Strategies Major Players are Adopting in Polyurethane Elastomers Market

PU elastomers are the natural or synthetic polymers having elastic properties. These polymers are joined by chemical bonds, acquiring a slightly crosslinked structure. They are widely used in various applications such as footwear, automotive & transportation, industrial machinery, building & construction, and others.

The global PU elastomers market is projected to reach USD 16.63 billion by 2022, registering a CAGR of 5.9% between 2017 and 2022. The increasing demand from the footwear segment, advancements in the TPE processing industry, increasing use in various end-use industries, and increasing purchasing power of consumers are the key factors fueling the demand for PU elastomers around the world. However, fluctuating crude oil price is the key challenges faced by the manufacturers of PU elastomers.

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Key companies profiled in this report are BASF (Germany), Dow (US), Huntsman (US), Covestro (Germany), Mitsui Chemicals, (Japan), Chemtura Corporation (US), Lubrizol Corporation (US), P+S Polyurethan-Elastomere (Germany), Tosoh (Japan), and Wanhua Chemical (China). Rapid technological upgradations in the automotive industry, coupled with improving standards of living of consumers in developing regions, have encouraged the companies to adopt several business strategies to stay competitive in the global market between 2015 and 2018. Leading companies have adopted new product launches, expansions, acquisitions, and agreements as their key growth strategies in the
global PU elastomers market.

BASF (Germany), one of the biggest PU elastomer manufacturers in the world, has adopted new product launches as its key strategy. For instance, in October 2016, the company launched Elastollan grade B50A12CF that is used for manufacturing of ultra-soft synthetic leather. This leather is highly cut resistant and helps manufacturers meet the stringent Volatile Organic Compound (VOC) standards for applications such as car seats and furniture. This has helped the company in expanding its market share in the automotive application.

Huntsman (US) has considered acquisition as one of its key strategies to stay competitive in the global PU elastomers market. For instance, in May 2017, the company acquired IFS Chemicals Limited (England), which is a leading independent polyurethane formulations company in the UK. This acquisition helps the company strengthen its differentiated downstream capabilities. With this acquisition, the MDI-based polyurethane elastomers manufacturing facilities of Huntsman increased to more than 25 worldwide.

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Bioplastics & Biopolymers Market: Top Key Players & Growth Analysis

Bioplastics are biodegradable materials that originate from sustainable sources and can be utilized to diminish the issue of debasing plastic waste that is choking out the planet and polluting the earth.
The global market size of bioplastics & biopolymers was USD 2.66 Billion in 2015 and is projected to reach USD 5.08 Billion by 2021. The market is projected to witness a CAGR of 12.0%, in terms of value, during the forecast period. In this study, 2015 is considered as the base year for estimating the market size of bioplastics & biopolymers. The market size is projected for the period between 2016 and 2021.

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This growth is mainly driven by implementation of strict environment regulations to reduce carbon content and fluctuating fuel prices which is compelling manufacturers to use a stable source of raw material.

Europe is the biggest regional segment for the bioplastics & biopolymers market, in terms of value and volume, and also projected to dominate the market till 2021. Russia and the U.K. are projected to witness high CAGR during the forecast period. This is due to focused interest on sustainable packaging, and increased political awareness in Europe about environmental issues, which resulted in the formulation of laws and regulations that have influenced all industries in Europe. Europe has huge growth potential during the forecast period. This growth is attributed to the developing construction sector in this regions and increasing applicability of bioplastics & biopolymers in packaging, bottles, agriculture, automotive and consumer products industries. 

Bio-PET is the major type used in various applications. It is also projected to dominate the market between 2016 and 2021, in terms of both value and volume. On the other hand, PHA, PLA, and Bio-PE are expected to witness high CAGR, by volume, during the forecast period.

Among the various end users of bioplastics & biopolymers, packaging is projected to account for the largest market share during the forecast period. Bioplastics & biopolymers are widely used in the packaging sector for food packaging, cosmetics packaging, pharmaceuticals packaging, goods packaging. Moreover, bioplastics packaging is cheaper than glass packaging, wood packaging.  The bottling industry is projected to witness the highest CAGR during the forecast period. Many pioneers in the beverage industry are preferring bioplastics packaging to conventional plastics, and marching toward sustainability. Ever growing agriculture industry is also expected to influence the demand of bioplastics & biopolymers between 2016 and 2021.

Major market participants contributed toward the growth of the market by adopting several organic and inorganic growth strategies. New product launches and partnership, agreements & collaborations are the key strategies adopted by companies such as BASF SE (Germany), Braskem S.A. (Brazil), and NatureWorks LLC (U.S.). These strategies helped the companies to enhance their regional reach and increase product portfolio of bioplastics to meet the application specific demands of the end-use industries. Mergers, acquisitions & joint ventures, capacity expansions, and R&D also contributed toward the growth of the market players.

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Automotive composites Market: Market Insights & Global Forecasts to 2022

Automotive composites are lightweight materials that are used to make vehicles fuel efficient and impact resistant. These composites offer better properties as compared to traditional materials such as aluminum and steel. They result in a significant weight reduction of cars, thereby leading to their increased fuel efficiency. The automotive composites are used in both, electric as well as non-electric vehicles for manufacturing their exteriors, interiors, chassis, and powertrains. In terms of value, the automotive composites market is projected to reach USD 13.14 billion by 2022, at a CAGR of 12.26% from 2017 to 2022.

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The key players operating in the automotive composites market are increasingly adopting inorganic and organic growth strategies to strengthen their positions in the automotive composites market. These companies have adopted agreements, expansions & investments, mergers & acquisitions, and new product developments as key growth strategies between January 2013 and August 2017 to enhance their positions in the market.

For instance, SGL Group (Germany), which is one of the world’s leading manufacturers of carbon-based products and materials, is focusing on strategic approaches, namely, expansions, new product developments, and agreements to enhance its position in the automotive composites market. In October 2015, the company launched unidirectional tapes and long-fiber-reinforced thermoplastics based on glass and carbon fibers for several applications in the automotive industry. Moreover, through SGL Automotive Carbon Fibers (Germany), which is a joint venture of SGL Group (Germany) and BMW Group (Germany), the company has tripled the capacity of its carbon fiber plant in Moses Lake, WA (U.S.). This joint venture has enabled BMW Group to use carbon fiber materials in its car models at competitive costs and in large quantities.

The major players operating in the automotive composites market are Toray Industries, Inc. (Japan), SGL Group (Germany), Mitsubishi Chemical Corporation (Japan), Plasan Carbon Composites (U.S.), Solvay S.A. (Belgium), UFP Technologies, Inc. (U.S.), Toho Tenax Co., Ltd. (Japan), Koninklijke Ten Cate B.V. (Netherlands), Continental Structural Plastics Inc. (U.S.), Gurit (Switzerland), and Owens Corning (U.S.), among others. These companies have an established presence in the automotive composites market and are continuously making efforts to improve their business strategies and their product portfolios. The various key parameters such as geographic footprints, inorganic and organic growth strategies, business revenues, and product offerings, among others are taken into consideration by these players to remain competitive in the automotive composites market.

For instance, in March 2017, Mitsubishi Chemical Corporation (Japan) acquired Gemini Composites (U.S.), which specializes in designing, engineering, and prototyping products using forged composite technology. This acquisition is expected to not only help the company in enhancing its product development capabilities for automotive sheet molding compounds (SMC) components but also enable development of innovative products based on the component design-driven approach. In March 2017, the company developed a carbon fiber sheet molding compound for Toyota Motor Corporation (Japan). This compound is used in the rear door frame of the new Toyota Prius PHV car model. The focus of the company on new product developments has further helped it to supply innovative products to its customers and broaden its carbon fiber materials product portfolio.

Solvay S.A. (Belgium), which is a key manufacturer and provider of automotive composites, has adopted the strategies of partnerships and new product developments to enhance its position in the automotive composites market. For instance, in April 2017, the company entered into a partnership with Bentley and Penso Consulting Ltd. (U.K.) for the development of flexible and lightweight architecture for high-volume applications in automotive. This partnership is expected to enable Solvay S.A. to develop composite solutions to meet the requirements of automotive original equipment manufacturers (OEMs).

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Flavors & Fragrances Market – Key Revenue Pockets

Growing population and rapid urbanization in the Asia Pacific and the Middle East & Africa is expected to drive the flavors & fragrances market globally

The flavors & fragrances market is expected to grow from an estimated USD 21.15 billion in 2017 to USD 24.13 billion by 2022, at a CAGR of 2.67% between 2017 and 2022. The growing demand for flavors & fragrances from end-use industries such as food & beverage and consumer goods is expected to drive the flavors & fragrances market. The flavors & fragrances market is also expected to grow due to rising demand for consumer products and changing consumer preferences for convenience food products.

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The market has been segmented on the basis of ingredients, end use, and region. Based on ingredients, the natural ingredients segment is projected to grow at the highest CAGR between 2017 and 2022. This growth of the natural ingredients segment is attributed to the strict regulations related to the use of synthetic flavors & fragrances and growing awareness among populations concerning health and wellness.

Based on end use, the flavors market is segmented into beverage, savory & snacks, bakery, dairy products, and confectionery, among others. Dairy products is estimated to be the fastest-growing end-use segment of the flavors market during the forecast period. Growing awareness among the younger population related to functional ingredients contained in dairy products is driving the demand for dairy products, which in turn is driving the dairy flavors market. Based on end use, the fragrances market is segmented into consumer products and fine fragrances. Fine fragrances are estimated to be the fastest-growing end-use segment of the fragrances market during the forecast period, due to increasing consumer spending on premium fragrances.

Based on region, the Asia Pacific is projected to be the largest market for flavors & fragrances between 2017 and 2022. The increasing demand for a variety of food products and consumer goods, such as home care and personal care products due to rapidly growing populations, increase in disposable incomes, and change in consumer preferences is fueling the growth of the flavors & fragrances market in the region. Most of the key players operating in the flavors & fragrances market have their offices and manufacturing units in the region.

One of the key factors restraining the growth of the flavors & fragrances market is the stringent regulations for flavors & fragrances by different government entities, such as European Food Safety Authority, Flavor & Extracts Manufacturers Association (FEMA), US Food and Drug Administration (FDA), and China Food, Drug Administration (CFDA), and International Fragrance Association (IFRA).

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COSMETIC PIGMENTS MARKET LEADERS RESEARCH INSIGHT AND NEW REVENUE POCKETS

The cosmetic pigments market is projected to grow from USD 550.3 Million in 2017 to USD 790.0 Million by 2022, at a CAGR of 7.5% during the forecast period. This growth can be attributed to the increasing demand for cosmetic pigments in cosmetic and personal care applications, and rising income and improving the lifestyle of people in emerging economies. New product launches and agreements & joint ventures undertaken by the players operating in the market are also fueling the market growth.

Expansions and acquisitions is the key strategy adopted by the players to gain traction in the cosmetic pigments market. The strategy of expansions and acquisitions accounted for a share of 56.4% of the total growth strategies adopted by the market players between 2013 and 2017. Leading market players have also adopted the strategy of new product launches.

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Strategic initiatives between 2013 and 2017 were mostly undertaken in Asia Pacific, North America, and Europe. New product launches was the most adopted strategy in Asia Pacific and Europe; this strategy accounted for a share of 43.6% of all the expansions that took place between 2013 and 2017. Companies such as Sun Chemical (US), Sensient Cosmetic Technologies (France), Sudarshan Chemical (India), Merck Performance Materials (US), and BASF SE (Germany) made several expansions to serve customers efficiently and increase their market shares. These companies adopted both, organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to strengthen their foothold in the cosmetic pigments market.

Sun Chemical is a market leader in providing solutions for coatings, printing inks, pigments, polymers, liquid compounds, solid compound, and application materials. The company focuses on the organic growth strategy by innovating new products in its portfolio, which helps in enhancing the presence of the company in the cosmetic pigments market to gain a competitive advantage over other companies. For example, the company launched a new SunSHINE Mystic Black Pearlescent Pigment at in-cosmetics Latin America in 2016. The new pigment could be used to create bold formulations for lipsticks, mascara, eyeliner, eyeshadow, and nail polishes. This has helped the company to expand its product portfolio.

Sensient Cosmetic Technologies is a leading manufacturer and supplier of high-performance colorants and innovative ingredients for makeup, skin care, hair care, personal hygiene, oral care, and fragrance. The company has been expanding its production capacity and product line up. It is focusing on its organic pigment and surface treated pigment segments. For example, in 2014, the company announced the expansion of its current site in Saint Ouen L’Aumône, France. This expansion has helped the company to increase its production capacity, thus, improving the supply chain and dedicate more resources to its R & D to develop a global center of expertise for cosmetics.

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Ethylene Carbonate Market to Showcase Significant Growth in the Coming Years

The growth of the ethylene carbonate market can be attributed to the increasing demand for ethylene carbonate across various applications, such as lithium batteries electrolytes, lubricants, coatings, and plasticizers. As per research statistic, The ethylene carbonate market is projected to grow from USD 264.8 million in 2017 to USD 355.1 million by 2022, at a CAGR of 6.0% in terms of value from 2017 to 2022. 
 
By end-use industry, the automotive segment of the ethylene carbonate market is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for lithium battery electrolyte in electric vehicles. In addition, initiatives taken by government bodies to encourage electric vehicles is a major factor contributing to the growth of the automotive industry

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Technological advancements in the end-use industries are fueling the demand for ethylene carbonate in North America and Europe. End-use industries, such as automotive and manufacturing are benefited from the development of various applications such as lithium battery electrolyte and lubricants stabilizers in terms of increasing the efficiency of vehicles and equipment used in these industries. 

By region, the ethylene carbonate market in Asia Pacific is projected to grow at the highest CAGR between 2017 and 2022. Asia Pacific is the leader in terms of consumption of ethylene carbonate. The increasing demand for lithium battery electrolyte, plasticizers, and surface coating-based products from China, South Korea, Taiwan, and Japan is a key driver of the market in the region. The increasing demand for surface coatings and lubricants from oil & gas, industrial, and automotive industries and rising investments in establishing manufacturing facilities of ethylene carbonate are expected to drive the market for ethylene carbonate in this region.

Volatility in raw material prices is a risk for ethylene carbonate manufacturers as it is expected to bring down the profit margins. The ethylene carbonate market is also affected by the high transport costs and manufacturing costs.

Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan) are the leading companies operating in the ethylene carbonate market. These companies are expected to account for significant shares of the ethylene carbonate market in the coming years.

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Good Business Opportunities Predicted for the Global Antifouling paints & coatings Market in the Coming Years

The growth of organisms on the surface of ships and boats affect the performance and durability of these vessels. Antifouling paints & coatings contain a biocide or toxin in their structure, which prevents the growth of organisms on the surface of ships and boats, and help maintain a clean and smooth hull. This further helps in maintaining the operational efficiency of the vessels. Application of antifouling paints & coatings reduces the maintenance cost and greenhouse gas emissions due to low fuel consumption.

The global antifouling paints & coatings market was valued at USD 5.61 billion in 2015 and is projected to reach USD 9.22 billion by 2021, at a CAGR of 8.6% from 2016 to 2021. This growth can be attributed to the increasing demand of antifouling paints & coatings in the Asia-Pacific region. Increasing usage in shipping vessels, drilling rigs & production platforms, fishing boats, yachts & other boats, mooring lines, and inland waterways transport has further fueled the growth of the market in Asia-Pacific.

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Key players operational in the global antifouling paints & coatings market, such as Hempel A/S (Denmark), AkzoNobel N.V. (Netherlands), PPG Industries (U.S.), and Chugoku Marine Paints, Ltd. (Japan) launched various new products to cater to the diverse needs of customers and expand their presence in the market. These players are now focusing on developing products that will help in reducing fuel consumption.

Asia-Pacific accounted for the largest share of the antifouling paints & coatings market in 2015. China, Japan, India, and Korea are the major markets for antifouling paints & coatings in Asia-Pacific. The rise in shipbuilding and ship maintenance activities are expected to boost the growth of the antifouling paints & coatings market in the region.

Shipping vessels was the largest segment of the global antifouling paints & coatings market in 2015, in terms of volume and value. The growth of the market is majorly driven by this segment, as a majority of shipping fleet is coated with antifouling paints & coatings.

Increasing usage of antifouling paints & coatings for protecting vessels from growth of fouling organisms, along with the extension of dry dock intervals is propelling the growth of the global antifouling paints and coatings market.

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