Market Research Blog

The South America tourism market, whose valuation stands at US$ 320 billion as on 2022, is projected to grow at a CAGR of 4%, and the valuation is expected to go up to US$ 473.68 billion in 2032.

Architectural masterpieces along with cultural diversity and many more factors are expected to increase the demand for South America tourism.

Tourism is one of those sectors which contributes to the GDP of not only a nation, but an entire continent. There are countries across the world which are solely dependent on tourism for their economic growth. So, indeed tourism is necessary not only for the tourists but nations as well.

South America is one of the most underrated tourist destinations. It is the land of mesmerising nights and festivals. It is specifically known for its beautiful mountains, exotic landscape, lively beaches, glorious wildlife, waterfalls and plenty of other things.

South America is composed of 12 independent nations, and other dependent nations. Spanish is the most widely spoken language in South America, which is followed by Portuguese. English is the third most spoken language.

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Generally, the climate in South America remains hot and humid. The climate tends to be highly volatile going further South.

What are the Current Market Dynamics pertaining to South America Tourism Market?

From rainforests to archaeological sites, South America has it all to offer for all kinds of tourists. However, choosing just one vacation spot becomes a challenging task when the continent has so much to offer.

Argentina is believed to be one of the most attractive tourist destinations in South America. The country has a lot to offer, be it desert, jungles, or beaches. This is the country which keeps the tourists hooked.

Iguazu falls is located in the border of Brazil and Argentina. These are a part of UNESCO world heritage sites, and are one of the most majestic sites in the entire South American region. Visitors have the luxury of going closer to the Iguazu falls through the walkways.

Buenos Aires, which is the capital of Argentina, is one of the most lively and beautiful cities. One should make it a point to visit La Boca, where the Caminito Street Museum is located, which is meant for its brightly painted houses, cafes, and the brilliant tango dancers

Recoleta Cemetery is another must visit place in Beunos Aires, which is a mausoleum containing the remains of certain famous Argentinians, along with gardens, museums, and café.

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For all those who want to venture into hiking, Tierra del Fuego national park is a must visit place. Apart from hiking, the park has plenty to offer ranging from waterfalls, dense forests, mountains, and elegant glacier fed lakes.

Puerto Madryn is another place in Argentina, which is famous for being a cruise destination. It is mainly meant for its rugged coast line, which is quite popular amongst the water sports enthusiasts.

What is the Regional Outlook for the South America Tourism Market?

The South America tourism market size is expected to expand in the coming days. The countries that have been analysed are: Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela.

Argentina is the most visited country in South America. Argentina is followed by Brazil. Chile is the third most visited country in South America.

Who are Some of the Key Players in the South America Tourism Market?

Some of the key players in the South America tourism market are: Pentravel, CVC Travel, Thompsons, Suretravel, VIAJANET, Hostelworld Group, Harveyworld, IGO Travel, Computravel, LuxuryAfrica, and Despegar.

After, more than two years, the focus for South America tourism market remains to increase the footfall of the tourists, and to revive the tourism sector to its glory, as the past two years have been relatively dry for the region.

South America’s Latam airlines is working harder to emerge from restructuring during the second half of 2022.

• Despegar completes acquisition of VIAJANET in June 2022.
• Hostelworld group launches ‘The Solo System’, a set of social features enabling opt-in travellers to connect and meet in real life.

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Key Segments Profiled in the South America Tourism Market Survey

By Booking Channel:

• Phone booking
• Online booking
• In person booking

By Consumer Orientation:

• Men
• Women
• Children

By Age group:

• 15-25 years
• 26-35 years
• 36-45 years
• 46-55 years
• 56-65 years
• 66-75 years

By Tour type:

• Independent traveller
• Tour Group
• Package Traveller

By Tourist Type:

• Domestic
• International

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The global music tourism market to be appraised at US$ 11.3 Bn by 2032, up from US$ 5.5 Bn in 2022, advancing at a CAGR of 7% during the forecast period. The need for traveling with a purpose has risen the music tourism market share. Social media and constant uploading aids in creating hype which increases the demand for music tourism.

Jazz, EDM, Techno, Pop, and Rock, etc. are all genres offered by The Netherlands to attract crowds by organizing music fests. The adoption of music tourism encourages the meeting of new people and amalgamation of cultures. The music tourism industry adapts to developing global trends and lifestyles.

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What are the Key Factors that Drive the Music Tourism Market?

• Social media influencers and bloggers prefer travelling for leisure, entertainment and content, increasing the demand for music tourism.
• The love of music for musicians and music enthusiasts advents innovation thus expanding the music tourism market share.
• Improved loving standards and per capita income growth have influenced the adoption of music tourism.
• Consumers who are travellers increase the demand for music tourism as the thrill of crossing international borders is desirable.
• The scheduled performances of international and national musicians in different regions across the globe, expands the global music tourism market size.
• The growth of travel and tourism industry is consecutively contributing to the growth of the music tourism market share.
• Giveaways, competitions, lucky-draws, etc. pique the interest of consumers for music tours.
• The adoption of music tourism stems from the increasing number of national and international music events.

What are the factors that Hinder the Music Tourism Market?

• Events taking place overseas might hinder the growth of the music tourism market size on account of consumers reluctant to travel.
• Baby boomers unwilling to disburse from their budget bracket can curb the demand for music tourism.
• Restrictions on travelling and the social distance protocol during the pandemic obstructed the music tourism market share.
• Most events can be exorbitant to the general population, therefore hampering the global music tourism market size.

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What is the Scope of the Music Tourism Market?

• The demand for music tourism is expected to grow as travel products and facilities are better aligned with travelling and the events itself.
• Crowd handling arrangements should be supervised to improve capacity and thus, push the demand for music tourism.
• Representing best new artists unprecedentedly live on a platform can promote growth of music tourism market size.
• Consumers being offered a variety of services by international and domestic companies in roadways, airways and the seaways sectors increases adoption of music tourism.
• The adoption of music tourism in cities that have not received recognition and glamour from the media can increase the market growth.
• International and national celebrities collaborating with clubs and hotels can boost the growth of the music tourism market share.

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What are the Regional Insights of the Music Tourism Market?

North America is the leading region for music tourism.

World renowned music festivals like Coachella, Lollapalooza, etc. have expanded the market size, by introducing new artists.

The average music tourist spends a minimum of $300 on travel and accommodation in the US.

Europe is second in leading the market for music tourism.

Belgium, Italy, Portugal and The Netherlands are the most sought-after countries for music industries to organize festivals.

The Asia-Pacific is growing in the music tourism market with South Korea, India, Hong-Kong, Singapore, Malaysia, etc. sporadically houses music tours.

What is the Competitive Landscape of the Music Tourism Market?

Some of the key players of the music tourism market size are AEG Worldwide, LiveStyle, Live Nation Entertainment, Global Spectrum L.P, Venu Works Inc., ID&T Belgium, SFX Entertainment, Percept Ltd., Only Munch Louder, TAG Group, ACFEA Tour Consultants, etc.

Some of the recent developments in music tourism are:

• About 1.9 million tourists were drawn to be Ibiza and the neighbouring island of Formentera, which was more than half of the pre-pandemic numbers.
• In 2013, the Glastonbury Festival witnessed less on-site spending than that of off-site spending, having an overall £93 Mn economic impact on the event.
• For a post-pandemic world, San Francisco based “Flymachine” raised US$ 21 Mn to build a virtual concert platform.

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The hong kong tourism market is expected to stands at US$ 16 billion as on 2022, is projected to grow at a CAGR of 10%, and the valuation is expected to go up to US$ 41.50 billion in 2032.

The tourism industry is a major contributor to the economy of Hong Kong. Since 2014, growth of tourists from China has decreased, due to which the Hong Kong tourism industry is facing a slowdown.

Also, competition is increasing from destinations such as Europe and Japan, which are frequented by Chinese tourists. However, the government in Hong Kong is taking measures to develop more tourist attractions, thus making Hong Kong one of the most popular tourist destinations.

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Hong Kong Tourism: Drivers and Restraints

Tourists from China constituted the largest group of visitors to the Hong Kong Special Administrative region. This is both a driver and a restraint to the Hong Kong tourism market. Chinese visitors come to the Hong Kong region in order to enjoy the duty free shopping and travel in a world class infrastructure and having not to face the language or other cultural shocks that they may face while travelling in a western country.

However, visitors from China to Hong Kong have been declining since a couple of years due to the recent unrest in the Hong Kong Special Administrative Region for self-rule and tensions with the Chinese population. This unrest has taken its toll on the tourist numbers from the China region.

However, the reputation of Hong Kong as an international financial centre and a preferred destination for regional conferences and conventions has the potential to rebound the negative fall back of the declining tourists from the China region.

Hong Kong Tourism: Spend Analysis

As per the figures released by the World Travel and Tourism Council, in the year 2014, the direct contribution of travel and tourism to the GDP of Hong Kong stood at HKD 204.6 Bn that comprised 9.1% of the total GDP of the region, and this is likely to show an increase by 3.5% per annum during the 10-year period of 2015-2025 and reach a figure of HKD 293.2 Bn – and this will comprise 9.5% of the total GDP of Hong Kong in the year 2025.

As per the same source, in the year 2014, visitor exports generated an amount of HKD 366.6 Bn that comprised 7.5% of the total exports of Hong Kong. Visitor exports are forecasted to increase by 3.6% per annum during the 10-year period of 2015-2025 and reach a figure of HKD 527.8 Bn in the year 2025 and this will comprise 6.6% of the total exports of Hong Kong.

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As per the figures released by the Tourism Commission – The Government of Hong Kong Special Administrative Region in the year 2015, a total number of 59.3 million international tourists were received by Hong Kong that represented a decline of 2.5% over the figures of the year 2014.

In the year 2015, China continued to be the source of the largest foreign tourist market, with over 40 million arrivals that accounted for over 75% of the total foreign tourists’ arrival. This represented a decline of 3% over the corresponding figures of the year 2014.

The overnight visitor per capita spending in the year 2015 amounted to HKD 7234, which represented a decline of 9.1% from the corresponding visitor per capita spending in the year 2014. Average length of stay of overnight visitors was 3.3 nights in the year 2015, which remained the same for the year 2014 as well.

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Key Segments Profiled in the Hong Kong Tourism Market Survey

By Booking Channel:

• Phone booking
• Online booking
• In person booking

By Consumer Orientation:

• Men
• Women
• Children

By Age group:

• 15-25 years
• 26-35 years
• 36-45 years
• 46-55 years
• 56-65 years
• 66-75 years

By Tour type:

• Independent traveller
• Tour Group
• Package Traveller

By Tourist Type:

• Domestic
• International

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 Clutch Leaders Award 2022 on account of 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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Suite 401, Newark, Delaware – 19713, USA
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The global singapore tourism market is projected to garner a revenue of US$ 27 billion in 2022, surpassing US$ 39.9 billion by 2032, advancing at a CAGR of 4% during the forecast period (2022-2032).

In a country that has the world’s lowest crime rates, the tourism in Singapore is a major industry and contributor to the country’s economy.

According to the Travel and Tourism Competitiveness report 2015, Singapore’s international openness, business environment and travel and tourism policy bestowed it with the 11th rank out of 141 countries. Singapore is safe and environmentally friendly and also preserves natural and heritage conservation programs.

Singapore’s public transport system is one of the most convenient transport services across the globe. It has a well-known Mass Rapid Transit (MRT) transportation system that is extremely convenient for tourists. Fine dining, nature sight-seeing, cultural and historical landmarks, island resorts and several shopping belts are the main tourist attractions in Singapore.

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Singapore Tourism: Sector Forecast and Spend Analysis – Drivers and Restraints

The Singapore government’s initiative in branding the country’s story has deeper roots in its cultural and historical identity. Such brand stories are giving wider scope to appeal to the more demanding consumers. This factor is particularly creating promising growth in the tourism sector in Singapore.

Another notable effort by the Singapore government includes targeting the right tourists – working millennials who include young single tourists or couples who are employed, families with kids, senior citizens, and business travellers. This is creating robust development in the growth of Singapore tourism. Apart from governmental initiatives there are various other factors that are creating robust development in the country’s tourism sector.

Singapore is safe, clean and efficient. It is one of the safest cities because of its stringent laws. There are no religious or racial tensions. More importantly citizens of Singapore can communicate in English, and tourists therefore do not have to face any language barriers. All these factors are attracting a large number of tourists and as a result, tourism is growing at a very fast rate in Singapore. However, there are few things that are restricting tourists from visiting Singapore.

One of the main restraints is the cost factor. Singapore is very expensive. Compared to other Asian countries, hotels, shopping, taxis and eating is very expensive in Singapore. Tourists also feel that the beaches in Singapore are not happening as in Australia. These factors are hampering the growth of the Singapore tourism industry.

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Singapore Tourism: Spend Analysis

According to the World Travel and Tourism Council (WTTC), travel and tourism generated a total impact of $US 66 billion of Singapore’s GDP in 2014. The total impact of the travel and tourism sector on the GDP is greater than other sectors such as retail, banking, manufacturing, and automotive. Travel and tourism is a significant source of export revenue for Singapore.

According to the WTTC, money spent by foreign visitors to a country is a key component of the direct contribution of travel and tourism. In 2014, Singapore generated SGD 23.9 billion in visitor exports

Also, spending on leisure travelling generated 51.0% of the travel and tourism GDP in 2014 (SGD17.6bn). This particular spending is expected to rise by 2.4% pa to SGD 22.6 billion in 2025. Domestic travel spending generated 30.7% of direct Travel & Tourism GDP in 2014 and is expected to grow by 3.0% in 2015 to SGD 10.9 billion, and rise by 3.1% pa to SGD 14.8 billion in 2025.

 According to the Singapore Tourism Board, fashion and accessories remained the most popular shopping item in terms of amount spent and popularity. Cosmetics, food items, consumer technology, souvenir and gifts, genuine jewellery and watches and clocks are the other items being shopped for.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

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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 Clutch Leaders Award 2022 on account of 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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Quaternary ammonium compounds are also known as quats or QACs. They belong to the family of antimicrobial compounds that are considered potent in disinfectant activity and cationic actives, as quaternary ammonium compounds actively eliminate gram positive and gram negative bacteria. They are solids that are dissolved in liquid solutions that do not evaporate. Quaternary ammonium compounds are colourless & non-irritating deodorants as well as cationic disinfectants. They are disinfectants used alone or added to cleaning products and can be binded with or absorbed by fibres & materials.

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Quaternary Ammonium Compounds Market: Dynamics

Quaternary ammonium compounds market participants are expanding their presence in Europe to boost their market share. For instance, in 2017, Novo Nordisk Pharmatech signed an agreement with Azelis to start the distribution of quaternary ammonium compounds in Spain, Germany, Portugal, Ireland and U.K.

The Asia Pacific region is expected to witness significant growth in the demand for quaternary ammonium compounds during the forecast period, which can attributed to the rising disposable income of individuals in China, India, etc., which is leading to an increase in the sale of personal care products. The above-mentioned factors are fuelling the demand of quaternary ammonium compounds and thereby contributing to the growth of the global market.

Quaternary ammonium compounds acts as disinfectants, fabric softeners, surfactants, wood preservation and antistatic agents, among others. Thus, the various application of these compounds is expected to boost their global demand during the forecast period.

Quaternary ammonium compounds are used in personal care products, as conditioning agents during the production of cloth, skin and hair softeners and as disinfectants in food industry, among others. They are also used in toilet cleaners, shampoos, shaving creams, hand soaps, body washes and anti-cling dryer sheets, among others. Thus, quaternary ammonium compounds have numerous applications, which is boosting their demand across the globe.

However, multiple health risks are associated with quaternary ammonium compounds, such as fertility issues, birth defects, allergies, irritation, etc. In addition, the prices of raw materials are fluctuating. The above-mentioned factors are expected to act as obstacles in the growth of the global of quaternary ammonium compounds market during the forecast period.

Quaternary Ammonium Compounds Market: Regional Outlook

North America and Europe are expected to witness a surge in the demand for quaternary ammonium compounds during the forecast period, which can be attributed to the numerous applications of quaternary ammonium compounds in various fields such as oil & gas, agricultural chemicals, textiles & leather, etc.

Asia Pacific is expected to account for a significant share of the global quaternary ammonium compounds market during the forecast period owing to the growing number of end-use industries in which they are used, such as paints & coatings, food & beverages, agricultural chemicals, etc.

Latin America and Middle East & Africa (MEA) are expected to witness moderate or sluggish growth in the demand for quaternary ammonium compounds as compared to Asia Pacific and North America during the forecast period.

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Quaternary Ammonium Compounds Market: Key Participants

Some of the key participants in the global quaternary ammonium compounds market are:

• Air Products and Chemicals, Inc.
• DuPont
• Huntsman International LLC
• BASF SE
• Clariant AG
• Henkel AG & Co. KGaA
• Evonik Industries AG
• Croda International Plc
• KAO Corporation
• Merck KGaA
• Novo Nordisk Pharmatech A/S

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Ammonium Dichromate Market: Ammonium dichromate is a chemical compound, having chemical formulae- (NH4)2Cr2O7 and mainly utilized in the fire explosive compounds. When ammonium dichromate is heated, it burns with the appearance of the volcano due to its ignition property.

Mercaptopropionic Acid Market: Mercaptopropionic acid, CAS No. 107-96-0, a colorless organic compound that has high solubility in an organic solvent. In the past, Mercaptopropionic acid was used as an intermediate compound in the production of pharmaceutical fennel.

Diethyl Phthalate Market: Diethyl phthalate is a diethyl ester of phthalic acid and is a chemical compound belonging to the phthalate ester family. Diethyl phthalate is clear colorless liquid which is marginally denser than water.

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1,3-Butylene Glycol (Mol. Formula: C₄H₁₀O₂), also known as 1,3-Butanediol, is a colorless, viscous, and odorless organic compound. Industrially, 1,3-butylene glycol is produced through either the acetaldehyde condensation method or the fermentation method. 1,3-Butylene glycol has the reactivity of a diol, owing to which it is used in the production of plasticizers, unsaturated polyester resins and industrial dehydrating agents, among other products.

It can also be used as a moisturizer and softener in textile, tobacco, paper, and food industries. 1,3-Butylene glycol has good hygroscopicity, low toxicity and good water solubility, owing to which it is used as a humectant and emollient in personal care and cosmetic products. Generally, 1,3-butylene glycol is extensively used in the formulation of hair care, skin-care and facemask cosmetic products.

Thus, the growing demand for cosmetic and personal care products across the globe is the major driving factor for the growth of the 1,3-butylene glycol market.

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Further, 1,3-butylene glycol is a major raw material in the production of alkyd and polyester resins, owing to its excellent characteristics and high adoption in downstream applications. For instance, the 1,3-butylene glycol based derivative, monocarboxylic acid monoester, is an excellent plasticizer used in the production of PVC and other plastics. Thus, the growing production of PVC, coupled with the significant growth of polymer and plastic industries, is expected to in turn drive the demand for 1,3-butylene glycol over the forecast period. Further, 1,3-butylene glycol, owing to its antibacterial action, is also used as an antibacterial agent in dairy and meat products. It also finds application as a stabilizer in pharmaceuticals and as a solvent in the fragrance industry.

Regional Outlook:

In terms of production and consumption, the global 1,3-butylene glycol market is dominated by the Asia Pacific region, predominantly China and India. This can be mainly attributed to the increasing production and demand for personal care and cosmetic products in the region. Along with this, growing population, increasing per capita expenditure, rapid urbanization and changing lifestyle are some of the major factors positively influencing the demand for personal care products, which is subsequently leading to a rise in the demand for 1,3-butylene glycol.

Moreover, the significant growth of polymer and plastic and paint and coating industries in the Asia pacific region largely fuels the growth of 1,3-butylene glycol market in the region. The Asia Pacific 1,3-butylene glycol market is expected to register healthy growth over the forecast period. North America, followed by Europe, is also a major consumer of 1,3-butylene glycol, owing to the substantial increase in demand from cosmetic, personal care, paint & coating and polymer industries in the region.

With significant production capacities of cosmetics in Europe, especially in the U.K., Germany and France, the demand for 1,3-butylene glycol is expected to increase, owing to its application as an emollient and humectant in cosmetic products.

Stringent government regulations and the rising demand for bio-based chemicals in North America and Europe are the major factors providing impetus for the growth of the 1,3-butylene glycol market. Thus, Europe and North America 1,3-butylene glycol markets are expected to witness steady growth over the forecast period. On the other hand, Latin America and Middle East & Africa 1,3-butylene glycol markets are expected to register slow growth over the forecast period.

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Market Participants

The 1,3-butylene glycol market is a highly consolidated one with manufacturers adopting a forward integration strategy to cater to the increasing demand 1and expand their footprint in the global market. Some of the market participants identified across the value chain of the global 1,3-butylene glycol market include,

• Daicel Corporation
• Godavari Biorefineries Ltd.
• Shanghai Jinjin Industry Co., Ltd.
• Penta Manufacturing Company
• OXEA GmbH
• MMP Inc.
• Whyte Chemicals Limited
• Rita Corporation

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Segmentation:

On the basis of synthesis, the global 1,3-butylene glycol market has been segmented into,

• Natural
• Synthetic

On the basis of function, the global 1,3-butylene glycol market has been segmented into,

• Humectant
• Emollient
• Stabilizer
• intermediate
• Solvents

On the basis of end use, the global 1,3-butylene glycol market has been segmented into,

• Cosmetics
• Polymer
• Paint & coating
• Food
• Others

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Biobased Propylene Glycol Market: The global biobased propylene glycol market is projected to have an average-paced CAGR of 4.40% during the forecast period. The current valuation of the market is US$ 4.32 billion in 2022.

Oxo Chemicals Market: Oxo chemicals are intermediate and derivative chemical compounds which are characteristically used in chemical and manufacturing processes of paints, plasticizers, coatings, adhesives and lubricant additives.

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In fast growing economies and developing markets, the aerospace and marine industry is estimated to gain momentum in the coming years. Technological advancements in the materials used to manufacture turbine blades have increased their adoption.

Besides, they ensure a prolong life of the turbine blades and reduce the maintenance cost.  Different types of turbine blade material are available in market such as stainless steel, nickel alloy, titanium alloy, and composite material. Among these, nickel alloy can be used in temperatures of up to 1,700 degrees Celsius.

Failure in steam and gas turbines are often caused due to blade fatigue, and this can be cured by using high melting point materials. More recently, the demand for turbine blade material is significantly impelled, owing to a surge in the demand from turbine blade manufacturers.

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Turbine Blade Material Market: Market Dynamics

Drivers

Ever growing end use industries such as automotive, aerospace, industrial, marine, etc., both, in developed and developing economies, is anticipated to be a major factor responsible for the growth of the global turbine blade material market over the forecast period.

Moreover, the continuously declining cost of energy generation using renewable sources is also anticipated to give traction to the growth of turbine blades as well as turbine blade material in the coming decade.

That apart, governments are focused on using renewable energy and encouraging people to do the same. This is expected to further boost the demand for turbine blades and turbine blade material over the forecast period.

Restraints

Turbine blades require high capital investments as well as maintenance costs, which is anticipated to act as a restraining factor to the growth of the turbine blade material market over the forecast period. Moreover, the prices of turbine blade materials are highly volatile. This is also expected to act as a factor hampering the growth of the turbine blade material market in the coming future.

Trends

A major trend predicted five years down the line includes market players of turbine blade material focusing on strategic expansions to expand their presence across the globe. This is projected to act as a catalyst to maintain leadership. Moreover, the strong outlook of the global automotive, aerospace, marine, etc., industries across the globe creates considerable opportunities for turbine blade & turbine blade material manufacturers.

Turbine Blade Material Market: Regional Outlook

The global turbine blade material market is totally dependent on the growing demand for turbine blades from end use sectors across geographies. Over the forecast period, Asia Pacific is expected to be closely followed by North America. Both these markets are predicted to witness enormous growth in the turbine blade material market, owing to increasing government initiatives to use renewable energy in emerging economies such as the India, China, and the U.S. Western Europe is estimated to grow at a considerable CAGR during the forecast period, owing to the high demand for turbine blade material in the growing automotive sector in the region.

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Germany is expected to be the leading automotive and automobile market in Western Europe. Latin America is anticipated to witness the growth of the turbine blade material market over the forecast period. The Middle East & Africa is expected to grow at a substantial CAGR during the forecast period, owing to an increase in the demand for turbine blade material from turbine blade manufacturers in the region.

Turbine Blade Material Market: Market Participants

Examples of some of the key participants identified across the value chain of the global turbine blade material market include:

• Acerinox
• Aperam
• AK Steel
• Guangxi Chengde Group
• JLC Electromet Pvt. Ltd.
• KOBE STEEL, LTD.
• Mannesmann Stainless Tubes GmbH
• Nippon Steel and Sumitomo Metal
• POSCO
• Tata Steel Europe

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, application, material type, and end user.

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Turbine Blade Material Market: Segmentation

The global turbine blade material market can be segmented on the basis of material type, application, and end user.

On the basis of material type, the global turbine blade material market can be segmented as:

• Stainless Steel
• Nickel Alloy
• Titanium Alloy
• Composite Materials

On the basis of application, the global turbine blade material market can be segmented as:

• Gas Turbines
• Water Turbines
• Wind Turbines
• Steam Turbines

On the basis of end user, the global turbine blade material market can be segmented as:

• Automotive
• Industrial
• Marine
• Aerospace
• Others

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About Future Market Insights (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.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com