Used Cooking Oil (UCO) Market 2021, Business Opportunities by leading Key players

 Global Used Cooking Oil (UCO) Market: Trending in 2021

The global used cooking oil (UCO) market size is anticipated to reach USD 773.5 Million by 2026, growing at a CAGR of 3.6% during the forecast period, according to a new research published by Polaris Market Research. The Report “Used Cooking Oil Market Share, Size, Trends, & Industry Analysis Report [By Source (Restaurants and Other Food Outlets, Household, Food Manufacturers, Caterers, Others) By Application (Biodiesel, Oleo Chemicals, Animal Feed, Others), By Regions]: Segments & Forecast, 2019 – 2026” provides a thorough and detailed analysis with an overview of present trends and future insights. In 2018, the biodiesel segment accounted for the highest share in this market in terms of revenue. Europe is expected to be the leading contributor to the market revenue in 2018.

 

Increasing urbanization and industrialization coupled with growing demand for biofuels majorly drives the UCO market growth. The increasing population, and rising awareness regarding use of renewable resources further support the growth of this market. Increasing demand for sustainable energy solutions, and environmental awareness boosts the market growth. The growth in the global food and beverage industry, and significant increase in restaurants and food outlets also accelerate the development of the used cooking oil market. Increasing use as additive in animal feed, rising focus on improving animal health, accelerating demand from emerging countries, and growing initiatives to promote sustainable energy sources are expected to provide growth opportunities in the used cooking oil industry during the forecast period.

 

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Europe generated the highest market share in terms of revenue in the global used cooking oil industry in 2018, and is expected to lead the market throughout the forecast period. The growing population, urbanization, and industrialization increase the demand for used cooking oil in the region. The rising environmental concerns, and favorable government regulations is generating numerous opportunities for the used cooking oil industry in the region. Increasing demand for biodiesel, and growing awareness regarding animal health also boosts market growth in Europe.

 

The well-known companies profiled in the UCO market report include Greenergy International Ltd, Baker Commodities Inc., Darling Ingredients, Proper Oils, Uptown Biodiesel Limited, Argent Energy, Devon Biofuels, Brocklesby Ltd, Biomotive Fuel Ltd., and Lywood Consulting. These companies are consistently launching new products to enhance their offerings in the global used cooking oil industry. With the advancement of technologies, companies are innovating and introducing new customized solutions to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

 

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Polaris Market Research has segmented the global used cooking oil (UCO) market on the basis of Source, Applications and Region:

 

Used Cooking Oil Source Outlook (Revenue, USD Million, 2015 – 2026)

• Restaurants and Other Food Outlets
• Household
• Food Manufacturers
• Caterers
• Others

 Used Cooking Oil Application Outlook (Revenue, USD Million, 2015 – 2026)

• Bio-diesel
• Oleochemicals
• Animal feed
• Others

Used Cooking Oil Regional Outlook (Revenue, USD Million, 2015 – 2026)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
• Asia-Pacific
  • China
  • India
  • Japan
  • Singapore
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa

 

Carbon Capture and Storage Market 2021, Business Opportunities by leading Key players

 Global Carbon Capture and Storage Market: Trending in 2021 

 

The global carbon capture and storage market size is expected to reach USD 10.45 billion by 2026 according to a new study by Polaris Market Research. The report “Carbon Capture and Storage Market Share, Size, Trends, Industry Analysis Report By Capture Type (Pre-Combustion, Industrial Separation, Oxy-Fuel Combustion, Post-Combustion); Application (Enhanced Hydrocarbon Recovery Process (EOR), Industrial, Agriculture); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Carbon capture and storage constitute a series of technologies that facilitate the isolation of mainly carbon dioxide from fossil fuels, manufacturing & process waste streams. This is followed by compression, transportation and injection into permanent geological storage. The compressed carbon dioxide is transported through ships or pipeline to the geological formation sites. It is permanently stored in the deep underground geological formations, which may be onshore or offshore. Currently much of the R&D effort is aimed at reducing the energy losses due to capture in the various process steps but one of the greatest improvements to the overall IGCC technology is the development of high firing temperature larger gas turbines of higher efficiency.

 

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The global CCS market is at emerging stage despite of the increasing amount of carbon dioxide emitted every year. It is estimated that there are more than 22 CCS projects globally with more than 16 projects kicking-off during the coming years. The major reason for slow growth in the scenario of new projects is majorly due to complex and stringent government regulations and slow economic growth majorly in the European region. Some of the main factors that are crucial for the rapid development of the CCS industry over the forecast period include increase of financial support for demonstration and early deployment of CCS to drive private financing of projects and to prove capture systems at pilot scale in industrial applications where CO2 capture has not yet been demonstrated. Efforts to reduce the cost of electricity from power plants equipped with capture through continued technology development and use of highest possible efficiency power generation cycles. Development of efficient CO2 transport infrastructure by anticipating locations of future demand centers and future volumes of CO2 are some of the other prominent issues that need to be focused on for significant market growth over the forecast period.

 

The cost of carbon capture and storage vary widely. It depends on the capturing technology whether it is to be added to an existing plant as a retrofit or built into a new plant, on the type of power plant. It also depends on the time when the carbon is being captured such as post-combustion, pre-combustion or oxy-fuel in which coal is burned in pure oxygen rather than air to produce pure CO2 emissions, on the type of CO2 transport such as pipeline and on the type of storage such as porous underground saltwater formations, EOR projects, depleted oil and gas reservoirs and coal seams. The cost of the CCS technology along with new plant set up is very high which may not prove to be a viable solution for many industry players and even countries globally. Therefore, the high cost of CCS is expected to restraint the market in the near future. Furthermore, patent expiry of major blockbuster agents and expected launch of generic version are likely to restrain the growth of the market during the forecast period.

 

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The global market is dominated by North America as this region has a perfectly framed regulatory framework. . The government is actively promoting the deployment of emission technologies across the country along with extensive use of EOR methods will complement the industry landscape. In addition, the U.S. introduced the Section 45Q tax credit for the carbon capture projects providing a fundamental policy for increasing the installation of CCS projects. Furthermore, the EU considers the technology crucial to hit its climate goals, which will require the union’s member states to reach net-zero emissions within decades.

 

European Court of Auditors stated that the EU spent more than €424 million ($486 million) over the past decade fruitlessly trying to establish carbon-capture technology. However, the Asia Pacific countries are anticipated to witness the fastest growth over the forecast period for this market with the presence of several high economically growing countries. The emerging economies in the region such as China and India along with countries such as Japan, Indonesia and Malaysia are focusing on cleaner environment owing to rapid industrialization in the region, thereby, leading to increased carbon emissions. Furthermore, Middle East and Latin America are also expected to witness significant growth over the forecast period.

 

The key players in the market include Shell CANSOLV, AkerSolutions, Statoil, Dakota Gasification Company, Linde, Siemens AG, Fluor, Sulzer, Mitsubishi Heavy Industries, Maersk Oil, Japan CCS Co., Ltd., and HTC CO2 Systems Corp.  among others.

 

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Commercial Aircraft Aftermarket Parts Market 2021, Business Opportunities by leading Key players

 Global Commercial Aircraft Aftermarket Parts Market Trending in 2021

According to a new study published by Polaris Market Research the worldwide commercial kitchen appliances market is anticipated to reach USD 138.5 billion by 2026. In 2017, the refrigerator segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

 

The significant increase in food establishments, and the growing tourism industry are the major factors driving the growth of this market. The changing lifestyles and hectic schedules of the working professionals are leading to higher instances of dining at restaurants and other food establishments.  Rising disposable income is one of the factors responsible for the growth of the market.

 

Restaurants are increasingly adopting technologically advanced kitchen appliances to simplify kitchen activities and offer enhanced services to consumers. Restaurant businesses prefer compact and space efficient appliances, which encourages market players to launch new products in the global market. Increasing spending on the hospitality sector, and tourism activities encourage restaurant owners to improve their infrastructure and offer enhanced services. The market is also driven by increasing need to use kitchen appliances that consume less energy and provide faster kitchen services. Growing concerns regarding environment and increasing adoption of energy efficient kitchen appliances are expected to offer numerous growth opportunities in the future. However, high costs associated with commercial kitchen appliances, high installation prices, and strict regulations on production of commercial cooking appliances restrict the growth of the market.

 

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Increasing disposable income coupled with rise in number of working class population has changed the lifestyle pattern of consumers. The commercial kitchen appliances market has witnessed considerable growth in the recent years due to improved lifestyle, changing consumption patterns of people and rising number of social events. The disposable income of people in the developing countries has increased owing to the improving economic conditions in these regions. High disposable income increases the spending capacity of consumers encouraging them to dine at restaurants and attend social events.  These factors support the growth of the global commercial kitchen appliances market.

 

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high living standards along with high disposable income in the region drive the market growth. Other factors supporting market growth in North America include different eating habits, increasing popularity of different cuisines, and a multi-cultural environment. Asia-Pacific is expected to grow at a significant rate during the forecast period owing to the increasing population and improving living standards.

 

The different types of commercial kitchen appliances include cooking appliances, refrigerators, dishwashers, and others. In 2017, refrigerators accounted for the highest market share owing to increasing need to conserve edible items at a range of different temperatures. Restaurants are increasingly adopting technologically advanced refrigerators to meet high storage demands and to offer fresh & high quality food. Food establishments are also inclined towards using energy efficient refrigerators owing to growing environmental concerns.

 

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The well-known companies profiled in the report include Meiko International, AB Electrolux, Hobart Corporation, Fujimak Corporation, Duke Manufacturing Co. Inc., Ali Group Company, Hoshizaki Corporation, Fagor Industrial, Rational AG, Carrier Corporation among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

Multiparameter Patient Monitoring Market Recent Developments, Emerging Trends and Business Outlook

 The global multiparameter patient monitoring market size was earmarked at USD 4,016.0 million by 2026 and is expected to grow at 4.2% CAGR during forecast period according to a study published by Polaris Market Research. 

The prevalence of chronic diseases such as cancer and diabetes in developed and developing regions was prime driver to growth of multiparameter patient monitoring system. Figures of roughly 18 million new cancer-stricken cases in 2018 have been diagnosed. Furthermore, endocrine diseases such as diabetes and hyperthyroidism have been infecting people in emerging economies that lead to chronic conditions requiring governance of vital parameters. Geriatric population is also liable to succumb to diseases such as cancer and diabetes and that portends favorable factors for market growth.

Emerging economies such as India and China are having deep know how of technologically advanced monitoring devices that boosts industry growth in near future. Furthermore, Government has initiated many steps to bring about awareness among doctors relating to efficacy of devices that helps speedy recovery of patients.

 

Developing economies do not adhere to high market-price because of price-sensitivity; thus reviving growth in market. Howsoever a stringent regulatory scenario may lower growth in market for the devices.

 

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Portable monitors have made life easy for patients and doctors as well, by helping monitor patient recovery more accurately. The monitors can be set up at home or in hospital. These are driving factors for multiparameter patient monitoring devices market.

 

Fixed patient recovery monitor segment will respond to high growth to order of 4%. Players such as GE Healthcare and Medtronic possess high-caliber instruments that enable accuracy on various parameters such as ECG, IBP and many more.

 

The high acuity monitor system will remain adopted at hospitals and clinics because of its integration with advanced technology. Low acuity monitor system will also scale market highs with low cost of device attributed for the good performance.   

 

Geriatric population has found upbeat market figures in multiparameter patient monitoring market with elderly and convalescing patients finding it difficult to ward off the onset of chronic diseases; hence requiring monitoring at every step. This boosts market very convincingly.

 

North America currently dominates market with high awareness and a positive regulatory scenario working in its favor. Favorable market dynamics that makes available superior quality monitors impacts industry growth favorably.

 

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India also posts encouraging figures for mutiparameter devices market that has high demand in intensive care units. The elderly population suffering from chronic disease will add impetus to substantial market growth.

Automotive Robotics Market Recent Developments, Emerging Trends and Business Outlook

 Automotive Robotics Market 2021 Business Opportunities 

The Automotive Robotics Market is anticipated to reach over USD 14,170 million by 2026 according to a new research published by Polaris Market Research. In 2017, the articulated robots dominated the global automotive robotics market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global automotive robotics market revenue in 2017.

 

There has been an increase in the demand of automotive robotics across the world owing to greater need for automation of manufacturing processes. With the increasing use of collaborative robots in automotive applications, the overall demand for robotics to also influence the automotive robotics market growth. Automotive robots are being adopted by small and medium sized organizations at a huge pace for automation of manufacturing processes.

 

Market players are introducing application specific robots to meet the growing needs of the automotive industry. Growing need for automation and increasing labor costs further fuels the automotive robotics market growth. In addition, availability of affordable, high quality customized robotics solutions for diverse applications in the automotive industry stimulates the market growth.

 

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With international labor safety standards becoming more stringent, robots are being employed in hazardous environments in place of humans. Robots find application in situations that are dangerous and unsafe for human beings to work, such as working in irregular terrains and handling hazardous substances. Robots enable organizations to avoid risks and reduce the number of work accidents. This factor leads to greater adoption of robotics solutions in the global automotive industry.

 

Owing to stiff competition in the global automotive market, players are introducing low-cost and high quality robots to meet consumer demands. The advancements in technology enable developers to design new innovative products while maintaining the affordability of the product. The recently developed robots are energy efficient and designed to serve specific applications in the automotive industry. Acceptance of such robots by small and medium businesses has increased owing to its low cost and increased flexibility.

 

Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. Growing demand from automotive industry for high quality products, along with increasing labor costs encourages companies to invest in automotive robotics. With intense competition in the automotive industry, companies are setting up manufacturing facilities in these countries for timely deliveries of products to their customers. High demand of robots from Japan and South Korea would help in the growth of the automotive robotics market in the region. Other factors driving this market include rapid industrialization and increasing need for automation in manufacturing processes.

 

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The key players operating in the market include Fanuc Corporation, Rockwell Automation, Inc., ABB Ltd., Kawasaki Heavy Industries, Kuka AG, Denso Corporation, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Nachi-Fujikoshi Corporation, DiFacto Robotics and Automation Pvt. Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

Automotive ECU Market Growth Challenges, Industry Analysis and Forecasts

 Automotive ECU Market 2021 Business Opportunities 

The global Automotive ECU Market is anticipated to reach around USD 67.7 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the passenger vehicles segment dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global Automotive ECU market.

 

The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the market growth. The adoption of electric vehicles has increased significantly owing to stringent government regulations regarding vehicular emissions, thereby supporting market growth. Other factors driving the market growth include growing demand of ADAS systems, technological advancements, and modernization of vehicles. New emerging markets, emerging consumer demographics, and increasing demand of vehicles would provide growth opportunities for automotive ECU market in the coming years.

 

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Market players operating in the global automotive ECU market are investing significantly in research and development and technological innovation to develop advanced products to meet the growing consumer demands. The development of autonomous vehicles is significantly increasing the demand for automotive ECU. Electric vehicles are increasingly being adopted worldwide owing to stringent regulations regarding vehicular emissions.

 

In 2017, Asia-Pacific accounted for the highest share in the global automotive ECU market. The primary factors driving the automotive ECU market growth in the region include established automotive industry, technological advancements, and high investment in R&D. The introduction of stringent government regulations regarding vehicular safety and emissions accelerates the adoption of automotive ECU in the region. The economic growth in countries such as China, Japan, and India, increasing development of autonomous vehicles, and growing automotive modernization further increases the demand of automotive ECU in the region.

 

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The well-known companies profiled in the report include Denso Corporation, Lear Corporation, Continental AG, Delphi Automotive PLC, Hella KGaA Hueck & Co., ZF Friedrichshafen AG, Robert Bosch GmbH, Autoliv Inc, Hitachi Automotive Systems, Ltd., and Infineon Technologies AG. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

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Agricultural Robots Market Recent Developments, Emerging Trends and Business Outlook

 Agricultural Robots Market 2021 Business Opportunities

 

The global Agricultural Robots market is anticipated to reach around USD 19,378.5 million by 2026 according to a new research published by Polaris Market Research. In 2017, the milking robots segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market in 2017.

 

There has been an increasing adoption of agricultural robots across the world owing to growing agricultural industry, and high-demand for food crops. The growing population, and increasing automation of farm operations further supports the Agricultural Robots market growth. The global agricultural robots market is driven by the increasing need to improve the quality of crops produced, maximize crop production, and enhance productivity. Other factors driving the growth of this market include growth in the global agricultural industry, reducing availability of labors, and increasing labor costs. Increasing need of agricultural robots in farming, dairy production, and green plantation operations has created the need to develop new innovative products for diversified application areas in these sectors. However, high initial investment restricts the growth of the agricultural robots market. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities during the forecast period.

 

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The leading players in the Agricultural Robots market are introducing advanced products to cater to the growing demand of consumers. Agrobot SW 6010 is a harvester robot used for fruit picking and sorting. The Hortibot is a self-propelled robotic system, which works in coordination with global positioning system (GPS) system and can be managed by smartphone application. It has the capability to recognize and cut 25 various types of weeds. Asterix Project, a robot by Adigo is used for spraying herbicides in fields.

 

The North America Agricultural Robots Market generated the highest revenue in the market in 2017. The increasing population, and growing demand for high quality crops drives the growth of this market. Growing cost of labor, and increasing automation in agricultural practices further support market growth. Increasing investments and subsidies in the agriculture sector by governments are expected to boost the adoption of robots for increased productivity in farms. Increasing need to improve food quality and productivity along with increased industrialization and automation of farming equipment further supplements the growth of Agricultural Robots Market.

 

The different types of agricultural robots include milking robots, harvesting robots, drones, driverless tractors, and others. In 2017, milking robots accounted for the largest share in the global market. Milking robots are used as an automated milking system in the dairy sector. Lely Astronaut A4 milking machine by Lely is one of the popular products available in the market for milking applications. An innovative product available in this category is Voyager robotic fencer, which is developed by Lely. This robot is used as an automated grazing control system for dairy cows.

 

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The leading companies profiled in the Agricultural Robots Market report include AG Leader Technology, AGCO Corporation, Harvest Automation, Inc., Drone Deploy, Agribotix LLC, Deere & Company, Boumatic Robotics, B.V., Topcon Positioning Systems, Inc., Autonomous Solutions, Inc., GEA Group, CLAAS KGaA mbH, and CNH Industrial. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

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Smart Glass Market Recent Developments, Emerging Trends and Business Outlook

 Smart Glass Market 2021 Business Opportunities

 

The Smart Glass market is anticipated to reach around USD 8,223 million by 2026 according to a new study published by Polaris Market Research. In 2017, the automotive segment dominated the global smart glass market, in terms of revenue. North America is expected to be the leading contributor to the market revenue during the forecast period.

 

Several stringent energy consumption regulations passed by governments worldwide have boosted the adoption of smart glass. Growing concerns regarding environment, increasing need to reduce energy consumption, and growing demand from the automotive sector further support the growth of this market. Additionally, the increasing adoption of energy efficient buildings and reducing operation costs would boost market growth during the forecast period. Other factors supporting market growth include supportive government regulations, increasing awareness, and technological advancements. Increasing investments by vendors in technological advancements coupled with research and development further boost the market growth.

 

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The well-known companies profiled in the smart glass market report include Asahi Glass Co., DuPont, Gentex Corporation, SPD Control Systems, View, Inc., Corning Incorporated, Hitachi Chemical Co., Ltd., RavenBrick LLC, Switch Materials Inc., Scienstry, Inc., ChromoGenics AB, and Innovative Glass Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

The smart glass market is majorly driven by factors including increasing energy concerns, and environment consciousness across the globe. The decreasing cost of electrochromic materials has encouraged consumers to switch to smart glass. Limited awareness among consumers had restricted the adoption of smart glass in the past. However, with significant government initiatives and substantial investments, the development of smart glass market has accelerated significantly.

  

North America generated the highest revenue in the smart glass market in 2017. The increasing awareness among consumers, and rising awareness regarding energy efficient buildings drive the market growth in the region. Consumers are adopting smart glass owing to stringent government regulations regarding energy consumption, and the need to reduce operation costs. Numerous key players have adopted partnership and expansion strategies to increase their share in the North America smart glass market.

 

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The different end-users of smart glass include automotive, architecture, consumer goods, and others. In 2017, the automotive segment accounted for the highest smart market share. The use of smart glass in windows, doors, and windshields in automotive reduces the heat accumulation in vehicles. The consumer electronics segment is expected to grow at the highest CAGR.

Polysilicon Market Recent Developments, Emerging Trends and Business Outlook

 Polysilicon Market 2021 Business Opportunities 

The global polysilicon market size is estimated to reach USD 9.68 billion by 2026 says a new report published by Polaris Market Research. The report “Polysilicon Market Share, Size, Trends, Industry Analysis Report By Application (Photovoltaics {Monocrystalline Solar Panel and Multicrystalline Solar Panel} and Electronics), By Regions, Segments & Forecast, 2019 – 2026” gives an accurate analysis of current market indices and taps future market trends.

 

Polysilicon is a high-purity silicon grade and a major raw material for the electronics and photovoltaic (PV) industries. Silicon has profuse abilities from which it is manufactured. The three commercial processes for extracting it from silicon are quite lucrative. Polysilicon finds itself useful in production of PV wafers which is another strong growth factor for global market.

 

The product is characteristically identified by two grades. One is electronics and the other solar. The electronics grade is used to manufacture microelectromechanical systems, optics, power conversion devices and Integrated Circuits. The solar grade is used in manufacturing photovoltaic cell. 

 

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The global solar installations surpassed 100 GW for the first time in 2017. This phenomenon has raised the ranking of polysilicon and wafers that are manufactured. Though the solar installation has grown prolifically on a global basis, the market witnessed less supply in 2017. The weak demand came about due to China with feed-in-tariff deadline and lack of transmission line that occurred in West China form sunnier regions.

 

Globally, solar energy has been actively adopted for different end-use industries in various applications. This has resulted in increased consumption of polysilicon in photovoltaic industry. An improvement in emerging countries of the world with rising disposable incomes has been major parameters for success of these end-use sectors. The demand for consumer electronics has also risen due to such economic and social factors.

 

Polysilicon is extensively used in electrical and electronics industry for manufacture of electrical components such as integrated circuits, which are an integral component in all electronics circuits and assemblies. A rising demand for smart phones, personal computers and data storage devices has given industry wide traction in the electrical and electronics industry globally.

 

China is a major consumer and also the largest PV module-manufacturing base which are factors responsible for growth of market in the country. However, there are minor obstacles in market on account of feed-in-tariff and ongoing trade disputes between China and United States. The situation in China has worsened the financial leg of US because US has lost access to China’s PV manufacturing industry, leaving a huge financial loss in its wake.

 

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Asia Pacific is anticipated to be the largest and fast-growing regional market due to industrial growth of its countries, especially the emerging countries. China, India, South Korea and Japan have significantly contributed to growth in region. The global polysilicon market comprises large multinational and domestic companies. The industry is moderately consolidated and highly competitive.

 

The key industrial players in global polysilicon market include REC Silicon, Wacker Chemie, LDK Solar Company Ltd., Tokuyama Corporation, CSG holdings Co., Ltd., Mitsubishi Materials Corporation and GCL Poly Energy Holdings Ltd.

 

 

Specialty Oleochemical Market Global Industry Trends, Growth Size and Regional Analysis

 Specialty Oleochemicals Market 2021 Business Opportunities

 

Specialty oleochemicals are special plant-based industrial chemicals and are highly priced with high profit margins. These oleochemicals exhibit interesting characteristic to be used across wide range of applications. Some of the properties include surface activity, emulsifying properties along with the beneficial biological properties. Specialty oleochemicals hold very crucial advantage of being ‘green’ relative to their petrochemical counterpart.

 

The specialty oleochemicals market is primarily driven by the sustainability factor due to its plant-based raw materials and wide array of applications globally. These chemical compounds are widely used in food, pharmaceuticals, personal care, and other consumer products. Specialty oleochemicals are also used in drilling fluids, paints, inks, agrochemicals, textile materials, and in deicing chemical agents.

 

Rising economic growth of several developing countries in the world, with complex lifestyles and increase in personal disposable incomes has boosted the growth of consumer goods and commodities making use of specialty chemicals. Consumer awareness concerning the environmentally sustainable products has also led to increased demand of end-use products made from specialty oleochemicals.

 

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The supportive regulatory framework has essentially contributed to the growth of the global specialty oleochemicals market. These oleochemicals hold significant potential for replacing petrochemical based products in few end-use applications such as paints, inks, textiles, and plastic & polymer additives. Thus, these specialty compounds represent a positive picture in terms of the growth during the forecast period.

 

Asia Pacific is the dominant regional player for the specialty oleochemicals. The export trade of palm oil, a major raw material for specialty oleochemicals, is dominated by the Southeast Asian countries, mainly Indonesia and Malaysia. These countries have been major exporters of palm oil for almost a decade. However, palm cultivation in these countries have taken place extremely fast, thus a stagnating export is anticipated on account of environmental impacts.

 

North America has also witnessed significantly higher growth in the specialty oleochemicals market. The region has witnessed high demand for personal care and pharmaceutical products that are obtained from natural derivatives. Some minor applications such as drilling fluids and inks markets have also grown substantially in terms of demand.

 

The specialty oleochemicals market is moderately competitive and highly consolidated. It constitutes of large number of domestic and international market players. Integration by key market players from the procurement stage to the distribution stage of the value chain is also a major phenomenon in this market. Some of key oleochemical market players include Emery Oleochemicals, KLK Oleo, IOI Group, Oleon, Evonik Industries, Kao Corporation, Vantage Specialty Chemicals, and Wilmar International.

 

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