Fact.MR’s global compound houttuynia market report predicts a highly optimistic outlook for the 2021-2031 forecast period, estimating a CAGR exceeding 10% to reach a multi-million dollar valuation. Extensive uptake of alternative and herbal medicine is acting as the primary growth catalyst for the market.
Historically, the market expanded at a CAGR of approximately 10% from 2016 to 2020. Herbal medicine is being extensively adopted to address conditions such as respiratory disorders and other infectious ailments. Additionally, they are also proving to be effective against various forms of cancers.
According to GLOBOCAN 2020, worldwide, an estimated 19.3 million new cancer cases, 18.1 million excluding non-melanoma skin cancer, and almost 10.0 million cancer deaths excluding non-melanoma skin cancer occurred in 2020.Lung cancer remained the leading cause of cancer death, with an estimated 1.8 million deaths (18%), followed by colorectal (9.4%), liver (8.3%), stomach (7.7%), and female breast (6.9%) cancer.
Uptake of compound houttuynia products is expected to incline significantly, with manufacturers deepening penetration across key markets such as China, India, and Japan.
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According to Fact.MR’s analysis, the global conductive plastic compound market is expected to exceed a valuation of US$ 20.5 billion by 2031-end.
“Increasing application of conductive plastic compounds in automotive and electrical & electronics industry have prompted the manufacturers to come up with sustainable solution and strategies to improve their revenue across developed nations,” says a Fact.MR analyst.
Key Takeaways
- The conductive plastic compounds market is expected to grow two-fold by 2031-end
- Increased application in building & construction will spur sales
- In terms of end-use, electric & electrical segment will witness substantial growth for the sale of conductive plastic compounds
- Carbon nanotubes based fillers are expected to witness high demand backed by extensive usage in electric & electrical industry
- China is expected to hold the largest market share owing to the surging demand of conductive plastic compounds in electric as well as automotive sector
- UK and Germany will witness sluggish growth due to the stringent policies for the use of non-biodegradable plastics
- Steady rise in demand due to increased application in automotive industry will spur the sales of conductive plastic compounds across the U.S.
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Competitive Landscape
Product innovation, expansion of product portfolios, strategic partnerships & collaborations with top companies are some of the strategies prominent players rely on to expand their regional as well as global footprints in the industry.
For instance, Novation Solutions LLC, a materials science company that specializes in high-silicone dispersions, in January 2021, announced the launch of PURmix high-consistency rubber (HCR), healthcare plastic compound that enhances electrical properties of silicone rubber, using patent-pending technologies that incorporate a revolutionary single-wall carbon nanotube developed by Zeon Corporation.
In June 2020, Clariant Plastics & Coatings Healthcare Polymer Solutions announced the launch of static-reducing functional plastic compounds, which are able to increase dose reliability when used in drug delivery devices. The plastic compounds are part of the wider medical grade and includes polymers from PE to PEEK.
On March 16th 2021, Green Mantra Technologies, a global innovation leader that utilizes its advanced recycling technology to create unique specialty polymers and plastic compounds from discarded plastics, announced the partnership with HARKE Group, a leading distributor of specialty chemicals in Europe. Through this partnership, the companies aim to expand their customer base on the back of its sustainable solutions.
The compound houttuynia landscape appears to be highly consolidated, characterized by the presence of a majority of Chinese manufacturers. Offering new products remains the primary strategy of key market players.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the compound houttuynia market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of type (tablets, mixture, capsules, and others) and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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Research Insight: https://www.factmr.com/report/compound-houttuynia-market
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