A new report titled Global Industrial Pumps Market research report published by Reports and Data offers accurate estimations of the growth rate and market size over the forecast period. The objective of this report is to help readers improve their industry’s performance by focusing on important business parameters including technological advancements, current market trends, limitations, and key players over the forecast period. Primary and secondary research techniques were used to effectively examine the desired data.
The materials and chemicals industry deals with the production and manufacturing of raw materials and chemicals for every end-use industry. The chemical industry produces industrial chemicals and raw materials and is a crucial part of the economy of every country. The increasing growth of end-use industries, rising penetration of materials informatics, the advent of 3D printing, and integration of advanced technologies and machinery are key factors contributing to revenue growth of the market. Furthermore, the rising number of product approvals, launches, and strategic alliances have significantly contributed to market growth. The report offers an extensive database for technological developments and product advancements.
Growing construction, automotive, and manufacturing industries are expected to raise the demand for industrial pumps in the Asia Pacific region. The Indian government has passed a policy for the promotion of FDI investment in the oil and gas sector. This will increase the production of petrochemicals and polymers in the country, hence propelling the demand in this region. Increased investment in desalination plants and wastewater is also expected to increase the sale of industrial pumps. Industrial Pumps are also in high demand from the power generation sector.
Increasing demand for essential consumer products including soaps, detergents, perfumes, etc., growing production of environmentally sustainable chemicals and raw materials, and technological advancements in chemical and material manufacturing processes are some of the key factors driving the growth trend of the global materials & chemicals market. Rapidly surging demand for organic chemicals and high-performance specialty chemicals in the oil & gas, pharmaceutical, pulp & paper, personal care & cosmetics, food & beverage, agriculture, and textile industries is another important parameter for market growth.