Glass Fiber Reinforced Plastic (GFRP) composite Market Overview:
Glass Fiber Reinforced Plastic (GFRP) composite are the materials used in various end use industries. The higher strength to weight ratio property is the driving force in this market. Transportation Industries are using good amount of GFRP composite materials. North America and Asia regions are the largest markets for GFRP composite market. The wide use of these composite materials in aircraft structural components, aerospace industries, construction sectors are fueling the market growth.
Glass Fiber Reinforced Plastic (GFRP) composite Market Outlook:The applications of GFRP composites are in building and construction, aerospace, wind power Turbines, pipes and tanks, automotive and so on. In buildings, these composite materials are used as reinforcement as rebars, industrial floorings, Domes, cornice, canopies, roofs and so on. These acts as thermal resistant, low weight and more strength characteristics. In air craft application, these materials are used as fairings, engine cowlings, fan ducts. Thus this composite materials are replacing conventional materials and serving futuristic advantages during the forecast period. 

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Glass Fiber Reinforced Plastic (GFRP) composite Market Growth Drivers: The main purpose of using GFRP composite material is its properties like less weight, more elastic nature, allowing partial light, cost efficiency, high strength to weight ratio, good heat resistance material and so on. These availability of these properties are replacing many other materials and become driving force in the market.  
Glass Fiber Reinforced Plastic (GFRP) composite Market challenges: Machining of GFRP composite’s with good surface finishing and defects free is becoming challenge in this market. The improper machining of GFRP composite sheets, panels and so on leads to surface defects which finally effects the strength characteristics of the structure. So put a solution to this, manufacturers are providing different cutting tools and process that produces flawless GFRP composite material. Even minute surface flaw can affect the tensile property of the structure. 

Glass Fiber Reinforced Plastic (GFRP) composite Market Research Scope:The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Glass Fiber Reinforced Plastic (GFRP) composite. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Glass Fiber Reinforced Plastic (GFRP) composite Market, and their specific applications in different types of vehicles.
Glass Fiber Reinforced Plastic (GFRP) composite Market Report: Industry Coverage:Material type of Glass Fiber Reinforced Plastic (GFRP) composite: Glass fiber, Fillers, Epoxy, Thermo set resins, Polyester, polyurethane, Vinyl ester, Thermoplastic resins.Form of Glass Fiber Reinforced Plastic (GFRP) composite: Rebar, sheet, panels, powder.Manufacturing Method of Glass Fiber Reinforced Plastic (GFRP) composite: Injection Molding, Manual Process, Continuous process, Layup, Filament winding Process.Applications method of Glass Fiber Reinforced Plastic (GFRP) composite Market: Building and Construction, Electrical and electronics, Wind Power turbines, Automotive, Storage Containers, pipes and tanks. 

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Glass Fiber Reinforced Plastic (GFRP) composite Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia

Glass Fiber Reinforced Plastic (GFRP) composite Market Key Players:Genis, President of Owens corning company which is a leading manufacturer of Glass fiber reinforcement for composite materials. He addressed at JEC world 2018 event that their team will be on hand throughout event to provide solutions regarding their innovative composite materials. The key players referred in this market are PPG industries, BGF industries, Jushi Group, Nippon sheet glass co, Tufbar, Owens corning and few more companies. 
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Glass Fiber Reinforced Plastic (GFRP) composite Market Trends and Market Research:

• Presently different cutting tools and machining techniques are using by researches and manufacturers of companies to produce flaw free GFRP composite material. Minute flaw leads affects the tensile strength of the material. 
• The research studies shows conventional steel bogie is replaced with composite GFRP material. For this, vertical load stress, critical load conditions, twisting load conditions are calculated using Autoclave curing method.  
• Use of GFRP composite material in Wind turbine reduces the cost of the materials, construction cost and installation. The prototype is presented on 2014 and model is planned to build in the year 2016.

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For various defense operations such as border patrolling remotely controlled unmanned vehicles are used which are known as aerial drones are used. Target drones are subclass of aerial targets that are specifically created for Research, Development, testing & Evaluation (RDT&E) purposes. This encompasses many applications such as target and decoy, training, reconnaissance. The primary factors that have been driving the growth of this market include increase in spending of aerial target developments, initiatives for unmanned combat aerial vehicle programs and emphasis on testing & evaluation and training.Americas is the dominating market which held a major revenue share in 2015 mainly driven by investments in Special Forces, UAVs and fighter aircraft able to carry ground attacks. APAC attributed the fastest growth rate resulting from developing nations such as China and India developing indigenous air based defense equipment to reduce their import spending on defense. This growth was followed by Europe and RoW.  The global target drone market was estimated to be $ 4.05 billion in 2017 and is expected to grow with CAGR of 8.51% during the forecast period.
What are Target Drones?Target Drones are unmanned aerial vehicles which are controlled from a remote location. Target drone is intended as a system with ground to air defense role and for training purposes.  These are employed by the professionals for testing combat and for training of anti-aircraft crews. The technology has aided to the manufacturing of target drones getting more efficient and the designs are also marvelous with computer assistance.
What are the major applications for Target Drones?
Target drones are primarily being used by the armed forces to support the operational activities of new weapon systems. They are high performance unmanned aerial vehicles hence are being applied for advanced applications such as aerial filming and data sensing. Aerial mapping drones are high end drones and are enabled with features such as GPS and RTLS embedded on the system similarly loaded aerial survey drones are also available for military as well as commercial applications. The military generally use these target devices for training purposes and also for calibration of equipment.

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Market Research and Market Trends of Target Drones Ecosystem

• Fuel cells are becoming more practical and will be employed soon as the primary source of power. Fuel cells are still expensive and are slower to respond to load changes. HES Energy Systems is a Singapore-based company which recently announced manufacturing of hydrogen fuel cells for drones that are the smallest and lightest for the power delivered or energy stored in the world. 
• Aerialtronics is employing drones for industrial inspection in various fields. They have a UAV that can autonomously fly around wind turbines and cell towers, detect faults and generate reports more quickly. Artificial Intelligence enabled smart drones will be able to navigate and solve tasks more autonomously. These type of drones are increasingly gaining popularity and are expected to intervene in the target drone market soon.
• A contract to work with the Defense Department on a pilot, dubbed “Project Maven has been secured by tech giant Google. The contract is aimed at assisting the U.S. military to use the artificial intelligence systems. The project will be responsible for target drone strikes, and analyzing the massive trove of video recorded by surveillance cameras.
• In many ways modern consumer drones are becoming more advanced than far more expensive military systems. The best consumer models are now being redeployed for commercial use, often with little or no modification. And just as with smartphones, people who enjoyed playing with consumer drones realized it made sense to take them to work too. Even military users are beginning to pay attention to developments in the consumer market and regulatory bodies such as FAA have been set up to prevent misuse of different types of drones.
• Sensofusion from Finland was recently included in a group of companies selected by the U.S. FAA for a cooperative program aimed at the development of drone protection, location and prevention for airports. The objective of FAA is to find a system that can be deployed on air bases to spot, block and drop the unwanted unmanned aircraft systems before they get anywhere near the boundary fence, never mind into controlled airport airspace. The other companies added to the FAA Pathfinder Program at the same time include Gryphon Sensors and Liteye Systems. 

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Who are the Major Players in Target Drones market?The players profiled in the report include Boeing (U.S.), Lockheed Martin (U.S.), Northrop, Grumman (U.S.), Meggit (U.K.), GoPro, Intel, Ambarella, FLIR, Workswell.
What is our report scope?The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
• Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
• Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes. 
• Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

“We also publish more than 100 reports every month in “Aerospace and Defense”, Go through the Domain if there are any other areas for which you would like to get a market research study.”

The market for Machine Condition Monitoring market is estimated to be $2,326.39 M in 2019 and is analyzed to grow at a CAGR of 6.67% during forecast period 2020-2025.The market is booming with the significant penetration of IoT and web based monitoring tools, as they increase the production equipment efficiency of a machine throughout the lifecycle. Adding to this, the launch of various new technologies for the machine conditioning monitoring is certainly contributing to the adoption rate of the solutions.
Report CoverageThe report: “Machine Condition Monitoring Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Machine Condition Monitoring Market. 
By Monitoring Type – Vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission, radiography, radiography, motor current analysis, electrical monitoring, performance monitoring, laser interferometry, othersBy Component – hardware, software, serviceBy Deployment Model – cloud, on-premiseBy Monitoring Process – Online condition monitoring, handheld condiion monitoring, optical condition monitoring, web based condition monitoring, othersBy Application – automotive, food & beverage, oil & gas, aerospace & defense, mining & metal, water & wastewater, paper & packaging, marine, othersBy Geography – North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa)
Key Takeaways

• The significant growth in the implementation of automation technologies in the factories and penetration of the smart factories is certainly contributing to the growth of the market in North America.
• As Automation is analyzed to play a crucial role in the times of global pandemic to maintain the productivity, the shift towards the adoption of automation and wireless communication in machine condition monitoring is analyzed to be maximized thereby contributing to the growth of the market during forecast period 2020-2025
• Although the Machine Condition Monitoring market is analyzed to grow at a significant rate, the lack of availability of the trained experts for the data analytics is set to hinder the growth of the market.

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Monitoring Type – Segment AnalysisThe Machine Condition Monitoring Market is segmented into Vibration monitoring, thermography, oil analysis, corrosion monitoring, ultrasound emission, radiography, radiography, motor current analysis, electrical monitoring, performance monitoring, and laser interferometry among others by monitoring type. By monitoring type, thermography held the major share accounting to $640.96m in 2019. Thermography operates on the principle of sensing infrared radiations emitted by any object above the Absolute Zero temperature. Using an infrared detector, it is possible to convert these radiations into electrical signals which can then be displayed on a monitor as a grey level image or colour image, representing the complete surface temperature map of the object. Thermography has various implementations in a wide range of verticals including medical, military, process monitoring, electrical or mechanical engineering, energy evaluations, R&D and so on, thereby boosting the market growth during he forecast period 2020 – 2025.
Application – Segment AnalysisThe market is segmented by application into automotive, food & beverage, oil & gas, aerospace & defense, mining & metal, water & wastewater, paper & packaging, marine, others. The market was dominated by oil and gas accounting to 23% in 2019. Oil and gas plants are equipped with some of the most complex machinery in industrial production. In addition to this complexity, if a failure occurs the financial and environmental consequences born are extremely serious. Attributed to these reasons, managing oil and gas operations with high levels of efficiency, safety, and profitability is becoming exponentially more difficult. Due to the penetration of industrial automation, condition monitoring has been introduced in the oil refineries and is a crucial element in successful modern-day oil and gas plant and remote asset management. Remote condition monitoring is being utilized in the petrochemical industry and is offering numerous benefits including energy efficiency for upstream oil and gas facilities, reduced maintenance costs, materials degradation monitoring, improved field communications and mining automation, thereby elevating the market growth in the coming years.
 Geography – Segment AnalysisGlobal Machine Condition Monitoring Market is dominated by North America with a share of 37% in 2019.  The significant growth in the implementation of automation technologies in the factories and penetration of the smart factories is certainly contributing to the growth of the market. In June 2019, Schneider Electric has launched smart factory in the U.S. demonstrating quantifiable, real-time benefits of innovative ecostruxure solutions. This factory majorly showcases the IIoT integration strategies with End Users, Machine Builders, and Partners which has resulted in 20% reduction in mean time to repair of the machinery. Adding to this, the significant rise in the manufacturing industries, transportation sectors, and others with the adoption of automation are majorly contributing to the growth of the Machine Condition Monitoring market during the forecast period 2020-2025. The increasing expansions of the manufacturing industries in Canada are majorly contributing to the growth rate of the market. In June 2018, Reko International a parts supplier has expanded it’s automation facility in Canada with an investment of $5.7M. Therefore the rise in the expansion of production plants with automation is analyzed to impact on the growth rate of the market.
 Drivers – Machine Condition Monitoring Market 

• High Adoption of the cloud technologies 

Cloud technologies are deployed for in-depth machine monitoring. The cloud based solutions allow the user to organize the maintenance report for the industrial machinery in a simple way. Cloud based technologies provide access from anywhere, advanced analytics, configurable dashboards, and scalability, without any maintenance of local servers. As the IoT based devices are highly deployed in these applications, the cloud solutions ensure the secured access to the data and the position of the machinery.

• Growing wireless communication in machine conditioning 

The integration of the IoT devices, sensors in the modern machinery equipment is certainly providing wireless communication and easing the indication if there is any misfunctionality in the machines thereby reducing the risks. The sensor solutions can digitally enhance cumbersome manual activities including quality control, and visualization thereby leveraging new levels of intelligence, safety, and efficiency in the machine operations. The growing investments in factory automation is further set to escalate the market growth rate. In 2018, ABB has announced an investment of $113.7M in machine and factory automation in Austria. As Automation is analyzed to play a crucial role in the times of global pandemic to maintain the productivity, the shift towards the adoption of automation and wireless communication in machine condition monitoring is analyzed to be maximized thereby contributing to the growth of the market during forecast period 2020-2025.
Challenges – Machine Condition Monitoring Market 

• Lack of trained experts in the data analytics 

Although the Machine Condition Monitoring market is analyzed to grow at a significant rate, the lack of availability of the trained experts for the data analytics is set to hinder the growth of the market. When a downtime is noticed in a machine, the quick resolving of the based on the data analysis results in minimal losses, however when not handled leads to high losses thereby impacting of the market growth rate. Also,  accessibility to the automated solutions, cloud solutions for machine condition monitoring in remote areas is difficult therefore it is analyzed to hinder the adoption rate of these systems.
Market LandscapeProduct launches, acquisitions, and R&D activities are key strategies adopted by players in the Machine Condition Monitoring Market. Machine Condition Monitoring driver market is expected to be dominated by major companies such as National Instruments, Parker Kittiwake, Rockwell Automation, Bruel & Kjaer Vibro GmbH, Emerson Process Management, Fluke Corp and Honeywell Process Solution among others.
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Acquisitions/Technology Launches/Partnerships

• In April 2018, Environnement S.A have announced a partnership with EMS Bruel & Kjaer bringing together its extensive air quality monitoring instrumentation under the newly created trademark envea™ and its global distribution channel and customer base to extend the capability of EMS’s environmental monitoring service offerings. This is set to propel the market growth in the coming years.
• In April 2020, Dewesoft has announced he launch of its low-cost, high performance, totally distributed and easy to use solution to conquer the Machine Condition Monitoring market. The solution suits applications such as permanent condition monitoring of gearboxes, fans, motors, blowers and any other rotating machinery in automotive, mining, pulp, paper, iron, steel, chemical, cement, oil and gas, facility management and power production.

 Asia’s ethylene glycol market was estimated to be 16.38 MMT in terms of demand in 2017 and is expected to grow at a CAGR of 4.5% during 2018 – 2023. China accounts the major share in ethylene glycol market when compared with other countries. Among the various types of ethylene glycol, monoethylene glycol was estimated to be 14.83 MMT in 2017 and is projected to rise with a CAGR of 4.7% during 2018 – 2023.The ethylene glycol market in Asia is rising due to increasing demand for PET resins and polyester fibers in packaging and textile industries. What is ethylene glycol?Ethylene glycol is an odorless, colorless, viscous alcohol-based liquid. It is widely used as a raw material in the manufacture of polyester fibers and for antifreeze formulations. The three ethylene glycols are monoethylene glycol, diethylene glycol and triethylene glycol. These glycols have similar chemical properties but different physical properties and hence vary in applications. Properties such as high boiling points, hygroscopicity, non-corrosiveness, plasticizing, freeze point depression and lubrication has broadened its use for various applications.
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What are the applications of Ethylene Glycol?Ethylene glycol is commercially used as an antifreeze and coolant. For instance, ethylene glycol avoids overheating of car’s engine during summer and freezing during winter. Ethylene glycol is used as industrial coolants for gas compressors, heating, ventilating, and air-conditioning systems, and ice skating rinks. It is also used in polyethylene terephthalate (PET) resins which is used to make plastic bottles for soft drinks and packaging films. It is used in manufacturing of polyester fibers for clothes, carpet and pillows. It is also used in the manufacture of fiber glass for bathtubs, jet skis and bowling balls. These products are preferred as they are energy saving, cost efficient and recyclable.

Market Research and Market Trends of Asia’s Ethylene Glycol Market:

• Due to the low availability of oil and gas in China, the ethylene glycol market in China is slowly shifting its focus on the manufacturing of ethylene glycol from coal than petroleum route. This technology uses coal as a feedstock instead of petroleum. China is anticipated to commercialize its coal based ethylene glycol manufacturing process in next couple of years. 
• Human pluripotent cells are essential in various clinical researches. Hence, it is necessary to preserve these cells so that the cells do not deteriorate. The various other slow freezing method resulted in cell dissociation with poor post thaw survival. Recently, a new combination of cryopreservant which includes 6% HES, 5% DMSO and 5% ethylene glycol has proved to achieve achieved post-thaw recoveries up to 80% and hence is extensively used.
• Extensive research is carried out for enzymatic recycling process of PET. Many companies have demonstrated the successful depolymerization of PET based commercial products such as bottles, packaging films into TPA and monoethylene glycol. This innovation gives a wide scope to recycle all the PET products which was otherwise sent to landfill or incineration causing environmental pollution.
• Bio-PET is produced from plant-based MEG rather than petroleum-based MEG. This plant based MEG is produced from agricultural wastes such as includes molasses, hay and bagasse. Bio-PET is widely used I making water and soda bottles as they are environmental friendly. Bio – PET have similar properties as that of regular PET and can be recycled. These recycled products can be used in bottles or as fibers in polyester industries. Bio PET bottles have been trusted by leading drink manufacturers such as Coco Cola (Japan) and has earned various accreditation from Japan food and Drug association.

Who are the Major Players in Asia’s Ethylene Glycol market?The companies referred in the market research report includes China Petrochemical Corporation, NAN YA PLASTICS Corporation, Reliance Industries Limited, Oriental Union Chemical Corporation, Royal Dutch Shell plc and several others.
What is our report scope?The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
Inquiry Before Buying
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
• Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
• Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes. 
• Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

 Ultrasound Devices Market Overview The ultrasound devices market is estimated to surpass $8,229m by 2023, growing at a CAGR of 3.7% during the forecast period 2018–2023. The ultrasound devices market is poised to witness significant growth owing to the increasing technological advances in ultrasound systems. Europe region is the largest market for ultrasound devices due to the rising demand for early disease diagnosis in this region.
Ultrasound Devices Market OutlookUltrasound devices make use of sound waves with frequencies higher than the human upper audible limit. Typical ultrasound devices operate with frequencies from 20 kHz up to several gigahertz. Ultrasound devices may either be diagnostic or therapeutic in nature. A diagnostic ultrasound, also known as sonography, is an imaging technique that uses high-frequency sound waves to produce images of the different structures inside the body. Similarly, a therapeutic ultrasound makes use of sound waves above the range of human hearing but does not produce image. Its purpose is to interact with tissues in the body in order to either modify or destroy them. The transducer of the ultrasound device produces ultrasound waves that reflect from the  boundaries of  organs and surrounding fluid, and between regions with differing tissue density and are used to visualize internal body structures such as muscles, blood vessels, tendons, joints, and internal organs to derive the pathology. This report provides an in-depth analysis of the ultrasound devices market by type, technology, application, end user, and geography. Based on type, the market is majorly segmented into contrast ultrasonography, molecular ultrasonography, elastography, and compression ultrasonography.  
The report also analyzes the market taking into consideration the various regions including North America, Europe, Asia-Pacific, and Rest of the world as well as the prominent countries for the ultrasound devices market across these regions. The diagnostic ultrasound technology segment of the ultrasound devices market in Europe was valued at $1,885m in 2017 and is estimated to reach $2,225m by 2023, growing at a CAGR of 2.7% during the forecast period.
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Ultrasound Devices Market Growth Drivers Growing technological advances in ultrasound systems provide ultrasound images with much higher resolutions. Sonoelastography is one among the technological advancements that measures tissue stiffness. These technological advancements increase the clinical and diagnostic applications of ultrasounds. Rising diagnostic ultrasound imaging procedures coupled with increasing awareness about early disease diagnosis are boosting the growth of the ultrasound devices market. Rise in demand for minimally invasive therapies is also influencing the growth of the ultrasound devices market.
Ultrasound Devices Market Challenges Lack of experienced and skilled sonographers is hampering the growth of the ultrasound devices market. Even if sonographers are available, they are not skilled enough to work in rural conditions. This greatly affects the ultrasound devices market negatively. Limitations in ultrasound Imaging is also restraining the growth of the ultrasound devices market. In most barium exams, computed tomography and MRI are the choices of imaging as ultrasound imaging is not an ideal option while imaging air-filled bowels or organs obscured by the bowel and other situations where air might have filled up. For visualizing the internal structures of bones, other diagnostic imaging sources are used, such as MRI. These limitations in applications also greatly limit the market for ultrasound devices.

 Ultrasound Devices Market Research ScopeThe base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the applications of ultrasound devices market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types and technology of ultrasound devices, and their specific applications. 
Ultrasound Devices Market Report: Industry Coverage
Types of Ultrasound Devices: Contrast Ultrasonography, Molecular Ultrasonography, Elastography, and Compression Ultrasonography
Technology of Ultrasound Devices: Diagnostic Ultrasound, and Therapeutic Ultrasound
Applications of Ultrasound Devices: Oncology, Physiotherapy, Radiology/Imaging, Gynecology, Urology and others 
End User of Ultrasound Devices:  Hospitals, Clinics, Diagnostic Centers and Research Institutes
The Ultrasound Devices market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include: 

• North America: The U.S., and Canada
• Europe: The U.K., Germany, Italy, France, Spain, Russia, and Rest of Europe
• APAC: China, Australia & New Zealand, South Korea, India, Japan and Rest of APAC
• Rest of World: Latin America, Middle East and Africa 

Ultrasound Devices Market Key Players Perspective

• Some of the other key players mentioned in this report are GE Healthcare, Philips Healthcare, Canon Medical Systems Corporation and Hitachi, Ltd., Siemens Healthcare GmbH, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Samsung Medison, and Fujifilm Holdings Corporation.
• Ultrasound Devices Market Trends
• Increasing focus on therapeutic applications of ultrasound with advancements in technology, such as high intensity focused ultrasound (HIFU) and microbubble assisted delivery of drugs and genes, provide significant opportunities for ultrasound devices manufacturers. Use of ultrasound for breast examinations for women with higher risks of cancers, which are often missed through mammograms, is propelling the growth of the ultrasound devices market. Promotion of mobile ultrasound systems, where the portable ultrasound scanners have the ability to send data to mobile phones has opened up scope for point-of-care ultrasounds.  

Footwear materials are basically used in the manufacturing of footwear. Leather has been prime footwear material but the focus has been shifted to other materials like plastics, rubber and more in recent years. The key factors for the increase in demand for footwear which has resulted in rise footwear materials is due to increase in disposable income in major countries especially in lower and middle income classes. Adoption of westernization and increase in health awareness that increased demand for athletic footwear also attributed for the rise in demand. The footwear manufacturers must comply with the standards insisted by governing bodies so that potential risks to consumer can be minimized. Some of the standards for footwear manufacturers are Consumer Product Safety Improvement Act (CPSIA), Guobiao standards, International standards organization (ISO) and others.Footwear materials market has been segmented into different segments such as by type, by end user and by geography. The market is segmented by type such as leather, rubber, plastics, textiles, plaiting materials, wood and others. Footwear materials market is further segmented based on end user such as shoe, sandals, slippers and others. Each of these segments is analysed in depth to provide a comprehensive analysis on footwear materials market. The report provides detailed breakdown of various types of footwear materials and their function. The overall market is also presented from the perspective of different geographic regions and the key countries in each region. 
Competitive landscape for industry and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2014 are provided. 
Sample Companies Profiled in this Report are:

• Hansa Group AG, 
• J Hewit & Sons Ltd, 
• Townsend Leather Company, Inc., 
• Garrett Leather Corp
• 10+.

The report also provides a market overview for the footwear materials market. The study includes the demand of this particular market on a global and regional scale for a six year period of 2014-2020, both in terms of volume(kilo tons) and revenue($ billion). 
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Specialty Fertilizers Market Overview:The market of Specialty fertilizers witnessing robust growth due to increased demand over food products and agricultural products in populated countries. Specialty fertilizers are used in crops to produce good yield of crops as well as profits. The market is fragmented by different types, colors, forms, applying methods, applications and end users of Specialty fertilizers. Specialty Fertilizers usually constitute Nitrogen fertilizers, potassium fertilizers, Phosphorus Fertilizers and their combinations. The market of nitrogen and Phosphorus fertilizers has growing demand in the specialty fertilizers market. 
Specialty Fertilizers Market Outlook:The Specialty Fertilizers are used for agriculture, horticulture and non -farm use, hydroponic and so on. In hydroponic system, the specialty fertilizers are used for different crops like broccoli, turnip greens and so on. In the market, the specialty fertilizers produced by different companies are maintaining free of harmful chemicals and heavy metals and safe to the environment. As Specialty fertilizers are expensive, the researchers are finding alternatives to reduce cost. 
Specialty Fertilizers Market Growth Drivers: The specialty fertilizers has ability to increase the plant health and productivity which finally leads to good yield of the crop, quality of the production. These became driving forces in this market. Another driving force is action of specialty fertilizers that varies from crop to crop. Few fertilizer products offer some percent of action in one week and rest in other weeks. This became advantage in few seasonal growing crops. The increase in population and demand over agricultural productivity also drives the specialty fertilizers to yield more productivity that benefits all people. 
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Specialty Fertilizers Market challenges: Insufficient Land area and more yield of crop per acre are the two challenges facing by farmers in this market.  The fertilizers cost and improper usage of NPK (Nitrogen, Phosphorus, Potash) in the crops are the challenges observed in this market. The improper use of NPK effects the yield of the crop. The research shows, more use of NPK, lowers the crop yield and vice versa.. Most of the farmers are unaware about the presence of different types of specialty fertilizers. Creating awareness to different end users became challenge in this market. 
Specialty Fertilizers Market Research Scope:The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Specialty Fertilizers. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Specialty Fertilizers Market, and their specific applications in different types of vehicles.
Specialty Fertilizers Market Report: Industry Coverage:
Types of Specialty Fertilizers Market: Dry fertilizers, Liquid and Gas fertilizers, Urea, UAN, others
Target crop of Specialty Fertilizers Market: Oilseeds, vegetables, fruits, Crash crops, others
Form of Specialty Fertilizers Market: Granular, Powder, Liquid, Formulated Granular, Coatings, Crystalline
Applications method of Specialty Fertilizers Market: Banded, Surface applied
End Users of Specialty Fertilizers Market: Horticulture, Agriculture, Hydroponics, Nonfarm Use
Specialty Fertilizers Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia

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Specialty Fertilizers Market Key Players:The key players referred in this market are Coromandel International Limited, Tata chemicals Ltd, Eurochem, Koch Industries Inc, Yara International, Agrium, Soiltech, The Andersons and few more companies.  
Specialty Fertilizers Market Trends and Market Research:

• On November 2016, Potash Corporation and Agrium companies merged together in fertilizers industry and named new company as Nutrien. This Nutrien Company is expected to reach $36 billion and became second largest producers of Nitrogen fertilizers. 
• Hydroponic is one of the method or system of producing green leafy vegetables in both commercial and residential applications. The researchers are finding how much concentration (rate) of specialty fertilizers should be used on Hydroponic system. 
• As specialty fertilizers vary from commodity fertilizers, the makers of this market nowadays are understanding hidden costs, contenders and planning to build the item portfolio to amplify their edges.

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Global Fuel Additives Market OutlookWorld Bank estimates that more than a whopping $600 million passenger cars travel the roads of the world today. Furthermore, according to the International Organization of Motor Vehicle Manufacturers (OICA), more than 97 million motor vehicles were produced in 2017 with a production growth rate of 2.36% as compared to the previous. The figure translates to billions of liters of fuel consumed on a daily basis across the globe. Now, since fuel utilizes fuel additives for several benefits such as efficiency enhancement, vehicle durability, and pollution control, this becomes a major driving factor leading to the fuel additives market growth. 
The fuel additives market size is $5059 million, according to a latest business intelligence report from IndustryARC, and the market will robustly grow at a CAGR of around 4.8% during the forecast period of 2019-2025. The report comprises of fuel additives market analysis with well-marshaled facts and statistics pertaining to market size, growth, and trends that are affecting the market. 
Fuel Additive Market Trends – Environmental Aspect and Other Factors Driving Growth  
Basically, fuel additives enhance octane rating of a fuel, which is a standard yardstick for measuring the performance of an engine or aviation fuel. The fuel additives act as corrosion inhibitors, oxygenates, and anti-oxidants for some fuels. Their most common applications are as corrosion inhibitors and metal deactivators. 
Apart from these applications, there are many other aspects that influence the fuel additives market growth. 
Environmental Aspect – 
Environmental control has been a major concern in the world for some years now. Now, the exhaust pollutant levels of the smoke emitted by vehicles have a detrimental effect on air quality. According to the findings by WHO, air pollution attributes to deaths of millions of people across the globe. These deaths are linked to the emission of particulate matter (PM), and road transport emits as much as 30% of PM in European cities and 50% in Organization for Economic Co-operation and Development (OECD) countries that include United Kingdom, France, the U.S., and 17 others. Furthermore, total pollution due to PM emitted by vehicles falls in the range 12-70%, which can affect the health of an enormous number of people. So, it has become imperative to improve the quality of vehicular exhaust in order to make air healthy for breathing. This is opening up the market for fuel additives in many countries. 
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Environmental Regulations Bolstering the Fuel Additives Market – 
To ameliorate the current situation of vehicular air pollution, developed nations such as the U.S. and UK have regulations pertaining to the same. In the U.S., the Motor Vehicle Air Pollution Control Act regulates the air pollution caused by vehicles. With more than 11 million vehicles traveling on the roads of the U.S. which is 11.5% of the total vehicles in the world as reported by the OICA in 2017; fuel additives market size is large. This translates to the U.S. observing 36% fuel additives market share in the world. 
Refineries – A Major Boost to Fuel Additives Market 
Fuel additives are also added during the production stage in refineries to enhance the quality of fuel and improve the quality of fuel and to meet the fuel specification norms. It also increases fuel performance and overall profitability. This fuel can be in the form of liquefied petroleum gas (LPG), compressed natural gas, biofuel or ultra-low sulfur diesel. 
Now, according to the International Energy Agency (IEA), a strong world economy will lead to a significant increase in the oil demand with an average annual rate of 1.2mb/d. So, by 2023, the oil demand will reach 104.7mb/d which will lead to a rapid fuel additives market growth. 
China and India will contribute to 50% of the oil demand in the world. This will open up the fuel additives market in those regions. The global refining capacity is also forecasted to increase to 7.7mb/d in the year 2023, which will again lead to an upsurge in the demand for fuel additives. 
Performance Enhancement of Engines –
The power output of an engine highly depends on the lubrication which aides to the metal contact in engines, and it enhances the engine’s overall performance. A lot of engines especially that of vehicles witness performance issues. So, fuel additives are high in demand for performance enhancement of engines. Furthermore, fuel additives also increase the service interval durations, thereby lessening the global amount of money spent on vehicle servicing. The analyst of the IndustryARC report attributes the application CAGR of fuel additives in the automotive segment to be 4.7% through to 2025. 
Even though electric vehicles market is envisioned to occupy the market of oil engines, the oil resources are going to stay here for a long time, and so, it is not going to affect the sales of fuel additives. Furthermore, oil engines are way more advantageous than electric vehicles in terms of performance. 

Global Fuel Additives – Market Players and Key Takeaways 
BASF – 

• The prominent conglomerate increased the production capacity of antioxidants that are fuel additives used for lubrication. This is attributed to the increase in global demand for long-life lubricants. The organization has also signed a technology licensing and manufacturing agreement with the Feiya Chemicals Co. for capacity expansion in China. 

Chevron Oronite –

• Chevron Oronite’s Singapore plant completed the lubricant additive carboxylate project which will double the global production of the same. Furthermore, the organization has planned to open a new additive plant in Ningbo, China to fulfill future requirements. The facility will previously perform the blending and shipping operations, and it will eventually expand to component manufacturing as the lubricant additive’s demand will grow. 
• Apart from the aforementioned, Afton Chemical Corporation, Evonix Industries, and Lanxess are some other leading manufacturers with notable fuel additives market revenue that are consistently growing to meet the global demand for the products. 

With an incessant increase in the number of vehicles across the globe, the demand for fuel is increasing. This demand is reflected by a surge in the manufacture of fuel, especially oil across the globe in various refineries. Furthermore, with depleting air quality in the atmosphere, the regulations regarding air pollution are only going to be more stringent for which fuel additives will become necessary to control the air pollution by the vehicular exhaust. So, the industry will observe a remarkable growth in the fuel market forecast period of 2019-2025. 
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Coil Coatings Market Overview:

As documented in the Steel Statistical Yearbook 2018 by the World Steel Association (WSA), global steel production was valued to be 1,690,479 tons, which is nearly 4% greater than that in 2016. The upsurge in steel production worldwide is attributable to the growing demand for steel from various sectors. Before used for fabrication, steel is being coated with coil coatings. The production growth of steel is significantly supporting the coil coatings market that had a market size of $5 billion as of 2018. Furthermore, the demand for coil coatings is estimated to increment at a healthy CAGR of 5% during the forecast period of 2019 to 2025.

APAC has been observing rapid growth in the industrial sector for quite a few years. These industries chiefly include the construction and automotive sectors that are attributed to heavy use of metals that are coil-coated before end-use application. The rising growth prospects in the real estate sector with an increasing demand for low-cost housing is leading to an augmented demand for steel that is used in construction. China is the leading country in APAC that has witnessed a continuous rise in the real estate and automotive sectors followed by India. APAC had the maximum regional coil coatings market share of 48% in 2018.

Coil Coatings Market Outlook:

Coil coating or functional coil coating is a continuous or automated process of coating coils of metals with polyester resin and other coating materials for further use, and these coatings have properties such as stain resistance. They are used for automotive coating applications and in each sector that uses metals.

The key application of coil coatings is in the building and construction sector. According to the International Federation of Accountants (IFAC), nearly half of the material that contributes to the global economy which translates to 42.4 billion tons, is used in the construction sector for the maintenance of infrastructure. Evidently, a significant part of this material is because of the use of metals in the building and construction industry which warrants coil coatings. Owing to the fact that the construction industry is poised to dominate the global GDP to suffice the sustainable development goals of the United Nations (UN) for the growing population, the application of coil coatings in the building and construction is estimated to observe a steady CAGR of 5% through to 2025.

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Coil Coatings Market Growth Drivers:

·         The Growth of the Automotive Industry –

The total number of motor vehicles produced in 2018 was 91,538,640, according to the findings by the International Organization of Motor Vehicles Manufacturers (OICA). Furthermore, the future foresees a tangible increase in production of the same, and it’s also evident in the conceivably catapulting boom in the electric vehicles market and self-driven trucks market. With the enhanced production of motor vehicles, the use of metals will increase which will lead to a perceptible surge in demand for coil coatings across the globe. With the automotive industry proving to be a sustainable coil coatings marketplace, the future will observe a gamut of vendors reaping revenues by providing coil coatings and services pertaining to it.

·         The Oil & Gas Sector Supporting the Market –

There is a discernable growth in demand for oil & gas resources across the globe which is again because of the augmented demand from the automotive and aerospace industry. Evidently, oil & gas is one of the major sectors that utilize metals and alloys, especially steel in structures, pipelines, reactors, and other equipment that are an integral part of an oil & gas plant. Apparently, most of the steel products undergo the coil coating process before being used for various applications. The steel and other metals utilized in the oil & gas industry are creating a revenue avenue for the vendors in the coil coatings market.

·         The Application in Electrical and Electronics Industries –

Electrical and electronic devices are attributed to a hefty use of metals for coils, inductors, transformers, armatures, and even home appliances. The metals used in these applications undergo coil coating. With the emergence of new transformers and armatures to suffice the global need for electricity, the vendors in the coil coatings industry will leverage the demand for metals.

Coil Coatings Market Trends –

·         Polyester Resin to Dominate the Market – The growth of the construction industry will lead to a dominance of polyester resin in the coil coatings market. This is particularly because of the fact that polyester resin is prevalently used in roof and wall cladding of the buildings.

·         In October 2018, Nippon Paints launched a joint coil coatings innovation center with the domestic market leader in manufacturing of pre-coated metals, Wiskind. This will lead to the development of some value-added products in the coil coatings market.

Coil Coatings Market Challenges –

The major challenges faced by the vendors in the coil coatings market are the enhanced expenditure on the coating technology and the surge in the cost of raw materials, which collectively increases the time duration to reach the breakeven point in the business. However, coil coatings find applications in lucrative sectors that enable their profit margins to shoot up. Moreover, the marketplaces for coil coatings are never going to observe a decline which further makes this market sustainable for new vendors to venture into.

Coil Coatings Market Key Players Perspective –

The major players leveraging the rise in demand for coil coatings and capitalize for the greater coil coatings market share are PPG, Axalta Coating Systems, Valspar, Nippon Paints, Kansai Nerolac Paints Ltd, Henkel AG & Co.,Wacker Chemie AG, DowDuPont, Wacker Chemie, and The Beckers Group.

Coil Coatings Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the coil coatings market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The coil coatings market research report also analyses the application of the product based on the type that includes polyester, fluororpolymers, and plastisol. 

Coil Coatings Market Report: Industry Coverage

The coil coatings market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia 

Carbon Fiber Market Overview

Carbon Fiber Market size is forecast to reach $11.2 billion by 2026, after growing at a CAGR of 11.5% during 2021-2026. Carbon fiber is a high strength, low weight, high stiffness, conductive to electricity, and is one of the most corrosion and heat resistant material. Growing demand for lightweight products from aerospace & defense, automotive, and wind energy industries and minimizing carbon emissions are driving the market growth. Whereas, the growing building and construction sector in the emerging country is also driving the market growth. As carbon fiber is used primarily in the strengthening and reinforcement of concrete, steel, timber, and masonry. Furthermore, increasing demand for carbon fiber composite in consumer electronics has made the products lighter and thinner, and more textured is likely to drive the market growth.

Carbon Fiber Market Report Coverage

The report: “Carbon Fiber Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Carbon Fiber Industry. By Raw Material: Polyacrylonitrile Based (PAN), Pitch Based (Mesophase Pitch Based, and Petroleum Pitch Based), and Others (Ultra High Elastic Modulus (UHM), High Elastic Modulus (HM), and Low Elastic Modulus (LM)).By Tow Type: Continuous, and Chopped.By Application: Composite, Non-Composite, Molding Compound, Woven Fabric, and Others.By End-Use Industry: Aerospace & Defense (Fighter Jets, Armored Vehicles, Commercial Jets, Rotorcraft, Satellites, and Others), Automotive (Interior, Exterior, and Others), Sporting Goods (Tennis Rackets, Golf Club, Hockey Sticks, Archery, Others), Energy and Power (Wind, Solar, and Others), Building & Construction (Residential, Commercial, and Others), Marine, Healthcare, Electric & Electronic, and Others.By Geography: North America, South America, Europe, Asia-Pacific, and Middle East & Africa

Key Takeaways

• Europe will continue to have the major share of total worldwide wind energy carbon fiber demand during the forecast period owing to its renewable energy targets and use of offshore wind capacity.
• High price of carbon fiber is one of the factors that’s hindering the markets growth.
• COVID-19 will hinder the markets growth, as the end use industry are facing a slow growth, hence reducing the demand for carbon fiber.

Carbon Fiber Market Segment Analysis – By Raw Material

Polyacrylonitrile Based (PAN) segment held the largest share of more than 65% in the carbon fiber market in 2020.  The PAN based component offers various benefits like low density, high strength, high modulus, high-temperature resistance, wear resistance, corrosion resistance, fatigue resistance, creepage resistance, electric conduction, heat conduction, and far-infrared radiation. These properties of PAN make it suitable to use across various end-use industries like the aerospace & aviation industry, automotive industry, wind turbines, anti-flame materials & clothes, and sports equipment. Thus, growth in these end-use industries further drive the market growth.

Carbon Fiber Market Segment Analysis – By  Tow

Continuous tow segment held the largest share of more than 60% in the carbon fiber market in 2020. Continuous tow is the most widely used tow, due to its weight, compatibility with resins, and various range of sizing available for optimal processing. These are heavy tows with 50,000 filaments, each of these tows have heavy mechanical properties, which can be transferred to the finished products and components to enhance their properties such as strength, durability and structural properties. Furthermore, Continuous tows provide cost advantage, especially when used in a high-volume process, increases the reliability of the end product, enhance production efficiency and can be merged with all thermoset and thermoplastic resin systems. Continuous tow also makes carbon fiber far superior to glass and aramid fibers because of their added strength & stiffness and are used in manufacturing wind turbines, industrial, and automotive manufacturing. Therefore, these properties & advantages of continuous tow will further drive its demand in the market.

Carbon Fiber Market Segment Analysis – By  Application

Composite segment held the largest share of more than 55% in 2020 and is forecasted to be the most utilized application of carbon fiber. The high strength, high thermal & electrical conductivity, light weight, and high modulus properties of composite makes them suitable to use across aerospace & defense, automotive, sports, and wind turbine industry, which are ideal for its growth. According to a 2019 report released by Aerospace Industries Association (AIA), in 2018 American aerospace & defense industry export amounted for $151 billion, out of which $131.5 billion were from civil aviation and the total revenue in 2018 was $929 billion, which was an increase from $865 billion in 2017 with a growth of 4.17%. The other industry driving the markets growth is automobile industry. For instance, a report released by Indian Brand Equity Foundation (IBEF) in 2020, Indian automotive industry is expected to reach $282.8 billion by 2026, which will drive the markets growth in the region. Furthermore, the growing demand for BMW i3 is also driving the market growth. As the BMW i3 is still the only car with a significant amount of carbon composite content.  

Carbon Fiber Market Segment Analysis – By End User

Aerospace and Defense segment held the largest share of more than 25% in the carbon fiber market in 2020. Airbus A350 XWB, JSF, F18 E/F, A380, Eurofighter Typhoon, Global Express, Airbus A400M, V22 Osprey, Boeing 787, and GEnx Engines are some of the end products where these composites are used and are ideal for the growth of the market. The use of carbon fiber in manufacturing narrow-body aircraft is also witnessing growth and creating a demand for the market. According to Indian Machine Tool Manufacturers’ Association (IMTMA) report, the Aerospace and Defense (A&D) market in India is estimated to reach $70 billion by 2030, which will further create the demand for carbon fiber in the region.

Carbon Fiber Market Segment Analysis – By Geography

Among the regions, Europe held the largest share of more than 40% in the carbon fiber market in 2020. With countries such as UK, France, and Germany are driving the market growth. The presence of major aircraft, defense, and electric vehicles manufacturers in the region like Airbus, Safran, Rolls Royce, BAE Systems and others are likely to boost the demand for the market. Whereas, the stringent environment norms and growing demand for electric vehicles is also contributing to the carbon fiber market growth in the region. As per International Council on Clean Transportation report in 2020, there were 1.8 million units of EV in Europe, out of which 564,000 units registered in 2019. With Germany & Norway having the largest share in the market. Furthermore, the growing wind energy sector across the regions also fuel the market growth.
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Carbon Fiber Market Drivers

Increasing use of carbon fiber in Sports & Fitness Industry

With Carbon Fibers high-strength and light-weight characteristics, they are being widely used in the manufacturing sports equipment. Sports equipment such as tennis racquets, oars, pickleball paddles, archery, hockey sticks, fishing rods, baseball bats, and bicycles are made of carbon fiber. Carbon Fibers provide design flexibility, when designing a highly-specific applications. The exact shape of equipment is very critical for its performance and can easily be achieved by using carbon fiber composites. Carbon fiber helps to enhance the performance of bikers and golfers. The most specific use of carbon fiber in sporting equipment can be seen in the tennis racket. Therefore, the above factors are driving the demand for the carbon fiber market in various sporting equipment. According to International Health, Racquet & Sports club Association (IHRSA) report released in 2019, the global fitness industry total revenue was $94 billion in 2018, which will further rise in coming years, and in return will drive the demand for carbon fiber in the forecasted period.

Increase in demand from Clean Energy Sector 

One of the major factors that driving the Carbon Fiber Market is the wind energy sector. With the depletion of fossil fuels, the world is now acknowledging the synthesis of energy from renewable resources. Carbon fiber is widely used in manufacturing turbine blades, which makes blades slender resulting in higher aerodynamic efficiency, lighter, longer, stiffer, and overall, more efficient wind turbine providing lower Levelized Cost of Energy (LCOE). The advancements in the wind energy sector will lead to the increasing use of carbon fiber. With the world government focusing on environmental issues, an increase in investment in wind energy is favorable for the growth of the market. For instance, according to International Renewable Energy Agency (IRENA), the global onshore wind power capacity was 594.2 GW in 2019, which was an increase from 539.5 in 2018, and is expected to reach 1,787 GW by 2030, such significant growth in wind energy will propel the demand for carbon fiber market in the forecasted period.

Carbon Fiber Market Challenges

High Cost & Availability of Substitutes

The high cost of carbon fiber is a major concern associated with the market growth. These composites are not used in wide applications due to its high cost and developing low-cost technologies is the main challenge for the manufacturer. In the automotive industry, carbon fiber composites are only used in high-end and luxury cars. Moreover, substitute composites of carbon fibers such as glass fiber, aluminum, copper, basalt fiber, and natural fiber pose a serious challenge to the growth of the market. As these substitutes have similar end-use applications and are durable & cost effective.

Emergence of COVID 19

COVID-19 has disrupted many businesses, markets, and the overall supply chain and continues to impact on people, communities, and global economies. The pandemic has severely hindered the growth of carbon fiber market, as the automotive, and aviation industry are facing slow growth due to travel restriction, slowing demand for spare parts as maintenance in reduced, passengers stop traveling, customers postponing delivery of new aircraft and no discretionary spending by consumers. Moreover, in the long run the aircraft manufacturer will face a cash crunch this will further decrease the demand for carbon fiber.

Carbon Fiber Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Carbon fiber market report. In 2020, the market of Carbon Fiber has been consolidated by the top 10 companies accounting for xx% of the share. Major players in the Carbon Fiber Market are Hexcel Corp., Formosa Plastics Corp., TEIJIN Aramid B.V., Hyosung Advanced Materials, ESE Carbon Co., Mitsubishi Chemical Corp., MakerBot Industries LLC, SGL Carbon SE, Solvay S.A, Hengshen Co., Ltd., and DowAksa Advanced Composites Holding B.V., among others.

Acquisitions/Technology Launches

• In August 2020, Hexcel Corp. announced the launch of HexPEKK material, an electrically conductive, high-performance, PEKK-based thermoplastic carbon fiber composite, which is ideal for 3D-priting components for commercial aerospace, and Defense. This new launch will further expand Hexcel offering, and will drive the carbon fiber markets growth.
• In May 2020, MakerBot Industries LLC, launched a new METHOD Carbon Fiber Editions, which are designed to enable engineers to print stronger and more accurate parts for manufacturing tools, jigs and fixtures, and end-use production, which will further drive the markets growth.