Thursday, October 27, 2022

Electronic Adhesives Market Touching Impressive Growth by 2029 | Consistently Increasing Demand and Adoption of Smartphones to Expand Market Share

 The global electronic adhesives market size is set to gain momentum from steady growth in the electronics market. This information is given by Fortune Business Insights™ in an The global electronic adhesives market size is set to gain momentum from steady growth in the electronics market. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Electronic Adhesives Market, 2022-2029.” Additionally, the next generation 5G networks expansion, upgrading demand for consumer goods, and the rising requirement of smartphones and other electronic devices to create a boom in the electronic industry and drive the market in forthcoming years. The demand for smartphones and electronic device is expected to be always on peak which would surge the rise in market share.

COVID-19 Impact-

Sudden Lockdown Disrupted Supply Chain and Resulted in Raw Material Shortage

The sudden lockdown announcement caused severe harm to the markets. Only the essential needs market can be opened and the switchgear market is not included in the essential need criteria which resulted in continuous shutdown of the industry. The constant shut down of industry resulted in demand and supply chain. The raw materials supply was shaken and thus, production had a standstill for a long time.


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Segments-

On the basis of form, the market is split into liquid, paste, and solid.

Based on resin type, the market is segregated into epoxy, silicone, acrylic, PU, and others.

Depending on the application, the market is segmented into computers & servers, communications, consumer electronics, industrial, medical, automotive, and commercial aviation.

Geographically, the market is bifurcated into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa.

Report Coverage-

The report provides in-depth insights of the market in every possible aspect such as opportunities, drivers, restraints, competitors, etc. market challenges which may acquire markets have been depicted in the report. The report also represents market analysis of segments and its sub-segments along with the market trends and growth factors. Factors which may hinder the market in upcoming time have been described. Major growth opportunities and strategies incorporated in the market are elaborated in the report.

Drivers & Restraints-

Consistently Increasing Demand and Adoption of Smartphones to Expand Market Share

The steady growth in the electronics market to fuel the growth and enhance the electronic adhesives market share during the forecasted time. The next generation 5G networks expansion, upgrading demand for consumer goods, and the rising requirement of smartphones and other electronic devices to create a boom in the electronic industry and drive the market in forthcoming years. 

Whereas, the fluctuating price of the raw materials impacts the overall market size. The fluctuation in price has become the cause of limiting market growth.

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Regional Insights-

Asia Pacific to Anticipate Maximum Growth Due to Rise in Product Demand in Medical Industry

Asia Pacific to witness the sustainable growth in the market of electronic adhesives. The rising product demand in the medical industry will surge the electronic adhesives market growth. Moreover, Europe is following Asia Pacific in the global market backed by the rising adoption of electronic adhesives from consumer electronics and communications. The U.S. and Canada will push North America to bolster growth. The rising product demand in the automotive and industrial markets to be the major cause of North America’s growth. 

Competitive Landscape-

Key Players Striving to Expand Their Product Portfolio to Gain Competitive Advantage

The global market is occupied by large, small, and medium sized organizations that focus on launching the new advanced products to cater market growth of electronic adhesives. Many key companies are focused on collaborating with other organizations to gain better insight of the market along with expansion in the market of electronic adhesives. Born2Bond company introduced a bonding application which would surge the company in expanding its portfolio of products.

Industry Developments-

  • June 2019- A new innovative engineering adhesives range, Born2Bond was introduced by Bostik. This product is designed for the bonding applications, ‘by-the-dot’ in selected industries, for example luxury packaging, MRO, automotive, and electronics. This launch will boost the company in expanding its product portfolio.

List of Key Players Present in the Market:

  • M Company (UAE)
  • Alent PLC (Surrey)
  • BASF SE (Germany)
  • H.B. Fuller Company (U.S.)
  • Henkel AG & Co. KGaAIndium Corporation (Germany)
  • LG Chemical Limited (South Korea)
  • Mitsui Chemicals (Japan)
  • Hitachi Chemicals Company Limited (Japan)
  • The Dow Chemicals Company (U.S.)
  • Kyocera Chemical Corporation (Japan)

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Japan Organic Pigment Dispersions Market Growing environmental concerns are driving the product demand

 In a recently published report by Fortune Business Insights™, titled, "Japan Organic Pigment Dispersions Market Report 2022", the analysts have provided an in-depth overview of the Japan Organic Pigment Dispersions Market. The report is an all-inclusive research study of the Japan Organic Pigment Dispersions market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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The global Japan Organic Pigment Dispersions market size was estimated to be worth USD 0.37 billion in 2020. The market valuation is expected to rise from USD 0.39 billion in 2021 to USD 0.53 billion in 2028 at a CAGR of 4.3% over the projected timeline. Growing environmental concerns are driving the product demand across industries. The rising demand for sustainable dispersions across applications, such as paints, coatings, and inks, will propel the market forward, states Fortune Business Insights™ in its report titled “Japan Organic Pigment Dispersions Market, 2021-2028”.

This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Organic Pigment Dispersions Market Report:

  • BASF SE (Germany)
  • DIC Corporation (Japan)
  • Sudarshan Chemical (India)
  • Chromaflo (U.S.)
  • Cabot Corporation (U.S.)
  • Heubach GmbH (Germany)
  • Penn Colors (U.S.)
  • Pidilite (India)
  • Lanxess (Germany)
  • DyStar Corporation (Singapore)

Most Important Features in this Report:

1. Detailed market study of the Japan Organic Pigment Dispersions  market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Organic Pigment Dispersions  Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Organic Pigment Dispersions  Market:

The Japan Organic Pigment Dispersions  research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Organic Pigment Dispersions Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Organic Pigment Dispersions Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Organic Pigment Dispersions Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Organic Pigment Dispersions  Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Wednesday, October 26, 2022

Japan Architectural window films Market USD 4.59 billion by 2029 at a CAGR of 4.6% during the forecast period

 In a recently published report by Fortune Business Insights™, titled, "Japan Architectural window films Market Report 2022", the analysts have provided an in-depth overview of the Japan Architectural window films Market. The report is an all-inclusive research study of the Japan Architectural window films market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain insight into the overall present and future market scenario.

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The global Japan Architectural window films market size was USD 3.22 billion in 2021. The market size is expected to rise from USD 3.34 billion in 2022 to USD 4.59 billion by 2029 at a CAGR of 4.6% during the forecast period. The market is projected to grow during the forecast period due to the increasing adoption of switchable smart films. Fortune Business Insights™ publishes this information in a report titled, "Japan Architectural window films Market, 2022-2029".

This research contains in-depth information on emerging trends, market drivers, development opportunities, and market restraints that have the potential to affect the dynamics of the market. The study assesses the market size of the industry and examines the key international players’ approach trends. The research also assesses the market’s size in terms of revenue during the predicted period. All data numbers, such as percentage share splits and breakdowns, are derived from secondary sources and double-checked with primary sources. To examine the industry’s primary influencing variables and entry obstacles, the report conducted Porter’s five forces analysis, SWOT analysis, regulatory landscape, and prominent buyers.

Key Players in the Japan Architectural window films Market Report:

  • SAINT-GOBAIN (France)
  • 3M Company (U.S.)
  • Eastman Chemical Company (U.S.)
  • Avery Dennison Corporation (U.S.)
  • LINTEC Corporation (Japan)
  • Toray Plastics (America) Inc. (U.S.)
  • Madico Inc. (U.S.)
  • Reflectiv (France)
  • Garware Suncontrol (India)
  • Dexerials Corporation (Japan)
  • Armolan Window Films USA (U.S.)

Most Important Features in this Report:

1. Detailed market study of the Japan Architectural window films market
2. Changing industry competitive landscape
3. Detailed competitive categorization
4. Historical, current, and forecast market size in quantity and value
5. Recent industry trends and developments
6. The Japan Architectural window films Market’s Competitive Landscape Key Players’ Strategies and Product Portfolio
7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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Regional Segmentation of the Japan Architectural window films Market:

The Japan Architectural window films research examines the market size, sales, segmentation, and a complete examination of geographies, with a focus on the industry’s top suppliers. Similarly, the study employs a cutting-edge research technique to provide data on market trends in a number of key sectors of the industry. The research study also examines the market size and volume at the global and local levels. Following is the Regional Segmentation:

» North America
» Europe
» China
» Asia-Pacific
» Japan

The report studies the Japan Architectural window films Market by assessing the market chain, current policies, and regulations, as well as manufacturers, their manufacturing chain, cost structures, and contribution to the industry. The regional market for the Market is examined by analyzing the price of the products in the region in relation to the profit generated.

Marketing Statistics:

The Global Japan Architectural window films Market Report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with advertising, advisors, and industry decision-making processes in the Market. This report provides essential data from the industries to guide new entrants in the global Market.

Market Dynamics:

The report shows details related to the most dominant players in the global Japan Architectural window films Market, along with contact details, sales, and accurate figures for the worldwide market. Various data and detailed analyses collected from various trusted institutions of the global market are presented in the Research Report.

Table of Content – Analysis of Key Points Analysis:

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Japan Architectural window films Market Industry Analysis
Chapter 5. Market by Type
Chapter 6. Market by Application
Chapter 7. Market Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process

Continued…

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Contact Us:

Fortune Business Insights™ Pvt. Ltd.

Email: sales@fortunebusinessinsights.com 

Food Grade Acetic Acid Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2029

 The global food grade acetic acid market size is anticipated to witness significant growth in the coming years. The rising adoption of anaerobic fermentation across the food industry, coupled with the swift expansion of food industry, is anticipated to fuel the market growth. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Food Grade Acetic Acid Market, 2022-2029”. Food grade acetic acid is a clear liquid with no color, and is used as a chemical agent for descaling.

The increasing application of food grade acetic acid in commercial and household application is anticipated to be a key trend flourishing in growth for the market.

COVID-19 Impact-

The unprecedented propagation of the coronavirus pandemic has suppressed the market growth to a limited extent. The shutdowns or limited operations of restaurant, food chains, and other facilities hampered the market growth due to low demand for food grade acetic acid. The fear of contracting the virus through food ordered from outside resulted in shrunken demand for the product. Nonetheless, the swift adaptation to providing hygienic food helped the market recover. The growth of the online food delivery platforms is likely to aid market growth.

Segmentation-

On the basis of application, the market is fragmented into commercial, household, and others. On the basis of type, the market is segmented into anaerobic fermentation, aerobic fermentation, and others. Geographically, the market is classified into Latin America, Europe, Asia Pacific, North America, and the Middle East & Africa.

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Report Coverage-

  • It provides a thorough breakdown of the market’s competitive landscape.
  • It highlights the latest developments occurred in the most recent years.
  • It covers regional analysis across various geographies.
  • It highlights various market segments- application, type, and others.
  • It covers a thorough analysis of the COVID-19 pandemic’s impact on the market.

Drivers & Restraints-

Swift Expansion of Food Industry to Propel Market Growth

The improving income levels, urbanization, and establishment of new restaurant and hotel chain are expected to boost the global food grade acetic acid market growth. Food grade acetic acid is found as a food ingredient in sauces, salad dressings, marinades, mustard, milk, poultry, meat, and other various food products. Food grade acetic acid in vinegar form can be used in malt, rice, wine, and other products. It is widely used in commercial and household applications. The improving income levels, urbanization, and establishment of new restaurant and hotel chain are expected to boost the global food grade acetic acid market growth. The swift expansion of the food industry is anticipated to fortify the market growth in the coming years. Additionally, the expansion of online food delivery platforms will aid market growth in the forthcoming years.

However, the harmful impact of food grade acetic acid on human health may hinder the market’s growth.

Regional Insights-

Rapidly Expanding Food Industry to Promote Growth in Asia Pacific

Asia Pacific is projected to attain a major food grade acetic acid market share. The rapidly expanding food industry is anticipated to benefit the market’s growth.

North America is anticipated to witness substantial growth due to growing adoption of aerobic fermentation in household sector. Canada and the U.S. are expected to lead the growth in North America.

The growing adoption of anaerobic fermentation across the food industry is predicted to flourish in growth in the Middle East & Africa.

Competitive Landscape-

Key Players Take on Innovative Strategies to Expand their Businesses

The major market players emphasize production capacity expansions to cater to the growing demand for food grade acetic acid from the expanding food industry. The key players operate at international and regional levels, and focus on business expansion through mergers, acquisitions, collaborations, and other such strategies.

List of Key Market Players-

  • Navin Enterprise
  • Daicel Corporation
  • LyondellBasell
  • Celanese Corporation
  • British Petroleum
  • DuPont
  • Eastman Chemical Company
  • Wacker Chemie
  • Saudi International Petrochemicals
  • Mitsubishi Chemical Corporation

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Friday, October 21, 2022

Tertiary Amyl Methyl Ether Market Leading Players, Segments Analysis and Growth by Forecast to 2029

 The global tertiary amyl methyl ether market size is expected to gain momentum owing to its stringent regulations set by government during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Tertiary Amyl Methyl Ether Market, 2022-2029.” Rising fuel consumption in various industries such as oil & gas and marine is predicted to boost demand for the market. For instance, Honeywell announces a partnership with Lukoil to create clearer burning high octane fuels that meet the class 5 criteria in Russia.

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COVID-19 Impact-

The COVID-19 pandemic infected millions of people globally, prompting major countries to impose Lockdown and curb industrial activities. Many uncertainties and disadvantages exist because most oil-producing countries have been quarantined to stop the spread of the virus.

Segments-

By type, the market is segmented into MTBE, ETBE, TAEE, and TAME. On the basis of application, the market is segregated into fuel additive, chemical intermediate, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

What does the Report Offer?

The report examines global and regional market trends, as well as the market's overall growth prospects. It also provides insight into the market's overall competitive landscape. The research also includes a dashboard analysis of major organizations for their successful marketing strategies, market participation, and current developments.

Drivers & Restraints-

Increasing Incidence for Ether to Stimulate Growth

Tertiary amyl methyl ether is a type of ether that is used as an oxygenated gasoline additive. It is made from the C5 distillation of naphtha, and unlike most ethers, it does not require stabilizers during processing. The market is expanding due to increased demand for ether compounds. The increasing demand for ether compounds is expected to boost the global teritary amyl methyl ether market growth during the forecast period.

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Competitive Landscape-

Manufacturers Focus on R&D Investments to Offer Advanced Products

Competitor breaks down the market’s competitive landscape. Corporate overview, finances, income generated, market potential, investment in R&D, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, and application domain are among the details presented.

Industry Development-

  • July 2019: William Luyben devised a new control system in both a centralized and decentralized scheme to manufacture tertiary amyl methyl ether employing reactive distillation.

List of Key Players Profiled in the Global Market for tertiary amyl methyl ether:

  • Triveni Interchem pvt ltd
  • BASF SE
  • Eastman Chemicals Company
  • Petroliam Nasional Berhad

REGIONAL INSIGHTS

Asia Pacific to Remain Dominant; Increasing Demand for Fuel to Propel Growth

Asia Pacific is expected to hold the largest global tertiary amyl methyl ether market share during the forecast period. This is due to the increasing demand for fuel in Asian countries that is likely to propel the demand for tertiary amyl methyl ether as a fuel additive. To meet the growing demand around the world, prominent manufacturers are focusing on expanding production capacity, mostly in China and India.

The market in North America is expected to showcase significant growth during the forecast period. This is due to the mandatory use of oxygenating compounds in fuel to increase this region’s demand. The removal of restriction over the mandatory use of oxygenating compounds in the US Energy Bill of 2005 led to a decrease in demand for Tertiary-Amyl Methyl Ether.

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Flat Glass Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2026

According to a recently published report by Fortune Business Insights The global flat glass market is likely to gain traction from the rapid industrialization. It is driving the demand for flat glass as they are being used extensively in the commercial buildings to conserve energy. It is done by maximizing the usage of natural light. Fortune Business Insights™ provided this information in a recent report, The report further states that the flat glass industry share was USD 98.37 billion in 2018 and is projected to reach USD 153.21 billion by 2026, exhibiting a CAGR of 5.7% during the forecast period.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Drivers & Restraints-

Rising Government Initiatives to Promote Energy Efficiency will Drive Growth

Flat glass is gaining popularity in the building & construction industry owing to its ability to provide excellent thermal insulation and acoustic insulation. Also, the increasing number of infrastructural development and construction activities would contribute to the flat glass market growth in the near future. 

Furthermore, the rising utilization of flat glass in commercial and residential buildings is enabling the usage of natural light and is reducing the consumption, as well as the cost of artificial lights. The governments of various countries are also implementing various stringent norms and regulations to promote energy efficiency. Researchers say that buildings adopting these rules are consuming approximately 40%-60% less energy, unlike the conventional buildings. However, the decomposition of raw materials and combustion of fuel oil often emit carbon dioxide in the atmosphere. It may obstruct the market growth. 

Segment-

Ability to Improve Solar Gain will Drive Growth of the Coated Segment

Based on product type, the market is categorized into toughened, laminated, extra clear, coated, and others. Out of these, in 2018, the coated segment held 23.9%flat glass market share. This growth is attributable to the possession of numerous beneficial properties of coated flat glass. These include enhanced self-cleaning, hydrophobic, anti-reflection, and insulation properties. Such glass aids in improving solar gain and in maintaining the heat inside the building. The laminated segment, on the other hand, holds the major share fueled by their upsurging demand from the construction and automotive industries. It is because they are capable of remaining intact when broken. 

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Regional Analysis-

Asia Pacific to Remain at the Forefront Stoked by Rising Infrastructural Development

Geographically, the market is divided into the Middle East and Africa, South America, Asia Pacific, Europe, and North America. Amongst these, Asia Pacific generated USD 53.41 billion in 2018in terms of market revenue. This growth is mainly attributable to the rising investments by the governments of various countries in infrastructural development, as well as construction activities. Besides, China, being the largest contributor to the demand for flat glass, would propel the overall growth in this region. North America is expected to grow considerably backed by the presence of various government regulations on constructing energy efficient buildings. 

Competitive Landscape-

Key Players Focus on the Strategy of Investment to Increase Sales 

The market consists of many companies. But only five companies out of those account for around 60% of the worldwide production capacity of flat glass. They are adopting strategies, such as the development of state-of-the-art technologies, superior operational efficiency, and diversified product portfolios to strengthen their positions. Below are two of the latest key industry developments:

  • September 2019: Guardian Glass invested huge sums in the modernization and upgradation of glass production lines in Hungary and the U.K. 
  • April 2018: Saint-Gobain acquired 50% stake in the flat glass production line ofJJG situated in the Shandong province of China to surge the former’s production capacity.

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Thursday, October 20, 2022

Carbon Nanotubes (CNT) Market Revenue In Japan| Carbon Nanotubes (CNT) Industry Future Growth, Trends and Top Key Players

The global ultrasonic testing market size is projected to reach USD 3,671.9 million by 2027, exhibiting a CAGR of 9.43% during the forecast period. The burgeoning startup culture in the non-destructive testing (NDT) domain will play a central role in fueling this market, postulates Fortune Business Insights™in its report, titled “Ultrasonic Testing Market Size, Share & COVID-19 Impact Analysis, By Type (Time-Of-Flight Diffraction, Phased Array, Immersion Testing, Guided-Wave Testing, Acoustography, and Others) By Equipment (Flaw Detectors, Thickness Gauges, Transducers & Probes, Industrial Scanners, Tube Inspection Systems, Bond Testers, Imaging Systems, and Others), By Service (Inspection Services, Equipment Rental Services, Calibration Services, and Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, and Others) and Regional Forecast, 2020-2027”. Testing and inspection are critical functions that operators and owners of capital have to perform to ensure the safety and reliability of equipment, machinery, and other assets. Startups have been steadily emerging over the past few years to fulfill these functions using NDT and ultrasonic testing (UT) technologies. For example, the Indian startup AAVRTTI has developed RUDI (Radar for Utility Detection and Imaging) to detect, identify, and map buried utilities. The company also offers other services, such as the localized detection of cable faults and underground pipe leakages. Inductosense, a startup domiciled in the UK, has been engaged in developing NDT solutions using ultrasonic testing. The company manufactures ultrasonic sensors to facilitate accurate monitoring of internal corrosion & erosion in pipelines and vessels. These advancements in asset testing technologies, heralded by fledgling startups, will create massive opportunities for this market.

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Russia-Ukraine War Implication

The Russia-Ukraine war could change the Carbon Nanotubes (CNT) Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Carbon Nanotubes (CNT) Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.

 The report states that the value of the market was estimated to be USD 2,297.2 million in 2019 and also shares the following:

  • Holistic evaluation of the various market drivers and trends;
  • Granular understanding of the challenges facing the market;
  • Unmatched segmentation of the market; and
  • Microscopic study of the competitive milieu and regional prospects of the market.

Restraining Factor

Revenue Shortfalls amid the COVID-19 Crisis to Quell Market Growth

With the coronavirus-induced global economic and health crisis unfolding with increasing intensity, the aviation industry is set to experience unprecedented revenue shortfalls. According to the International Civil Aviation Organization (ICAO), in the first half of 2021, airlines are likely to face potential gross passenger operating revenues between USD 163 billion and USD 194 billion. This is in addition to the USD 391 billion worth of losses faced by airliners in 2020. The ultrasonic testing market growth is also expected to suffer setbacks as a result of these financial stresses as the pandemic has severely disrupted investment plans of aircraft manufacturers and aviation technology providers. Furthermore, travel restrictions and the cancelation of flights have delayed the adoption of advanced UT technologies. For example, a recent report by the Organization for Economic Cooperation and Development (OECD) points out that a combination of supply shocks and negative demand has created widespread uncertainty in the aviation industry, thus delaying the deployment of next-generation technologies, such as ultrasonic testing, by airline companies. As a result of these developments, this market will display a negative CAGR of -14.9% in 2019 and reach a value of USD 1,954.4 million in 2020.

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Regional Insights

North America to Register Sterling Growth; Asia Pacific to Progress Promisingly

In 2019, the North America market size stood at USD 893.7 million, and the region is expected to bolster its growth trajectory during the forecast period on account of the rising employment of UT methods in the inspection of railway infrastructures. In addition, growing adoption of advanced testing technologies in the region’s robust aerospace industry will further boost the regional market.

Asia Pacific is anticipated to showcase the fastest growth in the ultrasonic testing market share in the forthcoming years owing to the huge investments in ramping up public infrastructure in India and the rapid expansion of the manufacturing industry in China. In Europe, the regional market growth will be aided by the increasing demand for these ultrasonic type of testing solutions in the automotive industry in Germany.

 Competitive Landscape

Lucrative Collaborations to Characterize Market Competition

The competitive landscape of this market is experiencing a period of prolific dynamism due to the increasing number of lucrative partnerships between aviation industry giants and key players in the UT market. These collaborations are aimed at developing inventive testing solutions for aircraft components, which in turn will entrench the market position of the collaborating entities.

Industry Developments:

  • September 2020: Element Sheffield announced the bagging of approval from the aircraft engine maker, Safran, for destructive testing services. The agreement follows the recent clearance from Safran to Element to deploy ultrasonic testing techniques for Safran’s components and materials.
  • January 2020:Novosound, a Scottish startup, secured a USD 4.3 million investment to develop and launch its first flexible thin-film ultrasound sensor for inspecting curved surfaces in June. The startup will be targeting the field of inspection and maintenance of aircraft with the introduction of this device.

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