Structural Foam Market Size Worth $42.2 Billion By 2025

The global structural foam market size is expected to reach USD 42.2 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 5.8%CAGR owing to Increasing infrastructure spending, particularly on residential & commercial buildings, has been a key factor driving the market growth. Moreover, the rising demand from material handling, automobile, and electrical & electronics, is also likely to contribute to the product demand over the forecast period.

Increasing construction spending, particularly in emerging markets of Brazil, China, India, Mexico, Russia, and South Africa is expected to drive injection molded structural foam demand in these regions. Besides, positive outlook of the global automotive and packaging industries coupled with versatile properties of structural foams including better heat and pressure resistance increases their application scope in various industries.

However, volatility in prices of essential raw materials along with the growing environmental issues concerning their disposal is anticipated to hamper the market growth during the forecast period. On account of these concerns, many of the industry participants are aiming to develop bio-based foams using the injection molding technique.

Key market players such as SABIC, One Plastic Group, and Covestro AG are among the companies involved in the production and distribution of the products and have established themselves as key market participants and have high integration throughout the value chain.

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Further key findings from the report suggest:

The global structural foam demand was 4,059.0 kilo tons in 2016 and is projected to grow at a CAGR of 5.3% from 2017 to 2025
Polyethylene foam segment was the largest product segment in 2016 and is expected to generate revenue over USD 15.62 billion by 2025
Global structural foam in automotive segment was valued at USD 6.81 billion in 2016 and is projected to witness a growth at a CAGR of 6.2% over the forecast period
The U.S. structural foam market in building & construction was 518.8 kilo tons in 2016 and is likely to reach an overall volume of 851.6 tons by 2025
The market in Asia Pacific is anticipated to witness considerable growth over the next few years owing to various advances across key regions, especially in the India and China. In terms of revenue, the regional market is likely to grow at a CAGR of 6.4% from 2017 to 2025
Key market participants include Armacell International S.A., BASF, Diab International AB, The Dow Chemical Company, SABIC, One Plastic Group, Covestro AG, Evonik Industries and others.

Waterborne Coatings Market Worth $82.9 Billion By 2025

The global waterborne coatings market is projected to reach USD 82.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at CAGR of 5.7% over the forecast period.

3d illustration. Blue paint splashing out of cans. Isolated white background

The prices of raw materials used in manufacturing waterborne coatings are expected to have a significant impact on the production cost of the final product. The demand for these raw materials from other application industries is expected to impact their availability for manufacturing waterborne coatings.

Increasing construction spending and requirement for improved infrastructure, particularly in Asia Pacific, is expected to drive waterborne coatings market over the forecast period. The share of construction spending is expected to shift from developed regions of North America and Europe to developing regions of Asia Pacific.

Increase in production capacities and launch of new automobile models is expected to remain a key driving factor for waterborne coatings market in automobile applications. Growing automotive industry in emerging markets of Asia Pacific, Central & South America, and the Middle East & Africa is expected to be another major factor driving waterborne coatings market.

Automotive OEM application segment is expected to grow at the highest rate over the forecast period. Increasing middle-class income level coupled with rising living standard in emerging economies of Asia Pacific and Central & South America is projected to fuel the automotive sales. Low-cost of production of waterborne coatings coupled with longer shelf life is expected to drive the demand for these coatings in this application segment.

Stringent government regulations to lower VOC content in paints & coatings is expected to drive the demand for waterborne coatings in the North American market. Countries in this region such as U.S., Canada and Mexico are witnessing an increase in government stimulus packages after the global economic recession that hit the region. Factors such as rising employment rates and improvement in consumer confidence are expected to drive North America waterborne coatings demand over the forecast period.

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Further key findings from the report suggest:

In terms of volume, the global revenue for architectural application is anticipated to reach USD 21.70 billion by 2025, growing at a CAGR of 4.4% from 2018 to 2025
Acrylic resin dominated the market in terms of revenue, with a market share of over 83.07% in 2017 and is expected to continue its dominance over the forecast period.
Some of the key companies present in the market include AkzoNobel N.V., BASF SE, Axalta Coating Systems LLC, Berger Paints India Ltd.; Kansai Paint Co., Ltd; Nippon Paint Holdings Company Ltd; and PPG Industries, Inc. among various others players.

Insulated Glass Adhesives & Sealants Market Worth $8.29 Billion By 2025

The global insulated glass adhesives & sealants market size is expected to reach USD 8.29 billion by 2025 expanding at a CAGR of 6.7%, according to a new report by Grand View Research, Inc. Rising demand for high-performance adhesives from automotive and construction sector is anticipated to drive the market growth. Insulated glass is extensively used in windows, doors, and windshield. Adhesives & sealants are used to fix insulated glass unit to an assembly. They help restrict the penetration of air, liquid, and solid particles and provide stability and strength to the unit. The high bonding speed, superior thermal stability, and extreme weather resistance offered by these adhesives are expected to augment their demand further.

Rising spending in the construction sector, especially in emerging economies of Asia Pacific and Middle East, owing to growing population and robust economic development is expected to positively impact the product penetration. The construction industry, especially in China and India, is estimated to grow at a significant rate owing to increasing demand for housing infrastructure. For instance, India has a requirement of investments worth USD 777.73 billion in infrastructure by 2022. This is expected to provide lucrative opportunities for the market. Polyurethane (PU) sealant acquired the highest market share in 2017 for bonding insulated glass. These high-grade solutions possess great impact and chemicals resistance. They are widely utilized across several industries, such as construction and automotive.

It requires a catalyst or an evaporation process with the help of air or heat, to complete the curing process. However, PU adhesives & sealants have some constraints like short shelf-life due to water absorption tendency and lengthy curing process. Silicone sealants segment is predicted to expand at the fastest CAGR during the estimate period on account of fast bonding speed and extreme weather resistance offered by these sealants. Silicone is considered as an ideal sealant for the colder temperature. Moreover, the longer lifespan as opposed to PU sealants is expected to drive the segment. Latin America is poised to witness significant growth in coming years. Booming automotive industry and increasing construction activities in the region are expected to drive the growth.

In addition, Latin American countries, such as Brazil, Mexico, and Argentina, are emerging as automobile manufacturing hubs owing to flexible regulations and availability of cheap labor. Major companies who have consolidated the market include Huntsman Corp., Henkel AG & Co. KGaA, Dow Corning, 3M Company, and Commerling. Acquisition and expansion are the key strategic initiatives undertaken by most of these companies to improve their market share and sustain competition. For instance, in January 2017, Momentive Performance Material acquired Sea Lion Technology, a U.S.-based chemical manufacturer. The deal comes as a part of business strategy to expand their silane manufacturing capacity.

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Further key findings from the study suggest:

Polyurethane led the insulated glass adhesives & sealants market in 2017 with a revenue share of 31.9% owing to low cost and strong adhesion properties
In terms of volume, silicones are likely to witness the fastest CAGR over the forecast period due to high thermal stability and quick bonding speed offered by them
In terms of revenue, automotive & transportation segment is estimated to register the fastest CAGR of 7.2% from 2018 to 2025
Asia Pacific acquired the highest volume share of the global market in 2017 owing to rapid industrialization and increased construction activities in the region
Acquisition is a key strategy undertaken by the manufacturers to expand their product portfolio and gain competitive advantage

Automotive Foam Market Worth $50.44 Billion By 2025

The global automotive foam market size is anticipated to reach USD 50.44 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 9.8% during the forecast period. Growing population, disposable income, and purchasing power parity in emerging economies of Asia Pacific are expected to propel demand for automobiles over the forecast period, thus impacting the market for automotive foam.

Transitioning lifestyles and wide availability of low-end sports models have positively impacted automotive demand from 2014 to 2017. Easy financing of automobiles owing to the EMI concept with attractive interest rates made it simpler and affordable for a medium income group consumers to purchase a vehicle of their choice. Easy availability of loans for vehicle purchase has also affected vehicle sales on similar lines. The aforementioned factors played an important role in propelling growth of the automotive industry both in developed as well as developing regions and the trend is likely to continue in the forthcoming years.

The market is expected to face instability in terms of raw material supply over the coming years owing to uncertain operation rates and plant closures by raw material manufacturers. However, relationships between manufacturers and suppliers are expected to get stronger, thus leading to stronger tie-ups at multiple distribution levels. This is expected to be a critical factor for companies to gain a competitive advantage over the forecast period.

Increasing demand for automotive foam particularly in the emerging economies of North America, Europe, Asia Pacific, and Central and South America, offers growth opportunities for the manufacturers of automotive foam and related raw materials to expand their product portfolios and market reach. The R&D initiatives undertaken by some companies to enhance their product specifications and market reach.

Substantial growth in automotive industry in Asia Pacific has fueled the demand in the automotive foam market in recent past. Significant presence of automotive and automotive foam manufacturers has played a key role in driving the product demand over the past few years and is expected to continue over the forecast period.

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Further key findings from the report suggest:

In terms of revenue, PU foam type is anticipated to reach USD 2.62 billion by 2025, growing at a CAGR of 7.9% from 2018 to 2025
Seating application segment held the largest market share of over 42.8% in terms revenue in 2017. These foams are corrosion resistant and can bear various types of severe conditions, which is anticipated to bode well for growth
The U.S. automotive foam market is anticipated to reach USD 8.37 billion by 2025 owing to the presence of various manufacturers and suppliers in the country
The market is competitive with the presence of a number of global, medium, and small scale companies catering to the global and local demand
Some of the key companies include Armacell International S.A., BASF SE, Rogers Corporation, Bridgestone Corporation, The Woodbridge Group, Recticel NV, Borealis AG and Saint-Gobain. The companies use strategy such as mergers and acquisitions and portfolio expansion to gain market share.

Anti-corrosion Coatings Market Size Worth $38.6 Billion By 2027

The global anti-corrosion coatings market size is anticipated to reach USD 38.6 billion by 2027, according to a new report by Grand View Research, Inc., growing at a CAGR of 4.6% over the forecast period. Rising demand for anti-corrosion coatings in industries, such as oil & gas, building & construction, and marine, is expected to drive the market over the forecast period. The primary purpose of the anti-corrosion coating is to protect the metal substrates from environmental exposures, such as humidity, moisture, and oxidation.

These coatings act as a barrier to prevent the interaction between the corrosive materials, compounds, chemicals from the metal surfaces. In addition, these coatings enhance the surface finish of the metallic components. The rising demand for sustainable and durable metallic products, especially in the oil & gas and building & construction industries, is expected to drive the product demand over the forecast period. The Asia Pacific is anticipated to be the largest regional market over the forecast period.

This is owing to various factors, such as government initiatives like Make in India, construction of a silk route project connecting Xian, China to Trieste, Italy through both road and marine transportation. In addition, various companies in clean energy production and aerospace are planning to establish manufacturing facilities in India post COVID-19 pandemic, which will support market growth. With the rising number of building & construction projects in North America, particularly in the U.S., demand for electric automotive, and R&D investments for developing advanced, environmentally-friendly anti-corrosion coatings will boost the market growth in North America.

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Further key findings from the report suggest:

The global market was valued at USD 27.2 million in 2019 and is estimated to register a CAGR of 4.6% from 2020 to 2027
The marine application segment is expected to witness the fastest CAGR of 5.3% over the forecast period in terms of revenue
The high CAGR is attributed to the rising spending on navy defense infrastructure across developed and developing countries and rising cross border trade through marine transportation
The oil & gas application segment accounted for the largest share of over 36% in 2019 and will retain the dominant position throughout the forecast years
This is credited to rising product demand in the oil & gas sector due to the presence of Sulphur in the crude oil, which causes corrosion in pipelines, vessels, and containers
The Asia Pacific accounted for the maximum market share of over 36% in 2019. India, in particular, is estimated to witness the fastest CAGR 5.8% from 2020 to 2027

Aerospace Foam Market Size Worth $8.66 Billion By 2025

The global aerospace foam market size is expected to reach USD 8.66 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at CAGR of 6.1% over the forecast period. Aerospace is one of the most attractive destinations for polymer foam manufacturers. Strong demand for next-generation commercial aircraft owing to the growing passenger traffic, especially in Asia Pacific and Middle East and Africa, is expected to drive the demand for polymer foam.

According to the International Air Transport Association (IATA), the global passenger traffic is likely to grow at an annual compounded rate of 3.6% from 2016 to 2036 and reach 7.8 billion passengers by 2036. This is expected to result in higher production of commercial aircraft to meet the rise in passenger traffic.

Stringent regulations imposed by various government bodies to reduce CO2 emissions are driving growth of lightweight materials in aerospace applications. These regulations are forcing Original Equipment Manufacturers (OEMs) to seek alternatives to heavy metals to reduce the emissions and to increase fuel efficiency. This factor is anticipated to drive the demand for foam over the forecast period.

The aerospace and defense industry is increasingly making use of lightweight materials in an attempt to improve cost-efficiency and environmental performance of aircraft. Light-weight materials used in aircraft interiors, where fires are most likely to happen, must adhere to strict fire safety requirements certified for commercial airline structures.

For instance, the Federal Aviation Administration (FAA) has outlined safety requirements guidelines for flammability under FAR 25.856. Likewise, several aviation-based international governing authorities, such as the National Qualifications Authority (NQA), International Traffic in Arms Regulations (ITAR), and Aircraft Information Management Systems (AIMS) have framed safety requirements for airlines and aircraft structures.

Specialty high-performance materials are required to be used in the aerospace industry, where high strength and resistance is desirable. Polymethacrylimide foam, specialty high-performance material, is preferred in aviation applications on account of its rigidity, high compressive strength, and suitability to standard pre-preg production cycles.

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https://www.grandviewresearch.com/industry-analysis/aerospace-foam-market

Further key findings from the report suggest:

Polyetherimide foam is estimated to be one of the fastest growing types of aerospace foam over the forecast period
Commercial aviation was the largest application segment in 2017 and accounted for over 46% of global market share in terms of revenue
Polyurethane foam is the largest polymer type segment which is forecasted to attain a market share of over 38% by 2025
Some of the key players operating in the aerospace foam market are Evonik Industries AG; BASF SE; SABIC; and DowDuPont Inc.

Exterior Architectural Coating Market Worth $39.04 Billion By 2024

The global exterior architectural coating market is expected to reach USD 39.04 billion by 2024, according to a new report by Grand View Research, Inc. Functional superiorities including weather and moisture resistance, better aesthetics and long lasting adhesion is expected to fuel market growth over the next eight years. Furthermore, rising government spending in Asian countries on infrastructure development will augment industry expansion.

Growing demand for waterborne technology over traditional coatings, as it is cheaper and eco-friendly, will drive market growth. The introduction of green coatings coupled with the increasing usage of nanocoatings will create immense opportunities for growth over the next eight years.

Primer is expected to witness high revenue gains at a CAGR of 6.4% from 2016 to 2024 as it acts as a protector and leveler for other products including enamel and emulsions. The revenue generated by the use of exterior architectural coatings in the non-residential sector was valued at USD 8.20 billion in 2015 and is expected to witness rise on account of growing FMCG, IT, telecom and retail sector in MEA and Asia Pacific. Moreover, rapid industrialization, increasing FDI and government infrastructure spending will promote market growth.

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Further key findings from the report suggest:

The global demand for exterior architectural coatings was 7.12 million tons in 2015 and is expected to show high gains in light of rapid infrastructural development in India, Saudi Arabia, Thailand, Indonesia and the U.S.
Alkyd resin will witness high volume growth at a CAGR of 5.3% from 2016 to 2024. Growing usage of alkyd resins in light of their high durability and superior gloss is expected to stimulate industry growth. Furthermore, rising consumption in outdoor applications owing to its low cost along with high-temperature resistance will fuel its demand over the forecast period.
North America accounted for 22.6% of the global volume share in 2015 and is expected to witness significant gains in light of rising reconstruction activities in the U.S. coupled with infrastructure development in Canada and Mexico. Furthermore, the implementation of the National Infrastructure Program 2014 – 2018 (NIP) in Mexico is expected to promote the product growth over the forecast period.
Latin America is projected to witness substantial revenue growth at a CAGR of 6.4% from 2016 to 2024 owing to the presence of various participants including BASF, Sherwin-Williams, and AkzoNobel. Increasing government efforts to offset Brazil’s housing deficit, and provide low-interest rates for housing will stimulate product demand over the forecast period.
Exterior architectural coatings industry is dominated by major participants including PPG Industries, Nippon Paint, BASF, AkzoNobel, and Sherwin-Williams. Ongoing product innovation to produce high-performance and cost-efficient waterborne coatings is expected to industry expansion over the next eight years. For instance, in March 2015, BASF expanded their color range and production capacity for Paliocrom products to cater to the increasing demand for high-end effect pigments in coatings. BASF is expected to widen the capacity by more than 20% by 2017 for Paliocrom effect pigments.

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.

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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.

Powder Coatings Market Size Worth $19.9 Billion By 2027

The global powder coatings market size is expected to reach USD 19.9 billion by 2027, at a revenue-based CAGR of 7.0% from 2020 to 2027, according to a report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period primarily owing to superior properties of powder coatings over conventional paints including high resistance to corrosion, chipping, and abrasion, durability, cost-effectiveness, excellent finishing, and reduced processing time.

Growing purchasing power, high living standard, and rapid urbanization is expected to drive the consumer goods sector, thereby driving product demand over the forecast period. Powder coatings are used in consumer goods such as refrigerators, washer tops and lids, air-conditioner cabinets, water heaters, range housings, dishwashers, microwave oven cavities, and freezer cabinets.

Asia Pacific emerged as the fastest-growing region and is expected to witness a CAGR of 7.8%, in terms of revenue, over the forecast period. Increasing demand for consumer goods such as washing machines and refrigerators in countries such as India, China, Vietnam, Philippines, and Thailand are expected to boost demand for powder coating in these applications. Growing demand for automobiles in emerging markets such as China and India coupled with favorable FDI norms by governments is expected to facilitate investment in the region.

North America was the third-largest market and held a market share of 21.9%, in terms of revenue, in 2019. Expanding automotive industry in U.S. and rising concerns regarding VOC emissions released from the coatings used in automobile production are expected to boost the demand for powder coatings in the region.

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https://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis

Further key findings from the report suggest:

Epoxy-Polyester (Hybrid) is expected to be the fastest growing resin type during the forecast period from 2020 to 2027
Consumer goods application occupied the largest revenue share on account of rising demand for domestic appliances in emerging countries such as India, China, Vietnam, Philippines, and Thailand. This, in turn, is expected to boost the demand for powder coatings in the coming years
Major key players in powder coatings market includes Akzo Nobel N.V; The Sherwin-Williams Company; PPG Industries, Inc.; BASF SE; DSM; Valspar; Axalta Coating Systems; Arkema S.A.; and Bayer AG.