Thursday, June 21, 2018

Finance Technology and Remittance Market Outlook: Ken Research

The remittance sector is constantly expanding and so is financial technology (fintech). Remittance Market Research Reports show that remittance has constituted the single largest source of foreign exchange in developing countries from 2000 onwards. The global community is searching for technologies that will improve the efficiency and safety of cross border money transfers known as remittances. Transferring money is expensive because there are limited connections between financial institutions and systems. Currently, there is a need to have a neutral network to tie dissimilar and isolated institutions so that money can be moved cheaply and seamlessly from one country to another.
Traditional remittance involves waiting in line for several hours and the burden of fees as well. Remittances cross national boundaries, currencies and financial institutions which lead to inefficient and expensive transactions for everyone. The rise of mobile and digital technology is changing the way we manage and move money.

1.                  Mobile phone usage is rampant and nowadays smart phones and internet technology are helping to reduce the cost and effort of transferring money. People who live in one city or country can now use basic cellular fintech services such as SMS to send money across to their family members. This method is widely accepted by people and is secure, convenient and affordable.

2.                  Digitalization of remittance has also originated in recent years thereby changing the very nature of money. Internet has driven this market and has reduced the transfer cost and time.

The remittance market is a valuable external source of funding for many families around the world. With help of internet, the growth of remittance market is driven by rise in digitalization and automation. Financial technology has been innovating in recent years in order to cater to the global remittance market which according to Remittance Industry Analysis is expected to surge shortly. Investments in fintech have majorly been for money transfer services. India occupies a prominent position in the global remittance market as remittances from Indians living abroad rose by nearly 10% in 2017 and India retained the top spot as the largest recipient of such payments. India was followed by China, Philippines and Mexico as the top countries receiving remittances.

New ventures are capitalizing on the trend propelled by the rise of mobile technology. There are a handful of popular fintech money transfer service providers influencing the fintech remittance industry out of which a considerable number of companies are based in the UK. These include WorldFirst, TransferWise, TransferGo and WorldRemit with the latter two having operations in 44 and 120 countries respectively. London based WorldRemit is highly renowned and competes with the US based Western Union who is the global leader in cross border/cross currency money movement operating in over 200 countries. Despite this WorldRemit is undertaking developments in order to increase its customer base from 2 million currently to 10 million by 2020.

The fintech developments are greatly augmenting the digital remittance market. The US and UK are catering well to the industry and are reaping profits evident by the fact they are world leaders. India though not as technologically advanced can be considered as a significant player having immense potential.

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Evolution to Eco-Friendly Packaging: Ken Research

Environmental sustainability and business do not go hand in hand especially when it comes to product packaging. Packaging has always been an important part of commercial business however; the materials used in the process have recently been identified as a cause for concern. Pressure has been put on the big business companies to reduce their extensive plastic use and other operations that involve use of non biodegradable packaging. Recent efforts are raising awareness and promoting research about eco friendly packaging. The criteria for ranking and comparing packaging based on their sustainability is an active area of development.

Packaging materials like plastic packets and sheets are not recyclable. Chips packets make use of multi layered packaging which according to experts is extremely difficult to treat appropriately. Single serving foods like curds are often packaged using tough plastics to give them strength. Despite their popular use these are extremely difficult to recycle. Modern developments “Packaging Insights: Innovation Scenarios in Sustainable Packaging Material Winners and Losers as Packaging Markets Become More Environmentally Friendly” are discovering new materials that can be used as replacements for conventional methods.

1.      Micro fibrillated cellulose (MFC) is obtained through a fibrillation process of cellulose fibers. Using mechanical shearing the cellulose fibers are separated into a network of micro fibrils with a large surface area. MFC fibers are stronger and stiffer than glass and carbon fiber whilst more lightweight at the same time. It also is an excellent moisture and oxygen barrier and can be used in the form of film or coating. This material can easily be extracted from plant waste thus, maintaining producers’ price competitiveness.

2.      Polyvinyl alcohol (PVOH) is a water soluble synthetic polymer. PVOH film is widely used today as a water soluble packaging material and is considered the next step in eco friendly packaging with the potential to capture significant market share. These are used to pack disinfectants, toilet blocks and water treatment chemicals. These save costs and are eco friendly as they can easily be disposed.

3.      Ethylene vinyl alcohol (EVOH) is composed of carbon, oxygen and hydrogen. Films of EVOH are in popular use these days as a packaging material for food. It does not produce any toxic gases when burnt and produces minimal heat in the process. It is used for packaging meat and is known to keep flavors fresh.

4.      Polyethylene furan ate (PEF) is a chemical analogue of Polyethylene terephthalate (PET). This material is eco friendly and is bio based. This material is being widely utilized today and faces a rapidly growing demand.

New mechanical processes are currently under development to enable the use of MFC materials on an industrial scale. MFC producer WEIDMANN Fiber Technology not only produces MFC for engineering applications but also provides its expertise about the material. Dell has used eco friendly bamboo packaging in the past and has also announced its plans to use only eco friendly packaging in future. Tom’s of Maine is experimenting with potato starch packaging material. Puma has and is continuing to make considerable efforts to promote paper packaging.

All the big companies in the world are shifting from non biodegradable plastic packaging to the above mentioned materials not only to improve their reputation but also to attract customers who are now considerably aware about these issues. All these developments will benefit the environment and sustainable packaging is expected to grow as an industry.

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Rapid Growth in China’s Automobile Sector To Boost Automotive Foam Industry-Ken Research


Automotive foams are polymer foams manufactured by combining two phases, gas phase and solid phase to develop foams. This process results in development of foam incorporated with either air bubbles or air tunnels which are either closed cell structure or open cell structure. Foams with open cells are flexible while foams with closed cells are rigid. Chemical or physical gas is used as a blowing agent in the manufacturing of automotive foams. All the polymer foams are produced using various methods such as extrusion, slab-stock and moulding. Polymer foams are used in automotive industry, packaging industry, construction, furniture and other industries. China’s automotive foams market is categorized based on type of material such as Polyurethane, Polyolefin, Styrenic, Polyvinyl chloride, Phenolic, Melamine, starch foams, biodegradable foams and others. Automotive foams are utilized in manufacturing industries such as instrument panels, seating, door panels, headliners, water shields, gaskets, seals, Noise-Vibration and Harshness (NVH) solutions and others. Automotive foams are used in automobiles such as Compact Passenger Cars, Mid-sized Passenger Cars, Premium Passenger Cars, Luxury Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Two-Wheeler.

The major factors driving China’s automotive foams market are low density foam products, weight reduction characteristics and cost effectiveness. Automotive foams are used as optimal insulators with low heat transfer properties, flexibility and softness in automotive foams provide extra comfort to the passengers, growing consumer preference for polymer foams in vehicles and manufacturer’s approval towards automotive foam products in commercial vehicle are the other factors driving the demand for automotive foams in China.

According to the study “China Automotive Foam Industry Situation and Prospects Research report”, China’s automotive foams market faces major market challenges such as waste disposal, flammability, recyclability and adverse effects of blowing agents on the environment which are directly hampering the growth of the market. The leading players in the manufacture of automotive foams are Armacell, BASF SE, Johnson Controls, Woodbridge Foam Corporation, The DOW Chemical Company, Lear Corporation, Bridgestone Corporation, Recticel, Vitafoam, Saint-Gobain and Rogers Corporation.

The increasing consumer’s disposable income and the rising trend of urbanization in China have witnessed a significant growth in automobile industry and automotive foam products. China is the leading consumer of automotive foams across the world due to the rapid growth in the manufacture of heavy commercial vehicle and passenger cars in the automotive industry. An automobile per household has become a necessity and status symbol in the society due to modernization which is driving the automobile market and the automotive foam market. Majority of the polyurethane foams are used for seats in the automobiles due to their excellent features such as ease of installation, minimal weight, fire resistance, thermal resistance, and low cost. It was observed that there is a huge demand for polyurethane foam in China compared to the other variants of foams and polyurethane foam is expected to remain on the top over the next few years.

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Polymer Products to Overtake Balsa Products Due to More Advanced Properties-Ken Research


Balsa is one of the fastest growing lightweight wood species which is native to South America. Majority of the balsa wood used in Asia is commercially harvested from plantations. Due to its fast growth, the wood density is very low, making balsa the lightest commercial timber available. Balsa wood is used in many industrial applications such as aerospace, defense, as renewable energy, marine, rail and road transport facilities. Few major drivers supporting the growth of balsa wood market in Asia are the booming wind turbine industries, growing defense activities, growth in aerospace industry, expanding marine sectors, growing demand of weight saving composite to increase the efficiency of land transport. The other properties of balsa wood are strength, versatility, high impact strength, good sound and thermal insulation, excellent fatigue resistance and a wide operating temperature range which are added advantages compared to other materials.

According to the study “Asia Balsa Wood Industry Situation and Prospects Research report”, balsa wood is used as a core material in structural sandwich panels, in wind turbine blades to boats and aircraft. The wood is spongy in texture which makes it light and soft. Balsa wood is used in making makeshift pens for calligraphy, used in laminates together with glass-reinforced plastic (fiberglass) for making high-quality balsa surfboards, ship decks, building boats such as pleasure crafts. The leading vendor in Asia’s balsa wood industry is Sinokiko Balsa Trading Co (China).
It was observed that there is less demand for balsa wood but will witness a gradual growth over the next few years due to the increasing demand for lightweight and durable wood in marine, aircraft and wind energy categories. Asia balsa wood industry is spread across China, Japan, India, Australia, Korea, Arabia and Rest of Asia. Asia accounts for a largest market share due to the presence of large number of balsa wood processors, cheap labour cost and increasing applications. There is a heavy competition from polymers which are durable and convenient to use, which may restrain the growth of Asia’s balsa wood market in the next few years.

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Japan Corrugated Box Market is expected to reach around JPY 656 billion in 2022: Ken Research


Analysts at Ken Research in their latest publication Japan Corrugated Box Market Outlook to 2022 - By type of box (Slotted, Die-Cut and Others), by End Users (Processed Food, Fruits & Vegetables, Electrical Appliances and Machinery, Pharmaceuticals, Detergents & Cosmetics, Ceramics, Glassware & Sundries, Mail Order, Parcel Delivery & Moving, Other Foods, Textile Products And Others) believe that promoting better regulations, tying up with different E-tail & E-logistics companies and improved marketing strategies followed by companies will aid the corrugated box market. 
Japan corrugated box market is expected to register positive CAGR of around 1.0% during the period 2018-2022 in terms of domestic consumption. Use of corrugated boxes for shelf ready packaging and the emergence of latest technology machines are expected to have positive impact on the overall consumption of corrugated box market.
·        The increase in demand for corrugated packaging for beverages and packaged food will increase therefore increasing corrugated box demand.
·        Increasing demand of light weight packaging is anticipated to have a positive impact on the Japan corrugated box market.
·        Growing processed food industry in Japan will also drive the future of Japan corrugated box industry.
Rising demand of food product packaging and increasing demand for lightweight packaging materials will augment the growth of Japan Corrugated box market. Advances in multicolor, flexo printing will facilitate in-house flexo printing and do away with screen printing; contract printing on offset presses will therefore increase the demand of corrugated boxes. Shelf ready packaging is also increasing as it significantly reduces the workload for unpacking and displaying products. This trend is now popular in supermarkets as the retail market is growing up, the demand for corrugated boxes is also increasing. The use of high productivity inkjet presses such as HP T1100S which is especially designed for volume corrugated print will also drive the future of Japan corrugated box market. In future, OJI Holdings Ltd will improve its market position through offering packaging solutions that leverage on new technologies whilst increasing company’s competitiveness. The company will start targeting home meal replacement packaging and E-commerce packaging.
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Japan Corrugated Box Market Outlook to 2022 : Ken Research


The report titled “Japan Corrugated Box Market Outlook to 2022 - By type of box (Slotted, Die-Cut and Others), by End Users (Processed Food, Fruits & Vegetables, Electrical Appliances and Machinery, Pharmaceuticals, Detergents & Cosmetics, Ceramics, Glassware & Sundries, Mail Order, Parcel Delivery & Moving, Other Foods, Textile Products And Others) provides a comprehensive analysis on the Japan corrugated box Market. The report covers various aspects including introduction and genesis, market size by revenue, segmentation by type of box (Slotted, Die-Cut and Others), by end user (Processed Food, Fruits & Vegetables, Electrical Appliances And Machinery, Pharmaceuticals, Detergents & Cosmetics, Ceramics, Glassware & Sundries, Mail Order, Parcel Delivery & Moving, Other Foods, Textile Products And Others), by type of flute (Single, Double and Triple), By color and Non-Color and by Region (Kanto, Kinki, Chubu, Okinawa and Others). Major players have been profiled in the report including Rengo Co. Ltd, OJI Holding Corporation, Chuoh Pack Industry Co. Ltd., Tomoku Co. Ltd., Kariya Shiki Co., Ltd., Hiradan Corporation, Aichi Corrugated Cardboard Co. Ltd., Itoh Corrugated Industrial Co. Ltd., Ryohei Corrugated Co., Ltd. (Hako Hira Cardboard Kabushikiisha), Taiyo Corporation Ltd., Maruichi Corporations, Misuzu-Shigyou Inc, DAIO Packaging Co. Ltd., Tokai Paper Co. Ltd., Dynapac Corporation and Yamakoh, Co. Ltd., Dainippon Pax Kyoto Corporation). The report also covers Value Chain Analysis, Government regulations, buying decision parameters from end user point of view, Snapshot on Japan Kraft paper, corrugated board market, Export and Import trade scenario, along with analyst recommendation and macroeconomic variables.
This report will help the reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for cardboard manufacturers, corrugated packaging manufacturers, processed food companies, E-commerce companies, investors, potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Japan Corrugated Market Size and Overview
Market Size: Japan corrugated box market is in its late growth stage The Japan corrugated box market is highly correlated with Japanese economy and with the recovery in the economy the demand for corrugated packaging for beverages and packaged food will increase therefore increasing box demand. The domestic consumption of corrugated boxes increased from year 2012 to 2017. The growing processed food industry in Japan is one of the key drivers for corrugated board market. Over the past few years, the introduction of new farm and food technologies coupled with cost-effective international transport has increased the trade of food products.
Market Segmentation:
By End User
In 2017, processed food segment has dominated the Japan corrugated box market. Processed food segment has contributed the highest share in terms of sales volume. Processed food is leading and the growing industry in Japan and the fast paced lifestyle of consumers has led to an increase in consumption of processed food as a replacement of homemade meals. In 2017, fruits & vegetables contribute the second highest share followed by electrical appliances, pharmaceuticals, ceramics, mail order, other foods and textile products. Other end users are disposable diapers, hygiene products for the elderly, pet related products has least share in 2017.
By Type of Box
In 2017, regular slotted type of box has dominated market in terms of sales volume. Regular slotted boxes are most preferred as they are easy to manufacture and moreover, the production is also fast. Die cut type of box has contributed the second highest share in terms of sales volume. Other type of corrugated boxes include full telescope box, partial telescope box, corrugated tray often used for display purposes, corrugated corner pads used for product support and cushioning.
By Type of Flute
In 2017, Single Flute type of box has contributed the highest share in terms of sales volume. These types of boxes are highly preferred as they are ideal for storing groceries and most stores hand out their goods to customers in such boxes instead of common jiffy bags. Double flute boxes has contributed the second highest share followed by triple flute boxes in Japan corrugated box market in 2017.
By Non-Colored and Colored Boxes
In 2017, non-colored box has dominated the market. Non-colored corrugated boxes are preferred by those end users who have to pack and store the products in the warehouse or godown. They are generally manufactured on end user demand and are used for packaging food and beverage items such as noodles, biscuits and others and children related products such as toys, games, soft toys and others.
By Region
In 2017, Kanto region has contributed highest share in terms of sales volume. Kanto region dominated because of better infrastructure development. Kanto region has a number of electrical and metal industries thus increasing the demand of corrugated boxes. Kinki contributed second highest share followed by Chubu and Okinawa in terms of sales volume in Japan corrugated box market in 2017. Other region such as Tohoku, Chugoku, Shikoku and Hokkaido has least share in 2017.
Competitive Landscape
Japan corrugated box market is fragmented with the presence of around 2,000 organized and un-organized players. Majorly, the manufacturing location and distribution channels witness both regional and cross border trade. Capacity expansions and additions to the existing product portfolio to cater to the growing demand are the major strategies adopted by industry participants. Rengo Co. Ltd. is the leading company in Japan corrugated box market with the highest market share followed by Oji Holdings Corporation in terms of production value of corrugated boxes. Other leading companies are Chuoh Pack Industry Co. Ltd., Tomoku Co. Ltd., Kariya Shiki Co., Ltd., Hiradan Corporation, Aichi Corrugated Cardboard Co. Ltd., Ito Corrugated Industrial Ltd., Ryohei Corrugated Co., Ltd., Taiyo Corporation Ltd., Maruichi Corporations, Misuzu-Shigyou Inc., DAIO Packaging Co. Ltd., Tokai Paper Co. Ltd., Yamakoh, Co., Ltd.
Future Outlook to Japan Corrugated Box Market
Japan corrugated industry is expected to increase at a CAGR of single digit in between the 2018 and 2022 in terms of domestic consumption due to the elevating demand from the end user segment in order to store and transport their end products. Rising demand of food product packaging and increasing demand for lightweight packaging materials will augment the growth of Japan Corrugated box market. Shelf ready packaging is also increasing as it significantly reduces the workload for unpacking and displaying products. This trend is now popular in supermarkets and as the retail market is growing up the demand for such type of packaging is also increasing, thereby increasing the need for corrugated boxes.
Corrugated Board Market in Japan
Corrugated board is prepared by gluing one or more fluted sheets of paperboard (corrugating medium) to one or more flat sheets (called facings) of linerboard. Japan ranked third among the production of corrugated cardboard.  There are different types of corrugated board available which includes single face, single wall, double wall and triple wall. In 2016, Kanto region has dominated the market in terms of production of corrugated board in Japan corrugated board market. Kanto region dominated because of better infrastructure development. The region is ground for a number of electrical and metal industries thus increasing the demand of corrugated boards. In 2016, Kinki region contribute the second highest share in terms of production of corrugated board. Automobiles, machinery, electrical equipment, textiles, and processed foods are the most growing industries in Kinki which are therefore growing the demand for the corrugated board in the region. Chubu region contribute the third highest share followed by Okinawa, Tohoku, Chugoku, Shikoku and Hokkaido in Japan corrugated board market in 2016.
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Wednesday, June 20, 2018

Global Water Sports Equipment Market Growth has been Supplemented by Growing Number Of Water Sports Facilities, Rising Popularity Of Water Sports Activities and Increasing Participation Rates: Ken Research

Rising number of water sports enthusiasts, technological up gradation, safer equipments, rising tourism, growing support from the government and tourism sector to promote water sports coupled with innovative water sports equipment offerings by the manufacturers and growing penetration of online retailing in the market have been the key drivers supplementing growth in the review period.
The report titled “Global Water Sports Equipment Market Outlook to 2022 – By Major Water Sports (Surfing, Scuba Diving, Jet Skiing, Snorkeling, Kite boarding, Canoeing and Kayaking, Rafting and Parasailing), By Regions (Americas, Europe, APAC and MEA)”  by Ken Research suggested that rising tourism to various APAC regions of Australia, South Korea and India have surged a positive CAGR in terms of consumer expenditure and hence, would facilitate growth in global water sports equipment market in the next 5 years.
The market includes protective gear, accessories and major sport-specific equipment for any sports activity conducted in water, under water, and on water. The global water sports equipment market has displayed a substantial growth at a CAGR of close to 5% during the period 2012-2017.  The market for water sports equipments is largely dependent upon the demand for the water sports activities among the people. There are numerous micro and macro factors that impact the demand for water sports in the world. Some of the influencing factors include interest of consumers in outdoor recreational activities, accessibility to water sporting equipment and facilities, tourism trends, government restrictions, weather conditions and others. In many countries several initiatives are being undertaken to promote the growth and expansion of water sports facilities. For instance, Europe has been increasingly coming up with initiatives that are aimed at strengthening the water sports industry. One such initiative is the Facilities for the Water Sports Industry (FAWI) project, which aims at improving facilities for the water sports industry. The project is aimed at professionalizing and economically strengthening the water sports industry through sustainable development, upgrades, quality improvements, and cross-border collaborations in the water sports segment. Moreover, it has been observed that the government of countries such as Thailand, Indonesia and others has also seen actively accentuating the promotion of water sports to increase the revenue generated from the tourism industry. This ultimately resulted in a rise in the demand for water sports equipments among the people.
In the recent years, it has been observed that artificial water bodies for kayaking and rafting are gaining increased popularity among water sports enthusiasts. The US National Whitewater Center situated in Charlotte, North Carolina, has the largest artificial river in the world, which is suitable for rafters and kayakers. The Kielder Water in northern Europe is one of the largest man-made lakes in the region, which has become extremely popular among tourists for canoeing and water-skiing. The popularity list also includes the surf parks integrated with artificial wave technology. Currently, there are at least 10-15 such water surf parks, which are scheduled to start operating in the next few years in Russia, Spain and Hawaii. The major objectives of these artificial attractions are the provision of convenience and an easier alternative to the customers. These would also enable the complementary tourist businesses, like restaurants and lodging options, to thrive in the market. For example, the Riverdale Hall in Northumberland, which is the closest hotel to the Kielder Water, cashes in on the various water sporting activities undertaken on the Kielder Water, like sailing, water skiing and ferry trips, among others.
A recent trend visible in the market is the launch of innovative water sports equipment and the same is expected to significantly contribute to the market's growth during the forecast period. To withstand the existing competition, the companies in the market are largely focusing on the introduction of innovative product offerings with respect to design, color, shape and weight, to meet the needs of individual consumers. The manufacturers are thus, launching new lightweight and more advanced equipments to cater to the changing consumer preferences. For instance, the players are focusing on the development of advanced snorkeling fins that have better quality than the regular fins currently available in the market. The companies are choosing high-tech materials that are strong yet lightweight, flexible and resistant to chemicals, for manufacturing the equipments. Moreover, the consumers also prefer to purchase equipments with new and improved features that match their requirements.
Recently, a new technology was introduced in snorkel which is known as Dry Top technology. This technology enables the prevention of water from reaching a snorkeler's mouth and nose. The top of a dry snorkel uses a variety of improved mechanisms like flaps and valves that block the top of the snorkel when it is submerged. This feature reduces the need to frequently clear the snorkel, unlike traditional snorkels, while returning to the water surface.
Furthermore, closed-circuit re-breathers are becoming popular among recreational divers as they enable divers to enhance their scuba diving experience without the noisy open-circuit scuba re-breathers. Most of the diving enthusiasts in the market prefer advanced scuba diving equipments. Apart from this advanced scuba diving equipment, divers also require cutting devices, primary lights, backup lights and underwater cameras. This shows that the market is witnessing a growing demand for such advanced scuba diving equipment. Such advancements in the market are expected to raise the replacement rate of the equipments in the market.
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