Breaking News: Elkem Makes Waves with Acquisition of VUM

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Elkem, being a major player in the silicon industry, anticipates that the acquisition will generate an estimated annual increase in turnover of approximately NOK 360 Mn: Ken Research

STORY OUTLINE

• Elkem ASA, headquartered in Oslo, Norway, has acquired VUM, a carbon materials producer based in Slovakia.
• The acquisition aims to enhance Elkem's capabilities in specialty markets and provide greater flexibility in the supply chain.
• Elkem's operations are divided into three business divisions: silicon, silicon products, and Carbon Solutions.
• VUM, now known as Elkem Carbon AS, will operate as a wholly-owned subsidiary of Elkem ASA with its existing management.

Elkem ASA, a Norwegian company with its headquarters in Oslo, has successfully finalized the acquisition of VUM, a carbon materials producer located in Slovakia. This strategic transaction is intended to fortify Elkem's competencies and proficiency in highly profitable specialty markets, while simultaneously enhancing the company's supply chain flexibility.

Future Growth Rate of the Global Silicon Metal Market

• By expanding its capacity through the acquisition, Elkem aims to strengthen its market position within the industry. Elkem's operations are organized into three distinct business divisions, namely silicon, silicon products, and Carbon Solutions. In 2022, Elkem achieved a peak revenue of $1.8 Bn.
• VUM, established in 1954 near Ziar nad Hronom, Slovakia, employs around 65 people. It is an independent producer of carbon materials crucial for industrial smelters, including anode paste, electrode paste, ramming paste, and recarburisers, supporting global metal production.
• Elkem aims to enhance efficiency, value proposition, and economies of scale for VUM by offering resources and industry-leading expertise. As both a producer and consumer of carbon solutions, Elkem leverages its strong position to provide superior technical support and high-quality products, enabling customers to enhance electrode management and optimize their processes.

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• VUM utilizes rotary kilns furnaces for calcining, enabling versatile processing of various raw materials. Additionally, VUM's research and development efforts will contribute to Elkem's carbon competence center in Norway, enriching its expertise. Slovakia relies predominantly on emissions-free electricity generation, primarily through nuclear and hydropower, serving as the country's primary energy sources.

• Following the successful transaction, VUM will undergo a rebranding process and function as Elkem Carbon AS, a fully-owned subsidiary of Elkem ASA. VUM's existing management will continue to oversee operations under the new name.

In conclusion, Elkem's acquisition of VUM, now Elkem Carbon AS, enhances its position in the carbon materials industry and reinforces its capabilities in specialty markets. This strategic move strengthens Elkem's supply chain flexibility and allows for greater efficiency and value proposition. With its expertise, resources, and technical support, Elkem is well-equipped to meet the evolving needs of customers in the global metal production and industrial smelting sectors.

Major Players Mentioned in the Report:

• Dow
• Cree
• Ferro globe
• Rusal
• Elkem
• Wacker
• Hoshine
• EGA
• Liasa
• Minasligas
• Infineon
• Toshiba
• Wanhua Metal

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• Silicon Metal Manufacturers
• Emerging and Startup Companies in Silicon Metal
• Different Types of Silicon Metal Research Labs
• Government Ministries and Departments of Minerals
• Government Departments of Electronics
• Ministries and Departments of Paint & Coatings
• Importers and Distributors of Silicon Metal
• Chemical and Metals Market Research & Consulting Firms
• Semiconductor Research and Development Associations
• Investment Banking & Financial Institutes
• PE and VC Firms focused on Chemicals and Metals Industries
• Research & Development Institutes for Silicon Metal Sector
• Silicon Metal Providers
• Silicon Metal Suppliers
• Investors in Silicon Metal Start-ups
• Environmental Regulatory Bodies
• Silicon Metal Distributors
• Potential Entrants into Silicon Industry

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2028

For more insights on market intelligence, refer to the link below: –

Global Silicon Metal Market

Related Reports by Ken Research: –

Global Silicon Metal Market Size, Segments, Outlook, and Revenue Forecast 2022-2028

How the Indian Government is securing the future of the Agricultural Cold Storage Market in India? : Ken Research

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The agriculture sector in India has had consistent growth in production levels over time. This production level hasn't been matched appropriately in terms of food storage, which highlights the Indian Agricultural Cold Storage Industry's existing whitespace. Despite being an agricultural nation, India experiences significant food losses per year that range from INR 90,000 to INR 100,000 as a result of inadequate post-harvest management and a lack of adequate cold storage infrastructure.

The government has been developing numerous programs and giving grants to help, along with special preference to the states that are behind in terms of infrastructure, in an effort to foster development in the agricultural cold storage industry. Here is an overview of all those crucial steps taken by the government to level up the agricultural cold storage market in India.

1. Indian agricultural sector is growing due to favourable climatic and demographic conditions which is creating demand for cold storage facilities in the country

2. Setting up cold storage facilities could aid in development of food processing, packaging industries, coupled with increase in farmer’s income

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3. Indian Government is actively taking initiatives to establish a robust cold chain infrastructure to enhance the farmers’ income by preventing supply chain losses

4. Multiple schemes are implemented on ground to accelerate investment in the cold storage sector

5. Government is also offering support to Cold Storage Industry via Capital Investment Subsidy Scheme, Agricultural Marketing Infrastructure Scheme and Role of NCDC

6. The establishment of Mega Parks is expected to provide a boost to processing & cold storage services.

7. With support from the government and investors, the Indian Agricultural Cold Storage sector looks attractive in the long run

To Know more about this Whitepaper, Visit this link:-

India Agricultural Cold Storage Industry

3 Key Insights From Global Used Vehicle Industry- The Market Is Projected To Exceed $ 2.5 Trillion By 2027; Says A Report By Ken Research

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Global Used Vehicle Market Ecosystem

The Global Used Vehicle market is moderately fragmented with multiple dealers (both organized and unorganized) operating in the industry. Majority of the used vehicles are sourced from vehicle-rental/ leasing companies & auctions.

Direct buying from consumers or individual sellers is another major source.

1. Is the market for Used Vehicle increasing Globally?

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There is a significant growth in the used vehicle sales during forecast period majorly due to expected increase in hybrid and electric vehicle sales in coming years which is anticipated to grow by 2027. The conventional used vehicles have also maintained its dominance however, its overall growth during 2022- 2027 is slower as compared to electric vehicles. The demand for used vehicle has increased by a major 46% and will further increase in the future.

2. Focusing on Expanding Digital Presence can be a game changer for used vehicle selling companies

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Most consumers these days make used vehicle buying decision after searching online which necessitates synchronizing online and showroom experiences and sharing product information, offering sales support & servicing online. Online platforms can introduce an additional service wherein consumers can go through all the used vehicle auctions taking place around them or that are scheduled for the future. At present, there is not much used vehicle content on Tik-Tok and Snapchat. There is an increase in the sales of used trucks for about 35% more since digital presence of vehicle dealers and it is expected to be around 10% more in the future. These platforms are suitable for targeting new customers and will help to increase business opportunities for used vehicle operators.

3. Is Partnerships and Collaborations the right way to future growth of used vehicle industry?

Brand authorized/direct dealership agents as well as large multi-brand outlets can partner with cab aggregators operating in the country such as Uber etc. The used vehicle industry sees majorly Mergers and Acquisitions done through horizontal business contributing to 40%, followed by 22% by conglomerates. There have been more than 30 successful collaborations in form of Joint Ventures in the used vehicle industry. Dealerships can collaborate with mid-size corporates & companies to offer additional discounts of up to 25% to people within that age bracket of 25-60 years if they buy a vehicle using the company’s referral. This collaboration will enable the dealership in generating higher number of leads through the companies, which can ultimately lead to better conversion rates and boost pre-owned vehicle sales.

For more insights on market intelligence, refer to the link below: –

Global Used Vehicle Market

India Luggage and Bags Market revenue has grown close to INR 20 Th Crores in 2019- Which factors will make the industry more lucrative in future? : Ken Research

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Organized players have increased innovations and continue to launch new variants. They offer lifetime warranties on several products, says a report by Ken Research

1. How GST has changed the landscape of Luggage Manufacturers in India?

Click to Read Full Article: India Luggage and Bags Market

Implementation of GST has boosted organized sales of major players. The impact of GST was majorly seen towards the mass / economy segment where Safari Industries has a major presence. The government was responsive by abolishing three quarters of the items and as of today, luggage and bags are subjected to 18% GST rate under consumer durables category. Volatile sales pattern was observed in the initial months, followed by approximately 30-40% increase in terms of sales revenue post GST implementation. GST has also brought changes in the logistics, billing and need for a centralized warehouse for bulk storage of stock therefore, reducing overhead costs for corporate in the long run.

Impact of GST on various Luxury Goods in India

2. India Luggage Market Segmentation by type of wheel and non-wheel-based luggage, 2019.

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It has been observed that luggage bags with wheels contributed a massive share of 81.6% in the luggage market of India during 2019 as compared to non-wheeled luggage which accounted for 18.4% share. This has been largely due to rise in preference for luggage with wheels which enable easy movement of bags from one place to another.  Wheeled luggage bags are preferred by multiple travelers because of its high durability, flexibility, convenience, and functionality. On the other hand, the contribution of non-wheel luggage bags has declined over the years.

3. Gauging the impact of travel and tourism in India on luggage and bags industry

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It was observed that total number of tourists who visited domestically in all states/UTs of India was evaluated at 1,000 Mn during the year 2013 which expanded to 1,800 Mn in 2018 and is expected to increase in the near future which will tend to enhance the demand for luggage bags among the masses, therefore leading to the overall growth of the luggage market in the country.

Surge in the total number of events and global business meetings have been driving corporate tourism in the country therefore, encouraging Corporate to continuously explore around and spend big over business travel. In addition to that, massive change in the visa policies and increasing availability of direct flights are bridging the gap between countries. Apart from that, the country’s outbound MICE tourism has been growing and is further expected to reach USD 9 Bn by 2025.

The Global Remittance Market is poised to reach $ 1200 Bn owing to rise in mobile-based payment channels and cross-border transactions. : Ken Research

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Global Remittance Market Ecosystem

Global Remittance Market is concentrated among the top 10 players. Prominent players are pursuing various strategies, such as research & development initiatives, product innovations, joint ventures & strategic partnerships, expansion, and mergers & acquisitions to gain a competitive edge in the market. Market players are focusing on leveraging the capabilities of newly emerged fintech companies to offer their consumers the utmost convince of remitting funds. The major companies dominating the Global Remittance market for its products, services, and continuous product developments are Bank of America, Citi Group Inc., Pay Pal, Wells Fargo, JP Morgan Chase among others.

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1. Rise in Cross-Border Transactions and Mobile-Based Payment Channel

30% Growth in cross-border B2B transaction values 2020-22

Rise in cross-border transactions and move toward mobile banking and mobile-based payment solutions dominate payment trends in Asia-Pacific, which is expected to drive the growth of the remittance market. In addition, owing to rise in international commerce, migration and changing economic trends across the globe. In addition, new developments in the world of cross-border payments is the prospect of making real-time international payments a reality. A 30% growth was recorded in cross-border transactions in 2020-22. 

Furthermore, number of banks are striving to deliver timely cross-border remittances and value-added services using a relationship-centric approach, which fuel the growth of the remittance market.

2. “Reduced Remittance Cost and Transfer Time:” Will it sustain in the long run?

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Cross-border payments have become insignificant in cost, quick, auditable, and accessible to everyone owing to the use of digital transfer networks such as mobile phone technology, mobile money, digital currencies, distributed ledgers, electronic identity, and others to send money. The average cost has fallen to 7%. Moreover, the adoption of digital remittance is expected to reduce reliance on cash agents in both sender and receiver nations, which is now contributing to the maintenance of high transaction costs.

The figure shows that the fees for a $200 remittance have come down significantly over time, although they seemed to have stagnated in the last 3 years. The median remittance fee has decreased from 7.7 percent in 2011 to 5.7 percent in 2020. The reduction was also broad across the distribution of remittance fees, with the 75th percentile decreasing from 11.1 percent to 7.7 percent, and the 25th percentile falling from 5.2 percent to 4 percent.

For more insights on market intelligence, refer to the link below: –

Global Remittance Market

Prescription for Success: Global Pharmaceutical Retail market On Track to reach $1 Trillion dollar by 2027: Ken Research

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1.The Asia-Pacific region is Expected to Lead the Pharmacy retail Market in the future

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From Watsons in Singapore to Guoda Drugstores in China to Century Healthcare in Indonesia, Asia’s retail pharmacy market is emerging as one of Asia’s hot healthcare opportunities. Most Asian-Pacific markets still have room to grow. Today, Singapore has the most pharmacy locations per capita -- 1,540 persons for each pharmacy location. The pace of innovation and disruption will further intensify these anticipated market and investment shifts.

 2.E-pharmacies helping to bridge the gap in the Global healthcare system

With increasing internet penetration and smartphone availability, e-commerce has witnessed exponential growth across categories – from apparel to groceries, people have started purchasing most of their requirements via online platforms. As a result of this drastic shift in shopping behavior, e-pharmacies has emerged as a promising sector as they managed to offer the convenience of shopping out of the comfort of homes. In the statistics by the International Telecommunication Union (ITU), the internet penetration rate across the globe peaked at 53% from 17% in-between the years 2005-2019 which is further propelling the e-pharmacies industry, especially after covid-19.

3.With 9,706 stores, CVS Pharmacy (USA), is the largest chemist/pharmacy store chain in the world.

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In the coming years, competition is expected to heat up, particularly from big-box retailers and mail-order and online pharmacies. The top U.S. pharmacy in 2021 by market share based on prescription drug revenue was CVS Health Corporation. It held nearly 25 percent of the prescription drug market revenue. Payors have also steered customers towards mail ordering, such as by covering a 90-day supply of medications delivered to the home rather than the 30-day supply available at a traditional pharmacy. Finally, Internet pharmacies are aggressively pursuing cash-paying customers by offering discounted medications.

4.AI is giving a major boost to the Global pharmacy retail market to reach 1 trillion dollars by 2027.

In recent years, the pharmacy industry has been using AI and Machine Learning for various stages of the pharmaceutical development process.  AI systems can be used to automate tasks that will help in saving time and also the tasks will be performed by using fewer resources. More than 60% of life sciences companies spent over US$20 million on AI initiatives in 2019, and more than half expect investments in AI to increase in 2020, which will have a direct impact in the pharmaceutical companies. In 2018, Sanofi partnered with an AI startup in order to build an AI solution that would automate medical literature reviews, which will help the pharmacy market to study the customer base and medical needs.

Market Taxonomy

By Market Structure

• Organized
• Unorganized

By Type of Pharmacies

• Community Pharmacies
• Discount Pharmacies
• Hospital Pharmacies

By Type of Products       

• Prescribed Drugs
• Over-The-Counter
• Non-Pharmaceutical Products
• Medical Equipment

By Therapeutic Area

• Anti-Infective
• Cardiovascular
• Central Nervous System
• Pain/Analgesics
• Vitamins/Minerals/Nutrients
• Antibiotics
• Respiratory
• Gastro-Intestinal
• Gynecology
• Others

By Drug Type

• Patented Drugs
• Generics

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Target Audience

• Pharmaceutical Manufacturing Companies
• Pharmacy Retail Companies
• Independent Pharmacies
• Industry Associations
• Regulatory Bodies
• Telemedicine Companies
• Pharmaceutical Distributors & Wholesalers

Time Period Captured in the Report

• Historical Period: 2017-2022
• Base Period: 2022
• Forecast Period: 2022-2027

Major Players Mentioned in the Report 

• Ahold Delhaize
• Albertsons Companies Inc.
• Cipla
• CVS Pharmacy
• GlaxoSmithKline
• Loblaw
• Merck KGaA
• Novo Nordisk
• Rite Aid
• Sanofi
• Walgreens Boots Alliance

For More Insights On Market Intelligence, Refer to the Link Below: –

Global Pharmacy Retail Market

Related Reports by Ken Research: –

Australia Pharmacy Retail Market Outlook to 2025

Indonesia Pharmacy Retail Market Outlook to 2025 

Vietnam Pharmacy Retail Market Outlook to 2025

Brazil Pharmaceuticals Market is expected to register growth at CAGR of 8% by 2025- Which factors will help the industry attain its futuristic growth? : Ken Research

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Brazil’s overall health expenditure is expected to grow in future, supported by increased investments in the country’s universal and public healthcare system, says a report by Ken Research

1. Trends in Brazil Pharmaceuticals Market- Growing Number of Mergers and Acquisitions.

M&A in Brazil Pharmaceuticals Industry Market

The growing population of Brazil and increase in demand for generic and other medicines has led major players in the industry to expand their production capabilities. In order to capture the market potential, the industry has witnessed various mergers and acquisitions over the last few years. The companies largely focus on acquiring smaller companies or brands in order to expand their product portfolio or add a new business segment. Pressure has been rising to meet the regulations on manufacturing, research and development of medicines. In addition, the profit margins of the international pharmaceutical companies have been under threat by powerful domestic generic companies.

2. Currency Depreciation was a major challenge faced by the Brazil pharmaceuticals market

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The local currency of Brazil has been depreciating over the years. In 2018, the exchange rate with respect to US dollars was recorded to be BRL 3.6 and Brazil on the other hand relies heavily on the imports of raw materials for the manufacturing of medicine from countries such as Unites States of America, Germany and many other countries.

The domestic currency (BRL) depreciation resulted in high costs on imports of raw materials and it led to a downfall in the production outputs of generic and patented drugs in the country.

3. Growing ministry of health budget- The government is taking measures to support Brazil’s pharmaceutical industry

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Budget allocation of Ministry of Health is growing over the years in Brazil. Of the total Ministry of Health’s annual budget approximately 89% is effectively utilized as planned by the ministry. Budget execution of Pharmaceuticals Assistance on the other hand was comparatively lower and accounted for approximately 72% of the total pharmaceutical’s assistance budget. This has directly impacted the patients in the country who were dependent on the SUS for access to therapies these patients need.

Urban Boom in the Philippines Fuels Home Finance Market as Over 55% of Population Embraces City Life in 2022. Will Philippines continue to support Home Finance Market in future? : Ken Research

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1. Rapid Urbanization creating a demand for housing and a drive the need for home finance options.

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With a rising population and increased movement from rural to urban regions, the Philippines is rapidly urbanizing. Housing demand and the necessity for home financing solutions are both fueled by urbanization. As more individuals look for homes in metropolitan areas, the market grows and offers a range of home loan options to suit varied income levels and preferences.

Of the 109.03 Mn people living in the Philippines as of 2020, 58.93 Mn, or 54.0%, resided in urban barangays. Compared to 2015, when there were 50 Mn urban dwellers, this implies a growth of 7.20 Mn people. The remaining 50.10 Mn people, or 46.0% of the total population, were classed as rural in 2020, or those who resided in barangays that were considered rural.

Explore and access the knowledge that will drive your success in the dynamic and promising of Philippines home finance market.

2. BALAI BERDE and EDGE: Scaling Up Green Housing in the Philippines

Green building rating systems such as IFC’s EDGE add a lot of value to residential projects on their own. However, when coupled with financial products and incentives, they present a more attractive proposition for both developers and homebuyers, promoting unprecedented growth and scale for homes that contribute to climate change mitigation.

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We’ve seen how Arthaland, as the first nonbank issuer of green bonds in the Philippines, is using the $60 Mn green bond proceeds to fund the development of their entire portfolio of EDGE-certified residential and commercial projects using EDGE as criteria, through green construction finance and green mortgages.

Then there is the secondary mortgage market, which can also be made more sustainable through green mortgage-backed securities (green MBS).

Interest in the market is growing for this partnership, with over 90,000 sqm of floor space and 3,000 housing units registered for EDGE certification in the Philippines, even before the BALAI BERDE launch.

For more insights on market intelligence, refer to the link below: –

Philippines Home Finance Market

The Global Lubricants Market is poised to grow at a robust rate reaching $18 Bn by 2026. Will it sustain? : Ken Research

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Global Lubricants Market Ecosystem

Global Lubricants Market is concentrated among the top 10 players. The top companies have been utilizing competitive strategies and investments to retain and expand their shares. The players are competing on the basis of Geographies covered, brand awareness, retention rate & price of the product. The major companies dominating the Global Lubricants market for its products, services, and continuous product developments are Exxon Mobil Corporation, Chevron Corporation, BP p.l.c., Shell plc, and Total Energies among others.

1.“High expectations from industrial sector:” Will it be leading the market growth in upcoming years?

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With the rising cost of powering industrial activities, the industrial sector is making effort to cut down energy consumption & energy costs. Engine parts that are not properly lubricated are more prone to friction & ultimately damage which means that they use more fuel, resulting in more pollution. The global industrial lubricants market recorded demand generation of 15,017 kilotons in 2015 and is projected to rise to 19,477.6 kilotons by 2024. A good grade product helps reduce damage by reducing friction & enhancing machine efficiency. Rapid industrialisation is expected to propel growth in upcoming years.

2.“Synthetic lubricants becoming a priority:” The growing demand for synthetic lubricants, especially in Europe, is anticipated to aid global market growth.

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The global demand for synthetic lubricants has been on rise & has picked up pace due to rising awareness about alternatives for mineral oil lubricants. Moreover, synthetic varieties have grown in popularity due to their better efficiency than natural mineral oil. They have largely begun to replace natural mineral oil as the preferred choice in various sectors that demand high consistency levels. Moreover, the segment is anticipated to register a robust growth in the upcoming years, especially in Europe wherein stringent regulations on CO2 emissions have been placed, thereby serving as a catalyst for the market. Moreover, increasing investment in blending plants for synthetic lubricants in Russia & Netherlands is also driving the market in Europe. USA is another region wherein the demand for synthetic lubricants is at an all-time high.

Market Taxonomy

By Type of Application

• Industrial
• Automotive
• Others

By Type of Lubricant (Industrial Lubricant)

• Engine Oil
• Turbine Oil
• Hydraulic Oil
• Compressor Oil
• Transformer Oil
• Greases
• Industrial gear Oil
• Metal Working Fluids
• Others

By Grade (Industrial Oil)

• Mineral Oil
• Semi-synthetic Oil
• Synthetic Oil

By Type of End Use (Industrial)

• Power Generation
• Construction & Mining
• Transportation
• Metal production
• General Manufacturing
• Food Industry
• Commercial
• Others

By End-use of Lubricant (Automotive)

• Commercial Vehicle
• Passenger Car
• Motor Cycle
• Marine
• Others (Aviation, Railway)

By Type (Automotive)

• Passenger car Motor Oil
• Heavy Duty Diesel Engine Oil
• Hydraulic Oil
• Gear Oil
• Greases

By Grade (Automotive)

• Mineral Oil
• Synthetic Oil
• Semi-Synthetic Oil

By Geography

• Asia Pacific
• Europe
• Latin America
• Africa
• Middle East
• North America

Key Target Audience

• Lubricants Manufacturers
• Lubricants Distributors
• Base-oil Companies
• Additive Companies
• Refining Companies
• Construction and Mining Industry
• General Manufacturing Industry
• Metal Production Industry
• Power Generation Industry
• Food Processing Industry
• Agriculture Industry
• Medical Industry
• Automotive OEMs

Time Period Captured in the Report:

• Historical Period:2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

Key Players Covered 

• Petromin
• Castrol
• Exxon Mobil
• Chevron
• Fuchs
• Petronas
• Saudi Aramco
• Valvoline
• Royal Dutch Shell Plc
• Total Group
• ENEOS Corporation
• AMALIE Oil
• BP Plc
• PetroChina Company Ltd.

For More Insights On Market Intelligence, Refer to the Link Below: –

Global Lubricants Market

Related Reports by Ken Research: –

UK Lubricant Market Outlook to 2027

Nigeria Lubricants Market Outlook 2027F

Mexico Lubricants Market Outlook to 2027F

5 Key Factors to Consider for Achieving Product-Market Fit: Ken Research

 Creating a great product is not enough if there is no one willing to pay for it. That’s why achieving product-market fit is a big deal in business. But how do you determine if your product is the need of your customer? In this article, we will take you through the five crucial steps that will help you achieve product-market fit with ease. But before we start, let’s first understand what product-market fit is.

Define Product Market Fit

In other words, when an entrepreneur identifies a specific need within the market and creates a solution that effectively caters to customer preferences and desires, a product-market fit is achieved.

How do you consider product-market fit before launching the product?

Many business owners spend a lot of money and time in building a product without understanding the product-market fit. As a result, most of the businesses fail because the product does not match the requirements of the customers. So, to escape the failure from your business journey, focus on these 5 parameters that will enable you to understand if your product is ready to make a buzz in the market. Let’s dive in.

1. Find out Customer Needs and Pain Points:

Understanding the needs and pain points of the target customers is important for creating a product that effectively solves their problems. Conducting comprehensive market research, surveys, and interviews offers valuable insights into customer desires.

2. Focus on Competitive Analysis:

Analyzing competitors enables the identification of market gaps and the differentiation of products. Thoroughly studying competitors' offerings, pricing strategies, and customer feedback helps you gain a competitive advantage.

3. Work on Target Market Segmentation:

Segmenting the target market based on demographics, psychographics, and behavior facilitates tailoring the product to specific customer groups. Focusing on distinct segments allows your business to address its unique needs and preferences effectively.

4. Define Your Value Proposition:

A clear and compelling value proposition communicates the unique benefits customers gain from a product compared to alternatives. Defining what sets the product apart and effectively communicating it to potential customers is crucial.

5. Iterative Feedback and Testing:

Gathering continuous customer feedback and iterating on the product is a great way for achieving product-market fit. Early adopters and beta testers provide valuable insights to refine the product and align it with market demands.

Find the right fit for your product-market fit process

Building product-market fit requires a deep understanding of target customers, comprehensive competitive analysis, effective market segmentation, a compelling value proposition, and a commitment to iterative improvement based on customer feedback.
Doesn't it seem like a challenging task? Don't worry; at Ken Research, we excel in helping our clients determine product-market fit without any hassle. With a proven track record of assisting numerous players, we have successfully delivered remarkable business impact. You can rely on our expertise to guide you through the process of identifying the perfect product-market fit for your business.

Book a FREE DISCOVERY CALL with Ken Consultants today!