Global Castor Oil Derivative Market to Witness CAGR of ~4.5% Increase in Value Share During the Forecast Period 2018-2026

• Nearly 40% market revenue share belong to India, followed by Europe.
• Grade II castor oil derivatives represent the largest value share of around 45% in the market, consumption of sebacic acid remains spectacular especially by nylon and other end use segments.
• Industrial consumption of castor oil and derivatives accounts for a roughly 75% share of the market revenue.

The key insights are drawn from the latest intelligence report publication of Persistence Market Research. The report forecasts global revenue through the sales of castor oil and derivatives to attain the value of around US$ 1.2 billion in 2020. Reaching the peak of its yearly revenue growth estimation, the market is projected at 4.7% Y-o-Y growth in 2019.

“High crop yield and oil content account for the suitability of castor as a bio-based crop, boosting new growth opportunities in the biodiesel sector – without the need for shifting important food crops. However, price volatility continues to influence the castor supply chain resulting in considerable supply-demand imbalance,” explains a senior market research analyst at the company.

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Adding to it further, the analyst says, “The pricing pressure imposed by unconventional renewables remains a longstanding limiting factor impacting the supply chain of castor oil and derivatives market”.

Biopolymers Are Gathering Momentum

On the backdrop of rapidly depleting natural resources, hiking petroleum product prices, and a shifting focus on the usage of bio-based fuels, castor oil as an efficient biofuel displays superior productivity.

While the reduced carbon footprint is trending across industries, it is most likely that castor oil and derivatives will witness promising demand in various industrial verticals in the near future.

Owing to the ability of castor oil to entirely replace synthetic feedstock with bio-based products, castor oil is extensively used in some other commercial segments such as paints, fluids, resins, and cosmetics. Although pharmaceuticals have been registering remarkable consumption volumes of castor oils and derivatives, the beauty and personal care segment also has been an important consumer of the market.

The report indicates that pharmaceuticals and lubricants currently hold a cumulative revenue share of more than 40%. However, adoption of castor oil and derivatives in lubricants, biopolymers, and personal care products is projected to be on a higher side in coming years.

In addition to growing biopolymer adoption, the growing consumer preference for organic and natural ingredients in personal care and cosmetic products is cited as an important factor driving the revenue of castor oil and derivatives space.

India Remains Global Production Giant

Being the largest castor producer and castor oil exporter making up for more than 90% share of the global production volume, India’s castor oil and derivatives market is likely to surpass the revenue worth US$ 400 million in 2020. Government initiatives are prominently boosting the market scenario in India in recent years.

Europe, China, Japan, and ASEAN countries constitute the key trading partners of India over castor oil and derivatives. China however accounts for a roughly 30% share of India’s total export of castor oil and derivatives.

Besides swelling consumption in pharmaceuticals, Chinese market is projected to be favored by growing castor oil consumption by manufacturers of automotive biopolymers, lubricants, and paints. Southeast Asia is also identified to hold a considerable market value share, says the report.

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Key Market Competitors Are Going Online

As India represent the only key market for castor oil and derivatives production, the global landscape is likely to remain strongly consolidated, as indicated by the report. The top 5-6 market players account for the lion’s share in the global value and volume. Besides production capacity expansion, prominent companies in the global landscape are focusing on strategic acquisitions and collaborations for an enhanced market share.

As far as innovation of castor oil derivatives is considered, a few regional players are strategizing the launch of innovative grades of castor oil derivatives. Capturing the growing Ecommerce trend, several Indian manufacturers of castor oil and derivatives are striving for enhanced regional and global sales through E-tail by associating with online distribution channels.

The global castor oil and derivatives market report exhaustively analyzes some of the most prominent companies competing in the landscape. While the profiled players include The Castor Oil Industries Ltd, Arvalli Castor Derivatives Pvt. Ltd, Ambuja Solvex Pvt Ltd, Jayant Agro Organics, Royal Castor Products Limited, Adani Group, Gokul Overseas, and a few others.

Global China Plastic Pipe Market to Witness CAGR of ~7% Increase in Value Share During the Forecast Period 2019-2029

Plastic pipe sales in China reached 2 million tons in 2018, which are expected to be rising at a strong CAGR of 7% during 2019 - 2029. As revealed by a new research study of Persistence Market Research (PMR), China plastic pipes market will prominently thrive on the back of accelerated demand from the construction industry, particularly the residential sector.

Government’s efforts in wastewater management and water conservation are contributing significantly to the build-up of China plastic pipes market. Rainwater and storm water systems are expected to exhibit strong growth prospects with the Sponge City initiative and other rainwater harvesting projects initiated by regional administrative bodies and municipality councils.

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Key Takeaways – China Plastic Pipes Market Study

• Light weight, superior adaptability, and pliant structure of plastic pipes continue to uplift their preference over metal and other counterparts, in applications ranging from solid and liquid waste handling to HVAC systems. 
• Exponential growth of construction industry, owing to significant rise in smart cities, Special Economic Zones (SEZs) and manufacturing industries, has been driving the demand for plastic pipes in the country.
• Elevated demand for plastic pipes in water transfer applications such as plumbing and water management systems is expected to account for the rising opportunistic potential of liquid conduits, compared to other types of transmission medium.
• Presence of a large number of players in the market has been driving manufacturers to develop low-cost yet high quality products to maintain their market hold
• Polyvinyl chloride (PVC) and polyethylene (PE) pipes are anticipated to dominate the sales by material type.

Leading manufacturers of plastic pipes based in China primarily focus on strengthening their sales network across the provinces to better market penetration throughout the country. The emergence of the new manufacturers has caused considerable reduction product costs, subsequently leading to improved availability of high-quality plastic pipes across China.

Sales Soar Despite the Unsustainability Buzz around Plastics

China accounts for a fourth of global plastic production which reflects the abundance of availability of raw material and the subsequent ease in procurement of the same. This has been the predominant factor establishing a strong base for plastic pipes market in China.

Despite serious environmental concerns surrounding the use of plastics, it has been observed that plastic remains a preferred choice among pipe manufacturers owing to its light weight and cost efficiency in comparison with other popular choices. Pipes manufactured from non-plastic materials are expensive more prone to leakage. However, biodegradability and recyclability will remain a major concern accounting for serious regulatory implications associated with plastic pipes. Manufacturers are thus innovating with sustainable plastic types such as polyethylene (PE) and high density polyethylene (HDPE).

High Quality and Durability Remain Sought-after Features

Plastic products are considered as long lasting and completely durable which can serve the purpose of transmission for a long period of time. The plastic pipes are inert and are less likely to react to damp and moist conditions. Furthermore, the extensive corrosion resistance and chemical resistance also complements and enhances the serving life of the pipes.

Additionally, plastic pipes are more preferred for the underwater sewer works and concealed piping assembly in the buildings as they provide long service life and are less susceptible for replacement and repairs, thus, making the plastic pipes assembly a maintenance free system causing a noteworthy reduction in the entire assembly cost. These features are expected to spur the growth of the China plastic pipes market.

China Plastic Pipes Market: Vendor Insights

The report uncovers valuable insights on the competitive scenario of China’s plastic pipes market, emphasizing various developmental strategies of leading market players. Some key players in the market are Na Ya Plastics Corp., China Lesso Group Holdings Ltd.,   GF Piping Systems Ltd.,   Rehau, Hebei Dingsu plastic Sales Co., Ltd., and Kunshan Pinhong Rubber & Plastic Co., Ltd. Prominent companies in plastic pipes market are investing significantly in R&D of sustainable plastics. Product innovation strategies of major players are centered around the demands of the thriving residential sector.

As indicated by the study, leading players in China plastic pipes market are focused on manufacturing of products with affordable pricing in order to attract customers towards the products. Through extensive R&D, companies are trying to find an alternative manufacturing procedure which can cut off the operational cost without compromising on the quality of products. This in turn gives impetus to the China plastic pipes market.

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The central and West China are expected to be the most lucrative markets in terms of growth potential. The market for plastic pipes in China has witnessed exponential growth over the recent past, with nearly 3,000 small-scale and regional manufacturers. These pipe manufacturers have their setups in diverse provinces and continue to strive for customer base that is unique and exclusive to their brands.

This study highlights key opportunities in China’s plastic pipes market and finds that the market would exhibit growth at a healthy CAGR during the 10-year forecast period

Global Professional Portable Battery After Market to Witness CAGR of ~10.1% Increase in Value Share During the Forecast Period 2018–2026

While several end-use industries including healthcare, residential, commercial, automotive, and manufacturing, showcase significant adoption of professional portable batteries, given the introduction of wireless and portable devices arising from technological advancements, the overall safety and security devices landscape is estimated to boost the aftermarket sales of professional portable batteries. Stringency in regulation making it mandatory for organizations to use fire safety and security equipment in workplaces, will increase the demand for professional portable battery.

Persistence Market Research (PMR), in its recently published report on the global professional portable battery aftermarket, indicate lucrative opportunities for battery manufacturers operating in the aftermarket, considering the growing installed base of battery operated devices.

Representing a promising year-on-year growth of 9 percent in 2019, the valuation of global professional portable battery aftermarket is estimated to stand at a valuation of US$ 3.5 Billion, by the end of 2019. Between 2018 and 2026, the forecast period considered in the scope of study, the aftermarket sales of professional portable battery will grow at a stellar CAGR of 10.1 percent, reaching a revenue of US$ 6.9 Billion.

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Key Insights Drawn from PMR’s Survey on the Professional Portable Battery Aftermarket

• Approximately 95 percent respondents say that the aftermarket could prove to be a critical revenue stream for professional portable battery sales owing to increase in demand for wireless device.
• Europe is expected to hold approximately 20 percent share in the global portable battery aftermarket. The demand for professional portable batteries is estimated to grow at an approximate rate of 10 percent, in the next 5-10 years, attributable to increased sales of consumer electronics in the region.
• Respondents showed increased preference for Alkaline batteries, compared to Lithium-Ion batteries and Nickel-based batteries. However, Lithium Ion battery are expected to grow at a high rate growth rate in next 5 to 10 years, considering its long life span. Market study also indicates that Lithium Ion battery will hold 53 percent market share, expanding at a stellar growth rate.
• Increasing sales of wireless safety and security devices and use of portable devices in IT and supply chain management have emerged as the major factors driving the growth of professional portable battery aftermarket.
• Nearly 62.5 percent respondent adopted smart home solutions for increased family security.
• In terms of distribution channel, nearly 65 percent respondents say that the current distribution landscape is dominated by offline sales, while the other 35 percent believe that the online sales will capture the market.

“Apart from the factors mentioned above, increasing adoption of GPS devices in industrial sector, plunging prices of portable and wireless devices, robust growth of real estate and industrial sector, growing adoption of automotive safety systems, and increasing use of portable vital sign monitoring devices in homecare settings are some other crucial factors projected to impact the professional portable battery aftermarket. However, increasing penetration of counterfeit and private label products, in conjunction with emergence of wireless and battery-free tire pressure monitoring systems (TPMS) sensors are some critical dynamics expected to severely restrict the professional portable battery aftermarket growth”, explains a senior analyst.

PMR Tracks Competition in the Highly Consolidated Professional Portable Battery Aftermarket

The global professional portable battery aftermarket is significantly vast, with tier-1 players including Duracell, Energizer, Varta, and Panasonic dominating the landscape with a substantial share of approximately 60 to 68 percent. The tier-1 players, are likely to focus on expanding their distribution channels generating significant revenue from the aftermarket division On the other hand, tier-2 and tier-3 players account for a maximum market share of 19 percent or lesser, individually. The competition in developing markets is projected to remain high given the increasing demand for increasing demand for advanced technology and automated products in several end-use sectors. In developed regions, manufactures are likely to focus on retaining their existing consumer-base as competitors in the region are increasingly offering products at competitive pricing. 

To counter these, key differentiation strategies include:

Strategic Partnerships

Companies in the professional portable battery aftermarket are projected to enter into collaborations and acquisitions with several global and local market players to manufacture high-quality, customized, and technologically advanced products, thereby, creating significant expansion opportunities for manufacturers, at regional and global level. Focus on collaborating with local retailers and suppliers will remain high.

Product Portfolio Diversification

Batter-operated device manufacturers are making significant investments in research and development initiatives to gain from the availability of a diverse range of materials suited for a different applications. Companies are increasingly launching new products integrated with specialized technologies to diversify their product portfolios. New product development is mostly aimed at manufacturing light-weight, compact, and energy-efficient batteries.

Insights from the Segmentation Analysis

• On the basis of battery type, lithium ion battery is expected to secure a position in the high growth quadrant, while adoption of alkaline and nickel-based batteries are expected to represent a sluggish growth.
• In terms of application, residential and government sectors will report maximum aftermarket sales of professional portable batteries. The trend is likely to be witnessed in healthcare and automotive and transportation sectors too. Industrial equipment and automation is projected to demonstrate slow adoption of professional portable battery aftermarket.
• In terms of distribution channel, aftermarket sales of professional portable batteries through online channels will represent high growth rate through the forecast period, while offline sales will project steady growth rate.
• Regionally, North America is estimated to dominate the professional portable battery aftermarket throughout the forecast period, capturing a market share of approximately 26 percent. However, with nearly 25 percent market share, professional portable battery aftermarket in Europe, will witness significant growth, through 2026, given the expanding industrial sector in the region.
• China, being the largest manufacturer of electronic equipment and components across the globe arising from expansive presence of large number of manufacturers and production capacities, is expected to witness significant demand for professional portable battery aftermarket.

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For more quantitative insights on the regional analysis of professional portable battery aftermarket, in addition to other market dynamics impacting the growth of professional portable battery aftermarket, 

Global Mosquito Repellents Market is Anticipated to Register at a Healthy CAGR of ~8% During the Forecast Period 2018–2026

Environmental changes such as land-surface characteristics and variation in climate, along with increased anthropogenic activities comprising mining, deforestation, mining, and human mobility, have resulted in an increase in vector-borne diseases including dengue virus, Zika virus, and malaria, over the years—thereby driving the sales of mosquito repellents.

As per a recently published study on the global mosquito repellent market, by Persistence Market Research (PMR), developing economies are projected to exhibit high adoption of mosquito repellents, with APEC leading the suit. As per the report, APEC and China together account for approximately half the volume and value share—the demand further projected to grow at a significant CAGR.

Global sales of mosquito repellents is expected to generate a valuation of US$ 4 Billion, in 2019 and the global volume sales (in million units) is studied to increase 1.8x, standing at 54,406 Mn units, during the same period. The overall market for mosquito repellents is expected to expand a robust CAGR of 8 percent, in terms of value, through 2018-2026, considering:

• Governments of various regions in South East Asia, Sub-Saharan Africa and Latin America are making substantial investments in several vector-control strategies to bring down reported incidences of malaria.
• Manufacturers are focusing on developing effective and environment-friendly mosquito repelling products, aimed at preventing vector-borne diseases.
• Increased investments in research and development initiatives to discover natural materials for developing cost-effective advanced products, in addition to mosquito repellent products catering to indoor and outdoor demand.
• Stringency in regulation set by authorities such as European Environmental Agency, European Medicines Agency, and Environmental Protection Agency (EPA) to ensure consumer safety, will drive the demand for natural mosquito repellents having lesser concentration of active ingredients.

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APEC and China Continue to Witness Substantial Demand

With a market share of over 36 percent along a substantial incremental opportunity projection, APEC is likely to remain the most lucrative, revenue-generating pocket for mosquito repellents. India, after the rest of APEC, is projected to gain high basis points— expanding its market share further. In terms of overall incremental opportunity created over the forecast period of 2018-2026, India is expected to represent a share of approximately 50 percent. Other than India, countries, such as South Korea, Malaysia, Bangladesh, amongst others, are projected to witness significant growth in demand for mosquito repellent products, in the coming years. China, on the other hand, is projected to be positioned in the high volume and value growth quadrant, considering the increasing urban congestion in the region. Apart from the emerging markets, North America, followed by Europe, will observe moderate growth in the mosquito repellent market.

Opportunity Analysis: “PMR foresees significant growth opportunities in rural and developing markets, considering the widespread availability of non-branded mosquito repellents in India. Manufacturers are increasing their revenue share in low income developing regions by launching relatively cheaper and more effective products such as Good Knight Fast Cards, roll on, wipes by S.C. Johnson and Sons and Godrej Consumer Products Limited. These cards are available for 1 rupee each, burns instantly for 3 minutes, does not produce smoke, and can prevent mosquitoes up to 5 hours. In addition, cream-based mosquito repellents are expected to remain the most favored products, holding a market share of over 53 percent, in 2018. However, low toxicity and high repellent action will create significant market demand for vaporizers, in the coming years”, explains a senior analyst.

Bio-Based, Herbal Mosquito Repellent Formulations Gain Preference

Although N,N-Diethyl-3-methylbenzamide, also called DEET, provides protection against a range of insects, including mosquitoes, fleas, leeches, and ticks, several studies indicate its harmful effect on the human nervous system. Currently, accounting for a relatively small volume share in the global mosquito repellent market, the bio-based segment, by source, will expand at a promising CAGR of over 8.5 percent, retaining its position, in terms of growth, over the forecast period.

To counter the ill effects of synthetic mosquito repellent products, manufacturers are developing natural mosquito repellents which are as effective as synthetic mosquito repellents. For instance, some soy-based repellents are known to offer longer protection than low-concentration DEET products. Most mosquito repellents contain petroleum, parabens, phthalates among other synthetic chemicals, leading to skin allergies and reactions. Oil and Lamon Eucalyptus (OLE) is a plant based repellent which has been shown to have similar protection to lower concentration of DEET. Manufactures are also using natural repellent actives such as essential oils which present low toxicity, instead of chemicals to manufacture mosquito repellent.

Mosquito Repellent Market Showcases a Moderately Consolidated Landscape

Tier-1 manufacturers including Godrej consumer product Inc., 3M, S.C. Johnson and Sons, Spectrum Brands Inc., Reckitt Benckiser, Avon Products Inc. and Dabur India Ltd, hold approximately 50-60 percent of the total market share. The tier-1 players are have a diversified product portfolio and supply different forms and varieties of mosquito repellent for urban and rural regional areas. Tier-2 manufacturers of mosquito repellents, account for nearly 25-30 percent of the overall market—having a relatively smaller production capacity and limited regional presence. Tier-2 manufacturers include Coghlan, Omega, Jyothy Laboratories, Global Consumer Products Private Limited, and Avon Product Inc. Holding around 10-15 percent of the overall market, tier-3 players are the smaller domestic players, having limited product offering and regional presence. The core differentiation strategies include:

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• Long-term contracts with retailers to expand customer base.
• Diversify distribution channels domestically by launching innovative, cost-effective products such as flash cards, targeting rural consumer base.
• Significant emphasis on developing eco-friendly herbal mosquito repellents.
• Key companies are also establishing research and development plants to improve product quality and efficiency.

Global Tetrahydrofuran Market to Witness CAGR of ~7.8% Increase in Value Share During the Forecast Period 2018–2026

Extensively used as an intermediate raw material in the manufacturing of polytetramethylene ether glycol (PTMEG), tetrahydrofuran (THF) is witnessing an equally robust demand from synthetic textiles manufacturers. Asia Pacific remains the global hub for THF market, in terms of both value and volume.

According to a new market research intelligence report released by Persistence Market Research, the approximately US$ 1.5 billion tetrahydrofuran market is projected to display a roughly 7% growth in the global revenue in 2019. The consumption volume of THF is projected to reach over 780 KT towards the end of 2019, as indicated by the report.

“PMR expects the next five years to be crucial for the THF market and the global consumption volume to surpass 1,000 KT in 2023,” says a senior research analyst at the company, specialized in the industrial chemicals domain.

THF-derived PTMEG Continues to Attract Maximum Revenue

While around 70% of the total revenue is accounted by the applications of tetrahydrofuran in PTMEG manufacturing, the report projects that THF application as a solvent will remain the second largest revenue generator. The latter is prominently driven by PVC manufacturers, and industries producing and processing coatings and adhesives.

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Another strong factor spotted to propel THF consumption is sustained long-term contractual agreements of manufacturers with leaders in polymer and pharmaceutical industries, over the consistent supply of tetrahydrofuran.

Elaborating on the emerging scope of applicability of tetrahydrofuran, the analyst says, “THF-based PTMEG is clearly discovering a broadening spectrum of industrial applications, whereas our research discovers elevating demand for THF as a key industrial solvent for adhesives and coatings – pushing the revenue growth of solvents segment. The widening industrial applicability of THF as a resin solvent in PVC pipe cement is emerging as an important driver accelerating the tetrahydrofuran market performance”.

Spandex Manufacturers Continue to Consume Major THF Volumes

With a growing consumer inclination towards synthetic textiles such as spandex, the manufacturing of spandex is most likely to receive a boost across various end use applications, especially sportswear and specialty textiles. Massive investment in spandex manufacturing has been pushing the growth of tetrahydrofuran market in recent years.

Spandex, the most popularly used synthetic fiber for textile apparel, continues to witness dramatic adoption for improved material attributes - especially superior elasticity. Apart from comfortable clothing, growing consumption of spandex for medical related applications is likely to fuel the sales of tetrahydrofuran on a global level.

Asia Pacific Continues to Hold the Global THF Hub

In addition to the flourishing industrial horizon on the backdrop of expanding population, strong market presence of globally leading synthetic textiles manufacturers is likely to be responsible for global dominance of APEJ in the THF landscape. Nearly 60% share of the current revenue of tetrahydrofuran market belongs to APEJ, followed by Europe. The report expects that tetrahydrofuran manufacturers will experience a major push from India’s pharma space and China’s large scale spandex manufacturing landscape.

Robust polymer industry growth across Asian economies, particularly China and India, plays a vital role in encouraging growing THF volumes consumed as a solvent for industrial applications across the region.

The report however points to a strong possibility of the market encountering the challenge due to oversupply of THF, predominantly attributed to the low price point affordable for stakeholders across developing economies. “Although several leading players in tetrahydrofuran manufacturing landscape are accounting for a large capacity addition over recent past, THF consumption for PTMEG applications is likely to balance the overall supply-demand scenario in coming years,” says the analyst.

Green Chemistry Is Increasingly Demanding 2-MeTHF over THF

2-MeTHF holds the promise to provide a sustainable/green alternative as an industrial solvent, over conventionally popular but relatively non-sustainable solvents such as THF. 2-MeTHF is derived exclusively from renewable resources such as the likes of bagasse and corncobs, and thus reportedly offers a dual benefit - both in terms of sustainability and economic pricing.

A growing trend of using 2-MeTHF over conventional tetrahydrofuran is projected to witness prominence over coming years, indicates research. With the focus zooming in on the green chemistry, the tetrahydrofuran landscape is projected to witness emergence of bio-solvent alternatives such as 2MeTHF – eventually boosting revenue growth of THF space.

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Global Tetrahydrofuran Market Remains a Consolidated Landscape

The global THF market, being a highly consolidated landscape, continues to witness dominance by a few manufacturing leaders. Product innovations remains a key developmental strategy of competitors over coming years. Prominent THF suppliers serving spandex industries are likely to maintain their focus on the superior quality of tetrahydrofuran that plays a decisive role in the final quality and characteristics of spandex.

The global THF market report offers extensive company profiles and an insightful data drawn from the competitive strategic tracking analysis. PMR analysts have considered established as well as emerging players in the global landscape of tetrahydrofuran, a few of which include Dairen Chemical Corporation, Nan Ya Plastics, BASF, Ashland, INVISTA, Lyondellbasell, and SIPCHEM.

Global Non Pvc Plasticizers Market to Witness CAGR of ~3.9% Increase in Value Share During the Forecast Period 2018–2026

Persistence Market Research delivers vital insights on the global Non-PVC Plasticizers market in its latest report titled ‘Non-PVC Plasticizers market: Global Industry Analysis 2013–2017 and Forecast, 2018–2026’.The overall market of Non-PVC Plasticizers remains progressive with the market value likely to grow at a value CAGR of 3.9% over the forecast period (2018–2026).

Amongst the product types of Non-PVC Plasticizers, the benzoates segment is expected to register significant CAGR, in terms of value, over the forecast period. Amongst application segments of Non-PVC Plasticizers, the medical products segment is expected to gain substantial revenue share after witnessing significant CAGR, in terms of value, by 2026.

Rising healthcare spending, increasing R&D infrastructure, new product development for niche applications and penetration of new chemicals and solutions for the fabrication of medical products are some of the key factors creating demand space for Non-PVC Plasticizers.

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The global market for Non-PVC Plasticizers is estimated to create substantial incremental $ opportunity of US$ 414.3 Mn by the end of 2026. China is moving forward and will capture the top position in terms of both value & volume in the global plasticizer for non-PVC application market by 2018 end and is predicted to sustain its position during the forecast period in the Non-PVC Plasticizers market. Rapid expansion in healthcare, pharmaceutical & personal care industries are the key factors responsible for increased penetration of Non-PVC Plasticizers.

The Non-PVC Plasticizers market is pegged to record notable advancements in the coming years, particularly in China, North America, and Europe & South East Asia. Rubber, adhesive & sealants, healthcare, personal care and paints & coatings are the key end users in terms of non-PVC applications. Their expansion in near future will fuel the growth of the global Non-PVC Plasticizers market during the forecast period.

However, the global Non-PVC Plasticizers market will face certain hurdles. Phthalates are majorly used Non-PVC Plasticizers (phthalates occupy ~around 57% share in Non-PVC Plasticizers) in numerous applications. While phthalates offer several advantages, they also have certain negative effects on the environment as well as human health. Attributing to this, stringent regulations will restrict their use in various applications.

Major manufacturers are intensely working to introduce novel Non-PVC Plasticizers that fulfil all international regulations and certifications in order to enhance their presence in the Non-PVC Plasticizers market. These manufacturers are also focusing on increasing their end user base in Asia Pacific, which has led to a substantial surge in the consumption of Non-PVC Plasticizers. Participants have also been involved in emerging business model activities, such as mergers and acquisitions, to expand their market reach and cement their position in different regions.

Segmentation Analysis

• On the basis of product type, despite witnessing moderate growth, the phthalate segment is anticipated to dominate the Non-PVC Plasticizers market over the forecast period
• On the basis of sub-segments, HMW Phthalates captures almost one-fourth of the overall market share by value. HMW phthalates & LMW phthalates are the vital choices for numerous industrial applications in Non-PVC Plasticizers market owing to their better properties. For example, they impart flexibility & durability to the final product
• On the basis of application, Non-PVC Plasticizers are gaining considerable adoption in the medical products market, such as in gloves, bags and tubing. The segment is expected to expand and become 1.4X over the forecast period in the Non-PVC Plasticizers market. Tubing is expected to create maximum incremental $ opportunity by 2026

Regional Analysis

China & South East Asia Pacific, cumulatively, captured close to 43 % revenue share in the global Non-PVC Plasticizers market by the end of 2017. The US & Europe are the key regions having substantial production base for the synthesis of plastic products and thus, these regions are predicted to generate substantial growth opportunities in the global Non-PVC Plasticizers market.

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Vendor Insights

The report highlights some of the top companies operating in the global Non-PVC Plasticizers market, such as BASF SE, ExxonMobil Corporation, Eastman Chemical Company, LG Chem Ltd., Evonik Industries AG, Nan Ya Plastics Corporation, Ferro Corporation, Arkema Group, UPC Group, and Teknor Apex, Hanwha Chemical Co., Ltd. and others.

Global Fsru Market to Witness CAGR of ~8.7% Increase in Value Share During the Forecast Period 2018–2026

Persistence Market Research has rolled out a new market research report titled “FSRU (Floating Storage Regasification Unit) Market: Global Industry Analysis 2013–2017 and Forecast, 2018–2026”, which examines the FSRU (Floating Storage Regasification Unit) market and offers critical insights for the next eight years. Based on the findings specified in the global report, the projected value of the global FSRU (Floating Storage Regasification Unit) market in 2018 is US$ 1,217.9 Mn and the market is estimated to reach US$ 2,380.3 Mn by 2026 with a CAGR of 8.7%. The Global FSRU (Floating Storage Regasification Unit) market is projected to create an incremental $ opportunity worth US$ 1,162.4 Mn during the forecast period.   

FSRU (Floating Storage Regasification Unit) 40% more Cost Effective than Land-based Terminals

A Floating Gas Regasification Unit (FSRU) is used for the conversion of LNG (Liquid Natural Gas) gas into a liquid state, as in its gaseous state, LNG occupies more space as compared to its liquid state. FSRU (Floating Storage Regasification Units) are installed at onshore or offshore locations. Increasing production of LNG, coupled with growing LNG trade volumes based on the high demand from importing countries, is expected to drive the global FSRU (Floating Storage Regasification Unit) market during the forecast period. Moreover, a FSRU (Floating Storage Regasification Unit) required relatively less capital expenditure as compared to land-based terminals. Approximately, FSRU (Floating Storage Regasification Units) are 40% cheaper as compared to land-based terminals, which in turn drives the growth of the floating storage regasification market.

On the flip side, the storage capacity of FSRU (Floating Storage Regasification Units) is a major restraint to market growth. For example, the most commonly constructed size for FSRU (Floating Storage Regasification Units) has a storage capacity of 173,000 m3. Only a few have larger capacities and they are built on custom orders.

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Middle East & Africa to Grow with a Significant CAGR in the Global FSRU (Floating Storage Regasification Units) Market

By regasification capacity, the above 5.5 MTPA segment dominates the global FSRU (Floating Storage Regasification Units) market as of 2018 while the less than 2.5 MTPA segment is estimated to capture more than an 80% value share of the global FSRU (Floating Storage Regasification Unit) market by the end of 2026. Further, the 2.5- 5.5 MTPA segment is expected to create an incremental $ opportunity worth US$ 175.06 Mn between 2019 and 2018.

By storage capacity, the up to 140,000 m3 segment is expected to grow with a noteworthy CAGR in the FSRU (Floating Storage Regasification Unit) market during the forecast period. In terms of value share, the 140,000 to 180,000 m3 segment is expected to dominate the FSRU (Floating Storage Regasification Unit) market throughout the forecast period. Interestingly, the value share of this segment in the FSRU (Floating Storage Regasification Unit) market is expected to reach nearly 84.1% by the end of 2026.

By platform, the offshore terminal segment is expected to grow with a considerable CAGR in the global FSRU (Floating Storage Regasification Unit) market throughout the forecast period. But, in terms of value share, the inshore terminal segment is expected to account for a noteworthy value share in the global FSRU (Floating Storage Regasification Unit) market during the forecast period. Furthermore, the inshore terminal segment is projected to create an absolute $ opportunity 1.7X that of the offshore terminal segment in the FSRU (Floating Storage Regasification Unit) market during the assessment period.

By design, the carrier vessel based segment is expected to dominate the global FSRU (Floating Storage Regasification Storage Unit) market throughout the forecast period. The carrier vessel based segment is expected to be valued at US$ 941.2 Mn in 2018.

By region, the Middle East & Africa region is expected to grow with a significant CAGR in the global FSRU (Floating Storage Regasification Unit) market during the forecast period. It is expected to grow with a sizable value share throughout the slated time period. Asia Pacific is expected to reach US$ 560.8 Mn by the end of 2026. The Americas region is expected to grow with a sluggish growth rate in the global FSRU (Floating Storage Regasification Unit) market as compared to the other regions as the region is highly involved in the production of Liquid Natural Gas (LNG). Europe is also projected to grow with a moderate CAGR in the global FSRU (Floating Storage Regasification Unit) market during the forecast period, owing to the limited deployment of FSRU (Floating Storage Regasification Units) across Europe.

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Global FSRU (Floating Storage Regasification Unit) Market Competitive Landscape

Some of the prominent players involved in the chartering of FSRU (Floating Storage Regasification Unit) and included in this study on the FSRU (Floating Storage Regasification Unit) market are Citec Group Oy Ab, BW LPG Limited, Leif Höegh & Co, Exmar NV, Flex LNG Management AS, Excelerate Energy L.P., Keppel Offshore & Marine Ltd, PSA Marine (Pte) Ltd., Cosco Shipping International (Hong Kong) Co., Ltd., Gaztransport & Technigaz, Sener Group, Mitsui & Co., Ltd., Golar LNG Limited, Ochre Energy and NextDecade Corporation.

Global Tow Tractors Market research to Witness Significant Incremental Opportunity During 2019 - 2029

Tow Tractors Market: Introduction:

The tow tractors are the vehicles used for transporting the loads or goods at any work station or warehouse. It is used in distribution, warehousing and general material handling industries and used for towing and transportation of goods or products. The tow tractors can provide high efficiency and safety in order picking and horizontal transport operations for different type of loads including, un-palletized, palletized, or roller caged loads. The tow tractors are mostly used in small loading areas, steep ramps, narrow aisles, and for uneven surfaces to make the transportation of goods more easy and economical.

Furthermore, tow tractors can exponentially increase the productivity of a workspace and reduce the lead time and operational costs. It can also handle various loads ranging from light duty to heavy duty with more efficient and secure manner compared to forklifts. The tow tractors can be of various types including, pedestrian towing tractors, stand-in towing tractors and rider-seated towing tractors. The installation of tow tractors in a warehouse or distribution centers can provide increased efficiency & productivity, enhanced product safety, reduced labor requirement and reduced goods transportation time in the workstations.

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Tow Tractors Market: Dynamics:

The logistics and transportation industry is growing at a significant rate owing to, increasing number of warehouses, distribution centers etc. across the globe. Additionally, the growing trade of industrial and commercial products are projected increase the demand for transportation and storage facilities. These factors are expected to be one the prominent factors driving the demand for tow tractors at a significant rate over the forecast period. Furthermore, the tow tractors offers easy storage and optimized transportation operations in a warehouse or distribution center. To operate tow tractors a semi-skilled labor is required which can reduce the requirement of professional personnel.

Moreover, the increasing automation of storage facilities and warehouses is increasing at a significant rate in emerging countries. Also, the increasing labor costs in developing countries expected to create demand for tow tractors in the market. However, the high maintenance cost and initial investment of tow tractors anticipated to hamper the growth of tow tractors market over the forecast period.

Tow Tractors Market: Segmentation:

Tow tractors market can be segmented into product type, load capacity, power source, application and region.

On the basis of product type, global tow tractors market is segmented into:

• Pedestrian Towing Tractors
• Stand-In Towing Tractors
• Rider-Seated Towing Tractors

On the basis of load capacity, global tow tractors market is segmented into:

• Light-duty Tow Tractors
• Medium-duty Tow Tractors
• Heavy-duty Tow Tractors

On the basis of power source, global tow tractors market is segmented into:

• Electric
• Fuel

On the basis of application, global tow tractors market is segmented into:

• Railway Stations
• Airports
• Supermarket
• Industries
• Warehouses
• Others (Distribution Centers, Military Cargo Stations etc.)

Tow Tractors Market: Regional Outlook:

Growing awareness regarding workers safety, lowering the lead time, efficient operations, among other factors to significantly boost the growth of the North America tow tractors market over the forecast period. Europe is expected to account for a prominent share in the global tow tractors market owing to high labor costs and stringent government regulations for material handling by European Union.

Furthermore, the growing industrial and commercial sectors in Asia Pacific region projected to create demand for new warehouses, distribution centers, etc. This is expected to drive the tow tractors market in the region over the forecast period. The increasing number of warehouses and various end use industries in Middle East & Africa and Latin America driving the tow tractors market in the regions.

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Tow Tractors Market: Market Participants:

Some of the market participants in the global tow tractors market are:

• Jungheinrich AG
• Toyota Material Handling
• Bradshaw Electric Vehicles
• Polaris Industries, Inc.
• Hyster-Yale Group, Inc.
• Linde Material Handling
• Motrec International Inc.
• The Raymond Corporation
• JBT
• Alke'
• Godrej Material Handling
• Eagle Tugs
• Simai SPA
• SPAN Trading LLC.

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

Global Ship Radar Scanner Market research to Witness Significant Incremental Opportunity During 2019 - 2029

Ship Radar Scanner is marine equipment utilized to detect other vessels and land obstacles to analyze distance and bearing for the navigation and collision avoidance in the Sea. A ship radar scanner is a detection and ranging system that collects radio signals from objects several feet or several miles away from the ship. Safe navigational lookout by the officer of watch (OOW) is the main application of the ship radar scanner. The Ship Radar Scanner is used for many motives such as to calculate bearing and range of a target and to determine speed, course, etc., Integration with other shipboard equipment to derive precise data, differentiating between targets in high traffic density areas, etc. Ship Radar Scanners was primarily developed for military and defense purposes but with developing innovation and technologies and, it caters its wide range of applications in the area of the fishing vessel, Yacht/Recreational Boat, Merchant Marine and more.

Ship Radar Scanner Market: Drivers and Challenges

The prominent factor for ship radar scanner market is the increasing demand for the guidance and surveillance for the safety of the ships. International Regulations for Preventing Collisions at Sea makes Ship radar scanner compulsory for all types of vessels to avoid and prevent it from the sea collisions. By the mandatory rules and regulations, it is expected to increase the demand for ship radar scanner. The increasing demand for pleasure boats and luxury boats which need to be installed with the Ship radar scanner. This factor has significantly increased the demand of ship radar scanner in the global market.

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Maritime transport is the prominent player in the international logistics and transport segment. The safety and efficiency are the key concern for the maritime transport which create the demand for marine safety equipment such as ship radar scanner to avoid sea collisions and safe navigation. The increasing maritime transport is expected witness lucrative growth in the ship radar scanner market.

Travelers among the world are preferring Cruise ship travel owing to several factors such as Luxuries Travel and On Board Smart technology. Passenger preference for cruise travel is maximum in the United States followed by China, Germany, United Kingdom and Australia. The increasing passenger preference for cruise travel expected to bolster the demand for new ship building. Increasing ship building activities are expected to boost the demand for Ship Radar Scanner.

Ship Radar Scanner Market: Segments

The Ship Radar Scanner Market can be segmented on the basis of type covers, Application, Display range and region

On the basis of the type covers, the Ship Radar Scanner Market can be segmented as:

• S-band
• X-band

On the basis of the Application, the Ship Radar Scanner Market can be segmented as:

• Military Naval
• Fishing Vessel
• Yacht/Recreational Boat
• Merchant Marine

On the basis of the Application, the Ship Radar Scanner Market can be segmented as:

• 25 NM to 0.75 NM
• 5 NM to 6 NM
• 12 NM to 24 NM
• More than 24 NM

Ship Radar Scanner Market: Regional Outlook

In North America and Europe, Pleasure boats and Luxury boats demand is increasing owing to the introduction of newer, more economical materials, advanced technology, and increase in the number of luxury boat manufacturers. The Luxury and Pleasure boats are need to equip with ship radar scanner for safety and surveillance. In global shipbuilding industry, 95% of the global market is captured by the China, South Korea and Japan like to three market giants of the shipbuilding industry. The positive outlook of shipbuilding industry is estimated to gain the traction for the ship radar scanner in the Respective Regions. East Asia is expected to dominate the ship radar scanner market owing to increasing requirement of guidance and surveillance, growing cargo shipment activities, shipbuilding activities and inclining travel preference for cruise travelling.

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Ship Radar Scanner Market: Key Participants

List of some of the prominent market participants in the Ship Radar Scanner Market includes:

• FLIR Systems
• Northrop Grumman Sperry Marine B.V.
• HENSOLDT
• Terma A/S
• Guidance Marine
• Lockheed Martin Corporation
• Raytheon Company
• Raymarine Inc.
• West Marine
• Furuno Electric Co. Ltd.

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

Global Ship Funnel Market research to Witness Significant Incremental Opportunity During 2019 - 2029

A ship funnel is a chimney or smokestack on a ship utilized for expelling smoke or engine exhaust and boiler steam. Ship Funnel also known as Ship stacks. In past times, ship funnel has been widely used in the coal driven ships to drive out the exhaust generated from the coal smoke in the ship cabinets. However, in recent days, ship engines have incorporated improved emission systems, yet the ship funnel are still utilized to some extent for ejection of the engine exhaust. Most of the commercial cruise ships have the unique color, funnel shapes and logos for the ship funnel to identify the ships. Some Ships has more number of ship funnel for design aesthetics. The ship funnel cross-sectional area requirement is determined by the volume of exhaust gases need to be expelled from the ship. Aluminum Alloys are the most preferred material in fabrication of the ship funnel owing to its high fatigue strength.

Ship Funnel Market: Drivers and Challenges

Travelers among the world are preferring Cruise ship travel owing to several factors such as Luxuries Travel and On-Board Smart technology. The increasing passenger preference for cruise travel expected to bolster the demand for new shipbuilding. Growing shipbuilding activities are expected to boost the demand for Ship Funnel. Maritime transport is the prominent player in the international logistics and transport segment. Vessel safety and efficiency are the key concerns for maritime transport to reduce the lead time of the logistics. The ship engine performance is a key factor in reducing the lead time. The increasing maritime transport is expected to witness lucrative growth in the ship funnel market. Now a days, Ship is driven by the high-performance engines, which is limited the usage of ship funnel. This limited usage is estimated to slow down the production of Ship funnel.

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Additionally, the technological advancement and development in the shipbuilding sector are estimated to produce a substitute product for the Ship funnel, which is the biggest threat for the ship funnel market. Many Shipping organizations are fixing the shape of the ship funnel to identify the ships. The shipping industry is increasing with growing maritime transport activities. Increasing maritime transport activities are expected to create production opportunities for the ship funnel.

Ship Funnel Market: Segments

The Ship Funnel Market can be segmented on the basis of Vessel type, Sales Channel and region

On the basis of the Vessel type, the Ship Funnel Market can be segmented as:

• Service vessels
• Miscellaneous
• Industrial ships
• Passenger carriers
• Cruise ships
  • Ferries
  • Cargo carriers

On the basis of the Sales Channel, the Ship Funnel Market can be segmented as:

• Line Fit (Original Equipment Manufacturer)
• Retro Fit (Aftermarket)

Ship Funnel Market: Regional Outlook

In global shipbuilding industry, over 90% of the global market is understood to be acquired by the China, South Korea and Japan owing to these countries being the major hubs of the shipbuilding industry. The positive outlook of shipbuilding industry is estimated to gain the traction for the ship funnel in the Respective Regions. East Asia is also expected to dominate the ship funnel market owing to increasing cargo shipment activities, shipbuilding activities and inclining travel preference for cruise travelling. East Asia is expected to witness maximum growth in the ship funnel market followed by the Europe and North America. South Asia and Oceania are expected to be emerging regions for the ship funnel market owing to globalization, increasing cargo trade volume and travelers inclination towards cruise travel. The MEA and Latin America is expected to stagnant growth rate in the ship funnel market.

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Ship Funnel Market: Key Participants

Examples of some of the market participants in the Ship Funnel Market identified across the value chain include:

• MITSUBISHI HEAVY INDUSTRIES, LTD.
• Jiangsu Dajin Co.Ltd
• Daewoo Shipbuilding and Marine Engineering (DSME)
• Tsuneishi Group (Zhoushan) Shipbuilding Inc.
• Kawasaki Heavy Industries (KHI
• Hyundai Mipo Dockyard (HMD)
• Sungdong Shipbuilding & Marine Engineering
• Dae Sun Shipbuilding and Engineering

The Ship funnel research report presents a comprehensive assessment of the Ship funnel market and contains thoughtful insights, facts, historical data, and industry-validated statistical market data. It also contains projections based on a suitable set of assumptions and methodologies. Ship funnel market research report provides analysis and information according to market segments, such as geography, application, and industry.