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A comprehensive analysis on the fine hydrate market by Future Market Insights (FMI) provides in-depth insights into governing factors fueling the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of application across seven regions over the next 10-years.
DUBAI , UAE, Dec. 7, 2021 /PRNewswire/ -- As per a recent study by FMI, the global fine hydrate market is estimated to reach US$ 371.6 Mn in 2021. Increasing use of fine hydrate as fillers in cables & wires, cross-linked elastomers, insulation, polyester resins, and epoxy resins is propelling the demand in the market.
Historically, the fine hydrate market grew at 2.7% CAGR between 2016 and 2020. However, rising adoption of fine hydrate in the production of engineered plastic and thermoplastics is fueling the demand in the market.
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Hence, increasing demand for these plastics across automotive and consumer electronics, owing to their lightweight and durability is anticipated to boost the market. As per FMI, the market is poised to expand at 7.2% CAGR during the forecast period from 2021 and 2031.
Further, fine hydrates are non-toxic, halogen-free, non-corrosive, and excellent flame retardant which imparts at relatively high temperatures. Attributed to these properties, they are finding a wide range of applications in paints and coatings, adhesives, fire hydrants, varnishes, and polyvinyl chloride (PVC) sectors, which is in turn, boosting the market.
In addition to this, increasing use of fine hydrate as a substitute to titanium dioxide in the production of pigments is estimated to accelerate the sales at year-over-year growth of 7.40% through 2021.
Based on applications, the cable compound is projected to remain the dominant segment in the market for the assessment period. Surging applications of fine hydrates in insulating and jacketing compounds for wires with varying voltage requirements are favoring the growth in the segment.
"With the introduction of nanotechnology, key players in the market are emphasizing on introducing novel product using fine hydrates and nanoclays to reduce the flammability of matrices and enhance the quality of non-halogenic fire retardants. This is expected to accelerate the growth in the market in forthcoming years," says a FMI analyst.
Key Takeaways from Fine Hydrate Market Study
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As per FMI, leading players operating in the global fine hydrate market are Huber Engineered Materials, Nabaltec AG, Hindalco Industries Ltd., Aluminum Corporation of China Ltd., and Suimoto Chemicals Co. Ltd. As per FMI, these companies are projected to account for around 55% to 60% of the total market share in 2021.
Key manufacturers are aiming at collaborations, mergers, acquisitions, joint ventures and partnerships to expand their production facilities. To gain a competitive edge in the market, some of the players are investing in research and development (R&D) activities to improve their product portfolios. For instance,
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Some of the key players operating in the market profiled by FMI are:
More Valuable Insights on Fine Hydrate Market
The latest report by FMI provides a detailed analysis of the global fine hydrate market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in fine hydrate market with detailed segmentation:
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Key Questions Covered in the Report
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S. and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights, 1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A, Jumeirah Lakes Towers, Dubai , United Arab Emirates For Sales Enquiries: [email protected] For Media Enquiries: [email protected] Website: https://www.futuremarketinsights.com/ Report: https://www.futuremarketinsights.com/reports/fine-hydrate-market Press Release Source: https://www.futuremarketinsights.com/press-release/fine-hydrate-market
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