LNG Market Demand To Reach 560.19 Million Tons By 2027

The global liquefied natural gas market demand is expected to reach 560.19 million tons by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% from 2020 to 2027. Growing focus on expansion and development of gas pipeline infrastructure and rising demand for NG across downstream industries are the main propelling factors for the liquefied natural gas (LNG) market.

Decline in liquefied natural gas prices, along with implementation of supportable government regulations and guidelines, which are attracting tax schemes and FDIs, is also beneficial for the market growth. Collective prominence of adequate support for infrastructure in various countries is projected to augment product demand across the construction segment as the product is being used for building equipment.

However, inadequate infrastructure is augmenting demand for small-scale projects to source NG for key customers located in remote areas, precisely in the industrial manufacturing and power generating verticals. Rapid industrialization, urbanization, and projects supportive of gas and petrochemicals and power distribution are likely to provide a stimulus to the market growth.

Power generation accounted for the largest volume share in 2019 and is anticipated to witness significant growth from 2020 to 2027. Power generation plants are steadily shifting from other feedstock to liquefied natural gas in order to offer enhanced delivery and cost-competitiveness while getting support in the form of promising regulations that are encouraging the trends.

Asia Pacific remains the chief center of demand and altogether it accounted for over 50% of the global liquefied natural gas imports in 2018. 2019 was recorded as the year of low price and was driven by growing NG production, limited demand response, and the commissioning of new export infrastructure across the APAC market.

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Further key findings from the report suggest:

Asia Pacific is projected to grow at a substantial rate throughout the forecast period. India is expected to witness the fastest growth in the Asia Pacific region
By application, the power generation segment dominated the industry, accounting for 47.1% share of the total volume in 2019
North America is likely to witness moderate growth during the projected period.

Flywheel Energy Storage Systems Market Worth $552.1 Million By 2027

The global flywheel energy storage system market size is expected to reach USD 552.1 million by 2027, escalating at a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for energy storage systems across various industries along with the implementation of favorable regulatory policies regarding clean power generation and reducing dependence on fossil-fuel based power sources is likely to drive the market over the forecast period.

Flywheel serves as a reliable energy storage solution in developing areas with less reliable grid infrastructure and high electricity costs, and in island areas where grids are reliant on biofuels and diesel generators. In these remote areas, flywheel storage is set up in integration with renewable wind and solar power, thereby combating the intermittent nature of renewable power while providing a continuous power supply to the grid or other facilities.

The technology offers several advantages over batteries to store energy. Some of the advantages include unlimited daily cycling capacity, no chemical reaction, zero capacity degradation, and high round-trip efficiency. However, parameters such as high cost and short duration of flywheel power are among the critical factors expected to hamper market growth over the forecast period.

Industry participants are heavily investing in research and development activities in order to find a solution to the high maintenance cost incurred by technology. Manufacturers are focusing on optimizing the geometry and metallurgical properties of flywheel rotor including the chemical composition and processing refinement of low-carbon steel alloy. Moreover, large market players are tying up with small regional companies in order to enhance their foothold in the market globally.

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https://www.grandviewresearch.com/industry-analysis/flywheel-energy-storage-market

Further key findings from the report suggest:

Others segment occupied the largest market share in 2019 in terms of revenue. Flywheel energy storage providing frequency regulation in grid balancing operations is set to be driving the market across this segment
The distributed energy generation segment is anticipated to be the fastest-growing application segment owing to the rising demand for isolated grids across remote communities and remote industrial operations
The data centers segment occupied a significant market share and is projected to witness a high growth rate over the forecast period. This growth can be attributed to the large number of IT companies deploying the technology at their massive data centers
North America accounted for the largest regional market share in terms of revenue, owing to the growing number of projects to reserve power across the region, mainly the U.S.
In Asia Pacific, the market is expected to witness significant CAGR over the forecast period owing to the growing demand for continuous power supply along with government efforts to supply clean power across end-use markets.

Marine Grease Market Size Worth $348.4 Million By 2025

The global marine grease market size is expected to reach USD 348.4 million by 2025, expanding at a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Increasing demand from the various end-use segments is a key factor driving the growth. The robust growth from shipping industry in Asia Pacific is expected to boost the market further over the forecast period.

Marine grease is a semi-solid substance, used in various vessels such as bulk carrier ships, cargo ships, tankers, passenger vessels as it provides enhanced lubrication under salty water conditions. In addition, it has numerous applications in high temperature and pressure conditions. The market is mainly driven by the demand for the bulk carriers and cargo vessels, as they are exposed to the complex operating environment during transportation of industrial and consumer goods.

In terms of revenue, lithium complex thickener accounted as the largest segment in 2016 and is anticipated to continue its trends with a growth rate of 4.7% over the forecast period. Increasing need for environmentally compatible and multi-purpose grease are the factors anticipated to propel the growth.

The demand is expected to surge owing to the development of new ports in the Asia Pacific region. Different grades as classified by the National Lubricating Grease Institute (NLGI) are used in various end-use areas as they provide the required properties such as resistance to water wash out, and corrosion prevention. Various types of NLGI graded greases are available to cater the requirement of the different types of vessels.

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https://www.grandviewresearch.com/industry-analysis/marine-grease-market

Further key findings from the report suggest:

Lithium complex based thickener segment is expected to experience fastest growth in terms of value at a CAGR of 4.7% from 2017 to 2025 due to its property to serve as multipurpose grease
Bulk carrier & cargo ships are expected to continue its dominance as the largest end-use segment in terms of revenue and is anticipated to reach USD 150.9 million by 2025. Rising purchasing power parity among emerging economies is expected to boost the growth of operation and maintenance of passenger ship segment which in-turn would boost the marine grease, expanding at a CAGR of 5.2% between the period from 2017 to 2025
Asia Pacific marine grease market was valued at USD 88.2 million in 2016 and is projected to reach USD 139.8 million by 2025. Asia Pacific is expected to experience a surge in demand over the next eight years owing to new ports constructed in this region. In terms of revenue, the regional market is expected to grow at a CAGR of 5.3% between 2017 to 2025
Key players including ExxonMobil Corporation, Chevron Lubricants, Shell Plc, Total Lubmarine, Lukoil Marine, Gulf Oil Marine, Penrite Oil are expected to hold significant share in the global market

Polybutadiene Market Size Worth $5.83 Billion By 2025

The global polybutadiene market is expected to reach USD 5.83 billion by 2025, according to a new report by Grand View Research, Inc. The rising demand for synthetic rubber in automobile tire manufacture is expected to boost market growth for polybutadiene.

The high demand for polybutadiene can be attributed to properties such as abrasion resistance, high resilience and cut growth resistance. It is used in combination with other rubbers for the manufacture of tires, industrial products, and consumer products. Tire manufacturing is the major application segment in the market. Manufacturers are also exploring downstream potential as the price of polybutadiene in these applications is more stable.

The demand is high in Asia Pacific owing to the presence of a robust application industry. The presence of companies such as JSR Corporation and Reliance Industries Ltd. is driving market growth in this region.

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http://www.grandviewresearch.com/industry-analysis/polybutadiene-market

Further key findings from the report suggest:

High cis derivative is expected to be the fastest growing product segment registering a CAGR of 4.7% from 2017 to 2025 owing to increased demand from tire manufacturing industry
Polymer modification application is projected to grow at a CAGR of 4.1% from 2017 to 2025 due to increased demand for modified polymers and golf balls
North America accounted for 22.4% of the polybutadiene market in 2016 courtesy presence of major tire manufacturers including Goodyear, Cooper Tires and Pro-line
The demand in Middle East & Africa is expected to witness below average growth rates on account of price volatility as a result of reduced crude oil production
Manufacturers have now switched from nickel-butadiene rubber facility to neodymium-rubber facility due to increased demand for high cis derivatives used in the manufacture of high performance tires
In 2014, Trinseo converted its Nickel Butadiene Rubber (Ni-BR) production facility in Schkopau, Germany, to Neodymium Butadiene Rubber (Nd-BR)

Polyvinyl Chloride Market Size Worth $79.11 Billion By 2020

The global polyvinyl chloride market size is expected to reach USD 79.11 billion by 2020, according to a new study by Grand View Research, Inc. Increasing construction and infrastructure spending in emerging markets of Asia Pacific and Latin America is expected to remain a key driving factor for global polyvinyl chloride (PVC) demand. In addition, growth of global automotive industry is also expected to have a positive influence on the market. Volatile raw material prices coupled with the stringent regulatory scenario, particularly in North America and Europe to limit or minimize PVC use for medical applications are expected to remain key challenges for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based alternatives to PVC which is expected to provide future opportunities for market participants.

Construction emerged as the leading application segment and accounted for 55.7% of the total market volume in 2013. Increasing construction spending in BRICS nations on account of organization of global events such as FIFA World Cup and Summer Olympics in these nations is expected to drive the demand for PVC in construction industry. Electrical & electronics is expected to be the fastest growing application segment at an estimated CAGR of 5.4% from 2014 to 2020. Growth of Chinese and Taiwanese electronics industry is expected to spur growth for PVC in electrical & electronics industry.

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http://www.grandviewresearch.com/industry-analysis/polyvinyl-chloride-pvc-market

Further key findings from the study suggest:

Global PVC demand was 38.50 million tons in 2013 and is expected to reach 53.81 million tons by 2020, growing at a CAGR of 5.0% from 2014 to 2020.
Asia Pacific emerged as the leading regional market for PVC and accounted for 58.1% of total market volume in 2013. Growth of construction industry, particularly in China, India and Indonesia is expected to drive PVC demand in the region.
Middle East & Africa is expected to be the fastest growing region for polyvinyl chloride market at an estimated CAGR of 5.9% from 2014 to 2020. Growth of major end-use industries such as construction, automotive and electrical & electronics in Saudi Arabia and South Africa is expected to drive the demand for PVC in this region.
Some of the major companies in operating in the global PVC market include Shin-Etsu Chemical Co. Ltd., Formosa Plastics Group, Axiall Corporation, Mexichem S.A.B., BASF, Georgia Gulf Corp., Arkema S.A., and Westlake Chemica Corp, Sinopec Group, Solvay S.A., KEM One and Xinjiang Zhongtai Chemical Co. Ltd.

Structural Foam Market Size Worth $42.2 Billion By 2025

The global structural foam market size is expected to reach USD 42.2 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 5.8%CAGR owing to Increasing infrastructure spending, particularly on residential & commercial buildings, has been a key factor driving the market growth. Moreover, the rising demand from material handling, automobile, and electrical & electronics, is also likely to contribute to the product demand over the forecast period.

Increasing construction spending, particularly in emerging markets of Brazil, China, India, Mexico, Russia, and South Africa is expected to drive injection molded structural foam demand in these regions. Besides, positive outlook of the global automotive and packaging industries coupled with versatile properties of structural foams including better heat and pressure resistance increases their application scope in various industries.

However, volatility in prices of essential raw materials along with the growing environmental issues concerning their disposal is anticipated to hamper the market growth during the forecast period. On account of these concerns, many of the industry participants are aiming to develop bio-based foams using the injection molding technique.

Key market players such as SABIC, One Plastic Group, and Covestro AG are among the companies involved in the production and distribution of the products and have established themselves as key market participants and have high integration throughout the value chain.

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http://www.grandviewresearch.com/industry-analysis/structural-foam-market

Further key findings from the report suggest:

The global structural foam demand was 4,059.0 kilo tons in 2016 and is projected to grow at a CAGR of 5.3% from 2017 to 2025
Polyethylene foam segment was the largest product segment in 2016 and is expected to generate revenue over USD 15.62 billion by 2025
Global structural foam in automotive segment was valued at USD 6.81 billion in 2016 and is projected to witness a growth at a CAGR of 6.2% over the forecast period
The U.S. structural foam market in building & construction was 518.8 kilo tons in 2016 and is likely to reach an overall volume of 851.6 tons by 2025
The market in Asia Pacific is anticipated to witness considerable growth over the next few years owing to various advances across key regions, especially in the India and China. In terms of revenue, the regional market is likely to grow at a CAGR of 6.4% from 2017 to 2025
Key market participants include Armacell International S.A., BASF, Diab International AB, The Dow Chemical Company, SABIC, One Plastic Group, Covestro AG, Evonik Industries and others.

Household Slicer Market Worth $475.2 Million By 2027

The global household slicer market size is expected to reach USD 475.2 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% from 2020 to 2027. The growing trend of cooking as a hobby among younger millennials is driving the product demand. Consumers are cooking at home often due to the easy availability of recipes online and focusing on adopting a healthier lifestyle. In order to increase their market share, companies are focusing on social media marketing and increasing the supply of products in the market via home improvement centers and e-retailers.

Before the outbreak of COVID-19, salaried professionals and working couples in metro cities and large towns preferred eating out or ordering from nearby food outlets. But individuals had to resort to homemade food over the past six months. An increasing number of people have taken to social media platforms to discover new recipes and post pictures and videos of the food prepared. This has driven consumers to switch from regular cookware and kitchen utensils to more advanced tools that not only have better functions but are also aesthetically appealing.

The rising popularity of modular kitchens has resulted in higher instances of kitchen remodeling, thereby propelling the demand for cooking equipment and tools, such as slicers. Consumers are also increasing their expenditure on kitchen tools as open kitchens are trending and ambiance has become a focal point of social gatherings.

The growing trend of house parties in western countries has resulted in consumers investing in cooking equipment, such as household slicers, in order to be well-equipped while preparing dishes. Moreover, food is a large part of festivals and other events that are typically celebrated at home, thereby driving the use of a professional set of slicers. The residential sector is anticipated to create high demand for household slicers with a rise in barbeque parties and the growing popularity of outdoor grilling as a form of leisure.

Increasing preference for modular kitchens, coupled with rising living standards, is driving the demand for slicers in the residential sector. In addition, the thriving residential sector is widening the scope of kitchen products across the globe. Over the past years, governments have been taking initiatives to promote advanced and sustainable residential constructions. For instance, according to the National Bureau of Statistics of China, in 2017, the total investment in real estate in China was around USD 1,628.31 billion, out of which, the investment for residential buildings was around USD 1,114.44 billion, which is 9.5% higher as compared to the previous year, 2016. Such growth in the residential sector is expected to propel the demand for kitchen tools in the region over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/household-slicer-market

Further key findings from the report suggest:

By product, manual slicers led the market and accounted for a revenue share of 73.6% in 2019
Asia Pacific is expected to register the fastest CAGR of 6.2% from 2020 to 2027. Demand is anticipated to grow in the region due to an increase in the purchasing power of consumers and the rising preference for experimenting culinary skills
Offline distribution channels dominated the market by accounting for an 85.4% share of the global revenue in 2019.

Vegan Cheese Market Size Worth $2.66 Billion By 2027

The global vegan cheese market size is expected to reach USD 2.66 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 12.8% from 2020 to 2027. Expanding acceptance of veganism and “Flexitarianism” among the millennial consumers has been fueling the demand for the product. Rising awareness regarding the harmful impacts of the dairy industry on the environment and animals has persuaded consumers to opt for dairy-free products. Moreover, growing health awareness among the lactose intolerant people is another key driver in the industry.

Mozzarella dominated the market with more than 30.0% share of the global revenue in 2019. Extensive application of the product in various Italian foods, including pizzas, pasta, croquettes, risotto, lasagna, and Caprese, has surged the demand for the product. The ricotta product category is projected to expand at the fastest CAGR over the forecast period due to the increasing use of the product in various recipes.

In terms of end-use, the household segment led the market and held over 50.0% share of the global revenue in 2019. Rising purchasing power and willingness to spend on quality food products have expanded the demand for the product in the household sector. The foodservice segment is anticipated to witness the fastest growth during the forecast period. An increasing number of restaurants, fast-food chains, and cafes, are including plant-based items in their menus, which is fueling the demand for the product in the foodservice sector. Increasing use of the product in several pizza chains, such as Pizza Express and Koti Pizza, has boosted the segment growth across the globe.

New players have been entering the market to tap the growing demand for the product. For instance, in 2019, Pleese Foods, a U.S.-based plant-based cheese producer, entered the industry with a range of products available in various forms and flavors.

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https://www.grandviewresearch.com/industry-analysis/vegan-cheese-market

Further key findings from the report suggest:

Asia Pacific is projected to witness the fastest growth with a CAGR of 14.3% from 2020 to 2027 owing to rising adoption of plant-based food in China, Japan, and Australia
The household end-use segment dominated the market by accounting for over 50.0% share of the global revenue in 2019
In terms of source, the cashew segment held the largest share of more than 35.0% in 2019
The mozzarella product segment led the market and accounted for more than 30.0% share of the total revenue in 2019 due to its extensive application in various food recipes.

Gas Fire Table Market Size Worth $116.6 Million By 2027

The global gas fire table market size is expected to reach USD 116.6 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.0% from 2020 to 2027. Gas fire tables have emerged as one of the most popular trends among the residential owners looking to upgrade and model their outdoor living areas.

A Better Homes and Gardens survey reveals that 51% of the millennials decorate their outdoor living space as they would an indoor dining or living room and 77 percent say they want their outdoor living space to feel like a relaxing retreat. The survey also shows millennials are interested in upgrading their outdoor spaces with landscape lighting (27%), a fire pit (26%), lamps or party lights (24%), and comfortable outdoor seating, dining sets, and other accessories (24%) to create a cozy environment in the outdoor spaces.

The natural gas-based fire tables are expected to witness the highest growth in the coming years owing to its lightweight and ability to dissolve rapidly, which leaves very little room for accidental ignition. Propane based fire tables allow the users to make a fire during burn bans in certain areas. Propane pits also generally emit less heat than a large wood-burning fire pit, thereby driving the demand for this product.

Consumers have been preferring offline distribution medium due to discounted prices and budget-friendly offers provided by retailers, which has driven more customer footfall in physical stores. Moreover, the availability of varied quality gas fire tables at an affordable rate offered by local manufacturers is likely to attract a greater number of customers to offline channels. Strong localized positioning and increased focus on customer needs and experience are the major factors that are expected to foster the growth of this distribution channel segment.

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https://www.grandviewresearch.com/industry-analysis/gas-fire-table-market

Further key findings from the report suggest:

Propane based gas fire table held the largest share of 77.4% in terms of revenue in 2019
The natural gas-based gas fire table is expected to register the fastest CAGR of 10.0% from 2020 to 2027
The offline channel of distribution led the market and accounted for 89.2% share of the global revenue in 2019
The online distribution channel is expected to witness the fastest growth during forecast years with a CAGR of 10.3% from 2020 to 2027.

Natural Skin Care Product Market Size Worth $16.06 Billion By 2027

The global natural skin care products market size is anticipated to reach USD 16.06 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.0% from 2020 to 2027. Increased exposure to chemical beauty products has resulted in rising cases of allergies due to which people are refraining from buying such products and are shifting to natural skincare products.

Large-cap beauty and cosmetic companies are investing in natural products division by acquiring small firms or startups for expanding according to market dynamics. For instance, in 2017, Loreal, a beauty and cosmetics company, acquired a German natural beauty company, Logocos Naturkosmetik AG, which has a certified product range made of plant extracts and natural ingredients. The major offerings of the company are skincare, hygiene, body care, hair care, and color.

Based on type, the mass segment led the market and accounted for 60.5% share of the global revenue in 2019. Customized solution offerings and new product launches in the market place are some of the trending factors expected to boost the segment growth. For instance, Forrest essentials, an Indian brand, offers customization options for a skincare routine, such as skin cream, moisturizers, and night pack, in which a skin quiz is presented and further the products are recommended according to the customized details.

The facial care segment led the market and accounted for 63.9% share of the global revenue in 2019. Growing skin-related concerns including acne issues, dead skin, open pores, and dull skin, mainly among millennial groups, have led to the acceptance of natural skincare products. Many brands have been contributing to this segment’s growth and launching products for the same. For instance, in April 2020, Tata Harper, a premium natural skincare brand, launched Water-Lock Moisturizer for the face containing pomegranate enzymes and orange blossom peptides.

The COVID-19 (coronavirus) outbreak is likely to reduce the demand for natural skincare products across the globe. Consumers have become more conscious of their spending habits and tend to avoid premium products, such as organic and natural, which is a major challenge for the market. It is also expected that customers would avoid visiting retail stores and brick and mortar stores post-pandemic as they are conscious about their health and avoid going to crowded places. This might impact the sales of cosmetic products, including natural skincare products.

Based on end-use, the women segment led the market and accounted for 60.0% share of the global revenue in 2019. Women are more conscious of their skin and overall appearance, which leads to a preference for better quality products, which are chemical-free and healthy for their skin. Moreover, the increasing involvement of females in the working population globally has enabled them to spend on natural beauty products due to an increase in disposable income, which is driving the segment.

Europe dominated the market for natural skin care products and accounted for 33.2% share of the global revenue in 2019. Stringent regulations in the region regarding the beauty and cosmetic products, such as NaTrue and COSMOS NATURAL, which define the criteria natural companies must comply with to ensure consumers that their products are genuine organic or natural cosmetics produced, are contributing to the growth of the market.

E-commerce is expected to witness the fastest growth over the forecast period. The rising popularity of e-commerce channels among the manufacturers and high consumer penetration has been driving the sale through this channel. In addition, an increase in the number of natural products private sales websites, such as nykaa.com, mamaearth.com, and wowshampoo.com, has been boosting the segment growth.

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https://www.grandviewresearch.com/industry-analysis/natural-skin-care-products-market

Further key findings from the report suggest:

Based on type, the mass segment led the market and accounted for 60.5% share of the global revenue in 2019. Technological advancement pertaining to the online selling of beauty products is contributing to the segment growth. According to Marketing Communication News report 2019, 56% of skincare users are convinced by the use of Augmented Reality, chatbots, and virtual advisors for their final purchase of skincare routine products
Based on end-use, the women segment led the market and accounted for 60.0% share of the global revenue in 2019. The rising importance of natural skin care product purchasing and growing per capita income of women workforce are the key factors fueling the growth for this segment
E-commerce emerged as the fastest distribution channel in 2019 and is expected to retain its pole position throughout the forecast period. The increasing availability of a wide range of natural skincare products of different brands, free delivery, and seasonal discount on e-retailer platforms are among the major reasons driving the segment
Asia Pacific is expected to emerge as the fastest-growing regional market with a CAGR of 5.3% from 2020 to 2027. Factors such as a growing preference for natural skin care products among millennials and increasing disposable income have been boosting the number of first-time buyers in the region, which is expected to drive the market in the region.