Hydrogen Flame and Flashback Arrestors Market Size Forecast to Reach $104.2 million by 2026

Hydrogen Flame & Flashback Arrestors Market Size Forecast to Reach $104.2 million by 2026

Surge in the Industrialization along with the growth of Oil and Gas industries owing to the rising energy demands along with increasing natural gas production and plans to improve oil production have driven the growth of the Hydrogen Flame & Flashback Arrestors Market

Hydrogen Flame and Flashback Arrestors Market Size is forecast to reach $104.2 million by 2026, at a CAGR of 5.1% during 2021-2026. Hydrogen flame and flashback arrestors market is a safety product used in workplaces or in the industrial processes to protect users and equipment from damages and explosions and consists of a metallic tube filled with iron wool to cool the flame. Adoption of hydrogen flame and flashback arrestors is huge in the oil and gas industry for oxy fuel welding, flame propagation and flame stabilization as well as reverse gas flow owing to stringent regulations related to the adoption of safety equipment in this industry. Growing research and development (R&D) activities for the development of flame arrestors are also expected to fuel the growth of the market. In water and wastewater industry, explosions may occur due to leakage of gases from sewage pipelines. Adoption of hydrogen flame arrestors and investments on water treatment due to stringent regulations in the U.S. and other countries provide opportunities for market growth. Moreover, an increase in investments for the upgradation of equipment and replacement with advanced equipment is expected to drive the market during the forecast period 2021-2026.

Hydrogen Flame & Flashback Arrestors Market Segment Analysis - By Element Style

The Replaceable segment is growing at a significant CAGR of 6.8% in the forecast period as it is used widely in the Oil and Gas industry due to features such as high durability, versatile designs, optimum level arresting capacity, and others. According to Oil & Gas IQ, in 2019 the oil and gas industry will grow at a remarkable rate, owing to the increased upstream production. It is also estimated that Oil also accounts for a significant percentage of energy consumption regionally from 32% for Europe and Asia, 40% for North America, 41% for Africa, 44% for South and 53% for the Middle East. Critical environments facilitating explosion or blasts due to presence of volatile or harmful gases within the atmosphere, the need for regular inspection becomes essential in order to avoid accidents or severe damages in the long term. Such instances have been propelling the demand towards hydrogen flame and flashback arrestors in which the arrestor parts or elements can be easily replaced, thus reducing the need for purchasing new flame explosion trapping devices. All these factors are analyzed to boost the growth of the market in the forecast period 2021-2026.

Hydrogen Flame & Flashback Arrestors Market Segment Analysis - By Industry Vertical

Oil and Gas sector is expected to witness a highest CAGR of 6.9% in the forecast period as there is remarkable growth in the Oil and Gas sector in the recent years. The environmentally vulnerable aspect of the oil & gas field makes it important to install hazard management appliances. A big catalyst for the development of the sector is the new shale gas and tight oil revolution in the US and Canada. With the cost of production diminishing as emerging developments develop, shale gas and tight oil production has risen rapidly and these are used in the bulk storage of oil and gas, offering minimum product losses and best-in-class pressure relief and explosion protection performance. According to OPEC, Kuwait Petroleum Corporation (KPC) increased crude oil production capacity to 4 mb/d in 2020, where the additional production capacity came from technically challenging sour and heavy fields. Kuwait has accordingly awarded enhanced technical service agreements with international firms for the development of heavy oil boosting the use of alternators. In addition, The Clean Fuels Project (CFP), started in 2019, transformed Kuwait’s two refineries into a single integrated merchant-refining complex. As part of this integration project, Mina al-Ahmadi refinery shed 120,000 b/d and the Mina al-Abdulla refinery added 184,000 b/d resulting in a net gain of 64,000 b/d with a total of 800,000 b/d refining capacity at the new integrated complex in 2019. All these boosted the growth of the hydrogen flame and flashback arrestors Market.

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Hydrogen Flame & Flashback Arrestors Market Segment Analysis - By Geography

Hydrogen Flame and Flashback arrestors Market in North America region held significant market share of 37.2% in 2020. Canada is one of the world’s largest producers of Oil & Gas. Canada ranks 5th in global production of Oil & Gas and 4th in the exports of the same. According to Statistics Canada, the country’s biggest banks earn up to 20% of their revenue through providing investment and earn up to 20% of their overall revenue by providing investment and corporate banking services to Oil & Gas companies. The trade in crude oil, natural gas, refined products such as gasoline and petrochemicals, and electricity between the U.S., Canada and Mexico is multi-directional. The U.S. chemical industry had final revenue of more than $765 billion and directly employing more than 529,000 employees in 2018, with additional indirect jobs of more than 1.8 million from industry suppliers. The chemical industry is one of the largest and fastest growing industries in the United States region. Hydrogen Flame Arrestor are deployed for protection of storage tanks for chemical processing plants. With the growing chemical industry, demand for hydrogen flame and flashback arrestor rises for safety purposes, which in turn drives the market growth.

Hydrogen Flame & Flashback Arrestors Market Drivers

Rising investments towards Oil and Gas Projects:

Increasing industrialization has resulted in the surge of oil and gas applications where there is a requirement of hydrogen flame and flashback arrestors for damage protection. Oil and gas sector is considered as a major end-user incorporating flame arrestors owing to its highly critical and hazardous industrial environment. Production facilities related to oil & gas processing as well as refining utilizes a wide range of hazardous and volatile compounds or chemicals, which affect industrial safety, thus creating high demand towards hydrogen flame and flashback arrestors. With the surging COVID-19 pandemic, the oil & gas construction projects were postponed as an initiative towards preventing the virus spread. As per the data from the Ministry of Petroleum and Natural Gas, the project activities across 8,363 oil and gas projects worth Rs. 5.88 lakh crore have been resumed across India in 2020. The start of oil & gas construction projects with maintaining standard operating procedures related to pandemic, will be driving requirement of gas pipelines, treatment systems, gas storage tanks with many others in the long run. As these industrial machines are a part of exerting harmful and toxic gases or vapors, there can be explosion threats, thus boosting the growth of flame arrestors owing to rising oil & gas projects.

Government regulations regarding industrial safety concerns:

The Oil Industry Safety Directorate (OISD) under the Ministry of Petroleum and Natural Gas serves as a technical standard directorate responsible for coordinating the implementation of self-regulatory measures, which are aimed at enhancing safety standards within the oil & gas plants operating in India. Several set standards namely, OISD STD 116 and OISD STD 117 regarding fire protection facilities across oil or gas processing plants as well as petroleum refineries, which has been causing a positive impact on the installation of fire explosion control systems such as hydrogen flame arrestors. According to the guidelines set by OSHA (Occupational Safety and Health Administration) regarding industrial safety across chemical industries, the manufacturing plants are bound to comply with fire safety regulations. Due to the generation of various volatile and harmful obnoxious gases within the industry, there are high chances of fire explosions owing to the mixing of flammable substances within the machines, thus making it mandatory to install various fire protection equipment. Such regulatory policies have been helping to boost the demand towards hydrogen flame arrestors across chemical industries.

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Hydrogen Flame and Flashback Arrestors Market Challenges:

High Investment for the installation of hydrogen flame arrestors:

 The rising adoption of flame arrestors for demanding applications across various industry verticals such as mining, sewage plants, food & beverage, chemicals, power generation with many others are causing higher demand in the market. Manufacturing of such efficient and highly reliable flame arrestors incurs high investments by the manufacturers, which directly impact the purchasing costs for the consumers in the market, thus causing lesser adoption which is restraining the growth of the market.

Hydrogen Flame and Flashback Arrestors Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Hydrogen Flame and Flashback Arrestors Market. Hydrogen Flame and Flashback Arrestors Market top 10 companies include Protego Braunschweiger Flammenfilter, ELMAC Technologies, Emerson Electric, D-KTC Fluid Control, Morrison Bros, WITT-Gasetechnik, AAGER GmbH, Continental Disc, Motherwell Tank Protection, Westech Industrial among others.

Acquisitions/Product Launches

In June, 2020, Elmac Technologies announced the expansion of their current end-of-line flame arrester range with a new High Temperature EHB Series suitable for use with gases in explosion groups up to and including IIB3, and for elevated operating temperatures up to 150°C.

In January 2019, Wihelmsen launched new series of SIRE version (7) which are used in specific welding gases which are flashback arrestors in marine applications.

Key Takeaways

Surge in the Industrialization along with the growth of Oil and Gas industries owing to the rising energy demands along with increasing natural gas production and plans to improve oil production have driven the growth of the market to improve the safety regulations.

Replaceable hydrogen flame arrestors have witnessed a significant growth in the market owing to growing which is widely being used in most major industries like oil & gas, aerospace & Marine and so on as there is need for need for regular inspection in order to avoid accidents or severe damages in the long term.

North America is witnessing a major growth in the market owing to the stringent government regulations and growing industrialization owing to offering environmental protection due to continuous mixing of hazardous wastes from industrial sector.

Relevant Report Titles:

A. Flame Scanners (Detector) Market

https://www.industryarc.com/Report/18148/flame-scanners-detector-market.html

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Workforce Management Market Forecast to Reach 13.1 Billion by 2026

Workforce Management Market Forecast to Reach 13.1 Billion by 2026

Integration of advanced technologies such as IoT and AI to improve workforce management standards along with growing shift towards minimizing operational costs for organizations is analyzed to significantly drive the global Workforce Management Market.

The global Workforce Management Market size is forecast to reach 13.1 billion by 2026, growing at a CAGR of 10.5% from 2021 to 2026. Growing adoption of cloud applications in workplace and increasing growth of major industries including IT & Telecom, healthcare, retail and others for improving employee productivity workflow management have been attributing to the market growth. Additionally, shift towards automating work operations such as employee management, time management, staff scheduling, human resources management, task scheduling, forecasting and others within enterprises along with growing penetration of smartphones, tablets and other personal devices with organizational network connectivity improving employee operations can also drive the market growth forward. Furthermore, growing shift towards minimizing operational costs for organizations, need for applicant tracking systems through analysing understaffing and overstaffing conditions, as well as integration of advanced technologies such as AI, IoT and others within workforce management solutions are further set to propel its market demands in the long run.

Workforce Management Market Segment Analysis- By Deployment Model

Cloud segment is analyzed to grow with the highest CAGR of 9.3% in the global workforce management market during 2021-2026. Adoption of cloud based services or application have been growing significantly across enterprises due to ease of integration, high scalability with others, attributing to its market growth. Implementation and administration of workforce management (WFM) capabilities within cloud environments have been gaining wide popularity across businesses or organizations facing increasing pressure of maximizing work productivity, reducing expenditures as well as improve bottom lines. Deployment of cloud workflow management solutions help the employees with ease in handling self-service work processes including task management, work scheduling, attendance management and others under a single platform, alongside saving from additional costs of IT infrastructures or hardware, making it a cost efficient alternative. Additionally, shift towards migrating more workloads into cloud, growing adoption of cloud computing, along with increasing penetration of smartphones, tablets and others for handling workloads or tasks have been also aiding its market growth overtime. Furthermore, expansion or rise in public cloud environments within enterprises and growing replacement of on premise models with SaaS solutions will help in propelling the market demand towards cloud workflow management solutions in the long run. According to Flexera State of the Cloud Report 2021, public cloud adoption for enterprises reached 79% for AWS, followed by 76% for Azure, 49% for Google Cloud and so on, in comparison to 76%, 69% and 34% respectively for 2020. In October 2020, AMS (Advanced Management Systems Ltd.) announced about the launch of a secured cloud based workforce management platform, named AMS Pulse, in order to serve better accessibility and security needs for New Zealand owned organizations with rapid digital transformation shift. Such factors are set to boost the growth of cloud deployed workforce management market in the coming time.

Workforce Management Market Segment Analysis- By End Users

Retail sector is analyzed to witness the fastest growth with a CAGR of 7.8% in the global workforce management market during the forecast period 2021-2026. Since this industry involves a broad range of diversified workforce, the need for gaining real time visibility or monitoring for varied workflow operations become highly essential. In order to meet growing expansion of retail sector, adoption of workforce management solutions have emerged as a major requirement to serve various work related applications, including employee or staff training, workforce task scheduling, customer service management and so on. With rapid shift towards digitalization and industrial automation, retailers have started focusing on leveraging automated workplace management solutions to reduce expensive as well as time taking labour intensive manual processes, attributing to the market growth. As retail businesses need to operate in changing environments, with quality of customer service being one of the prime drivers, organizations have been focusing on leveraging smart work management scheduling, workforce training, customer engagement and related tools to help solve customer traffic fluctuations more accurately and efficiently. As per Capgemini’s Automation in retail stores report 2020, retailers are expected to raise use of automation or automate application areas like in-store navigation and order fullfillment to 36% by 2022, compared to 21% in 2019. In January 2021, Trax annouced about its partnership with Blue Yonder for the launch of an integrated solution, Dynamic Workforce Management, designed for serving retailers and fulfillment centers. This was meant to help retailers with successful navigation of labour challenges through real-time visibility, optimized scheduling as well as trained workforce capable of solving store issues more faster and efficiently. Such factors are further set to influence the market growth of workforce management within retail sector in the coming time.

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Workforce Management Market Segment Analysis- By Geography

North America region accounted for the largest share of around 37% in the global workforce management market in 2020, attributing to growing shift towards cloud computing or cloud based infrastructures for workload optimization, rising growth of IT & Telecom industry impacting need for employee management tools and so on. Increasing adoption of advanced technologies like artificial intelligence, machine learning and others within enterprises to boost work productivity standards, along with rapid growth of retail sector driving the need for efficient workforce management solutions, will drive its market growth forward in the long run. As per the Genesys survey conducted in 2019, 22% of U.S based companies had revealed about using AI or advanced automation as a part of enhancing efficiency in operations, staffing, budgeting or performance, and is expected to increase its adoption with additional 36% plans by the year 2022. Additionally, high investments on R&D activities from some of the prominent market players including Oracle Corporation, WorkForce Software LLC and others, growing support for reducing operational costs for organizations along with need for workflow process management tools for improving labour management or resource planning, performance monitoring, checking up on operational productivity and so on are further set to aid the market growth in the coming time. In April 2021, Oracle announced about the launch of an employee experience platform, named Oracle Journeys within its Fusion Cloud Human Capital Management system. This platform development was meant to help employers set up journeys for employees at every stage of working life, including a series of personalized tasks, milestones, guidance along with access to resources for any event encountered by employees. Such factors will be considered vital in boosting the market growth of workforce management solutions during the forecast period.

Workforce Management Market Drivers

Integration of advanced technologies such as IoT and AI to improve workforce management standards positively impacting the market growth:

Integration of advanced technologies such as IoT and AI to improve workforce management standards act as one of the major drivers boosting its market growth. Leveraging advanced technologies including artificial intelligence (AI) and Internet of things (IoT) across enterprises have grown overtime, owing to its capabilities of offering real-time data visibility and data analytics which help in uplifting industrial operational efficiency standards. Implementation of such technologies help in optimizing workflows including auto scheduling of meetings, setting up reminders for priority tasks, improved service delivery, faster decision making, forecasting staffing needs, work scheduling and others, which are considered some of the crucial factors attributing to need for advanced workforce management tools. These advancements towards improving workforce management tasks have been aiding its market growth, due to helping managers or employees solve problems with intelligence and high accuracy. In September 2021, Legion announced about the launch of four modules, namely Legion Labour Budgeting, Legion Frontline Communications, Legion Performance & Rewards and Legion InstantPay, as an addition to its AI based Legion workflow management (WFH) platform. This was meant to enhance the platform capabilities by offering better planning as well as execution to employers alongside simultaneously creating an employee experience empowering hourly workers. Such factors are set to drive the market forward in the long run.

Growing shift towards minimizing operational costs for organizations drives the market forward:

Growing shift towards minimizing operational costs for organizations can also be considered as a major factor driving the market growth of workforce management. With poor workforce management or manual management processes, industrial activities including administration, task scheduling, on boarding, work policies and so on, eventually drive the need for automated workforce management tools to reduce increasing operational as well as labour costs for an enterprise. Adoption of workforce management solutions help employers, HR department or managers to keep a track of employee absence or work time off patterns, which can prove essential for finding faster available replacements, thus reducing work productivity disruptions. In addition, utilization of such tools can help in cutting down unnecessary or increased labour intensive costs for an organization by reducing burdens of overstaffing, improving roster management alongside driving more control over operational costs. According to Oracle’s Modern Workforce Management 2019 report, an organization with 5000 employees and $300 million payroll is capable of saving about $6 million annually through reducing labour costs by 2% with better workforce management. In June 2021, M3 announced about the launch of a cloud based mobile application, named M3 Labor for supporting its Labor Management Tool. This development was meant to provide data-driven workforce management tools with smartphone support, enabling hoteliers with greater flexibility and more time. Such factors are set to drive its market demand for improving labour management while minimizing higher operational costs in the long run.

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Workforce Management Market Challenges

Security or privacy concerns related to automated workforce management hampers the market growth

Security or privacy concerns regarding integration, compatibility and functioning can be considered as a major challenge impeding the market growth of workforce management. With shift towards moving to cloud applications overtime within enterprises, adoption of cloud based workflow management solutions can potentially lead to various kind of security breach or threats, compromising with the organizational security. Additionally, rapid evolution of such solutions and integration and capability support within employee’s personal devices including smartphones, tablets and so on, make it highly prone to data exploitation, data hacking, and related cybercrimes, thus slowing down its adoptability. In March 2021, PrismHR, a U.S based company handling work management applications including payroll processing, human resource to health insurance and others for professional employer organizations, had reported of a ransom ware attack, disrupting majority of its services, affecting about 200 clients across the country. Such incidents related to workforce management platforms have been eventually raising security and privacy concerns, with adverse impact on its market growth.

Workforce Management Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the workforce management market. The workforce management market top 10 companies include:

Oracle Corporation

IBM Corporation

WorkForce Software LLC

Authority Software

Infor Group

SAP SE

Kronos Incorporated

NICE Systems Ltd.

Kirona Solutions Ltd.

ADP LLC

Acquisitions/Technology Launches/Partnerships

In June 2021, WorkForce Software announced about the launch of a workforce management solution, WorkForce Suite, with fully integrated set of employee experience capabilities. This development was done to facilitate meaningful and in-the-moment interactions between managers and their desk less employees, while driving more effective employee engagement, as well as boosting employee retention.

In April 2021, Authority Software announced about the availability of Authority Workforce Management solution, with applications including customer relationship management, quality recording management, as well as rapid application development. This was done to eliminate the need for spreadsheets coupled with offering cost effective implementation and unprecedented speed in forecasting.

Key Takeaways

Cloud Workforce Management segment is analyzed to grow with the highest CAGR from 2021 to 2026, owing to various factors including shift towards moving workloads into cloud environments, rising adoption of cloud computing and so on.

North America Workforce Management market held the largest share in 2020, due to growing shift towards cloud based infrastructures for workload optimization, rising growth of IT & telcom industry with others.

Integration of advanced technologies such as IoT and AI to improve workforce management standards along with growing shift towards minimizing operational costs for organizations is analyzed to significantly drive the global Workforce Management market during the forecast period 2021-2026.

Relevant Report Titles:

Risk Management Software Market

https://www.industryarc.com/Report/18635/risk-management-software-market.html

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About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

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Nanocrystaline Cellulose Market Size Forecast to Reach $8.56 Billion by 2026

Nanocrystaline Cellulose Market

Increasing Use of Nanomaterials in Various Industries Driving the Growth of Nanocrystalline Cellulose Market.

Nanocrystaline Cellulose Market size is forecast to reach US$8.56 billion by 2026 and is growing at a CAGR of 12.05% during 2021-2026. A Nanocrystalline (NC) material is a polycrystalline material with a crystallite size of only a few nanometers. Nanocrystalline Cellulose (NCC) production is mainly achieved through chemical treatments using sulfuric acid that swells cellulose amorphous regions keeping the crystalline part. Micro fibrillated Cellulose (MFC) products on the other hand, are produced with no acid hydrolysis step, making it possible to retain both the crystalline and cellulose amorphous regions and conserving the molecular mass of cellulose. The process of isolating Nanocrystalline Cellulose (NFC) from bamboo fiber consists of a series of chemical treatments and high-intensity ultrasonication. After ultrasonication, the colloidal suspension of nano fibbrilled Cellulose(NFC) are collected. Owing to lots of perfect properties of strength, light transmission, gas barrier, the applications of the nanocrystalline cellulose (NCC) are focused on the Packaging, optical film, electronics, composite materials, and other fields. Hence the Nanocrystalline Cellulose Market is estimated to grow in the forecast period.

COVID-19 Impact

Due to the COVID-19 pandemic, the Nanocrystaline Cellulose Market was highly impacted. Most of the manufacturing plants were shut down, which declined the production of Nanocrystalline Cellulose. Also, due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption for Nanocrystalline Cellulose in 2020. However, manufacturers have gradually started to operate with minimum workforce and necessary covid-19 norms and the Nanocrystalline Cellulose market is slowly recovering with small economic disruption owing to its vast application in various end use Industries.

Nanocrystaline Cellulose Market Segment Analysis – By Form

Powder segment held the largest share of 53% in the Nanocrystaline Cellulose Marketin 2020. Spray drying is the most cost-efficient technology to produce bulk quantities of Powder cellulose nanocrystals from acid hydrolyzed CNC suspensions. Spray drying results in the aggregation of CNC particles in granular material which is difficult to redisperse in water to individual particles. Higher light transmission properties, improved dispersion stability, and narrower particle size distribution powder CNC suspensions are achieved with the incorporation of nonionic surfactant at 5 and 10 mM prior to spray drying. Therefore, the addition of a nonionic surfactant is an attractive approach to control granular particle morphology and aqueous redispersion of CNC granular powder.

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Nanocrystaline Cellulose Market Segment Analysis – By Application

Biomedical segment held the largest share of 30% in the Nanocrystaline Cellulose Market in 2020. Nanocrystalline cellulose is a renewable nanomaterial that has gained a lot of attention for its use as a biomedical material due to its exceptional physical and biological properties, such as surface chemistry, low toxicity, biodegradability, and biocompatibility. Nanocrystalline cellulose based biomedical materials are widely utilized in medical implants, drug delivery systems, wound healing, tissue engineering, cardiovascular disease, and antibacterial/antimicrobial activities. Emerging fields being developed to use nanocelluloses and their composites in more novel ways in biomedical applications such as 3D printing and magnetically responsive materials. According to National Bio Technology Strategy, the Indian biotech industry is likely to experience significant growth. Current estimates value of the industry at US$63 billion in FY2019-20, which is expected to grow to US$150 billion by FY25. At present, the biotechnology industry in India comprises more than 3500 biotech start-ups and is estimated to reach 10,000 by 2024-25.Hence the Nanocrystalline Cellulose market has huge potential to grow in the forecast period.

Nanocrystalline Cellulose Market Segment Analysis – By Geography

North America region held the largest share in the Nanocrystaline Cellulose Market in 2020 up to 34%, owing to the growing biomedical Industry in the region. The U.S. bioscience industry has continued its impressive growth trend, generating high-paying, quality jobs and significant economic impacts for the nation. The nation’s bioscience industry employs 1.87 million across more than 101,000 U.S. business establishments. Bioscience industry wages now reach nearly two times the overall U.S. average the average bioscience worker earns more than $107,000, or $50,000 more than the nation’s private sector average. The nation’s bioscience industry has a vast geographic footprint extending to every U.S. state and region. A majority of states have a specialized concentration of employment in at least one of the five bioscience subsectors, and the vast majority have contributed to national growth. Hence the Nanocrystalline Cellulose market is projected to grow in the forecast period.

Nanocrystalline Cellulose Market Drivers

Increasing use of Nanomaterials in various industries

Nanomaterials offer lightweight and strong materials for applications in various industries Nanotechnology in coatings make surface materials more durable, water- and stain-resistant, offering solutions in the textile industry for both high street fashion and for high-end sporting equipment. Many high-performance electronic devices rely on nanotechnology, for instance, Quantum Dot (QD) technology for LED screens and smartphones (QDs offer high resolution and accurate color reproduction). Nanomaterials are providing novel solutions for medical applications and cosmetics, hence the health and beauty sector has seen the greatest rise in nanotechnology focused research. Nanomaterials are widely used in consumer and industrial applications. In industrial products nanomaterials are regularly used to impart advantageous physico-chemical properties (durability, lustre, and water-resistance), Addition of silica nanoparticles to paints provides durability. Consumer products also use the same rationale for the addition of nanoparticles to products, titanium dioxide and zinc oxide are widely used nanoparticles in sunblock and creams, acting as UV filters. Hence the growing use of nanomaterial is going to boost the Nanocrystalline Cellulose market.

Nanomedicine in Healthcare 

Nanomedicine is a rapidly growing area of medical research that is focused on developing nanoparticles for prophylactic, diagnostic, and therapeutic applications. In medicine, nanomaterials offer solutions in diagnostics, prophylactics, and treatment of diseases. Nanotechnology has great potential for applications in the field of cancer research and diagnostics. With the use of nanotechnology clinicians are able to monitor individual cells in the body. Biomarker detection using nanotechnology offers the possibility of early detection, and research in the field of proteomics and genomics facilitated by nanobiosensors has the potential for the prevention and control of diseases. Potentially beneficial properties of nanotherapeutics include improved bioavailability, reduced toxicity, greater dose response, and enhanced solubility compared with conventional medicines. Hence Nanocrystalline Cellulose has a huge potential to grow in the forecast period.

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Nanocrystalline Cellulose Market – Challenges

Hazards associated with Nanomaterials:

Nano-goo self-replicating particles get out of control, or 'nano-robots'. The real risks are much more simple and real. The miniature size of nanomaterials and the way their surfaces are modified to increase the ease with which they can interact with biological systems, the characteristics that make them attractive for applications in medicine and industry makes nanomaterials potentially damaging for humans and the environment. Carbon nanotubes are hazardous for repeated or prolonged inhalation exposure and for carcinogenicity.

Nanocrystalline Cellulose Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Nanocrystalline Cellulose Market. Nanocrystalline Cellulose Market top companies include:

Borregaard
Celluforce
Sappi Ltd.
Kruger Inc.
Innventia AB
Cellulose lab
Nippon Paper Industries Co., Ltd.
Stora Enso
American process Inc.
FiberLean Technologies Ltd.

Key Takeaways

North America dominates the Nanocrystalline cellulose Market, owing to the increasing use in biomedical materials, medical implants, drug delivery systems in the region.

Aging population, increasing prevalence of chronic diseases and growing awareness for availability of different types of biomaterials materials in North America, has been the key factor for growth of Bio medical material in the region.

Nanocrystalline cellulose can alter characteristics of a material by changing its permeability, strength, flexibility, and optical properties. Use of nanocrystalline cellulose improves tensile strength, stiffness, and surface smoothness. Optical films incorporated with nanocrystalline cellulose are well suited for the use in specialty packaging, Armors, and Electronic devices.

Nanocrystalline cellulose is classified as a key evolving renewable nanomaterial that is likely to create huge influence on numerous end-user industries and the market is going to grow in the forecast period.

Relevant report:

Nanocellulose Market

https://www.industryarc.com/Report/11681/nanocellulose-market-analysis.html

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About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

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Bioinformatics Market Size to Grow at a CAGR of 12.4% During the Forecast Period 2021-2026

Bioinformatics Market

The Occurrence of Rare Diseases Is Projected to Upsurge Bioinformatics Market Growth.

Bioinformatics Market size was valued at $8.3 billion in 2020, growing at a CAGR of 12.4% during the forecast period 2021-2026. The recording, annotation, storage, analysis, and retrieval of nucleic acid sequence, protein sequence, and structural information are all covered by bioinformatics. Proteomics is the study of proteomes on a vast scale. A proteome is a collection of proteins made by a living creature, system, or biological milieu. Single nucleotide polymorphisms (SNPs) is a useful tool for determining the genetic basis of disease. In genome-wide association studies and fine-scale genetic mapping initiatives, these variants can be utilized as markers. Bioinformatics applications include molecular therapeutics, metabolomics, and proteomics, to name a few. It's also used in genetics and genomics research. The combination of biology and information technology is referred to as "bioinformatics." Computer software tools are used in bioinformatics to create, administer, and develop databases. Data warehousing, data mining, and communication networking all use it. Furthermore, it is frequently utilized in the field of medical research and medication development for the management of biological data. The worldwide bioinformatics market is predicted to develop owing to the high frequency of chronic diseases. According to the American Cancer Society, it was expected to have 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States year 2019.

Bioinformatics Market Segment Analysis – By Products & Services

Based on Products & Services, Bioinformatics Market is segmented into Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. The Bioinformatics Platforms segment is accounted for the largest revenue market share in 2020 for Bioinformatics Market owing to an increase in platform applications and the demand for better tools in drug development. This trend is expected to continue during the projected period. The study of evolutionary history, development, and relationships among organisms using molecular sequence or structural data is known as molecular phylogenetics (DNA, RNA, or proteins). The Knowledge Management Tools segment is poised to grow with the fastest CAGR of 13.6% in the forecast period 2021-2026. Researchers utilize knowledge management technologies to deal with vast amounts of diverse data. This data comprises both experimental data and data acquired from publicly available repositories. Data management, data warehousing, data mining, and information retrieval are all functions of knowledge management technologies. By comparing them to available databases, these functions aid in understanding the structure of genes and proteins, as well as the implications of mutations.

Bioinformatics Market Segment Analysis – By Sector

Based on Sector, Bioinformatics Market is segmented into Animal Biotechnology, Medical Biotechnology, Forensic Biotechnology, Plant Biotechnology, Environmental Biotechnology, Others. In 2020, the medical biotechnology segment accounted for the largest revenue market share for Bioinformatics Market. The use of bioinformatics in clinical diagnostics is primarily driven by the development of new databases for drug discovery, the use of bioinformatics for clinical diagnostics, and increased funding for the development of bioinformatics solutions for clinical diagnostics, all of which are contributing to the growth of the medical biotechnology segment in the market. Metabolomics is the study of all or a large number of biological metabolites on a global scale. Metabolomics, like other types of functional genomics research, generates a lot of data. Handling, processing, and analyzing this data is a significant undertaking that necessitates the use of sophisticated mathematical, statistical, and bioinformatics software. The Animal Biotechnology segment is predicted to grow with the fastest CAGR of 13.8% in the forecast period 2021-2026. In the veterinary sciences, it has become an essential tool for both basic and applied research. Bioinformatics has advanced veterinary research by introducing new tools for identifying vaccination targets based on the sequencing of biological data from organisms.

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Bioinformatics Market Segment Analysis – By Geography

Based on Geography, North America Bioinformatics accounted for the 35% revenue share in 2020. The bioinformatics market in this region is growing owing to the government funding for genetic research, the existence of prominent bioinformatics providers, decreasing sequencing prices, improved awareness of bioinformatics services, and an increase in the number of genomic research activities. It has a good funding scenario for research activities. This regional market is characterized by increased government initiatives for genomic testing reimbursement and a favorable financing scenario for bioinformatics research activities. A large number of healthcare investments in the European region is expected to fuel the bioinformatics market. Furthermore, the increased adoption of IoT technologies in this industry is likely to have a beneficial impact on regional market growth. With a EUR 20 million investment, the UK government started the COVID-19 Genomics UK Consortium (COG-UK) in March 2020 to sequence the genomes of SARS-CoV-2, the virus responsible for the current COVID-19 pandemic, using whole-genome sequencing (WGS). The NHS, Public Health Agencies, the Wellcome Sanger Institute, and numerous university institutions make up the COVID-19 Genomics UK Consortium (COG-UK).

Bioinformatics Market Drivers

The Occurrence Of Rare Diseases Is Projected To Upsurge Market Growth:

The World Health Organization (WHO) estimates that there are 5,000 to 8,000 different rare diseases in Europe, with 27 million to 36 million people affected. Similarly, new diseases are emerging in other parts of the world that do not yet have a specific prescription treatment. As a result, there is a critical need for novel vaccines and treatments to treat these diseases. These rare diseases, it appears, necessitate a lot of data analytics for diagnosis and treatment, which mostly necessitates bioinformatics and other research methodologies.

The Evolution Of Big Data Technology Is Fueling Bioinformatics Advancement:

Big data has risen to prominence in practically every industry, with a slew of government and private companies using it to boost their bottom lines. In today's world, technology is rapidly evolving, allowing for precise predictive analysis. This steady advancement in big data is fueling the rise of bioinformatics since it allows for a closer examination of current medical issues and the development of new approaches for better treatment.

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Bioinformatics Market Challenges

High-Priced Equipment May Impede Market Expansion:

With the development of sophisticated NGS technology, there is an increasing demand for user-friendly, fast, and accurate bioinformatics tools. Bioinformaticians do not make up the bulk of experimental research scientists. As a result, providing user-friendly tools for using bioinformatics platforms is crucial. Because of the lack of a user-friendly interface, many bioinformatics applications require advanced computer abilities. Genomics instruments are also more expensive, ranging from USD 10 million to USD 20 million, because of their extensive features and functions. Pharmaceutical businesses and research institutions spend a lot of money on various genomic equipment since they need so many of them. Small and medium-sized pharmaceutical businesses and research facilities are unable to make such large investments in various genomics equipment due to financial constraints.

Bioinformatics Market Segment Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Bioinformatics Market. Bioinformatics Market top 10 companies include:

Agilent Technologies Inc.
Biomax Informatics AG
Dassault Sytemes Biovia Corp
Bruker Corporation
Qiagen, Illumina Inc.
Permin Elmer Inc.
Applied Biologicals Materials
Fios Genomics
Partek Incorporated
SOPHiA Genetics

Acquisitions/Product Launches:               

In April 2020, Healthcare Global Enterprises and Strand Life Sciences unveiled StrandAdvantage500, a Next-Generation Sequencing (NGS)-based assay that examines cancer-relevant genetic changes from DNA and RNA obtained from a patient's tumor in one integrated workflow.

Key Takeaways

A single nucleotide polymorphism, or SNP (pronounced "snip"), is a difference in the DNA sequence at a single place between individuals. DNA is made up of a chain of four nucleotide bases: A, C, G, and T.

The rise in bioinformatics platform application can be ascribed to an increase in demand from life science companies for structural identification and customization. This, in turn, would aid in the development of drugs and the assessment of their therapeutic effects. Furthermore, as drug research and discovery become more efficient and safe, the demand for new tools in drug development grows. As a result, the bioinformatics market is likely to grow in the future.

A detailed analysis of the main players functioning in the Bioinformatics Market's Strengths, Weaknesses, and Opportunities will be provided in the report.

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Glufosinate Ammonium Market Size Forecast to Reach $592.6 Million by 2026

Glufosinate Ammonium Market

Necessity of Farmers to Protect Crops From Unwanted Weeds, Fungi, and Bacteria and to Get Generate Capital From the Yield Are the Major Factors Driving the Growth of the Glufosinate Ammonium Market.

Glufosinate ammonium Market size is forecast to reach US$592.6 million by 2026, after growing at a CAGR of 9.8% during 2021-2026. Glufosinate ammonium, often known as phosphinothricin, is a widely used and very effective herbicide. Several kinds of Streptomyces soil bacteria manufacture these organic herbicides. It inhibits the function of glutamine synthetase (GS), an enzyme required for glutamine synthesis and ammonia detoxification. Bialaphos, a naturally occurring herbicide, can also be converted directly to glufosinate by plants. Glufosinate ammonium is currently gaining a lot of attention due to its high efficiency, low toxicity, and ease of decomposition. Glufosinate is used in both agricultural and non-agricultural uses. The market's rise has been spurred by factors such as its broad marijuana range and high efficacy. Furthermore, it is projected that the bolstering agriculture industry will also contribute towards glufosinate ammonium market growth during the forecast period.

COVID-19 Impact

Glufosinate ammonium, often known as phosphinothricin is widely used in the production of vegetables, fruits, wine, and crops, which necessitates intensive crop care such as seed preparation, soil management, crop protection, and more. However, due to the COVID – 19 outbreaks, production in these sectors will face challenges such as late crop care and pesticide product supplies, trade and delivery concerns, and more in the coming month. The negative impact on emerging market economies has been exacerbated by the combination of lengthy lockdowns in rich market economies and local societal estrangement. The prolonged shutdown has also had an impact on the agricultural business. The agriculture business has been impacted by the import/export of key fertilizers, which has had an impact on the worldwide glufosinate ammonium market.

Glufosinate Ammonium Market Segment Analysis – By Packaging

The drum segment held a significant share in the glufosinate ammonium market in 2020 and is estimated to grow at a CAGR of 8.3% during 2021-2026. Drums such as plastic drums, steel drums, and Fibre drums are an excellent way to store and transport glufosinate ammonium. Bottles and bags are less suitable for storing or transporting toxic or hazardous substances, and since glufosinate ammonium is hazardous, often steel and plastic drums are used for its packaging. Steel drums are an ideal choice for storing and transporting bulk quantities of glufosinate ammonium due to their versatile design. They can also be easily palletized and wrapped, making them an ideal choice for glufosinate ammonium bulk shipping applications. All of these perks of using plastic, steel, and fiber drums as packaging are gaining traction for glufosinate ammonium packaging.

Glufosinate Ammonium Market Segment Analysis – By Application

The weed control segment held a significant share in the glufosinate ammonium market in 2020. Weed control is critical in agriculture because weeds reduce yields, raise production costs, obstruct harvest, and degrade product quality. Weeds also obstruct irrigation water flow, make pesticide application difficult, and harbor disease organisms. Glufosinate-ammonium, often known as phosphinothricin assist farmers in weed control and reduce the risks associated with adverse weather affecting the windrowed crop. Also, according to a study conducted in India to assess the bioefficacy of glufosinate-ammonium [glufosinate] against weeds found in tea, up to 14 days after pesticide treatment, glufosinate-ammonium at 0.30 and 0.38 kg/ha provided equivalent weed control, but beyond 14 days, the latter dosage proved superior. After 14 days of spraying, glufosinate-ammonium at 0.38 kg outperformed paraquat dichloride in terms of weed control. Thus, owing to its good weed control result, it is often used for weed control applications.

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Glufosinate Ammonium Market Segment Analysis – By End-Use Industry

The food crops segment held the largest share in the glufosinate ammonium market in 2020 and is forecasted to grow at a CAGR of 13.2% during 2021-2026. Glufosinate-ammonium, often known as phosphinothricin is a broad-spectrum herbicide that is used to suppress weeds in a wide range of food crops around the world. Similar to glyphosate, glufosinate is commonly used in agriculture to suppress weeds such as morning glories, hemp sesbania (Sesbania bispinosa), Pennsylvania smartweed (Polygonum pensylvanicum), and yellow nutsedge. For maximum efficiency, it is given to young plants during their early stages of development. Glufosinate-ammonium has become an important herbicide in worldwide agriculture because it allows farmers to manage weeds in a variety of crops while maintaining a balance between environmental, economic, and social needs. The unique chemistry of glufosinate-ammonium allows for a significant rise in yields and provides major agricultural benefits, which is why it is valued in the food crops industry. These factors associated with glufosinate ammonium is driving its demand in the agriculture sector.

Glufosinate Ammonium Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the glufosinate ammonium market in 2020 up to 36%. The agriculture industry is flourishing in the region, which is accelerating the demand for glufosinate ammonium in the region. For instance, according to Invest India, the production of horticulture crops in India reached a record 326.6 million metric tonnes (MMT) in 2020-21 (an increase of 5.81 million metric tonnes over FY20. The Japanese government hopes to increase agricultural exports from 922.3 billion yen (US$8.5 billion) in 2020 to 2 trillion yen (US$18.5 billion) by 2025 and 5 trillion yen (US$46.1 billion) by 2030 by expanding the financial resources available to agricultural and food producers and exporters. According to the International Trade Administration (ITA), Thailand’s agriculture sector's total local production increased from US$41,459 in 2018 to 43,379 in 2020. Thus, the growth in the Asia-Pacific agriculture sector is set to accelerate the demand for glufosinate ammonium in the region, thereby driving the market growth.

Glufosinate Ammonium Market Drivers

Increasing Agricultural Initiatives by the Government

Governments are investing extensively in agricultural projects and investments since it is one of the most effective ways to improve environmental sustainability. The US Department of Agriculture launched a program called "The Agriculture and Food Research Initiative (AFRI)" to maintain food safety and security while also training the next generation of agricultural workers. The Canadian government gave the Canadian Federation of Agriculture (CFA) a total of $560,000 in 2020 to establish the Canadian Agri-Food Sustainability Initiative. Programs such as the Common Agricultural Policy (CAP) and Young Farmers have been adopted by the European government. The Agriculture Export Policy, 2018 was adopted by the Indian government in December 2018. The new strategy aims to increase India's agricultural exports to US$60 billion by 2022 and US$100 billion in the next several years, assuming a stable trade policy regimen. Thus, the agriculture sector is expanding in numerous places as a result of the government's various agricultural programs. And with the increasing agricultural sector, the demand for glufosinate ammonium will also increase, which will certainly drive the market growth during the forecast period.

Increasing Crop Production Within the Same Area of Arable Land

Glufosinate ammonium plays an important role in providing crops with the nutrients they need to grow and enhance crop yield, owing to which it is often used during crop production. With the world's population continually increasing, enough crops must be grown each year to feed everyone, which is why crop production is increasing over the world. For instance, according to the Food and Agriculture Organization (FAO), the production of primary crops was 9.2 billion tonss in 2018, around 50% more than 2000. Agricultural growth has increased dramatically in recent years, although the majority of this growth has been driven by increased yield per unit area rather than increasing farmed area. Looking ahead to 2030, it is advised that annual crop production and yield should be enhanced annually within the same area of arable land to meet the demand for grain and feed the expanding population on the existing arable land. To improve the crop yield within the same area of arable lands and provide crops proper nutrients the demand for glufosinate will significantly increase, which will certainly drive the market growth during the forecast period.

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Glufosinate Ammonium Market Challenges

Acute Hazards Related to Glufosinate Ammonium

According to the US Environmental Protection Agency (EPA), glufosinate-ammonium (glufosinate) is an organophosphorus chemical that is predominantly a foliar-active herbicides with low systemic activity and has been associated with a variety of human health and environmental impacts. Surprisingly, the EPA detected a multi-generational hazard in mammals when the chemical is used according to the label instructions in 2013, but no new limits have been placed to account for this. Glufosinate can cause a range of effects from substantial, but temporary eye injury, skin irritation, respiratory failure, to death through dermal absorption or ingestion. Any contact with the drug can result in negative consequences. These effects may differ depending on glufosinate formulations and technical grade glufosinate. Thus, these acute hazards related to glufosinate ammonium are posing a significant challenge for the glufosinate ammonium market.

Glufosinate Ammonium Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the glufosinate ammonium market. Glufosinate ammonium market top companies include:

Bayer CropScience

Syngenta

Monsanto Company

BASFSE

Lier Chemical

Jiangsu Huangma

Dow AgroSciences

Hebei Veyong Biochemical Co., Ltd.

Zhejiang YongNong

Jiaruimi

Acquisitions/Technology/Product Launches

In September 2020, BASF has acquired the proprietary Glu-L™ technology for L-glufosinate ammonium from AgriMetis™, an industry leader for the development of biotechnological innovations for crop protection. With this BASF Agricultural Solutions will offer its customers an even more efficient product to protect against unwanted weeds with an improved formulation.

Key Takeaways

Asia-Pacific dominates the glufosinate ammonium market owing to the increasing crop production in the region. For instance, according to the Economic Survey of India 2020-21 report, the country's total food grain production in FY20 was 296.65 million tonnes, up 11.44 million tonnes from FY19's 285.21 million tonnes.

The necessity of farmers to protect crops from unwanted weeds, fungi, and bacteria and to get generate capital from the yield are the major factors driving the growth of the glufosinate ammonium market.

Furthermore, increasing government investments in the agriculture industry is expected to augment the product demand in near future.

However, the health concerns related to excess consumption of glufosinate ammonium and the stringent regulations imposed by health and food organizations of nations across the world are some of the inhibiting factors in the glufosinate ammonium market.

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PVDF Membrane Market Size Forecast to Reach $997.3 Million by 2026

PVDF Membrane Market

Rapid Urbanization, Emerging Economies, and Increasing Construction Activities Are the Major Factors Driving the PVDF Membrane Market Growth

PVDF Membrane Market size is forecast to reach US$997.3 million by 2026, after growing at a CAGR of 7.5% during 2021-2026. Polyvinylidene fluoride, also known as polyvinylidene difluoride (PVDF), is a special plastic material that belongs to the fluoropolymer family. PVDF membrane is used in chemical processing and other industrial facilities for various applications, such as water- and waste-treatment and membrane contact operations. PVDF membrane is used for nanofiltration and microfiltration applications. They are also used for acid gas absorption, stripping, and volatile organic compounds removal among others. The membranes also offer good resistance to acidic and organic solvents as compared to nitrocellulose or nylon membranes. Increased demand for PVDF membrane from biopharmaceutical industries is one of the major factors driving the market during the forecast period 2021-2026. According to the data published by IBEF, the Indian biotechnology industry was valued at USD 64 billion in 2019 and is expected to reach USD 150 billion by 2025. However, the high production cost of PVDF membrane is likely to hamper the market growth during the forecast period.

COVID-19 Impact

The COVID-19 pandemic is impacting different industries; one of the few industries that were primarily hit to some extent was the PVDF membrane industry. The demand for the PVDF Membrane is low during the covid-19 crises. The shutdown of manufacturing facilities of different industries such as Chemical, food & beverage, oil & gas, and others impacted the market in 2019-2020. The delay in construction activities in both developed and developing nations impacted the market growth for PVDF Membrane during covid-19. However, the PVDF membrane industry faced problems related to the supply chain, lack of workforce, and lack of raw materials supply.

PVDF Membrane Market Segment Analysis - By Material

The Hydrophilic membrane segments accounted for approximately 65% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The hydrophilic PVDF membrane offers various physical properties, such as high porosity, high filtration efficiency, chemical & abrasion resistance, particle retention, and high flow rates among others. Due to these properties, hydrophilic PVDF membranes are widely used in filtration applications in biopharmaceutical, oil & gas, food & beverage, and chemical & petrochemical, among others. Rapid growth in these industries is also supporting the growth of the hydrophilic membrane segment.

PVDF Membrane Market Segment Analysis - By Technology

The ultrafiltration technology segment accounted for approximately 34% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. Ultrafiltration membranes are used for separating larger materials such as colloids, particulates, fats, bacteria, and proteins. This technology requires low energy compared to other filtration technologies. The technology is widely preferred in the dairy industry, food industry, pharmaceutical, and chemical industry among others. Ultrafiltration technology can effectively remove pyrogens and endotoxins from solutions in biopharmaceutical products. The rapid growth in the pharmaceutical industry is driving the market growth for the ultrafiltration segment. According to the data published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), In 2018 the pharmaceutical industry invested more than € 36,300 Million (42,868.7 Million) in R&D in Europe. This is further driving the demand for the ultrafiltration segment.

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PVDF Membrane Market Segment Analysis – By Application

The filtration/sterilization segment accounted for more than 36% of the market share in 2020 and is estimated to grow significantly during the forecast period. PVDF membranes are extensively used infiltration processes in various end-use industries such as biopharmaceutical, petrochemical, and food & beverage among others. The growing food & beverage industry in emerging economies such as India, China, South Korea, and Indonesia among others are supporting the market for the filtration segment. According to the Statistics Bureau of Japan, the sales value of food and beverages wholesale in Japan was valued at about USD 450 billion in 2019, which is supporting the demand for PVDF membrane filtration in the food & beverage segment.

PVDF Membrane Market Segment Analysis – By End-Use Industry

The biopharmaceutical segment accounted for more than 22% of the market share in 2020 and is estimated to grow significantly during the forecast period. The increasing investments in the biopharma industry is driving the market for PVDF membranes. According to the data published by EFPIA, In 2019 the European Pharmaceutical industry invested US$ 41,980.3 million in R&D. The industry also employed about 795,000 people in 2019. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), during the 2014-2018 period FDA has approved more than 251 medicines to treat various diseases, compared with 175 in the period 2009-2013. These are some of the major facts supporting the demand for PVDF membranes during the forecast period.

PVDF Membrane Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the PVDF Membrane market in 2020, up to 35%, owing to the rapidly growing population, urbanization, and industrialization in the region. The presence of developing nations such as India and China is driving the market growth in the region. The presence of many end-use industries such as food & beverage, pharmaceutical, chemical processing, and electrical & electronics are also driving the market for PVDF membrane in Asia pacific region. Abundant raw material sources and availability of workforce also supporting the regional demand. According to the 2021 World Investment Report published by UNCTAD, FDI inflows into China increased by 6% in 2020, to USD 149 billion, up from USD 141 billion in 2019. Based on the facts published by the National Bureau of Statistics of China, the Chinese pharmaceutical and medicine manufacturing industry was valued at USD 399.65 billion in 2019. The Chinese pharmaceutical and medicine exports were valued at USD32.36 billion in 2019. The rapid growth in the pharmaceutical industry in the Asia Pacific region is triggering the market growth for PVDF membranes.

PVDF Membrane Market Drivers

Growing water treatment activities

PVDF Membranes are widely used for filtration activities. They are used for various filtration processes such as microfiltration, ultrafiltration, and Nanofiltration. Stringent rules and regulations are made on filtration and treatment of drinking water globally. The growing awareness of water pollution along with implementing various emission control acts in both developed and developing nations are supporting the demand for PVDF membranes. The developed countries including U.S., Canada, UK, and Australia are strictly following emission standards to reduce pollution levels in the atmosphere. According to the Government of Canada, approximately 150 billion liters of untreated wastewater are released into waterways every year, which is leading to environmental and water pollution in the country. According to the United Nations Water organization, Globally, 80% of wastewater flows back into the ecosystem without being treated or reused. They also mention that about 1.8 billion people are using the same water as a source of drinking water globally. So the government bodies across the globe are taking strict rules and regulations on water treatment processes, which is further supporting the growth of PVDF membranes.

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PVDF Membrane Market Challenges

Concerns related to life span and efficiency of PVDF membrane

PVDF membranes have an average life of 2-5 years. The efficiency and lifespan of PVDF membranes depend on the type of applications in which they are used. These membranes undergo fouling and need to be cleaned regularly for maintaining proper efficiency. Fouling in PVDF membranes mainly occurs due to the deposition of salts or dissolved solids on the external surface. These membranes are widely used in desalination and brackish water treatment processes which are prone to fouling or plugging. During the treatment of water or any filtration process, certain components such as iron, sulfate, manganese, and calcium, may form a precipitate on the membrane surface. These are some of the challenges hampering the market growth for PVDG membranes during the forecast period.

PVDF Membrane Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the PVDF Membrane market. Major players in the PVDF Membrane market include

BASF

Sika Carlisle Companies Inc

SOPREMA

Kemper System

Saint-Gobain

Firestone Building Products Company

Johns Manville

GCP Applied Technologies Inc.

Standard Industries Inc

Carlisle Companies Inc. and Other Companies

Acquisitions/Technology Launches

In February 2021, Toray Industries, Inc., introduced a new polyvinylidene fluoride (PVDF) ultrafiltration (UF) membrane with an exceptional virus removal rate and high water permeability for water treatment.

Key Takeaways

The Asia Pacific is expected to register the highest CAGR of 8.5% during the forecast period (2021-2026). Rapid urbanization, emerging economies, and increasing construction activities are the major factors driving the market growth.

The filtration segment is expected to hold a major market share between the forecast period 2020-2026.

The growing use of PVDF membrane in microfiltration, venting applications, and medical accessories are the key factors driving the PVDF Membrane market during the forecast period.

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Marine Composites Market Size Forecast to Reach $4.2 Billion by 2026

Marine Composites Market

Increasing Demand for High-speed Boats Driving the Growth of Marine Composites Market.

The Marine Composites Market globally is forecast to reach US$4.2 billion by 2026, growing at a CAGR of 5.5% during 2021-2026. The shipbuilding industry's incredible demand for corrosion-resistant, lightweight, and high-strength components is expected to spur marine composites market growth. Also, the surge in demand for high-speed and fuel-efficient boats is projected to further expand the market. Composites have been widely used in the marine industry because of their excellent resistance quality. Various structural elements of ships and boats such as decks, hulls, hatch covers, bulkheads are created using lightweight composites. Glass fiber reinforced plastics, carbon fiber reinforced plastics, and aramid fiber are the marine composites, commonly used for manufacturing boats and ships structural elements. The high-quality properties of marine composites as compared to different alternatives are expected to propel the growth of the target market in the forecast period globally. However, the high raw material cost used in this industry may hinder the growth of the market.

COVID-19 Impact

While factors like increased production of powerboats and cruise ships are driving the growth of this market, on the other hand, an unfavorable environment due to COVID-19 disrupted the marine composites ecosystem badly. Due to the pandemic, the market is facing severe disruptions like supply chain breaks, factory shutdown, lack of access to raw materials, etc. Boat production came to a halt, courtesy of Covid-19.

Amid all these COVID-19 negative impacts, however, it is projected, the marine composites market is going to bounce back, gradually picking up the pace in the long term. Many international governing bodies have carried out an assessment of the impact of Covid-19 disruption on the marine supply chain. According to a recent review report by the United Nations Conference on Trade and Development (UNCTAD), the marine supply chain is expected to witness growth, expanding at 4.8 % in 2021.

The target market is projected to see an upward trend in the boat demand by implementing factors such as increasing penetration of fiberglass boats in the USA, increasing boating participants in the maritime hub, and increasing the HNWI (high net worth individuals) population. It is expected, the USA’s fiberglass boat is likely to propel the marine composites market towards growth in the forecast period.

Marine Composite Market - By Composite Type

Owing to its excellent properties and large-scale applications required for the marine industry, Polymer matrix composite dominated the market in 2020. Polymer matrix composite offers excellent impact resistance, corrosion resistance, and lightweight property, which makes it suitable for use in ship manufacturing. Also, due to its great design flexibility property, polymer matrix composite has made good inroads in the marine industry. Furthermore, polymer matrix composite has low manufacturing costs and can be manufactured easily as compared to Metal Matrix Composite and Ceramic Matrix Composite. Metal Matrix Composite (MMC) is projected to witness decent growth, owing to its quality properties such as fire resistance, radiation resistance, higher transverse stiffness, and no moisture absorption. Ceramic Matrix Composite is estimated to grow at a significant rate during the forecast period.

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Marine Composite Market - By Fiber Type

Based on fiber type, the glass fiber reinforced plastics, otherwise known as glass fiber, dominated the marine composites market in 2020. This is due to its lower prices and better properties than those of carbon fiber composites. Also, glass fiber reinforced plastic is lightweight, which makes it suitable for manufacturing boats and various marine vessels, globally. The non-magnetic property of glass fiber reinforced plastics makes it suitable for manufacturing naval ships, which is further expected to drive the marine composites market growth. Carbon fiber reinforced plastics, otherwise known as carbon fiber, are expected to witness significant growth during the forecast period, owing to their advanced properties suitable for high-speed boats. Carbon fiber reinforced plastics are mostly used in the hull of boats, masts, structural frames, and keels. Its high-cost price as compared to glass fiber is what keeps market players from utilizing carbon fiber. However, the current development in the production process in line with the surging manufacturing of carbon fiber reinforced plastics will drop the prices to a decent limit. Owing to its usage in the manufacturing of bow and kneel sections of sailboats, Aramid fiber is also poised to witness decent growth over the forecast period. Aramid fiber has good shock absorption properties and corrosion resistance which makes it suitable to use in multiple marine applications. Due to poor physical properties, Natural fiber is expected to struggle to make a mark in the marine composites market in the next five years.

Marine Composite Market - By Resin Type

Polyester resin held the largest share in the marine composites market in 2020. Polyester resin demonstrates excellent thermal, mechanical, and electrical properties. Furthermore, the cost of polyester resin is generally low as compared to the epoxy, and vinyl ester resins. Polyester resin is widely used in marine components such as boat hulls and yachts and is expected to maintain steady growth in the forecast period. Epoxy resin is likely to witness decent growth during the forecast period. Quality properties like excellent adhesiveness, robust fatigue resistance, excellent chemical resistance, and weight reduction make epoxy resin a good option in the marine composites market. Boat manufacturers are keen to produce lightweight boats to make them high-speed and racing enabled, leading to increased demand for epoxy resins.

Marine Composite Market - By Application

Cruise ship led the marine composites market in 2020 and is growing at a CAGR of 6.04% during the forecast period. There has been an increased demand for cruise ships owing to the growing leisure market and marine tourism activities. According to a report by The Cruise Lines International Association, in 2021, the number of travelers to cruise on the cruise ships is estimated to go beyond the figure of 32 million passengers, recorded in the year 2020. This increasing number of passengers is projected to boost the production of more cruise ships. Furthermore, CLIA Cruise Lines is anticipating to launch 19 new cruise ships in 2021, taking the total to 270 Cruise ships, projected to be operational by year-end. This way, the marine composites market is poised to witness insurmountable growth in the forecast period.

The powerboat application segment is expected to occupy a significant market share during the forecast period, due to the increased demand for marine composites for racing boats and yachts. Powerboats usually have a higher power-to-weight ratio that allows improved handling and higher speed. Since, marine composites have relevant properties, including high strength and low weight, it makes these composites more suitable to use in high-speed boats. Marine composites are used to manufacture ramps and superstructures of cruise ships. Also, these composites offer high-level flexible design property to the manufacturers to create critical components with precision, which in turn is anticipated to augment the marine composites market globally.

Marine Composite Market - By Geography

The Asia Pacific region dominated the marine composites market in 2020 with a share of 38%. China, South Korea, and India are most likely to have a strong contribution to the marine composites market in the next five years. The increasing boat and yacht manufacturing, owing to leisure activity in these countries is projected to augment the target market. The North American region is also expected to witness significant growth, in terms of value during the forecast period. This is mainly due to increasing recreation boating activities in this region. Furthermore, North America has some of the highest revenue-generating companies in the cruise ship business globally. Carnival Corporation and Royal Caribbean Cruises are two of the major companies which drive the cruise sector in the region. The shipbuilding sector in Canada is also projected to drive the marine composites market as the top shipbuilding company, Quebec shipbuilding is estimated to invest more in ice breakers manufacturing in the forecast period. The market in Europe, which is another large region associated with the marine composites market, is expected to drive growth in a moderate manner. European shipbuilding has a dynamic presence in the region due to the manufacturing of robust boats, submarines, and various naval vessels, which is expected to contribute immensely to the marine composites market in the forecast period.

Marine Composite Market Drivers

Increasing demand for high-speed boats

Due to increasing recreational activities, demand for high-speed boats is increasing globally, which, in turn, is expected to drive the growth of the marine composites market. Lightweight composites are heavily used in making multiple parts of ships which includes ventilation ducts, bulkheads, funnels, decks. Special efforts have been made for composite propellers development. When used in propellers, the composite offers multiple benefits such as reduced weight, lower cost, and better noise damping. Cumulatively, all these factors lower the propeller weight by 18.0–25.0% and also lower the life-cycle expenditure by 25.0%, thereby increasing the demand for lightweight marine composites.

Increasing technological innovations

Increasing technological innovations is another key factor driving the marine composites market. With technological advancement in the composite, market players are able to grow new and sustainable items. To have a stronghold in the market, many players are focusing on variables, such as design flexibility, minimized assembly cost, expanded material quality to increase more share in the marine composites industry. This way, the marine composites market is expected to evolve in the coming years.

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Marine Composite Market Challenges

High-cost price of carbon fiber

The major challenge expected to face in the marine composites is the high-cost price of carbon fiber reinforced plastics. Low weight and other advanced properties make carbon fiber desirable, but its high cost is what restricts its frequent use. At present, the cost of carbon fiber is around USD 20-30/kg, which is much higher as compared to glass fiber reinforced plastics. Thus, the high price of carbon fiber is limiting its demand growth.

High cost of raw materials

Commercial factors hugely affect the current competitive composites world. Operating cost (OPEX) and capital cost (CAPEX) are two of the most common commercial factors that govern the commercial decisions and make the marine composite market a highly capital-intensive sector. The cost of marine composite raw materials is the major chunk of the total cost. These factors discourage potential players from entering the marine composite market.

Marine Composite Market Industry Outlook

Investment in R&D activities, acquisitions and technology launches are key strategies adopted by players in the marine composites market. Major players in the marine composites market include:

Toray Industries, Inc.
Cytec Industries (Solvay S.A)
Teijin Limited
Hexcel Corporation
SGL Group
E. I. DuPont Nemours & Co.
Zoltek Corporation
Mitsubishi Rayon Co.
Gurit Holding
3A Composites
Hyosung, among others.

Acquisitions/Product Launches

Italian firm Moi Composites launched the world’s first 3D-printed fiberglass boat at the 2020 Genoa Boat Show held in October 2020. The MAMBO (Motor Additive Manufacturing Boat) is manufactured with parts made up of fiberglass and vinyl ester resin.

Key Takeaways

Increase in demand for high-speed boats due to the increased recreational activities are boosting the growth of the marine composites market.

Increasing footfalls in the tourism industry is expected to increase the demand for cruise ships, which, in turn, will uplift the marine composites market. According to the report titled State of the Cruise Industry Outlook report 2021 by Cruise Lines International Association (CLIA), 58% of international tourists, who are yet to travel by Cruise Ships, are likely to cruise in the coming years.

Asia Pacific region is projected to witness further growth in the marine composites market during the forecast period. Under the joint venture of cruise company Carnival Corporation and China State Shipbuilding Corporation (CSSC), China market is expected to get the first cruise ship built in China, projected to be delivered in 2023.

Marine composite market is expected to recover from COVID-19 impact with a slow, but steady growth during the forecast period.

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