The global market is anticipated to expand at a CAGR of 6.5% during the forecast period of 2024 to 2032. The adoption of titanium fluoride phosphate (KTiPO4F) in potassium-ion batteries may contribute to enhanced energy performance and stable operation at high discharge currents. In the near future, the market expansion is anticipated to be fuelled by the expansion of the renewable energy industry.
The global market for powder coating equipment is expected to grow at a CAGR of 5.2% during the forecast period of 2024 to 2032. The rising demand for energy-efficient devices as a result of the depletion of non-renewable resources, as well as the rising demand for powder coatings characterized by ease of use, increased flexibility, high quality, and storage performance, are important factors driving market revenue growth.
Pinatex Market is anticipated to develop at a CAGR of 6.5% during the forecast period of 2024 to 2032. As customers become increasingly concerned of the influence that their purchases have on the environment and animal welfare, it is anticipated that the market for Pinatex will expand at a high rate over the course of the forecast period.
The Langasite market is projected to increase at a CAGR of 6.5% during the forecast period of 2024 to 2032. The creation of laser devices, surface acoustic wave (SAW) devices, bulk acoustic wave (BAW) devices, high-efficiency broadband frequency devices, and other types of electronic devices all make extensive use of langasite, which is one of the most common types of radio frequency devices.
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 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.
For companies in the Chemicals industry, Acute Market Reports is the best option for in-depth market research and expert consultancy. Acute Market Reports, through its solutions crafted through a futuristic approach, enables its clients to make well-informed business decisions. Through our partnerships with Fortune 500 organizations, we have been able to demonstrate our expertise by completing customized consulting projects for each client throughout their entire product and service offering.
