Global Document Capture Software Market Size and Shares to Grow at a CAGR Value of 8.6% By 2033 | Future Market Insights, Inc.

The document capture software market is forecasted to expand at 8.6% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of USD 8,785.9 million in 2023. The market is expected to reach USD 20,109.8 million by 2033.

Many organizations across the globe are embracing eminently secure, collaborative, and integrated cloud-assisted systems in an attempt to permeate the idea of digital business. In today’s technologically driven market space, where industries can be seen aggressively shifting gears toward digital documentation. Thus, giving a boost to the document capture software as a viable solution.

In the past few years, SMEs commenced to strongly invest in big data analytics and the next-gen cloud and hybrid-oriented platforms. This is augmenting the demand for document capture software.

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Enterprises have been effortlessly riding the change in the wave so far. This can be credited to the presence of ‘Platform as a Service’ tools and cloud-based utilities, which have been fueling the ‘paperless’ journey.

The contracting workforce and several issues related to managing paper records are some gripping factors affecting organizations. In response, organizations are leveraging cloud-based services, consequently enhancing the scope of services based on Software-as-a-Service that enables pay-per-use and easy accessibility.

Despite cloud computing’s strong impact on document capture software solutions, manufacturers are inclined toward concentrating their efforts on ‘mobile-friendly’ advancements. Constantly on-the-move professionals and uninterrupted access to important documents and files are key factors behind this shift in focus.

Market vendors can be seen leaving behind a ‘one size fits all’ approach and embracing personalized services and products that are within the limited budget of small businesses.

Small and mid-sized enterprises (SMEs) have been far behind in enjoying the new technologies, as much as large enterprises have. However, many governments are undertaking initiatives to boost their capacity to gather technology and management skills. This is expected to enhance the SME’s growth trajectory going forward.

Key players are also concentrating on bettering the subscription models that give access to SMEs for document management solutions, without having to invest in any infrastructure.

Top Key Highlights of the Document Capture Software Market:  

  • North America region shines bright in the overall market, contributing generously to the global market with a market share of 31.2%.
  • Within North America, the United States is projected to capture a maximum market share of more than 18.2% of the global market in the coming years.
  • Europe market is the next-top market internationally. The region clutched a market share of 25.5% in 2022. Germany, in the same year, shared a 9.2% value share.
  • The United Kingdom is projected to pick up the pace of 9.6% CAGR over the forecast period.
  • Within Asia Pacific, India is expected to gleam, expanding at a CAGR of 12.3%.
  • China, as per FMI’s estimation, is forecasted to record a CAGR of 9.3%.
  • Based on the solution, multiple-channel document capture software is expected to obtain more than 34.5% in 2023.
  • Based on industry, the banking segment is expected to share 18.3% from 2023 to 2033.

Key Players

  • Adobe Systems Software Ltd.
  • ABBYY Software
  • Artsyl Technologies Inc
  • Canon Inc.
  • IBM Corporation
  • Others

Innovation Watch: Key Developments in the Market

  • In August 2018, Xerox Corp. introduced Xerox DocuMate 6710, which is a new Xerox production scanner that offers scanning innovation. The solution is designed to be used by industries like education, healthcare, the legal world, etc. that still use large quantities of documents.
  • In May 2023, Join, which is a collaborative project delivery platform released an Autodesk construction cloud integration to simplify document management and collaboration.

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Key Segments Covered in Document Capture Software Industry Report

By Deployment:

  • Cloud-based
  • On-premise
  • Hybrid

By Organization Size:

  • Small and Medium Enterprises
  • Large Enterprises

By Solution:

  • Multiple-channel
  • Cognitive
  • Mobile
  • Others

By Industry:

  • Retail
  • Banking
  • Financial Services & Insurance
  • Telecom & IT
  • Healthcare
  • Transportation & Logistics
  • Energy
  • Other Industries

By Region:

  • North America
  • Europe
  • The Asia Pacific
  • The Middle East & Africa
  • South America

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.

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Global Cancer Tissue Diagnostic Market Set for Significant Growth: Projected to Reach USD 23,516.2 Million by 2034

In a recent market analysis, the global cancer tissue diagnostic market is forecasted to experience substantial growth, with projections indicating an increase from USD 15,302.2 million in 2024 to an impressive USD 23,516.2 million by 2034. This growth represents a robust Compound Annual Growth Rate (CAGR) of 4.5% throughout the forecast period.

The expansion of the cancer tissue diagnostic market is driven by several key factors. The rising incidence of cancer cases worldwide has intensified the demand for effective diagnostic solutions. Advances in diagnostic technologies and methodologies are playing a crucial role in this growth, enhancing diagnostic accuracy and enabling earlier detection of cancer.

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Rising prevalence of cancer across the globe is contributing to the growing demand for cancer tissue diagnostics kits in the market. Furthermore, increasing number of clinical facilities focused on processing large volumes of plasma and generating high concentrations of eluates contributes to the market’s growth.

Leading companies in the field of cancer tissue diagnostics are emphasizing research and development of innovative products. Research and development investments aim to expand their product portfolios and mark their global footprint.

Cancer remains the deadliest global illness despite advancements in detection and treatment. Challenges include high false-positive rates and treatment uncertainty. Medical professionals and researchers are exploring ways to detect and cure cancer using advanced technologies from fields outside medicine, such as artificial intelligence.

Key Takeaways from the Market Study:

  • By product type, molecular diagnostic test kits held the highest share of 42.7% in 2023 in the market.
  • In 2023, by cancer type, the breast cancer segment held a substantial share of 22.7%. 
  • The United States is expected to surge at a CAGR of 3.1% by 2034.
  • China is projected to rise at 6.8% CAGR by 2034.
  • Based on cancer type, the breast cancer segment is expected to rise at 5.1% CAGR by 2034.

“Private diagnostic centers worldwide are expanding due to rising demand for imaging and increasing workload on public hospitals. They are also working on liquid biopsy and animal cancer therapies, offering profitable growth prospects for global cancer diagnostic market,”- says Future Market Insights (FMI) lead analyst.

Competitive Landscape:

Expansion of product portfolios by launching technologically advanced products is a key strategy of the leading companies and manufacturers. Key companies focus on collaborations to compete with competitors in the market.

For instance, 

  • In March 2022, Thermo Fisher Scientific launched the CE-IVD-marked next-generation sequencing instrument for clinical labs.
  • In March 2021, F. Hoffmann-La Roche Ltd. merged with GenMark Diagnostics, Inc., to access a novel technology for testing a wide range of pathogens with one patient sample.

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Key Companies Profiled:

  • Abbott Laboratories
  • F.Hoffmann-La Roche Ltd.
  • Thermo Fisher Scientific Inc.
  • Merck KGaA (Sigma-Aldrich Co., LLC)
  • Danaher Corporation (Cepheid)
  • Agilent Technologies, Inc.
  • Quest Diagnostics Incorporated
  • Bio Rad Laboratories Inc.
  • QIAGEN
  • Illumina, Inc.
  • Enzo Life Sciences, Inc.
  • BioGenex
  • Bio SB
  • Nanoprobes, Inc.
  • Creative Biolabs.
  • Takara Bio Inc.

Cancer Tissue Diagnostics Industry Segmentation by Category:

By Product:

  • In Situ Hybridization (ISH) Test Kits
    • Fluorescent In Situ Hybridization (FISH) Kits
    • Chromogenic In Situ Hybridization (CISH) Kits
  • Molecular Diagnostics Test Kits
    • Polymerase Chain Reaction (PCR) Kits
    • Next-generation Sequencing (NGS) Kits
  • Companion Diagnostics Test Kits
    • Genetic Testing Kits
    • Biomarker Testing Kits
  • Immunohistochemistry (IHC) Test Kits

By Cancer:

  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Prostate Cancer
  • Ovarian Cancer
  • Hematologic Cancer
  • Liver Cancer
  • Pancreatic Cancer
  • Skin Cancer (Melanoma)
  • Others

By End-user:

  • Hospitals
  • Specialty Centers
  • Long-term Care Centers
  • Diagnostic Centers
  • Academic & Research Institutes

By Region:

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

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.

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Global DC and PKI Market is Expected to Generate USD 56,902.1 Million by 2033: Future Market Insights, Inc.

The global DC and PKI market size is slated to gain swift growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of USD 8,027.9 million in 2023. It is anticipated to achieve a valuation of USD 56,902.1 million by 2033. The market is anticipated to thrive at an astronomical CAGR of 21.6% from 2023 to 2033.

Organizations are stressing data security increasingly due to the rise in cyber threats. Digital certificates that enable secure communication, authentication, and encryption may be issued, managed, and revoked using PKI’s safe architecture. For safe online transactions, secure communications, and identity verification, PKI assures the integrity, secrecy, and authenticity of digital transactions.

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The increased need for secure digital transactions and the privacy of sensitive data has led to an expansion of the PKI industry. To meet their demands for data storage, processing, and analysis, organizations pursuing digital transformation projects and utilizing Internet of Things technologies need a reliable data centre infrastructure.

The growth of the DC and PKI industries is being fueled by technological developments including software-defined data centers (SDDC), hyper-converged infrastructure (HCI), and better encryption techniques. These developments raise the data center infrastructure and PKI solutions’ efficacy, scalability, and security, increasing their allure for businesses looking to streamline operations and safeguard their digital assets.

The adoption of cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and blockchain is leading the way in the Asia Pacific area. To manage the enormous data volumes, provide secure communication, and allow trust and authentication in digital transactions, these technologies need a strong data center architecture and PKI solutions.

Key Takeaways from DC and PKI Market:

  • The global DC and PKI industry size developed at a CAGR of 19.5% from 2018 to 2022.
  • In 2018, the global market size stood at US$ 3,275.1 million.
  • The market size stood at US$ 6,689.9 million in 2022.
  • In 2022, the hardware segment captured a 59.3% share of the global market.
  • In 2022, the on-premise deployment segment garnered a 54.4% share of the global market.
  • In 2022, The United States captured an 18.1% share of the global market.
  • In 2022, China secured a 20.8% share of the global market.
  • In 2022, India recorded a 25.2% share of the global market.
  • In 2022, Japan captured a 5.4% share of the global market.

Key Players Working in the Global Market

  • GMO GlobalSign Inc.
  • GoDaddy Group
  • Version Inc.
  • Thales Group
  • Comodo Group Inc.
  • Signix Inc.

Recent Developments Observed by FMI:

  • In May 2021, Telecom Infra Project, or TIP, chose DigCert to supply PKI-based security services for its open Wi-Fi networks. The DigiCert ONE platform-based PKI for the Internet of Things is an automated digital certificate management system with great scalability.
  • In May 2021, ManageEngine released additional capabilities for their Key Manager Plus product, which manages digital certificates with end-to-end encryption. Active Directory PKI infrastructure or AD synchronization for multiple domains have both been added by the new features.
  • To promote its Certificate Lifecycle Management Solutions in the nation, AppViewX and Ingram Micro of the United States teamed together in May 2021. Along with this development, the AppliedXpert channel partner program was also introduced.

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DC and PKI Market Segmentation

By Solution:

  • Hardware
  • Software

By Deployment Model:

  • Cloud-based
  • On-premise

By Application:

  • Banking, Financial Services, and Insurance (BFSI)
  • Real Estate
  • Education and Research
  • Healthcare and Life Sciences
  • Human Resources
  • Legal
  • Manufacturing
  • Government and Defense
  • Others

By Region:

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

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.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Robust Market Expansion for Hydroxyapatite: Projected Growth at 7.8% CAGR Through 2033

 

The global hydroxyapatite market, valued at USD 501.8 million in 2023. This growth is driven by increasing demand from the healthcare industry, which is expected to propel the market at a robust compound annual growth rate (CAGR) of 7.8% from 2023 to 2033. By the end of this period, the market is anticipated to surpass USD 1,063.5 million, reflecting a significant expansion and highlighting hydroxyapatite’s growing importance in medical applications.

The market is projected to observe heightened demand for dental care, orthopedic implants, and plastic surgery. The expansion of the market is credited to the surged demand for medical implants, urbanization, and robust industrialization. Apart from this, factors, like heightened consumer awareness and surged interest in biomaterial for deployment in prosthetic applications, are expected to augment market growth.

Hydroxyapatite is extensively deployed in biomedical applications to form/coat implants or prostheses and as a filling material. In addition, the surging medical expenses consistent throughout developed economies are further fueling market expansion. As per the University of Toronto’s published journal, Canada devotes 11.1% of its GDP to medical expenses in contrast to other high-income countries.

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The surging prevalence of osteoporosis, arthritis, and other joints related products is projected to generate demand for orthopedic devices. As per the latest data released by the Global Burden of Disease (GBD), nearly 1.71 billion of the population is inflicted by musculoskeletal conditions. Some of the commonly witnessed musculoskeletal conditions include psoriatic arthritis, osteopenia, osteoarthritis, and other joint conditions.

The market is projected to be filled with lucrative opportunities due to the advent of hydroxyapatite ceramics. For example, Bio-Rad Laboratories, Inc., which is a leading marketer of clinical diagnostic products and life science research, revealed the introduction of two new chromatography media for process protein purification, namely Nuvia HP-Q Resin and CHT Ceramic Hydroxyapatite XT Media in September 2018. The robust popularity of micro-sized hydroxyapatite is projected to further propel market development.

Geographically, North America is projected to dominate the market globally. Upsurge in investments, dense count of top leading companies, and superior healthcare infrastructure are a few factors that are backing the regional growth.

Top Highlights from the FMI’s Analysis of the Hydroxyapatite Market: 

  • The United States hydroxyapatite industry is projected to acquire a 26.9% market share in 2023.
  • By the end of 2023, the German market is expected to contribute 16.8% value share in the global market.
  • The Japan hydroxyapatite industry is projected to acquire a 5.5% market share in the global market in 2023.
  • The Australian hydroxyapatite industry is expected to support a 2.4% market share in 2023.
  • The China market is expected to showcase a CAGR of 8.1% over the forecast period.
  • The Indian market is projected to exhibit a 7.2% CAGR in the upcoming years.
  • The United Kingdom hydroxyapatite industry is anticipated to expand at a CAGR of 3.8% in the next ten years.
  • Based on grade, the medical grade segment is projected to acquire a 57.3% market share in 2023.
  • Under the application category, the dental segment is expected to obtain a maximum share of 40.2% in 2023.

Key Companies Profiled in the Hydroxyapatite Industry

  • FLUIDINOVA
  • SofSera Corporation
  • Berkeley Advanced Biomaterials
  • Taihei Chemical Industrial Co. Ltd.
  • SigmaGraft
  • CAM Bioceramics
  • APS Materials, Inc.
  • Zimmer Biomet
  • Bioceramics
  • Granulab (M) Sdn Bhd
  • Merz Biomaterials
  • Sangi Co., Ltd.

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Hydroxyapatite Market Segmentation

By Grade:

  • Medical Grade
  • Cosmetics Grade
  • Research Grade

By Application:

  • Dental
  • Orthopedic
  • Biochemical Research
  • Surgical
  • Bioceramic Coatings
  • Food
  • Medicine
  • Others

By Region:

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

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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T: +1-845-579-5705
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5G IoT Market is Predicted to Reach USD 55.1 Billion, Globally by 2033 at 31.3% CAGR: Future Market Insights, Inc.

The 5G IoT market is estimated to capture a valuation of USD 3.6 billion in 2023 and is projected to reach USD 55.1 billion by 2033. The market is estimated to secure a CAGR of 31.1% from 2023 to 2033.

The 5G IoT market refers to the ecosystem of products, services, and technologies that utilize fifth-generation (5G) wireless networks to connect and manage Internet of Things (IoT) devices. This market encompasses various sectors, including telecommunications, healthcare, automotive, manufacturing, smart cities, and more, leveraging the high speed, low latency, and massive connectivity capabilities of 5G technology.

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The Popularity of 5G IoT among Consumers Drives the Global Market.

The popularity of 5G IoT is notably growing among consumers, driving the global market. The increasing demand for enhanced connectivity with advanced technologies is expanding the market revenue.

A few of the factors contributing the global market growth are as follows:

Enhanced Connectivity

The demand for 5G IoT is significantly growing due to offering fast data connection, low latency, and enhanced capacity. It provides seamless connectivity, transmits real-time data, and efficiency. Consumers are widely increasing the adoption of these technologies to work effectively and do their daily tasks quickly.

Expanding Internet of Things

Consumers are increasingly adopting smart devices, connected cars, smart homes, and wearable devices integrated with the Internet of Things. These essential devices are reliable, connected to high-speed internet, and work smoothly. Consumers are attracted to these devices and are expanding the Internet of Things.

Industrial Application

End-use industries such as healthcare, agriculture, automation, transportation, and manufacturing drive the global market. These industries are increasing the adoption of 5G IoT to improve automation, productivity, and efficiency to reduce costs.

Improved User Experience

The adoption of 5G IoT offers seamless connectivity and better consumer experiences. Consumers enhance their experience through online streaming, downloading, fast connectivity, and connecting devices. It results in satisfying consumers’ desires.

Growing Ecosystem and Innovation

The popularity of 5G IoT is significantly growing among device manufacturers, technology providers, and service providers. The rising innovations, launching new products, and deploying the Internet of Things continue to propel the global market.

Key Takeaways:

  • The 5G IoT market is registered to capture a valuation of USD 55.1 billion with a CAGR of 31.1% during the forecast period.
  • Historically, the market secured a valuation of USD 998.5 million with a CAGR of 29.2% between 2018 and 2022.
  • The United States is leading the global market by securing a maximum share of 15.4% by 2033.
  • With a share of 10.2%, Germany is significantly driving the global market during the forecast period.
  • Japan is estimated to register a share of 5.4% in the global market by 2033.

Key Players are Adding Values through their Marketing Tactics in the Market

The market is consolidated by the essential key players that invest their amount in research and development activities. These players are taking efforts to carry out better and improve products through their research activities to drive the global market.

Key players are focused on observing consumers’ requirements and offering them high-quality products as per their needs. These players are further adopting several marketing strategies to flourish in the global market, which include agreements, collaborations, mergers, partnerships, and product launches.

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Recent Developments in the Global Market:

  • Ericsson is a telecommunication company that offers advanced 5G IoT services to various end-use companies. They offer high-speed internet, advanced technology solutions, and enhanced consumer experiences.
  • Nokia focuses on developing their product and services by collaborating with industry partners. They offer their services to the manufacturing, transportation, and energy sectors.

5G IoT Market by Category

By Component:

  • Hardware
  • Platform
  • Connectivity
  • Services
    • Professional Services
    • Managed Services

By Network Type:

  • 5G Standalone
  • 5G Non-Standalone

By End User:

  • Manufacturing
  • Healthcare
  • Energy and Utilities
  • Automotive and Transportation
  • Supply Chain and Logistics
  • Government and Public Safety
  • Agriculture
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa

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.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Strategic Growth in Bromine Market: USD 4.7 Billion by 2033 with a 6.3% CAGR

Bromine Market
Bromine Market

The global bromine market, valued at USD 2.53 billion in 2023, is projected to reach USD 4.7 billion by 2033, reflecting a compound annual growth rate (CAGR) of 6.3% over the forecast period. This robust growth is driven by increasing demand across various industries, including flame retardants, water treatment, and pharmaceuticals, coupled with advancements in production technologies and expanding applications in emerging markets. As environmental regulations tighten and the need for efficient water treatment and fire safety solutions rises, the bromine market is expected to experience sustained expansion through 2033.

Increased crop yields and modern agriculture have added to the need to store agricultural products for long periods of time, including vegetables, dried grains, cotton, and fruits. The effectiveness of many substances in controlling pests that degrade products stored for long periods of time has been studied.

Factors such as geopolitics, trade policies, and reserves of bromine can influence bromine availability and supply. The efficiency and cost-effectiveness of bromine supply can be impacted by technological advancements in bromine extraction and processing methods.

The use of bromine in power plants reduces air pollution. Coal combustion releases mercury into the atmosphere, and about 40% of global power still comes from coal. Scalable batteries based on bromine ions have been developed in newer technology. As an energy storage technology, bromine is preferred due to its abundance, cost, chemistry, and performance.

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Due to changes in consumer preferences, alternative materials can be developed that are free of brominated compounds. The overall economic health of regions and countries directly affects industrial activities and the demand for bromine.

The stable nature of bromine makes it an ideal choice for spas and jacuzzis. As an added bonus, bromine is much gentler on sensitive skin than chlorine. Process water is treated with bromine at major paper and pulp plants in a cost-effective and environmentally friendly manner. A Royal Society of Chemistry report states that bromine is being phased out as fire retardants and in agriculture as a result of toxicity concerns as well as environmental concerns.

Bromine resources in some African and Iranian salt lakes and lagoons have attracted the attention of a few companies. Developing and utilizing bromine resources is also possible in countries that make salt from seawater, like Australia and Mexico.

The Bohai Sea underground brine and sea salt field still uses domestic bromine production capacity as the main raw brine source. Bromine production capacity continues to decline because underground brines continue to diminish year after year.

Key Takeaways

  • Global bromine demand in the United Kingdom is expected to expand at a CAGR of 1.4% during the forecast period.
  • In the United States, the market is expected to reach US$ 1.3 billion between 2023 and 2033.
  • A growth rate of 2.3% is expected for organobromine over the forecast period.
  • China is projected to expand by 2.2% between 2023 and 2033.
  • By 2033, the bromine market in India is anticipated to expand at a CAGR of 2.4% during the forecast period.

“With the growth of oil and gas drilling activities, bromine demand will likely increase. Growing pesticide demand and pharmaceutical industries will drive the market.,” says an FMI analyst.

Competitive Landscape

As the bromine market has developed into a highly competitive environment since the beginning of this century, global demand has increased dramatically. As a result of its expanded and more cost-effective service offerings, the company will be better positioned to compete in an increasingly competitive market.

Market Developments Include

  • In Febraury 2023, TETRA Technologies, Inc. TETRA has published an S-K 1300 Section 19 Report on its Investor Relations website that provides engineering, cost, and revenue assumptions based on the development of Arkansas bromine assets. Continuing to assess its inferred bromine resources in Arkansas, the Company continues to make progress.
  • In September 2023, Australian-based Redflow Limited will lead the way in energy storage innovation. Commercial, industrial, and utility clients can benefit from Redflow’s zinc-bromine flow batteries that provide efficient and scalable solutions. ZBM3 Battery and Energy Pod are among the company’s flagship products.

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Top Key Players in the Global Market

  • Israel Chemicals Limited
  • Albemarle Corporation
  • Tosoh Corporation
  • Tata Chemicals Limited
  • LANXESS AG
  • Sumitomo Chemical Co.Ltd
  • Perekop Bromine
  • Archean Group
  • Jordan Bromine Company
  • Gulf Resources Inc.
  • Hindustan Salts Limited

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the bromine market, the market is segmented on the basis of Derivative Type (Organobromine, Clear Brine Fluids (CBF), Hydrogen Bromide) Application,(Biocide, Flame Retardant, Oil and Gas Drilling, Plasma Etching, PTA Synthesis, Fumigant Synthesis, Others)  End Use (Oil and Gas, Chemicals, Pharmaceuticals and Cosmetics, Electronics & Consumer Goods, Textile, Medical, Agricultural and Pesticides, Automotive, Building and Construction, Water Treatment, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).

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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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5G Industrial IoT Market is Expected to Reach a High Valuation of USD 17,094.9 Million by 2033 | Future Market Insights, Inc.

The global 5G Industrial IoT market size is anticipated to exceed a valuation of USD 1,421.8 million in 2023. It is slated to achieve a valuation of USD 17,094.9 million by 2033. The market is projected to thrive at a monumental CAGR of 28.2% from 2023 to 2033.

The adoption of large-scale IoT solutions in industrial settings is made easier by 5G, which can handle a substantial amount of connected devices per unit area. The price of 5G infrastructure, devices, and services are anticipated to drop as the technology develops and is more extensively used. This cost decrease makes 5G industrial IoT more affordable for a wider spectrum of businesses and organizations, which stimulates market growth.

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By expanding into new geographical areas, several key players seek to expand their market share. This entails forming alliances with regional organizations, opening subsidiaries or offices, and customizing their products to satisfy the need of particular areas. Companies may tap into new consumer bases and acquire a competitive edge by expanding geographically.

For the 5G industrial IoT market to expand, it is essential to concentrate on client demands and offer specialized solutions. To ensure the effective deployment of their solutions, key companies invest in understanding client requirements, executing trial projects, and offering extensive support and services.

India is predicted to dominate the global market. There are several significant telecom firms in India, all of which have extensive infrastructure and experience. These businesses are actively engaged in 5G trials and investments, which may enable them to assume positions of power in the industrial IoT market.

India has a significant amount of institutes and organizations dedicated to high-technology research and development. These organizations help to strengthen India’s competitiveness by developing cutting-edge 5G solutions for industrial IoT applications.

Key Takeaways from the 5G Industrial IoT Market:

  • The global 5G industrial IoT market size developed at a CAGR of 26.1% from 2018 to 2022.
  • In 2018, the global market size stood at USD 443.5 million.
  • The 5G Industrial IoT market reached a valuation of USD 890 million in 2021.
  • The market size stood at USD 1,123.1 million in 2022.
  • In 2022, the solutions segment captured 45.20% shares in the global market.
  • In 2022, the large enterprise segment by organization size captured 61.2% of shares in the global market.
  • India captured 28.4% shares in the global market in 2022.

Key Players in the Global Market

  • Qualcomm
  • Ericsson
  • Nokia
  • Huawei
  • Cisco
  • AT&T
  • IBM
  • Microsoft
  • Seimens
  • Verizon

Recent Developments Observed by FMI:

  • In March 2022, Ericsson and Vodafone UK collaborated in harmony to develop a business plan for 5G SA. It included a single RAN for a high-transmission capacity and low-inertness network that could be used for a computer-generated reality use case in a retail setting.
  • Tech Mahindra and Cisco announced their partnership in March 2022 intending to modernize 5G infrastructure through routed optical networking. Tech Mahindra has experience with IP-based, software-driven 5G networks, whereas Cisco has experience with routed optical fiber.

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5G Industrial IOT Market: Segmentation

By Component:

  • Hardware
  • Solutions
  • Services

By Organization Size:

  • SMEs
  • Large Enterprises

By Application:

  • Predictive Maintenance
  • Business Process Optimization
  • Asset Tracking and Management
  • Logistics and Supply Chain Management
  • Real-time Workforce Tracking and Management
  • Automation Control and Management
  • Emergency and Incident Management, and Business Communication

By End User:

  • Process Industries
  • Discrete Industries

By Region:

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

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.

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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Food Safety Testing Services Market to Expand US$ 30.06 Billion by 2033, Growing at a 7.0% CAGR | FMI

Food Safety Testing Services Market
Food Safety Testing Services Market

The global food safety testing services market value is likely to jump from US$ 15,836.90 million in 2023 to US$ 30,061.73 million by 2033. This anticipated growth is expected to be driven by a steady CAGR of 7.0% in food safety testing services demand over the next decade.

Although comprising the last component of the food manufacturing process, testing food items is considered an extremely important phase. Food product testing is required to ensure that the food is safe to eat and free of physical, chemical, and biological hazards.

The food safety testing services market is heavily regulated. This industry utilizes both classic methods, such as culture-based and immunoassays, as well as novel approaches, such as DNA-based and fast testing.

With the rising food sector and increased concern about food safety, the food safety testing market is positioned for continuing success and expansion. The development of cost-effective and novel testing technology is going to be critical to its continuing success, ensuring that people can have trust in the food they eat.

Individuals who have growing sensitivity to allergens such as gluten and dairy are propelling allergy-free product development globally. As a result, allergy-free products have been introduced, with manufacturers frequently testing packaged and processed food items to trace particles.

Chemical testing in organic food products is also becoming more popular in the market as a result of firms testing these products all over the world for evidence that they contain listed or banned chemicals in order to meet the requirements of different country-level regulatory organizations.

The food business in developing countries is extremely fragmented, posing a higher risk of contamination. Food control systems may be split across national, state, and local organizations, and the efficacy of their execution is dependent on the power and effectiveness of the organization in charge at each level. Consumers are unlikely to be safeguarded to the same level across the country, and evaluating the success of initiatives by national, state, or municipal authorities can prove difficult.

With increased illness occurrences and public awareness of foodborne diseases worldwide, the present food safety testing industry is transitioning toward quick culture-independent molecular or microbiological testing methods. Rising consumer fascination with food quality has spurred significant technological improvements, propelling the food safety testing industry in emerging and developed countries.

“With the development of processed and composite food products, the potential for contamination and safety risks also grows. This trend is set to propel revenue growth in the food safety testing service industry, presenting a significant opportunity for providers,” opines a lead food and beverage analyst at FMI.

Key Takeaways from the Food Safety Testing Services Market:

  • In 2022, the United States asserted its dominance in the food safety testing services industry, boasting a commanding 26.1% global market share.
  • The food safety testing services industry in the United Kingdom is poised for substantial growth, with a projected CAGR of 4.4% through 2033.
  • 3.3% market share was recorded in the Japan food safety testing services sector in 2022.
  • India’s rapid development in the food safety testing services industry is evident through its projected CAGR of 6.2% during the forecast period.
  • Germany exhibited a 6.7% share of the global food safety testing services industry in 2022.
  • China is anticipated to rise speedily in the food safety testing services industry, with a projected CAGR of 10.7% over the forecast period.

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Key Players and Strategies for Success in the Food Safety Testing Services Market

The food safety testing services industry has evolved as a vibrant and fast-increasing segment of the global food safety market in recent years. Leading firms in this ever-evolving landscape adopt several kinds of approaches to address the changing desires of customers and create a presence in a market that is becoming increasingly competitive. The following are essential aspects concerning key competitors and success methods in the food safety testing services market:

  • Putting resources into research to create unique and effective food safety testing services.
  • Construct effective branding and marketing initiatives to stand out in a competitive market.
  • Remain informed on rules and verify that the products comply with regulatory criteria.
  • Establish relationships with food service companies to increase distribution.
  • Remain adaptive to shifting consumer demands and prevailing market trends.

Recent Developments in the Food Safety Testing Services Market

In March 2022, Bureau Veritas opened its sixth Canadian Microbiology library in Winnipeg, Manitoba. The new laboratory is going to supply both quick pathogen testing and indicators.

In February 2021, SGS SA confirmed a collaboration with RLP AgroScience. The aim is to enable complicated personalized tests for pesticide, chemical, biocide, and medication/veterinary drug ecological and human safety evaluations.

Key Companies Profiled in the Global Food Safety Testing Business Report

  • Accugen Laboratories
  • Adpen Laboratories
  • Aegis Food Testing Laboratories (Vanguard Sciences)
  • ALS Limited
  • Asureuality Limited
  • Avomeen Analytical Services
  • Bio-Rad Laboratories
  • Bureau Veritas SA
  • Campden BRI
  • Det Norske Vertias AS (DNV)
  • EMSL Analytical Inc.
  • Eurofins Scientific
  • Exova Food Hygiene & Health Laboratory
  • Genon Laboratories Ltd.
  • Idexx Labora

Key Segments of Food Safety Testing Services Industry Survey

By Test:

  • Allergen Testing
  • Chemical and Nutritional Testing
  • Genetically Modified Organism Testing
  • Microbiological Testing
  • Residue and Contamination Testing
  • Others

By Application:

  • Meat, Poultry and Seafood Products
  • Dairy and Dairy Products
  • Beverages
  • Processed Food
  • Cereals & Grains

By Technology:

  • Polymerase Chain Reaction (PCR)
  • Immunoassay-based
  • Chromatography and Spectrometry
  • Other Technologies

By Region:

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

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.

Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Glutamic Acid Market to Grow US$ 15.79 Billion by 2033, Driven by Rising Use in Food and Pharmaceuticals, with a 4.7% CAGR

The global glutamic acid market size is estimated to be valued at US$ 10,160.6 million in 2023. The overall demand for glutamic acid market is poised to grow at a steady CAGR of 4.7% between 2023 to 2033, totaling a market valuation of US$ 15,787.8 million by 2033.

The glutamic acid market has enormous development potential due to rising demand from end-use sectors such as animal feed, medicines, and food and beverages, among others. Another application of glutamic acid is as a flavor enhancer in processed foods, which will boost glutamic acid market expansion in the approaching years.

Consumer demand for healthier foods is propelling the worldwide glutamic acid sector forward. Glutamic acid is a food enhancer that has many health benefits. Furthermore, the public globally favors healthful diets, which increases the need for glutamic acid. Increased use of energy drinks and processed and packaged foods are important drivers driving worldwide glutamic acid market growth.

The price of glutamic acid has risen due to rising demand in the livestock nutrition and food and beverage industries.  Glutamic acid is used in the personal care and cosmetics industries to alter the pH of cosmetics and personal care products. It can be utilized in anti-aging creams, infant merchandise, eye cosmetics, hair care products, cosmetics, and bath products. It is used in anti-aging and acne lotions because of its ability to improve skin health, inhibit free radical damage, and preserve moisture.

Glutamic acid is used in pharmaceutical applications to treat a wide range of diseases in humans, including epileptic seizures, muscular atrophy, neurotransmission imbalances, and cognitive and behavioral problems, as well as to avoid nerve damage during chemotherapy. Favorable government policies supporting the pharmaceutical industry, as well as increasing private firm investment, are projected to promote the pharmaceutical industry, boosting glutamic acid usage in the coming years.

Excess glutamic acid consumption has a deleterious impact on normal health. This can result in nasal swelling, skin irritation, migraines and nausea. Additionally, a high glutamic acid intake causes allergic reactions, throat swelling, skin burning, and other health problems. These elements have an adverse effect on the glutamic acid market. However, the physician-recommended limited consumption of glutamic acid in supplement nourishment is likely to outweigh the concerns about glutamic acid’s unfavorable side effects.

Key Takeaways

  • The glutamic acid industry in the United States was predicted to hold a value share of 26% globally in 2022.
  • The glutamic acid market in the United Kingdom is projected to be expanding at a CAGR of 5.1% from 2023 to 2033.
  • During the forecast period, the market for glutamic acid in China is expected to secure a 11.4% CAGR.
  • The value share of the glutamic acid industry in Japan was estimated to reach 3.6% in 2022.
  • India’s glutamic acid industry is predicted to move forward at a 3.1% CAGR during the forecast period.

Competition in the Market

The presence of multiple established competitors in the glutamic acid market share is very competitive. To capitalize on market growth prospects, these organizations are focusing on increasing their footprint through acquisitions, expansions, product approvals, and launches.

Evonik Industries AG, KYOWA HAKKO BIO CO., LTD., Sichuan Tongsheng Amino acid Co., Ltd, Ningxia Eppen Biotech Co., Ltd, Global Bio-chem Technology Group Company Limited., Otto Chemie Pvt are the key players operating in the market.

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Recent Developments

  • Iris Biotech brought out its photoaffinity labeling by diazirine building blocks suitable for the analysis of protein-protein and RNA-protein interactions in June 2023.
  • In June 2023, Bachem, a leading company in developing peptides and oligonucleotides, explained their use of Solid Phase Peptide Synthesis (SPPS).

Key Segments Profiled in the Glutamic Acid Industry Survey

Glutamic Acid Market by Application:

  • Food additives
  • Pharmaceuticals
  • Animal & Pet Food

Glutamic Acid Market by Region:

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

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.

Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Fluoropolymer Film Market to Reach USD 3.7 Billion by 2034, Driven by a 5.9% CAGR

Fluoropolymer Film Market
Fluoropolymer Film Market

Fluoropolymer films have become an increasingly popular material across various manufacturing operations, thanks to significant refinements in their development in recent years. According to Future Market Insights, the advancements have led to a notable rise in the significance and sales of fluoropolymer films, which were valued at USD 2.01 billion in 2023.

Fluoropolymer films, composed of fluorine and carbon, possess high-performance properties, resistance to chemicals and moisture, non-stick properties, and optical transparency, making them ideal for a wide range of applications. Due to these properties, the sales of fluoropolymer films are currently at their peak, and the global fluoropolymer film market size is estimated to be around USD 2.09 billion in 2024, with sales projected to report a CAGR of 5.9% over the forecast period.

The need for fluoropolymer tapes is widespread in various industries due to their chemical and thermal resistance, low friction coefficient, and high dielectric strength. These tapes find applications in multiple industries, including electrical, electronics, construction, automotive, aerospace, and healthcare. In particular, the healthcare sector is witnessing a surge in the use of fluoropolymer films, fueled by rising healthcare investments and widespread use in these sectors.

The versatility of fluoropolymer films makes them an essential material in various industries, and their increasing demand and adoption are expected to drive the market’s growth. With an anticipated market value of USD 3.7 billion by 2034, the future looks bright for this high-performance material.

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The current state of the industry shows that the military sector has a considerable growth in demand for fluoropolymer films. Such trend is anticipated to continue in the near future. Because of their exceptional technical qualities, such as their clarity, UV stability, moisture barrier, chemical inertness, and non-yellowing chemistry, fluoropolymer films are a perfect choice for packaging a variety of defense sector items. In the near future, the demand for fluoropolymer films is anticipated to develop due to such special qualities.

“The need for tapes for commercial construction and pharmaceutical packaging is anticipated to fuel growth in the fluoropolymer film market. These films have good electrical insulating qualities, a low dielectric constant, and resilience to heat and chemicals. On the other hand, negative environmental effects including air and water pollution and land degradation, as well as health and environmental risks like hazardous substances like PFOA, may prevent market expansion,” says an analyst of Future Market Insights.

Key Takeaways from the Fluoropolymer Film Market Report

  • The fluoropolymer film industry demands Polytetrafluoroethylene (PTFE) with a revenue share of 34.2% in 2024.
  • In 2024, the fluoropolymer film market is estimated to be utilized by the packaging industry at 27.9%.
  • The fluoropolymer film industry in Canada is anticipated to see a CAGR of 3.6% from 2024 to 2034.
  • The fluoropolymer film sector in Germany is projected to showcase a CAGR of 2.8% through 2034.
  • The fluoropolymer film market in India is anticipated to display a CAGR of 8.8% during the forecast period.

Competitive Analysis of the Fluoropolymer Film Sector

The fluoropolymer films industry is extremely concentrated and dominated by a small number of key suppliers. Leading corporations are making significant investments in research and development to produce cutting-edge products for final consumers. To obtain a competitive edge, they concentrate on capacity growth, mergers, and acquisitions. In order to create cutting-edge fluoropolymer compositions and diversify their product offerings, they also fund research.

There is fierce rivalry in the industry when it comes to cost, value, and customer support. As businesses work to provide sustainable fluoropolymer solutions, environmental laws and technological breakthroughs heighten competition. Prominent corporations are adopting calculated risks to fortify their market positions. These risks include investing in sustainable fluoropolymer technology, forming strategic alliances to broaden their product offerings, and conducting research and development to introduce innovative fluoropolymer formulations.

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Recent Development in the Fluoropolymer Film Sector

Based on Datwyler’s FirstLine idea, Datwyler Healthcare announced UltraShield in April 2023. UltraShield is a fluoropolymer film coating technique that improves quality and performance for injectable medicine elastomeric closures.

Leading Fluoropolymer Film Players

  • The Chemours Company
  • Arkema Group
  • Solvay SA
  • DAIKIN INDUSTRIES Ltd.
  • Asahi Glass Co. Ltd.
  • 3M Company
  • Saint Gobain S.A.
  • Polyflon Technology Ltd.
  • Dongyue Group Ltd
  • Honeywell International Inc.

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.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube