Chemical Industry Data

  Seasoning & Spices Industry Overview The global seasoning & spices market size was valued at USD 35.38 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. The growing awareness of the medicinal benefits of spices & herbs along with the rising number of people cooking at home has been attributed as the major factor driving the growth of this market. Furthermore, the increasing willingness of buyers to pay a premium price for new and ethnic flavors has been fueling the market. Local cuisines have been gaining international recognition, owing to their flavors of cuisines, which are also driving the growth. The COVID-19 pandemic had a significant effect on the supply chain of the seasoning & spices market. The government restrictions, transportation challenges, labor shortages, supply scarcities, infrastructural interruptions, and import delays have disrupted the supply chain of the industry. The production of...

  Precision Gearbox Industry Overview The global precision gearbox market size was estimated at USD 2.5 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 9.6% from 2022 to 2030. Rising awareness about the product benefits across various industries including, military & aerospace, machine tools, material handling, robotics, and medical, is expected to drive the market growth. The market witnessed a steep decline in growth, owing to the lack of demand from the industrial sector. The government imposed restrictions caused a temporary closure across a wide range of industries, which resulted in a lack of new installations and maintenance and repair of existing automation systems, thereby limiting the product demand. In addition, a large number of manufacturers suffered huge financial losses due to the pandemic, leading to a number of manufacturers opting to postpone the installation of new automation systems. However, the industry witness...

Pigment Dispersion Industry Overview The global pigment dispersion market size was valued at USD 23.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. The steady growth in the packaging industry, in terms of both food and non-food packaging and printing of labels, is expected to drive the demand for pigment dispersions during the forecast period. Polyethylene terephthalate (PET), polypropylene (PP), and polystyrene (PS) are the most preferred polymers in the single-service food packaging segment. Factors such as the increasing use of plastic and paper & paperboard materials and the use of various colorants to make attractive packaging are expected to drive the overall pigments demand. Organic pigments are an alternative to some of the toxic inorganic pigments. However, organic pigments are more expensive and some pigments that exhibit superior properties are limited. Manufacturers are investing in research ...

  Composite Adhesive Industry Overview The global composite adhesive market size was valued at USD 3.35 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The penetration of lightweight composites in different industries like aerospace & defense, electric vehicles (EVs), sports, and others is expected to propel the demand for the product during the forecast period. Owing to the surge in the demand for EVs, key automotive players are investing to set up new manufacturing plants across the world. For instance, in January 2022, an announcement regarding the construction of a new EV plant in Hubei Province, China by Dongfeng Honda Automobile Co Ltd was made. The production is anticipated to start in 2024 and its annual production capacity is expected to be 120,000 units. The U.S. was the largest market for composite adhesives in North America in 2021 and this trend is anticipated to continue during the forecast pe...

  LPG Tanker Industry Overview The global LPG tanker market size was valued at USD 182.02 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030. Strong growth in shale gas production is likely to propel the market growth over the coming years. Crude oil price volatility coupled with developments in hydraulic fracturing and horizontal drilling methods resulted in major companies shifting their attention towards the production of oil and gas from shale rock. Change in focus toward the production of shale gas is further projected to enhance market growth over the estimated period. The growing trade relationships between the U.S. and the APAC region for shale gas owing to the reduced cost of transportation is likely to outgrow the demand for liquified petroleum gas (LPG) tankers over the forecast period. Instability in crude oil prices caused an increasing demand for liquefied petroleum gas from petro...

  Gas Turbine Industry Overview The global gas turbine market size was valued at USD 22.17 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. A gas turbine is an engine, which heats a mixture of fuel and outside air at a very high temperature to generate mechanical energy through the spinning of the turbine blades. The mechanical energy further drives a generator, which produces electrical energy. Rapid technological advancements in the energy industry, combined with a shift in focus toward distributed power production technologies, are propelling the worldwide market forward. This market is predicted to expand rapidly during the forecast period, owing to increased government backing for power production technologies that minimize carbon dioxide (CO2) emissions around the world. Gas turbines are primarily used for power generation. Operating a simple cycle turbine power plant for supplying electricity to the industry...

  Specialty Carbon Black Industry Overview The global specialty carbon black market size was valued at USD 2.29 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 10.0% in terms of revenue from 2022 to 2030. This is attributed to the increasing demand for the product as reinforcing agents, specifically in tires. Additionally, the growing use of the product in agriculture mulch film, refuse sacks, stretch wrap, and industrial bags are estimated to contribute to the market growth. Specialty grades such as conductive, fiber, and food cater to end-use industries, such as battery electrodes, conductive polymers, PP masterbatches, paints & coatings, specialty packaging, consumer molded parts, printing inks, polyester fiber, and film & sheets. They have excellent conductivity characteristics, are UV-protective, contain metals, and are low in sulfur and ash. Additionally, specialty carbon blacks are used in a variety of coating applications, inc...

  Leather Chemicals Industry Overview The global leather chemicals market size was valued at USD 7.4 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. The demand for the product is anticipated to be driven by increased demand for premium products. Increasing disposable income along with the rising population in developing economies is expected to boost demand for consumer products, driving the product industry. The fast-developing upholstery sector, which finds application in airplanes, furniture, and automobiles, has been a major driver of leather demand in the past and will continue to be in the future. It can be found in abundance in high-end furniture and automobiles. Upholstery is easy to maintain, long-lasting, and opulent. It is already available in small vehicle models from premium brands.  Another developing area for upholstery is airplane interiors in which high performance leather makes it a suitab...

  Optical Coating Industry Overview The global optical coating market size was valued at USD 17.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of more than 9.2% from 2022 to 2030. Recent technological advancements in the field of optical deposition techniques and fabrication coupled with rising demand for efficient optical devices in end-use applications are expected to drive the market over the forecast period. Optical coatings are being increasingly used in numerous applications including architecture, consumer electronics, solar panels, automotive, medical, telecommunication, and military and defense. The rapid growth of the solar PV market, driven by the increasing focus on the generation of clean energy, and rising demand for consumer electronics is expected to fuel the market growth over the forecast period. Reflective coatings are mainly used in construction, telecommunication, and space applications. The growing use of reflective ...

  Floating Solar Panels Industry Overview The global floating solar panels market size was valued at USD 30.16 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 22.5% from 2022 to 2030. Increasing focus on clean fuel power generation energy sources coupled with insufficiency of the land area will boost the global market during the projection period. Regulatory boards across the world are setting up several targets related to clean energy, which will help in controlling the pollution level. The technical aspect of floating solar technology is projected to observe substantial growth over the estimated period owing to the growing demand for dependable renewable sources of energy for power generation. The U.S. market is anticipated to witness substantial growth in the forecast period on account of strong federal schemes that include rising demand across the public and private sectors for green electricity, and solar investment tax credits. As per the ...