Fortune Business Insights

 The North America adhesives and sealants market size is expected to gain momentum by reaching USD 19.35 billion by 2028 while exhibiting a CAGR of 4.2 % from 2021 to 2028. In its report titled "North America Adhesives and Sealants Market, 2021-2028," Fortune Business Insight mentions that the market stood at USD 14.00 billion in 2020.

The availability of sustainable and greener adhesives positively promotes its market since it is safe for people's health and the environment. The increasing consumption of such products reduces the carbon footprint and contributes to the overall sustainability in different packaging applications, such as bottle labeling, paper lamination, and carton sealing. Moreover, water-based adhesives, such as animal glue and LD Davis, are extremely safe for food packaging. These water-based adhesives are made of gelatins that are used in the pharmacy industry to make capsules. Thus, the market is expected to rise during the foreseeable years.

 List of Key Market Players Profiled in Market for North America Adhesive and Sealants

• Henkel Corporation
• Sika AG
• H.B. Fuller Company
• Evonik Industries 
• Dow  
• Wacker Chemie AG
• Arkema  
• Pecora
• Momentive
• MBCC Group  
• PPG Industries
• The Sherwin-Williams Company
• RPM International Inc.

What does the Report Provide?

The market for North American adhesives and sealants provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth.

Driving Factor

Rising Automotive Sector to Drive Market Growth

The rising disposable income has increased the demand for passenger cars, which positively promotes adhesives and sealants market growth as car manufacturers use sealants to protect the vehicle's surface and provide a glossy effect. Moreover, the use of adhesives in the construction sector is also promoting the market growth. Such adhesives are required in wide applications such as fixing roof tiles, adhering to ceramic tiles, and drywall laminations. Additionally, the growing demand for wood houses and flooring in the U.S and its use in nonstructural and structural bonding is fueling the market growth.

On the contrary, some adhesives are considered dangerous as they are volatile. The U.S. Environmental Protection Agency (EPA) reported that prolonged exposure to a high VOC concentration causes nose and eye irritation, headache, breathing difficulties, and long-term damage to the kidney and liver.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/north-america-adhesives-and-sealants-market-105576

COVID-19 Impact

The pandemic has caused irregularity in supply and demand. Manufacturers faced loss, as there was a decline in refurbishment and renovation activities during the outbreak. Construction and automotive business were halted due to the unavailability of the working force and lack of raw materials. However, the market is expected to regain its momentum during the forecast period, as many nations can curb the spread of the virus.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Regional Insights

Growing Awareness about Sustainable Packaging in the U.S. to Fuel the Market

North America adhesives and sealants market share in the United States stood at USD 11.88 billion in 2020. In North America, demand for adhesive is rising owing to the inclination towards flexible packaging. Additionally, demand for recyclable products has increased in the region. As per the United States Environmental Protection Agency, in the year 2019, the number of recycled packaging containers was 53.9 percent. Apart from its use in the packaging industry, growing demand from construction, automotive & transportation, packaging, and electronics industries, will augment the market growth in the U.S. in foreseeable years.

Competitive Landscape

Key Players Focus on Launching Innovative Products to Intensify Competition

The market is consolidated by the presence of major companies striving to maintain their position by expanding their services and launching new products in the market. For instance, In February 2021, H.B. Fuller announced the launch of high-performance adhesives with Swift tak 5730 grade. It will help to create a safe consumer experience, and it is compatible with fast-moving machines.  Moreover, other key players are adopting proactive strategies such as collaborations, acquisitions, mergers, and facility expansion to favor the market's growth in the forthcoming years.

Industry Development

• April 2021:  H.B. Fuller announced the launch of flexible packaging in the market. It came up with two compostable adhesive solutions, the Flextra Evolution brand, including SF1000CP/XR2000CP and WB1200CP/XR2200CP solutions.

The global elevator and escalator market size was USD 77.82 billion in 2020. The market is projected to grow from USD 79.7 billion in 2021 to USD 122.8 billion in 2028 at a CAGR of 6.4% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Elevator and Escalator Market, 2021-2028.”

The increasing investment in commercial and residential infrastructure ventures in the emerging as well as established economies, is leading to the growth of the market. Surging construction projects of the biggest and tallest commercial buildings in various regions are anticipated to develop the approval rate of the product.

Key Providers of Elevator and Escalator Present in This Market

• thyssenkrupp AG (Cinven, Advent and RAG foundation) (Essen, Germany)
• United Technologies (Massachusetts, U.S.)
• Schindler (Ebikon, Switzerland)
• KONE CORPORATION (Espoo, Finland)
• Hitachi, Ltd. (Tokyo, Japan)
• HYUNDAI ELEVATOR CO., LTD. (Gyeonggi-do, South Korea)
• Mitsubishi Electric Corporation (Tokyo, Japan)
• Johnson Elevator Co., Ltd. (Jiangsu, China)
• FUJITEC CO., LTD (Tokyo, Japan)
• Toshiba Corporation (Tokyo, Japan)

Report Coverage

We have executed an exclusive research method that comprises information triangulation based on the renowned bottom-up and top-down approaches. Our researchers have lead thorough primary research as well as secondary research to authenticate the estimated size of the market for elevator and escalator. The data utilized to depict the shares for multiple segments at the national, regional, and global levels is mined from comprehensive interviews with various experts. Our analysts have also extracted information from funded databases, industry journals, SEC filings, and many other parallel resources.

Drivers and Restraints

Increasing Infrastructural Developments to Boost Market Growth

The incredible upsurge in infrastructural spending by developing countries is guessed to result in the expansion of the global market. Additionally, as per the statistics issued by UNCTAD Trade and Development, the infrastructure progression prominence of about 40 developing nations is documented to be on a greater side.

Therefore, the governments of these emerging countries are implementing progressive alterations in the development of numerous infrastructures such as dams, bridges, highways, ports, schools, and airports. This is expected to bolster the elevator and escalator market growth.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/elevator-and-escalator-market-100301

COVID-19 Impact

Sudden Shutdown of Production Facilities to Restrain Latent Market Improvements

The COVID-19 pandemic outbreak formed an unparalleled and complicated health emergency across the world as a security measure majority of the important countries enforced a stringent and exponential countrywide lockdown limiting the monetary happenings within the region.

Moreover, the unexpected termination had a hard-hitting influence in labor concentrated and extremely unstable construction sector, which also declined novel construction and reconstruction doings, hindering the sales and progressions of the market.

Regional Insights

Asia Pacific to Dominate Backed by Rising Development in India

Asia Pacific held the maximum elevator and escalator market share owing to the rising necessity for development from chief nations of this region, such as India as well as southeast Asia.

North America region documented a moderate pace of growth over the forecast period. The struggles made by the global producers to reinforce their occurrence in the regional market is a grave reason behind the prosperous market, particularly in the U.S.

In South America, the construction of low to midrise commercial developments, office structures, and residential infrastructure ventures are amplifying the necessity of elevator and escalator across the region of South America.

Competitive Landscape

Companies Enter Into Collaborative Contracts to Strengthen their Market Positions

The important players of the market are known to form vital tactics in order to preserve their domination over the market worldwide. The players, along with their professional consultants, apply strategies such as unveiling products, entering tactical contracts, engaging in collaborations, and many other things to thrust market growth and broaden their growth horizon throughout the market.

Industry Development

February 2020: Thyssenkrupp traded its elevator technology business to an association managed by Cinven, Advent, as well as RAG foundation.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/escalator-and-elevator-market-9727

 The global methanol market size is set to gain traction from the urgent need to lower environmental pollution caused by the surging usage of heavy fuels, such as diesel and gasoline. Pollution further leads to global warming and climate change. Statista mentioned that the earth’s surface temperature was 0.98 Celsius degrees warmer in 2020 than the 20^th Century average. This information is published by Fortune Business Insights™ in a report titled, “Methanol Market, 2021-2028.” As per the report, the market stood at USD 27.95 billion in 2020. It is projected to grow from USD 28.74 billion in 2021 to USD 39.18 billion in 2028 at a CAGR of 4.5% during the forecast period.

A list of renowned methyl alcohol manufacturers operating in the global market:

• Methanex Corporation (Canada)
• HELM AG (Germany)
• Southern Chemical Corporation (U.S.)
• SABIC (Saudi Arabia)
• Mitsubishi Gas Chemical Company, Inc. (Japan)
• Zagros Petroleum(Iran)
• PETRONAS (Malaysia)
• Mitsui & Co., Ltd. (Japan)
• Celanese Corporation (U.S.)
• BASF SE (Germany)
• Simalin Chemical Industries Pvt. Ltd. (India)

Report Coverage-

The research report studies decisive segments of the methyl alcohol industry containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. In addition to this, it will help our clients to accurately determine the market size to guide them in choosing the right segment for their business growth.

Drivers & Restraints-

Surging Usage as a Precursor in Plastics and Textiles to Bolster Growth

The high demand for the product from the construction and automotive industries is set to surge its usage across the globe. The chemical compound is often used in insulation materials, adhesives, textiles, and plastics as a precursor. However, the consumption of inhalation of this chemical can result in death, accumulation of acids in blood, and blindness. It may obstruct the methanol market growth in the near future.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/methanol-market-101552

COVID-19 Pandemic: Lower Demand for Paints and Adhesives to Hamper Growth

The outbreak of the COVID-19 pandemic has slowed down manufacturing activities worldwide. For instance, Methanex Corporation, a leading firm in the market, stopped activities in its plants with production capacities of 800 KT and 850 KT per annum in Chile and Trinidad, respectively. Besides, the lower demand for chemicals, paints, and adhesives derived from this compound is set to hamper growth amid the pandemic.

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Regional Insights-

Asia Pacific to Remain at Forefront Stoked by Expansion of Construction Industry

Geographically, in 2020, Asia Pacific held USD 17.60 billion in terms of revenue. It is set to be the major contributor to the growth of the industry because of the rapid expansion of the construction and automotive industries. In North America, on the other hand, the higher demand for this chemical compound from green fuel manufacturers would propel growth. Europe is likely to grow considerably on account of the expansion of the automotive industry.

Competitive Landscape-

Key Players Focus on Forming Joint Ventures with Others to Intensify Competition

The global market contains many companies, out of which, most of them are participating in acquisitions, mergers, and joint venture strategies. A few others are focusing more on expanding their production capacities to meet the high consumer demand. Below is one of the significant industry developments:

June 2018: Southern Chemical Corporation (SCC), Proman AG, and Helm AG formed a joint venture named Helm Proman Methanol AG to accelerate their methanol-based marketing activities. The newly formed company is headquartered in Switzerland. SCC will hold 5% share, while Proman AG will hold 38% and Helm AG will have 57% shares.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/global-methanol-market-10130

The global lithium mining market  size is set to gain impetus from the increasing electrification of trucks, buses, two-wheelers, and three-wheelers. The International Energy Agency’s Global EV Outlook 2020 stated that in 2019, around 2.6% of electric cars were sold worldwide. It showcased a surge of 40% compared to 2018. This information is given by Fortune Business Insights™ in a report titled, “Lithium Mining Market, 2021-2028.” As per the report, the market stood at USD 321.36 million in 2020. It is projected to grow from USD 343.22 million in 2021 to USD 516.22 million in 2028 at a CAGR of 6% during the forecast period.

A list of renowned lithium mining companies present in the global market:

• Jiangxi Ganfeng Lithium (China)
• Albemarle Corporation (U.S.)
• Tianqi Lithium (China)
• Sociedad Química y Minera (Chile)
• Mineral Resources Limited (Australia)
• Pilbara Minerals (Australia)
• FMC Corporation (US.)
• Nemaska Lithium Inc. (Canada)
• MGX Minerals Inc. (Canada)
• Orocobre Limited Pty Ltd (Australia)
• Nordic Mining ASA (Norway)
• Wealth Minerals Limited (Canada)
• Galaxy Resources Limited (Australia)
• Lithium Americas Corp. (Canada)

Report Coverage-

The report studies decisive segments of the industry containing regions, end-users, technologies, types, and applications. It explains the performance and importance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. Additionally, it would help our clients to accurately determine the market size to guide them in selecting the right strategy for their business growth.

Drivers & Restraints-

Increasing Development of Energy-efficient Mining Techniques to Boost Growth

The rising technological investments in mining and metallurgy are set to propel lithium production across the globe. Also, ongoing research activities are leading to the development of new energy-efficient techniques to conduct lithium mining. Most of these techniques, such as direct lithium extraction, utilize organic sieves by replacing vast evaporation ponds, thereby making it a sustainable practice. However, mining practices often cause water scarcity by affecting the quality of groundwater. It may hinder the lithium mining market growth in the near future.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/lithium-mining-market-105575

Country Insights-

Rising Awareness of Environmentally Friendly Electric Vehicles to Help Australia Dominate

Australia is in the leading position, and it procured USD 110.40 million in 2020 in terms of revenue. This growth is attributable to the surging awareness among people regarding the usage of eco-friendly electric vehicles in the country.

The spurring number of brine mining activities is estimated to help Chile remain in the second position throughout the forthcoming years in the lithium mining industry.

Brazil, Argentina, and Bolivia are set to grow steadily on account of the increasing investments in mining activities as these countries own several lithium reserves.  

Competitive Landscape-

Key Players Focus on Development of Innovative Technologies to Intensify Competition

The global market for lithium mining contains a large number of companies that are currently focusing on R&D activities to unveil cutting-edge mining technologies. These are helping them to gain a competitive edge. Below are the two crucial industry developments:

April 2021: QMC Quantum Minerals bagged the permit to accelerate the 2021 work program, mainly for its Irgon Lithium Mine Project in Canada. It would enable the company to conduct channel and surface sampling and prospecting and stripping of overburden.

April 2020: A team of researchers from the University of Texas at Austin, the University of Melbourne, Australia’s national science agency CSIRO, and Monash University successfully created a novel filtering technology for extracting lithium-ions from brine.

 The global connected car market size is projected to reach USD 191.83 billion by 2028, exhibiting a CAGR of 18.1% during the forecast period. Emergence of automotive electronic startups will enable this market to reach greater heights in the coming years, postulates Fortune Business Insights™ in its report, titled “Connected Car Market, 2021-2028”. The market size stood at USD 55.56 billion in 2020.

Wireless connectivity systems in cars are a trend that is gaining considerable traction in the automotive industry. Recognizing the potential offered by these changing dynamics, several startups specializing in automotive electronics and communications have come up and are advancing connected car technologies.

List of Key Companies Profiled in the Connected Car Market Report:

• Volvo (Gothenburg, Sweden)
• Ford Motor Company (Michigan, United States)
• TomTom Inc. (Amsterdam, Netherlands)
• Daimler AG  (Stuttgart, Germany)
• AT&T (Texas, United States)
• Harman International (Connecticut, United States)
• HYUNDAI MOTOR GROUP (Seoul, South Korea)
• General Motors (Michigan, United States)
• Audi (Ingolstadt, Germany)
• Robert Bosch GmbH (Gerlingen, Germany)
• Continental AG (Hanover, Germany)

The main features of the report include:

• Tangible analysis of the various market drivers, trends, and restraints;
• Holistic evaluation of the regional prospects of the market;
• Microscopic study of all market segments; and
• In-depth examination and profiling of the prominent players and their strategies.

Driving Factor

Rising Number of Road Accidents Worldwide to Accelerate Growth

One of the leading factors propelling the connected car market growth is the rising number of road traffic accidents around the globe. According to the World Health Organization (WHO), road traffic crashes kill approximately 1.35 million people worldwide every year. Furthermore, between 20 million and 50 million people suffer non-fatal injuries from road accidents, with several accident victims getting afflicted with a temporary or permanent disability. The most common causes of road accidents, the WHO highlights, include driving under influence, speeding, distracted driving, and unsafe vehicles. Connected cars have the potential to address all these issues as these vehicles operate on real-time data acquired from various sensors attached to the cars. For example, IoT-enabled cars gather real-time traffic and crash data, alerting drivers to changes in surrounding traffic conditions, road hazards, and upcoming obstructions such as pedestrians and cyclists. Smart technologies enhance the safety quotient of a vehicle and can thus reduce the probability of road accidents.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/connected-car-market-101606

COVID-19 Impact

The sudden explosion of the COVID-19 pandemic has created unprecedented turmoil across all economic systems around the globe, aggravating the already widespread uncertainty in the business world. Worldwide, governments have been taking emergency measures to wade their economies out of this crisis. Private sector entities are also exploring alternatives to survive these challenging times. At Fortune Business Insights™, we are taking solid efforts to gain market intelligence and equip you with updated information to aid your fight against this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.

Regional Insights

Growing Demand for Advanced Automotive Technologies to Boost the Asia Pacific Market

Asia Pacific dominated the connected car market share in 2020 with a market size of USD 32.90 billion on account of the rising preference for high-end, advanced automotive technologies in the region. This evolving dimension in the automotive industry in Asia Pacific is underpinned by the increasing level of disposable incomes among buyers, which is enabling them to demand enhanced safety and infotainment features in cars. In Europe, major automakers such as BMW and Volkswagen are partnering with automotive technology specialists to equip their cars with sophisticated safety features. The market in North America, on the other hand, is set to benefit from the rapid adoption of next-gen connectivity technologies such as 5G by carmakers in the region.

Competitive Landscape

Key Players to Deepen Footprint in Emerging Markets

The demand for premium cars and vehicular components is escalating in the emerging market of Asia and Africa. Acknowledging the huge business scope offered by the countries in these regions, automotive giants are steadily deepening their presence in these countries by launching innovative solutions.

Industry Developments:

February 2020: Ford India introduced the FordPass^TM, its comprehensive mobile connectivity solution that enables owners to remotely access their cars, call for breakdown assistance, and perform many such functions, in India. All BS-VI Ford cars will have a cloud-based device that connects the car with the FordPass app.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/connected-cars-market-9347

 The global garbage truck bodies market size is expected to experience significant growth by reaching USD 29.98 billion by 2028 while exhibiting a CAGR of 8.9% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Garbage Truck Bodies Market, 2021-2028.” The report further mentions that the market stood at USD 15.13 billion in 2020. The rapid-paced industrialization and urbanization, coupled with the growing population rate worldwide has led to a high demand for effective waste management solutions.

List of the Companies Operating in the Global Market Garbage Truck Bodies:

• Fujian Longma Environmental Sanitation Equipment Co., Ltd (Longyan, China)
• McNeilus Truck and Manufacturing (Minnesota, U.S.)
• Haul-All Equipment Ltd. (Alberta, Canada)
• New Way (Iowa, U.S.)
• Heil (Tennessee, U.S.)
• Labrie Enviroquip Group (Quebec, Canada)
• DENNIS EAGLE LTD (Warwick, UK)
• BYD Company Ltd. (Shenzhen, China)
• Curbtender Sweepers, LLC (Iowa, U.S.)

REPORT COVERAGE

The market report for garbage truck bodies provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. The report further provides insights into the regional analysis covering different regions, contributing to the market growth. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point analysis to obtain information about the current trends and industry developments that will drive the market growth between 2021 and 2028.

DRIVING FACTORS

Increasing Focus on Truck Connectivity to Propel Market Growth

Several waste management companies are focusing on upgrading their large fleet of garbage trucks to provide efficient remote management and monitoring of waste management processes. These companies are adopting advanced connectivity solutions to collect data in order to observe the performance of the vehicles and improve their overall productivity. For instance, the Detroit Connect virtual technician is a type of remote diagnostic application consisting of a standard Detroit DD8 engine placed in Freightliner EcpnicSD. This remote application keeps a tab on the vehicle performance and shares vital insights with the fleet managers. Therefore, such initiatives are expected to boost the global garbage truck bodies market growth in the forthcoming years.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/garbage-truck-bodies-market-103323

COVID-19 IMPACT

The COVID-19 pandemic has resulted in several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies globally, several manufacturing facilities have been at a standstill with limited operational activities. However, a collective effort from the government and the industries to bring the economy back is expected to boost the market growth during the forecast period.

REGIONAL INSIGHTS

North America – The market in the region stood at USD 5.95 billion in 2020 and is expected to showcase exponential growth in the forthcoming years. This is owing to the presence of established manufacturers and the high adoption of electric refuse vehicles for proper waste management in countries such as the U.S. For instance, the sanitation department of Los Angeles announced their decision regarding the transition of their fleet of 1,100 garbage trucks to battery-electric by 2035.

Asia-Pacific – The market in the region is expected to showcase significant growth during the forecast period. This is attributable to the increasing awareness regarding sanitation and solid waste generation management that will propel the demand for advanced garbage truck bodies in the region.

COMPETITIVE LANDSCAPE

Acquisition by Major Companies to Strengthen Their Market Positions

The market comprises small, medium, and large companies striving to maintain their presence. The large companies are focusing on acquiring other small companies to expand their garbage truck bodies portfolio. Moreover, other key players are adopting strategies such as merger and acquisition, the introduction of new products, partnership, and facility expansion that will favor the growth of the market in the forthcoming years.

INDUSTRY DEVELOPMENT

·   January 2020 – Heil, a part of Dover Corporation and Environmental Solutions Group (ESG), acquired Sunbelt Waste Equipment, LLC. The development is perceived as a strategic move to expand and strengthen its nationwide dealer network.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/global-garbage-truck-bodies-market-10126

 The global glycerine market size is expected to reach USD 2.53 billion by 2028, exhibiting a CAGR of 5.3% during the forecast period. The increasing demand for bio-based fuels, such as biodiesel backed by rapid industrialization and urbanization, will aid the expansion of the glycerin market. This information is given by Fortune Business Insights™ in a report titled, “Glycerine Market, 2021-2028.” The report further states that the glycerine market size was USD 1.68 billion in 2020.

A list of all the renowned glycerine producers operating in the global market:

• Wilmar International (Singapore)
• Emery Oleochemicals (Malaysia)
• IOI Group (Malaysia)
• KLK OLEO (Malaysia) 
• Croda International (U.K.)
• Kao Corporation (Japan) 
• Cargill Inc. (U.S.)
• Godrej Industries (India)
• P&G Chemicals (U.S.)
• Cremer Oleo GmbH & Co. Kg (Germany)
• Groupe Avril (France)
• GLACONCHEMIE (Germany)
• Granol (Brazil)
• Timur Oleochemicals (Malaysia)
• Sakamoto Yakuhin Kogyo Co., Ltd. (Japan)

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How Was This Report Developed?

Our highly skilled analysts have conducted extensive primary and secondary research to create this special report containing COVID-19 impact. Through desk research, they came up with relevant qualitative and quantitative data associated with research objectives. They have analyzed the data sourced through primary research, thereby building recommendations and conclusions. The secondary research includes Porter’s Five Forces analysis to gain insights into the bargaining power of every link present in the value chain.

Drivers & Restraints-

Rising Adoption of Natural & Organic Ingredients by Cosmetics Firms to Aid Growth

The rising inclination of consumers towards natural personal care and cosmetics products is set to propel the glycerine market growth in the coming years. This is mainly occurring because of the increasing awareness programs among the masses regarding the harmful effects of chemical ingredients. Hence, multiple reputed cosmetic manufacturers, such as L’Oréal, P&G, Unilever, and Johnson & Johnson, are extensively using natural and organic ingredients to cater to the high demand. However, as glycerine is obtained during the biodiesel manufacturing process as a by-product, refiners are facing challenges in terms of profit margins and production owing to the fluctuations in prices. It may hinder growth.

Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/glycerine-market-102168

COVID-19 Pandemic: Rising Demand for Hand Sanitizers to Accelerate Growth

The emergence of the COVID-19 pandemic has surged the demand for hand sanitizers exponentially. Glycerin is mainly used in small proportions to manufacture hand rubs and sanitizers. The World Health Organization (WHO), for instance, released its ethanol-based hand rub formulation containing 1.45% glycerol to protect healthcare workers’ skin against dermatitis and dryness. We are providing in-depth reports to help you better understand the current situation.  

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

Regional Analysis-

Expansion of Personal Care Industry to Propel Growth in Asia Pacific

Geographically, Asia Pacific held USD 0.73 billion in terms of revenue in 2020, on account of the presence of some of the top companies in Japan, India, Indonesia, and Malaysia. China is set to dominate the regional market because of the expansion of the chemical, food, and personal care industry in the country. The USP grade segment accounted for a 49.7% share in China.

Europe, on the other hand, is a key producer of glycerol and biodiesel worldwide. The rising production of biodiesel stoked by the increasing demand from various European countries would accelerate growth. Besides, the high demand for glycerine from the personal care and chemical industries in the U.S. will drive growth in North America.

Competitive Landscape-

Key Players Focus on Expanding Their Production Capacities to Intensify Competition

The market houses a large number of prominent manufacturers that are mainly focusing on expanding their production capacities to fulfill the high demand. Some of the others are using glycerine in the manufacturing of hand sanitizers to tackle the growing demand amid the COVID-19 pandemic. Below are the two latest industry developments:

• July 2020: Versalis, a wholly-owned subsidiary of Eni, started producing a new range of liquid hand disinfectants to meet the rising demand amid the COVID-19 pandemic. It will be marketed under the name ‘Invix.’ It was developed on the basis of the World Health Organization’s formulation. It contains glycerine as an emollient.
• September 2019: Emery Oleochemicals announced its investment in its Technical Development Center (TDC) in Germany to cater to the increasing demand. Every product is tested here. Also, the beneficial effect of additives is improved and adjusted. This new investment will strengthen the company’s position in the market.

Read Press Release: https://www.fortunebusinessinsights.com/press-release/global-glycerine-market-10439