Investment in research and development is increasing due to the factors such as reducing waste, legislation and demand for higher quality of life from consumers end. The smart materials market is expected to grow in the coming years due to rise in demand of the smart materials from the construction industry.
The global fencing market is up surging at a significant rate, due to growing economies and middle class population, rising demand for security and safety, increasing consumer’s interest in home improvement and home décor, and expanding housing constructions or rebound in housing completions.
The global oleochemicals market is witnessing growth due to the favorable government regulations for environment friendly products, recyclability of oleochemicals, increasing demand for biodegradable and sustainable products, and growing end-user industries. High growth in the pharmaceutical, cosmetics and food industries are supporting the demand for these chemicals.
Easy availability of raw material, cheap labor and increase in demand from end-use industries is also projected to drive the growth of the industrial dryers market in these countries. The European market for industrial dryers is expected to witness steady growth, during the forecast period.
Long Fiber Thermoplastics (LFT) market is projected to rise at a faster rate during the forecast period due to the growing demand from end use applications such as automotive, electrical and electronics industry. The long fiber thermoplastics are known for their lightweight, high-performance and environment-friendly nature.
The textile chemicals are in huge demand owing to the enormous growing production of apparels and rising demand for home furnishings, floor coverings and smart textiles globally. With new and innovative textile and fabrics being developed and are becoming commercially available, the textile chemical manufacturers globally are manufacturing products for the future fabrics used specially for medical, construction, automotive and functional interior textiles.
Among all the regions, Asia-Pacific was the largest market for caprolactam followed by North America and Europe. The growing demand for nylon 6 fibers for making different types of clothing materials in Asia-Pacific countries such as China and India will boost the consumption of caprolactam in the region.
The threat of adoption of substitutes such as silica gel and supersand is offering stiff competition to the demand dynamics of activated carbons. Additional factors such as low availability of raw materials such as phenolic resins, coconut shell charcoal, and wood charcoal (thereby causing volatile price trends), and presence of expensive derivatives of these solids are expected to inhibit adoption of these solids, and thereby, constrain the market growth in the future.
The demand for rice husk ash is growing in the construction industry and infrastructure projects owing to its multiple benefits, such as comparatively low cost, environment sustainability, and simplicity in production process. For example, the limited supply of silica fumes has increased its price across South Asian countries.
Ceramic foam is a material with low thermal conductivity, enhanced filtration capabilities, and high temperature resistance; it is made up of different oxide and non-oxide ceramic varieties, such as aluminum oxide, titanium oxide, and silicon carbide. It is used in a wide range of applications, such as absorption of pollutants, filtration of molten alloys, and acoustic and thermal insulation.
Flexible substrate market is highly dependent the demand for these substrates for producing electronic products. Owing to the fast growing adoption rate of new and advanced electronic products, the flexible substrate market is also expected to witness significant boost in the North American region.