Market Research Blog – Page 1810 – New Product Development

Future Market Insights Predicts Strong Growth Trajectory for Global Phosphate Conversion Coatings Market, Reaching US$ 2,359.6 million by 2028

Increasing adoption in the production of casing connections to enhance their sealing performance is fueling the demand for phosphate conversion coatings. Future Market Insights (FMI), As per exhaustive research by FMI, the global phosphate conversion coatings market is poised to total US$ 1,863.6 million in 2022.

Consecutively, increasing demand for automotive vehicles across countries such as the USA, China, Germany, and India is projected to aid the growth in the market. On account of this, sales of phosphate conversion coatings are projected to reach a 4.0% CAGR, surpassing US$ 2,359.6 million over the forecast period between 2022 and 2028.

Phosphate conversion coatings transform the basis metal surface into a non-metallic crystalline surface. This enhances appearance, improves corrosion resistance, and promotes adhesion & lubrication. Hence, these coatings are extensively being used across the automotive industry to enhance auto components such as car frames, engine mounts, and wheels.

Growing demand for the treatment of aluminum, zinc, and steel for creating a thin adhering layer as a foundation to subsequent painting and coatings across the building and construction industry is further driving the growth in the market. This has assisted the market to exhibit 4% year-over-year growth in 2021.

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Based on product type, manganese phosphate conversion coatings are anticipated to emerge as the most preferred coating. As per FMI, the segment is poised to exhibit growth at 4.3% CAGR through 2028. Excellent oil retention and wear resistance properties for corrosion resistance and lubricity are factors facilitating the growth in the segment.

“Increasing research and development (R&D) activities for developing preventive measures to increase the life of the equipment using advance eco-friendly coating solutions across the chemical and oil & gas industries are favoring the growth in the market,” says a FMI analyst.

Key Takeaways from Phosphate Conversion Coatings Market Study

The USA market size is anticipated to total US$ 294.8 Mn, accounting for over 75.4% of total market share by the end of 2022.
China is projected to emerge as a highly remunerative market, accounting for around 1/3th of the total phosphate conversion coatings sales between 2022 and 2028.
Germany is expected to exhibit steady growth across Europe, accounting for nearly 20.5% of the revenue share through 2028.
India is forecast to account for a significant share in the Asia Pacific market, owing to the increasing demand for automotive vehicles in the country.
On the basis of end-use industry, the automotive segment is estimated to register the fastest growth in the market, accounting for more than 47.2% of the sales by 2028.

Key Drivers

Increasing use of phosphate conversion coatings in underground pipelines, petrochemical equipment, and offshore rigs, owing to its excellent galling protection properties is propelling the demand across the oil & gas industry.
Growing usage of manganese phosphate conversion coatings to prevent metal-to-metal contact between moving parts of automotive vehicles is rising the sales across the manganese segment.

Key Restraints

The increasing shift of customer preference towards eco-friendly solutions such as nano-ceramic conversion coatings is hampering the growth in the market.
Implementation of stringent regulations on toxic and heavy metals use across the US and Germany, is encouraging automakers to use phosphorus-free conversion coatings, which is hindering the sales in the market.

Competitive Landscape

Key manufacturers in the phosphate conversion coatings market are investing in strategic collaborations, merger, and acquisition to expand their production capacities. Also, some of the companies are focusing on developing and launching of new phosphate conversion coatings to expand their product portfolio. For instance,

In September 2020, PPG Industries, Inc, a global supplier of paints, coatings, and specialty materials announced showcasing its eco-friendly and high-performance coating products and technologies such as DESOTHANE® CA 9000 basecoat/clearcoat system, MASTER’S MARK™ ECO TOUCH™ interior latex coatings, ENVIROCRON® EXTREME PROTECTION EDGE powder coatings, and other to increase its market share.
In January 2018, BASF’s coatings division, a leading conversion coatings manufacturer announced acquiring a global supplier of surface treatment technologies Chemetall. The acquisition assisted the company to expand its surface treatment product portfolio and strengthen its customer base in the coating market

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Some of the key players operating in the market profiled by FMI are:

Henkel AG & Co. KGaA
PPG Industries, Inc
The Sherwin-Williams Company
Axalta Coating Systems, LLC
Kansai Paint Co., Ltd.
Chemetall GmbH
Nihon Parkerizing Co., Ltd.
Keystone Corporation
Freiborne Industries, Inc.
Hubbard-Hall Inc.
Crest Industrial Chemicals, Inc.
Westchem Technologies Inc.

More Valuable Insights on Phosphate Conversion Coatings Market

A new report published by FMI offers an in-depth analysis of the global phosphate conversion coatings market, uncovering vital dynamics accelerating the market growth over the assessment period. The survey also forecast sales projections for phosphate conversion coatings market with detailed segmentation:

By Product Type:

Manganese Phosphate Conversion Coating
Iron Phosphate Conversion Coating
Zinc Phosphate Conversion Coating

By Substrate:

Cast Iron
Steel
Others (Aluminum, Magnesium, Titanium)

By End-use Industry:

Automotive
Food & Beverages
Consumer Appliances
Others (Healthcare, Chemical/ Petrochemical, Aerospace, etc.)

By Region:

North America
Latin America
Western Europe
Eastern Europe
South East Asia & Pacific
China
India
Japan
Middle East & Africa

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Rising Industrial Applications and Construction Boom Propel Global Formaldehyde-Free Resin Market Towards US$ 16,257 Million

The characteristics of formaldehyde-free resin include robust resistance to moisture with good adhesion properties. As such, formaldehyde-free resins are used to bind fiberglass filaments in fabricating industrial nonwovens inclusive of fiberglass webs used in the insulation of roofing, HVAC filters, and floorings.

The global formaldehyde-free resin industry size was worth US$ 8,346.7 Million in the year 2022 and is expected to reach US$ 16,257 Million by the year 2032 at a CAGR of 6.9% between 2022 and 2032.

Wood adhesives are used on an extensive note in the furniture vertical and offer advantages like appropriate adhesion to wood, enhanced balance between flexibility and rigidity, and resistance to fatigue and water. There are fiberglass substrates used in automotive, infrastructure, and chemicals vertical; which are bound with adhesives providing resistance against corrosion with electrical insulation.

Advantages of resin finishing in textile vertical include enhanced dimensional stability and shape retention, smoother and softer fabric surface, simpler to iron, enhanced wet fastness of prints and dyeing, better appearance, and greater wash resistance of the mechanically produced luster (of fiber blends and the stiffening embossed finished, oil-repellents, and water-repellents).

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At the same time, the fact that the initial processing cost of formaldehyde-free resin is higher can’t be ignored. Plus, consuming carcinogenic formaldehyde could prove to be detrimental to human health. These factors could act as restraints to the formaldehyde-free resin market in the forecast period.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Formaldehyde-free Resin Market’. The team of analysts and consultants is there to execute through its 360-degree view across macros and micros.

“With formaldehyde-free resin being excessively used for insulation at residential, commercial, and industrial level, the global formaldehyde-free resin market is likely to grow well in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from the Formaldehyde-free Resin Market

North America holds a significant market share due to rising utilization of formaldehyde-free resins in several verticals like paper, plywood, textiles, coatings, and likewise.
Europe is expected to witness a substantiation in the formaldehyde-free resin market going forward due to the deployment of these resins in automotive, construction, and other verticals.
The Asia-Pacific is expected to grow at a rapid pace in the formaldehyde-free resin market due to modernization of infrastructure and rising urbanization.

Competitive Analysis in Formaldehyde-free Resin Market

Bitrez Ltd. comes across as a manufacturer of chemicals and polymers. It, recently, did announce partnership with Georgia-specific Chemicals to distribute Curaphen brand; which is inclusive of formaldehyde-free phenolic polymer resins and low phenol in the US, Canada, and Mexico.
Allnex did introduce CYMEL NF-3041 resin of late. It’s a partially n-butylated, formaldehyde-free crosslinking agent delivered in n-butanol.
Ingevity, in November 2019, did come up with AltaPrint – a phenol- and formaldehyde-free modified resin to cater to commercial packaging and printing market.
The Dow Chemical Company, in September 2019, tabled MAINCOTETM AEH-10 Acrylic Epoxy Hybrid. It’s a formaldehyde-free resin designed for creating two-component, high-performance coatings useful in commercial, residential, and industrial coatings.

Key Companies Profiled

DSM Inc.
Georgia Pacific Chemicals LLC
The Dow Chemical Company
Fraunhofer-Gesellschaft
EGGER Group
NineSigma Inc.
BASF SE
Allnex Group
Lanxess AG
Hexion

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What does the Report say?

The research study is based on application (isocyanates and oxygenates, EDC/PVC, inorganic chemicals, chloromethanes, solvents and electrolysis, pharmaceuticals, and electronics), and by end-use (paper and pulp, water treatment, chemicals, plastics, pesticide, and durable pipes).
With formaldehyde-free resin being deployed at a larger scale in developing long-lasting structures and high-rise skyscrapers (in the form of a concrete plasticizer), the global formaldehyde-free resin market is slated to witness grandeur in the upcoming period.

Key Segments Covered in the Formaldehyde-free Resin Market Report

By Product Type:

Wood Adhesive Formaldehyde-free Resin
Foil Bandaging Adhesive Formaldehyde-free Resin
Fiberglass Adhesive Formaldehyde-free Resin
Mineral Fiber Adhesive Formaldehyde-free Resin

By End Use:

Formaldehyde-free Resin for Residential Insulation
Formaldehyde-free Resin for Commercial Insulation

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Advancing Sustainability: Flue Gas Desulfurization System Market Grows, Forecasted at US$ 36,593.3 million by 2033

The global market size is slated to surpass a valuation of US$ 22,252.3 million in 2023 and is anticipated to clock a valuation of US$ 36,593.3 million by 2033. The flue gas desulfurization system industry share is forecasted to thrive at a CAGR of 5.1% from 2023 to 2033.

Flue gases from power stations, industrial facilities, and other sources that burn fossil fuels are processed using a method called flue gas desulfurization (FGD) to reduce sulfur dioxide (SO2) emissions. To combat air pollution and minimize hazardous emissions, governments throughout the world are enacting strict environmental laws. Sulfur dioxide is a significant atmospheric pollutant that causes acid rain and has detrimental effects on human health. Industries have been implementing FGD systems to considerably reduce SO2 emissions in order to fulfill emission limits and comply with environmental laws. Implementation of further governmental regulations is expected to proliferate market growth during the forecast period.

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In addition to removing SO2, FGD systems are also able to lower dangerous pollutants like particulate matter (PM), nitrogen oxides (NOx), and mercury (Hg). The potential of FGD systems as a component of a multi-pollutant management approach has been recognized by governments and businesses, making them a preferred method of minimizing environmental effects as a whole. The increasing adoption by end-user industries is predicted to bolster market growth.

The global quest for cleaner, more sustainable energy sources has resulted in the incorporation of renewable energy and the eventual retirement of older, more polluting power plants. By lowering emissions from existing fossil fuel-based power plants, FGD systems serve a crucial role in bridging the transition phase as greener energy sources gain popularity.

Key Takeaways from Flue Gas Desulfurization System Market Report:

In 2018, the global market size stood at US$ 17,619.2 million.
The market expanded at a CAGR of 4.7% from 2018 to 2022.
In 2022, the global market size stood at US$ 21,172.5 million.
The wet flue gas desulfurization system segment captured 34.6% of global market shares in 2022.
The flue gas desulfurization system for the power generation segment acquired 57.80% of global market shares in 2022.
India captured 5.2% of global market shares in 2022.
The United States captured 21.8% of global market shares in 2022.
China captured 17.1% of global market shares in 2022.
The United Kingdom captured 2.3% of global market shares in 2022.

Recent Development Observed by FMI:

GE announced its plans to reduce emissions at Anuppur Thermal Power Plant by 51000 tons of SO2 in January 2022. Apollo International Limited will supply MB Power (Madhya Pradesh) Ltd. with electricity as part of the partnership. The power source, General Electric (GE), also provided critical components and designed the entire Wet Flue Gas Desulfurization (WFGD) system for the 2X600 MW Anuppur Thermal Power Plant in Madhya Pradesh. GE plans to eliminate 51,000 tons of SO2 annually and clean 7.4 million cubic meters of flue gas per hour as part of India’s effort to lessen the environmental impact of thermal power facilities. The project is going to allow the end-user to comply by 2024 with SO2 emission standards for thermal power plants.

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Key Players in the Global Market

Babcock & Wilcox Enterprises Inc.
Masulex Environmental Technologies
FLSmidth & Co. A/S
Thermax Limited
Clyde Bergemann Power Group
Burns & Mcdonnell
Alstom SA
Mitsubishi Electric Corporation Ltd.
Hamon Corporation
Valmet
DUCON Infratechnologies Ltd.
GE Power India Limited
Tata Projects
NTPC Limited

Flue Gas Desulfurization System Market Segmentation

By Type:

Wet Flue Gas Desulfurization System
Dry Flue Gas Desulfurization System
Semi Gas Flue Gas Desulfurization System

By Application:

Power Generation
Chemical Processing
Iron and Steel
Cement Manufacturing
Others

By Region:

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

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Aesthetic Medical Devices Market is anticipated to grow steadily at a rate of 3.20% CAGR to reach US$18.82 Billion by 2034 | FMI

The desire to look and feel our best is fueling a growing market! The Aesthetic Medical Devices Market, currently valued at US$13.73 billion in 2024, is expected to reach US$18.82 billion by 2034. This translates to a steady increase of 3.20% CAGR (Compound Annual Growth Rate) over the next decade. This trend highlights the rising popularity of non-surgical and minimally invasive procedures for improving appearance and boosting self-confidence.

In addition to that, the popularity of minimally invasive and non-invasive aesthetic operations is expanding internationally as a result of loose facial skin, particularly around the eyes, jowls, and cheeks; and dry or roughened skin, among other important changes that occur as a person ages.

Furthermore, the demand for aesthetic devices is rising due to the growing popularity of cosmetic operations among those seeking to improve their looks and stand out from the crowd.

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Key Takeaways from the Aesthetic Medical Devices Market Study

FMI projects the global aesthetic medical devices market to expand at a 9.6% value CAGR by 2032
The global aesthetic medical devices market is expected to garner a market value of US$ 35,000 Million
North America is expected to grow at a CAGR of 9.5% during the assessment period 2022-2032.
As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 8.7% during the assessment period 2022-2032
Europe’s Aesthetic Medical Devices Market is expected to be at a CAGR of 9% during the forecast period 2022-2032.
The hospitals and clinics segment is expected to hold the largest market share for aesthetic medical devices in the forecast period 2022-2032.

“During the projection period, the United States market is anticipated to lead the market in North America. This is owing to the excellent healthcare system, technological developments, and strong government financial backing. Furthermore, the growing senior population, peer pressure to seem younger, and the expanding obese or overweight population are fuelling the country’s market growth,” says an analyst at FMI

Aesthetic Medical Devices Market Competition
Key players in the aesthetic medical devices market are Alma Lasers, Merz Pharma, Bausch Health Companies Inc., Lumenis Be Ltd., Venus Concept, Candela Corporation, Cutera Inc., Fotona and Asclepion Laser Technologies GmbH.

Aesthetic Medical Devices Market Recent Developments

In December 2021CUTERA, INC. will debut the next generation of truSculpt flex, a quick treatment mode based on Cutera’s unique Multi-Directional Stimulation. It achieves the same toning, firming, and strengthening effects in a fraction of the time.

Alma Lasers will debut the new Alma PrimeX platform during a worldwide LIVE launch event in April 2021. Alma PrimeX, the category’s top performer, produced unrivalled results in circumference reduction and skin tightening in the belly, waist, thighs, and buttocks.
Candela announced the launch of the Frax Pro system in January 2021. The FDA-approved, non-ablative fractional device is the first to offer dual-depth skin resurfacing with the Frax 1550 and Frax 1940 applicators. The two modalities work on distinct levels of the skin, promoting new collagen formation and displaying smoother, brighter skin.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global aesthetic medical devices market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022 to 2032.

The study reveals essential insights based on By Technology {Laser-Based, Electromagnetic Energy-Based, Ultrasound-Based, Cryolipolysis, Suction-Based, and Plasma Energy-Based), Application (Facial Skin Resurfacing, Photorejuvenation, Hair Removal, Fat Reduction and Body Contouring, Skin Tightening, Cellulite Reduction, Feminine Rejuvenation, Tattoos and Pigmentation, Acne and Acne Scars, Vascular Lesions, and Others), and End User (Dermatology and Cosmetic Clinics, Hospitals and Clinics, Medical Spas, and Home Use) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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Key Segments

Aesthetic Medical Devices Market by Technology:

Laser-Based
- Alexandrite
- Diode
- ND: YAG
- CO2
- ER: YAG
- PDL
- Others
Light-Based
- IPL
- LED
Electromagnetic Energy-Based
- Infrared-Based
- Radiofrequency-Based
- Non-Laser
- Others
Ultrasound-Based
Cryolipolysis
Suction-Based
Plasma Energy-Based

by Application:

Facial Skin Resurfacing
Photorejuvenation
Hair Removal
Fat Reduction and Body Contouring
Skin Tightening
Cellulite Reduction
Feminine Rejuvenation
Tattoos and Pigmentation
Acne and Acne Scars
Vascular Lesions
Others

by End User:

Dermatology and Cosmetic Clinics
Hospitals and Clinics
Medical Spas
Home Use

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Intradermal Injection Market is expected to reach US$ 10,814.47 Million by 2032, Increasing at a 10.8% CAGR | FMI Report

The Intradermal Injection Market is poised for significant growth, with a projected valuation of over US$3.8 billion by 2032. This translates to a Compound Annual Growth Rate (CAGR) of a healthy 10.8% from 2022. This surge is being fueled by exciting advancements in medical technology.

Along with this, the results of several meta-analyses prove that intradermal delivery of drugs reduces the intensity of adverse events. The factors mentioned above indicate the favorable conditions for the rapid growth of this segment in the future. The rising prevalence rate of tuberculosis is expected to promote the growth rate of the intradermal injection market. As per the data of WHO, tuberculosis is the 13^th leading cause of death, and about 10 million cases of TB have been recorded every year, which resulted in a sudden rise in the diagnostic rate of TB during the last decade.

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This is one of the major factors that act as one of the leading reasons for increasing the intradermal injection market size of tuberculin syringes. According to the American Cancer Society’s 2022 report, over 1.9 million new cancers are expected to be recorded in the United States in 2022. Also, as per the same source, the risk of having cancer rises dramatically as one gets older, and in the United States, 80% of cancer patients are 55 or older, with 57% being 65 or older. These figures show that the growing geriatric population is expected to have a significant positive impact on the growth of the market.

Key Takeaways from Intradermal Injection Market Study

The global Intradermal Injection market is expected to garner a market value of US$ 10,814.47 Million.
The market is projected to exhibit a compound annual growth rate (CAGR) of 10.8% from 2022 to 2032.
The European intradermal Injection market size is anticipated to register commendable growth, with the United Kingdom acquiring a major share.
North America was the leading regional segment in terms of revenue and market share.
Based on the method, normal-sized needles dominate the market.
By application, the tuberculin skin test segment is estimated to hold the largest share.

“The growing burden of chronic diseases has led to a rise in the overall use of syringes, particularly disposable syringes, intradermal jet injectors, microinjections, and ballistic intradermal injections treatment and diagnostic purposes,” says an analyst at Future Market Insights.

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Key Intradermal Injection Market Players

Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the Intradermal Injection market are Becton Dickinson, Cardinal Health, West Pharmaceuticals services, Terumo Corporation, Nanopass, Pharmajet, Idevax, Enusung, Crossject, and Hindustan Syringes and Medical Devices.

In May 2022, Stevanato Group S.p.A. signed an exclusive agreement with leading medical device developer and manufacturer Owen Mumford Ltd. for its Aidaptus auto-injector. Adeptus is a 2-step, single-use auto-injector with a versatile design that accommodates both 1 mL and 2.25 mL prefilled glass syringes in the same base device.
In May 2020, Takeda Pharmaceutical Company Limited received approval from the European Commission for the subcutaneous (SC) formulation of Entyvio (vedolizumab), a gut-selective biologic for use as maintenance therapy in adults with moderately to severely active ulcerative colitis (UC) or Crohn’s disease (CD). Entyvio SC is available in both a pre-filled syringe and a pre-filled pen.
Terumo Corporation is a pioneer in hypodermic needle innovation. The company offers a comprehensive platform of precision-engineered needle and needle stick prevention technologies ready for the most challenging applications and high-throughput processing environments. The company helps design and deliver safer, less painful injections to ensure the therapeutic success of the drug product. Some of its products include the Nanopass^®34G Needle for Pen Injectors, the Neolus Needles, SurGuard® Safety Hypodermic Needles, the SurGuard® 3 Safety Hypodermic Needles, and the Terumo 3-Part Syringe.
In May 2021, Crossject announced further strengthening of its partnership with long-term collaborator Cenexi to ramp up industrial-scale manufacturing of the ZENEO® needle-free auto-injection. With this announcement, Cenexi strengthened its positioning on innovation and sterile manufacturing expertise thanks to its human-scale agility and its recognized skills in pharmaceutical development.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global Intradermal Injection market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Method (normal-sized needles, Short Needle (Intradermal Microinjection, Microneedle Arrays, and Tattoo Devices], and Without Needle {Intradermal Liquid Jet Devices and Ballistic Intradermal Injectors]), Application (Tuberculin Skin Test, Allergy Test, Local Aesthetics, and Others), and End User (Hospitals, Diagnostic Laboratories, Academics and Research Institutes, and Others) & Region.

About the Technology at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

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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Global Composite IBCs System Market Poised for Growth, Reaching US$ 12.65 Billion by 2033 | FMI

The composite IBCs system market is projected to grow from US$ 7,990.7 million in 2023 to US$ 12,648.47 million by 2033, recording a significant compound annual growth rate (CAGR) of 4.7% during the forecast period. This growth is driven by the increasing demand for reliable and cost-effective cross-border transportation solutions.

Core Concepts in the Composite IBCs System Industry

Growth Rate through 2033: The composite IBCs system market is expected to grow at a 4.7% CAGR from 2023 to 2033.
Market Size by 2033: The market is projected to increase from US$ 7,990.7 million in 2023 to US$ 12,648.47 million by 2033.
Countries with Significant Demand: The United States, Germany, China, and Japan demonstrate notable demand for composite IBCs systems due to their robust industrial sectors.
Strategies of Market Leaders: Market leaders maintain their competitive edge through continuous innovation, strategic partnerships, and global market expansion.
Factors Influencing Adoption: Consumer adoption in the composite IBCs system market is influenced by factors such as product durability, cost-effectiveness, and sustainability.

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Key Market Drivers:

Efficient Cross-Border Transportation: The need for dependable modes of cross-border transportation has bolstered the demand for composite IBCs. These containers offer benefits such as reduced transportation costs and enhanced safety during shipping compared to traditional alternatives.
Safety and Efficiency: Composite IBCs are preferred for their lightweight, space-saving design that ensures secure transportation without spillage. They are particularly valued in industries handling flammable and volatile materials due to their non-corrosive and flame-retardant properties.
Global Trade Expansion: The surge in global cross-trade activities has further fueled the adoption of composite IBCs. These containers are widely used by automotive technicians and manufacturers to store large volumes of fuels, paints, oils, and other chemicals, supporting seamless logistics operations.
Technological Advancements: Innovations in materials and manufacturing processes, including the use of bio-based raw materials, are enhancing the sustainability and versatility of composite IBCs. This trend is expected to open new growth avenues in the market.

Competitive Landscape and Market Share Analysis::

The analysis of the study was carried out worldwide and presents the current and traditional growth analysis, competition analysis, and growth prospects of the central regions. With industry-standard analytical accuracy and high data integrity, the report offers an excellent attempt to highlight the key opportunities available in the market to help players establish strong market positions. Buyers of the report can access verified and reliable market forecasts, including those regarding the overall size of the market in terms of sales and volume.

Grief Inc., Snyder Industries, Inc., Hoover Ferguson Group Inc., Mauser Group B.V., Composite Containers LLC, Pacific Container Systems

The report on the Composite IBCs System Market covers the following region (country) analysis:

This report additionally states import/export consumption, supply and demand figures, cost, price, revenue, and gross margins. The Composite IBCs System Market 2022 research provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure.

North America (United States, Canada, Mexico)
Europe (Germany, UK, France, Italy, Spain, Others)
Asia-Pacific (China, Japan, India, South Korea, Southeast Asia, Others)
The Middle East and Africa (Saudi Arabia, UAE, South Africa, Others)
South America (Brazil, Others)

Key Reasons to Purchase Composite IBCs System Market Report:

The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges, and strategic inputs to overcome the market threats.
An in-depth market analysis and an overview of the Composite IBCs System Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Readers can acquire a better interpretation of the Composite IBCs System Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies of the leading market players in the market
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.

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Key Questions Answered:

✦ What is the market size and CAGR of the Composite IBCs System Market during the forecast period?
✦ How is the growing demand impacting the growth of market shares?
✦ What is the growing demand of the market during the forecast period?
✦ Who are the leading vendors in the market and what are their market shares?

Market Segmentation

By Material Type:

Plastics
Aluminum
Carbon Steel
Galvanized Iron

By End Use:

Industrial Chemicals
Paints
Inks & Dyes
Food & Beverage
Building & Construction
Pharmaceuticals

By Technology:

Aseptic Technology
Non-Aseptic Technology

By Capacity:

180 to 250 gallons
250 to 300 gallons
300 to 350 gallons
Above 350 gallons

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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Intravenous Iron Drugs Market is expected to reach US$ 6.3 Billion by 2032, At a compound annual growth rate of 8.5% | FMI

The Intravenous Iron Drugs Market is projected to surge in the coming years, according to a recent market survey by FMI. The market, valued at US$2.6 billion in 2021, is expected to reach a staggering US$6.3 billion by 2032, reflecting a significant increase. This growth is largely driven by the rising demand for ferric carboxymaltose, a specific type of intravenous iron drug. Ferric carboxymaltose is expected to be a major revenue generator in this expanding market.

The American Heart Association predicts that by 2035, more than 130 million adults in the United States will have cardiovascular disease. In addition, the Centers for Disease Control and Prevention reports that 0.6 million Americans die each year from heart disease. This information leads directly to the number of hospital admissions.

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The Ferric Carboxymaltose (FCM) segment led the market for intravenous iron medicines in 2021, with nearly 50% revenue share due to its expanding use, improved performance, and lower cost. It is a parenteral iron medication devoid of dextran which is suggested for the quick and high-dose replacement of depleted iron reserves. This medicine is a stable compound with the benefit of not containing any extraneous ingredients and having a very low immunogenic potential; hence, it poses a very low risk of anaphylactic responses. FCM has a higher effectiveness in terms of boosting hemoglobin levels and has fewer side effects. The tremendous rise may also be attributed to the FDA approval of injectables in North America as well as its approval outside of North America.

The region’s expanding senior population is a primary driver of industry development. According to US Census Bureau forecasts, the number of Americans aged 65 and older will rise from 52 million in 2018 to roughly 95 million by 2060. Furthermore, the overall percentage of people aged 65 and older is projected to increase from 16% to 23%.

It may be linked to the presence of a higher incidence of cancer, intestinal illnesses, and renal disease in the specific area. These conditions also reinforce its dominance. It has also contributed to the growth of women’s health awareness and awareness about celiac disease.

Intravenous Iron Drugs Market Competitive Landscape

Some of the key players in the global Intravenous Iron Drugs market include Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; Shield Therapeutics Plc; AbbVie Inc., Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; and Shield Therapeutics Plc among others.

Some of the recent developments in the Intravenous Iron Drugs Market are:

In April 2018, AMAG Pharmaceuticals got FDA clearance for a supplementary new drug application for ferumoxytol injection to cover all eligible people with iron-deficiency anemia (IDA) who cannot tolerate or do not respond to oral iron.
In May 2019, Rockwell Medical, Inc. filed a New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for the Intravenous (I.V.) version of Triferic.
In September 2020, Daiichi Sankyo announced the formation of its wholly-owned subsidiary Daiichi Sankyo Vietnam Company Limited. This program was launched to strengthen the company’s Asian business platform.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Intravenous Iron Drugs Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Product Type (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, Other Product Types), by Indication (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Other Applications), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Intrathecal Pumps Market is anticipated to grow steadily at a 5.2% CAGR and reach USD383.5 Million by 2032 | FMI

The Intrathecal Pumps Market, which delivers medication directly to the spinal cord for chronic pain management, is poised for steady growth. In 2022, the market was valued at around US$231.5 million, and forecasts predict a Compound Annual Growth Rate (CAGR) of 5.2% over the next decade. This translates to a projected market value of approximately US$383.5 million by the end of 2032.

Moreover, the prevalence of chronic pain is increasing globally, which is a major driver of the intrathecal pump market. According to data published by Boston University’s School of Public Health, there are an estimated 1.5 billion cases of chronic pain worldwide, with the incidence of this condition increasing with age. Furthermore, statistics provided by the Centers for Disease Control and Prevention reveal that approximately 50 million Americans suffer from chronic pain, with 20 million experiencing high-impact chronic pain. These numbers are steadily rising, thereby contributing to the growth of the intrathecal pumps market.

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The United States will hold the largest share of the market throughout the Analysis Period

From 2022 to 2032, the Intrathecal Pumps Market is estimated to develop at a CAGR of 5.2% in the United States. The CAGR for the growth of the intrathecal pump market from 2017 to 2021 was 3.5%. According to research by the American Cancer Society, in 2021, over 24 thousand people in the United States experienced a malignant tumor of the brain or spinal cord.

There are now significantly more cancer patients, according to a report recently published by the WHO’s International Agency for Research on Cancer. There are around 14.1 Million cancer patients, according to estimates. Additionally, it was determined that 8.2 Million individuals will lose their lives to cancer each year. The market for intrathecal pumps is expected to rise in the future due to the increase in cancer cases.

Intrathecal Pumps Market: Competition Insights

Some of the key companies operating in the Intrathecal Pumps Market include Medtronic, Smiths Medical, Flowonix Medical Inc., tricumed Medizintechnik GmbH, Teleflex Incorporated, Johnson and Johnson Services, Inc., Durect Corporation, Medallion Therapeutics, Inc., Abbott, Baxter International Inc., Codman & Shurtleff, Inc., DePay Synthes, Summit Medical Group, B Braun Melsungen AG, Becton, Dickinson & Company and Fresenius Medical Care AG & Co. KGaA., and Zimmer Biomet.

Some of the recent developments by key providers of the Intrathecal Pumps Market are as follows:

In January 2021, a US$ 33 Million award was given to Flowonix Medical, a U.S.-based medical device business that specializes in implanted medication delivery systems. A US$ 10 Million debt facility was given as part of the deal by SWK Holdings (SWKH), a specialized finance firm that works with small- and mid-sized commercial-stage life-science enterprises.
In October 2020, to reinforce safety advice regarding proper cleaning procedures for the pumps, Baxter International Inc. issued an urgent device correction for all of its spectrum infusion pumps. The failure to follow the prescribed cleaning procedures reduced the efficiency and effectiveness of the pumps.
In February 2020, a 40 ml pump for intrathecal drug delivery was introduced by Flowonix Medical. It uses a pressure-driven, valve-gated delivery mechanism and has a battery life of more than 10 years, reducing the need for additional surgical procedures.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the intrathecal pumps market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by Type (Baclofen, Bupivacaine, Clonidine, Morphine, Ziconotide, and Other Types), By Application (Spasticity and Pain), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Key Segments Covered in Intrathecal Pumps Market Survey

By Type:

Baclofen
Bupivacaine
Clonidine
Morphine
Ziconotide
Other Types

By Application:

Spasticity
Pain

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Global Molded Pulp Packaging Machines Market to Reach US$ 833.4 Million by 2033, Fueled by Sustainability Trends

Molded Pulp Packaging Machines Market

The global molded pulp packaging machines market is poised to achieve a valuation of US$ 590.8 million in 2023 and is projected to grow at a steady CAGR of 3.5% to reach US$ 833.4 million by 2033. According to Future Market Insights (FMI), the trays segment is expected to dominate the market, driven by high demand for packaging fragile products. This segment alone is anticipated to create an incremental opportunity of nearly US$ 126 million from 2023 to 2033.

Core Concepts in the Molded Pulp Packaging Machines Industry

Growth Rate until 2033: The market is projected to expand at a 3.5% compound annual growth rate (CAGR) through 2033.
Market Size in 2023: The market is estimated to be valued at US$ 590.8 million in 2023.
Historical Growth: In 2022, the market was valued at US$ 570.8 million.
Substantial Market Share Region: North America is expected to hold a significant market share of 19.7% from 2023 to 2033.
Most Popular Application: The food & beverage industries are the most popular among users, contributing to 40.6% of the market share.

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Key Growth Drivers

Rising Demand for Sustainable Packaging: There is a growing preference for green packaging solutions as alternatives to single-use plastics. Molded pulp, derived from recycled paperboard or newspaper, aligns with sustainability goals, reducing environmental impact and meeting regulatory standards.
Expansion in Food & Beverage Industry: The food and beverage sector, in particular, is witnessing robust demand for molded pulp packaging due to its ability to preserve product freshness and meet hygiene standards. This sector’s reliance on sustainable packaging solutions is propelling market growth.

Market Trends

Increased Production Capacity: Manufacturers are scaling up production of molded pulp packaging machines to meet the escalating demand driven by sustainability trends. This expansion is expected to create substantial growth opportunities throughout the forecast period.
Technological Advancements: Ongoing advancements in molded pulp production technologies are enhancing the efficiency and versatility of packaging solutions. Innovations in machine capabilities are catering to diverse application needs across various end-use industries.

Growth Factors

Molded pulp packaging has gained widespread acceptance owing to its myriad advantages, including exceptional vibration dampening and cushioning properties, versatility in application, and more. Products crafted from molded pulp, such as trays, clamshells, bowls, cups, among others, represent a cost-effective packaging solution.

Notably, molded pulp packaging not only boasts a low disposal cost but also offers a straightforward and efficient packaging process. Furthermore, an escalating preference for eco-friendly packaging practices, in line with the growing environmental concerns, has driven a surge in demand for molded pulp packaging. As a result, manufacturers are scaling up the production of molded pulp packaging machines, witnessing a noticeable boost in sales.

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Market Players:

Huhtamaki Oyj
TRIDAS
Eurasia United Equipment Group Co., Ltd (EAMC)
Brødrene Hartmann A/S
Beston Group Co. Ltd.
inmaco
PulPac
BeSure Technology Co., Ltd.
HGHY PULP MOLDING PACK CO., LTD
Southern Pulp Machinery (Pty) Ltd
ZH MOULDED PULP CO., LTD.
Taiwan Pulp Molding Co., Ltd
Parason

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Segments Covered:

By Machine Type:

Automatic
Semi-automatic
Manual

By Application:

Trays
Cups
Clamshells
Boxes
Plates
Carriers

By End-use Industry:

Food & Beverage
Healthcare
Electrical & Electronics
Automotive
Personal Care & Cosmetics
Consumer Durables

By Region:

North America
Latin America
Europe
South Asia
East Asia
The Middle East & Africa
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 Kraft Packaging Market Set to Reach US$ 65.2 Billion by 2033, Driven by Sustainable Packaging Trends

The global kraft packaging market is projected to achieve a valuation of US$ 38.9 billion in 2023, with Future Market Insights (FMI) forecasting a robust compound annual growth rate (CAGR) of 5.4% through 2033, culminating in a market size of US$ 65.2 billion.

Core Concepts in the Kraft Packaging Industry

Market Size by 2033: The kraft packaging market is estimated to reach US$ 65.2 billion by 2033.
Dominant Region: North America currently dominates the global kraft packaging market.
Growth Opportunity: E-commerce growth is a significant driver for kraft packaging due to its durability and suitability for shipping goods.
Top Trend: Advancements in manufacturing techniques, including eco-friendly practices and innovative designs, are key trends in the kraft packaging market.
Sales Driver: Sustainable practices and increasing consumer demand for environmentally friendly packaging solutions are driving growth in the kraft packaging market.

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Market Dynamics

Kraft paper, renowned for its durability and sustainability, serves as a versatile packaging material suitable for various shapes and sizes. It is widely adopted in industries such as food and beverages, electronics, pharmaceuticals, and construction due to its biodegradable nature and ease of use. The rising demand for lightweight, reusable, environmentally friendly, and cost-effective packaging solutions is expected to propel market growth significantly.

Key Growth Drivers

E-commerce Expansion: The surge in online retailing is driving demand for efficient and eco-friendly packaging solutions. Kraft packaging, being lighter and more sustainable than traditional plastic, reduces shipping costs and aligns with environmental regulations, making it a preferred choice for e-commerce businesses.
Food Packaging Applications: With increasing consumer preference for ready-to-eat meals and fast-food consumption, the demand for safe and chemical-free packaging options like kraft paper is escalating. Kraft packaging preserves food quality, ensuring no alteration in taste or contamination from harmful chemicals.
Customization and Innovation: Manufacturers are focusing on offering customized kraft packaging solutions to cater to specific industry needs and consumer preferences. This trend enhances product appeal and supports brand differentiation in competitive markets.

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Market Drivers

Sustainability and Eco-Friendly Packaging: Increasing global awareness of environmental issues and the shift toward eco-friendly packaging solutions are significant drivers for the Kraft Packaging market. Kraft paper is a biodegradable and recyclable material, aligning with the growing demand for sustainable packaging options.
Government Regulations: Stringent government regulations and initiatives promoting sustainable and recyclable packaging materials encourage the adoption of Kraft Packaging solutions. These regulations aim to reduce plastic waste and environmental impact.
Consumer Preference: Consumers are increasingly favoring eco-friendly and sustainable packaging. The demand for products with minimal environmental impact is driving brands to choose Kraft Packaging, catering to consumer preferences.
Cost-Effective Packaging: Kraft Packaging is cost-effective compared to some alternative materials. This cost-efficiency attracts businesses looking to reduce packaging expenses while maintaining quality and sustainability.
Brand Image and Marketing: Kraft Packaging can enhance a brand’s image and contribute to a rustic, environmentally conscious, and authentic image. This can be used as a marketing tool to connect with environmentally conscious consumers.
Versatility: Kraft Packaging’s adaptability and versatility make it suitable for various industries, from food and beverages to retail, which drives its adoption in diverse sectors.
Customization and Branding: The ability to print, customize, and brand Kraft Packaging is a significant driver. This feature allows companies to create unique and attractive packaging that aligns with their branding and marketing strategies.
Growth of E-Commerce: The expansion of e-commerce has increased the demand for efficient and sustainable packaging. Kraft Packaging is a favored choice for e-commerce companies looking to balance cost, sustainability, and protection during shipping.

Key Players

Amcor plc
DS Smith
Packaging Boxes Pro
Sappi Limited
International Paper Inc.
Fshiny Packaging Manufacturer
Canadian Kraft Paper Ltd.
Foshan DXC Packaging Co., Ltd.
WestRock Company
Stora Enso Oyj
Smurfit Kappa Group plc
Nippon Paper Group
Mondi Group Plc.
Ahlstrom-Munksjö Oyj
BillerudKorsnäs AB

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Key Segments

By Product Type

Bleached Kraft Paper
Unbleached Kraft Paper

By Packaging Type

Boxes
Bags
Pouches
Cartons
Clamshell
Wraps
Sacks
Others

By End Use

Foods & Beverages
Pharmaceuticals
Building and Construction
Cosmetics & Personal Care
Electrical & Electronics
E-Commerce
Automotive
Textile
Agriculture

By Region

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