Top Foam Market Industry Leaders & Revenue

The foam market size is estimated at USD 93.9 billion in 2021 and is projected to reach USD 118.9 billion by 2026, at a CAGR of 4.8% between 2021 and 2026. The market is propelled by the growth of various end-use industries. Increasing investments in infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted market growth.

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BASF SE (Germany), Armacell International S.A. (Germany), JSP (Japan), Kaneka Corporation (Japan), Recticel (Belgium), Rogers Corporation (US), Sealed Air Corporation (US), Arkema (France), and Zotefoams Plc (UK) are some of the major players catering to the demand for foam, globally. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, partnership & agreement to grow in the market. Merger & acquisition was the key strategy adopted by the major players between 2017 and 2021. This strategy strengthened their market position and increased their presence in emerging economies.

BASF SE is a leading chemical company that offers a range of chemicals and intermediate solutions. The company operates through six business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions. BASF SE has a strong customer base and operates in around 90 countries in Europe, APAC, North America, South America, Africa, and the Middle East.

Sealed Air Corporation brings together packaging materials, services, equipment, and automation to provide essential protection for products. The company operates under two main business segments—food care and product care. Its products are used in a wide range of industries such as meat, poultry, seafood, e-commerce, food retail & service, industrial & transportation, consumer goods & retail, electronics, and healthcare & pharmaceuticals. The company serves about 124 countries in North America, Europe, the Middle East, Africa, APAC, and South America, and has 95 manufacturing facilities and 56 research facilities. It has 2,700 patents and pending applications worldwide and five comprehensive packaging development and innovation centers.

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Foam is manufactured using raw materials such as polymers, naphtha, resins, and additives. Lightweight material with low density, foam can be either rigid or flexible. Most foam is flexible and soft. Some types of foam have low heat or sound transfer properties, making them optimal insulators. Polyurethane (PU), polystyrene (PS), polyolefin (PO), phenolic, polyethylene terephthalate (PET), melamine, phenolic, PVC, silicone, and PVDF are the major types of foam.

The foam market size is estimated at USD 93.9 billion in 2021 and is projected to reach USD 118.9 billion by 2026, at a CAGR of 4.8% between 2021 and 2026. The market is propelled by the growth of various end-use industries. Increasing investments in infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted the market growth.

Foam is widely used in the automotive, building & construction, packaging, footwear, sports & recreational, and furniture & bedding industries. Flexible PU foam is extensively used in the automotive and building & construction industries. It helps automobile manufacturers address issues related to weight reduction, vibration absorption, fuel efficiency, and durability.

The foam market is driven by increasing demand from the packaging, automotive, and building & construction industries. The rising demand for high-quality products from APAC, the Middle East & Africa, and South American countries is also driving the market. Emerging economies such as India, China, Brazil, Southeast Asia, and Mexico are expected to be the most lucrative destinations for the foam market in the near future. The major challenges for foam manufacturers are the increasing prices and stringent regulations set by various governments. Fluctuation in raw material prices is also a restraining factor for the market.

Continuous developments in the market, including new product launches, investment & expansion, merger & acquisitions, and partnerships& agreements are expected to help the market grow. Several products are being introduced, and investments are made in increasing the production capacity of polyolefin foam by manufacturers for different applications. New product launch has helped companies enhance their product portfolio.

How will Improve Face Shield Market Industry Revenue ?

The face shield market is estimated to grow from USD 3.0 billion in 2020 to reach USD 4.1billion by 2025, at a CAGR of 6.5%.Factors such as Factors such as awareness due to outbreak of COVID-19 pandemic, stringent regulations pertaining to safety of personnel, and rising awareness about industrial occupational hazards is driving the face shield market.

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Based on type, the face shield market is segmented into disposable and reusable. The disposable segment comprises face shields which are readily available and produced from low quality material and are used only once. These are extensively used by healthcare and frontline workers. These face shields are used once and disposed in order to prevent healthcare workers from contamination. Since these are manufactured from low quality material, it is not advisable to clean and reuse them. This segment has higher demand in healthcare facilities due to the outbreak of the pandemic. The reusable segment comprises face shields which are made from high quality material and meet all quality standards. These are used by manufacturing, construction, and oil & gas site workers. Due to the ongoing pandemic, the general public is also using face shields to protect themselves from contamination in public zones. Reusable face shields can be easily disassembled for cleaning.

Based on tier, the face shield market has been segmented into premium, medium, and value.Face shields are personal protective equipment devices used by many workers (e.g., medical, dental, veterinary) for the protection of the facial area and associated mucous membranes (eyes, nose, mouth) from splashes, sprays, and spatter of body fluids. Face shields are also used in various industries such as manufacturing, construction, oil & gas, and transportation as protection against harmful chemicals and materials. Face shields are generally not used alone, but in conjunction with other protective equipment and are therefore classified as adjunctive personal protective equipment. Face shields are primarily used by medical professionals and industry personnel as a part of the Personal Protective Equipment (PPE) kit. They are also used by the common people to protect themselves from viral diseases such as COVID-19 and swine flu.

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Based on end-use, the face shield market has been segmented intohealthcare, manufacturing, construction, oil & gas, transportation, and others.Traditionally, face shields have been used in hospitals and for industrial purposes. They were rarely used by the general public. But over time, due to the need for protection and repetitive outbreaks of infectious viruses, face shields have started gaining popularity in the personal/individual protection segment as well.

On the basis of region, APAC dominated the global face shield market in 2019, followed by North America and Europe. The growing economies in China and India and the growth and improvement in healthcare infrastructure in Southeast Asian countries are the major factors driving this market. In addition, the rising geriatric population in countries such as Japan, growing per capita income, increasing investments in the healthcare industry, expansion of private-sector hospitals to rural areas, and rapid economic growth are also supporting this market. The rise in the construction and manufacturing industry in these regions is also surging the demand for face shields in these industries.

The face shield market is fragmented with several large players and a few small and medium-scale players. Leading manufacturers such as 3M (US), Honeywell International Inc. (US), Kimberly-Clark Corporation (US), MSA Safety Inc. (US), Lakeland Industries (US), Radians Inc (US), DuPont Teijin Films (US), MCR Safety (US), Protective Industrial Products (US), Prestige Ameritech (US) have adopted expansion, new product launch, and acquisitionstrategies to gain advantage over their competitors.

Oxygenated Solvents Market Industry Leaders - 2020

The oxygenated solvents market is estimated to grow from USD 22.28 billion in 2017 to USD 32.27 billion by 2022, at a CAGR of 7.8%. The use of oxygenated solvents in applications such as paints & coatings, pharmaceuticals, cleaning, personal care, crop protection, and lubricants is driving the market for oxygenated solvents globally. The market is expected to grow high in Asia-Pacific and the Middle East & Africa during the forecast period.

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Expansions, new product launches, agreements, and mergers & acquisitions were the strategies adopted by the leading players to enhance their presence in the oxygenated solvents market between January 2014 and June 2017. Eastman Chemical Company (U.S.), LyondellBasell (Netherlands), OXEA (Germany), The Dow Chemical Company (U.S.), SINOPEC (China), Petronas (Malaysia), Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), and BASF (Germany) are some of the leading players operating in the oxygenated solvents market.

 

BASF has a strong brand image, wide geographical reach, and well-established distribution network. The company has made several agreements recently to enhance the distribution of its products, develop innovative solutions, and increase its market share in the oxygenated solvents business. The solvent manufacturing facilities of the company are situated in the U.S., Germany, Belgium, Malaysia, and China with sales and distribution channels worldwide. In February 2016, the company signed a distribution agreement with Nexeo Solutions, which is a privately owned chemical distributor, for the distribution of BASF’s specialty high-performance solvents in the U.S. and Canada. The agreement helped the company cater to the demand for solvents in these countries. In addition to the agreement, the company also expanded its 1,4-butanediol (BDO) solvent facility in January 2015.

OXEA has focused on expansions and new product launches to strengthen its position in the oxygenated solvents market. The company has a presence in North America, Europe, and Asia, with manufacturing facilities in all these regions. It offers several oxygenated solvents that cater to the demand of various applications. In March 2017, Oxea GmbH started the expansion of its propanol manufacturing facility in the U.S., with a new propanol plant. The expansion helped the company to cater the demand of propanol in North America.

Phase Transfer Catalyst Market Industry Key Revenue Pockets - 2020

The global phase transfer catalyst market is estimated to be USD 960 million in 2018 and is projected to reach USD 1,232 million by 2023, at a CAGR of 5.1%. This growth is mainly attributed to the high demand from the pharmaceutical and agrochemical end-use industries for green chemistry compounds for chemical synthesis. 

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A phase transfer catalyst is a heterogeneous positive catalyst that facilitates reaction between 2 substances located in different immiscible phases. It accelerates the rate of reaction and helps in solubilizing salts into organic phases. The phase transfer catalyst is used for the chemical synthesis of organics, such as pharmaceuticals, dyes, and chemicals, among others. It is majorly used to migrate ionic reactants as these are insoluble in organic phases. The phase transfer catalyst market size is estimated to grow from USD 960 million in 2018 to USD 1,232 million by 2023, at a CAGR of 5.1%. The major factors driving the phase transfer catalyst market include rising demand and adoption of green chemistry in organic synthesis. However, technological advancements in chemical synthesis for the reduction of catalyst consumption is a major challenge for the phase transfer catalyst market.

The phase transfer catalyst market has been segmented on the basis of type into ammonium salts, phosphonium salts, and others that include crown ethers and cryptands. Among these, the ammonium salts segment is expected to register the highest growth during the forecast period. There is a high demand for tetra butyl ammonium bromide, tetrabutylammonium hydrogen sulfate, tetrabutylammonium fluoride trihydrate, and tetrabutylammonium chloride, among others, which are easily available and inexpensive in comparison to other phase transfer catalysts. In addition, growing demand for inexpensive phase transfer catalysts from emerging regions, such as Asia Pacific and Middle East & Africa is expected to drive the growth of the ammonium salts segment in the phase transfer catalyst market during the forecast period.

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Based on end-use industry, pharmaceutical is expected to be the fastest-growing end-use industry in the phase transfer catalyst market during the forecast period. The pharmaceutical industry is the chief consumer of phase transfer catalysts, owing to the high demand for sustainable chemicals in applications, such as the formulation of drugs or derivative compounds, synthesis of drugs, and active pharmaceutical ingredients, among others. The pharmaceutical end-use industry is expected to witness rapid growth in the Asia Pacific, North America, and European regions owing to increasing populations and lifestyle diseases. All these factors are leading to the growth of the pharmaceutical end-use industry in the phase transfer catalyst market during the forecast period. 

The Asia Pacific phase transfer catalyst market is expected to grow at the fastest rate during the forecast period due to the high demand for inexpensive heterogeneous catalysts to increase the velocity of reactions for applications in the pharmaceutical and agrochemical end-use industries. The phase transfer catalyst market in the Asia Pacific is driven by demand from countries, such as China, Japan, India, Australia, and South Korea owing to rapid economic development and growth in industrialization.

Companies manufacturing phase transfer catalysts majorly focus on the production of ammonium salts majorly for pharmaceutical, agricultural, and chemical products. Therefore, these companies foresee opportunities in tapping new application areas in industries, such as textiles, chemicals, and cosmetics, among others. Furthermore, companies can expand their businesses in emerging markets across the Asia Pacific, Middle East & Africa, and South America. The Asia Pacific is a very lucrative market for phase transfer catalysts due to the high demand from emerging economies, such as India, China, Australia, and South Korea. These emerging countries are hubs for the pharmaceutical and chemical industries.

Paint Protection Films Market Industry Leaders & Key Revenue Pockets - 2020

In terms of value, the global paint protection films market size is estimated to be USD 242 million in 2019 and projected to reach USD 341 million by 2024, growing at a CAGR of 7.1% from 2019 to 2024. Increasing sales of luxury cars globally, coupled with the rising consumption of thermoplastic polyurethane material is expected to drive the growth of paint protection films industry during the forecast period. 

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Major companies operating in the paint protection films market include 3M Company (US), XPEL, Inc. (US), Eastman Performance Films, LLC (US), and Hexis S.A. (France), among others. Moreover, these companies hold a potential market share.

Xpel, Inc. (US) is one of the leading players in the paint protection films market, which has been adopting inorganic strategies to sustain in their market position. For instance, in November 2018, XPEL, Inc. acquired Apogee Corporation, a Taiwan-based distributor of automotive paint protection and window film. Through this acquisition, XPEL was able to sell directly to its customers in Taiwan, Hong Kong, and Macau and provide enhanced local support for all customers throughout Asia. Moreover, in April 2017, XPEL, Inc. acquired Stratashield LLC, a provider of installation services for automotive paint protection and window film in Dallas, TX. This acquisition helped XPEL in extending its reach in the growing local market by promoting the execution of customer-centric strategy.

Eastman Chemical Company (US) is another major company in the paint protection films market. It has been adopting organic and inorganic strategies to sustain its position in the paint protection films market. For instance, in March 2019, Eastman Chemical Company, through its subsidiary Eastman Performance Films, LLC invested in a leading-edge 3D scanning technology for patterns of paint protection films. This investment is intended to transform the process of pattern development of films with increasing level of accuracy and speed. Moreover, in March 2019, Eastman Performance Films, LLC introduced a new high impact resistant film, which is added to its paint protection film portfolio under the LLumar® and SunTek® brands. This new offering is approximately 50% thicker and provides stronger protection for heavy impact areas as compared with LLumar and SunTek standard PPF. This product will cater to the US and Canadian markets by late spring 2019.s

The paint protection films market size is estimated to be USD 242 million in 2019 and is projected to reach USD 341 million by 2024, at a CAGR of 7.1% from 2019 to 2024. Increasing consumption of thermoplastic consumption, coupled with rising sales of luxury cars, is expected to drive the growth of paint protection films market during the forecast period. Moreover, China being one of the largest producer & consumer of thermoplastic polyurethane material, creates a scope for sustainable growth of paint protection films.

Based on material, the market has been classified into thermoplastic polyurethane, polyvinyl chloride, and others. In terms of value, thermoplastic polyurethane accounted for the largest share of the paint protection films market. This growth is on account of its self-healing properties and increasing consumer spending for the protection of painted surfaces of vehicles.

Based on the end-use industry, the paint protection films market has been classified into automotive, electronics, construction, and others. In terms of value, the automotive sector accounted for the largest share in 2018 and is expected to grow briskly during the forecast period. This growth can be attributed towards cautiousness for maintenance of showroom finish of the vehicles, increasing resale value, and low effect of automotive industry slowdown to luxury cars sales throughout the globe.

Based on geography, the paint protection films market is segregated into five regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. In terms of value, Asia Pacific accounted for the largest share in the paint protection films market in 2018. This growth is attributed towards increasing sales of luxury cars in the Asia Pacific region coupled with China being the major producer and consumer of thermoplastic polyurethane material which is the major base material for manufacturing paint protection films. 

Lubricants Market Industry Leaders & New Revenue Pockets by 2025

The global lubricants market size is projected to reach USD 182.6 billion by 2025 from USD 157.6 billion in 2020, growing at a CAGR of 3.0%, in terms of value during the forecast period. The anticipated growth in emerging economies post COVID-19 are expected to help the lubricant demand growth. The demand for lubricants in countries such as China, India, Japan, Russia, ASEAN, and South Korea from both the transport and the industrial sector is expected to fuel the growth of lubricants market in the region.

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The lubricants market is evolving, with major players playing a crucial role in the development of new and advanced products. Royal Dutch Shell plc (Netherlands), ExxonMobil Corporation (U.S.), BP P.L.C. (U.K.), and Total S.A. (France) are the major players in this market.

Royal Dutch Shell PLC (Netherlands) is focused on expansions, new product launches, and agreements to meet the growing demand in the lubricants market. In May  2019, the company opened its first lubricant laboratory in India. The laboratory will serve as a service provider for the increasing demand for innovative lubricant products both in automotive and industrial segments. In May 2019, the company launched e-fluids for electric vehicles. The products include e-transmission fluids, e-thermal fluids, and e-greases, which will help improve the performance of EVs and other battery-operated vehicles. In May 2018, Shell Lubricants and Aggreko renewed their supply contract, which helped Shell become the largest lubricant supplier to Aggreko in Russia, APAC, and Americas. The expansion helped the company to meet the growing demand for lubricants.

ExxonMobil (US) is focused on new product launches and expansions to meet the growing demand for lubricants. In June 2019, the company completed the expansion plans of its Singapore refinery. The facility will strengthen the supply for group II EHC base oil, which is used for manufacturing premium grade lubricants. In January 2019, the company launched and commercialized EHC50 and EHC120 grade products from its Rotterdam Refinery. This will help the company to improve its market position in the group II oil-based lubricant market, as the company manufactures base oil as well as finished products. In December 2018, the company completed the expansion of its Rotterdam refinery, which saw an increase in the production of Group II base oil for lubricants. This has helped the company to become the world’s largest producer of group I and group II base oils. ExxonMobil is also focusing on renewable power generation to expand its lubricant offerings.

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BP PLC (UK) focuses on expansions and new product launches to strengthen its market position in the lubricants market. In December 2019, the company introduced its Castrol Edge Bio-synthetic into China. This is a synthetic base engine oil containing 25% plant-based base oil. This will help BP to strengthen its market position in the premium synthetic lubricants market in Asia Pacific. In January 2018, the company launched a new product called Castrol GTX ECO, which is manufactured from 50% re-refined base oil. This has helped the company to fulfill its sustainable development targets as well as diversified its portfolio.  In December 2017, BP planned the largest new lubricant plant in China. It was BP’s third lubricant blending plant in China and, with an investment of around RMB1.5 billion (USD 230 million), representing BP’s single largest blending plant investment worldwide. The expansion helped the company to expand its product offerings.

Total S.A.(France) focuses on new product launch and expansions to strengthen its market position in the global lubricants market. In January 2019, the company launched a new PFPE-based PTFE Grease STATERMIC X400 for all textile applications, where the conventional mineral or synthetic greases are not satisfactory. In October 2018, the company inaugurated its new state-of-the-art lubricant oil blending plant, located in the Kaluga region of the Russian Federation. The plant has been designed to produce initially 40,000 tons of lubricants per year, with a scale-up option to bring this capacity up to 70,000 tons per year. With the launch of this plant, the company plans to become one of the top leaders in the segment of premium automotive and industrial  lubricants in the Russian market and a significant player among competitors established locally. This will help the company in diversifying its product portfolio. 

The global lubricants market size is projected to reach USD 182.6 billion by 2025 from USD 157.6 billion in 2020, at a CAGR of 3.0% between 2020 and 2025. Lubricants are defined as various compounds like fluids, oils, and greases. Lubrication is an essential process for numerous industries as it helps to reduce the friction between moving parts or surfaces to enhance the efficiency of machines. 

Lubricants are manufactured using base oil, which is categorized as mineral oil, synthetic oil, and bio-based oil. Mineral oil and synthetic oil are sourced from petroleum crude, whereas bio-based oils are sourced from vegetable oil. The primary factor that is driving the global lubricants market is massive industrialization in the developing parts of the world, the increasing disposable income, and rapid urbanization in emerging countries.

Based on base oil, the market is segmented into mineral oil, synthetic oil, and bio-based oil. Synthetic oils are expected to witness the highest growth between 2020 and 2025. Synthetic-oil based lubricants can be customized according to the requirement so that it can have a controlled molecular structure with predictable properties. Furthermore, they have superior properties than mineral oil-based lubricants.

Based on product type, the lubricants market is segmented into engine oil, hydraulic fluid, metalworking fluid, gear oil, compressor oil, grease, turbine oil, and others. Metalworking fluid is expected to be the fastest-growing segment in terms of both volume and value, from 2020 to 2025. These fluids are crucial to the iron and steel industry, along with various metal-bound industries. These fluids help in the reduction of heat, provide lubrication, and remove small metal chips during cutting and grinding of metal pieces. The growing number of end-use industries of metalworking fluid is expected to drive its demand in the coming years, which is consequently expected to fuel the growth of the lubricant market.

Based on the application, the lubricants market is segmented into transportation and industrial lubricants. Industrial lubricant is expected to be the fastest-growing segment from 2020 to 2025. The industrial lubricant market will be driven by the growth of the construction, mining, manufacturing, and power generation sectors. Power generation is one of the major consumers of lubricants and is also expected to grow at the highest rate during the forecast period. The commercial vehicle segment is expected to drive the transportation segment in the lubricant market.

APAC is estimated to be the largest market for lubricants during the forecast period, in terms of value and volume. Improved lifestyle due to increasing income, growing population, and growth of the industrial sector in China, India, and ASEAN is projected to propel the growth of the lubricants industry in the region. The presence of major manufacturers, such as Petrochina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), Sinopec Limited  (China), and JXTG Group (Japan), is expected to further fuel the lubricants market growth in APAC.

Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), BP PLC (U.K.), Chevron Corporation (U.S.), Total S.A. (France), Petrochina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), Sinopec Limited  (China), Fuchs Petrolub AG (Germany), Valvoline (U.S.), Lukoil (Russia), Petronas (Malaysia) and Gazprom Neft (Russia) are the leading players in the  lubricants market. These players have a strong foothold in the global lubricants market as well as a strong distribution network across the globe.