Market Research Blog – Page 1639 – New Product Development

Global Organic Pigments Market to Grow at a Moderate CAGR of 4.5% by 2032

The global organic pigments market is poised to experience a steady growth trajectory with a projected Compound Annual Growth Rate (CAGR) of 4.5% throughout the forecast period. As of 2022, the market is valued at USD 5862 Million, and it is expected to witness substantial expansion, reaching an estimated high of USD 9824.9 Million by the year 2032. This upward trend reflects the increasing demand for organic pigments across various industries, indicating a promising outlook for the market’s future. Factors such as advancements in technology, growing awareness of environmentally friendly products, and expanding applications in diverse sectors contribute to the positive momentum in the organic pigments market.

Organic pigments play a vital role in coloring a wide range of products, from paints and coatings to plastics, inks, textiles, and more. Unlike inorganic pigments, organic pigments are carbon-based compounds that offer a broader spectrum of vibrant colors and superior performance in various applications. The organic pigments market has witnessed significant growth in recent years, driven by factors such as increasing demand for sustainable and eco-friendly products, advancements in technology, and a rising focus on aesthetics across industries.

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Key Market Drivers:

Environment-Friendly Solutions: With an increasing awareness of environmental sustainability, organic pigments have gained prominence due to their eco-friendly nature. Consumers and industries alike are seeking alternatives that have minimal environmental impact, leading to a surge in the adoption of organic pigments over traditional options.
Growing Demand in End-Use Industries: The demand for organic pigments is propelled by industries such as paints and coatings, plastics, textiles, printing inks, and cosmetics. The automotive sector, in particular, relies heavily on organic pigments to enhance the visual appeal of vehicles while meeting regulatory standards for volatile organic compound (VOC) emissions.
Technological Advancements: Ongoing research and development activities have resulted in technological advancements in the organic pigments industry. Innovations such as high-performance pigments (HPPs) and nanotechnology have improved the durability, stability, and color strength of organic pigments, expanding their applications across diverse sectors.

Market Trends:

Shift Towards Bio-Based Pigments: As sustainability becomes a focal point across industries, there is a noticeable shift towards bio-based organic pigments derived from renewable resources. Manufacturers are exploring alternatives to traditional petrochemical-based pigments, aligning with the global push towards a circular economy.
Customization and Specialty Pigments: The demand for unique and customized colors in various applications is driving the growth of specialty organic pigments. Manufacturers are investing in developing pigments with specific properties, allowing end-users to achieve desired effects and differentiate their products in the market.
Asia-Pacific Dominance: The Asia-Pacific region, led by countries like China and India, dominates the organic pigments market. The rapid industrialization, growing urbanization, and increasing disposable income in these regions contribute to the high demand for organic pigments in diverse applications.

Some of the key companies in the market are

BASF
Clariant
DIC Corporation
Heubach GmbH
Sudarshan Chemical Industries Ltd.
Ferro Corporation
Trust Chem Co. Ltd
DCL Corporation
Toyocolor Co. Ltd.
Others

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Key Segments in the Organic Pigments Market

By Source:

Synthetic
Natural

By Type:

Azo
Phthalocyanine
HPPs
Others

By Application:

Printing Inks
Paints and Coatings
Plastics

By Region:

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

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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Hygiene and Sanitation Boost Surface Disinfectant Chemicals Market Growth: USD 5.8 Billion Industry by 2033

The surface disinfectant chemicals market is poised for significant growth, with its valuation anticipated to increase from USD 3.9 billion in 2023 to USD 5.8 billion by 2033. This expansion represents a notable compound annual growth rate (CAGR) of 4.1% throughout the forecast period. The rising awareness regarding hygiene and cleanliness, particularly in healthcare facilities, commercial spaces, and households, is a primary driver for this market’s growth. Additionally, the increased prevalence of infectious diseases and stringent regulations related to sanitation are further fueling the demand for surface disinfectant chemicals. As a result, the market is expected to experience sustained growth, driven by the continuous need for effective disinfection solutions across various sectors.

Leading manufacturers of surface disinfectant chemicals have a tonne of opportunities due to the advent of cutting-edge disinfection solutions and expanding economies. Due to the rising risk of disinfectants to humans, numerous start-ups in the surface disinfectant chemicals industry globally have created a variety of alternatives to traditional chemical-based decontaminants.

Rising healthcare costs and heightened consumer hygiene consciousness are the two main market drivers. In addition, the market is growing as more infectious diseases like hepatitis, HIV, and other hospital-acquired illnesses are becoming more common.

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As individuals become more aware of the various illnesses connected to healthcare, it is projected that the demand for surface disinfectant chemicals would increase. The market is also anticipated to grow in the upcoming years, as a result of altering lifestyles and a rise in surgical procedures.

Manufacturers have historically been most worried about issues like government restrictions on the use of synthetic chemicals and a movement in consumer preference toward environmentally friendly products.

However, the market is being expanded overall due to the continually expanding demand from different industries and the implementation of stringent safety and hygiene standards. The demand for surface disinfection chemicals is largely driven by end users in the commercial and institutional sectors.

Key Takeaways

The UK surface disinfectant chemicals market is anticipated to expand at a CAGR of 3.4% over the anticipated time frame. By 2033, it is anticipated that the industry in the UK is likely to surpass US$ 166.6 billion.
The surface disinfectant chemicals market increased at a 4.6% CAGR between 2017 and 2022, citing FMI’s study.
The surface disinfectant chemicals market in the US is anticipated to expand at an adequate CAGR of 3.8%. By 2033, it is expected that the US market would have contributed more than US$ 1.0 billion in revenue.
Japan’s surface disinfectant chemicals market sector is estimated to exceed US$ 320 million by 2033.
Between 2023 and 2033, the surface disinfectant chemicals market is likely to increase in South Korea at 4.6% CAGR, respectively.
Quaternary ammonium compounds dominate the surface disinfectant chemicals market, with a CAGR of 4.1% by 2033.
Based on end user, commercial and institutional segments dominate the surface disinfectant chemicals market, with the CAGR of 4.2% by 2033.

Competitive Analysis

Utilizing the rise in global demand, companies in the surface disinfectant chemicals market are working to enhance production capacity through strategic acquisitions and partnerships with other producers.

Leading surface disinfectant chemical producers are focusing on creating fresh marketing strategies and utilizing cutting-edge technologies to increase their clientele. Leading manufacturers of surface disinfection chemicals are focusing on regulating and optimizing supply efficiency in order to stay competitive in the market. They are doing this by boosting their productivity, operational effectiveness, and lead time reduction.

Lanxess made a formal announcement in 2020 that it intended to increase its capacity for producing oxone monopersulfate, a crucial component in disinfection formulations, by about 50%.
Lonza increased its microbiological capacity in 2020 and extended its long-term collaboration wi th Servier for the production of L-asparaginase API.

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Top Key Players in the Surface Disinfectant Chemicals Market

Evonik Industries AG
LANXESS AG
Solvay S.A.
BASF SE
Lonza Group AG
Dow Inc.
Arkema SA
Mitsubishi Gas Chemical Company, Inc.
Hodogaya Chemical Co., Ltd.
Olin Corporation
Hansol Chemical Co., Ltd.
Dishman Carbogen Amics Ltd.

Key Segments

By Product Type:

Quaternary Ammonium Compound
Alcohols & Aldehydes
Phenolic Compounds
Halogens
Oxidizing Agents

By End Use:

Domestic
Commercial & Institutional
Industrial

By Region:

North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa

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Food Sterilization Equipment Market Set for Strong 5.7% CAGR, Expected to Reach USD 850 Million by 2032

The food sterilization equipment market is witnessing significant growth due to increasing consumer demand for safe and healthy food products. With rising concerns over foodborne illnesses, food manufacturers are focusing on implementing advanced sterilization techniques to ensure product safety. The adoption of new technologies like irradiation, heat treatment, and chemical sterilization is driving the market’s expansion.

The global food sterilization equipment market size is projected to total US$ 850 Mn by 2032, with demand growing at a 5.7% CAGR over the forecast period.

Increasing concerns regarding food safety in the food & beverage and food service sectors across the globe is spurring demand for effective food sterilization equipment. Consumers are getting inclined towards clean-label food products and are preferring food products produced using sustainable methods.

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In response to this, food processing companies are investing in sterilizing equipment to extend the shelf life of these items while adhering to severe regulatory standards, which is driving sales in the market. Besides this, surging demand for ready-to-eat food and beverages will push sales of bulk food sterilization equipment in the forthcoming years.

As food safety requirements become more stringent, more food businesses are choosing clear labels and transparency. Clean label is a consumer-driven trend that is having a beneficial impact on the food and beverage industry around the world.

Manufacturers are driven to follow the trend and upscale food ingredient sterilization due to the rising tendency of consumers to know and comprehend all of the ingredients used in a product before purchasing it.

Rising prevalence of foodborne infections and increasing consumer awareness of food safety are projected to drive the food sterilisation equipment market. Further, growing demand for non-thermal sterilisation processes is driving innovation in the market, thereby augmenting growth.

“Growing establishment of international fast food chains and gourmet restaurants across emerging economies, along with technological advancements in non-thermal food sterilization equipment will continue boosting sales over the forecast period,” says an FMI analyst.

Key Takeaways:

Based on process, sales in the continuous food sterilization equipment segment will grow at a 6.6% CAGR through 2032.
By application, demand for food sterilization equipment for seasoning and herbs will remain high.
In terms of technology type, the heat food sterilization equipment segment will remain lucrative.
Sales in the Australia food sterilization equipment market will grow at a 6.5% CAGR through 2032.
The U.S. will continue dominating the North America food sterilization equipment market, with sales growing at a 8.2% CAGR.

India will account for 31% of the South Asia food sterilization equipment market through 2032.

Demand in China food sterilization equipment market is slated to increase at a 9.1% CAGR over the forecast period.

Competition Landscape

Some of the key players operating in the market include JBT, Buhler AG, Cosmed Group, STERIFLOW Company, DELAMA S.P.A., and Raphanel System. Leading manufacturers are investing in collaborations and partnerships to improve sales in untapped markets.

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FMI, in its new offering, provides an unbiased analysis of the food sterilization equipment market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032).

The study divulges compelling insights on the demand for food sterilization equipment based on application (spices, seasonings, and herbs, cereals & pulses, meat, poultry & seafood, dairy products, fruits & vegetables, dried fruits & nuts, beverages, others (edible seed, gums, starch, jelly, & other ingredients), process (batch sterilization and continuous sterilization) type (high voltage electric field sterilization equipment, inductive electronic sterilization equipment, high temperature sterilization, chemical sterilization, ultraviolet sterilization equipment, microwave sterilization machine and others) technology ( heat, steam, radiation, chemical, filtration) equipment (milk pasteurization machine, industrial jam vacuum cooker, small scale industrial jam cooker, processing system for marmalade, sterilizer for ready meals and others) across seven major regions.

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Food Sterilization Equipment Market By Category

By Process:

Batch Sterilization
Continuous Sterilization

By Application:

Spices
Seasonings, and Herbs
Cereals & pulses
Meat
Poultry & Seafood
Dairy products
Fruits & vegetables
Dried fruits & nuts
Beverages
Others (edible seed, gums, starch, jelly, & other ingredients)
Bottled food sterilization
Canned food & beverages

By Type:

High Voltage Electric Field Sterilization Equipment
Inductive Electronic Sterilization Equipment
High-Temperature Sterilization
Chemical Sterilization
Ultraviolet Sterilization Equipment
Microwave Sterilization Machine
Others

By Technology:

Heat
Steam
Radiation
Chemical
Filtration
Others (HPP and ultrasound technologies)

By Equipment:

Milk pasteurization machine
Industrial jam vacuum cooker
Small-scale industrial jam cooker
A processing system for marmalade
Sterilizer for ready meals
Vegan sauce processing system
Craft beer pasteurizer
Autoclave sterilizer for canned tuna
High-pressure processing machine for juice
Industrial bottle sterilizer
Steam sterilizer for food pouches
Dry heat depyrogenation oven
Hot water storage type retort sterilizer
Hot water spray-type retort sterilizer
Plate type sterilizer
Tube type sterilizer
Plate heat exchanger for food
Rapid preparation sterilizer

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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 over 5000 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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Automotive Refinish Coating Market to Reach USD 19,352.3 Million by 2034, Growing at a 5.3% CAGR

The automotive refinish coating market is projected to experience substantial growth, with an estimated value of USD 11,544.3 million in 2024. By 2034, the market is anticipated to reach USD 19,352.3 million, progressing at a compound annual growth rate (CAGR) of 5.3%. This growth is driven by factors such as the increasing number of vehicle collisions, rising demand for vehicle customization and aesthetic enhancements, and advancements in coating technologies that offer better durability and finish. Additionally, the expanding automotive sector in emerging economies and the growing trend of maintaining and restoring older vehicles contribute to the robust expansion of the automotive refinish coating market.

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Various factors propelling the demand for Automotive Refinish Coatings are:

The market for automotive refinish coatings has grown significantly in recent years. Automotive is one of the largest industries across the globe. Thus, the market for automotive refinish coatings has enormous potential in the long run due to its demand for high-quality corrosion protection.
Due to the growth of this sector, numerous new automakers now provide a variety of distinctive models every year. Additionally, businesses frequently create eco-friendly models and charge reasonable costs for their vehicles.
Furthermore, emerging automotive refinish coatings market trends and the demand for improved infrastructure, logistics, and so on have pushed the automotive refinish coatings market to directly produce end-use products to meet the needs of such industries.
Technological advances, combined with ongoing product development to improve the performance of refinish coatings, will drive market growth in the coming years. Furthermore, government efforts to reduce VOC emissions through the deployment of eco-friendly technology will create new market opportunities during the forecast period.

Key Takeaways from the Automotive Refinish Coating Market

The automotive refinish coating market is anticipated to total USD 11,544.3 million in 2024.
Expoxy-based segment is expected to lead the material type category in 2024 with a share of 51.9%.
Base coat is the top product type for 2024, with an anticipated share of 35.8% in the same year.
Africa automotive refinish coatings market size is predicted to increase from US$ 108.9 million in 2023 to US$ 165.4 million by 2033
India is set to see progress at a CAGR of 7.9% over the forecast period.
Automotive refinish coating demand is likely to progress at a CAGR of 5.9% in China in the estimated period.
The market is anticipated to progress at a CAGR of 2.1% in the United Kingdom.

“The growing popularity of electric vehicles (EVs) supports the automotive refinishing market. Many EV owners want to enhance the distinctiveness of their vehicles with new coatings, further fueling market growth. As the automotive landscape evolves, the refinishing coating market is set to expand, driven by consumer preferences for customization, protection, and technological advancements,” says an analyst at Future Market Insights, Inc.

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Competitive Landscape

To increase their market position, major players in the market are concentrating on merger and acquisition strategies along with product development. To boost their yearly turnover, they are still boosting their production capacity. For instance:

AkzoNobel recently decided to expand its presence in Africa by signing a contract with Kansai Paint and starting its coatings-related operations there on June 1, 2022. With Kansai Paints, AkzoNobel will be able to build a foundation for future market expansion and generate 280 million euros in sales. Additionally, this partnership will emphasize commitment to innovation and sustainability, leading to the expansion of products and the provision of appropriate solutions for clients.
Tikkurila and its activities in the areas of governance, social responsibility, and the environment have been acquired by PPG Industries. This gave PPG access to additional growth opportunities due to an expanded selection of coatings products and emerging new technologies. With this acquisition, PPG has moved closer to its goal of reducing emissions by 15% by 2025, which has expected to open up more opportunities for the coatings sector.
Axalta Coating Systems, a major supplier of liquid and powder coatings, announced in September 2021 that it had acquired “U-POL” Holdings Limited. Since the acquired firm assisted them in offering accessories, coatings, aerosols, and products for the automobile industry, the acquisition of this company has produced a substantial advancement in the expansion strategy. The advantages of this acquisition and these products will enable Axalta to broaden its target market base into the refinish coatings sector, which has anticipated experiencing rapid growth over the forecast period.

Recent Developments in the Automotive Refinish Coating Market

In April 2024, BASF SE launched a new line of eco-friendly undercoats.

Some of the Leading Companies Operating in the Automotive Refinish Coatings Market are

Axalta Coating Systems, LLC
3M Company
AkzoNobel N.V.
PPG Industries, Inc.
The Sherwin-Williams Company
Dow Inc.
Nippon Paint Holdings Co., Ltd.
Kansai Paint Co., Ltd.
Covestro AG
KAPCI Coatings
NOVOL Sp. Z o.o.
KCC Corporation
Bernardo Ecenarro S.A.
SEM Products, Inc.

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Automotive Plastic Interior Trims Market Expected to Reach USD 44 Billion by 2032, Growing at a CAGR of 6% to 8% | FMI Reports

According to a report by Future Market Insights (FMI), the global automotive plastic interior trims market is expected to grow at a moderate CAGR of 6% to 8% during the forecast period. Valued at USD 26 billion in 2022, the market is projected to reach USD 44 billion by 2032.

The growth in automotive plastic interior trims is driven by ongoing innovations in vehicle interior components. Consumers are increasingly favoring convenience, advanced safety features, and premium aesthetics, which is expected to boost the market over the study period.

The surge in demand for automotive plastic interior trims is primarily fueled by the use of lightweight and advanced materials that offer unique finishes for vehicle interiors. With a focus on reducing overall vehicle weight and enhancing comfort, manufacturers are anticipated to significantly increase their use of plastic interior trims from 2022 to 2032.

However, analysts at FMI foresee potential challenges such as the high cost of advanced interior components, increased automotive import tariffs, and longer production cycles, which could hinder market growth. For example, the cost of electronic systems in vehicles, which previously constituted 1–2% of the total vehicle cost, has risen to 8–12% due to the growing demand for enhanced user experiences and convenience features.

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FMI also notes that the rising adoption of autonomous and semi-autonomous vehicles is likely to drive demand for automotive plastic interior solutions. These vehicles require the integration of advanced technologies, which will boost the need for sophisticated plastic trims. Additionally, automotive plastic trims are expected to play a crucial role in concept cars featuring radical designs and cutting-edge technologies, further accelerating the demand for cockpit electronic systems.

Key Takeaways from the Automotive Plastic Interior Trims Market

Asia Pacific region is projected to dominate the global automotive plastic interior trims market and advance at a CAGR of 3.45% during the period 2022-2032.
Asia Pacific/APAC has accounted for a dominant revenue share of over 45.0% during the base year.
The Polypropylene segment for automotive plastic interior trims accounted for a revenue share of more than 30% in the base year.
The Injection Molding segment led the market and accounted for the highest revenue share of more than 55.0% in 2021.

“The use of lightweight carbon fibers and different polymers in the production of automotive trim components are likely to create lucrative growth opportunities for the manufacturers and provide them the ability to produce high specific strength, intricate shapes, and high energy absorption features for the vehicles.” – Says an FMI Analyst

Competition Landscape in the Automotive Plastic Interior Trims Market

The market is found to be significantly fragmented owing to the presence of a large number of manufacturers across the globe. The global players are facing intense competition from each other along with the regional players who have strong distribution networks, coupled with incredible knowledge of regulations and suppliers.

The companies in the automotive plastic interior trim market are competing on the basis of product quality offered and the technology being used for the production of automotive plastics. The manufacturers are continually innovating and getting themselves indulged in mergers & acquisitions to gain a competitive advantage and curate high-end automotive interiors with maximum finesse.

Trinseo, Dassault Systèmes, CIE Automotive, Doughlas Corporation, TS TECH Co., Ltd., Neaton Auto Products Manufacturing, Inc., Sage Automotive Interior Trim, and ITG Company are some of the key players in the market.

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Key Segments Profiled in the Automotive Plastic Interior Trims Market

Vehicle Type:

Commercial Vehicles
Passenger Cars

Application:

Pillar Trims
Door Trims
Instruments Panels
Armrest
Seat Backs
Roof Handles
Central Consoles
Luggage Trims
Seat Belt Guides

Sales Channel:

OEM
After Market

Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Automotive Smart Antennas Market Projected to Hit USD 15,754.6 Million by 2033, with a CAGR of 9.1% | FMI Reports

The global automotive smart antenna market is forecasted to grow significantly, rising from USD 6,643.2 million in 2023 to USD 15,754.6 million by 2033, with a robust CAGR of 9.1% during this period. The increasing demand for smart antennas across various automobile sectors is expected to continue driving this growth through 2033.

The surge in demand for reliable vehicle communication and connectivity is a major driver for the automotive smart antenna market. The expanding electric vehicle fleet and supportive government initiatives for vehicle electrification are also key factors accelerating market growth.

Smart antennas enhance in-car entertainment by enabling features such as music and video streaming, and interactive content, which contributes to a superior travel experience. The rising consumer preference for advanced entertainment capabilities is boosting the adoption of smart antennas.

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Car owners increasingly expect uninterrupted access to a range of digital services while on the move, including real-time navigation, high-quality infotainment, and seamless connectivity with smart devices. Smart antennas meet these needs by providing reliable and robust in-vehicle communication.

By vehicle type, the passenger car segment is anticipated to dominate the automotive smart antenna market, holding a significant volume share of 56.9% in 2023. Meanwhile, the heavy commercial vehicle (HCV) segment is projected to grow at an impressive CAGR of 10.4% through 2033.

Key Takeaways from the Automotive Smart Antenna Market Report:

The global market for automotive smart antennas is projected to thrive at a 9.1% CAGR through 2033.
By vehicle type, the passenger car segment is expected to total a valuation of USD 3,784.2 million by 2033.
By sales channel, the OEM segment is set to hold a market share of 85.9% in 2023.
East Asia is expected to account for a significant share of about 40.6% in 2033.
The United States market value is anticipated to reach USD 1,137.3 million by 2033.
China is projected to attain a valuation of USD 2,208.6 million by 2033.
Demand in Japan is predicted to rise at a 9.0% CAGR through 2033.

Competitive Landscape:
TE Connectivity, Continental AG, Laird Connectivity, Harada, Yageo Corporation, and TDK Corporation are the leading manufacturers in the automotive smart antenna market profiled in the full version of the report.

Key players are focusing on strategic partnerships with automotive manufacturers to provide cost-efficient solutions to consumers. They are also investing in developing new products and expanding innovations on the existing ones to meet end-user demand.

Recent Developments:

In August 2023, TE Connectivity acquired Schaffner to boost its growth and diversification.
In July 2022, Linx Technologies was acquired by TE Connectivity.
In July 2022, Maruti Suzuki announced the launch of a new Hyryder-based SUV called Vitara in India. The car is equipped with an antenna shaped like a shark fin.
In May 2022, Hyundai launched a new variant, Business Edition, of the existing midsize sedan Grand i10 Nios, with a shark fin antenna.
In October 2022, Robert Bosch invested US$ 260 million to expand electrified product manufacturing at its North Charleston facility.

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Automotive Smart Antenna Market Segmentation:

By Frequency:

Ultra High Frequency
Very High Frequency
Microwaves

By Vehicle Type:

Passenger Car
LCV
HCV
Electric Vehicle

By Product Type:

Cellular Antenna
GPS Antenna
Wi-Fi Antenna
Bluetooth Antenna
Others

By Application:

Exterior
Interior

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia and 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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Global Remicade Biosimilar Market Expected to Reach USD 47,549.77 Million by 2032

The global remicade biosimilar market is set for unprecedented growth, with projections estimating a robust compound annual growth rate (CAGR) of 35.9% over the next decade. Starting from a substantial base of USD 2212.86 million in 2022, the market value is forecasted to soar to an impressive USD 47,549.77 million by the year 2032.

Biosimilars, pivotal in this market expansion, are biological products that closely resemble FDA-approved reference biological products in terms of structure and function, without any clinically meaningful differences. These alternatives, which are also approved by the European Medicines Agency (EMA), promise equivalent safety, purity, efficacy, and effectiveness as their reference counterparts.

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The rigorous approval process for biosimilars ensures that they match their reference products in quality, and can only be licensed for the medical indications and conditions previously cleared by major regulatory bodies like the U.S. FDA and EMA.

This remarkable growth trajectory of the remicade biosimilar market is fueled by increasing acceptance and adoption of biosimilar drugs in the healthcare system, driven by their cost-effectiveness and the expanding support from governmental health agencies worldwide. As the healthcare industry continues to embrace biosimilars, this market is expected to significantly reduce healthcare costs while maintaining high treatment efficacy.

Key factors influencing the Remicade biosimilar market include:

Patent Expiry: The expiration of Remicade’s patents has allowed other pharmaceutical companies to develop and market biosimilar versions of the drug, driving competition and reducing costs.
Cost Savings: Biosimilars typically come at a lower price point compared to the reference biologic, making them more accessible to patients and healthcare systems.
Regulatory Environment: The approval and commercialization of biosimilars are subject to regulatory guidelines and approval processes. Different countries have varying regulations that can affect the entry and adoption of biosimilars.
Physician and Patient Acceptance: Acceptance and confidence in biosimilars among healthcare providers and patients are essential for their widespread adoption.
Market Competition: The presence of multiple biosimilars in the market can increase competition, leading to further price reductions and market penetration.

Overall, the Remicade biosimilar market is likely to continue growing due to the rising demand for cost-effective treatments for autoimmune diseases. As with any pharmaceutical market, ongoing research, advancements, and changes in regulations can influence its trajectory.

For the most current and detailed information on the Remicade biosimilar market, it is advisable to consult industry reports, market research publications, and updates from relevant regulatory authorities.

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Remicade Biosimilar Market: Key Players:

Janssen Biotech Inc.
Merck &Co.
Pfizer Inc. (AC. Hospira)
Celltrion Inc.
Alvogen
Napp Pharmaceuticals
Nippon Kayaku

Market Segmentation:

The Remicade biosimilar market is segmented based on approved disease indications and regions.

By Disease Indication:

Crohn’s disease
Rheumatoid arthritis
Ankylosing spondylitis
Psoriatic arthritis
Ulcerative Colitis
Plaque psoriasis

By Regions:

North America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Japan
Latin America
MEA

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Jellies and Gummies Market Growth Forecast: USD 11,493 Million by 2033, Expanding at a 5.6% CAGR

The global Jellies and Gummies market is projected to achieve a valuation of USD 6.665 million by 2023, with a compound annual growth rate (CAGR) of 5.6% anticipated from 2023 to 2033.

Gummies and jellies are popular candies often enjoyed as snacks by children. To make them, a concentrate solution is heated after dissolving sugar in water. This process produces a syrup, which is then mixed with pectin, gelatin, starch, and other ingredients for coloring. These candies are available in various shapes, often featuring fun designs such as rabbits, bears, fish, babies, frogs, rings, and bottles.

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In response to rising rates of pediatric obesity in both industrialized and developing countries, consumers are increasingly adopting healthier eating habits. The high sugar content in jellies and gummies, coupled with its association with obesity, has led many to reduce their consumption of these sugary treats. As a result, manufacturers are being compelled to innovate and develop options with lower sugar and calorie content to retain their customer base.

The gummies and jellies market is experiencing growth driven by several factors, including the increasing global vegan population and higher consumer spending on candies and other confectionery products. Additionally, rising awareness about the drawbacks of chocolate consumption and the demand for innovative flavors, textures, designs, shapes, packaging, and reduced sugar content are further fueling market expansion. However, the industry will encounter significant challenges due to health concerns associated with high sugar and alcohol intake.Bottom of Form

Competitive Landscape

In Canada, Bayer AG will release its brand-new RestoraFIBRE® Daily Gummies. Get your fiber fix with these tasty candies that are high in fiber. RestoraFIBREDaily Gummies contain inulin, a soluble fiber and prebiotic that promotes the development of healthy bacteria in the stomach. The market for jellies and gummies now has more room to grow as a result of this invention.
Under its flagship brand Nutrilite, Amway Corp. India developed nutrition supplements in Feb 2022 in chic, lovely, practical, and straightforward formats including tasty sweets and mouth-dissolving jelly strips.
Jelly Drops, a candy flavor that promotes hydration, was introduced to the candy market in May 2022 and made its debut in the US. Jelly Drops are made of 95% water and extra electrolytes, and they don’t include any sugar. It is significantly advancing for the elderly and individuals with Alzheimer’s.
Considering the largest and fastest-growing consumer group, manufacturers are developing cutting-edge packaging and marketing strategies to differentiate products by their wrappings, such as 3D wrapping, having a QR code on the wrapper for an online game, and holding a contest to engage buyers. Jellies and gummies are easy to handle and are readily available in sugar confectioneries all over the world, which has led to an increase in demand.

Key Companies Profiled

HARIBO GmbH & Co. KG; Jelly Belly Candy Company; Mars Inc.; Mondelz Global LLC; Jelly Belly Candy Company; Perfetti Van Melle Group B.V.; The Hershey Company; Decoria Confectionery Co. Ltd.; Giant Gummy Bears; Albanese Candy

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Jellies and Gummies Market by Category

By Ingredient Type:

Fruits
Vegetables
Liqueur
Flowers and Herbs
Others

By Product Type:

Functional Jellies and Gummies
Traditional Jellies and Gummies

By End Users:

< 14-year-olds
14-30 year-olds
> 30 year-olds

By Distribution Channel:

Departmental Store-Based
Non-Store-Based

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Automotive Connectivity Control Unit Market Set to Surge with 10.5% CAGR, Reaching USD 11.7 Billion by 2032 | FMI Reports

According to the report published by Future Market Insights (FMI), the global automotive connectivity control unit market is expected to experience robust growth, with a projected CAGR of 10.5% over the forecast period. Valued at USD 4.32 billion in 2022, the market is anticipated to reach approximately USD 11.7 billion by 2032.

The rising demand for luxury vehicles and advancements in electronics are significantly driving the growth of automotive connectivity control units. The shift in consumer preferences towards high-tech vehicles with advanced features is further fueling market demand.

The report highlights that the surge in demand for Battery Electric Vehicles (BEVs) and Hybrid Electric Vehicles (HEVs) is a key factor contributing to market growth. Additionally, the increasing adoption of Advanced Driver Assistance Systems (ADAS) and advancements in convenience features are expected to accelerate the expansion of the automotive connectivity control unit market.

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Experts at FMI note that automotive electronics and wireless technologies have seen substantial advancements in recent years. Innovations and device convergence are extending the driving experience beyond traditional transportation. However, challenges such as high technology costs, potential technical failures, and expensive repairs could constrain market growth.

FMI also identifies electronic control unit (ECU) remapping as a significant trend in the automotive connectivity control unit market. Car manufacturers are focusing on enhancing vehicle performance, improving fuel efficiency, and incorporating turbocharged engines to ensure optimal functioning and performance.

Key Takeaways from the Automotive Connectivity Control Unit Market

Asia Pacific region is projected to dominate the global automotive connectivity control unit market with a market share of 41.68%.
The Passenger Cars segment of the Vehicle Type section led the market with a share of 60.11% in the automotive connectivity control unit market.
The ICE segment led the market with a 70.12% share of the Propulsion sector.
The 32 Bit segment has accounted for the highest market share of 40.34% for the capacity sector in the year 2021.
The Powertrain segment for the Application sector held 26.23% of the market share in the base year.

“The increasing demand for safety features among the millennials, coupled with the rising need for up-gradation, safe, and comfortable driving experience in future vehicles altogether is majorly going to contribute in propelling the market growth of automotive connectivity control units in the global forum” – Says an FMI Analyst

Competition Landscape in the Automotive Connectivity Control Unit Market

The market can be described as a competitive market. The key companies have adopted several strategies to broaden their customer base worldwide. Furthermore, companies are adopting various innovative technologies and investing a hefty amount in research and development to introduce new products and enhance their offerings.

The automotive manufacturers are also integrating ECU, which offers enhanced vehicle performance and comfort.

Robert Bosch, Autoliv, Z.F. Friedrichshafen, Delphi Technologies, and Toyota are key players in the market.

Recent Developments in the Automotive Connectivity Control Unit Market:

On 30th August 2022, Siemens collaborated with Nissan to enrich its production lines at its plant located in Tochigi, Japan. The companies announced that the production of high-technology equipped automobiles requires high-performing ECUs/Electronic-Control Units. Hence it is necessary for Siemens and Nissan to evaluate their software portfolios in order to optimize the design and efficacy of the ECU systems, which in turn will yield a huge growth in revenue for the organizations.
On 27th April 2022, AISIN, one of the world’s largest OEM manufacturers, joined hands with Nissan for the improvisation of its technologically advanced AUTOSAR ECU. AUTOSAR provides a number of features like electronic architecture, transfer functions of control units, etc., which can substantially improvise the efficacy of the software development, which in turn will adequately check the efficiencies and integrate each ECU unit.
In March 2021, Bosch mobility solutions developed a V2X connectivity control unit which is the center for connectivity functionality in commercial vehicles. It enables commercial vehicles to communicate with one another and with objects in the immediate surroundings.

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Key Segments Profiled in the Automotive Connectivity Control Unit Industry Survey

Product Type:

External Vehicle Communication Control
In-Vehicle Communication Control

Vehicle Type:

Passenger Vehicle Automotive Connectivity Control Unit
Light Commercial Vehicle Automotive Connectivity Control Unit
Heavy Commercial Vehicle Automotive Connectivity Control Unit

Sales Channel:

Original Equipment Manufacturer (OEM)
Aftermarket

Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
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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Global E-Rickshaws Market Growth Rate Forecasted at 31.8% CAGR, Targeting USD 38,360.8 Million by 2034 | FMI Reports

The projected for global e-rickshaws market size is expected to reach USD 2425.1 million by 2024 and is predicted to grow at a CAGR of 31.8% from 2024 to 2034. It is estimated that the worldwide sales of e-rickshaws will total USD 38360.8 million by 2034, driven by increasing demand for sustainable transportation solutions.

The e-rickshaw market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfill the demand for e-rickshaw, making them more accessible to customers in the global e-rickshaw market.

In 2024, passenger carrier e-rickshaws are anticipated to dominate the market with a 64.4% share, making it the leading vehicle type in the electric rickshaw industry. Additionally, the segment of 1,000 to 1,500 motor power is expected to hold a 57.4% value share in 2024.

The entry of various automotive manufacturers into the e-rickshaw industry, along with the introduction of new models, is contributing to the growth of the market. Opportunities are arising from smart city projects that prioritize urban mobility solutions and create a conducive environment for the integration of e-rickshaws in public transport networks. Localized production of lithium-ion-battery-based e-rickshaws is also encouraging high adoption rates.

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Challenges in the electric rickshaw sector include the lack of standardization in terms of quality, safety, and performance, which may lead to an influx of low-quality e-rickshaws. Furthermore, the reliance on imported key components for e-rickshaw production poses a significant challenge for manufacturers.

Key players in the industry are focusing on introducing cost-effective 3W EVs with advanced technology, aiming to offer consumers the benefits of both affordability and advanced features. These companies are presenting a compelling value proposition in the rapidly evolving industry.

The e-rickshaw market’s leading manufacturers are concentrating their efforts on the introduction of fiber-reinforced plastic (FRP) technology, which is a composite material composed of a polymer matrix reinforced with glass fibers. FRP enables plastic fibers to be shaped to fit specific designs, and the orientation of the fibers increases strength and resistance to deformation.

Key Takeaways from the Market Report:

The e-rickshaw market is set to reach USD 38360.8 million by 2034 with a CAGR of 31.8%.
By vehicle type, passenger carriers are leading the e-rickshaw market with a value share of 64.4% in 2024.
Based on motor power, 1000 to 1500 W accounted for a market share of 57.4% in 2024.
India is estimated to record a CAGR of 47.4% between 2024 and 2034.
China will hold its dominant position in the e-rickshaw market and show steady growth at a CAGR of 35.6% by 2034.

Which is the Leading Region in the E-Rickshaw Market?

According to geographies, the Asia Pacific area, particularly India and ASEAN nations such as Thailand, Vietnam, and the Philippines, is expected to lead the sales of the e-rickshaw industry. India has a sizable e-rickshaw market share in terms of revenue and sales, owing to the growing manufacturing to fulfill the demand for e-rickshaw.

Following India, China, and ASEAN nations account for the second and third largest e-rickshaw market shares, respectively, in terms of production and sales. In the future years, the Middle East and Africa area is predicted to have moderate development. The European region’s sales in the e-rickshaw industry are predicted to increase steadily.

North America’s sales in the e-rickshaw industry are low, as the majority of countries in this region have developed and acquired modern public transportation systems, such as metros, taxis, and electric buses, among others. As a result, demand for e-rickshaw is declining in this region, and thus the e-rickshaw market share is decreasing as well.

“Asia Pacific is emerging as the dominant region for the electric automotive industry. Leading countries in the region are poised for substantial growth in the coming decade,” – says FMI Analyst.

Who’s winning?

The electric rickshaw industry is poised for growth, leading to growing competition among manufacturers. Key players, such as How Care Products Pvt. Ltd., Charuvikram Automobiles Pvt. Ltd., A G International Pvt. Ltd., Saera Electric Auto Pvt. Ltd., Gauri Auto India Pvt. Ltd., Yuva E Rickshaw, and Xuzhou Hongsengmeng Group Co., Ltd., will need to prioritize offering affordable models to meet the needs of price-conscious consumers in developing countries.

The introduction of new technological advancements will provide a competitive advantage. Manufacturers who provide improved battery range and efficiency, e-rickshaw battery swapping facilities, and features like GPS tracking, entertainment systems, or digital payment options are expected to experience increased sales.

Competitive factors in the e-rickshaw market include pricing pressures and industry consolidation, which will drive the development of new innovations aimed at enhancing the efficiency, user-friendliness, and features of electric rickshaws. With intense competition, the e-rickshaw sector is anticipated to undergo consolidation, with only the leading players dominating the industry.

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Industry Updates

Rajiv Bajaj, the managing director of Bajaj Auto, headquartered in Pune, India, in an interview with CNBC TV18 in May 2024, announced the company’s plans to launch an affordable electric 3W vehicle.
Piaggio, headquartered in Pontedera, Italy, in May 2024, launched the new Battery Subscription Model, making 3W EV ownership affordable and attractive by eliminating battery costs.

Get More Insights into the E-rickshaw Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the e-rickshaw market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on vehicle type (passenger carrier and load carrier), battery capacity (>101 Ah and <101 Ah), motor power (up to 1000 W, 1000 to 1500 W, and more than 1500 W), end-user (original equipment and aftermarket), and regions.

About the Automotive Division at Future Market Insights

The Automotive Division of FMI offers extensive coverage and valuable insights about the automation industry, including areas such as robotics, artificial intelligence, machine learning, and process automation. Our market research findings and competitive intelligence help various industry stakeholders, including manufacturers, technology providers, distributors, and service providers, make informed decisions and stay updated with the latest market trends and developments.

About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:
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