Flat Steel Market Analysis, Size, Share Growth, Trends Forecast to 2023

Market Insights:

Flat steel products refer to semi-finished steel products such as sheets and plates. The global flat steel market is expected to capture a modest CAGR of 6% over the forecast period of 2019-2025, asserts Market Research Future (MRFR) in an in-depth study. The global flat steel market was valued at USD 380 Bn in 2015.

Flat steel products are of immense importance to steelmakers since they are used in diverse applications across various end-use industries. Application in automobiles, construction, shipbuilding, industrial machinery, and domestic appliances are among the primary uses of flat steel.

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Booming construction industry acts as a major drive behind the growth of the global flat steel market. Hot rolled flat steel sheets are extensively used in the construction industry since they can be used to form large-sized structures. Lower cost and malleability make them more desirable for mass applications. Rebound in constructional activities in the US and across Europe has initiated solid growth within the global flat steel market.

The automotive industry too is a key end user of the global flat steel market. Flat steel products such as hot rolled coils & sheets find their application in wheel-disc in the automotive segment. Typical applications of cold rolled steel sheets involve automotive bodies since they can be painted better than hot rolled steel. Growth in the consumer durable sector will also support demand for steel products.

Rise in infrastructural activities across the globe, especially in the emerging economies is responsible for shaping the growth of the global flat steel market. Construction of highways, bridges, airports, ports, water transportation, pre-fabricated buildings, and power projects purveyed by government funding for the same induces high demand within the global flat steel market. Other factors substantiating the growth of the market include robust growth in demand for flat steel products used in the manufacturing industry.

On the other hand, the growth of the global flat steel products market might be affected negatively by fluctuations in the price of raw materials.

Industry Segmentation:

The global flat steel market has been segmented based on end user and product type.

By end-user, the global flat steel market has been segmented into automobiles, construction & infrastructure, transport, and others. In developed countries, flat steel products are always in demand in the automobile sector. Flat steel is extensively used in the building & infrastructure sector due to advantages associated with flat steel such as design flexibility, high strength, and increased durability. It also reduces maintenance costs. In the energy sector, flat steel is used for the development of infrastructure.

By product type, the global flat steel market has been segmented into coated sheet, cold rolled sheet, hot rolled sheet, and plates.

Regional Analysis

The key markets for flat steel include Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).

The global flat steel market is dominated by APAC. The booming construction industry and ongoing extensive infrastructural activities taking place in the developing economies of the region such as China, India, and Japan have created favorable growth opportunities for the flat steel market. South Korea too is a significant market in the region.

Europe is the second largest market for flat steel driven by the existence of various key players in the region. The steadily growing automotive industry is a key growth influencer of the Europe flat steel market. Austria, Germany, France, Luxembourg, Sweden, and the UK are the key contributors to the Europe market. However, some key players are hiking the price of flat steel in the region which might affect the growth of the market adversely.

North America market is driven by similar factors as Europe and is expected to showcase substantial growth over the forecast period. The reviving construction industry in the region is likely to augur well for the growth of the market.

Competitive Landscape

The key players in the global flat steel market include POSCO (South Korea), SSAB (Sweden), Essar Steel (India), Nippon Steel & Sumitomo Metal Corporation (Japan), United Steel Corporation (USA), ArcelorMittal (Luxembourg), Hyundai Steel Co. (South Korea), ThyssenKrupp (Germany),

Voestalpine (Austria), and Tata Steel Ltd (India).

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Fermentation Chemicals Market Analysis, Growth, Size, Share and Forecast to 2023

Market Insights:

Fermentation chemicals play a vital role in chemical reactions. They act as an initiator or catalyst in chemical reactions. The application of fermentation chemicals in the production processes in end-use industries, such as pharmaceutical, food and beverage, and cosmetics, helps to save time and production cost. The fermentation chemicals comprise sugar, starch, corn, and other vegetable feedstocks. The growing preference for organic feedstocks over synthetic feedstocks by major manufacturers in the fermentation processes is expected to be the major factor driving the growth of the global fermentation chemicals market. The growing awareness among consumers regarding organic food consumption has urged major food manufacturing companies to shift towards bio-based raw materials, which is also expected to fuel the growth of the market during the forecast period.

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Segment Analysis:

The global fermentation chemicals market is segmented based on product type and application. By product type, the global market has been segmented into alcohols & ketones, amino acids, industrial enzymes, organic acids, and others. Alcohols & ketones consist of ethanol, butanol, BDO, and acetone. The segment accounted for a major share of over 30% of the global market in 2018 and is expected to follow the trend during the forecast period. Alcohols are majorly used in the production of various food, such as bread and pickles, as well as beverages. The increase in consumption of alcoholic beverages and preference for heavy and on-the-go breakfast regime are factors expected to boost the demand for fermentation chemicals during the forecast period. The use of enzymes as active ingredients in detergents, industrial cleaners, and pre-treatment of biofuels is also expected to boost the demand for the product. The growing concerns regarding the depletion of oil reserves and inflating fuel prices are expected to increase the demand for the product in biofuel production during the forecast period.

Based on application, the global market has been divided into food & beverages, plastics & fibers, nutritional & pharmaceuticals, industrial application, cosmetic & toiletry, and others. The plastic & fiber segment accounted for the largest market share and is expected to maintain its dominance throughout the forecast period. The growth is attributed to the growing concern among government bodies and other agencies regarding non-degradable plastics. The imposition of ban on single-use plastics by various government bodies such as European Commission and ASTM International is promoting the use of biodegradable plastics, which is expected to fuel the growth of the global fermentation chemicals market. For instance, starch-based plastics are majorly used in various end-use industries such as automotive, agriculture, and packaging.

Competitive Analysis

• Koninklijke DSM N.V.
• Cargill, Incorporated
• BASF SE
• Archer Daniels Midland Company
• Ajinomoto Co., Inc
• Hansen Holding A/S
• Novozymes
• DowDuPont Amano Enzyme Inc
• AB Enzymes
• Evonik Industries AG
• EUROSANEX
• INVISTA

Regional Analysis

The global fermentation chemicals market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. In terms of value, the North American market is estimated to hold more than one-third of the global market share and be the dominant market throughout the forecast period owing to the growing use of bio-based raw materials while mitigating the rising price of oil and natural gas. In addition, the growing demand for biodegradable plastics and ethanol fuel is expected to further boost the demand for fermentation chemicals in the region. The Asia-Pacific market is expected to exhibit the highest CAGR during the forecast period due to the growing demand for fermented chemicals in pharmaceutical production coupled with the growing adoption of organic food and beverages. In Europe, stringent environmental regulations regarding the use of petroleum-based products have increased the production of green bio-based products, which is expected to boost the growth of the market for fermentation chemicals. The increasing application of fermentation chemicals in the oil and gas well treatment processes is expected to boost the growth of the Middle East & African market during the forecast period.

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EMI and RFI Shielding Materials Market Growth 2019, Size, Share, Trends and Analysis by 2023

Market Research Future published a cooked research report on EMI & RFI Shielding Materials Market. The EMI & RFI Shielding Materials Market is expected to expand at 6.50% CAGR during the period (2018-2023)

Market Overview:

Market Research Future (MRFR) projected the Global EMI and RFI Shielding Materials Market size to touch a valuation of USD 11,210.81 million by 2023. Factors fueling market growth include development of telecommunication infrastructure, compliance with electromagnetic compatibility (EMC)/electromagnetic interference (EMI), and application of EMI shielding on electronic applications. The market can exhibit a stupendous 6.50% CAGR during the forecast period (2018-2023).

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Massive demand for high Internet speeds from end-users has led to massive investment by telecom providers. The use of EMI and RFI coatings to prevent loss of information due to interference can drive market demand exponentially. Deployment of 5G technology in the U.S. and South Korea is likely to offer new expansion opportunities for the market.

But high costs of shielding can act as a growth deterrent.  

Competitive Analysis:

·         Chomerics

·         Laird PLC

·         PPG Industries, Inc.

·         Henkel AG & Co. KGaA

·         RTP Company

·         3M

·         Schaffner Holding AG

·         Tech-Etch, Inc.

·         AI Technology, Inc.

·         Orion Industries Incorporated

·         MAJR Products

·         Holland Shielding Systems BV

Segmentation Analysis:

The global EMI and RFI shielding materials market is segmented by material, product, and end-use.

By Materials, metals accounted for 48.36% share in 2017, followed by plastics & polymers, mu-metal, conductive elastomers, carbon & graphite, and others . This can be attributed to the use of metals in EMI shielding components, EMI enclosures, and EMI shielding coatings. On the other hand, plastics and polymers can exhibit 7.02% CAGR over the assessment period owing to the wide scope for metal-filler plastics.

By Product, coatings & paints is expected a robust growth of CAGR by 2023. This can be attributed to the enhanced EMI and RFI shielding property and aesthetic appeal it offers to devices. But the tapes and laminates segment can accrue a robust CAGR due to its corrosion resistance, electrical conductivity, and 100% shielding.

By End-use, consumer electronics accounted for 48.78% share in 2017, followed by IT & telecommunication and automotive.). Consumer electronics can exhibit 6.66% CAGR during the forecast period. The use of RFI and EMI shielding materials on flat screen displays, laptops, and smartphones can drive the segment growth. The growth is also facilitated by deployment of novel networking technologies. On the flip side, the automotive segment can exhibit 6.10% CAGR during the forecast period. This can be credited to the integration of new electronic devices which warrant EMI and RFI shields.

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Regional Analysis:

Geographically, the EMI and RFI shielding materials market is segmented into Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East & Africa (MEA).

The APAC region accounted for the largest market share in 2017 and is expected to register a CAFR of 6.89% during the forecast period. The explosive growth in consumer electronics and IT & telecommunication sectors can fuel the demand for EMI and RFI shielding materials.

The North America region held close to 20.54% share of the EMI and RFI shielding materials market due to intense demand for consumer electronic devices. The aerospace industry offers a prime opportunity for the market to capitalize on. Aircraft have fallen prey to lightning and solar flares which have caused radiofrequency interference leading to fatalities. RFI shielding materials can help avert disasters and induce the demand for RFI-coated printed circuit boards.

Latin America is touted to exhibit moderate CAGR during the assessment period. This can be attributed to rapid use of smartphones by consumers and development of telecommunication infrastructure to cater to online consumption demands of users.

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Chlorobenzene Market Challenges, Key Vendors, Drivers and Trends by Forecast to 2025

Market Overview:

The Global Chlorobenzene Market is projected to reach USD 3,146.50 by 2025 exhibiting a CAGR of 5.7%. Chlorobenzene is a colourless liquid used as a solvent, degreasing agent, and chemical intermediate. It belongs to the family of organic halogen compounds. Chlorobenzene is used in the manufacturing of organic chemicals, insecticides, pigment, dyes, paints, textiles, and cosmetics.

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The chemical industry across the globe is witnessing healthy growth due to the increase in the demand in the industries such as construction, automotive, and electronics. Industrialization and urbanization in Asia-Pacific supported by low labour cost and economic growth are also favouring the growth of the industry. Thus, the growth of the chemical industry is expected to fuel the demand for chlorobenzene.

Chlorobenzene is significantly used in the production of fertilizers and agrochemicals. The growth of the market is driven by expanding agricultural industry in emerging countries. In addition, the adoption of advanced technologies such as genomics, organic farming, and agricultural biotechnology is further expected to boost the growth of the industry and drive the global chlorobenzene market growth.

Market Segmentation

The global chlorobenzene market has been segmented on the basis of type, application, and region. Monochlorobenzene, o-dichlorobenzene, p-dichlorobenzene, m-dichlorobenzene, tetrachlorobenzene, trichlorobenzenes, hexachlorobenzene, and others are the segments based on type. The monochlorobenzene segment held significant market share in 2017 and is projected to be the dominant segment owing to its increasing application in the chemical and polymer industries. The hexachlorobenzene segment is projected to register a healthy CAGR on account of the growing need to increase the yield of the crops.

The paints, cosmetics, adhesive, textiles, pharmaceuticals, chemical, rubber & polymer, and others are the application segments of the global market. Chemical application segment is expected to grow at remarkable pace owing to high demand for polymers in the automotive industry led by growing adoption of lightweight automobile components across the globe.

Competitive Analysis

·         Chemieorganics Chemical India Pvt.Ltd

·         Aarti Industries Limited

·         China Petroleum & Chemical Corporation

·         Kureha Corporation

·         LANXESS

·         Seya Industries Ltd

·         Panoli Intermediates India Private Limited

·         J&K Scientific Ltd

·         Jiaxing Zhonghua Chemical Co.LTD

·         Meryer

·         Chemical Technology Co., Ltd

Regional Analysis

The North America market is expected to register a healthy CAGR during the forecast period owing to the expanding electric vehicles, cosmetics, textile, pharmaceuticals, paints, and adhesive industries. In addition, the increasing demand for cosmetics due to change consumer grooming trends has surged the application of chlorobenzene.

Asia-Pacific is projected to be the fastest-growing market. The governments of developing countries in the region are highly investing in the manufacturing of electric vehicles, where chlorobenzene significant used to enhance the speed and design. The growth of the European chlorobenzene market is driven by its increasing application in the manufacturing of lightweight aircraft components.   

The Middle East & Africa and Latin America are expected to register healthy growth in terms of revenue owing to the high demand for chlorobenzene in polymer, rubber, chemical, and cosmetics industries.

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Basalt Fiber Market Trend Analysis, Growth Status, Revenue Expectation to 2024

Market Insights:

The global demand for basalt fiber has witnessed significant growth over the past couple of years, owing to the increasing demand for high-performance applications particularly in the end-use industries such as automotive and aerospace &defense. The market for basalt fiber is expected to register a CAGR of 8.9% to reach USD 102.4 Million by 2024.

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Segment Analysis

The global basalt fiber market has been segmented based on form, product type, end-use industry, and region. Based on form, basalt fiber market has been divided into continuous and discrete. The continuous basalt fiber segment is projected to account for three-fourths of the global basalt fiber market. These fibers are widely used across the automotive and construction industries, as they are stronger and more environment-friendly than discrete basalt fiber. The demand of continuous basalt fibers in the electrical and electronic industry is expected to expand at a rapid pace during the forecast period. Furthermore, continuous basalt fiber is highly preferred in the construction industry due to higher reinforcement strength and high resistant to electromagnetic radiations and ultraviolet rays.

By end-use industry, the global basalt fiber market has been compartmentalized into construction, automotive, aerospace & defense, electrical and electronics, chemical, marine, and others. The construction and automotive segments accounted for a significant share of the global basalt fiber market in 2018. Furthermore, increasing implementation of basalt fiber, as a replacement of steel reinforcement and in the retrofitting of various concrete structures, is projected to propel the demand during the forecast period. In the automotive industry, basalt fiber is used in fireproof materials, brake pads, mufflers, headliners, and various other interior applications. Hence, with the increasing production of automobiles especially in emerging economies such as India, China, ASEAN countries, and Brazil, the basalt fiber market is projected to witness considerable growth during the forecast period.

Competitive Analysis

The demand for basalt fiber has increased significantly over the past couple of years. Hence, to carter the growing demand, manufactures are investing in increasing their production capacities. For instance, in 2017, Jilin Huayang New Composite Materials Co., Ltd opened a production plant with an annual capacity of 30,000 tons of basalt fiber.

• Technobasalt Invest LLC
• Galen Ltd
• Kamenny Vek
• Albarrie Canada Limited
• Zhejiang GBF Basalt Fiber Co., Ltd
• Mafic SA
• Sudaglass Fiber Technology
• Shanxi Basalt Fiber Technology Co., Ltd
• Basaltex
• INCOTELOGY GmbH
• Mudanjiang Basalt Fiber Co., Ltd
• Arrow Technical Textiles Private Limited
• Russian Basalt LLC
• JiangSu Tianlong Continuous Basalt Fiber Co. Ltd
• HDM

Regional Analysis

Based on region, the global basalt fiber market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe and North America are expected to hold significant shares of the global market which can be attributed to the high demand for lightweight and strong materials in the automotive and construction industry. The Asia-Pacific market is projected to record a relatively higher CAGR during the forecast period, on the account of increasing automotive production and rising investments in the infrastructure development. 

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Ceramic Fiber Paper Market Share, Industry Size, Growth, Opportunities & Forecast till 2023

Market Overview:

Asia-Pacific, North America, Europe, and Rest of World are the regions analyzed under the scope of the report.

The emergence of China as a global manufacturing hub is one of the major factors supporting the growth of the ceramic fiber paper market in Asia-Pacific. China and India account for significant shares of the manufacturing sector. Rapid industrialization combined with economic growth is driving the growth of the regional market. However, there is a lack of awareness regarding insulation through ceramic fiber paper in some countries in the region. The market in Asia-Pacific was valued at USD 162.7 million in 2018 and the Indian market is expected to register the highest growth rate during the forecast period.

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The growth of the North American market is driven by the growing renovation & construction, expanding aerospace & defense and automotive industries in the region. The US is projected to be the dominant market registering the highest CAGR of over 8% during the period, 2019–2026. As per MRFR analysis, the growing preference for energy-efficient products and services is expected to drive the demand for ceramic fiber paper in the region.

The European countries such as France, Spain, and Italy are likely to showcase prominent growth in the coming years. The European Union has set several regulations on carbon emissions influenced by rising awareness of insulation and its benefits on energy-saving operations including in the petrochemicals industry. The regional market is set to grow due to the expansion of several industries such as real estate, aviation, and automotive.

The demand for ceramic fiber paper is likely to rise in South America, especially in Brazil and Argentina in the coming years. Improving economies in these countries has provided the scope for market players to increase their presence in the region. However, the dependency on raw materials in the Middle East & Africa is a key factor for the sluggish growth of the regional market. The large-scale oil & gas extraction and production and growing construction industry are expected to drive the demand for ceramic fiber paper in the region. As per MRFR analysis, government initiatives to boost the tourism industry is resulting in significant investments, are expected to fuel the regional market growth during the forecast period.

Competitive Dashboard:

·         Morgan Advanced Materials

·         Rath-Group

·         Unifrax I LLC

·         Lydall, Inc

·         Thermostat Thermotech Co., Ltd

·         Great Lakes Textiles

·         Ibiden Co. Ltd

·         Yeso Insulating Products Company Limited

·         Grupo Nutec, SA

·         KT Refractories US Company

Segmental Analysis:

The global ceramic fiber paper market has been segmented by thickness type, application, and region.

Based on thickness type, the global ceramic fiber paper market has been segmented into 1 mm, 2 mm, 3 mm, and others.

By application, the global ceramic fiber paper market has been categorized into construction, aerospace, petrochemical, automotive, and others.

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Tungsten Carbide Powder Market Analysis, Size, Share Growth, Trends Forecast to 2023

Market Overview:

Tungsten carbide powder is a chemical compound that comprises atoms of tungsten and carbide and is produced by reacting tungsten powder with high purity carbon at temperatures between 1300–1600C in hydrogen atmosphere. It is the most conventional process to produce tungsten carbide powder and known as carburization. Owing to its unique properties such as hardness, high modulus of elasticity, and strong electrical and thermal conductivity, tungsten carbide powder has found applications in several end-use industries such as building & construction, oil & gas, automotive, mining, and aerospace & defense.

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The market for tungsten carbide powder is driven by the increase in demand for hard-wearing machinery tools for cutting, drilling, and mining purposes. Furthermore, the growing building & construction and automotive industries are is expected to have a significant impact on increasing demand for tungsten carbide powder materials, thereby propelling the growth of global tungsten carbide powder market. The rapid industrialization in Asia-Pacific is also expected to boost the growth of the market during the forecast period.

 Industry Segmentation:

The global tungsten carbide powder market is segmented by grade, application, end-use industries, and region. 

Various grades of tungsten carbide powder are available in the market such as rotary drilling & mining, metal forming & wear, submicron, corrosion resistant, general purposes, and others. Among these, the rotary drilling & mining grades are the leading segments in the market owing to high impact resistance, stiffness, and ability to perform in severe conditions.

The application segment includes cutting tools, wear parts, roll & die, diamond tools, mining tools, and abrasive products. The carbide cutting tools are often used for machining through materials such as carbon, stainless steel, and in situations where other tools would wear away. They offer a better finish and allow faster machining at a much higher temperature than standard high-speed steel tools.

The mining & construction end user segment is leading the market growth owing to the high product demand in top-hammer rock drill bits, downhole hammers, roller-cutters, longwall plough chisels, longwall shearer picks, raise boring reamers, and tunnel boring machines. This growth is attributed to its superior properties such as resistance to abrasion & impact, toughness, and hardness.

Competitive Analysis

• Sandvik AB
• Kennametal
• CERATIZIT S.A.
• Federal Carbide Company
• GuangDong XiangLu Tungsten Co.,Ltd
• Nanchang Cemented Carbide Co., Ltd.
• JAPAN NEW METALS CO., LTD.
• Umicore
• ChinaTungsten
• C. Starck GmbH
• Reade International Corp.
• Merck KGaA

Regional Analysis

The global tungsten carbide powder market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia Pacific dominated the global tungsten carbide powder market in 2016 on account of the high demand from the major end-use industries such as construction, transportation, and aerospace in countries such as Japan, India, China, and others.

North America was the second largest region in the global tungsten carbide powder market in 2016 owing to the high demand from the military & defense, automotive, and aerospace industries.

The high product demand from the manufacturing of various automotive parts in Western European countries is likely to influence the market growth.

The Latin American region is expected to grow significantly due to the growing automotive industry in the region.

The increasing exploration of oil & gas reserves and infrastructural hub present in the GCC countries is likely to drive the market in the region.

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Steel Processing Market - Comprehensive Analysis, Market Segments, Key Players and Opportunities 2016-2023

Steel Processing Market Overview to 2022:

Steel processing is done to produce varied intermediate steel products which serve as inputs to business in other industries. As per the analysis of market Research Future (MRFR), the global steel processing market is expected to reach USD 600 Bn at a CAGR of 2% by the end of the forecast period of 2016-2022.

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Steel is the most widely used structural material in the world and practically finds application in almost all industries. The global steel processing industry is growing in tandem with the increase in global industrial production. High industrial output in advanced economies along with rapid industrialization in the developing countries has provided impetus to the growth of the global steel processing industry. Steel forms an indispensable part in a myriad of products. The urban population requires a massive amount of new steel products which boosts the growth of the market.

Increasing infrastructural activities, especially in the developing countries induce high demand within the steel processing market. Steel is largely used in the making of railway tracks, roads, bridges, and others.

Constructional activities around the globe have also picked up pace in recent years. Government support towards the housing industry has also propelled residential construction which provides a boost to the global steel processing market. The automotive sector also generates a substantial share of the global market demand.

Continuous modernization and up gradation of steel processing plants and advancement in processing technology has reflected favorably on the market growth. Besides, the steel processing industry has witnessed an influx of major investments and developments in the recent past which has fostered the growth of the market.

Competitive Landscape

·         Tata Steel Ltd

·         Hyundai Steel Co.

·         ThyssenKrupp AG

·         Steel Authority of India Limited

·         Bridon International Ltd

·         Hebei Iron & Steel Co Ltd,

·         Kobe Steel, Ltd.

·         Jiangsu Shagang Group Company Limited

·         Severstal PAO

·         Maanshan Iron & Steel Company Limited

Industry Updates

February 2019- Steel Authority of India Limited (SAIL), inaugurated its new steel processing unit in Champaran, Bihar. An investment of 1.16 billion has been made on ten same and the production facility will churn out high-quality steel tubes and pipes.

Industry Segmentation:

The global steel processing market has been segmented based on steel type and application.

By steel type, the global steel market has been segmented into Alloy Steel, and Carbon Steel. The carbon steel segment is expected to lead the global market. Being harder than alloy steel, carbon steel is extensively used for construction purposes.

By application, the global steel processing market has been segmented into Construction, Energy, Automotive, Consumer Goods and others. Application-wise, the construction segment is expected to dominate the market.

Regional Analysis:

Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW) are the key markets for steel processing.

APAC market for steel processing is expected to showcase rapid growth over the forecast period due to large-scale industrialization taking place in the region. The major shift in manufacturing base in APAC has further accelerated the growth of the steel processing market in the region. Availability of relatively cheap labor and land coupled with ease of operations purveyed by favorable government policies has led to set up multiple steel processing plants in the region. Infrastructural development in the region generates high demand for processed steel. Availability of iron ore in abundance in the region is also a factor that cannot be ignored. China, India, Japan, Brazil are among the countries with high steel production capacity.

North America too is a significant market for steel processing driven by continuous demand for steel from various industries. The US is among the world's top steel producing economy.

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Specialty Tapes Market Trend Analysis, Growth Status, Revenue Expectation to 2023

Market Synopsis

The global specialty tapes market is expected to grow at 6% CAGR to reach USD 62 billion by 2025. Specialty tapes are used in a wide array of applications such as electronic appliances, white goods, automobiles, aircraft, marine, paper, packaging, retail, and consumer goods among others. Electrical & electronics segment generated major revenue for the specialty tapes market. Expanding healthcare industry in the developing markets with increased spending on healthcare is expected to create lucrative opportunities for the players operating in the global market.

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Regulatory Analysis

Prevalence of stringent regulation to reduce VOC emissions affecting the surrounding environment and human health is affecting the market growth. Some of the regulatory authorities regulating the VOC emissions include-

• US Environmental Protection Agency, EPA (US)
• International Maritime Organization, IMO (UK)
• European Commission (Europe)

Market Segmentation:

By Resin Type

• Acrylic
• Rubber
• Silicone
• Others

By Backing Material

• Polyvinyl Chloride (PVC)
• Woven/Non-Woven
• Paper
• Polyester (PET)
• Foam
• Polypropylene
• Metal
• Glass Cloth
• Polyethylene
• Others

By Application

• Electrical & Electronics
• Healthcare
• Automotive
• Consumer Goods
• Paper & Printing
• Building & Construction
• Retail & Graphics
• Aerospace & Defense
• Marine
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Regional Analysis

North America: The North American specialty tapes market accounted for 23% share in 2018. North America has established automotive, healthcare, electric and electronics industry which have a huge demand for specialty tapes.

1. US: The US is one of the largest manufacturing hubs in the world and has the largest healthcare industry globally. Reviving automotive industry with increased production of lightweight and energy-efficient vehicles is likely to propel the market growth.

Europe: The European specialty tapes market comprises around 20% of the global specialty tapes market. The market growth can be attributed to factors such as reviving automotive industry with increasing production of electric, hydrogen cell fuel, and lightweight vehicles; increased spending on R&D activities to bring technological advancements in healthcare industry and expanding consumption of portable technologically advanced consumer electronics. Growing building & construction industry with increased spending on residential construction particularly in eastern European countries is projected to propel the market growth.

1. Germany: Germany accounted for the largest share of the overall consumption of specialty tapes in Europe owing to presence of established automotive, healthcare, and electrical & electronics end-use industries.
2. The UK- The demand for specialty tapes in the UK is expected to increase on account of growth of the major end-use industries with rapid technological advancements.

Asia-Pacific: Asia-Pacific was the largest and fastest-growing market for specialty tapes accounting for 48% market share. Expanding automotive and electrical & electronics industries are the major revenue-generating segments in Asia-Pacific. 

1. China: China accounted for the largest share of the specialty tapes market in Asia-Pacific in 2018 and is projected to register significant growth rate in the coming years. China being the world’s largest manufacturing center for electronics is the prime factor fueling the demand for specialty tapes. The electric component manufacturing industry in China grew by around 11% in 2018 to reach to over USD 282 billion. Additionally, the growing healthcare industry with easy access to medical services in the nation is another important factor driving the market growth.
2. India- India was the fastest growing nation in Asia-Pacific owing to growing automotive, healthcare, and electrical & electronics industry. In 2018, overall automobiles production in India grew by around 8% owing to increased spending on automobiles coupled with rising per capita disposable income of the consumers.

Latin America: The market in Latin America is expected to grow at a healthy CAGR during the review period on account of growing major end-use industries particularly, the automotive industry.

1. Brazil: Growing automotive industry is the prime factor fueling the demand for specialty tapes in the country. Automobiles production in the country grew by around 5.2% in 2018 and is expected to grow further at a significant rate in the coming years.

Middle East & Africa: Growing industrialization in the Middle East and African countries is expected to drive the growth of the specialty tapes market in the region.

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Polyurea Coatings Market Development Status, Opportunities, Competitive Landscape and Growth by Forecast 2023

Market Overview:

The global polyurea coatings market, as per a report by Market Research Future (MRFR) is touted to register a healthy CAGR during the forecast period (2018-2023).

Surging investments in the development of infrastructure and significant boom in the paints & coatings industry globally are set to accelerate the polyurea coatings market during the review period. Rising consumer awareness regarding the extensive use of high-quality waterproofing coating in residential buildings is further estimated to augment the market growth in the next few years. The market has witnessed a tectonic surge over the past few years due to rising use of containment solutions in construction and mining owing to the increased focus on environmental protection. Increased use of waterproofing membranes in the construction sector is further influencing the usage of polyurea as a raw material in the manufacturing of finished products. Polyurea is also highly used due to its high aesthetic value. Such factors trigger the demand from the market across the globe.

On the contrary, the proliferation of polyaspartic and polyurethane coatings due to attributes such as low wear & tear will pose a credible threat to the entire polyurea coatings market. Also, predominant consumption of epoxy-based coatings due to its low price will deter the market growth in the foreseeable future.

Competitive Dashboard:

·         The Sherwin-Williams Company

·         VersaFlex Incorporated and The Polyurea People

·         Rhino Linings Corporation.

·         PPG Industries, Inc.

·         Huntsman International LLC.

·         KUDKO CHEMICAL CO. LTD.

·         Rust-Oleum

·         Armorthane

·         Lse Building Preservation Ltd

·         SPI Performance Coatings

Segmental Analysis:

The global polyurea coatings market has been segmented based on raw material, type, technique, end use industry.

By type, the market is segmented into hybrid polyurea coatings and pure polyurea coatings. Of these, the hybrid polyurea coatings segment will acquire the largest share owing to its low cost, superior compatibility with concrete and metal structures, and excellent abrasion and moisture resistance in industrial, building & construction, chemical, and automotive industries.

By raw materials, the market is segregated into aliphatic isocyanate and aromatic isocyanate. Of these, the aromatic isocyanate-based Polyurea Coating commands the largest share owing to the low cost of the product.

Considering the technique segment, the market is classified into pouring, spraying, and hand mixing. Among these, the spraying technique held the largest share in 2017 owing to several benefits over other techniques like less application time, uniform coating thickness, and increase performance efficiency.

The end use industry of the polyurea coatings market comprises automotive, building & construction, chemical, industrial, and others. Among these, the building & construction segment dominated the global market in 2017 and is estimated to continue leading the market owing to broad range of applications in waterproof roofing, waterproofing buildings, decks, car parking, bridges, containment liners, and offshores due to properties like moisture resistance, high weather resistance, abrasion resistance, and corrosion resistance properties.

Regional Frontiers:

Geographically, the polyurea coatings market spans across North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.

Considering the global scenario, North America will acquire the lion’s share due to the increasing repairing and renovation activities in the region. Owing to looming infrastructure renovation projects in the U.S., the market is likely to gain a major boost in the long run.

Europe acquires the second position in the global market, mainly due to increased demand for polyurea coatings from the established players of the automotive industry. Strict mandates imposed against the use of products with high VOC content has further encouraged the market growth in the region.

The Asia Pacific will expand at the fastest rate owing to rising investments, especially in the emerging nations. Also, rapid urbanization and industrialization in the region have influenced the market growth to a large extent. The presence of huge automobile industry in China is further adding fuel to the demand from the market. The building and construction industry in the APAC is experiencing a major expansion, which is likely to brighten prospects for the market.

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