Base Oil Market Size Worth $30.8 Billion By 2027

The global base oil market size is projected to reach USD 30.8 billion by 2027, expanding at a CAGR of 5.1%, according to a new report by Grand View Research, Inc. Rising demand for the product from the global automotive sector to formulate various oils is projected to remain the key factor driving industry growth.

Increasing demand for group II base oil among various end-use industries such as the automotive and industrial sectors is expected to drive market growth significantly over the forecast period. The rising popularity of base oils is majorly due to their high wear and tear resistance, improved thermal stability, low friction, and enhanced load carrying capacity. This is projected to increase product demand over the foreseeable future across the globe.

Research and development and production of new cutting-edge technologies such as ester-based fire-resistant oils are being commonly incorporated in a variety of industries and are used with hydraulic battery packs so as to sustain high pressures and temperatures. Additionally, numerous large-scale OEMs have implemented food lubrication NSF standards with the purpose of utilizing PAO food grade products in the food, beverage, and nutrition sectors. This, in turn, is expected to open new opportunities for the industry over the projected period.

Further, in terms of industry opportunity, over the past couple of decades, there has been a significant surge in interest towards bio-based lubricants and for base oils obtained particularly from vegetable sources. This is attributed to increasing awareness among global manufacturers and consumers towards environmental degradation which eventually led to a demand surge for sustainable alternative feasible products with reduced carbon footprints. Advanced economies of Asia Pacific and Europe have made it mandatory to replace conventional products with biodegradable counterparts.

Companies operational in the ecosystem has been constantly striving to adapt to the changing dynamics of the global market space, in-lining their products with formulated government policies and consumer preferences. For instance, ExxonMobil introduced Environmental Awareness Lubricants hydraulic fluids line. These innovations are likely to reflect the positive growth trend of the market over the forecast period.

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

Further key findings from the report suggest:

Group II base oil is expected to witness a CAGR of 1.6%, in terms of volume, from 2020 to 2027 due to steady growth in the lubricant industry
Industrial application accounted for a market share of 15.0% in 2019, in terms of revenue, owing to rising demand from emerging economies and growing automation in operations
Asia Pacific is expected to register the fastest growth rate of 5.5%, in terms of revenue from 2020 to 2027 owing to increasing industrial activities across key countries and rising investments in manufacturing facilities
Companies such as ExxonMobil Corporation, Royal Dutch Shell, and British Petroleum are the market leaders with their worldwide brand presence, catering to an array of industries such as automotive and industrial manufacturing
The market is concentrated with multinational brands presence globally with established long-term contracts with key end-user groups, thereby limiting the entry of new industry participants.

Military Actuators Market Size Worth $1.7 Billion By 2027

The global military actuators market size is expected to reach USD 1.7 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% from 2020 to 2027. The development of advanced weapons, increasing demand for electric and electromagnetic actuators from the aerospace and defense industry, and the rise in homeland security concerns are some of the major factors driving the market.

Military actuators play a crucial role in the military and defense sector. They are used in motion control to monitor velocity and speed. The use of actuators in the military and defense industries helps to reduce energy consumption. The actuators are installed to enhance the fighting capabilities, which is expected to favor the market growth over the period of time.

Increasing demand for commercial and military aircraft propels the demand for military actuators. The rise in demand for protection applications in marine and aircraft is contributing to market growth. In addition, technological advancement and innovation in ballistic protection are favoring market growth.

The market can be segmented based on components, system, type, and application. The components include cylinders, servo valves, drives, manifolds, and others. Servo valves hold a significant share in the market owing to their use in various applications. Cylinders are projected to witness significant growth over the forecast period.

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

Further key findings from the report suggest:

The cylinders’ component segment is projected to expand at a significant CAGR of 5.5% from 2020 to 2027. Servo valves are used in various military applications, and thus are projected to gain a significant share in the market in the years to come
The hydraulic actuators system segment held the largest share of 24.5% in 2019. However, electrical actuators are projected to replace the hydraulic actuators over the forecast period
The linear actuators type segment is expected to expand at a CAGR of 5.6% from 2020 to 2027 on account of its high demand in the armored vehicles in land forces
North America dominated the market with a share of 33.7% in 2019 on account of rising investments in military and defense, rapid technological development, and increasing homeland security concerns
The major manufacturers emphasize on innovation through extensive R&D for the production of advanced actuators for use in armored vehicles and military equipment.

Injection Molding Machine Market Size Worth $22.45 Billion By 2025

The global Injection Molding Machine Market, estimated to develop by a 3.5% CAGR in forthcoming years. This molding machine is utilized to manufacture the products fabricated from diverse materials such as ceramic, rubber, metal and plastic. The machine comprises two most important parts known as clamping unit and an injection unit. The injection unit is similar to an extruder while the clamping unit is related to the process of the mold. Injection molding machines are able to tie up the molds either on the vertical or the horizontal position. These molding machines are available in three categories. These categories are all electric injection molding, hydraulic injection molding and hybrid injection molding machine. These machines offer a variety of advantages within the process for example greater amount of energy effectiveness, better accurateness and enhanced flexibility.

Growing requirement for long lasting and lightweight products, together with growing acceptance from packaging and automobile manufacturing industries is expected to motivate the development of the market for injection molding machine, in the forthcoming years.

Increasing significance of lightweight materials in automobile manufacturing is projected to increase the utilization of plastic materials in manufacturing of automobile components. Sequentially, it will motivate the global market for injection molding machine. Increasing industrial development, technical progression and fast growing population have increased the demand for automobiles in developing nations. These molding machines are used in manufacturing of under hood applications, exterior & interior decorative components and electronic sub assemblies.

Injection molding machines are able to manufacture well-organized packaging by way of extreme accuracy for composite and brittle products, comprising mobile phones, electronic goods and other items. Increasing demand for these products is projected to increase the development in global market for injection molding machines.

Various nations have started avoiding plastics, because of the growing heap of plastic garbage. This is a most important issue that restricts the development of the global market for injection molding machine.

Furthermore, the manufacturing of injection molding machines needs a huge investment. From the technological point of view, custom made machines have gained tremendous popularity among consumers thereby sufficing to their needs. This is turn increases the lead time for manufactures. Yet, the updated technology is able to meet up the demand and complete the necessity of the varied choices of the customers.

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

Further key findings from the report suggest:

Asia Pacific is expected to direct the global market in forthcoming years. The region holds a principal share of the market since the past years. Taiwan, India and China are amongst the major markets that are expected to power the global industry of injection molding machine in forthcoming years. Foreign direct investment (FDI), fast speed of urban development and increasing population in rural and city areas have boosted the local demand for electronics, consumer products and automobile manufacturing.
The U.S.A is one of the most important consumers in the global market for injection molding machine as automobile industry enormously generates the majority demand for these molding machines.
Some of the companies for Injection Molding Machine Market are: Husky Injection Molding Systems Ltd., Milacron Holdings Corp., Sumitomo (SHI), Haitian International Holdings Limited, Arburg GmbH & Co. KG, Nisei Plastic Industrial Co. Limited, Demag Plastics Machinery GmbH, Chen Hsong Holdings Limited and Engel Austria GmbH.