Overview of the global capric acid market
Market research analysts at Technavio predict that the global capric acid market will grow steadily during the next four years and post a CAGR of almost 7% by 2021. This market research analysis identifies the growth of the food and beverage industry as one of the primary growth factors for this market. It has been observed that due to the increasing demand from the countries in APAC and Africa, food production has been growing at a significant rate around the globe. The beverage industry that includes bottled water, carbonated drinks, tea, coffee, and beer is also expected to post a significant growth during the next few years, which will be mainly driven by the demand for fruit and vegetable juices from the US and several countries in Europe. Since capric acid is widely used by various food items, breweries, wineries, and meat processing industries, this growth of the food and beverage industry across the globe will consequently drive market growth during the forecast period.
The growth in demand for capric acid from the pharmaceutical industry is one the major trends that will gain traction in this market in the coming years. Due to factors such as unhealthy eating habits and the increased occurrence of chronic diseases across the globe, the pharmaceutical industry is expected to post significant revenue in countries in the regions such as North America and Europe and the emerging countries such as Brazil, India, and China. The use of
Overview of the global precipitated silica market
The global precipitated silica market is anticipated to grow at a steady rate and will post a CAGR of more than 6% during the forecast period. The increasing demand for energy-efficient tires in the automotive industry will drive the growth prospects for the global precipitated silica market until the end of 2021. Also, the increasing focus on environmental and safety concerns has resulted in the growing preference for automobile models that includes fuel-efficient, lightweight, and low-emission vehicles. In addition, precipitated silica is an environment-friendly alternative to carbon black, which is a key driving factor for the precipitated silica market.
In terms of geography, APAC accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. The rising demand for precipitated silica can be attributed to the increasing demand for rubber products, automotive tires, pesticides, and personal products such as footwear, skincare, sun care, and toothpaste in the region. Also, easy availability of raw materials and low-cost labor is likely to drive the growth of the precipitated silica market in the region.
Competitive landscape and key vendors
The global precipitated silica market is highly diversified and competitive due to the presence of a large number of key global players along with regional and local players. It has been observed that major players in the market compete against each other based on the factors such as innovations, price, and quality of the product.
Key vendors in this market are -
- Evonik Industries
- J.M. Huber
- PPG Industries
- W.R. Grace
Other prominent vendors in the market include Anten Chemical, Cabot, Fuji Silysia Chemical, Gujarat Multi-
Overview of the global aroma chemicals market
Market research analysts at Technavio predict that the global aroma chemicals market will grow steadily during the next four years and post a CAGR of more than 5% by 2021. This market research analysis identifies the growth of the end-user industries as one of the primary growth factors for this market. Due to the improved economic conditions and factors such as the rising disposable incomes, growth in the preference for healthier lifestyles, and the use of natural products, the recent years have witnessed an exponential growth of the various markets such as personal care industry, perfume industry, food and beverages, and the household product industry. The increased awareness and interest of consumers towards personal hygiene and grooming will result in increased expenditure on personal grooming, in turn, driving the demand for custom fragrances. Moreover, the rise in population will also result in the increased demand for household products such as cleaning products, candles, and incense sticks, subsequently driving the growth of the aroma chemicals market in the coming years.
This market research and analysis estimates that in terms of geographical regions, APAC will be the major revenue contributor to the market throughout the next four years. The rapid increase in population, rapid urbanization, increasing investments, and the rise in demand for better lifestyles are few factors that will drive market growth in APAC. Additionally, the presence of some of the major manufacturers and aroma chemicals suppliers such as Japan, Singapore, and Hong Kong and the rising demand for aroma chemicals in countries such as Thailand, Indonesia, Taiwan, Malaysia, and Australia will also aid in the growth of the market in this region.
Competitive landscape and key
Overview of the global specialty gases market
Technavio’s market research analyst predicts that the global specialty gases market will grow at a CAGR of more than 6% between 2017 and 2021. Specialty gases have a wide spectrum of applications including air quality monitoring, breath alcohol testing, biological growth control, calorimetric testing, car exhaust testing, commercial diving, confined space monitoring, emission and natural gas trading, and explosimetry. One of the key growth factors for the specialty gases market is the constant increase in demand from the light-emitting diode (LED) sector. Several LED chip manufacturers rely profoundly on specialty gases because of their high purity, which makes them compatible with the performance and quality standards of LED. Moreover, several specialty inert gases are also used in various food and beverage applications for freezing, blanketing, and fumigation. These gases are used for cryogenic and efficient cooling of food products, inerting the storage and packaging atmosphere, and fumigating grains to avoid pilferage.
At present, manufacturers are coming up with several innovations in the storage design and packaging of specialty gases. They are replacing metal packaging by composite materials made of plastics. These cylinders provide various advantages in terms of energy savings as they are lightweight. Companies such as Luxfer Group and Time Technoplast have come up with several innovative gas packaging solutions, while gas vendors such as Linde Group have already adopted composite cylinders in their distribution channel. Technavio expects a rapid rise in innovations in cylinder
Overview of the global acrylic acid and its derivatives market
Technavio’s market research analyst predicts the global acrylic acid and its derivatives market to grow at a CAGR of more than 6% by 2020. Acrylic acid and its derivatives are used in a wide range of industries including surface coating, adhesive and sealant, textile, and plastic additive industries. Manufacturers in the market are coming up with various technologies and variants to broaden the scope of application. They are also concentrating on developing bio-based acrylic acid owing to health and environmental awareness. The latest development in this market is the use of acrylic coatings in industrial insulation applications. Fiberglass and polyurethane foam are conventionally used for insulation purposes. However, these materials are prone to damage and corrosion, and costs associated with the maintenance of these systems are relatively high. The acrylic surface coatings produced using waterborne acrylic technology have emerged as better alternatives in insulation applications as they offer a thin-film thermal insulation coating that requires low maintenance.
At present, the market is witnessing the growing preference for acrylic hybrid technologies, which are prepared by the reaction of an acrylic polymer with a large amount of compatible functional polymer through a series of chemical reactions or by physical blending. Such hybrid coatings enable manufacturers and consumers to overcome the shortcomings, specifically in applications related to industrial equipment and automobiles.
Competitive landscape and key vendors
The global acrylic acid and derivatives market is extremely fragmented with the presence of several vendors. The market is primarily led by international players, who have a vast geographic presence. However, many small vendors have regional dominance and sizable market share. Vendors in
Overview of the global flavors and fragrances market
Technavio’s market research analyst predicts the global flavors and fragrances market to grow at a CAGR of more than 4% during the forecast period. The global flavors and fragrances market predominantly comprises flavor blends, fragrance blends, essential oils, and aroma chemicals. The market is expected to observe healthy growth over the next four years owing to the constant demand from companies that manufacture food products and beverages, perfumes, cosmetics, toiletries, and household products. One of the main factors driving growth in the global flavors and fragrances market is the increasing investments by vendors to increase their production capabilities and expand their distribution networks to attract more consumers. The market players are also making investments to gain access to untapped markets, which offer them greater chances to grow. For instance, in 2016, Parag Milk Foods in India announced its plans to invest around USD1.5 billion in expanding its production capabilities and to extend its business operation to the north and north-east India. Also, with many vendors opting for mergers and acquisitions to increase their global presence, the flavors and fragrances market is likely to witness high growth in the coming years.
Geographically, the Americas accounted for the largest share of the market in 2015. Much of the market’s growth is driven by the increase in consumer awareness about the personal care products and rise in the consumption of convenience food. increasing demand for cosmeceuticals, anti-aging creams, and beauty products among the aging population has boosted the use of fragrances to keep off the intolerable
Specialty chemicals are chemical products that are manufactured based on specific demands from the industrial sector. These are also known as performance chemicals because of their diverse end-use applications and for enhancing performance properties of products. A specialty chemical can be a single-chemical product or combination of chemical products, which affects the processing of the end product. These chemicals are produced from basic chemicals and are sold on the basis of their functionalities. They are known as low-volume, high-value compounds. Additives, adhesives, construction chemicals, electronic chemicals, flavours, fragrances, lubricants, oilfield chemicals, and paints are some examples of specialty chemicals.