Monday 29 February 2016

Marine Lubricants Market Analysis-Size, Share, Growth, Trends and Forecasts To 2020: Grand View Research



 
The global marine lubricant market is expected to reach USD 10.94 billion by 2020, according to a new study by Grand View Research, Inc. Growth of global cargo fleets is expected to remain a key driving factor for the global marine lubricants market. Growth of global shipping industry on account of growing number of voyages is also expected to propel the growth of marine lubricants. Volatile raw material prices and stringent regulatory scenario across various major regions is expected to remain key challenges for market participants.


Mineral oil was the largest product segment and accounted for 88% of the total market demand in 2013. Cheap and easy availability of mineral oils along with increasing investments for R&D have been the major factors responsible for the growth of the market over the last few years. Mineral oil is also anticipated to experience highest growth rate over the next six years. The segment is expected to grow at an estimated CAGR of 3.6% from 2014 to 2020.
 



Further key findings from the study suggest:

  • Global marine lubricant market volume was 2,428.7 kilo tons in 2013 and is estimated to grow at a CAGR of 3.6% from 2014 to 2020.

  • Engine oil emerged as the leading application segment and accounted for 46.3% of total market volume in 2013. Increasing engine capacities and efficiency in ships is expected to drive the demand for engine oils. Hydraulic oil is expected to be one of the fastest growing application segments for marine lubricants growing at an estimated CAGR of 3.4% from 2014 to 2020. Increasing dependence on hydraulic mechanical parts in ships is expected to augment the market growth over the next six years.


  • Europe emerged as the leading regional market for marine lubricant and accounted for 46.2% of total demand in 2013. The European market is characterized by high investments for lubricants of different grades coupled with increasing seaborne trade specially food & beverages and packed foods. Europe along with being the largest market is also expected to witness highest growth over the forecast period.

  • Growth of shipping industry coupled with governmental support in form of freight tax relaxation in India and China is anticipated to fuel the Asia Pacific marine lubricants market over the forecast period.


  • The global marine lubricants market is oligopolistic in nature and the market participants compete on the basis of product development and overall profitability. The market is primarily dominated by major oil & gas companies including BP Marine, Total Lubricants, Royal Dutch Shell, Chevron, Castrol, ExxonMobil and Sinopec Corporation.





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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For More Information, Visit Grand View Research

Contact:
Sherry James
Corporate Sales Specialist, U.S.A.
Grand View Research, Inc.
United States
Phone:  1-415-349-0058
Toll Free:  1-888-202-9519
Email:  sales@grandviewresearch.com

Next Generation Cancer Diagnostics Market-Size, Share, Growth, Trends and Analysis From 2015 To 2022: Grand View Research



Global next generation cancer diagnostics market is anticipated to reach USD 20.25 billion by 2022 growing at an estimated CAGR of 32.0% from 2015 to 2022, according to a new report by Grand View Research Incorporated. Rising incidence of oncology diseases is anticipated to drive the demand for next generation cancer diagnostic tests that are expected to enhance early diagnosis and efficient prognosis of various forms of cancers is a factor expected to positively influence sector growth over the forecast period. 


Cancer diagnostics industry is estimated to witness lucrative growth over the forecast period majorly due to rising number of technologically advanced products in the field of companion diagnostics, providing more precise testing results combined with therapeutic monitoring early diagnosis of cancer. Moreover, there is a significant shift observed from traditional laboratory testing to rapid point of care testing, which fuels growth in the market owing to expected commercialization of technologically advanced range of products including diagnostic kits, instruments, and reagents. 


Furthermore, supportive government initiatives in order to increase the number of research projects with respect to oncology and preventative diagnosis is expected to be attributive for growth in this sector overthe coming years. Additionally, application of tumor diagnostics in epigenetic analysis and CTC enumeration for monitoring tumorigenesis is expected to support projected growth over the forecast period.
 



Further key findings from the report suggest:


  • RT-PCR & multiplexing accounted for the largest share of the market in 2014 with respect to technologies because of the presence of a wide product portfolio that caters to a number of applications in oncology R&D. 

  • Next generation sequencing solutions for use in cancer diagnostics are expected to witness lucrative growth in revenue over the forecast period owing to the considerable number of advantages the technology offers over its counterpart segment i.e. microarrays. Introduction of novel sequencing platforms and growth oriented initiatives taken by major market participants are other key factors expected to fuel segment growth. 

  • In January 2016, Illumina launched its MiniSeq system for the sequencing, which provides complete sequencing solution in order to obtain quicker results because of onboard data analysis for numerous assays and workflow with easy-to-use library-to-results. Such strategic initiatives taken by major market entities are also expected to drive this segment further over the forecast period. 

  • Development and expected commercialization of a number of companion diagnostics is a key factor attributive of anticipated substantial growth in demand and progress of the segment over the next seven years owing to rising sector penetration in this segment for use with therapeutics and novel pharmaceuticals as adjunct in monitoring tumor eradication. 
  • Dominant industry participants to produce non-small cell lung cancer diagnostic tests anticipate lung cancer to witness substantial growth in market demand because of product development operations carried out. 

  • Application of oncology diagnostics in biomarker discovery by transcription regulation is expected to drive industry with potential growth avenues as it subsequently proves helpful in drug designing and identification of novel targets for tumor eradication.

  • North America held the largest share with respect to revenue generation in 2014 due to simultaneous development of next generation sequencing, personalized medicine and companion diagnostics in the region. Furthermore, high R&D investment as well as availability of technologically advanced healthcare research framework, is expected to serve as a critical factor for the North American region to register considerable growth over the forecast period. 

  • Presence of significant developments by China and Japan for technological integration, and the development of healthcare infrastructure have poised the Asia Pacific oncology diagnostics market to witness lucrative opportunities of growth throughout the forecast period. Moreover, enhancements of clinical development frameworks in these economies to enable clinical research outsourcing as an effect of the availability of target population is a growth rendering driver in this region. 

  • Key players contributing significantly to the next generation cancer diagnostics market are Novartis AG, Cepheid, Roche Holdings AG, Perkin Elmer Inc., Sysmex Corporation, Abbott Laboratories, Thermo Fisher Scientific Inc., Philips Electronics NV, Agilent Technologies Inc., Illumina Inc., Genomic Health Inc. Qiagen, Johnson & Johnson, Hologic Inc., Myriad Genetics Inc., Almac Group Limited, Opko Health Inc., and GE Healthcare.

  • These entities are involved in collaborations with oncology research organizations and clinical research institutes in order to gain access in the oligopolistic 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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For More Information, Visit Grand View Research

Contact:
Sherry James
Corporate Sales Specialist, U.S.A.
Grand View Research, Inc.
United States
Phone:  1-415-349-0058
Toll Free:  1-888-202-9519
Email:  sales@grandviewresearch.com