Synthetic Polyisoprene Rubber Market Share to Reach USD 4.6 Billion by 2032, Driven by Strong Demand in Automotive and Medical Sectors

The demand for synthetic polyisoprene rubber industry is likely to be driven by its widespread application in the manufacturing of tires, belts, footwear, and medical accessories such as medical gloves and medical balloons. The global market is anticipated to expand at a robust 6.2% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent market analysis.

As per FMI, the market is predicted to be dominated by East Asia, which is expected to continue over the forecast period. Backed by the aforementioned factors, the global synthetic polyisoprene rubber market is projected to top USD 4.6 Billion by 2032.

Synthetic polyisoprene rubber is widely utilized as a basic material in tire manufacturing. The demand for synthetic polyisoprene rubber has grown due to greater awareness among employers about the use of industrial gloves and increasing demand for medical gloves. In addition to footwear, synthetic polyisoprene rubber is used in the manufacturing of adhesives & sealants, belts, and other products in the industrial and construction sectors, which is driving the synthetic polyisoprene rubber market.

The demand for synthetic polyisoprene rubber is expected to rise due to expansion in the medical sector, improvements in healthcare infrastructure, and rising establishment of hospitals and clinics.

“Over the forecast period, sales of synthetic polyisoprene rubbers are expected to be driven by the significant growth in the medical sector, along with rising production automotives across the globe,” says and FMI analyst.

Key Takeaways:

  • By application, demand for synthetic polyisoprene rubber for medical accessories is expected to surge at a 6.6% CAGR over the forecast period.
  • The contact segment of the synthetic polyisoprene rubber market is anticipated to grow at 5.8% CAGR through 2032.
  • The synthetic polyisoprene rubber market in the US is anticipated to expand at a 5.9% CAGR by 2032.
  • China will emerge as an attractive synthetic polyisoprene rubber market, with sales growing at a 7.3% CAGR.
  • A significant rise in the demand for tire production is propelling sales of synthetic polyisoprene rubber.

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Competitive Landscape 

Key players in the global synthetic polyisoprene rubber market include

  • Hebei Meishen Technology Co., Ltd,
  • Konoshima Chemical Co., Ltd.,
  • Kyowa Chemical Industry Co., Ltd.,
  • Lehmann & Voss & Co. KG,
  • Naikai Salt Industries Co., Ltd.,
  • Dr. Paul Lohmann GmbH KG,
  • NUOVA SIMA Srl.

Leading players are acquiring small and medium-sized players and are investing in increasing their production capacity. Along with this, they are investing in process development, and product innovations and are also focusing on green technology to reduce carbon emissions.

For instance:

  • In April 2022, SEMPERIT AG HOLDING announced its plans to expand its production lines by investing in the construction of six additional dipping lines for glove production. The company is planning to invest EUR 21 million for this construction.
  • In March 2022, Supermax Corp. Bhd announced to start manufacturing facility for gloves in the USA

More Insights into the Synthetic Polyisoprene Rubber Market Report

In its latest report, FMI offers an unbiased analysis of the global Synthetic Polyisoprene Rubber market, providing historical data from 2017 to 2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on application (Medical, Tires, Belts, Adhesives & Sealants, Condoms, Footwear, and Others), by Contact (Contact & Contactless), and end use (Hospitals, Clinics, Blood and Organ Banks, Teaching Hospitals, Consumer Goods, Industrial, and Automotive & Transportation) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and the Middle East & Africa).

Synthetic Polyisoprene Rubber Market by Category  

By Application:

  • Medical
    • Medical Gloves
    • Medical Balloons
    • Catheters
    • Fluid Transport Tubing
    • Surgical Tubing
    • Laporoscopic Introducer Valves
    • Diagnostic Slit Septum Valves
    • Ventilator Flapper Disc Valves
    • Guidewire Seals
    • Needless Injection
  • Tires
  • Belts
  • Adhesives & Sealants
  • Condoms
  • Footwear
  • Others

By Contact:

  • Contact
  • Contactless

By End Use:

  • Hospitals
    • Private
    • Public
  • Clinics
  • Blood & Organ Banks
  • Teaching Hospitals
  • Consumer Goods
  • Industrial
  • Automotive & Transportation

By Region:

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

Old Source: https://www.prnewswire.com/news-releases/synthetic-polyisoprene-rubber-market-to-reach-us-1-3-bn-by-2032–future-market-insights-inc-301577790.html

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

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Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Two-Wheeler Lubricants Sales Surge as Engine Oil Demand Increases: Market Valued at USD 24,723.7 million in 2033

The two-wheeler lubricants industry share is expected to increase from USD 17,697.3 million in 2023 to USD 24,723.7 million in 2033.

Synthetic oil is the Favored Choice

To manufacture all types of lubricants, crude oil, tight oil, and other additives are required. Lubricants contain a variety of additives that improve their functionality and characteristics. Among these additives are antioxidants, extreme pressure additives, rust and corrosion inhibitors, detergents, viscosity index improvers, anti-wear agents, and dispersants.

Lubricants are made up of 90% base oil and 10% additives, with base oils containing petrochemical fractions such as fluorocarbons, esters, polyolefins, and silicones. Base oils enhance lubricant viscosity and prevent wear and tear. The two most common base oils used in lubricant formulations are paraffinic and naphthenic.

Lubricants are an important component of constantly expanding industries. They are used to reduce friction and wear and tear between two relatively moving elements of machinery. They might be petroleum-based or water-based and are required for proper machinery operation. Lubricants also reduce operational downtime, thereby increasing overall productivity.

While mineral oils remain popular, producers are focusing on boosting the production of synthetic and semi-synthetic oils. It is to meet the rising demand for premium synthetic two-wheeler lubricant products. Manufacturers are focusing on non-mineral oils considering the adoption of new engine technologies in current automobiles, as well as increased public knowledge of the performance benefits of synthetic lubricants.

The shift toward premiumization of products for improved warranty and long oil drain intervals is projected to need a great use of synthetic components in two-wheeler lubricant engines. Furthermore, in order to meet the growing demand for green fuels and sustainable solutions, several market participants are focusing on the development of effective bio-based lubricants.

The use of two-wheeler lubricants in motorcycles, particularly mopeds and standard models, has been higher than in scooters. Manufacturers are focused on product advancements and new advances. It is to give an optimal ride experience with the rise of next-generation motorcycles that permit efficient clutch operation and require multi-functional lubricants.

Key Points from the Two-Wheeler Lubricants Market

  • The market is predicted to expand at a 3.4% CAGR through 2033.
  • Rising pollution and traffic congestion are boosting the market.
  • The market is expected to surpass USD 24,723.7 billion by 2033.
  • Asia Pacific will dominate the global two-wheeler lubricants market by 2033.

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Key Development in the Two-Wheeler Lubricants Market

  • In January 2018, Castrol announced New Castrol Active, a two-wheeler engine oil type. The new product assists the corporation in expanding its product offering.
  • Cummins Inc. and Valvoline Inc. renewed their long-term technology and marketing partnership for the next five years in October 2021. Cummins sells and endorses Valvoline goods through its global distribution channels under this agreement.
  • July 2021 – Valvoline All-Terrain is a new engine oil specifically intended for off-highway, heavy-duty diesel engines operating in harsh situations. According to Valvoline, All-Terrain was developed with a concentration on wear protection in equipment operating in harsh environments such as mining, construction, and agriculture.
  • Total Energies and Stellantis renewed their collaboration for Peugeot, Citroen, and DS Automobiles for another five years in June 2021. This collaboration also prioritizes research and development efforts toward long-term growth and innovation.
  • March 2021 – Nissan Motor India announced an arrangement with ExxonMobil to supply passenger vehicle aftermarket lubricants. The company provides a diverse range of engine oils suited not just for BS6-compliant vehicles but also for BS3 and BS4 models.
  • In February 2021, Shell announced carbon-neutral lubricants for passenger cars, heavy-duty diesel engines, and industrial applications. Shell has a multi-year strategy to help clients manage their sustainability needs. By preventing, decreasing, and offsetting emissions, the corporation hopes to reduce the carbon intensity of its products.

Some of the Key Companies Operating in the Market

  • BP PLC
  • Pertamina
  • Petronas
  • PTT Lubricants
  • Royal Dutch Shell PLC
  • ExxonMobil Corporation
  • Total S.A.
  • Chevron Corporation
  • Petron Corporation
  • Motul
  • Morris Lubricants
  • Hindustan Petroleum Corporation Limited
  • China National Petroleum Corporation
  • FUCHS

Two-Wheeler Lubricants Market Key Segmentation

By Product:

  • Synthetic Oils
  • Semi-Synthetic Oils
  • Mineral Oils
  • Bio-Based Lubricants
  • Greases

By Application:

  • Engine Oil
  • Suspension Oil
  • Break Oil
  • Chain Oil

By Two-Wheeler Type:

  • Motorcycle
    • Standard
    • Cruiser
    • Sports
    • Mopeds
  • Scooter
    • Standard
    • Maxi
    • Enclosed
    • Three-Wheeled

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

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

Old Source: Two-wheeler Lubricants Market to Grow at a CAGR of ~4% by 2029- Future Market Insights

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Conductive Fiber Market Size to Reach USD 6767.3 million by 2034 Driven by Demand for Flexible Electronics

The conductive fiber market size is on an impressive growth trajectory, reflecting the increasing importance of technology-integrated textiles and smart materials. In 2024, the market size is projected to be USD 2,259.6 million, and by 2034, it is expected to reach USD 6,767.3 million, marking a significant rise in demand across various applications. This surge represents a CAGR of 11.6% from 2024 to 2034.

Conductive fibers are specialized materials engineered to conduct electricity. These fibers are designed by incorporating conductive elements such as metals (silver, copper, or aluminum), carbon, or conductive polymers into conventional fiber materials like cotton, polyester, or nylon. By blending electrical conductivity with the flexibility and durability of traditional fibers, conductive fibers have found applications across various industries, including electronics, healthcare, automotive, and textiles.

The most common use cases for conductive fibers include smart textiles (e-textiles), wearable devices, sensors, and EMI (electromagnetic interference) shielding in electronic devices. As the demand for high-performance, multifunctional materials grows, conductive fibers are gaining prominence for their ability to combine the advantages of both traditional and electronic materials.

Conductive Fiber Growth Projections

This growth is primarily driven by the proliferation of wearable technology and the integration of smart fabrics in everyday life. The rising adoption of conductive fibers in sectors like healthcare, sports, automotive, and consumer electronics is contributing to the rapid expansion of the market.

Prominent Drivers of the Conductive Fiber Market

Several key factors are fueling the growth of the conductive fiber market:

  1. Rising Demand for Wearable Technology: Wearable devices, such as fitness trackers, smartwatches, and health monitoring systems, are among the primary growth drivers for conductive fibers. These devices rely on conductive fibers for seamless integration of electronics into flexible, wearable fabrics, enabling real-time data collection and analysis.
  2. Growth in Smart Textiles and E-Textiles: Smart textiles, which incorporate electronics into fabrics, are becoming more popular in both consumer and industrial markets. Conductive fibers are essential for producing e-textiles used in clothing that can monitor vital signs, adjust temperature, or charge devices, creating a growing demand in industries ranging from healthcare to fashion.
  3. Expansion of the Automotive and Aerospace Sectors: Conductive fibers play a crucial role in the automotive and aerospace industries, particularly in EMI shielding and static dissipation applications. As electric vehicles (EVs) and advanced electronics in automobiles and aircraft continue to grow, the demand for conductive fibers in these sectors is expected to rise significantly.
  4. Advancements in Medical and Healthcare Applications: Conductive fibers are being increasingly adopted in the medical sector for smart garments that monitor patients’ health parameters, such as heart rate, temperature, and muscle activity. These innovations have led to a surge in the use of conductive fibers in healthcare technologies.
  5. Increased Demand for EMI Shielding: The rise of electronic devices across industries has increased the need for electromagnetic interference (EMI) shielding to protect sensitive electronics from interference. Conductive fibers are a key material in the production of EMI shielding fabrics, which are in high demand across sectors like defense, telecommunications, and consumer electronics.

Leading Conductive Fiber Brands

  • NV Bekaert SA
  • Seiren Co. Ltd.
  • Toray Industries
  • Kuraray Co Ltd.
  • Eeonyx Corporation
  • KGS Diamond
  • Syscom Advanced Materials, Inc.
  • Ascend Performance Materials LLC
  • Ronda Industrial Belts Technology Limited
  • PERLON Group

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Challenges Faced by the Conductive Fiber Market

Despite the promising outlook, the conductive fiber market faces several challenges:

  1. High Production Costs: The production of conductive fibers, especially those incorporating precious metals such as silver or advanced conductive polymers, can be costly. This can limit the adoption of these materials in cost-sensitive applications, particularly in emerging markets.
  2. Technical Limitations: While conductive fibers offer numerous benefits, they also come with certain limitations, such as lower durability when exposed to harsh environmental conditions (e.g., extreme heat, moisture, or abrasion). Ensuring that these fibers maintain conductivity and performance over long periods remains a challenge for manufacturers.
  3. Lack of Standardization: The conductive fiber market is still evolving, and there is a lack of standardization in terms of material properties, performance metrics, and manufacturing processes. This can create inconsistencies in product quality and performance, affecting consumer trust and adoption.
  4. Complex Manufacturing Processes: The integration of conductive materials into traditional fibers often involves complex manufacturing processes, which can slow down production and increase costs. Achieving large-scale production while maintaining the quality and consistency of the fibers remains a challenge for the industry.

Key Segments of Market Report

By Reinforced Material:

Based on reinforced material, the sector is divided into copper, carbon, nickel, lead, silver, and others.

By Application:

Conductive fiber has applications in non-woven fabric, woven fabric, and knitted fabric.

By Base Material:

By base material, the sector is segmented into cotton, nylon, polyester, wool, polyamide, and others.

By End-use:

The industry has applications in several end-use industries, including military and defense, aerospace and aviation, sports and fitness, consumer electronics, protection and safety, fashion and entertainment, transportation, architecture, and industrial belts. The protection and safety end-use is segregated into gloves, head and face protection, full body protective wear, and shoe cover.

By Region:

The sector is spread across North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.

Old Source: Conductive Fibers Market is projected to total USD 4.9 Billion by 2031 – Comprehensive Research Report by FMI

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Compressor Oil Market Demand to Reach USD 11,001.4 million by 2034: Synthetic and Bio-Based Oils Lead the Surge

The global sales of compressor oils are estimated to total USD 6,513.7 million in 2024. The market is poised to expand at a 5.4% CAGR during the forecast period, reaching a valuation of USD 11,001.4 million by 2034.

Synthetic oils remain a widely consumed oil type in the market. This is due to their excellent heat and wear resistance. The target segment is poised to expand at a CAGR of 4.9% during the assessment period.

East Asia is expected to dominate the global compressor oil market during the forecast period. It will likely hold 24.9% of the global market share in 2034. This is due to rapid industrial growth in countries like Japan, South Korea, and China.

The compressor oil industry is poised to exhibit steady growth during the assessment period. This is attributable to factors like:

  • Booming industrial sector
  • Rising adoption of HVAC systems in residential and industrial sectors
  • Increasing focus on energy efficiency
  • Growing popularity of bio-based compressor oils
  • Expanding infrastructure globally

The growing manufacturing and industrial sectors are leading to increased adoption of compressors and, consequently, compressor oils. Compressors are integral to various processes in industries such as automotive, electronics, and heavy machinery manufacturing, creating a consistent demand for high-quality compressor oils.

The growing adoption of HVAC systems in residential, commercial, and industrial sectors is another prominent factor impacting compressor oil sales. This is because HVAC systems require the use of compressors and compressor oils essential for the proper lubrication and functioning of compressors.

The market is witnessing a gradual shift toward bio-based compressor oils due to growing environmental concerns and a rising need for environmentally friendly lubricants. Similarly, the development of advanced compressor oils with improved performance and better stability will benefit the market.
Key Takeaways from the Report:

  • The global market for compressor oils is projected to total USD 11,001.4 million in 2034.
  • Based on oil type, the synthetic oil segment is estimated to account for about 57.9% of the overall market size.
  • By end-use industry, manufacturing & others segment is set to grow at a CAGR of 5.6%.
  • China’s market value is anticipated to total USD 1,652.1 million in 2034.
  • Demand for compressor oils in India is poised to grow with a CAGR of 5.3% through 2034.
  • Total compressor oil revenue in the United States is set to reach USD 1,409.9 million by 2034.

“Compressor oil is essential for lubricating the moving parts of a compressor. Thus, growing usage of compressors across industries like manufacturing, automotive, and oil & gas will likely boost sales of compressor oils through 2034,” Opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

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Who is Winning?

Leading compressor oil manufacturers listed in the report include

  • ExxonMobil Corporation
  • Quaker Chemical Corporation
  • Fuchs Petrolub SE
  • BP plc
  • TotalEnergies SE
  • Apar Industries Ltd.
  • Calumet Specialty Products Partners, L.P.
  • Chevron Corporation
  • China Petroleum & Chemical Corp (Sinopec Corporation)
  • Repsol SA
  • Philips 66
  • Raj Petro Specialities Pvt. Ltd
  • Nynas AB
  • Valvoline, Inc.
  • Shell plc.
  • Savita Oil Technologies Ltd.
  • The Dow Company

Key companies are concentrating on developing high-performance and environmentally friendly compressor oils to meet the evolving needs of end-use industries. They also use tactics like acquisitions, distribution agreements, facility expansions, partnerships, and mergers to strengthen their global footprint.

  • In May 2023, Luberef signed a Memorandum of Understanding (MOU) with APAR Industries Limited to build a Compressor Oil/White Oil plant at the LubeHub, supporting the localization of specialty products in KSA.
  • In 2020, APAR introduced POWEROIL Press C 220 compounded compressor oil to provide optimal resistance to water washing while lubricating compressors handling wet gasses.

More Insights into the Compressor Oil Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global compressor oil market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on oil type, compressor, sales channel, end-use industry, and region.

Market Segmentation

By Oil Type:

  • Synthetic Oil
  • Mineral Oil
  • Semi-Synthetic Oil
  • Bio-based Oil

By End-use:

  • Oil & Gas
  • Automotive
  • Power
  • HVAC-R
  • Manufacturing & Others

By Sales Channel:

  • OEM
  • Aftermarket

By Compressors:

  • Air Compressors
    • Reciprocating
    • Rotary Screw
    • Vane Type
    • Centrifugal
    • Axial
  • Refrigeration
    • Reciprocating
    • Scroll
    • Screw

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia Pacific
  • Middle East & Africa

Old Source: Compressor Oil Market Value to Reach US$ 11,001.4 Million by 2034: Amid Robust Industrial Growth Globally | Future Market Insights, Inc.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Potassium Formate Market Size to Reach USD 1190 million by 2033, Driven by Sustainability and Eco-Friendly Solutions

The global potassium formate industry share is anticipated to attain a valuation of USD 746.13 million in 2023 and is projected to accumulate over USD 1190 million by 2033, exhibiting a CAGR of 4.7% during the forecast period.

The surging demand for safe and eco-friendly heat transfer fluids is propelling potassium formate’s significance in the growing refrigeration industry, leading to substantial market growth during the forecast period.

Producers are now prioritizing heat transfer fluids based on potassium formate for refrigeration systems, replacing calcium chloride and other brine solutions due to their premium quality. Moreover, governments are also taking initiatives to support the refrigeration industry, promoting access to sustainable cooling solutions.

In March 2019, the government of India launched the India Cooling Action Plan (ICAP), outlining measures to reduce cooling demand, transition to better refrigerants, improve energy efficiency, and adopt advanced technology over 20 years. Potassium formate-based refrigerated systems are gaining traction in the commercial sector due to their non-toxic and non-hazardous properties, offering a promising technology option.

The market growth for potassium formate is driven by the continuous pressure on end-use industries to reduce operating costs, enhance efficiency, and boost productivity. This pressure impacts the supply chain, pushing end-use suppliers to invest in research and development to meet customer demands.

Key requirements from end-users, such as divergent needs for protection, agility, and efficacy of drilling fluids, lead to the incorporation of smooth fluids and high chemical strength in the drilling process.

The demand for potassium formate brine solutions is increasing due to their ability to effectively remove snow from aircraft surfaces without posing hazards, making them preferable over other alternatives on the market. Consequently, the growing demand for potassium formate in various applications acts as a driving force behind the market’s expansion.

Key Takeaways

  • The demand for potassium formate in China is projected to rise with a promising CAGR of 4.9% during the forecast period.
  • The market in North America is expected to thrive with a CAGR of 4.6% during the forecast period.
  • The United Kingdom market is anticipated to expand at a CAGR of 4.3% during the forecast period.

“Increasing pressure on end-use industries to reduce operating costs, enhance efficiency, and boost productivity is expected to drive the demand for potassium formate during the forecast period,”-comments an FMI Analyst

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Competitive Landscape

The market for potassium formate is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities.

Key Companies Profiled

  • BASF SE
  • Evonik Industries
  • Honeywell International Inc
  • Cabot Corporation
  • Addcon GmbH
  • Dynalene Inc.
  • Perstorp Holding AB
  • GELEST, INC
  • Tomiyama Pure Chemical Industries, Ltd.
  • ICL
  • TETRA Technologies, Inc.

Recent Developments in the Potassium Formate Market

  • In September 2022, OCOchem, a developer of innovative electrochemical technologies, received an extension of its US$ 1.1 million contract from the United States Army.
  • In 2021, BASF SE launched a new range of potassium formate-based fluids for aviation de-icing and anti-icing applications, offering superior performance and environmental advantages over conventional sodium formate or potassium acetate fluids.
  • In August 2021, Perstorp Potassium Formate obtained fertilizer certification, meeting all the regulations outlined in EC 2002/2003.
  • In 2021, Merck KGaA introduced the Calsalix range, a new line of potassium formate-based fluids designed for the oil and gas industry’s drilling and completion applications.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global potassium formate market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the potassium formate market, the market is segmented based on form, application, and region.

Key Segments Profiled in the Potassium Formate Market Industry Survey

By Form:

  • Brine (Liquid)
  • Powder (Solid)

By Application:

  • Drilling Fluid
  • De-icing
  • Heat Transfer Fluid
  • Others (fertilizer, feed)

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Rising Demand in Drilling and Hydraulic Fracturing Drives Oilfield Chemicals Market Towards USD 44580 million by 2033

The global oilfield chemicals market is predicted to grow at a compound annual growth rate (CAGR) of 4.5% throughout the forecast period, from its estimated valuation of USD 28534.31 million in 2023 to USD 44580 million by 2033.

The global market is anticipated to be driven by increasing demand for oilfield chemicals in various petroleum operations, including drilling, well stimulation, production, cementing, enhanced oil recovery, and hydraulic fracturing. Additionally, factors such as rising crude oil production, a shift toward unconventional drilling operations, and the growing complexity in operations are expected to fuel the demand for oilfield chemicals throughout the forecast period.

Deepwater and offshore exploration and production activities pose distinctive challenges. Specialized oilfield chemicals are essential in tackling challenges like wellbore stability, hydrate formation, corrosion, and flow assurance in demanding offshore environments. Also, the increasing production of oil and gas from new offshore projects globally is expected to drive the demand for oilfield chemicals, leading to market expansion.

Advances in oilfield technologies, such as horizontal drilling, hydraulic fracturing, and enhanced oil recovery, have enhanced operational efficiency and complexity. These techniques require specific chemical formulations and additives, driving the demand for oilfield chemicals.

The companies seek to maximize production rates and recovery factors, leading to increased demand for production chemicals that address various challenges. In addition, the combination of technological advancements and production optimization presents a potential opportunity for revenue growth in the oilfield chemicals industry.

According to Westwood Global Energy Group, twenty-one offshore oil and gas projects received final investment decisions in 2021. Projects like Sangomar in Senegal and the Cyprus-Greece Gas Pipeline are set to begin production in 2023 and 2025, respectively. These new offshore projects worldwide might increase oil and gas production, driving the demand for oilfield chemicals and fostering market growth.

Key Takeaways

  • The demand for oilfield chemicals in India is projected to expand with a promising CAGR of 4.6% during the forecast period.
  • The market in GCC countries is expected to attain an overall CAGR of 5% during the forecast period.
  • The sales of oilfield chemicals in North America are expected to rise with a CAGR of 4.8% during the forecast period.
  • By product type, Inhibitors are expected to generate significant demand with a CAGR of 5.5% during the forecast period.

“Rising production of oil & gas from new offshore projects across the globe is expected to bode well for market growth,” comments an FMI Analyst

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Competitive Scenario:

The market for oilfield chemicals is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities.

Innovations in the Oilfield Chemicals Market

  • In May 2021, Schlumberger and NOV joined forces to enhance the adoption of automated drilling solutions for drilling contractors and oil & gas operators.
  • In December 2022, Champion X unveiled a new oilfield services chemicals lab and distribution facility in Chaguaramas, Trinidad.
  • In March 2022, Halliburton inaugurated the Halliburton Chemical Reaction Plant in Saudi Arabia.
  • In October 2022, Solvay Sodi declared plans for an alternative fuel thermal processing plant. The company, through its subsidiary “Devnya Energy,” submitted an investment intention letter to the Regional Inspectorate of Environment and Water in Varna.

Key Companies Profiled

  • Albemarle Corporation
  • Akzo Nobel N.V.
  • DowDuPont Inc.
  • Baker Hughes, a GE Company LLC
  • Halliburton Co.
  • BASF SE
  • Flotek Industries, Inc.
  • Ashland Inc.
  • Schlumberger Limited
  • Solvay SA
  • Clariant AG
  • GEO Drilling Fluids, Inc.

Key Segments Profiled in the Oilfield Chemicals Industry Survey

By Product Type:

  • Inhibitors
    • Scale Inhibitors
    • Corrosion Inhibitors
    • Paraffin Inhibitors
  • Lubricants
  • De-Emulsifiers
  • Viscosfiers
  • Gas Well Foamers
  • Biocides
  • H2S Scavengers
  • Others

By Application:

  • Drilling & Completion
  • Cementing Chemicals
  • Stimulation Chemicals
  • Oil Production Chemicals
  • Enhanced Oil recovery Chemicals

By Terrain Type:

  • Onshore
  • Offshore

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

Old Source: https://www.globenewswire.com/en/news-release/2022/02/25/2392406/0/en/Oilfield-Chemicals-Market-to-be-worth-US-36-533-Million-by-the-year-2029-Comprehensive-Research-Report-by-FMI.html

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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Advanced Wound Dressing Market Set to Reach USD 8,374.50 Million by 2034 at a 2.80% of CAGR , Driven by Innovations in Healthcare

Advanced Wound Dressing Market
Advanced Wound Dressing Market

The global advanced wound dressing market is set to grow significantly, with an estimated valuation of USD 6,353.7 million in 2024. Driven by continuous advancements in the medicare industry, particularly in wound care technologies, the market is projected to expand at a CAGR of 2.80%, reaching USD 8,374.50 million by 2034.

The global wound care landscape is set to benefit from this surge in investment and research, leading to better care, faster recovery times, and a higher quality of life for patients suffering from a wide range of wound types.

An exciting development to watch is the integration of biomaterials like alginates and silver into topical wound healing treatments, which is poised to further propel sales. These advancements are inspiring leading industry players to pioneer effective and cutting-edge solutions for advanced wound healing, ensuring a promising future for the market.

Product developments in the advanced wound dressing segment such as hydrogels, collagen, and hydrocolloids are on the cards. Apart from these products, the emergence of negative pressure wound therapy devices will boost sales in the market.

Besides this, government-backed initiatives such as public health insurance schemes in countries including the U.S., the U.K., and China will create lucrative growth opportunities in the advanced wound management industry.

Key Takeaways from the Global Advanced Wound Management Industry Analysis

  • Advanced wound dressing is anticipated to dominate the product segment.
  • Based on application, chronic ulcers will witness increasing adoption of advanced wound management.
  • Hospitals, followed by clinics are expected to account for maximum market sales.
  • The U.S. is projected to witness high demand in the advanced wound management market, owing to increasing number of diabetic patients in the country.
  • The U.K. will emerge as a lucrative market with rapid product developments by leading players.
  • China will exhibit high demand for advanced wound management due to increasing incidence of chronic wounds and reimbursements for medical expenditure.
  • The advanced wound management industry in India is expected to grow at a steady pace, owing to growing cases of road accidents and chronic wounds.

“Increasing research and development activities aimed at offering advanced wound healing devices and fast-track approvals for novel advanced wound management products are anticipated to propel sales in the market through 2031,” says the FMI analyst.

Growing investments in the healthcare sector, coupled with innovations in advanced wound management products are anticipated to positively shape demand in the upcoming years.

Global Advanced Wound Management Industry Competitive Landscape

As per FMI’s analysis, ConvaTec Group Plc. Coloplast A/S, Molnlycke Health Care AB, 3M Healthcare, and Smith & Nephew PLC.

Key players operating in the advanced wound management market are actively focusing on product innovations, strategic collaboration, mergers, acquisitions, and government approvals as a part of their growth strategies. For instance:

  • In July 2021, Ethicon Inc., a part of the Johnson & Johnson Medical Devices Company, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Designation for the company’s transbronchial microwave ablation technology. The advanced technology uses robotic-assisted bronchoscopy for the treatment of debilitating diseases and conditions.
  • In July 2021, Illinois-based Medline Industries announced its plan to open a new distribution center worth US$ 100 Mn in the Katy area. The new distribution facility will bring the company’s total employee strength to around 375 employees.

A Full Report Analysis Click Here

Global Advanced Wound Management Industry by Category

By Product Type: 

  • Advanced wound dressings
    • Alginates
    • Collagens
    • Films
    • Foams
    • Hydrocolloids
    • Hydrofibers
    • Hydrogels
  • Wound contact layers
  • Superabsorbent dressings
  • Negative pressure wound therapy devices
    • Standalone NPWT devices
    • Portable NPWT devices
    • Single-use disposable NPWT devices
    • NPWT accessories

By Application Type:

  • Chronic ulcers
    • Venous leg ulcers
    • Diabetic foot ulcers
    • Pressure ulcers
  • Non-healing surgical wounds
    • Traumatic wounds
    • Burn cases

By End-User Type:

  • Hospitals
  • Clinics
  • Ambulatory surgical centers
  • Skilled nursing facilities

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global IVD Antibodies Market to Reach Nearly USD 2 Billion by 2032 at a 3.8% of CAGR

Global IVD Antibodies Market
Global IVD Antibodies Market

The global in vitro diagnostics (IVD) antibodies market is poised for steady growth, projected to exhibit a compound annual growth rate (CAGR) of approximately 3.8% during the forecast period from 2022 to 2032. By the end of this period, the market is expected to reach a valuation of nearly USD 1.38 billion. This growth is primarily fueled by the rising prevalence of chronic and infectious diseases worldwide and an increasing emphasis on early diagnosis to facilitate timely and effective treatment.

Key Market Drivers:

  1. Increasing Disease Incidence: The global surge in chronic and infectious diseases is a major catalyst for the demand for IVD antibodies. Conditions such as diabetes, cardiovascular diseases, and various infections necessitate accurate diagnostic tools to monitor and manage patient health effectively.
  2. Need for Early Diagnosis: There is a growing recognition of the importance of early diagnosis in the management of chronic diseases. Healthcare providers are increasingly focusing on identifying diseases at an earlier stage to improve patient outcomes and reduce healthcare costs. This shift towards preventive care is propelling the demand for IVD antibodies.
  3. Technological Advancements: Innovations in diagnostic technologies are enhancing the sensitivity and specificity of IVD tests. Advances in antibody development and testing methodologies are making it easier for healthcare professionals to obtain accurate results, further driving market growth.
  4. Rising Healthcare Expenditure: Increased investments in healthcare infrastructure and rising healthcare expenditures in both developed and developing regions are contributing to the growth of the IVD antibodies market. Governments and private sectors are focusing on enhancing diagnostic capabilities to improve public health outcomes.
  5. Growing Awareness of Health Issues: The increasing public awareness of health and wellness is prompting individuals to seek regular health check-ups and screenings. This trend is encouraging the adoption of IVD tests, thereby boosting the market for IVD antibodies.

Global IVD Antibodies Industry: Drivers and Restraints:

Increasing incidence of chronic diseases such as HIV, hepatitis, cancer, cardiovascular diseases, etc. expected to drive the growth of Global IVD Antibodies Industry. Incidence of cancer and cardiovascular diseases is increasing rapidly and hence aging population of world further expected to drive the growth of IVD antibodies market. The ease of use of IVD antibodies for the diagnosis at laboratories, hospitals or even at home further increases patient compliance and makes IVD antibodies preferred choice.

The IVD antibodies market is further driven by increasing research and development funding which in turn improving the outcome of diagnostic tests as well as manufacturing of high end quality IVD antibodies for assays. Manufacturers in the Global IVD Antibodies Industry are focusing on mergers, acquisitions, collaborations and agreements such as Sebia Inc. one of the major IVD manufacturing company signed an agreement with Janssen Biotech to develop multiple myeloma IVD test. Whereas, low product penetration and higher cost of the IVD antibodies may hamper the potential growth of the market. Although manufacturers are focusing on developing novel IVD antibodies for diagnosis of different diseases but time consuming nature of research and development and tedious product approval process may hamper the growth of market.

Global IVD Antibodies Industry: Overview

The Global IVD Antibodies Industry is majorly driven by the increasing chronic disease incidence as well as increasing product penetration in the low and middle income countries. By product type, Global IVD Antibodies Industry is expected to be dominated by the tumor markers due to high adoption for the diagnosis of malignancies. By the application, the IVD antibodies market is dominated by the cancer due to high number of diagnostic procedures. By end user, IVD antibodies market is dominated by the diagnostic laboratories due to high patient footfall for the disease diagnosis. The increasing R & D expenditure by leading biopharmaceutical companies for the development and evaluation of IVD antibodies for different diagnosis of various diseases expected to impact the market significantly.

Global IVD Antibodies Industry: Regional Outlook

The Global IVD Antibodies Industry is dominated by North America due to higher product penetration. Europe is expected to be the second most lucrative IVD antibodies market due to higher number of diagnostic procedure and favorable reimbursement scenario. Latin America is expected to experience steady market growth due to increasing IVD antibodies adoption for the diagnostic procedures. Asia-Pacific is emerging market in IVD antibodies due to rapidly increasing product penetration, and emerging countries such India and China where healthcare infrastructure evolving rapidly. Middle East and Africa is expected to be least revenue generating IVD antibodies market due to low product penetration as well as limited availability of good healthcare infrastructure in most of the MEA region.

Global IVD Antibodies Industry: Key Players

The key market participants operating in the Global IVD Antibodies Industry are: Abcam plc., Thermo Fisher Scientific, Rockland Immunochemicals Inc., GenScript, Bio-Rad Laboratories, Inc., SDIX, LLC., Advy Chemical Pvt. Ltd., MEDICAL & BIOLOGICAL LABORATORIES CO., LTD., HyTest Ltd., Abbott and Others

The research report presents a comprehensive assessment of the Global IVD Antibodies Industry 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 for IVD Antibodies market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

  • IVD Antibodies Market Segments
  • IVD Antibodies Market Dynamics
  • IVD Antibodies Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Indication
  • Value Chain

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 excluding Japan (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, South Africa, Northern 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.

A Full Report Overview

Global IVD Antibodies Industry: Segmentation

The Global IVD Antibodies Industry is segmented based on the product type, application, end user and region

By product type Global IVD Antibodies Industry is segmented as:

  • Cardiac Markers
  • Tumor Markers
  • Kidney Injury Markers
  • Infection and Inflammation Antibodies

By application, Global IVD Antibodies Industry is segmented as:

  • Immunology
  • Cancer
  • Cardiovascular Diseases

By end user Global IVD Antibodies Industry is segmented as:

  • Hospitals
  • Diagnostic Laboratories
  • Homecare settings
  • Others

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Weight Management Market Poised for Significant Growth, Projected to Reach US$ 725.6 Billion by 2032

Weight Management Market
Weight Management Market

The global weight management market is on track for robust growth, projected to reach approximately USD 725.6 billion during the forecast period from 2022 to 2032, reflecting a compound annual growth rate (CAGR) of 7.7%. This anticipated growth is largely attributed to the rising adoption of sedentary lifestyles, which is increasing the demand for efficient weight management solutions.

In the previous year, the market experienced a notable incline, achieving a year-on-year growth rate of 8.3% from 2021 to 2022, bringing its value to USD 345.5 billion. The market was valued at USD 319 billion in 2021, showcasing a strong upward trajectory fueled by a growing awareness of health and wellness.

The rising adoption of sedentary lifestyles, coupled with increasing rates of obesity and associated health conditions, has led to a surge in demand for efficient weight management solutions. Consumers are increasingly seeking weight loss programs, fitness regimes, and dietary products that can help them maintain a healthy lifestyle.

This growth is largely driven by the increasing prevalence of sedentary lifestyles, which is fueling the demand for effective weight management solutions. As more individuals seek to address weight-related health concerns, the need for comprehensive and efficient weight management systems is becoming more critical.

In the period from 2021 to 2022, the market experienced a noteworthy Year-on-Year (Y-o-Y) growth rate of 8.3%, culminating in a valuation of US$ 345.5 Billion. This robust growth follows the market’s standing at US$ 319 Billion in 2021, emphasizing the sector’s resilience and continuous evolution.

For example, in 2019, franchise owners in Metro Detroit unveiled a new Crunch Fitness gym in Waterford Township, marking the fifth fitness center established by the company in addition to its other branches in Farmington Hills, Westland, Dearborn, and Taylor. These developments highlight the region’s potential for significant market expansion in the upcoming years.

In the preceding year, from 2021 to 2022, the market demonstrated robust year-on-year (Y-o-Y) growth at an impressive rate of 8.3%, culminating in a total valuation of US$ 345.5 billion. Notably, as of 2021, the Global Weight Management Industry already boasted a substantial worth, valued at US$ 319 billion.

This significant market expansion underscores the growing awareness and commitment to maintaining a healthy weight, as individuals increasingly seek innovative solutions to address their weight-related concerns.

As per the Institute of Health Metric and Evaluation, 30% of the world’s population is obese. Obese is one of the major health challenges in developed and developing countries. Also, the rising volume of bariatric surgeries and the rising adoption of online weight loss & management programs are anticipated to positively influence the industry in the forecast period.

The growing prevalence of obesity among the expanding population is expected to propel the market expansion during the forecast period. As per the World Obesity Atlas 2022, one billion people globally, including 1 in 5 women and 1 in 7 men, will be living with obesity by 2030. This significant rise in the number of obese patients is anticipated to drive demand for an efficient weight management system. Further, growing awareness about weight management and obesity among developing nations is expected to drive market growth in the coming period.

Increasing strategic collaborations of players with each other are expected to drive market growth during the forecast period. In September 2019, Currax Pharmaceutical disclosed the acquisition of Nalpropion Pharmaceuticals. This acquisition resulted in the addition of Contrave anti-obesity medication to Currax’s product portfolio. Similarly, in November 2019, Novo Nordisk collaborated with UNICEF to prevent children from obesity. Such partnerships among players are expected to benefit the industry growth during the forecast period.

Lack of awareness regarding obesity and the inability to afford premium health club memberships among developing countries are expected to impact the market negatively in the forthcoming period. As per IQVIA, only 2% of the total obese population is treated with prescribed medicines. Further, the presence of a limited number of market players is another cause hindering the expansion. However, rising disposable income and increasing awareness about the alternatives for weight loss and management can propel market growth in the forecast period.

Key Takeaways from the Market Study

  • Weight management market to secure US$ 725.6 Billion during the forecast period from 2022 to 2032.
  • By equipment, the fitness equipment segment is anticipated to expand at a CAGR of 7.6% during the forecast period.
  • The weight management industry to be dominated by the U.S while garnering US$ 250 Billion by 2032
  • The weight management industry in China is expected to expand at the highest CAGR of 6.8% during the forecast period
  • The weight management market in Japan is estimated to reach US$ 41.1 Billion by 2032

 “Increasing cases of obesity and the growing health concerns among baby boomers are expected to support the market expansion in the coming time,” remarks an analyst at FMI.

Competition Analysis

Key players in the industry include Herbalife Nutrition Ltd., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Inc., and Brunswick Corporation. Major developments in the market are:

  • In June 2022, Herbalife Nutrition inked a sports nutrition partnership with Notre Dame shooting guard Blake Wesley, who has been training at the Herbalife Nutrition IMPACT Basketball Center.
  • In January 2021, Herbalife Nutrition, an eminent nutrition company, announced that it had inked an agreement to repurchase approximately US$ 600 million of the Company’s common share beneficially owned by Carl C. Icahn and certain of his affiliates for US$ 48/05 per share.
  • In December 2020, Kainos Capital, a firm focused on specializing in managing food and consumer businesses, completed the acquisition of Nutrisystem from Tivity Health for US$ 575 Million. The private Capital Group of MSD Partners, LP partnered with Kainos Capital in the transaction in the form of preferred and common equity investment.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Weight Management Industry, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Diet (Meals, Beverages, Supplements), Equipment (Fitness Equipment, Surgical Equipment), Services (Fitness Centers, Slimming Centers, Consultation Services, Online Weight Loss Services), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).

A Full Report Analysis Click Here

Key Segments Profiled in the Global Weight Management Industry Report

Global Weight Management Industry by Diet:

  • Weight Management Meals
  • Weight Management Beverages
  • Weight Management Supplements

Global Weight Management Industry by Equipment:

  • Weight Management Fitness Equipment
  • Weight Management Surgical Equipment

Global Weight Management Industry by Services:

  • Weight Management across Fitness Centers
  • Weight Management across Slimming Centers
  • Weight Management Consultation Services
  • Weight Management through Online Weight Loss Services

 Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Chip Warmer Market Revenue Share to Reach USD 5.1 Billion Milestone by 2033, Growing Steadily at 4% CAGR | FMI Projection

The global chip warmers market, valued at USD 3.4 billion in 2023, is projected to experience a robust and steady upward trajectory, boasting a compound annual growth rate (CAGR) of 4.0% from 2023 to 2033. By 2033, this market is anticipated to reach a significant milestone of USD 5.1 billion, indicative of the escalating demand for these essential foodservice appliances.

A pivotal factor fueling this remarkable expansion is the surge in outdoor events and food festivals. In an era where experiences and culinary delights take precedence, these gatherings have become focal points of entertainment and gastronomic excellence. Whether it’s a lively music festival, a quaint local fair, or a bustling food market, chip warmers assume a pivotal role in ensuring that the crispy, savory treats they hold remain irresistibly warm and appealing. This trend underscores the essential role chip warmers play in enhancing the culinary experience at such events.

Browse Full Report Here

Key Trends:

  • Food Safety Regulations: Strict regulations and guidelines on food safety and hygiene are driving the demand for chip warmers as they help maintain proper temperature control for chips, ensuring compliance with food safety standards.
  • Customization and Flavor Innovation: The trend of offering customized and innovative flavors in the food industry is boosting the use of chip warmers, allowing establishments to keep a variety of flavored chips warm and fresh to cater to consumer preferences.
  • Hospitality and Tourism Demand: The expansion of the hospitality and tourism sector, including hotels, resorts, and theme parks, is creating a significant need for chip warmers in snack bars, cafes, and restaurants to maintain snack quality and enhance guest experiences.
  • Sustainability and Energy Efficiency: Increasing emphasis on sustainability and energy efficiency is driving the development of eco-friendly and energy-efficient chip warmers, appealing to businesses seeking environmentally responsible equipment solutions.

Key Takeaways:

  • The global chip warmers market reached a value of USD 3.3 billion in 2022.
  • The market witnessed a CAGR of 2.4% during the period from 2018 to 2022.
  • North America is projected to lead with a dominant CAGR of 3.9% throughout the forecast period.
  • Anticipated to flourish at a CAGR of 4.0%, the chip warmers market is set for growth from 2023 to 2033.
  • By 2033, the market value of chip warmers is expected to achieve USD 5.1 billion.
  • The countertop segment is forecasted to hold a CAGR of 3.9% in 2033 by product type.
  • The commercial segment is expected to dominate the market, showcasing a CAGR of 3.8% in 2033 based on application.

Market Competition:

Key players in the chip warmers market include Hatco Corporation, Nemco Food Equipment, Star Manufacturing International Inc., Vulcan Industries Inc., APW Wyott, Avantco, FEM (Foodservice Equipment Marketing Ltd.), Vollrath Company, LLC, Duke Manufacturing Co. Inc., Hatco Europe Ltd., and Cres Cor, among others.

Recent Innovations:

  • In 2022, Nemco Food Equipment introduced the ‘Countertop Chip Warmer and Display’, featuring a heated base and glass display case for maintaining warm and visually appealing chips. Suited for cafes, delis, and concessions.
  • Hatco Corporation launched the ‘Glo-Ray LED Lighted Chip Warmer’ in 2021, integrating energy-efficient LED lighting to enhance chip visibility and presentation. This innovative solution combines modern design and temperature control.
  • Avantco Equipment unveiled the ‘Freestanding Chip Warmer Merchandiser’ in the same year, boasting a spacious display area, adjustable temperature control, and glass panels for optimal visibility. The freestanding design suits convenience stores, stadiums, and snack bars.

Key Segmentation:

By Product Type:

  • Countertop
  • Built-in

By Application:

  • Commercial
  • Restaurants
  • Hotels
  • Catering Services
  • Residential

By Region:

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

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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