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global-research-report · 6 days ago

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Global Tools Market Growth: Trends, Challenges, and Opportunities

The global tools market size is expected to reach USD 61.84 billion by 2030, registering a CAGR of 5.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to increasing construction spending in developing countries around the world. Manufacturers are continuously introducing new and improved tools equipped with advanced features, such as enhanced performance, durability, and user-friendly designs. For instance, power tools now come with brushless motors for increased efficiency, lithium-ion batteries for longer runtime, and ergonomic designs for improved comfort during prolonged use. These technological advancements make power and hand tools more attractive to both professionals and DIY enthusiasts, leading to increased demand. The construction & infrastructure sectors are experiencing significant growth worldwide, driven by urbanization, population growth, and government investments in infrastructure development.

These projects require a wide range of power tools and hand tools for tasks, such as excavation, concrete work, carpentry, plumbing, and electrical installations. As construction activity intensifies, the demand for tools used in building, renovation, and maintenance projects increases, contributing to the overall market growth. The growing preference for DIY is particularly prompting power tool vendors to introduce affordable and easy-to-use power tools featuring long-lasting batteries for household usage. Home improvement activities typically call for power tools, such as power drills, circular saws, impact wrenches, hammer drills, and grinders. These power tools are available in the market in a diverse range and can be used for various applications, such as roofing, kitchen and bathroom remodeling, and landscaping, among others. As the trend of undertaking these activities is expected to continue over the next few years, the demand for power tools is also anticipated to gain traction over the forecast period.

At the same time, an upsurge in technical jobs, particularly at professional contractors undertaking home improvement and remodeling projects, has also paved the way for the growth of the power tools market. In various industries, such as construction, manufacturing, and automotive, there is a growing emphasis on improving productivity and efficiency. Power tools and hand tools play a crucial role in achieving these goals by enabling workers to complete tasks more quickly and accurately. For instance, power drills, saws, and impact drivers allow for faster assembly, cutting, and fastening, while hand tools like wrenches and pliers facilitate precise adjustments and repairs. As businesses seek to streamline their operations and meet tight deadlines, the demand for tools that enhance productivity continues to rise.

Tools Market Report Highlights

The power tool segment led the market with a share of 69.0 in 2023. Power tools are generally more efficient than hand tools, allowing users to complete tasks more quickly and with less physical effort. For instance, a power drill can quickly bore holes through various materials with precision and ease, whereas using a manual drill requires more time and effort. This efficiency is particularly important in industries, such as construction, manufacturing, and woodworking. This increases the adoption of power tools over hand tools

The construction application segment led the market with a share of 48.6% in 2023. The increasing complexity of construction projects, particularly in commercial developments, necessitates the use of specialized tools and equipment. As construction projects become more complex, the demand for specialized tools grows to meet the evolving needs of builders and contractors

The aerospace & defense segment is expected to register the fastest CAGR from 2024 to 2030. Globalization of the aerospace & defense industry has led to increased competition and collaboration among manufacturers, suppliers, and service providers worldwide. As companies seek to gain a competitive edge & access new markets, they are investing in cutting-edge technologies and innovative tools to improve efficiency, reduce costs, and enhance capabilities

Collaborative partnerships and joint ventures between aerospace & defense companies further accelerate technology development and adoption, driving innovation and fueling demand for advanced tools

The market is highly competitive on account of the presence of many large-scale manufacturers, functioning at a regional or global level with extensive product portfolios. To gain a competitive advantage, these companies undertake strategies, such as expansions, product launches, collaborations, M&As, and R&D

Tools Market Segmentation

Grand View Research has segmented the global tools market based on product, application, and region:

Tools Product Outlook (Revenue, USD Million, 2018 - 2030)

Power Tools

Hand Tools

Tools Application Outlook (Revenue, USD Million, 2018 - 2030)

Oil & Gas

Automotive

Rail

Aerospace & Defense

Construction

Others

Tools Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

Canada

Mexico

Europe

Germany

France

Italy

Spain

Asia Pacific

China

India

Japan

Central & South America

Brazil

Middle East & Africa

Saudi Arabia

Key Players in Tools Market

Emerson Electric Co.

Hilti Corporation

Zhejiang SALI Abrasive Technology Co., Ltd.

Apex Tool Group

Makita Corporation

Stanley Black and Decker Inc.

Robert Bosch GmbH.

Husqvarna AB

Snap-on Incorporated

KOKI HOLDINGS Co., Ltd.

Armstrong Tools Inc,

Falcon Garden Tools Ltd.

Bully Tools

Order a free sample PDF of the Tools Market Intelligence Study, published by Grand View Research.

#Tools Market

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news24-amit · 2 months ago

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Top Players and Market Dynamics in the North America Tools and Ties Industry

The North America Tools and Ties market has been witnessing substantial growth over the past few years, driven by increasing infrastructure development, advancements in manufacturing technologies, and rising consumer demand for durable and efficient tools. From construction sites to automotive repair shops and DIY enthusiasts, the tools and ties market is an essential component of various industries in the region.

Key Drivers of Growth

Boom in Construction Activities The robust construction industry in North America has fueled demand for hand tools, power tools, and fastening ties. Urbanization and infrastructure projects such as highways, bridges, and residential buildings have contributed significantly to the market's expansion.

Industrial Automation and Manufacturing The adoption of advanced manufacturing techniques, coupled with the rise in automation, has increased the demand for specialized tools and ties. Industries such as automotive, aerospace, and energy are investing heavily in high-performance tools for precision work and efficient assembly.

DIY Culture and Home Improvement A growing DIY (Do-It-Yourself) culture, especially during the pandemic, has spurred the demand for tools among hobbyists and homeowners. From woodworking to plumbing and gardening, consumers are investing in high-quality tools for personal use.

Market Segmentation

The tools and ties market can be broadly categorized into:

Hand Tools Products like hammers, wrenches, screwdrivers, and pliers are indispensable in both professional and household settings.

Power Tools Cordless drills, saws, grinders, and sanders are witnessing increased adoption due to their efficiency and convenience.

Fastening Ties Cable ties, zip ties, and other fastening solutions are critical in industries ranging from electrical to construction.

Specialty Tools With growing technological advancements, specialty tools tailored for specific applications, such as electronics repair or automotive diagnostics, are gaining traction.

Challenges

Despite its growth, the market faces several challenges, including:

Supply Chain Disruptions The global supply chain crisis has impacted the availability of raw materials and increased production costs for tools and ties.

Environmental Concerns As sustainability becomes a priority, manufacturers are under pressure to develop eco-friendly tools and packaging solutions.

Market Competition The market is highly competitive, with both established players and new entrants vying for market share. Competitive pricing and innovation are crucial for success.

Trends Shaping the Future

Smart Tools The integration of IoT (Internet of Things) technology in tools is enabling features like remote monitoring, diagnostics, and enhanced precision. Smart tools are becoming a game-changer in professional applications.

Lightweight and Durable Materials The use of advanced materials such as carbon fiber and titanium is making tools more lightweight and durable, improving efficiency for end users.

Sustainable Manufacturing Eco-friendly materials and energy-efficient production processes are shaping the future of the tools and ties market.

Leading Players

Several key players dominate the North America Tools and Ties market, including:

The Container Store, Wayfair, MasterBrand, Inc., Lowe's, Rubbermaid, American WoodMark, Target Brands, Inc., Bed Bath & Beyond, IKEA, ClosetMaid, and others

These companies are continuously innovating to offer a diverse range of products and meet the evolving needs of consumers.

Conclusion

The North America Tools and Ties market is poised for steady growth, supported by technological advancements, a thriving construction sector, and the rising popularity of DIY culture. However, overcoming challenges such as supply chain disruptions and environmental concerns will be critical for long-term success.

As consumers and industries continue to demand efficient, durable, and eco-friendly tools, manufacturers will need to innovate and adapt to stay competitive in this dynamic market.

Transparency Market Research Inc.

CORPORATE HEADQUARTER DOWNTOWN,

1000 N. West Street,

Suite 1200, Wilmington, Delaware 19801 USA

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Website: https://www.transparencymarketresearch.com Email: [email protected]

#Tools and Ties Market

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neli-draws · 2 months ago

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The Future of Self Drilling Screw Manufacturing in India

India’s self-drilling screw manufacturing industry is poised for significant growth, driven by advancements in technology, increasing demand in the construction and automotive sectors, and a growing emphasis on high-quality fasteners. With the adoption of automation, CNC machining, and precision engineering, manufacturers are improving efficiency and meeting international standards. The rise of sustainable practices and eco-friendly materials is also shaping the future of production processes. As infrastructure development accelerates under government initiatives like "Make in India," the demand for durable, corrosion-resistant self-drilling screws is set to soar. Export opportunities are expanding as Indian manufacturers become competitive in global markets. By embracing innovation and addressing challenges like raw material availability, the industry is on track for a promising future.

Introduction to Self Drilling Screws and Their Importance in India’s Manufacturing Industry

Self drilling screw manufacturing in India are an essential component in numerous industrial applications. In India, these screws are widely used across construction, automotive, and electronics sectors due to their ability to drill and fasten simultaneously without the need for pre-drilled holes. As India's infrastructure and manufacturing sectors expand, self-drilling screws have become critical for projects requiring fast and reliable fastening solutions. The growing demand for durable and cost-effective fastening systems has led to a rise in self-drilling screw manufacturing in India, offering both opportunities and challenges for local manufacturers.

The Process of Self Drilling Screw Manufacturing in India: From Raw Material to Finished Product

Self drilling screw manufacturing in India involves a precise and multi-step process. In India, manufacturers begin by sourcing high-quality raw materials like stainless steel, carbon steel, and alloy steel. These materials are then formed into the screw's thread and shaft, after which a drill point is formed at the tip of each screw. The screws undergo heat treatment for strength and durability, followed by a coating process to prevent rust and ensure long-term performance. Indian manufacturers are increasingly adopting advanced machinery and techniques to improve the precision and efficiency of this process, meeting both domestic and international standards.

Market Demand for Self Drilling Screws in India: Growth Factors and Industry Trends

The demand for self-drilling screws in India is on the rise due to the country’s expanding infrastructure, growing construction projects, and booming automotive sector. Self-drilling screws provide several advantages, such as ease of installation, time savings, and cost-effectiveness, making them the preferred choice for contractors and manufacturers. Additionally, the rapid growth of industrial automation and the push for sustainable construction materials further fuel the demand. As industries evolve, the need for high-quality, customizable self-drilling screws is expected to increase, creating vast opportunities for Indian manufacturers to scale their production capacities.

Key Challenges Faced by Self Drilling Screw Manufacturers in India

While India has great potential in the Self drilling screw manufacturing in India, several challenges need to be addressed. One of the primary issues is the rising cost of raw materials, which directly impacts production costs. Additionally, the lack of skilled labor, outdated machinery, and infrastructure limitations can hinder productivity and quality control. The domestic market is also highly competitive, with both local manufacturers and international players vying for market share. Manufacturers must also keep up with evolving global standards and customer preferences, which can require significant investment in technology and innovation.

Technological Advancements in Self Drilling Screw Manufacturing in India

In recent years, technological advancements have played a significant role in enhancing the manufacturing process of self-drilling screws in India. Automation and robotics have been integrated into production lines to increase speed, accuracy, and consistency. CNC (Computer Numerical Control) machines are increasingly being used for precision threading, while automated coating systems ensure uniformity and durability. Manufacturers are also exploring the use of artificial intelligence (AI) and machine learning to predict demand, optimize inventory, and reduce wastage. These technological improvements are helping Indian manufacturers compete with global counterparts and meet the rising demand for high-quality products.

Government Support and Initiatives for Self Drilling Screw Manufacturers in India

The Indian government has implemented several initiatives aimed at boosting domestic manufacturing, including the Make in India campaign. This initiative has provided incentives for manufacturers to invest in local production, reducing dependency on imports and fostering economic growth. Additionally, the government’s push for infrastructure development and “Smart Cities” projects has created a surge in demand for self-drilling screws. Programs like Skill India are also addressing the need for skilled labor in the manufacturing sector, helping to overcome workforce challenges. These efforts are opening up new opportunities for self-drilling screw manufacturers in India to expand their operations and enhance their global competitiveness.

Export Opportunities for Self Drilling Screws Manufactured in India

India's Self drilling screw manufacturing in India industry is not limited to domestic demand. With the country’s reputation for producing high-quality, cost-effective products, there are growing export opportunities in markets such as the Middle East, Africa, Southeast Asia, and Europe. The global construction and automotive industries rely heavily on self-drilling screws, and Indian manufacturers are in a strong position to meet these demands. To tap into international markets, manufacturers must ensure adherence to global quality standards, improve packaging and logistics, and build strong relationships with distributors abroad. Additionally, participating in international trade fairs and exhibitions can help Indian manufacturers expand their export reach.

Conclusion

Self drilling screw manufacturing in India is a growing industry driven by strong demand from construction, automotive, and infrastructure sectors. With the increasing adoption of advanced technologies and government support, Indian manufacturers are well-positioned to address the challenges in the sector and seize new opportunities. While cost pressures, labor challenges, and global competition remain, the potential for growth, both domestically and in export markets, is vast. By embracing technological advancements, investing in skill development, and enhancing production capabilities, self-drilling screw manufacturers in India can not only strengthen their position in the domestic market but also become key players in the global manufacturing landscape.

#Self drilling screw manufacturing in India

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blueweave8 · 2 months ago

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India Brass Market Industry Trends, Analysis, Forecast 2023-2030

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Brass Market size by value at USD 526.68 million in 2023.During the forecast period between 2024 and 2030, BlueWeave expects India Brass Market size to expand at a CAGR of 4.60% reaching a value of USD 711.81 million by 2030. India Brass Market is driven by an increasing demand from the electrical, automotive, and construction industries due to brass's durability, corrosion resistance, and conductivity. Rising number of infrastructure development projects and rapid urbanization further boost demand for brass, particularly in plumbing and fittings. Additionally, growing environmental concerns push for recyclable materials like brass, supporting sustainable growth. Export opportunities, due to India’s skilled manufacturing sector, and rising consumer preference for aesthetic, durable products in home décor also contribute to market expansion.

Sample Request @ https://www.blueweaveconsulting.com/report/india-brass-market/report-sample

Opportunity – Expanding Use of Brass in Industrial Applications

India Brass Market is experiencing robust growth due to the expanding use of brass across various industrial applications. Brass, valued for its durability, corrosion resistance, and electrical conductivity, is in high demand in sectors like automotive, electronics, and construction. Brass’s versatility enables manufacturers to develop components ranging from fittings to electrical connectors, boosting market demand. Additionally, India's industrial growth and government incentives for manufacturing further drive India Brass Market.

Impact of Escalating Geopolitical Tensions on India Brass Market

Escalating geopolitical tensions could impact India Brass Market by increasing raw material costs, supply chain disruptions, and trade uncertainties. Key brass inputs like copper and zinc face price volatility due to trade restrictions and sanctions, challenging manufacturers to maintain cost efficiency. Export demand can decline as global buyers seek stable suppliers, impacting India's export-driven brass industry. Additionally, shifting trade alliances may encourage India to strengthen domestic supply chains, reducing dependence on import-reliant sources for crucial brass components.

Brass Rods Segment Leads India Brass Market

In India Brass Market, the brass rods segment holds the largest share, primarily due to substantial demand across automotive, electrical, and construction sectors. The popularity of brass rods can be attributed to their exceptional durability, corrosion resistance, and ease of machining, making them ideal for producing fasteners, fittings, and architectural hardware. The surge in infrastructure development and the growth of the automotive industry are further amplifying demand for brass rods. Additionally, advancements in manufacturing techniques, along with an increased focus on brass recycling, are driving production efficiencies, which continue to solidify the brass rods segment's prominence in India Brass Market.

Competitive Landscape

India Brass Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Hindalco Industries Limited, Sterlite Technologies Limited, KCP Limited, Rajasthan State Mines and Minerals Corporation (RSMML), Gwalior Steel Limited (GSL), Hind High Vacuum (HHV), Usha Martin Limited, Jai Balaji Alloys Limited, and Bajaj Electricals Limited. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India Brass Market.

BlueWeave Consulting & Research Pvt Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

[email protected]

#India Brass Market

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industrynewsupdates · 3 months ago

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Understanding Power Tools Market: Trends and Growth Drivers

The global power tools market size is anticipated to reach USD 54.39 billion by 2030, expanding at a CAGR of 7.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Demand for compact, flexible, and mobile tools is increasing in the industrial as well as residential applications. Power instruments play a crucial role in reducing manual efforts, especially in heavy duty applications; this is projected to have a positive impact on the market.

Increasing use of the instruments in residential applications is projected to escalate the market towards growth trajectories. The surge in popularity of the Do-it-Yourself (DIY) technique is observed as a trend globally. Moreover, the unavailability of household workers has forced people to take up DIY jobs for household repair and maintenance. House repair, gardening, etc. is easier with the help of user-friendly and ergonomic tools which has led to increased demand for these products. Rising disposable income of the people is also a major factor influencing market growth.

Increased use of fastening instruments in the automotive and construction industry has led to significant adoption of the instruments in the industrial application. Increasing sales of commercial vehicles and growing urbanization drive the demand for the instruments in the automotive and construction sectors. Power instruments offer enhanced efficiency making them the preferred choice of workers in the industrial sectors.

Gather more insights about the market drivers, restrains and growth of the Power Tools Market

Power Tools Market Report Highlights

• Based on product type, wrenches are expected to exhibit a significant growth owing to several household and professional applications and affordable prices

• The electric mode of operation segment dominated the market with the share of 65.30% in 2022. The high revenue share is attributed to the increasing adoption of cordless instruments as they are ergonomic, mobile, and portable

• Based on application, industrial segment held more than 62.84% of the revenue share in 2022 and is expected to continue its dominance throughout the forecast period. Rising number of construction activities across the globe is anticipated to drive the segment growth

• Asia Pacific held the largest market share of 34.63% in 2022 owing to the growth in infrastructure and construction activities in the region

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global specialty printing consumables market size was valued at USD 39.70 billion in 2024 and is expected to grow at a CAGR of 3.2% from 2025 to 2030.

• The global cobalt market size was estimated at USD 16.96 billion in 2024 and is expected to grow at a CAGR of 6.7% from 2025 to 2030.

Power Tools Market Segmentation

Grand View Research has segmented the global power tools market based on product, mode of operation, application, and region:

Power Tools Product Outlook (Revenue, USD Million, 2018 - 2030)

• Drills

• Saws

• Wrenches

• Grinders

• Sanders

• Others

Power Tools Mode Of Operation Outlook (Revenue, USD Million, 2018 - 2030)

• Electric

• Pneumatic

• Others

Power Tools Application Outlook (Revenue, USD Million, 2018 - 2030)

• Industrial

• Residential

Power Tools Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o U.K.

o Germany

o France

• Asia Pacific

o China

o India

o Japan

• Latin America

o Brazil

o Mexico

• Middle East & Africa

Order a free sample PDF of the Power Tools Market Intelligence Study, published by Grand View Research.

#Power Tools Market #Power Tools Market Analysis #Power Tools Market Report #Power Tools Market Size #Power Tools Market Share

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communicationblogs · 4 months ago

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Steel Market — Forecast(2024–2030)

Steel Market — Overview

Steel Market Report Coverage

For More

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

By Type: Carbon Steel, (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel), Stainless Steel (Austenitic Stainless Steels, Ferritic Stainless Steels, Martensitic Stainless Steels, Precipitation Hardening Grade Stainless Steels, Duplex Stainless Steels), Alloy Steel (Chromium Molybdenum Steel, Nickel-Chromium-Molybdenum Steel, Chromium Vanadium Steel, HSLA -Nickel-Chromium-Molybdenum Steel), Tool Steel (Water-hardening tool steels, Shock-resisting tool steels, Cold-work tool steels, Hot-work steels, High-speed tool steels, Others), Others

By Form: Bar, Rod, Tube, Pipe, Plate, Sheet, Structural, Others

By Application: Transportation (Road, Bridges, Barriers, Rail, Tracks, Rail Cars), Construction (Cool Metal (infrared reflecting) Roofing, Purlins, Beams, Pipe, Recyclable steel framing (studs), Desks/Furniture), Packaging (Canes, Bottles, Others), Water Projects (Levees/Dams/Locks), Energy (Renewable, Nuclear, Bio-fuels, Fossil, Electric Grid), Others

By Industry: Construction (Steel Skeletons, Concrete Walls, Pillars, Nails, Bolts, Screws, Others), Machinery (Bulldozers, Backhoe Leaders, Pipelayers, Others), Automotive and Transportation (Exhaust, Trim/Decorative, Engine, Chassis, Fasteners, Tubing For Fuel Lines), Kitchenware and Domestic Appliances (Small Household Appliances, Black Home Appliances, White Home Appliances), Electrical and Electronics (Motor Mount Brackets, Adapter Plates, Electronic Frames and Chassis, Brackets, Others), Healthcare (Orthopaedic Implants, Artificial Heart Valves, Bone Fixation, Catheters, Others), Energy (Scrubbers, Heat Exchangers, Others)

By Region: North America, South America, Europe, Asia-Pacific and Rest of the World

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Key Takeaways

• The Asia-Pacific region, particularly China, has been a dominant force in the global steel market with a share of 63% in 2023, owing to China’s rapid industrialization and urbanization have driven substantial demand for steel in the construction, infrastructure, and manufacturing sectors.

• Government infrastructure spending, particularly in major economies, plays a significant role in driving steel demand. Large-scale infrastructure projects, such as bridges, railways, and urban development initiatives, can create substantial demand for steel products.

For More Details on This Report — Request for Sample

Steel Market Segment Analysis — By Type

In terms of type, the Steel Market is segmented into carbon steel, stainless steel, alloy steel, tool steel and others. In 2023, the Stainless-steel segment generated the greatest revenue of $361.94 billion and is projected to reach a revenue of $482.28 billion by 2030. Owing to the various benefits posed by stainless steel such as corrosion resistance, high and low temperature resistance, the ease of fabrication, strength, aesthetic appeal is one of the key factors for its adoption among various end-use industries, which in turn is boosting its market growth. The stainless-steel segment can be further classified as Austenitic stainless steels, Ferritic stainless steels, Martensitic stainless steels, Precipitation hardening grade stainless steel and Duplex stainless steels.

Steel Market Segment Analysis — By Form

By form, the steel market is segmented into bar, rod, tube, pipe, plate, sheet, structural and others. The bar segment accounted for the major market share in 2023, with a revenue of $554.58 billion, and is forecast to grow at a CAGR of 4.68% by 2030. The increasing demand for steel bar from various end-user industries such as building and construction, bridges, and many others, are driving the growth of the segment during the forecast period of 2024–2030.

Steel Market Segment Analysis — By Application

Steel Market is segmented by its application that includes transportation, construction, packaging, water projects, energy and others. The energy segment held the dominant market share, 31% of the whole market, in 2023, and is expected to maintain its dominance by 2030 with a CAGR of 4.69%. One of the major factors for the segment growth is the increasing awareness and focus towards renewable energy sources. Steel plays a crucial role in producing and distributing energy as well as improving energy efficiency. Renewable energy is further classified as Wind Towers and Foundation, Wind Turbines and Solar Parabolic Mirror Supports & Collectors.

Steel Market Segment Analysis — By Industry

The Steel finds its application across the industries such as construction, machinery, automotive and transportation, kitchenware and domestic appliance, electrical and electronics, healthcare, energy and others. Among them, the construction segment is the largest consumer of steel, as bearable structures can be manufactured easily at a low cost. The property of steel in its various forms and alloys makes it more flexible to cater the exclusive projects integrated with infrastructure. Moreover, the rapid industrialization and urbanization in various developing countries are fueling the segment growth in strengthening its dominant market position during the forecast period.

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Steel Market Segment Analysis — By Geography/Country

The report comprises of the region wise study of the global market including North America, South America, Europe, Asia-Pacific and Rest of the World. Above all, Asia-Pacific region held the biggest share in 2023, up to 63% of the whole steel market owing to the rapidly expanding defense, machinery, automotive, and shipbuilding industries in the countries such as India, China, South Korea, and Japan. Foreign direct investment in energy and infrastructure is likely to provide opportunities for the market vendors. Coupled with favorable government regulations, growing infrastructure and construction activities in developing economies of the Asia-Pacific region are boosting the demand for the market.

Steel Market — Drivers

Growing Demand for Steel Across the Various Regions

Several factors have a significant impact on the overall development of the steel market. The major growth factor driving the Steel Market is the growing demand for steel across a variety of developing regions. For instance, Global crude steel production in January-November 2023 reached 1715.12 million metric tons, marking a marginal 0.5% year-on-year growth, per provisional data from the World Steel Association. November 2023 saw a production of 145.5 million metric tons, up by 3.3% from the previous year. China led the production with 952.14 million metric tons, followed by India and Japan, USA, Russia, South Korea, and Germany.

Construction and Infrastructure Development:

Construction activities, including residential, commercial, and infrastructure projects such as roads, bridges, and railways, are major drivers of steel demand. Urbanization and industrialization also contribute to the growth of the construction sector, thereby increasing the demand for steel products. For instance, as per Green Finance & Development Center, China Belt and Road Initiative (BRI) Investment Report 2023, engagement totalled about USD88.3 billion, with USD44.6 billion from investment and USD43.7 billion from construction contracts. Also, The US Department of Transportation allocates $3.2 billion in extra funding, alongside $4.3 billion from the Bipartisan Infrastructure Law for 2023. The Budget prioritizes $4.5 billion for the Capital Investment Grant program, aiming to bolster transit infrastructure for economic growth. As a result, the steel market is anticipated to thrive, propelled by heightened construction activities and the need for durable materials, reflecting a promising outlook for the industry.

Steel Market -Challenges

Environmental Regulations and Sustainability

The steel industry is facing mounting pressure to tackle environmental issues by cutting carbon emissions and enhancing sustainability efforts. Meeting stringent environmental regulations demands substantial investments in technology and infrastructure, presenting a formidable challenge for many companies. Despite the financial hurdles, embracing these changes can pave the way for a more sustainable and eco-friendly future for the industry.

Steel Market — Competitive Landscape

The companies referred in the study include Baosteel Co., Ltd., Posco Holding Inc, Nippon Steel Corporation, JFE Holdings, Tata Steel Limited, United States Steel Corporation, Anshan Iron and Steel Group Corporation, Hyundai Steel Co., Ltd., ThyssenKrupp AG, ArcelorMittal S.A., among others. Technology launches, acquisitions, and R&D activities are key strategies adopted by the key players in the Steel Market.

Steel Market — Recent Developments

November 2022, Tata Steel launched the fourth edition of MaterialNEXT, focusing on ‘Materials to Wonder.’ This open innovation event aims to gather ideas on emerging materials and their applications. The program spans five months across Idea Selection, Development, and Evaluation stages, fostering collaboration among scientists, researchers, and startups.

May 2022, Kobe Steel introduced “Kobenable Steel,” Japan’s pioneering low CO2 blast furnace steel, aiming to curtail emissions during ironmaking. Utilizing innovative CO2 Reduction Solution technology, it plans to roll out the product this fiscal year, marking a milestone in sustainable steel production.

In June 2023, Nippon Steel introduces ZEXEED™ Checkered Sheet, a new addition to its high corrosion resistant coated steel series

#marketing #digital marketing #research #reseach marketing #chemicals #steelers

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market-insider · 4 months ago

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Industrial Fasteners Market: Detailed Insights on Size, Share, and Growth Potential

The global industrial fasteners market size is expected to reach USD 131.45 billion by 2030, growing at a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to be driven by factors such as the increasing population, significant investments in the construction industry, and rising demand in industries like aerospace and automotive.

Industrial fasteners are available in two major types: metal and plastic. Metal fasteners dominate the industry; however, they are expected to witness lower growth than their counterparts owing to the increasing penetration of materials like plastic in applications such as aerospace and automotive due to their high corrosion resistance and lightweight characteristics.

Industrial Fasteners Market Report Highlights

Externally threaded industrial fasteners accounted for 48.08%, the largest revenue market share in 2023. High investments in the region's agriculture, construction, and mining sectors are expected to propel the demand for heavy equipment such as material handling, excavation, drilling, hauling, paving, grading, and lifting machinery over the projected period

Metal fasteners are expected to grow at a CAGR of 4.6% over the projected period. They offer high mechanical strength and impact resistance and are less susceptible to harsh conditions such as high temperature and pressure, which is expected to drive the demand over the forecast period

The Asia Pacific market is estimated to witness the fastest growth at a CAGR of 6.2% from 2024 to 2030, owing to the growth in the region's infrastructure sector, which is expected to propel the market. Furthermore, automotive, industrial machinery and electronics applications will drive the regional market for industrial fasteners

Automotive applications of industrial fasteners accounted for about USD 28.61 billion in 2023. High production volumes of automotive vehicles across the Asia Pacific have been a key factor driving the industry's growth over the past few years. Metal has dominated the segment over the past few decades. However, the rising popularity of plastic fasteners, owing to their lightweight and low cost, is expected to drive the industry's growth

The market is highly competitive and consists of several global and regional players. As the need for creative and application-specific fastener designs rises, opportunities for new players are anticipated. Rising raw material costs and high-volume production by established competitors are anticipated to be major obstacles for new entrants

For More Details or Sample Copy please visit link @: Industrial Fasteners Market Report

The market is highly competitive due to the presence of many manufacturers. A major challenge faced by the competitors is the fluctuation of raw material prices; hence, a high degree of backward and forward integration is likely to be observed among the major players in the market. This will further intensify the market rivalry and competition, making it difficult for emerging players to sustain themselves.

The growth of building & construction industry and product penetration in the market directly influence the demand for industrial fasteners. Asia Pacific is expected to witness the highest growth owing to the rapid expansion and magnitude of the construction industry in countries such as India and China. The growing population and high investments in the construction sector are the key factors driving the construction industry in these countries, which, in turn, is projected to boost the market growth over the forecast period.

Major industrial fastener manufacturing companies are established in North America and Asia Pacific; as a result, the global supply shortage for industrial fasteners provides a great business opportunity for players in these regions. Asia Pacific is expected to be the preferred market for fastener manufacturers due to high product demand and lower costs associated with raw materials, labor, land, and power.

List of major companies in the Industrial Fasteners Market

Illinois Tool Works, Inc.

Arconic Fastening Systems and Rings

Hilti Corporation

LISI Group - Link Solutions for Industry

Nifco Inc

MW Industries, Inc.

Birmingham Fastener and Supply, Inc.

SESCO Industries, Inc.,

Elgin Fastener Group LLC

Slidematic

Dokka Fasteners A S

Manufacturing Associates, Inc.

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We have segmented the global industrial fasteners market report based on raw material, product, application, and region.

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trendingreportz · 5 months ago

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Steel Market - Forecast(2024 - 2030)

Steel Market - Overview

The Steel market is analyzed to be $1,746.35 billion in 2023 and is projected to reach $2,105 billion in 2030. The market is estimated to grow with a CAGR of 4.13% during 2024-2030. Steel is an alloy that is made up of iron ore or scrap steel and carbon. In general, steels have various unique properties including being non-corrosive, rust-resistant and heavier than other metals such as aluminum. Therefore, steel is extensively used in various end-use industry verticals, including the manufacturing various transportation and automobile components, medical equipment, metal surgical implants, structural components and more, which in turn is boosting its market growth. In recent years, the steel market has experienced fluctuations driven by several factors. One significant trend in the steel market is the impact of trade policies and tariffs. Trade tensions between major steel-producing nations, such as the United States, China, and the European Union, have led to shifts in supply chains and pricing dynamics. Tariffs imposed on steel imports have affected the competitiveness of domestic producers and influenced global trade patterns. Additionally, sustainability concerns and environmental regulations have influenced market dynamics. Increasing awareness of carbon emissions and the environmental footprint of steel production has led to a growing demand for greener steel products. This has prompted investments in cleaner production technologies such as electric arc furnaces and the development of recycled steel. Moreover, technological advancements and innovations in steel manufacturing processes have enhanced efficiency and product quality. As a result, the steel market is poised for sustained growth as global economic recovery accelerates, with innovations in technology and sustainability shaping future trends.

Steel Market Report Coverage

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

By Form: Bar, Rod, Tube, Pipe, Plate, Sheet, Structural, Others

By Region: North America, South America, Europe, Asia-Pacific and Rest of the World

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Key Takeaways

• The Asia-Pacific region, particularly China, has been a dominant force in the global steel market with a share of 63% in 2023, owing to China's rapid industrialization and urbanization have driven substantial demand for steel in the construction, infrastructure, and manufacturing sectors.

• The automotive sector is a significant consumer of steel, particularly in the production of vehicles. Changes in consumer demand for automobiles, as well as shifts towards electric vehicles which may use different materials, can impact steel demand in this sector.

Steel Market Segment Analysis – By Type

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Steel Market Segment Analysis – By Form

Steel Market Segment Analysis – By Application

Steel Market Segment Analysis – By Industry

Steel Market Segment Analysis - By Geography/Country

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Steel Market - Drivers

Growing Demand for Steel Across the Various Regions

Construction and Infrastructure Development:

Steel Market -Challenges

Environmental Regulations and Sustainability

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Steel Market - Competitive Landscape

Steel Market - Recent Developments

November 2022, Tata Steel launched the fourth edition of MaterialNEXT, focusing on 'Materials to Wonder.' This open innovation event aims to gather ideas on emerging materials and their applications. The program spans five months across Idea Selection, Development, and Evaluation stages, fostering collaboration among scientists, researchers, and startups.

May 2022, Kobe Steel introduced "Kobenable Steel," Japan's pioneering low CO2 blast furnace steel, aiming to curtail emissions during ironmaking. Utilizing innovative CO2 Reduction Solution technology, it plans to roll out the product this fiscal year, marking a milestone in sustainable steel production.

In June 2023, Nippon Steel introduces ZEXEED™ Checkered Sheet, a new addition to its high corrosion resistant coated steel series

#steel market #steel market size #steel market shape #steel market forecast #steel market analysis #steel market report #steel market growth

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ujumrfr · 6 days ago

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jinnoxbolt · 5 months ago

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Fasteners Manufacturers in India: A Growing Industry Powering Global Markets

Jinnox Bolt is one of the leading Fasteners Manufacturers in India. We supply fasteners made of different materials, including Stainless steel, Carbon steel, High tensile, Inconel, Monel, and Hastelloy. We are a top Fasteners Suppliers in India We also provide customized solutions to clients by delivering top-notch quality and other types of fasteners with specified qualities.

India’s fasteners manufacturing industry is one of the key sectors driving the nation's industrial growth. From automotive to construction, and from aerospace to infrastructure development, fasteners play a crucial role across a wide range of industries. The rise of Indian fasteners manufacturers over the years has been nothing short of remarkable, and today the country stands as a significant player in the global fasteners market.

Overview of the Fasteners Industry in India

Fasteners are components used to mechanically join two or more objects together. They include a variety of items like nuts, bolts, washers, rivets, screws, and specialized parts. In India, the fasteners industry can be broadly divided into two categories: industrial fasteners and automotive fasteners. The latter accounts for a significant share, driven by the growing demand from the automotive sector.

The Indian fasteners industry is currently valued at approximately $4 billion, and this figure is expected to grow significantly in the coming years. The reasons behind this growth are manifold – increasing infrastructure projects, growing domestic automotive production, and a surge in demand from overseas markets. Additionally, government initiatives like "Make in India" have further bolstered manufacturing capabilities, encouraging both domestic and foreign investments in this sector.

Major Hubs for Fasteners Manufacturing in India

India's Fastener Manufacturers are concentrated in a few key regions that have evolved into industrial hubs over the years. These include:

Ludhiana, Punjab: Known as the “fasteners capital” of India, Ludhiana houses a large number of small and medium enterprises (SMEs) involved in manufacturing fasteners. This region accounts for a significant share of the fasteners production in the country, especially for the automotive and bicycle industries.

Pune, Maharashtra: Pune is an important industrial hub, especially for automotive fasteners. The presence of major automobile companies in and around Pune has attracted many fasteners manufacturers to set up production facilities here.

Gurgaon, Haryana: Another key center for automotive fasteners, Gurgaon’s proximity to the National Capital Region (NCR) makes it an attractive location for fasteners manufacturers catering to the automotive and construction sectors.

Rajkot, Gujarat: Rajkot is emerging as a growing hub for fasteners, with manufacturers here focusing on producing precision fasteners that cater to both domestic and international markets.

Fasteners Products We Manufactured

Bolt Manufacturers in India

Nut Manufacturer in India

Washers Manufacturer in India

Threaded Rod Manufacturers in India

Screw Manufacturer in India

Coated Fasteners Manufacturer in India

Key Factors Driving the Growth of Fasteners Manufacturing in India

Several factors have contributed to the rapid growth of the Fastener Manufacturers in India:

Increased Demand from the Automotive Sector: India is one of the largest automobile manufacturers in the world. The demand for automotive fasteners has skyrocketed, especially with the rapid adoption of electric vehicles (EVs). Fasteners play a crucial role in EV assembly, and Indian manufacturers have stepped up to meet this demand.

Infrastructure Development: Massive infrastructure projects across the country, including highways, bridges, and metro systems, have significantly increased the demand for industrial fasteners. Fasteners are essential components in construction, and the ongoing urbanization and industrialization efforts in India are fueling this demand further.

Government Support and Initiatives: The Indian government’s focus on boosting manufacturing under the “Make in India” initiative has provided a boost to the fasteners sector. Policies promoting ease of doing business, tax benefits, and incentives for manufacturers have helped attract both domestic and foreign investment.

Export Growth: India has emerged as a key exporter of fasteners to markets in Europe, North America, and the Middle East. Indian manufacturers are recognized for producing high-quality fasteners at competitive prices, which has helped expand their footprint in global markets. Countries like the United States, Germany, and the UAE are some of the major importers of Indian fasteners.

Future Outlook

The future of Fasteners Suppliers in India looks promising. With continued investment in infrastructure, a robust automotive industry, and growing demand for exports, the industry is poised for sustained growth. Technological advancements and the adoption of Industry 4.0 practices will likely play a pivotal role in shaping the future of fasteners manufacturing in India.

In conclusion, the Fasteners Suppliers sector in India is not only an integral part of the country’s industrial ecosystem but also a growing player on the global stage. By addressing key challenges and capitalizing on emerging opportunities, Indian fasteners manufacturers are set to continue their growth trajectory in the years to come.

#Fasteners Manufacturers in India #fasteners #fastener supplier

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rpmarketresearch · 6 months ago

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Washer Industry: Types, Applications, Market Players, Regional Growth Analysis, and Future Scenarios (2023 - 2030)

Washer Market Scenario and Scope

The Washer Market is projected to grow from USD 1.80 Billion in 2022 to USD 2.10 Billion by 2030, at a CAGR of 1.99% during the forecast period.

Get a Sample PDF of the Report: https://www.reportprime.com/enquiry/sample-report/327

Market Trends Influencing the Washer Market

Key trends driving the washer market include:

Increasing Household Incomes: Enhanced purchasing power drives demand for efficient appliances.

Rising Consumer Awareness: Growing preference for energy-efficient and high-performance washers.

Surge in Housing Projects: Expanding housing sector boosts washer demand.

Front-Loading Machines Popularity: Higher efficiency and energy-saving advantages increase their adoption.

Demand for Intelligent Washing Machines: Technological advancements and smart appliances contribute to market growth.

Get a Sample PDF of the Report: https://www.reportprime.com/enquiry/sample-report/327

Washer Market Segment Analysis

Washer Market, by Type:

Plain

Spring

Locking

Others

Washers include various types such as plain, spring, locking, and others, catering to different industrial and commercial needs.

Inquire or Share Your Questions If Any Before Purchasing This Report https://www.reportprime.com/enquiry/pre-order/327

Washer Market, by Application:

Automotive

Electronics

Machinery

Construction

MRO (Maintenance, Repair, and Operations)

Others

Applications of washers span across automotive, electronics, machinery, construction, MRO, and other sectors, driving the market in diverse industries.

Washer Competitive Analysis

Würth

Bossard

Shanghai PMC

Nord-Lock

Fontana Gruppo

Schnorr

Growermetal

STANLEY

Ciser

MW Industries

PCC

LISI

HEICO

Gem-Year

Mubea

Aoyama Seisakusho

Araymond

ITW Shakeproof

TR Fastenings

Boltun Corporation

Key players such as Würth, Bossard, and Shanghai PMC lead the market in production and innovation, influencing global trends and competition.

Buy this Report: https://www.reportprime.com/checkout?id=327&price=3590

Regulatory and Legal Factors

The washer market is affected by various regulatory and legal factors, including import-export laws, product standards, environmental regulations, safety regulations, and government initiatives. These factors vary by region and impact market conditions, pricing, and distribution of washers and related products.

#washer market #market analysis #market research #market trends

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businessindustry · 6 months ago

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Vacuum Sucker Market Size, Trends, Forecast to 2032

The Reports and Insights, a leading market research company, has recently releases report titled “Vacuum Sucker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Vacuum Sucker Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Vacuum Sucker?

The global vacuum sucker market size reached US$ 730.8 million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,245.2 million in 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.

What are Vacuum Sucker Market?

A vacuum sucker, or vacuum suction cup, is a device that utilizes negative air pressure to generate a firm grip on a surface. Constructed from flexible materials such as rubber or silicone, it works by removing air from between the sucker and the surface to create a vacuum seal. This seal enables the vacuum sucker to lift, hold, or move objects securely without the need for mechanical fasteners or adhesives. Widely used across industries like manufacturing, logistics, and automotive, vacuum suckers are crucial for handling delicate or heavy items and for automating material handling tasks.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1901

What are the growth prospects and trends in the Vacuum Sucker Market industry?

The vacuum sucker market growth is driven by various factors and trends and factors. The vacuum sucker market is growing rapidly, driven by its crucial applications in manufacturing, logistics, and automotive industries. The increasing need for automation and efficient material handling solutions fuels this growth, as vacuum suckers provide a reliable method for lifting, moving, and positioning objects without the use of mechanical fasteners or adhesives. Technological advancements, such as more durable and versatile suction cups, are also contributing to market expansion. Furthermore, the focus on enhancing production processes and reducing manual labor is boosting the adoption of vacuum suckers across various sectors. Hence, all these factors contribute to vacuum sucker market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Electric Vacuum Suckers

Pneumatic Vacuum Suckers

Hybrid Vacuum Suckers

By End-Use Industry:

Automotive

Electronics

Food & Beverage

Packaging

Pharmaceutical

Logistics & Warehousing

Others

By Application:

Material Handling

Assembly & Robotics

Pick & Place

Packaging & Palletizing

Inspection & Testing

Others

By Sales Channel:

Direct Sales

Distributors/Wholesalers

E-commerce

Global Market Segmentation by Region:

North America:

United States

Canada

Europe:

Germany

United Kingdom

France

Italy

Spain

Russia

Poland

BENELUX

NORDIC

Rest of Europ

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

Piab AB

Schmalz Inc.

Festo AG & Co. KG

SMC Corporation

Aventics GmbH

VACUUBRAND GMBH + CO KG

Vaccon Company, Inc.

SMC Corporation of America

Pneumadyne, Inc.

Schmalz GmbH

Vuototecnica S.p.A.

DESTACO, a Dover Company

ANVER Corporation

AERO-LIFT Vakuumtechnik GmbH

VMECA Co., Ltd.

Discover more: https://www.reportsandinsights.com/report/Vacuum Sucker-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

Reports and Insights consistently mееt international benchmarks in the market research industry and maintain a kееn focus on providing only the highest quality of reports and analysis outlooks across markets, industries, domains, sectors, and verticals. We have bееn catering to varying market nееds and do not compromise on quality and research efforts in our objective to deliver only the very best to our clients globally.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Reports and Insights Business Research Pvt. Ltd. 1820 Avenue M, Brooklyn, NY, 11230, United States Contact No: +1-(347)-748-1518 Email: [email protected] Website: https://www.reportsandinsights.com/ Follow us on LinkedIn: https://www.linkedin.com/company/report-and-insights/ Follow us on twitter: https://twitter.com/ReportsandInsi1

#Vacuum Sucker Market Size #Vacuum Sucker Market Share #Vacuum Sucker Market Demand #Vacuum Sucker Market Analysis

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industrynewsupdates · 5 months ago

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Automotive Adhesive Tapes Market Segmentation and Competitive Analysis Report 2024-2030

The global automotive adhesive tapes market size was estimated at USD 3.62 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030.

Rapid replacement of nut bolt fasteners to reduce vehicle weight and improve aesthetics is expected to drive the tapes market over the forecast period. The market is likely to witness a growing demand from aftermarket sales as vehicle modifications and performance enhancements are considerably upscaling. Asian economies including Japan, South Korea, China, and India are anticipated to hold the majority of the electric vehicle production shares in the upcoming period. This is supported by a robust manufacturing industry, resource availability, skilled & low labor cost, and the presence of prominent automakers in the region. Technological developments by major automobile manufacturers in Europe and North America are expected to provide momentum to the market.

Gather more insights about the market drivers, restrains and growth of the Automotive Adhesive Tapes Market

The market for automotive adhesive tapes is anticipated to grow at a strong growth rate predicted over the projection period, owing to the economic recovery in most emerging countries. The frequent suspension of public transportation, along with the virus's highly infectious nature, fueled demand for passenger automobiles, driving the demand for automotive adhesive tape products. However, unexpected circumstances resulting from the pandemic's third and subsequent waves are reflecting a gloomy picture.

The global automotive market is witnessing switching trends with growing popularity and demand for electric vehicles. Prominent vehicle manufacturers are aiming to comply with environmental standards and emission norms by reducing vehicle pollutants at a significant level. Thus, battery-operated vehicles including cars, mini trucks, and others are gaining popularity across the globe which in turn are expected to positively impact the tapes market.

There has been a positive outlook in the automotive sector across developed markets such as the U.S. to developing markets such as India. Technological developments and performance enhancements in vehicles have led to the installation of specialized components, which is expected to have a positive impact on the automotive tapes market.

The global automotive industry is growing at a rapid pace on account of accelerating technological transformations such as the introduction of no-petroleum-based fuel or hybrid vehicles, autonomous driving, and new mobility services. The industry is expected to witness significant growth owing to the increasing sales and demand in the emerging economies of India, China, and Brazil, thus exhibiting positive growth potential for the tapes industry.

Automotive Adhesive Tapes Market Report Segmentation

Grand View Research has segmented the automotive adhesive tapes market on the basis of application, adhesive chemistry, backing material, and region:

Application Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

• Wire Harnessing

• Powertrain

• Acoustic Insulation

• Interior Attachment

• Exterior Attachment

• Electronics

• Chassis & Wheels

Adhesive Chemistry Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

• Solvent-based Adhesives

• Emulsion-based Adhesives

• Hot Melt Adhesives

• Radiation Adhesives

Backing Material Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

• Polypropylene

• Polyvinylchloride

• Paper

• Others

Regional Outlook (Volume, Million Square Meters, Revenue, USD Billion; 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o France

o UK

o Italy

o Spain

• Asia Pacific

o China

o India

o Japan

o South Korea

• Central & South America

o Brazil

o Argentina

• Middle East & Africa

o South Africa

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global automotive exterior market size was valued at USD 14.19 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2030.

• The global aerosol actuators market size was valued at USD 1.31 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2030.

Key Companies & Market Share Insights

The key players in the industry are investing in understanding the emerging subsegment application in automotive. In addition, they are also trying to understand the key specifiers and selection criteria for tapes for these new applications to gauge the expected market potential in the future and employ their growth strategies accordingly.

• In July 2023, Berry Global launched a next-gen version of its flagship Formifor insulation compression films by combining over 30% of recycled materials. The use of recycled content in the film is projected to contribute toward sustainability efforts in automotive manufacturing.

• In April 2023, Berry Global Group, Inc. commenced the expansion of one of its significant manufacturing facilities for stretch films in Lewisburg, Tennessee. The facility is planned to be completed by early 2024 and it will support the proliferating demand for the company’s sustainable, highest-performing stretch films, which also include adhesive tapes for diverse industries.

• In February 2023, L&L Products, Inc., announced its plans to expand its production footmark in the Village of Romeo, Michigan for accommodating the automobile industry’s finished goods. The project is anticipated to confirm the continued business growth of the company in Michigan.

Key Automotive Adhesive Tapes Companies:

The following are the leading companies in the automotive adhesive tapes market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these automotive adhesive tapes companies are analyzed to map the supply network.

• L&L Products, Inc.

• Sika Automotive AG

• The 3M Company

• Nitto Denko Corporation

• Lida Industry Co, Ltd.

• ThreeBond Co., Ltd.

• PPG Industries

• ABI Tape Products

• Adchem Corporation

• Avery Dennison Corporation

• Saint Gobain

• Berry Plastics

• tesa SE

• Lintec Corporation

Order a free sample PDF of the Automotive Adhesive Tapes Market Intelligence Study, published by Grand View Research.

#Automotive Adhesive Tapes Market #Automotive Adhesive Tapes Industry #Automotive Adhesive Tapes Market size #Automotive Adhesive Tapes Market share

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creativeera · 7 months ago

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Bolts Market Poised to Witness High Growth Due to Rising Construction Industry

The bolts market has been gaining significant traction over the years, owing to their widespread application in construction, machinery, automotive, and other industrial sectors. Bolts are essentially threaded fasteners that join or fix two or more pieces together by means of their own threads fitting exactly into mating threads. They provide mechanical advantage and act as inexpensive and durable connectors for applications involving stresses from various kinds of loading. Some key advantages of bolts include ease of installation, high strength, reliability, and longevity. With rapid infrastructure development and rising construction spending globally, the demand for bolts from the construction industry has been increasing substantially. The global bolts market is estimated to be valued at US$ 9.56 billion in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the bolts market are 3M, Reckitt Benckiser Group PLC, Procter & Gamble, Cantel Medical Corporation, The Clorox Company, Ecolab, SC Johnson Professional, Whiteley Corporation, and Steris PLC. These companies collectively account for a significant share of the market. The Bolts Market Growth is expected to witness lucrative opportunities owing to rising investments in public infrastructure projects across developing nations. Furthermore, ongoing industrialization and growth of manufacturing industries will further propel the demand. Globally, the Asia Pacific region dominates the bolts market and is expected to maintain its leading position throughout the forecast period. This can be attributed to rapid urbanization, growing construction activities, and expansion of manufacturing industries in China, India, and other Southeast Asian countries. North America and Europe are other major markets for bolts. Market Drivers The primary driver aiding the growth of the bolts market is the strong performance of the global construction industry. Rapid infrastructure development projects around the world, especially in developing regions, are significantly driving the consumption of bolts. According to estimates, the global construction industry is expected to grow at over 4% annually until 2031. This rising construction spending will continue to generate high demand for bolts for various building structure assemblies and machinery installation. The booming manufacturing industry and increasing automotive production will further augment the market for bolts during the forecast period.

PEST Analysis Political: The bolts market is regulated by govermamt standards and norms regarding materials, sizes of bolts to ensure safety. Recently some regulations were modified regarding use of certain metal alloys. Economic: The steady growth of automotive and construction industries fosters demand for bolts. However, rising raw material prices may impact bolts manufacturers. Social: People are more aware now about quality and durability of products. They prefer branded bolts for peace of mind. Technological: Companies are using advanced methods like 3D printing, robotics for bolts production to improve quality and yield. Some are developing bolts with sensors for IoT-enabled machinery. North America accounts for around 35% of the global bolts market value owing to large scale infrastructure projects and strong automotive industry in the US and Canada. Western Europe is the second largest regional market led by Germany, France and UK. Asia Pacific region is witnessing the fastest growth in bolts market value during the forecast period. This is attributed to rapid urbanization and industrialization activities in China and India. Both countries are major automotive and construction hubs globally. Additionally, governments of various Asian countries are investing heavily in development of road, rail and building infrastructure which spur the demand for construction fasteners including nuts, bolts and screws.

Get more insights on Bolts Market

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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#Coherent Market Insights #Bolts Market #Bolts #Fasteners #Hardware #Mechanical components #Construction #Metalworking #Engineering #Industrial supplies #Threaded fasteners #Nuts and bolts

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spookysaladchaos · 8 months ago

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Duct Tapes, Global Market Size Forecast, Top 10 Companies Rank and Market Share

Duct Tapes Market Summary

According to the new market research report “Global Duct Tapes Market Report 2024-2030”, published by QYResearch, the global Duct Tapes market size is projected to reach USD 3.07 billion by 2030, at a CAGR of 5.0% during the forecast period.

Figure. Global Duct Tapes Market Size (US$ Million), 2019-2030

Figure. Global Duct Tapes Top 10 Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)

According to QYResearch Top Players Research Center, the global key manufacturers of Duct Tapes include 3M, Shurtape, Tesa, Berry, Coroplast, Pro Tapes & Specialties, Bolex (Shenzhen) Adhesive, PPM, Intertape, Vibac, etc. In 2023, the global top 10 players had a share approximately 33.0% in terms of revenue.

The global duct tapes market is driven by several factors while facing certain challenges.

Drivers:

Wide Range of Applications: Duct tapes find applications across various industries and sectors, including construction, automotive, electrical, packaging, HVAC (Heating, Ventilation, and Air Conditioning), and DIY (Do-It-Yourself) projects. Their versatility and ability to adhere to a variety of surfaces make them indispensable in many applications, driving market demand.

Convenience and Ease of Use: Duct tapes are known for their ease of use and convenience. They can be torn by hand, require no special tools for application, and provide instant adhesion to most surfaces. This convenience factor makes duct tapes a popular choice for quick repairs, temporary fixes, and emergency situations.

Strength and Durability: Duct tapes are valued for their strength, durability, and resistance to moisture, abrasion, and harsh environmental conditions. They provide reliable bonding and sealing solutions for a wide range of applications, including patching leaks, bundling cables, securing components, and reinforcing structures.

Cost-effectiveness: Duct tapes offer a cost-effective solution for various repair and maintenance tasks compared to alternative adhesive products or mechanical fasteners. Their relatively low cost per unit and high performance make them economically attractive for both consumers and businesses, driving market demand.

Innovation in Product Development: Manufacturers continuously innovate to introduce duct tapes with enhanced features and performance characteristics, such as higher tensile strength, improved adhesion on challenging surfaces, UV resistance, and temperature resistance. These innovations cater to specific application requirements and contribute to market growth.

Challenges:

Competition from Alternative Products: Duct tapes face competition from alternative adhesive products, such as specialty tapes, sealants, adhesives, and mechanical fasteners. The availability of alternative solutions with specific performance attributes or tailored for niche applications may impact market share and demand for duct tapes.

Quality and Performance Variability: Quality and performance may vary among different brands and types of duct tapes, leading to concerns about reliability, longevity, and effectiveness in specific applications. Inconsistent quality or performance failures may erode consumer confidence and affect market growth.

Environmental Concerns: Some duct tapes contain synthetic adhesives and backing materials that may raise environmental concerns related to disposal and recycling. Manufacturers are under pressure to develop eco-friendly alternatives using biodegradable materials or environmentally sustainable production practices to address these concerns and comply with regulations.

Counterfeit Products and Brand Reputation: The proliferation of counterfeit duct tapes in the market poses challenges for legitimate manufacturers in terms of brand reputation, consumer trust, and revenue losses. Counterfeit products may not meet quality standards and performance expectations, jeopardizing consumer safety and confidence in genuine brands.

Regulatory Compliance: Manufacturers must comply with regulatory requirements and standards governing the production, labeling, packaging, and marketing of duct tapes to ensure product safety, quality, and performance. Compliance with regulations such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and RoHS (Restriction of Hazardous Substances) adds complexity and costs to manufacturing operations.

About The Authors

Yang Min - Lead Author

Email: [email protected]

Yang Min is a market senior analyst specializing in chemical materials. Yangmin has 8 years’ experience in chemical materials market analysis, and focuses on chemical materials and API. He engaged in the development of technology and market reports and is also involved in custom projects.

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

#Duct Tapes

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