attention of many international players.
The growth in the market is driven by
emergence of the middle class in India,
growing infrastructure, increase in the
tendency to spend and growing young
population inclined towards lavish life-
style. On the back of such advocacy, it
is anticipated that the sector will post a
CAGR of approximately 16. 2 percent
during 2013-14 to 2015-16, according
to the new research report, “Booming
Paint Industry in India.”
This research is an outcome of ex-
tensive primary and secondary research
spanning more than months and thor-
ough analysis of industry trends. For
the study, Research and Markets con-
ducted F2F and telephonic interviews
with industry experts such as members
of Indian Paint Association and Paint
manufacturers. In addition, the author
also interviewed more than 200 paint
dealers and consumers all over India to
embrace various aspects of the industry
trends in the report.
The various types of decorative paints
have been further analyzed to understand
the market size and future potential of
various sub-segments such as plastic
emulsions, textured emulsions, synthetic
enamels, acrylic distempers, etc. The
report also classifies decorative paint
market by product class which includes
premium paints, mid-tier paints and economy paints. Presently, the growth of the
Indian paint industry is being witnessed
from new demand pockets, especially in
Tier-II and Tier-III cities, thus, signalling
the growing acceptance of quality products among the masses. The analysts have
closely studied and provided market forecast till 2015-16 of all sub-segments and
product class.
With the growth of paint industry, the
market for raw material is also intensifying in India. A comprehensive analysis
and forecasting till 2015-16 of raw material market is also included mainly focusing on major segments such as pigments,
solvents, binders and additives.
Companies mentioned in the report
include AkzoNobel India, Asian Paints
Limited, Berger Paints India Limited,
Kansai Nerolac Paints Limited and
Shalimar Paints Limited.
Allied Market Research
Finds Global Bio Succinic
Acid Market to Reach
Market Volume of 710 KT
by 2020
Allied Market Research reports that the
U.S. Department of Energy (USDOE) considers succinic acid as one among the top
twelve chemical building blocks. Succinic
acid, as a platform chemical, is growing in demand in various applications.
However, consumption of petroleum
based succinic acid, as an intermediate, in
manufacturing various chemicals, is limited due to its volatility of price and carbon footprints. These concerns led to the
discovery of biological manufacturing of
succinic acid. The bio succinic acid market is forecast to grow at a significant rate
over the next seven years, according to a
study from Allied Market Research. The
major drivers for this growth will be volatility in fossil fuel prices, rise in carbon
footprints and an interest in using locally
available raw materials. Furthermore, increasing global demand of green chemicals will trigger its adoption in wide range
of applications, especially, in bio plastics,
making it a strong platform chemical.
Bio succinic acid is primarily being
used as a replacement for petrol based
succinic acid in few applications such
as solvents and lubricants, de-icer solutions, cosmetics, food and pharma.
Furthermore, newer application such as
1,4-Butanediol (BDO), PBS, plasticizers
and polyesters polyols market will accelerate the future growth of the market.
Additionally, higher cost of crude oil,
increase in investments for green chemicals, demand for renewable chemicals,
and increase in government support will
further boost the growth of the market.
However, higher price of bio succinic acid
and lengthy extraction processes are primarily restraining the market growth for
the next few years. The global bio based
succinic acid market is expected to reach
market volume of 710.0 kilo tons by
2020, growing at a CAGR of 45.6% during 2013-2020.
Various industrial application mar-
kets analyzed in the study includes BDO,
polyester polyols, PBS, plasticizers, res-
ins, coatings, and pigments, solvents
and lubricants, alkyd resins and
de-icer solutions. The resins,
coatings and pigments market
generated maximum revenue
in the year 2013. However, seven years
down the line, BDO is expected to emerge
as the largest application segment. This is
largely due to higher consumption of bio
succinic acid in the production of BDO,
as a replacement of maleic anhydride.
It is estimated that 1. 2 MT of bio succinic acid is needed to replace 1 MT of
maleic anhydride.
Among the four geographic markets,
namely North America, Europe, Asia
Pacific and Ro W; Europe was the largest
consumer of bio succinic acid in 2013.
Stringent regulations in Europe towards
carbon footprints have enabled significant application of bio succinic acid in
various chemical manufacturing units.
However, Asia Pacific will be the fastest
growing market with an expected CAGR
of 49. 5 percent during 2013 to 2020.
The major companies profiled in this
report include BioAmber, Myraint, DSM,
Mitsui & Co, Mitsubishi, BASF, Roquette
Frerse S.A, Purac and Reverdia.
Bio-Based Materials and
Chemicals Capacity to
Reach 13. 2 Million MT in
2017, Predicts Lux Research
Bio-based material and chemical (BBMC)
technologies have reached an inflection
point with companies scaling to commercial production levels and growing
revenues, according to Lux Research.
The leading growth category will be intermediate chemicals like adipic acid and
lactic acid, with capacity growing from
2.0 million metric tons (MT) to 4. 9 million MT in 2017, while the capacity of
bio-derived polymers – currently at 1. 1
million MT – will grow 18 percent per
year through 2017.
“The basic science of bio-based materials and chemicals has advanced to the
point that dozens of chemicals can now
be produced from multiple feedstocks, at
costs that are competitive with petroleum,
at least in theory and at scale,” said Julia
Allen, Lux Research analyst and the lead
author of the report titled, “Cultivating
Capacity for Bio-based Materials and
