Market Research Blog – Page 1791 – New Product Development

Rising Popularity of Ready-to-eat Seafood Drives Fish Processing Innovation! FMI Anticipates a Strong 5.9% CAGR by 2033

The fish processing market size is estimated to attain a value of US$ 368,460.4 million by 2033, up from its 2023 value of US$ 213,619.7 million, showcasing a projected CAGR of 5.9%

Increasing demand for seafood is the key driver fueling the fish processing industry’s growth. Overfishing is the primary restraint, and with this, the availability of fish decreases. Moreover, there is a potential threat to the fish processing market due to the possibility of customer preferences changing in the future. If customers shift towards plant-based food options, it could adversely impact the demand for fish products.

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Market Opportunities

The market offers numerous opportunities, primarily because it is likely to experience significant growth with a CAGR of 5.9% expected through 2033. One of the key reasons driving this growth is the increasing demand from customers for healthy and sustainable food varieties, and seafood is perfectly suited to fulfill this demand.

The market is experiencing significant growth, and one excellent factor contributing to this is the increasing popularity of ready-to-eat and ready-to-cook seafood products. This trend is likely to fuel market expansion during the forecast period. Additionally, the current trend of customers acquiring online food deliveries to their homes is another reason behind the expansion of the fish processing market.

Key Takeaways

The fish processing industry is experiencing robust and steady growth, and it is anticipated to maintain a notable CAGR of 5.9% from 2023 to 2033. This positive trend points toward promising prospects for the industry.
The fish processing industry is poised for exceptional growth, as it is projected to reach an impressive revenue of US$ 368,460.4 million by 2033. This highlights its bright future and substantial market potential.
In 2022, the United States asserted its dominance in the fish processing industry, holding an impressive market share of 21.1%. This notable percentage highlights the country’s commanding position in the industry.
In 2022, Germany established a strong presence in the fish processing industry, securing a substantial share of 7.8%. This notable achievement placed the country ahead of its competitors in the industry.
In 2022, Japan secured a notable position in the fish processing industry by capturing a significant share of 4.4%, demonstrating its growing presence and competitiveness in the industry.
India is expected to demonstrate strong growth in the fish processing industry, with a projected CAGR of 5.6% during the forecast period. This growth forecast reflects the country’s potential to expand its market presence and make significant progress in the industry.

Competitors Winning Strategies

Competitors in the fish processing market are implementing numerous strategies, such as building their brands to gain customer trust and loyalty. They are also expanding their operations into new markets to foster business growth. Additionally, they are creating new channels, like the online seafood market, to attract new customers.

They are introducing new products, such as ready-to-eat and ready-to-cook meals since these have become increasingly popular in the market due to high demand. Additionally, they are creating new flavors and varieties in the ready-to-eat and ready-to-cook categories. This initiative is aimed at providing customers with a wide range of options to choose from.

Thai Union Group, Maruha Nichiro, Austevoll Seafood, Icelandic Seachill, Wild Planet Foods, John West Foods, Birds Eye Foods, and Conagra Brands are a few of the leading competitors in the fish processing market.

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Recent Developments:

Austevoll Seafood: Austevoll Seafood stated that it is spending US$ 100 million on an additional fish processing factory in Norway. The factory is anticipated to be finished in 2024 and is capable of producing 40,000 tons of fish annually.
Icelandic Seafood: Icelandic Seafood stated that it is going to purchase the fish processing business of Faroese Prime Seafood for US$ 165 million.
Wild Planet Foods: Wild Planet Foods said it is planning to raise its manufacturing capacity by 50%. The development is scheduled to be finished in 2024, enabling the firm to manufacture an extra 10 million fish cans annually.
Key Segments
By Source:
Freshwater
Marine
Inland
By Application:
Food
Feed
Biomedical
Others
By Processing Type:
Frozen
Preserved
Dried
Others
By Equipment:
Slaughtering
Deheading & Gutting
Skinning
Scaling
Filleting
Desliming & Rinsing
Others
By Region:
North America
Latin America
Asia Pacific
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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact FMI:
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
LinkedIn| Twitter| Blogs | YouTube

Accelerating Growth in the Global Lactose-Free Cheese Market Opportunity by 2035

The global lactose-free cheese market share is estimated to be worth USD 865.1 million by 2025. It is projected to reach USD 1,973.2 million by 2035, reflecting a CAGR of 8.6% over the assessment period 2025 to 2035.

The Lactose-free Cheese’ market’s growth is anticipated to be attributed to its widespread usage in the food & beverage industry, where it aids in moisture absorption, keeps the product’s free-flow texture, and organoleptic qualities, thus extending its shelf life. It’s also utilized in other industries like animal feed, where increased demand for high-quality feed and an expansion in the number of feed additives, particularly in the compound feed industry, have been significant growth drivers of the market.

This was owing to its application in various end-use industries ranging from food & beverage, animal feed to fertilizers where it is used to prevent the lumping of powder form of products by creating a water-repelling layer of dust particles and absorbing the excess moisture.

Market Drivers and Trends: Lactose-free dairy products, including cheese, have gained popularity as they provide essential nutrients such as vitamins and calcium to those who are lactose intolerant. Consumers are increasingly drawn to lactose-free options due to their expanding health appeal. The quality and variety of lactose-free dairy products have significantly improved, offering a broader range of choices, which has fueled the rapid growth of this market segment.

Consumer Insights: According to a survey by FMI, 40% of customers purchased plant-based products for health benefits, 30% were interested in trying them, and 25% did so due to lactose intolerance in their households. While plant-based alternatives hold a smaller market share, they have seen a surge in popularity, driven by increasing awareness of their environmental and health benefits. The Plant-Based Foods Association (PBFA) reported an 11.4% increase in U.S. plant-based food retail sales in 2019, highlighting the growing demand for these products.

Regional Insights:

United States: The U.S. market for lactose-free cheese is set to grow, driven by the increasing focus on health and wellness. Companies are targeting consumers with allergies and lactose intolerance, offering improved flavors and quality in plant-based dairy alternatives.
United Kingdom: The demand for clean-label products and plant-based alternatives is pushing the growth of lactose-free cheese. Consumers in the U.K. are increasingly incorporating cheese into various fast-food products and recipes, boosting market expansion.
China: High lactose intolerance rates, especially in East Asia, are driving the demand for lactose-free dairy products. As dairy consumption rises, the market for lactose-free cheese is expected to grow, supported by the country’s aging population and increasing health awareness.

The expansion of e-commerce, increased internet penetration, and the growing use of smartphones make online shopping a convenient option for consumers. Online platforms offer a wide range of products and hassle-free home delivery services, contributing to market growth.

Competition Outlook

The competition landscape of the lactose-free cheese market is intense. Arla Foods Amba, UK Ltd., and Amy’s Kitchen, Inc., among others are some of the major market players and contribute significantly in terms of research & development investment as well as further towards the creation premium-quality lactose-free cheese. Such companies also seek to multiply the investment that they can dedicate to the efficient manufacturing of developing innovative products to maintain product quality, growth rates, as well as its efficiency.

For instance:

In April 2024, Prairie Farms Dairy unveiled its four new lactose free dairy options i.e. Gold Standard for cottage cheese & sour cream in 16-ounce tubs and lactose free whole & 2% milk in gallons. The lactose free gallon option offers the convenience of a larger multi-serve container and more value.
In March 2024, Daiya Foods launched its new dairy-free cheese shreds tailored especially for food service companies. Daiya Oat Cream blend shreds have a developed a perfect recipe for a full melt, providing great cheese coverage.

General Mills, Arla Foods -Top Two Lactose-free Cheese Brands That Will Satisfy Your Craving

General Mills, Inc. is an American company that produces and markets branded consumer goods for sale in retail establishments. The company’s ‘accelerate’ strategy directs how it builds brands, innovates nonstop, scales up, and stands up for what’s right in the world. A few of its well-known trademarks in its portfolio are Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie’s, Wanchai Ferry, Yoki, and others.

In March 2022, with the introduction of Cinnamon Toast Crunch Creamy Cinnamon Spread, B&G Foods is providing consumers its first chance to spread, swirl, and drizzle the flavor of their favorite cereal over just about everything. Similarly, in May 2022, General Mills disclosed that it will pay Eagle Family Foods Group USD 610 Million for the operations of Hamburger Helper and Suddenly Salad. The closing of this deal is anticipated for later this year.

Arla Foods Amba, on the other hand, is a Danish-Swedish multinational cooperative with headquarters in Viby, Denmark. It is the biggest dairy firm in the UK, as well as the largest producer of dairy products in Scandinavia. The Swedish dairy cooperative Arla and the Danish dairy business MD Foods merged on April 17, 2000, to create Arla Foods. According to milk volume, Arla Foods is the fourth-largest dairy firm in the world and seventh in terms of revenue.

In 2022, Arla created the Don’t Cancel the Cow advertising campaign, alleging that the increasing vegetarianism among young people is the reason the dairy industry’s future is questionable. Through this campaign, the company is focusing on millennials as they are more aware about the effects that cows’ milk has on the environment.

Leading Brands

General Mills,
Alpro UK Ltd.
Amy’s Kitchen, Inc.
Arla Foods Amba
Violife ( Flora Food Group)
Miyoko’s Creamery
Field Roast
Treeline Cheese
Kite Hill
Prairie Farms Dairy
Daiya Foods, Inc.
Cabot Creamery
Others

Key Segments of the Report

By Product Type:

As per Product Type, the industry has been categorized into Blue Cheese, Brick Cheese, Camembert Cheese, Cheddar Cheese, Cottage Cheese, Mozzarella Cheese, and Others.

By Form:

As per Form, the industry has been categorized into Cheese Blocks, Cheese Slice, Cheese Spread, Triangle, and Others.

By Distribution Channel:

This segment is further categorized into Business to Business and Business to Consumer.

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Central Asia, Russia and Belarus, Balkan & Baltics, and the Middle East & Africa.

About Future Market Insights (FMI)

Cider and Perry Market Set to Reach USD 124.7 Billion by 2033: Investment Opportunities Surge Amid Rising Consumer Demand

The global cider and perry market size is experiencing robust growth, with demand anticipated to be valued at $92.4 billion in 2023, and is forecasted to grow at a CAGR of 3%, reaching $124.7 billion by 2033. This growth trajectory is attributed to shifting consumer preferences towards ready-to-drink beverages and the increasing popularity of craft beers.

Market Dynamics and Growth Factors

From 2016 to 2022, the cider and perry market registered an impressive CAGR of 6%. The market’s expansion is driven by the introduction of mass-market brands offering cider drinks at competitive prices and a rising demand for beer alternatives in mature markets like the USA and Australia. This trend is creating significant opportunities for cider and perry manufacturers to innovate and capture a broader consumer base.

Draught cider and perry currently account for 46.8% of the market share, with the beverage gaining popularity among both young and older demographics. The market’s growth is further supported by increasing production volumes, market innovation, and product diversification.

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Regional Insights

North America holds a substantial share of 34.7% in the global cider and perry market. The presence of leading cider producers and high regional demand, coupled with increasing disposable incomes, is driving market growth. Technological advancements and significant R&D initiatives in the USA and Canada are contributing to the region’s dominance.

Europe is projected to capture a 40.7% market share by 2023. The region’s market is bolstered by a rising number of breweries and innovative cider flavors, attracting a diverse consumer base. High consumer spending on food and beverages and the presence of numerous market players further fuel growth.

The Asia Pacific region is expected to exhibit significant growth over the forecast period. The rapidly growing food and beverage industry, particularly in emerging markets like India and China, is driving demand for cider and perry. Manufacturers are responding by increasing production to meet rising consumer demand for premium alcohol brands and varied flavor profiles.

Market Challenges

Despite the promising growth prospects, the cider and perry market faces challenges. Increasing health awareness among consumers about the negative impacts of alcoholic beverages poses a potential impediment. Additionally, distinguishing cider and perry products from sparkling wines and raising product awareness remain key challenges for market participants.

Competitive Landscape

The cider and perry market is highly competitive, with major players such as Crispin Cider Company, WOODCHUCK CIDER, Louis Dupont, Ace Cider, and Aspall leading the market. Several regional players are also making significant contributions, particularly in the Asia Pacific region.

Notable recent developments include:

Pall Corporation‘s acquisition of Pall-Austar Lifesciences Limited in March 2022, aimed at expanding manufacturing capacity to support single-use technology supply chain demand in China.
Vintage Wine Estates‘ acquisition of ACE Cider in November 2022, enhancing their product portfolio with one of the fastest-growing craft cider brands in the USA.

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Key Segments Profiled in the Cider and Perry Industry Survey

By Product Type:

Draught
Packaged
Keg

By Trade Type:

Off Trade
On Trade

By Region:

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

About Future Market Insights (FMI)

Yellow Fats Market Set to Reach US$ 42.7 Billion by 2032, Driven by Bakery and Confectionery Demand

The global yellow fats market revenue is poised for substantial growth, expected to reach a valuation of US$ 42.7 billion by 2032, up from US$ 28.3 billion in 2022, marking a steady CAGR of 4.2% over the forecast period. This growth is propelled by the rising popularity of yellow fats in the bakery and confectionery industries, alongside the expanding foodservice sector.

Robust Growth Driven by Bakery and Confectionery Industries

Yellow fats, encompassing butter, margarine, and other spreads, have become essential in the bakery and confectionery sectors due to their smooth texture, easy spreadability, and stability. These attributes make yellow fats ideal for use in dough, puff pastries, croissants, and other pastry items, enhancing flavor, texture, and overall quality. The market has historically grown at a CAGR of 3.6%, with the bakery industry playing a pivotal role in this expansion.

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Foodservice Industry Expansion and Regulatory Support

The ongoing expansion of the foodservice industry, coupled with increasing production of food products globally, is anticipated to drive the yellow fats market forward. Various government agencies, such as the U.S. Food and Drug Administration (FDA) and the U.S. Department of Agriculture (USDA), have introduced stringent guidelines and regulations for butter and margarine-related products, ensuring the quality and safety of these dairy products. These regulations are further boosting consumer confidence and market growth.

Rising Demand for Convenient and Nutritionally Rich Foods

The demand for yellow fats is significantly influenced by the increasing consumption of bakery products, which is projected to contribute to market expansion. Yellow fats maintain their smooth and firm texture throughout the year, making them ideal for confectionery and bakery applications. The growing number of hotels, restaurants, and cafes worldwide is also driving demand, as these establishments prefer to buy yellow fats in bulk and store them for extended periods.

Trends Shaping the Market

Increasing Demand for Butter and Margarine: Spreads are no longer limited to breakfast items. They are extensively used in various dining occasions, workplace lunches, and leisure snacking, enhancing convenience and flavor. The versatility of yellow fat spreads, including butter and margarine, is expected to drive market growth over the forecast period.

Flavored and Nutritionally Enhanced Products: Consumers in the U.S. are showing a growing interest in diverse culinary products, with flavor inspiration being a key factor. Yellow fat spreads, available in various flavors, textures, and scents, are becoming popular choices in grocery stores, contributing to market growth.

Regional Market Insights

U.S. Market: The U.S. is witnessing increased demand for vegetable fat spreads, driven by the need for unique flavors and culinary experiences. This trend is expected to accelerate market growth in the region.

Germany Market: The increasing number of cake shops and the demand for nutritionally beneficial bakery items are driving the yellow fats market in Germany. Yellow fats are widely used in cakes, waffles, confectioneries, and doughnuts, catering to the evolving tastes of consumers.

India Market: The concept of premiumization is pushing the demand for high-quality, value-added food products. Consumers are willing to pay more for items that offer health benefits and exceptional quality, driving the market for premium yellow fat spreads.

Competitive Landscape

The yellow fats market is highly competitive, with key players focusing on product innovation and expansion to cater to the growing demand. Companies such as Bunge, Land O’Lakes, and Danone are introducing vegan and kid-friendly products to deepen their customer relationships.

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Notable Developments:

Bunge Limited: In May 2022, Bunge North America, Inc. signed a deal with Chevron U.S.A. Inc. to establish Bunge Chevron Ag Renewables LLC, focusing on sustainable fuel feedstock production.
Land O’Lakes, Inc.: In June 2022, the company expanded its cheese varieties available in grocery stores, enhancing its product portfolio.
Danone S.A.: In July 2022, Danone introduced the first-ever Dairy and Plants Blend infant formula, catering to the growing demand for plant-based foods.

Yellow Fats Market Outlook by Category

By Product Type:

Butter
Margarines/Spreads

By End-use Application:

Food & Beverage Industry
- Bakery
- Dairy & Ice-cream
- Chocolate & Confectionery
- Spreads, Dressings & Condiments
- Others
Cosmetics & Personal Care Industry
Food Service (Hotels, Restaurants, Cafes)
Household/Retail
- Hypermarkets/Supermarkets
- Traditional Grocery Stores
- Convenience Stores
- Departmental Stores
- Online Retail Stores
- Others

By Region:

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

About Future Market Insights (FMI)

Bentonite Industry Forecast: Market to Reach USD 3.8 Billion by 2033 with a CAGR of 6.5%

The bentonite market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 6.5% from 2023 to 2033. This growth trajectory reflects the increasing demand and expanding applications of bentonite across various industries. Over the past few years, the market has seen considerable expansion, driven by its versatile uses in areas such as drilling fluids, iron ore pelletizing, and pet litter. By 2033, the market is expected to reach a valuation of USD 3.8 billion, underscoring its economic importance and the sustained interest from key industry players.

Because of rising energy demands, the bentonite industry is seeing increased usage in oil and gas drilling activities. Furthermore, numerous applications of bentonite in end-use sectors such as building, Foundry, medicines, and others have caused a surge in demand in recent years and are projected to dominate in the near future.

Infrastructure capitalization is expanding in developing and emerging markets around the world, attracting significant investments in building operations. As a result, raw materials such as building aggregates and bentonite benefit. Because of its swelling properties, bentonite is mostly employed in construction for sealant purposes. Growing construction activity around the world is expected to boost demand for bentonite during the predicted period.

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Key Takeaways

The United States is expected to dominate the North American market, accounting for more than 80% of the market through 2033.
Bentonite solution sales in the United Kingdom are predicted to expand at a staggering 5.5% CAGR by 2033.
During the forecast period, demand for bentonite in China is expected to grow at an outstanding 6% CAGR.
The Drilling Fluids market is estimated to expand at a 6.3% CAGR between 2023 and 2033.
The oil segment is predicted to increase at a CAGR of 6.2%.

“The United States is seeing profitable expansion in the global bentonite market as a result of increased investment by manufacturers aimed at boosting bentonite production capacity. Additionally, expanded oil and gas exploration efforts are likely to lessen reliance on other countries for energy. This is projected to boost bentonite sales in the near future,” says an FMI analyst.

Competitive Landscape

Bentoproduct, a Bosnian organization that produces bentonite-based items, unveiled a takeover strategy to acquire Nemetali, a local mining organization, in January 2023. The securities commission of Bosnia and Herzegovina’s Serb Republic authorized the offer.
According to a research report released in April 2023, Phoslock Environmental technologies, a worldwide environmental technology firm that utilizes bentonite to eradicate extra nutrients from water through agricultural run-off, and industrial, and sewage treatment works, aims to increase operations in Casper.

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Key Companies Profiled in the Bentonite Market

Ashapura Group of Companies
Black Hills Bentonite, LLC
Charles B Chrystal Co. Inc.
Clariant AG
Halliburton Co.
Kemira OYJ
Kunimine Industries Co. Ltd.
Kutch Minerals
Mineral Technologies Inc.
Polymer Drilling Systems (PDS) Co Inc.
Wyo-Ben Inc.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global bentonite market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights by product type (calcium, sodium), by application (drilling fluids, binders, sealants, absorbents, clarification agents), by end use industry (oil, foundry, construction, food, pharmaceuticals) & region (North America, Latin America, Europe, Asia Pacific, and 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 ~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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Booming Electronics Industry Drives Phenoxycycloposphazene Demand: Market to Expand at 5.2% CAGR by 2033

The global market for phenoxycyclophosphazene is expected to reach USD 147.68 million in 2023 and USD 245.88 million in 2033, growing at a compound annual growth rate (CAGR) of 5.2%. The rapid urbanization and population growth of the world has led to an increase in building and remodeling projects more than in the past. The market for phenoxycycloposphazene has been stimulated by the rise in projects, which has increased the demand for paints and coatings.

The sales of phenoxycycloposphazene is expected to rise due to increasing demand for automobiles. In addition, as phenoxycycloposphazene is a key component in manufacturing epoxy resins used in electronic devices, the rising demand for electronic equipment further boosts the market. Epoxy resins’ versatile applications in various industries also contribute to the increased demand for phenoxycycloposphazene. Moreover, ongoing research activities to explore new applications are fostering market expansion. Companies are actively ramping up their manufacturing efforts, further propelling the market during the forecast period.

The market for phenoxycycloposphazene is projected to witness significant growth due to its rising demand as a halogen-free fire retardant in electronics manufacturing during the forecast period. Additionally, the increasing use of phenoxycycloposphazene in paint production, driven by the growing number of construction projects worldwide, is expected to further boost market growth in the coming years. Companies are dedicated to enhancing the product’s UV light resistance. These innovations are expected to expand the application of phenoxycycloposphazene in the forthcoming years.

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Key Takeaways

The demand for phenoxycycloposphazene in the Asia Pacific is projected to grow with a promising CAGR of 5.1% during the forecast period.
North America is expected to generate sales with a CAGR of 4.8% during the forecast period.
Asia Pacific is expected to accumulate over 31% market share in 2023.
By end-user, epoxy resins are expected to generate significant demand with a CAGR of 5.9% during the forecast period.

“Increasing demand for phenoxycycloposphazene as a halogen-free fire retardant in electronics manufacturing is expected to drive market growth during the forecast period,” comments an FMI analyst

Competitive Landscape

The market for phenoxycycloposphazene is characterized by extreme competition, as key industry players are making significant investments to improve their manufacturing capabilities.

Some recent developments in the phenoxycycloposphazene market are:

In May 2021, DuPont announced a USD 5 million investment in its manufacturing units in Germany and Switzerland, aimed at boosting the production capacity of its high-performance automotive adhesives.
In August 2021, Mitsubishi Chemical announced a USD 915 million investment to construct a new unit in Louisiana. As a prominent chemical manufacturer in Japan, the company is expanding its operations with this investment.
In February 2023, the Mitsubishi Chemical Group (the MCG Group) revealed its plan to establish a new facility at the Okayama Plant, aimed at increasing the production capacity of GOHSENX™ and Nichigo G-Polymer™, specialty brands of polyvinyl alcohol resin (PVOH resin). The facility is set to begin operation in October 2024.

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Top Key Players in the Global Market

DuPont
Mitsubishi Chemical
Tianjin Zhongxin Chemtech Co., Ltd.
Zibo Lanyin Chemical Co. Ltd.
J & K Scientific Ltd.
Chembridge International Corp Ltd
T&W GROUP
Skyrun Industrial
Tokyo Chemical Industry Co., Ltd
TCI EUROPE N.V

Key Segments Profiled in the Phenoxycycloposphazene Market

By End-User:

Epoxy Resins
Led Luminous Diode
Copper Clad Plate
Paints
Encapsulating Material

By Application:

Halogen Free Fire Retardant

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Foldable Phones Fueling Ultra-Thin Glass Boom: Market to Expand Significantly Through 2033

The global ultra-thin glass market is poised for substantial growth, with an anticipated compound annual growth rate (CAGR) of 10.7% from 2023 to 2033, projected to surpass USD 29.5 billion by the end of the forecast period. Starting at a valuation of USD 10.7 billion in 2023, this market is driven by the unique properties of ultra-thin glass, such as its remarkable flexibility compared to traditional glass. These characteristics make it highly suitable for applications in flexible screens, wearable technology, and smartphones. The rising popularity of foldable cell phones among millennials further fuels the demand for ultra-thin glass, positioning it as a key material in the future of consumer electronics.

The design of new foldable cell phones is such that they can appeal to buyers who want distinctive items aesthetically. Millennials who wish to differentiate themselves from traditional flat phones are anticipated to buy these.

By 2033, smartphone manufacturers such as Samsung and Oppo are anticipated to release several foldable phone models. This is because these businesses frequently work to be on the cutting edge of technology advancements. Additionally, it is anticipated that this will enhance the brand’s reputation.

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Several people view foldable cell phones as a status symbol as they are typically more expensive than traditional flat-screen phones. Hence, it is likely that luxury companies will sell these phones.

For instance, the much anticipated foldable smartphone from OnePlus, the OnePlus Fold, will soon be available. In 2023, the company might release its first folding product.

Even though OnePlus hasn’t formally confirmed the launch, the upcoming phone will undoubtedly go on sale. It might be able to compete with seasoned rivals such as Motorola and Samsung, who have been active in the foldable phone sector for years.

Remote locations and non-metros are likelier than metro areas to adopt Samsung’s foldable and flip phones. Buying these cell phones has become easier as additional financing options are accessible.

Samsung claimed in August 2023 that 1,50,000 pre-orders for its fifth-generation foldable smartphones, unveiled in India in July, had been placed. While the Galaxy Z Flip5 is marketed at a younger audience, the Galaxy Z Fold5 is intended for business users.

Due to their affordability, materials such as polymer and plastic were employed in older flat phones. However, as ultra-thin glass is more durable than the alternative, smartphone manufacturers use it in foldable phones. This is designed to withstand frequent unfolding and folding without causing screen damage.

Key Takeaways from the Ultra-thin Glass Market Study

The global ultra-thin glass industry exhibited a robust CAGR of 7% in the historical period between 2018 and 2022.
The United States ultra-thin glass industry is anticipated to generate an entire earnings outlook of US$ 3.4 billion from 2023 to 2033.
The United Kingdom’s ultra-thin glass industry is expected to gain a comprehensive revenue scope of US$ 729.9 million through 2033.
In terms of manufacturing process, the float segment is likely to witness a CAGR of 2% in the review period.
In terms of thickness, the less than 0.1 mm segment is expected to register a CAGR of 0% in the assessment period.

“The healthcare sector has experienced significant growth in the past five years. Top medical device makers are incorporating ultra-thin glass into diagnostic instruments, imaging technology, and wearables to improve remote patient monitoring. Manufacturers of ultra-thin glass would plan to collaborate with international governmental organizations. They can decide to use their output for agricultural purposes.” – says a lead analyst at Future Market Insights (FMI).

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Competitive Landscape

With diverse small- and large-scale businesses, the ultra-thin glass industry is highly fragmented worldwide. To meet the shifting consumer needs, they are primarily concentrating on developing innovative products.

Leading companies are developing cutting-edge eyewear to sell to recognized smartphone manufacturing companies. There will soon be more options for foldable smartphones due to the high demand for them. To create success, they are also engaging in research and development initiatives.

For instance,

Galaxy foldables are revolutionizing what is possible for smartphone users worldwide with their inventive experiences and interactions. Key element of Samsung’s foldable devices is ultra-thin glass. It is a special material that keeps its tensile strength and durability even after being folded hundreds of times or more.

Key Companies Profiled

Aeon Glass (Aeon Industries Corp., Ltd); Air-Craftglass Inc.; Asahi Glass Co., Ltd; AvanStrate Inc.

Get More Valuable Insights into the Ultra-thin Glass Market Report

The latest report offers an unbiased analysis of the ultra-thin glass market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.

The market has been analyzed based on the manufacturing process (float, fusion, others), thickness (less Than 0.1 mm, 0.1 to 0.5 mm, 0.5 to 1.0 mm, 1.0 to 1.2 mm), application (touch panel display, semiconductor substrates, fingerprint sensors, others), and end use (consumer electronics, automotive & transportation, medical & healthcare, others) across several regions.

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

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Urea Formaldehyde Market to Reach USD 41,572.36 Million Valuation by 2034, at a CAGR of 1.80%

The urea formaldehyde market, currently valued at USD 33,116.80 million in 2024, is projected to reach USD 41,572.36 million by 2034, exhibiting a compound annual growth rate (CAGR) of 1.80% over the next decade. This growth can be attributed to its widespread applications in the production of adhesives, molding compounds, and finishes, driven by increasing demand from various end-use industries such as furniture, construction, and automotive. As manufacturers focus on enhancing product quality and sustainability, innovations in urea formaldehyde formulations are expected to further bolster market expansion, despite challenges related to environmental concerns and regulatory pressures.

The market prospects for urea formaldehyde manufacturers remain high in end-use industries like furniture and construction. These industries are steadily rising, driven by increasing infrastructure development, surging housing demand, and shifting consumer preferences for modern furniture. In the agriculture sector, the demand for specialty fertilizers is increasing as they consistently supply crops with nitrogen. Thus, ensuring high crop yield, especially for grain crops.

The use of urea formaldehyde is increasing in adhesive applications. These applications are common in end-use sectors like construction, automotive, and electrical appliances. Further, the presence of unorganized end-use industries in countries like India and China is propelling sales of urea formaldehyde in Asia Pacific. This is further supported by the growing demand for cost-effective urea formaldehyde formula in price-sensitive markets of Asia Pacific.

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The global market is consistently receding in growth rate, which can be attributed to the research and development activities that are focused on launching sustainable alternatives to urea formaldehyde. Such steps are being taken in light of the high carbon footprint of urea formaldehyde despite its durability and effectiveness.

“Industry players are finding significant growth opportunities in emerging countries where automotive, furniture, and construction sectors are growing at a substantial rate. These industries call for high urea formaldehyde demand. By setting their base in these countries, manufacturers can multiply their profits,” says an analyst at FMI.

Key Takeaways from the Urea Formaldehyde Market Report

The urea formaldehyde market gained a market value of US$ 32,142.36 million in 2019 and grew to achieve a market valuation of US$ 32,457.29 million in 2023. The market registered a CAGR of 2.30% throughout this period.
Based on the end use, the fertilizer segment is anticipated to register a market share of 91.20% in 2024.
The markets in the United States and Germany are projected to expand at CAGRs of 2.5% and 3.3%, respectively, from 2024 to 2034.
Countries like China, India, and Australia are estimated to record healthy CAGRs of 7.4%, 8.7%, and 6.6%, separately, through 2034.

Competitive Landscape

Key players are optimizing for success in the urea formaldehyde market using different growth tactics. A common expansion strategy is mergers and acquisitions, through which market players gain access to new technologies and expertise. Additionally, players are raising their presence in high-growth geographies, where the construction and furniture sectors are expanding at a pronounced rate. Industry participants are concentrating on product innovation and development to maintain their relevance in upcoming years.

Over the forecast period, market players are projected to focus on optimization of production processes, exploration of waste reduction techniques, and utilization of alternative raw materials. Thus competing on prices with the other players.

Top Key Players

BASF SE
Hexion, Inc.
Hexzachem Sarawak Sdn Bhd
Bakelite Synthetics
Acron PJSC
Asta Chemicals
ARCL Organics Ltd.
Capital Resin Corporation
Biqem
Metadynea

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Urea Formaldehyde Market Segmentation

By Form:

Liquid
Powder
Solid

By End Use:

Furniture
Automotive
Electrical Appliances
Agriculture
Building and Construction
Textile
Others

By Region:

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

About Future Market Insights (FMI)

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

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Rising Construction Activities Propel Impact Resistant Glass Market Growth: 8.6% CAGR from 2024 to 2034

The global impact-resistant glass market is anticipated to reach a valuation of USD 3.4 billion in 2024, driven by the rising trends of customization and personalization. These trends are expected to generate new opportunities, propelling the market forward with a projected compound annual growth rate (CAGR) of 8.6% between 2024 and 2034. This robust growth trajectory is set to culminate in a total market valuation of approximately USD 7.8 billion by 2034, underscoring the significant potential and expanding applications of impact-resistant glass in various sectors.

Nanotechnology is increasingly being applied to glass manufacturing processes to enhance the strength, flexibility, and durability of impact resistant glass. Nano coatings and additives are being used to improve scratch resistance, reduce glare, and enhance the optical properties of glass, offering superior performance in various applications.

The demand for impact resistant glass with soundproofing capabilities is rising, driven by urbanization, traffic noise, and noise pollution concerns. Impact resistant glass products with acoustic insulation properties help mitigate noise transmission, improve indoor comfort, and create quieter environments in residential, commercial, and transportation settings.

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The integration of IoT sensors with impact resistant glass products enables real time monitoring of glass performance, environmental conditions, and security status. Smart glass solutions equipped with IoT sensors can detect impacts, temperature changes, and security breaches, providing actionable insights for preventive maintenance, security alerts, and energy optimization.

The emphasis on fire safety regulations and building codes is driving the adoption of fire rated impact resistant glass in high risk environments such as commercial buildings, industrial facilities, and transportation terminals. Fire rated glass products offer fire resistance, smoke containment, and radiant heat protection, enhancing occupant safety and property protection in the event of a fire.

Key Takeaways from the Market Study

Global impact resistant glass market was valued at US$ 3.1 billion in 2023.
From 2019 to 2023, the market demand expanded at a CAGR of 10.2%.
The market in Japan is expected to expand at a CAGR of 8.8% through 2034.
By interlayer, the polyvinyl butyral segment to account for a CAGR of 8.3% through 2034.

The absolute dollar growth of the market is projected to reach a value of US$ 4.4 billion during the forecast period.
The market in the United Kingdom is expected to expand at a CAGR of 9.6% through 2034.

“The expansion of the healthcare sector, including hospitals, clinics, and medical facilities, is driving the demand for impact resistant glass in healthcare infrastructure. Impact resistant glass enhances patient safety, infection control, and environmental sustainability in healthcare environments, meeting stringent regulatory requirements and infection control standards,” says an Analyst at Future Market Insights (FMI).

Competitive Landscape

Prominent players in the Impact Resistant Glass market are Asahi Glass, Nippon Sheet Glass (NSG), Saint-Gobain, Guardian Industries, Fuyao Glass Industry Group, Central Glass, Sisecam Group, Taiwan Glass, Vitro, S.A.B. De C.V., CGS Holding Co., Ltd., Cardinal Glass Industries, and Euroglas GmbHTop of Form, among others.

Company Portfolio

Saint-Gobain is a multinational conglomerate that produces a wide range of construction materials, including impact resistant glass. The impact resistant glass products of Saint-Gobain are used in architectural glazing, automotive, aerospace, and other industries where safety and durability are paramount. Saint-Gobain focuses on innovation, sustainability, and customer satisfaction in its glass manufacturing operations.
Guardian Industries is a global glass manufacturer that offers a diverse portfolio of glass products, including impact resistant glass solutions. The impact resistant glass offerings by Guardian include laminated glass and tempered glass products designed to withstand high impact and provide safety and security in various applications.

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More Valuable Insights Available

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

To understand opportunities in the impact resistant glass market, the market is segmented on the basis of interlayer (polyvinyl butyral, ionoplast polymer, ethylene vinyl acetate, others), and end user industry (construction and infrastructure, automotive and transportation, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and 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 ~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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Rising Adoption of Opaque Polymers: Environmental Benefits Drive Market Growth to USD 8.7 Billion by 2034

The opaque polymer market size is estimated to garner a valuation of USD 3.2 billion in 2024. The market is anticipated to reach USD 8.7 billion by 2034. The sales of opaque polymers are likely to expand at a CAGR of 10.4% through 2034. The opaque polymer industry is driven by the rising demand from end-user industries such as paints and coatings, adhesives, and construction materials. The increasing preference for opaque polymers over conventional alternatives due to their superior properties like opacity, durability, and weather resistance further fuels market growth. Additionally, stringent environmental regulations promoting the use of eco-friendly materials have led to the adoption of opaque polymers as sustainable alternatives, driving market expansion.

Despite the promising growth prospects, the opaque polymer industry faces challenges such as fluctuating raw material prices, which can adversely affect profit margins for manufacturers. Additionally, concerns regarding the environmental impact of opaque polymers, particularly during production and disposal, pose challenges for market growth. Moreover, intense competition from alternative materials and the availability of substitutes with similar properties can hamper the market’s growth trajectory.

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Recent trends in the opaque polymer industry include the adoption of advanced manufacturing technologies such as microencapsulation and nano-particle dispersion to enhance product properties and performance. Additionally, the increasing focus on customization and tailor-made solutions to meet specific customer requirements drives innovation and product differentiation in the market. Furthermore, the rising demand for high-performance opaque polymers in specialty applications such as automotive coatings, electronics, and packaging reflects evolving consumer preferences and market trends, shaping the industry’s trajectory.

“The growing emphasis on sustainable and eco-friendly solutions opens avenues for innovation in bio-based opaque polymers, catering to environmentally conscious consumers. Furthermore, strategic collaborations, mergers, and acquisitions enable companies to strengthen their market position, expand their product portfolios, and capitalize on emerging market trends and opportunities.” Says Lead Analyst at FMI

Key Takeaways from the Opaque Polymer Market:

Anticipated to grow at a CAGR of 10.6% through 2034, the opaque polymer industry in the United States shows promising expansion.
The opaque polymer industry in the United Kingdom is poised to experience a CAGR of 11.2% through 2034.
China’s opaque polymer industry is expected to expand at a CAGR of 11% through 2034, reflecting substantial growth prospects.
South Korea’s dominance in the opaque polymer market is evident, with a significant CAGR of 12.8% through 2034.
Japan’s opaque polymer industry is forecasted to expand at a CAGR of 11.5% through 2034.

Competitive Landscape of the Opaque Polymer Market

Key players in the industry constantly strive to innovate and differentiate their products to meet the evolving needs of consumers and stay ahead of competitors. The market is characterized by intense rivalry among manufacturers, with a focus on product quality, pricing strategies, and distribution networks.

Companies in the opaque polymer industry are increasingly investing in research and development to develop advanced formulations and technologies. This investment aims to enhance product performance, improve efficiency, and reduce production costs, thereby gaining a competitive advantage in the market. As demand for opaque polymers continues to grow, competition is expected to further intensify. Market participants are exploring opportunities in emerging regions and niche segments to diversify their product portfolios and capture untapped market potential.

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Recent Developments in the Opaque Polymer Market

BASF SE has introduced a new product, Acronal® EDGE 6295, an opaque polymer with exceptional concealing performance and scrub resistance for interior paint. The product may cut the quantity of titanium dioxide, a pricey and rare pigment, by up to 20%.
Evonik Industries AG has developed TEGO® Twin 4200, a multifunctional ingredient that may improve the performance of opaque polymer-based paints. The method can increase paint’s wetting, leveling, and anti-cratering qualities while reducing foam formation and viscosity.
DuPont de Nemours, Inc. increased the manufacturing capacity of Ti-Pure™, a brand of titanium dioxide, by 150,000 metric tons annually at its Altamira location in Mexico. The development will help to meet the increased demand for titanium dioxide, which is used with opaque polymer to provide high-quality concealing and whitening in paints and coatings.
LyondellBasell Industries NV has purchased A. Schulman, Inc., a top manufacturer of high-performance plastic compounds, composites, and powders. The purchase will expand LyondellBasell’s range of specialized goods, including opaque polymer, which is used in various industries, including construction, packaging, and automotive.

Key Companies in the Market

BASF SE
Dow Chemical Company
Evonik Industries AG
DuPont de Nemours, Inc.
LyondellBasell Industries NV
Formosa Plastics Corporation
Mitsui Chemicals, Inc.
Arkema SA

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Key Segmentation

By Type:

Solid Content 30%
Solid Content 40%

By Application:

Paints and Coatings
Personal Care
Detergents

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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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