Chemical Insights - Industry Forecast

  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...

  The global carbon dioxide market size was estimated at USD 10.94 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2030. This is attributed to its growing application in enhanced oil recovery (EOR) due to the depleting oil reserves and heavy dependence on crude oil imports, mainly in the Asia Pacific. Moreover, growing end-use industries like food & beverages and medical are expected to boost the carbon dioxide (CO2) industry during the forecast period. The U.S. is one of the most prominent markets for CO2 in the world, growing at a CAGR of 4.9% in terms of revenue in the upcoming years. The growth of the CO2 industry in the U.S. is attributed to increasing industrialization and the flourishing oil and gas industry in the country.   As per the U.S. Energy Information Administration U.S. dry natural gas production in 2022 was ~1.29 trillion cubic feet, greater than in 2021 owing to higher prices for natural gas & in...

  The global activated carbon market size was estimated at USD 4.92 billion in 2023 and is projected to grow at a CAGR of 6.0% from 2024 to 2030.Activated carbon is used to purify liquids and gases in various end-use applications including municipal drinking water, food & beverage processing, and automotive among others. This is attributable to its beneficial properties such as cost effectiveness, easy removal of bad taste, color stability, and quick removal of bad odor.   Stringent regulations related to the maintenance of air quality, coupled with the rise in investments to set up municipal and industrial wastewater treatment plants worldwide, is likely to positively impact the market. They are commonly used in water treatment chemicals due to its ability to remove impurities and contaminants from water. The process of using the product in water treatment involves adsorption, which is the binding of contaminants to the surface of the carbon material.   Gather mo...

  The global advanced ceramics market size was estimated at USD 107.00 billion in 2023 and is projected to grow at a CAGR of 4.2% from 2024 to 2030. Increasing demand for advanced ceramics in various industries, coupled with growth in the medical and telecom sectors, is expected to drive market expansion. Advanced ceramics, also known as technical ceramics, possess improved magnetic, optical, thermal, and electrical conductivity. End-users can reduce their production and energy costs by utilizing advanced ceramics that provide high efficiency to end products.   Asia Pacific is a leading market for advanced ceramics in the world in terms of their consumption.   The rise in demand for advanced ceramics in the U.S. can be attributed to an increasing preference for lightweight materials across various industries. The production and consumption of these materials and components for the electrical and electronics sectors have been on the rise due to the growing need for unint...

 The global epoxy resin market size is expected to reach USD 16.87 billion by 2030, registering a CAGR of 6.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for epoxy-based composites across end-use industries is expected to drive the market during the forecast period. Epoxy resins are used to manufacture composite materials that are used widely in load-bearing applications, such as automotive, aerospace, construction, oil & gas, and marine, owing to their high super adhesiveness and high mechanical &other properties. The demand for high-performance composites is expected to witness growth in the commercial airplane sector as well as emerging opportunities in various applications, such as wind turbines and pressure vessels.   However, the relatively high cost and labor-intensive production of advanced composites are anticipated to prevent these composites from penetrating high-volume and price-sensitive markets. Increasi...