Business Prospects and Future Scope of Lubricant Additives Market in Petrochemical Industry

The global lubricant additives market is expected to reach USD 18.85 billion by 2024, according to a new report by Grand View Research, Inc. Stringent regulations regarding the permissible amount of carbon emission in the atmosphere are expected to remain a key driving factor for global lubricant additives market. Additive prices witnessed a significant decline in 2015 as a result of fluctuations in prices of key raw materials. Their prices are heavily dependent on prices of calcium carbonate, zinc metal, and crude oil.

Viscosity index improvers were the leading product segment with demand share estimated at 23.3% in 2015. Friction modifiers, which act as a cushion between two coated surfaces thereby minimizing surface contacts, are expected to register highest volume growth of 3.5% over the forecast period.

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Further key findings from the report suggest:

• Global lubricant additives market demand was4.28 million tons in 2015 and is expected to reach 5.36 million tons by 2024, growing at a CAGR of 2.5%from 2015 to 2024
• Automotive lubricants were the largest application segment and accounted for over 59.5% of total market volume in 2015. Increasing passenger car production and consequent sales particularly in China, India, Thailand, and Indonesia is expected to drive this segment over the forecast period.
• General industrial oils were the largest segment for industrial lubricants and accounted for over 35% of its volume in 2015. Recovery of manufacturing sectors in North America and Europe along with high industrial output in Asian markets is expected to drive the segment growth.
• Passenger car motor oil was the leading segment for automotive lubricant additives with its demand estimated at over 900 kilo tons in 2015. Consumption is expected to be driven by developing aftermarket for lubricating oils in emerging economies.
• Asia Pacific emerged as the leading regional market with demand share exceeding 30% in 2015. High demand for passenger cars in China, South and Southeast Asia along with a robust lubricant aftermarket sale is expected to complement the regional demand.
• Global lubricant additives market is highly concentrated in nature with Chevron Oronite, Afton Chemical, and Lubrizol being the top manufacturers. Top four companies account for over three-quarters of the industry share. Other key participants include BASF, Evonik Industries, Chemtura Corporation, Shamrock Shipping & Trading Limited, Infineum International Limited, IOCL, Croda International plc, and Tianhe Chemicals Group.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Rapid Increase in Flight Simulators Market - Key Factors, Market Segments Regions and Industry Forecasts Analysis to 2024

The global flight simulators market is expected to reach USD 5.62 billion by 2024, according to a new report by Grand View Research, Inc. increasing adoption of FFS owing to high fidelity and reliability is expected to provide adequate growth prospects over the coming years. Customers also opt for FTDs on account of their low operational costs, modular approach, real-time aerodynamic flight model, and remote configuration as well as management. The industry is expected to witness moderate growth over the forecast period owing to the aforementioned factors.

The need to effectively replicate real flying training with the usage of motion and visual systems has resulted in the introduction of sophisticated simulators in the market. Increase in government spending and growing security concerns particularly in the military sector is anticipated to escalate product demand significantly. The rising concerns over pilot training cost along with fluctuating fuel prices may further drive demand for flight simulators over the next eight years.

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https://www.grandviewresearch.com/industry-analysis/the-global-flight-simulator-market

Further key findings from the report suggest:

• The FFS product segment accounted for over 90% of the overall revenue in 2015 and is expected to grow at a CAGR of over 4% from 2016 to 2024. This growth is owing to features that provide motion, sound, visuals, and all other aircraft operations that create a realistic flight training environment.
• The demand in civil application segment is primarily due to the rising air traffic coupled with the growing emphasis on the passenger as well as pilot safety. Governments in several countries have enforced strict regulations regarding the use and significance of simulation training.
• The services segment is anticipated to grow at a CAGR exceeding 3.0% over the forecast period. This is primarily attributed to the rise in number of simulator installation by international airways.
• Europe accounted for more than 30% of the overall market share in 2015 and is expected to exhibit a modest growth over the next eight years on account of the elevating enforcement of regulations pertaining to pilot training and passenger safety.
• The Asia Pacific flight simulators market is estimated to exhibit a substantial growth over the forecast period in light of the growing aviation industry, resulting in the increasing demand for flight simulators. The Middle East & Africa is also projected to showcase a substantial demand of over 4%, which is primarily be attributed to the presence of carriers including Emirates, Etihad Airways, and Qatar that are investing heavily in this industry.
• Prominent industry players include CAE, Boeing, L-3 Link Simulation & Training, Lockheed Martin, Rockwell Collins, Thales and SaaB. Industry participants emphasize on joint ventures, mergers and acquisitions in order to acquire greater financial, technical, marketing, manufacturing and distribution expertise.

Access press release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-flight-simulator-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

The Reasons for The Rise in Global Automotive Refinish Coatings Market in Recent Period

The global automotive refinish coatings market is expected to reach USD 14.88 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for automotive refinish coatings as they improve the durability and enhance the appearance of vehicles will fuel market growth over the next eight years. Furthermore, aging of vehicles, rising demand for repair, maintenance, and aftermarket modifications will augment product demand over the forecast period. 

The waterborne technology was valued at USD 3.40 billion in 2015 and is expected to witness significant rise on account of excellent heat resistance, adhesion, and abrasion properties. Furthermore, its advantage over solvent borne coatings including less toxicity, less flammability, and reduction of air emissions will propel market growth over the forecast period. 

The basecoat is expected to witness significant revenue rise at a CAGR of 6.9% from 2016 to 2024 over the forecast period as it provides color, decorative effects and exterior aesthetic to vehicles. Increasing demand for solid basecoats in motorcycles, trucks and cars owing to the ease of application coupled with basic color effect will increase industry size. 

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www.grandviewresearch.com/industry-analysis/automotive-refinish-coatings-market

Further key findings from the report suggest:

• Global automotive refinish coatings market demand was 916.4 kilo tons in 2015 and is expected to witness high gains in light of growing vehicle sales in China, India, and Mexico
• Acrylics was a prominent segment and accounted for 21.1% of the overall volume in 2015. The product will show growth in light of its high usage in waterborne technology. Furthermore, superior properties including resistance to stain, blistering, cracking, and extreme temperatures will fuel its demand over the forecast period.
• North America accounted for 22.8% of the global revenue share in 2015 and is expected to witness significant gains in light of growing need for repair, maintenance, and customization over the upcoming years.
• Latin America will witness significant revenue growth at a CAGR of 6.6% from 2016 to 2024 as a result of increasing automotive vehicle sales in Argentina, Brazil, and Columbia. Prevalence of road accidents along with the growing trend of recreational vehicles in Brazil will fuel industry expansion.
• Automotive refinish coatings industry is dominated by key participants including BASF, Axalta Coating Systems, PPG Industries, AkzoNobel, and Sherwin-Williams. Ongoing product development by various companies to manufacture high-performance and cost-efficient coatings is expected to augment product consumption over the next eight years.
• In December 2015, PPG Industries in collaboration with Asian Paints introduced product line of environment base high performance waterborne automotive refinished paint in Sri Lanka to expand the customer base

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Preclinical CRO: Pharmaceutical Industry Trends By 2025

The global preclinical CRO market is anticipated to reach USD 6.6 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness lucrative growth during the forecast period owing to rise in R&D expenditure on early stage development as well as increase in number of drugs in preclinical phase. Hence, increase in outsourcing penetration is further expected to contribute to the growing demand of life science companies for outsourced preclinical services.

Rise in the number of complex drugs entering preclinical trial and growing pressure to curb R&D expenses are expected to contribute to the growing demand for quality CROs, thereby contributing to the market growth. As per Servier Research Institute, issues related to nonclinical toxicology testing results in a 50.0% failure rate in the early stage development phase. High failure rate in this phase is expected to contribute to the demand for early stage development CROs during the forecast period.

Rise in outsourcing of R&D and growing competency of CROs are expected to further contribute to the growing demand for early stage development CROs by life science companies. CRO’s such as Charles River Laboratories and LabCorp specialize in early phase development services. Vendors in emerging countries, such as India and China, provide quick preclinical services at lower costs, which contributes to the outsourcing of R&D.

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www.grandviewresearch.com/industry-analysis/preclinical-cro-market

Further Key Findings From the Study Suggest:

• Toxicology testing held the largest share in the service segment as of 2016 and is expected to dominate over the forecast period. The attrition of drugs due to toxicity is fueling demand for outsourcing of preclinical studies to CROs, which offer end-to-end services, including toxicology testing.
• Biopharmaceutical companies are the major clients for preclinical vendors and held the highest share in the end-use segment in 2016 and is expected to dominate over the forecast period.
• North America is expected to dominate preclinical CRO market over the forecast period owing to local presence of established early development CRO’s, such as Charles River Laboratories International, Inc.; Laboratory Corporation of America; and Envigo. In addition, better quality of work, established scientific experience, economic stability, and better logistics are other major factors for dominance of the region in the global preclinical trial outsourcing market.
• Some of the key players in the preclinical CRO market are Charles River Laboratories International, Inc.; Laboratory Corporation of America; Envigo; Eurofins Scientific; PRA Health Science, Inc.; Wuxi AppTec; Medpace, Inc.; Pharmaceutical Product Development, LLC; and Paraxel International Corporation.

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Plastic Films & Sheets Market Enhance Growth of $157.5 Billion By 2025

The global plastic films & sheets market is expected to reach USD 157.5 billion by 2025, according to a new report by Grand View Research, Inc. Rise in the global consumption of sustainable textiles has been a major factor driving market growth. Growing demand from application industries and rising prominence of eco-friendly and water soluble films have increased the utilization of plastic films and sheets in the global market.

Plastic film and sheets have attained significant popularity in applications across various industries. Active lifestyle, demographic changes and rising sustainability trend has been spurring innovation & development of plastics, thus, providing marketing opportunities in key sectors including consumer goods and food & beverages. Robust manufacturing base in the global market coupled with growing demand in emerging economies of Asia Pacific and Central & South America is likely to augment the demand in the global market over the forecast period.

LDPE/LLDPE was the largest product segment in 2016 and is expected to witness a lucrative growth rate over the forecast period. HDPE films and sheets segment is also anticipated to observe lucrative growth rate by 2025. Unique properties of HDPE sheet include abrasion resistance, good electrical properties, low friction coefficient, chemical & corrosion resistance, moisture & odor resistance, and high impact strength. HDPE is widely utilized in food packaging industry and is FDA approved, borated HDPE is used on nuclear facility applications as it offers strong radiation protection.

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www.grandviewresearch.com/industry-analysis/plastic-films-and-sheets-market

Further key findings from the report suggest:

• The global demand for plastic films & sheets was 46,343.9 kilotons in 2016 and is estimated to ascend at a CAGR of 4.0% from 2017 to 2025. Asia Pacific dominated the global market in 2016, followed by Europe. Emerging economies in the Asia Pacific region including India, and China, have been experiencing strong economic growth in various application industries, resulting into augmented demand towards plastic films & sheets market.
• LDPE/LLDPE emerged as the largest product segment in 2016. Their common applications include food packaging, textile packaging, and other special applications in tents and outdoor equipment.
• Asia Pacific plastic films & sheets market is anticipated to witness promising growth over the next nine years owing to several technological developments, especially in the food & beverage and pharmaceutical industry. In terms of revenue, the regional market is expected to progress at a CAGR of 6.7% from 2017 to 2025.
• Key participants include Toray Industries, Inc., British Polythene Industries Plc, Toyobo Co. Ltd., Berry Global, Inc., Saudi Basic Industries Corporation, Plastic Film Corporation of America, Sealed Air Corporation, DowDuPont, Novolex, Bemis Company, Inc., and Uflex Ltd. In May 2017, Saudi Basic Industries Corporation participated in Chinaplast 2017 in order to showcase it's efficient and innovative plastic packaging solutions across several application segments. The designs presented were lightweight and could help the end users in safeguarding the environment

Access press release of this research report by Grand View Research: www.grandviewresearch.com/press-release/global-plastic-films-and-sheets-market