Payment Bank Solutions Market Projected to Amass a Revenue of US$ 1,47,237.9 Million by 2032

The projected CAGR of 12.3% from 2022 to 2032, the global market for payment bank solutions is expected to reach US$ 1,47,237.9 million in sales, up from US$ 46,297.3 million in 2022.

The concept of payment bank solution is growing at a faster pace due to rising usage of mobile technology to provide financial assistance in remote areas. These payment bank solutions are developed specifically for unbanked segments and locations which do not have banks.

This payment bank concept has been launched by Reserve Bank of India (RBI) in which a payment bank operates at smaller level that as an actual bank. In this payment bank can make payments and do some work of banks but cannot lend money or issue credit card. A payment is allow to accept deposit, enable mobile payments, net banking services, fund transfers, issuance of ATM or debit card and can sell third party financial products.

Payment Bank solutions are precisely tailored for organizations looking for payments banks and small finance banks licenses from the Reserve Bank of India (RBI). With these solutions, licensees can set up the required technology backbone and become operational quickly.

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Payment Bank Solution Market: Drivers and Challenges

The major factor driving the adoption of Payment bank solutions is the rising usage of mobile technology among individuals.

In India, rural and urban both places, individuals have been adopted mobile technology significantly for online shopping, online banking and others.

The concept of Payment bank solution is also getting adopted by individuals due to internet facilities and easy to understand concept.

The key challenge for Payment bank solution is the lack of knowledge payment banking solutions.

RBI has issued license to 11 entities to launch payment banks due to which only these 11 companies are offering solutions to areas where they already exist.

This concept is in introductory stage due to which it will take time for individuals to adopt.

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Key Developments

In February 2017, MasterCard has entered into the partnership with Airtel Payment Bank to provide payment processing solution.

The MasterCard is offering online debit card to Airtel customers to make digital payments up to 1 lakhs. This will help Airtel to offer safer, innovative and faster payments experience to its customers.

In October 2015, Mahindra Comviva has entered in the Payment Bank Solutions market in India to offer technological solutions and infrastructure to payment banks.

Mahindra Comviva’s technological product has been deployed with Idea and is expected to be adopted by Tech Mahindra as well when it rolls out its own payments bank.

In September 2015, Infosys Finacle, a subsidiary of EdgeVerve Systems has launched solution for Payment banks named as Finacle Payments Bank and Finacle Small Finance Bank solutions for the India market. hese solutions are specifically tailored for organizations seeking payments banks and small finance banks licenses from the Reserve Bank of India (RBI).

In Payment Bank Solution market there are vendors are Infosys Finacle, MasterCard, Mahindra Conviva and others.

Regional Overview

Presently, India is holding the largest market share for Payment Bank Solution market due to high adoption of mobile banking and net banking apps among individuals in various industries for improved payment services, to increase real time financial assistance and other.

This Payment Bank Solution market is expected to have the highest growth rate in coming years due to the adoption of cloud based tools and increase in the number of solution providers.

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Payment Bank Solutions Market: Segmentation

Segmentation on the basis of type:

  • Hardware
  • ATM cards
  • Debit cards
  • Forex cards
  • Software
  • Platforms
  • Mobile Apps

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Sodium Lactate Market: In-Depth Analysis, Growth Strategies and Comprehensive Forecast to 2031

Sodium lactate find extensive applications in the food & beverage industry, pharmaceutical and cosmetic and personal care products owing to its superior properties and cost-effective nature. As per a new study by Future Market Insights (FMI), the demand for sodium lactate will increase by 8.8% between 2021 and 2031.

Focus on reducing the cost of production to offset the high feedstock cost and gain competitive edge among leading players will bode well for the market. Moreover, manufacturers are expanding their manufacturing capabilities and increasing their exports to make deeper inroads in markets with unmet needs.

Increasing safety concerns have encouraged governments around the world to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have been created with the intent to keep an eye on chemical additives and contaminants in food supplies. This is expected to create attractive opportunities for growth.

The global sodium lactate market is estimated to be US$ 158.7 Mn in 2021, registering high growth through the forecast period (2021-2031)

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Key Takeaways from Sodium lactate Marker Study

  • Liquid form by form type is expected to contribute more than 54% of revenue share to the market.
  • By application, food & nutritional supplements held the highest market share in 2021 due to diversifying the application of sodium lactate in the food industry.
  • North America holds a t share of over 38% in the global sodium lactate market.
  • Germany is expected to remain the dominant market for sodium lactate in Europe, accounting for over one-fourth of sales through 2031.
  • China will continue leading the East Asia market, exhibiting double-digit growth through the forecast period.

“Diverse applications of sodium lactate across diverse industries, from pharmaceutical to the food sector will drive the sodium lactate market,” says a FMI analyst. 

Fast Expanding End-User Industries and Product Compliance

Food & beverage, cosmetic industry, pharmaceuticals manufacturers are prominent end-user industries gaining momentum. With the prompt expansion of the food & beverage and agricultural industry across the globe, it will fuel the demand for sodium lactate-based products. Manufacturers may want to steadily exit or avoid entering the vulnerable solvents marketplace as the usage of VOC-based products is banned and prohibited in developed countries.

Increasing safety concerns have encouraged several governments to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have created use of chemical additives and contaminants in food supplies on check.

Also, within the pharmaceutical industry, regulations and quality assurance play an important role. These factors will continue creating scope for sodium lactate applications.

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Competitive Landscape

Manufacturers are focusing on the development of intermediates. Moreover, they are focusing on expanding their regional presence through acquisition and expansion.

Some of the leading companies of this market include:

  • Jungbunzlauer Suisse AG
  • Biosynth Carbosynth
  • Corbion N.V.
  • Prathista Industries Limited
  • Dr. Paul Lohmann GmbH KG
  • Merck KGaA
  • Advance Inorganics
  • Hexon Laboratories Private Limited
  • Galactic S.A.
  • abcr GmbH

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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global sodium lactate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The study provides compelling insights on the sodium lactate market on basis of Product Form in detail cover every aspect of the market such as (Powder, Liquid), Application (Beverages, Food & Nutritional Supplements, Clinical Nutrition, Dialyses Solutions, Personal Care & Cosmetics, Cleaners & Detergents), End User (Food & Beverages Industry, Cosmetic Industry, Pharmaceuticals Manufacturers, Medical Devices Manufacturers, Others) across seven major regions.

Sodium lactate Market by Category

Product Form:

  • Powder
  • Liquid

Application:

  • Beverages
  • Food & Nutritional Supplements
  • Clinical Nutrition
  • Dialyses Solutions
  • Personal Care & Cosmetics
  • Cleaners & Detergents

End-User:

  • Food & Beverages Industry
  • Cosmetic Industry
  • Pharmaceuticals Manufacturers
  • Medical Devices Manufacturers

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What Are Key Opportunities For The Market To Growth In Future?

In developed economies, customers are progressively transitioning to products that confirm to stricter requirements for safety. This will create opportunities for research and development activities and product innovation to launch lactates-based products.

Development of custom formulation and products as per end-user requirements is expected to gain impetus across the world. Some of the leading companies are therefore focusing on produyct launches.

A majority of manufacturers in the MEA region are based out of South Africa, Turkey and GCC. They are primarily focusing on manufacturing international quality products to garner significant attention from end-users in the region. Sodium lactate also is used in food products that need to be Kosher & Halal certified.

Expansion in APAC and ban on VOC-based solvent in Europe and North America will create growth opportunities for sodium lactates manufacturers.

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Sodium Hydroxide Market | Size, Application, Revenue, Types, Trends in Future, Scope to 2031

Increasing research and development (R&D) activities aimed at the development of new production technologies are expected to create growth opportunities for sodium hydroxide market, finds by Future Market Insights (FMI) in a recent research study.

According to the report, the sodium hydroxide sales are anticipated to surge at a CAGR of 4.3%, reaching US$ 43.7 Bn by the end of the assessment period in 2031. The growing demand for sodium hydroxide from various end-use sectors is encouraging market players to invest heavily in expanding their production capacities.

East Asia is estimated to remain a key regional market owing to increasing applications, particularly driven by the demand for textile chemicals in textile industry. Furthermore, the outbreak of the COVID-19 virus has resulted in reduced growth of many end-use industries including automotive and construction.

This outbreak also has impacted the chemical industry. The losses arising during the pandemic have resulted in subduing growth for the sodium hydroxide market. However, the increasing demand in the pulp and paper industry is expected to support recovery of the sodium hydroxide market.

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Key Takeaways from Sodium Hydroxide Market Study

  • Caustic lye holds over 63% of the global value share in 2021 owing easier applications particularly in the chemical industry.
  • Textile applications will account for over 19% of the market through the end of 2031, driven by inking and dyeing applications.
  • China is dominant in East Asia with a share of over 63% through the assessment period, supported by the presence of prominent end-use industries in the country.
  • The U.S. is a lucrative market accounting for over 89% of North America, propelled by demand in the automotive and construction sectors.
  • India followed by ASEAN countries account for a cumulative share of over 72% of the South Asia and Pacific market, albeit driven by a fragmented end-use sector.

“Global trade tensions and COVID-19 outbreak have had a considerable negative impact on buyer confidence. This in turn has affected short term sales figures in the sodium hydroxide market. However, demand has been gradually recovering since last quarter of 2020 and is expected to reach pre-pandemic level in the coming years,” said a lead analyst at FMI.

Who is Winning?

Leading players in the sodium hydroxide market are focusing on strategic expansions of production capacity, in addition to collaborations, partnerships, and acquisitions to produce high-quality products. They are also focusing on bolstering their product portfolio and developing stronger distribution partnerships.

Key manufacturers in the sodium hydroxide market, include but are not limited to Olin Corporation, Tosoh Corporation, BASF SE, Formosa Plastics Corporation, Dow Chemical Company, Shin-Etsu Chemical Co Ltd, Westlake Chemical Corporation, Covestro AG, Solvay S.A., Gujarat Alkalies and Chemicals Limited, Occidental Petrochemical Corporation, Tata Chemicals Ltd., Xinjiang Zhongtai Chemical Co. Ltd, Vynova Group, CJ Chemicals, ProChem, Inc., Chemical Store Inc, GFS Chemicals, Inc.

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Valuable Insights into Sodium Hydroxide Market

Future Market Insights has published a market research report on the sodium hydroxide market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Sodium Hydroxide market through two different segments- Product Type, application and Region.

Sodium Hydroxide Market by Category

By Product Type:

  • Flakes
  • Caustic Lye

By Application:

  • Alumina
  • Textile
  • Pulp & Paper
  • Soaps & Detergent
  • Dyes & Inks
  • Pesticides
  • Pharmaceuticals
  • Water Treatment
  • Petrochemicals
  • Power & Steel
  • Food Processing
  • Organics
  • Inorganics
  • Others

How will COVID-19 Crisis Effect Sodium Hydroxide Market?

The COVID-19 outbreak has impacted various industries. In the short term, the world has seen a rise in demand for sodium hydroxide for water treatment applications. The sodium hydroxide market has been moderately impacted by the crisis.

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However, for the long-term growth outlook, the market has displayed gradual recovery in the past few months and is expected to reach its pre-pandemic levels by the end of 2021, supported by the resurgence of the end users.

Sodium hydroxide is used in the chemical industry as a catalyst, reactant, and more. The use of sodium hydroxide has been increased significantly in the last few years and is expected to continue its growth soon. Strong economic activity is supporting sodium hydroxide demand in all segments.

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Loudspeaker Subwoofer Market Anticipated to grow at a Moderate CAGR of around 5.0% During the Forecast Period Between 2022 and 2032

Global sales of loudspeaker subwoofers are projected to increase between 2022 and 2032 at a moderate CAGR of roughly 5.0%. The need for loudspeaker subwoofers is expected to increase due to uses in home audio, sound reinforcement, and automobile audio.

A component of a complete loudspeaker, which is commonly referred to as a woofer or Loudspeaker Subwoofer, reproduces low pitched bass or sub-bass. The typical frequency of a Loudspeaker Subwoofer ranges from 20 Hertz to 200 Hertz for most consumer products. 

The Loudspeaker Subwoofer frequency is below 100 Hertz in the case of professional live sound equipment, and below 80 Hertz in THX Limited approved high fidelity sound systems. A Loudspeaker Subwoofer augments low frequencies of a loudspeaker that is intended to cover higher frequency bands. 

Technically, Loudspeaker Subwoofer is a common loudspeaker driver. However, in regular parlance, Loudspeaker Subwoofer refers to one or multiple sound drivers mounted inside a loudspeaker or Loudspeaker Subwoofer cabinet. 

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These Loudspeaker Subwoofer enclosures are available in varied designs, such as bass reflex design that includes a vent or a port, a Loudspeaker Subwoofer with a variable number of passive radiator speakers in the cabinet, acoustic suspension with a sealed cabinet, horn loaded, infinite baffle, and band-pass designs that represent innovative trade-offs with regards to low frequency ranges, efficiency, Loudspeaker Subwoofer enclosure prices and sizes. 

A passive Loudspeaker Subwoofer is powered by external amplifiers and has an enclosure and a Loudspeaker Subwoofer driver. A built-in amplifier is included in an active Loudspeaker Subwoofer. A Loudspeaker Subwoofer was developed to facilitate a bass response feature in home sound systems. 

With the introduction of Sensurround sound in motion pictures, Loudspeaker Subwoofers gained popularity in the market. A large Loudspeaker Subwoofer produces loud low frequency Sensurround sound. 

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Loudspeaker Subwoofer: Market Drivers and Challenges 

Loudspeaker Subwoofers possess the capability of reproducing a wide range of frequencies that the audio source in a home or professional theatre system transmits. This factor is the primary driver of the global Loudspeaker Subwoofer market. 

The continuous research, development and upgrades in the automotive sector will also propel the global Loudspeaker Subwoofer market to greater heights. Customers have the option to customize the Loudspeaker Subwoofer cabinet material based on their requirements. 

For instance, some applications require wooden Loudspeaker Subwoofer cabinets for technical purposes or to give the loudspeaker an aesthetic look. This service offered by the manufacturers will enable the global Loudspeaker Subwoofer market to grow. 

However, with respect to the acoustics, a Loudspeaker Subwoofer with 15-inch, 18-inch, and 20-inch sound drivers are susceptible to distortion when compared to 10-inch, 12-inch, and 13-inch Loudspeaker Subwoofer sound drivers. Availability of cheap and poorly designed Loudspeaker Subwoofers is expected to challenge the growth of the global Loudspeaker Subwoofer market. 

Also, most Loudspeaker Subwoofers are extremely delicate and a tiny tear could destroy the quality of the sound. This factor restraints the growth of the global Loudspeaker Subwoofer market. 

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Loudspeaker Subwoofer Market: Regional Outlook 

Among all the regions, North America holds the largest market share of the global Loudspeaker Subwoofer market and is anticipated to maintain a steady growth rate over the forecast period. The Loudspeaker Subwoofer market in Southeast Asia and others of Asia Pacific is expected to register the highest growth rate. 

The growth of Loudspeaker Subwoofer market in the SEA and others of APAC region is attributed to the ever-rising trend of research and development in Loudspeaker Subwoofer and loudspeaker related fields. China and Japan are expected to register a significant growth rate in the Loudspeaker Subwoofer market. 

The Loudspeaker Subwoofer market in Western and Eastern European countries is also expected to generate a steady growth rate during the forecast period. The rise in disposable income in the residential sector plays a major role in driving the overall growth of the global Loudspeaker Subwoofer market. Also, the ever-rising growth in the entertainment industry acts as a propellant for the global Loudspeaker Subwoofer market. 

Loudspeaker Subwoofer Market: Key Players 

Some prominent players in the global Loudspeaker Subwoofer market include, Klipsch Group, Inc.; Polk Audio; Yamaha Corporation; SVS Inc.; ELAC Electroacustic GmbH; Sonos, Inc.; Samsung; BIC America; Rockford Corp.; JL Audio; Alpine Electronics, Inc.; Kicker Audio (Stillwater Designs); MTX International; and Pioneer Electronics (USA) Inc., among others. 

The Loudspeaker Subwoofer market report covers exhaustive analysis on 

  • Historical Actual Market Size, 2013 – 2017 
  • Loudspeaker Subwoofer Market Size & Forecast, 2018 to 2028 
  • Supply & Demand Value Chain 
  • Loudspeaker Subwoofer Market Current Trends/Issues/Challenges 
  • Competition & Companies involved 
  • Technology 
  • Value Chain 
  • Loudspeaker Subwoofer Market Drivers and Restraints 

Regional analysis for the DNA Sequencing Electrophoresis Systems market includes development of these systems in the following regions 

  • North America 
  • US 
  • Canada 
  • Latin America 
  • Brazil 
  • Mexico 
  • Argentina 
  • Chile 
  • Peru 
  • Rest of Latin America 
  • Europe 
  • EU – 4 (Germany, France, Italy, Spain) 
  • UK 
  • BENELUX (Belgium, Netherlands, Luxemburg) 
  • NORDIC (Norway, Denmark, Iceland, Sweden) 
  • Eastern Europe (Poland, Ukraine, Czech Republic, etc.) 
  • Rest of Europe 
  • CIS & Russia 
  • Japan 
  • APEJ 
  • Greater China 
  • India 
  • Korea 
  • ASEAN Countries 
  • Rest of APEJ 
  • Middle East & Africa 
  • GCC Countries 
  • Turkey 
  • Iran 
  • Israel 
  • South Africa 
  • Rest of MEA 

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.

Loudspeaker Subwoofer: Market Segmentation 

On the basis of end user, the global Loudspeaker Subwoofer market can be segmented into the following: 

  • Residential 
  • Commercial 

On the basis of application, the global Loudspeaker Subwoofer market can be segmented into the following: 

  • Car Audio 
  • Home Audio 
  • Cinema Sound 
  • Sound Reinforcement
  • Other Applications 

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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Stainless Steel Market is Anticipated to Reach a High Value of US$ 183.86 Million by the end of Year 2032

As per the report published by FMI, the global stainless steel market is projected to have a moderate-paced CAGR of 5.5% during the forecast period. The current valuation of the market is US$ 119.80 billion in 2022. The market value of stainless steel is anticipated to reach a high of US$ 183.86 billion by the year 2032.

The stainless steel market is gaining rapid traction due to the flourishing demand for stainless steel in the manufacturing of kitchen products such as showpieces, cookware, and stoves owing to its benefits that include high ductility & toughness, resistance to corrosion, and low maintenance required that in turn fuel the market growth in the different industries.

According to the findings of Future Market Insights stainless steel seeks significant demand from the automotive industry again influences the market growth positively. Increasing automobile production in the regions such as the Middle East, the Asia Pacific, and Latin America has prominently escalated the demand for stainless steel in these regions.

FMI has analyzed that the main factors contributing to the increased automobile production are the rise in easy access to credit facilities, disposable income, and the increasing necessity of people for personal transportation. The aforementioned factors are likely to boost the demand for stainless steel across the globe.

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Key Takeaways from the Stainless Steel Market

  • The automotive and transportation segment accounts for 12% market share of the global steel consumption.
  • On the basis of the product type, the flat product segment is going to dominate at a significant CAGR during the period 2022-2032. This segment accounted for 73% of revenue share in 2021.
  • Europe is projected to advance at a CAGR of 5.6% during the estimated period.
  • Asia Pacific is projected to dominate the stainless steel market with a market share of 74% during the forecast period.

“Socio-economic factors and drastic development of the construction & building and automotive industry is likely to curate lucrative growth opportunities for the stainless steel manufacturers and leverage the market growth during the forecast period”– Says an FMI Analyst

Competition Landscape in the Stainless Steel Market 

The market players in the stainless steel industry focus primarily on their capacity expansion across various regions. the manufacturer has helped in the development of advanced techniques to enhance the properties of stainless steel which further extends profitable opportunities to the market players in the forecast period of 2022 to 2032.

The global stainless steel market can be considered oligopolistic due to the presence of a considerable number of players across the globe. The intensity of participation in the market is high owing to the excellent scope of demand. Tier-I companies are planning to venture into collaboration and acquisitions of accompanying businesses to further increase their market presence.

Acerinox S.A., Aperam Stainless, ArcelorMittal, Baosteel Group, Jindal Stainless, Nippon Steel Corporation, and Outokumpu are some key players in the stainless steel market.

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Key Segments In The Stainless Steel Market

By Type:

  • Austenitic Stainless Steel
  • Ferritic Stainless Steel
  • Duplex Stainless Steel
  • Martensitic Stainless Steel
  • Precipitation Hardening Stainless Steel

By Form:

  • Flat Products
  • Long Products
  • Tubular Products

By End-Use:

  • Building & Construction
  • Industrial Machinery & Components
  • Automotive & Transportation
  • Home Appliances
  • Cookware & Cutlery
  • Medical & Surgical Tools
  • Others

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Recent Developments in the Stainless Steel Market:

  • In November 2021, the U.S. government introduced USD 2 trillion plan for infrastructure. It includes heavy fund allocation for repair and renovation of bridges, highways, EV charging facilities, airports, water infrastructure, communication networks, high-speed Internet, clean energy & environment, and carbon reduction. This plan is likely to assist the SS demand for structural applications in infrastructure and construction.
  • In February 2021, Jindal Stainless announced a CAPEX plan for its Odisha stainless steel plant worth Rs. 2000-3000 crore (USD 261.8-392.7 million) over the next few years

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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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Expanded Polypropylene (EPP) Foam Market: Overview With Geographical Segmentation By Revenue With Forecast to 2030

Rising demand for lightweight vehicles is expected to drive sales in the expanded polypropylene (EPP) foam market. According to a study by Future Market Insights (FMI), the market is expected to exhibit 6.0% CAGR between 2021 and 2031

Globally, the growth of global expanded polypropylene (EPP) foam market is driven by the increasing demand from automotive and industrial packaging industries. EPP foam is a special kind of foam, which is light weight, highly durable, offers energy or shock absorption, and wear, tear, impact and chemical resistance.

Application of EPP foam is expected to increase across diverse industries as they look for advanced industrial packaging solutions. Of these, the automotive sector is expected to account for nearly half of EPP foam sales over the forecast period.

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Key Takeaways from EPP Foam Market Study

  • The global EPP foam market is estimated to reach a market value of US$ 2.24 Bn by 2031
  • Rising automotive production will enable the U.S. account for nearly 80% of sales in North America
  • Increasing construction spending will enable the U.K. market exhibit a solid 5.1% y-o-y growth in 2021
  • Construction and industrial recovery will boost sales in Germany and France
  • Besides China, Japan and South Korea will emerge as key markets backed by rising industrial application in East Asia

 “Despite sluggish growth registered amid pandemic, EPP foam sales are expected to pick up in response to economic recovery across the world. Manufacturers are likely to capitalize on the opportunity by offering quality products and competitive pricing,” said a lead analyst at FMI.

Who is winning?                                                                           

Key manufacturers in the EPP Foam market such asBASF SE, Schaumaplast GmbH & Co. KG, Hanwha Corporation, Recticel, Furukawa Electric Co., Ltd, Knauf Industries, Paracoat Products Limited, Kaneka Corporation, JSP Corporation, ACH foam Technologies,  The Woodbridge Group, SSW Pearl Foam GmbH, Sonoco Products Company, Clark Foam, Bradford Company, Dongshin Industry Inc.,  DS Smith Plastics, Marko Foam Products, Inc., Eurofoam Group, Dongguan City Prosperous Mass Poly Foam Co.Ltd are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.

To Know More about EPP Foam Market:

A new market research report published by Future Market Insights (FMI) on the global EPP Foam market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period.

The report analyses the EPP Foam market through three different segments- grade type, by manufacturing process, by application and region. The EPP Foam report also offers detailed analysis of pricing analysis by different grade type’s demand across various application and patent analysis in the market.

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Want to Know More?

Future Market Insights has published a market research report on the EPP Foam market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the EPP Foam market through three different segments- grade type, by manufacturing process, by application and region.

Expanded Polypropylene (EPP) Foam Market by Category

Grade Type

  • Low Density
  • High Density
  • Porous PP

Application

  • Automotive
  • Industrial Packaging
  • Consumer Products
  • Building & constructions
  • Others

Region

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

Competitive Landscape

The key players in the EPP foam market are seeking ways to provide higher quality products at lower costs and stable supply for long durations to help industries operate smoothly. Most of the small players go into long-term contracts with contract manufacturers to supply customized products at cost-competitive prices for the end use applications. The EPP Foam market is a fragmented market in which more than half of the market value share is owned by the main players.

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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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Veneer Sheets Market | Industry Analysis, Size, Share, Growth, Trends and Forecast by 2031

As per FMI analysis, the global veneer sheets market is projected to reach a market value of US$ 41,163 Mn by 2031, growing at a CAGR of 2.3% during the forecast period of 2021-2031.

Steady growth registered by the veneer sheets market is attributable to consistently rising demand from commercial and residential construction. In a new study, FMI has forecast the market to reach US$ 33.37 Bn by 2021.

Growth forecasts continue to stay positive, albeit moderate because some of the established markets have been reaching maturity. For instance, despite recovery post COVID-19 in 2020, Europe will continue exhibiting moderate growth through the forecast period.

Veneer is a very thin coating used on the surface of the solid material. Veneer sheets are often glued to a solid material so that an otherwise dull piece of furniture can be made to appear elegant in a cost-effective manner. Moreover, applying a layer of veneer increases the durability of furniture, which makes veneer sheets highly sought-after in the construction sector.

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Although the market for veneer sheets is projected to rise consistently, the COVID-19 pandemic is expected to have a major impact on short-term demand pattern. COVID-19 pandemic also has compelled manufacturers to revisit strategies adopted for expansion to ensure steady growth in the near future.

Also, delays caused in building projects and manufacturing process have contributed to a decline in demand for sheets of veneer. Nonetheless, with economies returning to normalcy post extended lockdown period, sales of veneer sheets are expected to pick up, especially in the residential sector, which has also been identified as leading end-use in the report. FMI has predicted it to account for nearly 65.5% of the market in 2021.

Key Takeaways from Veneer Sheets Market Study

  • Veneer sheet market will pick up pace post decline registered in 2020. FMI has projected the market to record 1.5% Y-o-Y growth in 2021
  • The U.S. will continue leading the market in North America, accounting for 80.9% share in 2021
  • The U.K. is projected to record growth at 1.0% in 2021
  • Germany and France will remain key markets for veneer sheets in Europe
  • Germany and France will continue exhibiting high demand, with Germany forecast to remain dominant in Europe through 2031
  • Japan and South Korea to remain lucrative markets in East Asia. Among these countries, South Korea will exhibit high growth over the forecast period

“Product differentiation is one of the key strategies adopted by the market players. They are focusing on introducing a wide range of veneer sheets, designed keeping in mind specific applications as per consumer requirement,” said a lead FMI analyst.

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Veneer Sheets Market: Participant Insights                                                    

Some of the leading companies operating in veneer sheets market are GREENLAM INDUSTRIES LTD., Sauers & Company Veneers, Oakwood Veneer Company, Veneer Technologies, Inc, FormWood Industries, Inc., Turakhia Overseas Pvt. Ltd., CEDAN INDUSTRIES, CENTURYPLY, Ltd,   Herzog Veneers, Inc., Ltd, SR Wood, Ltd, Pearlman Veneers and Flexible Materials Incorporated. These companies are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.

Key Segments

Product Type

  • Paper-Backed
  • Wood-Backed
  • Phenolic-Backed
  • Laid-Up
  • Others

End Use

  • Commercial
  • Residential

To Know More about Veneer Sheets Market

A new market research report published by Future Market Insights (FMI) on the global Veneer Sheets market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period.

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The report analyses the Veneer Sheets market through three different segments- product type, end-use, and region. The Veneer Sheets report also offers detailed analysis of pricing analysis by different product types demand across various end-use industries, and patent analysis in the market.

About FMI

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

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Chip-on-Flex Market Forecast to grow at a CAGR of 3.9%, Valued at US$2631.5 Million from 2022 to 2032

The demand for chip-on-flex is expected to reach US$1800.6 million in 2022 and is projected to increase at a CAGR of 3.9% to reach US$2631.5 million from 2022 to 2032. Flex circuits are used in a rising number of applications, which is what is driving growth. A CAGR of 2.6% was recorded for the market for biscuit mixtures from 2016 and 2021.

Chip on flex basically refers to a semiconductor assembly where the microchip is mounted on and electrically connected to a flexible circuit which is a circuit built on a flexible substrate. The structure of chip on flex is such that it allows flexible connections to various circuits giving rise to a wide gamut of applications.

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Global Chip-on-flex Market: Market Dynamics

The rising investment in R&D to produce advanced flexible displays in the market is the major factor driving the growth of the market. Also, the advantages produce by chip-on-flex such as heat sinks, component assembly, penalization, shielding, over molding and graphics overlay among others which makes them as a critical component in various industries such as electronic industry, aerospace, defense and many others.

Also, the rising demand for small and flexible electronics critical to various devices such as displays, sensors, lighting, biomedical implants, and radio frequency identification which require automated manufacture with highly accurate performance is anticipated to result in an exponential growth of the market. With the use of these chips, industries ensure increased accuracy with reduced cost and amplified product quality with testing repeatability.

However, increased cost of raw materials and changing consumer needs are some of the factors that can restrain the growth of global Chip-on-flex market.

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Single sided chip on flex accounted for higher market share in 2016 owing to various advantages like reduced wiring errors, higher circuit density, stronger signal quality, and design flexibility. The others segment can also be expected to witness significant CAGR during the forecast period.

Owing to the presence of a large number of chip manufactures in the region like Danbond Technology, AKM Industrial and Compass Technology Company, Asia Pacific can be expected to register highest growth rates in the forecast period followed by North America. The high growth rates in North America can be attributed to the increased adoption of new technologies, especially in the automobile sector. Also, Europe is expected to witness significant CAGR as many firms are increasing their sales in this region.

Global Chip-on-flex Market: Competition Landscape

The key vendors in the global Chip-on-flex market are LGIT corporation, Stemko group, Flexceed, Chipbond technology corporation, CWE, Danbond technology co. ltd., AKM industrial company ltd., compass technology company limited, Compunetics and Stars microelectronics public company ltd. Collaborating with other players and service providers in the building energy management market is the key strategy followed by major market vendors to gain competitive edge.

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Regional analysis for Global Chip-on-flex Market includes

  • North America Market
    • US
    • Canada
  • Latin America Market
    • Argentina
    • Mexico
    • Brazil
    • Rest of Latin America
  • Western Europe Market
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Nordic
    • Benelux
    • Rest of Western Europe
  • Eastern Europe Market
    • Poland
    • Russia
    • Rest of Eastern Europe
  • Asia Pacific Market
    • Australia and New Zealand (A&NZ)
    • China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan Market
  • Middle East and Africa Market
    • GCC Countries
    • North Africa
    • South Africa
    • Rest of MEA

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.

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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Sulfone Polymers Market | Development Trends, Competitive Analysis and Key Manufacturers Report by 2030

The sulfone polymer market is expanding due to the increase in demand for amorphous thermoplastics with higher strength and hydrolytic stability. A recent study by Future Market Insights (FMI) states that the global sulfone polymer market is expected to grow at 5.0% CAGR through 2030.

According to the report, the surge in demand from the healthcare and consumer products segments will propel the growth of the sulfone polymer market throughout the forecast period between 2022 and 2030. Sulfone polymer is increasingly used in electrical and electronics industry for miniaturization of electronics.

Demand for sulfone polymer from the electrical and electronics industry is anticipated to be worth US$ 354 Mn by 2030. This in turn is expected to bolster the growth of sulfone polymer market. FMI offers a holistic overview of the sulfone polymer market along with the detailed insights into growth drivers, restraints, and potential.

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Some of the key takeaways from the report are highlighted below

  • The surge in demand for polyphenylsulfone polymer is anticipated to boost the market during the forecast period
  • The rise in requirement from healthcare end user is projected to fuel the sales of sulfone polymer
  • North America will lead the global sulfone polymer market owing to the high demand in the countries such as the U.S., Canada, and others
  • East Asia will emerge lucrative in the global sulfone polymer market in the coming years

“Sulfone polymers have unique properties and can remain transparent even when exposed to high temperature. This attribute makes it highly sought-after for use in connector’s blocks and circuit boards. There is immense scope for application across various industries, which is why leading players are focusing on expansion of their capacities. This trend will continue creating growth opportunities for the market,” says an FMI analyst.

COVID-19 Impact Analysis

Key end users of sulfone polymer market such as automotive & transportation, electrical & electronics, and others have been left battered due to the deadly COVID-19 pandemic. This has hampered the demand for sulfone polymer substantially.

Furthermore, the economic impact of the virus-outbreak has taken a toll on the manufacturing process due to the financial crisis worldwide. For instance, according to the Ministry of Statistics of India, India’s growth in the fourth quarter of the fiscal year 2022 went down to 3.1%. This declining growth is a result of decelerated production across industries, which is expected to hamper growth prospects for the market as well.

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Who is Winning?

The global sulfone polymer market is highly competitive. In order to sustain in the positions, the key players in the market are started with launching of better quality products which target diverse end users.

For instance, SABIC has launched their new extensive range of sulfone polymers such as SUPER™ Metallocene Linear Low Density Polyethylene (mLLDPE), COHERE™ Metallocene Polyolefin Plastomer (POP), and others in the current year.

Sino Polymer has launched their new range of eco-friendly sulfone polymer such as BISPHENOL-A EPOXY VE, BROMINATED FR VE, NOVOLAC VE, and others in the recent year.

Sulfone Polymers Markey by Category

By Product Type :

  • Polysulfone
  • Polyethersulfone
  • Polyphenylsulfone

By End Use :

  • Automotive & Transportation
  • Healthcare
  • Electrical & Electronics
  • Consumer Products
  • Industrial Processing
  • Others

More Valuable Insights on Sulfone Polymer Market

In the latest report by Future Market Insights, we offer an unbiased analysis of the global sulfone polymer market, providing historical data for the period of 2015-2021 and forecast statistics for the period of 2022-2030.

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In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of end use (automotive & transportation, consumer products, electrical & electronics, healthcare, industrial processing, others), product type (polyethersulfone, polyphenylsulfone, polysulfone), across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).

About FMI

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

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Carbon Steel Market | One the Most Booming Industry in Upcoming Years Due to Global Demand by 2030

The carbon steel market size in 2022 has reached close to US$ 833 Bn. According to a recent study by Future Market Insights (FMI), the carbon steel market is forecast to rise at a CAGR of 5.1% between 2022 and 2030. The report is intended to offer an executive-level blueprint of the market to its stakeholders.

It studies the growth trajectory and gauges investment feasibility across key segments. According to the report, the carbon steel market is operating in an environment where lot of waste is generated and a huge amount of energy is consumed.

The steel industry is efficiently reducing the waste through waste recovery technologies and through recycling, which has been aiding environmental causes. The industry has adopted efficient fabrication and manufacturing process, which is reducing the energy consumption.

Carbon Steel manufacturers are no longer overheating or overcooling the rolling mills allowing them to manufacture products more efficiently by consuming less energy. Steps taken towards cautious manufacturing had bode well for the market.

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However, despite their efforts, the ongoing COVID-19 crisis has caused deceleration in the industrial production and disruptions in supply chain for 3 quarters of 2022.  Growth recovery in the upcoming years will be backed by the increasing demand from downstream industries such as automotive, construction, and heavy engineering & equipment will drive the carbon steel market.

Key Takeaways of Global Carbon Steel Market Study

  • Globally, the demand for energy efficient and low carbon neutral buildings is increasing. Carbon steel is an affordable and safer solution, which provides high strength, versatility, durability and full recyclability throughout the entire life cycle of buildings
  • Carbon Steel manufacturers are improving its blast furnace technologies by taking full advantage of the converter slag of steelmaking by-products and improving the permeability of the blast furnace. All these factors have led to decrease in the steel manufacturing cost
  • Construction industry is forecast to remain dominant end user through the forecast period. The global construction growth is expected to be 3.9% pa by 2030, as per a study by Oxford Economics, which will aid the overall expansion of the market
  • 25% increase on steel tariffs derivative steel has increased the USA’s domestic steel production. Manufacturers are therefore on the process of implementing and enhancing production capability so as to meet the end-user’s increasing demand
  • The global carbon steel market is expected to witness a plunge in FY2022, and is expected to recover sharply in the subsequent year as the industries across regional hubs have started resumption and augmentation of production and supply operations

 “Carbon steel is used by a wide gamut of industries, which has been aiding expansion of the market despite oversupply recorded in the steel industry. Despite nose-dive growth during ongoing pandemic, the market is forecast to recover especially as leading companies move towards consolidation keeping expansion in their mind,” says FMI analyst.

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Carbon Steel Market By Category

By Grade :

  • Low-Carbon steel
  • Medium-Carbon Steel
  • High-Carbon Steel
  • Ultra High-Carbon Steel

By Form :

  • Hot Rolled Steel
  • Cold Rolled Steel

By Application :

  • Basic and Perforated Sheets
  • Angle
  • Channels
  • Beams
  • Normal Plates and Floor Plate
  • Pipes
  • Tubes
  • Bars
  • Struts
  • Grating

By End Use :

  • Automotive
  • Construction
  • Railways
  • Shipbuilding & Marine
  • Aerospace
  • Energy
  • Heavy Engineering and Equipment
  • Consumer Appliances
  • Cutting Tools

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Who is Winning?

The carbon steel market is fairly consolidated, with manufacturing capacities majorly concentrated among tier-I manufacturers. While local tier-2 and tier-3 manufacturers present a stiff competition, tier-1 players leverage their distribution network and brand image in dominating the market space.

Some of the key players in the market are Nucor Corporation, ArcelorMittal, United States Steel Corporation, Baosteel Group, AK Steel Holding Corporation, EVRAZ, Hesteel Group, POSCO, Thyssenkrupp AG, JFE Holdings Corporation, etc amongst many others amongst many others.

Market players have been focusing on strategic expansion and acquisition of manufacturing facilities. This strategy would help companies to expand into new markets to withstand in competitive environment.

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.

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