Injection molding
SUV-based rear spoiler market to accrue commendable gains over 2017-2024, India to evolve as an opportunistic region for industry growth
Rear spoiler market has indeed crossed a major revenue benchmark in the year before last, having registered a valuation of around USD 3.3 billion in 2016. These massive proceeds can be majorly credited to the ever-changing dynamics of the automotive sector, the evolution of the EV era, and the innumerable changes brought about in vehicle production, thanks to the extensive advancements in automobile technology. With more and more automotive giants exploring novel methodologies to enhance automobile speed, safety, performance, and functioning, rear spoiler industry size is likely to soar high in the ensuing years. Recently, Mercedes-AMG, one of the most notable players in rear spoiler market, unveiled a video featuring its GT sedan, which clearly depicts the improved features added to the vehicle, rear spoilers being the focal point. Apparently, the sedan flaunts a vertical-slat Panamericana grille, LED headlights equipped with J-shaped running lights, and a completely functional active rear spoiler.
U.S. Rear Spoiler Market, By Technology, 2016 & 2024, (Million Units)
How the upcoming SUV era could impact rear spoiler market trends
In recent times, a global upsurge has been observed in SUV sales, plausibly on account of the fact that they provide extensive legroom, headroom, and storage space. With rising preferences for SUVs and the increasing production capacities of automakers, rear spoilers are likely to observe a rise in installations, thereby boosting rear spoiler market size. The demand for SUVs in particular, will have a commendable impact on the sales graph of rear spoiler industry, as is evidenced by the statistics below:
- In 2016, SUV sales in the United States were registered at 6.9 million units – a growth of 480,000 units having made it to the record.
- In 2017, SUV sales in Australia were chronicled at 465,646, capturing 39.2% of the overall market share, depicting a 14% growth from the last year.
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With a tremendously high demand and rise in popularity, SUVs are likely to be installed with high grade rear spoilers in order to enhance their performance. SUVs were the leading vehicle segment in rear spoiler market in 2016, having held over 65% of the overall share, subject to the demand for lightweight vehicles and the necessity of improved aerodynamics. Most companies in rear spoiler market have been experimenting with innovative product designs to suitably fit the requirements of major automakers. In August 2011, Mitsubishi introduced the SUV Outlander equipped with highly upgraded features in rear spoilers. It is undeniable therefore, that rear spoiler market size would massively benefit from SUV sales over 2017-2024.
India to be a crucial growth ground for the expansion of rear spoiler industry size
The rising furor for SUVs has been observed across the Indian sub-continent as well. Just recently, it had been observed that the compact SUV segment has emerged as one of the most profitable automobile categories in the country, as is exemplified by the details below:
- The Maruti S-Cross witnessed the highest rise in sales in the month of October – a mammoth 1331% increase from the September sales, from 385 to 5510.
- The Vitara Brezza recorded sales of 11,684 units, consistently maintaining its leadership position.
- Tata Nexon held a record customer count of 3099 and is expected to soar tremendously high, with a huge consumer waiting list. On this account, the company actually plans to double the production of the Nexon owing to the 3-month waiting period.
It remains no doubt therefore, that India would be a major growth ground for the expansion of rear spoiler market. In 2015, the Indian Government collected funds of USD 11.55 million to enhance the production of hybrid and electric vehicles. In 2017, this budget is reported to have increased by 42%. Thus, the surge in the demand for green vehicles coupled with beneficial government initiatives are likely to impel EV and SUV production, which would undeniably have a major impact on India rear spoiler industry.
With increased global focus on manufacturing hybrid and electric vehicles, equipped with smart features, rear spoilers market outlook has been forecast to be rather dynamic in the ensuing years. As per a report compiled by Global Market Insights, Inc., rear spoiler market size has been estimated to surpass the 5-billion-dollar mark by 2024, given the increasing popularity of these component in SUVs and hatchback cars. In essence, with changing consumer preferences regarding luxury automobiles and a paradigm shift in technology deployment in vehicle manufacturing, rear spoiler industry is certain to chart out a rather lucrative growth path in the years ahead.
Author Name : Saipriya Iyer
Purging Compound Market to accrue hefty returns via packaging applications, high-grade advancements to augment industry growth over 2017-2024
The dire need to make purging highly efficient and less expensive has been one of principal catalysts for purging compound market growth in recent years. In a bid to reinforce efficiency and reduce purging costs, companies partaking in purging compound market share have been making continuous attempts to innovate unique compounds that can be used for myriad end-use arenas such as those of custom molding, packaging, automotive, electronics, healthcare, and consumer goods. Last year for instance, the Dyna-Purge Division of Shuman Plastics Inc. launched the Dyna-Purge A for polypropylene color changes. Apparently, this hybrid product combines the pivotal features of both – the chemical and mechanical purging systems, and encompasses ingredients that penetrate all the stagnation areas. Furthermore, the Dyna-Purge A has been found to demonstrate much more effectiveness than abrasive purging compounds and in-house resins for during PP color changes. Given how conveniently the Dyna-Purge A saved money and time by lowering scrap rates and purging expenses, the product quickly gained widespread prominence in purging compound industry.”
U.S. Purging Compound Market Size, By Process, 2016 & 2024 (USD Million)
The Dyna-Purge A apparently has also emerged as a major stimulation for purging compound market players. During the testing phase, the product enabled the successful transition of the purging process from black to natural PP in merely seven shots. Having been engineered to flake off from the machine post leaving behind the next production resin but no trace of any residual purging compound, the Dyna-Purge A has been deemed fit for a variety of arenas such as cast films and hot runners, thereby successfully impacting the product landscape of purging compound industry.
The packaging sector is one of the most dynamic end-use domains of purging compound market. The robust growth of this business space has led to a spike in the demand for purging compounds in the extrusion processes in the packaging companies, eventually leading to a change of dynamics in purging compound market outlook. Furthermore, this business vertical comprises myriad sub-verticals such as flexible packaging, medical packaging, liquid packaging, and the like, thereby leading to a rapid rise in the requirement for purging products across the global expanse of this domain.
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Speaking of which, it is noteworthy to mention that extrusion is one of the most pivotal processes in purging compound industry. Given that it conveniently helps to differentiate plastics from various substrates for equipment cleaning, the process is widely deployed across numerous end-use domains. As per estimates in fact, purging compound market size from the extrusion process is forecast to register a CAGR of 7% over 2017-2024. Driven by its excellent benefits such as ease in carbon elimination, faster color changes, and more, and the rapid expansion of the packaging sector, purging compound market share from the extrusion process is expected to accumulate substantial gains over the years ahead.
Numerous end-use domains have lately been demanding cost-effective scrap removal solutions, pertaining to the global demand for carbon emission control and corrosion prevention. The chemical sector, specifically, has been in a roll, exhibiting a rising inclination toward efficient and less expensive purging processes. This in consequence, has led to a global rise in the demand for high-grade products, gradually impelling purging compound market trends. Furthermore, it is prudent to mention that this business vertical and the production methodologies it is inclusive of are highly dependent on crude oil. Naturally, the fluctuating costs of crude oil as well as other raw materials are certain to have an impact on the price trends of purging compound industry. As per Global Market Insights, Inc. purging compound market size would apparently double by 2024 – having held a valuation of USD 300 million in 2016, purging compound industry share is forecast to cross a revenue of USD 600 million by 2024.
Author Name : Saipriya Iyer
APAC automotive air intake manifold market to accrue heavy gains over 2017-2024, driven by the rising automobile production
Hydrogen Engine Center’s recent launched intake manifold technology has marked a quantum leap in automotive air intake manifold market. This new design will apparently overcome the air & fuel imbalance in all the V8 engines, leading to reduced power and operational inefficiency. In addition, the technology is designed to improve the overall power output between 4% to 8% on almost all the internal combustion engines and can work on any type of combustion engine with four or more number of cylinders. The fact that this design will halt the backfiring of V8 engines with the usage of hydrogen as a fuel would certainly impel automotive air intake manifold market in the years to come.
U.S. Automotive Air Intake Manifold Market Size, By Vehicle, 2013 – 2024 (USD Million)
Recently, Ford India unleashed the 1.5-liter Ti-VCT, a three-cylinder petrol engine, that would open new growth avenues in India automotive air intake manifold industry. The manufacturing unit of the firm based in Sanand, Gujarat will manufacture this innovative petrol engine that will fulfill the demands of both the regional and global automobile sector, as it offers enhanced fuel efficiency and helps reduce the carbon emissions in the environment.
Key automobile manufacturers have been striving to expand their production base lately, given the intense competition and product demand. Holley Performance Products Incorporation, for instance, has established a manufacturing unit at Franklin in the U.S, which is likely to augment the vehicle production and increase the number of jobs across the automotive sector. The numerous developments underlining the automotive domain and automotive aftermarket have led experts to predict that automotive air intake manifold market will indeed experience lucrative growth prospects over 2017-2024.
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The substantial rise in the demand for vehicles across Indonesia, China, and India has led to an improvement in the vehicle production capacity, which would certainly augment APAC automotive air intake manifold industry. Furthermore, APAC has been predicted to contribute over 45% toward global automotive air intake manifold market revenue by 2024, driven by the ever-expanding automotive sector in the region.
Germany on the other hand, houses some of largest automobile manufacturing firms such as Volkswagen, Audi, Mercedes Benz, and BMW, which would considerably stimulate Germany automotive air intake manifold market. In addition, escalating demand for passenger cars across the region, resulting in an increase in the vehicle production will further augment the regional growth.
Reputed players such as MAHLE Gmbh, Aisin Seiki Company Limited, Keihin Corporation, Röchling Group, Mikuni Corporation, and Sogefi S.p.A partaking in automotive air intake manifold industry share have been focusing on expanding their consumer base and brand visibility across myriad geographies. Citing an instance, in the second quarter of 2017, Rochling Group commissioned its first automobile manufacturing plant in Mexico.
Favorable trade policies and the prevalence of effective product distribution channels have also considerably augmented this business space. Manufacturers have lately been adopting just-in-time strategies that has resulted in high product penetration across the automotive sector, thereby stimulating automotive air intake manifold industry. As per Global Market Insights, Inc., automotive air intake manifold market will cross a targeted revenue margin of USD 51 billion by 2024.
Author Name : Dhananjay Punekar
Global Market Insights Inc. 