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Growing number of offshore wind projects to fuel submarine power cable market size
With continuous developments in the offshore oil and gas sector along with groundbreaking subsea cable technologies, submarine power cable market is poised to witness a remarkable growth over the coming years. Today, several power suppliers and governments are shifting their preferences toward renewable energy sources like offshore wind power and even oil & gas companies are adopting new procedures to improve efficiency, reduce costs, and exploit new fields. Growing number of renewable energy projects and escalating penetration across other submarine applications will offer considerable boost to submarine power cable industry outlook.
Submarine Power Cable Market Size, By Voltage, 2019 & 2025 (USD Million)
Expanding number of offshore wind farms and electrification of offshore oil and gas platforms has led to augmented research activities and tremendous progress has been made in quality of power cables. With the advent of subsea cables, it becomes extremely easy to connect oil platforms to mainland power grids. It also enables timely monitoring and surveillance to reinforce the business development and management of almost all activities in the ocean. Booming energy sector worldwide will immensely propel the revenue graph of submarine power cable industry from the demand of advanced and more reliable subsea cables.
A submarine power cable had been deployed recently between Montenegro and Italy under an investment of EUR 1.15 billion that will allow Montenegro to develop as an energy hub for the Balkan countries. The project has already fetched more than EUR 600 million for local businesses in Montenegro. Such developments would create abundant opportunities for oil & gas companies and other suppliers, attracting significant investments in the energy sector, for renewable sources and digitization. The surge in installation of submarine electrical cables to supply power and emergence of more advanced techniques will thrust global submarine power cable market share.
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Over the past decade, novel technologies are being utilized to perform better maintenance and repair of underwater cables for reducing the overall cost of operations in the offshore energy segment. Oil companies are extensively using high-speed fiber networks to vastly enhance their remote field operations, improve field safety records and to take full advantage of real-time information. Operators are rapidly gaining installation expertise in ultra-deep waters and are aiming to advance the array of energy and telecom cables for offshore production. Increasing adoption of such products will considerably influence submarine power cable industry outlook.
LS Cable & System, a Korea-based industrial corporation and cable manufacturer, has inked an agreement in July 2019 worth $100 million worth with Orsted, a state energy firm from Denmark, to build a submarine power grid in Taiwan. The Taiwanese government is planning to invest nearly $23 billion to increase the volume of renewable energy generated in the country, from existing 5% to 20% by 2025. Growing number of submarine power grid projects will substantially impact submarine power cable industry trends.
In terms of geographical trends, European and North American electricity providers are shifting preferences towards integrating more offshore renewable energy sources such as wind and tidal wave installations. Submarine cables will allow the utility companies to transfer larger power flows over great distances with reduced rate of power loss. Deployment of subsea cables to strengthen conventional energy grids could also enhance the connection rate between nearby European offshore wind projects and the U.K. mainland electricity grid network.
The EuroAsia submarine High Voltage Direct Current (HVDC) cable is one of the largest submarine power cable lines in the world which connects the Greek, Cypriot, and Israeli power grids with 2000 MW power capacity. These kind of project will open up substantial prospects for submarine power cable suppliers in the ensuing years. Prominent reports inform that in 2018, Europe submarine power cable market had generated a revenue of more than USD 2.5 billion.
Owing to widespread implementation of pioneering energy transfer technologies, there would be promising growth prospects for offshore wind farms over the forecast period and subsequent need for power transmission. Eminent players offering reliable subsea cable products include Sumitomo Electric, LS Cable & Systems, Nexans, KEI Industries, Prysmian, Furukawa, TF Kable, Ningbo Orient wires, Sumitomo Electric, ABB, Intertek Group, and Hengtong Marine Cable Systems. Global Market Insights, Inc. has projected that global submarine power cable market size will surpass USD 3 billion in annual valuation by 2025.
Author Name : Deeksha Pant
Global metal foam market to be fueled by an upsurge in automobile production and construction activities
The global metal foam market size is poised to increase commendably over the coming years owing to increasing investments in infrastructural development along with uses across applications like automotive, aerospace, healthcare, energy, and more. These materials provide superior benefits as opposed to other materials, thereby offering promising growth prospects to key manufacturers operating in this industry. The extensive use of metal foam in building structures and wall coverings due to its fire-resistant properties and superior thermal insulation will boost its demand in construction and infrastructural applications.
U.S. Metal Foam Market Size, By End-Use Sector, 2014 – 2025 (USD Million)
Development in construction activities, particularly in emerging markets, is a major driver for increasing metal foam industry share across the world. Increase in per capita income and enhanced living standards across developing economies will proliferate the demand for commercial and residential structures across developing nations. According to the Ministry of Statistics and Programme Implementation (MoSPI), India’s per-capita income is anticipated to have surged by 10% to INR10,534 a month during financial year ended March 2019. Growth in personal income will result in a higher demand for housing, thereby augmenting the metal foam industry size in the forecast years.
As emerging economies continue to grow, infrastructure development has emerged as a pivotal factor for the expansion of transportation, production, and communication industry. India’s budget for 2019 intends to amplify the country’s connectivity infrastructure by creating a network of highway grids. Moreover, the nation has also planned to invest INR50 lakh crore for developing its railway infrastructure. Infrastructural development across emerging economies will favor metal foam market outlook.
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The metallic foams are used in the automotive sector to increase sound damping, boost energy absorption, and reduce overall vehicle weight. Hence, burgeoning automotive production will also lead to an increase in demand for metal foam products. Data by the Federal Reserve claims that industrial production surged by 0.4% in May 2019 due to an increase in passenger cars and pickup trucks production. Such developments in the automotive industry also signify a positive sign for global metal foam industry.
Increasing adoption of electric vehicles is anticipated to be a lucrative opportunity for metal foam manufacturers across the world. In order to enhance vehicle performance, lightweight auto parts are crucial in electric vehicles. SmartBatt project by the European Commission is aiming to create battery packs by using a core of aluminum hybrid foam. Successful implementation of such innovations could further spur metal foam demand in the automotive sector.
Moreover, technological advancements in metal foam products will also aid industry growth over the ensuing years. For instance, Saarland University scientists recently developed a range of lightweight and strong metallic foams capable of impact protection and shock wave absorption. These metal foams can be customized for a wide range of applications, which makes them a prominent contributor for global metal foam market share in the near future.
In terms of geographical trends, Asia Pacific is likely to observe considerable growth owing to increase in automotive construction activities across China and South Korea. Moreover, Asia Pacific is also witnessing a massive need for housing and infrastructural projects, which will further proliferate product demand in the region’s construction sector.
Europe is also likely to emerge as a strong regional contender owing to development in its automotive industry. Due to increasing concerns surrounding vehicular emissions, adoption of electric cars is picking pace, which is bound to create huge impetus for the region’s EV industry, thereby augmenting Europe metal foam market outlook over the coming years.
Other end-user applications for the metal foam market include healthcare and aviation sector. For example, NASA is exploring the possibilities of noise reduction in aircraft using metallic foams. On account of such possibilities, metal foams are poised to witness steady growth in the subsequent years. According to a research report by Global Market Insights, Inc., metal foam market is estimated to be worth more than $100 million by 2025.
Author Name : Krithika Krishnan
Global structured cabling market remuneration to hit USD 25 billion by 2025, escalating product demand from data center facilities to fuel the industry landscape
Propelled by extensive proliferation of digitization, the structured cabling market is slated to establish itself as an extremely lucrative investment ground in the forthcoming years. A number of legacy facilities are finding it difficult to maintain the order & ease with which a cabling infrastructure can be accessed. However, the extensively used cable management solutions & products in structured cabling can be installed with relative ease & can facilitate modular and simple designs, providing these legacy facilities with an ideal solution for the challenges they face, thereby driving the structured cabling market landscape.
U.S. structured cabling market, by application, 2018 & 2025 (USD Million)
Apart from industrial applications, structured cabling is also finding deployment in modern residential & commercial construction projects. One of the latest avenues of growth for the market is the rapidly developing smart building & intelligent lighting industry, fraught with LED lights, integrated with sensors & controls that perform a number of different tasks, ranging from motion sensitive lighting and controlling brightness & color through the smartphone to managing ventilation according to the number of individuals in a room.
Global structured cabling market | Impact of the growing data center demands from businesses
The increasing adoption of several digital services as well as the growing population of internet users has been augmenting data center demands across the world, which is in turn fueling structured cabling market growth. The world is becoming increasingly more digital & connected – indeed, according to a Cisco Visual Networking Index, the annual IP traffic across the world would be reaching the 3.3 zettabytes (ZB) mark by year 2021 and would be increasing more than threefold over the coming five years, driving extensive demand for data centers.
Structured cabling systems are a crucial part of data centers as they facilitate faster data-transfer rates and ensure effective connectivity of the different IT devices in the facility, thus lessening the chances of system failure & downtime, which significantly improve the effectiveness of a business’ decision-making process, helping it maximize its profits.
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Moreover, increasing high-speed connectivity demands of data center & device convergence would also be responsible for driving the market’s growth. The industry is witnessing an increasing rate of adoption of coaxial & fiber optic cables to quench the high-speed connectivity demands. These cables boast of a significantly greater level of bandwidth & can transfer much larger amounts of data per unit of time in comparison to conventional metal cables, making them a must-have for modern networks and thereby driving structured cabling market further.
Global structured cabling market | Impact of the IT & Telecom sector’s growing dependence on structured cabling
With increasing demand for faster connectivity & higher bandwidth, network designers are of the opinion that the fiber-optic structured cabling segment would be establishing itself as a backbone for the global telecom industry infrastructure. The modern technology-driven world has been changing the operating demands of almost all of the industrial sectors. Moreover, with the rapid evolution of smart devices such as tablets, smartphones & smart watches, that consume voice & data services on a regular basis, the integration of IT & telecommunication is getting rather advanced. This amalgamation is expected to drive more standardization in the two industries during the implementation of advanced technologies & infrastructures that enhance the voice & data services. This has put an increased amount of pressure on telecom companies to facilitate uninterrupted & better services to their customers.
The fiber-optic structured cabling solution is being termed an ideal way with which the industry can fulfil its connectivity requirements as they provide an optimal environment that can transmit voice & data at extremely high speeds. Moreover, as data centers are telecom operators’ foundation in present scenario, the upgradation of these facilities to enhance user experience would also be driving the structured cabling industry size from the IT & telecom sector.
Furthermore, according to a 2018 report by TeleAnalysis, adapting to changing circumstances, more than 60% of the world’s telecommunication network facilities are projected to become data centers over forthcoming years, enabling the structured cabling market to depict sizable growth from the IT & telecom applications.
Owing to the presence of a connectivity-driven foreground, the global structured cabling market would be drawing in significant growth over the years to come. In fact, according to a research report by Global Market Insights, Inc., the overall structured cabling market size would be exceeding a valuation of $25 billion by 2025.
Author Name : Akshay Kedari
Metallic pigments market to garner significant returns from the automotive sector, rising demand for a flawless metallic finish to add a new growth dimension to the industry landscape
U.S. Metallic Pigments Market Size, By Product, 2017 & 2024, (Kilo Tons)
It is rather overt that metallic pigments industry is certain to accrue mass traction from the automotive sector. As per estimates, global passenger car sales amounted to approximately more than 78 million vehicles in 2017. In terms of production and sales, China and the United Sates are touted to be the leaders in the global automotive market as is evident from the estimate that U.S. customers purchased around 6.9 million passenger cars in 2016 and produced approximately 4 million cars the same year. With major regional automotive markets such as the U.S. and China expanding by the day, the demand for metallic pigments to be used in automobile production and finish is only expected to soar. Furthermore, with established auto manufacturers quickly increasing investments in luxury and customized cars, metallic pigments industry is predicted to procure hefty proceeds from the automotive sector.
It is to prudent to note however, that metallic pigments are relatively high maintenance but have better resale value while being less susceptible to small damages that can cause more value depreciation. On these grounds, metallic pigments market size has been projected to gain quite some traction through increased automotive sales.
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The automotive industry has often been a trend setter when it has come to colors and finishes. Rising number of surveys indicate that consumer demand for gold, silver and bronze finish is now on a rise. A marked rise in demand has been noted for silver pigments which is increasingly being used as a coating color for teletronics such as TV sets, stereos, computers and laptops. According to a global color popularity survey conducted by DuPont, silver was found to be the most popular color for vehicles in North America, Europe and Asia. Whether silver is just a trend or has become a part of the basic color palette is still a debated question but from the demand of silver metallic pigments experts have opined that silver has obtained itself the position of being the conservative color of the millennium.
Many paint companies are capitalizing on rising consumer interest and have been adding metallic finishes in their collections. For instance, the UK based company ICI offers a Dulux Discovery range which comprises shades such as eastern gold, copper pot and brushed steel. According to a report published by the company the metallics have exceeded Dulux’s predictions by almost 200%, clearly indicating the future growth prospects for the metallic pigments industry.
With the phenomenal growth of the metallic pigments market, pigment suppliers have been shaping new technologies to suit the industry needs for coatings and paint formulators. Such products, which can create mirror and chrome like finishes are rapidly gaining momentum in the industry. Parameters like increased competition and demand for enhanced performance are also urging metallic pigments market players to increase investment in research and development programs.
Prominent pigment manufacturers are striving to bring about innovation in their product range by committing towards value addition in the basic metallic pigment properties instead of producing just a one-dimensional metallic pigment. Aided by the efforts of eminent product developers and the expansion across end-use sectors such as automotive and construction, metallic pigments market is predicted to register commendable growth over 2018-2024.
Author Name : Paroma Bhattacharya
Additive manufacturing with metal powders market to chronicle its name in the billion-dollar business space, high demand for titanium alloys to drive the industry growth
Additive manufacturing with metal powders market has observed an appreciable expansion in recent years, essentially pertaining to the fact that the technique helps to build convoluted components that were earlier considered difficult to construct. Today, additive manufacturing has moved beyond the conventional prototyping technology, which has indeed acted as a major driving force for additive manufacturing with metal powders industry growth. Not to mention, the deployment of this technology has led to effective production of components that are now massively demanded across the aerospace, automotive, and medical sectors.
U.S. Additive Manufacturing with Metal Powders Market Size, By Application, 2016 & 2024, (USD Million)
A succinct gist of the material expanse of additive manufacturing with metal powders market
The material spectrum of additive manufacturing with metal powders market is rather extensive and encompasses quite a substantial number of metals and alloys. With robust rise in the number of procedures for additive manufacturing, more and more constituent metals are being involved in the manufacturing process, thereby expanding the material landscape of additive manufacturing with metal powders industry. The most common metal powders used for additive manufacturing are aluminum, stainless steel, cobalt, nickel and titanium alloys. Titanium among these is known to register an exorbitant demand, driven by its formability, light weight, superior strength and corrosion resistance. In fact, estimates claim that titanium alloy based additive manufacturing with metal powders market size will grow at a phenomenal CAGR of 29% over 2017-2024, subject to the material’s extensive deployment in the aerospace industry.
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Stainless steel has been touted as another product that is slated to witness potential growth in the additive manufacturing with metal powders market. This growth can be primarily credited to the material’s ferritic microstructure that makes it corrosion resistant and delivers superior mechanical properties to stainless steel, deeming it prefect for automobile parts, kitchen equipment and industrial appliances. Fueled by its massive application spectrum, stainless steel based additive manufacturing with metal powders industry size is projected to register a valuation of around USD 240 million by 2024.
Though additive manufacturing started out as an effective means for modelling and prototyping, additive manufacturing with metal powders industry has now experienced commendable expansion, subsequently leading to the application of the technique in a plethora of sectors. Industrial domains such as medical, dental, aerospace, automotive, jewelry, furniture, and architecture have been experiencing a touch of 3D printing techniques, while companies partaking in additive manufacturing with metal powders industry have been vying with one another to innovate varied products.
The automotive sector is a prominent end-use domain witnessing the deployment of additive manufacturing. As the demand for lightweight parts has been increasing due to the rising need to curb carbon emissions, auto parts manufactured through 3D printing are being preferred over conventionally manufactured parts. In response, additive manufacturing with metal powders market will witness a CAGR of 25% from automotive applications, over 2017-2024.
One of the chief advantages of additive manufacturing is that it is produced directly from a CAD model, owing to which it is extremely flexible and subsequently finds major applications in highly individualized processes such as dental restorations. Not to mention, the technique’s versatility has led to its deployment in numerous other medical applications. It comes as no surprise therefore, that additive manufacturing with metal powders industry size from medical application is projected to reach USD 200 million by 2024, given that the process would help speed up production time without inflating the costs.
Additive manufacturing is potent enough to be considered as one of the disruptive technologies that can change the entire landscape for design and manufacturing. From artists and designers to huge enterprises, the adoption of additive manufacturing is indeed witnessing a major ascent. In consequence, additive manufacturing with metal powders industry outlook has been observing a positive change of sorts. As the future of components is set to focus on the design for function rather than design for manufacturing, additive manufacturing with metal powders market size is undeniably slated to witness phenomenal growth between 2017 and 2024, with a target estimation of 4.5 kilo tons by 2024, in terms of volume.
Author Name : Paroma Bhattacharya
Global Market Insights Inc. 