North America gluten free food market to witness a modest 9.5% CAGR over 2018-2024, rising number of conventional stores to propel the industry growth
The global gluten free food market has gained remarkable momentum from the fast changing lifestyles and increased consciousness regarding the availability of healthier food options provided by the food and beverages industry. While people are realizing that a gluten free diet results in better living, for people suffering from celiac disease or gluten allergies these food options present a solution to sustain their life. An upsurge in consumer spending across the globe has enabled food companies to delve into the research and development of bakery, snacks and packaged products made without gluten, giving an impulsion to the gluten free food industry. Rising popularity of products made from millet, rice and quinoa to substitute wheat or barley-based food has also outlined the industry penetration. With worldwide revenue surpassing USD 6.5 billion in 2017, the gluten free food market is poised to witness a higher consumption rate over the next few years.
U.S. Gluten Free Food Market Size, By Product, 2017 & 2024, (Kilo Tons)
Extensive health benefits of gluten free food have been observed to overcome various disorders, especially for people having celiac disease, which is an autoimmune disorder that restricts the processing of proteins present in gluten food. It was estimated that in North America, 1 in every 133 people have celiac disease and in about 5% to 10% of the cases people remain undiagnosed, as sometimes the symptoms do not manifest themselves. People adopting a gluten free diet also experience increased energy, while proven advantages for autism patients has further propagated the gluten free food market. An incidence demonstrated that a child, suffering from severe autism where he could not even speak, was once put on a gluten free and casein free diet. He showed incredible improvements in response to the diet and, albeit untreatable behavioral issues, could then speak and act like any other child not having autism.
The obvious significance of a controlled gluten free diet has invigorated the gluten free food market with a renewed dynamism, making packaged and ready to eat gluten free meals available in a vast number of conventional stores and restaurants throughout North America. Consumers are seen buying healthy meals regardless of their economic circumstances if they aim to say in good shape, and the growing shelf space in convenience stores has allowed the influx of new food products. The National Association of Convenience Stores (NACS) in the U.S. had reported that by 31 December 2017 the number of convenience stores in the country had increased to reach a record figure of 154,958. Besides, other conventional stores such as grocery and drug stores also increasingly offer packaged food, which is indicative of a promising income source for the gluten free food industry.
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According to the NACS, the total number of drug stores in the U.S. were 43,169 by the end of 2017, with store owners focusing more on innovative products and customer satisfaction, giving opportunities to businesses in the ready meals segment. Club stores where members enjoy different offers on food products are also contributing notably towards the gluten free food market, Walmart owned Sam’s Club being a prominent example. The chain has almost 600 clubs in the U.S. and Puerto Rico and had reported earnings of USD 59 billion for the financial year ending 31 January 2018. The company provides consumers with options like gluten free bread, cakes snacks box and several ready meals to keep up with the outpour of demand for health-friendly food. Overall, the USD 378 billion U.S. food industry has played an exceptional role in pushing the gluten free food market expansion by bringing in enhanced meal versions of classic North American recipes.
To elaborate, Texas company Cece’s Veggie Co. had recently re-created the macaroni and cheese made with pasta in a product which gluten free and organic, demonstrating the steps toward a healthier future taken by the ready meals segment. Kidfresh from New York has also expanded its frozen meals line by added gluten free food such as mac and cheeses or ham and cheese burritos while TH Foods Inc. has launched gluten free crisps and crackers which are made out of vegetables and cheese. Portions Canada sells No Gluten meals and food ingredients to cater to the growing consumer base in the country. Depicting how the gluten free food industry is reaching consumers through distinct product types, the gluten free ready meal segment is expected to earn over USD 1.5 billion in remuneration by 2024.
With the presence of major brands that produce gluten free products such as meals, cakes, breads and cereals, the North America gluten free food market is expected to record a 9.5% CAGR from 2018 to 2024. Kellogg’s, General Mills and Boulder Brands are some key players in the region responsible for promoting the gluten free food industry to millions of conventional store customers and provide effective solutions for maintaining a light and healthy diet.
Author Name : Pankaj Singh
Natural gas based steam boiler market to garner substantial proceeds by 2025, escalating sales of condensing boilers to drive the technology landscape
The rising number of investments in the development and expansion of manufacturing facilities is touted to propel the global steam boiler market. A majority of governments worldwide are increasingly reorienting their focus towards the overall expansion of their key economic sectors in conjunction with some of the world’s leading financial institutions, including bigwigs like the World Bank and the Asian Development Bank.
U.S. Steam Boiler Market Size, By Technology, 2018 & 2025 (USD Million)
The expansion of the manufacturing sector though, is liable to come at the cost of the environment – a major factor that most governments have been taking note of, and have accordingly been enforcing strict regulations on the design and deployment of energy-driven components. The enforcement of a stringent regulatory spectrum is thus bound to bring forth a sizable shift in the steam boiler market outlook in the years ahead.
In fact, these regulations have already compelled prominent industry players to develop intelligent energy efficiency solutions with one of the most recent one being the MEC Optimize from Bosch, which is a smart digital efficiency assistant designed to help boiler operators & attendants to identify potential energy losses & recommend concrete countermeasures that effectively address the issue. MEC Optimize is already being used by Park & Bellheimer, which expects to save over €80,000 per year in energy costs through the upgrade.
Global steam boiler market | Impact of strict emission regulations on natural gas powered steam boiler sales
Strict government regulations that make the adoption of low-emission fuels mandatory and the increasing emphasis a number of industrial sectors have been stressing on to adhere to these regulations & sizably reduce their carbon footprint are two most pivotal factors responsible for driving the natural gas powered steam boiler industry in the years ahead.
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One instance of a strict emission regulation can be claimed to EU’s ambitious goal of reducing the region’s GHG emissions by as much as 40% by 2030 compared to the GHG levels of the 1990s. These regulations coupled with dropping natural gas prices and rising adoption of numerous sustainable technologies are expected to be responsible for driving the natural gas based steam boiler market in the years ahead. According to the Oxford University, the demand for natural gas across Europe started to pick up in 2015 and has continued to surge ever since; reaching the 548 billion cubic meters (bcm) mark in 2017, which was the highest level of natural gas demand over the previous seven years. This positive trend would prove to be significantly conducive for the growth of the natural gas powered steam boiler market size, which is slated to expand at a CAGR of 4% 2019-2025.
Global steam boiler market | Enhanced operating efficiencies to drive the sales of condensing steam boilers
The issues of sustainability & energy efficiency that have gripped myriad industrial sectors worldwide, are projected to be among the primary factors responsible for propelling the condensing steam boiler industry. In traditional steam boilers, the generated heat is passed on to a heat distribution system, and the combustion gases & water vapor generated during the process are discarded as waste. Condensing steam boilers are specifically designed to reduce this waste as they are capable of properly harnessing the evaporation energy and turning it into heat, giving them an added advantage over conventional steam boilers.
This capability not only makes condensing steam boilers an ideal option for organizations looking to reduce their carbon footprint & adhere to the increasing regulations, but also allows them to significantly enhance their operating efficiencies. With some industry players boasting of their products attaining efficiencies of up to 98%, the demand for this boiler is slated to continue increasing over the coming years. Attributing primarily to the efficiency factor, the condensing steam boiler market is expected to depict a CAGR of 5% over 2019-2025.
Driven by the projected rise in the demand for various steam boiler systems, pertaining to the technology and fuel deployed, the global steam boiler market is projected to attract substantial investments in the years ahead. In fact, a report by Global Market Insights, Inc., claims steam boiler market size to exceed the $19 billion renumeration mark by 2025.
Author Name : Akshay Kedari
Polymer-based surge arrester market to procure massive proceeds by 2025, U.S. to emerge as a prominent revenue pocket
With rising efforts to curb power outages in emerging economies & the rapid implementation of T&D systems worldwide, surge arrester market has charted a course of immense growth in the last few years. The product is used to protect equipment from over-voltage transients in T&D systems caused by internal switching events or by lightning strikes. Rapid industrialization across emerging countries along with increasing power generation capacities to meet electricity demands have also complemented the industry landscape.
UK Surge Arrester Market Size, By Voltage, 2018 & 2025 (USD Million)
For instance, the average electricity consumption for households was estimated around 3,500 kWh in 2010, but has increased drastically in the last few years owing to rapid urbanization, facilitating the need of efficient overvoltage protection solutions to optimize the continuity of power services whilst ensuring personal safety and reduced immobilization costs.
How will the rising occurrences of lightning strikes amplify product adoption?
A lightning strike has the potential to destroy millions of home appliances across a power grid. It can also cause significant amount damage to T&D equipment like power transformers owing to the injection of around 120 million volts of added voltage into the system. Indeed, a lightning strike can cause a transformer to blow, knocking out power to thousands of people or even leading to cases of electrical fire outbreaks, particularly in dry environments.
According to the National Fire Protection Association (NFPA) reports, during 2007-2011, the U.S. local fire departments responded to around 22,600 fires caused by lightning per year – the fires caused damage to direct property of around $451 million annually. To counter such damages, power stations operators are increasingly installing surge arresters to protect customer’s home appliances and power station infrastructure, which will in turn supplement the expansion of the global surge arrester industry.
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High voltage products, as per estimates, are anticipated to record extensive sales in the years to come. The product’s increasing use across HVDC (high voltage direct current) lines to drive AC and DC applications requiring power inputs of over 1,100kV will fuel the product demand. Moreover, rising infrastructure development projects in emerging nations to meet residential and industrial demands will also propel high voltage surge arrester market size, slated to depict a CAGR of 6% over 2019-2025.
In 2017, India revealed plans to construct an 800-kV transmission line capable of offering power to over 80 million people in the country. The increasing adoption of FACTS (Flexible AC Transmission Systems) to increase the reliability of line networks along with improved measures to protect transmission & distribution equipment from overvoltage will also stimulate the industry growth.
Speaking of the material preference, it is imperative to mention that polymer-based surge arresters find exceptional applications across numerous sectors. Owing to the easy installation & handling, low operational & manufacturing cost, reliable performance in tough environments and superior breaking resistance under overload scenarios, polymer-based surge arrester industry is likely to depict an expansive growth graph in the years ahead. Growing investments to upgrade existing power transmission & distribution infrastructure will also propel the polymer-based surge arrester market size, which was pegged at around USD 600 million in 2018.
U.S. to emerge as a prominent revenue ground for surge arrester market
Rising energy demands along with the growing focus on upgrading existing substations to improve power reliability have been touted to expedite the U.S. surge arrester market in the coming years. With a massive rise in the cases of transformer failure due to absence of proper power protection devices, the demand for these products is bound to increase exponentially. Moreover, increasing cases of lightning strikes in states like Florida will also complement the industry landscape.
Reports claim that, on an average, lightning strikes the Florida Power & Light (FPL) service territory over 300,000 times in a year, delivering currents ranging from 10,000 – 200,000 amps, that can induce voltages exceeding a million volts. To tackle such high voltage spikes, FPL has adopted surge arresters as its primary defense solution. As per the INMR, an estimated 1,545,000 surge arresters find home on the FPL distribution system, signifying that the region is an apt revenue pocket for the growth of the surge arrester industry.
These exceptionally efficient systems, are massively used worldwide to protect electrical equipment and power system installations against internal switching events and lightning surges. Surge arresters can also directly divert overvoltage to the ground to protect the equipment from damage. Considering their exponential demand graph, it wouldn’t be incorrect to state that the global surge arrester market size of bound to increase by the day, with a target revenue estimation of $2 billion by 2025.
Author Name : Mateen Dalal
China heat exchanger market to witness accelerated growth over 2019-2025, escalating EV production to characterize the regional industry landscape
The global heat exchanger market has depicted commendable expansion over the past few years with profound applications in residential and industrial heating and cooling systems. The device can effectively transfer heat between two or more fluids and is widely used in diverse applications like in refrigerators, solar water heaters, space heating systems, in petroleum & chemical plants and more. Thanks to rapid technological advancements in heat exchanger systems, the product’s size has scaled down considerably in recent years, allowing its use in critical medical equipment like artificial heart-lung machine and other design specific tools.
U.S. Heat Exchangers Market Size, By Technology, 2018 & 2025 (USD Million)
For instance, in March 2019, BPHE (brazed plate heat exchanger) provider, SWEP International unveiled its AsyMatrix BPHE design technology which improves heat transfer while reducing pressure drop and refrigerant charge. The company also attained a breakthrough in compactness with its air dryer incorporated with an integrated separator (ADWIS), one of the smallest air dryers available in the market integrated with a refrigerant heat exchanger. Advancements such as the aforementioned are certain to augment the product adoption over the coming years.
Rising solar water heating system adoption to boost the market growth
The expanding focus on reducing global CO2 emissions whilst cutting cost on electricity bills has led the residential and commercial sectors to adopt solar water heating systems. This zero-emission solution utilizes heat exchangers, usually made of copper due to its great thermal conductivity and higher resistance to corrosion, to transfer absorbed heat in solar collectors to the liquid or air to heat water or a space.
In an urbanized setting, the product adoption is primarily driven by a stringent regulatory landscape that focuses on reducing greenhouse gas emissions and increasing the proportion of renewable energy usage for all energy sources – including solar thermal applications. Reports from the International Energy Agency’s Solar Heating & Cooling Programme cite that the Chinese government expects to reach the target of 15% renewable energy consumption of total energy consumption by the end of 2020 – a feat that would entail solar energy applications to be a vital component.
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The proliferating adoption of electric vehicles to curb emissions across the globe has also been a driving factor for the growth of heat exchanger industry in recent years. Nowadays electric vehicles are equipped with liquid cooled plate heat exchangers to improve the battery life of an EV which suffers from premature degradation or aging due to heat generation during charging and discharging periods. The device is also used in cabin cooling systems and for cooling drive motors and electronic components in the electric vehicle.
The rising adoption of electric vehicles owing to their cost-efficient, zero-emission offering has led to upsurge in heat exchanger sales in recent years. Moreover, according to Edison Electric Institute (EEI) reports, renowned automotive giant BMW, Daimler, and Volkswagen have announced plans for EV sales targets in the range of 15%-25% by 2025. The increasing spectrum of commitments from pivotal automakers are certain to augment EV manufacturing, the consequence of which will be felt across the global heat exchanger market.
Speaking of EVs it is pivotal to mention that China is bound to emerge as one of the most lucrative heat exchangers markets worldwide. This can primarily be attributed to the increasing adoption of renewable energy sources and the expansive electric vehicle market in the region. The country is rapidly advancing in terms of EV production, with sales speculated to cross over 2 million in 2019, from 1.1 million in 2018. With rising technological developments incorporated in EVs and myriad government incentives, it is anticipated that EVs will take up a substantial proportion of the market share in China by 2025. With rising urbanization and increasing investments in solar water heater systems, China heat exchanger market is likely to experience a positive growth graph in the coming years.
A pivotal device that transfers heat from one medium to another, heat exchangers have found long-term applications across several industry sectors like automotive, chemical, oil & gas, HVAC and more. The product’s widespread application spectrum, especially in the EV sector will certainly push the market growth in the future. Reports from Global Market Insights, Inc., claim that the heat exchangers market size will exceed $13 billion by 2025.
Author Name : Mateen Dalal
Global transcatheter heart valve replacement market valuation to hit USD 10 billion by 2025, transapical approach to command mainstream attention
The global transcatheter heart valve replacement market is slated to emerge as one of the most lucrative investment avenues in the ensuing years, primarily owing to the rising prevalence of valvular diseases and the growing number of patients opting for surgical and minimally invasive replacements. On these grounds, numerous medical device companies have been placing their bets on advanced transcatheter heart valve devices, that would help augment the expanse of this industry, especially in developed regions like North America and Europe.
U.S. transcatheter heart valve replacement market, by product, 2018 & 2025 (USD Million)
Citing an instance, Edwards Lifesciences recently invested $35 million for an exclusive right to buy Corvia Medical, a company that is committed to an important trial in the U.S for its InterAtrial Shunt Device. The device is also the first transcatheter designed to treat heart failure with the help of midrange or preserved ejection fraction. In a separate transaction, Edwards Lifesciences even acquired assets of Mitralign, a manufacturer of investigational transcatheter annuloplasty system for the treatment of functional mitral and tricuspid regurgitation. It is rather discernible that massive investments and acquisitions by industry leaders will be one of the significant factors driving the global transcatheter heart valve replacement market over 2019-2025.
The growing prevalence of pulmonary valve disease and cardiac diseases will further proliferate industry growth. With the emergence of an aging society, heart diseases have become one of the most prominent health problems worldwide. Heart disease incidences are estimated to rise continuously over the next few decades, as the geriatric population of people above 60-years of age are expected to double by 2025 and triple by 2050 globally. The proportion is more likely to affect the Asia-Pacific region, therefore most of the world’s cardiovascular burden is predicted to occur in this area.
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The prevalence of cardiovascular diseases is considerably high in nations like India and China and has increased gradually over the past few years, however, it is appropriate to mention that the quality of treatment has also improved gradually. Ergo, the rising prevalence of cardiovascular diseases paired with improving disease treatment, including heart valve replacements would lead to APAC transcatheter heart valve replacement market depicting commendable gains in the years to come.
Speaking of improving disease treatment, the transapical approach is one of the leading surgical approaches that is lately being adopted on an expansive scale worldwide. Recently, for instance, Neovasc Inc., a leading developer of minimally invasive TMVR replacement technologies, announced that its transcatheter mitral valve replacement device Tiara was featured in an update presentation at the Cardiovascular Research Technologies meet in Washington DC. Tiara is implanted in the heart through a minimally invasive transapical approach without the need for open-heart surgery or using the cardiac bypass machine. Presently, the product is being evaluated in two ongoing clinical trials namely TIARA-I in the United States, Canada and Belgium and TIARA-II in Germany, the United Kingdom, and Italy.
According to the latest research by Global Market Insights, the transcatheter mitral valve replacement industry size from transapical approach is anticipated to grow at a CAGR of 14% over 2019-2025. This approach is renowned for valve-in-valve implantations in the in mitral bio prosthesis and the valve-in-ring implantation (deployed in annuloplasty rings, for patients afflicted with acute mitral regurgitation). Hence, an uptick in cases of the mitral valvular disease will generate substantial demand for transapical approaches, thereby augmenting the transcatheter heart valve replacement market in the ensuing years.
Furthermore, approval by federal executive departments to reduce the effects of heart failure will further boost market growth. For example, FDA recently approved a new indication for heart valve repair devices that are meant to reduce moderate-to-severe mitral regurgitation and leakage of blood into the heart’s left atrium that can result in symptoms of heart failure such as fatigue, shortness in breath and swelling in the legs. The United States consists of almost 6.5 million adults suffering from heart failure, with a small percentage of these patients also affected by moderate-to-severe mitral regurgitation, increasing the risk of heart failure. Thus, the approval of heart repair devices by major government bodies will also significantly favor the expansion of transcatheter heart valve replacement market in the foreseeable years.
Given the changing trends in the healthcare fraternity, with respect to medical devices and treatment methodologies, the global transcatheter heart valve replacement market is anticipated to undergo a transformation of sorts in the coming years. Indeed, the overall transcatheter heart valve replacement industry size is expected surpass a valuation of $10.5 billion by the year 2025, according to Global Market Insights, Inc.
Author Name : Krithika Krishnan
Global telemedicine market set to garner over USD 130 billion by 2025, India to emerge as one of the most profitable growth avenues
Drastically changing the paradigm of the global healthcare space, telemedicine market has been gaining immense traction in the recent years owing to innovative and path-breaking technological solutions. Apparently, telemedicine is anticipated to become the most used and accepted method of diagnosis and prescription due to its numerous benefits. It has enabled healthcare professionals to access a patient’s medical records including computed tomography scans, medical resonance imaging scans, electrocardiogram, and X-rays remotely.
U.S. telemedicine market, by service, 2018 & 2025 (USD Million)
In this regard, taking note of a few reliable statistics would signify the growing clout of telemedicine industry in the global healthcare sector. Apparently, it is being said that telemedicine had about seven million users in the U.S. during the year 2018 and around 90 percent of physicians working on tele-health platforms. Notwithstanding the proliferation of telemedicine in the developed countries such as the U.S., it is quite imperative to take note of the fact that low-income nations and developing economies too are pouring in considerable resources in laying out a robust pathway for the expansion of telemedicine industry in their respective regions.
Telemedicine industry: A new horizon on the public healthcare landscape of India
Despite a large number of healthcare programs undertaken by the private players and government institutions, the Indian healthcare ecosystem faces innumerable challenges including inconsistent quality standards, insufficient public-sector investment, low insurance access, shortage of qualified Medicare professionals, a drastic shift in the disease burden, and growing number of underserved elderly populace.
In this regard, general consensus dictates that the requirement of a major intervention is on the cards, and digital technology can provide respite to the Indian healthcare system. Undoubtedly, telemedicine is one such prominent factor that can assist in bridging the gap and increase quality and accessibility of healthcare while reducing the cost of healthcare substantially. It has been well-documented that telemedicine has brought down patient and provider costs in the most remote hinterlands.
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In fact, the expansion of telemedicine market across India is gaining momentum in the recent past owing to various programs being undertaken by the national government and numerous other research organizations. Enumerated below are a few instances that highlight the significance of telemedicine industry in India’s current healthcare space:
- In 2016, the Indian Government announced the launch of a telemedicine initiative in partnership with Apollo Hospitals to provide healthcare facilities in the rural areas of the nation. Named ‘Sehat’, the service would allow people to consult doctors online and order generic medicines as well. Reportedly, people can now visit Common Service Centers and fix an appointment for seeking expert consultancy with a doctor.
- In 2018, a Memorandum of Understanding (MoU) was signed between the Development and Education Communication Unit of Indian Space Research Organization (ISRO) to establish telemedicine nodes for the Indian defense forces. It is being said that the joint initiative would drastically transform the reach of telemedicine to airmen, combat soldiers, and sailors deployed in isolated and remote posts.
Considering the positive impact of the aforementioned initiatives, it will not be incorrect to state that the telemedicine industry would be one of the key factors which would redefine the extension of quality and affordable healthcare to the citizens of India, especially the ones residing in rural areas. In fact, as per a research report compiled by Global Market Insights, Inc., India telemedicine market is slated to expand at an overwhelm y-o-y growth rate of 22.4 percent over 2019-2025.
With the rise of new-age technologies, telemedicine as a practice is going through transformational changes over the recent years and is gaining acceptance as a viable method of patient care. In an era of growing telecommunications network and increasing pace of integration between IT sector and healthcare industry, it is quite certain that the contours of the global telemedicine market – slated to surpass a remuneration scale of USD 130.5 billion by 2025 – indicate a highly-promising outlook for the worldwide medical care space.
Author Name : Saif Ali Bepari
India ABS market for automotive POP application to procure massive returns by 2024, increasing product deployment in wheels & emblems to characterize the industry outlook
The ABS market for automotive plating on plastics application has, of late, been experiencing appreciable growth on account of the product utilization in manufacturing automotive grills. Essentially used in automotive systems including front grills, radiator and air conditioning, these grills form a pivotal component of the deployment spectrum of the ABS industry for automotive POP application, owing to the product’s durability and high corrosion resistance.
U.S. ABS Market Size for Automotive Plating on Plastics (POP) Application, By Application, 2017 & 2024, (Kilo Tons)
An influx in the implementation of quality standards in automobile manufacturing has been observed lately, in order to increase passenger safety. Owing to the beneficial attributes of ABS, which includes element rigors withstanding and chemical resistance, the demand for this product has only been increasing in automobile component manufacturing, which will gradually propel the growth of the ABS market for automotive plating on plastics application.
Moreover, supportive initiatives from the governments worldwide, pertaining to the utilization of ABS will further steer the growth of this industry in the years to come. Say for example, the FDI policies implemented by the Government of India have been helping several foreign automotive industry players in establishing manufacturing units in India, thereby boosting domestic production. Given the low labor and production costs, the manufacturing of automobiles in the region would gradually help boost the India automotive industry, the impact of which would be marginally felt across the regional ABS market for automotive plating on plastics application. As a matter of fact, the India ABS industry size for automotive plating on plastics application has been touted to register a CAGR of 7% over 2018-2024.
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The global ABS market trends for automotive plating on plastics application have been touted to thrive successfully in the years ahead, on account of the broad application spectrum of the product in automotive component manufacturing. The paragraphs below offer a precise gist of the application landscape of this industry, that would help justify the remuneration that the global ABS market for automotive plating on plastics application is estimated to garner by 2024.
Unveiling ABS market trends for automotive plating on plastics application from wheels:
The deployment of ABS in wheel production is expected to majorly propel this industry in the years to come – indeed, wheels are anticipated to emerge as one of the most lucrative application avenues for the ABS market for automotive plating on plastics application. Citing a regional instance, driven by heavy investments, the tire industry in India contributed to around 3% of the manufacturing GDP, while the whole automotive sector accounted for 7.1% of the GDP and about 49% of the country’s manufacturing GDP in FY 2015-16. This inherently proves that tire manufacturers in India are on the verge of modernizing their production methods, powered by the demand and supply graph, which has been found to have a direct impact on automobile sales. The trend has indeed been found to have a global presence, indicating that the demand for ABS to be used in wheels will only serve to increase in the years ahead, majorly driving the overall ABS industry for automotive POP application from wheels.
The latest trends in the automotive space also include an extended focus on better traction and low rolling resistance to increase on road performance and fuel efficiency, and inclusion of more radials that consume less fuel. This has necessitated the incorporation of several advancements in tire manufacturing, driving the ABS market size for automotive plating on plastics application from wheels.
Unveiling ABS market trends for automotive plating on plastics application from emblems:
As per reliable reports, the demand for ABS in emblem manufacturing is forecast to consistently increase in the years ahead. Quite overtly, this growth could be accredited to the massive expansion of the automotive industry that has been demanding enhanced emblems of late, pertaining to changing consumer demands. Given that these components are basically deployed by automobile manufacturers to showcase the brand logo and attract a wider consumer base, it has become vital to ensure high-grade aesthetics and advancements in product design and development.
Several global emblem manufacturers like Elektroplate, Billet Badges, and more, are found to have been engaged in designing and manufacturing custom badges and emblems. This has consequently surged the demand for ABS for POP application given the attributes of ABS such as a glossy finesse, light weight, and easy adherence to metal. As per estimates, the global ABS industry share for automotive POP application is anticipated to register a CAGR of 6% over 2018-2024.
Endorsed by a broad application terrain, the ABS market for automotive plating on plastics application is estimated to showcase a highly profitable remuneration graph in the upcoming years. As per estimates, the valuation of ABS market for automotive plating on plastics application would cross US$2 billion by the end of 2024.
Author Name : Saurav Kumar