Growing Trends in Polyethylene Terephthalate Market Outlook: Ken Research

 The polyethylene terephthalate market effectively consists of sales of polyethylene terephthalate and connected services. It is broadly used in several applications such as automotive, food and beverage packaging, and electronics. The Polyethylene terephthalate is a great gloss, crack-resistant transparent plastic. They are universal resolution thermoplastic polymers introduced by the reaction of monoethylene glycol (MEG) and purified terephthalic acid (PTA) and are well-known for their excellent amalgamation of mechanical, thermal, chemical and dimensional stability.

According to the report analysis, ‘Polyethylene Terephthalate Global Market Report 2020’ states that in the polyethylene terephthalate global market there are several companies which presently functioning more effectively for leading the highest market growth and registering the handsome value of market share around the globe during the short span of time while delivering the better consumer satisfaction, decreasing the linked prices, advancing the applications of such, implementing the profitable strategies, employing the young work force, studying and observing the strategies and policies of the government and competitors, and improving the specifications of the production technologies includes Far Eastern New Century Corporation, Hengli Group Co. Ltd, Indorama Ventures Public Company Limited, JBF Industries Ltd, Jiangsu Sanfangxiang Group, Lotte Chemical Corporation, Octal, Reliance Industries Ltd, Saudi Basic Industries Corporation (SABIC), Sinopec Group and several others.

The worldwide polyethylene terephthalate market was worth USD 43.81 billion in 2019. It is projected to grow at a compound annual growth rate (CAGR) of 11% and reach USD 68.33 billion by 2023.

The effective growth in the demand of polyethylene terephthalate in food and beverages packaging likewise carbonated soft drinks packaging underwritten to the growth of the polyethylene terephthalate market. The growing requirement for bottled drinks and glass and metal ampoule replacements finds no better substitutes to polyethylene terephthalate, owing to its resourcefulness in shape and size. For instance, during 2017, according to 'Plastics Insight', China dominated the worldwide polyethylene terephthalate production and registered for 30.8% of the total production, which was 30.3 million tons and involved bottled drinks segment and films and sheets. China is not only the greatest producer of polyethylene terephthalate but also the greatest consumer of the world. The growing demand in food and beverages packaging industry augmented the demand for polyethylene terephthalate throughout the historic period, propelling the market.

The major corporates are gradually manufacturing bio-based PET utilizing partially recyclable materials. Bio-based PET is light weight, recyclable, biodegradable, and returnable bioplastic material resultant from biomass. It consists of 30% of plant consequential ethanol glycol and 70% of terephthalic acid consequential from fossils. This is also utilized for packaging of soft drinks, alcoholic beverages, food products, cosmetics, pharmaceutical products, and edible oils. The desire to usage environmental friendly products and rigorous regulations have reinvigorated the usage of bio-friendly products in industries and has resulted in the augmented requirement of bio-based PET. For instance, during 2018, according to 'Bioplastics News', PepsiCo joined Danone and Nestle Waters in introducing bio-based polyethylene terephthalate bottles (PET). A demonstration plant with a projected capacity of 18,000 tons of biomass will be built in Ontario (Canada), and will begin by 2020 to introduce 100% bio-based PET bottles.

During March 2018, Plastiche SA, a Belgium-based specialty chemical products corporate, controlled by Roussis family holdings obtained Bamberger Polymers Corp. for an undisclosed amount. The acquisition suggested Plastiche SA in expanding Roussis family holdings in the plastics manufacturing industry, in which they are already included. Bamberger Polymers Corp. is a USA-based plastics manufacturing corporate and concentrates in products such as polyethylene terephthalate. Therefore, in the coming years, it is predicted that the market of polyethylene terephthalate will increase around the globe more effectively over the upcoming duration.

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Global Polyethylene Terephthalate Market

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Ankur Gupta, Head Marketing & Communications

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Speedy Increase Across Polyurethane Global Market Outlook: Ken Research

The polyurethane market significantly consists of the sales of polyurethane and connected services which are utilized in foams as an insulation material, coatings, adhesives and sealants and an elastomer. Polyurethane denotes to form of plastic polymer material which is utilized to introduce modern, versatile and innocuous consumer and industrial products that are conservational friendly. Polyurethane is designed by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a disocyanate or a polymeric isocyanate in the occurrence of suitable catalysts and additives. They are also broadly utilized in medical devices such as pacemakers, artificial hearts, and several other blood contacting applications.

According to the report analysis, ‘Polyurethane Global Market Report 2020’ states that in the polyurethane global market there are several corporates which presently operating more effectively for leading the highest market growth and registering the great value of market share around the globe throughout the upcoming years while spreading the awareness related to the applications of such, delivering the better consumer satisfaction, implementing the profitable strategies, decreasing the linked prices, studying and analyzing the strategies of the competitors and government, and employing the young work force includes The Dow Chemical Company, BASF SE, Covestro, Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals, Inc., DIC Corp, Nippon Polyurethane Industry Corp Ltd., Recticel S.A., Woodbridge Foam Corp and several others.

The worldwide polyurethane market was worth USD 95.13 billion in 2019. It is projecte to augment at a compound annual growth rate (CAGR) of 12% and reach USD 149.91 billion by 2023.The polyurethane market has been geographically classified into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The polyurethane market across Asia Pacific is predicted to register the highest CAGR throughout 2019-2022.

Implementation of the polyurethane in home furnishings is propelling the polyurethane market. Furniture manufacturing corporates are improving comfort, robustness, health and safety by utilizing flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding and carpet motivated. Not only has this, with the establishment of advanced manufacturing procedure, polyurethane form delivers more uniform, expectable and durable end products. For instance, according to the American Chemistry Council, it is confirmed that FPF when compacted by 90% for 22 hours, could recover more than 90% of its innovative height, which is exceedingly durable than any other practice furniture material. Moreover, entirely cured polyurethane products are deliberated to be inert and safe and were concurred by the U.S. EPA (Environmental Protection Agency). The sturdiness, comfort and safety delivered by polyurethane continue to be the foremost reasons for usage in the furniture industry, thereby, propelling the requirement of polyurethane industry going forward.

Throughout November 2018, Covestro, a German-based polymer corporate, accelerated the enlarge of its thermoplastic polyurethanes (TPU) business by increasing its stake in the joint venture DIC Covestro Polymer Ltd. (DCP) from 50% to 80%. Both the parties approved to not disclose any financial details of the transaction. Finishing of the deal is premeditated for early second quarter 2019, subject to the approval from the applicable authorities. The investment is part of Covestro's enlargement of its worldwide TPU business. DIC Covestro Polymer Ltd. is a Japan-based supplier of thermoplastic polyurethanes.

For More Information, refer to below link:-

Global Polyurethane Market

Related Report:-

Global MDI Based Polyurethane Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025

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Global Electric Commercial Vehicles Market Research Report: Ken Research

 Major players in the electric commercial vehicles market are BYD, Proterra, AB Volvo, Daimler AG, Nissan, ABB, Scania AB, Tesla, Nikola Motor Company, and Tata Motors.

The Global Electric Commercial Vehicles Market is expected to decline from USD 48.54 billion in 2019 to USD 40.7 billion in 2020 at a compound annual growth rate (CAGR) of -16.06%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 96.85 billion in 2023 at CAGR of 21.8%.

The electric commercial vehicles market consists of sales of electric commercial vehicles and related services. Electric commercial vehicles are electrically-powered, self-propelled electric vehicles used for transportation that helps reduce greenhouse gas releases (GHG) and pollution, that works with the help of both electric motors working in tandem. Electric commercial vehicles are used for the delivery of goods and for transport, such as passengers, that are powered by batteries and includes buses, trucks, vans and pick-up trucks.

Asia Pacific was the largest market in electric commercial vehicles market in 2019 and is expected to be the fastest growing market in the forecast period.

Electric commercial vehicle companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involves sharing of resources and expertise that enhances the product and multiplies the result. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and is investing EUR100 million (US USD 110 million) in a UK-based electric vehicle startup company 'Arrival' for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics.

The electric commercial vehicles market covered in this report is segmented by propulsion type into BEV; PHEV; FCEV. It is also segmented by vehicle type into electric bus; electric truck; electric pick-up truck; electric van, by battery type into lithium-iron-phosphate (LFP); lithium-nickel-manganese-cobalt oxide (NMC); others and by technology into battery electric commercial vehicles; plug-in hybrids; hybrids; fuel cell electric commercial vehicles.

The growth of the electric commercial vehicle market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery is typically less powerful and has a limited range (60-100 miles per charge) and is considered suitable only for short-distance travel. The limited travel range of batteries of electric vehicles raises concerns among the consumers that their vehicles may run out of charge/power before reaching the destination. Longer charging duration is another major challenge for the market. Lack of availability of supercharging stations adds to the woes associated with the use of batteries in an electric vehicle.

In August 2019, Dana Inc., a USA-based company specialized in manufacturing components and systems for hybrid and electric vehicles such as commercial vehicles, acquired Nordrsea Motors Inc. for an undisclosed amount. The acquisition is expected to help Dana Inc. to enhance its electrification capabilities by integrating its full range of inverters, motors, thermal management products, chargers and gearboxes with Nordresa's battery technology, integration expertise and electrical powertrain controls to provide electrical powertrain systems. Nordrsea Motors Inc. is a Canada-based company that specializes in developing, manufacturing and commercializing electric drivetrains for commercial vehicles.

During the historic period, government subsidies on electric commercial vehicles contributed to the electric commercial vehicles market's growth. For instance, in July 2019, in India, the government of India provided subsidies for promoting electric commercial vehicles. The Minister of State for Heavy Industries and Public Enterprises at the 'India UK Electric Mobility Forum 2019', stated that the government of India, under the INR 10,000 crore FAME scheme, is promoting electric commercial vehicles through commercial fleet owners. The subsidies were given to three and four wheeler electric vehicles for commercial and fleet applications. The support from the government to promote use of commercial electrical vehicles is driving the market

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Global Electric Commercial Vehicles Market

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Vietnam Nutraceutical Market, Vietnam Nutraceutical Industry, Market Revenue: Ken Research

How Nutritional Supplement Market is Positioned in Vietnam?

In 2019, revenues of Vietnam nutraceutical industry including dietary supplements, functional foods and functional beverages collectively, accounted to USD ~ million. The market recorded the growth at a CAGR of ~%, from USD ~ million generated in the year 2014. The rising awareness and knowledge about health and fitness is one of the major drivers for nutraceutical market in Vietnam. The Vietnamese population strongly believes that diet has a major role to play in health aspects. Increase in the purchasing power has also helped the Vietnamese population in spending high amount towards good quality nutritional supplements in order to adopt a healthy living lifestyle. Additionally, increasing number of working women has helped the nutraceutical market in Vietnam in gaining high as they don’t have time to cook meals from scratch and need the nutrient for themselves as well for their family in one meal.

By Dietary Supplements, Functional Foods and Functional Beverages: Functional foods segment dominated the Vietnam nutraceutical market with revenue share of ~% in 2019. The growing health consciousness and self health conscious attitude among Vietnamese population is the major factor responsible behind such high share of the segment in the country. Dietary supplements segment has grown over a CAGR of ~% in the historical period of five years from 2014 to 2019 due to growing awareness among customers about the benefits of nutraceutical which have been spread via word-of-mouth, rising education levels and advertising.

As the local market of Vietnam is increasing in demand for the functional beverages especially energy and sports drinks a lot of foreign players are entering the Vietnam market. Functional Beverage segment dominated the Vietnam nutraceutical market with revenue share of ~% in 2019. The rising number of sports and fitness enthusiasts are expected to boost the market for sports drink.

Vietnam Nutraceutical Market Segmentation

Functional Foods: The functional foods segment is the leading product segment in the Vietnam nutraceutical market with a revenue share of ~% in 2019. The market for functional food has increased as consumers are becoming more aware about the adulterated chemicals and preservatives used in their food products, the consumers are shifting to products made from natural ingredients, containing added nutrients in order to support the hectic and stressful fast paced lifestyle of the consumers. Dairy based products are the leading product category in the functional food market. In this the major demand is for dairy based probiotic yogurts as these products enhance the digestive system by maintaining good gut health. Dairy products are followed by baby food products as the second most contributing category in the market. However, with international brands entering the market the domestic sector is facing fierce competition.

Functional Beverages: The Vietnam Functional Beverage market revenues have been growing over the years as from USD ~ Million in the year 2014 to USD ~ in 2019, thereby displaying a five year CAGR of ~% over the review period 2014-2019. The growing health concerns among the people in the country have resulted in investments by international and domestic players in the market who are launching innovative drinks in the market which are aimed to improve health in the market. There has been an increase in marketing and advertising activities to make consumers more aware about energy drinks, which has increased the revenue for this segment.

There has been a declined the market for the Plant based and Malt based which is second biggest product category for the Vietnam Functional Beverages.

Dietary Supplements: Herbal supplements was the largest revenue contributing product segment with a share of ~% in the Vietnam nutraceutical market in 2019.The market was valued at USD ~ Million in 2014 and reached to a value of USD ~ Million in 2019 and registered a five year CAGR of ~% during the period 2014-2019. The consumers believe that herbal or traditional products have fewer or no side effects in comparison with standard products constituting natural ingredients. The market is currently in growth stage in the Vietnam and expected to develop more in the upcoming years. Ginseng was the most popular herbal dietary supplement used in Vietnam. Omega 3 fatty acid segments are gaining popularity in the country with growing number of patients suffering from cardiac disorders. The highest selling omega 3 fatty acids supplements in Vietnam are fish oil supplements. The segment grew at the highest CAGR of ~% in the estimated period of five years from 2014 to 2019.

Key Segments Covered:-

Dietary Supplements:-

By Type Herbal/Traditional Supplements, Vitamin and Mineral, Probiotics, Protein and Amino Acid Supplements, Omega 3 Fatty Acids, and others)

By Type of Vitamin (Single and Multivitamin)

By Distribution Channel (Chemists/Pharmacies, DirectSelling, Drugstores/parapharmacies, Internet Retailing Hypermarkets, Home shopping, Supermarkets, Vitamins and Dietary Supplements Specialist Retailers)

Functional Foods:-

By Type of Functional Foods (Dairy, Baby Food, Breakfast Cereals, Confectionary, Hi-Fiber Biscuits, Multigrain Bread, Snack Bars and Fruit Snacks)

By Type of Dairy Products (Milk, Flavored Milk, Probiotic Yoghurt, Powdered Milk)

By Type of Baby Food (Growing-Up Milk Formula, Follow-on Milk Formula, Standard Milk Formula)

By Distribution Channel (Hypermarkets, Supermarkets, Convenience Stores and Independent Small Grocers)

Functional Beverages:-

By Product Category (Energy Drinks, Plant Based and Malt Based Hot Drinks, Sports Drink )

By Distribution Channel (Hypermarkets, Independent Small Grocers, Supermarkets, Convenience Stores, Forecourt Retailers, Vending and Other Grocery Retailers).

Key Target Audience:-

Nutritional Supplements Manufacturers

Nutritional Supplements Distributors

Nutraceuticals Distributors

Government Agencies

Vitamins and Dietary Supplements Companies

Functional Foods Companies

Functional Beverages Companies

Hypermarkets and Supermarkets

Drug Stores and Pharmacies Chain

Online Sales and Retailing Agencies

Time Period Captured in the Report:-

Historical Period: 2014- 2019

Forecast Period: 2020F – 2025F

Companies Covered:-

Vitamins and Dietary Supplements:-

Herbalife Nutrition Ltd

Traphaco JSC

Amway

Forever Living Products International LLC

Tiens Vietnam, Herbalife Ltd

Nu Skin

Elken

Eco Pharma Joint Stock Company - Vietnam

Haugiang Pharmarceutical JSC

Mega Lifesciences Pty Ltd (Vietnam)

Davimin

Functional Foods:-

Vietnam Dairy Products

Royal FrieslandCampina NV

Abbott Laboratories Vietnam

Nestle Vietnam

Functional Beverages:-

Suntory PepsiCo Vietnam

For More Information on the research report, refer to below link:-

Vietnam Nutraceutical Market

Related Reports:-

UAE Nutritional Supplements Market Outlook to 2023 - by Vitamins & Dietary Supplements (Protein Supplements, Non-Herbal Dietary Supplements Composites, Fish Oils/Omega Fatty Acids, Glucosamine, Co-Enzyme Q 10, Herbal Dietary Supplements Composites, Yeast, Garlic, Ginko Biloba), Functional Foods (Dairy, Baby Food, Breakfast Cereals, Cooking Oil Confectionary, Sweet Biscuits, Snack Bars and Fruit Snacks) and Functional Beverages (Energy Drink, FF Concentrates, Sports Drink, and Bottled Water)

Singapore Nutraceutical (Vitamin And Dietary Supplements, Functional Food And Beverages) Market Outlook To 2023 - Maturing Market Backed By Demand From Millennials For Multivitamins And Mineral

Indonesia Nutritional Supplements Market Outlook To 2023 - By Vitamins (Single Vitamin And Multi-Vitamin) & Herbal And Standard Dietary Supplements (General Health, Beauty, Digestive, Bone, Heart Health, Memory, Joint), Functional Beverages And Functional Food

Philippines Nutraceuticals Market Outlook to 2022-Composite Herbal Dietary Ingredients, Ginseng, Garlic and Ginkgo Biloba Based Herbal Supplements will Drive the Growth

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Global Smart Watch Market Research Report: Ken Research

 Major players in the smart watch market are Apple Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, Huawei Technologies Co. Ltd., Fossil Group Inc, and Google Inc.

The smart watch market consists of sales of smart watches and related services that are used in medical, sports, gaming, and personal assistance. A smart watch is a computer-based wristwatch that provides many other features besides timekeeping. Examples include monitoring the heart rate, tracking the activity, and delivering day-round reminders.

The Global Smart Watch Market is expected to decline from USD 54.80 billion in 2019 and to USD 52.88 billion in 2020 at a compound annual growth rate (CAGR) of -3.51%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 84.90 billion in 2023 at CAGR of 17.10%.

North America was the largest region in the Smart watch market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.

Internet of things (IoT) driven smart watches is highly preferred choice of smart watches. Smart watches connected to the internet offer a wide range of features such as time, health monitoring, and fitness tracking, receives calls and messages, entertainment, cardless payments, and connectivity to other IoT devices to improve the quality of the user's life. With increasing consumer's interests towards health and fitness, convenience in day to day activities and smart homes, wearable IoT devices such as smart watches offer various features. The global smart watch shipments rise by 42% annually from 10 million units in 2018 to 14.2 million units in 2019.

The smart watch market covered in this report is segmented by product into extension, standalone, classical and by application into personal assistance, wellness, healthcare, sports, others.

The high cost of smartwatches is expected to hamper the growth of the smartwatches market. The accuracy required for designing and development of various devices including sensors, display, and small-sized semiconductor equipment with a core diameter of 10 micro meters along with raw materials requires a high range of expertise and high initial costs. According to the IHS report, smartwatch shipments will hit 101 million units by 2020, up from 3.6 million units in 2014. Therefore, high cost smartwatches are expected to hinder the growth of the smartwatches market.

In November 2019, Alphabet Inc., the parent company of Google, acquired smart watch maker, Fitbit, Inc. for a deal amount of USD 2.1 billion. Alphabet said that the acquisition helps them in the advancement of its smart watch software, Wear OS. Fitbit, Inc. is an American company that makes fitness bands, smart watches, and accessories which helps in tracking footsteps, exercises, heart rate, and weight.

The increasing health awareness among consumers is a key factor driving the growth of the smartwatch market. Through a smartwatch, the user can take the necessary precautions in advance about health. The doctors can easily monitor the health status of patients remotely and can maintain, prescribe or treat them as required. For Example, the new Apple watch series 5 is capable of tracking heart rate, nervous system, emergency or inactivity warnings, and health events. According to the Rock Health 2019 study, the wearable use was around 33% for 2018 and 2019, while, the digital health tracking increased steadily from 38% in 2018 to 42% in 2019. Increasing number of people are using digital tools such as smartwatch to address critical health needs rather than just exercise tracking. Therefore, the increase in health awareness among the consumer is expected to drive the smartwatch market.

For More Information, Click on the Link Below:-

Global Smart Watch Market

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Growth in Automotive Industry Expected to Drive Global Assembly Automation Market: Ken Research

The assembly automation systems are the dedicated system utilizing mechanized and automated devices for producing the goods & performing different functions over an assembly line. The basic function of the automation is to provide automatic functionality by an organized approach of assembling the goods that are partly automated with a human controlling. Therefore, accordingly the automated assembly system performs a series of much automated operations by combining the multiple components over a single unit which that can be used over a final product or the sub assembly. Generally, the automated machinery produces the products that have standard components or the parts that are added over a definite sequence of the events along with the common assembly lines. The automated assembly system forms an important integral part of the process for many of the technical organizations, manufacturing industries, medical research, clinical companies, etc. The key advantages associated to automated assembly are labor savings, consistency of input and output, manufacturing process, better reliability and profitability over higher production rate.

According to study, “Global Assembly Automation Market to reach USD 23.5 billion by 2026” the key companies operating in the global assembly automation market are ABB Ltd., Koops Inc., Rockwell Automation, Inc., Yaskawa Electric Corporation, Kuka, RNA Automation Limited, Hanwha Group, NuTec Tooling Systems, Inc., HIRATA Corporation, Fanuc Corporation, ThyssenKrupp, ATS Automation, Eclipse Automation Inc., Bastian Solutions, Inc., among others. These players are estimated to enhance their market share by expanding their product portfolio and significant research & development (R&D) in smart automation technology.

Based on physical configuration, assembly automation market is segmented as dial-type assembly machine, in-line assembly machine, carousel assembly system, and single-station assembly machine. Based on product type, market is segmented as robot automation equipment, central control system, and other automation equipment. Based on sales channel, market is segmented as direct channel and distribution channel. In addition, based on end-use, market is segmented as medical, industrial manufacturing, automotive, 3C industry and others.

The assembly automation market is driven by rise in demand for fast production capacities of products, followed by increase in usage of assembly automation in various application such as 3C industry, automobile, among others. However, increase in Complexity of Industrial Automation Systems and high initial cost of assembly automation along with lack of skilled workforce may impact the market. Moreover, increase in research & technological advancements in the automation industry and growth in government initiatives to expand the automobile market across the world are key opportunities for market. Furthermore, rise in demand for plant automation in order to attain superior equipment efficiency worldwide is a major trend for market.

Based on geography, the North-American is the significant region in global assembly automation market owing to rise in awareness among the manufacturing companies to augment manufacturing and production output in the region. Whereas, the Asian-Pacific and European are likely to exhibit highest growth rate due to growth in automotive industry and increase in awareness for the advanced product to meet customers requirement over the forecast period. It is projected that the global assembly automation market will be reached at US $23.5 billion by 2026.

For More Information, refer to below link:-

Global Assembly Automation Market

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Ken Research

Ankur Gupta, Head Marketing & Communications

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Growth in Industrialization Expected to Drive Global Above Ground Storage Tank Market: Ken Research

 The storage tanks are the containers that are used for storing the hold cold or hot liquids and compressed gases over the long- or the short-term storage. The storage tanks (AST) are usually the large containers made of metal over the ground and are designed to temporarily hold different liquid or the gas substances. These substances may vary over the range from water to crude oil or over various chemical products. The over the ground storage tanks are used for storing materials such as petroleum, waste matter, water, chemicals, and many other key materials, stored with the strict industry standards & regulations. These storage tanks are further available in various sizes & shapes to be suited as per the requirement over different industries.

According to study, “Global Above Ground Storage Tank Market to reach USD XXX million by 2026” the key companies operating in the global above ground storage tank market are China International Marine Containers Co., Ltd (CIMC), CST Industries Inc., Ishii Iron Works Co, Ltd. PermianLide, McDermott International Inc., Motherwell Bridge Ltd., Toyo Kanetsu K.K, Polymaster, Fox Tank and Highland Tank.

Based on product type, above ground storage tank market is segmented as hazardous for flammable liquids, non-hazardous content and hazardous for other materials. Based on material, market is segmented as concrete, steel, polyethylene and others. In addition, based on end users/applications, market is segmented as agriculture, oil / petroleum, liquid fertilizer, food production, water, asphalt and others.

The above ground storage tank market is driven by growth in oil and gas industry, followed by rise in use of water in the industrial and commercial sector, increase in adoption of storage tanks to improve fuel economy, surge in replacement of aging chemical storage tanks and growth in adoption of poly water tanks. However, inadequate operating & maintenance services and high initial installation costs of storage tanks that are used for storing hazardous products & faulty installation may impact the market. Moreover, rapid technological advancements is a key opportunity for market.

Based on geography, the North-American region holds major share in global above ground storage tank market owing to growth in industrialization and increase in production of shale gas in the region. Whereas, the European and Asian-Pacific regions are anticipated to witness higher growth rate due to increase in population & rise in disposable income and growth in development of manufacturing sectors over the forecast period. The manufacturers in North-American and Asian-Pacific regions are focusing on expanding their operations in the South America and Middle East & Africa, which is also contributing to the growth of this market. In upcoming years, it is estimated that future of the global market will be optimistic as a result of rise in demand for water storage tanks and growth in investment by manufacturers in emerging economies during the forecast period. The global above ground storage tank market is valued at US $3158.5 million in 2020 and is predictable to reach US $3412.8 million by the end of 2026, growing at a CAGR of 1.1% during 2021 to 2026.

For More Information, Click on the Link Below:-

Global Above Ground Storage Tank Market

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Ken Research             

Ankur Gupta, Head Marketing & Communications

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+91-9015378249

Indian Insurance Aggregator Industry expected to be worth $621 Mn by FY’24: Ken Research

 The insurance aggregator industry in India started with the introduction of PolicyBazaar in 2008 and as at 31^st July 2020, there were 23 aggregators operating in the industry. Aggregators have proven to be an alternative distribution channel for insurance policies of motor, health, life, term life and other products; as they allow the customers to compare multiple policies from different insurance providers at the same time. Aggregators also act as a one-point customer representative for all their queries ranging from policy guidance to assisting in claim settlement.

While earning 8-15% commission on sale of different policies is the major revenue stream, aggregators are struggling to achieve their overall profitability with loss margins reaching over 100% for some players in the industry. As at March 2019, the industry was valued at $54.5 Mn, achieving a growth of 91% compared to FY’2018.  PolicyBazaar is the market leader; followed by Coverfox Broking, Easypolicy and others.

Incumbents are leveraging their Omni-channel distribution (majorly through Agents in case of Online Brokers) to increase the traffic on website, leverage customer data and use it for cross-selling loans, investment in mutual funds and credit cards. For instance, PolicyBazaar through its sister company, PaisaBazaar is amplifying the cross-selling opportunities. Similarly, ETInsure is leveraging the established customer base of ETMoney (Loan/Investments platform).

To beat the trade off between customer acquisition cost and average revenue attributable from policy sale, aggregators are focussing on expanding their reach domestically and internationally. For instance, Easypolicy merged with Quickbima to increase its presence in specific districts of Haryana while PolicyBazaar has commenced its operations in UAE and plans to expand to more countries internationally.

While geographical expansion focuses on newer customer acquisition, aggregators must strive to increase the ticket size by creating value proposition for customer, post-sale of policy. Incumbents must strive to create a unified ecosystem within their platform offering location of hospitals, clinics, health wellness tracker, real-time tips for health/wellness improvement; rely on more content based marketing allowing customers to re-visit the platforms and replace employee/agent driven sale via chat-bots.

Industry has also witnessed certain M&A deals and participation of foreign investors in various funding rounds of the players. For instance, PolicyBazaar plans to raise another $150 Mn in Q3 2020 and is eyeing an IPO by 2021; acquisition of MyInsuranceClub by Express Group etc. Ken Research expects the industry size to rise to $672 Mn by FY’2024 owing to shift towards online mediums due to outbreak of COVID-19, increasing awareness among customers to have safety net and investment backed trends.

Time Period Captured in the Report:-

Historical Period – FY’2016 - FY’2019

Forecast Period – FY’2019 – FY’2024E

Companies Covered:-

Policy Bazaar

CoverFox

EasyPolicy

PolicyX

ET Insure

Compare Policy

Key Topics Covered in the Report:-

Snapshot on Insurance Industry in India

Distribution of Insurance in India

Overview of Insurance Web Aggregators

Operating Business Models (Online broking V/s Online Aggregators)

Regulations by IRDA for Web Aggregators

India Web Insurance Aggregators Market Size

India Web Insurance Aggregators Market Segmentation

Competitive Landscape of Major Insurance Web Aggregators

Cross Comparison of Major Players on Key Performance and Operational Indicators

Key Trends and Developments

India Web Insurance Aggregators Future Market Size

India Web Insurance Aggregators Future Market Segmentation

Total Addressable Market for the Players, FY’2019-FY’2024E

Analyst Recommendations for New and Incumbent Players

Interview with Mahavir Chopra, Chief Business Officer at Coverfox Insurance

Interview with Naval Goel, CEO at PolicyX, India

For More Information on the research report, refer to below link:-

India Web Insurance Aggregator Market

Related Report:-

India Online Insurance Outlook to 2019 - Driven by Internet Growth and Web Aggregators Industry

Interview of Naval Goel, Chief Executive Officer at PolicyX.com on insights of the Web Insurance Aggregators Market in India: Ken Research

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Ken Research
Ankur Gupta, Head Marketing & Communications
ankur@kenresearch.com
+91-9015378249

Growth in Landscape of Surface Active Agents Global Market Outlook: Ken Research

 The surface active agents market proficiently comprises of sales of surface active agents and connected services for the utilization in detergents, wetting agents, emulsifiers, foaming agents, and dispersants in order to subordinate the surface tension. Surface active agents are majorly utilized in industries likewise pharmaceutical, oil & gas, food & beverage, agriculture and clothes.

According to the report analysis, ‘Surface Active Agents Global Market Report 2020’ states that in the surface active agents global market there are several corporates which presently operating more significantly for leading the highest market growth and dominating the handsome value of market share around the globe during the inflowing years while spreading the awareness related to the surface active agents, decreasing the linked price, increasing the applications of such, implementing the profitable strategies, studying and analyzing the strategies and policies of the government along competitors, delivering the better consumer satisfaction, employing the young work force and establishing several research and development programs includes BASF SE, Clariant, Akzo Nobel N.V. (The Netherlands), Air Products and Chemicals (U.S.), E. I. DuPont de Nemours & Co (U.S.), Kao Corporation, Stepan Company, Ashland, Evonik Industries AG, Reliance Industries Ltd and several others.

The worldwide surface active agents market was value USD 62.43 billion in 2019. It is projected to grow at a compound annual growth rate (CAGR) of 12% and reach USD 98.28 billion by 2023.

The effective increment in the demand for surface active agents from several end user industries is propelling the market. Surfactants in food industry are utilized as emulsifiers, which are efficient for the formation and stabilization of the food structure. Moreover, there is increasing awareness of vigorous food, which require bio-surfactants with great biodegradability and lower toxicity. According to the research study on resourcefulness of surfactants in food industries during 2018, biocompatible, biodegradable and non-toxic emulsion based formulations of surfactants have high impending for food preparation and dispensation applications. Moreover, around the globe, 50% of food surfactants produced is utilized in bakery products, demonstrating the amount of surface active agents demanded. The increasing demand from end user propels the surface active agents market.

Not only has this, extra concentrated laundry detergents is becoming prominent as it decreases the water consumption. Corporates are improving concentrated detergents which can save as much as 45 million gallons of water per year and also demand less plastic for packaging and create transportation more energy-efficient. For example, Walmart's objective is to cut 25% of the water from every dose of laundry detergent by 2018. For foremost companies manufacturing extra concerted laundry detergents involve Unilever, Procter & Gamble, Henkel AG & Company and Church & Dwight Co., Inc.

Throughout 2018, Stepan corporate, an Illinois based company, accomplished the acquisition of surfactant production capacity from BASF SE for an undisclosed amount. This acquisition will assist Stepan Company's strategy to enlarge in Latin America. BASF SE is a German corporate that specializes in introducing chemicals utilized in broad range of industries. Therefore, in the near years, it is anticipated that the market of surface active agents will increase around the globe more significantly.

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Global Surface Active Agents Market

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Ken Research             

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Growth in Automotive Sectors Expected to Drive Global Automotive Park Brake Lever Market: Ken Research

 Automotive park brake lever is commonly known as automotive handbrake or emergency brake that helps in preventing the vehicle to move once it is being parked. It is one of the mandatory component of the vehicle. It can be of two type’s conventional lever and electronic parking brake (button type). Conventional automotive park brake lever is well established in the global market while electronic automotive park brake lever is a luxury feature that provides more storage space between the front center consoles of the vehicle.

According to study, “Global Automotive Park Brake Lever Market to reach USD XX billion by 2026” the key companies operating in the global automotive park brake lever market are ZF Friedrichshafen AG, AB SKF, Continental AG, Electronic Mobility Controls, Toshiba Electronic Devices & Storage Corporation, KÜSTER Unternehmensgruppe, Brembo S.p.A., AISIN SEIKI Co., Ltd., Allegro MicroSystems, LLC, MANDO-HELLA Electronics Corp., and WABCO. Key manufacturers are strategizing on latest technological innovations for instance brake-by-wire technology that considerably reduces the weight of the car and adoption of self-driving cars with technologically compatible components like electric parking brakes. However, counterfeit of automotive components, faulty electric parking brake lever systems, and long product life cycle of electric parking brake systems are affecting the growth of automotive park brake lever market landscape.

The global automotive park brake lever market is sub-categorized into lever type, functionality type, vehicle type, and sales channel. Based on lever type, market is bifurcated as pull-squeeze pistol-grip hand-lever, pull-twist handgrip lever, push button, pull-press-button hand-lever and pull-press-button hand-lever. Based on functionality, market is bifurcated as electric automotive park brake lever and conventional automotive park brake lever. Based on vehicle type, market is bifurcated as light commercial vehicle, heavy commercial vehicle, compact cars, mid-sized cars, luxury vehicles, SUVs, passenger car, electric vehicle and others. In addition, based on sales channel, market is bifurcated as original equipment manufacturer (OEM) and aftermarket. OEM sales channel segment is likely to depict higher growth rate due to ease of implementation & rise in consumer preference and lower replacement rate of automotive park brake lever (handbrake) during the forecast period.

The automotive park brake lever market is driven by increase in automotive sales and vehicle fleet, followed by rise in consumer demand for premium cars, rise in preference for sophisticated electronic system due to higher per capita income, increase in traction towards electric parking brakes with technological advancement, growth in electric vehicle market and increase in automotive sector. Moreover, growth in technological advancements and rise in safety awareness are key opportunities for market.

Based on geography, the North-American region holds major share in global automotive park brake lever market owing to increase in automotive sectors, higher standard of living,  increase in availability of well-developed infrastructure, rise in demand for luxury & premium class vehicles coupled with presence of key players in the region. Whereas, the Asian-Pacific and European regions are anticipated to exhibit higher growth rate due to stringent norms related to safety over the forecast period. In upcoming years, it is projected that future of the global market because of rise in demand for luxury cars during the forecast period.

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Global Automotive Park Brake Lever Market

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Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249