P&S Intelligence: May 2018

Wednesday, May 2, 2018

Industrial lubricants Market is Projected to Reach $68 Billion by 2024 Witness a CAGR of 4.3% by Global

Rising demand for a variety of manufactured finished goods as well as subsequent need for expanding production capabilities has influenced manufacturers to rely on different machinery to automate production process and processing functions.

On the basis of product, industrial lubricants market has been segmented into process oils, general oils, metalworking fluids, engine oils and others. Process oils is estimated to hold more than 20% share in the industrial lubricants market in 2017. Processed industrial lubricant is a special category of oil which finds wide application scope in a range of chemical as well as technical industries. Process oils are used as raw material as well as a processing aid in different end-use industries such as chemicals, rubber, and plastic. Increasing demand for chemicals, primarily in Asia-Pacific, is expected to drive their production.

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On the basis of application, global industrial lubricants market has been segmented into metalworking, textile, energy, chemical manufacturing, food processing, hydraulic and others. Chemical manufacturing will be the largest application area for industrial lubricants market, during the forecast period. Chemical manufacturing and processing plant operational challenges include temperature extremes, threat of contamination from other chemicals, continuous operation, water and particulates. Lubricants used in the chemical manufacturing application results in the lengthening of lubricant and equipment lifespan, reduced oil temperatures, reduced friction, heat, energy consumption and extended oil drain intervals.

Asia-Pacific is estimated to hold the largest share in the industrial lubricants market in 2017. The Asia-Pacific region is expected to be the fastest growing industrial lubricants market during the forecast period owing to high growth in the oil market, burgeoning population, rapid industrialization, and urbanization, coupled with strong growth in major end-use industries such as food processing, textiles, chemicals, and metalworking. The market presents several lucrative opportunities to innovators who tap into niche applications and introduce newer products with advantageous product characteristics.

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Growth of chemical manufacturing industry, particularly driven by top chemical manufacturing countries such as Germany, the UK, Russia and France are expected to drive the growth of industrial lubricants market. These lubricants are required for variety of applications such as fertilizer production, compressors, and rotatory machines. They help in optimizing the performance and operating life cycle of the equipment which is subjected to severe stress and wear & tear. Increasing demand for processed food & beverages owing to changing consumer preferences and busy lifestyle is expected to fuel the industrial lubricants market growth in food processing applications.

Growth of energy industry, particularly oil & gas and mining in North America is expected to be a key driving factor for industrial lubricants market growth in the region. These lubricants are required at every stage of the energy generation sector ranging from performance efficiency of the equipment to the availability at all times.

Some of the major players operating in the global industrial lubricants industry are ExxonMobil Corp., Fuchs Group, The Lubrizol Corporation, Royal Dutch Shell, Phillips 66, Lucas Oil Products, Inc., Amsoil, Inc., Bel-Ray Co., Inc., Total S.A., Kluber Lubrication, Valvoline International, Inc., Chevron Corp., Clariant, Quaker Chemical Corp., Zeller+Gmelin GmbH & Co. KG, Houghton International, Inc., Castrol, Blaser Swisslube, Inc., Calumet Specialty Products Partners, L.P., Petronas Lubricant International, Idemitsu Kosan Co., Ltd. and Yushiro Chemical Industry Co., Ltd.

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Ceramic Matrix Composites (CMC) Market by Manufacturers, Regions, Type and Application, Forecast to 2024

The high cost of ceramic fibers has greatly influenced the market growth. Unlike the carbon fiber, which is used in most of the metal and polymer composites and thus, is produced in bulk, other ceramic fibers are produced in small quantities, which refrains them from enjoying the cost benefits of mass production. Ceramic matrix composites production being a high enthalpy process, adds up to the product cost, which makes it useful in applications such as defense, aerospace, thermal management, and other.

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On the basis of product, the ceramic matrix composites market has been segmented into oxide, silicon carbide (SiC), carbon, and others. SiC matrix composite has been holding the largest share in the ceramic matrix composites market, with an estimated contribution of over 25% in 2017. SiC composites were commercially developed a long time back and their higher oxidation resistance than carbon matrix composites has made them attractive for aerospace applications.

On the basis of application, the ceramic matrix composites market has been segmented into aerospace, defense, electrical and electronics, energy and power, and others. Of these, aerospace is estimated to be the dominating category in terms of share, during the forecast period. The major factor expected to propel the demand of CMC in defense applications is its lightweight material and good abrasion-resistance properties. Their excellent impact and tensile strength coupled with high hardness makes these composites apt for manufacturing bullet-proof armor, defense equipment, and insulation in small arms platforms. A majority of ceramic materials is transparent to specific types of light and kinetic energy, which make them suitable for applications in infrared domes, multi-spectral windows, and sensor protection.

North America is estimated to hold the largest share in the ceramic matrix composites market, accounting for more than 30% in 2017. This can be attributed to the presence of major aviation industries, their investment for developing ceramic matrix components for manufacturing aviation components, and private-public partnerships for upgrading defense and aerospace equipment. The growing demand for ceramic composites in the manufacturing sector of the U.S. has been identified as the future growth driver for the market. Ceramic matrix composites’ demand in the power and energy sector in North American countries is boosting the overall growth prospects of the market.

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In Asia-Pacific, the increasing expenditure on defense and space exploration projects has fueled the growth of the ceramic matrix composites market during the forecast period. Also, initiatives such as ‘Make in India’ have resulted in the growth of the manufacturing sector in this region. Growing defense and aerospace sectors along with increasing spending on construction of nuclear power plants, power distribution centers, utilities, and others, are expected to foster the market growth in the region.

Some of the major players operating in the global ceramic matrix composites industry are The 3M Company, Applied Thin Films, Inc., COI Ceramics Inc., General Electric, CoorsTek Inc., CeramTec, KYOCERA Corporation, Lancer Systems LP, SGL Carbon SE and Starfire Systems Inc.

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Tuesday, May 1, 2018

Insulation Market - Booming In Construction Industry Drives Demand for Thermal, Electric, Acoustic Insulation By 2025

Growth in the demand for insulation in residential and non-residential applications owing to the growing importance for energy conservation and rising energy costs are expected to trigger the growth of the market during the forecast period. Government initiatives to promote energy efficiency and sustainable development through insulating technologies are expected to further propel the insulation market growth.

On the basis of product, the insulation market has been segmented into glass wool, mineral wool, expanded polystyrene (EPS), extruded polystyrene (XPS), and others. Glass wool and EPS are estimated to hold more than 50% share in the market in 2017. Glass wool comprises glass fibers which are bound systematically into a structure similar to wool, and it is lighter as compared to rock wool. It is a thermal insulator consisting of flexible and knotted glass fibers, which trap air inside, resulting in low density and is produced in slabs and rolls along with several other favorable mechanical properties.

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On the basis of application, global insulation market has been segmented into residential construction, non-residential construction, industrial, heating, ventilation, and air conditioning (HVAC) & original equipment manufacturer (OEM). Of these, the residential construction category is estimated to hold the largest share during the forecast period. The extent of insulation for residential construction is dependent on the design of the building, personal preferences, climate, and energy costs and budget. The selection of insulation strategy for any construction is based on the process of energy transfer that occurs within it, and the potency and orientation of energy flows, which may vary from day-to-day or season-to-season basis.

Europe is estimated to hold the largest share in the insulation market, with more than 25.0% revenue contribution in 2017. The high demand for insulating materials from residential buildings is expected to drive the European insulation market growth during the forecast period. Increasing energy costs and high awareness among consumers regarding the benefits of insulating are expected to have a positive impact on the market growth in the region.

North America is characterized by a strong presence of the insulating materials industry participants. Companies in the region have developed high quality insulating products for usage in commercial, industrial, and residential applications. They have achieved core competencies in a range of insulating materials such as EPS and XPS and have vertically integrated to optimize production and streamline the value chain. Strong distribution network of these companies coupled with broad portfolio is expected to aid the growth of the insulation market in the region, over the next seven years.

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In the Middle East and Africa (MEA), regulatory standards for construction, some of which stem from environmental policies, have pushed contractors to develop efficient ways to source special materials and supplies, such as thermally insulating materials. Also, manufacturers are resorting to the use of insulating materials to reduce operational costs of equipment, which in turn is likely to foster the growth of the insulation market in the region.

Some of the major players operating in the global insulation industry are GAF Materials Corporation, Guardian Building Products Inc., Huntsman Corporation, Johns Manville, Cellofoam North America Inc., CertainTeed Corporation, ROCKWOOL International A/S, Dow Building Solutions, Owens Corning, Atlas Roofing Corporation, Saint-Gobain S.A., Byucksan Corporation, and Kingspan Group.