Market Research Blog – Page 3457 – New Product Development

Global Industrial Insulation Industry Set to Skyrocket, Surpassing US$ 12.66 Billion by 2032, Fueled by Induction Insulators and Booming Construction Sector

As per the reports published by FMI, the global industrial insulation industry is projected to have an average-paced CAGR of 5% during the forecast period. The current valuation of the market is US$ 7.77 Billion in 2022. The market value of the industrial insulation market is anticipated to surpass a valuation of US$ 12.66 Billion by the year 2032. A historical market valuation of US$ 7.4 Billion has been recorded by the experts of Future Market Insights for the concerned market during the base year.

FMI has analyzed that growing industrialization and urbanization have resulted in a surge of construction and industrial activities in many regions across the world. Insulation materials have high usage across these sectors and therefore the demand for industrial insulation is estimated to rise at a rapid pace.

Since these insulators guard the equipment in extremely high and low temperatures, and reduce the risk of accidents, along with preventing moisture condensation. These aspects are estimated to bolster the growth of the market in the forthcoming years. The growing consumer awareness and robust economic growth are anticipated to bring extensive growth opportunities to the industrial insulation market.

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To maintain a safe work environment, industries across the globe are highly implementing insulation systems. However, certain aspects are estimated to impede the growth of the market. As per the analysis of FMI, the installation charges involved with industrial insulation systems are very high, and a lot of regulatory approvals are required before installations. Environmental sustainability concerns are estimated to act as a major restraint in the progression of the industrial insulation market.

Key Takeaways from the Industrial Insulation Market

The industrial insulation market is estimated to register an average-paced CAGR of 5% through the forecast period.
The stone wool segment by product type category is estimated to hold considerable shares in the upcoming years. The segment accounted for 23% of revenue shares in 2021.
The CMS Fiber segment is anticipated to progress at a CAGR of 3.9% during the period 2022-2032.
The North American region is expected to dominate the global industrial insulation market with the U.S. as the dominating country, which is expected to surpass a valuation of US$ 2.42 Billion by the end of 2032.

“Rise of the petrochemical, oil & gas industries across the developing economies are estimated to create lucrative growth opportunities for the industrial insulation manufacturers.” – Says an FMI Analyst

Competitive Landscape in the Industrial Insulation Market

This statistical study conducted by Future Market Insights of the concerned insulation market encompasses successful business strategies deployed by the key vendors for biometric-as-a-security. The industrial insulation market is fragmented and the key players are deploying organic and inorganic growth strategies to compete in the market.

The biggies are heavily investing in research and development activities to make technological advances while manufacturing insulation systems for better services to the end-use industries.

Recent Developments

In March 2021, Cabot Corporation launched its ENERMAXTM 6 carbon nanotube (CNT) new series. These nanotubes are the company’s latest addition to its portfolio of high-performance CNTs. It has a high aspect ratio, becoming the most conductive multi-walled product
Since July 2021, Rockwool Manufacturing has commenced commercial production of stone wool insulation products. The state-of-the-art facility manufactures ROCKWOOL’s residential, commercial, and industrial stone wool insulation and is the first post-pandemic expansion in stone wool insulation manufacturing capacity in North America.
In June 2019, Knauf Insulation, a manufacturer of industrial insulation in the U.S. and Europe successfully completed its extension of the Rock Mineral production facility in Western Europe. The company has reposted that the new production capacity is more than 110 kilotons.
In October 2018, Saint Gobain, a France-based manufacturer of high-performance construction materials, successfully acquired Kaimann, a European producer of elastomeric insulation materials. The organization thus hopes to fortify its position in the industrial insulation market in Europe.

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Some of the key players proliferating in the market are

Rockwool Insulation A/S
Poroc Group Oy
Knauf Insulation
TechnoNICOL Corporation
Anco Products, Inc.

Key Segments in the Industrial Insulation Market

By Material:

Stone Wool
Glass Wool
CMS Fibers
Calcium Silicate
Cellular Glass
Foamed Plastic
Others

By Product:

Pipe
Board
Blanket
Others

By Application:

Power Generation
Petrochemical & Refineries
EIP Industries
LNG/LPG
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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India Retail Mineral Turpentine Oil Industry Gears Up for Explosive Growth, Set to Skyrocket to US$ 113.2 Million by 2032

Future Market Insights in its latest market study reveals that the India retail mineral turpentine oil (MTO) industry is highly consolidated where the majority of shares are held by a few domestic leading players. Key players operating in the market majorly deal in bulk quantities of MTO.

The India retail mineral turpentine oil (MTO) market is projected to reach a valuation of US$ 45.8 Million by the end of 2022. It is expected to top a valuation of US$ 113.2 Million by 2032. Sales of retail mineral turpentine oil in the country are expected to witness a steady growth rate at a CAGR of 9.5% during the evaluation period from 2022 to 2032.

Retail packaging sizes of MTO are generally repacked by distributors or retailers. Hence, the India retail mineral turpentine oil market is fragmented and is expected to hold immense potential for key players operating in the market.

The retail packaging of MTO has witnessed high growth rates over the past few years. Key players can gain substantial momentum and capture the majority of market shares by launching MTO in retail sizes. They are striving to introduce their in-house products with innovative brand names and high quality in the market to expand their client base.

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Mineral turpentine oil is expected to find its majority of applications in paints and coatings for the manufacturing of products such as thinners and wood primers. Paint manufacturers are primarily active in retail sales of MTO through their authorized outlets. Paint manufacturers are also focusing on creating robust sales networks with the presence of various authorized dealers and customer loyalty programs.

Key Takeaways: India Mineral Turpentine Oil Market

From 2017 to 2021, the market for retail mineral turpentine oil in India expanded at a compound annual growth rate (CAGR) of 1%.
North India is expected to account for 7% of the overall India retail mineral turpentine oil market share in the evaluation period.
The West India retail mineral turpentine oil market currently holds around 8% of the value share in the India market.
Based on application, the wood primers segment is estimated to account for around 7% of the retail mineral turpentine oil produced in India.
The 10.1 L – 20 L packaging size segment is expected to account for the majority of share in the India retail mineral turpentine oil market in the next ten years.

Competitive Landscape: India Retail Mineral Turpentine Oil Market

Key Companies Profiled

Bharat Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited
Indian Oil Corporation Limited
Nayara Energy Ltd.
Mehta Petro-Refineries Limited
Jay Chemical
Shambhoo Petrochem (p) Ltd.
Paragon Chemicals
TotalEnergies S.E.
Idemitsu Kosan Co. Ltd
Shell Plc
ExxonMobil Corporation
Witmans Industries Pvt.Ltd
Labdhi Petrochem

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Get More Insights into the India Retail Mineral Turpentine Oil Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the India retail mineral turpentine oil market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the Indian market potential, growth, and scope, the market is segmented based on packaging size, application, and region.

India Retail Mineral Turpentine Oil Market Outlook by Category

By Packaging Size:

100 mL – 499 mL
500 mL -1 L
1.1 L – 5L
5.1 L – 10 L
10.1 L – 20 L

By Application:

Paint Thinner
Wood Primers
Dry Cleaning
Brush Cleaning
Art Works
Others

By Region:

North India
South India
East India
West India

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Hydrophobic Coatings Inddustry Set to Make Waves: Forecasted CAGR of 5.5% Signals Robust Growth, Projected Valuation to Surge to US$ 3.42 Billion by 2032

The global hydrophobic coatings industry is projected to have a moderate-paced CAGR of 5.5% during the forecast period. The current valuation of the hydrophobic coatings market is US$ 2 Billion in 2022. The demand for hydrophobic coatings is anticipated to reach a high of US$ 3.42 Billion by the year 2032.

The demand for hydrophobic coatings is growing as a result of efforts made by governments of developing countries to stimulate their economies. In December 2021, for instance, researchers at India’s International Advanced Research Centre for Powder Metallurgy & New Materials created super-hydrophobic industrial coatings for stainless steel. Members of the group have investigated the breakthrough with an eye toward implementing it in the maritime, mechanical, electronic components, piping, power, and nuclear sectors.

Products that have industrial coatings are better able to withstand water because they prevent water from adhering to their surfaces. Because of population growth and urbanization, construction projects are on the rise across the globe. This is especially true in the rapidly developing economies of Asia.

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In addition to rising disposable income and shifting consumer preferences, the expansion of the automotive industry is also anticipated to boost demand for industrial coatings. The top companies in this industry are spending heavily on research and development as well as mergers, acquisitions, and partnerships in order to maintain or expand their dominant hydrophobic coatings market positions. Private and public investment aimed at expanding product use into new areas is expected to strengthen the strategic landscape of the industry.

Key Takeaways

Since many different types of vehicles, aircraft, and medical gadgets are mass-produced in these regions, North America and Europe together make up more than half of the global hydrophobic coatings market.
In 2022, the automobile industry accounted for over 20% of the product’s entire demand.
The anti-microbial coating is predicted to have the highest growth rate due to its widespread use in the healthcare sector.
Since it is increasingly being used in the production of biocompatible stainless-steel operating and surgical tools, demand for the product is anticipated to increase dramatically in the medical industry.

Competitive Landscape

Some of the most important companies in the hydrophobic coatings market include

PPG
3M
NEI Corporation
Nippon Paint Holdings Co., Ltd.
BASF SE
Ant Lab
Surfactis
Aculon
Aakzo Nobel
Abrisa Technologies
Cytonix
NEI Corporation
NeverWet
Nippon Paint Holdings Co., Ltd.

In order to keep their dominant position in the hydrophobic coatings market, the corporations focus primarily on developing new products and enhancing their production capabilities.

Recent Developments

GKN Aerospace’s transparencies centre of excellence in Garden Grove, California, was the location in July 2018 where the company introduced a new hydrophobic coating for cockpit glass. A permanent surface treatment that greatly enhances resistance to surface abrasion also provides the rain-shedding in-flight/ground activity that is provided by the surface.
NEI Corporation launched the UV-Protect (UVP) technology in March of 2018, with the goal of developing upgraded versions of its successful NANOMYTE® coating products. These upgraded versions are intended to deliver distinctive characteristics in coatings that have unrivalled durability. The NANOMYTE® line of surface treatments and protective industrial coatings coatings include characteristics such as hydrophobicity, oleophobicity, self-healing, fog resistance, scratch resistance, anti-icing, self-cleaning, and anti-corrosion. These characteristics can be found in the protective coatings.

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Key Segments in the Hydrophobic Coatings Market

By Property:

Anti-microbial
Anti-icing/wetting
Anti-fouling
Anti-corrosion
Self-cleaning
Others

By Application:

Aerospace
Automotive
Construction
Medical
Optical
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Global Staple Acrylic Fiber Industry Valuation, Projecting a Whopping US$ 4,230.9 Million by 2032, Fueled by Robust Textile Industry Demand

The global staple acrylic fiber industry is expected to grow from US$ 2,964.4 Million in 2022 to US$ 4,230.9 Million by 2032. FMI predicts the overall staple acrylic sales to rise at 3.6% CAGR owing to consistent demand from the textile industry, which is a major consumer of acrylic fibers and consumes more than 50% of the total staple acrylic fiber production.

Although acrylic fabric is among the least breathable types of textiles, it is preferred for applications requiring heat retention. For instance, tracksuits, hoodies, and athletic pants are frequently constructed of acrylic fabric.

The market has been predominantly influenced by certain macroeconomic and industrial factors including demographic dividends, textile industry growth, economic growth, per capita disposable income, etc.

In its natural condition, acrylic is very similar to wool; but, depending on the spinning mechanism employed, it can be made to resemble other fabrics, such as cotton. Acrylic feels like wool and is warm, soft, and lightweight. It has great colorfastness and stains quite successfully.

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Staple acrylic has become a popular material for upholstery, carpeting, rugs, and other conventional wool-dominated homeware product categories. Demand for staple acrylic fibers from the sectors like textiles, furniture, and automotive is anticipated to increase due to the various qualities that staple acrylic fiber offers.

China is the world’s largest producer of acrylic fabric, as well as the largest market for acrylic garments. The country exports a large portion of its textile and clothing production to several regions of the world.

Key Takeaways:

The global staple acrylic fiber market is projected to witness a CAGR of 3.6% during the period between 2022 and 2032.
By blend, the acrylic-wool segment is expected to expand at a CAGR of 4.0% during the forecast period.
By end use, the textile & apparel segment is expected to grow at a CAGR of 4.1% during the projected period.
China’s staple acrylic fiber market is expected to reach about US$ 1,106.0 Million by the end of 2032.
The staple acrylic fiber market in India is expected to reach US$ 315.8 Million by the end of 2032.

Competitive Landscape

According to FMI analysis,

Aksa Akrilik Kimya Sanayii AS
Thai Acrylic Fibre Co. Ltd (TAF)
Jilin Chemical Fiber Co., Ltd.
Taekwang Industry Co. Ltd.
Indian Acrylics Ltd.
CHEMTEX GLOBAL CORPORATION
Vardhman Acrylics Ltd
Pasupati Acrylon Ltd
Japan Exlan Co. Ltd
Kaneka Corporation

others are identified as the key manufacturers in the Staple Acrylic Fibre market.

Key market participants are investing a fair share of their revenue in R&D and are concentrating on the adoption of new & modified manufacturing techniques to get high-quality products.

For instance:

In August 2020, Aksa Akrilik, an acrylic Fibre producer, added another line to its innovative efforts named Everfresh. Developed after extensive research, Everfresh offers a solution to consumers’ hygiene expectancies with its enduring antimicrobial properties is environment-friendly, and also contains no harmful chemicals.

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Staple Acrylic Fibre Market Segmentation

By Dyeing Method:

Dyed
- Acid
- Gel
Undyed

By Blend:

Acrylic-Wool
Acrylic-Viscose
Acrylic-Nylon
Acrylic-Cotton
Others

By End Use:

Textiles & Apparel
Furniture Upholstery
Industrial Filtration Material
Building & Construction
Automotive

By Region:

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

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Nandini Singh Sawlani

Global Food Extruder Market Set to Surpass US$ 87.2 Billion by 2033, Driven by a Resilient 3.9% CAGR, Indicates FMI Analysis

The global food extruder market is currently holding a significant valuation of US$ 59.6 billion and demonstrating sustained momentum. Projections highlight a steady Compound Annual Growth Rate (CAGR) of 3.9% throughout the forecast period, aiming to propel the market to an impressive US$ 87.2 billion by 2033.

Renowned for its technological advancements, food extrusion emerges as a pivotal process, offering extensive versatility and numerous advantages. Extruders efficiently handle a diverse array of ingredients, enabling the production of a wide range of food items characterized by diverse textures, appearances, and colors. From the enticing crunchiness of snacks to the nutritional appeal of breakfast cereals, pet food formulations, and the burgeoning market of meat alternatives, the applications of food extrusion are vast and promising.

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Driving Factors:

The evolving consumer lifestyle, characterized by an increasing preference for packaged and processed foods, propels food businesses to adopt advanced food extrusion technology. This technology not only enhances productivity but also promotes energy efficiency.

Innovation and Expansion:

Emerging companies are embracing food extruder systems to diversify their product portfolios, venturing into the production of various processed food items, including those made from grains and spices.

Key Highlights:

The dominant product category is the single screw extruder, expected to flourish at a 3.2% CAGR (2023 – 2033). Its ease of maintenance and operational flexibility contribute to its sustained growth.
Leading the end user segments, food processing is projected to expand at a 3.6% CAGR between 2023 and 2033. Its significant contribution to the food processing domain accounts for its robust growth rate.
The US food extruder market has exhibited strong growth and is poised to achieve the highest CAGR of 3.0% throughout the forecast period. Valued at US$29.2 billion, this growth is propelled by a burgeoning food and beverages industry, coupled with a rising demand for nutritious processed bars.
China, expected to secure the second-largest market share of US$5.8 billion by 2033, is anticipated to experience the second-highest CAGR of 2.9% between 2023 and 2033. This growth is attributed to an increase in per capita income and the prevalence of contemporary instant food trends in China.

Competitive Landscape:

Prominent companies within the food extruder market prioritize enhancing unit efficiency, speed, affordability, and reliability. Their strategies encompass employing techniques like mergers and acquisitions to bolster supply chains and diversify distribution channels. Key players in this market include Buhler, Baker Perkins, Coperion, Lindquist Machine, and Pavan SPA.

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Recent Market Developments:

Baker Perkins has unveiled novel extruders that leverage twin-screw extrusion technology at the core of their versatile systems, enabling the production of a wide array of high-quality extruded ingredients.
Buhler has expanded its processing unit’s offerings with the integration of advanced extruders, catering to the production of aqua feed, pet food, breakfast cereals, and food ingredients. The rising demand for packaged and affordable processed foods is driving this innovation.

Food Extruder Market by Category:

By Type, the Food Extruders Market is Segmented as:

Single Screw Extruders
Twin Screw Extruders
Contra Twin Screw Extruders

By End Use, the Food Extruders Market is Segmented as:

Food Processing
Bakery Confectionaries
Others

By Sales Channel, Food Extruder Market is Segmented as:

Direct
Retail Sales

By Region, Food Extruder Market is Segmented as:

North America
Latin America
Europe
The Middle East and Africa
East Asia

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Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Electric Kebab Machine Market Targets US$ 560 Million Valuation by 2033, Propelled by a Strong 6.7% CAGR

The global electric kebab machine market, currently valued at US$ 292 million, is poised for sustained growth, driven by robust projections. Forecasts indicate a strong Compound Annual Growth Rate (CAGR) of 6.7% from 2023 to 2033, aiming for an impressive valuation of US$ 560 million.

An electrifying innovation in culinary technology, the electric kebab machine distinguishes itself by harnessing the power of electricity to provide consistent and reliable heat—a crucial element in the kebab-making process. Whether serving culinary enthusiasts, home chefs, or those with a penchant for the delectable taste of freshly grilled kebabs, this appliance represents a transformative addition to the gastronomic landscape. Insights provided by Future Market Insights, Inc. illuminate the market’s potential, highlighting its significance in driving culinary innovation forward.

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United States Leads with a Dominating Share in the Electric Kebab Machine Market:

In accordance with the electric kebab machine market survey report, the United States had the greatest market share of 33% in overall revenue generation. The USA Electric kebab machine market is projected to retain its dominance by growing at a healthy CAGR of 7.2% and attaining a sales volume of nearly US$ 140 Million in the final year of this projected timeline.

Factors Driving the Growth of Electric Kebab Machine Market in the USA

Owing to the greater prevalence of at-home and outdoor cooking facilities, the Region had the largest number of electric Doner kebab machine sold in the year 2022. Barbecuing and grilling steaks have become a vital element of consumer behavior in the USA, combined with a desire for taste and flavor variation in dishes. As stated by the Hearth, Patio, and Barbecue Association, 30% of customers in the country use grills or smokers, resulting in increased momentum for the USA electric kebab machine market.

Growth Prospects for Electric Kebab Machine Market in European Countries:

UK Emerges as a Key Player with Rapid Growth in the Electric Kebab Machine Market

During the years 2023 to 2033, the United Kingdom’s electric kebab machine industry is expected to rise rapidly with the highest CAGR of 8.4% of any other country. This expansion from the previous growth rate of 5.3% during the years 2018 to 2022 can be ascribed to millennials’ and youths’ increased interest in recreational culinary activities.

Growing Trends in European Electric Kebab Machine Market

Similar emerging trends in the electric kebab machine market can be traced in other European nations resulting in an outgrowth of regional players in recent years. Additionally, the German, France, and Italy electric kebab machine market income is getting highly driven by the tourists’ predilection for grilled vegetables and meats in their diet.

South Korean Market Witnesses Rising Demand for Electric Kebab Machines:

Factors Behind the Growth of Electric Kebab Machine Sales in South Korea

As per the records of the electric kebab machine market statistics report, the product demand in South Korea is expected to grow at a rate of 5.2% and is headed to contribute around US$ 14 Million by the year 2033. South Korean electric kebab machine market witnessed rapid development as a result of rising street food consumption and investment in barbeque items in important regions such as China and South Korea.

Innovative Features Propel South Korea’s Electric Kebab Machine Market

The ubiquity of sandwiches, hotdogs, and French toast on outdoor barbecues, as well as the rising desire for items other than burgers and fries, are opening the door for the regional electric kebab machine market. Electric kebab machine manufacturers in South Korea are heavily putting money into new product designs with sophisticated technical features in order to give consumers the greatest convenience.

Japan’s Strategy to Counter Lower Demand for Electric Kebab Machines:

Japan’s Electric Kebab Machine Market Shows Steady Growth

As per the electric kebab machine market report, the overall growth rate of the target market in Japan is estimated to be around 6.9% and is projected to reach almost US$ 35 Million by the end of the year 2033.

Traditional Inclination and Export Sector Fuel Japan’s Electric Kebab Machine Market

The traditional inclination for healthy foods, coupled with changing lifestyles and the desire for handmade grilled foods, are the primary reasons for the continued expansion of the electric kebab machine industry in Japan. Though the growth rate in terms of sales of electric kebab machine in Japan is less than that 8.4% in China, the strengthening of the export sector has made it a lucrative region for global and regional market players.

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Key Players Profiled in the Electric Kebab Machine Market Report:

Kebapchef
Lavna
Lazada
Wellberg

Key Segments Covered:

By Voltage:

6 Volts
110 Volts
220Volts
380 Volts
Others

By Buyer Type:

Commercial Buyers
Household Buyers
Others

By Sales Channel:

Food Equipment Specialty Retailers
Brand Franchised Stores
Modern Trade
E-Commerce Platforms
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and ASEAN
Oceania
Middle East and Africa (MEA)

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Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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Nandini Singh Sawlani

Commercial Beverage Dispenser Market Targets US$ 1,700 Million Valuation by 2033, Driven by a Robust 6.1% CAGR

The commercial beverage dispenser market is aiming to elevate its valuation from US$ 914.3 million in 2023 to an impressive US$ 1,700 million by 2033. This upward trajectory is firmly grounded in robust sales performance and bolstered by a noteworthy Compound Annual Growth Rate (CAGR) of 6.1% throughout the forecast period.

The strategic implementation of upselling techniques has emerged as a pivotal driver behind the global expansion of Quick Service Restaurant (QSR) chains and dining establishments. This trend has notably accelerated the widespread adoption of commercial beverage dispensers, renowned for their durability and long-term utility, particularly prominent during festive seasons.

Within the fast-food sector, convenience holds significant sway, and commercial beverage dispensers align seamlessly with this preference. This characteristic, coupled with the simultaneous increase in consumer income and subsequent spending, has fueled demand. This convergence has positively influenced discretionary spending patterns, amplifying indulgences such as fast food consumption, further propelling the market forward.

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Key Observations:

The leading material segment is metal, projected to flourish with a robust Compound Annual Growth Rate (CAGR) of 6.5%. This choice is driven by metal’s innate conductivity and its ability to withstand temperature variations effectively. Vendors favor metal as the material of choice.
Among beverage types, the highest-performing segment is alcoholic beverages, expected to thrive with a CAGR of 5.8%. The surge in consumption of alcoholic drinks can be attributed to various factors, including the increasing prevalence of depression and work-related stress among both young individuals and adults.
The Chinese market for commercial beverage dispensers has exhibited remarkable growth, anticipated to attain the highest CAGR of 8.1% during the forecast period. This remarkable growth trajectory is attributed to amplified alcohol consumption, the impact of the pandemic, and rapid digitization.
While China’s ascent in the market is highlighted by the highest CAGR, North America commands the largest market share, valued at US$ 148.5 million. This region is anticipated to surpass a valuation of US$ 336.9 million by 2033. The surge in alcoholic beverage consumption, coupled with an expanding consumer base embracing advanced technologies, underpins this growth.

Primary Growth Catalysts of the Commercial Beverage Dispenser Market:

As per FMI’s analysis, the trajectory of growth within the commercial beverage dispenser market is set to gain momentum, propelled by the escalating proliferation of convenience shops, shopping centers, and recreational hubs. Furthermore, manufacturers of commercial beverage dispenser equipment are poised to unlock substantial developmental prospects, driven by emerging trends such as eco-friendly culinary practices, the evolution of smart kitchens, and the integration of the Internet of Things (IoT).

The augmentation of this market is expected to be expedited by the adept deployment of strategies by manufacturers, aimed at elevating profitability, attracting higher consumer footfall, and nurturing robust customer relationships. The extent of device integration holds paramount significance in enhancing in-store efficiency through the provision of all-encompassing solutions. The contemporary customer base leans on self-service technologies to expedite the checkout process.

Competitive Landscape Analysis:

Market players deploy their capabilities to effectively segregate distinct funnels and compartments, ensuring a seamless and user-friendly navigation experience on screen. In their pursuit of expansion, manufacturers adopt strategies such as acquiring smaller entities, forming strategic partnerships with complementary brands, and orchestrating mergers to enhance their supply chains. Notable contenders in the commercial beverage dispenser market encompass Santos, Bunn, Grindmaster Cecilware, Taylor, and Avantco Equipment.

Recent Market Advancements:

Santos has introduced the Cold Drink Dispenser 34, designed to cater to a diverse range of cold beverages. This innovative dispenser boasts multiple capacities for dispensing, including 12, 24, and 36 liters.
Bunn has unveiled its LCA-1 LP Low Profile with Scholle 1910LX, a cutting-edge offering designed for dispensing low-to-medium volumes of coffee-on-demand, particularly for shelf-stable products.

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Key Segments Covered in the Commercial Beverage Dispenser Market Report:

By Base Material:

Metallic
Glass and Acrylic
Polycarbonate
Other Base Materials

By Dispenser Style:

Push Button
Lever

By Type:

Drop-in
Countertop

By Beverage Type:

Alcoholic
Non-alcoholic

By End User:

Household
Cafes & Bars
Hotels & Restaurants
Others

By Region:

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

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Author:

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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Nandini Singh Sawlani

Global Fish Filleting Machine Market Set to Surpass US$ 3,470 Million by 2033, Driven by Steady 4.1% CAGR

The global fish filleting machine market projections indicating a valuation exceeding US$ 3,470 million by 2033, driven by a robust Compound Annual Growth Rate (CAGR) of 4.1%. As forecasted by industry experts, including Future Market Insights, this anticipated growth represents a significant upsurge from its 2023 valuation of US$ 2,325 million, highlighting its consistent trajectory and enduring potential in the realms of automation and innovation.

FMI’s analysis attributes the substantial growth of the filleting machine market to technological advancements, increased consumer preference for processed fish, and improved logistics. The utilization of filleting machines ensures hygienic processing devoid of human contact, a factor that significantly influences consumer interest and drives sales of filleted fish products.

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Market Growth and Influencing Factors:

In light of the comprehensive analysis conducted by Future Market Insights (FMI), the Fish Filleting Machine Market has demonstrated substantial growth driven by a confluence of factors. This surge is attributed to the integration of technological advancements, a growing consumer inclination towards processed fish products, and advancements in logistics. The adoption of fish filleting machines is reshaping the landscape, ensuring hygiene and untouched quality, thereby influencing the consumer preference for filleted fish products.

Ensuring Quality and Hygiene through Technological Advancements:

The utilization of fish filleting machines has introduced a paradigm shift in fish filleting practices, elevating hygiene standards and quality preservation. These machines offer the advantage of maintaining cleanliness and eliminating human contact, effectively enhancing the desirability of filleted fish products in the market. The noticeable differences in the quality and physical attributes of machine-filleted fish reinforce the importance of consistent performance, positioning these machines for substantial adoption within the food and beverage industry in the forecast period.

Key Report Attributes and Market Projection:

The current Fish Filleting Machine Market value is estimated at US$ 2,325 million in 2023. With a projected Compound Annual Growth Rate (CAGR) of 4.1%, the market is anticipated to reach an impressive value of US$ 3,470 million by 2033. This forecast underscores the significant growth potential within the industry and the upward trajectory it is poised to follow.

Historical Insights and Industry Advancements:

Delving into historical market trends, FMI’s experts unveil an exceptional surge in the Fish Filleting Machine Market over the past years. The market value demonstrated a remarkable increase of approximately US$ 1,145 million from 2022 to 2023 alone, reflecting an impressive growth trajectory. Notably, during the period of 2018 to 2023, the market witnessed a steady Compound Annual Growth Rate (CAGR) of 2.9%.

Quality Advantages and Cost-Efficiencies:

The surge in sales of industrial fish filleting machines can be attributed to their superior performance, impeccable quality standards, and enhanced hygiene. By minimizing individual errors and material losses, these machines offer substantial cost savings potential when compared to manual filleting practices. This advantage is a driving force in the adoption of these machines across the industry.

Opportunities in Seafood Processing and Aquaculture:

The growth of seafood processing plants in recent years has not only bolstered market prospects but also expanded opportunities for vendors to drive sales of new fish filleting machine units. Additionally, the thriving aquaculture industry, characterized by controlled fish cultivation, nourishment, and harvesting, has contributed to price stability and amplified farmed fish production. These dynamics are instrumental in shaping the market landscape for multi-species fish filleting machines, driven by an increase in consumer demand.

In essence, the fish filleting machine market is poised for significant expansion, driven by a confluence of technological advancements, evolving consumer preferences, and an ever-growing seafood industry. The forecasted growth highlights the industry’s transformative journey towards elevated hygiene standards, quality preservation, and operational efficiency.

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Key Players:

AGK Kronawitter GmbH
Uni-Food Technic
Kroma
Marel
Carnitech
BAADER
Breivik
Grupo Josmar
Sepamatic
PF MAX Company
Grasselli
Pisces Fish Machinery
WOLFKINGTECH
KM Fish Machinery
POWERTECH

Key Segments in the Fish Filleting Machine Market:

By Machine Type:

Stand-alone System
Integrated System

By Operation Type:

Automatic
Semi-automatic

By Sales Channel:

Direct Procurement
E-commerce Platforms
Others

By Region:

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

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Author:

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Global Mechanical Seals Market Targets US$ 5.0 Billion Valuation by 2033, Driven by Strong 4.1% CAGR | Future Market Insights, Inc.

The global mechanical seals market is poised for substantial expansion, with forecasts indicating a valuation of US$ 3.3 billion in 2023. This upward trajectory is expected to persist, propelled by a robust Compound Annual Growth Rate (CAGR) of 4.1% from 2023 to 2033, culminating in an estimated market worth of US$ 5.0 billion by 2033. This compelling narrative of growth finds its foundation in the thriving manufacturing and industrial sectors, underscoring the indispensable role of mechanical seals across a diverse range of applications.

Operating discreetly yet indispensably, mechanical seals assume a critical function in managing leakage in rotating equipment, including mixers and pumps. Their primary objective is to prevent the escape of liquids and gases from the machinery’s confines into the surrounding environment. Beyond fortifying the integrity of the equipment, these seals significantly contribute to minimizing environmental emissions, aligning seamlessly with the global imperative for environmental sustainability.

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Key Insights from the Mechanical Seals Market:

North America commands over 25% of the market share, driven by the expansion of end-use verticals such as chemicals, oil & gas, and power. The United States alone houses nearly 9,000 independent oil and gas power plants.

Europe holds over 20% of the market share, attributed to prominent manufacturers like A.W. Chesterton Company. The company has initiated operations in Sweden, establishing a manufacturing facility for compression packing used in valves and pumps. This facility is dedicated to serving Northern Europe, supplying ready-to-install packing rings and compression packaging in metric cut lengths. Additionally, it offers customer-specific kits for original equipment manufacturers (OEMs) and direct service partners of Chesterton.

The Asia-Pacific region is projected to experience the fastest growth rate in the mechanical seals market, driven by the expanding industrial applications in developing economies.

“Given the peak state of the manufacturing vertical, the global mechanical seals market is poised for substantial growth in the projected period,” states an analyst from Future Market Insights.

Noteworthy Developments in the Competitive Landscape:

A.W. Chesterton Company introduced the patented Chesterton Matrix Rotary Seal in May 2020. This split seal employs two material technologies, engineered to perform effectively on equipment with significant run-out shafts and wear.
John Crane unveiled the ‘Elastomer Bellows Cartridge Seal’, named T4111, in March 2019. This one-time-use cartridge seal is designed for sealing centrifugal and rotary pumps, as well as analogous rotating shaft machines.
Dover announced the Air Mizer solutions in April 2019, specifically designed for the AM Conveyor Equipment Manufacturers Association shaft seal. This innovation caters to CEMA screw conveyors and equipment.
Hallite Seals continued its partnership with MSOE (Milwaukee School of Engineering) in March 2018, focusing on integrating design principles for sealing materials and seals with reliable 3rd-party authentication.
John Crane extended its 5600 range seals with the introduction of the novel 5610 Liquid Quench (5610L) in November 2021.
Gallagher Fluid Seals, Inc. concluded the acquisition of IEQ Industries in May 2022, contributing to the diversification of their product mix.

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Key Players:

Prominent players operating in the market include EagleBurgmann India Private Limited, Flowserve Corporation, Flex-a-seal, Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken AB, Freudenberg Sealing Technologies GmBH and Co. KG., Dana Corporation, Telleborg Industries, and others.

Key Segments Profiled in the Mechanical Seals Industry Survey:

Global Mechanical Seals Market by Type:

O-ring Mechanical Seals
Lip Mechanical Seals
Rotary Mechanical Seals

Global Mechanical Seals Market by End Use Industry:

Mechanical Seals in Oil and Gas Industry
Mechanical Seals in General Industry
Mechanical Seals in Chemical Industry
Mechanical Seals in Water Industry
Mechanical Seals in Power Industry
Mechanical Seals in Other Industries

Global Mechanical Seals Market by Region:

North America Mechanical Seals Market
Latin America Mechanical Seals Market
Europe Mechanical Seals Market
Asia Pacific Mechanical Seals Market
Middle East and Africa Mechanical Seals Market

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Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Global Marine Hatch Covers Market Targets Striking US$ 327.7 Million Valuation by 2033, Fueled by Robust 7.6% CAGR

The global marine hatch covers market forecasted a valuation of US$ 157.5 million by 2023. With its impact reverberating across various sectors, this industry emerges as a formidable contender for sustained growth. Noteworthy is the projected trajectory, with the marine hatch covers market anticipated to maintain an impressive Compound Annual Growth Rate (CAGR) of 7.6% from 2023 to 2033, ultimately reaching an estimated worth of approximately US$ 327.7 million by 2033.

Marine hatch covers serve a multifaceted role within the maritime sphere, offering a plethora of advantages that fuel their escalating demand. Beyond their primary function of safeguarding interior materials from the damaging effects of UV rays, these covers play a pivotal role in upholding optimal conditions within a ship’s cabin.

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Global Marine Hatch Covers Market Sees Positive Growth Trajectory with Expanding Shipping Industry:

The marine hatch cover market is witnessing robust growth, driven by the increasing demand to secure cargo and cargo spaces while ensuring watertight conditions. Marine hatch covers play a pivotal role in safeguarding goods by preventing water ingress, damage, or loss during sea transport, akin to sealing a box’s lid to safeguard its contents.

Diverse Types Enhance Marine Hatch Cover Market:

Marine hatch covers come in several types, each designed for specific vessel requirements. Lifting, folding, rolling, roll stowing, and sliding hatch covers are commonly used in maritime transportation. Container ships often employ lift-away and lifting-type hatch covers, while cargo ships favor folding hatch covers. Rolling-type hatch covers, including piggyback & telescopic, side rolling, and end rolling variants, are prevalent in bulk carriers.

Globalization Fuels Market Growth:

In the current era of globalization, heightened international trade propels the shipping industry, bolstering growth in the marine hatch cover market. The expansion of the shipbuilding sector on a global scale further contributes to the upsurge in demand. Additionally, the surge in fishing activities and marine tourism drives the construction of large fishing vessels and cruise ships, further boosting the marine hatch cover market.

Innovations for Growth:

MacGregor, a subsidiary of Cargotec, secured a significant hatch cover order for twelve 3,055 TEU containerships in November 2021, in collaboration with Japan Marine United (JMU) and Taiwanese shipping firm Wan Hai Lines. Baier Hatch introduced an ABS Certified marine hatch in September 2021, catering to ABS-classed vessels and facilities, offering versatility and vertical attachment capabilities. COOPS & NIEBORG BV unveiled hydraulic hatch cover gantry cranes in October 2019, catering to diverse sizes and capable of handling hatch covers, grain bulkheads, and tween deck hatch covers.

The marine hatch cover market thrives as it aligns with the growing demand for efficient cargo protection and the expansion of maritime activities across various industries. As global trade and shipping continue to evolve, the market is poised for sustained growth in the foreseeable future.

Prominent Market Players:

Key players in the marine hatch cover market include Cargotec Corporation, IKNOW MACHINERY CO., LTD., Baier Hatch Company, Inc., COOPS & NIEBORG BV, Chongqing Guanheng Technology Development Co., Macor Marine Solutions GmbH and Co. KG, and TTS Group ASA. These industry leaders actively engage in strategic initiatives like product launches, partnerships, acquisitions, and collaborations to enhance market presence and gain a competitive edge on the global stage.

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Key Segments Analysis:

By Vessel:

Service Vessels
Passenger Vessels
Cruise Ships
Ferries
Cargo Carriers
Tankers
Container Ships
Bulk Carriers
Other Cargo Ships
Fishing Vessels
Personal Watercraft & Sailboats
Other Vessels

By Type:

Sliding Type
Rolling Type
Roll Stowing
Lifting Type
Folding Type

By Material Used:

Aluminum
Steel
Other Materials-based

By Region:

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

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Author:

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani