Market Research Blog – Page 1676 – New Product Development

Global High-Performance Composites Market to Grow at 10.3% CAGR, Projected to Reach USD 36.8 Billion by 2034

The high performance composites market is anticipated to be valued at USD 13.9 billion by 2024. The market valuation is estimated to be USD 36.8 billion by 2034, projected at a CAGR of 10.3%. A key driver of the market is the need for lightweight materials to improve fuel efficiency, performance, and sustainability.

Technological advancements in composite manufacturing processes, such as automated layup, resin infusion, and additive manufacturing, are driving market growth by enabling the production of complex shapes and structures with high precision and efficiency.

The advancements contribute to developing innovative composite materials with enhanced properties, such as improved impact resistance, thermal stability, and fire retardancy.

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Increasing investments in research and development activities to enhance composite performance, reduce production costs, and explore new applications to fuel market expansion. Companies collaborate with research institutions and universities to develop next-generation composite materials and manufacturing techniques that meet evolving industry requirements and regulatory standards.

Despite the promising growth prospects, the high-performance composites market faces challenges such as high initial costs, limited recycling options, and concerns about environmental impact.

Ongoing efforts to address these challenges and the growing emphasis on sustainability and eco-friendly materials are expected to drive continued growth in the high-performance composites market in the coming years.

Key Takeaways from the Market Study

Under resin type, the thermoset resins segment registered to expand at 10.2% CAGR by 2034.
The United Kingdom is estimated to register at a CAGR of 10.9% by 2034.
China experiences significant growth, projected at a CAGR of 11.1% by 2034.
Based on fiber type, the carbon fiber composites segment is anticipated to expand at 10.1% CAGR by 2034.

“The increasing demand for lightweight materials in industries such as aerospace, automotive, and wind energy is one significant driver for the high-performance composites market,” comments a Future Market Insights analyst.

Competitive Landscape

The presence of key players such as Hexcel Corporation, Toray Industries, Inc., and Solvay S.A. characterizes the competitive landscape of the high-performance composites market.

These companies dominate the market with their wide range of composite materials and solutions tailored to various industries. Smaller players and niche providers are focusing on specialized applications, contributing to the diverse and dynamic nature of the market. Some of the key developments are:

In September 2020, Applied Composites Holdings, LLC completed the acquisition of Alliance Spacesystems, LLC, and a renowned leader in high-performance composite structures.
In February 2023, Isoco Bikes from Saalfeld, Germany, and V Frames from Schmiedefeld, entered into an exclusivity agreement with Lehvoss Group based in Hamburg. This collaboration aims to introduce high-performance fiber-reinforced compounds, including long carbon fiber and biopolymer carbon fiber composite materials, into the production of bike frames and components.

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Leading Players in the High Performance Composites Market

Toray Industries Inc.
Solvay S.A.
Hexcel Corporation
SGL Group-The Carbon Company
TPI Composites
Koninklijke TenCate NV
Owens Corning Corporation
BASF SE
Teijin Limited
Albany International Corporation

More Valuable Insights Available

Future Market Insights offers an unbiased global high-performance composites market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand market opportunities, the high-performance composites market is segmented based on resin type (thermoset resins, thermoplastic resins), fiber type (carbon fiber composites, s-glass composites, aramid fiber composites, others), application (aerospace & defense, automotive, wind turbine, pressure vessel, medical, construction, others), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).

About Future Market Insights (FMI)

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

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Pre-Made Pouch Packaging Market to Soar from US$10.81 Billion to US$16.63 Billion by 2033, Driven by Convenience and Sustainability Trends

The global pre-made pouch packaging market is set for significant growth, with its value expected to rise from USD 10,808.3 million in 2023 to an impressive USD 16,625.03 million by 2033. This represents a steady CAGR of 4.4% over the forecast period, driven by increasing demand for convenient and sustainable packaging solutions.

Core Concepts in the Pre-Made Pouch Packaging Industry

Current Market Size in 2023: The market is valued at US$ 10,808.3 million in 2023.
Growth Forecast: The market is projected to grow at a CAGR of 4.4% from 2023 to 2033.
Expected Market Size in 2033: By 2033, the market is expected to reach US$ 16,625.03 million.
Market Growth Rate in China: China is anticipated to expand at a staggering CAGR of 5.8% by 2033.
Key Market Players:

C-P Flexible Packaging, Bossar Packaging, Viking Masek

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Key Drivers of Market Growth

Several factors are propelling the demand for pre-made pouch packaging, including:

Convenience and Usability: Designed for easy opening, usage, and resealing, pre-made pouches offer unparalleled convenience to consumers.
Lightweight and Transportable: The lightweight nature of these pouches makes them effortless to transport, contributing to their growing popularity.
On-the-Go Solutions: The burgeoning trend toward convenient, on-the-go packaging solutions is driving market demand.
Environmental Benefits: With a lower carbon footprint compared to certain packaging formats, pre-made pouches are an eco-friendly option.
Extended Shelf Life: These pouches provide a longer shelf life for products, making them a preferred choice for many industries.
Cost-Effectiveness: Pre-made pouches offer lower packaging costs compared to some alternatives, enhancing their attractiveness.

Key Takeaways from Pre-made Pouch Packaging Market Study

Spout closures are anticipated to expand at the fastest pace of 4.8% throughout the projection period as a consequence of the growing demand for environmentally friendly substitutes.
The tear-notch closure-type segment is anticipated to hold 44.2% of the market by 2028. Customers are assured of the company’s professional-level packaging and the potential of a duplicate product is eliminated by the tear notch closure, which indicates where the bag should be cut.
The plastics material market share is anticipated to reach 52.6% by 2028. Due to their resistance to moisture, dust, oxygen, and UV radiation, plastic pouches keep packed products fresher for longer; this characteristic accounts for the segment’s greatest share.
By 2033, China may expand at an astounding CAGR of 5.8%. China is anticipated to be a significant market in the Asia pre-made pouch packaging sector due to its expanding population and increasing consumption of packaged goods.
With an 87.6% market share in 2022, the United States is expected to dominate the pre-made pouch packaging industry in North America. The United States is anticipated to provide profitable growth potential for pre-made pouch packaging during the coming years. The United States is home to numerous reputable pre-made pouch packaging companies.

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Competitive Landscape

Leading manufacturers of pre-made pouch packaging systems are following the path of strategic mergers & acquisitions to strengthen their foothold in the global market. Increasing consumer demand for flexible packaging solutions has compelled market participants across the value chain to rethink their strategies to optimize their efficiency.

It is anticipated that manufacturers will continue to pursue M&A to enhance their capabilities and expand geographical presence in an attempt to lure more consumers inclined towards flexibility and convenience. Demand for transparency and aesthetic product appeal will continue to influence consumers’ buying decisions.

For instance,

In May 2020 – PPC Flexible Packaging, a supplier of unique flexible packaging for various markets, launched PPC Green, its new sustainability offering.

Key Players Analysis

Key players that have been profiled in the report on the pre-made pouch packaging market include Bemis Company, Inc., Uflex Ltd., Sealed Air Corporation, Mondi Plc, Glenroy, Inc., Sonoco Products Company, Ampac Holdings LLC, Berry Global, Inc., Paharpur 3P, Printpack, Inc., Accredo Packaging, Inc., Clifton Packaging Group Ltd., FLAIR Flexible Packaging Corporation, Gualapack S.p.A., Goglio SpA, Fres-co System USA, Inc., HBC Packaging, Scholle IPN Corporation, Thimonnier SASU, and Genpak Flexible among others. Several small-scale regional players are expected to contribute significantly to the growth of the global pre-made pouch packaging market through the next decade.

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Key Segments of Pre-made Pouch Packaging Industry Survey

By Closure Type:

Tear Notch
Spout
Zipper
Flip Lid & Others

By Material:

Plastic Pre-made Pouch Packaging
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Polyamide (PA)
Paper Pre-made Pouch Packaging
Aluminum Laminates
Others

By End-use Industry:

Pre-made Pouch Packaging for Food
- Fruits & Vegetables
- Meat Poultry and Seafood
- Bakery & Confectionery
- Ready-to-eat
- Dairy Products
- Pet Food
- Others
Pre-made Pouch Packaging for Pharmaceuticals
Pre-made Pouch Packaging for Cosmetics & Personal Care
Others

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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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Fire Resistant Hydraulic Fluid Market Set for Growth: Expected to Reach USD 2.2 Billion by 2034

The fire-resistant hydraulic fluid market is on a robust growth trajectory, with an anticipated valuation of USD 1.5 billion by 2024. This upward trend is expected to continue, with the market projected to reach USD 2.2 billion by 2034, reflecting a steady compound annual growth rate (CAGR) of 3.9%. This growth is driven by increasing safety regulations and the rising demand for enhanced fire protection in various industries, including aerospace, automotive, and manufacturing. As companies and industries prioritize safety and efficiency, the adoption of fire-resistant hydraulic fluids is poised to play a crucial role in meeting these evolving needs.

The market is witnessing significant growth driven by increasing awareness of workplace safety standards and regulations. These fluids are crucial in preventing fire hazards in hydraulic systems used across various industries, including manufacturing, construction, mining, and automotive.

Stringent regulations mandating the use of fire-resistant fluids to minimize the risk of workplace accidents have propelled market growth. Technological advancements have developed advanced formulations with superior fire resistance and performance characteristics.

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The market is witnessing a shift towards biodegradable and eco-friendly formulations in response to growing environmental concerns. Bio-based hydraulic fluids derived from renewable sources are gaining traction due to their reduced environmental impact and regulatory compliance.

Regional dynamics also play a significant role in shaping the market landscape. Countries like the United States, South Korea, Japan, China, and the United Kingdom are major contributors to market growth due to their strong industrial bases and stringent safety regulations.

Despite the positive outlook, the market faces challenges such as the higher upfront cost of fire-resistant fluids compared to conventional options and compatibility issues with existing equipment. However, the long-term benefits of reduced downtime, maintenance costs, and enhanced workplace safety outweigh these challenges, driving continued adoption.

The fire-resistant hydraulic fluid market is poised for further growth, driven by ongoing industrialization, technological innovation, and a growing focus on safety and sustainability across industries. As companies prioritize worker safety and regulatory compliance, the demand for fire-resistant hydraulic fluids is expected to remain strong in the foreseeable future.

Key Takeaways from the Market Study

Under product type, the water-based segment is registered to expand at 3.7% CAGR by 2034.
The United Kingdom is estimated to register at a CAGR of 5% by 2034.
China experiences significant growth, projected at a CAGR of 4.3% by 2034.
Based on the application, the metal processing segment is anticipated to expand at 3.5% CAGR by 2034.

“The increasing emphasis on workplace safety and the need to mitigate fire hazards in industrial settings is one significant driver for the fire resistant hydraulic fluid market,” – says an Analyst at Future Market Insights (FMI).

Competitive Landscape

In the competitive landscape of the fire resistant hydraulic fluid market, focuses on developing advanced formulations to meet stringent safety standards and enhance performance.

Collaborations with equipment manufacturers and distributors enable them to expand their market reach and maintain a competitive edge. Some of the key developments are:

In September 2020, Clariant, a multinational chemical company, introduced Hostaphat 1738, a phosphate ester derived from sustainable sources specifically designed for metalworking applications. This product serves as a fire retardant hydraulic fluid in the metallurgy industry.
In July 2020, Quaker Chemical and Houghton International merged their businesses, consolidating their divisions, including those focused on manufacturing fire-resistant hydraulic fluids.

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Top Key Players in the Fire Resistant Hydraulic Fluid Market

American Chemical Technologies Inc.
BASF SE
Castrol Ltd.
China Petrochemical Corporation (Sinopec Group)
Dow Inc.
DuPont de Nemours Inc.
Eastman Chemical Company
Exxon Mobil Corporation
Houghton International Inc.
Idemitsu Kosan Co. Ltd.
MORESCO Corporation
Quaker Chemical Corporation
Southwestern Petroleum Corporation

More Valuable Insights Available

Future Market Insights offers an unbiased global fire resistant hydraulic fluid market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand market opportunities, the fire resistant hydraulic fluid market is segmented based on Product Type [Water-based {(Oil-in-water Emulsions (ISO HFA), Water-in-oil Emulsions (ISO HFB), Water Glycol Fluids (ISO HFC)}, Anhydrous-based {Phosphate Esters (ISO HFDR), PAG, Polyol Esters}], Application (Metal Processing, Aviation, Marine, Mining, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa)

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Sustainable Growth: Form-Fill-Seal Films Market Set to Expand at 5.1% CAGR, Reaching US$44.20 Billion by 2033

The global form-fill-seal (FFS) films market is poised for significant growth, with its value expected to rise from USD 26,875.8 million in 2023 to an impressive USD 44,196.57 million by 2033. This robust growth trajectory reflects a steady CAGR of 5.1% over the forecast period, driven by increasing demand for sustainable packaging solutions and innovations in the food packaging industry.

Core Concepts in the Form-Fill-Seal (FFS) Films Industry

Estimated Market Size in 2023: The market revenue is expected to reach US$ 26,875.8 million by 2023.

Growth Forecast: The industry is projected to grow at a CAGR of 5.1% through 2033.

Expected Market Size in 2033: By 2033, the market size is expected to reach US$ 44,196.57 million.

Leading Application Segment: The sachets and pouches segment is anticipated to lead the market, with an expected CAGR of 4.7% by 2033.

North America’s Market Share in 2023: North America is likely to generate 4.2% of the market revenue in 2023.

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Key drivers propelling the growth of the global FFS films market include:

Rapidly Growing Demand for Sustainable Packaging: As consumers become increasingly environmentally conscious, the demand for sustainable packaging solutions is on the rise. FFS films offer an attractive option for sustainable packaging, as they can be made from recyclable materials such as polyethylene and polypropylene. Their ability to be made thinner and stronger reduces material usage, resulting in cost-effective and eco-friendly packaging solutions.
Expansion of the Food Packaging Industry: The food packaging industry is a major consumer of FFS films, driven by the growing demand for processed food and ready-to-eat meals. Additionally, the surge in online grocery shopping has created new opportunities for FFS film manufacturers, as online retailers seek durable and versatile packaging solutions to protect products during shipping and handling.
Growth in Emerging Economies: Rapid urbanization and industrialization in emerging economies such as India, China, and Brazil are driving the demand for packaged products. This presents new opportunities for FFS film manufacturers to expand their businesses in these regions. The growing middle class in these countries is also driving demand for premium packaged products, necessitating high-quality and innovative packaging solutions.
Investment in Research and Development: FFS film manufacturers are investing in research and development to create new and innovative packaging solutions. This includes the development of thinner and stronger films with improved barrier properties to protect products from environmental factors such as moisture and oxygen. Advanced coatings and laminates are being utilized to enhance barrier properties and extend the shelf life of products.

Key Takeaways

The form-fill-seal films market is expected to grow due to increasing demand from the pharmaceutical, cosmetics, and personal care sectors.
The market is also being driven by a rise in environmental awareness, as companies modify their production technology to align with environmental concerns.
Concerns about the use of harmful chemicals during manufacturing and the shift towards more sustainable packaging solutions pose significant challenges to the market’s growth.
Manufacturers need to focus on producing eco-friendly FFS films while addressing concerns related to the use of harmful chemicals to sustain growth in the market.
The shift towards sustainable packaging solutions and the use of compact paper-based packaging could pose a challenge to the growth of the FFS films market.
Companies that adopt eco-friendly packaging solutions such as FFS films can benefit from increased consumer demand and brand loyalty.
The Asia-Pacific region is expected to emerge as a key market for FFS films, driven by increasing industrialization and urbanization in the region.

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Growth Drivers:

Increased Demand for Packaged Food:
- The rising trend of convenience and on-the-go consumption has led to an increased demand for packaged food products. FFS films play a crucial role in providing efficient packaging solutions for various food items, driving market growth.
Advancements in Flexible Packaging Technology:
- Ongoing innovations and technological advancements in flexible packaging, particularly in the FFS films segment, contribute to improved barrier properties, extended shelf life, and enhanced product protection. These innovations attract manufacturers looking for efficient and cost-effective packaging solutions.
Growing Awareness of Sustainable Packaging:
- With increasing environmental concerns, there is a growing emphasis on sustainable packaging solutions. FFS films are evolving to meet eco-friendly criteria, incorporating recyclable and biodegradable materials. The market benefits from the heightened awareness of sustainable practices among consumers and businesses alike.
Expansion of End-Use Industries:
- The expansion of end-use industries such as pharmaceuticals, personal care, and industrial products contributes to the growth of the FFS films market. These industries require efficient and versatile packaging solutions, and FFS films meet their diverse packaging needs.
Globalization and Supply Chain Dynamics:
- As markets become more interconnected, there is an increased need for efficient packaging solutions that meet global supply chain requirements. FFS films provide a versatile and adaptable packaging option, allowing manufacturers to streamline their production and distribution processes, thereby driving market growth.

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Form-Fill-Seal Films Market by Category

By Material Type:

Polyethylene (PE)
Polypropylene (PP)
Polyethylene Terephthalate (PET)
Aluminum Foil
Others

By Layer Structure:

Monolayer Films
Multilayer Films

By Application:

Sachets & Pouches
Bags & Sacks
Others

By End-Use:

Food
- Meat, Poultry & Seafood
- Dairy Products
- Fruits & Vegetables
- Bakery & Confectionery
- Others
Healthcare & Pharmaceuticals
Agriculture & Allied Products
Building & Construction
Others

By Region:

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

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 Timber Wrap Films Market Projected to Grow at 4.3% CAGR, Surpassing US$714 Million by 2033 Amidst Expanding Timber Trade

The global timber wrap films market is projected to experience significant growth over the next decade, reaching a market valuation of USD 714.2 million by 2033. According to the latest analysis report by Future Market Insights (FMI), the market is currently valued at USD 464.8 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% during the forecast period.

Core Concepts in the Timber Wrap Films Industry

Historical Performance:

Historical Growth Rate: The market witnessed a growth rate of 3.7% historically.

Key Trends:

Innovation: Ongoing innovation in packaging technology.
Eco-Friendly Wrapping Films: Increasing use of environmentally friendly wrapping films.

Future Outlook:

CAGR (2023 to 2033): The market is expected to grow at a CAGR of 4.3% from 2023 to 2033.
Market Value in 2033: The market is projected to reach US$ 714.2 million by 2033.

Regional Insights:

Top 5 Countries’ Market Share: The top 5 countries hold a combined market share of 55%.

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Key Factors Fueling Growth:

Preserving Timber Quality: The primary driver of this growth is the increasing demand for solutions that ensure extended shelf life and maintain the quality of timber.
Cost-Effective Protection: Timber wrap films offer a low-cost, lightweight, and damage-resistant solution, making them a highly sought-after packaging product in the timber and wood industry.
Essential for Transportation: Timber wrap films are currently the only viable packaging option for the safe delivery of timber to end-users and furniture manufacturers.
Booming Timber Trade: The rising volume of international timber trade is significantly accelerating the growth of the timber wrap film market.

Market Advantages Of Polyethylene:

The report also highlights the potential impact of regulations on polyethylene materials, which are expected to become stricter in the coming years. This presents an opportunity for timber wrap films, as they offer superior properties like:

Improved Moisture Resistance
Lightweight Design
Cost-Effectiveness

Innovation Drives Future Demand:

The market is witnessing advancements in timber wrap film technology, including:

High-Friction Films: These films provide enhanced anti-slip protection for secure packaging.
High-Strength & Barrier Films: These films elevate the overall quality of timber packaging.

Growing Demand Across Regions:

The report explores the promising growth potential in key regions:

The United States: The high demand for wood in the U.S. housing sector is expected to propel the timber wrap films market at a CAGR of 3.3%, reaching US$183.9 million by 2033.
Canada: The Canadian market is growing even faster, with a projected CAGR of 3.9%, reaching US$22.9 million by 2033. Key players are strategically focusing on this market due to the high penetration of relevant products.
Europe: Europe’s regional market holds a significant share (over 30.3% in 2022) driven by high consumption in countries like Germany, Spain, and the United Kingdom. The widespread use of modern packaging equipment further intensifies competition in this region.

Sustainable Solutions for a Greener Future:

The report also emphasizes the growing trend of adopting innovative solutions for producing eco-friendly timber wrap films. This aligns with the increasing focus on sustainability within the packaging industry.

With a growing emphasis on efficient timber protection, international trade, and eco-friendly solutions, the timber wrap films market is well-positioned for continued expansion in the coming years.

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Key Segments

by Thickness:

Up to 75 Micron
76 to150 Micron
151 to 225 Micron
Above 225 Micron

by Material Type:

Polyethylene (PE)
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
Polypropylene (PP)

by Region:

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

About Future Market Insights (FMI)

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

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Expanded PTFE (ePTFE) Market Forecast: Projected to Reach USD 1.49 Billion by 2034 with a 5.9% CAGR

The expanded PTFE (ePTFE) market had an estimated market size of US$ 788.5 million in 2023 and is expected to reach a global market size of USD 1490 million by 2034, increasing at a CAGR of 5.9% between 2024 and 2034. By 2024, the market for expanded PTFE (ePTFE)s is likely to reach a valuation of USD 838.2 million.

The expanded PTFE (ePTFE) market is being driven by improvements in ePTFE production techniques and rapid technical advances. New ePTFE products with improved qualities and uses are developed as a result of these advances, satisfying changing industry demands and promoting market expansion.

The growing need for high-performance sealing solutions in crucial sectors like chemical processing and aerospace presents an opportunity in the extended PTFE (ePTFE) industry. Companies may take advantage of this by creating innovative ePTFE-based sealing products that provide exceptional lifespan, performance, and dependability, giving them a competitive advantage in the market.

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Key Takeaways from the Market Analysis

The global demand for expanded PTFE (ePTFE) services reached US$ 610 million in 2019.
It is expected that the membrane form of expanded PTFE (ePTFE) would attain a 5.5% CAGR through 2034.
It is projected that expanded PTFE (ePTFE) will be highly used for filtration and attain a 6.3% CAGR from 2024 to 2034.
The market in the United States is anticipated to rise through 2034 at a 6.3% CAGR.
It is projected that the expanded PTFE (ePTFE) ecosystem in the United Kingdom will evolve at a 6.4% CAGR between 2024 and 2034.

“The increased need for high-performance and durable materials in industries like healthcare, automotive, and electronics is a major driver of the expanded PTFE (ePTFE) market. Its unique qualities make it an excellent choice for a variety of applications, hence driving market growth,” says an FMI analyst.

Competitive Landscape

Key companies in the global expanded PTFE (ePTFE) market are actively working together to progress material science. These companies are working to improve the qualities and uses of ePTFE materials through collaborative development agreements with creative partners.

They want to stimulate creativity and maybe lead to the creation of new products with enhanced functionality and performance by utilizing resources and skills. Significant players are able to maintain their competitiveness and propel the field of advanced materials research forward with this cooperative approach.

Startups in the expanded PTFE (ePTFE) industry are advancing material characteristics through the use of protein design methods. Their primary goal is to create innovative ePTFE products with exceptional performance attributes in order to upend established markets and become pioneers in the field of advanced materials innovation.

Key Developments

In 2024, Lenzing Group announced a new method for processing lyocell fibers bearing the TENCELTM name, which is designed to produce stretch textiles that improve wearer comfort. This approach provides a fossil-free substitute that upholds ethical manufacturing practices and has remarkable stretch and recovery qualities.
In 2023, Donaldson Company, Inc. opened a 25,000-square-foot life sciences technical center at Research Triangle Park (RTP), signaling the company’s commitment to expanding its presence in the field of life sciences. The design, development, introduction, and early commercialization of transformative bioprocessing technologies will be facilitated by the new facility. In addition to pushing the IsoTag^TM reagent product line, it will act as a center for Donaldson life science discoveries.

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

To understand opportunities in the global expanded PTFE (ePTFE) market, the market is segmented on the basis of form (membrane, fiber, others), application (filtration, electrolyzer, others), end user (PEM fuel cells, other) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).

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Global Bag Closures Market Poised for Robust Growth, Projected to Reach USD 385.1 Million by 2033

The global bag closures market, currently valued at US$217.1 million in 2023, is anticipated to grow at a CAGR of 5.9%, reaching US$385.1 million by 2033. Key factors driving market growth include the rising demand for reusable packaged foods, particularly bakery and confectionery items, and increasing consumer preference for environmentally friendly packaging solutions.

Core Concepts in the Bag Closures Industry

2023 Market Size: By the end of 2023, the bag closures market is expected to reach a valuation of US$ 217.1 million.
2033 Market Projection: The global market size is projected to grow to US$ 385.1 million by 2033.
Demand Drivers: The increasing demand for reusable packaged food products is a key factor driving sales in the market.
Growth Limitations: The growth potential of the market is limited by rising environmental awareness and the easy availability of durable substitutes.
Top Market Trend: The trend of increasing fashion styles among working women is gaining popularity in the market.

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Market Analysis:

Increasing Demand for Reusable Packaged Food Products: The surge in demand for reusable packaged food products, especially in the bakery and confectionery sectors, is a primary driver of the bag closures market. Flexible packaging for bread processing, a significant end user of bread clips, underscores this trend. As bakery product sales continue to grow, the demand for bag clips is expected to remain robust.
Cafés and Bakery Chains: Many cafés and bakery chains globally are increasing their use of clips and twist ties for effective product closure, further boosting market demand. The introduction of a variety of bakery products catering to health-conscious consumers, such as gluten-free and sugar-free options, also augments the need for bag closures.
Environmental Initiatives: Government and non-government organizations’ efforts to reduce plastic usage in packaging have heightened awareness within the packaging industry. This has led to increased demand for environmentally friendly twist ties and paperboard re-closures, as they are considered more sustainable than plastic clips.
Fashion Industry Influence: The growing female workforce and heightened brand recognition are driving global demand for handbags, subsequently increasing the sales of bag clasps and closures. The availability of designer bags in various styles and the rising fashion trends among working-class women contribute significantly to this demand.

Trends and Opportunities:

Hygiene and Convenience: There is a rising demand for hygiene, convenient, and easy-to-store products in the food and beverage sector, which fuels the market for bag closures.
Technological Advancements: Growing investment in advanced technologies promoting sustainability and research and development activities presents significant opportunities for market players.

Challenges:

Environmental Concerns: Increasing environmental awareness and the easy availability of durable substitutes pose challenges to market growth. Consumers’ shift towards necessity over luxury, influenced by global warming awareness programs, may also impact multiple purchases, leading to a potential decline in demand.
R&D Expenditure: Significant R&D expenditure on other cheaper and more sustainable products could threaten the market expansion of traditional bag closures.

“Since the majority of consumers want packaging that serves several purposes, the perception of bag closures has radically changed. Manufacturing businesses are investing in creating finished goods with recycled materials and engineering them to guarantee they last beyond the lifecycle of packed product, like twist ties and clips. For instance, twist ties have achieved it since they are used to bundle wires, secure plants, and hang various objects, relieving strain on rubbish, .”according to an FMI Analyst

Major conclusions from the global bag closure market

The food industry will continue to use bag closures the most, with a 1.7x increase in market value, as packaging of fruits and vegetables, baked goods, confectionary, meat, poultry, and other items remains a necessity.
Plastic, out of all materials, will present an additional potential of US$ 245 Mn by the end of 2030 because of its dependability as a material for packaging perishable goods in the FMCG sector.
As baked goods continue to be a part of basic foods, North America is likely to hold a lion’s share in terms of sales with a valuation of US$ 113 Mn by 2030.
Pre-cut twist ties to reach US$ 84 Mn by 2030 as they become preferred closures over clips due to evolving perspective towards minimizing usage of plastic in packaging

Top Key Players Covered-

Plas-Ties, Co.,
Kwik Lok Corporation,
Schutte Bagclosures B.V.,
Bedford Industries, Inc.
Multipack B.V.B.A.
International Plastics Inc.
Inno Bag Closure
Truseal (Pty) Ltd.
Vikela Aluvin Pty Ltd.
ITW Envopak Limited
T & T Industries Inc.
Zhenjiang Hongda Commodity Co., Ltd.
AndFel Corporation
Detmold Group
A. Rifkin Co.
HSA International Group.

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Key Segments of Bag Closures Industry Survey

Bag Closures Market by Material:

Plastic Bag Closures
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
Paper & Paperboard Bag Closures
Metal Bag Closures

Bag Closures Market by Product:

Bag Closure Clips
- Clip Bands
- Multi-clips
Bag Closure Pre-cut Twist Ties
- Twist-bands/Twist-strips
- Tin Ties

Bag Closures Market by Application:

Bag Closures for Food
- Bakery & Confectionery
- Fruits & Vegetables
- Meat
- Poultry & Seafood
- Ready-to-Eat Food
- Others (Tea, Coffee, etc.)
Bag Closures for Non-food Applications
- Garbage / Trash
- Security Packaging
- Others (Toys, Stationery, etc.)

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Elastomeric Membrane Market Forecast: Projected to Reach USD 98 Billion by 2034 with a 7.1% CAGR

The elastomeric membrane market had an estimated market size of US$ 45.9 billion in 2023 and is expected to reach a global market size of US$ 98 billion by 2034, increasing at a CAGR of 7.1% between 2024 and 2034. By 2024, the market for elastomeric membranes is likely to reach a valuation of US$ 49.6 billion.

Global building projects are seeing an increasing need for waterproofing solutions, which is propelling the elastomeric membrane market. Elastomeric membranes offer efficient waterproofing, preventing water damage and prolonging the life of roofs, foundations, and other structures. This need is most noticeable in areas that frequently experience floods and torrential rains.

The market for elastomeric membranes has an opportunity since green construction techniques are becoming more and more popular. In addition to their energy- and environmentally-friendly characteristics, elastomeric membranes are ideally suited to fulfill the criteria for green building certifications like LEED, offering manufacturers a substantial chance to focus on construction projects that prioritize environmental sustainability.

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Key Takeaways from the Market Analysis

The global demand for elastomeric membrane services reached US$ 33 billion in 2019.
It is expected that the sheet elastomeric membrane would attain a 7% CAGR through 2034.
It is projected that elastomeric membrane will be highly used for roofs and walls and gain a 52.1% market share in 2024.
The market in the United States is anticipated to rise through 2034 at a 7.1% CAGR.
It is projected that the elastomeric membrane ecosystem in the United Kingdom will evolve at an 8% CAGR between 2024 and 2034.

“The elastomeric membrane market is expanding due to a growing focus on sustainable building methods, such as the use of environmentally and energy-efficient materials. These membranes support sustainable construction practices and provide longevity and weather resistance,” says an FMI analyst.

Competitive Landscape

Leading companies in the global elastomeric membrane market are continually pursuing research and development to bring innovative materials and production methods to market. In order to fulfill changing consumer needs and strict regulatory requirements, they concentrate on improving product performance, durability, and sustainability.

Strategic alliances and joint ventures are also sought for in order to broaden market penetration and seize new possibilities. In addition, marketing and distribution channel expenditures are made to bolster brand recognition and successfully enter a variety of end-user markets, including healthcare, automotive, and construction.

Startups in the global market are emphasizing disruptive ideas, agility, and customer-centric methods. To stand out from the competition and obtain a competitive advantage over well-established competitors across a range of sectors, they seek to deliver innovative solutions, take advantage of developing technology, and target specialized market segments.

Key Developments

In 2023, BASF and Oriental Yuhong, China’s largest producer of Thermoplastic Polyolefin (TPO) roofing membranes, are collaborating to create solar roofing membranes for buildings. The goal of the latest project is to supply rooftop solar panels, a need that is expanding quickly in China.
The performance of TPO roofing membranes in terms of waterproofing has become crucial as the nation’s solar PV installations have reached a record high of 51 gigawatts, with roofs accounting for more than one-third of the installed capacity in 2022.

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Top Key Players

BASF SE
Carlisle Companies Inc.
Copernit S.P.A.
Firestone Building Products Company
GCP Applied Technologies Inc.
Johns Manville
Kemper System
Paul Bauder GmbH & Co. Kg
Soprema Group
Standard Industries Inc.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global elastomeric membrane market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the global elastomeric membrane market, the market is segmented on the basis of type (sheet, liquid applied), application (roofs & walls, underground construction, wet areas, others) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East & Africa).

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Industrial Cleaning Solvent Market Poised for Growth: Projected to Reach USD 2 Billion by 2034 with a 4.8% CAGR

The global industrial cleaning solvent market size is poised for significant growth, achieving USD 1.3 billion in 2024. The industrial cleaning solvent sales is expected to witness a CAGR of 4.8% from 2024 to 2034. By 2034, the demand for industrial cleaning solvent is anticipated to reach a valuation of USD 2.0 billion.

The demand for industrial cleaning solvents continues to rise due to end-use industry demand, rapid industrial development, and workplace hygiene programs. The industrial cleaning solvent market has expanded globally owing to all these factors.

The primary factor propelling the demand for industrial cleaning chemicals in the healthcare sector is the rising costs incurred by individuals for healthcare.

Using specially designed, safe cleaning agents is necessary to ensure that hospitals always maintain the most stringent standards of sanitization and sanitation. Innovative and secure premium cleaning chemical products are developed due to the sharp increase in demand for industrial cleaning solvents in the healthcare industry.

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Regional Outlook

The demand for eco-friendly industrial cleaning solvents is steadily rising in Asia Pacific due to strict policies supporting sustainable practices. Asia Pacific industrial cleaning solvent market growth is attributed to increasing investments in the electronics and automotive industries.
Safer and more environmentally friendly solvents are in high demand in Europe as people become increasingly aware of the harmful consequences of traditional solvents. The Europe market is witnessing increased demand for industrial cleaning solvents designed for particular uses in industries such as pharmaceuticals and aerospace.
Growing corporate social responsibility and sustainability agendas in North America are stirring demand for industrial cleaning solvents and boosting demand for eco-friendly solvent substitutes. Increasingly, North America providers are compelled by strict safety and environmental restrictions to invest in research and development of industrial cleaning solvents that are both non-toxic and biodegradable.

“Due to expanding industrialization, stricter regulations, and an increased focus on sustainable practices, the industrial cleaning solvent market is expected to rise steadily. The increasing need for effective cleaning solutions across various industries prompts growth and innovation in the industrial cleaning chemical market.”, says an analyst at Future Market Insights (FMI).

Key Takeaways

The manufacturing and commercial offices segment in the end use industry category is envisioned to evolve at a CAGR of 4.4% between 2024 and 2034.
In the application category, the general and medical device cleaning segment is likely to exhibit a CAGR of 4.6% from 2024 to 2034.
South Korea industrial cleaning chemical market is anticipated to boost at a CAGR of 6.5% between 2024 and 2034.
Japan industrial cleaning solvent market is likely to exhibit a CAGR of 6.3% through 2034.
The United Kingdom industrial cleaning chemical market is envisioned to develop at a CAGR of 6.0% from 2024 to 2034.
China sales of industrial cleaning solvent are expected to strengthen at a CAGR of 5.5% through 2034.
The United States industrial cleaning solvent market is anticipated to thrive at a CAGR of 5.1% through 2034.

Competitive Landscape

Technological improvements, regulatory demands, and environmental concerns are some factors that propel the fierce competition in the industrial cleaning solvent industry. Prominent industrial cleaning solvent providers seek market supremacy by forming lucrative partnerships, expanding distribution networks, and developing innovative formulas.

Market forces such as pricing tactics, supply chain efficiency, and customer service significantly shape the competitive edge. The market is becoming more viable as industrial cleaning solvent manufacturers prioritize sustainability and safety while investing more in environmentally friendly solutions to suit changing customer needs and regulatory requirements.

Noteworthy Developments

At its Ludwigshafen Verbund facility, BASF launched a new methane sulfonic acid production facility in May 2022.
The tertiary amine capacity expansion at Eastman Chemical Company was completed in February 2022. Its manufacturing facility in Ghent grew as a result, becoming the leading tertiary amine facility on the planet.

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Industrial Cleaning Solvent Market Key Players

Royal Dutch Shell Plc
Eastman Chemical Company
LyondellBasell Industries Holdings B.V
Ashland Global Holdings Inc

Key Segmentation of the Market

By Application:

General and Medical Device Cleaning
Metal Cleaners
Disinfectants
Commercial Laundry
Food Cleaners
Others

By End-use industry:

Manufacturing and Commercial Offices
Healthcare
Retail and Food Service
Hospitality
Automotive and Aerospace
Food Processing
Others

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Global Crown Closures Market Set to Reach USD 1,389.47 Million by 2033 | FMI

Global Crown Closures Market

The market for crown closures is anticipated to be worth US$ 1,096.1 million in 2023 and US$ 1,389.47 million in 2033. Throughout the projection period, sales of crown closures are anticipated to grow at a CAGR of 2.4%.

The last steps in the packing process are crown closures. The integrity of the final product depends on them being one of the most crucial steps in the entire process. Crown closures are crucial elements of product packaging and they significantly enhance the use and appeal of the products.

Aluminum crown closures account for more than 70% of the total consumption of crown closures, according to the report. Most sales are registered by small-diameter (26mm) crown closures, compared to crown closures with large diameter (29mm).

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Key Market Drivers

Versatile Applications: Crown closures are essential components in the packaging process, used across diverse industries such as food and beverages, pharmaceuticals, cosmetics, and household goods. Their functionality and aesthetic appeal significantly contribute to product integrity and consumer satisfaction.
Rising Demand in Food and Beverage Industry: The food and beverage industry, which includes carbonated drinks, bottled water, alcoholic beverages, ketchup, and mayonnaise, is a major driver of crown closures demand. The sector’s growth and increasing consumer preferences for packaged products boost the need for effective closure solutions.
Sustainable Packaging Initiatives: Manufacturers are increasingly focusing on sustainable packaging by incorporating post-consumer resin (PCR) and other recyclable materials into crown closures. These eco-friendly initiatives attract environmentally conscious consumers and help companies meet sustainability targets.
Technological Advancements: Innovations in crown closure design and production processes, such as the use of automation and advanced materials, enhance the functionality and recyclability of these products. This technological progress is expected to drive market growth.
Strategic Marketing Activities: Key market players engage in partnerships, product maximization, investments, and acquisitions to expand their market presence and improve production capabilities. These activities are crucial for driving the sales of crown closures.

Beer Accounts for More than 70% of the Demand for Crown Closures

The growth of food and beverages market has been closely influencing the performance of crown closures market. According to FMI’s analysis, alcoholic beverages, particularly beer and wine, will remain the most prominent end use categories in crown closures market. Beer currently holds just-over 70% share in the global demand for crown closures, followed by carbonated soft drinks.

While consumption of crown closures is likely to be sustained by increasing beer production as well as consumption, it has been observed that emergence of superior packaging alternatives in the beverages sector is particularly translating into the falling demand for crown closures in the carbonated soft drinks category.

According to FMI’s analysis, rapidly growing preference for PET (polyethylene) bottles over glass bottles for packaging of carbonated soft drinks will continue to hold significant impact on the demand for crown closures in years to come.

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Emerging Regional Markets to be on Forefront Owing to Increasing Uptake of Beer, Wine, & Other Alcoholic Drinks

Led by China, Asia Pacific is projected to remain the preeminent market for crown closures manufacturers. Within APAC that currently accounts for an approximate volume share of a third of the total consumption of crown closures, the ASEAN countries, followed by India, will also be among the prominent markets for crown closures over the coming years.

Shifting dietary preferences of urban consumers, considerably increasing consumption of alcoholic beverages by younger demographics, and increasing spending power strongly backed by changing priorities will continue to collectively uplift the overall consumption of spirits, particularly beer and wine, in developing Asian countries. This according to the report will sustain the sales of crown closures in the near future.

The constantly improving export scenario of beer and soft drinks in China is especially offering a strong impetus to the country’s and in turn APAC’s crown closures market, as per FMI’s findings. Moreover, strengthening foothold of European and American beverage brands within Asian markets will also play a vital role in generating steady demand for crown closures.

Latin America is also cited as an attractive market for crown closures owing to the increased production and consumption of beer and sparkling wine within the region.

However, rapid emergence of ring pull caps as an excellent alternative for crown closures is likely to affect the market growth in North American region. Furthermore, as the US-based beverage manufacturers are already looking forward to switching to recyclable plastics (cans and bottles) for beverage packaging, demand for crown closures is highly likely to be hampered within the region. The report opines that the falling beer production rate in North American markets will remain the key deterrent influencing crown closure sales.

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Crown Closures Market: Competition Landscape Analysis

FMI’s report covers deep-dive strategic profiles of some of the key competitors operating in the global crown closures market landscape, including Astir Vitogiannis, Avon Crowncaps & Containers Nigeria Limited, Avon Crowncaps & Containers Nigeria Limited, Continental Crowns and Closures, Crown Holdings, Inc., Finn-Korkki Oy, Manaksia Industry Ltd., Nippon Closures Co. Ltd, Oricon Enterprises Limited, Pelliconi & C. SPA, Samhwa Crown & Closure Co., Ltd, Supertech-Crown Caps, TOKK Company, and Viscose Closures Ltd.

In addition to designing effective penetration strategies for entering new beer and wine categories, as well as mineral water segment, leading players in crown closures manufacturing landscape are focused on a few profitable trends such as customized crown closure designs, and embossed crown closures or those imprinted with raised figure. Several companies are also strategizing on the quality and material used in crown closures for efficient corking.