RFID in Pharmaceuticals Market is predicted to expand at an impressive CAGR of 7.9% to close in on a valuation of US$ 2.2 Billion by 2028

Future Market Insights (FMI), in its new study, finds that the radio-frequency identification (RFID) in pharmaceuticals market was valued at over US$ 950 Mn in 2018, and is estimated to register a Y-o-Y growth at approximately 10% in 2019.  Prospects remain remarkable for the RFID in pharmaceuticals industry, as efficiency-led actions of players continue to enhance the reliability and accuracy of their business operations.

The study finds that drug tracing system remains the most lucrative application of RFID in pharmaceutical industry, accounting for approximately 60% sales. Efforts of the FDA, in collaboration with pharmaceutical suppliers, to maintain a secure drug supply in the wake of rising counterfeit drugs prevalence, has encouraged the pharmaceutical industry to use RFID in combination with the electronic product code (EPC) for real-time tracking, tracing, and authentication of drugs.

According to the study, such preventative measures against infiltration of counterfeit drugs are likely to have a positive economic influence on legitimate companies, who are now focusing on the deployment of anti-counterfeiting solutions. Focus of the organized players in the pharmaceutical sector to safeguard authenticity of their products, while creating moats for counterfeiters, will continue to favour growth of the RFID in pharmaceutical market.

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Chipless RFID Sales Remain Over 2X of Chipped RFID

According to the study, chipless RFIDs continue to gain robust attractiveness in the pharmaceutical industry, as they eliminate the hardware-related challenges associated with their chipped counterparts. Additionally, RFIDs without ICs allude at significant cost reduction of the component, in turn complementing their development and demand on a wide scale. However, complexities linked with designing and development of chipless RFID, such as data transmission and encoding, continue to sustain the demand for the chipped RFID to a certain extent. The study finds that sales of chipless RFID will remain over 2X that of the chipped RFID in 2019.

The study expects RFID reader to remain the core component in the RFID in pharmaceutical market, with growing focus of pharma suppliers on effective identification of products prior to their collection, storage and shipping. Gains in the RFID in pharmaceutical market will remain complemented by sales of RFID tags, with revenues in 2018 accounting for over one-third market share. 

Adoption Remains High among Drug Manufacturers

Application diversity of RFID in pharmaceutical industry has led its adoption among a wide range of end-users that range from drug manufacturers and drug wholesalers, to hospitals and clinics. The report estimates drug manufacturers to account for leading shares of the RFID in pharmaceutical market, who are constantly emphasizing on ensuring the authenticity of their products in the market. Adoption is expected to witness high-growth among drug wholesalers and hospitals and clinics, which collectively account for over two-fifth share of the market.

The study states that North America will remain the leading market for RFID in pharmaceutical, with Europe following the suit. Supremacy of developed economies in the RFID in pharmaceutical market is significantly attributed to stringent standards & regulations implemented for serialization, and relative greater prevalence of OTC and generic drugs in these regions. Additionally, focus of players in developed markets remains strong on brand protection, and preventing packaging-related product recalls, which in turn augurs well for growth of the RFID in pharmaceutical market.

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This FMI study also offers a long-term forecast of the RFID in pharmaceutical market for the period between 2018 and 2028. The RFID in pharmaceutical market is envisaged to record a CAGR of over 8% through 2028.

RADIO-FREQUENCY IDENTIFICATION (RFID) IN PHARMACEUTICALS MARKET TAXONOMY

The global gene editing tools market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Component

RFID Readers

RFID Tags

RFID Middleware

By Type

Chipped RFID

Chipless RFID

By Application

Drug Tracing System

Drug Quality Management

Others

By End Use

Drug Manufacturer

Drug Wholesalers

Hospitals and Clinics

Others

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Region

North America

Latin America

Western Europe

Asia Pacific Excluding Japan

Eastern Europe

Middle East and Africa

Japan

About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Monocalcium Phosphate Market Overview With Geographical Segmentation By Revenue With Forecast 2027

Monocalcium Phosphate is a chemical compound with chemical formula Ca(H2PO4). It contains phosphate, calcium and hydrogen. It is a white or gray powder with an average hygroscopic property and is soluble in water. Monocalcium phosphate is formed from specially prepared phosphoric acid and calcite material. It is made from natural minerals causing reactions forming quality phosphoric acid which has to be mined, refined and purified. Specified intake of monocalcium phosphate or other phosphate salts is proved to be beneficial for the body and health of human and animals.

Monocalcium phosphate is a leavening agent, and the additive for domestic animals and birds feed. It benefited the animals as phosphorous and calcium are important for the bone formation and strong skeletal development. It helps in the functional improvisation of the animal organism, protein metabolism, reproduction system, nervous system and immunity system.

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Global Monocalcium phosphate: Segment Overview

The monocalcium phosphate is used in wide variety of applications and industrial processes. The monocalcium phosphate market is segmented on its physical forms, applications and functional use. In physical forms, the monocalcium phosphate is segmented into powdered and liquid form depending on the food or applications.

Based on its applications, the monocalcium phosphate is used in agriculture as a fertilizer, in food production in bakery products such as cakes, dough, cookies, energy powders, malted milk powder, and canned food, in beverages and animal feed and other industries.

Based on its functional use, monocalcium phosphate is used as a food additive in packaged food, beverages, leavening agent. It is also used as an acid component.

Global Monocalcium phosphate: Regional Overview

The market for the global monocalcium phosphate market its presence in the regions including Latin America, North America, Europe- Eastern and Western, Asia Pacific, Japan and the Middle East and Africa. Owing to rapid development in the agriculture and food industries, the Asia-Pacific market is expected to have significant CAGR in the forecast period. The China by its monocalcium phosphate production and consumption is leading followed by North America and Europe. The monocalcium phosphate market is anticipated to perform well shortly owing to the shear versatility of applications in food, agriculture and beverage industry and growing meat consumption rate in India and other Asia Pacific regions. The market suffers heavily due to political instability in the regions of the Middle East and Africa.

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Global Monocalcium phosphate: Market Players

The prominent players of the monocalcium phosphate market includes

PhosAgro, EuroChem, Mosaic, Fosfitalia Group, Lomon Company Co. Ltd, Sichuan Chuanheng Chemical Corporation, TIMAB, Wengfu Group, AB “ Lifosa,” GC Ingredients Inc., Elixir Group Doo, Lianyungang Yunbo Chemical, Guizhou Zerophos Chemical, Guangxi Guilin RongDe Chemicals, Orientphos Chemical, Nanjing Jiayi Sunway Chemical

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Global Monocalcium phosphate Market: Segmentation

By physical forms

  • Powder
  • Liquid

By Applications

  • Fertilizers
  • Food Production
  • Beverages
  • Animal Feed
  • Bakery
  • Other

By Functional Use

  • Additive
  • Leavening agent
  • Acid component

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

 

 

Colorimeter Market 2022 Outlook, Current and Future Industry Landscape Analysis 2027

Future Market Insights, in its new study, reveals that the global colorimeter market is estimated to be valued at ~US$ 635 Mn in 2022, and expand at a CAGR of ~8% during the forecast period of 2022 – 2029. Gains remain primarily fuelled by the increasing usage of colorimeters in rapidly expanding end-use sectors such as food & beverages, pharmaceuticals, paints & textiles, chemical, and water utilities.

2016-2021 Global Colorimeter Market Outlook Compared to 2022-2029 Forecast

Colorimeter demand is rising because of the rapid growth of the pharmaceutical, water utility, and food and beverage industries in various developing economies throughout the world. One of the primary factors likely to fuel the market’s expansion over the forecast period is the region’s increasing industrialization.

Furthermore, governments in various countries, are progressively adopting programs to improve the quality of variables such as water, food and beverage, and other factors, resulting in an increase in demand for colorimeters. The rise of the economies in such regions is mostly fueled by industrialization and urbanization, which is increasing demand for colorimeters in consumer electronics, textiles, and automotive parts, among other things.

The demand outlook for colorimeters between 2014 and 2021 remains 6.6% as the pandemic crisis has impacted the market. The usage of colorimeters is likely to grow at a growth rate of 6.8% by Volume over the assessment period of 2022-2029.

global colorimeter Market

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Lucrative Growth Opportunities in North America & East AsiaRegions such as North America & East Asia are anticipated to hold significant share in the colorimeter market in terms of value. In East Asia, China will continue to offer greater opportunities for the colorimeter market players, in the view of rapidly expanding water utilities and food & beverage industries to sustain the needs of growing populace.

Some macroeconomic factors such as increasing contribution of water utilities towards GDP growth, heavy investments in research and development, significant growth of end-use industries, and strong presence of manufacturers in the region are also playing a role in shaping the market for colorimeters. In sequence, the analytical testing instruments manufacturing industry of East Asia is gaining substantial and positive momentum, which is forecasted to drive the growth of the colorimeter market in East Asia.

There are stricter regulations for water utilities for environmental monitoring in North American countries, especially in the US. Therefore, the demand for colorimeters is expected to increase considerably during the forecast period, at a significant CAGR.

Portable Colorimeters to Witness High DemandIn the FMI’s study, the colorimeter market has been analysed across various regions such as North America, Latin America, Europe, Middle East & Africa, East Asia, South Asia, and Oceania, in terms of product, portability, and end use.

In recent years, portable colorimeters are gaining higher traction over their stationary counterparts, though the latter continues to account for greater share in the global market. FMI’s study finds that the sales of color densitometers will remain higher than that of color photometers, due to their increasing usage in the manufacturing of food & beverage and water utility industry.

While increasing application of colorimeters in oil & gas industry continues to influence the growth strategies, manufacturers are tapping into newer opportunities in automotive, pharmaceuticals, food & beverages, paints & textiles, chemical, research & educational institutes, agriculture, water utilities, healthcare, automotive & transportation, and electronics.

Colorimeter Market: Vendor InsightsThe report highlights some of the prominent market players that are holding significant shares of the colorimeter market. Some of the prominent players in the global colorimeter market are Thermo Fisher Scientific, Inc., Danaher, Konica Minolta Sensing Americas, Inc., Xylem Inc., Hanna Instruments, and PCE Instruments.

Global Colorimeter Market by CategoryBy Product :

  • Color Densitometers
  • Color Photometers

By Portability :

  • Portable
  • Stationary

By End User :

  • Pharmaceutical
  • Food & Beverage
  • Paints & Textile
  • Chemical
  • Research & Educational Institutes
  • Agriculture
  • Water Utilities
  • Healthcare
  • Automotive & Transportation
  • Electronics

By Region :

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA).

LED Light Bar Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2027

Over 1.5 million LED light bars were sold in 2018, equaling a market value worth US$ 825 Mn. A new FMI study finds that the LED light bar market is projected to grow at 3.7% y-o-y in 2019. Key factors responsible for the projected growth of the market include,

  • Higher adoption of LED lighting as a potential substitute for traditional light sources
  • Automakers and construction engineers seeking innovations in the LED light system
  • Huge advantages of energy efficiency associated with LED lighting
  • Consistent R&D investments to improve performance with better phosphors and other materials

Single Row LED Light Bars Accounted for Half the Sales in 2018

The FMI study finds that nearly 5 in 10 LED light bar purchased in 2018 were single row LED light bars. Greater preference for single luminaire augurs well for the single row LED light bar sales. While single row LED light bars are expected to grow at 4.1% in 2019, LED light bars with two rows or dual row will register the second highest sales in the market.

Preference for single and dual-LED light bar remains limited to application with small to mid-sized areas such as residential and commercial spaces whereas application of triple row or quad row can be found at larger public places or private event areas.

Combo Beam Pattern Top Selling, Accounting for Over 6 in 10 LED Light Bars

The study finds that sales of LED light bars with combo beam pattern registered over one-third of the global LED light bar market revenues in 2018. With that over 6 in 10 LED light bars to be sold in 2019 will be with combo beam pattern. Demand for LED light bars with combo beam pattern remains highly consolidated in off-road heavy-duty automobiles and some specialized applications.

Flood and spot beam patterns collectively accounted for nearly one third of the market revenue in 2018. However, demand for flood beam pattern in LED light bar remains higher as compared to LED light bars with spot beam pattern.

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Application in Events and Shows Continues to Surge

FMI opines that 4 in 10 LED light bars were sold for the application in events and shows in 2018. Use of LED light bars remains higher in events and shows as stakeholders seek cost-saving and energy-efficient ways to optimize the overall cost structure. The demand trend in events and shows application is likely to continue in the future wherein growth of 4% is projected in 2019.

Automotive is another lucrative application segment for LED light bars wherein automakers are vying to introduce innovative as well as appealing designs of LED light bars. With a 4% growth rate, nearly 3 in 10 LED light bars are expected to be sold in the automotive sector in 2019.

Low Power Rating – A Key Influencing Factor

The FMI study estimates that over 3 in 10 LED light bars sold in 2018 were with power rating below 100 W. Manufacturers in the market offer LED light bar of 100 w of lower power rating with high luminaire, compact design, power options and versatile mounting. As these low power rating LED light bars fit well in the tight requirements of end-users in terms of cost saving and energy efficiency, their sales are expected to grow steadily in the future.

Manufacturers in the LED light bar market offer power rating ranging from below 100 W to above 300 W. The study finds that sales of 101-200 W LED light bars is expected to grow rapidly in coming years as demand for greater illumination in single luminaire continues to rise.

APEJ Spearheads LED Light Bar Sales

The FMI study reveals that APEJ continues to witness significant demand for LED light bars. In 2018, the region accounted for 4 in 10 LED light bars sold across world regions. While Europe represents the second largest demand for LED light bars, Latin America, despite lower sales, is projected to witness increasing demand and grow at 4% in 2019.

Sales of LED light bars continue to rise steadily in developing countries wherein demand aggregation remains no more limited to the residential or automotive sector but extends to public sectors on the back of increasing energy requirements.

Key SegmentOn the basis of configuration

  • single row
  • double row
  • triple row
  • quad row

On the basis of beam pattern

  • flood
  • spot
  • combo lights

On the basis of application

  • events & shows
  • automotive
  • restaurants & bars
  • charter & boats

On the basis of power rating

  • below 100W
  • 101-200W
  • 201-300W
  • above 300W

Fire Pump Test Meters Market 2022 Outlook, Current and Future Industry Landscape Analysis 2027

The fire pump test meters market growth is likely to continue an upward trajectory, with global demand set to surpass US$ 192 Mn in 2019, up from nearly 183 Mn in 2018. These insights are as per the latest FMI research study that projects a promising outlook for fire pump test meters market 2019 and beyond.

According to the study, broader trends, such as growing emphasis on enhancing operational efficiency and mitigating downtime continue to fuel investment in fire pump test meters.

The FMI study finds that end-users continue to show a marked preference for mid-sized pipes, owing to wider applications across a range of applications. The study opines that ‘5.1 inches to 9 inches’ will remain the topselling variant in 2019, with the status-quo unlikely to change during the course of the forecast period.

FMI Survey Finds End-Users Prefer Grooved Fire Pump Test Meters over Flanged Variants

The FMI survey finds that fire pump test meters with grooved body type remain highly-favored, with global sales likely to equal a market value of over US$ 95 Mn in 2019. The oil, gas, and chemicals industries continue to spearhead demand, with the market benefitting from the recovery in oil prices. According to the study, evolving regulations concerning safety at oil & gas plants are likely to hard press stakeholders to bolster their security apparatus.

Fire pump test meter sales in the oil & gas industry are likely to be complemented by growing applications in power generation sector. Testing equipment, including fire pump test meters, is emerging as a viable investment for reducing high insurance costs in the power generation sector; the FMI study remains bullish on adoption of fire testing equipment in power generation sector in the future.

North America, spearheaded by healthy sales in the US, retains its lucrativeness in the fire pump testing meters market. The lucrativeness of this region can be attributed to growing emphasis on process streamlining by diverse industry verticals.

The manufacturing framework of fire pump testing meters remains highly influenced by codes and standards issued by prominent organizations, such as National Fire Protection Association (NFPA), vis-à-vis design of fire pumps and related components. Moreover, NFPA guidelines on inspection of fire pump test meters post initial installation and on annual basis thereafter remains a crucial aspect encouraging manufacturers to offer value-added services. With disruptive innovations gaining traction, manufacturers are vying to offer advanced products that simplify testing processes with a high level of reliability.

Addressing the challenges associated with accuracy in high precision for even low-end readings remains a key focus area for manufacturers. Sensing the shifts in end-user demand, manufacturers are incorporating advanced materials to withstand extremes of operational environment. Fire pump test meter manufacturers are also offering extended warranties to boost consumer confidence and repeat sales.

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Key SegmentOn the basis of pipe size

  • 1-5 inches
  • 5.1-9 inches
  • 9.1-12 inches

On the basis of body type

  • grooved
  • flanged
  • others

On the basis of end use

  • oil
  • gas & chemicals
  • power generation
  • manufacturing
  • fire protection
  • pulp & paper
  • other industries

Natural Cosmetics Market 2022 Outlook, Current and Future Industry Landscape Analysis 2027

According to a recently published business intelligence report by Future Market Insights (FMI), the global natural cosmetics market was valued over US$ 36 Bn in 2019. Rising awareness about the side effects of chemical-based beauty products and the trend of ‘green beauty’ are encouraging manufacturers to increase the production of natural cosmetics to target and retain a large segment of consumers.

Tata’s Natural Alchemy, LLC and Henkel AG & Company, KGaA are amongst the top companies introducing all chemical-free products in their portfolio, as consumers’ inclination towards cosmetics with natural, safer ingredients intensifies.

Natural Cosmetics for Male Consumers to Gain Traction in FutureModern men are taking a keen interest in caring for their skin. A rising number of men are inclining towards personal grooming and boosting greater self-confidence by looking good. In recent times, men are no longer limiting themselves to only shaving products and deodorants and becoming a habitual user of skin and personal care products.

The organic and vegan beauty movement is also playing an important role in building male consumer base. Additionally, chemical-free skincare products are finding greater resonance among young men who choose to align themselves with renowned brands. This, in turn, is expected to fuel the demand for natural cosmetics for male consumers.

Key Takeaways – Natural Cosmetics Market Study 

  • In comparison with demand in commercial spaces such as salons & spa, household consumption of natural cosmetics remain on higher side. Adoption of natural cosmetics in households accounts for approximately 2/3rd of the market revenue.
  • As per the FMI’s study, hair care and skincare natural cosmetics account for more than 50% of the total sales. Growing demand for these traditional products with organic and plant-based ingredients is expected to complement the market growth.
  • In 2019, sales of unisex natural cosmetics held over 1/4th of the total revenue. On the contrary, natural cosmetics for men are expected to witness higher demand over the forecast period.
  • Sales of natural cosmetics through wholesalers or distributors continue to account for high share of the global market value.
  • In order to strengthen their distribution network and increase consumer base, manufacturers are directing their sales towards convenience store and hypermarkets/supermarkets.
  • Distribution via online stores is expected to gain tremendous popularity in the near future.

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Europe Captures Major Market ShareOver the forecast period, Europe will continue to hold a significant share in the global natural cosmetics market. European Union has set up a sophisticated legislative framework for players to enter the natural cosmetics market. It assures that products sold in the EU market should fulfil the required standards.

In addition, European consumers widely prefer natural and plant-based products as the region support sustainability, which, in turn, is fueling the market growth. Demand will remain concentrated in Germany, Spain, France, Italy, and the UK and the presence of a larger distribution network with various sales channels will continue to attract new consumers.

More Valuable InsightsFMI’s report on the natural cosmetics market is segmented into five major sections-

Product

  • Skincare
  • Haircare
  • Fragrance
  • Toiletries

Application

  • Male
  • Female
  • Unisex
  • Baby

End-use

  • Personal care
  • Salon & spa

Sales Region

  • Hypermarket/Supermarket
  • Online Stores
  • Convenience Stores
  • Specialty Stores
  • Wholesale/Distributors
  • Club Stores

And region to help readers understand and evaluate lucrative opportunities in the global natural cosmetics market.

Construction Material Testing Equipment Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2027

Construction material testing equipment sales surpassed 1 million units in 2018, equaling a market value worth US$ 2.5 billion. A new study by FMI projects revenues to grow at 4.9% y-o-y in 2019. The overall growth of the construction material testing equipment market can be attributed to,

  • Growing interest of property buyers to investigate the quality of construction before the purchase
  • Rising importance of durability of construction projects in a bid to ensure public safety
  • Bullish growth of the construction materials market and introduction of innovative products
  • Stringent regulatory standards for construction material testing

“Civil engineering projects are largely dependent on the quality of construction materials as they help builders in identifying problems before utilizing the resources, thereby ensuring the economic output of the construction project. This puts construction material testing equipment at hotspot wherein their operations determine the longevity of any infrastructure while lowering future investments in repair and maintenance,” says FMI.

As construction material testing equipment is an integral part of construction projects, their demand is likely to remain steady in the construction sector. The study finds that demand for construction material testing equipment market is likely to remain higher in on-site locations – in 2018, 5 in 10 construction material testing equipment were sold in on-site location projects.

R&D laboratories and educational institutes also use construction material testing equipment, wherein construction materials are tested during the process of materials production or pilot studies. Extensive research and development activities in the construction materials industry to introduce innovative yet durable materials further increases the importance of construction material testing equipment.

Over 3 in 10 Testing Equipment Sold in Commercial Applications in 2018

Material testing plays a crucial role throughout construction testing as it provides affordable as well as important measures required to ensure long-term sustenance of all infrastructures. With the rising commercial building constructions in developed as well as developing regions, application of construction material testing equipment is likely to consolidate in the commercial application which accounted for over one-third of total sales in 2018.

The FMI study finds that commercial applications accounted for nearly 30% of global sales of construction material testing equipment, whereas transport applications accounted for nearly 20% sales. Residential application also contributed to a significant demand for construction material testing equipment as manufacturers now deliver residential application-specific testing equipment.

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Soil Testing Equipment Remain Highly Sought-After

The FMI finds that demand for soil testing equipment remains highest in the construction material testing equipment market and accounted for over 4 in 10 testing equipment sold in 2018. Inspection of soil properties is essential to implement any infrastructure project successfully. Henceforth, soil testing equipments play crucial role in helping builders to understand the behavior of soil which will be used in construction projects as a structural or filling material.

The study opines that remaining 60% share of the construction material testing equipment sales was attributed to equipments that test materials such as aggregate, concrete and other construction materials.

According to the FMI study, APEJ accounted for one-third of the global demand for construction material testing equipment in 2018. Over the past few years, investments in infrastructure have been one of the key drivers of the region’s economic development.

The region has a dynamic construction sector wherein some countries are engaged in developing domestic infrastructure whereas others are leveraging the potential of export market. In particular, China remains a highly competitive market for construction material testing equipment and accounted for over one-fourth of APEJ demand in 2018.

Europe follows APEJ in terms of construction material testing equipment units sold in 2018. Demand remains concentrated in Germany, whereas the UK also accounts for a significant share of demand in the construction material testing equipment market.

The FMI report tracks the construction material testing equipment market for the period 2019-2027. According to the report, the construction material testing equipment market is projected to grow at 4.9% CAGR through 2027.

Key SegmentOn the basis of location

  • on-site
  • R&D laboratories
  • educational institutes

On the basis of application

  • residential
  • commercial
  • transport
  • other applications

On the basis of product type

  • soil testing equipment
  • aggregate testing equipment
  • concrete testing equipment
  • others

Furniture Polish Market is expected to grow at a CAGR of Approximately Over 2022-2027

Furniture polish sales are likely to grow at over 4% y-o-y in 2019 and surpass 230 mn liters in 2019. The demand for furniture polish has significantly taken off in tandem with the broader growth in the furniture industry. Gains have been complemented by a notable rise in furniture exports, a key aspect encouraging high-scale production activities. FMI’s new study on furniture polish market profiles this evolving landscape, bringing key insights to the fore.

Technological reformations and extensive analysis of end-user specification sentiments remain vital for growth in furniture polish market. According to FMI’s analysis, penetration of e-commerce channels is inducing a massive shift among customers toward online channels. This trend is further being driven by availability of multiple products along with favorable deals.

Rapid transition toward water-based furniture polish is a palpable trend picking in furniture polish market. The disadvantages associated with chemical-based furniture polish, such as strong odor and harmful fumes, are inducing a shift towards water-based variants with safer applications. According to FMI’s analysis, water-based furniture polishes sales are also likely to grow on account of increasing reluctance toward VOC-inclusive products.

The FMI study finds that end-user preference for aerosol furniture polish continues to remain intact, with global sales likely to exceed 87 mn liters in 2019. Ease of usage, streak-free luster, and competitive pricing are among the key factors fuelling demand for aerosol furniture polish over other variants.

“In a bid to gain a competitive edge, manufacturers are vying to differentiate their marketing strategies with new ideas. For instance, key manufacturers of furniture polishes participate in large furniture fairs where they present and promote their collections among furniture enthusiasts”, says FMI’s report

Fire- and Heat- Resistant Furniture Sales Witnessing a Surge

While aerosol furniture polish continues to witness healthy demand, solvent-based furniture polish coffee machines are likely to proliferate at an impressive rate. Widely-acknowledged for their optimal efficiency, demand for solvent-based solutions is likely to grow at an impressive rate in 2019.

Melamine remains a highly-favored source in the furniture polish market as it offers a greater degree of flexibility and versatility to end-users. As end-users demand polishes that enhance fire- and heat- resistance, melamine sales have witnessed a spike in the recent years — the FMI study forecasts melamine furniture polish will surpass 65 mn liters in 2019.

According to FMI’s study, Asia Pacific excluding Japan (APEJ) accounted for nearly 30% share of the furniture polish market in 2018. Demand for furniture polishes in APEJ remains concentrated in China and India, where a burgeoning middle class continues to create sustained opportunities for manufacturers. The FMI report opines that APEJ will continue to be the largest market for furniture polishes in 2019, with North America and Europe following suit. Furniture polish sales in North America are likely to remain concentrated in the US, whereas EU5 countries continue to be at the forefront of demand in Europe.

The FMI study also profiles growth opportunities in emerging markets. The report opines that Middle East and Africa (MEA) will offer lucrative opportunities for furniture polish manufacturers, as many countries in the region work towards reducing their dependence on oil exports. The study remains bullish on the furniture polish sales in MEA, with revenues likely to grow at 2.8% y-o-y in 2018.

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The FMI report analyzes emerging opportunities in the furniture polish market for the forecast period of 2019-2027. As per the report, the furniture polish market is estimated to grow at a volume CAGR of 4.6% through 2027.

Key SegmentOn the basis of product type

  • solvent
  • liquid
  • aerosols

On the basis of source

  • alkyd
  • melamine
  • polyester
  • lacquer
  • others

On the basis of end use

  • household
  • corporate offices
  • hospitality
  • educational institutes
  • restaurants & cafes
  • furniture manufacturers
  • others

On the basis of sales channel

  • wholesaler/distributors
  • supermarket/hypermarkets
  • specialty stores
  • online stores

LTE Testing Equipment Market is expected to grow at a CAGR of Approximately Over 2022 to 2027

Exceptional penetration of wireless technology has been steadily pushing LTE (Long-term Evolution) deployment in recent past. With thriving consumer demand for high speed connectivity, growing emergency of accurate carrier testing, battery testing, conformance testing, and field evaluation is also fueling the sales of LTE testing equipment worldwide.  Over-the-air (OTA) testing plays a crucial role in evaluation of realistic capabilities, safety, and reliability of wireless devices.

According to a newly published intelligence outlook by Future Market Insights, remarkable expanse of telecommunication infrastructure will remain the prime factor driving adoption of LTE testing equipment. The approximately below US$ 3 billion market for LTE testing equipment is projected to demonstrate exponential revenue growth in coming years.

As IoT spreads its roots across all verticals, industry operators are extending their demand for integration of a massive network of connected devices and machinery. The resultant emergence of new alternatives of connectivity is prominently driving the expansion of LTE testing equipment on a global label.

Telecom Holds the Lion’s Share in Global Market Revenue

Telecommunication service providers continue to register maximum installation of LTE testing equipment. Smartphone adoption and subsequently following network connection demand are rapidly translating into robust sales of LTE testing equipment. Rapid connectivity migration from 3G to 4G and 5G is cited as the most prominent driving force instrumenting stellar revenue growth of LTE testing equipment, in recent years.

Looking at the flourishing smartphone landscape in Asia Pacific, it is more likely that the region, along with the developing economies in the Middle Eastern and African region, are also slated to develop high market attractiveness in coming years. Africa, a relatively untapped market for LTE providers, is likely to create a heap of opportunities for both LTE providers and LTE testing equipment suppliers in the near future on account of the thriving telecom industry.

Developing Economies Reflecting Maximum LTE Deployment Potential

India, a potentially attractive pocket of investment for LTE products providers, recently witnessed the launch of a new 4G LTE Network by VNL Limited, a prominent manufacturer in the telecom space. The company has unveiled this LTE network for 4G connectivity across rural parts of India and is offering LTE products at economical prices, with a seamless connectivity. Such developments are foreseen to support the growth of Asia’s LTE testing equipment market, thereby adding to the global revenue of LTE testing equipment landscape.

South Korea is also positioned as a lucrative, high potential market for LTE testing equipment providers, as the country has witnessed rapid roll-out of the LTE network and the current penetration of the network is more than 97%. South Korean telecom operators such as SK Telecom are deploying LTE testing equipment for the network test and measurement in diverse devices. SK Telecom recently extended the outreach of their high speed LTE network to serve over 30 Korean countries and around 75 cities. The report thus points exceptional scope of penetration of LTE testing equipment in South Korean market.

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Key Market Players Focussing on Partnerships & Alliances

As revealed by an extensive assessment of the global competitive landscape of LTE testing equipment market, a majority of the prominent manufacturers and vendors of LTE testing equipment are likely to opt for strategic collaborations and partnerships.

While these strategic deals are considered paramount for LTE testing equipment upgrade, the strategy is more likely to offer market participants a competitive edge over others.

Recently, a collaboration between Rohde&Schwarz, and Gemalto has paved the way for development of new T&M tools that facilitate LTE testing by reducing time and costs, which are otherwise challenging in case of LTE and LTE advanced modules.

A few more prominent companies operating in global LTE testing equipment market include Anritsu, Spirent Communications, Agilent Technologies, Inc., Anite, Aeroflex Inc., Tektronix, Inc., and Fluke Corporation.

Key SegmentOn the basis of type

  • OTA Test
  • Carrier Test
  • Battery Test
  • Conformance Test
  • Field Test

On the basis of application

  • research and development
  • manufacturing
  • installation and monitoring

On the basis of end-user

  • network equipment manufacturer
  • mobile device manufacturer
  • telecommunication service provider.

Laboratory Filtration Equipment and Supplies Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2027

The ultrafiltration technique is becoming a preferred choice among end users in the laboratory filtration equipment and supplies market. Recent improvements in cartridge configurations and varied membrane types have enhanced the technical reliability for large volume applications such as industrial waste water treatment and surface water treatment.

A new report by Future Market Insights (FMI) presents a comprehensive revenue assessment of the global laboratory filtration equipment and supplies market and throws light on the various factors influencing growth in sales of laboratory filtration equipment and supplies. The study further highlights various developments among the leading players operating in the laboratory filtration equipment and supplies market.

Key Developments in the Laboratory Filtration Equipment and Supplies Market

  • In 2018, Merck, a Germany-based manufacturer of laboratory filtration equipment and supplies, launched a user-friendly single-use flow filtration device that reduces the risk of cross-contamination in products and prevents exposure to toxic compounds
  • Dow Chemicals launched ultrafiltration modules that reject particulates that are 0.03 microns and above. This equipment is frequently used in industrial water pre-treatment, as well as in wastewater and water reuse systems
  • Hungerford & Terry, a provider of water treatment systems, has collaborated with Dow Chemicals to launch ultrafiltration products such as ultrafiltration membranes, hollow fibre, etc.

These developments are expected to positively impact growth of the global laboratory filtration equipment and supplies market.

Increasing Adoption in DNA Analysis and Drug Screening Processes to Drive Revenue in the Laboratory Filtration Equipment and Supplies Market

On the basis of end use, the laboratory filtration equipment and supplies market is segmented into food & beverage companies, pharmaceutical & biotechnology companies, hospital & diagnostic laboratories, and academic & research institutes. Filtration equipment is gaining traction and is used during the process of drug screening and DNA analysis as these processes require high purity and sterility. Manufacturers in the laboratory filtration equipment and supplies market are focussing on offering upgraded laboratory filtration equipment and supplies for various applications such as insulin pumps, patient monitors, dialysis machines, and others. This equipment is also used during the purification of DNA, RNA, oligonucleotides, as well as in the preparation of complex drugs.

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Multiple Applications of Laboratory Filtration Equipment and Supplies Across Diverse Industry Verticals

Manufacturers of laboratory filtration equipment and supplies have started offering industry and application specific devices to cater to the growing needs of industries such as pharmaceuticals and food and beverages. While pharmaceutical and biotechnology companies are increasingly adopting filtration equipment for particle separation and to reduce risk and improve quality, food and beverage companies are demanding laboratory filtration equipment and supplies to enhance product quality and maintain the requisite ingredient quantity in product formulations. The adoption of laboratory filtration equipment and supplies across industries is gradually increasing, and this is pushing revenues in the global market.

North America to Remain Largest Revenue Pocket for Laboratory Filtration Equipment and Supplies

A strong presence of pharmaceutical and biotechnology companies and growing research and development activities in North America are the main factors positively impacting revenue growth of the North America laboratory filtration equipment and supplies market. Increased R&D spending in the U.S. (accounting for 2.7% of its GDP) is expected to bode well for the laboratory filtration equipment and supplies market in North America. The APEJ laboratory filtration equipment and supplies market is expected to register significant growth owing to the rapid industrialisation and growing penetration of international pharmaceutical and biotechnology companies in the region.

Competitive Landscape of the Laboratory Filtration Equipment and Supplies Market

As per FMI analysis, Thermo Fisher Scientific is one of the prominent vendors in the laboratory filtration equipment and supplies market. The company offers laboratory filtration equipment and supplies with upgraded features for varied end-use industries such as pharmaceutical & biotechnology companies, academic & research institutes, and others. Some of the other market participants featured in FMI’s global laboratory filtration equipment and supplies market report are Pall Corporation, Merck Millipore, Sartorius Group, 3M Company, GE Healthcare, Sartorius, MACHEREY-NAGEL GmbH & Co. KG, Synder Filtration, Inc., AMD Manufacturing Inc., Microfilt India Pvt. Ltd. and GEA Filtration. Many of the leading players in the laboratory filtration equipment and supplies market are focussing on entering the untapped markets of developing regions.

Laboratory Filtration Equipment and Supplies Market: Key Segments CoveredProduct Type

  • Microfiltration
  • Reverse Osmosis
  • Ultrafiltration
  • Nanofiltration
  • Vacuum Filtration
  • Accessories

End User

  • Food & Beverage Companies
  • Pharmaceutical & Biotechnology Companies
  • Hospital & Diagnostic Laboratories
  • Academic & Research Institutes

Key Regions Covered

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Russia
    • France
    • Italy
    • Rest Of Europe
  • Japan
  • APEJ
    • China
    • India
    • Malaysia
    • Singapore
    • Australia
    • Rest of APEJ
  • Middle East & Africa
    • GCC Countries
    • Israel
    • South Africa
    • Rest of MEA