Tag: Electrical & Electronics

Polyphenylene Sulfide Market Size Worth $2.14 Billion By 2025

The global polyphenylene sulfide market size is expected to reach USD 2.14 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to witness a CAGR of 8.8% during the forecast period. Several characteristics including high creep resistance, stiffness and strength, excellent temperature properties, and good chemical resistance are the key factors driving the PPS market growth.

The consumption of in automotive industries is projected to exhibit a significant growth owing to rising application in carburetor parts, exhaust gas return valves, flow control valves intended for heating systems, and ignition plates. PPS is also utilized in industrial applications including grills, hair dryer parts, cooking appliances, as well as serializable laboratory, dental, and medical equipment. This factor is anticipated to spur the product demand over the next few years.

Asia Pacific is anticipated to showcase substantial growth in light of rising living standard and increasing industrialization especially in China and India. Moreover, rising automotive, oil and gas, paints and coatings, and medical sectors will fuel expansion of the PPS market over the next seven years.

Growing demand for electrical and electronics components, including brush holders, motor housing, coil formers, connectors, terminal blocks, and thermostats and switch components in emerging economies including India, China, Malaysia, and Indonesia owing to rising disposable income of consumers is expected to propel polyphenylene sulfide market growth.

Rising consumption in coating applications owing to the high heat resistance, chemical resistance, and excellent electrical properties of polyphenylene sulfide will augment the demand. Also, high consumption in non-stick cookware, food processing, and chemical processing equipment will stimulate product penetration over the next few years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/polyphenylene-sulfide-pps-industry

Further key findings from the report suggest:

  • In terms of revenue, electronics and electrical application is projected to ascend at a CAGR of 8.8% over the forecast years
  • Automotive application led the global PPS market with a volume share of over 31.8% in 2018
  • Industrial, constituting a revenue share of 24.5% in 2018, is projected to exhibit a high growth in the next few years
  • Asia Pacific led the global Polyphenylene Sulfide (PPS) market in 2018 with 62.1% volume share. This trend is projected to continue over the next few years
  • Growing aviation industry on account of increasing government investments in aerospace mainly in India, South Korea, Singapore, and Malaysia is further expected to propel the demand from aerospace market
  • The market is highly competitive in nature. The main players include DIC, Toray Industries, Tosoh Corporation, SK Chemicals, Daicel Corporation, SABIC, Teijin Ltd. and RTP Company
  • Various manufacturers are concentrating on new product launches, capacity expansions, and technological innovations to estimate existing and future demand patterns from upcoming application segments.

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.

Click the link below:
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.

Fiberglass Fabric Market Worth $14.93 Billion By 2025

The global fiberglass fabric market size is expected to reach USD 14.93 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.1% during the forecast period. Rising penetration of the product in the electronics industry for manufacturing of printed circuit boards (PCB) is expected to drive the market.

Fiberglass wind turbine blades are constructed using stranded E-glass and S-glass fabrics stitched together and impregnated with vinyl ester, polyester, or epoxy matrix. These composites offer high strength for manufacturing lightweight and efficient rotor blades for large wind turbines maintaining cost efficiency.

The product offer superior properties such as high electric insulation, tensile strength, and corrosion and chemical resistance. Increasing R&D to improve product performance, wrapping, weaving, cleaning, and finishing to offer different weave patterns suitable for industry-specific applications are poised to work in favor of the market.

The glass fiber production technology and unique post-processing systems have a significant impact on quality of manufactured fiberglass fabric. Innovation and development of new technologies to obtain superior product quality for high-tech aerospace & defense and electronics industry applications have tremendous impact on competitive environment.

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

Further key findings from the report suggest:

  • The E-glass segment accounted for over 80.0% of the revenue share in 2017 on account of superior physical and mechanical properties such as high strength and stiffness and high temperature, flame and heat resistance
  • The nonwoven fiberglass fabrics segment is anticipated to register a CAGR of 6.3% in terms of revenue from 2017 to 2025 owing to its advantages over woven such as increased impact resistance, thermal insulation, and liquid repelling ability
  • The application of fiberglass fabric in the construction industry accounted for 25.8% of the revenue share in 2017 on account of its increasing demand in the construction industry to mask cracks and improve integrity of walls and ceiling
  • Fiberglass fabric in wind energy application is anticipated to register a CAGR of 7.3% in terms of revenue during the forecast period owing to its electrical insulation and lightweight characteristics, which aids in improving efficiency of wind turbines and their energy output
  • The industry in Central & South America is expected to register a growth of 7.3% owing to rising demand for the product in application industries including automotive, aerospace & defense, and electrical & electronics
  • Major players in the industry focus on research & development activities to identify new market opportunities and product development on the basis of requirements from the application industries

Capsule Coffee Machine Market Size Worth $1.78 Billion By 2025

The global capsule coffee machine market size is anticipated to reach USD 1.78 Billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. The market demand is majorly driven by the prominent use of single serve coffee, especially in the western countries such as U.S., U.K., Germany, and Switzerland. Capsule machines for this beverage are designed with easy operational features, lighter volume, and are available at a cheaper rate as compared to the traditional ones.

Americans alone consume about 136 billion cups of coffee every year, with an average consumers drinking approximately 3 cups each day, and spending on around $1100 annually. Consumers drink up to 500 billion cups of this beverage annually at the global level, with U.S. ranking as the second largest importer of coffee beans, after Europe. High consumption of this beverage in these regions is expected to drive the market.

Household application of capsule coffee machines is expected to expand at the highest CAGR of 5.0% over the forecast period. Growing trend of adoption of premium and specialty beverages induced with different flavors and origin is gaining popularity. This trend is expected to drive the demand for such capsule machines in the household sector.

Countries having high consumption rate such as U.S., Germany, Switzerland, and Japan are expected to account for a significant share in the global market. Consumers in the western countries prefer home brewed coffee and hence it is anticipated to fuel the market growth. According to the National Coffee Association trends, 29% of the U.S. households purchased single serve brewers in 2017.

The capsule coffee machine market in Asia Pacific is expected to expand at the highest CAGR of 12.7% from 2019 to 2025. Rising consumer awareness regarding technologically advanced products have initiated the sales of these products on a large scale in the region. Developing countries such as India and China are expected to contribute to the regional market growth owing to growing cultural trends and rising inclination towards consumption of coffee.

Moreover, this region is witnessing increasing establishment of cafes and coffee shops, which is anticipated to widen the scope of this market. In addition, China’s aging demographics and busy lifestyles are expected to popularize the trend of quick refreshment. This, in turn, has inclined them towards single-serve and quick offerings for household consumption, thereby fueling the market growth in the near future.

Moreover, Chinese millennials are significantly contributing to coffee consumption, resulting in about 20% growth. Starbucks’ initial exposure to coffee culture in China and independent beverage shops in cities such as Shanghai and Beijing are driving the culture. This, in turn, is expected to increase the single serve trend, thereby propelling the sales of capsule machines for this beverage.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/capsule-coffee-machine-market

Further key findings from the report suggest:

  • The global capsule coffee machine market is expected to expand at a CAGR of 13.3% from 2019 to 2025
  • The commercial application segment was valued at USD 109.2 million in 2018, whereas the household sector is expected to witness the fastest growth during the forecast period
  • Asia Pacific is the fastest growing region for capsule coffee machines, expanding at a CAGR of 12.7% from 2019 to 2025
  • Top players’ operating in the market are Keurig Green Mountain, Inc.; Nestlé Nespresso SA; Dualit Limited; Jacobs Douwe Egberts Pro; Starbucks Corporation; Dunkin Brands; LUIGI LAVAZZA SPA; Koninklijke Philips N.V.; and illycaffè S.p.A.

Super Abrasives Market Worth USD 10.4 Billion By 2025

The global super abrasive market size is anticipated to reach USD 10.4 billion by 2025, exhibiting a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. The market growth is majorly driven by the increasing use of diamond in grinding wheels for precision and machining tools.

The demand for precision and machining tools is driven by increasing production of motor vehicles and construction activities. In the construction industry, the product is used to manufacture drilling, sawing, and cutting tools to machine concrete, bricks, and stones. As per the Institution of Civil Engineers, the global volume of construction output is expected to grow by 85% by 2030 with the U.S., China, and India being the major contributors. This is likely to boost the utilization of super abrasives over the coming years.

The product is used as a grinding tool in the manufacturing of automotive components such as steering mechanism, injection systems, gear shaft, and cam/crankshaft to provide smooth finishing of components. Increasing production of motor and electric vehicles is anticipated to boost the demand for the product in the market over the coming years. The diamond segment is anticipated to register a CAGR of 5.7% over the forecast period owing to the growing demand for precision tooling from automotive and aerospace industries.

The market is characterized by a large number of local and global players. Major companies are acquiring local dealers/manufacturers and are entering into partnerships with major end users to continuously supply products. For instance, in February 2016, Saint-Gobain Abrasives entered into a partnership with Detroit Speed, an automotive component manufacturer, to promote its Norton brand. The move is projected to aid the former increase its consumer base. Asahi and Tyrolit, in November 2018, formed a business alliance in Europe and Asia to expand their product portfolio for electronics, bearings, and gearing industries. This move has allowed Asahi Diamond Group to enhance its portfolio in bearing & gearing industry.

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

Further key findings from the report suggest:

  • Construction segment is expected to witness a CAGR of 5.8% owing to the increasing demand for cutting, drilling, and sawing tools
  • The North America market accounted for a revenue share of 11.9% in 2018 with the growing manufacturing sector, especially in the U.S.
  • The super abrasives market in Europe is expected to grow at a CAGR of 4.3%, in terms of revenue, over the forecast period owing to ongoing construction projects in Russia, Poland, and Western European countries
  • Major players are adopting strategies such as capacity expansions, mergers, and acquisitions to cater to growing demand.

Air Coolers Market Size Worth $2.5 Billion By 2025

The global air coolers market size is expected to reach USD 2.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.8% over the forecast period. The market growth is attributed to affordability and efficient cooling, less power consumption as compared to AC, usage in outdoor space, and product innovation. Moreover, the product acts as a humidifier in dry weather and is environment and eco-friendly, thereby driving its demand.

Increasing demand for energy efficient, low power consuming, and eco-friendly cooling products is driving the market demand across the globe. These operate through the principle of evaporation. It uses simple air moving technique that pulls fresh air from outside driving through wet cooling pads, which absorb the heat from the surrounding and does not make it dry like ACs.

Air cooler does not use any harmful cooling agents such as CFC, HCFC, and other hydrofluorocarbons used in AC to cool the surrounding, thereby making it more eco-friendly. Growing concerns over energy consumption by ACs are increasing the inclination of consumers towards air coolers. They lower approximately 80% – 90% of electricity bill as compared to ACs, thus making them economical and energy efficient in the longer run.

Air coolers are not efficient to be used in humid and coastal areas, which is acting as a restraint to the market growth. However, product innovation is boosting the demand among developing economies. Technologically advanced products are penetrating the market in both developed and developing economies at a higher rate.

Remote control function for quick access to settings, speed of fan, and multi speed setting are finding it place in the market at higher rate than tradition air coolers. Innovative cooling pads such as Honeycomb also known as Cellulose cooling pad are decreasing the maintenance cost and increasing the cooling capacity.

By type, the air coolers market is segmented as tower, dessert, and others. Tower accounted for the largest market share in 2018. It is anticipated to register the fastest CAGR of 11.7% over the forecast period owing to the stylish design and compact nature. Consumers are more inclined towards these product types as they are easily portable and more economical. Moreover, they are compatible in dry as well as humid air, thereby making it a preferred choice among consumers.

Dessert air cooler and other air coolers such as personal, window, and mini portable air coolers are expected to witness significant growth over the forecast period. Dessert cooler held the second largest share in the market owing to its cooling capacity as it is larger in size. It needs to be kept outside the room to maintain its cooling capacity, if kept inside the room, the cooling capacity is affected.

By application, the market is segmented into residential and commercial. Residential accounted for the largest share of 80.0% in 2018 and is anticipated to witness the fastest growth over the forecast period. Rising temperature and increasing disposable income of growing middle class are expected to fuel the product demand in the residential segment.

Product demand is growing in the commercial segment due to its application in open air functions, where ACs cannot be installed. However, air ducts and central air conditioners are preferred for cooling as commercial space has a larger area. Groceries and retailer stores have showcased interest in adoption of air coolers owing to growing temperature and preference for cooler working environment.

Asia Pacific was the largest market in 2018, accounting for a share of 60.0%. The region is anticipated to witness significant growth owing to increasing temperature and substantial climate change. Demand is driven by adoption of air coolers in the residential as well as commercial sectors due to preference for cooling working environment and economically cheaper cooling product. In Asia Pacific, India holds the largest market share owing to large middle class population. Moreover, the country is the fastest growing market in the region owing to increasing number of manufacturers and competitive pricing.

Players in the industry strategize to expand globally by entering into niche markets through mergers and acquisitions and joint ventures. For instance, Symphony acquired Munters Keruilai Air Treatment Equipment Co., Ltd. to expand its reach in China.

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

Further key findings from the report suggest:

  • By type, tower accounted for the largest share in 2018 due to stylish design and compact nature
  • India held the largest market share in Asia Pacific in 2018 owing to large middle class population, increasing manufacturers, and competitive pricing
  • Key players operating in the global air coolers market include Symphony Limited; Bajaj Electricals Limited; Havels India Limited; Honeywell International Inc.; Aolan (Fujian) Industry Co., Ltd.; and Luma Comfort.

PET Compounding Market Size To Reach $7.82 Billion By 2024

The global polyethylene terephthalate (PET) compounding market is expected to reach USD 7.82 billion by 2024, according to a new report by Grand View Research, Inc. Rising polymer demand in end-use industries such as packaging, automotive, electrical & electronics and constructions is expected to remain a key driving force for PET compounding market growth.

Strong demand for PET bottles coupled with growing packaged food & beverage industry in emerging economies of Asia Pacific and Latin America such as China, India, Mexico, and Brazil are anticipated to fuel industry growth significantly.

Regulatory agencies to reduce Green House Gas (GHG) emissions by means of vehicular weight reduction and fuel efficiency improvements have formulated policies and guidelines. Automotive manufacturers & OEMs in order to meet these regulations have adopted plastics as a replacement for metals such as aluminum and steel.

Packaging accounted for over 55% of overall market volume in 2015. Growth in packaging industry can be attributed to the suitability of PET compounds to meet customer requirements with more durable, lightweight and corrosion-resistant parts.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/polyethylene-terephthalate-pet-compounding-market

Further key findings from the study suggest:

  • The global polyethylene terephthalate (PET) compoundingmarket demand was over 2,000 kilo tons in 2014 and is expected to exceed 3,500 kilo tons by 2024, growing at a CAGR of 6.9% from 2016 to 2024
  • Increasing substitution for glass, metals, wood, natural rubber and man-made materials by PET is driving the global market
  • Developing recycling processes that utilize lesser input in terms of fluids, energy, and machinery is crucial for production improvisation
  • Government regulations restricting petrochemical derived polymers consumption in applications such as food packaging, and medical devices are expected to further boost bio-based PET production
  • China accounted for nearly half of the Asia Pacific compounding volume in 2015. The country is characterized by high demand for PET compounds in packaging & electronic applications
  • BASF and Avantium Dutch technology firm formed a joint venture company to focus on polyethylene furanoate (PEF) and furandicarboxylic acid (FDCA), a bio-based polymer to replace polyethylene terephthalate
  • Polyethylene terephthalate (PET) compounding market is highly fragmented among multinational players and small domestic companies
  • Key industry participants in the market include Dow Chemical Company, RTP Company, SABIC, LyondellBasell, BASF SE, DuPont, SRF Plastics, A. Schulman, Polyvisions, Covestro, Washington Penn Plastics and PET Processors LLC