Folic Acid Market Size Worth $466.2 Million By 2025

When it comes to Folic Acid Market, there are several factors which are causing the market to grow leaps & bounds. Increasing consumption of folic acid in promising applications in various verticals of pharmaceuticals and nutraceuticals sectors coupled with strict regulations is expected to propel the global market demand. Raising its utilization in food and beverage industry to increase the folic acid food fortification particularly in developed economies such as North America and Europe is also predicted to impact the global folic acid market positively. All these factors along with several other positive ones lead the market to reach expected growth of USD 466.2 million by 2025, according to a new report by Grand View Research, Inc.

Folic acids or Folate or vitamin B9 is a type of water-solvent vitamin required by the body to produce red platelets, and its deficiency causes anemia. Additionally, it is involved in the normal body development and advancement, generation of genetic materials, for example, DNA and RNA and other essential chemical & physical functions. It encourages cell and tissue growth and development. Folic acid is used in multivitamins supplements because it is better absorbed.

Folic acid support fetal development by preventing the risk of birth defects promotes sperm viability, improves cardiovascular system by minimizing the risk of heart attack, encourages normal cholesterol levels, provides neurological support, and helps perinatal mood management. Vitamin B9 is an essential nutrient found green and leafy vegetables, peas, broccoli, oranges, corn, grains meats, and cereal. Significant folic acid deficiency can lead to macrocytic anemia

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Further key findings from the report suggest:

Rising occurrence of diseases and pandemic like COVID-19 makes it essential to develop new set of pharmaceuticals; and rising growth of pharmaceuticals and neutraceuticals leads to spurt in the growth of Folic Acid demand.
According to WHO, Globally, anemia affects 1.62 billion people, which corresponds to 24.8% of the population. The highest prevalence is in preschool-age children and the lowest prevalence is in men. Folic acid has proven benefits in fighting anemia. Large anemia affected population causes a growth in demand for Folic Acid.
Folic Acid is used in body supplements and is involved in the normal body growth & development, production of genetic materials such as DNA and RNA and several other bodily functions. This makes it indispensable for the healthcare industry.
Folic acid food fortification has been made compulsory in many developed economies such as the U.S., New Zealand, UK, and Australia. This fuels the market as well.
Folic Acid plays a major role in providing support to a pregnant mother in taking care of the baby, leading to the increased demand in the market.
Folic Acid is used in additives for the animal feed to help them grow devoid of any deformities and boost their immune system, leading to additional demand in the market.
Some Environment Protection Laws work against the manufacturing of Folic Acid. This proves to be an inhibiting factor for the market.
In the time pandemic (COVID-19), it is extremely important to keep your immune system at its peak. According to scientists, Folic Acid has several immune related benefits and along with other B complex vitamins, it plays a major role in keeping immune system up and running. In India, the National Nutrition Mission (NNM) has been set up with a three year budget of Rs.9046.17 crore commencing from 2017-18. The NNM is a comprehensive approach towards raising nutrition level in the country on a war footing. Iron and Folic Acid (IFA) supplements will be given and mapped in the country.

Fiberglass Flooring Market Size Worth $987 Million By 2025

Fiberglass Flooring Market is expected to reach USD 987 million by 2025, according to a new report conducted by Grand View Research, Inc. Fiberglass exhibits superior properties compared to felt backing including longer lifespan and non-allergen and this is anticipated to increase its usage tremendously over the upcoming years. Moreover, its weight and bulk strength are better than many metals, and it can be easily molded into complex shapes which are projected to aid in market augmentation.

In these modern times, one’s residence is not just a place to live in comfortably but also a sign of the owner’s social status. With increasing disposable income in the world all around, standard of living is also rising exponentially. A good interior design of the house is a sign of comfortable living along with being a mark of high standard of living; and fiberglass floorings are becoming an essential part of home interior design, not just because of the aesthetic value but also due to several other properties which makes it indispensable for a comfortable home.

Market Dynamics

The growing population and increasing per capita income coupled with rapid urbanization are expected to drive the market demand. Moreover, the rapid growth of the industrial sector is projected to spur the product’s usage for the construction of offices and facilities, which in turn, will aid market development over the upcoming years.

The growing commercial construction sector in India is expected to spur the growth of the fiberglass flooring market. Moreover, the continuing trend of economic development and population growth in the country is expected to drive the requirement for residential buildings, which in turn, will stimulate market expansion.

Recent worldwide pandemic of COVID-19 has hurt the global economy position and pushed it into a recession. This is going to cast an inhibiting shadow on the growth of fiberglass flooring market.

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Further key findings from the report suggest:

Eliane Coatings unites its nearly expertise 60 years in the Brazilian ceramic tile industry to the global reach of the Mohawk Industries, Inc. in a transaction involving the sale of 100% of the shares of Santa Catarina industry for the US group. With the deal, the Brazilian company accelerates its strategic plan for growth and investment, what the medium and long term an increase in the number of jobs and productive capacity of the six plants located in Santa Catarina (Cocal do Sul and Criciúma) and Bahia (Camaçari), and the strengthening of the distribution center in Dallas, USA.
Mannington Mills announced that it has signed an agreement to acquire Phenix Flooring and Pharr Fibers and Yarns from Pharr USA. This acquisition is Mannington’s first foray into the residential carpet business.
The Dalton, Ga.-based Shaw Industries, already the largest North American carpet tile manufacturer, announced that it has bought Scotland-based Sanquhar Tile Services (STS) to expand its presence in the growing carpet tile market in the United Kingdom.
Tarkett, a global leader in flooring and sports surface solutions, announced it has completed the acquisition of Lexmark Carpet Mills. The addition of Lexmark to the North America division enables Tarkett to establish a robust hospitality business that leverages both companies’ broad product portfolios, strategically positioning the company to better serve the complete needs of its hospitality customers.
Industry participants are investing in strategies such as alliances and partnerships for sustaining and strengthening their positions in the global market. The key industry players include IVC Group (Mohawk Industries), Mannington Mills, Inc., Shaw Floors, NOX Corporation, Milliken, Armstrong World Industries, Gerflor, and Tarkett.

Glucaric Acid Market Size Worth $1.30 Billion By 2025

The glucaric acid market is characterized by the presence of a large number of raw material suppliers. The market is highly dependent on the dynamics of its largest application area, the soap & detergent sector, and is expected to be driven by growing R&D of glucaric acid & its derivatives and its application as a substitute of phosphate in various applications. New techniques such as the catalytic process do not emit toxic gases such as NOx, due to which, the manufacturing of this product has received incentives and subsidies from governing bodies.

Due to growing concerns regarding the environment, phosphates have been banned in detergents in developed countries in North America and Europe, which is expected to provide an opportunity to the glucaric acid market to grow over the next eight years. Anti-corrosion is one of the important properties of glucaric acid. The construction industry utilized phosphate to address corrosion related problems. However, due to the subsequent ban, the ability of the chemical to substitute phosphate and other anti-corrosive chemicals in this application is expected to elevate its demand across all regions.

Glucaric acid is an ideal cleansing agent, and serves as a builder that captures calcium and magnesium found in hard water, thus preventing them from forming soap scum. Soap scum is a white or gray filmy layer that covers surfaces in bathtubs, showers and sinks, and if left too long to build up, can combine with mold or mildew, as well as other discolorations and odors. Various formulators have found usage of glucaric acid, in a number of areas such as household cleaning, concrete admixtures, and cooling tower treatment programs.

Calcium-D-glucarate is widely used in the food industry as it optimizes the level of minerals and vitamins in the body, safeguarding the vital functions of the liver and lungs. D-glucaric acid-1,4-lactone is a widely used derivative, which is expected to show rapid growth in coming years, as it finds application in cancer treatment. The Asia Pacific medical industry is expected to be a leading consumer of this product, led by the rapidly developing economies of India and China.

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Further key findings from the report suggest:

MIT chemical engineers, in December 2019, devised a way to control microbial metabolism, by inducing bacteria to switch between different metabolic pathways at different times, thus helping in the cells’ ability to produce the desired compounds while also maintaining their own growth. This process allowed the research team to boost microbial yields of two different products by 10 times.
Joker Brewing has come up with its own kombucha beer offering in Williamsburg, Virginia. The drinks will be available in a number of different flavors, with customers being able to buy them in bottles or on tap in restaurants. Hard kombucha has a high glucaric acid content, which helps in detoxification, while also keeping the liver healthy.
In June 2017, Rivertop Renewables announced that its sodium glucarate had achieved the European Chemical Agency’s (ECHA) REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) registration. The development allowed commercial deployment of sodium glucarate-derived products in various European markets.

Active Calcium Silicate Market Size Worth $203.0 Million By 2025

Active calcium silicate market is primarily driven by robust growth in the construction industry. The construction segment is one that has found rapid growth in the developing and underdeveloped economies, while also growing steadily in the developed ones. Construction spending in the United States crossed USD 1.29 trillion in 2018, while the global construction costs as a whole, are expected to rise on an average by 4.3% in coming years. The compound has a wide application scope owing to its dynamic nature, and it is extensively utilized in the manufacturing of acoustic tiles and wallboards to provide sound proofing and protect from fire.

Active calcium silicate is a poly-silicate compound that is produced by making use of various raw materials such as limestone, sodium silicate and hydrochloric acid. It is used in various application segments, on account of its desirable technical properties such as sound absorption and high-temperature resistance. It is widely available in the form of blocks, powder, and boards. Active calcium silicate is a safer alternative to asbestos in high temperature insulation applications. The key application segments include ceramics, fire protection, cement, paints & coatings, and insulation.

Construction Sector – A Major Customer

Increasing government spending on industrial, commercial, and residential construction development has positively impacted the global market growth of active calcium silicate. It is widely utilized in various application segments owing to its characteristics such as excellent adhesion, intumescence, and fire resistance. The construction industry needs to follow the regulatory standards that are implemented by regulatory bodies like OSHA and NIOSH, which ask for builders to implement additional security features in buildings.

Residential building fires are still a major cause of death in the United States. According to 2018 FEMA data, an estimated 379,600 residential fires took place in the country that year, which resulted in close to 2,800 deaths. Moreover, such incidences also cause great financial losses, and this figure stood at 8.19 billion in 2018. As such, fire protection becomes a major task on hand for the authorities, and the desirable properties of active calcium silicate in combating such hazards has provided impetus to the market.

Market Scenario

Insulation segment dominated the global active calcium silicate market owing to increasing demand from high-temperature applications such as glass, petrochemical, and steel. In addition, it is widely used in oil refinery, building walls, blast furnace, and electric arc furnace in boards and blocks form. Use of active calcium silicate is also important in the ceramics sector, which is growing at a rapid pace on account of the emergence of 3D printing technology, as well as its application in dental implants.

Europe dominated the global market in terms of volume and revenue in 2016 and is expected to continue its domination over the years ahead. Europe is followed by Asia Pacific, which is expected to witness robust growth in the coming years, especially in the construction sector, with economies such as India and China leading the way in regional infrastructural development. The demand for active calcium silicate from various application segments is propelled by a positive outlook from construction industry owing to its importance in acoustic insulation, and presence of regulatory standards imposed by various regulatory bodies.

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https://www.grandviewresearch.com/industry-analysis/active-calcium-silicate-market

Further key findings from the study suggest:

In January 2020, HIL Limited approved the sale of their calcium silicate insulation products division, with the brand ‘HYSIL’ to be transferred into the hands of Calderys India Refractories Limited. Calderys is a wholly-owned subsidiary of the France based multinational company Imerys S.A.
In November 2019, Johns Manville announced that it had signed an agreement that concerns the acquisition of ITW Insulation Systems, which is known for its premium, low-temperature polyisocyanurate foam insulations and metal jacketing solutions. The company has four manufacturing plants (2 each in U.S. and Canada). Through this acquisition, Johns Manville would be focusing on the cold and cryogenics market.
In September 2018, scientists at Rice University successfully developed micron-sized calcium silicate spheres which could possibly lead to stronger, greener concrete. This work built upon the previous project by the same team that developed self-healing materials with porous, microscopic calcium silicate spheres.

U.S. Energy Drinks Market Worth $26.93 Billion By 2025

U.S. Energy Drinks Market - Grand View Research

The U.S. energy drinks market size is expected to reach USD 26.93 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.2% during the forecast period. Growing consumer awareness regarding health benefits of natural and organic drinks has been driving the market. Energy beverage consumption has turned into a status symbol, especially for youth. Such consumer behavior type is expected to drive further the overall market demand. Consumption of alcohol mixed with these energy beverages is quite popular in urban areas.

Energy drinks have formed an integral part of social gatherings, parties, and celebrations. Substitute’s availability is anticipated to provide a significant threat to industry growth. Energy drinks face stiff competition from aerated beverages, malted health drinks, and packaged juice.

Taurine is another major component, which is essential for cardiovascular function and skeletal muscle development. Energy drinks manufacturers claim that these beverages reduce muscle fatigue, ease the mental process and protect heart health. However, a scientific consensus is yet to be achieved to support these statements. Increasing awareness of health consciousness is the key driver for the growth in energy drinks demand.

Recent trends show that most of the manufacturers create product awareness through attractive advertising. These manufacturers sponsor major sports events. Red Bull undertakes marketing campaigns in major football events and Formula 1 car racing. They have been targeting the youth through extreme sports event. Distinguished sports personalities are endorsed to promote the brand. This kind of push strategy for increasing the global demand is very popular in energy drink market.

The non-organic segment was the leading revenue contributor in 2016. Due to high initial market penetration and no specific focus on the target market, these products are projected to aid the market. At the same time, people lack awareness about the choice of products and these happen to be cheaper than their counterparts. However, there has been a trend of organic substances based products that have penetrated the market.

This trend has also penetrated the energy drinks market. Since people are realizing the importance of organic compounds in their consumption habits, this segment is expected to aid its growth in the U.S., eventually will increase the growth of organic energy drinks market exponentially over the forecast period. Increasing disposable income and changing lifestyle of young population are expected to trigger market growth of on-trade distribution channel over the forecast period.

Increasing demand for convenience beverage and changing lifestyle in the region like workaholic culture, rising sports activities and increasing income are attributed to the market growth. The growing urban class has been the most attracting factor for the market growth in the U.S. The rising popularity of sports in the country has a huge potential for promoting their brand and create a sense of recognition and loyalty among the customer.

The U.S. economy is undergoing a large-scale development. Due to this there is huge demand for these energies enhancing drinks since they improve the performance of the individuals and help them to deliver better results and impact positively to the growth of U.S. energy drinks market over the forecast period.

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Further key findings from the report suggest:

The non-organic segment is likely to reach USD 18.69 billion by 2025, at a CAGR of 7.0% from 2017 to 2025
In terms of revenue, the organic segment is expected to expand at a CAGR of 11.6% over the forecast period
In terms of revenue, the adult segment is poised to exhibit a CAGR of 7.7% over the forecast period
The on-trade distribution channel market is projected to exceed USD 18.5 billion by 2025
The off-trade & direct selling segment is estimated to register a CAGR of 6.4% over the forecast period
The industry is characterized by accreditation of the product, capacity expansion, capital expansion, and substantial investment decisions to improve market share. Some of the prominent companies are Red Bull GmbH, Monster Energy, and Rockstar.

Smokehouse Market Size Worth $157.2 Million By 2025

The global smokehouse market size is anticipated to reach USD 157.2 million by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth.

Key market participants have been focusing on innovation and new product development to manufacture environment-friendly components using latest technologies. Most manufactures have been focusing on electric grills to help reduce air pollution caused on account of burning charcoal and wood.

North America was the dominant region occupying over 35.0% of the revenue share in 2017. It is projected to account for a major share of the market over the forecast period on account of increasing popularity among young adults for cookouts.

Europe is expected to account for the second largest market share in 2017. In addition, the demand for portable products is expected to grow over the forecast period owing to increase in the number of family outings and picnics.

The smokehouse market is characterized by the presence of major companies as well as small- and medium-scale regional players. Some of the major players in the market engage in strategic developments to boost their sales and revenue by expanding their reach and providing customized services to customers.

Key players operating in the industry are The Weber-Stephen Products LLC, KitchenAid, Lynx Grills, and Viking Range Corporation among various others.

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https://www.grandviewresearch.com/industry-analysis/smokehouse-market

Further key findings from the report suggest:

Outdoor grills segment was valued at USD 76.3 million in 2017 and is expected to witness steady growth over the forecast period, on account of the rising trend toward cookouts and outdoor parties among the youth
Electric grill segment is expected to expand at a CAGR of 2.2% from 2018 to 2025. Electric grills are cheaper than gas grills, can be used in both indoor and outdoor spaces, and are easy to clean. In addition, since these grills just need to be plugged in to be used, there are not many restrictions and regulations governing their safe use
Europe was the second largest revenue generating region with USD 34.0 million in 2017 on account of technological advancements in manufacturing processes of the smokehouses coupled with the development and introduction of innovative products.
Some of the key strategies adopted by industry participants include mergers and acquisitions and integrations across the value chain to strengthen their product portfolios and global distribution network

Deep Fryer Market Size Worth $625.1 Million By 2025

The global deep fryer market size is expected to reach USD 625.1 million by 2025, expanding at a CAGR 2.8% over a forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to be driven by growing fast food industry and popularity of E-commerce retail. Moreover, high demand for the product from North America owing to rising preference for convenience food and on-the-go fast food is propelling the market.

Consumers supplement their regular meals with fried food products, such as fried chicken and French fires among various other products. Thus, changing consumer lifestyle, especially in terms of eating habits, and rising need for ready to eat food are expected to drive the demand in the region, which, in turn, is likely to boost global market over the forecast period. In addition, consumers are also becoming increasingly aware regarding health and wellness and, thus, are preferring food fried at home as opposed to fried food sold at fast food chains. This is expected to positively impact the demand for small deep fryers, such as the ones with a two-liter frying capacity, over the forecast period.

On the basis of product, commercial deep fryer held the largest market share in 2017. Changing dynamics of fast food market are expected to positively impact the demand for these products during the forecast period. Over the past few years, there has been a diversity in fast food restaurants. Players such as Wendy’s, Chick-fil-A, Burger King, Kentucky Fried Chicken (KFC), and McDonald’s among others are operating in the fast food market. These companies are continuously expanding their market reach and inaugurating new stores across the globe. Such fast food chains are the major consumers of deep fryers.

2 liter to 5 liter was the dominant segment on the basis of type of deep fryers. Growing fast food industry across the globe is projected to boost the demand over the forecast period. There are certain concerns among consumers regarding the ill-effects of fried food consumption. To mitigate such concerns, food chains market their products as safe and free from artificial colors. This trend is expected to influence customers to consume fried food, which is anticipated to bode well for the overall market growth.

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https://www.grandviewresearch.com/industry-analysis/deep-fryers-market

Further key findings from the report suggest:

North America dominated the global deep fryer market in 2017. However, Asia-Pacific is anticipated to witness the fastest CAGR of 3.5% during the forecast period from 2018 to 2025
China is the fastest growing country in the Asia Pacific market on account of growing popularity of ready to eat food, rising disposable income, and enhancing standard of living
E-commerce distribution channel segment is potentially fueling the market growth owing to the increasing number of internet users globally
Companies undertake various strategic initiatives to boost their market share. For instance, in January 2017, National Presto Industries, Inc. announced the sale of the assets of its absorbent product segment, Presto Absorbent Products, Inc. (PAPI), to Drylock Technologies, Ltd. a private Belgian company that manufactures and sells private adult incontinence, feminine hygiene, and label diaper products in Europe.

Shea Butter Market Size Worth $1.76 Billion By 2025

The global shea butter market size is expected to reach USD 1.76 billion by 2025 expanding at a CAGR of 6.6%. Increasing demand for coco butter alternative and growing consumption of chocolate and bakery products are expected to drive the market. In addition, widespread usage of shea butter as a substitute for edible vegetable oils and fat in various food applications is likely to spur the demand.

Bakery and confectionery manufacturers widely use it as an alternative for cocoa butter due to high prices of cocoa as a result of limited supply. The product also contains essential fatty acids, such as stearic and oleic acids, and unsaponifiables, such as sterols and phenols, which have moisturizing and conditioning properties. It has a better absorption rate than coco butter and is suitable for all skin types, which increase its demand in personal care & cosmetics industry as well.

In addition, extensive R&D by cosmetics manufacturers to introduce innovative and more effective shea butter-based products will drive the product demand in this sector. Thus, high product demand in personal care & cosmetics industry will also boost the market growth.

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https://www.grandviewresearch.com/industry-analysis/shea-butter-market

Further key findings from the study suggest:

The personal care & cosmetics application is expected to be the largest segment over the forecast period
However, food and beverage is projected to be the fastest-growing application segment at a CAGR of 6.5% from 2019 to 2025
Middle East and Africa is the largest regional market. On the other hand, Europe is estimated to register the fastest CAGR from 2019 to 2025
U.S., Germany, China, and South Africa are the major countries with lucrative markets for shea butter
Some of the key companies in the shea butter market are BASF SE; Olvea Group; Sophim S.A.; Cargill, Inc.; Suru Chemicals; Ghana Nuts Company Ltd.; Croda International Plc; Agrobotanicals, LLC; Clariant AG; and AAK AB

Carbon Capture & Storage Market To Exceed USD 8.75 Billion By 2025

Qatar, which is the world’s largest Liquefied Natural Gas exporter, has recently finished the process of commissioning the largest carbon dioxide (CO2) recovery and sequestration facility in Middle East and North Africa, with Ras Laffan, an industrial hub in Qatar, being chosen as the facility location. The planned CO2 capacity is 2.1 million tons per year. The nation plans to use CO2 for enhanced oil recovery (EOR). The nation has announced plans to raise its production capacity of LNG by 43% by 2024, taking it from 77 million tons per year to 110 million tons by that period. This project comes as Qatar faces strong competition from Australia, which according to the U.S. Energy Information Administration (EIA), will be outpacing Qatar in terms of LNG exports within next year.

The Concept

Carbon capture & storage (CCS), also known as ‘carbon capture and sequestration’ or ‘carbon control and sequestration’, is the method of capturing waste CO2 (carbon dioxide) from large point sources; for instance, fossil fuel plants. The captured carbon dioxide is then transferred to a storage space & usually deposited in an underground geological formation, from where it won’t enter the environment. This is a potential way of reducing the contribution of CO2 emissions to the process of global warming and ocean acidification through industries and heating. There is a possibility that the combination of CCS and Biomass to show net negative emissions.

A recent statement by the IEA and the UN Climate Panel summarized the high probability of climate change linked to CO2 emissions, with an added recommendation of reducing global CO2 emissions by 5 gigatons annually. Carbon capture & storage can be expected to contribute to the complete elimination of 14-17% of CO2 emissions. Currently, there are more than 40 large-scale facilities, with Chevron’s Gorgon plant one of the latest additions.

One of the more notable examples in the carbon capture & storage field is the Petra Nova, a joint venture between JX Nippon Oil & Gas Exploration Corp. and NRG Energy Inc., which developed a carbon-capture project at NRG’s W.A. Parish Generating Station. It is currently the world’s largest operating CCS system. The project is designed to capture approximately 90 % of the CO2; along with sulfur oxides, nitrogen oxides, and particulates from a 240 MW ‘flue-gas’ slipstream. This process requires about 1.6 million tons of greenhouse gas per annum. The system deploys an amine-based CO2 scrubber, designed by Mitsubishi Heavy Industries, to capture the gas in industrial applications.

‘Capturing’ attention across the globe

Carbon capture and storage is receiving a lot of support from industries as well as Governments across the world, with the common consensus being that carbon capture and storage goes a long way in delivering deep emissions reductions, particularly in industries such as cement, petrochemicals, fertilizer and steel, which make up for over 20% of the global emissions. The United Kingdom has begun a carbon capture project from the burning of wood. The project, known as Bio Energy with Carbon Capture and Storage (BECCS), is being carried out at the Drax Power Station in North Yorkshire, and is the first such project in Europe.

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https://www.grandviewresearch.com/industry-analysis/carbon-capture-storage-ccs-market

Further key findings from the study suggest:

The market is anticipated to be propelled by energy demand and ‘carbon dioxide’ reduction awareness.
Strict Government regulations with regards to greenhouse gas emissions is also expected to drive the industry forward. Since 1997, there has been a 20-time increase in the number of global laws regarding climate change, which include more than 1200 policies across 164 countries that are responsible for GHG emissions.
Wide adoption of gas injection for enhanced oil recovery (EOR) in various petroleum reserves worldwide is expected to drive industry demand in the near future.
Under the Paris agreement, Carbon capture & storage has been recognized as being critical in reaching global climate goals by major climate change bodies such as IPCC and IEA, a factor which would help in enhancing the market attractiveness.
With growth in the number of oil and gas industries, there is a high chance that the market will be populated further with competitive players.

Coal Bed Methane Market Worth $25.2 Billion By 2027

Coal Bed Methane is an unconventional form of natural gas which is found in coal seams or coal deposits. It is also known as coal seam gas, virgin coal seam methane, or ‘sweet gas’, owing to a lack of hydrogen sulfide. There are different methods of recovering CBM, making it a very stable source of energy. Drilling cost is the major contributor to the overall production cost. Electricity cost, machine maintenance cost and operational costs also contribute to the total cost of production. The leading application area is power generation.

Natural gas is one of the most rapidly growing forms of energy and has made its presence felt significantly in the global energy market. It has been rapidly catching up with crude oil as a fuel alternative because of its cleaner existence. Natural gas has been able to successfully penetrate the transportation and domestic application markets, thus helping it evolve as the primary global fuel. However, there has been an increased emphasis on the usage of unconventional natural gas sources such as shale gas, tight gas, methane hydrates and CBM owing to the depletion of conventional natural gas reserves.

However, the market is also not without its challenges. The dewatering of a CBM well consumes a lot of time, increasing the overall cost of its development which is a major challenge to this market. The Chinese market has not reached its full potential owing to myriad issues ranging from geological conditions, to conflicting mining rights, to insufficient subsidies and difficulties faced in attracting private capital. Also, doubts still persist regarding the quality, quantity and dispersal of the water from the coal seams.

The U.S. dominates global production, followed by Canada. The Asia Pacific region is expected to be one of the fastest growing markets in the near future owing to an increase in drilling activities, primarily in coal rich countries such as India, Australia, China and Indonesia. In Europe, the United Kingdom also has gathered pace in extraction activities of coal bed methane. Australia has been a major contributor to the market, with coal seam gas exploration a thriving activity, and the industry is aggressively expanding in the New South Wales (NSW) region. Bowen basin, Surat basin and Sydney basin are some of the well-known sites for coal seam gas exploration. India and China are especially showing good promise in terms of coal bed methane reserves and their exploration.

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https://www.grandviewresearch.com/industry-analysis/coal-bed-methane-industry

Further key findings from the report suggest:

Coal Bed Methane production is expected to be driven by increasing exploration and extraction on a global scale over the next few years.
Methane emissions that result from conventional fuel and coal mining are reduced in this case, thus driving the market.
Governments provide tax incentives to companies undertaking this operation, which again is a big driving factor. CBM is also priced lower than other unconventional natural gases, increasing its market attractiveness.
Growing demand for sustainable fuel in the country in order to reduce reliance on conventional sources of natural gas is expected to be the key driving force for the North American market.
Growing GDP in Asia-Pacific is responsible for the increasing energy demand in the region, with China, India and Indonesia being the prime contributors. Companies have been attracted to invest in this region due to the huge amount of unproven reserves of Coal Bed Methane in these countries.