Permanent Magnets Market Hits $31.18 Billion By 2020: Grand View Research, Inc.

The global market for permanent magnets is expected to reach USD 31.18 billion by 2020, according to a new study by Grand View Research, Inc. Growth of global automobile industry is expected to be a key driving factor for permanent magnets market over the forecast period. Permanent magnets are widely used for numerous applications in automobile industry. Various components such as motors, alternators and gearbox require permanent magnets for their mechanism. Grand View Research further observes that the shift in trend towards developing renewable energy generation including solar and wind energy is also expected to drive the market for permanent magnets. Permanent magnets are used in the stator of the wind turbine which is responsible for producing AC electricity.
Ferrite magnets dominated the global market, accounting for over 80% of total volumes in 2012. However, in terms of revenue, ferrite magnets accounted for just over 20% of the total revenue for the same year. Ferrite magnets are relatively cheaper than other permanent magnets such as NdFeB magnets, SmCO and Alnico magnets and hence account for a relatively smaller revenue share in the overall market. NdFeB is expected to be the fastest growing product segment, at an estimated CAGR of 9.4% from 2013 to 2020. Growing awareness regarding the benefits offered by NdFeB over other magnets in high performance automotive applications is expected to drive its demand over the forecast period.

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 Global permanent magnets volume share, by product, 2012

Further Key findings from the study suggest:

• Global permanent magnets demand is expected to reach 1,262.6 kilo tons by 2020 growing at a CAGR of 8.6% from 2013 to 2020
• Automotive industry emerged as the leading application market for permanent magnets and accounted for approximately half of the total consumption in 2012. However, the shift in trend towards adoption of renewable energy including wind energy has helped energy generation to become the most attractive market for permanent magnets. Energy generation is expected to be the fastest growing application market for permanent market at an estimated CAGR of 9% from 2013 to 2020
• Asia Pacific dominated the overall market for permanent magnets and accounted for 80% of the total consumption in 2012. China alone accounted for 65% of world’s demand for permanent magnets in 2012, consolidating its position as the leading permanent magnets producer as well as consumer, on account of huge rare earth metals deposits in the country which are available at an affordable price for domestic industries
• China is expected to continue its dominance in the global market with its government announcing plans to increase permanent magnets capacity in the nation by 20 kilo tons by 2015
• The global market for permanent magnets is highly fragmented with a large number of small Chinese manufacturers operating in the market. These small manufacturers pose threat to large manufacturers in terms of their price offerings. Some of the major companies operating in the global market for permanent magnets include Adams Magnetic Products Co., Hangzhou Permanent Magnet Group, Anhui Earth-Panda Advance Magnetic Material Co. Ltd and Hitachi Metals Ltd., Molycorp Magnequench and Shin-Etsu Chemical Co. Ltd among some other companies

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For the purpose of this study, Grand View Research has segmented the global permanent magnets market on the basis of product, application and region:

Permanent Magnets Product Outlook,

• Ferrite
• Neo (NdFeB)
• SmCO
• Alnico 

Permanent Magnets Application Outlook,

• Automotive
• Electronics
• Energy Generation 
• Other

Permanent Magnets Regional Outlook,

• North America
• Europe
• China
• Rest of Asia Pacific
• Rest of the World

Prescription/Rx Sunglass Market Hits $3.76 Billion By 2022: Grand View Research, Inc.

The global prescription/Rx sunglass market is expected to reach USD 3.76 billion by 2022, according to a new report by Grand View Research. Increasing penetration of superior optics with ultra light weight and high strength properties is expected to drive the prescription sunglass market over the forecast period. Considerable increase in the number of internet users has drastically boosted online purchasing of these products, which is projected to positively impact demand.
Emerging new product streams along with changing consumer demographics are expected to drive gains. In addition, growing coverage for vision care with recent healthcare initiatives has expanded pool of insured eye care. Technological advancements are largely expected to impact the prescription sunglass market in both lens material and lens design adoption.
Growing global population and vision deficiency has opened up several new opportunities for Rx sunglass market manufacturers and retailers. Growing popularity of internet based sales transactions due to widespread adoption of e-commerce industry is expected to increase the revenue inflow from the cyberspace over the forecast period.

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U.S. prescription sunglass market by lens material, 2012 – 2022 (USD Million)

 

Further key findings from the report suggest:

• Global prescription sunglass market was estimated at 29.3 million units in 2014, which is expected to grow at a CAGR of 3.8% from 2015 to 2022.
• CR-39 materials segment accounted for over 35% of the overall industry in 2014. This low-cost material is mainly manufactured in countries such as China, Japan, and India. Light weight, high durability and reliability properties has aided the demand over the past few years. Glass is becoming an obsolete material used in the eyewear industry, with demand expected to decline over the forecast period.
• Polycarbonate accounted for over 25% of the overall share in 2014 and is expected to grow at a CAGR of 3.4% in terms of revenue from 2015 to 2022. These materials are more impact resistant than CR-39. Growing demand on account of extensive adoption in emerging countries is expected to favorably impact the demand over the next seven years.
• Trivex prescription sunglass market is expected to grow significantly over the forecast period. Increasing digitization in production and development is anticipated to positively impact shipments. The industry is characterized by advancements in the field of optics, metallurgy, plastics, and other areas.
• Asia Pacific prescription sunglass industry accounted for over 20% of the global revenue in 2014, and is expected to witness substantial growth. Europe is expected to continue leading revenue generation owing to the presence of high-end manufacturing brands in the region.
• Notable players operating in the prescription sunglass market include Fielmann, Luxottica, Safilo, Essilor, and CooperVision. Existing retailers in the industry have the potential to integrate backward into the manufacturing sector, thus attempting to establish their presence across the value chain. There are a number of avenues and distribution channels for the purchase of prescribed glasses with high quality, where cost remains the deciding factor. Vendors are placing emphasis on competent distribution channels which will be critical for competitive advantage.

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Grand View Research has segmented the prescription/Rx sunglass market on the basis of lens material and region:

Prescription Sunglass Lens Material Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2022)

• CR-39
• Polycarbonate
• Polyurethane
• Glass
• Others

Prescription Sunglass Regional Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2022)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• MEA

Technical Textiles Market Analysis, Size, Segment To 2022 by Grand View Research, Inc.

The global technical textiles market is expected to reach USD 193.16 billion by 2022, according to a new report by Grand View Research, Inc. Growth of key end-use industries such as agriculture, construction, packaging and automotive in BRIC nations is expected to remain a key driving factor for global technical textiles market. Being one of the most innovative branches of industry across the world is expected to create new avenues for market participants. Introduction of environmental regulations on conventional petroleum based technical textiles usage directly impacted the global market. Technical textiles are used in almost all modern industries including furniture, automotive, footwear, textiles and others.
3D weaving was the leading technology and accounted for 25.2% of total market volume in 2014. Nanofiber is expected to witness the highest growth of 4.1% from 2015 to 2022. Growth of nanotechnology across various end-use industries is expected to drive this segment over the forecast period.

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 North America technical textiles market, by technology, 2012 – 2022, (Kilo Tons)

Further key findings from the report suggest:

• Global technical textiles market demand was 26,58 million tons in 2014 and is expected to reach 35.47 million tons by 2022, growing at a CAGR of 3.7% from 2015 to 2022
• Mobiltech was the leading application segment and accounted for 15.2% of total market volume in 2014. Growing demand for high performance materials from automotive industry is expected to remain a key driving factor for this segment over the forecast period.
• Meditech, is expected to witness the highest growth of 4.6% from 2015 to 2022. Increasing healthcare expenditure in China and India coupled with presence of sophisticated healthcare infrastructure in most parts of Europe and North America is expected to drive this segment over the next seven years.
• Asia Pacific dominated the global technical textiles market with demand share exceeding 45% in 2014. Growing industrialization, increasing access to medical care and huge infrastructure spending particularly in China, India, Indonesia and Thailand is expected to drive regional growth.
• Technical textiles have higher production cost as these are manufactured from advanced superior raw materials. Basic textiles use natural and synthetic raw materials in their manufacturing process. However, wide range of applications gives the overall market an upper hand in terms of competitive analysis.
• Global technical textiles market is dominated by top multinational corporations which are present across the value chain. Major companies have been investing in R&D to avoid volatile petroleum prices and uncertainty regarding their availability. Frequent joint ventures and strategic partnerships are witnessed which is expected to increase their market share. E.I du Pont de Numours & Company, Avintiv, Kusumgar Corporates, SRF, Ahlstrom, Ibena Textilewerke GmbH, Johnson & Johnson, Procter & Gamble and 3M are some key companies operating in the global market space.

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High Temperature Insulation Market Hits USD 5.14 Billion By 2020: Grand View Research, Inc.

The global market for high temperature insulation is expected to reach USD 5.14 billion by 2020, according to a new study by Grand View Research, Inc. Growing need to conserve energy across various industries and sector is expected to be one of the driving factors for the market. In addition, stringent regulations imposed on cement, oil & gas and metal producers to reduce green house gases emission has also helped in developing the market for high temperature insulation. However, health risks associated with the carcinogenic content in high temperature insulation materials has been a key issue for industry participants. In order to reduce reliance on synthetic insulation materials, industry has shifted its focus towards developing bio-based alternatives for high temperature materials.

Petrochemicals emerged as the leading application market for high temperature insulation products and accounted for over 30% of the market revenue in 2012. Growing demand for various primary and secondary petrochemicals coupled with need to conserve energy has propelled the growth of high temperature insulation materials in petrochemical industry. Global demand for HTI materials in petrochemical industry is expected to grow at a CAGR of 8.6% from 2013 to 2020. However, use of HTI materials in powder metallurgy has also been gaining attention from major manufacturers. In addition, novel application of HTI products in aerospace, solar equipment and fire protection industries is also expected to boost their demand over the forecast period.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/high-temperature-insulation-industry

Further Key findings from the study suggest:

• Ceramic fibers emerged as the leading product segment and accounted for approximately 60% of total market revenue in 2012. Shift in focus toward replacing asbestos in furnace linings and kilns are expected to fuel the demand for ceramic fibers over the forecast period. Ceramic fibers were followed by insulating firebricks and calcium silicate among some other high temperature insulation products 
• Europe emerged as the leading market for high temperature insulation and accounted for 38% of total market revenue in 2012. Stringent regulations to reduce GHG emission in Europe is expected to be a key driving factor for the regional market. European demand for HTI products is mainly dependent on imports from Asia. Europe was followed by North America and Asia Pacific in terms of market demand 
• North American and European market for HTI products has reached its saturation and is expected to grow at a relatively sluggish rate. On the other hand, Asia Pacific and Latin America have immense growth opportunities in the near future owing to growth of industrialization in China, India and Brazil. Asia Pacific market for high temperature is expected to grow at an estimated CAGR of 9.2% from 2013 to 2020
• In terms of production, Asia Pacific emerged as a clear leader and accounted for 48% of the total production in 2012. Relaxed regulations coupled with low manufacturing cost are expected to boost production of high temperature insulation materials in the region. Asia Pacific export most of its produced HTI materials to European and North American countries
• Global market for high temperature insulation is dominated mainly by two companies, Thermal Ceramics and Unifrax which together accounted for over one third of the total market in 2012. Some of the other companies operating in the global high temperature insulation market include Zircar, Pyrotek, Isolite, Skamol, Promat and Saffil.

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