Dust extraction system market to reach $9.9Mby 2028
The dust extraction system market will reach nearly $9.9 million by the end of 2028, according to a research study conducted by Fact.MR. The use of dust extraction systems has grown due to awareness of clean and healthy working environments as well as the implementation of norms regarding worker safety across several industries. Laws imposed by regulators like the Occupational Safety and Health Administration (OSHA) and the National Fire Protection Association (NFPA), is a driver for this market.
The study predicts the use of dust extraction systems will remain a key in the mining, quarrying and oil and gas sectors, taking up more than 25 percent of sales. Usage in the construction, lumber and chemical industries is expected to grow as well. End users are predicted to prefer vacuum dust extraction systems and wet scrubbers, followed by cartridge and bag filters. Revenues from jet bag filter systems will remain least impactful.
North America and Europe are likely to lead the growth due to their regulatory bodies. Growing construction and waste management industries in Europe are likely to help grow the market as well, according to the study.
Global ICS security market to be worth more than $7B by 2024
The industrial control system (ICS) security market is expected grow as a result of technological advancements for the Industrial Internet of Things (IIoT) movement, according to a research report by Global Markets Insights Inc. A large number of industrial information technology (IT) vulnerabilities were detected between 2015 and 2017, 30 percent of which were found in SCADA/HMI/DCS devices. Network equipment vulnerabilities were at 28 percent. Vulnerabilities reported by companies with ICS solutions went from 115 to 197 from 2016 to 2017 and the demand for ICS solutions also increased during that time.
The firewall segment held the majority of the market in 2017 and is likely to remain at the top through 2024 through the adoption of ruggedized firewalls that control the flow of information. The energy sector held the majority of market share at 40 percent in 2017 and is expected to maintain that dominance. North America held 50 percent of the market share at that time and is also expected to maintain the majority share.
Network security in this market is projected to have a compound annual growth rate (CAGR) of 26 percent, identity and access management (IAM) is expected to have a CAGR of 25 percent and the service market is projected to have the fastest growth with a CAGR of 35 percent.
Automated systems to create $2B materials characterization market by 2024
The $1.6B materials characterization market is on track to become a $2B market by 2024, according to Frost & Sullivan. Analysts said labor force shortage causing devices to become more user-friendly will drive the global material characterization market in countries without these techniques. Automation will attract the food and pharmaceutical sectors.
“As the viscosity and flow properties of syrup, soups, sauces, dips, and liquid additives are important to maintain strict quality control over food, there has been a rise in demand for inline/process viscometers for the real-time monitoring and control of food process applications,” said Frost & Sullivan’s Sujan Sami, Project Manager, Measurement & Instrumentation.
Integrating characterization measurement capabilities, lowering maintenance requirements, engaging in mergers and acquisitions, partnering with analytical software providers and focusing on emerging markets will help propel the market, according to the researchers.
Global refinery catalyst market worth more than $5.8B by 2025
According to a research report by Global Market Insights Inc., the global refinery catalyst market size will be worth more than $5.8 billion by 2025 due in part to the development of unconventional oil reserves like shale oil. Refinery catalysts provide butylene selectivity on light feeds and metals tolerance ability, which will help the market grow.
Asia-Pacific’s automotive market will fuel the refinery catalyst market. China, India, Japan and South Korea accounted close to 40 percent of global automotive sales in 2017, which is likely to increase. Refineries expanding to meet emission regulations and sulfur content will positively affect the market. These products are used for various processes including reforming, catalytic cracking, isomerization, desulfurization and hydroprocessing.
Saudi Arabia will generate more than $135 million in 2025 as the country is the largest producer of petroleum products in Middle East and Africa region, contributing to nearly 90 million tons annually. In 2018, Saudi Aramco, the state oil company of Saudi Arabia, and Total signed an agreement for the expansion of their joint venture refinery SATORP in Saudi Arabia. This will increase the refinery catalyst demand in this region in coming years.
White oil market to exceed $2B by 2024
According to a research report by Global Market Insights Inc., the white oil market size will exceed $2 billion by 2024, translating in volume of more than 2,000 kilo tons. Increasing white oil consumption as a lubricator, moisturizer and insulator in the cosmetics, pharmaceutical and textile industries will propel industry growth. Advancement in the production process enables complete removal of dust particles, improving its purity and odorless and tasteless properties. White oil is also used in food, adhesives, paper, bakery, precision machinery, cement, wood and textile industries. Increased product usage in consumer goods including food packaging, coating on vegetables, animal food and medications will drive white oil market demand size. White oil is also used in manufacturing medical devices, laxatives, ointments and various excipients in the healthcare industry. Use of white oil as lubricants in industrial equipment will help market growth.
The U.S. will witness a significant market growth at more than 4.5 percent, with strong consumption in protective diluents, emollients, moisturizers, baby care and hair care products.
The Middle East and Africa white oil market will witness more than 2.5 percent growth by 2024. Technological advancement in production process accompanied by substantial petroleum reserves will drive the regional demand size.