Global Ozone Generator Market Industry Key Revenue Pockets

The global ozone generator market size is projected to grow from USD 1.0billion in 2020 to USD 1.4billion by 2025, at a CAGR of 6.2% during the forecast period 2020 to 2025. The formulation and implementation of stringent regulations regarding wastewater treatment in various countries around the globe are expected to drive the demand for ozone generators in the coming years.

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The increasing water scarcity across the globe, along with environmental regulations related to the release of wastewater from industries and municipalities into the environment in emerging economies such as China, Brazil, Russia, and India, led to the rise in the installation and use of ozone generators. Emerging economies, such as India and China, have implemented various regulations for the installation of ozone generators across end-use industries, such as pharmaceuticals, chemicals, pulp & paper, and textiles. This is expected to accelerate the growth of the ozone generator market across the globe.

Based on the applications, the ozone generator market has been segmented into water purification, air purification, organic synthesis, food processing, pulp bleaching, medicine & aesthetics, surface treatment, aquaculture, and others. The water purification segment accounted for a largest share in the sludge ozone generator market in 2019.Ozone generators are widely used for water disinfection, purification, and de-colorization in water & wastewater treatment plants, swimming pools, cooling towers, and drinking water. Stringent laws & regulations implemented by the environmental bodies and governments for water & wastewater treatment are expected to propel the growth of the water purification segment.

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Based on technology, the Ozone Generator Market has been segmented into corona discharge, ultraviolet radiation, radio chemical, and electrolysis.The corona discharge segment accounted for the largest share of the sludge ozone generator market in 2019. The large share can be attributed to the advantages of corona discharge technology over other materials. This technology is cost-effective and has comparatively low maintenance.

Europe, Asia Pacific and North America, are significant regional markets for ozone generators.North America accounted for the largest share of the ozone generator market in 2019. The large market share is due to the vast industrial base in the region, especially in the US. The growth of the market in this region can be attributed to the rising population, increasing awareness among people about the advantages and applications of ozone generators, and stringent implementation of various government regulations regarding water & wastewater treatment. The key players operating in the North American ozone generator market are Xylem, Corotec Corporation, and MKS Instruments.Europe accounted for the second-largest share in 2019 and Asia Pacific is projected to be the fastest-growing market for ozone generator during the forecast period.

Global Commodity Plastics Market Industry Leaders

The global commodity plastics market size is projected to grow from USD 468.3billion in 2020 to USD 596.1 billion by 2025, at a CAGR of 6.0% between 2020 and 2025. The major driving factors of the market include the growing packaging industry, increased disposable income-generating high demand for consumer goods, growing production of lightweight electric vehicles, and increasing metal prices.

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The key players in the commodity plastics market are Exxon Mobil (US), LG Chem (South Korea), Sumitomo Chemical (Japan), The Dow Chemical Company (US), SABIC (Saudi Arabia), BASF SE (Germany), LyondellBasell (Netherlands), Sinopec (China), Ineos (Switzerland), Formosa Plastics (Taiwan), Mitsubishi Chemical (Japan), Borealis AG (Austria), Chevron Phillips Chemical (US), ENI SpA (Italy), Reliance Industries (India), Braskem (Brazil), Hanwha Chemical (South Korea), Lotte Chemical (South Korea), Indian Oil (India), Haldia Petrochemicals (India), Nova Chemicals (Canada), Qenos Pty (Australia), Qatar Petroleum (Qatar), Westlake Chemical (US), and PTT Global Chemical (Thailand). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch/development, and partnership, contracts & agreements, a joint venture between 2015 and 2020, to enhance their market shares and expand their global presence.

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Exxon Mobil (US) is a leading manufacturer of commodity plastics and is expected to maintain its market position in the future. The company is constantly strengthening its position in the commodity plastics market by expansion, agreement, and investment strategies. For instance, in 2016, the company increased its PE capacity by 65.0%. In 2017, the company invested USD 20 billion in the US Gulf region to increase its capacity of commodity plastics. The company has a strong geographical presence in APAC, North America, and Europe.

 ·         In March 2019, Exxon Mobil announced the plans to build a polypropylene manufacturing unit with an investment of about USD 469 million in Baton Rouge, Louisiana, the US.

The Dow Chemical is one of the largest manufacturers of commodity plastics. With advancements in the development of commodity plastics through R&D activities, the company is expected to maintain its position in the commodity plastics market. The company manufactures commodity plastics under its performance plastics business segment, which is one of the growing segments of the company. It has adopted strategies, such as mergers, new product launches, and expansion, to lead in the commodity plastics business and increase its sales. For instance, in 2017, the company expanded its production capacities of PE and PP by 400 KT and 750 KT, respectively, through the establishment of production facilities in Texas, US.

·         In April 2019, The company became the subsidiary of Dow Inc after split from the DowDuPont group.

Global Green Hydrogen Market Industry Leaders

Increasing demand for clean fuel from mobility industry to give boost to the Green Hydrogen demand during the forecast period

The global green hydrogen market is projected to grow from USD 444 million in 2021 to USD 4,373 million by 2026, at a CAGR of 58.0% during the forecasted period..Green Hydrogen are increasingly used in the mobility, power, industrial, grid injection, chemical and other end-use industries. The increasing demand of mobility industry drives the demand for Green Hydrogen. Eventhough, the outbreak of COVID-19 has created some disruptions in the industry and caused some delays in the projects, the investments in the market have not stopped. With the first deadline of the Paris Agreement in less than 10 years, the participating countries are moving aggressively towards an emission free economy. Green Hydrogen economy is amongst the top strategies to achieve this.

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The mobility industry faces many hurdles in changing to emission free substitutes. Currently battery-operated electric vehicles are gaining traction, but they have the disadvantage in terms of range and power. Fuel Cell Electric Vehicles (FCEV) are an alternative to this. These vehicles use hydrogen to power the vehicle. They have high power to weight ratio and a refilling time of less than 5 mins as compared to 60 mins (average power charge time for 80% capacity) for conventional electric vehicles. These vehicles have already been deployed in many countries for industrial mobility solution (majorly forklifts).

Shipping industry is responsible for nearly 3% of all global emissions. Industry leaders are paving new way by developing engines and ships that would run on hydrogen. Currently, only a few ships use green hydrogen directly, it is usually converted into ammonia or synthetic fuels to be used in the shipping industry. Ammonia is gaining wide acceptance as fuel in the maritime industry. This is due to the fact that it offers ten times energy density than that of lithium-ion battery. It is also compatible with both internal combustion engines and fuel cells. Another advantage of using green ammonia is that it does not require high pressure tanks for storage. Although the energy density of ammonia is nearly half of that of diesel, still to cut down emissions the shipping industry seems excited to make the shift.

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Toshiba (Japan), Siemens (Germany), Air Liquide (France), Linde (Ireland) and Nel (Norway) are some of the major players in the green hydrogen landscape. The companies are collaborating with each other in various projects and investing in development of technologies to increase the efficiency of the process. The green hydrogen manufacturing process suffers energy loss at each stage and major loss comes from manufacturing. The electrolyzers have now developed to provide efficiency of above 80% and for Solid Oxide electrolyzers, the efficiency even reaches 100%, although these electrolyzers are yet to be commercialized.

Toshiba Energy Systems & Solutions Corporation is a subsidiary of Toshiba Corporation. It provides energy-related solutions, including energy transmission and distribution and heavy ion therapy solutions. It has long experience and expertise in a wide range of power generating and transmitting systems and energy management technology, such as renewable energy, energy conversation, and energy matching. The company's green hydrogen process is CO2-free throughout the entire cycle of the production, storage, and use of hydrogen, contributing to curbing global warming. It is one of the world leaders in the green hydrogen market. It focuses on innovation as well as R&D. The company has been working on developing a next-generation water electrolyzer called SOEC for producing large quantities of high-quality hydrogen

Siemens Energy AG is another energy company in the field of green hydrogen, formed by the spinoff of the former Gas and Power division of Siemens Group and includes a prominent share (67%) of Siemens Gamesa. The Siemens & Gamesa Renewable Energy segment focuses on promoting, designing, developing, manufacturing, and supplying products, installation, and technologically advanced services in the renewable energy sector, focusing on wind power plants. The company aims at integrating renewables in developed industry, energy, and mobility infrastructures with Power-to-X solutions using green hydrogen. Green hydrogen is generated using PEM electrolysis with the help of renewable energy. Currently, the company is developing and implementing the world's first integrated and commercial large-scale plant to produce climate-neutral e-fuel. The project is in Chile and is known as the Haru Oni project (Highly Innovative fuels (HIF) pilot project).

Global Medical Refrigerators Market Industry Leaders

The medical refrigerators market is projected to grow from USD 3.3 billion in 2019 to USD 4.2 billion by 2024, at a CAGR of 5.3% from 2019 to 2024. Technological advancements, such as wireless temperature monitoring, and remote sensor technologies, made in the medical refrigerators by many prominent players is one of the key factors driving the growth of the medical refrigerators market across the globe.

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Thermo Fisher Scientific Inc. (US), Blue Star Limited (India), Helmer Scientific (US), Vestfrost Solutions (Denmark), Felix Storch, Inc. (US), Philipp Kirsch GmbH (Germany), Haier Biomedical (China), Follett LLC (US), PHC Holdings Corporation (Japan), LEC Medical (United Kingdom), and Zhongke Meiling Cryogenics Company Limited (China) are some of the leading players operating in the medical refrigerators market. These players have adopted strategies such as new product launches, expansions, acquisitions, new product developments, collaborations, partnerships, and agreements to enhance their position in the market.

In November 2018, LEC Medical launched the Control Plus, which is a new range of medical refrigeration that can measure the core temperature for both fridges and vaccines. This product also has an external digital controller and temperature display. The new product launch strengthened the company’s position in the medical refrigerator & freezers market for pharmacies, hospitals, laboratories, and general practice end-user applications.

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In August 2017, Thermo Fisher Scientific, Inc. acquired Patheon NV, which is a leading global provider of high-quality drug development and delivery solutions to the pharmaceuticals and biopharma sector. This acquisition, worth USD 7.2 billion, helped the company achieve a competitive edge in the medical refrigerator & freezers market in the North American region. 

Detailed Qualitative & Quantitative Analysis on Metal Cleaning Chemicals Market Industry

The global metal cleaning chemical market size is projectedto reach USD 16.5billionby 2025 from USD 12.9billion in 2020, growing at a CAGRof 5.0%, in terms of value during the forecast period. The anticipated growth in emerging economies post COVID-19 are expected to help the metal cleaning chemical demand growth.

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Increasing demand for aqueous-based metal cleaning chemicals, need for precision metal cleaning, rising demand for metal from end-use industries and rising concern toward industrial cleaning & maintenance and worker safetyis expected to support the growth of the metal cleaning chemicals market. However, government & environmental regulations isrestraining the growth of the market. Green and biobased alternatives to traditional metal cleaning chemical products has created opportunities for manufacturers.

The key players in the metal cleaning chemicals market include BASF SE (Germany), Evonik Industries AG (Germany), Stepan Company (US), Eastman Chemical Company (US), The Chemours Company (US), The Dow Chemical Company (US), Quaker Houghton (US), Nouryon (Netherland), 3M Company (US), Element Solutions (US), Kyzen Corporation (US), Spartan Chemical Company (US),Chautauqua Chemicals Company Inc. (US),Hubbard-Hall (US),Zavenir Daubert (India), Enviro Tech Inc. (US),SurTec (Germany), DST Chemicals (Denmark), NuGeneration Technologies (US),Crest Chemicals Inc. (US),ZET-Chemie GmbH (Germany), Lincoln Chemical (US), Apex Industrial Chemical (UK), EnviroServe Chemicals (US), and Aceros Metal Treatment (Netherlands).

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Players in the metal cleaning chemical market are mainly concentrating on agreements, and expansions to meet the growing demand for metal cleaning chemical for various applications.

The growth of  metal cleaning chemical market has been largely influenced by agreements were undertaken between 2019 and 2020. Companies such as Evonik Industries (US), BASF SE (Germany) andStepan Company (US) have invested in R& D to enhance their market position by creating developed  products. They are also focusing on expansion to strengthen their foothold in the regions.

Evonik Industries (US) is focused on expansions and acquisitions to meet the growing demand in the metal cleaning chemicals market. In  April 2020, Evonik doubled its production capacity for its high-performance polyamide Trogamid CX at a facility in Marl, Germany. The expansion will help cater to customers from various sectors such as water management, filter technology, laboratory and medical engineering, and production of containers for the cosmetics industry. In February 2020, Evonik completed its acquisition of US-based chemical manufacturing firm PeroxyChem. The acquisition will create more opportunities in the market for environmentally-friendly disinfectants. In September 2019, Siemens is set to build an industrial power plant for Evonik in Germany. The power plant is expected to contain two units of 90 MW to produce electricity and to process steam for the chemical park.

Stepan Company (US) is focused on acquisition to meet the growing demand formetal cleaning chemicals. In March 2020, Stepan Company completed the acquisition of NatSurFact® Business, a rhamnolipid-based line of bio-surfactants derived from renewable sources from Logos Technologies. In March 2018, Stepan Company completed the acquisition of a surfactant production facility and part of the surfactant business from BASF in Mexico. The facility has 50,000 metric tons of capacity, 124,000 square feet of warehouse space, a large laboratory, and office space.

BASF SE (Germany) is focused on expansion to meet the growing demand for metal cleaning chemical market. In November 2019, A new laboratory and an office building were completed as part of its expansion process in Langelsheim, Germany. The site will focus on the development and production of aerospace technologies. In September 2019, The company started construction of its surface treatment site in the Dushan Port Economic Development Zone of Pinghu, Zhejiang province, China. The site will have production, administrative offices, a laboratory, and a warehouse. In January 2019, Chemetall came into a conclusive agreement with Polymer Ventures to acquire its automotive paint detackification business and shares of Galaxy Chemical Corporation.

The Chemours Company (US) focuses on expansions and acquisition to strengthen its market position in the global metal cleaning chemical market. In March 2020, The company inaugurated its new world-class innovation center, named The Chemours Discovery Hub at the University of Delaware's Science, Technology and Advanced Research (STAR) Campus, US. In August 2019, Chemours acquired Southern Ionics Minerals, which is involved in the business of mining and mineral exploration. Southern Ionics Minerals is a subsidiary of Southern Ionics Incorporated, a private chemical manufacturing company from West Point, Mississippi.

Global Lithium-ion Battery Recycling Market Industry Study Coverage

The report "Lithium-ion Battery Recycling Market By Battery Chemistry (Lithium-nickel Manganese Cobalt, Lithium-iron Phosphate, Lithium-Manganese Oxide, LTO, NCA, LCO), Industry (Automotive, Marine, Industrial, and Power), and Region - Global Forecast to 2030" - MarketsandMarkets: The lithium-ion battery recycling market is estimated at USD 1.5 billion in 2019 and projected to grow from USD 12.2 billion in 2025 to USD 18.1 billion by 2030, at a CAGR of 8.2% from 2025 to 2030.

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The rising demand for electric vehicles to control the increasing pollution levels has spurred the consumption of lithium-ion batteries. Since these have lower self-discharge rates than other rechargeable cells such as Ni-Cad and NiMH, they offer high energy and power density and are thus used in various applications, from cellular phones, industrial equipment, to electric-drive vehicles.

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Lithium Manganese Oxide is the highest-recycled battery type of the lithium-ion battery recycling market

Based on chemistry, the lithium manganese oxide segment is projected to grow at the highest CAGR from 2025 to 2030. A lithium-manganese oxide (LMO) cell is a three-dimensional spinel-structured cell with lithium manganese as cathode material. The spinel structure in LMO cells offers various advantages such as lower internal resistance, high thermal stability, improved current handling, and enhanced safety. These attributes of LMO cells make them suitable for applications such as power tools and hybrid and electric vehicles.

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The power sector is projected to grow at the highest CAGR from 2019 to 2024 in the lithium-ion battery recycling market

Based on end use, the power sector is projected to grow at the highest CAGR from 2019 to 2024. Each year EU produces approximately 24 kg electrical and electronic waste per citizen, which includes lithium used in high-tech industries. EU has implemented regulations which required battery collection rates of at least 25% by the end of September 2012 and to gradually increase these to 45% by the end of September 2016. The power sector is working on generating renewable energy and storing it for multiple uses. The low self-discharge rate of lithium-ion batteries is one of the factors driving its adoption in smart-grid and renewable energy storage systems. This is expected to lead the power sector generating a high output of spent lithium-ion batteries for recycling.

Automotive is projected to be the largest lithium-ion battery recycling segment

Based on end use, automotive is projected to be the largest segment in the lithium-ion battery recycling market and is expected to lead in the coming years. Increasing adoption of electric vehicles has driven the demand for lithium-ion batteries since there is low accessibility to raw materials such as lithium and cobalt most of the countries and players are recycling discarded spent lithium-ion batteries.

Asia Pacific region is projected to grow at the highest CAGR in the lithium-ion battery recycling market

The lithium-ion battery recycling market in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2024. The Asia Pacific region comprises China, Japan, India, and other countries. The Asia Pacific is projected to grow at the highest CAGR and is also one of the largest markets for lithium-ion battery recycling in applications such as electric vehicles and energy storage. China and India are one of the fastest-growing economies in the world. The demand for lithium-ion batteries is very high in the Asia Pacific region, owing to the increasing population and its need for industrial applications.

The key market players in the lithium-ion battery recycling market are Umicore (Belgium), Glencore International AG (Switzerland), Retriev Technologies Inc. (US), Raw Materials Company Inc. (RMC) (Canada), American Manganese Inc. (Canada), Li-Cycle Corp. (Canada), International Metals Reclamation Company, LLC (INMETCO) (US), GEM Co., Ltd (China), SITRASA (Mexico), Neometals Ltd (Australia), RECUPYL SAS (France), Metal Conversion Technologies (MCT) (US), TES-Amm Singapore Pte Ltd (Singapore), Fortum Oyj (Finland), and Contemporary Amperex Technology Co. Ltd (CATL) (China). These players have adopted the expansions, acquisitions, divestments, collaborations, and joint ventures strategies to enhance their positions in the market.

Study Coverage:

This report provides insights on the drivers, restraints, opportunities, and challenges impacting the growth of the lithium-ion battery recycling market. It offers a detailed overview of the market across three regions, namely, Asia Pacific, Europe, and North America. Key players operational in the lithium-ion battery recycling market focus on new product launches, supply contracts, acquisitions, and expansions. This research report categorizes the lithium-ion battery recycling market based on battery chemistry, end use, and region.

CF & CFRP Market - Economic Restoration & Growing Demand for High-Performance Materials to Drive the Market Post-COVID-19 Pandemic

The global CF & CFRP market size is USD19.7 billion in 2021 and is expected to reach USD 35.4 billion by 2026, projecting a CAGR of 12.4% between 2021 and 2026.CF & CFRP have high demand from aerospace & defense, sporting goods, and automotive end-use industries.This is due to the superior performance properties of CF & CFRP, such as low weight, high strength, corrosion resistance, and FST properties.However, the outbreak of COVID-19 has created ripples in the application industries, leading to reduced demand for CF & CFRP. Due to the lockdown scenario globally, the need for CF & CFRPfrom the composite component manufacturershaddeclined sharply in 2020.

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Thermoset resin dominated the CF & CFRP market industryinterms of value in 2020. Thermoset CFRPis extensively used in aerospace applications and wind energy, owing to their superior strength-to-weight ratio and anti-corrosive property. The aerospace industry and wind energy have widely adopted the epoxy resin-based CFRP materials in various components. It dominated the CF & CFRP market in 2020, in terms of value. However, the thermoplastic resin segment is expected to register faster growth due to its increasing applications in the automotive end-use industry.

The lay-up manufacturing process holds the largest share in the CFRP market in terms of value. This large share is attributed to the developed aerospace & defense industry and recovery of the marine industry at the global level. The lay-up process includes hand lay-up and spray-up, widely used for carbon fiber composite components manufacturing for aerospace & defense and marine industries for a wide range of products. Pultrusion is a major process due to the increasing use of pultruded CFRP profiles in wind energy and industrial applications.

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The aerospace & defense end-use industry holds the largest share in terms of value in the CF & CFRP market. This is due to the high demand for carbon fiber composites in commercial passenger aircraft and fighter planes in tandem with increasing demand for A380 and Boeing 787 aircraft from Boeing and Airbus. The launch of new aircraft such as the Boeing 777x and China’s indigenously built Comac C919 is expected to boost the CFRP demand in the near future. The novel coronavirus pandemic has created ripples across the global aerospace industry, affecting the global supply chains, which move materials and components rapidly across borders and fabrication facilities.In China, Airbus had to halt the production of A320 and A350 models in Tianjin, for a short period, in February 2020. Due to the lockdown scenario in Tianjin, there The scenario of the aerospace industry in Europe was no different. was a backlog of 7,725 aircraft deliveries, most of which were A320 and A330 models.For instance, Airbus has halted production and assembly activities at its plants in France and Spain and two plants in Germany due to a state of emergency.

In North America, Boeing had announced to keep its factories in Seattle closed indefinitely because of the novel coronavirus pandemic. Boeing has also closed its 787 Dreamliner plant in South Carolina. Airbus also has stopped production at its plant in Mobile, Alabama, US.However, with government support and recovery in the global economy, the aerospace industry is expected to reach its pre-COVID levels by 2023, thereby increasing the demand for cabon fiber composites.

Wind energy was the second-largest consumer of carbon fiber composites as these composites offer a higher strength-to-weight ratio over many structural materials, excellent corrosion resistance, and other desirable properties. The automotive industry is expected to be the fastest-growing carbon fiber market due to the increasing use of CFRP in a large number of vehicles. 

Top Specialty Oilfield Chemicals Market Industry Leaders

The specialty oilfield chemicals market size is projected to reach USD 13.4 billion by 2025 from USD 10.9 billion in 2020, at a CAGR of 4.2%, during the forecast period. North America is the largest market, followed by Middle East & Africa. An increase in crude oil production after an expected decrease in COVID-19 impact in the near future is expected to drive the market during the forecast period. Stringent environmental regulations and geopolitical issues in the Middle East region are the factors restraining the market. The discovery of new oilfields and an increase in aging oil reservoirsare expected to provide high growth opportunities to manufacturers.

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BASF SE (Germany), Clariant (Switzerland), The Dow Chemical Company (US), Solvay (Belgium), Ecolab  (US), Halliburton (US), Schlumberger Limited (US), Nouryon (Netherlands), Baker Hughes Incorporated (US), Kemira (Finland) are the major players in this market.

BASF SE (Germany) is the largest player in the market. It is the world’s leading chemical company having the largest chemical site in Ludwigshafen, Germany. The company is maintaining its position in the market by developing innovative solutions according to customer requirements.  In 2019, the company completed the merger of its paper wet-end and water chemical business with Solenis (US).  This merger has helped the company to expand its product portfolio and offer cost-effective solutions for customers in the oil & gas industry.

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Ecolab Inc., through Nalco, sells a wide range of specialty oilfield chemicals. The company has a strong geographical presence and operates in more than 170 countries across North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The company has strengthened its specialty oilfield chemicals businessthrough acquisitions. For instance, Ecolab Inc. acquired Champion Technologies (US) and Corsicana Technologies (US) for, approximately, USD 2.3 billion. Following the acquisition, Ecolab has formed a new business unit called Nalco Champion. The acquisition strengthened the company’s specialty oilfield chemicals business by opening up new oil &gas markets.

Shape Memory Alloys Market Industry Revenue Pockets

The global Shape Memory Alloys Market size is estimated to be USD 11.0 billion in 2021 and is projected to reach USD 18.8 billionby 2026, at a CAGR of 11.2% between 2021 and 2026.  The Shape Memory Alloys market is expected to witness a steady growth forecast period due to growth in the biomedical, aerospace &defense, and automotive industry.

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Shape memory alloys (SMAs) are metal alloys that have the ability to remember their original shape and revert to a preformed shape when heated. These alloys are typically made by casting, vacuum arc melting, or induction melting technique with the combination of different metals. Some of the major types of SMAs are nickel-titanium (nitinol), copper-based alloys, and iron-manganesesilicon (Fe-Mn-Si). These alloys are primarily used in medical devices and implants. Apart from biomedical, other end-use industries of SMAs include aerospace &defense, automotive, and consumer electronics & home appliances.

Based on type, the Shape Memory Alloys market is segmentednickel-titanium (nitinol), copper-based alloys, iron-manganese-silicon (Fe-Mn-Si), and others. Nitinol alloys are the most widely used type of shape memory alloys. These alloys are extensively used in the biomedical industry. They show the characteristics of pseudoelasticity, high fatigue strength, and biocompatibility.Copper-based alloysare predominantly used in the manufacturing of valves, pumps, propeller shafts, fasteners, electrical & electronic components, springs, chemical processing equipment, boiler feedwater heaters, and heat exchangers.Fe-Mn-Si has a lower melting point and is lower in cost than nitinol shape memory alloys. The increasing application of Fe-Mn-Si alloys in construction and advanced engineering is driving their demand globally.

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Based on end-use industry, the market is segmented into biomedical, aerospace &defense, automotive, consumer electronics & home appliances, and others. Biomedical is the largest end-use industry of SMAs, followed by aerospace &defense. Biomedical utilize shape memory alloys in implantable devices, bone staples vascular stents, guide wires, stents, orthodontic arches, implantable active devices, surgical tools, dental implants, andbeds. Shape memory alloys are widely used in biomedical industry due to their shape memory properties, biocompatibility, super-elasticity, high ductility, and resistance to corrosion. In aerospace &defense, shape memory alloys are utilized inactuators, engine (turbine, compressor, inlet, burner, nozzle), winglet, aileron, fin, rudder, elevator, stabilizer, fuselage, landing gear, wing, vortex generators. Nitinol alloys are used owing to their low weight, excellent high-temperature properties, high strength, and corrosion resistance.Shape Memory Alloys is also utilized in automotive, consumer electronics & home appliances, and othersindustry. Other industry includes construction, personal accessories, industrial machinery and transport machinery.

The Shape Memory Alloys market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa, and South America. North Americaaccounted for the largest share of the Shape Memory Alloys market in 2020, followed by APACand Europe.The increase in the aging population and the prevalence of chronic diseases have propelled the demand for life-saving medical implants. Decrease in fertility rate and an increase in life expectancy rate increases the aging population.Shape memory alloys are widely used in biomedical applications, particularly in medical implants, owing to their biocompatibility. Nitinol are widely used for medical implants owing to their characteristics such as kink resistance, constancy of stress, high elasticity, and corrosion resistance.  US dominate the market for shape memory alloys increasing use in various end-use industries, such as biomedical, aerospace and defense, automotive, consumer electronics & home appliances. APAC expect the fastest-growing market for shape memory alloys owing to increase in demand from China, India, and Japan.

The COVID-19 pandemic in 2020 impacted the global economy, with the government enforcing regulations and restrictions to minimize the spread of the virus. According to International Monetary Fund (IMF), the world GDP growth rate in 2020 was -3.3% and projected to grow 6% in 2021 and 4.4% in 2022.Major economies contracted during 2020: the US by 5.9%, Japan by 5.2%, the UK by 6.5%, Germany by 7%, France by 7.2%, Italy by 9.1%, and Spain by 8%.The businesses are coping with lost revenue and disrupted supply chains due to factory shutdowns and quarantine measures.The disruption in supply of raw material resulted in price inflation of various raw materials, including nickel, steel, silicon, and manganese.The global commercial aviation industrywitnessed a significant decrease in demand for new commercial airplanes and services, with delays in the purchase of new jets by airlines, slowing delivery schedules, and deferment of elective maintenance. In China, almost two-thirds of automobile production has been directly affected by its industrial shutdown, which largely impacted their suppliers. Moreover, the shortage of Chinese-made parts has had a heavy impact on global production.Due to increase in COVID cases, dental elective procedures were postponed. This resulted in the reduction in the number of dental patients opting for dental treatments in hospitals and dental clinics.According to the American Dental Association (ADA), the US witnessed a decline of 66% in dental spending in 2020. Around 32% of reduction in the US dental spending is expected in 2021.

Top 3D Printing Materials Market Industry Revenue Pockets

Restoration in the supply chain and recovery of the end-use industries to drive the 3D printing materials market post-COVID-19 pandemic

The use of 3D printing materials is increasing due to the increasing demand for custom-made materials for a specific application, wherein manufacturers develop a niche and superior materials by modifying their properties as per the requirements.The global 3Dprinting materials market size is estimated to grow from USD 1.6 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 23.5% between 2019 and 2024. The increasing use of 3D printing materials in aerospace & defense and the automotive industries is bolstering the market, globally.However, the outbreak of COVID-19 has created ripples across various end-use industries that created an adverse effect on the 3D printing materials market. Furthermore, lockdown scenarios in Europe and North America also have a negative impact on the market.

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The 3D printing materials market, by end-use industry, is segmented into automotive,aerospace & defense, healthcare, consumer goods, construction,and others including electronics and education.The market in the healthcare end-use industry is projected to register the highest CAGR, in terms of value, during the forecast period.Aerospace & defense is the largest end-use industry segment of the 3D printing materialsmarket, followed by the healthcare end-use industry. The growing usage of 3D printing materials is these end-use industries is bolstering the market.

The 3D printing materials market, by technology,is segmented into FDM, SLS, SLA, DMLS, and others. FDM is the most commonly used technology globally and captures the largest share in the 3D printing materials market. The DMLS technology is projected to grow at the fastest rate owing to the increasing demand for metal powders from the aerospace & defense and automotive industries.

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The 3D printing materials market, by application, is segmented into prototyping, bulk manufacturing, and R&D. Prototyping is a major application of 3D printing material, whereas the growing adoption of 3D printing in the automotive, aerospace & defense, and medical industries are driving the demand for bulk manufacturing.

By region, the 3D printing materials market is segmented into five regions, namely, North America, APAC, Europe, MEA, and Latin America. APAC is expected to record the highest growth rate in terms of value and volume during the forecast period.The growth of end-use industries such as automotive,healthcare, and consumer goods in the key countries of APAC,such as China, India, and Japan, is expected to drive the demand for 3D printing materials in the next five years. 

Read More Context About 3D Printing Materials Market Industry at

https://www.linkedin.com/pulse/look-promising-opportunities-3d-printing-materials-market-pandaya/

https://www.linkedin.com/pulse/restoration-supply-chain-recovery-end-use-industries-drive/