Heat Exchanger Market, Shell & Tube Heat Exchangers, Plate & frame Heat Exchangers, Air Cooled Heat Exchangers

Heat Exchangers Market worth $19.9 billion by 2026

The report Heat Exchangers Market by Type (Shell & Tube, Plate & Frame, Air Cooled), Raw Material (Steel, Copper, Aluminum), Application (Chemical, Energy, HVACR, Food & Beverage, Power Generation, Pulp & Paper), and Region – Global Forecast to 2026″ The heat exchangers market size is estimated at USD 15.6 billion in 2021 and is projected to reach USD 19.9 billion by 2026, at a CAGR of 5.0% during the forecast period.

The major factors driving the heat exchangers market include growth of the chemical industry and rising demand for energy across the globe. Heat exchangers have industrial and commercial application in various industries such as chemical, energy, power, HVACR, pulp & paper, and food & beverages. Shell & tube, plate & frame, air-cooled heat exchangers are commonly available in the market and are used in various end-use industries. Heat exchangers market growth is primarily driven by rise in HVACR deployment, and other industrial activities, surging energy prices, and rapid industrial expansion in the developing economies.

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Increasing demand of shell & tube type of heat exchangers from various end-use industries

On the basis of type, the heat exchangers market is segmented into four types including, shell & tube, plate & frame, air-cooled, and others. Shell & tube segment dominates the heat exchangers market during the forecast period. Shell & tube heat exchanger are ideal for various end-use industries such as chemical, food & beverage, oil & gas, pulp & paper, and others such as metallurgical, wastewater treatment, and mining. Moreover, shell & tube type of heat exchangers offers a relatively large ratio of heat transfer area to volume and weight.

Europe dominates the heat exchanger market

Europe is the largest market for heat exchangers, owning to established manufacturing, automotive, and industrial sector. European energy efficiency regulations, and demand for sustainable energy consumption will also increase the demand for heat exchangers during the forecast period. The major end use industries of heat exchangers in the region are chemical, energy, HVACR, and others.

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The heat exchangers market comprises major players such as  ALFA LAVAL (Sweden), Kelvion Holding GmbH(Germany),  Exchanger  Industries Limited (Canada),  Mersen (France),  Danfoss (Denmark),  API Heat Transfer (US), Boyd Corporation (US), H. Güntner (UK) Limited (Germany),  Johnson Controls (Ireland), XYLEM (US), and others.

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Decorative Concrete Market, Decorative Concrete, stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy concrete, concrete dyes knockdown finish, concrete engravings, Polymer Cement Overlay, architectural concrete

Decorative Concrete Market worth $20.5 billion by 2025

The report Decorative Concrete Market by Type (Stamped Concrete, Stained Concrete, Colored Concrete, Polished Concrete, Epoxy Concrete, Concrete Overlays), Application, End-use Sector, and Region – Global Forecast to 2025″, The global decorative concrete market size is projected to grow from USD 15.4 billion in 2020 to USD 20.5 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. The market is projected to grow in accordance with the increase in the demand for residential and commercial construction across the globe. Furthermore, the decorative concrete market has witnessed a significant increase in demand, owing to the growing interest of consumers in home décor, the booming housing construction sector, rise in renovation & remodeling activities, and rapid urbanization & globalization.

In terms of value & volume, stamped concrete is estimated to lead the decorative concrete market in 2019.

Stamped concrete, by type, accounted for the largest market share in the decorative concrete market. The growth of the stamped concrete segment can be attributed to the benefits it offers, such as increased longevity and low maintenance cost. The stamped concrete is widely preferred and demanded flooring applications, and its demand is expected to accelerate during the forecast period, with the increase in the demand from the residential sectors, especially in the Asia-Pacific region.

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Floors is estimated to be the largest segment in the decorative concrete market in 2019.

Floors, by application, accounted for the greatest demand for decorative concrete  in 2019, in terms of value and volume. Furthermore, EPS is projected to be the second-fastest-growing application for decorative concrete, by 2025, in terms of value as well as volume. The high demand can be attributed to the fiber’s ability to produce versatile designs and patterns, its resiliency & durability, abrasion-resistance, and ability to withstand heavy foot traffic.

Non-residential dominated the decorative concrete market in 2019, in terms of value and volume.

Non-residential, by end-use sector, accounted for the greatest demand for decorative concrete in 2019, in terms of value and volume. The demand from this sector is supported by increased investment in new commercial construction projects. Factors such as ease of installation, durability, and appealing esthetics will fuel the demand for decorative concrete to be installed in newly built projects.

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The North American region is projected to account for the largest share in the decorative concrete market during the forecast period.

The North American region is projected to lead the decorative concrete market in terms of both value and volume from 2020 to 2025. The growth of the decorative concrete market in North America is driven by technological advancements in the building & construction industries. In the US, single-family homes are growing, especially in Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina. The usage of durable and low-maintenance floorings in residential applications has been a key factor driving the decorative concrete’s market growth.

CEMEX, S.A.B. de C.V. (Mexico), DuPont (US), HeidelbergCement AG (Germany), BASF SE (Germany), 3M Company (US), Sika AG (Switzerland), RPM International Inc. (US), The Sherwin Williams Company (US), PPG Industries, Inc. (US), amongst others, are the key players operating in the decorative concrete market. Acquisitions, expansions & investments, agreements & partnerships, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the decorative concrete market.

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Electrocoating Market, E-Coat Market, Electrocoating (E-Coat)

Electrocoating Market worth $5.0 billion by 2026

The report Electrocoating Market by Type (Cathodic Epoxy, Cathodic Acrylic, Anodic), Application (Passenger Cars, Commercial Vehicles, Automotive Parts & Accessories, Heavy-Duty Equipment, Appliances) and Region – Global Forecast to 2026″, size is projected to grow from USD 3.9 billion in 2021 to USD 5.0 billion by 2026, at a CAGR of 4.7% during the forecast period. The electrocoating market is growing due to the rise in the demand for cost-effective,  advanced technology, and stringent government regulations globally.

Cathodic epoxy accounts for a significant market share in terms of value and volume.

Cathodic epoxy electrocoating provides excellent corrosion resistance. It is widely used in the automotive industry, as it provides superior salt spray, humidity, and cyclic corrosion resistance. However, the cathodic epoxy technology generally requires a topcoat to be protected from sunlight. It can be formulated to provide protection over sharp edges and welds, without pulling back or exposing the metal underneath. As these coatings exhibit excellent throw power, it makes them a great choice for complex ware packages or parts with cavities or hidden areas that need a coating. Cathodic epoxy electrocoating delivers excellent corrosion resistance and provides one of the best primers available. The scope for improvement is not to increase the performance, but to reduce the cost. Two important advances that can lead to lower applied cost for electrocoating are low cure temperature for energy savings and improved throw power1/shutdown for reduced film build control, coverage, and reduced material use. Hence, increasing demand from applications such as passenger cars, commercial vehicles, appliances, etc will lead to growth of the electrocoating market during the forecast period.

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Heavy-duty equipment to be the second-largest application in the global electrocoating market in terms of value and volume

Heavy-duty equipment is used in the construction industry to move large quantities of soil or to dig foundations and landscape areas. It is also generally referred to as earthmoving equipment. This includes agricultural equipment such as tractor, JCB, military, and aerospace applications. Materials with ultra-low cure temperatures have made it possible to electrocoating heavy gauge material that is difficult to handle by conventional method due to higher-temperature cure requirements. This capability can enhance corrosion resistance while reducing the applied cost on agricultural products and construction equipment. Electrocoating has military applications such as body panels, shipping containers, cab springs, cross members tailgate lifts, doors, vehicles, frame rails, and wheels. It is applied on more than 50% of heavy machinery vehicles. Therefore, the increase in urbanization and industrialization will augment the market growth.

Asia Pacific to be the second-fastest-growing region in the electrocoating market during the forecast period

The Asia Pacific region is segmented into China, Japan, India, South Korea, Indonesia, and other Asia Pacific countries. The growth of the electrocoating market is mainly attributed to the high economic growth rate followed by heavy investment across various industries such as automotive, consumer goods & appliances, building & construction, and furniture. Various companies such as PPG Industries (US) and BASF SE (Germany) are setting up new plants or expanding their existing electrocoating and resin production units in the Asia Pacific region. The major advantage of shifting production base to the Asian region is the availability of cheap labor and low cost of production. Over half of the world’s population lives in Asia Pacific countries and this region is increasingly becoming an important global trade and commerce center. With a population of around 3.6 billion people in about 48 countries, the region accounts for almost one-third of the global GDP measured in terms of purchasing power parity (PPP).

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The advancements and increase in automobiles production, along with increase in purchasing power of the public, are the major reasons for the increased consumption of electrocoating in the region.

PPG Industries, Inc. (US), Axalta Coating Systems, Ltd. (US), BASF SE (Germany), The Sherwin Willaims Company (US), Nippon Paint Holdings Co., Ltd. (Japan), Tatung Fine Chemicals Co., Ltd (Taiwan), KCC Corporation (South Korea), Kansai Paint Co., Ltd (Japan), B.L.Downey Company LLC (US), Hawking Electrotechnology Ltd (England), Therma-Tronx-X, Inc. (US), and Parker Trutec, Inc (US).

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Flow Meters Market

Flow Meters Market worth $10.3 billion by 2026

The report Flow Meters Market by Type [Differential Pressure, Positive Displacement, Magnetic (In-line, Insertion, Low Flow), Ultrasonic (Spool piece, Clamp-on, Insertion), Coriolis, Turbine, Vortex)], End-use Industry, and Region – Global Forecast to 2026″, The flow meters market is projected to reach USD 10.3 billion by 2026, at a CAGR of 6.2% from USD 7.7 billion in 2021. Flow meter is an instrument used to measure linear, nonlinear, volumetric or mass flow rate of a liquid or a gas. Increasing use of flow meters in the oil & gas and water & wastewater industries has led to demand of flow meters. Flow meters are used for the quantification of liquid and gas flowing through a pipe or system. Magnetic flow meter is the largest type segment of the flow meters market. Asia Pacific was the largest market for flow meters in 2020, in terms of value. Factors such as increasing demand from oil & gas and water & wastewater industries will drive the flow meters market.

Ultrasonic flow meter is projected to be the fastest-growing type for flow meters market between 2021 and 2026

Magnetic flow meters are also called mag meters. These flow meters follow the principle of electromagnetic induction to determine the flow of liquid in a pipe. In this type of flow meter, the magnetic field is created and directed into the liquid flowing through the pipe. Thus, the liquid flowing through the magnetic field leads to a voltage signal that is sensed by the electrodes placed at the tube walls. With the increase in speed of the flowing liquid, the voltage also increases. Thus, the speed of the flowing liquid is directly proportional to the voltage generated.

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“Oil & gas is projected to be the fastest-growing end-use industry in flow meter market between 2021 and 2026.”

The oil & gas industry involves the production, treatment, distribution, and processing of a wide variety of fluids, gases, and contaminants that need an accurate measurement. Therefore, for these purposes, flow meters are widely used. The different applications in which flow meters are used include custody transfer measurement, mass flow measurement of crude oil, fluid loss & leak detection, and process gas flow and hydraulic fluid flow sensing in a blow out prevention. The oil & gas industry uses various types of flow meters. These include positive displacement flow meters to measure fuel and crude oils, coriolis flow meters to measure the amount of water in crude, mass flow meters to measure process fuels and liquid additives, and electromagnetic flow meters for liquid injection. Ultrasonic flow meters are used for non-intrusive measurement throughout the production systems.

“Asia Pacific is projected to be the fastest-growing region for the flow meters market during the forecast period”

Asia-Pacific has dominated the global flow meters market. Asia-Pacific has dominated the global flow meters market due to the growing investments in developing countries and manufacturing capacity additions across end-use industries, especially water treatment and chemical processing. Investment in the water & wastewater, energy and power, refining, chemicals, pulp & paper, and industrial infrastructure activities is increasing in developing economies such as China and India. This drives demand for measuring instruments, which has contributed significantly to growth of the flow meters market in Asia Pacific. China is the key market for flow meters in the Asia Pacific due to its increasing industrialization and low-cost manufacturing technology. Most key players operating in the flow meters market have their production capacities in Asia Pacific since the region’s production cost is lower than that in other regions. Some major players in Asia Pacific are Yokogawa Electric Corporation and Azbil Corporation. The demand for flow meters is growing, especially in Asia-Pacific and the Middle East & Africa. Thus, the markets in these regions are expected to register higher growth in comparison to other regions.

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The key market players profiled in the report include Honeywell International Inc. (US), Siemens Group (Germany), Emerson Electric Co. (US), ABB Ltd. (Switzerland), Yokogawa Electric Corporation (Japan), Azbil Corporation (Japan), Badger Meter, Inc. (US), Endress+Hauser Management AG (Switzerland), Krohne Messtechnik GmbH (Germany), and Schneider Electric (France).

Tow Prepreg Market

Tow Prepreg Market worth $440 million by 2026

The report Tow Prepreg Market by Resin Type (Epoxy, Phenolic), Fiber Type (Carbon, Glass), Application (Pressure Vessels, Scuba Tanks, Oxygen Cylinders), End-Use Industry, and Region (North America, Europe, APAC, MEA, & Latin America) – Global Forecast to 2026″, is expected to grow from USD 250 million in 2021 to USD 440 million by 2026, at a CAGR of 12.0% during the forecast period.

Owing to superior properties offered by tow prepregs such as excellent mechanical properties and advantages over wet winding process,  the tow prepreg market is expected to witness significant growth during the forecast period. In addition to this, the growing demand in automotive and aerospace industries is also propelling the growth of the market.

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However, the outbreak of COVID-19 has created ripples in various end-use industries, leading to reduced demand for tow prepreg. Due to the lockdown scenario in Europe and North America, the demand for tow prepreg from end-use industries such as aerospace & defense, automotive & transportation, oil & gas, and others have declined sharply in the first quarter of 2020.

Pressure vessels application to have the largest market share in the tow prepreg market during the forecast period.

Tow prepregs are widely used in the manufacturing of type-3 and type-4 cylinders. These cylinders offer numerous advantages over other cylinders regarding weight reduction, longer lifespan, and excellent tensile strength. A pressure vessel is primarily used in the oil & gas industry. However, since the past few years, aerospace & defense and automotive & transportation are also shifting towards the use of composite pressure vessels, which in turn is augmenting the demand for tow prepreg in the pressure vessels application.

The tow prepreg pressure vessels consist of a thin, non-structural linear wrapped in fiber composite designed to hold fluid under pressure. In the oil & gas industry, pressure vessels are used in both upstream and downstream operations. The growing use of these vessels in the oil & gas and other chemical industries is driving the market.

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The oil & gas end-use industry segment is expected to account for the largest share in the tow prepreg market during the forecast period, in terms of value.

Oil & gas is one of the world’s largest industries. Globally, in terms of value, oil & gas exports were higher than 30% of the total global exports. FRP tanks are widely used in the oil & gas industry for storage, and nowadays, tank manufacturers are increasingly manufacturing these tanks using tow prepregs through the filament winding process. These storage tanks have high strength and long life to avoid the need for early replacement. Using tow prepreg-based tanks instead of steel tanks helps increase the durability of the tank and reduces the cost of replacement. Therefore, the increasing need for pressure vessels and tanks in this industry will drive the market growth of tow prepreg market.

Europe region to account for the largest market share in the tow prepreg market during the forecast period.

Europe was the largest tow prepreg market, in terms of value, in 2020. The increasing use of tow prepreg in applications such as pressure vessels, scuba tanks, and other applications is expected to provide new growth opportunities to the market. Furthermore, high economic growth, growth in manufacturing industries, and presence of major tow prepreg manufacturers are some of the key factors driving the tow prepreg market in Europe.

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The key players in the market include TCR Composites (US), SGL Carbon SE (Germany), ENEOS Holdings, Inc (Japan), Teijin Limited (Japan), Mitsubishi Chemical Carbon Fiber and Composites, Inc (US), Hexcel Corporation (US), Porcher Industries (France), Red Composites (England), Vitech Composites (France), Arisawa Manufacturing Co., Ltd. (Japan), Toray Industries, Inc (Japan), and 3M (US). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the tow prepreg market.

Tow Prepreg Market
Tow Prepreg Market  – Global Forecast to 2026