Market Research Blog – Page 10251 – New Product Development

Smart Home Payments Market to Achieve a High CAGR Of 20.5% During Forecast Period 2022-2032

Global Smart Home Payments Market was valued at US$ 32.9 Bn in 2021. The market is expected to reach US$ 49.2 Bn by 2022 and US$ 318.2 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report Digital Wallet segment will remain pivotal for the market as the bulk of revenue will be generated through this category. The Smart Home Payments Market is Expected to Progress at a CAGR of 20.5% from 2022 – 2032. The various lucrative offers such as profitable reward points, and loyalty vouchers are among the key attributes responsible for its attractiveness.

The US to Command the Larger Proportion of Smart Home Payments Market throughout the Analysis Period

The U.S. commands 36.1% of the market share and is expected to keep its dominance intact with an absolute dollar opportunity growth of US$ 94.3 Bn to reach a valuation of US$ 111.9 Bn by 2032. By 2025, the cohort of people using online banking in the U.S. is projected to reach 216.8 Mn. This is expected to expand the demand for smart home payments market.

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“The Connected Appliance segment by application has significant potential to emerge as a key market driver during the forecast period for the Smart Home Payments market.” comments an analyst at Future Market Insights.

Smart Home Payments Market: Competition Insights

Currently, Smart Home Payments manufacturers are largely aiming at adopting strategies such as mergers, acquisitions, and partnerships. They are working towards finding a balance between expanding their product portfolio and capitalizing on the growing market demand. The key companies operating in the Smart Home Payments market include Amazon.com Inc., Apple Inc., Google LLC, LG Electronics Inc., Mastercard Inc., NMI, Inside Secure, EBizCharge, Ingenico Group S.A., Heartland Payment Systems Inc., Baidu Inc., Xiaomi Corporation, Samsung Group, and Lenovo Group Limited.

The key recent developments of Smart Home Payments manufacturers are as follows:

In July 2022, new integrations coupled with facets like a collection of SDKs (software development kits) and a collection of APIs were announced for Alexa by Amazon.com Inc. The rationale behind this is to increase the versatility of Alexa.
In May 2022, Virtual Cards for Chrome Autofill Users, one of its kind digital wallet for Android users was announced by Google LLC. The aim behind its design and conceptualization is to better standardize the process of accessing and saving payment cards, vaccine passports, transit, and even tickets by its users.
In September 2020, with the launch of the Apple Inc. iOS 15, HomePod 15, tvOS 15, and watch OS8, a wide range of state-of-the-art features were added to Apple HomeKit, its smart home system. These new attributes include the ability to connect multiple HomeKit cameras on Apple TV, coupled with the feature enabling users to ask Siri, for something to be done based on an event or later through voice commands.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Home Payments Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Smart Home Payments Market in terms of Payment Type (Mobile Payment, Digital Wallet, and Online Banking), Application (Connected Appliance Payments, Connected TV Payments, and Smart Speaker Payments) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Key Segments Covered In Market Survey

The Smart Home Payments Market is segmented based on payment type, application, and region.

By Payment Type:

Mobile Payment
Digital Wallet
Online Banking

By Application:

Connected Appliance Payments
Connected TV Payments
Smart Speaker Payments

By Region:

North America
Asia Pacific
Europe
The Middle East and Africa (MEA)
Latin America

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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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B2B Services Review Platforms Market 2022 | Present Scenario and Growth Prospects 2032

The Global B2B Services Review Platforms Market is expected to reach US$ 892.8 Mn in 2032, to surge at 13.7% CAGR during forecast period of 2022-2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, revenue generated through cloud-based B2B services review platforms grew at a CAGR of 26.9% during 2015-2021. Most of the Cloud-based B2B services review platforms provide subscription-based packages, which consist of the software license, support services, and daily back-ups.

Large enterprises have the upper hand over the SMEs in B2B Services Review platforms

B2B services review platforms application in large enterprises generated more revenue than in SMEs. Large enterprises use the B2B services review platform to get better solutions and services from trusted business partners and scale up the profit of the enterprises. The revenue from large enterprises grew at a CAGR of 26.6% from 2015 through 2021.

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B2B Services Review Platforms Market: Competition Insights

The key companies operating in the B2B services review platforms market include Agency Vista, Clutch, Agency Spotter, UpCity, HubSpot Agency Directory, G2.com, GoodFirms, Sortlist, CrowdReviews, Procurated, Serv B2B Marketplace, Techreviewer, TheManifest, Reputedfirms, and Capterra.

Some of the recent developments by key providers of B2B services review platforms are as follows:

In March 2022, com launched G2 Partner Hub. The new G2 Partner Hub will act as a one-stop shop for maximizing its client’s investment in G2. B2B teams can utilize G2’s solutions across a variety of functions with the support of its solution-focused library of 40+ software integrations and partnerships, enabling them to operationalize their tools while organizing operations throughout their businesses.
In March 2022, HubSpot Agency Directory announced the relaunch of Service Hub. The newly developed Service Hub customer service software, help companies to prioritize the customer experience while providing genuine service. All new tools allow businesses to improve team productivity and connect to the front office while strengthening customer interactions.
In February 2022, UpCity redesigned their websites to make it easier for businesses to connect with services providers on UpCity. The new design includes a key feature called ‘UpCity Flair. Flair helps providers stick out on lists by showing icons on the top left of their listings.
In December 2021, com launched its new G2 Investor Solutions. The new offering has been built for investors based on first-party user sentiment data sourced from G2’s 60M+ annual software buyers.
In October 2020, Agency Vista introduced new side-by-side Agency comparison feature. The new agency comparison feature allows enterprises to see a side-by-side preview of agencies and companies can compare them in real-time and choose which agency is suitable for their needs.
In May 2020, Agency Spotter secured investment from outside to develop is new cloud based enterprise SpotSource.com. The SpotSource.com is designed to change the way the Fortune 500 companies perform search, engage and manage their supply chain services. This investment bring Agency Spotter’s total seed raise to US$ 230,000.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the B2B Services Review Platforms Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the B2B Services Review Platforms Market in terms of Type (On-premises, Cloud-based), Application (Large Enterprises, SMEs) across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

Key Segments Covered in B2B Services Review Platforms Industry Survey

B2B Services Review Platforms Market by Type:

On-Premises
Cloud-Based

B2B Services Review Platforms Market by Application:

Large Enterprises
SMEs

B2B Services Review Platforms Market by Region:

North America B2B Services Review Platforms Market
Latin America B2B Services Review Platforms Market
Europe B2B Services Review Platforms Market
Asia Pacific B2B Services Review Platforms Market
Middle East & Africa B2B Services Review Platforms Market

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Business as a Service Market is Anticipated to be Valued at US$ 1074100 Million by 2032 | Report by FMI

The Business as a Service (BaaS) market is expected to grow at a mammoth CAGR of 20.2% during the forecast period. The valuation of this market stands at US$ 170800 million as on 2022, and it is anticipated to be valued at US$ 1074100 million in 2032.

If we view the Business as a Service (BaaS) as a very basic form of business service, it is like giving the business the much-required head start. The businesses can promote their products/services through A2P messaging, wherein the messages will be sent through an application, rather than a person, and the message can be related to marketing communications, notifications, etc. From the very basic level itself, sky is the limit for the business opportunities.

The applications of Business as a Service are not only limited to messaging. It provides a variety of applications like democratising business functions, seamless access to core services amongst the verticals etc. Additionally, business management becomes much easier by the implementation of Business as a Service.

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Being an application of Everything as a Service (XaaS) model, it paves the way for businesses to be reasonable, i.e., payment as per usage. Such factors might very well increase the demand for Business as a Service.

We are living in the times of instant gratification. Verticals across the businesses want to immediately access the services which is delivered by someone else. The application of Business as a Service helps us achieve this using the cloud technology.

One of the biggest benefits of using this service is that the application of cloud technology is democratising the functionalities. This promotes the concept of crowdsourcing within the organisation, as a result of which only the best practices are applied across departments. This is anticipated to increase the demand for Business as a Service.

This also helps the enterprises to revamp the business processes and develop their existing products/services.

It is essential to understand that companies which have been operating for quite a long time cannot change their conventional systems on an immediate basis. However, with the usage of Business as a Service (BaaS), the companies can either rope in or discard what they wish to spontaneously on a real-time basis.

Thus, from the analysis of Future Market Insights, it is quite clear that “The urgency to implement new technologies to drive the fundamentally different ways to drive a business through the proper implementation of data driven communication, coupled with many other factors are expected to surge the demand for Business as a Service.”

Key Takeaways:

The anticipated CAGR during the forecast period is 20.2%.
The valuation of Business as a Service market as on 2022 is US$ 170800 million
The anticipated valuation of Business as a Service market in 2032 is US$ 1074100 million
By service type, the Software as a Service (SaaS) segment had the highest market share of 67.6% in 2021.
The large enterprises had a higher market share of 65.4% in 2021, as compared to SMEs, which had a share of 35.6%.
Based on the industry size, the IT & Telecom sector had the highest market share of 23.5% in 2021.
North American market had a market share of 33.6% in2021
European market had a share of 21.3% in 2021
Asia Pacific market had a share of 30.5% in 2021
The MEA market had a share of 6.6% and Latin American market had a share of 8% in 2021

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Competitive Landscape

With increasing cases of data theft and cybersecurity issues, the key players are looking at ways to empower cloud service with trust and transparency as per the compliance with GDPR requirements. This would certainly reaffirm commitments to global data protection laws and standards. Some of the recent developments in the competitive landscape are as follows:

In August 2022, Microsoft announced that the Microsoft Offensive Research & Security Engineering (MORSE) takes a three-pronged approach to securing code within the Operating System. Red, blue and green teams, each with a different role to play, help MORSE aggressively battle security threats, repair broken code and prevent issues from ever happening.
In July 2022, AWS announced AWS Wickr, which is an end-to-end encrypted enterprise communication, which allows secure collaboration across messaging, voice and video calling, file sharing, and screen sharing.
In August 2022, Google Cloud announced the launch of Data Studio, which is a self-service business intelligence and data visualization product, as a Google cloud service, enabling customers to get Data Studio on the Google Cloud Terms of Service.

Key Companies Profiled:

Microsoft
Salesforce
Adobe Creative Cloud
AWS
Alibaba Elastic Compute Service
Google Cloud
Engine Yard
IBM Cloud
Heroku

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Key Segments in the Business as a Service Market

By Service Type:

Software as a Service (SaaS)
Platform as a Service (PaaS)
Infrastructure as a Service (IaaS)

By Enterprise Size:

SME
Large Enterprises

By Industry:

BFSI
IT & Telecom
Retail
Healthcare
Manufacturing
Transportation
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Procurement as a Service Market is Expected to Progress at a CAGR of 7% from 2022 – 2032 | FMI

The Procurement as a service market was valued at US$ 6.7 Bn in 2022 and is expected to reach a valuation of US$ 13.3 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings, revenue through the Strategic Sourcing component grew at a CAGR of 7% during 2022-2032.

Strategic sourcing is a process that increases efficiencies across all spend categories, reduces supply risks through enhanced supplier selection, and improves pricing and forecasting visibility.

US Continue to dominate the procurement as a service market

The procurement as a service market in the US was valued at around US$ 2.2 Bn in 2021 and is estimated to reach a valuation of US$ 2.4 Bn in 2022, According to a research report published by ISG Provider Lens the covid-19 pandemic has accelerated the adoption of procurement as a service among the public sectors in US.

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The pandemic has shown the drawbacks of the traditional procurement process, which paced the demand for the digital transformation of the procurement process in the public sector. Many public sector organizations are using procurement as a service to increase efficiency and predictability of expenses of their procurement process which is expected to drive the market in the US. The procurement as a service market in the US has projected to reach a valuation of US$ 4.7 Bn by 2032.

“Procurement as a service provider are introducing AI, and machine learning to improve the procurement services” comments an analyst at Future Market Insights.

Procurement as a Service Market: Competition Insights

Procurement as a Service providers are performing merger and acquisition strategies to gain expertise and market share. The key companies operating in the procurement as a service market include Accenture, Infosys, GEP, Genpact, Proxima, WNS Denali, Capgemini, IBM, Wipro, HCL Technologies, Tata Consultancy Services(TCS), Xchanging, Aegis Components Inc., Corbus LLC, Bain & Company, CA Technologies, Hewlett Packard Enterprise Development LP, Skybox Security Inc, Palo Alto Networks, Inc and Cisco Systems, Inc.

Some of the recent developments by key providers of procurement as a service are as follows:

In May 2022, Bain & Company acquired Proxima, wherein the latter’s expertise in the procurement and supply chain sectors will improve Bain & Company’s existing procurement solutions portfolio. Proxima will operate independently under Bain & Company service line.
In February 2022, Bain & Company acquired ArcBlue, a leading procurement consulting across Asia Pacific region. ArcBlue will operate independently as Bain’s special procurement implementation service line. The acquisition will strengthen Bain’s existing procurement offerings and improve its operation in Asia Pacific.
In November 2021, Accenture acquired ClearEdge Partners, a firm focusing on procurement spend management. The acquisition will help Accenture to extend its expertise to help clients generate cost savings and gross more value form its existing IT investments.
In November 2021, Accenture and Icertis announced a strategic partnership that combines the latter’s Icertis Contract Intelligence (ICI) and Accenture’s digital transformation capabilities, which will help the clients to get better visibility into their contracts and help them to manage risks and the contracting process more effectively and efficiently.
In November 2021, WNS launched WNS FINSIBLE a set of banking solutions enabling FinTechs to efficiently streamline, manage and scale operations. FINISBLE provides an entire end-to-end value chain of the banking process, including deposits and payments, lending, risk& compliance customer service and advisory services. The offering is customizable and scalable to address the need of FinTech clients regardless of their operational maturity.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Procurement as a Service Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Procurement as a Service Market in terms of Component (Strategic Sourcing, Spend Management, Contract Management, Category Management, Process Management, Transactions Management) By Organization Size (Large Enterprises, Small and Medium Sized Enterprises) By Vertical (Manufacturing, Retail and consumer packed goods, Banking, Financial Services, and Insurance, IT and Telecom, Energy and Utilities, Healthcare, Travel and Hospitality, Others), across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

Key Segments Covered in Procurement as a service Industry Survey

Procurement as a Service Market by Component:

Strategic Sourcing
Spend Management
Contract Management
Category Management
Process Management
Transactions Management

Procurement as a Service Market by Organization Size:

Large enterprises
Small and Medium-sized Enterprises (SMEs)

Procurement as a Service Market by Vertical:

Manufacturing
Retail and consumer packaged goods
Banking, Financial Services, and Insurance (BFSI)
IT and Telecom
Energy and Utilities
Healthcare
Travel and Hospitality
Others (government, and media and entertainment)

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Procurement as a Service Market by Region:

North America Procurement as a Service Market
Latin America Procurement as a Service Market
Europe Procurement as a Service Market
Asia Pacific Procurement as a Service Market
Middle East & Africa Procurement as a Service Market

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Radiopharmaceuticals Market Expectations And Growth Trends Highlighted Until 2031

As per Future Market Insights (FMI), driven by rising cases of cancer and cardiovascular diseases, radiopharmaceutical market demand registered steady year-on-year growth at 4.90% CAGR.

Increasing development of radioisotopes to curb the cases of cancer have propelled the market demand, topping a valuation of US$ 6,107.2 Mn in 2021. Rising cases of prostate and breast cancer, especially in developed countries including the U.S., the U.K., and Germany, have increased the application of radiopharmaceuticals.

Increasing preference of non-invasive medical therapies and production of radioisotopes for the treatment is another factor that will stabilize the growth of radiopharmaceuticals market. Based on this, FMI projects the market is poised to expand at over 4.66% CAGR during the forecast period of 2031-End.

Government initiatives and research activities undertaken to develop advanced radioisotopes for the treatment of cancer and to develop novel therapeutics will boost the demand. Also, introduction of novel technologies such as Positron Emission Technology and others in nuclear imaging systems will bolster growth.

However, due to the global shutdown witnessed in the FQ-20 in response to the COVID-19 outbreak, growth declined considerably. Suspended production of radioisotopes and disruption in the research activities delayed the deployment of projects in the healthcare sector.

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Although, with increasing development activities and increasing commercialization of radiopharmaceuticals by industry giants have picked up the pace for the growth of market. Alongside this, increasing cases of cancer will accelerate the development of nuclear medicines in the field of radiopharmaceuticals.

Prominent Players:

Siemens AG
Positron Corporation
Novartis (Advanced Accelerator Applications)
Curium
GE Healthcare
Lantheus Holdings Inc.
Sotera Health LLC
Bayer AG
Eckert & Ziegler

Key Takeaways from FMI’s Radiopharmaceuticals Market Study

In terms of application, oncology will contribute over 50% of global market share owing to the rising prevalence of cancer across the globe.

Cyclotrons are expected to be the primary source of radiopharmaceuticals, accounting for maximum market share.

Based on radioisotope type, technetium-99 will remain highly preferred radioisotope in the global radiopharmaceutical market.

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The U.S. will retain its global dominance backed by the high cancer and cardiovascular cases rising in the country

India will emerge as lucrative market owing to the favorable government initiatives promoting the radiopharmaceuticals market

Germany and the U.K. are spearheading the growth of Europe market, which is projected to grow at over 4.9% CAGR

“Increasing research and development initiatives aimed at the production of advanced radioisotopes and novel technologies will improve growth prospects for the leading players in the radiopharmaceuticals market,” says the FMI analyst.

Competitive Landscape

Leading radiopharmaceuticals market players are focusing on expanding their customer base through strategic mergers and acquisition. Increasing research and development activities to develop advanced radioisotopes for the cancer treatment is another core strategy adopted by leading players.

Top 5 players including Siemens AG, GE Healthcare, Curium, Lantheus Holdings Inc., and Eckert & Ziegler are dominating the global radiopharmaceuticals market, contributing over 90% of revenue share.

In March 2021, Novartis announced the commercialization and obtained the rights to develop the therapeutic applications of Fibroblast Activation Protein (FAP) targeting agents including FAPI-46 and FAPI-74, through an assignment agreement with iTheranostics, Inc., an affiliate of SOFIE Biosciences, Inc.

Along with it the company announced the production and commercialization of new nuclear medicine, 18F sodium fluoride radiopharmaceutical in France.

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In November 2020, Blue Earth Diagnostics, a leading molecular imaging diagnostic company, unveiled that their manufacturing company, Nucleis has manufactured and shipped their first doses of rhPSMA-7.3 (18F), an investigational Prostate-Specific Membrane Antigen (PSMA)-targeted radiohybrid PET imaging agent, for patients with prostate cancer.

Another industry giant, Jubilant Pharma Limited Company, in 2019, announced the integration of its radiopharmaceutical drug development and manufacturing business with its radio-pharmacy business into a global radiopharmaceutical brand, Jubilant Radiopharma.

Radiopharmaceuticals Market by Category

By Radioisotope Type:

Technetium-99
Fluorine-18
Iodine-131
Leutetium-177
Yttrium-90
Gallium-68
Gallium-67
Rubidium-82
Iodine-123
Iodine-125
Indium-111
Others

By Application:

Oncology
Cardiology
Gastroenterology
Neuroendocrinology
Neurology
Nephrology
Others

By Source:

Cyclotrons
Nuclear Reactors

By End-User:

Hospitals
Diagnostic Imaging Centers
Ambulatory Surgical Centers
Cancer Research Institute

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Chlorine Market | Future Plans and Industry Growth with Quantitative And Qualitative Analysis by 2032

In 2022, the world market for chlorine is estimated at 14.35 billion US dollars. The market is forecast to reach nearly US$21,862.3 million by 2032, with an increasing CAGR of 4.3% from 2022 to 2032. Chlorine is yellowish-green in color and exists in a gaseous state at average temperature .

It is the second lightest member of the halogen family. The demand for chlorine is increasing with increasing applications in the pharmaceutical and agrochemical industries. Increasing demand for end-use segments such as polyvinyl chloride (PVC) and ethylene dichloride (EDC) continues to drive growth in the global chlorine market.

This Chlorine market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape.

Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Digital Instrument Clusters market.

Chlorine, the second-highest lightest chemical of halogen family scientifically appears between fluorine and bromine in periodic table of chemistry. Most Important compound derived from chlorine is common salt. Chlorine was first synthesized around 1630 in a series of chemical reaction.

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Chlorine Market outlook

Chlorine is most vital substance used in manufacturing of PVC, chlorinated chemicals, water treatment etc. Rapid advancement in chemical engineering is serving as a catalyst to chemical market.

Chlorine is considered as a most valuable chemical in industry and expected to maintain the same trajectory. It has contributed immensely to the growth of numerous industries across globe and will continue to be pioneering chemical industry. The market is expected to grow with CAGR of 4.9 percent during the forecast period.

Chlorine Market: Growth factor and restraint

The market of chlorine looks demanding and will continue to drive industrial growth in near future. The economic outlook of chlorine market is witnessing a burgeoning growth owing to its demand across various sector.

For instance, it is being used extensively in production of durable plastics. High-rise buildings where gravity, rain and sunlight can deteriorate conventional pipes, chloride pipes on other hand are stronger and more durable.

Rapid urbanization and industrialization are leading to shortage of clean and hence chlorine water treatment plant are in high demand. Chlorine market is flourish in pharmaceutical industries where its demand its very high, especially in antiseptic and medicines.

The market supply chain is however weakened due to recent CO VID19 pandemic. Furthermore, strict regulations and government policies on chemical industries is not favourable options for new entrants There has been instances of hazardous accidents during transportation of chlorine, which is highly reactive and taxological in nature which further limits the growth of chlorine market.

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Chlorine Market: Regional Analysis

In-depth analysis reveal that North America is leading the market, followed by Europe and Asia-Pacific. Middle east and Latin America are emerging as an attractive market for chlorine and derived products.

Developing nations like China and India where rapid urbanization is contaminating ground water. Chlorine water treatment plants are highly demanding in these countries which account for 3 billion of world population altogether.

Furthermore, cleanliness and sanitation are being considered as a top priority in developing nations, chlorine is a fundamental substance used in all public sanitation program and cleanliness drive.

Key Players Benchmarking The Chlorine Market

Some of the key players in the Chlorine market are:

BASF SE
Olin Corporation
The Dow Chemical Company
Occidental Petroleum Corporation
Ercros
PPG Industries
Hanwha Chemical Corporation
Formosa Plastics Corporation
De Nora
Ineos Group Ltd
INOVYN
Tata Chemicals Limited
Xinjiang Zhongtai Chemicals Co.Ltd
Tosoh Corporation

An Eye On The Start-Ups

The chlorine start-ups are generating several processor solutions in the market by making use of latest technology to decrease costs and render energy without harming the environments in the past years.

NX Filtration, Dutch start-up develops hollow fibre membranes and modules for nanofiltration and ultrafiltration. Its Ultra range of ultrafiltration membrane is based on modified polyethersulfone (PES) chemistry that retains microorganisms, yeast, and floating particles while enabling proteins, salts, and small organic molecules. Moreover, these membranes have superior chlorine tolerance, pH and enable higher control of the membrane fouling rate.

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Key Segments Of The Chlorine Market

By Application:

Isocyanates and Oxygenates
EDC/PVC
Inorganic Chemicals
Chloromethanes
Solvents and electrolysis
Pharmaceuticals
Electronics

By End Use:

Paper and Pulp
Water Treatment
Chemicals
Plastics
Pesticide
Durable Pipes

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Pyrogenic Silica Market is Expected to Accumulate a Value of US$ 623.3 Million by Registering a CAGR of 5.1% by 2032

The global pyrogenic silica market is anticipated to reach a valuation of US$ 623.3 Mn by 2032, with sales growing at a reasonable CAGR of 5.1% from 2022 to 2032. The target market is likely to reach an estimated US$ 379 Mn in 2022. The product has garnered usage in various end-use industries. Mass application in the paints and coatings industry the growth of pyrogenic silica over the forecast period.

A special type of silica that contains microscopic droplets of amorphous silica is categorized as pyrogenic silica. The product is gaining large-scale usage in diverse industrial verticals due to its distinctive particle features and large surface area. Pyrogenic silica is finding applications in paints, adhesives, coatings, plastics, sealants, inks, toners, cosmetics, food additives, deformers, and others.

However, it is its mass application in the paints & coatings sector that primarily propels the expansion of the target market. In the paints & coatings sector, pyrogenic silica is used to control the rheologic attributes; to act as an anti-setting agent or as a thixotropy agent, or to protect from rust and corrosion.

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In addition to this, the elevated demand for decorative items, furniture, and automotive is also anticipated to spur the demand for pyrogenic silica resulting in positive growth for the target market. Pyrogenic silica acts as a universal thickening agent and an anti-caking agent during the formulation of paints, adhesives, and coatings. It is also used as an excipient in pharmaceutical products.

In the upcoming years, the target market is expected to experience a swell in demand from the personal care sector because of its application in the production of toothpaste and creams. All of these considerations have a positive impact on the target market. Other factors that supplement the global growth of the pyrogenic silica market during the projected period are urbanization, industrial growth, and accelerated economic growth in developing economies.

“Rising application in end-use industries like pharmaceutical, beauty & personal care, adhesives, and others will supplement the global sales of the pyrogenic silica market over the forecast period,” says an FMI analyst.

Key Takeaways:

Rising demand for environmentally friendly paints stunts the market growth.
In 2022, the pyrogenic silica market in North America will account for 23.8% of the market share.
Europe will hold 19.4% of the pyrogenic silica market share by the end of 2022.
Hydrophilic pyrogenic silica segment will hold 55% of the market share.

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Competitive Landscape

Evonik Industries AG, Akzo Nobel N.V., SOLVAY, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation, Bayer AG, PPG Industries Inc., Fuji Silysia Chemical Limited, Jilin Shuangji Chemical New Material Co Ltd, Zhejiang Wynca Chemical Industry Group Co Ltd, Shandong Ruiyang Silicon Industry Technology Co., among others are some of the major players in the pyrogenic silica market profiled in the full version of the report.

Leading market players are concentrating on entering markets in emerging economies to expand their manufacturing facilities. Some of the other businesses in the market are keen on introducing and developing new products for different end-user industries.

More Insights into Pyrogenic Silica Market Report

In its latest report, FMI offers an unbiased analysis of the global pyrogenic silica market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032.

To understand the global market potential, growth, and scope, the market is segmented on the basis of type (pyrogenic silica by hydrophilic fumed silica, pyrogenic silica by hydrophobic fumed silica), application (pyrogenic silica by paints, pyrogenic silica by adhesives, pyrogenic silica by coatings, pyrogenic silica by plastic, pyrogenic silica by toner, pyrogenic silica by cosmetics, pyrogenic silica by food additives, pyrogenic silica by other), and region.

According to the latest FMI reports, based on segmentation, the hydrophilic pyrogenic silica segment is anticipated to dominate the market. Owing to its excellent insulating properties at high temperatures, the segment will hold about 55% of the overall market share.

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Based on region, the pyrogenic silica market in North America is projected to exhibit substantial market growth due to advancing demand from the pharmaceutical, personal care, and beauty industries. The target market in this region will hold about 23.8% of the market share by the end of 2022. Similarly, Europe’s pyrogenic silica market, too, will expand at a steady rate over the forecast period.

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Breast Pumps Market Is Likely To Reach US$ 2.45 Billion By 2030 – Future Market Insights, Inc.

Breast pump market demand are predicted to grow at a CAGR of 4.6% from 2022 to 2030, reaching a market worth of US$ 2.45 billion by the end of that year, up from US$ 1.72 billion in 2022.

Report highlights the potential factors fueling the revenue growth of the breast pump market globally. A breast pump is a medical device used to elicit breast milk from lactating women. Breast pump products are available in two models, including manual breast pumps and electrical breast pumps. Electric breast pumps are available in two formats: single electric breast pumps and double electric breast pumps.

This report analyzes total revenue generated through sales of breast pump products, which include manual breast pumps and electric breast pump devices for breast feeding. Breast pump products are increasingly becoming a necessity among working women across the world as the inclusion of women in workforce is increasing globally. Since the last few years, the percentage of working women in workplaces across the globe has been declining (46.2% in 2019 as compared to 50.9% in 1990 as per “Catalyst”).

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Breast Pumps Market Segmentation:

By Product Type

Open System Breast Pumps
Closed System Breast Pumps

By Technology Type

Electric Breast Pumps
- Single Electric Breast Pumps
- Double Electric Breast Pumps
Manual Breast Pumps

By End User

Homecare Settings
Healthcare Facilities

By Region

North America
Latin America
Western Europe
Eastern Europe
Japan
Asia Pacific Excluding Japan (APEJ)
Middle East & Africa (MEA)

Emerging economies are witnessing impressive growth in healthcare spending. This can be attributed to improvements in healthcare technology and changing lifestyle, which is fueling the demand for breast pumps among urban women. According to WHO, the global healthcare spending rose by 2.4% in 2014 over 2013. Healthcare spending is growing at a rate of 5% in developing regions. Rise in healthcare expenditure is expected to boost overall adoption of breast pumps among women, especially in Asia Pacific.

Breast pump adoption is as high as 85% among breast feeding women at 3 months post-birth. Furthermore, marketplace discussions indicate that the availability of breast pump accessory products will also encourage the adoption of electric breast pumps in developed markets. In this regard, infant product manufacturers are increasingly bundling other pump-related products, such as nursing bras and breast pumping bras, to sell complete package of breast pumps, which is anytime more profitable than isolated sales. Electrical breast pump packages find more adoption than manual breast pump products due to better volume of output. These innovative solutions are projected to fuel breast pump market revenues in the global electric breast pumps market during the forecast period.

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Key Market Players:

Koninklijke Philips N.V.,
Pigeon Corporation,
Newell Brands,
Medela Inc.,
Ameda Inc.,
Hygeia II Medical Group Inc.,
Bailey Medical,
Mayborn Group Ltd. and Linco Baby Merchandise Works Co., Ltd.
Others

The Electric breast pump market is more technologically advanced with higher product pricing and low penetration. This category of breast pump comprises few global breast pump manufacturing companies. Potential new entrants in breast pump market are trying to capture and improve their market position by using innovative marketing strategies, such as inorganic growth. Breast pump manufacturers are expanding their product portfolio using latest technologies.

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Availability of BPA free breast pump products is fuelling breast pump adoption in developed as well as more the affluent markets in developing regions. In the recent past, breast pump manufacturers have begun offering bisphenol A or BPA-free breast pump products to increase sales. BPA is a chemical used to make milk container or feeding bottle rigid and more resistant and has been associated with adverse health effects, such as neural and fertility issues. Examples of some BPA free breast pump products are Philips Avent Manual Comfort Breast Pump from Koninklijke Philips N.V. and BPA-free breast pumps by Medela, Inc.

Rapid rise in promotional/supporting campaigns for Breast Pump products is fuelling revenue growth of the breast pump market. In November 2012, leading breast pump manufacturer Medela launched a campaign titled ‘Virtual Human Milk Collection Campaign’ to commemorate Prematurity Awareness Month, where the breast pump manufacturer encouraged and demonstrated the importance of breast milk for infants and babies. Medela has also donated US$ 30,000 worth of breastfeeding related products to various neonatal intensive care units across the U.S.

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Protective Clothing Market is Anticipated to Expand at 6% CAGR Over the Forecast Period

The global protective clothing market size is estimated to cross US$ 10.32 Bn in 2022 and is anticipated to expand more than 6% CAGR during the forecast period of 2022-2030. Work related injuries and deaths, tight government policy and new product development are the primary factors for protective clothing market. Protective clothing is expected to provide protection against flames, chemicals, biological agents, punctures, insects, rain, cold, ultraviolet (UV) radiation and extreme heat etc.

Few notable developments are super repellent coatings, electrospun nanofibers, fibres with novel cross sections, intelligent textiles, and biomimetic (inspired by nature) materials. Research investment in areas like nanotechnology and intelligent materials lead to new technologies which brings advance & new protective clothing in the market.

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Outbreak of Covid-19 Disease Surge in Demand for Protective Clothing across the Globe

The outbreak of Covid-19 pandemic which had started in China, now spread all over the world. As of 7^th April, 2020, the total positive cases recorded were 1.4 Mn and 81,049 total number of deaths. It has effected more than 209 countries and territories so far.

Apart from some essential products and services, all businesses are temporarily closed. As per World Economic Forum, The US and Eurozone’s economies are expected to recover to its full swing until 2023. The pandemic has raised a sudden need of protective clothing among doctors, nurses, and other health care professionals.

The use of coverall and lab coats are in high demand for medical professional, lab testers etc. Companies are facing enormous demand for protective clothing, and as a result, companies are currently expanding their production capacity to meet growing market demand. Lakeland Industries Inc., DuPont, have expanded their production capacity of protective clothing. Many other companies also started production of protective clothing to meet the domestic and global demand to fight against Covid-19.

Key Takeaways from the Protective Clothing Market Study

East Asia is expected to dominate the global protective clothing market owing to rise in demand for protective clothing in hospitals to eliminate spread of disease and treat coronavirus patients coupled with significant presence of prominent companies in China and Japan. Moreover, large number of low cost labour base and availability of raw material in East Asia are also the factors for the growth of protective clothing market in the region.
According to FMI, coverall segment are expected to see higher sales than its counterpart such as vest, jackets, aprons etc. Growing need for protection in chemical and manufacturing sector and healthcare industries have propelled the sales of coverall.
Non-Woven material are mostly used in protective clothing market. It is expected to hold the largest share during the forecast. Advancement in Nano technology and materials such as electrospun nanofibers, fibers with novel cross sections, intelligent textiles, and biomimetic materials are expected to see a robust growth during the forecast.
Manufacturing sector holds the largest share in the global protective clothing market. However, healthcare sector is expected to grow at significant CAGR owing to high demand for coverall, lab coats, and medical grown. Moreover, ongoing coronavirus pandemic has increased an enormous demand for protective clothing across the globe.

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Manufacturing Capacity Expansion to Increase Product Supply

Currently, the organizations in the market are focused on expanding their manufacturing base to fulfil the rising demand. The WHO (World Health Organization) has urged the governments of countries to work with companies in order to increase the production of necessary medical and healthcare protection clothing and equipment supplies in view of the global pandemic outbreak.

A well-established company DuPont has increased its production of Tyvek hazmat suits which is important to protect the doctors and nurses fighting the pandemic in the frontline.

Some of the key players operating in the protective clothing market are 3M Company, Ansell Limited, Kimberly Clark Corp., Teijin Limited, Sioen Industries, Lakeland Industries, Inc., W. L. Gore & Associates, Workrite Uniform Company, Inc., Cetriko, Lakeland Industries, Inc.,Ballyclare Limited, Glen Raven, DuPont and others.

Who is winning?

Several leading companies are expanding their production capacity. Extensive R&D, merger & acquisition and partnership activities to come up with new technologies which can change the market landscape of protective clothing.

In March 2020, Lakeland Industries Inc. has expanded its manufacturing capacity by 30% to support market for the requirement of protective clothing.
In 2018, Radians, a manufactures industrial protective clothing had acquired Neese Industries, Inc. to increase its production capability.

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Global Protective Clothing Market by Category

By Product Type, Global Protective Clothing Market is segmented as:

Coveralls
Vests
Jackets
Aprons
Others (surgical gowns, laboratory coats etc.)

By Material Type, Global Protective Clothing Market is segmented as:

Non-Woven
Woven
Knit

By End Use Industry, Global Protective Clothing Market is segmented as:

Manufacturing
Oil & Gas
Healthcare
Others (transportation, firefighting etc.)

By Region, Global Protective Clothing Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Get Valuable Insights into Protective Clothing Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global protective clothing market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The protective clothing study reveals compelling insights on the protective clothing market on the basis of product type (coverall, vest, jacket, apron, others), material type (non-woven, woven, knit), end use industry (manufacturing, oil & gas, healthcare, others), demographics (men, women), and sales channel (offline, online) across all regions.

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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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Sodium Chlorate Market to Receive Overwhelming hike USD 4,619.9 Mn in Revenues by 2032

The Sodium chlorate market share is expected to reach US$4,619.9 million in 2032 Dyes, Wood, pulp and and Paper Industry will drive the market growth during the forecast period. According to FMI, the sodium chlorate market is estimated at US$3,217.9 million. in 2022 and is expected to increase at a CAGR of 4.1% in the forecast period from 2022 to 2032.

Sodium chlorate is primarily used for the manufacture of chlorine dioxide, which acts as a bleaching agent in the paper and pulp industry. Sodium chlorate is white/off-white in colour and is odourless. Sodium chlorate is highly soluble in water. Sodium chlorate in its pure form is inflammable but during its decomposition, it releases oxygen, hence it acts as an accelerant in presence of flammable substances.

Sodium chlorate is used for the extraction of uranium and vanadium in the mining industry. Sodium chlorate is also used as herbicide in weed control application. In the recent years, sodium chlorate has been extensively utilized in the manufacture of chemical intermediates such as potassium chlorate and sodium perchlorate.

The overall market for sodium chlorate is projected to remain positive, however, it will exhibit a slower growth over the forecast period due to the availability of alternatives such as hydrogen peroxide that can be used for bleaching pulp.

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Global Sodium Chlorate Market Dynamics

Global Sodium Chlorate Market Drivers

The global sodium chlorate market is majorly driven by the growth in the paper and pulp industry. As about 80-90% of the overall sodium chlorate consumption is for the manufacture of chlorine dioxide, which is used in the paper and pulp industry, the demand for sodium chlorate depends significantly on the growth of paper and pulp industry.

Global Sodium Chlorate Market Restraints

One of the major factors restraining the growth of the global sodium chlorate market is the availability of alternatives such as hydrogen peroxide and ozone, which can be used for bleaching of pulp.

Moreover, with the increasing popularity of e-media, there has been a slowdown in the use of papers for the newspaper publishing and similar sectors. Shift in consumer preferences is observed on the basis of availability and cost of products. The aforementioned factors are expected to hinder the market growth to a great extent.

Global Sodium Chlorate Market Trends

There has been an increasing use of sodium chlorate for niche applications such as for the production of oxidation candles for aircrafts and submarines. Sodium chlorate is also used for the surface treatment of metals in the automotive and electronics industries.

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Global Sodium Chlorate Market Regional Outlook

The forecast for global sodium chlorate market is expected to be positive in the coming years exhibiting slow growth over the forecast period. Asia pacific holds a dominant share in the global sodium chlorate market and is projected to remain dominant in the global market throughout the forecast period due to the large base of paper and pulp industry in the region.

Moreover, China is a leading consumer of sodium chlorate. Along with paper and pulp, China has a significant base for the use of sodium chlorate in niche applications such as fireworks.

Regions such as Latin America has also exhibited significant growth in the paper and pulp industry, hence, there is a substantial demand for sodium chlorate in the region. Japan and MEA are projected to hold relatively small shares in the global sodium chlorate market. The regions such as North America and Europe are expected to witness sluggish growth over the forecast period, 2017-2027.

Global Sodium Chlorate Market Participants

Examples of some of the market participants identified across the value chain of the global sodium chlorate market are, Akzo Nobel N.V. (Eka Chemicals), Kemira, ERCO Worldwide, Chemtrade (Canexus), Arkema, Tronox Limited, Ercros S.A and Inner Mongolia Lantai Industrial among others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

Global Sodium Chlorate Market Segmentation

The global sodium chlorate market can be segmented on the basis of application and region.

On the basis of application, the global sodium chlorate market can be categorized as:

Bleaching agent
Oxidizing agent (chemical synthesis)
Herbicide

On the basis of form, the global sodium chlorate market can be segmented into:

Crystalline form
Solution form

On the basis of end-use industry, the global sodium chlorate market can be segmented into:

Paper and Pulp Industry
Fireworks
Chemical Industry
Mining
Aerospace and Marine
Electronics
Automotive

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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