Permanent Magnet Market – Industry Analysis & Trends By 2024

The global permanent magnet market size is expected to reach USD 38.53 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow, primarily on account of increasing performance efficiency requirements and miniaturization of various automotive parts including sensors and electronic systems.

The growth of the industry is characterized by rising accessibility of quality magnets containing lesser content of hazardous elements such as dysprosium which is likely to drive the demand. The raw materials used for the production of permanent magnets are procured from low cost manufacturers located in China and other mineral rich regions to reduce the production cost.

The sudden shortage of rare earth elements led to the emergence of numerous research methodologies for developing alternatives to these elements. The focus of the research was particularly high in North America and Europe owing to the scarcity of rare earth element deposits in these regions.

The industry is also subject to various technological advancements such as the launch of “Lewis”, a fast-track supermagnets manufacture project by the U.S. Department of Energy. The use of advanced technology programs coupled with the infusion of additional capital by the national governments to improve the production process is expected to drive the market growth.

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Further key findings from the report suggest:

• Rare earth magnet is expected to be the fastest-growing segment, in terms of revenue, registering a CAGR of 9.3% from 2015 to 2024 owing to extensive usage of dense as well as bonded magnets in automotive applications
• The use of ferrite magnets in automotive application is anticipated to be the fastest growing segment, registering a CAGR of 8.7% on account of its increasing usage in motors for fuel pump, door closing, antenna lift, engine starter and windshield washer
• The industry in China is expected to account for a market revenue of USD 14.75 Million by 2024 on account of low magnet price coupled with high consumption by the automotive and industrial applications
• The industry is comprised of industry players operating on price differentiation which is expected to drive the demand. Key manufacturers operating in the market lay extensive focus on integration from raw material supply to manufacturing process to reduce production cost

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Amines Market Estimated To Reach $29.3 Billion By 2025

The global amines market is expected to reach USD 29.3 billion by 2025, according to a new report by Grand View Research, Inc. The fast-paced growth of the personal care industry across the globe acts as a prime factor driving market growth. In addition, the increasing application scope of the product in the water treatment and building & construction industries is projected to have positive impacts on the overall market growth over the forecast years.

The growing use of ethanol amines and its derivatives for the manufacture of a gamut range of emulsifiers, additives, chelating agents, and chemical intermediates for gas and water treatment is expected to drive demand for the product over the coming years. Ethanolamine accounted for the largest product segment on account of the high usage in skin and hair care products, including shampoos, cosmetics, conditioner, and serum.

Amines are increasingly being used for the manufacture of asphalt and concrete additives. The rapid growth of building & construction in key economies such as China, Germany, India, and the U.S., is slated to drive product demand over the forecast years.

The amines industry is expected to witness the fastest growth in the personal care application segment, slated to grow at a CAGR of 5.2% during the forecast period, in terms of revenue. The presence of highly integrated market players such as BASF SE, Dow Chemicals, Eastman Chemical, and PPG Industries, with extensive product portfolios and distribution networks across the globe, is expected to drive the overall industry demand over the forecast period.

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Further key findings from the report suggest:

• The amines market was valued at USD 14.4 billion in 2016 and is projected to grow at a significant growth rate during the forecast period, mainly on account of growing applications in several end-use verticals, including personal care, construction, mining, and metalworking.
• The fatty amines product segment accounted for the second-largest share of the overall industry revenues in 2016. This segment is expected to grow at a CAGR of 8.6% during the forecast period, on account of increasing use of the product in the manufacture of corrosion inhibitors, flotation agents, and anti-cackling agents.
• The product demand in crop protection was recorded to be the highest among all applications, and is expected to witness growth at nearly 8% over the forecast period, on account of growth of the agricultural sector in several emerging economies worldwide.
• The Asia Pacific amines segment dominated the overall industry; valued at nearly USD 6.5 billion in 2016, and is expected to witness the highest growth during the forecast period, on account of rapid surge in demand for surfactants, personal care, and crop protection chemicals in emerging economies of the region.
• The key strategies adopted by the industry players include distribution agreements, expansion of production capacity and acquisitions. For instance, BASF set up a production facility for the manufacture of specialty and ethanol amines in China.

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Animal Feed Enzymes Market Estimated To Reach $2.67 Billion By 2025

The global animal feed enzymes market is expected to reach USD 2.67 billion by 2025, according to a new report conducted by Grand View Research, Inc. Rising requirements for enhanced nutritional value and quality in meat & dairy products is estimated to provide significant scope for the consumption of key feed processing additives including enzymes, vitamins, and emulsifiers over the years ahead. Furthermore, growing consumer awareness regarding the vitality of animal protein intake is likely to play a crucial role in influencing the scenario of feed enzymes industry.

Phytases, carbohydrases, and proteases are the primary products used as enzymes that are utilized in different animal nutrition sectors including poultry, pigs, and ruminant. These products improve the performance of foodstuffs and make it easily digestible for the livestock categories.

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Further key findings from the report suggest:

• Central & South America and Middle East & Africa are likely to witness growth on account of significantly increasing livestock farming and breeding activities in major parts of both the regions. This scenario is estimated to reflect mainly in Brazil, Argentina, Chile, Venezuela, Egypt, South Africa, and Saudi Arabia.
• Carbohydrases, one of the major ingredients utilized in the animal feed industry, generated USD 149.3 million in 2015. These products help in the synthesis of carbohydrates into simple, digestible sugars.
• Proteases are rapidly gaining importance as key protein digestibility enhancers in animal foodstuffs & nutrition sectors, and the segment is expected to grow at a CAGR of 9.9% over the next nine years. In May 2014, Royal DSM N.V. launched a new product range of protease enzymes. This strategic move was implemented to keep up with the growing consumer requirements of animal proteins coupled with the rise in the meat consumption in developing nations.
• The industry is highly concentrated in nature owing to the presence of numerous manufacturers on a global as well as regional level. This, in turn, has intensified the competitiveness of the industry over the recent years. Furthermore, the leading feed enzyme producers including Danisco A/S, Royal DSM N.V., and Novozymes accounted for more than 50% of the total market in 2015.
• Other prominent players include BASF SE, ENMEX S.A. de C.V., Advanced Enzymes, Adisseo, Elanco, BioResource International, Inc., Beldem S.A., and AB Vista
• Various prominent manufacturers have integrated business operations across the global value chain. These players are not only into manufacturing value-added enzymes, but they also have a strong presence in raw material supply, product distribution, and end-use sectors.

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LPG is Emerging Trend in Production - Oil & Gas

The global Liquefied Petroleum Gas Market is expected to reach USD 147.76 billion by 2024, according to a new report by Grand View Research, Inc. Increasing government initiatives to promote the use of LPG as an auto fuel especially in emerging economies is expected to boost the global market. Also, on account of various benefits offered by the product, such as low-carbon emissions, low cost, and operational benefits, its demand is expected to witness significant growth over the forecast period.

Liquefied petroleum gas is increasing as an attractive option for commercial properties combined with renewable and low-carbon technologies to integrate a reliable year-round power supply with carbon savings.

Refinery was the biggest source of LPG and accounted for over 40% of the total volume in 2015 and is expected to exceed a total volume of 165 million tons by 2024. The source of the fuel varies with area, for instance, the majority of the product demand in North America is derived mostly from natural gas processing, whereas Asia Pacific is dependent on refineries for its production. LPG produced from non-associated gas is expected to show significant growth over the forecast period due to increase in shale gas resources specifically in the U.S. and China.

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Further key findings from the report suggest:

• The global liquefied petroleum gas (LPG) market demand was 278 million tons in 2015 and is expected to exceed 380 million tons by 2024, growing at a CAGR of 3.6% from 2016 to 2024
• Non-associated gas reserves are expected to witness the fastest growth over the forecast period in terms of market volume. The segment is expected to reach a total demand exceeding 118 million tons by 2024.
• Residential & commercial application segment was valued over USD 55 billion in 2015 and is estimated to witness the fastest growth in next eight years. High demand as a chief cooking and heating fuel in residential as well as commercial sectors has been the major factor responsible for market penetration in the segment.
• Auto fuel accounted for over 10% of the global LPG demand in 2015 and is anticipated to reach a total volume exceeding 30 million tons by 2024, growing at an estimated CAGR of 3.6% from 2016 to 2024
• Asia Pacific liquefied petroleum gas market dominated the global consumption and accounted for over 33% of the total volume in 2015. Asia Pacific is anticipated to witness a high CAGR of over 4.9% during the forecast period. Increasing consumption of LPG in domestic usage such as cooking fuel coupled with government initiatives mainly in China, India, and Indonesia is expected to boost LPG demand in the region.
• Key industry participants in operating in the global LPG market include Aygaz AS, Bayegan, China Gas Holdings Ltd., Chevron, Sinopec, ExxonMobil, Oman Oil Company, Petredec LPG, Phillips 66, Reliance Industries Limited (RIL), and Oil and Natural Gas Corporation Ltd.

Access press release of this research report by Grand View Research: www.grandviewresearch.com/press-release/global-lpg-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.

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Medical Plastic Compound Market Is Likely To Reach $80.40 Billion By 2025

The global medical plastic compounds market size is expected to reach USD 80.40 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.2% during the forecast period. Increasing aging population in economies such as China, India, Germany, and Austria is projected to remain a key driving factor.

Growing demand for healthcare facilities and services coupled with government initiatives and support towards healthcare is projected to have a positive impact on the market growth. Increasing aging population in countries, such as Germany, Belgium, Austria, Denmark, and Japan is anticipated to prompt growth of the medical plastic compound market. Increasing use of medical devices such as MRI, X-ray, robotic dispensing systems, and apheresis machines would further drive the demand over the forecast period.

Plastics have found a wide scope of usage in medical and healthcare industry owing to superior properties of the product, such as non-magnetism, impermeability, durability, and sustainability. Radiation resistance of this plastic would offer lucrative growth opportunities and new avenue for the manufacturers.

Surging demand for medical device plastics in applications, including surgical instruments, catheters, disposables, bags, implants, and drug delivery systems is anticipated to drive the demand. Rising R&D spending to produce bio-based plastics with superior properties, such as better quality and minimal health hazards is expected to further boost the medical plastic compound market over the forecast period.

Stringent regulations associated with manufacturing and disposal of waste is expected to offer lucrative growth opportunities to the key players. Manufacturers are coming up with various innovative ideas to improve durability and quality and to reduce the cost of devices.

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https://www.grandviewresearch.com/industry-analysis/medical-plastic-compounds-market

Further key findings from the report suggest:

• Polyethylene was the second largest product segment, in terms of volume and accounted for over 18% market share in terms of revenue in 2017. Increasing usage of polyethylene for manufacturing surgical cables, artificial tendons, orthopedic sutures, and tubing is anticipated to compliment demand.
• Asia Pacific is expected to remain the fastest growing regional market with projected CAGR of 5.8% in terms revenue from 2016 to 2025. Developing healthcare infrastructure and rising disposable income in countries, such as China, India, and Japan is projected to propel the growth
• Drug delivery system is anticipated to register a CAGR of 5.4% in terms of revenue over the forecast period.Polymers are widely used in drug delivery system to enhance drug stability and to disguise the unpleasant taste of the drugs
• Major companies operating in the medical plastic compound market include Baxter International, GW Plastics, Cyro Industries, Becton & Dickinson, Dow Chemical, Freudenberg Medical LLC, DuPont, ExxonMobil, Rochling Group, Medplast Inc., Nolato AB, Orthoplastics Ltd., and Saint Gobain Performance Plastics
• Baxter International Inc., has announced to increase production of components for disposable devices in Mountain Home, Arkansas.

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