U.S. Linear Alpha Olefins Market to witness phenomenal proceeds over 2017-2024, regional revenue to surpass USD 6 billion by 2024

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In the recent times, Linear Alpha Olefins market has continued to witness voluminous and remarkable investments by industry giants in a renewed bid to fulfill their commitments to expand the existing manufacturing sites to produce increased amounts of linear alpha olefins. A notable instance that would be prudent to cite is of Royal Dutch Shell, the British-Dutch oil and gas behemoth, confirming its plan to expand its Geismar chemical manufacturing plant in Louisiana, U.S. to establish it as the world’s largest single-site production facility of linear alpha olefins. Speaking in the similar context, another industry leader in linear alpha olefins market, Chevron Phillips Chemical Company has recently unveiled its latest world-scale linear low-density polyethylene (LLDPE) unit in Texas, U.S. which is slated to produce approximately 1 million metric tons of LLDPE annually to meet the ever-growing demand for polyethylene from across the globe. The move is overt to leave a perpetual impact on linear alpha olefins industry landscape with LLDPE being one of the most prominent applications of this fraternity.

U.S. Linear Alpha Olefins Market Size, By Application, 2016 & 2024 (USD Million)
 U.S. Linear Alpha Olefins Market Size, By Application, 2016 & 2024 (USD Million)

For the record, linear alpha olefins are utilized as co-monomers to manufacture polypropylene and polyethylene, out of which the burgeoning demand for linear low-density polyethylene is attributed to its wide-ranging applications in household products, food packaging, automotive, agriculture and shrink films. Apparently, the aforementioned instances coupled with the technological advancements in oil and gas extraction and drilling in U.S. are evidence enough to state the astounding growth prospects of linear alpha olefins market in North American region over the estimated time frame. U.S. linear alpha olefins industry alone is anticipated to surpass $6 Billion by 2024, according to a detailed report published by Global Market Insights Inc. Concurrently, the enhanced demand for petrochemical products alongside the improved drilling facilities has consequentially led to the increase in shale gas extraction, which has, in turn, driven linear alpha olefins market growth in the U.S.

The product landscape of linear alpha olefins industry includes 1-Butene, 1-Octene, 1-Decene, 1-Hexene, 1-Dodecene, 1- Hexadecene, 1-Octadecene, 1-Tetradecene among others.  Out of these olefins, 1-Butene market size is anticipated to attain decent gains of over 4.5% over the projected time span, merited by its tremendous applications in flexible packaging and in the manufacturing of commodity polymers. Another noteworthy olefin, 1-Octene, has extensive usage in elastomers production. These elastomers, in turn, are used in components of flexible packaging and automotive interiors. The rapid growth of packaging and automobile industry around the globe, has fostered the expansion of linear alpha olefins market.

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Meanwhile, the consistent fluctuation in the raw material prices, owing to the turbulent crude oil and gas arena, might reflect negatively on the growth prospects of linear alpha olefins market.

Speaking in the context of geographical trends, the European linear alpha olefin market, led by Germany, Italy, and France, would garner considerable benefits owing to the presence of leading automobile manufacturers in the continent and the strict emission control regulations prescribed by regulatory agencies. In addition, the increased production output of detergent alcohol in Germany shall further steer the regional demand for linear alpha olefins. Europe market size is forecasted to exceed the growth rate of 3.5% over the estimated time period.

The Asia Pacific region has increasingly been adopting synthetic lubricants in automobiles to boost fuel efficiency and decrease the environmental harm, thereby acting as a determining factor to stimulate the global linear alpha olefins market augmentation. Among the Asia Pacific region, China is estimated to register a revenue growth of over $1.5 Billion by 2024 owing to its humongous automobile industry and rising environmental concerns.

Speaking of competitive market share, the linear alpha olefins market appears moderately fragmented and intensely competitive with some reputed industry players such as Chevron Phillips Chemical LLP, Shell, Exxon Mobil, Sasol, INEOS, SABIC, Evonik Industries and Jam Petrochemical making determined efforts to expand the existing manufacturing sites, construct new facilities, enhance the technological capabilities and collaborate to lower the production cost. All these factors are bound to propel the progression of linear alpha olefins market size in the upcoming years. Linear Alpha Olefins market size, according to the latest research report compiled by Global Market Insights Inc., might surpass $19 Billion by 2024.

Author Name : Saif Ali Bepari

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Aseptic Packaging Market to witness remarkable proceeds from food applications over 2017-2024, APAC to drive the regional landscape

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Tetra Pak, one of the most acclaimed India based mammoths, has recently taken a leap to stand its stance in aseptic packaging industry. The company recently launched Tetra Fino® Aseptic 100 Ultra MiM, an absolutely state-of-the-art packaging concept that would allow manufacturers to produce and distribute dairy and juice drinks in small pouches, and subsequently commercialize them as frozen products. Allegedly, this breakthrough technology comes on the heels of Tetra Pak’s plan to tap the expanding the ice cream market which presently is worth more than USD 70 billion, without any additional investment in chilled distribution system and production equipment. Experts have been already raving about this new concept and are expecting that this groundbreaking model would prove to be disruptive for the overall aseptic packaging industry. The overall business space, as estimated by research analysts, held a valuation of USD 36 billion in the year 2016.

Europe Aseptic Packaging Market Size, by Product, 2013 – 2024 (USD Million)
Europe Aseptic Packaging Market Size, by Product, 2013 – 2024 (USD Million)

Aseptic packaging market, as claimed by experts, ever since its inception, has highly relied on innovating newer and advanced products. Specifically, one of the recent developments in the business sphere is HTST (high-temperature-short time), which allow the food products to get exposed to heat for a considerably lower time. As per the sources, sterilization process of HTST for aseptic packaging is not only thermally efficient but also maintains the highest quality of the products, including color, natural flavor, nutritive quotient and the like. Speaking of its immense potential, it is prudent to mention that aseptic processing technology sterilizes the food product by destroying harmful pathogenic microorganisms and bacteria through a controlled thermal process. It amalgamates the sterile product with the sterile packaging material in a sterile environment, making the product shelf-stable that requires no refrigeration. The predominance of food sectors over other end-use domains of aseptic packaging industry is quite vividly coherent from the estimates that claim food applications to record a y-o-y growth of 8% over 2017-2024.

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Global aseptic packaging market is envisaged to be phenomenally influenced by the increasing demand for packaged food with minimum contamination risk and longer shelf-life. In developing economies, the demand is claimed to be significantly high, subject to the sedentary lifestyles of urban dwellers. For instance, Asia Pacific is one of the prominent regions inclining heavily toward ready-to-eat products, snacks, cake mixes, frozen meals, and dairy items, a factor that has parallelly opened up lucrative business opportunities for aseptic packaging industry market players. As per estimates, APAC belt procured a major chunk of the overall aseptic packaging market share in 2016, and is slated to be one of the prominent growth avenues for the overall business space in the coming years. Furthermore, the fact that this particular packaging solution is deemed to be eco-friendlier than its other counterparts, might fortify aseptic packaging industry prominence in major end-use domains.

The profitability quotient of the entire business space is claimed to be directly proportional to the expanding end-use domains. Pertaining to the wide application scope of packaging across food, beverage, dairy, and pharmaceutical sectors, the global demand for safe high-quality packaging solutions have witnessed a steady rise lately-which has had a substantial impact on the growth curve of aseptic packaging market. In addition, these aforementioned sectors, over the recent years, have been increasingly demanding environmentally viable solutions, in order to comply with the mandatory regulations on environmental safety. This has pushed aseptic packaging market players to come up with advanced innovative solutions amidst the competitive landscape. All in all, despite the high cost associated with setting up the unit and R&D investment, the aseptic packaging business space is set to experience a global popularity in the ensuing years, subject to its immense potential of bringing a dynamic transformation in conventional packing model with regards to product sterility, longer shelf life, and reliability. In terms of revenue, Global Market Insights, Inc. forecasts the overall aseptic packaging industry size to exceed a valuation of USD 70 billion by 2024.

Author Name : Satarupa De

Microencapsulation Market to accrue commendable proceeds from the pharma domain over 2017-2024, sports nutrition to emerge as a lucrative end-use sector

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The recent Frutarom-AB-Biotics agreement has sent out waves of anticipation in microencapsulation market, given that the deal has been signed by Frutarom to acquire AB Biotics’ iron deficiency ingredient unit, AB-Fortis. Apparently, the Israel-based flavor company plans to encompass AB-Fortis into its established framework of specialty fine ingredients, and tap into its microencapsulation technology to increase the absorbability of iron in tissues, and enable a reduced iron dosage in ingredient extracts, without any side effects or any compromise on the taste factor. With the acquisition of AB-Fortis, Frutarom has successfully crossed a double benchmark – that of having firmly established its space in microencapsulation industry, while simultaneously having made its tenth acquisition of 2017 so far, the last one being, 210-million-dollar takeover of the Israel ingredients company, Enzymotec. Furthermore, it is prudent to mention that AB-Fortis’ inclusion within Frutarom’s umbrella may prove to be highly beneficial for the ex-iron-deficiency-ingredient unit of the Spanish biotech company AB-Biotics. Considering the prominence of Frutarom in the growing specialty health ingredients market, it is expected that the company will exploit the full potential of AB-Fortis to mark a precedence in the microencapsulation market as well.

Europe Microencapsulation Market Size, by Application, 2013 – 2024 (USD Million)
Europe Microencapsulation Market Size, by Application, 2013 – 2024 (USD Million)

An insight of microencapsulation market outlook from the pharma sector

Microencapsulation technology finds extensive applications across a plethora of end-use domains, though the pharmaceutical sphere, by far, remains one of the most lucrative sectors. In 2016 alone, the pharma domain accounted for a revenue of USD 4 billion from the overall microencapsulation industry share, driven by the deployment of this technology for improving the process and effectiveness of drug delivery and camouflage the bitter taste of medicines. Also, this sector has achieved commendable prominence in the developed regions of the globe, thereby providing an impetus to the overall microencapsulation market size. As per statistics, the pharma sector in North America is in exceedingly good shape, driven by the contribution of the United States, which is touted to be the most important pharmaceutical market is the world. In conjunction with Mexico and Canada in fact, it represents the biggest continental pharmaceutical business globally, which is evidence enough to claim that North America is one of most remunerative grounds for microencapsulation industry. Estimates state that the U.S. alone accounts for more than 45% of the overall pharma business – in 2016, its contribution toward the global pharma sphere has been touted to be around USD 446 billion. Given the robust expansion of this sector in the U.S., it has been forecast that U.S. microencapsulation market share is likely to accumulate substantial revenue in the ensuing years.

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A microencapsulation industry research report compiled by Global Market Insights, Inc., claims that Europe and North America conjointly held more than 65% of the global share in 2016, owing to the robust expansion of the pharma and healthcare spheres across these highly developed geographies. Primarily, microencapsulation market size across these regions is heavily driven by the growing demand for microencapsulated drugs, not to mention, the extensive R&D activities in the healthcare field. In effect, the growth of the overall pharma sector is directly proportional to the revenue graph of microencapsulation industry share.

An insight of microencapsulation market trends from the nutrition domain

Given that microencapsulation helps encapsulate essential nutrients in additives, it has found profound applications across the nutrition sector. In fact, recently, in a research study, an extract of sea buckthorn, carefully microencapsulated in whey protein isolate, had demonstrated an antioxidant activity, indicating that the extract may play a vital role in the sports nutrition sector. As per reports, the study team based at the Dunarea de Jos University, Romania, claim that they encapsulated sea buckthorn extract through freeze drying and coacervation, deploying gum acacia and whey proteins and gum acacia, and then obtained a powder encompassed with health-promoting properties. If and when commercialized, this ingredient combination is likely to bring about a transformation in microencapsulation market landscape.

The process of encapsulation is also used for sensitive compounds such as polyunsaturated fatty acids and liposoluble vitamins. Microencapsulation industry also boasts of applications such as encapsulating B vitamins for flavor masking chewable tablets, powdered sports beverages, and nutrients for sports nutrition bars. Essentially, it has been inferred that sports nutrition is a pivotal emerging end-use domain for microencapsulation market size.

Driven by the extensive developments prevalent across the end-use sectors such as pharma, food additives, agrochemicals, and the like, microencapsulation industry share is likely to amass considerable popularity in the years ahead. A report by Global Market Insights, Inc., claims that microencapsulation market size is likely to grow at a CAGR of 8% over 2017-2024, with a target revenue estimation of more than USD 14 billion by 2024. It is prudent to mention that companies partaking in this business share have been spending excessively on R&D activities, to bring about certain essential changes in the product deployment and commercialization, that is certain to further impel microencapsulation industry size in the forthcoming years.

Author Name : Saipriya Iyer

U.S. patient handling equipment market to observe remarkable push over 2017-2024, mobility assistance to majorly drive the application landscape

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Over the recent years, patient handling equipment market has observed a remarkable push, inherently influenced by the unprecedented advancements in medical devices business space. A transformational change has been observed in the healthcare fraternity with regards to value chain, from volume to outcome-based, patient centric approach.  The advent of new technologies, presence of strong regulatory framework, and subsequent emergence of intense competitive arena has brought forth a slew of complexities for patient handling equipment industry players.  Amidst the fierce share battle, product innovation is claimed to be one of the major growth strategies defining the sustainability quotient of the industry.

U.S. Patient Handling Equipment Market size, By Product, 2013-2024 (USD Million)
 U.S. Patient Handling Equipment Market size, By Product, 2013-2024 (USD Million)

Citing a recent instance, HoverTech International, a leading giant in patient handling equipment market has recently extended its product line of highly breathable HoverMatt Single-Patient Use, specifically designed for pressure injury prevention. Reportedly, this advanced fabric technology infused air transfer mattresses protect patient skin by minimizing moisture buildup and heat transfer. Allegedly, with HoverMatt SPU, the caregivers can very smoothly turn, transfer, and position patients without much straining or lifting, given the fact there is a cushion of air beneath the inflated device which claims to reduce the pressure required to move the patient by almost 80% -90%. Experts have been already raving about the new product claiming that it to disrupt the conventional patient handling equipment industry.

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Speaking along the similar lines, mobility assistance, unquestionably, is one of the lucrative application arenas of patient handling equipment market. The growing percentage of the geriatric and disabled population, who are constantly in need of walking assistance such as wheelchairs, crutches, is bound to considerably boost the market demand in the coming years. As per a report put forth by Center for Disease Control and Prevention, in U.S., almost one out of five adults are challenged with a physical disability. The study further depicted that the most common type of functional disability is mobility limitation- which is reported to be found in almost one in eight adults. The shocking prevalence of mobility disorder has prompted manufacturers to come up with advanced systems, which by extension is creating lucrative growth avenues for patient handling equipment industry. As per estimates, mobility assistance sector procured a major chunk of the overall patient handling equipment market share in 2016. In tandem with the technological advancements, favorable reimbursement policies for these equipment would complement the business growth in coming years.

One of the major reasons for U.S. to become the favorite spot for patient handling equipment market investors can be quite comprehended from the aforementioned statistic with regards to mobility disability. Add to this, the nation has been rigorously participating in patient handling program that constitutes minimal lift policy. The University of Iowa Hospitals and Clinics, for instance, has implemented a safe patient handling program, resulting in reducing the workers’ compensation cost as well as recovering the initial investment on equipment.  Considering the efforts that are being continuously undertaken by the U.S. government to reduce the equipment cost, U.S. patient handling equipment market is expected to witness a healthy growth over 2017-2024.

The overall patient handling equipment industry, as claimed by Global Market Insights, Inc., will exceed a valuation of USD 23 billion by 2024. The figure is reportedly more than double the market valuation of USD 9.8 billion attained in 2016. However, one of the major constraints that can hamper the growth of this business space over the ensuing years is the lack of proper training provision for the nursing staffs. Companies, nonetheless, have been increasingly undertaking significant initiatives such as patient handling program to combat the challenge. Driven by the increasing takeover of technology in equipment design, in tandem with its diversified application matrix, patient handling equipment industry is sure to gain remarkable proceeds in the coming years.

Author Name : Satarupa De

North America Printing Toners Market to witness phenomenal gains 2017-2024, Global industry valuation to surpass USD 5 billion by 2024

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Dubbed as one of the most innovative breakthroughs printing toners market has witnessed in 2017, the Japanese electronics giant Toshiba, launched an enterprise-class, multi-function, monochromatic laser printer which comes with an erasable blue toner that can erase a printed paper up to five times. Integrating the erasable printing technology into a single machine, the latest printer helps the paper usage shrink by 80%, making it an environment-friendly and a highly-portable device.

Apparently, the printing toners industry growth can be attributed to the flourishing product demand for packaging applications across diverse end-use industries such as textile, food & beverage, electronic gadgets, pharmaceutical, etc.

U.S. printing toners market size, by production technology, 2013 – 2024 (USD Million)
U.S. printing toners market size, by production technology, 2013 - 2024 (USD Million)

In addition, the continued priority being extended towards laser printing over inkjet printing in enterprise printing applications, courtesy its decreased waste generation, improved print quality and reduced cost per copy, is set to contribute in printing toners market size augmentation in the upcoming years. According to the estimates reported by Global Market Insights, Inc., the printing toners market size stood at $3.5 Billion in 2016.

The conventional printing toners market has continued to acquire the largest share in the overall global printing toners industry. The wide-ranging applications and lower cost of operability of conventional printing toners have led to a substantial demand for such toners. Conventional printing toners led the printing toners market with an estimated revenue of over $2 Billion in 2016. Speaking on similar lines, commercialization of chemically prepared printing toners has been on the rise. The excellent characteristics of conventionally prepared printing toners such as its chemical controllability and uniform particle size which assist in accelerating the speed of printing have been instrumental in their accentuating demand from variegated business domains.

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The increasing requirement from various segments for all-in-one printers with high-speed functionality, has compelled the prominent players in the printing toners market to launch printers equipped with duplexing features and top-notch multi-functional usability. To cite an instance, the leading Japanese electronics firm, Panasonic unveiled a multi-functional printer (MFP) of its MB500 Series in 2016, with a toner cartridge that lasts up to 25,000 pages coupled with highly modest cost per copy (CPC) per print. Evidently, with the onslaught of such encouraging ingenuity demonstrated by the manufacturers, the printing toners market is set to gain tremendously in the near future.

Concurrently, it would also be prudent to mention the anticipated challenges to be faced by the printing toners market in the coming timeframe. It has been argued that the long-term exposure to printing toners might negatively affect human health as it might lead to respiratory problems. Add to it, the rapid emergence of electronic media and increased resource allocation towards finding innovative solutions to save paper might prove to be the major hindrances in the progression of printing toners market size. However, the leading players in the printing toners industry appear to have evolved themselves to find solutions to the growing environmental concerns in the context of global printing landscape. In its persistent efforts to help conserve forests and promote environmental sustainability, Canon U.S.A., Inc., the leader in producing photocopiers and printers, has planted and distributed more than 460,000 trees since 2009 under the program titled as “Replanting Our Forests”.  Such refreshing initiatives by significant market players will continue to make the printing toners market progress in a drastic way.

Speaking of the regional growth perspective, North America led the printing toners market size in 2016 with a total revenue of over $1 Billion. The huge demand for printing applications such as user manuals, banners, catalogs and user manuals will contribute to the growth of the industry in the region. Simultaneously, the Asia Pacific market, owing to the rapid pace of industrialization in countries such as India, China, and Japan, has been forecasted to register a strong CAGR of 7% over 2017-2024.

The printing toners market stands to garner remarkable proceeds with the major players in the market such as Toshiba, Lexmark, Xerox Corporation, Panasonic, Canon Inc., HP Inc., expected to deploy their resources to increase R&D initiatives and investment in the upcoming years.  A report collated by Global Market Insights, Inc., estimates the printing toners market to surpass $5.5 Billion by 2024.

Author Name : Saif Ali Bepari

Nanosilver Market to garner sizeable returns over 2017-2024, cutting-edge product innovations and shifting consumer preferences to drive the growth

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In the recent times, nanosilver market has been highly characterized by the increased convergence of path-breaking technologies which has subsequently culminated in robust demand from electrical and electronics, healthcare, food and beverages, textile, and water treatment industries. Prominent players across diverse business domains in the aforementioned sectors have been earnestly exhibiting their willingness to utilize nanosilver in their products, courtesy the countless number of applications and benefits of nanosilver.

U.S. nanosilver market size, by end-user, 2013 – 2024 (USD Million)
 U.S. nanosilver market size, by end-user, 2013 - 2024 (USD Million)

The most stimulating products to bolster the nanosilver industry landscape, have been emerging in the printing inks industry. To cite an instance, Sun Chemical, the world’s largest producer of printing inks and pigments, is set to launch its SunTronic range of products under its subsidiary, Sun Chemical Advanced Materials, in November this year. The highlight among these products is Sun Chemical’s nanosilver ink. Reportedly, with this nanosilver ink, it has now become viable to operate with a single nanosilver from the stage of a prototype to the finished product of leading inkjet systems in printed electronics. Such dynamic product innovations and consistent technical advancements coupled with the altering consumer preferences across the globe are bound to contribute to the rapid expansion of the nanosilver market. According to a report collated by Global Market Insights Inc., the nanosilver industry size stood at $1 Billion in 2016, out of which the electrical and electronics market portion seized around $350 Million.

Nanosilver particles possess antimicrobial, antibacterial, antifungal, antiviral, and non-allergic properties. These unique characteristics of nanosilver particles have manifested into propelling the progression of nanosilver market. The product demand for antimicrobial coatings in consumer hygiene and medical applications has seen an upsurge in the recent past which will, in turn, boost the nanosilver market size in the near future. The major consumer hygiene applications include food packaging, personal care products, and clothing.

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The medical applications of nanosilver include dressings, bandages, creams, and tubings. The unprecedented applications of nanosilver are arriving on the horizon. A notable instance in case that can be cited is of, One Diamond Electronics, a U.S. based electronics enterprise, has unveiled a whole new range of antimicrobial coated, easy to wash keyboards, designed for utilizing with medical systems and industrial applications. Such ground-breaking applications of nanosilver are highly encouraging, as the medical electronics market and environmentally-regulated industrial applications continue to grow.

Meanwhile, it is also prudent to take note of the challenges to be faced by nanosilver industry. The recent standards and laws formulated by the U.S. Environment Protection Agency and other regulatory authorities across the globe, against the harmful implications accrued out of product applications of nanosilver on human health and environment, may hinder the growth of nanosilver market size.

Owing to the vast expanse of medical tourism landscape in Asia Pacific, especially in the countries such as India and other South-East Asian nations, the nanosilver products find wide-ranging applications in diagnosis, treatment, drug delivery, medical device coating, and for personal healthcare. All these aforementioned factors can be attributed to the estimated growth of APAC nanosilver market at 16% over 2017-2024.

The North American nanosilver industry was estimated to be worth over $400 Million in 2016. This can be accredited to the swift technological headways complimented with robust demand for consumer devices including home appliances, entertainment products, telecom equipment, and computer peripherals.

As the key players in nanosilver market persist to make concerted efforts towards investing, upgrading, and refining the product applications portfolio, the nanosilver market is hopeful to witness commendable growth in the coming years. The predominant nanosilver product manufacturers include NovaCentrix, Creative Technology Solutions Co. Ltd., Nano Silver Manufacturing Sdn Bhd, Advanced Nano Products Co. Ltd., Applied Nanotech Holdings, Inc., SILVIX Co. Ltd., and Bayer Material Science.

The latest trend emerging in the nanosilver market is of upcoming players keenly engaging in forming significant alliances with the OEM partners, printhead manufacturers and system integrators in a vast range of verticals, including textile, décor, graphics, industrial packaging. The market further anticipates mergers and acquisitions, strategic collaborations that would improve its profitability and expand the customer base in a drastic way. According to a recent report compiled by Global Market Insights Inc., the nanosilver market is forecast to register a decent CAGR of 15.6% over 2017-2024.

Author Name : Saif Ali Bepari

Europe magnesium wheel market to witness phenomenal gains over 2017-2024, sizable automotive manufacturer base to favor the regional demand

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Magnesium wheel market players, in the recent past, have been chiefly concentrating on forging strong and long-lasting alliances with the top-notch premium car manufacturers. The dynamic collaborations of such kind have emerged as the principal driving force to spur the robust growth of magnesium wheel market. To note a few remarkable collaborations, the Italy-based prominent Magnesium wheel market player, the O.Z. Group has renovated its partnership with the sports car manufacturer, Ferrari, till 2019 as the company has rebalanced its product positioning to cater the sports car industry. The O.Z. Group has further teamed up with other leading Original Equipment Manufacturers (OEMs) including Mercedes Benz and Volkswagen. Furthermore, the Germany-based leading high-performance magnesium wheel manufacturer, BBS, has focused on supplying its products to the sports cars participating in the Formula One racing events. The aforementioned alliances between magnesium wheel makers and premium car manufacturers will assist in broadening and diversifying the customer base and to bring in latest technological innovations in producing high-end wheels required by the thriving magnesium wheel market. Reportedly, magnesium wheel industry size was valued at over $22 billion in 2016 with premium/sports car segment accounting for over 95% of the total share.

U.S. Magnesium Wheel Market, By Manufacturing, 2013 – 2024 (Thousand Units)
U.S. Magnesium Wheel Market, By Manufacturing, 2013 – 2024 (Thousand Units)

According to the U.S. based trade group, International Magnesium Association, Magnesium weighs 75% lighter than steel and 33% lighter than aluminum. The paradigm shifts in automotive trends including the increased demand for reduced weight cars, enhanced fuel economy, vehicle customization, green mobility, optimum precision, improved functionality and stronger grip on the road have proven to be of immense help to massively drive the magnesium wheel market size in terms of revenue growth and expanding its customer base.

Meanwhile, the recent Volkswagen diesel emissions scandal in the U.S alerted the regulatory agencies across the developed and developing economies to prescribe harsh regulatory emissions standards in the countries. The stringent regulatory emissions standards are being strictly implemented across nations which are forcing the premium car manufacturers to produce lightweight vehicles which are, in turn, accentuating the demand for magnesium wheel industry.

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Speaking of the magnesium wheel market by its end use, the OEM market is anticipated to demonstrate itself as the chief industry driver. The increasing product innovations complimented with enormous R&D investments by major magnesium wheel makers will propel the industry-specific demand. The competitive wheel design contests organized by the magnesium wheel makers, like the “BBS Wheel Design 2017” arranged by the leading wheel maker, BBS, are exploring the creativity of university students to tap breath-taking designs and pioneering wheel concepts. Such refreshing initiatives are bound to make the magnesium wheel industry more combative in the ensuing years.

The distribution in the magnesium wheel market share has seen a sea change as the motorbikes segment is emerging as a bright spot. The rising population and construction have led to road congestion in all the major cities of the world. Add to it, the altering income trends and increasing preference for bikes has enhanced the demand for magnesium wheel. Coupled with the rising demand for enhanced acceleration and quick braking in the premium and luxury cars, North American and European markets are witnessing rather a humongous product demand.

Speaking along same lines, Europe has been the leader in the magnesium wheel market share owing to the presence of reputable automotive brands including BMW, Audi, Porsche, Lamborghini, and Ferrari. In 2016, Europe constituted over 40% of the magnesium wheel market share.

Asia Pacific region is also expected to grow strongly due to increasing disposable income and favorable socio-economic condition for setting up manufacturing facilities. Especially, the initiatives taken up by Japanese automotive associations will assist the market to register decent growth in the region.

Apparently, magnesium wheel market is regarded as a moderately consolidated business space as the presence of the multinational players is comparatively less. Some of the renowned industry names include MKW Alloy, O.Z. Group, BBS, SMW Engineering, Enkei Corporation and PVM Brakes Manheim. According to a research report compiled by Global Market Insights, Inc., magnesium wheel market is estimated to exceed $27 billion by 2024.

Author Name : Saif Ali Bepari