Industrial Safety Gloves Market to earn lucrative gains via automotive applications over 2016-2023, APAC to be a major revenue pocket
Industrial Safety Gloves Market is slated to witness a tremendous expansion, subject to the regulatory compliance regarding worker safety and health in hazardous working environments. With a rapid surge of industrialization, professional sectors such as manufacturing, automotive, and semiconductors have been adopting advanced machinery, many of which are likely to cause harm while operations. To combat these dangers at the worksite, the government has mandated norms to use safety wearables, which will stimulate industrial safety gloves market. In 1990, the ASTM (American Society for Testing and Materials) and NFPA (National Fire Protection Association had already introduced regulation regarding worker’s safety and health. Similar other organizations have been following the trend, which will augment the business expansion. According to Global Market Insights, Inc., “Industrial safety gloves market generated a revenue of USD 4 billion in 2015, and is projected to exhibit a CAGR of 6.5% over the period of 2016 to 2023.”
U.S. Industrial Safety Gloves Market size, by material, 2012-2023 (USD Million)
Industrial safety gloves find applications across the chemical, automotive, machinery, construction, metal fabrication, food processing, healthcare, aviation, semiconductor, medical devices, flat panels, pharmaceutical, and oil & gas sectors. Semiconductor application segment collected a revenue of USD 320 million in 2015 and will register considerable growth rate over the years ahead, subject to the product’s usage to prevent fingerprints and surface contamination.
Reusables and disposables are the main products of industrial safety gloves industry. Reusable products are further divided into dipped, supported knitted, and knitted products, Industrial safety gloves industry size from supported knitted products was worth more than USD 1.2 billion in 2015 and will exhibit significant revenue over the coming timeframe. This product is extensively used across the construction, automotive, warehousing, general purpose, and timber handling sectors.
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Industrial safety gloves market size from automotive applications is slated to record an annual growth rate of more than 7% over the period of 2016 to 2023, driven by the product’s requirement for repair and maintenance activities. Additionally, escalating expansion of automobile sector across various countries such as India, China, Germany, and UK will fuel the market trends. Europe industrial safety gloves market is slated to grow at an annual growth rate of more than 5.5% over the period of 2016 to 2023. Implementation of stringent worker safety norms across this region will propel the regional industry share. Germany, France, and UK will contribute significantly toward the Europe industrial safety gloves industry growth.
Cut gloves, a sub-segment of disposable products, will register an annual growth rate of more than 6.5% over the coming years of 2016 to 2023, owing to the prominent use of the product to protect arms and hands in hazardous work environments. They are also used to protect workers from cuts and abrasions in the shipping, construction, metal, and glass industries, which will boost industrial safety gloves industry size noticeably.
Considering the geographical landscape, Asia Pacific industrial safety gloves industry will record considerable CAGR over the coming six years. Japan, China, India, and South Korea will be the major revenue contributors.
U.S. industrial safety gloves market share, having had a revenue of USD 980 million in 2015, will collect noticeable revenue over the years ahead. The growth can be attributed to the surging investment in construction activities, growing industrialization, adoption of safety norms, and increasing awareness regarding hygiene and safety.
The notable participants in industrial safety gloves market are Top Glove, Supermax Corporation, Ansell, Kossan, Hartalega, MCR Safety, Latexx Partners Berhad, Rubberex Corporation, RFB Latex Ltd, Honeywell, Acme Safety, and Towa Corporation.
Author Name :Sunil Hebbalkar
North America industrial protective clothing market to witness massive growth prospects in the coming years, U.S. to drive the regional demand
U.S Industrial Protective Clothing Market size, by application, 2015 & 2023 (USD million)
Based on application landscape, industrial protective clothing market is primarily segmented into chemical defending clothing, clean room clothing, mechanical protective clothing, flame retardant apparel etc. Amongst the various application domains, durable and disposable based protective clothing are highly prevalent. In addition, flame retardant clothing is mainly adopted in industries which are highly prone to fire related potential perils. Mandatory Safety regulations in sectors such as oil and gas, construction, metal forming, etc. have highly increased the overall market demand for flame retardant clothing. Industrial protective clothing industry share from flame retardant apparel application was over USD 1.3 billion in 2015, and with a heavy market demand, it is slated to register a striking double-digit annual growth rate of 14% over 2016-2024.
Clean room protective clothing is highly deployed in electronics units, clinical laboratories, as well as chemical laboratories. Raw material which is highly used in this type of clothing manufacturing is filament polyester as it avoids all types of infection and contamination. In 2015, clean room clothing recorded a revenue over USD 800 million. Increasing demand for light weight and durable protective apparel in oil and gas industry is thriving the mechanical industrial protective clothing market which is estimated to surpass USD 2 billion over the coming six years.
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Durable protective clothing emerged as the leading product segment, by accounting for an industry share of USD 3 billion in 2015. High durability, superb wear resistance, and enhanced utility make it the most preferred choice for product managers who deal with the safety protocol of the workers. Durable industrial protective clothing market is expected to record a striking CAGR of 14% in the coming six years due to its heavy demand from oil and gas and mining industries. Disposable clothing is highly common in areas where the hazards are not that much intense. Some of the end use industries in which disposable industrial protective clothing market is generating a heavy momentum include petrochemicals, agriculture, chemical processing, pharmaceutical etc. Disposable gloves that hold a major chunk of overall disposable industrial protective clothing market alone accounted for USD 1.6 billion, out of the total industry share which was USD 2.1 billion in 2015. As per estimation, disposable protective clothing is projected to grow substantially at a CAGR of 13% over the period of 2016-2023.
With U.S. as the major contributor, North America industrial protective clothing market dominated the global landscape by covering almost 40% of the overall industry share. Strict regulations imposed in U.S. in correspondence to the safety canons have positively influenced the regional market dynamics. As per the record, North America market collected more than USD 2 billion in 2015. Shale gas exploration and escalating commercialization of renewable chemicals in this region are expected to propel the market in the years ahead. Considering the rapid industrialization and the increasing infrastructure spending of emerging nations such as India and China, Asia Pacific industrial protective clothing market is slated to attain the highest growth of 15% over 2016-2023.
Global industrial protective market is fiercely competitive with a diversified product portfolio. Strategic partnerships, technological complexities incorporation in the product design make the overall market highly intensive. Some of the prominent market players are Royal TenCate, DuPont, Teijin, PBI, and Bulwark.
Author Name :Satarupa De
North America Leather Chemicals Market to register significant gains over 2017-2024, escalating demand for high quality leather goods to drive the regional share
Leather Chemicals Market is set to witness phenomenal gains over the next few years, subject to the product’s extensive usage for belts, footwear, and garments. Leather chemicals possess characteristics such as weather resistance, smoothness, and an aesthetic appearance – in effect, they are used to provide a finesse to the final product and are used in the manufacturing process of numerous goods for furniture, personal care, etc., thereby impelling leather chemicals market size.
U.S. leather chemicals market size, by end-user, 2013 – 2024 (USD Million)
Leather processing industry is evolving as a major growth avenue for the overall leather market. The rising demand for high quality leather products has led to companies striving to innovate myriad chemicals to enhance finished goods. This will stimulate leather chemicals industry, which was worth USD 6 billion in 2016, is set to cross USD 10 billion, growing at a CAGR of 6% over 2017-2024. The government has also mandated certain norms for the Personal Protective Equipment Market with regards to worker safety. Since this market comprises safety equipment such as leather gloves and footwear, its development will subsequently transform the dynamics of global leather chemicals market.
Leading companies engage in growth strategies such as mergers & acquisitions to sustain their position and gain a competitive edge over their rivals. Key participants operating in global leather chemicals industry include Lanxess, Indofil Industries Ltd., Elementis PLC, BASF SE, Schill & Seilacher GmbH & Co., Clariant, Zschimmer & Schwarz, Bayer AG, DyStar, TEXAPEL, Lawrence International, Balmer Lawrie & Co. Ltd., Chemtan Company, TASA Group International, and Stahl International BV. Leather chemicals market being highly competitive, is characterized by numerous small and medium sized companies.
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Leather goods are prominently used across the American sub-continent, owing to which North America leather chemicals industry size, worth over USD 1 billion in 2016, will experience a massive surge over the years ahead, subject to the numerous regulations pertaining to PPE market and the manufacturing sector. North America held more than 20% of the total leather chemicals market share in 2016, and will grow at a remarkable pace over 2017-2024, subject to the presence of a huge consumer base for leather gods such as apparel and shoes.
Speaking of shoes, footwear applications dominated the overall leather chemicals market in 2016 with a contribution of more than 50%, and is expected to grow significantly over the years ahead, owing to enhanced consumer lifestyles, high demand for worker safety in manufacturing industries, and the rising purchasing parity of consumers. The subsequent growth of the industrial safety footwear market will also accelerate leather chemicals industry over the next few years.
Leather chemical market size from automotive applications will witness a CAGR of 5% over 2017-2024, subject to the rising automotive sector and the high demand for fashionable, aesthetic car interiors. With the rise in the sales of personal cars across the world, the requirement for stylish seat covers and other accessories will witness an incline, which will propel leather chemicals industry from automotive applications.
The automotive sector is currently experiencing a stupendous growth across the APAC region, subject to which leather chemicals market in the Asia Pacific leather chemicals market will witness significant surge over 2017-2024. With a combined contribution of more than 40% toward APAC leather chemicals industry share, China and India are touted to be the major revenue pockets.
In 2016, tanning products dominated the product landscape of leather chemicals market share, having held more than 40% of the overall share, with a valuation of more than USD 2 billion. These products comprise magnesium oxide, sodium formate, low sulphide unhairing agents, chromium sulphate, aldehyde tanning agents, fungicides, and formic acid, which are used to strengthen and stabilize the leather, thereby propelling tanning leather chemicals industry.
Finished leather chemicals are primarily used to improve the aesthetic appearance of the leather – these products cover the defects in natural leather, provide protective coatings, and enhances the features of the finished product in terms of smoothness, resistance, glossiness, durability, etc. Subject to this factor, finished leather chemicals market is projected to grow at a rate of 5% over 2017-2024.
Leather chemicals are used to provide a smooth, glossy finish in many construction applications. On these grounds, the rapid development of the construction sector across the BRIC nations will suitably propel leather chemicals industry growth.
Leather processing can actually prove to be harmful for the environment, as material tanning involves the usage of highly polluting chemicals, such as chromium, sulphides, and pathogens, which may restraint leather chemicals market. In addition, excessive costs involved in the actual process in various stages such as crusting, tanning, and coating may also pose as a threat to this market. Leading firms are however, trying to eliminate these constraints by means of reducing the high operational costs and using eco-friendly alternatives for leather processing, which will suitably drive the industry trends.
Author Name :Saipriya Iyer
Healthcare Artificial Intelligence Industry to amass huge share via drug delivery applications over 2017-2024, China to majorly drive the regional landscape
In a major development that can positively impact Healthcare Artificial Intelligence Market growth, Babylon Health, a UK based digital health firm has raised nearly USD 60 million in April 2017 to diagnose patient illness by creating an AI chatbot on their smartphones. High investments made by various industry players to build more robust machine learning algorithms and big data analytics applications to deliver more effective healthcare services will completely change the medical diagnosing & treatment phase of the industry. This will help in grooming the healthcare artificial intelligence business reach greater heights. Global Market Insights, Inc., reports that healthcare artificial intelligence industry value, worth USD 750 million in 2016, is predicted to hit USD 10 billion by 2024.
U.S. Healthcare Artificial Intelligence Market Size, By Application, 2013-2024 (USD Million)
New breakthroughs in the field of clinical research, genomics, robotic personal assistants, and precision medicine are expected to propel Precision Medicine Market, which in turn is creating a wide set of opportunities for healthcare artificial intelligence industry globally. Evolution of new disease monitoring and treatment methods will eventually produce huge business growth prospects for the market.
Healthcare artificial intelligence finds wide application in drug discovery, hospital workflow, medical imaging & diagnosis, and therapy planning. Drug discovery applications, which contributed more than 35% of healthcare artificial intelligence industry share in 2016, are forecast to hit USD 4 billion by 2024. The growth can be credited to the ability of machine learning and artificial intelligence technologies to favorably influence the drug design as well as drug development & delivery success rates.
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Medical imaging & diagnosis sector is expected to hit the revenue of over USD 2.5 billion by 2024, owing to its ability to identify cancer at initial phase by detecting the rapid proliferation of tumor cells. Enhanced use of artificial intelligence in this sector will further accelerate healthcare artificial intelligence market revenue.
Considering the topographical trends, U.S. healthcare artificial intelligence industry, which was estimated at USD 320 million in 2016, is projected to grow at a rate of 38% over the period of 2017-2024. Supportive government regulations encouraging the use of big data analytics coupled with new inventions in the healthcare sector will propel the regional development.
Japan healthcare artificial intelligence market, which accounted over 35% of Asia Pacific healthcare artificial intelligence industry size in 2016, is projected to witness a tremendous growth over the coming seven years. Large-scale presence of healthcare firms and universities inventing new healthcare AI technologies will contribute substantially towards the regional revenue.
Brazil industry, which contributed over 48% of LATAM healthcare artificial intelligence market revenue in 2016, is forecast to experience a huge surge over the coming timeframe. Mounting awareness about the benefits accrued due to the application of artificial intelligence technology in the healthcare sector will spur the industry expansion across the region.
Europe healthcare artificial intelligence industry, worth USD 270 million in 2016, is projected to record a CAGR of 39% over 2017-2024 subject to rising utilization of AI technology by various firms to improve the healthcare treatment along with its cost-reduction.
The UK healthcare artificial intelligence market is forecast to cross the revenue margin of USD 800 million by 2024 and will further boost the Europe industry size over the years to come. Entrepreneur-friendly environment across the country coupled with escalated use of artificial intelligence technology in genomics supported & guided by high R&D finding will drive the regional share.
Healthcare artificial intelligence industry in China is projected to record a CAGR of 45% from the period of 2017 to 2024, steered by the launching of new technologies such as artificial intelligence and big data analytics across the healthcare sector
Healthcare artificial intelligence market is highly fragmented due to the large presence of key industry players and new entrants. Welltok Incorporation, Pathway Genomics, Cyrcadia Health Incorporation, Atomwise, Enlitic, Lifegraph Limited, Insilico Medicine Incorporation, IBM Watson Health, iCarbonX, Google Incorporation, Zebra Medical Vision, Microsoft Corporation, Sophia Genetics, Modernizing Medicine Incorporation, Butterfly Network Incorporation, APIXIO, and AiCure are the major participants of healthcare artificial intelligence industry.
Author Name :Dhananjay Punekar
Automotive glass market revenue to nearly double by 2024, high demand for tempered glass products to influence industry growth over 2016-2024
Automotive glass market will collect a remarkable revenue over the years ahead, subject to exponential growth of global automotive industry and the deployment of high grade technologies in automobiles to enhance the driving experience. The emergence of innovative technologies such as the smart glass across the automotive sector will favorably impel automotive glass industry. Of late, people have become more aware regarding eco-friendly autoparts production as well as the importance of safety while driving. Many of the firms are replacing metal parts with plastic to minimize the overall weight of the product, which will directly boost the vehicle efficiency. As per the report by Global Market Insights, Inc., “Automotive Glass Market was worth USD 15 billion in 2015 and will record an annual growth rate of more than 7% over the period of 2016 to 2024.”
Europe Automotive Glass Market Size, By Application, (Mn Sq.m), 2015 & 2024
Windscreen, backlite, and sidelite are the main application segments of automotive glass market. Windscreen applications will collect significant revenue with an annual growth rate of 6.7% over the period of 2016 to 2024. The enforcement of strict rules by regulatory organizations regarding driving safety will stimulate the product demand significantly.
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Global automotive glass industry share from sidelite applications will grow at a CAGR of more than 6.5% over 2016-2024. Sidelites, commonly referred as side windows, have witnessed an increased adoption owing to its visibility properties.
Light commercial vehicle segment is projected to witness a CAGR of more than 6.5% over the coming years of 2016 to 2024. Escalating use of light weight vehicles for the transportation of goods across the rural areas may boost the product demand substantially.
Original equipment manufacturer (OEM) dominated the end use segment with a contribution of more than 80% to the overall revenue in 2015 and will record considerable growth rate over the coming seven years. The growing awareness about ensuring safety while driving will augment the industry growth.
Based on the products, automotive glass market is primarily divided into tempered and laminated. Tempered automotive glass market will register an annual growth rate of more than 6% in terms of volume over the years ahead. This product is extensively used in commercial vehicles for backlite and sidelite applications.
Laminated product segment, having had a revenue of USD 4.5 billion, is slated to earn twice of its valuation by 2024 with a CAGR of more than 6.5% over the period of 2016 to 2024. The attributing factor for the market growth is the increasing use of the product for windshields coupled with the adoption of safety norms.
Considering the geographical landscape, Asia Pacific automotive glass market contributed majorly toward the regional revenue share, owing to supportive foreign direct investment policies. Japan, China, and India will be the prominent revenue contributors for APAC automotive glass market.
U.S. automotive glass market is slated to record an annual growth rate of more than 4.5% over the period of 2016 to 2024. Surging use of glass parts in the manufacturing of light-weight vehicles will contribute toward the industry growth. In addition to this, strict rules and regulations regarding passenger safety collision resistance will also influence the regional growth.
Europe market was primarily led by Germany which will exhibit a considerable growth over the years ahead. Rising innovation to enhance passenger safety and reliability will significantly influence Germany automotive glass market – after all, Germany is a well-known global hub of innovative automotive production.
The key participants in automotive glass market are AGC Glass Europe, Guardian industries, Central Glass America, Shenzhen Benson automobile glass co.,ltd., Nippon, PPG Industries, Inc., Xinyi Glass, Saint Gobain Sekurit, Duratuf Glass Industries Pvt. Ltd., Corning, Inc., Magna International, Inc., Fuyao Glass Industry, Pittsburgh Glass Works LLC., Fuso Glass India Pvt. Ltd., and Webasto.
Author Name :Sunil Hebbalkar
U.S. food phosphate market to accrue lucrative revenue via meat and seafood processing applications over 2016-2024
Shifting consumer trends toward healthy diet consumption coupled with rise in the demand for protein enriched food will fuel Food Phosphate Market development. Rise in the food phosphate production as a result of escalating demand for food across countries such as India, Germany, China, France, and the U.S. will create a huge growth potential for the business. This growth can be attributed to the rising product usage as an emulsifier, sequestering & leavening agent, and acidity regulator across various sectors such as food & beverages, bakery items, dairy items, and meat & seafood processing. Global Market Insights, Inc., reports that food phosphate industry is forecast to hit a revenue of USD 2.4 billion by 2024, registering a CAGR of 6% during the period of 2016-2024.
U.S. poultry meat sector was more than 15 million tons in 2015, and is expected to reach nearly 20 million tons by 2024, driven by the growing consumer awareness regarding protein rich diet and the rising popularity of canned food, which in turn will contribute to the growth of food phosphate industry over the span of few years.
Considering the regional landscape, Asia Pacific food phosphate industry is slated to record substantial gains of 4.5% during the period from 2016 to 2024. Mounting preference for bakery and dairy items as a result of high standards of living along with elevated demand for healthy food will propel the regional growth. China, Japan, and India are projected to be the key regional revenue contributors.
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India food phosphate market revenue in the dairy sector is predicted to grow at a rate of 4% over the coming timeframe with cheese processing applications contributing substantially towards the industry share. Sodium based food phosphate industry in China is anticipated to hit USD 100 million by 2024, driven by its wide usage in processed as well as baked foods.
LATAM food phosphate industry is slated to record a CAGR of 3.5% over the coming seven years subject to the thriving meat processing sector along with an increase in the number of livestock farming activities. Brazil and Mexico are the key regional revenue pockets.
Europe food phosphate market is projected to experience moderate growth over the years to come, owing to rising customer demand for nutritious food coupled with the huge presence of retail channels. Germany, Italy, France, and the UK are likely to drive the regional share.
Germany food phosphate industry across the meat processing sector is foreseen to accrue a revenue of more than USD 55 million by 2024. Flourishing dairy and seafood processing sectors across the country are likely to drive the regional growth.
Food phosphate industry size from the dairy sector will grow at a rate of 3.5% over the coming timeframe, driven by its use as an emulsifier in various dairy items such as puddings, cheese cakes, ice creams, and milk based drinks. Bakery applications are expected to hit the revenue margin of USD 450 million by 2024, driven by rise in the per capita income of the consumers along with large-scale consumption of bakery items such as pizza, doughnuts, pastries, and cakes.
Food phosphate market share in meat & seafood processing sector is predicted to record a CAGR of 4% over 2016-2024, owing to burgeoning protein demand from the consumers coupled with an increase in the preference for the canned food as a result of hectic lifestyles. It is also expected to accrue revenue of more than USD 1 billion by 2024, owing to the usage of the product for improving the texture & flavor of stored seafood.
Sodium phosphate, ammonium phosphate, potassium phosphate, phosphoric acid, and calcium phosphate are some of the key food phosphate products. Potassium based food phosphate industry is predicted to grow at an annual rate of 3.5% over the coming seven years. Extensive product usage in canned fish, soft drinks, and processed meat will boost the revenue.
Calcium based food phosphate industry value is projected to reach USD 400 million by 2024, due to the high product usage in bakery and dairy items along with the rising preference for nutritious food. Phosphoric acid, which is widely utilized in the preparation of artificial fruit juices, is expected to make lucrative contributions towards food phosphate market revenue.
Sodium based food phosphate industry value will cross the revenue mark of USD 850 million by 2024, driven by high product application in commercial bakery items, meat, and canned soups along with rising demand for nutritive supplements.
Market participants will try to increase their consumer base by engaging in strategic collaborations, joint ventures, partnerships, and new product launches. Aditya Birla Group, Saminchem Incorporation, Haifa Chemicals Limited, Fosfa A.S., Nutriscience Innovations, Brewcraft, Sulux Phosphates Limited, FBC Industries Incorporation, Sichuan Zhituo Biochem Technology Industry Company Limited, The Potash Corporation, and ChemSol LLC are the key players of food phosphate industry.
Author Name :Dhananjay Punekar
Europe industrial emission control systems market to register significant gains over 2016-2024, Germany to the key revenue contributor
Rising efforts by global regulatory bodies to implement pollution control technologies will expedite Industrial Emission Control Systems Market size over the next few years. Of late, the world has witnessed a tremendous rise in pollution levels and carbon emissions, subject to which the governments of various countries have enforced numerous regulations that need to be followed by power plants, manufacturing firms, and other industries. These companies are now installing emission control technologies to reduce pollution and contribute to saving the environment, which will significantly propel industrial emission control systems industry.
The rapid surge of industrialization across regions such as APAC and MEA will lead to an increase in the demand for emission control systems, pertaining to the large presence of power plants and chemical factories. This requirement will help fuel industrial emission control systems market across these regions. These systems help control the emissions of harmful pollutants such as nitrogen oxide compounds, Sulphur oxide compounds, and volatile organic compounds, and find huge applications across the chemical & petrochemical, metal, cement, manufacturing, and power generation sectors.
U.S. Industrial Emission Control Systems Market Size, By Device 2013-2024 (USD Billion)
Undoubtedly, power plants are a major source of pollutant emissions – harmful gases, solid toxic particulates, acidic streams, and vapors emitted from these plants have harmed the global environment to no end. Subject to the restrictions mandated by the government regarding pollutant emissions, these plants are increasingly deploying emission control systems at their worksites. Industrial emission control systems industry size from power plant applications was worth more than USD 5 billion in 2015 and is anticipated to grow at a CAGR of 6% over 2016-2024.
In a bid to meet the growing demands for electricity, China has established numerous power plants across the country, subject to which the demand for emission control systems in the region is significantly high, especially from power generation companies. China industrial emission control systems market size from power plants may cross USD 1 billion by 2024, pertaining to the rapid industrialization and growing requirement for electricity.
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Electrostatic precipitators, one of most prominent devices of industrial emission control systems industry, are used to thoroughly remove solid pollutant particulates. They are widely deployed across the power generation, chemical, and steel sectors, owing to which Electrostatic Precipitator Market is anticipated to earn a significant revenue over the next few years, subject to their superior properties. Industrial emission control systems industry size from electrostatic precipitators will observe a CAGR of 6% over 2016-2024. These devices are heavily implemented in Germany, especially across the growing manufacturing sector of the country, to absorb pollutants and control carbon emissions. Subject to this factor, Germany industrial emission control systems market size from electrostatic precipitators was worth USD 242.88 million in 2015, and is projected to grow at a rate of 7% over 2016-2024.
Germany will be a key contributor toward Europe industrial emission control systems industry share, and will register a notable CAGR of 8% over 2016 to 2024. France industrial emission control systems market will also contribute significantly toward the regional growth, and will register a CAGR of more than 9% over 2016-2024, owing to the vast number of power projects and high economic growth of the region. Spain and Italy are touted to be other regional contributors.
Having held a share of more than 15% of the overall industrial emission control systems industry, absorbers are used to remove heavily toxic gases. These devices are heavily deployed across chemical factories, which will impel industrial emission control systems market share from chemical & petrochemical applications. Companies have been striving to integrate these devices with high grade technology to reduce its cost and improve its efficiency. Subject to this factor, industrial emission control systems industry from absorbers will surpass a revenue of more than USD 4 billion by 2024, growing at an annual growth rate of more than 8% over 2016-2024.
Absorbers are deployed across the cement sector as well, subject to their superior toxic pollutant removal properties. Industrial emission control systems market size from cement applications was worth more than USD 1.5 billion in 2015 and is projected to observe a heavy growth, owing to the rapidly developing construction sector across the globe. Additionally, these systems are particularly in demand across China, subject to the development of the construction sector in the region and favorable norms regarding emissions, which will impel China industrial emission control systems industry from cement applications.
Scrubbers help wash away the toxic Sulphur oxide compounds from wet & dry flue gas desulfurization plants. Having held more than 15% of the overall industrial emission control systems market share in 2015, scrubbers will be in high demand across the MEA region. Bearing testimony to this fact are the following statistics – Saudi Arabia industrial emission control systems industry share from scrubbers was USD 44.01 million in 2015, and it is expected to grow at a CAGR of 5.3% over 2016-2024. Similarly, Belarus industrial emission control systems market size from scrubbers is expected to cross USD 40 million by 2024, with a y-o-y growth rate of 11% over 2016-2024. The rapid expansion of the industrial sector coupled with the increasing number of power plants will expedite the growth in these regions.
Catalytic systems, another critical product of industrial emission control systems industry find applications across the oil & gas sectors and are predicted to cross revenue of more than USD 6 billion by 2024. High demand from oil refineries and petrochemical factories will also foster the growth of Stationary Catalytic Systems Market, anticipated to grow at a CAGR of 6% over 2016-2024.
Industrial emission control systems industry size from metal applications was worth more than USD 1 billion in 2015 and will observe gains of more than 8% over 2016-2024, subject to the product’s widespread usage for absorbing metal fumes and toxic gases.
Brazil, one of the key emerging economies, has been observing surge in its oil & gas exploration and mining activities. Subject to this fact, Brazil industrial emission control systems market will grow remarkably at a CAGR of 8% over the years ahead. Chile, another prominent region of South America industrial emission control systems industry, will also cross a valuation of USD 200 million by 2024.
The United States will witness a huge demand for all the products of industrial emission control systems market, owing to the fact that the region has observed a consistent growth across the power, cement, metal, and chemicals sectors. In addition, the presence of a vast number of market players and their efforts to innovate new technologies to reduce emissions will boost U.S. industrial emission control systems industry share, which is anticipated to cross a valuation of more than USD 2 billion by 2024.
Subject to the rising construction sector in the region, the cement factories here heavily demand the deployment of absorbers. Pertaining to this factor, U.S. industrial emission control systems market share from absorbers was more than USD 250 million in 2015, and is expected to grow at a rate of 7% over 2016-2024.
Major companies have been engaging in growth strategies to research and develop highly advanced, technologically innovative, and extremely efficient emission control systems. Key participants operating in global industrial emission control systems industry include Mitsubishi Hitachi Power Systems, Fujian Longking Co., Ducon Technologies, Babcock & Wilcox Enterprises, Thermax Ltd., BASF, Auburn Systems, General Electric Company, Johnson Matthey, Hamon Corporation, CECO Environmental Corp., Amec Foster Wheeler, APC Technologies, and Air Clean LLC.
Author Name :Saipriya Iyer