Market Research Blog – Page 1191 – New Product Development

Catering Management Market Insights, Deep Analysis of Key Vendor in the Industry 2022 to 2032

The catering management market is poised for substantial growth, with a projected CAGR of 4.3% expected during the forecast period spanning from 2022 to 2032. This robust expansion is anticipated to propel the market to reach a remarkable valuation of US$ 159.3 billion by the year 2032

This surge in demand and market value can be attributed to various factors, including a growing trend in outsourcing catering services by businesses and individuals, increasing consumer preference for customized and diverse menu options, and the rising popularity of catering management services for various events and occasions. As the industry continues to evolve and adapt to changing consumer needs and preferences, it is clear that the catering management market is on a trajectory of sustained growth and significant economic impact in the coming years.

In addition, the catering management market adoption trends are propelled by the innovative food service catering developed by hotels and restaurants, and the same is also expected to drive the catering management market.

Individuals between the ages of 18 and 35 prefer to eat out due to their hectic lifestyles, thereby boosting the catering management market trends and forecasts. The higher adoption of catering services can also be attributed to the cost per person decreasing as a result of bulk transportation of food items, which is also a major driving factor for catering management at events.

Catering services also contribute to the provision of sanitary and nutritious food to a variety, including colleges, offices, institutions, schools, and airplanes.

During the forecast period, all of these factors contribute to the growth of the catering management market. The catering management market is segmented by service type, application, and region. During the forecast period, the North American market is expected to have the highest catering management market share.

Key Takeaways from the Catering Management Market Report:
The Catering Management Market is poised for substantial growth, with the corporate segment anticipated to spearhead at a 2.9% CAGR through 2032. Contractual catering services are projected to dominate, driven by evolving workforce dynamics and diverse culinary preferences. North America is expected to lead in market expansion, closely followed by Asia Pacific, particularly fueled by demand in airports and commercial sectors. However, Latin America the Middle East, and Africa may experience slower progression during the forecast period.

Competitive Landscape:
The market players are coming up with various strategies to consolidate their market position and also play a major role in bringing about emerging trends in the catering management market.

Leading Key Players:
Compass Group Plc., Dine Contract Catering, Sodexo, Elior Group, Delaware North, Aramark Corporation, Westbury Street Holdings, Thompson Hospitality, Olive Catering Services, Ovations Food Services, Dine Contract Catering Ltd.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Native Video Advertising Market is Expected to be Valued at US$ 38.4 Billion by 2032 | Future Market Insights, Inc.

The native video advertising market size accounts for about US$ 4.1 billion in 2022 and is anticipated to garner a revenue of US$ 38.4 billion by 2032, moving forward with a CAGR of 25.2% during the forecast period (2022-2032).

Social media platforms such as Facebook, Twitter, and Tumblr were among the first to adopt and market native advertising. Native video advertising has become one of these companies’ primary sources of revenue in recent years, expanding their native video advertising market share.

Native video advertising market opportunities are fostered by money as the same has also enticed many international publishing houses to launch new advertising platforms on their mobile and desktop websites. The fact that native ads are less disruptive/intrusive than banner ads is one of the major factors driving the global native advertising market growth.

Native advertisements also fit in better on mobile devices and owing to the popularity of mobile internet, this factor expands native video advertising market size and provides a conducive environment for marketers and global brands looking to expand their consumer base.

With native video advertising market trends fostered by the growing number of smartphone users worldwide, the reach of native video advertisements likely spikes, as will the number of companies willing to advertise through this medium. The same is also likely to open up numerous native video advertising market key trends & opportunities.

The Federal Trade Commission has established some rules and regulations regarding the way native advertisements are labelled, as “sponsored” or “promoted,” which can be confusing to the layperson. This has prompted brands to use more specific terminology, such as “sponsored advertising content” or “advertisement,” separating native advertisements from the natural flow of content.

This factor may undermine the goal of making native video advertisements appear natural content and is expected to hamper the adoption of native video advertising to some extent. The native video advertising market is segmented by solution, by end-user, by vertical, and by region.

Key Takeaways:

The US is projected to account for a major native video advertising market share with a CAGR of 21.4%.
By 2032, the Germany native video advertising market is expected to hold 26.8% of the market share, advancing at a CAGR of 19.1%.
With a CAGR of 25.6% during the forecast period, India native video advertising market size accounts for 30.7% of the global market.
China native video advertising market is likely to move forward with a CAGR of 27.8% from 2022 to 2032.
From 2022 to 2032, native video advertising market in Japan is anticipated to advance at a CAGR of 18.1%.

Competitive Landscape:

Some of the leading native video advertising companies include Cardlytics, Eskimi, Outbrain, Taboola, Yahoo, Nativo, TripleLife, RevContent, MGID.

To maintain their lead in this highly competitive market, key companies are increasingly focusing on adoption strategies such as expanding their native advertising services, collaboration with network operators, and acquisition.

Key Segments

By Solution:

Native Ad Platform
Native Ad Services
Native Advertisement Consulting
Implementation & Integration
Support and Maintenance

By End User:

Ad Agencies
Brands/Companies
Publishers

By Vertical:

Retail & CPG
Healthcare
Banking, Financial Service & Insurance
Real Estate
Travel & Hospitality
Others

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Cloud Workload Protection Market Surges: Revenues to Skyrocket to US$ 25.9 Billion by 2032

The market for cloud workload protection is expanding exponentially, with projected sales of an amazing $2,918.0 million in 2021. According to the most recent study, this market is expected to develop at an astounding compound annual growth rate (CAGR) of 22.1% between 2022 and 2032, reaching a whopping $25,868.9 million by that time.

According to Future Market Insights, the market for cloud workload protection will develop over the next several years due to a rise in demand for centralised data protection of cloud solutions as well as an increase in demand for safe and secure data.

In addition, it is anticipated that the market for cloud workload protection would be driven by the increasing use of multi-cloud strategies for performance enhancements and the need for programmed functions, which will provide cloud workload protection platform suppliers appealing growth opportunities.

Moreover, large enterprises are adopting cloud workload protection platforms and services on a larger scale to keep up with the compliance requirements while ensuring data security. Automation for data backup, prevention of data loss with reduced security concerns are some key benefits offered by cloud protection platforms fueling the adoption in SMEs.

Key Takeaways: Cloud Workload Protection Market

By solution, the cloud workload protection platform segment is anticipated to account for the leading share in the global demand for cloud workload protection during the forecast period.
The services segment is estimated to grow at a robust CAGR of 19.7% through 2032.
Among the enterprise size, SMEs segment is estimated to grow by 8.5X during the forecast period.
By industry, the IT & telecom segment is anticipated to increase at a CAGR of 25.5% between 2022 & 2032.
North America region is dominating cloud workload protection market followed by Europe region in 2022.
South Asia & Pacific is estimated as the fastest growing region during the forecast period.
The cloud workload protection market in U.S. is expected to progress at a CAGR of around 18.0% through 2032.
In India, the cloud workload protection market is expected to grow by 13.18X during the forecast period.
Cloud workload protection market in China is estimated to witness the absolute opportunity of US$ 1,871.7 Million in the forecast period.

Drivers and Opportunities:

This meteoric rise can be attributed to several key factors. Firstly, a substantial shift in organizational priorities has fueled the adoption of cloud workload protection solutions, highlighting the growing importance of cybersecurity in an increasingly digital world.

Additionally, the adoption of multi-cloud infrastructure solutions has surged, necessitating robust cloud workload protection to safeguard critical data and assets across various platforms. Workload protection systems have proven instrumental in seamlessly integrating security into an organization’s devOps operations, reducing complications, and enhancing overall efficiency.

During the challenging COVID-19 crisis, industries such as banking and manufacturing have spearheaded the expansion of the Cloud Workload Protection Platform (CWPP) industry. Vendors have responded by intensifying efforts to integrate bare metal hypervisors, offering enhanced visibility and improved virtual machine management to users.

However, it’s worth noting a significant challenge within the landscape – the relatively scant documentation and understanding of Linux threats concerning cloud workload security. This knowledge gap necessitates heightened efforts within the industry to integrate diverse security mechanisms, with a focus on research and development activities. Developers and engineers are now actively participating in security procedures, automating processes with lightweight agents that prioritize cloud infrastructure and application performance.

Competitive Landscape – Regional Trends:

In this fiercely competitive landscape, businesses are striving to benchmark themselves against industry peers, aiming to stay ahead in the Cloud Workload Protection Market. Regional trends indicate that the market’s growth is not limited to specific geographical regions, emphasizing its global appeal.

Restraints:

Nevertheless, amid this remarkable growth, certain limitations and restraints must be acknowledged. These include the imperative need for industry players to grapple with the ever-evolving nature of cybersecurity threats and the continuous development of sophisticated attack vectors. As the market expands, keeping pace with these challenges remains paramount.

Region-wise Insights – Category-wise Insights:

Region-wise, the Cloud Workload Protection Market is poised for substantial growth across the globe, offering opportunities for businesses to tap into different markets. Category-wise insights reveal the diverse applications and solutions within this dynamic market, catering to a wide array of cybersecurity needs.

Cloud Workload Protection Market by Category

By Solution:

Cloud Workload Protection Platform
- Cloud-based
- On-Premises
Services
- Professional Service
  - - Consulting Services
    - Support and Maintenance
    - Training and Education
- Managed Services

By Enterprise Size:

Small and Mid-Sized Enterprises (SMEs)
Large Enterprises

By Industry:

BFSI
Government
IT & Telecom
Retail
Manufacturing
Media & Entertainment
Healthcare
Others

By Region:

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

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5G Chipset Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2022-2032

The global 5G Chipset Market is slated to witness an unprecedented surge, with a projected annual growth rate of 25.5% Year-on-Year (Y-o-Y), reaching a staggering valuation of US$180.0 billion by 2032. This astronomical growth is substantiated by several key factors.

The escalating demand for cellular Internet of Things (IoT) connectivity, coupled with an increasing need for high-speed internet and expansive network coverage, acts as a significant driving force behind this surge. The proliferation of mobile data traffic and the burgeoning requirement for smart technologies further propel this upward trajectory.

Currently, the network capacity is incapable of handling M2M and human-based communications, as well as their different communication patterns such as latency time. For this reason, a next-level cellular network for mobile communication, featuring hyper-connectivity and larger bandwidth, is required (e.g., 5G network).

M2M communication technology will be widely used in heavy manufacturing industries and process industries (e.g., food industries) to increase the efficiency of different processes and reduce human interference with machines. M2M communication is thus expected to drive the 5G chipset market.

Key Takeaways from the Market Study

Global 5G chipset market worth to experience over 8x growth until 2032
By frequency, sales of sub-6 GHz 5G chipsets to accelerate at a 23.2% value CAGR
Asia Pacific to be the most opportunistic region for market growth, registering a CAGR of 25.5%
U.S to emerge as the dominant market, yielding US$ 69 Billion in value by 2032
China to be the most lucrative market in APAC, documenting a 24.6% CAGR
Japan & South Korea to yield dollar opportunities worth US$ 10 Billion and US$ 7 Billion respectively

Competitive Landscape

Players in the global 5G Chipset Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In September 2020, Qualcomm launched a new 5G mobile platform in the 7-series, the Snapdragon 750G 5G Mobile Platform, which enables 5G with brilliant HDR gaming and on-device AI.
In June 2020, Nokia announced a collaboration with Broadcom for the custom system-on-chip solutions for the vendor’s ReefShark-powered portfolio
In June 2021, Samsung Electronics unveiled a new range of new chipsets that will be embedded into the company’s next generation 5G solutions. The new 3GPP Rel.16 compliant chipsets consist of a third generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, a second generation 5G modem System-on-Chip (SoC) and a Digital Front End (DFE)-RFIC integrated chip.

Know More About What the 5G Chipset Market Repost Covers

Future Market Insights offers an unbiased analysis of the global 5G chipset market, providing historical data for 2015-2021 and forecast statistics from 2022-2032.

Key Segments Covered In The 5G Chipset Market Report

5G Chipset Market by Type:

5G Chipset Modem
5G Chipset RFIC

5G Chipset Market by Process Node:

5G Chipsets less than 10 nm
5G Chipsets between 10-28 nm
5G Chipsets above 28 nm

5G Chipset Market by Frequency:

Sub-6 GHz 5G Chipset
24-39 GHz 5G Chipset
Above 39 GHz 5G Chipset

5G Chipset Market by Application:

5G Chipset for Telecommunications
5G Chipset for Mobile Devices
5G Chipset for Non-Mobile Devices
5G Chipset for Automobiles

5G Chipset Market by Region:

North America 5G Chipset Market
Latin America 5G Chipset Market
Europe 5G Chipset Market
Asia Pacific 5G Chipset Market
Middle East and Africa 5G Chipset Market

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Global Employee Engagement Market to reach a valuation of US$ 3,603.9 Million by 2034, FMI Projection

The global employee engagement market is anticipated to reach a valuation of US$ 803.0 Million in 2024, driven by corporate social responsibility initiatives. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 16.2% between 2024 and 2034, and reaching a total valuation of approximately US$ 3,603.9 Million by 2034.

Employee engagement efforts are increasingly aligned with corporate social responsibility initiatives. Employees are more likely to feel engaged and fulfilled when they perceive their organization as socially responsible and contributing positively to society and the environment.

Voice of the employee programs involve soliciting feedback and insights directly from employees to understand their needs, preferences, and concerns. Organizations are leveraging employee surveys, focus groups, and sentiment analysis tools to gather actionable data and improve the employee experience.

Companies are investing in technology enabled onboarding processes to help new employees feel welcomed, connected, and productive from day one, with the rise of remote work. Virtual orientation sessions, online training modules, and mentorship programs are key components of remote onboarding initiatives.

AI driven technologies are being integrated into employee engagement platforms to automate repetitive tasks, personalize interactions, and deliver targeted recommendations. Chatbots, virtual assistants, and predictive analytics are examples of AI powered tools that enhance employee experiences and streamline HR processes.

Continuous learning and skill development opportunities are integral to employee engagement and retention. Organizations are offering online courses, professional development workshops, and certification programs to empower employees to acquire new skills and stay competitive in their respective fields.

Employee voice platforms enable employees to share feedback, ideas, and concerns in a transparent and accessible manner. The platforms facilitate two way communication between employees and management, fostering trust, accountability, and a culture of open dialogue.

Agile methodologies and principles are being embraced by organizations to foster adaptability, innovation, and collaboration. Employee engagement efforts are aligned with agile practices, emphasizing autonomy, cross functional teams, and iterative approaches to problem solving and decision making.

Key Takeaways from the Market Study

Global employee engagement market was valued at US$ 695.4 Million in 2023.
From 2019 to 2023, the market demand expanded at a CAGR of 15.4%.
The market in Japan is expected to expand at a CAGR of 17.4% through 2034.
By solution, the integrated employee engagement software segment to account for a share of 53.5% in 2024.
The market in Germany is expected to expand at a CAGR of 15.7% through 2034.
In terms of deployment, the cloud based segment to account for a market share of 48.0% in 2024.

Companies are focusing on designing holistic employee experiences that encompass all touchpoints of the employee journey, from recruitment to offboarding, which includes creating seamless, intuitive interfaces for HR systems, streamlining administrative processes, and providing personalized support to employees, remarks an FMI analyst.

Competitive Landscape

Prominent players in the employee engagement market are Cisco Systems, IBM Corporation, Microsoft Corporation, Google, Bitrix24, Atlassian Corporation Plc, Xoxoday, Connecteam, Officevibe (GSoft Group Inc.), ContactMonkey Inc., Lattice, Peakon, BambooHR, Impraise, and LumApps SAS, among others.

Key Development

In 2022, Vantage Circle unveiled a partnership with a leading team collaboration software provider to enrich its employee engagement offerings. The collaborative effort aims to deliver a comprehensive platform for employee communication and collaboration, combining the strengths of both companies to provide an integrated solution for enhanced engagement and productivity.

Segmentation Analysis of the Employee Engagement Market

By Solution:

Software
- Integrated Employee Engagement Platform
- Standalone Software
  - Unified Communications Software
  - Enterprise Social Intranet Software
  - Employee Recognition and Reward Software
  - Employee Performance Management Software
  - Others
Services
- Professional Services
  - Consulting Services
  - Integration and Implementation
  - Support and Maintenance
  - Training and Development

Managed Services

By Deployment:

Cloud Based
On Premises

By Enterprise Size:

Small and Mid Sized Enterprises
Large Enterprises

By Industry:

IT and Telecom
BFSI
Retail
Healthcare
Government
Manufacturing
Others

Region:

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

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global employee engagement market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the employee engagement market, the market is segmented on the basis of solution (software, services, managed services), deployment (cloud based, on premises), enterprise size (small and mid sized enterprises, large enterprises), and industry (IT and telecom, BFSI, retail, healthcare, government, manufacturing, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

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

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Visitor Identification Software Market Insights, Deep Analysis of Key Vendor in the Industry 2022 to 2032

The visitor identification software market is expected to escalate at a CAGR of 14.0%, from USD 3.5 billion in 2022 to US$ 13 billion by 2032.

The visitor identification software helps organizations maintain visitor data as they focus on managing visitors to their web pages. Proper management of visitor data permits enterprises to make informed decisions on how to approach customers so that they can become potential customers and, thereby, maximize revenue.

Based on the pricing model, the fixed pricing segment is predicted to grow at the fastest rate during the forecast period. The consumer durables & electronics segment has dominated the visitor identification software market over the past few years and is expected to dominate over the forecast period.

Web development is no longer a one-time activity for organizations. Based on the huge amount of data gathered by this software, organizations can make their websites better over time.

Using web analytics tools effectively helps companies choose the right analytics vendor, which ultimately reduces costs and increases revenue, consequently strengthening the design of the sites and making them more accessible.

Key Takeaways from the Visitor Identification Software Market Report:
The visitor identification software market is projected to witness substantial growth across various regions and organizational sizes. In the large enterprise segment, a (CAGR) of 13.5% is anticipated. Fixed pricing, as a pricing model method, is also expected to experience a 13.5% CAGR until 2032. Notably, the United States is forecasted to lead the market with an estimated value of US$ 4.6 billion and a CAGR of 13.8%. Meanwhile, the United Kingdom, China, Japan, and South Korea are poised for significant growth, with their respective markets reaching US$ 539.6 million (CAGR: 12.9%), US$ 910.9 million (CAGR: 13.4%), US$ 742.6 million (CAGR: 12.4%), and US$ 429.3 million (CAGR: 11.5%) by 2032.

Competitive Landscape:
The visitor identification software market in the United States is expected to reach a revenue of US$ 2235.76 Mn by 2027 due to a growing need among enterprises to maximize their revenue by offering customized solutions, managing web traffic, and increasing visitor numbers.

The mobile app segment is likely to grow more rapidly than the web-based segment based on the platform. Increasingly, businesses and residential facilities are turning to mobile app-based visitor identification software solutions to enhance security and digitize processes in building operations.

Mobile apps that provide visitor identification software market provide easy access to information about invites, visitors, personal sign-in, and more. The app allows users to avoid queues with fast QR code sign-in, view visitor details, manage employee details, and receive arrival notifications.

Leading Key Players:
Among the companies operating in the visitor identification software market are Act-On Software, Inc., Zoho Corporation Pvt Ltd, KickFire, Clearbit, netFactor (bombora), SHARPSPRING, Upland Software, and Liidio Oy (lead feeder).

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Teak Decking: Aesthetic Appeal and Durability Drive Demand in Luxury Applications

In 2023, the global teak decking industry was valued at USD 871.6 million. With a projected compound annual growth rate (CAGR) of 4.6% over the assessment period from 2023 to 2033, the market is anticipated to experience steady expansion. This growth trajectory is expected to culminate in a market size of USD 1,366.1 million by the end of 2033, reflecting the increasing demand for teak decking driven by its durability, aesthetic appeal, and rising applications in luxury construction and marine industries.

The growing tourism industry is one of the main factors driving the teak decking market. Boats, super yachts, and yachts are in high demand due to the rising popularity of marine tourism and leisure activities. Marine leisure companies are using teak decking to enhance the opulent experience and aesthetic appeal.

Teak decking is widely used in the tourism and hospitality sector, particularly in areas with coastal or waterfront properties. Its exceptional qualities make it appropriate for usage in a variety of applications. Teak decking lends a sense of beauty and elegance to hospitality establishments’ walkways, pool decks, and seating areas. It improves the outdoor spaces of hotels and resorts.

Teak is highly sought after for its aesthetic appeal, durability, and resistance to water. It’s a popular choice for decking material in the luxury yacht sector, driving demand for high-quality teak. The trend of creating luxurious outdoor living spaces has increased demand for teak decking in residential settings. Its natural beauty and weather-resistant properties make it an attractive option for application in such instances.

Teak decking is often used in upscale resorts, hotels, and cruise ships to create visually appealing outdoor areas for guests, contributing to the demand for teak products. As environmental concerns rise, consumers and businesses increasingly value sustainably-sourced materials. Teak from well-managed plantations appeals to eco-conscious consumers.

Teak has a rich history and is considered a premium wood, with heritage associated with craftsmanship and quality. This adds to its allure and drives demand. Teak’s natural oils and high density provide excellent resistance to decay and insects. It reduces the need for frequent replacements and maintenance, making it a cost-effective long-term choice.

Teak is used in several architectural applications beyond decking, such as exterior siding and flooring, contributing to its demand in the construction sector. Teak’s timeless aesthetic and versatility in design contribute to its popularity as a material for both classic and contemporary design styles.

Europe is the leading region in the global market as it has beautiful coastlines and a flourishing tourism industry across its countries, especially in Italy, the Netherlands, and France. Apart from Europe, the Middle East and Africa are expected to grow at above-average growth rates. Türkiye and UAE are the key driving countries for the Middle East and Africa market. Türkiye has a strong tourism industry and people own personal yachts and boats.

Key Takeaways from the Report:

The global market for teak decking is projected to witness a CAGR of 6% during the period between 2023 and 2033.
By grade, FEQ division is expected to expand at a CAGR of 6% in between 2023 and 2033.
By application, the marine segment is anticipated to reach US$ 540.7 million by the end of the projected period.
The United States is accounted to hold significant valuation in the global market by 2033.
Italy is set to dominate the Europe market with a CAGR of 5.5% throughout the projected period.

“Astonishing demand from marine sector is likely to drive demand in the teak decking market through 2033. Key players are creating innovative and aesthetically pleasing teak decking designs to cater to diverse consumer preferences. Even as interior design trends change, teakwood remains an attractive option for both contemporary, as well as modern designs.” – says a lead Future Market Insights (FMI) analyst.

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Competitive Landscape

Key players such as manufacturers, traders, and boat builders engage in responsible sourcing practices. Companies can also establish teak plantations to improve supply chain control and encourage sustainable practices.

Teak suppliers, producers, and boat builders frequently collaborate in the industry. Companies that collaborate can optimize supply chains, increase product development, and expand market reach. Industry associations and companies might create and promote teak decking certification programs and standards.

Key Players in the Market:

Teakdecking Systems is a creative business that creates, installs, and distributes high-quality decking materials for the global shipping sector. Products are made to the most significant quality standards, utilizing only the best, lawfully acquired materials.
GGI Myanmar is a Burmese producer of specialty hardwoods and teakwood. It provides high-quality flooring, paneling, trimwork, and furniture of different types for residential and commercial applications all over the world.

Teak Decking Market Top Players

GGI Myanmar
ETT Fine Woods
Teakdecking Systems
Global Teak, Inc (GTI)
Mys-Teak Holdings Inc.
Teak Resources Co.
COMILEGNO SRL
Advantage Lumber, LLC
BALAJI TIMBER AND PLYWOOD PRIVATE LIMITED
Friends Timber
Starwood Veneers Pvt. Ltd
Tank Group
ACCORD FLOORS

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Navigating the Fiber-Reinforced Plastic (FRP) Recycling Landscape: Trends, Challenges, and Opportunities

The value of the global fiber-reinforced plastic (FRP) recycling market is expected to grow to USD 1.0 billion by 2033 from USD 482.0 million in 2023. The market is expected to have a strong growth trajectory, with the demand for recycled fiber-reinforced plastic expected to increase at a rate of 8.0% CAGR on a global scale.

Adoption is expected to remain high for thermal and chemical recycling techniques due to their several benefits. As per the latest analysis, thermal/chemical recycling segment is forecast to progress at 7.7% CAGR during the assessment period.

Surging demand from end-use sectors such as transportation, building & construction, sports & leisure, and industrial is expected to drive the global FRP recycling market forward.

Rising environmental concerns along with implementation of stringent regulations is expected to uplift fiber-reinforced plastic (FRP) recycling demand during the assessment period.

Fiber-reinforced plastic recycling refers to the process of recovering and reusing materials from FRPs. The recycled materials are then utilized for manufacturing new products across several sectors.

There are multiple recycling techniques used by end-use sectors for recycling FRPs. These include, mechanical recycling, thermal/chemical recycling, and incineration & co-incineration.

Growing focus on reducing waste and conserving resources is expected to fuel demand for fiber-reinforced plastic recycling during the projection period.

Escalating environmental awareness and enforcement of strict regulations pertaining to waste management & disposal are compelling sectors to employ recycling for materials like FRPs. Adoption of recycling techniques helps to reduce landfill waste and the overall environmental impact.

Rising demand for recycled products such as recycled FRPs is expected to positively impact global fiber-reinforced plastic recycling sales revenues during the assessment period. Similarly, partnerships and collaborations between recycling companies, end-use sectors, and research institutions for driving innovations and investments in FRP recycling technologies might foster market development.

Key Takeaways from the Fiber-reinforced Plastic (FRP) Recycling Market Report:

The global fiber-reinforced plastic recycling industry is projected to reach US$ 1.0 billion by 2033.
Based on product, glass-fiber reinforced plastic segment is set to progress at 7.9% CAGR during the forecast period.
By recycling technique, thermal/chemical recycling segment is expected to thrive at 7.7% CAGR through 2033.
The United States FRP recycling market value is anticipated to total US$ 174.4 million by 2033.
FRP recycling demand in South Korea is predicted to increase at 7.9% CAGR during the assessment period.
China FRP recycling industry is likely to exceed a valuation of US$ 188.8 million by 2033.
Japan market is set to attain a valuation of US$ 150.0 million by 2033.
The United Kingdom market is poised to expand at 7.9% CAGR over the assessment period.

“Growing environmental concerns coupled with enforcement of new regulations for reducing composite waste is creating a conducive environment for the growth of the fiber-reinforced plastic recycling industry. To take advantage of emerging opportunities, key companies are likely to invest in new FRP recycling technologies and processes.” – says a lead Future Market Insights (FMI) analyst.

Competitive Landscape:

These top companies are concentrating on launching new fiber-reinforced plastic recycling technologies as well as establishing new recycling facilities. They are also employing strategies such as mergers, alliances, collaborations, acquisitions, partnerships, and agreements to solidify their market positions.

Recent developments:

In June 2023, Toray Resins Europe GmbH developed a recycling process for GFR PPS resin waste from injection molding processes.
In December 2021, Apply Carbon strengthened its presence by investing in new manufacturing facility for recycled carbon fiber.

Top Key Players in the Market

Aeron Composite Pvt. Ltd
Carbon Conversions
Carbon Fiber Recycle Industry Co. Ltd
Carbon Fiber Recycling
Conenor Ltd
Eco-Wolf Inc.
Gen 2 Carbon Limited
Global Fiberglass Solutions
Karborek Recycling Carbon Fibers
MCR (Mixt Composites Recyclables)
Mitsubishi Chemical Advanced Materials GmbH

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Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the fiber-reinforced plastic (FRP) recycling industry presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study reveals market projections based on product (glass-fiber reinforced plastic and carbon-fiber reinforced plastic), recycling technique (thermal/chemical recycling, incineration & co-incineration, and mechanical recycling), end use (industrial, transportation, building & construction, and sports & Leisure), and region (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa).

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Innovations in Agricultural Lubricants: Enhancing Mechanization and Sustainability in Farming

The global agricultural lubricants market is expected to experience significant growth, with demand projected to rise at a CAGR of 5.5% over the forecast period. By 2033, the market valuation is anticipated to reach approximately USD 826.7 million, driven by increasing agricultural mechanization and the need for efficient equipment performance.

Agricultural lubricants are essential for improving the efficiency and longevity of farming equipment, ranging from tractors to harvesters. They have the ability to reduce friction and wear & tear of machine components.

The growing adoption of advanced agricultural equipment due to the rise in farm mechanization is expected to drive demand for agricultural lubricants. These lubricants have several uses, including keeping machinery from wearing out, lowering friction, and guaranteeing peak performance under a variety of demanding farming circumstances.

Farmers are realizing how crucial premium lubricants are for protecting their equipment as well as enhancing their performance. As a result, they are spending rigorously on agricultural lubricants like gear oils, hydraulic fluids, and engine oils.

Agricultural lubricant demand will also rise steadily due to precision farming methods and the development of modern farming technologies. This is because precision farming operations place an even greater demand on reliable and efficient lubrication.

The agricultural lubricant business is now significantly influenced by sustainability and environmental concerns. The need for bio-based lubricants made from renewable resources is rising as farmers and other agricultural enterprises work to lessen their environmental effects.

Driving Forces Behind the Growth of the Agricultural Lubricant Market

The agricultural lubricant market is poised for significant growth, fueled by a convergence of factors that reflect the evolving landscape of farming and technology. As the agriculture sector rapidly expands, the demand for effective lubrication solutions is becoming increasingly crucial. Here are the key drivers propelling this growth:

1. Rapid Expansion of the Agriculture Sector

The global agriculture sector is experiencing unprecedented growth, driven by rising food demand and population expansion. This growth necessitates enhanced machinery and equipment, thereby increasing the demand for high-quality agricultural lubricants to ensure optimal performance and longevity.

2. Growing Trend Toward Mechanized Farming Practices

As farmers adopt mechanized farming practices to boost productivity and efficiency, the reliance on specialized lubricants becomes essential. Mechanization not only improves yield but also creates a need for lubricants that can withstand the demands of modern agricultural machinery, including tractors, harvesters, and irrigation systems.

3. Increasing Need for Regular Maintenance of Agricultural Equipment

The longevity and performance of agricultural equipment hinge on regular maintenance, with lubricants playing a crucial role. As farmers recognize the importance of upkeep for their machinery, the demand for high-quality lubricants is expected to surge, leading to a more robust market.

4. Rising Popularity of Bio-Based Agricultural Lubricants

Environmental concerns and sustainability are becoming paramount in agriculture. The rising popularity of bio-based lubricants, which are derived from renewable resources, reflects a shift towards eco-friendly solutions. These lubricants not only meet performance standards but also align with the growing consumer demand for sustainable practices in agriculture.

Key Takeaways from the Report:

The global market for agricultural lubricants is projected to expand at a 5.5% CAGR through 2033.
By base oil, the mineral oil segment is expected to total a valuation of US$ 226.9 Million by 2033.
By application, the tractor segment is set to hold a market share of 26.7% in 2023.
East Asia is expected to account for a significant share of about 30.9% in 2033.
Sales in the United States are projected to total US$ 94.9 Million by 2033.
China is projected to attain a valuation of US$ 152.7 Million by 2033.
Demand in India is predicted to rise at 5.0% CAGR through 2033.

“Growing need for high-performance lubricants and adoption of farming mechanization is expected to boost the global agricultural lubricant industry. Farmers are using increasingly sophisticated agricultural machinery, which highlights the need for specialized lubricants to maximize equipment performance. Strict environmental laws are also pushing the sector toward eco-friendly formulas,” – Says an Analyst at Future Market Insights (FMI).

Who is Winning?

Top agricultural lubricant manufacturers profiled in the report include –

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

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Agricultural Lubricant Market Segmentation Analysis:

By Product Type:

Engine Oil
Transmission Fluids
Hydraulic Fluid
Gear Oil
Grease
Other Lubricants

By Application:

Tractor
Harvester
Combine
Irrigation Systems
Tillage Equipment
Seeders and planters
Other Equipment

By Base Oil:

Mineral Oil
Synthetic Oil
Bio-based Oil

By Region:

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

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The Rise of Biomass Pellets in Europe: A Sustainable Solution for Renewable Energy

Biomass pellets are a clean-burning, cost-effective, and renewable source of fuel that is gaining high popularity as an alternative to fossil-based fuels. Biomass pellets can be produced from any type of compressed biomass or organic matter. This includes cordwood, wood chips, wood sawdust, waste paper, agricultural waste (residue), food waste, virgin lumber, and energy crops among others.

From 2023 to 2033, the European biomass pellets market is projected to experience robust growth, with sales expanding at a compound annual growth rate (CAGR) of 6.9%. This positive trajectory is expected to culminate in a substantial market size of USD 22,161.2 million by the end of the forecast period. The surge in demand for biomass pellets is driven by increasing environmental awareness, the push for renewable energy sources, and supportive governmental policies promoting sustainable energy solutions. This growth underscores a strong commitment to reducing carbon footprints and advancing toward cleaner energy alternatives across Europe.

The key application of biomass pellets is heating. They can be used in industrial heating, commercial or residential heating, and also in power generation.

Wood pellets are widely consumed for diverse applications in European countries such as in the United Kingdom, Netherlands, Italy, Germany, and others. The increasing cost of energy, electricity, and fluctuations in the oil and gas industry are propelling the demand for renewable products for power generation.

The United Kingdom is the leading and key consuming country followed by other European countries such as Denmark, The Netherlands, Italy, Germany, and others.

The growing demand for renewable energy has created export opportunities for European biomass pellet producers. Countries with surplus biomass resources, advanced pellet production technologies, and sustainability certifications are exporting biomass pellets to meet demand in other countries, contributing to market growth.

Key market players are focusing on alternative distribution channels, such as online, to strengthen their market presence in both regional and country-level markets.

The majority of key players are focusing on, expansion of production units whereas small-scale companies must invest significantly in research and development to introduce new products and expand their Europe presence. Also, key players are focusing on growth in strategic sectors and creating value hubs.

Key Takeaways:

Europe market of biomass pellets is projected to witness a CAGR of 9% during the period between 2023 and 2033.
Based on the end use, biomass pellets are widely used in residential sector majorly for heating and cooking purposes.
Based on the type, wood pellets are the dominant segment and hold more than 85% of the total market share.
Based on the country, the United Kingdom is the leading and key consuming country for biomass pellets, at 25% of the total Europe market.

“Expansion of production capacities to cater the growing demand for pellets is driving the market in Europe. Fluctuating prices of oil & gas in Europe, and demand for green and carbon-neutral technology are expected to provide growing opportunities to manufacturers.” – says a lead FMI analyst

Competitive Landscape

According to Future Market Insights (FMI) Analysis Energex, Blackwood Technology, Arbaflame AS, TTCL Public Company Limited, Verdo Holding A/S, Airex Energie Inc., Graanul Invest, Iwatani Corporation, Land Energy Girvan Limited, Schwaiger Holzindustrie GmbH and Co. KG, Holzwerke Weinzierl GmbH, Balcas Energy, Enviva, LP, Drax Group, Ambienta Biomasse, Naparpellet and others are the market players, which are identified as key players.

Key players are engaged in the expansion of production capacities along with research and development.

Key players are also involved in the long-term supply of the products with the end users to maintain the proper supply chain and uninterrupted supply of final products.

For instance:

On April 4th, 2022, Enviva announced a US$ 250 million investment in new production plant for bond, mississippi to serve growing demand for renewable resources.
December 12th, 2022, Enviva Inc. announced the signing of a new 10-year take-or-pay off-take fuel supply contract with an existing European customer, extendable for up to five years. \
On June 1^st 2019, Arbaflame signed a contract with Engie. The French energy company Engie will purchase 70,000 tonnes a year of Arbaflame’s patented wood pellets to replace coal in Engie’s coal power plant Maasvlakte in Rotterdam.

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Powering the Future: Growth Opportunities in the European Biomass Pellets Market

The European biomass pellets market is set to experience significant growth, fueled by the increasing demand for renewable energy sources and sustainable practices. With stringent environmental regulations and a strong commitment to reducing carbon emissions, many countries are turning to biomass as a viable alternative to fossil fuels.

Key growth opportunities in this market include:

Government Incentives: Policies promoting renewable energy adoption and providing subsidies for biomass utilization are driving investment in pellet production.
Technological Advancements: Innovations in production processes and pellet quality are enhancing efficiency and making biomass pellets more competitive with traditional energy sources.
Growing Industrial Demand: Sectors such as heating, power generation, and transportation are increasingly incorporating biomass pellets, offering vast market potential.
Rising Consumer Awareness: As awareness of climate change grows, consumers are seeking eco-friendly alternatives, boosting demand for biomass pellets for residential heating.
Regional Expansion: Countries in Eastern Europe and Scandinavia are becoming emerging markets, expanding the footprint of biomass pellet production and consumption.

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