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Microgrid Monitoring Systems Market to reach an estimated value of US$1.3bn by the end of 2026

The global microgrid monitoring systems market is projected at a staggering CAGR of 17% between 2018 to 2026, finds an upcoming Transparency Market Research (TMR). The market was valued at US$ 300mn in 2017 and it is projected to reach an estimated value of US$1.3bn by the end of 2026.

In terms of product, hardware segment is expected to dominate the global microgrid monitoring systems market and lead to expansion during the projected period. The increasing demand for effective monitoring during real time functioning in the microgrid is expected to be the factor behind the growth of hardware segment.

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Additionally, a microgrid enhances the proper distribution of power supply, conserves energy, and it is a reliable source of energy. These features help in the growth potential of the global microgrid monitoring systems market. microgrid monitoring system market

Smart Sensors Strengthens Microgrid Monitoring Systems Market 

Smart sensors and new technologies make them a viable option to ensure control and energy management to ensure distributed and economical operations of microgrids, leading to the surge in the global microgrid monitoring systems market.

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Equipping microgrids with sensors and connected devices are some of the smart way towards smart microgrids, pushing the global microgrid monitoring systems market to expand in the upcoming years.

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The integration of IoT and distributed control system helps in data acquisition, data uploading, and device control, thus, pushing the surge in the microdgrid monitoring systems market in the near future. On the basis of application, it is campus segment that holds a major share in the market due to availability of technology to mitigate, reduce risk and improve efficiency.

Further, the deployment of sensors and internet of things help in accessing real time data for ongoing and forthcoming microgrid projects, nudging the growth of the global micrtogrid monitoring systems market. Additionally, increase in dependability of renewable source of energy is expected to drive the market towards expansion. Research and development and further innovations are leading to the expansion of the global microgrid monitoring systems market.

Alternatively, there are few factors that may hinder the growth of the global microgrid monitoring systems market. Economic recession and high cost of installation may dampen the growth.

Nonetheless, increasing technological advancement and research and development for viable renewable sources of energy generation is expected to propel the market growth in upcoming years.

Asia Pacific to Boost Growth in Global Microgrid Systems Market 

The Asia Pacific is expected to dominate the global microgrid monitoring systems market in the upcoming years. The growth is attributable to rising demand for electricity generation form other renewable sources, increasing number of microgrid installation projects, rapid urbanization, and industrialization. In Asia Pacific, China is expected to emerge as a lucrative economy in the global microgrid monitoring systems during the forecast period.

Alternatively, North America is also foretold to surge in the global microgrid monitoring systems market. The growth in this region can be due to presence of advanced technologies that can be integrated in microgrids.

Some of the key players operating in the global microgrid monitoring systems market are Eaton Corporation, Siemens AG, Exelon Corporation, S & C Electric Company, Caterpillar Inc., General Electric, ABB Ltd, and Enercom GmbH. The global microgrid monitoring

Systems market faces cut throat competition due to the presence of these prominent players. Each company is adopting various strategies to outperform others and penetrate in to the global market.

This review is based on the findings of a TMR report titled, “Microgrid Monitoring Systems Market (Application – Military, Campus, Community, Island, Remote; Product – Hardware, Software) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”

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Marine Fuel Management Market expanding at a CAGR of 4.4% from 2018 to 2026

Transparency Market Research has published a new market report titled ‘Marine Fuel Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global marine fuel management market was valued at US$ 5,693.8 Mn in 2017 and is projected to reach US$ 6,007.0 Mn by 2026, expanding at a CAGR of 4.4% from 2018 to 2026.

Marine fuel management is an approach to measure, monitor, and report fuel usage of vessels/ships/boats. It helps reduce fuel usage, improve fleet management, reduce emissions, and increase operational efficiency. In terms of value, the marine fuel management market in Asia Pacific and Europe is anticipated to expand significantly during the forecast period.

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Increase in maritime activities and rise in government initiatives for development of marine fuel management systems are estimated to drive the market during the forecast period. Asia Pacific and its strong economies such as China, Singapore, and Australia have been investing substantially in navigation automation, marine fuel management systems, dynamic positioning of vessels, ballast water management, fuel consumption meters, and density and viscosity meters.

The waters around Japan, China, and Singapore witness substantial movement of merchant vessels. In terms of process and application, the others segment is expected to expand at a rapid pace despite the current lows and fluctuations in crude oil prices. In Asia Pacific, ship owners, ship managers and associated solution providers, IT & data associations, and consultants and technology providers are collectively working toward ensuring vessel efficiency, optimization, and management of fuel consumption.

The marine fuel management market is likely to to be driven by low sulfur regulations in Emission Control Areas (ECAs) and rise in demand for achieving greater on-board performance to keep fuel consumption in check. The U.S. in North America controls approximately 80% of merchant vessels. North America has many emission controlled areas (ECA). It also experiences fluctuations in oil and gas prices.

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These factors are likely to restrain the marine fuel management market in the region. With a cut in sulfur limits from 3.5% to 0.5%, many ports in the U.S. and Canada have defined Emission Control Areas (ECAs). Cheap bunker fuel is being replaced by low sulfur fuel. However, with current lows in the oil and gas sector, the shipping industry has been affected. The need for marine fuel management in winters is likely to offer attractive opportunities to the market in the U.S. and Canada.

marine fuel management industry

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The global marine fuel management market can be segmented based on process, application, and region. In terms of process, the market can be classified into measuring, monitoring, reporting, and others. Measuring is a widely used process for marine fuel management. Based on application, the market can be categorized into fuel consumption, efficiency level, fleet management, viscosity control, and others. Increase in global crude oil prices is boosting demand for marine fuel management. Many countries across the globe are investing in shipbuilding activities. This is driving demand for marine fuel management worldwide.

Key players in the marine fuel management market are expected to benefit from the formation of strategic alliances with global players. Prominent players operating in the marine fuel management market include Emerson Electric Co., DNV-GL AS, ABB, Siemens AG, and Bergan Blue.

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Marine Seismic Equipment and Acquisition Market will grow at a steady 4.80% CAGR

Global Marine Seismic Equipment and Acquisition Market: Key Highlights

One of the major influences on global marine seismic equipment and acquisition market is the demand generated by oil and gas industry. The industry is known to use seismic services and analytics for various activities such as exploration.

It is pertinent to note here the various lease rounds carried out for third year in a row – close to 50 in number and record breaking in every sense. Some of the regions which are acting as hotbeds of exploration activity are Latin America, Africa, and the chart is topped by the Mediterranean region.

It is also worth noting here that conventional discoveries are on a high curve, and broke a four-year record in 2019 in terms of BOE – Barrels of Oil Equivalent. The number in 2019 was 12.2 billion barrels BOE. From the new regional hotspots, 26 discoveries (100 BOE) were made.

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As per a Transparency Market Research study, the global marine seismic equipment and acquisition market will grow at a steady 4.80% CAGR (Compound Annual Growth Rate) in the equipment segment in the period starting 2019, and ending 2027. The market set to arise in the period would be worth around USD 626.1 Million by the end of this period. And, over the same period, the market for seismic acquisition will grow at growth rate of 5.60%, compounded annually. Again, this will pull the market worth up from USD 4.2 Billion to USD 6.4 Billion.

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Europe to Lead the Global Marine Seismic Equipment and Acquisition Market over the Forecast Period

The global marine seismic equipment and acquisition market was led by Europe in 2018, dominating both the marine seismic acquisition market and seismic equipment market. The trend is set to continue. And, as per analysts of the global marine seismic equipment and acquisition market, this growth is attributable to rising demand for oil reserves.

It is also pertinent to note that over the coming few years, the North American region will also show notable growth owing to increase in activity in certain industries like construction, mining, and oil and gas.

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Lucrative opportunities will arise in Middle East and Africa, keeping the global marine seismic equipment and acquisition market players hooked to itself over the forecast period. One of the reasons supporting growth in the region will be rising activity in terms of offshore oil exploration activity in the region over the forecast period.

Global Marine Seismic Equipment and Acquisition Market to Witness Pro-active Players over the Forecast Period

The global marine seismic equipment and acquisition market is slightly fragmented and includes prominent players such as Agile Seismic LLC, FailfieldNodal, Seismic Equipment Solution, Geo Marine Survey Systems, Polarcus DMCC, Fugro N.V., SeaBird Exploration PLC, Petroleum Geo-Services (PGS), TGS-NOPEC Geophysical Co. ASA, Mitcham Industries Inc., and Compagnie Generale de Geophysique, S.A (CGG) among others. The players are massively focused on technological development so better and more functional products can be rolled out to lure consumers. As of now, the major technologies in use include ocean bottom nodes, and 2D, 3D, and 4D surveys.

Global Marine Seismic Equipment and Acquisition Market – Key Developments

  • On 2nd March 2020, Shearwater GeoServices Holding announced that the company has entered into a deal with French Oil & Gas player Total to acquire 3D data in the Black Sea, off Bulgaria. The company said that the contract is for the large towed streamer 3D acquisition and Fast Track processing project in the Black Sea by Total E&P Bulgaria B.V. The survey covers 5,500 sq. km in the Han Asparuh block 1-21, and would be using Flexisource triple source together with Fast Track processing enabled by Shearwater’s proprietary Reveal software. The three-month survey is expected to start in first quarter of 2020 and would be carried out by the Oceanic Vega.
  • In February 2020, SeaBird Exploration a844nnounced that the company had received a letter of award for an Ocean Bed Nodes (OBN) source contract with an expected duration of about 5 months in Asia Pacific region. The contract is anticipated to commence in April 2020, while the company plans to employ the Voyager Explorer on this contract due to which the bareboat-charter for the vessel would be extended.
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Butanes Market Revenue worth US$ 156 Bn by 2027

Butanes Market: Key Highlights

According to “Butanes Market – Global Industry Size, Market Share, Trends, Analysis, And Forecasts 2019 – 2027”, a new report published by Transparency Market Research (TMR), the global butane market is estimated to reach US$ 155.7 Billion by the end of 2027, growing from US$ 84.0 Billion back in 2018. The report states that the butanes market will expand at a CAGR of 7.1% in terms of value from 2019 to 2027.

Increasing demand for Liquefied Petroleum Gas (LPG) to Drive Butanes Market Demand

Butanes are primarily used in liquefied petroleum gas (LPG). The demand for butane is directly proportional to the rise in demand for LPG, since two-thirds of the butane produced globally is used in LPG. Presently there are many factors driving the global market for butanes. According to the report, the surging demand for LPG as a domestic fuel in commercial and residential sectors is the major factor attributed to the growth of the global butanes market.

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The market demand for butane is also fueled by the growing ethylene capacity in the Middle East, since butane is also used as petrochemical feedstock required for producing ethylene and other derivatives. However, fluctuations in the volatile crude oil market and growing regulatory issues owing to environmental concerns have appeared as major hindrances limiting the growth of butanes market.

The rising demand for LPG witnessed by Asia Pacific countries such as China, India, and others provide great opportunities for butane producers. They can set up their SBUs in Asia Pacific and capitalize on the market opportunities and increasing demand registered by the region.

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Among the many applications of butanes, LPG accounted for a whopping 66.1% of the butane produced globally in 2018. LPG has also emerged as the fastest growing application for butanes during the forecast period. LPG is primarily used as a heating and cooking fuel in residential and commercial sectors and this segment represents 49% of the overall global demand for LPG. Butanes are also used as blending agents in refineries and feedstock for producing various petrochemicals.

Need for Efficient Waste Disposal to Aid Growth

According to the report published by TMR, Asia Pacific dominates the butanes market, accounting for almost 42% of the global demand in 2018. The region is closely followed by North America, Middle East & North Africa, and Europe region. Moreover, Asia Pacific and the Middle East & North Africa region are anticipated to grow at significant pace during the forecast period.

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Competitive Landscape: Global Butanes Market

Some of the leading players operating in the global butanes market are Exxon Mobil Corporation, Royal Dutch Shell, China Petroleum & Chemical Corporation (Sinopec), British Petroleum Plc, Chevron, Total S.A., Conocophillips, China National Petroleum Corporation (CNPC), Bharat Petroleum Corporation Limited, and Indian Oil Corporation Ltd.

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Biogas Generator Market : Future Growth and Challenges Analyzed

Biogas Generators Installations Bolstered by Growing Investments in Renewable Energy

The market for biogas generators has prospered on the back of relentless industry pursuit for cost-effective generation of renewable energy. Their role for the production of clean energy is stridently growing. Over the years, several new applications of biogas have been evaluated, aside from the use in cooking. The potential of biogas for room heating applications, as vehicle fuels, power generation has led to the continuous evolution of their demands.

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Developed regions most notably European countries have been adopting technologies to optimize the use of biogas. For high-efficiency energy generation system, developed markets have been benefiting from the application of biogas purification process. Technological advances being made by components of system used for biogas generation have been crucial to the biogas generators market growth. Industry players are seeing new demand potential by bringing advancements in biogas production system, especially in digesters. Manufacturers have adopted new design approaches to improve the operation of biogas generators.

The production of biogas has also been propelled by the advent of easily sourced raw materials.  Cut grass clippings can be excellent source. In several developing and developed nations, proliferating numbers of biogas plants has been supported by the shift from fossil-fueled source toward renewable energy.

Stringent Implementation of Regulations to Reduce Carbon Footprint Boost Prospect

Stringent implementation of regulations to reduce the carbon footprint of economies are also helping stoke interest in biogas generation. To this end, biogas is seeing vast prospective demand in farming and industrial processing, all which contributes a sizable proportion to carbon footprint in the way of greenhouse gas emissions.

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The abundance of agricultural waste feedstock in several parts of the world is boosting the market. Other feedstock used are energy crops, municipal waste, sludge, and industrial waste. The biogas generators market has witnessed a significant momentum from the increasing trend of converting biologically waste into fuel which in turn can be used to generate clean energy.

Biogas Generator Market: Introduction

  • The term ‘biogas’ generally refers to a gas produced by the biological breakdown of organic matter in the absence of oxygen. Biogas is produced by anaerobic digestion (AD) or fermentation of biodegradable materials such as dead plant and animal materials, animal dung, kitchen waste, manure, sewage, municipal waste, and green waste.
  • Biogas generators are largely used for organic breakdown of biological waste materials into gases, such as hydrogen and methane, which are further combined with oxygen for application as a fuel

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Key Drivers of Biogas Generator Market:

  • Interest in renewable energy sources is gaining momentum across the world. Biogas production is growing increasingly, as more people are setting up biogas plants. Several governments across the globe have already implemented programs and policies that are designed to support renewable energy, more specifically bioenergy. Additionally, stringent government regulations regarding greenhouse gas emissions and targets set for renewable energy installation are also fueling the market.

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  • Growing importance of use of biogas in municipalities, industrial processing, and farming to meet the energy demand is further expected to augment the global biogas generator market during the forecast period
  • The deployment of organic farming results in neutralizing the emissions of greenhouse gases, which is projected to drive the demand for biogas generators during the forecast period
  • Fluctuating crude oil prices, depleting fossil fuel resources, and supply issues are estimated to fuel the demand for biogas in the near future
  • High costs associated with the installation of biogas plants are likely to hamper the market during the forecast period

Agricultural Waste Feedstock Segment to Witness Attractive Opportunities:

  • The global biogas generator market can be segmented in terms of feedstock, end-use, and region
  • Based on feedstock, the market can be divided into agricultural waste, energy crops, industrial waste, municipal waste, sewage sludge, and others. Agricultural waste is one of the most extensively used feedstocks in the biogas generator market.

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  • In terms of end-use, the global biogas generator market can be classified into residential, commercial, and others

Europe expected to hold a Major Share of Global Biogas Generator Market:

  • Based on region, the global biogas generator market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Europe dominated the global market in 2018. This trend is estimated to continue during the forecast period, owing to various initiatives taken by governments of countries in the region to reduce carbon dioxide emissions. In 2007, the European Union set the ‘20-20-20’ target aimed at 20% reduction in greenhouse gas emissions, increase in the share of renewable sources by 20% to produce energy, and rise in the energy efficiency by 20%. This factor drives the biogas generator market in Europe.
  • Europe had 17,662 biogas plants by the end of 2016, with all 28 EU member countries being active in the field along with Iceland, Norway, Serbia, and Switzerland
  • The market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period. Rapid industrialization and rising importance of power generation through renewable sources in several countries of Asia Pacific are expected to drive the market in the region during the forecast period
  • China, India, Japan, Australia, and Indonesia are major contributors, in terms of revenue, to the biogas generator market in Asia Pacific.
  • North America is expected to contribute significantly to the global biogas generator market during the forecast period. In the U.S., more than 2,000 plants produce biogas across all 50 states. Moreover, more than 10,000 biogas plants are undergoing development in the country.

Key Players Operating in the Market:

The global biogas generator market is highly concentrated, with top manufacturers accounting for approximately 40%–45% share of the market. A few of the key players operating in the global biogas generator market are:

  • Carbotech
  • DGE GmbH
  • DMT Environmental Technology
  • Kohler & Ziegler
  • Prometheus Energy
  • Acrona Systems
  • Envirotech
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TMR Analyzes Impact of Outbreak of COVID-19 on Building Energy Management System Market

Building energy management system (BEMS) is an advanced method to monitor and control the energy requirement of a building. BEMS is a computer-based system which provides monitoring and controlling features for a building’s mechanical and electrical equipment, providing ventilation, power, and lightning systems. BEMS has evolved with an increasing focus on usage of data in commercial buildings powered by technology trends such as Internet of Things (IoT) and cloud networking.

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Building energy management system is a vital component to manage the demand for energy in a large complex or multi- building site. There is a significant difference between BEMS and other control systems as the former provides distinctive features such as communication, information of processes, and other remotely-operated roles which can be controlled through a central point or a single operating unit. Technological developments in the BEMS hardware for sensors and communication highways and computer processing power have rendered BEMS a preferred management system. BEMS not only created rapid developments but has also significantly reduced the cost of management systems.

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Advancement in technology has also amplified the possibilities of usage of BEMS. In addition, it is now possible to monitor multiple buildings at the same time and integrate their tasks. The heating and the cooling requirements among buildings can be combined, resulting in energy saving and management of an individual building to the optimum. BEMS also improves energy efficiency and utilization by restructuring the operation of the equipment which it controls and monitors. Improved energy efficiency leads to increased protection of the environment by reducing the use of resources.

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The growth rate for BEMS installation varies considerably across regions with the dominant contributions coming from the developed nations. At the national, state, and local levels, government policies play an important role in promoting the usage of BEMS; however, the uncertainty in demand has created challenges for the BEMS market. The future of the BEMS market depends on the cost of technology, enactment of supportive measures and economic incentives, investor interest, consumer awareness, certification, and quality assurance.

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The BEMS market is majorly driven by the advancement of technology and innovations in the global and regional market. Price of BEMS varies based on numerous factors such as installation cost, space availability.

Based on application, the BEMS market can be divided into industrial, commercial, and residential. The commercial and industrial segments are expected to remain attractive during the forecast period.

In terms of type, the BEMS market can be classified into software, hardware, and services designed to address specific needs of customers.

Based on region, the BEMS market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to lead the BEMS market during the forecast period, followed by Europe. The dominance of Asia Pacific is primarily due to large number of installations of BEMS in China, Japan, India, and South Asian nations. The BEMS market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in demand for residential and industrial buildings.

Key companies operating in the BEMS market include Honey well international, GE digital Energy, Johnson, Schneider Electric, ABB Ltd., BuildingIQ Inc., Cylon Controls, EnerNoc Inc., eSight Energy, and Siemens.

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Impact of Outbreak of COVID-19 on Antioxidants Market

Antioxidants Market: Introduction

In terms of value, the global antioxidants market is anticipated to expand at a CAGR of 5% from 2019 to 2027. Antioxidants prevent damage to free radical-induced tissues by preventing formation of radicals, promoting their decomposition, or by scavenging them. Damage to cells affected by free radicals plays a central role in the aging process and disease progression. Antioxidants are used as a defense against the free radical damage. The demand for antioxidants in the food & feed industry is increasing rapidly across the globe. This has resulted in extensive usage of numerous types of antioxidants in food & feed production.

Rise in Adoption of Antioxidants for Meat Products

Rise in consumption of meat in various developed and developing countries is a key factor anticipated to propel the demand for natural antioxidants in the global meat industry during the forecast period. Increase in demand for ready-to-eat meat products, owing to their high protein content, is one of the prominent factors driving the global antioxidants market. Furthermore, increase in per capita income in developing countries and rise in demand for frozen meat products, especially among the working population, are estimated to augment the global meat market during the forecast period. This, in turn, is projected to augment the antioxidants market.

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Preference for Natural Antioxidants

Based on product, the global antioxidants market has been bifurcated into natural and synthetic. The natural segment is expected to expand at a CAGR of 5.4% during the forecast period. Natural antioxidants are primarily preferred for disease prevention. These antioxidants are categorized into four types: vitamin A, vitamin C, vitamin E, and rosemary extract. Natural antioxidants contain active compounds, which use antioxidative potential in meat products. The antioxidant action takes place, owing to the presence of synthetic acids, synthetic diterpenes, and flavonoids & volatile oils. Natural antioxidants are primarily distributed in medicinal and food plants.

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Natural antioxidants, particularly carotenoids and polyphenols, exhibit various biological effects, including anti-aging, anti-inflammatory, anticancer, and anti-atherosclerosis. The proper assessment and effective extraction of antioxidants from medicinal and food plants plays an important role in exploring potential antioxidant foundations and promoting applications in pharmaceuticals, functional foods, and food additives.

Rubber & Latex Additives to be Major Application Area of Antioxidants

Based on application, the global antioxidants market has been segregated into food & feed additives, pharmaceutical & personal care products, plastic additives, rubber & latex additives, fuel & lubricant additives, and others (including inks, paints & coatings, adhesives & sealants, metallurgy). The rubber & latex additives segment accounted for more than 30% share of the global antioxidants market in 2018. Antioxidants are chemicals that help protect rubber articles against attack from oxygen. This is a key factor expected to increase the adoption of antioxidants in the rubber & latex industry.

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Asia Pacific to be Lucrative Region of Antioxidants Market

In terms of consumption, Asia Pacific dominated the global antioxidants market in 2018. The market in the region is expected to expand at a rapid pace from 2019 to 2027. Rapid urbanization, rise in consumption of pharmaceutical products, expansion in construction and infrastructure industries, strong economic growth, and growth in meat consumption are major macroeconomic factors that are projected to fuel the demand for antioxidants in the near future.

Increase in consumption of antioxidants in applications in plastic and rubber industries is also estimated to drive the market in Asia Pacific. The rubber & latex additives segment in Asia Pacific, particularly in India and China, is likely to witness moderate growth in consumption of antioxidants in the next few years. In terms of consumption, North America is expected to be a vital region of the global antioxidants market during the forecast period

Competition Landscape

The global antioxidants market was highly fragmented in 2018, with numerous manufacturers operating in the market. SONGWON Industrial Group, BASF SE, Solvay S.A., Clariant AG, ADEKA Corporation, and Evonik Industries AG are the leading companies that accounted for more than 70% share of the market in 2018.

Manufacturers operating in the global antioxidants market include SONGWON Industrial Group, BASF SE, Solvay S.A., Clariant AG, ADEKA Corporation, Evonik Industries AG, 3V Sigma USA Inc., Rianlon Corporation, Everspring Chemical Co., Ltd., SI Group, Inc., Oxiris Chemicals S.A., Dover Chemical Corporation, Double Bond Chemical Ind. Co., Ltd., TAIWAN DYESTUFFS & PIGMENTS CORP., Beijing Tiangang Auxiliary Co., Ltd., Dalian Richfortune Chemicals Co., Ltd., and Chitec Technology Co., Ltd.

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Impact of Outbreak of COVID-19 on Engineered Stone Market

Engineered Stone Market: Introduction

  • Engineered stone is a composite material, which is also known as agglomerated stone. It is made by binding crushed stone with adhesive such as polymeric resin or cement mixture. Polymer concrete, engineered quartz, and engineered marble stone are few of the engineered stones available in the market.

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  • Engineered stone is widely used in kitchen countertops, walls, and flooring applications. Engineered stone is non-porous and is harder as well as flexible than natural stone. They are resistant to bacterial growth and thus help in maintaining a hygienic environment.
  • Engineered stones do not crack due to the presence of polymeric resins such as epoxy, polyester, etc. These polymeric resins prevent cracking of engineered stone under flexural pressure and allow flexibility to the stone.

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Key Drivers of Global Engineered Stone Market

  • Engineered stones are environment-friendly, as 94 % of its content includes crushed waste stone left in quarries or from natural stone beds. Rise in demand for environment-friendly and sustainable building products for various applications such as kitchen worktops, flooring, raised flooring, internal cladding, vanity tops, and bathroom furnishings for residential and commercial construction projects is driving the global engineered stone market.

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  • Increase in awareness about growing pollution is driving contractors as well as construction material manufacturer to utilize as well as produce recyclable engineered stone. This is expected to fuel the global market during the forecast period.
  • Rapid growth of the building & construction industry across the globe is one of the other prime reasons driving the global engineered stone market. Engineered stone can be produced in large sizes and are non-porous in nature. These can be used in wet areas such as washrooms, swimming pools, showers, bath tubs, etc. All these factors are expected to boost the market growth during the forecast period.

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Rise in Demand for Cement Adhesive for Manufacturing of Engineered Stone

  • Bonding agents that are inert and do not produce any form of allergens are driving the demand for cement adhesives for engineered stone. This may provide lucrative opportunities to the manufacturers of engineered stone in the market.
  • Focus on recyclable engineered stone products, such as porcelain sink, liquor bottles, beer bottles, wine bottles, and perfume bottles, etc. with unique aesthetic appeal is anticipated to create several growth opportunities in the global market

Discoloration of Engineered Stone Due to UV Exposure Likely to Hamper Market

  • Engineered stone contain polymeric resins, which are not UV stable leading to discoloration of the stone and breakdown of the resin binder. Continuous exposure to UV rays leads to hardening of binding agents, which results in loss of flexural strength of engineered stone over time. Therefore, these stones are not suitable for outdoor applications.
  • Engineered stones, such as quartz, is less heat-resistant as compared to granite, limestone, and marble. Quartz-based engineered stone can be damaged by sudden temperature change and are more sensitive to both thermal expansion and contraction. All these factors are expected to restrain the global engineered stone market during the forecast period.

Asia Pacific to Hold Leading Share of Global Engineered Stone Market

In terms of region, the global engineered stone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • In terms of consumption, Asia Pacific is a leading region. The engineered stone market in countries, such as China, India, Japan, Malaysia, Thailand, etc., is expected to grow at a significant pace during the forecast period. Rising urbanization, growing construction activities, and changing economic status are some of the prime factors boosting the market in the region.
  • Europe is an established market, in terms of consumption of engineered stone. Italy is a leading supplier of engineered stone in the region. Repairing and renovation activities in Germany, France, and the U.K. are likely to boost the demand for engineered stone during the forecast period. Countries in Rest of Europe, such as Denmark, the Netherlands, Poland, etc., also expected to provide lucrative opportunities to the manufacturers of engineered stone due to rising construction index and growing construction activities in the region.
  • In North America, the U.S. is a leading consumer of engineered stone. Growing emphasis on utilizing recyclable and green construction materials are likely to propel the demand for engineered stone in the region.
  • The market in Latin America and Middle East & Africa is expected to expand at a moderate pace during the forecast period. High import cost and inadequate production infrastructure are anticipated to hamper the market growth in these regions. However, rising construction activities in Brazil, GCC, and South Africa due to increase in expat population is expected to boost the market in Latin America and Middle East & Africa.

Key Players in Global Market

Research & development and capacity expansion are key strategies adopted by top players operating in the global engineered stone market.

Key players operating in the global engineered stone market include:

  • Granite & Marble Specialties
  • St.A. WORLD-WIDE
  • Diresco
  • Viatera USA
  • Quartzforms
  • RMS
  • Santa Margherita Spa
  • Silestone
  • Stone Italiana S.p.A.
  • Tchnistone
  • VICOSTONE
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Lifestyle News

Lactase Enzyme Market Trends by Types and Application, Forecast Analysis to 2030

Global Lactase Enzyme Market: Overview

Numerous factors, trends and drivers, are impacting growth in the global lactase enzyme market. As per Transparency Market Research, the market would grow at a notable rate, compounded annually, over the forecast period of its upcoming report – 2020 to 2003. New opportunities will mark the vendor landscape for players to tap into and consolidate their market position. These avenues, used by players – individually and in collaborations, will lead the market on to a higher valuation over the period.

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https://www.transparencymarketresearch.com/lactase-enzyme-market.html

Some of the most prominent trends and drivers that are marking the lactase enzyme market landscape are growing focus on innovation, improvement in technology and growth in demand in lactose free dairy products. A massive increase in number of people suffering from reduced tolerance to lactose is enabling growth in the market further.

Global Lactase Enzyme Market: Competitive Landscape

A variety of growth measures are marking the vendor landscape of the global lactase enzyme market over the forecast period. Some of these are collaboration with other players in an attempt to tap into new consumer bases, and in turn, consolidating the market position. High focus on technology is set to be witnessed over the forecast period.

The global lactase enzyme market has the following top-tier players, pushing it to higher more significant benchmarks in terms of products and revenue:

  • Chr. Hansen Holding A/S
  • Advanced Enzyme Technologies Limited
  • DuPont de Nemours and Company
  • DSM Chemicals
  • Novozymes A/S
  • Merck KGaA (Sigma-Aldrich)
  • Sternenzym, Amano Enzyme Inc.
  • Calza Clemente
  • Senson
  • Specialty Enzymes & Biotechnologies

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Global Lactase Enzyme Market: Key Trends and Drivers

  • Lactose intolerance is an inability to digest dairy products. The cases of this condition and of reduced tolerance are increasing and this is being notes across the world. It is creating demand for products that need the lactase enzyme, driving the market for the product on a high growth trajectory over the forecast period.

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  • Next generation technologies are leading to growth in the market. As players focus on innovation and come up with better product, worth of the global lactase enzyme market will grow. Some of these technologies are genetic engineering and immobilization. These lead to better productivity and higher stability.

Global Lactase Enzyme Market: Regional Analysis

North America is set to be a notable regional market over the forecast period. Sales will be the highest on the regional charts. Therefore, it does not come as a surprise that the region is set to account for a notable share of the global market over the report’s assessment period. High number of people with lactose intolerance or reduced tolerance and high awareness about it is leading to growth in the regional market. Presence of known player is also a contributing factor. Impressive level of research and development in the areas, particularly in the United States of America, is propelling the growth curve higher.

Read our Case study at :

https://www.transparencymarketresearch.com/casestudies/chemicals-and-materials-case-study

Over the forecast period, Asia Pacific (APAC) region is set to contribute to higher valuation of the global market. Country-wise, in the region, China will be a prominent player, dominating the market landscape in terms of value. Increasing awareness regarding lactose intolerance and availability of lactose free foods and increase in its cases are boosting growth in the regional landscape. Top companies are eyeing this growth and entering into alliances with local players to tap into opportunities – current and emerging.