Ammunition market size was estimated at USD 11.74 billion in 2015 and is expected to grow significantly by 2024
The global ammunition market is expected to reach USD 16.07 billion by 2024, according to a new report by Grand View Research, Inc. Increasing terrorist activities, coupled with arms race amongst emerging economies in the recent past is projected to fuel industry growth over the next eight years. Civil and defense are the two key end-uses in the market. The civil end-use is further segmented into law enforcement, self-defense, and sports & hunting
Advancements in Russian and U.S. regional markets coupled with increasing participation in shooting, hunting and sports across the world is influencing the growth of the global ammunition market. The countries such as China, South Korea, India, France, Saudi Arabia, Germany, Turkey, Israel and South Africa are expected to boost the demand further in the ammunition industry. However, high costs in research & development and international regulations are expected to hinder the market growth over the forecast period.
Additionally, the demilitarization initiatives adopted across Europe and North America are expected to reduce the demand for ammunition form the military and law enforcement sectors. However, the impacts of these factors are expected to reduce over the period of forecast.
Further key findings from the report suggest:
- The global ammunition market size was estimated at USD 11.74 billion in 2015 and is expected to grow significantly by 2024 in light of technological advancements and development for the smart weapons to maintain law and order in developed economies.
- Bullet segment is expected to witness considerable gains at a CAGR of 3.8% from 2016 to 2024. This growth is attributed to the measures taken by different governments to introduce latest technologies for the overall advancement of the industry.
- AAI Corporation has developed an advanced light machine gun which uses 5.56mm ammo. This is also referred as telescoped ammunition and does not contain conventional brass cartridge, which reduces the weight approximately by 40% as compared to the traditional ammunition.
- Asia Pacific accounted for 32.9% of the overall revenue share in 2015 and is projected to witness high growth. Recent increase in terrorist activities along with the need to maintain internal peace and order, counties such as India, China and Pakistan are continuously enhancing their defense mechanism, which in turn is boosting the market.
- Ammunition industry is dominated by key participants including include General Dynamics Corporation, BAE Systems, Remington Arms Company, Inc., Ruag Ammotec, Poongsan Corporation, Federal Premium Ammunition and Maxam. Companies are collaborating in order to remain profitable and retain their position in the global market.
Demand for geomembranes market is expected to witness growth on account of its increasing usage for water management, mining, and civil construction
The global geomembrane market is expected to reach USD 2.43 billion by 2025, according to a new report by Grand View Research, Inc. Increasing spending towards waste and water management programs in Germany, Russia, China, and India is anticipated to drive the market. In addition, positive outlook towards mining industry in Middle East countries, South Africa, Peru, and Chile is expected to play a crucial role in increasing the application of geomembrane as a barrier medium to control industrial waste.
HPDE was the most extensively used raw material accounting for 32.6% of the global geomembrane market volume in 2015. Low cost, ease of installation, good welding strength, excellent low-temperature performance and good thermal stability during exposure makes HDPE as a favorable choice of raw material for the production geomembrane.
Further key findings from the report suggest:
- The global demand for geomembranes was 809.9 million square meters in 2015 and is expected to witness growth on account of its increasing usage for water management, mining, and civil construction
- EPDM is increasingly used as a raw material for the production of geomembrane on account of providing good flexibility, excellent mechanical strength, and effective UV resistance, and thus, is expected to witness the fastest growth at a CAGR of 6% over the forecast period. Geomembrane manufacturers mix EPDM with carbon black, curing agents and processing chemicals to produce larger sheet sizes which induce properties including excellent elastic elongation and superior weathering resistance.
- The global market for extruded geomembranes was 486.5 million square meters in 2015, making it the most widely utilized technology for manufacturing. Extrusion results in the formation of thin sheets which allows for flexibility of the geomembranes resulting in increasing its durability under stress.
- The robust presence of mining base in Australia and China in light of the abundance of minerals such as steel and diamond, respectively, coupled with improvement in mining sectors of African countries including South Africa and Nigeria in light of regulatory support is expected to result in significant demand for geomembranes. Mining is expected to grow at a CAGR of 4.9%, in terms of volume over the forecast period.
- Asia Pacific was the largest consumer of geomembranes in 2015 accounting for 34.3% of the global volume share, and the trend is expected to continue over the forecast period. Rising awareness towards engineering polymers in the construction industry of emerging economies including China and India in light of new capacity additions by companies including BASF and Dow at the domestic level is expected to new markets over the next seven years.
- Key operating companies in the market include GSE Holdings, AGRU, CETCO, NAUE, and Solmax. Companies are focusing on expanding their market share via numerous strategies including mergers & acquisition and capacity expansions. For instance, in May 2014, GSE Environmental, Inc. opened a new manufacturing facility in Suzhou, China. In February 2014, GSE Holding signed a global distribution agreement with Tenax Group. This agreement will enable GSE Holding to distribute the products of Tenax Group, which include reinforced geosynthetics on a global level.
The global stainless steel market is expected to reach USD 127.19 billion by 2024, according to a new report by Grand View Research, Inc. Stainless steel finds wide application in various end-use industries including building & construction, transportation, industrial machinery, household appliances, metal goods, and electronics owing to inherent characteristics such as durability, high tensile strength, and resistance.
Rapid urbanization and improving socio-economic standards coupled with expanding middle-class population is expected to be the key factor driving market demand, particularly in the infrastructure sector. Increasing investment in construction and infrastructure led to an 8% increase in demand for long products in the past few years.
Stainless steel is extensively used in petrochemical as well as oil exploration & production industries. Rising oil exploration and production activities across the globe to meet growing energy requirements is expected to further drive stainless steel demand over the forecast period. Stainless steel forms the basis of production of pressure valves, heat exchangers, cracking furnaces, tanks, chemical tankers, and process pipes in the petrochemical industry. On the other hand, it is used in sub-sea systems, offshore platforms and LNG tankers in case of exploration equipment.
U.S.stainless steel market volume, by application, 2013 – 2024 (Kilo Tons)
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Further key findings from the report suggest:
- Automotive application of stainless steel is expected to witness the fastest growth at a CAGR of over 4% from 2016 to 2024. CAFÉ regulations in the U.S. emphasize on thereduction of CO2 emissions from vehicles by reducing their weight. Stainless steel is a major component in vehicle manufacturing owing to light weight, corrosion resistance, and aesthetic appeal. It used in car doors, bus bodies, exhaust systems, motor shafts, silencer wool, and timber truck & trailer.
- North America market was estimated over 3,000kilo tons in 2015. U.S. being a major market in the region accounts for a major chunk of the demand.Construction industry growth in U.S is expected to positively impact the stainless steel market. Stainless steel caters to demand from various application segments such as building &construction, heavy industries, and consumer goods. Increased application of stainless steel in heavy industries and consumer goods is expected to impact positively on market growth of stainless steel in this region.
- POSCO, Acerinox, Baosteel, Aperam, and Outokumpu are leading market players on the global level as of 2015. Other market players include Bristol metals, Jindal Steel, Nippon Steel & Sumitomo Metal, RTI Industries, Sandmeyer Steel, Sandvik Materials, Schmolz+Bickenbach AG, ThyssenKrupp, and Viraj.
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Global carbon fiber demand in 2013 was 46,500 tons and was valued at over USD 1.7 billion. The market is expected to grow at an estimated CAGR of over 10% over the forecast period. Increasing demand for lightweight and high-strength components from various end-use industries is expected to drive the global carbon fiber market over the next seven years.
The market has observed a steady growth since global economic recession in 2009. Carbon fiber demand grew up from 26,500 tons in 2009 to 46,500 tons in 2013 growing at an average growth rate of around 15% over the forecast period. This demand corresponded to USD 1.7 billion in 2013.
This huge growth has led to a dramatic capacity expansion by leading manufacturers to cope up with increasing demand. However, lower economic growth rates have adversely affected carbon fiber demand. Lower demand growth than expected has created a huge surplus production capacity. In 2013, excess capacity of over 40% was reported for carbon fiber based on polyacrylonitrile.
Growing concern for automotive and fuel efficiency along with stringent regulations regarding vehicular pollution has increased the need for lightweight vehicles. Carbon fiber and its composites are primarily used to reduce vehicular curb weight without compromising with the strength.
Increasing carbon fiber composites demand from aerospace industry is also expected to fuel market growth over the forecast period. In aerospace industry, material weight and strength plays a crucial role. Need for lightweight aircrafts from defense as well as commercial sectors to increase fuel efficiency and overall performance.
High raw material conversion cost leads to higher prices for carbon fibers. In spite of extraordinary benefits offered by carbon fiber, its high cost has restrained its penetration into various application segments. High prices have so far limited their use to high-performance applications such as jet fighters, spacecraft, race cars, racing yachts, exotic sports cars, and notably, the latest Airbus and Boeing airliners.
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Automotive segment is also becoming increasingly important with demand increasing rapidly over the forecast period. This segment accounted for over 10% of the global demand in 2013. Growing demand for lightweight high-performance materials from automotive industry to improve fuel efficiency in the U.S. and Europe is expected to remain a key driving factor for this segment over the forecast period.
The market is segmented on the basis of raw material as polyacrylonitrile (PAN)-based and pitch-based. PAN-based fibers dominated the market on account of their superior properties. PAN-based material accounted for over 85% of total volume in 2013.
North America dominated the global carbon fiber market and it is expected to retain its dominance over the forecast period. Stringent environmental regulations to reduce reliance on fuel by improving efficiency have prompted demand for high-performance lightweight materials in the region. North America is followed by Europe. Europe is expected to be the fastest growing market over the forecast period.
Carbon fiber industry is witnessing overcapacity as a result of dramatic capacity expansion in the recent years. The global carbon fiber market is concentrated in the hands of ten leading fiber manufacturers, who controlled over 91% of the production capacity in 2013.
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Global chemical protective clothing market is expected to be valued around USD 1.5 billion by 2022. The industry is expected to grow at a CAGR of around 6% from 2015-2022. Stringent workplace regulations by government of developed regions including North America and Europe is increasing use of protective clothing at chemical manufacturing units.
Such factor is expected to drive global industry demand over the forecast period. Industry participants, mainly chemical manufacturers, are increasing their focus towards workers’ safety. Companies are arranging training programs to guide workers for accurately using protective clothing.
Growing chemical demand in emerging economies such as India, China, South Korea and Taiwan are expected to fuel global production levels. Existing industry participants are expanding their business by setting up new manufacturing facilities to cope up with the demand while huge number of entrants is estimated to enter over the forecast period.
Opening up of facilities and entrance of market players in the global chemical industry are expected to increase overall protecting clothing demand in the future. Chemical protective clothing manufacturing requires special material which is capable of providing safety at extreme temperature and pressure conditions.
On account of their ability of providing safety and security coupled with comfort ability, industrial protective clothing is expensive in nature which is expected to restrain overall industry growth in the future.
Multi-functionality is a new term evolving in the global market and is expected to gain high importance over the forecast period. Industry participants are practising multi-functionality by entering into new product lines which offer combined chainsaw, antistatic, high-visibility, and chemical clothing features.
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On the basis of product, market is segmented into UHMW polyethylene, cotton fiber, aramid & blends, polyolefin & blends, PBI, laminated polyesters, polyamide, and others. Europe dominated the global market on account of strict workplace regulations by the European Commission.
Europe was followed by North America owing to stringent regulatory scenario coupled with increasing company’s focus towards worker safety. Asia Pacific is expected to witness highest growth owing to chemical industry developments in China, India, South Korea, and Taiwan.
Central & South America and Middle East & Africa are expected to experience high growth owing to increasing government initiatives for worker’s safety and security in factories.
Key companies are Dupont, Teijin Limited, Honeywell International Inc., Ansell Limited, International Enviroguard Inc., W. L. Gore & Associates Inc., Lakeland Industries, Inc., Kimberly Clark Corp, Delta Plus Group, 3M Co., Sioen Industries, Kappler Inc., MSA, and Respirex.
Companies are expected to conduct research & development initiatives to develop multifunctional clothing. In addition, nanotechnology is another major area where companies are expected to focus and come up with new product lines to provide high performance, excellent comfort, and cost-effective features.
Existing players are expected to expand their business and set up new manufacturing facilities in developing regions mainly Asia Pacific. Global industry is expected to experience entry of significant number of players as chemical is a booming sector and demand for worker’s safety will enhance with the increase in number of manufacturing facilities.
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The global composites market is expected to reach USD 130.84 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for composites in various applications including transportation, aerospace & defense, electrical & electronics, wind energy, construction & infrastructure, pipes & tanks, and marine is expected to drive market growth over the forecast period. The development of these end-user application segments is projected to fuel the industry expansion further.
Electrical & electronics accounted for 16.4% of the global volume market share in 2015. These materials are being increasingly used in electrical & electronics owing to their high arc resistance properties and dielectric strength. Growing demand for electronic gadgets, particularly wearable electronics, is expected to augment growth.
Transportation was the largest application of composites and is projected to witness significant gains at a CAGR of 7.5% from 2016 to 2024. The increase in road networks, especially in Asia Pacific, is expected to result in stimulating the growth of the market over the forecast period.
U.S. composites market revenue by application, 2013-2024, (USD Billion)
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Further key findings from the report suggest:
- The glass fiber market was estimated at USD 41.88 billion in 2015 and is projected to dominate the global composites market over the forecast period. Owing to its weather-resistant, surface texture varieties and lightweight properties, the global market for GFRP is projected to account for the largest share. Key market players are investing in the production of glass fibers especially in emerging countries such as India, Brazil and China owing to the growing demand from various application industries such as automotive, aerospace & defense, wind energy, and transportation.
- North America is expected to witness a significant growth at a CAGR of 6.8% from 2016 to 2024 in terms of value. The automotive industry in this region has witnessed a significant growth in the recent years in terms of profitability and growth which has attributed to increasing the production of the auto sector. Furthermore, growing production of light commercial vehicles is expected to propel the growth of composites market over the forecast period.
- Carbon fiber composites segment is supposed to create an avenue in the automotive industry owing to the high-value application and technological advancements. The segment accounted for 34.3% of the global market size in 2015. The major composites manufacturers are emphasizing on the expansion of production capacities and R&D activities to reduce the cost of CFRP.
- Key industry players include Owens Corning, Toray Industries Inc., TenCate NV, SGL Carbon, Cytec Industries, Compagnie De Saint-Gobain, and Jushi Group Co. Ltd. These companies are focused on R&D activities to launch innovative products to strengthen their composites product portfolio and enhance their market presence.
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