Research Industry Expert
posted a blog.
The global construction market size is a decline from USD 11,217.4 billion in 2019 to USD 10,741.2 billion in 2020. However, the industry showed signs of recovery since the beginning of 2021 and is expected to reach a market size of USD 13,572.4 billion in 2024, projecting a CAGR of 6.0% between 2020 and 2024.
Browse 43 market data Tables and 14 Figures spread through 84 Pages and in-depth TOC on "Impact of COVID-19 on Construction Industry Market by Type (Residential, Non-Residential, and Heavy & Civil Engineering) and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2024 "
Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=65270035
Drivers: Increasing automation in public spaces and rising awareness about antibacterial construction materials
The public spaces will move toward more automation to contain the spread of COVID-19. Designers will increasingly prefer antibacterial fabrics and finishes, including those already existing, like copper, and will inevitably be developed. Certain construction elements, which are already standard in health care, may find application in other public spaces, such as reducing the number of flat surfaces where germs can spread and installing ventilation systems that help remove potentially contaminated air from any given area. Health care design, too, will very likely get an upgrade in the near future. While social distancing would seem necessary, it is reasonable to expect that concerns about possible future virus outbreaks might encourage architects to design with an eye on open spaces that enable and encourage people to spread out.
Restraints: Volatility in raw material prices
Raw material and energy used in different types of construction have volatile prices and are set to continue in the forecast period. Sudden increase or price decrease affects the end project cost and profit margin of manufacturers and contractors. The primary raw materials used in the construction industry are cement, aggregates, sand, steel, aluminum, wood, glass, flooring materials, wall materials, and cladding materials. Volatility in the prices of energy and crude oil used for manufacturing and transporting these materials is the leading cause of fluctuations in the prices of these raw materials. These fluctuations, in turn, results in the volatility of prices of finished buildings. The instability of petroleum and crude oil costs may cause the price of raw materials to rise and increase the cost of raw materials used in precast concrete. Hence, the prices of these materials have a direct impact on the cost of precast concrete. Furthermore, with an increase in the cost of raw materials, vendors increase the price of their products or reduce their profit margins, which will have an adverse effect on the market growth.
Get 10% Free Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=65270035
Residential is the major segment of the construction industry.
Globally, construction is more than USD 11 trillion industry, of which residential construction is the largest sector. The occurrence of COVID-19 has caused disruption in the residential construction sector. The main disruption is in the supply chain. The transformation of COVID-19 from a China-centric challenge to a global pandemic has resulted in shifting the impact to the global construction supply chains and markets.
The ongoing pandemic has created a number of challenges not only for the construction industry but also disrupted the global economy. The global crisis, duration of the recession, and path of recovery will largely determine the nature and severity of these challenges. The construction industry, particularly the new residential segment, was performing well and witnessing a surge in activity across many sectors in 2020. Owing to the rising number of cases in across the globe, many ongoing projects that were considered essential by the government authorities were not stopped, but new residential construction permits were suspended.
In the previous situation, the builders and contractors are struggling to obtain permits for both new and in-process construction projects. At present, both construction companies and workers are resuming their operations. However, new guidelines and regulations issued by the governments have created uncertainty and confusion for the companies as well as the laborers. Homeowners in regions with a high number of COVID-19 cases are limiting contractor access or entrance into homes and are preferring DIY projects as families are staying home.
Larsen & Toubro (L&T) is one of the leading construction contractors in the world. The company is a major technology, engineering, construction, manufacturing, and financial services conglomerate with operations all across the globe. It caters to industries, such as hydrocarbon, infrastructure, power, process industries, and defense. In 2021, L&T joined a national effort to overcome the oxygen shortage. L&T will soon start delivering 22 oxygen generators to various hospitals in India, where the scarcity is most acute. These units will absorb air from the atmosphere before converting it into medical-grade oxygen and pumping it into pre-existing pipes in hospitals.
Bechtel Group Established in 1898, Bechtel Group, Inc. provides engineering and construction services. It caters to industries such as infrastructure, oil & gas, and mining & metals worldwide. The company offers technology, procurement, and project management services. It is into designing and building roads, airports, nuclear power plants, communication networks, mines, pipelines, and oil & gas field development projects. The Bechtel Group Foundation donated USD 3 million to communities globally, coping with the coronavirus pandemic, in partnership with the crowdfunding nonprofit organization GlobalGiving. The newly established Bechtel COVID-19 Relief Fund has supported local nonprofit organizations that provide vital services in areas where Bechtel Corporation maintains offices and project sites.
Report More Information At https://www.marketsandmarkets.com/ResearchInsight/covid-19-impact-on-construction-market.asp
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact MarketsandMarkets™: Mr. Ashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441
Be the first person to like this.
Research Industry Expert
posted a blog.
The global ethylene carbonate market size is estimated to be valued at USD 290 million in 2021 and projected to reach USD 389 million by 2026, at a CAGR of 6.1%, during the same period. The demand for ethylene carbonate is driven mainly by its growing demand in lithium battery electrolyte and lubricant applications.
Oriental Union Chemical Corporation (Taiwan), Huntsman (US), BASF (Germany), Mitsubishi Chemical (Japan), and Toagosei Co., Ltd. (Japan), among others, are the leading ethylene carbonate manufacturers, globally. These companies have established their brands, and ethylene carbonate produced by these companies is consumed domestically. It is supplied further to various countries such as China, Japan, New Zealand, Australia, and others within the Asia Pacific region.
Solid form ethylene carbonate to dominate the global ethylene carbonate market during the forecast period
The ethylene carbonate industry has been segmented based on form into solid and liquid. The solid segment accounted for the larger share of the market in 2020. The growth in this segment is attributed to the increasing demand from various applications lubricants, plasticizers, solvents, chemical intermediates, among others. Ethylene carbonate in solid form is extensively used in these applications to cater end use industries sucha as automotive, medical, chemical, industrial, among others. These factors are expected to drive the demand for ethylene carbonates during the forecast period.
Lubricants to dominate the global ethylene carbonate market during the forecast period
The ethylene carbonate industry has been segmented based on application into lubricants, lithium battery electrolytes, plasticizers, surface coatings, and others. The lubricant segment accounted for the larger share of the market in 2020. The growth in this segment is attributed to the increasing demand from various end-use industries such as industrial and automotive. They are used in automotive engines as cooling and cleaning agents. These factors are expected to drive the demand for ethylene carbonates during the forecast period.
Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=229766138
Automotive end-use industry segment to dominate the global ethylene carbonate market during the forecast period
The market has been segmented based on the end-use industry into automotive, industrial, medical, oil & gas, personal care & hygiene, and others. The automotive segment accounted for the largest share of the market in 2020 and is expected to witness significant growth during the forecast period. The increase in this segment is attributed to different requirements by manufacturers, such as reduced emissions of volatile organic compounds (VOCs) and durable protective surface coating on vehicles. The motorization rate has increased over the last five years because of the rise in the disposable income of people and industrial growth across the globe. These factors are expected to drive demand during the forecast period.
COVID-19 Impact on the Global Ethylene Carbonate Market
Ethylene carbonate is primarily used as a raw material for the production of lubricants. It is also used as a solvent for many polymers, resins, plasticizers, and adhesives & sealants. It is also used as an electrolyte in various batteries such as lithium-ion batteries. Thus, the impact of COVID-19 on major end-use industries, such as plastics, battery manufacturing, and construction, is expected to directly impact the ethylene carbonate market.
Automotive is among the worst-hit industries due to the closure of showrooms and the global economic crisis. Consumers also are confined to their homes. The demand for personal cars and commercial vehicles has been drastically reduced due to economic turmoil. Consumers are also canceling already placed pre-orders. All these factors have a negative impact on the ethylene carbonate market.
The COVID-19 pandemic has disrupted the supply chain of the plastic industry globally. China plays an important role in the supply chain of the plastics industry. According to the Plastics Industry Association, in March 2020, 31% of plastic imports of the US are from China. Thus, the temporary shutdown of plastic factories in China during the first quarter of 2020 disrupted the cargo shipments of plastic products to the other countries in North America and Europe. According to the American Association of Port Authorities, cargo volumes of plastic resins and products at many US ports during the first quarter of 2020 were reduced by approximately 20% compared to 2019. However, the challenges in the supply chain of plastic products are being reduced now, as most of the plastic manufacturers are getting back to reach full capacity globally.
China is the leading manufacturer of batteries worldwide. However, it experienced a manufacturing slowdown from December 2019 due to the country's COVID-19 outbreak. Some of the world’s leading battery manufacturing companies, such as Contemporary Amperex Technology Co. Ltd. (CATL) and BYD Company Ltd., are based in China. The majority of factories were either closed or unable to attain their full production capacity due to a shortage of staff and raw materials. Supply lines have also been severed, thereby seriously affecting battery production as well as other businesses. Thus, due to the closure of various battery manufacturing facilities or the slow production rate even after the resumption of production, the constrained supply of batteries from China has the potential to severely impact the global electric vehicle market along with other energy storage projects and various electronic products. This, in turn, is anticipated to hit the ethylene carbonate market as ethylene carbonate is used as a battery electrolyte in various batteries.
Speak to our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=229766138
APAC is expected to account for the largest market size during the forecast period
APAC is the largest and fastest-growing ethylene carbonate market, owing to its increasing usage in various end-use industries, such as oil & gas, automotive, industrial, and medical. Furthermore, the growing population, rising disposable income, and economic growth in China and Taiwan are augmenting the market growth. These factors are expected to fuel the demand for ethylene carbonate in the region during the forecast period.
Huntsman accounted for the second-largest share in the market owing to the vast experience in the manufacturing of ethylene carbonate, broad product portfolio, huge production, sales, logistics, and technical service network. The company is highly focused on R&D and operates facilities in over 30 countries. It offers ethylene carbonate for various applications such as chemical intermediates, surface coatings, wood binder resins, lubricants, plasticizers, and electrolytes. The company is currently investing in advanced production technologies and carbonate derivatives to meet the customer’s demand. In Jan 2021, Huntsman Corporation announced the expansion of its partnership with distributor partner Azelis Americas CASE, LLC in the US and Azelis Canada, Inc. in Canada. This expansion agreement is expected to lead the distribution of the company’s business for Advanced Materials in the US and Canada.
Read More Insights At https://www.marketsandmarkets.com/ResearchInsight/ethylene-carbonate-market.asp
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact MarketsandMarkets™: Mr. Ashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441
Be the first person to like this.
Research Industry Expert
posted a blog.
The Paper Pigments Market is projected to grow from USD 13.52 billion in 2018 to USD 17.72 billion by 2023, at a CAGR of 5.6% from 2018 to 2023.
Browse 80 market data Tables and 36 Figures spread through 104 Pages and in-depth TOC on "Paper Pigments Market”.
Based on type, the paper pigments market has been segmented into calcium carbonate, kaolin, and others. Calcium carbonate is projected to be the largest and the fastest-growing type of paper pigment during the forecast period. The increasing demand for bright and bulk paper is leading to the increasing preference for the use of calcium carbonate over kaolin. Ground Calcium Carbonate (GCC) is the largest type of calcium carbonate paper pigment. It accounted for a share of 70.0% in the global calcium carbonate paper pigments market, in terms of volume, in 2017. The low cost and easy production process of GCC makes it the most widely used type. Precipitated Calcium Carbonate (PCC) is the fastest-growing market as it imparts very high brightness to the paper. Increasing demand for coated paper in future is expected to lead to the increasing penetration of PCC, leading to its high growth rate during the forecast period.
Do Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=254108036
Based on application, the paper pigments market has been segmented into coated and uncoated paper. Coated paper is projected to be the largest application of paper pigments during the forecast period. The need for superior quality paper is increasing, offering significant growth potential for coated papers. Moreover, the loading percentage of paper pigments in coating applications is increasing. The use of coated paper is also increasing due to growth of the packaging industry, and hence, is expected to register a higher growth rate. Uncoated paper is also a significant application of paper pigments owing to the high demand for paper pigments for newsprint, writing, and printing paper. Uncoated paper is also expected to witness significant demand in APAC owing to its low cost.
Coated Paper
Paper pigments provide a coating layer on paper which gives uniformity to the paper surface, makes paper whiter, improves opacity, provides the desired finish, imparts printing properties, and improves the shade of the coating. Coated paper has a matte or glossy finish with smoothness and shine. The coating allows the ink to get absorbed into the paper. This creates a cleaner and smoother printing surface, thereby improving the quality of photos and blends.
Modern coatings are composed of pigments, binders, additives, and fluid. The papers are subjected to sizing, coating, and calendering to impart adequate smoothness, brightness, gloss, opacity, ink, and receptivity. Coated paper exhibits resistance to dirt and moisture. It also requires less printing ink as it does not absorb the ink. Coated papers are much heavier than uncoated papers.
Uncoated Paper
Uncoated paper is more widely used than coated paper. It is less smooth than coated paper and absorbs more ink while printing an image. Uncoated paper is also less expensive than coated paper. It is mainly used for applications such as letterheads, envelopes, and forms used for writing and printing.
Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=254108036
Imerys is a major manufacturer of paper pigments. The company provides paper pigments under its energy solutions & specialties business segment which accounts for 29.0% of its revenue. Carbonates, a division of the energy solutions & specialties segment, accounts for 46.0% of the segment’s revenue. The company has established a strong foothold in the pigments market through investments & expansions, joint ventures, and mergers & acquisitions. In February 2018,
Imerys acquired the carbonate businesses of Vimal Microns and Vee Microns which are producers of calcium carbonate. This acquisition has strengthened the presence of the company in APAC. Similarly, in February 2014, Imerys acquired AMCOL International Corporation (US) for approximately USD 1.6 billion. This deal enabled Imerys increase its presence across 26 countries along with a strong footprint in the US.
Omya has majorly adopted investments & expansions and agreements, partnerships & joint ventures strategies to grow in the paper pigments market. In November 2017, Omya planned expansion in Western India at 2 sites, Surat and Taloja. This development is expected to help meet the demand for paper pigments in India. In May 2017, Omya and Ittihad Paper entered into an agreement to build a new Precipitated Calcium Carbonate (PPC) manufacturing plant in Abu Dhabi, UAE. Ittihad Paper is expected to produce high-quality printing and writing paper. This development helped the growth of both companies in the paper industry, thereby strengthening the foothold of Omya in the paper pigments market.
Read More Insights At https://www.marketsandmarkets.com/ResearchInsight/paper-pigment-market.asp
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact MarketsandMarkets™: Mr. Ashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441
Be the first person to like this.