Overview of the global bromine market
Technavio’s market research analyst predicts the global bromine market to grow steadily at a CAGR of around 6% by 2021. One of the primary drivers for this market is the rise in the demand for plastics. Flame retardant chemicals are added to plastics and polymers with the purpose of delaying combustion in case of fire. Plastics are widely used in packaging; construction; electrical and electronics items; automotive and many other industries. The most commonly used plastics include polyethylene (PP), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene and engineering plastics. PP and polyurethane (PUR) are the most widely used plastic materials. This increasing demand for plastics across regions in various end-user industries is driving the market for flame retardant chemicals which is, in turn, will propel the global bromine market during the forecast period.
One of the latest trends gaining traction in this market is the growing use of bromine and its derivatives as mercury reducing agents. Bromine derivatives are used in the reduction of mercury emissions from smokestacks of coal-fired power plants. During the combustion of coal, mercury gets released, which is a major concern for public health. This has compelled the governments to implement regulations for the reduction of mercury emission. This rising health concerns coupled with stringent government regulations will augment growth in the global bromine market in the coming years.
Competitive landscape and key vendors
Overview of the municipal water and wastewater treatment chemicals market in Europe
The market research analyst at Technavio predicts that the municipal water and wastewater treatment chemicals market in Europe to grow at a CAGR of nearly 5% until the end of 2021. One of the primary factors driving this market’s growth is the rising concerns for the environment. The mounting environmental concerns are due to the harmful greenhouse gas emissions and pollutions associated with the water and wastewater treatment chemicals, which has deteriorated the water quality significantly. Furthermore, the health problems and diseases caused by the release of the untreated water into the water reservoirs has a severe impact on all living organisms. It also makes the water unfit for drinking, household needs, and recreational purposes. This is expected to lead to the increasing adoption of municipal water and wastewater treatment chemicals for the implementation of professional water and wastewater treatment solutions during the predicted period.
One of the latest trends that will gain traction in the market is the increasing investments in aging water and wastewater treatment facilities. Europe houses one of the most advanced setups for the treatment of municipal water and wastewater, where a larger number of the population is connected to the public sewerage systems. Therefore, municipal water and wastewater treatment pipelines, plants, and equipment are aging rapidly. The increasing need to modernize the system drives the growth of the market. The corrosive nature of the compounds in the water and wastewater are severely damaging the equipment, along with the rise in population and urbanization have
Overview of the peracetic acid (PAA) market
According to the market research analysts at Technavio, the peracetic acid market will witness exponential growth and will post a CAGR of close to 8% during the forecast period. The extensive applications of peracetic acid (PAA) as disinfectants in the healthcare sector is one of the significant factors driving this market’s growth. PAA, along with hydrogen peroxide, is one of the most important constituents in the manufacture of peroxide-based disinfectants. Disinfectants are widely used in industries pertaining to food processing, cosmetics, paints, and adhesives to destroy microorganisms and improve the shelf life of the product. The recent outburst of diseases such as swine flu in Asia, chikungunya and dengue in India, Zika virus in Brazil, Ebola in West Africa, and enterovirus D68 and chikungunya in the US will also boost the adoption of disinfectants, which, in turn, will boost the growth of the PAA market until the end of 2021.
One of the recent trends gaining significant traction in the market is the increasing use of PPA in niche markets. The applications of PAA currently is not just limited for disinfection or oxidation purposes. It is being increasingly used in various other sectors such as medicines and fast-moving consumer goods (FMCG). Although PPA is conventionally used as a strong oxidizing agent or a disinfectant, new avenues are being explored for its application particularly in the fields of medicine, FMCG, and aerospace, for instance, PPA in the diluted form can be used in mouthwashes and toothpaste. The increasing use of PPA
Overview of the global cosmetic ingredients market
Technavio’s market research analyst predicts the global cosmetic ingredients market to grow steadily at a CAGR of above 4% by 2021. One of the primary drivers for this market is the recent rise in the interest in grooming products, particularly from the male consumer segment. The increasing emphasis on personal grooming by the male consumer segment is driving the cosmetic ingredients market globally. For instance, hair care products like hair serums are highly popular among male consumers. Also, the rising demand for anti-aging products such as anti-aging skin nourishers and anti-cellulites is expected to drive the growth of the new active ingredient chemical formulations. This increase in the demand for anti-aging and male grooming products will, in turn, contribute to the growth of the global cosmetic ingredients market in the next five years.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The market in this region is driven by the increasing consumer awareness of the availability and benefits of different personal care products. An increased emphasis on personal hygiene and the growing population base are also boosting the demand for cosmetics, which, in turn, fuels the demand for cosmetic ingredients across the region. Moreover, the growing importance placed by consumers on physical appearance and the increasing demand for cosmeceuticals will further aid in the growth of the market in this region.
Overview of the global thermoplastic elastomers (TPE) market
Market research analysts at Technavio predict that the global TPE market will grow steadily during the next four years and post a CAGR of almost 8% by 2021. This market research analysis identifies the increased demand from the construction industry in the emerging economies as one of the primary growth factors for this market. For instance, the increased focus of the government of China towards developing their rail and road infrastructure to sustain the fast-growing industrial sector will lead to a significant growth of the construction industry. This in turn, will fuel the growth of the TPE market since the construction sector is one of the major end-users for TPE products for paving and roofing applications. Moreover, technological advances that result in the increased construction of smart buildings and events such as the FIFA World Cup 2022 in Qatar and Dubai Expo 2020 that will increase the demand for hotels and transportation networks in the Middle East will also bolster the market’s growth prospects.
This market research and analysis estimates that in terms of geographical regions, APAC will be the major revenue contributor to the thermoplastic elastomer market throughout the predicted period. The growth of the automotive industry in the developing countries such as India, the emergence of China as one of the major manufacturing hubs, and the increased adoption of soft touch TPEs by the consumer electronics industry in countries such as Japan, Hong Kong, Malaysia
Overview of the global pharmaceutical excipients market
Technavio’s market research analyst predicts the global pharmaceutical excipients market to grow steadily at a CAGR of above 6% by 2021. One of the primary drivers for this market is the rising demand for functional excipients. The extensive use of advanced drug delivery is a key factor promoting the growth of functional excipients. Few companies, with the help of latest technologies, are focusing on innovations in these excipient categories. It has also been noted that several new compositions of ingredients in certain generic drugs are emerging in the market. The evolution of these drugs, specifically in the form of oral dispersible tablets will help in the growth of this market as they are easy to consume. Moreover, factors such as rapid advancements in nanotechnology and biotechnology are expected to propel the growth of functional excipients during the forecast period.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The US accounts for a major share in the region's pharmaceutical industry. The thriving pharmaceutical industry, the demand for excipients, especially for the production of tablets and capsules, are the key contributors to the dominance of this region in the pharmaceutical excipients market. The pharmaceutical industry in Brazil is also expected to show promising growth rate due to its increasing demand of pharmaceutical excipients. Furthermore, the expanding aging population base, growing healthcare expenditure, and high prevalence of diabetes and obesity will likely drive the pharmaceutical industry in the region during the next four
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.