Latest Market Trends

Hydrophobic Coatings Market Attain Height of USD 2.33 billion Worldwide

The global Ionic Liquids Market is set to witness a higher CAGR in the forecast period. Ionic liquids are salts comprising cations such as pyridinium, imidazolium, and quartenary phosphonium. Anions such as triflate, halogen, tetrafluoroborate, and hexafluorophosphate also find existence in the liquid state reasonably at low temperatures. Features such as non-flammability, non-combustibility, no vapor pressure, and high ionic conductivity exist in ionic liquids.

As a solvent, only the ions are solvated under which the reaction moves ahead under a different phase when compared to using ordinary organic solvents and water. Therefore, applications for several organic reactions are explored using R&D techniques. Ionic liquids market is driven by stringent regulations by government to curb toxicity by lessening the impact of volatile organic compounds. The liquids are highly used for biomass conversion on a commercial scale.

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By reaction, ionic liquids industry is segmented as diels-alder reaction, heck reaction, aldol condensation, Suzuki-miyaura coupling reaction, wittig reaction, stille reaction and friedel-crafts reaction. Application segment for ionic liquid market include solvent, catalysts, bio-refineries, extractions & separations and energy storage. Geographical segmentation for ionic liquids market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa.

North America is expected to account for a moderate market share in the forecast period owing to presence of low number of chemical manufacturers and stringent government norms and regulations. Asia-Pacific regions are expected to witness a substantial market share in the forecast period due to presence of numerous regional players in the region. The key players in the ionic liquids industry include BASF SE, Merck KgaA, Cytec Solvay Group, Strem Chemicals, Ionic Liquids Technologies GmbH, Reinste Nano venture Solvionic SA, Tatva Chintan Phara Chem Pvt Ltd and Tokyo Chemical Industry Co Ltd.

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Global Ionic Liquids Application Outlook (Revenue, USD Million, 2014 – 2025)
• Solvents & Catalysts
  • Extractions & Separations
  • Bio-Refineries
  • Energy storage
  • Others

Global Ionic Liquids Region Outlook (Revenue, USD Million, 2014 – 2025)
  • North America
      • U.S
      • Canada
      • Mexico
  • Europe
      • Germany
      • UK
  • Asia Pacific
      • China
      • Japan
      • India
  • Latin America
      • Brazil
  • Middle East and Africa

Hydrophobic Coatings Market Will Reach Height of USD 2.33 billion By 2024

Global Hydrophobic Coatings Market is expected to reach USD 2.33 billion by 2025. Hydrophobic Coating is termed as a coating that lessens surface free energies and wettability as contact angles are high with dissimilar liquids like non-polar liquids and polar liquids. When water is put onto a surface with a hydrophobic coating, it will form a droplet with any large contact angle.

Plasma is exclusively used to render hydrophobic coatings on several surfaces like ceramics, technical materials, glass, and metals. The repelling of water makes difficult for surfaces to harbor bacteria and therefore is exclusively used with regards to surgical and medical tools. The Hydrophobic Coating Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.

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Increasing demand from end users like medical, automotive, aerospace, construction & building, electronics, and marine and rising use of advanced technology are documented as the major driving factors to Hydrophobic Coatings Market. However, growing alternatives to Hydrophobic Coating and strict environmental policy are the factors that may restrain overall market in the years to come. Hydrophobic Coating Market is segmented based on substrate type, end user, and region.

Ceramics, metals, polymers, glass, concrete, and the other substrate types could be explored in Hydrophobic Coating in the forecast period. The concrete substrate sector is estimated to grow at the highest CAGR in the years to come as these coatings are exclusively used to avoid crumbling, cracking, and scaling on concrete.

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The market could be categorized based on end users like medical, automotive, electronics, aerospace, textiles, building and construction, marine, and others could be explored in Hydrophobic Coating in the forecast period. Automotive sector accounted for the substantial market share of Hydrophobic Coating and is estimated to lead the overall market in the upcoming period. This could be attributed to rising production of vehicles.

Globally, Asia Pacific accounted for the substantial market share of Hydrophobic Coating in 2017 and is estimated to lead the overall market in the near future. The reason behind the overall market growth could be high demand for vehicles among populace, growing start-ups in the medical manufacturing sector, developing construction industry, and rising innovation in the aerospace sector. The developing countries like India and China are the major consumers of Hydrophobic Coating in this region.

North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the foremost period.

The key players of Hydrophobic Coating industry are NEI Corporation, Drywired, NeverWet, BASF SE, The 3M Company, and PPG Industries. These players are concentrating on inorganic growth to sustain themselves amidstfierce competition.

Geomembrane Market Will Reach Height of USD 2.43 billion By 2024

The global Geomembrane Market size is expected to value at USD 2.43 billion by 2025. The geomembrane industry is subject to witness a substantial growth due to the rising expenditure towards waste and water management programs in both developed as well as developing economies across the globe. Increasing demand for shale gas from countries such as Germany, Russia, China, and India is expected to stimulate market growth over the forecast period. Robust growth of the mining sector in the Asia Pacific economies such as China, Australia, and Japan is propelling the market demand for geo-membrane, in the recent years.

Favorable government laws & regulations along with rising metal demand at the domestic level is predicted to boost market demand for geo-membrane in the various applications. Some of the typical applications of the geo-membrane include landfill covering and containment control. Globally, the geomembrane market is predicted to grow at higher CAGR in the forecast period providing numerous opportunities for market players to invest for research and development in the geomembrane industry.

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Furthermore, introduction of favorable regulatory standards by both local and international authorities such as the European Commission and EPA associated with the implementation of waste management practices in various sectors such as manufacturing industry, mining and oil & gas sector. Large number of geo-synthetic materials are finding applications in mining and oil & gas sector as shielding medium due to their corrosion resistance properties and resistance to adverse atmospheric conditions. The recent technological advancements such as development of new arc equipment that are typically used for production of geo-membrane to identify leaks are anticipated to foster market growth over the forecast period.

Increasing research & development activities in the North America region is expected to drive market growth as well. Moreover, increasing requirement for the bituminous membrane in waterproofing and landfill application is gaining traction among manufactures in the upcoming years. Increasing demand for polymers resins such as polypropylene, polyethylene high-density (PEHD), polyethylene low-density (PELD) and polyvinyl chloride in automobile, electrical and packaging sector is predicted to limit the raw material supply over the forecast period. Thus, limiting market growth to a certain extent. Yet, rising adoption of organic polymers based on growing concerns over greenhouse emissions and stringent laws & regulation by local governments are anticipated to fuel the development of innovative products in the near future.

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LDPE or polyethylene low-density (PELD) is considered as one of the fastest growing segment in the geomembrane market with substantial revenue generation in the last couple of years. Growing popularity of the polyethylene low-density (PELD) is attributed to lowered prices of the polymer in comparison with the polyethylene high-density (PEHD) and other polymers. Water management is one of the common application of the geo-membrane owing to the unique properties of geo-synthetic products such as shielding agent and resistance to the migration of water.

The geomembrane industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the manufacturing sector, massive demand of shale gas in the U.S. and Canada, increase in the availability of raw materials to geo-membrane manufacturers, and existence of well-established infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the geomembrane market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with the easy availability of raw materials to geo-membrane manufacturers, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the geomembrane industry are CETCO Energy Services Company LLC, GSE Holdings, Inc., Agru America, Inc., Solmax International, Inc., Officine Maccaferri SpA, NAUE GmbH & Co. KG, Mineral Technologies, Inc., and Juta & Company Ltd.

Awnings Market Will Reach Height of USD 3.64 billion By 2024

The North America Awnings Market size is expected to value at USD 3.64 billion by 2024. The North America awnings industry is subject to witness a substantial growth due to the shifting user preference towards outdoor deck and seating space construction units and soaring demand for retractable products in residential application. Factors responsible for sustained market growth in the North America awnings market include development of remote control assistance, integration of various sun and wind sensors, and products innovation. Regionally, the North America awnings industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development for the awnings industry.

Increasing adoption of the stationary awnings for various commercial applications and growing demand form hotels, resorts, and retail stores for low cost and high strength stationary awnings, are expected to drive the growth of North America awnings market over the forecast period. Additionally, other factors such as ease of installation, lower repair cost and longer life span of the products are predicted to boost market demand for awnings in North America region in the upcoming years. However, easy availability of substitutes such as blinds, shutters, and canopies is expected to restrain market growth to a certain extent.

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Increase in the merger & acquisition (M&A) strategy by industry players in order to intensify their market presence and gain competitive edge are predicted to fuel market growth in years to come. Additionally, vast competition in the market has led to development of innovative products, thereby propelling market growth, in the recent years. The recent advancement in buildings & construction sector coupled with development of the novel products are anticipated to foster market expansion over the forecast period.

However, higher initial cost and lack of availability of skilled labor force are some of the major challenges for sustained growth. Easy induction of stable fabric and heavy-metal awnings for doors and frames is projected to favor market growth in the upcoming years. Growing adoption of heavy-metal awnings for various applications in the commercial sector is propelling market growth in the recent years. Numerous application of awnings for retail store, hotels, restaurants, and cafés are expected to offer lucrative growth opportunities industry players in years to come.

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The North America awnings industry is broadly categorized into two major segments based on the products types such as retractable segment and stationary metal segment. The retractable awnings is considered as one of the fastest growing segment in the North America awnings market with substantial revenue generation in the last couple of years. Growing demand for the retractable awnings segment is attributed to the vast applications in the domestic applications.

The retractable market segment is further segmented into multiple sub-segments such as patio, traditional and vertical awnings. Patio sub-segment has witnessed massive growth, in the last few years owing to its cost efficiency and superior performance capability. Additionally, growing demand for installation in applications such as front doors, outdoor decks, and seating spaces are bolstering the growth of patio sub-segment.

The awnings market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, increase in the residential construction activities in the region, shift in the consumer preference towards outdoor decks and seating areas, and existence of well-established industrial infrastructure. Countries such as U.S. and Mexico are leading the North American market with increase in the number of application in the commercial sector and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the North America awnings industry are SunSetter Products LP, Sunesta Awnings Co., KE Durasol Awnings, Inc., Awnings Unlimited Inc., Aristocrat Shade Products Ltd., Awnings & Signs, Inc., Awning Company of America, Inc., Carroll Awning Co. Inc., Eide Industries, Inc., NuImage Awnings, Inc., Marygrove Awnings, Inc., Thompson Awning & Shutter Co., and Lloyd’s of Millville Inc.

Conductive Polymers Market Will Reach Height of USD 6.5 billion By 2024

The global Conductive Polymers Market is anticipated to reach USD 6.5 billion by 2024. Organic polymers are insulators in their original form and a few conducting polymers have single and double bonds that comprise aromatic rings such as anthracene, thiophene, and pyrrole that are connected to each other across carbon-carbon single bonds. For instance, polyacetylene possesses simple molecular bonds. However, its insolubility and other features have made it a misfit for technological applications. In such cases, polyaniline, polypyrroles, polythiophenes and polyphenylenevinylenes are technologically relevant.

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The conductive polymers market is highly driven by rise in demand for high-performance and lightweight products. Other features like enhanced chemical resistance and strength have enlarged the market demand in the global scenario. Applications segment for conductive polymer market include chip packaging, sensors, plastic transistors and display materials. End-user applications include batteries, capacitors, and actuator sensors, solar cells and solar sensors.

Geographical segmentation for conductive polymers market includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions register a positive rate of market growth owing to rise in foreign direct investments, mainly in the industrial manufacturing sector. Heavy industrialization in the APAC sector in the past years have resulted in a significant change in the technological use to raise the production of goods.

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Major industries witness rapid developments on the technological front comprising electronics and automotive for which polymers are extensively used. North American and European market have gained a significance in the global market due to increase in R&D activities by key players and government support. The key players in the conductive polymers industry include 3M Company, The Lubrizol Corporation, Henkel AG & Co KgaA, Saudi Basic Industries Corporation, Solvay S.A., The DoW Chemical Company, RTP Company, Heraeus Holding GmbH, Premix Oy, and Covestro AG.

Market Segment:

Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
• Acrylonitrile Butadiene Styrene (ABS)
  • Polyphenylene Polymer (PPP)-based Resins
  • Polycarbonate (PC)
  • Intrinsically Conductive Polymers (ICP)
  • Nylon
  • Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
  • Actuators & Sensors
  • Anti-Static Packaging
  • Batteries
  • Capacitors
  • Solar energy
  • Others

Polyphenols Market Worth About USD 1.33 billion By 2024

Global Polyphenols Market is anticipated to reach USD 1.33 billion by 2024. Polyphenols are also known as “Polyhydroxyphenols”. Polyphenols are characterized by the presence of huge multiples of phenol structural components. Polyphenols are characterized by numerous health benefits. As per study, polyphenols play a vital role in reducing and preventing the progression of cancer, diabetes, and cardiovascular & neurodegenerative diseases.

The factors that propel the growth of the Polyphenols Market include increase in demand for herbal products, improvement in health by polyphenol, increase in aged population, anti-aging properties related to polyphenols, R&D activities and technical advancements. On the other hand, there are factors that may hamper the growth of the market including strict administration guidelines and rules regarding tea polyphenols and its supplements, and several side effects related to inappropriate consumption. The industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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Polyphenols industry may be explored by product type, application, and geography. The market may be explored by product type as Apple, Grape Seed, Green Tea, and Others. The “Grape seed polyphenol extract” segment led the Polyphenol Market in 2014 and is anticipated to maintain its dominance by 2024 owing to growing applications of green tea and grape seed polyphenol extracts in verticals such as cosmetics, pharmaceuticals, and food industries.

The key applications that could be explored in the Polyphenols industry include Functional Beverages, Functional Food, Dietary Supplements, and Others. The “Functional Beverage” segment led the polyphenols industry in 2015 and is anticipated to maintain its dominance by 2024 due to growing consumption of nutritive beverages. Asia-Pacific accounted for the major share of the Polyphenols Market Size in 2014 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rising aged populace in China and Japan.

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Some of the key players that fuel the growth of the polyphenol industry comprise Ajinomoto OmniChem Natural Specialities, Naturex, Frutarom Ltd., Indena S.P.A, Diana Naturals, LaynNatural Ingredients Corp, Martin Bauer Group., DSM, Chr. Hansen, ADM, DuPont Danisco, Barry Callebaut, Blue California, Prinova, FutureCeuticals, Amax Nutra Source Inc., Glanbia Nutritionals, Fruitomed, and Cargill Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Jojoba Oil Market Will Reach Height of USD 254.2 million By 2024

Global Jojoba Oil Market is anticipated to reach USD 254.2 million by 2024. Jojoba oil implies a type of liquid extracted from the seeds of jojoba plant. California, Mexico, and Arizona are the three foremost manufacturers of jojoba across the globe. Jojoba oil is nutritious and has high content of fatty acids. These oils find applications in pharmaceutical industry, personal care products, and cosmetics.

The factors that propel the growth of the Jojoba Oil Market include considerable development in overall manufacturing of cosmetics, high nutritional value of jojoba oil derivatives, growing demand for substitute bio lubricant feedstock mainly in established markets, and rising concern regarding side effects of synthetic and chemicals additives used in beverages and food. On the other hand, the fact that jojoba seeds take 5+ years to be accessible could hamper the market.

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Jojoba Oil industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Jojoba Oil industry may be explored by grade type, application, distribution channel, and geography. The market may be explored by grade as Lite Jojoba (Bleached Jojoba) and Winterized Jojoba.

The key applications that could be explored in the Jojoba Oil Market include Pharmaceutical, Cosmetics, Industrial, and Others. The “Cosmetics” segment led the jojoba oil industry in 2015 and is anticipated to maintain its dominance by 2024. It has an impressive lasting conditioning; which has resulted in growing its application in numerous skin care products such as exfoliates, moisturizers, and lotions. The market could be explored based on distribution channel as Online Store, Convenience Store, Hypermarkets/Supermarkets, and Others.

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North America accounted for the major share of the Jojoba Oil Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include the development of the personal care and cosmetic manufacturing in the Mexico and U.S. Growing disposable income with the rising populace has resulted in an enhancing demand for improved beauty products in developing countries of India, China, and South East Asia.

Some of the key players that fuel the growth of the Jojoba Oil industry comprise Charkit Chemical Corporation, Vantage Specialty Ingredients, Inc., Desert Whale Jojoba Company, ECO OIL ARGENTINA, Egyptian Natural Oil Co., Purcell Jojoba International, LaRonna Jojoba Company, Mosselmans and others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Global Glyoxal Market is Booming Worldwide from 2020 to 2024

The Glyoxal market is anticipated to grow at a staggering CAGR in the forecast period. Glyoxal is produced by oxidation of organic compounds. Although the organic compounds are present in low volume in the atmosphere, their presence can trigger the formation of pollutants like organic aerosol and ozone. Commercially, glyoxal is known as dialdehyde and obtained from ethylene glycol.

The glyoxal market is highly driven by increase in industrial activities and rise in oil & gas exploration across the globe. Increase in application use, disposable income, and change in lifestyle of people have contributed to the market growth in the bygone years and will continue to do so during the forecast period.

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The glyoxal industry is segmented by application that comprises leather, textiles, resin & polymers, oil & gas, cosmetics, and paper packaging. Oil & gas and cosmetics segment account for a significant market share owing to frequent demand as an enhancer to boost end- products.

Product segmentation for glyoxal market comprises industrial grade and pharmaceutical grade. Industrial grade accounts for a greater market share in the forecast period, owing to enlarged demand. Increase in glyoxalin across various verticals is anticipated to boost the market growth during the forecast period.

Geographical segmentation for glyoxal industry includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific accounts for a significant market share due to rise in demand from cosmetics and personal care. Additionally, presence of industrial corridor and ongoing R&D activities are likely to boost the growth of APAC’s market.

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North American and European market dominated the glyoxal market owing to increase in rate of use in oil & gas industry. Significant investments by the oil &gas companies made in the MEA regions triggers the market demand. Urbanization factors have been driving the market developments in the U.S. owing to versatile use of glyoxal in various industries. The key players in the glyoxal industry include Dow Chemical Co, Huntsman Corp, INEOS, ME Global B.V., SINOPEC, Clariant, Alberta& Orient Glycol, Nan Ya Plastics Corp. B.V. Shell Chemicals, BASF and ME Global B.V.

Market Segment:

Global Glyoxal Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
• Textile
  • Leather
  • Resin & Polymers
  • Cosmetics
  • Paper Packaging
  • Oil & Gas

Epoxy Coating Market Will Reach Height of USD 41.71 billion By 2024

Global Epoxy Coating Market is estimated to reach USD 41.71 billion by 2024 owing to the growing expenditure on commercial and residential construction in emerging economies across the world. Epoxy is a sealant used for concrete flooring. They are made with best hardening material for any kind of epoxy resin and are well known their quick-drying ability, protective coating and toughness.

As compared to the customary heat cured powder coatings, epoxy coatings can be easily applied, which makes them ideal for a wide range of applications like garage bay floors to concrete protection. Besides, epoxy coatings are applied for concrete repairing, protective equipment coating and anti-corrosive coatings. Overall, epoxy coatings safeguards steel and concrete from corrosion by alkalis and acids, salts and other corrosive factors.

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Due to the advantages of epoxy coatings in safety, health and environment, water-borne epoxy coatings are mostly used in applications like building & construction, commercial and transportation. The amplified use of electronic elements in automobiles is one of the major driving forces of epoxy coating industry.

Water-borne epoxy coatings hold properties like toughness, mechanical strength with thermal and electrical features enable the broad use of water-borne epoxy coatings in numerous industries. Besides, wind energy and aerospace industries are also extensively demanding water-borne resin composites, which is expected to drive epoxy coating market in the coming years.

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Epoxy coating industry is also majorly driven by the growth in coating additives industry. Epoxy coatings are used in different applications like paints and construction. Furthermore, they improve strength, chemical resistance, aesthetics and performance of coatings. In construction industry, epoxies are widely used as adhesives in several forms like epoxy primer and epoxy glue. Rise in demand of additives in several applications because of its performance improvement property is also driving the market positively.

The key trends observed in the market comprise properties like corrosive chemicals, heat, and excellent resistance to ultraviolet light among others. Additionally, epoxy coatings also hold features like exceptional adhesion to metal surface, fibers, glass and remarkable dimensional ability which are expected to fuel epoxy coating market in near future. Nevertheless, strict government regulations to control air pollution and epoxy coatings technology that produce low pollutants are predicted to stimulate the market in future.

However, low performance of epoxy coatings in exterior application and sluggish growth observed in developed economies is expected to be a downside of the market. Besides, extensive growth in end-use industries and low interest on housing loan are anticipated to drive the market in the years to come.

Epoxy coating industry is categorized on the basis of type, application and geography. On the basis of type, the market is divided into powder-based, waterborne, and solvent borne. Waterborne type is predicted to be the fastest groin segment in the industry owing to high toughness and mechanical strength with electrical & thermal properties.

Based on application, epoxy coating market is divided into construction, industrial, transportation, automobile, and paints & coatings. Owing to the growing industrialization and commercialization in the developing Asia Pacific economies, construction and industrial sector is expected to hold larger share in the forecast period.

Geographically, the industry is segmented as North America, Europe, Asia Pacific and RoW. Asia Pacific followed by North America and Europe are expected to dominate the market due to industrial development in the years to come. The key vendors in epoxy coating industry include Akzo Nobel, Axalta Coating Systems, BASF, PPG Industries, KANSAI PAINT, The Sherwin-Williams Company, Berger Paints India, Nippon Paint, Tikkurila, and RPM International.

Polyurethane (PU) Market Will Reach Height of USD 19.18 billion By 2024

North America Polyurethane (PU) Market is expected to reach USD 19.18 billion by 2024. Polyurethane (PU) is a most adaptable plastic material formed by reacting a polyol with a polymeric isocyanate or di-isocyanate in presence of additives and catalyst. It is also termed as polycarbamates. They have high abrasion resistance, low in cost, good low temperature quality, and wide molecular structural variability. North America Polyurethane (PU) Market is estimated to grow at a significant CAGR of 4.2% over the forecast period as the scope and its applications are rising enormously across the globe.

Increasing anxiety regarding energy efficacy in the region, technological enhancement, growing customer awareness regarding thermal insulation, rising shift towards sustainable construction, and presence of major industries in the region are documented as major factors of North America Polyurethane (PU) Market that are estimated to enhance the growth in the years to come. However, poor thermal capability and weather ability and its flammable property may restrain overall market growth in the coming years. North America Polyurethane (PU) industry is segmented based on product type, end use, and region

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Polyurethane elastomers, rigid polyurethane foam, adhesives & sealants, flexible polyurethane foam, polyurethane coatings, and other product types could be explored in North America Polyurethane (PU) in the forecast period. Polyurethane elastomers sector comprises cast polyurethane elastomers, sprayed polyurethane elastomers, and others.

Rigid polyurethane foam sector accounted for the substantial market share of North America Polyurethane (PU) and is estimated to continue its dominance in the coming years. However, flexible polyurethane board is estimated to have high demand from end users like transportation, packaging, furniture, bedding, textiles, and others as they have good handling strength, durability, energy absorption property, and resiliency.

The market may be categorized based on end users like packaging, furniture & bedding, footwear, construction, automotive, electronics & appliances, and others that could be explored in the forecast period. Construction sector accounted for the substantial market share of North America Polyurethane (PU) and is estimated to lead the overall market in the coming years. This may be because of high spending in the United States, to improve public infrastructure and existing road. Also, electronics & appliances id estimated to grow at fastest pace with significant CAGR in the coming years.

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The United States accounted for the substantial market share of North America Polyurethane (PU) and is estimated to lead the overall market in the coming years. The reason behind the overall market could be high demand for PU products from several end users like automotive, furniture, packaging, and construction and high consumer disposable income.

Mexico follow suit and is estimated to have a positive influence on the future growth. Also, it is estimated to grow at significant CAGR in the coming years. The aspects that may be ascribed to the growth comprise growing demand for lightweight and energy-efficient materials.

The key players of North America Polyurethane (PU) Market are Alchemie Ltd., BASF, Mitsui Chemicals America, Inc., The Dow Chemical Company, Tosoh America, Inc., Bayer Material Science, and Huntsman Corporation. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.