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Aronia berries are also known as chokeberries and are derived from a genus of deciduous shrubs in the Rosaceae family native to North America. It is used in gummies, ice cream, beer, chili starters, salsa, tea, soft spreads, juices, wine, and jam and medicinal products such as tinctures, extracts, syrup, etc. Aronia berries fruits contain highest amount of antioxidant; therefore used in various supplements and medicinal preparation. The global aronia berries market is expected to grow at a significant growth rate, attributed to pharmacological and food & beverages industry across the globe over the forecast period.

Global Aronia Berries Market: Dynamics

Growing industries such as pharmaceuticals, nutraceuticals, food & beverages, and beauty & personal care is expected to fuel the global aronia berries market over the forecast period. The other major factors driving the global aronia berries market include increasing health consciousness among consumers and increasing predominance of lifestyle diseases across the globe.

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High medicinal benefits of aronia berries such as reducing the risk of influenza, flu, free radical formation, the risk of cancer, cardiovascular ailments, diabetes, risk of circulatory problems, etc. are also some of the important factors driving the global aronia berries market. Whereas, high cost of aronia berries is expected to restrain its growth in developing economies such as the Middle East and Africa and Asia Pacific.

Companies manufacturing plant-based beverages products can leverage potential opportunities in regions such as North America, Europe, and Asia Pacific, attributed to rapidly growing demand for supplements and disease preventive products.

Global Aronia Berries Market: Regional Overview

On the basis of geography, the global aronia berries market is fragmented into seven regions namely, North America, Western Europe, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan.

The North America aronia berries market is expected to dominate global berries extract market in terms of revenue share over the forecast period as the berries are native to North America followed by Western Europe aronia berries market, attributed to increasing demand for berries and new products. It is most frequently consumed in Eastern Europe.

Whereas, Asia-Pacific is expected to expand at a relatively significant growth rate in the global aronia berries market over the forecast period, owing to high growth rate of food and beverages industry in the region.

The Middle East & Africa is expected to represent a low opportunity in the global aronia berries market, owing to the moderate economic, agricultural and industrial development, high price, and low popularity for the aronia berries in the region. Overall, the outlook for the global aronia berries market is positive over the forecast period.

Global Aronia Berries Market: Key Players

Some of the players identified in the global aronia berries market include Cedar Gardens LLC, Bellbrook Berry Farm, B.T. Aronia Farm, Sawmill Hollow Family Farm, OPG Medic, Microstructure Sp. z o.o., P.P.H.U. Bio Juice, GreenField Sp. z o.o. Sp. k., TECOFOOD sp. z o.o., and Mae’s Health and Wellness, LLC.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.

The report covers exhaust analysis on:

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

The regional analysis includes:

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

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

Global Aronia Berries Market: Segmentation

The global aronia berries market is segmented on the basis of product type, distribution channel, product form, source, and region. Aronia melanocarpa i.e. black chokeberry is expected to account for relatively high revenue share than other two chokeberries in the global aronia berries market. Among the distribution channel segments, hypermarket/supermarket segment is expected to dominate the global aronia berries market.

Whereas, e-Commerce segment is expected to expand at a significant growth rate over the forecast period in global aronia berries market. On the basis of product form, value added product segment including juice concentrates, chews, shots, capsules, etc. is expected to expand at a significant growth rate the global aronia berries market over the forecast period, attributed to changing lifestyle of the consumers in the region and high demand for convenience food with high health benefits. Among the source segments, conventional segment is expected to dominate the global aronia berries market. Whereas, organic segment is expected to expand at a significant growth rate over the forecast period in global aronia berries market

Based on the product type, the global aronia berries market is segmented into:

• Aronia prunifolia (Purple Chokeberry)
• Aronia melanocarpa (Black Chokeberry)
• Aronia arbutifolia (Red Chokeberry)

Based on the distribution channel, the global aronia berries market is segmented into:

• Hypermarket/ Supermarket
• Convenience Stores
• E-Commerce

Based on the form, the global aronia berries market is segmented into:

• Whole Berries
• Value Added Products

Based on the source, the global aronia berries market is segmented into:

• Conventional
• Organic

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Report Highlights:

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

About 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, the global financial capital, and has delivery centers in the 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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Rising prevalence of antimicrobial and antiviral cleaning solutions coupled with adoption of advanced technologies in car care products are projected to shape the growth of antimicrobial car care products market. A new Future Market Insights (FMI) study suggests that the global antimicrobial car care market is set to expand at a robust CAGR of 7.3% during the forecast period of 2022-2030.

The ongoing COVID-19 pandemic is anticipated to have a significant impact on the demand-side trend of antimicrobial car care products in the near future. The pandemic has highlighted the importance of maintaining hygienic and sanitized environments to stay protected from deadly viral infections. This elevated awareness will boost the usage of antimicrobial car care products over the following decade.

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Onset of COVID-19 pandemic is anticipated to play a significant role in driving the need for sanitizing and cleaning solution in residential and commercial spaces as well as in public and private commute. The escalated sense of prevention of infectious diseases will steer the adoption of antimicrobial car care products.

Key Takeaways from Antimicrobial Car Care Products Market Study

• Awareness among consumers regarding health and hygiene due to increasing cases of nosocomial infections and outbreaks of life threatening diseases is projected to propel the demand for antimicrobial car care products through 2030.
• Advancements in car care technologies along with innovations such as bio-based, and anti-infectious cleaning solutions are likely to maintain the positive trend of the market.
• Widespread adoption, easy availability, low cost and product awareness of fabric and surface cleaners make them the most sought-after product type.
• Expanding passenger car fleet continues to attract significant attention of stakeholders.
• Strong foothold of automotive industry as well as history of epidemics in the region are driving the antimicrobial car care products market in East Asia.

Antimicrobial Car Care Products Market: Participant Insights

Key manufacturers in the antimicrobial car care products market, like Biocote Ltd, 3M Company, Microban International, Sanitized AG, Biopledge LLC are focused on strengthening their product portfolio and expanding their manufacturing capabilities to keep up with increasing demand in the market.

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Antimicrobial Car Care Products Market Taxonomy

Type

• Fabric & Surface Cleaners
• Foam Cleaners
• Coating Shield

Vehicle Type

• Passenger Cars
• Commercial Cars

Sales Channel

• Online
• Offline

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• MEA

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Know More About Antimicrobial Car Care Products Market

A new market research report published by Future Market Insights (FMI) on the global antimicrobial car care products Market report provides in-depth insights into the market demand trends and assessment of opportunities during the forecast period. The report analyses the antimicrobial car care products market through four different segments- type, vehicle, sales channel, and region. The antimicrobial car care products report also offers detailed analysis of pricing by different type, COVID-19 impact on market growth and projected demand growth over the forecast period.

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Colloidal silica is finding immense use in the electronics & semiconductor industry, wherein, it plays a critical role in the production of ultra-flat, uniform, and low detection surfaces for semiconductors. Moreover, colloidal silica is used as a rough surface remover and as a polishing additive. It is extensively used for electropolishing to remove microscopic layers of metal particles from surfaces. In addition, the growing electronics & semiconductor industry in South and East Asia is expected to drive the colloidal silica market over the decade ahead. Paints & coatings and paper & pulp industries are also expected to pave the way for market growth in the coming years.

Sales in the global colloidal silica market are slated to top US$ 252.0 Mn in 2022. With a favourable demand outlook, the market is projected to expand at a steady 3.9% CAGR, reaching US$ 342.3 Mn by 2030.

A significant portion of the revenue of the colloidal silica market is realized from the electronics & semiconductors industry. However, this industry is likely to witness a decline in the near term due to the coronavirus (COVID-19) pandemic that is spreading across the world. The onset of the pandemic has resulted in travel bans and isolations, uncertainties in the stock market, and massive disruption of the supply chain. As such, the pandemic would adversely impact the global electronics & semiconductor industry, and, in turn, hamper the growth of the global colloidal silica market.

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“Colloidal silica is gaining prominence as a chemical excipient in the pharmaceutical sector for synthesizing tablets such as paracetamol and animal medicines. Players in the colloidal silica market targeting pharmaceutical applications will be better placed for outsized returns.”

Key Takeaways from Global Colloidal Silica Market Study

• Acidic colloidal silica would remain sought-after, owing to its increasing application in electronics and semiconductors.
• In terms of consumption, Europe and North America are prominent regions; countries such as Belgium, the US, the Netherlands, Spain, Germany, France, and Italy are prime consumers of colloidal silica.
• The electronics & semiconductor industry would be the key revenue generator in the colloidal silica market, while the paints & coatings industry is offering growth avenues.
• Top-line growth of the global chemical industry is expected to augur well for the colloidal silica market.
• Colloidal silica is extensively used for investment casting as a slurry on base coatings such as zircon flour, and zircon sand, thus, offering further impetus to market growth over the coming years.

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Competitive Landscape

Players such as Nouryon Holding BV, Evonik Industries AG, Cabot Corporation, W. R. Grace & Co., Ecolab Inc., Merck Global, and The Dow Chemical Company have invested strategically in the colloidal silica market in the recent past, suggesting that, major manufactures are keeping tabs on the market, as it holds a lot of potential in the coming years. In addition, manufacturers such as Nouryon Holding BV and Evonik Industries AG are strategically increasing their market footprint by expanding their customer base in other regions. R&D, coupled with expansion of production capacity and footprint, remains the differentiating strategy followed by colloidal silica manufacturers to enhance productivity and capture new market opportunities.

East Asia to Offer Lucrative Growth Opportunities

East Asia is anticipated to hold a prominent share in the global colloidal silica market, owing to flourishing electronics and semiconductor industries in the region. Manufacturers are focusing on developing products as per end-use applications. Colloidal silica is also significantly used in the production of water-based coatings. Manufactures are thus tapping this opportunity, given increasing preference to water-based solvents in the paints & coatings industry.

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Looking for More Information?

The report on the colloidal silica market, published by Future Market Insights, brings to the fore a pin-point analysis of the market, and offers comprehensive information with historical demand data of 2015-2021 and forecast statistics for 2022-2030. The study offers insightful information on the global colloidal silica market based on various categories – product type and application, across seven regions. This study highlights key players who are well-known market vendors, and have proven themselves as key shareholders in the global colloidal silica market.

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Global chlorine disinfectant market revenues are poised to reach at over US$ 4 Bn by the end of forecast period, 2020 – 2030. Heightening concerns regarding the novel coronavirus (COVID-19) pandemic are triggering the need to maintain hygiene in healthcare and residential facilities. In line with this, global sales of chlorine disinfectant are set to soar promisingly in near term, as projected by a new Future Market Insights (FMI) study.

The survival period of SARS-COV-2 – virus that causes COVID-19 – on inanimate objects differ with various factors including, temperature, and humidity. This accents for the need of frequent cleaning and disinfection of surfaces, thereby, enabling broader usage of chlorine disinfectants.

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Key Takeaways of Chlorine Disinfectant Market Study

• Increasing emphasis on cleanliness in hospitals is boosting the demand for chlorine disinfectants in hospital applications. Infections are a significant threat in hospitals and chlorine-based cleansers disinfect work surfaces and equipment, thereby, preventing the spread of contagious diseases.
• Chlorine disinfectants are gaining significant traction in industrial wastewater treatment applications. Chlorine can be used in wastewater disinfection either as an elemental chlorine (gas) or as a chlorinated compound such as liquid sodium hypochlorite solution or solid calcium hypochlorite. Chlorine disinfectants play a vital role in the industrial wastewater treatment process.
• Textile bleaching is anticipated to emerge as a significant application of chlorine disinfectants during the forecast period, owing to their superior bleaching property such as liquid chlorine bleaches are highly effective at whitening fabrics and also provide germicidal activity at usage concentrations.
• The chlorine disinfectant market in South Asia including, India, and ASEAN countries is witnessing notable growth recently, attributable to growth of end-use industries such as healthcare, and water treatment in this region.

Governments in several regions are highly focused on improving municipal water facilities in urban and rural areas. Such developments for industrial and domestic/ municipal water treatment are expected to create high demand for water & wastewater treatment chemicals such as chlorine disinfectants over the forecast period.

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Market Landscape: Moderately Fragmented

The global chlorine disinfectant market is moderately fragmented, owing to presence of several international and domestic payers in the market. Top ten established players account for over a third of total supply. Key players such as 3M Company, Procter and Gamble, Reckitt Benckiser, Clorox Company, Ecolab, Hind Pharma, Chemtex Speciality Ltd, Nyco Products Company, Delux Chemicals, Achlor Chemical Ltd. and others are also focusing on increasing their presence in domestic market. Leading manufacturers are laying emphasis on strengthening their partnerships with end users.

What Does the Future Hold?

The global Chlorine Disinfectant market is anticipated to grow at a moderate rate over the forecast period on account of its increasing demand in water treatment industry in emerging countries. Furthermore, increasing awareness regarding the cleanliness especially in hospitals where Infections are a significant threat in both developed and emerging countries is further expected to propel market growth.

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Learn More About the Report Coverage

Future Market Insights has published a market research report on the Chlorine Disinfectant market that contains global industry analysis of 2015-2019 and opportunity assessment for 2020-2030. The report provides insightful analysis of the Chlorine Disinfectant market through four different segments- grade, application, end-use, and region. The Chlorine Disinfectant market report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, along with a detailed overview of the parent market.

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Global glacial acetic acid market is poised for strong growth at approximately 6.5% CAGR during the projection period (2019-2029). Multifaceted applications such as vinegar, paints, pharmaceuticals, inks, and in food & beverages industry are propelling the growth of glacial acetic acid market. Food preservation segment in particular is the growth engine of the market, says a recent Future Market Insights (FMI) report.

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Key Takeaways of Glacial Acetic Acid Market Study

• Acetic anhydride production necessitates the demand for glacial acetic acid through the forecast period.
• Raw materials of glacial acetic acid have relatively low price point thereby supplementing the market growth.
• Variegated household applications are bolstering the market growth.
• Gains in glacial acetic acid market remain concentrated in Asia Pacific.

Key players must enhance the sustainability aspect of their business and diversify their product offerings to gain stronghold in the global glacial acetic acid market.

Asia Pacific Acquires 69.8% Share in Glacial Acetic Acid Market

Rising economic wealth in emerging Asian economies is bolstering the market growth in the region. Shifting consumer preferences and lifestyle factors are shaping up the regional glacial acetic acid market as well. Rising infrastructural activities accentuate the demand for glacial acetic acid. On that premise, Asia Pacific glacial acetic acid market constitutes 69.8% revenue share in the market.

Further, established end-use industries in developed economies such as United States are driving the market growth in North America.  The regional market is projected to experience prolific growth during the forecast period. The predominant industry driving the consumption of glacial acetic acid in the region is oil and gas exploration industry.

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Industry leaders Rely on Multipronged Strategies for Competitive Edge

Some of the prominent market players featured in this FMI report include, but are not limited to, Hawkins, Inc., MP Biomedicals, BASF SE, OM Group, Inc., Eastman Chemical Company, Celanese Corporation, Innova Corporate (India), Spectrum Chemical Mfg. Corp., British Petroleum, China Great Wall Energy Co, Sinopec Great Wall Energy and Chemical, and Reliance.

Major players are scrutinizing their sales execution strategies and working on efficient pricing to foster their market position. Top performers in the global glacial acetic acid market are focused on gaining attractive revenues through innovation and sustainable transition.

Will the COVID-19 Pandemic Hold an Abrupt Impact on Market?

Although manufacturing and supply sides of the glacial acetic acid market will be facing the heat of global coronavirus outbreak, the market will not be facing abrupt impacts as it falls under the basic chemicals category, i.e. acetic acid. Owing to its applicability, glacial acetic acid is often placed at the beginning of value chains. Looking at the dependence on China for production of basic and allied chemicals, the industry players now ought to reduce their reliance on Chinese markets. FMI’s analysis reveals that a visible shift from China to India in terms of glacial acetic acid manufacturing will be observed in the immediate future, marking an important trend in the global market.

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More about the Report

FMI’s study offers an in-depth market forecast and analysis on the global glacial acetic acid market. The major categories encompassed by the report include grade (food grade, industrial grade, and pharmaceutical grade), end-use application (Food additive, Solvent, Photographic Chemical, Paints & Coating, Textile, Cosmetics, and Pharmaceutical Intermediate) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).

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Chitosan is a highly sought-after for application in the food and beverages, pharmaceutical, and other sectors due to its biocompatibility, low toxicity, and high percentage of amino groups that confer unique functionalities, such as antimicrobial activity and wound healing acceleration.

According to a study by Future Market Insights (FMI), the chitosan market is forecast to reach a valuation of US$ 1.03 Bn by 2021. Growth will continue especially in response to the rising demand for non-GMO and clean label ingredients within the food sector.

As per the study, sales within dietary supplements segment will amplify at an impressive pace, accounting for over 36% of the market in 2021. The trend will continue well into the forthcoming years, as consumers from around the world show greater inclination towards a healthy lifestyle.

Consumption of chitosan in powder form is more than in liquid form. The increasing applications of powder chitosan in dietary supplements, cosmetics, and other sectors will seal dominance of powder chitosan in the market.

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Key Takeaways from the Chitosan Market Study

• The global chitosan market is expected to rise at 14.3% CAGR between 2021 and 2031
• Increasing demand for dietary supplements will spur sales in the U.S., sealing its dominance in the North America market with a share of above 83% in 2021
• Increasing focus on health and wellness will drive sales in the U.K., enabling it to register y-o-y growth at 10.3% in 2021
• Increasing application in pharmaceutical sector will be a chief growth driver in Germany and France
• Increasing focus on Non-GMO and clean label ingredients will seal Japan’s dominance in the East Asia market

“There is increasing focus on product launches in the global market. This trend will continue as competition gets fiercer in the coming years. Consequently, the market will exhibit increasing investment in research and development,” said a lead analyst at FMI

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Increasing Application in Sports Nutrition Driving Growth

Sports nutrition products are becoming more popular, particularly among athletes and those who participate in demanding physical activity. Some of the important causes propelling the sports nutrition sector are growing focus on being in shape and maintaining a healthy body, as well as greater involvement in fitness, health clubs, sports clubs, and gyms.

Due to an increase in health concerns and changes in lifestyle, fitness centers and health clubs have seen impressive growth in recent years. With the rise in awareness regarding health and the need for proper dietary content in food, the market for health & fitness nutrition products infused with natural ingredients like chitosan has grown.

Who is winning?

Some of the leading companies offering chitosan are Agratech (KYTOSAN USA, LLC), Austanz Chitin Pty Ltd., CarboMer, Inc., Golden-Shell Pharamceuticals Co. Ltd, Heppe Medical Chitosan GmbH, KIMICA Corporation, Kitozyme, LLC., Kraeber & Co. GmbH, Meron Group, Qingdao Haijia Biology and Technology Co. Ltd, Tidal Vision Inc., Chitolytic, Marshall Marine Products, Zhejiang Aoxing Biotechnology Co. Ltd.,

Chitosan manufacturers are focusing on introducing innovative products in the market. The manufacturers are also focusing on research & development activity to cater the emerging demand from customer in the established and emerging markets.

Get Valuable Insights into Chitosan Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Chitosan market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Chitosan market based on form (liquid and powder), by source (shrimp, crab and lobster), and by end use (food additives, dietary supplements, pharmaceuticals & biomedical and cosmetics & personal care) across seven major regions.

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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.

Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
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Growing utilization of propanol as a direct solvent in paints and coatings, household & industrial cleaners, and others is expected to pave the way for its robust sales during the projected timeline. This is the main factor as to why the global propanol market is estimated at US$ 2.8 billion in 2019, and is projected to experience steady growth during the forecast period of 2019-2029. East Asia will see the most opportunities for manufacturers over the period of forecast, with pharma- and electronic-grade isopropanol experiencing increasing sales.

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Key Takeaways from Global Propanol Market

• In the coming years, as compared to isopropanol, n-propanol is expected to register a slight increase in demand, owing to new laws and regulations regarding the usage of low-VOC-emitting chemicals in pharmaceutical and food processing applications.
• Pharmaceutical and electronic-grade isopropanol is likely to be sought after in the future, owing to the growth of pharma and semiconductor industries. Worldwide, propanol used as a direct solvent across various industries is projected to account for a prominent share in the global propanol market.
• Growth prospects are high in emerging markets such as India, China, and Mexico. Companies are focusing on different strategies in order to ensure good presence in both, emerging and matured markets. Since there are limited opportunities for propanol manufacturers in developed regions, manufacturers in the propanol market are focusing on emerging markets to capture a larger share in the landscape.

 “Volatility in petroleum feedstock prices as well as propylene prices may impact the future price of propanol as well as market growth. Increasing cost of propylene is encouraging manufacturers to adopt acetone-based isopropanol production, especially in Asian countries. Acetone-based propanol production increased from 2% to 25% from 2002 to 2018 in Asian countries,” says an FMI analyst.

The implementation of new technologies or methods over conventional methods, and production capacity expansion and footprint expansion, remain the key strategies followed by propanol manufacturers to enhance productivity and capture new opportunities in the propanol market.

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East Asia Set to Become Self-sufficient in Propanol

In the year 2012, the capacity base of propanol in East Asia surpassed that of North America, primarily following the start of several new facilities in China and South Korea. During the period of 2010-2018, massive addition in capacity has made China a prominent producer in Asia Pacific. In China, future import volumes are expected to decline as the country moves towards self-sufficiency. Globally, oversupply of propanol has constricted its growth and demand. At present, the total global production capacity of propanol stands at around 3,400 KT, with approximately 60% utilization rate.

Looking for More Information?

A new market report on propanol published by Future Market Insights brings to the fore a pin-point analysis of the propanol market, and offers comprehensive information with historical demand data for 2014-2018 and forecast statistics for 2019-2029. The study offers insightful information on the global propanol market based on various categories – type (n-propanol, isopropanol), application (solvents, chemical intermediates, pharmaceuticals, household & personal care products, and others), across seven regions. This study highlights key market players who are well-known vendors and have proven themselves as key shareholders in the global propanol market. Some of the propanol market players included in the report are BASF SE, Royal Dutch Shell Plc, ExxonMobil Corporation, Sasol, LG Chem Ltd., and Eastman Chemical Company, among others.

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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.

Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Website: https://www.futuremarketinsights.com

 

Soft magnetic composites (SMCs) are used extensively in the automotive industry for their ferromagnetic properties. Majorly driven by this, global soft magnetic composites market is projected to exhibit a robust CAGR during the forecast period of 2022-2029, reaching a value of US$ 80 Bn in 2029. Correct SMC combination provides a technology that consumes less energy, is optimally efficient, and capable of use in extreme frequencies and temperatures.

High demand is witnessed from the automotive industry for electronic components such as motors, inductors, and other electronic machines that enhance reliability and efficiency. Moreover, the industry demands space reductions of components such as inductors that capture a lot of space. As a result, efforts to attain balance between working efficiency and smaller dimensions, have propelled the use of soft magnetic materials such as soft magnetic composites.

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Key Takeaways

• Demand for electrical steel segment is expected to grow at a healthier rate. Its market share is anticipated to increase owing to application in different end-use industries, along with cost-effective nature of the material.
• 5P type, though most expensive, is prominently used in the power generation industry. As the demand for this segment is increasing, SMC manufacturers are under high pressure to reduce its price.
• The Asia Pacific region holds a prominent share of soft magnetic composites market owing to the constantly increasing presence of strong electronic and automotive sector in countries such as China, India, ASEAN Countries, and Japan.
• East Asia is projected to be a hub for electronic industry, countries such as China, are anticipated to be at the epicenter of opportunities in the electronic industry.
• Soft magnetic composites are increasingly gaining traction within the 3D-printing technology space.

SMC are advantageous as they offer the possibility of developing three dimensional shapes with complex geometry in extreme conditions, along with being cost effective and energy efficient. Moreover, acceptance of new technologies in automotive and consumer (electronics) goods industry such as 3D printing has paved a path of new opportunities for soft magnetic composites market.

Market Landscape Moving towards Consolidation

The soft magnetic composites market is highly consolidated owing to the prominence of handful of players with extensive R&D capabilities. Key manufacturers in the tier I such as GKN Powder Metallurgy (Melrose PLC) and Hitachi Metals Ltd. are pushing towards consolidation by opting for growth strategies such as acquisitions, joint ventures, and others.

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Soft Magnetic Composites Market Taxonomy

Material

• Electrical Steel
• Soft Ferrite
• Iron Powder

End Use

• Automotive
• Industrial Machinery & Equipment
• Consumer Goods
• Power Generation
• Others

Region

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

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Know More About Report Inclusions

Future Market Insights has published a market research report on the soft magnetic composites market that contains global industry analysis for 2014–2021 and opportunity assessment for 2022–2029. The report provides insightful analysis of the Soft magnetic composites market through three different segments, namely material, type, application, end-use industry, and region. The soft magnetic composites market report also provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world along with a detailed overview of the parent market.

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