Market Research Blog – Page 1569 – New Product Development

Acoustic Wave Filters Market is Projected to Grow at a Strong CAGR of 10.8% by 2033 | Future Market Insights, Inc.

The global acoustic wave filters market is anticipated to have a valuation of approximately USD 10.6 billion in 2023. Projections indicate a substantial growth trajectory, with expectations that the market will surge to reach USD 29.7 billion by the year 2033. This forecast suggests a remarkable Compound Annual Growth Rate (CAGR) of 10.8% from 2023 to 2033.

One of the prime factors driving growth is the increasing usage of smartphones and various electronic devices. Owing to the increasing smartphone penetration, the adoption of radio frequency (RF) filters namely, bulk acoustic wave (BAW) filter, has increased for protecting sensitive receiver paths in smartphones. This is in turn boosting the sales of acoustic wave filters.

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The telecommunications industry is witnessing a substantial expansion of infrastructure, both in advanced and emerging nations, attracting numerous semiconductor producers. A noteworthy trend in the telecom sector is the increasing adoption of next-generation LTE connections.

In addition, the pervasive use of wireless communications has experienced significant acceleration in recent years, driven by a growing demand for power-efficient and reliable semiconductor products. This trend presents promising opportunities for the SAW filters market.

With the rising popularity of cellular phones and wireless connectivity, semiconductor companies are focusing on developing cost-effective, secure, and high-performance SAW filters. These innovations are expected to contribute significantly to the overall market growth.

Key Takeaways

Owing to increasing adoption of RF filter technologies by aviation customers, the U.S. is expected to hold a market share of over 89% in North America.
In Indonesia, the demand for acoustic wave filters is likely to rise at a CAGR of 15.3% over the forecast period.
China is estimated to emerge as a highly lucrative market, accounting for a value share of over 54% in the East Asia market.
By 2031, India is projected to hold a market share of nearly 54% in South Asia and Pacific, owing to rise in investments in the public transport infrastructure.
The telecommunications sector is dominating the segment and is estimated to register a maximum revenue share of over 33.5% by the end of 2021.

Key Drivers:

Increasing adoption of bulk acoustic wave (BAW) filters for wireless systems with boost the market growth.
Rising smartphone penetration will fuel the demand for acoustic wave filters.
Increasing usage of RF filter technology in RADAR systems, surveillance, electronic, navigation, and others will bolster the growth of the market.

Key Restraints:

Volatility in the cost of raw material is a factor hampering the market growth for acoustic wave filters.
The COVID-19 pandemic has negatively impacted the growth of the market.

Leading Key Players:

KYOCERA Corporation
Murata Manufacturing Co. Ltd
Microchip Technologies
Skyworks Solutions Inc.
Qualcomm Technologies Inc.
Qorvo Inc.
Tai-Saw Technology Co. Ltd.
Microsaw OY
API Technologies Corp
Crystek Corporation
Anatech Electronics Inc.
Taiyo Yuden Co. Ltd.
Abracon
Broadcom
Akoustis

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Acoustic Wave Filters Market by Category:

By Type:

SAW Filters
- RF SAW Filters
- IF SAW Filters
BAW Filters
- Solidly Mounted Resonator BAW Filters
- Film Bulk Acoustic Resonators

By Material:

Quartz
Lithium Niobate
Lithium Tantalate
Langasite
Others

By Application:

Consumer Electronics
Telecommunications
Automotive
Aerospace & Defense
Healthcare
Industrial
Others

By Region:

North America
Latin America
Europe
Asia Pacific
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.

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Radar & LiDAR Technology for Railways Application Market is Growing at a Strong CAGR of 9.1% by 2033 | FMI

The global market for radar and LiDAR technology for railway application is expected to be worth USD 1.5 billion in 2023. The market is expected to reach USD 3.7 billion by 2033, growing at a 9.1% CAGR from 2023 to 2033. The market is likely to be driven by growing demand for radar and LiDAR technology sensors in nations including India and Indonesia, as well as higher expenditures in advancements in autonomous railway systems.

Radar and LiDAR technology are vital in railway applications. Such technologies are capable of helping track railway track faults, avoid rail collisions, detect pedestrians, monitor and regulate trains, and for a variety of other applications.

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Radar systems are primarily employed for train traffic control and the detection of items on train tracks. In contrast, LiDAR technology sensors are utilized to perform inquiries to collect information about the railway track’s surrounding land in order to plan the most potent railway route.

Key Takeaways:

The radar & LiDAR technology market for railway applications is expected to grow at a CAGR of 7% over the next two decades (2018-2022).
The market in the United States is estimated to continue to expand at a CAGR of nearly 10.4% through 2033.
According to the report, the United States will account for 19.8% of the market in 2022.
The device segment was predicted to account for 58.9% of the market in 2022.
The radar sensor modules segment was projected to account for 70.9% of the market in 2022.

“Developments are well-synchronized and corresponded to speed up the industry’s embrace of smart railways, leading to a northward pattern in revenue generation predicted for the global Radar and LiDAR for railways application market between 2023 and 2033,” says an FMI analyst.

Competitive Landscape

Companies in the market use a variety of tactics of expansion to broaden their presence across lucrative markets. Product launches, collaborations with key players, agreements to purchase, and the strengthening of regional and global distribution networks are examples of these strategies. As an instance:

Bosch launched an innovative LiDAR sensor in July 2020. By illuminating the target objects with laser light and measuring the reflected pulses, the new sensor can determine the distance between them. The LiDAR has a detection range of 250 meters and can recognize up to 24 objects at once. The latest sensor is employed in railway applications for safety.
ELVA-1 evaluated their novel PPC-10G (70/80 GHz) wireless radios for train-to-ground connectivity in October 2020. This system was created to address the issue of providing high-speed trains with broadband Internet access on straight sections of the railway.

Key Players

Radarxense BV
Radar Vision
Earth Radar Pty Ltd
Bosch Mobility Solutions
Navtech Radar
ELVA-1
DEUTA-WERKE GmbH
Hupac Intermodal
BlackBerry Limited
Leica Geosystems AG

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https://www.futuremarketinsights.com/reports/radar-and-lidar-technology-for-railways-application-market

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Radar & LiDAR technology for railway applications market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights on the basis of Radar Technology (Radar Sensor Modules, Service), LiDAR Technology (Devices, LiDAR Processing & Mapping Software, Services), Application (Railway Track Faults Detection, Rail Collision, Pedestrian Detection, Train Tracking & Control) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)

Key Segments Covered in the Radar & LiDAR Technology for Railways Application Market

Radar Technology:

Radar Sensor Modules
- Speed Measurement Radar Sensors
- Distance Measurement Radar Sensors
Service
- Integration & Installation Services
- Support Services

LiDAR Technology:

Devices
- Mobile LiDAR Scanners
- Aerial LiDAR Drones
- On-board LiDAR Sensors
LiDAR Processing & Mapping Software
Services
- LiDAR Survey & Mapping Services
- Consulting Services
- Support Services

Application:

Railway Track Faults Detection
Rail Collision
Pedestrian Detection
Train Tracking & Control
Others

Region:

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

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Steady Expansion: Silicon Fertilizer Market Projected to Reach USD 178 Million by 2034 with 3.1% CAGR

The global silicon fertilizer market was valued at USD 131 million in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 3.1% over the forecast period, reaching USD 178 million by 2034.

The primary factor driving this market is the rapid expansion of the agriculture sector, fueled by a significant rise in the global population, especially in emerging economies. As populations increase, so does the demand for food, which in turn drives the need for greater agricultural productivity and efficiency. Silicon fertilizers are essential in meeting this demand, as they significantly enhance the yield and quality of a variety of crops, including wheat, cucumber, barley, corn, sugarcane, and tomatoes.

The rising incidence of plant diseases such as ring spots and leaf freckling rust is significantly driving the adoption of silicon fertilizers. These diseases can severely impact crop health and yield, leading farmers to seek effective remedies.

Silicon fertilizers have demonstrated their effectiveness in bolstering plants’ resistance to these diseases, as well as to adverse weather conditions and pests. By strengthening plant cell walls, silicon enhances crops’ ability to endure heat, drought, and cold stress, thereby reducing crop losses and boosting overall yields.

Key Takeaways from the Silicon Fertilizer Market Report

The silicon fertilizer market registered a CAGR of 3.1% during the historical period, which is expected to continue over the forecast period as well.
Potassium silicate is a prominently used silicon fertilizer, which is projected to obtain a share of 22.4% in 2024.
The powder form is anticipated to obtain a market monopoly by achieving 78.5% in 2024.
The silicon fertilizer sector in Canada is estimated to expand at 3.1% CAGR over the forecast period.
In Italy, the sales of silicon fertilizers are surging at 3.6% CAGR.

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Competitive Landscape

Key players in the silicon fertilizer industry are developing tailored formulations designed for specific soil types, crops, and regional conditions, enhancing effectiveness and providing targeted solutions.

Additionally, these companies are focusing on ensuring that their fertilizers are compatible with organic farming practices, catering to the growing demand from organic farmers. As they expand into new markets, they are also emphasizing long-term benefits, such as reduced crop losses and improved yields, to highlight the value of their products.

The market is anticipated to see a rise in adoption in the region. Key players are investing in field trials and educational programs to demonstrate the benefits of silicon fertilizers to farmers and encourage their use.

In addition, companies are collaborating with agricultural organizations and extension services to enhance product visibility and credibility. They are also implementing targeted marketing strategies to engage directly with farmers and address their concerns.

Industry Updates

In February 2024, Agriloops, which is a Rennes-based sustainable aquaculture firm, revealed that it has gained USD 13.95 million in funding, alongside grants and debts. The crowdfunding campaign that took place in the Sowefund platform, helped in the completion of the funding round.
In August 2023, EuroChem-Karatau introduced a chemical complex for the production of mineral fertilizer. The production capacity was a minimum of 1 million tons of products per year.

Key Players of the Silicon Fertilizer Industry

Plant Tuff Inc.
Maxsil
Redox Pty Ltd.
BASF SE
The Mosaic Company
Agripower
Denka Co. Ltd.
Aries Agro Ltd.
Compass Minerals International, Inc.
Yara International ASA
Others

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Key Segments of the Silicon Fertilizer Market

By Product Type:

Various product types segmented in the report are potassium silicate, calcium silicate, and sodium silicate.

By Form:

Different forms of the product are solid, powder, and liquid.

By Application:

Multiple applications of the product are field crops, hydroponics, horticultural crops, and floriculture.

By Region:

The product is traded across regions like North America, Latin America, Europe, East Asia, South Asia, the Middle East and Africa (MEA), and Oceania

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Pea Milk Market on the Rise: 10.4% CAGR and Growing Influence in the Plant-Based Milk Arena

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, pea milk sales are projected to reach USD 283.5 million by 2032, growing at a robust CAGR of 10.4% over the decade.

FMI analysis reveals that while the original flavor was the leading category in 2022, the vanilla flavor segment is anticipated to retain its dominance throughout the forecast period. Vanilla, being a cost-effective and globally popular flavor, is expected to become increasingly prevalent in the pea milk market.

Pea milk, derived from dry peas, offers a range of flavors such as original, unsweetened, vanilla, and chocolate. Its creamy texture and superior nutritional profile compared to other plant-based milks are key factors driving consumer preference, thereby fueling the growth of the pea milk market in the foreseeable future.

The expanding number of health-conscious and vegan consumers worldwide is a significant driver for the pea milk industry. Additionally, growing awareness about lactose intolerance due to insufficient lactase enzyme production is boosting demand for vegan and dairy-free products. Plant-based milk alternatives are gaining popularity across emerging and established markets alike.

The number of people with dairy allergies is rising steadily. Additionally, growing disposable incomes and increased health awareness are expanding the pea milk market. The introduction of new, healthy ingredients by various market players also significantly contributes to this growth.

Explore the Details View Full Report @ https://www.futuremarketinsights.com/reports/pea-milk-market

Key Takeaways from Market Study

The United Kingdom is one of Europe’s most promising markets for pea milk. An increasing proportion of the British population will switch to a vegan, vegetarian, or pescatarian diet by 2022.
The market for pea milk in the United States is expected to grow rapidly, expanding at a CAGR of nearly 8.2% between 2022 and 2032. The US market is expected to have a market share of 60%.
With the outbreak of the COVID-19 pandemic, consumers are re-evaluating and changing their drinking and eating habits. The market is expected to grow at a rate of 9.1% from 2022-2023.
PET bottles, which are primarily used in the packaging of drinking water and beverages, are becoming increasingly popular in the pea milk industry.
Tetra packs of pea milk are expected to account for 40% of global market demand over the next decade. Sales are being boosted by the high convenience attributed to its lightweight and durability.

Competitive Landscape

Leading pea milk manufacturers are concentrating on expanding their presence in mainstream retail markets by offering a wide range of product options. They are also prioritizing strategic partnerships with key industry players and pursuing acquisitions to strengthen their market position.

Wunda, a new pea-based beverage from Nestlé, is “epic in everything” that milk is used for. That is, it can be eaten plain, poured over cereal, mixed into hot beverages, frosted, cooked with, and so on.
Sproud Original Drink is a plant-based milk that tastes like milk. It is as white as milk and contains no allergens, lactose, nuts, Pea, or genetically modified organisms. Furthermore, it is high in protein and has a very low sugar content. Ideal for a healthy diet.

Key Companies Profiled

Ripple Foods
Sproud
Bolthouse Farms
Snappea Foods
Qwrkee Foods Ltd
Devon Garden Foods
VLY Foods
Nestle SA
Freedom Foods
Mighty Pea
Drinkstar
Asia Pte Ltd

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Pea Milk Market by Category

By Flavor, Pea Milk Market is segmented as:

Original Flavored Pea Milk
Vanilla Flavored Pea Milk
Chocolate Flavored Pea Milk
Barista Flavored Pea Milk

By Packaging Material, Pea Milk Market is segmented as:

Tetra Packs
PET Bottles

By End-User, Pea Milk Market is segmented as:

Individual Consumers
HoReCa
Gyms & Cafes

By Sales Channel, Pea Milk Market is segmented as:

Brick & Mortar Stores
Online Retail Channels

By Region, Pea Milk Market is segmented as:

North America
Latin America
Europe
Middle east and Africa
East Asia
South Asia
Oceania

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Ready-to-Drink Tea Market Accelerates with 8% CAGR, Projected Growth to USD 72.9 Billion by 2033

The ready-to-drink (RTD) tea market is valued at USD 34.3 billion in 2023 and is projected to grow to USD 72.9 billion by 2033, with an anticipated CAGR of 8% over the forecast period.

Growing Popularity of Green Tea:

The global market for green tea is expanding as more people embrace its health benefits. Increased consumer awareness about its antioxidant properties and role in weight management is driving this growth. As a result, many individuals are incorporating green tea into their daily routines.

The growing demand for portable and convenient ready-to-drink beverages is fueling the global market. Consumers favor ready-to-drink tea that features natural ingredients, supporting sustainability and minimizing toxicity. Shifts in lifestyle, busy schedules, and evolving drinking habits are driving greater adoption of these convenient tea options.

The rising demand for organic, natural, and diverse flavored ready-to-drink teas is driving global market growth. Manufacturers are providing an array of ready-to-drink green tea options, including flavors infused with herbs, fruits, and spices. This variety allows consumers to choose a tea that best suits their tastes and preferences.

Increased awareness of healthy digestion, physical vitality, and improved stamina is boosting global demand for green tea. Innovations, ongoing research and development, and a focus on sustainability are driving advancements in the market.

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Key Takeaways:

The ready-to-drink (RTD) tea market is predicted to register a CAGR of 8% with a valuation of US$ 72.9 Billion in 2033.
In the historical period, the market secured a valuation of US$ 33.0 Billion in 2022.
The United States is estimated to lead the global market by securing a share of 2.7% by 2033.
Germany is significantly growing the global market size by capturing a share of 4.9% during the forecast period.
With a share of 3.2%, Japan is anticipated to drive the global market during the forecast period.
Australia is projected to capture a share of 2.7% in the global market by 2033.

Competitive Landscape

Leading brands are now implementing targeted social media strategies to engage tech-savvy young consumers who prioritize value, customization, and seamless digital access. With the rise in internet penetration, there has been a substantial increase in online users.

Key players in the ready-to-drink tea industry are strategically promoting their products across various social media platforms. This group media marketing approach is anticipated to drive significant growth opportunities for the RTD tea market during the forecast period.

Recent Developments in the Global Ready-to-Drink (RTD) Tea Market

In 2021, Coca-Cola Company launched its ready-to-drink products in a variety of ranges including Honest Tea, Fuze Tea, and Gold Peak. The company expands its portfolio due to the growing demand for ready-to-drink tea.
Unilever owns the ready-to-drink tea brand Lipton to promote sustainable and eco-friendly tea products.

Key Players Operating in the Global Market

DANONE
HARNEY & SONS FINE TEAS
NESTLE S.A.
SNAPPLE BEVERAGE CORP.
STARBUCKS CORPORATION
BEAM SUNTORY, INC.
TATA CONSUMER PRODUCTS LIMITED
THE COCA-COLA COMPANY
THE REPUBLIC OF TEA
UNILEVER PLC

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Ready to Drink (RTD) Tea Market by Category

By Product Types:

Herbal
Black tea
Green tea
Others

By Sales Channel:

Direct Sales
Indirect Sales

By Region:

North America
Europe
Latin America
Asia Pacific
Middle East Africa

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Yellow Pea Protein Market Booms with a 14.4% CAGR, Projected to Reach USD 11.5 Billion by 2033

According to the FMI report, the yellow pea protein market is expected to reach a valuation of USD 3.3 billion in 2023, with projections to reach USD 11.5 billion by 2033, driven by a forecasted CAGR of 14.4%.

Food and beverage manufacturers are increasingly incorporating yellow pea protein into nutrition supplements, including energy drinks and smoothies. This trend is driven by the rising consumer demand for vegan, high-fiber, clean-label, and non-toxic food products, which is fueling market growth. Additionally, growing health awareness and the rise in cardiovascular diseases are contributing to the heightened adoption of yellow pea protein.

Market opportunities in the yellow pea protein sector are driven by increasing disposable income, urbanization, population growth, and shifting dietary preferences. Manufacturers are leveraging advanced technology and natural ingredients to develop food and beverage products, enhancing both shelf-life and quality. This approach includes incorporating vegan ingredients, which has significantly boosted global product demand. The rise in consumer preferences for plant-based milk, vegan burgers, milkshakes, and supplements is further propelling growth in the yellow pea protein market.

High Cost of Yellow Pea Protein Limits the Market Growth

The market is promoting a healthy lifestyle by increasing the production of plant-based products. However, key manufacturers faced certain roadblocks that declined the market growth, which included the increasing cost of yellow pea protein supplements and Isolates restraining the market growth.

The low availability of plant-based raw materials and alternate substitutes limits the market growth. Moreover, a few consumers suffer from lactose intolerance hinders the market.

Key Takeaways:

The yellow pea protein market is expected to have a valuation of US$ 11.5 billion by 2033.
With a CAGR of 14.4%, the global market is increasing during the forecast period.
The market in the United States is anticipated to capture a CAGR of 8.9% through 2033.
With a CAGR of 11.6%, the United Kingdom yellow pea protein market significantly uplifts during the forecast period.
German market is expected to secure a CAGR of 9.8% over the forecast period.
China market is capturing a CAGR of 13.2% by 2033.

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Competitive Landscape

Prominent players in the market are consolidating their positions by establishing direct relationships with farmers to streamline costs. They are innovating vegan-based products in response to consumer demand and introducing high-quality plant-based offerings to capture consumer interest.

These key players are heavily investing in research and development to enhance their global market presence. Additionally, they are employing various marketing strategies such as partnerships, mergers, collaborations, agreements, and new product launches to expand their market reach and achieve optimal outcomes.

Recent Developments in the Market are

Cargill and Puris Protein LLC, a food producer, launched its new product based on yellow pea protein for functional drinks, nutraceuticals, and dietary supplements.
In 2021, Puris Proteins LLC announced its new manufacturing plant to expand its business in yellow pea protein in the United States.

Key Players in the Market are

Cargill Inc.
DuPont de Nemours, Inc.
The Scoular Company
Axiom Foods, Inc.
Glanbia Ple
Roquette Frères
Kerry Group PLC
Bata Food
Shandong ianyan Group

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Yellow Pea Protein Market by Category

By Product Type:

Protein Concentrates
Protein Isolates
Textured Protein
Hydrolyzed Protein

Processing Type:

Dry Processing
Wet Processing

End Use:

Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-based Products
- Functional Beverages
- Others
Animal Feed
Nutraceuticals
Sports Nutrition
Infant Nutrition
Cosmetic & Personal Care

By Region:

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

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Projected Growth: Corn Wet Milling Services Market Value to Exceed USD 133,825.5 Million by 2033

The global corn wet milling services market is projected to have a moderate-paced CAGR of 4.9% during the forecast period. The current valuation of the market is USD 82,555.2 million in 2023. The market value is anticipated to reach a high of USD 133,825.5 million by the year 2033. A historical CAGR of 2.2% has been recorded by the experts of Future Market Insights for the concerned market.

Corn wet milling is a prevalent way of breaking down maize kernels into its constituent parts, such as fiber, protein, corn oil, and corn starch. The vast bulk of its products find application in the food industry. Its main byproduct, starch, is used for producing ethanol, modified starches, and sweeteners for industrial and food applications. Rising demand from the food and beverages sectors is primarily driving market growth.

The surge in global food consumption stands as one of the primary catalysts propelling the growth of the corn wet milling services market. The rising demand for multi-functional kernels in the industrial food and livestock sectors, as well as the increased use of celiac meal in animal feed, promote market growth. Growing demand for dent corn due to its high fructose value, as well as increased consumption of corn gluten meal-based animal feed products, also have an impact on the market. Further, rising consumer health awareness, expanding disposable income, the impact of media on consumers, and increased food spending are all helping the corn-wet-milling industry.

Compliance with stringent regulations and varying standards around the world is a constraint on the market. Growing competition also poses a challenge to the market’s growth. Inflation is anticipated to remain above the upper band in key countries in the short term, further impacting the market. Price fluctuations for raw materials also contribute to the constraints faced by the corn wet milling services market over the forecast period.

The global population continues to grow at an unprecedented rate, particularly in nations with lower incomes. This, together with the tendency of growing urbanization, has resulted in higher prices for food products. Because of the rapid pace of modern life, people have become more reliant on convenience foods. The market for easy-to-prepare food products is expanding, which has raised the need for corn wet milling services.

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Key Takeaways

On a global scale, the United States market accounted for 27.0% of the market in 2022.
From 2023 to 2033, the corn wet milling services industry in the United Kingdom is expected to grow at a 2.4% CAGR.
In 2022, Japan’s corn wet milling services market accounted for 7.1% of the global market.
The Indian market for maize wet milling is expected to grow fast, with a CAGR of 25.9% over the forecast period.

Competitive Landscape

Various businesses are focusing on organic growth tactics such as new launches, product approvals, and other factors like patents and events. Acquisitions, partnerships, and collaborations were some of the inorganic growth strategies noticed in the market. These initiatives have paved the way for market participants to grow their business and client base. With expanding global demand for corn wet-milling, market players in the corn wet milling services market are expected to benefit from lucrative opportunities for development in the future.

Key Developments in the Corn Wet Milling Services Market

A major player in the global corn wet milling services industry, Ingredion, Inc., said in October 2018 that it would invest USD 60 million in the region of Asia Pacific, including increasing China’s capacity for corn wet milling services and starch manufacturing.
To begin producing modified starch products at the company’s corn wet milling plant in Davangere, India, Cargill India, a significant player in the corn wet milling services sector, announced an additional investment of about US$ 40 million in September 2018.

Key Companies Profiled

Agrana Beteiligungs-AG
Ingredion Inc.
Archer Daniels Midland Company, Inc.
Cargill
Bunge Limited
Agri-Industries Holding Limited
Grain Processing Corporation
Roquette Corporate
Andritz Group
Bunge Limited
Global Bio-Chem Technology Group Company Limited
Tate & Lyle PLC

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Corn Wet Milling Services Market by Category

By Equipment:

Milling
Steeping

By Type:

Waxy
Dent

By Application:

Steepwater
Mill
Food
Refinery
Starch modification
Ethanol production
Feed area
Others

By End Products:

Ethanol
Sweeteners
Starches
Corn oil
Gluten meal and feed

By Region:

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

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Global Agar Market Set to Grow: Valuation to Hit USD 478.4 Million by 2033 | Future Market Insights Inc.

The global agar market size is expected to experience substantial growth from 2023 to 2033. According to Future Market Insights, the market is anticipated to exceed USD 292 million in 2023 and reach USD 478.4 million by 2033, expanding at a compound annual growth rate (CAGR) of 5% over the forecast period.

Agar is derived from the polysaccharide agarose, which serves as the structural component in the cell walls of agarophytes from the Rhodophyta (Red algae) phylum. Commercially, agar is predominantly sourced from red algae genera such as Gracilaria, Gelidium, and Gelidiella. Gracilaria species, initially cultivated using Gracilaria chilensis from the southern coast of Chile, are found in various cold-water regions including the Atlantic coast of Canada. Gelidium seaweed, on the other hand, is primarily harvested along the western coast of Morocco, the southern coast of Portugal, and the northern coast of Spain. Some Gracilaria species have also adapted to tropical waters, thriving in locations like Indonesia and Thailand.

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The growing preference for halal and kosher food products, along with the rising use of agar as a natural ingredient across the food, pharmaceutical, and cosmetics industries, is driving market growth. Currently, the global agar market is experiencing notable trends, such as its application in the bakery industry due to its high-temperature resistance and its role as an effective gelling agent in dairy products.

Key Takeaways from Agar Market:

The global agar industry size expanded at a CAGR of 2.1% from 2018 to 2022.
In 2018, the global market size stood at US$ 258.6 million.
The market size stood at US$ 281 million in 2022.
The powder segment captured 55.6% of market shares in 2022.
The food and beverage application held 34.6% shares in the global market.
In 2022, the United States captured 28.9% shares in the global market.
In 2022, China captured 5.5% shares in the global market.
In 2022, India captured 6.7% shares in the global market.
In 2022, Japan captured 4.2% shares in the global market.

Competitive Landscape

The agar market is highly competitive, with major players employing diverse strategies to maintain their market positions and foster growth. To meet evolving customer and industry demands, these key players place a strong emphasis on continuous product development and innovation. They invest significantly in research and development to enhance the features, applications, and quality of agar-based products. By staying ahead in product offerings, they differentiate themselves from competitors in the market.

Recent Developments:

In February 2023, Thermo Fisher Scientific Inc., a global leader in providing scientific services, announced the release of Brilliance GBS Agar for the detection of Group B streptococci (GBS) during pregnancy. With the use of its own InhibigenTM technology, the new agar is made to simplify the testing process for clinical technicians, provide more accurate findings, and speed up patient treatment.

In July 2021, The Tripura Agar Wood Policy 2021, developed by Tripura’s state government in India, called for doubling agarwood plantations by 2025. The state might potentially earn Rs 2,000 crore from the agar trade.

Key Players in the Global Market

Neogen Food Safety
HISPANAGAR
AGARMEX S.A.
INDUSTRIES ROKO S.A.
PT. Agrarindo Bogatama

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Agar Market Segmentation

By Application:

Food & Beverages
- Bakery
- Confectionery
- Dairy
- Canned Meat/Poultry Products
- Beverages
- Sauces, Creams, & Dressings
- Others
Bacteriological
- Culture Media
- Microbiology
Technical Applications
- Cosmetology
- Medical Applications
Others

By Form:

Splits
Powders

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific Excluding Japan (APEJ)
The Middle East & Africa
Japan

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Carbon Nanotubes Market to Surpass US$ 2,428.1 million in 2033, Driven by Electronics, Plastics, and Energy Storage Demand

Carbon Nanotubes

The carbon nanotubes industry size is anticipated to surpass UD$ 970.9 million in 2023 and is predicted to attain a valuation of USD 2,428.1 million by 2033. The industry share is projected to thrive at a CAGR of 9.6% from 2023 to 2033.

Carbon nanotubes possess exceptional qualities including remarkable strength, electrical and thermal conductivity, as well as flexibility, making them highly sought after across diverse sectors such as electronics, aviation, energy, and healthcare. These unique attributes render them indispensable for various applications within these industries. For instance, in electronics, they are utilized for crafting high-performance transistors, conductive films, and flexible displays, while in aerospace, they contribute to enhancing the strength and reducing the weight of airplane components.

The burgeoning demand for carbon nanotubes is further fueled by ongoing research and development efforts, with private equity firms, large corporations, and venture capitalists investing significantly in this sector. This influx of capital has provided companies with the resources necessary to ramp up production, innovate product offerings, and explore new applications.

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Collaborations between academia, research institutions, and businesses have facilitated the exchange of knowledge, technology transfer, and the emergence of groundbreaking solutions, thereby catalyzing the expansion of the market. Such partnerships have played a pivotal role in driving advancements in carbon nanotube technology and fostering its widespread adoption across various industries.

Key Takeaways from the Carbon Nanotubes Market

From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 6.3%.
The global market size stood at US$ 894.0 million in 2022.
Polymers captured nearly 59.1% share of the market in 2022.
North America held a dominant share, accounting for 27.9% share in 2022.
China secured an 8.1% global market share in 2022.

Recent Developments Observed by FMI:

In January 2023, nanotechnology researchers at The University of Texas at Dallas developed distinctive carbon nanotube yarns that gather mechanical motion energy more effectively than current material-based energy harvesters.
According to Cabot Corporation, a new ENERMAXTM 6 carbon nanotube (CNT) series was developed in March 2021. The ENERMAXTM 6 range of carbon nanotube products from the firm represents the recent development in high-performance CNTs. Due to its high aspect ratio; it has been shown to be the conductive multi-walled CNT product in Cabot’s lineup.
In May 2021, Arevo created a patent-pending technical innovation that enables the 3D printing of things reinforced with carbon nanotubes and carbon fiber. As part of a Series, B fundraising round, the business secured US$ 12.5 million to usher in the next phase of 3D printing and revolutionize the way that manufactured goods are envisioned, created, constructed, and maintained.

Key Players Profiled in the Global Market

Nanocyl S.A.
CNano Technology Ltd.
Showa Denko K.K.
Arkema S.A.
Bayer MaterialScience AG
Chasm Advanced Materials Inc.
Raymor Industries Inc.
Klean Industries Inc.
Toray Industries Inc.
Cheap Tubes

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Key Segments

by Product:

Multi-Walled Carbon Nanotubes (MWCNT)
Single-Walled Carbon Nanotubes (SWCNT)

by Application:

Carbon Nanotubes Application in Polymers
Carbon Nanotubes Application in Energy

by Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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