Unmined Reserves of Rare Earth Metals to Continue to Present New Opportunity for Growth, reports TMR

The global rare earth metals market is highly concentrated and marked by the presence of a large number of manufacturers. The top six players accounted for 68.5% of the total market in 2012. Molycorp, Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co., Lynas Corporation Limited, Great Western Mineral Group, China Rare Earth Holdings, and Indian Rare Earths Limited are the leading manufacturers in the global rare earth metals market. In order to expand their revenue base in other geographies and product segments, companies are opting for mergers and acquisitions and joint ventures to develop a strong distribution network around the world. Players are also striving to develop cost effective technology, Transparency Market Research (TMR) finds in a new study.

The growing demand for these metals and their premium price are luring new players in the market.The threat of substitutes will be medium in the coming years. The export restrictions from China has created a demand supply gap, which has led consumers to look for other alternatives. Some companies have started focusing on R&D in order to develop new substitutes. A case in point would be General Electric. The company has invested on R&D for engineering nanocomposites to reduce dependency on neodymium for the production of magnets. Thus, the threat of substitutes is expected to rise from low to medium in the coming years.

Growth in Permanent Magnet Industry to Boost Demand for Rare Earth Metals

The growth in the permanent magnet industry is expected to drive the demand for rare earth metals. The developing application markets in China and Japan such as consumer electronic, standard automotive, electric bicycle, and air conditioning have triggered the growth of the permanent magnet industry. This in turn has fueled the demand for rare earth metals. Rare earth metal catalysts are used in automobiles, glass, phosphors, and metallurgical industries, thus boosting the market.

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Rapid developments in end user industries in China have triggered the demand for rare earth metals. The growth of the market is also due to the swift economic growth in China. The phosphors application market is responsible for the high demand of rare earth metals such as terbium, europium and yttrium. Phosphors application areas which make use of these metals include florescent lamps, CRT displays, and LCD screens.

Environmental Concerns Restrict Export of Rare Earth Metals

The mining, refining, and recycling of rare earth metals have serious environmental consequences. Poisonous chemical and radioactive materials are released into the environment during the refining process. Such concerns such have caused the Chinese government to restrict the exportation of these metals.

Another challenge faced by the market is the depleting reserves of these metals. 97% of the rare earth metals are supplied by China. This is leading to an over exploitation of existing reserves as the demand for these metals rise from wind turbines and electric vehicles industry. Another factor hampering the growth of the market is the high capital investment required for the extraction of these metals.

Exploration of Untapped Reserves to Hold Opportunities of Growth

Although China supplies a major portion of rare earth metals, the reserves of these metals across other parts of the world remain unexplored. The unmined reserves will thus provide new growth opportunities in the market.

According to the report, the global market opportunity in rare earth metals is expected to rise from US$5,649.7 mn in 2015 to US$8,195.4 mn by 2018. By type, the cerium segment is expected to lead and account for 37.8% of the global market by 2018. On the basis of application, the magnets segment, followed by the metallurgy segment is expected to lead in the coming years. The magnets segment is anticipated to account for 22.9% of the global rare earth metals market. By geography, Asia Pacific not only held a major share in the past but is also expected to lead in the market in the future. Asia Pacific is expected to account for 81.3% of the total market.

Barite Extraction Activities Forecast to Rise Owing to High Demand from Nuclear Industry

The burgeoning oil, gas, and mineral exploration and drilling activities across the globe have substantially enhanced the demand for barite. Barite is an important mineral required for the completion of the drilling process. The unique specific gravity (sp gr) of barite enables characteristics such as combating high pressure scenarios and restricting the surplus flow of liquid. As a result of the rising demand from drilling industries, manufacturers of barite are focusing on providing end users with high quality drilling barite.

According to a report published by Transparency Market Research (TMR), the global barite market is expected to expand at a 5.8% CAGR from 2015 to 2023. In 2014, the market was valued at US$1.11 bn and is likely to witness stable growth by rising to a valuation of US$1.84 bn by the end of 2023. North America dominated the global barite market in 2014 with a share of over 40%. The growth of the barite market in North America can be attributed to the significant rise in the oil and gas exploration activities in the region. North America is anticipated to maintain a lead until 2023 followed closely by Asia Pacific and Europe.

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How is the application of barite expected to increase in future?

Barite has applications across various end-use industries. Specific features of barite such as insolubility in water and chemical inactivity qualify it as a potential mineral for the completion of manufacturing and drilling process. It is used as a weighting agent in the oil and gas industry due to its high specific gravity. Barite also has applications in the medical and commercial sectors owing to its use in the production of barium containing salts and compounds. It is a possible candidate for the preparation of barium meal, a diagnostic test used for the detection of anomalies of the esophagus and stomach.

To meet the mounting demand for barite from various end users, barite manufacturers are seeking opportunities for barite exploration in untapped regions. For instance, a leading drilling company in the U.K., M-I SWACO, recently started exploration and drilling activities in the Duntanlich orebody, the barite abundant region of the U.K. With the success of several drilling processes, the United Kingdom is expected to become self-sufficient in barite, which is a highly vital mineral for the oil and gas industry in the North Sea.

How are substitute minerals likely to impact the demand for barite?

Minerals such as ilmenite, hematite, celestite, iron ore, and itabirite are likely to restrain the growth of the global barite market over the next couple of years. These minerals have similar characteristics to barite and are more easily. As these minerals have a higher density in comparison to that of barite, they are being preferred as weighting agents by drilling companies. The increasing application of these minerals across several industries is likely to considerably hinder the demand for barite.

On which sector are manufacturers required to focus in order to extend the consumer base?

The ability of barite to absorb gamma rays enables its addition in concrete aggregate used in the construction of atomic reactors. Barite added concrete is also used as material to build shielding radiation and other nuclear devices, and is also used for medical purposes in which radiation therapy is involved. Thus, manufacturers of barite are likely to gain profitable opportunities from the rising application of barite in the nuclear and medical industries. In order to meet the demands arising from these industries, manufacturers are expanding their production units.

Gas Gensets Market Advanced technologies & growth opportunities in global Industry by 2024.

Gas gensets is a reciprocating internal combustion engine that is used across the globe for distributed power production. Gas gensets employ natural gas to power generators and produce electricity. Currently, the market for gensets is dominated by diesel gensets. Diesel is used to fuel the generators; however, many countries have laid several norms to regulate the high levels of harmful emissions from diesel powered gensets. This is expected to positively influence the global gas gensets market in the near future. Demand for gas gensets is driven by the widening electricity demand-supply gap, rising industrialization, low operational cost, and rising carbon emissions. Gas gensets are broadly used in various end-user segments such as pharmaceutical & health care industries, communication & transportation systems, landfill sites, and manufacturing & water treatment facilities as a back-up power source during grid failure or power outages. The gas gensets market is expected to expand at a healthy pace in the near future due to the rise in environmental concerns, increase in awareness about greenhouse gas emissions, and volatility in the oil & gas market.

The gas gensets market can be classified into two segments: application and geography. On the basis of application, the gas gensets market can be divided into standby power, primary power, and peak shaving. Many developed regions, where electricity outages are less frequent, use gas gensets for standby power. On the other hand, many developing regions where electricity demand is very high and power cuts are more common, gas gensets are used as the primary power supply, particularly in hospitals. Gas gensets also allow companies to lower expenses, as these may be deployed when the price of electricity is very high. Gensets can be configured easily to form multiple-unit power plants and the product range is suitable for a variety of business applications, regardless of location. The in-built heat-recovery process gives it competitive advantage over others, which eliminates the need for additional power required to drive the cooling system and thus increasing overall efficiency.

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The gas gensets market can also be segmented on the basis of geographical regions. North America is one of the rapidly growing regions for the gas gensets market. The market is dominated by the U.S. due to the tremendous growth in the production of natural gas and shale gas. The region has seen a steep decline in natural gas prices. Strong opportunity for growth exists in the next few years in the developing economies of Asia Pacific owing to the rapid globalization in countries such as Japan, China, and India. The poor distribution and management of power grids, leading to a rise in power outages, in developing economies is expected to continue to remain a major factor in boosting the demand for gas powered generators in Asia Pacific. Europe also accounts for a large share of the gas gensets market. Gas gensets are mainly used as standby power sources in the region. Major players operating in the gas gensets market are largely focusing on the developing economies for their immense market potential. Competition from diesel powered gensets is likely to be stiff due to their reliability and low maintenance cost, however the increasing use of eco-friendly fuels amid the growing restriction and regulations by governments, the global gas gensets market is expected to experience remarkable growth in the next eight years.

Major players operating in the gas gensets market include Caterpillar, General Electric Company, Cummins, Dresser-Rand, MTU Onsite Energy GmbH, Generac Power Systems, and Wartsila.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.

Marine Propulsion Engine Market Global Market Opportunity Assessment Study 2024.

Marine propulsion is the mechanism or system designed to generate a thrust to move marine objects such as ships or boats across the water. Many small boats operate through paddles and sails. However modern ships are propelled by carefully designed propulsion systems consisting of electric motors or engines driving the propeller. Most modern ships use reciprocating engines as their primary source of power owing to their simplicity in operation, robustness, and fuel efficiency as compared to their counterparts. Although reciprocating engines are widely used globally due to low cost and operation simplicity, the emissions remain a primary concern while using them. Furthermore, many vendors are focusing on the design and development of propulsion engines that run on alternate fuels and are compliant with the standard emission norms.

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The worldwide rise in international trade through water transportation, owing to its cost-effectiveness, has led to an increase in demand for commercial ships, which subsequently propel the demand for marine propulsion engines. In addition, due to the new trend in defense sector, many nations are focusing on sea based defense and maritime security. With the growth of global naval shipbuilding industry, the market for marine propulsion engines is estimated to expand rapidly.

The marine propulsion engine market can be segmented into various categories such as propulsion systems, power range, fuel type, application, and region. The propulsion system can be further segmented into two stroke engines, four stroke engines, diesel engines, and other engines. The power requirement of the ship depends on the operational usage, e.g. the passenger ship will require less power as compared to trade or naval ships. Furthermore, the marine propulsion engine can be categorized in terms of type of fuel used by the engine to produce power. Marine propulsion engines find application in commercial vessels, offshore support vessels, inland waterways vessels, and submarines, etc. The constant increase in demand for marine propulsion engines in such applications is projected to drive the global marine propulsion engine market over the next eight years.

Asia Pacific is anticipated to be the fastest growing market for marine propulsion engines in the next few years. This can be primarily ascribed to the increase in trade rate and rapid rise in export rate in the region, particularly in China, which has become a global hub for manufacturing operations. Thus, increasing export is driving the demand for more number of available ships for trade, thus causing a rise in the demand for more efficient marine propulsion systems. Furthermore, many developed as well as developing countries are focused on intensifying their sea defense by increasing firepower capacity. As more number of warships are being built by every nation in the world, the demand for marine propulsion engines is predicted to increase rapidly during the forecast period. Countries in regions such as South America, Africa, and the Middle East have been showing speedy economic growth since the last few years. In addition, developed economies such as the U.S. and European countries are showing steady economic growth after the economic crisis. These factors are ultimately generating a positive outlook for the overall trade dynamics. Rise in demand for marine propulsion engines in ships, boats, yacht, for transport of goods, fishing, entertainment, public safety, and warfare is expected to drive the global marine propulsion engine market over the next eight years.

Major players operating in the global marine propulsion engine market include Caterpillar, MAN Diesel & Turbo, Cummins, Rolls-Royce, Wärtsilä, Mitsubishi Heavy Industries, and Hyundai Heavy Industries.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.

Stainless Steel Round Bar Market to Rise; Development in Automotive Sector owing to Increasing Vehicle Production to Fuel Growth

A new market research report by Transparency Market Research, titled “Stainless Steel Round Bar Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023,” provides an in-depth understanding of the global stainless steel round bar market. The key insights into the market presented by this study are useful for the established and upcoming vendors looking to penetrate in the market.

An analysis on the prime trends in the market has also been encapsulated in this study. The fundamental mandates and regulations seen in the market and the ways they will impact the market development have also been elaborated. In addition, the top strategies of the prime players and their respective shares in the market have been presented.

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In the beginning of the report, the introduction of the stainless steel round bar market has been presented. This section also encapsulates the definition and application areas of stainless steel round bars. Stainless steel round bars present excellent properties including toughness, fire resistance, high corrosion resistance, tensile strength, magnetism, and fire resistance, among others. They are extensively being utilized for manufacturing numerous products such as dairy equipment, anchor bolts, industrial nozzles and valves, machine and automotive shafts, food processing equipment, sanitary fittings and faucets, reinforcing bars, and a number of other hardware products.

As per the report, the increasing development of construction, oil and gas, aerospace, and mining industries is providing impetus to the development of the market. In addition, the exponential development of the automotive sector owing to the increasing vehicle production will positively impact the development of the stainless steel round bar market. On the other hand, the huge cost of nickel is a prime factor inhibiting the development of the market.

Geographically, the report categorizes the market into Asia Pacific, North America, Europe, the Middle East and Africa (MEA), and the Rest of the World (RoW). On the basis of demand and production, the Asia Pacific stainless steel round bar market held a significant share in 2014 and is predicted to maintain its dominance all through 2023. This is owing to the increasing population and expansion in the infrastructure of Asia Pacific countries. North America and Europe respectively, trailed Asia Pacific in 2014 due to the increasing industrialization and the booming automotive industry in these two regions. On the other hand, in the MEA, lucrative opportunities in the chemical and petrochemical industries will also fuel the growth of the stainless steel round bar market in this region.

As mentioned in this report, Allegheny Technologies Incorporated, Crucible Industries LLC, Garelick Steel Company, Dongbei Special Steel Group Co. Ltd., J. H. Stainless, ThyssenKrupp Steel Europe AG, Shri Bhagavati Bright Bars Limited, Tsingshan Holding Group Co. Ltd., Walsin Lihwa Corporation, and Valbruna Stainless Inc., among others, are the leading players in this market.

Structural Health Monitoring Market: Increasing Demand for Low-Cost Infrastructure Maintenance Globally to Drive Growth

A new market research report by Transparency Market Research, titled “Structural Health Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023”, presents an accurate and updated evaluation on the structural health monitoring market. The report is compiled by conducting both secondary and primary research. The study encapsulates information on each facet related to the market for structural health monitoring systems. The key contributions of the leading players in the market have also been presented in the report. It employs primary analysis tools such as SWOT analysis and Porter’s five forces analysis to present a clear understanding of the overall market.

The first part of the report talks about the importance of structural health monitoring systems. Structural health monitoring systems present accurate and real-time information about the conditions and performance of structures. This data further helps to design and plan the maintenance activities, hence decreasing the operating expenses, lowering uncertainty, and enhancing the overall safety of these structures.

As stated in the report, the increasing demand for low-cost infrastructure maintenance has fuelled the development of the global structural health monitoring market. In addition, the growing concerns on unpredictable natural calamities including earthquakes, volcanic eruptions, etc. have compelled governments to introduce numerous regulations in favor of structural health monitoring systems. This factor will also provide impetus to the development of the structural health monitoring market.

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On the other hand, the exorbitant prices of structural health monitoring systems are posing a negative impact on the development of the overall market. In addition, huge data management issues owing to shortage of experts for addressing operational and technical issues that may arise during system integration will inhibit the growth of this market.

Structural health monitoring systems can be of two types such as continuous monitoring systems and portable testing systems. By technology, the report segments the structural health monitoring systems into wireless and wired structural health monitoring systems. Of these, the segment of wireless systems have a huge demand in comparison to the segment of wired structural health monitoring systems. This is owing the increased convenience and ease provided by wireless structural health monitoring systems.

Geographically, the report categorizes the market into Asia Pacific, Europe, North America, and Rest of the World (RoW). Europe and North America offer immense opportunities for the growth of this market due to the increasing technological developments taking place in structural health monitoring systems in these two regions. On the other hand, the Asia Pacific structural health monitoring market is also poised to hold lucrative opportunities in the market owing to expansion in the construction sector of this region.

As per the report, the prominent players in the market are Geokon Incorporated, Digitexx Data Systems Inc., COWI A/S, Advitam, Acellent Technologies Inc., CTLGroup, and Exponent Inc., among others.

Non-ferrous and Platinum Group High Performance Alloys leading Path to Revenue at 4.2% CAGR.

High performance alloys are metal alloys comprising numerous alloying elements that are designed to perform under intense conditions such as elevated temperatures and pressures. High performance alloys are used in a wide range of applications. These include aircraft (aerospace), land-based gas turbines, rocket engines, and chemical and petroleum plants. High performance alloys are ideal for such applications because of their ability to retain most of their strength even after long exposure times (above 650°C (1,200°F)). They combine high strength with good low-temperature ductility and excellent surface stability.

Key products of high performance alloys can be segmented as non-ferrous alloys, platinum group metal alloys, refractory alloys and superalloys. Non-ferrous alloys were the largest product segment, accounting for 51.0% of the total market share in 2013. This was followed by superalloys. Non-ferrous alloys and superalloys are used in various applications. Non-ferrous alloys exhibit superior mechanical properties. As a result, they are used in widespread applications across several industries such as aerospace, gas turbines and oil & gas. This is expected to drive the market for non-ferrous alloys during the forecast period. Superalloys are characterized by high temperature strength, toughness, resistance to corrosive & oxidizing environment, and superior phase stability.

Aerospace was the largest segment, accounting for 56.9% of the total high performance alloys market in 2013 followed by industrial gas turbines and oil & gas. This trend is expected to continue during the forecast period. Asia Pacific, Latin America and African airlines companies are benefitting from the strong economic growth thus experiencing significant gains in traffic. Low cost carriers are expected to experience double-digit growth in developing countries. This, in turn, would boost the high performance alloys market in the region. Globalization is a growing factor in the Aerospace & Defense (A&D) industry. Commercial markets in Asia Pacific and defense markets in the Middle East are anticipated to open new avenues for the high performance alloys market. Additionally, industrial gas turbines is estimated to be the fastest growing application segment in the high performance alloys market.

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Global demand for high performance alloys stood at 1,110.7 kilo tons in 2013 and is projected to increase significantly over the next six years. Factors such as increasing demand for industrial gas turbines in power generation and growth in automotive and aerospace industries are likely to boost the high performance alloys market. Capital-intensive manufacturing due to high infrastructure cost and complex manufacturing process is expected to hamper demand for high performance alloys. High strength, lightweight high performance alloys are anticipated to open new growth avenues for the high performance alloys market.

In terms of demand, North America was the leading region in the high performance alloys market in 2013. This was followed by Europe. Asia Pacific is estimated to be the fastest growing regional market in terms of demand. Increasing demand from the automotive industry is driving the market in Europe. Countries in Europe such as Germany and the U.K. are the major consumers of high performance alloys market in the region. Demand for high performance alloys is projected to be significant in Rest of the World (RoW) in the near future. Latin America is one of the largest markets for high performance alloys in RoW. However, rising demand from industries such as oil & gas, electronic & electrical, chemical and medical is likely to drive the high performance alloys market. The Middle East is anticipated to offer higher opportunities for high performance alloys in the oil & gas industry in the near future.

Key players in the high performance alloys market include Allegheny Technologies Inc, Aperam, Carpenter Technology Corporation, RTI International Metals Inc, and VSMPO.