The specialty chemicals market is majorly driven by the evolution of Shale gas which opened new avenues for petrochemicals production. Apart from the production, it robust growth from construction industries in the U.S. and in Asia-Pacific so as to boost its demands in future.
The bulk chemicals and inorganics are primarily driven by high demand of 3D printing materials owing to exponential traction in 3D printing industry. Manufacturers are focusing on production of various goods including machine parts, equipment and even food products with the help of 3D printing.
Plastic processing machines especially extruders are paving their way to high market growth and helping the machine segment in mesmerizing growth. Apart from machines, equipment and tooling are also growing globally owing to high demand of pre-insulated pipes in direct heating and cooling applications. Also, industrial pipes and tubes are gaining traction due to growing oil & gas industry.
Coatings adhesives sealants and elastomers are extensively used in the applications of biotextile which includes medical garments, textile substrate for cell growth, textile implants, medical fabrics and many more.
Green cement is an eco-friendly product manufactured in a carbon-negative manufacturing process. These products are available in geopolymer cement, calcium sulfoaluminate cement, magnesium oxychloride cement, and sequestrated carbon cement. Green cement can reduce carbon emissions up to 80% and provide extended life expectancy compared to synthetically derived counterparts.
Intumescent coatings are considered protective solutions for providing the fire protection and corrosion inhibition of structures manufactured of alloy and steel. These products contain passive fire retardants capable of insulating the steel surfaces from the exposure of any external thermal action. Such protective coating solutions are preferred in applications including gaskets, fire-stopping, and retarding for offshore structures, aircraft, and ships.
Refractories improve the strength of the finished products used in the iron & steel, cement, and glass sectors. They are manufactured from various components, including alumina, fireclay, magnesite bricks, and silica bricks. The positive outlook towards the construction sector in emerging economies including China, India, and Bangladesh is expected to promote the improvement of iron & steel and cement industries and thus, in turn, will expand the demand for refractories. As a result, the industry participants have been expanding their business in the countries including China and India.
Abrasives are used for grinding, cutting, polishing, and drilling solid surfaces in automotive, aerospace, and oil & gas sectors. Automotive is one of the leading consumers of the abrasives industry, where the product finds application in grinding, oiling, polishing, and fitting for the production of four-wheelers or two-wheelers. The global growth in the automotive sector due to increased demand for passenger vehicles among the middle-income segment is projected to upscale the demand for abrasives. Furthermore, the surging demand for electric vehicles on a global level due to supportive policies in developed countries of North America and Europe regarding reducing the reliance on petro-based fuels is expected to expand the utility of abrasives.
The Outbreak of COVID-19 on a global level has forced the manufacturers of various industry segments to increase spending on the development of new products that benefit the buyers and limit the occurrence of viral and bacterial infections.
Flock adhesives are those binding materials used in different substrates, including rubber, plastic, and metals. These products find use majorly in the automotive, paper & packaging, and textile sectors. The shifting trend towards lightweight and low emission vehicles on a global level promoted the scope of flock adhesives as they can induce noise reduction and damping base separation. Furthermore, the growing acceptance of clothing as a style statement among millennials due to new product launches and extensive social campaigns on fashion style is expected to expand the demand for clothing. The rising demand for various types of garments is expected to promote the flock adhesives demand as an agent for improving the smoothness of the fabric.
