Hermetic Packaging Market Top Companies Analysis, Business Overview and Forecast Report till 2025

September 20, 2021: The global hermetic packaging market size was valued at USD 2.83 billion in 2016 and is anticipated to reach USD 5.03 billion by 2025. Packaging refers to the enclosures provided for products intended for storage, sale, distribution and use. These packages involve tins, cans and are barrier sealed to prevent air from entering into cans and help in preserving the contents from decaying. This is one side of the story. An application for hermetic sealing includes semiconductor electronics, thermostats, optical devices, MEMS and switches. Prevention of foreign bodies and water bodies in them is an essential requisite for maintaining proper functioning and reliability.

Hermetic by standard definition goes as being impervious to air. A cavity sealed microelectronic package that passes both gross and fine leak test as per TM1014 test method is named hermetic otherwise christened a “leaker”. The factors boosting hermetic packages include high-performance and limitations in plastic encapsulate I.C and ceramic packages on account of industry gravitating towards surface-mount switches. Restraints for hermetic packages include the on-demand re-start of hermetic lines as opposed to continuous production lines of plastic packages.

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Segmentation of hermetic packaging by configuration comprises multilayer ceramic packages, pressed ceramic packages and metal can packages. Market by type is classified as ceramic-metal sealing (CERTM), Glass Metal sealing (GTMS), Passivation glass, Transponder glass and Reed Glass. Market by Application includes transistors, sensors, lasers, photodiodes, airbag igniters, oscillating crystals, MEMS switches and others. Market by end-user industry comprises military and defense, aeronautics and space, automotives, energy and nuclear safety, medical, telecommunication and others. By geography, the market is further segmented into North America, Europe, Asia Pacific, MEA and Latin America.

Automotives are further broken down into airbag initiation, battery protection and RFID transponder operation. Energy and nuclear safety comprises electrical penetration control, oil and gas applications, fuel cell manufacturing. Medical truncates into dental applications and veterinary applications. MEM’s are proven devices of low-cost and reliability such as gyroscopes and resonators and excel in restricting chemically inert gases from escaping thanks to the hermetic packaging such as discrete and wafer level hermetic packaging employed. Electronic packaging is a science with hermetic ceramic packaging comprising I.C chips in Dual-Inline-Package (DIP) form which is further divided into two main types viz: multilayer ceramic packages (LTCC and HTCC) and pressed ceramic packages.

CERM sealing enables high speed data transmission with minimum trace. H/LTCC offers significant advantages and hence indicates vertical growth in this segment. Hermeticity or hermetic packages to prevent moisture condensation from forming on IC chips and causing corrosion or occurrence of electro-chemical reactions is reason to hermetically seal the packages pursuant to military applications. Plastic encapsulate microelectronics (PEM’s) are still finding favor o account of die passivation and metallization technology but this is not the end for hermetic sealed packages with their feature-rich characteristics will find favor in electronics industry.

Hermetic connectors including DC and RF connectors machined housing and integrated hermetic electronic packaging are in use in extreme temperatures for carrying electric current in and out of the housing and disallow ingress of dust or moisture to settle on the electronic components. Connectors with specifications such as leak rate of 1x10-5 are hermetic. Target Audience includes OEM’s, OEM technology solution providers, Research Institutes, Market research and consulting firms and Technology Investors.

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As a news article dated Aug 2016 suggests trends in food packaging have completely taken over the industry with minimization of food waste and matters with severity such as using lesser preservatives in food are here to stay. Key industry players include Teledyne microelectronics, Schott AG, Ametek, Inc, Amkor Technology, Texas Instruments Inc., Micross Components, Inc., Legacy Technologies, Kyocera Corporation, and Materion Corporation.

Market Segment:

Hermetic Packaging Product Outlook (USD Million, 2014 - 2025)

        • Ceramic to Metal Sealing

        • Glass to Metal Sealing

        • Transponder Glass

        • Reed Glass

        • Passivation Glass

Hermetic Packaging Application Outlook (USD Million, 2014 - 2025)

        • Aeronautics & Space

        • Military & Defense

        • Automotive

        • Healthcare

        • Telecom

        • Others

Hermetic Packaging Regional Outlook (Revenue, USD Million, 2014 - 2025)

        • North America

            • U.S.

        • Europe

            • Germany

            • France

        • Asia Pacific

            • China

            • Japan

        • Central & South America

            • Brazil

        • Middle East & Africa

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Vaccine Market Growth Analysis, Opportunities And Forecast Report till 2024

September 20, 2021: The global Vaccine Market was valued at over USD 32.5 billion in 2015 and is expected to reach over USD 77.5 billion by 2024, at a CAGR of 10.3%. A lot of vaccines technologies that could assist in improved safety, effectiveness and deliverance are in progress, such as needle liberated administration, escalating the magnitude and long lasting existence of defensive immune responses provoked by vaccines at the same time as plummeting the dose, and enhanced vaccine stabilization.

The worldwide industry for vaccines is expected to nurture, owing to technical advancements in admiration to the expansion of new vaccines towards cancers, rising infectious diseases and allergies. The industry will acknowledge constant progress in delivery methodologies, vaccine design, and manufacturing in huge scale process. The industry is expected to witness a drift towards the expansion of customized vaccines. In addition, to which the requirement for cost effective and safe drugs for the cure of HIV infection, many cancers which could be dealt by therapeutic vaccines, will outstandingly fuel the market growth over the forecast period. Inside the healthcare market, the vaccine market was originally considered a small profit venture but is presently professed with transformed interest among market circles owing to its huge demand in regard to rising infectious diseases.

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In addition, an enhanced and considerate understanding of the immune system has cemented new prospects for making new therapeutic and preventive vaccines. Rapid advancements in consideration of the immune system and wish of medical society to engineer both therapeutic and preventive vaccines for a wide-ranging field of diseases are expected to fuel the changes in the managed care industry and medicine industry which in return is expected to fuel the growth of the market. The expansion of worldwide Vaccine industry is partially fuelled by technical breakthroughs such as genome sequencing of contagious pathogens, sophisticated understanding of the immune system and its instrumentation of reaction, chased by a noteworthy influx of money from civic funding bodies, commercial organizations and private charity. Safety, the manifestation of adequately high efficiency and lack in a requirement of a reliable evaluation and development pathway are the main obstructing blocks for making new vaccines.

Additionally, discovering novel and more efficient ways of healing rising public health threats, there is substantial focus on recovering access to immunization for people in developed and developing countries. There is an imbalance in demand to create effective vaccines in opposition to a number of lethal infectious diseases such as malaria, hepatitis C and AIDS. Even though, vaccines for Infectious diseases such as influenza and TB exist, but are only partly effectual and this sector demands significant upgrading to react for the actual public health needs. This imbalance is expected to pose the challenge for this market over the forecast period.

On the basis of technology class, the market can be segregated into Conjugate Vaccines, Toxoid Vaccines, Sub-Unit Vaccines, Recombinant Vector Vaccines, Live/Attenuated Vaccines, DNA Vaccines, Synthetic Vaccines and Dentritic Vaccines. On the basis of the type, the market can be segregated into Therapeutic and Preventive. On the basis of end users, the market can be segmented into Adult and Paediatric. On the basis of disease indication, the market can be segregated into Infectious Diseases, Cardiovascular Diseases, Allergies, Cancer and Others such as Diabetes. On the basis of a geographical region, the market can be segregated into North America, Asia Pacific, Europe and Rest of the world. Asia Pacific is expected to grow rapidly over the forecast period owing to increasing demands of a vaccine in the countries like India and China coupled with rising awareness about the usage of vaccines. North America is expected to capture maximum revenue over the forecast period owing to great awareness of vaccine and increasing regulation by government to strengthen the vaccination process. North America is followed by Europe.

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Some of the key players in the market are Sanofi, Glaxo SmithKline PLC, Merck & CO., INC., Novartis AG, Aduro biotech, ImmunoCellular Therapeutics Ltd, Antigen Express, INC, Agenus Inc, Galena Biopharma Inc., Dynavax Technologies Corp., and Inovio Pharmaceuticals. The companies are focused on initiating the DNA-supported vaccines to stop and cure cancer and infectious diseases. The market is less fragmented and there is the lack of standardization which is expected to pose the challenge for the players over the forecast period. As the number of contagious diseases is increasing, the key companies playing in this area try their best to incorporate latest innovations in their vaccines so that they can have more effective vaccines. This market is expected to be innovation driven over the forecast period.

Market Segmentation

Global Vaccines Market By Type (Revenue, USD Million, 2013 - 2024)

        • Inactivated vaccines

        • DNA vaccines

        • Attenuated vaccines

        • Subunit vaccines

        • Conjugate vaccines

        • Toxoid vaccines

        • Others

Global Vaccines Market By Application (Revenue, USD Million, 2013 - 2024)

        • Infectious diseases

        • Cancer

        • Autism

        • Allergy

        • Others

Vaccines Market By Region (Revenue, USD Million, 2013 - 2024)

        • North America

            • U.S.

            • Canada

        • Europe

            • UK

            • Germany

        • Asia Pacific

            • Japan

            • China

        • Latin America

            • Brazil

        • MEA

            • South Africa

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Automotive Coatings Market Opportunities, Challenges, Strategies And Forecast Report till 2025

September 17, 2021: The automotive coating market is expected to grow at a healthy rate for the forecasted period owing to the increase in demand of commercial and passenger vehicle, development in transport infrastructure, and supporting government policies and regulations. Latest technology in this industry is water born and powder coatings. Most of the automobile parts are metallic and to improve the life and avoid degradation metal coating is done on it. Growing demand of automobile across global is offering great opportunity for auto coating industry. Innovation in green technology such as making the products eco-friendly will help the industry to grow significantly as it will abide government regulations.

Water borne and powder borne coatings popularity is increasing as it has longer durability, in line with government regulations during production, and is cost effective than conventional solvent borne coatings. These emits hazardous chemical and harms environment. The market is primarily influenced by the government regulation as affects the environment. Also the prices of raw material are fluctuating hence it is emerging as a major challenge for the industry as the profit margins are reducing.

The automotive coatings industry is segmented majorly into two categories which includes aftermarket or refinish and Original Equipment Manufacturing (OEM). The refinish or aftermarket is used by the vehicle body shops and collision repair centres. On the basic of product segmentation, the global automotive coatings market can be divided into four categories namely primer coats, electro-coats, clear-coats, and basecoats. Based on formulation, this market can be classified into four categories which includes solvent-based, water-based, UV-based, and powder-based coatings.

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Solvay SA has worked on improving in durability, appearance, and developed new type of finish Basecoat. The upper coat paint system is divided into an enamel basecoat pigmented, followed by an enamel clear finish. The main element in this technology is a clear coat which has longer durability in all weathers. The expense of the Basecoat paint system was high initially and it was used in top-end auto cars. But with the advancement in the technology and processing it helped in reducing the overall costs.

The automotive coating industry is regionally segmented into 5 regions which includes, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia-pacific is showcasing high potential in automotive aftermarket coating in terms of revenue due to increase in vehicles production and use of second hand cars. As the economy of Asia-pacific countries are growing need for automobiles and road infrastructure is also growing at same pace. Hence Asia-Pacific is most lucrative market amongst all.

In Asia Pacific region there is increase in the number of joint venture among key players of automobile industry, and political policies for development are favorable. Europe is the second largest market in the world because it is recovering from downturn. North America is an upcoming market, predicted to surpass it in future considering the increase in the industrial production. Europe and North America are anticipated to benefit from stringent environmental regulations that drive the demand for powder and waterborne coatings considering they are eco-friendlier. However economic slowdown is a major challenge in Europe and North America.

India, China, Brazil, and Russia or the BRIC are growing rapidly and the sale of automotive are expected to grow in coming years. These countries are considered to be major contributor towards growth of auto coating industry. Developing economies, improvement in the road infrastructure, and increase in use of individual personal conveyance are the key factors for the growth of the automotive industry.  In the competitive market scenario, companies are adopting various business model to exploit the market opportunities and gain competitive edge. Most of the market leader and challengers are concentrating on improving their design to have competitive edge.

Key contributors in the market are PPG Industries Inc., BASF SE, Kansai Paint Co., Ltd., Akzonobel N.V. Bayer AG, Solvay SA, Arkema SA, Akzonobel N.V., Ltd., Akzonobel N.V. and Valspar Corporation, Bayer, Sherwin-Williams, Beckers, Royal DSM, and Eastman Chemical, Diamond Paint, Valspar, Sherwin-Williams.

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BASF SE has launched a new refinish paint brand called NORBIN. NORBIN was launched in December 2015. NORBIN offers more colours at effective price, initially it was launched in China and Asia-Pacific. It offers high quality paint job, more range of colours at affordable cost. With the launch of new product BASF expects a dynamic jump in sales.

Market Segment:

Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

        • Primer

        • Electro coat

        • Basecoat

        • Clear coat

Technology Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

        • Waterborne Coatings

        • Solvent borne Coatings

        • Powder Coatings

        • UV-cured Coatings

Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

        • Metal Parts

        • Plastic Parts

End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

        • Light Vehicle OEM

        • Commercial Vehicle OEM

        • Automotive Refinish

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

        • North America

            • U.S.

        • Europe

            • Germany

        • Asia Pacific

            • China

            • India

        • Central & South America

            • Brazil

        • MEA

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Antifouling Coating Market Key Players Analysis, Segmentation And Forecast Report till 2022

September 17, 2021: Global Antifouling Coating Market size was 84.4 tons in 2014 and is expected to surpass 130.0 kilo tons during the forecast period. Antifouling Coating Market is anticipated to witness considerable growth on account of its rising demand of underwater surfaces in shipping vessels and hulls as it provides superior polishing effect and smoothness. To improve the performance and durability of the vessel and to avoid unwanted growth of sub-aquatic organisms, antifouling coatings are used as specialized paints and applied to the hull of a ship. Growing consumption in passenger ships, commercial vessels, cargo, yachts, conventional offshore drilling rigs and Floating Production Storage & Offloading (FPSO) is anticipated to boost industry growth from 2015 to 2022.

Preference condition-based monitoring over breakdown maintenance coupled with increasing popularity in shipping segment is projected to play a vital role in the products’ growing prominence and demand. Additionally, superior properties that act as a shielding agent against corrosion, external contamination and fouling is expected to fuel market growth.

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Application Insights

In 2014, Antifouling coatings were primarily used in shipping vessels, contributing to more than 80% of overall volume. These paints extend the dry-docking interval and provide direct fuel saving by protecting hulls from fouling organisms and corrosion. Production platforms & drilling rigs are projected witness market growth, at an estimated CAGR of 8.0% by revenue, over the forecast period. Companies functioning in oil & gas sector are continuously investing in the market for The FPSO vessels and thereby this is expected to serve market growth.

Regional Outlook

In 2014, Asia-Pacific was the dominant player accounting for nearly 85% of the overall volume in 2014. South Korea, Japan, China, Philippines and Taiwan are major hubs for shipbuilding activities. This is anticipated to lead to the dominance of Asia-Pacific in the shipbuilding segment, thus raising demand for antifouling paints. Furthermore, growing expenditure related to the production & exploration of crude oil & natural gas in India, Thailand and China, India are projected to further propel demand for these paints in production platforms and drilling rigs.

China, Taiwan, Philippines and South Korea, Taiwan are anticipated to witness substantial gains on account of presence of a large number of shipbuilding producers. In addition, the emergence of India and Australia as production units of shipping vessels on account of regulatory provisions for encouraging new investments and funding at the domestic level is estimated to expand the market size. The presence of stringent rules and policies to monitor the use of biocides in agriculture and water treatment, personal care and marine applications by the European Commission and EPA is expected to impede antifouling coatings demand from 2015 to 2022.

In September 2013, the Government of India introduced Draft National Chemical Policy, to uplift the country’s domestic throughput in the chemical industry to 6% by 2020 from 3% in 2014. Favourable government programs along with growing shipping sector in India is anticipated to present new opportunities in the next seven years. Europe’s Antifouling Coating Market, on the other hand, crossed 6.0 kilo tons in 2014. The market is expected to witness appositive impact owing to high penetration of yachts manufacturers in UK and Italy.

In 2014, MEA antifouling coatings market was estimated at USD 22.3 million. With the capital expenditure on a rise majorly attributing to development of offshore vessels in Nigeria, Angola and the market is expected to escalate the usage of this product over the coming years.

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Competitive Insights

Key market players include PPG Industries, AkzoNobel, Sherwin-Williams, Jotun, Hempel, Kansai Paint, Nippon Paint and Advance Marine Coating. In August 2015, Jotun inaugurated a new production facility with an investment of USD 24.4 million for marine coatings at Brazil in Rio de Janeiro. The production unit is estimated to produce 10 million litres of marine coating products, together with antifouling products.

GLOBIC, and DYNAMICare the two products that were launched under the brand name in December 2014 for new shipyard buildings and dry dockings for delivering fuel savings of maximum 3%. New product development is anticipated to remain a vital success factor for the market in the foreseeable future.

Research and Developments in the coatings market including the natural materials from palm oil for instance, may influence market demand and increase market potential over the forecast period. Biomimetic-Innovation-Centre (B-I-C), in July 2011, developed a new harmless antifouling coating using palm seed.

Market Segment:

Application Outlook (Volume Tons, Revenue, USD Million, 2012 - 2022)

        • Shipping Vessels

        • Drilling Rigs & Production Platforms

Regional Outlook (Volume Tons, Revenue, USD Million, 2012 - 2022)

        • North America

            • U.S.

        • Europe

            • Germany

        • Asia Pacific

            • China

        • Latin America

            • Brazil

        • Middle East Africa (MEA)

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Stretchable Conductive Material Market Opportunities, Challenges, Strategies And Forecast Report till 2025

September 17, 2021: The global stretchable conductive material market size was valued at USD 434.7 million in 2016 and is expected to reach USD 3.4 billion by 2025, with a CAGR of 25.7%. Stretchable conductive material/devices have gained much popularity in recent years due to the emergence of new technology fields such as stretchable electronics, intelligent robotics and wearable devices. For example, advanced robots are treated with keen sensory skins so that they can interact well with humans and respond properly to the surrounding environment without external control. On the basis of conductor material, the global stretchable conductive material market is segmented into graphene, carbon nanotube, copper, and silver.

To keep pace with the growing need for new technology, the hunt for new materials with higher electrical conductivity and good elasticity have emerged. Though, polymers offer good features for operations and are widely deployed in plastic electronics their widespread use is limited due to poor mechanical properties.

On the other hand, elastomers such as natural rubber, styrene butadiene rubber, ethylene-diene monomer and polyurethane possess characteristics such as high and reversible deformation. Conventionally, elastomers have been specifically used for structural, industrial and household products. Further, two types of metal structures are widely explored as stretchable conductors.

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At the commercial level, the global stretchable conductive material market thrives on engineered functional ink formulations for printed electronics. With much developing and advancement in flexible large-area electronics such as flexible displays and sensors, the market growth witnesses a trajectory path during the forecast period. Thus, the market dynamics and driving factors result into a healthy CAGR growth during the assessment period.

The key driving factors responsible for the growth of stretchable conductive material market includes growth in use of stretchable conductors and developments in design in consumer electronics. Additionally, factors such as use of materials and assembly techniques and enhancement in operational speed due to miniature size of electronic products propel the stretchable conductive material market during the forecast period. However, less lifespan of stretchable circuits and consumption of time and laborious manufacturing process are some restraining factors for market growth.

On the basis of application, the global stretchable conductive material market is segmented into wearables, photovaltics, biomedical and cosmetic. Wearables application segments anticipated to grow at a higher CAGR during the forecast period owing to growth in demand for wearable device

On the basis of geographic segmentation, the global stretchable conductive material market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. North America dominates the global market in terms of market size. APAC regions are likely to grow at a higher CAGR during the forecast period owing to rise in number of players and high number of wearables& biomedical applications.

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The key players in the global stretchable conductive material market include 3M company, DuPont & Co, Applied Nanotech Inc, Indium Corporation, Toyobo Co Ltd, Lotte Advanced Materials Co Ltd, Textronics Inc, National Insititute of Advanced Industrial Science and Technology, Vorbeck Materials Corp.

Market Segmentation:

Stretchable Conductive Material Product Outlook (Revenue, USD Million, 2014 - 2025)   

    • Graphene

    • Carbon Nanotube

    • Silver

    • Copper

Stretchable Conductive Material Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Wearables

    • Biomedicals

    • Photovoltaics

    • Cosmetics

Stretchable Conductive Material Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • Germany

    • Asia Pacific

        • China

        • Japan

    • Central & South America

        • Brazil

        • Mexico

    • Middle East & Africa

        • Africa

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Specialty and High Performance Films Market Overview, Trends, Competitive Landscape, Growth Outlook And Forecast till 2024

September 16, 2021: The global specialty and high performance films market size was USD 32.61 Billion in 2015 and is expected to reach USD 57.26 billion by 2024. Increasing demand for high tensile and durable packaging materials coupled with properties such as chemical resistant is expected to drive the market growth over the forecast period. These films are majorly used in packaging market for food and beverages, construction industries and decorative interiors. Thus increasing demand for these markets is expected to positively affect the market growth of performance films.

Growing need for electronics and solar PV coupled with increasing applications is expected to steer the market growth.These films are extensively used in semiconductors and PV cells Technological innovation and advancements of material films are anticipated to boost the market demand  Specialty & high-performance films are made of engineered and composite plastic materials produced from different polymers including fluoropolymer, polycarbonate and polyester and exhibit exceptional properties such as chemical stability, resistance to heat, high barrier and tensile strength. The major factor that pose a challenge to the market is expected to the fluctuating prices of raw materials including naphtha and crude oil.

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Growing environmental concerns and increasing regulations on the use of plastics is expected to restraint market growth over the next six years. Innovation and development of reusable engineered plastics and increasing demand for biodegradable plastic film is anticipated to generate future opportunities for the industry players. On the basis of polymer type the global market has been segmented into nylon, fluoropolymers, polycarbonate, polyesters, polypropylene, and polyethylene. Polyester film is expected to have the largest share in the market owing to its excellent flexible and thermal properties. Nylon and polycarbonate are expected to be the fastest growing segments in the market. Polycarbonate is a transparent film that can be easily thermoformed and molded. It also provides excellent ink adhesion and is widely being used in graphic, blended and light diffusing films.

Fluoropolymers are expected to have low growth rate over the forecast period due to increasing regulations for halo polymers by environmental protection agency and REACHGrowing demand for bio based materials is anticipated to producenew dynamic product trends in the future. On the basis of applications, the specialty and high performance films has been segmented into Safety and security, Microporous, Barrier, Decorative. Other niche applications include water soluble, Biodegradable, and light control. Barrier is expected to constitute the highest market share owing to increasing demand for these films in semiconductor insulators and solar PV modules. Growing adoption of renewable forms of energy sources such as solar panels to generate electricity is expected to be the driving factor for the market growth in this segment.

Microporous and decorative films are expected to witness high growth rate over the forecast period owing to growing demand for food processing, interior decoration and long lasting electronics lamination are expected to steer the demand of these films over the forecast period. Increasing investments in research and development coupled with growing adoption of biodegradable plastics is expected to form an opportunity for the market growth in the future.

On the basis of end use segment, the global market has been segmented into Automobile, Personal care products, Packaging, Electrical & electronic, and Construction. Other segments include shopping bags and Sportswear. Packaging industry has been the largest end use segment accounting over 65% of the total market share in 2012.Growing demand for flexible packaging in consumer goods and food industry coupled with consumer awareness for better hygiene products is anticipated to steer the market demand of specialty films.

Electrical and electronic industry is expected to witness significant growth rate owing to growing investments in technical and new electronic devices for high and efficient performance. The growing application of light and safety control films in construction industry is expected to achieve anoptimistic outlook on high performance films. Asia Pacific is expected to have the highest share in the global market and is expected to continueits dominance in the next seven years. Increasing manufacturing facilities of automotive industrycoupled with growing electronics manufacturing bases is expected to steer the market growth in this region. Favorable government regulations and presence of key raw material manufacturers of specialty films can be attributed as one of the major factor driving the market.Growing demand for processed and frozen food & beverages in Europe and North America is anticipated to boost market demand for high-performance films.

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Key industry players in the market include Dow Chemicals, Bemis Company Inc. Evonik Industries, and Honeywell. Other industry participants are DuPont, Bayer, 3M, Sealed Air Corporation and Eastman. The market is highly fragmented with the presence of many manufacturers competing globally. Overall profitability is expected to be low owing to high industry rivalry Global vendors compete by application development and product differentiation.

Market Segment:

Specialty And High Performance Film Market Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)

        • Polyester

        • Nylon

        • Fluoropolymer

        • Polycarbonate

        • Others

Specialty And High Performance Film Market Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)

        • Barrier

        • Safety and security

        • Decorative

        • Microporous

        • Others

Specialty And High Performance Film Market End-Use Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)

        • Packaging

        • Personal care products

        • Electrical & electronic

        • Automobiles

        • Construction

        • Others

Specialty And High Performance Film Market Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)

        • North America

            • U.S.

            • Canada

        • Europe

            • Germany

            • UK

        • Asia Pacific

            • China

            • Japan

            • India

        • Latin America

            • Brazil

        • Middle East and Africa

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

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Borage Oil Market Opportunities, Challenges, Strategies And Forecast Report till 2024

September 16, 2021: Global borage oil market was estimated at 1,500 tons in 2015. Nutraceuticals and bio-based cosmetics are anticipated to be the key factors influencing market growth over the forecast period. The global borage oil market is anticipated to reach USD 54.9 million by 2024. High gamma linolenic acid (GLA) content has resulted in high demand for Borage (starflower) oil despite several other plant oils including evening primrose oil and black currant seed oil containing GLA and providing similar health benefits, borage oil has gained prominence owing to higher GLA content compared to its counterparts. For instance, black current seed oil contains nearly 14% to 17% and evening primrose contains approximately 10% to 15%. On the other hand, GLA content in borage oil is approximately 20% to 25%. GLA is rich in omega-6 fatty acid which is essential for the human body, but the human body is incapable of producing the same by itself which necessitates the external supply of GLA. Borage oil benefits consumers by effectively treating and preventing health disorders pertaining to fatty acid metabolism.

Borage crop is cultivated in several countries for its seed oil. Majorly produced in Canada, New Zealand and the UK, in earlier times it was considered to belong only to the Mediterranean region. The borage oil production varies widely with some years of oversupply and some years of under-supply. Canada, which is one of the major borage seed producers has been highly unstable in the recent times. Favorable weather conditions in Canada have benefitted borage growers to a great extent as it helps them grow good quality seeds at lower costs. Nevertheless, there is a high risk of crop failure due to erratic early frost in the region. Borage seed prices lie in the range of USD 2.5 to 4 per kg and the production varies between 500 to 2000 tons per annum. Such high variations in the raw material supply and their prices are anticipated to be the major restraining the factor affecting market growth.

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Application Insights

In 2015, medical application segment constituted for more than 35.0% of the overall borage oil demand. Borage oil aids in the treatment of serious diseases including obesity, eczema, rheumatoid arthritis, heart disease, premenstrual syndrome, cough, stroke, depression, asthma and diabetes.

Borage oil is used as a combination with other base oils in the nutraceutical segment. Additionally, it is used as anti-inflammatory drugs. With the market growing at a CAGR of above 5%, along with being the largest segment, the medical sector is anticipated to be the fastest-growing application over the forecast period. Further, borage oil capsules that have several health benefits are also available in the market.

Borage oil is widely used in the cosmetics segment including cleansers, moisturizers, skin care and anti-aging products, hair treatment and body care owing to their antioxidant and anti-inflammatory properties. It is used as food additives in functional foods, meal supplement and breakfast cereals.

Regional Insights

Borage oil has widespread usage across cosmetics and pharmaceuticals industry witness major demand in the Asia Pacific region. Asia Pacific borage oil market dominated the market and contributed to over 30% of overall demand in 2015. This huge demand can be ascribed primarily to growing production levels of pharmaceutical drugs, cosmetics and nutraceuticals. Pharmaceutical and cosmetic manufacturers have been focusing on developing countries such as India, China and Indonesia as their major manufacturing units. This has propelled demand for raw material supplies in the region.

Borage oil market in North America is anticipated to be driven on account of growing demand for natural and organic cosmetics. North America starflower oil market is projected to grow at an estimated CAGR exceeding 5% in the next eight years. Constant efforts by research institutions in order to identify the medical potential of borage oil are anticipated to improve the overall consumption level from 2016 to 2024. Additionally, the region has been concentrating on enhancing starflower oil consumption in food application such as functional food additives and dietary supplements.

Europe is a prime location for borage oil production owing to its favorable soil and weather conditions. High GLA and oil content in UK grown starflower make it the best quality seed available in the market. The presence of large skincare and haircare producers including Unilever and L’Oréal are expected to serve the European market and result in high starflower oil demand over the forecast period. These companies have been emphasizing on bio-based cosmetic development that is expected to augment market demand.

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Competitive Insights

Global borage oil industry is fragmented in nature on account of the presence of several small-scale manufacturers. Borage oil manufacturers attempt to procure good quality seeds produced in Canada and UK in order to achieve a competitive edge as high-quality oil is ideal for premium applications. Major borage oil manufacturers include Connoils LLC., Aromex Industries, Desert Whale Jojoba Company, Oilseed Extraction, K. K. Enterprise, Nordic Naturals, AOS Products Pvt. Ltd., IcelandirectInc and Soyatech International Pvt. Ltd.

Market Segmentation

Global Borage Oil Application Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2024)

    • Cosmetics

    • Medical

    • Dietary Supplements

    • Others

Global Borage Oil Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2024)

    • North America

        • U.S.

    • Europe

        • Germany

        • France

        • UK

    • Asia Pacific

        • China

        • India

        • Japan

    • Middle East & Africa

    • Central & South America

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