Market Research Blog – Page 11017 – New Product Development

Wear Plate Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2021 – 2031-FMI

The market for wear plates is anticipated to grow annually by 5.1% in 2021, reaching US$ 6.9 Bn by the year’s end. To guarantee the equipment’s long-term safety, wear plates are utilised in a variety of end-use industries.

Because it lasts longer than any other steel, it also costs less to maintain. The weight of the equipment is reduced by 30–40% thanks to wear-resistant steel plates. As a result, between 2021 and 2031, the global market for wear plates is expected to grow at a CAGR of 6.3%.
Due to rising demand from end-use applications, North America is expected to maintain its position as a significant wear plate market regionally over the forecast period. Sales in North America are expected to surge at a CAGR of 7.0% through 2031.

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2016-2020 Global Wear Plate Market Outlook Compared to 2021-2031 Forecast

According to Future Market Insights (FMI), the wear plates market is likely to witness robust growth in the near future, on the back of expansion of end-use industries and applications in manufacturing.

On account of growing applications in waste management, pulp & paper, chemicals, and other industries, demand in wear plate market is expected to increase over the forecast period. Subsequently, growing research and development activities will accelerate the growth in the wear plate market.

Historically, the wear plate market grew at 2.0% CAGR between 2016 and 2020. Increasing material cost and lack of professional labour hampered the demand for wear plates in various end-use sectors, severely impacting the growth.

As per FMI, the sales in the wear plate market are likely to increase at a CAGR of 5.8%, in terms of volume over the assessment period of 2021-2031. Growth in the market is attributable to increasing applications in mining, power generation, steel & aluminium mills, and others.

Will Increasing Application in End-Use Industries Propel the Sales of Wear Plates?

Wear plates protect the equipment by coating it with a protective layer. It aids in the prevention of damage and ensures proper usage, extending the usable life of each piece of equipment.

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Every movement creates abrasion as the mechanical pieces, which are usually made of metal, grinding against each other. If it breaks, the replacement cost and the cost of unwanted downtime, will be inefficient.

Protecting the most vulnerable parts of the equipment with protective covers is one way to prevent harm. Hence, end users are providing safe and secure communication between suppliers and customers to protect the machinery.

What are the Factors Restraining the Wear Plate Market Demand?

Lack of raw material is one of the major factor dampening the sales of wear plates, especially in underdeveloped regions. With increasing need for wear plates and rising raw material costs, the market players are expected to witness decline in sales.

New trade and tax rules are putting pressure on producers to satisfy demand, resulting in the spike of raw material prices. This is expected to have a ripple effect across all end-use industries.

Across several countries, strict government actions and the shortage of plate are expected to have a negative impact on the wear plate market.

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Competitive Landscape

Over the past few years, numerous acquisitions and expansion activities has been witnessed to improve the supply of the wear plate market. Several key players are also focusing on improving the efficiency of products for various applications.

Meanwhile, some of the manufacturers are establishing their manufacturing facilities for the untapped potential and to strengthen their global presence, especially in U.S., India, Germany, and China.

For Instance,

In 2021, ArcelorMittal has announced that its Sestao steel facility in Spain will be the first full-scale zero-carbon steel plant in the world. The Sestao facility will produce zero carbon emissions by using green hydrogen and renewable electricity. the Sestao facility – which produces flat steel products for the automotive and construction industries as well as general industry.
In 2021, Bennes Vincent was the first tipper body manufacturer in France to introduce a new Hardox 500 Tuf steel-only product range. Bennes Vincent’s revolutionary “Multi-Blocs” rear tippers have taken the market by storm a year after their launch, promising end-users decreased tare weight, more payload and hence improved profitability.
In 2020, ASGCO is expanding and relocating its headquarters to a new facility in Nazareth, Pennsylvania. ASGCO has purchased 19 acres in eastern Pennsylvania and is now constructing a new facility to fulfill the increased demand for their products and services.

Key Questions Answered in the Report

What is the current size of the global wear plate market?
At what CAGR, the demand will likely grow for the wear plate market during the forecasted period?
What is the total share of wear plate market players?
What is the market outlook of the wear plate market in China?
Which countries are the key consumers of the wear plate market?
What are the key strategies shaping the global wear plate market?

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the 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 based on Source, Application, Sales Channel and End-Use over the next 10 years.

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Pallet Stretch Wrapping Machines Market is estimated at USD 412.5 Mn in 2022, likely to surge at a vigorous 4.3% CAGR

The market for pallet stretch wrapping machines is anticipated to grow in volume at a CAGR of 4.0 percent in the coming years. According to the market synopsis for pallet stretch wrapping machines, the market’s value is anticipated to rise significantly in 2022, with a year-over-year (YoY) growth rate of 4.2 percent.

The Asia Pacific region is estimated to command a considerable market share of more than 30 percent in 2022, dominating the pallet stretch wrapping machines market. The researcher predicts that the Russian market for pallet stretch wrapping machines will grow by 5.0 percent annually in 2022.

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How will the Need of Equipment have used for Unitizing Stretches Drive the Market Demand for Pallet Stretch Wrapping Machines?

Nowadays, the pallet stretch wrappers and other unitizing technologies are equipped with variety of new features to meet customers demand for speed, quality and security across supply chain. Users of end-of-line packaging machines needs machines that can create effective packaging, shipment-safe and secure loads of varying types at increased efficiency. Pallet stretch wrapping machine is such unitizing equipment which requires minimal operator intervention, maintain, operate and reload.

These machines are no longer seen as the machine at the end of packaging line, but is considered as the critical machine at the beginning of logistics and shipping process. This will help in growing demand of pallet stretch wrapping machines. To help develop wrapping standards, manufacturers and suppliers of automated and semi-automated machines offers sophisticated test labs for test analysis. The latest machines are equipped with sensors to detect load height and scale to determine load weight. These innovations help in the growing demand for the pallet stretch wrapping machine.

Which is the Leading End Use Segment in the Pallet Stretch Wrapping Machines Market?

Food & beverage and automotive are leading segments in end-use industry for pallet stretch wrapping machines market, these segments are projected to cumulatively offer an incremental opportunity of USD 65.7 Million during the forecast period 2022-27. Furthermore, the food & beverage segment which is the leading end use for pallet stretch wrapping machines market is projected to grow 1.3 times by the end of 2027.

Competitive Landscape

Leading pallet stretch wrapping machines manufacturers are committed to the research and development of the product and are consistently offering innovative pallet stretch wrapping solutions targeted towards specific end use. Companies operating in the pallet stretch wrapping machines market are aiming at product launches and expansions with other manufacturers.

In February 2021, Robopac S.p.a.’s stretch wrapping and banding machinery obtains customer satisfaction audit recognition by Cerved.
In July 2021, Wulftec International Inc. featured a strapper wrapper combo. It includes a SMART SML-150 semi-automatic low profile turnable stretch wrapper with a VarioaMaster 9440 side seal automatic strapping machine.

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Key Companies Profiled

Hangzhou Youngsun Intelligent Equipment Co. Ltd.
Italdibipack S.p.A.
Fromm Packaging Systems, Inc.
Wulftec International Inc.
Atlanta Stretch Spa
Muller Load Containment Solutions
Arpac LLC
Robopac SPA
Phoenix Wrappers, Inc.
Tosa s.r.l.

Pallet Stretch Wrapping Machines Market by Category

By Machine Type, Pallet Stretch Wrapping Machines Market is segmented as:

Automatic Pallet Stretch Wrapping Machines
- Turntable
- Ring
- Robotic
- Rotary Arm
  - Single Arm
  - Double Arm
Semi-Automatic Pallet Stretch Wrapping Machines
- Turntable
- Arm Wrapping
Specialty Pallet Stretch Wrapping Machines

By End Use, Pallet Stretch Wrapping Machines Market is segmented as:

Food & Beverage
Pharmaceuticals
Consumer Products
Automotive
Paper
Textile
Construction
Chemical

By Order Type, Pallet Stretch Wrapping Machines Market is segmented as:

Customized
Standard

By Region, Pallet Stretch Wrapping Machines Market is segmented as:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Middle East and Africa (MEA)
Japan

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BOPET Packaging Films Market Size : Expanding at a CAGR of 5.5%, the global BOPET packaging films market is projected to increase from a valuation of US$ 6.8 Bn in 2022 to US$ 9.9 Bn by 2029

Polyvinyl chloride (PVC) Packaging Films Market Share: Asia Pacific PVC packaging films market is expected to witness steady growth over the forecast period mainly due to an increasing demand from economies such as India and China

Micro Perforated Films Packaging Market Trends: FMI has projected North America to remain one of the lucrative and developed markets for micro perforated films. One of the key factors supporting expansion is the region’s high food spending.

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IQF Vegetables Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2031

Buyer mindfulness is on the ascent with respect to the utilization of IQF vegetables through different food applications. Most locales are seeing a flood popular because of the healthful advantages of IQF vegetables. As per another report by Future Market Insights (FMI) the IQF vegetables market is set to show a moderate CAGR of 4.5%, arriving at a US$ 2.4 billion valuation before the finish of the appraisal time frame.

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The independently fast frozen (IQF) vegetable market is conjecture to display consistent development, with its general valuation arriving at US$ 1,560.1 Mn in 2021. According to Future Market Insights (FMI) investigation, IQF vegetable deals are relied upon to flood at 4.5% CAGR throughout the evaluation time frame, from 2021 to 2031.

Key Players: B&G Foods Holdings Corp., Capricorn Food Products India Ltd, ConAgra Foods, Inc, Dole Food Co., Greenyard NV, J.R. Simplot Co., Kerry Group Plc., Pinnacle Foods, Inc., SunOpta Inc., Uren Food Group Limited, and other.

Key Takeaways from the IQF Vegetable Market Study

The U.K and Germany have been figure to hold 38.2% offer in the Europe market in 2021.
GCC nations are relied upon to observe the most elevated Y-o-Y development rate going from 5.4% to 10.2% from 2021-2031, supported by interests in industry foundation.
IQF tomato items are relied upon to reflect solid development, upheld by certain customer insight towards puree items.
Broccoli and cauliflower items will enroll a CAGR of 5.1%, supported by request in the food administration area across Europe and North America.
India and China will arise as high expected market, upheld by an immense customer base, but being confined by insufficient virus chain foundation.

“IQF innovation has set out an original development open doors in the frozen food ecosphere. Vegetables handled by IQF innovation have longer timeframes of realistic usability. The undeniably quick moving ways of life of average purchasers have brought about popularity for accommodation food varieties, which thusly has helped the IQF vegetable market develop through 2021,” says a lead examiner at FMI

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IQF Vegetable Market by Category

By Type:

Beans
Peas
Corn and Baby Corn
Broccoli and Cauliflower
Potato
Onion
Tomato
Carrot

By Application:

Food

Bakery, Confectionary & Snack Food
Dairy & Dessert
Cooking food
Ready to Eat Food

Beverage

Juice
Other Non-alcoholic Beverages

Concentrate

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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North America leads the Thin Wall Plastic Containers Market as a result of increasing demand for plastic containers in food and beverage industry

As per Future Market Insights (FMI) analysis, the thin wall plastic containers market worth will reach US$ 32.2 Bn in 2021. Overall thin wall plastic container sales are expected to grow at a CAGR of 5.6% between 2021 and 2031.

North America leads the thin wall plastic containers market as a result of increasing demand for plastic containers in food and beverage industry. The North America market is set to register a CAGR of around 4.1% during the forecast period.As the world is transitioning towards sustainable packaging solutions, the demand for thin wall containers is on the rise.

Future Market Insights (FMI) forecasts that the thin wall plastic container market will experience a year-on-year growth rate of 5.3% in 2021. The global sales of thin wall plastic containers are forecast to grow up to 307,885 Mn units in 2021.

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Future Market Insights (FMI) has published a new report titled “Thin Wall Plastic Containers Market: Global Industry Analysis 2016 – 2020 and Opportunity Assessment 2021 – 2031.” The growing use of thin wall plastic containers can be attributed to the increasing demand from the food and beverages sector.

In order stay competent in the market, key players are constantly focusing on innovation and are looking forward to cater to the needs of consumers as well as the vertical industries. A strong presence of the leading players across several regions and the expertise of specific companies in certain areas is one of the notable characteristics of the global thin wall plastic containers market.

Companies are also focusing on mergers and acquisitions to maintain their position in the global market in the long run. For instance, in 2016, Ball Corporation acquired Rexam plc. The acquisition was aimed at strengthening the production capacity of the former company. The other leading companies operating in the market are Double H Plastics, Inc., ACMEPAK PLASTIC PACKAGING, LTD., Sem Plastik, RPC Group Plc, Mold-Tek Packaging Limited (MTPL), ENGEL AUSTRIA GmbH, and D K Industries.

Expanding production by market players is expected to benefit the global thin wall plastic containers market in the long run. As stated in the report, the global thin wall plastic containers market is expected to witness a CAGR of 5.6% from 2021 to 2031. The market was worth US$ 32,223 Mn in 2021.

Lightweight Packaging to Push Market Revenue Growth

Companies across the globe in different sectors are trying to cut costs and eliminate processes that diminish their bottom line. In comparison to other forms of packaging such as glass or can, a less amount of raw material is used while manufacturing thin wall plastic containers. This helps companies cut down their raw material costs.

In addition to this, thin wall plastic containers can be manufactured in a shorter cycle time which translates to higher productivity and comparatively lower cost per produced part. Furthermore, thin wall plastic containers are used in a variety of applications including medical disposables, electronic hosing and protection among others, which provide a lot of potential for cost savings for manufacturers, suppliers, and retailers in multiple fields.

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As these containers are quite thin, they offer a myriad of design opportunities as well. Moreover, in an effort to meet sustainability goals, companies are concentrating on lighter packaging materials.

On the other hand, snowballing landfills, impairment of the ecosystem, and long-term health problems are some of the harmful effects of plastic containers. Growing oversight by consumers and interest groups over the harmful effects of traditional plastic packaging has made eco-friendly packaging the Centre of the strategic base of the industry.

Many companies operating in the market are banning packaging materials such as plastic and are looking for alternatives of these packaging materials. Various manufacturers are at present focusing on biodegradable packaging. This scenario may negatively impact growth in sales of thin wall plastic containers.

Counterfeit Products to Pose a Threat to the Global Market

Like other vertical industries, the thin wall plastic containers industry too is inundated by the overflow of counterfeit products. The influx of counterfeit products has been recognized as a core problem for the growth of the market in the long run. These counterfeit products are of low quality and can severely harm the well-being of end users. Companies such as Amcor are looking for ways to address this issue while maintaining their originality in the process.

With innovation and uniqueness fighting their way through counterfeit products, it is yet to be seen which one overrules the other.

Thin Wall Plastic Containers Market: Segmentation

Product Type:

Boxes & Bins
Trays
Cups
Lids
Thin Wall Pails
Bowls

Material Type:

Polypropylene (PP)
Polystyrene (PS)
Polyethylene (PE)
High-density Polyethylene (HDPE)
Low-density Polyethylene (LDPE)
Polyethylene Terephthalate (PET)

Manufacturing Technology:

Thermoformed
Vacuum Technology
Injection Molded Technology
Others

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Nylon Films for Liquid Packaging Market Analysis: The global nylon films for liquid packaging market is estimated to value at US$ 454 million in 2022 and is projected to reach US$ 599 million by 2027

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Gas Cylinders Market is expected to reach US$ 8 Bn 2022, likely to surge at a vigorous 8.2% CAGR 2026

In 2022, sales in the global market for gas cylinders are anticipated to reach US$ 8 Bn. By 2026, the market is anticipated to grow at a robust 8.2 percent CAGR and reach US$ 11 Bn in size. Gas cylinders are increasingly being used for a variety of purposes, including water purification, soldering, dispensing beverages, medical applications, heating and cooking, and extinguishing fires. This is likely to increase demand for gas cylinders globally.

In addition, governments around the world are putting strict regulations into place to lower emissions from combustion-engine automobiles. Because so many people throughout the world are buying natural gas vehicles, the need for cylinders is rising quickly.

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According to its recent forecast study, the global gas cylinders market is estimated to grow at a vigorous 8% CAGR in terms of value over the period, 2017-2026. Advanced safety features and effective storage capabilities of gas cylinders will play a key role in driving their sales during this assessment period. The report has further projected that gas cylinders sold across the globe by the end of 2026 will bring in revenues worth over US$ 11 Bn.

Superior Safety Features of Type I Cylinders to Drive their Adoption

In addition to their end-use in storing CNG and other fuels, gas cylinders are being widely used in bulk gas transportation operations. High stakes associated with such operations has spurred the use of type I gas cylinders. Advanced safety features of type I gas cylinders make them a sought-after for eliminating the risks of accidental gas leaks.

Light weights of type I gas cylinders are also adding to their competitive advantage over other types of gas cylinders by supporting a fuel-efficient transportation of gases. High quality fabrications and powder coating technologies employed in the manufacturing of type I gas cylinders have extended their capabilities for being resistant to extreme corrosions. Throughout the forecast period, approximately 40% of the global gas cylinders market value will be accounted by the sales of type I gas cylinders.

Rapid Growth in Demand for Gas Cylinders Wrapped with Aramid Fibres and Carbon Fibres

The report observes that sales of wrap less gas cylinders will bring in the largest share of revenues in the global market throughout the forecast period. By the end of 2026, wrap less gas cylinders worth over US$ 5.2 Bn are pegged to be sold globally. However, the report foresees a rapid growth in demand for gas cylinders equipped with carbon fibre and aramid fibre wraps.

Thermal stability of aramid fibres will drive their application in the wrapping of gas cylinder openings. Similarly, excellent strength-to-weight ratio of carbon fibres will extend their use as gas cylinder wrapping materials. Over the forecast period, carbon fibre-wrapped gas cylinders will register fastest revenue growth at 9.3% CAGR, while sales of aramid fibre-wrapped gas cylinders will bring in more than US$ 1.6 Bn by 2026-end.

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The type of gas being stored and the size of the cylinder will also play a key role in influencing the sales of gas cylinders. In 2018 and beyond, the demand for gas cylinders with 6kgs and 14kgs sizes will soar at a considerable rate, the revenues from which will account for nearly one-third of global gas cylinders market value. The report further reveals that majority of gas cylinders manufactured in the world will be used to store flammable gasses. In 2017, nearly US$ 1.3 Bn worth of gas cylinders sold globally were used for storing flammable gases.

Gas Cylinders Market by Category

By Cylinder Type:

Type I
Type II
Type III
Type IV
Type V

By Wrap Type:

Wrap Less
Glass Fiber
Aramid Fiber
Carbon Fiber
HDPE

By Size:

3 kgs
4.5 kgs
6 kgs
9 kgs
14 kgs
17 kgs
19 kgs
21-34 kgs
35-48 kgs
Other Sizes

By Gas Type:

Inert Gases
Flammable Gases
Toxic Gases
Pyrophoric Gases
Oxidizers

By Region:

North America
Europe
Latin America
Asia Pacific excluding Japan
Japan
Middle East and Africa

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Specimen Transport Bags Market Trend: The specimen transport bags market is expected to record a CAGR of 9.8% during the forecast period 2022-2032

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Industrial Pails Market will reach around US$ 9,300 Mn in value in 2026 and will show a moderate CAGR

This Future Market Insights report on global industrial pails market forecasts that the global industrial pails market will touch a valuation of nearly US$ 9,300 Mn in the year 2026 and exhibit a moderate CAGR during the period of assessment.

Future Market Insights has done an extensive research on industrial pails revealing the current market scenario and their adoption across various industries. Moreover, the research also focuses on the future prospects in the global market for industrial pails.

Various developments and key trends are covered in the research report on industrial pails that have an influence on the global market’s growth. Various aspects impacting growth and adoption of industrial pails have been covered in the research study. Based on these factors and their respective magnitudes across various regions in the globe, a future market projection on each segment ad sub segment of the market is presented that can assist the reader in slating key strategies and decide on future steps to expand their footprint at a global level.

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Pail is essentially a cylindrical container used in various industrial packaging applications for the purpose of transportation or shipping. These containers have either slanted sides or straight sides with a bail or handle and lids. Industrial pails come in different sizes depending upon the amount of material they are intended to carry. Moreover, various materials are used to manufacture industrial pails basis the nature of goods they transport and the industry they are being used for.

High Density Polyethylene Material Type Segment to Touch a Value of Nearly US$ 950 Mn in 2026

As per the forecast of Future Market Insights, the high density polyethylene material type segment is expected to reach a valuation of nearly US$ 950 Mn by the end of 2026. This represents a moderate CAGR during the forecast period of 2017-2026. The high density polyethylene material type segment was expected to account for more than one-tenth of the revenue share of the material type category by the end of the year 2017 and is expected to gain market share by the end of the year 2026.

APEJ Market Set to Dominate the Global Industrial Pails Market in Terms of Revenue

The market in APEJ is set to dominate the global industrial pails market in terms of value and this trend is projected to sustain itself throughout the period of assessment. APEJ industrial pails market is the most attractive market, growing at a robust CAGR during the assessment period.

Competition Tracking

The report also profiles the companies that are expected to remain active in the expansion of global industrial pails market through 2026, which include

SCHÜTZ GmbH & Co.,
Grief Inc.,
Mauser Group B.V.,
Orora Packaging Australia Pty Ltd,
Balmer Lawrie & Co. Ltd,
Industrial Container Services,
Delta Containers Direct Limited,
FDL Packaging Group,
Fibrestar Drums Ltd and
Sonoco

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Market segmentation

The global market for industrial pails has been segmented by material type, capacity, end user and by region.

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Material Type

High Density Polyethylene
Low Density Polyethylene
Polypropylene
Steel
Aluminium
Tin
Other Materials

Capacity

1 Gal
3 Gal
4 Gal
6 Gal
9 Gal
10 Gal
12 Gal

End User

Agriculture
Chemical
Pharmaceuticals
Food & Beverage
Petrochemical
Building & Construction
Plastic & Rubber
Automotive
Mining & Metals

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Europe Water Pump Market: Notable Developments & Geographical Outlook-FMI

According to estimates, the Europe Water Pumps Market will increase annually (YoY) by 3.8% and reach $8 Billion in 2021. The study predicts a 3.6% CAGR in demand for water pumps in Europe between 2021 and 2031.

The market for water pumps in Europe as a whole will see sales of axial and mixed flow pumps rise by over 4.3% CAGR. By 2020, sales of water pumps would account for 53% to 55% of all pumps sold in Europe.

As per Future Market Insights (FMI) analysis, the Europe water pumps market is projected to be valued at ~US$ 11.4 Bn in 2021, expanding at a CAGR of ~3.6% over the forecast period of 2021-2031.

Pump manufacturing is a thriving industry driven by both small and large enterprises in Europe. These end-use sectors are confronting rising energy conservation demand as well as far-reaching environmental issues in the fight against climate change.

Water and wastewater treatment has been the most receptive sector among the various industrial verticals in terms of adoption, with significant expenditures made and planned towards facility modernization, which includes asset monitoring and integration of industrial internet of things (IIOT).

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Several organizations have been actively upgrading their water treatment plants with smart pumps. As a next step, companies have planned to invest in IIoT based solutions that helps to acquire and interpret the data generated from these assets with power of algorithms and machine learning capabilities that aids to predict failures, increase productivity and drive innovation.

However, the degree of investment in IIOT is largely governed by the water sector’s legal framework.

Key Takeaways of Water Pumps Market Study

As per Future Market Insights, Germany, U.K. and Russia are key markets accounting for nearly half of water pumps sales in the Europe market value share in 2021.
The Water Pumps market in U.K. is expected to rise at nearly 2.8% CAGR over the forecast period. Overseas customers prefer manufacturing and engineering expertise of U.K. over other countries.
The value share of 2 HP water pumps is more than one-fourth of the Europe market. These high pressure pumps are used in agriculture and irrigation applications, easy to operate, can be suitable for potable purposes as well as the robustness and durability makes it preferred choice among the end-users.
Water pumps market is a highly consolidated with the top players holding nearly 65-70% of water pumps sales within Europe.

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“Studies and research have been conducted in recent years to offer improved energy-efficiency in water pumps. Energy and environmental concerns can provide an excellent foundation for pump application innovation and European pump manufacturers are leading the way in this field. EU legislation has mandated minimum energy efficiency requirements for clean water pumps and circulators, which is expected to positively affect the market growth,” says a Future Market Insights analyst.

During the forecast period, water pumps market is expected to be aggressively driven by automation. With the positive influence from industry 4.0 and the rising implications of quality management systems to enhance efficiency of operations and reduction of error rate, there will be surge in sales of Water Pumps and manufacturers are likely to generate higher revenues from Water Pumps.

Competitive Landscape

The market for Water Pumps in Europe is extremely consolidated, with the top players accounting for over 65-70% of the market in 2020. These market participants are vying to expand their geographic footprints by targeting new markets in European countries.

They are integrating IOT enabled technology to track the runtime and optimize equipment efficiency. Some of the key players in the market include tier-1 companies such as Xylem Inc, Grundfos, Flowserve Corporation, Andritz Group, Ebara Corporation, KSB AG, Sulzer Ltd, Gormann Rupp, Franklin Electric and ITT Inc.

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Between 2016 and 2020, the Europe water pumps market expanded at a CAGR of over 0.5%. Many of the significant advances in pump technology have their origins in long-established European enterprises, which have been aided by a variety of specialist technical groups as well as government funding.

Pump production is one of the few industrial sectors in which Europe continues to perform at least on pace with, if not better than, its worldwide competitors.

It has enjoyed a strong positive trade balance with other major alliances in Asia and the Americas for many years, and it continues to do so.

Future Market Insights (FMI) expects the europe water pumps market to expand at over 3.6 % CAGR through 2031.

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Painting Robots Market 2022 Industry Research, Segmentation, Key Players Analysis and Forecast to 2025-FMI

The global painting robots market is expected to increase 8.3% year on year (YoY) to US$ 2.9 billion in 2021. According to the study, demand for robotic arms would grow at an 8.8% CAGR between 2021 and 2031, providing tailwinds for the painting robots market.

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Between 2021 and 2031, overall sales of painting robots will expand at a CAGR of 10.1 percent. By 2031, East Asia and Europe are expected to account for more than half of global demand for painting robots.

The painting robots market will register increasing growth as a result of high demand from various industries including HVAC, furniture, sanitary ware, textiles and heavy engineering equipment.

Industries are exhibiting high demand for flexibility in automation systems to move beyond traditional manufacturing processes, especially for automotive and electronics manufacturing. Application of painting robots is expected to grow in the automotive sector as a result of higher electric vehicle production.

According to the study, Germany, the U.S., and Japan are likely to emerge as highly lucrative market for painting robots. Surging automotive sales in Germany will remain a chief growth driver.

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Key Takeaways of Painting Robots Market Study

The painting robots market size will reach US$ 2.92 Bn in 2021
The U.S. will emerge as a highly lucrative market, creating an absolute dollar opportunity of US$ 334 Mn by 2031
Demand for painting robots will grow by 12.7% CAGR in Germany
China will lead sales of painting robots in East Asia. Demand for painting robots in China will grow by 7.3% CAGR between 2021 and 2031
Japan and South Korea are expected to account for 16% of sales in the painting robots market in 2021.

“With manufacturing sector exhibiting high demand of painting robots, market players are expected to focus on customizing features to cater to specific industry requirements. Besides this, they are expected to use diverse marketing platforms for product positioning,” said a FMI analyst.

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During the forecast period, the painting robots market is expected to be aggressively driven by demand for automation. With the positive influence from industry 4.0 and the rising applications of quality management systems to enhance efficiency of operations and reduction of error rate, there will be surge in sales of painting robots in the coming years.

Competitive Landscape

The global market for painting robots is identified to be extremely consolidated, with the top manufacturers controlling about 75-80% of the overall market. Market players are competing to increase their global footprints and collaborate directly with end users.

By providing speed and scalability through their goods, they are producing economic solutions and addressing production issues for their customers. The major players are also focusing on value added services to establish robust service network.

Furthermore, painting robot manufacturers are adopting key supply trends such as easy integration of robots into customers’ systems, easily programmable robots, and flexible deployment to gain competitive edge.

Some of the key players in the market are Dürr AG, ABB Ltd, Kuka AG, Fanuc Corporation, Kawasaki Heavy Industries Ltd, and Yaskawa Global.

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Sourdough Market 2022 Key Players, End User, Demand and Consumption by 2026

The US$ 3.2 Bn sourdough market will continue to be positively influenced by increasing application in bread production. Of the US$ 3.2 Bn worth of sourdough sold in 2016, demand from the bread segment totalled US$ 2.36 Bn. This segment is projected to increase at a US$ 6.17 Bn through 2026 at CAGR of 6.8%. The dominance of the bread segment can be gauged from the fact that other key application segments – pizza, buns, cakes, cookies, and waffles & pancakes – collectively accounted for nearly 27% revenue share.

Western Europe continues to the largest market for sourdough, accounting for nearly 38% share of total revenues in 2016. Adoption of sourdough in Western Europe food manufacturing units continues to remain strong.

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Future Market Insights estimates the Western Europe sourdough market to increase at a CAGR of 7.1% through 2026. In terms of revenues, the market is projected to grow 2X from its 2016 market valuation of US$ 1.21 Bn. In terms of volume, over 552 thousand tonnes of sourdough was sold in 2016; FMI estimates it to reach over 975 thousand tonnes in 2026.

Opportunities in the Global Sourdough Market

Increasing demand for clean-label products has presented a lucrative opportunity for businesses
Use of sourdough is also gaining traction owing to its application in preparation of foods that require fermentation

Key Supply-side and Demand-side Drivers

According to Future Market Insights’ report, demand for sourdough is increasing on account of its beneficial functional properties. Its property of enhancing flavour and texture is a key factor for its applications in the F&B sector, especially bakery sector
Increase in the number of artisan bakeries is positively influencing the demand for sourdough. Particularly high demand for type 1 sourdough – made using only wild yeasts – is being witnessed in artisan bakeries
Availability of sourdough products on e-commerce stores is also contributing to increasing sales
Growing demand for sourdough from the fast food and bakery sector is creating sizeable growth opportunities for manufacturers

High cost of sourdough products is a major impediment to their widespread adoption in developing countries.

Key Trends Expected to Shape Global Sourdough Market

Dehydrated sourdough (Type III) is gaining traction in the bakery industry. Freeze-drying remains the preferred dehydration technique for manufacturers.
Manufacturers are using devitalised sourdough for enhancing the aroma of products. Devitalised sourdough does not contain live organisms, enhancing its use as an aromatic agent
Consumer demand for healthy food products has resulted into the launch of chocolate sourdough loaves. Further, Future Market Insights identified increasing use of type I sourdough.

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Sourdough Market Forecast and Analysis by Starter Culture

Type III starter culture currently accounts for nearly half of the revenue share of the global sourdough market. Over 773 thousand tonnes of sourdough was sold in 2016; by the end of the forecast period, Future Market Insights estimates global volumes to surpass 1.3 million tonnes.

Key companies profiled by Future Market Insights in its report include Puratos NV, Ernst Böcker GmbH & Co. KG, IREKS GmbH, Kampffmeyer Mühlen GmbH, Philibert Saveurs, Lesaffre, Dilbeek, Minden, Kulmbach, Hamburg, Pont-de-Veyle, and Marcq-en-Barœul.

Future Market Insights maintains a positive outlook on the global sourdough market, projecting it to grow by 6.8% CAGR through 2026 in terms of value. In terms of volume, demand is projected to grow at 5.5% CAGR.

Key segments covered in the global sourdough market report

By Application

Bread
Pizza
Buns
Cakes
Cookies
Waffles and Pancakes
Others

By Region

North America
Western Europe
APEJ
Latin America
Eastern Europe
Middle East and Africa
Japan

By Starter Culture

Type I
Type II
Type III

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Magnetic Drive Pump Market 2022 Production Analysis – Key Players-FMI

The global magnetic drive pump sales are projected to top US$ 807.9 Mn in 2021, as per ESOMAR-certified research and consulting firm Future Market Insights (FMI). With steady growth outlook, the market is poised to register CAGR at nearly 5.3% during 2021-2031.

The COVID-19 outbreak reduced demand for global magnetic drive pumps in 2020. The market’s long-term outlook is expected to remain positive as the construction industry recovers. The expansion of the construction and mining industries is expected to increase demand for heavy machinery and equipment, resulting in higher magnetic drive pump market sales. According to FMI, increasing application in the construction and mining industries will continue to grow in China, India, and Indonesia.

According to FMI’s analysis, rapid adoption of technologically advanced equipment and machinery, as well as increased application for water treatment activities, will boost sales. Because of the aforementioned factors, the market is expected to exceed US$ 1.35 billion by 2031.

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Key Takeaways:

In terms of pump type, the centrifugal pumps segment is projected to hold 52.6% of the total magnetic drive pump market share.
Applications of magnetic drive pumps are anticipated to continue rising in the water treatment and mining sector, accounting for 15.6% and 13.3%, respectively.
Stainless steel is expected to remain the most-preferred casing material for magnetic drive pump services
China is anticipated to emerge as an attractive market, capturing 40.2% of the East Asia magnetic drive pump market share.
Germany is projected to lead the Europe’s magnetic drive pump market, growing at a 5.1% CAGR.
India will continue experiencing high demand for magnetic drive pumps, capturing 31.8% of the South Asia Pacific market share.
Japan and South Korea will collectively account for 8% of the global market share.

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“Integration of advanced technology due to focus on automation in construction and mining industries is pushing the sales of advanced magnetic drive pumps. CAPEX investments and increase in water treatment projects also are expected to provide lucrative opportunities for the magnetic drive pump market. Steered by this, some of the leading OEMs are investing in strategic alliances, partnerships and product innovations to gain competitive advantage in the global market. These partnerships will allow companies to improve their production capacity and strengthen their technical expertise,” says FMI analyst.

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Competitive Landscape

The market is expected to be primarily consolidated, with key players accounting for more than half of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.

Some of the key players in the market are

Ebara Corporation, Flowserve Corporation, Kirloskar Brothers Limited, ITT Goulds Pumps Inc., Iwaki Co Ltd., Klaus Union, March Manufacturing, Ruhrpumpen Inc., Sundyne LLC, Xylem Inc., PRECISION ENGINEERING CO., Grosvenor Worldwide Private Limited, GCA Energy, Magnatex Pumps, Inc., Grundfos Pumps Corporation, TEIKOKU ELECTRIC MFG. CO., LTD., ELEPON E.C.A.P. Corporation, NIKKISO EIKO Co., Ltd., etc.

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