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Future Market Insights provides critical insights on the precision stainless steel market, in its published report, which includes the global industry analysis 2014-2018 and opportunity assessment 2019-2029. In terms of market value, the global precision stainless steel market is projected to expand at a CAGR of over 4% during the forecast period, owing to various factors, regarding which, FMI offers thorough insights and forecasts in this report.
The global precision stainless steel market has been segmented on the basis of thickness and end-use industry. The global precision stainless steel market is expected to expand 1.5x in terms of market volume by the end of 2029.
Precision stainless steel (below 0.4 mm) in the form of sheet or foil, is mostly used by food & beverage, automotive, pharmaceutical, aerospace, building & construction, and other industries (oil & gas, research & development, power, electronics, railway & transport, and others). In the report, precision stainless steel below 0.4 mm thickness is taken under consideration, where stainless steel foil (below 0.1 mm thickness), and precision stainless steel (0.1 mm to 0.4 mm) are categorized for in-depth analysis. Adoption of stainless steel foil is anticipated to increase in medical, aerospace, defence, petrochemical, laboratory, nuclear, and marine industries.
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Manufacturers Entry Uplifting Market in China and ASEAN Region
In the global precision stainless steel market, East Asia is estimated to hold nearly half of the market share in terms of volume, owing to the rapid growth of the manufacturing and infrastructure sectors in emerging economies such as China and South Korea. In terms of production and consumption of precision stainless steel, China is attributed to be the leading country across the globe. In the East Asia precision stainless steel market, China is anticipated to be a highly attractive market in terms of market share and growth rate during the forecast period.

In the South Asia precision stainless steel market, India is attributed to provide lucrative market growth opportunities due to the increased concentration of manufacturing and transportation segments. The entry of manufacturing giants in the ASEAN region is expected to deliver an impressive boost to the growth of the precision stainless steel market. In the ASEAN region, Indonesia is estimated to be the most significant market for precision stainless steel, while Malaysia is projected to expand at a high growth rate during the forecast period.
Europe’s Market Share Gradually Declining
The Europe precision stainless steel market is expected to witness slow growth owing to the maturity in demand from the manufacturing industry. By the end of 2029, the European precision stainless steel market is expected to lose market share to South Asia, as many manufacturing facilities are shifting to emerging economies in Asia. Germany is estimated to be the leading country in the European precision stainless steel market as it is the largest vehicle manufacturer in Europe. Energy and processing industries are actively driving the growth of the Russian precision stainless steel market during the forecast period.
Large infrastructure projects from GCC Countries promise exciting opportunities for the precision stainless steel market. The market is expected to witness impressive demand from Middle East & Africa, due to the increasing manufacturing and export of precision components for automotive from Turkey. In Latin America precision stainless steel market, Brazil is expected to be a prominent country in terms of production, consumption, and export of precision steel products. Construction and infrastructure sectors are key contributors to the overall growth of the Latin American precision stainless steel market. The Oceania precision stainless steel market includes Australia and New Zealand, and accounts for less than 1% of the global precision stainless steel market share.
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Key market players that have been profiled in the report on the precision stainless steel market include Nippon Steel Corporation, Jindal Stainless Group, ArcelorMittal SA, Aperam, Outokumpu Oyj, Kobe Steel, Ltd., Acerinox, AK Steel Corporation, Ulbrich Stainless Steels & Special Metals, Inc., and Baoshan Iron & Steel Co., Ltd., among others. Several unorganized and regional market players are expected to contribute to the development of the precision stainless steel market.
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Future Market Insights delivers key insights on the UV stabilized films market, in its recently published report titled, 'UV Stabilized Films Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029'. In terms of revenue, the global UV stabilized films market is projected to expand at a value CAGR of over 5% during the forecast period, owing to numerous factors, regarding which, FMI offers thorough insights and forecasts in this report.
The global UV stabilized films market has been segmented on the basis of product type, material type, thickness, technology, application, and end-use industry. The global UV stabilized films market is anticipated to expand 1.7x in terms of market value by the end of 2029.
Non-packaging Applications Account for Multiple Revenue Generation Channels
A UV stabilized film is a multi-layer film that absorbs, scatters, or reflects ultraviolet radiations and protects products from visible light degradation. UV stabilized films are used for packaging and non-packaging end-use industries in a variety of applications such as printing, lamination, industrial, and packaging applications. Manufacturers operating in the UV stabilized films market offer these films in thickness ranges such as up to 20 microns, 20 to 40 micron, 40 to 50 micron, and 50 microns & above. Technologies used for UV stabilized film manufacturing are adhesion lamination and co-extrusion coating. UV stabilized films are gaining traction in flexible packaging applications for preserving freshness, color, and enhancing the aesthetic appearance of packaged products. Along with this, UV stabilized films increase the shelf-life of the products.
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Market Attractiveness of South & East Asia Remains Intact
As indicated by the regional analysis of market, East Asia is expected to account for nearly one-third of the total market value share in the global UV stabilized films market by the end of 2029 and is anticipated to expand at a value CAGR of over 7% during the forecast period. India is one of the leading contributors of UV stabilized films in the East Asian UV stabilized films market, which was valued more than US$ 700 Mn in 2018. Key players in the South Asian market such as Uflex Ltd., Jindal Poly Films, and others are expanding their production to cater to the increasing demand for UV stabilized films in the global market. The South Asian market is anticipated to expand at a substantial growth rate during the forecast period.
The total incremental opportunity represented by East Asia is relatively high as compared to other regions in the global UV stabilized market. The burgeoning demand for UV stabilized films from the building & construction industry is expected to further boost the sales of UV stabilized films in the region. After the East Asian region, Europe is another attractive market for UV stabilized films. This is attributed to the presence of well-established players in the region, which suffice the rising demand for UV stabilized films. The European market is expected to expand 1.4x of its current value by the end of the forecast period.
China is anticipated to expand at a value CAGR of over 8% during the period 2019-2029. Thailand and Indonesia are expected to represent cumulative incremental opportunity of approximately US$ 0.35 Bn by the end of 2023. The South Asian UV stabilized films market by non-packaging end-use industry is estimated to be valued nearly US$ 1.3 Bn by the end of 2019, and is projected to expand at a CAGR of above 7% during the forecast period.
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Company profiles of key market participants that have been profiled in the report on the UV stabilized films market include Uflex Ltd., Mitsubishi Polyester Film, Inc., Toray Plastics (America). Inc., DuPont Teijin Films U.S. Limited, Polyplex Corporation Ltd., Terphane LLC, Toyobo Co., Ltd., Ester Industries Ltd., RKW SE, Sigma Stretch Film Corp., Coveme Spa, Kolon Industries, Inc., Elif Plastik Amb.San.Tic.A.Ş, Group Michiels Advanced Materials, Walco Corporation, Vampire Optical Coatings, Inc., Custom Extrusion Technologies, Inc., Arid Agritec Ltd, FVG Folien-Vertriebs GmbH, and Kangde Xin Composite Material Group Co., Ltd. (KDX).
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Surgical booms are also known as Equipment Management Systems (EMS). Surgical booms are used to constrain electrical wiring from the various equipment used in the OR. They also help organise the space in the OR by increasing the working space. Most surgical booms are suspended from the roof of the OR and are available in a number of designs and utilities. According to the latest research by FMI, the global surgical booms market is expected to account for more than US$ 380 Million in terms of value by the end of 2029. The surgical booms market report also projects significant growth potential with an anticipated average Y-o-Y growth rate of over 4.5% during the forecast period.
Increase in the Adoption of Minimally Invasive Surgeries is Likely to Drive the Growth of the Surgical Booms Market
Minimally Invasive Surgery (MIS) is one of the major trends in medicine. MIS is a safe, feasible, and patient-friendly method of performing medical procedures such as surgery. MIS offers reduced postoperative pain, shorter length of stay in a hospital, lesser scarring or damage to tissues, and generally leads to faster recovery. Hence, MIS is easier and less time-consuming. As clinicians seek safer and more efficient ways to perform surgery, they find new applications for minimally invasive procedures, because the benefits of the same for patients are paramount. Furthermore, the increasing number of insurance providers that offer reimbursement for costs incurred during most minimally invasive procedures is expected to increase the adoption rate of minimally invasive surgeries. The Centers for Medicare and Medicaid Services (CMS) provides reimbursement for peripheral access procedures, such as the insertion of a port or catheter into a large central artery that is directly related to or is near the heart. Thus, increase in the number of minimally invasive surgeries is boosting the demand for equipment management systems such as equipment booms.
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High Capital Investment for Integrated OR to Hinder the Growth of Surgical Booms Market
Integrated ORs utilise a crossover of medical interventions to form hybrid technologies. The development and integration of ORs requires the re-organization of professionals. In addition, there is a need to upgrade the capital equipment. Cost of such advanced capital equipment is high. Furthermore, compatibility with existing or new devices/infrastructure is likely to present a hurdle for the designers, manufacturers, and end users of surgical booms. A hybrid OR, on an average, requires 50-80% more space as compared to a conventional OR in the U.S., and 30-40% more in Germany. The additional space required is another factor that is likely to increase the cost of the setup of an integrated OR. Thus, the capital cost required for an integrated OR is likely to hinder the growth of the surgical booms market.
Surgical Booms Market: Segmental Analysis
The global surgical booms market has been segmented on the basis of product, installation, and end user. On the basis of product type, the surgical booms market has been segmented into equipment booms, utility booms, anaesthesia booms, and custom booms. Custom booms lead the market due to the flexibility of choice the customers have from manufacturers. Based on installation, the surgical booms market has been segmented into roof mounting and floor mounting. In terms of revenue, the roof mounting segment is expected to have a major share in the surgical booms market during the forecast period as these are more flexible and conserve space in the OR more effectively. On the basis of end user, the surgical booms market has been categorised into hospitals, ambulatory surgical centres, specialty clinics, and hybrid operating rooms. The revenue generated by the hospitals segment of the surgical booms market is expected to witness significant growth, which is driven by the presence of a large number of ORs and associated ICU departments at various hospitals.
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Surgical Booms Market: Companies
Some of the key players in the surgical booms market include CV Medical LLC., Stryker Corporation, Hill Rom Holdings Inc., Amico Group of Companies, Steris Plc, Ondal Medical Systems GmbH, Getinge Group, Pratibha Medinox, Skytron LLc, and Palakkad Surgical Industries, among others.
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