Aircraft Refurbishing Market Emerging Growth Analysis, Future Demand and Business Opportunities 2031

A recent market research report by Future Market Insights (FMI) offers critical insights on the growth of aircraft refurbishing market for the forecast period of 2021 and 2031. The global aircraft refurbishing market is estimated to grow at a healthy CAGR of over 5% through the next decade, as suggested by the report forecast.

According to the study, demand for refurbished aircrafts was set to grow at a higher pace as per earlier projections, however, the Black Swan event of COVID-19 has led to a massive decline in uptake.

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According to the report, the global aircraft refurbishing market is expected to witness noteworthy growth over the forecast period, primarily driven by the increasing demand for upgradation of domestic cabins, particularly in North America and Western Europe, which is attributed to the increasing number of existing narrow body aircrafts within these regions.

The growth of the aircraft refurbishing market will remain primarily driven by the increasing demand for new business seats, mainly in airline companies that provide the short haul services. FMI’s analysis highlights that the demand for aircraft refurbishment has remained influenced by the expansion of refurbishment industry across developing economies, such as Middle Eastern countries, India, China, and many of the other Soviet Union republics.

Technological Innovations Driving Opportunities for Aircraft Refurbishing

In-Flight Entertainment System (IFES) components are integrated and repackaged consumer electronics. Given the small lifespan of consumer electronics, aircraft refurbishing becomes a mandatory process so that they stay ahead of system obsolescence and in-sync with consumer expectations.

As these technologies get outdated very frequently, there are opportunities in designing, developing, manufacturing, and installing customized inflight entertainment and communications (IFEC) solutions to keep pace with new technological innovations. For instance, Android mobile operating system is gaining popularity as a next generation in-flight entertainment and connectivity (IFEC) platform.

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Demand for Aircraft Refurbishing Growing in the Middle East

Robust growth in the upper-middle income group has paved way for strong passenger numbers with maximum growth expected in the APAC and Middle East regions. It is anticipated that the Asia Pacific region will witness almost half of the world’s air traffic growth in the next 20 years.

The aircraft refurbishing market is likely to witness global migration from west to east owing to lower costs. Amongst the new airport development projects that are under construction around the world, APAC encompasses over half of them, which opens huge opportunities for the airport support industry in the region.

Premium economy seats offer a significant upgrade from the economy experience without the high price of a business class fare. The segment offers a wide range of benefits including more comfortable and spacious seats, priority check-in and baggage delivery at the airport, and quality meals with complimentary bar services. In 2016, American Airlines became the first US carrier to offer a premium economy cabin, and today, this trend of increasing preference for premium economy section is gaining coherence across the globe.

Aircraft cabins have undergone significant changes over the past few decades in terms of features, functions, and equipment. Airlines use passenger cabins as presentation of their brand image and gain patronage by providing competitive features, comforts, and ambience. Aircraft cabin illumination is one of the most important piece of equipment that creates the ambience passengers look for during their journey.

Key Segment

Based on the aircraft type

  • large body aircraft
  • wide body aircraft
  • narrow body aircraft

Based on the refurbishing type

  • VIP cabin refurbishing
  • commercial cabin refurbishing

Based on the fitting type

  • retrofit
  • IFEC and lighting
  • passenger seats

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Global Aircraft Refurbishing Market: Key Vendor Insights

Some of the prominent players in the global aircraft refurbishing market are United Technology Corporation, SIA Engineering Co Ltd, Hong Kong Aircraft Engineering Company Limited, Gulfstream Aerospace, Ltd, JAMCO America, Sabreliner Aviation LLC Diehl Stiftung & Co. KG, Lufthansa Technik AG, SCI Cabin Interiors, and Jet Aviation AG. Tier-1 players are collaborating with regional/local companies to increase their aircraft refurbishing product portfolio, thus, gaining a competitive edge over their peers.

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Automotive Engineering Services Market Challenges, Drivers, Outlook, Growth Opportunities – Analysis to 2032

Automotive engineering services incorporates servicing and diagnostic of electrical, mechanical, electronics, and software systems of a vehicle. Automotive engineering services provider develop, design, fabricate, & test component of a vehicle or the whole from the concept phase to use phase. It could either be outsourced by the manufacturers or done by themselves called in-house automotive engineering services.

During the forecast period, the global market for automotive engineering services is anticipated to grow at a moderate CAGR of 8.6%. The global market is expected to generate US$ 166.16 billion in sales in 2022 and US$ 348 billion by the end of 2032.

The demand for advanced and autonomous connectivity features is influencing innovation intensely for the automotive engineering services, in turn, changing the face of automotive industry. To be in line with the increasing demand for connectivity, vehicle manufacturers are developing and acquiring new expertise in vehicle software and electronic services, thereby, venturing into automotive engineering services field.

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In the global automotive engineering services market, telematics is considered to be the prominent growing trend owing to the expansion of vehicle testing, connected cars, and integration of AI (Artificial Intelligence), which has increased the demand for automotive engineering services. Smart infotainment, parking assist services, and vehicle diagnostic services enable more than partial control of a vehicle. Therefore, over the forecast period, the connectivity services is expected to gain significant traction in the global automotive engineering services market.

Also, day by day the number of tier-1 OEMs offering automotive engineering services is expanding. For instance, in 2018, Huawei Technologies Co., Ltd. and AUDI AG entered into a partnership to develop connectivity features for vehicles. In the first quarter of 2019, the Renault-Nissan-Mitsubishi coalition announced the launch of Alliance Intelligent Cloud that will offer connectivity services to the vehicles manufactured by MITSUBISHI MOTORS CORPORATION, Nissan Motor Corporation, and Groupe Renault. This, in turn, is stipulated to accentuate the need of automotive engineering services during the projected period.

Automotive Engineering Services: Regional Market Outlook

The swelling consumer demand for enhanced and reduced emission vehicle is expected to compel the vehicle manufacturers to redesign the exhaust powertrain system. Also, the vision of European countries to reduce the level of emission to three-fourth of the current situation is anticipated to boost the overall demand for electric powertrain. Henceforth, expanding the production of electric vehicles in the region, thereby, fueling the revenue share of automotive engineering services in Europe.

On the country level, Germany is the foundation of automotive industry and hub of the tier-1 players of automotive engineering services market, and the ongoing collaboration between engineering service providers and vehicle manufacturers is predicted to place the country on top, in terms of growth, in the global automotive engineering services market. Similar inclination towards adoption of technically enhanced products in Americas is stipulated have significant impact on the automotive engineering services market.

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Automotive Engineering Services: Market Key Players

Some of the major participants operating in the global automotive engineering services market include the following players:

  • FEV Group GmbH
  • IAV
  • Ricardo
  • AVL
  • ALTEN Group
  • Bertrandt
  • ALTRAN
  • L&T Technology Services Limited

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The Automotive Engineering Services regional analysis includes:

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

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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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Automotive Engineering Service Outsourcing Market Registering a CAGR of 20.5% During Forecast Period 2022 – 2032

According to a recently published study by ESOMAR-certified Future Market Insights, the global automotive engineering service outsourcing market is estimated to garner US$ 477.6 Billion while exhibiting a 20.5% CAGR during the forecast period ranging from 2022 to 2032.

The industry is expected to secure US$ 7.4 Billion in 2022. Technological advancements in the automotive sector and surging investments in R&D, and innovations in engineering services increase the demand for the market.

Leading automotive engineering service outsourcing manufacturers are increasingly focusing on introducing novel compact and advanced services which, in turn, is anticipated to foster market growth in the near future. Also, the complexity involved in the design of the transmission, powertrain, and engine, many manufacturers are focusing on designing these parts in their in-house facilities instead of outsourcing them from engineering service providers are some of the prominent factors anticipated to hinder the market’s growth during the forecast period.

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As per the analysis, the powertrain and aftermarket segment is anticipated to hold remunerative opportunities for the global automotive engineering service outsourcing market. Various developing countries are making significant developments in their budgets, thereby, offering lucrative opportunities to players in the market.

Key Takeaways from the Market Study

  • By application, powertrain and after-treatment to account for a 30.5% revenue share in 2022
  • Automotive prototyping service outsourcing to accumulate a revenue share worth 30%
  • North America to be the dominant market, expected to generate over 2/5th of global revenue in 2022
  • Europe to trail behind North America, expected to contribute 33% of the automotive engineering service outsourcing revenue
  • Asia Pacific to emerge as a significant market player, accounting for a tenth of the global market revenue
  • Global automotive engineering service outsourcing market to experience 64x growth until 2032

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Competitive Landscape

Key players in the global automotive engineering service outsourcing market include AKKA, Altair Engineering Inc., Alten Group, Altran (Capgemini Engineering), ARRK Product Development Group Ltd., ASAP Holding Gmbh, AVL List GmbH, Bertrandt AG, EDAG Group, ESG Elektroniksystem- und Logistik-GmbH, FEV Group GmbH, Horiba, LTD., IAV, ITK Engineering GmbH Kistler Group, P3 group GmbH, RLE INTERNATIONAL Group. Recent updates from the industry are:

  • In January 2021 – Bertrandt launched mobile ball impact testing device with a standardized design. It will enable customers to carry out independent testing of interior components in compliance with the regulations.
  • In June 2022 – FEV and ProLogium Technology, a leader in solid-state batteries, signed a MOU to cooperate in the development of solid-state battery systems.
  • In January 2022 – ALTEN SPAIN the subsidiary of the ALTEN Group, acquired Clevertask. Through this acquisition, ALTEN Spain will be able to explore renewed opportunities and capabilities for their teams and clients. Clevertask will continue to operate under the guidance of its founders and current management team while benefiting from the synergies, knowledge and corporate services of the ALTEN Group.

More Valuable Insights

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

The study reveals essential insights on the basis of Application (Autonomous Driving/ADAS, Body & Chassis, Powertrain, and After-treatment, Infotainment & Connectivity, Others) by Service (Designing, Prototyping, System Integration, Testing, Others) by Location (On-shore, Off-shore) and Region (North America, Latin America Europe, APAC, and Middle East & Africa,)

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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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Network Access Control (NAC) Market Growing at a CAGR of 27.5% During for 2022 – 2032

According to the network access control (NAC) market analysis by Future Market Insights (FMI), the adoption of network access control technology and solutions is estimated to grow with a CAGR of 27.5% from 2022-2032.

The report states that the market is expected to reach the valuation of ~US$ 27,409.4 Mn by the end of 2032. As per FMI, the proliferation of Bring Your Own Device (BYOD) trend across the enterprises is ultimately propelling the demand in recent years. Network access control solutions are designed to protect network, endpoints and enforces unified network security policy across the IT infrastructure.

With growing adoption of enterprise mobility management (EMM) and mobile device management (MDM), there has been rapid increase in the no. of endpoints accessing enterprise networks. Hence, the NAC systems protect the user-owned devices for network vulnerabilities and separate them from corporate-owned devices securely.

To defend their networks from this influx of unmanaged devices, organizations must keep existing network access control up to date or purchase network access control. Network access control solutions increase IoT device characterization, particularly in certain vertical markets.

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Key Takeaways

  • By component, the network access control appliances segment is anticipated to account for the leading share in the global demand for network access control during the forecast period. However, network access control software segment is estimated to grow at a robust CAGR of 29.9% through 2032.
  • Among the enterprise size, SMEs segment is estimated to grow by 28.8% CAGR during the forecast period.
  • By Industry, the IT and telecom segment is anticipated to increase at highest CAGR of 31.1% between 2022 & 2032.
  • North America region is dominating network access control market followed by Europe region in 2022. South Asia & Pacific is estimated as the fastest growing region during the forecast period.
  • The market in U.S. is expected to progress at a CAGR of around 25.0% through 2032.
  • In China, the network access control market is expected to grow by 10.8X during the forecast period.

Shortage of Skilled Security Professionals a Big Challenge

Organizations are finding it difficult to keep up with cybersecurity threats due to a significant scarcity of experienced professional security professionals.

To overcome these resource restrictions, businesses require stronger security tools and automated processes. While a business or major corporation may have the means to put up an expert security team, they will most likely be forced to execute a variety of other IT tasks. Many functions can be offloaded and their burden can be automated using next-generation network access control.

To offer critical tools for security monitoring, such efficient network access controls are being created. In order to serve large corporations and SMEs, NAC solution providers collaborate with managed security services providers (MSSPs), to broaden their capabilities.

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More Valuable Insights on Network Access Control (NAC) Market

Future Market Insight’s report on the network access control market research is segmented into four major sections – component (network access control appliances, network access control software (cloud-based and on-premises), services (professional service (professional services (consulting service, support & maintenance, and installation and deployment) and managed services)), enterprise size (small and mid-sized enterprises (SMEs) and large enterprises)), industry (IT & telecom, BFSI, healthcare, retail, manufacturing, government, education, and others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the network access control demand outlook.

About Electronics, Semiconductor and ICT Division at Future Market Insights

Expert analysis, strategic recommendations and actionable insights- the electronics, semiconductors, and ICT team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, & ICT, of which 100+ reports are specifically on solutions, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductors, and ICT industry.

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

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North America Toilet Seat Market is Projected to Surpass Valuation of US$ 1,445.1 Million by 2032

According to a recent report by Future Market Insights (FMI),North America toilet seat market is expected to surpass a valuation of US$ 1,445.1 Mn at a CAGR of over ~5.4% through 2032.

Growth in the market is underpinned by rising adoption of smart toilet seats as they are more hygienic and facilitate hyper convenience. This is expected to drive the sales of toilet seats in North America over the forecast period (2022-2032).

Smart toilet seats incorporate new technical features like heated surfaces, and bidet toilets operated with remote control technologies. These toilet seats are easy to install and also are highly rated in case of convenience and comfort, especially for feminine hygiene.

Few smart toilet seat concepts also incorporate some the additional features like LED lights, and many others. This feature of LED lights helps provide the users with optimal light intensity during dark nights for guidance. These LED lights are sensor-operated.

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Such developments of smart toilet seats that are a perfect blend of styles, designs, and technology are likely to facilitate future growth in the toilet seat market. As the preferences for smart premium toilet solutions is rising, the concept of the smart toilet seat is likely to successfully fuel market growth.

Key Takeaways from the North America Toilet Seat Market Study

  • Toilet seats that provide therapeutic benefits are also available in the market that is light-weight and portable.
  • Online sales are expected to register high growth as people have now shifted towards online buying amid the covid-19 outbreak.
  • In the case of material type, plastic toilet seats are highly popular in the market as they preferred by mass population and are also economic in terms of price range.
  • In terms of country analysis, the US is dominating markets together accounting for a market share more than 79% as the penetration and the adoption of products is high in the country.

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Who is winning?

 Major players present in the toilet seat market are Kohler Company, Bemis Manufacturing Company, Gensey Industries Inc, Roca Sanitario SA, Hamberger Sanitary, Villeroy and Boch Company, Aosman Sanitary Ware Company, Ltd, Huida Sanitary Ware Company Ltd., LIXIL Group Corporation, TOTO Ltd, and among others.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the North America toilet seat market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the North America toilet seat market based on the by-product type (standard toilet seat, smart toilet seat), shape type (round/u-shape, elongated), material type (plastic, stainless steel, aluminum, vinyl, abs, polypropylene, wood, and others), price range (below US$ 50, US$ 50- US$100, US$ 100 and above), end-use (residential and commercial), sales channel (wholesalers/distributors, multi-brand stores, specialty stores, hypermarkets/supermarkets, independent small stores, online retailers and other sales channel).

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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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Hand Sanitizer Market Growing at a CAGR of 7.14% During 2022 -2030

As per newly released data by Future Market Insights (FMI), the Hand Sanitizer Market is estimated at 1.62 USD billion in 2022 and is projected to reach 2.81 USD billion by 2030, at a CAGR of 6.59% from 2015 to 2030. Share of Hand Sanitizer market in its parent market (Health Care market) is approximately ~2.0%-5.0%

Attribute Details
Estimated Hand Sanitizer Market Size 2022 US$ 1.62 Bn
Projected Hand Sanitizer (2030) Market Size US$ 2.81 Bn
Value CAGR (2022-2030) 7.14%
Hand Sanitizer Market Top Players Share in 2021. ~10%-15%

Moreover, campaigns launched by governments and various companies spreading awareness about precautions to be taken amidst coronavirus outbreak has positively impacted the sales of hand sanitizers worldwide. Not only big but smaller players in hand sanitizers market have witnessed a high growth in sales since the outbreak of the virus.

Various government bodies across the globe have also provided licenses to new manufacturers, sugar, and distilleries industry for the production of hand sanitizer and also helping them to smoothen the supply chain process to meet the growing demand.

Except essential products and services, all businesses are temporarily under lockdown which is impacting the global economy. Online retailers also face various challenges in product delivery due to country lockdown, and low stock availability.

However, initiatives taken by various governments’ across the globe to create awareness among people and check the growth rate of people getting infected. This shows positive sign of regularity in coming quarter for few countries such as China, India etc.

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Key Takeaways from the Hand Sanitizer Market Study

  • North America is expected to dominate the global hand sanitizer market owing to rise in prevalence of COVID-19 disease among people in US and states. Moreover, the healthcare facilities are installing new hand hygiene technology and relying on it to change hand hygiene behaviour among staff and visitors, are the factors driving the hand sanitizer market in the region.
  • East Asia is expected to retain its dominance in the global hand sanitizer market, due to expanding government initiatives to promote the usage of hand hygiene products in order to reduce infections along with increase product availability at hospitals and other healthcare centres in the region.
  • According to the report, prominent players and new manufacturers have significantly increased their production capacity to ensure the continuous supplies of hand sanitizer across the globe due to the rise in demand for such products among households, hospitals, and other healthcare facilities.

Packaging, A Key To Brand Differentiation to Propel Hand Sanitizer Sales

People are likely to be more attracted to innovative packaging of hand sanitizers as compared to impact of key ingredient in the products. Thus, innovative packaging design, new product colour is expected to boost sales of the hand sanitizer worldwide. Unilever PLC, Henkel AG & Company, KGaA and other companies uses attractive packaging strategy to increase their sales of hand sanitizers.

In addition, with the increasing adoption of hand sanitizer among people manufacturers are now focused on selling premium hand sanitizer to expand their product portfolio and market share. The premium hand sanitizer with key ingredients and different functionality including moisturizing, germ killing, fragrances, and many more is significantly taking retail space across the globe. Moreover, people are now ready to spend on premium sanitizer due to their high concern for health.

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Who is winning?

Some of the key players operating in the hand sanitizer market are The Procter and Gamble Company, Gojo industry Inc., Reckitt Benckiser Group PLC, Best sanitizers Inc., The Himalaya Drug Company, Henkel Corporation, Unilever, Kutol Products Company, Linkwell Corporation, Vi-Jon Laboratories, Inc., Chattem Inc., Cossmic Products, Carroll Company, Seatex Ltd., and Guangzhou Beaver Cosmetic Co., Ltd.

Several leading hand sanitizer players are launching new innovative products with multiple features due to increasing consumer interest in chemical free products and significantly focuses on promotional activities to create awareness among people. At present, manufacturers are focusing on increase in production capacity to have a surplus inventory and cope up with growing market demand as well as increase product availability in the retail shelf space.

  • In March 2020, The Procter and Gamble Company has increased its production capacity and distribution of hand sanitizer in five manufacturing facilities around the globe. In the coming days, company’s production facility will expand to five additional location worldwide with the capacity of 45,000 litres per week.
  • In March 2020, Unilever entered into a strategic partnership with UK government and co-fund a US$ 61.1 Bn hand washing campaign to create awareness among people during the ongoing Covid-19 pandemic. Campaign to reach people through TV, Radio, Print, Social, and digital media Channel.

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Global Hand Sanitizer Market By Category

By Product Type, Global Hand Sanitizer Market is segmented as:

  • Foaming Hand Sanitizers
  • Foaming Instant Hand Sanitizer
  • Instant Hand Sanitizer Gel
  • Spray Hand Sanitizer

By End-Use, Global Hand Sanitizer Market is segmented as:

  • Institutional
  • Household

By Region, Global Hand Sanitizer Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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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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Anti-wrinkle Products Market is likely to Grow at a CAGR of 5.8% by the end of 2027

The market for anti-wrinkle goods is expected to develop in terms of revenue due to the increasing retail availability of a variety of anti-wrinkle products and a sharp increase in the number of brands offering varied anti-aging products. In 2021, the market for anti-wrinkle products is expected to be worth US$9.1 billion. Through 2027, the market is anticipated to increase at a CAGR of 5.8% and reach US$ 12.8 billion.

The personal care and cosmetics sector has been heavily influenced by the skincare market, which anti-aging products dominate. Increased personal investment in self-care, particularly in anti-aging goods, will support the global market for anti-wrinkle products.

The data shows that Asia Pacific (excluding Japan) still leads the world with a share of just under a third of the total market valuation. Investors in the anti-wrinkle product market are also positioning North America, Europe, and Japan as viable investment regions.

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The Visible Rise of Natural & Organic to Shape Market Performance

Holding more than half of the total market value, creams & moisturizers are foreseen to remain the dominant shareholder in anti-wrinkle products market on account of sustained consumer preference for cosmeceuticals based on creams and moisturizers, especially in developing regions.

  • Celebrity endorsements remains a major influencing factor here, according to the report.
  • Posing stiff competition to synthetic anti-wrinkle products, organic and naturally sourced anti-wrinkle products are gaining ground at a brisk pace, according to the report.
  • In addition, the reports points to steadily rising popularity of branded and premium quality anti-wrinkle products as an expanding consumer population is prioritizing quality over everything, before purchasing skincare products.
  • Clean-label anti-wrinkle products continues to constitute a notable trend that holds a strong impact on the purchasing decision of consumers.

Breakthrough Anti-wrinkle Treatment May Hold a Long-term Impact on Anti-wrinkle Products Sales

With an objective to overcome the complexities associated with Botox and a heap of fillers, a breakthrough treatment – Profhilo is launched recently, this year. The treatment is being claimed to rehydrate, moisturize, and retexture aging skin. Emergence of such innovations, following the already popular high-end anti-wrinkle treatments such as Botox and fillers, is likely to hold a considerable impact on the sales of anti-wrinkle products.

“While this could be the situation specifically for a premium consumer segment, it would not be an overstatement to expect its considerable influence on anti-wrinkle products market growth in the long run,” says a senior analyst at FMI.

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The report covers extensive profiles of some of the prominent players active in global anti-wrinkle products marketplace, including Allergan PLC; Avon Products Inc., L’Oréal S.A., Unilever, Revlon, Inc., Oriflame Cosmetics AG, Lotus Herbals Limited, Procter & Gamble Co., Nature Republic, and a few others.

Some of the prominent brands leading regional markets, such as Sisley Paris, are maintaining the R&D focus on existing portfolio expansion.  Sisley’s recently launched concentrated anti-wrinkle serum adds value to the company’s previous offerings and is claimed to more efficiently address the typical aging signs that are resultant of multiple environmental, genetic, and behavioral factors. The new launch reportedly includes plant-based ingredients that help optimization of the lifecycle of human skin cells.

A large number of anti-wrinkle products manufacturers are also investing efforts in R&D of innovative, multifunctional formulations that could effectively address multiple aging signs besides wrinkles, simultaneously. Targeting untapped opportunities in retail and organized sales channels, established companies in anti-wrinkle products market are focusing on enhancing the space on retail shelves and strengthening sales network. Market participants in developing economies are more likely to implement aggressive pricing strategies to remain a step ahead of competitors.

Anti-Wrinkle Products Market Key Segment

On the basis of product type

    • creams & moisturizers
    • cleansers
    • other products

By On the basis of nature

    • natural/herbal
    • synthetic
    • organic

By On the basis of end-user

    • men
    • women

By On the basis of sales channel

    • pharmacies
    • specialty outlets
    • supermarkets/hypermarkets
    • convenience stores
    • beauty stores
    • e-retailers
    • others

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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 Us:        
Future Market Insights
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Jumeirah Bay 2
Plot No: JLT-PH2-X2A
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Dubai
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Cloud ERP Market Anticipated to have Significant CAGR of 16% During the Period of 2022-2032

The global cloud ERP market is expected to reach a valuation of US$ 277 Mn by 2032 from US$ 63 Mn in 2022, rising rapidly at a CAGR of 16% throughout the forecast period.

The growing desire among businesses to improve operational efficiency and optimize business operations, the impact of the COVID-19 pandemic, and the increasing use of cloud-based solutions are all driving the expansion of the cloud ERP sector.

According to the global cloud ERP market study, businesses all over the world are concentrating on optimizing their business processes in order to increase operational efficiency while keeping track of running costs.

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Businesses are looking for a centralized solution to manage a variety of business activities, including finance and accounting, sales and marketing, procurement, and supply chain management.

Cloud ERP gives businesses the flexibility and scalability they need to optimize their processes and increase efficiency.

Cloud ERP guarantees speedy delivery of precise financial records, effective fiscal effectiveness, rapid data-driven judgments, enhanced product and stock limits, streamlined applications, components, and network equipment, easy adoption of common standards across plants and business units, rapid integration of acquired innovations, and more consistent operating performance, thus positively impacting the cloud ERP market adoption trends.

Although cloud-based solutions give businesses more flexibility and scale, they often limit customized choices. The core product set of SaaS-based platforms now includes customizations.

Enterprises that require substantial customization, especially with respect to major functions, may find it challenging to do so with a SaaS-based ERP system. The majority of cloud ERP suppliers offer apps such as human capital management or CRM; however, just a few vendors offer a single suite of solutions that meets most user needs. These restrictions are limiting cloud ERP adoption and limiting the cloud ERP market growth.

Organizations have gradually begun to integrate cloud ERP solutions and services. However, organizations still face considerable hurdles in integrating these solutions with their existing systems due to system complexities and implementation costs. Existing legacy systems must be tightly connected with new ones in order for cloud ERP to be implemented successfully.

Due to a lack of resources, a few firms continue to rely on their present systems, which are based on outdated technology and include manual processes, which result in a high rate of mistakes and a long turnaround time. Furthermore, there may be a number of legacy programs that are incompatible with new systems or require additional integration effort.
Furthermore, because current legacy systems are primarily on-premises, integrating them with new cloud-based systems could be a barrier to digital process automation solutions and services adoption.

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Key Takeaways

  • Financial data is gathered, and reports, such as ledgers, trial balance data, overall balance sheets, and quarterly financial statements are generated using the cloud ERP. During the projected period, the finance and accounting solution segment is expected to increase at the quickest rate.
  • The BFSI sector is expected to see significant growth in the overall cloud ERP market since these solutions are primarily employed to improve customer experience. Meanwhile, with features such as live operational tracking, secure transactions, and assessment and investigation, it is also being utilized to manage sensitive and critical data of consumers.
  • The North American region of the global cloud ERP market is projected to advance at a CAGR of 16% throughout the forecast period.
  • During the projected timeline, the large enterprise sector is projected to have the largest cloud ERP market share. It is expected to register a growth rate of 16.5% throughout the forecast period.
  • A progressive trend away from brick and mortar retail and on-premise work toward working from home has created an underlying need for cloud ERP solutions across a wide range of sectors.

Competitive Landscape

leading participants in the cloud ERP market.

  • SAP
  • Oracle
  • Acumatica
  • IFS
  • Global Shop Solutions
  • Infor
  • Microsoft
  • IQMS
  • OpenPro

By Region:

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

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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 Us:        
Future Market Insights
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Plot No: JLT-PH2-X2A
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Coal Tar Pitch Market Witness a Considerable CAGR of 5.4% during the Forecast Period of 2022 and 2028

Tier-1 companies in coal tar manufacturing represent 60-70% share of the total market revenue. With massive coal tar distillation capacities across the globe, these players in coal tar pitch landscape maintain their focus on both, standard grade and special grade coal tar pitch (CTP) production.

Tier 2 players have a strong presence over restricted regions, whereas that of Tier 3 competitors is limited to regional sales. Standard grade coal tar pitch is the key focus area for the latter two, according to Future Market Insight’s study on the global coal tar pitch landscape.

“Production facility expansion, strategic acquisitions, and CTP product innovation will remain the key developmental strategies trending among leading players,” says a senior research analyst at FMI.

The analyst adds further, “Massive Aluminum demand from automotive and transportation sectors has been pushing the Aluminum production levels 4-5% (yearly) since the recent past. Growing demand for lightweight vehicles is among the most impactful factors driving the consumption of Aluminum, subsequently contributing to sales of coal tar pitch”.

Long-term Contractual Partnerships & Backward Integrated Supply Rule Strategic Minds of Coal Tar Pitch Manufacturers

While manufacturers of coal tar pitch are preferring long-term supply contracts with leading coal tar manufacturers, FMI has also identified these players entering strategic partnerships with steel manufacturers, where coal tar is often the byproduct of coke processing ovens.

A few other activities that make this landscape dynamic include long-term contracts between manufacturers of coal tar pitch and those of primary aluminum and graphite electrode, with a sole objective to sustain the coal tar pitch supply to end markets.

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Aluminum Grade CTP Holds a Winning Revenue Share in Coal Tar Pitch Market

Application-wise, around 80% revenue share belongs to the aluminum electrode, according to the study. As coal tar pitch is increasingly being consumed by aluminum smelters lowing to higher sustainability and economic feasibility, the mushrooming Aluminum production is constantly driving the growth of coal tar pitch landscape.

In 2019, the revenue of Aluminum grade coal tar pitch is pegged for over 5% Y-o-Y growth. Besides, Graphite electrode is also slated for promising performance and the application base of coal tar pitch as a chemical intermediate in carbon black manufacturing is visibly growing.

Development of Specialized ‘Zero QI Impregnating’ Coal Tar Pitch Expands Applicability

A specialized ‘impregnating’ pitch obtained by processing coal tar at a high temperature is widely used in the Graphite industry during the electrode manufacturing process. The resultant technological advancements in the life of electrodes pushes CTP applications in roofing, coating, electrode, refractory, and others.

China Commands over Global Coal Tar Pitch Landscape, India Leads Asia Pacific’s CTP Scenario

China, India, Russia, and Western Europe have a significant aluminum production base, whereas MEA is demonstrating promising growth in coal tar pitch landscape in recent years. North America, however, is observing passive growth over the recent past, post decline in the aluminum production levels.

According to the FMI’s report, China is the global leader in coal tar pitch ecosystem owing to significant Aluminum production and thriving production levels of Graphite electrode. China is projected for a 6% year on year revenue growth by this year’s end, reflecting ample growth opportunities for coal tar pitch manufacturers.

On the other side, APAC’s market for coal tar pitch is witnessing growth concentration in India that has been attributed to an impressive rate of Aluminum production in the country.

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Coal Tar Pitch Market Market by Category

By Form:

  • Solid
  • Liquid

By Grade:

  • Aluminum Grade
  • Graphite Grade
  • Special Grade

By Application:

  • Aluminum Electrode
  • Graphite Electrode
  • Roofing Coating Material
  • Blast Furnance Linings
  • Chemical Intermediates
  • Sealents

By Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • APEC (Asia Pacific Excluding China)
  • China
  • Middle East & Africa

Competitive Landscape

Over the past few years, manufacturers are shifting their focus towards emerging regions to cater the growing demand from the application segments. Several key players are also focusing on expanding their production capacities, product launches, R & D and are also focusing on mergers & acquisition.

For Instance,

In 2017, Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc., announced its new long-term coal tar supply agreement with leading steelmaker ArcelorMittal.

In 2018, Himadri Specialty Chemicals Ltd announced its plan to expand its production facility at Singur in West Bengal by making a planned investment of Rs 1,000 crore over the next five years.

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.

Contact Us

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
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Sodium Bicarbonate Market is Forecasted to Exhibit a Growth Rate of 3.9% CAGR through 2031

A recent surge in demand for sodium bicarbonate is driven by the rising demand from several end-use industries, most importantly processed food, and pharmaceuticals. Also, requirements in flue gas desulfurization, leather, dyes, and detergents will contribute to growth, finds Future Market Insights (FMI) in a new study. According to the report, the market is forecasted to exhibit a 3.9% CAGR through 2031.

Globally, the sodium bicarbonate market is driven by demand from processed food and pharmaceutical production sectors. Food grade and technical grade offerings are expected to hold major market share owing to extensive scope of use in several the end use sectors. Together, these grades of sodium bicarbonate are estimated to account for more than two thirds of the volume share.

Sodium bicarbonate is a crystalline powder that has a color range from white to light brown. It is manufactured in different forms including liquid, powder, and slurry. There are different grades of sodium bicarbonate available for pharmaceutical, food, feed, and technical applications.

Some of the leading applications include food and beverages, pharmaceuticals, personal care products, chemicals, agrochemicals, fire extinguishers, dyes, and water treatment. Also, the non-toxic nature of the material has been a crucial factor for growth in the global market.

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Key Takeaways from Sodium Bicarbonate Market Study

  • Driven by rising demand in food and beverage applications, the sodium bicarbonate is projected to surpass a valuation of US$ 2.3 Bn by 2031.
  • Pharmaceutical based sodium bicarbonate is expected to witness positive growth owing applications in API, excipients, and in hemodialysis solutions.
  • China is one of the fastest growing regional markets owing to the strong presence of end use industries and low raw material costs.
  • Powdered sodium bicarbonate is projected to hold a greater market owing to superior user convenience.
  • Germany’s contribution towards the European market will continue rising, trailed by France and the U.K.

“End-use industries are focusing on the procurement of high-quality and cost-efficient sodium bicarbonate to improve product performance and profit margins, which will play key roles in market developments through the end of the assessment period in 2031” said a lead analyst at FMI.

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Sodium Bicarbonate Market by Category

By Grade Type

  • Pharmaceutical Grade
  • Technical Grade
  • Food Grade
  • Feed Grade

By Form

  • Powder
  • Pellets
  • Slurry
  • Liquid

By End Use

  • Processed Food
  • Pharmaceuticals
  • Personal Care Products
  • Chemicals
  • Agrochemicals & Nutrients
  • Detergent
  • Fire Extinguisher
  • Leather & Dyeing
  • Others

Region

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

Sodium Bicarbonate Market: Participant Insights                                  

Market leaders in the moderately fragmented sodium bicarbonate market are largely focused on strategic expansions, providing high quality products, strengthening their product portfolios and developing stronger distribution partnerships.

Key manufacturers in the Sodium Bicarbonate market, include but are not limited to Solvay SA, Merck KGaA, Nirma ltd., Tata Chemicals Ltd., GHCL ltd, Ciech SA, DCW ltd., Seqens group, Tosoh Corporation, Hawkins, Inc., Vitro and Church & Dwight Co., Inc.

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.

Contact Us

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
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For Sales Enquiries: sales@futuremarketinsights.com