Soaring popularity in commercial spaces set to accentuate robust growth in range hood market

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Range hood market size is poised to increase in the wake of burgeoning millennial- and gen-Z population. The tendency to add charm and elegance, and urgency to ward off irritants, odors, and grease which are expelled into the air have signified the relevance of range hoods. One of the common trends in kitchen designing has been the inclination to remove walls in the kitchen to make a spacious environment.Along with reducing the amount of toxic air, range hood has become popular to help cut down development of germs, bacteria and mold in the kitchen. Commercial kitchen has been a major recipient of range hoods, with wall-mount gaining overarching traction. Consumers are vividly inclined towards wall mount commercial wood for it offers seamless ventilation power.

Grime and grease deposits tend to coagulate and turn into flammable glue-like substance inside the commercial kitchen hood system, thereby placing customers, employees and assets into potential danger of fire emergency. Range hood, thus, has gained traction in hotels and restaurants. The expansion of Quick Service Restaurants (QSRs) and food outlets has added further impetus to the commercial range hood systems. As such, commercial range hood system segment is anticipated to expand substantially during the forecast period.

Global Market Insights, Inc. projects range hood market size to exceed US$ 10 bn by 2026.

The residential sector has been one of the major revenue grounds for stakeholders as far as the adoption of range hood is concerned, as it tends to bring style and add aesthetic value to the home, along with enhancing air quality and home value. With the surge of sleek and stylish kitchen appliances, range hood has become the linchpin and decorative feature in the kitchen. To reiterate, range hood helps improve air quality by obliterating odors, grease, smoke that are released while cooking. Global Market Insights, Inc. predicts heightened investment in the installation of residential range hood.

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The emergence of smart range hood has augured well for the industry as end-users vie to offer seamless experience to customers. The inclusion of touch control and LED lighting has complemented smart range hood. Stakeholders are increasingly integrating LED lighting to conserve energy and play invaluable role in conserving environment.

North America and Europe are set to reign supreme in range hood market against the backdrop of soaring palpability of commercial range hood systems. Notable development of foodservice industry and increased demand for modular kitchen serve as a catalyst in the expansion of North America range hood market size. Presence of prominent manufacturing companies such as Elica, Broan-NuTone, Vent-A-Hood, Faber have further presented the possibility of a positive North America range hood market forecast

Meanwhile, APAC region is expected to offer lucrative opportunities to players vying to expand their footprints. The region is indicative of an expanding construction industry and end-users are increasingly inclined to add aesthetic value to their home, thereby boosting range hood market share. Not to mention, the continent is also indicative of a growing F&B sector and increasing restaurants and the like, further augmenting the demand for range hoods.

Author Name : Sunil Jha

Favorable government regulations to propel Asia Pacific oil storage tank service market size

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Strict regulatory norms and mandates to prevent collateral damage will drive Asia Pacific oil storage tank service market share over the next few years. The midstream and the downstream sectors have increasingly been demanding for oil storage services owing to the higher investments in the expansion of refining capacity. There has been a steady improvement in crude oil prices that has led to an increase in crude oil production. This has majorly influenced the expansion and up-gradation of numerous depots, terminals and tank farms.Few players involved in the Asia Pacific (APAC) oil storage tank service industry involve MISTRAS Group, Zaopin Technologies and John Wood Group among others. These firms have created digitally-integrated solutions to monitor and diagnose those tanks to be able to secure a competitive edge over other companies within the market.

Oil storage tank services are seemingly being supported by the government authorities as they have introduced multiple amendments that relate to cleaning, maintenance and inspection of the already existing storage facilities. APAC oil storage tank service industry size has been expected to surpass USD 210 million by the year 2025. There has been a rise in the investments in order to offer major protection and security against extreme conditions to prevent multiple technical losses.

The midstream and downstream sectors have increasingly accepted and adopted facilities equipped with high technologies. This is due to their properties of high efficiency and corrosion resistivity. Booming demand for crude oil of high value has coerced the authorities to ensure regular inspection of the storage depots, supporting the adoption of tank cleaning services and fueling APAC oil storage tank service market trends.

The passing of strict mandates that could help in the prevention of potential hazards will drive the growth of the regional service providers. Moreover, there has been an increase in the concerns pertaining to environment protection and energy security. The Indian government has reportedly introduced oil industry safety directorate (OISD) that has been given the duty to formulate self-regulatory measures that would help improve the terminal safety.

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Singapore oil storage tank service market share is slated to register more than 6% growth up to 2025. This has been primarily attributed to the rise in the net crude import coupled with the major refining infrastructure. The trends have impacted the demand for storage facilities as well as other related services. As per the Energy Market Authority of Singapore, the total amount of crude oil that had been imported in Singapore reportedly reached 57, 964.2 ktoe in the year 2017 from 46,324.2 ktoe back in 2011.

Moreover, the help of exclusive strategic measures to help develop the already existing reserve capacity has induced a rise in the trade flow, which in turn will fuel oil storage tank service market share in the forecast timeframe.

China oil storage tank service market forecast will observe significant growth prospects owing to the rising demand to fuel the existing refining capacity to be able to efficiently cater to the growing population. The country has a high demand for hydrocarbons that have forced periodic assessment of the oil storage facilities already existing. Additionally, the launch of number of online technologies that also includes drones, corrosion detecting equipment and guided robots will help influence the business outlook.

Author Name : Riya Yadav

How will the global nano zinc oxide market gain traction via rising demand from the cosmetics sector?

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Nano zinc oxides are increasingly used in the cosmetics and the paints & coatings sectors. Especially in the cosmetics sector, nano zinc oxides are used for making different skin creams and lotions. Growing customer awareness and demand for reliable and safe cosmetic products could support product penetration. Increasing purchasing power and the surging requirement for high quality cosmetic items would contribute to nano zinc oxide industry expansion.

According to a study conducted by Global Market Insights, Inc., the global nano zinc oxide market is anticipated to exceed USD 800 million valuations by 2026.

Coated nano zinc oxide are renowned for its UV blocking capabilities. It is mostly used as a viable ingredient for developing sunscreen cosmetic products. Stringent federal regulations and standards regarding the safety of cosmetic products could improve coated nano zinc oxide market dynamics. For instance, the U.S. FDA. is working with industry players to determine the safety of sunscreen active ingredients. Moreover, the need for new cosmetic products that complying with updated standards may augment the nano zinc oxide market share in the forthcoming years.

In the paints and coating industry, nano zinc oxides are used as mold inhibitors and pigment primarily to enhance the thermal stability and photostability of latex products. High-rise investments in the building and construction sector along with numerous renovation and expansion activities initiated on existing infrastructure is likely to accelerate the demand for architectural coatings.

Moreover, increasing production and exports of coating products in the U.S. could aid regional industry expansion. For instance, coating export from the U.S. was reportedly valued around USD 1.85 billion, accounting for two-thirds of the total industry exports. Moreover, development of new coating and paint formulation with reduced particle size distribution and nanoparticle concentration is anticipated to stimulate nano zinc oxide market size in the paints and coatings industry.

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The electronics industry is also accounting a noteworthy share in the nano zinc oxides market. The industry primarily opts for nano zinc oxide nanosheets owing to the product’s larger surface area and improved crystallinity. Increasing R&D activities and development of zinc oxide nanostructures and  nanomaterials blends could accelerate product traction this industry.

Nano zinc oxides have some remarkable properties, like the ability to trigger reactive oxygen species (ROS) with the release of zinc ions which support product usage in anticancer and antibacterial fields. However, toxicity concerns associated with the use of nano zinc could hamper market growth. Upsurge production of nano ZnO could also result in increased environmental release through domestic as well as industrial wastewaters, which may thereby restrain industry growth.

Prominent industry players operating in global nano zinc oxides market are increasing focused on offering high-quality, cost-effective products with the help of advanced processing technologies. Easy availability of products that offer features like anti-microbial and UV protection has strengthened the network of distributors and suppliers. Companies are also trying to expand their consumer base. For instance, in 2019, Advance NanoTek announced an extension of its production facility with the launch of its Australian plant in Brisbane to establish itself as frontrunner zinc oxide products in the industry.

Author Name : Abhijeet Kakade

Expanding electronics sector to fuel MIM Parts market growth through 2019 to 2026

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Metal Injection Molding (MIM) parts market is set to witness promising growth on account of its increased application in the electronics industry. Increasing use of MIM parts for defense, automobile, and aerospace segment are likely to further aid growth of MIM parts market during the forecast timeframe.The electronics segment has a considerable volume share in the MIM parts industry. Today, MIM parts are used in fiber optic parts, lighting devices, and smartphone parts among others. Sustained development of new cost-efficient technologies is expected to boost the consumer electronics segment industry in the coming years.

In 2018, electronics segment was the second-largest end-user industry with a market share of more than 33%. The segment is further estimated to grow at CAGR of more than 13% during the forecast timeframe.

Meanwhile, in terms of regional growth, China would mark a significant growth rate in a forthcoming timeframe owing to its rapidly expanding electronics industry. Additionally, rising automotive sales in emerging economies such as China, India, and Japan would create a dual-channel that would drive momentous growth in the industry.

With regards to industry, the MIM Parts market would likely witness significant growth in the future on account of the projected growth of the aerospace industry. Stabilizing crude oil prices, increasing passenger travel in Latin America, Asia Pacific, and the Middle East, and recovering in GDP growth are some of the key factors that are driving the commercial aircraft sector growth.

Metal injection molding technology is used to manufacture numerous components in the aerospace sector, including compressor blades, fasteners, bushings, inlets, brackets, and rotors among others.

Increasing defense spending from nations like the U.S, India, China, Japan, and Saudi Arabia is anticipated to further fuel defense aircraft demand during the forecast timespan. This opens up another facet of the aerospace sector for the MIM parts market.

Based on material, stainless steel is the most used metal for metal injection molding. In fact, it accounted for more than 60% of the total market share in 2018. This segment is projected to retain its dominance by the end of the forecast timeframe.

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Properties like high strength, high density, and corrosion resistance are the key factors that aid the incorporation of stainless steel in MIM parts. Moreover, stainless steel is widely used across numerous ends user industries such as firearms, automotive, and consumer goods, which are anticipated to depict a healthy growth rate during the projected timespan.

Consumer goods industry would likely account for a considerable share in coming years. The projected growth can be attributed to the rapid penetration of new feature-laden products and strengthening distribution channels in the industry.

On the other hand, rising purchasing power and shifting consumer inclination towards sophisticated and eye-catching products would further elevate the use of MIM parts in the consumer goods industry.

New product development is the key strategy adopted by market leaders to strengthen their market presence. For instance, CMG Technologies and AMT have recently introduced 3D printed MIM parts that they hope would bring in customer attention.

Key industry players operating in the MIM parts market include Advanced Material Technologies, CMG Technologies, CN Innovations Holdings Ltd, Form Technologies Company, Akron Porcelain & Plastics Co., Kinetics Climax Inc, Nippon Piston Ring Co. Ltd., Hoganas AB., and PSM Industries.

All in all, a flourishing electronics sector, a strengthening defense industry, rising automotive sales, and growing cost-effectiveness would drive the MIM parts market size in coming years. Global Market Insights, Inc., estimates that the (Metal Injection Molding) MIM parts market size would surpass a $5 billion valuation by 2025.

Author Name : Abhijeet Kakade

Prolific infrastructural advancements across the globe to bolster firestop sealants market outlook over 2019-2025

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Rapid developments across the residential & commercial construction sector aided by public & private collaborations will fuel firestop sealants market share. Favorable government initiatives such as housing for all and low bank rates will facilitate the expansion of residential construction activities in the coming years.Fire barrier sealants are extremely durable, leading to their widespread popularity in various applications such as porous and nonporous substrates sealing, sanitary fittings, ceiling wiring and electrical conduits. Additionally, the robust application potential of passive fireproofing solutions such as fillers, sealants and tapes in pipes, wires and cables will stimulate firestop sealants market demand over 2025.

Myriad government policies regarding the integration of passive fireproofing materials in construction applications will also add impetus to industry growth. For instance, various standards set by the EU, National Building Code, National Electrical Code (NFPA-70), International Building Code (IBC), Legacy US building codes, etc., regarding the utilization of sophisticated sealants, will boost firestop sealants market growth over the forecast spell.

According to Global Market Insight, Inc. estimates, the worldwide firestop sealants market size is projected to cross $500 million over 2025.

Considering the end-use application spectrum, firestop sealants market share from the industrial segment is expected to witness growth at a rate of over 4.5% through 2025. The product is used extensively in the automotive industry given the high fire risks faced by the sector owing to high exposure to flammable sources like solvents, paints, petrol and engine oils, among others.

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Likewise, the rising preference for lightweight materials for fuel efficiency and customer security enhancement will bolster product demand. Flourishing automotive production rates across prominent locations such as U.S, Brazil, India, China and Japan, among others will present several profitable growth prospects for key industry players.

Meanwhile, the commercial end-use segment of the Germany firestop sealants industry is expected to accrue appreciable gains of over 5% through 2025, owing to the burgeoning adoption of concrete joints and metals in the chemical, pharmaceutical and production sectors, with the aim of averting any fire-related mishaps. Furthermore, advantageous characteristics including high adhesiveness and robust fire obstruction properties will propel firestop sealants market trends from the commercial segment.

With regards to product-based segmentation, the firestop sealants industry is categorized into silicone and acrylic products. Of these, the acrylic sealants segment is expected to record revenue worth over $300 million by 2025. The product demonstrates strong application potential through exceptional movement and adhesion capabilities to a vast array of substrates including metal and plastic pipes, cable trays, static and dynamic joints for wooden floor & ceiling, ducts, cables and more.

Surging demand for efficient sealing of HVAC installations through metal or concrete deck undersides and fire-rated assemblies to inhibit smokes and fire passage will strengthen the overall firestop sealants market outlook over the predicted timeframe.

The APAC firestop sealants market share is expected to observe appreciable growth with over 5.6% CAGR through 2025. The thriving construction sector in the region is one of the pivotal factors driving the rapid progression of numerous Asian nations. To illustrate, the close proximity of China to ASEAN nations has led to a massive increase in its overseas infrastructure funding, following the formation of the Asian Infrastructure Investment Bank.

Positive transformation of the overall infrastructural landscape will further accelerate the adoption of fire proofing materials for construction activities, which will in turn impel firestop sealants industry expansion over 2025.

Author Name : Saloni Walimbe

Lawn and garden equipment market to amass huge profits from sports activities

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Rising number of residential and commercial construction projects and improving standard of living will enhance lawn & garden equipment market  growth. Lawn and garden equipment has found wide-ranging applications in parks, sports fields, etc. Also, lawn and garden equipment industry will witness growth due to  rising government initiatives in favor of green and sustainable environment.According to the latest research report published by Global Market Insights Inc., lawn & garden equipment industry share is likely to surpass 45 billion through 2025.

In 2018, lawn & garden equipment industry accumulated one-fourth of revenue share from application in golf courses, and the segment is likely to exhibit a similar growth pattern in the foreseeable future. The market derives substantial demand from multiple golf courses present worldwide. As per the National Golf Foundation, around 38,500 golf courses are present in the world. In addition, several attempts  made by  various countries towards the establishment of golfing facilities is likely to further inflate the demand for lawn & garden equipment. For example, in 2018, Turkmenistan had inaugurated Ashgabat Golf Club and listed itself among many golfing countries.

Industry players have been focusing on advancing technologies to improve cutting edge operations, which will stimulate lawn & garden equipment industry trends in the coming years. Major market participants are launching advanced products for building up their customer base. Also, they are trying to improve  their products with respect to key parameters such as battery efficiency and reduction of intermediate charging time.

For example, STIHL had rolled out a battery hedge trimmer in January 2017. The trimmer has a higher power-to-weight ratio, greater speed, and less operating cost. New product launches by companies with cutting edge technologies and better efficiency will spur lawn & garden equipment business growth. According to the lawn & garden equipment market forecast report, electric-powered equipment segment will grow with about 8% CAGR over 2019-2025.

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Among newly launched products, lawn & garden equipment with seating arrangements are gaining remarkable traction among end users.  Equipment with seat reduce fatigue of driver and improve  output. In 2018, Deere and Company had launched 100 Series lawn tractors to help customers with hassle-free and comfortable operation.

Lawn and garden equipment market forecast report projects that  Asia Pacific will emerge as a major contender in the business. The region is experiencing betterment in economic conditions that have accelerated urbanization and housing activities in the region. Also, scheduled upcoming sporting events, such as 2022 Winter Olympic Games in China and 2020 Olympics in Japan are likely to generate demand for lawn & garden equipment. Hosting stadiums need an aesthetic  appeal to attract more audiences for watching live games. Asia Pacific lawn and garden equipment industry size is likely to witness CAGR of more than 8% over 2019-2025.

Adoption of garden equipment is surging due to rising consumer spending and international trade agreements. Honda, Deere & Company, Husqvarna Group, MTD Holdings, Kubota, Robert Bosch GmbH, and TTI are the eminent players operating in the lawn & garden equipment industry. R&D investments, novel & advanced product launches, and product differentiations are some of the strategies incorporated by these industry participants to gain a competitive edge over the market.

Author Name : Anchal Solanki

Ice maker market size likely to gain huge proceeds from food service sector by 2025

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Amplifying focus on quality and presentation of beverages in high-end bars will improve the growth of ice maker market share. Boutique bars demand for various ice making machines for gourmet, square, and large ice cubes. Increasing disposable incomes have gushed the advent of modern kitchens and homes with built-in bars. People are opting to prepare cocktails and expensive drinks in their own built-in bars, which will boost demand for ice makers in residential applications. Also, companies are rolling out advanced machines, which will enhance competition in ice maker industry.According to the latest research report published by Global Market Insights Inc., worldwide ice maker market share is likely to reach $2.5 billion by 2025.

Ice maker industry is gaining profits from commercial segments, such as food service and healthcare. Demand for ice makers is surging in hotels, restaurants, hospitals, bars, pharma companies, etc. Growing demand for ice makers is pushing major ice machine manufacturers to develop energy-efficient and restaurant-specific machines. Rapid development and  adoption of ice machines will show a positive impact on ice maker market outlook.

Nugget ice maker industry  is likely to exhibit robust growth due to the rising popularity of expensive drinks, and cocktails served in high-end bars, and restaurants, which has increased the usage of nugget ice maker globally. Nugget ice finds application in various cooling purposes, majorly in beverage displaying in shopping malls, bars, grocery stores, and departmental stores.

Ice maker market is witnessing innovations of new products owing to the escalating demand for ice of different shapes and sizes in food service sector. Manufacturers are outlaying heavy investments in R&D activities to cater to the spiraling demand from food processing, service, and transportation sectors.

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Nugget ice makers have gained significant traction within the healthcare sector due to the easy consumption of nuggets by patients. The chewable property of nuggets has inflated its applications in healthcare centers, hospitals, etc. Also,  organ storage and rehabilitation procedures in the healthcare sector need ice, which will help to enhance ice maker industry trends.

Middle East ice maker market size is expanding with  development of regional infrastructures, such as restaurant chains, supermarkets, and hypermarkets. There is a huge demand for fast food and beverages in the region, which has amplified ice maker industry share. According to the International Trade Council, in Dubai, around 20 new community shopping malls are under construction and are likely to be operational by 2020.

Also, the UAE will host World Expo 2020 and Qatar will hold FIFA World Cup 2022, which will upsurge travel and tourism in the region. Organization of such events in the Middle East will offer lucrative growth prospects to ice marker industry players.

Market participants are focusing on the use of natural refrigerants, including carbon or propane to decrease harmful impact on the environment. Also, they are aiming to develop advanced hydrocarbon-based machines. Some of the key players present in ice maker market are Cornelius, Inc., Howe Corporation, Ali Group S.p.A., Manitowoc Ice, Hoshizaki Corporation, Middleby Corporation, Brema Group S.p.A., North Star Ice Equipment Corporation, and AB Electrolux.

Author Name : Anchal Solanki