Automotive Lubricant Market Trends, Segmentation, Key Players, Application And Forecast

Transparency Market Research has published a new report titled, “Automotive Lubricant Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global automotive lubricant market is anticipated to surpass US$ 120 Bn by 2026, expanding at a CAGR of more than 4% during the forecast period.

Increased number of on-road vehicles, globally, is driving the automotive lubricant market. Average age of vehicles has increased with more number of people preferring to retain their vehicle. Consequently, an increased number of ageing vehicles on the road need maintenance, thereby driving the demand for automotive lubricant.

Demand for lower viscosity oils has increased due to their ability to improve engine performance and fuel economy. OEMs are recommending lower viscosity lubricants and shifting the OEM and aftermarket demand toward better quality synthetic /semi-synthetic oils. Consumers are becoming more aware about maintenance of their vehicle’s health. Synthetic/Semi-synthetic oils are expensive but have longer drain interval time and hence, adoption of these oils is a win-win situation for both manufacturers and consumers.

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Therefore, the market is moving toward higher value lubricants. API or API-equivalent standards are followed globally in order to curb rising emission and maintain minimum performance of lubricants. Rising performance requirements are prompting OEMs to seek better quality lubricants, which in turn is boosting the automotive lubricant market.

Vehicle users in North America and Europe prefer automatic transmission, which contributes to the high demand for automatic transmission fluid (ATF) in these regions. Asia Pacific is witnessing a technology shift from manual to automatic transmission, owing to the rising demand for continuously variable transmission and dual clutch transmission. This is expected to drive the demand for ATF in the region.

In terms of sales channel, the aftermarket segment is expected to dominate the global automotive lubricant market. Automotive lubricants require periodic replacement and hence, the demand for lubricants in the aftermarket is high. OEMs have different lubricant specifications in different countries. However, OEMs are converging to maintain same portfolio across the global market in order to simplify marketing and distribution.

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Key players operating in the global automotive lubricant market include Royal Dutch Shell plc, ExxonMobil Corporation, BP p.l.c., Chevron Corporation, Total S.A.., Sinopec Corporation, Fuchs Lubricants Co., LUKOIL, Phillips 66 Company, Valvoline LLC, Repsol S.A., JXTG Nippon Oil & Energy Corporation, Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Petrobras, and Morris Lubricants. The market is largely fragmented due to the presence of several public-sector companies.

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Thermal Incinerator Market Size will Escalate Rapidly in the Near Future 2020

 

• Thermal incinerators are used for controlling air pollution inside manufacturing units. Many chemical industries have installed thermal incinerators to improve air quality inside their plants.

Key Drivers of the Global Thermal Incinerator Market

• Thermal incinerators have the ability to decrease emissions from most VOC sources, including distillation vents, reactor vents, solvent operations, and operations performed in dryers, kilns, and ovens. Moreover, the product also handles minor fluctuations in air flow. Demand for thermal incinerators is expected to increase in different manufacturing industries as a result of multiple usages of the product.
• Mandatory government regulations related to environmental measures for manufacturing industries is expected to work as a potential driver of the thermal incinerator market. Rising environmental concerns at the global level also boosts the sales of thermal incinerators in both developed and developing countries.
• The chemical industry and oil & gas production faced a major slowdown from March 2020 to July 2020 as a result of Covid-19. This has decreased their overall sales for the financial year 2020-21. However, companies are signing partnerships with different companies to improve their total revenue.

Technological Advancements to Create New Market Opportunities

• Technological innovations in the thermal incinerator manufacturing process has created new opportunities in the thermal incinerator market. Companies are offering advanced products which are compact and work without any noise.

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High Consumption of Energy to Restrict Market Growth

• Thermal incinerators require high energy to purify air. Average energy consumption is very high compared to other industrial products. This affects total operational and maintenance cost for manufacturing industries and may restrict their market growth in the near future.

Asia Pacific the Dominant Market for Thermal Incinerators

• Increasing number of chemical and oil & gas companies coupled high foreign investment in different end-use segments in the Asia Pacific region is one of the key reasons driving the demand for thermal incinerators in the region. China and India are key markets. Japan and South Korea also account for significant share of the thermal incinerator market. Industrial growth in Brazil and South Africa is driving the demand for thermal incinerators in South America and Middle East & Africa regions.
• Key manufacturers are operating their business from Asia Pacific and North America. These players have a global reach through their own sales channels or distributors. North America and Europe also have significant share in the thermal incinerator market.

Key Players Operating in the Global Thermal Incinerator Market

Key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Small scale players are trying to increase their sales by improving their domestic market share. The global thermal incinerator market is fragmented in nature.

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Companies are working on product innovation and development to increase their customer base. Some of the key players operating in the global thermal incinerator market are listed below:

• John Zink Hamworthy Combustion/Koch
•  Honeywell International
•  Fives
•  Catalytic Combustion Corporation
•  Pollution Systems
•  Dürr Cleantechnology
•  Anguil Environmental Systems
•  Catalytic Products International

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Bra Market Growth, Trends And Forecasts (2020-2026)

According to a new market report published by Transparency Market Research titled “Bra Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018– 2026,” the global bra market was valued at US$ 24,582.4 Mn in 2017 and is expected to reach US$ 34,914.7 Mn in terms of revenue by 2026, growing at a CAGR of 4.1% from 2018 to 2026.

The demand for bra has grown tremendously in recent years. Padded bra type has the highest demand in the bra market. Availability of bras in different types, colors, and pattern will drive the bra market globally. Women from all backgrounds want to try out the latest trends in the bra market. Most companies have exclusive stores in shopping malls or outlet stores.

The demand for non-padded bra is expected to grow during the forecast period. Padded bra segment held the largest market share of more than 71.7% in 2017. In the padded bra type, demand for sports bra has grown over the past few years and the trend is expected to continue during the forecast period. Europe and North America are expected to drive the demand for non-padded bra over the forecast period. The market for non-padded bra is expected to grow at a healthy rate in the Asia Pacific region.

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Based on product type, the global bra market has been segmented into padded bra and non-padded bra. Padded bra is the most common and preferred type of bra among women across the world. Padded bra has a thin layer of foam or fabric between the two layers of fabric outside the cup and inside the cup while non-padded bra has just a single layer of fabric. Under the padded bra segment, sports bra holds the major share and is expected to maintain its position over the forecast period. Higher standard of living is a key factor which is expected to accelerate the padded bra market during the forecast period.

Geographically, in terms of revenue, Europe held the largest share in the bra market in 2017. followed by North America. In North America, the US. is the highest revenue generating country in the bra market. Although Europe holds the largest market share, the Asia Pacific region is anticipated to witness the fastest growth during the forecast period. In Asia Pacific, India and China have the highest growth rate as compared to other countries. The market in MEA and South America are expected to witness slow growth as compared to the other regions of the world.

The bra market consists of a large number of public and private players. The industry players focus on developing new products to satisfy the changing consumer preferences.

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Product innovation, technological advancements, and acquisitions are the key competitive strategies adopted by the top players in the bra market. L Brands Inc., Hanesbrands Inc., The Phillips-Van Heusen Corporation, Berkshire Hathaway Inc. (Fruit of the Loom), Wacoal, Jockey International, Inc., Groupe Chantelle, Triumph International, and Wolf Lingerie Limited are the key companies profiled in the research report. The report also offers competitive landscape of the key players in the bra market.

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Sun Protective Clothing Market to Register Steady Expansion During 2020-2030

 

• Sun protective clothing refers to the clothing specially designed for sun protection. It is made from a fabric which is rated for ultraviolet protection. Sun protective clothing blocks or absorbs harmful UV radiation and offers protection from sun burn, sun damage, and skin cancer. Sun protective clothing is recommended to be worn during warm and humid weather. Some clothing and UV-blocking textiles are designed with ventilated weaves, antibacterial properties, and moisture wicking to provide breathability and cooling.

Key Drivers of the Global Sun Protective Clothing Market

• Rising prevalence of skin cancer among the populace is a major factor which is increasing the adoption of sun protecting clothing and subsequently boosts the growth of the sun protective clothing market.
• Increasing awareness regarding preventive measures for skin damage, sunburn, and other skin diseases leads to the increasing adoption of sun protective clothing around the world.
• Changing lifestyles and rising disposable income is propelling the demand for skincare products which includes skincare apparel, thus driving the growth of the sun protective clothing market. Additionally, the rising prevalence of sunburn cases among children is a major concern among parents as overexposure to UV radiation may lead to skin cancer and is a factor that contributes to the growth of the sun protecting clothing market globally.

Factors Restraining the Global Sun Protective Clothing Market

• High cost of sun protective clothing as compared to regular apparel is a major factor that may hinder the growth of the market globally.
• Availability of alternative products for skincare such as sunscreen lotions & creams, tan removal products, and body packs can restrict the demand for such clothing and subsequently lower the growth of the sun protective clothing market.

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Market in Asia Pacific to Expand Rapidly

• In terms of geography, the global sun protective clothing market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
• North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the sun protective clothing market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the sun protective clothing market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America sun protective clothing market is segmented into Brazil, and Rest of South America.
• North America accounted for largest share of the global sun protective clothing market due to increasing awareness about sun protective apparel, changing fashion trends, and high income among people in the region. Additionally, numerous manufacturers in North America with a large customer base is a factor driving the growth of the sun protective clothing market in the region.

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• The sun protective clothing market in the Asia Pacific region is projected to expand rapidly during the forecast period due to rising awareness about skincare among women that leads to the increasing adoption of sun protective apparel. Moreover, availability of these apparel on online platforms makes it more popular and helps to boost the growth of the sun protective clothing market in this region.

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Residential Access Systems Market Estimated to Experience a Hike in Growth by 2030

 

• Residential access systems provide centralized control for all doors to an individual apartment, bungalow, and society. Homeowners are now adopting wireless access systems, thus eliminating lock and keys to obtain security from all ends. Residential access systems offer high security options for many residential spaces, whether an expensive gated community or a large apartment. Residential access control is a form of physical security that manages who has access to the area and restricts access to unauthorized users. It also helps in tracking who is entering and leaving secured areas.

Key Drivers of the Global Residential Access Systems Market

• People are increasingly aware about home security solutions for secure and peaceful living. Unauthorized activity can be controlled by restricting access to people who do not belong to that premise, and they cannot enter the premise until they obtain authorized access. This is encouraging the usage of residential access systems. Additionally, increasing adoption of residential access systems to avoid burglary and invasion is propelling the growth of the residential access systems market globally.
• Increasing rate of crime, growing home automation trend, and increasing need to detect hazards (gas leaks and fire) are some of the factors contributing to the growth of the residential access systems market.
• Technological advancement is a driving force which helps to boost the demand for residential access systems globally.

Factor Restraining the Global Residential Access Systems Market

• High cost of installation, privacy & security concerns, and data breach are some of the factors which may restrict the growth of the residential access systems market.

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Market in Asia Pacific to Expand Rapidly

• In terms of geography, the global residential access systems market can be divided into five regions North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
• North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the residential access systems market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the residential access systems market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America residential access systems market is segmented into Brazil, and Rest of South America.
• The residential access systems market in Asia Pacific is projected to expand rapidly during the forecast period due to lucrative opportunities in emerging countries such as China and India. Rising awareness regarding security solutions among users, technological advancements, and increasing government spending to enhance security solutions due to rising terror threats are some of the major factors which propel the growth of the residential access systems market in the region.

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Key Players Operating in the Global Market

Companies in the residential access systems market are focusing on becoming more proficient and developing innovative residential access control systems and services which will enhance their competitive advantage and enhance their market share globally. Companies are planning and working on implementation of mobile-based access control which will help them to gain lucrative growth in the market. Expansion of smart city initiatives, rapid urbanization, and adopting Access Control as a Service (ACaaS) are some of the driving forces expected to widen the scope of the residential access systems market across the world.

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Cast Iron Cookware Market: Growing Demand and Growth Opportunity

The vendor landscape of the global cast iron cookware market is primarily characterized by a high level of fragmentation owing to the presence of several multinationals as well as a large number of unorganized domestic players in key regional markets. Increasing competition among key players is the main challenge for cast iron cookware manufacturers, which is likely to lead to a decrease in profit margins. As competition intensifies in this sector, with price wars raging among leading players, industry players are expected to put increased focus on improving the efficiency of their value chain, from inbound logistics to distribution, and to a large extent, the marketing and export of products.

Additionally, companies are also trying to introduce a range of differentiated products and packaging for a high margin business segment, in order to cater to the evolving needs of customers, along with enhancing their customer base. Some of the leading companies in the market are Tramontina USA, Inc., The Coleman Company, Inc., Lodge Manufacturing Company, FINEX Cast Iron Cookware Co., Staub USA, Inc., and Le Creuset of America.

According to the report, the global cast iron cookware market is likely to expand at a CAGR of 3.4% from 2017 to 2025, rising from a valuation of nearly US$2,537.0 mn in 2017 to nearly US$3,303.0 mn by 2025. Of the key end-use consumer segments of cast iron cookware, the segment of food services accounted for the dominant 67.6% share of the overall market. Geographically, the market in Asia Pacific is likely to dominate the overall market in terms of demand through 2025, followed by the markets in Europe and North America.

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The increasing one-person households across the globe is a substantial global demographic change having extensive consequences, and is having deep implications on a number of businesses ranging from housing to healthcare. This trend is also expected to lead to a surge in the global demand for cast iron cookware in the near future.

Over the last few years, consumer behavior has drastically changed and consumers are more inclined towards researching about products online and purchasing various types of cookware such as such as electric, non-stick, and cast iron cookware through e-Commerce websites. As such, the increased awareness regarding the health issues associated with coatings on non-stick cookware and aluminum products and the flourishing market for online retailing are boosting the cast iron cookware market.

Moreover, unique properties of cast iron cookware such as high durability, effective heat distribution, and the fact that cast iron cookware leach iron into the food during the cooking process, which may be helpful for iron deficiency problems, are also working in favor of the market.

Easy Availability of Lighter and Cheaper Alternatives to Negatively Affect Cast Iron Cookware Consumption Globally

One of the key challenge that is restricting the adoption of cast iron cookware is the fact that cast iron cookware is much heavier than cookware made from other materials such as aluminum and stainless steel. Furthermore, cast iron cookware is not recommended for use on glass cooktops. Glass stove tops require more careful use than coil tops and dragging the heavy cast iron cookware over glass cooktops can scratch the glass surface. Moreover, cast iron cookware is slow to absorb heat, and may damage the heating elements or break the glass stove top. Cast iron cookware with enameling at the bottom is equally unsafe on a glass cooktop.

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Furthermore, the global cookware market offers several alternatives such as aluminum, stainless steel, copper, and non-stick cookware. Stainless steel cookware are non-reactive, durable, and resistant to rust, dishwasher safe, corrosion, scratching, and denting. They last well and can be cleaned with heavy brushes or dishwashers without damage. Moreover, low cost of these alternatives could also challenge the overall cast iron market.

This analysis of the global cast iron cookware market is based on a recent market research report by Transparency Market Research, titled “Cast Iron Cookware Market (Product Type- Unseasoned, Seasoned, and Enamel Coated; End-use- Household and Food Services; Style- Dutch Ovens, Camp Pots, Skillets/ Fryers, Woks, Griddles, and Bake Ware; Sales Channel- Direct, Indirect (Modern Grocery Retailers and Traditional Grocery Retailers), and Online Retail) – Global Industry Analysis and Opportunity Assessment, 2017-2025.”

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Knitwear Market Growing Popularity and Emerging Trends

According to a new market report published by Transparency Market Research titled ‘Knitwear Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026, the global knitwear market is expected to reach US$ 817,402.7Mn by 2026, expanding at a CAGR of 5.3% from 2018 to 2026. In terms of volume, the market is expected to reach 26,208 million units in 2026, expanding at a CAGR of 5.0% from 2018 to 2026. Asia Pacific was the single largest knitwear market by region in the global knitwear market in 2017 and its market share is expected to increase during the forecast period.

The global knitwear market consists of global knitwear apparel brands and a large number of knitwear apparel sellers and re-sellers. The market is highly fragmented. Global knitwear brands such as Gap Inc. and Abercrombie & Fitch Co. and major activewear brands such as Adidas AG and Nike Inc.focus on research & development, design, logistics (purchasing and distribution), marketing and branding, and service to improve their position in the market.

These companies have outsourced the manufacturing of knitwear, which has low value addition in the overall knitwear value chain, to low-cost Asia Pacific countries such as China, Bangladesh, and India. For example, in 2017, Adidas AG manufactured 97.0% of its apparel in Asia Pacific and only 2% of its production took place in the U.S. and one percent in Europe.

Similarly, Nike manufactures all its apparel outside the U.S. through independent contract apparel vendors. In 2017, apparel contract factories located in China, Vietnam, and Thailand manufactured 26.0%, 18.0%, and 10.0%, respectively of the company’s total apparel production. Thus, Asia Pacific has become a prominent manufacturer and exporter of knitwear apparel. China, Bangladesh, India, Pakistan, and other South Asian and East Asian countries are major exporters of knitwear products across the globe.

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Thus, Asia Pacific has become a prominent manufacturer and exporter of knitwear apparel. China, Bangladesh, India, Pakistan, and other South Asian and East Asian countries are major exporters of knitwear products across the globe.

North America imports almost all of its knitwear products from Asia Pacific. Rising demand for branded innerwear from U.S. based brands such as Victoria’s Secret is increasing in the U.S. and other North American countries. Demand for sportswear is also rising in North America.

Knitwear is still manufactured in Europe but in lesser quantity. The unit cost to manufacture knitwear is high in the U.K. due to high wages; but many British designers prefer to manufacture in the U.K. due to short lead time and flexibility in minimum order quantity.

Although R&D and design of knitwear are majorly done outside Asia Pacific, the dominant knitwear manufacturing is done in China, India, Bangladesh, and Vietnam. The knitwear market is rising in India due to growth in the number of organized knitwear retailers selling branded knitwear products.

There is a rising demand for branded knitwear in the MEA. With approximately 62.0% of its population being young and middle-aged, the region imports knitwear products worth US$ 3.5 billion annually. Knitwear exporters such as Bangladesh export knitwear to the UAE to increase its knitwear revenue.

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There is a rising demand for cotton knitwear products in Brazil and other South American countries. In 2016-17, the country imported approximately. US$ 11.47 Mn of T-shirts, singlets and other vests made of cotton. Almost half of the knitwear imports in Brazil are from China.

The study provides a decisive view of the global knitwear market by segmenting it in terms of product type, material type, application, consumer group, and distribution channel. In terms of product type, knitwear are classified into innerwear, t-shirts & shirts, sweaters & jackets, sweatshirts & hoodies, shorts & trousers, evening dresses, suits & leggings, and accessories. Based on material type, the market is classified into natural, synthetic, and blended.

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