The TMR report projects the global fluorspar market to exhibit a CAGR of 2.7% during the forecast period of 2017 to 2025, estimating it to reach a worldwide worth of US$1,860.8 mn by the end of 2025, considerably up from its evaluated valuation of US$1,505.3 mn in 2016. As far as growth strategies are concerned, the fluorspar market players are constantly investing in the research and development of new products. The report observes that although the degree of competition remains high owing to oversupply, the players aspire to introduce cheaper products in the cost-sensitive regions. In addition to that, fluorspar market players are also indulging in mergers and acquisitions to maintain steady supply contracts and build goodwill. The entry of new players in the near future will further intensify the competitive landscape of the global fluorspar market, particularly in the regions of Asia Pacific and the Middle East and Africa as there are plenty of reserves of fluorspar in China and South Africa.
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Product-wise, the global fluorspar market gains maximum demand for acidspar, which is mainly utilized in the production of hydrofluoric acid and aluminum. Metspar segment’s demand is dependent chiefly on the requirement for steel. Application-wise, the market for fluorspar has been bifurcated into aluminum production, steel production, hydrofluoric acid, lithium-ion batteries, and concrete additives. Geographically, Asia Pacific is the most lucrative region by a long margin, which is a reflection of increasing infrastructure projects in the region that requires a constant supply of steel and aluminum.
Growing Demand for Aluminum and Steel Driving Demand
The demand in the global fluorspar market is essentially driven by rising demand for fluorochemical as well as increasing requirement and consequent production of aluminum and steel. In the near future, the dynamics of the hydrofluoric acid market will have a direct impact on fluorspar market. Increasing investments in infrastructure projects globally is augmenting the demand for aluminum and steel. Increasing demand for aluminum and steel will in turn poise the growth of fluorspar market during the forecast period. Unconventional applications of fluorspar such as electrolyte in lithium-ion battery and concrete additive are likely to provide potential growth of fluorspar market. Industrially, fluorspar has applications in the production of enamels and ceramic glasses as well as flux for smelting. Pure form of fluorspar has applications in microscopes and telescopes as they have low light dispersion and exhibit less chromatic aberrations in comparison to unconventional glasses. Fluorspar’s usage in li-ion batteries and growing consumption of cement in the construction industry are two fresh new opportunities for the vendors operating in the global fluorspar market.
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Environmental Concerns May Hamper Market’s Growth
The global fluorspar market has several drivers, but stringent government regulations pertaining to the protection of ozone layer, as the global warming concerns escalates, is obstructing it from attaining its true potential. About 22 countries signed The Montreal Protocol in 1987, pledging to reduce the production and consumption of hydrochlorofluorocarbons (HCFCs) and chlorofluorocarbons (CFCs). This move, aimed at preventing the depletion of the ozone layer, has had a negative impact on the demand for fluorspar in the recent past.
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A fresh study by Transparency Market Research (TMR) notifies that the global fluorspar market is moderately consolidated, with a few companies holding significant chunk of overall shares. The report identifies Centralfluor Industries Group, Inc., Mexichem S.A.B. de C.V., and Zhejiang Wuyi Shenlong Floatation Co Ltd. as three most prominent participants of the fluorspar market, whereas China Kings Resources Group Co., Ltd., Kenya Fluorspar Company Ltd. (KFC), MINERSA GROUP, Seaforth Mineral & Ore Co., Inc., British Fluorspar Ltd, Mongolrostsvetmet LLC., and Masan Group are a few other notable companies connected to the value chain.
The global diesel exhaust fluid market is driven by a number of factors, majorly the rising awareness about their highly efficacious utility in reducing the harmful nitrogen oxide content of diesel engine exhaust gases. Reducing the environmental footprint of human endeavors has become a major task for governments across the world, leading to automotive exhausts facing increasing scrutiny due to their growing contribution to environmental pollution and the rise of respiratory diseases. Innovations such as catalytic converters and diesel exhaust fluid have thus become increasingly important for the automotive industry in the coming years and are likely to rise in demand at a steady rate over the coming years. The diesel exhaust fluid market is thus expected to exhibit stellar growth over the 2017-2022 forecast period.
According to Transparency Market Research, the global diesel exhaust fluid market is expected to rise from a 2017 valuation of US$10.2 bn to a 2022 valuation of US$14.4 bn at a robust 7.1% CAGR therein.
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Here are the key highlights of the global diesel exhaust fluid market likely to have an impact on the market during the 2017-2022 forecast period.
Steady Government Support in Europe Crucial for Diesel Exhaust Fluid Market
One of the key drivers for the global diesel exhaust fluid market is the steady government support provided to it in developed regions such as Europe. European countries, especially Central European countries such as Germany, France, Switzerland, the Netherlands, and Belgium, have consistently taken a pro-environment stance on automotive topics and are thus key contributors to the global diesel exhaust fluid market. The steady growth of the consumer automotive industry in the region has benefited the diesel exhaust fluid market, as the presence of several leading automotive players has smoothened the incorporation of solutions such as diesel exhaust fluid in the dynamics of the automotive industry.
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Europe accounted for 26.2% of the global diesel exhaust fluid market in 2017 and despite a fall in market share over the 2017-2022 forecast period, is likely to remain the dominant contributor to the global market.
The automotive industry has enjoyed rapid growth in Asia Pacific in the recent past following the rise in the disposable income of consumers in the region. The transportation sector in the region, driven by the rampant pace of urbanization in countries such as India and China, has also upped its demand for diesel-powered vehicles, leading to a corresponding rise in other related industries such as the diesel exhaust fluid market. Steady growth of the indigenous automotive industry, with diesel vehicles likely to dominate the charts in the coming years, is thus likely to be beneficial for the diesel exhaust fluid market.
Bottles are likely to remain the popular packaging type for the global diesel exhaust fluid industry in the coming years. 1 and 2.5 gallon diesel exhaust fluid bottles accounted for 41.2% of the global diesel exhaust fluid market in 2017, the segment being valued at US$4,221.8 mn. The segment is likely to remain the dominant contributor to the global diesel exhaust fluid market in the coming years and is expected to rise to US$5,891.5 mn by 2022, at a strong 6.9% CAGR therein.
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The fragmented global diesel exhaust fluid market contains several leading players such as Yara International ASA, Total SA, SINOPEC, Cummins, CF International Holdings Inc., Valvoline, Royal Dutch Shell Plc, RelaDyne LLC, and GreenChem Solutions Ltd.
According to the TMR report, the global surface disinfectant market is expected to expand at a healthy CAGR of 10.4% between 2016 and 2024. If the figure holds true, the market which stood at US$802.9 mn in 2016 will become worth US$1.77 bn by 2024.
Sodium Hypochlorite-based Products to continue to stay in Demand
By product, sodium hypochlorite-based surface disinfectants hold the leading market share in terms of volume, followed by phenol-based products. The low price factor along with relatively stable nature of sodium hypochlorite-based products account for their leading share in the market.
On the other hand, quaternary ammonium compounds and peracetic acid-based products are likely to display significant growth over the forecast period.
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In terms of application, hospitals & clinics and outpatient surgical centers are the major end-use segments of surface disinfectants. Over the forecast period, however, the segment of restaurants and food chains is expected to surpass in terms of growth rate, followed by the households segment.
Enforcement of Cleanliness and Hygiene Standards for Commercial Establishments Pushes uptake in Emerging Economies
Of the several growth drivers of the global surface disinfectant market, increasing awareness about cleanliness and hygiene generally among the population and state authorities is a prominent one. This has resulted in increased spending on cleanliness at individual level and at state level. Another important factor favoring the growth of the surface disinfectant market is regulatory requirements in place for cleanliness and hygiene that commercial establishments, especially food services need to adhere to. For example, the food and dairy industry is displaying an increased demand for these products.
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The increasing education level and rising economic prosperity in emerging economies of Asia Pacific, Latin America, and the Middle East and Africa is also working in favor of the surface disinfectant market. Individuals are increasing recognizing the importance of cleanliness at homes and at workplaces and are using disinfectants to prevent germs from breeding. The expanding construction industry in emerging economies, leading to the development of residential complexes and commercial buildings is also displaying substantial demand for surface disinfectant products.
The increasing number of restaurants and food chains in developing regions backed by economic development, and hygiene and cleanliness standards that the service industry need to comply to is acting as a growth driver to the market. The increasing disposable income in these regions that has raised affordability of a high percentage of population to visit upscale hospitals, clinics is also having a positive bearing on the growth of surface disinfectant market.
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Proving to act as a barrier to the growth of surface disinfectant market is highly reactive nature of some chemical formulations, which is limiting their use. Moreover, the relentless use of these products has resulted in several microorganisms developing resistance to the products. This factor has affected sales in mature markets of North America and Europe that have been using surface disinfectants for a long time and on a large scale.
The frontrunners in the global surface disinfectant market, according to a report by Transparency Market Research (TMR), are Procter & Gamble, Johnson & Johnson Services Inc., Henry Schein, Kimberly-Clark, 3M, and DuPont. Some other key players that largely operate in regional markets are GOJO Industries, Clorox, Cantel, and Ecolab.
In order to further their positions in the global automotive end-point authentication market, prominent players are seen leveraging strategic acquisitions. This helps them to expand their outreach and enhance their offerings. Another method players are seen banking upon is product innovation by funneling money into research and development. On account of such constant efforts by keen companies to bolster their positions, the global automotive end-point authentication market is characterized by stiff competition.
The global automotive end-point authentication market is fragmented in nature and entry barriers for new players are low due to absence of monopoly. However, setting up of manufacturing units for automotive end-point authentication require huge capital and resource, which is not feasible for most of the small and medium sized companies.
Some of the big names in the global automotive end-point authentication market are Garmin Ltd., Continental AG, Samsung Electronics Co., Fujitsu Ltd., Hitachi Ltd., Ltd., Symantec Corporation, VOXX International Corporation, Valeo S.A., Synaptics Incorporated, and Sonavation, Inc.
As per a report by Transparency Market Research, the global automotive end-point authentication market is expected to rise at a healthy 8.6% CAGR during the period between 2017 and 2025 to reach a value of US$1.115 million by 2025 from US$0.504 million in 2017.
Surging Uptake of Electric and Hybrid Vehicles to Stoke Healthy Growth in Europe Market
Depending upon the type of vehicle, the global automotive end-point authentication market can be broadly split into conventional vehicles and hybrid and electric vehicles. Of the two, the conventional vehicles account for a greater share in the market, which stood at over 50.0% in 2016. The segment is also slated to clock impressive growth in the next couple of years. The hybrid and electric vehicles segment too is predicted to expand swiftly on account of the fuel efficiency they accord.
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Geographically, the key segments of the global automotive end-point authentication market are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Europe, among them, contributed to over 30.0% share in revenue in 2016. The region is primarily powered by Germany. Going forward, the rising application of end-point authentication systems in new segment of vehicles such as electric and hybrid vehicles are predicted to bring about further growth in the market.
Strict Safety-related Regulations Drive Market
An important growth driver in the global automotive end-point authentication market is the stringent regulatory requirements in different parts of the world. “Standards such as Federal Motor Vehicle Standards, National Highway Traffic Safety Administration (NHTSA), and Euro standards, among others, are driving automobile manufacturers to develop vehicles having enhanced safety and security features, leveraging end-point authentication as a major technology,” explains the lead analyst of the TMR report.
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Another factor catalyzing growth in the automotive end-point authentication market is the fact that the technology aids in preventing thefts and damages to vehicles. The gradual uptake of hybrid and electric vehicles will also likely catalyze growth in the market.
Automotive wearables, such as smart watches and smart glasses that are synchronized with the computer system of automobiles to provide specific information, has also brought a transition in the automotive industry and taken the end-point authentication market to a whole new level.
Some of the key players in the global drive-by-wire market are Robert Bosch GmbH, SKF Group, Delphi Automotive PLC, Mobil Elektronik GmbH, Denso Corporation, Hitachi Automotive Systems, Ltd., ZF Friedrichshafen AG, Continental Group, Curtiss-Wright Corporation, and Infineon Group.
In order to stay ahead of competition in the global drive-by-wire market, automotive component manufactures are pouring money into development of advanced drive-by-wire technology systems. They are also focusing on electric powertrain development. Robert Bosch GmbH, for instance, has developed an e-axle drive system that combines transmission, electric motors, and power electronics in one unit to implement drive-by-wire technology. SKF Group has developed electromechanical actuators which are an integral part of drive-by-wire systems.
Other strategies leveraged by savvy companies in the drive-by-wire market to bolster their positions are carefully-considered acquisitions, partnerships, and divestments.
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As per a report by Transparency Market Research, the global drive-by-wire market will likely become worth US$59.5 bn vis-à-vis revenue by 2025 from US$18.22 bn in 2016 by clocking a robust 15.0% CAGR during the period between 2017 and 2025.
Powered by China and Japan, Asia Pacific to Grow at Maximum Pace
Based on applications, the global drive-by-wire market can be segmented into brake-by-wire, electronic throttle control, steer-by-wire, and shift-by-wire. Of them, electronic throttle control segment, which is the oldest form of drive-by-wire technology, is predicted to be the most lucrative segment.
Depending upon geography, the global drive-by-wire market can be divided into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Asia Pacific, at present, leads the market. The growth in the region is primarily being driven by Japan, China, Australia, South Korea, and India. Expanding at a good clip, the region is slated to grow its market share to 42.6% by 2025.
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Emergence of Autonomous Vehicles to Catalyze Market Growth
Drive-by-wire or x-by-wire technologies, which is comprised of different automotive electronic components such as sensors, electronic control unit, actuators, electric motors, etc., is primed to play a crucial part in future autonomous vehicles. “Drive-by-wire vehicles need more power than conventional vehicles. While conventional vehicles run on 12-volt system, drive-by-wire requires 48-volt system. Rising adoption from 12-volt system to 48-volt system presents an opportunity to increase adoption of drive-by-wire in global automotive market,” explains the lead analyst of the report.
Rules against Vehicular Emissions Stoke Demand in Market
Besides, growing demand for fuel-efficient vehicles and regulations aimed at curbing emissions have also resulted in higher uptake of drive-by-wire or x-by-wire technologies. This is particularly evident in the developed U.S. and other European countries, where authorities have framed rules supporting fuel efficiency and discouraging vehicular emissions. This has caused increased uptake of drive-by-wire technology in vehicles, which helps to up fuel efficiency by reducing the weight of the vehicle and brings down vehicular emissions due to gradual conversion to a 48-volt electrical system.
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Rising demand of off-road vehicles is also serving to catalyze demand for drive-by-wire systems. Drive-by-wire application is increasing in forklifts, harvesters, tractors, construction and mining equipment, industrial electric vehicles, mowers, utility vehicles, and other off-road vehicles.
One drawback of drive-by-wire system is that it removes the entire mechanical connection in a vehicle by electronic systems. Hence, in case of a software malfunction there is no backup control as the entire mechanical system is removed. This poses serious safety issues.