Polyester
Industrial protective fabrics market to witness remarkable proceeds from the notable demand for arc flash suits
The industrial protective fabrics market is slated to witness a prolific demand over the next few years owing to continuous rise in manufacturing, construction and oil and gas exploration activities worldwide. Numerous cases of chemical and industrial accidents occurring annually have prompted businesses and governments to enforce stringent safety regulations and process norms to protect employees in hazardous working environments. Subsequently, effective personal protective equipment (PPE) made using various materials are being deployed that meet the critical requirements of workplace safety, providing substantial growth opportunity to the industrial protective fabrics market. Frequent human errors during operations which lead to unpredictable mishaps make it necessary to adopt decisive protection strategies.
Germany Industrial Protective Fabrics Market Size, By application, 2018 & 2025, (Million Square Meter)
Innovative industrial fabrics such as polyester, polyolefins, polyamide, aramid and even cotton fibers help protect workers against fire, chemical hazard, electric sparks or biohazards they might encounter while performing everyday tasks. The oil and gas sector alone represents a crucial application area for the industrial protective fabrics market, since oil drilling and refinery operations entail considerable fire and injury risk. A small mistake could lead to fire in one part of an oil rig, which can quickly spread to other sections and cause fatalities, along with millions in damages. Flame resistant suits would be indispensable during these situations to help implement fire safety measures and avert major industrial disasters.
Apparently, electrocution is one of the leading causes of industrial accidents and results in several fatalities every year all over the world. It is believed that most of the electrical accidents which could take place in oil and gas facilities can be attributed to an arc flash, an extremely hazardous type of electrical shorting fault. The event occurs when a large electric current passes through ionized air or gases due to different reasons, including manual errors, equipment failure, gaps in insulation or surface impurities on the conductor. Today, the vast scale at which oil companies undertake exploration activities will generate extensive demand for arc flash suits and immensely propagate the industrial protective fabrics market.
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In essence, arc flash suits are designed to safeguard a technician from arc flash heat exposures and minimize any burn injuries sustained, in addition to providing valuable time to escape a possible secondary explosion in the area. Considering the amount of flammable liquids and gases accompanying an oil and gas facility, occurrence of an arc flash can be catastrophic. Undoubtedly, arc flash clothing will be a vital component in a company’s inventory for effectively protecting its employees and minimizing the extent of any burns or other injury. According to a long-term study conducted by Electricite de France, an estimated 77% of all electrical injuries taking place on the job are a result of arc flash incidents, demonstrating the broad scope of the industrial protective fabrics market.
A key driver for the consumption for arc flash suits is the growing awareness among enterprises about the prevention of industrial accidents and support from regulatory agencies who impose strict industrial standards. For instance, the U.S. Occupational Safety and Health Administration has directed businesses to provide necessary PPE to workers at no extra cost, including all types of protective clothing. The National Fire Protection Association’s NFPA 70E article specifies the need for electrical hazard analysis for areas where high voltage systems are being operated, further helping to determine the use of industrial protective fabrics against arc flash.
Electrical installations play a prominent role in the operations of oil refineries and drilling rigs and warrant significant concentration of funds towards safety analysis and PPE allocation. With tremendous investments made for exploring new oil and gas fields as well as the growth of various other business verticals, the industrial protective fabrics market will exceed annual valuation of more than US$9 billion by 2025. Leading players outlining the industry’s competitive hierarchy include Huntsman Corporation, DuPont, W. Barnet, Honeywell, Loyal Textiles Mills and Teijin, among others.
Author Name : Pankaj Singh
Conveyor belt market from the F&B sector to register the fastest CAGR over 2019-2025, proliferating packaged food consumption trends to augment the industry landscape
A highly profitable vertical of the expanding construction space, conveyor belt market stands tall in terms of revenue in today’s industrial cosmos. With the global populace growing consistently by the day and improving economic conditions, the commercialization prospects of food & beverages industry has observed quite an incline. As conveyor belts have become an integral part of any typical F&B production facility, it goes without saying that the expansion of the F&B space will help conveyer belt industry chart out a lucrative growth path in the years ahead.
U.S. Conveyor Belt Market Size, by Product, 2014 – 2025 (USD Million)
According to Cushman & Wakefield, the world’s food & beverage industry has witnessed healthy growth over the previous decade and is expected to grow further in the years ahead. In fact, the lure of food is expected to become a crucial motivator behind the construction of public spaces such as shopping centers & parks experiencing substantial footfall on a daily basis.
Meanwhile, the adoption of conveyor belts across the world’s mining sector is on the cusp of witnessing a complete overhaul as the industry undergoes a digital transformation in an attempt to move itself beyond stagnant growth and deliver exceptional value to the shareholders, the customers as well as the environment. Driven by technological advancements and given the product’s ability to boost production by a substantial margin while also cutting down labor costs, the conveyor belt industry is expected to consolidate itself as the backbone of the world’s manufacturing sector, mainly characterized by mass production.
Impact of the expanding food & beverage industry on the conveyor belt market
According to the Franchise India Holdings Limited, the economic growth experienced by developing nations such as India, Brazil, Russia & China is bringing significant changes to the regional meal consumption landscape. An increasing preference toward packaged food purchase has been observed, thereby providing a lucrative growth opportunity to the conveyor belt market players.
The Drivers: Urbanization is being highlighted as a key driver promoting the expansion of the F&B industry. The populace across the developing nations are immigrating to emerging cities in search for better opportunities, which is making a conspicuous change on their lifestyles & eating habits.
Most of the population sprawled across urban locales seem to often struggle to find the time, or the energy required to preparing their own meals & beverages from scratch at home, which increasingly pushes them towards packaged food & beverages. This consequently leads to the F&B sphere experiencing an exponential growth, bringing about renewed prospects to the global conveyor belt market.
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The Numbers: According to the World Economic Forum, as the global population rises to 9.7 billion by 2050, it is estimated that humanity would require 70% more food than it is consumed today. With a majority of the aforementioned population slated to live in urban areas, packaged food & beverages would be accounting for a significant chunk of the meal requirements, ensuring an abundant source of growth for the global conveyor belt market.
The Projection: The packaged processed food industry of India alone is estimated to be worth somewhere between $10.87 billion to 13.05 billion. With rapid urbanization and the subsequent rise in the population migrating to cities, the conveyor belt market share from F&B applications is expected to witness a CAGR of more than 4.5% over 2019-2025.
Impact of the mining sector’s digital transformation on the conveyor belt market
Initially, the mining industry used conveyor belts that were quite rudimentary & durable to keep up with the taxing conditions in a mine. Ironically, these taxing work environments were exactly why conveyor belts previously struggled to foray further in the mining industry.
The Impact: The influx of substantially high-grade technological advancements have made it possible for conveyor belts to be used on a large scale in the mining sector. Digital technologies are expected to enable the market foray beyond its current stance through automation, operational hardware & robotics.
The Numbers: The World Economic Forum estimates that the digitalization of the mining industry would be bringing in more than $425 million of value to the sector by 2025.
The Projection: The growing demands from mining operations, coupled with the digital transformation of the industry, are expected to provide the conveyor belt market the footing it requires to attract more investments over the upcoming years.
Driven by the digitalization of the mining industry and the expansion of the F&B space, the global conveyor belt market is expected to command significant growth in the years to come. In fact, a Global Market Insights, Inc., report estimates that the conveyor belt market size would be surpassing the $5 billion renumeration mark by 2025.
Author Name : Akshay Kedari
Polyurethane flexible foam market to gain sizable momentum by 2025, APAC to emerge as a prominent revenue pocket
Highlighting the rapid developments across the global flexible foam market, it would be pivotal to state the mention the Germany-based global leader in flexible foams, Armacell. Apparently, the firm has recently opened its new manufacturing facility in Bahrain. According to news reports, the facility has an annual operational capacity of 60,000-cu m of technical insulation foam, in turn providing a wide range of insulation solution for the domestic market including elastomeric insulation & high-density materials for HVAC (heating, ventilation, and air conditioning) systems. Industry analysts deem that Armacell’s move to open flexible foam manufacturing facility will not only cater to the strong product demand in the Gulf region, but will also strengthen its foothold in the global flexible foam industry space.
Asia Pacific flexible foam market, By Type, 2018 & 2025, (Million Tons)
This German company, however, is not the only major flexible foam industry player that’s seizing the growing product demand from myriad applications including packaging, construction, furniture & upholstery, bedding, pillows, carpet cushion, mattresses, consumer goods, and automotive interiors. FRX Polymers Inc., recently for instance has introduced its Nofia non-halogenated polyphosphonates that will be used in UL 94 V-0 high-temp polyurethane flexible foams used in the transportation & electronic industries. For the record, Nofia phosphonate oligomers act as a flame retardant & heat stabilizer in polyurethane flexible foam products and retain mechanical performance.
A statement by FRX claims that the Nofia FR enabled the fire retardant polyurethane foam to conveniently handle higher temperatures – with respect to both, the continuous use temperature and peak temperature. FRX’s launch of Nofia is an apt instance validating the significance of polyurethane as a vital type of flexible foam. The material apparently, is characterized by outstanding features such as light weight, lower installation time, enhanced resiliency, improved cushioning, lightweight, increased shelf life, and durability.
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Elaborating on the extensive deployment of polyurethane for introducing light weightiness in vehicles, it would be prudent to mention that high-density polyurethane foam components can be effectively coated to seem like the original product, and can be manufactured with a closed-cell structure that boasts of being water-tight. Ergo, the component is not susceptible to rotting, delaminating from water intrusion, or warping. PU foam is also equipped with exceptional self-skinning properties, making the product ready for painting or coating. This has consequently increased the deployment of PU foams in myriad automotive and aerospace applications, thereby driving the PU flexible foam market share.
Powered by its excellent characteristics, polyurethane foam is widely used across a spate of industry verticals. As a matter of fact, polyurethane dominated the overall flexible foam market in 2018, with a share of over 60% of the demand. Driven by its innumerable applications in lightweight automotive parts, as thermal insulation products in buildings, in automotive interior components, and as cushioning in beddings, upholstery, etc., polyurethane-based flexible foam industry is slated to traverse alongside a highly profitable growth path in the years ahead.
Speaking of the regional spectrum of flexible foam market, the APAC undeniably, has emerged as a forerunner, a feat that can be credited to the expanding automotive and consumer goods industries in the region. As a matter of fact, the continent boasts of increased expenditure on luxurious consumer goods coupled, thereby fueling the demand for memory foams in mattresses and beddings. The region’s construction industry has also been undergoing a robust expansion of sorts, that has considerably increased the demand for flexible foams in the continent.
Powered by the expanding hospitality industry, specifically across the South-East Asian nations of Thailand, Singapore, Malaysia, Vietnam, and Indonesia, on account of supportive FDI policies, APAC flexible foam market share is anticipated to depict a commendable rise in the years ahead. Indeed, as per estimates, Asia Pacific led the overall flexible foam market share in 2018, accounting for more than 30% of the demand.
As the demand for flexible foams exhibit an incline across a slew of prominent industry verticals, the global flexible foam market is anticipated to gain quite some traction in the years ahead. The industry is also characterized by the launch of highly innovative products by numerous industry contenders. Say for instance, Deacom, Inc., the popular developer of a comprehensive ERP solution, recently concluded an implementation for an innovative PU foam chemical technology manufacturer, Foam Supplies, Inc., with Ecomate®, its patented blowing agent. The new system is expected to provide the technology foundation to manage Foam’s production operations. Aided by a ferocious competitive spectrum and a widespread application landscape, the global flexible foam industry size is set to be pegged at USD 65 billion by 2025.
Author Name : Saipriya Iyer
Middle East polymer concrete market to accrue substantial returns over 2018-2025, heavy investments in construction activities to propel the industry growth
With building developers becoming more conscious about the strength, ductility, and toughness of construction material, polymer concrete market has observed a renewed traction lately. This material is widely preferred on account of its benefits such as improving adhesive characteristics of old surfaces, tensile strength, freeze durability, and flexural strength. In addition, heavy investments in the global construction sector are being made lately, increasing the demand for various types of polymer concretes for providing impermeable toppings over the bridge decks, additives for plasters, and filling for installing tile. The growing involvement of public and private firms in infrastructure development across residential, commercial, and industrial sectors will thus have a significant impact on the polymer concrete industry share.
U.S. polymer concrete market size, by application, 2014 – 2025 (USD Million)
In line with the growing construction activities and rising focus on the surging use of polymer concrete materials, the giants in the polymer concrete market are looking forward to investing in capacity expansions. The countries across the Middle East for instance, have been rapidly expanding their existing facilities. In addition, regional governments have been making substantial investments on infrastructure development across this region, further generating lucrative opportunities for the market players.
Validating the aforementioned fact, one of the leading contributors of polymer concrete industry, Sika has expanded its regional reach across United Arab Emirates recently with the establishment of a new concrete admixture production plant in Dubai. The development of a local polymer production facility is slated to reduce the production cost that will become beneficial for customers across the GCC (Gulf Cooperation Council) to fulfil their concrete admixture requirements considerably. In addition, owing to the depletion of fossil fuel resources, the UAE government is shifting its focus on tourism rather investing in oil and gas exploration to diversify the economy. The increasing development of logistic centers and surging deployment of green technologies will propel Middle East polymer concrete market share over the years ahead.
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The rising concerns about the carbon dioxide emission is one of the causes fueling the polymer concrete industry outlook. The surging use of cement in road construction activities has led to an increase in carbon dioxide emissions across the globe. On this note, efforts are being made to utilize polymer concrete on a large scale. Reportedly, in Australia across the Victoria region, pavements, roads, and freeways have been developed with the help of geopolymer concrete. Geopolymer is a long molecule that can improve the strength of concrete effectively. The research community, on these grounds, has also been attempting to invest in research and development activities for the betterment of geopolymer concrete. The involvement of regional governments in the development of smart roads for controlling the emissions will thus generate significant business opportunities for the giants in polymer concrete market.
In several earthquake prone regions, to build foolproof earthquake resistant buildings, engineers have been focusing on the use of effective alternate materials. On this note, it is imperative to mention that the researchers from the University of British Columbia have invented new concrete that would be able to withstand tremors. This newly invented eco-friendly ductile cement comprises polymer based fibers that could increase the malleability of concrete instead of letting it crumble under pressure. The increasing importance for lightweight, intelligent, energy producing, and innovative concrete structures across the globe will thus have a positive influence on polymer concrete industry size over the years ahead.
The robust shift in the focus of building developers toward constructing eco-friendly infrastructure over the last few years will push the use of polymer concrete on a large scale. The stand taken by regional governments to improve the economy with considerable investments in roads, buildings, bridges, and renovation of old monuments is also poised to fuel polymer concrete industry trends significantly. For the record, by the end of 2025, polymer concrete market will surpass a revenue collection of USD 600 million.
Author Name : Sunil Hebbalkar
A succinct insight into industrial liquid coatings market with respect to the resin landscape: epoxy coatings to gain momentum over 2018-2025
The robust growth of the global automotive sector is certain to emerge as one of the driving forces of industrial liquid coatings market in the years to come. Industrial liquid coatings, equipped with resistance to corrosion, acids, UV rays, oils and other type of impurities that can deteriorate metals and hinder the performance of equipment, are deployed in automobiles, transportation equipment, electronics appliances, wood and non-wood furniture, metal building products, and metal containers. Indeed, OEMs have emerged one of the most remunerative application arenas for these coatings.
China Industrial Liquid Coatings Market Size, By Application, 2014 – 2025 (USD Billion)
An insight into the two basic types of resins used in the manufacturing of coatings:
Polyester
Polyester is one of the most widely used resins for industrial coatings. Polyester encompasses a superior chemical bond and is ideally temperature resistance to most materials. That said, the resin is also endowed with some other properties – polyester is known to abrasion resistant and provides prolonged corrosion protection. Both the aforementioned characteristics make polyester-based coatings ideal to be used in the marine sector and various other industrial applications, thereby augmenting the commercial landscape of polyester-based industrial liquid coatings market.
Polyester-based industrial liquid coatings industry size was valued at $8 billion in 2017 and is projected to grow at an appreciable pace over 2018-2025. Apart from its excellent properties, a pivotal reason for this industry to depict growth is that polyester coatings have the benefit of being cost efficient compared to other available coatings.
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Epoxy
Epoxy is another type of resin that is very widely used in coating production. The principal factors responsible for the deployment of epoxy are its excellent properties – the material is tough, enables quick drying, has a protective nature, and is endowed with other mechanical properties as well. Driven by its highly favorable characteristics and its subsequent benefits in coatings, epoxy manufacturing is generally undertaken on a large scale. As per the AMEC Environment and Infrastructure UK (AMEC) reports, a total of 259,000 tons of epoxy resin was manufactured in 2013, in plants located in Germany, Spain, Netherlands, Poland, and Switzerland.
In 2017, epoxy resin accounted for a commendable 30% of the industrial liquid coatings market share and is anticipated to depict a positive growth graph in the ensuing years. Reportedly, epoxy-based industrial liquid coatings are applied on the inside of cans as a protective coating that prevents corrosion and prolongs the shelf-life of the can and stored food. Additionally, it also serves well in terms of lending an aesthetic look to the can. Similar coatings are also used in the construction of wind turbine blades and metal structures. Owing to the fact that epoxy based coatings are relatively easier to apply as opposed to conventional heat cured powder coatings, they are used across a plethora of applications, thereby impelling epoxy-based industrial liquid coatings market share.
Speaking of epoxy, it is prudent to mention that the resin is widely popular in Europe. According to the AMEC Environment and Infrastructure UK (AMEC), Germany is one of the largest markets for epoxy resins in Europe, and had accounted for sales of sold approximately 88,000 tons of epoxy resin in 2013. This represents an appreciable 35% of all European sales. The UK accounted for the second largest volume of some 11% the same year, while Italy and France both witnessed for around 10% of total epoxy sales. It is thus rather overt that Europe industrial liquid coatings market, that held around $10 billion in 2017, will register a commendable growth rate owing to the surging epoxy production in the region.
One of the vital factors that may possibly restrain the growth of industrial liquid coatings market is the adverse impact on human health caused due to the release of fumes from volatile organic compounds (VOC). As per the United States Environmental Protection Agency’s Total Exposure Assessment Methodology (TEAM) study, people exposed to VOCs experience conjunctival irritation, throat and nose discomfort, allergic skin reaction, headache, nausea, fatigue and dizziness. However, regulatory bodies, in this regard, have enforced certain norms that mandate companies to use less VOC-emitting products. In accordance, bio-based industrial coatings have emerged as the latest trends, adding a new growth dimension to the overall industrial liquid coatings market.
Author Name : Mateen Dalal
Aviation sector to boost thermal spray coating market over 2017-2024, stringent regulatory framework to encourage innovative product development
In recent times, it has been observed that most of the leading players in thermal spray coating market have been constantly striving to transform the business vertical by means of bringing forth a plethora of innovative spraying systems. These firms have also been looking forward to developing sustainable spraying solutions considering the adverse effect of conventional coatings material on the environment. In this regard, in 2008, the EPA deployed new air pollution regulation rules, which have been applied for the existing thermal spraying processes that emit Hazardous Air Pollutants (HAP). Prominent HAP elements comprise manganese, lead, chromium, cadmium, and nickel. The EPA has also framed the National Emission Standards for Hazardous Air Pollutants (NESHAP) to implement regulatory compliances over the use of HPA emitting spraying process. In order to comply with such regulatory norms, many shipbuilding and refurbishment companies are continuously adopting sustainable and eco-friendly coating technologies, which would have a massive impact on thermal spray coating industry trends over the years ahead.
U.S. Thermal Spray Coating Market, By End-Use Industry, 2013-2024, (USD Million)
It is rather overt that myriad thermal spray coating market giants have been investing considerably in facility expansions in order to capture more business space. For instance, a joint venture of a leading player in thermal spray coating market, Praxair Surface Technologies and GE Aviation, PG Technology has recently decided to expand its coating facility plant based in Singapore considering the growing requirement of the product across the enormously intensifying aerospace sector. At this new facility plant, the company plans to double the electron beam physical vapor deposition coating capacity and install other important aviation-related coating processes. The facility is likely to become operational by 2019. PG Technologies’ move has been projected to increase the competitiveness across Singapore thermal spray coating market. Indeed, this investment in the capacity expansion will also help other Singapore based small scale companies to enhance their capabilities.
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Jet engine manufacturers and companies in aviation sectors are looking forward to implementing next-generation coating technologies in order to enhance the capability of jet engines to withstand high stress and temperatures, which would propel thermal spray coating market outlook. Moreover, the versatility of thermal spraying technology, owing to which it can be used for any type of material including plastic, metal, and ceramic, is one the major benefits that can be credited for its rising preference. In order to maintain the cost-effectiveness and quality of coatings, leading aerospace companies have been signing long-term partnership agreements with pivotal participants in thermal spray coating industry. For instance, a year before, Praxair Surface Technologies, one of the notable thermal spray coating market firms, signed a 10-year contract with the well-known aero engine manufacturer, Rolls Royce. Praxair Surface Technologies’ humongous expertise in coating operations will help Rolls Royce improve its engine efficiency and lifecycle. Thus, pertaining to the surging requirement of spray coatings in the aviation sector, in 2016, aerospace and defense held a revenue of USD 2.5 billion in thermal spray coating industry share.
With the increasing adoption rate of thermal spray coating technologies, several contributors in thermal spray coating market are focusing on the development of innovative and advanced coating technologies incorporated with the benefits of less energy consumption, lesser downtime, improved productivity, high quality products, extended shelf life of products, and lower operating costs. Indeed, in the ensuing years, the growing demand for next-generation engines and high-quality components is slated to generate lucrative opportunities for giants in thermal spray coating industry, that would eventually impact the revenue generation of this business space.
Author Name : Sunil Hebbalkar
Blended fibers market revenue to exceed USD 57 billion by 2024 fueled by major product demand from the apparel and home furnishing sectors
The rising requirement for fabrics that are longer-lasting, need less maintenance, and are comfortable have chiefly propelled blended fibers market. It goes without saying that the apparel and home furnishing sectors are the key arenas driving blended fibers industry growth. As the population of millennials with disposable incomes is on a rise, coupled with consumer interest for luxurious lifestyles, it is estimated that blended fibers market size will exceed 18 million tons by 2024 in terms of volume.
North America Blended Fibers Market, By Application, 2016 & 2024, (Kilo tons)
Blended fibers market had first come to evolve with the idea of ‘blending’ fibers to yield a fabric with unique properties that is much more comfortable than the original and is less taxing to care for. In this regard, a blend of cotton and polyester is one such fabric that has gained mass prominence in this business space. In 2016, cotton/polyester based blended fibers industry size was valued at USD 7 billion. It is noteworthy to mention that cotton is a natural fiber that is comfortable to wear but wrinkles easily. On the other hand, polyester is a synthetic fiber that is not very comfortable to wear but when mixed with cotton keeps the fabric from wrinkling. Blended fibers industry outlook thus depends on the identifying a balanced amalgamation of fibers that complement each other to produce the perfect fabric. A nylon/wool blend is another popular fabric that drives blended fibers market share, as nylon is resilient while wool adds to the warmth and softness of the garment. This blend is deemed perfect for winter wear apparels owing to its enhanced durability and quick-drying quality, thus marking significance in blended fibers market.
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With the evolving fashion industry and the rising proportion of fashion consciousness consumers, it is important for the apparel industry to delve deeper in blended fibers market to brainstorm new mixed fabrics that will lend a certain charm and appeal to an ordinary piece of clothing. For instance, a draped cardigan made of a warm fabric like Merino can give the warmth of a cardigan but will not drape as beautifully as required. If the same cardigan is made of viscose it may be draped beautifully but will miss out on providing warmth. Ultimately, if a blended fabric like Merino Modal is used, i.e., 60% Merino and 40% Modal, the cardigan will have a beautiful drape while being essentially warm. Driven by appealing challenges such as the aforementioned, blended fibers market share from apparel applications is estimated to witness a CAGR of 3% over 2017-2024.
The home furnishing arena is another lucrative end-use domain of this business vertical. In 2016, 20% of the market valuation was attributed to the home furnishing industry. Rising urbanization, expanding real estate and easy access to home décor items made available through online portals like Amazon, Alibaba and eBay have thus provided a lucrative boost to the home furnishing domain, inherently fueling blended fibers market size.
Asia Pacific is one of pivotal regional markets for blended fibers industry. In fact, APAC market is forecast to surpass 9 billion tons by 2024, driven by the fact that several countries like China, India, Indonesia and Taiwan have expanded their apparel and home décor export base with a surge in demand of handcrafted products and government encouragement campaigns to boost indigenous production. Blended fibers industry has also been expanding in North America – estimates claim the continent to have contributed to 20% of the overall industry share in 2016. The introduction of nanotechnology as well as growing demands for new fabrics in the apparel and home furnishing industries has fueled North America industry trends.
The surging demand for better textile products with enhanced durability and a rather appealing visual appearance will drive blended fibers market. Blending expensive fibers with inexpensive ones offsets the production cost of the overall fabric as well, thus making the fabric more affordable and reliable. Growing economies comprising highly an urbanized, millennial population with disposable incomes will lead to a massive growth in the home furnishing and apparel sectors, thus directly stimulating blended fibers market size.
Author Name : Paroma Bhattacharya
FRP Rebars market to accrue maximum revenue via construction applications over 2016-2024, APAC to majorly drive the regional growth
Rising end-user preference for lightweight, anti-corrosive, non-abrasive, and robust reinforcements will upswing FRP Rebars Market development. Regional governments have been spending huge capital on construction & renovation activities. In addition, swift infrastructural developments to enhance the urban landscape and promote regional tourism will majorly boost FRP rebars industry trends. For instance, Japan invested more than USD 738 billion in construction projects in 2015, while China allotted funds of over 1.7 trillion for infrastructural growth during that year. According to Global Market Insights, Inc., “Fiber reinforced polymer (FRP) rebars industry, worth USD 590 million in 2015, is expected to hit a targeted revenue of over USD 1.25 billion by 2024.”
U.S. FRP Rebar Market Size, By Application, (USD Million), 2013-2024
FRP rebars find extensive applications in MRI rooms, bridges & buildings, marine structures & waterfronts, water treatment plants, and highways. FRP rebars market size in the marine structures & waterfronts sector is predicted to grow at a cumulative rate of more than 7% over the coming timeline. An increase in the number of projects for constructing waterfronts and ports near seas and rivers along with the development of waterways as an effective mode of goods transport facility will contribute toward the business expansion.
FRP rebars industry revenue across water treatment plants sector, which was estimated at more than USD 50 million in 2015, is expected to witness a high surge over the coming years. Rise in the number of desalination plant projects and surge in the waste & water treatment plant constructions will impel the segment growth.
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FRP rebars market share in MRI rooms sector is projected to record significant gains of more than 6.5% over the period from 2016 to 2024. Favorable features such as heat resistance, magnetic transparency, and electric resistance will boost the product demand.
Considering the geographical landscape, North America FRP rebars industry is anticipated to record a CAGR of more than 7% over the coming seven years. Escalated spending on building new structures along with beneficial legislations supporting infrastructure growth will enlarge the business scope across the region. U.S. FRP rebars industry, which contributed USD 270 million toward North America FRP rebars industry revenue in 2015, is expected to make notable contributions toward the regional share in the future. The country had spent more than USD 1 trillion on construction ventures during 2015.
Asia Pacific FRP rebars market is slated to grow at a rate of 8% over the years to come, owing to high product usage in the resistant edifice constructions along with the renovations of old structures. China, Japan, and India are likely to drive the regional revenue. MEA FRP rebars industry is projected to register an annual growth of 8.5% over 2016-2024, owing to strict regulatory compliances over the construction of new roads, railways, and airports as a result of growing safety concerns. Saudi Arabi and UAE are anticipated to be the major regional revenue pockets.
Europe FRP rebars industry is projected to record a CAGR of more than 6.5% over the coming seven years. Growing renovation activities across the commercial and residential sectors along with high product applications in MRI rooms, cable ducts, radio frequency field, and high-voltage substations are expected to boost the industry size. UK and Germany are predicted to push the regional development.
Glass fiber composites, carbon fiber composites, basalt fiber composites, and aramid fiber composites are the main FRP rebar products. Basalt fiber composites FRP rebars industry is expected to record a CAGR of 9% during the duration from 2016 to 2024, subject to exceptional product features such as magnetic transparency and rust resistance along with abundant product availability. Carbon fiber composites FRP rebars market is projected to grow at a rate of more than 8% over 2016-2024, driven by high product demand in floor slabs, bridge constructions, parapets, parking, ad decks & railings. Glass fiber composites FRP rebars market, which dominated the product landscape in 2015, is foreseen to witness notable gains over the years ahead. The growth can be ascribed to the product’s prolific use by the consumers as a perfect substitute for stainless steel & galvanized reinforcements.
FRP rebars are also used in various kinds of resins such as vinyl ester and polyester resins. Vinyl ester FRP rebars market is forecast to grow at a CAGR of more than 9% over the period of 2016-2024, due to the outstanding corrosion resisting and thermal insulating features of the product. Polyester resin FRP rebars industry, which collected a revenue of USD 460 million in 2015, is projected to witness a considerable development over the coming years. The business expansion can be attributed to the elevated product use as an adhesive in tarnished heritage structures along with its unique dimensional features and cost-effective nature.
Of late, industry players are employing key business growth strategies such as product development, pricing, and strategic partnerships to increase their market share. Fibrolux GmbH, Hughes Brothers Inc., Sireg Geotech Srl, Technobasalt Invest LLC, Marshall Composites Technologies, BP Composites Limited, Neuvokas Corporation, Pultrall Inc., and Composite Rebar Technologies Incorporation are the major participants of FRP rebars market.
Author Name : Dhananjay Punekar
Global Market Insights Inc. 