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Automotive Refinish Coatings Industry Report 2022, Demand, Trends and Forecast till 2030
June 23, 2022 4:36 - Pas de commentaireAutomotive refinish coatings are special paints used in renovating existing or old vehicles. It is primarily driven by lack of maintenance by vehicle owners and rise in number of accidents. The global automotive refinish coatings market report compiled by Market Research Future (MRFR) by analysts with substantive research covering pertinent factors, trends, opportunities, and challenges for the period between 2022 and 2030 (forecast period).
Market Scope
The global automotive refinish coatings market is expected to thrive at 5.75% CAGR during the forecast period to achieve a valuation of USD 10.3 billion by 2030. The resurgence of the automotive sector as well as the large production of cars globally is projected to fuel market growth. Rising GDP of nations and increased purchasing power of consumers can positively impact the market. The increasing number of vehicle collisions can also work in favor of the global automotive refinish coatings market.
Investments in high-end and luxury cars can be lucrative to the market growth. Entry of strong brands as well as diverse range of cars can bear fruit for the global automotive refinish coatings market. The trend of modifications and need for customized designs are factors which can have a positive impact on the market. Awareness of the protective nature of these paints against scratches and damages on vehicle surfaces can augment the market size till 2030. Manufacturers are providing additional training to servicing units and refinishing stations due to introduction of new paints and substrates.
However, restrictions imposed on volatile organic compounds (VOCs) emissions and environment concerns are factors which can impede market growth.
Segmentation
The global Automotive Refinish Coatings Industry is segmented by resin, product type, technology, and vehicle type.
By resin, it is segmented into acrylic, alkyd, epoxy, and polyurethane.
By product type, it is segmented into primer, basecoat, clearcoat, activator, and filler and putty.
By technology, it is segmented into water-borne coatings, UV-cured coatings, solvent-borne coatings, powder coatings, and high solid coatings.
By vehicle type, it is segmented into two-wheelers, commercial vehicles, and cars.
Regional Analysis
The Middle East & Africa (MEA), North America, Latin America, Asia Pacific (APAC), and Europe are regions covered in the global automotive refinish coatings market report.
The APAC region is expected to grow due to the rapid industrialization from Malaysia, South Korea, China, India, and Japan. Other factors influencing regional market growth include increased purchasing power of consumers, awareness among the populace regarding maintenance and protection of vehicles, and rising urbanization. Rapid development of roads in China as well as procurement of vehicles can benefit the global automotive refinish coatings market growth.
North America can contribute to the global automotive refinish coatings market due to rising demand for passenger vehicles in the U.S. Growing need for customization, repair, and maintenance in the coming years can drive the global market growth. Europe can grow due to presence of large automotive manufacturers in the region as well as buying power of consumers in Belgium, France, U.K., Italy, and Germany.
The MEA and Latin America regions can drive the global automotive refinish coatings market due to steady industrialization and urbanization among the countries in the respective regions. Sale of luxury vehicles in Dubai as well as the growing oil & gas industry in countries of the MEA can benefit the market.
Industry News
BASF SE has invested in a new automotive refinish technology facility which will start production by 2022. It is situated in Jiangmen, South China.
Competitive Outlook
Covestro AG, Berger Paints India Limited, PPG Industries, Inc., Nippon Paint, The Valspar Corporation, 3M, Kansai Paint Co., Ltd, Mitsui Chemicals, Inc., The Lubrizol Corporation, Akzo Nobel N.V, Axalta Coating Systems, LLC, BASF SE, KCC Corporation, The Sherwin-Williams Company, Esdee Paints Limited, and KAPCI Coatings are prominent players of the global automotive refinish coatings market.
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Protective Clothing Market Size | Emerging Trends, Growth Insight, Leaders, Services and Future Forecast to 2028
June 23, 2022 4:24 - Pas de commentaireProtective clothing is used in a wide range of end-user industry owing to their excellent properties such as thermal resistance, chemical resistance, and U.V resistance. It is extensively used in the military and defense sector due to high tensile strength, flame retardant, and antiballistic properties. The rising growth of the construction and manufacturing industries across the globe is substantially affecting the growth of the protective clothing market.
The global protective clothing market has been driven by a range of application in the various end-use industries such as building and construction, military and defense, oil and gas, and mining among others. Moreover, it is estimated that the building and manufacturing sector are set to witness the highest growth due to the various regulation by the government to reduce occupational hazards and ensure the safety of the workers during the forecast period, 2021-2028.
Market Segmentation:
The global Protective Clothing Market Size is segmented into the material, application, and end-user. On the basis of the material, the market is segregated into aramid & blends, polyolefin & blends, polyamide, PBI, cotton fibers, laminated polyesters, and others. The market by application is categorized into thermal, chemical, mechanical, visibility, and others. The market by end use industry is further segregated into oil & gas, construction & manufacturing, healthcare/medical, mining, military, and others.
Market Scenario:
The building & manufacturing followed by the oil and gas end-user segment are the dominant segments. Healthcare is anticipated to be the fastest growing segment during the forecast years. The growing use of protective clothing in the healthcare industry to face various hazards such as chemicals, body fluid contaminations, and steel instruments among others is expected to add to the growth of the segment.
Regional Analysis:
The global protective clothing market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at an exponential CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as the construction and manufacturing among others, which, in turn, is anticipated to fuel the demand for protective clothing in the region. Moreover, the growing oil and gas activities to meet the energy requirements mainly in India and China is also expected to surge the demand for protective clothing in the region.
The European region is estimated to witness a significant growth in the countries owing to burgeoning construction and healthcare industry. The implementation of stringent regulations to ensure the safety of workers coupled with the growing adoption rate is other factor contributing to the growth of the market. This major country attributing to this growth are Germany, France, Italy, and U.K among others.
The North American protective clothing market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries such as healthcare and construction coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing investments in the infrastructural development are further expected to add fuel to the growth of the market. In addition to this, the growing defense budget in the region has augmented the demand for protective clothing in the military and the fire protection sectors.
Competitive Analysis:
Some of the prominent players operating in the global protective clothing market are 3M Company (U.S.), Ansell Limited (Australia), Asatex AG (Germany), Australian Defense Apparel (Australia), Bennett Safetywear Ltd (U.K), Bulwark Protective Apparel (U.S.), DuPont (U.S.), Globe Manufacturing Co. LLC (U.S.), Honeywell International Inc. (U.S.), and Kimberly Clark Corp. (U.S.) among others.
Folding Cartons Market Growth Factors Analysis Report to 2030
June 23, 2022 4:03 - Pas de commentaireMarket Research Future (MRFR) study on the global folding cartons market (2021-2030) discusses and analyses the influence of the outbreak of COVID-19 on the global folding cartons market, including future opportunities and challenges, drivers, and risks. The report provides an assessment of the effect of COVID-19 on the global folding cartons market and an estimate of business growth based on different scenarios.
The packaging of a product plays a vital role in most industries. So, many manufacturers give importance to packaging and have large budgets. Packaging and folding cartons are some of the most common and most popular forms of consumer packaging in the market. They are commonly used in retail packaging to carry individual items and can also be used very effectively to view and promote products that generate more sales.
Market Segmentation
The global Folding Cartons Market has been segmented into wall construction and end-use.
By wall construction, the global folding cartons market has been segmented into single-wall corrugated, double-wall corrugated, and triple-wall corrugated.
By end-use, the global folding cartons market has been segmented into healthcare, household, personal care, and others.
Regional Analysis
Regionally, the global folding cartons market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific earned a significant market share and will continue to dominate over the assessment period. The increase in the revenue share of this market is due to increased demand from consumers in the region for convenient packaged food items. Established organized retailing in many parts of the region is also anticipated to contribute to the future growth of the market.
Market Dynamics
The growth in technological innovations is one of the significant developments in the folding carton industry. The use of the latest technologies and designs and the introduction of new products will meet the increasing demand for folding cartons manufacturers. Rising demand for packaged food items is driving the growth of the folding carton industry. As a result of the growth in population and the increase in disposable income of consumers, demand for food will increase in many regions of the world. This will also contribute to an increase in demand for folding cartons in packaging.
The food products segment is dominating the folding carton industry. Increased demand for convenience food from consumers across the globe and organized retail has resulted in greater demand for folding cartons. Food vendors are in a demanding situation to offer products with a longer shelf life and appealing packaging to draw customer attention.
Packaging cartons can be designed, shaped, and colored to make the product appear desirable to consumers. There are several ways to advertise a product or brand, including carving text, names and figures, and the use of a broad range of colors and shades. Many businesses are experimenting with carton shapes to improve their shelf appeal. Some of the products are becoming more popular, solely due to their unique packaging.
The packaging market appears to be set for the next stage of development. Strongly favorable demographics, increasing disposable incomes, rising consumer awareness, and demand for processed food drive market development. These factors cause both the packaging suppliers and the end-user industry to switch from bulk packaging to retail, as well as unit-level and small-sized packaging. In addition, the explosion of organized retail growth and the newly relaxed foreign direct investment (FDI) standards in retail and other sectors are expected for the packaging industry.
The new trends observed are the research and development by manufacturers concentrating on advantageous locations for production and short-distance supply locations to minimize costs. The need for continuous differentiation of brands in a competitive market is a catalyst to the increasing demand for innovation in printing methods. This leads to the growth of technologies such as QR codes, holographic images, Fresnel lenses, and other 3D devices. Technological advances in print electronics are also leading to the development of smart packaging. The folding cartons market is predicted to be promising during the forecast period due to major drivers such as the emphasis on high-quality products, evolving customer lifestyles, and growing purchasing power. Manufacturers are increasingly seeking to put more emphasis on innovation in their product offerings in order to meet consumers' requirements. The folding cartons market is undergoing a number of shifts, with changing customer expectations, accelerating technological innovation, and shifting competitive power. Growing government funding commitments and development in packaging are critical factors for the industry's growth in the years to come.
Key Players
The key players in the global folding cartons market include Amcor Limited (Australia), KapStone Paper and Packaging Corp. (U.S.), Westrock Company (U.S.), Huhtamaki Oyi (Finland), Sonoco Products Company (U.S.), Graphic Packaging Holding Company (U.S.), Rengo Co. Ltd. (Japan), Schur Pack Germany GmbH (Germany), Georgia-Pacific LLC (U.S.), and Multi Packaging Solutions Inc. (New York).
PET Bottle Recycling Market trends Drivers, Restraints, Opportunities, Threats, And Growth Forecast To 2030
June 20, 2022 7:29 - Pas de commentaireMarket Research Future published a cooked research report on PET Bottle Recycling Market. The PET bottle recycling market has been anticipated to earn revenues worth USD 5933.6 million while expanding at a CAGR of 5.28 % by 2030.
During the forecast period between 2022 and 2030, the global PET bottle recycling market appears to grow with astounding opportunities.
Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R&D), and strategic alliances.
The factors driving the growth of PET bottle recycling include government support for plastic recycling initiatives, the impact of plastic disposal on the environment, and use of preforms for pet bottles in the packaging industry. Other factors aiding the market growth include the ban on import of plastic waste by emerging economies, and designing of PET bottle to facilitate recycling. However, the lack of awareness regarding the recycling phenomenon can hamper market growth.
Detailed Regional Analysis
The regional analysis of the PET bottle recycling market covers regions such as Europe, Asia Pacific, North America, and the Middle East & Africa (MEA). The Asia Pacific is the biggest regional market. During the forecast period, is expected to grow at 6.59% CAGR due to the rapid urbanization, growing awareness about recycling, government initiatives to encourage recycling, and rising technological advancement. The crucial country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region. India is the largest growing regional market, and it is expected to grow at 7.49% CAGR by the end of the forecast period. Among the remaining countries of Asia Pacific region, Indonesia, Malaysia, Philippines, and Thailand.
The MEA region is the second largest market. During the forecast period, it is expected to grow at 5.19% CAGR because used bottles are 10% of the gross urban waste generation. The use of bottles has increased in this region over the past two decades because of the slowly growing urban lifestyle.
During the forecast period, Europe is to emerge as the third largest market due to the presence of strong economies such as France, Germany, and the UK. Other reasons for market growth in this region are government initiatives to encourage recycling and the technological advancement second only to North America. The market growth for Europe is expected to register a 4.89% CAGR during the forecast period. Germany is the largest country-specific market in Europe, and during the forecast period, it is expected to grow at 5.91% CAGR, and its worth is expected to be USD 468.3 million. The countries included in the segment titled "remaining countries of Europe" include the Netherlands, Poland, and Spain.
The Americas is the fourth largest regional market. In 2017, its value was USD 1,349.6 million. During the forecast period, this market has been anticipated to grow at 4.59% CAGR, and its market value will most probably be USD 1,757.3 million. USA, Canada, and Mexico are the most important country-specific markets in this region, followed by the remaining countries in North America and South America. Technological advancement and the presence of many key players in this region boost the North American market. USA is the biggest country-specific market that is expected to grow at 4.81% CAGR, and its value is expected to rise to USD 1,124.7 million. Among both Americas, due to technological advancement, North America is a bigger market than South America.
Segmental Analysis
The PET Bottle Recycling Market trends is segmented on the basis of application, recycling process, and region. The application based segmentation segments this market into beverages, consumer goods, personal care, pharmaceuticals, and others. Based on the recycling process, the market has been segmented into chemical and mechanical.
The regions covered in the global market are Europe, Asia Pacific, The Americas (North America & South America), and the Middle East & Africa (MEA).
Competitive Analysis
The market players are observed as being focused on increasing their operations globally and engage in strategic acquisitions to grow in organic cold pressed juices business. The key players profiled in the PET bottle recycling market are CarbonLITE Industries (USA), Clear Path Recycling (USA), Indorama Ventures Public Company Limited (Thailand), Krones AG (Germany), PFR Nord GmbH (Germany), Phoenix Technologies (USA), Plastipak Holdings, Inc. (the USA), and UltrePET LLC (USA).
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aftermarket excavator 2021 Top Manufacturers, Will Generate New Growth Opportunities by 2028
June 20, 2022 7:19 - Pas de commentaireMarket Overview:
Rapid infrastructural development and technological advancement are leading to the incorporation of advanced machinery and equipment in order to optimize the building process in construction industry. excavators are hydraulic machines that are used to excavate and discharge the surface. Market Research Future (MRFR) has published a report stating that the global excavators market is marked to expand at a moderate growth rate till the year 2028.
Market Segmentation:
The global aftermarket Excavators has been segmented on the basis of types, application, and end-user. Based on type, the excavators market has been segmented into mini/compact and crawler/wheeled. Among these, the crawler/wheeled segment is forecasted to expand at the fastest growth rate during the assessment period owing to the high demand for these type of excavators as the work more efficiently due to their mobility and stability induced by heavyweight. Based on application, the excavators market has been segmented into mining, construction and utility. The construction segment commands for the major share in the global excavators market owing to the increased utilization of excavators at construction sites as result of rapid infrastructural development. Based on end-users, the global excavators market has been segmented into contractors, rental providers and others.
Market Drivers and Restraints:
Extensive utilization of excavators in mining and construction industries for fastening the excavation and leveling processes has led to increased productivity on construction and mining sites. Increased construction activities as a result of rapid rise in population and requirement of infrastructures all over the world are majorly fueling the growth of the global excavators market. Increased mining activities and oil and gas exploration are inducing high demand for heavy-duty excavators, which in turn is leading to the expansion of the global excavators market. Emphasis on developing technologically advanced and efficient excavators by the construction equipment manufacturers are also propelling the growth of the global excavators market during the assessment period.
Regional Analysis:
Geographically, the global excavators market has been segmented into four major regions such as North America, Asia Pacific and the rest of the world. Among these regions, the Asia Pacific region is projecting dominance over the global excavators market owing to the increased utilization of excavators as a result of rapid infrastructural development and urbanization in the emerging economies of this region. Booming construction market and increased production of excavators that are equipped with advanced features in order to fasten the excavation process are majorly propelling the growth of the global excavators market in the North America region. Decrease in construction expenditure is negatively impacting the growth of the global excavators market in the Europe region.
Industry Updates:
In November 2018, Caterpillar Inc., the world's largest manufacturer of construction and mining equipment and other locomotives, has launched its next-generation series of excavators, 330 and 330 GC. These brands of excavators are specially designed for high productivity and are available at comparatively low cost.
In November 2018, the Liebherr Group, one of the leading large equipment manufacturers based in Switzerland, has announced that it will be launching its B-version of its excavators, R9100 and R 9150, in January 2019.
In November 2018, Engcon, a leading manufacturer of tilt-rotators and other excavator parts, has introduced a new product, CB29 Cable Bucket for larger excavators.
Key Players:
The leading player profiled by MRFR that are operating in the global excavators market are Caterpillar Inc. (the U.S.), Hitachi Construction Machinery Co., Ltd. (Japan), Komatsu Ltd. (Japan), Volvo Construction Equipment (Belgium), Xuzhou Construction Machinery Group (XCMG) (China), Terex Corporation (the U.S.), JCB Ltd. (the U.K.), Sandvik AB (Sweden), Hyundai Heavy Industries Co., Ltd. (South Korea) and others.
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