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The latest study published by Future Market Insights (FMI) on the vulcanization accelerators market incorporates the global industry analysis for 2014 – 2021 and market opportunity assessment for the forecast period of 2022 – 2029.

The market study divulges decisive insights and offers exhaustive market analysis for the historical as well as forecast period. As per the market assessment in the report, the global vulcanization accelerators market is estimated to witness substantial growth due to growing demand from the tire industry.

The global vulcanization accelerators market was evaluated at ~US$ 1.4 Bn in 2021 and is anticipated to grow with ~4% CAGR during the forecast period i.e., 2022 – 2029. Tire is an irreplaceable automotive component, and its demand has been on the rise over the years.

As tires of heavy vehicles need to be replaced more frequently, the industry is responsible for the maximum consumption of vulcanization accelerators. Thus, growing tire production and replacement activities are estimated to fuel the growth of the vulcanization accelerators market, as reported by FMI.

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Apart from tires, rubber is also used in other automotive parts such as wiper blades, engine mounts, seals, hoses, and belts. Growing automotive production will elevate the manufacturing of automotive rubber parts and components. Thus, increasing the consumption vulcanization accelerators.

Rubber is used extensively in industrial products such as rubber belts, rubber buckets, rubber pads, rubber lining, rubber rollers, and rubber mats, among various other products. Apart from these, rubber finds key application in the manufacturing of medical products such as condoms, surgical gloves, stoppers, tubes, cushioning or supporting materials, breathing bags, implants, prosthetics and catheters, etc.

Thus, growing rubber consumption in medical and industrial sectors is estimated to surge the demand for vulcanization accelerators.

East Asia to Represent Significant Opportunities for Manufacturers

Japan and China are few of the leading tire manufacturing countries. China is assessed to be a prominent tire producer. Presence of companies such as Yokohama Rubber Company and Bridgestone Corporation, makes Japan a substantial tire manufacturing country.

In addition, China’s auto industry has witnessed significant growth in the recent years, leading to subsequent increase in the tire production. However, fluctuating raw material prices due to trade wars and oversupply of materials are affecting local manufacturers.

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Besides, imposition of stringent regulations on tire exports from European countries and the U.S is expected to create further problems for tire manufacturers. However, East Asia is estimated to be a prominent market for vulcanization accelerators, due to increasing sales of passenger and commercial vehicles and rising demand for replacement tires.

Increasing population, improved standards of living, and increasing electric vehicle production will upsurge the demand for tires in East Asia, which will positively influence the growth of the vulcanization accelerators market. Further, increased emphasis on high quality medical and industrial rubber products is expected to propel the demand for vulcanization accelerators in the region.

Thiazoles and Sulfanamides to Remain Prominent Product Choices

The global vulcanization accelerators market has been categorized on the basis of product and application, along with regions.

• Based on product, primary accelerators – thiazoles and sulfonamides, are projected to remain prominent product choices in the upcoming years, and are expected to hold a significant share in the global vulcanization accelerators market throughout the forecast period.
• Although adoption in automotive industry continues to account for relatively high sales, growing application in industrial sector is likely to result in increased market share. Growing tire production and replacement activities as well as automotive industry growth are estimated to augment the vulcanization accelerators market growth.

Vulcanization Accelerators Market: Manufacturer Insights

According to the FMI analysis, the global vulcanization accelerators market is moderately consolidated with global and regional players playing key roles. The global vulcanization accelerators market report shades light on few of the key industry players in the global market.

Some of the examples of key players in the market are Lanxess AG, Arkema, Eastman Chemical Company, Sumitomo Chemical Co., Ltd., NOCIL Limited, and Kumho Petrochemical, among others.

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FMI study finds that the automotive industry slowdown in the past few months has changed the situation. However, government initiatives, tax cuts, and subsidies will continue to drive the growth of the automotive sector, and subsequently of the vulcanization accelerators market. Also, the increasing demand for vulcanized rubber in the manufacturing of industrial & medical rubber goods is expected to raise the demand for vulcanization accelerators.

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A new research by Future Market Insights on the perfluoropolyether (PFPE) market includes global industry analysis 2014-2021 and opportunity assessment 2022-2029. The report explores the perfluoropolyether market and provides the reader with analytical insights for the forecast period of 2022-2029.

As per the findings of the report, the global perfluoropolyether market is projected to experience a steady growth over the forecast period, due to multiple driving factors including increasing aerospace, automotive and electronic manufacturing activities across geographies.

The global perfluoropolyether market is estimated to reach ~ US$ 758.8 Mn in 2022, and increase at a CAGR of ~ 4.3% during the forecast period of 2022-2029. This progress in the market is majorly propelled by the growing consumption of perfluoropolyether as lubricants for automotive, chemical and aerospace applications such as wheel bearing and vacuum pump, and for high temperature procedures.

Sensing an increase in new aircraft deployment, especially in developing countries in Asia Pacific, manufacturers are tapping into newer opportunities in the region. Increasing demand for highly efficient lubricants in chemical and automotive industries is further likely to work to the advantage of perfluoropolyether market players.

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Europe and North America Lead Gains, South Asia to Offer Greater Opportunities

Although the regions such a Europe and North America are anticipated to hold significant market shares, the South Asia market is expected to project a steady growth in the global perfluoropolyether market over the forecast period of 2022-2029.

Moreover, macroeconomic factors such as increment in GDP, air transportation as well as production, expanding chemical industry and significant growth of the manufacturing sector, are expected to reflect significant increase in opportunities for perfluoropolyether market players in South Asia.

Perfluoropolyether Used Extensively in Aerospace and Automotive Applications

The perfluoropolyether market is categorized into four different segments such as form, application of perfluoropolyether, products, and regions.

• By form, the PFPE Oil is expected to hold a higher value as well as volume share against PFPE grease.
• By product, the linear perfluoropolyether is projected to attain a significant value shares in the perfluoropolyether market. Linear perfluoropolyethers are widely used as lubricants for the superior chemical properties and multiple applications.
• In terms of application, aerospace and automotive sectors will continue to account for relatively high market share. Increasing preference towards non-toxic lubricants from the end users is expected to drive the market. Increasing automotive production is expected to increase the demand for PFPE lubricants. PFPE is also used in other applications such as chemical and electronics, and is recently being used for textile as well as leather applications.

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Perfluoropolyether Market By Category

By Form:

• PFPE – Greases
• PFPE – Oil

By Product Type:

• Linear
• Branched

By Application:

• Automotive
• Aerospace
• Chemical
• Electronics
• Others

By Region:

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

Perfluoropolyether Market: Players Insights

The perfluoropolyether market report focuses on a number of stakeholders, some of these players have come out as the market leaders. Few examples of such manufacturers in the perfluoropolyether market are as follows; The Chemours Company FC, LLC, Klüber Lubrication München SE & Co. KG, Solvay S.A., TOTAL S.A., M&I Materials Ltd, HUSKEY Specialty Lubricants, Daikin Industries Ltd., and NYE Lubricants Inc. and FluoroTech USA among various others.

The global perfluoropolyether market is highly fragmented, with multiple tier 2 and tier 3 players. Key players provide perfluoropolyether under their trademarked names such as Fomblin® Series, HUSKEY® PF Series, Vertrel™ XF specialty fluid, Vertrel™ MCA Plus specialty fluid®, and DEMNUM®, among others.

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What was the Impact of COVID-19 Crisis on Global Market of Perfluoropolyether?

With the outbreak of SARS-COV-2 virus all over the globe in the initial quarter of 2020 has resulted in the decrease in the production of automotive, aircrafts and other. Reduce in the movement of the vehicles and aircrafts has impacted the sales of perfluoropolyether significantly in these application segments.

Further shutdown of the manufacturing industries due to social distancing and lockdowns has also impacted the consumption of the lubricants and oil all over the world. However, economic recovery from the second half of the year 2020 and opening of the manufacturing sectors had boosted the consumption resulting in the recovery of the demand.

About FMI

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Our report on the smart bed market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment.

Global sales of smart beds are projected to reach US$ 3.2 billion in 2022 and US$ 5.7 billion in 2032. The market will expand with a CAGR of 5.8% from 2022 to 2032.

The market is driven by the growing penetration of smart homes, demand for higher levels of comfort from developed areas, and increasing investments in sleep technology. The smart bed market analysis includes application segment and geographic landscape.

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This study identifies the rising adoption of technology-driven devices as one of the prime reasons driving the smart bed market growth during the next few years. Also, growth in IoT healthcare applications and rapid growth in the real estate sector will lead to sizable demand in the market.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the smart bed market covers the following areas:
• Smart bed market sizing
• Smart bed market forecast
• Smart bed market industry analysis

This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart bed market vendors that include Arjo AB, Besco Medical Ltd., Hi Interiors Srl, HILL ROM HOLDINGS Inc., Joerns Healthcare LLC, LINET Group SE, PARAMOUNT BED HOLDINGS Co. Ltd., ReST, SK Furniture and Decoraters, Sleep Number Corp., Stryker Corp., Ultimate Smart Bed, Vista Medical Ltd., Boyd Sleep, CVB Inc., Eight Sleep Inc., Glideaway Sleep Products, Invacare Corp., Personal Comfort, and Tempur Sealy International Inc. Also, the smart bed market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers.

The data presented is comprehensive, reliable, and a result of extensive research – both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

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Key Segments Profiled in the Smart Bed Market Survey 

By Distribution Channel:

• Specialty Stores
• Supermarket/Hypermarket
• Online
• Others

By Type:

• Manual
• Semi-Automatic
• Automatic
• Others

By Application:

• Residential
• Hospital
• Hospitality
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

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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According to the latest research from Future Market Insights (FMI), the worldwide sales of sodium caseinate will increase ~5% year-over-year to reach ~270 thousand tons in 2022, up from ~258 thousand tons in 2021.

FMI analysts forecast the sodium caseinate market to grow at a value CAGR of ~4.6% through to 2029, driven by greater demand for functional or fortified foods along with the shift of high-protein trend from niche to mainstream.

The analyst finds that the sheer volume of bakery consumption in recent years has largely contributed the increased sales of different types of protein, thereby potentially raising the demand for sodium caseinate.

Offering whipping and aeration stability to food emulsions, sodium caseinate has garnered significant traction as a viable emulsifier or food additive in various sectors of F&B industry. However, the launch of animal-free emulsifiers in line with emerging trends of veganism and increasing awareness regarding the impact of food production, especially for animal-based products, on environment will represent a potential threat for the market players.

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Sales of Food Grade Sodium Caseinate to Ramp up in 2021

According to the FMI analyst, the consumption of food grade sodium caseinate, especially for dairy, frozen foods, and bakery & confectionery products, continue to influence the growth strategies of the market players, as the category accounted for three-fourth share of the market in 2018.

To tap into opportunities in different end-use industries, ranging from cosmetics to chemical, manufacturers are focused on increasing the production of industrial grade sodium caseinate, which is likely to represent ~5% increase in sales in 2022.

“Sodium caseinate worth ~US$ 480 million were sold as food additive in 2021, while its application as emulsifier is likely to result in increased market share in the foreseeable future,” said the FMI analyst.

“As today’s consumers move towards highly nutrient products which support weight management and counteract the risk of obesity and other lifestyle diseases, F&B manufacturers are increasingly demanding for sodium caseinate as an ideal fat free stabilizer for wide range of products.”

F&B Industry to Unlock New Profit Pools for Market Vendors

The global food industry no longer looks like its former self, as increased incomes, preferential shifts towards health and wellness, and structural shift towards urban living have brought significant transformation in recent years, according to the FMI analyst.

In 2021, the consumption of sodium caseinate by F&B industry accounted for ~70% sales, while the application in pharmaceuticals and cosmetics is likely to witness a quantum leap in growth in 2022 and beyond. Considering the nature and excellent properties of the product including high degree of emulsification, viscosity-enhancing, and foaming and gas retention, manufacturers are exploring the application of sodium caseinate in chemical and other industrial products.

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Key Companies Profiled

• Israel Chemicals Ltd
• AGROCOMPLEX Sp. z o.o.
• Lactoprot Deutschland Gmbh
• Erie Foods International Inc.
• Charotar Casein Company
• AMCO Proteins
• Avani Food Products
• Fonterra Co-operative Group
• Ningxia Yimei Biotechnology Co., Ltd.
• Gansu Hua’an Biotechnology Group

Sodium Caseinate Market by Category

By Product Grade:

• Food Grade
• Industrial Grade

By Application:

• Food Additives
• Emulsifiers
• Free Fat Stabilizers
• Others

By End Use:

• Food & Beverages
• Pharmaceuticals
• Cosmetics
• Chemicals
• Other Industrial

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East Asia to Take Centre Stage in Sodium Caseinate Market

The FMI analyst forecasts that Europe and East Asia are neck and neck to acquire the leading position in sodium caseinate market. Rising consumer interest in the benefits of high quality ingredients in various food products is likely to offer greater opportunities for market players in East Asia.

In 2021, the East Asia market for sodium caseinate market accounted for ~26% revenue to share, and is expected to record ~6% y-o-y growth in 2022. In the global scenario, the sodium caseinate market shows a high level of fragmentation, with a number of global players collectively accounting for 20-25% share.

The emergence of large number of local consumers catering to domestic end users has resulted into contracted profit margins of the international players. Establishing strong relationship to distribution channel partners and strengthening manufacturing facilities continue to key focal points of the manufactures.

Future Market Insights Inc. is Knowledge Partner at Gulf Coatings Show, Sharjah, 17-19 October 2022 where we will be launching our Market Report ‘Coatings 2022: State of the Industry in Middle East’, Register to receive a digital copy of the Market Report and to join our content sessions.

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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Growing demand for oxygen from various industries, including metal fabrication and welding, aerospace and automotive, chemical, metallurgy, construction and steel industries, and the healthcare sector are anticipated to boost the demand of industrial oxygen in the coming decade.

Finds Future Market Insights (FMI) in a recent research study. As per the study, the industrial oxygen market is anticipated to witness a growth rate of 7.9% during the coming assessment period.

Growth in the steel industry is expected to boost the demand for industrial oxygen, as commercial oxygen is used in the production of materials such as stainless steel. Expansion of construction and automotive sectors is expected to indirectly boost the demand of industrial oxygen in the coming years. The growing aerospace industry is also expected to bolster the demand for commercial oxygen in the near future, as liquid oxygen is used as fuel.

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Moreover, the growing healthcare sector also has boosted the consumption of industrial oxygen. During the pandemic, the demand for oxygen witnessed a sudden surge owing to the increasing number of COVID-19 patients all over the globe in the year 2020 and 2021. These factors will prove crucial for continued growth of the global industrial oxygen market.

The market is further anticipated to reach a value of US$ 129.77 Bn by the end of the forecast period. With the growing demand for metals, from the construction and automotive sector, the demand for industrial oxygen is also expected to witness substantial growth, since oxygen is used in the production of steel and alloys.

Key Takeaways from Industrial Oxygen Market Study

• Liquefied oxygen will witness significant growth in demand from aerospace, healthcare, construction, and steel industries. It will hold around 55% of the global value share.
• Growing demand for oxygen for application in chemical processing is also anticipated to bolster sales, accounting for over US$ 8.3 Bn in 2021.
• The North America market is dominated by the U.S., accounting for over 84% of the regional market, driven by relatively higher levels of industrial investment.
• Germany and France hold the lead in Europe, with a valuation of over US$ 2.5 Bn and 2.3 Bn in 2021.
• Driven by developments in the industrial and infrastructure sector, China is expected to remain a key market, accounting for more than 65% of the East Asia value share.

“The healthcare sector has been exhibiting demand for oxygen amid COVID-19 outbreak owing to the critical requirement of oxygen supply for the surging number of covid-19 patients, resulting is supply shortages in many markets,” said a lead analyst at FMI.

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Industrial Oxygen Market by Category

By Product Type:

• Compressed Oxygen Gas
• Liquefied Oxygen
• Oxygen Gas Mixture

By End Use:

• Automotive & Aerospace
• Chemical Processing
• Energy
• Construction & Metallurgy
• Medical & Healthcare
• Food & Beverages
• Welding & Metal Fabrication
• Others

Who is Winning?

Leading players in the industrial oxygen market are focusing on strategic expansions by bolstering production capacity, opening new plants in emerging economies, in addition to collaborations and partnerships to provide high quality products and to increase market presence. These companies are also focusing on strengthening of their product portfolio and developing stronger distribution partnerships.

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Key manufacturers in the industrial oxygen market include but are not limited to Matheson Tri-Gas Inc, Air Products and Chemicals, Inc. Noble Gas Solutions, Air Liquide, LINDE plc, Gulf Cryo, SOL Spa, Messer Group GmbH, Showa Denko K.K., Air Water Inc., Ellenbarrie Industrial Gases Ltd., Taiyo Nippon Sanso Corporation, KOATSU GAS KOGYO CO., LTD., Yingde Gases Group Co., Ltd., Daesung Group, INOX Air Products Private Limited, International Industrial Gases Limited, Axcel Gases, ECHO Gases Pvt. Ltd., Premier Cryogenics Ltd., Bhuruka Gases Limited, Seva Gases Private Limited and Piramala Gases.

Future Market Insights Inc. is Knowledge Partner at Gulf Coatings Show, Sharjah, 17-19 October 2022 where we will be launching our Market Report ‘Coatings 2022: State of the Industry in Middle East’, Register to receive a digital copy of the Market Report and to join our content sessions.

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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Future Market Insights, in its latest report titled ‘Oilfield Chemicals Market: Global Industry Analysis 2014 – 2021 and Forecast 2022 – 2029,’ offers key insights and analysis of the global oilfield chemicals market. The research study conducts an in-depth analysis and provides key market insights on the oilfield chemicals market for the forecast period (2022–2029).

Based on key insights, the oilfield chemicals market is expected to experience significant demand over the forecast period due to an increase in the number of exploration activities worldwide, owing to an increase in the need for energy across the world. The global oilfield chemicals market is estimated to grow at a CAGR of nearly 4% during the forecast period.

Crude Oil Production and Processing Consumes Voluminous Oilfield Chemicals

The increasing number of exploration projects in the countries of Europe and MEA, such as Russia, Kazakhstan, Saudi Arabia, and several others, is estimated to support the demand for oilfield chemicals. These countries have oil reserves, which, in turn, support the demand for oilfield chemicals.

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Furthermore, APAC is a major market owing to the establishment of new refineries to cater to the growing demand for new units in the country. In addition, the increasing demand for refinery and petrochemical products across various end-use industries is an indication for the future demand for efficient crude oil.

To fulfil the demand for crude oil products, vendors have increased their refinery capacities. Attributing to this, manufacturers of crude oil are focusing on expansions as well as on increasing investments on clean fuel. Moreover, a significant volume of oilfield chemicals is utilised in the production and processing of crude oil.

Oilfield chemical act as the backbone of the refinery sector and oil & gas exploration sector across the globe. To meet this cumulative demand, key players of the oilfield chemicals market are expanding their manufacturing and production facilities to emerging regions, such as India & China, with an aim to reduce the operational cost owing to the abundance of economical raw materials and the availability of low-cost labour and in these regions.

‘Inhibitors’ to Remain Preferred Type of Oilfield Chemicals

• Segmentation on the basis of product type of oilfield chemicals: The inhibitors segment is projected to lead the global oilfield chemicals market in terms of value, followed by the gas well foamers segment. In terms of growth rate, the H2S scavengers equipment segment is expected to lead the market with an approximate CAGR of 5% over the forecast period
• Segmentation on the basis of application of oilfield chemicals: The drilling & completion oilfield chemicals segment is projected to lead the oilfield chemicals market by application, and accounts for high demand across the world
• Segmentation on the basis of terrain type: The onshore segment is estimated to capture a higher market share over the forecast period

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Profitability of Asian Markets for Oilfield Chemicals Continues to Rise

North America is a mature and prominent region with significant demand for oilfield chemicals. Asia Pacific is estimated to emerge as a profitable and high-growth region in the oilfield chemicals market. The demand for oilfield chemicals in these regions is also mainly driven by the rising oil & gas exploration activities in the region.

MEA, Eastern Europe, and Latin America are also projected to be above-average growth regions in terms of volume and value, owing to the presence of already established markets in these regions. The market in the Middle East & Africa (MEA) is expected to experience moderate growth over the forecast period as it is an already established market.

Oilfield Chemicals Market by Category

By Product Type:

• Inhibitors
• Lubricants
• De-Emulsifiers
• Viscosfiers
• Gas Well Foamers
• Biocides
• H2S Scavengers
• Others

By Application:

• Drilling & Completion
• Cementing Chemicals
• Stimulation Chemicals
• Oil Production Chemicals
• Enhanced Oil Recovery Chemicals

By Terrain Type:

• Onshore
• Offshore

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Global Oilfield Chemicals Market: Vendors Landscape

The oilfield chemicals market is moderately fragmented owing to the presence of a large number of local and established players. The report provides details of some of the key players in the global oilfield chemicals market, such as Albemarle Corporation, Akzo Nobel N.V., DowDuPont Inc., Baker Hughes, a GE Company LLC, Halliburton Co., BASF SE, Flotek Industries, Inc., Ashland Inc., Schlumberger Limited, Solvay SA, Clariant AG, GEO Drilling Fluids, Inc. Innospec Incorporated, and Chevron Phillips Chemical Company LLC.

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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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Global sales of traction motors reached around 11.7 Billion in 2022. The overall demand is projected to increase at a CAGR of 13.0% between 2022 and 2032, surpassing valuation of 30.0 Billion by 2032. Growth registered in the traction motors market is attributable to the increasing demand for high performance motors from diverse industries such as automotive and electric & electronics.

Additionally, the need for traction motors will remain for decades, owing to the motors’ rotational properties that provide the required torque in engines and machine. Traction motors have been a significant component in various electrical and industrial devices such as elevators, escalators and locomotives.

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The rising trend of incorporating automation to every mechanical operation has propelled the importance of traction motors. The application of traction motors in consumer appliances such as washing machines will continue to fuel the demand in the global market.

Also, the developments in hybrid technology of the combustion engines will integrate traction motors for higher efficiency. The growing demand for vehicles that commute on land, in air and on water will also register the growth in the adoption of traction motors in the global market.

Dynamics of Global Traction Motors Market

The key driver of the global market for traction motors is the extensive application in the automotive and machinery sector. Besides this, the growth of global traction motors is also influenced by factors such as

• Rising demand for efficient power conversion

Under normal conditions, traction motors are efficient in converting a majority of the electrical power into mechanical energy, which assists the locomotive operations such as dynamic braking.

• Increasing electrification of automobiles

The demand for electric vehicles (EV) has gained considerable traction in the automotive industry. As a result, there is a subsequent upsurge in the demand for EV traction motors.

• Varying emission standards

Technological developments owing to the changing emission regulations has generated the demand for engines with reduce emissions. This is steering the demand for more enhanced and fuel-efficient traction motors in the global market.

The only constraints reshaping the dynamics of the market include the operational glitches of traction motors. The overheating of traction motors is one of the major restraints hampering the growth of the global market. The insulation breakdown and the commutation malfunctions are also observed as the factors limiting the adoption of traction motors.

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Leading Industrial Contributors

Expanding the product portfolio by enhancing the existing range of traction motors will be observed as the key strategy by manufacturers. Aisin, ABB, Alstom, General Electric, Continental, Mitsubishi, Magna International, and Toshiba, among others can be regarded as the leading companies in the global market for traction motors.

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, types and applications.

Among the regional segmentation of the global market, Asia Pacific is expected to witness higher production of traction motors, owing to the booming automobile sales in countries such as China, Japan and South Korea. The rising industrialisation in North America is anticipated to promote the use of traction motors in several manufacturing machinery. Also, the advancements incorporated with traction motor technology are also predicted to boost the demand in European countries such as United Kingdom.

Market Segmentation & Regional Overview

Application:

• Transportation
• Industrial machinery and equipment
• Others

End Users:

• Hybrid vehicles
• Compact construction equipment
• Escalators
• Elevators
• Other (Washing machines, Electric Aircraft, etc.)

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

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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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Neopentyl glycol (NPG) market is projected to expand at a 4.6% CAGR between 2022 and 2028, totaling a valuation of US$ 1.93 Bn by 2028. Global neopentyl glycol (NPG) consumption was registered over 680 thousand tons in 2018, which is likely to witness a moderate 4.2% Y-o-Y increase in 2019.

As per the findings of a new research study of Future Market Insights (FMI), neopentyl glycol of technical grade currently accounts for over 95% share in the NPG market and will remain dominant over its pharma-grade counterpart through the course of coming years.

Application in Paints & Coatings Accounts for over 60% of NPG Demand

More than 3/5th of the total consumption of neopentyl glycol is registered by applications in paints and coatings industry, as indicated by the report. In recent years, the use of protective coatings in surface finishing and protection applications has been increasing at a considerable pace, which is in turn favoring the demand for neopentyl glycol for incorporation into coating materials.

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Lubricants and insulation materials are likely to remain the next key application areas for manufacturers of neopentyl glycol and NPG based products. The report also foresees relatively promising opportunities lying in the adhesives and sealants category, over the years to come.

Building & Construction Industry to Accommodate Higher Opportunities

While the collective share of NPG consumption by automotive and transportation, and building and construction industries is currently over 75% of the global consumption of neopentyl glycol, FMI’s analysis opines that the latter will accommodate relatively higher opportunistic potential for neopentyl glycol manufacturers.

Moreover, industrial plant and equipment domain is strongly likely to reflect relatively profitable opportunities for the growth of NPG manufacturing companies in the near future.

With an approximate share of 3/4th of the total consumption of neopentyl glycol, NPG flakes are highly likely to remain the most preferred form in the global market.

Neopentyl glycol slurry, though also is a choice of form among several end use industry operators, will continue to reflect a gradual growth outlook in the NPG market. High convenience quotient, easy usability, and low maintenance in terms of transportation and application will remain the key growth influencers for neopentyl glycol flakes in the market.

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Potential as a Sustainability Vehicle to Propel Consumption of Neopentyl Glycol

The overall growth outlook of neopentyl glycol market will remain promising, majorly owing to a rapid legislative shift toward low/non-VOC chemical compounds, across industries worldwide. Neopentyl glycol is being increasingly explored as a phase change material for potential application in LTHS (latent heat storage) devices, which is cited as a significant opportunity for manufacturers.

In addition, to mitigate the challenges associated with extensive usage of PET (polyethylene terephthalate), the role of neopentyl glycol in the chemical recycling of PET is being tested. According to the report, emergence of such innovative applications will uplift the growth prospects of neopentyl glycol market in coming years.

China, with over a third of the total NPG consumption, is forecast to retain the world’s leading neopentyl glycol supplier – further trailed by the US and Germany. China has also been the most prominent consumer of neopentyl glycol over the years and is likely to discover the highest incremental opportunity in long run, which has been attributed to thriving markets of unsaturated polyesters, coatings and lubricants, and plasticizers within China.

On the other side, Western Europe and North America hold a combined share of around 1/3rd of the total neopentyl glycol consumption in the global market.

Key Manufacturers Eye Production Capacity Expansion

The global neopentyl glycol market is a fairly consolidated competition landscape, which is currently witnessing a major trend of manufacturing capacity expansion. Apart from BASF-YPC’s highly anticipated 2X NPG production expansion project that will go on-stream by 2020, Oxea GmbH also recently announced the NPG expansion project planned for European base. Several key players in the market are prominently concentrating on competitive pricing through distribution/supply agreements with regionally leading end use industries.

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The report has covered detailed strategic profiles of some of the leading companies in global neopentyl glycol market, including BASF SE, Eastman Chemical Company, MITSUBISHI GAS CHEMICAL COMPANY, INC., OXEA GmbH, Wanhua Chemical Group Co., Ltd., TCI Chemicals (India) Pvt. Ltd., LG Chem Ltd., Perstorp Holding AB, Shandong Dongchen Ind. Group. Corp., Zouping Fenlian Biotech Co., Ltd., and Hefei TNJ Chemical Industry Co., Ltd.

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 6-years.

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Future Market Insights recently published a report titled “Tire Materials Market: Global Industry Analysis 2013–2021 and Opportunity Assessment 2022–2028” that offers decisive insights pertaining to the global tire materials market and provides extensive information through organized market research.

According to the report, the global tire materials market has been envisaged to approach the valuation of US$ 100 Bn towards the end of forecast period.

Silica to Witness an Upsurge in Demand with Increasing Production of Green Tires

Synthetic rubber and fillers used in automotive tires have significantly changed over the past decade. Attributing to the rising environmental concerns, many regions have formed regulations that mandate tire labeling.

The implementation of labeling initiatives and growing environmental concerns have led to an increase in the production of high-performance tires or green tires. Regulatory bodies have also laid incentives for manufacturers and consumers with a preference for performance tires.

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Due to the adoption of green technology, silica is extensively being used as a filler material as an effective replacement for carbon black in the recent years. The adoption of silica in the production of green tires has reduced CO2 emissions almost by 7% and increased fuel efficiency. Thus, increasing focus towards the reduction of carbon footprint and greenhouse gas effects is driving the demand for silica in tire production.

Increasing Automotive Production and Ever-rising Size of Vehicle Fleet to Boost the Tire Materials Market

Tires are a vital part of the automotive industry and thus, the production and sales of vehicles directly affect the dynamics within the tire industry. Increasing automotive production in emerging economies has been driving the demand for tires from OEM manufacturers, which has led to an increase in tire production activities. Growing tire production is driving the demand for tire materials. In a vehicle, a tire is one such part that must be replaced frequently, after every 2-3 years.

A tire experiences maximum wear and tear. Further, it is estimated that in FY2017, the global vehicle parc was about 1.3 Billion. Thus, it can be easily concluded that the growing vehicle parc and production will augment the market of automotive tires.

Expansion of the tire industry is expected to fuel the demand for tire materials while the growing fleet size will add to tire replacement activities and indirectly influence the demand for tire materials.

Increasing middle-class population, coupled with rising urbanization in developing countries, is expected to increase the number of vehicle owners as many people will be able to afford vehicles. Apart from this, the increasing youth population has also led to an increase in the sales of automotive, which is a positive sign for the tire materials market.

Also, changing lifestyle and increased standard of living have increased the adoption of high-performance tires as well as branded tires, which is expected to positively impact the tire materials market. The increasing number of vehicle owners will push the growth of both OEM as well as aftermarket segments and thus, the growing demand for tires is expected to boost the tire materials market in the coming period.

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Tire Materials Market by Category

By Material Type:

• Natural Rubber
• Synthetic Rubber
• Fillers
• Process Chemicals
• Steel Cords
• Textile Cords

By Tire Types:

• Solid Tire
• Pneumatic Tire
•  Retreated Tires

By Vehicle Types:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Wheelers

East Asia will Become a Prominent Regional Market for Tire Materials

The global tire industry has been witnessing a shift in tire manufacturing activity, with East Asia and South Asia accounting for more than 50% of tire manufacturing facilities. Easily available raw materials, economic & political stability, and availability of skilled & cheap labor have attracted key tire manufacturers to invest in East Asia and South Asia.

China and Japan are prominent tire manufacturing countries wherein China is estimated to be the leading tire producer and the presence of companies such as Bridgestone Corporation and Yokohama Rubber Company makes Japan a promising tire manufacturing country, owing to which East Asia is estimated to be the prominent market for tire materials.

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North America and Europe tire industries are estimated witness a slowdown in the coming years, due to the increasing competition from Chinese tire manufacturers and their low-ranged products.  However, North America and Europe are anticipated to be potential markets for tire materials, owing to the predominance of key tire manufacturers in the region.

Solvay SA, Lanxess AG, Exxon Mobil Corporation, JSR Corporation, Cabot Corporation, Birla Carbon, and Evonik Industries AG are among the key players identified in the tire materials market.

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 6-years.

Contact Us

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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