8 Profitable Industries with Greatest Potential
8 Profitable Industries with Greatest Potential. List of Most Profitable Businesses
Steel Wool
Steel wool, also known as iron wool, wire wool, steel wire or wire sponge, is a bundle of very fine and flexible sharp-edged steel filaments. It was described as a new product. It is used as an abrasive in finishing and repair work for polishing wood or metal objects, cleaning household cookware, cleaning windows, and sanding surfaces.
Steel wool is most often used in refinishing furniture and sometimes in the kitchen (in the form of the popular Brillo pad,) but those are by no means its only uses! Steel wool is an inexpensive and effective workhorse inside and outside of home.
Steel wool is the name given to fine metal wire that are bundled together to form a cluster of abrasive, sharp-edged metal strips. The metal strips are massed together in a sheet, folded, and turned into pads that are easily held in the hand. These steel wool pads are used for a variety of purposes, but primarily as an abrasive material, sometimes replacing sandpaper. Steel wool may be best known to consumers as the pink-colored abrasive pads that have soap added so that they may be used to scrub pots and pans.
Cement Grinding Unit
Cement grinding are used to improve the efficiency of cement production and reduce energy consumption. Cement grinding have been used for improving cement clinker grinding efficiency, power flow ability, and strength development of binders.
The cement industry in India is probably the most efficient in the world and has a well deserved reputation for technology upgradation. The proper selection of plant and machinery, and process systems and auxiliary equipment is not only important from the energy efficiency point of view, but also critical from the plants.
India is the second largest producer of cement in the world. No wonder, India’s cement industry is a vital part of its economy, providing employment to more than a million people, directly or indirectly. Ever since it was deregulated in 1982, the Indian cement industry has attracted huge investments, both from Indian as well as foreign investors.
India has a lot of potential for development in the infrastructure and construction sector and the cement sector is expected to largely benefit from it. Some of the recent major initiatives such as development of 98 smart cities are expected to provide a major boost to the sector.
Cement production capacity stood at 502 million tonnes per year (mtpy) in 2018. Cement consumption is expected to grow by 4.5 per cent in FY19 supported by pick-up in the housing segment and higher infrastructure spending. The industry is currently producing 280 MT for meetings its domestic demand and 5 MT for exports requirement.
The Indian cement industry is dominated by a few companies. The top 20 cement companies account for almost 70 per cent of the total cement production of the country. A total of 210 large cement plants account for a cumulative installed capacity of over 350 million tonnes, with 350 small plants accounting for the rest. Of these 210 large cement plants, 77 are located in the states of Andhra Pradesh, Rajasthan and Tamil Nadu.
Non-Stick Kitchen Ware
The Kitchenware market in India is estimated to be in the range of Rs $320 – $360 million out of which Kitchen Accessories market is just about 18 per cent. The market is highly unorganized with organized players accounting for only 35 – 40 per cent of the market share.
The industry is pegged to grow at around 21%, some of the key drivers are as follows:-
The industry is witnessing tremendous technological changes, creating better and innovative products every now and then, this leads to enormous diversity of articles on of the key drivers of the category
The market bustles specially on the auspicious season of ‘Diwali Festival’, the growth is also fuelled by ‘Marriage Occasions’ where category forms part of Gifting item
The category is becoming popular as the Casual Entertaining Trend is on the rise – thus leading to growth of contemporary and unique item
Development of new retail channels such as modern retail format stores, lifestyle stores, etc. have also added to the growth of the category because:-
- Channel present consumer with lifestyle solution rather than isolated products categories
- Development of different market niches, each aiming on specific consumer group
- Life style-enhancing items increase in-store traffic; encourage consumers to linger longer in the outlets and boost impulse purchases
Auto Bulb, Lamp
Light bulbs for automobiles are made in several standardized series. Bulbs used for headlamps, turn signals and brake lamps may be required to comply with international and national regulations governing the types of lamps used. Other automotive lighting applications such as auxiliary lamps or interior lighting may not be regulated, but common types are used by many automotive manufacturers.
India automotive lighting market is projected to grow at a CAGR of over 12% by 2023, on the back of improvement in vehicle safety standards, advanced features in vehicle lighting systems, and government regulations towards vehicle lighting systems. Moreover, increasing automobile production, as well as vehicle fleet is further contributing to the growth of India automotive lighting market.
An incandescent light bulb, incandescent lamp or incandescent light globe is an electric light with a wire filament heated to such a high temperature that it glows with visible light (incandescence). The filament is protected from oxidation with a glass or fused quartz bulb that is filled with inert gas or a vacuum. In a halogen lamp, filament evaporation is slowed by a chemical process that redeposits metal vapor onto the filament, thereby extending its life.
The global lamps market is expected to expand at a modest CAGR from 2015 to 2023. It is estimated that lighting consumes a significant portion of energy production. The growing demand from rural areas on account of initiatives taken by governments across regions is expected to boost the global lamps market. Rural areas in developing nations of India, the Middle East and Latin America are witnessing a surge in the demand for lamps. The demand for lamps exists not only from residential sectors, but also from commercial and industrial sectors, which will ensure a steady growth of the market.
Buffalo Meat Processing
Buffalo meat is the meat of the water buffalo, a large bovid, raised for its milk and meat in many countries including India, Nepal, Pakistan, Bangladesh, Philippines, Bulgaria, Italy, Russia, Czech Republic, Slovakia and Egypt.
Buffalo meat is known by various names in different countries. In some places it is known as buffen, or buff in India and Nepal; in some countries it is known as carabeef, from the Spanish term and breed name carabao. Meat taken from a buffalo younger than 20 months is known as padwa in India, pado in Nepal and bansgosh in Pakistan. Buffalo calves are often referred to as buffalo broilers and brought up exclusively on milk for the purpose of being slaughtered young for meat.
India’s growing middle-class is pushing the growth of the meat sector. Research shows that there will be around 80% growth in meat demand by 2022 driven by convenience. This will bolster the adoption of processed meat, fish, and poultry products. The Indian meat market is US$31 billion growing at a CAGR 20% and it will reach US$65 billion by 2022.
Jelly Filled Cables
Jelly filled cable is an underground cable having polythene as insulation on conductors and the inter-spaces between the conductors is fully filled with petroleum jelly. Petroleum jelly prevents ingress of moisture and water inside the core in the event of any damages to the cable. The Cable is circular throughout its length and is free from any physical defects.
Furnace Oil
Furnace oil is a dark colored fuel, either distilled or residual fraction of crude oil that is extracted while petroleum distillation and is used for the purpose of generation heat and power. This fuel is sticky, thick and glutinous in nature. Furnace oil is known by the name of fuel oil internationally and also as bunker fuel. The fuel oil consists of lengthy chains of hydrogen and carbon mainly alkanes, cycloalkanes and aromatics. Basically furnace oil is termed for relatively heavier commercial extracts from crude oil.
Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42°C (108°F) and oils burned in cotton or wool-wick burners.
Furnace oil is largely an industrial fuel. It acts as a key ingredient in the generation of electricity and heat in a number of production units. It has been used since a long time for such purposes and has gained much importance and inevitable value. Fuel oil comes under the category of the heavier oils that include furnace oil, low sulfur heavy stock, residual fuel oil, lube oil, bitumen, petroleum coke, paraffin wax and other waxes which can be extracted from crude oil.
Paint Brush
A paintbrush is a brush used to apply paint or sometimes ink. A paintbrush is usually made by clamping the bristles to a handle with a ferrule. They are available in various sizes, shapes, and materials. Thicker ones are used with for filling in, and thinner ones are used for details. They may be subdivided into decorators’ brushes used for painting and decorating and artists’ brushes use for visual art.
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