Furniture Polish Market Anticipates a Valuation of USD 22 Billion by 2033: Product Life Cycle Analysis | FMI

In 2023, the furniture polish market is expected to be worth USD 10.72 billion. According to the furniture polish industry research report, by 2033, the market would be valued at USD 22 billion. For the projected period, furniture polish sales are anticipated to grow at a CAGR of 7.4%.

The widespread increase in global internet access has significantly boosted the furniture polish market. The internet has transformed consumer behavior, revolutionizing how they discover, evaluate, and purchase furniture polish by providing a broader selection of products and brands.

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The convenience of online shopping allows consumers to explore options and make purchases from home. Access to detailed product information, comparisons, and user reviews online empowers consumers to make informed choices. Consequently, this enhanced consumer knowledge and the ease of online shopping have led to increased demand for furniture polish products.

Moreover, e-commerce platforms and digital marketing strategies have provided furniture polish manufacturers and sellers with unprecedented opportunities to reach a broader audience and establish their brands on a global scale.

Asia Pacific excluding Japan accounts for nearly 30% share of the market in 2021. With the increase in the number of furniture installations in household and commercial sectors, maintaining furniture and protecting it from dust and other external factors has become crucial. Various types of furniture are used to provide spacious interior looks to a household as well as commercial spaces and furniture eventually requires periodical maintenance, which necessitates the use of furniture polish.

Furniture polish is a non-foaming neutral liquid used for coatings to provide finishing touches to various carpentry and woodworks. Furniture polish finds a wide range of applications in household as well as commercial sectors as it can clean and polish any kind of furniture, ranging from wooden desks, panels, kitchen cabinets, table tops to woodwork.

Mergers and Acquisitions – A Key Factor Driving Value Sales

The confluence of various factors, such as the expansion of customer base and varying consumer perception, has compelled various key furniture polish manufacturers to opt for key strategies in the view of generating sales in the global market. Mergers and acquisitions have been considered as one of the key strategies adopted by various furniture polish manufacturers to generate sales as well as expand operations in domestic and international markets.

For instance, in 2017, Axalta Coating systems, one of the marquee players in the global furniture polish market acquired The Valspar Corporation’s North American Industrial Wood Coatings business for US$ 420 Million. Valspar Corporation specializes in the production of various furniture polish products for the North America market.

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Internet Penetration – A Key Influential Macroeconomic Factor Driving Market Growth

The average internet penetration around the globe has been rising at a significant rate with 2.8 Billion people aged above 15 years connected to the internet. Various e-commerce channels such as Walmart, Tesco and Amazon have been considered as the preferred e-commerce platforms for purchasing products. This critical macroeconomic factor has been paving way for the global furniture polish market growth in terms of value and volume sales.

Attributing to this, several key furniture polish manufacturers now consider online platforms as a key tool in triggering demand as well as sales for their various furniture polish products. For instance, in 2018, Sherwin-Williams – a prominent player in the global furniture polish market – launched an online tool that provides detailed specifications of its various furniture polish products for the North America market.

Emphasis on Innovation and New Product Launches by Furniture Polish Companies

Consumer perception and buying behavior have been constantly changing with the new trends in various markets. The global furniture polish market has been witnessing a similar trend with its large customer base. With the use of various types of base materials such as hardwood gaining traction in the furniture industry, customers now seek furniture polish capable of maintaining the look of such hardwood furniture for a long span of time.

As a result, various furniture polish manufacturers have been strategizing on introducing new variants of furniture polish products to cater to the varying demand from its target customers. For instances, in 2015, Bona US, one of the key players in the global furniture polish market announced the launch of a new line of furniture polish under the brand name ‘Bona Wood Furniture Polish’, which is a liquid-based product that cleans and protects hardwood furniture. Furniture Polish Wipes are another innovation inline, these wipes are beneficial in removing sticky spills and stains, and also helps in protecting furniture from dust and allergens.

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Multinational Players are Relatively Highly Concentrated on a Global Scale, as Compared to Local & Regional Furniture Polish Manufacturers

The global furniture polish market is primarily characterized by the presence of a large number of regional and multinational companies. Detailed profiles of furniture polish companies have also included in the global furniture polish market report to evaluate their strategies, key product offerings, and recent developments.

Some of the key players profiled in the global furniture polish market study include

  • Altana
  • Cleenol Group Ltd.
  • Liberon Limited
  • Reckitt Benckiser Group plc (Old English)
  • S.C. Johnson & Son, Inc. (Pledge)
  • The Sherwin-Williams Company
  • PPG Industries Inc.
  • Akzo Nobel N.V.
  • Axalta Coating Systems
  • Masco Cabinetry, LLC
  • RPM Wood Finishes Group
  • Blend well Chemicals
  • Milsek Furniture Polish Inc.
  • Golden Star Inc.
  • Other

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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 ~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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Anti-wrinkle Product Market Projected to Surpass a Valuation of USD 19,267.50 Million by 2033

By 2033, the global anti-wrinkle product market size is projected to surpass a valuation of USD 19,267.50 million. Our consumer product analysts opine that manufacturers can expect a CAGR of 6.50% through 2033, with a current valuation of USD 10,255.60 million.

  • Holistic well-being and self-care are receiving significant attention, making skincare an integral part of self-care routines.
  • Consumers are more willing to invest in products that enhance their well-being, aligning with the prevailing wellness trend.
  • Marketing and retail strategies like augmented reality (AR)-enabled virtual try-on experiences, subscription models, and immersive in-store displays have revolutionized the consumer purchasing journey.

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To improve the consumer experience, brands are developing luxury and sensory anti-wrinkle creams. Rich textures, enticing fragrances, and abundant applications are sensual delights and clever marketing tools. The business proposition is to distinguish items by providing a superior, emotionally fulfilling experience. This trend responds to customers who want both functional outcomes and a relaxing, joyful ritual in their skincare practices.

The use of probiotics and prebiotics in anti-wrinkle treatments demonstrates the industry’s commitment to scientific innovation. Probiotics improve the skin’s microbiota and maintain a healthy skin barrier. Collaborations with scientific research and development teams manufacture effective probiotic formulations in this trend.

Key Takeaways from the Anti-wrinkle Products Market Report:

  • In 2022, the global market size stood at US$ 9,887.20 million.
  • The creams & moisturizers segment captured 56.40% of market shares in 2023.
  • The synthetic nature segment occupied 50.50% of market shares in 2023.
  • The market size in India is likely to rise at a 7.30% CAGR through 2033.
  • the anti-wrinkle products market in France is expected to surge at a 4.10% CAGR through 2033.
  • The market size in Japan is estimated to flourish at a 6.80% CAGR through 2033.
  • The market size in Canada is likely to develop at a 5.30% CAGR through 2033.
  • China is expected to increase at a 6.40% CAGR through 2033.

Competitive Landscape

Key players are strengthening their distribution networks and accelerating their manufacturing facilities to enhance the supply of products on a large scale. Moreover, the regulatory environment shapes the competitive landscape with tight laws in some markets as entry obstacles for new businesses. On the other hand, regulatory changes and programs promoting clean beauty and sustainability have fueled the expansion of eco-friendly and natural product lines.

Key Players Are:

  • Unilever
  • Revlon, Inc.
  • Procter & Gamble Co.
  • Oriflame Cosmetics AG
  • Nature Republic
  • Natura & Co.
  • Mary Kay Inc.
  • Lotus Herbals Limited
  • L’Oréal S.A.
  • Kao Corporation

Recent Developments Observed by FMI:

  • Food firm Hy, formerly known as Korea Yakult, developed Leti 7714 Triple Lift-up Up Anti-Aging Cream in September 2023, which includes a fermented product of cultivated lactic acid bacteria. This is Hy’s second cosmetic product under Fredit Beauty, following the NK7714 Hyper Boosting Ampoule.
  • Givaudan announced the release of RetiLifeTM, an anti-aging chemical that will be a game changer in the beauty sector, in February 2023. This novel active component is the first to be made entirely from natural sources, making it a more sustainable alternative to chemically synthesized retinol.

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Anti-wrinkle Product Market Segmentation

By Product Type:

  • Creams & Moisturizers
  • Cleansers
  • Others

By Nature:

  • Natural/Herbal
  • Synthetic
  • Organic

By End User:

  • Men
  • Women

By Sales Channel:

  • Pharmacies
  • Specialty Outlets
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Beauty Stores
  • E-retailers
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East and 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 ~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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Waterproof Socks Market: Innovative Gear Projected to Surge, Expected to Reach USD 43 Million by 2033

Until 2033, the waterproof socks market is likely to advance at a CAGR of 4%, with the market estimated to be valued at US$ 29.09 million in 2023, reaching US$ 43 million.

What’s even more exciting is the rising interest in waterproof socks designed specifically for exhilarating water-based adventures such as kayaking. These socks offer reliable protection against splashes and exposure to wet conditions, boosting confidence with every paddle. For enthusiastic winter adventurers, waterproof socks tailored for snowshoeing offer an additional layer of warmth and moisture resistance, ensuring enjoyable hours of exploration in the snow.

Future Market Insights (FMI) has published a new market research report on social employee recognition systems. The report has been titled, Global Waterproof Socks Industry Global Industry Analysis, Forecast. Long-term contracts with large enterprises and private companies are likely to aid the expansion of business revenues, and innovation in the industry will enable social employee recognition system vendors to reach out to new potential customers in emerging markets.

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These factors are expected to help the global market for social employee recognition systems observe stellar growth in next few years.The team of researchers at Future Market Insights are focussing on research and market study to produce different Waterproof Socks Industry forecasts and predictions at both national and international levels.

They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Waterproof Socks Industry.

Emerging Trends in the United States Waterproof Socks Market

  • The United States waterproof socks market is undergoing a surge of innovation driven by various factors.
  • Activity-specific designs are becoming increasingly prevalent, offering the best waterproof socks tailored for hiking, work, hunting, fishing, snowshoeing, kayaking, camping, backpacking, and running.
  • These specialized designs are redefining outdoor experiences by providing optimal comfort and protection for various activities.
  • Advanced materials, eco-conscious initiatives, and integrated technology are contributing to the evolution of the market, blending style with functionality.
  • The market landscape is rich with opportunities, catering to diverse needs and preferences, from enhancing foot health to meeting the demands of niche pursuits.
  • The rising trend of waterproof socks underscores the industry’s commitment to keeping adventurers dry, comfortable, and prepared to tackle new challenges.
  • The United States market is projected to grow at a compound annual growth rate (CAGR) of 4.3% through 2033, reflecting sustained demand and ongoing innovation in the segment.

Furthermore, waterproof socks are also being considered as a hygienic consumer goods since they are anti-bacterial by property. There are various diseases that one suffers from, which are mostly caused by various harmful bacteria and viruses. As a result, most healthcare professionals urge people to wear waterproof socks. Waterproof socks tend to prevent bacteria from entering into the feet during outdoor or extra-curricular activities.

Competitive Landscape

Companies operating in ring light market are aiming for strategic collaborations and partnerships with other manufacturers to expand their product portfolio to address the demand of an expanding patient pool.

  • In April, 2021, Pixco, announced its new product, the Pixco RL-4955 18” LED Ring Lights Built-in Live Sound Card. The product aimed towards YouTubers, vloggers, content creators and influencers to broadcast high quality professional content on any platform.
  • Elgato launched a 17-inch ring light, with a range of warm and cool color options with brightness up to 25,000 lumens.
  • Neewer revealed its new 18-inch ring light kit including a 18-inch outer 5500K LED ring light, a series of color filters, a 61-inch light stand, a smartphone holder, a ball head hot shoe adapter for DSLR cameras, and a power adapter.

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Key Players

Global Waterproof Socks Industry key vendors include:

  • Wigwam Corporation
  • Camaro GmbH
  • Randy Sun
  • Bridgedale Outdoor Ltd.
  • Okamoto Corporation
  • Recreational Equipment, Inc

Key Segmentations

The Waterproof Socks Industry is segmented into application, form, end use industry, source and geography.

On the basis of product type

  • mid-calf length waterproof socks
  • ankle-length socks
  • knee-length socks

On the basis of application

  • trekking
  • water sports
  • cycling
  • snow sports
  • outdoor
  • other activities

On the basis of gender

  • male
  • female
  • unisex

On the basis of sales channel

  • wholesaler/distributor
  • supermarket/hypermarket
  • specialty store
  • independent store, club store
  • online store

Regional Segments Analyzed Include

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

Important changes in market dynamics

The report has been created after detailed and exhaustive studies by the analysts at FMI taking several factors into consideration like monetary, ecological, social, mechanical, and political status of a particular demography. They study the key data to assess the revenue and production of manufacturers across various regions. The report also covers an in-depth analysis of the key changes in market dynamics in the recent past and the near future.

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 ~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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Hair Styling Products Market: Anticipated Growth at an Average 5.4% CAGR by 2033

The hair styling products market is projected to increase from US$ 23.5 billion in 2023 to US$ 39.9 billion by 2033, with an average Compound Annual Growth Rate (CAGR) of 5.4%.

The hair styling products market is experiencing a lush mane of demand, thanks to a potent mix of rising disposable incomes, ever-changing fashion trends, and a focus on maintaining well-groomed appearances.

Social media fuels the fire, showcasing diverse hairstyles and inspiring experimentation. Manufacturers keep things exciting with constant innovation, catering to specific hair types and health concerns. Hair sprays currently reign supreme, but gels, mousses, and natural options are all gaining traction. Asia Pacific leads the charge in growth, while e-commerce provides convenient access to a global plethora of products.

Sustainability and ethical sourcing remain challenges, but cater to niche markets and personalized needs, the future for hair styling holds endless possibilities.

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  1. Business Growth Drivers:
    • Increasing Consumer Awareness: Growing awareness among consumers regarding hair care and grooming, driven by social media influence, celebrity endorsements, and beauty trends, fuels the demand for hair styling products.
    • Innovations in Product Formulations: Continuous innovations in hair styling product formulations, such as organic, natural, and eco-friendly ingredients, attract environmentally conscious consumers and contribute to market growth.
    • Expansion of Distribution Channels: Expansion of distribution channels, including e-commerce platforms, specialty stores, and salons, enhances product accessibility, leading to increased sales and market penetration.
    • Changing Lifestyle Trends: Shifting lifestyle trends towards self-care and personal grooming, particularly among the millennial and Gen Z demographics, drive the adoption of hair styling products as part of daily grooming routines.
    • Globalization of Beauty Standards: Globalization of beauty standards and increasing influence of Western beauty ideals across regions stimulate demand for a wide range of hair styling products tailored to diverse hair types and styling preferences.
  2. Industry Restraints:
    • Regulatory Constraints: Stringent regulations regarding the use of certain chemicals and ingredients in hair styling products may pose challenges for manufacturers in terms of formulation and compliance, impacting product innovation and market expansion.
    • Economic Volatility: Economic uncertainties, fluctuations in disposable income, and consumer spending patterns affect purchasing decisions, potentially leading to fluctuations in demand for hair styling products.
    • Competition from Home Remedies: Growing preference for natural and DIY hair care remedies, including homemade treatments and hair masks, presents competition to commercial hair styling products, especially among cost-conscious consumers.
    • Negative Health Perceptions: Concerns regarding the long-term effects of chemical-laden hair styling products on hair and scalp health contribute to consumer skepticism and may deter some individuals from using such products.
    • Environmental Sustainability: Increasing emphasis on environmental sustainability and eco-conscious consumerism drives demand for environmentally friendly packaging and product formulations, posing challenges for companies to align with sustainable practices while maintaining product efficacy and affordability.

Key Players Are:

Key players in the market include

  • L’Oreal SA,
  • Procter & Gamble Co.,
  • Unilever PLC,
  • Henkel AG & Co. KGaA,
  • Amway Corporation,
  • Avon Products Inc.,
  • Revlon Inc.,
  • Kao Corporation,
  • Shiseido Company Limited, and
  • Estee Lauder Companies Inc.

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Key Segments

Hair Styling Products Market by Product:

  • Hair Gels
  • Hair Sprays
  • Styling Creams & Waxes
  • Hair Mousse
  • Others

Hair Styling Products Market by End Use:

  • Household
  • Salons & Spas
  • Fashion Industry

Hair Styling Products Market by Gender:

  • Male Hair Styling Products
  • Female Hair Styling Products
  • Unisex Hair Styling Products

Hair Styling Products Market by Sales Channel:

  • Wholesalers/Distributors
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialty Stores and Online Stores

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 ~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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Renewable Methanol Market Poised for Robust Growth, Projected to Reach Over USD 398 Million by 2033

 

The global renewable methanol market is set for significant expansion, with an anticipated compound annual growth rate (CAGR) of 6.6% over the forecast period. This growth trajectory is expected to drive the market’s value to surpass USD 398.1 million by 2033. This surge is fueled by increasing demand for sustainable fuel alternatives and advancements in methanol production technologies, highlighting the industry’s pivotal role in the transition toward cleaner energy solutions and contributing to the reduction of greenhouse gas emissions.

As it is used in the chemical sector to make acetic acid, formaldehyde, and plastics, there is expected to be an increase in demand for renewable methanol throughout the projection period. To produce polyethylene and polypropylene, much more biomethanol is now being used. Moreover, the main applications of biomethanol are as fuel for industrial boilers, vehicles, ships, and kitchen appliances.

The key reasons behind the market expansion include decreasing or eliminating CO2 emissions to prevent climate change drastically and the increased emphasis on limiting the average global temperature rise to no more than 1.5°C. This suggests that emissions throughout the economy are net zero by the middle of the century.

In some industries with few choices for carbon emission reduction, biomethanol has been more effective as a feedstock in the chemical industry or as a fuel for land or marine transportation.

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Low petrol costs are also affecting the use of renewable methanol. Due to weak domestic and global demand, several EU, Brazil, and United States production facilities have cut their output. As a result of the decreased demand, renewable methanol stocks are predicted to rise across several markets, driving down prices and jeopardizing profitability.

Key Takeaways

  • By 2033, the renewable methanol market in the United Kingdom is likely to expand, with a CAGR of 5.8%.
  • In 2023, the United States is expected to develop the renewable methanol business with a share of 22.4%.
  • The renewable methanol market size grew considerably to US$ 201.1 million in 2022.
  • The renewable methanol industry expanded at a CAGR of 6.8% from 2018 to 2022.
  • By 2033, China’s renewable methanol market is projected to have a CAGR of 6.9%.
  • By 2033, India’s renewable methanol industry is projected to expand with a CAGR of 7.3%.
  • Japan’s renewable methanol sector is likely to grow significantly, with a 10.2% share in 2023.
  • Australia’s renewable methanol is expected to develop with a share of 3.1% in 2023.
  • Germany’s renewable methanol business is expected to grow, with a share of 15.4% in 2023.
  • In 2023, based on a primary source, the biomass feedstock segment is expected to dominate the market, with a share of 42%.
  • In 2023, based on application, the formaldehyde segment is expected to dominate the market, with a share of 25%.

Competitors’ Successful Techniques and Recent Developments:

  • At Anyang, Henan Province, China, production of the first CO2-to-methanol facility on a commercial scale began in October 2022.
    • The state-of-the-art plant is the first in the world to generate methanol at this scale from waste carbon dioxide and hydrogen gasses.
    • Methanol is a valuable fuel and chemical feedstock. The manufacturing method of the plant is based on Carbon Recycling International’s Emissions-to-Liquids (ETL) technology.
  • A contract for a 100,000 tonnes per year CO2 to methanol plant was signed on September 28, 2021, between the China-based petrochemicals firm Jiangsu Sailboat Petrochemicals Co. Ltd. and the Icelandic technology company Carbon Recycling International.
  • Repsol, Enerkem, and Agbar constructed the first waste-to-chemicals facility in the Iberian Peninsula on April 27, 2021. Repsol, a Spanish multi-energy corporation, will join the Eco Planta project to build a waste-to-chemicals plant in Tarragona, Spain, alongside Enerkem, a technical leader located in Montreal, and Agbar, a world authority in water and waste management.

Top Key Players in the Global Market

  • Methanex Corporation
  • Carbon Recycling International
  • BioMCN
  • Enerkem
  • Chemrec Inc.
  • VarmlandsMethanol
  • Alberta Pacific
  • New Hope Energy
  • Trans World Energy
  • Proman
  • ENI
  • BASF SE

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Key Segmentation of the Renewable Methanol Market

By Primary Source:

  • Biomass
  • Municipal Waste
  • Industrial Waste
  • Others

By End Use Sector:

  • Formaldehyde
  • MTBE
  • Gasoline
  • Dimethyl Ethers
  • Solvents
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • 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 ~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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Fabric Care Market: Investment Feasibility Matrix for Projected USD 193.1 Billion Growth by 2033

The fabric care market is projected to grow from USD 114.0 billion in 2023 to USD 193.1 billion by 2033, expanding by a CAGR of 5.4% from 2023 to 2033.

Increasing lifestyle improvement is a vital factor responsible for the upliftment of market growth. Furthermore, growing awareness about the benefits of using fabric conditioners, increasing diversification of product portfolio, and rising consciousness towards the benefits of using quality detergent coupled with fabric conditioners are the factors driving the fabric care market.

Furthermore, factors such as a fast-growing population, rising per capita spending on domestic cleaning goods, an expanding global FMCG industry, and the developing trend of hygienic personal care are likely to enhance demand for fabric care products over the forecast period.

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Fabric care companies use a variety of marketing methods to grow their market share, revenue, penetration, and client base. Multiple competitors, for example, offer combination deals to enhance sales and profits, product innovation to build brand loyalty, and the introduction of various items in the same product category for different user groups are some of the drivers driving the global fabric care market.

Moreover, packaging plays an important role in protecting and extending the shelf life of a wide range of FMCG products, thus, nowadays, consumers are not only concerned about buying natural & green-label home care, personal care and fabric care products, but are also demanding environment-friendly packaging.

Thus, growing consumer expectations for eco-friendly packaging and consciousness about the detrimental effects of fabric care containers and plastic packaging on the environment are projected to accelerate the growth of the natural fabric care market worldwide. Moreover, the frequent launch of fabric care products that target specific customers, coupled with increasing demand for green products, is creating considerable opportunities in the global fabric care market.

The global fabric care market is segmented on the basis of regions, which include North America, Latin America, Asia Pacific Excluding Japan (APEJ), Europe, Middle East & Africa and Japan. Among all the regions, the Asia Pacific excluding Japan and Europe regions are estimated to have a substantial value share. In terms of value, APEJ is the most attractive region in the global fabric care market, and is expected to grow at a CAGR of 6.9% over the forecast period. In the global fabric care market, the region is expected to gain 278 BPS during the forecast period.

On the basis of product type, the fabric care market is segmented into fabric detergents, fabric softeners/enhancers, stain removers/bleach and other fabric care products. In 2018, the fabric detergents segment accounted for the highest revenue share of 48.7% in the global fabric care.

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Key Players in the Global Fabric Care Market

Detailed profiles of companies are also included in the global fabric care market report to evaluate their performance, key product offerings and recent developments. Some of the key players profiled in the global fabric care market study include

  • Reckitt Benckiser Group PLC
  • S.C. Johnson & Son Inc
  • Golrang Industrial Group
  • Alicorp S.A.A.
  • RSPL Limited
  • LG Household & Health Care Ltd
  • Wings Corporation
  • Lion Corporation
  • Procter & Gamble Co.
  • Guangzhou Liby Enterprise Group Co., Ltd.
  • Whealth fields Lohmann Guangzhou Ltd.
  • Fabrica de Jabon La Corona;
  • SA de CV
  • Unilever PLC
  • Church & Dwight Co., Inc.
  • Nice Group Co., Ltd.
  • Kao Corporation; Henkel AG & Co. KGaA
  • Guangzhou Blue Moon Industry Co., Ltd.
  • Amway Corporation.

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 ~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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Electroplating Industry Set for 4.1% CAGR Growth, Reaching USD 30 Billion by 2033

Electroplating Market
Electroplating Market

The electroplating market is poised for substantial growth, with projections indicating it will expand from USD 20 billion in 2023 to USD 30 billion by 2033. This growth trajectory reflects a compound annual growth rate (CAGR) of 4.1% over the forecast period. The increase in market value is driven by rising demand across various industries, including automotive, electronics, and aerospace, where electroplating is essential for enhancing durability, corrosion resistance, and aesthetic appeal of components. As technological advancements continue to evolve and industries expand, the electroplating sector is expected to experience robust expansion and innovation.

The electroplating market offers several lesser-known opportunities and trends that are worth exploring. Among the significant trends in the market is the shift towards green electroplating solutions. The industry has been under scrutiny due to the environmental impact of its traditional electroplating processes, which involve the use of toxic chemicals. This has led to the development of green electroplating solutions, which are environmentally friendly and safer for workers.

An emerging trend in the market is the growing demand for decorative electroplating solutions. The use of decorative coatings in industries such as automotive, jewelry, and electronics is increasing rapidly, providing significant growth opportunities for electroplating manufacturers.

The use of electroplating in the medical and healthcare industries is also gaining momentum. The ability of electroplating to provide a smooth, corrosion-resistant surface makes it an ideal solution for medical devices and implants.

The increasing demand for electroplating in the aerospace industry is driving market growth. Electroplating is widely used in the production of aircraft components, providing a protective coating that resists corrosion and wear.

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Overall, the electroplating market is poised for growth, driven by the increasing demand for green solutions, decorative coatings, and applications in various industries such as healthcare and aerospace.

Key Takeaways from the Electroplating Market:

  • FMI has projected North America to remain a hotspot for electroplating market, holding a market share of 40% throughout the course of the forecast period.
  • The automotive segment is expected to hold over 34% of the global market in terms of end use in 2023.
  • The functional segment continues to lead the market. It is expected to hold nearly 88.2% in the market in 2023.
  • Accounting for over 96% of the overall share through the forecast period, base metal plating continues to account for bulk of demand.
  • The nickel plating segment is expected to hold a little below 31% of the market, in terms of product type, by the end of 2033.

“Electroplating market experiences technological advancements in equipment and chemicals, leading to improved efficiency and sustainability”, remarks an analyst at FMI.

How Key Players are revolutionizing the Manufacturing of Electroplating market?

Prominent players in the electroplating market are revolutionizing the manufacturing process by developing innovative electroplating techniques and using advanced technologies for better efficiency and productivity. They are also investing in research and development activities to come up with eco-friendly and cost-effective electroplating solutions that can meet the growing demand for sustainable manufacturing practices.

The leading players are also adopting strategies such as mergers and acquisitions, collaborations, and partnerships to expand their market share and improve their product offerings. They are also focusing on expanding their geographic presence in emerging markets to tap into the rising demand for electroplating solutions in these regions.

With the growing demand for electroplating solutions across various end-use industries, key players are continuously exploring new opportunities and trends to stay ahead of the competition and drive growth in the market.

Key Players in the Market:

  • Atotech Deutschland GMBH
  • Interplex Holdings Pte. Ltd
  • Kuntz Electroplating Inc.
  • Pioneer Metal Finishing Inc.
  • Roy Metal Finishing Inc.
  • Bajaj Electroplaters
  • J & N Metal Products LLC
  • Peninsula Metal Finishing, Inc.

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Recent Developments in the Electroplating Industry:

  • In January 2020, Pioneer Metal Finishing, backed by Aterian Investment Partners, expands its footprint with the acquisition of Pilkington Metal Finishing.

More Insights Available

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

To understand opportunities in the electroplating market, the report is segmented on the basis of Plating Metal (Gold, Silver, Copper, Nickel, Chromium, Zinc and Others), Substrate (Manually Operated Inhaler Devices, Base Metal Plating (Copper, Nickel, Aluminum, Zinc, Lead), Plastic Plating (ABS, PPA, PC, PP, Polysulfone and Others), Function (Decorative and Functional), End-Use (Automotive, Electrical & Electronics, Aerospace & Defense, Jewelry, Machinery Parts & Components and Others),  across 7 major regions (North America, Latin America, Europe, Asia Pacific and Middle East and 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 ~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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Polymer Concrete Industry Projected to Reach USD 1,518 Million with 7.9% CAGR by 2034

Polymer Concrete Market
Polymer Concrete Market

The polymer concrete market is on a robust growth trajectory, with projections indicating a valuation of USD 541.4 million by 2024. This expansion reflects an impressive compound annual growth rate (CAGR) of 7.9%, anticipated to elevate the market to approximately USD 1,158 million by 2034. The increasing adoption of polymer concrete across various applications, driven by its superior durability, resistance to chemical and environmental factors, and enhanced structural integrity, is fueling this substantial growth and positioning it as a significant sector in the construction and materials industry.

Demand for polymer concrete stems from its superior properties, including high strength, durability, chemical resistance, and low permeability. Such attributes make it an ideal choice for various applications such as transportation infrastructure, industrial flooring, and wastewater management.

The surge in infrastructure development activities, especially in emerging economies, is boosting the demand for polymer concrete solutions. The rise in focus on sustainable construction practices and the need for environmentally friendly building materials further propel market demand.

Despite its advantages, polymer concrete faces challenges such as higher initial costs than traditional materials. The upfront investment required for polymer concrete installation may deter some buyers, particularly in cost-sensitive markets.

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Limited awareness and education among contractors, engineers, and project owners about the benefits and applications of polymer concrete hinder its widespread adoption.

Expanding into niche segments such as sustainable construction and green building practices also presents opportunities for manufacturers to differentiate their offerings and capture market share.

With increasing awareness of environmental issues and regulations promoting green building practices, there is a growing demand for polymer concrete solutions that offer reduced environmental impact and improved lifecycle performance.

Technological advancements in polymer formulations, manufacturing processes, and installation methods are also driving market trends, enabling innovative and high-performance polymer concrete solutions tailored to meet evolving industry needs.

Key Takeaways from the Market Study

  • Based on material type, the epoxy based is accounted to hold a market share of 30.1% in 2024.
  • The United States is expected to register at a CAGR of 4.4% by 2034.
  • The United Kingdom registers significant growth, projected at a CAGR of 3.1% by 2034.
  • Based on the end-user, the residential and municipal segment is accounted to hold a market share of 47.6% in 2024.

“The augmenting demand for durable and sustainable construction materials depicts a boom in infrastructure development activities worldwide, particularly in emerging economies, automatically raising a need for construction materials that offer superior performance, longevity, and environmental benefits, thus pushing the polymer concrete market,” comments a Future Market Insights analyst.

Competitive Landscape

Key strategies include innovation in formulations, customization options, and strategic partnerships. Technological advancements, regulatory compliance, and pricing strategies drive competition, shaping the market dynamics.

Some of the key developments are

In January 2022, WACKER inaugurated a Moscow Laboratory focusing on cement and concrete additives as part of its Innovation Hub for Cement and Concrete. The lab aimed to enhance moisture protection for cement and concrete materials during storage and application.

In September 2023, Dow introduced low-carbon, bio-based, and circular propylene glycol solutions in Europe, emphasizing sustainability and reducing environmental impact.

Top Key Players

  • BASF SE
  • Sika AG
  • Wacker Chemie AG
  • Dudick Inc.
  • ACO Group
  • Kwik Bond Polymers LLC
  • Sauereisen Inc
  • Hubbell Power Systems Inc.
  • Forte Composites Inc.
  • Ulma – Architectural Solutions
  • Sandmix Sp. z o.o. S.K.
  • Dow Chemical

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More Valuable Insights Available

Future Market Insights offers an unbiased global polymer concrete market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand market opportunities, the polymer concrete market is segmented based on Material Type (Polyester, Vinyl Ester, Epoxy Based, Others), Resin Type (Natural Resin, Synthetic Resin), Application (Solid Surface, Countertops, Outdoor Seats & Benches, Waste Containers, Pump Bases, Flooring Blocks, Chemical Containments, Trench Drains, Others), End Use [Industrial (Energy & Utilities, Pulp & Paper, Chemicals, Metallurgy, Food Processing, Automotive, Other Industrial), Residential & Municipal (Buildings, Roadways, Pipes & Tunnel Liners, Bridges, Others), Commercial (Service Stations, Retail Spaces, Other Commercial Establishments)], and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, 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 ~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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Adsorbent Market Poised for Strong Growth: Projected to Surge from USD 5.76 Billion in 2024 to Over USD 10.12 Billion by 2034

 

The adsorbent market, valued at approximately USD 5,757.10 million in 2024, is set for significant growth, with projections indicating it will exceed USD 10,117.20 million by 2034. This expansion reflects a robust compound annual growth rate (CAGR) of 5.80% over the decade. This upward trajectory underscores the increasing demand for adsorbents across various industries, driven by advancements in environmental management, industrial processes, and healthcare applications, highlighting the sector’s crucial role in addressing contemporary challenges and fostering sustainable solutions.

Demand for adsorbents used in air pollution management applications is rising as concerns regarding air quality and its effects on human health become more prominent. Pollutants including nitrogen oxides (NOx), sulfur dioxide (SO2), and volatile organic compounds (VOCs) can be effectively removed from vehicle exhaust and industrial emissions by using adsorbents like activated carbon and zeolites. The need for adsorbent-based air purification systems is growing as governments impose more stringent rules to reduce air pollution.

Adsorbent applications in water treatment are expanding due to the need for clean water. Adsorbents are used to treat drinking water, industrial wastewater, and groundwater to remove impurities such as heavy metals, organic pollutants, and microbes. The demand for efficient adsorbent-based water treatment solutions is rising due to urbanization, population growth, and industrial activity. This is particularly true in areas where water shortages and pollution problems are present.

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Rapid industrialization, urbanization, and infrastructural development are occurring in developing countries, especially in Asia-Pacific, Latin America, and Africa. The need for adsorbents in pollution control and environmental remediation applications is being driven by this rise, which is being accompanied by rising pollution levels and environmental concerns. The need for adsorbents in water treatment, healthcare, and pharmaceutical applications is also increasing due to these regions’ developing healthcare infrastructure and growing living standards. The demand for adsorbents is generally increasing, helped by the growing market potential in developing nations.

Key Takeaways from the Adsorbent Market Report

  • The global market size stood at US$ 4,718.30 million in 2019.
  • The molecular sieve segment holds 41.60% of market shares in 2024.
  • The petroleum & petrochemical segment captured 31.50% of market shares in 2024.
  • The market size in the United States is projected to rise at a 3.20% CAGR through 2034.
  • The market size in Germany is anticipated to develop at a 2.70% CAGR through 2034.
  • The market size in Japan is estimated to surge at a 2.40% CAGR through 2034.
  • The market size in India is expected to increase at an 8.40% CAGR through 2034.

Competitive Landscape

The adsorbent industry is characterized by strong competition among prominent companies, contending for market dominance and competitive advantage. Leading organizations such as BASF SE, Calgon Carbon Corporation, and Arkema Group use strategic initiatives such as product innovation, R&D, and mergers and acquisitions to retain their competitiveness and growth. These organizations use their technological knowledge, worldwide reach, and strong brand name to distinguish their services and seize market opportunities in a variety of sectors and applications.

Recent Developments

  • In October 2023, Zeolyst International introduced a branded product line. The new product portfolio brand names are Opal Renew, Opal Infinity, Opal Pure, and Opal Blue. The new brands represent a commitment to driving improvements in zeolite catalysis and adsorption.
  • In June 2023, Clariant introduced Desi Pak® Eco moisture adsorbing packets. It uses bio-based paper derived from sustainably farmed raw materials. They’re intended to assist manufacturers and distributors in preserving sealed packed items from moisture damage.

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Adsorbent Market Segmentation

By Product Type:

  • Activated Alumina
  • Activated Carbon
  • Molecular Sieve
  • Clay
  • Silica Gel
  • Polymeric Adsorbent

By Application:

  • Petroleum & Petrochemical
  • Chemicals
  • Water Treatment
  • Air Separation & Drying
  • Pharmaceutical
  • Food Processing
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Japan

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 ~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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Website: https://www.futuremarketinsights.com
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Coal Tar Pitch Market Poised for Strong Growth with Projected CAGR of 6.20% from 2024 to 2034

Coal Tar Pitch Market
Coal Tar Pitch Market

 

The market for coal tar pitch is anticipated to grow at a 6.20% compound annual growth rate (CAGR) between 2024 and 2034. This market is expected to see a sharp increase in value, from its current value of USD 5,076.30 million in 2024 to a startling USD 9,237.50 million by 2034.

The aluminum industry is the largest consumer of coal tar pitch. It is used as a binder in the production of carbon anodes, which are used in the electrolytic process of producing aluminum. The demand for aluminum is constantly increasing due to its lightweight, excellent conductivity, and corrosion resistance properties. Global aluminum consumption is expected to reach 72 million metric tons by 2030, which will drive the demand for coal tar pitch.

The steel industry is another major consumer of coal tar pitch. It is used as a raw material in the production of electrodes used in electric arc furnaces for steel production. The steel industry is expected to grow due to the increasing demand for steel in the construction and infrastructure sectors. Global steel production is expected to reach 1.9 billion metric tons by 2025, which will drive the demand for coal tar pitch.

The construction industry is also a significant consumer of coal tar pitch. It is used in the production of asphalt and waterproofing membranes, which are used in roofing, pavement, and other infrastructure projects. The demand for coal tar pitch in the construction industry is expected to increase due to the growing investments in infrastructure development.

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The demand for coal tar pitch is also increasing in the graphite electrode industry. Graphite electrodes are used in the production of steel and other metals using electric arc furnaces. The demand for graphite electrodes is increasing due to the growing steel production and the shift towards electric arc furnaces from traditional blast furnaces. Coal tar pitch is used as a binder in the production of graphite electrodes, which will drive the demand for coal tar pitch in the graphite electrode industry.

“The chemical industry is another important consumer of coal tar pitch. It is used as a raw material in the production of various chemicals like naphthalene, phenol, and creosote. The demand for these chemicals is increasing due to their various applications in different industries like construction, automotive, and healthcare. Coal tar pitch is also used in the production of carbon black, which is used in the manufacturing of tires, rubber products, and other industrial applications.” – Says an analyst at FMI.

Key Takeaways from the Coal Tar Pitch Industry 

  • The coal tar pitch market is expected to rise at a CAGR of 3.40% in the United States, driven by the growing use of the material in the manufacturing of paints and coatings.
  • The market is expected to register a CAGR of 6.90% in China, driven by the country’s aluminum industry and the need for graphite electrodes in steel production.
  • In Germany, the market is expected to progress at a CAGR of 2.90% due to the large steel industry.
  • Japan’s renewable energy drive is expected to drive the market to 2.60%, with coal tar pitch playing a significant role in wind turbine production.
  • South Korea’s coal tar pitch market is expected to develop at a CAGR of 2.70%, driven by government initiatives and infrastructure growth in high-tech industries and advanced materials.

Competitive Landscape

In recent years, manufacturers have redirected their attention toward emerging countries to cater to the growing demand for various applications. Furthermore, several leading players in the industry are focusing on expanding their manufacturing capacity, launching new products, conducting research and development, and pursuing mergers and acquisitions to strengthen their market position.

Top Key Players

  • Koppers Inc.
  • Rain Industries Limited
  • Himadri Speciality Chemical Ltd.
  • Bilaspur Bitumen Products Ltd.
  • Shanghai Baosteel Chemical Co., Ltd.
  • DEZA a.s.
  • Nippon Steel Chemical Co., Ltd.
  • Industrial Química del Nalón S.A.
  • JFE Chemical Corporation
  • RuTGERS Group

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Key Segmentation of the Market

By Grade:

  • Industrial Pitch
  • Blinder & Impregnation Pitch

By Application:

  • Aluminum Smelting
  • Electrodes
  • Roofing and Pavement
  • Refractories
  • Carbon Fiber
  • Others

By Region:

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