Market Research Blog – Page 10006 – New Product Development

Paraffins Market | Size, Application, Revenue, Types, Trends in Future, Scope to 2032

The global paraffin market is estimated to secure a market value of US$ 9.4 Billion by 2032 while expanding at a CAGR of 4.4%. The market valued US$ 5.9 Billion in 2021. The industry is anticipated to garner US$ 5.9 Billion in 2021.

The growth of the market can be attributed to the expansion of key end use industries, such as the paperboard and packaging sector, and personal beauty care, among others. Demand from the food industry for surface protection is projected to be another factor driving the industry growth in the forecast period.

Furthermore, expanding candle industry is predicted to propel the market. Yankee Candle Company launched a Sunday Brunch Candle collection. The candle was launched in various fragrances such as; vanilla, honey lavender, and others.

Such initiatives are anticipated to boost the demand for Paraffin and propel the industry growth in the forecast period. In addition, rising demand for personal care products, principally in developing countries, like India, South Korea, and others are predicted to drive the market in the forecast period.

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Rapid urbanization and the surging number of working women are other important factors contributing to the surged demand for paraffin in the forecast period.

Key Takeaways from the Global Paraffin Market:

The paraffin wax segment to expand at a growth rate of 4.1% during the forecast period
Paper board and packaging to record a CAGR of 4.1% in the assessment period
Market in the U.S to hold a value of US$ 3.2 Billion by 2032
Chinese market to record a CAGR of 4% by 2032
Market in Japan to secure a market value of US$ 600 Million
Market in South Korea to hold a revenue of US$ 300 Million by 2032

“Rapid growth of personal and beauty care sector, owing to the increasing disposable income and swift development of paper board and packaging industry is expected to play a significant role in driving the global market for paraffin in the forecast period.”

Competition Analysis

Key players in the global paraffin market include Exxon Mobil Corporation, Sasol, LANXESS, China Petroleum & Chemical Corporation, and ENEOS Corporation. Recent key developments in the market are as follows:

In March 2022, Sasol, the South African Energy, and Chemical Company sold its German subsidiary Sasol Wax to AWAX s.p.a. The firm is an international group specializing in providing wax products. The enterprise with two manufacturing units in the U.K and Austria will function under the name Hywax GmbH from w.e.f March 1, 2022.
In August 2021, LANXESS acquired Emerald Kalama Chemical for US$ 1.04 Billion. The specialty chemicals enterprise, LANXESS accomplished the second-largest history with the takeover of Emerald Kalama Chemical.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global paraffin market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of type (paraffin wax, liquid paraffin, kerosene, petroleum jelly) and application (cosmetics and personal care, paperboard and packaging, fuel, rubber, lubricants, other applications), across five major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa)

Key Segments Profiled in the Global Paraffins Market

Paraffins Market by Type:

Paraffin Wax
Liquid Paraffins
Kerosene Paraffins
Petroleum Jelly Paraffins

Paraffins Market by Application:

Paraffins in Cosmetics and Personal Care
Paraffins in Paperboard and Packaging
Paraffins in Fuel
Paraffins in Rubber
Paraffins in Lubricants
Paraffins in Other Applications

Paraffins Market by Region:

North America Paraffins Market
Europe Paraffins Market
Asia Pacific Paraffins Market
Middle East and Africa Paraffins Market
Latin America Paraffins Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Laminating Adhesives Market | Future Analysis, Demand by Regions and Opportunities with Challenges by 2027

The global laminating adhesives market is estimated to top US$ 4.33 Bn by the end of 2027 in comparison to the US$ 3.10 Bn registered in 2021. Shifting approach toward low volatile organic compounds (VOCs) & environmentally sustainable adhesives continue to drive global laminating adhesive market.

Growth in disposable products is another factor enabling broader consumption of laminating adhesives in the packaging industry. In 2027, the laminating adhesives market is projected to reach US$ 4.33 Bn in 2027, expanding at a healthy 5.8% CAGR during the forecast period of 2022-2027.

The laminating adhesives market is expected to experience significant growth, owing to growing industries – food, pharmaceutical, automotive and construction. Moreover, governments across the world are substantially investing in the healthcare sector, which is again expected to bolster the demand for laminating adhesives.

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The COVID-19 Impact on Global Market Scenario

The coronavirus (COVID-19) pandemic has significantly affected every facet of industrial sector globally. This has steered several changes in the laminating adhesives market landscape. Self-quarantine regulations have led to supply shortage and event withdrawals, and market players are gradually shifting their sources away from East Asia, given production and manufacturing disturbances in the region.

However, the coronavirus pandemic is likely to boost the adoption of flexible packaging to enhance food safety and thus, would offer new opportunities for players in laminating adhesives market.

In the global laminating adhesives market, food packaging applications are likely to hold key market shares. Among laminating adhesive types, water based laminating adhesives are expected to capture over 50% share of global market value, owing to their low-VOC content that reduces the negative impact on environment.

Key Takeaways of the Study

Factors such as increasing disposable incomes and rising urbanization that will continue to boost demand for packaging adhesives and increase packaged consumer goods sold in supermarkets, e-commerce websites, and other retail outlets will augur well for laminating adhesives market.
Water based adhesives are estimated to outpace solvent based laminating adhesives market, especially in the US and Europe over the forecast period.
North America and Europe are likely to see healthy growth in their respective transportation equipment markets, as manufacturers of automobiles and aerospace equipment are increasingly embracing adhesive technologies to reduce vehicle weight and thus meet fuel efficiency requirements.
India is expected to be the fastest-growing market of laminating adhesives, fueled by robust increases in motor vehicle output and construction spending.

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Competition Overview

Major players involved in the laminating adhesives market are focusing on expanding their customer base and distribution channel to meet the growing demand for laminating adhesives.

For instance, in May 2022, Arkema S.A.’s subsidiary company Bostik S.A. expanded its distribution channel of maintenance, repair, and operations (MRO) in the US. The MRO product line includes glue sticks, anti-seize compounds and lubricants, woodworking lubricants, epoxy adhesives, and aerosol adhesives to satiate the rising demand from manufacturers across the country.

Key players involved in the laminating adhesives market include The DOW Chemical Company, Huber Group, Arkema S.A., TOYOCHEM CO., LTD., Ashland Global Specialty Chemicals Inc., SAPICI S.p.A., H.B. Fuller Company, 3M, Sika AG, Henkel AG & Company, KGaA, Bayer AG, and among others.

Laminating Adhesives Market by Category
By Product Type:

Solvent Based
Water Based

By Application:

Food Packaging
Medical Packaging
Industrial Packaging
Other End-use

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 5-years.

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Emission Control Catalyst for Marine Market is Expected to Generate Huge Profits by 2031

The global emission control catalyst for marine market is anticipated to expand at a steady 5.5% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Driven by this, the global emission control catalyst for marine market is expected to surpass US$ 1,531.3 Mn by the end of 2031.

Growing marine fleet size, along with increasing demand for shipping transportation is expected to drive the market over the assessment period. Catalytic converters remove hydrocarbons, nitrogen oxides and carbon monoxide from exhaust fumes in marine engines.

The International Maritime Organization (IMO) has implemented strict regulations for harmful emissions from vessels based on their date of engine installation. New marine engines are equipped with selective catalytic reduction catalyst (SCR) to reduce NOx emissions which is fueling the demand for marine catalysts.

Manufacturers of marine catalysts are offering a wide variety of emission control products and proprietary technologies for emission reductions in marine vessels. They are focusing on providing marine catalysts that comply with existing and anticipated emission regulations.

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As per FMI, the market is predicted to be dominated by China, and the trend is projected to continue over the forecast period. Many manufacturers are designing catalysts to comply with China’s marine engine emission standard, which is expected to continue boosting sales in the market.

Key Takeaways:

By product type, demand for diesel-based emission catalysts is expected to surge at a 5.5% CAGR over the forecast period.
By application, sales in the fishing boat segment are projected to account for more than 54% of the total market share in 2021.
The OEM segment is anticipated to grow at a 4.3% CAGR during the assessment period.
Sales of emission control catalyst for marine in the U.S. are projected to increase at a 5.1% CAGR during the assessment period.
China is anticipated to emerge as a key market in the East Asia emission control catalysts for marine market over the forecast period.
In Southeast Asia, demand in the Indonesia market will grow at a 6.1% CAGR through 2031.
Japan and South Korea will collectively account for 29.3% of the total emission control catalyst for marine Market share through 2021.

“Demand for emission control catalysts is expected to be driven by stringent regulations implemented to curb the emission of SOx, CO2, and other harmful gases from different types of marine engines. In addition to this, surging demand for diesel-based catalysts for commercial vehicles will fuel sales in the forthcoming years,” says the FMI analyst.

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Emission Control Catalyst for Marine Market By Category

By Product Type:

Diesel-Based Emission Catalyst
- Diesel Oxidation Catalyst (DOC)
- Selective Catalytic Reduction Catalyst (SCR)
- Catalyzed Soot Filter/Diesel Particulate Filter
- Ammonia Oxidation Catalyst (AMX)
- NOx Absorbers
Gasoline-Based Emission Catalyst
- Palladium based catalyst
- Rhodium based catalyst
- Platinum based catalyst

By Application:

Commercial Vessel
Offshore Support Vessel
Passenger Vessel
Power Boat
Fishing Boat

By End Use:

OEM
Retrofit

Competitive Landscape         

Key market players in the global emission control catalyst for marine market elaborated in the report includes BASF SE, Johnson Matthey, Haldor Topsoe, Heraeus Holding, Tenneco Inc., Alfa Laval, NGK Insulators, Cormetech, Cataler Combustion Corporation and others.

Manufacturers are focusing on sustainability and are aiming to increase research & development activities for the development of new products. In addition to this they are investing in production capacity expansions in response a growing consumer pool.

For instance:

In January 2021, Hug Engineering introduced selective catalytic reduction solutions that abide to the IMO Tier 3 regulations on exhaust emissions for marine industry.

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More Insights into the Emission Control Catalyst for Marine Market Report

In its latest report, FMI offers an unbiased analysis of the global Emission Control Catalyst for Marine Market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope.

The market is segmented on the basis of product type (diesel-based emission catalyst, gasoline-based emission catalyst), applications (commercial vessel, offshore support vessel, passenger vessel, power boat and fishing boat) and end use (OEM and retrofit) across countries and regions (North America, Latin America, Europe, East Asia, South Asia Pacific and Middle East & Africa).

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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3D Printing Materials Market: Dominance of the Leading Companies Over the Global Industry

The global 3D printing materials market is anticipated expand at an impressive 14.0% CAGR over the forecast period. Rapid adoption of technologically advanced manufacturing equipment across various sectors is driving sales of 3D printers worldwide, which is expected to boost the market in the forthcoming years.

Raw materials such as plastics, ABS, PLA, metals & powders, carbon fibers, resins are some commonly used 3D printing materials. Growing trend of utilizing 3D printers to manufacture various kinds of small and large products are boosting the market.

In addition to this, increasing adoption of 3D printing in the building and construction sector is expected to augment the growth of the market. Furthermore, the expansion of automotive, aerospace, electronics and medical is anticipated to remain key growth driver of the global market of 3D printing materials.

As per FMI, North America is expected to remain a lucrative pocket in the global 3D printing materials market. Growth is attributable to the swift commercialization of novel technologies like 3D printing in various industries across the region.

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Key Takeaways:

By material type, sales in the metal segment are forecast to grow at a 14.9% CAGR over the assessment period.
Based on form, demand for powder 3D printing materials is projected to increase at a 13.5% CAGR through 2031.
In terms of applications, sales in the automotive sector are forecast to gain traction at a 13.6% CAGR over the forecast period.
The U.S. will emerge as a lucrative pocket in the North America 3D printing materials market.
Sales in the China 3D printing materials market are projected to increase at a 15.2% CAGR through 2031.

“Increasing adoption of 3D printing in the healthcare sector and the growing demand for 3D printed plastics for vehicle interiors are expected to drive sales in the market over the assessment period,” says an FMI analyst.

Competition Landscape

Key market participants in the global 3D printing materials market elaborated in the report includes Covestro AG, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc.

Key market participants are focusing on development of innovative 3D printing products to improve their product portfolios. Besides this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.

For instance:

In April 2021, Sandvik and its subsidiary BEAMIT Group announced a new capacity for additively manufacturing components in super-duplex stainless steel, an alloy that combines mechanical strength with extremely high corrosion resistance.

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3D printing materials Market By Category

By Material Type:

Plastics
Metals
Ceramics
Others

By Form:

Filament
Powder
Liquid

By Application:

Electronics & Consumers
Automotive
Medical
Industrial
Education
Aerospace
Others

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Lithium Mining to Receive Overwhelming Hike USD 3.4 Billion in Revenues by 2032: Exclusive Report by FMI

As per a recent analysis by Future Market Insights (FMI), the global lithium mining market is projected to top US$ 3.4 Bn by 2032. Growing demand for lithium ion batteries from end-use industries including automotive, packaging and consumer electronics is expected to propel sales of lithium over the forecast period 2022-2032.

Lithium is widely being adopted in the manufacturing batteries for electric vehicles, owing to advantages such as longer lifespan, improved fuel efficiency and low discharge rates. Increasing sales of electric vehicles are anticipated to spur demand for lithium in the forthcoming years, which in turn will augment growth of the global lithium mining market.

Moreover, growing demand for glass and ceramics from the packaging industry is likely to create new opportunities for key players operating in the lithium mining market. Glass and ceramics are mostly used in packaging of pharmaceuticals, food and beverages, and other items.

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Increasing applications of lithium in the glass and ceramics industry will continue boosting growth prospects of the lithium mining market. In 2020, the global lithium mining market was heavily impacted by the novel coronavirus pandemic.

Nationwide lockdowns, travel restrictions, and halted on mining operations hampered the production and consumption of lithium. However, sales are expected to recover in 2022 as demand for lithium from the automotive sector continues to grow.

“Growing focus on fuel efficiency in automotive vehicles is expected to propel consumption of lithium for batteries in the forthcoming years. Besides this, increasing sales of wearables and portable consumer electronics will continue augmenting growth of the lithium mining market through 2032,” says an FMI analyst.

Key Takeaways:

Lithium production through brine solutions is expected to capture 65% of the total lithium mining market share.
The lithium hydroxide segment is projected to account for a dominant share over the forecast period.
Applications of lithium in the battery segment are projected to grow at 8.5% year-over-year in 2022.
Sales of lithium in the U.S. are projected to grow by 3.2% year-over year in 2022.
Australia will emerge as an attractive market owing to the presence of high-capacity lithium reserves in the country.
China will continue experiencing high demand for lithium due to increasing production and sales of consumer electronics.

Competitive Landscape

Albemarle, Ganfeng Lithium, Livent, Nemaska Lithium, Orocobre limited, Sichuan Tianqi Lithium Industries, SQM and Lithium Americas Corp. are among the key market players identified by FMI. These players are projected to command 60-70% of the total lithium mining market share.

Leading players operating in the global lithium mining market are focusing on production facility expansion through mergers and acquisitions to gain a competitive edge in the market.

For instance:

In October 2022, Belgian material technologies group Umicore UMI.BR signed a long-term lithium supply deal with Gangfen Lithium Co. Ltd. to expand its production capacity in response to rising electric vehicles demand.

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Lithium Mining market by Category

By Source:

Brine
Hard Rock
Others

By Type:

Lithium Carbonate
Lithium Hydroxide

By Application:

Battery
Ceramics and Glass
Lubricants & Grease
Polymer
Flux Powder
Refrigeration
Others

More Insights into the lithium Mining Market Report

In its latest report, FMI offers an unbiased analysis of the global lithium mining market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2022-2032.

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of source (brine and hard rock), type (lithium carbonate and lithium hydroxide) and applications (battery, ceramics and glass, lubricants and grease, polymer, flux powders, and refrigeration) and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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What Is the Impact of the COVID-19 Crisis on the Lithium Mining Market?

The ongoing COVID-19 crisis is anticipated to have a significant impact on the global economic growth for the period of 2020-2022. The global economic growth curve witnessed a downfall up to -5% owing to the pandemic. Factors such as nationwide lockdowns, travel restrictions, and halted manufacturing and production across various sectors has resulted in stunted consumption of lithium.

Mining operations were also shut down in 2020 in globally. This has resulted in dampened growth prospects in the global lithium mining market. However, with resumptions in production and sales in the automotive and consumer electronics industry, the lithium mining market is expected to recover at a steady pace over the forecast period.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Ammonium Thiosulfate Market | Size, Application, Revenue, Types, Trends in Future, Scope to 2031

Ammonium thiosulfate has witnessed a considerable increase in demand from diverse end use industries such as agrochemicals, pharmaceuticals, water treatment, agriculture and mining sector among others. Owing to the growing demand for crop production across the globe, demand for nitrogen & phosphate based fertilizers is anticipated to increase in the coming years.

Rising need for more nutrients in the soil, adoption of ammonium thiosulfate will increase. As ammonium thiosulfate fertilizers provides certain vital elements for the plant and crops growth, adoption within agriculture sector will increase, spurring sales.

Moreover, decreasing land area worldwide due to growing urbanization and industrialization will also fuel demand for ammonium thiosulfate. The market for ammonium thiosulfate witnessed moderate growth during FQ-20, due to the sudden outbreak of Covid-19. Decrease in demand within the industrial sector resulted in slight decline of sales.

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However, the market is expected to witness positive growth outlook backed by the increasing demand for ammonium thiosulfate from the agriculture sector. According to Future Market Insights, the global ammonium thiosulfate market is anticipated to grow at a healthy CAGR of 6.6% during the forecast period of 2021 and 2031.

Key Takeaways from Ammonium Thiosulfate Market Study

In terms of end use, photochemical and water treatment are expected to witness high growth during the forecast period.
The global ammonium thiosulfate market is anticipated to reach a value of US$ 367.5 million by the end of the forecast period.
Industrial grade will be the preferred grade type among end-users, accounting for lion’s share in the global market
Powder form is expected to remain the key form type of owing to substantial demand of the inorganic compound for various other industries including mining and treatment of industrial wastewater.
The U.S. is projected to remain the lucrative market owing to the presence of key producers and steady expansion of agriculture industry in the region.

“Prominent manufacturers of ammonium thiosulfate are specifically emphasizing on capacity expansions and agreements with the sole purpose to cater demand and gain more regional presence, especially in India and the U.S.,” said a lead analyst at FMI.

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Ammonium Thiosulfate Market by Category

By Form Type:

Powder
Liquid

By Grade:

Industrial Grade
Photo Grade

By End Use:

Fertilizer
Photochemical
Mining
Others

Ammonium Thiosulfate Market: Participant Insights

Key market participants in the global ammonium thiosulfate market are Tessenderlo Kerley, Inc., Koch Nitrogen International Sarl, Kugler Co., Martin Midstream Partners, TIB Chemicals AG, Esseco Srl, PCI Nitrogen, Shakti Chemicals.

Key players are focusing on strategic expansions by expanding production capacity, in emerging economies by setting up of new production units, collaborations and mergers and acquisitions of other market participants to provide to increase their market presence.

What Is the Impact of COVID-19 on Ammonium Thiosulfate Market?

The global economy witnessed a significant downfall due to the sudden outbreak of COVID-19. Global shutdown halted trade activities, resulting in disruption of supply-chain network. Industrial sector, mining sector and construction sector suffered the most.

However, agricultural sector showed a stable trajectory during the pandemic, as it falls under essential services category and agricultural produce being categorized as critical commodities, thus exempting them from restrictions.

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Moreover, demand and supply of certain fertilizers decreased due to the pandemic. Ammonium thiosulfate is produced from sulphur and is extracted from oil & gas refineries. Due to pandemic, production of ammonium thiosulfate decreased due to supply chain disruption and reduction in the oil & gas demand.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Bicycle Chain Market Trends, Growth, Future Demand, Analysis and Forecast by 2029

The ever rising number or cycling enthusiasts has been aiding expansion of bicycle chains market. Future Market Insights (FMI) in a recent study forecasts the market demonstrate a steady growth at 4.9% between 2022 and 2029.

Bicycles have been through numerous design changes over the years, currently however the focus is more on ensuring robust performance and precise gear shifts. Ascertaining the efficiency of bicycle chains is therefore top priority among manufacturers.

The rising demand for faster cycling speed and more power is creating scope for innovations. Consequently, manufacturers are encouraged to integrate digital intelligence to boost mechanism as is expected from smart bicycle technologies.

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There is immense focus on manufacturing durable and robust chains without making them any heavier. The development of hollow pins for instance is intended to enable production of lightweight chains.

Some are even using diamond and gold coatings on chain to enhance its performance and durability. A host of similar novel developments will underscore growth prospects for the market. Likewise, FMI forecasts the bicycle chain market to reach a valuation of US$ 1.4 Bn by the end of 2029.

The report also uncovers various hidden growth opportunities in the market. Some of the key takeaways from the report are as follows:

With China demonstrating extensive production of e-bikes, East Asia accounted for leading share in the global market in 2022. The installation of high-end bicycle chains in e-bikes will further boost growth prospects
Some of the leading bicycle manufacturers have started offering customization to cater to dynamic consumer preference. For instance, they can get the bicycles fitted with preferred model of gear with advanced settings as per customer liking. They are also aiming to manufacture chains that can silently mesh across a micro-geared platform
A standard bicycle chain has a lifetime. It wears out that affects its performance after covering certain miles. Timely replacing chains is therefore essential to ensure optimum bike performance
The COVID-19 pandemic has given a major blow to global industries. Outlook for bicycle chain market will remain indefinite for the rest of year. The manufacturing sector has been hit hard due to COVID-19 outbreak and subsequent restrictions. While the sector is limping its way back to recovery, it might be a slow start for manufacturing of bicycle chains

“As mainstream bicycle component manufacturers begin realigning their businesses to keep pace with dynamic environment, the market outlook for new bicycle sales remains positive,” said a lead analyst at FMI.

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Bicycle Chain Market Key Segments

Material

Carbon Steel
Alloy Steel
Nickel Plated

Chain

One Speed
Derailleur

Bicycle

Kids
Road
Mountain
Racing

Width

1/8”
3/16”
3/32’’

Sales Channel

First Fit
Replacement

Regional Outlook

North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of LATAM)
Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
East Asia (China, Japan, South Korea)
South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
Oceania (Australia, New Zealand)
Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Key Challenges

The humble bicycle chain has been around almost as long as bicycle itself. However, some of the market watchers fear that their days might be numbered. No-chain and no-derailleur bicycle are gearing replace greasy and incompetent linkages with their innovative concepts.

Advent of bike that ditches old gear-set and chain altogether with a driveshaft arrangement is a looming threat to the market. Prototype chain-less bikes are already showcased across international forums. This could hamper prospects for the market in the long run.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Automotive Exterior Trim Parts Market Size, Share, Growth Trends, and Forecast Analysis to 2030

Future Market Insights, an ESOMAR certified market research firm, in its latest study on the automotive exterior trim parts opines that the market will reach a valuation of US$ 30.34 Bn by the end of the year 2030.

Newer trends such as embedding of cutting-edge connectivity systems in exterior body parts of vehicles, with weight reduction will continue to give an uptick to body aesthetics in the market for automotive exterior trim parts.

Automotive Exterior Trim Parts Market Outlook & Key Findings

Automotive exterior trim parts market to grow at a CAGR of 4.7% through 2030
Sales in top 3 countries collectively accounted for nearly 46% of overall market in 2022
Compression molded composites touted to be 20%-30% lighter than aluminum will gain traction in new generation of vehicles

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Key Takeaways of Automotive Exterior Trim Parts Market

Achieving light-weighting by 40%, aluminum in body panels to remain preferred over steel
With 54% volume share in automotive production in 2018, China, India and Australia will witness high demand for automotive exterior trim parts
A drop by 200-250 BPS is anticipated for the market amidst the ongoing pandemic with recovery anticipated in the first quarter of 2022
High focus on aesthetics in the mid-size passenger car segment to give traction to sales

Recyclable and Lightweight Materials Finds its Takers

Sustainability and light-weighting are key focal points by manufacturers for design of exterior trim parts.

Aludium, a European midstream aluminum manufacturer has introduced a highly cost-effective exterior trim called as the 55AT that gives a high-end aluminum finish to window frames, roofs and other decorative parts of the vehicle. During casting Aldium uses an advanced filtration system that not only anodises but also brightens the external trim of the vehicle. These products are also provided in very short lead times.

Similarly Norsk Hydro, a Norwegian aluminum manufacturer has launched its CIRCAL range of products that are being made with recycled aluminum scrap. By using very advanced sorting processes the aluminum being used is not only sophisticated but also contains 75% recycled consumer scrap. This has enabled the company to maintain its carbon footprint in the market.

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Automakers Suspend Operations to Keep COVID-19 at Bay

The first quarter of 2020 saw OEMs and manufacturers scrambling to keep production lines for automotive parts up and running as the virus took its hold in Asia and many parts of Europe and North America.

With government advisories being issued, parts and component facilities started to be shuttered at various countries around the world. A dip in discretionary spending and reduced customer footfalls have dampened demand for automotive exterior parts considerably.

While asset impairments are predicted in the near-term. For the time being, quarantine measures, just in time production and reduced workforce is helping manufacturers to obviate the liquidity crunch due to decrease in sales.

Automotive exterior trim parts Market: Segmentation

Product type

Front Bumper
Rear Bumper
Outside Rear View Mirror (ORVM)
Rocker Panel (Under Cover)
Radiator Grills
Wheel arch Cladding (Fender Liner)
Outside Door Handles
Exterior Car Door Trim
Mud Guard
Exterior trims parts

Vehicle Type

Passenger Cars
- Compact
- Mid-size
- Luxury
- Sedan
- SUVs
Commercial Vehicles
Heavy Trucks and Buses

Sales Channel

First Fit
Replacement

Region

North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania

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Find More Valuable Insights on Automotive Exterior Trim Parts Market:

FMI in its new market research study, offers an unbiased analysis of the automotive exterior trim parts market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global automotive exterior trim parts market through four different categories – By Product Type, By Vehicle Type, By Sales Channel and region. The global automotive exterior trim parts market study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the automotive exterior trim parts and product adoption in varied end use industries.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Automotive Coolant Aftermarket is projected to exhibit a CAGR of 4.0% through the forecast period 2020-2030 – FMI

Future Market Insights, an ESOMAR-certified market research firm, in its incisive market study on the global automotive coolant aftermarket opines a 4% CAGR through 2030.

The development of advanced coolant solutions, with non-polluting properties and extended service life are helping in reduction of maintenance costs. This will remain a key imperative, boosting market prospects over the forecast period.

With fewer people resorting to shared mobility services in the prevailing pandemic, high reliance on personal vehicles will spur demand for automotive coolants.

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“With car parc being the primal performance driver of the coolant aftermarket, a drop in new car sales will impact its inflow thus affecting the overall demand for coolants” says FMI analyst.

Automotive Coolant Aftermarket Outlook & Key Findings

Automotive coolant aftermarket is projected to exhibit a CAGR of 4.0% through the forecast period 2020-2030
Sales through independent garages continue to account for a significant chunk of overall revenues
The pervasiveness of car rental businesses is accelerating maintenance and coolant replacement/ top up, creating new growth avenues
Brand awareness activities through event sponsorships, licensing agreements, and tele-commercials key marketing strategy

Key Takeaways for Automotive Coolant Aftermarket Study

Ethylene Glycol-based organic coolants will remain the preferred choice among end-users on back of their cost-effectiveness and high suitability in varying climatic conditions
The high demand for goods carriers from small and medium-sized enterprises in APAC will accelerate demand for automotive aftermarket coolant within this region
Stringent emission norms and miniaturization of engine components will fuel demand for coolants with improved thermal load resistance
East Asia will continue to lead the automotive coolant aftermarket in 2020 capturing 32% of market share
A significant section of consumers are switching to purchase of coolants from online sources to obviate the effects of closed service stations and dealerships

Despite Near Term Uncertainties, Market Slated for Quick Recovery

The current pandemic will offset sales of automotive coolants temporarily. The market is witnessing demand destruction with supply chain disruptions and halted production in the overall automotive sector. Trade restrictions and closed borders have impacted supply and distribution of coolants.

A rapidly evolving consumer dynamic is emerging that is showing markedly different mobility preferences. Shared mobility will decrease and personal vehicle usage will rise.

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Automotive Coolant Aftermarket: Competition Landscape

The Automotive Coolant Aftermarket is a fragmented market with the presence of a large number of global and regional players. Affordability, high-corrosion resistance and longevity will be key factors on which manufacturers will differentiate their product offerings.

Prestone’s AF2100 Extended Life 50/50 antifreeze coolant is one of the top selling coolants in the market. It’s high applicability in automotive rests on its superlative performance. The coolant comes pre-diluted with 50% de-mineralized water and 50% antifreeze thus offering heat protection in temperatures as low as -34 degrees
Motorcraft’s Gold antifreeze coolant continues to be the coolant of choice for Ford owners. The coolant gives protection against heat, cold and corrosion with a longer life and is ideal for gasoline and diesel engines
The G13 coolant by Audi is specially designed for Audi cars and Volkswagen and can be used in the 50:50 ratio which users need to attain using distilled and demineralized water. While more costly, it provides trouble-free service for 4-5 years.
WT SUPRA coolant by Total released this year offers patented carboxylate technology which reduces environmental impact with its non-polluting properties. It also offers extended service life.

Market Taxonomy

Product Type

Organic
Inorganic
Hybrid

Vehicle Type

On-Road Vehicles
- Passenger Cars
- Commercial Vehicles
- Motorcycles & Scooters
Off Road Vehicles
- Tractors
- Construction Based Vehicles (Loaders, Excavators, Bulldozers, Road Rollers, Mobile Cranes)
- Industrial Vehicles (Towing Tractors, Fork Lift Trucks, UTV Carriers)

Sales Channel

Vehicle Service Stations
Independent Garages
Authorized Dealers/ Franchise
Multi-brand Dealers
Online Sales

Region

North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East & Africa (MEA)

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Find More Valuable Insights on Automotive Coolant Aftermarket:

FMI in its new market research study, offers an unbiased analysis of the Automotive Coolant Aftermarket which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global Automotive Coolant Aftermarket through four different categories – By Type, By Vehicle Type, By Sales Channel and region. The global Automotive Coolant Aftermarket study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the Automotive Coolant Aftermarket and product adoption in varied end use industries.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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ADAS Sensors Market is Expected to Reach Approximately US$ 43.2 Bn in Revenues by 2030-End | FMI

Electrification and autonomous mobility have the potential to be game changers for advanced driver assistance systems (ADAS) sensors market, according to a new study by Future Market Insights (FMI).

The amalgamation of the two is set to fuel an astounding 14.1% growth of the ADAS sensors market during the period 2022-2030.

Despite the recessionary headwinds of the COVID-19 crisis, FMI estimates that ADAS sensors market will outpace the overall growth in the automotive sector which is pegged at anywhere between 2%-4% in the same forecast time frame.

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FMI’s analysis suggests that tier 2 players in the ADAS sensors market landscape will benefit greatly by scaling up sensor architecture and embracing technology in analytics, UI and UX.

Greater emphasis on partnerships between OEMs and ADAS systems suppliers will be witnessed in the new-found ecosystem.

Key Takeaways of ADAS Sensors Market Study

High repurchase rate of ADAS sensor equipped passenger vehicles will boost market prospects
Market will see steady revenue streams from OEMs and their suppliers which will remain primal sales channels through 2030
Park assist sensors are set to generate steady revenue streams followed by emergency braking, collision warning and cruise control

“The market will witness soaring sales with effective collaboration between semi-conductor companies and OEMs with best opportunities prevailing in new processor technology and advancements in optical semi-conductors” – says FMI analyst

COVID-19 Impact on ADAS Sensors Sales

The ongoing pandemic has brought all manufacturing activity within the automotive sector to a screeching halt. Decelerated demand for ADAS sensors along with supply chain bottlenecks have heavily impacted the European markets especially in regions such as France, Germany, Italy and Spain.

Many automotive majors and sensors’ suppliers reported a loss of revenues in the first quarter of 2022. With the pandemic showing no signs of abating, leading players of ADAS sensors opine that the market will continue to witness plummeting sales and decelerated demand through the remaining quarters of 2022. Our estimates suggest that vehicle manufacturing is set to fall by as much as 50% in 2022, beholding bleak prospects for the ADAS sensors market in the near term.

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ADAS Sensors Market: Segmentation

By Product Type

Blind Spot Detection
Night Vision Sensors
Light Sensors
Parking Sensors
Cruise Control

By Vehicle Type

Passenger Cars
- Compact
- Midsize
- Luxury
- SUVs
Commercial Vehicles
Heavy Commercial Vehicles

By Sales Channel

Original Equipment Manufacturer (OEM)
Original Equipment Spares (OES)
Independent Aftermarket (IAM)

By Region

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa

Photonic Technologies in LIDAR to Herald a New Era in Autonomous Mobility

Within the fleet and commercial vehicle space there has been proliferation of new technologies. Besides conventional radar and LIDAR sensors, advanced photonic technologies have become the primary enablers in order to achieve very high levels of autonomous control.

MEMS mirrors, and photo detectors and silicon photomultipliers and new photodiodes are novel innovations in the LIDAR system designs helping to better perceive and understand the environment.

These accurate and affordable new designs are augmenting conventional radars and LIDAR for more comprehensive 3D detection.

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Find More Valuable Insights on ADAS Sensors Market:

FMI in its new market research study, offers an unbiased analysis of the ADAS sensors market which comprises global industry analysis for 2017–2021 and opportunity assessment for the 2022–2030. The report offers complete analysis on global ADAS sensors market through four different categories – By Product Type, By Vehicle Type, By Sales Channel and region. The global ADAS sensors market study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the ADAS sensors market and product adoption in various end use industries.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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