Tag: Additives

Isosorbide Market Size Worth $703.1 Million By 2025

The global isosorbide market size is expected to reach USD 703.1 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 8.5% during the forecast period. Rising health and environmental concerns regarding use of synthetic products, such as petroleum derived products, is estimated to fuel demand over the coming years.

Rising capacity of bio-based plastics in Asia Pacific, strong regulatory support for bio-based products, and stable demand from additives industry are the factors estimated to boost product demand in future. However, isosorbide made from starch is an eco-friendly option to synthetic polymers and this is a key trend estimated to continue influencing demand over the next few years.

Traditionally, Asia Pacific emerged as a dominant regional market owing to low raw material and labor cost. In addition, growing focus of the chemical industry on bio-based products is estimated to fuel market growth over the forecast period. Moreover, isosorbide has been identified as an emerging bio-based platform chemical by the U.S. Department of Energy.

Major chemical companies such as Mitsubishi Chemicals and SK Chemicals have been focusing on production of polymers based on isosorbide. Further, market players are concentrating on expansion of business across the globe to gain high market share in the global industry. Extensive R&D in the field and requirement to develop product differentiation leads to high levels of competition in the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/isosorbide-industry

Further key Findings from the Study Suggest:

  • The PEIT segment dominated overall market in 2018 and is estimated to expand at a CAGR of 9.7% in the projected period owing to enhanced heat resilience
  • Polyurethane and PIS are the fastest growing applications and are projected to exhibit a CAGR of 7.9% and 8.8% respectively owing to properties like low polydispersity, high thermal stability, and glass transition temperature
  • Resins and polymers remained the leading end-use industry owing to increasing interest of polymer industries in bio-based products and the presence of key manufacturers
  • Additives are estimated to expand at the fastest pace with a revenue-based CAGR of 9.2% over the forecast period owing to strict policy regarding toxic nature of BPA and rising concern regarding toxic impacts of synthetic chemicals along with commercialization of bio-based isosorbide
  • France-based Roquette has been investing heavily in developing and commercializing isosorbide on a large scale and also tied up with Mitsubishi Chemicals to manufacture polycarbonate using isosorbide.

Latin America Magnesium Nitrate Market Worth $113.5 Million By 2026

The Latin America magnesium nitrate market is projected to reach USD 113.5 million by 2026, according to a new report by Grand View Research, Inc. registering a 4.5% CAGR during the forecast period. Growing demand from fertilizers and explosives manufacturing industry is expected to drive market growth over the forecast period.

Magnesium nitrate is used as a catalyst for making explosives as it is a strong oxidizer and enhances the combustion of other substances that are utilized in the production of explosives. In the mining industry, explosives are used to extract the ore and discover ore-bodies. Latin America comprises of some of the largest and profitable mines, which is one of the prominent reasons for the robust growth of the mining industry. One of the largest mines of Latin America, Yonacoda gold mine, is situated in Peru and has been recognized as the second-largest open-pit gold mine in the world

Brazil is one of the fastest emerging economies in Latin America, with the chemical and agriculture sector as the backbone of a growing economy. The ability of magnesium nitrate to function as a stabilizer and preservative is likely to increase its utilization in the chemical industry. In addition, with a total arable land availability of 329 million hectares, the country designated 24.3% of the land to produce perennial crops and 52.1% for pastures.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/latin-america-magnesium-nitrate-market

Further key findings from the report suggest:

  • The additive segment accounted for the largest market share of 64.0 %, in terms of volume, in 2018 owing to the increase in consumption of fertilizers in agriculture sectors
  • Nitric acid application is expected to grow at a CAGR of 3.7% from 2019 to 2026 owing to rising demand in the production of explosives and fertilizers
  • Chile is the fastest growing country with a CAGR of 4.6%, in terms of volume, on account of increased mining activities in the region, particularly due to the government regulations encouraging controlled mining in order to boost economy
  • Mexico dominated the Latin America magnesium nitrate market with a volume share of 21.1% in 2018 due to growth in consumption of synthetic fertilizers and flourishing mining sector
  • Some of the key industry participants are Avantor Performance Materials, Haifa Mexico, Sigma Aldrich, American Elements, Van Iperen International, Yara International, Neochim PLC, AKO Kasei Co. Ltd., and Rongyu Chemical Co. Ltd.