Chemical Insights - Industry Forecast

  The global polymethyl methacrylate market size is anticipated to reach USD 8.1 billion by 2030, registering a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for lightweight and high-strength materials in the automotive and construction industry is propelling the polymethyl methacrylate (PMMA) industry growth.Polymethyl methacrylate has witnessed a rise in demand from the sign & displays industry for the manufacturing of sheets, owing to its attributes including low weight and shatter resistance. PMMA is additionally considered an alternative to glass used in windows, aquariums, hockey rinks, and others. The COVID-19 pandemic had a negative impact on the market due to the lockdown in the majority of countries. Owing to the vast spread of the virus, a majority of the manufacturing and production plants were shut off, which directly impacted the global supply chain. In addition, the ban on imports and exports caus...

  The global flow chemistry market size is expected to reach USD 3.75 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.6% from 2024 to 2030. Advantages over batch reactors and growing investments in the pharmaceutical and chemical industries are projected to boost the market growth. The COVID-19 pandemic has accelerated the need to move away from chemical commodities to specialty chemicals as per the requirement of customers. Moreover, the adoption of continuous manufacturing has increased due to the supply chain disruptions caused by the pandemic, which is expected to augment the demand for flow chemistry over the forecast period. Significant reductions in trash output and the eradication of non-renewable industrial methods are global environmental concerns. As a result, major economies are enacting policies to mitigate environmental damage. Several governments are implementing policies to meet the targets for reducin...

  The global aramid fiber market size is expected to reach USD 6.98 billion by 2030, registering a CAGR of 8.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Superior properties, such as strength and heat-resistance, of aramid fiber have promoted its utilization in the production of body armor fabric. The growing need for security and protection across various industries, such as mining, healthcare/medical, oil & gas, building & construction, and military, is projected to propel the market growth. In addition, stringent regulations in developing economies related to occupational safety are likely to benefit the market growth over the forecast period. Aramid fibers are being increasingly used as an alternative to metal wire and organic fiber in structural composite applications in the aerospace and marine sectors, and ropes for oil rigs in offshore locations. In addition, product benefits, such as non-aggressive wear & tear on drums and discs ...

  The global hydraulic cylinder market was valued at USD 15.32 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 4.2% from 2022 to 2030. The increased adoption of hydraulic cylinders across diverse industries—including material handling, construction and infrastructure, marine, and earthmoving—is driving this growth. However, the COVID-19 pandemic introduced considerable volatility in global commodity prices, disrupting raw material supply and demand. Lockdown restrictions imposed to limit virus spread led to a significant economic downturn, deeply impacting production activities and, in turn, the demand for hydraulic cylinders. In North America, the United States faced the highest number of COVID-19 cases, followed by Canada and Mexico. The pandemic negatively impacted supply chains and distribution networks, hindering market growth across the region. To counter these challenges, the U.S. government has been investing heavily in sectors such as co...

  The global biochar market was valued at USD 541.8 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2030. The primary drivers of market growth include the increasing use of biochar in organic food production, as well as its ability to improve soil fertility and promote plant growth. The European Biochar Certificate has enacted regulations supporting the direct application of biochar to soil in countries like Austria and Switzerland. Biochar is produced through the controlled heating of waste materials such as agricultural, wood, forest waste, and animal manure. Among its applications, biochar is widely used as a soil amendment to reduce pollutants, prevent soil leaching, retain moisture, and reduce fertilizer runoff.   Factors such as growing environmental awareness, lower raw material costs, and supportive government policies for waste management are expected to provide further opportunities for market expansion. The bio...

  The global botulinum toxin market was valued at USD 11.1 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2030. Botulinum toxin is a neurotoxin and protein produced by the bacterium Clostridium botulinum. It acts as a selective blocker of acetylcholine, a neurotransmitter, which disrupts neural transmission when injected into muscles. This makes botulinum toxin one of the most extraordinary substances in the fields of medicine and science. Over the past decade, its use in cosmetology has surged, making it one of the most popular aesthetic procedures globally. The rising focus on aesthetics in both developed and developing regions has significantly contributed to the increased number of cosmetic procedures.   The market's growth is also propelled by the availability of a range of botulinum toxin products, including Botox, Xeomin, Dysport, and others. These products are widely used in aesthetic treatments, such as reducing ...

  The global exoskeleton market was valued at USD 419.5 million in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 16.6% from 2024 to 2030. In terms of volume, the market reached 13,643 units in 2023 and is expected to grow at a CAGR of 9.3% over the same period. Key factors contributing to this growth include the rapidly aging global population, increased adoption of medical devices across industries like automotive, military, defense, and construction, and the rising occurrence of strokes.   Additionally, the growing incidence of spinal cord injuries (SCI) is another major driver. For example, according to the National Spinal Cord Injury Statistical Center (NSCISC), there are around 17,730 new SCI cases annually in the U.S., and about 291,000 people are currently living with SCIs.   Exoskeletons are increasingly used in various industries to improve employee health and enhance productivity. This rising demand has led to the emergence of se...