Macroeconomic Overview & Key Drivers of Plastic Pigments Market Industry

The market size of plastic pigments is estimated at USD 10.3 billion in 2018 and is projected to reach USD 14.8 billion by 2023, at a CAGR of 7.5% from 2018 to 2023.

Increasing demand for plastics in the automotive industry, increasing significance of aesthetics in packaging, industrialization in emerging economies, and high demand for high-performance pigments (HPPs) are expected to drive the demand in the plastic pigments market during the forecast period. 

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The key players in the plastic pigmentsmarket include, Clariant (Switzerland), BASF (Germany), DIC (Japan), Huntsman (US), Cabot (US), LANXESS (Germany), PolyOne (US), Chemours (US), Heubach (Germany), Tronox (US), and Ferro (US). The plastic pigments market report analyzes the key growth strategies adopted by leading market players, between 2013 and 2018, which include investment & expansion, new product launch, agreement, partnership & joint venture, and merger & acquisition.

Clariant is among the key players in the plastic pigments market, which has adopted both organic and inorganic strategies, such as new product launch, investment & expansion, and merger & acquisition. Its plastics and coatings segment accounted for maximum sales, i.e., 42% of the overall revenue of the company in 2017, which indicates that the company is strengthening its presence in the plastic pigment market. The focus on R&D has helped the company come up with more innovative products as compared with its competitors. Over the last few years, the company has been concentrating on the emerging markets, such as APAC and the Middle East & Africa to achieve its growth targets. For instance, in April 2013, Clariant planned to invest in a new pigment plant in Indonesia to cater to customer demand in China, India, and Indonesia.

                                                                       

BASF leads the plastic pigments market. Dispersions & pigments, which is a part of the company’s performance products business segment, accounted for 33.0%, in 2017. Its pigments business unit is capitalizing its growth by mainly focusing on innovation and expansion. This will, in turn, improve the quality and performance of its pigment products. Excellent combination of color effect, high reliable processing capability, and high durability of plastics can be achieved by the pigments offered by the company. In June 2016, BASF launched a pigments brand, ‘Colors & Effects’, which
offers various pigments to fulfill the demand from the plastic industry. The company is focusing on providing sustainable solutions as sustainability will serve as a start point for new business opportunities in the future, and it is also the key to long-term success. BASF mainly caters to Europe and is targeting the emerging markets of APAC, the Middle East & Africa, and South America to expand its business in these markets. 

Increasing demand for plastics in the automotive industry and high demand for high- performance pigments (HPPs) globally are expected to drive the plastic pigments market during the forecast period.

 

The market size of plastic pigments is estimated to be USD 10.3 billion in 2018 and is projected to reach USD 14.8 billion by 2023, at a CAGR of 7.5%, from 2018 to 2023. One of the major restraints of the plastic pigments market is increasing environmental regulations related to application areas of pigments, use of raw materials for pigments, and safety evaluations. Thus, these environmental regulations can delay or even prevent the launch of new products, increasing the prices of any new product and restrain the market growth.

Environmental regulations related to plastic consumption and in general, the plastic industry, are expected to affect the plastic pigments market. In addition, the consumption of pigments in the packaging industry in plastics is regulated by regulations, such as The Food Additives Amendment of 1958, US Food and Drug Administration, regulations imposed by European Union (EU) and other regulations related to the hazardous nature of pigments. These regulatory factors along with increasing regulations in the plastic industry are expected to affect the plastic pigments market.

Organic pigment is the faster-growing type owing to its lightweight, small particle size, resistance to wetting, transparency, tinting strength, lightfastness, and other properties. However, increasing regulations in the plastic pigments market would, in turn, increase the demand for plastic pigments.

Packaging is the fastest-growing end-use industry of plastic pigments. The packaging industry is growing across various sectors, such as food & beverage, healthcare, cosmetics and other consumer goods due to the increasing use of plastics in these industries. The use of plastics in the packaging end-use industry is the highest compared to that of other packaging materials, such as paper, metal, and fiber. Overall, the increasing use of plastics has resulted in high demand for plastic pigments in plastic packaging. Thus, the factors mentioned above are projected to drive the plastic pigments market in the packaging end-use industry, by 2022.

APAC is the fastest-growing market of plastic pigments, by region. This region has huge growth potential for the plastic industry. The plastic consumption is increasing with innovations in the industry and expansion in manufacturing bases. These factors have accelerated the growth rate of the pigment consumption in plastics. China and India are the major markets of plastic pigments in the region owing to the growth of infrastructure and increasing domestic and international trade of plastic pigments. China is the leading manufacturer as well as the consumer of pigments, globally. The presence of a strong downstream customer base and gradually maturing production technology are propelling the demand for plastic pigments in the region. In July 2018, BASF planned to increase its production capacity of isoindoline yellow pigments by 70%, by 2020. This expansion will enable the company to cater to the growing demand for high-performance pigments in the market. Also, Clariant introduced a new color range named “Super-transparent” in North America, in April 2018. The “Super-transparent” range will help in providing metallic and mineral-effect shades. This development will help the company to cater to the increasing demand for plastic pigments, globally.

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At a CAGR of 12.1% - Waterproofing Chemicals Market worth 30.88 Billion USD by 2021

“Improving economics and quality of construction are set to drive the waterproofing chemicals market”

The waterproofing chemicals market size is estimated to reach USD 30.88 billion by 2021, at a CAGR of 12.1%. The use of waterproofing chemicals, in the form of waterproofing admixtures, is used for the reduction in water-cement ratio, early and delayed forming of concrete, enhanced durability, modification in physical and chemical properties (strength, resistance to corrosion, and weather resistance). All these properties have enabled the use of waterproofing chemicals for almost every application. Therefore, the market is set to grow with the growth in related industries during the forecast period.

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“Waste & water management is one of the fastest-growing applications of waterproofing chemicals”

Waste & water management application is estimated to register the highest growth between 2016 and 2021. The high growth is attributed to the increasing population, urbanization, and industrialization, due to which there is an increased need for water management activities to optimize the use of water in developing as well as developed countries. In 2015, the waste & water management segment accounted for the third largest market share among all applications, in terms of value and volume.

“Rising demand from Asia-Pacific is a major driver of the waterproofing chemicals market“

Asia-Pacific is expected to be the fastest-growing market of waterproofing chemicals, in terms of value and volume, in the forecast period. China and India are the two major markets of waterproofing chemicals in Asia-Pacific. The Chinese building & construction industry has the largest share in Asia-Pacific resulting in an increased growth of the market. Also, under building & construction industry, relatively high growth was witnessed under the commercial building & construction industry, and, high-end real estate, which is  expected to drive the demand for waterproofing chemicals in both China and India.

The break-up of primary interviews is given below.

•   By Company Type: Tier 1 – 33%, Tier 2 – 60%, and Others – 7%

•   By Designation: C level – 56%, Director level – 33%, and Others –- 11%

•   By Region: North America – 27%, Europe – 46%, Asia-Pacific – 20%, and RoW* – 7%

*RoW includes Latin America, the Middle East& Africa.

The key companies profiled in this report are The Dow Chemical Company (U.S.), BASF SE (Germany), and Wacker Chemie AG (Germany), and waterproofing system manufacturing companies, such as, SIKA AG (Switzerland), Carlisle Companies Inc. (U.S.), and W.R Grace & Company (U.S.).

The report will help the market leaders/new entrants in this market in the following ways:

1.    This report segments the waterproofing chemicals market comprehensively and provides the closest approximations of the market size in terms of value and volume for the overall market and the subsegments across different verticals and regions.

2.    The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

3.   This report will help stakeholders understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product developments, expansions, agreements, acquisitions, and joint ventures.

Macroeconomic Overview & Key Drivers of Battery Electrolyte Market Industry

The battery electrolyte market is projected to grow from USD 4.20 billion in 2018 to USD 6.18 billion by 2023, at a CAGR of 8.1% from 2018 to 2023. Increasing adoption of EV to reduce carbon footprint, rapid increase in automotive sales, high demand from replacement market of automotive batteries, and increasing share of alternative energy sources in the energy mix are the key factors driving the growth of the battery electrolyte market. APAC is home to some of the leading lithium-ion battery manufacturers in the world, including CATL (China), BYD (China), LG Chem (South Korea), Panasonic (Japan), and Samsung SDI (South Korea). These lithium-ion battery manufacturers are keeping the demand for lithium-ion battery electrolyte high in the region. Mitsubishi Chemical Corporation (Japan), Ube Industries (Japan), Shenzhen Capchem Technology Co., Ltd. (China), Johnson Controls (US), Guangzhou Tinci Materials Technology Co., Ltd. (China), GS Yuasa Corporation (Japan), 3M (US), BASF SE (Germany), LG Chem (South Korea), and American Elements (US) are some of the leading players operating in the battery electrolyte market.

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These leading players have adopted the strategies of expansions, acquisitions, and joint ventures to cater the increased demand for battery electrolyte from various battery manufacturers.

In March 2018, Shenzhen Capchem partnered with Eve Energy to build a production line to manufacture chemicals used in lithium-ion batteries. This new plant will produce 20,000 tons of lithium-ion battery electrolyte annually. With this development, the company will focus on expanding the production capacity to sustain its market leadership in China. Shenzhen Capchem is focusing on expansion as the key strategy for growth. The company is planning to set up a LiB electrolyte factory in Jinmen City, Hubei Province (China) with a capacity of 20,000 metric tons and another LiB electrolyte factory in Poland with a capacity of 20,000 metric tons. In October 2017, the company acquired BASF’s electrolyte manufacturing facility located in Suzhou, China. With this acquisition, the company has further strengthened its foothold in China. Shenzhen is among the leading companies in the China lithium-ion battery electrolyte market.

In October 2016, Mitsubishi Chemical Corporation entered into a joint venture agreement with Ube Industries. The two companies tied up for their lithium-ion battery electrolyte business in China. With this, the companies can capitalize on the growing demand for lithium-ion batteries from the consumer electronics and electric vehicles industries.

The battery electrolyte market is projected to grow from USD 4.20 billion in 2018 to USD 6.18 billion by 2023, at a CAGR of 8.1% from 2018 to 2023. Improving performance of lithium-ion batteries and dropping USD/KWh prices of batteries are expected to create opportunities for the battery electrolyte market across the globe.

Electric Vehicles Initiative (EVI) is a multi-government policy to accelerate the adoption of electric vehicles worldwide. The current EVI members list includes Canada, China, Finland, France, Germany, India, Japan, Mexico, the Netherlands, Norway, Sweden, the UK, and the US. These countries have set an ambitious target to change 30% of their total vehicles fleet to electric vehicles. Investments are being done in the lithium-ion battery electrolyte market owing to the increasing production of lithium-ion batteries.

Based on battery type, the lithium-ion battery electrolyte segment of the battery electrolyte market is projected to grow at a higher CAGR from 2018 to 2023. The increased production of lithium-ion batteries for EV is the main reason for the growth of this segment.

Based on state of electrolyte, the liquid lithium-ion battery electrolyte segment of the battery electrolyte market is projected to grow at the highest CAGR from 2018 to 2023. Lithium polymer pouch batteries, which consume liquid electrolyte, are widely used in portable devices such as cellphones, laptops, digital cameras, etc.

The Asia Pacific, North America, and Europe regions are the major markets for battery electrolyte due to the presence of leading battery manufacturers in these regions. Various leading players have adopted the strategies of expansions, acquisitions, and joint ventures, to meet the growing demand for battery electrolyte from various leading battery manufacturers in these regions. The battery electrolyte market is witnessing high growth as various market players have expanded their areas of operations and production capacities to strengthen their market positions. Future trends in the market would largely depend on the regulations, availability of raw materials, and investments in end-use industries of batteries.