Markets Update: Healthcare packaging market expected to grow, world beverage refrigeration market predicted to hit $4.5B by 2024

Sept. 25, 2019

Market trends and insights from around the process industries 

Rapid shift towards plastic packaging expected to generate revenue growth for the key players in healthcare packaging market

According to research from Transparency Market Research, the global healthcare packaging market is expected to expand at a CAGR of about 5% between 2019 and 2027.

Various formats used for the packaging of pharmaceuticals, biologicals, medical supplies and medical equipment are included in the study of healthcare packaging in this report. Plastic material is mostly used in the manufacturing of healthcare packaging due to its high sterilization and tamper-evident properties. Both, flexible and rigid packaging formats are used in healthcare packaging as per the need for storage and transportation.

The report predicts that the medical supplies end-use segment is expected to drive the healthcare packaging market growth during the forecast period. More than half of healthcare packaging was made from plastic material in 2018, while paper and paperboard hold the second position in material type, and are poised for high growth during the period of 2019 to 2027.

Report: HDPE and PP plastic electrical conduit pipes continue to hold high-selling potential

The global sales of electrical conduit pipes reached about 26,400 thousand tons in 2018, according to Persistence Market Research’s report on the electrical conduit pipe market. According to the research, the electrical conduit pipe market is estimated to grow by a compound annual growth rate (CAGR) of 5% in 2029, primarily influenced by the recent government investment on the smart grid project.

According to the report, increasing electricity consumption in the rural area is anticipated to drive demand for the electricity production, which is expected to positively drive the electrical conduit pipe market. Furthermore, increasing usage of modern electric appliances in rural areas will contribute to the build-up of the electrical conduit pipe market through to 2029. The global electrical conduit pipe market reflected a value of $26 billion in 2018, and is projected to reach a market valuation of about $43 billion by the end of the 2029.

Expansion of coal-fired plants fostering the demand for industrial air preheater, report finds

Global sales of industrial air preheater reached about 450 units in 2018, as disclosed by a new report from Fact.MR. According to the research, the industrial air preheater market is predicted to grow by about 3.2% year-over-year in 2019, primarily influenced by the prominent players investing in manufacturing operations in the global industrial air preheater landscape.

According to the report, increasing center of attention on new developments and demand in various end use sectors is subsidized to enhance revenue generation of industrial air preheater market through 2029. Coal-fired plants and other industries’ expansion around the globe, will also continue to provide a stimulus to the sales of industrial air preheater in 2019 and further.

Industrial air preheater is witnessing a significant growth in demand. The regenerative type of air preheater dominates the market, as it is used in thermal power plants and chemical industries where the large capacity boilers are installed. Besides, the regenerative type of industrial air preheater offers easy replacement of components and weighs significantly more than the recuperative industrial air preheater. Increasing demand for fuel has influenced an exponential growth of petrochemical industries, which is foreseen to create ample opportunities for industrial air preheater market in the years to come.

According to the study, end use sectors will continue to markedly prefer rotary type regenerative industrial air preheater, with worldwide sales poised to reach about 350 units in 2019. Demand for the recuperative type industrial air preheater is estimated to reach around 90 units by the end of 2019. Demand for regenerative type industrial air preheater will majorly be driven by growing coal-fired plants in developing nations. Moreover, industrial air preheater finds a wide range of application in waste heat boiler, flue gas boiler and other boilers, thereby favoring the manufacturing sectors worldwide.

Worldwide beverage refrigeration market is expected to surpass $4.5 billion by 2024, GMI study finds

Increasing health consciousness coupled with the availability of variety of nourishment drinks have attracted significant amount of consumption. Changing consumer preference toward packaged drinks that are convenient to use at home will support the demand of beverages. In fact, the consumption of packaged drinks globally has surpassed 1.05 trillion liters in 2016.

Technological advances used for the reduction of overall cooling time in the refrigerator will drive the beverage refrigeration industry trends. Surge in the demand of particular freezers like powerful filtered water and bottom freezer drawer by consumers will help expand the product scope.

The global consumer goods industry has been highly penetrated by hypermarkets and supermarkets that have led to extensive buying convenience and will foster beverage refrigeration market size over the forthcoming years. Global food industry is expected to growth at a rate of 3.4% and $9.5 trillion valuation through 2024, according to research from Global Markets Insights.

Increasing consumption of alcoholic products will create a need for specialized cooling system that will help product penetration worldwide. Rising local consumption across developed countries will stimulate the global production of refrigerators. Manufacturers are expected to invest in the development of new products in compliance with the strict regulations by governments.

Electric and solar chemical injection pumps see increased sales, according to Fact.MR

According to a Chemical Injection Pumps Market report by Fact.MR, nearly 1,500 thousand units of chemical injection pumps were sold in 2018, and the sales are expected to record over 4% year-over-year growth in 2019. In addition to soaring applicability in the oil and gas industry and water treatment projects, the sales of chemical injection pumps will continue to receive a strong impetus from the growing trend of high-efficiency solar-powered pumps. This report provides a long-term overview of the chemical injection pumps market for the period, 2019 to 2029. The chemical injection pumps market is anticipated to record a CAGR of nearly 5% through 2029.

According to analysis, the oil and gas industry will also remain among the key focus areas of vendors operating in the chemical injection pumps market. A number of pipeline operators are already using chemical injection methodologies for the injection of corrosion inhibitors into pipelines or well sites.

As water-quality issues and declining number of natural freshwater reserves continue to exert an additional pressure on governing bodies to meet the cumulative demand for water supply, the water treatment landscape is likely to witness emergence of multiple key developments in the near future. A number of water treatment initiatives are underway, particularly across developing countries, bolstering the demand for associated equipment, such as chemical injection pumps.

Pneumatic and hydraulic pumps collectively account for around 50% of total sales of chemical injection pumps. Whereas, electrically powered pumps alone account for over a third of overall sales, as indicated by the study. The high selling potential of electric chemical injection pumps is attributed to their higher adoption across the oil and gas industry in a bid to achieve significantly reduced methane emissions. Tightening regulatory framework for emission control and the thriving global energy-efficiency drive are necessitating the mass shift of manufacturers to sustainable solutions. Thus, the emergence of a lucrative market for solar-powered chemical injection pumps is projected in the forthcoming years. Rising popularity of intelligent metering pump technology for quantitative regulation of injection chemicals also marks an important trend in the chemical injection pumps market.

Power generation pumps to see steady growth and increased demand for centrifugal pumps according to Fact.MR

According to the Power Generation Pumps Market report by Fact.MR, the power generation pumps market is likely to witness steady growth, with global demand expected to exceed 4 million units by the end of 2018. The demand for power generation pumps is expected to reach 3.7% CAGR in terms of volume during 2018-2028.

The growth in the power generation pumps market is influenced by rising energy demand, especially in developing regions. Integration of new technologies including sensors to monitor different parameters in the power generation pumps is also on a rise. The demand for centrifugal pumps is likely to be influenced by its various features, such as small size and low costs.

The development of new coal and oil power plants across various countries is also driving the power generation pumps market growth. According to the International Energy Agency (IEA), coal generation increased by 3% in 2017 after witnessing a fall in last two years. Substantial growth in coal generation is seen in India and China. Moreover, with the share of around 30%, coal-fired power generation remains the largest source of energy worldwide.

Efforts are being made to improve the coal power plants design and power generation pumps to boost efficiency and flexibility of the plants. The coal-fired power plants are deploying efficient supercritical and ultra-supercritical coal power generation technologies.

According to the report, power generation pumps with small capacity of up to 500 gpm are likely to witness highest growth in the coming years. The demand for smaller power generation pumps is increasing due to low cost and have smaller motors, resulting in less power consumption.

Global pressure relief valve market to see noteworthy growth, according to PMR

Based on a report, Pressure Relief Valve Market by Persistence Market Research, the global pressure relief valve market is estimated to witness noteworthy growth during the forecast period, owing to factors such as rising demand from pharmaceutical and chemical, oil and gas, and power generation industries. The global pressure relief valve market was valuated at around $4.2 billion in 2017 and is expected to expand at a CAGR of 3.5% during the slated period of 2018 to 2028.

Pressure relief valves find significant application in various end-use industries such as oil and gas, chemical processing, power generation, paper and pulp, food and beverage, pharmaceuticals and mining, among others. The oil and gas segment is estimated to be one of the prominent end-use industry segments in the pressure relief valve market and is expected to account for more than one-fourth of the total pressure relief valve market throughout the forecast period.

Besides oil and gas, pressure relief valves also find important application in the chemical processing industry, which is also expected to create significant revenue for the global pressure relief valve market. This is driven by the introduction of chemical plants for the manufacturing of crude oil by-products across the Latin American region.

On the basis of product type, spring-loaded products are expected to be the most commonly sold product, accounting for a prominent share in the global pressure relief valve market throughout the forecast period. However, in terms of growth rate, the pressure and temperature actuated segment is considered to project relatively higher growth in the coming years.

Based on set pressure, the medium pressure relief valves segment is estimated to account for nearly one-half of the market size, owing to their vast application in various end-use verticals.

Industrial valve market to see growth, and steel continues to gain preference over other materials according to FMI study

According to a market research report, Industrial Valves Market by Future Market Insights (FMI), the global market for industrial valves is projected to witness modest growth by the end of 2019 — up from the revenues worth $61 billion registered in 2018. The report suggests that the increasing exploration activities for new water sources will predominantly favor the growth of market over the course of coming years.

The steady expansion of the chemical industry and revival of oil and gas industry are also likely to play a crucial role in pushing sales of industrial valves at a global level. Furthermore, the report indicates that abundant opportunities exist in chemical and water and wastewater industries.

With the onset of Industry 4.0 and the reciprocating shift of industries toward automation, the industrial valves landscape is compelled to move beyond its traditional valve engineering models. Although manually operated valves still account for almost two-thirds of total sales, FMI foresees a rapidly progressing market scenario for automated valves in the next few years.

By type, the gate type of industrial valves segment is expected to hold prominent value shares of the global industrial valves market. Furthermore, the globe valve segment is expected to be the prominent segment throughout the forecast period. Gate valves, closely trailed by globe and ball valves, are identified to remain the sought-after industrial valve types throughout the forecast period. A number of manufacturers are however focusing on investments in globe industrial valves. Research also highlights visibly growing market attractiveness of butterfly valves across industries.

The analysis of industrial valves market on the basis of materials reveals that cast steel, carbon steel and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for approximately 85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.

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