Chemical Industry Market Forecast 2023-24

Building Thermal Insulation Market

The building thermal insulation market is projected to reach USD 35.3 billion by 2027, at a CAGR of 4.7%. Building thermal insulation is used to reduce the amount of energy required to heat or cool a house and minimize the amount of heat that escapes during the winter and limits the hot summer air to penetrate the house.

Heat Transfer Fluids Market

The heat transfer fluids market is projected to reach USD 5.8 billion by 2027, at a CAGR of 9.3%. The increasing number of concentrated solar power plants with the rising demand for clean energy drives the growth of the HTF market.

Protective Coatings Market

The protective coatings market is projected to reach USD 17.8 billion by 2026, at a CAGR of 5.2%. The civil building and infrastructure, by end use industry in APAC region is expecting a boom in the forecasted period and will lead to an increase in the demand for Protective Coatings.

Hot Melt Adhesives Market

The hot melt adhesives market is projected to reach USD 11.4 billion by 2027, at a CAGR of 4.8%. The packaging solutions, by application type in Asia Pacific region is expecting a boom in the forecasted period and will lead to an increase in the demand for HMA.

Injection Molding Machine Market

The injection molding machine market is projected to reach USD 12.4 billion by 2027, at a CAGR of 3.6% between 2022 and 2027. Increased demand for injection molding equipment in end-use sectors including automotive, consumer goods, packaging, healthcare, electrical and electronics, and others is the key factor driving the market. The market for injection molding machines will be driven by elements including rising healthcare demand, quick industrialisation in developing nations like China, India, and Thailand, and rising need for plastic moulds in electric vehicle production.