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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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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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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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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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Top 5 companies in the automotive coatings market will
continue to hold nearly two-fifth market share, with an average revenue range
of US$ 5Bn to US$ 8 Bn. This further implies a high consolidation of the
automotive coatings market at the brim.
The automotive coatings market continues to witness
significant transformation ranging from new material developments in the
vehicle production to higher popularity of traditional colors compared to “more
colorful” alternatives.
The automotive coatings market is expected to witness an
increase in volume sales of over 3,500 tons in 2018 over 2017, according to a
recent Fact.MR study. Refinish formulations continue to gain center stage in
the automotive
coatings market, while water-borne coatings are gaining increased focus
for basecoats.
Water borne automotive coatings have gained utter prominence
over the years of evolution, primarily driven by environmental and health
concerns of the solvent-borne automotive coatings.
The study estimates nearly 6 in 10 tons of automotive
coating sold worldwide in 2018 to be water-borne. However, demand for
waterborne coatings as primer surface layer is likely to witness decline in
tandem with increasing palpability of UV cure automotive coatings.
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UV cure variants, albeit accounting for minor share of the
market currently, have emerged as fast-selling automotive coatings and the
status quo is likely to prevail in 2018 and beyond.
Demand for solvent borne coatings is expected to remain
higher than solvent-borne coatings in 2018, despite concerns regarding their
environmental and health impacts. Preference for solvent borne automotive
coatings is primarily undergird by their relative superiority in retention of
pigments liquid and binding agents.
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The top 6
players in the oil refining pumps market account for nearly 45% share. With
diverse product portfolio, leading players in oil refining pumps market are
planning to consolidate their position globally. New product launches,
acquisitions.
The global demand for
oil refining pumps is expected to surpass 3 million tons by 2018 end,
according to a latest Fact.MR report on oil refining pumps market. Rising oil
and gas production, and increase in petroleum-based power generation are driving
oil refining pumps demand.
The oil
supply has sharply increased from Russia, Middle East, and the US, compensating
for fall in oil production in Iran and Venezuela.
The demand
for centrifugal pumps is constantly rising in upstream oil and gas industry in
multiphase or tri-phase pumping application. With the increasing demand for
oil, especially in developing regions, transporting a large amount of liquid
has become necessary to ensure operational efficiency.
This is
driving the demand for centrifugal pumps to transport a significant amount of
liquid in a short period.
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APAC to
Continue Strong Position in Oil Refining Pumps Market
The Fact.MR
study projects that APAC continues to register significant growth in the oil
refining pumps market and is likely to account for over 40% of total demand by
2018 end. The positive outlook in the region can be attributed to the growing
demand for diesel and gasoline in emerging nations like India and China.
The
upgradation of existing oil refineries and robust investment in the
construction of new oil refineries is fueling the growth in the oil refining
pumps market in the region. Rising oil demand and faced with strict emission
regulations, India is also moving towards development of new and modern
refineries.
According to
the International Energy Agency (IEA’s) latest World Outlook Projection,
India’s refining capacity is likely to grow by two-thirds in the next 25 years.
This is expected to make India world’s third largest refining center by 2040,
following the US and China.
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Leading
players in the power generation pumps market are primarily focusing on new
product development. Gaining competitive advantage and adding more value to the
existing product line, companies are developing new products to meet the
evolving need.
The power
generation pumps market is likely to witness steady growth, with global demand
expected to exceed 4 million units by the end of 2018. The growth
in the power generation pumps market is influenced by rising energy
demand, especially in the developing regions. Integration of new technologies
including sensors to monitor different parameters in the power generation pumps
is also on a rise.
Providing
high flow rate with a capacity of handling large quantities of fluids,
centrifugal pumps are widely used in the power generation plants. The demand
for centrifugal pumps is likely to be influenced by its various features, such
as small size and low costs.
Demand for
centrifugal pumps is expected to increase in the Asia Pacific region,
especially in China, India, and Japan. Rising demand for power supply and
favorable government policies are driving the demand for power generation
pumps.
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Power Generation Pumps to find Large
Application in Coal/Oil Power Plants
The demand
for power generation pumps is likely to grow significantly in coal/oil power
plants with demand expected to exceed 1.4 million units by 2018 end. The
development of new coal and oil power plants across various countries is
driving the power generation pumps market growth.
According to
the International Energy Agency (IEA), coal generation increased by 3% in 2017
after witnessing a fall in last two years. Substantial growth in coal
generation is seen in India and China. Moreover, with the share of around 30%,
coal-fired power generation remains the largest source of energy worldwide.
Efforts are
being made to improve the coal power plants design and power generation pumps to
boost efficiency and flexibility of the plants. The coal-fired power plants are
deploying efficient supercritical and ultra-supercritical coal power generation
technologies. Although southeast Asia is an important producer of coal, oil,
and gas, it is likely to face several challenges in the coming years, owing to
the increasing focus on power generation through green energy sources.
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Fact.MR has
recently compiled a study of the colloidal silica market, which sheds light on
a slew of factors that shape the market growth. Colloidal Silica Sales Growing
in Line with Quest for Effective Process Binders and Additives: Fact.MR Survey
Global sales of colloidal silicais estimated to surpass 403,700 tons through 2029, says the recently published report by Fact.MR. Increasing requirement for effective binders is estimated to load the dice in favor of liquid silicon dioxide applications across an umpteen number of applications, including coatings, electronics, construction, thereby creating sustained opportunities for the colloidal silica industry.
According to
the research study, electrical equipment & electronics industry will
continue to sustain high demand for colloidal silica, for the fact that
colloidal silica plays a critical role in producing flat and uniform water
surfaces during production of electronic & electrical devices.
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“Colloidal
silica also serves as a final polishing additive and a rough surface remover in
the electronics & electrical equipment space, thereby eliminating the
necessity of other steps of surface preparation.
Moreover,
adoption of colloidal silica will also continue to scale up in the construction
space, for the fact that colloidal silica holds the potential to breathe life
into durability and strength of concrete mixtures”, says the Fact.MR report.
Demand for
colloidal silica from coating applications is also registering a significant
uptick, owing to rising demand for reinforcing materials for paints and
coatings. Customer desire for multipurpose coatings with vigorous physical and
chemical properties is on a significant rise, which is further necessitating the
adoption of colloidal silica.
In addition,
growing fad for customized paints and coatings is also setting an optimistic
tone for adoption of colloidal silica in the coatings landscape, with global
sales estimated to surpass 114, 400 tons in 2019.
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The global
soft magnetic composites (SMCs) market has witnessed rapid growth at a CAGR of
6.4% over the past half-decade. However, due to the ongoing outbreak of
COVID-19, the electrical industry has put the brakes on production, cascading
the effect
Growing
automotive and electrical industry across the globe, especially in India and
China, has cascaded the demand growth of the global soft magnetic composites
(SMCs) market. Promising regions such as Europe, Japan, and North America too
have provided a platform for the growth of the global
soft magnetic composites market, owing to rapid growth of the mentioned
sectors.
Cost-effective
and compact electromagnetic components made out of novel SMCs are set to drive
demand over the next decade. Moreover, the soft magnetic composites market is
in its growing stage in a PLC curve, owing to frequent innovations by key
stakeholders and rapidly changing market dynamics.
As per
Fact.MR analysis, significant growth in demand for soft magnetic composites has
been witnessed over the past half-decade, and the market is set to expand at a
CAGR of 6.5% over the forecast period of 2020 to 2030.
Key Takeaways from Global Soft Magnetic
Composites Market Study
Asia Pacific
excluding Japan dominates the demand pie of soft magnetic composites with a
market share over more than 28% in 2019.
The silicon
ferrite segment is anticipated to gain around 311 BPS over the forecast period
of 2020-2030.
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The SMCs
market in Japan is set to expand at 6% CAGR over the forecast period, and is
evaluated to be among the promising regions providing absolute $ opportunity
for stakeholders.
The SMCs
markets in North America and Europe are set to inflate by more than 2X over the
forecast period, together accounting for more than 50% share of the global soft
magnetic composites market in 2020.
The ongoing
COVID-19 pandemic has led reduced industrial activities and disrupted supply
chains. Lockdowns across most countries have adversely affected the production
of soft magnetic composites.
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8 in 10 Pedelec Sales
Concentrated in Asia Pacific, China Continues to Spearhead Demand, Finds
Fact.MR
The pedelec market will surpass US$ 26 billion to record a
healthy 3.1% y-o-y in 2019, reveals the latest market report published by
Fact.MR. The study finds that consumer mindset inclined towards adopting
sustainable modes of transportation will provide a fillip to growth of the
pedelec market in the upcoming years.
The study thoroughly assesses growth parameters
of the pedelec market to provide actionable insights for market players
to plan salient business strategies for the coming future.
Some of the key
findings of the Fact.MR report on pedelec market include
Consumers becoming extremely conscious about the environment
and their physical fitness is auguring well for pedelec market players.
Pedelecs are proving to be a space-effective, cost-effective,
and faster way to commute in urban areas. This is expected to play a pivotal
role in developments in the pedelec market.
Recent technological advancements in batteries and fuel
cells are bringing in new varieties and improved efficiencies of electric motors
used in pedelecs, thereby, enabling pedelec market players to launch more
energy-efficient models.
Low awareness about the availability of pedelecs – electric
bikes that run on human energy as well as electric energy – is the primary
reason why cycling enthusiasts are refraining to shift from conventional cycles
to pedelecs.
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Stringent regulations being imposed on manufacturing and
marketing of pedelecs are exhorting manufacturers in the pedelec market to make
significant changes in their conventional business strategies. This may make it
challenging for pedelec market players to launch competitive prices of pedelecs
in the market.
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In-Transit Concrete Mixer Sales Surge in Line with Growing
Trend of Mobile Volumetric Mixers, finds Fact.MR study
According to a new study of Fact.MR, revenues from the
concrete mixer market were in excess of 126,800 units in 2018, and are
estimated to record a 4% Y-o-Y growth in 2019. Myriad factors influence dynamics of the
concrete mixer industry, which range from the customer requirement for
equipment with high technical standards and convenient portability, to
tightened environmental standards apropos of emissions and recycling of
materials.
The study opines that in-transit mixers remain the preferred
category among end-users, in light of their ability to both mix and transport
concrete around a construction site, particularly in case of remote locations
and sites that are far from concrete plants.
The deprivation of clotting, and prevention of concrete
balling effect, are key benefits associated with in-transit concrete mixers
that continue to sustain their sales. On the contrary, sales of trailer
concrete mixers are expected to remain low, tugged by their higher operating
and maintenance costs, along with relatively less efficient maneuverability.
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According to the study, a key trend complementing sales of
in-transit mixers is growing demand for mobile volumetric concrete mixers that
prevent concrete waste entailed by over-ordering.
The volumetric concrete mixers also enable efficient and
convenient trips to batch plants, saving on hot loads and various other
expenses, and cutting down time of operation. While precision continues to be
the key, user-friendly control options of these equipment will continue to
attract customer attention and drive sales.
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