Global Acetylene Market

Plastic Material and Resins Market Definition

The plastic material and resins manufacturing market consists of the sales of plastic material and resins by entities (organizations, sole traders or partnerships) that produce resins, plastic materials, and non-vulcanizable thermoplastic elastomers and mix and blend resins on a custom basis and/or produce non customized synthetic resins. Plastic materials refer to a large class of polymers, which consist of a range of synthetic or semi-synthetic compounds that are malleable and can be molded into solid objects of diverse shapes. The basic structure of plastics is given by macromolecule chains formulated from monomer units by chemical reactions. Typical reactions for chain assembling are poly addition (continuous or step wise) and condensation polymerization (poly condensation). The monomer units are organic carbon-based molecules. Beside carbon and hydrogen atoms as main components, the monomer unit may contain elements such as oxygen, nitrogen, sulfur, fluorine or chlorine. The type of elements, their proportion and placing in the monomer molecule give the basis for generating different types of plastics. Plastic materials such as thermoplastics have a high coefficient of expansion and heat resistance and can be melted and recast almost indefinitely. Plastic materials exhibit high insulation properties. The specific gravity (the index of refraction and moisture absorption) of plastics is small, and it varies depending on the character of high polymer, or thermal and mechanical treatment of the plastic. Examples of plastic materials include polyethylene terephthalate, high-density polyethylene, polystyrene and polyvinyl chloride. Plastic materials are widely used in the automotive, building and construction, electronics, healthcare, and packaging industries, due to their relatively low costs, ease of manufacture, versatility, and rigidity properties.

The 3D printed medical prosthetics market consists of sales of 3D printed medical prosthetics devices and related services. 3D printing technology is used to create an artificial three dimensions’ physical object with the help of computer-aided design, and these prosthetics are intended to help patients with missing or defective body parts to restore normal functions. The main types in the 3D printed medical prosthetics are sockets, limbs, joints, covers, and others. The prosthetic limbs are used as artificial limbs for those who need limbs. These are made up of various materials such as polypropylene, polyethylene, acrylics, and polyurethane. These are used by end-users such as hospitals, rehabilitation centers, and prosthetic clinics. The global 3D printed prosthetics market size is expected to grow from $0.88 billion in 2021 to $0.96 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The global 3D printed prosthetics market size is expected to grow to $1.33 billion in 2026 at a CAGR of 8.5%. The rising number of accidental injuries is driving the growth of the 3D printing prosthetic devices market. Accidental injuries can cause serious damage to a person, and these injuries can sometimes lead to amputation. In 2019, car crashes in the US resulted in the death of 38,800 people. According to a report from National Centre for Health Statistics, approximately 50,000 new amputation cases come up each year in the US. An increase in incidences of other medical conditions such as diabetes and vascular diseases is also leading to a rise in amputation cases, thus boosting the sales of 3D printing prosthetics. For instance, according to a report published in the American Journal of Managed Care, it was estimated that, globally, one patient leg is amputated every 30 seconds and around 85% of these amputations were a result of a diabetic foot ulcer. The delay in elective procedures attributed to the coronavirus outbreak is to act as a major factor to limit the growth of the 3D printed medical prosthetics market. Many countries and hospitals have diverted their healthcare resources to deal with COVID-19 patients. For instance, according to the Centers for Medicare & Medicaid Services (CMS) safety guidelines released in March 2020, all the elective and non-essential surgical, dental, and medical procedures are delayed in the USA during the 2019 Novel Coronavirus (COVID-19) outbreak. Hence, the delays in surgical or elective procedures are projected to decline the demand for the 3D printed medical prosthetics market shortly. Companies in the 3D printing prosthetics market are focusing on the development of waterproof prosthetic devices. The aim behind this innovation is to provide the user with an increased range of mobility, especially in athletics. In October 2020, Braskem, Americas leading producer of biopolymers has launched Braskem e-NABLE Chapter for Philanthropic Creation of 3D Printed Prosthetic Devices. Braskem was selected to be certified to produce the e-NABLE Phoenix V3 prosthetic hand as it is one of the most commonly produced e-NABLE prosthetic devices. Major players in the 3D printing medical prosthetics market are 3D Systems Corporation, EnvisionTEC, Stratasys Ltd., Bionicohand, YouBionic, UNYQ, Mercurys, LimbForge Inc., Open Bionics, Protosthetics, and Create Prosthetics. North America was the largest region in the 3D printing medical prosthetics market in 2021. Asia Pacific was the second-largest region in the global 3D printing medical prosthetics market. The regions covered in the global 3D printed medical prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the 3D printing medical prosthetics market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA The global 3D printed prosthetics market is segmented - 1) By Material: Polypropylene, Polyethylene, Acrylics, Polyurethane 2) By Type: Sockets, Limbs, Joints, Covers, Other Types 3) By End-User: Hospitals, Rehabilitation Centers, Prosthetic Clinics

The structural steel fabrication market consists of sales of structural steel fabrication services and related products by entities (organizations, sole traders, and partnerships) that refer to a set of activities conducted to convert raw materials into different shapes by steel fabricators. Structural steel fabrication is the process of cutting, bending, shaping, and assembling steel into various structures with predetermined sizes and shapes designed for assembly into buildings, industrial equipment, tools, and various other final products. The main types of services in structural steel fabrication are metal welding, machining, metal forming, metal cutting, metal shearing, metal folding, metal rolling, metal punching, and metal stamping. Metal Shearing is a fabrication process used to trim or remove unwanted material from the metal, primarily used for cutting the metal into smaller sizes and different shapes. The various products include carbon steel, alloy steel, stainless steel, tool steel, others and are used by aerospace, automotive, construction, defense, electronics, energy and power, manufacturing, mining, others. The global structural steel fabrication market size is expected to grow from $123.08 billion in 2021 to $141.72 billion in 2022 at a compound annual growth rate (CAGR) of 15.1%. The global structural steel fabrication market size is then expected to grow to $211.76 billion in 2026 at a CAGR of 10.6%. The growing construction industry is expected to propel the growth of the structural steel fabrication market going forward. The construction industry is rising as a result of ongoing urbanization, impending infrastructural projects, and a growing population base. The construction sector uses structural steel for a variety of products due to its strength, durability, tensile strength, and low cost. It is the ideal option for designing and fabricating high-rise buildings, residential buildings, bridges, and other structures. For instance, according to the global construction review report published in 2021, construction will be a driving force in global economic growth in the decade to 2030, with output estimated to be 35% greater than in the previous ten years to 2020. Hence, the growing construction industry will drive the growth of the structural steel fabrication market. The introduction of CNC Plasma cutting machines by steel fabricators in their manufacturing plants for precise steel cutting is a major trend gaining popularity in the structural steel fabrication market. In a CNC plasma machine, a plasma cutter is employed to cut thin to thick metals along a multi-axis grid. The CNC technique has an advantage over handled plasma cutting devices since the cut is programmed and controlled by a computer rather than human actions. For instance, in April 2021, Salasar Techno Engineering, an India-based company that provides steel fabrication, has opened a new structural steel fabrication plant in Uttar Pradesh, India. Salasar's new facility includes high-precision robotic multi-torch CNC plasma cutting equipment. The facility will fabricate heavy structural steel for power plants, metro stations, bridges, PEB buildings, warehouses, airport hangers, high-rise buildings, and process plants. In June 2021, DBM Global Inc., a US-based infrastructure company acquired Banker Steel Holdco LLC for an undisclosed amount. The acquisition of Banker Steel will significantly improve DBM's capacity to capitalize on significant infrastructure and commercial possibilities in America. Banker Steel Holdco LLC is a US-based producer of fabricated structural steel components for infrastructure and commercial projects. Major players in the structural steel fabrication market are O'Neal Manufacturing Service, BTD Manufacturing, EVS Metal, Defiance Metal Products, LancerFab Tech Pvt. Ltd, Mayville Engineering Company, Watson Engineering, Tata Steel, Zamil Steel Buildings India Private Limited, Sujana Group, Apex Buildsys Limited, Ironform Holdings Co., Bohai Group, Anyang Group Co. Ltd, Wuhan Group, POSCO, Hebei Group, Baogang Group, Gerdau S.A., JSW Steel, POSCO, Taylor and Watson Ltd, STI Group, Richard L. Sensenig Company, Structural Steelworks & Engineering Ltd., Structural Fabrications Ltd, Lenex Steel, and Steel LLC. Asia Pacific was the largest region in the structural steel fabrication market in 2021. The regions covered in the global structural steel fabrication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the structural steel fabrication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global structural steel fabrication market is segmented - 1) By Service: Metal Welding, Machining, Metal Forming, Metal Cutting, Metal Shearing, Metal Folding, Metal Rolling, Metal Punching, Metal Stamping 2) By Product: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel 3) By End-User: Aerospace, Automotive, Construction, Defense and Aerospace, Electronics, Energy and Power, Manufacturing, Mining, Others

The metal working machinery market consists of sales of metalworking machinery by entities (organizations, sole traders, and partnerships) that produce metal working machinery. The main types of metalworking machinery are special die and tool, die set, jig, and fixture, machine tool, industrial mold, rolling mill, and other metalworking machinery, and cutting tool and machine tool accessory. Industrial mold refers to the molding or shaping of a liquid or raw material. The various capacity includes small, medium, and large. These are used in automotive, manufacturing, and other applications. The global metalworking machinery market size is expected to grow from $230.48 billion in 2021 to $254.79 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The global metalworking machinery market size is expected to grow to $364.92 billion in 2026 at a CAGR of 9.4%. The metalworking machinery manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the metalworking machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the metalworking machinery manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Machinery manufacturers are offering advanced 6-axis CNC milling machines to efficiently fabricate complex components. CNC milling is a specific type of computer numerical controlled (CNC) machining. This involves the use of computers to control machine tools like lathes, mills, routers, and grinders. The 6-axis CNC machine converts a raw metal bar into the final product by turning from both ends of the fixture. This offers high-quality products while minimizing errors. CNC milling helps in the short-run production of complex parts and the fabrication of unique precision components. Major companies manufacturing 6-axis CNC milling are Yamazaki Mazak, DMG MORI, ERLO, Giben International, Haas Automation, Knuth Machine Tools, IMSA. Major companies in the metalworking machinery market include Sandvik AB, Berkshire Hathaway Inc, TRUMPF Group, Mitsubishi Heavy Industries Ltd, Amada Co. Ltd, Toyota Tsusho, Colfax Corporation, Fanuc Corp, Okuma Corporation, and Taiyo Nippon Sanso Corporation. Asia Pacific was the largest region in the metalworking machinery market in 2021. Western Europe was the second largest region in the global metalworking machinery market. The regions covered in the global metalworking machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the metalworking machinery market report include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global metalworking machinery market is segmented - 1) By Type: Special Die and Tool, Die Set, Jig, and Fixture, Machine Tool, Industrial Mold, Rolling Mill and Other Metalworking Machinery, Cutting Tool and Machine Tool Accessory 2) By Capacity: Small, Medium, Large 3) By Application: Automotive, Manufacturing, Others Subsegments Covered: Dies, Stamping and Other Tools, Jigs and Fixtures, Metal Cutting Tools, Metal Forming Tools, Metal Molds, Other Material Molds, Wire Drawing and Fabricating Machinery, Coil Winding and Cutting Machinery, Rolling Mill Machines, Other Rolling Mill and Other Metalworking Machinery, Metalworking Knives and Bits, Measuring Attachments, Metalworking Drill Bits, Machine Tool Taps and Dies

The welding equipment, accessories, and consumables market consists of sales of welding equipment, accessories, and consumables by entities (organizations, sole traders, and partnerships) that refer to a set of activities used in the welding industry. The welding is the process of joining metals and thermoplastics for creating strong joints between two or more parts by means of coalescence. The filler metals melt during the process and Flux is used as a deoxidizer. These flux and filler metals together are known as welding consumables and are used in various applications and industries. The main technologies used in welding equipment, accessories, and consumables market are arc welding, oxy-fuel welding. The Arc Welding is a type of welding process which uses an electric arc to create heat to melt and join metals and in consumable it does not only act as a filler during the heating but also helps in stabilizing the flame. The various types of equipment used are welding electrode, filler metal and oxy-fuel gas. The welding equipment, accessories, and consumables are used by end users such as in automotive, building and construction, heavy engineering, railway & shipbuiding, oil & gas and others. The global welding equipment, accessories and consumables market size is expected to grow from $21.47 billion in 2021 to $23.08 billion in 2022 at a compound annual growth rate (CAGR) of 7.52%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The welding equipment market is expected to reach $31.17 billion in 2026 at a CAGR of 7.80%. The growing demand for the steel industry is expected to propel the growth of the welding equipment, accessories, and consumables market. The increased demand for welded metals in the fabrication industry and the use of welding equipment is used for applications such as stick welding, tungsten inert gas (TIG) welding, and metal inert gas (MIG) welding. For instance, according to the American Iron and Steel Institute, as of January 2022, in the United States, the domestic raw steel production stood at 1,803,000 net tons while the capability utilization rate was 81.9%. Also, according to IBEF, in FY2021, in India, the production of crude steel and finished steel stood a 102.49 MT and 94.66 MT, respectively. Therefore, the growing demand for the steel industry is driving the growth of the welding equipment, accessories, and consumables market. Technological advancements is a key trend gaining popularity in the welding equipment, accessories, and consumables market. Technological advancement is a discovery of knowledge that advances technology. For instance, in February 2021, Lincoln Electric, a US-based manufacturer of welding, cutting, and brazing products have introduced the new diesel engine-driven welder named Vantage 441X. The Vantage 441X welder/generator is loaded with features to help keep job sites welding at peak performance. It has been equipped with a 41hp, turbocharged Perkins diesel engine, 100% duty cycle DC welding output that provides enhanced power and performance along with fuel efficiency. In March 2020, Voestalpine Bohler Welding, a Germany-based manufacturer of welding consumables acquires Selco s.r.l. for an undisclosed amount. Through this acquisition, Voestalpine Böhler Welding is expected to further expand its market position after the successful launch of the welding machine series. Also, the acquisition would strengthen Voestalpine's position as a full welding solution provider in the welding industry, which would enable its customers to carry out best-in-class welds. Selco s.r.l. is an Italy-based manufacturer and distributor of welding machines. Major players in the welding equipment, accessories, and consumables market are Air Liquide S.A., British Oxygen Company, Bug-O Systems Inc., Carl Cloos Schweisstechnik, Cavagna Group, Colfax Corporation, Daihen Corporation, GCE Holding AB, Gentec (Shanghai) Corporation, Illinois Tool Works Inc, Kobe Steel Ltd, Koike Aronson Inc., Lincoln Electric, Linde Group and Matheson Tri-Gas Inc. Asia Pacific was the largest region in the welding equipment, accessories, and consumables market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the welding equipment, accessories and consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the welding equipment, accessories, and consumables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global welding equipment, accessories, and consumables market is segmented - 1) By Technology: Arc Welding, Oxy-Fuel Welding, Others 2) By Application: Automotive, Building and Construction, Heavy Engineering, Railway and Shipbuilding, Oil and Gas, Others 3) By Equipment Type: Welding Electrode, Filler Metal, Oxy-Fuel Gas

The construction elastomers market consists of sales of elastomers by entities (organizations, sole traders, and partnerships) that are synthetic polymers having elastic properties used in the construction industry. Elastomers are rubbery materials comprised of lengthy chainlike molecules or polymers which can be stretched to vast distances and still return to their original shape. Elastomers combine the benefits of both plastics and rubber, resulting in a new form that is used in a variety of construction applications. The strong impact and tear resistance of construction elastomers is utilized for roofing sheets and window profiles, building insulation, adhesives, gaskets, and door handle seals. The main types of construction elastomers are thermoset and thermoplastic. Thermosets are made of elastomeric materials that do not melt when heated. The main applications of thermoset elastomers in building and construction include adhesives and sealants, thermal insulation, roofing, flooring, piping, bridge structures, cementing, and repair and rehabilitation of civil structures. The different types of chemistry include styrene block copolymers (SBC), thermoplastic polyurethanes (TPU), styrene-butadiene (SBR), ethylene propylene diene monomer (EPDM), natural rubber, acrylic elastomer (ACM), butyl elastomer (IIR), others and is used in various applications such as residential, non-residential, civil engineering. The global construction elastomers market size is expected to grow from $4.75 billion in 2021 to $5.27 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The construction elastomer market is expected to reach $6.89 billion in 2026 at a CAGR of 6.9%. The increase in the demand for sustainable buildings is expected to serve as a major driver of the construction elastomer market in the forecast period. The goal of sustainable construction is to reduce the industry's environmental effect by implementing sustainable development methods, increasing energy efficiency, and adopting green technologies. Construction elastomers are environmentally benign, renewable, and secure to use for both residential and non-residential purposes. For instance, according to a survey conducted by the Royal Institution of Chartered Surveyors (RICS) and the World Built Environment Forum in 2021, 55% of respondents said demand for buildings considered ‘green’ or ‘sustainable’ had risen. In addition, Europe saw the greatest increase in demand, with 69% of respondents reporting higher demand. Even in the Middle East and Africa, where demand growth was the slowest, 39% of respondents said demand had increased. This will create a significant demand for the construction elastomers and thus will aid the growth of the market. The increase in investments by key players in the R&D of elastomers processing to improve its properties and development of the new product is a major trend in the construction elastomer market. Major companies operating in the construction elastomers market are focused on investing in research and development to meet customer demand and strengthen their position. For instance, in January 2020, Mallard Creek Polymers, a US-based producer of styrene acrylic emulsion polymers to the elastomeric roof coatings market launched Rovene 6120, an all-acrylic emulsion polymer for highly durable elastomeric roof coatings adhering to ASTM D 6083. In the same year, MCP acquired third-party confirmation that Rovene 6120 can be prepared to fulfill or surpass ASTM D6083, the Standard Specification for Liquid Applied Acrylic Coating Employed in Roofing. In December 2021, Pexco LLC, a Georgia-based specialty plastics extruder acquired Performance Elastomers Corporation (PEC) for an undisclosed amount. Through this acquisition, Pexco predicts broadening its silicone and thermoplastic elastomer product lines, as well as widening its abilities to include other high-performance polymer solutions, to provide even more value to their clients in the mobility, recreational vehicle, and truck aftermarkets, as well as enhancing into other businesses where these types of specialized products are needed. Performance Elastomers Corporation (PEC) is a US-based company that manufactures construction elastomers. Major players in the construction elastomers market are The Dow Chemical Company, Arkema S.A, BASF SE, Covestro AG, Huntsman Corporation, Tosoh Corporation, Evonik Industries AG, Mitsubishi Chemical Company, The Lubrizol Corporation, SIBUR, Teknor Apex Company, Dynasol Elastomers, Kraton Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation and Lanxess Ag Asia Pacific was the largest region in the construction elastomers market in 2021. North America was the second-largest market in the construction elastomers market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the construction elastomers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global construction elastomers market is segmented - 1) By Type: Thermoset, Thermoplastic 2) By Chemistry: Styrene Block Copolymers (SBCs), Thermoplastic Polyurethanes (TPU), Styrene-Butadiene (SBR), Ethylene Propylene Diene Monomer (EPDM), Natural Rubber, Acrylic Elastomer (ACM), Butyl Elastomer (IIR), Others 3) By Application: Residential, Non-Residential, Civil Engineering

The polyurethane market consists of the sales of polyurethane and related services which are used in foams as an insulation material, coatings, adhesives and sealants, and an elastomer. Polyurethane refers to a form of plastic polymer material which is used to produce modern, versatile, and safe consumer and industrial products that are environmentally friendly. Polyurethane is formed by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate in the presence of suitable catalysts and additives. They are also widely used in medical devices such as pacemakers, artificial hearts, and other blood-contacting applications. The main product types of polyurethane are coatings, adhesives and sealants, flexible and rigid foams, elastomers, and other product types. The adhesive is a substance that is capable of holding materials together in a functional manner by a surface attachment that is resisting separation. The raw materials are MDI, TDI, and polyols. The end-use industries are furniture, construction, electronics and appliances, automotive, footwear, and other end-use industries. The global polyurethane market size is expected to grow from $67.27 billion in 2021 to $78.01 billion in 2022 at a compound annual growth rate (CAGR) of 16.0%. The global PU market size is expected to grow to $136.65 billion in 2026 at a CAGR of 15.0%. The adoption of polyurethane in home furnishings is driving the polyurethane market. Furniture manufacturing companies are enhancing comfort, durability, health, and safety by using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding, and carpet underlay. Furthermore, with the introduction of an advanced manufacturing process, polyurethane form provides more uniform, predictable, and durable end products. For instance, according to American Chemistry Council, it is proven that FPF when compressed by 90% for 22 hours, could recover more than 90% of its original height, which is highly durable than any other form of furniture material. Moreover, completely cured polyurethane products are considered to be inert and safe and were concurred by the U.S. EPA (Environmental Protection Agency). The durability, comfort, and safety provided by polyurethane continue to be the major reasons for use in the furniture industry, thereby, driving the demand of the polyurethane industry going forward. Polyurethane providers globally faced uncertain environmental regulations in the historic period. These regulations are to reduce the emission of toxic air pollutants from the flexible polyurethane foam industry and mandate the installation of add-on control equipment at manufacturers’ sites. For instance, the Environmental Protection Agency (EPA) issued a regulation to reduce the emission of the toxic air pollutant methylene chloride from the flexible polyurethane foam market. All the polyurethane manufacturers have to comply with this regulation and eliminate the use of methylene chloride for the production of molded foam and rebond foam. Therefore, uncertain government regulations towards environment protection restrain the growth of the polyurethane market. Demand for sustainable products from the construction, automotive, and footwear industry is witnessing a rising demand for the manufacturing of bio-based polyurethane (PU) with rising awareness of environmental concerns worldwide. Bio-based polyurethanes (PU) are derived from biodegradable materials constituting a rich source of precursors for the synthesis of polyols and isocyanates. These chemicals are readily available at lower cost with less environmental impact and are highly biodegradable. In addition, with increasing commercialization and growing demand for flexible foam for car seats, headrests from major automotive OEMs, polyurethane manufacturers have shifted focus towards developing sustainable and environmentally friendly products of renewable materials, will drive the use of bio-based polyurethane products in various industries including construction, automotive, coating, and footwear. In January 2020, BASF announced a single-digit million-euro investment in the potential expansion of water-based polyurethane dispersions at its Castellbisbal site in Spain. The development will allow BASF to increase its production capacity by 30 percent. In May 2020, Covestro, a German-based polymer company, accelerated the expansion of its thermoplastic polyurethanes (TPU) business by raising its stake in the joint venture DIC Covestro Polymer Ltd. (DCP) from 50% to 80%. Both the parties agreed to not disclose any financial details of the transaction. The closing of the deal is planned for the early second quarter of 2019, subject to approval from the relevant authorities. The investment is part of Covestro’s expansion of its global TPU business. DIC Covestro Polymer Ltd. is a Japan-based supplier of thermoplastic polyurethanes. Major players in the polyurethane market are The Dow Chemical Company, BASF SE, Covestro, Huntsman Corp, Eastman Chemical Co, Mitsui Chemicals, Inc, DIC Corp, Nippon Polyurethane Industry Corp Ltd, Recticel S.A, and Woodbridge Foam Corp. Asia Pacific was the largest region in the polyurethane market in 2021. North America was the second-largest region in the global PUR market. The regions covered in the global polyurethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the polyurethane market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global polyurethane market is segmented - 1) By Product Type: Coatings, Adhesives and Sealants, Flexible and Rigid Foams, Elastomers, Others 2) By Raw Material: MDI, TDI, Polyols 3) By End-User Industry: Furniture, Construction, Electronics and Appliances, Automotive, Footwear, Others

The welding products market consists of sales of welding products by entities (organizations, sole traders, and partnerships) that manufacture welding products that use a filler material in the welding process for joining metals such as stainless steel, aluminium, nickel, and copper alloys, cobalt, and titanium. Welding products are the materials or consumables that are used to carry out the welding process to create parts and finished products for a wide range of industries. The main product types of welding products are stick electrodes, solid wires, flux-cored wires, saw wires and fluxes, and other product types. Stick electrodes are consumable used for repairing work and they are self-shielded and will cut down on the amount of equipment needed. The different types of technologies include arc welding, resistance welding, oxy-fuel welding, laser beam welding, and other technologies and are implemented in various applications such as the automobile and transportation sector, building and construction, marine, and other applications. The global welding products market size is expected to grow from $13.31 billion in 2021 to $14.79 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The global welding product market size is expected to grow to $19.18 billion in 2026 at a CAGR of 6.7%. The rapid expansion of the construction sector is expected to propel the growth of the welding products market in the forecast period. The construction sector is a very diverse industry that includes various activities such as infrastructure, buildings, and maintenance. Welding is mostly used in the production of structural frameworks from metal components. Welding is used for joining trusses, footers, steel I-beams and columns that maintain a building's walls, roof, and floors. For instance, according to the Intercontinental Exchange (ICE), a US-based technology company the global construction sector is expected to grow to $8 trillion by 2030. Therefore, the rapid expansion in the construction sector drives the growth of the welding products market. Technological advancement in welding products is a key trend gaining popularity in the welding products market. The key players in the welding products market are developing technologically advanced products with improved impact wear resistance and combined abrasion to meet industrial requirements. For instance, In May 2019, Castolin Eutectic, a Switzerland-based manufacturer of welding brazing and coating solutions launched new formulations for welding wire EnDOtec DO*327 and new electrode 6327 XHD using XHD technology. The welding wire EnDOtec DO*327 and new electrode 6327 XHD has high impact wear resistance and advanced combined abrasion properties that provide improved weldability, performance, and deposition rate. In May 2019, Lincoln Electric Holdings, Inc., a US-based manufacturer of welding products and equipment acquired 49.6% interest in Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) for an undisclosed amount. Through this acquisition Lincoln Electric Holdings, Inc advances its regional growth strategy. Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) is a Turkey-based manufacturer of welding consumables, arc welding equipment. Major players in the welding products market are The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works Inc, Kemppi Oy, Kiswel Inc, Obara Corporation, Senor Metals Pvt. Ltd, Tianjin Bridge Welding Materials Co. Ltd, ESAB, and Ador Welding Ltd. Asia Pacific was the largest region in the welding products market in 2021. The regions covered in the welding products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the welding products market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global welding products market is segmented - 1) By Product: Stick Electrodes, Solid Wires, Flux Cored Wires, Saw Wires and Fluxes, Others 2) By Technology: Arc Welding, Resistance Welding, Oxy Fuel Welding, Laser Beam Welding, Others 3) By Application: Automotive and Transportation, Building and Construction, Marine, Others