Tire Materials Market has been envisaged to approach the valuation of US$ 100 Bn towards the end of forecast period.

Future Market Insights recently published a report titled “Tire Materials Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028” 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.

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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.

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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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.

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.

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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.

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Bamboos Market to Garner Brimming Revenues by 2029

Ascending demand from key end-use industries such as paper & pulp, building & construction, textile, and wood is projected to primarily drive demand for bamboos. The global bamboos market would progress at a high double-digit CAGR during 2019 – 2029, reaching a mark of US$ 12 Bn in 2029, as projected by a new Future Market Insights (FMI) study.

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Bamboo is a versatile multi-purpose forest produce and plays a vital role in the world’s domestic and industrial economies. Bamboo and bamboo-based products are used for a wide range of indoor and outdoor applications, owing to its abundance and versatility.

Key Takeaways – Bamboos Market Study
  • The pulp & paper end-use industry segment in the global bamboos market is witnessing high growth, and is expected to follow the same trend over the forecast period owing to utilization of bamboo as a raw material in the production of paper & pulp.
  • Bamboo produces about 35% more oxygen as compared to other trees. Additionally, its biomass is an efficient and cheap fuel for power generating units. As a result of this, the power sector is focusing on bamboos as a source of fuel for power generation.
  • Asia Pacific (APAC) is expected to maintain its dominance in the global bamboos market throughout the forecast period in terms of volume as well as value. This can be mainly attributed to the growing construction industry in China and India, supported by surging infrastructural investments. APAC has more than half of the total bamboo species available in the world.

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Thriving penetration of green building technologies is supporting the demand for bamboos due to utilization in construction of scaffolding. Moreover, there is a continuous demand for bamboo furniture, plywood, and outdoor decking in various countries.

Who Is Winning the Bamboos Landscape?

The global bamboos market is fairly fragmented, with small- and medium-scale enterprises accounting for major market share in the global market. Some of the key market players included in the report are Moso International B.V., Bamboo Village Company Limited, and Shanghai Tenbro Bamboo Textile Co. Ltd. New product launches and developments are some of the key strategies adopted by market players to retain their position in the global bamboos market. The companies are engaged in continuously participating in different events, conferences, tradeshows and seminars to market their newly launched products across the globe.

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Bamboos Market – Regional Analysis

High growth in construction, pulp & paper, and furniture industries is expected to be a key driving factor for bamboos market growth. China is a large exporter of processed bamboo products such as bamboo plaiting, bamboo shoots, bamboo panels, wood charcoal of bamboo, etc., whereas countries such as the U.S., Canada, and other European countries where very small bamboo resources are available import bamboo products requirement from other bamboo-rich countries.

Bicycle Shoe Sales Skyrocket as Cycling Activity Sees Accelerated Growth, Says -FMI

The recent past has observed an increased adoption of bicycle shoes owing to increasing number of cycling events, clubs and association across the globe which in turn is accelerating the sales of cycling accessories such as bicycle shoes and helmets among riders. Moreover, growing cycling interest and high penetration of online sales channel are expected to fuel the global sales of bicycle shoe. FMI in its newest research report opines that the growing trend of custom bicycle shoes is leading to an uptick in the demand for bicycle shoe. On the back of these factors, the global bicycle shoe market is estimated to be valued at US$ 998.7 Mn in 2019 and expected to expand at 5.5% CAGR during the forecast period of 2019-2029.

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Key Takeaways from the Bicycle Shoe Market Study

  • East Asia is expected to dominate the global bicycle shoe market owing to large population base which are more inclined towards fashion and health. Cycling activity which has emerged as health & fitness program among consumers, attracts East Asia riders for higher participation which is resulting to an uplift of bicycle shoe in the region. As per Union Cycliste Internationale (UCI), 40 UCI cycling teams are registered in 2018 which was 17 in 2009, increased more than double in past years.
  • According to FMI, mountain bike shoe accounted for the maximum share in the global bicycle shoe market owing to high preference for adventure sports among consumers supported by the manufacturers with continuous innovation in mountain biking (MTB) such as wireless drivetrains, wireless dropper-posts, fork & shock controls which further generates the necessity of mountain bike shoe.
  • An upsurge in consumer spending was seen in the segment of men within the global bicycle shoe market. As per Statistics for American Motorcycle Riders, female motorcycle owners accounted for only 19% as compared to men (81%) in 2018.
  • While offline sales channel will continue to dominate the bicycle shoe market during the forecast period, online sales channel is expected to see a prolific rise with a higher CAGR in bicycle shoe. Preferential shift of consumers towards online platforms are primarily driven by product availability and competitive vendor prices etc. Online platforms offer multiple sellers at the same time with numerous bicycle shoes to choose from. Moreover, bicycle shoe delivery at doorstep also saves the consumer’s time which is another important factor towards the growth of online sales channel.

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“Health awareness activity and technological innovation are gearing the market for fitness as well as health improvement products. Light weight, pedal compatibility, breathable fabric and most importantly customization in bicycle shoe are expected to remain the key focal points of manufacturers in the coming years. Manufacturers are also focusing on step-in pedals & cycling shoes which will enhance the riding experience of new comers in upcoming days.” says an FMI analyst.

global bicycle shoe market share by region

Increasing Public Bicycle Rental Programs and Government Initiatives

Bike-sharing programs offer an active mobility option to individuals with an objective to increase cycling, reduce congestion, and minimize environmental pollution. Also, bicycles available on rent save users investment needed to purchase their own bicycles. In addition, users who make a habit of using rental bicycles can be potential buyers in the future for companies that target citizens who commute over shorter distances. A study by Institute for Transportation and Development Policy (ITDP) in 2014 revealed that bike-share programs have been initiated in over 600 cities worldwide, and more bicycle rental programs are starting each year.

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The Indian government has taken many initiatives, such as ‘Make in India’ and ‘Startup India’, with an objective of boosting the manufacturing sector and increasing the purchasing power of the average Indian customer. Such initiatives would further boost demand and hence, spur the development of bicycles in addition to benefiting investors. Moreover, the Government aims to push the country’s manufacturing sector to account for 25% of its GDP, which is much higher than the current 17%. All these factors are anticipated to drive the growth of the bicycle market in the Asia-Pacific region, thereby boosting demand for bicycle shoes.

Who is winning?

Some of the key players operating in the bicycle shoe market are Alpinestars S.p.A, Dainese S.p.A, Fox Head Inc., Lemans Corporation, EVS Sports and others.

Several leading bicycle shoe players are launching new innovative products to expand their footprint and product portfolio. At present, manufacturers are focusing on research and development activities to come up with new technologies which can change the market landscape of bicycle shoe.

  • In March 2020, Leatt, a company which designs & manufactures of protective neck braces, body armour and cycling shoe, has  launched innovative shoe line for mountain biking.
  • In Feb 2019, the company Shimano launched indoor cycling footwear, IC5 and IC3 shoes.

Get Valuable Insights into Bicycle Shoe Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global bicycle shoe market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2019-2029. The bicycle shoe study reveals compelling insights on the bicycle shoe market on the basis of product type (mountain bike shoe, road bike shoe, touring & city bike shoe, winter shoe), price range (premium, mass), consumer orientation (male, female, kids), and sales channel (online and offline- specialty bicycle retailers, full-line sporting goods stores, department stores & others) across all regions.

Baby Diaper Market Is Expected To Reach A Valuation Of US$ 63.67 Bn By 2021

The baby diaper market is set to grow, especially as manufacturers increasingly focus on innovations to offer greater customer satisfaction. According to a study by Future Market Insights (FMI), some of the leading manufacturers are focusing on ensuring bio-degradability in order to ensure products are recyclable. Driven by these developments, the market is expected to reach a valuation of US$ 63.67 Bn by 2021.

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Unlike bio-degradable diapers, regular diapers don’t degrade well in a landfill. Also, disposable diapers require around several years to disintegrate. The tremendous amount of untreated waste added to the landfills consistently through plastic diapers can contaminate the groundwater. Coupled with this, rising climate concerns represents a key factor propelling the demand for bio-degradable diapers.

Disposable diapers comprise many synthetic compounds that can adversely affect wellbeing. These includes sodium polyacrylate, dioxins, tributyl-tin, dyes, volatile organic compounds, and other chemicals. These synthetic substances may cause tingling and different medical issues such as respiratory problems, cancer, hormone interferences, and several other health problems to an infant.

With consumers increasingly focusing on eco-friendly buys, the demand for biodegradable or reusable baby diapers is expected to surge. In addition, cost-effective pricing of products, presence of a relatively untapped market for bio-degradable baby diapers in underdeveloped and developing countries, and rapid urbanization are other factors expected to propel bio-degradable baby diapers sales over the forecast period.

Thus, increasing awareness on negative impact of these chemicals and baby hygiene among individuals shifting the consumer preference towards bio-degradable diapers. Subsequently, organizations are investing in R&D to ensure impact of products on the climate is zero to minimal. According to FMI, despite the dominance of disposable diapers, the reusable baby diapers sales will rise at 5.1% CAGR between 2021 and 2031.

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Key Takeaways from the Baby Diaper Market Study

  • Baby diapers sales will rise consistently. FMI forecasts the market to exhibit 5% CAGR between 2021 and 2031
  • The U.S. showcases high focus on offering best possible baby care. It therefore accounts for 80% of baby diapers sales in North America
  • Despite sluggish growth registered amid pandemic, the U.K. market will recover, exhibiting 4.6% y-o-y growth in 2021
  • Germany and Spain will emerge as other key markets for sales within Europe
  • China will remain a key market for baby diapers sales in East Asia, as consumers show higher willingness to spend on advanced baby care. Japan will follow closely, emerging as second-leading market

“Companies are focusing on penetration in rural areas to capitalize on untapped opportunities. They are therefore increasingly investing in various awareness campaigns to educate widely scattered demography of prospective buyers about the benefits of baby diapers for the health and wellbeing of their children,” says an FMI analyst.

Impact of COIVD-19 & 2020 Market Analysis

The COVID-19 outbreak resulted in the imposition of lockdowns in various nations that has considerably affected the net sales and production of baby diapers. Companies were unable to operate across the world, which in turn has impacted baby diaper demand severely. Besides this, travel restrictions adversely impacted operations within the market.

With second and third wave of pandemic on card, baby diaper companies are extending various offers on bulk purchase of baby diapers. With situation predicted to recover in the coming days, the baby diapers sales will rise in the near future.

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Who is winning?

Some of the key players operating in the Baby Diaper market are Kimberly-Clark Corporation, Procter & Gamble Company, Kao Corporation, Unicharm Corporation, Cardinal Health Inc., Ontex International N.V., Bambo Nature USA, PAUL HARTMANN AG, C. R. Bard, Inc., Aleva Naturals (D&G Laboratories Inc.), B. Braun Melsungen AG, Babyganics (S.C. Johnson & Son Inc.), Bambino Mio Ltd., Bambo Nature USA (Abena Group), The Honest Company Inc., Bumkins, Charlie Banana USA LLC, ConvaTec Inc., Earth’s best (The Hain Celestial Group, Inc.), ECOABLE, Seventh Generation, Inc., Flip Diapers (Cotton Babies, Inc.), Fujian Hengan Group Ltd., Fujian Yifa Healthcare Products Co., Ltd., GeffenBaby.com, GroVia, Hengan International Group, Medline Industries Inc., Mega Soft (Fujian) Hygiene Products Co., Ltd., and Naty AB among others.

Rare Earth Metals Market Is Set to Experience Revolutionary Growth by 2031

As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global rare earth metals market is poised to witness steady growth at around 6% CAGR, exceeding the market valuation of US$ 3,818.8 Mn between the forecast period 2021 and 2031.

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Growing consumer preference towards electronic vehicles and rapid expansion of the automotive and electronic industry are emerging as chief factors augmenting the growth of the rare earth metals market.

Presence of high-growth potential industries including consumer goods and renewable energy in developed countries such as the U.S., the U.K., and Germany will propel sales in the market.

Permanent magnets used in wind turbines are produced from rare earth metals such as dysprosium and neodymium. Considering this, a steady expansion of wind turbine installations worldwide will create conducive environment for rare earth metals sales.

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Besides this, the market will continue gaining from application in manufacturing batteries installed in electric vehicles. With electric and hybrid vehicles sales forecast to gain momentum in the coming years, the demand for rare earth metals with consistently rise.

Rising digitization and urbanization in developing countries such as China, India, and South Korea is boosting the demand for consumer electronics, which in turn is fostering sales of rare earth metals.

As per FMI, Asia Pacific excluding Japan will continue exhibiting high growth within the global market. Within the region, the Neodymium segment is likely to gain remarkable 270 basis points by 2026 in comparison to that of 2016.

China, trailed by India, will emerge as the dominant market for rare earth metals in Asia Pacific. The continued surge in mining activities, besides expansion of electronics and automotive sectors will support growth in the country.

Key Takeaways from FMI’s Rare Earth Metals Market Study
  • Neodymium will emerge as the most preferred metal type throughout the forecast period.
  • Permanent magnets will dominate the application-type segment.
  • The U.S. will exhibit high demand due to rapid expansion of automotive and renewable energy industries.
  • China will lead the rare earth metals market owing to the presence of major players and increasing production of consumer electronics.
  • The U.K. will experience steady growth, which is attributable to increasing demand by various end-use industries.
  • South Korea and Japan will account for nearly 14% of the market share.

“Companies operating in the market are adopting sustainable mining policies to gain competitive edge. Besides this, they are seeking approval from international organizations to aid capacity expansion,” says the FMI analyst. 

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Competitive Landscape

China Northern Rare Earth (Group) High-Tech Co., Ltd., Rising Nonferrous Metals Share Co., Ltd., Lynas Corporation, China Minmetals Corporation Limited, and Aluminium Corporation of China Limited are some leading players operating in the rare earth metals market.

Key strategies being incorporated by manufacturers include emphasis on sustainable mining practices, research, and development regarding efficient use of metals, industry-grade machinery installations, and expansion of procurement facilities. For instance:

  • In December 2019, Lynas Corporation joined hands with Kalgoorlie Boulder, based out of Australia, to open a new processing plant for processing materials mined from the nearby Mt Weld lanthanide deposits.
  • In June 2021, Arafura Resources Ltd., received approval and a Letter of Support from the Northern Australian Infrastructure Facility (NAIF) for the inclusion of its Nolan NdPr sites as a statutory defined area of North Australia, enhancing the sustainable mining practices in the region.

Paper Packaging Market is estimated to expand at a CAGR of 4.1% during the forecast period

The global paper packaging market is estimated to expand at a CAGR of 4.1% during the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.

The report includes a market research study on the global paper packaging market, which includes market assessment and trend analysis of different packaging types such as corrugated boxes, cartons, wrapping paper, inserts & dividers, bottle & cup carriers, cups & trays, clamshells, display packaging, bags & sacks, and tapes & labels.

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Expanding Ecommerce Sector to Further Drive Paper Packaging Market 

Future Market Insights suggests that the growing consumption of packaged food and consumer goods will boost the demand for paper packaging in the coming years. Suitability of corrugated boxes, cartons, and paper bags to pack a large variety of products from different end-use industries such as electrical & electronics, food & beverages, healthcare, homecare, building & construction, and tobacco, will create enormous growth opportunities in the global paper packaging market. Considering the high-growth opportunities arising from the e-commerce industry and a large number of packaging applications of paper packaging formats, most of the manufacturers of paper packaging solutions in the developed, as well as in developing economies, are planning to expand their production capacities.

Manufacturers are developing paper packaging formats that are biodegradable and eco-friendly. Many paper packaging experts and consumer product companies are focusing on green packaging. Modern retail penetration is expected to boost the demand for paper bags. Due to the demand for sustainable packaging, paper packaging manufacturers are increasingly using recyclable raw materials. Sustainable packaging plays a key role in maintaining the shelf life of the product along with decreasing the negative impact of plastic and chemical packaging on the environment.

Manufacturers and consumers are constantly looking for environmentally-friendly, sustainable, and easy-to-reuse packaging products. Lightweight paper packaging is captivating the attention of various industries through its numerous benefits. Many industries are witnessing advanced benefits with the adoption of lightweight paper packaging and several paper packaging format manufacturers are embracing it, as paper packaging can reduce energy and overall costs during production, as well as transportation, apart from its primary benefits such as lightweight and recycling efficiency.

The paper packaging manufacturing process involves multiple stages, which range from designing, layout, die cutting, to waste recovery. The process requires machinery and equipment for emission control, cooking, pulp storage, and other such processes. Installation costs incurred by paper packaging manufacturers are quite significant and highly expensive. Moreover, the operation costs for running such paper packaging machinery and equipment are also considerably high, which continues to hamper the market growth, particularly in countries that are facing energy shortfall, such as Russia, Poland, and other countries in Europe.

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Key Segment

On the basis of material type

  • corrugated board
  • specialty paper
  • box-board/carton board
  • Kraft papers
  • molded pulp

On the basis of packaging type

  • corrugated boxes
  • cartons
  • wrapping paper
  • inserts & dividers
  • bottle & cup carriers
  • cups & trays
  • clamshell
  • display packaging
  • bags & sacks
  • tapes & labels

On the basis of level of packaging

  • primary
  • secondary
  • tertiary packaging

On the basis of end-use

  • food, beverages
  • tobacco packaging
  • healthcare packaging
  • personal care & cosmetics
  • homecare & toiletries
  • electrical & electronics
  • industrial packaging
  • E-Commerce
  • chemicals & fertilizers packaging

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The paper packaging market in the South Asian region is fragmented in nature with the presence of medium to large number of local players in the market. India represents the highest market value share in the South Asia paper packaging market and is expected to continue its dominance throughout the forecast period.

South Asia’s paper packaging market represents the highest CAGR in terms of value. The South Asia paper packaging market is expected to expand at a CAGR of 5.9% over the forecast period. Key players operating in the global paper packaging market include Smurfit Kappa Group Plc, Napco National Paper Products Company, Billerudkorsnas, International Paper Company, WestRock Company, Georgia Pacific LLC, Pratt Industries, Inc., DS Smith Packaging Limited, Stora Enso Oyj, and Mondi Group Plc among others, which have been covered in the strategic developments section of the report.

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Demand for Sodium Silicate Witnessing a Thrust from Accentuating Need for Eco-friendly Raw Materials, Finds FMI in a New Study

Global sodium silicate market will grow gradually at 3% CAGR between 2019 and 2029. Sodium Silicate products will witness an uptake in sales on the back of eco-friendly properties of the compound. Market players are innovating end-use applications that cater to the need for viable alternatives of conventional adhesives, binders, and cleaning agents.

Sodium silicate manufacturers can earn profitable revenues by leveraging opportunities presented by prevalence of environment efficient rubber tires, wastewater treatment, and soil stabilization. Market players are developing products for untapped industries such as welding, agriculture, and food.

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Key Takeaway of Sodium Silicate Market Study

  • Sodium Silicate market is valued at US$ 5.6 Bn in 2018 growing at a lackluster CAGR during the forecast period.
  • Asia Pacific (APAC) holds a major market share with more than 53% of the total market value. India, a developing economy in APAC is expected to grow at a promising 5% CAGR from 2019 to 2029.
  • Amid resurgent infrastructure industry and growing demand for green-alternatives, demand from the US will grow at an astounding 12% CAGR through the end of 2029.

Developing economies such as India, Indonesia, and South Korea are investing in infrastructure development. Sodium silicate is an ideal binder for sustainable construction practices. Market players must leverage this opportunity and procure profitable revenues for the forecast period.

sodium silicate market share analysis by region pr

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Infrastructure Impels Future Demand Growth

Major manufacturers of sodium silicate are involved in research and development of products, mergers, acquisitions, and expansion of global footprint via strategic stakeholder partnerships. APAC reigns supreme with share-wide dominance, attributable to surge in demand for end-use industry products that employ sodium silicate such as rubber tires, water treatment, and construction. North America offers lucrative growth opportunities where the US exhibits a double digit 12% CAGR during the forecast period.

Recovering infrastructure in the US propels regional growth during the forecast period. European countries such as Germany is driven by increasing demand for compound in pulp & paper, healthcare, and elastomer filler for rubber tires. Emerging economies in Latin America and MEA are following the footsteps of early adopters with infrastructure development and proactive environmental consciousness.

More About the Report

FMI’s study offers an in-depth market forecast and analysis on the global sodium silicate market. Major categories encompassed by the report include application type (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).

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Transport Cases and Boxes Demand from Defense Sector Continues to Grow: FMI

ESOMAR-certified firm Future Market Insights (FMI) has recently published an all-encompassing study on the global transport cases and boxes market, estimating it to expanding at a growth rate exceeding 3% in 2021. Demand is largely stimulated by prolific advancements in military spending and burgeoning developments across the global shipping industry.

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Furthermore, opportunities also abound across the chemical industry, with prolific advancements in manufacturing and packaging technologies pushed by increasing concerns regarding safe and secure transportation of hazardous material. Until 2019, the chemical industry reached US$ 69.3 Mn, with UK emerging at the forefront. Hence, manufacturers are increasing their presence across Western European countries, especially, UK, Germany, and France.

In addition, the automotive market is welcoming prominent transport cases and boxes manufacturers with open arms, with tremendous potential exhibited by the electric vehicles (EV) segment. Future Market Insights projects the automotive transport cases demand to aggrandize at nearly 4% until 2021, being valued at nearly US$ 150 Mn. With electric car sales surpassing the 2 million mark in 2019, prospects appear extremely bright in the next five years. Hence, demand for robust packaging solutions for electric vehicle equipment is witnessing a credible rise, prompting the entry of key transport cases and boxes players.

Key Takeaways

  • By carrying capacity, demand for below 20 kg to remain dominant, registering 5.7 million unit sales by 2021-end
  • High durability and resistance to wear and tear to increase adoption of polyamide transport cases and boxes
  • 3-5 kg transport boxes to account for nearly 40% revenue in 2021 by case weight
  • Extensive uptake anticipated across the military segment, followed by the chemical industry
  • Demand for waterproof cases and boxes to proliferate, capturing nearly 75% of the revenue share
  • Global transport cases and boxes market to expand at a value CAGR of 3% through 2030

“Heightening demand for container size standardization combined with concerns regarding environmental sustainability is prompting manufacturers to leverage eco-friendly solutions to enhance their product portfolios,” remarks the FMI analyst.

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Competitive Landscape

The transport cases and boxes landscape is highly competitive, attributed to the presence of a multitude of regional and global level manufacturers. Key players profiled in the transport cases and boxes report include Pelican Products, Inc., PARAT Beteiligungs GmbH, SKB Corporation, Inc., GT Line Srl, bwh Spezialkoffer GmbH, Plastica Panaro S.r.l., Thermodyne International Ltd., C.H. Ellis Company, Inc., Plasticase Inc., Gator Cases Inc., GMOHLING Transportgeräte GmbH, Cases By Source, Inc., Procases Inc., and Shell-Case Design Ltd. among others.

In August 2020, bwh Spezialkoffer introduced the ALUshape presentation cases for prominent aluminum roofing manufacturers. Likewise, in September 2020, the company unveiled its SAFEDI event box, which is individually manufactured case suitable for transporting mobile charging and power supply equipment.

In November 2020, Pelican BioThermal doled out a series of deep freezer containers of temperatures ranging between -80 degrees to -20 degrees Celsius for pharmaceutical companies to disburse COVID-19 vaccines once they receive approval from the respective countries’ regulatory authorities.

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More Insights on FMI’s Transport Cases and Boxes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global transport cases and boxes, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the transport cases and boxes on the basis of material type (plastic, metal, leather & others), carrying capacity (less than 20 kg, 20-50kg, 50-100 kg, 100-150 kg & 150 kg & above), end-use (military equipment, photography & music equipment, medical and fire safety equipment, measuring & communication equipment, electronics & semiconductor components, automotive & mechanical parts, chemicals, biotechnology and others), case weight (< 3 kg, 3-5 kg, 5-10 kg, 10-15 kg and > 15 kg) and waterproof feature (waterproof & non-waterproof) across seven major regions.

Stainless Steel Market Is Anticipated To Reach US$ 193.97 Bn By The End Of 2031

Stainless steel market is anticipated to reach US$ 193.97 Bn by the end of 2031 owing to the increasing demand from various industries. As per a study by Future Market Insights (FMI), the growing demand for corrosion resistant material, with high tensile strength material in various sectors such as chemical industries, petrochemicals industries, food and beverage industries, oil & gas, automotive sector, construction industry and many others is anticipated to augment the growth of the stainless steel market in the coming years.

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Also the use of stainless steel is rising in the production of home appliances, cookware, and cutlery, which is expected to continue enabling sales in the market. Austenitic stainless steel is estimated to remain the top-selling stainless steel owing to its application in chemical industry, equipment and storage tanks manufacturing, in mining and chemical equipment, in pharmaceutical equipment, and in cookware and cutlery. According to the report, more than 77% of stainless steel sold in 2021 will belong from this category.

Key Takeaways of Global Stainless Steel Market Study

  • The global stainless steel market is estimated to expand at a CAGR of 5.5% during the forecast period of 2021-2031
  • Presence of well-established industries and expansion of power plants sealed America’s dominance, enabling the U.S. represent over 86% of North America stainless steel market in 2021
  • Expansion of building and construction sectors will drive sales in Germany and France
  • The U.K. will remain a key market, exhibiting 4.4% y-o-y growth in 2021 after a brief period of negative sales
  • Backed by increasing production of stainless steel, China will remain dominant in East Asia

“Companies operating in the stainless steel market are focusing on capacity expansion. A trend which will continue through the assessment period, enabling growth in the stainless steel market,” said an analyst at FMI.

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Growing demand from various end use sectors is projected to boost the Stainless Steel market significantly during the forecast period 2021-2031. China, U.S., and Japan are anticipated to remain prominent countries in the market of stainless steel, owing to presence of various end-use sectors and excellent production capacity of stainless steel.

However, owing to the pandemic impact in the year 2020, stainless steel market is expected to witness a significant downfall in the growth due to the disruption in the supply chain and decrease in demand. However, post the pandemic crisis, the market is anticipated to grow with a significant growth rate over the forecast period.

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Who is Winning?

The global stainless steel market has been identified as a significantly fragmented market along with organized sectors occupying a fair share of the overall market. Some of the key market participants which are included in the report are ArcelorMittal, Nippon Steel and Sumitomo Metal Corporation, POSCO, JFE Steel Corporation, AK Steel, Thyssenkrupp AG, Hyundai Steel Co., Ltd., Outokumpu, Acerinox, Yieh United Steel Corp., Baosteel Group, Aperam, Jindal Stainless Limited, Gerdau, and Vallourec.

Technical Textiles Market to Witness a Healthy Growth by 2031

The technical textiles market will register positive growth with the overall valuation forecast to surpass US$ 183 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 4.60% between 2021 and 2031. Global sales are expected to rise at 4.7% with shipments reaching nearly 37,872 KT in 2021, following a period tepid growth in 2020.

3M, DuPont, Arville, Milliken and Company, and Freudenberg & Co. KG have been identified as the leading market players. Future Market Insights (FMI) has estimated these companies to account for nearly 20% to 30% of the global market share in 2021.

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Key Points Covered in Technical textiles Market Study
  • Market estimates and forecast 2021 – 2031
  • Key drivers and restrains impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competitive Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact On Technical Textiles Market
  • Recommendation on Key Winning Strategies
2016 – 2020 Global Technical textiles Market Compared to Sales Forecast for 2021 – 2031

Technical textile market registered growth at a robust pace between 2021 and 2031. Increasing adoption of technical textiles in agriculture and farming activities to boost the crop yield and modernization in farming methods have bolstered the prospects of the technical textile market growth.

The demand for technical textiles rose significantly during COVID-19 pandemic. Sales uptick registered can be attributed to increasing demand of medical grade masks in hospital and other healthcare centers.

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Category-wise Insights
Which Technical Textiles Type Is Experiencing High Demand?

By application type, mobiltech textiles are expected to exhibit tremendous growth in upcoming years owing to rise in manufacturing and sales of automotives across the globe. Technical textiles are used in manufacturing air bags, seat belts, seating upholstery, tire cords & linear, and others owing to high durability and wear resistance offered by these textiles.

Government mandating the installation of airbags in the automobiles and stringent rules regarding the usage of seat belts and increasing consumer spending on high quality and durable seating upholstery will drive the demand for mobiltech textiles in upcoming years.

Why is Non-Woven Based Production Process Most Preferred in Technical Textile Market?

By process, the non-woven segment will continue to lead the technical textile market growth during the forecast period. Non-woven process is preferred over composite and other process as it is cheaper than other process and improves properties of individual properties of natural fiber or synthetic fiber, which ultimately enhances the performance of textile material.

The non-woven textiles have better cushioning and absorbency, making them an ideal material for automotive application. High strength and softness are desired in sportswear manufacturing, thus driving the demand for non-woven textiles.

Competitive Landscape

Leading market players are focusing on scaling up their investments R&D to innovate their product offering while simultaneously participate in strategic merger and acquisitions to gain maximum market share, says FMI.

In November 2020, Duvaltex in collaboration with Steelcase developed new ocean waste clean impact textiles™ technology, which turns marine plastic waste into surface fabric with full traceability.  “Intersection” is the first ocean waste clean impact textiles™ and is available in 17 different colors and applicable on more than 50 Steelcase screen and panel product lines.

In March 2019, 3M launched its new sustainable insulation material “Thinsulate insulation” for fashion and clothing industry, made from 100% recycled fabric and plastics. This product is expected to reduce the carbon footprint of fashion industry.

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Key Segments Covered in Technical textiles Market Study:

Application:

  • Agrotech
  • Buildtech
  • Hometech
  • Indutech
  • Sportech
  • Packtech
  • Mobiltech
  • Meditech
  • Clothtech
  • Geotech
  • Protech
  • Oekotech

Process:

  • Nonwoven
  • Composites
  • Others

Region:

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