DUBLIN--(BUSINESS WIRE)--The "Azodicarbonamide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Azodiarbonamide Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).
Companies Mentioned
- Abtonsmart Chemicals(Group) Co.,Ltd.
- Ajanta Group
- Haihang Industry.Co., Ltd
- Jiangsu SOPO (Group) Co., Ltd.
- Jiangxi Selon Industrial Co., Ltd.
- JingJiang Hangsun Plastic Additives Co., Ltd.
- Khadgawats Group
- Kum Yang Co., Ltd.
- LANXESS
- Nikunj Chemical Limited.
- Otsuka Chemical Co.,Ltd.
- SPL Group
- Sri Dwarikadheesh Polymers Pvt Ltd
- Sundow Polymers Co., Ltd
Key Market Trends
Plastics and rubber industry is expected to dominate the market
- Azodicarbonamide is a crystalline powder, an odorless chemical compound by nature, which ranges in color from yellow to orange-red.
- Azodicarbonamide is used in plastics manufacturing processes such as injection molding, calendaring, extrusion, coatings, slush, and rotational molding.
- It is also used as a blowing agent in the formation of the foamed plastics in the foaming process.
- Foamed plastics usage has increased the strength to weight ratio of the material along with the improvement in electrical and thermal insulation and reduced material costs.
- Increasing demand for foamed plastic from industries like air filters and construction in the next few years is anticipated to propel the use of azodicarbonamide as a blowing agent.
- In the rubber industry, it is used in the formation of vinyl (PVC). Vinyl foam is used in carpets and floor mats as it is springy and does not slip on smooth surfaces. The global market value of rubber is expected to reach USD 60.4 billion by 2026, which is likely to benefit the market studied.
- Saudi Arabia's prospects of rubber production are comprehensive, as Saudi Arabia signed USD 54.4 billion deal to offer investment in rubber manufacturing plants in January of 2019. Also, in June of 2019, Russian petrochemical company Sibur reported that it is considering the construction of a rubber production plant in Saudi Arabia.
- As demand of products like rubber seals, yoga mats, gymnasium products and shoes is expected to increase, which in turn is expected to translate into demand for azodicarbonamide market for the forecast period.
- All the afore-mentioned factors are expected to drive the demand for azodicarbonamide over the forecast period.
Asia-Pacific Region to Witness a Significant Growth
- The Asia Pacific is expected to grow significantly during the forecast period owing to the rising demand from consumers for better-quality plastics and rubber products (foamed plastics etc.) process.
- The plastic industry is expected to grow in countries like China and India. The Chinese plastic industry is growing at a high rate due to the availability of cheaper raw materials and massive demand increase in industries like packaging and footwear from developing economies.
- The Chinese government is planning Xinjiang as the hotbed for the textile and apparel manufacturing and has invested USD 8 billion. It is expected that China's northwest region is to become the country's largest textile production base by 2030, thereby boosting the market demand.
- India's plastic production is also expected to increase massively due to export growth and government investments. According to India Brand Equity Foundation, during April 2019 to January 2020, plastic export stood at USD 7.045 billion with the highest contribution from plastic raw material at USD 2.91 billion. India exported plastics worth USD 813 million in October 2020, and the export during April 2020 to October 2020 was USD 5.58 billion.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Significant Growth of the Plastic Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Stringent Regulations in EU and Australia.
4.2.2 Negative Impact of COVID-19 Pandemic
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Grade
5.2 End-user Industry
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/uznqan
