Global Titanium Dioxide (TiO2) Market is Expected to Witness Significant Growth till 2024 | Hexa Research

26 November 2018, The Global Titanium Dioxide Market is expected to reach USD 27.49 billion by 2024 owing to the increasing demand of titanium dioxide in paper, paint & coating, cosmetics, and plastic industries. In 2014, DuPont titanium technologies started a manufacturing facility in Alamira, Mexico having a capacity of 200,000 tons/year which will help in fulfilling the demand worldwide.

Rising demand for lightweight automobiles is expected to play a vital role in growth of global titanium dioxide market. Materials such as polycarbonates are used in manufacturing of lightweight automotive which have low scratch resistance value. Also, the product is used in various industries such as chemical intermediates, fiber, technical titanium, inks for printer and rubber.

Keeping these driving factors in mind, companies are ramping up their production capacity. In 2015, PPG International entered in a partnership agreement with Henan Billions Chemicals Co. LTD. to setup a new manufacturing unit for titanium dioxide which is expected to produce 100,000 metric tons per year to expand its footprint in Asia Pacific. Companies such as Argex Titanium are using unique patented CTL process which involves low cost feed stock material and solvent extraction method to produce high quality product.

Also, companies are focusing on increasing the applications of titanium dioxide int water treatment using techniques such as photo catalysis, in which titanium dioxide is used to speed up the solar disinfection process.

In 2016, paint & coating segment contributed 57.4% in terms of revenue. It was also extensively used in plastics industry, paper industry, inks, and other specialty segments. The growth of these sectors is expected to boost the market positively over the next few years.

Plastic industry was the second largest segment due to the increasing applications as an excellent thermal stabilizer. In 2016 plastics segment contributed 23.2% in terms of revenue and is expected to grow with a positive CAGR during forecast period.

Paper industry is the third largest user of titanium dioxide and contributed 10.4% in terms of revenue globally. Titanium dioxide is used in manufacturing of decorative papers, these are used in manufacturing of flooring, furniture and wallpapers. Demand for high end furniture is increasing which is expected to boost the demand for titanium dioxide. The paper industry is expected to contribute about 10.4% during the forecast period.

The global titanium dioxide market is expected to grow at a very lucrative rate due to its use in various above mentioned industries. Also, titanium dioxide is used as a substitute for talc and kaolin which in turn is expected to boost the market for titanium dioxide.

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Bioplastic Packaging Market Size, Share, and Forecast to 2024 - Hexa Research

26 November 2018 , The Global Bioplastic Packaging Market to reach USD 34.24 billion by 2024, driven by the rising consumer demand for resource efficient and eco-friendly products. Europe was the largest market accounting for 32.7% of the volume share in 2016 due to supporting regulations coupled with consumer awareness regarding the conservation of the environment. North America and Asia Pacific followed suit, where the regions together are expected to contribute USD 3.26 billion by 2024.

Keeping these driving factors in mind, companies are ramping up their production capacity as well as foraying into R&D of application of new biopolymers into mainstream applications. For instance, in October 2016, BASF and Avantium entered into a joint venture to form Synvina JV, which will manufacture and market FDCA and PEF. Synvina JV has a production capacity of 50,000 metric tons per year for FDCA and PEF.

Moreover, companies are focusing on R&D to expand the utilization of different raw materials such as PBS, PLA, and PBAT in various mainstream packaging applications. For instance, in April 2017, UK-based Biome Bioplastics developed a fully compostable and recyclable coffee cup made entirely from bioplastic materials. These factors together are expected to provide an impetus to the growth of the bioplastic packaging market over the next seven years.

PET dominated the global market contributing to USD 1.84 billion in 2016. The polymer was extensively used in rigid packaging on account of its high durability, transparency, and ease of moldability. Initiatives undertaken by companies such as Coca-Cola, P&G, and Heinz to use bio-based materials for packing beverages, sauces & spreads and cosmetics is expected to bolster the growth of the rigid packaging market.

Increasing demand for flexible packaging solutions on account of several benefits including size and weight particularly in food applications coupled with rising demand for biodegradable films is anticipated to boost the growth of the market. The segment is expected to grow at a volume CAGR of 20.6% from 2017 to 2024.

Food packaging accounted for 9% of the overall market share in 2016 and is likely to witness above average growth as a result of rising consumer requirement for eco-friendly packaging. Aesthetic attributes such as transparency, size, weight and presentation are expected to drive the growth of the segment over the projected period.

The growth of the global bioplastic packaging industry driven primarily by consumer demand is also likely to be favored by the implementation of stringent regulations for its synthetic counterparts. Despite the fall in crude oil prices, companies such as BASF, Arkema Dow, Solvay, and Braskem are continuing production at their facilities and focusing on R&D. These factors are likely to result in a tremendous growth of the global bioplastic packaging market growing at a revenue CAGR of 28.3% over the next seven years.

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Global Automotive Infotainment Market is Expected to Witness Significant Growth by 2024

26 November 2018, The Global Automotive Infotainment Market is expected to reach USD 40.17 billion by 2024 driven by the rising consumer demand for in-vehicle entertainment. Technological advancement coupled with the rising disposable income of the population contributing to the huge demand for passenger cars and other vehicles is expected to play a vital role in driving market growth.

North America dominated the global market contributing to 35.2% of the revenues generated in 2016. Rapid adoption of these systems by consumers has resulted in the presence of a robust market in the region.

Asia Pacific is expected to show significant growth at a CAGR of 14.7% over the forecast period owing to the rising consumer income, growing urban population and increasing sale of luxury cars. Acknowledging above factors, car manufacturing companies are partnering with audio equipment manufacturing companies to enhance their cars with high-quality infotainment products. For example, Toyota has been using BlackBerry’s QNX in their cars for the last four years.

Blackberry’s QNX has been the most widely used OS, on account of its ability to provide automate the car by providing hands-free calling, mapping, and internet service. However, Linux is expected to take over the leading position and grow at the fastest CAGR of 32.9% over the forecast period. Preference of open source as it allows car manufacturers to tweak the module to provide unique features limited only to a company is expected to augment growth.

North America was the largest market in 2016 owing to the high adoption rate of the technology coupled with consumer preference of an automated car over manual ones. Moreover, the emergence of mobile phones in the last decade coupled with the rising number of accidents caused due to distractions has resulted in a high demand for digitalized and automated infotainment systems.

Options such as mobile connectivity via Bluetooth, wi-fi, USB ports and cloud data & data storage is expected to fuel the automotive infotainment market owing to easy consumer access to daily work. Growing use of navigation system in commercial vehicles to search for more efficient routes and to save time is anticipated to be the key drivers in the rising installation of navigation system which is further expected to fuel the market for automotive infotainment systems.

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Commercial Telematics - Smart Connectivity Systems in passenger cars as well as commercial vehicles

17 October 2018, The Global Commercial Telematics Market is expected to reach USD 114.28 billion by 2025 on account of to the rapid penetration of smart connectivity systems in passenger cars as well as commercial vehicles. Continuous software developments to link Smartphone’s to the vehicle to improve drive quality, increase road safety, and monitor real-time positioning of automobiles to avoid congestions in case of any emergency situations are key parameters contributing to the growth of the market.    

Features such as vehicle tracking, fleet management, satellite navigation, and wireless vehicle safety ensure improved ride quality. Such features are expected to fuel the market over the forecast period.

Solutions such as infotainment systems and services such as maintenance & training services are gaining momentum pertaining to rising awareness regarding driver and passenger safety. Furthermore, supporting government regulations regarding implementation of automotive telematics are expected to drive the market over the forecast period. For instance, in March 2016, the Japanese government joined hands with the U.S. and Europe for R&D on autonomous vehicles where commercial telematics have a wide scope.

Insurance telematics accounted for 10.2% of the overall market share in 2016. The segment is anticipated to experience high demand for commercial telematics over the forthcoming years attributed to the need to increase safety and reduce the loss from accidents.

Integration and deployment have important features such as safety-related data, location-based data, diagnostic data, communication features and interactivity features. These features help the commercial vehicles to keep a complete track of the vehicle and are very useful in various instances such as breaking down of the vehicle, track fuel efficiency and radio communication. The segment is likely to grow at a 24.4% CAGR over the forecast period.

North America and Europe together dominated the global market contributing to over 65% of the revenues generated in 2016. The rise in concern of security, driver safety, and the increase in the need for vehicle tracking are some of the key factors resulting in the technology establishing a strong foothold in the regions over the past few years.

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Global Hernia Repair Market is Expected to Reach USD 6.60 Billion by 2024

16 October 2018, The global Hernia Repair Market is expected to reach USD 6.60 billion by 2024. Rigorous research & development activities, growing number of obese patients and high susceptibility of geriatric patients to suffer from hernia are expected to drive the market over the forecast period. Increasing technological sophistication in repair devices and rigorous research and development of the drug-eluting mesh is projected to boost the demand for hernia repair devices and consumables.

Post-operative pain is growing concern post-repair with synthetic mesh. Though the cause of pain varies from patient to patient, a primary reason for pain is inflammation associated with the synthetic mesh. Other chronic illnesses related to the use of implanted mesh are abdominal pain, infection (sepsis), bowel obstruction and adhesion. In spite of increasing technological sophistication in mesh technology, synthetic materials remain the most widely used mesh products for hernia repair especially the polypropylene mesh due to their low cost and easy availability.

The biological mesh is gaining momentum in developed countries especially in the U.S. Biologic mesh development has overcome the problem associated the synthetic mesh including foreign body interaction, chronic inflammation, infection, and stiffness. Presence of favorable reimbursement policies coupled with the well-regulated healthcare insurance and increasing prevalence of an inguinal and ventral hernia in developed economies have rendered increased acceptance of this product. 

The above mentioned factors collectively boost demand for overall hernia repair consumables and surgical devices market over the forecast period. Owing to shortcomings of synthetic mesh, manufacturers are working on developing cost-effective and technological advanced mesh. For instance, Ariste Medical is developing drug-eluting mesh. These repair products are anticipated to improve the patient outcomes specifically in vascular procedures including hernia and peripheral bypass hemodialysis processes.

Also, manufacturers are focusing on developing composite or hybrid mesh. The hybrid mesh is a result of the combination of best features of biologic and synthetic mesh. Mesh that combines a minute quantity of synthetic material such as polypropylene and biologic building blocks derived from animal tissue has the property to diminish the hazards of inflammatory reactions along with providing long-term durability.

Medtronic and COOK Medical are investing in the development of cost-effective composite mesh. This product may overcome the disadvantages associated with the synthetic mesh such as inflammation, sepsis and abdominal adhesion. These factors render cost advantage over the biologic mesh, which in turn is expected to boost the hernia repair market.

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U.S. Kaolin Market Share, Size, Analysis, Growth, Trends and Forecasts to 2025

16 October 2018, The U.S. Kaolin Market size valued at USD 1.29 billion in 2016 is anticipated to be driven by the growing consumption of cement, fiberglass, plastics, paints, and adhesives in numerous end-use sectors including construction and automobile. Rising infrastructure spending coupled with the increasing automobile production is expected to propel growth.

Kaolin is used in a variety of products that are utilized in the construction industry including cement, paints, adhesives, plastics, rubber, ceramics, and fiberglass. The penetration for kaolin in these applications has been increasing as they are not only effective in bringing down the overall cost of the final product, but they also increase the durability of the base material.

Fiberglass is used mesh fabrics, self-adhesive tapes, and wall covering owing to its ability to add strength and resistance to impact and fire. Fiberglass in the form of GFRP composites is used in a wide range of end-use sectors including wind energy, transportation, aerospace, marine, and civil construction. The growth of these end-use sectors on account of improving economic conditions in the country is anticipated to drive the demand for fiberglass, and in turn, the kaolin market. Fiberglass market is estimated to generate revenues worth USD 549.1 million by 2025.

Technological advancements in the process of manufacturing plastics have resulted in the incorporation of numerous additives including fillers such as kaolin. Increasing production of plastics is expected to augment the demand for kaolin over the forecast period. The segment is projected to grow at a volume CAGR of 5.3% over the projected period.

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Worldwide Phosphate Rock Market is Expected to Witness Rapid Growth till 2024

15 October 2018, The Global Phosphate Rock Market is expected to reach 268.0 million tons by 2024 as a result of its increasing demand in the downstream sector for producing fertilizers. It is the only global resource which is used in agriculture and fertilizer industry.

The mineral is a vital ingredient used for manufacturing NPK fertilizers. Therefore, the growing demand for fertilizer is expected to be the primary driving factor for the growth of the market over the next few years. Moreover, the absence of substitutes is expected to result in negligible substitution threat.

Additionally, one of the factors for fertilizer consumption growth is directly related to the global increasing calorie consumption per capita. High-calorie consumption foods are becoming popular, with rising prevalence of oilseeds, dairy and meat which are directly increasing the demand for stock feeds, grain, and agricultural production.

Demand for phosphate rock in Asia Pacific was 127.94 million tons in 2016 and is anticipated to maintain its dominant position over the forecast period owing to the presence of numerous agriculture-oriented economies. Rising demand for the mineral as an additive for feed & food as well as manufacturing of industrial chemical coupled with the growth of the manufacturing sector in the region is expected to drive the market. In developing countries such as Brazil, China and India, growing demand for cleansing and detergent agents are projected to drive the market in the coming few years.

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