Market Research Blog

Use of microalgae in enhancing taste, texture, flavor, aroma, and nutritional value of food products are key factors encouraging microalgae applications in the food and beverage sector. According to a recent FMI report, the demand for microalgae in food and beverage sector will surpass a valuation of over US$ 99,623.3 Thousand in 2021, rising at a CAGR of around 3% through the end of 2031.

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According to latest research by Future Market Insights, sander market is set to witness steady growth during 2021-2031. Rapid expansion of industrial and commercial application of sanders in recent years has positively influenced global market trends, owing to economic improvement in both developed and developing economies. As a result, the sander market is set to witness a CAGR of 5.1%-5.9%.

What is Driving Demand for Sander Market?

The key factors driving the demand for sanders includes rapid urbanization, rising popularity of interior home décor and increase in the income of the people. Rapid growth of the furnishing industry is likely to work in the favor of the global sander market.

Further, the growing power tool adoption, rising automotive sales production, rising demand for fastening tools in industrial environments, and rising construction industry are some of the major factors driving the sander market forward. Further, the rapidly growing power tool industry is expected to drive the sander market over the forecast period.

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However, the breakout of the novel coronavirus at the start of 2020 altered the market’s fundamental dynamics. Product sales fell in the first months of 2020 due to temporary production halts in the manufacturing and construction industry and a slowdown in the logistics sector and .

Stay-at-home rules were being enforced in an attempt to reduce the virus’s spread in the community and it correspondingly reduced remodeling and renovation activity, which impacted the growth of the sander market.

Shift to E-commerce Platform will Complement the Sales of Sander Market

In recent years, prominent manufacturers and suppliers are shifting from retail stores to E-commerce websites. Thus, selling their products on various e-commerce platform, in order to cater to a worldwide base of customers. Boom in e-commerce has created immense opportunities for manufacturers and suppliers of sanders. Promotion of sanders through various online channels is estimated to offer lucrative opportunities to the sanders market in the next few years.

US and Canada Sander Market Outlook

North America led the global sander market in the year 2020 and expected to maintain its dominance in terms of both manufacturing and consumption during the forecast period.

High adoption rate of power tools in small and medium scale workshops and growing wood industry is expected to drive the demand for sander in the region.

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Europe Demand Outlook for Sander Market

The demand for sander in the European market is estimated to grow significantly in the upcoming years. The growth of the wood processing industry, construction and automotive industry in the region is anticipated to positively influence the demand for sanders in the forthcoming years.

Moreover, frequent use of sanders in repair and maintenance of building and houses made of woods in the region is expected to augment the demand for sanders in the region.

Some of the leading manufacturers of sander market include

• Bosch Power Tools
• 3M
• Dewalt
• Ingersoll Rand
• Hutchins Manufacturing
• Festool
• Black & Decker
• Atlas Copco
• Makita
• Porter Cable
• GISON
• Tranmax Machinery
• Nittom Kohki
• Ridge Tool Company
• Metabo
• Dynorbital among others.

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

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 Sander Market Report Highlights:

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

Metallic Wire Ropes were first invented between 1831 and 1834 by Wilhelm Albert, a German mining engineer. Due to its toughness and superiority to other ropes made of metal chains or hemp, the metallic ropes were quickly embraced. The Metallic Rope Cords consists of individual steel wires, which are woven into a strand. The number and size of wires must provide the best possible balance between large wires for optimum corrosion safety and abrasion resistance, and smaller wires for the required flexibility and handling.

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The basic material is wire rod, which is cold-drawn into wires of various diameters and strength grades. The wire can be untreated, galvanized or stainless steel type. Galvanized wire provides the rope greater protection against corrosion. In extreme environments a stainless steel rope is used.

The offshore mooring industry is said primarily to drive the wire rope & cords market. Another major driver is the moving towards steel sheaves from plastic sheaves because increasing the life of Metallic Rope Cords drives their adoption. The key restraint in the Metallic Rope Cords market is the increasing use of advanced material ropes and fiber ropes as an alternative for Metallic Rope Cords is expected to have a negative impact on the growth of the Metallic Rope Cords market. Corrosion is a key restraint associated with Metallic Rope Cords as it affects industrial operation by means of delay.

The most important trend in the Metallic Rope Cords market is the increasing demand for lightweight and high durability ropes. Post crude oil crisis the manufacturers of Metallic Rope Cords have witnessed rapid growth in terms of sales.

This is due to growing number of projects related to coal mining, oil exploration, and drilling for other ores and minerals.  Imports of steel from China to the U.S. have had a significant breakthrough thanks to the recent tariffs added by the U.S. government. This will be a driving force for domestic producers as supply from Chinese suppliers is hampered.

“The demand glut in Metallic Rope Cords has led industry players to resort to production cuts to cope with the ongoing crisis, especially in this industry. The recovery of industrial and construction activities is hindered by the supply disruptions, timely availability of labor and material and low fixed assets investment.

European Union and U.S. are struggling with slowdown in manufacturing sector and low investor confidence. Metallic rope and cord companies are looking to reduce capital expenditure by delaying or scrapping expansion and new projects until the demand increases and raw material prices comes down.

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Metallic Rope Cords Market: Regional Outlook

Asia Pacific region is said to account for a prominent share in metallic ropes and cords market. This is due to high demand for metal ropes and cords from marine, fishing, manufacturing, mining and other industries. APAC is one of the main markets for metal ropes and cords with significant potential for growth in the manufacturing, fishing and mining sectors.

The offshore mooring industry in Malaysia, Australia, and China is expected to drive metal rope and cord market in near future. China is the largest Metallic Rope Cords market in APAC and the second-largest economy in the world.

The country is growing rapidly due to its large manufacturing industry and growing population. The country has taken many steps to improve its manufacturing sectors which includes communications, transport and industrial goods. Growing manufacturing activities have resulted in rising demand for metal ropes and cords in the country.

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Some of the market participants in the global Metallic Rope Cords market, identified across the value chain include:

• Wireco Worldgroup Inc.
• Samson Rope Technologies, Inc.
• DSR.
• Teufelberger Holding AG
• Bekaert SA
• Usha Martin
• Kiswire
• Pfeifer
• Gustav Wolf
• Katradis Marine Ropes Ind. S.A.

The research report on the Metallic Rope Cords market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

The Metallic Rope Cords market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as type, type of lay, and application.

The global codeless testing market outlook remains positive with the Future market Insights (FMI) projecting it to reach a valuation of US$ 1.5 billion by the end of 2021. Owing to the advent of artificial intelligence (AI) and machine learning the demand for codeless testing is estimated to grow at a robust CAGR of 15.5% during the forecast period 2021 to 2031.

Due to increasing usage of AI in the development of testing tools, which can self-heal at runtime, coupled with shift towards machine learning, self-healing automation testing is expected to emerge as one of the biggest automation testing trends over the coming years.

A number of companies operating in the market are launching their new products to cater to the increasing demand for these tools. For instance, Qualitest, an India-based software testing company, announced the launch of its new AI-powered software testing and quality assurance (QA) toolkit named, Qualisense in June 2020. The tool is expected to leverage machine learning to enhance testing and quality deliveries along with reducing the need for specific testing.

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A significant rise in demand for codeless testing is witnessed from small and medium enterprises (SMEs) owing to the increasing adoption of automated testing solutions. As per a study by FMI, the demand outlook for codeless testing solutions from SMEs is likely to surge at a CAGR of over 21% between 2021 and 2031.

“The unprecedented outbreak of novel coronavirus has encouraged leading vendors to emphasize on automating their IT operations to recuperate from the crisis. Besides this, numerous companies are anticipated to invest in artificial intelligence and robotic process automation (RPA), resulting in, bolstering the sales of codeless testing over the coming years,” says the FMI analyst.

Key Takeaways from Codeless Testing Market Study

• In North America, the U.S. is leading the market and is estimated to account for a market share of over 79% in the region, owing to the presence of leading market players in the country.
• Favored by high investment in information technology infrastructure, the demand outlook for codeless testing in the U.K. is likely to grow at a CAGR of 16% over the forecast period.
• China is anticipated to account for over 44% of the codeless testing solutions sales in the East Asia market by the end of 2031.
• Due to increasing adoption of cloud-based solutions, the market in India is projected to progress at a robust CAGR of 25% through 2031.
• Based on the solution, codeless testing tools are dominating the segment, accounting for a market share of over 59.5% in 2021.

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Key Drivers

• Increasing adoption of automated testing solutions is fueling the demand for codeless testing.
• Rising investment in information technology infrastructure is driving the growth of the market.
• Growing shift towards artificial intelligence is creating sales opportunities for codeless testing.

Key Restraints:

• Lack of skills required for codeless testing is hampering the market growth.
• Less scope for customization is a factor restraining the demand for codeless testing.

Competitive Landscape

Emerging players operating in the codeless testing market are focusing on developing innovative products and engaging in strategic partnerships & acquisition to increase their market revenue share. For instance,

• Ranorex GmbH, an Austria-based company, announced the introduction of its latest version of Ranorex Studio 9.5 in March 2021
• In March 2021, Tricentis, a software testing company announced acquisition of Neotys, a company based in France to expand its AI-driven end-to-end continuous testing platforms.

Key players operating in the codeless testing market profiled by FMI are:

• Ranorex GmbH
• Katalon, Inc.
• Mabl Inc.
• Usetrace
• Perforce Software, Inc.
• Cygnet-Infotech
• Worksoft, Inc.
• Testim
• froglogic GmbH
• Statnetics LLC
• ACCELQ Inc.
• QMetry Inc.
• Micro Focus
• Tricentis
• Eggplant

More Insights on the Codeless Testing Market:

FMI provides an unbiased analysis of the codeless testing market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global codeless testing market with a detailed segmentation on the basis of:

By Solution:

• Codeless Testing Tools
• Services
  • Testing & QA Services
  • Consulting Services
  • Integration & Implementation
  • Support & Maintenance

By Application:

• API Testing
• Mobile App
• Desktop App
• Web App

By Enterprise Size:

• Small and Medium Enterprises (SMEs)
• Large Enterprises

By Industry:

• IT & Telecom
• BFSI
• Retail
• Healthcare
• Government
• Education
• Manufacturing
• Travel & Hospitality
• Media & Entertainment
• Others

By Region:

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

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Key Questions Covered in the Report

• The report offers insight into codeless testing market demand outlook for 2021-2031
• The market study also highlights projected sales growth for codeless testing market between 2021 and 2031
• Codeless testing market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Codeless testing market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

About Future Market Insights (FMI)

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

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According to latest research by Future Market Insights, Removal Strips market is set to witness steady growth during 2021-2031. Waxing techniques are becoming more popular in providing skin care solutions, and products like removal strips are helping to cater to consumers’ preferences.

The worldwide prevalence of blackheads as a common skin problem is a major driving force for removal strip sales. Removal strips are a popular way to get rid of blackheads quickly. As a result, the removal strips market is set to witness a CAGR of 6.1%-6.9%.

What is Driving Demand for Removal Strips Market?

The growing importance of fashion and beauty trends along with the increasing innovation in removing products is anticipated to grow at a significant rate during the forecast period. Further, rising consciousness with respect to personal grooming and enhancing aesthetic appeal are some of the major factor driving the demand of the product.

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Further, the rise in per capita income is one of the key factors leading to increasing demand for removal strips around the world.

The growing number of beauty salons and spas is also driving the market forward. Other factors expected to drive the growth of the removal strips market include an improved standard of living and a changing lifestyle.

However, the pandemic outbreak has had a significant impact on the removal strips industry. The beauty industry experienced a temporary downswing, especially in certain beauty sectors. The pandemic had both negative as well as positive impact on the market.

Apart from this, consumers drastically resorted to making purchase online which forced the manufacturers and players to stimulate their online penetration to capitalize on sales opportunities. All of such drastic operational changes due to outbreak of novel coronavirus resulted in certain temporary challenges on the part of players.

Economic Pricing and Growing Acceptance of Personal Grooming Products among Men Complementing the Removal Strips Market Sale

One of the major factors driving the market is men’s growing acceptance of hair removal products. According to recent trends, many men are engaging in various grooming activities, including hair removal. Furthermore, the growing popularity of metrosexual culture has prompted businesses to introduce products tailored to men. This factor is expected to drive the product demand in the near future.

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Further, removal strips are a popular product among consumers with average disposable incomes due to their simplicity and ease of use. To keep removal strips within reach of this demographic, manufacturers will continue to offer them at a low cost. Rather than premium pricing that reflects high profit margins, market players will continue to focus on providing removal strips in a cost-effective price range.

US and Canada Removal Strips Market Outlook

In the U.S, the removal strips market is booming over the past few years and is expected to rise owing high spending on personal grooming, and rising hygiene concerns among men and women in the country.

Further, in the coming years, the regional market is expected to be driven by changing living standards, an increase in the number of working women looking for quick hair removal solutions, an emerging metrosexual culture, and rising consumer spending power.

Europe Demand Outlook for Removal Strips Market

The demand for removal strips market in the European market is estimated to grow significantly in the upcoming years. The expansion has been aided by the emergence of non-banking players in the payment industry.

Many consumers prefer virtual marketplaces to purchase a variety of products including personal grooming products, as a result, many retailers in the European market have been venturing into online retail. Over the forecast period, these trends are expected to have a positive impact on market growth.

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Some of the leading manufacturers of removal strips market include

• Reckitt Benckiser
• Kao Corporation
• Walgreen Co.
• Ulta Beauty
• Earth Therapeutics
• Sephora
• L’Oréal
• Tonymoly Co.
• Ltd.
• Boscia
•  KaoUSA
• Hip Hop among others

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

 Removal Strips Market Report Highlights:

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

According to the latest research, sales of work light is set to witness steady growth with a CAGR of over 3.8% during 2021-2031. Demand for work light might witness substantial growth post suffering a drop in demand and sales throughout the COVID-19 pandemic period. Post-pandemic the anticipated growth in the industrial sector is expected to see a rise in demand for work light.

What is Driving Demand for Work Light?

Adoption of light sources has taken a significant upsurge in the market of global residential lighting sales. The sales have augmented with increasing preference of fluorescent type lights sales in the residential sector, and that share is expected to continue expanding. The preference of such lights in DIY projects by increasing number of customers who prefer working at night has driven the market in upward projections.

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One of the key factors driving the worldwide market’s growth is rising need of such lights in commercial construction sites. The rise of LED as well as fluorescent lights that emit high intensity rays has attracted big construction companies for their preference. Furthermore, the market is predicted to grow in response to rising corporate infrastructure across the globe, acting as a major factor in the market growth.

Trend of LED Work Light Likely to Augment Sales

Apart from being more energy-efficient, LED lights to have significantly extended lifetime as compared to that of conventional ones. This has been progressively affecting the market with such lights becoming more and more appealing to the consumers. As renovations and new infrastructures are followed by new installations, preferential purchase of LED work lights has been an important trend observed in recent times.

Furthermore, the increasing preference of people for different coloured LED lights has augmented since the past few years. Not only for industrial and personal use but also people operating in different areas such as fire and emergency service stations, police departments, military operations, etc., are opting for high efficiency LED lights that provide better application than its alternatives. Such various factors have been leading to increase in volume of sales of LED lights at different workplaces.

Impact of COVID-19 on Work Light Market

COVID-19 had an immediate impact on the global industry. Manufacturers of work lights were directly impacted by the COVID-19 pandemic. Governments in a number of countries had imposed a shutdown to prevent the virus from spreading further. The supply chain was interrupted as a result of the closing of production plants and trade sanctions, resulting in a negative impact on market growth.

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Such restrictions had also hampered the domestic markets in various regions leading to decline in sales of work lights. Moreover, the weakening of raw material supply for manufacturing and its negative implications were felt due to the impact of the pandemic leading to degrading market growth.

US and Canada Work Light Market Outlook

The rapidly growing infrastructure in regions like North America, as well as customer demand for high efficient lights in the region, are two major factors driving the use of work lights. Furthermore, due to a high number of work force in the region, there has been a reasonable demand for such lights recent years, and this, together with the rising number of construction projects in the region, has generated a potential market for the competitors.

One of the major trends in the US and Canada region that is attracting customer attention is the variety of innovative products offered by the manufacturers. Moreover, the high level of penetration of key global brands in the region is another leading factor for market growth. The preference of regional population for high intensity work lights on back of high spending power is one of the significant factor contributing towards market growth in the region.

Some of the leading manufacturers and suppliers of work light include

• ABL Lights Inc.
• Bayco Products Inc.
• Cooper Industries (EATON Corporation)
• Ericson Manufacturing Co.
• Larson Electronics LLC
• Lex Products Corp.
• Luceco plc.
• Streamlight Inc.
• and WF Harris Lighting among others.

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

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Work Light Market Report Highlights:

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

A non-moving piece of metal or rubber which generally is used by a pillion rider to rest his/her foot is known as two wheeler footrest. Footrest in two wheelers is usually used for the convenience, safety and comfort. Comfortable and durable two wheeler footrest are the basic requirements to provide comfort and safety to the user. With an extensive variety of engraved designs that are known for giving a strong surface to provide ease of travel. Two wheeler footrest are manufactured and designed with exclusive and notable design patterns and is a mandatory accessory in the two wheelers.

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Two Wheeler Footrest Market: Dynamics

Increase in the traffic and transportation convenience withstands a maiden feature that will drive the marketplace for two wheeler footrest. The manufacturers are concentrating more and more to make the products which are light in weight with more durability.

The changing demand for design strategy of the product is one of the factor that will drive the demand for two wheeler footrest market. Increase in the need of traditional patterns and designs to make a faultless mixture of long wear ability and durability to increase the demand for two wheeler footrest in the market.

Growing regional travels and adventure sports especially in the millennials have thrived the usage of two wheelers globally. Owing to make improved travel experience materials like aluminum, rubber provide more durable products. This demand will lead in meeting the several variants of the product along with the manufacturing cost which simultaneously will drive the market for two wheeler footrest.

The original equipment manufacturers are collaborating advanced structures in the innovative generation two wheelers which have excellent strength-to-weight ratio and high compatibility. This increasing demand is anticipated to drive the market for two wheeler footrest.

Urbanization, rising working women users of two wheelers and women involvement in sports adventures is anticipated to drive the demand for more two wheelers which simultaneously will drive the market for two wheeler footrest.

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Two Wheeler Footrest Market: Regional Overview

Two wheeler footrest market is anticipated to observe a noteworthy development over the forecast period globally. Owing to the increasing adoption of adventure travels and junkies, regions like South Asia, and East Asia especially in India, China, Thailand, and Indonesia are anticipated to witness a reasonably spectacular acceptance of the two wheeler footrest.

On a version of the rising economy of middle class and entry of low-cost manufacturers from nations like India and China, precisely in Asia Pacific region, is anticipated to increase as the fastest rising region during the forecast period. This will lead to the usage of more two wheeler travel leading to the demand of two wheeler footrest.

Variation in the demographics and increase in the disposable income in the region is also leading to the rising demand for new two wheelers, including cruisers, sports bikes, thus resulting in the demand for the new two wheeler footrest in the region.

Two Wheeler Footrest Market: Market Participants

Examples of few of the key participants in the global two wheeler footrest market are identified across the value chain which include

• Rajdeep Traders
• Dakshita Injecto Plast
• HINDUSTAN RUBBER INDUSTRIE
• SW-MOTECH
• Shree Laxmi Enterprises
• Jikasu Engineering Corp.
• VVK Enterprises
• PATHAK SALES (INDIA)
• PLATINUM INDUSTRIES.

The research report on Two Wheeler Footrest market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

The Two Wheeler Footrest market report also contains projections using a suitable set of assumptions and methodologies. The research report on Two Wheeler Footrest market provides analysis and information according to market segments such as sales channel, vehicle type, material type.

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The Two Wheeler Footrest Market report covers exhaustive analysis on:

• Two Wheeler Footrest Market Segments
• Two Wheeler Footrest Market Dynamics
• Two Wheeler Footrest Market Size
• Supply & Demand for Two Wheeler Footrest Market
• Current Trends/Issues/Challenges
• Competition & Companies involved in Two Wheeler Footrest
• New Technology for Two Wheeler Footrest
• Value Chain of the Two Wheeler Footrest Market

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, Italy, France, U.K, Spain, Russia, BENELUX and Rest of Europe)
• South Asia (India, ASEAN, Rest of South Asia)
• East Asia (China, Japan and South Korea)
• Oceania (Australia & New Zealand)
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The Two Wheeler Footrest market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The Two Wheeler Footrest market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Two Wheeler Footrest market report also maps the qualitative impact of various market factors on market segments and geographies.

As per a latest study by Future Market Insights (FMI), the global market for citrus fiber is estimated to surpass a valuation of US$ 184.9 million by the end of 2031 in comparison to the valuation of US$ 110.0 million registered in 2021.Focus on healthy diet and demand for natural derived dietary fiber in food items will spur citrus fibers sales at a CAGR of 5.2% between 2021 and 2031.

Demand will continues increasing due to various functional benefits of these ingredients, especially when included in bakery products. Their high water holding capacity improves bread freshness and shelf life over time. FMI has estimated bakery sector to account for 19% of the global citrus fiber market over the forecast period.

According to the study, North America will emerge as a highly lucrative market. Demand outlook remains fairly positive for the U.S. market, as consumers are rendered more conscientious about cleaner ingredient list in food and personal care and cosmetic products.

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Besides these, the rising demand for natural ingredients in cosmetics and personal care products will present a positive demand outlook. Among various grades, food grade citrus fiber will dominate the market, accounting for 60% of the market share in 2021. Future Market Insights (FMI) also predicts the market to witness rising scope of applications in animal feed and pet formulations sector.

“Paradigm shift in consumer behavior towards healthy, clean label and natural products will drive sales of citrus fiber over the forecast period. Scope for product launches will improve, as consumers exhibiting increasing demand for cleaner ingredient list for their favorite food and beverages items,” said a Future Market Insights analyst.

Key Takeaways from Citrus Fiber Market Survey

• The U.S. is leading the market for citrus fiber in North America, accounting for over 89.1% of the North America market through 2031.
• Owing to the rising demand for fat substitutes, the Germany market is estimated to reach a valuation of US$ 7.6 Mn in 2021.
• China will present a positive demand outlook, accounting for more than 58% of the East Asia market in the year 2021.
• India is expected to emerge as a lucrative pocket, accounting for 45% of sales in South Asia in 2021 and exhibiting a CAGR of 6.6% over the forecast period 2021-2031.
• Based on source, the demand for orange fiber is expected to grow at a CAGR of 5.1% over the forecast period.

Key Drivers

• Consumer inclination for cleaner ingredient list will create scope for application in personal care and cosmetic sector, which will bolster growth prospects in future.
• Rising demand for functional ingredients in food, especially bakery and confectionery items will fuel demand for citrus fiber.

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Competitive Landscape

Key market players are focusing on improving their digital presence to counter supply-chain restrictions imposed by unprecedented events. Besides this, focus on product launches will continue increasing as they aim for competitive advantage.

For instance, in 2019, Fiberstar, announced the launch of new website for Citri-Fi natural citrus fiber to enhance the digital expertise and make consumers learn about their clean-lable citrus funstional fiber.

Orange Fiber, a startup has announced the launch of a novel fabric range prepared from citrus fiber and pulp in partnerships with H&M and Marinella brands.

Some of the leading players operating in the citrus fiber market profiled by Future Market Insights are:

• Fiberstar, Inc.
• CEAMSA
• CP Kelco, Inc.
• Herbafoods Ingredients GmbH
• Florida Food Products, Inc.
• Lemont
• Golden Health
• FUYAN PHARM (Henan), Inc.
• Nans Products
• Cifal Herbal Private Ltd.

More Valuable Insights on Citrus Fiber Market

FMI, in its new report, offers an unbiased analysis of the global citrus fiber market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in citrus fiber market with detailed segmentation:

By Grade:

• Food Grade
• Pharmaceutical Grade
• Cosmetic Grade

By Source:

• Orange
• Tangerine/Mandarins
• Grapefruit
• Lemons and Lime

By Application:

• Bakery
• Desserts and Ice-cream
• Sauces & Seasonings
• Meat & Egg Replacement
• Beverages
• Flavorings & Coatings
• Snacks & Meals
• Personal Care
• Pharmaceutical
• Other Application

By Function:

• Water Binder & Fat Replacer
• Thickening Gums
• Gelling Gums
• Others

By Region:

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

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Key Questions Covered in the Citrus Fiber Market Report 

• The market survey also highlights projected sales growth for citrus fiber market between 2021 and 2031
• The report offers insight into citrus fiber demand outlook for forecast period 2021-2031
• Citrus Fiber market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Citrus Fiber market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry                                                

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According to the latest research, sales of water colour palette is set to witness steady growth with a CAGR of over 5.2% during 2021-2031. Demand for Water Colour Palette might witness substantial growth post suffering a drop in demand and sales throughout the COVID-19 pandemic period. Post-pandemic the anticipated growth in the art enthusiasts is expected to see a rise in demand for Water Colour Palette.

Customers are increasingly adopting to various wooden palette over plastic palettes that are used in the water colour arts. The boom in wooden accessory industry has been a major contributing factor towards the growth of the market. Use of such palettes by various professional art enthusiasts is also on the growth curve and thus, impacting the market growth positively.

The characteristics of the wooden palettes to avoid the corrosion has been one of the greatest drive for the adoption of such palettes.

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One of the key factors driving the worldwide market’s growth is rising consumer base in the art enthusiast category. The rise of painting purely in water colours and oil paints has been a driving factor in this category. Moreover, the market for such palettes is predicted to grow in response to rising customer demand for stylish wooden accessories that can be attributed to the high use of water colours, correspondingly, acting as a major factor in the market growth.

Trend in Water Colour Palette Likely to Augment Sales

The oval shape painting palettes are being increasingly preferred by the art community all over the world. The ergonomics provided in such palettes prevents it from colour spillage and mixing with other colours better than different shaped palettes such as round, square, rectangle, etc. The high preference of such palettes has helped the market growth in a high manner leading to greater preference from beginner artists besides professional artists.

Though the availability of plastic palettes is greater than wooden palettes, the trend of wooden palette as a better tray for water colour painting is higher in the market. Such adoption of wooden trays has improved with better quality palettes being offered in the market by the key players. Alternatively, preference of these palettes by professional artists has seen a surge in demand in the last few years and has paved a path for wooden palettes in the art of water colour painting.

Impact of COVID-19 on Water Colour Palette Market

The coronavirus widespread has had a substantial impact on a wide variety of enterprises and their supply and value chains at all levels. One of the businesses that is now suffering as a result of the pandemic is consumer products.

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Inadequate logistics, traffic management, and public mobility limitations in impacted nation-states throughout the world had caused supply delays in raw material supply, which is one of the most critical sectors of the market’s value chain. Major market participants have had to rethink their contingency preparations and risk management as a result of the pandemic. Although, with decline in cases the market is anticipated to revive itself fully in near future.

Who are the Key Manufacturers and Suppliers of Water Colour Palette?

Some of the leading manufacturers and suppliers of water colour palette include

• Winsor & Newton
• Schmincke
• Old Holland
• Daniel Smith
• Shanghai SIIC Marie Painting Materials
• Hebei Chinjoo Art Materials
• PEBEO
• Daler-Rowney
• Madisi
• Anhui Zhongsheng among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Water Colour Palette Market Report Highlights:

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

As per a study by FMI, the global acoustic wave filter market is expected to witness a growth at a CAGR of 10.6% during the forecast period 2021-2031. The market for acoustic wave filters is estimated to rise from US$ 8.9 billion to a valuation of US$ 24.5 billion by the end of 2031.

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.

The outbreak of novel coronavirus has severely impacted the market for acoustic wave filters. The pandemic has restricted connectivity and disrupted the supply chains amidst lockdown. As per a study by FMI, around 10% to 15% sales of the acoustic wave filters have dropped during Q1 and Q2 in 2020. Nonetheless, ease of lockdown and reopening of the industries is expected to drive the market.

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Lithium tantalite and lithium liobate are expected to lead the material segment, accounting for a valuation of US$ 6,127 million, according to FMI. Lithium niobate is likely to hold a market share of around 43.4% through 2021, making it a center point for the expansion of the market.

“Leading manufacturers in the market are aiming at product innovation to address the increasing demand for acoustic wave filter owing to progressive development and commercialization of 5G technologies,” says the FMI analyst.

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.

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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.

• 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.

Competitive Landscape

Companies operating in the acoustic wave filters market are focusing on product innovation to expand their portfolio. Besides this, some key players are acquiring and establishing strategic partnerships with other market players to expand their manufacturing capabilities. For instance,

• TDK and Qualcomm announced launch of a joint venture in February 2021. The joint venture will enable Qualcomm’s RFFE business unit to deliver fully integrated systems such as RF front-end (RFFE) modules for mobile devices and fast-growing business segments.
• In March 2021, Resonant, the U.S. based company, announced an acquisition of GVR Trade SA (GVR). The acquisition will assist Resonant to expand its Enhanced ISN capabilities.

Some of the leading companies operating in the acoustic wave filters market profiled by FMI are:

• 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

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More Insights on FMI’s Acoustic Wave Filters Market

The latest market study on global acoustic wave filters market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of

By Type:

• SAW Filter
  • RF SAW Filters
  • IF SAW Filters
• BAW Filter
  • 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
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

Key Questions Covered in the Acoustic Wave Filters Market Report 

• The report offers insight into acoustic wave filters demand outlook for 2021-2031
• The market study also highlights projected sales growth for acoustic wave filters market between 2021 and 2031
• Acoustic wave filters market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Acoustic wave filters market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

About Future Market Insights (FMI)

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

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