U.S. Heating Equipment Import Rises 2%, Averaging $116M in March 2023

U.S. Heating Equipment Import Rises 2%, Averaging $116M in March 2023

May 9th, 2023 IndexBox Leave a comment

U.S. Heating Equipment Imports

In March 2023, approximately 9.4K tons of heating equipment (except warm air furnaces) were imported into the United States; with a decrease of -19.7% on February 2023. Over the period under review, imports showed a deep contraction. The pace of growth appeared the most rapid in July 2022 when imports increased by 6.8% month-to-month.

In value terms, heating equipment imports expanded slightly to $116M (IndexBox estimates) in March 2023. In general, imports showed a pronounced decline. The most prominent rate of growth was recorded in July 2022 when imports increased by 11% month-to-month.

Imports by Country

In March 2023, China (5.9K tons) constituted the largest supplier of heating equipment to the United States, accounting for a 62% share of total imports. Moreover, heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Canada (720 tons), eightfold. The third position in this ranking was taken by Taiwan (Chinese) (361 tons), with a 3.8% share.

From March 2022 to March 2023, the average monthly growth rate of volume from China totaled -9.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Canada (-1.1% per month) and Taiwan (Chinese) (-14.3% per month).

In value terms, the largest heating equipment suppliers to the United States were Canada ($25M), China ($24M) and Germany ($18M), together comprising 58% of total imports. These countries were followed by the UK, South Korea, the Netherlands, Mexico, Italy, Japan and Taiwan (Chinese), which together accounted for a further 26%.

Japan, with a CAGR of +5.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In March 2023, the heating equipment price stood at $12,278 per ton (CIF, US), with an increase of 27% against the previous month. Over the period under review, import price indicated a pronounced expansion from March 2022 to March 2023: its price increased at an average monthly rate of +3.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, heating equipment import price decreased by -3.7% against January 2023 indices. The import price peaked at $12,749 per ton in January 2023; however, from February 2023 to March 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In March 2023, the country with the highest price was Germany ($63,706 per ton), while the price for Taiwan (Chinese) ($3,086 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Mexico (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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Impact Networking Expands Its Texas Footprint with New Office in Austin

April 21st, 2023 Tim Jay Leave a comment

Managed IT Service Provider of the Houston Astros Announces Office Opening in the State Capital of Texas

Impact Networking, a national managed service provider (MSP), announced today that it has leased office space in Austin, Texas, due to the immense popularity of its work in Houston. This sales, service, and technology showroom is expected to open May 1. It is centrally situated in the state capital of Texas to offer fast and personal service, giving clients access to experts in managed IT, cybersecurity, marketing, and more.

Founded in 1999, Impact integrates technology, expertise, and outstanding customer service to help clients solve the most pressing business problems and identify new opportunities in engaging and insightful ways, making them faster, more productive, and more secure. Specializing in managed IT, cybersecurity, digital transformation, marketing, and print services, Impact provides clients with the sustainable competitive advantages necessary for them to thrive in an increasingly digital world today, tomorrow, and for the next 10 years.

In August 2021, Impact announced its multi-year partnership with the Houston Astros as the official managed IT service provider of the MLB team. A few months later, the company announced its new office location in Texas at Midway’s much anticipated East River development in Houston, expected to open June 1.

Impact is headquartered in Lake Forest, Illinois, and currently supports thousands of organizations from 23 branches across the United States. For more information about Impact and its managed services, visit www.impactmybiz.com.

About Impact Networking

Impact Networking is a national managed service provider (MSP) that offers managed IT, cybersecurity, digital transformation, marketing, and print services to businesses of all sizes. Founded in 1999, Impact integrates technology, expertise, and outstanding customer service to help clients solve the most pressing business problems and identify new opportunities in engaging and insightful ways, making them faster, more productive, and more secure. Today, Impact employs more than 900 industry experts and supports thousands of businesses from 23 locations across the Unites States.

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United States Roofing Market Set to Reach Valuation of $39.64 Billion by 2031

April 16th, 2023 Astute Analytica Leave a comment

The US roofing market is a highly competitive industry with the top 10 players holding less than 55% of the market share. The market is expected to grow due to increasing demand for environmentally friendly roofing materials, technological advances, and the need for roofing repairs and replacements. However, challenges such as price sensitivity, regulatory changes, and economic uncertainty may impact growth opportunities in the industry.

In 2022, the United States roofing market was valued at $26.20 billion and is projected to generate a revenue of $39.64 billion by 2031.

The US is witnessing significant growth, driven by factors such as an increase in new construction activity, growth in renovation and remodeling projects, and a rise in demand for energy-efficient roofing materials. A comprehensive research analysis of Astute Analytica reveals the various aspects of the US roofing market, with a focus on key sectors such as industrial building construction, aviation, hospitality, retail, and the green roofing movement.

In 2022, the US construction industry spent $565.4 billion on private construction, including residential and commercial projects, indicating a strong demand for roofing products and services across various building types. The non-residential construction sector alone accounted for $444.6 billion of this expenditure, encompassing industrial buildings, public infrastructure, and commercial buildings like hotels and retail stores.

The aviation sector also offers potential for the roofing market, with approximately 19,622 airports in the US, of which 5,000 are under public-use. These airports require ongoing roofing maintenance and renovation to ensure safe and reliable operations, creating further opportunities for roofing companies to cater to the aviation industry’s needs.

In the hospitality sector, the average cost of a new roof installation ranges from $15,000 to $200,000, depending on the size and complexity of the building. This emphasizes the need for high-quality roofing systems within the hotel industry, which is a crucial market for roofing companies.

The retail industry’s renovation and remodeling projects in 2021 amounted to approximately $5.5 billion, with an average cost of $61 per square foot. This highlights the necessity for roofing companies to offer cost-effective and efficient roofing solutions for commercial clients in this sector. The US market for green roofs is expected to grow at a CAGR of 10.3% from 2023 to 2031, driven by the increasing demand for sustainable building practices and energy-efficient solutions. This trend is likely to influence the US market, as more clients seek out eco-friendly roofing options.

Residential Activities Contribute More than 38% Revenue to the US Roofing Market

More than 38% of the US revenue is projected to come from residential activities, with a significant portion attributed to new independent house construction, renovation of residential roofing, and building separate garages and shades. In 2021, a total of approximately 1.07 million new single-family houses were completed in the United States. Assuming an average cost of $5,000 to install a new roof on a single-family house, the revenue generated from new independent house construction in the roofing market would be around $514 million in 2021. On the other hand, the residential sector also invests heavily in renovation and remodeling projects, including roof replacements and repairs. In 2021, homeowners spent an estimated $330 billion on home improvements and repairs. Out of which over $300 million was spent on roofing.

Additionally, building separate garages and shades contributes to the demand for residential roofing services. In the United States, it is estimated that 63% of households have a garage or carport. With the average cost of constructing a detached garage ranging between $35,000 and $60,000, a portion of this expenditure goes towards roofing. Around 10% of the garage construction cost is allocated to roofing, and 5% of households with a garage built or renovated one in 2021.

Considering that residential activities account for more than 38% of the US market revenue, it is crucial for roofing companies to focus on the unique needs and preferences of homeowners, offering cost-effective and efficient solutions for new construction, renovation, and additional structures like garages and shades.

Exploring the Future of the US Roofing Market: Opportunities and Challenges Ahead

Opportunity:

Green Roofing Segment: The demand for environmentally friendly roofing materials is increasing due to growing awareness of sustainability. Companies can capitalize on this opportunity by offering innovative, eco-friendly roofing solutions.

Challenges:

Highly Competitive Market: The roofing market in the US is highly competitive, with many players vying for market share. This makes it challenging for companies to stand out and gain a foothold in the market.
Price Sensitivity: Many customers in the market are cost-sensitive, making it difficult for companies to compete solely on price while maintaining profitability.
Regulatory Changes: Regulations regarding roofing materials and installation practices can change, leading to additional costs for companies that must adjust their product lines and practices.

Dominance of PVC and SPF in the US Roofing Market to Generate More Than 45% Revenue

Polyvinyl Chloride (PVC) and Spray Polyurethane Foam (SPF) have emerged as the most popular materials used in roofing across the United States. According to Astute Analytica, these two materials accounted for more than 45% of the market share, with SPF dominating the market with over 24% revenue share, followed by PVC with over 21% market share.

SPF has become a preferred choice for many residential, commercial, and industrial roofing projects due to its unique properties and benefits. The dominance of SPF in the roofing market can be attributed to factors such as energy efficiency, seamless and waterproof nature, and durability and longevity. SPF provides exceptional insulation and energy-saving properties, which can help reduce heating and cooling costs in buildings. This energy efficiency appeals to both homeowners and businesses looking to minimize their energy consumption and related expenses. Moreover, SPF forms a seamless, waterproof barrier when applied, reducing the risk of leaks and water damage. This characteristic makes it an ideal choice for roofing in areas prone to heavy rainfall or extreme weather conditions. Furthermore, SPF roofing systems offer a long lifespan, often lasting for over 30 years with proper maintenance, making it a durable and cost-effective roofing solution.

PVC roofing has also gained significant market share in the US due to its various advantages. PVC offers excellent resistance to harsh weather conditions, chemicals, and fire, making it a suitable option for commercial and industrial applications. Additionally, PVC roofing is known for its durability and low maintenance requirements, which contribute to its overall appeal. Its reflective properties help reduce the heat absorbed by the building, lowering energy costs associated with cooling. As a result, PVC has become a strong contender in the roofing market, capturing over 21% of the market share.

Competitive Landscape: Top 11 Players Hold Less than 55% Revenue Share, 3M Company Dominates the Market

The roofing market in the US is highly competitive, with the top 11 players holding less than 55% of the market share. This indicates a fragmented market with many players competing for business. 3M has established itself as a market leader, but still only holds less than 10% of the market share, which leaves significant room for growth. Other players in the market are Atlas Roofing Corporation, BASF SE, Berkshire Hathaway Inc., Carlisle Companies Inc., Certain Teed Corporation, DoW Chemical Company, Dupont de Nemours Company, Duro-Last Inc., GAF, and IKO Industries Ltd.

In such a competitive market, companies must differentiate themselves through product innovation, quality, pricing, and distribution channels. Companies must also be aware of regulatory changes that could impact their business and be prepared to adjust their product offerings accordingly. Additionally, economic uncertainty can impact the demand for roofing products and affect companies’ sales and profitability.

To remain competitive in the US roofing market, companies must focus on staying ahead of industry trends, investing in research and development, and expanding their product portfolios to cater to the needs of different customer segments. Building a strong distribution network and brand reputation is also crucial to winning and retaining customers in this market.

Some of the Top Market Players Are:

3M Company
Atlas Roofing Corporation
BASF SE
Berkshire Hathaway Inc.
Carlisle Companies Inc.
Certain Teed Corporation
DoW Chemical Company
Dupont de Nemours Company
Duro-Last Inc.
GAF
IKO Industries Ltd

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In the United States, The Need for Automated Test Equipment is Propelling the Growth of Rising Sales of Electric Vehicles and Connected Devices

March 1st, 2023 Future Market Insights Leave a comment

The automated test equipment market is anticipated to thrive at a CAGR of 9.8% between 2023 and 2033. The market is anticipated to cross a market share of US$ 23.76 billion by 2033 while it is valued at US$ 9.33 billion in 2023.

The growing manufacturing and corporate spaces adopting ioT systems are thriving the demand for automated test equipment. The demand for cost and time-reducing elements in the market is expected to play a vital role in the growth of the automated test equipment market.

Advanced machinery that works on high-speed networks and is autonomous is also adopting faster testing measures such as automated test equipment. The growth is attributed to the expanding component markets like cloud computing, AI, and machine learning

The growth of new connected devices along with higher penetration of 5G networks are fueling people to adopt IoT services. Hence, it fuels the demand for automated test equipment.

Advanced device manufacturing units functioning with high-end research have flourished in the automated test equipment market.

Lower cost and time-saving prospects delivered by these ATE units are helping the manufacturing units.

Expanding automotive industry fuels the demand for vehicle testing systems that automate machinery systems. The growth of healthcare wearables has also fueled the demand for ATE units as it freshly trends in the market.

Key Points

The United States market is attributed to the flourishing industrial growth along with the rapid digitization and addition of IoT devices in the manufacturing hubs. The extended research and development programs have also fueled the growth of the regional market.
China automated test equipment market is also a crucial market. The regional growth is attributed to the higher sales of connected devices across the verticals such as healthcare, automotive, and education.
Europe with hyper-digitized cities is adopting IoT and implementing it in almost every sector that fuels the demand for automated test equipment for better deployment.
The linear and discrete segment is likely to thrive in the type of category due to faster and better testing. It is expected to hold a value of US$ 2.5 billion by 2032.
The ICT industry segment tops the application category it holds a 25% share of the global market in 2023. The growth of this is fueled by the extra consumption and higher penetration of computing devices.

Competitive Landscape

The key competitors focus on building reliable, faster, cost-reducing technology for the end-users. Key competitors also merge, acquire, and collaborate with other companies to increase the network range, connectivity, supply chain, and distribution channel. The key players in the market are: Teradyne, National Instruments, Chroma ATE, Astronics Corporation, Star Technologies, Roos Instruments, Marvin Test Solutions, Cohu, Advantest Corporation, and OMRON Corporation.

Recent Market Developments

Advantest Corporation has added a new E5620 DR-SEM for the review and classification of ultra-small photomask defects. The product comes with high accuracy, high-throughput defect sensing, etc.
OMRON Corporation has introduced its IC test system and handler, semiconductor wafer test system, and general and in-circuit tester.

Archives, Global Trade Daily, Market insight

U.S. Cocoa Butter Price Bottoms at $4,511 per Ton

January 31st, 2023 IndexBox Leave a comment

U.S. Cocoa Butter Import Price per Ton July 2022

In July 2022, the cocoa butter price per ton stood at $4,511, dropping by -5.2% against the previous month. Over the period under review, the import price recorded a slight decline. The growth pace was the most rapid in February 2022 when the average import price increased by 4% month-to-month. As a result, import price attained the peak level of $4,970 per ton. From March 2022 to July 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In July 2022, the highest price was recorded for prices from Brazil ($4,793 per ton) and Canada ($4,760 per ton), while the price for Ghana ($4,172 per ton) and Peru ($4,236 per ton) were amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was attained by India (+1.0%), while the prices for the other major suppliers experienced a decline.

U.S. Cocoa Butter Imports

In July 2022, approximately 11K tons of cocoa butter were imported into the United States; with a decrease of -14.6% on the previous month. Overall, total imports indicated moderate growth from January 2022 to July 2022: its volume increased at an average monthly rate of +3.5% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, imports increased by +79.6% against February 2022 indices. The most prominent rate of growth was recorded in March 2022 with an increase of 52% against the previous month. Imports peaked at 12K tons in June 2022, and then reduced in the following month.

In value terms, cocoa butter imports contracted notably to $48M (IndexBox estimates) in July 2022. Over the period under review, total imports indicated a moderate increase from January 2022 to July 2022: its value increased at an average monthly rate of +2.5% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, imports decreased by -19.0% against June 2022 indices. The growth pace was the most rapid in March 2022 with an increase of 50% m-o-m. Imports peaked at $59M in June 2022, and then declined rapidly in the following month.

U.S. Cocoa Butter Imports by Country

Malaysia (4.2K tons), Indonesia (2.6K tons) and Ghana (780 tons) were the main suppliers of cocoa butter imports to the United States, with a combined 72% share of total imports.

From January 2022 to July 2022, the biggest increases were in Malaysia (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($18M), Indonesia ($12M) and Ghana ($3.3M) appeared to be the largest cocoa butter suppliers to the United States, together comprising 70% of total imports.

Among the main suppliers, Malaysia, with a CAGR of +21.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: https://www.indexbox.io/blog/cocoa-butter-price-per-ton-july-2022/

Archives, Global Trade Daily, Market insight

Spark Plug Price in U.S. Drops 32% to $0.5 per unit

January 16th, 2023 IndexBox Leave a comment

U.S. Spark Plug Import Price August 2022

In August 2022, the average spark plug price amounted to $0.5 per unit, with a decrease of -32.3% against the previous month. Over the period under review, the import price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in July 2022 when the average import price increased by 57% month-to-month. As a result, import price attained the peak level of $0.7 per unit, and then fell significantly in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($2.1 per unit), while the price for the Czech Republic (less than $0.1 per unit) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Spark Plug Imports

In August 2022, approximately 102M units of sparking plugs were imported into the United States; with an increase of 38% on the previous month. In general, total imports indicated a remarkable increase from January 2022 to August 2022: its volume increased at an average monthly rate of +5.4% over the last seven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, imports decreased by -22.4% against April 2022 indices. The growth pace was the most rapid in February 2022 with an increase of 54% m-o-m. Over the period under review, imports hit record highs at 131M units in April 2022; however, from May 2022 to August 2022, imports remained at a lower figure.

In value terms, spark plug imports dropped to $46M (IndexBox estimates) in August 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 when imports increased by 48% month-to-month. As a result, imports reached the peak of $59M. From April 2022 to August 2022, the growth of imports remained at a lower figure.

U.S. Spark Plug Imports by Country

In August 2022, Russia (47M units) constituted the largest supplier of spark plug to the United States, with a 46% share of total imports. Moreover, spark plug imports from Russia exceeded the figures recorded by the second-largest supplier, Japan (21M units), twofold. the Czech Republic (15M units) ranked third in terms of total imports with a 15% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of volume from Russia totaled +7.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+2.4% per month) and the Czech Republic (+17.2% per month).

In value terms, Japan ($21M) constituted the largest supplier of spark plug to the United States, comprising 45% of total imports. The second position in the ranking was held by Mexico ($8.3M), with an 18% share of total imports. It was followed by Thailand, with a 12% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of value from Japan stood at -2.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-0.5% per month) and Thailand (+8.9% per month).

Source: https://www.indexbox.io/blog/spark-plug-price-august-2022/

U.S. Heating Equipment Import Rises 2%, Averaging $116M in March 2023

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