Also, the demand for fine hydrates is expected to be higher in Asia-Pacific excluding Japan & China (APEJC) region, which has been influencing fine hydrate manufacturers to invest their businesses in countries such as India and South Korea.
Valley Cottage, NY -- (SBWIRE) -- 03/16/2017 -- According to Future Market Insights' research, the global fine hydrates market is projected to double its market size from 2016 to 2026, procuring an estimated US$ 532.3 million revenues from US$ 266.3 million over the ten-year period.
Subsequently, the global fine hydrates market size is expected to expand at 7.2% CAGR over the forecast period.
In terms of consumption, more than 400 KT of fine hydrates will be sold globally in 2016 and beyond, and will reach 714.6 KT by the end of 2026, registering a 6% CAGR.
Future Market Insights has compiled its latest findings on the global analysis of fine hydrates market in a report, titled "Fine Hydrates Market: Global Industry Analysis & Opportunity Assessment, 2016-2026." Growing demand for use of plastics in automotive & transportation industry has turned out to be a crucial factor driving the growth in global demand for fine hydrates throughout the forecast period. Companies manufacturing fine hydrates can net additional profits by supplying their products as raw materials for production of cable compounds. Also, the demand for fine hydrates is expected to be higher in Asia-Pacific excluding Japan & China (APEJC) region, which has been influencing fine hydrate manufacturers to invest their businesses in countries such as India and South Korea.
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Depending on the market share, a regional analysis of global fine hydrates market projects North America as the most dominant region. By 2026-end, North America's fine hydrates market is likely to account for sales revenues worth over US$ 100 million. Although the region retains the highest share in global fine hydrates market through 2026, Western Europe and China are being pegged as highly opportunistic regions for market expansion. The most sluggish growth in fine hydrates revenues, however, will be incurred by regional markets of Latin America, Middle East & Africa (MEA), and Japan. Meanwhile, Eastern Europe's fine hydrates sales are expected to attain an estimated US$ 10.3 million increment during the period 2016 – 2026.
Global Fine Hydrates Market: Key Research Findings
In terms of production of fine hydrates, countries such as the US, German and China will collective dominate, and the demand for fine hydrates will be more in India, South Korea, and China, as well.
Growing consumption of wires and cables in the world will directly impact the growth in consumption of fine hydrates.
Fine hydrates will continue to serve as one of the top-selling raw materials for the global construction & building sector.
By the end of 2026, nearly 500 KT on fine hydrates sold globally will be accounted by cable compounds applications, netting revenues worth over US$ 400 million.
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Growing replacement of fine hydrates with alternative additives poses a threat for the growth of global market, which is also restrained by low sustenance of fine hydrate-based cables & wires in high temperatures.
Global Fine Hydrates Market: Vendor Insights
A majority of fine hydrates manufacturers of leaders of global chemicals & materials industry. Companies such as Nabaltec AG, Hindalco Industries Limited, Sumitomo Chemical Co. Ltd., and Huber Engineered Materials, which reap billion-dollar revenues annually through sales of chemicals & raw materials, are also recognized for manufacturing fine hydrates on a global scale. China's leading chemicals manufacturer, the Aluminium Corporation of China Limited, is also a key player in the global fine hydrates market. Other leading manufacturers & suppliers of fine hydrates include Alumina Castables & Chemicals Private Limited, Henan Kingway Chemicals Co., Ltd. and JINAN CHENXU CHEMICAL CO. LTD.