$8.2B Textile Finishing Chemicals Industry Outlook, 2024 - Featuring Profiles of Huntsman, Wacker Chemie, Dow Chemical

prnewswire | February 19, 2020

The "Textile Finishing Chemicals Market by Type (Softening Finishes, Repellent Finishes, Wrinkle Free Finishes, Coating Finishes, Mothproofing Finishes), Process (Pad-Dry Cure Process, Exhaust Dyeing Process), Application , Region - Global Forecast to 2024" report has been added to Research And Markets.com's offering. The global textile finishing chemicals market size is expected to grow from USD 6.2 billion in 2019 to USD 8.2 billion by 2024, at a CAGR of 5.5% during the forecast period. It is driven by various factors, such as high demand from the technical textile and home textile applications. The growth of these applications is likely to propel the market. However, stringent environmental regulations regarding the disposal of textile finishing effluents are likely to hinder the growth of the market.

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CHEMICAL MANAGEMENT

United Weld Holdings Completes Alignment of Operations Following Acquisition of BendTec

United Weld Holdings | June 15, 2022

United Weld Holdings whose portfolio of companies focuses primarily on providing industrial pipe fabrication and pipe and fitting distribution to industrial and commercial markets, is pleased to announce the completion of the alignment of its operations following its acquisition of BendTec in Duluth, Minnesota. BendTec has a longstanding reputation for high-quality, technically sound steel pipe bending and fabrication across multiple industries, including the power, structural and architectural, mining, industrial, chemical, and nuclear industries. The company has received worldwide recognition for its expertise, dependability, and innovation. It is the leading provider of critical power piping systems, with specific focus on heavy-wall, large-diameter pipe fabrication and bending for the power generation industry. In addition, BendTec is a proud partner of the Local 11 of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada. "Since we were purchased by United Weld Holdings, we have been forging a path forward with newfound direction. BendTec remains a united company, utilizing a strong union workforce provided by the Local 11 with whom we have a longstanding relationship. Now more than any other time over the past 20 years, we are looking to grow our business and strengthen our relationship, which will benefit the members of the Local 11 and all of our employees." Clint Zimpel, appointed President of BendTec following the transaction UWH's portfolio also includes Epic Piping, Epic Distribution, Emirates Prefabrication, and Epic Piping Supports. The alignment enables the companies to leverage UWH's corporate shared services functions and operate independently, giving each greater ability to expand their unique service offerings and grow their businesses based on their individual capabilities.

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CHEMICAL MANAGEMENT

TOMRA calls for closing the loop on plastics and beyond

TOMRA | June 01, 2022

TOMRA continues to play a key role in closing the loop on PET beverage containers but recognizes that there is more to be done. Now political framework, bold decisions and smart investments in collecting, sorting and recycling should be used to improve circularity across all material streams and to overcome today's supply chain bottlenecks. "We have an obligation to work with all stakeholders to reduce the mountains of waste and transform them into the valuable resources they are", TOMRA's CEO and President Tove Andersen stated at TOMRA's press conference held at IFAT. Although there has been considerable progress in recycling, the pandemic and the ongoing war in Europe have shown us that there is an urgency to decrease dependency on primary materials. "Today, we invest approximately 10% of our revenues in future-oriented activities to increase resource efficiency, advancing the market for circular solutions, which we are well-positioned to do. We have the technology capable of maximizing collection and recovery rates. We can act now, optimize waste management practices and fill existing gaps", concludes Andersen. Having established benchmarks for climate policy worldwide, the European Green Deal, coupled with binding regulations and guidelines for producers and manufacturers, drive the acceleration to a circular economy. TOMRA urges all participants in the value chain to see these specifications as an opportunity and to support their implementation. "We have learned that mandatory legislation is necessary in order to achieve goals and create markets," Dr. Volker Rehrmann, EVP, Head of Recycling/Mining & Circular Economy, explains. "However, before we can recycle larger volumes we need to collect as much as possible. There are well-functioning collection systems in place, but it is still not enough. Every day we lose valuable resources to landfill and incineration where they are buried and burned. This is low-hanging fruit and the material must be collected, recovered and recycled." Maximizing material circularity is not restricted to plastics. There are more material streams to close the loop on, such as metals and wood. "We must pay equal attention to these recyclables to support reaching the EU's climate neutrality goals set for 2050", said Tom Eng, SVP Head of Recycling. For example, the demand for aluminum is expected to grow by 40% by 2050, a challenge for aluminum producers with limited production capacities in Europe. The good news is that recycled aluminum plays a critical role on the way to a decarbonized world and supports producers' quest to increase recycled content and their environmental commitments. A similar scenario can be observed in the wood sector. Particleboard manufacturers are looking for a cost-effective and environmentally friendly way to source materials of which availability is currently limited and that with sky-rocketing prices. Using recycled materials in the production of wood-based or metal-based materials help producers to overcome these challenges while reducing greenhouse gas emissions, and resource depletion. "If we leverage the power of intelligent technologies and closely work with the industry, we can turn waste into value and reduce the dependency on primary materials. Recycling is a key climate mitigator and energy-efficient route to go when supporting a sustainable transition, keeping materials in continuous use. Whatever it takes to close the loop, we will get there", finished Eng. About TOMRA TOMRA Recycling designs and manufactures sensor-based sorting technologies for the global recycling and waste management industry to transform resource recovery and create value in waste. The company was the first to develop advanced waste and metals sorting applications use high capacity near infrared (NIR) technology to extract the most value from resources. To date, more than 8,200 systems have been installed in 100 countries worldwide. TOMRA Recycling is a division of TOMRA Group. TOMRA was founded in 1972 and follows the vision to lead the resource revolution to transform how the planet's resources are obtained, used and reused to enable a world without waste. The company's other business divisions comprise TOMRA Food, TOMRA Mining and TOMRA Collection.

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CHEMICAL TECHNOLOGY

HONEYWELL COLLABORATES WITH THE UNIVERSITY OF TEXAS AT AUSTIN FOR INNOVATIVE CARBON CAPTURE AND STORAGE TECHNOLOGY

Honeywell | December 16, 2021

Honeywell announced an agreement with The University of Texas at Austin that will enable the lower-cost capture of carbon dioxide emissions from power plants and heavy industry1. Honeywell will leverage UT Austin's proprietary advanced solvent technology to create a new offering targeted at power, steel, cement and other industrial plants to lower emissions generated from combustion flue gases in new or existing units. The solution provides these sectors with an additional tool to help meet regulatory requirements and sustainability goals. Honeywell has committed to achieve carbon neutrality in its operations and facilities by 2035. This new carbon capture technology builds on the company's track record of sharply reducing the greenhouse gas intensity of its operations and facilities as well as its decades-long history of innovation to help its customers meet their environmental and social goals. About half of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. The licensing arrangement with UT Austin expands Honeywell's leading carbon capture technology portfolio. Today, 15 million tons per year of CO2 is being captured and used in storage/utilization applications through Honeywell's CO2 Solutions process expertise. Honeywell currently has the capacity to capture 40 million tons per year through its installed projects worldwide2. UT Austin's patented solution utilizes an advanced solvent, which enables carbon dioxide to be captured at a lower cost through greater efficiency using smaller equipment, creating viable project economics today under current CO2 policy frameworks in North America and Europe. 1,3 For a typical power plant, applying advanced solvent carbon-capture technology would enable the capture of about 3.4 million tons of CO2 annually, equivalent to removing nearly 735,000 cars from the road each year.4 This point source CO2 removal technology can be retrofitted within existing plants or included as part of a new installation. In this process, carbon dioxide is absorbed into an amine solvent and then sent to a stripper where CO2 is separated from the solvent. This CO2 is then compressed for geological sequestration or used for other purposes. With thousands of power and industrial plants around the world, the opportunity for significant emissions reduction is enormous. "As the world proactively seeks technology solutions that limit greenhouse gas emissions, we recognize that carbon capture technology is an important lever available today to reduce emissions in carbon-intensive industries that have few alternative options, such as steel plants and fossil fuel power plants. By working with UT Austin, our advanced solvent carbon capture system will enable lower cost of CO2 captured post-combustion.1 Ben Owens, vice president and general manager, Honeywell Sustainable Technology Solutions "UT Austin is a leader in carbon capture research, focusing in this area for more than 20 years through its Texas Carbon Management Program. Gary Rochelle, professor at the McKetta Department of Chemical Engineering and leader of TxCMP at UT Austin, and his team have established an efficient, second-generation amine scrubbing system through years of research and analysis. The improved performance from this solution can unlock project economics for "hard to abate" industries such as steel, cement, and chemical plants, and coal, natural gas and bio-energy power plants. "We are thrilled that our decades of research has led to carbon capture technology that can significantly reduce carbon emissions.5 The licensing agreement with Honeywell enables us to commercially scale this in ways that can make major contributions toward zero emissions efforts to address global warming and to reduce pollutants in surrounding communities," Rochelle said. In 2020, carbon capture, utilization and storage projects worldwide were capturing and storing/using 40 million metric tons per year of carbon dioxide, according to the International Energy Agency. 6 In order to align with the IEA Sustainable Development Scenario, which demonstrates a pathway to limit global temperature rise by less than 1.65º C, CCUS project capacity must increase more than 20 times to enable capture of 840 million metric tons per year of CO2 by 2030.7 Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. The University of Texas at Austin collaborates with a diverse array of partners — including entrepreneurs, investors, technology incubators, and large enterprises — to bring campus innovations to the market to improve lives. UT Austin research generates more than 150 new technologies each year, providing abundant and varied opportunities for industry collaboration. Read the latest research news or learn more about technologies available for partnering.

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CHEMICAL MANAGEMENT

The Worldwide LPG Tanker Industry is Expected to Reach $286 Million by 2030

Research and Markets | March 26, 2022

The "LPG Tanker Market Size, Share & Trends Analysis Report by Vessel Size by Refrigeration & Pressurization by Region and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The global LPG tanker market size is expected to reach USD 286.48 million by 2030. The market is expected to expand at a CAGR of 5.3% from 2022 to 2030. Strong growth in shale gas production is likely to propel the market growth over the coming years. The volatility of crude oil prices coupled with developments in hydraulic fracturing and horizontal drilling methods resulted in major companies shifting their attention towards the production of oil and gas from shale rock. Change in focus towards the production of shale gas is further projected to enhance market growth over the estimated period. The Very Large Gas Carriers (VLGC) segment led the market in 2021. However, the Large Gas Carrier (LGC) is anticipated to take over the forecast period by a small margin. Very large gas carriers are widely used for the transportation of liquified petroleum gas (LPG) for longer distances across various countries. Growing liquefied petroleum gas trade relationships between various regions, such as the Middle East and Asian countries, Western Africa and Europe, and the United States, is the major factor projected to boost the VLGC segment growth. The full-pressurized segment led the market in 2021 and will maintain its lead throughout the forecast period. The market is anticipated to have a steady growth in all segments as the amount of LPG transported increases. The supply chain of the LPG and ancillary industries was affected due to the shutdown of production facilities, especially in Asia Pacific, as it was the epicenter of the COVID-19. The manufacturing and energy & power sectors globally experienced a considerable slowdown due to the COVID-19. In addition, local and international travel restrictions, quarantine requirements, and lockdowns further delayed shipments of LPG that were in process of being delivered. The market growth is determined by improved LPG trading around the globe. Shale gas extraction is likely to rise at a rapid pace, which will drive growth over the forecast years. Factors including capacity expansion of shale gas from untapped stocks enhanced global gas trade, and ongoing usage of liquefied petroleum gas as a cooking fuel is contributing to the development of the market for liquefied petroleum gas tankers.

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