Heat Treating Market Size Worth $122.34 Billion By 2025

The global heat treating market size is expected to reach USD 122.34 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 3.5% CAGR during the forecast period. Increasing penetration of metal treatment services in automotive, aerospace, construction, energy, and metalworking applications is expected to act as a key market driver over the forecast period.

Steel is a key material used in the metal heat treatment industry. Increasing use of steel in construction and machining applications is projected to positively impact segment growth over the forecast years. Other metals commonly used include aluminum, iron, copper, and nickel. Aluminum is expected to witness significant growth on account of increasing penetration of the metal in aerospace and automotive industries.

The most commonly used processes for heat treatment include hardening and tempering, case hardening, and annealing. Case hardening is expected to witness significant growth over the forecast period due to growing popularity of carburizing, nitrding, and carbonitriding for surface hardening in metalworking and machining applications.

Automotive emerged as the dominant application segment in terms of market share in 2016. However, aerospace is expected to witness highest growth during the next eight years on account of a rapidly-growing aerospace industry in emerging economies worldwide. Companies in the domain including Bluewater Thermal Solutions; Bodycote Heat Treatments Ltd.; Summitglow Ltd.; Ajax Tocco International; and Metcor Inc. are involved in furnace manufacturing, treatment services, and surface treatment facilities.

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https://www.grandviewresearch.com/industry-analysis/heat-treating-market

Further key findings from the report suggest:

The heat treating market was valued at USD 90.73 billion in 2016 and is expected to exhibit a CAGR of 3.5% from 2017 to 2025. The market is primarily driven by increasing demand for metal treatment services from key end-use verticals
The cast iron material segment was valued at USD 9.43 billion in 2016 and is projected to witness comparatively slower growth over the forecast period. This can be attributed to increasing use of other metals such as aluminum, copper, titanium, and nickel in various end-use industries
In 2016, the case hardening process segment was valued at USD 23.99 billion, expanding at the highest CAGR of 3.7% over the forecast period. This growth can be attributed to increasing use of carburizing for surface hardening as opposed to conventional hardening
Asia Pacific dominated the global market in terms of revenue; the market was valued at USD 34.21 billion in 2016 and is projected to expand at a CAGR of 3.9%. Rapid growth in key end-use industries across emerging economies of India, China, Indonesia, and Vietnam, among others is expected to benefit regional market growth over the forecast years
Key industry participants are engaged in technical collaborations, mergers with furnace manufacturers, and strategies to expand geographical reach in order to increase profit margins and application portfolios.

Heat Treating Market Size Worth $122.34 Billion By 2025

Click the link below:
https://www.grandviewresearch.com/industry-analysis/heat-treating-market

Further key findings from the report suggest:

The heat treating market was valued at USD 90.73 billion in 2016 and is expected to exhibit a CAGR of 3.5% from 2017 to 2025. The market is primarily driven by increasing demand for metal treatment services from key end-use verticals
The cast iron material segment was valued at USD 9.43 billion in 2016 and is projected to witness comparatively slower growth over the forecast period. This can be attributed to increasing use of other metals such as aluminum, copper, titanium, and nickel in various end-use industries
In 2016, the case hardening process segment was valued at USD 23.99 billion, expanding at the highest CAGR of 3.7% over the forecast period. This growth can be attributed to increasing use of carburizing for surface hardening as opposed to conventional hardening
Asia Pacific dominated the global market in terms of revenue; the market was valued at USD 34.21 billion in 2016 and is projected to expand at a CAGR of 3.9%. Rapid growth in key end-use industries across emerging economies of India, China, Indonesia, and Vietnam, among others is expected to benefit regional market growth over the forecast years
Key industry participants are engaged in technical collaborations, mergers with furnace manufacturers, and strategies to expand geographical reach in order to increase profit margins and application portfolios.

Lubricants Market Size Worth $167.5 Billion By 2027

The global lubricants market size is projected to reach USD 167.5 billion by 2027, expanding at a CAGR of 3.6%, according to a new report by Grand View Research, Inc. The demand for lubricants is driven by the growth in major end-use industries, especially marine and aerospace. However, the consumption was dominated by the industrial and automotive sectors together contributing to a market share of 93.1% in 2019.

Aerospace lubricants are projected to lead the growth as they provide long-lasting lubrication for various components and increase reliability, in order to operate efficiently in extreme temperatures and high vacuum. The aerospace components have high maintenance due to the increasing regulatory interventions, owing to their ability to carry a large number of people. In addition, aircraft are gaining high demand from the defense industry and lubricants are of utmost importance to make these vehicles compliant with specific military standards. The demand for aircraft is projected to witness positive growth due to the rise in defense budgets. Countries including U.S., India, Germany, and Brazil have made a considerable progress in defense, which is projected to boost the aerospace industry globally.

The aerospace lubricants find significant application in pistons as they reduce over 50.0% of the friction and contribute to better fuel efficiency. The substance also acts as a viscosity improver, sealant, and coolant in engine assemblies. Straight mineral oil with zero dispersants is usually recommended by manufacturers for the first 50-hour break-in period on new or newly overhauled engines.

On the other hand, the marine industry in North America is experiencing a renaissance and has a major contribution to national, economical, and homeland security. The domestic marine transportation industry is a major support for the energy infrastructure with the movement of refining petroleum, crude products, and chemicals, especially after the shale oil revolution. The shipbuilding industry is growing at an accelerated rate. The construction of several types of vessels which include roll-on/roll-off vessels, offshore supply vessels, containers has greatly increased in recent years, thereby boosting market growth.

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https://www.grandviewresearch.com/industry-analysis/lubricants-market

Further key findings from the report suggest:

Aerospace led the market in terms of growth due to the rise in production of commercial aircraft. The production of aircrafts is growing due to the increase in lavish lifestyles among middle class population across the globe
Gas turbine oils are the most widely consumed aerospace lubricants with a share of 42.2% in terms of value in 2019. The oil allows faster piston ring seating and allows the accumulation of some advantageous deposits which lead to better oil loss control. These factors are expected to further boost product demand over the forecast period
The global trade of lubricants is divided into three major blocks comprising of European chemical trade, ASEAN trade, and North America free trade area. The European and North American blocks account for around 40.0% of the overall trade
Latin America is projected to formulate several trade strategies in order to attract Foreign Direct Investment (FDI) for the infrastructure development and is thus expected to witness a CAGR of 3.5% from 2020 to 2027
Royal Dutch Shell leads the market with an overall share of 11.0% followed by ExxonMobil Corporation with 9.7% market share. Currently, Royal Dutch Shell operates 5 base oil facilities, 40 blending facilities, and 10 grease plants.

Silicon Carbide Market Size Worth $7.18 Billion By 2027

The global silicon carbide market size is projected to touch USD 7.18 billion by 2027, exhibiting a revenue-based CAGR of 16.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand from semiconductors is likely to remain a key driving factor as the product improves efficiency, reduces form factor, and operates at high temperatures.

The aforementioned properties of Silicon carbide (SiC) semiconductors along with its advantages over silicon makes it suitable in applications such as automotive and aerospace and defense industries. High temperature resistant materials are widely used in these industries, thus, there is increasing adoption of SiC semiconductors in power electronics, which in turn is likely to drive the SiC market growth over the forecast period.

The strategic initiatives adopted by the key players in the semiconductor industry are expected to play a key role in the growth of the SiC semiconductors industry. For instance, in January 2019, Cree, Inc., signed a multiyear supply agreement of silicon carbide wafers to STMicroelectronics. These rapid developments are expected to positively influence the growth of the silicon carbide market over the forecast period.

In Asia Pacific, the rising population along with adopting urbanization is expected to propel the development of smart cities and smart houses, which in turn is anticipated to boost the demand for silicon carbide power modules in electric vehicles. China is one of the largest automobile producers in the world, accounting for 29.1% in 2018. Increasing production of automobiles is anticipated to fuel the product demand over the coming years.

Key market players Carborundum Universal Limited; Entegris, Inc.; AGSCO Corporation; Dow Chemical Co.; ESD-SIC b.v.; Saint Gobain Ceramic Materials GmbH; ESK-SIC GmbH; and Grindwell Norton Ltd. Most of the market players are focused on capacity expansions and mergers and acquisitions to meet the growing demand for silicon carbide. For instance, In November 2018, Entegris announced the expansion of the manufacturing capacity of its facility located in Kulim, Malaysia by 30%. In the expansion project, new tooling, molding machines, and numerous updates to the assembly area were installed to support the increasing silicon carbide wafer and reticle handling demand.

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https://www.grandviewresearch.com/industry-analysis/silicon-carbide-market

Further key findings from the report suggest:

Green silicon carbide segment is anticipated to progress at a CAGR of 10.1%, in terms of volume, over the forecast period owing to the increasing production of semiconductors that are further used in various electrical and electronics applications, such as transistors, solar cells, and LEDs
Steel segment accounted for a revenue share of 21.1% in 2019 owing to the increasing demand for steel from various end-use, industries, such as automotive, construction, and oil and gas. Silicon carbide is used as a deoxidizing agent, abrasive, and refractory in the steel industry
Electrical and electronics is among the fast growing segments with a CAGR of 10.8% in terms of volume from 2020 to 2027. The growth is attributed to the increasing demand for semiconductors owing to the increasing utilization of renewable sources of energy across the globe
Asia Pacific is projected to witness a CAGR of 17.9% in terms of revenue over the forecast period, owing to the growth of the manufacturing sector in countries including China, India, Japan, and South Korea
North America is expected to witness a CAGR of 7.6% in terms of volume over the forecast period owing to the increasing product utilization in electronics, aerospace, and defense industries
Major players in the silicon carbide market include AGSCO Corporation; Carborundum Universal Limited; Dow Chemical Co.; Entegris, Inc.; ESD-SIC b.v.; ESK-SIC GmbH; Grindwell Norton Ltd; and Saint Gobain Ceramic Materials GmbH.

Lubricants Market Size Worth $167.5 Billion By 2027

Click the link below:
https://www.grandviewresearch.com/industry-analysis/lubricants-market

Further key findings from the report suggest:

Aerospace led the market in terms of growth due to the rise in production of commercial aircraft. The production of aircrafts is growing due to the increase in lavish lifestyles among middle class population across the globe
Gas turbine oils are the most widely consumed aerospace lubricants with a share of 42.2% in terms of value in 2019. The oil allows faster piston ring seating and allows the accumulation of some advantageous deposits which lead to better oil loss control. These factors are expected to further boost product demand over the forecast period
The global trade of lubricants is divided into three major blocks comprising of European chemical trade, ASEAN trade, and North America free trade area. The European and North American blocks account for around 40.0% of the overall trade
Latin America is projected to formulate several trade strategies in order to attract Foreign Direct Investment (FDI) for the infrastructure development and is thus expected to witness a CAGR of 3.5% from 2020 to 2027
Royal Dutch Shell leads the market with an overall share of 11.0% followed by ExxonMobil Corporation with 9.7% market share. Currently, Royal Dutch Shell operates 5 base oil facilities, 40 blending facilities, and 10 grease plants.

Acoustic Insulation Market Size Worth $16.55 Billion By 2025

The global acoustic insulation market size is expected to reach USD 16.55 billion in 2025, according to a new report by Grand View Research, Inc. Increasing standard of living, awareness regarding the effect of noise pollution on human health and stringent regulations have been driving the global market so far.

Market growth will probably be driven by consumer needs and initiatives, while favorable regulations are also expected to play a crucial role in shaping the industry. Technological advancements in construction, industrial processing, and transportation industries will play a significant role in acoustic insulation market growth over the forecast period.

Increasing competition in automotive manufacturers to produce acoustically insulated luxury vehicles has taken the game far ahead. Aerospace and marine industries have been trying to isolate occupants from airborne and impact noises. Consumer demand for quieter and insulated cabins in vehicles and airplanes will probably help the segment growth over the forecast period.

Building & Construction has traditionally been using sound insulating materials to maintain a peaceful environment for the occupants. Penetration in the sector is primarily driven by regulatory mandates to control noise transmission level, especially in the U.S. and Europe. However, sluggish construction industry growth in Europe has inhibited the market growth in the past and the impact is expected to be seen over the forecast period as well.

Asia Pacific is the dominant market, and the demand has been driven by growing construction as well as transportation sectors. Europe closely follows Asia Pacific to be the second largest market for acoustic insulation products. Regional demand is driven by stringent regulations regarding the airborne, appliance and impact noise. Apart from regulations on noise at source, EU regulates noise transmission levels inside dwellings as well.

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http://www.grandviewresearch.com/industry-analysis/acoustic-insulation-market

Further key findings from the report suggest:

Rock wool emerged as the leading product segment with demand share exceeding 40% in 2015. Higher sound insulation, environment-friendly nature, and low prices have been responsible for the market penetration.
Foamed plastic is expected to be the fastest growing product segment with revenue growth of 6.2% from 2016 to 2025. Better acoustic properties, ease of installation in addition to the dual benefits of acoustic as well as thermal insulation offered are expected to trigger the product demand.
Building & construction dominates the market with a volume share exceeding 55% in 2015. Regulations and consumer demand mainly drive segment penetration.
Asia Pacific acoustic insulation demand expected to grow at an estimated CAGR of 6.2% from 2016 to 2025. Growing transportation as well as construction sectors in the region will probably trigger the market growth.
Expansion and acquisition to emerge as the critical factor for expanding the regional presence. Key companies operating the market include Rockwool International, Saint-Gobain, Knauf Insulation, BASF, Owen Corning Corporation, Johns Manville and Kingpan Group

Advanced Composites Market Size Worth $41.20 Billion By 2024

The global advanced composites market size is expected to reach USD 41.20 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow, primarily on account of superior benefits such as reduced weight, fuel efficiency and higher strength offered by the materials.

Rising demand for specialty products that comply with U.S. Leadership in Energy and Environmental design (LEED) standards is expected to propel the demand in construction segment Technological innovations aimed at the development of cost-effective manufacturing processes are expected to drive demand.

The market for advanced composites is characterized by the presence of a large number of regulations. The production process of composite materials is heavily regulated on account of critical nature of their usage. In addition, the usage of such materials is also subject to various regulations related to the strength and performance characteristics, which is likely to affect the growth.

Increasing adoption of composites by the automotive industry coupled with reduced raw material prices, is projected to drive the industry growth over the forecast period. Manufacturing companies are shifting their focus towards the developing economies in regions such as Asia Pacific and Central & South America (CSA), on account superior economies of scale.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/advanced-composites-market

Further key findings from the report suggest:

Carbon is expected to be the fastest-growing segment, in terms of volume, registering a CAGR of 11.9% from 2015 to 2024 owing to its extensive usage in the production of aircraft components such as wings, fuselage, cockpit, and tail surfaces.
The use of s-glass based composites in the construction industry is expected to reach a market revenue of USD 2.52 billion by 2024 on account of the superior stress resistance of the product coupled with longer operational lifetime
The use of aramid fibers for aerospace and defense application is expected to register a CAGR of 5.8% over the forecast period owing to heightened demand for low weight, high-strength materials for aircraft production.
Key manufacturers operating in the industry lay extensive focus on the production and development of high strength materials for specific applications in a bid to increase the market share.

TPU Films Market Size Worth $548.10 Million By 2025

The global thermoplastic polyurethane films market size is anticipated to reach USD 548.1 million by 2025 expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Increasing healthcare spending coupled with growing automotive sector is projected to drive the market. Asia Pacific is the dominant regional market due to the strong presence of major companies, such as Huntsman, Nippon, and Lubrizol, with large production capacities. Asia Pacific is also the leading consumer of TPU films due to growing automotive, construction, and energy sectors.

Major manufacturers based out of North America and Europe have set up wide distribution networks in developing countries by acquiring regional companies. This is also likely to have a positive impact on the region’s growth. Moreover, reduced reliance on export to Western Europe and North America is projected to increase the investments and trade in the local markets of Asia Pacific. Availability of cheap labor and easy access to finance are also likely to support the domestic market growth.

In addition, growing population and rising income levels are anticipated to fuel the development further. Rising global aniline prices have impacted the profitability of TPU films producers as there is intense competition in the global market. Due to the presence of a large number of suppliers, buyers have the advantage of low switching cost; therefore, manufacturers cannot afford to lose out on their customers and in the process jeopardize their profitability. Bio-based alternatives of TPU are capable of replacing the synthetic (petroleum-based) TPU.

Bio-based TPUs are widely used in almost every end-use industry where synthetic product is being used. Bio-based films provide a clean solution to the growing demand for Thermoplastic Elastomers (TPEs). Wearables in the medical field are expected to provide many opportunities over the coming years. As per the data published by DuPont, conductors, printed on TPU films show good results. Increasing healthcare spending coupled with rising awareness are likely to assist the market growth of wearable technology, thereby developing new opportunity for the product.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/tpu-films-industry

Further key findings from the study suggest:

Automotive is anticipated to be the largest application segment of the TPU films market during the forecast period on account of growing demand for vehicles
Aerospace is also predicted to witness a steady growth due to increasing demand from emerging countries, such as China and India
Asia Pacific was the second-largest regional market and accounted for 29.6% of revenue share in 2018 owing to the rapid development of automotive and construction sectors in the region
The 3M Company, Bayer Material Science, Huntsman Corp., Permali Gloucester Ltd. are the major companies in the global market
Most of these companies emphasize on their R&D activities for novel product development