Automotive

3D rendering market to garner profits from healthcare sector over 2019-2025

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Rising demand for real-time rendering has created an expansive growth scope for 3D rendering market which has witnessed increasing investment in recent times. As technology advances and companies become increasingly digitalized, the complexity of the business process will also increase. To address these challenges, organizations are looking for more efficient, faster, and real-time rendering solutions, adding impetus to 3D rendering market trends.

Canada 3D Rendering Market Revenue, By Component, 2018 & 2025
Canada 3D Rendering Market Revenue, By Component, 2018 & 2025

3D rendering is the process of fabricating an image based on 3D data stored within a computer. As the construction and real estate industries are witnessing exponential growth, real-time visualization and use of 3D rendering software have become integral part of the designing process, offering huge efficiencies to architects and engineers.

Architects, engineers and designers use architectural rendering software to transform their ideas into real-time design by exploring multiple options. In architecture, three dimensional images offer architects to review interiors and construction decisions before starting the project. This results in dramatically lowering costs, as expensive changes do not have to be made during the construction stage. Customers also get to view what the building may look like, including its interiors, before investing in it.

The healthcare sector is increasingly adopting advanced technologies, such as 3D medical animation and virtual reality, to create patient-specific surgical replication and personalized 3D printed medical devices. 3D medical modeling helps to understand the functions of body parts, the support of veins to muscles, internal organs and their functions, and its consistent adoption is also likely to fuel 3D rendering industry outlook.

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3D biomedical image rendering provides a clear view of the complex process of the human body. By gathering data via 3D imaging from patients and integrating it with virtual rendering technologies, doctors are enabled to pre-plan the best approach for surgical intervention. 3D modeling platforms will allow medical scientists to generate high-quality models from complex data sets and integrate scan data with CAD product designs for research purposes and teaching. Deploying 3D rendering services in healthcare will positively impact the 3D rendering market share. As per Global Market Insights, 3D rendering market size from healthcare will grow at a CAGR of 25% over 2019-2025.

The gaming industry is expanding rapidly due to high internet connectivity and growing popularity of virtual reality games to bring immersive experiences to users. A trend has been witnessed where major gaming companies are investing both time and capital to provide their customers with the most absorbing gaming experience. Mounting developments in interactive graphics software, especially in the gaming industry will augment 3D rendering market share.

3D rendering industry is also gaining significant momentum from the growth of automotive industry and rapid growth of emerging economies of Asia Pacific region. In Asia Pacific automotive industry, 3D product modeling has gained momentum, as it helps to minimize the time associated with end-product development and allows designers to visualize the product and test it thoroughly before it is built. The mounting growth of the automotive industry has resulted in the adoption of 3D visualization and rendering services to save both time and cost associated with the manufacturing of a vehicle parts.

Asia Pacific 3D rendering market is estimated to grow at a CAGR of over 24% over 2019-2025. Rapidly expanding urbanization and industrialization will play crucial roles in the growth of 3D rendering industry.

Product marketing has been revolutionized by the advent of 3D rendering services. Marketers of hardware products have always been placed in a challenging position when it came to communicating functions, value and differentiators of their product. The challenge has been almost insurmountable for startups due to their tight marketing budgets. However, 3D rendering of products has helped in greater engagement of consumers on limited marketing expenditure. 3D rendering industry is expected to record 23% CAGR over 2019-2025 from product design & modeling segment.

As 3D visualization is becoming a crucial part in various industries including architecture, IT, healthcare, gaming, etc., 3D rendering market is projected to witness exponential growth over the forecast timeline.

Author NameAakriti Kakkar

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Rising demand in modern flooring & waterproofing construction projects to drive APAC rotomoulding powder market

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Owing to a rising demand for numerous plastic products during construction activities, Asia Pacific rotomoulding powder market has gained immense traction in recent years. Products made from rotational moulding process, also known as rotomoulding, encompass a wide range of applications including storage tanks in residential, agricultural and commercial sectors as well as industrial equipment.

Asia Pacific Rotomoulding Powder Market, By Material, 2017 & 2024 (USD Million)

Asia Pacific Rotomoulding Powder Market, By Material, 2017 & 2024 (USD Million)

Foreseeing an increased demand for rotomoulded products, rotomoulding powder manufacturers are offering a variety of polyethylene and polypropylene materials to meet the demand for high-quality plastic parts and equipment.

With a slew of material suppliers and molders present across Asia Pacific, the region continues to drive the development of cutting-edge technology for producing various aesthetic and industrial products. Realization among manufacturers that novel eco-friendly materials can now be produced has created new opportunities for APAC rotomoulding power industry.

A prominent study reveals that currently, major industries in APAC are heavily dependent on Polyethylene (PE) composites and most of the rotomoulded products are made from this material, as it is an easily mouldable, versatile, and readily available polymer which can help deliver a variety of styles, colors, and surface finishes.

Growing infrastructure spending in emerging economies of Asia is expected to boost the consumption of rotomoulded products. Nowadays, many developers are broadly using components made from PE that are designed to minimize the environmental impact of plastics on the planet by deploying them in wall coverings, window & door frames, water proofing, and flooring, enhancing the scope of APAC rotomoulding powder market.

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Modern flooring has already become the latest trend among infrastructure players, with stylish homes and workplace décor representing an image of high living standards. For high quality flooring, protection from moisture is vital because floors inside the buildings are usually covered with tiles and carpet, where penetration of water vapor through concrete slabs could lead to the failure of adhesive in tiling, staining of flooring products and fungal growth. Due to its durability, chemical resistance and load rating properties, PE is widely being accepted among rotomoulding powder manufacturers to meet different flooring needs.

Plastic industry is one of the fastest growing segments in India and PE is the most largely used plastic material by Indian companies, which accounts 43% of total consumption and indicates considerable potential for APAC rotomoulding powder market in the future. PE floorings are also being offered for outdoor tile applications to improve the aesthetic appeal of commercial and residential surroundings. APAC rotomoulding powder market is poised to register remarkable proceeds from augmented construction of housing complexes and industrial or IT parks in developing nations.

Waterproofing of the concrete structures has always been a challenging task and for simplifying the job, they are focusing more on quality of concrete and subsequent proofing solutions that play a vital role in the durability of a structure. Waterproofing a structure may account for only 2% to 3% of the overall building expenditure, but defects arising out of waterproofing failures could lead to nearly 80% of a structure’s  defects. Growing need for PE waterproof membranes across emerging economies will reinforce APAC rotomoulding powder industry, with players coming up with a variety of options that not only improve aesthetics but are also environment-friendly in nature.

A large number of chemical companies have extensive operations throughout Asia-Pacific, endorsing the necessity of chemical-resistant plastic frames for industrial structures. Increasing demand for these materials will undoubtedly expand APAC rotomoulding powder market share in developing countries.

Plastic is considered as one of the best suited materials for window and door frames since it is extremely impact resistant as well as impervious to water and corrosion. It is largely deployed in the food industry for professional kitchens and other humid environments. APAC is home to several countries which experience harsh weather conditions and heavy rains are witnessed across the region, which escalate the demand for corrosion resistant door and window frames. Need for suitable plastic materials like uPVC for these products will fuel APAC rotomoulding powder market growth.

APAC rotomoulding powder industry has recently witnessed a rapid adoption in low and medium-income nations in the continent, generating considerable revenues from a host of vital applications. In fact, reports estimate that Asia Pacific rotomoulding powder market will exceed annual valuation of USD 7 billion by 2024.

Author NameDeeksha Pant

Global smart factory market to register double-digit CAGR over 2019-2025

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Rapid industrialization and technology developments transforming the global manufacturing sector have enabled smart factory market to emerge as a highly lucrative investment avenue over the forthcoming years. Several advancements in the field of automation, communications and computing power have turned intelligent manufacturing facilities into a feasible reality. Today, several manufacturers are looking to bring more efficiencies in production process while gaining the ability to supply a wider range of products to consumers, driving the expansion of smart factory industry.

U.S. smart factory market, by application, 2018 & 2025 (USD Million)
U.S. smart factory market, by application, 2018 & 2025 (USD Million)

Manufacturers require their production lines and operational processes to be integrated as well as flexible to adapt and enable quick configuration changes to lessen lead times. This helps them to retain a competitive edge in a constantly evolving segment. Smart factories have the ability to address these needs without compromising on quality and safety, positioning the industry in a favorable spot to experience business growth. Not only is building smarter facilities by investing in Internet of Things (IoT) is a massive undertaking, it is also a key component in promoting efficient scalability in the era of Industry 4.0.

Factories that leverage smart manufacturing technology offer a number of benefits to manufacturers including increased productivity, enhanced efficiency and long-term cost savings. Growing awareness of modern manufacturing technologies owing to these advantages will reinforce global smart factory market share. Although high initial investment in smart factories are keeping small to medium sized enterprises at bay, expected rise in affordability of the technologies in the next few years would open up the landscape for these businesses, fueling the adoption of solutions offered by smart factory industry players.

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The automotive industry is expected to emerge as a prominent growth avenue for the smart factory market over the forecast timeframe. In 2016, multinational automobile company Audi unveiled its Smart Factory 2035 vision in which it envisioned a facility without any assembly lines, instead deploying intelligent, flexible and modern production stations.

Last year, the company had already implemented the proposed vision to manufacture electric motors, wherein vehicle assembly takes place at a production station with automobile components being transported between stations by driverless systems that are controlled by smart IT control systems.

Through this production method, Audi estimates that the factory can produce approximately 400 electric drives with just 100 employees. Audi’s initiative offers a proof of the benefits in establishing a smart factory. Several key industry players are expected to follow suit and make investments in their own visions regarding advanced manufacturing plants, significantly boosting smart factory market outlook.

The global food & beverage segment will certainly emerge as a major revenue contributor for smart factory industry due to consistent demand for packaged and frozen food products. A large global population base, that is estimated to hit 9 billion by 2050, tightening regulatory demands around food safety & quality and environmental concerns, as the food & beverage sector consumes 5% of the world’s energy, are putting immense pressure on profit margins of producers.

Food and beverage product manufacturers are increasingly looking towards new ways to build flexibility into the inventory management and production process. Adoption of data integration, automation, analytics, energy sourcing and simulation could help companies in transforming their existing factories into intelligent manufacturing facilities to better handle these challenges without severely impacting company margins.

In terms of the regional spectrum, Europe is expected to retain its position as a lucrative market player over the projected period. In fact, Europe accounted for over $25 billion of the global smart factory market share in 2018. The region is home to a number of global automotive firms and according to the European Automobile Manufacturers Association, Europe automobile sector brings in over €90.3 billion in the form of trade surplus. Moreover, the industry is the biggest private investor for R&D in Europe, investing approximately €54 billion annually.

With growing adoption of automation technologies in the food & beverage and automotive sectors, smart factories will undoubtedly become a common trend among large and medium enterprises in the imminent future. Global Market Insights, Inc., has estimated that global smart factory market share will exceed $155 billion in annual remunerations by 2025.

Author NameAkshay Kedari

3 major driving factors influencing methyl isobutyl ketone market dynamics

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The global methyl isobutyl ketone market is slated to amass huge gains over the coming years, owing to the substance’s excessive use in insecticides and pesticides. These are essential for growing more food on less land by protecting crops from pests, weeds, and diseases. Whether from natural or synthetic sources, almost all commercial crop producers rely on pesticides, which include methyl isobutyl ketone.

U.S. Methyl Isobutyl Ketone (MIBK) Market Size, by End-use Industry, 2014 – 2025 (USD Million)
U.S. Methyl Isobutyl Ketone (MIBK) Market Size, by End-use Industry, 2014 – 2025 (USD Million)

In this context, it would also make sense to state that the rapid expansion of crop protection insecticides market is a key indicator demonstrating the growth of methyl isobutyl ketone market in the upcoming years.

How is the availability of fertile land impacting the business arena?

The agriculture sector in today’s day and age is under a stressful phase. The world needs more food, labor force, and fertile land to feed a rapidly growing population. The global population is anticipated to reach 9.8 billion by the year 2050. As a result, the demand for food will be 60 percent more than what it is today, but issues such as urbanization, climate change, and soil degradation will have reduced the availability of fertile land.

However, through pesticides, farmers can grow bigger crops on less land and increase productivity considerably. Since less area is used, it can also help reduce soil erosion, while controlling invasive pests and species. Hence, the declining availability of fertile land will pressurize farmers to focus on crop quality and quantity, which will in turn, boost the adoption of pesticides, thereby benefiting methyl isobutyl ketone industry share.

Are rising incidences of foodborne diseases driving product demand?

Crops are always susceptible to numerous kinds of species, weeds, and plant-eating pests that threaten the crop productivity. The threat doesn’t stop there, once an infested crop leaves the field, it can spoil the produce during the storage and transportation process as well, impacting consumers via severe foodborne diseases.

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According to a credible source, around 1 in 10 people globally fall ill from eating food that is contaminated. A huge example concerning the matter is the 2017 E coli outbreak in the US from Romaine lettuce, following which 200 people fell sick, 96 were hospitalized, and five succumbed to the disease. Pesticides can help prevent disease outbreaks by killing insect populations that carry deadly bacteria. The increasing prevalence of foodborne diseases, stringent norms, and rising awareness pertaining to food security will thus boost the demand for insecticides, thereby proliferating methyl isobutyl ketone industry share.

Is growing preference for organic farming a positive sign?

Speaking of food safety, synthetic pesticides have also taken a beating for their high toxicity. High exposure to pesticides is said to cause several serious illness and diseases in humans, including respiratory diseases and cancers. To enhance productivity without posing a threat to consumers, manufacturers are now experimenting with organic pesticides which is further supported by the increasing acceptance for organic farming. Incidentally, the rising preference for organic food is also driving biopesticides market, the expansion of which is impacting methyl isobutyl ketone industry outlook.

Along similar lines, biotech firm Bionema recently raised £180,000 to develop biopesticides that can substantially reduce the dependency on chemicals for crop pest control. The company already is already marketing some products and plans to launch new biopesticide products by 2021. Methyl isobutyl ketone manufacturers use this chemical in organic pesticides and agrochemicals, which makes organic farming and increasing use of organic agrochemicals a positive driving force for the methyl isobutyl ketone market.

The global methyl isobutyl ketone industry is slated to be fueled by the rising need to produce high-quality yields in tandem with increasing demand for food. In addition, increasing need to prevent wastage of potential produce due to bacteria and plant-eating insects will present methyl isobutyl ketone manufacturers with huge opportunities in the crop protection market.

Apart from this, increasing government efforts to boost agricultural development, particularly in rural regions, will further contribute to market growth. For example, the government of India is reportedly aiming to double farm incomes by 2022. Successful achievements of such targets will empower farmers and agricultural firms to adopt more effective practices that involve the use of expensive organic or synthetic agrochemicals, that will eventually favor the global methyl isobutyl ketone industry. Furthermore, a research report by Global Market Insights, Inc. estimates methyl isobutyl ketone market to be worth more than $800 million by 2025.

Author NameKrithika Krishnan

Global digital twin market analysis – 3 biggest business challenges the technology can overcome

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As organizations embark on their digital transformation journey, the global digital twin market size is showing a consistent increase in consort with advancements in the Internet of Things, cloud, machine learning, artificial intelligence, and Industry 4.0 technologies. Digital twin market trends are primarily driven by the technology’s ability to dramatically enhance product performance while mitigating the risk and cost of new product introduction. Additionally, this newfangled technology can boost product realization time by eliminating some of the most time-consuming aspects of real-world product development.

Germany Digital Twin Market Revenue, By Application, 2018 & 2025 (USD Million)
Germany Digital Twin Market Revenue, By Application, 2018 & 2025 (USD Million)

With the rapid proliferation of the Internet of things, a slew of opportunities are knocking the doors of leading players operating in the digital twin market space. Moreover, with digital twins, it is possible that the data which is transferred between blocks can be highly protected and made universally transparent through the blockchain paradigm, thus inspiring global digital transformation. Speaking of the future outlook of this industry, digital twin market statistics by Global Market Insights, Inc.. indicate that the industry valuation is projected to exceed USD 20 billion by 2025.

The fields of application for digital twins are diverse and not confined to a specific domain or industry. Having said that, digital twin market analysis reports claim that automotive, manufacturing, energy & utility, healthcare, aerospace and defense, infrastructure, retail, and consumer goods are the leading end-users of this unconventional technology.

A brief overview of the latest digital twin market trends:

  • In a bid to create solutions for a better future, the healthcare market has lately become a leading contributor to the digital twin industry revenue. The increasing use of machine learning in medicine and augmented and virtual reality in healthcare market for streamlining hospital processes & operations, augmenting customer experience, and generating real-time analytics, has fueled the demand for digital twins in the healthcare domain. For instance, efficient data entry and location of assets can speed up the patient admittance procedure and save significant waiting time.
  • With the advent of Internet of things, there has been a rapid increase in smart construction and connected spaces. Digital twins are these days deployed in connected buildings to stimulate building settings based on historical data to detect changes in the design of the building, as well as locate rooms that are wasting power or are rarely used. As smart construction becomes more popular across global economies with growing disposable incomes, the digital twin industry size is slated to rise significantly.

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3 Biggest business challenges digital twin can overcome:

  • Accurate inventory to avoid overstocking:

The global inventory management software market space has lately been brainstorming the possibilities of digital twin to reduce cost and revenue leakages, for gargantuan warehouses and supermarkets, where managing optimum inventory level is the biggest challenge. Digital twin market analysis suggests that the availability of real-time consumption data can lead to a quicker replenishment of supplies and avert over-inventorying, which can cause product spoilage. Hence, the fast-paced adoption of digital twin in the inventory market offers lucrative growth opportunities for the digital twin industry.

  • Addressing the shortcomings of aerospace fleet management:

Some of the biggest challenges in fleet management in the aerospace industry are poor data integrity, slow turnaround time, aging systems, high maintenance costs, and antiquated manual processes. The utilization of digital twin is poised to bring about a paradigm shift in the traditional approaches, by filling the gap amid the physical and the digital worlds. This innovative technology can offer predictive and prescriptive analytics which can reduce unplanned downtime for engines and cut maintenance, repair & overhaul costs, thereby enhancing fleet performance.

  • Amplifying testing & product development capabilities:

Digital twins can potentially help industries in reducing product development and testing expenses. Companies depending heavily on destructive testing for developing products can use the virtual replica of the real-world scenario for significant portion of the product testing. Say for example, automotive industry can employ digital twin for crash testing prototype vehicles. Likewise, enterprises creating giant models and prototypes for feasibility analysis can save money with digital twins during product development. Digital twin market is slated to advance at a rapid pace in the coming years, given the above backdrop.

Currently, the term digital twin looks like a future concept surrounded by a lot of marketing hype from some top-notch technology companies like Amazon, Microsoft, IBM, and the like. But, considering the unparalleled growth of the digital twin market share in recent years, it can be alleged that this disruptive technology will ensue a broad and deep impact on a plethora of industries in 2019 and beyond.

Author NameNikita Chaurasia

Four application sectors augmenting pour point depressants market size

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Pour point depressants market size, in recent times, has registered a direct impetus through the expansion of oil and gas sector – tagged as one of the leading consumers of PPDs. Governments worldwide, specifically the Trump government, have been wholeheartedly lending support to the expansion of the oil and gas industry and have been working to speed up its progress.

U.S. EVA Pour Point Depressants Market Size, 2019 & 2025, (Kilo Tons)
U.S. EVA Pour Point Depressants Market Size, 2019 & 2025, (Kilo Tons)

For example, President Trump recently signed two executive orders to speed up construction of pipelines and other projects that will effectively enhance transport of oil and natural gas between not only across states but across international borders as well. Pour point depressants market size is likely to receive a boost from such moves as crude oil is often too thick to be transported with ease over long pipelines.

Crudes and heavy fuel oils, being the mixtures of hydrocarbons that range from paraffins, resins and naphthenes to asphaltenes tend to crystallize when cooled down which lead to sedimentation and eventual blockage of pipelines. To keep crude oils moving through pipelines, pour point depressants have to be added to them, which in turn will lend commendable impetus to pour point depressants market size.

The paragraphs listed underneath elaborate on the application spectrum of PPDs. The rising demand for these products across these verticals is that are expected to enhance the pour point depressants market size over 2019-2025:

Application in crude oil transportation:

To elaborate further on use of PPDs in crude oil transportation, it should be mentioned that 20% of all produced crudes have high wax levels and pour points. Most crude oils have to be transported through pipelines that takes them to refineries, processing plant or storage. Among the various technologies that are deployed to conveniently transport crude oil, use of PPDs has proved to be by far the most economical technology.

With PPD manufacturers working with customers to produce more customized products, the pour point depressants market is expected to gain commendable proceeds over the forthcoming years.

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Application in diesel fuels and heating oils:

Chemical characteristics of diesel fuels and heating oil are as such that they contain lower molecular weight paraffins which can demonstrate different cold flow properties. For instance, diesel cuts sourced from Gas to Liquid or Coal to Liquid procedures have higher pour points when compared to crude distillation sourced diesel.

Local requirements and pipeline specifications also sometimes make PPDs inevitable for diesel fuels. In this context, pour point depressant market players often work to develop tailored PPDs that will also serve to augment pour point depressant market size further.

Application in marine fuels:

New sulfur emissions restrictions levied by various governments and agencies on marine vehicles have prompted ship owners who are unable to install costly exhaust treatment equipment to use hybrid fuels which are developed with a blend of heavy and light fuels. Pour point depressants market size has gained a considerable impetus through the development and use of such fuels as these marine fuels have to be brought to Pour Point specification with the use of PPDs.

Pour point depressants industry players who had observed this marine market trend early on have been observed to have invested heavily in better R&D regarding the development of tailored PPD additives for new types of marine diesel. In consequence, this has added a significant stimulus to the use of such fuel types.

Application in automotive sector:

The automotive industry has long since struggled with the problem of waxy buildup as wax is present in almost all refined lubricating oils. Given that the wax crystalizes at low temperatures, preventing the oils from flowing, original equipment manufacturers have invested in numerous research and development programs to find a solution to this problem.

It has been found that most OEMs have come to rely on modern, high-performance lubricants to control viscosity and prevent wear under operating conditions. Pour point depressants have been instrumental in helping lubricants to achieve such a target and have kept automotive fluids flowing even in cold weather. This has provided a major boost to PPD manufacturers and they have been found to come up with newer portfolios of products lately.

With evolving needs in various industries that utilize petroleum and where free flowing oils is a major requirement, PPDs will always find major application avenues. The World Bank has increased its investment in fossil fuel development, with $21 billion being invested between 2014 and 2018. Though the general trend is to increasingly eliminate focus from use of fossil fuels, such investments prove otherwise. A report by Global Market Insights, Inc., forecasts pour point depressants market size to surpass $935 million by 2025.

Author Name :Paroma Bhattacharya

Fluorinated ethylene propylene market to garner appreciable valuation from tube sales over 2019-2025, chemical processing industry to drive the application landscape

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The global fluorinated ethylene propylene market is slated to experience immense growth prospects in the coming years owing to the product’s extensive use across the automotive, electronics, food & beverage, and medical industries. In the automotive sector, FEPs are widely used in compact and small-sized cars, in the tubing, bellows, and pressure hoses. The increasing shift among car buyers from sedans to more compact cars, especially in emerging economies will thus propel the growth of FEP industry.

U.S. Granules Fluorinated Ethylene Propylene (FEP) Market Size, 2018 & 2025, (Kilo Tons)

Fluorinated Ethylene Propylene Market

Small cars are also the most affordable vehicles to get on to the road and are easy to park as they don’t take up much space. For a middle-class family in emerging nations, a compact car facilitates savings since they are more fuel-efficient compared to sedans and SUVs. Hatchbacks also serve as the best option, in terms of passenger and driver safety with advanced collision control at affordable prices. In 2018, car manufacturers in India invested heavily on small cars to enhance sales records in smaller parts of the country.

For instance, Hyundai, relaunched its most loved hatchback Santro to appeal to Tier 1 and 2 cities where per capita vehicle ownership is still significantly small. Therefore, increasing demand for small vehicles from emerging and low-to-middle income nations will boost the global FEP market outlook.

Growing product demand for automotive ball bearings, paints, and adhesives, and sealants from the construction sector will also help the global FEP market gain traction in the coming years. Latest data from The Bureau of Labor Statistics and Timetric’s Construction Intelligence Center, estimates the construction industry to grow at a modest rate over the next several years. Industry professionals further predict one of the largest increase in real output for the construction space, with the business hitting the trillion-dollar remuneration space by 2020. This would remarkably surge the need for adhesives and sealants, driving FEP industry share.

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Construction of residential housing will witness growth in the years to come owing to the rising population in the United States. Government spending to support homeownership, housing developments and a sustainable community in a bid to provide access to affordable housing will further increase the demand for construction projects. The development in the construction industry will massively boost the demand for paints, adhesives, and sealants, which will eventually drive the fluorinated ethylene propylene market in the coming years.

Fluorinated ethylene propylene tubing is a robust engineering fluoropolymer which offers excellent fluid visibility, low-temperature resistance, and low coefficient of friction and is perfect for flow control monitoring. Hence, the product finds significant use in chemical processing applications as well as the petroleum and oil & gas industry.

For instance, the Indian government has come out with new policy reforms, which makes drastic changes in the country’s Hydrocarbon Exploration Licensing Policy and the Open Acreage Licensing Policy in a bid to garner more domestic and foreign investment for exploration of oil and gas, which if successfully implemented could drive the demand for FEP tubes. According to a report by Global Market Insights, Inc., FEP tubes market from chemical processing application is estimated to register more than 6% over 2019-2025.

These materials are also commonly used in solar panel applications. Fluorinated ethylene propylene films serve as the perfect protective front sheet for solar panels due to their smooth, flexible and light-weight features. The material also makes sheets stronger, thereby improving the durability and life span of solar panels, while enhancing its looks as compared to traditional glass. The adoption of these glasses will be fueled by growing energy consumption and issues concerning energy-efficiency.

Increasing efforts to generate energy from renewable sources, stringent government regulations and the benefits pertaining to efficient energy use and affordability of solar panels will further propel the solar power industry. Recently, in an effort to become America’s leading rooftop solar company, automotive and energy giant Tesla, slashed prices of solar panels. Such moves will accelerate the adoption of solar energy, which will boost the demand for FEP films, thereby driving the global FEP market growth over 2019-2025.

Fluorinated ethylene propylene will continue to attract huge demand from numerous industries owing to its vast benefits. According to Global Market Insights, Inc., the fluorinated ethylene propylene market valuation is anticipated to reach $1.2 billion by 2025.

Author NameKrithika Krishnan