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Emergence of technological advancements have enabled the development of industrial valve actuators with remote control features. There has been continuous rise in the adoption of industrial valve actuators across various industries owing to the developments in communication systems, IIoT and sensors. Within an oil & gas industry, valve actuators with remote controlling operations are mostly utilized for deep-well and subsea applications. Further, cost of ownership in end-use industries can be reduced with the help of actuators that are available with in-built sensors.

Even though a long-term increase in energy demand is anticipated, a short-term decrease in demand is also anticipated. Throughout the entire value chain, from production to logistics and distribution, the oil and gas industry is confronted with a number of difficulties. In the recent past, there has been a significant drop in oil barrel prices, manufacturers in the industry need optimization and improvement of processes to increase efficiency while adhering to the strict safety standards attached to the danger of the products handled. Good outcomes will come from small, clever technological advancements and working techniques.

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Key Developments

• In March 2018, IMI Precision Engineering announced that the company will showcase their latest range of IMI Norgen electric actuators
• In June 2015, Rotork launched the 3rd generation IQT intelligent part-turn electric valve actuators
• In May 2015, Rotork launched a new range of compact hydraulic and pneumatic valve actuators, primarily designed to perform in constrained space applications

Market Participants

Production of shale gas in the United States will continue to expand in near future, which, in turn, will lead to increased demand for industrial valve actuators. The aforementioned reasons are anticipated to provide growth opportunities for the manufacturers in near future.

Some of the key players identified across the value chain of the global Industrial Valve Actuators market include General Electric, Schlumberger Limited, Emerson Electric Co., Assured Automation, Honeywell International Inc., Rotork, Flowserve Corporation, Johnson Controls International plc, Schneider Electric, The Danfoss Group, Curtiss-Wright and others.

The global industrial valve actuators market is found to be one of the most fragmented markets as a large number of global as well as regional players are involved in the manufacturing of actuators.

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Significant Investments in the Oil & Gas Projects, Assisting the Demand for Valve Actuators

Growing investments across the value chain of the oil & gas industry is one of the prominent factors likely to support the demand for valve actuators over the near future. For instance, in March 2017, Exxon Mobil Corporation announced that it will invest around US$ 20.0 Bn through 2022 to expand its oil refining plants on the U.S. Gulf Coast.

Moreover, rising production and exploration of new oil & gas fields and augmented investments in refineries and pipelines in the Middle East & Africa and Asia Pacific and Americas region is anticipated to contribute significantly towards the growth of global industrial valve actuators market.

Key Data Points Covered in the Report

Some of the key data points covered in our report include:

• An overview of the market, including background and evolution
• Macroeconomic factors affecting the market and its potential
• Market dynamics, such as drivers, challenges and trends
• Detailed value chain analysis of the market
• Cost structure of the products and segments covered in the market
• In-depth pricing analysis, by key product segments, regions and by market participants
• Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global market
• Analysis of the global market structure, including a tier-wise categorization of key market participants
• Competitive landscape of the market, including detailed profiles of top players in the market

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Regional outlook

The global Industrial Valve Actuators market is segmented into the following regions – North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. Middle East and Africa dominates the market and is expected to follow the same trend in near future owing to surging demand from end-use industries, such as oil and gas. MEA, followed by China, is anticipated to grow at a significant rate in the market in near future. North America and Europe together are expected to account for a small share in the market over the next decade. Japan in the global industrial valve market is anticipated to grow at a comparatively slow rate.

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Ammonium carbonate (E503) is salt and is also known as hartshorn and baker’s ammonia. It is a leaving agent that is used for baked goods, such as cookies, lekuchen, flat biscuits, and crackers. These are not used in cakes since ammonium carbonate imparts bad smell.

It doesn’t leave any salty or soapy taste. Ammonium carbonate is the precursor to baking soda and baking powder and is an essential component in smelling salts. Ammonium carbonate is a non-toxic white crystalline salt.

Further, ammonium carbonate is also used as an emetic and active ingredient in cough syrups intended to dismiss the symptoms of bronchitis. Ammonium carbonates are also used as ingredients in certain smokeless tobacco products.

Ammonium carbonate is used as a leavening agent, mainly in the European Union. It also serves as an acidity regulator. The major factor driving the market being ammonium carbonate can be used as a substitute for baking powder. However, this can affect the taste as well as the texture of the finished products. Ammonium carbonate is intended to use as an ingredient in baked foods.

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These are available usually available in drug and specialty food stores. Ammonium carbonate is mainly used in thin products such as cookies, where the ammonium gas can escape easily. Whereas baked foods such as cake and pie will hold the ammonia gas. Ammonium usually comes in lumps, and they are required to be powdered before use and have to be stored in sealed container.

Global Ammonium Carbonate Market: Segmentation Overview

The global ammonium carbonate market is segmented by application, function type, and product type. By product type, the ammonium carbonate market is sub segmented into reagent grade and technical grade.

Within application section, these are further sub-segmented into food & beverages, pharmaceuticals, cosmetics & personal care, and animal feed. In pharmaceutical segment, Ammonium Carbonate is majorly used in cough syrups, cough relief, and other products.

Global Ammonium Carbonate Market: Drivers and Restraints

One of the primary drivers of the ammonium carbonate market is the increasing demand for processed foods. With increasing demand for organic ingredients in processed food and rising awareness about the ingredients, the demand for ammonium carbonate is expected boost during the forecast period.

However, the major menace is the threat to the environment, and immediate steps should be taken to bind the spread of compound to the environment. Another significant restraint in the global ammonium carbonate market is the stringent regulations which the manufacturers need to follow.

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Global Ammonium Carbonate Market: Regional Outlook

The ammonium carbonate market is segmented by regions into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia-Pacific excluding Japan (APEJ), and Japan.

Few countries in the European Union and Middle-East and Africa, prefer using Ammonium Carbonate in baking food. Ammonium Carbonate is also used in agrochemical additives for manufacturing fertilizers.

Global Ammonium Carbonate Market: Prominent vendors

The prominent players in the global ammonium carbonate market are Bayer CropScience, Monsanto, Shanghai Mingdou Agrochemical Co. Ltd, BASF, Taixing Dongyu Chemical, Yixing Weixing Chemical, Oasis Fine Chem, P J Chemicals, Taixing Experimental Chemical, Syngenta AG, Akash Purochem Private Limited, SinoHarvest Corporation, and Shanghai Tenglong Agrochemical Co. Ltd., among others.

To ensure product differentiation and to gain a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products. Most of the major ammonium carrageenan manufacturers concentrate on capitalizing their funds to maintain applications in the food industry and technical marketing groups are appointed to serve the ever-changing needs of clients.

Global Ammonium Carbonate Market: Segmentation

The global ammonium carbonate market is segmented by product type,

• Reagent grade
• Technical grade

The global ammonium carbonate market is segmented by application,

• Food & Beverages
• Pharmaceuticals
• Cosmetic & Personal care
• Animal feed

The global ammonium carbonate market is segmented by function type,

• Plastic foaming agent
• Leavening agent
• Medical reagent

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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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Some of the other types of thrust bearings are tapered roller thrust bearings, spherical roller thrust bearings, etc. which are have superior load carrying capacity and self-alignment properties. Ball thrust bearings, on the other hand, have relatively less load bearing capacity and are often assisted by another supporting bearing.

The bearing rings provide support and transfer the axial load uniformly. A cylindrical thrust bearing is equipped with spherical raceway in the outer ring with rollers diagonally arranged in a single row. Cylindrical thrust bearings have relatively high axial load carrying capacity and are used on the shaft with high axial load.

The bearing rings provide support and transfer the axial load uniformly. A cylindrical thrust bearing is equipped with spherical raceway in the outer ring with rollers diagonally arranged in a single row. Cylindrical thrust bearings have relatively high axial load carrying capacity and are used on the shaft with high axial load. Ball thrust bearings, on the other hand, have relatively less load bearing capacity and are often assisted by another supporting bearing.

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Market Participants

The global thrust bearings market is assessed to be a fairly consolidated market, with some of the major brands holding highly developed sales and distribution network. Some of the examples of market participants identified across the value chain of the thrust bearing market are SKF AB, Schaeffler Group, THK Company Limited, NSK Limited, JTEKT Corporation, Nachi-Fujikoshi Corporation, RBC Bearings Incorporated, Timken Company, Luoyang Lyc Bearing Company Limited, Federal-Mogul Holdings Corporation, European Bearing Corporation, etc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Thrust bearings are broadly used in a variety of machines, especially in heavy machineries, such as crushers, compounders, extruders and various other machineries. Growing market for mining machines, plastic processing machines, food processors and other associated machines is anticipated to create substantial market for thrust bearings during the forecast period.

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A typical car uses many thrust bearing in wheels, engines, transmission and various other components and thus, growth in automotive production will be an influential factor for the growth of the thrust bearing market. Aerospace applications require high grade bearings to ensure precise and reliable functioning of every component, which results in high replacement rate of bearings and other components.

The global thrust bearing market is anticipated to witness significant growth in near future, mainly driven by rising demand from both OEMs and aftermarkets. Also, growing efforts for developing more reliable bearings are also intensifying the competition among players participating in the global market.

Region-wise Outlook

The estimated size of global bearing market is somewhere between US$ 45 – 50 Bn, with Asia Pacific being the largest market owing to its widespread customer base. Asia Pacific is followed by Europe, North America, Latin America, MEA and Japan. The demand for thrust bearings majorly depends on industrial demand and the demand for repair & maintenance of machines equipped with the designated thrust bearing. At country level, Germany is anticipated to be the largest market in Europe whereas the U.S is anticipated to dominate the demand in North America market. China, Japan and India are expected to grab larger pies in the Asian Market and China is expected to be the most dominant country in the global market.

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Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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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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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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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.

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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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.

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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