Philippines Used Car Market Research Report: Ken Research

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What Is The Current Potential Of Philippines Pre-Owned Car Market?

Philippines used car market is currently at its growth stage with a growing appetite for certified and non-certified passenger cars. The used car market in terms of volume sales has increased to ~units in 2018 from ~ units in 2014 registering a CAGR of ~% over the review period 2014-2018. The market is largely fragmented with the presence of multi-brand dealers and large a number of individual sellers. Within the organized market, Direct Dealership Sales Agents (DDSA) and repossessed car sellers have a fairly concentrated market with only a few players supplying used cars in the market. The pre-owned vehicle buyers in Philippines have shown higher interest in certified cars over non-certified cars due to better quality of refurbishment and replacement services of faulty parts with original parts, better after-sales services, and complete car inspection to compute the roadworthiness, extended warranty & other documentation and finance services.

The used car market of Philippines by the value of the transaction has increased from PHP ~ billion in 2014 to PHP ~ billion in 2018. There are various reasons for the surge in market size by value of the transaction and one of the most significant reasons is the surging average ticket size of used cars in the Philippines. The market share of the organized market has surged from ~% in 2014 to ~% in 2018. It has been observed that more and more OEM dealers are integrating certification infrastructure to attract more used car buyers. It has also been observed that in the last 5 years, the value of non-performing auto loans has surged significantly resulting in more foreclosures and auctions of repossessed cars by banks. The online channel has served as a platform for both organized and unorganized pre-owned car players to connect and conclude sales.

Industry Value Chain in Philippines Used Car Market

The Philippines used car market comprises of organized and unorganized market players.  The unorganized market comprises of individual sellers and freelancers who supply the major volumes of used cars to the market. The new cars purchased by individuals in the Philippines generally convert into used cars within a span of 3-5 years. Later, these units are either sold to friends and family via word of mouth or are sold to multi-brand dealers via listing on online classifieds. If the vehicle is in good condition, the seller can sell the unit to DDSA also. Within the organized market, multi-brand dealers of used cars supply the highest volume of used cars in the market.     The multi-brand dealers procure the used cars from either individual sellers, DDSA and from bank auctions of repossessed cars. In the case of DDSA, the cars are mostly procured via trade-ins, i.e., when the seller wishes to upgrade the vehicle to a new model of the same brand through an exchange program. The share of DDSA is expected to surge to ~% by 2023. The banks procure repossessed cars from vehicle buyers, who default on their auto loan. In this case, the bank confiscates the used cars and auctions it to the general public through tenders/auctions. Banks auction vehicles to players in both organized and unorganized market. Online platforms have provided the used car market players a convenient way to list vehicles and increase their reach to the target audience. Classified pages, online auto portals and social media handles such as Facebook have become the foundation of the online used car market in the Philippines.

Major Segmentations in Philippines Used Car Market

By Type of Market: The market is segmented in terms of organized market and unorganized market. In the Philippines, the organized market has a low market share compared to the unorganized market. The organized market consists of repossessed car dealers; DDSA’s and multi-brand used car dealers. On the other hand, the unorganized market consists of freelancers and individuals used car buyers and sellers.

By Average Replacement Period: The average replacement period segmentation deciphers the average time the vehicle the owner uses its asset and then sells it in the open market. It has been observed that on average, the vehicle owner retains the fleet for at least 3-5 years.

Major Segmentations In Philippines Used Car Market

By Type of Sales Channel: Within the organized market, the sales channel is either a direct dealership walk-in or a lead generated by the online portals for the organized players to increase the sale probability. In the case of the online channel, the eventual sale of the unit takes place from a physical location only.

The unorganized market players also take advantage of listing their fleet of the vehicle on classified portals and social media to increase the outreach. The other channel is direct dealer sellout, wherein the individual seller disposes of the used car for a fair market price to either the multi-brand dealer or DDSA. Unorganized players also depend on word of mouth as a sales channel, wherein the individual consumer sells the vehicle to a known individual within friends or family.

Competitive Landscape in Philippines Used Car Market

Competition within the Philippines used the car market was witnessed to be fragmented in nature with the unorganized market capturing the majority of the market share. Most of the used car sellers in the Philippines belong to the unorganized market constituting of free-lancers and individual sellers. The unorganized players in the market are highly dependent on the online channel and are relatively lesser dependent on word of mouth channels. The unorganized market in the Philippines has a ~% market share in terms of sales volume in 2018. In terms of the vehicle brand type, the market is concentrated with 5 major brands accounting for ~% of the market share in the Philippines used car market. The major five brands are Toyota, Honda, Nissan, Hyundai, and Mitsubishi. Within the organized market, the competition within volumes supplied by the DDSA is fairly concentrated with the presence of 30-40 players. The Direct Dealership Sales Agents (DDSA) market segment has 5 major players holding ~% of the market share and are supplying both certified and non-certified used cars in the market. In the Philippines, the auto loan default rate is on surge due to higher inflation. This has resulted in banks auctioning the forfeited units to multi-brand dealers and others. The market is moderately fragmented with no bank having a share of more than ~% in terms of volume of repossessed cars auctioned in the market in 2018.

Key Segments Covered:-

Philippines Used Car Market Overview and Size

By Type of Market Structure

Organized Market

Unorganized Market

By Type of Sales Origin (Organised Market)

Direct Dealership Sales Agent

Repossessed Units Sold By Banks

Multi Brand Dealers

By Type of Sales Channel (Organised Market)

Online Platforms

Dealership Walk-ins

By Average Ticket Size of Used Vehicle

By Average Vehicle Replacement Period

By Type of Vehicle Manufacturer/Brand

Japanese Brands

German Brands

American Brands

Korean Brands

Other European Brands

British Brands

Others

Key Target Audience:-

Potential Direct Dealership Sales Agents

Existing Multi-Brand Dealerships

Banks & Subsidiaries

Captive Finance Companies

Non-Banking Financial Institutions

Cab Aggregators and Car Rental Companies

Government Organizations

Online Auto Portals

Classified Pages

Investors and VC Firms

Industry Associations

Time Period Captured in the Report:-

Financial Year 2014-2018: Historical Period

Financial Year 2019-2023: Future Forecast

Companies Cited in the Report:-

Brand

Toyota

Nissan

Hyundai

Honda

Mitsubishi

Ford

DDSA

Toyota Certified

Honda Philippines

Nissan Intelligent Choice

Hyundai Philippines

Mitsubishi Certified

Banks

BDO

PS Bank

BPI

East West Bank

China Bank

RCBC

May Bank

Sterling Bank

Security Bank

Classified Pages/ Online Auto Portal

Phil Kotse.com

OLX

Auto Deal.com

CarMudi Philippines

Key Topics Covered in the Report:-

Used car Sales Market Philippines

Philippines Used Car Market

Used Car Market in Philippines

Repossessed Cars for Sale Philippines

2nd hand Cars for Sale Philippines

Pre-owned car sales Philippines

Philippines Used Car Industry

Used Car Industry Philippines

Used Car Industry in Philippines

Used Car Services Market in Philippines

Market of Philippines Used Car

Pre-owned vehicle buyers in Philippines

Used car market of the Philippines

For More Information On The Research Report, Refer To Below Link:-

Philippines Used Car Industry

Related Reports by Ken Research:-

Indonesia Used Car Market Outlook to 2023 - Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales

UAE Used Car and Auto Classified Market Outlook to 2022 - By Revenue Streams (Commission, Paid Listings, Banner Advertisement), By Export and Domestic Sales

Russia Used Car Market Outlook to 2022 - by Type of Car (Sedans, Crossovers and SUVs, Hatchbacks and Others include Micro Vans and MPVs) by Car Age, by Distribution Channels (Dealers and Online)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com

+91-9015378249

Increase in Awareness about Health Concerns Expected to Drive World Whirlpool Bath Market over the Forecast Period: Ken Research

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Whirlpool bath is a bath or bathtub, fitted with whirlpool jets that are placed on the side of bath shell and operated by controls which are placed onto the deck of the bath or fixed remotely near the bathtub. It can be created in any size tank or tub, making it probable to immerse the whole body for hydro-massage effect. It is classified as vibra bath unit, combination of arm/leg & hip whirlpool bathtub and Jacuzzi or hydro-massage unit. It provides a wide array of health benefits such as improved blood circulation, relaxation, and sore muscle & joint relief. Apart from these health benefits, some of the other benefits are improving local arterial & lymphatic circulation, producing vasodilatation, cleaning & stimulation of wounds, diminution of edema & effusion, mechanically removes dirt, dead tissue & pus, breaking down old adhesions after fractures of sprains and softening of scar tissue. In addition, some of the contradictions are active bleeding, skin allergy, open wounds, circulatory impairment, feverish patient and hemorrhage.

According to study, “World Whirlpool Bath Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world whirlpool bath market are Jacuzzi, CRW Bathrooms, Aquatic, TOTO, Kohler, MAAX, Duravit, Mansfield, Sanitec, American Standard, Caesar, Atlantic Whirlpools, Novellini, Jason International, Hydro Systems, Roca, HOESCH Design, Royal Baths, Huida Group, Ariel, WW, Sunrans, Wisdom, Yuehua, Baili. Manufacturers are focusing on initiation innovative bath tubs with energy-efficient features. Large enterprises compete through breadth of products, volume purchasing, and effective merchandising & marketing while Small enterprises compete through the depth of products & superior customer service.

Based on type, whirlpool bath market is segmented into fixed whirlpool bathtubs and portable whirlpool bathtubs. Based on size, market is segmented into low boy tub, high boy tub (hip or leg tub), Hubbard tub (full body immersion) and extremity tub. Based on shape, market is segmented into corner, oval, rectangle and other. Based on temperature range, market is segmented into cold (55-65 degree), cool (65-80 degree), tepid (80-95 degree), warm (96-99 degree), hot (99-104) and very hot (104-110 degree). Based on water capacity, market is segmented into 700 liters, 700-900 liters, 900-1600 liters, 1600-2500 liters, 2500-7000 liters, and more than 7000 liters. Based on installation area, market is segmented into outdoor and indoor. In addition, based on application, market is segmented into commercial (spas & salons, hotels) and residential. Commercial segment holds major share in market owing to rapid growth in hotels and spa & salons centers.

The whirlpool bath market is driven by increase in awareness about health, followed by rise in disposable income, rapid technological advancements, rapid urbanization and change in lifestyle of individuals. Moreover, fluctuation in prices of raw materials may impact the market.

Based on geography, USA country holds major share in whirlpool bath market owing to huge number of small, mid and large sized manufacturers in the country. China and India countries are expected to witness higher growth rate due to rise in young population and increase in awareness about health concerns over the forecast period. It is projected that the market will be reached at quick pace on account of rise in investment in residential & commercial sector during the forecast period.

For more information, click on the link below:

Global Whirlpool Bath Market       

Contact Us:    

Ken Research                                   

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91 9015378249

Vietnam Used Car Market Research Report And Market Forecast: Ken Research

How Vietnam Used Car Market is Positioned?

Vietnam’s automobile is still an infant industry, with used car market being in early growth stage.

Due to underdeveloped infrastructure and high taxes and fees levied on the cars, people in Vietnam prefer to buy a used motor vehicle as there is a high rate of depreciation. For middle or lower income group people, used cars have become more popular choices since the ban on motorbikes were announced in 2017.

Owing to relatively high production costs due to high fees on imported parts as well as lack of economies of scale, the vehicle ownership level is much lower in Vietnam as compared to various developed economies such as Thailand and Indonesia. The used car market of Vietnam is highly fragmented with presence of more than ~ dealership outlets.

The growth in Vietnam Used Car Market is primarily driven by the growing middle class population, faster car replacement rate and increasing number of government initiatives with respect to free trade agreements and reduction in taxes and import tariffs.

The Gross Transaction Value (GTV) from sale of used cars in Vietnam has increased from USD ~ in 2013 to USD ~ in 2018 at a CAGR of ~% during the period 2013-2018. Vietnam used car market in terms of sales volume has increased from sale of ~ units in the year 2013 to the sale of ~ units during the year 2018 largely due to faster replacement period of cars in the market. The increase in number of inspection checks and direct connectivity with the buyer and seller has led to significant growth in sale of used cars in the country.

How Vietnam Used Car market Segmented?

By Type of Vehicle

Sedans accounted for the highest market share in terms of sales volume in the used car market of Vietnam by capturing ~% in the year 2018. Sedans have high average car life and are conferred as a higher social status. Sedans are followed by SUVs in 2018 capturing ~% of total sales in Vietnam used car sales. SUVs have off late become more popular in Vietnam on account of most of the major companies launching stylish and affordable models. MPV’s were the third most preferable vehicle category with ~% market share in terms of sales volume followed by Hatchbacks, CTV’s and other vehicle types such as Micro vans capturing the remaining share.

By Vehicle Age

Used cars under the age bracket of 2-4years dominated the market share contributing ~% share during the year 2018. The average ownership period in Vietnam is ~ years due to which the age bracket accounted for the highest share.

Sale of used vehicles within the age bracket of 4-6 years accounted for ~% share during the year 2018 and cars within the age bracket of 0-2 years accounted for a minimum share of ~% as it usually consists of hatchbacks. Cars sold under the age bracket of more than 6 years declined from ~% in 2013 to ~% in 2018 due to faster replacement period of cars which has improved from ~ years in 2013 to ~ years in 2018.

By Region

The northern region accounted the highest percentage share in terms of sales volume of ~% during the year 2018 as these regions are prone to flood due to which the average replacement period is higher. It was followed by southern region accounting for ~% of sales volume. This region has the highest middle class population who prefer to buy an affordable used car thus boosting the sale of used car in the region. The remaining share was captured by the Central region where majority of the car rental companies operating in Vietnam are purchasing and renting out used cars.

By City

Hanoi and Ho Chi Minh City accounted for the highest share of ~% and ~% respectively in terms of sales volume in the year 2018. The high market share was largely due to high population, developed infrastructure and faster replacement period. Hai Phong and Da Nang along with other cities contributed the remaining share in total sales value of used cars in the country owing to the rising infrastructural development and building up of new residential hubs in the region.

By Price Range

Cars under the price range of VND 400 Million – VND 600 Million accounted the highest sales volume of ~% of the market share among all the price ranges. This is largely due to the affordability of middle class population that prefers buying a used vehicle over a new vehicle. The price range of Less than VND 200 Million captured ~% of the market share and mainly comprises of Hatchbacks, MPVs and Sedans which are generally replaced after 6 years largely due to incapability of purchasing new car at shorter period. It was followed by cars under the age bracket of VND 600 Million – VND 800 Million capturing market share of ~% in the year 2018. The price range of VND 800 Million – VND 1 billion comprises of the luxury cars such as Mercedes Benz and Audi captured the remaining market share of ~% of total sales volume in the year 2018.

By Brands

Japanese and Korean brands are the most preferred brands in Vietnam due to strong brand preference, reliability, longer life span, and higher re-sale value of the used car. Toyota dominated the market capturing market share of ~% followed by Ford, KIA, Mazda and Honda capturing market share of ~%, ~%, ~% and ~% respectively in terms of sales volume in 2018. The major reasons include the stylish models preferred by the millennial, assurance of car quality, high resale value, convenience in maintenance and services provided and certifications being given by the captive dealer showrooms of these brands. Other brands such as Mitsubishi, Chevrolet and others captured the remaining market share of used cars sales volume in 2018.

Key Segments Covered:-

By Type of Vehicle

Sedans

 SUV’s

MPVs

Hatchbacks

Cross Type Vehicles (CTVs)

Others

By Vehicle Age

0-2 Years

2-4 Years

4-6 Years

More than 6 Years

By Region

North

South

Central

By Cities

Hanoi

HCMC

Hai Phong

Da Nang

Others

By Price

Less Than VND 200 Million

VND 200 Million – VND 400 Million

VND 400 Million – VND 600 Million

VND 600 Million – VND 800 Million

More Than VND 800 Million

By Brand

Toyota

Mazda

Ford

Kia

Honda

Chevrolet

Mitsubishi

Others

Key Target Audience:-

OEM’S Companies

Multi Brand Dealers

Captive Dealers

Venture Capitalist Firms

Government/ Regulatory Authorities

Online Auto-Classifieds

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2019E-2025E

Companies Covered:-

Major Online Players in Vietnam:-

Bonbanh

Oto

Carmudi

Choxe

Chotot

Major Captive Dealers:-

Than Xuan Ford

Mercedes Benz An Du

Hyundai Dong Do

Toyota An Suong

Multi-Brand Dealers

Anycar

Viet Han Used Car

Hien Toyota

Hoa Binh Auto

For more information, refer to below link:-

Vietnam Used Car Market

Related Reports:-

China Used Vehicle Market Outlook to 2022 - by Type of Vehicle (Sedans, SUVs, Micro Vans, MPVs, Trucks, Buses, Cross Type Vehicles, Trailers, Motor Cycles and Low Speed Trucks), by Vehicle Age, by Distribution Channels, by Region, by Price of Vehicle

Indonesia Used Car Market Outlook to 2023 - Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Transformation In The Worldwide Financial Brokerage Market Outlook: Ken Research

Financial Brokerage Market: - The financial market in the Philippines is presently one of the most auspicious financial markets in the South-Asia region with the very few financial products suggested for trading at recent but will augment in a few years. Trading activities in the Philippines the region is exceedingly regulated owing to very low trading volume and comparatively fewer trading accounts, most of the brokerage firms deliver the brokerage services at the bottommost cost prescribed by the SEC. Presently, the players charge brokerage fees for equity trading and schedule to enlarge the financial services towards asset management, mutual funds, algorithmic trading, wealth management, top picks, and several other services that can lure the consumers.

Additionally, the overall revenue in the financial brokerage industry observed an increasing trend on account of a deduction in simplification of tax structure for trading, growing investor’s confidence and political stability in the Philippines in the last years. Based on the type of trading activity, in the market of financial brokerage, the segment of equity has registered the overall market in the terms of transaction volume throughout the review period which was supplemented by the greater liquidity in the equity, issuance of bonus shares in few instances thereby extenuating the considerable share of equity in the overall market. Moreover, the commodities’ trading was adjourned by the SEC back in the 1990s and has not been begun yet. PSE is in the initial phase to restart the Commodities and Derivatives Exchange and is predicted to begin the sector very soon. Owing to the nonattendance of the Commodities and Future exchange, trading in the several other instruments have not been ubiquitous yet. Commencement of trading in this sector will open an added revenue stream for the brokerage corporate.

Whereas, based on the mode of trading, in the financial brokerage market, trades are positioned by the investors along with the traditional model that is through the broker’s support or through the online mode where the investors place orders online by a trading platform.

For instance, during the period of 2013-2018, the Indonesia Financial Brokerage market was witnessed in an increasing stage wherein the market observed slow growth. The phase also witnessed presidentially and parliamentary elections and pursued lower awareness among the investors related to the financial markets.

The competitive landscape of the industry is categorized by the exceedingly fragmented market structure with 104 brokerage firms challenging majorly dependent on the transaction charges, service portfolio, quality of services, firm’s reputation and online trading conveniences for retail clients. Among the local brokerage firms, in terms of revenue the important, the player in the market is Mandiri Sekuritas involvement in the industry whereas CGS-CIMB has the maximum revenue market share among the global firms.

Furthermore, the Financial Brokerage market is anticipated to increase in terms of revenue owing to the steady the positive economic outlook of the country, develop in the country’s rating, estimated growth in the foreign portfolio investments, augmenting the penetration rate among the domestic investors, increasing the number of IPOs, capital demands of the government for infrastructure building and the boost in the mutual fund's sector of the capital market. Therefore, in the near years, it is anticipated that the global market of financial brokerage will increase around the globe more significantly over the coming years.

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Rise in Demand from Food & Beverage Industry Expected to Drive World Tinplate Market over the Forecast Period: Ken Research

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Tinplate comprises of sheets of steel and coated with a thin layer of tin. It is commonly used for the production of metal cans, which serves food-service industry and others. It is also used to prevent rust. The process of forming tinplate is also known as tinning. Various corrosion processes happen to tinplate such as erosion corrosion, pitting corrosion and filliform corrosion.

The key features are good mechanical properties, excellent barrier and high moisture resistance.

According to study, “World Tinplate Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world tinplate market are Arcelor Mittal, Thyen Krupp, NMC, TCIL (TATA Steel), JFE Steel, Berlin Metal, POSCO, Toyo Kohan Co. Ltd., Tonyi, U.S. Steel, Ohio Coatings Company, TCC Steel, NSSMC, Mailly, Baosteel, Titan Steel, Hebei Iron and Steel, Guangnan, Tianjin Jiyu Steel, Tinplate Company of India Ltd., CPMC Holdings Limited (COFCO Group), Nippon Steel & Sumitomo Metal Corp., WISCO, Sino East. Key manufacturers are taking initiatives for the production of eco-friendly cans to expand the recyclability rate.

Based on type, tinplate market is segmented into 1 piece tinplate, 2 piece tinplate and 3 piece tinplate. Based on grade type, market is segmented into prime grade tinplate, secondary grade tinplate and others. Based on cans type, market is segmented into conetop cans, paint cans, aerosol cans, monotop cans, oblong/f-style cans, edible oil cans and others. Based on capacity of cans type, market is segmented into <350 ml, 350-500 ml, 500-1000 ml, 1000-2000 ml, 2000-5000 ml and >5000 ml. Based on application, market is segmented into food cans, beverage cans, bottle cap and others. In addition, based on end-user, market is segmented into electronics, packaging, pharmaceutical industry, engineering, construction and others. Pharmaceutical industry holds major share in market owing to its high corrosion resistant properties. Packaging segment is expected to witness higher growth rate due to increase in demand of packaged food in developing countries over the forecast period.

The tinplate market is driven by rise in demand from food & beverage industry, followed by growth in use from pharmaceutical industry, increase in demand for chemical-free canned foods, rise in number of superstores & grocery stores, widespread promotional activities & research developments, growth in number of smaller households, rise in need for processed foods, increase in government initiatives and rise in disposable income & change in life style. However, fluctuating price of the raw material may impact the market. Moreover, increase in health awareness regarding use of non-carcinogenic packaging materials is a key opportunity for market.

Based on geography, China country holds major share in tinplate market owing to large consumption of food & beverages, hectic and busy lifestyles of consumers and increase in population in the country. Europe and USA are expected to witness higher growth rate due to presence of large number of manufacturers, increase in demand for both alcoholic and non-alcoholic beverages among consumers and increase in consumers’ concern towards the natural environment increases over the forecast period. It is anticipated that the market will be reached at rapid pace on account of rise in demand for lightweight packing and ability to preserve the freshness & quality of food for a long time during the forecast period.

For more information, click on the link below:

Global Tinplate Market         

Contact Us:    

Ken Research                                   

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91 9015378249

Growth in Demand for Tire & Rubber Products Expected to Drive World Zinc Oxide Market over the Forecast Period: Ken Research

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According to study, “World Zinc Oxide Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world zinc oxide market areUSZinc, Zinc Nacional, Zochem, GH Chemicals, Zinc Oxide LLC, GrilloZinkoxid GmbH, Silox S.A, MarioPilato Blat SA, Rubamin, Horsehead Corporation, Umicore, Pan-Continental Chemical Co. Ltd., Brueggemann Chemical, American Chemet Corporation, Yongchang, A-Ee, Zhongse, Hakusui, Haihua, Seyang, HepsenKimya San. Tic. Ltd., WeifangLongda Zinc Industry Co., Ltd., LiuzhouZinc, Longli, Haigang, Xingyuan. Major companies are focusing on new product development & agreement to tap the opportunities in applications, such as solar energy, electronics, pharmaceuticals and surface coatings.

Zinc oxide is an inorganic compound with chemical formula ZnO. It is insoluble in water. It is obtained as a white powder, produced synthetically from naturally occurring mineral zincite. Zincite is chemically heated to combine by oxygen molecules. The solution is then vaporized & condensed and formed into powder, which has various medicinal uses and employed as an additive in several materials for instance plastics, rubbers, batteries, sealants, ceramics, glass, cement paints, adhesives, paints, lubricants, ferrites, pigments, foods and fire retardants. It has many applications in pharmaceutical industry, especially in skin care products. It is employed as a raw material in production of creams, ointments, baby powders, lotions and anti-dandruff shampoo. It has numerous applications as an antiseptic in antiseptic creams & first-aid bandages owing to its usage as an astringent, antiseptic and topical protectant.

The key properties include high electrochemical coupling coefficient, high chemical stability, high photo-stability and broad range of radiation absorption.

Based on type, zinc oxide market is segmented into wet chemical process, direct process (American method) and indirect process (French method). Based on form type, market is segmented into pellets form and powder form.Based on application, market is segmented into rubber, chemicals, cosmetic ingredients, ceramics, paints & coatings, food processing, and metal processing. Rubber segment holds major share in market owing to extensive usage of zinc oxide as main vulcanizing agent in vulcanization process of rubber. In addition, based on end-use, market is segmented into commercial transport, industrial, and consumer automobile.

The zinc oxide market is driven by growth in demand for tire & rubber products, followed by growth in automotive industry, increase in emerging applications for instance semiconductors & electronics and rise in demand for cosmetics & personal care products. However, rise in inventory cost and slow growth in end-user industries may impact the market. Moreover, increase in use in semiconductor industry is a key opportunity for market.

Based on geography, China and India countries hold major share in zinc oxide market owing to rise in demand from automotive tire industry and easy availability of land & cheap labor in the countries. USA and Europe are expected to witness lucrative growth due to presence of a large number of tier manufacturing companies and increase in production of cosmetic products over the forecast period. It is projected that future of the market will be bright on account of rise in use of the product as a filter against ultraviolet (UV) rays in sun protection lotions during the forecast period. The global market is expected to grow at a CAGR of approximately 2.0% over the next five years, will reach US $4320.3 million in 2024, from US $3988.3 million in 2019.

For more information on the research report, refer to below link:

Global Zinc Oxide Market Research Report

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Active Zinc Oxide Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Rise in Vehicle Production Expected to Drive World Tailpipe Market over the Forecast Period: Ken Research

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Tailpipe is a part of an exhaust system. It is an exit point of exhaust system, used to transmit or carry different noxious & toxic gases away from the users of the vehicle. It is manufactured using different metals for instance zinc-plated heavy gauzed steel, aluminized steel or stainless steel. The exhaust gases are generally very hot, but tailpipe does not spoiled by heat due to its heat resistant and durable properties. Various tailpipes have a small resonator inside, which can decrease the noise. A chic tailpipe increases the beauty of automobiles.

According to study, “World Tailpipe Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world tailpipe market are Tenneco Inc., AMG, Faurecia SA, Breitinger, REMUS, SANGO Co. Ltd., Milltek Sport, Eberspacher GmbH & Co. Ltd., Tajco Group, Sankei, AP Exhaust, Magna Flow, TRUST, Kreiieg, BORLA, Ningbo Siming, Shanghai Baolong, Shandong Xinyi, Shenyang SWAT, Huzhou Xingxing, Wenzhou Yongchang, Ningbo NTC, Futaba Industrial Co. Ltd., Qingdao Greatwall, Guangdong HCF, Dongfeng. Key manufacturers are focusing on increasing their manufacture for meeting the growing need of these systems.

Based on product type, tailpipe market is segmented into single tailpipe and double tailpipe. Based on vehicle type, market is segmented into heavy commercial vehicles (HCV), light commercial vehicles (LCV), and passenger vehicles. Based on fuel type, market is segmented into diesel and gasoline. Based on after treatment device, market is segmented into Diesel Particulate Filter (DPF), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR) and Lean Nox Trap (LNT). Based on off-highway vehicle, market is segmented into construction equipment and agriculture tractor. Based on channel type, market is segmented into aftermarket and original equipment manufacturer (OEM). In addition, based on application, market is segmented into large displacement cars and low emiion cars.

The tailpipe market is driven by growth in vehicle production, followed by rise in automotive exhaust system manufacturing, increase in awareness of people regarding the environmental hazards, rise in technical advancements, growth in urbanization & rise in disposable income, and increase in research & development (R&D) activities. Additionally, increase in adoption of technologies to manufacture efficient tailpipes can offer several benefits for instance improved fuel consumption and reduced carbon dioxide emissions. However, high cost of lightweight exhaust components, increase in sales of Battery Electric Vehicles (BEVs), high CO2 emissions, rise in fuel prices and global harmonization of emission regulations may impact the market. Moreover, advanced exhaust heat recovery systems, introduction of Real Drive Emission (RDE) tests and increase in use of gasoline particulate filter (GPF) are key opportunities for market.

Based on geography, China, Japan and India countries hold major share in tailpipe market owing to favorable work conditions, high demand for passenger & commercial vehicles and easy availability of cheap labor in the countries. Europe and USA are also expected to witness higher growth rate due to rise in availability of low sulfur diesel, stringent government regulations and advancements in diesel technologies over the forecast period. It is anticipated that the market will be reached at fast pace on account of advancement in material technology during the forecast period.

To know more, click on the link below:-

Global Tailpipe Market Research Report

Related Reports:-

Global Car Tailpipe Market Analysis 2013-2018 and Forecast 2019-2024

Passenger Vehicle Tailpipe Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

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