Metal Fibers Market Overview & Potential Growth Opportunities 2027 | Key Players: N.V. Bekaert S.A, Fibrometals SRL

The global metal fiber market size is expected to reach USD 6.98 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2020 to 2027. The market is driven by increasing product demand from the end-use industries, including aerospace, automotive, and textile, owing to favorable characteristics and demand for lightweight and advanced fibers. Characteristics of metal fibers that attract the industries include chemical resistance, strength, and failure strength. The use of metal fibers in industrial solutions, circuit boards, mobiles, and other power and electronics also enhances product demand.

Metal Fibers

The market majorly deals with products, including fibers of steel, aluminum, copper, which boosts the product demand. Steel fibers and aluminum fibers are projected to account for a significant share in the market and are expected to witness considerable growth over the forecast period. Demand for metal fibers majorly depends on its demand from various end-use industries.

A considerable number of companies are integrated vertically across the value chain. The value chain elements include raw material suppliers, manufacturers, distributors, and others. The government policies compelling the manufacturers to offer and introduce advanced fibers in order to have lightweight vehicles and control over CO2 emissions trigger the demand for metal fibers. The industry witnessed a large number of multinational and established players occupying a significant market share. However, constant advancement in the fibers and rising demand for composite fibers tend to hamper the market growth in the forecast period.

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Metal Fibers Market Report Highlights

• By product, steel fiber is expected to witness significant growth from 2020 to 2027, on account of high product penetration in automotive, construction, and other applications
• Aluminum metal fibers are expected to reach USD 1.57 billion by 2027 owing to the extensive product use in aerospace and defense and automotive applications
• The textile end-use industry was valued at USD 739.97 million in 2019 on account of demand for handbags, carpets, apparels, footwear, and home décor
• Asia Pacific is estimated to register the fastest CAGR in terms of revenue from 2020 to 2027 owing to the surge in demand from the end-use industries
• R&D investments from major multinational companies involved in the market for the production of advanced fibers and textile products favor market growth.

Metal Fibers Market Segmentation

Grand View Research has segmented the global metal fibers market on the basis of product, end-use industry, and region:

Metal Fibers Product Outlook (Revenue, USD Million, 2016 - 2027)

• Steel
• Nickel
• Copper
• Aluminum

Others

Chillers market to reflect tremendous growth potential with a CAGR of 4.3% by 2025

According to a recent report published by Grand View Research Inc., demand for efficient refrigeration and HVAC systems in newly constructed infrastructures to maintain the increasing internal temperature is likely to accelerate market expansion.

According to a report, “Chillers Market Size, Share & Trends Analysis Report By Product (Air-cooled, Water-cooled), By Compressor Type (Screw, Centrifugal), By End-use (Industrial, Commercial), By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc. The global chillers market size is expected to reach USD 13.99 billion by 2027, registering a CAGR of 4.3%, as per a new report by Grand View Research, Inc. Chillers are used in various industries, including pharmaceutical, food & beverage, plastics, printing, medical, petrochemical, electronics, and power plants to provide cooling. Increasing adoption of chillers in residential structures, manufacturing facilities, restaurants, hospitals, and sporting arenas is expected to positively impact the market product demand. 

Chillers

The demand for HVAC systems for dehumidifying and cooling the buildings is experiencing significant growth over the past few years. This can be attributed to the rising atmospheric temperatures as a result of global warming. Furthermore, the ability of the chillers to efficiently transfer heat from the internal environment to the external atmosphere is expected to support market growth.

The worldwide lockdown imposed to restraint the spread of COVID-19, along with low GDP growth in several industrial and manufacturing sectors has resulted in dampening the construction activities. Furthermore, the closure of end-user industries, including various commercial buildings and production facilities, has hampered the demand for repair & maintenance and aftermarket sales of the product.

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Chillers Market Highlights

1. The gigantic production site of Five Daikin screw inverter chillers totals 3,450kW that run on low GWP refrigerant R1234ze. In January 2021, the chillers have been employed in the new Engelbert Strauss CI factory in Germany
2. In January 2021, Mitsubishi Heavy Industries’ launched a series of MSV2 air-cooled heat pump chillers and has won Japan’s annual ECCJ Energy Conservation Grand’s award for an energy-saving product. The reward was under the Product & Business Model for Natural Resources & Energy Commissioner’s Award
3. The MSV2 series has achieved industry-leading COPs over a combination of newly-developed proprietary technologies like the e-3D scroll compressor 
4. Poultry sellers at wet markers in Malaysia has placed an enormous demand for chillers in place to store and display fresh meat, says the Penang Island City Council (MBPP) 
5. The air-cooled segment is projected to witness the fastest CAGR of 4.8% during the forecast period, on account of low installation and maintenance costs 

The centrifugal chillers segment is anticipated to showcase a CAGR of 4.0% from 2020 to 2027, due to the rising adoption of these systems in industrial and commercial buildings for cooling large or medium loads

A Look into Vegan Dessert Industry……Deep Analysis

The global vegan dessert market size is expected to reach USD 5.97 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.1% from 2020 to 2027. Increasing demand for low fat, lactose-free, and all-natural products is expected to fuel the growth of the market in the upcoming years. In addition, rising income and health consciousness among the consumers have been driving the sales of dairy-free foods over the world.

The frozen dessert segment is expected to register the fastest CAGR of 11.0% from 2020 to 2027 owing to the rising demand for dairy-free products among young consumers. Key players of the ice cream industry have been entering the market considering the increasing opportunity. For instance, in March 2020, Unilever’s Magnum brand introduced a Non-Dairy Sea Salt Caramel Bar. The ice cream is made with coconut oil, pea protein, and cocoa beans. Similarly, in January 2020, Ben & Jerry's Homemade, Inc. added a new flavor called “Netflix & Chilll’d” to its plant-based ice cream line. The company has collaborated with Netflix for the launch of this flavor.

Asia Pacific is projected to expand at a steady growth rate in the upcoming years owing to increasing acceptance of veganism in the region. As a result, companies have been strengthening their presence in the region. For instance, in April 2019, Nongfu Spring launched China’s first plant-based yogurt brand. The brand includes three flavors: walnut, almond, and coconut. In November 2019, Green Common, a plant-based grocery shop and café partnered with Tmall, to open a Tmall Global flagship store in China. The industry is highly competitive due to the presence of a large number of global and regional players.

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Vegan Dessert Market Report Highlights

• In terms of product, the cakes and pastries segment dominated the market with over 25.0% share of the global revenue owing to increased popularity and easy availability of the products through offline stores
• Asia Pacific is expected to expand at the fastest CAGR of 10.6% from 2020 to 2027. Growing awareness regarding plant-based diet in countries, including China, Japan, and South Korea, is expected to remain a principal driving force
• The online distribution channel is expected to expand at the fastest CAGR of 10.5% from 2020 to 2027 due to increasing penetration of online retailers and smartphones
• Product innovation is expected to remain a key success factor for the industry.

Vegan Dessert Market Segmentation

Grand View Research has segmented the global vegan dessert market on the basis of product, distribution channel, and region:

Vegan Dessert Product Outlook (Revenue, USD Million, 2016 - 2027)

• Biscuits/Cookies
• Cakes & Pastries
• Custards & Puddings
• Frozen Desserts
• Others

Vegan Dessert Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

• Offline
• HoReCa
• Online

Pharmaceutical Packaging Market: How It Will Witness Substantial Growth In The Upcoming Years? : SWOT Analysis

The global pharmaceutical packaging market size is projected to be valued at USD 188.79 billion by 2027, exhibiting a CAGR of 8.5% over the forecast period, according to a new report published by Grand View Research, Inc. Growing pharmaceutical industry, most notably in the emerging countries, such as China, India, and Brazil is anticipated to drive the growth.

Factors, such as drug discovery, and rising demand for Over-the-Counter (OTC) medicine are expected to drive the demand for pharmaceutical packaging. A rapid rise in population, improving healthcare infrastructure, and increasing access to medicines to a large number of people, especially in developing countries are other factors expected to positively impact the demand. Moreover, the increasing aging population coupled with the rising prevalence of chronic diseases is expected to fuel the market growth in the near future.

Pharmaceutical Packaging 

Furthermore, increasing demand for patient-oriented medicines including biologics is further anticipated to augment the demand for advanced pharmaceutical packaging products in the coming years. Biologic drugs are derived from microorganisms, animal, human, or plant cells and generally tend to be heat sensitive thereby requiring specialized packaging. This is anticipated to further propel the growth of the market.

Increasing focus on sustainability is anticipated to increase the usage of recyclable and biodegradable materials in the pharmaceutical packaging products, which is expected to play an important role in the forthcoming years. Rising demand for convenient packaging that makes it easier to manage the dosage is expected to have a positive impact on the growth.

However, increasing packaging costs may dampen market growth to an extent. Factors such as stringent regulations coupled with growing anti-counterfeiting efforts have increased the overall packaging costs. In addition, several government organizations have also passed regulations for serialization and traceability. For instance, in 2013, the U.S. government enacted the Drug Quality and Security Act that will drive the serialization and track-and-trace efforts.

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Further key findings from the report suggest:

• Plastics and polymers emerged as the largest material segment in the pharmaceutical packaging market, accounting for a revenue share of 38.31% in 2019. Plastics and polymers are preferred for packaging pharmaceutical products, owing to their low cost, lightweight, strength, and good barrier properties
• The primary pharmaceutical packaging product segment is anticipated to register the fastest CAGR of 8.8% over the forecast period. Primary packaging plays an important role in pharmaceuticals as this packaging is in direct contact with the medicine
• In terms of end use, the contract packaging segment is anticipated to register the fastest CAGR of 9.3% over the forecast period owing to the growing focus on outsourcing the packaging activities in order to save expenses and time
• North America dominated the global market in 2019. Factors, such as new product developments as a result of advanced R&D activities coupled with the presence of several major pharmaceutical companies are likely to propel the growth
• The market is expected to witness intense rivalry among the key players in terms of product innovation, product offering, and geographical presence

High Voltage Cables - What Factors Will Drive The Market In Upcoming Years?

The global high voltage cables market size is expected to reach USD 47.2 billion by 2027 registering a CAGR of 3.7%, according to a new report by Grand View Research, Inc. Increasing investments in offshore wind farms and preference for energy generation from renewable sources are the major factors driving the market. The demand for refined power T&D systems is expected to be another critical factor driving the market over the forecast period.

High Voltage Cables

High investments and new projects have been launched in various emerging economies for power generation from renewable energy sources. This energy generation needs to be supplied to the end-users through efficient cables with less transmission loss. Thus, high voltage (HV) cables allow the transmission and distribution of electricity safely. The submarine HV cables are also installed to enable communication between the regions across the globe.

The power grid interconnection has proved beneficial for the growth of the overall market due to its advantages including reduced transmission losses and efficient power transmission. In addition, the power grid operator is undergoing upgradation and renovation of the old infrastructure. For instance, in 2019, NKT A/S signed a contract with TenneT (Germann-Dutch) power grid operator to provide HV cables.

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High Voltage Cables Market Report Highlights

• The global accounted for USD 35.11 billion in 2019 and is expected to register a CAGR of 3.7% from 2020 to 2027
• Overhead emerged as the largest installation segment in 2019 and is estimated to retain the leading position throughout the forecast period
• Asia Pacific holds the largest share in the global market. Grid interconnections and increasing offshore wind farms projects in the region are the key factors responsible for region’s growth

Needle-Free Drug Delivery Device - What Factors Will Drive The Market In Upcoming Years?

The global needle-free drug delivery device market size is poised to reach USD 16.27 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 10.5% during the forecast period. Rising usage of injections in healthcare settings such as hospitals, clinics, and ambulatory surgical centers has led to spread of infectious diseases such as Hepatitis B, Hepatitis C, and AIDS, especially in developing countries. This acts as a key driver for the needle-less drug delivery devices industry. Furthermore, rising collaborations between market players is further likely to increase competitiveness of this market. For instance, PharmaJet and Mundipharma entered into a partnership in 2018 for distributing its needle free injectors over 120 markets globally.

Needle-Free Drug Delivery Device

Moreover, technological advancements in healthcare are expected to open new avenues for market players in applications such as cancer, AIDS, and Ataxic Cerebral Palsy. For instance, polycarbonate materials are being utilized in needle free injectors owing to their advantages such as design flexibility, toughness, light weight, and process ability. The most recent example of such technology is needle-free injection insulin delivery device manufactured by QS Medical Technology Co. (QS) in September 2018.

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Further key findings from the report suggest:

• Novel needle-less devices accounted for a significant share of more than 25.00% in 2017 owing to their wide array of applications
• Based on applications, the vaccine delivery segment is estimated to exhibit a lucrative growth rate over the forecast period due to its increasing usage for pediatric patients
• North America held the dominant share in the global arena in 2017, due to favorable government insurance policies and increased investments in R&D by healthcare companies
• For instance, In May 2018, U.S. Congress approved “right to try” bill where patients can try unproven medical treatments and devices in case of serious illness such as orphan diseases, including NETs
• The Asia Pacific needle-free medication transportation devices industry is anticipated to witness significant growth during the same period due to rising healthcare expenditure and growing investments by many companies in the healthcare sector
• Additionally, several countries in this region are implementing laws that cater to adoption of medical devices. For instance, the Korea-U.S. Free Trade Agreement (KORUS FTA) was implemented on March 15, 2012, in which most of the medical devices in Korea were made duty free
• Some of the key companies present in the market are Antares Pharma; Injex Pharma Ag; Verdict Media Limited; Valeritas, Inc.; and 3M Company
• Industry participants are involved in extensive research activities to develop novel needless drug delivery injectors for applications such as pain management, insulin drug delivery, and vaccines delivery.

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Virtual learning solution providers have leveraged the COVID-19 pandemic as a prominent opportunity to deal with their distance learning policy. Moreover, governments worldwide are recommending online teaching and learning solutions and offering free portals for online tutorials. For instance, in April 2020, New Zealand’s government leased around 17,000 digital portable devices for distribution among students who did not possess one. All these factors are offering a vast potential for the market to grow at a massive rate amid the coronavirus outbreak.

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