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Phenolic Panel Market research report includes market size, share, drivers, trends and challenges, by end user, and growth rate during the forecast period. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Phenolic Panel market. The report includes the market analysis by Type (Sandwich, Plain), Class, End-Use Industry (Construction, Marine, Transportation, Aerospace & Defense), Application (Interior, Exterior, Furniture, Air Conditioning Duct Panel), Class, and Region - Global Forecast to 2025.
The global Phenolic Panel Market size is expected to grow from USD 1.7 billion in 2020 to USD 2.4 billion by 2025, at a CAGR of 6.5% during the forecast period. The market is growing due to the increase in the demand for phenolic panels in the construction, transportation, and aerospace & defense industries. This Insight Report provides a comprehensive analysis of the global Phenol & Acetone landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity.
Phenolic panels are used in the interior, exterior, furniture, and various other applications of end-use industries, such as construction, marine, aerospace & defense, and transportation, to name a few. The main purpose of these phenolic panels is to offer fire-resistance and moisture-resistance properties. For instance, phenolic panels are used in the exterior cladding, partitions, cubicles, and other applications to prevent fire accidents. The global phenolic panel market size was USD 1.7 billion in 2020 and is projected to reach 2.4 billion by 2025, registering a growth of 6.5%.
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What is Phenolic Panel Industry?
Phenolic panel industry is a manufacturing sector that produces construction panels made from phenolic resins. These panels are high-pressure laminate (HPL) panels that are used in a variety of applications, including building facades, cladding systems, interior wall and ceiling panels, and furniture.
Phenolic panels are made by impregnating layers of decorative paper with phenolic resins and then pressing them together under high heat and pressure. This process creates a durable, rigid, and fire-resistant panel that is resistant to weather, UV radiation, and other environmental factors.
Phenolic Panel Market Key Players
Phenolic Panel Market Segmentation
By Type:
By Class:
By Application:
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By End-use Industry:
By Region:
Phenolic panels used in the hot bond process comprises the major share of the market in terms of value.
The hot bond segment dominated the market in terms of value in 2019. Adhesives used in the hot bond process offers a strong, long-lasting repair with minimal risk of tearing, snagging, and other wear to the belt. They are mostly polyurethane-based and have a high demand for rubber conveyor belt repairing in the mining & quarrying industry.
Interior is the largest application of phenolic panel
Amongst all applications, the interior is the largest application of phenolic panel. Phenolic panels are used extensively for aircraft interior, railway interior, decorative interior in construction, partitions, and cubicles in various end-use industries. Superior fire-resistance and chemical resistance offered by the phenolic panel is responsible for the high consumption in an interior application.
The construction end-use industry accounted for the largest share in the global phenolic panel market
Phenolic panels are used in various end-use industries, such as mining & quarrying, cement & aggregate, steel, and others. The construction industry dominated the global phenolic panel market. The phenolic panel has a large demand for interior applications in the construction industry owing to superior fire resistance characteristics of the phenolic panel, which helps in avoiding fire-related accidents.
Europe is the largest phenolic panel market globally.
The phenolic panel market is segmented based on region into Europe, North America, APAC, MEA, and South America. Europe is the major consumer of phenolic panels owing to the high demand from the UK, Germany, and other European countries. The UK is the leading market in the region. Major applications of phenolic panels in the European market include building interior, aircraft interior, exterior cladding, furniture, and air conditioning duct panels, among others. The growth of the market is also attributed to the presence of established manufacturers and technological advancement related to the development of phenolic panel products.
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Table of Contents:
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Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Ceramic Sanitary Ware Market Scope
The ceramic sanitary ware market refers to the market for bathroom fixtures and accessories made of ceramic materials. The global ceramic sanitary ware market size is projected to reach USD 44.6 billion by 2025 with 6.8% of CAGR. The ceramic sanitary ware products include items such as toilets, sinks, bidets, and bathtubs.
The global ceramic sanitary ware market report puts light on various factors that have direct or indirect effect on the growth of business which includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the industry. This market research report identifies as well as analyses the emerging trends along with major driving factors, challenges and opportunities in the market for industry.
The ceramic sanitary ware market is driven by factors such as urbanization, rising disposable incomes, and increasing demand for water conservation. In recent years, there has been a trend towards the use of ceramic sanitary ware in commercial and public buildings, as well as in residential homes. The market for ceramic sanitary ware is expected to grow in the coming years due to increasing demand for high-quality, durable, and aesthetically pleasing bathroom products.
what is sanitary ware products?
Sanitary ware products refer to various bathroom fixtures that are designed to promote cleanliness and hygiene. These products are typically made from materials that are resistant to water, moisture, and bacteria growth. Some common examples of sanitary ware products include:
Sanitary ware products are an essential part of any modern bathroom, and they play a critical role in maintaining personal hygiene and overall cleanliness.
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Ceramic Sanitary Ware Market Key Players
There are many Key Players of ceramic sanitary ware worldwide. Some of the major ones include -
TOTO Ltd. (Japan) is another leading player in this market. The company launched high-end washlet bidet toilets in the global market. This new product is sold under the brand name or NEOREST NX. This helped the company to attract more customers.
Roca Sanitario SA (Spain) is also a leading producer of ceramic sanitary ware. The company launched a new bathroom collection made from innovative designs. This collection offers sanitary wares with bold colors. This helped the company to strengthen its product portfolio.
Kohler Co. (US) is also one of the leading producers of ceramic sanitary ware. In January 2020, the company introduced five new products, which include touchless faucets and touchless toilet technology, among others.
Ceramic Sanitary Ware Market Drivers
There are several drivers that can impact the ceramic sanitary ware market. Some of the key drivers include:
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Ceramic Sanitary Ware Market Segmentation
The ceramic sanitary ware market can be segmented based on type, technology, application, and region.
Based on Type:
Toilet sinks/Water closets is the largest type of ceramic sanitary ware.
The toilet sinks/water closets segment accounted for the largest share of the overall market, in terms of value, in 2019. It is also expected to be the fastest-growing segment during the forecast period. The demand from emerging nations and increasing consumer preference for toilet sinks to meet their basic sanitation requirements are driving the demand for toilet sinks/water closets. They have been further classified into one piece, two piece, wall hung closets, EWC, and others.
Based on Technology:
Slip casting is projected to be the largest technology of the ceramic sanitary ware market during the forecast period.
Due to its easy operation and low-cost labor, the slip casting segment accounted for the largest share in the ceramic sanitary ware market. The market in the pressure casting segment is projected to register the highest CAGR in the next five years.
Based on Application:
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Commercial is projected to be the larger application of the ceramic sanitary ware market during the forecast period.
The commercial application accounted for the larger share of the overall market in 2019. Ceramic sanitary wares have a wide range of applications in the commercial sector. Owing to the heavy use and frequent replacement of ceramic sanitary ware in the commercial sector, the growth of ceramic sanitary ware is high in this application.
Based on Region:
APAC is projected to be the largest market for ceramic sanitary ware during the forecast period.
APAC is the largest market of ceramic sanitary ware, followed by Europe and North America. The massive industrial growth in APAC has been fueling the growth of the ceramic sanitary ware market over the past few years, which is expected to continue during the next five years. Domestic and foreign investments in key sectors, such as energy, manufacturing, construction, and mining, have been consistently growing over the past decade. It is expected to result in the growth of the industrial sector and the demand for ceramic sanitary ware in the country.
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Foam Plastics Market Scope
Foam plastics are a type of polymer material that are produced by introducing gas or air into a polymer melt or solution to create a porous structure. These materials are known for their light weight, low density, and high insulation properties, making them suitable for a wide range of applications in various industries.
The foam plastics market is driven by the increasing demand for energy-efficient and lightweight materials in the construction, automotive, and packaging industries. The foam plastics market size for Foam plastics is projected to grow from USD 51.6 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 4.8%. In the construction industry, foam plastics are used as insulation materials to reduce energy consumption in buildings and homes. In the automotive industry, foam plastics are used in the manufacture of seats, door panels, and dashboards, as well as in the production of lightweight and fuel-efficient vehicles. In the packaging industry, foam plastics are used to protect and cushion products during transportation and storage.
The global foam plastics market is expected to grow at a compound annual growth rate of around 5% between 2021 and 2026, driven by the increasing demand for energy-efficient and lightweight materials, as well as the growing trend towards sustainable and eco-friendly materials. The market is also expected to be supported by the increasing demand for foam plastics in emerging economies, such as China and India, as well as the increasing adoption of foam plastics in the automotive, construction, and packaging industries.
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Foam Plastics Market Key Players
Foam plastics are a type of plastic material that is made up of a network of cells filled with gas, creating a lightweight and porous material. Foam plastics are used in a wide range of applications, including building and construction, automotive, packaging, and consumer products. Some of the key vendors in the foam plastics market include:
Foam Plastics Market Upcoming Trends
Some of the key trends in the foam plastics market include:
Foam Plastics Market Drivers
There are several drivers that are contributing to the growth of the foam plastics market:
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Foam Plastics Market Segmentation
The foam plastics market can be segmented based on type, end-use industry, and region.
By Type:
Polyurethane resin segment is projected to be the largest segment of the foam plastics market.
PU resin-based foam is available in a wide range of rigidity, hardness, and density levels. Low-density flexible resin-based foams are used in upholstery, bedding, automotive and truck seating, and novel inorganic plant substrates for roof or wall gardens. PU foams are mainly used in furniture & bedding and building & construction sectors. It is produced by many leading manufacturers. PU resin-based foam is a good choice for insulation and helps in reducing CO2 emissions.
By Application:
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Footwear, sports & recreational is the fastest-growing segment of the overall foam plastics market.
The footwear, sports & recreational segment is projected to be the fastest-growing end-use industry of foam plastics. The properties offered by foam plastics in polymer foams, such as good thermoforming capacity and creep resistance, make it suitable for use in many sporting goods such as skis, hockey sticks, snowboards, surfboards, and racing bicycle wheels. Using foam plastics in sporting goods make the final products lightweight and durable with high mechanical properties
By Region
APAC is the largest foam plastics market, globally.
APAC is the leading market for foam plastics. The growth in the region is fueled by the booming economies of China, India, Indonesia, and Vietnam. PU resin based foams are preferred choice in the building & construction industry in APAC. It is in high demand, as it is a low-cost material that provides low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. APAC is a rapidly developing region with growth opportunities for companies willing to invest in high-growth markets.
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Fluoropolymer Tubing Market Scope
Fluoropolymer tubing, also known as Teflon tubing, is a type of tubing made from a class of polymers that contain the element fluorine. These polymers are known for their excellent chemical and temperature resistance, which makes them well-suited for use in a variety of industrial and commercial applications. The global fluoropolymer tubing market size is projected to grow from USD 513 million in 2021 to USD 662 million by 2026, at a CAGR of 5.2% between 2021 and 2026.
Some of the key applications of fluoropolymer tubing include:
The market for fluoropolymer tubing is expected to grow in the coming years due to the growing demand for these materials in various industries, particularly in chemical processing, semiconductor and pharmaceuticals. Factors such as increasing demand for high-performance materials, technological advancements, and growing industrialization in developing countries are all expected to drive market growth.
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Fluoropolymer Tubing Market Key Players
Fluoropolymer Tubing Market Drivers
The market for fluoropolymer tubing is driven by a number of factors, including:
Fluoropolymer Tubing Market Restraints
There are a few key factors that can act as restraints on the growth of the fluoropolymer tubing market.
One of the main restraints is the high cost of fluoropolymer tubing compared to other types of tubing materials. Fluoropolymers are specialty materials that are difficult to manufacture and require specialized equipment, which can add to the overall cost.
The lack of flexibility in the material can also be a restraint as Fluoropolymer tubing is rigid, which limits its use in certain applications such as flexible tubing in medical devices or other applications where the tubing needs to bend.
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Fluoropolymer Tubing Market Segmentation
The global fluoropolymer tubing market can be segmented by material type, application, and geography.
By material type, the market can be segmented into:
FEP to be the fastest growing material segment of the fluoropolymer tubing market, during the forecast period.
Fluorinated ethylene-propylene or FEP was designed to overcome the limitations faced while using PTFE tubing. FEP has transparent walls and a slight increase in stiffness with increase in working pressure by 30%. It has low working temperature which is 50°F lower than that of PTFE and can be used as wire encapsulation without damaging the electrical components.
By application, the market can be segmented into:
Medical tubing is projected to account for the largest share of the fluoropolymer tubing market, by application, during the forecast period.
APAC countries such as China and Japan are witnessing rising demand for medical devices owing to the aging population. Medical and diagnostic equipment such as catheters and cardiopulmonary bypasses (CPB), and general equipment have high demand in the region.
Geographically, the market can be segmented into:
APAC is expected to be the fastest-growing market during the forecast period.
Fluoropolymer tubing market has been segmented into APAC, Europe, North America, South America, and Middle East & Africa. The market in the APAC region is growing due to the rising demand from various end-use industries such as medical, automotive, semiconductor, and energy. Asia Pacific is one of the fastest-developing markets, mainly due to rising population, urbanization, and industrialization.
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Reasons for Buying this Report
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 32)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 FLUOROPOLYMER TUBING MARKET: INCLUSIONS & EXCLUSIONS
1.4 MARKET SCOPE
1.4.1 YEARS CONSIDERED FOR THE STUDY
1.5 CURRENCY
1.6 UNIT CONSIDERED
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 35)
2.1 RESEARCH DATA
FIGURE 1 FLUOROPOLYMER TUBING MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Primary interviews – demand and supply sides
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
Continued...
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
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Rubber Additives Market Scope
The recently introduced report by MNM Research titled “Rubber Additives Market report includes an executive summary, regional economic outlook, and summary sections which provide a consistent analysis of the Rubber Additives Market 2021 - 2026. in addition, the report within the market overview section outlines SWOT analysis and PESTLE analysis to provide a thorough analysis of the market. The overview section details Porter's 5 forces analysis that helps to reveal a possible situation of the market by revealing a competitive situation with respect to the Rubber Additives Market. The rubber additives market is projected to reach USD 9.3 billion by 2026, at a CAGR of 3.5% from USD 7.8 billion in 2021. The Research Report mainly includes rubber additives market analysis, size, share, growth Factors, sales, Demand, Revenue, Trade, Forecast and Global companies Analysis. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
Browse in-depth TOC on "Rubber Additives Market"
226 – Tables
47 – Figures
182 – Pages
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Main Pointers Presented in the Report
Rubber Additives Market Key Players
The market is highly integrated, with a few major players dominating the market. Also, a large number of domestic and international market players are included in this report -
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Antidegradants is the largest type segment of the rubber additives market. Tire was the largest application segment of the rubber additives market. Asia Pacific was the largest market for rubber additives in 2020, in terms of value. The increased demand for superior quality processed rubber from the automotive industry is driving the market for rubber additives in the region. The growing population coupled with the increasing purchasing power of consumers is boosting the demand for automobiles in the region. This in turn drives the market for rubber additives as they are required to enhance the properties of rubber which is used to manufacture automotive tires.
Antidegradants segment is projected to be the fastest-growing type for rubber additives market between 2021 and 2026.
The demand for antidegradants is fueled by the expansion in its applications such as tire and industrial rubber products. These are used to improve the rubber's resistance against the effects of sunlight, oxidation, heat, and mechanical stress. Moreover, they are used to improve the performance and lengthen the service life of rubber products. The market for accelerators is estimated to witness a decent growth due to their increased demand for vulcanizing rubber products. The others segment is estimated to witness slow growth during the forecast period. Processing aids, blowing agents, among others are used to improve the plasticity of rubber.
Non-tire is projected to be the fastest-growing application in rubber additives market between 2021 and 2026.
Non-tire applications of rubber additives include conveyor belts, footwear, floor tiles, hoses, gaskets, among others. To meet the demand of consumers for durable and high-quality footwear, the brands make use of the finest rubber. Thus, the rubber is processed using the additives to make it suitable to be used for various applications. Rubber is used in the production of conveyor belts, and it is processed using rubber additives to make it efficient for use. Manufacturers in the Asia-Pacific region are focusing on increasing the quality of the conveyor belts to match the quality standards of the European products. The demand is also expected to arise from the Eastern European countries because of the economic development in the region
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Asia Pacific is projected to be the fastest-growing region for the rubber additives market during the forecast period.
Asia Pacific is the fastest-growing region in rubber additives market owing to rapid economic growth in the region. The increased demand for superior quality processed rubber from the automotive industry is driving the market for rubber additives in the region. The growing population coupled with the increasing purchasing power of consumers is boosting the demand for automobiles in the region. This in turn drives the market for rubber additives as they are required to enhance the properties of rubber which is used to manufacture automotive tires.
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About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Polylactic Acid (PLA) Market Scope
Polylactic acid (PLA) is a biodegradable and biobased plastic derived from renewable resources such as corn starch, cassava roots, or sugarcane. Because of its environmental advantages, PLA is becoming increasingly popular as a substitute for traditional petroleum-based plastics. The global market for PLA is expected to grow in the coming years, driven by rising concerns about plastic waste and the environmental impact of traditional plastics. Polylactic Acid (PLA) Market size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026. The competitive scenario of the Polylactic acid (PLA) market is highlighted in the market, which provides an outlook analysis of the various business growth strategies adopted by the vendors. It also covers vital news that delivers valuable thought at the different stages while keeping up to date with businesses and engaging stakeholders in the economic debate.
There are several factors that are expected to drive the growth of the PLA market in the future. One of the key drivers is the growing concern about plastic waste and its negative impact on the environment. As a biodegradable plastic, PLA can help to reduce the amount of plastic waste that ends up in landfills and the natural environment. Additionally, because PLA is made from renewable resources, it has a lower carbon footprint compared to traditional plastics.
Another factor driving the growth of the PLA market is the increasing demand for sustainable packaging solutions. PLA is a suitable alternative to traditional plastics in food packaging, disposable cutlery and other applications, as it can be composted and breakdown safely in natural environment.
The polylactic acid (PLA) market is driven by a number of factors, including increased demand for sustainable and biodegradable materials, government regulations and incentives for the use of bioplastics, and the growing use of PLA in a variety of applications.
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Polylactic Acid (PLA) Market Key Players
Polylactic Acid (PLA) Market Drivers
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Polylactic Acid (PLA) Market Restraints
There are several restraints that can impact the growth of the Polylactic Acid (PLA) market. Some of the key restraints include:
Polylactic Acid (PLA) Market Segmentation
The Polylactic Acid (PLA) market can be segmented based on various criteria such as:
By Grades
The thermoforming grade segment is expected to lead the PLA market during the forecast period.
Thermoforming grade has enormous growth potential in various packaging applications such as food, beverages, and other consumer products. Thermoformed parts made of PLA have excellent clarity, comparable to those formed in oriented polystyrene (OPS) and polyethylene terephthalate (PET). This, combined with the temperature requirements for product storage, make thermoformed PLA suitable for food packaging trays for baked goods, fruits, and vegetables.
By Applications
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By End-use industries
The packaging segment is estimated to be the fastest-growing end-use industry for PLA market during the forecast period.
Packaging is the largest end-use industry for PLA, with a high CAGR of 13.0% during the forecast period. The need for sustainable solutions has encompassed several industry verticals, including food & beverages, e-commerce, and FMCG. The unique properties of packaging enable its use in various food and non-food applications such as cigarettes, biscuits, sugar confectioneries, baked goods, noodles, and other snacks. The rise in e-commerce has also increased packaging requirements.
By Region
Europe is expected to be the largest market for PLA during the forecast period.
The packaging industry is the largest end-use industry of PLA in Europe. The political and economic conditions have also driven the market penetration of PLA. The EU Commission has focused on the Lead Markets Initiative, where PLA has been identified as one of the most important potential markets. The strict government norms and economic conditions have also driven the PLA market. These factors have been responsible for the development of PLA with collaborative research in the region.
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About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
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The corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market is a segment of the overall coatings industry, which includes the production and sale of various types of coatings that are used to protect and decorate surfaces. CUI coatings are used to protect metal surfaces from corrosion that can occur when they are covered by insulation. SOI coatings, on the other hand, are used to insulate surfaces, typically to reduce heat loss or gain. The Corrosion Under Insulation and Spray-on Insulation Coatings Market size is projected to grow from USD 1.9 billion in 2022 to USD 2.3 billion by 2027, at a CAGR of 4.7%. The report Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market provides analysis by Type (Epoxy, Acrylic, Silicone, and Others), End-Use Industry Oil & Gas, and Petrochemical, Marine, Energy & Power) and Region.
The demand for CUI and SOI coatings is driven by the need to protect and insulate various types of infrastructure, including pipelines, tanks, and vessels, as well as buildings and other structures. These coatings are used in a variety of industries, including oil and gas, petrochemical, power generation, and construction.
The CUI and SOI coatings market is expected to grow in the coming years due to increasing investment in infrastructure and the need to protect and maintain existing assets. The adoption of advanced coatings technologies, such as spray-applied coatings, is also expected to drive market growth. However, the market may be impacted by factors such as changes in regulations, competition from alternative materials, and fluctuating raw material prices.
The demand for CUI and SOI coatings is expected to grow as industries continue to invest in maintaining and protecting their assets. The increasing focus on sustainability and the need to reduce maintenance costs is also driving demand for these coatings.
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What is Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings industry?Corrosion Under Insulation (CUI) refers to the corrosion that occurs on the surface of pipes and equipment that are insulated, often due to water or moisture that is trapped between the insulation and the metal surface. CUI can cause significant damage to the equipment and can result in safety hazards if not properly addressed.
Spray-on Insulation (SOI) Coatings, on the other hand, are a type of insulation that is sprayed directly onto the surface of pipes and equipment. These coatings can provide both thermal insulation and corrosion protection, and can be applied in a variety of industrial settings.
The Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings industry is therefore focused on developing solutions to prevent and mitigate the effects of CUI, as well as providing high-performance SOI coatings that can protect equipment and reduce energy consumption.
Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Key Players
The demand for CUI and SOI coatings is expected to increase in the coming years due to the growing need for energy efficiency and the increasing use of insulated equipment in various industries. The growth of the oil and gas industry, in particular, is expected to drive demand for these coatings.
There are several factors that could affect the market for CUI and SOI coatings. These include changes in the price of raw materials, advances in technology, and changes in regulations and standards. The level of competition in the market and the availability of alternative coatings could also affect the market.
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Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Segmentation
The market for CUI and SOI coatings is segmented based on the on type, end-use industry, and region.
Based on Type
The epoxy-based CUI & SOI coatings to lead the market, by type, during the forecast period.
Epoxy-based CUI coatings have been estimated to lead the market during the forecast period. It is widely used in CUI & SOI coating because of its excellent grip, and chemical resistant properties. The properties of epoxy-based coatings can be improved by the suitable addition of additives and modifiers to meet the required specifications. They are hard and resist humidity, abrasion, acid, water, alkali, and seawater. They hold low volatility and are water cleanable. These features make them ideal for use on metal surfaces such as cast iron and aluminum.
Based on End-use industries
The oil & gas, and petrochemical segment are estimated to be the largest end-use industry in the CUI & SOI coatings market during the forecast period.
Intense and hazardous operations are conducted in the oil & gas industry. CUI & SOI coatings are used for oil & gas pipelines (new & repair), which include onshore & offshore operations. This industry is growing rapidly, as many refineries globally are converting into integrated plants.
Based on the Region
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The CUI & SOI coatings market in the Asia Pacific is expected to register the highest CAGR during the forecast period.
The market for CUI & SOI coatings in APAC is projected to register significant growth, and this trend is projected to continue during the forecast period. Asia Pacific is the fastest-growing CUI & SOI coatings market globally. This is attributed to economic growth, followed by large investments in various industries such as petrochemical, oil & gas, marine, energy & power, and others. APAC is the most lucrative market and should be the same in the near future.
APAC is the center of foreign investments and booming manufacturing sectors due to the low-cost labor and inexpensive availability of land. The rise in demand for CUI & SOI coatings can be ascribed to the growing marine, oil & gas, and petrochemical industries. These factors are contributing to the rising demand for CUI & SOI coatings in the Asia Pacific.
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