Insulated packaging market worth $21.5 Billion by 2026, research predicts
The global insulated packaging market is anticipated to reach $21.5 billion by 2026 according to new research published by Polaris Market Research. In 2018, the food and beverage segment accounted for the highest market share in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue in 2018.
The increasing disposable incomes and growing demand for fresh and natural products drives the market growth. Growing urbanization and improving living standards of consumers have increased the demand for insulated packaging solutions. The growing need for temperature-sensitive packaging, improved shelf life of products and high demand from the food and beverage sector boost the insulated packaging market growth.
The demand for insulated packaging has increased from industries such as cosmetics, pharmaceuticals and chemicals, among others. The increasing demand for fresh products, growth in the pharmaceutical industry, increasing trend of e-commerce and growing demand from the emerging economies are factors expected to offer numerous growth opportunities for the insulated packaging industry during the forecast period.
Fact.MR expects global control valve market to expand till 2026
Increasing industrialization and growing use of pneumatics in mechanical processes will drive the adoption of control valves to a considerable extent. According to Fact.MR, the global control valve market will register expansion at a 5.4% compound annual growth rate (CAGR) in terms of volume through 2026. By that time, the control valves market is expected to be over $15.5 billion.
Through 2026, the majority of control valves being manufactured will be developed on pneumatic actuation technology.
Ball valves and globe valves will be recognized as top-sellers in the global control valve market. The report also estimates a surging demand for butterfly valves and expects that this type of control valve will reflect a 6% CAGR in terms of volume over the forecast period.
Throughout the forecast period, control valves will be predominantly used in oil and gas applications. By the end of 2026, oil and gas applications of control valves will account for more than one-fourth share of global control valve market volumes. The report also reveals that water and wastewater management applications of control valves will register fastest sales by reflecting a 6.4% volume CAGR over the forecast period.
Robust industrial infrastructure in the US and Canada will drive the adoption of control valves across North America. The report observes North America as the largest market for control valves. By the end of 2026, North America will account for more than 30% of global control valve market volumes. The report also observes that control valve manufacturing will remain concentered in the Asia-Pacific excluding Japan (APEJ). Over the forecast period, the APEJ control valve market is assessed to expand at the highest volume CAGR of 5.8%.
Global gas leak detector market to reach $3.1 billion by the end of 2020
According to a report from Persistence Market Research, the global gas leak detectors market accounted for $2.3 billion in 2014. The global gas leak detector market is expected to reach $3.1 billion by the end of 2020, representing a CAGR of 5.29% through 2015 to 2020.
Key driving factors, identified in the global gas leak detectors market are stringent government safety norms, growing investment in oil and gas and chemical Industries and increasing commercial and residential infrastructure development. However, lower profit margin due to intense competition deferred investments in oil and gas might pose a challenge towards the growth of the global gas leak detector market. Some of the major trends identified in the global gas leak detector market are the use of Internet of Things (IoT) and artificial neural network technology and gas leak detectors.
From a regional perspective, North America, Latin America, Eastern Europe and Western Europe together contributed 50% of the global gas leak detector market value in the year 2014. Whilst Asia Pacific excluding Japan contributed total 35%, making it the largest geographical segment in the global gas leak detector market. The Middle East and Africa gas leak detector market are projected to grow at promising CAGR of 6.27% through the forecast period.
From the product type perspective, portable type gas leak detectors accounted a leading share in the global gas leak detector market value in 2014, which is projected to remain dominant throughout the forecast period. The fixed type gas leak detector market is projected to exhibit CAGR of approximately 3.8% for the year 2015 to 2020.
On the basis of technology type, the electrochemical-based gas leak detector is the predominant segment with a total share of about 38%, whille the ultrasonic, semiconductor and infrared based gas leak detector cumulatively accounted for 46.6% in the global gas leak detector market value in 2014. When compared with other remaining technology segment, the infrared based gas leak detectors is projected to grow at higher CAGR of 6.3% over the forecast period.
From an application perspective, the industrial application segment of the gas leak detector is the largest segment of the global gas leak detector market in 2014. Out of the sub-segment oil and gas is the major segment, holding the largest market share as compared with other remaining sub-segments. On the other hand, the market value accounted in the year 2014 by commercial establishment application segment is approximately 2.5 times of the value registered by the residential segment. Others application segment is expected to grow at a CAGR of 7.1% from 2015 to 2020.
Industry 4.0 to revolutionize the use of safety sensors and switches globally, study finds
According to a study by Persistence Market Research, the global safety sensors and switches market is projected to expand at a meteoric rate to register a value CAGR of 10.7% between 2017 and 2025. In 2017, the global market for safety sensors and switches was valued at around $13.8 billion and is estimated to touch a valuation higher than $30 billion by the end of the period of forecast.
Autonomous robotics and sensors technology are expected to be implemented in industries by the end of 2025. The use of robots in the production line of the manufacturing sector would give a significant boost to the use of sensors and switches. These sensors are used to monitor the functioning of robots and machines thus ensuring effective production with reduced errors and increasing profit margins. Several countries are opting for automation across various industries implementing Industry 4.0 concept. Moreover, they are looking forward to levy strict regulations related to safety in industries and commercial spaces with a view to avoid loss and damage to the property or life under any circumstance. The growing industrial revolution has thus presented potential growth opportunities for safety sensors and switches market at a global level.
Emerging economies in Asia Pacific such as China and India are witnessing a huge drift towards rapid urbanization coupled with increasing consumer disposable incomes. This has triggered the demand for emergency stop controls, pressure sensing sensors and devices and other safety devices across various industries. Several projects in this region are encouraging advancements in the manufacturing sector. Industrial automation in Asia Pacific is at its peak in countries such as Japan, China and South Korea. Other emerging counties such as India, Singapore, Malaysia, Thailand and Vietnam are also witnessing increasing trends of automation across various sectors.