The global interconnect solutions market for fluid conveyance focuses on seven regions namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
The global interconnect solutions market for fluid conveyance market is expected to surpass US$ 490.53 Bn in terms of value by the end of 2028.
Global Interconnect Solutions Market for Fluid Conveyance: Drivers
Increasing need for supply chain linkage is expected to drive growth of the global interconnect solutions market for fluid conveyance during the forecast period
World’s low cost fossil fuel hub Middle East can be considered as a price point for conventional plastic raw materials. Supply agreement between large chemical producers to Middle Eastern countries is extending worldwide. Despite bio-plastics are behind in the cost-performance parameter, technological development will play a vital role to bring down bio-plastics prices globally. Hence, these factors are expected to propel growth of the global interconnect solutions market for fluid conveyance in the near future.
Global Interconnect Solutions Market for Fluid Conveyance: Opportunities
Sustainable footprint cognizance of the companies can provide major business opportunities
Market participants of global plastic market are focused on increasing the eco-friendly footprint of the company which in turn is fueling the number of investments in bio-plastics. Furthermore, companies are also involved in the strategic alliances, partnerships, and acquisitions to expand their sustainable capabilities. Key companies in the market can capitalize on these opportunities by providing novel products and can gain a significant advantage in the market.
Global Interconnect Solutions Market for Fluid Conveyance: Recent Developments
RTP Company has opened a manufacturing plant in Wroclaw, Poland. Through this manufacturing plant company is planning to cater the regional demand.
In August 2021, NatureWorks, has get final authorization to build a new Ingeo PLA manufacturing complex in Thailand.
In June 2021, BASF SE has enhance its innovation efficiency by moving their R&D center from Amagasaki to Yokkaichi.
Global Interconnect Solutions Market for Fluid Conveyance: Restraints
Challenges regarding use of bio-plastics in emerging economies are expected to hamper growth of the global interconnect solutions market for fluid conveyance over the forecast period
Currently bio-plastic feedstock material is food products and there is no commercial technology available to use waste food to manufacture bio-plastics. In high population – low-income regions, it is difficult to commercialize bio-plastic materials. Therefore, these factors are expected to hamper the global interconnect solutions market for fluid conveyance in the near future.
Global Interconnect Solutions Market for Fluid Conveyance Market - Impact of Coronavirus (Covid-19) Pandemic
In the U.S. from 3 January 2020 to 7:03pm CEST, 20 September 2021, there have been 41,716,516 confirmed cases of COVID-19 with 667,244 deaths, reported to WHO. As of 16 September 2021, a total of 388,936,652 vaccine doses have been administered. The pandemic has adversely impacted various sectors worldwide. However, with mass vaccination worldwide, and ease on restrictions on transport and production, the markets are expected to recover and reach pre-Covid-19.
Local use and small scale adoption
Usage of biochar starts with its application by local farmers for agricultural purposes using waste for biochar production in local kilns. Proven advantages of local usage of biochar led to the small scale production of biochar using the pyrolysis process. Commercial production of biochar has become viable and holds the potential for the future.
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Constant R&D activities is another major trends
Recently, biochar based research and development activities have gained momentum, which has provided further advantageous properties of biochar and hence it’s enhanced scope of application. This, in conjunction with the growing awareness program, is likely to enhance the scalability of biochar production in the near future involving huge firms.
Major companies operating in the global interconnect solutions market for fluid conveyance are BASF SE, NaturePlast, NatureWorks LLC, RTP Company, Toray Industries Inc., Techno polymer Co. Ltd., Evonik Industries, Arkema, E. I. du Pont de Nemours and Company, and DSM NV.
Key players in the market are focused on product launches, in order to expand the product portfolio. For instance, in February 2018, Evonik Industries introduced novel plastics concepts TROGAMID a transparent, microcrystalline biopolyamide.
Major market players are involved in product launches, in order to gain a competitive edge in the market. For instance, in December 2019, Arkema launched high-performance, eco-friendly products for consumer goods, industry, sports, and transportation sectors.
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