What is the Potential of the India Edible Oil Market: Ken Research


India is the second most populous country in the world housing more than 15% population creating a huge consumer base. Post liberalization and deregulation of license based market in 1991, has led to healthy growth in economy. Many new foreign companies as well as domestic companies have expanded their business in the edible oil segment to cater the larger population in the country. India consumes an estimated ~ million tons of oil in FY’2017 of which majority (~%) of the oil was imported. India consumes an estimated ~ million tons of oil in FY’2017 of which majority (~%) of the oil was imported. Palm oil is the most consumed oil in India but is almost entirely imported from Malaysia and Indonesia. Even though imports dominate the market production of edible oil domestically has declined over the years from ~ MMT in FY’2012 to ~ in FY’2017.

In India majority of the edible oil is imported, both refined and crude edible oil is imported which is then processed and packaged before being sold in the market. The change in taste and preference of the consumers because of the quest for low fat and low absorb oil has led several oil such as Soybean oil, sunflower oil and safflower oil to make an entry into the Indian kitchen. India edible oil market increased from ~ MMT in FY’2012 to ~ MMT in FY’2017 registering a five year CAGR of ~%. It is expected that future demand for edible oil will register a constant increase. The market will increase from ~ million metric tons in FY’2018 to ~ million metric tons in FY’2022. Entry of new players such as Mahindra, Cofco, Patanjali will further boost the market. Share players in the organized sector will increase as demand for packaged edible oil increases.

India Palm Oil Market Market Size

Palm oil is the leading oil consumed in India with majority of it being imported. The revenue generated from sale of palm oil in India was estimated at INR ~ billion in FY’2017 registering a decline due to fall in imports. Consumption in terms of volume was estimated at ~ million tons. Domestic production of palm oil registered constant increase in demand registering a five year CAGR of ~% between FY’2012 to FY’2017. Andhra Pradesh was the leading state in terms of production of crude palm oil in India.

Northern regions of the country are the major consumers of palm oil, which has accounted for a sizeable share of ~% Eastern region of the country are the third largest palm oil consumers, which has commanded consumption share of ~% in terms of volume during FY’2017. Western regions have a comparatively lower consumption share of ~% only.

Organized sector constituted majority of the sales accounting for ~% (~ thousand tons) of the total sales by volume in palm oil segment. Unorganized sector captured market share of ~% with an estimated sales volume of ~ thousand tons.

India Soybean Oil Market Market Size

Market for Soybean oil increased from INR ~ billion in FY’2015 to INR ~ billion in FY 2017. Growth in demand for soybean oil was on account of reduced demand for palm oil due higher increase in its prices. Its consumption has increased from ~ MMT in FY’2012 to ~ MMT in FY’2017. Domestic production during the same period declined from ~ MMT to ~ MMT. Decline in production was mainly due to fall of prices in the international market making domestic production less attractive.

 

Source: https://www.kenresearch.com/food-beverage-and-tobacco/general-food/india-edible-oil-market-2022/130172-11.html

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Ken Research
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https://www.kenresearch.com/blog/2017/08/potential-india-edible-oil-market-ken-research/

Increasing Demand for Flat and Long Steel Products Owning to Growth in UAE Construction Sector is Driving Demand for Steel Pipes and Rebars in the UAE: Ken Research


Steel consumption in the UAE has witnessed a tremendous growth supported by rising construction activities, increasing government and private investment spending, thus collectively generating high demand for steel rebars in the UAE.

The report titled “UAE Steel Pipes and Rebars Market Outlook to 2021 – Growing Demand for Flat and Long Steel Products to Drive Future Growth” by Ken Research suggested a five year positive CAGR in sales volume for steel pipes and revenues for steel rebars in the UAE for the projected period 2017-2021.

Fast expanding construction and infrastructure sector in the UAE has led to increase in production and consumption of both flat and long steel products including steel rebars, coils, strips and sheets and plates. Ongoing projects in the UAE, especially the projects related to infrastructure development to host the World Expo 2020 in Dubai are going to increase in demand for flat and long steel products. Steel Rebar is a key construction commodity, which has sailed through many price corrections. Moreover, UAE is a large market for international steel pipes which was evident from the fact that steel pipes market in UAE including seamless, SAW and LSAW pipes is highly import driven, thus resulting into less presence of manufacturing units in the country. Domestic manufacturing of ERW pipes is the major source of revenue for steel pipes market in the UAE.

In order to ensure that every emirate region has a suitable and adequate housing, Abu Dhabi government provides a wide range of choices in housing and funding such as house and land allocation, housing loans, construction loans and others which further boosts the demand for steel rebars in the country. Revenues in UAE steel rebars market constitutes selling steel rebar units majorly in oil and gas, construction, manufacturing and other sectors.

Major companies such as Universal Tube and Plastic Ind. Co, Conares, Ajmal Steel Tubes and Pipes Industries LLC, KD Industries Inc, Tiger Steel Industries LLC, ADPICO, Global Steel Industries, Excel Group of Companies, UAE Emirates Steel, Hamriah Steel and Union and Iron Steel Company for steel pipes and rebars are maintaining quality standards owning to specific ISO certifications and API quality standards.

Key Topics Covered in the Report:

Steel Pipe Tube Supplier Uae

Universal Tube and Plastic Market Share

Uae Seamless Steel Pipe Industry

Steel Pipe Suppliers in Uae

Uae Rebars Market

Imports Steel Rebars Uae

Uae Rebars Manufacturers

Uae Steel Pipe Manufacturers

For further reading click on the link below:

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/uae-steel-pipes-rebars-market/131705-97.html

Related Reports by Ken Research

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/saudi-arabia-steel-pipes-rebars-market/130124-97.html

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/uk-reinforced-thermoplastic-pipes-rtp/128360-97.html

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

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+91-124-4230204

https://www.kenresearch.com/blog/2017/08/uae-construction-sector-driving-demand-steel-pipes-rebars-uae-ken-research/

Africa Stands on Dominating Position in Global Diamond Industry: Ken Research


World’s diamond supply is expected to remain stagnant over the next few decades with the increases in demand. Diamond mines are extremely rare and the supply for diamonds is in high demand. Canada produces and markets high quality diamonds in the world. It was observed that the diamond production decreased with the growing years. Alrosa, De Beers SA, Rio Tinto Plc, Dominion Diamond Corporation and Petra Diamonds Ltd. are the global largest popular diamond miners. Few other major diamond producing mines are The Argyle, Orapa, Jwaneng, Diavik, Catoca and Nyurbinskaya other than the world’s largest diamond mining companies. These miners produced above 150 million carats of rough diamonds in a year. The rough diamonds are sent through the so-called diamond pipeline. The produce a diamond, the rough diamond undergoes various processes. The chain runs from dealers to diamond cutters, polishers, to jewellery manufacturers, to retail stores, and finally to consumers.

According to the research report “Global Diamond Mining to 2020”, it is expected that the demand for diamonds is expected to grow worldwide, with the decline in the diamonds supply over the coming years. Gahcho Kué, is the largest new diamond mine in Canada that will produce up to 6 million carats annually by the year 2020. Russia, Botswana, the Democratic Republic of the Congo (DRC), Australia, Canada, Zimbabwe, Angola and South Africa are the top eight rough diamond production centres. These countries account for the 97% of the global diamonds production. The world’s largest diamond mining companies account for 70% of the global diamond production.

Rough diamonds are usually found in kimberlite, lamproite and alluvial deposits. The Botswana’s Orapa region and in South Africa has the world’s largest kimberlite reserves and the Atlantic coasts of South Africa and Namibia possess alluvial deposits. The lamproite deposits are found in the Australian Argyle mine in Kimberley region. The expansion of global diamond mining operations mainly focuses on the accessibility of diamond deposits and the depth of occurrence of the rough diamond deposits which are increasing challenges in the diamond mining market.

Global Diamond Mining to 2020, report includes global reserves of diamonds, global rough diamond processing, and diamond trade in the next few decades. The diamond mining project are becoming more capital intensive, necessitating substantial investments, especially in the field of technology. The actively operating diamond mines in the world are in Asia-Pacific (APAC), Oceania, Middle East and Africa (MEA), Americas and Former Soviet Union (FSU). There are various factors affecting the global diamond industry are demand for diamonds, reserves, historic and forecast production, major exporting and importing countries, active, exploration and development projects and the competitive landscape.

SSA (Sub-Saharan African) countries will continue to dominate global diamond production, supported by operating costs and strong projects in the pipeline. The diamond production growth is majorly driven by African countries even though Russia is the world’s largest diamond producer in the world. The top diamond producers in South Africa are Congo- Brazzaville, Ghana, Guinea, Guyana, Lesotho or Sierra Leone.  African miners benefit a lot due to competitively low operating costs and solid project pipelines. Foreign miners look forward to invest in mines that have already yielded sizeable diamond recoveries.

The production cost is all set to increase with the increasing transparency and ensuring responsibly sourced diamonds. With the younger generation more attracted to the diamonds and with more consumer spending limit there is a growth in the diamond market along with supported production. As the supply of diamonds slows down in the next few years the price is expected to remain stagnant. However, if global production continues to increase with the demand then the oversupply will lower the diamond prices. The SSA countries are highly depended on diamond revenue; therefore, the diamond producers are more exposed to price fluctuations.

Key Topics Covered in the Report:

Global Diamond Reserves by Country

Global Diamond Mining Reserves by Selected Operating Mines

Global Diamond Industry research

Diamond demand in North America

Europe Diamond market demand analysis

Global Precious metals market analysis

Global mining equipment market research

Diamond Market projections analysis

South Africa Diamond sector analysis

Russia Diamond jewellery market

US diamond jewellery market research

Asia Pacific Diamond jewellery market

To know more, click on the link below:

https://www.kenresearch.com/metal-mining-and-chemicals/mining/global-diamond-mining/70766-101.html

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Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

https://www.kenresearch.com/blog/2017/08/africa-stands-dominating-position-global-diamond-industry-ken-research/

UAE Steel Pipes and Rebars Market Outlook to 2021: Ken Research


The report titled “UAE Steel Pipes and Rebars Market Outlook to 2021 – Growing Demand for Flat and Long Steel Products to Drive Future Growth” provides a comprehensive analysis of steel pipes and rebars in the UAE. The report focuses on overall market size for steel pipes and rebars sold in the UAE, market segmentation of steel pipes by type of steel pipes (ERW, seamless, SAW and LSAW), by diameter of ERW pipes (0.25-6.0 inches and 8.0-12.0 inches), by sectoral demand for seamless pipes (construction and oil and gas), by sectoral demand for ERW pipes (construction, oil and gas and others), by regional demand (Dubai, Abu Dhabi, Ajman, Sharjah and others); market segmentation of steel rebars by trade (domestic demand and imports), by sectoral demand (construction, oil and gas, manufacturing and others) and by regional demand (Abu Dhabi, Dubai and other emirates).

The report also covers company profile of major players, competition scenario; import scenario for steel rebars; decision making process, government regulations; growth drivers and trends and issues and challenges. The report concludes with SWOT analysis and market projection for future highlighting the major opportunities and cautions.

Market Size for Steel Pipes and Rebars in UAE

UAE steel pipes market produced ~ million tonnes of steel pipes in 2011 exhibiting a five year CAGR of ~% from 2011 to 2016. The market for sales witnessed a positive trend in the country as the sales volume increased to ~ million tonnes of steel pipes in 2016 majorly used in construction sector, oil and gas sector and others.

On the other hand, steel rebars market in the UAE generated revenues worth USD ~ million 2011, which grew to USD ~ million, thus selling ~ million tonnes worth steel rebars in 2016 which is evident from five year CAGR of ~% from 2011 to 2016. Increase in usage of steel rebars is displayed through rising construction activities, increasing government and private investment spending, thus collectively generating high demand for steel rebars in the UAE.

UAE Steel Pipes Market Segmentation

By Type of Steel Pipes

The ERW pipes segment dominated the steel pipes market with revenue share of ~% in 2016 owning to high demand of galvanized coated pipes and its various applications like fencing, line pipe and scaffolding in water pipelines, agriculture and irrigation (water mains, industrial water pipe lines, plant piping, deep tube wells, casting pipes and sewerage piping); gas pipelines and LPG and other non-toxic gases. Whereas, seamless pipes, SAW pipes and LSAW pipes segment were witnessed to generate ~%, ~% and ~% revenue shares respectively in UAE steel pipes market in 2016.

By Diameter of ERW Pipes

Based on diameter of ERW pipes, steel pipes market in UAE was classified into 0.25 inches to 6.0 inches and 6.0 inches to 12.0 inches. ERW pipes with 0.25 inches to 6.0 inches diameter dominated the market by capturing ~% of total sales volume in 2016 Whereas, ERW steel pipes with diameter between 6.0 inches to 12.0 inches followed the market with ~% of total sales volume in 2016.

By Sectoral Demand for Seamless Pipes

Low cost coupled with high yield strength and better stress corrosion resistances are some of the major factors responsible for high demand of seamless pipes in the construction sector. On the other hand, demand for seamless pipes from oil and gas sector was able to capture ~% revenue share in UAE steel pipes market in 2016.

UAE Steel Rebars Market Segmentation

By Sectoral Demand

The construction sector dominated UAE steel rebars market with revenue share of ~% in 2016. Increasing construction activities and advancement of construction technologies are some of the major factors, driving the demand for steel rebars in the UAE. Oil and gas sector followed with revenue share of ~% of the total sales volume whereas, manufacturing and other sectors captured the remaining ~% revenue share in UAE steel rebars market in 2016.

By Regional Demand

Abu Dhabi region dominated the UAE steel rebars market with revenue share of ~% in 2016 owning to rising construction projects in the residential sector. Initiatives taken by the government to protect the local steel manufacturing sector led to increase in number of mega projects and infrastructures in Abu Dhabi. Dubai followed with revenue share of ~% of the total sales volume whereas; other emirates such as Ajman, Fujairah, Sharjah, Ras al-Khaima and Umm al- Quwain captured the remaining ~% revenue share in 2016.

Competition Scenario in UAE Steel Pipes and Rebars Market

UAE steel pipes and rebars market is highly concentrated with the presence of major players such as Universal Pipes, Conares Pipes, Ajmal, KD Industries, Tiger Steel, ADPICO, Global Steel Industries, Excel Group of Companies, UAE Emirates Steel, Hamriah Steel and Union Iron and Steel Company. The construction and infrastructure boom in the country in the past decade majorly contributed to the rapid growth of steel pipes and rebars in the industry which led to emergence of several companies in this sector. These companies are facing immense unfair competition from Chinese suppliers.

Future Outlook to UAE Steel Pipes and Rebars Market

Over the forecast period, UAE steel pipes market will prepare itself to meet the future demand expected from substantial investment proposed in key areas such as construction, oil and gas, agriculture, manufacturing and others. With increase in residential and commercial complexes in the UAE, the complexes have to comply with the latest government regulations on fire safety and security through water treatment equipment, which is expected increase the demand for ERW pipes in the country. Infrastructure sector is also expected to generate massive demand for the industry owning to increasing projects such as construction of dams, power projects, railways, bridges and others which involve a huge quantity of pipes. Apart from the announcement of major landmark projects; the improved efficiency of supply chain ecosystem in the industry, the capacity and technologies in place to cater to the requirement, and facilitating the adoption of latest innovations in production have also played a key role to signal a boom in the steel industry. Steel pipes market in the UAE is expected to sell ~ thousand tonnes worth steel pipes by 2021, thus growing at a CAGR of ~% for the projected period of four years from 2017 to 2021.

Key Topics Covered in the Report:

UAE Steel Pipes and Rebars Market Overview and Genesis

Value Chain Analysis of UAE Steel Pipes and Rebars Market

UAE Steel Pipes Market

UAE Steel Rebars Market

Decision Making Process adopted by Customers before purchasing Steel Pipes and Rebars in UAE

Growth Drivers and Trends in UAE Steel Pipes and Rebars Market

Issues and Challenges in UAE Steel Pipes and Rebars Market

Government Regulations in UAE Steel Pipes and Rebars Market

SWOT Analysis in UAE Steel Pipes and Rebars Market

Future Outlook and Projections for UAE Steel Pipes and Rebars Market

Macroeconomic Factors affecting UAE Steel Pipes and Rebars Market

For further reading click on the link below:

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/uae-steel-pipes-rebars-market/131705-97.html

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https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/saudi-arabia-steel-pipes-rebars-market/130124-97.html

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Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

https://www.kenresearch.com/blog/2017/08/uae-steel-pipes-rebars-market-outlook-2021-ken-research/

Rise in Urbanization, Growth in Organized Sector and Out-of-Home Eating to Drive the Market for Edible Oil in India: Ken Research


  • Edible Oil Market is expected to move towards organized sector where producers will be held liable for quality of his products.
  • Demand for packaged edible oil is expected to increase as it is convenient to store and is available in variety of packaging sizes.
  • Regional oil will continue their dominance in the market but prices will play a key role in retaining the customer to particular oil as his or her first choice.
  • Increased productivity and support from government in form of better MSP, technical education, creating infrastructure and framing favorable policies will boost the domestic production.

Edible oil market growth is mainly driven by increased demand for out-of-home consumption and rising population especially in urban areas. Share of organized sector is expected to register a double digit growth rate registering significant increase in market penetration and better availability of package oil in all sizes. Manufacturing of customized oil which is generally sold at premium will gain market share as awareness about their availability increases. Entry of new players such as Mahindra, Cofco, and Patanjali will further boost the market. Even though per capita consumption is highest in western region volume demand will remain maximum in northern part due to large concentration of population.
Demand for healthy oils is on rise which is evident from the fact that rice bran oil, sunflower oil, olive oil and their blends have gained popularity in the market. Oil targeting specific set of population was also launched to attract customers and get the first mover advantage. Urban cities account for majority of the demand for packaged healthy and branded blended oils and the trend will continue in the future with tier 3 cities also joining the league. Penetration of packaged oil is on improvement as distribution improves ensuring that all type of oil is available in all sizes based on demand. Increased habit of eating out has driven the demand for large size packages and cheaper edible oil and the trend is expected to continue in the future.
According to analysts at Ken Research, increased import duty of refined oil will increase the utilization rate of Indian refineries and ban on selling edible oil in open will help in checking the adulteration. Creating consumer awareness about new product and helping them to select the right oil will further help the companies to boost their revenue and gain the goodwill about the brand. Government can continue to support farmers through MSP and better training and forecasts about the weather.
Ken Research in its latest study titled “India Edible Oil Market Outlook to 2022 – Growth in Organized Sector and Out-of-Home Eating Trend to Drive Future Demand expected that future demand for edible oil will increase from 25.6 million metric tons in FY’2018 to 32.4 million metric tons in FY’2022.
Key Products in the Report

Palm Oil, Soybean Oil, Mustard Oil, Sunflower Oil, Groundnut Oil, Olive Oil, Rice Bran Oil, Coconut oil, Cotton seed oil

Key Market Players in the Report

Cargill, Ruchi Soya, Adani Wilmar, Marico, Sundrop, Kaleesuwari, Emami, Borges

Related Reports

India Spice and Spice Mixes Market Outlook to 2020 – Rise in Exports and Initiation of Spice Parks to Shape Future Growth
India Dairy Products Industry Outlook to 2019 – Dominating Branded Players and Rising Milk Availability to Foster Growth
India Sugar Market Outlook to 2020 – Rising Sugarcane Availability and Government Initiatives to Shape Future
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

https://www.kenresearch.com/blog/2017/08/rise-urbanization-growth-organized-sector-home-eating-drive-market-edible-oil-india-ken-research/

South African Non-Life Insurance Sector Expected To Improve: Ken Research


The non-life insurance segment in South Africa has registered itself to be resilient in some past years. There had been a downward pricing pressure in non-life insurance, due to sluggish economic conditions in the country. However, from 2009 to 2016, there has been an enormous growth in the sector of non-life insurance in South Africa.

According to the report, “Non-Life Insurance in South Africa, Key Trends and Opportunities to 2020”, the large domestic financial services provided in South Africa are used to dominate the non-life insurance segment companies. There has been around 40% of total premiums being accounted by Mutual & Federal, Santam and Zurich local operators in non-life insurance segment in South Africa. Momentum Group and Outsurance, represents First Rand Group and non-life subsidies is exhibited by Absa. Health Insurance, metropolitan and Holland are the main focus of many substantial private independent companies in South Africa.

In 2010, an important merger of metropolitan and momentum took place, which was a key factor for development of the insurance sector. Nowadays, in the retail market, metropolitan mainly focus on low and middle-income consumers and high income consumers are managed by momentum through concentrating their activities.

Alexander Forbes has prolonged to be a broker of short-term insurance which provides various risk management solutions. The insurers may be affected by the downturn was Guard risk. The leading provider of captive cell solution for client is Guard risk. Before the slowdown, South Africa has ensured that their balance sheet has been in good shape. For the major players in the market of non-life insurance, the coming years will be challenging. Economic growth will be fairly flat and premium growth of domestic insurance industry will be no low than the normal growth of the economy. For personal and commercial line business, the market is anticipated to be soft and the recovery will take place but at slow pace.

The reason behind the fall in non-life insurance penetration is the low level of disposable income of an individual household which makes an earning pressure on business in the short term; a strong resume has boosted consumer’s confidence regarding the insurance policy. Non-financial alternatives are the competition of insurance products.

The non-life insurance sector is mature now and numerous niches are growing rapidly mainly in relation with GDP per capita. The trade association for the non-life insurers, South Africa Insurance Association (SAIA) has emphasized the need to reduce the numerous deaths on road. In future years, the non-life insurance sector will grow as people tend to purchase more vehicles in future.

Key Topics Covered in the Report

Global Non Life Insurance Industry Research

South Africa Non Life Insurance Market Research Report

South Africa Non Life Insurance Upcoming Trends

South Africa Primary Non Life Insurance Industry Analysis

South Africa Insurance Sector Growth Opportunities

South Africa General Insurance Market Demand

South Africa Non Life Insurance Policy Developments

South Africa Non Life Insurance Market Share

South Africa Life Insurance Industry Future Outlook

South Africa Non Life Insurance Industry Overview

South Africa Non Life Insurance Sector Growth Potential

To know more about the research report:

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/non-life-insurance-south-africa-key-trends/111700-93.html

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Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

https://www.kenresearch.com/blog/2017/08/south-african-non-life-insurance-sector-expected-improve-ken-research/

Rising Demand to Assist Personal Accident Insurance in South Africa: Ken Research


A health insurance policy basically covers all essential health care like- all injuries, accidents weather they occur in workplace, while travelling or at home. Other benefits depend on the type of health insurance policy one takes. Also premium services and benefits are provided if paid more for services.

Due to rises in medical costs day by day, people go for health and personal accident insurance policy and many companies provide innovative and diverse schemes that are affordable enough by the people. Some people take a limited coverage for major and serious conditions that may happen in future. Some insurance policy covers a major percentage of the claim and the remaining is paid by the consumer or policyholder.

Discovery Health has prolonged to be the largest medical insurer in South Africa with about 1.5 million members. It is very competitive for other players in the industry of personal accident and health insurance in South Africa.

According to the report, “Personal Accident and Health Insurance in South Africa, Key Trends and Opportunities to 2020”, South Africa healthcare industry is significantly impacted by the launch of (NHI) National Health Care Insurance in direct as well as indirect way in its personal accident and health insurance sector. In terms of total written premium, the personal accident and health insurance is a small segment in whole insurance industry of South Africa and NHI will considerably enlarge the segment.

 In 2014, with 90 insurers, the personal accident and health segment was seen to be overcrowded. Guard risk Insurance Company, Rand mutual Assurance Company Limited, Monarch Insurance Company Limited, Constantia insurance Company Limited and Holland Insurance Company Limited had been the top 5 companies which dealt with personal accident and health insurance in South Africa.

In 2015, the segment of personal accident and health insurance has been observed to account for about 4% in insurance gross written premium in South Africa. The personal accident and health insurance leading distribution channel in South Africa are the brokers. They have been the bridge between the final consumer and the insurance company. They play a vital role which helps both the party and in return brokers get commission. Before informing consumer about the insurance policy, broker needs to be fully educated regarding the policy and they need to keep themselves up to date. In 2015, the five leading companies of personal and health insurance segment in South Africa accounted for about 70.3% total gross.

In insurance industry of South Africa, personal accident and health insurance will remain and important driver as the non-insured population are insured with the launch of HIV/AIDS insurance which covers health insurance as well as life insurance companies.

The health insurance segment category has been the largest contributor of insurance industry and will continue to remain at top because of its excessive demand. Many people in South Africa have at least health insurance since every person suffers from some health problems in their old age; health insurance thus becomes a supportive hand at the crucial time.

Key Topics Covered in the Report

South Africa Personal Accident Insurance Market Research Report

South Africa Health Insurance Industry Analysis

South Africa Health and Life Insurance Market Demand

South Africa Personal Accident Insurance Policy Developments

South Africa Insurance Sector Growth Opportunities

Global Personal Accident and Health Insurance Industry Research

South Africa Personal Accident Cover and Insurance Market Size

South Africa Health Insurance Upcoming Trends

South Africa Non-Life Insurance Sector Growth Potential

South Africa Life Insurance Industry Future Outlook

South Africa General Insurance Industry

To know more about the research report:

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/personal-accident-health-insurance-south-africa-key-trends/111701-93.html

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Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

https://www.kenresearch.com/blog/2017/08/rising-demand-assist-personal-accident-insurance-south-africa-ken-research/

South African Reinsurance Sector to Triumph via Support of Affirmative Policy Developments: Ken Research


Reinsurance basically refers to the insurance bought by an insurance company from either one or more insurance companies either directly or through a broker as a means of risk management. Both, the ceding company and the reinsurer enter into a reinsurance agreement which contains the conditions, on the basis of which, the reinsurer has to pay a certain share of the claims that are incurred by the ceding company.

According to the report, “Reinsurance in South Africa, Key Trends and Opportunities to 2020”, a comprehensive analysis of the market trends is undertaken wherein drivers and challenges in the South African reinsurance segment are studied well. The South African reinsurance segment has registered a compounded annual growth rate of about 8.9% when observed starting from 2011 and ending at 2015. This report offers the values for significant market performance indicators that include- written premium, reinsurance ceded and reinsurance accepted. A proper overview of the South African economy and its demographics, along with detailed investigation of natural hazards and their impact on the South African insurance industry is provided by the report.

The South African reinsurance industry is greatly concentrated, with the leading companies reckoning for a majority share of 85.6% in the industry’s total gross written premium in 2015. Herein, non-life segment yielded a premium that accounted for about 29.3% in the reinsurance market in 2015, followed by personal accident and health segment with around 8% and the life segment registering around 4.5%.

Reinsurance market has prolonged to account for an indispensable component of the country’s risk management plans because of the frequent happenings of natural disasters. However, a decline in the severity of the natural disasters that took place in the country during the review period has further led to an excess in the available reinsurance capacity. Therefore, the reinsurers along with the government will have to adapt to several effective pricing and policies and efficient steps pertaining to various risk mitigation efforts that would ameliorate the market conditions on a whole and attract more customers to opt for reinsurance. Also, in order to remain competitive and profitable, the reinsurers have to be extremely careful while stepping up both adaptations of underwriting as well as optimal efforts to mitigate risk – through proper examination of the current practices of local authorities.

If technology that prevails in South Africa is taken in consideration, it is found that it has been robustly securing itself to be a major factor responsible for accessing new customers in new markets thereby looking up for all the possibilities of growth. In the Middle East, like many other markets, the insurers are searching for alternative distribution routes available. With the advent of latest technology, even the aggregator websites are turning into big businesses and the market for mobile apps to sell products is also developing. Compared to other African countries, South African insurance companies have been initially steady to make a move into the mobile apps space. However, it is noticed that the number of insurers moving into this area has substantially augmented and in the coming years, a positive rapid growth is anticipated. As a result, insurers are getting more involved into looking up for innovative ideas as to how they can well deploy the new technologies like artificial intelligence and machine learning in order to enjoy savings by lessening back-end overheads, tackling fraudulent claims and bringing down the headcount.

Micro-insurance is another important product that offers a significant growth potential in South Africa and a new framework for the same is anticipated to be established under the upcoming Insurance Bill, which is framed to assist the growth of this market, and highlights the groundwork for specific standards to be adequately followed. The Bill is foreseen to reduce the amount of capital required to be generally held by micro-insurance businesses and will thus, lower the regulatory norms that are required for selling such products. Favored mainly by strong cultural factors, the funeral insurance has been the most prevalent type of micro-insurance products that is currently available in South Africa. Indeed, this has accounted to be one of the country’s biggest-selling policies and possesses an enormous market perforation rate due to the fear of risk of lives to almost majority of the population. Accordingly, the global micro insurance market is all set to prosper at increasing growth rates year after year.

The population of this country, as depicted in the graph below, is persistently going to increase in the coming years as well since an increasing trend in the same can be witnessed from year 2012 to 2016 which will undoubtedly continue without any fail. With increasing levels of population, the South African reinsurance market on a whole has already proliferated really well if recent performances are compared with past performances and in the years to proceed as well, the reinsurance industry is all set to just get better with more and more people joining the customer base of this industry, thereby multiplying it every year and opening up great opportunities for growth and development of this sector.

Several reinsurance programs have been of great importance to well cover up the losses suffered by insurers, however, shrinkage in the profit margins could make them highly vulnerable and lead to marginal reinsurance purchases for protection of carriers since they adapt to the upcoming risks. Thereby, South African reinsurers, who have adapted themselves to the augmenting scales of risk with more sophisticated risk management functions, are highly likely to come out as one of the strongest competitors of the reinsurance market in the coming years.

 

To know more about the research report:

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/reinsurance-south-africa-key-trends/111702-93.html

 

Related reports:

Governance, Risk and Compliance-The Burundian Insurance Industry

Governance, Risk and Compliance-The Qatari Insurance Industry 

 

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
+91-9015378249
www.kenresearch.com

https://www.kenresearch.com/blog/2017/08/south-african-reinsurance-sector-triumph-via-support-affirmative-policy-developments-ken-research/

Increased Spending on Exploration and Production of Oil and Gas and Construction Activities is Expected to Drive the Steel Pipes and Rebars Demand in Saudi Arabia: Ken Research


Major steel manufacturing companies are ISO 3183:2012, ISO 11960:2014, ISO 11961:2008 and ISO/CD 11961; ISO 9443:1991, ISO 10353:1980, ISO 10144:1991, ISO 722:1991 and ISO 158351:2009; A53-B, A106-B and API 5L-B; ASTM A955 / A955M – 17 and ASTM A615 / A615M – 16 certified to successfully supply the final product in Saudi Arabia steel pipes and rebars market.

The report titled “Saudi Arabia Steel Pipes and Rebars Market Outlook to 2021 – Growth of Construction Sector and Oil & Gas Projects is Likely to Drive Demand” by Ken Research suggested a five year positive CAGR in sales volume of steel pipes and revenues of steel rebars in Saudi Arabia for the projected period 2017-2021.

The oil companies operating in Saudi Arabia have gained access to a wide variety of crudes with modern horizontal drilling and hydraulic fracturing techniques. Furthermore, the country has an outgrowing demand for seamless pipes and tubes which is driven by growing popularity in demand for high grade Oil Country Tubular Goods (OCTG) constituting a wide range of steel tubular products specifically seamless pipes and tubes in various sizes and lengths that are used in oil and gas exploration and production.

Saudi Arabia has an oil based economy with strong government controls over major economic activities. The country has emphasized their goals of diversification majorly due to decline in oil prices, thus forcing the government to make more drastic changes ahead of their long-run timeline. Major companies such as Arcelor Mittal Ltd, Arabian Pipes Co, National Pipes Co, Global Pipes Co, Saudi Steel Pipe Co and Welspun Corp Ltd for steel pipes; and Atteih Steel, Rajhi Steel, Al-Ittefaq Steel Products Co, Zamil Steel Construction Co Ltd and Riyadh Steel for steel rebars are maintaining quality standards owning to specific ISO certifications and API quality standards. Lastly, the steel consumption is increasing majorly due to rising construction activities, growing investment in railway, infrastructure and road projects. While the construction of infrastructure forms a large part of Saudi Arabia’s development ambitions and major projects involving high usage of steel rebars are underway.

Key Topics Covered in the Report

Lsaw Pipe Market Size

Imports Steel Rebars Saudi Arabia

Steel Tube Pipe Sectoral Demand

Arcelor Mittal Steel Pipe Revenue Ksa

Steel Pipe Suppliers in Saudi Arabia

Saudi Arabia Rebars Manufacturers

Sales Steel Pipes Market

Saudi Arabia Seamless Steel Pipe Industry

Steel Pipe Tube Supplier Ksa

Saudi Arabia Steel Pipe Manufacturers

National Pipe Revenue Mix Ksa

Flat Square Rebars Market Demand

For further reading click on the link below:

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/saudi-arabia-steel-pipes-rebars-market/130124-97.html

Related Reports by Ken Research

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/united-states-reinforced-thermoplastic-pipes-rtp/128377-97.html

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/uk-reinforced-thermoplastic-pipes-rtp/128360-97.html

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

https://www.kenresearch.com/blog/2017/08/steel-pipes-rebars-demand-saudi-arabia-ken-research/

Life Insurance Sector to Evolve Soon in South Africa with Ameliorating Economy: Ken Research


Life Insurance in South Africa includes written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions. The life insurance operating in the South Africa includes details of insurance regulations, and recent changes in the regulatory structure. Life insurances account for more than a three fourth of the South African insurance gross written premiums.

South Africa population are aware about the life insurance programs available. There are ten leading insurance companies offering written premiums in South Africa. The life insurance schemes are available at the preferred distribution channels such as brokers, agencies and bancassurance. With the unemployment rate significantly high in South Africa the trend in the life insurance is declining. The majority of the premiums in South Africa gave up the non-life segment. The personal accident and health segment are the majorly covered premiums in South Africa. An excess reinsurance capacity was observed with the reduced severity of the natural disasters. Reinsurance is an integral component of South Africa risk management plans applicable to the frequent natural disasters.

According to the NATIONAL Insurance Commission (NAICOM) in South Africa there are twelve leading insurance companies such as Great Nigeria Insurance Plc’s, Insurance Resourcery Consultancy Services Limited (IRCSL), an Ivoirien insurer, Sunu Assurances Vie Cote d’Ivoire, Equity Assurance, Cornerstone Insurance, UNIC Insurance Plc, Liberty Chief Executive, Thabo Dloti, Standard Alliance Insurance Plc, and others such as Axa, Prudential, Liberty, Swiss RE, Sunu Group, Saham.

According to the report, “Life Insurance in South Africa, Key Trends and Opportunities to 2020”, South Africa’s top six insurance companies are Metropolitan, Discovery, Old Mutual, Liberty, Momentum and Sanlam. Metropolitan Life’s products are more satisfying insurance schemes in South Africa. It was observed that there is a consistent development in the service quality of companies such as Metropolitan and Old Mutual. Discovery fell short in both quality and value, thus leading to unsuccessful business. Metropolitan enjoys the highest customer loyalty score equal to the Momentum’s loyalty score. Old Mutual, Sanlam, Liberty and Discovery are on the same page with customer loyalty score.

With the current economic situation in South Africa, it is predicted that there has been an increase in policy cancellations. Life and pensions schemes are prominent to lead a peaceful life after retirement. There is an increasing demand for retirement products due increase in the longer living global population and a growing need for wealth protection. The growing population in the country demands for more life insurance schemes and policies.

South African Constitution says that every individual in the country has the right to have access to health care services. Majority of the population in South Africa do not have any medical insurance and depend on a public health system with few doctors and dilapidated facilities that result in delay of medical treatment. The government implemented a National Health Insurance plan in the year 2009 that would cover medical facilities for all its citizens and would take almost another decade to get into full swing.

The poorest people in South Africa are provided with free services and medicines but with insufficient medical facilities. A survey states that a part of the population is not covered for health insurance, or life insurance or any long-term disability insurance.

A recent research states that the short-term insurance schemes in South Africa has been slowed to go digital and the sector is losing out on gross written premiums opportunities. Majority of the life insurance companies suggest that influencing cost efficient distribution channels like bancassurance, internet and or mobile phone distribution will be a key to selling life insurance to the population living in low income countries, including Nigeria. The life insurance industry in South Africa is a challenging market and given sluggish domestic economic growth for the country.

South Africa is one of the most advanced life insurance markets in the world, accounting for approximately 86% of Africa’s total life premiums. This market is concentrated around Lagos in the south west and Nigeria’s in the north. African insurance premium volumes have dropped sharply due to the currency depreciation in the country, high poverty rate, lack of capital, expertise within insurance companies, lack of effective and transparent legal, judicial and regulatory systems, combined with immature financial markets which are the major factors affecting the life insurance market in South Africa.

Besides all the hurdles, the life insurance industry in the next decade will witness a radical change in customers reducing sharply in favour of digital natives as the omnichannel revolution has begun to shape the future of the industry. The percentage of life insurance policies sold online will be doubled in the next decade along with South Africa’s growing economic conditions.

 

To know more about the research report:

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/life-insurance-south-africa-key-trends/111699-93.html

 

Related reports:

Governance, Risk and Compliance-The Lesotho Insurance Industry

Governance, Risk and Compliance-The Qatari Insurance Industry


Contact Us:

Ken Research
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
+91-9015378249
www.kenresearch.com

https://www.kenresearch.com/blog/2017/08/life-insurance-sector-evolve-soon-south-africa-ameliorating-economy-ken-research/