Chemical Industry Data

  Solid Oxide Fuel Cell Industry Overview The global solid oxide fuel cell market size was valued at USD 339.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 40.7% from 2022 to 2030. The increasing private-public partnerships are one of the key factors fostering the market growth. Solid oxide fuel cells (SOFC) are one of the fastest-growing alternate backup power options, primarily due to their ability to generate electricity using a variety of fuels. In addition, they are eco-friendly as their by-product is harmless, unlike other conventional technologies. The U.S. is among the early adopters of clean energy solutions for the sectors such as power generation and transportation. This can be attributed to the increased importance of clean energy solutions as per the energy act, introduced by the U.S. government. Such acts have provided a starting guideline regarding implementing clean energy solutions in the country’s energy sector. Favorable ...

  Biomass Power Industry Overview The global biomass power market size was valued at USD 121,340.76 million in 2021 and is projected to exhibit a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. The market has been witnessed growth with the rise in environmental concerns, which has forced various countries to increase the share of renewable energy in their power mix. Countries, such as India, China, Germany, the U.K., and France, have announced renewable energy targets and are aiming at becoming carbon-neutral nations in the future. Moreover, rising adoption owing to favorable policies and regulations drives the market. Furthermore, the European Union countries are looking for a coal phase-out, which is expected to boost the demand for biomass power. In addition, in countries, such as India, the U.S., and China, co-firing of coal-based power plants is done with biomass feedstock to limit carbon emissions from the plants. These factors will boost the growth ...

  Noble Gas Industry Overview The global noble gas market size was valued at USD 2.47 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. Increasing application areas for noble gases in the healthcare and industrial sectors and supportive government policies are expected to boost the market growth. The helium gas segment is projected to lead the market during the forecast period owing to increasing demand for it from various end-use industries such as manufacturing, aerospace, and healthcare, as well as the growing application scope of helium gas in cryogenics and analytical applications. The surging demand for noble gases from the manufacturing and electronics industries is anticipated to contribute to the growth of the market over the forecast period. The U.S. emerged as the largest noble gas market in North America in 2021. The U.S. is the most significant market for noble gas in North America owing to the bulk producti...

  Liquefied Natural Gas Industry Overview The global liquefied natural gas market size was valued at USD 109.48 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2030. The growing demand for electric power through clean energy sources is likely to propel market growth over the coming years. A growing focus on projects related to distributed power & utility is anticipated to bolster the market growth over the next eight years. The projected growth in natural gas in the power generation business is also likely to create more demand for liquefied natural gas (LNG) across various countries. Coal is the major source of generating electricity worldwide; however, considering the degradation of coal reserves and its adverse environmental impact, there has been a rise in the use of natural gas and other renewable sources of energy for the production of electricity. The country has a diverse energy mix, wherein natural gas accounts f...

  Eubiotics Industry Overview The global eubiotics market size was valued at USD 4.6 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2030. The demand for the product is anticipated to be driven by favorable regulatory scenarios banning the usage of antibiotics and growing meat consumption across the globe. The market experiences high competition with well-established and long-term operating players enjoying major market share. Companies are heavily investing in R&D activities to develop sustainable technologies for manufacturing cost-effective and affordable products. The lack of an adequate number of players in several countries specifically in the Middle East opens ample opportunities for new players to enter and gain a strong foothold in the market. Eubiotics are manufactured and are distributed either through feed mills, pre-mixers, or specific distributors. The companies involved in manufacturing eubioti...

  Disposable Gloves Industry Overview The global disposable gloves market size was estimated at USD 12,306.0 million in 2022 and is projected to grow at a compounded annual growth rate (CAGR) of 3.9% from 2023 to 2030. The growing demand for disposable gloves, especially from the healthcare industry amidst the ongoing COVID-19 pandemic, along with rising awareness about healthcare-associated infections, is expected to drive the market growth. The healthcare sector in major developing economies is anticipated to witness substantial growth on account of several factors, such as increasing investments in both private and public sectors along with rising population, the high influx of migrants, and the growing geriatric population. Furthermore, rising healthcare expenditure is projected to drive the growth of the healthcare sector, which, in turn, is estimated to augment the demand for disposable gloves. The presence of sophisticated healthcare infrastructure, higher disposable incom...

  Metal Magnesium Industry Overview The global metal magnesium market size was valued at USD 4.39 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030. The market growth is anticipated to be driven by the increasing product demand from die casting and aluminum alloy applications in various end-use industries. Magnesium is ideal for these applications due to its good electromagnetic screening property and heat conductivity. It also adds strength to aluminum, which is widely used for these applications. Furthermore, the rising demand for lightweight components, mainly in the automotive and aerospace sectors, is anticipated to augment the market growth over the forecast period. The U.S. is one of the dominant aerospace manufacturers with established players, such as Boeing, Lockheed Martin, and United Technologies. As per the Bureau of Transportation Statistics, the U.S. recorded 1,551 aircraft deliveries in 2020 compared to 1,771...

  Antimicrobial Coatings Industry Overview The global antimicrobial coatings market size was valued at USD 9.0 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 13.8% from 2022 to 2030. Growing concern regarding cleanliness in various professional industries has led to the rapid development of this industry. These are used to protect surfaces against micro-organisms, which primarily include parasites, germs, bacteria, and unwanted micro-organisms. Amid the global COVID-19 pandemic, the demand for various pharmaceutical products, disinfectants, and sanitizers has increased. This, in turn, is driving the demand for antimicrobial coatings in medical devices application. However, the segment is expected to grow at a higher rate than the sanitary facilities and kitchen and air conditioning and ventilation systems application segment. Rising concerns regarding Hospital-acquired Infections(HAIs) are also boosting the overall industry growth. Doctors pref...

  Plastic Resins Industry Overview The global plastic resins market size was estimated at USD 731.25 billion in 2021, projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030. Rising product demand from the construction, automotive, and electrical & electronics sectors is the key factor driving the market growth. The rapidly developing global automotive industry is expected to trigger the product demand in applications such as under-the-hood components, exteriors, and interiors of automobiles. The increasing application of resins in the automotive industry is spurred by the demand for lightweight and inexpensive multi-utility vehicle models with high fuel efficiency and an emphasis on aesthetics and comfort. The product consumption is also expected to increase in the healthcare sector owing to the growing production of Personal Protective Equipment (PPE), such as face masks, face shields, medical gowns, and various medical devices, du...

  Industrial & Institutional Cleaning Chemicals Industry Overview The global industrial & institutional cleaning chemicals market size was valued at USD 66.5 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. Growing utilization of industrial & institutional cleaning chemicals in the healthcare and cleaning chemicals industries is driving the market growth. The recent occurrence of the pandemic has raised safety and hygiene concerns, which have led to an increase in the consumption of cleaning chemicals across the globe and furthered the growth of the global industrial & institutional cleaning chemicals market. Additionally, the manufacturers are venturing into the production of sustainable and environment-friendly cleaning solutions. This is a step toward sustainable development of the industry. This segment has a lot of untapped potential as people are choosing environmentally friendly products to redu...

  White Oil Industry Overview The global white oil market size was valued at USD 2.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030. The demand for the product is anticipated to be driven by the increased demand for the product in the personal care and pharmaceutical industries. Globally, rising product demand from medicinal and cosmetics applications is expected to be a major driver in the market. White oils are mineral oils that have been purified to be pure, stable, colorless, odorless, and non-toxic. The product is a highly refined and colorless mineral oil made from the paraffinic crude feedstock. It has a variety of performance characteristics, including good hydrophobicity, low odor and taste, and bio-stability, making it suitable for a wide range of applications. The product also has a low aromatic and Sulphur content, making it ideal for blending with other oils to improve end-product finishing. The m...

  Bauxite Industry Overview The global bauxite market size was valued at USD 15.59 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 1.7% from 2022 to 2030. The favorable government policies for electric vehicles (EV) and rising investment in the production of lightweight vehicles are anticipated to propel the demand for aluminum. This trend is likely to prove fruitful for the growth of the bauxite industry in the forecast period. For instance, in February 2022, Volvo Cars decided to invest in aluminum mega casting in its Torslanda manufacturing plant, Sweden. The investment is worth USD 1.1 billion and the mega casting makes the production process less complex and it reduces the overall environmental footprint. The U.S. holds the largest share of the North American bauxite market. The growth in aluminum and cement production is expected to benefit market growth. According to the Aluminum Association, in the U.S., the amount of aluminu...

  Disposable Medical Gloves Industry Overview The global disposable medical gloves market size was estimated at USD 9.85 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030. The growing demand for safety and security at healthcare workplaces, rising healthcare expenditure, and the resurgence of the COVID-19 pandemic, are expected to have a positive impact on industry growth. The resurgence of the COVID-19 pandemic in countries, such as China, Germany, France, Italy, and Belgium, is expected to increase testing, surveillance, and hospital visits, which will boost the product demand. Furthermore, the pandemic had boosted the demand for disposable medical gloves and strained the supply chain, which prompted manufacturers to boost their production capacities to meet the growing demand. The market in the U.S. is undergoing a transition owing to the COVID-19 pandemic. The rising prevalence of chronic diseases has increased the nu...

  Chromatography Resin Industry Overview The global chromatography resin market size was valued at USD 1.90 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030. The growth in this market is attributable to the rising demand for the chromatography technique from pharmaceutical, chemical, food & beverage, and other industries. High R&D investments in the industry have propelled the development of several products, resulting in the improved productivity as compared to conventional products. Chromatography resin is one of the notable examples of the evolving industry dynamics. It has gained a considerable market share in recent years across several end-use industries owing to its high accuracy and ease of use. The U.S. is expected to remain a major consumer in the industry as most of the pharmaceutical companies are based in the U.S. This region has seen strong growth due to focused government spending on research and d...