Dow Chemical Company: Dow announced its plans to build a new high-performance material plant in India. The plant will produce advanced materials for industries such as automotive, consumer goods, and infrastructure. This move is part of Dow's strategy to expand its presence in high-growth markets and support the transition to a more sustainable economy.
Evonik Industries AG: Evonik announced that it had completed the acquisition of Porphyrio NV, a Belgian technology start-up that specializes in data analytics and digitalization solutions for the poultry industry. The acquisition is expected to strengthen Evonik's position in the animal nutrition market and support its sustainability goals by helping to improve animal welfare and reduce resource consumption in the poultry industry.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 4872
Published Date: Apr 30, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for acrolein in the production of various chemicals and a rise in research spending are the major factors driving the market growth.
The market size of acrolein is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.
The availability of alternative compounds is estimated to be the growth hindering factor for the market expansion.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Dow Chemical Company, Evonik Industries AG, Merck KGaA, Sumitomo Chemical Co., Ltd., Wanhua Chemical Group Co., Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The pesticide segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.