Thursday 28 April 2016

Fireproof ceramics market size is expected to reach USD 6.44 billion by 2022: Grand View Research



The global fireproof ceramics market is expected to reach USD 6.44 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for ceramic fibers in various applications including repair for furnaces; and insulation in power plants, thermal reactors and turbines is expected to drive market growth. The growth of these end-user industries is expected to further propel industry expansion. 


Fireproof ceramics were widely used in the iron & steel industry accounting for over 30% of the global value market share in 2014.The products are used mainly in the form of modules. Apart from these, ceramic fiber boards and textiles are also consumed widely in this industry. Rising production output of iron & steel due to high demand in its various end-use industries including automotive, construction, aviation and marine is expected to consequently fuel market growth. 


The global market for fireproof ceramics was valued at USD 2.87 billion in 2014 and is expected to witness growth over the forecast period on account of rising manufacturing facilities in rapidly developing markets of Asia Pacific. Increasing demand from end-user industries such as petrochemicals, iron & steel, and aluminum, particularly in Asia Pacific and MEA, is expected to fuel market growth. 
 



Further key findings from the report suggest:

·         Market for fireproof ceramic blanket was estimated at USD 904.2 million in 2014. Ceramic fiber blankets are suitable for temperatures as high as 2300°F. Lightweight, low thermal conductivity& heat storage, high temperature stability, excellent handling strength & fire protection, thermal shock resistance, and chemical & corrosion resistance are some properties due to which fireproof ceramic blankets are preferred.The fireproof ceramics market in petrochemicals was estimated at USD 649.1 million in 2014. These products are used in petrochemicals in fired heaters, sulfur recovery units, and boilers. They are also used as insulation for pipelines, turbines, and fittings in the petrochemical industry. Growing demand for downstream products such as oils and polymers is expected to drive petrochemicals market development over the forecast period.

·         Asia Pacific accounted for over 35% of the global market in 2014 and is expected to witness immense growth in light of increased government spending on the manufacturing sector and increasing opportunities for FDI in China and India. Growing demand for petrochemicals and iron & steel is expected to drive growth.


·         Middle East & Africa is expected to witness substantial growth at a CAGR of 10.7% from 2015 to 2022.Iran is one of the major steel producers in Middle East region and produced 14.9 million tons of crude steel in 2014. The country is projected to produce 52 million tons of crude steel by 2025.The increase in production of steel in Iran is expected to drive fireproof ceramics over the forecast period.

·         Key industry players include Morgan Thermal Ceramics, Zircar Ceramics, Skamol A/S, Ibiden Co., Ltd., Unifrax Corp., Isolite Insulation Products Ltd. and Rath Inc. These companies focus on R&D for product development to enhance their fireproof ceramics portfolio.





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

Wednesday 27 April 2016

Ethyl levulinate market size is expected to reach USD 11.8 million by 2022: Grand View Research



The global ethyl levulinate market is expected to reach USD 11.8 million by 2022, according to a new report by Grand View Research, Inc. The global industry is in its nascent stage and is characterized by few industry participants. Presence of very few manufacturers gives a competitive edge over new entrants. Industry participants as well as governments have been extensively investing in R&D to develop novel applications as well as cheaper raw materials. Potential applications such as bio-diesel additive are expected to positively impact the market. 


Prolonged exposure to ethyl levulinate may cause dizziness, eye irritation, lung damage, coma and behavioral changes. Such toxic effects are presumed to expose ethyl levulinate industry to several regulations, thus constricting market growth and development. Several R&D initiatives are being taken by government to come up with cheaper raw material for ethyl levulinate production. This is projected to create ample opportunities for this industry over the forecast period. 

 


Further key findings from the report suggest:

  • Global ethyl levulinate market demand was 32.4 tons in 2014 and is expected to reach 49.1 tons by 2022, growing at a CAGR of 5.3% from 2015 to 2022

  • Fragrances market is expected to witness the fastest growth at an estimated CAGR of 5.7% over the forecast period. This growth can be attributed towards rapid development of personal care industry particularly in emerging economies of Asia Pacific and Latin America. Recent advances by pharmaceutical industries that use fragrances to reduce stress and depression among people is also expected to assist the market over the forecast period.


  • Asia Pacific emerged as the leading regional market and accounted for over 30% of the total market in 2014.Countries such as India and China are anticipated to lead their regional market over the next seven years. Rising urbanization along with dynamic lifestyle among consumers in the region is expected to create ample opportunities for ethyl levulinate.

  • Changing consumption pattern among people in developing region such as Middle East & Africa and Central & South America is expected to assist the overall market over the next seven years.


  • Major ethyl levulinate market participants include Sigma Aldrich, Alfa Aesar, Oakwood Products., Inc, Indukern F&F Ingredients Division, Tokyo Chemical Industry Co., Ltd, Axxence Aromatic and Ventos. The market is oligopolistic in nature and there is a high threat for new entrants to enter the market over the forecast period. Potential applications such as diesel miscible bio-fuel are expected to positively affect the 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

Vetiver oil market size is expected to reach USD 169.5 million by 2022: Grand View Research



The global vetiver oil market is expected to reach USD 169.5 million by 2022, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period on account of its profound usage in applications including fragrance, pharmaceutical, and food & beverage. 


Growing use of the oil in fragrance industry on account of its unique odor is expected to propel demand over the forecast period. The product has widespread usage in various applications including perfumes, deodorants, cosmetics, lotions as well as soaps. In addition, the compound has extensive usage in the aromatherapy applications owing to its smooth & light fragrance, thus promoting its growth over the next seven years. 


The product is available in various grades based on its place of origin including Haiti, Java, and India. Haitian vetiver dominated the market in terms of production volumes followed by Java and India. The increasing use of Java vetiver in fragrance & flavor industry is expected to propel demand which in turn is likely to boost production volumes. However, high product cost associated with the product on account of complex production techniques is expected to hamper growth over the next seven years. 

 


Further key findings from the report suggest:

·         Fragrance segment accounted for over 45% of the overall market share in 2014. The product has widespread usage in perfumery applications on account of its chemical composition, odor, and high solubility. Increasing demand for the essential oil in fragrance industry on account of its smoky and earthy aroma is expected to favorably impact growth.

·         Food & beverage segment accounted for over 25% of the overall market in 2014. Rising demand for the product as a flavoring agent in syrups & ice creams and food preservation is likely to have a positive impact on market growth. Growing demand for the compound in new cuisines which utilizes various essential oils in food & beverage application is expected to promote growth over the next seven years.


·         Asia Pacific is expected to witness substantial growth, growing at a CAGR of over 17.0% from 2015 to 2022. Vetiver oil is used to manufacture perfumes and varied fragrant materials which include aromatic wax, aromatic kaolin, potpourri, and aromatic soap. Furthermore, increasing use of vetiver oil in the pharmaceutical industry owing to its anti-inflammatory, vulnerary and healing properties of the product is expected to have a positive impact on market growth.

·         Leading companies such as Frager SA emphasize on harvesting and processing of plants in compliance with sustainable farming techniques. The company emphasizes on strategies such as low operating costs, direct distribution, and technological advancements, which enables it to cater demand from emerging economies such as China, and Brazil.





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