High Temperature Elastomers Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast

Better properties of high-temperature elastomers compared to other types, coupled with their growing use in automotive and other industries, are driving the growth of the high temperature elastomers market. Globally, the domain accounted for a revenue of $9,991.7 million in 2017 and is predicted to grow to $14,951.4 million by 2023, advancing at a CAGR of 7.0% during the analysis period (2018–2023). Elastomers are made up of long chains of atoms, possessing elastic properties. These have important uses in the rubber, automotive, and chemical industries. 

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On the basis of type, the high temperature elastomers market is classified into perfluorocarbon, fluorocarbon, silicone, fluorosilicone, and others. Among these, in 2017, silicone was the largest category with a revenue contribution of more than 65.0% in the market. Due to its possession of elastic properties which are unaffected by extreme conditions, the requirement for silicone elastomers from the automotive and construction industries increased. In the construction industry, these are used as a structural glazing material and sealant, while the automotive industry uses elastomers for vibration dampers and cure -place gaskets. 

On a global ground, Asia-Pacific (APAC) is expected to be the fastest-growing market, registering a revenue CAGR of 7.4% during the analysis period. The growth of the high temperature elastomers market in APAC is backed by the presence of several end-use industries, rise in construction activities, and rapid economic growth. Moreover, China and India are predicted to drive the market, owing to the expanding industrial base in these countries. 

Based on the application, automobile and transportation, industrial machinery, healthcare, consumer products, and others are the categories of the high temperature elastomers market. In 2017, automobile and transportation held the largest sales volume share of more than 40.0% in the market. Automotive, transportation, and aerospace industries are increasingly using these elastomers, as these can survive extreme temperatures and have fine solvent and chemical resistance.

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High-temperature elastomers offer better heat-resistance of up to 200°C, enhanced seal integrity, high temperature stability, improved mechanical properties, extremely high performance, good chemical resistance, and excellent thermal resistance, compared to normal elastomers. These are used in many industries, such as transport, oil and gas, electrical, healthcare, and consumer goods, either independently or as an additive. For instance, in the transport sector, it is mainly used in the manufacturing of tires, specialty rubber, and seat covers. Thus, owing to the increasing demand for elastomers, which can withstand high temperatures, from these industries, the high temperature elastomers market is predicting to grow in the near future. 

Further, due to rapid urbanization and industrialization in developing countries, such as China and India, the high temperature elastomers market is expected to progress. These countries are expected to create various opportunities for the market players due to the growing industrial base. The growing construction activities and expanding automotive industry in these countries are escalating the demand for high-temperature elastomers, thereby resulting in growth opportunities for the market players in the present as well as future times. 

Hence, owing to the various applications of elastomers in different industries, the high temperature elastomers market is projected to flourish in the near future.

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Industrial Refrigeration Systems Market Driven by Growing Cold Chain Sector

The industrial refrigeration systems market is progressing due to the growing food and beverage processing domain in emerging economies and rising usage of such equipment in the chemicals and pharmaceuticals and cold chain industries. From $23,862.7 million in 2017, the market revenue is expected to increase to $33,614.3 million in 2023, at a 5.8% CAGR during the forecast period (2018–2023).

Such systems are generally larger compared to domestic-use models, as they are used to store significantly higher amounts of stuff. Condensers, compressors, controls, evaporators, and others are the various categories, on the basis of equipment type. Compressors are further divided into centrifugal, reciprocating, scroll, and screw.

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Among these, the reciprocating category led the industrial refrigeration systems market in 2017, with more than 32.0% share, in terms of value. Despite their high costs, these devices are preferred, as they create less heat and result in minimal energy wastage. Additionally, they find wide application in chemical factories and oil refineries.

During the forecast period, Asia-Pacific (APAC) is projected to experience the fastest growth in the market, in terms of value, due to the expansion of the cold chain, with the major chunk of the industry revenue coming from meats, seafood, ice creams, and vegetables.

In the coming years, these systems are expected to witness the fastest growth in demand by the chemicals & pharmaceuticals industry due to the rising requirement for pharmaceuticals across the globe, especially from the African region, as the countries in this region lack proper pharmaceutical industry setup. Due to this, the industrial refrigeration systems market is expected to register a 5.8% CAGR, generating $33.6 billion revenue, in the near future.

In addition, the processed food niche is also prospering in the region, with the demand for several traditional Asian food products rising in North America and Europe. This is leading to an increase in the international food trade, thereby driving the market.

Therefore, it is clear that the major driving factor for the market would be the need to effectively store and transport perishable items.

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What are the 3D printing materials driving sellers quality through SWOT and PESTEL consider?

In 2017, the 3D printing materials market generated $558.4 million and is expected to attain $1,365.6 million by 2023, advancing at a 16.7% CAGR during 2018–2023. The market is growing due to the enabling of mass customization due to 3D printing, growing demand for automobiles in emerging nations, and rising use of 3D printing in the manufacturing sector. The materials that are used in the 3D printing process, which involves the of printing 3D objects with help of sequential layers of materials, such as ceramics, plastics, and metals, are called 3D printing materials. 

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On the basis of form, the 3D printing materials market is divided into filament, liquid, and powder. Among these, filaments dominated the market during the historical period (2013–2017), accounting for a share of over 50.0% in 2017, in terms of volume. Due to their superior properties, including high density, excellent layer adhesion, wrap resistance, and reduced shrinkage, polylactic acid and acrylonitrile butadiene styrene are the most extensively utilized filaments in 3D printing. The division is further projected to contribute the largest share to the market during the forecast period. 

A key factor driving the growth of the 3D printing materials market is the growing use of 3D printing in the manufacturing sector. Various manufacturing companies are focusing on integrating additive manufacturing into their processes for better and fast results. Till now, a large number of companies were using 3D printing more for prototyping, which is considered the most popular application of 3D printing. However, medical & dental and aerospace & defense have started employing the technology for full-scale production processes, rather than just prototyping, as well. 

When application is taken into consideration, the 3D printing materials market is categorized into consumer goods, medical & dental, automotive, aerospace & defense, and others (which include electronics, jewelry, architecture, fashion, art & sculpture, and food). Out of these, the aerospace & defense application accounted for over 35.0% share of the market in 2017, in terms of value. The most expensive material utilized in 3D printing, titanium is primarily used in the aerospace & defense application, which results in highest revenue contribution to the market. 

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The enabling of mass customization due to 3D printing is another factor which is resulting in the growth of the 3D printing materials market. The production of customized goods in order to meet the demand of customers is called mass customization. The several advantages of mass customization include added value to goods, unique user experience, and collection of clients’ data. The use of 3D printing for mass customization removes any additional cost, as the process does not involve specific tooling and initial cost of mold, which are required for traditional manufacturing techniques. 

The adoption of 3D printing in the education sector is a major trend in the 3D printing materials market. The concept of 3D printing is being increasingly adopted in the education sector as it allows students to explore new ideas and design basic 3D shaped on tablets. Different schools have started integrating 3D printing technologies in their curriculum, as it will help enhance the creativity of students and allow them to test ideas in real space. This is further predicted to enhance the quality of education provided in different educational institutions. 

Hence, the market is growing considerably due to the enabling of mass customization because of 3D printing and the increasing usage of 3D printing in the manufacturing sector.

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Rising Product Demand from Oil & Gas Industry Driving Metering Pump Market Growth Globally

In 2018, the global metering pump market generated a revenue of $4.2 billion and is projected to witness a 6.0% CAGR during the forecast period (2019–2024). The market is growing due to the rising demand from the oil & gas industry, strict government regulations regarding water treatment, and growing demand from the chemical industry.

A metering pump is utilized for moving precise volumes of fluids (chemicals, solutions, and water) in a specified period of time and at an adjustable volumetric flow rate.

When type is taken into consideration, the metering pump market is divided into piston, diaphragm, and others (which include peristaltic pumps and syringe pumps). Out of these, the largest share of the market was occupied by diaphragm pumps during the historical period (2014–2018), both in terms of value and volume.

The division is further bifurcated into metallic and polytetrafluoroethylene (PTFE). The category of PTFE is predicted to hold the larger share of the market and grow at the faster pace during the forecast period, as PTFE pumps are cheaper than metallic pumps.

On the basis of end user, this market is categorized into petrochemicals, chemical processing, pharmaceuticals, pulp & paper, water treatment, oil & gas, food & beverage, and others (which include mining, construction, textiles, and agriculture).

Based on region, the metering pump market is categorized into Europe, Latin America, Asia-Pacific (APAC), Middle East & Africa, and North America. During the historical period (2014–2018), the largest share in the market, in terms of revenue, was accumulated by the APAC region

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Among these, the water treatment category accounted for the major share of the market during the historical period and is further predicted to retain its position during the forecast period. Metering pumps are utilized in wastewater treatment and municipal drinking water treatment applications for making water suitable for disposal or reuse.

Therefore, the market for metering pumps is headed toward a bright future due to the increasing exploration activities for CBM and oil & gas.

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Growing Smartphone Penetration Accelerating Organic Light-Emitting Diode (OLED) Market Advance

Surging disposable income, increasing sales of smartphones, and rising demand for organic light-emitting diode (OLED) materials from the automotive industry are the key factors driving the growth of the OLED materials market. In 2016, the market generated a revenue of $6,000.0 million, and it is predicted to progress at a CAGR of 24.5% during the forecast period (2017–2023). OLED consists of an emissive electroluminescent layer, including an organic compound film, which emits light in reply to an electric current. 

On the basis of type, the OLED materials market is categorized into electron transport layer (ETL), cathode, hole injection layer (HIL), emissive layer (EML), substrates, and encapsulation. Out of these, in 2016, the substrates category held the largest revenue share of more than 25.0% in the market, and it is predicted to continue leading it during the forecast period. Owing to their easy availability, these are the most preferred diodes in semiconductor foundries. Substrates are electrical insulators and semiconductors used in diodes and transistors. 

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Based on application, the OLED materials market is bifurcated into lighting and display. Of the two, in 2016, the display application made a revenue contribution exceeding 90.0% to the market, and it is anticipated to dominate it during 2017–2023 as well. This is ascribed to the rising manufacturing of television and smartphone displays. The display application is further classified into smartphones, automotive, notebooks and tablets, and television and monitors, among which the smartphones classification led the market, owing to the increasing use of such devices among young and aged people. 

The OLED technology is speedily evolving, and the enhancements have improved the display screen in TVs, cameras, and mobile phones. Growing usage of OLED materials in smartphones is augmenting the OLED materials market growth. As per industry professionals, in 2017, the global smartphone shipments showed an increase of 3.7% in the first quarter. Brands from China such as Huawei, OPPO, and Vivo had already earned a significant market share with considerable growth in 2017. This was due to their ability to offer low-priced products, particularly for India and other developing markets. 

OLED is a lighting and display technology used to produce thin, efficient, and bright lighting panels and displays. OLEDs are transparent and flexible, and thus have a wide application range. In the automotive sector, OLED displays are integrated in internal and external lighting, dashboard and heads up displays, and digital rear-view internal mirrors. One of the challenges faced by the automotive sector with respect to OLED displays is their inhibited ability to withstand heat, humidity, cold, constant vibration, and UV radiation, to which hermetically encapsulated OLEDs offer a reliable solution. 

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Further, the rising disposable income is another factor boosting the OLED materials market. In the past few years, in China, the disposable income has risen by a considerable amount. A higher consumer income leads to increasing spending on leisure, entertainment activities, and electronic devices, such as laptops, smartphones, tablets, and gaming consoles. Further, the growing awareness on internet and smartphone usage is boosting the sales of such consumer electronics. Thus, the increasing popularity of smartphones is anticipated to escalate the consumption of OLED materials, thereby resulting in the market progress during the forecast period. 

Therefore, the accelerating sales of smartphones, rising demand for OLED materials in different products, and extensive OLED application in the automotive sector are predicted to strengthen the market.

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Rising Inclination of Government Toward Digital Transformation Driving Government Cloud Market

The global government cloud market generated a revenue of $20.8 billion and is expected to register a 15.4% CAGR during the forecast period (2017–2023). The market is growing due to the increasing inclination of government toward digital transformation, reduction in total cost of ownership (TCO), and government cloud enabling improved agility and adaptability. The advanced cloud computing solutions which are majorly developed for government organizations and institutions are referred to as government cloud. The solutions focus on the hosting of critical and bulk agency’s data onto cloud. 

When product is taken into consideration, the government cloud market is bifurcated into service and product. Between these two, the market was dominated by the product classification during the historical period (2013–2016). In terms of product, the market is divided into disaster recovery (DR), risk & compliance (RCM), storage, identity & access management (IAM), and others (which include work load management and security). The storage division held the largest share of the market during the historical and is predicted to dominate the market during the forecast period. The increased reduction in TCO is a major driving factor of the government cloud market. The government sector is always under intense pressure to cut down capital expenditure without undercutting critical public services. Factors such as labor optimization, measured services, asset utilization, and facilities consolidation are the major aspects due to which different agencies are adopting government cloud. Government institutions are being attracted toward cloud computing by estimating the total savings that comes from consolidating their data centers.

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The rising government inclination toward digital transformation is another factor driving the growth of the government cloud market. The ongoing trend of digital transformation has positively impacted the government sector for adopting new cloud computing technologies. For example, the Obama administration’s “Cloud First” initiative kicked off the mainstream implementation of government cloud, which has further attracted other central/federal agencies to opt for digital solutions and ramp up their traditional data centers. Hence, the effort for streamlining government’s inefficient technology infrastructure is creating huge demand for government specific cloud offerings in the last few years.

A key trend being observed in the government cloud market is the surging big data in the government industry. Big data in the government sector facilitates effective decision making with enhanced administration. Huge amount of public data is being generated on a daily basis due to the surging population around the world and the digital transformation of the government industry. By making use of this big data, governments can enable breakthroughs in several management programs, where they can use the best available public information and modify or update citizen welfare policies as per data patterns.

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Rising Water Contamination Leading to the Growth of the Flocculants and Coagulants Market

Rising water pollution levels and increasing incidents of water-borne diseases are driving the growth of the flocculants and coagulants market. Globally, the market is expected to reach $14,225.3 million by 2023, providing huge opportunities to manufacturers and suppliers of flocculants and coagulants. Coagulants destabilize a colloid by neutralizing the charged particles. On the other hand, flocculants bring these destabilized particles together, so these form a lump or floc that can be easily removed from water. These are the two categories of the domain when segmented by type. 

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The problem of water pollution is as old as human existence itself. We need water for every basic life process, from drinking, cooking, and agriculture to bathing and washing. However, almost every water source available today is contaminated, especially in developing countries. This is the reason water and sewage treatment has become the need of the hour. Consequently, the flocculants and coagulants market has grown rapidly around the world. Both these substances recorded almost equal sales across the world in 2017, with flocculants edging out coagulants. The forecast period 2018–2023 is expected to display the same trend. 

The APAC utilizes flocculants and coagulants more than other regions owing to an acute water pollution problem. The difference in the 2017 sales of these substances in APAC and North America was over 1500 kilotons, hinting that the flocculants and coagulants market has prospered more in developing countries. The consumption of these materials in the APAC region in the coming years is slated to be almost triple compared to North America! A reason for this is the shift from simple chemicals like alum to more advanced substances, as these are better at the process and also more cost-effective. 

Another factor that cannot be ignored is the rise in the occurrence and awareness about waterborne disease. As most water sources in the APAC countries are contaminated, the demand for flocculants and coagulants for water treatment is increasing rapidly. Although the availability of alternative technologies, such as UV irradiation and membrane filtration, might impede the growth of the flocculants and coagulants market to some extent, these are rather expensive and quite complicated to use. 

Countries going through industrialization will offer huge opportunities to the flocculants and coagulants market players, as more industries mean more effluents being discharged into rivers and seas. Players are already preparing to deal with the demand surge by acquiring or merging with related firms, expanding their manufacturing capacities and coming up with more effective substances. For instance, Akzo Nobel N.V. and Evonik Industries AG entered into a joint venture in 2018 to increase their potassium hydroxide and chlorine production exponentially. 

With an unceasing surge in population and industrialization and the consequent rise in demand for clean water, the size of the industry is only slated to grow.

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