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As per the global market study on stacker cranes, the market is expected to grow at a CAGR of 7% over the forecast period, from an estimated USD 976 million in 2021 to US$ 2 billion in 2032. Asia-Pacific is expected to lead the stacker crane market growth due to the rise of end-use industries and the adoption of AS/RS to improve material handling and logistics.

With heavy presence of manufacturing industries, flourishing export business, and increasing adoption of automation, China is emerging as a dominant market for stacker cranes. FMI predicts the China stacker crane market to grow at a healthy CAGR during the forecast period between 2022 and 2032.

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Key Takeaways:

• Owing of rising usage in China and India, the Asia Pacific is expected to occupy the greatest share of the stacker crane market opportunities by 2027.
• The single-column segment will have the biggest stacker crane market share during the projected period. Due to its application in the fast-moving goods industry, the single-column category is likely to have a large market share over the forecast period.
• New product developments and expansions will provide profitable prospects for market players in the next five years.
• Emerging Trends in the stacker crane market predict rising demand for automated storage and retrieval solutions.
• The fastest-growing segment is projected to be automatic stacker cranes. The automatic stacker crane is a low-energy mechanism that stores and retrieves items in a single cycle.

Stackers improve accessibility in tight and compact spaces, can be easily moved from one position to another, are less expensive to operate, and are easy to maintain. Furthermore, in recent years, the demand for safe and effective material handling equipment in a variety of cross-industry verticals has increased stacker crane sales.

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These advantages are expected to expand the stacker crane market in the coming years. Furthermore, technological advancements and innovations in stackers provide market participants with profitable growth opportunities. The rising trend of forklift use, on the other hand, is expected to stifle market growth.

The initial cost of installing a stacker crane design is high. Precision is required for the installation of this system, which necessitates the use of experienced personnel. Furthermore, for businesses, the cost of maintaining and updating a large number of subsystems is frequently prohibitively expensive. Such large investments are difficult for small and medium-sized businesses to make. The initial cost of an automated storage and retrieval system includes stacker crane systems, storage units, and racks.

Key Segments

By Operation Type:

• Semi-automatic
• Automatic

By End-use Industry:

• Consumer Goods
• E-commerce/Retail and Wholesale
• Pharmaceutical
• Automotive
• Others

By Application:

• Autostart
• Early Baggage Storage (EBS)
• Sortation System
• Robotized Order Preparation

By Type:

• Single Column
• Double Column

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• 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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Germany is expected to be the leading producer of wear plates, contributing significantly to the expansion of Europe wear plate Market. Growth in the country is attributable to the expansion of chemical and medical industries along with consumer and service industries.

As machinery and automotive is the fastest-growing, demand for wear plates in these aforementioned industries is expected to increase exponentially. Germany is estimated to register growth at a staggering 8.1% CAGR over the forecast period.

It also saves money on maintenance because it outlasts all other steels. The use of wear-resistant steel plates reduces the weight of the equipment by 30-40%. As a result, the global wear plates market is expected to grow at a CAGR of 6.3% between 2021 and 2031.

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It also saves money on maintenance because it outlasts all other steels. The use of wear-resistant steel plates reduces the weight of the equipment by 30-40%. As a result, the global wear plates market is expected to grow at a CAGR of 6.3 percent between 2021 and 2031.

Future Market Insights used a multidisciplinary approach during the prediction era to shed light on the success and progress of the Wear Plates Market. The study provides a deep dive into the current growth dynamics and their major revenues for 2019, as well as key prospects for the forecast period.

Future Market Insights analysts used extensive rounds of critical and detailed secondary research to arrive at various Wear Plates Market forecasts and predictions, both on a national and international scale. They have incorporated numerous industry-wide unmistakable business merge estimations, figures, and market data into income assessments and projections in the Wear Plates Market.

According to Future Market Insights (FMI), the wear plates market is expected to grow rapidly in the near future, owing to the expansion of end-use industries and manufacturing applications.

Wear plate market demand is expected to rise due to growing applications in waste management, pulp and paper, chemicals, and other industries over the forecast period. As a result, increased research and development activities will propel the wear plate market forward.

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Key Players

Some of the key market participants in the global Wear Plates market, identified across the value chain include:

• SSAB
• JFE
• ThyssenKrupp
• Dillinger
• ArcelorMittal
• Essar Steel Algoma
• NSSMC
• Wuyang Steel
• Xinyu Iron & Steel
• NLMK Clabecq
• Baosteel Group
• Baohua Resistant Steel
• Bisalloy
• ANSTEEL
• TISCO
• Bisalloy Jigang

According to Future Market Insights (FMI), the wear plates market is likely to witness robust growth in the near future, on the back of expansion of end-use industries and applications in manufacturing.

Global Wear Plate Market by Category

By Material Type:

• Mild Steel
  • Hardox
  • Abrasion Resistant Grade
  • Flame Hardened Grade
• Austenitic Stainless Steel
  • Duplex
  • Niobium Carbide
• Alloys
  • Tungsten Carbide Coated Steel
  • Chromium Carbide Coated Steel
  • Boron Carbide Coated Steel
• Bronze
• Carbon Graphite

By Plate Thickness:

• 3 to 6 mm
• 6 to 10 mm
• 10 to 15 mm
• 15 to 20 mm
• 20 to 25 mm
• 25 to 50 mm
• 60 to 120 mm
• 120 to 150 mm

By End Use:

• Mining
• Power Generation
• Cement & Refractories
• Sugar
• Off-Road Construction & Earthmoving Equipment
• Waste Management
• Pulp & Paper
• Chemicals
• Steel & Aluminium Mills
• Others

By Region:

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

About Us:

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:
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According to new data from Future Market Insights (FMI), the glass reactor market is predicted to increase by 4.6 percent year over year (YoY) in 2021, with sales of 400 thousand units. In 2021, demand for single jacketed glass reactors will increase by 4.3 percent to 286 thousand units, while demand for double jacketed glass reactors will increase by 4.4 percent to 112 thousand units. By 2031, extensive applications in chemical and pharmaceutical processes will contribute to the market’s growth.

According to Future Market Insights, increased demand for glass reactors has resulted from the establishment of pilot plants to test and validate production processes before to commercialization. Due to the Covid-19 epidemic, the glass reactors market saw a modest drop in sales volume in FY2020.

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

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

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

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

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

Key Takeaways from Glass Reactors Market Study

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

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Competitive Landscape

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

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

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

About Us:

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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The global market for Large synchronous motors is anticipated to be valued US$ 222 million in 2031. In its analysis, Future Market Insights (FMI) predicts a stable long-term growth outlook for the market. According to the study, the worldwide big synchronous motor market will grow at a moderate CAGR from 2021 to 2031. The report looks at 20+ high-growth sectors and gives specifics on how the growth of Large Synchronous Motors will vary over the next decade.

The COVID-19 outbreak and subsequent measures to contain the virus’s spread dampened demand for big synchronous motors in 2020. Nonetheless, when the industrial sector begins to revive, sales will increase up. According to the report, demand for large synchronous motors with capacities of 25 to 40 MW is expanding. Heavy-duty applications, on the other hand, found demand for the 40 to 80 MW capacity. Throughout the forecast period, the 25 to 40 MW category will continue to account for the majority of sales, according to the analysis.

Increasing in investment in various public infrastructure projects will create lucrative opportunities for growth. For instance, the expansion of water treatment plants, especially desalination plants, will fuel the demand for large synchronous motors.

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The overall market for large synchronous motors growing at a relatively slow pace post the pandemic, nonetheless, its trajectory will continue rising steadily through the course of the report’s forecast period. The three key markets for large synchronous motors are China, India, and Europe. Markets in ASEAN countries are expected to grow moderately.

Key Takeaways

• Large synchronous motor market will exhibit 2.6% y-o-y growth in 2021, backed by increasing application across diverse sectors
• The U.S. will emerge as a lucrative market, thanks to expansion of mining activities. It will account for nearly 75% of sales in North America market in 2021
• Within the U.K. increasing focus on water treatment will continue driving growth
• Expansion of infrastructural facilities will create growth opportunities in France and Germany
• China will emerge as a highly lucrative market, thanks tocontinued investments in power generation and industrial infrastructure.

“Surge in demand for 25 to 40 MW synchronous motor in recent years is expected to provide an impetus to large synchronous motor sales. High efficiency, low fuel requirement, and high performance of large synchronous motors will continue creating growth opportunities,” says FMI analyst.

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Subdued Growth Likely following COVID-19 Outbreak

The COVID-19 pandemic is currently impacting the global economy at various levels and the impact is seen on large synchronous motor market as well.  The Large Synchronous Motor growth is currently subdued by the COVID-19 pandemic crisis and is expected to witness a significant drop in demand till 2021.

With a number of end use industries affected in several countries, the growth of the market is challenged as well. The decelerating demand is expected to result in a significant drop in Y-O-Y growth yet FMI expects large synchronous motor to grow at a moderate CAGR through 2031.

Competitive Landscape

The market is fairly consolidated, with key 7-8 players accounting for overall market share.Some of the key players in the market are

• ABB,
• General Electric,
• WEG,
• Siemens AG,
• VEM Group, among others.

These players are likely to invest in new technologies, especially customized variants, to maintain their market share.

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

1.5. Technology Roadmap

1. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

2.3. Overview of Configurations (2 pole, 4 Pole motor)

2.4. Overview of rated torques of power types

2.5. Overview of Motor Design & Energy rating Standards (IEEE, API, etc.)

1. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

1. Key Success Factors

4.1. Degree of Device Customization as per End User Specifications

4.2. Project Bidding/ tender & Order Management

Full TOC Continued…

About Us:

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:
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Demand for corrosion protective coatings and acid proof lining materials will remain stable in 2016, with global revenues totaling 31,636.2 Mn in 2016, a 5.5% increase over 2015. In 2016, the construction sector’s slow but promising growth will continue to drive the adoption of corrosion protective coatings and acid proof lining market. The marine sector will also see strong demand, with annual revenues expected to total $6,628.1 million in 2016, a 5.2% increase over 2015.

In 2016, coating technology innovation will continue to open up new growth opportunities. The transition from solvent-borne to waterborne technology will continue to gain traction, with the former expected to grow 4.5% year over year in 2016 over 2015. The water-borne technology segment will grow 6.3% year on year in 2016. In addition, increased investment by key players in developing economies is expected to boost demand for corrosion protective coatings and acid proof lining materials.

Polymer coatings will continue to be the most important corrosion protective coating product type, with revenues of 17,597.4 Mn in 2016, a 5.8% increase over 2015. Ceramic and carbon brick lining will continue to be the most profitable product segment in the acid proof lining segment, accounting for $1,068.1 million in revenue in 2016.

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Demand for corrosion protective and acid proof lining materials will remain strongest in Asia Pacific, with the region representing 36.7% revenue share in 2016. Steady pace of construction in the emerging countries of Asia Pacific will continue to create sustained demand for corrosion protective coatings and acid proof lining materials in 2016 and beyond. North America and Eastern Europe will maintain their position as the second- and third- largest market for corrosion protective and acid proof lining materials in 2016. These two regions will collectively account for 33.6% revenue share of the market in 2016.

BASF Coatings GmbH, PPG Industries, Inc., The Sherwin-Williams Company,    Ashland Inc., Axalta Coating Systems Ltd., Hempel A/S, International Paint Ltd., and Jotun A/S etc. are some of the leading players in the global corrosion protective coatings and acid proof lining market. Concerns on the environmental impact of coatings and acid proof lining materials is influencing leading companies to focus on developing sustainable products — FMI expects this trend to gain further momentum in 2016.

Long-term Outlook: FMI maintains a positive long-term outlook on the corrosion protective coatings and acid proof lining market, anticipating the market to increase at 6.2% CAGR during the forecast period 2015-2025.

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Key Segments Covered

• By End-use Industry
  • Marine
  • Oil & gas
  • Power generation
  • Construction
  • Automotive
  • Transportation vehicles
  • Chemicals
  • Mining & metallurgy
  • Others
•  By Product Type
  • Corrosion Protective Coatings Market
  • Polymer coatings
  • Rubber lining systems
  • Acid Proof Lining Market
  • Ceramic & carbon brick lining
  • Tile lining
  • Thermoplastics lining
• By Technology
  • Solvent-borne
  • Waterborne
  • Powder-based
• Key Regions/Countries Covered
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia-Pacific Excluding Japan (APEJ)
  • Middle East & Africa

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
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Increased oil drilling and construction activities around the world are expected to drive up demand for bentonite market between 2021 and 2031, according to a new study by Future Market Insights (FMI). The market is expected to reach $2.37 billion by the end of 2031, according to the report. It is expected to grow steadily over the forecast period, especially since developing economies are expected to offer lucrative growth opportunities.

Bentonite is a highly colloidal clay mineral that contains a number of accessory minerals including quartz, feldspar, calcite, and gypsum. Bentonite’s properties such as water absorption, swelling, viscosity, hydration, and thixotropy make it a valuable material in a variety of industries. The chemical and mechanical properties of bentonite materials can be changed by varying the additions and combinations of raw materials, depending on the application or use of the finished product.

Bentonite is well-known for its adaptability and use in a variety of industries, including construction, oil and gas, food, pharmaceutical, and foundry. The oil industry is expected to maintain its dominance, accounting for nearly one-fourth of all bentonite sold globally.

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Key Takeaways

• Driven by applications across diverse industries, the bentonite market will exhibit a CAGR of 6.2% between 2021 and 2031
• With oil and drilling activities pacing up, the U.S. is expected to account for 88% of bentonite sales in North America
• Bentonite production in France and Poland will pick up at an impressive pace post lacklustre growth registered in 2020
• Germany and Russia are expected to emerge as leading markets for bentonite in Europe
• China is expected to spearhead growth of bentonite market in East Asia

“Role of bentonites in oil drilling applications continues to propel the overall market growth. However, due to stringent regulation imposed by governments on the use of some of the intermediate chemicals, which are used collectively with bentonite in drilling applications, the market might witness some hindrances to growth. Nonetheless, key manufacturers are focusing on enhancing the production rate which will aid the overall expansion of the market in the coming years.” says FMI analyst.

Competitive Landscape

The market is moderately fragmented with key players accounting for small market share. Some of the key players in the market are Kemira OYJ, Mineral Technologies Inc. Clariant AG, Kunimine Industries Co., Ltd. Charles B Chrystal Co. Inc, Ashapura Group of Companies, Halliburton Co, Wyo-Ben, Inc, Polymer Drilling Systems (PDS) Co, Inc, Black Hills Bentonite, LLC, Alfa Aesar, Kutch Minerals, among others. These key players are expected to invest in new technology developments and their networks expansion in order to maintain their market shares.

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Bentonite Market by Category

Product Type

• Sodium
• Calcium
• Others

Application

• Drilling Fluids
• Binder
• Sealant
• Absorbent/Adsrobent
• Clarification Agent
• Others

End- Use Industry

• Oil
• Foundry
• Construction
• Food
• Pharmaceuticals
• Others

Region

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

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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:

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According to the study at Future Market Insights (FMI), the global automotive plastic market is expected to secure US$ 28.5 Million in 2022 and reach US$ 45 Billion by 2032. During the forecast period from 2022-2032, the market is likely to display a CAGR of 4.67%. The growth of the market can be attributed to the manufacturers’ increasing focus on reducing vehicle weight.

Players in the industry are taking various initiatives to strengthen their position in the market during the assessment period. For instance, in 2021, Covestro AG rolled out a new product, recycled Polyethylene Terephthalate (rPET). The recycled PET has been optimized for 3D pellet printing. This technology is also called fused granulate fabrication (FGF). It allows for speedy and economically viable additive manufacturing of large-size parts.

Governments across the globe are focusing to curb emissions and introduce fuel economy regulations for vehicles. Implementations of such regulations have forced automotive OEMs to boost the application of lightweight materials like plastics. Advanced plastics aid in ensuring the fuel economy of a vehicle while assuring safety and performance.

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For instance, the U.S is regulated by the National Highway Traffic Safety Administration (NHTSA) and EPA. As per the regulations, the rule establishes standards that would demand an industry-wide fleet average of approximately 49 mpg for passenger cars and light trucks in the model year 2026, by increasing fuel efficiency by 8% annually for model years 2024 and 2025 and 10% annually for the model year 2026.

On the contrary, safety issues associated with the consumption of plastic are expected to hamper the automotive plastic market during the forecast period. Ban on plastic application is projected to limit the industry for automotive polymers as they create disposable issues that harm the environment. Such factors are expected to hinder the market in the forecast period.

Key Takeaways from the Study:

• The global automotive plastic market is expected to secure US$ 28.5 Billion by 2022
• The global automotive plastic market is anticipated to display a CAGR of 4.67% by 2032
• The global automotive plastic market is projected to hold a value worth US$ 45 Billion by 2032
• China is expected to have claimed 69% of the global automotive plastic market revenue
• The Interior Furnishing segment is likely to have claimed about 30% of the global automotive plastic market revenue in 2021

“Increasing demand for EVs and growing implementation of stringent rules to curb carbon emission are expected to benefit the market significantly during the forecast period,” says an FMI analyst.

Competition Analysis

Key players in the global automotive plastic market include LyondellBasell Industries Holdings B.V, Evonik Industries, BASF SE, Arkema Group, DuPont de Nemours, Inc., The Dow Chemical Company, Hexion Inc., Momentive Performance Materials, Hanwha Group, Saudi Basic Industries Corporation (SABIC), Formosa Plastics, Sumitomo Chemical Co., Ltd., Mitsui Chemicals, Inc., Zoltek, Covestro AG, and Eastman Chemical Company.

Recent Updates from the Industry Include:

• In May 2020, BASF rolled out the new styling polymer Luviset 360 which provides a flawless styling performance in six dimensions. The product is flexible, has a long-lasting hold, is strong, and has low flaking. It allows for new textures and supports anti-pollution claims.
• In June 2021, LyondellBasell and Neste inked a long-term agreement under which LyondeBAsell will source Neste RE, a feedstock from Neste that is being manufactured from 100% renewable feedstock derived from bio-based sources like residual oils and fats and waste. The feedstock will be processed through the cracker at LyondellBasell’s Wesselling, Germany, plant into polymers and sold under the brand name of CicrulenRenew.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global automotive plastic market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Material Type (Polypropylene (PP), Polyurethane (PUR), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene (PE), Polystyrene (PS), Polycarbonate (PC), Polyamide (PA), Acrylic (PMMA etc.), Plastic Composites, Others), by Application (Interior Components, Exterior Components & Frame), By End Use (Conventional Vehicles, Electric Vehicles), & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).

About the Chemical and Materials at Future Market Insights

The chemicals & materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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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
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East Asia is anticipated to be a highly rewarding market for industrial temperature controllers over the forecast period. Currently, the East Asian industrial temperature controller market holds a dominant market share of 34.6% and is predicted to maintain a similar outlook through 2030.

Meanwhile, South Asia and the Pacific regions account for a share of 19.6% in 2022. Shipments of industrial temperature controllers in these regions are anticipated to be driven by similar factors to that of the East Asian region.

The market for industrial temperature controllers is expected to grow from its current net worth of US$ 2.08 billion in 2022 to US$ 3.03 billion by the end of 2030. From 2022 to 2030, the global demand for industrial temperature controllers is anticipated to grow at a CAGR of 4.8%.

The market has been able to pick up steam thanks to the inclusion of communication features that allow for remote control of devices and the smaller size of equipment. As market players continue to concentrate on improvements in the way that devices communicate with one another to enable connection to a computer, this trend will persist. This will in turn give access to data required for product optimization.

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In the last couple of years, implementation of industrial temperature control has undergone several stages of evolution starting from indigenous mechanical to microprocessor based systems. With digital implementation of industrial temperature controllers gaining momentum, growth registered by the market is poised to surge in the coming years.

Key Takeaways from Industrial Temperature Controller Market Report

• The industrial temperature controller market is expected to grow at a CAGR of 4.6% between 2020 and 2030
• The market is predicted to reach a valuation of US$ 3 Bn by the end of 2030 due to increasing applications in the research and industrial sectors
• East Asia is exhibiting growth at an impressive pace as governments across high potential markets increase their investment across various industries
• Temperature controller devices are being increasingly used in pharmaceutical and healthcare industry to ensure no irregularities in quality of vaccines during shipment
• Intelligent temperature controllers have risen in popularity due to their ability to make accurate predictions and reduce errors

“Stringent regulations regarding temperature control across industrial plants, food and beverage processing, transportation and storage of vaccines have been fuelling the demand for temperature controllers. Manufacturers are now focusing on developing and integrating new features for digital and PID temperature controllers due as end users seek out more advanced features to optimize production,” says an FMI analyst.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted various industries including the industrial temperature controller market. The implementation of lockdown as well as transport bans have brought production to a halt due to the lack of raw materials. The market experienced a significant drop in value from US$ 1,929 Mn in 2019, to US$ 1,910 Mn in 2020.

The market is however expected to recover and showcase an upward trajectory 2021 onwards. Growing need for safe vaccine storage and food shipments is expected to increase demand in the market.

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Who Is Winning?

Increasing applications of industrial temperature controllers have been creating growth opportunities for players in the market. They are now focusing on producing advanced technologies to improve reading accuracies as well as ensure a safe working environment. New intelligent controllers are being introduced to boost temperature control rates and promote remote access.

For instance, Omron introduced NX-TC series with Artificial Intelligence (AI) in 2018. It is particularly designed for multi-loop applications and offers easier in-panel installation.

Some of the key players in the industrial temperature controller market are Honeywell, Panasonic, Delta, Durex Industries, Xiamen Yudian, Jumo, Schneider Electric, Yokogawa Electric Corporation, ABB Ltd., Rockwell Autoation, Autonics, Tempatron, Omron Industrial, Fuji Electric Co., Omega Engineering, Analog Devices, Watlow, RKC Instruments and Siemens.

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According to Future Market Insights, an ESOMAR-certified consulting firm, the global textile chemicals market will grow at a 5.40% CAGR between 2021 and 2031. According to the FMI, due to the unprecedented outbreak of Covid-19, textile chemicals market sales declined, registering a 1% CAGR between 2016 and 2020. However, growing global demand for PPE kits and masks improved the supply-chain of textile chemicals in China, India, and Japan.

The apparel industry’s increasing demand for non-toxic chemicals is driving up global textile chemical sales. To meet the demand in the textile and apparel industries, key players are investing heavily in research and development for the development of eco-friendly non-toxic chemicals. The development of chemicals that reduce water consumption in textile production and processing will boost textile chemical demand in China, India, and Vietnam, boosting growth.

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FMI forecasts, South Korea and Japan, collectively, accounted for around 12% global market share backed by the burgeoning demand within apparel industry in 2021.

According to the FMI’s analysis, the global Textile chemicals market reached a valuation of US$ 22,126.3 Mn in 2021.

Key Takeaways from FMI’s Textile chemicals Market Study

• By application type, apparel segment will lead the global textile chemicals market over the forecast period.
• In terms of product type, textile auxiliaries will retain its dominance, witnessing high single digit growth during the forecast period
• Finishing process will be the most preferred process among textile chemicals manufacturers, registering a growth of 10.6% CAGR
• Japan will emerge as the leading market across North America backed by the high demand within the textile & apparel industry
• India will emerge as the most lucrative market registering fastest growth in terms of value over the forecast period
• China is anticipated to lead the East Asia’s Textile chemicals market, exhibiting the growth at 10.6% CAGR

Increasing sustainability approach for reduced water consumption and adoption of non-toxic chemicals are fuelling the demand from apparel industry. This has in turn strengthened growth opportunities for the market players, says the FMI analyst.

Competitive Landscape

Huntsman Corporation, Archroma Management LLC, Evonik, Kemira, Solvay, Lonsen, CHT Group and DyStar Group among others are some of the key players profiled in the textile chemicals market.

As per the FMI’s analysis, the market is dominated with top 5 players operating in Textile chemicals market, accounting for around 20-25% of market share.

Key players are adopting sustainable approaches to strengthen their position in the industry while adhering to the stringent regulations for textile chemicals laid down by government.

Long-term agreements with apparel industry stakeholders and targeted mergers & collaboration to improve the revenue generation will be one of the key strategy adopted by industry players.

For instance, Department of Textile Engineering, University of Engineering and Technology (UET), in May 2021, announced the launch of the textile sustainability working group to conduct training and seminars, mill assessment related to energy conservation and sustainability research & development projects.

In July 2019, Achitex Minerva announced the acquisition of the corporate assets of Minerva Color Columbiana for the expansion of the market structure of Achitex Minerva Colombia LTD, in Bogota

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More Insights on the Global Textile Chemicals Market

In its latest report, FMI provides an incisive coverage on the global Textile chemicals 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 (textile auxiliaries and textile colorants), application type (apparels, home furnishings, and others), and process type (pre-treatment, dyeing, finishing, and others) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)

Table of Content

1. Executive Summary
2. Research Methodology and Scope
3. Assumptions & Acronyms used
4. Textile Chemicals Market Overview

4.1. Introduction

4.2. Market Segmentation

5. Asia Textile Chemicals Market Overview

5.1. Market Size and Forecast (Value) – 2021 – 2031

5.2. Historic and Projected Y-o-Y Growth

5.3. Market Dynamics

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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
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Plot No: JLT-PH2-X2A
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For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/category/chemicals-and-materials

 

According to Future Market Insights, an ESOMAR-certified research and consulting firm, the global coated fabrics market is expected to be valued at US$ 19,976.7 Mn in 2021, with a stable long-term projection. The global coated fabrics market is expected to grow at a 5.1% CAGR between 2021 and 2031, according to the report. The report provides detailed insights on how Coated Fabrics growth will evolve over the next decade, with analysis in 20+ high-growth markets.

Demand for coated fabrics fell in 2020, owing to the economic consequences of the unprecedented COVID-19 crisis. The manufacturing industry, on the other hand, is currently in recovery mode. Despite the possibility of a stimulus in many countries, the market’s long-term outlook remains positive. Rising transportation application will continue to support growth. According to FMI, this sector will account for more than 34% of application sales.

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Key Takeaways

• China, Japan, South Korea and ASEAN countries are witnessing high demand for coated fabric
• China being the largest market in the world, is also expected to hold highest share in the coated fabrics due to presence of strong local base and extensive production facilities and availability of raw materials
• The U.S. emerges as a leading market, accounting for over 84% sales in North America.
• Increasing automotive sales will support growth in the U.K., enabling it to exhibit 5.6% y-o-y growth in 2021
• Germany and France too will record high growth, driven by increasing focus on workplace safety

“Upsurge in demand for protection clothing and safety measures in the transportation in recent years is expected to provide an impetus to coated fabrics sales. Safety and high demand for various purposes of coated fabrics is expected to create substantial growth prospects. Leading players are enhancing their territories. However, contract acquisitions, collaborations and partnerships are some of the key strategies which will drive market players to strengthen their market presence and to gain market share” says FMI analyst.

The COVID-19 pandemic is currently impacting the global economy at various levels and the impact is seen on coated fabrics market as well.  The market growth is projected to be affected by the COVID-19 pandemic crisis and it is expected to witness a significant drop in demand in 2021. With a number of end-use industries affected in several countries, the growth has also been impacted due to challenges in manufacturing sector. The shortage in demand are expected to result in a significant drop in Y-O-Y growth yet FMI expects Coated Fabrics to grow at 5.1% CAGR through 2031.

Competitive Landscape

The market is moderately consolidated, with key players accounting for significant market share. Some of the key players in the market are Saint Gobain S.A, Bayer AG, PPG Industries, 3M Company, among others. These players are likely to invest in new technologies, especially customized variants, to maintain their market share.

Coated fabrics market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop specific purpose that meet personalized requirements of end users. Collaboration with regional manufacturers is framed as a prime strategy expected magnify in the forecast.

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Valuable Insights into Coated Fabrics Market

Future Market Insights, in its new report, offers an unbiased analysis of the global coated fabrics market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the market on the basis of material type (rubber coated and polymer coated) and application (commercial tents, furniture, industrial, protective clothing, and transportation) across seven regions.

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
Browse latest Market Reports: https://www.futuremarketinsights.com/category/chemicals-and-materials