Top 3 Emerging Trends in the Non-metallic Expansion Joints Market in the Next Five Years: Technavio

August 30, 2017

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest report on the global
non-metallic expansion joints market provides an analysis of
the most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

Infrastructural development is expected to drive the natural gas and oil
pipeline industry, which, in turn, will transcend to the growth of the
global market for non-metallic expansion joints. China alone needs to
build cities to accommodate its new urban residents. India is no
different. India needs to accommodate its new urban residents by the
year 2030, which accounts for almost a similar number as in China.
Africa too needs to accommodate millions of its new urban dwellers by
the year 2028. All these will require umpteen number of new pipelines
boosting the growth of the global non-metallic expansion joints market.

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The top three emerging trends driving the global non-metallic expansion
joints market according to Technavio heavy
industry research analysts are:

Increasing use of combined cycle gas turbines
Shift toward renewable sources of energy
OPEC oil production curb set to revive US fracking

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Increasing use of combined cycle gas turbines

“A simple cycle gas turbine has only one power cycle and finds
application in the oil and gas as well as aviation and power generation
industries. A simple cycle gas turbine is less efficient than a combined
cycle gas turbine. It is less expensive but costs much more to the plant
in the long run due to its low efficiency. The electricity needed to run
a simple cycle gas turbine is much more than that required for CCGT.
This has led to increased operational cost and, therefore, paved the way
for combined cycle gas turbines and its high demand,” says Gaurav
Mohindru, a lead analyst at Technavio for research on tools
and components.

Many new gas power plants in Europe and North America operate on CCGT.
It produces more power from the same amount of natural gas as used in a
simple cycle gas turbine. CCGT also finds application in the automotive
sector. More than 50% of the power generation plants in the US will
implement CCGT by 2038, up from the present rate of nearly 20%. This is
expected to lead to more natural gas production, calling for an
expansion of the natural gas pipeline system. This, in turn, will
account for the growth of the global non-metallic
expansion joints market in the future.

Shift toward renewable sources of energy

“The use of renewable sources of energy is increasing worldwide and
attaining a mainstream status. The power sector is experiencing a
transition from fossil fuels to renewables at a scale larger than any
other sector. This is brought about due to several reasons such as
increasing efficiency of renewables, growing environmental concerns,
environment security, growing demand for energy from developing
economies, better financing options,” adds Gaurav.

Both the developed and developing economies are committing to the
increasing use of renewables. The G7 and the G20 both resolved to
accelerate the access to renewable sources of energy in 2015. The United
Nations General Assembly too dedicated itself to promote the growth of
sustainable sources of energy.

OPEC oil production curb set to revive US fracking

The Organization of Petroleum Exporting Countries (OPEC) has signed an
agreement to cut production of crude oil from November 2017 onward. This
indeed is good news for the US fracking industry. Shale drillers are
taking up this opportunity for expansion seriously.

The US fracking industry will see light due to this growth and many new
idle oil wells will turn functional soon. In 2014, US fracking kept
adding to the number of barrels of oil produced per day, leading to the
price crash. Furthermore, Saudi Arabia, the largest player of the OPEC,
refused to curb oil production leading to the declining prices.

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