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Medical imaging has played an important role in the healthcare industry. The prevalence of various chronic conditions among patients has augmented the need for advanced diagnostics, paving the way for computer-aided detection services for debilitating conditions such as cancers. Due to its precise technology, computer-aided detection services are able to detect anomalies in the fledgling stages, allowing patients to undergo timely treatment and prevent further complications. Technological enhancements in the form of nanomaterials, big data analytics and 3D/4D imaging have largely simplified the entire computer-aided detection process, producing highly accurate results.

However, the onset of COVID-19 has dented growth prospects of the market. Imposition of nationwide lockdowns has generated a reduction in the number of hospital visits for preventive care, leading to a dip in medical imaging services for the detection of possible chronic malignancies. Additionally, shifting hospital priorities to care for coronavirus patients has reoriented medical imaging towards the detection of respiratory problems from other issues. However, the past two months have witnessed a flattening of the infection curve, prompting several countries to ease lockdown restrictions, thereby uplifting growth prospects of the computer aided detection services market.

Essential processes in manufacturing such as thermal spray coatings have been impacted since the end of 2019. The manufacturing sector is facing substantial supply chain disruptions. In addition, the COVID-19 outbreak has also resulted in a sharp decline in new orders. Further, the pandemic has generated concerns of a recession. These factors are expected to have a negative impact on the thermal spray coatings market in the near term.

The global thermal spray coating market has been projected to expand at a healthy 6.5% CAGR through the end of the forecast period. According to Fact.MR, end user verticals will face major challenges throughout the duration of the pandemic in terms of procuring raw materials, and keeping up supplies, thus impacting short-term demand. However, thermal spray coating applications in production of medical devices will help in partially mitigating the losses in this crisis period.

“Most businesses in the manufacturing sector have been preparing for the impact of COVID-19 on their operations. Reduced investments, low oil prices, and cash flow issues remain key concerns. The slowdown in economic activity and growing number of on-site orders will eat into the demand for thermal spray coatings in the months to come,” says the FACT.MR study.

Essential processes in manufacturing such as thermal spray coatings have been impacted since the end of 2019. The manufacturing sector is facing substantial supply chain disruptions. In addition, the COVID-19 outbreak has also resulted in a sharp decline in new orders. Further, the pandemic has generated concerns of a recession. These factors are expected to have a negative impact on the thermal spray coatings market in the near term.

The global thermal spray coating market has been projected to expand at a healthy 6.5% CAGR through the end of the forecast period. According to Fact.MR, end user verticals will face major challenges throughout the duration of the pandemic in terms of procuring raw materials, and keeping up supplies, thus impacting short-term demand. However, thermal spray coating applications in production of medical devices will help in partially mitigating the losses in this crisis period.

“Most businesses in the manufacturing sector have been preparing for the impact of COVID-19 on their operations. Reduced investments, low oil prices, and cash flow issues remain key concerns. The slowdown in economic activity and growing number of on-site orders will eat into the demand for thermal spray coatings in the months to come,” says the FACT.MR study.

The COVID-19 outbreak and the resultant regional and national lockdowns are having a major impact on advanced high strength steel producers. A number of individual production facilities have been shut down. In addition to the restrictions on manufacturing facilities, logistical disruptions are also impacting operations in the industry.

The global advanced high strength steel (AHSS) market is anticipated to grow at an impressive 8.5% CAGR through the forecast period (2020-2030). Disruptions in the production of automobiles and a halt on mining operations will hinder the market in short term. However, resumption of industrial activities towards the end of 2020 will help in a steady recovery.

“Mining industries are anticipated to go back to regular operations during the third quarter of 2020. Moreover, AHSS producers are projecting a moderate impact of the COVID-19 virus in operations. Prices have risen amidst the pandemic which may hurt end-use industries. Moreover, market players are banking on product launches to sustain market growth post the pandemic,” says the Fact.MR report.

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Advanced High Strength Steel Market- Key Takeaways

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The electrical steel market is presently witnessing a slump during the COVID-19 outbreak. Temporary closure of mining facilities, and restrictions on international trade are expected to hinder market activity in the short term. Also, the severe impact of COVID-19 on China, one of the largest steel producers will hurt the market.

The electrical steel market is expected to rise at a 8% CAGR through the projection period (2019 – 2029). Strong demand for electric vehicles in addition to infrastructural and utilities development projects will assist in the recovery of the industry once the pandemic subsides, reveals the Fact.MR report.

“The wide scope of electric steel applications in the automotive industry and high-power consumer appliances including commercial refrigerators, air conditioners, power coolers, will support the growth of the market. Consumer appliance OEMs are researching the use of electrical steel in the products to mitigate the environmental impact of regular steel. Such developments enable low energy costs with high performance, strongly driving sales once the pandemic restrictions are lifted,” says the FACT.MR analyst.

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Electrical Steel Market – Major Takeaways

Tailwinds from energy conservation laws that necessitate energy-efficient insulation is a significant factor fuelling the steady growth of the global industrial insulation market. Booming digital economies of the Asia Pacific such as India are a prime source of future growth prospects. As digitization picks up pace in developing countries, power generation applications of industrial insulation products are touted to be a lucrative segment for market players.

“Market players will witness a cascading effect in demand for industrial insulation products on the back of multiplying consumption of electricity, fuel, and petro-chemicals in developing economies,” Opines Fact.MR Analyst

Global Industrial Insulation Market- Key Takeaways

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