Chemical Industry - Market Research Report

  The global   compostable packaging market   was valued at USD 74.01 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. This growth is primarily fueled by increasing environmental awareness, supportive regulatory policies, shifting consumer preferences, and ongoing innovations in material science. A major contributing factor to this market's expansion is the implementation of government regulations and policies aimed at reducing plastic waste. Many nations and regions are enforcing strict limitations on single-use plastics while promoting compostable alternatives. For example, the European Union’s Single-Use Plastics Directive has imposed restrictions on plastic packaging, resulting in greater uptake of compostable options. Similarly, U.S. cities like New York and San Francisco have enacted bans on non-compostable plastics, creating a regulatory landscape that supports the development of compostable packaging. Corp...

  The global   apiculture market   was valued at USD 9.31 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 4.0% from 2025 to 2030. This growth is driven by the wide-ranging applications of bee products beyond food and beverages. These products play a vital role in industries such as pharmaceuticals, cosmetics, and agriculture. Key Highlights: In 2024, the Asia Pacific region led the global apiculture market, accounting for 35.6% of total revenue. China remained the largest honey producer globally, contributing approximately 50.5% to total honey production. The food and beverage sector represented the leading end-use segment, holding a 43.5% revenue share in 2024. In the medical sector, bee products are gaining traction for their therapeutic potential. By type, honey products led the market with the highest revenue share in 2024. The market is expected to reach USD 11.78 billion by 2030, growing at a 4.0% CAGR. Products such as honey an...

  In January 2024, Thai Smile Bus, a private bus operator in Thailand, became the first bus operator in the world to trade carbon credits from its operations. TSB traded carbon credits with Switzerland’s Klik Foundation. In other news, a U.S.-based carbon credit startup, CNaught, raised $4.5 million in a seed funding round in May 2025. So, what exactly is this voluntary carbon credit? Why do organizations buy/sell them, and why has it become a huge market worldwide? A voluntary carbon credit represents one metric ton of carbon dioxide reduced or removed from the atmosphere. These credits are traded in the  voluntary carbon credit market , where private actors voluntarily buy and sell them to offset their greenhouse gas emissions. Unlike compliance markets, where participation is mandatory, the VCM is driven by individual companies and organizations setting their own emissions reduction targets. That’s why the term ‘voluntary.’ The purchase of carbon credits funds projects that...

  The global   metal cans market   size estimated at USD 65,369.8 million in 2022 and is expected to expand at a compounded annual growth rate (CAGR) of 6.2% from 2022 to 2030. The increasing use of metal cans for packaging food & beverage products including fruits, vegetables, soups, baby foods, poultry, carbonated soft drinks (CSD), alcoholic beverages, juices, and liquid dairy products driving the market. The benefits associated with metal packaging include reusability, recyclability, durability, as well as appearance. The increasing consumption of packaged and processed food & beverages is the primary factor supporting the market growth. Continuously developing packaging technologies by the major players across the globe is also one of the major factors driving the metal cans' market. Additionally, developing infrastructure for the recycling of discarded metal packaging products is further bolstering the demand for metal cans across the globe. The US is a high...

  The global   aluminum forging market   was valued at USD 23.93 billion in 2024 and is anticipated to expand at a CAGR of 7.0% from 2025 to 2030. Growth is largely driven by the increasing use of lightweight materials in the automotive industry. Automakers have long aimed to reduce vehicle weight to enhance fuel efficiency, boost performance, and lower carbon emissions. According to the U.S. Department of Energy, reducing vehicle weight by 10% can result in a 6% to 8% increase in fuel efficiency. As a result, automotive manufacturers globally are increasingly focused on producing lightweight vehicles. In addition, growing demand for new defense aircraft is expected to propel market growth further. For example, Airbus reported a 200% surge in profits, largely due to rising passenger aircraft sales and increased military aircraft demand. In May 2022, Airbus announced plans to scale up A320 production by 50%, targeting 75 aircraft per month by 2025, reflecting its response ...

  The global   oleoresin market   size was estimated  at USD 1.8 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2030. This is attributed to the rising demand of oleoresins like turmeric in pharmaceutical and healthcare sectors due to its therapeutic benefits, which have bolstered the market growth. Turmeric oleoresin is widely used in healthcare and pharmaceutical industries due to its applications, which include pain relief and reduction in stress and depression, exhibiting robust growth in demand for the overall market over the forecast period. It is also called pinyon gum and has been considered to have medicinal properties and used by consumers globally. Spain is among the major importers of oleoresins in Europe, along with Germany, UK, Belgium, and Austria being the other key importing countries. The country's demand for the product is driven by several industries, including personal care & cosmetics, pe...

  The global   neodymium market   size was valued at USD 2.07 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030. The market is anticipated to be driven by the increasing usage of permanent magnets in the automotive industry. Neodymium-iron-boron (NdFeB) is of vital significance in electric motors, which are further used in electric vehicles (EVs) and wind energy-related applications. The growing focus on alternative energy has augmented the demand for wind energy and EVs, which, in turn, is boosting the market growth. The U.S. is a vital market for rare earth. The need for NdFeB magnets is expected to rapidly grow on account of rising demand from high-end applications including robotics, wearable devices, EVs, and wind power. The increasing demand for magnets in various end-use industries has pushed key manufacturers to set up new plants. For instance, in April 2022, MP MATERIALS announced that it is going to inve...

  The global   hydrocolloids market   size was estimated at USD 11.23 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. Growing demand for thickeners and gelling agents from pharmaceutical, personal care, cosmetics, and food & beverage industries, in the emerging economies of Asia Pacific, is driving the growth. The upsurge in the consumption of hydrocolloid-based products in building materials coupled with rising demand from the cosmetics industry is expected to boost the market growth over the forecast period. Additionally, the high demand for thickening and gelling applications from the food and beverage sector is expected to be the major factor in boosting sales. The extensive series of functions performed by hydrocolloids in the food industry is a key driving force for the market. The foremost function contributing to the abundant utilization of the products in the food industry is their capability to bin...

  The   U.S. steel rebar market   was valued at USD 6.50 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2025 to 2030. This growth is primarily driven by increased investments in residential development projects across the U.S. The rising demand for affordable housing has prompted state and local governments to allocate more funds for affordable housing initiatives. For example, in October 2024, the U.S. Department of the Treasury announced USD 246.4 million in funding for the development of affordable housing and community infrastructure aimed at low-income communities and families. Pricing Trends Steel rebar prices in the U.S. have experienced notable fluctuations in recent years, influenced by supply chain disruptions, raw material prices, and global demand. In 2021, prices soared to approximately USD 1,000 per ton due to pandemic-related shortages and an uptick in construction activity, a significant jump from the pre-pand...

  The global   cladding market   was valued at USD 237.70 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2030. In recent years, the cladding industry has experienced notable technological advancements, including the development of lightweight prefabricated cladding systems. These innovations have streamlined installation processes, reduced labor requirements, and enhanced overall efficiency. Additionally, advancements in digital design tools and computer-aided manufacturing have improved the precision and customization of cladding solutions, particularly in urban environments. As the need to retrofit existing buildings to meet modern standards and improve energy efficiency grows, cladding has emerged as a practical solution. It enables the transformation of aging structures into visually appealing, sustainable buildings with enhanced insulation. The increasing emphasis on urban regeneration and renovation initiatives ...

  The global   ferroalloys market   was valued at USD 50.35 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2030. This growth is primarily fueled by rising demand for ferroalloys in steel production worldwide. The increasing consumption of construction steel is expected to further boost steel manufacturing. Consequently, the growing need for non-residential and commercial buildings, along with efforts to develop affordable housing in emerging economies, is likely to drive the demand for ferroalloys. Application Insights & Trends Cast iron, an iron-carbon alloy containing more than 2% carbon and approximately 1–3% silicon, is characterized by its low melting point and cost-effectiveness. Its versatility allows it to be molded into various shapes, making it suitable for diverse applications such as cookware, pipes, machinery, and automotive components like cylinder heads, engine blocks, and gearbox housings. In 202...

  The global   silicon carbide fibers market   size is expected to reach USD 5.49 billion by 2030, registering a CAGR of 28.1% from 2025 to 2030, according to a new report by Grand View Research, Inc. This can be attributed to the superior strength-to-weight ratio, high modulus, good chemical resistance, and low thermal expansion offered by silicon carbide (SiC) fibers. Product demand is witnessing growth in the manufacture of hot section components of military and commercial gas turbine engines due to superior thermal and oxidation resistance offered by the product at high temperature. Product penetration is also increasing in manufacturing radiation blankets, channel boxes, and fuel cladding for nuclear reactors. Application scope of the product in aforementioned areas is expected to propel the market for silicon carbide fibers. Industry participants are engaged in the development of advanced thermo-chemical techniques to convert precursor fibers to high-performance ult...