Global Pigments market share to hit USD 18.98 billion by 2024: Paints & Coatings sector to augment the industry growth

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Pigments market size is expected to surpass USD 18 billion by 2024, driven by its growing applications in construction materials, paints & coatings, plastics, toiletries, and printing inks. Global paints & coatings industry worth USD 110 billion in 2015, is expected to witness a noticeable growth over the coming years, owing to enhanced demand for high quality paints and breakthroughs in coatings technology.  This will in turn stimulate the pigments market share in the paint & coatings sector. Moreover, heat stability, corrosion resistance, tinting strength, opacity, dispersion, lightfastness, toxicity, staining, and resistance to acids & alkalis etc. are some of the favorable pigment properties, which are predicted to boost the pigments industry trends over the coming timeframe.

Paints & coatings sector led the pigments application landscape by contributing towards 35% of the overall pigments market share in 2015 and is forecast to witness a noticeable growth over the period of 2016-2024. The growth can be credited to the rise in purchasing power along with growing preference for pigments providing improved metallic luster to paints. Furthermore, they help in preventing surface corrosion and strengthen the paint film to get the best color effects.

Europe pigments market share, by product, 2013-2024 (KT)
Europe pigments market share, by product, 2013-2024 (KT)

Pigments market size in construction materials sector is expected to grow at a CAGR of 3% over 2016-2024, primarily driven by its increasing applications in color roofing, metal panels, colored asphalt production, wood construction, and cooler tiles. Pigments applications in Plastic industry was worth USD 1.5 billion in 2015 and is anticipated to witness a substantial growth over the coming eight years.

Major pigments products include specialty, inorganic, and organic products. Inorganic pigments market price worth USD 5 billion in 2015, is expected to grow at a rate of 3.5% over the period of 2016-2024. The growth can be attributed to its favorable properties such as consistency, tinting strength, and pure hue. Organic pigments market accounted for 40% of the overall revenue in 2015 and is forecast to witness significant gains over the next few years. The growth can be attributed to its growing application across various sectors due to rising ecological and health concerns. Specialty pigments market size is anticipated to register a growth rate of 5% over the coming eight years, owing to the rising consumer preference for phosphorescent and high quality paints.

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North America pigments market size valued at USD 3.2 billion in 2015, is projected to witness a considerable surge over the coming years, owing to the high consumer preference for specialty products. U.S. is projected to make noteworthy contributions towards the regional share.

Asia Pacific pigments industry is expected to record a CAGR of 5% over the timeframe. The growth can be attributed to rapid infrastructure expansion, rise in vehicle production & sales, and increase in construction activities. India and China are anticipated to be major regional revenue pockets.

Market players will adopt major growth strategies such as product portfolio expansion, joint ventures, and mergers & acquisitions over the coming years. Key industry players include Huntsman Corporation, Clariant, Lanxess, BASF, CRISTAL, Ferro Corporation, Pidilite Industries, TRONOX, DIC Corporation, and Tokan Material Technology Co., Ltd.

Author NameDhananjay Punekar

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Global household vacuum cleaners market size to hit USD 17 billion by 2024

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Household Vacuum Cleaners industry size is expected to grow at a rate of 4.6% over the period of 2016-2024. Changing urban lifestyles and demand for precise & real time technologies will mainly drive the household vacuum cleaners market size over the coming timeframe. Tight schedule and active lifestyle makes time saving mandatory. Dual-earning families and middle income groups will face time-constraints to manage household chores. Therefore, accomplishing everyday domiciliary tasks besides the hectic work schedule will propel household vacuum cleaners industry growth.Rising living standards and enhanced consumer spending capacity on luxury appliances will further drive household vacuum cleaners industry revenue. Increasing awareness pertaining to time-efficiency, convenience and benefits derived due to vacuum cleaners use is expected to promote household vacuum cleaners market trends over the coming years. Moreover, swift advancements in technology supporting innovations will make it more energy efficient, economical, and user-friendly.

APAC Household Vacuum Cleaners Market size, by product, 2013-2024 (USD Million)

APAC Household Vacuum Cleaners Market size, by product, 2013-2024 (USD Million)

Major household vacuum cleaners comprise Upright, Canister, Central, Drum, Wet/Dry, and Robotic cleaners. Robotic household vacuum cleaners market share will reach USD 3.5 billion by 2024, owing to its innovative features such as acoustic sensors, automated mapping capabilities, self-charging, and sweeping brushes. High demand for mobile support applications is expected to drive its growth over the coming years.

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Upright vacuum cleaners led the product landscape, owing to its small size and high performance ratio. It is anticipated to contribute over 25% of the overall household vacuum cleaners industry share by 2024 and will register a CAGR of 3.2% over 2016-2024. The growth can be attributed to major features such as small size with high suction capabilities and large cleaning surface area which adds to its high performance.

Canister vacuum cleaners market is expected to register a CAGR of 4% over the timeframe of 2016-2025, owing to its user-friendly features.

North America household vacuum cleaners market is expected to witness a high growth over the next few years on account of rising time constraints for home-based cleaning along with heath & hygiene awareness among consumers. U.S. is expected to contribute significantly towards the regional share.

Asia Pacific household vacuum cleaners industry share worth USD 3.7 billion in 2015, is expected to grow at a CAGR of 5.2% over the coming eight years, owing to its high demand.  India, Japan, and China are predicted to boost the regional revenue.

Market players will try to grow their regional presence and ROI through mergers & acquisitions and product differentiation. They will try to compete in terms of price, product branding, technology, performance, energy consumption and quality. The key industry participants include TTI Floor Care, Oreck, Dyson, Stanley Black & Decker, Panasonic, Samsung, Royal Philips Electronics, Eureka Forbes, Haier Group, iRobot, and LG.


Author Name
Ojaswita Kutepatil

Global animal feed additives industry size to surpass USD 22 billion by 2022

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Animal feed additives market size worth USD 16.11 billion in 2014, is expected to grow at a CAGR of 3.7 % over the period of 2015-2022. Rise in meat consumption of livestock such as poultry, cattle, and swine as a protein source is expected to boost the global industry trends over the coming years. Animal feed additives such as minerals, vitamins, fatty acids, and amino acids enhances metabolism and weight gains of the livestock. Livestock production estimated at 305 million tons in 2014, is expected to increase significantly over the coming years and will drive animal feed additives market growth. Furthermore, increase in meat consumption due to growing purchasing capacity and population base is expected to drive the global animal feed additives industry size over the next few years.Asia Pacific meat production sector contributed over 41% of the overall demand in 2014, while Europe and North America meat production industry contributed over 18% and 14% of the overall demand in 2014.

Europe animal feed additives market size, by product, 2012-2022 (USD Million)

Europe animal feed additives market size, by product, 2012-2022 (USD Million)
Based on the livestock, animal feed additives market is segmented into cattle, poultry, swine, and aquaculture. Animal feed additives market share in poultry worth USD 6 billion in 2014, is expected to witness high surge over the coming timeframe. The growth can be attributed towards rising health awareness along with strict monitoring of meat quality by the government due to increasing occurrence of diseases such as bird flu, etc.  Animal feed additives industry size in aquaculture is expected to record a CAGR of 4.2% over the coming six years.

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Amino acids market price valued at USD 5.3 billion in 2014, is expected to grow significantly over the coming years. The growth can be credited to the use of threonine, lysine, methionine, and tryptophan in feed additives of poultry and swine.

Asia Pacific animal feed additives market revenue worth USD 5.1 billion in 2014, is projected to witness a substantial growth over the coming six years. The growth can be attributed to rapid urbanization, strong economic development and increase in purchasing capacity of the consumers. Philippines, India, China, Thailand, Malaysia, and Indonesia are expected to be the major regional revenue contributors.

Latin America animal feed additives industry size, which contributed over 8% of the overall revenue in 2014, is anticipated to witness a substantial surge over the coming years. The growth can be credited to high standards of living, rising disposable income of the consumers, and high demand for meat. Argentina and Brazil are anticipated to contribute significantly towards the regional share.

Market players will try to increase their product portfolio and grow their regional presence through mergers & acquisitions. Key industry participants include BASF, Danisco Company, Nutreco Company, Evonik Industries, Addcon Group, Adisseo, Cargill Corporation, Biomin Company, and Kemin Industries.

Author NameDhananjay Punekar

Waterproof breathable textiles (WBT) market revenue to hit USD 2.18 billion by 2022

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Waterproof breathable textiles (WBT) market size is anticipated to grow at a rate of 5.4% over 2015-2022, owing to its rising applications in sportswear coupled with growing consumer awareness about environment-friendly products. Rising demand for recycled polyethylene terephthalate (PET) bottles in fabric production is anticipated to propel global WBT industry trends over the coming years. Growing popularity of waterproof breathable textiles across defense and medical sectors is projected to create lucrative avenues for the industry growth in the near future. Advancement in fiber technologies, which help in production of stain-resistant, antimicrobial, water-resistant, and moisture-resistant textiles is expected to boost waterproof breathable textiles industry size over the next few years.Europe waterproof breathable textiles market price worth USD 450 million in 2014, is projected to grow at a CAGR of 4.7% over the timeframe. The growth can be credited to rising awareness about health & fitness among the population. In addition to this, increase in number of sports activities such as hiking, is expected to contribute noticeably towards the regional growth.

Europe waterproof breathable textiles market size by textile, 2012-2022 (USD Million)

Europe waterproof breathable textiles market size by textile, 2012-2022 (USD Million)

North America WBT industry size is anticipated to reach USD 600 million by 2022, owing to high demand for waterproof and breathable apparels. Furthermore, changing consumer lifestyles accompanied by growing fashion trends is further predicted to boost the growth. Asia Pacific waterproof breathable textiles industry revenue is projected to grow at a CAGR of 6.5% over the coming six years.

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Active sportswear segment is expected to contribute substantially towards global waterproof breathable textiles market share over the next few years. WBT industry size in the active sportswear segment worth USD 1200 million in 2014, is expected to register a CAGR of 5.3% over the timeframe. The high growth can be attributed to its breathable property, ensuring ventilation to skin during perspiration. It also finds applications in other sectors such as water sports, mountaineering, rock climbing, snow sports, and outdoor lifestyles. WBT market revenue in other sectors is expected to reach USD 300 million by 2022.

Major waterproof breathable textile products include garments, footwear, and gloves products. Garments market worth USD 875 million in 2014, is forecast to record a CAGR of 5.1% over 2015-2022. The growth can be attributed to its increasing application in mountain sports and trekking activities. Footwear market size is expected to grow at a rate of 6% over the coming six years. The growth can be attributed to its lightweight, insulating, and high-strength properties.

Based on the types, waterproof breathable textiles (WBT) market is segmented into membrane, coated, and densely woven waterproof breathable textiles. Membrane waterproof breathable textiles (WBT) industry, which contributed nearly 71% of the overall demand, is expected to record highest gains of 5.5% over 2015-2022. The growth can be attributed to its high water resisting property along with its ability to help in water evaporation. Densely woven waterproof breathable textiles (WBT) market is expected to record a CAGR of 5% over the coming six years, driven by its rampant use in medical, defense, and work wear sectors.

Market players will try to increase their product portfolio by adopting key business strategies such as mergers & acquisitions and product differentiation. Key industry players include W L Gore & Associates, SympaTex, and Polartec.

Author NameDhananjay Punekar

Rapidly expanding automotive industry to drive the thermoplastic polyolefins market growth: Global revenue to hit USD 4 billion by 2023

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Rise in vehicle sales and construction activities across the globe is predicted to drive thermoplastic polyolefins market size over the coming years. According to Global Market Insights, Inc., “Thermoplastic Polyolefins Industry size is anticipated to reach USD 4 billion by 2023.” Moreover, it finds wide applications in medical industry owing to favorable features such as excellent thermal stability, design versatility, crystal clarity, mutagenic potential, and high resistance. Strict government norms for reducing greenhouse emissions to minimize environmental pollution is predicted to boost the demand for thermoplastic polyolefins over the next few years.Growing preference for thermoplastic polyolefins over polyvinyl chloride owing to environmental risks caused by PVC usage, will further boost the industry growth over the coming years. Strict CAFÉ (Corporate Average Fuel Economy) regulations have emphasized vehicle manufacturers to innovate ways for reducing vehicle weight to ensure minimal pollutant emissions in the atmosphere. This is expected to stimulate TPO demand in automobile applications over the next few years.

U.S. Thermoplastic Polyolefins Market size, by application, 2012-2023 (Kilo Tons)

U.S. Thermoplastic Polyolefins Market size, by application, 2012-2023 (Kilo Tons)

TPO market share in automotive industry accounted for over USD 1.6 billion in 2015, and is estimated to witness a significant growth over the coming years. The growth can be attributed to processing ease, design flexibility, ability to be recycled, and lightweight properties, which in turn helps in reducing fuel emissions from vehicles.

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Construction sector is another lucrative industry favoring TPO demand significantly. TPO market size in construction industry is predicted to grow at a rate of 6.8% over the period of 2016-2023. The growth can be credited to its extensive application in manufacturing roof tops for both commercial and residential infrastructure owing to its solar radiation inhibiting characteristic.

North America market price worth USD 860 million in 2015, is anticipated to witness substantial gains over the coming years. Its growing applications in construction, automotive, medical, and packaging sectors is projected to drive the regional demand over the coming years. Moreover, strict automotive fuel efficiency norms are predicted to boost the product popularity in the region. U.S. is expected to make significant contribution towards the overall regional revenue.

Europe market share is anticipated to exceed USD 1 billion by 2023, owing to the increased application of these products in medical and packaging sectors as compared to other traditional polymers and elastomers. UK, Germany, France, and Italy are expected to be the major revenue pockets for the region over the next few years.

Asia Pacific TPO market is expected to exceed USD 1.3 billion by 2023, owing to heavy construction spending along with booming automotive sector. Japan, India, and China are expected to contribute significantly towards the regional share in the near future.

Market players will try to enhance their product portfolio as well as revenue through mergers & acquisitions, joint ventures, and strategic alliances. Key industry participants include DuPont, INOES, A. Schulman, Mitsui, Arkema S.A, Noble polymers, The DOW Chemical Company, ExxonMobil, Polisystem UK Limited, SABIC, Sumitomo Chemical, S&E Specialty polymers, GAF, LyondellBasell Industries, and Spartech.

Author NameDhananjay Punekar

Expanding transport industry to offer high growth prospects for coated fabrics market

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Extensive use of coated fabrics in manufacturing air bags as well as seat covers in automotive sector along with strict government norms addressing the safety concerns of factory workers is expected to drive global coated fabrics market growth. According to Global Market Insights, Inc., “Coated fabrics market share worth USD 18 billion in 2015, is predicted to reach USD 27.4 billion by 2024, registering a CAGR of 4% over 2016-2024.” Growing demand for coated fabrics from OEMs to manufacture motor vehicle upholstery, convertible tops, spare tire covers, headliners, and heavy-truck covers is predicted to boost the industry growth over the next few years.

U.S. Coated Fabrics Market size, by application, 2013-2024 (USD Million)

U.S. Coated Fabrics Market size, by application, 2013-2024 (USD Million)

Growing vehicle sales in Thailand, Indonesia, China, and India are expected to enhance the popularity of coated fabrics in automotive sector. Consistent efforts to improve the aesthetic appearance of seat cover designs are expected to boost the product demand over coming years. Global industrial protective clothing expenditure worth USD 5 billion in 2015, is anticipated to grow at a rate of 14% over the period of 2016-2024, owing to favorable government policies ensuring employee safety in industries. Food processing, medical, agriculture, defense, law enforcement, and chemical processing industries provide protective clothing to their workers to protect them from heat, biological pollutants, chemicals, and ecological hazards.

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Coated fabrics find myriad applications in protective clothing, furniture, and transport sectors. Coated fabrics market size in transport industry worth USD 6 billion in 2015, is expected to witness a high growth over the period of 2016-2024 owing to its increasing use in marines, automobiles, and aviation sectors. Its application in protective clothing sector is expected to grow at a rate of 4% over 2016-2024. The growth can be attributed to standardized factory regulations ensuring worker safety by mandating the use of protective clothing for workers to protect them from accidents occurring during the working hours. Coated fabrics application in furniture industry worth USD 1.9 billion in 2015, is projected to witness a high surge over the period of 2016-2024.

Major coated fabric products comprise fabric backed wall coverings, polymer coated fabrics, and rubber coated fabrics. Polymer coated fabrics market price worth USD 17 billion in 2015, is expected to witness significant growth over the coming eight years owing to high demand for air bags and protective clothing in manufacturing industries. Rubber coated fabrics industry size is forecast to exceed USD 2 billion by 2024, driven by its favorable properties such as elasticity, durability, and resistance to degradation. High product demand can also be attributed to its growing application in food conveyor belts, gymnasium mats, storage bags, aprons, lifeboats, truck covers, and protective garments. Fabric wall backed covering market is projected to witness a noticeable growth over the coming years due to heavy spending on public infrastructure and growing consumer inclination towards home interiors.

Europe coated fabrics industry size worth USD 3 billion in 2015, is expected to witness a considerable growth over the period of 2016-2024. Strict government compliances related to worker safety coupled with standardized norms associated with passenger safety are expected to drive the regional growth. Germany, UK, and France are the major regional revenue contributors.

Asia Pacific market is predicted to record a CAGR of 4% over 2016-2024, owing to its growing demand in transport industry and protective clothing applications. Furthermore, the growth can also be credited to the presence of many manufacturing firms in the region. Malaysia, China, India, and South Korea are predicted to contribute substantially towards the regional growth over the coming years.

North America market is forecast to witness a noticeable growth over the coming eight years, due to growing product demand in the automotive industry along with large-scale use of protective clothing in oil & chemical industries. U.S. is expected to be a major contributor towards the regional share.

Latin America coated fabrics industry is projected to witness highest gains over 2016-2024 owing to high growth of motor vehicle industry. Brazil and Argentina are predicted to make substantial revenue contributions in the near future.

Middle East & Africa (MEA) market is expected to grow considerably over the period of 2016-2024 due to the presence of large construction projects along with strict rules regarding worker   safety in factories. UAE, Saudi Arabia, and Kuwait are expected to drive the regional growth.

Market players will try to increase their revenue through product & technology innovation and mergers & acquisitions. Key industry participants include Takata Corporation, Omnova Solutions Incorporation, Trelleborg AB, Saint-Gobain, and Canadian General Tower Limited.

Author NameDhananjay Punekar

Asia Pacific to emerge as a lucrative ground for marine propulsion engine market over 2016-2024

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Growing demand for operationally consistent and fuel efficient ships is expected to increase global marine propulsion engine market size over the coming years. Increasing use of renewable sources of energy such as wind energy, solar energy etc., for enhancing efficiency and reducing carbon emissions is projected to promote industry growth in near future. According to Global Market Insights, Inc., “Marine Propulsion Engine market size worth USD 9 billion in 2015, is anticipated to reach USD 13.3 billion by 2024, registering a CAGR of 4.3% over 2016-2024.” High emphasis on improving diesel engine capacity of the ships with large cargo carrying capability is predicted to boost the industry trends over the next few years. Today, shipping industry is largely focusing on developing new type of electric motors which will improve fuel efficiency and reduce environmental pollution.

Europe Marine Propulsion Engine Market size, by product, 2013-2024 (USD Million)

Europe Marine Propulsion Engine Market size, by product, 2013-2024 (USD Million)

Major marine propulsion engine products include natural gas, diesel, fuel cell, steam turbine, wind & solar, and gas turbine engines. Wind & solar marine propulsion engine market, which contributed over 3.5 % of the overall revenue in 2015, is expected to grow at a rate of 5.9% over 2016-2024. The growth can be credited to favorable government policies supporting the product applications in shipping industry due to its eco-friendly nature. Diesel propulsion engine market price worth USD 6 billion in 2015, is expected to register a CAGR of 4.2% over the coming eight years.

The growth can be attributed to rapid advancements in various technologies such as fuel injection technology, firing pressures, brake mean effective pressure, and turbo charging efficiency. Gas turbine propulsion market share worth USD 900 million in 2015, is anticipated to witness a high surge over 2016-2024 due to accelerated sprint operation mode provided by these turbines. They also find extensive applications in naval and defense sectors.  Fuel cell propulsion market is predicted to witness a substantial growth over the coming years as the product offers high growth potential for ship impulsion and can boost the performance of low-powered auxiliary impulsion machinery. Furthermore, high demand for electric transmission is predicted to increase the use of fuel cells over the next few years.

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Asia Pacific marine propulsion market size worth USD 4.5 billion in 2015, is predicted to record substantial gains of 4.8% over 2016-2024 owing to heavy investments by private players as well as the government.  South Korea and China are predicted to make significant contributions to the regional share over the coming years.

North America market is expected to witness a significant growth over the coming eight years owing to the large use of LNG as a marine or ship fuel. U.S. is predicted to be a key revenue contributor of the region.

Rapid innovation in the market is expected to lead to the development of more strong and energy efficient products. Leading market players are constantly spending on R& D activities to increase their product portfolio and enhance ship capacity & handling needs. They will try to enhance their reputation and brand visibility by developing eco-friendly, sustainable, cost-effective, efficient, and viable solutions. Key industry participants include Yamaha Motor Company, Rolls-Royce, Exxon Mobil Corporation, Wärtsilä, Cummins Corporation, Shell Global, Idemitsu Kosan Company, MAN Diesel & Turbo, Mitsubishi Motors, Volvo Penta Company, Hydraulic Marine Systems Inc, Caterpillar Inc., Sinopec Company, and Hydrosta BV Company.

Author NameDhananjay Punekar