Specialty Oilfield Chemicals: Market Leader & New Revenue Pockets

The specialty oilfield chemicals market is expected to grow from USD 11.36 billion in 2018 to USD 13.88 billion by 2023, at a CAGR of 4.1% between 2018 and 2023. Expansions, acquisitions, and new product launches are the key strategies adopted by the major players to strengthen their position in the specialty oilfield chemicals market. The North American and European regions witnessed the maximum number of strategic developments undertaken by various players between 2013 and 2017.

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The key players operating in the specialty oilfield chemicals market are BASF (Germany), Ecolab (US), Clariant (US), DowDuPont (US), Solvay (Belgium), Schlumberger (US), AkzoNobel (Netherlands), Halliburton (US), and Baker Hughes (US), among others.

BASF (Germany) is one of the leading manufacturers of specialty oilfield chemicals. The company offers products, which are used for the construction of oil wells and chemicals for the continuous and cost-effective production of oil & gas from these wells. The company has a strong presence in major regions, which helps it to enhance its penetration in the specialty oilfield chemicals market across the globe. In September 2015, the company launched a series of new chemical technologies for the upstream oil & gas industry. The company launched high-temperature performance enzymes, H2S scavengers, corrosion inhibitors, fluid loss additives, and enhanced oil recovery chemicals, which enabled it to establish a strong foothold in the specialty oilfield chemicals market.

Ecolab (US), and Clariant (US) are other major players in the specialty oilfield chemicals market. Nalco Champion, which operates under Ecolab, is a leading provider of high-performance chemicals for the oil & gas industry. Nalco Champion is known to be the fastest-growing specialty oilfield chemicals company in the world. It offers innovative and environmentally acceptable solutions to the oil & gas industry, thereby giving its parent company, Ecolab a strong growth opportunity in the specialty oilfield chemicals market. The company’s strong capability of providing on-site, technological solutions to the upstream and downstream market makes it a top player in the specialty oilfield chemicals market. In November 2016, Ecolab launched five unique chemistries to achieve production sustainability, reduce lease operating expenses, increase operational efficiency, and eliminate CAPEX.

Clariant (US) extensively focuses on the development of chemicals for varied applications in the upstream oil & gas industry. The company undertook several acquisitions and launched numerous new products to strengthen its position in the specialty oilfield chemicals market. The company has manufacturing capabilities spread across the world and operates in Europe, North America, Asia Pacific, and the Middle East & Africa. In September 2016, Clariant acquired Kel-Tech Inc. (US) and X-Chem LLC (US) to aid its oil & mining services, thereby becoming one of the leading oilfield chemicals providers in the North American region. This acquisition helped the company to gain a substantial share in the specialty oilfield chemicals market.

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SODIUM SILICATE MARKET - GLOBAL FORECAST TO 2022

The sodium silicate market size is projected to reach USD 11.03 billion by 2022, at a CAGR of 4.4% between 2017 and 2022. Sodium silicate is a versatile inorganic chemical. It is produced as a white crystalline powder or in the form of lumps that are soluble in water. It is manufactured by melting sand/silicon dioxide (SiO2) and soda ash/sodium carbonate (Na2CO3) at a temperature above 1800 °F in a closed end furnace. Caustic soda/sodium hydroxide is used instead of sodium carbonate for the direct production of liquid sodium silicate. Sodium silicate is a non-toxic, non-flammable, and non-explosive chemical. It is a strong alkaline chemical having high pH ranging from 10 to 13. Its alkaline nature makes it preferable for various applications such as detergents, precipitated silica, construction, pulp & paper, textiles, paints, foundry, and water treatment. The increasing use of sodium silicate in various applications, such as detergents, precipitated silica, and pulp & paper, is expected to drive the market.

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Expansions, acquisitions, and mergers were the key strategies adopted by the major players to achieve growth in the global sodium silicate market between 2015 and 2018. The major players in the sodium silicate market are PQ Corporation (US), Occidental Petroleum Corporation (US), Tokuyama Corporation (Japan), Nippon Chemical Industrial (Japan), BASF (Germany), Kiran Global Chem Limited (India), Sinchem Silica Gel (China), Shijiazhuang Shuanglian Chemical Industry (China), IQE Group (Spain), and CIECH (Poland).

Nippon Chemical Industrial used expansions as its major strategy to increase its presence in the Southeast Asian market. In August 2017, Nippon Chemical Industrial established a new company JCI in Thailand through a joint venture with local capital. With this expansion, the company aims to expand its business in Southeast Asia, majorly in Thailand.

Tokuyama Corporation used mergers as its major strategy to strengthen its sodium silicate business. In February 2017, Tokuyama Corporation made an absorption-type merger (simplified merger) with its wholly-owned subsidiary Tokuyama Siltech (Japan). The company expects to increase the business of sodium silicate with this merger.

IQE Group used acquisition as its major strategy to increase its sodium silicate production capacity. In November 2015, IQE Group acquired the silicate division of PeroxyChem (US) that includes the silicate production line located at the La Zaida plant and the Zamudio factory in Spain. With this acquisition, the company has increased its production capacity and reduced its competition in Spain.

Asia Pacific is estimated to be the largest market for sodium silicate. China is estimated to be the leading market for sodium silicate in Asia Pacific. India, Japan, and South Korea are the other major countries contributing to the growth of the sodium silicate market in the region. The increasing demand for sodium silicate from applications such as detergents and construction is expected to drive the sodium silicate market in these countries.

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THE SECONDARY REFRIGERANTS MARKET LEADER& NEW REVENUE POCKETS

Secondary refrigerants permit the measures of naturally unsafe essential refrigerants to be limited and contained in a confined territory. Cases of secondary refrigerants incorporate water, air, hydrocarbons, smelling salts and carbon dioxide, which are more earth benevolent than conventional refrigerants, for example, HCFCs. They are more secure (some are even incombustible and non-poisonous) and for the most part reasonable for refrigeration frameworks. Salt waters are frequently picked as secondary refrigerants for expansive refrigeration frameworks, for example, those providing grocery stores, the most widely recognised brackish waters being water-glycol arrangements, water-ethanol arrangements and acetic acid derivation arrangements.

The secondary refrigerants market is estimated to be USD 499.7 million in 2017 and is projected to reach USD 710.7 million by 2022, at a CAGR of 7.3% between 2017 and 2022. Low impact of secondary refrigerants on the environment and the rising demand for reduction in primary refrigerant charge are the major factors driving the secondary refrigerants market. The rising demand for low global warming potential (GWP) refrigerants, such as hydrofluoroolefin (HFO), carbon dioxide (CO2), ammonia (NH3), and hydrocarbons in refrigeration systems are fueling the growth of the secondary refrigerants market.

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Players in the secondary refrigerants market are mainly concentrating on new product launches, expansions, and distribution agreements to meet the growing demand for secondary refrigerants for various applications. Expansions help companies cater to the need for secondary refrigerants in regions such as Europe and APAC, while new product launches help companies to meet specific demands of its customers.

The growth of the secondary refrigerants market has been largely influenced by expansions and new product launches that have taken place between 2012 and 2017. Companies such as A-Gas International (UK), The Dow Chemical Company (US), and Clariant AG (Switzerland) have adopted strategies of expansions and new product launches to expand their regional presence and enhance their product offerings.

Dow is among the leading manufacturers of secondary refrigerants. The company earns steady revenue through its chemical product range and is expanding its operating segments globally. The company is focusing on providing innovative and advanced solutions to its customers by launching new products. For example, the company introduced two new glycol-based heat transfer fluids, DOWCAL eGEO and DOWCAL pGEO in Europe in November 2015. These products are formulated especially for the geothermal application. This has helped in strengthening the product portfolio of the company. The development of new technology, along with a wide market penetration provides the company a competitive advantage over other players in the market. The company has a large number of registered patents, owing to its extensive R&D efforts. The R&D activities make the company a strong competitor in terms of offering innovative products and solutions to its customers.
Clariant AG is among the leading manufacturers of secondary refrigerants. The company focuses on providing innovative and advanced solutions to its customers by launching new products. For example, Clariant AG launched glycol-based secondary refrigerants in June 2016, namely, Antifrogen and Protectogen ranges of heat transfer products. These heat transfer fluids are used in solar thermal systems and geothermal applications.

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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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