How is Growing Demand for Paints and Adhesives Driving Methylene Chloride Market?

The demand for methylene chloride is exploding all over the world, on account of its usage as a key solvent in various paint and adhesive formulations. Due to its low flammability, quick drying characteristics, and strong dissolving strength, methylene chloride is heavily used as a solvent in adhesive and paint formulations. With the mushrooming requirement for paints and adhesives, on account of the launch of various construction projects, the demand for methylene chloride is rising sharply across the world.  

Besides the aforementioned factor, the surging sales of automobiles, especially in the developing countries, are also pushing up the sales of paints and adhesives across the globe. This is, in turn, propelling the demand for methylene chloride all over the world, which is consequently driving the advancement of the global methylene chloride market, as per the observations of P&S Intelligence, a market research company based in India. Methylene chloride is basically an organic compound and has the formula- CH2Cl2.

The other major application areas of methylene chloride are photographic films, inks, and electronics. Out of these, the usage of the compound was found to be the highest in chemical and foam manufacturing processes during the past few years. This was because of the huge requirement for the compound in foam manufacturing and chemical processing processes, on account of its excellent blowing performance and large-scale usage in specialty chemical formulations.

Geographically, the Asia-Pacific region emerged as the largest methylene chloride market in the past, which is primarily ascribed to the surging production of the chemical in the region, rapidly growing population, and increasing infrastructural activities. In APAC, China and India are among the major consumer of the chemical. Furthermore, companies in the domain from across the globe are shifting their production bases to the APAC region, owing to the strict environmental regulations and rules laid down by the governments of various countries, primarily those in the European region, banning the utilization of methylene chloride in paint stripper applications. 

In conclusion, the demand for methylene chloride is being driven by the surging utilization of paints and adhesives in the construction industry. 

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Increasing Application of Barium Nitrate in Military Sector

Barium nitrate is used in a considerable amount in the production of ceramic powder that is an important ingredient of electronic components, such as superconductors, capacitors, and semiconductors. The ceramic powder coating is used for device packaging, specialized mechanical components, and semiconductor devices. Besides, its application is increasing in the glass industry, as this compound helps in improving opacity and homogeneity of glasses. Moreover, it is used as an oxidizing agent during the production of glass, as it prevents crystallization of glass, thus, leading to better productivity and output.

According to P&S Intelligence, the market is expected to progress at a CAGR of 5.5% during forecast period. Countries across the world are focusing on the expansion of the military sector, on account of rising investment, thus, boosting the demand for barium nitrate products. Furthermore, the application of these products will spur in North America, Asia-Pacific (APAC), and the Middle East, due to heavy investment by barium nitrate manufacturers.

Moreover, stable and continuous demand for barium nitrate products from the pyrotechnics/fireworks sector is expected to boost the adoption of this chemical in coming years. Barium nitrate acts as an intermediate chemical in the pyrotechnic industry and as an oxidizing agent to manufacture green fireworks. It is also used as a pyrotechnic colorant compound, which gives a specific color to the burning flame. Besides, the chemical is utilized in tracer bullet that allows shooter to detect the trajectory of a bullet with the naked eye. 

Thus, the broadening application base of barium nitrate is fueling the demand for this compound. This has led to the exponential growth in the production capacity of established market players, such as Angene International Ltd., Hebei Xinji Chemical Group Co Ltd., Jiaocheng Sanxi Chemical Co. Ltd., SNDB, Tennants Distribution Ltd., Basstech International Llc, Sakai Chemical Industry Co. Ltd., Solvay, and Xilan Chemicals Co. Ltd. Due to the strong presence of these companies, new players will face a lot of competition in terms of cost competitiveness, product quality, and supply reliability.

Therefore, the expansion of the military, electronics, and pyrotechnics industries will propel the demand for barium nitrate products in future.

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How is Increasing Demand for Packaging Contributing toward Surge of Global Injection Molded Plastics Industry?

The mushrooming requirement for injection molded plastics in the automotive industry is one of the major factors fueling their sales across the world. These plastics are heavily used for manufacturing various automobile parts and components in order to reduce the overall weight of the automobile. Moreover, the rising requirement for lower vehicle weight because of the ballooning demand for higher fuel efficiency is propelling the usage of injection molded plastics in the automotive industry.

The implementation of strict regulations regarding the usage of medical grade polymers in the healthcare industry is propelling the demand for injection molded plastics across the world. This is, in turn, creating excellent growth opportunities for the injection molded plastics producing companies around the world. Due to these factors, the global injection molded plastics market is exhibiting huge expansion. As a result, the market value is predicted to grow from $283.5 billion in 2016 to $496.2 billion by 2025.

Geographically, the injection molded plastics industry will demonstrate the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the mushrooming demand for packaging in the pharmaceutical, cosmetics and toiletries, and food and beverages industries and the ballooning consumption of soft drinks in the regional countries, on account of the rising average temperatures in these countries. 

Hence, it can be said with surety that the demand for injection molded plastics will shoot up all over the world in the forthcoming years, primarily because of their growing usage in the packaging and automotive industries.

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