates through 21 manufacturing facilities worldwide and serves customers in more than 120 countries. The company provides TiO2 pigments through the Titanium Dioxide segment and color pigments through the Performance Additives segment. These pigments are used in a variety of end markets, including construction materials, industrial coatings, architectural coatings, plastics, paper, and printing inks. It offers both anatase and rutile pigments through its TiO2 manufacturing business units. It is a member of Titanium Dioxide Manufacturers Association (TDMA).
The Chemours Company is one of the world’s leading providers of performance chemicals. The company started its independent operations in July 2015 after its spin-off from E. I. du Pont de Nemossurs and Company. It operates through three business segments, namely, titanium technologies, fluoroproducts, and chemical solutions. The company’s products serve various industries and applications such as automotive, energy, aerospace, agriculture, apparel, medical, consumer electronics, military, packaging, personal care, refrigeration, architectural coatings, and mining. It offers Ti-Pure TS-6300 for paints. It is an innovative product which can cover in one coat. It operates through 30 manufacturing sites and serves approximately 3,300 customers in approximately 120 countries. The company has 9 standalone labs across major regions of the world.
The biodegradable films market is projected to grow from USD 1.0 billion in 2021 to USD 1.4 billion by 2026, at a CAGR of 7.2% from 2021 to 2026. This report provides a comprehensive analysis of the industry, including biodegradable films market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth. The major reasons for the growth of the biodegradable films market include growing awareness regarding plastic waste and its adverse impact on the environment. Some of the other driving factor for the biodegradable films market growth include, growing demand from the food packaging industry, high demand from the agriculture & horticulture sector.
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Companies such as BASF SE (Germany), Futamura Chemical Co. Ltd. (Japan), Taghleef Industries (UAE), Walki Group Oy (Finland), Kingfa Sci. & Tech. Co., Ltd. (China), BioBag Americas, Inc. (US), Avery Dennison Corporation (US), Plascon Group (US), Bi-Ax International Inc. (Canada), Cortec Corporation (US), Clondalkin Group (Netherlands), TRIOWORLD INDUSTRIER AB (Sweden), Groupe Barbier (France), Paco Label (US), Layfield Group (Canada), and Polystar Plastics Ltd. (UK) fall under the winners’ category. These are leading players in the biodegradable films market, globally are some of the leading players operating in the biodegradable films market. These players have adopted the strategies of acquisitions, new product launches, collaborations, expansions, partnerships, and contracts to increase their presence in the global market.
BASF SE is the leading player in the global biodegradable films market and is estimated to have the highest share in the market. In May 2019, BASF SE entered into an exclusive contract with Lactips (France) to market a water-soluble, 100% bio-based, and fully biodegradable film manufactured by Lactips. This biodegradable film is manufactured from natural ingredients and is applicable for home care, industrial, and institutional markets. Under this contract, BASF SE will use its expertise in network and supply chain to market the product. The contract supports BASF SE’s strategy to leverage sustainable solutions to drive business growth.
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The another important player in the global biodegradable films market is Futamura Chemical Co. Ltd. In October 2019, Futamura Chemical Co. Ltd. launched a new compostable film, NatureFlex 30NVO. This new product is made from renewable wood pulp and is said to be the first certified compostable, heat-sealable film in the biodegradable films market. The product offers the heat resistance required for conventional and microwave ovens. This new product launch helped Futamura Chemical Co. Ltd. widen the market scope of its biodegradable film’s product portfolio.
By type, PLA is estimated to be the leading segment of biodegradable films from 2021 to 2026.
By type, PLA is estimated to have the largest share of the biodegradable films market, in terms of value, in 2020 due to the ease of availability of raw materials for manufacturing PLA. It is also the fastest-growing market, which is projected to register the highest CAGR in terms of volume during the forecast period. Biodegradable polyester is the second-largest segment of the market, in terms of volume during the forecast period.
By application, food packaging to be the largest and the fastest-growing segment of biodegradable films
By application, the biodegradable films market in the food packaging segment is estimated to account for the largest share in 2020 due to the increased use of biodegradable films for manufacturing single-use compostable packaging materials, including carry bags, food packaging boxes, and laminating films. Food packaging is also the fastest-growing application of biodegradable films. The market in the cosmetic & personal packaging application is also projected to register the second-fastest CAGR in terms of value during the forecast period.
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Europe is estimated to be the largest biodegradable films market during the forecast period
Europe is the largest market for biodegradable films. North America is emerging as a major consumer of biodegradable films due to the increasing demand from the packaging & bags and consumer goods industries. Asia Pacific was the third-largest biodegradable films market. It is the fastest-growing markets, in terms of biodegradable films production, conversion, and consumption. Factors such as rising environmental degradation, improving environment-related government policies, and an increase in the number of applications are some of the major drivers responsible for the biodegradable films market in Asia Pacific.
The biodegradable films market is projected to grow from USD 1.0 billion in 2021 to USD 1.4 billion by 2026, at a CAGR of 7.2% from 2021 to 2026. This report provides a comprehensive analysis of the industry, including biodegradable films market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth. The major reasons for the growth of the biodegradable films market include growing awareness regarding plastic waste and its adverse impact on the environment. Some of the other driving factor for the biodegradable films market growth include, growing demand from the food packaging industry, high demand from the agriculture & horticulture sector.
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Companies such as BASF SE (Germany), Futamura Chemical Co. Ltd. (Japan), Taghleef Industries (UAE), Walki Group Oy (Finland), Kingfa Sci. & Tech. Co., Ltd. (China), BioBag Americas, Inc. (US), Avery Dennison Corporation (US), Plascon Group (US), Bi-Ax International Inc. (Canada), Cortec Corporation (US), Clondalkin Group (Netherlands), TRIOWORLD INDUSTRIER AB (Sweden), Groupe Barbier (France), Paco Label (US), Layfield Group (Canada), and Polystar Plastics Ltd. (UK) fall under the winners’ category. These are leading players in the biodegradable films market, globally are some of the leading players operating in the biodegradable films market. These players have adopted the strategies of acquisitions, new product launches, collaborations, expansions, partnerships, and contracts to increase their presence in the global market.
BASF SE is the leading player in the global biodegradable films market and is estimated to have the highest share in the market. In May 2019, BASF SE entered into an exclusive contract with Lactips (France) to market a water-soluble, 100% bio-based, and fully biodegradable film manufactured by Lactips. This biodegradable film is manufactured from natural ingredients and is applicable for home care, industrial, and institutional markets. Under this contract, BASF SE will use its expertise in network and supply chain to market the product. The contract supports BASF SE’s strategy to leverage sustainable solutions to drive business growth.
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The another important player in the global biodegradable films market is Futamura Chemical Co. Ltd. In October 2019, Futamura Chemical Co. Ltd. launched a new compostable film, NatureFlex 30NVO. This new product is made from renewable wood pulp and is said to be the first certified compostable, heat-sealable film in the biodegradable films market. The product offers the heat resistance required for conventional and microwave ovens. This new product launch helped Futamura Chemical Co. Ltd. widen the market scope of its biodegradable film’s product portfolio.
By type, PLA is estimated to be the leading segment of biodegradable films from 2021 to 2026.
By type, PLA is estimated to have the largest share of the biodegradable films market, in terms of value, in 2020 due to the ease of availability of raw materials for manufacturing PLA. It is also the fastest-growing market, which is projected to register the highest CAGR in terms of volume during the forecast period. Biodegradable polyester is the second-largest segment of the market, in terms of volume during the forecast period.
By application, food packaging to be the largest and the fastest-growing segment of biodegradable films
By application, the biodegradable films market in the food packaging segment is estimated to account for the largest share in 2020 due to the increased use of biodegradable films for manufacturing single-use compostable packaging materials, including carry bags, food packaging boxes, and laminating films. Food packaging is also the fastest-growing application of biodegradable films. The market in the cosmetic & personal packaging application is also projected to register the second-fastest CAGR in terms of value during the forecast period.
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Europe is estimated to be the largest biodegradable films market during the forecast period
Europe is the largest market for biodegradable films. North America is emerging as a major consumer of biodegradable films due to the increasing demand from the packaging & bags and consumer goods industries. Asia Pacific was the third-largest biodegradable films market. It is the fastest-growing markets, in terms of biodegradable films production, conversion, and consumption. Factors such as rising environmental degradation, improving environment-related government policies, and an increase in the number of applications are some of the major drivers responsible for the biodegradable films market in Asia Pacific.
The biodegradable films market is projected to grow from USD 1.0 billion in 2021 to USD 1.4 billion by 2026, at a CAGR of 7.2% from 2021 to 2026. This report provides a comprehensive analysis of the industry, including biodegradable films market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth. The major reasons for the growth of the biodegradable films market include growing awareness regarding plastic waste and its adverse impact on the environment. Some of the other driving factor for the biodegradable films market growth include, growing demand from the food packaging industry, high demand from the agriculture & horticulture sector.
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Companies such as BASF SE (Germany), Futamura Chemical Co. Ltd. (Japan), Taghleef Industries (UAE), Walki Group Oy (Finland), Kingfa Sci. & Tech. Co., Ltd. (China), BioBag Americas, Inc. (US), Avery Dennison Corporation (US), Plascon Group (US), Bi-Ax International Inc. (Canada), Cortec Corporation (US), Clondalkin Group (Netherlands), TRIOWORLD INDUSTRIER AB (Sweden), Groupe Barbier (France), Paco Label (US), Layfield Group (Canada), and Polystar Plastics Ltd. (UK) fall under the winners’ category. These are leading players in the biodegradable films market, globally are some of the leading players operating in the biodegradable films market. These players have adopted the strategies of acquisitions, new product launches, collaborations, expansions, partnerships, and contracts to increase their presence in the global market.
BASF SE is the leading player in the global biodegradable films market and is estimated to have the highest share in the market. In May 2019, BASF SE entered into an exclusive contract with Lactips (France) to market a water-soluble, 100% bio-based, and fully biodegradable film manufactured by Lactips. This biodegradable film is manufactured from natural ingredients and is applicable for home care, industrial, and institutional markets. Under this contract, BASF SE will use its expertise in network and supply chain to market the product. The contract supports BASF SE’s strategy to leverage sustainable solutions to drive business growth.
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The another important player in the global biodegradable films market is Futamura Chemical Co. Ltd. In October 2019, Futamura Chemical Co. Ltd. launched a new compostable film, NatureFlex 30NVO. This new product is made from renewable wood pulp and is said to be the first certified compostable, heat-sealable film in the biodegradable films market. The product offers the heat resistance required for conventional and microwave ovens. This new product launch helped Futamura Chemical Co. Ltd. widen the market scope of its biodegradable film’s product portfolio.
By type, PLA is estimated to be the leading segment of biodegradable films from 2021 to 2026.
By type, PLA is estimated to have the largest share of the biodegradable films market, in terms of value, in 2020 due to the ease of availability of raw materials for manufacturing PLA. It is also the fastest-growing market, which is projected to register the highest CAGR in terms of volume during the forecast period. Biodegradable polyester is the second-largest segment of the market, in terms of volume during the forecast period.
By application, food packaging to be the largest and the fastest-growing segment of biodegradable films
By application, the biodegradable films market in the food packaging segment is estimated to account for the largest share in 2020 due to the increased use of biodegradable films for manufacturing single-use compostable packaging materials, including carry bags, food packaging boxes, and laminating films. Food packaging is also the fastest-growing application of biodegradable films. The market in the cosmetic & personal packaging application is also projected to register the second-fastest CAGR in terms of value during the forecast period.
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Europe is estimated to be the largest biodegradable films market during the forecast period
Europe is the largest market for biodegradable films. North America is emerging as a major consumer of biodegradable films due to the increasing demand from the packaging & bags and consumer goods industries. Asia Pacific was the third-largest biodegradable films market. It is the fastest-growing markets, in terms of biodegradable films production, conversion, and consumption. Factors such as rising environmental degradation, improving environment-related government policies, and an increase in the number of applications are some of the major drivers responsible for the biodegradable films market in Asia Pacific.
The global UD tapes market size is projected to grow from USD 194 million in 2021 to USD 332 million by 2026, at a CAGR of 11.4% during the forecast period. This report provides a comprehensive analysis of the industry, including UD tapes market size, share, trends, drivers and constraints, Competitive Aspects, and prospects for future growth. The growing demand for UD tapes from end-use industries, such as aerospace & defense, automotive, and sports & leisure, is driving the UD tapes market. This demand has encouraged many companies to adopt various developmental strategies in the UD tapes industry to increase their presence in the market. The growth strategies, such as new product launch and merger & acquisition, were adopted by the players to increase their foothold and maintain sustained growth in the UD tapes market.
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UD tapes are mainly used in aerospace & defense, automotive, and sports & leisure industries. In these industries, UD tapes are mainly used for localized reinforcements, lap joining, sleeve winding, repairs, and seam taping purposes. They provide superior properties, such as high tensile strength, high abrasion resistance, wear resistance, high modulus, high strength, high stiffness, low density, chemical resistance, and low creep.
The market for UD tapes in North America is projected to witness the highest growth during the forecast period due to the rising demand from the US and Canada. This is due to the growth in end-use industries, such as aerospace & defense, automotive, and sports & leisure in these countries. For instance, the aerospace industry is the major consumer of UD tapes in the region. UD tapes are mainly used in wing spars, wing skins, fuselage skin, access panels, rib stiffeners, brackets, conduit, and flooring. Carbon fiber slit tapes are used in aircraft seat frames.
The key players in the UD tapes market are Evonik Industries (Germany), SABIC (Saudi Arabia), Toray Industries (Japan), Hexcel Corporation (US), SGL Group (Germany), and Teijin Limited (Japan). They have adopted various developmental strategies such as acquisitions, new product launches, and agreements to increase share in the market.
Evonik Industries is a key player in the UD tapes market. The company has a strong geographic presence across the globe and a strong segment revenue. It has expertise in specialty chemicals. The company is active in more than 100 countries around the world. It is efficient in providing quality UD tapes. The products are capable of holding firmly and reliably against all the forces with low water absorption, and impressive mechanical properties. Thus, the company’s disruptive innovation in the field of UD tape has helped it sustain itself in the market.
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In February 2017, Evonik Industries developed endless fiber-reinforced UD tapes with thermoplastic matrices to the marketable stage. It is now distributing them under the VESTAPE brand. It is manufacturing both glass and carbon fiber tapes using polyamide 12 and specialty high-temperature polyamides.
SABIC is a prominent market player in the market. The company manufactures UD tapes under the brand, UDMAXT. It is highly focused on manufacturing high-quality UD tapes. This has helped SABIC cater to the increasing demand for UD tapes in various end-use industries. The company is also focused on product innovation.
In March 2018, SABIC introduced UDMAX GPE 46–70 tape expanding portfolio of UDMAX UD fiber-reinforced thermoplastic composite tape products. UDMAX GPE 46–70 tapes provide increased mechanical performance while reducing weight. They also help in improving corrosion resistance in the most severe environments.
The thermoplastic resin segment is estimated to account for the largest share of the UD tapes market, by resin, during the forecast period.
The thermoplastic resin segment accounts for the larger share of the overall UD tapes market. These tapes are used in a large number of industries, including aerospace & defense, automotive, and sporting goods. They are widely used in the aerospace & defense industry due to their toughness, high strength, moisture absorption resistance, high-performance properties, and ability to survive under high-temperature conditions.
The glass fiber segment is estimated to account for the largest share of the UD tapes market, by fiber, during the forecast period.
Glass fiber dominates the global UD tapes market owing to its ease of processing and manufacturing as compared to carbon fiber, which is very difficult to process. Glass fiber-based UD tapes are used in a number of industries such as automotive, industrial engineering, and high-performance sports equipment. They are produced in large volumes for structural components of automobiles and for applications in sports and aerospace & defense industries.
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The aerospace & defense segment is estimated to be the largest end-use industry in the UD tapes market during the forecast period.
The aerospace & defense industry dominates the UD tapes market due to the increasing demand for lightweight aircraft from Boeing and Airbus aircraft. This increase in demand is mainly due to the superior properties of UD tapes, which help reduce the overall weight of airplanes and provide corrosion resistance, high strength, and high abrasion. UD tapes are extensively used for repairing aircraft wings and for rapidly building part thickness in aircraft. The entry of new aircraft manufacturers, such as Comac (China) and United Aircraft Corporation (Russia), is expected to boost the demand for UD tapes during the forecast period.
UD tapes market in North America is expected to register the highest CAGR during the forecast period.
North America is also the fastest-growing market and is projected to register the highest CAGR during the forecast period, owing to the increasing demand from end-use industries such as aerospace & defense, automotive, and sports & leisure. The useful properties offered by UD tapes, such as high strength, stiffness, and width tolerance, and high rigidity, make it an ideal material for use as reinforcement in the mentioned end-use industries.
Leading global companies are shifting their production facilities, establishing sales offices, and expanding their distribution channel to regions, such as China, India, and Southeast Asia, to ensure sustainable demand and increase their market share. The gradual shift of manufacturing facilities to countries having high demand and lower production cost is positively influencing the market growth.
The ink resins market is projected to grow from USD 3.3 billion in 2021 to USD 3.8 billion by 2026, at a CAGR of 3.4% between 2021 and 2026. Key highlights of the report include insights into ink resins market size, CAGR, major contributors to the market's growth, and future potential. The report presents a high-quality, truthful, and comprehensive research study to provide Top Key players with valuable insights for making strategic business decisions. Increasing environmental protection standards for the printing ink industry, growth of packaging and energy curable inks industries, increasing demand for UV-cured inks, and new resin technologies are the key factors contributing to the growth of the ink resins market. However, increasing demand for e-books, stringent environmental regulations against VOC, and price rise of ink resin feedstock hinder market growth. The major opportunities in the ink resins market are in emerging markets such as India, China, Brazil, and Mexico. The printing industry in Asia Pacific, South America, and the Middle East & Africa is expected to have a good growth rate during the forecast period. Simultaneously, increasing environmental protection standards are expected to have a positive demand due to their environmental benefits.
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The key market players are Lawter (US), BASF SE (Germany), Covestro AG (Germany), The Dow Chemical Company (US), Evonik Industries AG (Germany), Kraton Corporation (US), Arakawa Chemical Industries, Ltd. (Japan), Hydrite Chemical Co. (US), Indulor Chemie GmbH (Germany), and IGM Resins (Netherlands). These players have adopted various strategies, such as acquisition, expansion, agreement and research & development to grow in the market. Agreement was the key strategy adopted by the major players between 2017 and 2021. This strategy strengthened their market position and increased their presence in emerging economies.
BASF SE has 11 divisions that are aggregated into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions, based on its business models. Ink resins are offered under the Industrial Solutions segment. In April 2021, Azelis made public its new distribution agreement with BASF, effective immediately, for the dispersions, additives, and resins ranges in Australia & New Zealand (ANZ). The products subject to the agreement are commonly used in coatings, adhesives, sealants, and elastomers (CASE), and construction applications.
The Dow Chemical Company is headquartered in Michigan, US, and operates 106 manufacturing sites in 31 countries globally with approximately 35,700 employees working in three main segments: Packaging and Specialty Plastics, Industrial Intermediates and Infrastructure, and Performance Materials and Coatings. Ink resins are offered under the Performance Materials and Coatings segment. The company’s manufacturing, processing, marketing, and R&D facilities, as well as regional purchasing offices and distribution centers, are spread across the world.
The modified rosin resin type to be the largest of ink resins market.
Resin is expected to be the largest ink resin type segment. The modified rosin is a natural resin obtained from pine trees and is regarded as an inexpensive resin. Its price has risen slightly over the last decade; however, there has been little decline in its use. It is ecologically sound to produce rosin from living sources, as opposed to fossil sources and tree stumps, making gum rosin a regenerative starting material for printing ink resins. Rosin has been used in alcohol-based lacquers, in combination with mineral oils for applications such as comic publication and newspaper inks.
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The UV-curable-based technology to witness the fastest growth of ink resins market.
The use of UV-curable inks in the US in the packaging market continues to increase, especially with the introduction of low migration inks that support current global and regional regulations. Key advantages of UV-cured inks are solvent-free inks resulting in lower insurance, high level of product resistance, ease of usage, and flexibility to accommodate various sizes and variety of print jobs. Solvent-based inks continue to be the largest technology segment. The main resin used is low viscosity nitrocellulose (NC), which is featured in more than 70% of all solvent-based liquid inks. Liquid media, based on NC, disperse pigment reasonably well, have a good balance between viscosity and solids content, have low odor, print well, and are compatible with a large number of media based on other polymers.
The gravure printing process to be largest of ink resins market.
Gravure and flexographic printing processes continue to replace lithographic inks in several applications with the growing packaging segment. The digital printing process is rapidly gaining market share owing to the shift from ink media to electronic media in the publication sector. Other printing processes such as letterpress have become obsolete and are losing market share to the flexographic and gravure processes.
The printing & publication to be the largest application of ink resins market.
There is a high potential for demand growth of ink resins from the flexible packaging and corrugated cardboard & cartons segments during 2021-2026 due to improved living standard in developing countries and increased demand for food security.
The demand for resins from the printing & publication segment is declining due to the shift toward the digital media and the Internet in addition to the decline in demand from the newspaper and magazine industry.
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APAC is the largest ink resins market in the forecast period.
APAC is projected to lead the ink resins market and this dominance is expected to continue till 2026. APAC encompasses a diverse range of economies with different levels of economic development. The growth of the region is mainly attributed to the high economic growth rate coupled with heavy investments across industries such as printing & publication, flexible packaging, corrugated cardboards & cartons. The key players of the ink resins market are expanding their production capacities in APAC, especially in China and India. The advantages of shifting production to APAC are the low cost of production, availability of skilled and cheap labor, and the ability to serve the local emerging market in a better manner.