Commercial Kitchen Appliances Market Investment Trend, Growth & Innovation Trends 2021-2026

According to a new study published by Polaris Market Research the worldwide commercial kitchen appliances market is anticipated to reach USD 138.5 billion by 2026. In 2017, the refrigerator segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

 

The significant increase in food establishments, and the growing tourism industry are the major factors driving the growth of this market. The changing lifestyles and hectic schedules of the working professionals are leading to higher instances of dining at restaurants and other food establishments.  Rising disposable income is one of the factors responsible for the growth of the market.

 

Restaurants are increasingly adopting technologically advanced kitchen appliances to simplify kitchen activities and offer enhanced services to consumers. Restaurant businesses prefer compact and space efficient appliances, which encourages market players to launch new products in the global market. Increasing spending on the hospitality sector, and tourism activities encourage restaurant owners to improve their infrastructure and offer enhanced services. The market is also driven by increasing need to use kitchen appliances that consume less energy and provide faster kitchen services. Growing concerns regarding environment and increasing adoption of energy efficient kitchen appliances are expected to offer numerous growth opportunities in the future. However, high costs associated with commercial kitchen appliances, high installation prices, and strict regulations on production of commercial cooking appliances restrict the growth of the market.

 

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Increasing disposable income coupled with rise in number of working class population has changed the lifestyle pattern of consumers. The commercial kitchen appliances market has witnessed considerable growth in the recent years due to improved lifestyle, changing consumption patterns of people and rising number of social events. The disposable income of people in the developing countries has increased owing to the improving economic conditions in these regions. High disposable income increases the spending capacity of consumers encouraging them to dine at restaurants and attend social events.  These factors support the growth of the global commercial kitchen appliances market.

 

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high living standards along with high disposable income in the region drive the market growth. Other factors supporting market growth in North America include different eating habits, increasing popularity of different cuisines, and a multi-cultural environment. Asia-Pacific is expected to grow at a significant rate during the forecast period owing to the increasing population and improving living standards.

 

The different types of commercial kitchen appliances include cooking appliances, refrigerators, dishwashers, and others. In 2017, refrigerators accounted for the highest market share owing to increasing need to conserve edible items at a range of different temperatures. Restaurants are increasingly adopting technologically advanced refrigerators to meet high storage demands and to offer fresh & high quality food. Food establishments are also inclined towards using energy efficient refrigerators owing to growing environmental concerns.

 

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The well-known companies profiled in the report include Meiko International, AB Electrolux, Hobart Corporation, Fujimak Corporation, Duke Manufacturing Co. Inc., Ali Group Company, Hoshizaki Corporation, Fagor Industrial, Rational AG, Carrier Corporation among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Industrial and Commercial LED Lighting Market Type, Application, Market Size, End-User and Region Forecast

 The Report “Industrial & Commercial LED Lighting Market Worth $296 Billion By 2026 | CAGR 22.7%” Industrial and Commercial LED Lighting Market Share, Size, Trends, Industry Analysis Report By Installation (New Installation, Retrofit); By Application (Indoor Lighting, Outdoor Lighting); By End-User (Industrial, Commercial, Others); By Region, Segments & Forecast, 2018 – 2026.  the commercial lighting segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

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A significant increase in infrastructure development and implementation of smart cities drives the growth of the Industrial and Commercial LED Lighting Market. Other driving factors include higher efficiency offered by LED lights, reducing prices, favorable government regulations, and stringent standards regarding energy efficiency. The increasing awareness regarding use of energy efficient lighting solutions among consumers further supports market growth. Increasing demand from developing nations along with technological innovation is expected provide numerous growth opportunities to the Industrial and Commercial LED Lighting market players during the forecast period.

 

Increasing government initiatives regarding promotion of LED lighting solutions fuels the growth of Industrial and Commercial LED Lighting market. Growing use of LED lighting in public infrastructure such as museums, and other structures by governments, along with rising awareness regarding use of energy efficient among consumers would support the market growth in the coming years

 

The Asia-Pacific Industrial and Commercial LED Lighting Market generated the highest revenue in 2017, and is expected to lead the global market throughout the forecast period. The growing construction sector and adoption of smart technologies drive the market growth. The increasing government funding in development of efficient infrastructure supports the market growth in the region. The increase in construction of commercial buildings in this region, upgradation of existing infrastructure, and ban on certain incandescent lights boosts the growth of the market in the region.

 

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The different end-users for Industrial and Commercial LED Lighting include industrial, commercial, and others. In 2017, the commercial lighting segment accounted for the highest market share. The commercial sector includes hospitality, retail, healthcare, education, and commercial offices. The increasing use of LED lighting solutions in the commercial sector for higher energy efficiency, durability, and longer life supports Industrial and Commercial LED Lighting Market growth.

 

The leading companies profiled in the Industrial and Commercial LED Lighting Market report include Koninklijke Philips Electronics N.V., Cree, Inc., GE Lighting Solutions, Toshiba Corporation, Digital Lumens, Inc., Osram Licht AG, Dialight Plc, Cooper Industries Plc, Deco Lighting, Inc., and Sonaray LED Lighting. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

Segment Analysis

The global Industrial and Commercial LED Lighting market is segmented on the basis of installation, application, end-user, and region

• Industrial and Commercial LED Lighting Market Size and Forecast, 2017-2026 by Installation
  • New Installation
  • Retrofit
• Industrial and Commercial LED Lighting Market Size and Forecast, 2017-2026 by Application
  • Indoor Lighting
  • Outdoor Lighting
• Industrial and Commercial LED Lighting Market Size and Forecast, 2017-2026 by End-User
  • Industrial
  • Commercial
  • Others
• Industrial and Commercial LED Lighting Market Size and Forecast, 2017-2026 by Region
  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Middle East & Africa

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Self healing materials Market Future Forecast Indicates Impressive Growth Rate

  

The worldwide market for self-healing materials is anticipated to reach USD 8.23 billion by 2026 and is estimated to grow at a CAGR of 59.0% between 2018 and 2026. Self-healing materials are artificially developed substances that are capable of restoring and repairing their functionality automatically without the requirement of any external or human intervention. These materials have the inbuilt capacity to substantially recover their load transferring ability after damage. Since its introduction, there have been numerous innovations in the field of self-healing materials.

“Self Healing Materials Market [By Material Type (Coatings, Concrete, Asphalt (Mannan-Oligosaccharide, Polymers, Ceramic, Others)); By Technology (Microencapsulation, Reversible Polymers, Biological Material Systems, Others); By Application (Automotive, Aerospace, Electronics, Building & Construction, Others); By Regions]: Market size & Forecast, 2017 – 2026”

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These products are being developed for application in smart phone screens and are made of ionic salts and stretchable polymers. These components are not only capable of healing scratches & cuts but also conduct electricity. They consist of bonds such as an ion-dipole interaction, which is a strong force between polar molecules and charged ions. These ions attract each other when the material experiences scratches or minute cracks. However, it takes around twenty-four hours for the ions to get back to their original formation.

 

In recent times, self-healing materials such as epoxy resins, hydrogels among others have found applications in concrete and roofing materials. Researchers in this field have discovered a specific bacteria group, which are embedded in the concrete thereby aiding the material to heal cracks. These bacteria produce metabolic calcium carbonate which acts as the healing agent. Further research and development in this sector has led to the introduction of soak clay balls that contain these bacteria types which are then added to concrete used in various construction projects such as residential buildings, bridges, tunnels etc.

 

As the water starts penetrating the concrete structure, these bacteria or microorganisms become active and hence, release calcium carbonate, which is one of the primary components of concrete mixtures. These bacteria are capable of closing cracks, however only up to a range of few millimeters.

 

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Some of the other recent developments that have been commercially introduced in the market include the self-healing screen used in smart phones. Motorola uses shatterproof displays which are an example of the application of these components used in smart phone displays in the present scenario. These advancements in the industry along with such high rate of commercialization of these products in the industry are some significant factors that support a robust growth of self-healing materials in the near future.

 

Key findings from the study suggest that the largest share of the market in 2017 was of the North American region. This is due to the fact that major research projects in this field have been undertaken in universities along with support from the multinationals in the U.S. The country was the leading market in terms of production for the past few years. The substantially advanced automobile, aerospace manufacturing sector in the U.S. has been the major industries driving demand of these products since its inception.

 

Major industry participants manufacturing these products in the global market space include Dow Chemicals, AkzoNobel, Huntsman Advanced Materials, and Autonomic Materials, Slips Technologies, Inc., Sensor Coating Systems Ltd., Acciona S.A., Applied Thin Films, Inc. (ATFI), Akzo Nobel N.V., Avecom N.V., Autonomic Materials Inc., BASF SE, Covestro AG (Formerly Bayer Material Science), Critical S.A. and Devan Chemicals.

 

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Pet wearable Market Type, Application, Market Size, End-User and Region Forecast

 The worldwide pet wearable market is anticipated to reach USD 4,172 million by 2026 according to a new research published by Polaris Market Research. In 2017, the identification and tracking segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global pet wearable market.

 

The increasing adoption of pets, along with growing awareness regarding pet care and safety majorly drives the market growth. Consumers are increasingly becoming aware of safety concerns regarding pets, which support market growth. The increasing penetration of mobile devices, and increasing disposable income encourage consumers to invest in pet wearable. Other factors driving market growth include increasing need of monitoring pets, growing adoption of IOT, and technological advancements. New emerging markets, emerging consumer demographics, and sale through online channels would provide growth opportunities for pet wearable market in the coming years.Sale of products through online channels has gained significant popularity over the years.

 

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The trend of online shopping is gaining traction in developing economies, thereby encouraging established market players to distribute their products globally. Emerging and new players are also using online platforms for promotion and sale of products. Online distribution channels offer a global platform to market players for expansion of customer base, while reducing operation cost.

  

North America is expected to dominate the global market during the forecast period. This is due to high living standards and high disposable income. Presence of global players in these countries taps market potential and boosts the market growth. Increasing use of mobile devices and increasing sale of GPS-enabled products further augments market growth. Growing concerns regarding pet safety, and technological advancements further boost the market growth.

 

The various types of pet wearable products include smart collar, smart camera, smart harness, and others. Smart cameras dominated the global market in 2017 owing to increase need to monitor pets. These cameras monitor the pet activities while also offering features such as audio and toys. Growing awareness regarding smart wearable technology coupled with increasing development of customized mobile applications and software platforms is projected to fuel the demand for smart cameras.

 

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The well-known companies profiled in the report include DogTelligent, Garmin Ltd., GoPro, Dairymaster, Fitbark, IceRobotics, Loc8tor, PetPace LLC, Whistle Labs LLC, Otto Petcare, DeLaval, i4C Innovations. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

Ostomy care Market Type, Application, Market Size, End-User and Region Forecast

 The global ostomy care market is anticipated to reach USD 4.10 billion by 2024 according to a new study published by Polaris Market Research. Ostomy, also known as stoma is a surgical procedure that involves the removal of diseased portions of the urinary or gastrointestinal system and formation of an artificial opening in the stomach or abdomen to allow the elimination of body wastes. Colostomy, Ileostomy, and Urostomy are the three types of ostomy. In the colostomy, the opening is made from the large intestine to the abdominal wall so the feces can bypass through the anal canal. In Urostomy, the urine passes straight into a stoma bag and thus bypasses through urethra. In Ileostomy, the damaged part is removed from the ileum and diverted to an artificial opening in the abdominal wall.

 

The global ostomy care market is driven by the rising geriatric population and increased number of ostomy surgeries in bladder cancer, bowel cancer, and inflammatory bowel diseases. Moreover, rising number of patient awareness programs on the use of ostomy products, and new product innovation are some of the key factors responsible for the growth of the market over the forecast period. However, difficult reimbursement climate and increased cost of surgical care are factors expected to stifle the growth of the global ostomy care market through the foreseeable future.

 

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The overall market is segmented on the basis of product type, end user, and region. Based on the product, the global ostomy care market is further categorized into bags and accessories. The bags segment is further sub segmented into surgery type, usability, shape and system type. The surgery type is further broken down into colostomy, ileostomy, and urostomy. Among the surgery types, colostomy surgery is expected to exhibit strong growth followed by Ileostomy and urostomy. By usability, the bags are segmented into close end and drainable bags. On the basis of system type, the market is segmented into one-piece systems, and two-piece systems.

 

Accessories remain a very important part of the product offering and are a rapidly growing segment within ostomy care market. The accessories segment of global ostomy care market is further segmented into creams, deodorants, powders & pastes, cleansers, belt, tapes, and others.

 

On the basis of end user, the global ostomy care market is further segmented into hospitals, specialty clinics, home care settings, and ambulatory surgical centers. In 2019, the home care settings segment is estimated to dominate the global ostomy care market.

 

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By geography, the global ostomy care market is segmented into five major regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is estimated to have the largest market share for ostomy care market in 2019. This region is dominated in ostomy care market due to increased prevalence of inflammatory bowel diseases. In addition, increased patient awareness programs continue to drive penetration and market growth in this region.

 

Some of the key players in global ostomy care market include Coloplast, ConvaTec Inc., Hollister Incorporated, Alcare Co., Ltd., B. Braun Melsungen AG, BAO-Health, Welland Medical Limited, Marlen International, Nu-Hope Laboratories, Inc., and Flexicare Medical Limited among others.

 

Video Analytics Market Type, Application, Market Size, End-User and Region Forecast

 The global video analytics market size is expected to reach USD 10.87 billion by 2026 according to a new study by Polaris Market Research. Since past few years, internet of things is acting as a primary driving force in several industries. IoT applications are more valuable when incorporated with video analytics. Video surveillance devices and solutions are a major part of implementing security measures, and applying video analytics makes these surveillance systems more efficient. This technology helps reduce the workload on management and security staff, and helps capture the full value of security video by making the IP camera system more intelligent in its work.

 

Globally, video analytics is largely being used on several cities, in retail, automation, and other industrial and manufacturing sectors. As there is growing demand for industrial automation across various industrial sectors, the demand for this technology is rapidly increasing in retail, banking, financial services, manufacturing, airports, and other sectors. Additionally, increasing number of application of this technology such as motion detection, license plate detection, facial recognition, crowd counting, and traffic monitoring among others are also enhancing the adoption of this technology and thus, is expected to fuel the market growth during the forecast period. Furthermore, growing trend of BYOD, IOT, artificial intelligence, and machine learning, and growing usage of cloud-based video analytics solutions are also fueling the market growth. These and many such factors are driving the growth of the market.

 

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Though many factors are driving the market growth, there are several issues that have a negative impact on the market. Factors such as impact of poor lighting or bad weather conditions, high investment for installation, and privacy concerns are expected to hinder the market growth during the forecast period. Furthermore, development of smart cities, increasing inclination towards advanced technologies, increasing necessity of business intelligence and insights, demand for enhanced video surveillance, and growing need of edge-based analytics and recognizing & profiling applications are some of the factors providing significant growth opportunities during the forecast period.  

 

The global market is dominated by North America as people here are largely investing in video surveillance systems to replace the conventional surveillance systems in order to enhance the safety and security around. Furthermore, increasing presence of dominating players in the North American region and growing investments by public and private organizations are also fueling the growth of the market in this region. Additionally, video surveillance has become a growing trend in European countries as well, based on increasing incidents of attacks in countries such as UK, France, and Germany. However, Asia-Pacific is expected to witness a fastest growth owing to growing expansion of established and emerging players in this region, increasing number of investment, strengthening the technological expertise, increasing introduction of smart cities projects and establishment of megacities in several parts of the region. Several companies in this region are receiving significant funding to improve their technologies and make them available at a reasonable price. For instance, in 2018 Gorilla Technology raised $15 million for real-time video analytics. Such investments are increasing presence of established players is driving the growth of the market in this region.

 

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The key players in the market include International Business Machines Corporation, Cisco Systems Inc., Axis Communications, Genetec Inc., Agent Video Intelligence Ltd, Honeywell International Inc., Aventura Technologies Inc., Qognify, Avigilon Corporation, Puretech Systems Inc., Intuvision, Inc., and Allgovision Technologies Pvt. Ltd among others.

Parking Management Systems Market Future Technological Trends and Business Opportunities By 2026

 The worldwide Parking Management Systems market is anticipated to reach around USD 9,786 million by 2026 according to a new research published by Polaris Market Research. In 2017, the hardware segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global market.

 

The significant increase in the demand for luxury passenger cars coupled with significant growth in sale of motor vehicles across the world boosts the growth of parking management systems market during the forecast period. Additionally, the increasing need to improve road safety, and streamline traffic flow in populated urban areas supports the market growth. The growing demand for passenger vehicles owing to increasing disposable income, and changing lifestyles, coupled with modernization of vehicles support the growth of the parking management systems market.

 

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The increasing development of autonomous and semi-autonomous vehicles, and rising penetration of mobile devices boost the adoption of parking management systems. However, high costs of implementing parking management systems would restrict the market growth during the forecast period. New emerging markets, and growing adoption of smart cities would provide growth opportunities for parking management systems market in the coming years.

  

In 2017, North America accounted for the highest share in the global parking management systems market. The growing need to streamline traffic flow coupled with introduction of stringent regulations regarding vehicular safety accelerate the adoption of parking management system in the region. The high living standards and disposable income further increases the demand of luxury automobiles in the region. The increasing development of smart cities in the region, and development of autonomous vehicles would provide growth opportunities during the forecast period.

 

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The major players of the parking management systems market include Skyline Parking AG, Siemens AG, T2 Systems, IBM Corporation, Swarco Corporation, Kapsch TrafficCom, Skidata, Passport Inc., SAP, and Indigo Park Services. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

Industrial Microwave Heating Market Type, Application, Market Size, End-User and Region Forecast 2026

 The global Industrial Microwave Heating Equipment Market size is expected to reach USD 1.57 billion by 2027 according to a new study by Polaris Market Research The market is expected to grow at a substantial rate over the forecast period. Government regulations aimed at reducing energy usage, efforts taken by companies to achieve sustainable goals, coupled with rising industrialization across the globe especially in Asia Pacific region is expected to benefit the overall industry growth. Inherent advantages of industrial microwave heating systems such as low energy requirement, better control over the process and ability to offer customized services have resulted in wide applicability of these systems in a spectrum of end-use industries thus further driving the market growth.

 

The market is characterized by frequent mergers, acquisition, as well as other strategic initiatives by leading market participants. In August 2020, Meyer Burger Technology, a Swiss based conglomerate sold its subsidiary business Muegge, to Germany based equity firm HQ Equita. Muegge is involved in providing industrial microwave heating systems in addition to plasma equipment to a host of application industries.

 

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Industrial Microwave Heating Equipment is finding widespread applications in food & beverage industry and is used for microwave food drying, pasteurization, sterilization, tempering, heating, among others. The usage of microwave equipment ensure that all these processes are ensured with high efficiency, retention of original nutritional content, and in less cost. This scenario is further driving the penetration of these equipment in the food & beverage industry. This trend has resulted in a rise in demand for industrial microwave heating equipment for applications in food & beverage industries thus resulting in overall market growth.

 

China occupies a majority of market share in the Asia Pacific region. The country is highly industrialized and has emerged as a major manufacturing hub in the world. These trends have benefitted the overall market growth. The country effectively curbed the coronavirus outbreak and hence, did not suffer as much as other European countries. This ensured that the manufacturing in the country to be operational, thus benefitting the overall market growth.

 

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Industries, in the recent past paid special attention to development and modification of Industrial Microwave Heating Equipment technology to exactly match the process needs of their clients. Different application needs have different process requirements and it is imperative that these heating systems have the ability to modify parameters such as Working Frequency, Working Temperature, Working Temperature, Control Method, Conveyor Speed, Drying Temperature, among others. Continuous R&D has enabled participants to achieve the same and this trend is a major contributor to the generalization of Industrial Microwave Heating Equipment in various application industries.

                                                     

Some of the key market participants that operate in the industry include Hitachi Power Solutions Co., Ltd., Muegge GmbH, Teledyne e2v Limited, Industrial Microwave Systems Ltd., CoberMuegge LLC, Communications & Power Industries LLC (CPI), L3 Technologies, Inc., Richardson Electronics, Ltd., MDP Components, STT International Limited, Panasonic Corporation, and Toshiba International Corporation among others

 

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Electric Powertrain Market Future Technological Trends and Business Opportunities By 2026

 The global electric powertrain market size is anticipated to reach USD 604.74 billion by 2026 according to a new study published by Polaris Market Research. The report “Electric Powertrain Market Size, Share, & Trend Analysis Report By Product Type (Battery Electric Vehicle (BEV) Powertrain, Mild Hybrid Powertrain, Series Hybrid Powertrain, Parallel Hybrid Powertrain, Series-Parallel Hybrid Powertrain); By Vehicle Type (Light Vehicles, Cars, Light Trucks); By Regions, Segments & Forecast, 2019 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Electric Powertrains are the recent trends in the automotive industry. The rising trend of adopting a low carbon environment in a singular approach to prevent global warming has heralded the era of electric vehicles (EV’s). Making the most of various energy forms available has led to the development of EV’s. Regulations in regard to Carbon dioxide emissions has been hauled up and redone in the U.S., China, and Japan and European constitutions. As a result, technology has been ramped up. Furthermore, consumers are already burdened by the inflating prices of oil which is reason enough to graduate towards

 

 

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An EV derives power from alternative source of energy such as battery in stark contrast to internal combustion vehicles that is driven by fossil fuels such as petrol or diesel. The EV powertrain includes the battery, electric motor and transmission which help generate power to drive the vehicle. The powertrains in any vehicle are considered to be the pivotal component of that vehicle and is identified by its engine and transmission. The power, comfort and safety define the performance quotient of the vehicle.

 

Currently gasoline vehicles score over diesel ones but are fast losing out because of high priced gasoline which is becoming dearer as compared to diesel oil. This is leading to manufacturers going in for hybrid powertrains to reduce reliance on fuel consumption.

 

EV’s are the future of the automotive industry as fossil fuels are slated to go extinct in the next few decades. Battery electric vehicles (BEV) powertrains are the most extensively used types in the present organizational make-up. A BEV is powered entirely by electric energy. Powertrains in plug-in hybrid electric vehicle (PHEV) take help in charging from wall-mounted power supply. The series hybrid powertrains are the least used in present industry scenario and in this type; it is designed with a single path for powering the wheels. This type of powertrain operates in many modes including engine only traction, electric only traction, hybrid traction, engine traction and battery charging.

 

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The Parallel hybrid powertrains occupy two parallel paths for powering the vehicle which is the electric path and the engine path. PHEV operates in five modes and has been gaining significant traction over the years.

 

The powertrains are an energy-efficient alternative in harmony with the environment. However, they do have limitations. Two most significant ones include lead emissions from the battery and energy storage issues. 

        

The U.S, Japan, China and South Korea account for major production and these countries constitute the new-age countries having promised multi-billion-dollar investments to develop new models. The market is mildly competitive and consolidated on account of various players in the electric powertrain market.

 

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The key players in electric powertrain market include AVL LIST GmbH, ARC CORE, ALTe Technologies, IET S.p.A, ATS Automation Tooling Systems, Inc., EptDyn, TM4, Jayem Automotives, BMW Motorrad International and AllCell Technologies LLC.

 

 

 

 

Traffic road marking coating Market Type, Application, Market Size, End-User and Region Forecast

 global traffic road marking coating market was valued at USD 4,012 million in 2017 and is anticipated to grow at a CAGR of 6.2% during the forecast period. The Report “Traffic Road Marking Coating Market [By Product Type (Thermoplastic, Paint, Preformed Polymer Tape, Others); By Region]: Market size & Forecast, 2017 – 2026”

 

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The rapid increase in traffic congestion across the globe majorly drives the growth of this market. Growing concerns regarding road safety coupled with increasing need to efficiently control and management road traffic supports the market growth. A significant increase in the number of road accidents has been registered, which encourages governments to improve the road infrastructure. There has been an increasing construction of roads, especially in the developing regions of Asia-Pacific and Latin America, which further augments the growth of this market. Introduction of organic road marking coatings along with increasing awareness regarding the use of environment friendly marking materials would provide growth opportunities for traffic road marking coating market in the coming years.

 

 The well-known companies profiled in the report include : Vertex Group, Geveko Markings, Dow Chemical Company, Asian Paints PPG Pvt. Ltd., Lanino Road Marking Products, Kataline Infraproducts Pvt. Ltd., Ozark Materials, LLC, Kestrel Thermoplastics Ltd., Crown Technology LLC, and WJ Products Ltd. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

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Asia-pacific is expected to grow at the highest CAGR during the forecast period. There has been increase in construction of roadways in the developing countries of Asia-Pacific. The increasing need to improve infrastructure is increasing the demand of traffic road marking coating in the region. Governments in the region are increasingly investing in the development of roadway infrastructure, augmenting the market growth. Growing concerns regarding road accidents, and rising need to control them further promotes the growth of this market. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.

  

The various types of traffic road marking coatings include thermoplastic, paint, preformed polymer tape, and others. The paint segment is expected to lead the market during the forecast period owing to its increasing demand from the developing regions. Use of paint is generally preferred owing to its easy availability and ability to dry at a faster rate. Thermoplastic is expected to grow at the highest CAGR during the forecast period.

 

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Thermal Insulation Coating Market Type, Application, Market Size, End-User and Region Forecast

 According to a new report published by Polaris Market Research the worldwide thermal insulation coating market is anticipated to reach around USD 13,189 million by 2026. In 2017, the acrylic segment dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global thermal insulation coating market.

 

The rapid growth in the manufacturing, construction, and automotive sectors majorly drives the growth of this market. Growing need to save energy, improve performance, and reduce operation costs of equipment supports the growth of the market. The increasing applications and rising demand from industries such as aerospace & defense, automotive & transportation, and industrial are expected to boost the market growth during the forecast period.  Increasing awareness regarding construction of green and energy efficient buildings would accelerate the adoption of thermal insulation coatings. New emerging markets, and technological advancements would provide growth opportunities for thermal insulation coating market in the coming years.

 

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Asia-pacific is expected to dominate the global thermal insulation coating market during the forecast period. A significant growth in the manufacturing, automotive, and construction sectors has been registered over the past few years in China, India, and Japan, thereby driving the growth of thermal insulation coating market. Low labor costs, easy availability of raw materials, and need to improve operational efficiency in different industries further support the market growth in the region. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.

  

The various types of products included in the report include acrylic, epoxy, polyurethane, Ytria Stabilized Zirconia, and others. The acrylic segment dominated the market in 2017 owing to its favorable properties such as high tensile strength, affordable cost, and light weight. The epoxy segment is expected to grow at the highest CAGR during the forecast period. Epoxy offers properties such as high resistance to heat and abrasion, high strength and toughness. The increasing awareness regarding green and energy-efficient buildings is expected to drive the growth of this market.

 

Thermal insulation coatings are used in various end-use industries such as manufacturing, automotive, construction, aerospace, and defense among others. The manufacturing sector accounted for the highest share in the global thermal insulation coating market. These coatings are used in the manufacturing industries for thermal insulation and improving energy efficiency of equipment such as reactors, pipes, and others. The growing demand of thermal insulation coatings for efficient performance of equipment at high-temperatures and improving overall efficiency while reducing maintenance costs supports the growth.

 

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The well-known companies profiled in the report include Nippon Paints, The DOW Chemical Company, Sharpshell Industrial Solution, Evonik Industries AG, Sherwin-Williams Company, PPG Industries, Inc., Kansai Paint Co., Ltd., Mascoat, Akzonobel N.V., and Grand Polycoats Company Pvt. Ltd.   among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.