Steel Wire Market Share, Size, Expected Growth Opportunities and Forecast by 2028 | Know the Russia Ukraine Impact On Steel Wire Industry in Japan

The global steel wires market size isprojected to reach USD 112.14 billion by 2026, on account of rising in the expenditure by the government to develop the existing infrastructures. Steel wires offer high resistance to shock and deformation, are lightweight, and have high strength. Fortune Business Insights™ provides a detailed analysis of the market in their recently published report titled, “Steel Wires Market Size, Share & Industry Analysis, By Grade (Carbon Steel, Stainless Steel, and Alloy Steel), By End-Use Industry (Automotive, Construction, Energy, Agriculture, and Others), and Regional Forecast, 2019-2026.” As per this report, the market value stood at USD 91.33 billion in 2018 and will exhibit a CAGR of 2.7% during the forecast period set between 2019 and 2026.

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Russia-Ukraine War Implication

Krypton Market Key Players, End User, Demand and Consumption by 2029

The global krypton (Kr) market size is expected to reach USD 50.23 million by 2028, exhibiting a CAGR of 0.8% during the forecast period. The surging demand for energy-efficient buildings coupled with growing application in the military sector will propel the market growth in the forthcoming years, states Fortune Business Insights, in a report, titled “Krypton Market, 2021-2028.”  The market size stood at USD 47.12 million in 2020.

COVID-19 Impact

Debilitated Construction Sector to Inhibit Kr Business During Coronavirus

The spread of coronavirus disturbed numerous sectors around the world. Krypton is created in sophisticated air separation units; thus, restriction on non-essential services has dampened Kr production and supply. The surging cases of coronavirus have dropped demand from industries such as glazed window manufacturing, the lighting industry, and others. However, major producers such as Linde are adopting strategies to cater to the demand for oxygen and other medical gases from hospitals during the pandemic. Also, the surging semiconductor industry can spur opportunities for the global krypton market during the outbreak.

 

 

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Market Segments:

The Lighting Segment to Hold the Largest Share

Based on application, the market is classified into lighting, window insulation, laser, and others. The lighting segment is expected to account for the largest share during the forecast period. Krypton-filled lamps are popular in industrial lighting applications due to their long-life span and high white light luminance. The laser segment is expected to hold a significant share during the forecast period due to its high demand for Kr excimer lasers in semiconductors and medical fields.

The window insulation segment is expected to experience enormous demand during the forecast period due to the proclivity towards energy-efficient buildings and multi-layer glazing windows.

Geographically, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

List of the Leading Companies Profiled in the Global Krypton Market are:

• Air Liquide (France)
• Linde PLC (Ireland)
• Air Products & Chemicals, Inc. (USA)
• Messer Group GmbH (Germany)
• Proton Gases (India) Pvt. Ltd. (India)
• Matheson Tri-Gas, Inc. (USA)
• American Gas Products (AGP LLC) (USA)
• Coregas Pty Ltd. (USA)
• Akela-p Medical Gases P. Ltd. (Russia)
• Electronic Fluorocarbons, LLC (USA)
• Iceblick Ltd. (Ukraine)
• Air Water Inc. (Japan) 

Highlights of the Report

The report highlights an insightful study of the industry, while shedding light on vital facts and figures. It also offers intuitive data about dominant regions, policies adopted by governments and companies. Besides, providing a brief overview of the market with future insights. The report also encompasses key factors and restraints, helping our readers to get an overall view of the market.

Driving Factor:

Growing Popularity of Glazing Windows to Boost Krypton’s Demand

The increasing adoption of high-end double and triple glazed windows will have an excellent impact on the market. Some of its advantages include superior thermal, and acoustic insulation. The increasing demand for high-performance and energy-efficient windows will enable the speedy expansion of the market. Moreover, due to their sound-absorbing properties, multi-layered windows are in huge demand, especially in areas with high temperatures such as the Middle East and cold temperatures of Europe. These windows have great functionality and efficiency, enabling low-temperature absorption in summers and high-temperature retention in winters. Hence, its application in the production of glazing windows will uplift the krypton market share.

Regional Insights:

Government Initiatives for Green Infrastructure to Propel Growth in Europe

The market in Asia Pacific is expected to dominate the market during the forecast period due to the inflated demand for Kr from the construction and semiconductor industries. China held a significant share due to the increasing urbanization in the region. Rapid advancements in the construction industry will contribute to the growth in the region. North America is expected to account for the second-largest share due to the government support for energy-efficient and greener buildings. For instance, in 2010, the U.S. government launched a tax-saving program for thermal insulation measures that increased the demand for high-performance windows. Moreover, the increasing application of Kr in space missions will further escalate the market in North America. For instance, SpaceX uses krypton instead of xenon in electric propulsion engines for satellite launches due to its cost-effectiveness and abundant availability.

Notable Development:

May 2019: SpaceX directed 60 satellites from Starlink broadband mega constellations. All the satellites have maneuvering capacity and are programmed to avoid collisions. These satellites will use Kr instead of Xe for propulsion.

 

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Latest Technological Advancement
  • Insights on Regulatory Scenario
  • Key Market Trends
  • PEST Analysis
  • Key Developments
• Impact of COVID-19 on Krypton Market
  • Supply Chain Challenges
  • Steps taken by companies to combat COVID-19 Outbreak
  • Novel Opportunities During COVID-19 Pandemic

TOC Continued…!

 

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Liquid Packaging Carton Market Analysis By Key Players, Share, Revenue, Trends, Size, Growth, Opportunities, and Regional Forecast To 2029

 The liquid packaging carton market size is expected to grow because manufacturers are focusing on visually attractive packaging resulting in increased brand value and sales. Fortune Business Insights^TM has presented this information in its upcoming report titled, “Liquid Packaging Carton Market, 2022-2029”. Furthermore, government regulations governing the use of polyethylene films and pouches for liquid product packaging are likely to provide potential growth prospects for the industry.

COVID-19 Impact -

During the devastating COVID-19 virus outbreak, almost all regions globally were obliged to implement lockdowns, which halted all manufacturing except essential commodities. Despite the virus's outbreak, liquid packaging carton production continued unabated to provide packaging solutions to food and beverage producers.

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Segmentation -

On the basis type, the market is fragmented into gable top, shaped liquid cartons, and brick liquid. On the basis of shelf life, the market is split into short-term and long-term shelf life cartons. On the basis of application, the market is divided into juice & drinks, wine & spirits, dairy products, and others. Geographically, the market is classified into Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa.

Report Coverage

The report offers firsthand knowledge about liquid packaging carton market growth. Furthermore, it examines macroeconomic data, parent market trends, and controlling factors in-depth, as well as market attractiveness by segment. The qualitative influence of key market factors on market segments and regions is also mapped out in the report, inclusive of the COVID-19 impact on the market.

Drivers & Restraints –

Manufacturers to Focus on Visually Enticing Packaging to Boost Sales and Brand Value

Manufacturers are increasingly focusing more on visual presentation and appealing packaging in order to increase sales and brand value, which is projected to benefit the industry’s market. As a result of government regulations requiring the use of polyethylene films and pouches for the packaging of liquid products, the market for liquid packaging cartons is expected to experience potential growth. Manufacturers are switching to liquid packing cartons because of environmental concerns, which will drive the liquid packaging carton market growth.

Although, the market may be hampered by a high preference for plastic pouches for packaging liquid food products since they offer convenient transportation and cost-effective benefits.

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Regional Insights –

Disposable Income and Growing Population to Make Asia Pacific a Fastest Expanding Region

Asia-Pacific is growing at a faster pace; the market’s growth is attributable owing to the rise in increased disposable income, increasing population, and consistent economic growth. The rise of the liquid packaging carton industry in Europe is being fueled by Germany's packaging market dominance in liquid dairy goods.

North America to witness exponential growth owing to the surge in customer demand for convenient items, ready-to-transport, and the carton's eco-friendly characteristics are both contributing to the expansion of the market.

In Latin America, demand and consumption patterns are expected to increase as the market recovers. The Middle East & Africa is expected to see swift growth due to many factors, including an aging population, technological advancements in the packaging sector, eco-friendly nature, and others.

Competitive Analysis-          

Key Players To Launch New Products in Developing Countries to Expand Manufacturing Operations

The majority of companies, Evergreen Packaging Inc., Tetra Pack Inc., and others, are focusing on launching new products and growing their manufacturing operations in developing countries. The strategies include collaborating with key players, innovations, strategic partnerships, and strengthening regional and global distribution networks.

For instance, in November 2020, for the Central and Eastern European territories, Tetra Pak International S.A. and Stora Enso cooperated to develop a recycling line for used beverage cartons.

Industry Developments

May 2021: Tetra Pak International S.A. and Stora Enso collaborated to build a recycling line for used beverage cartons for the Central and Eastern European markets.

List of Key Players in the Market:

• Elopac Inc.
• Evergreen Packaging Inc.
• Tetra Pack Inc.
• Greatview Aseptic Packaging Co. Ltd.
• Nippon Paper Industries Co. Ltd.
• Smurfit Kappa
• Reynolds Group Holdings Ltd.
• Liqui-Box
• ONEX Corporation

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Japan Nitric Acid Market Report size stood at USD 22,268.1 million in 2019

 In a recently published report by Fortune Business Insights™, titled, "Japan Nitric Acid Market Report 2022", the analysts have provided an in-depth overview of the Japan Nitric Acid Market. The report is an all-inclusive research study of the Japan Nitric Acid market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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The global Japan Nitric Acid market share is expected to reach USD 27,536.9 million by 2027, exhibiting a CAGR of 3.5% during the forecast period. The booming automotive industry in developing nations has led to high consumption of this acid, which, in turn, will bode well for the market, states Fortune Business Insights, in a report. The Japan Nitric Acid market share size stood at USD 22,268.1 million in 2019.

This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Nitric Acid Market Report:

Top companies covered are BASF SE, Nutrien, DuPont, CF Industries Holdings, Inc, Omnia Holdings Limited and many more profiled players in Japan Nitric Acid market research report

Most Important Features in this Report:

1. Detailed market study of the Japan Nitric Acid market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Nitric Acid Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Nitric Acid Market:

The Japan Nitric Acid research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Nitric Acid Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Nitric Acid Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Nitric Acid Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Nitric Acid Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Asphalt Emulsifiers Market Analysis, Size, Share, Trends, Demand, Growth, Opportunities and Forecast 2029

 The global asphalt emulsifiers market size is likely to experience dynamic growth in the forthcoming years as a result of rapid innovations and technological advancements, along with speedy globalization. The Asphalt Emulsifiers Market size is forecasted to reach USD by 2029. According to a report published by Fortune Business Insights, titled Asphalt Emulsifiers Market Size, Share & Industry Analysis, By Type (Anionic, Cationic, Nonionic), By Application (Road Construction & Paving, Roofing, Airport Construction, Others) And Regional Forecast 2021-2029

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Report Aim & Scope:

• An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
• The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
• The various parameters accelerating the growth of the market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the market during the forecast period.

The chemical industry has undergone tremendous changes over the past decade. Armed with an extensive and diverse range of products, the industry has found prolific success in developing as well as developed economies. Post the economic recession of 2007, this industry has grown at a steady pace. Spreading awareness about environmental issues and evolving consumer preferences are positively impacting this industry. As per the European Chemical Industry Council, the demand and consumption of chemicals in Europe is anticipated to increase. Targeted investments in R&D for developing novel chemical-based products are likely to feed the proliferation of factories and other industrial units. Furthermore, the surging demand for chemicals is a consequence of increasing consumer spending. Employment in this sector is also expanding at a rapid rate, which in turn is expected to generate several growth opportunities. These factors are thus expected to drive the Asphalt Emulsifiers Market in the forthcoming years.

However, the Asphalt Emulsifiers Market growth is likely to be hindered by the COVID-19 pandemic as lockdowns, social distancing, and trade restrictions have caused massive disturbances in the global supply chain networks. Production operations have slowed down as plants and factories are being forced to function with a reduced workforce. Together, these factors have shrunk the revenues of key players in this market, which will inevitably hamper investments in the market. Nonetheless, certain companies will also experience exponential growth owing to the escalating demand for packaged medical and pharmaceutical products, personal protective equipment, and packaged food & beverage items.

As per the report, Europe, North America, Africa is anticipated to dominate the Global Asphalt Emulsifiers Market share throughout the forecast period. Besides this, the report profiles some of the key players operating in the Asphalt Emulsifiers Market

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Research Methodology

The Asphalt Emulsifiers Market report offers an in-depth evaluation of the chemical industry and the demand drivers for chemicals by highlighting information on several aspects of the market, including drivers, trends, opportunities, and challenges. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers. These advancements will help companies to gain decisive advantage in the competitive landscape of the market. Companies are also adopting diverse strategies to stay ahead of their competitors. These strategies include: mergers and acquisitions, partnerships, collaborations, and new product developments, among others.

The information has been gathered through primary and secondary sources, comprising of interviews from several industry experts and professionals. Secondary sources such as press releases, information from recognized institutes, and other collaterals have been utilized to holistically analyze the industry. Further, top-down and bottom-up approaches have also been employed to ensure 360-degree assessment.

Key Players Assessment in this Research:

• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in this market
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

List of the Companies Profiled in the Global Market for Asphalt Emulsifiers:

• Nouryon
• AkzoNobel N.V
• Arkema Group
• Opal Paints Products Pvt Ltd
• Industrial Oleochemical Products
• Petrochem Specialties
• Kao Corporation
• Ingevity Corporation
• The Dow Chemical Company
• Evonik
• Chemoran
• RX Marine International
• Pinova Inc
• Shaoxing Shangyu Simo Research Institute of Organic Chemistry
• Vizag Chemicals
• G R Infraprojects Ltd

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Japan Amorphous Soft Magnetic Materials Market size in terms of revenue during the predicted period

 In a recently published report by Fortune Business Insights™, titled, "Japan Amorphous Soft Magnetic Materials Market Report 2022", the analysts have provided an in-depth overview of the Japan Amorphous Soft Magnetic Materials Market. The report is an all-inclusive research study of the Japan Amorphous Soft Magnetic Materials market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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The global Japan Amorphous Soft Magnetic Materials market is set to gain traction from the increasing research activities to develop new fabrication methods. Several researchers are striving to blend amorphous and nano-crystalline alloys for improving ductility & thermal stability. Fortune Business Insights™ presents this information in a new study. The study further mentions that the Japan Amorphous Soft Magnetic Materials market size was USD 522.4 million in 2019 and is projected to reach USD 728.5 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.

This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Amorphous Soft Magnetic Materials Market Report:

Top companies covered are Hitachi Metals, Ltd. (Tokyo, Japan), VACUUMSCHMELZE GmbH Co KG (Hanau, Germany), CHINA AMORPHOUS TECHNOLOGY CO., LTD. (Guangdong, China), BOMATECH (Höri, Switzerland), Toshiba Materials Co., Ltd. (Yokohama, Japan), AMES SA (Barcelona, Spain), Advanced Technology & Materials Co., Ltd. (Beijing, China), MK Magnetics Inc. (California, U.S.) and others

Most Important Features in this Report:

1. Detailed market study of the Japan Amorphous Soft Magnetic Materials market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Amorphous Soft Magnetic Materials Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Amorphous Soft Magnetic Materials Market:

The Japan Amorphous Soft Magnetic Materials research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Amorphous Soft Magnetic Materials Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Amorphous Soft Magnetic Materials Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Amorphous Soft Magnetic Materials Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Amorphous Soft Magnetic Materials Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Japan Cracking Catalysts for Propylene Market Growth, Size, Future Demands, Business Revenue, Segmentation and Regional Forecast by 2029

 The global cracking catalysts for propylene market size is likely to observe rapid growth in the forthcoming years. The growth is primarily attributable to rising product demand for polypropylene production, which is a thermoplastic polymer used in a wide variety of applications. Fortune Business Insights™ has presented this information in an upcoming report titled, “Cracking Catalysts for Propylene Market, 2022-2029”.

Polypropylene carries many physical and chemical characteristics, such as strong chemical resistance, high tensile strength, and high surface solidity. These characteristics make it useful in several applications like automobile, packaging, medical, construction, etc. Thereby augmenting the demand for cracking catalysts for propylene production.

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Key Players in the Global Cracking Catalysts for Propylene Market are:

• R. Grace & Co. Conn.
• Technip Stone & Webster Process Technology Inc.
• Axens
• Albemarle Corporation
• JGC C&C
• BASF SE
• McDermott
• CECO Environmental
• MERYT
• Shell
• Maverick Engineering Inc.
• Gazprom Neft PJSC

Segmentation-

On the basis of type, the market segments into MMC, CHP, CIP, CRP, etc. On the basis of application, the market bifurcates into fluid catalytic cracking and steam cracking. Geographically, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Report Coverage-

• The report offers an in-depth evaluation of the market.
• The report highlights information on several crucial market aspects like drivers, trends, opportunities, and threats.
• The report also presents information on the industry developments by key players.
• The report will help the business to gain decisive advantages pertaining to growth in the prospected market.
• The report also highlights the impact of COVID-19 and suggests measures and strategies to grow in the upcoming years.

Drivers & Restraints-

Growing Demand for Polypropylene to Augment Market Growth

Rapid urbanization in developing countries like India and China is fueling the growth of the chemical industry. This has led to a surge in demand for petroleum products which is, in turn, driving the cracking catalysts for propylene market growth. Rising product demand for the production of polypropylene is another major growth propellant. Polypropylene is used in industries like construction, packaging, medical, electrical & electronics, etc., further augmenting the product demand. Additionally, propylene is used to manufacture acetone, methyl methacrylate, acrylic acid, and acrylonitrile. A myriad of applications is expected to drive the market growth in the forthcoming years significantly.

However, fluctuating prices of petrochemicals and the environmental risks posed by propylene are likely to restrain the market growth.

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Regional Insights-

Asia Pacific to Emerge as Global Leader

Asia Pacific is expected to hold a substantial portion of the global cracking catalysts for propylene market share. Escalating demand for propylene for the manufacturing of polypropylene is anticipated to be a major growth propellant. The growth is likely to be further fueled by the mounting adoption of naphtha in the feedstocks.

North America is anticipated to observe considerable growth on account of escalating demand in fluid catalytical cracking.

Mounting demand for steam cracking in propylene production is likely to help Europe observe substantial growth in the forthcoming years.

The rising adoption of polypropylene for packaging is anticipated to help the Middle East & Africa, and Latin America witnessed striking growth in the upcoming years.

Competitive Landscape-

New Product Launches & Technological Innovations to be Key Growth Strategies

The global cracking catalysts for the propylene market comprises several key players like BASF SE, Maverick Engineering, MERYT, etc. These key players focus on developing new technologies for efficient production and reducing the impact on the environment imposed by the production of propylene and polypropylene. Major business giants are also focusing on adopting growth strategies such as partnerships, mergers, acquisitions, etc. Most recently, Larsen & Toubro won the HPCL Rajasthan Refinery contract in January 2021 to set up a catalytic cracking unit.

Industry Developments-

• May 2020: BASF announced the launch of ZEAL, a new fluid catalytic cracking (FCC) additive product. The product is designed to enhance light olefins production in FCC units for gas oil or resid feedstock process

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