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16 / September 2020 powderbulk.com more info and to purchase a copy of the report for $4,150, visit www. researchandmarkets.com. Variable-frequency drive market supported by demand in industrial applications The variable-frequency drive (VFD) market is predicted to grow from an estimated $20.73 billion in 2018 to $27.57 billion by 2023, regis- tering a 5.87 percent compound annual growth rate (CAGR) during that period. This is according to the report Variable Frequency Drive (VFD) Market by Type (AC, DC, and Servo), End- Users (Industrial, Infrastructure, Oil & Gas, and Power Generation), Application (Pumps, Fans, Compressors, and Conveyors), Power Range, Voltage, and Region — Global Forecast to 2023 by Mar- ketsandMarkets. The VFD drive market is expected to be impacted by an increase in industrializa- tion and urbanization and a rising need of energy efficiency across various industries. In terms of voltage, the low- voltage segment held the largest market share in 2017 and is expected to continue to hold the largest market share during the report's forecast period. These low-voltage VFDs are used in many industrial applications, including building automation, pulp and paper, power, water and wastewa- ter, oil and gas, and particularly in process industries. For more info and to purchase a copy of the report for $4,950, visit www.marketsand markets.com. The US-Chinese chemicals trade was already taken into account when the outlook was created, but further deterioration in relations and increased trade policy uncer- tainty regarding trade with China and other partners could impact the recovery of the US chemicals trade. For more info and to view the outlook, visit https://tinyurl.com/ ACC2020Mid-Year. Global egg protein market to grow at 6.8 percent CAGR through 2027 The global egg protein market was valued at $28.41 billion in 2019 and is expected to reach $48.09 billion by 2027, growing at a compound annual growth rate (CAGR) of 6.8 percent during the forecast period. The report, Egg Protein — Global Market Outlook (2019-2027), by Research and Markets, says that the market for egg protein is supported by consumer awareness about a healthy diet along with greater demand for proteins as nutritional and functional ingredients. Some market challenges include greater demand for plant-based proteins. Based on type, the egg white powder segment will have strong profitable growth during the forecast period. The report cites consumer preferences because egg white powder can contribute to weight loss and increased muscle gain. Manufacturers in this seg- ment are working on a product that's suitable for lactose-intolerant consumers as well. In terms of geography, China and India are expected to drive the most demand for this market as consumers there are influenced by the western diet and also have more disposable income to spend. In India, an increase in poultry pro- duction should also contribute to egg availability in the market. For and healthful working conditions by setting and enforcing standards and by providing training, out- reach, education, and assistance. MARKETS UPDATE US chemistry industry to fall in 2020, rebound in 2021 and beyond The American Chemistry Council (ACC) predicts that key end-use markets and export customers will struggle in 2020 due to the COVID- 19 pandemic, causing US chemistry volumes to contract as well. How- ever, the organization also predicts that these negative trends will be partially offset by increased demand for chemistry used to respond to COVID-19, including synthetic materials for nonwovens in personal protective equipment, disinfectants, medical plastics, and others. This is according to the ACC Mid-Year 2020 Chemical Industry Situation and Outlook. The outlook predicts that chemical volumes will fall around 9.3 percent this year before rising by 12.3 percent in 2021. The outlook also forecasts that US chemical exports will fall 14.5 percent in 2020 and recover 10.9 percent in 2021. Full export recov- ery isn't predicted to happen before 2022. On the import side, US levels will fall 19.1 percent in 2020, with imports recovering to 11.9 percent in 2021. Full import recovery isn't expected until 2022 or 2023. Chemical industry employ- ment is expected to fall by 20,000 to 524,000 in 2020. This decrease follows seven consecutive years of growth. After 2020, the outlook predicts that as demand for chem- istry strengthens, employment will recover, but not to pre-COVID-19 levels because of productivity gains.