sustainability – Page 2 – Market Industry Forecast News

Surging Demand for Industrial Refrigeration Systems Drives Market Growth Across Industries

The global industrial refrigeration systems market size is anticipated to reach USD 27.66 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report published by Grand View Research, Inc. The demand for industrial refrigeration is increasing due to the fast-moving consumer goods and retail food which needs efficient storage for perishable edible items. Governments are taking initiatives to support and strengthen the cold chain infrastructure and shifting towards eco-friendly refrigeration systems.

Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower energy consumption, and less toxic materials.

Access the Industrial Refrigeration Systems Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research

For instance, DanFoss, a prominent manufacturer of industrial refrigeration systems, introduced Cool selector 2 to help them design and optimize their air conditioning and refrigeration systems. System designers, engineers, and consultants can use the software to make optimum use of energy and HVACR systems. The benefits of using CO2 refrigeration systems are recognized worldwide as CO2 has a GWP (Global Warming Potential) of 1. The new update allows you to calculate components from the standpoint of an application for transcritical high-pressure side systems.

With the advancements in technology, industrial refrigeration systems have shown enhancement in their processes. Innovations have led to the manufacturing of smart and intelligent devices that monitor, set temperature, and notify the person as and when needed. The incorporation of Artificial Intelligence (AI) in the systems became a breakthrough in the market by enhancing productivity and lowering the operational cost for the organizations.

The industry growth in Asia Pacific is anticipated to observe the fastest growth during the forecast period. This expansion is attributed to the rapid growth prospects of cold-chain storage infrastructure in the countries such as Japan, India, and China. For instance, India is the second-largest fruit and vegetable producer, worldwide. The cold storage and handling the refrigeration of this huge vegetable and fruit produce is a challenging job thus fueling the market growth.

Order Your Sample Copy of the Industrial Refrigeration Systems Market Size, Share & Trends Analysis Report By Component (Compressors, Condensers, Evaporators, Controls, Others), By Capacity, By Refrigerant, By Application, By Region, And Segment Forecasts, 2024 – 2030

Industrial Refrigeration Systems Market Report Highlights

The compressor segment is the largest growing component in the refrigeration system as they are used in commercial as well as industrial refrigeration, heat pumps, and air conditioning applications

Food and beverage applications accounted for the largest market share due to the growing disposable income and the rising population. It has augmented the demand for frozen and processed food products

The 500-1000kW capacity segment led the industrial refrigeration systems market as they helped extend the shelf life and reduce product wastage

Asia Pacific is the highest-growing region in the market due to the maximum number of fruits and vegetable producers and also a requirement for cold-chain storage

Recent Developments

In November 2023, DAIKIN Industries Ltd. introduced a fully electric and plug-in hybrid transport refrigeration product range aimed at reducing emissions from internal combustion engines.

In June 2023, Johnson Controls acquired M&M Carnot, a provider of natural refrigeration solutions with ultra-low global warming potential (GWP). This acquisition is projected to support Johnson Controls’ move to help customers meet sustainability goals. The acquisition also strengthened the portfolio of Johnson Controls, which meets environmental regulations.

In March 2023, Emerson launched the new Vilter-branded trans-critical CO2 compressor. According to the company, this compressor is designed for handling high-pressure industrial CO2 refrigeration.

In February 2023, Danfoss announced the construction of a compressor and sensor manufacturing facility in Apodaca, Mexico. This expansion strategy was aimed at meeting the demand for cooling technology from the U.S.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Increasing Demand for Sustainable Construction Propels the Waterproofing Membranes Market

The growing demand from the waste and water management sector has given a boost to the waterproofing membrane market in the recent few years. Waterproofing membranes are crucial components in construction, designed to protect buildings from water ingress and ensure structural integrity. As urbanization continues to drive demand for durable and sustainable infrastructure, the waterproofing membrane industry is expected to witness significant growth.

The global waterproofing membrane market size was pegged at USD 24.54 billion in 2023. This is expected to cross USD 40 billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030. In recent years, the market has seen a shift toward advanced materials such as modified bitumen, EPDM (ethylene propylene diene terpolymer), PVC (polyvinyl chloride), TPO (thermoplastic polyolefin), and others. These materials offer superior durability, flexibility, and resistance to environmental factors, thereby expanding their application scope across roofing, walls, tunnels, and basements.

Access the Waterproofing Membranes Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research

Technological Innovations and Product Developments

Advancements in technology have played a pivotal role in the evolution of waterproofing membranes. Manufacturers are focusing on developing membranes that are easier to install and offer enhanced resistance to chemicals and UV radiation. For instance, self-adhesive membranes have gained popularity due to their convenience and efficiency in application.

Additionally, the integration of nanotechnology in membrane formulations is opening new avenues for improved performance characteristics, such as self-healing properties and increased tensile strength. These innovations are not only addressing traditional challenges but also paving the way for sustainable solutions in the construction industry.

Future Outlook

The waterproofing membrane market presents lucrative opportunities for stakeholders across the construction value chain. By leveraging technological innovations, expanding product portfolios, and adapting to evolving regulatory landscapes, companies can position themselves for sustained growth and success in this dynamic market.

The future of the waterproofing membrane market looks promising, driven by a combination of technological advancements, evolving regulatory landscapes, and increasing emphasis on sustainability in construction practices. Let us have a look at some of the key factors shaping the market’s outlook:

Technological Advancements: Technological innovations continue to redefine the capabilities of waterproofing membranes. Manufacturers are investing in research and development to enhance product performance, durability, and ease of installation. Self-healing membranes, nanotechnology-infused materials for enhanced strength and flexibility, and smart membranes that can monitor structural integrity in real-time are some of the cutting-edge developments expected to gain prominence.

Order Your Sample Copy of the Waterproofing Membranes Market Size, Share & Trends Analysis Report By Product ((Liquid Applied), Sheet (PVC, EPDM)), By Application (Roofing, Building), By Raw Material, By Construction, And Segment Forecasts, 2024 – 2030

Sustainability Initiatives: Sustainability is becoming a critical driver in the construction industry, influencing material choices and building practices. Waterproofing membranes play a crucial role in achieving energy efficiency, reducing carbon footprint, and improving indoor environmental quality. As regulations tighten globally to promote sustainable building practices, there is a growing demand for eco-friendly membranes made from recyclable materials.

Urbanization and Infrastructure Development: Rapid urbanization, particularly in emerging economies of Asia-Pacific, Latin America, and Africa, is expected to fuel significant growth in the waterproofing membrane market. Infrastructure projects such as roads, bridges, tunnels, and residential complexes require robust waterproofing solutions to ensure longevity and structural integrity. Investments in smart cities and sustainable urban development initiatives are also expected to create new opportunities for innovative waterproofing technologies.

Integration with Digital Technologies: The integration of digital technologies such as Building Information Modeling (BIM), the Internet of Things, and Artificial Intelligence is transforming the construction industry. Waterproofing membranes equipped with smart sensors and data analytics capabilities can provide real-time insights into building performance, maintenance needs, and predictive maintenance, thereby enhancing operational efficiency and lifecycle management.

To summarize, the future of the waterproofing membrane market is characterized by innovation, sustainability, and resilience. As stakeholders embrace advanced technologies, adhere to stringent regulatory standards, and respond to the growing demand for eco-friendly solutions, the market is poised for sustained growth and evolution. By aligning with these trends and leveraging opportunities in emerging markets, companies can navigate challenges and capitalize on the expanding scope of waterproofing solutions in global construction projects.

BASF SE, GAF Materials Corporation, Paul Bauder GmbH & Co. KG, Kemper System America, Inc., CICO Technologies Ltd., GAF Materials Corporation, Alchimica Building Chemicals, Fosroc Ltd., Maris Polymers, Bayer MaterialScience AG, and Isomat S.A. are some of the key companies in the global waterproofing membrane market.

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About Grand View Research

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

LED Lighting Market Poised for Substantial Growth Amidst Rising Demand for Sustainable Lighting Options

With its energy efficiency, durability, and versatility, LED lighting systems has caused a huge expansion of the LED lighting market in the past few years. LED lighting has emerged as a frontrunner, revolutionizing the way people illuminate surroundings. It has swiftly gained prominence across residential, commercial, and industrial sectors, reshaping the global lighting industry.

LED lighting technology converts electricity into light using semiconductor materials. Unlike traditional incandescent or fluorescent bulbs, LEDs emit light in a specific direction, reducing energy wastage and enhancing efficiency. This fundamental principle forms the cornerstone of LED lighting’s widespread adoption and success.

Access the LED Lighting Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research

Driving Forces

The global LED lighting market had a size value of USD 81.48 billion in 2023. This is expected to reach USD 169 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030. There are several driving factors behind the growth of the market. LED lights provide an energy-efficient option. LED lights consume significantly less energy than traditional lighting sources, making them an attractive option for consumers and businesses seeking to reduce electricity bills and minimize environmental impact. With the rising level of construction, the adoption of LED has also risen multifold as the governments are promoting them due to their energy efficiency.

With an impressive lifespan, LED lights outlast conventional bulbs by a wide margin, resulting in reduced maintenance costs and fewer replacements. Moreover, LED lighting emits lower levels of greenhouse gases and contains no hazardous materials such as mercury, aligning with global sustainability initiatives and regulations.

Ongoing advancements in LED technology, including improvements in luminous efficacy, color rendering, and smart lighting capabilities, continue to expand the application scope and appeal of LED lighting solutions. While LED lighting initially carried a higher upfront cost compared to traditional alternatives, economies of scale and technological advancements have driven prices down, making LED lighting increasingly accessible to consumers across various income brackets.

Diverse Applications of LEDs

LED bulbs and fixtures are widely adopted in homes for general lighting, accent lighting, and outdoor illumination, offering homeowners energy savings, aesthetic appeal, and enhanced functionality. From offices and retail spaces to hotels and restaurants, LED lighting solutions are favored for their ability to create inviting atmospheres, optimize workspace functionality, and reduce operational costs.

In industrial settings such as warehouses, factories, and manufacturing facilities, LED lighting’s durability, efficiency, and low maintenance requirements make it the preferred choice for enhancing productivity and safety. LED technology also enables dynamic and customizable outdoor lighting designs, illuminating landmarks, bridges, facades, and landscapes with precision and energy efficiency.

Order Your Sample Copy of the LED Lighting Market Size, Share & Trends Analysis Report By Product (Lamps, Luminaires), By Application, By Installation Type, By Sales Channel, By End-use, By Region, And Segment Forecasts, 2024 – 2030

Market Trends & Future Outlook

The LED lighting market exhibits robust growth across regions, with Asia Pacific emerging as a key hub due to manufacturing prowess and increasing investments in infrastructure and urban development. North America and Europe follow closely, driven by stringent energy efficiency regulations and growing consumer awareness of environmental sustainability.

As the industry continues to mature, future developments are poised to focus on enhancing connectivity, automation, and sustainability. Smart lighting systems powered by IoT technology will enable remote monitoring, energy management, and personalized lighting experiences, further revolutionizing how we illuminate our surroundings.

Connectivity and IoT Integration: The integration of LED lighting with IoT technology will enable the creation of smart lighting systems that offer unprecedented levels of control, customization, and energy efficiency. These systems will allow users to adjust lighting settings remotely via smartphones or voice commands, optimizing comfort, productivity, and energy savings.

IoT-enabled LED lighting solutions will also gather and analyze data on occupancy patterns, environmental conditions, and energy consumption, providing valuable insights for building management and optimization. This data-driven approach will facilitate predictive maintenance, adaptive lighting schemes, and resource allocation strategies, further enhancing operational efficiency and cost savings.

Sustainable Innovations: With a growing emphasis on sustainability and resource conservation, future developments in LED lighting will focus on circular economy principles, including product design for disassembly, remanufacturing, and material recycling. Manufacturers can explore eco-friendly materials, such as biodegradable polymers and recycled components, to minimize environmental impact throughout the product lifecycle.

Recently, the German government revised its energy plan by shutting down 3 nuclear

power reactors and is rapidly phasing out nuclear-power energy production. The shutdown is expected to result in gaps in energy production. The developments

in the nuclear energy policy are expected to accelerate the demand for renewable energy sources and energy-efficient lighting solutions. Lighting vendors can contribute to the demand for energy-efficient lights by developing more efficient lighting technologies and developing new LED lighting solutions.

Advancements in energy harvesting technologies, such as kinetic energy harvesting and solar-powered lighting, will enable the development of self-sustaining LED lighting solutions. These innovations will enhance off-grid lighting capabilities, particularly in remote or rural areas with limited access to electricity, promoting social equity and economic development.

Human-centric Lighting: Human-centric lighting solutions are expected to prioritize creating dynamic lighting environments that mimic natural daylight patterns, fostering better sleep quality, mood regulation, and cognitive function. These advancements would have profound implications for various settings, including healthcare facilities, educational institutions, and workplace environments, where lighting plays a critical role in enhancing wellness and productivity.

Collaborative Ecosystems: Future developments in the LED lighting market will involve collaboration across diverse industries, including technology, architecture, healthcare, and urban planning. Cross-disciplinary partnerships will drive innovation, foster knowledge exchange, and address complex challenges related to sustainability, urbanization, and human well-being.

To conclude, the future of the LED lighting market is characterized by connectivity, sustainability, human-centricity, and collaboration. By embracing emerging technologies, adopting circular economy practices, and prioritizing user-centric design principles, the LED lighting industry is poised to illuminate a brighter, more sustainable future for generations to come.

Acuity Brands, Inc., Cree Lighting USA LLC, Dialight, Halonix Technologies Private Limited, Siteco GmbH, Syska, YEELIGHT, Zumtobel Group Ag, LSI Industries Inc., Nanoleaf, Panasonic Corporation, SAVANT TECHNOLOGIES LLC, Seoul Semiconductor Co., Ltd., and Signify Holding are some of the leading companies in the LED lighting market.

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About Grand View Research

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Electric Vehicle Market Segmentation: Passenger Cars, Commercial Vehicles, and Beyond

Rise and Rise of Electric Vehicles

Growing awareness about climate change and the need for sustainable practices have led consumers to seek eco-friendly alternatives, prompting electric vehicle market players to boost their portfolios. Consumers are increasingly interested in reducing their reliance on fossil fuels, which has boosted demand for EVs. Governments worldwide are implementing strict emission standards and promoting cleaner transportation. These policies encourage the adoption of EVs by providing incentives, tax breaks, and subsidies.

With countries committing to reduce their carbon footprints, the automotive industry is shifting toward sustainable alternatives like electric vehicles. With improving battery technology, EVs are becoming more powerful and efficient, making them an attractive choice for consumers. In addition, the environmental benefits of reduced greenhouse gas emissions and air pollution are contributing to the appeal of EVs.

The worldwide market for electric vehicle (EV) was valued at approximately USD 646.72 billion in 2023. It is projected to expand at a CAGR of 14.5% over the period from 2023 to 2030, as reported by Grand View Research.

Access the Electric Vehicle Market Size, Share & Trends Analysis Report 2023-2030, published by Grand View Research

Types of Electric Vehicle (EV) (Differentiated on Technologies)

In the evolving landscape of sustainable transportation, three types of electric vehicles stand out for their unique benefits. Battery Electric Vehicles (BEVs) are popular for their zero-emission performance, offering a silent and smooth ride with the added perk of lower maintenance due to their simpler design. Fuel Cell Electric Vehicles (FCEVs) are equally notable for their clean operation, emitting nothing but water vapor, while also diminishing the reliance on oil through the use of hydrogen as a fuel source; they boast the added advantage of rapid refueling times. Plug-in Hybrid Electric Vehicles (PHEVs) provide a versatile solution, running emission-free on short electric drives and seamlessly transitioning to gasoline for extended range, thus eliminating the worry of running out of charge. Collectively, these vehicles are driving the future of mobility towards an eco-friendlier horizon, each with its own set of advantages that cater to the varying needs of consumers seeking greener transportation options.

Autonomous EVs

Electric vehicles are at the forefront of autonomous driving development. Advanced driver-assistance systems (ADAS) find seamless integration into electric platforms. The inherent architecture of EVs facilitates sensor placement and efficient data processing for autonomous features. Autonomous EVs are driven by a complex network of sensors, cameras, radar systems, and advanced AI-based algorithms, which help them navigate and make real-time decisions on the road without any direct human intervention.

Order Your Sample Copy of the Electric Vehicle Market Size, Share & Trends Analysis Report By Product (BEV, PHEV, FCEV), By Application (Passenger Cars, Commercial Vehicles), By Region, And Segment Forecasts, 2023 – 2030

Battery Efficiency/Technology Used in EVs

Battery efficiency remains a top priority for EV manufacturers. Researchers are pushing the boundaries of energy density, cycle life, and safety. While lithium-ion batteries continue to dominate the market, there’s growing interest in solid-state batteries, which promise higher energy density and faster charging capabilities. The availability of high-power chargers (such as 350 kW) is reducing charging times significantly. Ultra-fast charging technologies, often coupled with 800-volt systems, enhance convenience for EV owners, making long trips more feasible.

In addition, weight reduction is critical for extending the EV range. Manufacturers are turning to materials like carbon fiber composites and advanced aluminum alloys to achieve this goal. Researchers continue to explore novel materials for battery casings, thermal management, and other structural components.

Investment Opportunities

Global EV sales are concentrated in China, Europe, and the United States, accounting for nearly 95% of all electric car registrations. In these regions, electric cars hold a significant share of the local car markets. Emerging markets like India, Thailand, and Indonesia have shown promising growth, tripling their electric car sales in 2023.

Electric car sales have been on a robust trajectory. Factors driving this growth include competition among manufacturers, falling battery and car prices, and ongoing policy support. Collaborations between traditional original equipment manufacturers (OEMs), new-entrant OEMs, captive finance companies, and dealerships will be crucial in the coming years. Companies are securing direct deals with battery manufacturers and investing in critical mineral mining to meet EV demand.

Some of the key players in the EV market are Tesla, BYD Company Ltd, and Toyota Motor Corporation, among others. Tesla recently introduced the 2024 Model 3 Performance, an upgraded version of the previously launched Model 3 sedan. Beyond cosmetic enhancements for a sportier look, this electric vehicle (EV) boasts mechanical improvements that enhance its performance. Notably, the new model features a more aerodynamic design compared to its predecessor.

In Conclusion

In summary, the electric vehicle market is poised for continued growth, with EVs inching closer to becoming a mass-market product across diverse regions. As technology advances, affordability improves, and supportive policies persist, the EV revolution is set to reshape the automotive industry worldwide.

Strategic Insights into Corn Starch Procurement: Market Overview and Trends

Corn Starch Category Overview

This corn starch category is anticipated to grow at a CAGR of 6.60% from 2023 to 2030. North America is the leading market in this category primarily because of its large consumption of processed and convenient food products which is driven by a growing population and higher disposable incomes. In the Asia-Pacific region, rapid economic expansion and changing consumer lifestyles contribute to the fastest CAGR with China leading the market and India showing the highest growth rate in this category.

The category’s growth is driven by its utilization as a thickening agent in the food industry, usage in garments, cosmetics, and pharmaceuticals, and the increasing demand for bioplastics. It finds extensive adoption in the paper, textiles, and adhesives industries and demand for clean-label starch in the food sector.

Order your copy of the Corn Starch Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

This category is highly fragmented with the presence of both global and regional players. Key players in the market employ strategies like acquisitions and new product development to consolidate their positions and optimize their offerings, with a strong emphasis on expanding manufacturing capacity and diversifying product lines. This enables them to meet growing market demand while simultaneously expanding their global presence.

In May 2022, ADM a leading company in starch manufacturing has strategically invested in expanding its facility in Marshall, MN aiming to meet the increasing demand for starch products and solidify its market position. This move enables ADM to better serve its customers and enhance its competitive advantage in the starch industry.

DFE Pharma, a leading provider of excipients for the pharmaceutical and nutraceutical industries, bolstered its nutraceutical portfolio in January 2022 with the introduction of three new starch-based excipients. The newly launched products include Nutroféli ST100, which is a native maize starch, Nutroféli ST200, a partially pre-gelatinized maize starch, and Nutroféli ST300, a fully gelatinized maize starch. This strategic product expansion enables DFE Pharma to offer a wider range of starch-based excipients to its customers, enhancing its competitiveness and addressing the evolving needs of the nutraceutical industry.

The emergence of biodegradable corn starch plastic granules is a promising technological advancement providing a sustainable and renewable alternative to non-degradable plastics. These innovative granules derived from this category offer similar properties to traditional plastics while being environmentally degradable. Furthermore, new technology has been introduced for the extraction of this category which has revolutionized the production process. By leveraging advanced enzymatic methods, this cutting-edge technology enhances efficiency and sustainability which in turn results in increased productivity and reduced energy consumption. As a result, this category production landscape is set to undergo a transformative change propelled by this technological breakthrough.

Request for Sample Copy of the Corn Starch Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Corn Starch Procurement Intelligence Report scope

The Corn Starch category is expected to have pricing growth outlook of 2% – 4% (annual) from 2023 to 2030, with below pricing models.

Cost-based or Market-based Pricing
Dynamic Pricing
Contract Pricing

Supplier Selection Scope

Cost and pricing
Past engagements
Productivity
Geographical presence

Supplier selection criteria

Quality Assurance
Supply Capacity and Reliability
Traceability and Transparency
Cost Competitiveness
Financial Stability

Medical Writing Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

Market Intelligence along with emerging technology and regulatory landscape
Market estimates and forecasts from 2023 to 2030
Growth opportunities, trends, and driver analysis
Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
Porter’s 5 forces
Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
Engagement and operating models, KPI, and SLA elements
LCC/BCC analysis and negotiation strategies
Peer benchmarking and product analysis
Market report in PDF, Excel, and PPT and online dashboard versions

Corn Starch Procurement Cost and Supplier Intelligence

The price and cost of this category are influenced by supply, demand, production costs, competition, and customer preferences. The primary cost driver is raw materials with corn and enzymes contributing to over 70% of overall costs. Other significant cost components include corn handling, storage, steeping, germ separation, fiber separation, gluten separation, and starch washing. Approximately 55% of the total corn mass is converted into corn starch, emphasizing the importance of raw material expenses and production steps in determining the cost structure.

While sourcing for this category, it is crucial to adhere to the best practices like ensuring quality, sustainability, and compliance with food rules and regulations. Key practices include thorough supplier verification, traceability, compliance with food regulations, sustainability considerations, quality control, and fostering continuous improvement. Businesses should verify supplier certifications, such as ISO 22000 or HACCP, and prioritize transparency and traceability. Compliance with reputable regulatory bodies like the FDA or EFSA is essential. Sustainability should be promoted through responsible sourcing and environmental practices. Open communication with suppliers facilitates collaboration and continuous enhancement of sourcing practices. These practices considering food rules and regulations ensure high-quality, safe, and sustainability for this category.

Key companies profiled:

Roquette Frères S.A, Archer Daniels Midland Company (ADM), Cargill Inc., Hodgson Mill, Associated British Foods plc, Beteiligungs AG, Tate & Lyle PLC, Ingredion Incorporated, ACH Food Companies, Global Bio-Chem Technology Group.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

Market Intelligence involving – market size and forecast, growth factors, and driving trends
Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Unlocking Growth Opportunities in Pressure Vessels Procurement: Insights for 2023-2030

Pressure Vessels Category Overview

The global pressure vessels category is anticipated to grow at a CAGR of 3.8% from 2023 to 2030. Growth of the category can be attributed to rising industrialization, growing energy demand, rising adoption of supercritical power generation technologies, rise of chemical & petrochemical sectors, and stringent government regulations & policies for safely transfer of gases and chemicals. The product offered in the category witnesses significant application in chemical & petrochemical sector.Pressure vessels are required for a variety of processing operations in the sector, such as chemical storage, mixing, distillation, and chemical reactions.The demand for novel, tailored compounds that fulfil certain needs and provide improved functionality is what is causing this change. However, high cost involved in the manufacturing and maintenance of pressure vessels as it requires specialized design & engineering would hinder the growth of the global category.

Order your copy of the Pressure Vessels Procurement Intelligence Report, 2023 – 2030 , published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Key technologies that are transforming the manufacturing of pressure vessels include artificial intelligence (AI), 3D printing, robotics & automation, industry internet of things (IIoT), and augmented reality (AR). AI’s ability to evaluate enormous volumes of data in real-time is one of the most important advantages for manufacturing.AI algorithms can swiftly process and analyze data to detect patterns and trends, assisting manufacturers in understanding how production processes are operating. This is made possible by Industrial Internet of Things (IIoT) devices and sensors that gather data from machines, equipment, and production lines. 3D printing (also known as additive manufacturing), on the other hand, has altered the way businesses design, prototype, and produce goods. It enables manufacturers to cut production time & costs and developcomplicated geometries in a single step. In addition, it also enables manufacturers in producing spare parts as needed, which lowers the requirement for big inventories and boosts supply chain effectiveness.

Pressure Vessels Procurement Intelligence Report Scope

The Pressure Vessels category is expected to have pricing growth outlook of 5% – 10% (annual) from 2023 to 2030, with below pricing models.

Cost-plus pricing
Fixed pricing

Supplier Selection Scope

Cost and pricing
Past engagements
Productivity
Geographical presence

Supplier Selection Criteria

Geographic Service Provision
Years In Service
Certifications
Type Of Product (Boiler / Separator / Reactor / Others)
Application (Storage Vessel / Processing Vessel / Others)
Product Heat Source (Fired / Unfired)
Pressure Handling Capability
Technical Support
Regulatory Compliance
Others

Pressure Vessels Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

Market Intelligence along with emerging technology and regulatory landscape
Market estimates and forecasts from 2023 to 2030
Growth opportunities, trends, and driver analysis
Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
Porter’s 5 forces
Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
Engagement and operating models, KPI, and SLA elements
LCC/BCC analysis and negotiation strategies
Peer benchmarking and product analysis
Market report in PDF, Excel, and PPT and online dashboard versions

Request for Sample Copy of the Pressure Vessels Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Pressure Vessels Procurement Cost and Supplier Intelligence

The category for pressure vessels exhibits a fragmented landscape, with the presence of large number of global and regional small-scale and large-scale market players. Players in the industry are making significant investments in research & developments to enhance their product portfolio which will support the growth of global category. In addition, they are adopting a wide range of strategic initiatives to increase their market share, such as introduction of new products, mergers and acquisitions, contract-based agreements, and joint ventures. Furthermore, in order to reduce operational expenses and benefit their client, the players are opting the strategy of manufacturing locally. The category possesses low threat of new entrants as manufacturing pressure vessels require significant initial investments, team of skilled workforce, and constant pressure of increased raw material prices as the raw materials are commodities which are typically volatile to market conditions.

Cost of raw materials (steel, aluminium, nickel, titanium, etc.), labor costs, energy costs, and transportation costs are the key components of this category. Prices of raw materials, particularly steel or aluminium directly impacts the price of pressure vessels since the prices of these commodities are volatile and keeps on fluctuating, thus influencing the cost of production. In addition, besides the price of raw materials, the cost of production also gets affected by factors such as location of the manufacturing facility, quality control measures, regulatory compliance, design complexity, and size. To arrive at a cost estimate that complies with project specifications and safety regulations, manufacturers and project planners carefully weigh these elements and collaborate closely with skilled engineers and fabricators. The price for smaller vessels range between USD 9,500 – USD 39,500, whereas the price for larger vessels range between USD 99,500 – USD 999,500.

Asia-Pacific region dominates the global pressure vessels category, holding over 37.1% of global market share. The region is witnessing significant growth owing to the substantial investments being made by the business enterprises and the governments in refining and power sector which makes high demand for product offered in the category. In addition, nations such as India and China have several upcoming and ongoing projects that require the usage of industry products. For instance, the growth rate for the demand of power in India is anticipated to be doubled in the next 4 – 5 years. Closing the gap between the region’s consumption and demand for energy is the driving force behind these projects. Assessing if a supplier can offer the vessel made by the required material to meet the end-use application, evaluating if the design of the vessel offered by a specific supplier can withstand rigorous usage, reviewing the documents to ensure that the product adheres to the quality standards set be certification authorities, and comparing the prices offered by multiple suppliers are some of the best sourcing practices considered in this category.

Key Companies Profiled

Äager GmbH, Alfa Laval Corporate AB, ANDRITZ AG, Babcock & Wilcox Enterprises, Inc., Doosan Enerbility Co., Ltd., Frames Group B.V., GEA Group AG, General Electric Company, Hitachi Zosen Corporation, IHI Plant Services Corporation, Larsen & Toubro Limited, and Samuel, Son & Co., Ltd.

Brief about Pipeline by Grand View Research:

Our services include (not limited to):

Market Intelligence involving – market size and forecast, growth factors, and driving trends
Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Driving Innovation in the Industrial Gases Sector: Trends and Outlook 2023-2030

Industrial Gases Industry | Forecast 2030

The economic value generated by the industrial gas market was estimated at approximately USD 99.9 billion in 2022. This economic output is an amalgamation of industrial gas products including nitrogen, hydrogen, carbon dioxide, oxygen, argon, and acetylene.

Global industrial gases market’s growth is driven by increasing consumption of industrial gases in a wide range of end-use industries such as steel, cement, water treatment, automotive, food & beverages, plastics and rubbers, medical, and others. Increasing industrialization in the growing economies of the world is expected to the driving force behind the growing consumption of industrial gases.

Access the Global Industrial Gases Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Several initiatives have taken place for the development of the market in 2021 and 2022, which is anticipated to further escalate the growth in the forthcoming years. For instance, in October 2022, American oil & gas giant Air Liquide has announced to build three industrial gas production plants to serve large semiconductor manufacturers across the globe. For this, Air Liquide entered into a joint venture with Far Eastern Group and is estimated to invest over USD 530 million in this development strategy, according to Francois Abrial, member of Air Liquide executive committee of Asia Pacific. This is a triggering factor for the growth of industrial gases market.

Nitrogen Gas Market Growth & Trends

The global nitrogen gas market size is expected to reach USD 69.7 billion by 2030, expanding at a CAGR of 7.1% from 2023 to 2030, according to a new study by Grand View Research, Inc. Nitrogen gas has high demand in the manufacturing sector for applications such as laser cutting, metal fabrication, and food packaging. It provides an inert atmosphere that prevents oxidation and maintains the quality of the manufactured products.

The manufacturing industry relies heavily on the market for a diverse range of applications. One of its primary uses is laser cutting, a popular method for precision cutting of metals and other materials. It is commonly used as an assist in laser cutting processes. It helps to cool the cut and remove debris, resulting in cleaner and more precise cuts. Additionally, nitrogen gas provides an inert atmosphere that prevents oxidation during the cutting process, reducing the risk of discoloration or corrosion on the cut surfaces.

Order your copy of Free Sample of “Industrial Gases Industry Data Book – Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Argon and Acetylene Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Acetylene Gas Market Growth & Trends

The global acetylene gas market is expected to reach USD 5.4 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2023 to 2030. The growth of the welding market, which is driving the demand for acetylene gas as a fuel gas for welding.

The welding market has been experiencing significant growth in recent years, which has contributed to the increased demand for products as a fuel gas for welding. Welding is a process that involves joining two or more pieces of metal by heating the surfaces to their melting points, causing them to fuse together. Acetylene gas, when mixed with oxygen, produces a flame that can reach temperatures high enough to melt most metals, making it an ideal fuel gas for welding.

The growth of the welding market can be attributed to several factors, including the increasing demand for metal fabrication in various industries such as construction, automotive, and aerospace. Welding is also used in the repair and maintenance of metal structures and equipment, which is becoming increasingly important as companies seek to extend the lifespan of their assets.

Go through the table of content of Industrial Gases Industry Data Book to get a better understanding of the Coverage & Scope of the study

Argon Gas Market Growth & Trends

The global argon gas market is expected to reach USD 17.21 billion by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2023 to 2030. Argon is often substituted by helium in various sectors; however, rising helium prices are projected to boost product demand in several applications. Expanding automobile sector is also anticipated to increase product demand as steel is one of the main components of this sector.

The solar energy market requires huge volumes of argon for manufacturing processes. Burgeoning energy markets are also expected to drive the product demand, owing to applications in the solar and insulated windows market. Argon and krypton gases are used for insulating windows to cover the space between glass panes to prevent cold air from coming inside the rooms. This factor is further projected to drive the market over the forecast period.

Growing lighting demand owing to the increasing number of malls, and shopping complexes are expected to drive product demand over the forecast period. Argon is a versatile gas and is used for various welding applications such as welding special alloys and the production of light bulbs and lasers. It can also provide oxygen and a nitrogen-free environment for various heating processes which is expected to drive the market over the forecast period.

Competitive Insights

The global industrial gas market is highly competitive due to presence of a large number of well small scale and large-scale manufacturers and suppliers of industrial gases. The small-scale companies majorly focus on stable pricing, regular supply, and product quality to serve the best to its clients. Whereas the large-scale companies regularly invest time and money on research and development activities for innovation and new product development related to industrial gases. Large-scale companies also focus on building a strong supply chain for the seamless distribution of industrial gases to their customers.

Global as well as regional players are striving to strengthen their sales channels to maintain a stable supply of industrial gas products to its consumers. The growing usage of industrial gases from a wide range of industries is also creating a competitive environment for industrial gas producers. Large players cater to the maximum share of the industrial gas market, while small players are also focusing on innovation and better product and service quality to capture a greater market share.

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Trends and Forecasts for the Plastics Industry: 2023-2030

Plastics Industry | Forecast 2030

The economic value generated by the industry was estimated at approximately 307,966.7 kilotons in 2021. This economic output is an amalgamation of businesses that are involved in the manufacturing of plastics & their additives, distribution & supply, and application of plastics.

The value chain of the market consists of raw material suppliers, intermediate additives and filler producers, plastic manufacturers, and distributors/suppliers along with industrial end users. They are extensively used in various end-use industries such as construction, automotive, and electrical & electronics, packaging, medical devices, agriculture, furniture & bedding, consumer goods, utility, and others.

Access the Global Plastics Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Increasing demand for plastic polymers across the globe from industries such as automotive, electrical & electronics, textile, food & beverage, packaging, consumer goods, and various others, has propelled the competitive environment in the market. Companies are opting for strategies such as the introduction of new products, investment in research & development, and expansion of production capacities.

Plastic Resin Market Growth & Trends

The global plastic resin market size is expected to reach USD 1.07 trillion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a 4.5% CAGR over the forecast period. The increasing consumption of plastic resins in construction, automotive, electrical, and electronics applications is boosting the market growth. Government intervention to reduce overall vehicle weight to improve fuel efficiency and reduce carbon emissions has prompted automakers to use resins to replace steel and aluminum in automotive components.

Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Agency (EPA), as well as EU initiatives to develop plastics applications for light-weight and fuel-efficient cars, are expected to fuel global growth and promote the market. However, the ongoing health crisis and the lockdown imposed by various governments to contain the spread of the coronavirus pandemic have led to a decline in the consumption of plastic resins. It is expected to further negatively impact the market growth in the years to come.

Order your copy of the Free Sample of “Plastics Industry Data Book – Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

Plastic Additives Market Growth & Trends

Global plastic additives market is expected to grow significantly at a CAGR of 4.5% from 2015 to 2022, owing to their ability to enhance performance, appearance, and processability of various polymers. Increasing demand for these additives is directly proportional to the growing consumption of polymers across the globe.The global plastic additives market size was 13.18 million tons in 2014.

Additives are used with different polymers in order to result in maximum output and increase the life span of the product. Plastic additives are increasingly being used for variety of functions that include extenders, processing aids, property modifiers, and stabilizers in industrial applications.

Plastic Compounds Market Growth & Trends

The global plastic compounds market size is expected to reach USD 98.65 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% over the forecast period. The market is estimated to be driven by packaging applications across the globe. The product demand in the packaging industry is driven by high consumerism in major economies, such as China, India, Germany, the U.S., and Brazil. Various regulatory bodies have stipulated guidelines regarding packaging materials in food contact applications. Polypropylene (PP) compounds offer a cost-effective packaging solution and help enhance impact strength, flexibility, clarity, and process efficiency. High demand for Polyethylene (PE) in the packaging industry has majorly contributed to the growth of the packaging end-use segment.

The global COVID-19 pandemic moderately affected the product demand in packaging application in 2020. The demand for packaging for healthcare products, food products, groceries, and e-commerce transportation increased sharply, while the demand for luxury, industrial, and some B2B transport packaging witnessed decline owing to the slowdown and halt in industrial operations. The recommencing industrial operation is expected to positively influence the demand in industrial, and B2B transport packaging in the coming years.

Go through the table of content of Plastics Industry Data Book to get a better understanding of the Coverage & Scope of the study

Recycled Plastics Market Growth & Trends

The global recycled plastics market size was valued at USD 47.60 billion in 2022 and is expected to exhibit grow at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. Increasing environmental concerns, rapid urbanization & industrialization, and the rising need to reduce the carbon footprint in the manufacturing of virgin plastic resin are expected to drive the demand for recycled plastics over the forecast period. The demand for recycled plastics is expected to increase mainly in the packaging application, which includes packaging of processed food & beverages, medical, electronics, and various other products, owing to the growing number of COVID-19 positive cases.

The demand for medical & healthcare products has increased owing to the safety and hygiene required to tackle the pandemic situation. Amid the global COVID-19 pandemic, the demand for electrical & electronic products, such as laptops and mobiles, has increased as companies are following the work-from-home model and educational institutions have shifted from classroom learning to online classes. Thus, the growth in the demand for electrical & electronic products is expected to drive the market over the forecast period. The regional market of Asia Pacific is anticipated to register the fastest growth rate during the forecast period.

Company Profiles

Evonik Industries
Sumitomo Chemical Co., Ltd.
Arkema
Celanese Corporation
Eastman Chemical Company
Chevron Phillips Chemical Co., LLC
Lotte Chemical Corporation
Exxon Mobil Corporation
Formosa Plastic Corporation
Covestro AG
Toray Industries, Inc.
Mitsui & Co. Plastic Ltd.

Competitive Insights

The global plastics industry is fragmented in nature with the presence of various key players such as BASF SE, Dow Inc., DuPont, Evonik Industries AG, SABIC, Sumitomo Chemical Co., Ltd., Arkema, and Celanese Corporation as well as a few medium and small regional players operating in different parts of the world. The global plastic molding companies face intense competition from each other as well as from the regional players who have strong distribution networks and good knowledge about suppliers & regulations.

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About Grand View Research

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com/sector-reports-list