Gear Pump Market Size and Forecast by Product Type & Application

09 January 2019, The Global Gear Pump Market size is projected to reach USD 2.32 billion by 2025. The growth is driven by increasing scope of application in construction, automotive, and agriculture industries. In addition, growth of oil and gas industry is expected to be a key factor driving the market, especially in U.S. and the Middle Eastern countries. Gear pump is predominantly used for displacement, transfer, and extraction of fluids in the oil and gas industry.

Technological advancements play a strategic role in fostering demand for gear pumps in different industries. Various innovations, such as development of double gear pumps with minimal number of parts and axial gauge, are reducing the production cost while increasing the process reliability.

Gear Pump Market

The integrated adaptive systems use computer assisted manufacturing, which increases the production quality and reduces the production time. For instance, Sumitomo Electric Industries, Ltd. designed Parachoid and Megafloid motors for improving efficiency of gear pumps. The advent of high-efficiency internal rotors has increased the efficiency and reliability of industrial operations.

External gear pump held 80.09% of the total market share in 2017. These are widely used as oil pumps in engines and as lubrication pumps in machine tools and fluid power transfer units. Favorable government policies in India and China to encourage investments in petrochemical and agrochemical production are expected to open new growth avenue over the forecast period.

Oil and gas segment led the global market in 2017 and is projected to expand at the highest CAGR of 4.4% during the forecast period. To meet the growing demand for oil, many companies are adopting techniques, such as microbial Enhanced Oil Recovery (EOR), CO2 injection, and thermal injection among others to increase oil production. This trend is expected to boost demand for technological advanced gear pump over the forecast period.

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Growing global population and demand for food are driving growth of agriculture industry. Nevertheless, changing lifestyle and increasing disposable income are creating a huge demand for residential construction and passenger cars. Thus, rapidly expanding construction, automotive, and agriculture sectors, especially in emerging economies including China and India, would drive the market.

The Europe gear pump market is expected to register a CAGR of 3.3% from 2017 to 2025. Increasing government initiatives for minimizing energy consumption and CO2 emission coupled with demand for cost-effective solutions and quality products are expected to propel the growth. Moreover, rising focus on R&D activities by key companies is expected to provide substantial business opportunities.

In emerging economies, such as China and India, lower product penetration and extensive applications are the key growth opportunity drivers. Many prominent large- and medium-scale enterprises are investing in manufacturing positive displacement pumps. Therefore, certain economies within the Asia Pacific and Middle East and Africa regions are anticipated to be lucrative markets for gear pumps over the next few years.

Major manufacturers in the gear pump market are Eaton Corp. PLC; Bosch Rexroth AG; Kawasaki Heavy Industries, Ltd.; Haight Pumps; Viking Pump, Inc.; Parker Hannifin Corp.; Albany Pumps. These companies engage in manufacturing internal and external gear pumps. Each of these companies has a broad product portfolio wherein different series and models of gear pumps are featured with various combinations of specifications.

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LED Lighting in Poultry Farming Market Worth USD 505 Million by 2025

08 October 2018, The global LED Lighting in Poultry Farming Market size is projected to reach USD 505.0 million by 2025. The ability of LED lighting to accurately and efficiently imitate the sunlight has augmented its demand in poultry farming. Moreover, continuous development in energy-saving capabilities and durability is expected to fuel market growth. In addition, rising awareness regarding the benefits of LED lighting in poultry is expected to drive demand over the forecast period.

There is also an increase in the number of poultry farms globally. For instance, in 2015, global poultry production was 111,000 thousand metric tons, which reached 118,080 thousand metric tons in 2017. Broiler growth, reproductive performance, durability, and reliability makes LED lights a suitable choice compared to incandescent, metal halide, fluorescent, and high-pressure sodium lamps. According to Brazilian Institute of Geography and Statistics, approximately 2.5 billion dozen eggs were produced in the year 2011, which marked an increase of about 3.2% as compared to the previous year.

A well-designed illumination system offers increased production according to birds’ biological responses to changes in color, intensity, and duration. Decreasing the duration of light in a day changes circadian rhythm of the birds and stimulates sexual maturity in adolescent birds. Use of red and green hues increases growth rate at early ages, while blue hues boost growth rates at later ages and decreases incidences of cannibalism. Manufacturers in LED lighting in poultry farming market are adopting strategies like Mergers and Acquisitions (M&A) and new product developments to sustain market competition. For instance, in August 2017, Greengage Lighting Ltd. acquired Isotera, a company engaged in manufacturing and designing innovative power and control system for LED lightning. This acquisition helped the company add value to its products and expand the product portfolio. In another instance, in June 2018, Once Inc., a leading manufacturer and supplier of agriculture-based lighting systems, announced the acquisition of iLOX GmbH.

Global LED lighting in poultry farming market size, by region, 2015 - 2025 (USD Million)

Global LED lighting in poultry farming market was led by North America and Europe in 2017. The two regions have considerable presence of many leading companies. However, Asia Pacific is expected to witness a higher CAGR over the forecast period. Growing production of domesticated birds coupled with government spending to create awareness regarding cost-efficient LED lighting system is expected to drive regional market.

Global LED lighting in poultry farming market is highly fragmented in nature. Increasing poultry meat production is expected to create business opportunities for new market entrants. Longer life and durability are expected to promote adoption of specific spectrum lighting in poultry farming. Some of the prominent market players are Greengage Lighting; Once, Inc.; Hybrite LED Lighting Ltd.; HATO BV; SUNBIRD; Big Dutchman; and Shenzhen Hontech-Wins Electronics Co., Ltd.

Key players analyzed:

    • Greengage Lighting

    • Once Inc.

    • Hybrite LED Lighting Ltd.

    • HATO BV

    • SUNBIRD

    • Big Dutchman

    • Shenzhen Hontech-Wins Electronics Co., Ltd.

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Global Advertising Market Size, Share, Analysis, Trends Report, 2025

The global Advertising Market has been on a consistent rise over the recent past, driven by a surge in marketing channels such as TV, radio, billboards, Internet, newspapers, mobile phones, and social networking sites. The primary use of advertising is to make customers aware of the presence of a specific product or service in the market.

Advertising can be on a domestic as well as global scale. A number of leading companies have been promoting their products and services on an international level, the benefits of which can be reaped on a domestic scale. Tourism is the perfect example of this technique. For instance, the Malaysia tourism ministry advertises in the Indian market to attract tourists and visitors.

Every industry benefits from promoting and marketing their offerings, be it telecom, automotive, manufacturing, agriculture, insurance, retail, tourism and hospitality, or real estate. These activities can help them launch new products and service; they can also help bring in new customers and retain existing ones. It also helps create a specific image of the company and its brand.

Advertising costs money and companies as well as countries are willing to spend in order to make the most of the several advantages it offers. The top spenders in the global industry are U.S., China, Japan, Germany, and U.K. Companies are also big spenders when it comes to marketing and promotions, not just to create a positive image but to expand their customer base.

Television is perhaps the most efficient and impactful medium of advertising, even though it is reportedly one of the most expensive channels. Radio is also prominent medium of promoting one’s products and services. Online advertising is the most recent forms of marketing, which is soon becoming one of the most popular channels as well. Social media marketing is an excellent example of online advertising.

Spending on digital adverts is anticipated to rise at a strong pace over the coming years, further boosting the global market. Industry-wise, banking and financial services are the most prominent end users of this form of marketing, with e-commerce, telecommunications, and travel following suit. Rising expenditure on social media, in addition to adverts on mobile phones via SMSs and in-app ads, has also given this medium a significant boost. Ads on mobile are considered to be creative, to the point, and clear. They are also known to garner better monetization.

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Mobile advertisements have significantly contributed to the overall market in recent years, primarily thanks to a sudden growth spurt in the mobile ad market in China. At the pace this segment has been growing, it is expected to surpass television as the most used and most impactful medium over the next three years. With Internet users switching from desktops to mobile devices, online advertisements are witnessing a similar switch.

However, it has also been noted that companies relying solely or mostly on marketing through mobile channels could be restricting their customer base as well as their share in the industry. Research has shown that traditional modes of promoting products and services, such as television ads, are still more effective when it comes to recall. While mobile ads can surely aid brands in achieving short-term performance, they are currently less effective in generating long-term awareness among potential customers. Hence, brands should invest in a balanced technique that optimally utilizes the advantages of traditional as well as new methods of marketing.

Asia Pacific has been a rather lucrative market, driven mainly by China, which is known to be second-largest ad market in the world. India, one of the fastest growing ad markets in Asia, is also a major contributor to APAC’s success in this industry. Some of the most advertised industries in this region are automobile, fast moving consumer goods (FMCG), and e-commerce. In countries like India, even though traditional media such as television and print are still quite popular, spending on digital advertising has been on a consistent rise.

There are certain risks every company faces while marketing its product or services. Overspending on advertising can indirectly hike the price of the product. Confusing, inappropriate, vague, or false advertisements can have an adverse impact on existing or potential customers. Companies, therefore, spend a lot of time and money on researching and understanding consumer needs, preferences, and behavior patterns when it comes to choosing the most appropriate medium for marketing. Creativity also plays a key role in this industry.

Some of the major players in the advertising market are Ogilvy & Mather, IDEO, Fuel Online, Leo Burnett, JWT, BBDO, Wieden + Kennedy, Forza Migliozzi, McCann, and Razorfish.

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Animal Feed Enzymes Market Analysis, Market Size, Forecasts, 2015 To 2022

The global Animal Feed Enzymes Market size is expected to witness tremendous growth over the coming years owing to growing meat consumption. These food supplements help in enhancing nutritional value in bodies of farmed animals, who do not receive sufficient value from regular meals. These nutrients include vitamins, amino acids, minerals, and fatty acids.

Improper nutrition in animals can lead to improper growth. Animal feed nutrition is not only influenced by these enzymes but also other factors, which include food presentation, hygiene, digestibility, and intestinal health. These products are widely used in animal husbandry. Consumers eat meat to enhance their daily nutrient content. Poultry products such as eggs are highly popular for their protein content and are widely used in cakes and confectionaries.

Meats from domesticated birds and cattle are consumed in regular meals in several parts of the world. Rise in the global population is, thus, working in favour of the market. Mounting cases of diseases among animals are expected to augment the market in the future. Frequent animal epidemics have made it imperative to look after cattle health and nutrition. Epidemics including swine flu and bird flu adversely impact the meat industry. Balanced diet through additional supplements can be an aid in controlling disease rate

Food outlets including Domino’s, McDonalds, Pizza Hut, and Subway have been expanding their network using franchise model. Meat is an essential component in their meals. These food joints have been setting high quality standards for meat requirement and therefore, anticipated to fuel the global demand for animal feed enzymes over the forecast period.

Growing inclination of consumers towards ready-to-eat and frozen food products is encouraging development of frozen meat. This, in turn, is also escalating the growth of the animal feed enzymes market. On the flip side, high costs of these enzymes coupled with low cost of natural substitutes such as fodder, maize, and corn can limit the growth of the market during the forecast period. In addition, some animals tend to show allergic reactions to these enzymes upon their unregulated consumption. Intestinal upsets and infections are some of the common symptoms seen in cattle.

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Food agencies are playing a vital role in monitoring usage of these agents. Manufacturers are held directly responsible for safety of their consumers and, therefore, it is necessary to add these enzymes in permissible quantities. FDA is the governing body in the U.S federal state safeguarding public health.

As per the EU Regulation 1831/2003, all feed additives in the European Union market have to undergo approval process. Products undergoing approval as an additive usage are evaluated by the European Food Safety Authority (EFSA) and the European Reference Laboratory.

Criteria for evaluation includes animal safety and also its security with respect to consumers and factory workers. Additives denoting enhancement of zoo technical performance need to provide sufficient empirical data to confirm their statement.

Advent of improved refrigeration techniques have promoted export of meat to western countries from Central America, Europe, and Asia Pacific. This has given rise to many cattle breeding centres in Asia Pacific and Europe focusing on upbringing cattle for export purposes. This market trend is estimated to provide several growth opportunities in countries such as France, Australia, New Zealand, and Mexico.

Chemical composition of animal feed enzyemes can be classified into carbohydrase, protease, and phytase. Phytase is a commonly used chemical composition. Sensory, nutritional, and zootenical are some of the key purposes for which these enzymes are used. Sensory products are those that stimulate appetite and therefore, improve diet intake. Nutritional supplements provide specific nutrients including vitamins and amino acids. Zootechnical products do not give any significant benefits directly, but improve the diet value.

Europe is likely to account for a sizeable share in the global animal feed enzymes market over the forecast period on account of developed cattle breeding and dairy industries. The Mediterranean region is renowned for animal husbandry and established as a major market in Europe.

North America is projected to register significant growth during the forecast period on account of growing meat consumption. Asia Pacific is poised to observe rapid growth owing to increasing dependence of population on poultry products. Africa and South America are anticipated to exhibit sluggish growth with respect to other regions on account of lack of awareness and traditional animal food implementation methods.

Key players operating in the global arena are BASF Danisco, Adisseo, Alltech, DuPont, Kemin, Novozymes, Belden, and AB Vista, among others. Market leaders are involved in research and development activities in order to improve livelihood of farmers. For instance, DuPont provides unique solutions for several species, which includes poultry, pigs, and ruminants, which can increase milk yield and milk fat.

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Digital Pathology Market Analysis, Market Size, Forecasts, 2015 To 2025

The global Digital Pathology Market is expected to experience brisk growth over the forecast period owing to a rapid increase in cancer cases. Benefits such as easy consultation and accurate results are estimated to support the growth of the market.

Digital pathology is an image-based data system linked with computer technology, which manages information produced from a digital slide. It is also referred to as virtual microscopy that involves capturing, managing, analyzing, and interpreting digital data from a glass slide. The process includes generating glass slides and converting them to digital slides by using digital solutions such as scanning. A digital slide image document is then generated that allows high-resolution image viewing, analysis, and interpretation

These devices can be easily transported from one place to another, which makes their implementation in several clinics & healthcare centers easier and simpler. Moreover, rising awareness regarding benefits of the procedure is anticipated to stoke the growth of the market. Demand for drug innovation and development is likely to positively impact the industry over the coming years. Besides this, technological advancements and development of companion equipment are projected to supplement the growth of the market.

Its ability to augment work efficiency and understanding and handling ease is poised to motivate its usage for health-related decision making. Superior characteristics such as easy transportation and high system efficiency help doctors and other healthcare professional to diagnose disorders even in isolated regions within the body. This system helps real-time decision making and provides effective workflow.

Several advantages such as cost reduction after its implementation, high reliability in decision making, fast & accurate test results, and efficiency in analysis are expected to fuel its demand over the forecast period. Cost reduction is achieved by minimizing data and slide delivery cost and by reducing procedure costs.

Stringent government rules and regulation are estimated to hamper the growth of the market over the forecast period as its implementation requires proper approval. Conservative attitudes towards usage of such systems and dependency on alternative methods for pathology test are anticipated to limit the market from realizing its utmost potential. Huge cost and massive initial investments are anticipated to have a negative impact on the growth of the market.

Some of the major challenges faced by the market are issues related to interoperability and industry standardization as formats mostly differ from region to region. On the other hand, affordable scanners for private pathology learning are likely to shape the future of the market. Penetrating into new applications such as biopharmaceuticals and drug toxicology study is projected to open new avenues for industry participants.

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Scanners, digital pathology information management systems, information storage devices, visualizing software, image analysis platform, web-based communication mode, and cloud-based delivery systems are some of the common products used for digital pathology. There are several application areas for this market, which can be mainly classified into human pathology and animal pathology.

Human pathology includes pharmaceuticals & biotechnology companies, training & education, hospitals, academic laboratory centers, and reference laboratories. On the other hand, animal pathology includes government and academic research institutes, biotechnology & pharmaceuticals companies, and contract research organizations.

Developed regions such as North America and Europe are at the forefront of the market. These regions will continue to account for a sizeable share in the market over the forecast period. The growth of the market in North America can be attributed to constant R&D initiatives along with product innovation leading to better product development.

Emerging regions such as Asia Pacific are poised to witness significant demand for this system over the forecast period. The region is expected to rise at a lucrative CAGR over the forecast period due to increasing awareness regarding advantages of digital pathology. Developing countries such as Brazil, China, and India are estimated to be sights of high growth rates in the global arena.

The digital pathology market is highly cost intensive and requires heavy initial investment for installation purpose. Market participants are investing heavily in research and development initiatives to have a competitive advantage over their contemporaries and develop novel products. Prominent industry participants include 3dhistech Ltd.; Aurora Interactive Ltd.; Definiens AG; Hamamatsu Photonics K.K.; Indica Labs, Inc.; Leica Biosystems, Gmbh; Mikroscan Technologies, Inc.; Huron Technologies International, Inc.; Objective Pathology Services Ltd.; Xifin, Inc.; Pixcelldata Ltd.; Ventana Medical Systems, Inc.; ApolloPacs, Inc.; Corista LLC; Digipath, Inc.; Kanteron Systems; Ligolab, LLC; Nikon Instruments, Inc.; Omnyx; LLC ;Pathol Ltd.; Sunquest Information Systems, Inc.; and Visiopharm.

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Automotive Brake System Market Size, Analysis, Strategies, Forecasts, 2015 to 2025

The global Automotive Brake System Market is primarily fueled by soaring demand for automobiles. This demand has been greatly spurred by global population explosion, better standards of living, rise of the middle class, and easier finance options. Mass production techniques used by automobile manufacturers and lower manufacturing cost has also boosted the production of passenger cars. This increase in demand for as well as supply of passenger cars has increased demand for efficient and reliable braking systems.

Growing focus on vehicle safety has also significantly benefited the market. Technologies such as traction control system (TCS), anti-lock braking system (ABS), electronic stability control (ESC), and regenerative braking have been developed in the last decade, and continuous development of such technologies are sure to drive the market. However, higher cost of developing these technologies can act as a restraint to industry growth.

There are two main types of brakes used: disc and drum. While disc brakes are mostly preferred in passenger vehicles, they also find application in commercial vehicles in Europe. Although drum-based systems are rather popular among auto manufacturers owing to their cost-effectiveness, disc-based variants are known to be more superior in terms of braking power.

Automotive brake systems find application in heavy commercial vehicles, passenger cars, two wheelers, and light commercial vehicles. Increasing demand for passenger cars, which can be attributed to rising disposable income and improved standards of living, is expected to propel demand for automobile braking solutions over the forecast period. Growing R&D investments by light and heavy commercial vehicle companies in order to improve vehicle safety is also expected to have a positive impact on market growth.

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The Asia Pacific automotive brake system market is expected to register favorable growth over the coming years. Growing trade activity in emerging markets and thrust provided by various government initiatives to improve vehicular safety is expected to propel the market. Asia Pacific is poised to become the most promising and competitive auto manufacturing hub. Boost in economic activity will have a positive impact on demand for both commercial and passenger vehicles in the region, thereby leading to industry growth.

The auto industry in North America has been booming despite a notable decline in other manufacturing industries. The rise in the auto industry rests on the zero percent interest rate to boost auto sales. In order to cater to the surge in auto sales, frequent investments are being made, which is likely to benefit market growth.

The market in Middle East is slated to register higher growth during the forecast period compared to Europe and North America. Rising GDP and emergence of the middle class have led to increase in passenger car sales, which is expected to drive demand for automotive brake systems over the coming years.

Countries in Latin America, such as Brazil, Peru, Argentina, and Colombia, have also been experiencing a surge in car sales due to an expanding middle class and easier credit terms. Growth of the automotive industry in the region is primarily driven by the passenger car segment, followed by light commercial vehicles. Furthermore, rising R&D to improve vehicle safety and government initiatives regulating standards for automobile safety are expected to propel demand.

The global market is dominated by a few major players, such as Federal-Mogul Holdings Corporation, TRW Automotive Holdings Corp, Continental AG, Aisin-Seiki Co. Ltd, Akebono Brake Industry Co. Ltd, Halla Mando Corp, Brembo S.P.A, Valeo, and Haldex AB.

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Heat Treating Market Share, Size, Analysis, Growth, Trends and Forecasts to 2025

The global Heat Treating Market is an amalgamation of operations involving heating, holding, and cooling of metal in the solid state for the purpose of obtaining a particular desirable surface modification or metallurgical properties. The market is projected to grow over the forecast period owing to wide range of applications in various industry verticals. Heat treatment is used to achieve surface hardening, increase ductility and softness, obtain fine grain size, improve cutting properties of tool steels, and improve electrical and magnetic properties. Rising need to develop superior-quality products is one of the major factors driving the market growth.

The use of such processes help organizations improve the structural accuracy of metal products by increasing its tensile and yield strength. Several companies across industry verticals, such as automotive, aerospace, and general machinery, often consider heat treatment processes to develop high precision products. Most of the organizations are managing their manufacturing processes to improve the operational efficiency. Moreover, to make quality and cost-effective products that are competitive in the global markets, companies are now automating their industry operations.

As a part of an operational strategy, manufacturing industries are integrating these processes with their production lines to enhance the overall efficiency. However, the installation cost varies owing to specific requirements of different metals. Different furnace and temperature are required for treating a metal to improve its quality. Moreover, high initial investments may have a negative impact on the industry growth over the forecast period. On the other hand, increasing automation is expected to offer new growth opportunities for the global market over the years to come.

Improving the level of furnace maintainability and controllability by applying Internet of Things (IoT) concept and systems integration is an opportunity yet to be explored. Changing trends to use vacuum furnace instead of a blast furnace is on the rise owing to its benefits over the traditional furnace, such as eco-friendly nature and reduced carbon dioxide emissions. Services, equipment, and applications can be the major segments of the heat treating market. Services segment can include carburizing & carbonitriding, hardening, tempering, annealing, stress relieving, and quenching.

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Carburizing and annealing, selective hardening, batch type furnaces, vacuum furnace, deep freeze, high-speed tool steels, and salt bath furnaces are the major heat treating equipment types. The process finds applications in various industry verticals including automotive, aerospace, mining and exploration, metallurgical and machining industries, oil and gas, and military. The primary driver for the development of new equipment is rising need for shortening production cycles, reducing carbon footprint, and making the operation profitable through proficient use of utilities. Low-temperature surface modification process will attract higher market shares in the future.

North America is expected to be a key contributor to the global market owing to increased use of vacuum and blast furnace in the regional end-use industries such as aerospace and automotive. Growing demand for military equipment as a result of increasing safety concerns is anticipated to drive the industry in North America region. Asia Pacific and Africa regions are projected to show rapid developments in the forecast period owing to tremendous growth in the industrial sector. In addition, rising demand for vehicles is also expected to contribute toward the market growth. Growing need for business operation efficiency is also expected to have a positive impact on the industry growth over the forecast period.

Industries in the emerging countries of Asia Pacific, such as India, China, Brazil, and Indonesia, are focusing on improving their product quality due to continuous economic advancements. This is expected to show a positive impact on the growth of the regional industry. Some of the key companies in the market are Bluewater Thermal Processing LLC; American Metal Treating (AMT), Inc.; Engineered Heat Treat, Inc.; East-Lind Heat Treat, Inc.; Houston Heat Treat; General Metal Heat Treating, Inc.; Pacific Metallurgical, Inc.; W. P. Keith Company, Inc.; Thermex Metal Treating Ltd.; and Tri-J Heat Treating Company, Inc.

New product launches, partnerships, regional expansion, and M&A activities are the major business strategies followed by most of these companies. For example, in February 2013, Bluewater Thermal Solutions LLC acquired Southwest Heat Treat Services LLC, which offers solutions to the oil and gas industry through its commercial heat treating business segment. This acquisition helped Bluewater Thermal Solutions in increasing its customer base while providing significant end-market diversification.

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Crop Protection Chemicals Market Analysis, Market Size, Strategies and Forecasts, 2015 To 2025

Global Crop Protection Chemicals Market is anticipated to witness a steady growth on account of modernisation in agricultural techniques. The overall market is projected to expand at a healthy CAGR over the forecast years. These substances are specially designed to either destroy the pests or keep them away from crops. These compounds work on push-pull methods. Push method consists of those chemicals that keep pests away from the yield. On the other hand, pull techniques involve those that destroy pests by attracting them towards the yield.

Target pests include insects, weeds, microbes, worms, birds, and mammals. Constantly increasing food demand, due to growing population, has driven many sectors associated with the agriculture industry including crop protection chemical market. Crop compounds variety has witnessed a significant rise in the recent years leading to a rise in agricultural harvest.

The necessity for increasing per hectare yield coupled with growing pest free food demand is expected to drive the global industry demand over the forecast period. These chemicals help boost the overall efficiency, which is also projected to have a positive impact on the global market growth. Moreover, these compounds offer better timelines and flexibility for crop harvest. Growing need to increase per hectare yield and gain high margins due to rising food demands across the globe is expected to fuel industry growth.

In addition, wide acceptance of modern farming techniques along with government support and initiatives encouraging the usage of these methods is also likely to augment the market development in the years to come. Going by the Darwin’s theory of evolution, many insects show chemical resistance, which is highly effective. This factor may hinder the growth of this market. Moreover, adverse health effects associated with these chemicals, such as irritation and breathing problems, may also restrain market expansion. Moreover, some chemicals drift in water bodies and have been one of the leading causes of water pollution in recent years.

Dichlorodiphenyltrichloroethane (DDT), one of the primary insecticide, is banned in several countries as the compound is carcinogenic in nature. Modern agricultural techniques implementation in emerging economies including India and China provide great opportunities for the market. Increasing consumer awareness, especially in the rural areas due to educational programs related to agro-business, provides bright prospects for the global industry. Trends have shown that local municipalities have been using pesticides to control the spread of diseases including malaria, flu, and plague.

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Such alternative applications of these chemicals are expected to drive global market further. The global industry can be segmented by chemical type into herbicides, fungicides, insecticides, and others. Herbicides are used for destroying plants and weeds that weaken the crop by extracting its nutrients. Fungicides are used to protect crops getting infected by fungi. Insecticides help in protecting the plant from insects. Other categories include avicides for birds, rodenticides for rodents, and miticides for mites.

Asia Pacific led the global industry and the trend is expected to continue over the forecast period mainly due to the presence of agricultural economies. Emerging economies including India, Indonesia, and China are projected to provide excellent opportunities for the market growth. SAARC countries including Pakistan, Sri Lanka, and Bangladesh are scheduled to show decent growth mainly on account of government funding in these regions.

It was followed by North America and Europe on account of modern agricultural practices introduced and practiced in these regions. These regions are projected to show a notable growth over the forecast period. South America and Africa has shown significant consumption of these products in recent years on account of developing agrarian sector in Brazil, Egypt, and South Africa.

Some of the key companies in the global crop protection chemicals market include Natural Industries, Inc.; Syngenta AG; Monsanto Co.; Bayer AG; The Dow Chemical Company; BASF SE; E. I. du Pont de Nemours and Company; Chemtura Corp.; Cheminova; Chr Hansen Holding A/S; FMC Corp.; Marrone Bio Innovations; Isagro SpA; Ishihara Sangyo Kaisha Ltd.; Nufarm Ltd.; Novozymes A/S; ADAMA Agricultural Solutions Ltd.; Sumitomo Chemical Co., Ltd.; and Valent BioSciences Corp.

The overall market has witnessed a significant number of mergers and acquisitions in recent years. Major companies are focusing on strengthening their global presence through local business acquisitions. In 2013, Belchim Crop Protection acquired ISEM's fungicide technologies. Similarly, in 2014, De Sangosse acquired Alpha Pesticides in Great Britain. Many leading companies are investing in the crop protection chemicals manufacturing and development initiatives on account of tremendous growth opportunities associated with the global industry. The growing product demand is forcing global companies to widen their portfolio by introducing new crop protection offerings.

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Cellulose Acetate Market to Reach 820.04 Thousand Tons By 2024

The global Cellulose Acetate Market to reach 820.04 thousand tons by 2024, driven by the increasing consumption of cigarettes in developing nations and growth in the textile industry. Cellulose acetate tow is used as a filter in the cigarette buds. Cigarette filters are used to cut down the overall tar and nicotine content during cigarette consumption.

Growing use of cellulose acetate tow in the cigarettes is anticipated to boost the market for cellulose acetate. Asia Pacific dominated the global cellulose acetate market in 2016 with the market share of 51.79% and is expected to maintain its dominance over the forecast period. The region is projected to continue its dominance due to the prevailing cigarette consumption rate in countries such as Indonesia and China. Rising awareness about the ill effects of smoking and relative growth in electronic cigarette market is projected to slow the demand for cellulose acetate tow in North America and Europe.

Cellulose acetate is used in many applications such as textile & apparel, cigarette filters, tapes and labels, photographic films, extrusion & molding. Cigarette filter is the largest application by segment accounting for around 80% of the market in 2016. Cigarette filter segment is expected to dominate the market over the forecast period owing to increasing demand for low tar filters worldwide. The textile industry uses this filament in the manufacturing of garments. The textile & apparel application segment is estimated to grow because of the strong growth of textile industry in developing nations such as China and India. Cellulose acetate is also used in making protection films which are utilized in liquid crystal displays, spectacle frames, and plastic handles. It has become popular as an eco-friendly plastic which is not harmful to skin and health. Biodegradable and renewable nature of cellulose acetate is anticipated to boost the demand over the forecast period.

Active companies in the market are adopting the strategy of merger & acquisition. For instance, in 2016, Solvay signed a definitive agreement to acquire Eastman’s stake in their joint venture – Primester – and becoming its sole owner.

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Hexa Research has segmented the global cellulose acetate market based on product, application and region:

Segmentation by Product, 2014 - 2024 (USD Million)

• Cellulose Acetate Tow

• Cellulose Acetate Filament

Segmentation by Application, 2014 - 2024 (USD Million)

• Cigarette Filters

• Textile & Apparel

• Photographic Films

• Tapes & Labels

• Extrusion & Molding

• Others

Segmentation by Region, 2014 - 2024 (USD Million)

• North America

• Europe

• Asia Pacific

• Central & South America

• Middle East & Africa

Key players analyzed:

• Daicel Corporation

• Eastman Chemical Company

• Mitsubishi Chemical Holding Corporation

• Solvay

• SK chemicals

• Rayonier Advanced Materials

• Tembec.com

• Sappi

• Borregaard

• Celanese Corporation

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Phenol Market to Grow $31.73 Billion by 2025

The global Phenol Market is anticipated to reach USD 31.73 billion by 2025, driven by the rising demand for derivatives such as epoxy resins, polycarbonates, nylon, phenolic resins, detergents and pharmaceuticals. These derivatives are important intermediates for manufacturing an extensive range of industrial products and are expected to boost the market over the forecast period.

Asia Pacific had the highest market share in terms of revenue and volume and is expected to maintain its position over the forecast period. Furthermore, China and India have been driving the regional market owing to the increased consumption of the derivatives, produced from phenol to manufacture industrial products. Asia Pacific market is expected to grow at a CAGR of 4.9% over the projected period. Europe and North America are likely to grow at a steady state as a result of stringent government norms to use this product as it is toxic and harmful to the environment.

Bisphenol-A dominated the market accounting for 48.8% of the volume share in 2016. It is one of the major derivatives used to produce polycarbonates and epoxy resins. Moreover, growing importance in the use of sustainable energy owing to rising crude oil prices is expected to drive the demand for epoxy resins. These are thermosets that have an exclusive blend of chemical resistance, toughness and strong adhesion. It is used as a coating application in wind turbine rotor blades, electrical equipment, steel pipes and metal cans & containers.

However, phenolic resins are the fastest growing segment in terms of both volume and revenue share. These are synthetic polymers and are used for making molded products such as laboratory countertops, billiard balls and as adhesives & coatings which are anticipated to fuel the market over the forecast period.

There is a huge competition among the established players and companies have to comply with environmental regulations implemented by the EPA and European Commission. The presence of a stringent regulatory framework is expected to increase the entry barriers for new players.

The majority of the companies in the field enter into a joint venture agreement with other manufacturers and distributors to expand its presence and meet the requires demand in the particular regions. The leading players operating in the phenol market include INEOS Phenol, Mitsui Chemicals, Aditya Birla Chemicals, PTT Phenol, CEPSA Quimica, Shell Chemical, LG Chem, Honeywell Resins & Chemicals, Shandong Sheng Quan Chemicals Co. Ltd., and SABIC Innovative Plastics.

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Hexa Research has segmented the global phenol market based on end-use and region:

Segmentation by end use, 2014 - 2025 (Kilo Tons) (USD Million)

• Bisphenol-A

• Phenolic resins

• Caprolactam

• Others

Segmentation by region, 2014 - 2025 (Kilo Tons) (USD Million)

• North America

    • U.S.

• Europe

   • Russia

• Asia Pacific

   • China

   • India

• Central & South America

   • Brazil

• Middle East & Africa

Key players analyzed

• INEOS Phenol

• Mitsui Chemicals

• Aditya Birla Chemicals

• PTT Phenol

• CEPSA Quimica

• Shell Chemical

• LG Chem

• Honeywell Resins & Chemicals

• Shandong Sheng Quan Chemicals Co. Ltd

• SABIC Innovative Plastics.

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