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High speed steel contributes a broad application portfolio
with dedicated product offerings down the line, and experience high demand in
various end-use industries. The steel market is maneuvering forward as a driving
train for high speed steel.
Surging industrial demand and escalating applications of
high speed steel are kindling technological advancements and innovation in the
market. High speed steel (HSS) is deeply associated with the global steel
industry.
Swelling chains of steel exporters and importers are
consistently driving the market for high speed steel. Rigorous development and
expansion strategies adopted by manufacturers have led to notable growth
potential over time.
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Also, application has been dominated by high speed steel
cutting tools acquiring maximum market share. Extended product offerings with
high-end value addition are some remarkable strategies being adopted by
manufacturers to gain higher market share, where M grade high speed steel is
the most sought-after.
As per Fact.MR, the global high speed steel market is expected to progress at a healthy CAGR of close to 7% over the next ten years (2021 to 2031).
Key Takeaways from
Market Study
·
The global high speed steel market is
anticipated to add around 2X value by 2031 as compared to 2021.
·
Conventional high speed steel captures a
governing share of the market, and is set to create over US$ 1.4 Bn opportunity
over the long-run forecast period.
·
Cutting tools is the fastest growing segment
based on application, owing to wide application offerings.
·
North America is set to dominate market revenue
in 2021, but is expected to lose 272 BPS in its market share by 2031.
·
The manufacturing industry is anticipated to
gain around 549 BPS over the forecast period.
·
The United States, China, India, and Germany are
key countries governing demand for global high speed steel.
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“Cutting tools to
harvest high speed steel hidden endeavor,” says a Fact.MR analyst.
Fragmented High
Potential Market: Competition Tuning Factor
Key manufacturers of high speed steel are ERASTEEL,
Kennametal Inc., Voastalpine AG, Graphite India Ltd., NACHI-FUJIKOSHI CORP.,
Tiangong International Co. Ltd., ThyssenKrupp AG, Sandvik AB, Hitachi Metals
Ltd., and DAIDO STEEL. The market is partially fragmented with significant
number of players positioned in East Asia, Europe, and North America.
Growing demand for high speed steel in automobile and
construction applications has made the market valuation grow substantially over
the last decade. Despite being partially fragmented, higher potential of the
product will attract new players in the market.
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The global autonomous farm equipment market is projected to
expand at over 10% CAGR through 2031, and top a market valuation of US$ 150 Bn
by 2031. Incorporation of Artificial Intelligence (AI) has brought about drastic
changes in autonomous farm
Autonomous farm equipment manufacturers are thriving on the
adoption of cutting-edge technologies, while recovery of manufacturing units
from various constraints due to the COVID-19 pandemic remains key to demand
growth. With the adoption of advanced equipment such as unmanned aerial
vehicles (UAVs), drones, and autonomous tractors equipped with highly efficient
sensors and systems, stakeholders are projected to be highly benefitted in the
post-pandemic years.
The latest report on the autonomous
farm equipment market by Fact.MR thoroughly analysis the global
industry potential and growth scope with special emphasis on the demand-supply
trajectories in the United States, Germany, China, Japan, and a few others
lucrative countries for the forecast period of 2021 to 2031. As stated in the
report, recovery of the agriculture sector will be key for leading players,
while a flurry of inventions by manufacturers will play an important role in
raising industry value over the coming years.
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Key Takeaways from
Market Study
·
The global autonomous farm equipment market is
set to expand at over 10% CAGR through 2031
·
High demand for tractors and harvesters to fuel
sales of suppliers
·
Fully autonomous farm equipment to gain traction
·
The United States to lead in the world’s largest
autonomous farm equipment industry - North America
·
Germany to maintain its lead in Europe for farm
equipment
·
Asia Pacific to register fastest growth, with
its focal points in China and India
·
The United Kingdom, Canada, France, Japan,
Italy, and a few other countries to remain highly lucrative markets throughout
the forecast period
“Inclination towards
highly advanced technical equipment such as fully autonomous tractors,
harvesters, and UAVs is bringing major changes to the outlook of the autonomous
farm equipment industry, fuelling sales further,” says a Fact.MR analyst.
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How are Advancements
in the Agriculture Sector Boosting Sales of Autonomous Farm Equipment?
As the agriculture industry is gaining back its potential
after overcoming the restraining factors due to the COVID-19 pandemic,
requirement for advanced farm monitoring and management solutions is rising
again. As a result, autonomous farm equipment suppliers are witnessing high
demand owing to various exclusive features of such equipment, such as-
·
Fast & incessant operational capabilities
·
Precise and reliable services
·
Least impact of climate changes
·
Long-term resolution for heavy and complex
operations such as harvesting and plowing
According to a report titled “Performance of the
Agricultural Sector- Statistics Explained”, published by the European
Commission (EC), the European Union (EU)-27’s agricultural industry created
gross value added of EUR 176.4 billion in 2019, while agriculture contributed
1.3% to the EU-27’s Gross Domestic Product (GDP) in 2019. These figures capture
a glimpse of the growing opportunities for autonomous farm equipment
manufacturers, not only in Europe, but across the world.
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The global market for adiponitrile is expected to grow at a
moderate CAGR of 4.5% during the forecast period (2019 to 2029) to reach a
valuation of more than US$ 12 Bn.
The adiponitrile
market is growing at a CAGR of around 4.5% through 2029,
bolstered by a strong demand for polymer nylon 6-6, which finds widespread
applications in the production of commodities such as electro-insulation,
conveyor belts, and carpet fibers.
The adiponitrile market is also being supported by an upward
trajectory in the Asia Pacific region, owing to the easier availability of low
cost facilities for production.
The demand for nylon 6-6 is continuing to grow across United
States and Europe, owing to its use as a popular resin in engineering
applications.
This is particularly true in terms of the demand for tyre
cords from the global automotive segment, which is generating a number of
lucrative opportunities in the market for the near future. On the basis of this
trend, the sales of adiponitrile are expected to surpass US$ 12 Bn by the end
of 2029.
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into the Market, Request a Sample of this Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=4486
Key Takeaways of
Adiponitrile Market Study
Adiponitrile for nylon synthesis applications will hold
control over 85% of the global adiponitrile market with a growth of 1.4 x
through the forecast period, with a slower rate of growth.
Most end use applications for adiponitrile will be aimed
towards the production of automotive components and materials, which will
account for ~42% of the global market, necessitated by the high strength and
temperature requirements of components such as plug parts, radiator housing,
and hydraulic brakes.
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The recent study by Fact.MR on global pepsin market offers
an 8-year forecast between 2019 and 2027. The study analyzes crucial trends
that are currently determining the growth of global pepsin market.
Pepsin is a protein-degrading, or proteolytic, enzyme used
in a wide range of pharmaceutical, and food processing applications.
Though demand for pepsin from pharmaceutical industry is
seeing a spurt, recent past has witnessed high growth in pepsin for processing
of soy protein and gelatin, which is used in an array of applications such as
dairy, poultry and meat products. 1:10000 pepsin grade is forecast to be a
leading segment in the burgeoning applications of pepsin within these products,
reveals Fact.MR in a recently published report on the Global pepsin market.
As per the report, global pepsin market is forecast to surpass US$ 3.9 Bn by
2027 end, reflecting moderate growth of under 5% during the assessment period
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Key Takeaways of
Global Pepsin Market
Global pepsin market is forecast to create an absolute
opportunity of around US$ 1.1 Bn during the forecast period, adding 1.4X more
value as compared to 2019
Pepsin is primarily used as a pharmaceutical intermediate
for formulating digestive drugs, which is a dominant end use, accounting for
around half of the global market share
Use of pepsin as an enzymatic food additive, as a
replacement to rennin in the production of certain cheeses is trending, which
is forecast to propel demand growth of pepsin within the food industry
Liquid form of pepsin is the next growth epicenter in the
global market, which is poised to gain 732 BPS by 2027
Owing to wide application of 1:10,000 pepsin grade in
pharmaceutical & food industry it is the dominant grade of pepsin with
around 40% market share in 2019, however, demand for 1:15,000 grade pepsin is
forecast to be on a rapid growth trajectory during the forecast period
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Ethyl Polysilicate
Market to see Upward Growth, as Cross Linking Applications Capture 1/3rd
Share.global ethyl polysilicate market along with the historical data of 2013,
estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn)
The global
ethyl polysilicate market is projected to grow at a steady CAGR
of over 4% and is estimated to reach a valuation of over US$ 450 Mn by the end
of the forecast period (2019-2027).
Ethyl polysilicate is significantly used as a cross linking
component in cold-curing silicone rubber systems. The use of crosslinking
agents in the application of paints & coatings has increased due to the
high demand for crosslinking agents in water-based coating solutions.
Crosslinking in coatings enhances chemical resistance,
mechanical toughness and appearance. Industrial coatings with cross-linking
agents also enhance color and resistance to corrosion. This has led to
increased consumption of ethyl polysilicate thus maximizing margins of key
players in the ethyl polysilicate market.
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Key Takeaways of
Ethyl Polysilicate Market Study
According to Fact.MR, APAC is projected to hold one third
share in global ethyl polysilicate market and will continue to maintain its
reign in the long term forecast period
Europe is projected to consume more than 1/4th of global
ethyl polysilicate demand while China is anticipated to remain the key regional
cluster for manufacturers and accounts for more than 20% of global production
thus witnessing new growth avenues with emerging Chinese manufacturers in
Southeast Asia.
Ethyl polysilicate is highly used as a binder in paint and
emulsions manufacturing and is expected to grow at a CAGR of more than 3% owing
to its fast curing, high adhesion and high resistance towards UV radiations.
Further, it’s used as a hardening component in the foundry industry and
dentistry as an impression material.
Paints & coatings will drive the demand for ethyl
polysilicate , accounting for nearly half of the demand till 2027 and is set to
gain 1.2X value by the end of 2027
“Growing demand for high performance and protective coatings
across high potential markets is set to create substantial opportunities for
players and will escalate the demand for global ethyl polysilicate in paints
& coatings sector” says the Fact.MR analyst
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The global market for
lithopone is estimated to grow at a moderate CAGR of over 4% during the
forecast period (2019-2027) to reach a valuation of over US$ 250 Mn.
The global
lithopone market is projected to grow at a CAGR of over 4% and
is estimated to reach a valuation of over US$ 250 Mn by the end of the forecast
period (2019-2027).
In the past decade, inorganic pigment industry went through
significant developments. The market developed new application areas such as
plastics, building & construction and paints & coatings which created
new opportunities for growth of lithopone market.
Demand has remained moderate in western economies while APAC
countries are likely to witness above-average growth. High mechanical
performance and easier extrusion proliferates consumption of lithopone in
plastic and glass-reinforced plastic manufacturing.
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Many innovations and technical advancements are witnessing a
prolific increase in the usage of additives for high efficacy. This factor
increases consumption of lithopone in several new applications and will
positively impact the market growth in the near future.
Key Takeaways of
Lithopone Market
Rubber is the most important application of lithopone.
Rubber compounding remains significant area for lithopone consumption and the
segment is expected to grow at a CAGR of over 5%, says Fact.MR
According to the Fact.MR study, high mechanical performance
in plastic amps up the demand of lithopone in plastic manufacturing and the
plastic segment will experience growth of over 4% in the foreseeable future
Demand has remained stagnant in western countries, while
market has shown an increase in Asia-Pacific countries such as China, India,
South Korea, Taiwan and others Asia-Pacific is anticipated to experience
significant growth of over 5% in the long term forecast period.
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COVID-19 Outbreak to
Decelerate Demand for Chemical Mechanical Planarization (CMP) Slurries in
Short-Term, Advanced Technologies to Re-Ignite Growth through 2030, Concludes
Fact.MR
CMP Slurry market
is poised to witness two fold growth by the end of 2029, driven by its
expanding applications in consumer electronics. Efficacy to offer exceptional
planarization and minimal surface defectivity makes CMP slurries an ideal
ingredient in CMP (chemical mechanical polishing).
CMP slurries will continue their legacy with the emerging
need for new abrasives combined with advanced additives to maintain a steady
growth trajectory. This in turn will propel the CMP slurry market to grow at an
astounding CAGR of ~8% during the forecast period (2019-2029).
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Key Takeaways of CMP
Slurry Market:
Technological advances in semiconductor processing and
fabrication has led to the requirement for highly polished and abrasion free
components which will create a progressive environment for growth of the
market.
Advanced device architectures and technologies like 3D
FinFETs, 3D NANDs and 3D packaging will surge the demand for CMP slurries
during the assessment period.
Based on product, aluminum oxide is projected to surpass
market valuation over US $ 1470 Mn by the end of 2029
Cerium oxide is projected to register dominating growth rate
among other products and is anticipated to gain 147 BPS by the end of 2029
Silicon wafers are projected to remain a highly lucrative
application in forthcoming years, representing over half of the global revenue
share till 2029.
Advanced technologies and multilayers are set to offer
additional opportunities as well as new challenges in the market.
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In terms of revenue, Asia Pacific excluding Japan (APEJ)
will continue to dominate the global CMP slurry market throughout the forecast
period with a CAGR of ~8%
“Increasing necessity of tunable slurries with lower
defectivity and high oxide removal rate will augment the demand for CMP
slurries”, says the Fact.MR analyst.
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Light Tower Market to Expand 1.6X by 2030; Reduced
Construction Activities during COVID-19 Pandemic Impeding Market Growth
In recent years, increasing popularity of solar light towers
in North America and Europe has been significantly influencing the growth of
the light tower
market. Since 2017, oil prices have recovered to above US$ 70 per
barrel from the previous low of US$ 40 per barrel, and have shown signs of
steady improvement.
This, coupled with major production cuts from OPEC
countries, has made the oil & gas industry an under-supplied market,
creating even more demand for oil production. With increasing investments in
the oil & gas industry, demand for light towers is set to rise over the
coming years.
Installation of solar light towers and surge in the number
of end-use industry platforms are opening up new avenues for the light tower
market. According to a new Fact.MR study, the light tower market is poised to
expand at a value CAGR of nearly 5% and account for revenue worth US$ 2 Bn by
2030-end.
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Key Takeaways from Global
Light Tower Market Study
·
LED-based light towers are estimated to account
for 52% share of total market revenue in 2020, and gain 730 BPS in their market
share by 2030 over 2020.
·
Solar-powered light towers continue to influence
the growth strategies of market players, which are expected to contribute
revenue worth US$ 410 Mn in 2020 and US$ 700 Mn by 2030, progressing at a CAGR
of 5.5% during the forecast period.
·
The North America light tower market is
projected to hold a prominent share of the global market value, and is expected
to continue its dominance during the forecast period.
·
The light tower market in China is projected to
resister the highest growth rate in terms of value during the forecast period.
However, the Europe light tower market is slated to experience the slowest
growth rate.
·
The COVID-19 pandemic has resulted in decreased
construction activity around the world, which is affecting the demand for light
towers.
“Advancing construction industry and increasing number of
infrastructure projects by regional government will facilitate numerous growth
opportunities for players in the global light tower market,” says a Fact.MR
analyst.
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Acquisition of
Regional Players - Prime Strategy Key Players
Key players in the light tower market are focusing on the
acquisition of regional players to establish their global presence and ensure
quality of aftersales services provided to customers. For instance, in 2017,
Generac Holding Inc. announced the acquisition of Selmec Equipos Industriales,
S.A. de C.V., and its subsidiaries Enesa Energia, S.A. de C.V. and Enesa, S.A.
de C.V.
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Deere &
Co. – a leading American manufacturer of construction equipment – recently
entered a supplier partnership with Wacker Neuson – a German supplier and
distributor of construction equipment. The company aims to provide compact
excavators in Asia.
 by Size Class 2013 - 2026.jpg)
Fact.MR
recently published a comprehensive study on excavator market, which opines that
the excavator market will witness modest 3.2% volume y-o-y in 2019 over 2018.
The Fact.MR
study finds that the demand for excavator
will improve as the heavy construction equipment industry has been recovering
from a major slump. Owing to the positive growth of the construction industry,
especially in developing countries, excavator market is expected to witness
steadily increasing growth in the future.
Construction Industry Accounts for
over 70% Volume Share in Excavator Market
Excavators
are commonly used in a wide range of sectors including construction, mining,
agriculture, and forestry. However, according to the Fact.MR report, the
construction industry is expected to hold the largest volume share – approximately
72% -- by the end of 2019.
Manufacturers
in the excavator market are focusing on introducing performance features that
will suit the requirements of end-users from the construction industry to
capitalize on the increasing demand for excavators as a construction equipment.
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Excavator
market players are upgrading the design of excavators by incorporating advanced
technologies to offer improved efficiency, which can help end-users to increase
productivity and operators’ safety.
The Fact.MR
report finds that the sales of excavators as a construction machinery were
around 5.5x higher than its sales as a forestry & agricultural equipment in
2018. Higher demand for excavators in the construction industry is mainly
spurred by roads and highway projects, and the study remains bullish of the
potential rise in share of construction industry in global sales of excavators
in the coming future.
Apart from
its applications in the construction industry, excavators are also used in the
agriculture industry and mining industry, which have been contributing greatly
to growth of the excavator market.
Stringent
Environmental Regulations Create Challenges for Excavator Manufacturers
Despite
steady demand from construction industry, stringent environmental regulation
and high quality standards for conventional excavators continue to create
manufacturing challenges for market players.
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Information
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Office:
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The global piezoelectric motor market is poised to embark on
a modest growth trajectory, expanding at a CAGR of over 4% in the forecast
period (2020-2030). This is attributed to the growing trend of miniaturization
and greater focus on piezoelectric.
The global
piezoelectric motor market is projected to grow at a moderate rate of
over 4% between 2020 and 2030, says Fact.MR. Piezoelectric motor is utilized in
a wide array of applications such as photonics, manufacturing process control,
medical devices and meteorology.
Currently, most of the manufacturing industries like
automotive, optics & phonics, are shuttered due to the COVID-19 outbreak,
resulting in a downturn in piezoelectric motor sales.
However, rapidly evolving production processes like 3D printing
and advanced robotics are driving the need for motion control systems and
miniature devices, which in turn will boost the growth of the piezoelectric motors
market in the coming years.
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Application areas such as robotics and factory automation in
various industries have resulted in the high demand growth of piezoelectric
motors. The robotics and factory automation segment, combined, are estimated to
witness an absolute dollar opportunity of US$ ~27 Mn between 2020 and 2030.
Additionally, medical equipment and device manufacturers are
rapidly moving towards the adoption of piezoelectric motors vis-a-vis
electromagnetic motors. These include surgical devices, 3D scanners, MRI
compatible robotics, ultrasonic emitters, drug delivery devices, laser beam
steering, and devices used in dermatology, cosmetology, and ophthalmology.
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