Expanding Horizons in the Synchronous Condenser Market, Expected to Reach US$ 1.76 Bn with a 7.0% CAGR by 2029

The global synchronous condenser market is expected to reach roughly US$ 1.01 billion in 2022, with a year-on-year growth rate of 7.9%. However, with the increasing usage of the synchronous condenser across a wide range of end-use sectors, the entire market is expected to increase at an 8.2% CAGR between 2022 and 2029, totaling US$ 1.76 billion by 2029.

Future Market Insights’ recent report on the synchronous condenser market includes a global industry analysis from 2014 to 2021 as well as an assessment of the opportunity from 2022 to 2029. The study investigates the synchronous condenser market and gives important data for the forecast years of 2022 to 2029.

The key findings indicate that the global synchronous condenser market is expected to grow significantly over the forecast period due to a variety of factors, including an increase in the number of HVDC projects in developing countries such as China, India, and Indonesia, as well as the replacement of conventional generators and cooling facilities with synchronous condensers.

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The global synchronous condenser market value at US$ 1.01 Bn in 2022, and is estimated to increase at a CAGR of 8.2% during the forecast period of 2022-2029. This growth is majorly driven by the integration of renewable energy through solar and wind power plants and increasing installation of synchronous condensers to carry robust functioning of the power plants.

The rapid inclination toward wind and solar energy, in an attempt to reduce the dependency on fossil fuels, has been generating significant demand for synchronous condensers in recent years. According to FMI analysis, manufacturers are setting their sights on countries, such as China which is making great strides to increase energy production from non-fossil fuel sources.

Newer Opportunities Identified in Middle East & Africa

Regions such as North America and Europe, are likely to hold prominent market shares in terms of value. However, the South Asian market is estimated to project lucrative growth in the global synchronous condenser market over the forecast period of 2022-2029. This growth in the region is propelled by the rapid technological advancements and a growing number of HVDC projects in prominent countries such as India and Indonesia, among others.

Furthermore, the market of synchronous condensers is expected to grow predominantly in prominent countries of the Middle East and Africa including Saudi Arabia, Kuwait, Qatar, Abu Dhabi, Nigeria, and the U.A.E., owing to various macroeconomic factors such as growing urbanization, stable political & social backdrop, and rapid industrialization.

An increasing number of market players in the region have gained the confidence of foreign investors and grid operators to invest in the market. Moreover, refurbishment of synchronous condensers from old conventional plants and generators to new machines has added expressively positive momentum over the past years.

Also, the rapidly growing number of HVDC projects in MEA and the instalment of sustainable energy plants have boosted the demand for synchronous condensers to provide stability and robust functioning of power plants. These factors have resulted in significant growth of the synchronous condenser market in the region.

Rising Number of HVDC and Related Substation Projects Creating New Opportunities for Synchronous Condenser Manufacturers

The global market of synchronous condensers has been segmented based on different types of synchronous condensers, their multiple applications, and regions such as North America, Latin America, Europe, South Asia, East Asia, and Oceanand ia, Middle East and Africa.

  • By product, the newly built synchronous condenser is likely to hold prominent value shares in the global synchronous condenser market. This has majorly resulted from the increasing adoption of synchronous condensers over conventional cooling gas plants and the increasing installation of solar and wind farms in several countries.
  • Based on cooling, the water-cooled segment is expected to consume the majority share of the global synchronous condenser market value. This is driven by the increasing demand for water-cooled synchronous condensers across several regions. Furthermore, it is expected that the application of synchronous condensers in power plants and other similar machines will grow prominently throughout the forecast period.
  • Based on power rating, synchronous condensers ranging from less than 50 MVAR and from 50 to 80 MVAR are expected to consume a majority share of the global synchronous condenser market value. This is driven by the increasing construction of synchronous condensers under specified power ratings by key market players across several regions.

Synchronous Condenser Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global synchronous condenser market. Some of the examples of key players in the global synchronous condenser market are ABB Ltd., General Electric, Siemens AG, Mitsubishi Electric Corporation, WEG, and Eaton Corp. PLC, Voith GmbH, Ansaldo Energia, Toshiba Corporation, and Sustainable Power Systems Inc., among others.

The global synchronous condenser market is significantly consolidated with some players holding prominent shares of the market. These players are offering synchronous condensers under their business segments such as F.A.CT.S., and motors & generators, among others.

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Synchronous Condenser Market by Category

Product :

  • New synchronous condenser
  • Refurbished synchronous condenser

Cooling Type :

  • Air cooled
  • Hydrogen cooled
  • Water cooled

Power Rating :

  • Less than 50 MVAR
  • 50 to 80 MVAR
  • 80 to 100 MVAR
  • 100 to 150 MVAR
  • 150 to 200 MVAR
  • Above 200 MVAR

Starting Method :

  • Static frequency converter
  • Pony motors
  • Others

End Use :

  • Electrical power utilities
    • Electric grids
    • Solar farms
  • Mining
  • Commercial
  • Others

Region :

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

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Marine Radar Market to Sail Towards Success, Projected to Reach US$ 2.4 Billion with a 5.5% CAGR by 2033

Future Market Insights (FMI) in a new study has presented optimistic outlook for the Marine Radar Market, especially with the advent of next generation solid state radars. The demand is expected to remain consistent through the forecast period, enabling the market register Y-o-Y growth at little above 2% in 2023.

When it comes to commercial marine, maritime safety and efficiency are critical. As a result, the segment dominates in terms of application, and this position is expected to hold throughout the report’s prediction period. Furthermore, the rising military and naval applications will assist market participants in maintaining a solid foothold.

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Key Takeaways of Marine Radar Market Study

  • The global marine radar market is projected to expand at a CAGR of ~2.4% by during the forecast period of 2021-2031
  • The U.S. will remain a key pocket for sales, accounting for over 90% of the North America Market based on value in 2021
  • Slump in growth is likely in the U.K. following the pandemic outbreak in 2020. FMI projects the market to record -0.5% Y-o-Y growth in 2021. However, recovery is on cards 2022 onwards
  • Germany will remain a bright spot for sales in Europe, while negative growth is likely in France as well
  • After sluggish return in 2020, sales in both Japan and South Korea market are likely to improve

The demand for Marine Radar is expected to grow at moderate rate owing to its increasing consumption in Merchant Marine application. Military Naval is the segment is expected to grow during the forecast period with fastest CAGR. Naval sector plays an important role in structuring command on the marine radar market. China and India are the major target locations for supply of Marine Radar for manufacturers.

Key Segments

Product Type

  • X Band Radars
  • S Band Radars

Application

  • Merchant Marine
  • Fishing Vessels
  • Yacht/Recreational
  • Military/Naval

Region

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

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Who is Winning?

The global marine radar market is equally integrated at global and regional levels. Some of the leading players included in the report are FURUNO ELECTRIC CO., LTD., Northrop Grumman Corporation, Lockheed Martin Corporation, Saab AB, Japan Radio Co. Ltd., BAE Systems, JRC (Alphatron Marine), and Garmin, Raytheon Company, Wärtsilä SAM Electronics Gmbh, Transas Marine International AB and others. To gain competitive advantage in the market, market participants are involved in acquisition activities expansion, merger, and expansion with regards to excessive market growth.

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Chilled Beam System Market to Experience Robust Growth, Anticipated CAGR of 5.5% by 2031

Future Market Insights (FMI) in its recent market analysis, projects the global chilled beam systems market to reach US$ 308.5 Million in 2021. With increasing adoption of chilled beams systems in healthcare facilities, corporate offices, and universities across various countries, the market is anticipated to grow at a steady pace, exhibiting a 5.5% CAGR.

Due to the COVID-19 outbreak, sales in the chilled beam systems market slowed in 2020. However, FMI forecasts a solid demand outlook, with year-over-year increase of 3.9% between 2020 and 2021, with sales expected to reach 175’000 units throughout the projection period.

In addition, smart cities, healthcare facilities, and residential and commercial space remodelling are expected to boost market expansion in emerging markets such as India, China, Mexico, and Brazil.

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As per FMI’s regional market survey, the U.S. is anticipated to dominate the North America chilled beam systems market. Being a relatively new ventilation concept, adoption of chilled beam systems is expected to grow at a steady pace. Apart from this, expansion of residential, corporate, and healthcare infrastructure will continue spurring demand for chilled beam systems in the U.S.

KEY TAKEAWAYS:

  • Based on product type, concealed chilled beam systems are projected to dominate the segment.
  • In terms of design, sales of standard chilled beam systems are anticipated to remain high through 2031.
  • Corporate offices will account for maximum applications of chilled beam systems in the forthcoming years.
  • The U.S. is anticipated to lead the chilled beam systems market due to growing demand for energy-efficient ventilation solutions in the country. FMI projects the North America chilled beam systems market to grow at a 5.6% CAGR.
  • The U.K. is expected to exhibit high demand for chilled beam systems, owing to rapid expansion in the hospitality and education sectors. The European chilled beam systems market is projected to expand at a 5.3% CAGR.
  • Being one of the key exporters and producers of chilled beam systems, Germany will emerge as a lucrative market during the forecast period.
  • Rapid development of smart cities and increasing adoption of modern cooling systems in India will place it as an attractive market through 2031.
  • South Korea and Japan will collectively account for 9% of the total market share.

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As per FMI’s market analysis, top 5 players operating in the chilled beam systems market comprise SAS International Limited, Lindab International AB, Halton Group, Trox GmbH, and Caverion Corporation, holding 58.5% of the total market share.

Prominent players operating in the chilled beam systems market are emphasizing strategic collaborations and partnerships to expand their global footprint. Apart from this, product portfolio expansion and robust aftersales services will remain key growth strategies among leading players. For instance:

  • In August 2021, Johnson Controls, a global leader in smart and sustainable building solutions, announced a strategic collaboration with Apollo Global Management, a leading global asset manager, to provide sustainable and energy-efficient solutions various sectors to address decarbonization and high operational costs in buildings.
  • In July 2021, Caverion Corporation acquired GTS Immobilien GmBH, a leading building automation service provider in Austria. Through this acquisition, Caverion is aiming to strengthen its market position in smart technologies and building automation solutions for diverse end-uses.

More Insights into the Chilled Beam Systems Market Report

In its latest report, FMI offers an unbiased analysis of the global chilled beam systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (concealed, exposed, and recessed), design type (standard and customized), end-user type (educational institutions, healthcare facilities, hotels/restaurants, and other institutions including military, residential and industrial), and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

Key Companies Profiled

  • Swegon AB
  • Barcol Air Group AG
  • MADEL Air Technical Diffusion S.E.
  • Dadanco Europe
  • TROX GmbH
  • Emco Bau- und Klimatechnik GmbH & Co. KG
  • LTG Aktiengesellschaft
  • Roccheggiani S.p.A
  • FTF Group
  • Johnson Controls International Plc
  • Lindab International AB
  • Caverion Corporation
  • Halton Group
  • Mestek, Inc.
  • FlaktGroup
  • Price Industries Inc.
  • NuClimate Air Quality Systems, Inc.
  • SAS International
  • Nijburg Industry Group.

Chilled Beam System Market by Category

By Product Type: 

  • Concealed
    • Active
    • Passive
    • Multiservice
  • Exposed
    • Active
    • Passive
    • Multiservice
  • Recessed
    • Active
    • Passive
    • Multiservice

By Design Type:

  • Standard
  • Customized

By End-User Type:

  • Educational Institutions
  • Healthcare Facilities
  • Corporate Offices
  • Hotels/Restaurants
  • Other Institutions (Military, Residential, Industrial, etc.)

By Region:

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

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Odour Control System Market on the Rise, Projected to Reach US$ 1.57 Bn with a 4.7% CAGR by 2029

The global Odour Control System Market is estimated to be worth around US$ 1.19 Billion in 2022. With rising adoption of odour control system for improving the air quality levels across diverse industries, the overall sales are anticipated to rise at a moderate CAGR of 4.7% between 2022 and 2029, totalling US$ 1.57 Billion by 2029.

The most recent market research study on odour control system by Future Market Insights includes a global industry analysis for 2014 to 2021 as well as a market prognosis for 2022 to 2029. The report investigates the Odour Control System Market and provides predictions for the years 2022 to 2029.

According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.

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The odour control system market is estimated to be valued at ~ US$ 1 Billion in 2022, and is projected to increase by ~ 4.7% CAGR during the forecast period of 2022 to 2029.

The odour control system market has a high potential to grow in regions such as Asia Pacific Excluding Japan (APEJ) and North America. Significant innovations with incorporation of advanced technologies meeting regulations are expected to emerge as a product differentiator in the odour control system market.

Installation of hybrid odor control systems and demand for advanced and cost-effective odour control system from various industrial and government entities have increased significantly. This growing demand for progressive products generates pressure on manufacturers to deliver technologically-advanced and unique product offerings.

Thus, technological advancements have led to noteworthy investment in research and development by manufacturers. Manufacturers in the odour control system market are constantly focusing on developing unique technologies, which help them differentiate their products and earn a competitive edge.

Odour control systems play a crucial role in wastewater and solid waste treatment facilities. Individual odour control systems can be installed at various locations in a single wastewater treatment facilities, or a centralize system could be installed for low capacity plants.

Increasing investment for the effective and efficient waste management, establishment of new plants and capacity increase of existing facilities, and also growing intolerance towards odours, are factors expected to increase the demand for odour control systems in near future.

Japan to Provide Noteworthy Growth Opportunities for Manufacturers

The ongoing technological advancements and progression in investment for the storm water management projects and wastewater treatment facilities are expected to grow significantly over the forecast period. Odour control system manufacturers are focusing more on improving their market structures and offerings in the region.

Emphasis on trade balance and increasing production by strengthening the manufacturing sector is currently the prime motive of the government in Japan. Also, the adoption of ‘best available technique’ is prominent in the country, which is likely to propel the demand for advanced odour control system.

Japan has large installed base of odour control systems which are likely to get regular up gradation and replacements. Considering the average life of the odour control systems and the install base, the market in Japan is estimated to surge in next few years.

For the global odour control system manufacturers, Japan is projected to be a prominent market throughout the forecast period, owing to the increasing consumption and production of odour control systems across several industries.

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Odour Control System Market by Category

System:

  • Physical Odour Control
    • Adsorption System
    • Ozone Generators
  • Chemical Odor Control
    • Chemical Scrubbers
    • Thermal Oxidizers
  • Biological Odour Control
    • Biofilters/Biotrickling Filters
    • Bio Scrubbers

Application:

  • Waste Treatment Facilities
  • Food & Beverages
  • Pulp & Paper
  • Chemical & Petrochemical
  • Other Industries

Region:

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

About Future Market Insights, Inc.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Healthcare Contact Center Solution Market Worth US$ 40,877 Million by 2032 at a CAGR of 18.1%

Healthcare contact center solutions are anticipated to reach US$ 40,877 million in 2032, growing at a CAGR of 19.7% from US$ 6,762 million in 2022. From 2017 to 2021, the market for healthcare contact center solutions grew at a CAGR of 18.1%.

Hospitals can benefit from a variety of benefits from healthcare contact center solutions, such as balanced patient care, proactive web interaction, and improved payment and collection processes to improve the patient experience. Healthcare contact center solutions are becoming more and more necessary as hospitals look for innovative ways to connect with their current and potential patients. Additionally, hospitals can increase the effectiveness of their operational procedures by implementing cutting-edge contact center technology.

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Healthcare Contact Center Solutions Market: Drivers and Restraints 

The rising adoption of cloud-based solutions and services in contact centers is turning into the major factor driving the healthcare contact center solution market. Moreover, the market has experienced significant growth owing to increasing areas of application in hospitals, which is becoming a necessity to shift their IT infrastructure to the cloud in the future. Moreover, cost reduction is also one of the major factors positively driving the market. 

Compliance and regulatory issues are the major challenges faced by most of the vendors in the healthcare contact center solutions market. 

Global Healthcare Contact Center Solutions Market: Regional Outlook 

Based on geography, the Healthcare Contact Center Solutions market can be segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and the Middle East & Africa. Among various regions, the Healthcare Contact Center Solutions market in North America is expected to dominate during the forecast period owing to the deployment of cloud-based contact center solutions by small and large enterprises in the healthcare industry. North American region is expected to be followed by Western Europe, Japan, and APAC. 

Key Players

  • Genesys
  • Aspect Software
  • Invensys
  • DATAMARK Incorporated
  • Aspect
  • Ozonetel
  • Virtusa Corporation.

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Healthcare Contact Center Solution Market: Market Segmentation

Healthcare Contact Center Solution Market by Deployment:

  • On-premises Healthcare Contact Center Solutions
  • Cloud-based Healthcare Contact Center Solutions

Healthcare Contact Center Solution Market by Application:

  • Healthcare Contact Center Solutions for Workforce Optimization
  • Healthcare Contact Center Solutions for Customer Relationship Management
  • Healthcare Contact Center Solutions for Interactive Voice Response
  • Healthcare Contact Center Solutions for Other Applications

Healthcare Contact Center Solution Market by Service:

  • Professional Healthcare Contact Center Solutions
  • Managed Healthcare Contact Center Solutions

Healthcare Contact Center Solution Market by Enterprise Type:

  • Healthcare Contact Center Solutions for SMBs
  • Healthcare Contact Center Solutions for Large Enterprises

Healthcare Contact Center Solution Market by Region:

  • North America Healthcare Contact Center Solution Market
  • Latin America Healthcare Contact Center Solution Market
  • Europe Healthcare Contact Center Solution Market
  • Asia Pacific Healthcare Contact Center Solution Market
  • Middle East & Africa Healthcare Contact Center Solution Market

Table of Content
1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce, and is headquartered in Delaware, USA. A recipient of the Clutch Leaders Award 2022 on account of a high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Carbon Mold Market to receive overwhelming hike US$ 501.4 Million in Revenues by 2029: Exclusive Report by FMI

The global carbon mold market size reaching a value of about US$ 279.9 Million by 2022 end and is anticipated to grow with 8.6% CAGR throughout the forecast period, 2022-2029. A recent market study revealed by Future Market Insights on the carbon mold market incorporates global industry analysis for 2014-2021 and market opportunity assessment for the forecast period of 2022-2029. The market study reveals crucial insights and provides an in-depth market analysis for the historical as well as forecast period. As per the market assessment in the report, the global carbon mold market is estimated to witness noteworthy growth due to growing demand from aircraft and automotive manufacturing sectors.

As per the most recent Future Market Insights analysis on the global carbon mould market. Following East Asia and Europe as the top consumers of carbon moulds is North America. Because there are so many end-use industries in the area, there is a high need for carbon moulds. In emerging economies, demand is anticipated to expand rapidly between 2022 and 2029, according to the forthcoming assessment period.

Increasing government regulations are pressurizing OEMs to manufacture lightweight vehicles and aircrafts, leading to incorporation of lightweight materials such as carbon composites. According to FMI’s analysis, increasing demand for carbon composites from the automotive and aerospace industries along with rising adoption of carbon fiber parts and components in electric vehicles are expected to positively influence the carbon mold market.

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Growing environmental concerns have shifted the trend towards the adoption of renewable energy. Wind energy has revolutionized the renewable energy sector, owing to increasing government support. Carbon molds are used in the manufacturing of lightweight wind turbine blades from carbon fiber and carbon composites. Increasing installations of wind turbines and growing wind energy installation projects across the globe are estimated to propel the demand for carbon molds.

Opportunities Abound in East Asia and South Asia

East Asia and South Asia, led by China and India respectively, are likely to witness substantial growth in commercial as well as defense aerospace sectors. Increasing military budget will primarily affect the defense aircraft manufacturing activities in the region, and it is likely to lead to upsurge in the demand for carbon mold. Installation of wind turbines has increased significantly in recent years, especially in China, India, and ASEAN countries, which will continue to work to the advantage of the carbon mold manufacturers.

Increasing government regulations for the development of fuel-efficient vehicles and aircrafts in North America and Europe, have increased the demand for carbon composites. Predominance of automotive and aerospace industries and increasing adoption of carbon composites make North America and Europe prominent markets for carbon molds.

Carbon Fiber to Remain a Prominent Material Choice

The global carbon mold market has been categorized on the basis of material, different types of mold, and application, along with regions.

  • Based on material, carbon fiber is projected to remain the material of choice in the upcoming years, and subsequently hold a prominent share in the global carbon mold market throughout the forecast period.
  • On the basis of mold, the female mold is estimated to hold more than half of the market share owing to its cost effectiveness.
  • High application potential of carbon mold has been identified in aerospace & defense, followed by automotive & transportation. Increasing incorporation of carbon composites in automotive & aerospace industries is a prime factor responsible for the carbon mold market growth.

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Carbon Mold Market: Manufacturer Insights

According to the FMI analysis, the global carbon mold market is heavily fragmented with local and regional players playing key roles. The global carbon mold market report sheds light on few of the key industry players in the global carbon mold market. Some of the examples of key players in the market are MDC Mould & Plastic Co., Ltd., DEXCRAFT, Xiamen Fengjin Mold Industry Co., Ltd., Composite Mouldings Ltd., and DC Composites, among others.

Key Segments

Material Type

  • Carbon Fiber
  • Graphite
  • Others

Mold Type

  • Male
  • Female

Application

  • Aerospace & Defense
  • Automotive & Transportation
  • Electronics
  • Energy
  • Others

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa
  • Emerging Countries

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Butyl Glycol Market Size Predictions : US$ 4.14 Billion by 2029

The global butyl glycol market is anticipated to reach a valuation of US$ 4.14 Billion by 2029, with sales growing at a stagnant CAGR of 3.6% from 2022 to 2029. By the end of 2022, the target market is set to reach an estimated US$ 3.23 Billion. The increasing application of butyl glycol as a coupling agent and solvent in household cleaning and industrial sectors will fuel the growth of the butyl glycol market during the forecast period.

A colorless liquid organic compound, butyl glycol has properties like lower volatility, sweet-ether odor, and high acidity. These aspects are gaining tremendous popularity as solvents in multiple industry verticals including chemical processing, industrial cleaner, and printing inks sectors among others.

With escalating demand for water and solvent-based paints, the demand for butyl glycol is also increasing. Thus, butyl glycol is experiencing demand from an assortment of end-use industries such as the construction, chemical, and industrial sectors. Again, the expansion of industries like metal working industry, paints & coatings industries, and printing sectors also benefit from the use of butyl glycol. This is expected to have a positive impact on the target market.

Moreover, butyl glycol is observing extensive usage in the paint & coatings industry as a coalescing agent, coupling agent, and solvent. This is because of its favorable characteristics like low volatility, high miscibility, and others. It also finds application in manufacturing paints for improving the brushablity of alkyd resin paints and extending drying time. Similarly, growing demand for architectural paint from residential housing and commercial projects as well as municipal infrastructure such as roads, sewage plants, rails, and others is augmenting the global sales of butyl glycol during the forecast period.

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“Extensive application of butyl glycol as a solvent, a coupling agent, and others will likely boost the global growth of the butyl glycol market over the forecast period,” says an FMI analyst.  

Key Takeaways:

  • Harmful side effects and strict regulations may stymie the market growth.
  • In 2022, the butyl glycol market in North America accounts for 27.9% of the overall sales.
  • The advancing oil and gas industry drives the target market in the United States.
  •  Growing construction activities will propel butyl glycol market growth in China.
  • East Asia’s butyl glycol market holds 30.3% share of the global revenue.
  • By function, the solvent segment will record a strong CAGR during the forecast period.
  • On the basis of application, the paints and coatings segment will lead the market.

Competitive Landscape 

Sadara Chemical Company, Anshika Polysurf Ltd., Nippon Nyukazai Co. Ltd., Lotte Chemical Corporation, Sasol Ltd., Lyondell Basell Industries N.V., Eastman Chemical Corporation, Asia Pacific Petrochemicals Co Ltd, Dow Chemical Company, BASF SE, and KH Chemical among others are some of the major players in the butyl glycol market profiled in the full version of the report.

Key market participants are keen on increasing their production capacity to cater to growing consumer demands. These enterprises employ strategic acquisitions, mergers, collaborations, and partnerships to strengthen their market position.

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Butyl Glycol Market by Category

By Function:

  • Solvent
  • Coalescing Aid
  • Chemical Intermediate
  • Plasticizer

By Application:

  • Paints and Coatings
  • Printing Inks
  • Metal Working Fluid
  • Polymer & Plastics
  • Others

By Region:

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

More Insights into Butyl Glycol Market Report

In its latest report, FMI offers an unbiased analysis of the global butyl glycol market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2029. To understand the global market potential, growth, and scope, the market is segmented on the basis of function (solvent, coalescing aid, chemical intermediate, plasticizer), application (paints and coatings, printing inks, metal working fluid, polymer & plastics, others), and region.

According to the latest FMI reports, based on segmentation, the solvent function segment will make significant contribution to the overall market growth during 2022-2029. Owing to butyl glycol usage as a solvent across multiple industry verticals, this segment is expected to register a strong CAGR. In terms of application, the paints and coatings segment will lead the market growth during the forecast period.

Based on region, the butyl glycol market in China will present substantial growth during 2022-2029. Owing to a surge in construction projects, the target market in China is undergoing impressive growth while pushing East Asia’s butyl glycol market to account for 30.3% of the overall revenue in 2022. Increasing building and infrastructure activities and extensive application in paints and coatings sector further aids the target market growth in this region during the projected period.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Two-Wheeler Lubricants Market Anticipated to Rise to US$ 24,723.7 million in 2033

The two-wheeler lubricants market size is expected to increase from US$ 17,697.3 million in 2023 to US$ 24,723.7 million in 2033.

Synthetic oil is the Favored Choice

To manufacture all types of lubricants, crude oil, tight oil, and other additives are required. Lubricants contain a variety of additives that improve their functionality and characteristics. Among these additives are antioxidants, extreme pressure additives, rust and corrosion inhibitors, detergents, viscosity index improvers, anti-wear agents, and dispersants.

Lubricants are made up of 90% base oil and 10% additives, with base oils containing petrochemical fractions such as fluorocarbons, esters, polyolefins, and silicones. Base oils enhance lubricant viscosity and prevent wear and tear. The two most common base oils used in lubricant formulations are paraffinic and naphthenic.

Lubricants are an important component of constantly expanding industries. They are used to reduce friction and wear and tear between two relatively moving elements of machinery. They might be petroleum-based or water-based and are required for proper machinery operation. Lubricants also reduce operational downtime, thereby increasing overall productivity.

While mineral oils remain popular, producers are focusing on boosting the production of synthetic and semi-synthetic oils. It is to meet the rising demand for premium synthetic two-wheeler lubricant products. Manufacturers are focusing on non-mineral oils considering the adoption of new engine technologies in current automobiles, as well as increased public knowledge of the performance benefits of synthetic lubricants.

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The shift toward premiumization of products for improved warranty and long oil drain intervals is projected to need a great use of synthetic components in two-wheeler lubricants engines. Furthermore, in order to meet the growing demand for green fuels and sustainable solutions, several market participants are focusing on the development of effective bio-based lubricants.

The use of two-wheeler lubricants in motorcycles, particularly mopeds and standard models, has been high than in scooters. Manufacturers are focused on product advancements and new advances. It is to give an optimal ride experience with the rise of next-generation motorcycles that permit efficient clutch operation and require multi-functional lubricants.

Key Points from the Two-Wheeler Lubricants Market

  • The market is predicted to expand at a 3.4% CAGR through 2033.
  • Rising pollution and traffic congestion are boosting the market.
  • The market is expected to surpass US$ $ 24,723.7 billion by 2033.
  • Asia Pacific is dominating the global two-wheeler lubricants market by 2033.

Key Development in the Two-Wheeler Lubricants Market

  • In January 2018, Castrol announced New Castrol Active, a two-wheeler engine oil type. The new product assists the corporation in expanding its product offering.
  • Cummins Inc. and Valvoline Inc. renewed their long-term technology and marketing partnership for the next five years in October 2021. Cummins sells and endorses Valvoline goods through its global distribution channels under this agreement.
  • July 2021 – Valvoline All-Terrain is a new engine oil specifically intended for off-highway, heavy-duty diesel engines operating in harsh situations. According to Valvoline, All-Terrain was developed with a concentration on wear protection in equipment operating in harsh environments such as mining, construction, and agriculture.
  • Total Energies and Stellantis renewed their collaboration for Peugeot, Citroen, and DS Automobiles for another five years in June 2021. This collaboration also prioritizes research and development efforts toward long-term growth and innovation.
  • March 2021 – Nissan Motor India announced an arrangement with ExxonMobil to supply passenger vehicle aftermarket lubricants. The company provides a diverse range of engine oils suited not just for BS6-compliant vehicles but also for BS3 and BS4 models.
  • In February 2021, Shell announced carbon-neutral lubricants for passenger cars, heavy-duty diesel engines, and industrial applications. Shell has a multi-year strategy to help clients manage their sustainability needs. By preventing, decreasing, and offsetting emissions, the corporation hopes to reduce the carbon intensity of its products.

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Two-Wheeler Lubricants Market Key Segmentation

By Product:

  • Synthetic Oils
  • Semi-Synthetic Oils
  • Mineral Oils
  • Bio-Based Lubricants
  • Greases

By Application:

  • Engine Oil
  • Suspension Oil
  • Break Oil
  • Chain Oil

By Two-Wheeler Type:

  • Motorcycle
    • Standard
    • Cruiser
    • Sports
    • Mopeds
  • Scooter
    • Standard
    • Maxi
    • Enclosed
    • Three-Wheeled

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa

About FMI

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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With CAGR of 8.4%, Industrial Oxygen Market to Reach of US$ 158.02 Billion by 2033

The global industrial oxygen market is projected to grow from its 2023 valuation of US$ 70.54 Bn to its projected 2033 worth of US$ 158.02 Bn.

In terms of volume, oxygen is one of the world’s most in-demand gases. Oxygen and its compounds are used in a wide range of sectors, from steel manufacturing and metal cutting to petrochemical processing, water purification, oxyfuel combustion, pulp, and paper production, and many more.

Massive infrastructure investments in Asia-Pacific and North America are fueling a rise in steel industry applications. Increasing oxygen usage in industries like refining, petrochemicals, agrochemicals, polymers, pigments, oleochemicals, and gas-to-liquid projects is also predicted to boost the demand for industrial oxygen.

As a result of these drivers, it is predicted that the worldwide demand for industrial oxygen would increase at a growth rate of 8.4%over the next five years, with the United Kingdom, the United States, Germany, and Japan rising to prominence as major suppliers.

Industrial oxygen market growth can be attributed to its widespread usefulness. Sales of industrial oxygen in metalworking and the gasification of municipal trash have also contributed to this growth. Many firms in the steel industry in emerging countries have joined together with suppliers of industrial oxygen to guarantee a consistent supply.

To close the gap between oxygen production and consumption, many different application sectors have explored various strategies. As a result, the industrial oxygen market now looks brighter than ever.

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Demand for industrial oxygen might rise owing to technological improvements in oxygen production. Progress in the nuclear industry has also contributed to an increase in demand for industrial oxygen. The increasing adoption of industrial oxygen in semiconductor manufacturing has contributed to an expansion in demand for industrial oxygen in growing countries of the world.

Key Takeaways

  • Expansion of the welding and cutting industries is hampered by the high cost of producing oxygen and other fuel gases.
  • Demand for industrial oxygen is expected to grow steadily over the next few years due to several causes, including rising industrial oxygen requirements in the medical and healthcare sectors and in the metals and mining industries.
  • Industrial oxygen market growth is expected to be most rapid in Asia-Pacific.
  • The industrial oxygen market is projected to expand as a result of the rising popularity of oxygen-based beauty treatments.

Competitive Landscape

As of now, only a few companies control more than two-thirds of the global industrial oxygen industry. Industrial oxygen is currently supplied by industry leaders like Linde AG, Air Liquide, and Air Products & Chemicals Inc. These industrial oxygen market key players  have several organic and inorganic techniques to keep them at the top during evaluation time.

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A merger between the Linde Group and Praxair, Inc. Due to this, Linde has surpassed all other competitors and is now the industry leader in industrial gases around the globe. Air Liquide and Gulf Coast Growth Ventures entered into a long-term agreement in 2019 that calls for the construction of a new air separation unit capable of producing 2 metric tons of oxygen per day.

Key Segments

By Product Type:

  • Compressed Oxygen Gas
  • Liquefied Oxygen

By End Use:

  • Automotive & Aerospace
  • Chemical Processing
  • Energy

By Region:

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

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Polyurea Coatings Market to Achieve a High CAGR of 9.3% During Forecast Period – 2033

According to the Future Market Insights historical analysis, the global polyurea coatings market registered a healthy CAGR of 7.6%. Furthermore, in 2022, the value of the global market reached around US$ 823.9 million. The global polyurea coatings market is anticipated to create an absolute dollar opportunity over the forecast period from 2023 to 2033 by registering a robust CAGR of 9.3%. The global market is expected to register a valuation of US$ 902.9 million in 2023, culminating in a market valuation of US$ 2,204.6 million in 2033.

Polyurea is known as a synthetic polymer, commonly derived from the reaction between a diamine and a di-isocyanate. The usage of polyurea-based coatings is common across a variety of industries such as automotive & transportation, and building & construction. Over the upcoming years, sales of hybrid polyurea products should dominate the market. This is due to the fact that hybrid polyurea offers several advantages over pure variants including effective adhesion to metallic and concentrate surfaces. Abrasion resistance and affordability. Moreover, pure polyurea sales are likely to continue for applications where temperature and moisture resistance are necessary.

Developing economies are anticipated to have a significant contribution to market expansion. Across these economies, there is a propelling need for protecting equipment, machine parts, and infrastructural investments. Car parking lots, offshore structures, bridges, rooftop coatings, and containment liners are examples of applications where polyurea coatings play important roles. Over recent years, industrial activities are on the rise, resulting in the surge of the global economy. This should work in favor of polyurea coatings companies and provide lucrative opportunities in the future.

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Report Highlights

The surging population and increasing building and construction activities combined together with strong industrial expansion are anticipated to drive significant growth in the market. Furthermore, crucial developing countries have showcased excellent economic development potential, owing predominantly to increased urbanization and strong demand from the automobile and food and beverage industries. During the next decade, the leading end-use sectors will account for more than 70% of absolute growth.

According to a regional perspective, the East Asian region is anticipated to account for a significant share throughout the evaluation period from 2023 to 2033. Over recent years, environmental regulations have become more stringent in regions such as North America and Europe. Also, countries such as China are adopting such regulations pertaining to VOC emissions, owing to which, there is rising demand for eco-friendly polyuria coatings.

The application of polyurea coatings on damp surfaces is likely to result in poor surface adherence. As a result, the surface requires appropriate drying time before applying a polyurea coating. In addition to that, the cost of applying polyurea coatings is significantly greater due to the expense of spraying equipment. Handling such machinery necessitates the use of professional laborers and technicians. The challenges listed above may impede the acceleration of the market for polyurea coatings.

Recent Developments

Widespread environmental consciousness has resulted in a revolution across the coating industry. Water-borne, high-solid, and powder coatings are gaining popularity in a variety of sectors. Coating technology advancements have also resulted in the creation of spray, injection, and roto-cast application equipment that enhances the performance of polyurea coatings.

Polyurea coatings have emerged as a successful and cost-effective solution for a variety of applications in a wide range of end-use industries, while also meeting environmental requirements. Polyurea coatings are extremely reactive and cure fast.

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Competitive Landscape

The global market for polyurea coatings is expected to be fiercely competitive throughout the assessment period, owing to the presence of regional and international players. In the recent past, players have been firmly focused on launching new products. Prominent acquisitions have also facilitated the expansion of prominent names.

In April 2019, SPI, a manufacturer of polyurethane foams and polyurea customers based in the United States Washington, announced that it had merged with VersaFlex.

Key Companies Profiled

  • BASF SE
  • Huntsman Corporation
  • Teknos Groups
  • DuPont de Nemours, Inc.
  • Versaflex Incorporated
  • Sherwin Williams Company
  • Pidilite Industries Ltd.
  • Covestro AG
  • PPG Industry Inc.
  • Rhino Linings Corporation

Polyurea Coatings Market by Category

By Type:

  • Pure Polyurea
  • Hybrid Polyurea

By Isocynate Type:

  • Aromatic
  • Aliphatic

By Application:

  • Building & Construction
    • Roofs
    • Walls
    • Floors
    • Bridges
  • Industrial
    • Pipes
    • Tanks & Containment
    • Equipment & Machinery
  • Automotive & Transportation

By Region:

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

More Insights into the Polyurea Coatings Market

As per the forecasts predicted by Future Market Insights, the North American and European regions are emerging as significant markets where polyurea coatings sales are likely to thrive. This forecast is owing to rising demand for eco-friendly and sophisticated coatings as a result of rigorous VOC emission laws.

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

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
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