Europe Packaging Lining Industry Market Outlook: Ken Research

The growth of the Packaging lining industry is being driven by a number of trends, depending on various geographical regions which includes increasing demand in logistic industry, food and beverage industry, FMCG products and others in Asia Pacific region. According to the study, ’Europe Packaging Lining Industry Situation And Prospects Research Report’ suggest that some of the major companies which are currently operating in this sector such as JMP Holdings, Arena Products, Linertech, Protective Lining Corp, LC Packaging, Plascon, DS Smith, Shenzhen Dongtai Sponge Products, Kadary, Ian Bicking, Green Light Packaging, Rongyeda, Nantong Xinyi Sponge, Jiaxing Packaging, Shanghai Zhongfan. The competition among major players in packaging lining market is mainly based on volume, suppliers profile and sales data, market share, revenue and others. The report also describes the key applications across key players with their production capacity, price, revenue, cot and gross margin analysis 2012-2017.

In the modern era packaging is an important aspect. Packaging is both such as science and art. Packing lining refers to the process of producing packages, designing and evaluating all the aspects of package. Packaging mainly described the brand, type, price, quality and quantity of the product. Effective packaging increases the demand of the product as well. In the export of goods packaging plays a significant role. However, packaging lining can be done by the paper, plastic, rubber and other on the basis of different application of the product such as the packaging of food & beverages is different from the packaging of electronics.

Increase in living standard and on the basis of personal disposable income in the developing regions, the demand of broad range of products is growing, with subsequent growth in demand for the packaging of these products. Packaging lining market gives geographic growth by regional product types and end-user application. As the demand is increasing every day which led to market grow positively. The packaging lining market is spread across Germany, Russia, UK, France, Italy, and other regions. However unsurprisingly, the European packaging market is also taking advantage of flexible materials and rigid plastic of the packaging market in 2015. European demand for paper and board packaging should continue to grow in the near future majorly due to rise in demand from the food products and tobacco. In Europe, Germany and Russia are the biggest consumers of food sector such as beverages and dairy products.

In addition, the packaging lining market developed the market trends, having a major impact on development in packaging over recent years. Whereas the report also covers the key developed countries and the importance of the packaging lining market by countries. Moreover the companies are currently investing in updating and upgrading their technologies in order to maximize the demand that is involved. In future, it is estimated that the future of packaging is going to take a significant place in the market whereas the Eastern Europe was the fourth largest consumer of packaging which will hold a strong share in the packaging lining industry market in future. Since, there are many companies who are going to invest in this business; therefore the future of this industry is expected to be bright.

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Increase In Engineered Foam Material Market Outlook: Ken Research

According to the study, ‘Asia Engineered Foam Material Industry Situation And Prospects Research Report’ some of the major companies which are currently performing in this sector of market such as  The DOW Chemical Company, Form Partner Group, Inoac Corporation, UFP Technologies, Inc , Huntsman Corporation, Trelleborg AB, Rogers Corporation, BASF SE, Bayer AG. However, Armacell is a leading provider of engineered foams, operates in Asia and Middle East, and others. It offers a broad list which includes polystyrene foam, polyethylene foam and polyurethane foam. On the other hand, the report also describe the information about the key applications across the major leading industry players with their capacity, cost, revenue, product picture, gross margin, company profile and others. Downstream customers, equipment and upstream raw material analysis are also carried out.

Polymer foams are also known as engineered foams which are shaped up of solid and gas phase amalgam together to yield foam. Engineered foam is very lightweight plastic that is gravely important in a wide range of end-use application. It is used in the shock absorption and bearing of waterproofing gaskets. Engineered foam is also used to unite the part that need buffer impact, lightness such as wrestling mats, helmet paddings, flotation devices and others. The market of engineered foam is categorized based on the end-use applications as medical & healthcare, manufacturing & construction, transportation, aerospace & defense and others. Moreover, the engineered foam market segment is based on the foam type such as flexible foam, rigid foam, and spray form. With these foams, the flexible foam is the leading form type segment in the global market. Additionally, development growth in the automotive industries, construction and the sports & leisure is anticipated to enhance the market growth.

Engineered foam is used in various applications such as packaging, wind energy, insulation materials, cushioning of furniture and others. Not only has this, the market of engineered foam can be segmented based on the type of polymer used into Polystyrene (PS), Polyurethane (PUR), and Polypropylene (PP). All three having different type of usage. The market of engineered foam can also be discriminate based on properties of the foam such as rigid and flexible foam. The engineered foam market gives geographic growth by regional product types and end-user application. As the demand is increasing with use of engineered foam the status of market is growing geographically.

The engineered foam market is spread across China, Japan, India, Korea, Saudi Arabia and other regions. However, unsurprisingly Asia-Pacific market witnessed a higher growth in the forecast period due to growth in manufacturing, rising demand from emerging economies and technological activities in these region. Moreover the Middle East and Africa is also anticipated to show considerable growth in the near future. Therefore the engineered foam market is highly competitive with the presence of both regional and global. Rise in demand for lightweight shapes in the construction industry is anticipated to boost the market for engineered foam in the region. In future, it is projected that the advancing research and development of engineered foam in the market will witness a significant growth due to increase in the demand.

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Eco-Friendly and Multi-purpose Needs to Bolster Asia Botanic Fibers Industry: Ken Research

Botanic fiber by definition is relating to plants or plant life or any substance obtained from a plant. The available botanic fiber in the Asian market is lyocell which is a form of rayon consists of cellulose fiber made from dissolving pulp or bleached wood pulp and reconstituted through spinnerets into fiber. Lyocell is a semi-synthetic fiber as it is manufactured from a naturally occurring polymer as opposed to a synthetic fiber derived from petroleum. Rayon is manufacture from tree pulp where wood chips are converted into chemical slurry that reconstitutes the slurry back into a fiber. Cotton is a botanic fiber that is extracted directly from the cotton plant and undergoes very little processing. Cotton is truly both a natural and botanical fiber. Asia natural circular economy is inspired by nature, with the introduction of botanic fibers in the textile market,. All the available botanic fibers production units in Asia focus on protecting the environment and preserve the natural resources.

Manufacturers of botanic fibers are following stringent ecological regulations by introducing closed chemical loop production. Lyocell production is a recycling modern and extremely environmentally compatible process. The pulp derived from botanic cellulose is dissolved easily in a mechanical or physical process and spun into high-quality fibers. The various processes and technologies in the manufacture of botanic fibers in Asia are Viscose and Modal process, Lyocell process, Eco Filament technology and REFIBRA technology.

According to the study “Asia Botanic Fibers Industry Situation and Prospects Research Report”, wool, silk, synthetics, cotton and linen are the various product types in Asia’s botanic fibers industry. Hygienic products, apparels, textiles and other are the various applications in Asia’s botanic fibers industry. Geographically, Asia’s botanic fibers industry is spread across China, Japan, India, Korea, Saudi Arabia and other regions. The leading players in botanic fibers industry in Asia are Lenzing, Ihsan Sons, Kelheim Fibres, Barnhardt Manufacturing, Fiber Visions, Tangshan Sanyou, Fulida, Hi-Tech Fiber Group, Sateri, Aoyang, Yibin Grace Group, Bohi Industry, Xiangsheng Group and Xinxiang Bailu.

After the end of the botanic fiber life span, the fibers decompose by biological means back into the soil without leaving any harmful residues. These fibers are very effective in absorbing moisture from the human body, purity of the fibers, soft and supple. In contrast to cotton, the fibers are already equipped with certain additional properties during the production process such as colours and flame-resistant. Botanic fibers are subjected to strict medical and hygiene standards which are considerable to economic advantages.

The increasing demand for environment-friendly, absorbable, multipurpose, decomposable, and economical fibers has led to a drastic growth in botanic fibers market in Asia. The increasing demand for textile manufacturing in emerging Asian economies such as India, China, South Korea, Japan, Pakistan, Taiwan, and Indonesia account for a major share in the botanic fibers market. Manufacturing is not only restrained for fabric but also involves production and sale of threads, which are utilized through numerous end-use businesses. Vietnam and Bangladesh are the possible upcoming market for botanic fiber products. The increasing awareness and demand for botanic fibers will drive the industry in Asia over the next few years.

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Evolution in nylon and polyamides market to fuel Asia Dodecanedioic Acid Industry: Ken Research

Dodecanedioic acid is known as DDDA, which is a dicarboxylic acid that used in top-grade coatings, antiseptics, painting materials, surfactant, corrosion inhibitor, and engineering polymers (nylon 612). It is also used in the manufacture of corrosion inhibitors used in water treatment, chemical, pulp and paper, powder coatings and other industrial facilities. Powder coatings manufactured using DDDA have a number of advantages over conventional liquids such as higher resistance to corrosion, abrasion, chipping, high quality finish, protection from chemicals, heat, moisture. Additionally, powder coatings are free from all variants of solvents resulting in negligible volatile organic compounds (VOC) emissions and are termed as eco-friendly coating. DDDA is used in the manufacture of polyesters, especially polyamides and epoxy resins. In the medical sector, intravenous infusion of DDDA in type 2 diabetic patients helps in maintaining blood sugar without affecting the energy levels or increasing the blood glucose in the human body. DDDA is used as a primary constituent for corrosion resistant coats and heat transfer fluids.

Evolution in construction and automotive industries has led to a huge demand for paints and coatings propelling the growth of the dodecanedioic acid market. Nylon is used in manufacturing thermoplastics, fabrics, screws, gears and ropes with its excellent properties coupled with improved performance, high tensile strength, high elasticity, and easy availability. Manufacture of nylon 612, powder coatings, adhesives, and paints is driving the demand for DDDA in Asia due to industrialization. Nylon 612 is used the manufacture of coatings, polyesters, greases, detergents, fragrances, and adhesives. It has attractive heat resistant property which helps in production of heat resistant thermoplastics.

According to the study “Asia Dodecanedioic Acid Industry Situation and Prospects Research report”, the increasing demand for zero volatile organic compounds in paints is another key factor driving the dodecanedioic acid industry. Resin manufacturing accounts for a largest share in the DDDA market. Stringent environmental concerns related with the production of dodecanedioic acid could hinder the growth of DDDA in Asian markets. The introduction of bio-based DDDA is expected to nullify the declining market. Bio-based DDDA will replace approximately 30% of petrochemical product industry in the next few years.

Cyclododecane, Dodecyl Alcohol, 1-3-Butadiene and Hydrogen Peroxide are the few types of products available in Asia’s Dodecanedioic Acid industry. Various aaplications of Dodecanedioic Acid in Asia market are resins, powder coatings, adhesives, lubricants and others. Geographically, Dodecanedioic Acid market in Asia is spread across China, Japan, India, Korea, Saudi Arabia and other region. The leading players in Dodecanedioic Acid market in Asia are Evonik, Dupont, Verdezyne, BEYO Chemical, Cathay Industrial Biotech, UBE INDUSTRIES, Nantong Senos Biotechnology, Santa Cruz Biotechnology, and Zibo Guantong Chemical.

Industrialization in Asia accounts for a larger share in the DDDA market; however, China is the largest producer as well as consumer of DDDA. Initiatives toward environmental sustainability are expected to encourage the leading manufacturers in the exploration of bio-based routes for the production of dodecanedioic acid. Evolution in nylon and polyamides market is fuelling the growth of DDDA market prospects in Asia. Increasing crude oil prices and carbon footprint on the environment has led to increased investments on R&D by manufacturing companies, to produce more bio-based DDDA. Asia’s stringent environmental and government regulations on petroleum-based products has motivated DDDA manufacturing units to use bio-based resources, as an alternative, in the production process. Increasing focus towards bio-based dodecanedioic acid will witness a steady growth of Asian dodecanedioic acid market during the next few years.

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Trends In The Power Generation Market Outlook: Ken Research

According to the study, ‘Deep Dive: Power Generation Market’, the companies that are present dominantly in this area of operations include General Electric and Siemens AG. These companies hold majority share in the market due to their long presence in the market which has resulted in them possessing huge financial capabilities. The developing markets such as Africa and Asia are expected to show high degree of growth rate due to the increasing economic prosperity as well as improving standard of living which will shoot up the demand for power in the respective regions. Consequently, the consumption in the developed markets shall be slow due to already existing upgraded technologies as well as more competition.

There is no doubt that power is a key driver for the human industry. In order to ensure keeping up with our current way of life, and ensure future economic prosperity, power generation is a major industry that needs to flourish in order to accommodate the growing demand. Due to the strong influence, power industry possesses on the social as well as economic life, power supply needs to maintain strict quality standards that shall ensure not just overall effectiveness but also cost efficiency. The power sector has been ensured with quality up to date technology as well as a sound legal framework which was enough for companies to ensure their profitability. Due to the great degree of pressure that is being exerted by socio-economic factors, companies have to regularly keep up with the dynamic environment ensuring that no objective is left behind. There are 2 types of markets. The developed markets are characterized by slow growth rates but high degree of competiveness (EU and USA). The second type of market is one in which the growth rate of the industry is high however, the degree of competitiveness is low (Africa, Asia). The companies that operate in this industry are pressurized to follow strict legal norms and bring in technological up gradation in their technique of production in order to ensure energy generation that does not cause a negative impact on the environment.

Over the last few years, companies have started to generate electricity via renewable forms of energy. This is because most of the governments across the world have begun to incentivize the generation of power via renewable forms of energy which makes it more cost competitive. Also, the adoption rate of this form of energy generation is quite high. This is due to the fact of decreasing environmental quality and increasing awareness which has led to a high rate of adoption.

The renewable forms of energy generation are expecting to witness a strong growth in the upcoming years which can be a huge attraction for many companies. The competition over the years is expected to increase. The companies shall be able to gain major market share if they are able to produce energy from renewable forms of energy as they are most competitive and environment friendly thus more acceptable. The overall growth rate has remained high for the past few years which been expected to be carried to the upcoming years as well.

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Evolution in Eco-Friendly Resins to dominate Asia Bio-Based Resins Industry: Ken Research

Bio-based resins are synthetic compounds made from renewable raw materials which are different from conventional resins and are used for the manufacturing of various products such as packaging materials, furniture, carpets, films, bottles, cups, and automotive parts. The increasing sales of natural products, use of green products with functional benefits, and the need for sustainable manufacturing processes has stimulated the need for bio-packaging materials made from bio resins. Almost all the plastics and packaging manufacturers are adopting bio-packaging products due to the increasing preference for eco-friendly packagings. The stringent environmental regulations, the need to meet the corporate sustainable goals, and inclination towards the green branding of products are propelling consumers to adopt bio-based resin products. Asian markets are witnessing a high rate of penetration of bio-based resin waste bags and loose-fill packaging materials because governments are promoting the use of bio-based or biodegradable resins that are fuelling the use of bio-based resins in various applications.

According to the study “Asia Bio-Based Resins Industry Situation and Prospects Research report”, bio-based resin market in Asia comprises of multiple vendors and is highly-competitive. Due to rapid advances in technology and changing dynamics will definitely intensify the market’s competitive environment. Majority of the vendors are focusing on creating strong brand names with well-established products that exhibit long-term reliability.

Non-Biodegradable Bio-Based Resins and Biodegradable Bio-Based Resins are the two types of bio-based resins available in Asian markets. Packaging, automotive, construction and other industries are the major end-users of the bio-based resins in Asia. Geographically, bio-based resins in Asia market is spread across China, Japan, India, Korea, Saudi Arabia and other region. The leading players in bio-based resins in Asia market are BASF, DuPont, Dow Chemical, Arkema, Ashland, DSM, Huntsman International, Braskem, Metabolix, Cereplast and Ecospan. dThe non-biodegradable bio-based resins segment will account for a major share in the Asian markets. The various types of non-biodegradable bio-based resins are bio-polyethylene terephthalate, bio-polyol and polyurethane, bio-polyamides, bio-polytrimethylene terephthalate, and bio-polypropylene. The growing importance of sustainable packaging in Asia coupled with the popularity of bio-based resins will surely fuel the market. 

Majority of the manufacturers are using bio-based resins to produce bottle caps, mineral water bottles, carbonated soft drink bottles, and dairy packaging. Emerging economic conditions, environmental concerns, changing consumer behaviour, rising preference for convenience foods, demand for special packaging, availability of eco-friendly products such as eco-resins, and need to extend the shelf-life of fresh food items are few factors boosting the demand for bio-based resins in the packaging sector. Consumer appeal towards the eco-friendly packaging materials will surely drive the growth in Asia’s bio-based resins market over the next few years.

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Rising Demand In Fireproof Glass Industry Market Outlook: Ken Research

According to the study, ‘Asia Fireproof Glass Industry Situation and Prospects Research Report’ some of the major companies which are currently functioning in this sector includes such as Saint-Gobain, Schott AG, Asahi Glass, NSG Pilkington, Pyroguard, Anemostat, Fuso Glass India Pvt. Ltd., Promat International Nv, Ravensby Glass Co. Ltd., Safti First Fire Rated Glazing Solutions, Glass Dynamics Inc, Nippon electric Glass co. Ltd, Nippon Sheet Glass Co. Ltd., Technical glass Products, Fuso Glass India Pvt. Ltd. The key market players are focusing on the joint ventures, mergers and acquisitions to acquire the large share in the market. In addition to this, the key market player of the fireproof glass for building and ships are being developed. Hence, the massive investment towards the fireproof market is anticipated to increase the demand in the coming years.

The history of fireproof glass goes back to the 1980s, when the first company uniquely specialized in the research, manufacture and marketing of sustainable fireproof glass of highest resistance glasses. Fireproof glasses are for people’s safety always, as safety comes first. With this safety measure the demand of fireproof glass is increasing positively in the recent years. In addition fireproof glasses are used where building regulations impose a specific level of fire proof and the place where people want natural light and clear visibility such as restaurants, offices, airports, schools, library, shopping malls, industrial buildings and others. Due to the application of fireproof glasses such as clarity or visibility that provide good vision without sound reduction, fire screen and doors, safety room fire and others the demand for fireproof glass is expected to increase significantly in the coming years.

Government organizations have also introduced many safety measures followed by regarding specific type of fireproof glasses. This is one of the cautions for global fireproof glass market. The fireproof glass market can be discriminated on the support of material, usage, type, end-use industry and others. Further the type of fireproof glass market can be segmented into wired, ceramic, laminated, and tempered.  In addition, construction, marine, transportation, and others are the application of fireproof glass. The market of fireproof glass can also be discriminate on the residential, commercial, and industrial basis.

The fireproof glass market gives geographic growth as the demand is growing. Moreover the new strategies and investment enhances the status of the market geographically. The market of fireproof glass is spread across China, Japan, India, Korea, Saudi Arabia and other regions. However, Asia-Pacific region is also expected to manage a significant share in the global fireproof glass market. Besides this Europe is expected to account for more than half share of the global fireproof glass market but Asia-Pacific region is expected to witness a relatively high growth rate in the global fire proof glass market. Therefore the fireproof glass market is highly competitive with the presence of both regional and global players operating in the market. Increase in demand resulted in higher competition. In future, it is anticipated that there will be boost in the market in the future years as well.

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The Success Of The Indian Baby Food Sector Market Outlook: Ken Research

India is the second most populated country in the world after China despite not having a high birth rate. The Indian baby food industry was recently valued in billions of US dollars showing the vastness of this sector. According to the study, ‘THE BABY FOOD SECTOR IN INDIA, 2018’, the target consumers of commercially available baby food range from infants (babies aged six to twelve months ) to toddlers (children up to three years old). Baby food is available in various flavors and in both solid and liquid form. India comes under the categories of developed and developing nations whose population, due to modern day time constraints, has reduced the use of homemade baby food.

India’s economic and industrial stronghold has not benefitted its baby nutrition sector since India is among the world’s five largest emerging economies where investment in breastfeeding is significantly low resulting in an annual economic loss of billions of US Dollars due to child deaths and cognitive losses. As employment increases young working women have begun shifting to packaged baby food for supplementing breast milk. While focus has mainly been on milk formula and dried baby food, several prepared baby foods and other such products made appearances on store shelves of major cities in 2010 and have been flourishing ever since. Every company is adopting the strategy of new flavors and new nutritional content in order to attract customers. Growing concerns about nutrition has made parents conscious about what their babies consume and hence, organic baby food is also coming up these days. The company, 24 Mantra Organic is more than a decade old and is India’s largest organic foods brand. Happy Family Organic Super Foods has a range of baby foods that include puree pouches of mango, apple and peach among others. Pristine Organics is the first brand in India to make certified organic weaning foods. Earth’s Best Organic Baby Food provides a wide range of baby food including infant cereals, food for toddlers and age specific options as well.

Though baby food market in India is one of the fastest emerging sectors, the government’s regulation in India is very strong and makes it tough to operate in infant food and nutrition. India’s policies regarding milk formula and infant foods are stricter than those of some of its neighbors and advertising in the category is banned. However, retailers and companies partner for mutual gain. Supermarket chain Big Bazaar launched imported prepared baby food brand Gerber in their outlets in the metro cities in 2010. Even vegetable flavors have been launched in certain baby food products as mothers consider such variants to be more nutritious. Even the most renowned organic baby food manufacturers in the country cannot compete with Nestle which has an absolute monopoly over the Indian baby food market. This company is holding nearly four-fifth of the entire child nutrition market in India.

The rapidly growing Indian baby food sector’s success can be attributed to the fact that it has identified the target audience properly. Urbanization is leading to a greater demand for packaged baby food however; growing concerns regarding child nutrition keep the quality aspect in check. India too is adopting organic baby food but with unfavorable legal situations, companies and retailers seem to benefit mostly in partnerships.

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Advanced Technologies to Bolster Asia Braided Composites Industry : Ken Research

According to the study “Asia Braided Composites Industry Situation and Prospects Research report”, emerging economies such as India, China, are anticipated to lead the braided composites market on account of the increasing demand from numerous application sectors such as aerospace, defense, transportation, automotive and wind energy. Mergers and acquisitions and R&D activities together with new product development by major companies are projected to augment the market growth. In addition, superior features in braided composites are provided by the products particularly in CFRP such as carbon fiber reinforced plastics on account of technological innovations and new high-value applications are fuelling the Asian markets.

Braided composites are highly valuable engineering structures designed and manufacture for modern aerospace applications. Airbus A350-1000 is currently under development which is one of the first large-scale aerospace manufacturing using braided composites. Braided composite structures and materials are best suited for aerospace applications. The mechanical behaviour of braided composites' structures and methods used to model their properties are introduced in current aerospace applications of braided composites in the aerospace industry. Other applications of braided composites are in wind energy sector, electrical & electronics sector, automotive sector, marine, aerospace and defense sectors. The expansion of numerous end-user applications of braided composites coupled with strength, thermal conductivity performance properties and high corrosion resistance is propelling the braided composites market in Asia.

Aerospace and defense sectors account for a major share in braided composites within aerospace due to the ongoing process of manufacturing advanced technological aircrafts with innovation over traditional manufacturing process. Braided composites possess high performance properties and the increasing need for lightweight aircrafts in the domestic, defense and military aircrafts coupled with high corrosion resistance are a few crucial factors enhancing the growth of composites market in Asia.

Braided composites are also used in wind energy applications owing to its wide application as clean energy materials. Infrastructure development for public transport and growing automobile industry is anticipated to augment the further expansion of braided composites market. Increasing development of industrial application such as transportation, wind energy and aerospace and defense is enhancing the growth of the braided composites market coupled with rapid metropolitan development of the cities, the existence of major braided composites manufacturers in Asia which are the major factors propelling the growth of the market.

Biaxial, triaxial and other variants are the various product types available in braided composite market in Asia. Aerospace, defense, automotive, sporting goods and others are the multiple applications within the braided composite market in Asia. Geographically, braided composites in Asia market is spread across China, Japan, India, Korea, Saudi Arabia and other regions. The leading players in braided composites market in Asia are Airbus Group, BMW AG, Exelis Inc. (Albany Engineered Composites), GE Aviation, GKN Aerospace (Fokker Landing Gear B.V), Highland Industries Inc., Munich Composites GmbH, Revolution Composites LLC and Sigma Precision Components Ltd.

Asia accounts for a largest share in the braided composites market due to evolution in aerospace market. Emerging economic conditions are propelling the need for braided composites in the aerospace sector. The increasing consumption of braided composites for various applications is encouraging the market towards expansion in various sectors attracting huge recognition and this trend will continue over the next few years in Asian markets.

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The Landscape of the Block Chain Technology in the Utilities Industry: Ken Research

Block chain is nothing but growing list of records which are interconnected via a method known as cryptography. Block chains can also be related to public ledgers which are open to edit by any party. These public records are being widely used in the crypto currency network due to the high level of security that is associated with the block chain technology. One recent and visible trend is the increasing adoption block chain technology in the utilities industry. The block chain has significantly improves its visibility in the block chain industry. The future of the utilities market is going to be very bright, which shall consist of millions of endpoints such as solar devices as well as PV devices, digital customer platforms. In order to ensure quick and hassle free business transactions, security of data exchange shall be essential in an ever changing environment. This is where block chain comes in.

In a dynamic landscape, many companies have entered this industry in order to take advantage of the increasing growth rate. According to the study, ‘Blockchain In Utilities - Thematic Research’, some of the companies that provide block chain technology services to the utility industry include Accenture, Cognizant, Credit China FinTech, Goldman Sachs, IBM, Microsoft, Ping An, Santander, Axoni, BitFury,Digital Asset Holdings, Filament, LO3 Energy, R3, Ripple, Slock.it, Grid Singularity, Veridium Labs, Ponton (Enerchain), Power Ledger, Electron, Innogy/E.ON, TenneT and Centrica. There are various benefits that are involved with the use of block chain. The major benefits involved with the use of block chain technology are system transparency as well as data security. A distributed ledger will make it possible for machine to machine learning. One of the big assets that are involved with the block chain that could prove extremely useful in the utilities industry is the certification and traceability.

Utilities market is also becoming more and more decentralised as a result of growing importance of this type of distribution channel. Therefore the market that channel that is dominant is the decentralized one. The major problem with centralized distribution channel has also risen due to the increasing adoption of electric vehicles and so are the factors like small and local micro energy micro grids. Increasing the use of technology such as block chain allows for coordination between many players and also facilitates the transfer of information between two conflicting players through the mechanism is smart contracts. Block chain also has the potential to ease out the billing process by reducing the time that is spent on paying these due to a technology called smart metering. Smart metres associated with block chain can be used to create an environment of safety and transparency.

The competition landscape of the industry is fragmented with many companies beginning their operations in this industry. However, major achievements with respect to the technology can be associated with big companies which tend to hold a high share in the market. The overall growth rate of the in block chain in the utilities sector has been increasing rapidly especially in the recent years. Although slow however, the growth shall be immense in the future.

To know more click on the link below:

https://www.kenresearch.com/technology-and-telecom/it-and-ites/blockchain-utilities-thematic/152710-105.html

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