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It is anticipated that the global veterinary antibiotics market is worth US$ 10,904.3 million in 2022. The veterinary antibiotics market is expected to expand at a sluggish CAGR of 5.8%, and reach US$ 20,277.5 million by 2032. Over the past few years animal antibiotics have accounted for major share in animal health industry owing to the rising need to treat, control or prevent animals against diseases. These are also used as growth promoters and play a vital role in maintaining animal health. Antibiotics are generally the anti-bacterial compounds that have a direct action on bacteria, thereby preventing the infection in livestock and companion animals.

Growing concerns over antibiotic resistance in human beings coupled with rising demand for milk, eggs and meat is influencing the veterinary antibiotic market across the globe. Rising prevalence of zoonotic disease worldwide is one of the major factor fueling the demand for veterinary antibiotics both in livestock animals as well as companion animals.

However, many farm and pet owners supported by veterinary healthcare activists are shifting towards vaccines owing to the harmful effects, such as antibiotic resistance, caused by long term usage of antibiotics. Also, stringent regulations imposed by FDA on use of prescribed antibiotics by the veterinarians is also hindering the market for veterinary antibiotics at present. Whereas in long run, regulations imposed by U.S. FDA are anticipated to pace the demand for these antibiotics.

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Veterinary Antibiotics Market: Drivers and Restraints

Some of the factors such as rising awareness about zoonotic disease, rising incidence of disease outbreaks in animals, growing demand for animal derived food products, implementation of stringent regulations to prevent animal diseases and elevating animal population and pet adoption are anticipated to drive the market for veterinary antibiotics across the globe. Also, the growing demand for pet health insurance coupled with rise in healthcare expenditure is propelling the demand for veterinary antibiotics globally.

However, increasing antibiotic resistance among food producing animals along with regulatory authorities restricting their use is restraining the growth of veterinary antibiotics market. Also, presence of competitive replacement products such as vaccines and probiotics are also limiting the usage of antibiotics to treat animals on large scale.

Veterinary Antibiotics Market: Overview

The market for the veterinary antibiotics is increasing due to the growing animal healthcare industry coupled with continuous development in this sector. On the basis of product type, tetracycline is anticipated to hold the largest market share in veterinary antibiotics market on the account of widespread use in food producing animals. Also, the rising awareness among people regarding essential pet health care is facilitating the market for veterinary antibiotics.

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Veterinary Antibiotics Market: Regional Overview

On the basis of region, veterinary antibiotics market is segmented into North America, Latin America, Asia-Pacific excluding Japan, Eastern Europe, and Western Europe, Japan MEA and others. Among these, North America accounts for major share in veterinary antibiotics market, whereas, Asia-Pacific is anticipated to register the fastest growth at highest CAGR during the forecast period owing to presence of lenient regulations. However, unlike developed countries, the developing nations are projected to experience large demand for veterinary antibiotics due to less stringent regulations imposed on their usage.

Veterinary Antibiotics Market: Key Players

Some of the key players in the veterinary antibiotics market involves Zoetis, Inc., Merck & Co., Inc., Bayer AG, Sanofi, Eli Lilly and Company, Ceva Sante Animale and 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 categories such as market segments, geographies, type of product and applications.

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The global thoracolumbar stabilization devices market size is projected to be appraised at US$ 2,007.7 million by 2032, up from US$ 1,149.6 million in 2022, advancing at a CAGR of 5.2% from 2022 to 2032.Thoracolumbar is related to the thoracic and lumbar region of the spine. Thoracolumbar stabilization devices are used to reduce or eliminate the instability in the spine regions. These devices are an alternative method for the spinal fusion.

Thoracolumbar stabilization procedure retains some of the mobility in the spine, whereas fusion eliminate all the movement with complete stabilization. These devices also help in providing a firm support to the thoracic spine and straightening the curve.

Thoracolumbar Stabilization Devices Market: Drivers and Restraints

Thoracolumbar stabilization devices market is expected to be driven by the increasing prevalence of spine injury and fractures. Increasing demand for non-invasive surgical procedures is also expected to boost the growth of thoracolumbar stabilization devices market. Increasing prevalence of spine deformities among older population is also expected to boost the growth of thoracolumbar stabilization devices market.

High initial cost associated with these devices can be a restraint to the growth of thoracolumbar stabilization devices market.

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Thoracolumbar Stabilization Devices Market: Overview

Thoracolumbar stabilization devices market is expected to show significant growth over the forecast period. Spinal injury and chronic back pain are among the most prevalence conditions and increasing prevalence of these conditions is expected to drive the growth of thoracolumbar stabilization devices market.

Titanium devices segment is expected to be highest revenue generating market as these devices are light in weight and more dynamic in nature. Posterior thoracolumbar stabilization devices are expected to generate higher revenue than anterior devices as generally all surgical stabilization of thoracolumbar region starts with the posterior implant.

Market of thoracolumbar stabilization devices is expected to be continuously growing due to cost effectiveness and better management of disease as compare to analgesics. These devices are available in variety of shape and size and provide options to choose among variety which is expected to increase the revenue of thoracolumbar stabilization devices market.

Thoracolumbar Stabilization Devices Market: Region Wise Outlook

Geographically, the global thoracolumbar stabilization devices market can be segmented into the regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. North America is biggest and most attractive market for the thoracolumbar stabilization devices due to presence of major players, awareness among people, better healthcare infrastructure and reimbursement policies.

Followed by which is Europe. Asia Pacific region is expected to be fastest growing thoracolumbar stabilization devices market due to large patient pool, increasing healthcare infrastructure and awareness among people.

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Thoracolumbar Stabilization Devices Market: Key Players

Some of the market participants in the global thoracolumbar stabilization devices market are, B. Braun Melsungen AG, Zimmer, Inc., Coligne AG, Yellowsteps SAS, Medyssey Co. Ltd., DePuy Synthes Company, Aesculap Implant Systems, LLC, Ulrich Medical, Medtronic Public Limited Company and Stryker. Companies are focusing on advancement of devices and development of minimally invasive screws and roads.

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 grades.

Key Segments Profiled in the Thoracolumbar Stabilization Devices Market Survey

By Device Type:

• Anterior Stabilization Device
• Posterior Stabilization Device
• Retractors

By Material:

• Titanium
• Stainless Steel

By End Use:

• Hospitals
• Clinics
• Ambulatory Surgical Centers

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa
• Europe

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The osteonecrosis treatment market is like to reach US$ 461.7 million by 2032, up from US$ 275.3 million in 2022, expanding at a CAGR of 4.80% during the forecast period.

Osteonecrosis is a disease associated with reduced blood flow to the bones. With the little blood flow, bone starts to die. Osteonecrosis is also known as aseptic necrosis, ischemic necrosis, and avascular necrosis. Osteonecrosis can be observed in any part of the bones, the knees, shoulders, and hips are mostly affected. It is caused by severe trauma that affects the blood supply to the bones and also idiopathic in nature.

In the early stages osteonecrosis is asymptomatic and in late stages, osteonecrosis mainly includes chronic pain, limited movement, and fractures. Osteonecrosis treatment mainly includes nonsurgical treatment and surgery. Non-surgical osteonecrosis treatment is used in the early stages for short term pain relief. It mainly includes medications like NSAIDS for reducing pain and swelling, blood thinners and cholesterol lowering drugs.

In most of the cases, surgery is required to treat osteonecrosis. They are core decompression surgery for increasing the blood flow to the bones, osteotomy for reducing stress on the joint, bone graft for replacing damaged bones and total joint replacement. Osteonecrosis is most common in the patients with HIV, cancer, Gaucher’s disease, lupus, caisson disease, gout, vasculitis, osteoarthritis, osteoporosis and etc.

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Osteonecrosis Treatment Market: Drivers and Restraints

Osteonecrosis Treatment market primarily driven by a key factors such as the increasing incidence of osteonecrosis, the demand for non-invasive treatment and increasing dependence on surgery to cure osteonecrosis is driving the growth of the Osteonecrosis Treatment market.

The market is likely to grow owing to the increasing awareness regarding non-invasive method of osteonecrosis treatment, which is expected to fuel the growth of Osteonecrosis Treatment market. Osteonecrosis is asymptomatic and idiopathic in nature, which raising the burden on patient pollution and it is also associated with people of any age group.

If osteonecrosis is left untreated, complications associated with it is also high, likewise there is a high chance of developing osteoarthritis if is left untreated. So, there is high demand for osteonecrosis treatment and act as a driver of the burgeoning growth of the Osteonecrosis Treatment market.

There is no evidence based results showing the best way to treat osteonecrosis and it acts as a restraint in the growth of the osteonecrosis treatment market

Osteonecrosis Treatment Market: Market Overview

Global osteonecrosis treatment market has witnessed a robust growth due to increasing demand for non-invasive treatment methods like NSAIDS, blood thinners, and others. The global osteonecrosis treatment market is expected to expand due to increasing prevalence, rising healthcare burden of osteonecrosis among different age groups. Osteonecrosis treatment market has a presence of many regional players which have a huge market share in emerging countries operating at regional or country level.

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Osteonecrosis Treatment Market: Region-Wise Overview

Global osteonecrosis treatment market segmented into following regions North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and the Middle East and Africa. North America is dominant in the global osteonecrosis treatment market mainly due to the well-established players.

In North America, particularly the USA is dominating due to the high adoption of osteonecrosis treatment methods. Economic conditions in the APAC region are set to drive the osteonecrosis treatment market to new heights. European and APAC are fastest growing region due to rising penetration of osteonecrosis treatment methods.

Growth in the Middle East and Africa region is considerably less when compared to the other regions. However, North America would maintain its position in the osteonecrosis treatment market, though, we are anticipating emerging economies such India, China, Brazil, to have the highest growth rate in osteonecrosis treatment market.

Osteonecrosis Treatment Market: Key Participants

Some of the key participants in the osteonecrosis treatment market mainly include hospitals, clinics, and ambulatory surgical centers. Companies are mainly focused on R&D to strengthen core competencies of the company’s product portfolio.

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 includes 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.

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The stone analysis software market is poised to witness a CAGR of 3.2% during the forecast period. Over this projection period, the stone analysis software market share is estimated to reach a net worth of US$ 72.9 Million by 2032, improving from the current valuation of US$ 51.7 Million in 2022.

Kidney stone analysis test is widely adopted throughout the world because the people who had kidney stone have more chances of reoccurrence of stone. Wherever, stone analysis software plays a vital role to detect the chemical compound of kidney stones by using kidney stone analysis tools. Stone analysis software is capable of enhancing clinical results, and also improves the cost effectiveness of the treatment Stone Analysis software is based on the various algorithm such as TexRAD or other and combines image handling options with graphics interface to construct a user-friendly interface.

Stone Analysis software is systematized in modules consisting specific needs and offers personalized planning options and evaluation tools. Stone Analysis software is also adopted for training purposes as it offers intuitive workflows coupled with a manageable interface.

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Stone Analysis Software Market: Drivers and Restraints

The market for Stone Analysis software is primarily driven by increasing demand for minimally invasive surgical procedures by surgeons and patients. In addition, increasing prevalence and incidence of nephrolithiasis also boost the growth of stone analysis software market. For instance, according to the research conducted, Stone disease is common with the lifetime risk of stone formation in the US exceeding 12% in men and 6% in women, and approximately millions of people affected by the stone disease on a global level. However, low awareness among patient in emerging countries, the high cost of software and lack of highly skilled professional are the major obstacles in driving the market growth of stone analysis software.

Stone Analysis Software Market: Overview

Stone Analysis software is widely adopted due to increasing prevalence of urolithiasis, especially high rate of kidney stone reoccurrence technological development in minimally invasive procedure and improvement in kidney stone management devices further increase the demand of stone analysis software which is expected to boost the growth of stone analysis software market.

Furthermore, according to National health and nutrition examination survey: annually three in 20 men and two in 20 women have prevalence of kidney stones globally. In 2012, the prevalence of kidney stones in men was 10.6% and was 7.1% in women .Companies involved in strategic collaboration, merger/acquisition and increasing investments in research and development to make cost-effective product portfolio. Stone analysis software market has high growth potential which is likely to attract new companies over the forecast period

Stone Analysis Software Market: Region-wise Outlook

In terms of geography, Stone Analysis software market has been divided into seven regions including North- America, Eastern Europe, Western Europe, and Asia- Pacific excluding Japan, Japan Middle-East & Africa, and Latin America. The market in North America for Stone Analysis software is expected to remain the dominating region owing to the developed and improved healthcare facilities in these regions. In addition, increasing demand for minimally invasive surgical procedures and higher awareness is also impelling the growth of Stone Analysis software market.

The stone analysis software market in the Asia Pacific excluding Japan is expected to emerge as a fastest growing region owing to the large percentage of diseased population in these regions (China and India). The stone analysis software market in Latin America is also anticipated to show a positive growth over the forecast period owing to the improving healthcare infrastructure and increasing trend of medical tourism in countries such as Brazil, and Argentina. The region such as the Middle East & Africa is anticipated to show a steady growth of stone analysis software over the forecast period.

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Stone Analysis Software Market: Key Market Participants

Some of the Stone Analysis software participants are Stone Profit Systems, Stone Checker, and 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.

Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East & Africa

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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The chlorinated polyethylene resins and elastomers market is anticipated to generate US$ 600 million by 2022 and US$ 1,297 million by 2032, growing at a CAGR of 8%.
Thermoplastic polymers with improved physical and chemical properties include chlorinated polyethylene (CPE) resins and elastomers. These are employed as thermoplastic elastomer modifiers for several resins, including polyethylene, polyvinyl chloride, and acrylonitrile butadiene styrene (ABS) (PE). Resins made of chlorinated polyethylene are resistant to abrasion, chemicals, heat, fire, and oil.

The report is intended to present an unbiased analysis. It therefore offers incisive coverage on key market dynamics, including drivers, restraints, opportunities, and challenges. It also offers detailed information on Chlorinated Polyethylene Resins and Elastomers (CPE) market structure. FMI’s in-house team for chemicals & materials sector gives valuable insights, validated with latest data. The report also gives access to extensive database that tracks existing and upcoming chemicals & materials trends and innovation in 100+ countries.

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With the development in petroleum & oil and gas companies and R&D activities, the market has witnessed a healthy expansion. FMI’s latest report offers significant details about the latest trend and challenges that the Chlorinated Polyethylene Resins and Elastomers (CPE) market is expected to witness in the upcoming decade.

Impact of COVID-19 on Chlorinated Polyethylene Resins and Elastomers (CPE) Market

The pandemic has placed an enormous strain on the chemicals & materials industry including its workforce, supply-chain, infrastructure, and market players. The first wave of COVID-19 that hit the regions across the globe, compelled the chemicals & materials industry to adapt and develop its infrastructure and innovate in a short period of time. Against this backdrop, FMI tracks the changes, improvement, profits and losses in the industry among the existing players as well as the new entrants within the industry.

The FMI’s recently published report presents detailed insights into the impact of COVID-19 on the Chlorinated Polyethylene Resins and Elastomers (CPE) market and innovative strategies adopted by the market players to tackle the challenges encountered due to the pandemic.

Important Questions Answered in the Chlorinated Polyethylene Resins and Elastomers (CPE) Market Report

1. How will the Chlorinated Polyethylene Resins and Elastomers (CPE) market expand through 2032?
2. Which region is the most lucrative in the Chlorinated Polyethylene Resins and Elastomers (CPE) market?
3. What are the recent technological developments in the Chlorinated Polyethylene Resins and Elastomers (CPE) market?
4. What are key challenges and competition threats faced by Chlorinated Polyethylene Resins and Elastomers (CPE) market players?
5. Who are prominent players leading the Chlorinated Polyethylene Resins and Elastomers (CPE) market?

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Chlorinated Polyethylene Resins and Elastomers (CPE) Market: Key Segmentation

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

Extensive study of the geographical regions offers detailed insights on the market performance across major regions along with descriptive info graphics, datasets, and list of tables.

Type:

• Solution Chlorination
• Water Suspension
• Solid Phase Chlorination Process of Stirring Bed

Application:

• Automotive
• Roofing Membranes
• Molded Straps
• Extruded Profiles
• Cable Jacketing
• Others

Chlorinated Polyethylene Resins and Elastomers (CPE) Market: Competitive Evaluation

The FMI’s Chlorinated Polyethylene Resins and Elastomers (CPE) market report provides a comprehensive analysis on key players operating in the Chlorinated Polyethylene Resins and Elastomers (CPE) market.

Some of the key participants present in the global demand of Chlorinated Polyethylene Resins market include Dow Chemical Company, Sundow Polymers Co. Ltd., Lianda Corporation, Du Pont, Novista – Sanyi Chemical, Weifang Polygrand Chemical Co. Ltd., Shandong SanyiIndustrial Co. Ltd., Cevo Industry Company Ltd. among others., among others.

With a detailed analysis on positioning of top companies across the globe, emerging players, strategic players and innovators, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of key players over the forecast period.

Why Buy FMI’s Report?

• Extensive analysis on high growth niche markets across major regions
• Detailed assessment on key segments and sub-segments
• Recent and upcoming strategies tracked of manufacturers for the Chlorinated Polyethylene Resins and Elastomers (CPE) market
• Reliable information on new product launches, technological advancements, and more
• Valuable insights on the impact of regulatory framework on the global Chlorinated Polyethylene Resins and Elastomers (CPE) market

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During the forecast period ranging from 2022-2032, the medical plastics market is expected to grow at a value of 7.8%. In 2021, this market was predicted to have a global valuation of US$ 46.5 Billion, and is expected to reach a sum of US$ 106.23 Billion by 2032, according to a recent report published by Future Market Insights. The market is going to face increasing demand owing to the increase in growing geriatric population and various advancements in the field of medical science.

From 2017 to 2021, the Medical plastics industry grew at a CAGR of 6.3%. Since medical plastic does not permeate and is shatter-proof, it is an excellent choice for transporting biohazardous materials. Dangerous pathogens can be kept at bay by properly disposing of medical waste. Furthermore, these plastics have higher levels of safety and antimicrobial properties than other raw materials. Because medical plastics aid in decontaminating samples and securely containing them, the medical plastic market is gaining significant traction in the healthcare sector.

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The growing elderly population in the United States, as well as the growing demand for home healthcare services, are driving medical plastics demand in North America. Furthermore, the pharmaceutical sector in Mexico and Canada is expected to expand rapidly, fueling product demand in the pharmaceutical packaging market. At the same time, APAC is estimated to be the leading market for medical plastics during the forecast period, owing to strong investments in R&D and digitization in the healthcare ecosystem.

Key Takeaways from the Market Study

• In 2022, the global medical plastics market is estimated to have a global market size of US$ 50.13 Billion.
• Medical plastics market in North America acquired 34% of the global market share in 2021.
• Asia Pacific is expected to grow with a 5% CAGR during 2022-2032.
• By product, the Polyphenylsulfone segment took over 52% of the global Medical plastics market share in 2021.
• By application, the medical components segment acquired 42% of the global market share in 2021.

“The demand for medical plastics is expected to rise in the future due to the growing geriatric population and the increased need to find better alternatives to steel and glass medical instruments and equipment. Various technological advancements in this field, especially for prosthetics, will create new opportunities during the forecast period. ,” comments a Future Market Insights analyst.

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Competitive Landscape

The global medical plastics market is fragmented due to strong distribution networks and a wide range of products offered by large and small companies in emerging and developing economies. The major growth strategies employed by market players to expand their regional presence and meet the growing demand for medical plastics in emerging economies between 2017 and 2022 were new product launches, agreements & collaborations, expansions & investments, and mergers & acquisitions. Establishment players are creating new medical products through research and development.

• In the first quarter of 2022, Evonik Industries AG introduced VESTAKEEP iC4800 3DF, a PEEK (polyether ether ketone) filament that would improve the fusion between implants and bones.
• In January 2021, PTA Plastics, for example, invested more than $2 million in capital equipment and buildings. These injection moulding and finishing machines and equipment will be used for medical plastics products.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global Medical plastics market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of product type (Polyethylene (PE), Polycarbonate (PC), Polypropylene (PP), Polyphenylsulfone (PPSU), Liquid Crystal Polymer (LCP), Polyethylenimine (PEI), Polyethersulfone (PES), Polymethyl Methacrylate (PMMA) others), by application size (Medical Device Packaging Orthopedic Implant Packaging, Medical Components, Orthopedic Soft Goods, Cleanroom Supplies, Wound Care and Others), and across five major regions (North America, South America, Europe, Asia Pacific and Middle East & Africa).

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About the Chemicals & Materials Division at Future Market Insights

The chemicals & materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the healthcare industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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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According to a recent study by Future Market Insights, the cumene market is anticipated to have a prodigious CAGR of 5.4% during the period of 2022-2032. The market is anticipated to reach US$ 42.7 Billion in 2032, from US$ 25.1 Billion in 2022. The market was valued at US$ 23.5 Billion in 2021, and is expected to grow with a Y-O-Y growth rate of 6.8%. The overall absolute dollar growth of the global market is US$ 17.6 Billion.

Growing utilization of the cumenes for various applications is estimated to boost the market growth over forecast period. Major factors that are expected to boost the growth of the cumene market in the forecast period are the rise in the demand for phenolic resins and bisphenol-A, and the increase in the consumption of acetone and its derivatives. Furthermore, the rise in the usage of cumene in adhesives and sealant chemicals and the upsurge in the preference for the consumers towards high octane production are further propelling the growth of the cumene market.

The product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period. One of the major applications of cumene is in the production of phenol. The liquid-phase oxidation of cumene with molecular oxygen forms cumene hydroperoxide, which is further decomposed into phenol and acetone using a catalyst. The oxidation process requires the use of purified cumene. The catalyst used to decompose cumene hydroperoxide into phenol and acetone is sulphuric acid.

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Key Takeaways from the Market Study

• The US to account for the highest value share of US$ 14.9 Billion of global market demand for cumene in 2032
• From 2015 to 2021, Cumene demand expanded at a CAGR of 3%
• By production, the zeolite segment constitutes the bulk of Cumene Market with a CAGR of 6%.
• By application, the phenol segment dominates the cumene market with a CAGR of 4%.

“Product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period,” remarks an FMI analyst.

Competitive Landscape

Players in the global Cumene Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

• In May 2021, PPG announced the completion of a USD 13 million investment in its paint and coatings plant in Jiading, China, which includes eight new powder coating production lines and an enlarged powder coatings technology centre, which will improve PPG’s research and development capabilities. The extension will almost certainly boost the plant’s capacity by over 8,000 tonnes per year.
• In October 2019, INEOS announced that it had broken ground at its global-scale cumene investment facility at Marl, Germany. With a capacity of 750,000 ton per year of cumene, the plant’s construction was expected to be completed in 2021.

Know More About What the Cumene Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Cumene Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Cumene Market, the market is segmented on the basis of production, and application across five major regions.

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Key Segments Covered In The Cumene Market Report

Cumene Market by Production:

• Zeolite Cumene
• Solid Phosphoric Acid Cumene
• Aluminum Chloride Cumene

Cumene Market by Application:

• Cumene for Phenol
• Cumene for Acetone
• Cumene for Other Applications

Cumene Market by Region:

• North America Cumene Market
• Latin America Cumene Market
• Europe Cumene Market
• Asia Pacific Cumene Market
• Middle East and Africa Cumene Market

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About Chemicals and Materials Division at Future Market Insights

The chemicals and materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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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The electrical steel market value will total US$ 37.5 Bn in 2021, as per Future Market Insights (FMI). Exhibiting a CAGR of 6.5% for 2021-2031, the market is expected to reach US$ 70.5 Bn by the end of 2031. Despite logistical challenges amid restrictions imposed to contain the pandemic in 2020, the market is forecast to register 5.3% year-on-year growth in 2021.

The demand for electrical steel will surge particularly in emerging economies, as they leverage renewable energy sector and invest in infrastructure activities. Consequently, the market will register rising application of electrical steel in transformers. This factor however is not restricted to a particular region, rather it will guarantee global market growth on account of increasing energy consumption around the world.

Among various types, application of grain-oriented steel will continue increasing in transformers and generators, which will stimulate growth of the market. Also, growing demand for automobiles, spurred by the rise in population, lifestyle changes, and emergence of technological innovations has spurred sales of the non-grained electrical steel.

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According to the study, the demand for non-gain oriented electrical steel is anticipated to rise at a CAGR of 5.7% in 2021. On the other hand, grain-oriented electrical steel will account for over 55% of the market share in 2021.

The market for electrical steel in Europe is forecast to grow at a CAGR of 5% over the assessment period. Meanwhile, factors such as presence of key market players, rising research and developmental activities, and expansion of production facilities will aid in electrical steel market growth in the U.S.

“Increasing demand for highly-efficient transformers across the globe will bolster sales of electrical steel. To capitalize on available opportunities, manufacturers are likely to focus on capacity expansion,” said a Future Market Insights analyst.

Key Takeaways from Electrical Steel Market Survey

• Japan is projected to exhibit growth at a CAGR of 6.3% between 2021 and 2031, accounting for over 35.6% of the East Asia market.
• The U.S. is the leading market for electrical steel in North America and is estimated to register a CAGR of 5% over the forecast period.
• The electrical steel market in China is likely to register impressive growth, accounting for over 52% of the East Asia market through 2031.
• Indian market is expected to grow at a steady pace, accounting for over 44% sales in the South Asia and Pacific region in 2021.
• Based on application, transformers will account for 45% of the overall market share in 2021.

Key Drivers

• Growing manufacturing activities in developing regions is boosting sales of electrical steel.
• Rising global automobile production is a key factor diving growth of the market.

Key Restraints

• Volatile prices of raw materials is a key factor impeding growth of the electrical steel market.

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Competitive Landscape

Key manufacturers are focusing on expanding their facilities in order to strengthen their market presence.

For instance, in November 2020, Nippon Steel, a leading steel manufacturing company based in Japan announced plans to invest approximately US $1 billion to broaden its electrical steel sheet facilities at two plants in Japan. This progression will raise its capacity for over 40% by the first half of 2023 to address the growing demand for electric vehicles and transformers across end users.

Other players operating in the market are focusing on new product offerings to enhance their product portfolio.

For instance, in 2020, Voestalpine Group, announced the launch of its two electrical sheet products named, blacklack-V and Sovac. With the launch of these novel products, company will witness an upsurge in revenue from end use segments.

More Valuable Insights on Market

FMI, in its new report, offers an unbiased analysis of the global electrical steel market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in electrical steel market with detailed segmentation:

By Product Type:

• Grain-Oriented Electrical Steel
• Non-Grain Oriented Electrical Steel

By Application:

• Inductors
• Motors
• Transformers

By End Use:

• Automobile
• Manufacturing
• Energy
• Household Appliance
• Others (Construction, Fabrication)

By Region:

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

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Key Questions Covered in the Electrical Steel Market Report 

• The market survey also highlights projected sales growth for electrical steel market between 2021 and 2031
• The report offers insight into electrical steel demand outlook for forecast period 2021-2031
• Electrical steel market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Electrical steel market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com