Outlook of Asbestos Gloves Market status and development trends reviewed in new report

Asbestos Gloves Market will witness substantial growth from industrial applications due to superior heat resistance capability and excellent flexibility. Shifting focus towards labor safety & security across construction, mining, manufacturing and chemical industry will propel the industry growth. As per analysis, gloves reduce the risk of hand injury by about 60%, making it one of the most efficient industrial personal protective equipment.

Rapid industrialization particularly in China, Russia, India, Mexico, Brazil, and South Africa has enhanced the product demand. Increasing manufacturer focus towards their employee safety & security to maintain company standards and values will propel asbestos gloves market growth. Rising product demand for metalworkers, welders and glassblowers owing to superior heat resistance, up to 350O C will boost product penetration.

Stringent occupational safety regulations enacted by government and regulatory institutions to ensure safety from fire and heat will support asbestos gloves demand. Under Occupational Safety and Health Act of 1970, OSHA is accountable for sustaining healthier and safe working conditions for workers primarily in areas that are surrounded by contaminated, hazardous and extreme heat conditions. American Society for Testing and Materials (ASTM) and National Fire Protection Association (NFPA) also formulated standards to ensure labor safety and health.

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Strong outlook in firefighting industry due to high temperature surroundings and flame encounters will propel the asbestos gloves market size. Increasing awareness to ensure safety of firefighters during fire accident will drive product demand. Increasing product usage in aviation industry as safety equipment during firefighting will further augment product scope. Strict safety standards in aviation industry to enhance complete security will fuel asbestos gloves market.

Rising product demand from potters particularly during pot extraction from blazing hot kilns will drive asbestos gloves market size. Growing number of steel plants globally will create positive outlook for product demand owing to resilient resistance against extreme temperatures and corrosion. Increasing need for abrasion resistance material during several operations including grinding, drilling and welding has enhanced product scope. Necessity for safety gears during handling of high temperature equipment accompanied by abundance raw material availability will support industry demand. Increasing product adoption in food processing industry due to its high temperature resistance property will drive asbestos gloves market size.

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Stringent regulations on asbestos usage due to its toxicity may restrain industry growth. As per analysis, increased product usage may result in release of loose fibers into atmosphere causing environment pollution. Increasing incidences of diseases including mesothelioma and cancer caused due to product usage may negatively impact the industry expansion. However, heavy R&D activities and technological advancements to reduce health hazards will provide positive outlook for asbestos gloves market growth.

Europe asbestos gloves market holds a significant share in the global industry share. Globally, Russia is the largest producer of asbestos material accounting for 53% of the overall production in 2016. However, European Union will witness sluggish industry growth due to restrictive standards on product usage particularly in Denmark, Germany, Italy, Netherlands, Norway and Sweden.

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Asia Pacific asbestos gloves market is expected to witness substantial growth in forecast period. Abundant presence of mining reserves particularly in China and Kazakhstan will support business growth. Rapid industrialization has enhanced safety gears demand particularly in China, India, Japan and Taiwan. Increasing number of manufacturing facilities with furnace and incidences of high temperature material handling will further propel industry demand.

MEA asbestos gloves market will witness notable gains in forecast period. Rapid urbanization and industrial development are key factors supporting industry demand. Increasing disposable income along with awareness regarding fire safety measures will boost the industry size. High application scope in petrochemical industry to ensure safety from explosive and highly flammable compounds will support product penetration.

Global asbestos gloves market share is highly fragmented due to presence of large number of regional manufacturers operating in domestic market. Supreme in Safety, Acme Safety, JOMAC Canada, Unarco, Steel Grip, Ansell and Towa Corporation are among major industry players. Other notable participants include Fisher Scientific Company, Guard-Line, Top Glove, Rubberex, National Safety Solution, Protector Fire & Safety, Core Safety Group and Oriental Enterprises. Heavy R&D investments and product innovations are prime strategies adopted by major players to reduce the harmful effects of product.

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Basalt fiber Market 2016 to 2024, key industry players & growth trends

Basalt fiber Market is anticipated to witness a significant growth owing to increasing product demand from automotive, marine, building & construction, and electronics industries. Increasing application as a substitute for reinforced composites will propel product demand. They are made of tremendously fine fibres of basalt, including the minerals plagioclase, pyroxene and olivine.Improved physical and mechanical properties and cost are key factors driving product demand. It has its main use as fireproof textile in the aviation and automotive industries. They also find their application as a composite for manufacturing of products including camera tripods.Increasing penetration of Basalt fiber reinforced polymer (BFRP) bars as a substitute to steel reinforcement for the concrete structures and as exterior support for retrofitting of various concrete structures will propel industry size. Factors such as growing threat of substitutes, availability of raw material, and a restricted number of suppliers are likely to hamper industry growth. The industry faces intensive competition from the carbon fiber industry and glass fiber industry, as these products perform similar applications.

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Basalt fiber market is segmented as continuous and discrete. Continuous are expected to witness substantial upsurge due to environment-friendly nature and efficiency. Higher strength offered by continuous basalt compared to steel enhance its use for construction purposes driving the overall market. Resistance to ultraviolet rays and electromagnetic radiations make them preferable for embankment and soil stabilization. Raw material development, technology innovations, and innovative techniques are projected to expose new industry opportunities for the industry.

Growing demand from automotive and construction segment is expected to propel basalt fiber industry demand for these applications. Upsurging demand from the industrial and civil construction and automobile sector is driving the industry growth. Growing demand for tire and tires adhesives, high-performance sealing products, and swift growth of the automotive industry will support the growth of industry.

North America and Europe are expected to dominate the overall market over the projected timeframe. The U.S., Germany and Russia are expected to be major basalt consumers. Middle East is projected to observe significant growth owing to the increasing construction sector in the region. Rising government spending in numerous countries including Mexico, Saudi Arabia and BRICS is anticipated to fuel the demand for the industry.

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Asia-Pacific region is expected to enhance industry demand owing to the presence of number of domestic players in the vertical industry segment including construction and automotive. Drastic progress in the automotive industry particularly in the developing economies such as China, India, and Brazil are predicted to result in the regional growth. Also, rising population, increasing urbanization and the support from government is another factor creating positive outlook for industry growth.

Main players in the industry include GMV, Galen, Mafic SA, Zhejiang GBF, Sudaglass Technology, Company Mineral 7, KamennyVek, Shanxi Technology, Jiangsu Green Materials Vally New Material T&D ISOMATEX, Hebei Tong-Hui Technology, and Mudanjiang Jinshi. Product launch and expansion is the important strategy, that is anticipated to be adopted by the major industry players. The players are concentrating on R&D activities to offer innovations in both the growing and existent markets to meet the rising demand from various application industries. Producers have shifted their focus to countries such as Japan and China, owing to the low operating and labor costs.

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Fire Protective Materials Market 2016 to 2024, key industry players & growth trends

Fire Protective Materials Market is likely to grow at a steady rate from 2016 to 2024 due to increasing fire safety codes and growth in construction activities.

Fire protective materials help to resist and withstand burning. These protective materials are bifurcated into active and passive fire protective materials. Active fire protective materials are used manually or automatically which require some action or motion for fire suppression such as spray, sprinkler system, extinguisher etc. and passive fire protective materials are those which are deployed in infrastructure and doesn’t require any motion or action. The overall building protection is carried out by using fire resistance walls, doors, liners etc. Increasing awareness of public safety and security, stringent government rules about pyro safety, probable loss of valuable assets, technological advancement and rapid urbanization will drive the market in coming years. Use of these products in structural buildings of oil & gas industry to avert damage caused by explosion will also propel the market growth. The protective materials incorporated in buildings not only provide fire protection but also provide stability, integrity, and insulation. Innovation in products such as use of carbon reinforced fiber in reactive insulation coating, water based coatings, epoxy intumescent coatings, etc. will provide opportunities for industry growth in the future. Environmental & health concern along with high price of raw materials are the restraining factors of this industry.

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Fire protective materials are available in different types such as sealant & fillers, mortar, sheets/boards, cast-in devices, cementitious material, duct tape, intumescent coating, and others such as pyro blocks, asbestos, etc. Cementitious materials are expected to boost the industry owing to its use for thermal and acoustic insulation in steel infrastructures. It is comparatively low cost and has quick application time, making it a popular product among end-users. Sealant & fillers is also likely to witness high growth due to its increased usage in steel infrastructures. Putty will also have a significant market share due to increase in commercial infrastructure construction activities in developing and developed countries.

Based on application, fire protective materials are used in doors, windows, fire resistance glass, cables, linings, screens, and other structures such as wire tray, structural steel fire proofing cables, etc.

Based on end-user industry, fire protective materials are used in commercial, industrial, & residential construction, oil & gas, pharmaceuticals, aviation, electronic, petrochemical, and other industries such as aerospace, chemical, etc. Commercial construction is expected to boost the protective material market due to increasing product demand in construction of schools, colleges, hospitals, offices, universities etc. Residential construction is likely to contribute a significant market share in the industry due to rapid urbanization as well as technological adaptation in the construction industry in developing countries. Petrochemical industry will also contribute to the market growth of protective materials owing to explosive and highly flammable compounds that this industry deals with.

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North America is likely to be one of the largest regional market for these products in terms of volume and value, owing to reasons such as stringent government codes regarding pyro safety, upgradation of existing infrastructure according to new legislations, and growing construction industry.
High fire protective materials demand in Asia-Pacific due to rapid industrial and commercial construction in developing countries such as India, Japan, China, South Korea will augment the market in this region.

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Middle East & Africa is also likely to have substantial share in this market owing to rapid urbanization and industrial development. The growing disposable income coupled with awareness about pyro safety measures will propel the market in this region. FIFA world cup in Qatar in 2022 will boost the construction industry in the Middle East which in turn will propel the market growth.
The key participants in this industry are The Sherwin Williams Company, Hempel A/S, 3M Company, Nippon Paint Co. Ltd, Akzo Nobel N.V, BASF Coating GmbH, Rolf Kuhn GmbH. Some other notable players are PPG Industries Inc., Svt Holding GmbH, Hilti Group, Isolatek International, Termo Incorporated, Rectorseal, Morgan Advanced, Contego International Inc, Pilkington Group Ltd, etc.

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Tooling Board Market report for 2024 – Companies, applications, products and more

Tooling Board Market may register significant gains over the forecast period owing to positive application scope in transportation, wind energy and marine industries. They are useful for creating prototypes, patterns, models, durable and reusable tools, which are used in automotive and motor sport sectors.

Strong application outlook in modelling and prototyping in automotive industries along with superior properties such as low density and high dimensional stability will stimulate PU tooling board market size. Global polyurethane market size was valued at over USD 45 billion in 2016 and may surpass USD 90 billion by 2024, registering over 5.5% growth. They are lightweight and can be glued together for bigger size models.

Increased product usage in CNC machined molds and plugs in composites industry along with shift in trend towards usage of low density polyurethane owing to moisture barrier properties will trigger PU tooling board market growth. CNC machine allows manufacturing of highly accurate molds and they do not shrink with time, thereby remaining dimensionally accurate over the years.

Epoxy is widely used in prototyping applications and are designed to offer dimensionally stable board for tooling jigs, prepreg lay-up tools, and building precise models and patterns. Increased product usage for small scale development in public and private sectors along with rise in demand for prototypes of aircraft and formula one cars may drive tooling board market size.

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Global epoxy market may exceed USD 12 billion by 2024, with gains at over 6%. Positive indicators towards automotive, motor sport and aerospace sectors will stimulate epoxy tooling board market size. High dimensional stability, superior surface finish and ability to withstand temperature variations will boost product demand.

Tooling board market size from automotive applications may register an uptrend over the foreseeable timespan. Global vehicle production may exceed 140 million units by 2024, with gains at over 4%. Growth in automotive industries and higher demand for vehicles will spur industry growth. A unique tool is designed for every single part of a new car. With design of a new part in a vehicle, an appropriate tool for that specific part must be designed, thereby resulting into higher product demand.

Development of technologically advanced vehicles with higher fuel efficiency, light weight, high performance in wind tunnel testing and perfect streamlining along with growth in R&D spending and increase in car sales owing to rise in consumer disposable income will positively influence industry growth.

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North America led by the U.S. tooling board market size should witness steady gains owing to technological advancements in automotive and aerospace sectors. Stringent regulations regarding improvement in vehicle efficiency along with demand for sustainable materials should stimulate regional industry growth. Increasing renewable & recyclable resources demand for manufacturing these products coupled with improvement in living standard of consumers will propel industry growth resulting into higher product demand

Increasing application outlook in aerospace sector should drive tooling board market demand. Global aerospace materials market is likely to surpass USD 30 billion by 2024. Increase in passenger transportation along with growing demand for dimensionally stable, heat resistant and affordable aircraft tools over its counterparts will stimulate tooling boards market size. The product is widely used for prototype production, machining, pattern making, prepreg composite layup tools, vacuum forming and high-temperature curing prepreg applications in the aerospace industry.

Asia Pacific, led by China, Japan and India tooling board market size may grow significantly over the foreseeable timeframe. Growing automotive production bases in this region owing to easy availability of low-cost labour along with rising consumer disposable income and burgeoning population will promote advanced composites & materials demand, thereby propelling product demand.

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Europe tooling board market size, driven by France, UK and Germany may register significant growth by 2024. Automotive giants such as Mercedes BMW, and Audi and aircraft manufacturer Airbus are based in Europe, which should positively impact regional product demand. Growth in industrialization rate accompanied with rising government support to encourage domestic production will propel industry growth.

Key raw material, polyurethane and epoxy resins are used in tooling board manufacturing process. Fluctuating raw material prices owing to wide product usage in automobile, construction, paints & coatings and adhesives industries may hinder industry profitability and affect tooling board market price trend.

Global tooling board market share is moderately consolidated with key manufacturers include Axson Technologies, Sika AG, Huntsman, General Plastic Manufacturing, Curbell Plastics, Trelleborg AG, Coastal Enterprises, Alro Steel, Alchemie Ltd, Base Group, OBO-Werke GmbH and RAMPF Holding GmbH.

Curbell Plastics have developed tooling board manufactured from recycled materials. RAKU-TOOL WB-1450 is a tooling board produced using polyols, which is designed to be an alternative to red foundry boards and has a density of 90.5 lb/cu-ft.

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Fiberglass Pipe Market statistics and research analysis released in latest report

Fiberglass Pipe Market is likely to witness significant gains due to increasing usage of lightweight, high corrosion resistance, fire retardant and high stiffness tubes. Increasing oil & gas production and rising demand for water & sewage management applications would promulgate the industry growth in forecast timeframe.

Key ingredients used for manufacturing fiberglass includes limestone, soda ash, and silica sand. Global fiberglass market size was over USD 13 billion in 2016 and may exceed USD 20 billion by 2024, with gains at over 6%. Fiberglass pipe offers a wide range of advantages, which includes corrosion resistances, low maintenance costs, easy installations and flexibility in producing complex shapes. Traditional products such as PVC, concrete and steel channel are unable to meet the changing consumer needs. Thus, the significant features of the product would propel the industry growth.

Glass Reinforced Epoxy (GRE) fiberglass pipe market size may witness steady gains over the foreseeable period. Excellent corrosion resistance and long service life, superior flow characteristics, low installation cost, minimum maintenance cost and exceptional performance against pressures and high capacity load of product would promulgate industry growth over the forecast timeframe. GRE fiberglass pipe is likely to grow due to its application in various onshore and offshore oil & gas exploration and production.

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GRP fiberglass pipe market size may witness a significant growth over the projected period owing to excellent degree of swelling, water resistance, and non-embrittlement characteristics. Moreover, increasing infrastructure spending in emerging nations are expected to boost fiberglass pipe market demand.

Fiberglass pipe market size from sewage applications may witness significant gains over the forecast timeframe. They are majorly used in sewage management due to its corrosion resistance, light weight, cost effectivity and durability. It offers less frictional losses and provide good hydraulic efficiency. Thus, it is suitable for ground & underground sewage applications. Global sewage treatment plants market is projected to grow at over 9.3% up to 2024. In sewage treatment process, fiberglass pipe is utilized in water & wastewater treatment plants, metallurgy sewage facilities, and industrial effluents treatment plants. Favorable government initiatives towards improving sanitary conditions which should be manufactured in accordance with ASTM D3262, may further stimulate industry growth.

Positive application scope in oil & gas industry may witness significant gains due to increasing production and exploration of oil & gas in both onshore and offshore. Global onshore oil & gas pipeline market may witness significant gains at over 6.5% over the forecast timeframe. Fiberglass pipe are utilized in this sector for crude oil, refined products and natural gas transportation. Rising number of shale gas extraction projects may contribute towards various drilling businesses. Government is taking various measures for smooth transportation which has led manufactures to adopt advanced technology such as Internet of Things (IoT). This technology has led the onshore and offshore end-users to capitalize on smart technology benefits in the piping system.

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North America, led by Canada and the U.S. fiberglass pipe market size may witness a steady growth owing to rising demand for LPG and natural gas in residential and commercial sectors. Advanced piping and refining infrastructure along with drilling technologies will provide easy access to the market. Increasing usage of FRP pipes may continue waste water and sewage applications on account of increase life cycle and various mechanical characteristics may drive regional growth.

Asia Pacific driven by Japan, India, South Korea and China fiberglass pipe market size may witness surge in demand over the forecast timeframe. Increasing energy demand in India, Japan, and China along with rising preference for natural gas for coal replacement is likely to enhance regional growth. Transportation of natural gas through pipeline is more cost efficient and economical as compared to transportation of gas through LNG vessels.  Strong infrastructure spending for these businesses along with replacement for concrete and conventional steel pipes will stimulate industry growth demand in the region.

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Europe fiberglass pipe market size, led by UK, France, Italy and Germany will witness an uptrend over the forecast timeframe. Increasing dependency on Russia for natural gas imports may propel product demand. Companies are setting up oil drilling activities which is likely to have a positive influence on regional industry growth.

Middle East and Africa led by Kuwait, Oman, Dubai, South Africa fiberglass pipe market size is likely to witness a steady gain due to increasing investment spending towards urban infrastructure, establishments of airports, and petrochemical plants expansion.

Key raw materials used for manufacturing GRP pipe include resins, fiberglass, catalysts, and accelerator. High raw material costs may challenge industry and affect fiberglass pipe market price trend.

Global fiberglass pipe market share is moderately consolidated. Major players operating in the industry include Graphite India Limited, National Oilwell Varco, Saudi Arabian AMIANTIT Company, HOBAS International GmbH, PPG Industries, and Fibrex Corporation. Favorable trend towards forming new SBUs is likely to have a positive impact in the fiberglass pipe market demand.

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Levant Power Cable Market size for 2016 was valued over USD 3 billion and is set to witness gain over 8% by 2024

Growing government and private funding to refurbish the war affected public assets will drive the levant power cable market size. The Government of Iraq signed a strategic agreement with Siemens to strengthen and upgrade the country’s traditional energy infrastructure with the modern and secured systems. In 2016, Iraq invested USD 358 billion toward construction projects post-civil war.

Rising focus towards the expansion of clean energy with the aim to reduce the dependency on conventional fossil fuel will accelerate the power cable market share. In 2016, Government of Jordan announced the third renewable energy tender to add 200 MW of solar and 100 MW of wind projects. In 2017, Government of Israel had announced the development of country’s largest solar power project having capacity of 310 MW by 2018. The country is also targeting to meet 10% of its electricity demand from the renewable sources by 2020.

MV power cable market is set to exceed USD 2 billion by 2024 owing to its high adaptability across the transmission and distribution applications. In 2016, Egyptian Electricity Transmission Company (EETC) announced an investment of over USD 1.6 billion towards the strengthening of its existing transmission network.

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Syria power cable market is witnessing significant downturn on account of internal conflicts between government and rebels. However, post-civil war the industry is poised to witness exponential growth subject to growing construction spending toward rebuilding of affected areas.

Growing demand for electricity on account of rising urban population coupled with expansion of T&D network will further augment the power cable market share. In 2017, Turkey Ministry of Energy and Natural Resources announced the development of Dardanelles (Çanakkale) Strait Submarine Cable Project with cumulative transmission capacity of 4 GW. The Government of Iraq has signed strategic agreement with ABB in 2017 towards implementation of new energy transmission systems with an estimated investment over USD 500 million.

Construction power cable market is set to expand over 8% owing to increasing infrastructure funding from public and private financial institutions toward development of infrastructural projects. In 2017, Government of Lebanon announced that it is seeking over USD 10 billion from international community to cope with the presence of huge presence of Syrian refugees over the next seven years.

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Government initiatives to reduce the dependency on the conventional energy generating sources will foster the Jordan power cable market. The country’s energy demand had grown significantly in the past five years due to substantial economic and population growth. Presently it is heavily dependent on fuel import to satisfy 96% of its energy needs which covers 17.6% of its GDP.

Key players across the Levant power cable market include Bahra, Riyadh Cables, MESC Jordan, Nexans, KEI Limited, Prysmian, The Okonite Company, Southwire Company, Belden, Oman Cables, Saudi Cables, Sumitomo Electric, DUCAB, Nuhas Oman, and El-Sewedy.

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Curcumin market revenue to touch the 100-million-dollar benchmark over a decade, surging demand from pharmaceutical applications to push the industry growth

Rising demand for herbal dietary supplements and organic treatment methods for infections and tumors will fuel Curcumin Market growth. Curcumin is basically a fat-soluble, yellow-colored polyphenolic pigment derived from curcuminoids that is available in two forms, namely, enol and keto. This product is also recognized as a turmeric extract, and possesses anti-inflammatory, antifungal, and antiviral properties owing to which it is used to treat tumors, arthritis, and viral infections. It is also used to manage lipid levels, reduce depression, and improve metabolism, subject to which curcumin industry will experience a growth rate of 9.5% over 2016-2024, having held a valuation of USD 39 million in 2015.

U.S. Curcumin Market size, by application, 2013-2024 (USD Million)U.S. Curcumin Market size, by application, 2013-2024 (USD Million)

Growing consumer consciousness toward the consumption of natural ingredients in food products, cosmetics, and medicines is expected to help market players exploit lucrative opportunities in curcumin market. Most companies have been striving to achieve product bioavailability. For instance, Tokyo based firm, Theravalues Corporation, had launched Theracurmin Super, superior bioavailable form of curcumin in 2014, in compliance with the legislations passed by the European Union for sale in the Europe market. With the rising incidences of cancer, drug manufacturers have been trying to find alternative, bio-based, natural medication to treat the terminal disease. Growing consumer awareness regarding OTC medication will also fuel curcumin industry demand.

Curcumin production is excessively rampant across India, subject to the abundant supply of the product. India holds more than 78% of the global curcumin production. The nation accounted for more than 81% of the Asia Pacific curcumin market in 2015 and is anticipated to depict excellent growth prospects over the next seven years, pertaining to the usage of the product as a spice and food colorant. Despite possessing an abundant supply of raw material, reduced commercialization and low consumer awareness have led to the nation exporting the product to developed regions such as North America and Europe.

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Growing consumer preferences toward herbal skin care products will drive global curcumin industry size from cosmetic applications. Worldwide expenditure on herbal cosmetics was more than USD 7 billion in 2015 and is forecast to exceed USD 13 billion by 2024. APAC alone is estimated to have spent more than USD 2.5 million on organic cosmetics in 2014 and is expected to cross a margin of USD 4 million by 2024. Curcumin ingrained cosmetic products possess anti-blemish and anti-pigmentation properties, owing to which they are heavily deployed across the personal care sector. Curcumin market share from cosmetic applications is anticipated to grow at a rate of 13% over 2016-2024.

China curcumin industry is anticipated to witness heavy gains from the pharmaceutical and cosmetic sectors, subject to the product’s natural anti-oxidants. High demand for turmeric based organic dietary supplements and anti-cancer medication is expected to fuel U.S. curcumin market size. In addition, increasing preference for turmeric based cosmetics subject to its anti-pigmentation and antioxidant characteristics will propel U.S. curcumin industry share from cosmetic applications, slated to grow at a CAGR of 10% over 2016-2024

Germany curcumin market size from cosmetic applications is anticipated to surpass 2.3 tons by 2024, in terms of volume. This growth can be credited to the excessive usage of the product owing to its benefits subject to blemishes, UV rays, and skin pigmentation. In addition, the pharmaceutical industry share in Germany is expected to cross USD 65 billion by 2024. The healthcare spending alone surpassed a mammoth USD 325 billion in 2015. Subject to the regulations enforced by the European Food Safety Association (EFSA), Germany curcumin market is anticipated to register a notable growth over 2016-2024.

Pharmaceutical applications held more than 52% of the overall curcumin industry in 2015. The product’s usage in the treatment of various diseases such as arthritis and gastric ailments will propel the market growth.

U.S. led OTC industry in 2015 by accounting for more than 30% of the overall demand, subject to the increased requirement of anti-cancer medication. U.S. herbal dietary supplements market size was valued at USD 6 billion in 2015, and is expected to grow at a rate of 7.5% over the next few years, which will fuel the regional curcumin industry.

UK curcumin market from pharmaceutical applications was worth more than USD 700,000 in 2015. Subject to its superior qualities and extensive applications, UK curcumin industry will witness a noticeable surge. With Germany and UK at the helm, Europe curcumin market will grow at a rate of 13% over 2016-2024.

Worldwide curcumin industry is rather fragmented and encompasses small and medium sized enterprises and large corporations, most of which have their presence in India. Renowned herbal skin care brands and cosmetics that incorporate this ingredient in their products include Shahnaz Husain, Vicco, and Himalaya Herbals. Biomax Life Sciences, Tri Rahardja PT, Helmigs Prima Sejahtera, Hindustan Mint & Agro Products, Konark Herbals & Health Care, Synthite Industries, SV Agrofood, Star Hi Herbs, Hebei Food Additive, Herboveda India, and Arjuna Natural Extracts. These companies focus on developing innovative products and bio-based curcumin alternatives.

Food safety testing market outlook: Rising food safety & security concerns to significantly influence the growth over 2016-2024

Increasing threats over food consumption have stimulated global food safety testing market and generated demand for effective test products that can ensure food safety. Food supply worldwide is facing a range of risks from environmental toxins, bacteria, and food allergens. Food safety testing industry size has been growing substantially, owing to the increasing threat of foodborne illness, and stringent food safety regulations. Moreover, expansion of import and export business of food supply across the globe is expected to further boost the demand for food safety testing market. According to Global Market Insights, Inc., “Food Safety Testing Market size worth USD 9 billion in 2015, is estimated to grow at a CAGR of 7% over the period of 2016-2024.”  The food safety testing industry growth will also be influenced by the expansion of global processed food industry which is anticipated to surpass USD 7 trillion by 2024.

U.S. Food Safety Testing Market size, by contaminants, 2013-2024 (USD Million)
U.S. Food Safety Testing Market size, by contaminants, 2013-2024 (USD Million)

The most common source for contamination of food is pathogens. These pathogens can cause various gastrointestinal disorders such as abdominal cramps, vomiting, diarrhea and nausea leading to increase in illness and death of around 2 million people every year. Growing food epidemic has mandated the laboratory testing for Salmonella, Listeria, E. Coli, Campylobacter types of pathogens, in turn making food pathogen testing market to be a major revenue pocket accounting for 30% of the global demand. Pesticide is another type of contaminant causing health disorders. The pesticide food safety testing market worth USD 800 million in 2015, will witness substantial growth, owing to regulatory norms in using of certified and organic pesticides.

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Contaminated food is a very serious issue which may result into demise. As per WHO’s statistical report in 2014, over 2.5 million people died due to diarrheal diseases. Moreover, U.S is facing an alarming rate of increase in foodborne illness resulting into nearly 5 thousand deaths and more than 325 thousand hospitalizations every year. This has generated the need to implement quality and safety checks, where consumers have the authority to trace their ready to eat meals, processed products, bakery, preserved & canned products. In this regard the EU and FDA have given conformities with consumers’ rights to track food through all production and distribution stages, in turn driving the food safety testing industry. In addition, major food regulatory bodies and authorities such as Good Hygiene Practices (GHP), Good Manufacturing Practices (GMP), Hazard Analysis Critical Control Point (HACCP), and Good Agricultural Practices (GAP) are extending extensive support in ensuring food authenticity, thereby, propelling the food safety testing market growth.

The food safety testing technology market has witnessed a noticeable shift towards rapid food safety testing technology market from the time consuming traditional food safety testing industry. Increase adoption in biosensors, ELISA, rapid culture detection, and PCR-based techniques are widely adopted technologies used to examine the count, metabolites, and type of micro-organisms.

The growth in food safety testing market is also poised to benefit from increasing consumption of meat, poultry, and dairy products. Unhygienic condition while skinning and handling animals in slaughter house is the key responsible factor favoring the meat and poultry food safety testing market. Similarly, dairy products can also get easily contaminated through infected animals. Regulatory bodies such as the FSIS and HACCP are taking major steps in preventing meat & poultry product contamination and implementing adequate pasteurization of dairy products stimulating the food safety testing industry share.

Europe food safety testing market valued over USD 2.5 billion in 2015, with U.K and Germany leading the regional demand. Increasing consumer awareness and stringent food safety regulations will boost the demand for Europe food safety testing market over the coming years. Asia Pacific food safety testing industry will emerge rapidly due to rising population, growing demand for food products, and increasing stringent regulations for food safety. China being the major export trade market is anticipated to witness annual growth rate of 11% over the period of 2016-2024.

The food safety testing market is consolidated with top three players sharing 45% of the overall business space. The key industry participants include Intertek, Bureau Veritas, SGS, Det Norske Veritas, Eurofins Laboratories, Idexx Laboratories, ALS Laboratory and Bio-Rad Laboratories.

Nutraceutical industry to primarily drive carotenoids market size over 2016-2024: Global revenue to surpass USD 300 million by 2024

Rampant application of carotenoids across food & beverages, cosmetics, pharmaceuticals, and animal feed industries has fueled carotenoids market size. According to Global Market Insights, Inc., “Global carotenoids market share is projected to surpass USD 300 million by 2024.” Heavy use of carotenoids in the nutraceutical industry, owing to its positive effect on immune & cardiovascular system are expected to boost the carotenoids industry trends over the coming years. Higher spending on medical & healthcare insurance services along with the growing life expectancy of aging population is further expected to stimulate the global industry size over the next few years. Carotenoids act as a main precursor for amino acids in animal feeds and possess anti-oxidative characteristics, further enhancing its demand across animal feed additives market.

 

U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)
U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)

Major carotenoids products comprise lycopene, beta-carotene, astaxanthin, lutein, and canthaxanthin. Beta-carotene industry size worth USD 40 million in 2015, is forecast to register an annual growth rate of 4% over the coming seven years. Heavy product demand can be attributed to its increasing usage as an essential ingredient in diets, to avoid ailments pertaining to the eyes, heart, and skin. Canthaxanthin, which contributed towards nearly 10% of the global carotenoids market share in 2015, is projected to witness a high surge over the next few years due to rising consumer preference for bakery items, snacks, breakfast cereals, fruits, and baby ingredients. Moreover, its extensive usage across cosmetics industry due to its anti-tanning properties will further stimulate the product demand over the coming years.

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Lutein is another major carotenoid product, forecast to witness a substantial growth in the near future. The growth will primarily be driven by its high demand across pharmaceuticals, food, dietary supplements, nutraceuticals, and animal feed applications. Lycopene industry worth USD 15 million in 2015, is expected to grow considerably over the next few years due to its high application in cosmetics and pharmaceuticals sectors.

Shifting focus of consumers towards natural products has pushed growth of natural carotenoids market. Natural carotenoids industry size is expected to register a CAGR of 4% over the period of 2016-2024. The other prominent extraction of carotenoids is from the synthetic sources. Synthetic carotenoids market dominated the source landscape with a market value of USD 190 million in 2015. Low production cost and easy availability of synthetic resources will boost its industry share over the forecast timeframe.

Carotenoids market size in food & beverage sector is anticipated to grow substantially over the forecast period, owing to its large-scale application as food additives globally. Animal feed sector, which accounted for nearly 30% of the overall carotenoids market share in terms of volume, is projected to grow considerably over the coming years. The growth can be credited to its high nutrient content and improved taste. Growing consumer preference towards healthy meat appearance is expected to boost the carotenoids industry growth.

LATAM carotenoids market is expected to witness a considerable growth over 2016-2024, owing to changing lifestyles, rise in per capita income, and high consumer awareness about the benefits of product use. Argentina, Peru, Brazil, and Chile are expected to be the key growth drivers of the region.

Europe carotenoids industry will witness a substantial surge over the coming years due to the rapidly expanding food sector along with heavy product use as food coloring agent. Russia, Germany, Italy, and France are likely to be the key revenue pockets of the region.

Middle East & Africa carotenoids market is projected to witness a significant growth over the next few years, owing to rise in the aging population as well as high demand for the product across health supplements sector.

Market players will try to enhance their share by adopting business strategies such as product differentiation and high R& D investments. Key carotenoids industry players include Cyanotech Corporation, Allied Biotech Corporation, Chr. Hansen, Divis Laboratories Limited, D.D. Williamson, and Naturex Company.

Plant-based waters market to witness an intensely competitive landscape, coconut water to be a major contender in the product spectrum

Plant-based waters market valuation is poised to witness a commendable surge in the years ahead, driven by the paradigm shift in the lifestyles of the global population. With the depreciating usage of carbonated drinks pertaining to the risk factors associated with them, the plant-based waters industry has witnessed a tremendous demand over the recent years. As per the estimates, the global valuation of the Plant-Based Waters Market in 2016 was approximately USD 2.5 billion. These low-calorie drinks derived from the plants are deemed to address the numerous health concerns of the consumers such as obesity, diabetes, cardiac ailments, etc. Driven by the associated health benefits, the plant-based beverages have witnessed an appreciable degree of adoption and have served as a sustainable alternative to the routine drinks.

U.S. Plant-based Waters Market Size, By Product, 2013 – 2024 (USD Billion)
U.S. Plant-based Waters Market Size, By Product, 2013 - 2024 (USD Billion)

The coconut water amasses the major chunk of the plant-based waters market pertaining to the volume as well as the revenue. As per the estimates, this segment dominated the overall plant-based waters product landscape in 2016 and is slated to register phenomenal growth over the coming timeframe. The prospective commercialization of the coconut water market is quite evident from the active participation by the industry players to exploit this business space. Earlier this year, one such instance demonstrating the massive potential of this industry was the announcement by PepsiCo, where it declared its plan to acquire All Market Inc., the owner of coconut water brand dubbed Vita Coco. The deal would leverage PepsiCo with a strong position in the overall plant-based waters industry.

This acquisition would also establish a strong battleground for the two world’s biggest soda companies – PepsiCo and The Coca-Cola Company. The latter had acquired Zico coconut water brand in 2013 and has a rather strong foothold in the overall plant-based waters market. However, if the deal of PepsiCo acquiring All Market Inc. materializes, the overall plant-based waters market would witness a fiercely competitive landscape in the years ahead.

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Asia Pacific is gaining a major traction pertaining to the commercialization of the plant-based waters market. The market participants are vigorously exploiting the APAC belt to explore the plethora of untapped opportunities in this region. The region is one of the top repositories of coconut, which still falls in the unbranded and unorganized category.

However, in addition to the regional penetration, the distribution network of the industry players will also be a major parameter defining their profitability margins. Along these lines, the online distribution channels are witnessing a swift growth in this business space, owing to the easy product availability and enhanced marketing approach of these channels. The players are increasing their tie-ups with these online platforms to enable an effective distribution model. The retail stores are the second largest distribution channels and are estimated to register the highest CAGR of 23% over the period of 2017-2024. The diversified product landscape of the plant-based waters industry will drive the retail distribution channel adoption in the coming timeframe.

Speaking of the broader product portfolio, the plant-based waters industry is also gaining a remarkable share from the rising sales of Birch and Maple water. These products are still in the nascent stage but the pace at which they are penetrating the U.S. and U.K. markets is indeed appreciable. North America plant-based waters market is projected to witness significant gains from the increasing sales of maple water and the increasing packaged water consumption. Birch, having an ample availability in Europe, will substantially drive the regional plant-based waters industry.

The industry might face growth restraints pertaining to the shorter shelf life and the complex supply chain model of the relevant products. However, the innovations in the packaging industry are addressing these durability issues at a rather quick pace.

In the years ahead, the industry is estimated to witness a broader product portfolio with the incorporation of new flavors. Global penetration, brand recognition, and effective distribution channels are some of the major parameters characterizing the profitability landscape. With this diversified product spectrum and a plethora of potential untapped opportunities, the global plant-based waters market is forecast to exceed a valuation of USD 10 billion by 2024.