Cubic Boron Nitride Market: Shipment Volume to Cross 276.30 tons by 2024, TMR

A new research study by Transparency Market Research (TMR), states that the global cubic boron nitride market is consolidated in nature. The top three companies, together, held more than 48% of this market in 2015. Analysts expect the scenario to remain more of less same over the next few years. With key players, such as 3M, Showa Denko K.K., and Saint- Gobain, being backward integrated into the hexahedron boron nitride market, the worldwide cubic boron nitride market displays a moderately competitive landscape.

Currently, product advancement is the key strategy adopted by the leading participants in this market for the development of their business and they are likely to keep following the suit over the forthcoming years, notes the market study.

According to the research report, the global cubic boron nitride market stood at US$531.3 mn in 2015. Increasing at a CAGR of 7.10% over the period from 2016 and 2024, the opportunity in this market is likely to rise to US$978.9 mn by the end of the forecast period. In terms of volume, the market is expected to reach 276.30 tons over the same period of time.

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Presence of Large Participant Pool to Safeguard Asia Pacific’s Dominance

The report further offers an exhaustive assessment of the global cubic boron nitride market on the basis of its regional presence. Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific have been considered as the key geographical segments of this market in this research study. In 2015, Asia Pacific dominated this market with a share of 35% and is expected to retain its position throughout the forecast period, reports the study.

The presence of a large pool of market participants and the rising demand for cubic boron nitride in a number of Asian economies, such as China, India, and Japan are anticipated to boost the Asia Pacific cubic boron nitride market in the near future. Apart from this, the substantial rise in the medical and healthcare, automotive, and the aerospace industries in developing countries is also projected to propel this regional market in the years to come.

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In ter4ms of products, the report classifies this market into inserts, wheels, mesh, and powder. Among these, inserts enjoy a higher demand than others. Researchers predict this trend to continue over the next few years, thanks to the rising application of inserts in the metal processing industry due to the growing need for various processes, such as cutting, grinding, and finishing, states the research report.

Increasing Awareness Regarding Benefits of Cubic Boron Nitride to Boost Growth

“The increasing awareness regarding the benefits of cubic boron nitride over other hard materials used for various industrial processes, such as cutting, grinding, drilling, and boring, is having the most significant impact on the growth of the global market for cubic boron nitride,” says the author of the study. Diamond is said to be the hardest material utilized for these processes but it also has various technological limitations, which gives a cubic boron nitride an edge over it, reflecting positively on the demand for the former across the world.

Currently, the market looks thriving and full of opportunities. However, the high cost associated with the production processes may deter this market from growing steadily in the years to come, states the research report.

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015. Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

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