Steel
Seismic reinforcement materials market to be driven by increasing infrastructural development
Seismic reinforcement materials market is poised to witness momentous growth over the ensuing years, primarily owing to the demand for seismic proof structures in earthquake-prone areas across the world. The product demand from a slew of end-users including residential, commercial, industrial, and infrastructural sectors will also support market growth. For the uninitiated, seismic reinforcement or seismic retrofitting is the process of making a structure more resistant to the severe consequences of an earthquake.
U.S. Seismic Reinforcement Materials Market By End-use Sector, 2014 – 2025 (USD Billion)
Increasing preference for earthquake resistant buildings will be a major driving force augmenting the product demand. Strong earthquakes are extremely dangerous and result in millions of casualties each year. Most earthquake deaths are results of structural failures. Seismic retrofitting of existing structures in earthquake-prone regions to make them more resistant to ground motion and soil failure will bolster global seismic reinforcement materials market in the coming years.
Earthquake is a natural phenomenon, but the amount of damage it causes can be a huge threat to a country’s economy. Especially for the industrial sector, natural disasters like earthquakes can destroy tangible assets like buildings and equipment along with human capital, bringing down production capacity. The vulnerability of industrial buildings due to their high exposure, needs to be protected through proper seismic retrofitting modifications. Owing to these factors commercial seismic reinforcement materials segment is likely to exhibit growth in the succeeding years.
The imposition of building codes is an effective way to ensure that people like engineers, contractors, and builders are inclined towards the construction of earthquake resistant structures. For instance, FEMA’s National Earthquake Hazards Reduction Program (NEHRP) recommends a set of seismic provisions for new and existing structures to reduce the fatalities and property losses caused by earthquakes. Such trends will further boost material demand, thereby augmenting seismic reinforcement materials market.
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The infrastructure development sector garnered immense proceeds in the past and is projected to retain its status in the industry over 2019-2025. This development can be attributed to the extensive use of seismic reinforcement materials in infrastructure projects such as bridges, flyovers, tunnels, etc. Increasing investment in infrastructural development projects will drive product demand. As per credible estimates, Asian Infrastructure Investment Bank (AIIB) has made plans to finance infrastructure projects worth $10 to $12 billion. Such investments could fuel the seismic reinforcement materials industry from the infrastructure development sector.
The bridges and flyover segment is slated to garner considerable growth over the coming years. Seismic retrofitting in bridges and flyovers helps reduce the intensity of the disaster, in addition to aiding rescue and relief operations. Rising urban congestion in emerging economies has accelerated the pace of development of bridges and flyovers, thereby elevating segmental growth for seismic reinforcement materials market.
North America seismic reinforcement materials market is anticipated to accrue appreciable gains in the global market in the coming years. In countries like the U.S, thousands of shocks of varying intensity occur every year and most of the coastal states are prone to earthquakes. Government grants like the Brace + Bolt program which provides homeowners grants up to $3,000 for seismic retrofits, will also boost product demand. The country houses one of the world’s largest construction industry, and increasing trend of building more earthquake resistant structures would upscale seismic reinforcement materials market share in the future.
An upturn in infrastructural activities in the Asia Pacific market will also drive the demand for seismic retrofitting. Rapid urbanization across countries like India, China, and other Asia Pacific nations will proliferate the need for major bridges, flyovers, airports, and other giant structures. The increasing deployment of advanced materials and construction equipment including seismic retrofitting materials in order to deal with regional geological vulnerabilities will boost market size in the Asia Pacific.
Seismic retrofitting of vulnerable structures is more than necessary; such modifications not only prevent property damage but protect the lives and assets of building occupants. Adherence to seismic retrofitting measures by various commercial and residential buildings, paired with favorable government regulations will continue to support product demand over the ensuing years.
According to a research report by Global Market Insights, Inc., the seismic reinforcement materials market is anticipated to be worth more than $40 billion by 2025.
Author Name : Krithika Krishnan
APAC automotive brake caliper market to amass hefty proceeds by 2024, increasing production of automobiles to drive the regional industry growth
Powered by the rapidly expanding automotive industry across myriad geographies, automotive brake caliper market has indeed gained tremendous popularity in recent times. The automotive sector is also rife with a plethora of highly unique innovations that have undeniably had an impact on this business sphere. Indeed, given the pivotal significance of braking systems, technological advancements form the crux of automotive brake caliper industry. Recently for example, Brembo unveiled an aesthetically revolutionary brake caliper at the 2018 NY Auto Show. Apparently, this product helped achieve substantial weight savings – around 400 g per wheel. Brembo’s product launch is indicative of the fact that automotive brake caliper market will continue to be characterized by highly innovative solutions that would optimize performance and improve aesthetics.
U.S. Automotive Brake Caliper Market, By Vehicle, 2016 & 2024, (Million Units)
The automotive industry has registered an extremely appreciable CAGR in the Asia Pacific region since the last decade or so. This growth can be essentially credited to the rise of the middle-class populace with increasing disposable incomes and a growing inclination toward leading a more comfortable lifestyle. Due to the presence of affordable and efficient production facilities and increased rate of automobile production, Asia Pacific automotive brake caliper market is poised to grow by 3% over 2017-2024. China, India, Japan, and South Korea are projected to be the major contributors toward this regional market, powered by the enhanced automotive manufacturing technologies now prevalent across these economies.
Speaking along similar lines, the increasing demand for automobiles among the middle-class consumers has led to a significant requirement of passenger carrying vehicles. For instance, in 2017 alone, 73.46 million units of PCVs were sold – a marked increase of 1.08 million units. Driven by the increased consumer spending and the subsequent rise in vehicle production, automotive brake caliper market size from PCVs is expected to increase by 3% over 2017-2024.
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While PCVs take the cake in terms of popularity, it is prudent to mention that two-wheelers are also being increasingly preferred lately, especially in the emerging economies. Two wheelers offer a means of cost effective transportation and are the preferred choice not only in congested cities but also in remote locations. This would perpetually augment automotive brake caliper industry outlook in the ensuing years.
Stringent safety and environmental policies have encouraged technological advancements in the automotive brake caliper market of late. For instance, the French auto manufacturer Bugatti has brought forth a unique innovation in automotive brake caliper industry with the use of 3D printing to print titanium brake calipers. Incidentally, 3D printing of brake calipers helps in reducing the overall weight of the vehicle while maintaining torsional stiffness – a highly sought-after parameter in the automotive industry today. Traditional aluminum alloy brake calipers on Bugatti vehicles weigh 4.9 kg each, however, 3D printing of brake calipers makes each caliper weigh just 2.9 kg, which goes a long way in reducing overall vehicle weight and meeting environmental regulations.
Though 3D printing of brake calipers has not yet become a mainstream procedure owing to the time-consuming nature of the process, the concept has gained sufficient traction. Other methodologies for the reduction of caliper mass, improved styling and performance maintenance are also being researched currently to reduce particulates and carbon emission in the atmosphere.
The emergence of electric vehicles and hybrids is expected to add a new vertical to automotive brake caliper industry, as these vehicles will invariably use a whole new braking system that has little resemblance with the conventional braking system. With the introduction of the Tesla Model 3, electric passenger cars are poised to become the dominant trend for the future. It is rather overt that such cars are being designed to have only one paddle for moving or stopping the vehicle. While the brake system will not be made entirely obsolete, it is certain to undergo some highly innovative changes, that would certainly have an influence on automotive brake caliper market outlook.
Research & development programs are rampant across the automotive industry of late and are likely to majorly transform automotive brake caliper market trends. With the robust growth of automated technologies and the increasing requirement for better mobility, automakers are leaving no stone unturned to bring forth newer and enhanced brake systems. In consequence, this would have a commendable impact on automotive brake caliper market size, anticipated to cross $25 billion by 2024.
Author Name : Paroma Bhattacharya
Fluorspar market to regain its position with an estimated valuation of USD 4 billion by 2024, significant investments in fluorspar mine capacity expansion to stimulate the competitive landscape
Global fluorspar market has been one of the most debatable business spaces of recent times with regards to its extensive utilization in hydrofluoric acid and fluorocarbons production. This is perhaps due to the fact that fluorspar mining has been open to question many a time by international regulatory bodies on grounds of its environmental concerns during blasting process. Nonetheless, subject to the materials’ extensive application across a plethora of lucrative domains, such as aluminum and steel production, fluorspar industry has gained an appreciable popularity over the years. Bearing a testimony to the declaration is the past year valuation of the business space which depicts global fluorspar industry share to have garnered a revenue of USD 2 billion in 2016. Fluorspar mining, for the records, began in the year `1920, and since then the mineral has been recognized as one of the most versatile materials that can widely deployed for a variety of ceramic, metallurgical, and chemical process.
U.S. Fluorspar Market Size, by Application, 2013 – 2024 (USD Million)
In this regard, it is imperative to mention that fluorspar industry has been witnessing a flux since a while now. Falling price trends of fluorochemicals along with soft demand for fluorspar are threatening new entrants in the competitive landscape, while some of the low-cost suppliers are striving hard to beat the market odds. Amidst this dynamically charged share battle, fluorspar mining activities across the globe had been a little backfooted for quite a prolonged period. However, technological advancements in the manufacturing processes in tandem with changing faces of end-use sectors has somewhat upscaled the mineral demand. This is evident from the significant attempts taken by the fluorspar market giants to expand the capacity of existing fluorspar mines.
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Unveiling two of the recent projects in global fluorspar marketplace:
- Afghanistan’s sole fluorspar deposit, the Bakhud deposit, has made it to the headlines with the announcement of its decision of tripling the capacity within next six months, in bid to improve the volatile fluorspar market condition. For the records, the mining giant is set to expand the fluorspar capacity by 122,500 tonnes per year once fully operational. Established in the year 2010, the company currently has a production capacity of 60,000 tpy with a production volume of 3,000 to 5,000 tonnes per month. In effect of this project, the Bakhud deposit would be producing 500 tonnes/ day, with a total capacity of almost 182,500 tpy.
- South Africa is also gearing up and as per experts’ opinion, would prove to be a strong contender in the global business space over the ensuing years. South Africa is claimed to have world’s largest fluorspar reserves, and Europe holds a major chunk of the regional export market with regards to production of aluminum fluoride and hydrogen fluoride beneficiation. Reportedly, the country is presently creating a whole hog on the new fluorspar mine by Nokeng Fluorspar Mine Ltd, the fully owned subsidiary of Sep Located at the north east of Pretoria, this R 1.7 billion mine project by the fluorspar market giant is reported to be the largest of its kind when compared to other investments around the world. Following the past success of Nokeng Fluorspar Mine’s breakthrough project at Gauteng province, the company now aims to vertically integrate in the supply value chain of fluorspar industry.
Detrimental environmental impact of chlorofluorocarbons, which is one of the most frequently used cooling fluids in air conditioners and refrigerators, is deemed to be a major hindrance to fluorspar market expansion. CFCs pose a great threat to atmospheric ozone layer by speeding up the breakdown process, which ultimately allow maximum of the UV rays to hit the earth’s surface. Prolonged exposure to ultraviolet rays is very harmful for human health and sometimes even claimed to be the root cause for cancer and mutation. This has led to banning of CFC across major nations, leaving a parallel impact on the regional fluorspar market size. Nonetheless, fluorspar is a valuable commodity and its contribution in the production of aluminum and steel is unrivaled. Since steel and aluminum are closely linked to a variety of remunerative business verticals, automotive sector in particular, expansive growth in these domains would overtly enable fluorspar market to revamp its position in the global landscape. In terms of commercialization, fluorspar industry is slated to exceed a valuation of USD 4 billion by 2024.
Author Name : Satarupa De
uPVC Indian doors market to gain remarkable proceeds over 2017-2024, Maharashtra to drive the regional landscape
The profitability quotient of Indian doors market is certain to escalate in the coming years, augmented by the thriving construction sector across the country. Driven by a plethora of factors such as growing Indian population demanding comfortable lifestyles, increasing public and private spending on refurbishment & construction activities, and encouraging governmental initiations toward infrastructural development, Indian doors industry size is expected to widen its horizon in the forthcoming years. In fact, estimates claim, private equity sector investment in real estate in India was over USD 6 billion in 2016. As per a recent report put forth by IBEF (India Brand Equity Foundation), Indian real estate market is slated to record a massive valuation of USD 180 billion by 2020, another testament deemed to stimulate Indian doors industry trends in the coming years.
Maharashtra Doors Market Size, By Product, 2016 & 2024 (Thousand Units)
Over the past few years, there has been a significant transformation in consumers’ buying preferences with regards to artistic and aesthetics quotient, a factor that has brought innumerable innovations in door quality and texture. In this regard, it is prudent to mention that uPVC doors are creating a storm in the Indian doors industry, subject to their unique advantages such as better insulation, energy efficiency, thermal insulation, diversified color options, and minimum maintenance requirement. In fact, uPVC Indian doors market is expected to witness a y-o-y growth of 8% over 2017-2024. In addition to this, leading giants of Indian doors market are also investing in enhancing their product portfolio that not only claims technological incorporations but also are environmentally viable.
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KONE is considered as one of the forerunners in bringing eco-friendly to the Indian doors industry. The company offers a full range of industrial doors, loading bays, barriers, shutters for commercial and residential housing complexes. Reliable operation, durability, safety, and most importantly environmental competencies are some of the fortes that make KONE a renowned player in the Indian doors market. Some of the other renowned players in this space include Fenesta Building Systems, DORMA, Century, D. S. India, Duroplast Extrusions, Geeta Aluminum Company, Beautex, Kalco Alu-systems, Mahavir Aluminum, Sapa Building System, Reynaers Aluminum and Welltech Systems.
Speaking of geographical aspects, West Bengal, Delhi, and Maharashtra are some of the states where the industry observes quite profound growth. In fact, estimates claim that Maharashtra alone accounted for 12% of the overall Indian doors market share, having held a revenue of USD 180 million in the year 2016. Strong pipeline of construction projects across residential, commercial, as well as industrial sectors has propelled the product demand in Maharashtra. A crucial determinant that needs to be mentioned here- the state is the second most populous region of the country, a factor that has enabled it to be strong contributor toward the overall Indian doors industry share. Another statistic that can be placed as a testament regarding the increasing refurbishment and maintenance activities in Maharashtra- as per the National population and housing survey of 2011, out of 3.36 crore registered houses in India, 2.98 crore were in Maharashtra. Taking into account these aforementioned aspects, Maharashtra is expected to continue to stand as a strong contender in the Indian doors market.
With the escalating construction space along and supportive government initiations toward manufacturing eco-friendly, fire resistant, weather proof doors for commercial and residential sectors, it is certain that Indian doors industry is all set to carve a lucrative path in the years ahead. Experts believes that in the coming period, the business space will witness an influx of even more sustainable energy efficient doors. Having held a valuation of USD 1.2 billion in 2016, Global Market Insights Inc., forecasts Indian doors market size to exceed USD 2,800 million by 2024.
Author Name : Satarupa De
Global automotive wheel market to register itself in the much-coveted 100-billion-dollar business space by 2024, shifting trends toward lightweight vehicles to boost the product demand
The escalating development of global automotive sector will generate lucrative growth avenues for automotive wheel market. Automobile producers have been adopting new manufacturing techniques to comply with emission control regulatory norms. Researchers have also been implementing novel product designs and improvised concepts to increase the fuel efficiency of vehicles, which in turn, will boost automotive wheel industry size. Rising spending capabilities of consumers across the globe is also fueling the product demand. Of late, consumers have been prioritizing comfort, durability, and product design, which will provide a significant impetus to global automotive wheel industry. In fact, estimates claim automotive wheel market to surpass USD 100 billion in terms of revenue by the end of the year 2024.
U.S. Automotive Wheel Market, By Material, 2017 & 2024 (USD Million)
Major automotive manufacturers across North America and Europe are treading towards the production of lightweight vehicles, owing to the increasing concerns over environmental pollution. Aluminum is one of many materials that is used to construct these light weight vehicles, and has also been gaining popularity pertaining to the benefits it provides such as low weight, improved design, and excellent performance. The aluminum-based automotive wheel market will also experience commendable growth in the ensuing years pertaining to enhanced car handling and riding comfort, in tandem with the reduction of unsprung mass.
Surging innovations in product design has generated lucrative opportunities for various OEMs to penetrate automotive wheel market. In fact, OEMs dominated the automotive wheel market in 2017 and the segment is anticipated to retain its dominant position over 2018-2024 as well. The growth in the demand for OEMs in this industry can be appropriately credited to the extended durability, robust performance irrespective of weather, and reduced replacement rates.
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It is prudent to mention that OEMs have also benefitted from supportive manufacturing policies implemented by numerous Asian countries. The Asian zone, as a matter of fact, is anticipated to garner substantial returns in automotive wheel market, particularly on account of the expanding automotive industry in the region and the extensive automobile production across the economies of China and India. Indeed, APAC is known to have been a dominant regional contender and is expected to continue its leadership streak in the global automotive wheel market over 2018-2024. The regional growth can also be credited to the hefty demand for aluminum wheels in passenger cars in tandem with the requirement for aftermarket customization.
Rapid urbanization trends across the globe have changed the consumer standards of living, on account of which consumers across the globe have been giving preferences to passenger cars. Driven by rising passenger cars sales subject to increasing disposable income and high demand for mobility, automotive wheel industry size from passenger cars is likely to depict an incline in the years ahead. In 2018 alone, the European Automobile Manufacturers’ Association (ACEA) observed registrations of about 12 million passenger cars, with a growth rate of 2.5% between January-September 2018. Even in China, in 2016, passenger car production was recorded at more than 24 million units. It is thus rather overt from these statistics that the commercialization scale of the global automotive wheel market will experience quite an upsurge from the worldwide demand and supply of passenger cars alone.
OEMs, in recent times, have been making strategic agreements with suppliers to expand the business space. Innovations in product design and manufacturing processes will create numerous growth opportunities for industry players in automotive wheel market. Mergers & acquisitions and joint ventures will continue to remain the key growth strategies that major companies will adopt, in order to stay ahead of their rivals in automotive wheel market.
Author Name : Saipriya Iyer
Offshore wind energy market to witness massive gains in China and UK over 2018-2024
The global offshore wind energy market has been ablaze with a number of projects that have lately commenced power production. Recently, for instance, following the installation of its first 7 MW turbines, Scotland’s biggest offshore wind farm has sent power to the National Grid for the first time towards the end of July 2018. The whole project is scheduled for completion by spring of 2019, and is expected to generate enough power to supply the equivalent of 450,000 households.
The Race Bank offshore wind farm in the U.K. and reportedly the fifth-largest windfarm on the planet has also officially opened recently in the month of June. This 91-turbine facility is expected to produce 573 megawatts (MW) of electricity and is capable of powering more than half a million homes every year.
Global Offshore Wind Market, By Region, 2016 (Cumulative Capex, USD Billion)
Considering the above-mentioned instances, there is no doubt that the fledging offshore wind energy industry is finally reaching maturity, promising gigawatts of reliable and clean energy and billions in economic and investment opportunities. In fact, wind is touted as one of the fastest-growing renewable energy sources in the world and has become a viable electricity generating source in more than 80 countries worldwide. Analysts deem that the developments in technology have paved the way for more reliable and effective equipment and machinery, which has resulted in the growth of the global offshore wind energy market.
China to emerge as one of the world’s largest offshore wind energy markets
Quietly surpassing the U.S., China’s wind energy market had emerged as one of the largest in the world in 2010. From being a mere player in 2001, the country, on the basis of strong government support and investments, has transformed its position as a market leader. As per reports, China had an installed offshore wind capacity of more than 1.6 GW in 2016. As a part of its five-year plan, the country plans to have 5 GW grid-connected by 2020. In fact, China is on a target to install 13 GW over 2017-2026, bringing its total capacity to nearly ten times as of its level in 2017.
Furthermore, in order to increase rural electrification and lower its carbon footprint, China is expected to continue to promote wind power, in turn stimulating the regional offshore wind energy industry. The country in 2016 outpaced Denmark and secured a third place in the global offshore wind energy rankings with the UK and Germany holding the top two positions.
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Accounting for over one-third of the total European offshore wind potential, the UK offshore wind energy market is another potential hotspot for wind developments. The region constitutes the world’s largest offshore wind farm – London Array, producing 630 MW of clean electricity that is enough to power more than half a million of homes a year. The 500 MW Greater Gabbard offshore wind farm, touted as the second largest offshore wind farm in terms of installed capacity, is also located in the UK.
Ørsted, a renowned Denmark based energy firm, has recently announced that the construction has begun on an even bigger wind farm, officially called as Hornsea Project One, which is slated to be operational by 2020. Upon completion, this plant will be capable of supplying clean energy to more than 1 million homes. Quiet overtly, such robust investments in the UK & Germany offshore wind energy market has impelled Europe to contribute substantially to the global offshore wind power, while simultaneously establishing itself as a lucrative hub for investments. Reportedly, the UK offshore wind energy market was worth more than USD 8 Billion in 2017.
Analyzing these regional trends, it would not be wrong to quote that China, U.S., UK, Germany, Taiwan, and the Netherlands are the biggest offshore wind energy market in the world, with number of current projects both under construction and planning phase.
Offshore wind energy industry is further gaining exceptional traction from the tech behemoths showing their interests in harnessing clean energy. Microsoft, for instance, has recently signed an agreement with GE to purchase electricity from its wind farm and power its cloud data centers in Ireland. The Silicon Valley bigshots Apple & Facebook are already in this league harnessing clean power and pledging its operations to be 100% from the renewable energy sources. Moreover, Google in the year 2010 has also thrown its financial clout behind new wind farms off the U.S East Coast.
This changing competitive scenario is further likely to enrich the growth dynamics of global offshore wind energy market in the coming years. A presumption standing as a substantiation to the same is of Global Market Insights, Inc., that claims the global offshore wind energy market to surpass USD 60 billion by 2024.
Author Name :Ojaswita Kutepatil
Global Market Insights Inc. 