Chemical Insights - Industry Forecast

  The global   brazed plate heat exchangers market   was valued at USD 0.99 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.3% over the forecast period. This growth is driven by increasing usage across various applications, including floor heating systems, economizers, oil coolers, condensers, refrigerant evaporators, super-coolers, and a wide range of industrial processes. The COVID-19 pandemic had a significant adverse impact on numerous end-use industries. Stringent government measures, such as the shutdown of major economies, brought much of global industrial activity to a standstill. Additionally, the enforcement of safety protocols curtailed manufacturing demand, negatively affecting market growth. However, the pandemic also spurred major transformations in supply chains and heightened the focus on environmental sustainability, prompting companies to revise their strategies—thereby contributing to market expansion. Regulatory pr...

  The global   phosphoric acid market   was valued at USD 41.26 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.2% between 2023 and 2040. A major driver of this growth is its extensive application in producing phosphate fertilizers, particularly Mono-Ammonium Phosphate (MAP) and Diammonium Phosphate (DAP). Phosphoric acid ranks as the second most widely consumed inorganic acid worldwide, following sulfuric acid. It is manufactured industrially in three distinct grades based on concentration and end-use: food grade, agriculture grade, and industrial grade. Of these, the agriculture grade dominates the global market in both value and volume, due to its prevalent use in fertilizer production. In North America, the United States stands out with a strong agrochemical sector. It hosts several major fertilizer manufacturers such as BASF SE, Fertilizer Canada, Yara, among others. Agriculture plays a significant role in the country’s economy, ...

  The global   flame retardant market  was valued at   USD 8.63 billion in 2022   and is projected to expand at a   compound annual growth rate (CAGR) of 7.1%   from 2023 to 2030. This growth is primarily driven by the increasing use of fire-resistant materials across various end-use industries, including   electrical & electronics, transportation, construction, and more. These sectors are adopting flame retardant materials to comply with stringent fire safety regulations. Additionally, growing consumer awareness about the need to improve the fire resistance of combustible materials and products further fuels demand. In residential and commercial settings, flame retardants help mitigate fire risks posed by the growing number of electrical devices and appliances. Flame retardants also protect modern materials and equipment—such as building insulation, engineering thermoplastics, circuit boards, and cables—from catching fire and spreading f...

  The global   kaolin market   size is expected to reach USD 5.22 billion by 2030, registering a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. The rising prominence of kaolin especially in the manufacturing of whiteware ceramics is projected to aid the market growth over the predicted timeline. According to the stats released by the United States Geological Survey (USGS) in 2022, the global production of kaolin was estimated at around 46 million tons in 2020. The key kaolin-producing countries are the U.S., Uzbekistan, China, India, Germany, the Czech Republic, and others. Among these countries, India was the front runner with a total estimated production volume of approximately 7.6 million tons in 2020. Key global players in the kaolin industry include BASF SE, Sibelco, and Imerys SA. There are no significant merger & acquisition activities observed in recent years. Although, Sibelco N.V. and Thiele Kaolin Company initi...