NEW YORK, Feb. 2, 2017 /PRNewswire/ --
APEJC region to be a major contributor in the global fine hydrate market
The global fine hydrate market is anticipated to show spectacular growth within the period of forecast (2016 – 2026). The market will reap benefits from the emerging markets of Asia Pacific excluding Japan and China. The global fine hydrate market is expected to expand at a value CAGR of 7.2% within the period of assessment. The global fine hydrate market is expected to account for more than US$ 532 Mn by the end of 2026. The market is anticipated to record a volume CAGR of 6.0% over the forecast period and is anticipated to reach a volume of more than 714.2 KT by the end of 2026. The North America and Western Europe region dominated the global fine hydrate market in 2015 in terms of volume. The major market players are eyeing the APEJC region. China, India and South Korea are likely to remain highly opportunistic markets over the forecast period in terms of overall hydrate demand.
Global fine hydrate market: China's role
Though North America and Europe dominated the global fine hydrate market in 2015, China is likely to emerge as a key production and consumption base in the global fine hydrate market in the near future. In order to capitalise on the growing opportunities in the country, domestic players have been increasing their supply for various end user applications. The China market is expected to gain more than 800 BPS over the period of assessment. The Japan market in comparison to China is likely to lose more BPS within the forecast period. The China fine hydrate market is projected to record high growth over the period of assessment. The construction industry boom in China and rapid growth of the electronics and electrical industry has made it a massive procurer of cable compounds such as sheath and insulation of cables. Sales of fine hydrate in China is expected to represent a total incremental opportunity of more than US$ 105.1 Mn by the end of the foreseen period. Sales revenue in China is projected to reach a market value of more than US$ 162.2 Mn by 2026 end, increasing at a CAGR of 11.0% over the forecast period. The Chinese fine hydrate market is inclined towards high-growth high value and is anticipated to continue the same trend by the end of the forecast period.
APEJC region – the emerging future of the global fine hydrate market
APEJC is projected to increase at a CAGR of 7.0% over the forecast period. The consumption of fine hydrate in Asia Pacific Excl. Japan and China (APEJC) for cable compounds was pegged at more than 19.2 kilo tonnes in 2016 and it is expected to cross 38 kilo tonnes by the end of 2026. High growth potential is expected in various Asian countries with special attention in India and South Korea. In terms of value presently South Korea rules the APEJC fine hydrate market. The expanding market in the region is fuelled by a growing wires and cables industry, which supports the use of fine hydrate as a flame retardant in the manufacturing of cable compounds. South Korea and Australia & New Zealand together are expected to create an incremental opportunity of US$ 9.1 Mn, accounting for over one-third share of the total incremental opportunity. India is expected to emerge as the fastest growing market for fine hydrate in the APEJ region, expanding at a CAGR of 9.5% in terms of revenue. The sales revenue of India is expected to cross US$ 16.2 Mn by the end of the forecast period. Sales of fine hydrate in the rest of APEJC is expected to represent a total incremental opportunity of more than US$ 3.1 Mn between 2016 and 2026.
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