Month: September 2024

“Browse 262 market data Tables and 54 Figures spread through 227 Pages and in-depth TOC on “Microplastic Fillers Market”

The Microplastic Fillers market size is projected to grow from USD 3.2 billion in 2024 to USD 3.7 billion by 2029, registering a CAGR of 3.4% during the forecast period. The Microplastic Fillers market is experiencing robust growth due to several key factors and opportunities. One of the key drivers for these fillers is the rising demand for lightweight materials in industries like automotive, construction, and packaging. Using microplastic fillers in materials results in improved properties in terms of strength, durability, and thermal stability while providing reductions in weight, which maximizes fuel efficiency and minimizes transport costs. Furthermore, rising urbanization and infrastructural development have increased their use in construction materials. They provide advantages such as improved insulation, fire resistance, and other associated benefits that enhance the structural integrity of the material. 

These prominent competitors, along with a slew of others, define the Microplastic Fillers market through ongoing innovation, strategic collaborations, and worldwide growth strategies. Their contributions propel technological developments, broaden market reach, and shape industry standards, ultimately influencing the future of Microplastic Fillers and their numerous uses., such as BASF SE (Germany), Clariant (Switzerland), Thermo Fisher Scientific Inc. (Waltham), POLYFILL (Vietnam), Composition Materials Co. (Connecticut), Honeywell International Inc. (US), Schilling Ltd. (Spain), Kaimaoxing Cellulose (Shandong) Co., Ltd (China), Precision Drawell Pvt Ltd. (India), and Goonvean Fibres (England), adopt  investments and expansions  to increase their market shares and expand their geographic presence.

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BASF SE is a global leader in the chemical industry, headquartered in Ludwigshafen, Germany. Established in 1865, the company operates through six primary business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemical segment forms the backbone of BASF’s operations, producing basic chemicals and intermediates that are essential for various industries. It includes products such as petrochemicals, monomers, and intermediates used in the production of plastics, resins, solvents, and adhesives. In the realm of microplastic fillers, BASF SE offers various products and solutions designed to improve material properties and enhance performance. One such product is their range of rheology modifiers, which are crucial in controlling the flow and deformation behavior of materials. These modifiers find applications in numerous industries, including plastics, coatings, adhesives, and sealants. BASF SE’s expertise in this area helps manufacturers optimize the processing and performance of their materials, contributing to the development of high-quality, durable products. Furthermore, the company has a robust geographical presence, with operations in over 80 countries and more than 390 production sites globally to serve key markets efficiently.

Clariant is a manufacturer of specialised chemicals. The company provides flame retardants, polymer additives, antioxidants, antistatic agents, heat stabilisers, lubricants, release agents, slide control agents, hot melt adhesives, and light stabilisers. It also provides oil and mining services, catalyst solutions for industrial chemicals, plastics, and fuels, and functional minerals such detergent additives, foundry additives, kerosene and jet fuel purification, oil purification solutions, paper additives, and PVC stabilisers. The company’s products find uses in a variety of industries, including electrical and electronics, packaging, transportation, consumer goods, building and construction, textiles, and agricultural. The company operates in Europe, the Americas, Asia Pacific, Africa, and the Middle East. The company is headquartered in Muttenz, Switzerland. The company recorded revenues of USD 5.4 billion for the fiscal year ending December 2022, up 18.9% from 2021. The operating margin for FY2022 was 1.4%, compared to 10.1% in 2021. In FY2022, the company’s net margin was 1.6%, compared to 7.9% in 2021. The corporation divides its operations into four regions: Asia/Pacific, EMEA, Latin America, and North America. In FY2022, EMEA generated 40.8% of the company’s sales, followed by Asia/Pacific (29.1%), North America (17.9%), and Canada (12.1%).

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Thermo Fisher Scientific, Inc. offers analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. The corporation was formed on October 11, 1960, and is headquartered in Waltham, Massachusetts. It operates in four business segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. The Life Sciences Solutions division includes a spectrum of reagents, tools, and consumables used in biological and medical research, medication development and production, and illness diagnosis. The Laboratory items and Services division provides everything required for a laboratory, including a mix of self-manufactured and sourced items for customers in research, academic, government, industrial, and healthcare environments. Thermo Fisher Scientific, Inc. operates in three major regions: the United States, China, and other international markets. In  2022, the company generated a large percentage of its revenue from these regions, with the United States accounting for 53% of total sales. China accounted for 8.4% of sales, with the remaining 38.5% coming from other overseas markets.

Composition Materials Co., Inc., founded in 1923, is headquartered in Milford, Connecticut. The company is a global manufacturer and supplier of eco-friendly abrasives, fillers, extenders, blast media, and deflashing media. Since 2014, the company has used solar electricity for its headquarters and manufacturing facilities, emphasizing sustainability and innovation in its product offerings. Composition Materials Co. supports a diverse range of industries, including aerospace, automotive, aviation, cosmetics, electronics, government, medical, military, paint & coatings, plastics, rubber, and transportation. Their product line includes Walnut Shell Media, recyclable Plastic Blast Media, Corn Cob, Apricot Shell Grit, Almond Shell, Bio-Based Fillers, Cryogenic Deflashing Media, Aluminium Oxide, and Tagua, with many of them made from sustainably sourced and recycled raw materials. The company’s products are utilised for a variety of industrial applications, including paint and coating removal, blast cleaning, media blasting, deflashing, and deburring. They also make all-natural exfoliants for the cosmetics sector. Composition Materials Co. has than a century of experience and provides full customer service and technical skills, including product selection, packing, shipping, and global logistics. Their bio-based fillers are notable for being all-natural, biodegradable, and derived from sustainably sourced materials, catering to industries seeking environmentally responsible products.

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Honeywell International Inc. is a leading global industrial conglomerate incorporated in 1906 and headquartered in North Carolina, USA. The company’s diverse business segments – Aerospace Technologies, Building Automation, Energy and Sustainability Solutions, and Industrial Automation – are all aligned with three powerful megatrends: automation, the future of aviation, and energy transition. Honeywell’s Building Automation segment helps customers convert their buildings into integrated, safe, and more sustainable assets through its comprehensive solutions, including hardware, software, sensors, and analytics, which are used in over 10 million buildings worldwide across sectors like healthcare, aviation, education, and data centers. Honeywell manufactures microplastic filler under advanced materials segment which plays a crucial role in advancing industries worldwide through diverse applications, revolutionary inventions, and pioneering technologies. This business unit focuses on providing high-performance materials, process technologies, and automation solutions to a wide range of industries.  Honeywell has a significant global presence, operating in over 80 countries around the world. The company has manufacturing and other facilities across North America, Europe, Asia, Middle East, Africa, and Latin America.

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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“Browse 323 market data Tables and 53 Figures spread through 302 Pages and in-depth TOC on “Biocides Market”

In terms of value, the biocides market is estimated to grow from USD 9.7 billion in 2024 to USD 12.3 billion by 2029, at a CAGR of 4.9%. Rising demand for biocides from industries such as water treatment, industrial & institutional cleaning and home care, paints & coatings, wood preservatives, and other biocides type for a variety of applications is leading the market. During the forecast period, this is anticipated to expand the biocides market even more.

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The key players in this market are LANXESS AG (Germany), Veolia Group (France), Arxada AG (Switzerland), Ecolab Inc. (US), and Nouryon (Netherlands), among others. Players in the biocides market are adopting both organic and inorganic growth strategies to grow their regional and global presence within the market. These major players are continuously developing new products to serve to their customer requirements. They are also violently acquiring other small companies to increase their market share within the global biocides market. In response to the growing demand for biocides in various applications, market participants are primarily emphasizing research and development efforts.

LANXESS AG

LANXESS AG is a German specialty chemicals company that operates globally. In the context of the biocides market, LANXESS is a significant player, offering a range of products for various applications. Their biocides portfolio includes solutions for material protection, water treatment, and disinfection. The company’s products are used in industries such as paints and coatings, construction, and personal care. The company focuses on developing sustainable and environmentally friendly biocidal solutions to meet increasing regulatory demands and consumer preferences for safer products.

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Nouryon

Nouryon, formerly AkzoNobel Specialty Chemicals, is a global specialty chemicals company headquartered in the Netherlands. In the biocides market, Nouryon is a significant player, offering a range of products for various applications. Their biocides portfolio includes solutions for water treatment, paints and coatings, personal care, and industrial preservation. Nouryon’s biocides help prevent microbial growth, extending product shelf life and improving performance. The company focuses on developing sustainable and environmentally friendly biocide solutions to meet increasing regulatory demands and consumer preferences. Nouryon’s strong research and development capabilities, along with its global presence, position it well in the competitive biocides market, where it faces competition from other major chemical companies.

Non-oxidizing biocides segment is estimated to be the fastest-growing type for biocides market during the forecast period 2024 to 2029

Non-oxidizing biocides are expected to be the fastest-growing segment in the biocides market from 2024 to 2029 because they offer specialized, targeted solutions for microbial control without the corrosive effects associated with oxidizing biocides. These biocides are particularly valued in industries like oil and gas, paper manufacturing, and water treatment, where maintaining the integrity of equipment and materials is crucial. They work by interfering with microbial metabolic processes, making them highly effective against specific organisms. As industries become more aware of the long-term benefits of preserving equipment and preventing biofilm formation, the demand for non-oxidizing biocides increases. Moreover, the growing focus on more environmentally friendly and less hazardous biocidal solutions aligns with the advantages of non-oxidizing biocides, driving their rapid market growth.

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Middle East & Africa is the fastest growing region for the biocides market during the forecast period 2024 to 2029

Due to its increasing industrialization, urbanization, and infrastructure development, the Middle East and Africa will have the quickest rate of growth in the biocides market between 2024 and 2029. These regions are experiencing significant growth in construction, water treatment, and oil and gas industries, all of which rely heavily on biocides for maintenance and protection. In water-scarce areas, ensuring clean and safe water is a priority, boosting the demand for biocides in water treatment applications. Additionally, as the region becomes more industrialized, there’s an increased need for biocides in products like paints, coatings, and household cleaning solutions to ensure hygiene and durability. The growing awareness of health and safety standards, coupled with the expansion of the hospitality and healthcare sectors, also fuels the demand for biocides. This combination of factors makes the Middle East & Africa a rapidly expanding market for biocides.

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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“Browse 204 market data Tables and 58 Figures spread through 240 Pages and in-depth TOC on “Door Insulation Market”

The door insulation market is projected to reach USD 1.7 billion by 2029, at a CAGR of 5.2% from USD 1.3 billion in 2024. The growth of the door insulation market is fueled by several key factors. Firstly, the increasing focus on energy efficiency in both residential and commercial buildings is a major driver. Door insulation significantly reduces energy consumption by minimizing heat loss and gain, leading to lower heating and cooling costs. With rising energy prices and stricter energy regulations, the demand for effective insulation solutions has surged. The heightened environmental awareness and the push for sustainable building practices are boosting the market. Insulated doors help reduce carbon footprints by enhancing overall building energy efficiency, aligning with global efforts to combat climate change and promote eco-friendly construction practices. The advancements in insulation materials and technology are driving market growth. Innovations such as high-performance foams, weatherstripping, and thermal breaks improve the effectiveness and durability of door insulation, making insulated doors more attractive to consumers and builders. Additionally, increasing construction activities, especially in emerging economies, are driving demand. Rapid urbanization and infrastructure development require energy-efficient buildings, thereby boosting the door insulation market. Furthermore, the growing trend of smart homes and buildings is contributing to market expansion. Insulated doors are crucial for smart building designs, enhancing energy management systems and overall comfort. These factors collectively underscore the strong growth trajectory of the door insulation market.

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The key players in this market are BASF SE (Germany), DuPont (US), Soudal Holding N.V. (Belgium), Covestro AG (Germany), Owens Corning (US), ROCKWOOL A/S (Denmark), Knauf Insulation (US), Johns Manville (US), Synthos (Poland), Saint-Gobain (France), Kingspan Group (Ireland) etc. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions and acquisitions. 

The key players in this market are BASF SE (Germany), DuPont (US), Soudal Holding N.V. (Belgium), Covestro AG (Germany), Owens Corning (US), ROCKWOOL A/S (Denmark), Knauf Insulation (US), Johns Manville (US), Synthos (Poland), Saint-Gobain (France), Kingspan Group (Ireland) etc. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions and acquisitions.

BASF SE

BASF SE is a global leader in the chemical industry, headquartered in Ludwigshafen, Germany. Established in 1865, the company operates through six primary business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemical segment forms the backbone of BASF’s operations, producing basic chemicals and intermediates that are essential for various industries. It includes products such as petrochemicals, monomers, and intermediates used in the production of plastics, resins, solvents, and adhesives. The Material segment focuses on advanced materials and their applications. It includes Performance Materials and Monomers divisions. Performance Materials provides solutions like engineering plastics and polyurethane systems, which are crucial for the automotive, construction, and consumer industries. The Industrial Solutions segment offers innovative solutions for various industries through its Dispersions & Pigments and Performance Chemicals divisions. Products include resins, additives, electronic materials, and specialty chemicals that enhance the performance and durability of industrial products, such as coatings, paints, and construction materials. Surface Technologies encompasses BASF’s catalytic and coating solutions, focusing on surface treatment and protection. The Nutrition & Care segment serves the health and personal care industries, offering a wide range of products through its Care Chemicals and Nutrition & Health divisions. Products include vitamins, food additives, pharmaceutical ingredients, personal care ingredients, and home care products. Agricultural Solutions provides products and technologies for the agriculture industry, aimed at enhancing crop yield and quality. BASF SE provides door insulation materials primarily through its Materials segment, which includes the Performance Materials division. This division offers innovative solutions for thermal insulation, leveraging advanced materials such as polyurethane foam, which is widely used for door insulation to enhance energy efficiency and reduce noise.

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BASF SE has a robust geographical presence, with operations in over 80 countries and more than 390 production sites globally. The company’s significant manufacturing facilities are strategically located to serve key markets efficiently. In Europe, BASF’s major manufacturing sites are situated in Germany, Belgium, and Spain. In North America, the company has substantial production facilities in the United States and Canada. BASF also has a strong presence in the Asia-Pacific region, with major sites in China, Japan, and South Korea. In South America, the company operates significant manufacturing facilities in Brazil and Argentina.

DuPont

DuPont, formally known as E.I. du Pont de Nemours and Company, is a globally diversified chemical and industrial company with a rich history dating back to 1802. Headquartered in Wilmington, Delaware, DuPont operates through three primary business segments: Electronics & Industrial, Water & Protection, and Mobility & Materials. The Electronics & Industrial segment focuses on materials and technologies for semiconductor fabrication, circuit board production, and advanced printing. Water & Protection provides solutions for water filtration, safety and protection, and sustainable building. This segment includes well-known brands like Kevlar and Tyvek. The Mobility & Materials segment caters to the automotive, aerospace, and consumer electronics markets, offering products such as engineering polymers, advanced composites, and adhesives. Geographically. The Water & Protection segment is responsible for providing door insulation solutions, leveraging DuPont’s expertise in creating energy-efficient and sustainable building materials. This segment’s focus on innovative protection and safety materials makes it a leader in supplying high-performance insulation products for various applications, including residential and commercial doors.

DuPont has a strong presence in North America, Europe, Asia Pacific, South America, and the Middle East & Africa, with manufacturing, research, and sales operations across these regions.

Covestro AG

Covestro AG is a leading global manufacturer of high-tech polymer materials, known for its innovative and sustainable solutions. Headquartered in Leverkusen, Germany, Covestro was established as a separate entity in 2015, following its spin-off from Bayer AG. The Performance Materials segment operates as an independent business unit focusing on the development, production, and supply of high-performance materials like polyurethanes and polycarbonates, along with base chemicals. This includes products such as diphenylmethane diisocyanate (MDI), toluene diisocyanate (TDI), long-chain polyols, and polycarbonate resins. On the other hand, the Solutions & Specialties segment encompasses Covestro’s specialized solutions business, comprising six entities: Engineering Plastics, Coatings & Adhesives, Tailored Urethanes, Thermoplastic Polyurethanes, Specialty Films, and Elastomers.

Covestro has a significant global footprint, operating production sites, R&D facilities, and sales offices in over 30 countries. The company has major production facilities in Europe, Asia Pacific, and North America, ensuring robust supply chain capabilities and local support for its customers. Key locations include sites in Germany, China, the US, and Thailand. This widespread presence enables Covestro to serve a diverse and global customer base effectively, adapting to regional market needs and regulatory environments.

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Owens Corning

Founded in 1938, Owens Corning is headquartered in Toledo, Ohio. Owens Corning specializes in the development, manufacturing, and marketing of insulation, roofing, and fiberglass composites. The company operates through three primary segments: Composites, Insulation, and Roofing. The Composites segment focuses on manufacturing, fabricating, and selling glass reinforcements in the form of fiber, and includes vertically integrated downstream activities. The Insulation segment offers products designed to help customers conserve energy, enhance acoustical performance, and provide ease of installation and use. The Roofing segment provides laminate and strip asphalt roofing shingles, as well as other products such as oxidized asphalt and roofing accessories. Owens Corning operates on a global scale while maintaining a personal touch, employing approximately 19,000 people across 31 countries.

The company has established its presence across various regions, including North America, South America, the Asia-Pacific, and Europe. In 2018, Owens Corning successfully finalized the acquisition of Paroc Group, a prominent European manufacturer specializing in mineral wool insulation. Renowned for its high-quality mineral wool products, Paroc Group is a key player in the European market, particularly in the production of insulation solutions for both building and technical applications.

ROCKWOOL  A/S

ROCKWOOL stands at the forefront of stone wool insulation manufacturing worldwide, offering an extensive array of high-performance and eco-friendly insulation solutions tailored for the construction sector. Leveraging cutting-edge stone wool technology, they have solidified their position as the premier manufacturer in this field. Operating primarily through two segments, namely Insulation and Systems, the company delivers a comprehensive range of insulation products and integrated systems to meet diverse construction needs. Within the Insulation segment, ROCKWOOL provides solutions spanning interior building, façade, roof, industrial, and technical insulation applications. In addition, ROCKWOOL’s Systems segment encompasses a versatile portfolio of products, including acoustic ceilings, cladding boards, engineered fibers, and solutions for noise and vibration control.

Moreover, they excel in providing horticultural substrates tailored for agricultural and horticultural applications, further expanding their scope of offerings. Established in 1909 and headquartered in Hedehusene, Denmark, ROCKWOOL has cultivated a rich legacy of innovation and sustainability over more than a century. The company in 2023 has around 11,996 employees. Their global footprint extends across North America, the Asia Pacific region, Europe, and the Middle East.

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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“Browse 251 market data Tables and 57 Figures spread through 261 Pages and in-depth TOC on “Sodium Hydroxide Market”

The sodium hydroxide market size is projected to grow from USD 44.9 billion in 2024 and is projected to reach USD 55.6 Billion by 2029, at a CAGR of 4.4%. The global sodium hydroxide market is anticipated to witness substantial growth during the forecast period. With increasing demand from various end-use industries such as chemical, textiles, pulp & paper, soaps and detergents, and alumina manufacturing, the market is poised for expansion. The rising adoption of caustic soda in water treatment applications, coupled with the growing need for industrial cleaning agents, further contributes to the market’s growth trajectory. Furthermore, the escalating need for sodium hydroxide in the food processing sector for functions such as pH regulation and food preservation, alongside the uptick in demand from the alumina application industry, contributed to the increased demand for sodium hydroxide during the forecast period.

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The key market players are The Sodium hydroxide market comprises key manufacturers such as are Tata Chemicals Ltd. (India), Olin Corporation (US), Westlake Corporation (US), Occidental Petroleum Corporation (US), Dow (US), Formosa Plastics Corporation (Taiwan), BASF SE (Germany), Xinjiang Zhongtai Chemical Co., Ltd (China), Nouryon (Netherlands), Grasim Industries Limited (India), among others. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and contract & agreement between 2019 and 2024, to enhance their market shares and expand their global presence.

Tata Chemicals Limited Tata Chemicals Ltd.  is a sustainable chemistry solutions company. It operates through two verticals – Basic Chemistry (Alkali chemicals-soda ash, sodium bicarb, salt, silica & other halogen chemicals – caustic soda) and Specialty Products (specialty silica, prebiotics & formulations, agrochemicals, and seeds). The company’s product portfolio provides key ingredients to many of the world’s leading brands for glass, detergents, pharma, food, animal feed, and other industries. It is a global producer of soda ash and sodium bicarbonate (3rd and 6th market positions, respectively). Tata Chemicals has 15 manufacturing facilities across four countries  India (Tata Chemicals), US (Tata Chemicals North America), UK (Tata Chemicals Europe), Kenya (Tata Chemicals Magadi) and South Africa (Tata Chemicals South Africa) and marketing presence in 30 countries.

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Westlake Corporation, is a diversified global industrial firm specializing in manufacturing and distributing essential goods. Its operations are divided into two segments, namely, Performance and Essential Materials and Housing and Infrastructure Products. The Performance and Essential Materials segment encompasses Westlake North American Vinyls, Westlake North American Chlor-alkali and Derivatives, Westlake European and Asian Chlorovinyls, Westlake Olefins, Westlake Polyethylene, and Westlake Epoxy.  In its Performance and Essential Materials division, the company produces and sells a range of products including polyethylene, styrene monomer, PVC (polyvinyl chloride), VCM (vinyl chloride monomer), ethylene dichloride (EDC), chlor-alkali products (chlorine and caustic soda), epoxy resins, and derivatives of chlorine. In the fiscal year 2023, the Performance Materials subsegment contributed 66% of the segment’s revenue, with Essential Materials accounting for the remaining 34%. The company has an annual production capacity of 8,140 million pounds of Caustic Soda, manufactured at its principal manufacturing facilities located in Calvert City, Kentucky; Geismar, Louisiana; Lake Charles, Louisiana; Plaquemine, Louisiana; Natrium, West Virginia; and Gendorf and Knapsack, Germany.

Occidental Petroleum Corporation, is an oil and gas exploration and production company that operates through various subsidiaries and affiliates. The company has three business segments: Oil and Gas, Chemical, and Midstream and Marketing. Its Chemical segment, operated through the subsidiary OxyChem, manufactures and markets basic chemicals and vinyls. OxyChem is a significant producer of polyvinyl chloride (PVC) resins, chlorine, and caustic soda, with manufacturing plants located at 21 sites in the United States and two international sites in Canada and Chile. As of December 2023, OxyChem had an annual production capacity of 3.2 million metric tons (MMT) of chlorine, 3.3 MMT of caustic soda, 1 billion pounds of chlorinated organics, 0.4 MMT of potassium chemicals, 2.1 billion pounds of ethylene dichloride (EDC), and 150 million pounds of chlorinated isocyanurates. In fiscal year 2023, the Chemical segment generated revenues of USD 5,321million, representing 18.0% of Occidental’s total revenue. It operates in the US, the Middle East, Latin America, and other countries. The company is headquartered in Houston, Texas, US

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• On October 2023, Solvay is enhancing the efficiency of its Soda Ash operations to better meet the demands of its global clientele and reinforce its cost competitiveness. Effective January 2024, the production capacity of its Torrelavega, Spain plant will be reduced by 300 kilotons to 600 kilotons of soda ash annually. The facility will prioritize catering to regional soda ash and premium grade sodium bicarbonate customers who appreciate its proximity and dedication to long-term sustainability.
• On December 2023, Dow has launched two innovative caustic soda products, Caustic DEC and TRACELIGHT DEC, as part of its Decarbia portfolio. These products offer up to 90% lower carbon dioxide emissions because of an electrolysis production process powered by renewable energy.
• On February 2022, Westlake Chemical Corporation announced that it had completed the acquisition of Hexion’s global epoxy business for approximately USD 1.2 billion in an all-cash transaction.
• In February 2022, Occidental Petroleum’s chemical division is contemplating a significant upgrade for certain chlor-alkali plants. This upgrade aims to enhance capacity, particularly for producing higher-value caustic soda. Such a move presents an opportunity for the company to substantially augment its current capacity to address the escalating demand for its principal products.
• In February 2022, Occidental Petroleum’s chemical division OxyChem announced plans to overhaul some of its chlor-alkali plants to increase production capacity for higher-value caustic soda.
• In 2018, Solvay and INEOS joined forces to establish INOVYN, a collaborative venture aimed at specializing in the manufacturing of chlorine, caustic soda, and various other chemical products. This strategic alliance has had a notable influence on the sodium hydroxide market, altering its dynamics and competitive landscape.

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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“Browse 276 market data Tables and 59 Figures spread through 254 Pages and in-depth TOC on “CCUS Absorption Market”

The global CCUS Absorption market size is projected to grow from USD 0.4 Billion in 2024 to USD 1.7 Billion by 2030, at a CAGR of 26.5% during the forecast period. Carbon Capture, Utilisation and Storage (CCUS) is a crucial technology for reducing carbon dioxide (CO2) emissions. CCUS involves capturing CO2 from large point sources like power generation and industrial facilities, utilizing it in various applications, and storing it in deep geological formations. The absorption technique used for carbon capture is a key method in CCUS. Chemical absorption is the most recognized method, where a chemical solvent reacts with CO2 to capture it. This process is commonly used in post-combustion capture, where flue gas is treated with a solvent to remove CO2. Other methods include physical separation, membrane separation, and cryogenic methods. The most mature technology is MEA (monoethanolamine) solvents, but research has shown that ammonia and PZ-AMP solvents have lower energy consumption and must be further investigated. CCUS is essential for achieving net zero emissions and is being supported by significant public funding and strategic initiatives globally. 

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The chemical and petrochemical, cement, iron and steel, oil and gas, and power generation industries all make extensive use of CCUS. Up to 95% of a plant’s CO2 emissions can be captured by the CCUS process and used for enhanced oil and gas recovery or other commodities including dry ice, urea, and carbonated drinks. North America held a dominant share of the CCUS Absorption market in 2023, accounting for 39.3% of the market’s value. The usage of CCUs has increased in part because of strict government regulations regarding the release of industrial effluent into the environment, especially in the US. The oil and gas industry in North America has been using captured carbon for enhanced oil recovery (EOR) as a means of supplying fuel for production rigs. This process is one of the primary applications for the trapped carbon.

It is anticipated that the market for CCUS absorption would expand quickly because of the growing demand to lower carbon emissions and create a healthier and more environmentally friendly atmosphere. The market’s primary motivator is the growing requirement to reduce carbon emissions. The governments of a number of nations, including the US, Canada, the UK, and Australia, are putting more emphasis on encouraging CCUS Absorption by providing tax breaks and other advantages to stimulate the market.

The primary factors influencing the CCUS Absorption market were the emphasis on lowering CO2 emissions, the stricter enforcement of emission standards, and current studies into the development of newer, even negative emission technologies. High initial investment and storage concerns have a detrimental impact on the CCUS Absorption market.

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The market for CCUS Absorption is highly concentrated, with major players holding a substantial share of the market, including ExxonMobil Corporation (US), Equinor ASA (Norway), Honeywell International Inc. (US), Fluor Corporation (US), Mitsubishi Heavy Industries Ltd. (Japan), Royal Dutch Shell Plc (Britain), TotalEnergies SE (France), BASF SE (Germany), JGC Holdings Corporation (Japan), Schlumberger Ltd. (US), Aker Solutions (Norway), Siemens AG (Germany), Hitachi Ltd. (Japan), General Electric (US), Chevron Ion Clean Energy (US). Major corporations are working to improve the efficiency of the current CCUS technology as well as research and develop additional technologies.

Flour Corporation is a multinational engineering, procurement, construction, and maintenance company headquartered in Irving, Texas. Established in 1912, Flour Corporation operates as a holding company, delivering services through its subsidiaries across three primary sectors: oil and gas; industrial and infrastructure; and government and power. One of Fluor’s key areas of expertise is carbon capture technology. The company is one of the global leaders in CO2 capture technology providing comprehensive tailored to carbon capture projects, encompassing CO2 compression and transportation solutions. Fluor Corporation operates in three major business segments: energy solutions, urban solutions, mission solutions, and others. It operates the carbon capture, utilization, and storage business in the energy solutions segment. The company has over 30 years of experience in carbon capture technologies.

ExxonMobil Corporation is a preeminent global energy and chemicals conglomerate, boasting the largest carbon capture capacity, with a significant lead over its nearest competitor and surpassing the combined capacity of the next five players. The company’s expertise is multifaceted, encompassing all three of its core business divisions: chemical, upstream, and downstream. The chemical division specializes in the production and sale of petrochemicals, a diverse range of performance materials. The upstream division is engaged in oil and gas exploration, while the downstream division focuses on the manufacture and distribution of lubricants and crude oil derivatives. With a rich history spanning over five decades, ExxonMobil Corporation is the most established and respected name in the carbon capture, utilization, and storage industry. Currently, it accounts for approximately 40% of the global carbon capture, utilization, and storage capability.

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Schlumberger Limited offers a comprehensive range of products and services, from exploration to production and integrated pore-to-pipeline solutions for hydrocarbon recovery. The company conducts its business-related operations through four major segments: well construction, production systems, reservoir performance, and digital & integration. Schlumberger Limited offers carbon services, technical expertise, project management (selection, planning, construction, operation, and monitoring of sites), and integrated technology for inclusive carbon dioxide geological storage solutions. The company provides carbon capture services through its business solutions. For over two decades, Schlumberger has been instrumental in over 100 Carbon Capture, Utilization, and Storage (CCUS) projects worldwide, spanning various industry sectors. It operates in more than 100 countries, with a strong network of 125 research & engineering technology centers, and has executive offices in Paris, Houston, London, and The Hague. The company aims to achieve a competitive advantage through R&D investments.

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/ccus-absorption-market-195003573.html

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To view the original version on ABNewswire visit: CCUS Absorption Market Size 2024 – Current Sales Analysis, Upcoming Trends, Opportunities, Development History, and Future Forecast – 2030