Functional & security products drive growth in pharmaceutical packaging
Global pharmaceutical packaging demand is projected to advance 6 percent per year to $112 billion in 2021, according to a new study from research firm The Freedonia Group.
Aging populations, rising levels of acute and chronic conditions and new product introductions will drive demand. These and other trends are presented in the study titled Global Pharmaceutical Packaging, 12th Edition.
Freedonia Group reports gains will reflect the expanding use of high-value containers, closures, and packaging accessories that promote better patient drug scheduling adherence, boost security against drug counterfeiting and drug diversion, enhance barrier protection against drug contamination,and improve the safety and ease of drug dispensing and drug administration.
Prefillable syringes will post the fastest gains of any pharmaceutical container, increasing 9 percent per year through 2021. Demand will be supported by expanding applications in the administration of critical care, emergency and self-injectable parenteral medication. Advances in biotechnology, nanotechnology and other advanced drug-delivery technologies will increase the range of pharmaceuticals adaptable to this packaging.
Western Europe will continue to make up the greatest share of pharmaceutical packaging demand. Demand is spurred by the region’s large, advanced drug-producing industry that develops new packaging systems and introduces sophisticated therapies with specialized packaging needs.
3 factors boosting the global industrial dust collectors market
The global industrial dust collectors market is forecast to grow at a compound annual growth rate of more than 5 percent from 2017 to 2021, according to a Technavio research report.
The major demand for dust collectors is expected to arise from growth in capacity in the pharmaceuticals industry.
The growth in the manufacturing sector is a major contributor to the global industrial dust collectors market. Manufacturing sector growth is expected to increase the demand for power. This growth will subsequently drive other processing industries, such as chemical, mineral and ore, and oil and gas, thereby attracting investment toward these industries.
Technavio research analysts highlight the following three factors that are contributing to the growth of the global industrial dust collectors market:
- Increasing global economic activity
- Augmentation of coal capacities in Asia-Pacific
- Growing packaged food retail industry
Increasing global economic activity
The growth in the economic activity of any country brings with it challenges, such as acidic emissions and pollution. Greater economic activity is supported by increased industrial manufacturing and infrastructure development, which also result in the emission of dust and other gases, such as SO₂, NOx, and NH₃.
Augmentation of coal capacities in Asia-Pacific
Among fossil fuels, coal is the most widely used fuel in power plants. Coal is also the most readily available fuel in most developing and developed nations. Other benefits of using coal as a fuel include reliability, affordability, safety and efficiency. The most important driver for the use of coal is reliability as coal can provide power during peak power demand, either as base load or off-peak power.
Growing packaged food retail industry
The food and beverage industry has twice as many combustible dust-related fire and explosions when compared with other end user industries, and a dust collector is used to protect the health and safety of workers and consumers. The changing trends in consumer preferences, such as the growing demand for frozen, ready-to-cook, and snacking food products, are creating the demand for dust collectors used in the food industry. Moreover, niche markets, such as sweet and savory, gourmet food, organic, and natural product sectors, also require preservation.
Bulk material handling systems market will account for $5B by 2027
The global bulk material handling systems market is expected to register a compound annual growth rate of 4.3 percent between 2017 and 2027, according to a study recently published by Future Market Insights. In 2016, the market was valued above USD $3 billion and is projected to reach more than $5 billion by the end of 2027.
The sales of bulk material is exceedingly reliant on the demand for electricity and the development in the distribution and transmission network in several regions, according to study, "Bulk Material Handling Systems Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027)."
Mining and marine infrastructure to positively influence market growth
The concentrated availability of bulk commodities such as coal, iron ore and petroleum products, has enhanced intra-connectivity among all the countries around the world. This consolidation of resources and productivity is an important factor responsible for connecting the world through sea routes. China, which is a prominent country in terms of import as well as export of bulk commodities, which is almost 60 percent of world trade, has exhibited a comparatively slow economic growth and has thus reduced import of dry bulk in the last couple of years.
Despite the economic slowdown, the global seaborne trade crossed over 10 billion tons in 2015 and is anticipated to witness potential growth over the course of the forecast period. Increasing demand for minor commodities and liquid bulk is estimated to be one of the main drivers responsible for the growth of the bulk material handling systems market during the forecast period. Furthermore, the growing activities pertaining to mining in developing as well as developed regions and increasing construction activities, especially in GCC countries are expected to bode well for the growth of the global bulk material handling systems market in the coming years.
Europe to remain dominant
The maritime industry forms a crucial part of the economy of Europe. Countries such as Russia, Netherlands, the U.K., Denmark, and Holland, among others are highly developed in maritime and shipbuilding technology. A wide range of maritime services are linked to shipbuilding.The growth in the marine industry in European regions in the coming years is expected trigger increasing sales of bulk handling systems in this region.
Price reduction to play a key role in gaining strategic advantage
In order to stay competent in the market and also cater to the need of the end-use industry verticals, manufacturers are focusing on reducing prices, providing consumers with a wide range of options, maintaining a large product portfolio, and also ensuring long-term supply relations with these accounts. This will also help the players in expanding their market share as well as customer base. Some of the leading companies operating in the market are FL Smidth, Thysseenkrupp, Techint Group, Hitachi Construction Machinery Co., Komatsu, and L&H Industrial among several others.