Communications Platform as a Service (CPaaS) Market Is Expected to reach US$ 59,362.1 Mn by [2022-2032]

By 2032, the Communications Platform as a Service (CPaaS) Market is projected to grow at a 25% CAGR and reach a value of US$ 59,362.1 Mn.

Communications Platform as a Service (CPaaS) Market Estimate (2022) Market Value US$ 6,384.4 Mn
Projected year (2032) Market Value US$ 59,362.1 Mn
CAGR% (2022-2032) 25.0%
Top 5 Vendor Market Share Around 35%

Between 2021 and 2031, the market for communications platform as a service (CPaaS) is anticipated to rise due to the rising demand for contextual communications that can enhance the overall customer experience. The market is anticipated to expand significantly over the course of the forecast period due to a number of factors, including the increased demand for dependable and affordable communication services, the simplicity of converting to a hybrid model, the market’s high availability, and the enhanced service quality provided by CPaaS.

CPaaS is a cloud-based delivery platform that enables companies to use APIs to add real-time communication channels to their industries, such as SMS, voice, email, chat apps, and more. Additional benefits include cost savings, increased employee productivity, access to cutting-edge technology, an increase in sales, and better customer service.

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Key Takeaways of CPaaS Market Study

CPaaS market is set to exhibit nearly 18.1% Y-o-Y growth in 2021. The rising demand from diverse industries guarantees exponential growth of the market in the coming years The U.S. will remain a highly lucrative market for CPaaS, accounting for nearly 86% of the market in North America Growth in U.K. will happen at an impressive pace. In 2021, the market is expected to register 15.7% Y-o-Y growth in the U.K. Germany and France will also exhibit considerably high demand for CPaaS Japan and South Korea will emerge as attractive markets for CPaaS services and solutions in East Asia

“Key players are focusing on continuous developments and implementation of new solutions such as cloud communication technology and Next-Gen CPaaS solution for improving workflows & business applications, and real-time communications features. This is creating growth opportunities for the CPaaS market”. Says the FMI analyst.

Demand for CPaaS Rose Considerably Amid COVID-19

The COVID-19 pandemic outbreak has disrupted many industries, including the communications platform as a service (CPaaS) software market. Many private, as well as government organizations, have transitioned to remote working, due to which there is a sudden surge in demand for communications platform as a service (CPaaS) solutions. The demand for collaborations tools, communications platform as a service (CPaaS) software, conferencing software, UCaaS, remote desktop software and remotely managed IT services is increasing during the lockdown resulted by COVID-19 outbreak. This is driving an increase in the demand for communications platform as a service (CPaaS) solutions.

CPaaS market is estimated to grow by 1.4X from 2019-2020 and would see a surge in demand amid the COVID-19 outbreak, as remote working becomes the new norm. The worldwide spread of COVID-19 pandemic in Q1, 2020 has impacted the lockdown across the globe, nearly 80% of the IT workforce were moved to home offices and continue to work from home. This paradigm shift to remote working has created a huge demand for online platform, cloud services and remote access to important projects. Increasing adoption of cloud-based CPaaS such as communications platform as a service (CPaaS) software, web conferencing, cloud storage, unified messaging and others, due to global lockdowns, would further drive the CPaaS solution demand.

CPaaS Uptake to Increase across Diverse Industries

CPaaS can be utilized for streamlining transactional messaging that include reminders and notifications. For instance, hospitals and clinics can send automated appointment reminders to patients and reduce the cases of missed appointments. In turn, it can help them run a more efficient practice.

Hospitals across the globe are using remote diagnostics, virtual patient-doctor visits, appointment reminders or rescheduling, and provides updates of waiting times in busy clinics such as outpatient departments. Several schools and educational institutions in regions such as North America, Europe and Asia Pacific are using embedded video, voice, and messaging for real-time online tutoring and allowing students to collaborate (among themselves and with teachers) remotely.

Who is Winning?

Cloud deliveries offered by some of the leading organizations operating in the market are transforming the way enterprises are managing their communication networks. Market players are offering various innovative solutions to cater to the dynamic consumer requirements. For instance, Voximplant launched a one-click integration with Google Dialogflow in July 2020.

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Some of the leading companies operating in the market are:

Avaya Inc. Bandwidth Inc. Twilio Inc. Vonage Infobip ltd. Mitel Networks Corporation TeleSign Corporation Telnyx LLC MessageBird IMIconnect

Communications Platform as a Service Outlook by Category

By Solution:

  • Communications Platform as a Service (CPaaS) Software
  • Services

By Enterprise Size:

  • Small & Medium Enterprises (SMEs)
  • Large Enterprises

By Industry:

  • IT & Telecom
  • BFSI
  • Manufacturing
  • Healthcare
  • Retail & CPG
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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More Valuable Insights on CPaaS Market

A new market research report published by Future Market Insights (FMI) on the global CPaaS market includes global industry analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides valuable insights on the basis of solution ((software), and services (professional services (integration & implementation, consulting, and support & maintenance) and managed services)), enterprise size (small & medium enterprises (SMEs) and large enterprises), industry (IT & telecom, BFSI, manufacturing, healthcare, retail & CPG, others), across six major regions.

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About FMI                     

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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IoT For Cold Chain Monitoring Market Size to be worth 17.8 Bn by [2021-2031]

IoT For Cold Chain Monitoring Market is anticipated to increase, growing at a CAGR greater than 13.6% from 2021 to 2031, to reach a valuation of 17.8 Bn.

IoT for cold chain monitoring demand drivers are discussed in detail in a recent study by Future Market Insights (FMI), a market research and consultancy business with ESOMAR certification. The paper examines the effects of COVID-19 on the pharmaceutical and healthcare, food and beverage, and IoT for cold chain monitoring industries in general as well as the global sales of IoT for cold chain monitoring in more than 20 high-growth markets.

IoT technologies can utilize data that exists within the physical environment to unlock the business value across the cold chain in the form of brand equity, reduced waste, and return on investments. The web-based platform leverages real-time information from the manufacturing, production, storage and distribution stages to help companies monitor and manage asset health, temperature, work flow, vehicle location, and environmental data.

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Key Takeaways: IoT for Cold Chain Monitoring Market

  • The global IoT for cold chain monitoring market is estimated to register a CAGR of 13.6% during the forecast period of 2021-2031
  • The U.S. will continue leading the market, accounting for 86.7% of North America in 2021
  • The U.K. will remain a key market in Europe, exhibiting 10.8% Y-o-Y growth in 2021
  • Demand from Germany and France will continue increasing through 2031
  • While growth exhibited by Japan and South Korea is expected to increase at accelerated pace, over half of East Asia market will be accounted by China through the forecast period

COVID-19 Impact Analysis on IoT for Cold Chain Monitoring Market

As the world is struggling with the COVID-19 pandemic, cold storage companies are working for ensuring that there are enough fresh products to buy. Due to COVID-19 the adoption of IoT sensors for cold chain monitoring is increasing has the sensors help to collect, analyze light, humidity and temperature as well as send notification with location details if any issue arises.

Cold chain management has emerged as a crucial factor during the pandemic. As governments and other entities has started COVID-19 vaccines distribution the demand is increased for cold chain monitoring. Cold chain management maintains the necessary refrigeration levels of temperature-sensitive coronavirus vaccine across manufacturing, transportation, storage, and distribution process.

Adoption of IoT Technology is Driving the Market Growth

IoT adoption is increasing in response to the increasing awareness regarding the use of IoT in business and benefits of using IoT technologies is increasing. In emerging countries, the governments are announcing the plan to set up an IoT institute for developing IoT in automation, robotics, healthcare and other industries as the smartphone usage is increasing and there is availability of strong network of fourth generation broadband and data centers. Adoption of IoT will increase in various industries for different purposes such as adoption of IoT in cold chain monitoring will help the companies to monitor and manage the products and prevent them from damage.

Who is Winning?

Some of the leading players operating in the market are TE Connectivity, Huawei Technologies, Zebra Technologies, Aeris, Laird Connectivity, Roambee Corporation, MosChip Technologies Limited. SenseGiz Inc, HC Technologies, Dycodex.

These companies have been focusing on innovations to gain competitive advantage. For instance, in 2017 Orbcomm unveiled a state-of-the-art cold chain monitoring solution, which it called PT 6000.

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Key Segments Covered of the IoT for Cold Chain Monitoring Market

Component

  • Hardware
    • IoT Temperature/Humidity Sensors
    • Data Logger
    • Others
  • IoT Software/Platform for Cold Chain Monitoring
  • Services
    • Integration & Installation
    • Consulting
    • Support & Maintenance

Enterprise Size

  • SMEs
  • Large Enterprises

Industry

  • Healthcare & Pharma
  • Retail & CPG
  • Food & Beverages
  • Chemicals
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Massive Open Online Course Market worth US$ 31.3 Bn by [2022-2030] at a CAGR of 16.7%

The market for massive open online courses is presently estimated to be worth roughly US$ 9.13 billion, and by 2030, it is expected to grow at a CAGR of 16.7% to reach US$ 31.3 billion. In 2021, the worldwide e-learning market’s share of the massive open online course (MOOC) industry was 4%.

Massive Open Online Course Market Size (2022) US$ 9.13 Bn
Sales Forecast (2030) US$ 31.3 Bn
Global Market Growth Rate (2022 to 2030) 16.7% CAGR
Share of Top 5 Market Players 60%

According to a recent analysis by Future Industry Insights (FMI), the massive open online course (MOOC) market is growing quickly as a result of the rising demand for online education in the midst of the current pandemic. For students in high school, college, and other educational settings, demand for various massive open online courses has skyrocketed as a result of the prolonged lockdown and new social norms.

The demand for numerous open online courses in the humanities, business management, sciences, and other fields is growing, which is boosting the global MOOC industry. Massive open online courses, which provide open access and unrestricted participation to a variety of courses over the internet, have helped students during a COVID-19 shutdown when academic and professional institutions were closed to stop the virus’s spread.

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According to a research report on the United States, China, and India presented at the 2nd International Conference on Modern Management, Education Technology, and Social Science (MMETSS 2017), over 23 million people entered the MOOC family for the first time in 2016. From approximately 700 universities in 2016, there were 6,850 MOOCs overall in 2017. Additionally, during the time of forecasting, this trend is anticipated to intensify.

In its market report, FMI provides a thorough description of the market, along with its growth drivers and constraints.

Some of the key takeaways from the report are highlighted below-

  • Demand in MOOC platforms is expected to surge considerably in the coming years
  • Education & training courses are set to witness surge in demand which in turn will cater to the market growth
  • Post graduates are expected to remain dominant end users of MOOC throughout the forecast period
  • North America will lead in the global market with its epicenter in Canada
  • South Asia & Pacific will emerge lucrative exhibiting highest rate of growth in the coming years

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COVID-19 Impact Analysis

While the market got affected in the on-set of the COVID-19 pandemic earlier this year, the surge in demand for various online courses followed soon after. In order to continue with the respective courses as schools, colleges, and educational institutions remained shut during lockdown the adoption of online education and courses increased substantially.

According to the Organization for Economic Cooperation and Development (OECD), the evidence from web searches also points to the rise in requirement for online training. In Canada, France, Italy, the United Kingdom, and the United States, searches for terms such as online training, e-learning, and massive online open courses increased up to fourfold between end-March and early April 2020 as strict lockdown started in most OECD countries.

Though the world is recovering and about to get back to normal in a couple of years, the inclination towards online courses is anticipated to increase further in the coming years.

Who is Winning?

Competition in the global MOOC market is getting tougher gradually. In order to capitalize on the prevalent opportunities, the market players are designing new education modules and launching online courses to provide quality MOOCs.

For instance,

  • EDX launched its new range of MOOCs from the world’s best universities such as MITx, HarvardX, BerkeleyX, UTx, and others in 2020. Their courses covers various topics such as biology, computer, chemistry, science, computer, economics, and others.
  • Edureka launched its new range of instructor-led MOOCs along with their 24/7 online demand support to achieve highest course completion rates in the industry in 2020.Their real life projects and personal learning managers ensure that learning goals are meet on time

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Massive Open Online Course Industry Survey

Massive Open Online Course Market by Component:

  • MOOC Platforms
    • XMOOC
    • CMOOC
  • MOOC Services
    • Consulting
    • Implementation
    • Training & Support

Massive Open Online Course Market by Course:

  • Humanities
  • Computer Science & Programming
  • Business Management
  • Science
  • Health & Medicine
  • Education & Training
  • Engineering
  • Others

Massive Open Online Course Market by End User:

  • High Schools
  • Under Graduates
  • Post Graduates
  • Corporates

Massive Open Online Course Market by Region:

  • North America Massive Open Online Course Market
  • Latin America Massive Open Online Course Market
  • Europe Massive Open Online Course Market
  • East Asia Massive Open Online Course Market
  • South Asia & Pacific Massive Open Online Course Market
  • Middle East & Africa (MEA) Massive Open Online Course Market

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About FMI                     

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Semiconductor Wafers Market will reach a value of US$ 31.41 Bn by [2022-2030] at a CAGR of 5.7%

The global market for semiconductor wafers is currently valued at US$ 20.19 billion and is expected to grow at a CAGR of 5.7% to reach US$ 31.41 billion by the end of 2030.

Semiconductor Wafers Market Size (2022) US$ 20.19 Bn
Sales Forecast (2030) US$ 31.41 Bn
Global Market Growth Rate (2022 to 2030) 5.7% CAGR
Share of Top 5 Market Players 55%

ESOMAR-certified market research company Future Market Insights’ (FMI) recently published semiconductor wafers market study projects a largely positive growth trajectory for the 2020-2030 assessment period. The study divulges key dynamics responsible for shaping the future growth prospects of the market.

Deepening 5G technology penetration is amongst the primary growth drivers, as business houses and corporates look towards diversifying their future operations. By 2024, 5G networks shall cover 2/5th of the globe, handing a quarter of all mobile traffic data. Thus, production of wafers to manufacture ICs for 5G devices is rising.

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Key Takeaways

  • By application, automotive semiconductor wafer to experience nearly twofold growth until 2030
  • Extensive applications to be witnessed across consumer electronics, particularly in the manufacturing of integrated circuits (ICs)
  • By size, 150-200 mm semiconductor wafers is likely to generate over 2/3rd revenue share by 2020-end
  • East Asia to emerge as the market hegemon, with China pivoting maximum growth, Europe and North America remain highly lucrative
  • Global semiconductor wafers market to register value CAGR worth 5.6% through 2030

COVID-19 Impact Analysis

The novel coronavirus pandemic has ushered in multiple impacts across the global semiconductor wafers market. Stringent government-mandated lockdowns have contracted production of automotives, a key application area for semiconductor wafers.

A 16% decline was experienced in the global automotive industry since the past few months, thereby restraining sales of semiconductor wafers for multiple purposes such as infotainment systems, collision detection and navigation.

Simultaneously, surging sales of consumer electronic products is keeping the semiconductor wafers market demand afloat, particularly across emerging economies. With mandatory lockdowns imposed, corporate entities, educational institutions and entertainment houses are encouraging virtual interactions, thus upscaling demand for smartphones, tablets and laptops.

Competitive Landscape

Prominent semiconductor wafers manufacturers profiled in the report include Applied Materials Inc., ASM International, Nikon Corporation, SCREEN Semiconductor Solutions Co. Ltd., Hitachi High-Technologies Corporation, Tokyo Electron Limited, ASML Holding N.V., KLA Corporation, Lam Research Corporation and others.

In November 2020, Hitachi High-Technologies Corporation launched its 3D SEM CT1000 used for defect observation across semiconductors. The devices enables a three-dimensional observation of pattern and defects shapes occurring during the manufacturing process on wafers measuring upto 200 mm in diameter.

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Semiconductor Wafers Industry Survey
Semiconductor Wafers Market by Wafer Size:

  • Less than 150 mm Semiconductor Wafers
  • 150 to 200 mm Semiconductor Wafers
  • More than 200 mm Semiconductor Wafers

Semiconductor Wafers Market by Application:

  • Automotive
  • Consumer Electronics
  • Industrial Manufacturing
  • Telecommunications
  • Others

Semiconductor Wafers Market by Region:

  • North America Semiconductor Wafers Market
  • Latin America Semiconductor Wafers Market
  • Europe Semiconductor Wafers Market
  • East Asia Semiconductor Wafers Market
  • South Asia & Pacific Semiconductor Wafers Market
  • Middle East & Africa (MEA) Semiconductor Wafers Market

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About FMI                     

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:                                        

Future Market Insights Inc.
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Basalt Fibre Market is Expected to reach US$ 577.2 Million by 2032

In 2022, the global basalt fibre market is anticipated to be worth US$ 239.4 million. Basalt fibre is a basalt rock product that contains pyroxene and minerals such as plagioclase and olivine and is used in the construction industry due to its low water retention capacity and high thermal resistance. It is also increasingly used in industrial furnace linings and fibre rope applications.

Overall demand for basalt fibre is projected to grow at a CAGR of 9.2% between 2022 and 2032, totaling around US$ 577.2 Million by 2032.

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Basalt Fibre Market – Growth Restraints

While basalt fibre is witnessing significant demand from several end-use sectors, factors such as high cost and scarcity of raw material is posing threat to the basalt fibre market growth.

Availability of numerous low-cost substitutes such as fiberglass is dampening the adoption of basalt fibre from small-scale industries.

Domestic manufacturers in emerging regions are stiffening the market competition by selling products at much cheaper rates, as such, leading players are experiencing difficulties in expanding their regional foothold.

Basalt Fibre Market – Regional Analysis

North America and Europe currently hold prominent share in the global basalt fibre market. The US, Russia and Germany are leading consumers of basalt fibres in these regions respectively.

These regions are hub of automobile, construction and wind energy sectors. Further, favorable government trade policies are playing a helping hand in the market growth in North America and Europe.

Asia Pacific (APAC) is anticipated to provide remunerative opportunities to basalt fibre market towards the forecast period.

Increasing government investments towards infrastructural development is slated to drive the regional market growth.

Expanding automotive industries in China and Japan is fueling the demand for basalt fibre. Studies reveal that the annual production of automobiles in APAC is more than 50 million, 60% of which are used domestically.

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Basalt Fibre Market – Competitive Landscape

The global basalt fibre market is slightly fragmented and is represented by limited number of global and regional players. These players are focusing on continuous expansion and collaboration activities. For instance,

  • In April 2020, Polotsk-Glassfibre expanded its business by launching a new furnace with production capacity of 500 tons fibre per year.
  • In 2019, Basanite Industries LLC started a new manufacturing unit in Florida for production of basalt fibres and basalt composites.

Key Compnies

  • Kamenny Vek Mafic
  • Technobasalt-Invest
  • Fibrebas Construction and Building Technologies
  • Hebei Tong-Hui Technology
  • Technobasalt-Invest LLC
  • Company Mineral 7
  • Aerospace Tuoxin
  • Mudanjiang Jinshi Basalt Fibre Co. Ltd
  • Zaomineral
  • GMV
  • Mafic SA
  • KamennyVek
  • Jilin Province Huayang New Composite Material Co., Ltd.
  • Tongxin, Galen, Nmg Composites Co., Ltd.
  • Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd.
  • Incotelogy GmbH
  • JiangsuTianlong

Basalt Fibre Market – Segmentation

Basalt fibre market is segmented on the basis of following,

By Type

  • Composites
  • Non-Composites

By Composite Processing Method

  • Pultrusion
  • PrePregs
  • Compression Moulding
  • Hand Layup
  • Resin Moulding
  • Vaccum Infusion
  • Spray Gun
  • Filament winding
  • Resin film Infusion (RFI)
  • Others

By Application

  • Concrete reinforcement
  • Roads
  • Mesh filters
  • Insulator
  • Wall Plugs
  • Spray Application
  • Refractory Bricks and Blocks

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Traffic Road Marking Coatings Market to be worth US$ 9.34 Bn by 2032 | CAGR of 6%

The global traffic road marking coatings market is expected to reach a market valuation of US$ 5.22 Billion by the year 2022, accelerating with a moderate CAGR of 6% by 2022-2032. Traffic Road Marking Coatings market size is anticipated to be valued at about US$ 9.34 Billion by 2032 end.

Road markings are designs, lines, or phrases painted on the ground to direct and regulate traffic on highways and to properly direct pedestrians. One of the materials used to indicate the delineation of traffic channels and act as a psychological barrier to guarantee smooth and orderly traffic flow is solvent-based and thermoplastic road marking paint.

One of the factors driving the traffic road marking coatings market size through the forecast period is the quick deployment of road and highway projects to relieve traffic congestion. For instance, the I-405 widening project in California, U.S., will involve a variety of construction projects throughout its 16-mile length from Long Beach to Costa Mesa. The adoption of traffic road marking coatings is anticipated to increase in the coming years as a result of these advances and the increased number of fatalities from traffic accidents.

One of the coating types that is expanding the fastest is epoxy. Epoxy coatings are frequently utilized in high traffic areas because they are affordable and dependable. As a result of their resistance to oil, transmission fluids, and gasoline, these coatings are chosen over plastics. The traffic road marking coatings market is anticipated to increase rapidly due to the rising demand for such tough coatings.

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Due to the strict code of conduct mandated by governments, demand in the polymer and coating industries also decreased. The supply of raw materials for the traffic road marking coatings market was slightly impacted by the COVID-19 outbreak. The pandemic and lockdown conditions severely disrupted the coatings industry’s whole production and supply chain, which also had an impact on the traffic road marking coatings market.

As per the traffic road marking coatings traffic road marking coatings market analysis, several road maintenance and construction projects expanded as a result of the decreased traffic, despite significant supply chain instability during the early months of the COVID-19.

In addition to allowing for road construction, the crisis and aircraft cancellations gave time to assess the best times to build a runway. For instance, Auckland Airport announced plans to advance its runway pavement replacement project by taking use of the opportunity presented by the traffic limitations during the pandemic in May 2020.

Key Takeaways from Market Study

  • While the Asia Pacific region is anticipated to experience the maximum growth during the projection period, Europe has emerged as the largest traffic road marking coatings
  • The traffic road marking coatings market is anticipated to reach a valuation of US$ 9.34 Billion by 2032.
  • Road marking lines were the most popular application category in 2021, accounting for a traffic road marking coatings market share of 55.1 percent.
  • Thermoplastic coating is anticipated to increase at the quickest rate of any product category during the forecast period, accounting for 23.3 percent of traffic road marking coatings market

Competitive Landscape

Companies like US Specialty Coatings, Swarco AG, Monarch Industrial Product (I) Pvt. Ltd., Geveko Markings (Sollix Group), Ennis-Flint (PPG Industries), and Crown Technologies are among those that compete in the traffic road marking coatings market. These companies use a variety of techniques to diversify their product offerings across the global market, including strategic product releases, acquisitions, and corporate expansions.

Recent Developments in Global Polycarbonate Market

PPG created the Traffic Solutions division in January 2021 after purchasing Ennis-Flint in order to produce and provide pavement-marking materials, such as thermoplastics and paint, for clients in the commercial infrastructure and other sectors.

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Traffic Road Marking Coatings Market by Segmentation

By Product:

  • Paint
  • Thermoplastic
  • Preformed Polymer Tape
  • Epoxy

By Type:

  • Permanent
  • Removable

By Application:

  • Road Marking Lines
  • Road Marking Labels

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Ethylbenzene Market Size to Reach US$ 31 Billion by 2032 | CAGR of 3.5%

During the projected period, the global ethylbenzene market is expected to be worth US$ 31 billion, with a 3.5% growth rate. The market is expected to be worth $21.3 billion in 2021 and $21.9 billion in 2022. The market’s expansion can be linked to the widespread use of ethyl benzene in the manufacturing of styrene.

During the forecast period, the rising use of ethylbenzene in end-use sectors such as packaging, electronics, construction, and agriculture is likely to drive the growth of the global ethylbenzene market. From 2015 to 2021, the ethylbenzene market increased at a CAGR of 2.6%, reaching a value of US$ 21.3 billion. The industry is expected to be worth $21.9 billion by 2022.

On the contrary, the increasing concerns related to ethylbenzene hazards is expected to hinder the market expansion in the coming time. In addition to it, stringent rules and regulations of various governments regarding the usage of ethylbenzene are other factors projected to hamper the industry growth in the forecast period.

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Key Takeaways from the Market Study

  • By application, the styrene segment is expected to record an 2.9% CAGR by 2032
  • By end user industry, the construction segment to expand at a 3.0% growth rate during the forecast period.
  • The U.S market to garner US$ 10.7Billion and record an 7.2% CAGR from 2022-2032
  • Market in China to procure US$ 2.2 Billion, expanding at a 3.1% growth rate during the assessment period

 “The increasing demand of ethylbenzene for expansion of petrochemical industry across the globe is expected to drive the market in the forecast period. Also, the development of automotive, construction and packaging industries is projected to play a vital role in strengthening the market.”

Competitive Analysis

Eminent players of the global ethylbenzene market include IHS Inc., International Finance Corporation, 3E Company, CMO Software, Enablon North America Corporation, among others. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.

Recent key developments among players include:

  • In April 2021, – Honeywell announced a new refinery configuration developed by Honeywell UOP to produce a cleaner-burning gasoline product that meets increasingly stringent fuel regulations, including the Euro V standard, which limits sulfur content and restricts carbon emissions from gasoline and diesel vehicles.
  • In May 2021- INEOS Styrolution, the global leader in styrenics, celebrates 90 years of polystyrene, a material that has significantly contributed to societal well-being for over almost a century. Polystyrene became one of the first commercially available polymers enabling a wide range of products that enhance our daily lives. Polystyrene is made for recycling, making it the material of choice for the future.

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Key Segments Covered in the Ethylbenzene Industry Survey

Ethylbenzene Market by Application:

  • Ethylbenzene for Gasoline
  • Ethylbenzene for Diethylbenzene
  • Ethylbenzene for Natural Gas
  • Ethylbenzene for Paint
  • Ethylbenzene for Asphalt and Naphtha

Ethylbenzene Market by End User Industry:

  • Ethylbenzene in Packaging
  • Ethylbenzene in Electronics
  • Ethylbenzene in Construction
  • Ethylbenzene in Automotive
  • Ethylbenzene in Agriculture
  • Ethylbenzene in others.

Ethylbenzene Market by Region:

  • North America Ethylbenzene Market
  • Europe DNA Ethylbenzene Market
  • Asia-Pacific DNA Ethylbenzene Market
  • Middle East & Africa Ethylbenzene Market
  • Latin America Ethylbenzene Market

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Barium Carbonate Market to Display Impressive Growth of 4.8% with Rising Demand

According to Future Market Insights (FMI) in a new market analysis, the worldwide barium carbonate market is expected to grow at a steady 4.8% CAGR between 2022 and 2032. Barium carbonate is an inorganic substance that is white and insoluble in water. Although it occurs naturally and is known as Witherite, it is synthesized for industrial use from barium sulphide with the treatment of sodium carbonate. It is one of the most significant Barium compounds.

Barium carbonate is essential in a variety of end-use industries, including construction, ceramics, electronics, and others. It is used in the production of tiles, bricks, and blocks, which are then employed in the building and construction industry. The expanding construction and building sector is likely to boost the barium carbonate market.

Barium carbonate is used to avoid scumming in tiles and bricks. Because these tiles and bricks are widely utilised in the construction industry, rising building activity is likely to drive up demand for barium carbonate. Apart from that, barium carbonate is used to some extent in the electronics and ceramics industries. It is utilised in television glass, special glass, magnets, electrodes, enamels, and a variety of other applications.

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“Over the assessment period, sales of barium carbonate are expected to be driven by the growing construction & ceramics industry across the globe followed by demand from the oil & gas and electronics industries” says an FMI analyst.

Key Takeaways:

  • The bricks & tiles segment is projected to hold approximately 34% of the total market share in 2022.
  • The construction segment is anticipated to grow at 5.1% CAGR through 2032.
  • East Asia will emerge as an attractive barium carbonate market and is expected to create an incremental dollar opportunity of US$365.2Mn in the forecast period.
  • The ceramics segment will emerge as the leading end user and is expected to reach about US$317.0Mn by end of the forecast period.

Competitive Landscape         

Key market participants of the barium carbonate market elaborated in the report include SAKAI CHEMICAL INDUSTRY CO., LTD., SHAANXI ANKANG JIANGHUA GROUP CO., LTD, Chemical Products Corporation, Kandelium, Honeywell International Inc., Akshya Minerals & Chemicals, Nippon Chemical Industrial Co., Ltd, AG Chemi Group, Hubei Jingshan Chutian Barium Salt Corporation Ltd., Hebei Xinji Chemical Group Co. Ltd., Zaozhuang Yongli Chemicals Co., Ltd, Barium & Chemicals and others.

Market players are strengthening their footprint by expanding their production capacity. Barium carbonate is in high demand in a variety of end-use industries including construction, ceramics, and others. Considering this, a few companies have acquired other players to broaden their reach. This will aid in the expansion of their product portfolio and global footprint. For Instance:

  • In November 2020, Latour Capital and Solvay entered into an agreement where, Latour acquired Solvay’s barium & strontium, and sodium percarbonate business conducted by Solvay German, Spanish & Mexican Subsidiaries and Divisions. This acquisition will help Latour to accelerate its growth. This step is taken by Solvay to streamline its product portfolio and aligns with its G.R.O.W. strategy.

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 More Insights into the Global Barium Carbonate Market Report

In its latest report, FMI offers an unbiased analysis of the Global Barium Carbonate market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on product form (granular, powder & ultra-fine), by application (bricks & tiles, specialty glass, glazes, enamel, electro ceramic, and others), by end-use industry (construction, ceramics, oil & gas, electronics, and others) & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Rare Gas Market Size Worth US$ 6 Bn by 2032 | Future Market Insights

The global rare gas market is predicted to develop at a 5.2% CAGR, reaching US$ 6 billion by 2032, according to Future Market Insights (FMI).

Because of its unique physical and chemical qualities, helium gas is used in some of the most critical activities in the medical sector. Helium gas and oxygen are used to treat a variety of ailments, including emphysema, asthma, and other respiratory conditions. It can also be used to generate images in MRI scanners. This is expected to boost rare gas sales in the healthcare industry.

Similarly, in the medical field, argon is used as a surgical instrument. Argon plasma coagulation is a non-contact technique that uses high-frequency stimulation of argon plasma to reduce bleeding in surgical areas by coagulation.

Moreover, growing applications in aerospace and aircraft industries are anticipated to create opportunities for rare gas market players. Xenon is used as a propellant for ion thrusters. As the number of space missions is increasing all around the world, the need for xenon gas is expected to increase.

Further, krypton is extensively used in construction industry because of its effective insulation and energy efficiency in high-end triple and double glass windows.

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“Rare gas ionization provides a strong white light which is used in flashbulbs, fluorescent lamps, airport runway lights, and lasers. For brighter light, rare gas is effective for indoor light application. Growing demand for brighter light for various applications will fuel growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

  • By supply mode, sales in the cylinders segment will increase at a 5.3% CAGR through 2032.
  • In terms of applications, demand in the lighting segment will surge at a 4.8% CAGR over the forecast period.
  • The U.S. rare gas market is anticipated to create an incremental opportunity of US$ 385.9 Mn over the forecast period.
  • China will account for a dominant share in the East Asia rare gas market, with demand growing at a 5.3% CAGR through 2032.

Competitive Landscape

Air Gas, Air Liquide, Matheson Tri-Gas, Inc., Messer Group GmbH, American Gas Products, The Linde Group, Air Products & Chemicals, Inc., and Air Water Inc. are some of the leading players operating in the global rare gas market.

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Key Segments Covered In Rare Gas Industry Research

By Rare Gas Type:

  • Argon
  • Krypton
  • Neon
  • Xenon
  • Helium

By Supply Mode:

  • Cylinders
  • Bulk & Micro Bulk
  • Drum Tanks
  • On-Site

By Application:

  • Healthcare
  • Manufacturing
  • Electronics
  • Laser
  • Lighting
  • Others

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
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Polymerization Initiators Market is reaching US$ 2.1 Bn at a gracious rate of 4.9% by the year 2032

The global polymerization initiators market is projected to reach a valuation of US$ 1.3 Bn in 2022, with sales growing at a 4.9% CAGR during the forecast period. Against this backdrop, the polymerization initiators market size will reach US$ 2.1 Bn by 2032.

Polymerization initiators are chemical substances that react with a monomer to form an intermediate which can link with many other monomers sequentially to form a polymeric compound.

Substantial production volume of plastics all over the globe is fueling the demand for initiators. Although peroxide is in high demand, sales of persulfate are expected to gain traction during the forecast period owing to its extensive usage in the manufacturing of polymers.

The quantity and type of initiators are determined by the type of monomers and the applications in which they will be used. These initiators are used in radical polymerization to control heat or light initiation.

Polyethylene, polypropylene, and PVC are common plastics used in a variety of end-use industries. The growth in the initiators market will be aided by increasing demand for these plastics.

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As per FMI, East Asia is expected to dominate the global polymerization initiators market over the forecast period due to extensive usage of polymerization initiators in the manufacturing sector in China.  The polymerization initiators market in East Asia is projected to top US$ 759.6 Mn by 2032.

“Increasing usage of polymerization initiators in the healthcare sector for the formulation of drugs such as benzoyl peroxide, along with surging demand for plastics such as polyethylene, polypropylene, PVC will augment the growth in the market,” says and FMI analyst.  

Key Takeaways:

  • Based in type, the peroxide segment is projected to hold approximately 44% of the total market share in 2022.
  • In terms of applications, total demand in the polyethylene segment is forecast to reach US$ 610.3 Mn by 2032.
  • The azo compounds segment is anticipated to grow at a 5% CAGR through 2032.
  • India is expected to lead the South Asia polymerization initiators market due to increasing utilization in healthcare and automotive sectors.
  • China is expected to account for 77% of the East Asia polymerization initiators market share in 2022.
  • East Asia will emerge as an attractive market, creating an incremental dollar opportunity of US$ 308.2 Mn during the forecast period.

Competitive Landscape         

Key market participants of the polymerization initiators market elaborated in the report include Arkema, Nouryon, United Initiators, LANXESS, Adeka Corporation, Fujifilm Wako Pure Chemicals Corporation, Otsuka Chemical Co, Ltd, Chemorous, and others.

Key market players are investing in mergers and acquisitions to expand their production strategies and to improve sales. For instance:

  • In 2019, United Initiators announced that its Sodium Persulfate plant would be operational with commercial sales in Huaibei, China. This expansion will help in serving the client base of China & Rest of Asia Pacific in the next coming years.

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More Insights into the Global Polymerization Initiators Market Report

In its latest report, FMI offers an unbiased analysis of the global polymerization initiators market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on type (peroxide, persulfate, azo compounds & others), by application (polyethylene, polypropylene, polyvinyl chloride, polystyrene, ABS & others) & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
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United Arab Emirates
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For Sales Enquiries: sales@futuremarketinsights.com