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APAC is expected to be the largest market for Specialties of Lube Oil Refinery

The specialties of lube oil refinery market has been studied for APAC, North America, Europe, South America, and the Middle East & Africa. The APAC specialties of lube oil refinery market is projected to register the highest CAGR, in terms of value, during the forecast period. The global specialties of lube oil refinery market has witnessed a sluggish growth, owing to the slow growth in North America and Europe. This created huge opportunities for the consumption of specialties of lube oil refinery in APAC. Change in lifestyle and purchasing power parity of the consumers in this region is also driving the use of specialties of lube oil refinery in the cosmetics, pharmaceutical, and packaging industries.

The specialties of lube oil refinery market is expected to grow from USD 10.4 billion in 2018 to USD 11.3 billion by 2023, at a CAGR of 1.8%. The growth of the specialties of lube oil refinery market is attributed to the growing packaging, pharmaceutical, and cosmetics industries. 

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Companies such as Exxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), PetroChina Company Limited (China), Repsol SA (Spain), Eni S.p.A. (Italy), LUKOIL (Russia), and Sasol Ltd. (South Africa) are the leading players in the specialties of lube oil refinery market, globally.  Diversified product portfolio, high depth in application reach, and technical assistance to customers are factors responsible for strengthening the position of these companies in the specialties of lube oil refinery market. They have also been adopting various organic and inorganic growth strategies, such as new product development, merger & acquisition, and expansion, to enhance their current position in the specialties of lube oil refinery market. 

Sinopec Corporation (China) is the other major player in the specialties of lube oil refinery market. The company adopted the inorganic growth strategies to establish its foothold, globally. For example, Gaoqiao Petrochemical Co Ltd. (China), a wholly owned subsidiary of Sinopec Corporation, purchased the 50% stake of BP Group (UK) in the Shanghai SECCO Petrochemical Company Limited (SECCO) and formed a 50-50 joint venture with Shanghai Secco Petrochemical. In January 2016, Sinopec Corporation entered into a joint venture with Saudi Aramco (Saudi Arabia) for strategic co-operation to set up a refinery Yanbu Aramco Sinopec Refining Company at Riyadh, Saudi Arabia. With this joint venture, the company plans to build strong business relationships with customers in the Middle East and improve its position in the specialties of lube oil refinery market.

Scope of the Report:

Report MetricDetails
Market size available for years2016-2023
Base year considered2017
Forecast period2018–2023
Forecast unitsValue (USD), Volume (Kiloton)
Segments coveredType and Region
Regions coveredNorth America, APAC, Europe, South America, and Middle East & Africa
Companies coveredExxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), Eni S.p.A. (Italy), Sasol Ltd. (South Africa)
Total 25 major players covered

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Dental Diamond Burs Market Driver: Changing lifestyles and unhealthy food habits

Lifestyle changes, unhealthy food habits, and the growing intake of high-sugar food and aerated drinks result in a rapid decline in oral hygiene and increasing incidences of dental problems. According to the World Health Organization (WHO) Global Burden of Disease Study (2017), oral diseases have impacted ~3.5 billion people across the globe. Nearly 2.3 billion people and 530 million children suffer from cavities. This suggests an increased uptake of dental procedures and demand for dental equipment. Dental equipment is utilized for diagnosis, teeth removal, ortho-dentistry, restoration, and other dental treatments and procedures. This helps dentists in finding the cause of dental problems.

Growth in the prevalence of dental problems is due to factors, such as:

  • Increasing consumption of high-sugar foods: Chocolates, sugary cookies, cakes, ice cream, and donuts contain sugar in abundance. Bacteria present in the mouth grow as a result of high sugar. Sugary drinks leave a coating on gums and teeth that increases the bacterial attack leading to weakened dental health.
  • Consumption of tobacco-related products: The adverse impacts of tobacco on oral health include relatively harmless discoloration, halitosis, staining of teeth, oral mucosal diseases, smoker’s palate, smoker’s melanosis, increasing candidiasis, cavities, and malignant lesions; it could also lead to life-threatening oral cancer. 
  • Gum diseases: Bleeding gums, swelling, chronic bad breath, or sensitivity to cold or hot foods due to stubborn bacteria in oral cubicles are major factors resulting in poor oral health.

Oral piercing: According to the American Dental Association, a rising number of people are opting for oral piercing, resulting in a high rate of infection. Oral piercings are commonly seen in young adults, and the tongue is considered the most common site for oral piercing placement. This results in bleeding, chipped or damaged teeth, lacerations/scarring, palatal erythema, swelling, gingival recession, or unusual discharge from the pierced region. Such instances boost the demand for dental procedures.

The global dental diamond burs market size is estimated at USD 130 million in 2021 and is projected to reach USD 191 million by 2026, at a CAGR of 8.0%, between 2021 and 2026. Dental diamond burs are restorative instruments. The dental diamond burs market is witnessing high growth owing to the rising cases of dental diseases, increasing demand for cosmetic dentistry, growing dental tourism in emerging markets, changing lifestyles, unhealthy food habits, and the increasing disposable income in developing countries.

Browse 230 market data Tables and 60 Figures spread through 226 Pages and in-depth TOC on “Dental Diamond Burs Market by type (Diamonds, Tungsten Carbide, Stainless Steel), Application (Hospitals, Clinics), Technology (Electrolytic Co-deposition, Micro brazing, CVD (Chemical Vapor desposition), Sintering), and Region – Global Forecasts to 2026”

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Impact of COVID-19 on global steel wire market

The steel wire market is expected to witness a decline in 2020 due to the COVID-19 pandemic. This deadly virus has adversely affected the entire globe, especially the North American and European regions. To prevent the further spread of this virus, companies have shut down their operations and manufacturing facilities. This has led to a reduction in the consumption of steel wires across industrial manufacturing, mining, automotive, aerospace & defence, and other industries.

The global steel wire market size is expected to grow from USD 93.1 billion in 2020 to USD 124.7 billion by 2025, at a CAGR of 6.0% during the forecast period. Steel wire is extensively being used in the construction, automotive, energy, agriculture, industrial, and other end-use industries. The increasing construction & infrastructure projects support the demand for steel wire in the construction end-use industry.

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Recovery in automotive end-use industry post COVID-19

The automotive end-use industry is the worst-affected industry due to the COVID-19 pandemic. The automotive demand fell by 19% in the first ten months of 2020 as compared with 2019. According to the World Steel Association, the consumption of finished steel is expected to fall by 17% in 2020 in the automotive end-use industry; the consumption is expected to grow in the post-pandemic situation. The finished steel consumption is expected to grow by 13% globally. Europe is the hub for the automotive industry; the growth in the automotive sector is an opportunity for steel wire manufacturers in the region. Also, various governments have offered stimulus packages for the automotive industry in the European region, which is expected to help the automotive manufacturers in the region.

Need to maintain uninterrupted supply chain and operate at full capacity post COVID-19

The global construction, automotive, mechanical manufacturing, and metal industries have witnessed adverse and immediate consequences of the COVID-19 pandemic. These are the worst-affected industries, and the biggest challenge for steel wire manufacturers is to resume production at their original capacities and make up for the revenue loss and damage caused by the pandemic. The COVID-19 pandemic has created ripples across the global steel wire industries due to the closure of national and international borders, leading to disrupted supply chains. The challenges in the current and future scenarios for the steel wire industry are to ensure the smooth flow of global supply chains, responsible for rapidly transporting materials and components across borders and fabrication facilities. These industries have to make up for the delays or non-arrival of raw materials.

APAC held the largest market share in the steel wire  market

The region has a largest share in the steel wires market owing to its increasing demand    from construction & infrastructure projects, growing automotive production, growing energy transfer infrastructure, and increasing industrial manufacturing. The region has presence of number of tire one manufacturers, electricity consumption is growing in the region which has huge opportunity for steel wire markets in these sectors.

Key Market Players

The key players in the global steel wire market are:

  • ArcelorMittal (the Luxembourg),
  • Nippon Steel (Japan)
  • JFE Steel Corporation (Japan)
  • Bekaert SA (Belgium)
  • Tata Steel Limited (India)
  • Kobe Steel Limited (Japan)
  • The Heico Companies (United States),
  • Ferrier Nord (Italy)

These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the steel wire  industry. The study includes an in-depth competitive analysis of these key players in the steel wire  market, with their company profiles, recent developments, and key market strategies. 

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Lanxess (Germany) and Perstorp (Sweden) are the leading players in Calcium Formate Market

The global calcium formate market size is estimated to grow from USD 545 million in 2020 to USD 713 million by 2025, at a CAGR of 5.5% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application areas of calcium formate ranging from leather and textile to the construction industry. Increasing demand from APAC will further drive the growth of the global calcium formate market.

APAC is estimated to be the leading calcium formate market during the forecast period. The growth in this region can be attributed to the rapidly increasing demand for calcium formate from the end-use industries, especially construction, leather & textile and animal husbandry.  The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these calcium formate additives in the APAC and Europe.

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Lanxess (Germany), Perstorp (Sweden), Chongqing Chuandong Chemical (Group) Co. Ltd. (China), Geo Specialty Chemical Inc.(Ohio), and Zibo Ruibao Chemical Co. Ltd. (China), American Elements (US), Henan Botai Chemical Building Material Co. Ltd. (China), Shandong Baoyuan Chemical Co. Ltd. (China), Jiangxi Kosin Organic Chemical Co. Ltd (China) and Sidley Chemical Co. Ltd (China) among others are the leading calcium formate manufacturers, globally. These companies adopted expansion, new product development, joint venture, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the calcium formate market.

Lanxess (Germany) is the largest player in the market. In February 2020, LANXESS completed the acquisition of Itibanyl Produtos Especiais Ltda. (IPEL). With the acquisition, LANXESS is strengthening its position as one of the world’s leading manufacturers of antimicrobial active ingredients and formulations. In November 2019, PMC Group acquires of Lanxess’ Organotin Specialties Business Assets. The Business included Lanxess’ global organotin catalyst, organotin specialties and intermediates product lines.

Perstorp (Sweden) is ranked second in the calcium formate market. In November 2019, Perstorp, invested in the construction of a new Pentaerythritol (Penta) production facility in Gujarat, India. The Gujarat plant will produce Penta, including the renewable grades of Voxtar, providing up to a 60% reduced carbon footprint. Commercial production is planned to start in Q1 2022. Also, in July 2019, ProPhorce  Valerins is the latest innovation by Perstorp in the field of animal nutrition.  It consists of glycerol esters of valeric acid. Research have shown that this product significantly improves broiler performance even when compared to industry standards such as butyric acid.

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Steel Wire Market Competitive Analysis with Growth Forecast Till 2025

Steel wire are used in a various of end-use industries, including construction, automotive, energy, agriculture, industrial, and others. It possesses high strength, scrub resistance, and good conductivity, which makes it useful in applications such as wire for tires, hoses, galvanized wires and strands, ACSR strands, and armoring of conductor cables, springs, fasteners, clips, staples, mesh, fencing, screws, nails, barbed wires, chains, etc. However, amidst the global COVID-19 pandemic, the demand for steel wires from the industries mentioned above is expected to show a sharp decline. The global steel wire market size is expected to grow from USD 93.2 billion in 2020 to USD 124.7 billion by 2025, projecting a CAGR of 6.0 % during the forecast period between 2020 and 2025.

APAC accounts for the biggest share of the global steel wire market. The construction and automotive end-use industry are major consumers of steel wire in the region. The region is home to some of the major steel wire manufacturers such as Kobe Steel, Tata Steel, and Nippon Steel. Moreover, the China is a manufacturing hub of various commercial, military, and passenger automotive vehicles. Europe is the second major consumer of steel wire construction; automotive and energy are the major industries fueling the growth of the steel wire market in this region.

To know about the assumptions considered for the study download the pdf brochure

Over the past years, steel wire manufacturers have strengthened their position in the global steel wires market by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions. However, owing to lockdown announced by several countries in 2020, the demand for steel wire from automotive, industrial and energy end-use industries has declined sharply, which resulted in declined demand for steel wire. For instance, as per European Automobile Manufacturers Association the demand for the demand for new cars in Europe is declined by 25% in first quarter of 2020, thereby reducing steel wire demand.

The major manufacturers profiled in this report include ArcelorMittal (Luxembourg), Nippon Steel (Japan), JFE Steel Corporation (Japan), TATA Steel Limited (India) and Kobe Steel, Ltd. (Japan), are some of the key players in the steel wire market. JSW Steel Ltd. (India), Bekaert SA (Belgium), The Heico Companies (United States), Ferrier Nord (Italy) and Byelorussian Steel Works (Belarus), and among others. The steel wire business of these companies is severely affected due to the outbreak of COVID – 19 pandemic. Reduced demand for steel wire from several OEMs and disruption in the supply chain have compelled the steel wire manufacturing companies to operate at partial capacities. However, several steel wire manufacturers have focused their concentration on new product development. These developments, coupled with end-use industries resuming their operations at full capacities, would create demand for steel wires during the forecast period. For instance, Bekaert SA reached to and acquisition agreement with Bridon-Bekaert Ropes Group and took full ownership. The company adopted this strategy to grow their business globally and to create significant value over the period of time.

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Growing demand of calcium formate in the construction industry

Calcium formate is used as cement additive and concrete accelerator, tile adhesives and cement-based mortars. The growth in the consumption of cement from the construction industry effectively boosts the demand for calcium formate market.

Calcium fromate is used as a cement additive in the construction industry for quick setting and increasing hardness of cement products. Cement is also used in the production of various products such as bricks and blocks, slabs and sheets, adhesives and concrete. In addition, calcium formate is also used as an inhibitor, PH regulator, corrosion protector to substrates of buildings and infrastructure, and for cementation of oil drilling. It is mostly used in the production of concrete in China which is one of the most dominant countries in the production and consumption of cement. Thus, the growing demand of cement in the construction industry is driving the market for calcium formate

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The global calcium formate market size is estimated to grow from USD 545 million in 2020 to USD 713 million by 2025, at a CAGR of 5.5% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application areas of calcium formate ranging from leather and textile to the construction industry. Increasing demand from APAC will further drive the growth of the global calcium formate market.

The construction industry will continue to lead the calcium formate market, , accounting for a share of 29.7% of the overall market, in 2019 terms of value. Increasing construction and infrastructural activities is expected to boost the rising demand for cement and concrete in the near future. The use of calcium formate as an accelerator in the concrete setting application decreses the setting time and increases the strength, thus boosting the global calcium formate market

Recent Developments

  1. In November 2019, Perstorp, invested in the construction of a new Pentaerythritol (Penta) production facility in Gujarat, India. The Gujarat plant will produce Penta, including the renewable grades of Voxtar, providing up to a 60% reduced carbon footprint. Commercial production is planned to start in Q1 2022.
  2. In February 2020, LANXESS completed the acquisition of Itibanyl Produtos Especiais Ltda. (IPEL). With the acquisition, LANXESS is strengthening its position as one of the world’s leading manufacturers of antimicrobial active ingredients and formulations.

APAC is estimated to be the leading calcium formate market during the forecast period. The growth in this region can be attributed to the rapidly increasing demand for calcium formate from the end-use industries, especially construction, leather & textile and animal husbandry.  The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these calcium formate additives in the APAC and Europe.

Increasing demand from the construction industry to drive the demand for steel wire

The global steel wire market size is expected to grow from USD 93.1 billion in 2020 to USD 124.7 billion by 2025, at a CAGR of 6.0% during the forecast period. Steel wire is extensively being used in the construction, automotive, energy, agriculture, industrial, and other end-use industries. The increasing construction & infrastructure projects support the demand for steel wire in the construction end-use industry.

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The construction industry is the largest application industry in the steel wire market in terms of volume. Steel wire find wide applications in construction industry in road, river & railway bridges and flyovers, atomic reactor domes, slabs, silos, hangers, aqueducts, high-rise buildings, viaducts, and railway sleeper construction.

The construction industry has increased demand for steel wire in prestressed concrete applications as it reduces the construction time and concrete material requirement. The demand for steel wires from construction end-use is expected to decline in 2020 due to halts in construction projects in the first half of 2020. Also, major manufacturers temporarily closed their plants during the lockdown. The demand is expected to recover after the COVID-19 pandemic is under control.

Recent Developments

  • In January 2019, Byelorussian Steel Works signed the supply contract with a Continental (Germany) in order to supply around 32.8 thousand tons of steel cords. This agreement helped company to maintain their competitive position in the market.
  • In April 2018, Bekaert  SA reached to and acquisition agreement with Bridon-Bekaert Ropes Group and took full ownership. The company adopted this strategy to grow their business globally and to create significant value over the period.

APAC accounts for the biggest share of the global steel wire market. The construction and automotive end-use industry are major consumers of steel wire in the region. The region is home to some of the major steel wire manufacturers such as Kobe Steel, Tata Steel, and Nippon Steel. Moreover, the China is a manufacturing hub of various commercial, military, and passenger automotive vehicles. Europe is the second major consumer of steel wire construction; automotive and energy are the major industries fueling the growth of the steel wire market in this region.

The key players in the steel wire  market include ArcelorMittal (Luxembourg), Nippon Steel (Japan), JFE Steel Corporation (Japan), TATA Steel Limited (India) and Kobe Steel, Ltd. (Japan), are some of the key players in the steel wire market. JSW Steel Ltd. (India), Bekaert SA (Belgium), The Heico Companies (United States), Ferrier Nord (Italy) and Byelorussian Steel Works (Belarus), and among others. These companies are involved in adopting various inorganic and organic strategies to increase

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Calcium Formate Market worth $713 million by 2025, at a CAGR of 5.5%

The global calcium formate market size is estimated to grow from USD 545 million in 2020 to USD 713 million by 2025, at a CAGR of 5.5%. Calcium formate are used across industries, such as construction, leather & textile, power generation, animal husbandry and chemicals. In the calcium formate market, construction is the key end-use industry owing to the wide applications of calcium formate as concrete setting, tile & stone additive, and others in this sector.

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The industrial grade segment is the largest grade of calcium formate.

The calcium formate market has been segmented based on grade into two types namely industrial grade and feed grade.  Among the two grades, the industrial grade segment accounted for the largest share of the market in 2019 and is likely to witness a significant growth during the forecast period. The demand for industrial grade calcium formate is driven by its use in numerous applications such as cement & tile additive, flue gas desulfurization agent and feed additives. Moreover, increasing use of industrial grade calcium formate in feed, construction and chemical industries is driving the global calcium formate market.

The construction end-use industry is expected to register the highest CAGR in the global calcium formate market

The construction end-use industry segment is growing rapidly. This is due to the use of calcium formate as cement accelerator, production of concrete and cement based mortar, cement blocks & sheets, and other cement based products required in the construction industry. Calcium formate enhances the properties in cement such as increased hardness and less setting time, inhibition of corrosion of metal substrates and prevention of efflorescence. Thus, increasing consumption of cement in the construction industry is driving the market for calcium formate.

APAC is estimated to be the leading calcium formate market during the forecast period. The growth in this region can be attributed to the rapidly increasing demand for calcium formate from the end-use industries, especially construction, leather & textile and animal husbandry.  The market is witnessing moderate growth, owing to increasing application, technological advancements, and growing demand for these calcium formate additives in the APAC and Europe.

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Increasing demand for better quality cosmetics and healthcare products is driving the demand for specialties of lube oil refinery

The global specialties of lube oil refinery market is estimated to be USD 10.4 billion in 2018 and is projected to reach USD 11.3 billion by 2023, at a CAGR of 1.8%. The growth in the packaging, rubber manufacturing, cosmetics, and pharmaceutical industries is expected to drive the specialties of lube oil refinery market.

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Based on type, the specialties of lube oil refinery market has been segmented into fully refined wax, semi refined wax, slack wax, microcrystalline wax, white oil, rubber process oil, petrolatum, and others. Fully refined wax is projected to be the largest segment of the market during the forecast period. Fully refined wax is largely used in personal care and pharmaceutical products such as cold creams, hair oils, lipsticks, ointments, and laxatives. This wax is also widely used for making candles.

The growth of the market in APAC is mainly driven by the shift of production facilities from North America and Europe to the region. China, India, and Southeast Asia are the major contributors to the growth of the packaging, pharmaceutical, and cosmetics industries. These industries are witnessing growth owing to the increasing per capita expenditure and growing urbanization. This is further expected to create demand for specialties of lube oil refinery in the region.

Companies such as Exxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), PetroChina Company Limited (China), Repsol SA (Spain), Eni S.p.A. (Italy), LUKOIL (Russia), and Sasol Ltd. (South Africa) are the leading players in the specialties of lube oil refinery market, globally.  Diversified product portfolio, high depth in application reach, and technical assistance to customers are factors responsible for strengthening the position of these companies in the specialties of lube oil refinery market. They have also been adopting various organic and inorganic growth strategies, such as new product development, merger & acquisition, and expansion, to enhance their current position in the specialties of lube oil refinery market. 

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North America dominated the industrial gas equipment market

North America held the largest share in the industrial gas handling equipment market and is projected to dominate the market during the forecast period. The U.S. is projected to be the fastest-growing country level market for industrial gas handling equipment, during the forecast period, whereas the market for Asia-Pacific is projected to grow at the highest CAGR. Factors such as growth of the metal fabrication industry due to the increasing demand for automobiles and consumer appliances, development of new technologies and machineries in the healthcare & medical sector, rapid industrialization in the emerging Asia-Pacific region, and stringent government regulations regarding worker and environmental safety are driving the industrial gas handling equipment market.

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The gas equipment market size will grow from USD 51.93 Billion in 2016 to reach USD 72.22 Billion by 2021, at an estimated CAGR of 6.82%. Strict government standards and regulatory legislations have a positive impact on the safest and proper use of gas equipment. Rapid industrialization, growing concern toward the public health, and laws & regulations have propelled the growth of the gas equipment industry.

Gas equipment market, on the basis of equipment category, consists of gas delivery systems, gas regulators, flow devices, purifiers & filters, gas generating systems, gas detection systems, cryogenic products, and accessories. Due to the increasing use of super cooled liquefied gases in the chemical sector and other industrial activities, the demand for cryogenic products such as pressure vessels, cryogenic storages, and cold traps for the purpose of transporting and storing has also increased and it is expected to witness the same trend through 2021. 

On the basis of gas, the market has been categorized into atmospheric gases, hydrogen, acetylene, helium, and other gases which include carbon monoxide, krypton, neon, xenon, and nitrous oxide. The atmospheric gases segment recorded the largest consumption of gas equipment in 2015 due to the huge demand for this type of gases in the industrial applications. Hydrogen and acetylene gas have high potential as the demand for these gases is growing rapidly in the chemical, food processing, and metallurgical industries.

The key players in the industrial gas handling equipment market are Linde AG (Germany), Air Liquide S.A (France), Praxair Inc. (U.S.), Air Products And Chemicals, Inc. (U.S.), and Iwatani Corporation (Japan). The other players in the market are Colfax Corporation (U.S.), Itron, Inc. (U.S.), Messer Group GmbH (Germany), Matheson Tri-Gas, Inc. (U.S.), and GCE Holding AB (Sweden).

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