Materials and Chemicals: Top 5 Emerging Markets in Q2’24 by Allied Market Research

The materials and chemicals industry is witnessing substantial transformation due to an increased focus on renewable resources and significant investments in the research and development of new materials such as bioplastics, biochar, and aerogel. Moreover, a major shift toward sustainability has initiated a new era in materials manufacturing. Startups are integrating various technologies to automate chemical manufacturing and enhance its sustainability.

Allied Market Research (AMR) has identified the top five emerging markets in the materials and chemicals sector for the second quarter of 2024, highlighting the most promising areas for growth and investment.

These markets have been identified and prioritized using AMR’s 'Title Matrix Tool,' which analyzes industries based on parameters set by research analysts and other collaborating teams. The reports are rated based on relevance and current importance, CAGR, ongoing events, key player significance, increasing client demand, market size, and additional factors.

Biochar market

Biochar contributes to sustainable soil health and fertility by improving soil pH, enhancing nutrient retention, and increasing moisture content. Heightened demand from the water treatment, agriculture, and building & construction industries highlights the importance of biochar materials. Moreover, the rising usage of biochar in animal feeding has fueled the growth of the biochar market. As per the report published by Allied Market Research, the industry is estimated to witness a notable CAGR of 13.1% by 2031. Moreover, the emerging applications of biochar and growth in CSR activities are projected to offer new opportunities for industrial expansion in the future.

The segmental analysis section of the research provides detailed information on segments and subsegments of the market. It further highlights the fastest growing and highest revenue generating segments within each category. For instance, by technology, the pyrolysis segment generated the highest market share in 2021 and is estimated to display the fastest CAGR of 13.3% by 2031. This segmental analysis is essential for stakeholders in making well-informed investment decisions.

Silicone Market

The research on the silicone industry is strategically important due to the rising adoption of waterborne coatings and surging demand from the construction and manufacturing sectors. Silicone is well-known for its unique blend of properties that make it incredibly versatile and valuable across numerous applications. One of its dynamic features is its exceptional resistance to high temperatures. The report by Allied Market Research on the silicone market states that the industry witnessed absolute revenue growth of $18.8 billion in 2022 and is anticipated to garner $39.4 billion during the forecast period.

The report by AMR on the silicone industry offers profiles of the key players such as Momentive, Elkem ASA, Shin-Etsu Chemical Co., Ltd., BASF SE, Wacker Chemie AG, Dow Inc., KANEKA CORPORATION, Evonik Industries AG, Arkema, and KCC Silicone Corporation. These companies are driving industry innovation and market expansion through their advanced product portfolios and strategic initiatives. Additionally, AMR has identified other significant players contributing to the market's competitiveness. This data on key players in the industry provides businesses with valuable insights for strategic decision-making.

Bioplastics market

The expanding applications of bioplastics across various industries and the rising adoption of biodegradable products are key drivers of growth in the bioplastics market. As per the report by AMR, the industry is estimated to cite a notable CAGR of 11.7% with an absolute revenue growth of $18.7 billion by 2031. Factors such as environmentally friendly characteristics, the availability of renewable feedstocks, and supportive government policies regarding sustainable product manufacturing highlight the importance of research on bioplastics.

The regional analysis of the bioplastics landscape assesses the market performance across key regions including North America, Asia-Pacific, Europe, and LAMEA. The study comprehensively analyzes major countries within these regions such as the US, Canada, the UK, Germany, France, India, Japan, China, and others. As per the regional study of the industry, the Asia-Pacific region is projected to showcase the fastest growth with a 12.6% CAGR. China is a key market for biodegradable plastics due to its ample bioplastics' feedstock resources. Rising oil prices and rapid shifts in climate patterns are driving governments, private enterprises, and consumers in the Asia-Pacific toward bioplastic product adoption.

Aerogel Market

The aerogel market witnessed an absolute revenue growth of $1.3 billion in 2022 and is projected to cite a noteworthy CAGR of 19.4% by 2032. The properties of aerogels such as high durability and protection from fire, lighter and thinner alternatives to conventional insulations, and superior thermal resistance drive the growth of the industry. Moreover, rising demand from the oil and gas industry and sustainability of aerogels are also contributing to the industry’s expansion.

Porter's Five Forces analysis of the industry highlights the importance of financial factors in shaping business growth strategies. It also emphasizes the significant role of suppliers and buyers in enabling stakeholders to fortify their supplier-buyer networks and make profit-oriented business decisions.

The research utilizes both primary and secondary methods to gather comprehensive information about the market. Primary market research involves gathering reliable and validated data directly from sources like customers in the target market through surveys or interviews. Secondary market research, on the other hand, takes in collecting information from previously published data compiled by international organizations, industry associations, government and research agencies, and other sources.

Aluminum market

Aluminum possesses several advantageous properties, including high conductivity, ease of recycling, and corrosion resistance, making it highly suitable for a wide range of applications such as packaging, household products, electronics, transportation, and more. It is a superior alternative to materials like steel and iron due to its greater strength and lighter weight. The study by AMR on the aluminum market indicates that the industry is anticipated to witness an absolute revenue growth of $258.3 billion by 2031.

The report offers a comprehensive segmentation of the aluminum industry based on end-users, processing methods, and series. This segmentation analysis enables stakeholders to discern primary investment areas and identify lucrative growth opportunities within each segment. It further offers the highest revenue generating and fastest growing segments among each category with their driving forces. For instance, based on series, the series 1 segment generated the largest market share in 2021 and is expected to showcase the fastest growth throughout the forecast timeframe. Series 1 aluminum is utilized in manufacturing various products including chemical equipment, drawn tubes, plates, sheets, and metal tableware such as creamers, coffee pots, sugar bowls, and other items.

A look at the evolving landscape of the materials and chemicals domain

Allied Market Research has identified the top 5 emerging markets in the materials & chemicals sector for Q2’24, which present a diverse range of opportunities for investors, innovators, and stakeholders. These markets offer significant growth potential and necessitate strategic research and analysis to capitalize on their opportunities. Conducting thorough research on emerging markets within the materials and chemicals sector is essential for businesses. It enables them to grasp market dynamics, formulate growth opportunities, and implement effective strategies necessary to sustain these rapidly evolving industries. For instance, research on the biochar market offers detailed information regarding biochar applications in various industries.

Summing up

To conclude, AMR reports offer a comprehensive market overview and delve into the minute details that impact the industry. The segmental and regional analyses provided in reports are essential for capturing the socioeconomic, demographic, cultural, and technological factors that continually shape the industry landscape. By focusing on these insights, businesses can identify key investment areas, design their strategies accordingly, and optimize their long-term profitability.

For detailed information on future projections and the outlook of the materials and chemicals domain, feel free to contact us!

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