Future Market Outlook

Future Market Insights (FMI), in its latest report titled “Compaction Machines Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025”, has projected the global compaction machines market to expand at a steady CAGR of 6.2% in terms of revenue during the forecast period 2015–2025. The compaction machines market is estimated to reach US$ 3,444.3 Mn by the end of 2015, and 6,310.7 Mn by the end of 2025.

Increasing investment in infrastructure development and new road development and maintenance is fuelling demand for compaction machines globally. It is projected that the total investment in infrastructure activities would account between 3.5% and 4% of the global GDP by the end of 2030. Investment in road development and maintenance is forecasted to account for 28% of the total investment made between 2015 and 2025. Furthermore, focus on developing smart cities, runaways, and dams is further expected to boost demand.

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Product-wise, the market is segmented into heavy compaction machine and light compaction machine. Heavy compaction machines are further sub-segmented into single drum roller, heavy tandem roller, and pneumatic roller. Light compaction machines segment, is sub-segmented into light tandem roller, hand operated machines, and trench roller. As far as unit sales are concerned, the light compaction machines segment account for approximately 85% share of the overall market in terms of unit sales,and is likely to dominate the market by the end of 2025, with the rising adoption in footpaths, road, and highway maintenance.  

Region-wise, Western Europe and Asia Pacific represented prominent markets for compaction machines globally in 2014. In terms of market value, the compaction machine market in developing countries of Asia Pacific is collectively projected to expand at a CAGR of 7.6%, with major Asian economies such as India and China playing a major role. However, in term of unit sales, Western Europe dominates with more number of unit sales in the light compaction machinery segment. The Asia Pacific region is expected to be the largest compaction machine market in terms of value by 2025 end, followed by Western Europe and North America.  

As per the ongoing trend in the market, the intelligent compaction machines with display, sensors and telematics are being included in most of the key players’ product offerings.  Currently, the heavy compaction machinery’s rental penetration and secondary sales market is growing significantly. However, this trend is expected to pose a major challenge for new equipment sales.

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Key companies in the compaction machines market include XCMG Co. Ltd, Wacker Neuson SE, Terex Corporation, Atlas Copco, Volvo Construction Equipment - Volvo CE, Caterpillar Inc., BOMAG GmbH, Zoomlion Heavy Industries Science and Technology Co Ltd, Wirtgen Group and Sany Heavy Industries Co Ltd. Currently, global players account for over two-thirds of global revenues, however, in the future, new entrants to the market are expected to gain traction.

Future Market Insights (FMI) announces the release of its latest report titled, “Fatty Amines Market: Global Industry Analysis and Opportunity Assessment 2015-2020”. According to the report, the global fatty amines market was valued at US$ 1,721 Mn in 2014 and is anticipated to reach US$ 2,193 Mn by 2020, registering a compound annual growth rate (CAGR) of 4.2% through the forecast period.

Fatty Amines Market Driven by Booming Water Treatment Chemicals Industry & Demand for Agro-chemicals

Global fatty amines market is driven by growing water treatment chemicals industry and increasing demand for agro-chemicals and asphalt additives, mainly in the developing countries. Water treatment chemicals contribute the highest in terms of demand and share to the global fatty amines market, as compared to the other application segments. Increasing usage of fatty amines in various end-user applications coupled with market expansion and development of novel applications, such as detergents, mining, paints & coatings and fabric softener are further driving the fatty amines market growth. However, fluctuations in availability and volatile raw material prices pose a challenge for the global fatty amines market.

Market Segments

The global fatty amines market is segmented on the basis of product type, application and geography.

By product type, global fatty amines market is segmented into primary fatty amines, secondary fatty amines and tertiary fatty amines. Among these segments, tertiary fatty amines accounted for approximately 48.1% of global value market share in 2014. Furthermore, it is expected to dominate the global fatty amines market throughout the forecast period, exhibiting a CAGR of 3.6% between 2015 and 2020.

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The primary fatty amines market accounted for over 25% of the market value share in 2014 and is expected to increase at a comparatively high CAGR of 4.9%, during the forecast period, owing to its increasing consumption in water treatment chemicals and paints & coatings industry as additives to protect the paints from getting tainted while in storage.

The secondary fatty amines segment accounted for approximately 23% of the global value market share in 2014, and is expected to gain its market share and account for 23.3% of the global fatty amines market by 2020.

On the bases of application, the global fatty amines market is segmented into water treatment chemicals, agro-chemicals, oilfield chemicals, asphalt additives, anti-caking and others (used in personal care, mining, fabric softener, paints & coatings). Among the aforementioned segments, water treatment chemicals is expected to dominate the global fatty amines market with over 29% market revenue share throughout the forecast period. Growing paints & coatings industry, coupled with increasing automobile production in China, Malaysia, Indonesia and Mexico is expected to further propel the demand for fatty amines in the asphalt additives application segment. The scope of applications for fatty amines in others segment is expected to expand in the future too, due to market expansion and innovation in techniques.

On the bases of region, Asia Pacific Excluding Japan (APEJ) dominated the global fatty amines market in 2014, in terms of revenue, accounting for more than 25% of the revenue share. However, North America and Eastern Europe are foreseen to witness relatively high CAGRs of 6.4% and 5.3%, respectively.

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Competitive Landscape

Key players considered in the global fatty amines market include Kao Corporation, Evonik Industries AG, AkzoNobel N.V., DuPont, Clariant AG, CECA Arkema Group, Sigma-Aldrich Corporation, Volant-Chem Group, Procter & Gamble Chemicals Company and Lonza

Automotive in-wheel motors have recorded a remarkable surge in sales in recent years, influenced by multiple factors ranging from greater driving range per charge to elimination of components such as driving and differential shafts. According to a study of Future Market Insights (FMI), the automotive in-wheel motors sales will exceed 720 thousand units in 2019. Affordability of in-wheel motor in terms of power consumption relative to the traditionally employed central drive unit system will continue to uphold its preference by automakers in the near future.

Elimination of unnecessary components is one of the primary adoption determinants of automotive in-wheel motors, as they significantly reduce the weight of battery-electric vehicles (BEVs), while crawling up on vehicle electrification and lightweighting trends. BEV accounted for over 7 in 10 automotive in-wheel motors sold worldwide in 2017, according to the study. A key trend influencing BEV-specific in-wheel motor sales is miniaturization and integration of inverter, which features a compact design.

Automotive in-wheel motors are likely to remain touted as a sustainable future alternative to propulsion systems used in powertrains. With promising future prospects of BEVs, and palpability of optimized hydrogen fuel cell technologies, certainty spotlights automotive in-wheel motors’ promising prospects in the upcoming years.

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Passenger Cars Hold Supremacy in Adoption of Automotive In-Wheel Motors

The study opines that passenger cars will continue to retain their reign in the automotive in-wheel motors market, with approximately 637 thousand units expected to be sold in 2019. Key offerings with affordability, such as improved vehicle dynamics and lower design complexity in power transmission to wheel, continue to drive adoption of automotive in-wheel motors in passenger cars. Passenger cars integrated with in-wheel motors enable enhanced traction control, along with torque vectoring functions devoid of added bill-of-materials.

The automotive in-wheel motors market grows in tandem with penetration of electric vehicles is significantly backed by the regulations on vehicle emission, as nearly 20% of these emissions result directly from fuel evaporation. Contribution of these zero emission vehicles to environment pollution is insignificant, despite their indirect impacts during electricity generation and storage.

Automotive In-Wheel Motors Market: Key Players Introducing Novel Solutions to Clasp Greater Share

Key players in the automotive in-wheel motors market have come up with novel solutions to offset latent challenges faced in terms of deployment, operation, and functionality. Companies such as Protean Electric have claimed to have overcome obstructions related to use of automotive in-wheel motors, such as road shocks and additional mass, along with complexity associated with motor control software.

Protean’s new automotive in-wheel motors make drivetrains highly energy-efficient, while increasing the fuel economy over 30%. On the other hand Nissan has developed automotive in-wheel motors for the working prototype of the company’s futuristic concept car. Companies such as Ziehl-Abegg have introduced automotive in-wheel motors that enable application in fuel-cell, battery-operated, and hybrid commercial electric vehicles.

Permeation of electrification trend in the automotive space shows no signs of abating, with prospects revolving around motor and charging technologies that are becoming more multipurpose and sophisticated. Robust uptake in electric vehicles worldwide has led automotive OEMs to catch up with efforts on the development of second-generation motors, wherein performance, noise, and efficiency are deemed key imperatives. Higher levels of auto parts integration, and sturdy, compact packaging of powertrain components are some of the imminent developments in the automotive in-wheel motors market.

As benefits of automotive in-wheel motors continue to outweigh challenges faced in their deployment and functionalities, along with efforts toward offsetting the latter, industry leaders have directed their focus on R&D activities. These researches are primary aimed at design developments to impart mechanical, electrical, and thermal stress resistance to the automotive in-wheel motors during their operation.

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This FMI study also offers forecast on the automotive in-wheel motors market for the period between 2018 and 2027. The automotive in-wheel motors market will record a staggering CAGR of over 35% through 2027.

According to the latest Future Market Insights (FMI) report, the volume sales of synthetic camphor are likely to exceed 36 thousand tons in 2019. Pharmaceutical industry has been a leading end-user of synthetic camphor, upheld by ongoing research activities on extending application scope of synthetic camphor in medicinal formulations.

Pharma-grade synthetic camphor is extensively used in various topical analgesic products such as ointments, oils, gels, and chest-rubs. These pharma-grade synthetic camphor for topical pain management products are witnessing significant demand owing to consumer preference for self-medication, undergird by enhanced and easy accessibility of OTC products. According to the report, pharma-grade synthetic camphor is projected to account for more than 50% volume share in 2019 in the synthetic camphor market.

Pharma-grade synthetic camphor sales are also significantly driven by growing demand for private-labelled camphorated medical products. For example, private labelled analgesic products have gained increased popularity in the US, as they are devoid of FDA approval, and witness strong promotion from retailer businesses.

A key factor restricting adoption is regulations on the use of synthetic camphor in pharmaceutical products, such as the US FDA’s classification of certain camphorated oil products would require patients to hold doctor’s prescription for consumption. Moreover, rising costs of raw materials such as turpentine oil is emerging as a key concern for manufacturers producing pharma-grade synthetic camphor.

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Gains Remain Strong from Synthetic Camphor Sales in Plasticizer Production

Synthetic camphor continues to witness robust adoption in plasticizer production, which prevails as a critical component for paint and coating formulations. Additionally, demand for plasticizers in PVC and cellulose fiber production, has significantly underpinned sales of synthetic camphor. The study estimates sales of synthetic camphor in plasticizer production to surpass 13 thousand tons in 2019.

Rise in the construction sector, along with increasing demand for renovation and maintenance of existing structures, continues to drive demand for plasticizers in flooring and wall covering applications. Additionally, remarkable demand for plasticizers in flexible Polyvinyl Chloride (PVC) manufacturing, and to soften plastics used in wall covering and flooring, will remain a key sales determinant of synthetic camphor.

East Asia to Hold Pole Position in Synthetic Camphor Market

According to the FMI report, East Asia is likely to remain lucrative in the synthetic camphor market. In East Asia, China is expected to account for the highest sales of synthetic camphor, surpassing 12 thousand tons in 2019. Owing to the presence of a large number of pharma-grade synthetic camphor manufacturers in China, the country is witnessing the growing demand for synthetic camphor.

Growing overseas demand for synthetic camphor and significant growth in Chinese gum turpentine industry are the key factors influencing the market growth in the country. Additionally, with the development of Chinese gum turpentine derivatives such as synthetic camphor and synthetic borneol, overseas companies are eyeing use of these derivatives over gum turpentine.

Majority of the pharma-grade synthetic camphor manufacturers are concentrated in China and India, exporting their products to Europe and the US. Due to the availability of raw materials and synthetic camphor on a large scale in China and India, global manufacturers of camphor and other related chemical are focusing on expanding their businesses in East Asia.

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The FMI report also tracks the synthetic camphor market for the forecast period 2018 to 2028. According to the report, volume sales of synthetic camphor is likely to register 3.0% CAGR through 2028.

Over 152 million units of industrial noise control systems were sold in 2018, totalling a market value worth US$ 4.8 billion. A new study by Future Market Insights (FMI) finds that industrial noise control market is expected to grow at 3.7% y-o-y in 2019. Key factors influencing the growth of industrial noise control market include,

• Growing awareness of harmful levels of industrial noise

Increasing emphasis on the protection of workers and employees from noise pollution

Stringent environment regulation related to industrial noise control

Incorporation of integrated noise control technologies in advanced industrial machinery

The industrial noise control industry is witnessing a shift toward biodegradable materials over traditional materials. Manufacturers are incorporating green and sustainable materials in design and development of industrial noise control units to align with the ongoing sustainability trend.

Polymer & Composites Remain Preferred Materials, Accounted for Over 4 in 10 Sales in 2018

The FMI study finds that polymer and composites are highly preferred materials for the manufacturing of industrial noise control units. Over 4 in 10 industrial noise control units sold in 2018 were made of polymer & composites.

Polymers and composite materials have higher soundproofing properties as compared to other materials such as glass, metal and fabric. In addition, new developments in composite materials provide biodegradability and recyclability, leading to higher sales.   

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Vibration Isolation Units Highly Sought-After

The FMI study finds that over 8 in 10 industrial noise control units sold in 2018 were equipped with vibration isolation unit. As vibrations can significantly impact the overall productivity and durability of a range of industrial machines, industrial noise control with vibration isolation units are highly sought after.

FMI thoroughly analyzed demand trends of different vibration isolation units such as isolation/machinery pads, isolation mounts, equipment bases and spring isolators. Among these, sales of isolation mounts were higher in 2018 and the demand trend will continue in the future as manufacturers consistently introduce advanced and more efficient vibration isolation mounts.

The industrial noise control market is also studied for flexible and rigid industrial noise control instruments by FMI. While both these noise control units significantly address noise pollution issues, FMI study finds that flexible noise control units accounted for the second highest sales in 2018 and demand for rigid noise barriers is expected to grow at 4% in 2019.

Industrial Noise Control Utilization in Internal Application Prominent, Accounted for 7 in 10 Sales in 2018

The FMI study estimates that demand for industrial noise control units for internal noise control application remained higher as compared to the application in external noise control. 7 in 10 industrial noise control units sold in 2018 were for internal application and the demand will continue to grow in the future.

Elevated sound levels at workplaces and other commercial or residential places can cause negative human health conditions such as hearing impairment, annoyance, sleep disturbance, hypertension and in some cases ischemic heart disease. Dissemination of knowledge regarding these harmful effects is contributing to increasing sales of industrial noise control units in the internal noise control application.

Growing awareness of environmental noise as a potential health concern, industrial measures are taken to address the impact of external noise sources. FMI shows that adoption of industrial noise control for external noise control application will grow at 3.9% y-o-y in 2019.

Demand for Industrial Noise Control Units Consolidates in Manufacturing Sector

According to the FMI study, the manufacturing sector remains a prominent end user of industrial noise control units. Different manufacturing industry verticals such as electrical & electronics, industrial machinery, automotive, metal and others significantly integrate industrial noise control measures.

Over 7 in 10 industrial noise control units were sold in the manufacturing sector in 2018, wherein industrial machinery vertical account for the highest sales. As keeping the noise within the OSHA levels in the different manufacturing sector is pivotal in ensuring health and wellness of employees.

Demand in East Asia Continues to Surge, Europe Represents Second Largest Market

As per FMI valuation, countries in East Asia including China, Japan and South Korea registered significant demand for industrial noise control units in 2018. In terms of sales volume, Europe followed East Asia and collectively, these regions accounted for over 6 in 10 unit sales.

China in East Asia remains leading consumer of industrial noise control. A prominent manufacturing sector in the country contributes to the significant demand for industrial noise control. In Europe, Germany followed by France and the UK accounted for considerable bulk of regional demand in 2018.

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While the growth prospects seem steady for the industrial noise control market, development of advanced industrial machineries integrated with noise cancelling technologies and sound or vibration absorbers can impede the market growth in the future.

The recovery of hydrocarbon resources from the reservoir occurs either through natural bottomhole pressure or by creating artificial pressure using artificial lift systems. The artificial lift systems market is expected to witness a moderate annual growth in coming years owing to strengthening of crude oil prices. According to Energy International Agency (EIA), Brent crude is anticipated to be traded at around $90 per Bbl by the end of 2025. Further, the mature fields account for over 70% of the global oil & gas production. With recovery in prices of the global crude oil benchmarks, coupled with attempts to increase production from mature fields, the global artificial lift systems market is expected to witness increased revenues in coming years.

Although, a number of Enhanced Oil Recovery (EOR) techniques are available for increasing the amount of hydrocarbon recovery, but they are considered as tertiary recovery system. The artificial lift system on the other hand is a primary recovery technique, which provides low cost and effective means of maintaining the desired production rate in a well.  An artificial lift system is utilized to overcome bottom-hole pressure during the phase when natural bottomhole pressure is not enough to support the flow of hydrocarbons from reservoir to the well bore. The artificial lift system enables to overcome downhole pressure in order to maintain the desired production rate from a producing well.

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Artificial Lift Systems Market: Segmentation

The global artificial lift systems market has been segment on the basis of geography as well as on the basis of actuation mode used for artificial lift system. On the basis of actuation mode, the global artificial lift systems market has been segmented into pump assisted artificial lift system and gas assisted artificial lift system. The pump assisted artificial lift systems market has been further divided into four different systems, which include Rod Pump, Hydraulic Piston System, Electrical Submersible Pump (ESP), and Progressive Cavity Pump.  Further the gas assisted artificial lift system has been further segmented into two different types of systems – Gas Lift and Plunger Lift. Within the artificial lift systems market, rod pump has been the oldest types of methods that has been used across the industry. However, other artificial lift systems are expected to gain traction in the global artificial lift systems market in coming years.

In terms of geography, the global artificial lift system has been segmented into seven key geographical regions, which include, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (excluding Japan), Middle East & Africa, Japan. The artificial lift system has witnessed a larger market share, in terms of revenue, as compared to other regions across the globe. Increasing mature fields in regions such as Middle East, is expected to drive the market for artificial lift systems through the forecast period.

Artificial Lift Systems Market: Market Drivers

The industry’s inclination and attempts to optimize upstream assets is one of the key drivers for the global artificial lift systems market. Additionally, the recovery in crude oil price after recent plummeting is also likely to drive investments in global artificial lift systems market. The desire to maintain the production rate in a well in addition to the cost effectiveness an artificial lift system provides as compared to tertiary recovery techniques, the artificial lift systems market is expected to witness increased revenue generation in years to come.

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Artificial Lift Systems Market: Key Players

The global Artificial Lift Systems market witnessed key players such as Baker Hughes, Dover Artificial Lift, Flotek Industries, Inc., Halliburton Company, Kudu Industries, Schlumberger Ltd, Weatherford International, among others.

Frontiers of nanotechnology continue to span across the globe and among diversified industrial verticals. Nanoparticles of various elements are gaining competence as crucial industrial constituents, and are witnessing a considerable rise in their applications. Future Market Insights’ recent study explores the market for nanoparticles of metals and metal oxides, and projects that application of such nanoparticles will gain traction duet to their ground-breaking properties.

According to Future Market Insights,

• High physical, chemical and surface properties of metal and metal oxide nanoparticles will fuel their applicability as effective bulk materials

• Metal and metal oxide nanoparticles will also play an instrumental role in manufacturing of innovative products offered in the global consumer electronics industry

• Versatile applicability of metal and metal oxide nanoparticles will also witness higher adoption for drugmakers and medical device manufacturers

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According to the report, titled “Metal & Metal Oxide Nanoparticles Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” the demand for metal nanoparticles is projected to remain significantly higher than that of metal oxide nanoparticles. The global market for metal nanoparticles is presently valued at US$ 13.7 Bn, and will soar at 13.9% CAGR to surpass US$ 50 Bn mark by the end of 2026. During this ten-year forecast period, the US$ 1.8 Bn global market for metal oxide nanoparticle will also surge robustly at 10.4% CAGR, and will procure over US$ 5 Bn revenues towards the end of period. This clearly indicates that by the end of 2026, the global metal nanoparticles market will be worth ten times the projected value for global metal oxide nanoparticles market. Collectively, the global market for metal and metal oxide nanoparticles are bound to soar at more than 10% CAGR throughout the forecast period.

The report reveals that the demand for metal and metal oxide nanoparticles will remain considerably high in three regions – North America, Western Europe and the Asia-Pacific excluding Japan region. Towards the end of 2026, North America will dominate the global metal nanoparticles market with 30% share, while Europe will be at the forefront of global metal oxide nanoparticles market. Companies such as Meliorum Technologies, Inc., Nanostructured & Amorphous Materials Inc., American Elements, SHOWA DENKO KK, and Tekna Systemes Plasma Inc. are recognised as key manufacturers of metal and metal oxide nanoparticles in the world. Other leading participants in the global metal and metal oxide nanoparticles market include US Research & Nanomaterials Inc., Nanoshel LLC, Nanophase Technologies Corporation, Sigma-Aldrich Co. LLC and NanoComposix Inc.

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The report further reveals that personal care & cosmetics industry will remain as the most lucrative end-user of metal and metal oxide nanoparticles. With over one-third revenues share for both, metal and metal oxide nanoparticles, personal care & cosmetic applications will be demanding greater use of such materials. Moreover, the demand for metal nanoparticles will also be high in defence sector, while metal oxide nanoparticles will gain traction in production of electrical and electronic products. Based on research findings, the report also estimates that by the end of 2026, nearly 50% of global metal nanoparticle revenues will be accounted by sales of iron nanoparticles. On the other hand, global revenues emanating from sales of zinc oxide nanoparticles will surge at 11% CAGR.

In a recently released research intelligence outlook, Future Market Insights forecasts high value-low growth landscape for the global petroleum liquid feedstock market over the course of next few years. The global revenue through consumption of petroleum liquid feedstock will reportedly reach around US$ 270 billion in 2019, demonstrating an estimated yearly revenue growth of 3.6% over that attained in 2018.

A steady upsurge in the demand for petroleum liquid feedstock is expected in coming years owing to a positive expansion outlook reflected by the global petrochemicals industry.

Growing Feedstock Applications in Chemicals & Automotive Industries

Mounting consumption of motor fuels and other prominently sold end products such as aromatics, olefins, solvents, and gasoline is primarily driving the revenue of petroleum liquid feedstock at a global level. Applications in aromatics currently account for over 50% revenue share, whereas olefins are positioned by the report as an attractive segment in petroleum liquid feedstock landscape.

With soaring uptake of aromatics by chemicals industry stakeholders, it is most likely that the demand for petroleum liquid feedstock, the key component used during the manufacturing of aromatics, will also witness a strong hike in the near future. Besides chemicals industry, the automotive industry has also been a creating significant revenue generation opportunities for manufacturers of petroleum liquid feedstock.

“With a dramatically expanding vehicular fleet and the subsequent demand growth in motor fuels and gasoline, it is most likely that the consumption of petroleum liquid feedstock would experience high growth over upcoming years,” states a senior market research analyst at FMI.

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Key Manufacturers Enlarging Naphtha Production Capacities

Refinery processes tend to produce higher proportions of naphtha compared to that of gas oil, which enables the former to retain top ranking segment in the market on the basis of type of petroleum liquid feedstock.

Naphtha consumption currently accounts for a whopping 91% share in the global petroleum liquid feedstock market value; the report however projects that gas oil would gradually emerge as an attractive segment over the years.

A majority of industry giants have been concentrating on increasing their naphtha production capacities by strategizing on production plants expansion across multiple geographical markets. Manufacturers based in Middle Eastern countries have been observed to have augmented their naphtha production recently.

However, with growing availability of low-priced substitutes for petroleum liquid feedstock such as propane and ethane, the naphtha space has been witnessing an oversupply scenario.

China Slated for Maximum Market Attractiveness in Coming Years

With more than 71% market value share held collectively, petroleum liquid feedstock market in China, Europe, and Asia Pacific (excluding Japan) are likely to demonstrate notable expansion over coming years. Considerable rise in the automotive production and sales across Europe, China, and other Asian economies remains a key driving force pushing the consumption of petroleum liquid feedstock across these regions.

China however is forecast to emerge as the most lucrative market for manufacturers of petroleum liquid feedstock, and the report estimates around 4% yearly growth in China’s market value, in 2019. Moreover, Asian market for petroleum liquid feedstock still continues to face consequences of a severe demand-supply gap that is likely to trigger increased export from Europe and present multiple business opportunities for leading manufacturing companies.

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Fragmented Market Landscape to Witness a Growing Focus on Capacity Expansion

In a fairly fragmented competitive landscape of the global petroleum liquid feedstock market, the Tier 1 players account a mere revenue share of 25-35%.

Prominent companies such as TOTAL S.A., BP p.l.c, Royal Dutch Shell plc, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, and China National Petroleum Corporation continue to remain top performers.

The report indicates that a majority of Tier 1 players are currently focusing on petroleum liquid feedstock production expansion, in addition to the integration of the production of other end products with that of petroleum liquid feedstock.

Whereas, the Tier 2 companies, including Idemitsu Kosan Co. Ltd., Flint Hills Resources, and YPF, and other smaller local players collectively hold the lion’s share in the market in terms of revenue.

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Extensively utilized as insulating media in switchgears, gas insulated lines, transformers, and other high voltage transmission units, dielectric gases continue to witness significant demand owing to consistently surging electricity consumption worldwide. Future Market Insights, in a new research report on the global dielectric gases market, forecasts a robust revenue growth outlook for market over upcoming years. The dielectric gases marketplace will however reportedly remain a high growth-low value landscape, as indicated by the report.

Regional outlook analysis of the global dielectric gases market reveals dominance of European landscape owing to a strong manufacturing base created by a majority of leading global brands in the dielectric gases landscape. Asia Pacific, with a current market value share of over 55%, is however projected to reflect a highly lucrative growth outlook for penetration of dielectric gases in coming years, as indicated by the report.

Growth of Residential & Commercial Sectors Favoring Dielectric Gases Market

The rapidly thriving industrial sector that roughly consumes around 55% of the total generated electricity is slated to create multiple investment opportunities for suppliers of dielectric gases. Soaring demand for medium voltage substations to cater to a growing number of IT establishments, telecom organizations, manufacturing verticals, and data storage banks is foreseen to present attractive windows of opportunities to dielectric gas manufacturers at a global level.

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Expanding residential and commercial construction sectors and subsequently rising installations of IT & telecommunication infrastructure, HVAC units, office equipment, and a wide range of civic utilities are accounting for surging per unit consumption of electricity. This is reportedly driving consumption of dielectric gases at a global level, as a majority of application areas continue to opt for dielectric gases as a preferred insulating medium over others.

Critical Demand for SF6 Substitutes to Create Opportunities for Fluoroketones & Fluoronitriles

Among dry air, SF6, nitrogen, fluoroketones, and fluoronitriles, consumption of SF6 currently accounts for maximum share in the global revenue represented by dielectric gases market. “Although SF6 is slated to remain the largest market shareholder in coming years owing to superior functional attributes, the fact that it is one of the key greenhouse gases and has substantial atmospheric lifetime as well as the global warming potential is making room for potential alternatives to SF6, which are relatively less popular in the dielectric gases landscape,” says a senior research analyst at the company.Fluoroketones and fluoronitriles are thus projected to encounter high adoption opportunities in the near future, says the report.

Leading manufacturers of dielectric gases are currently concentrating on R&D of SF substitutes. 3M, pioneering the way, has already been working on the development of an alternative SF6 technology. Though the substitute technology by 3M is currently in the pipeline and is likely to take time for complete commercialization, the dielectric gases market is foreseen to witness more such developments in coming years – creating a new trend wave in global dielectric gases space.

3M Company has been working in collaboration with ABB and GE, for the development of this product, i.e. Novec. The collaborative effort led to introduction of a high potential alternative to SF6 technology, in addition to technology exchange that has added value to the global landscape.

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Besides 3M Company, General Electric Company, and ABB Inc., the report profiles several other prominent companies competing in global marketplace. Some of the players covered in report include Solvay S.A., Messer Group, The Linde Group, SHOWA DENKO K.K., Matheson Tri-Gas, Inc., Kanto Denka Kogyo Co., Ltd., and KPL International Limited.

With surging industrial safety concerns and frequently evolving safety regulatory guidelines, fire trucks continue to witness significant technological innovation. To cater to stringent norms set by the US NFPA (National Fire Protection Association) and other government affiliated entities, manufacturers of fire trucks are focusing on equipment upgrade – translating into demand growth in the fire trucks market.

Below 4% Y-o-Y Forecast for Fire Trucks Market Revenue in 2019

The global fire trucks market has been witnessing emergence of specialized fire trucks in recent past, which is foreseen to be an important factor contributing to market growth. However, the approximately US$ 5 billion global landscape of fire trucks is projected for a sluggish below 4% yearly growth rate in 2019 and ahead. A new market intelligence on global fire trucks landscape forecasts a passive growth outlook for the market. High initial capital and relatively low penetration rate are prominently posing a challenge to the market growth, as indicated by the report.

A senior market research analyst adds further, “Even though the fleets of fire trucks are aging, they are not being replaced by the new ones at a considerable pace. While this is straightaway hampering the sales of new fire trucks, the entire scenario ultimately results in limiting the revenue growth of global fire trucks market. This is foreseen to be the situation in the long run, if the same continues over coming years”.

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Improving Scope of Rescue Fire Trucks to Uplift Market in Developing Regions

Developing regional markets, experiencing dramatic advancements in construction and infrastructure industries, are compelling various governmental and non-governmental bodies to impose strict regulatory and administrative codes. This, according to the report, will remain the key factor propelling demand for fire trucks across emerging economies, in coming years. 

More than 55% sale of fire trucks is accounted by adoption for residential and commercial end use applications, followed by that in enterprises and airports. While the rampant expansion of construction industry is cited responsible for catering to the demand for fire trucks in residential and commercial sectors, developed regional markets are presumably driven by consistently progressing interest in adoption of the cutting edge technologies enabled fire mechanical assemblies and equipment. The report thus highlights relatively high rate of fire trucks purchase across economies such as the US, UK, France, and others in North America and Europe.

While Europe and North America remains the global manufacturing and operational hubs for key manufacturers of fire trucks, the report projects a strong possibility of developing regions serving significantly in reshaping the entire competitive scenario of fire trucks market. A large number of SMEs in the fire trucks space are rapidly shifting their manufacturing bases to progressing economies - including China, India, Russia, Brazil, and ASEAN countries, to capitalize on the inexpensive labor costs and lucrative opportunities arising in the residential and commercial segments. The report says that over the next few years, Latin American market for fire trucks is likely to witness emergence of Brazil and ROW as production hubs for fire truck manufacturers.

The demand for rescue fire trucks is slated to sustain in airports to cater to soaring terminal security demands. Research also points to sustained sales of ARFF (aircraft rescue firefighting) vehicles for rescue operations at airport terminals. With a significant upsurge in air traffic and a considerably increasing number of airlines as a global level, it is more likely that the fire trucks demand at airports would be sustained over coming years.

Over 50% Market Value Share Belongs to Seven Leading Players

The top seven players in fire trucks marketplace account for more than half of the total market value, as indicated by research. The prominent companies competing in this fairly consolidated landscape are investing in strategic acquisitions and collaborations in an effort to reaffirm their market positioning.

Long-term contractual deals for reliable supply of specialized fire trucks are likely to strengthen strategic relationship between market leaders and key distributers. Expanding existing fire trucks portfolio, with maintaining the focus on novel technological innovations, leading manufacturers and suppliers of fire trucks that are actively operating across the global value chain are projected to prioritize fire trucks and equipment upgrade.

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Although pumpers and tankers contribute majorly to total sales of fire trucks at present, the report indicates growing demand for aerial platform fire trucks and rescue fire trucks – likely to shape competitive manufacturing strategies of key manufacturers in the market. In the backdrop of the rate of natural calamities occurred in recent past, it is more likely that rescue fire trucks would experience growing demand.

Increasing shifts of global automobile manufacturers toward imparting a number of automated features into vehicles has led to many developments automation of vehicles. Manual window regulators being replaced by automated ones has become a common sight in current automotive world. Global sales of automotive window regulators will reach 454,325 thousand units in 2017, according to a report by Future Market Insights (FMI). FMI’s report estimates the global automotive window regulator market to register 3.3% CAGR in terms of volume, to surpass 600,000 thousand units in sales by 2027-end.

APEJ will Remain Largest Market for Automotive Window Regulators

In terms of volume, Asia Pacific Excluding Japan (APEJ) is projected to remain the largest market for automotive window regulator, expanding at 4.4% CAGR during the forecast period. Sales of automotive window regulator in APEJ will reach 211,633 thousand units in 2017; by 2027 this number is estimated to surpass 300,000 thousand units. In addition, Middle East & Africa (MEA) is expected to be second-most lucrative region in the market by 2027-end. MEA market for automotive window regulator is projected to exhibit 4.3% CAGR through 2027.

OEM will remain the preferred sales channel in the market, in terms of volume. Global sales of automotive window regulator through OEM is estimated to reach nearly 500,000 units by 2027-end. In terms of volume, OEM and Aftermarket sales channels are projected to witness parallel expansion at 3.3% CAGR during the forecast period. Aftermarket sales channel is expected to hold low market share by 2027. This is primarily attributed to low breakdown rate, replacement rate and consumer preference to stick to default automotive window regulator present in the vehicle.

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Passenger Cars to Exhibit Highest Demand for Automotive Window Regulators by 2027-end

Adoption of automotive window regulator is expected to remain highest in passenger cars, based on vehicle type. Demand for automotive window regulator in passenger cars is expected to reach 530,539 thousand units by 2027-end. In contrast, HCVs are estimated to exhibit lowest demand for automated window regulator during the forecast period. By construction, cable type automated window regulators will remain preferred in the market. In terms of volume, demand for double rail cable is projected to grow at 3.9% CAGR through 2027.

On the basis of product type, automated window regulators will remain dominant in the market, with their sales projected to exceed 500,000 thousand units by 2027-end. This is attributed to functionality and lightweight characteristics offered by automated window regulators. In contrast, manual window regulators will witness a sluggish growth in sales during the forecast period. Frequent wear & tear off and complex structure of manual window regulators will impede their demand growth.

Increasing Demand for Personal Vehicles to Sustain Market Growth in APEJ

India and China are prominent markets for car manufacturers owing to growing population and increasing need for personal vehicles. In addition, many banks and financial institutes are offering various loan schemes, making it easy for people to own a car. These factors are expected to sustain market growth in APEJ. In contrast, people in this region are shifting toward power window regulator, owing to their better functionality. This is estimated to restrain growth of the market in APEJ.

Demand for aftermarket is witnessing a surge in MEA, owing to absence of manufacturing plants in this region. GCC countries import cars form other regions for sale. Increasing consumer dependence on aftermarket is projected to fuel market growth in MEA. In contrast, factors such as political unrest and sluggish demand for automotive industry are expected to impede market growth in MEA during the forecast period.

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Key market players identified in FMI’s report include Brose Fahrzeugteile GmbH & Co.KG, Grupo Antolin Irausa S.A., Hi-Lex Corporation, Imasen Electric Industrial Co. Ltd., Valeo SA, Magna International Inc., Shiroki Corporation, Robert Bosch GmbH, Kongsberg Automotive, Castellon Automotive SA, Johnan Manufacturing Inc., KÜSTER Holding GmbH, IFB Automotive Pvt. Ltd., Aditya Auto and Engineering Pvt. Ltd., Kwangjin Sang Gong Co. Ltd., Futuris Group of Companies.

Frontiers of nanotechnology continue to span across the globe and among diversified industrial verticals. Nanoparticles of various elements are gaining competence as crucial industrial constituents, and are witnessing a considerable rise in their applications. Future Market Insights’ recent study explores the market for nanoparticles of metals and metal oxides, and projects that application of such nanoparticles will gain traction duet to their ground-breaking properties.

According to Future Market Insights,

• High physical, chemical and surface properties of metal and metal oxide nanoparticles will fuel their applicability as effective bulk materials

• Metal and metal oxide nanoparticles will also play an instrumental role in manufacturing of innovative products offered in the global consumer electronics industry

• Versatile applicability of metal and metal oxide nanoparticles will also witness higher adoption for drugmakers and medical device manufacturers

According to the report, titled “Metal & Metal Oxide Nanoparticles Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” the demand for metal nanoparticles is projected to remain significantly higher than that of metal oxide nanoparticles. The global market for metal nanoparticles is presently valued at US$ 13.7 Bn, and will soar at 13.9% CAGR to surpass US$ 50 Bn mark by the end of 2026. During this ten-year forecast period, the US$ 1.8 Bn global market for metal oxide nanoparticle will also surge robustly at 10.4% CAGR, and will procure over US$ 5 Bn revenues towards the end of period. This clearly indicates that by the end of 2026, the global metal nanoparticles market will be worth ten times the projected value for global metal oxide nanoparticles market. Collectively, the global market for metal and metal oxide nanoparticles are bound to soar at more than 10% CAGR throughout the forecast period.

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The report reveals that the demand for metal and metal oxide nanoparticles will remain considerably high in three regions – North America, Western Europe and the Asia-Pacific excluding Japan region. Towards the end of 2026, North America will dominate the global metal nanoparticles market with 30% share, while Europe will be at the forefront of global metal oxide nanoparticles market. Companies such as Meliorum Technologies, Inc., Nanostructured & Amorphous Materials Inc., American Elements, SHOWA DENKO KK, and Tekna Systemes Plasma Inc. are recognised as key manufacturers of metal and metal oxide nanoparticles in the world. Other leading participants in the global metal and metal oxide nanoparticles market include US Research & Nanomaterials Inc., Nanoshel LLC, Nanophase Technologies Corporation, Sigma-Aldrich Co. LLC and NanoComposix Inc.

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The report further reveals that personal care & cosmetics industry will remain as the most lucrative end-user of metal and metal oxide nanoparticles. With over one-third revenues share for both, metal and metal oxide nanoparticles, personal care & cosmetic applications will be demanding greater use of such materials. Moreover, the demand for metal nanoparticles will also be high in defence sector, while metal oxide nanoparticles will gain traction in production of electrical and electronic products. Based on research findings, the report also estimates that by the end of 2026, nearly 50% of global metal nanoparticle revenues will be accounted by sales of iron nanoparticles. On the other hand, global revenues emanating from sales of zinc oxide nanoparticles will surge at 11% CAGR.

Multiple manufacturing processes adopted across diverse industrial verticals are all contingent upon efficiency of engineering equipment & systems. The need to improve operability of such systems can be met with the use of gaskets & seals – devices that help connect multiple surfaces & systems to complete a mechanical workflow. Apropos a latest report published by Future Market Insights, the global demand for gaskets & seals is projected to surge at a steady rate during the forecast period 2016-2026. The report estimates that in 2016, more than US$ 60 Bn worth of gasket & seals were sold across the globe. Key projections compiled in the report predict that global gaskets & seals revenues will surpass US$ 100 Bn by the end of 2026, registering a value CAGR of 5.4%.

The report, titled “Gaskets and Seals Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” further projects that in 2017 and beyond, the demand for non-metallic gaskets & seals will be considerably higher than metallic materials. By the end of 2026, more than 60% of global revenues will be accounted by sales of non-metallic gaskets & seals. Non-metallic materials will remain in great demand due to their competitive advantage over metallic materials on the grounds on environmental imprint and cost-effective procurement.

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The report has also compiled key factors impacting the growth of global gaskets & seals market during the forecast period, which follow:

• Rising instances of leakage in industrial units that cause considerable loss in terms of property damage & health risks can be averted by use of gaskets & seals

• The demand for gaskets & seals is also expected to rise on the account of their compliance with several strict regulations, that prompt minimisation of leakage & fugitive emissions, observed across the globe

• Advent of 3D printing is likely to lower costs of manufacturing gaskets & seals, and will also facilitate the urgency to deliver customised products

• Key challenges inhibiting the market’s growth during the forecast period are complex manufacturing processes, altering designs and limited material applicability for production of gaskets & seals

Nevertheless, the report expects that customisations made to existing gasket & seal products will hold lucrative opportunity for manufacturers in the years to come. Companies such as Freudenberg & Co. KG, Henniges Automotive Holdings Inc., SKF AB, Federal-Mogul Holdings Corporation, Smiths Group Inc. (John Crane), ElringKlinger AB, Trelleborg AB, Dana Incorporated, Banco Products (I) Ltd. and Parker Hannifin Corp. are observed as key manufacturers in global market for gaskets & seals.

A comparative forecast on the global sales of gaskets and seals during the forecast period projects that global demand for seals will remain fairly higher than that of gaskets. By the end of 2026, solid and spiral wound gaskets will be observed as top-selling products in the market, procuring more than US$ 25 Bn in global revenues. On the other hand, a majority of global sales of seals will dominated by dynamic seals. Static seals are projected to procure just over 42% share on global seals revenues through 2026-end.

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The report further reveals that automotive industry will be one of the largest end-user of gaskets & seals in the world. However, the imprint of automotive end-use on the global gaskets & seals market will witness a downtrend, while revenues accounted by machinery and electronics & electrical industries during the forecast period will register 5.5% and 5.6% CAGRs respectively. Key findings in the report also predict that more by the end of 2026, more than three-fourth of gaskets & seals revenues will be accounted by OEM sales channels. The report also expects Asia-Pacific excluding Japan region to dominate global gaskets & seals revenues by registering a value CAGR of 6.8% and brining in over US$ 43 Bn revenues by 2026-end. Other regions are expected to showcase a sluggish growth in terms of gaskets & seals sales, exhibiting CAGRs below 5%. 

Frontiers of nanotechnology continue to span across the globe and among diversified industrial verticals. Nanoparticles of various elements are gaining competence as crucial industrial constituents, and are witnessing a considerable rise in their applications. Future Market Insights’ recent study explores the market for nanoparticles of metals and metal oxides, and projects that application of such nanoparticles will gain traction duet to their ground-breaking properties.

Global Metal and Metal Oxide Nanoparticles : According to Future Market Insights,

• High physical, chemical and surface properties of metal and metal oxide nanoparticles will fuel their applicability as effective bulk materials
• Metal and metal oxide nanoparticles will also play an instrumental role in manufacturing of innovative products offered in the global consumer electronics industry
• Versatile applicability of metal and metal oxide nanoparticles will also witness higher adoption for drugmakers and medical device manufacturers

According to the report, titled “Metal & Metal Oxide Nanoparticles Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” the demand for metal nanoparticles is projected to remain significantly higher than that of metal oxide nanoparticles. The global market for metal nanoparticles is presently valued at US$ 13.7 Bn, and will soar at 13.9% CAGR to surpass US$ 50 Bn mark by the end of 2026. During this ten-year forecast period, the US$ 1.8 Bn global market for metal oxide nanoparticle will also surge robustly at 10.4% CAGR, and will procure over US$ 5 Bn revenues towards the end of period. This clearly indicates that by the end of 2026, the global metal nanoparticles market will be worth ten times the projected value for global metal oxide nanoparticles market. Collectively, the global market for metal and metal oxide nanoparticles are bound to soar at more than 10% CAGR throughout the forecast period.

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The report reveals that the demand for metal and metal oxide nanoparticles will remain considerably high in three regions – North America, Western Europe and the Asia-Pacific excluding Japan region. Towards the end of 2026, North America will dominate the global metal nanoparticles market with 30% share, while Europe will be at the forefront of global metal oxide nanoparticles market. Companies such as Meliorum Technologies, Inc., Nanostructured & Amorphous Materials Inc., American Elements, SHOWA DENKO KK, and Tekna Systemes Plasma Inc. are recognised as key manufacturers of metal and metal oxide nanoparticles in the world. Other leading participants in the global metal and metal oxide nanoparticles market include US Research & Nanomaterials Inc., Nanoshel LLC, Nanophase Technologies Corporation, Sigma-Aldrich Co. LLC and NanoComposix Inc.

The report further reveals that personal care & cosmetics industry will remain as the most lucrative end-user of metal and metal oxide nanoparticles. With over one-third revenues share for both, metal and metal oxide nanoparticles, personal care & cosmetic applications will be demanding greater use of such materials. Moreover, the demand for metal nanoparticles will also be high in defence sector, while metal oxide nanoparticles will gain traction in production of electrical and electronic products. Based on research findings, the report also estimates that by the end of 2026, nearly 50% of global metal nanoparticle revenues will be accounted by sales of iron nanoparticles. On the other hand, global revenues emanating from sales of zinc oxide nanoparticles will surge at 11% CAGR.

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Through innovative technologies, specific species of bamboos have gained applicability in production of beverages, which include popular drinks such as beers and teas. In Latin America, demand for bamboos is rising on the account of such breakthrough applications. Bamboos are no longer restrained to the image of being key resources and raw materials in paper-making and construction & building industry. Cultivation of bamboos is easy and quite profitable, grabbing the interests of agriculturists and farmers. Surplus availability of bamboos is promoting their use in such novel applications. Future Market Insights projects that towards the end of 2027, over 63,000 KT of bamboos will be sold across the globe, bringing in revenues worth over US$ 10 Bn.

According to the recently-published report, global market for bamboos is expected to be valued at US$ 3.6 Bn by the end of 2017. During the forecast period 2017-2027, the global bamboos market is projected to soar at a value CAGR of 10.6%. In terms of volume, the market is slated to record global sales of more than 24,000 KT by the end of 2017, and will reflect a 10.1% CAGR over the assessment period.

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Contribution of Asia-Pacific to Global Bamboo Market

China and India are expected to continue their dominance in the global bamboos market through 2027. These Asia-Pacific countries will continue to account for about 50% resources of bamboos and their species in the world. Consequently, Asia-Pacific is expected to be the largest bamboos market in the world, both in terms of value as well as volume. Over the forecast period, the Asia-Pacific bamboos market will reflect speedy growth at 11.8% CAGR. By the end of 2027, nearly three-fourth of global bamboo revenues will be accounted by the region.

New Applications of Bamboos = Unbounded Growth Opportunities

Owing to their abundance and versatility, bamboos and bamboo-based products are used for a wide range of indoor & outdoor applications. Being a highly renewable resources in every context, bamboos have more than 1,500 recorded uses. Food production, pulp and paper, wood substitute, handicrafts, cottage industries, medicinal products, and charcoal production are some prominent applications of bamboos that have influenced the market's rampant growth.

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The lightness, durability and tensile strength of bamboos have made them an excellent industrial raw material. Some companies are focusing towards manufacturing low-cost bicycles out of bamboos. However, expensive labour force in harvesting & procurement of bamboo is slated to restrain the market’s growth. Seasonal employment in primary processing of bamboos is also refraining manufacturers from capacity expansion. The basic application of bamboos – production of paper and pulp, however, continues to drive the global bamboo sales rapidly. By 2027, close to 48% of global bamboo market value will be accounted by end-use of bamboos in paper & pulp industry.

Majority of key players in the global bamboo market are based in Asia-Pacific region. These include companies such as Bamboo Village Company Limited, Kerala State Bamboo Corporation Ltd, Jiangxi Feiyu Industry Co. Ltd., ANJI TIANZHEN BAMBOO FLOORING CO. LTD, Dasso Industrial Group Co., Ltd, Xingli Bamboo Products Company, China Bambro Textile Company Limited, Bamboo Bio Composites Sdn Bhd, Fujian Jianou Huayu Bamboo Industry Co., Ltd., Jiangxi Shanyou Industry Co. Ltd., Tengda Bamboo-Wood Co., Ltd., and Jiangxi Kangda Bamboo Ware Group Co., Ltd. Other prominent market participants include Teragren LLC, Moso International B.V., Bamboo Australia Pty Ltd., EcoPlanet Bamboo, Smith & Fong Co Inc., Southern Bamboo Inc., and Higuera Hardwoods LLC..

Bamboos Market 

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In a recently released research intelligence outlook, Future Market Insights forecasts high value-low growth landscape for the global petroleum liquid feedstock market over the course of next few years. The global revenue through consumption of petroleum liquid feedstock will reportedly reach around US$ 270 billion in 2019, demonstrating an estimated yearly revenue growth of 3.6% over that attained in 2018.

A steady upsurge in the demand for petroleum liquid feedstock is expected in coming years owing to a positive expansion outlook reflected by the global petrochemicals industry.

Growing Feedstock Applications in Chemicals & Automotive Industries

Mounting consumption of motor fuels and other prominently sold end products such as aromatics, olefins, solvents, and gasoline is primarily driving the revenue of petroleum liquid feedstock at a global level. Applications in aromatics currently account for over 50% revenue share, whereas olefins are positioned by the report as an attractive segment in petroleum liquid feedstock landscape.

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With soaring uptake of aromatics by chemicals industry stakeholders, it is most likely that the demand for petroleum liquid feedstock, the key component used during the manufacturing of aromatics, will also witness a strong hike in the near future. Besides chemicals industry, the automotive industry has also been a creating significant revenue generation opportunities for manufacturers of petroleum liquid feedstock.

“With a dramatically expanding vehicular fleet and the subsequent demand growth in motor fuels and gasoline, it is most likely that the consumption of petroleum liquid feedstock would experience high growth over upcoming years,” states a senior market research analyst at FMI.

Key Manufacturers Enlarging Naphtha Production Capacities

Refinery processes tend to produce higher proportions of naphtha compared to that of gas oil, which enables the former to retain top ranking segment in the market on the basis of type of petroleum liquid feedstock.

Naphtha consumption currently accounts for a whopping 91% share in the global petroleum liquid feedstock market value; the report however projects that gas oil would gradually emerge as an attractive segment over the years.

A majority of industry giants have been concentrating on increasing their naphtha production capacities by strategizing on production plants expansion across multiple geographical markets. Manufacturers based in Middle Eastern countries have been observed to have augmented their naphtha production recently.

However, with growing availability of low-priced substitutes for petroleum liquid feedstock such as propane and ethane, the naphtha space has been witnessing an oversupply scenario.

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China Slated for Maximum Market Attractiveness in Coming Years

With more than 71% market value share held collectively, petroleum liquid feedstock market in China, Europe, and Asia Pacific (excluding Japan) are likely to demonstrate notable expansion over coming years. Considerable rise in the automotive production and sales across Europe, China, and other Asian economies remains a key driving force pushing the consumption of petroleum liquid feedstock across these regions.

China however is forecast to emerge as the most lucrative market for manufacturers of petroleum liquid feedstock, and the report estimates around 4% yearly growth in China’s market value, in 2019. Moreover, Asian market for petroleum liquid feedstock still continues to face consequences of a severe demand-supply gap that is likely to trigger increased export from Europe and present multiple business opportunities for leading manufacturing companies.

Fragmented Market Landscape to Witness a Growing Focus on Capacity Expansion

In a fairly fragmented competitive landscape of the global petroleum liquid feedstock market, the Tier 1 players account a mere revenue share of 25-35%.

Prominent companies such as TOTAL S.A., BP p.l.c, Royal Dutch Shell plc, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, and China National Petroleum Corporation continue to remain top performers.

The report indicates that a majority of Tier 1 players are currently focusing on petroleum liquid feedstock production expansion, in addition to the integration of the production of other end products with that of petroleum liquid feedstock.

Whereas, the Tier 2 companies, including Idemitsu Kosan Co. Ltd., Flint Hills Resources, and YPF, and other smaller local players collectively hold the lion’s share in the market in terms of revenue.

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