Friday, 29 September 2017

Biodegradable Mulch Film Market - Global Industry Insights, Trends, and Forecast 2025

Biodegradable mulch film is used to increase soil fertility, retain moisture, reduce weed growth, and regulate soil temperature. It is made out of plant starches and sugars or polyester fibers. Biodegradable mulch film helps reduce the amount of herbicides used in the farms as well as lessen the number of workers engaged in agriculture throughout the growing season. At the end of the season, the biodegradable mulch film gets degraded, and carbon dioxide and water are released into the atmosphere with no more harmful contents. No labors are required for the removal of decomposed waste as its get evaporated, thereby making it cost efficient as well.
One of the major drivers for biodegradable mulch film market is the significant demand from farming industry. Tablets and capsules are widely sold in blister packaging. The added advantages are product safety assurance and multiple product packaging.
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Biodegradable Mulch Film Market Taxonomy
The global biodegradable mulch film market is segmented as follows,
On the basis of Biodegradable Plastics;
    • Thermoplastic Starch (TPS)
    • Aliphatic-Aromatic Copolyesters (AAC)
    • Controlled Degradation Masterbatches
On the basis of Composition;
    • Starch
    • Starch Blended With Polylactic Acid (PLA)
    • Starch Blended With Polyhydroxyalkanoate (PHA)
On the basis of Application;
    • Onion
    • Strawberry Crops
    • Flowers & Plants
    • Tomato
    • Others
The starch composition segment is expected to have the largest market share in terms of revenue over the forecast period owing to its wide availability, applications and low cost. Among the product type, thermoplastic starch is projected to have high CAGR attributed to its renewability, low cost and availability of crops.
Biodegradable Mulch Film Market Outlook
    Asia Pacific is the largest and estimated to be the fastest growing market in the forecast period due to burgeoning growth in the farming industry, which has been driven by the large population in India and China. The use of biodegradable mulch films is increasing due to strong increase in demand for eco-friendly products
    Europe is estimated to be the second largest market for biodegradable mulch film. The projected growth in Europe is driven by the rising use of the product for enhancing the yield, high R&D investments, strong government support, and rising health consciousness among public
    In North America, the market is mainly influenced by the rising food safety concerns among the growing population along with the need for high crop yield
    In Latin America, Argentina is the leading country for onion production. Onions account for around 39% of all vegetable export from Argentina. This has translated into biodegradable mulch film market growth
Various biodegradable mulch film manufacturing companies mainly focusing on product development and are implementing new innovations to achieve better market position in the global biodegradable mulch film market. In 2017, Walki, one of the leading producer of protective packaging materials, developed a new soil mulching solution based on biodegradable fiber, used for weed control and to improve soil conditions.
Some of the major players in the biodegradable mulch film market include BASF SE (Germany), BioBag International AS (Norway), Kingfa Sci & Tech Co Ltd (China), AEP Industries Inc. (U.S.), RKW SE (Germany), British Polythene Industries PLC (U.K.), Armando Alvarez (Spain), Al-Pack Enterprises Ltd. (Canada), Novamont S.Pa. (Italy), and AB Rani Plast OY (Finland), among others.
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In-mold Labeling Market - Global Industry Insights, Trends, Outlook, and Forecast 2025

In-mold labeling is a process used for labeling or decorating an object while it is being formed in the mold. Merging the decoration process and molding process cuts total production cost but increases manufacturing time. The in-mold labeling (IML) technology permits design flexibility and production gains over conventional post-molding labeling and decorating technologies. IML enables the use of several colors, special effects, and textures in a single operation. IMLs are long lasting and visually appealing. As in-mold labeling and decorating are completed using plastic injection molded process, no secondary procedures are needed, thus excluding post-molding labeling, decorating labor, equipment costs, and time. As packaging and labeling are prepared using the same material, the package is fully biodegradable. Due to lightweight and ability to be stacked tightly, it results in decreased delivery discharges, less wasted space, and a much smaller transportation footprint. IMLs also result in lesser break waste and is safer than glass and metals.
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In-mold labels minimize manual operations such as hand finishing, polishing, finishing, and changing of stack mold after every operation. In-mold labeling is not an instant-access technology. The production of IMLs needs substantial investment. The market has the most complex structure and value chain configuration of any packaging decoration method, involves raw material suppliers, printers/converters, mold-makers, molders, suppliers of robotics, as well as knowledgeable end users, with the resultant high barriers to entry at all levels.
In-mold Label Market Taxonomy
On the basis of production process, the in-mold label market is classified into:
    Injection molding
    Extrusion-blow molding
    Thermoforming
On the basis of material, the in-mold label market is classified into:
    Polypropylene (PP)
    Polyethylene (PE)
    ABS Resins
    Polyvinyl Chloride (PVC)
    Others
On the basis of printing technology, the in-mold label market is classified into:
    Flexographic Printing
    Offset Printing
    Gravure Printing
    Digital Printing
    Others
On the basis of ink used, the in-mold label market is classified into:
    UV curable inks
    Water soluble inks
    Thermal-cure inks
    Others
On the basis of end-use industry, the in-mold label market is classified into:
    Personal care
    Automotive
    Food & Beverage
    Medical
    Chemical storage
    Others
Polypropylene (PP) is the largest used material due to its excellent moisture-resistant properties. Majority in-molds deploy injection molding as it helps in providing a three-dimensional effect to the labels on various products such as food & beverages, cosmetics, and automotive parts. The food & beverage industry represents the biggest market for in-mold labeling. This is due to the growing demand for packaged foods in various emerging countries.
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Market Outlook
    IML is gaining immense traction in emerging nations of Asia Pacific due to the increasing demand for efficient, innovative, and premium labels. This is attributed to the increasing consumer awareness about the trends related to packaged food and rising consumption of containers and bottled packaging. The region has amplified the growth of the IML market due to its growing customer base and increasing demand for packaged and branded products in emerging markets such as China and India. The advent of e-retail as well as the increasing cross-border trading have helped leading brand-owners to promote sales of their international brands in the fastest-growing economies of Asia Pacific.
    The North American and European markets create substantial opportunities to the in-mold labeling market due to the presence of a large number of market players and the changing government policies pertaining to sustainable labels, which have led to technological advancements
    Africa offers the in-mold labeling market a major development opportunity. This is due to the presence of under-developed economies, which are on the edge of growth, in this region. The Middle East market is driven by the need for product identification and classification for their endorsement drives in the food & beverage sector
    Growth opportunity for IML market in South America is significant owing to the growing global consumer economy. This has been achieved due to the increased exports and establishment of various local regional manufacturing and packaging operations in the emerging countries such as Brazil and Argentina. The presence of major packaged food industries such as Nestle and Heinz drives the demand for in-mold market for better and efficient packaging.
As the use of three-dimensional (3D) printing is becoming popular in IML printing, in-mold labels can be created in the shape of the product or part they’ll cover while delivering a 3-D effect. That means, the elaborate designs such as camouflage patterns can easily be applied to durable goods with no buckling, stretching, or wrinkling. Some of the major players include Avery Dennison, CCL Industries, Constantia Flexibles, Coveris, EVCO Plastics, and Inland labels.
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Vacuum Packaging Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

Vacuum packaging is a technology in which air is removed in order to block the growth of oxygen-breathing microbes, which spoil the product. The purpose of vacuum packaging is to eliminate oxygen from the package. Removal of inner oxygen results in a longer shelf life. It is essential that the accurate incorporation of the product, process, package, and distribution exists in the supply chain to avoid recontamination. The global vacuum packaging market is gaining momentum primarily due to the increasing demand for sanitary packaging in various sectors. A prominent disadvantage of vacuum packaging includes the loss of preservation once the package is opened.
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Major drivers for the vacuum packaging market include the demand for hygienic packaging, manufacturers’ demand of longer shelf-life, a shift toward easy-to-handle & convenient packaging, and growth of end-use industries. Food packaging market plays a critical role in driving the growth of vacuum packaging market. Ease of handling, portability, and flexibility have increased the popularity of packaged food. This technique ensures shelf life extension with high sterile environment, which prohibits food spoilage.
Vacuum Packaging Market Taxonomy
On the basis of Packaging Material, the market is segmented into:
    • Polyethylene
    • Polyamide
    • Ethylene Vinyl Alcohol
    • Others
On the basis of Machinery used, the market is segmented into:
    • Thermoformers
    • External Vacuum Sealers
    • Tray Sealing Machines
    • Others
 On the basis of packaging type, the market is segmented into:
    • Flexible Packaging
    • Semi-rigid Packaging
    • Rigid Packaging
On the basis of end use, the market is segmented into:
    • Food
    • Pharmaceuticals
    • Industrial Goods
    • Others
Polyethylene is the most used material for vacuum packaging due to its low production & processing cost that has encouraged producers to prefer polyethylene over other packaging materials. Polyamide is another highly demanded packaging material due to its properties such as transparency, elasticity, and high thermoforming & high shrinkage characteristics. Increasing requirement for transparent food covering, due to its assurance on food quality by visual inspection, is expected to drive the polyamide demand over the forecast period. Thermoforming machines can be used for vacuum packaging in large production facilities. It is possible to customize thermoform plastics on the basis of size, color, clarity, and shape. This enables products to fit perfectly in order to create a consistent appearance according to the requirement.
Market Outlook
    Asia Pacific is a major player in the global vacuum packaging market. The market growth is driven by factors such as high demand for packaged food, elevated healthcare expenditure, and rapid urbanization & industrialization in China and India. The augmented use of vacuum packaging in various end-use industries such as pharmaceuticals is projected to propel the growth of the vacuum packaging market
    Europe accounts for a large market share due to the presence of major packaged food and pharmaceutical manufacturers in this region on account of large packaged and processed food demand. Growing healthcare sector is also expected to propel the pharmaceutical packaging demand in the region. According to the Population Reference Bureau, Statistics Canada and EU, the geriatric population stood at 51 million in North America and 94 million in Europe as of 2016, which has boosted the pharmaceutical industry
    Emerging customer base in the Middle East and Africa region provides the vacuum packaging market with high growth opportunities. Increasing need for hygienic and safe products drives the vacuum packaging market in this region. Increasing use of pharmaceuticals due to epidemics such as Ebola in Africa is likely to drive the demand for vacuum packaging in African countries
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    In Latin America, increasing awareness among consumers regarding food preservation and high disposable incomes coupled with growing reliance on packaged and easily available foods augment the growth of the vacuum packaging market. Presence of major processed food manufacturers such as Nestle and Heinz boosts the potential of vacuum packaging market in this region
Some of the key players in the vacuum packaging market include Amcor Limited, Bemis Company, Inc., Berry Plastics Corporation, Sealed Air Corporation, Linpac Packaging Limited, Multisorb Technologies, Inc., Coveris Holding SA, CVP Systems Inc., Ulma Packaging, SCOOP, and Orics Industries, Inc.
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Thursday, 28 September 2017

Automotive Labels Market - Global Industry Insights, Trends, and Forecast 2017-2025

Automotive labels serve the purpose of displaying company name, cost, technical information, components information, other specifications, and barcode in automobiles. These labels are durable even in high temperature. They are required to cope with engine conditions including high temperature and exposure to liquids such as brake fluid, screen wash, and engine oil.
The growing demand from automobile industry for RFID labels and mandatory compliance with automotive labeling laws are the main drivers for automotive labels market. Emerging countries and new product launches open up new opportunities for the market growth. The initial cost of manufacturing is more if manufactured in small quantities, hence the cost to profit ratio is a concern to small manufacturers.
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Automotive Labels Market Taxonomy
On the basis of end use, the automotive labels market is segmented into:
    • Asset Labels
    • Dome Labels
    • Branding Labels
    • Warning Labels
    • Inventory Labels
On the basis of mechanism, the automotive labels market is segmented into:
    • In-mold
    • Heat Transfer
    • Glue-applied
    • Pressure sensitive
On the basis of identification methods, the automotive labels market is segmented into:
    • Hologram
    • Barcode
    • RFID
    • Others
    On the basis of application, the automotive labels market is segmented into:
    • Chassis Labels
    • Engine Component Labels
    • Interior Labels
    • Exterior Labels
Asset tags are used to identify the product with unique serial number such as barcode. Dome labels are used to print the logo of the company. Branding labels and warning labels are used for printing brand name and cautions respectively for the appliances.
Pressure sensitive labels are set on the application of pressure. Heat transfer labels are set on heat exposure and glue labels are applied by using adhesives.  The segmentation based on application also depends on the label position.
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Automotive Labels Market Outlook
    Asia Pacific is the largest and estimated to be the fastest growing market due to burgeoning growth in the automobile industry, which has been driven by high automobile sales rate in India and China. According to China Association of Automobile Manufacturers (CAAM) and Society of Indian Automobile Manufacturers (SIAM), sales of cars in China stood at 28.03 million in 2016 and 3.00 million in India.
    Europe is the second largest automobile labels market due to the well-developed public transportation sector. Cars, vans, trucks, and buses in the region are considered to be the quickest, safest, and cleanest in the world
    North America is an emerging region in the automobile labels market. Demand for automobiles for heavy transportation has risen in the U.S. and Canada. A high preference for personal transportation in North America is expected to drive the automobile sector in the region.
    Latin America is projected to augment market growth due to the need of personal transports and high disposable incomes. Argentina is the largest export market in Latin America, which is also affected by economic downturn like most other countries in Latin America.
The major players in the Automotive Labels Market are 3M (U.S.), Avery Dennison Corporation (U.S), UPM-Kymmene Corporation (Finland), H.B. Fuller (U.S.), Sika AG (Switzerland), CCL Industries Inc. (Canada), Barry-Wehmiller Companies Inc. (U.S), Dunmore (U.S.), Lewis Labels Products Corp. (U.S), and Precision Contract Manufacturing (U.S).
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Constrained Layer Damping Market - Global Industry Insights, Trends, and Forecast 2025

Constrained Layer Damping (CLD) is a system used for the suppression of vibrations. It is made of two sheets that are rigid but have poor damping properties. A viscoelastic or other damping material is placed between them. On vibration of the surface, the vibration is trapped between the two sheets and degenerated in the constrained layer as sheer energy. Vibration damping materials are widely used in automotive applications to dampen the vibration and sounds of road noise and the engine. Particle damping is used as a substitute to CLD due to its high efficiency and low costs.
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The automotive industry constantly aims at reducing vehicle weight while striving to improve the noise, vibration, and harshness performance. This results in the need for improved vehicle acoustic performance with lightweight acoustic materials, treatments, and components. CLD provides an efficient technique to subdue throbbing and sound in these structures. It comprises viscoelastic material layers with high stiffness, which are able to dissipate vibratory energy in the structure through sheer deformation of the viscoelastic layer. This is a major driver for the growth of the constrained layer damping market.
Constrained Layer Damping Market Taxonomy
The global constrained layer damping market is segmented on the basis of applications as:
    • Engines and Power trains
      • Oil Pans
      • Valve Covers
      • Engine Covers
      • Push Rod Covers
      • Transmission Covers
      • Timing belt Covers
    • Body structures
      • Dash Panels
      • Door panels
      • Toe Pans
      • Floor pans
      • Wheel wells
      • Cargo barriers
    • Brakes
      • Brake insulators
      • Flex plates
      • Braking plates
      • Brake covers
    • Brackets & accessories
      • Roof Bows
      • Cross Bars
      • Steering Brackets
      • Door latches
      • Seat belts
The global constrained layer damping market is segmented on the basis of material as:
    • Latex
    • Butyl
    • Polysulfide
    • Silicone
    • Polyurethane
    • Vinyl
Most automobiles use vinyl, polyurethane, and butyl materials. They can be used as coatings or sealants and to produce products that take the form of sheets, foam, and tiles. It is essential that the damping material used has a strong bond to the required surface to provide extreme vibration reduction. CLD reduces interior noise and vibration by separating and absorbing noise vibrations, which are produced by the engine, suspension, and tires, which are the major sources of noise and vibrations. On the basis of application, CLD is used on a large scale in the production of body structures. This is due to the use of body structures in a variety of applications such as roof panels, door panels, floor panels, and hood panels which forms the important components of an automobile.
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Constrained Layer Damping Market Outlook
    In North America, the U.S. is the major automobile producer. Mexico is experiencing a boost in demand for automobiles owing to the rising disposable incomes. These conditions compel automakers and suppliers in the U.S. to manage supply chains and factory usage cautiously in the U.S., while continuing to expand in Mexico. Hence, the global constrained layer damping market is expected to witness a steady growth over the forecast period in North America
    The European Union has witnessed an improvement in automobile sales since the financial slump, however automakers in some E.U. nations such as Greece, Spain, and Portugal are still finding it difficult to grow their economies due to fragmented market condition and low profits
    The global constrained layer damping market in Asia Pacific is driven by the increase in automobile production. The growing demand for automobiles in developing countries of China and India is expected to boost automobile sales in this region. Growing disposable incomes is a factor driving automobile sales in this region, which as a result boost the market demand for CLD as well. China, India, Japan are the largest automobile producers in the world
    The rising infrastructure spend, buoyant private sector activity, and low interest rates in the Middle East act as major drivers for the growth of constrained layer damping market. Automobile sales in the Middle East is driven by high buying power and low fuel costs. Government subsidies also reduce automobile costs in this region. The growing demand for automobiles and availability of raw materials boost the growth of the global constrained layer damping market in this region
    In Latin America, the improvement of economic conditions of people in countries such as Brazil and Argentina has led to an increase in automobile sales in this region. The emerging markets provide the automotive market with major growth opportunities. This in turn boosts the global constrained layer damping market in Latin America.
Constrained Layer Damping Market Players
Some of the major players identified across the value chain of constrained layer damping market include Autoneum, 3M, Nitto, megasorber, VIbratek, Pyrotek, and Roush among others.
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Frozen Ready Meal Market- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

Ready Meals are complete meals that are already prepared, which are available in trays and require to be heated before serving. Frozen foods are said to be preserved foods, which resist the decay process and inhibit bacterial growth. Socio-economic expansion such as increasing women labor pool and increasing number of single member households has resulted in an increase in demand for convenience and minimal preparation foods that help save time and effort. Increase in growth of tourism and robust gross domestic product (GDP) are projected to increase demand for frozen foods. Moreover, product availability and retail shelf space play a key role in triggering growth of the frozen ready meal market. Distribution is a key factor in the current frozen food market. The factors hindering growth of this market include increasing number of private labels and local and unorganized brands. The innovative packaging of private and local brands attracts an enormous amount of consumers, ultimately fueling growth of the global market. Increase in the number of manufacturers of frozen food in the recent past, has led to large competition in the global market. Low cost of products provided by various suppliers has created a greater opportunity for users to choose a preferred supplier from the large number of global suppliers available in the market.
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Frozen Ready Meal Market Taxonomy:
On the basis of product type, the global market is segmented into:
    • Vegetables
    • Snacks
    • Soups
    • Meat and Poultry
    • Potatoes
    • Pie
    • Frozen seafood
    • Others
On the basis of moisture content, the global market is segmented into:
  • Low moisture content
  • Medium moisture content
  • High moisture content
On the basis of ingredient, the global market is segmented into:
    • Natural color
    • High Intensity Sweeteners
    • Fatty acids
    • Flavourant
    • Natural Flavors
On the basis of distribution channel, the global market is segmented into:
    • Supermarkets
    • Hypermarkets
    • Convenience stores
    • Specialty Stores
    • Online
Among product type, the largest segments are soups and snacks. Frozen seafood and vegetables are expected to witness higher growth in the market over the forecast period. Supermarkets lead the distribution channel in the global scenario.
Frozen Ready Meal Market Outlook- Europe holds a dominant position in the global frozen ready meal market.
Europe is the largest producer of frozen ready meals, followed by North America. Frozen ready meals have increased shelf life than chilled products, which helps maintain freshness and nutritional quality of the product. Thus, frozen ready meals are a more convenient alternative to chilled products, thus driving growth of frozen ready meals, in turn driving growth of the market globally. Frozen ready meals offer larger product collection ranging from various types of vegetables to beef, thus offering consumers the opportunity for product selection. The growth prospects of E-commerce and demand for natural and organic products have led to an increasing growth of frozen ready meal market. The amenity of having individual serving meals with reduced demand for preparation is gaining popularity, thus boosting demand for vendors selling ready to eat meals.
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Some of the key players in the global frozen ready meal market are ConAgra Brands Inc., Maple Leaf foods Inc., BRF, Tyson Foods Inc., Pinnacle Foods Inc., Campbell’s Soup, Sanquan Foods, McCain Foods (India) Pvt. Ltd., Kellogg NA Co., General Mills Inc., Greencore Group, Iceland Foods, Nomad Foods Europe Ltd., FRoSTA AG, Maple Leaf Foods, NICHIREI CORPORATION , The Schwan’s Shared Services, 2 Sisters Food Group, Ajinomoto Co. Inc., Amy’s Kitchen Inc., EUROPASTRY SA, and Fluery Michon.
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Botanical Extracts Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

Any drug or pesticide that is made or extracted from parts of plants is referred to as botanical extracts. Demand for botanical extracts is registering steady growth, particularly in pharmaceutical and cosmetic sectors. Increasing awareness regarding the side effects of allopathic medicines together with the growing awareness about therapeutic effects and medicinal benefits of herbal products is driving the growth of global botanical extracts market. The long shelf life of botanical extracts along with its sudden reaction has led to an increase in demand for botanical extracts in the pharmaceutical industry. Functional food segment and self-medication are expected to drive the global botanical extracts market during the forecast period. Use of botanical extracts for weight management, anti-aging, joint & bone health, and digestion, among others, is identified to be a prominent trend in the global market.
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Botanical Extracts Market Taxonomy
On the basis of source, the global market is classified into:
    • Spices
    • Herbs
    • Flowers
    • Tea Leaves
On the basis of form, the global market is classified into:
    • Liquid
    • Powder
On the basis of application, the global market is classified into:
    • Food
    • Sauces
    • Bakery & Confectionery
    • Beverages
    • Carbonated soft drinks
    • Iced Teas
    • Alcoholic beverages
    • Flavored Dairy products
    • Pharmaceutical
    • Cosmetic & personal care
    • Others
Spices are the largest source of botanical extracts and the segment accounts for the largest share in the global botanical extracts market. It finds significant application in the food and beverage industry. The powder segment is expected to account for a significant market share during the forecast period. Rising trend of exploring new cuisines and growing demand for healthy food will propel the demand for botanical extracts in the food industry.
Botanical Extracts Market Outlook
North America is expected to be the most lucrative market for botanical extracts followed by Europe. Many companies are inclining toward natural herb and botanical extracts products as they are witnessing high demand from every segment of food and beverage industry. According to Canadian Foods and Drugs Act, functional food products in North America are categorized under Generally Recognized as Safe (GRAS). Addition of natural, healthy, and aromatic ingredients to tea is a key trend in the market, which, in turn, demands more botanical extracts in this sector. Substantial demand for organic and fair trade ingredients are bolstering the growth of global botanical extracts market. Also, high investments made in the food and beverage industry to develop new aromas and flavors using spice and plant extracts is expected to fuel the market growth. Botanical extracts market in Europe is driven by shifting consumer preference toward natural products and healthy lifestyle. In street and convenience foods, chilly and pepper are most commonly used, which boost the use of botanical extracts in the food industry. Asia Pacific, being one of the major suppliers of botanical extracts, is an emerging market for the same. The raw materials for botanical extracts are obtained from both cultivated and wild harvested plants. This, in turn, has led to an increase in competition among botanical extracts manufacturers all over the world.
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Manufacturers of botanical extracts are introducing technologies related to extraction methods to expand their portfolio. In April 2017, BOTANIEX, one of the key companies in botanical extracts market introduced a patented cost-effective technology for extracting L-Theanine from green tea, which provides the beverage and supplement industry with an affordable natural ingredient.
Some of the key players in the global botanical extracts market are Frutarom, Ransom Natural Ltd, PT. INDESSO AROMA, Blue Sky Botanics Ltd., Haldin, Dohler, Nutra Green Biotechnology Co. Ltd., Jairamdass Khushiram Impex Pvt. Ltd., Organic Herb Inc., Fytosan, FutureCeuticals, Nexira, Green Source Organics, Acumen Lifesciences, Arjuna Natural Extracts Ltd., Prinova Group LLC, Synergy Flavors, Kalsec Inc., and Synthite Industries Ltd.
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Wednesday, 27 September 2017

Wind Turbine Composites Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-25

Wind Turbine Composites are being progressively used in the manufacture of wind turbine components. Superior mechanical properties, decreased operating expenditure, and a long lifespan has resulted in its increased use in the wind energy industry. Also, the lightweight property of composites enable the blades to rotate faster than other materials at the same wind speed. Moreover, reduced weight of turbine leads to less robust turbine requirements.
The major drivers are a shift towards renewable sources of energy in developed markets of Europe and North America. The increased lifespan and low operating expenditures have enabled it to be used in offshore wind energy installations as well. The major challenges are the high cost of composites and issue of reuse and recyclability of composite materials.
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Wind Turbine Composites Market Taxonomy
On the basis of fiber, the wind turbine composites market is segmented as-
    • Glass Fiber
    • Carbon Fiber
    • Others
      • Aramid Fiber
      • Basalt Fiber
      • Hybrid Fiber
On the basis of resin type, the wind turbine composites market is segmented as-
    • Epoxy resin
    • Polyester resin
    • Vinylester
    • Polyurethane
    • Polyamide
    • Others
On the basis of manufacturing process, the wind turbine composites market is segmented as-
    • Pre-preg
    • Vacuum Assisted Resin Transfer Molding (VARTM)
    • Hand Lay-up
On the basis of wind turbine component, the wind turbine composites market is segmented as-
    • Blades
    • Nacelles
      • Gearbox
      • Generator
    • Hub
    • Tower
    • Others
Glass and carbon fibers are the most commonly used fibers. Glass fiber is the most commonly used composite material for wind energy equipment. It is cheaper and less brittle compared to carbon fiber. Carbon fiber has superior mechanical properties such as high strength, lightweight, and corrosion resistance.
Pre-preg process involves reinforcing a fiber with a pre-impregnated resin. Pre-preg requires less curing time, less waste generation, and provides superior strength properties. VARTM process is quicker as it combines and cures the fiber and resins in one step. Also, the process is cost affective and has a scope for automation which has potential to further drive down costs. Hand lay-up is an open molding process, as it involves placing of mold by hand and wetting with resin. Although, it is the cheapest manufacturing process and is susceptible to manufacturing defects.
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Wind Turbine Composites Market Outlook
    Asia Pacific is the fastest growing region in the wind turbine composites market. According to the Global Wind Energy Council, China alone has installed 23.4 GW of new capacity. The growing market in China is a result of a vision to become energy dependent and sustainable. However, China is highly dependent on hydrocarbon imports from Middle East countries. Also, concerns regarding air quality due to coal emissions has led to the shift towards the use of renewable energy.
    Europe saw an increase of 1,558 MW of offshore wind installations. Germany and U.K are the major players in the European wind energy market. Strict regulation regarding emissions and carbon footprint has resulted in increased renewable energy development. In 2016, wind energy crossed coal to become the second largest power generator after natural gas.
    North America is a major player in wind energy. The Southwest Power Pool which provides power to 14 states in the central U.S was served by wind energy for 52.1% of the grid’s load. Although, low shale gas prices in the U.S has resulted in the slowdown of investments in renewable sources of energy.
    The Middle East and North Africa are emerging markets for wind energy. Saudi Arabia, Kuwait, and UAE are the major players in this region. The region has tremendous potential but growth is slow due to large hydrocarbon reserves in the region.
    Latin America is a world leader in renewable resources with 52% of energy production from renewable sources. Although, hydropower accounted for the major share. Moreover, lack of abundant hydrocarbon reserves has driven the growth for wind energy market.
In 2016, Gamesa Corp supplied 94 wind turbines to DONG Energy for the Borselle 1 and 2 wind project in the Netherlands. The project has boosted the wind turbines composites market in Europe.
Key Players in the Wind Turbine Composites Market
Key players in the wind composites market include Toray Industries, Cytec Industries Inc., Royal TenCate nv, Gurit Holding AG, Hexel Corporation, and Teijin Limited, TPI Composites, Inc., Gamesa Corporation Technology, Vestas Wind Systems A/S, and Suzlon Energy Limited
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