#Aviation Maintenance Chemicals Market

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Top 15 Market Players in Global Aviation Maintenance Chemicals Market

Top 15 Market Players in Global Aviation Maintenance Chemicals Market

The aviation maintenance chemicals market has experienced significant growth, driven by the expanding aviation industry and the increasing demand for aircraft maintenance and servicing. Below are some of the top companies shaping the global aviation maintenance chemicals market:

BASF SE A leading chemical manufacturer, BASF SE provides advanced solutions for cleaning, corrosion inhibition, and surface treatment in aviation.

3M Company Known for its innovative chemical solutions, 3M offers a wide range of aircraft maintenance products such as adhesives, sealants, and surface protectants.

ExxonMobil Corporation ExxonMobil specializes in aviation lubricants, hydraulic fluids, and other essential chemicals for aircraft maintenance.

Arrow Solutions Focused on aviation-specific products, Arrow Solutions is a trusted supplier of cleaning agents, degreasers, and corrosion inhibitors.

The Dow Chemical Company Dow offers a variety of high-performance chemicals tailored for cleaning, de-icing, and surface coating applications in the aviation sector.

Henkel AG & Co. KGaA Henkel's product portfolio includes advanced adhesives, sealants, and coatings specifically designed for aviation maintenance.

Eastman Chemical Company Eastman is a key player in the production of aviation hydraulic fluids, engine oils, and cleaning chemicals.

PPG Industries, Inc. PPG specializes in coatings, sealants, and other maintenance products for both commercial and military aircraft.

Shell Aviation A global leader in aviation fuels and lubricants, Shell also offers a range of aircraft maintenance chemicals.

Callington Haven This company provides innovative solutions for aircraft cleaning, disinfection, and corrosion control.

Chemetall GmbH (A BASF Company) Chemetall delivers cutting-edge technologies for surface treatment and cleaning in the aviation sector.

Klüber Lubrication Klüber focuses on aviation-specific lubricants and specialty chemicals for enhanced performance and safety.

Rochester Midland Corporation Known for its environmentally friendly products, Rochester Midland supplies cleaning agents and maintenance chemicals for aviation.

Celeste Industries Corporation Celeste offers customized solutions for aircraft cleaning and cabin hygiene.

Zep Aviation Products Zep specializes in cleaning and maintenance chemicals that cater to various aircraft surfaces and components.

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Top Winning Strategies in Aviation Maintenance Chemicals Market

The competitive landscape of the aviation maintenance chemicals market is shaped by several winning strategies adopted by leading players. Here are the key approaches driving success in this industry:

Product Innovation Continuous R&D efforts to develop eco-friendly and high-performance chemicals have become a priority for market leaders.

Strategic Partnerships Collaborations with airlines, MRO (maintenance, repair, and overhaul) companies, and OEMs (original equipment manufacturers) help expand market reach.

Regional Expansion Companies are focusing on expanding their operations in emerging markets such as Asia-Pacific and the Middle East to tap into growing aviation demand.

Sustainability Initiatives The adoption of green chemistry and sustainable manufacturing practices is gaining momentum, driven by regulatory pressures and customer preferences.

Custom Solutions Offering tailor-made products for specific maintenance needs helps companies differentiate themselves in the market.

Technological Advancements Integration of technologies like predictive analytics and IoT-enabled maintenance solutions enhances the effectiveness of chemical applications.

Mergers and Acquisitions Strategic acquisitions allow companies to strengthen their product portfolios and expand their market presence.

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[adalidda]

Illustration Photo: Sugarcane is one of the most efficient producers of biomass of all plant species and can be used as a renewable fuel. The new variety  Ho 06-9002 has a high fiber content, excellent regrowth ability over 4 to 5 years, is cold-tolerant, has a high stalk population, and produces excellent biomass yields. (credits: USDA Media by Lance Cheung / Public domain)

Repsol Entrepreneurs Fund for Startups in the Energy Transition

At the Repsol Foundation, we have been supporting entrepreneurship and entrepreneurs for more than 10 years through Fondo de Emprendedores, our accelerator for start-ups that provide technological solutions to meet the challenges of the Energy Transition. This is a perfect program for start-ups in the testing phase with real customers, or that will reach this phase in 1–2 years.

This program aims to accelerate startups working in any of the following:

SCOPE 1: LOW-CARBON ENERGY TECHNOLOGIES AND CIRCULAR ECONOMY 1. Recycling and treatment technologies: conversion of biomass, new processes for converting waste into chemical products 2. Biogas production, upgrading, transport and end use technologies 3. Low environmental impact H2 renewable solutions for production, blending, transport and storage 4. Advanced biofuel production and conversion technologies (liquefaction or de novo, gasification) and synthetic fuels for road, maritime and aviation transport 5. Processing of chemicals and other organic materials for circular economy 6. Low-carbon lubricants for industrial and automotive applications 7. CO2 Capture, Use and/or Storage Technologies. CO2 Direct Air Capture: new absorbent materials and efficient process design 8. COX, H2 conversion processes to Hydrocarbons 9. Low carbon technologies for Oil & Gas operations, including energy efficiency, GHG direct emissions (scopes 1 and 2), Methane emissions, CCS or Geothermal. 10. Other technologies related to this scope’s heading

SCOPE 2: BIOTECHNOLOGY AND NANOTECHNOLOGY FOR SUSTAINABLE SOLUTIONS 1. Bio conversion of organic material to chemicals. Biorefinery, biofactory 2. Protein engineering, development of biocatalysts and enzymes 3. Gene editing technologies and applications in energy and materials 4. Plastic biodegradation technologies 5. Biosensors design, production and end use. 6. Anti-corrosive, anti-bacterial, thermal nanocoating for pipelines and infrastructures 7. Organic and inorganic membrane technologies, including new materials 8. Improvement of the properties of fuels, lubricants and chemicals 9. Other technologies related to this scope’s heading

SCOPE 3: PRODUCTS AND SERVICES BASED ON ENERGY MANAGEMENT AND RENEWABLES 1. Intelligent energy management systems 2. New batteries and fuel cells technologies 3. Distributed energy solutions 4. Energy conversion and storage systems 5. Advanced mobility solutions 6. Renewable energy generation, maintenance and control and commercialization. 7. Other technologies related to this scope’s heading

SCOPE 4: DIGITAL TECHNOLOGIES FOR THE ENERGY SECTOR 1. Artificial intelligence applied to process optimization and energy efficiency. 2. Digital twins and intelligent interfaces for process control 3. Digital technologies for predictive and prescriptive maintenance 4. Smart trading for the energy marketplace 5. Computational chemistry tools for energy applications 6. Remote sensing, IoT and robotic solutions for industrial assets and environment 7. Quantum computing applications in energy sector 8. Other technologies related to this scope’s heading SCOPE 5: NATURAL SOLUTIONS FOR CARBON FOOTPRINT REDUCTION 1. Reforestation and afforestation technologies for resilient CO2 absorption sinks 2. Advanced monitoring, reporting and verification technologies in CO2 absorption 3. Digital technologies applied to carbon markets value chain 4. Technologies for ESG (Environmental, Social and Governance) project certification 5. Other technologies related to this scope’s heading

Startups admitted to the Program will receive during the acceleration period a contribution of FIVE THOUSAND EUROS (€ 5,000) per month as ordinary funds. Additionally, admitted Startups may request up to a maximum of FORTY THOUSAND EUROS (€ 40,000) per year as extraordinary funds for strategic expenses to achieve the milestones of the Work Plan (as defined in section 4.4), mainly to complete the pilot test. The disbursement of this additional contribution will be subject to the exclusive decision of Fundación Repsol.

Application Deadline: March 10, 2023

Check more https://adalidda.com/posts/c4qmPwNwToZAAbf2L/repsol-entrepreneurs-fund-for-startups-in-the-energy/call

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Aviation Lubricant Market — Forecast(2024–2030)

Aviation Lubricant Market Overview

Aviation Lubricants are the chemical compounds that provide a fluid barrier between various parts of an aircraft and are used as engine oil, hydraulic fluid, piston engine oil and grease, etc. in aircraft. Hence, these lubricants are either mineral-based which is derived from crude oil, or synthetic-based derived from petroleum, but the most common lubricants used in aircraft are calcium sulfonate and perfluoropolyether which are both synthetic based. Hence drivers for the aviation lubricant market include an increase in the volume of air passenger traffic, an increase in the number of air fleets by airlines, increase in usage of effective aircraft engines such as turbofans engine. However, the major challenge in the aviation lubricant market is that, as the aviation lubricants are derived from crude oil, hence the fluctuating price of crude oil disrupts the manufacturing of lubricants. Hence such disruptions caused by price fluctuation have hampered the growth of the aviation lubricant industry.

As sustainability gains prominence, the aviation lubricant market is witnessing a notable shift towards bio-based lubricants. Manufacturers are increasingly investing in research and development to formulate lubricants derived from renewable resources, reducing environmental impact and meeting stringent regulatory requirements. The aviation lubricant market is experiencing a surge in demand for advanced synthetic lubricants. These high-performance formulations offer superior stability, thermal resistance, and extended service intervals, contributing to enhanced aircraft efficiency and reduced maintenance costs.

COVID-19 Impact

COVID-19 pandemic had negatively impacted the aviation lubricant market on a global level, as the restrictions and lockdown imposed by governments all across the globe caused a shortage of labor, decrease in the supply of spare parts due to import-exports restriction, and shutdown of various production plants. Hence all this hampered the productivity of the aerospace sector and reduced the demand for new aircraft. For instance, as per the 2021 report of the General Aviation Manufacturers Association, the Global business jet deliveries declined 20.4% to 644 aircraft in 2020 due to the COVID-19 pandemic. As per the 2021 finance report of Boeing, the company saw 40% less funding towards new aircraft deliveries in 2020 compared to 2019, and also the company reduced production of aircrafts 787s & 777s while halting production of 737max. Reduction in the demand and production of new aircraft and halting of maintenance work due to labor shortage reduced the demand for lubricants like grease, engine oil, hydraulic fluids that are used in such aircraft. Hence such reductions in demand negatively impacted the growth of the aviation lubricant industry. However, the industry slowly recovered from the pandemic through government support, debt sales, and cost reduction actions.

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Report Coverage

The report: “Aviation Lubricant Market — Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aviation Lubricant Industry.

By Product Type — Grease, Hydraulic fluid, Engine Oil, Turbine Oil, Cum Pressure Oil, Special Lubricant & Additives, Others

By Lubricant Type — Synthetic, Mineral based

By Aviation Type — Commercial, Military, General, Helicopter, Others

By Application Type — Hydraulic system, Engine, Landing gear, Airframe, others

By End User — Original Equipment Manufacturer (Engine cases, Combustor Components, Bearing Housing, Vanes, Manifold, Shaft nuts & gears, Others), Maintenance Repair Overhaul (Rotating components, Stationary seals, Frame & Casings)

By Geography — North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa).

Key Takeaways

• Investments in new-generation aircraft especially in the commercial aircraft segment are continuously growing especially in developing markets such as India. Hence with such an increase in investments in aircraft, the demand for lubricants to be used in them will also increase.

• Liquid lubricant is pumped throughout the engine to the parts that require lubrication and reduction of friction during engine performance increase the potential power output. Hence due to reason lubricants have high applicability in aircraft engines.

• North America dominates the aviation lubricant market as the region has U.S and Canada is one of the major aircraft manufacturing countries showing a significant increase in their air commute, new orders for aircraft and components.

Aviation Lubricant Market Segment — By Product

Engine oil held the largest share in the aviation lubricant market in 2023, with a share of over 40%. This owns to factors like high consumption of engine oil during the flight hours as they can be circulated readily and when engine parts are in constant friction the engine oil lubricates them and prevents wear & tear of parts. The increasing usage of advanced engines like turbofan engines in aircraft has positively impacted the demand for engine oil in them. For instance, in July 2023, the deal for LEAP engines, which will power Air India’s future fleet of 210 Airbus A320/A321neos and 190 Boeing 737 MAX family aircraft, has been finalized by Air India and CFM International. A multi-year services agreement covering the airline’s whole fleet of LEAP engines was also signed by both businesses. Hence with the usage of such advanced engines, the demand for efficient engine oil like synthetic-based oil that would enable these engines to function well at high temperatures will also increase. Such an increase in engine oil usage will create more demand for aviation lubricants, thereby positively impacting the growth of the aviation lubricant industry.

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Aviation Lubricant Market Segment — By Lubricant Type

Synthetic lubricant held the largest share in the aviation lubricant market in 2023, with a share of over 35%. This owns to factors like synthetic lubricants like perfluoropolyether and calcium sulfonate provides good thermal-oxidative stability, good deposit control capability and due to low volatility provides superior performance. Hence synthetic lubricants enable jet engines to operate at high temperatures. With the airline companies increasing their aircraft strength to meet the increasing traveling scale of air passengers, hence the necessary amount of lubrication would be required to keep such aircraft in working condition. For instance, in February 2023, the most anticipated airplane of the upcoming years is without a doubt the Airbus A321XLR. With an early 2024 aim for entering service, the European behemoth is presently awaiting certification for the narrowbody. With over 550 orders placed by 26 clients, the XLR is still very popular even though the pandemic threatens to slow things down. Hence with such an increase in the demand for aircraft from major airline companies the demand for high-performance synthetic lubricants like perfluoropolyether will also increase.

Aviation Lubricant Market Segment — By Aviation Type

Commercial aviation held the largest share in the aviation lubricant market in 2023, with a share of over 45%. This owns to factors like increase in the production rate of heavy aircraft commercial airliners in major aircraft manufacturers like Airbus, Raytheon Technologies, United Aircraft Corporation, Boeing, etc. owing to an increase in domestic and international traveling volume, especially in emerging economies like India. For instance, in January 2023, Airbus SE recorded 1,078 gross new orders in 2022 and delivered 661 commercial aircraft to 84 customers. By December 2022, Airbus had 7,239 aircraft on backorder. Hence with the increase in the demand for a commercial airliner, the demand for effective lubricants like calcium sulfonate which is used in engine oil, transmission fluids, gear oil, etc. will also increase. thereby showing a positive impact on the aviation lubricant market.

Aviation Lubricant Market Segment — By Application

The engine held the largest share in the aviation lubricant market in 2023, with a share of over 35%. With commercial air transport rapidly developing in various emerging markets like China, India, etc. the demand for new and efficient aircraft models has increased. Hence this has raised the demand for an efficient engine like turbo engines that would be used in these aircraft. For instance, in July 2023, Air India recently finalized orders with the engine manufacturer for over 800 LEAP engines to power its new fleet of 210 Airbus A320neo/A321neo and 190 Boeing 737 MAX family jetliners, strengthening CFM International’s market position in India. Hence as the usage of advanced LEAP engines increases, the demand for lubricants like engine oil and grease will also increase, thereby increasing the demand for the aviation lubricant market in this segment of the application.

Aviation Lubricant Market Segment — By End User

Maintenance repair overhaul held the largest share in the aviation lubricant market in 2023, with a share of over 40%. The maintenance work consists of base maintenance, line maintenance, and different level checks which an aircraft goes through during its lifetime. To ensure that the aircraft flies efficiently without facing any issues, maintenance work is considered a necessary step. Hence this has led to the creation of agreements between aircraft companies and manufacturers. For instance, in October 2023, Cyprus Airways has chosen Airbus’ Flight Hour Services (FHS) to support their A220 Family aircraft, making Airbus the third European FHS customer for an A220 fleet and the sixth FHS contract for an A220 globally, the company revealed. Hence as the maintenance contract of such major aircraft manufacturers increases, this would lead to an increase in usage of lubricants used during the maintenance work. Hence such an increase in usage will positively impact demand for aviation lubricants in such aircraft manufacturers.

Aviation Lubricant Market Segment — By Geography

North America held the largest share in the aviation lubricant market in 2023, with a share of over 30%. This owns to factor like the region being a hub for major aircraft manufacturing companies like Boeing, Embraer in U.S and Bombardier in Canada, and also the region consists one of the largest shares of the world domestics passengers. For instance, in September 2023. As per Airports Council International, It is projected that the North American region will have 2.0 billion passengers by the end of 2023, or 99.8% of the 2019 level, which is close to the 2019 level. Despite the fact that domestic travel drove the region’s robust rebound in 2021 and 2022. Hence with a growing number of airline passengers, the demand for more aircraft especially commercial aircraft has increased which has positively impacted the demand for aviation lubricants in the U.S and Canadian aviation market.

Aviation Lubricant Market Drivers

Increase in volume of aircraft production

Hence with the increase in demand for defense & commercial aircraft and their components in regions like Europe & North America has led to an increase in the production volume of major aircraft manufacturers like Airbus & Boeing. For instance, in February 2023, the ramp-up trajectory for the A320 Family program has been modified in collaboration with suppliers. Moreover, the company is currently working toward producing 65 aircraft per month by the end of 2024 and 75 aircraft per month by the end of 2026. As anticipated, the monthly manufacturing rate of A330 reached about 3 by the end of 2022, and the company is now aiming for rate 4 by 2024. There are currently six airplanes every month for the A350. After a feasibility analysis with the supply chain and in order to fulfill the increasing demand for widebody aircraft as international air travel recovers, the company is now aiming for a monthly production rate of nine A350s by the end of 2025. Hence with such an increase in the production of major aircraft manufacturers, the aviation lubricant like perfluoropolyether to be used in them would also increase thereby positively impacting the aviation lubricant industry in terms of lubricant demands.

Increase in usage of turbofan engines

Modern engines in terms of reliability and efficiency depend directly on the effectiveness of the lubricating system. lubrication is responsible for cooling internal parts of the engine which are acting relative to each other creating friction and heat which results in overheating. The introduction of advanced turbofans engines by major aircraft engine manufacturers like CFM International, Pratt & Whitney, Rolls Royce, etc. has increased their demand by airline companies for their aircraft. For instance, in September 2022, Williams’ turbofan engine fleet, which includes about 7,000 FJ44 and FJ33 engines, has accumulated more than 18 million flying hours. The engines are installed on a range of airframes, including the Cessna CJ series, Beechcraft Premier, Cirrus SF50, and Nextant reconditioned light jets. Hence the increase in demand for such advanced turbofan engines has positively impacted the demand for aviation lubricants such as calcium sulfonate which would be used as grease, hydraulic fluids in such engines.

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Aviation Lubricant Market Challenges

The fluctuating price of crude oil

Lubricant oil is extracted from crude oil after going through a series of processes like sedimentation, fractioning, hence the lube oil collected after these processes is mixed with additives to create base oil which is used in the manufacturing of aviation lubricants like engine oil, piston oil, etc. Hence the price of crude oil keeps fluctuating due to geopolitical, whether or supply chain mishap reasons which disrupt the flow of crude oil to markets. Such disruption leads to irregular production of lubricants thereby causing a misbalance between demand and supply of lubricants. As per the U.S. Energy Information Administration, In 2023, the average price of Brent crude oil was $83 per barrel (b), a $19/b difference after rounding. In 2022, the price was $101/b. With Russia’s crude oil finding homes outside of the EU, global markets adjusted to the new trade dynamics, and demand for crude oil fell short of projections worldwide. Such a decrease in crude oil demand reduced the lubricant output for aircraft thereby negatively impacting the aviation lubricant market.

Aviation Lubricant Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Aviation Lubricant’s top 10 companies include:

1. Total Group

2. Exxon Mobil Corporation

3. Royal Dutch Shell Plc.

4. Eastman Chemical Company

5. The Chemours Company

6. The Phillips 66 Company

7. NYCO

8. Lukoil

9. Aerospace Lubricant Inc

10. Nye Lubricants

[shubhampawrainfinium]

Stay Safe This Winter: Unveiling the Power of Anti-icing Coatings

The global anti-icing coating market is witnessing remarkable growth, projected to expand at a compound annual growth rate (CAGR) of 25% from 2022 to 2028. Valued at nearly USD 1,000 million in 2022, the market is expected to reach approximately USD 3,800 million by 2028. This growth is driven by increasing demand for advanced surface solutions across various industries to enhance safety and operational efficiency during winter conditions.

What are Anti-Icing Coatings?

Anti-icing coatings are specialized materials applied to surfaces to prevent the accumulation of ice and snow. These coatings utilize innovative chemical formulations to create a surface that inhibits the adhesion of ice, ensuring safe operations in harsh weather conditions. Applications range from transportation infrastructure, such as roads and bridges, to aircraft, solar panels, and wind turbines.

Get Sample pages of Report: https://www.infiniumglobalresearch.com/reports/sample-request/12822

Market Dynamics and Growth Drivers

Several factors contribute to the rapid growth of the anti-icing coating market:

Rising Demand for Winter Safety Solutions: The increasing frequency and intensity of winter weather events globally have heightened the need for effective anti-icing solutions to enhance safety in transportation and infrastructure. This demand is particularly significant in regions prone to severe winters.

Advancements in Coating Technology: Continuous innovations in coating materials and formulations are enhancing the effectiveness and durability of anti-icing coatings. The development of nanotechnology-based coatings and smart materials is driving market growth by offering superior performance.

Growth in Transportation and Infrastructure: The expansion of transportation networks and infrastructure projects worldwide necessitates the implementation of anti-icing coatings to improve safety and reduce maintenance costs. This trend is particularly evident in cold-climate regions where ice accumulation poses significant challenges.

Increasing Adoption in Aviation: Anti-icing coatings are gaining traction in the aviation sector, where they are used to enhance aircraft performance and safety during winter operations. The ability to prevent ice buildup on critical components is essential for ensuring flight safety and operational efficiency.

Sustainability Focus: There is a growing emphasis on sustainable and environmentally friendly materials in various industries. Anti-icing coatings that reduce the need for chemical de-icing agents are becoming increasingly attractive, aligning with global sustainability goals.

Regional Analysis

North America: The North American anti-icing coating market is driven by the presence of significant snowfall and icy conditions, particularly in the northern U.S. and Canada. The demand for effective anti-icing solutions in transportation and infrastructure is a major growth factor.

Europe: Europe is experiencing robust growth in the anti-icing coating market due to its cold climate and extensive transportation networks. The region's focus on improving winter safety and infrastructure resilience is contributing to the market's expansion.

Asia-Pacific: The Asia-Pacific region is witnessing rapid industrialization and urbanization, leading to increased investments in transportation and infrastructure. Countries like China, Japan, and South Korea are adopting anti-icing coatings to address winter-related challenges.

Latin America and Middle East & Africa: While these regions may experience less severe winters, there is a growing awareness of the benefits of anti-icing coatings in improving safety and efficiency in critical infrastructure.

Competitive Landscape

The anti-icing coating market features several key players and innovative companies, including:

BASF SE: A leader in the development of advanced coatings, BASF offers a range of anti-icing solutions designed for various applications, including transportation and aerospace.

3M Company: Known for its innovation in materials science, 3M provides anti-icing coatings that enhance surface performance and safety in cold weather.

DuPont: DuPont's expertise in materials technology has led to the development of effective anti-icing coatings for various applications, focusing on performance and sustainability.

Hempel A/S: A global coatings company, Hempel offers anti-icing solutions for maritime, industrial, and infrastructure applications, focusing on durability and efficiency.

AkzoNobel: With a strong portfolio of advanced coatings, AkzoNobel is actively developing anti-icing solutions to enhance safety and efficiency across multiple sectors.

Report Overview : https://www.infiniumglobalresearch.com/reports/global-anti-icing-coating-market

Challenges and Opportunities

While the anti-icing coating market is poised for substantial growth, it faces challenges such as fluctuating raw material prices and the need for continuous innovation to meet evolving industry demands. Additionally, educating end-users about the benefits and applications of anti-icing coatings is essential for market penetration.

However, significant opportunities exist in the development of eco-friendly and sustainable anti-icing coatings. Companies that invest in research and development to create innovative solutions will be well-positioned to capture market share.

Conclusion

The global anti-icing coating market is set for impressive growth, driven by increasing demand for safety and efficiency in winter conditions. With an expected market value of approximately USD 3,800 million by 2028, the industry presents significant opportunities for innovation and investment. As advancements in coating technology continue to enhance performance and sustainability, anti-icing coatings will play a crucial role in improving safety and operational efficiency across various applications, particularly in transportation and infrastructure.

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The Fuel Storage Tank market is projected to grow from USD 15295 million in 2024 to an estimated USD 21918.1 million by 2032, with a compound annual growth rate (CAGR) of 4.6% from 2024 to 2032.The fuel storage tank market is a critical segment of the energy infrastructure, providing essential storage solutions for various types of fuel, including crude oil, gasoline, diesel, and other petroleum products. These tanks play a vital role in ensuring a steady supply of fuel, managing demand fluctuations, and maintaining energy security. With the increasing global energy demand and the growing focus on energy infrastructure development, the fuel storage tank market has witnessed significant growth in recent years. This article explores the key trends, drivers, challenges, and future prospects of the fuel storage tank market.

Browse the full  report at https://www.credenceresearch.com/report/fuel-storage-tank-market

Market Overview

Fuel storage tanks are containers designed to store fuel safely. These tanks come in various sizes and configurations, including underground, aboveground, and portable tanks. They are widely used across multiple industries, including oil and gas, chemical, automotive, and aviation, as well as by governments for strategic petroleum reserves. The market for fuel storage tanks is highly diversified, with applications ranging from small-scale storage solutions for individual consumers to large-scale storage facilities for industrial and commercial purposes.

Key Market Drivers

1. Rising Energy Demand: One of the primary drivers of the fuel storage tank market is the increasing global energy demand. As the world continues to industrialize and urbanize, the need for energy resources has surged. This has led to a growing demand for fuel storage solutions to ensure a continuous supply of energy.

2. Strategic Petroleum Reserves: Many countries maintain strategic petroleum reserves (SPR) to safeguard against supply disruptions. Governments around the world are investing in expanding their SPRs, driving the demand for large-scale fuel storage tanks. For example, the U.S., China, and India have been expanding their reserves in recent years, which has positively impacted the market.

3. Expansion of Refining Capacity: The expansion of refining capacities in emerging economies has created a significant demand for fuel storage tanks. As new refineries are built and existing ones are upgraded, the need for storage solutions to accommodate increased production volumes has grown.

4. Environmental Regulations: Stringent environmental regulations aimed at reducing emissions and preventing leaks are also driving the market. Compliance with these regulations often requires the installation of advanced storage tanks with leak detection and prevention systems.

Market Challenges

1. High Installation and Maintenance Costs: The installation and maintenance of fuel storage tanks can be expensive, particularly for large-scale facilities. The costs associated with construction, land acquisition, and regulatory compliance can be prohibitive for some market players, particularly in developing regions.

2. Environmental Concerns: Despite the critical role of fuel storage tanks, they pose significant environmental risks. Leaks and spills from storage tanks can lead to soil and water contamination, resulting in severe environmental damage and hefty fines for companies. This has led to increased scrutiny and regulatory pressure on tank operators.

3. Technological Advancements: The rapid pace of technological advancements in fuel storage solutions can be both an opportunity and a challenge. While new technologies offer improved safety and efficiency, they also require significant investment in research and development, which can be a barrier for smaller players in the market.

Future Outlook

The fuel storage tank market is poised for continued growth, driven by rising energy demand, strategic petroleum reserves, and the expansion of refining capacities. However, the market will also face challenges, including high costs, environmental concerns, and the need to keep pace with technological advancements. To stay competitive, market players will need to invest in innovation, comply with evolving regulations, and focus on sustainable practices.

Key Player Analysis:

Air Liquide

Belco

C&E Plastics Inc.

Cryolor

CST Industries

Enduraplas

Fuel Total Systems

GEI Works

Granby Industries

Haase Tank GmbH

Meridian Manufacturing Inc.

Sabre Manufacturing

Sintex

Textron

Western Global

Segmentation:

By Tank Type

Above-ground tanks

Underground tanks.

By Material Type

Steel,

Fiberglass,

Other materials.

By Tank Capacity

Small,

Medium,

Large tanks.

By End Use

Industrial,

Commercial,

Residential applications.

Based on the Region:

North America

US

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East and Africa

Browse the full  report at https://www.credenceresearch.com/report/fuel-storage-tank-market

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Contact:

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[industrynewsupdates]

Aircraft Tires Procurement Intelligence: Key Factors to Consider

The aircraft tires category is anticipated to grow at a CAGR of 5.5% from 2023 to 2030. The U.S. is the world's largest market, with a share of 40%, while Europe is the second largest with 33%. Michelin, Goodyear, Bridgestone, and Dunlop are among the leading manufacturers, accounting for approximately 85% of the market.

This category is driven by the demand for military aircraft, UAVs, and commercial planes. They experience wear and tear during takeoff, landing, and taxiing due to intense temperatures and pressures. The condition of the tires is influenced by a series of factors, e.g. weather, rough landing conditions, crossing winds, Antiskid braking actions, and rough runway surfaces, all leading to frequent tire replacement or retreading which leads to increased growth in this category.

RFID technology was implemented in the aircraft tire sector in 2021, allowing for efficient and automated tracking of tire information. Michelin introduced its "RFID-enabled Connected Tire" solution, which incorporates RFID tags embedded in the tires. This technology enables real-time monitoring of tire condition and performance, helping airlines and maintenance teams manage maintenance schedules, identify potential issues, and optimize tire usage. It improves operational efficiency, reduces manual data entry errors, and enhances safety and maintenance practices. The use of elastomers in tire manufacturing improves performance significantly. Tire rubber's chemical systems benefit from intermediates that give durability, flexibility, and reliable seal qualities that elastomers provide directly.

Business jets are adopting tubeless tires, which are expected to be adopted by commercial planes as well. Hence, the tubeless tire segment is expected to grow by 3.4% between 2022 and 2030. Furthermore, the usage of elastomers reduces tire maintenance costs while improving traction. Heat and cold resistance also improve, extending tire life and assisting in maintaining optimum inflation throughout temperature changes.

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

The Covid-19 pandemic has had a negative impact on the aviation tire industry, causing manufacturing to decline and export activities to shift to other modes of transportation. Even when the lockdown was relaxed, the production rate was not enough to meet demand.

This sector is dominated by Goodyear, Michelin, Dunlop Aircraft Tires, and Bridgestone, leading to an oligopolistic structure that controls 85% of the market share and accounts for most of the retread. The industry is subject to strict regulations and certifications to ensure safety and compliance with international standards. New entrants face high entry barriers due to the research and development required to meet stringent safety and performance standards. The procurement of this category requires consideration of several factors, such as tire size, load capacity, speed rating, aircraft type, and operational conditions and construction

Natural and synthetic rubber are the primary raw materials used in the production of aircraft tires. The raw materials account for around 65 % to 75 % of the production costs, with natural and synthetic rubber as major raw materials. Tires used in commercial planes cost USD 1,200 to USD 5,500. Commercial aircraft tires, on the other hand, are more difficult to locate in a distributor's store. The majority of airlines have long-standing relationships with tire manufacturers. These agreements allow manufacturers to subsidize the cost of each tire unit. Airlines and tire manufacturers have a lease agreement under which the manufacturer owns the tires and the airline pays for each landing cycle. The manufacturer also covers all necessary maintenance costs under this agreement. 

Browse through Grand View Research’s collection of procurement intelligence studies:

• Bearings Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Conveyor Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Aircraft Tires Procurement Intelligence Report scope 

• Aircraft Tires Category Growth Rate: CAGR of 5.5% from 2023 to 2030

• Pricing Growth Outlook: 6 - 8%

• Pricing Models: Volume-based pricing model, spot pricing model

• Supplier Selection Scope: Quality and Reliability, Cost and pricing, Past engagements, Productivity, Geographical presence

• Supplier selection criteria: Product Range and Compatibility, Manufacturing Capacity and Facilities, Sustainability and Environmental Responsibility, technical specifications, operational capabilities, regulatory standards and mandates, category innovations, and others.

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

• Michelin

• Goodyear

• Bridgestone

• Dunlop

• Safran

• Honeywell Internationalc

• Meggit

• GKN Aerospace

• Rosen Aviation

Brief about Pipeline by Grand View Research:

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

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

[robertemma27-blog]

Valves Poised for Major Growth Opportunities in the Hydrogen Economy

The hydrogen economy is an emerging concept that envisions hydrogen playing a key role alongside renewable electricity to reduce greenhouse gas emissions and achieve a sustainable energy future. While most hydrogen today is produced from natural gas, emitting CO2 in the process, the goal is to transition to low-carbon hydrogen made using renewable power or natural gas with carbon capture.

Hydrogen holds the potential to decarbonize sectors that are challenging to electrify, including heavy industry, long-distance transportation, and long-term energy storage. In heavy industry, hydrogen could replace fossil fuels in high-temperature processes, serve as a feedstock for green ammonia and chemicals, and potentially replace coal in steelmaking. Hydrogen is envisioned for transportation in shipping, aviation, and heavy trucks via hydrogen-derived synthetic fuels and fuel cell technology.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=27538308

Role of Valve in Hydrogen Economy

Valves play a crucial role in the hydrogen economy by ensuring the safe and efficient handling of hydrogen gas. Hydrogen valves are engineered to endure the distinctive characteristics of hydrogen, such as its low density and high diffusivity. They are used throughout the hydrogen value chain, from production and transportation to end-use applications. Emerson's Fisher control valves have been used in a variety of hydrogen applications, gaseous as well as liquid. Control valve designs are available for cryogenic to high-temperature hydrogen applications from ANSI CL150-2500 with higher pressures possible depending on the application. These control valves are designed to be used in any blend application from low natural gas blend rate to 100% hydrogen. One of the key considerations in designing hydrogen valves is the operating pressure. Valves used in hydrogen applications can be subjected to extremely high pressures, ranging from 413 bar for high-pressure ball valves to even higher pressures in specialized applications. To ensure safety and reliability, these valves must be made from materials compatible with hydrogen and can withstand the expected temperatures and pressures without leaking or deformation.

Below are the typical conditions that a hydrogen valve should have:

Pressures: H2 must be stored in on-vehicle tanks at pressures ranging from 350 to 700 bar to attain the desired density.

Stress and vibration: Systems must endure high speeds, rough terrain, and adverse weather conditions.

Safety: Refueling stations must be designed to be safely operable by the average consumer.

Maintenance: Ability to effortlessly recreate leak-tight joints during servicing.

Type of Valve Used in Hydrogen Application

Hydrogen valves come in various types, each designed to handle the unique challenges of hydrogen gas. The most common types include:

Ball valves: Provide quick on/off control of hydrogen flow. They are often trunnion-mounted with direct-load stem seals to ensure leak-tight performance.

Needle valves: Allow precise adjustment of hydrogen flow. They are typically all-metal construction and require significant force to seal properly. High-quality stainless steel is preferred to resist hydrogen embrittlement.

Check valves: Prevent backflow in hydrogen refueling systems. Ball check valves are commonly used in hydrogen compressors due to their resistance to rapid temperature and pressure changes.

Other valve types like gate,��globe, and butterfly valves are also used in various hydrogen applications.

Proper material selection, pressure rating, and compatibility with hydrogen fittings are critical considerations when choosing hydrogen valves to ensure safe and reliable operation.

Factor driving and challenging the market

The hydrogen valve market is set for substantial growth, propelled by the rising demand for clean energy solutions and the necessity to reduce greenhouse gas emissions. Two key factors driving the market are:

Growing adoption of hydrogen fuel cell systems: The demand for on-board hydrogen supply fuel cell systems in vehicles is rising, particularly in heavy-duty applications like buses and trucks. This fuels the need for reliable and efficient hydrogen valves to ensure safe and controlled gas flow.

Expansion of hydrogen refueling infrastructure: As countries invest in building hydrogen refueling networks, the need for hydrogen valves in hydrogenation stations is increasing. Valves are critical components in these stations, ensuring the proper handling and dispensing of hydrogen fuel.

However, the hydrogen valve market also faces several challenges:

Material compatibility and embrittlement: Hydrogen can cause embrittlement in certain materials, leading to valve failures. Choosing the correct materials is vital to guarantee long-term reliability and safety.

Lack of standardization and regulations: The absence of global standards and regulations for hydrogen valves can create uncertainty and slow market adoption. Developing common guidelines and certifications will help build confidence in the technology and drive further growth.

Overcoming these challenges through continued innovation, material research, and policy support will be key to unlocking the full potential of the hydrogen valve market and accelerating the transition to a clean hydrogen economy.

The hydrogen valve market is experiencing significant growth, driven by factors such as the growing adoption of hydrogen fuel cell systems and expanding hydrogen refueling infrastructure. The market is expected to reach around USD 1 billion by 2030, with growth at a CAGR of more than 10%. Companies such as Parker, Emerson, Flowserve, and others are dedicatedly involved in the ecosystem by providing dedicated valves for hydrogen applications.

[illinoismanufacturers]

Fueling the Future: Sustainable Aviation Fuel's Role in Reducing Emissions and Transforming the Aviation Industry

The aviation industry stands at a critical crossroads as it confronts the dual challenges of escalating travel demands and the urgent need to minimize its environmental impact. Sustainable Aviation Fuel (SAF) is emerging as a crucial solution, offering the potential to significantly reduce carbon emissions while simultaneously supporting the burgeoning demand for air travel. This pivotal shift not only promises a cleaner, more sustainable future but also foretells a transformation in the aviation job market, necessitating a new spectrum of roles and skills.

SAF is a type of biofuel designed to power aircraft while producing a significantly smaller carbon footprint compared to traditional jet fuel. It is similar to conventional jet fuel in its properties but is made from various sustainable sources, which can dramatically cut life cycle greenhouse gas emissions. The U.S. Department of Energy highlights that SAF represents a significant innovation in aviation fuel, primarily due to its reduced content of aromatics, allowing it to burn cleaner and emit fewer pollutants like particulate matter and sulfur oxides, especially critical during takeoff and landing around airports.

The job landscape in the SAF domain is diverse, reflecting the intricate processes involved in producing sustainable aviation fuels. This spectrum ranges from research and development (R&D), which focuses on enhancing SAF production technologies, to logistics, distribution, and regulatory compliance roles. Furthermore, there is a growing demand for professionals adept in sustainability reporting and greenhouse gas accounting, emphasizing the need for transparency in reducing the aviation sector’s carbon emissions.

The burgeoning SAF sector requires a workforce endowed with a unique set of skills and knowledge. Essential competencies include technical expertise in biochemistry and chemical engineering, a thorough understanding of environmental regulations, proficiency in project management, and a deep knowledge of sustainability practices. Education and training programs in biofuels, renewable energy, and environmental management are critical in equipping future professionals. Continuous professional development through seminars and workshops is also vital to keep pace with technological and regulatory advancements.

The expansion of SAF is poised to redefine the aviation and fuel sectors dramatically. This shift offers an opportunity to achieve substantial reductions in greenhouse gas emissions, aligning with global sustainability goals and catering to a growing consumer preference for greener travel options. The United States, as a global leader in biofuel production, is positioned to spearhead this transformative shift, potentially leveraging economic and environmental benefits while fostering job creation across the nation.

Increasing SAF production will not only create jobs within the aviation industry but will also have ripple effects across various sectors. For example, the cultivation of feedstocks for SAF production could bolster agricultural jobs and promote sustainable farming practices, thereby enhancing the resilience of rural economies. Additionally, the construction of SAF biorefineries is expected to generate a plethora of jobs in construction, from skilled laborers to engineers and project managers. Once operational, these biorefineries will continue to provide employment in manufacturing near me and operations, ensuring steady jobs for chemical engineers, biochemists, plant operators, and maintenance staff.

Sustainable Aviation Fuel (SAF) promises reduced emissions and job growth in aviation, demanding new skills in production, management, and regulatory compliance. In conclusion, the development of SAF jobs is integral to the future of sustainable aviation, necessitating a specialized skill set and comprehensive training. These roles are not only crucial for the evolution of aviation fuel but also represent significant steps toward mitigating the environmental impact of air travel. As the industry continues to evolve, the ongoing development and support of the SAF workforce will be imperative. 

For those interested in this field or seeking further information on the impact of SAF jobs within the Illinois manufacturing sector, the Illinois Manufacturers’ Association remains a valuable resource.

[trendingreportz]

Carbon Fiber Reinforced Plastic Market - Forecast(2024 - 2030)

Carbon Fiber Reinforced Plastic Market Overview:

Carbon fiber reinforced plastic market size is forecast to reach $30.5 billion by 2030, after growing at a CAGR of 9.41% during 2024-2030, owing to the increasing adoption of carbon fiber reinforced plastics over conventional metallic alloys in various end-use industries such as automotive, aerospace, wind energy, and others. This is mainly due to the tensile strength carried by CFRP, which falls between 1500 and 3500 MPa, whereas its metallic counterparts such as aluminum and steel only possess tensile strength of 450–600 MPa and 750–1500 MPa, respectively. Growing demand from the aerospace industry and a rising preference for fuel-efficient and lightweight vehicles are the major factors driving the carbon fiber reinforced plastic (CFRP) market during the forecast period

Report Coverage

The report: “Carbon Fiber Reinforced Plastic (CFRP) Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the carbon fiber reinforced plastic (CFRP) Industry. 

By Type: Thermoplastic (Polyether Ether Ketone (PEEK), Polypropylene, Nylon, Acrylic Resins, Polyamide Resins, PET, Polyphenylene Sulfide (PPS), Polyethylene, Polyurethane, Polyethersulfone, Polyetherimide (PEI), and Others), and Thermosetting (Epoxy Resin, Polyester Resin, Vinyl Ester Resin, Phenolic, Polyimide Resins, and Others)

By Application: Automobiles, Industrial, Aviation & Aerospace, Marine, Defense, Electrical & Electronics, Medical, Sports Equipment, Wind Energy, Civil Engineering, and Others

By Geography: Americas, Europe, Asia Pacific, RoW

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Key Takeaways

Europe dominates the carbon fiber reinforced plastic (CFRP) market, owing to the increasing demand and production of lightweight vehicles in the region. According to OICA, in 2018 the production of light commercial vehicles has increased by 2.5 % in Europe.

The carbon fiber reinforced plastics are being widely used to manufacture sport equipment such as golf shafts, bicycles, skis, surfboards, helmets, racquets, hockey sticks, baseball bats and several other products. Its low maintenance cost and corrosion resistance properties are the major factor driving the market in the sports sector.

The properties associated with CFRP such as good conductivity, flame resistance, high strength and vibration damping has facilitated their inclusion in several electrical and electronic products such as household appliances, audio systems, enclosures, electrical installations, interconnects, brushes and EMI shielding.

The X-Ray permeability, biological inertness coupled with high strength has paved the way for CFRP applications in Medical sector. Imaging equipment, orthopedics and surgical outfits are some of the common medical devices that employ CFRP.

Due to the COVID-19 Pandemic most of the countries has gone under lockdown, due to which operations of various industries such as automotive, defense, and aerospace has been negatively affected, which is hampering the carbon fiber reinforced plastic (CFRP) market growth.

By Type – Segment Analysis

The thermosetting segment held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019, owing to the superior characteristics of thermosetting CFRP over thermoplastic CFRP. Unlike thermoplastics, they retain their strength and shape even when heated. This makes thermosetting plastics well-suited to the production of permanent components and large, solid shapes. Furthermore, these components have outstanding high strength-to-weight ratio performance, enhanced dielectric strength, low thermal conductivity. Thus, thermoset CFRP find their use in varied applications owing to their heat resistant characteristics, excellent dimensional and chemical stability properties when exposed to high heat and more. 

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By Application – Segment Analysis 

The defense application held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019 and is growing at a CAGR of 9.42%, owing to its ability to reduce a weight of an object to a large extent while providing superior strength. Thus, there is an increasing demand of carbon fiber reinforced plastics from the defense industries to manufacture specialty components for missile systems, radar panels, body armors, helmets, rocket motor casing, artificial limbs, ballistics, nuclear submarine, propulsion systems and many more. Some of the materials used in military composites include Kevlar, fiberglass and carbon fiber. Countries like Russia, India and Japan are increasingly using composites in submarines, jets, sonar domes and truck components. U.S., U.K., India, and China are the major spenders on defense equipment and maintenance of army. M80 Stileto is the largest U.S. naval vessel built using carbon-fiber composites. Armored vehicles have conventionally used steel armor for protection; however, weight of these large trucks creates logistical problems. Therefore, the adoption of CFRP is increasing in these vehicles. U.S. DOD aims to replace UH-60 Black Hawk with Bell Helicopter’s V-280 which incorporates carbon fibers in its wings, fuselage, and tail. The need for agility at the time of sudden attacks and upgrading the defense technologies has led to the shift from conventional materials to fiber reinforced materials, which is anticipated to propel the carbon fiber reinforced plastic market during the forecast period.

By Geography – Segment Analysis

Europe region held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019 up to 34%, owing to the increasing defense, and aerospace sectors in the region. The CFRP are particularly attractive to defense applications because of their exceptional strength, better stiffness-to-density ratios and superior physical properties. Also, CFRP provides relatively stronger and stiffer fibers in a tough resin matrix. According to International Trade Administration (ITA), the Norwegian Government presented a core defense spending budget of USD 6.9 billion in 2019. The Norwegian defense budget accounted for 1.62% of Norway’s GDP in 2018. French civil aerospace industry in 2018 grew to €50.36 billion, out of total non-consolidated aerospace and defense aerospace revenues of €65.4 billion. This is a 1.2% increase over 2017. Also, France has put forth an agreement with the U.K government of $2.1 billion to build a prototype combat drone, which will further boost CFRP market growth. Thus, the increasing aerospace and defense industry in Europe is likely to influence the growth of the carbon fiber reinforced plastic market in Europe.

Drivers – Carbon Fiber Reinforced Plastic (CFRP) Market

Growing Wind Power Sector

As a consequence of drastic increase in energy demand, the conventional sources of energy are depleting very fast. Hence, the need to expand and utilize the renewable energy sources like wind power is growing. The wind power sector is increasing, as use of renewable energy sources results in less emission of greenhouse and other harmful gases such as SO2. The modern wind turbine are being increasingly used in wind power sector as they are cost-effective, more reliable and have scaled up in size to multi-megawatt power ratings. Wind Energy installations in APAC increased by 23.6%. This region is set to witness high growth for wind energy equipment and materials majorly driven by commitments of government of India and China towards green energy. Carbon fiber reinforced plastic is used primarily in the spar, or structural element, of wind blades longer than 45m/148 ft, both for land-based and offshore systems. Carbon fiber has known benefits for reducing wind turbine blade mass due to the significantly improved stiffness, strength, and fatigue resistance per unit mass compared to fiberglass. Due to the increasing adoption of wind power energy source, the demand for the carbon fiber reinforced plastic is also increasing, which acts as a driver for the carbon fiber reinforced plastic market during the forecast period.

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Stringent Government Regulation on Emission

Carbon fiber reinforced plastics are being extensively used in the automotive industries to reduce fuel consumption as well as emissions and to manufacture lightweight vehicles. Several governments across the world have imposed stringent standard emission and fuel economy regulations for vehicles. These standard regulations have compelled automotive OEMs to increase the use of lightweight materials such as carbon fiber reinforced plastics to assist in increasing the fuel economy of a vehicle while ensuring safety and performance. The emission regulation for light-duty cars such as Corporate Average Fuel Economy (CAFÉ) and Greenhouse Gas Emission standards sets fuel consumption standards for the vehicles. These regulations by the governments have made sure that the car manufacture henceforth might need to be manufacturing much lighter vehicles to obey as per these norms, which acts as a driver for the carbon fiber reinforced plastic market during the forecast period. 

Challenges – Carbon Fiber Reinforced Plastic (CFRP) Market

High Cost of Carbon Fiber Reinforced Plastics

The cost of the carbon fiber reinforced plastics is at times supposedly higher. When compared with other traditional materials such as steel and aluminum, lightweight materials such as carbon fiber reinforced plastics (CFRP) and glass fiber reinforced plastics (GFRP) are costly. Composites of carbon fiber cost almost 1.5 to five times more than steel. High cost of fiber production inhibits large volume deployment. Therefore, precursor and processing costs need to be reduced. The high price of carbon fibers in many applications constrains the potential use of composites. Hence, the high cost of carbon fiber reinforced plastics may hinder with the carbon fiber reinforced plastics market growth during the forecast period. However, cost effective production methods coupled with high volume processing, assembly techniques and automation processes will lead to reduction of price in the near future. 

Market Landscape 

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the carbon fiber reinforced plastic (CFRP) market. In 2019, the market of carbon fiber reinforced plastic (CFRP) has been consolidated by the top five players accounting for 40% of the share. Major players in the carbon fiber reinforced plastic (CFRP) market are SGL Carbon SE, Teijin Ltd., Toray Industries Inc., Cytec Industries Inc., Mitsubishi Rayon Co. Ltd., Farmosa Plastics Corporation, Nippon Carbon Co. Ltd., DowAksa Advanced Composites Holdings BV, Hexcel Corporation, and Hyosung Advanced Materials.

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Acquisitions/Technology Launches

In May 2016, Dowaska, Under secretariat of Defense Industries (SSM) and Turkish Aerospace Industries (TAI) have jointly opened The DowAksa Global Composites Center with an objective to advance Turkey’s carbon fiber and other reinforcement composites manufacturing mainly for aerospace applications in both defense and commercial aviation and the infrastructure, marine, wind energy and transportation sector.

In March 2018, Toray Industries, Inc. developed a new fabrication technology for Carbon Fiber Reinforced Plastics that enables both improved dimensional accuracy and energy savings.

In November 2018, Toray Industries, Inc. developed new carbon fibers that realized both higher tensile strength and tensile modulus named “TORAYCA® MX series”.

In September 2019, Teijin Limited acquired Benet Automotive, a leading automotive composite and component supplier in the Czech Republic. The acquisition benefits Teijin’s composite technologies business.

In December 2019, SGL Carbon and Solvay entered into a joint development agreement to develop composite materials based on large-tow intermediate modulus carbon fiber for aerospace primary structures.

In May 2020, Toray Industries, Inc. developed a high tensile modulus carbon fiber and thermoplastic pellets that are ideal for injection molding employing. Toray announced to push ahead with research and development to commercialize the fiber and pellets within the next three years.

[sparklelaser]

Laser Printing Machine on Plastic

In the landscape of modern manufacturing, laser printing machines have emerged as game-changers, particularly in the realm of plastic production. The ability to precisely mark, engrave, and cut plastic components offers a myriad of advantages, from enhancing product aesthetics to improving traceability and compliance. In this exploration, we delve into the transformative impact of Laser Printing Machine on Plastic manufacturing processes, uncovering their benefits and potential applications.

The Versatility of Laser Printing on Plastic: Laser printing on plastic encompasses a wide range of applications, revolutionizing traditional manufacturing processes in numerous industries. Unlike conventional methods such as screen printing or mechanical engraving, laser printing offers unparalleled precision, flexibility, and efficiency. Whether it's creating intricate designs, adding serial numbers, or implementing barcodes, laser printing machines empower manufacturers to achieve high-quality results with minimal waste and downtime.

Applications Across Industries: The versatility of laser printing machines on plastic extends across various industries, including:

Electronics: Laser marking enables the permanent labeling of plastic enclosures, circuit boards, and connectors, facilitating product identification and branding in the electronics sector.

Medical Devices: Laser printing ensures the precise marking of medical-grade plastics for regulatory compliance, including CE and FDA requirements, while also supporting traceability and sterilization processes.

Automotive: From dashboard panels to engine components, laser printing machines facilitate part serialization, branding, and customization in the automotive industry, enhancing both aesthetics and functionality.

Packaging: Laser printing on plastic packaging materials offers efficient solutions for product labeling, batch coding, and anti-counterfeiting measures, enhancing consumer safety and brand integrity.

Aerospace: Laser marking on plastic components used in aircraft interiors and structural elements enables part identification, maintenance tracking, and compliance with stringent aviation standards.

Benefits of Laser Printing on Plastic: The adoption of laser printing machines in plastic manufacturing brings forth a host of benefits, including:

Precision and Consistency: Laser technology ensures precise and consistent markings, even on complex geometries and irregular surfaces, minimizing errors and enhancing product quality.

Flexibility and Customization: Manufacturers can easily customize designs, logos, and text using laser printing machines, offering greater flexibility to meet customer preferences and market demands.

Efficiency and Cost Savings: Laser printing reduces production time and labor costs associated with traditional marking methods, leading to improved operational efficiency and competitive pricing.

Durability and Longevity: Laser markings on plastic exhibit superior resistance to abrasion, chemicals, and environmental factors, ensuring durability throughout the product lifecycle.

Environmental Sustainability: Laser printing produces minimal waste and emissions compared to conventional printing processes, aligning with sustainable manufacturing practices and reducing environmental impact.

Conclusion: Laser printing machines have revolutionized plastic manufacturing processes, offering unprecedented precision, versatility, and efficiency across a multitude of industries. By embracing laser technology, manufacturers can unlock new possibilities for product customization, branding, and compliance while enhancing operational efficiency and sustainability. As the demand for high-quality plastic components continues to rise, laser printing stands poised to reshape the future of manufacturing, driving innovation and excellence in the pursuit of excellence.

[lokesh-infinium]

Aircraft Recycling Market Soars to New Heights, Valued at $11.28 Billion in 2030

Aircraft recycling is a systematic process encompassing the dismantling, salvaging, and responsible disposal of aircraft that have reached the conclusion of their operational life, spanning commercial airliners, cargo planes, military aircraft, and various other types. The primary objective of aircraft recycling is to maximize the recovery of valuable materials, components, and parts from retired aircraft while minimizing environmental impact. The multi-stage aircraft recycling process begins with the removal of the aircraft from active service and its transportation to a specialized recycling facility. Trained professionals then assess the aircraft's condition, creating a comprehensive inventory of its components. Subsequently, the dismantling phase involves the careful removal of materials like aluminum, titanium, steel, and composites, followed by sorting, cleaning, and preparation for recycling or resale.

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Aircraft recycling not only focuses on material recovery but also involves the retrieval of valuable aircraft parts. These components can undergo refurbishment and find a second life in the aftermarket, providing cost-effective alternatives for aircraft operators and maintenance providers. The process also addresses the safe disposal of hazardous materials in compliance with environmental regulations, including chemicals, fuels, and other potentially harmful substances. Aligned with sustainability and environmental responsibility principles, aircraft recycling significantly contributes to reducing the carbon footprint of the aviation industry. By diverting aircraft from landfills and promoting material reuse, the industry actively supports the concept of the circular economy, fostering a more eco-friendly and resource-efficient aviation sector.

The growth of the aircraft recycling market is propelled by the increasing number of retired airplanes. As more aircraft reach the end of their operational lives, the demand for recycling services experiences a corresponding surge, driving the expansion of the aircraft recycling industry. The economic benefits of recovering valuable materials and aircraft parts further contribute to the market's growth. Recoverable metals such as aluminum, titanium, steel, and composite materials are recyclable, and airlines worldwide are increasingly adopting recovered aircraft parts. While the establishment of recycling facilities and the acquisition of necessary equipment involve substantial upfront costs, potentially hindering market growth, the rapidly growing aftermarket for aircraft parts presents lucrative opportunities for the aircraft recycling market.

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The aircraft recycling market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to hold a maximum share of the aircraft recycling market during the projected period. North America has one of the world’s largest and most established aviation industries. This region is home to numerous major airlines, aircraft manufacturers, and Maintenance, Repair, and Overhaul (MRO) facilities. Thus, the retirement and decommissioning of aircraft occur frequently, providing a consistent source for aircraft recycling companies. The sheer volume of retired aircraft in North America ensures a steady demand for recycling services. Moreover, the Europe region is anticipated to grab a significant share of the aircraft recycling market due to strict environmental regulations. The continent has been at the forefront of implementing strict environmental regulations and promoting sustainable aviation practices. As a result, aircraft operators and airlines in Europe are compelled to adopt eco-friendly recycling methods, to align with these stringent environmental standards.

Key Market Players:

Aircraft End-of-Life Solutions (AELS)

TARMAC AEROSAVE

ecube,inc

AIR SALVAGE INTERNATIONAL LTD

Aviation International Recycling

Vallair

VIRTUSTRADE RECYCLING AIRPLANES

ComAv - Commercial Aviation Services

VAS Aero Services, LLC

CAVU Aerospace Inc.

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[lalsingh228-blog]

Aerospace Maintenance Chemicals Market to See Huge Growth

Latest business intelligence report released on Global Aerospace Maintenance Chemicals Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Aerospace Maintenance Chemicals market outlook. List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis: Dow(United States), Eastman Chemical Company(United States), Henkel AG & Co. KGaA(Germany), Exxon Mobil Corporation(United States), Arrow Solutions (United Kingdom), ALMADION International (UAE), Velocity Chemicals Ltd.(United States), Â Aircraft Spruce(United States), Quaker Chemical Corporation(United States), Nuvike Chemical Compounds (United States), Callington Haven Pty Ltd.(Australia), Royal Dutch Shell PLC(Netherlands). Download Free Sample PDF Brochure (Including Full TOC, Table & Figures) @ https://www.advancemarketanalytics.com/sample-report/58256-global-aerospace-maintenance-chemicals-market Brief Overview on Aerospace Maintenance Chemicals: The global aerospace maintenance chemicals market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The growing demand from aftermarket MROs, the growing number of commercial aircraft production & deliveries due to the rising global passenger traffic, and the rising number of airports, airlines, and flight take-off & landing operations are some of the major factors aiding into the growth of the market.

Key Market Trends: Increasing Adoption of Organic and Eco-Friendly Chemicals

Opportunities: Expected Deliveries of More than 38,000 Commercial Aircraft Across the World During the Next 20 Years

Market Growth Drivers: Rising Commercial Aircraft Production & Deliveries Due to the Growing Worldwide Passenger Traffic

Rising Number of Airports, Airlines, and Flights

Challenges: The Outbreak of COVID-19 Leading to Cancellation of Scheduled Airline Flights For the Next Uncertain Period of Time Across the World is Reducing the Demand of Product

Segmentation of the Global Aerospace Maintenance Chemicals Market: by Type (Aircraft Cleaning Chemicals, Aircraft Deicing Fluids, Aircraft Paint Chemicals, Degreasers, Others), End Users (Airlines & Airports, Aftermarket MROs), Technology (Organic Chemicals, Inorganic Chemicals), Aircraft (Commercial Aircraft, Military, Helicopters, General Aviation, UAVs) Purchase this Report now by availing up to 10% Discount on various License Type along with free consultation. Limited period offer. Share your budget and Get Exclusive Discount @: https://www.advancemarketanalytics.com/request-discount/58256-global-aerospace-maintenance-chemicals-market Geographically, the following regions together with the listed national/local markets are fully investigated: • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) • North America (U.S., Canada, and Mexico) • South America (Brazil, Chile, Argentina, Rest of South America) • MEA (Saudi Arabia, UAE, South Africa)Furthermore, the years considered for the study are as follows: Historical data – 2017-2022 The base year for estimation – 2022 Estimated Year – 2023 Forecast period** – 2023 to 2028 [** unless otherwise stated] Browse Full in-depth TOC @: https://www.advancemarketanalytics.com/reports/58256-global-aerospace-maintenance-chemicals-market

Summarized Extracts from TOC of Global Aerospace Maintenance Chemicals Market Study Chapter 1: Exclusive Summary of the Aerospace Maintenance Chemicals market Chapter 2: Objective of Study and Research Scope the Aerospace Maintenance Chemicals market Chapter 3: Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis Chapter 4: Market Segmentation by Type, End User and Region/Country 2016-2027 Chapter 5: Decision Framework Chapter 6: Market Dynamics- Drivers, Trends and Challenges Chapter 7: Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile Chapter 8: Appendix, Methodology and Data Source Buy Full Copy Aerospace Maintenance ChemicalsMarket – 2021 Edition @ https://www.advancemarketanalytics.com/buy-now?format=1&report=58256 Contact US : Craig Francis (PR & Marketing Manager) AMA Research & Media LLP Unit No. 429, Parsonage Road Edison, NJ New Jersey USA – 08837 Phone: +1 201 565 3262, +44 161 818 8166 sales@advancemarketanalytics.com

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How Are Various Stainless Steel Sheets Used?

You may find a wide variety of stainless steel products, including sheets, on the market. Despite this, there is a dearth of knowledge regarding the products and an abundance of data regarding stainless steel in general, making it difficult for many company owners to comprehend the value of various stainless steel things.

Different Forms of Stainless Steel Coils

Stainless steel with an austenitic structure:

The microstructure of this steel such as Duplex Steel Plate is mainly composed of austenite, a solid iron-carbon solution. At 723 degrees Celsius, this solution is hotter than its critical point. The members of this stainless steel family can withstand extreme heat without deteriorating in appearance or strength. Among the three metals that make up this steel, 70% are austenitic, 16% are chromium, and 6% are nickel. Because of its lack of magnetic properties, heat treatment will not hasten the hardening of this grade of stainless steel 304 Sheet or Super Duplex 2507 Sheet.

The only alloying element utilized in ferritic stainless steel is chromium. Within the human body, chromium concentrations vary between 10.5% and 18.0%. Despite lacking heat hardening capabilities, this steel product like Duplex Stainless Steel Sheet exhibits a number of metallic features, such as magnetic properties and resistance to corrosion. In most cases, they can withstand stress corrosion.

Martensitic stainless steel:

The lower chromium concentration and higher carbon content are the defining features of this steel. It is magnetic, more hard enable, and wieldable than most materials. This metal can have its properties enhanced by subjecting it to heat treatment. Corrosion resistance could be lower than that of the other two metals.

Why Stainless Steel Sheets Are Useful?

In many fields, customers have a hard time locating the right product. You can even say that you are not able to find right Super Duplex Sheet as per your needs. Different grades, forms, and sizes of stainless steel are available. Pick the one that works for you the best; that's crucial. The chemical business requires products that can resist chemical corrosion, whereas the aviation industry need something that is stronger, more long-lasting, and resistant to abrasion. Each and every sector has its individual challenges set. The importance of selecting the correct product is illustrated by this straightforward example. A great product helps business managers save money on operations and maintenance, which is a major boon. If you also want to be successful then you should think about the benefits of Duplex 2205 Sheet and high-quality 2205 Sheet.

UNS S32205 Plate and stainless-steel sheets such as 254 SMO Sheet is popular among companies due to their ease of production. The object is elongated, lustrous, and light. Importantly, the material's endurance is unaffected by any of these factors. The adaptability of substance and high level of strength make it beneficial in more than a few contexts.

Stainless Steel Plates are available in a variety of grades, and they are all resistant and sturdy to corrosion. Different things can be perfectly done with it.

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Energy Flow: A Comprehensive Analysis of the Global Pipeline Equipment Market (2021-2031)

As the global appetite for oil and gas grows in the transportation and chemical sectors, the need for highly efficient pipeline infrastructure intensifies. Government initiatives driving oil and gas pipeline construction have fueled a surge in demand for advanced pipeline equipment, marking a pivotal juncture in the evolution of energy transportation solutions. The quest for efficiency in this dynamic landscape underscores the critical role played by cutting-edge pipeline equipment in meeting the escalating demands of the modern industrial landscape. The pipeline equipment market size was valued at $12.5 billion in 2021, and the pipeline equipment industry is estimated to reach $18.7 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

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Pipeline equipment means all pipe, fittings, pumps, telephone, and telegraph lines, and all other material and equipment used or intended to be used as part of or incident to the construction, maintenance, and operation of a pipeline for the transportation of oil, gas, water, or other liquid or gaseous substance.

In the pipeline transportation industry, pipeline equipment is widely used. Pipeline transportation is a mode of transportation that entails the long-distance pipeline transportation of solid, liquid, or gaseous goods. Most of the time, it is used to transport gas and crude and refined petroleum products. It can also be used to transport other fluids, including water, slurry, sewage, and beer. It has many benefits, including flexibility, total automation of many processes, loading and unloading, low operating costs, and environmental friendliness, all of which are important drivers of pipeline equipment market trends.

The requirement for ongoing security and monitoring services is because pipelines are vulnerable to vandalism. It also has difficulties running continuously and without hiccups. It is more common for flammable gas and fuel to seep into and leak from pipelines around the world that transport chemically stable and flammable materials over long distances and through difficult terrain and hills. All these things are expected to restrain the pipeline equipment market growth during the projection period.

A major factor driving up demand for network communication solutions in the pipeline equipment market is the quick transition of the pipeline transportation system to virtualization and the connectivity of the detection and management equipment with the communication equipment. The market is experiencing increased demand due to the need for affordable and secure transportation methods for dangerous chemicals and other liquids and gases. This will provide ample opportunities for the pipeline equipment market.

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The global pipeline equipment market forecast is segmented on the basis of application, end-user, and region. By application, the market is divided into liquid pipelines and gas pipelines. By end use, it is divided into oil and gas, chemicals, water & wastewater, energy, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA

On the basis of application, the gas pipeline segment accounted for 75.0% of the pipeline equipment market share in 2021 and is expected to maintain its dominance during the forecast period. Gas pipelines are utilized to transport various products which are gaseous in nature such as aviation gas, gaseous chemicals, and other gaseous substances. Product pipelines are used to transport chemicals from refineries and chemical plants to storage, and other processing plants or distribution facilities can transport hazardous materials.

Competitive Analysis:

The Pipeline Equipment industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players in the global Pipeline Equipment market include,

LTS Energy Avesta Steels & Alloys Fittinox S.R.L. Arnco, Siderforgerossi Group SpA Arabian Oilfield Supplies & Services Destec Engineering Limited AFG Holdings, Inc. RBV Energy Weir Oil & Gas Aqueterra Group Ltd

By end use, the oil & gas segment accounted for the largest revenue share in the global pipeline equipment market in 2021. Pipelines are generally the most economical way to transport large quantities of oil, refined oil products, and natural gas over land. There are three types of pipelines that carry oil such as gathering systems, crude oil pipeline systems, and refined products pipeline systems. The crude oil pipeline system carries crude oil to refineries while refined product pipelines transport refined products such as gasoline, kerosene, jet fuel, and heating oil from refineries to the market.

Region-wise, North America accounted for the largest market share in the market and is projected to grow at a CAGR of 3.7% during the forecast period. In the U.S. there are more than 210 pipeline systems which total more than 305,000 miles of interstate and intrastate pipelines. The Colonial Pipeline is the largest pipeline system for refined oil products in the U.S. It consists of two tubes around 8,850 Km long and carries 3 million barrels of fuel per day between Texas and New York. The U.S. houses the greatest number of oil pipelines in the world. As of 2020, there were 111 operational pipelines in the country and a further 25 oil pipelines are under development.

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Key Findings of the Study

- As per pipeline equipment market analysis, on the basis of application, the gas pipeline segment emerged as the global leader by acquiring more than 75.0% of the pipeline equipment market share in 2021 and is anticipated to continue this trend during the forecast period. - On the basis of end-use, the oil and gas segment emerged as the largest market share in 2021 accounting for 41.7%, and is anticipated to continue this trend during the forecast period. - On the basis of region, North America is the major consumer of pipeline equipment among other regions. It accounted for around 38% of the global market share in 2021.

About Us:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Carbon Fiber Reinforced Plastic Market - Forecast (2023 - 2028)

Carbon fiber reinforced plastic market size is forecast to reach $22.50 billion by 2025, after growing at a CAGR of 9.41% during 2020-2025, owing to the increasing adoption of carbon fiber reinforced plastics over conventional metallic alloys in various end use industries such as automotive, aerospace, wind energy, and others. This is mainly due to tensile strength carried by CFRP, which falls between 1500 and 3500 MPa, whereas its metallic counterparts such as aluminum and steel only possess tensile strength of 450–600 MPa and 750–1500 MPa, respectively. Growing demand from the aerospace industry and a rising preference for fuel efficient and light-weight vehicles are the major factors driving the carbon fiber reinforced plastic (CFRP) market during the forecast period.

Report Coverage

The report: “Carbon Fiber Reinforced Plastic (CFRP) Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the carbon fiber reinforced plastic (CFRP) Industry. 

By Type: Thermoplastic (Polyether Ether Ketone (PEEK), Polypropylene, Nylon, Acrylic Resins, Polyamide Resins, PET, Polyphenylene Sulfide (PPS), Polyethylene, Polyurethane, Polyethersulfone, Polyetherimide (PEI), and Others), and Thermosetting (Epoxy Resin, Polyester Resin, Vinyl Ester Resin, Phenolic, Polyimide Resins, and Others)

By Application: Automobiles, Industrial, Aviation & Aerospace, Marine, Defense, Electrical & Electronics, Medical, Sports Equipment, Wind Energy, Civil Engineering, and Others

By Geography: Americas, Europe, Asia Pacific, RoW

Key Takeaways

Europe dominates the carbon fiber reinforced plastic (CFRP) market, owing to the increasing demand and production of lightweight vehicles in the region. According to OICA, in 2018 the production of light commercial vehicles has increased by 2.5 % in Europe.

The carbon fiber reinforced plastics are being widely used to manufacture sport equipment such as golf shafts, bicycles, skis, surfboards, helmets, racquets, hockey sticks, baseball bats and several other products. Its low maintenance cost and corrosion resistance properties are the major factor driving the market in the sports sector.

The properties associated with CFRP such as good conductivity, flame resistance, high strength and vibration damping has facilitated their inclusion in several electrical and electronic products such as household appliances, audio systems, enclosures, electrical installations, interconnects, brushes and EMI shielding.

The X-Ray permeability, biological inertness coupled with high strength has paved the way for CFRP applications in Medical sector. Imaging equipment, orthopedics and surgical outfits are some of the common medical devices that employ CFRP.

Due to the COVID-19 Pandemic most of the countries has gone under lockdown, due to which operations of various industries such as automotive, defense, and aerospace has been negatively affected, which is hampering the carbon fiber reinforced plastic (CFRP) market growth.

By Type – Segment Analysis

The thermosetting segment held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019, owing to the superior characteristics of thermosetting CFRP over thermoplastic CFRP. Unlike thermoplastics, they retain their strength and shape even when heated. This makes thermosetting plastics well-suited to the production of permanent components and large, solid shapes. Furthermore, these components have outstanding high strength-to-weight ratio performance, enhanced dielectric strength, low thermal conductivity. Thus, thermoset CFRP find their use in varied applications owing to their heat resistant characteristics, excellent dimensional and chemical stability properties when exposed to high heat and more. 

By Application – Segment Analysis 

The defense application held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019 and is growing at a CAGR of 9.42%, owing to its ability to reduce a weight of an object to a large extent while providing superior strength. Thus, there is an increasing demand of carbon fiber reinforced plastics from the defense industries to manufacture specialty components for missile systems, radar panels, body armors, helmets, rocket motor casing, artificial limbs, ballistics, nuclear submarine, propulsion systems and many more. Some of the materials used in military composites include Kevlar, fiberglass and carbon fiber. Countries like Russia, India and Japan are increasingly using composites in submarines, jets, sonar domes and truck components. U.S., U.K., India, and China are the major spenders on defense equipment and maintenance of army. M80 Stileto is the largest U.S. naval vessel built using carbon-fiber composites. Armored vehicles have conventionally used steel armor for protection; however, weight of these large trucks creates logistical problems. Therefore, the adoption of CFRP is increasing in these vehicles. U.S. DOD aims to replace UH-60 Black Hawk with Bell Helicopter’s V-280 which incorporates carbon fibers in its wings, fuselage, and tail. The need for agility at the time of sudden attacks and upgrading the defense technologies has led to the shift from conventional materials to fiber reinforced materials, which is anticipated to propel the carbon fiber reinforced plastic market during the forecast period.

By Geography – Segment Analysis

Europe region held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019 up to 34%, owing to the increasing defense, and aerospace sectors in the region. The CFRP are particularly attractive to defense applications because of their exceptional strength, better stiffness-to-density ratios and superior physical properties. Also, CFRP provides relatively stronger and stiffer fibers in a tough resin matrix. According to International Trade Administration (ITA), the Norwegian Government presented a core defense spending budget of USD 6.9 billion in 2019. The Norwegian defense budget accounted for 1.62% of Norway’s GDP in 2018. French civil aerospace industry in 2018 grew to €50.36 billion, out of total non-consolidated aerospace and defense aerospace revenues of €65.4 billion. This is a 1.2% increase over 2017. Also, France has put forth an agreement with the U.K government of $2.1 billion to build a prototype combat drone, which will further boost CFRP market growth. Thus, the increasing aerospace and defense industry in Europe is likely to influence the growth of the carbon fiber reinforced plastic market in Europe.

Drivers – Carbon Fiber Reinforced Plastic (CFRP) Market

Growing Wind Power Sector

As a consequence of drastic increase in energy demand, the conventional sources of energy are depleting very fast. Hence, the need to expand and utilize the renewable energy sources like wind power is growing. The wind power sector is increasing, as use of renewable energy sources results in less emission of greenhouse and other harmful gases such as SO2. The modern wind turbine are being increasingly used in wind power sector as they are cost-effective, more reliable and have scaled up in size to multi-megawatt power ratings. Wind Energy installations in APAC increased by 23.6%. This region is set to witness high growth for wind energy equipment and materials majorly driven by commitments of government of India and China towards green energy. Carbon fiber reinforced plastic is used primarily in the spar, or structural element, of wind blades longer than 45m/148 ft, both for land-based and offshore systems. Carbon fiber has known benefits for reducing wind turbine blade mass due to the significantly improved stiffness, strength, and fatigue resistance per unit mass compared to fiberglass. Due to the increasing adoption of wind power energy source, the demand for the carbon fiber reinforced plastic is also increasing, which acts as a driver for the carbon fiber reinforced plastic market during the forecast period.

Stringent Government Regulation on Emission

Carbon fiber reinforced plastics are being extensively used in the automotive industries to reduce fuel consumption as well as emissions and to manufacture lightweight vehicles. Several governments across the world have imposed stringent standard emission and fuel economy regulations for vehicles. These standard regulations have compelled automotive OEMs to increase the use of lightweight materials such as carbon fiber reinforced plastics to assist in increasing the fuel economy of a vehicle while ensuring safety and performance. The emission regulation for light-duty cars such as Corporate Average Fuel Economy (CAFÉ) and Greenhouse Gas Emission standards sets fuel consumption standards for the vehicles. These regulations by the governments have made sure that the car manufacture henceforth might need to be manufacturing much lighter vehicles to obey as per these norms, which acts as a driver for the carbon fiber reinforced plastic market during the forecast period. 

Challenges – Carbon Fiber Reinforced Plastic (CFRP) Market

High Cost of Carbon Fiber Reinforced Plastics

The cost of the carbon fiber reinforced plastics is at times supposedly higher. When compared with other traditional materials such as steel and aluminum, lightweight materials such as carbon fiber reinforced plastics (CFRP) and glass fiber reinforced plastics (GFRP) are costly. Composites of carbon fiber cost almost 1.5 to five times more than steel. High cost of fiber production inhibits large volume deployment. Therefore, precursor and processing costs need to be reduced. The high price of carbon fibers in many applications constrains the potential use of composites. Hence, the high cost of carbon fiber reinforced plastics may hinder with the carbon fiber reinforced plastics market growth during the forecast period. However, cost effective production methods coupled with high volume processing, assembly techniques and automation processes will lead to reduction of price in the near future. 

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Emerging Technologies Shaping the Actuator Systems Market

An actuator system market is a component of a machine that is responsible for moving and controlling a mechanism or system, which is operated electrically, manually or by various fluids such as air, hydraulics, and others. An actuator requires a control signal and a source of energy. The control signal is relatively low energy and may be electric voltage or current, pneumatic or hydraulic pressure, or even human power. Two basic motions of actuators are linear and rotary. The global actuator systems market is estimated to grow at a CAGR of 8.8% during forecast. At this CAGR, the global actuator systems market size is estimated to reach from $48.3 billion in 2019 to $87.2 billion by 2026.

Increase in production, rise in use of electrical actuators due to their efficient operation, less maintenance and others, and surge in demand from automation industry are expected to drive the growth of the global actuator systems market. However, strong competition among manufacturers, stringent government regulations on the use of actuators for safety purpose, and reduced energy consumption are expected to restrain the global actuator systems market growth. Further, factors such as increase in investment in automation industry, rise in demand in energy sector for the actuator use, and research on improvement in actuator systems are expected to be the opportunities in the growth of the global actuator systems market.

Key segmentation can be done on the basis of product, application, motion, end use, and region. Based on the product, the market is segmented into hydraulic, mechanical, pneumatic, electrical, thermal, and others. On the basis of application, the market is classified into automotive, healthcare, electronics, chemical processing and others. By segmentation type motion, it is categorized into linear and rotary. Based on end use, the market is divided into chemical, power, oil & gas, automobile, hydraulics, metals, and others. Based on region, the global actuator systems market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key players in the global actuator systems market are ABB, Rockwell Automation, Inc., Emerson Electric Co., Altra Industrial Motion, Flowserve Corporation, SAMSON CONTROLS, SMC Corporation, Aero Space Controls Corporation, GE Aviation, Honeywell International Inc., and MISUMI Corporation.

Key Benefits for Stakeholders:

The global actuator systems market share has been analyzed across four major regions.

Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of actuator systems for strategy building.

The report outlines the current market trends and future scenario of the market size to understand the prevailing opportunities and potential investment pockets. The market is forecasted.

Major countries in each region have been mapped according to their individual revenue contribution to the regional market.

The key drivers, restraints, opportunities & actuator systems market trends along with their detailed impact analysis are elucidated in the study.

The global actuator systems market analysis covers in-depth information of the major industry participants.

Questions Answered in the Actuator Systems Market Research Report:

What is the growth rate of the actuator systems market during the forecast period?

What will be the global actuator systems market size ?

Who are the leading manufacturing companies in the actuator systems market?

How the major current trends will shape the market in the future?

What are the driving factors and opportunities in the market?

Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?

Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?

What are the conclusions of the actuator systems market?