HR Advisory Services Market Definition

The HR advisory market consists of the sales of HR advisory services by entities (organizations, sole traders and partnerships) that provide advice on human capital matters and/or offerings revolving around the HR function. HR advisory services are generally used by two types of clients – those aiming to improve their HR function by redesigning HR processes and those undergoing transformations such as mergers and acquisitions to ensure the new human capital is trained. Only goods and services traded between entities or sold to end consumers are included.

Sustainable Plastic Packaging Market Definition

The sustainable plastic packaging is used to package different kinds of items such as food and beverage, healthcare and others. Sustainable plastic packaging is generally recyclable, reusable, or biodegradable depending on the chemicals used during the manufacturing process making it a preferred choice for organizations due to its lightweight and low cost. It minimizes dependency on fossil fuels, reduces the consumption of natural resources, promotes energy-efficient manufacturing, reduces landfills, and improves ocean cleanliness. The main types of sustainable plastic packaging are rigid, flexible and industrial. Rigid packaging refers to unable to bend or be twisted out of shape. The packaging formats of sustainable plastic packaging are primary packaging, secondary packaging and tertiary packaging that can process recyclable, reusable and biodegradable and is used by food and beverage, personal care, healthcare and other end-use sectors.

Sustainable Plastic Packaging Market Segmentation

The sustainable plastic packaging market covered in this report is segmented – 1) By Packaging Type: Rigid, Flexible, Industrial 2) By Packaging Format: Primary Packaging, Secondary Packaging, Tertiary Packaging 3) By Process: Recyclable, Reusable, Biodegradable 4) By End-Use Sector: Food And Beverage, Personal Care, Healthcare, Other End-Use Sectors

Automotive Plastics Market Definition And Segments

Automotive plastics refers to a polymer used in automotive vehicles to design and produce parts that provide mechanical strength, withstand shear stress, wear metal stress, offer aesthetic appearance, and are utilized in making the automotive body. These plastic components mainly replace the various metal parts in automobiles as they provide similar properties such as stiffness, flame retardancy, and others. The main types of automotive plastics are polypropylene (pp), polyurethane (PU), polyvinylchloride (PVC), polyamide (PA), acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polycarbonate (PC), polybutylene terephthalate (PBT), and others. Polypropylene (PP) automotive plastics refer to a thermoplastic polymer that is tough, rigid, and crystalline. The various applications of automotive plastics are interior, exterior, under the bonnet, and electrical components, power train, and chassis which are used in conventional vehicles, electric vehicles, and hybrid vehicles. The automotive plastics market covered in this report is segmented – 1) By Product Type: Polypropylene (PP), Polyurethane (PU), Polyvinylchloride (PVC), Polyamide (PA), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polycarbonate (PC), Polybutylene Terephthalate (PBT), Other Product Types 2) By Application: Interior, Exterior, Under Bonnet, Electrical Components, Power Train, Chassis 3) By Vehicle Type: Conventional/Traditional Vehicles, Electric Vehicles, Hybrid Vehicles The automotive plastics market size has grown strongly in recent years. It will grow from $39.69 billion in 2023 to $43.56 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased automobile production, increased demand for commercial vehicles, surge in passenger vehicles, increased demand for sustainable plastics, and strong economic growth in emerging markets. The automotive plastics market size is expected to see strong growth in the next few years. It will grow to $62.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, supportive government initiatives, and the growing automotive industry. Major trends in the forecast period include a focus on the launch of new production lines, recovering used plastics from the production of automotive parts, partnerships and collaborations, and a focus on lightweight products.

Demand For Lightweight And Electric Vehicles Boosts Automotive Plastics Market

The increase in demand for lightweight and electric vehicles is significantly contributing to the growth of the automotive plastics market. The increase in the use of plastic components in the automotive industry has boosted the advancements in the design of automobiles. It also reduces the consumption of fuel in vehicles, as less weight requires less energy when the vehicle is accelerated. For instance, in April 2022, according to the European Automobile Manufacturers' Association, a Belgium-based automotive industry standards group, 79.1 million automobiles were produced in 2021, a 1.3% rise from 2020 across the globe. Therefore, the increasing demand for lightweight and electric vehicles is driving the growth of the automotive plastics market.

Government Initiatives Propel Automotive Plastics Market Expansion

Supportive government initiatives are driving the growth of the automotive plastics market during the forecast period. Government regulations are influencing the growth of the automotive plastics market across the world, by mandating the installation of several components in vehicles. For example, the Government of Japan (GOJ) has set a target that by 2035, all new cars sold will be environmentally friendly. In addition, according to Business Korea, a Korean business magazine, the South Korean government plans to lower the cost of electric vehicles for its consumers by nearly 10 million won ($9,000) in the next four years. The government also plans to increase the number of electric vehicles on the road to 2.83 million by 2025. Therefore, government regulations are expected to contribute to the growth of the automotive plastics market during the forecast period. Major companies operating in the automotive plastics market report are Lyondellbasell Industries Holdings B.V., BASF SE, Covestro AG, Saudi Basic Industries Corporation (SABIC), Borealis AG, DSM, Evonik Industries AG, Exxon Mobil Corporation, Arkema Group, LG Chem, Lumax Auto Technologies, Tractors and Farm Equipment Limited, Nextage Co. Ltd., Bigmotor Co. Ltd., Evergreen Motors, Kothari Auto Link Private Limited, Modi Motors Agencies Private Limited, CarZ, China Grand Automobile Service Co. Ltd., Xianglong Borui Auto Services (Group) Co. Ltd., Sanhe Group, Changzhou Tourism Automobile Group Co. Ltd., Nanchong Kunhe Automobile Trading Co. Ltd., Ningbo Sailing Falaixin New Material Co. Ltd., Suzhou Xinyite Plastic Technology Co. Ltd., ShanDong DongChen New Technology Co. Ltd., Amazing Plastics Limited, Rapid Direct, Adreco Plastics, Omega Plastics Group, Rochling Industrial UK Ltd., Rutland Plastics, Nifco UK Limited, SKS Metaplast, Tenn-Tex Plastics, Zavod Signal, Ideal-Plast LLC, LitPromGarant -NN LLC, Coba Automotive Rus LLC, Atek Ltd., Aectra Plastics, Chevron Phillips Chemical, Americas Styrenics LLC, Johnson Controls, Lear Corporation, Celanese Corporation, Magna International Inc., Thogus Products, Zwick Roell Group, Belenus of Brazil S / A, METALAC, H.B. Fuller, Rimco Nigeria Limited, DVC Plastics Limited, COBA Plastics Moulding, Ampa Plastics Group (Pty) Ltd., Finke Plastics.

Technological Advancements Reshape The Automotive Plastics Market

Technological advancements are a key trend gaining popularity in the automotive plastics market. Technological advancement is the discovery of knowledge that advances the understanding of technology. For instance, in 2021, Covestro AG launched a new 3D printing material, recycled Polyethylene Terephthalate (rPET), which is used for 3D pellet printing using technology known as fused granulate fabrication (FGF), which helps in the manufacturing of large-sized parts. This technology has applications in the automotive industry for the manufacturing of interior parts.

Strategic Partnerships Drive Advancements In The Automotive Plastics Market

Companies in the automotive plastics market are increasingly focusing on partnerships and collaborations to improve their product portfolio and geographical presence. For example, in June 2022, Sumitomo Chemical, a Japanese chemical company, partnered with Newlight Technologies, a US-based biotechnology company producing advanced sustainable materials, to jointly develop polypropylene (PP) compounds for use in automobiles and textile applications using a carbon-negative biomaterial produced by microorganisms from methane, called AirCarbon, which is based on polyhydroxybutyrate (PHB). Further, in March 2022, BASF, a German chemical company, signed a strategic cooperation agreement with Zhejiang REEF Technology, a Chinese company involved in the research and development and production of high-end engineering plastic-modified materials, to develop state-of-the-art recyclate formulations for applications in the automotive, packaging and consumer industries.

Lear Corp. Enhances Capabilities With Acquisition Of M&N Plastics

In March 2021, Lear Corp., an automotive technology company, acquired M&N Plastics for an undisclosed amount. This acquisition helps Lear Corp. increase its capabilities to design and produce complex electrical components in various automobiles. M&N Plastics is a specialist manufacturer of various engineered plastic components for the automotive industry. Asia-Pacific was the largest region in the automotive plastics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The automotive plastics market consists of sales of diesel vehicles, polymethyl methacrylate, nylon, Styrofoam, injection molding, and blow molding. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The automotive plastics market research report is one of a series of new reports from The Business Research Company that provides automotive plastics market statistics, including automotive plastics industry global market size, regional shares, competitors with an automotive plastics market share, detailed automotive plastics market segments, market trends and opportunities, and any further data you may need to thrive in the automotive plastics industry. This automotive plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Magnetic Beads Market Definition And Segments

Magnetic beads refer to a type of device made up of superparamagnetic iron oxide particles as small as 20 to 30 manometers in size in which a functional carboxylic group covers an iron-oxide core, which then binds to nucleic acid and is used for separating biomolecules such as DNA and RNA quickly and effectively. The main types of magnetic beads are cells, nucleic acids, peptides, proteins, and others. Protein magnetic beads are used in the purification of epitope-tagged proteins. Protein purification directly from cell lysates is possible with the magnetic protein purification method, which eliminates the need for centrifugation and simplifies protein purification. The various magnetic cores are superparamagnetic and ferrimagnetic. Magnetic beads have applications in cell separation and expansion, IVD assay development, nucleic acid isolation, immunoprecipitation, antibody purification, protein sample preparation and protein purification, and others. Major end-users of magnetic beads include healthcare facilities, individual pathology labs, research labs, and others. The magnetic beads market covered in this report is segmented – 1) By Type: Cells Microbes, Nucleic Acids, Proteins, Other Types 2) By End User: Healthcare Facilities, Individual Pathology Labs, Research Labs, Other End Users 3) By Magnetic Core: Superparamagnetic, Ferrimagnetic 4) By Application: Cell Separation And Expansion, Protein Sample Preparation And Protein Purification, IVD Assay Development, Nucleic Acid Isolation, Immunoprecipitation, Antibody Purification, Other Applications The magnetic beads market size has grown rapidly in recent years. It will grow from $2.18 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to the COVID-19 pandemic, increased healthcare expenditure, and rapid growth in the elderly population. The magnetic beads market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to government initiatives for genetic and microbiological research, growth in the medical technology sector, and the increasing prevalence of chronic diseases. Major trends in the forecast period include developing new technological solutions, focusing on the launch of magnetic bead modification services to enhance cell isolation, RNA or DNA extraction, and protein purification, and introducing magnetic bead separation plates for cost-efficient nucleic acid testing.

Government Initiatives Fuel Growth In The Magnetic Beads Market For Genetic And Microbiological Research

Government initiatives for genetic and microbiological research are expected to promote the growth of the magnetic beads market in the forecast period. Governments across various countries are implementing national plans for integrating advanced microbial genomics research which are expected to increase the demand for magnetics beads used in various genetics and microbiological research. For instance, in February 2021, the Australian Government Department of Health published a national plan for the integration of microbial genomics into the Australian public health system to improve national surveillance and response to communicable diseases, antimicrobial resistance, and biothreat agents of clinical and public health importance. Therefore, supportive government initiatives for genetic and microbiological research are expected to promote the growth of the magnetic beads market.

Magnetic Beads Market Thrives On The Surge In Chronic Disease Prevalence

The rising prevalence of chronic diseases is expected to be a driver of the magnetic beads market. Chronic diseases, such as cancer, diabetes, heart diseases, and others are defined broadly as conditions that last one year or more and require ongoing medical attention or limit activities of daily living or both. Due to the increasing prevalence of chronic diseases, there is a growing need for the adoption of advanced diagnostic technologies using magnetic beads for cost-effective diagnosis. The use of magnetic beads eliminates the need for vacuum or centrifugation, thereby reducing stress on the target molecules. This method also requires a fewer number of steps and reagents. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Thus, the rising prevalence of chronic diseases will be a driver of the magnetic beads market in the forecast period. Major companies operating in the magnetic beads market report are Thermo Fisher Scientific Inc., Merck KGaA, Bio-Rad Laboratories, Inc., Qiagen, Danaher Corporation, Miltenyi Biotec, Promega Corporation, Takara Bio Inc., Genscript Biotech Corporation, Bangs Laboratories Inc., Sinovac Biotech, Genor BioPharma, Shenzen Zhenhua Fu Electronics, Zhejiang Orient Gene Biotech Co. Ltd., Microgate, SunLord Electronics, Max Echo, Eurofins Abraxis, YAGEO Group, TAIYO YUDEN Co. Ltd., Alcon Scientific Industries, Teja Scientific Glass Works, Zeesan Biotech, Hemotune AG, NanoSyrinx, Pulmobiotics S. L, EnginZyme, Chain Biotech, Nuclera Nucleics, Phytoform Labs, Entelechon GmbH, Sloning BioTechnology GmbH, Siemens Healthineers Ukraine, TestLine Clinical Diagnostics s.r.o, Roche, Spherotech, CardioGenics, NEB, Rockland Immunochemicals

Magnetic Beads Market Flourishes With Technological Advancements And Cutting-Edge Solutions

Technological advancement is a key trend gaining popularity in the magnetic beads market. The key players in the magnetic beads market are focusing on innovation and expanding their scope of application to gain market share. For instance, in October 2022, Thermo Fisher Scientific Inc., a US-based healthcare company specializing in the development and manufacturing of reagents, kits, consumables, and testing kits, will introduce Dynabeads Technology. Dynabeads technology, consisting of paramagnetic spherical polymer particles, is primarily used in messenger RNA (mRNA) for the synthesis and purification of mRNA for manufacturing and vaccine development, or carboxylic acid for RNA purification solutions.

Magnetic Beads Market Adopts Microplate Innovations For Cost-Efficient Nucleic Acid Testing

Players in the magnetic beads market are introducing microplates (magnetic bead separation plates) for cost-efficient nucleic acid testing. Magnetic beads are essential components for nucleic acid extraction. In comparison to column extraction, magnetic bead-based nucleic acid extraction reagent is more compatible with automation systems, allowing it to satisfy the demands for high efficiency and reliability in large-scale nucleic acid testing. For instance, in July 2022, Porvair Sciences, a UK-based manufacturer of consumables, porous plastics (Vyon), and instruments for life science and analytical laboratories, introduced a 96-well deep well microplate designed for labs using magnetic beads for nucleic acid purification, clean-up, and protein purifications. The 96-well magnetic bead separation plate has a reinforced base that can be routinely centrifuged at up to 6,000 x g, enabling faster magnetic bead separation protocols and improved sample quality.

BIC Expands R&D Capabilities With Acquisition Of Advanced Magnetic Interaction

In August 2022, BIC, a France-based world leader in stationery, lighters, and shavers, acquired Advanced Magnetic Interaction for an undisclosed amount This acquisition strengthens BIC's R&D capabilities in Digital Expression, one of the pillars of BIC's Horizon strategic plan, and will accelerate the deployment of AMI's patented technology, notably through B2B activity in Digital Creative and Consumer Electronics applications. North America was the largest region in the magnetic beads market in 2023. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic beads market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the magnetic beads market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The magnetic beads market consists of sales of Carboxylate-modified magnetic beads, amine-blocked beads, oligo(dT)-coated magnetic beads, and streptavidin-coated magnetic beads. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The magnetic beads market research report is one of a series of new reports from The Business Research Company that provides magnetic beads market statistics, including magnetic beads industry global market size, regional shares, competitors with a magnetic beads market share, detailed magnetic beads market segments, market trends and opportunities, and any further data you may need to thrive in the magnetic beads industry. This magnetic beads market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Plasticizers Market Definition And Segments

Plasticizers are chemical additives used to increase the plasticity or fluidity of a material. Plasticizers have dominant uses in rubber, resins, and plastics, especially polyvinyl chloride (PVC). The product types of plasticizers are phthalate plasticizers, dop, dinp/didp/dphp, other non-phthalate plasticizers, dotp, adipates, trimellitates, epoxies, and benzoates. Phthalates are a group of chemicals that are used to make plastics more durable. A few of the phthalates are used to help dissolve other materials. Phthalates are in hundreds of products, like vinyl flooring, lubricating oils, and personal-care products like soaps, shampoos, and hair sprays. The distribution channels are online and offline. The various applications involved are flooring & walls, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and other applications. The plasticizers market covered in this report is segmented – 1) By Product Type: Phthalates Plasticizers, Non-Phthalates Plasticizers 2) By Distribution Channel: Online, Offline 3) By Application: Flooring & Wall, Film & Sheet Coverings, Wires & Cables, Coated Fabrics, Consumer Goods, Other Applications Sub segments: DOP, DINP/DIDP/DPHP, Others, DOTP, Adipates, Trimellitates, Epoxies, Benzoates The plasticizers market size has grown strongly in recent years. It will grow from $100.57 billion in 2023 to $108.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased demand for polyvinyl chloride (PVC), increased demand for industrial packaging products, increase in global chemicals mergers and acquisitions (M&A). The plasticizers market size is expected to see strong growth in the next few years. It will grow to $145.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing demand for plastic or pvc increasing demand for plasticizers from the healthcare sector. Major trends in the forecast period include eco-friendly plasticizers, increasing use of recycled raw materials in plasticizers, rising in mergers and acquisitions, automation through robotics in factories, phthalate substitutes.

Growing Demand For Flexible Pvc Boosts The Plasticizer Market

Rising demand for flexible polyvinyl chloride (PVC) contributes to the growth of the plasticizer market. Flexible PVC is softer than unplasticized polyvinyl chloride (uPVC) due to the addition of plasticizers. The increasing demand for flexible PVC material in various end-use industries drives the demand for plasticizers. Flexible packaging provides long-lasting safety, lightweight, and compactness while maintaining a low carbon footprint, which increases demand for PVC from the packaging industry.

Elevated Demand From The Construction Industry Fueling Growth In The Plasticizer Market

The increasing demand from the construction industry is expected to propel the growth of the plasticizer market going forward. The construction industry, also known as the building or construction sector, encompasses a wide range of activities related to the planning, design, development, and construction of buildings, infrastructure, and other structures. Plasticizers are used in construction to improve the workability and flexibility of concrete and mortar, making them easier to mix, pour, and shape while reducing cracking and improving durability. For instance, in July 2023, according to the U.S. Census Bureau, a US-based government institution, the expected annual rate of construction spending in May 2023 was $1,925.6 billion, which was 0.9% higher than the April estimate of $1,909.0 billion. Therefore, increasing demand from the construction industry will drive the plasticizer market. Major companies operating in the plasticizers market report are LG Chem Ltd., Dow Chemical Company, BASF SE, UPC Group, Evonik Industries, Arkema S.A., INEOS Group, Eastman Chemical Company, Exxon Mobil Corporation, Nan Ya Plastics Corporation, Indo-Nippon Chemical Co. Ltd., KLJ Group, Amines & Plasticizers Limited, Lemon-Flex Company Limited, Bluesail Group Co. Ltd., Zhejiangjiaao Enprotech Stock Co.Ltd., Shanghai Rongou Chemical Technology Co. Ltd., Nayakem Organics Pvt. Ltd., Gapuma UK Ltd., Alphagary, Perstorp, DOMO Chemicals, MegaChem (UK) Ltd., Grupa Azoty ZAK S.A., Gazprom Neft, Krahn Chemie Group, SIBUR, GJ Chemical, The Chemical Co., Chemionics Corp., ChemCeed, Valtris, Palmer Holland Inc., Hanwha International LLC, TRInternational Inc., Broadview Technologies Inc., Lestar Química, Innospec, elekeiroz, Laxness, Linevol, BIOPOL S.A., Astra Polymers Compounding Company, Nassagi Iran Rise Alborz, Al Faisal Plastic Company, I. Plast Ltd., Chryso, Misr El-Hegaz Group, nasydco, CEMEX Egypt, Teknor Apex.

Stringent Regulations On Phthalate Plasticizers Hamper Plasticizer Market Growth

The strict regulations on the use of phthalate plasticizers are limiting the growth of the plasticizer market. Phthalate plasticizers are the most commonly used plasticizers due to their easy availability and low cost. Several companies are moving away from phthalate plasticizers as a number of studies reveal the health effects caused by the use of plasticizers. However, non-governmental organizations such as the U.S. Green Building Council (USGBC) promote the use of non-phthalate plasticizers because of their environmentally friendly nature. The application of certain phthalates in many consumer products is prohibited in various countries. Directives such as the EEC Directive and other regulations in Europe ban the use of phthalate plasticizers in some applications. The European Parliament forbids the use of phthalate plasticizers such as DEHP, DBP, and BBP in toys and childcare products. Therefore, strict regulations on using phthalate plasticizers have a negative impact on the plasticizer market's growth.

Growing Demand For Eco-Friendly Plasticizers As Safer Alternatives To Phthalates Plasticizers

Eco-friendly plasticizers are increasingly being used to prevent harmful phthalate plasticizers such as DOP, DBP, BBP, and DEP. Eco-friendly plasticizers have various properties such as waterproofing with good electrical resistivity, weather resistance, better mechanical strength, and good heat stability. Due to these factors, phthalate plasticizers are being replaced with eco-friendly plasticizers. Eco-friendly plasticizers are polymer additives that improve a material's plasticity. The global eco-friendly plasticizer market is growing rapidly due to the increased demand for eco-friendly plasticizers to keep human health and the environment safe. These plasticizers come with low toxicity and good compatibility and are used in various applications, mainly in films and cable manufacturing, and are driving the growth of the plasticizer market.

Innovative Plasticizer Developments

Major companies operating in the plasticizer market are focusing on innovative product developments, such as ELATUR DINCD, to expand their plasticizer portfolio with the latest-generation innovative plasticizer. Eco-friendly plasticizers are a type of chemical additive used in the manufacturing of plastics and related materials that are designed to be more environmentally sustainable and less harmful to human health. For instance, in January 2022, Evonik Industries AG, a Germany-based specialty chemicals company, launched a new plasticizer called ELATUR DINCD, which is a cyclohexanoate characterized by a combination of excellent low-temperature flexibility and high UV resistance. The new plasticizer is easy to process due to its low viscosity and is particularly suitable for demanding exterior and interior applications, such as textile fabrics, roofing membranes, floor coverings, adhesives, and sealants, as well as paints and coatings.

Cargill Strengthens Bio-Based Solutions Portfolio With Acquisition Of Arkema's Manufacturing Capabilities

In September 2021, Cargill Inc., a US-based food corporation, acquired Arkema's for an undisclosed amount. With this acquisition of Arkema manufacturing capabilities with Cargill’s bio-industrial expertise, the company will further support its plastics, automotive, medical, furniture, flooring, and specialty chemicals customers with a broader portfolio of bio-based solutions for applications such as polymer and lubricant modifiers, coalescing agents for paint, and foam for furniture. Arkema is a French-based specialty chemical and advanced materials company. Asia-Pacific was the largest region in the plasticizers market in 2023. North America was the second-largest region in the global plasticizers market. The regions covered in the plasticizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the plasticizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain The plasticizers market consists of the sales of azelates, citrates, ortho-phthalates, terephthalates, and sebacates. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plasticizers market research report is one of a series of new reports from The Business Research Company that provides plasticizers market statistics, including plasticizers industry global market size, regional shares, competitors with a plasticizers market share, detailed plasticizers market segments, market trends and opportunities, and any further data you may need to thrive in the plasticizers industry. This plasticizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Styrene is a colorless, gritty organic compound derived from benzene. Styrene is readily evaporable and is also used as a precursor to polystyrene and several other copolymers. The main types of styrene market are acrylonitrile butadiene styrene, expanded polystyrene, and other types. Expanded polystyrene (EPS) is a rigid, tough, and lightweight thermoplastic product. EPS is good for the packaging and construction industries because of its lightweight, strong, and excellent thermal insulation properties. It is also segmented by application into automotive, construction, packaging, consumer goods, and others that are available through offline and online distribution channels. The global styrene market is segmented - 1) By Type: Acrylonitrile butadiene styrene (ABS), Expanded polystyrene (EPS), Other Types 2) By Application: Automotive, Construction, Packaging consumer goods, Other Applications 3) By Distribution Channel: Offline, Online The global styrene market size is expected to grow from $49.3 billion in 2021 to $52.28 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global styrene is expected to grow to $62.81 billion in 2026 at a CAGR of 4.7%. The high demand for polystyrene drives the growth of the styrene market. Styrene is used to produce polystyrene through suspension polymerization. Polystyrene is a versatile plastic used for the manufacturing of refrigerators, air conditioners, ovens, microwaves, and vacuum cleaners. Polystyrene is majorly used in the packaging industry as it keeps food fresher for a longer duration. The demand for polystyrene is high in the automobile industry, where it is used in manufacturing car knobs, instrument panels, trim, energy-absorbing door panels, and sound-dampening foam. Thus, strong demand for polystyrene has resulted in a rise in demand. For instance, India and Iran are expected to lead the capacity expansion in the forecast period in order to cater to the demand. In India, Supreme Petrochem and LG Polymers India are expected to add 0.15 mtpa and 0.03 mtpa (million tons per annum) respectively. Thus, the rising demand for polystyrene and its derivatives positively drives the growth of the styrene market. Major players in the styrene market are Alpek SAB DE CV, Ashland Inc., Ineos Group AG, Nova Chemicals Corporation, Bayer Material science, Chevron Phillips Chemical Company LLC., ENI S.p.A., INEOS Styrolution Holding Ltd., Saudi Basic Industries Corp. (SABIC), and Total S.A. The increasing health and environmental concerns due to the use of styrene limits the demand for styrene. Styrene is primarily used in the production of plastics and other resins. Short-term exposure to styrene in humans is known to result in mucous membrane and eye irritation and gastrointestinal effects, whereas long-term exposure to styrene results in effects on the central nervous system (CNS), such as headache, fatigue, weakness, depression, CSN dysfunction, hearing loss, and peripheral neuropathy. In animals, oral exposure to styrene affects the liver, blood, kidneys, and stomach. Thus, the ill effects of styrene on health and the environment restrict the growth of the styrene market. The companies in the styrene market are working towards developing techniques to recycle styrene. In order to increase the efficiency and popularity of styrene, companies are investing in developing methods to recycle styrene. In January 2022, Agilyx, a Norway-based chemical recycling firm and Toyo Styrene, a Japanese chemicals firm partnered and commenced the construction of Toyo Styrene Co Ltd polystyrene (PS) chemical recycling plant in Chiba, Japan. The plant will boast the per day capacity to recycle 10 tons of post-use polystyrene, a product produced from styrene and used in the manufacturing of tires, back into new styrene monomer for the future of the industry. In October 2020, Shrieve Chemical Company, a US-based chemicals company acquired Styrene Business unit and other assets of CLP Chemicals for an undisclosed amount. The acquisition expands Shrieve’s products offering and enhances its customer service. CLP Chemicals is an American industrial chemical distributor. Asia-Pacific was the largest region in the styrene market in 2022. North America was the second-largest region in the styrene market report. The regions covered in the styrene analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the styrene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The styrene market consists of the sales of styrene used for making synthetic rubber, resins, and plastics and improving drying oils. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The styrene market research report is one of a series of new reports from The Business Research Company that provides styrene market statistics, including styrene industry global market size, regional shares, competitors with a styrene market share, detailed styrene market segments, market trends and opportunities, and any further data you may need to thrive in the styrene industry. This styrene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Propylene is a basic versatile chemical as ethylene used in the manufacture of common household items. Propylene is a component of the addition polymer poly (propane), and it is also used in the production of epoxy propane and propanol. The main derivatives of propylene are polypropylene, propylene oxide, cumene, acrylonitrile, acrylic acid, acrylates, alcohols, and other derivatives. Polypropylene is a synthetic resin built by the polymerization of propylene. These are used in various applications of organic chemical raw materials, synthetic resins, fine chemicals, and other applications that are implemented by end-user industries such as automotive, construction, packaging, textile, and other end-use industries. The global propylene market is segmented - 1) By Derivatives: Polypropylene, Propylene oxide, Cumene, Acrylonitrile, Acrylic acid & Acrylates, Alcohols, Other Derivatives 2) By Application: Organic Chemical Raw Materials, Synthetic Resins, Fine Chemicals, Other Applications 3) By End User Industry: Automotive, Construction, Packaging, Textile, Other End-Use Industries The global propylene market size will grow from $104.04 billion in 2022 to $107.4 billion in 2023 at a compound annual growth rate (CAGR) of 3.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global propylene is expected to grow to $121.74 billion in 2027 at a CAGR of 3.2%. The propylene market is expected to benefit from growth in the automobile industry during the forecast period. Polypropylene is a polymer produced from the propylene monomer which is used in the automobile industry. Large-scale production of automobiles is leading to an increase in demand for polypropylene products, which are used in the manufacturing of battery cases and trays, bumpers, interior trim, instrument panels, fender liners, door trims, and other components. According to the International Energy Agency, car sales reached 73 million in 2020 and are expected to increase more in the future. Thus, increased use of plastics in automobiles is expected to increase the demand for propylene during the forecast period. Major players in the propylene market are AGC Chemicals, Archer Daniels Midland Company, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical Company, China National Petroleum Corp. (CNPC), China Petrochemical Corporation, Dangote Industries Ltd., Eni SpA, and Enterprise Products Partners L.P. Stringent safety regulations associated with the manufacture and transportation of propylene were a significant market restraint. Propylene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Propylene suppliers should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations. These regulations increased the operating costs of companies in the propylene industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the market growth. Petrochemical companies are adopting on-purpose propylene production technologies to produce propylene as a sole product but not as an alternate or co-product. On-purpose propylene technology refers to a modified version of the traditional fluid catalytic cracking unit which increases propylene yield by 20% more than the actual output. Traditional sources for propylene, which include steam crackers and oil refineries, yield fewer propylene as a derivative or co-product due to a shift in feedstocks from naphtha to ethane. To meet the increased demand for propylene, petrochemical companies are investing in developing on-purpose technologies to accelerate the shortfall in propylene production. Major on-purpose technologies include propane dehydrogenation, methanol-to-olefins/methanol-to-propylene (MTO/MTP), high-severity fluidized catalytic cracking (HS-FCC), coal-to-olefins/coal-to-propylene (CTO/CTP), and gas-to-olefins (GTO). For instance, major companies adopting this technology include BASF, Dow Chemical, ExxonMobil Chemical, and Sidi Kerir Petrochemicals Co (SIDPEC). In January 2022, Invista, a US-based fiber, resin and intermediates company acquired propylene business of Flint Hills Resources for an undisclosed amount. The acquisition includes chemical facilities in Houston and Longview, Texas, ownership of pipelines that supply facilities, and support employees. The deal added propylene portfolio to Invista and enables future growth. Flint Hills Resources is an American refining company. The Asia-Pacific was the largest region in the propylene market in 2022. North America was the second-largest region in the global propylene market. The regions covered in the global propylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the propylene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The propylene market consists of the sales of propylene used in the production of acrylics, rubbing alcohol, epoxy glue, and carpets. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The propylene market research report is one of a series of new reports from The Business Research Company that provides propylene market statistics, including propylene industry global market size, regional shares, competitors with a propylene market share, detailed propylene market segments, market trends and opportunities, and any further data you may need to thrive in the propylene industry. This propylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.