Impact of Existing and Emerging Industrial Lubricants Market

The global Industrial Lubricant Market is expected to reach USD 68.41 billion by 2024, according to a new report by Grand View Research, Inc. The growth of key end-use industries such as chemical manufacturing, food processing and electronics particularly in Asia Pacific is expected to drive industry growth. Increase in industrial output in emerging economies such as China, India, Russia, Brazil, and South Africa, predominantly in core manufacturing sectors, such as metal forming, foundry, consumer appliances, and plastics, along with the mining industry is expected to foster demand.

Initiatives such as continuously evolving emission standards, improving engine technology, and norms about mitigated carbon footprints are being adopted in emerging economies such as China and India. The paradigm shift towards environmental conservation is touted to be the key growth driving factors.

Chemical manufacturing was the largest application for industrial lubricants due to the high demand for non-reactive, sustainable and compatible processing fluids to handle various intermediaries and petrochemicals in a safe & efficient manner.

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Further key findings from the report suggest:

• The global Industrial Lubricant Market demand was 15.01 million tons in 2015 and is expected to reach 19.47 million tons by 2024, growing at a CAGR of 3.0% from 2016 to 2024
• Demand in North America & Europe is expected to remain high despite relative stagnancy in manufacturing growth. A revitalized manufacturing sector post recovery from the economic depression of 2009, is a major driving factor for lubricants consumption in these regions
• India emerged as the fastest growing market in Asia Pacific and is expected to grow at a CAGR of 4.3% from 2016 to 2024. India offers rewarding opportunities to industry participants with the government implementing innovative schemes to bolster domestic manufacturing activities
• Process oils primarily find use in the rubber, chemical and technical industries as a process aid or raw material. The segment accounted for over 32% of the global volume in 2015, growing at an estimated CAGR of 3.1% from 2016 to 2024
• Key companies operating in the industry include Shell, Total S.A., ExxonMobil Corp., Chevron Corp., Valvoline International, Kluber Lubrication, Fuchs Group, The Lubrizol Corporation, Clariant, Castrol, and Petronas Lubricant International

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High growth Potential in Bioactive Ingredient Offers Opportunities for the Market Leaders Globally.

The global Bioactive Ingredient Market is expected to reach USD 51.71 billion by 2024, according to a new report by Grand View Research, Inc. Increasing disposable income coupled with growing health awareness among consumers is expected to aid the market growth. Their functional properties are capable of acting on the human metabolism physiology by providing potential health benefits.

The extraction of these bioactive compounds from original sources provides ample opportunities for adding value to food products and also improves the dietary patterns of the changed consumer’s lifestyle. They also help in preventing diseases related to heart, cancer, degenerative forms and Alzheimer’s.

Marine environment is a significant source for yielding bioactive components. Consumption of long-chain fatty acids by some fish species is strongly associated with protection from coronary heart diseases (CHD). Fish Origin Omega 3 PUFA oil are claimed to have a lot of health benefits related to a person’s diet.

Recently, it has been reported that there is an increasing demand for fish oils and fish oil fortified products across various regions. Marine organisms are potentially identified for calcium, antioxidants, anti-hypertensive proteins, selenium, and chitin. Their usage in functional food segment is regarded as the most important part and is expected to affect the overall market over the next eight years.

However, extraction of medicines derived from plants is affecting the environment by causing deforestation and is expected to affect the industry critically over the forecast period. Also, to meet the rising consumer's interest for these products, manufacturers is putting a lot of pressure on the marine organisms.

Recent technological advances such as microencapsulation are adopted for protecting bioactive ingredients from unwanted reactions and oxidation. There is a rising demand among manufacturers to find suitable solutions that provide higher productivity and adequate quality of the final products.

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Further key findings from the report suggest:

• Fibers were the leading product segment and accounted for over 25% of global revenue in 2015. The effectiveness of fibers and rising awareness regarding its benefits are the primarily attributed reasons for this scenario.
• Functional food & beverage product segment is expected to witness the highest CAGR of 7.4% over the forecast period. The consumers owing to its potential health benefits prefer this segment.
• Asia Pacific was the leading consumer and accounted for over 35% of total revenue in 2015. The region is also expected to witness the highest growth of 7.5% over the next eight years. Changing lifestyle coupled with rising health consciousness among people particularly in China and India is drive the regional growth.
• Key industry participants include Mazza Innovation Ltd., Sabinsa Corporation, Ingredion Incorporated, BASF, Cargill Inc, Ajinomoto Co. Inc, Archer Daniel Midland Company and DuPont.

Metal Matrix Composite Market Worth $433.3 Million in 2022

The global Metal Matrix Composite Market is expected to reach USD 433.3 million by 2022, according to a new report by Grand View Research, Inc. Increasing need for high-performance composite metals from automotive, aerospace, and marine industries is expected to fuel the product demand over the forecast period. High malleability, ductility, and tensile strength offered by metal composites make them popular in various application segments including automotive, electronics, and aerospace industries. 

Increasing need for automotive curb weight reduction to increase fuel-efficiency and reduce pollution is expected to augment composite metal usage in automotive production. Increasing disposable income is expected to fuel high-performance automobile demand over next seven years. High manufacturing costs for metal composites along with limited technological expertise are expected to pose a challenge for market growth over the forecast period. 

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North America dominated the overall MMC market and accounted for 34.8% of the total market volume in 2013. Rising demand for high-performance materials from automotive and aerospace industries is expected to remain a key driving factor affecting the MMC market over the forecast period. Asia Pacific is expected to be the fastest growing market on account of rapidly growing automotive and electronics industries. Europe is expected to witness slow growth on account of lower growth rates of end-use industries. 

Further key findings from the study suggest:

• Global metal matrix composites market was 6,174.0 kilo tons in 2014 and is expected to grow at a CAGR of 6.3% from 2015 to 2022
• Aluminum accounted for 36.4% of the total MMC demand in 2014 and was followed by refractory metals
• Refractory matrix metals are expected to be the fastest growing product segment over the forecast period
• Ground transport was the leading application segment in 2014 and is expected to grow at an estimated CAGR of 6.1% from 2015 to 2022
• Electronics/thermal management is expected to be the fastest growing application segment for MMC.
• North America dominated the overall MMC market and accounted for 34.8% of total market volume in 2013. Asia Pacific is expected to be the fastest growing market growing at an estimated CAGR of 7.0% from 2015 to 2022.
• MMC market is moderately concentrated with few multinational players with top five companies accounting for over 65% of the total market share
• Major players operating in the global MMC market include Materion Corporation, Plansee SE, 3M, Sumitomo Electric Industries, Ltd., Sandvik AB, CPS Technologies Corporation, Deutsche Edelstahlwerke GmbH, 3A Composites International AG, GKN PLC, and Hitachi Metals, Ltd.

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Micro Irrigation Systems Market is Increasing Demand for Food Across the Globe.

The global Micro Irrigation Systems Market size was valued at USD 2.48 billion in 2014. The market is anticipated to witness substantial growth by 2022 owing to increasing demand for food across the globe. They including sprinklers, mist, drips, and sprays irrigate plant roots using low discharge emitters and complex pipe network.

The ability to modify the discharge pattern by these systems according to the requirement of various agronomic and horticulture plants drive the micro irrigation market growth. The market is expected to reach USD 9.10 billion by 2022, on account of increasing demand for food in tandem with rising population.

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Urbanization and industrialization had led to the expansion of cities and a decrease in arable land for cultivation of crops. In addition, increasing trend of population migration from villages and towns to cities has resulted in reducing the workforce in agriculture industry. These factors together have contributed to increasing popularity of micro irrigation as they not only improve efficiency but also reduce labor.

Sprinklers dominated the global market accounting for over 30% of the revenue share in 2014. Flexibility and ease of use of the product is expected to result in its high demand over the forecast period. Moreover, sprinklers also offer more coverage in small quantities of water. Thus, the market is expected to grow at a CAGR of 17.1% from 2015 to 2022.

Demand for micro irrigation systems was highest for orchards, accounting for over 30% of the global market. They water only the treeline of the orchard, thus, promoting healthy growth.

Plantation & field crops are likely to witness significant gains over the forecast period owing to rising awareness among farmers regarding the benefits of these equipment.Field crops are expected to grow at a CAGR of 18.2% from 2015 to 2022.

North America accounted for approximately 30% of the overall revenue in 2014, followed by Asia Pacific. Rising awareness among farmers regarding the benefits of using these systems has resulted in growth of the market over the past few years, and the trend is expected to continue over the forecast period.

Increasing adoption of these equipment to conserve water as well as reduce labor in agriculture-eccentric economies of Asia Pacific is expected to augment growth over the forecast period. The market is expected to witness a growth of 19.8% by 2022.Moreover, growing population and rising standard of living are expected to augment the market in the region over the forecast period.

Reduced arable land owing to industrialization, deforestation, soil erosion, and urbanization along with scarcity of water are the major drivers of the micro irrigation systems industry. Installing them minimizes soil erosion, increases crop yield with high quality, and low weed growth. Drought related issues can also be solved by these equipment under the guidance of considerable government policies and regulatory frameworks.

Prominent industry players include Jain Irrigation Systems Ltd., Valmont Industries, Rain Bird Corporation, Nelson Irrigation, EPC Industries Ltd., The Toro Company, Rivulis Irrigation, Lindsay Corporation, Netafim Ltd., and T-L Irrigation. The market is dominated by a key players including Jain Irrigation Systems, The Toro Company and Rain Bird Corporation, together accounting for over 50% of the market share in 2014. 

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The Fastest Growing “Micro Turbine Market” in the Next 5 Years

The global Micro Turbine Market is expected to reach USD 339.7 million by 2024, according to a new report by Grand View Research, Inc. Micro turbines have been gaining advantage globally on account of their compact size and high-efficiency levels. 

The technology is an ideal solution for generating clean energy in the environment. Cost effectiveness coupled with waste fuel utilization have been the major factors driving the global Micro Turbine Market. 

Changing grid operations are anticipated to establish as key industry opportunity for the product development. Increasing potential for greener energy solution is also expected to further augment industry revenue in over the forecast period. Growing investment initiatives to develop new generating capacity coupled with stringent environmental regulatory framework is anticipated to further enhance overall market growth in near future. 

Combined heat & power was the leading application segment and accounted for over 55% of total market revenue in 2015. Increasing initiatives to reduce global warming levels and installation of CHP is expected to drive this segment over the forecast period.

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Further key findings from the report suggest:

• 50 kW-250 kW emerged as the leading power rating sector and is anticipated to witness high demand in hybrid electric vehicle manufacturing. The segment accounted for 38.3% of total market revenue in 2015. It is also expected to witness the highest growth of 11.1% over the forecast period.
• Industrial was the leading end-user and accounted for over 50% of total market revenue in 2015. Micro turbines find application in construction, oil & gas, mining, waste water treatment and pharmaceutical industries. Expanding product application in waste water treatment is expected to establish as growth opportunity for this segment.
• North America was the leading regional market and accounted for 37.7% of global revenue in 2015. Shale gas boom in the region is expected to significantly contribute towards industry enhancement in the near future. Nuclear plants decommission coupled with strict environmental regulations are anticipated to augment European market over the forecast period.
• Major companies include Bladon Jets, Capstone Turbine Corporation, Microturbine Technology BV, Calnetix Technologies LLC., ICR Turbine Engine Corporation, Eneftech Innovation SA, Brayton Energy LLC, Toyota Motor Corporation, Flexenergy, Inc, Ansaldo Energia S.P.A., NewEnCo. and Wilson Solarpower Corporation.