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Condition Monitoring System Market Newly released data from Future Market Insights (FMI) has forecast the global demand to increase by year-on-year (YoY) growth of 7.6% in 2021 to total 3.8 million units. The vibration analysis segment will grow by 7% to 1.7 million units by 2031, while the demand in the infrared thermography segment will increase by 8.4% CAGR to hit 786,550 units over the assessment period.

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with a steady long-term projection, according to the latest insights by Future Market Insights.

The report estimates the market to expand at 7 to 8% CAGR from 2021 to 2031 Power generation segment, automotive segment, chemical, and petrochemical segments revenue totaled US$ 2,062.1 million for 2021, according to the annual market analysis conducted by Future Market Insights.

Consistently rising demand from chemical and petrochemical and power generation industries will create prospects for growth of the market through the forecast period. The need for systems to monitor machinery equipment amidst aging population of factory workers. Also, a major factor driving the market historical period 2016-2020.

Demand for condition monitoring system slightly decreased because of shutdowns of various manufacturing plants amid COVID-19 induced restrictions. Although the need to ensure efficient running of equipment to future proof, the operations has resulted in a lesser drop as compared to other product markets.

The benefit of gaining insights in real-time and unexplored data sources throughout the pandemic without being actually present in the plant has also contributed to higher sales.

Condition Monitoring System Market Key Takeaways from FMI’s Study

The global condition monitoring system market witnessed a slump in 2020 because of the COVID-19 pandemic, with a recorded growth of -2.3%. The market in the South Africa is projected to expand at a CAGR of around 5.3%, while that in the Mexico at close to 6.3%, through 2031. The market in India and Germany will surge at greater than 8% CAGR over the next ten years. Sales in the U.S. will continue increasing, accounting for over 80% of demand registered in North America. Rising application across various industries will seal China’s dominance in East Asia.

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“Aging and depreciation of machinery and continued OPEX based investments by various industries, primarily incurred on repair and maintenance of machineries, are driving the condition monitoring market,” says a Future Market Insights analyst.

Condition Monitoring System Market by Category

By Technique:

Corrosion Monitoring Infrared Thermography Motor Condition Monitoring Oil Analysis Ultrasound Testing Vibration Analysis

By Application:

Aerospace and Defense Automotive and Transportation Chemical and Petrochemical Food & Beverage Marine Mining and Metal Oil and Gas Power Generation

By Region:

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

Competitive Landscape

The market is understood to be highly merged, with key players accounting for over four-fifth 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 this industry are

Schaeffler Technologies AG & Co., Kirloskar Brothers Ltd, Siemens AG, Honeywell International Inc., ABB Ltd., Emerson Electric Co., Rockwell Automation, Inc., Fluke Corporation, Parker Hannifin Corp, General Electric, AB SKF amongst many others.

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Find More Valuable Insights

The research report analyzes demand for condition monitoring system. The global condition monitoring system market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed based on product type, application, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

As per Future Market Insights (FMI), the global pet milk replacers market is projected to reach US$ 192.7 Mn in 2021. New pet parents are embracing the trend of pet humanization, resulting in increasing expenditure on pet products and accessories.

Growing preference towards sustainable and nutrient-rich pet feed is propelling sales of pet milk replacers. FMI projects the market to grow at a robust 7.10% CAGR through 2031.

The advent of the novel COVID-19 pandemic led to dampened sales of pet milk replacers due to restrictions in movement and disrupted supply chains. However, FMI projects a positive demand outlook for the pet milk replacers, as the market experienced year-over-year growth by 6.30% from 2020 to 2021.

Pet milk replacers are emerging as beneficial additions to pet diets. Pet milk replacers are generally fed to puppies and kittens to meet the need for nutrition which is lacking in cow or goat milk.

Most dog breeds and feline species are allergic to cow’s milk. Having highly sensitive digestive systems, these animals are susceptible to gastrointestinal issues which can even lead to severe outcomes.

As people are getting highly conscious about pet health, sales of pet milk replacers are anticipated to continue gaining momentum throughout the assessment period. According to FMI’s market survey, non-medicated pet milk replacers will remain highly sought after through 2031.

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As per FMI’s regional analysis, sales of pet milk replacers in the U.S. are anticipated to witness an uptick in the upcoming decade. Growth in the market can be attributed to higher disposable income in the country and the penetration of leading players.

“Demand for sustainable food alternatives for animals, coupled with innovative product launches from key stakeholders to improve nutritional content in pet milk replacers will continue augmenting market growth through 2031,” says the FMI analyst.

Key Takeaways from the Pet Milk Replacers Market Survey:

• Based on product, sales of non-medicated pet milk replacers are projected to hold the lead through 2031.
• Powdered pet milk replacers will dominate the market, due to convenience in terms of transport and logistics.
• The U.S. is projected to emerge as a lucrative market, with the North America market expanding at a 4.90% CAGR.
• Germany will lead the Europe pet milk replacers market. As per the market analysis, Europe is anticipated to exhibit a steady 5.60% CAGR.
• Demand for pet milk replacers in China are expected to be positive, with increasing expenditure on pet food and accessories in the country.
• Japan and South Korea will account for 4.9% and 3.2% of the total market share respectively.

Competitive Landscape

Cargill, Incorporated, Archer Daniels Midland Company, Glanbia plc, CHS Inc., Nutreco N.V., Pet-Ag, Inc., Land O’Lakes, Liprovit BV, Calva Products, LLC, and Jordan Agri Limited. are among the leading players operating in the pet milk replacers market.

As a part of their growth strategies, leading players in the market are emphasizing on product development and production facility expansions to fulfill the growing demand. Acquisitions and collaborations will hold significance among market players. For instance:

• In July 2021, Archer Daniels Midland Co. announced its plans to acquire Serbian agribusiness company Sojaprotein. The company intends to expand its diverse product portfolio with this acquisition, improving its meat alternatives, confectionery, pharmaceutical, and pet food segments.

• In April 2020, Pet-Ag, Inc. inaugurated its fully operational production and distribution facility in Hampshire, Illinois. The 157,000 square-foot building consolidated two of Pet-Ag’s production, research, and administrative locations in Kansas City.

More Insights into the Pet Milk Replacers Market Report

In its latest report, FMI offers an unbiased analysis of the global pet milk replacers 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 pets (dogs and cats), product (medicated and non-medicated), form (liquid and powder), and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

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Key Questions Answered in the Report

• What is the current pet milk replacers market value?

The pet milk replacers market reached a valuation of US$ 192.7 Mn in 2021.

• At what rate did the pet milk replacers market grow between 2016 and 2020?

The pet milk replacers market experienced positive growth, exhibiting a 6.30% CAGR between 2016 and 2020.

• What are the key trends driving pet milk replacers sales?

Growing prevalence of pet humanization, coupled with longer shelf life and convenience of pet milk replacers are key growth accelerators in the market.

• Who are the leading players in the pet milk replacers market?

Leading players operating in the pet milk replacers market include Cargill, Incorporated, Archer Daniels Midland Company, Glanbia plc, CHS Inc. and Pet-Ag, Inc.

• What will be the demand outlook for the North America pet milk replacers market?

The North America pet milk replacers market is anticipated to grow at a steady 4.90% CAGR during the forecast period.

• At what rate will the sales of pet milk replacers grow in Europe?

The pet milk replacers market in Europe is expected to exhibit a healthy 5.60% CAGR through 2031.

• What is the market share of leading players in the pet milk replacers market?

The top 5 players in the pet milk replacers market collectively account for approximately 15-25% of the global market share in 2021.

• Which are the top countries driving the sales of pet milk replacers?

Top countries in driving the pet milk replacers market sales are the U.S., France, Germany, China, and Brazil.

• What is the current market share of Japan and South Korea in the global pet milk replacers market?

Japan and South Korea will account for 4.9% and 3.2% of the total market share respectively.

[252 Pages Report] Sodium lactate market revenue totalled US$ 158.7 Mn for 2021, according to a study by Future Market Insights (FMI). The overall sodium lactate sales are expected to reach US$ 368.3 Mn by 2031, growing at a CAGR of 8.8% for 2021 – 2031.

The demand for liquid form of sodium lactate will accelerate in the coming years, as competition continues to soar. FMI also has forecast the key players to hold 54.3% of the share in 2021.

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Increasing safety concerns have encouraged governments around the world to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have been created with the intent to keep an eye on chemical additives and contaminants in food supplies. This is expected to create attractive opportunities for growth.

The global sodium lactate market is estimated to be US$ 158.7 Mn in 2021, registering high growth through the forecast period (2021-2031)

Sodium lactate find extensive applications in the food & beverage industry, pharmaceutical and cosmetic and personal care products owing to its superior properties and cost-effective nature. As per a new study by Future Market Insights (FMI), the demand for sodium lactate will increase by 8.8% between 2021 and 2031.

Focus on reducing the cost of production to offset the high feedstock cost and gain competitive edge among leading players will bode well for the market. Moreover, manufacturers are expanding their manufacturing capabilities and increasing their exports to make deeper inroads in markets with unmet needs.

Key Takeaways from Sodium lactate Marker Study

• Liquid form by form type is expected to contribute more than 54% of revenue share to the market.
• By application, food & nutritional supplements held the highest market share in 2021 due to diversifying the application of sodium lactate in the food industry.
• North America holds a t share of over 38% in the global sodium lactate market.
• Germany is expected to remain the dominant market for sodium lactate in Europe, accounting for over one-fourth of sales through 2031.
• China will continue leading the East Asia market, exhibiting double-digit growth through the forecast period.

“Diverse applications of sodium lactate across diverse industries, from pharmaceutical to the food sector will drive the sodium lactate market,” says a FMI analyst.

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Fast Expanding End-User Industries and Product Compliance

Food & beverage, cosmetic industry, pharmaceuticals manufacturers are prominent end-user industries gaining momentum. With the prompt expansion of the food & beverage and agricultural industry across the globe, it will fuel the demand for sodium lactate-based products. Manufacturers may want to steadily exit or avoid entering the vulnerable solvents marketplace as the usage of VOC-based products is banned and prohibited in developed countries.

Increasing safety concerns have encouraged several governments to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have created use of chemical additives and contaminants in food supplies on check.

Also, within the pharmaceutical industry, regulations and quality assurance play an important role. These factors will continue creating scope for sodium lactate applications.

Competitive Landscape

Manufacturers are focusing on the development of intermediates. Moreover, they are focusing on expanding their regional presence through acquisition and expansion.

Some of the leading companies of this market include:

• Jungbunzlauer Suisse AG
• Biosynth Carbosynth
• Corbion N.V.
• Prathista Industries Limited
• Dr. Paul Lohmann GmbH KG
• Merck KGaA
• Advance Inorganics
• Hexon Laboratories Private Limited
• Galactic S.A.
• abcr GmbH

Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global sodium lactate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the sodium lactate market on basis of Product Form in detail cover every aspect of the market such as (Powder, Liquid), Application (Beverages, Food & Nutritional Supplements, Clinical Nutrition, Dialyses Solutions, Personal Care & Cosmetics, Cleaners & Detergents), End User (Food & Beverages Industry, Cosmetic Industry, Pharmaceuticals Manufacturers, Medical Devices Manufacturers, Others) across seven major regions.

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What Are Key Opportunities For The Market To Growth In Future?

In developed economies, customers are progressively transitioning to products that confirm to stricter requirements for safety. This will create opportunities for research and development activities and product innovation to launch lactates-based products.

Development of custom formulation and products as per end-user requirements is expected to gain impetus across the world. Some of the leading companies are therefore focusing on produyct launches.

A majority of manufacturers in the MEA region are based out of South Africa, Turkey and GCC. They are primarily focusing on manufacturing international quality products to garner significant attention from end-users in the region. Sodium lactate also is used in food products that need to be Kosher & Halal certified.

Expansion in APAC and ban on VOC-based solvent in Europe and North America will create growth opportunities for sodium lactates manufacturers.

[247 pages Report] As per newly released data by Future Market Insights (FMI), the glass reactor market is expected to register year-on-year (YoY) growth of 4.6% in 2021, registering sales of 400 thousand units. The single jacketed glass reactors segment will grow 4.3% in 2021 to reach 286 thousand units, while the double jacketed glass reactors segment demand will be up 4.4%, reaching 112 thousand units. Extensive applications in chemical and pharmaceutical processing will contribute to the growth of the market through 2031.

According to Future Market Insights, the expansion of pilot plants to test and validate production technologies before commercialization has led to stronger demand for glass reactors. The glass reactors market observed a moderate decline in its sales volume in FY2020 due to the Covid-19 pandemic.

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Demand from end-use industries including petrochemicals, research institutes, and others have waned. However, parts of the chemical and pharmaceutical sectors were unaffected due to demand generated from Covid-19 precautionary measures.

Demand for single jacketed glass reactors has been steadily increasing. This can be attributed to enhanced applications in the chemical and pharmaceutical industries, owing to which single jacketed glass reactors have secured a prominent share in the global glass reactors market.

The growing requirement for pilot plants due to the increasing adoption of new and advanced technologies coupled with Industry 4.0 norms, support the yield of glass reactors through the forecast period.

An increasing number of players are focusing on research and development related to glass reactors and are anticipated to contribute towards market growth in the years to come.

“The glass reactors market is growing at a strong pace, driven largely by investments in research and development (R&D) activities for the expansion of chemical and petrochemical projects. This will create extensive opportunities for manufacturers through 2031. Industry participants are investing in expansions, strategic alliances, and cost-effective solutions to gain a competitive advantage,” says a Future Market Insights analyst.

Key Takeaways from Glass Reactors Market Study

• Glass reactors with a capacity of 30 to 60 Lts. are projected to hold over 35% value share of the global market in 2021, owing to a wider scope of application.
• Single jacketed glass reactors are set to hold 71.8% of the market share by the end of the forecast period, aided largely by cost considerations.
• The U.S. will remain a primary market, backed by rising demand from the pharmaceutical and chemical process sector. It is expected to account for 77.1% of the demand registered in North America in 2021.
• The markets in India and China are set to surge at a CAGR of approximately 6.4% and 6.1% over the coming decade, aided by investments in the pharma sector.
• The U.K. is emerging as a key market in Europe, with a valuation of over US$ 34.6 Mn in 2021, growing at a 5.8% CAGR with rising investments in the research sector.

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Competitive Landscape

Companies operating in the glass reactors market are aiming at strategic collaborations and partnerships with other manufacturers to expand their product portfolio and capacity, addressing the demand of an expanding consumer pool.
• For instance, in April 2019, Pfaudler Group acquired the Industrial Mixing Solutions Division (IMSD, www.sudarshan-imsd.com) of Sudarshan Chemical Industries Ltd., Pune.
Manufacturers are also focusing on the expansion of manufacturing facilities globally to maintain their global presence.
• In December 2019, Büchi AG. laid the foundation stone for the expansion project in Kaliningrad, Russia. The new facility enabled the company to increase its footprint in Europe, expand sales into Eastern Europe, and better address its customers’ needs by producing more products and services.

Some of the prominent players operating in the Global Glass Reactors Market profiled by FMI are:

• DE DIETRICH PROCESS SYSTEMS
• Parr Instrument Company
• Büchi AG
• Corning Incorporated
• Ace Glass Incorporated
• GMM Pfaudler Ltd.
• Syrris Ltd.
• Radleys
• Quark Glass
• Senco. CC

Find More Valuable Insights

The research report analyzes the demand for glass reactors. The global glass reactors market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights, the market has been analyzed based on

By Capacity:

• Up to 5 Lts.
• 5 to 15 Lts
• 15 to 30 Lts.
• 30 to 60 Lts.
• 60 to 100 Lts.
• 100 to 300 Lts.
• Above 300 Lts.

By Design:

• Single jacketed Glass Reactors
• Double Jacketed Glass Reactors

By Application:

• Pilot Plants
• Mid-Large Scale Production Plants
• Portable Multi-purpose Unit

By End Use:

• Chemical Process Industries
• Petrochemical Refineries
• Pharmaceutical
• Research Institutes

By Region:

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

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Key Questions Answered in the Report
• At what rate is the glass reactors market projected to grow through the assessment period?
• How much is the glass reactors market worth?
• What is the volume outlook of the glass reactors market?
• At what rate did the glass reactors market grow in the last 5 years?
• What is the share of the top players in the glass reactors market?
• What is the North American glass reactors market outlook?
• At what rate are the sales of glass reactors in Europe set to rise?

Explore FMI’s Extensive Coverage on Industrial Automation Domain

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Premiumization and humanization trends are projected to remain chief factors driving sales of cat food in the upcoming decade. According to a recent report by Future Market Insights (FMI), the cat food market is set to surpass US$ 65 Bn rising at a CAGR of 4.8% through 2031.

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Demand for higher-quality, nutritionally sound foods for pets is continuing to rise on a global scale. As a result, the all-natural product segment is witnessing an increase in grain-free, meat-and-poultry-first, and clean, wholesome-ingredients.

Cat food flavor profiles are consistent with the rest of the pet food market, which mirrors human dietary preferences. As a result of the increased consumer interest in quality and nutrition, premium wet cat food is becoming popular.

The rising focus on pet health has boosted the scope of sales for functional cat food. Cat owners are looking for products that have higher nutritional value. These factors are creating lucrative growth opportunities for new and existing players.

Functional foods are incorporated with several essential nutrients. Consequently, manufacturers should focus on the launch of new functional products to upscale their business. The demand for frozen and freeze-dried cat food is increasing. One of the factors driving the growth of the frozen and freeze-dried pet food market is the growing trend of nuclear families.

Advertisements and pet health awareness campaigns are on the rise, and celebrity endorsements are another element driving the popularity of frozen and freeze-dried cat foods. These products can be preserved for longer periods of time without losing key characteristics.

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Key Takeaways from the Cat Food Market Study:

• Offerings for senior cats account for over 80% of overall sales in 2021, owing to fast growth of felines into adolescent and adult stages.
• Sales through online retailers are expected to rise at an above average CAGR of 5.9%, with impetus from the covid-19 crisis.
• Thailand will reflect a CAGR of over 7% aided by the presence of multinational production facilities in the country.
• The U.S. is estimated to account for nearly 82% of the North American market in 2021, supported by pet humanization trends, and spending on premium products.
• China is estimated to account for more than 50% of the East Asia value share in the year 2021, driven by a spike in pet ownership rates.

“Due to the increasing demand for organic and all natural foods, various manufacturers are concentrating their efforts on balanced nutritional offerings, without compromising too much on costs. Manufacturers are leveraging the trend of animal humanization and integrated production to offer cost-effective products through 2031,” said a lead analyst at FMI.

Who is winning?

Leading cat food producers are focusing on strategic collaborations, mergers, and acquisitions in addition to bolstering organic growth strategies to consolidate their presence in previously untapped markets.

Some of the leading companies offering cat food are Evanger’s Dog & Cat Food Company, Inc., Mars, Incorporated, Nestlà Purina PetCare, P&G Pet Care, Ill’s Pet Nutrition, Del Monte Pet Products, Affinity Petcare SA, Nutro Products Inc., Unicharm PetCare Corp., Total Alimentos SA, Nutriara Alimentos Ltda., The J.M. Smucker Company, Fromm Family Foods LLC., Dave’s Pet Food, Boulder Dog Food Company, Rollover Pet Food Ltd., Real Pet Food Company, Party Animal, Inc., Freshpet, Burgess Group PLC, and many others.

Get Valuable Insights into Cat Food Market

Future Market Insights, in its new offering, provides an unbiased analysis of the cat food market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the cat food market based on nature (organic, monoprotein, and conventional), by source (anima-derived, plant, derived, and insect-derived), by product type (kibble/dry, treats and chews, dehydrated food, freeze-dried food, freeze-dried raw, wet food, frozen, raw food, and powder) pet type (kitten and senior), packaging type (pouches, bags, folding cartons, tubs and cups, can, and bottles & jars) and distribution channel (store-based retailing and online retailers) across seven major regions.

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Key Questions Answered in the Report

• How much is the cat food market worth?

In 2021, the cat food market is expected to be worth over US$ 40.7 Bn.

• What is the share of the top players in the cat food market in 2021?

Mars Incorporated, Purina, The J.M. Smucker Company, Hill’s Pet Nutrition, and Affinity Petcare SA cumulatively will account for a share of 25-30% of the global market.

• Which are the top 5 countries driving demand for cat food?

The U.S., the UK, Germany, China, and France consistently reflect high demand for cat food products.

• Which countries are key producers of cat food?

The U.S., Germany, Spain, the U.K., and China are the top producers of cat food.

• At what rate did the global cat food market grow between 2020 and 2021?

The global market for cat food rose 4.2% between 2020 and 2021.

• At what rate did the global cat food market grow in the last 5 years?

The global market grew at a 3.8% CAGR from 2016 to 2020.

• What factors are driving the demand for cat food?

The rising trend of pet humanization, growing focus on organic and natural ingredients, and growing pet ownership rates in developing countries are factors driving growth.

• What is the North America cat food market outlook?

The North America cat food market is set to rise at a 3.7% CAGR through 2031.

• At what rate is the sales of cat food in Europe set to grow?

The Europe market for cat food is projected to rise at a 4% CAGR through the assessment period.

• What are the key statistics of the South Korea and Japan cat food market in 2021?

The South Korea and Japan cat food markets account for 10.4% and 8% of the global market respectively.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

According to recent research estimates, Cherry picker Crane market is expected to experience substantial gains, with projections around 6% to 8% CAGR from 2021 to 2031.  Due to urbanization, demand of cranes will witness steady growth in short-term, with optimistic growth outlook in the long-run.

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In recent years the infrastructure industry have witnessed 5-6 percent growth. However, due to COVID-19 pandemic has disrupted the operations across all end use industry verticals as well as construction activities to a considerable extent. The government-imposed lockdowns and unstable economic conditions has declined the demand for cherry Picker Cranes but this industry has huge growth in loner run in the developing countries.

The technological advancement and increasing population will create ample amount of opportunities in upcoming years, however, sales of Cherry Picker Crane will saves time as well as cost and we will take one step ahead towards advancement and development.

Key Players:

The key examples of manufacturers and suppliers include

• Aichi Corporation,
• Altec Inc.,
• Haulotte Group,
• J.C. Bamford Excavators Limited,
• Nifty lift (UK) Limited,
• Oshkosh Corporation (JLG Industries, Inc.),
• Skyjack (Linamar Corp.),
• Terex Corporation (Genie),
• Teupen,
• Zhejiang Dingli Machinery Co., Ltd.

Product diversification coupled with expansion of distribution networks have been major strategies employed by the manufactures to gain strong presence in target markets. 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 also maps the qualitative impact of various market factors on market segments and geographies.

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Key Segments

By Type:

• Straight booms/ Stick booms/ telescopic booms.
• Articulated booms.
• Others

By Application:

• Vehicle Mounted Cherry Pickers
• Trailer Mounted Cherry Pickers
• Self-Propelled Cherry Pickers
• Others

By End-use Industry:

• Transportation
• Utilities
• Construction
• Others

By Region:

• North America
  • US & Canada
• Latin America
  • Brazil, Mexico, Others
• Europe
  • Germany, Italy, France, U.K., Spain, BENELUX, Russia
• South Asia Pacific
  • India, ASEAN, Australia and New Zealand (ANZ)
• East Asia
  • China, Japan, South Korea
• Middle East and Africa
  • GCC Countries, Turkey, North Africa, South Africa

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North America Demand Outlook

The North America Crane Market is anticipated to register a CAGR of 5.7% in upcoming 5-7 years. The major reasons behind such advancement are government initiatives like National Infrastructure Plan (NIP) etc.

focusing on infrastructure to fulfill the demand. There is rise of migration in urban areas indicating the hike in construction activities and demand for cranes in the near future.

Additionally, up gradation and setting up new public building, schools, public parks, and airports will boost product deployment at these locations. Also the various project related to oil and gas may create huge demand for crane manufacturer and other construction equipment in North America.

According to the latest research, the demand for Ethylene Glycol is anticipated to grow with a compelling growth rate of about 3.1% to 4.5 % in between the coming assessment period of 2021-2031.

It is mainly used as a raw material in the manufacture of polyester fibres and for antifreeze formulations.

What is Driving Demand for Ethylene Glycol

Major factors driving the market are the growing demand from the textile industry and automotive industry. The availability of enhanced ethylene glycol production technology, increased popularity of bio-based ethylene glycol, and rising demand from the textile industry are projected to fuel market expansion throughout the forecast period.

Rapid growth in the textile and PET resin products industries is expected to boost the consumption during the forecast period.

The packaging industry has been driven by rapid growth and changing lifestyles of consumers, and the growing use of Polyethylene Terephthalate (PET) in a variety of consumer goods products, including as food containers and bottles, is expected to enhance demand for MEG which is likely to boost the market throughout the forecast period.

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Growth of automotive sector to boost the market and increase demand of Ethylene Glycol

It is widely used as an antifreeze in automobile engines. Because it has a lower freezing point than water, it is used to keep an automobile radiator cool throughout the winter.

Globally, the number of vehicles on the road is increasing and is expected to grow at a CAGR of 4.5 percent.

Growing vehicle production and sales volumes are to responsible for the increase in vehicle on-road volumes. Coolants and antifreeze will be in high demand due to the increased number of vehicles on the road.

The demand for MEG will be fuelled by an increase in coolants and antifreeze usage.

Many end use industries depend on the use of ethylene glycol as a feedstock. It’s mostly used to make PET bottle resins, polyester fibre, and films. Fibre is the most common application of MEG.

Due to the usage of MEG in the production of PET and polyester fibres, it is widely used in the textile and apparel industries, as well as garment manufacturing, home furnishings, carpets, and rugs. Hence the market is expanding due to the high potential for polyester applications in the textile industry.

APAC Market Outlook

Asia- Pacific dominated the worldwide ethylene glycols market and it is also predicted to be the fastest-growing market because of the increased demand and consumption of MEG, the majority of producers are expanding their production capacity in Asia through both organic and inorganic expansion techniques.

Plastic manufacturing, chemicals, and textiles are among the end-user industries that are rapidly expanding in the region.

The increasing demand for MEG in polyester and PET applications in the textile and packaging end-user sectors makes China the largest ethylene glycol market. China is also projected to see capacity increases for PET resin in addition to fiber application.

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Europe and North America Demand Outlook

The increased production and sale of passenger vehicles in Germany, France, and the United Kingdom is expected to drive ethylene glycol consumption in automotive applications, boosting the market in these countries.

North America, owing to the presence of leading automotive players and the growing PET resin sector will lead to significant demand for this product in the North America market over the projection period.

Who are the Key Manufacturers and Suppliers

Some of the leading manufacturers and suppliers include

• Exxon Mobil Corp.
• Dow Chemical
• SABIC
• Sinopec
• Shell chemical
• Reliance Industries ltd.
• Huntsman Chemical Corporation
• LOTTE Chemical Corp.
• Kuwait Petroleum Corporation
• LyondellBasell Industries
• Formosa Plastics Corporation and many others.

Major players in the worldwide market are increasing their regional presence and company operations through organic and inorganic growth methods such as joint ventures, mergers and acquisitions, expansion, collaborations, new product launches, strategic alliances, and R&D.

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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Key Segments

By Derivative Type:

• Monoethylene Glycol (MEG)
• Diethylene Glycol (DEG)
• Triethylene Glycol (TEG)

By Application:

• Polyester Fibres
• PET
• Antifreeze and Coolants
• Films
• Others

By End Use Industry:

• Textiles
• Automotive
• Packaging
• Others

Explore FMI’s Extensive Coverage on Chemicals & Materials Domain

Plaster Accelerator Market: It is expected to register a CAGR of over 6-7% during the forecast period 2021-2031. Major factors driving the market are increasing demand from residential & commercial construction, and infrastructure segment.

Octyl Octanoate Market: The demand for Octyl Octanoate is anticipated to grow at a compelling growth rate of about 4.5% to 6.0% in the coming assessment period of 2021-2031.

Polycide Market: The polycide market is projected to expand between 4.0% and 6.0% CAGR during the 2021-2031 assessment period. The growth of the market can be attributed due to the steady increase in demand from pharmaceutical sector across the globe.

According to research, road marking paint market is projected to grow with a CAGR of 3.5% – 5.5% for the forecast period of 2021-2031.

Demand for this product will be propelled by increased municipal spending on road safety & maintenance activities across developing and developed world.

Due to increased concerns pertaining to road accidents and improvements in road structures and maintenance, the market for this product is set to prosper in upcoming decade.

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What is Driving Demand for Road Marking Paints

Demand for road marking paint has been increasing due to its several beneficial properties such as being wear resistant, technically dominant, lustrous, as well as due to its reflective properties and affluence of application.

The markings give visible signs on streets, berms, motorways, curbs, driveways, sidewalks, parking areas, and airfields, and the product finds profound application in marking zebra crossings, speed breakers, dividers, landing marks, cross roads, highways, local roads, intersections on the roads, and much more.

The paint also finds use in helping to provide direction and give turning signs to drivers. Furthermore, the chemical plays a crucial role in traffic control.

New developments in marking paints are boosting the growth of this market. Researchers and scientists are coming up with innovations like organic-inorganic hybrid polymer latex for high durable traffic marking paint, reactive line markings that charge using solar light, etc. Such new developments in road marking paints are boosting the growth of this market.

Increasing Road Safety Awareness to Drive Road Marking Paint Market

Lifestyle of population is becoming faster with busy schedules and limitations on travel time. This leads to stress and in turn a lot of road accidents due to lack of awareness by the driver of its surroundings.

To ensure that the driver has a direct view of safety signs and directions, road paint markings play a vital role.

These marking indicate which part of the road to use, provides information about the conditions ahead, and indicates where passing is allowed.

It helps the driver in bad weather conditions and night as well due to its highly reflective property. The product comes in different colors to present different signals without any scope for misinterpretation.

Asia-Pacific Road Marking Paint Market Outlook

Asia Pacific region is anticipated to lead and dominate in the global road marking paint market with the largest market share. This shall be owing to the increase in construction activities and rapid development in countries like India and Japan.

Increase in investment in intelligent street marking systems to improve road safety is anticipated to open new opportunities for the market players. There has been an increasing demand for maintained roads in this region, which shall further raise the industry of this product.

North America & Europe Road Marking Paint Market Outlook

The market in North America is expected to expand at a steady pace during the forecast period. This is due to the increased road accident rates in the region that require urgent solutions and better marked road.

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This paint is applied on highways due to high visibility which makes it vital for road safety.

Also, this region is native to many key player companies like Sherwin Williams and Sealmaster which will continue to invest in this product and innovate new developments.

European region is expected to witness a steady rise in the market of this product due to introduction of road safety practices like broadening of road markings and widening of roads.

Roads, highways, and bridges are constantly exposed to high impacts and extreme weather conditions. Thus, the traffic marking lines and sign labeling requires constant maintenance and reapplication of paint coats.

This will in turn ensure growth of the market in forecast period.

Who are the Key Manufacturers and Suppliers of Road Marking Paint

Some of the key players operating in the global road marking paint market are

• Sherwin Williams (US)
• Swarco (Austria)
• Geveko Markings (Denmark)
• Ennis-Flint (US)
• Hempel (Denmark), Asian Paints PPG (India)
• Sealmaster (US)
• Berger Paints (India)
• Nippon Paint Holdings Co. (Japan)
• and BASF Coatings (Germany).

Many manufacturer companies working towards innovation, and producing paints with new properties like glow-in-the-dark road marking paint, are contributing to the robust growth in road marking paint demands.

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.

Market Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

NOTE – All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

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Key Segments

By Type:

• Water Based
• Solvent Based

By Product Type:

• Two-Component
• One-component

By Application Coverage:

• Highways
• Urban Roads and Streets
• Parking Lots
• Airports
• Other

By Marking Application Technique:

• Trucks
• Self Propelled Machines
• Hand Guided Equipment

By Region:

• North America
  • US & Canada
• Latin America
  • Brazil, Mexico
• Europe
  • Germany, Italy, France, UK, Spain, Benelux, Russia, Nordics
• East Asia
  • China, Japan, South Korea
• South Asia and Pacific
  • India, ASEAN, Oceania
• Middle East and Africa
  • GCC Countries
  • Turkey
  • North Africa
  • South Africa