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Wide presence of retail brands across the U.S.: The presence of big retail brands in the U.S. due to high disposable income among the people and a robust supply chain will fuel advancements in the retail industry. Through 2024, the U.S. fragrance ingredients industry share is projected to register notable gains of more than 5.5%.
Increasing demand for enhanced engine and turbocharger efficiencies from ship operators to meet the EEDI targets and IMO regulations is positively influencing the product adoption
According to the report published by Global Market Insights Inc., the global styrenic block copolymer market touched 1.96 million tons in 2015 and is anticipated to be valued at USD 10.01 billion by 2023. However, political instability in Middle East is likely to distress the pricing of natural gas & crude oil, which acts as an essential component in the making of SBC. This could fluctuate the market's price trend in the future, thereby hindering industry growth.