By material type (Carbon Brick Lining, Tile Lining, Thermoplastics Lining, Flouro polymer Lining, Ceramic Brick Lining); By technology (Solvent borne technology, Waterborne technology, Powder-based technology); By end user (Energy and power industry, Construction industry, Automotive industry, Chemicals industry, Mining & metallurgy industry) - Global Industry Demand Analysis & Opportunity Assessment 2018-2027
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By material type:
By technology:
By End user:
By Region
The acid proof lining market is further classified on the basis of region as follows:
The global acid proof lining market has been segmented on the basis of geography which includes North America, Latin America, Europe, Asia Pacific and Middle East and Africa. The market is anticipated to expand at a CAGR of 3.2% in the year 2018-2027, of the total market. By material type, ceramic brick segment is expected to contribute 35% of the total market in terms of revenue and thermoplastics lining segment will attain 28% of the total market share by 2027. The global acid proof lining market is set to achieve the value of around USD 6 Bn by the end of 2027. By end user, the chemical industry segment is anticipated to grow at a fastest rate which is likely to contribute 34% of the total market by the end of 2027.
By geography, European region contributed significantly towards the growth of acid proof lining market in 2016. In Europe, Germany contributed substantially in the region in the same year.
Asia Pacific is anticipated to remain the largest market by geography. The Asian countries such as China and India are observing significant growth in the market. The rapid industrialization in Asian-Pacific region especially in the countries that include China, India and japan are providing key opportunities for major players to establish themselves in the market. Huge investments in the industrial sector is also fostering the market growth.
The availability of low cost acid proof linings which include ceramic brick linings and robust growth in chemical, metallurgy and mining industry are some of the major growth drivers for the acid proof linings market. The expansion of mining industry and increasing economic growth across the globe will foster the market in future. The industries are now concentrating towards increasing the life of its mechanical equipment buildings and assemblies and also prevent them from acid and alkalis. The increase in the investment by some of the key players is also providing the base for the expansion of the market.
However there are certain restrains associated with it which includes high cost of manufacturing which leads to expensive final products is anticipated to hamper the growth of the market
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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