Friday, August 30, 2019

Nigeria Freight Forwarding Market Outlook to 2023: Ken Research

The report titled “Nigeria Freight Forwarding Market Outlook to 2023 – By Sea, Land, Air, Rail, and Pipeline Freight; International and Domestic Freight, Integrated and Contract Logistics Freight Forwarding” provides a comprehensive analysis of the Freight forwarding market in Nigeria. The report covers the overall size and future outlook of Nigeria Freight Forwarding in terms of value, segmentation on the basis of service mix, by geography, by ownership and by type of industries. The report also covers the competitive landscape and company profiles of major Freight Forwarding companies. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and challenges.
Freight Forwarding Market Nigeria
Nigeria Freight Forwarding Market Overview and Size
Logistics is vital for the economic performance of any economy. Nigeria, like other African countries, has structural issues such as logistics infrastructure and cumbersome customs procedures at the seaports. In 2018, it ranked very low (131 out of 137) in terms of overall infrastructure and ranked 146 in the Ease of Doing Business Index. Nigeria Logistics Market has witnessed positive growth over the past few years and revived from a recession in 2017. The growth was mainly due to government initiatives such as the Standard Gauge Railway (SGR) by CCECC (China Civil Engineering Construction Corporation) and Development of ICD (Inland Container Depot) by the government in Nigeria. Nigeria’s huge oil and gas reserves make it a suitable destination for companies to invest.
Nigeria Freight Forwarding Market Segmentation
By Mode of Freight
Sea Transport dominated the freight forwarding market as the country is import oriented with almost all the products from consumer goods to electronic equipment imported from other foreign countries by sea. Major exporting products such as oil and petroleum products are transported by seaways only. Lagos Port Complex and Tincan Port Complex are two major seaports in Lagos. Road transport is important due to last-mile delivery in e-commerce and transporting goods to other neighboring African countries but is suffering from the poor condition of roads in the country. Air transport is not very popular in cargo transportation and used mostly for passenger transportation. Rail Transport is expected to grow with the introduction of SGR in Nigeria.
By Domestic and International Freight
The market share of International Freight has increased in comparison to domestic freight in the last few years. International Freight is dominant as Nigeria is an import oriented country and export oil and petroleum products. Moreover, with the formation of the African Union and implementation of African Continental Free Trade Agreement (AfCFTA), African Growth and Opportunity Act (AGOA), ECOWAS (Economic Community of West African States), international trade of Nigeria is at an all-time rise with other African Countries.
By Flow Corridors
Over the past decade, Europe has replaced Asia as the major trading partner of Nigeria. Nigeria imports refined petroleum products and machinery from Europe and exports Cocoa beans, crude oil and shipping and floating structures. EU ECOWAS Economic Partnership Agreement (EPA) is increasing trade with all West African countries. Asian countries such as China and India are major trading partners with Nigeria. Majority of Nigeria’s imports and exports are transported by seaports in Lagos and less percentage by air.
By End Users
The major end-users of freight forwarding services in Nigeria include the Food and Beverage, Industrial and retail sectors. The F&B sector also creates a demand for cold transportation for perishable items. Increasing Nigerian local food products in the country has triggered the demand for logistics and warehousing services. Products such as shipping structures, Machinery, and home appliances are increasing the demand for logistics in the country.
By Contract and Integrated Logistics
Third-Party Logistics in Nigeria has been thriving in the Nigeria Freight Forwarding Market. Nigerian freight forwarding market constitutes numerous small and medium enterprises. Due to infrastructural challenges, big market players prefer to outsource services to local transporters and focus on their core competencies. Companies do not wish to employ their own logistics arm since it involves capital investment and a lot of hassle.
Competitive Scenario
The Nigeria Freight Forwarding market is highly scattered with over 1,200 local freight forwarding companies registered under the Council for Freight Forwarders in Nigeria. While the international players are few, they control the majority of Airfreight and Sea freight forwarding market. Domestic companies dominate in road freight forwarding market with almost all local and regional transporters/truckers. The industry is at a growth stage in terms of parameters such as technology, efficiency and service portfolio but not pricing as the logistic cost is too high leading to contraction of the manufacturing sector in the GDP. The cost of transporting 40ft container and 20 ft container to warehouses has increased 400% in the past few years.
Future Outlook and Projections
The market is expected to grow at a positive double-digit CAGR and the key growth drivers would include rising demand for products through online purchases which has augmented the E-commerce market. The increasing international trade volumes and domestic manufacturing are expected to increase the demand for freight forwarding services. The increasing year on year investment by the government of Nigeria on infrastructural and development projects such as Trans-African Highway (TAH), SGR, and improving the state of road, sea, and air transport network is also witnessed to positively impact the market. Due to such reasons, new firms continue to enter the market despite any tariff or trade barriers.
Key Segments Covered:-
Nigeria Freight Forwarding Market
By Mode of Freight
Road Freight
Rail Freight (Volume and Revenue)
Air Freight (Airfreight in Nigeria (Volume- Imports and Exports of Cargo and Mail By Airports)
Sea Freight (Volume By Import –Export And Cargo Type, Logistic cost, Container Freight Rates, CARGO duty, General Cargo Delivery Charges, And Ship Dues)
By Type of Freight
International Freight Revenue
Domestic Freight Revenue
By Flow Corridors
Asian Countries
European Countries
Middle East
America
African Countries
By Contract and Integrated
Contract Logistics Revenue
Integrated Logistics Revenue
By End-User
Food and Beverages
Industrial and Retail
Automotive
Others (Chemical products, fertilizers, pharmaceutical products, perfumes etc)
Companies Covered:-
DHL
BHN Logistics
Bollore Logistics
ABC Transport
UPS (United Postal Services)
Redstar Logistics
Maersk Line
MSC (Mediterranean Shipping Company)
TSL Logistics
Key Target Audience
Freight Forwarding Companies
E-Commerce Logistics Companies
3PL Companies
Consultancy Companies
Express Delivery Logistics Companies
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023
Key Topics Covered in the Report:-
Logistics Infrastructure in Nigeria
Nigeria Freight Forwarding Market Overview
Nigeria Freight Forwarding Market Size
Nigeria Freight Forwarding Market Segmentation
Competitive Scenario in Nigeria Freight Forwarding Market
Company Profiles of Major Players in Nigeria Freight Forwarding Market
Nigeria Freight Forwarding Market Future Outlook and Projections
Nigeria Freight Forwarding Future Market Size
Nigeria Freight Forwarding Market Future Segmentation
Analyst Recommendations
For More Information, Refer To Below Link:-
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Location: Nigeria

Global Hearing Aid Market Outlook to 2023: Ken Research

The report Titled “Global Hearing Aid Market Outlook to 2023 - By Hearing Aid Devices (By Ear and By Canal) and Hearing Implants (Cochlear implants and Hearing implants), By Region (Americas, Europe, Asia-Pacific and RoW), By Type of Distribution channel (Audiology & ENT clinics, Hospitals and Pharmacies)” provides a comprehensive analysis on Hearing Aid Market at Global level. The report covers various aspects including introduction, pricing analysis, market overview and genesis, trends and developments, Ecosystem, competitive landscape, government regulations and Country Snapshots. The report concludes with future market projection and analyst recommendations highlighting the major opportunities and cautions.


Market Overview
Global Hearing Aid market is at growth stage. Global Hearing Aid industry revenue has increased at a CAGR of 5.1% during the period 2013-2018. The market is gradually surging with more number of hearing loss patients, rising personal disposable income, growing demand for artificial intelligence and design modification in devices. The customers in the market are looking for comfort, convenience and customization at an affordable price. The customers are highly price sensitive with low and high bargaining power with respect to different countries.

The Global Hearing Aid market is being dominated by the Hearing Aid devices due to a reasonable price range and no surgical requirements. Mild to severe hearing loss patients are the hearing aid devices users. However, severe to profound may call for implantation surgery. Increase in hearing loss population and growing attention towards the devices which are not visible has led to an increase in the sales of customized hearing aid devices.

Global Hearing Aid Market Segmentation
By Type of Distribution Channel: Audiology and ENT clinics dominated the Hearing Aid market and contributed a major share in terms of generating revenues in 2018. Audiology and ENT clinics are the most preferable distribution channel as audiologists provide subscriptions and give recommendations according to the type of hearing loss. Hospitals accounted second highest revenue share, whereas Pharmacies accounted a mere revenue share in 2018.

By Region: The major revenue share of hearing aid market is held by Americas due to the purchasing power of individuals to spend on hearing aid devices. This makes the adoption of hearing aids easier. Europe holds the second highest market share, followed by Asia- Pacific and then Middle-East and Africa. APAC and Middle-East and Africa are expected to grow in coming future.

By Hearing Aid Devices Type: The Global Hearing Aid market in 2018 was dominated by Ear segment. People prefer to choose amongst price, comfort, quality and style of hearing aid device according to the recommendations given by their audiologists. By Canal has accounted second highest revenue share as the devices are customized and are available at higher prices.

By Ear Type of Devices: BTE accounted the highest revenue share in 2018 as the prices of BTE devices are lower when compared to the RIC and ITE devices. RIC hearing aid devices has the second highest revenue share. ITE devices had the third largest revenue share in 2018.

By Canal Type of Devices: IIC and CIC had the largest share by revenue in 2018 as they are customizable devices and are fitted in the ear canal. ITC hearing aid devices has accounted second highest revenue share in the year 2018.

By Region (Hearing Aid Devices): The major share of hearing aid devices market is held by Americas due to the purchasing power of individuals to spend on hearing aid devices and introduction of OTC devices. Europe holds the second highest revenue  share due to a higher number of hearing loss patients, which was followed by Asia- Pacific and then Middle-East and Africa. APAC and Middle-East and Africa are expected to grow in coming future.

By Hearing Implants Type: The Global Hearing Implants market in 2018 was dominated by the cochlear implant segment. Cochlear implants are largely preferred by hearing loss patients due to the success rate of implantation process and less surgical complications. BAHA implants has accounted second highest revenue share in hearing implants segment.

By Region (Hearing Implants): Americas dominated the Hearing Implants market and contributed a major share in terms of generating revenues in 2018. Europe holds the second highest revenue share which is followed by Asia-Pacific region. Some of the countries in APAC have tender programs for cochlear implants which can become one of a reason for higher growth in revenue in coming years. Rest of the world (RoW) holds a mere share in the revenue from hearing implants segment in the year 2018.

Competitive Landscape: The Global Hearing Aid market is moderately concentrated. The market has numerous players operating in the market. The major players in the market are Sonova, William Demant, Widex, Siavntos, GN Hearing, Starkey, MED-EL and Cochlear Limited. These players compete on the basis of Price, Brand Value, Product Differentiation, Technological advancements, Geographical Presence

Global Hearing Aid market Future Outlook: Global Hearing Aid market in terms of revenue will increase at a CAGR of 5.4% during the period 2018 – 2023E. The demand for hearing aids will be further augmented with the growth in the Hearing Loss patients. Moreover, rising reimbursement policies, increasing number of hearing aid dispensers and artificial intelligence can become major growth drivers in the coming future. The market is expected to grow in APAC and Middle-East and Africa region due to the higher untapped user base.

Key Segments Covered
By Type of Hearing Aid
Hearing Aid Devices
Hearing Implants

By Region
Americas
Europe
Asia-Pacific
RoW

By Type of Distribution Channel
Audiology and ENT Clinics
Hospitals
Pharmacies

By Type of Hearing Aid Devices
By Ear
By Canal

By Type of Hearing Implants
Cochlear
BAHA

By Hearing Implants in Region
Americas
Europe
Asia-Pacific
RoW

By Ear type of Hearing Device
BTE
RIC
ITE

By Canal type of Hearing Device
IIC and CIC
ITC

By Hearing Aid Devices in Region
Americas
Europe
Asia-Pacific
RoW

Key Target Audience
Hearing Aid Manufacturing Companies
International Manufacturers
Domestic Manufacturers
Private Equity Investors
Hospitals and ENT clinics
Government/ Regulatory Authorities

Time Period Captured in the Report:
Historical Period: 2013 - 2018
Forecast Period: 2019E - 2023E

Companies Covered:
Sonova Holdings
William Demant Holdings
GN Hearing
Widex
Sivantos
Starkey Hearing Technologies
Cochlear Limited
MED-EL
Rion Co. Ltd.
Zounds Hearing Inc.
Audina Hearing instruments
Microson
NewSound Hearing Aids

Key Topics Covered in the Report
Global Hearing Aid Market Overview and Genesis
Global Hearing Aid Market Size, 2013 - 2018
Global Hearing Aid Market Ecosystem
Global Hearing Aid Market Value Chain Analysis
Global Hearing aid devices and Hearing Implants Pricing Analysis
Global Hearing Aid Market Size by Revenue (2013 - 2018)
Global Hearing Aid Market Segmentation (2018)
By Type (Hearing Aid Devices and Hearing Implants)
Global Hearing Aid Devices Market Segmentation by type (By Ear and By Canal).
Global Hearing Aid Devices Market Segmentation by Ear type (ITE, BTE and RIC).
Global Hearing Aid Devices Market Segmentation by Canal type (IIC, CIC and ITC).
Global Hearing Aid Devices Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW)
Global Hearing Implants Market Segmentation by Type (Cochlear and BAHA).
Global Hearing Implants Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW)
Global Hearing Aid Market Segmentation by Distribution Channel (Audiology & ENT clinics, Hospitals and Pharmacies)
Global Hearing Aid Market Trends and Developments
Global Hearing Aid Market Snapshot of Major Countries in, 2013-2018
Global Hearing Aid Market Government Regulations, Certification and Labeling Practices
Global Hearing Aid Market Investment Scenario
Global Hearing Aid Market Mergers and Acquisitions of the companies, 2013-2018
Global Hearing Aid Market Trends and Developments
Global Hearing Aid Industry Porter’s Five Forces
Global Hearing Aid Market Competitive Landscape
Global Hearing Aid Market Company Profile of Major Players
Global Hearing Aid Market Future Outlook and Projections, 2019 - 2023E
Global Hearing Aid Market Future Outlook and Projections,  2019 - 2023E
Analyst Recommendations

For more information on the research report, refer to below link:
Global Hearing Aid Market Research Report

Related reports
Pediatric Hearing Aids Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Wireless Hearing Aid Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
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North America Market Insights On 3D Printing Outlook: Ken Research


Each 3D printer generates the parts dependent on the similar main principle, a digital model is turned into a physical three-dimensional object by totaling material a layer at a period. This is where the alternative term an additive manufacturing comes from. The 3D printing is a necessarily dissimilar method of way of introducing the parts compared to the traditional subtractive or formative manufacturing technologies. Not only has this, in 3D printing, no specific tool are needed. For instance, the part is produced directly onto the built platform layer-by-layer, which centrals to a unique set of advantages and restrictions.

Moreover, it is essentially to understand that 3D printing is a speedy advancing technology. It comes with its exceptional set of benefits, but also holds ups behind the traditional introducing in some methods.

According to the report analysis, ‘North America Market Insights on 3D Printing: Insights & Forecasts, 2018-2024: Emphasis on Component ((Product (Professional/Industrial Printer, Personal/Desktop 3D Printers), Material (Polymer, Plastic, Metals and Alloys, Ceramic, Other Materials), Technology ( Stereolithography, Selective Laser Sintering, Electron Beam Melting, Fused Deposition Modelling, Laminated object Manufacturing, Other Technologies))’ states that in North America market insights on 3D printing, there are several key players which recently functioning more perfectly for leading the highest market share and dominating the high value of market share more positively during the review period while significantly decreasing the printer costs, proficiently solving the legal issues faced by the foremost 3D players and generating the supportive regulatory framework includes 3D Systems Corporation, Arcam AB, Royal DSM N.V., Stratasys Ltd., Autodesk, Inc., The ExOne Company, Hoganas AB, Organovo Holdings, Inc., Mcor Technologies Ltd., Voxeljet AG and several others.

Additionally, on the basis of region, the US stays to lead the North America 3D printing market recognized to outgrowth in IT spending of country and wide selection of industries embracing 3D printing to manufacture extraordinary performing 3D customized products monitored by Canada and Mexico. Furthermore, on the basis of segmentation by the application type, the Functional parts apprehended maximum share during 2017 due to its fast speed, eminence and low cost of additive manufacturing. Meanwhile, the education and visual aids are estimated to register remarkable growth over the years to come in the corresponding economy.

Sideways, dependent on the segmentation by technology type, Fused Deposition Modeling attained the largest share in 2017 in regional 3D printing market as it is one of the projecting and manipulator friendly technologies that are generally used to generate 3D printed objects. Not only has this, on the basis of end user, the qualified to rapid acceptance of the 3D printing among small and medium companies in North America and bolstering digitization wherein 3D printing solutions have cemented the route for several other manufacturing companies, manufacturing sector engaged the prime share in 3D printing technology market.

Additionally, the government in North America has also appreciated the vast applications as well as the gigantic benefits of 3D printing which as further simplified the embracement of this innovative technology in the country. Therefore, in the coming years, North America market insights on 3D printing will increase more significantly over the near years.

For more information on the research report, refer to below link:-
North America 3D Printing Market

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
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Rise in Demand for Hygiene & Medical Products Expected to Drive World Breathable Film Market over the Forecast Period: Ken Research

Breathable Film is composed of micro porous structure which prevents the passage of water through coatings. Breathable film is formed by the combination of various mineral fillers for instance calcium carbonate and polymers. It is used as back-sheet materials which provide improved comfort and help to reduce skin rashes & sores. It is used for wall covering, house wraps, under-tile roofing, and facades. It provides extra security against extreme accumulation of moisture, prolongs service life, along with absorbent heat. The key benefits are included good processing, flexible breathability, lightweight nature and exceptional mechanical strength & adhesion.

According to study, “World Breathable film Market Research Report 2024(Covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world breathable film market are Mitsui Chemicals Inc., Hanjin P&C, Daedong, Trioplast Industrier AB, Clopay Plastic Products Company, FSPG Huahan, Rahil Foam Pvt. Ltd., Swanson Plastics, Celanese Corporation, The RKW Group, Shandong HaiWei, Daika Kogyo, Liansu Wanjia, Fatra A.S., Kimberley-Clark, American Polyfilm, Nitto Denko Corporation, Sunplac Corp., Arkema SA., DSM Engineering Plastics, Skymark, Covestor, Shanghai Zihua, Schweitzer-Mauduit International, Inc., Innovia Films, Toray Industries Inc., AvoTeck, Hans Chemical.

Based on type, breathable film market is segmented into polypropylene, polyethylene, polyurethane polyether block amide, polyether ester and co-polyamide. Polyethylene segment holds significant growth owing to its extensive use in the one-time use products for instance baby diapers, incontinence pads, and sanitary towels. Based on product type, market is segmented into micro-void, micro-porous and non-porous. Micro-porous films are used in disposable medical products for instance surgical gowns & gloves, while non-porous breathable films are used in food packaging & textiles. In addition, based on application, market is segmented into medical & healthcare, packaging, hygiene, building & construction, sports apparels, industrial protective apparel and others. The medical segment is leading the market due to increase in demand from manufacture sector for surgical drapes, patient gowns, surgical gowns, back-table covers, mayo stand covers, operation bed covers and gloves.

The breathable film market is driven by growth in demand from buildings & construction sector, followed by rise in demand for hygiene & medical products, increase in overall packaging market, rise in demand for convenience food & beverage products, increase in health consciousness & change in consumer trends, rise in requirement for baby disposables, growth in new product developments, increase in adult incontinence products, women’s sanitation products, and surge in birth rates & aging population. However, volatile raw material prices and stagnant growth in baby diapers in developed countries may impact the market. Moreover, increase in consumption of packaged food and untapped markets with lower penetration rates are key opportunities for market.

Based on geography, China and Japan countries holds major share in breathable film market owing to growth in consumption of breathable films in end-use industries and increase in disposable income. EU and USA are expected to witness higher growth rate due to increase in expansion facilities & health care concerns over the forecast period. In near future, it is estimated that the market will be reached at fast pace on account of rise in demand for waterproof garments in sports apparels and growth in production facilities.

For more information, click on the link below:
World Breathable film Market Research Report 2024

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Ankur Gupta, Head Marketing & Communications
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Daybrook Fisheries – Gulf Menhaden Fishmeal and Fish Oil Processing Company Comprehensive Profile: Ken Research

The Report titled “Comprehensive Profile: Daybrook Fisheries – Gulf Menhaden Fishmeal and Fish Oil Processing Company” provides a detailed analysis of Daybrook Fisheries which was acquired by Oceana Group in the year 2014. The report covers various aspects such as Overview of Daybrook Fisheries, Synergy between Oceana and Daybrook Fisheries and how it helped Oceana Group, Revenue and Production Volume of Daybrook Fisheries, Global Production of Fishmeal and Fish Oil. The report concludes with Future Management Guidance and Forecasting Global Fishmeal and Fish Oil Production.
Daybrook Fisheries Market Research Report
Overview of Daybrook Fisheries
Daybrook Fisheries is a vertically integrated fishing company engaged in harvesting and processing of Gulf Menhaden into Fish Meal and Fish Oil. These are then sold for aquaculture feeds and for further refining into dietary supplements. Daybrook Fisheries is the second-largest processor of Menhaden in the US. Gulf Menhaden are small oily fish and are migratory plankton surface-feeders that swim in large schools during the fishing season, which extends from mid-April to November.
Overview of Oceana Group
Oceana Group was established in the year 1918 in South Africa. Oceana Group is the largest fishing company in Africa and is an important participant of Namibia, Angolan, and US Industries. The core business for the Oceana group is catching, processing, marketing, and distribution of canned fish, fishmeal, fish oil, horse mackerel, squid and hake. The main target audience for the group is lower-end consumers who mainly prefer canned fish and horse mackerel. Oceana’s most well renowned for sale of canned pilchards under the Lucky star label. Majority of the sales revenue for Oceana’s group comes from South Africa and Namibia.
How the Acquisition of Daybrook Fisheries helped Oceana Group
Oceana’s group acquired Daybrook Fisheries in the year 2014 by a combination of merger and stock purchase. The rationale behind acquiring Daybrook Fisheries by Oceana was to expand Oceana’s international operations, increase the diversification of its targeted fish species, operational geography, and currency exposure and product profile. This acquisition will increase diversification to Oceana’s product mix and improve the currency exposure while creating a significantly larger group with multi-country exposure. It also acts as a platform to explore further initiatives globally.
Trends and Developments
Aquaculture growth at the world level is expected to continue facing challenges associated with factors that include environmental regulations, diseases related to stocking density and a reduction in the availability of optimal production locations. The popularity of omega 3 fatty acids in the human food diet and the specific characteristics required for feed by the aquaculture sector are assumed to have permanently increased the fish to oilseed oil price ratio and it is not expected that new feeding techniques will change this in the short to medium term. With slower but continuing growth in demand from aquaculture and rather stable supply, the price of fishmeal is expected to grow by a small amount relative to oilseed meals.
Competitive Landscape
The only major competitor for Daybrook Fisheries which is into processing and manufacturing of Fishmeal and Fish Oil is Omega Protein Corporation. Although Daybrook fisheries are one of the largest processors of Menhaden in the US it is responsible for the majority of the Annual Gulf Menhaden Catch. Omega Protein is the market leader and has considerable presence in the region. As fishmeal and fish oil prices increase in the future, it is expected that new players will enter the market.
Future Outlook
Prices of fishmeal and fish oil are expected to continue trending upwards as a result of strong global demand. High feed prices could have an impact on the species composition in aquaculture, with a shift towards those species requiring less expensive and/or lower quantities of feed or no feed. The company (Oceana) should focus on Off-Season maintenance of the production facilities of Daybrook Fisheries. This will result in an increase in the yield and improve the productivity of the plant.
Key Target Audience:-
Fishing Companies
Consultants
Investment Banks
Private Equity Firms
End Users of Fishmeal and Fish Oil
For More Information, Refer To Below Link:-
Related Report by Ken Research:-
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Location: North America

Augmenting Trends in the Mena Market Insights on Automotive Material Outlook: Ken Research


The automotive market has two major distinct sectors, the large-volume segment and the specialist field introducing the modified or complete vehicles in the small numbers. The challenges of every are dissimilar and this is replicated in the method car produces method the usage of composites. The foremost benefits composites suggest the automotive applications are in the price deduction, weight deduction and recyclability. The Composites suggest several structural and weight benefits over the traditional steel and injection moulded automotive parts.
In addition, the potential players in the automotive composite material market are playing an important role for increasing the application, decreasing the prices of the good and increasing the requirement for the automotive composite material which further benefitted for generating the high amount of revenue.

According to the report analysis, ‘MENA Market Insights on Automotive Composite Materials, 2018-2024: Emphasis on Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic Matrix Composites and Hybrid Composites), Manufacturing Process (Hand Lay up, Compression Molding, Injection Molding, Resin Transfer Molding)’ states that in the MENA market insights on automotive composite material, there are several key players which recently functioning more positively for leading the fastest market growth and registering the high value of market share during the short duration while effectively increase in the need of the composites among the hybrid and electric vehicles, enormously decreasing the price of raw material and increasing the scope of hybrid composite materials includes BASF SE, DowDuPont Inc., Gurit Holding AG, Magna International Inc., Mitsubishi Chemical Holdings Corporation, Owens Corning, SGL Group, Solvay SA, Teijin Limited, Toray Industries Inc. and several others.
Additionally based on the applications, among the numerous application areas, exterior segment registered the market. However, a gradual lead in the adoption rate of composite materials for vehicle interiors is estimated in the coming years. Not only has this, on the basis of vehicle type, this sector involves the performance cars, passenger cars and several other (commercial vehicles and others). In 2017, Passenger cars controlled the determined market share and they are anticipated to overcome during the forecast period.
Sideways, based on the country, the Saudi Arabia controlled the largest market share in 2017 and the country is estimated to remain dominant during the review period. Owing to the augmented percentage of GHG emissions in the region owing to the nonexistence of government attention.
In the terms of revenue, the Automotive Composite Material market in Middle East and North Africa Market economy is predicted to increase rapidly. Increasing emission standards in several economies across the region are boosting the growth of this market in MENA. However, high cost of the raw materials and recyclability issues are restricting the market growth.
Furthermore, on the basis of material type, the major widespread composite type among the automakers is PMC, as they have extraordinary flexibility, high insulation, lower density and lighter weight than other composite material varieties. The PMCs are the most common composite type among the automakers, as they have high elasticity, high insulation, subordinate density and lighter weight than many other composite material types. Therefore, in the near years, it is anticipated that the MENA insights on the automotive composite material will increase more positively over the coming years.
To know more, click on the link below:-
MENA Automotive Composite Materials Market
Related Reports:-
Global Automotive Composite Materials Market Analysis 2013-2018 and Forecast 2019-2024
Global Automotive Composite Materials Market Analysis 2013-2018 and Forecast 2019-2024
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Ken Research
Ankur Gupta, Head Marketing & Communications
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