Market Research Blog

Future Market Insights (FMI) has forecast the global synthetic leather market to register year-on-year growth of 4.50% in 2021. Sales of synthetic leather are expected to reach US$ 34.1 Bn, surpassing 40,119 KT by the same year.

Synthetic leathers are versatile in terms of application and are used in manufacturing of footwear, furnishings, garments, and luxury items. Increasing demand for synthetic leather can be attributed to mounting concerns regarding the environmental impact of natural leather and changing consumer preference towards animal free and vegan products.

Stringent animal cruelty regulation, growing awareness regarding various attributes of synthetic leather, and increasing price of natural leathers are key factors driving the market throughout the assessment period.

Superior physical and functional properties of synthetic leather over traditional leather and increasing research and development undertaken to discover cost effective alternatives to natural leather will play a key role in boosting the demand for synthetic leather, says FMI.

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Automotive industry is gradually transitioning from natural leather to lightweight synthetic leather interiors. Due to increasing demand for lightweight automobiles, sales of synthetic leather are expected to growth significantly over the forecast period.

Lightweight vehicles consume less fuel and offer more mileage, thus contribute in reducing carbon dioxide emission. Research and development has identified a direct correlation between fuel economy and vehicle weight.

This has compelled automotive manufacturers towards reducing curb weight of the automobile and pushed them to adopt lightweight synthetic leather for manufacturing of vehicle seat, doors, dashboard, and steering covers.

Thus top original equipment manufacturers are adopting lighter materials in vehicles, spurring the demand for synthetic leather in automotive industry.

Key Takeaways from FMI’s Synthetic Leather Market Study

• Increasing demand for vegan and bio-based synthetic leather for bags and sportswear manufacturing along with increasing sales of mobile and laptop protective covers in U.S. will assist the North America synthetic leather market to grow at 3.70% CAGR through 2031.
• Synthetic leather sales in Europe is forecast to increase at 3.60% CAGR during the assessment period, backed by booming fashion and automotive industries in Western Europe region and growing awareness regarding negative impact of leather tanning on environment among the population.
• India will offer significant growth opportunities in synthetic leather market due to increasing sales of designer footwear and stringent government regulations towards processing of natural leather.
• Argentina is forecast to lead the synthetic leather market in Latin America owing to high demand for calfskin leather alternatives, increasing export of leather products, and strong economic growth in the country.
• Japan will hold around 11% of the global market share in 2021. Sales uptick can be attributed to increasing production and export of synthetic leather from the country.

“Gradual recovery of global economy post pandemic, rising awareness regarding animal cruelty, and focus on reducing the carbon footprint in fashion industry will fuel the demand for synthetic leather during the forecast period,” says the FMI analyst.

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Competitive Landscape

According to FMI, the global synthetic leather market is fairly consolidated, in which leading players account for two fifth of the market value share as of 2021.  Emergence of new start-ups and regional players is expected to make market highly competitive in upcoming years.

Top market players are adopting organic growth strategies such as the introduction of new and advanced materials to strengthen their position in this evolving market. For instance, in September 2020, Gordini launched “Clutch™ Synthetic Leather” which is an excellent alternative to natural leather and is claimed to outperform traditional leather.

Natural Fiber Welding Inc. introduced its first 100% plant based leather called “Mirum” in Bio-Based Summit 2021. This synthetic leather is made from recycled cotton, hemp, natural rubber, cork and vegetable oil. This leads to reducing carbon impact by 40% and 17X less carbon emission than plastic based synthetic leather.

Manufacturers are forming strategic partnerships and collaboration to gain market advantage and survive in this highly competitive market. For instance, in 2021, Natural Fiber Welding Inc. (NFW) joined hands with San Francisco-based footwear brand Allbirds for developing bio-based synthetic leather and reduce its prices.

Allbirds invested around US$ 2 Mn in NFW to boost the production of plant based leather and eradicate fossil fuel-based materials from the fashion industry.

Prominent players operating in the synthetic leather market are:-

• Kolon Industries Inc.
• Mayur Uniquoters Ltd.
• Gruppo Mastrotto S.p.A.
• Alfatex.
• Achilles Corp.
• Teijin Limited
• Nan Ya Plastics Corporation
• Asahi Kasei Corporation
• Toray Group Kuraray Co., Ltd.
• Daewon Chemical Co Ltd.
• Leather Resource Of America Inc.
• Comfort Int’l Co., Ltd
• Sheng Hung Industrial Co. Ltd.
• Plastics Elche S.A

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More Insights on the Global Synthetic Leather Market

In its latest report, FMI offers an unbiased analysis of the global Synthetic leather market, providing historical data for the period of 2017-2027 and forecast statistics for the period of 2021-2031.

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material type (polyvinyl chloride, polyurethane, and bio based), application type (footwear, furnishing, automotive, clothing, bags, sports, and electronics) and across seven major regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa).

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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A new market study by Future Market Insights on the global coil coatings market, evaluates key industry trends for the historical period 2014–2021 and forecasts the coil coatings market growth for the 2022–2029 period.

The report covers latest market dynamics, trends, macroeconomic factors, key success factors, industry value chain, forecast factors, opportunity assessment, incremental $ opportunity and competition analysis of all the major manufacturers involved in the coil coatings market. Topcoats remain highly preferred among end-use industries, especially in construction sectors, as compared to primers and backing coats.

Topcoats are used to provide color and gloss along with mechanical, chemical, and UV resistance to finished coils, and hence are widely adopted across the globe. The global coil coatings market value at US$ 5.0 Bn in 2022, and is projected to grow at a moderate CAGR of 4.7% during the estimated period of 2022-2029.

As per the findings of the study, the global coil coatings market is expected to witness moderate growth in terms of CAGR over the forecast period due to the recovering construction industry and growing investments driving number of new infrastructure projects.

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Aesthetic Properties of Coated Metal Sheet to Uphold the Market Growth

Development of new and innovative products will continue to have a tremendous impact on the industry and play an important role to promoting the coil coatings market growth in near future. Coil coated metal sheets provide architects with large number of design possibilities, while also allowing them to play with various colors, shapes, effects, and textures.

A steady stream of newly developed coatings, such as heat absorbing, heat reflecting, dirt-shedding, self-cleaning, etc. are finding their way into exterior building applications. These new functional coil coatings are a result of the environmental aspect being a strong factor in coil coatings’ development.

Emergence of Low-cost Products to Limit Coil Coatings Market Growth

Growing demand for high performance and low cost coil coatings is expected to be a restraining factor in the overall coil coatings market growth. These days, cheap pre-coated aluminium and steel coils are increasingly being imported, particularly from Asia Pacific.

Unfortunately, the quality and performance of these products are lower than that of European standards. However, it is unlikely to impact the end users, as white cladding, irrespective of its durability, is widely preferred.

Coil Coatings Market: Vendor Insights

The global coil coatings market is fairly consolidated, with the top four players – Akzo Nobel N.V., PPG Industries Inc., Valspar Corporation and Beckers Group – holding ~60% market share. This is mainly attributed to the fact that the major players are availed with better equipment and technology for the manufacturing of coil coatings.

On the other hand, tier-2 and other players have limited global reach and manufacturing capabilities. These players’ main focus is the local clientele and to have a significant presence in their respective regional markets. Manufacturers are also focusing on mergers and consolidations of business to improve their product portfolio and market presence.

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Some of the key developments in the coil coatings market are:

• In 2021, BlueScope’s U.S. coil coatings and roll forming assets entered into a joint venture with the Tokyo-based steel manufacturing company Nippon Steel.
• In 2014, PPG Industries, Inc. introduced DURASTAR ULTRA-COOL coatings, which enhances the aesthetic and also extends the life of panels, siding, and other components.

Coil Coatings Market By Category

Material Type :

• Polyester
• Epoxy
• PVC
• Plastisols
• Acrylic
• Polyurethane
• PVDF
• Silicone

End Use :

• Construction
• Transportation
• HVAC
• Metal Furniture
• Others

Product Type :

• Topcoats
• Primers
• Backing Coats
• Others

Application :

• Steel
• Aluminum

How Is The Oil And Gas Industry Pushing Sales In The Coil Coatings Market?

The ever-increasing demand for oil and gas resources across the globe is a chief factor expected to propel the market in the forthcoming years. Rising utilization of alloys and metals, especially steel in reactors, pipelines, and structures in the oil and gas industry is estimated to boost the market.

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Most of the steel products required in oil and gas plants worldwide need coil coating paint before these are utilized for various applications. Rising extraction of oil and gas in untapped regions is another factor that is likely to aid growth.

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The demand for highly fuel-efficient automotive systems and increasingly stringent emission standards implemented by governments around the world drives the growth of the gasoline direct injection market. The market is estimated to grow at an exponential rate of over 14% through the forecast period 2021 – 2031.

Adoption of gasoline direct injection systems can be largely accounted for by commercial and passenger vehicles, with major manufacturers such as Ford, BMW, Daimler, and more incorporating relevant technologies in mid to high end gasoline vehicles.  Major market players are focused on research towards technology improvements.

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Fuel injector systems are estimated to hold major market share owing to the demand for high levels of precision for efficient fuel combustion. Improved control over exhaust emissions and air-fuel mixtures, and real-time monitoring of fuel regulators in terms of delivery pressure will contribute to demand in the long term. This is especially true with the increased incorporation of electronic control units in the automotive sector.

Developments in the industry covering flexibility in multiple input and output channels for better signal transfer will aid in the proliferation of gasoline direct injection systems. Particulate emission reduction research will also gain ground in the near future.

Despite high demand in the industry, market players face a number of challenges that could impact sales and revenue in the coming decade. For instance, gasoline direct injection systems are relatively cost-prohibitive owing to the use of high-pressure parts in the system. Furthermore, post combustion particulate emissions remain a challenge for manufacturers. Also, the growing popularity of electric vehicles in the automotive sector is an obstacle that is likely to hinder sales and revenue generation in the market in terms of long-term market prospects.

Key Takeaways in the Gasoline Direct Injection (GDI) Market Study

• The global gasoline direct injection market will rise at around 14% CAGR between 2021 and 2031.
• Rapid growth of automotive production rates in China and India, drives a relatively higher rate of growth in the industry of the Asia Pacific excluding Japan market.
• Steady rise in volume of vehicle production and growing focus on maintenance and aftermarket services have been driving growth in the United States.
• Following a moderate slump, sales are expected to recover in the Germany and France markets, driven by high fuel economy technologies.
• Strict implementation of stage 6 emission standards in terms of new vehicle registrations drive adoption and sales of gasoline direct injection technologies in the United Kingdom.

“The global gasoline direct injection (GDI) system market is projected to witness a high growth rate during the forecast period owing to benefits such as improved engine performance, engine downsizing, high fuel efficiency, thermal efficiency, and major reductions in emission volumes, which will continue to gain traction with the imposition of increasingly stringent regulations,” says the FMI analyst.

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Key Segments

Stroke Type

• 2 Stroke
• 4 Stroke

Vehicle Type

• Compact Vehicle
• Mid-Sized Vehicle
• Premium Vehicle
• Luxury Vehicle
• Commercial Vehicle
• Heavy Commercial Vehicle

Sales Channel

• OEM
• Aftermarket

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Who is Winning?

The global gasoline direct injection market is moderately fragmented with a number of regional players contributing to the industry. Major players in the market are likely to invest extensively in new technologies and research & development efforts to consolidate their market position.

The gasoline direct injection market is expected to grow exponentially during 2021 to 2031. As a rapidly growing market, companies are likely to gain impetus from changes arising from strict emission standards and regulations being implemented around the world.

Some of the leading players include but are not limited to Delphi Automotive Plc, Continental AG, Renesas Electronics Corporation, Magneti Marelli S.p.A., Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, Eaton Corporation Plc., TI Group Automotive Systems, LLC, and STMicroelectronics NV.

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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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Specialty paper is used in packaging, printing and writing, and building and construction sectors. Their increasing application across diverse sectors can be attributed their moisture resistance, low-weight, waterproofing, cost-effective, and customizable characteristics.

According to a Future Market Insights (FMI) report, the market is expected to surpass US$ 14.9 Bn in 2021, at a CAGR of 5.1% between 2021 and 2031.

Specialty paper is available as décor paper, kraft paper, thermal paper, and carbonless paper. Of these, its application for décor purposes accounts for maximum sales in the market. Also, specialty paper is non-reactant in nature which is suitable for food and beverage packaging.

In the past few years, specialty paper has gained immense popularity as it provides better aesthetics. The report foresees ample opportunities for manufacturers in the near future due to the rise in usage of the specialty paper in various sectors.

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The expansion of the E-commerce industry means a rise in demand for packaging materials to ship products across the world. Specialty paper offers a wide range of packaging solutions to the e-commerce industry and to its logistics partners. Spurred by this, the demand for specialty papers is expected to surge in the near future.

Paper sourced from wood and wood pulp is considered to be environmentally-friendly, in comparison to plastic, which takes a longer period to decompose. Presence of untapped markets can provide lucrative opportunities for market players, especially those extending biodegradable offerings.

Key Takeaways from Specialty Paper Market

• Décor paper is estimated to hold nearly 2/5^th value share in the global market in 2021 and expected to expand by 240 bps by 2031 owing to increasing use in building and construction sector.
• Kraft paper demand is expected to grow at 6.5% CAGR during 2021-2031. Increasing demand for sustainable bags and pouches will drive growth in the segment.
• The U.S. will hold the lead in North America, accounting for more than 6 times the value share of Canada in 2021.
• Germany, driven by the presence of leading market players will account for more than 22% of the Europe market will hold the lead in 2021.
• Strong growth in the automotive and construction sectors will drive the China market, which is expected to account for more than 71% of the East Asia market value share by 2031.

 “Specialty papers sales are surging on the back of rising application in the packaging industry. Focus on offering attractive packaging without hampering product quality will fuel demand for specialty papers. Their application also is expected to surge as a non-reactant material,” said a FMI analyst. 

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Impact of COVID-19 on the Specialty Paper Market

The specialty paper market has been negatively impacted as sales slumped amid the COVID-19 pandemic. This can be attributed to restrictions imposed on operation and production activity in various end-use industries which directly affected market growth.

Disruptions in logistics and supply chains hampered market growth. The building and construction sector was also impacted by COVID-19 which contributed to the adverse impact on specialty paper.

Since the beginning of 2021, players operating in specialty paper market have tried to push sales by increasing production capacity while offering innovative products. Overall, the market for specialty paper is expected to rise at a faster pace during the latter part of 2021.

Specialty Paper Market by Category

By Product Type:

• Décor
• Thermal
• Carbonless
• Kraft
• Other types

By End-Use Application:

• Printing and Writing
• Packaging
• Building and Construction
• Industrial
• Other Commercial End Use

Who is Winning?

Tier 3 players in the specialty papers market hold 60-70% of the global value share. Global leaders in turn contribute to around 30-40% of the global market.

International Paper Co., Oji Holdings Corp., and UPM-Kymmene Oyj are the top players operating in the specialty paper market. Furthermore, Stora Enso Oyj, Nippon Paper Industries Co., Ltd, and Mondi plc. are some of the leading players in the specialty paper market.

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More Valuable Insights into Specialty Paper Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global specialty paper market, analyzing historical demand from 2015-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the specialty paper market based on product type (décor, thermal, carbonless, kraft, and other types) and end-use application (printing & writing, packaging, building & construction, industrial, and other commercial end-use) across seven regions.

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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As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global rare earth metals market is poised to witness steady growth at around 6% CAGR, exceeding the market valuation of US$ 3,818.8 Mn between the forecast period 2021 and 2031.

Growing consumer preference towards electronic vehicles and rapid expansion of the automotive and electronic industry are emerging as chief factors augmenting the growth of the rare earth metals market.

Presence of high-growth potential industries including consumer goods and renewable energy in developed countries such as the U.S., the U.K., and Germany will propel sales in the market.

Permanent magnets used in wind turbines are produced from rare earth metals such as dysprosium and neodymium. Considering this, a steady expansion of wind turbine installations worldwide will create conducive environment for rare earth metals sales.

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Besides this, the market will continue gaining from application in manufacturing batteries installed in electric vehicles. With electric and hybrid vehicles sales forecast to gain momentum in the coming years, the demand for rare earth metals with consistently rise.

Rising digitization and urbanization in developing countries such as China, India, and South Korea is boosting the demand for consumer electronics, which in turn is fostering sales of rare earth metals.

As per FMI, Asia Pacific excluding Japan will continue exhibiting high growth within the global market. Within the region, the Neodymium segment is likely to gain remarkable 270 basis points by 2026 in comparison to that of 2016.

China, trailed by India, will emerge as the dominant market for rare earth metals in Asia Pacific. The continued surge in mining activities, besides expansion of electronics and automotive sectors will support growth in the country.

Key Takeaways from FMI’s Rare Earth Metals Market Study

• Neodymium will emerge as the most preferred metal type throughout the forecast period.
• Permanent magnets will dominate the application-type segment.
• The U.S. will exhibit high demand due to rapid expansion of automotive and renewable energy industries.
• China will lead the rare earth metals market owing to the presence of major players and increasing production of consumer electronics.
• The U.K. will experience steady growth, which is attributable to increasing demand by various end-use industries.
• South Korea and Japan will account for nearly 14% of the market share.

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“Companies operating in the market are adopting sustainable mining policies to gain competitive edge. Besides this, they are seeking approval from international organizations to aid capacity expansion,” says the FMI analyst. 

Competitive Landscape

China Northern Rare Earth (Group) High-Tech Co., Ltd., Rising Nonferrous Metals Share Co., Ltd., Lynas Corporation, China Minmetals Corporation Limited, and Aluminium Corporation of China Limited are some leading players operating in the rare earth metals market.

Key strategies being incorporated by manufacturers include emphasis on sustainable mining practices, research, and development regarding efficient use of metals, industry-grade machinery installations, and expansion of procurement facilities.

For instance:

• In December 2019, Lynas Corporation joined hands with Kalgoorlie Boulder, based out of Australia, to open a new processing plant for processing materials mined from the nearby Mt Weld lanthanide deposits.
• In June 2021, Arafura Resources Ltd., received approval and a Letter of Support from the Northern Australian Infrastructure Facility (NAIF) for the inclusion of its Nolan NdPr sites as a statutory defined area of North Australia, enhancing the sustainable mining practices in the region.

More Insights on the Rare Earth Metals Market

In its latest report, FMI offers an unbiased analysis of the global rare earth metals market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

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In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application type (catalysts, permanent magnets, metallurgy & alloys, polishing, glass, phosphors, ceramics, and others (fertilizers, pigments, defense, etc.) metal type (Neodymium, Yttrium, Dysprosium, Terbium, Europium, Cerium, Lanthanum) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan, and Middle East & Africa)

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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A comprehensive analysis on the [Metal & Metal Oxide Nanoparticles market] by 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.

Frontiers of nanotechnology continue to span across the globe and among diversified industrial verticals. Nanoparticles of various elements are gaining competence as crucial industrial constituents, and are witnessing a considerable rise in their applications.

Future Market Insights’ recent study explores the market for nanoparticles of metals and metal oxides, and projects that application of such nanoparticles will gain traction duet to their ground-breaking properties.

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According to Future Market Insights,

• High physical, chemical and surface properties of metal and metal oxide nanoparticles will fuel their applicability as effective bulk materials
• Metal and metal oxide nanoparticles will also play an instrumental role in manufacturing of innovative products offered in the global consumer electronics industry
• Versatile applicability of metal and metal oxide nanoparticles will also witness higher adoption for drugmakers and medical device manufacturers

The global market for metal nanoparticles is presently valued at US$ 13.7 Bn, and will soar at 13.9% CAGR to surpass US$ 50 Bn mark by the end of 2026. During this ten-year forecast period, the US$ 1.8 Bn global market for metal oxide nanoparticle will also surge robustly at 10.4% CAGR, and will procure over US$ 5 Bn revenues towards the end of period.

This clearly indicates that by the end of 2026, the global metal nanoparticles market will be worth ten times the projected value for global metal oxide nanoparticles market. Collectively, the global market for metal and metal oxide nanoparticles are bound to soar at more than 10% CAGR throughout the forecast period.

The report reveals that the demand for metal and metal oxide nanoparticles will remain considerably high in three regions – North America, Western Europe and the Asia-Pacific excluding Japan region. Towards the end of 2026, North America will dominate the global metal nanoparticles market with 30% share, while Europe will be at the forefront of global metal oxide nanoparticles market.

Companies such as Meliorum Technologies, Inc., Nanostructured & Amorphous Materials Inc., American Elements, SHOWA DENKO KK, and Tekna Systemes Plasma Inc. are recognised as key manufacturers of metal and metal oxide nanoparticles in the world.

Other leading participants in the global metal and metal oxide nanoparticles market include US Research & Nanomaterials Inc., Nanoshel LLC, Nanophase Technologies Corporation, Sigma-Aldrich Co. LLC and NanoComposix Inc.

The report further reveals that personal care & cosmetics industry will remain as the most lucrative end-user of metal and metal oxide nanoparticles. With over one-third revenues share for both, metal and metal oxide nanoparticles, personal care & cosmetic applications will be demanding greater use of such materials.

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Moreover, the demand for metal nanoparticles will also be high in defence sector, while metal oxide nanoparticles will gain traction in production of electrical and electronic products. Based on research findings, the report also estimates that by the end of 2026, nearly 50% of global metal nanoparticle revenues will be accounted by sales of iron nanoparticles. On the other hand, global revenues emanating from sales of zinc oxide nanoparticles will surge at 11% CAGR.

Global Metal & Metal Oxide Nanoparticles Market: Segmentation

To understand and assess opportunities in the global metal & metal oxide nanoparticles market, we have divided the report into four sections based on market segmentation as under:

By Metal Nanoparticles:

• Titanium
• Silicon
• Aluminium
• Iron
• Gold
• Copper
• Silver
• Magnesium
• Platinum
• Zinc
• Others (Nickel, Lead, Tin)

By Metal Oxide Nanoparticles:

• Titanium Oxide
• Bismuth Oxide
• Zinc Oxide
• Magnesium Oxide
• Aluminium Oxide
• Iron Oxide
• Copper Oxide
• Tungsten Oxide
• Other (Magnese oxide, cerium oxide, indium tin oxide)

By End Use Industry:

• Chemical & Coatings
• Pharma & Healthcare
• Transportation
• Personal Care & Cosmetics
• Electrical & Electronics
• Defence
• Other (Textile, rubber & plastic, etc.)

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Analyst Viewpoint

The introduction of the very new fluorescent copper nanoparticles (F-CuNP) has received great attention owing to their over attractive features such as water solubility, good biocompatibility and ease of functionality. Moreover, considerable efforts are being made for the application and preparation of these fluorescent copper nanoparticles (F-CuNP). F-CuNP are widely being used in various industries and have growing applications in the textile industry owing to their enriching fluorescence properties.

That apart, the growing applications of fluorescent copper nanoparticles (F-CuNP) are in the sensing of metal ions such as Pb2+, Hg2+, Fe3+, Cu2+,etc. This is supporting the growth of the overall copper nanoparticles 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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Future Market Insights (FMI) in a new study predicts the electroplating market to exhibit 3.6% Y-o-Y growth in 2021. Electroplating has become a vital application in a number of industries such as electronics, automotive, and machinery parts & components, due to its indispensable characteristics of corrosion resistance.

Rapid industrialization, coupled with high disposable income in developing countries, is fuelling the demand in the automotive, electronics, and jewelry industry, which in turn has been creating opportunities for electroplating applications.

According to the report, the global electroplating market is projected to rise at a CAGR of ~4.3% during the forecast period of 2021-2031, reaching a market value of ~US$ 25 Bn by 2031. While the growth projections for electroplating market continues to be strong during the forecast period, the ongoing COVID-19 pandemic crisis is anticipated to cause a minor strain in demand.

Closure of manufacturing units and supply chain networks due to shutdowns in a number of countries is expected to affect the consumption of Electroplating in key industries like electronics, automotive and aerospace & defense. However the market is expected to recover in year 2021.

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Among various industries exhibiting demand, the automotive and electrical and electronics segment will continue accounting for the lion’s share. Of these, the automotive segment is expected to maintain dominance, accounting for above 34% of electroplating sales through 2031.

Key Takeaways from Electroplating Market Study

• Electroplating market will continue exhibiting growth after a temporary period of lull in 2020. It is likely to exhibit 4.3% CAGR between 2021 and 2031
• US holds 81.6% of North America market in 2021 and outlook remains positive
• UK will register a growth of 2.8% Y-o-Y in 2021
• Germany and France will continue exhibiting steady growth
• JAPAN and Korea will continue to be a bright spot, yet China will hold dominance in East Asia

 “With small manufacturers eating into the market share, global players are looking into ways to improve margins by engaging in more B2C sales through collaboration with large scale end users”– says FMI analyst

Electroplating Market: Participant Insights                                              

Key global players in the Electroplating market, like Atotech Deutschland GMBH, Interplex Holdings Pte. Ltd, Kuntz Electroplating Inc., Pioneer Metal Finishing Inc., Roy Metal Finishing Inc., are focused on establishing partnerships with automotive OEMs, machinery equipment providers and electronic companies to form long term supply contracts. Manufacturers also are focusing on innovations to gain competitive advantage. For instance, Fischer has launched an innovative laser technology to improve plastic electroplating.

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Key Segments

Plating Metal

• Gold
• Silver
• Copper
• Nickel
• Chromium
• Zinc
• Others

Substrate

• Manually Operated Inhaler Devices
• Base Metal Plating
• Plastic Plating

Function

• Decorative
• Functional

End-Use

• Automotive
• Electrical & Electronics
• Aerospace & Defense
• Jewelry
• Machinery Parts & Components
• Others

To Know More about Electroplating Market:

A recent market study published by Future Market Insights (FMI) on the global Electroplating market report offers insights into the consumption scenario of Electroplating on both global and regional level. The report analyses the Electroplating market demand through three segments – plating metal, substrate, function, and end-use, across six regions.

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The Electroplating report also offers key insights into key growth drivers by end use, major competitors across application, manufacturer margins, and import/export scenario, along with COVID impact analysis on the market demand trend.

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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The automotive sensor demand will continue rising through 2021 with worldwide demand projected to increase by 5.5% year over year. As per Future Market Insights (FMI), automotive sensor revenues generation will increase at a ten-year compound annual growth rate (CAGR) of 7.2%, as the automotive production recovers after bucking scepticism about how the market would perform post pandemic.

NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH are identified as leading players in automotive sensor market. They will collectively account for nearly 30% of global market share in 2021.

Auto theft has emerged as a serious problem across the globe. According to a report by the National Insurance Crime Bureau, auto theft grew by 9.2% year-on-year in U.S. reaching 873,080 cases in 2020. To tackle this issue, automakers are installing modern anti-theft sensors in economic and budget cars. This development will fuel the demand for automotive sensors in upcoming years.

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Advancement in the field of transport management system and incorporation of smart sensors in advanced driver-assistance systems will create attractive prospects for the expansion of the market.

Truck platooning is an emerging area of application for automotive sensors. In truck platooning, automated driving support and connectivity technology work in sync and are controlled by central operating system. All trucks are connected to leader trucks and rest of platoon adapts their movement according to leader truck. This will increase ADAS penetration in trucks.

Governments in developed economies are mandating the installation of safety sensors in passenger and commercial vehicles to curb the rise in number of road accidents and related fatalities. This will significantly contribute to the overall growth of the automotive sensors market.

Manufacturers are working towards avoiding overheads by reducing the number of product recalls and satisfy consumer demand of modern warning alert system and safety feature in compact cars.

Advancement in the crash prevention technologies like vehicle-to-vehicle communication, traction control system, active kinematics control with integrated brake control, and automated braking system will boost demand for automotive sensor in upcoming years.

Key Takeaways from FMI’s Automotive Sensor Market Study

• Driven by increasing sales of electric vehicles and presence of leading original equipment manufacturers in U.S., North America market will expand at 4.7% CAGR over the forecast period.
• European automotive sensor market will grow at a healthy CAGR of 6.5% backed by increasing demand of European luxury cars across the globe and rising production of electric cars in the region.
• Japan and South Korea will collectively account for around 9.1% of global market share in 2021.  Surge in research and development activities in these countries towards miniaturization of automotive sensors will drive the market growth in these countries.
• India will offer lucrative opportunities for market growth, as it is the fastest growing economy in the world. Increasing demand for passenger cars and rise in consumer spending on enhanced safety features will boost the sales of automotive sensors in India.
• Safety sensor is the fastest growing sensor type segment owing to imposition of stringent vehicle and driver safety regulation and increasing demand for luxury and convenience in automobiles.

“Increasing investment in automating vehicles and installing smart technologies in critical safety systems to improve safety standards will boost the demand of automotive sensors in the forthcoming years,” says the FMI analyst.

For instance, in July 2021, Samsung launched its first ISOCELL image sensor specifically designed for automotive applications. Samsung aims at becoming global leader in image sensor sector  and capture maximum market share in upcoming years.

In 2020, AMS introduced two new position sensors the AMS AS5147U and the AS5247U for high-speed electric motors to promote car electrification initiative. These new position sensors are expected to reduce the system cost and boost the electrification of critical vehicle functions like as power steering, active damper control, and braking.

Bridgestone recently developed new “Smart Strain Sensor” technology for autonomous vehicles integrated with next-gen internet of things (IoT) capabilities.

Prominent players operating in the automotive sensor market are:-

• NXP Semiconductors N.V.
• TE Connectivity
• Continental AG
• Denso Corporation
• Robert Bosch GmbH.

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Key Segments Covered in Automotive sensors Market Study

Sensor Type:

• Position Sensors
  • Clutch Position Sensors
  • Gear Position Sensors
  • Throttle Position Sensors
  • Crankshaft Position Sensors
  • Steering Angle Position Sensors
  • Camshaft Position Sensors
• Safety Sensors
  • Seat Belt Sensors
  • Brake Switch Sensors
  • Door Switch Sensors
  • ADAS Sensors
    • Blind Spot Detection
    • Night Vision Sensors
    • Light Sensors
    • Parking Sensors
    • Cruise Control
  • Impact Sensors
  • Anti-theft Sensors
  • Knock Detection Sensors
• Level Sensors
  • Fuel Level Sensors
  • Coolant Level Sensors
  • Oil Level Sensors
• Oxygen Sensors
• Pressure Sensors
  • Tire Pressure Sensors
  • EGR Pressure Sensors
  • Airflow Rate Sensors
• Temperature Sensors
  • Engine Coolant Temperature Sensors
  • Rain/humidity Sensors
  • Oil/Fuel Temperature Sensors
  • Battery Temperature Sensors
  • Air Temperature Sensors
• Speed Sensors
  • Wheel Speed Sensors
  • Speedometer

Vehicle Type:

• Passenger Cars
  • Compact
  • Midsize
  • Luxury
  • SUVs
• Light Commercial Vehicles
• Heavy Commercial Vehicles

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Sales Channel:

• Original Equipment Manufacturers
• Original Equipment Supplier Spare Parts
• Independent Aftermarket

Region:

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

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About Future Market Insights (FMI) 

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

Contact:

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Suite 401, Newark, Delaware – 19713, USA
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