EV Coolant Market expected to expand USD 3,704.9 Million by 2033 with 28.7% CAGR

MRB-Automotive-EV Coolants Market
MRB-Automotive-EV Coolants Market

The global EV Coolants Market size is figured out to be around USD 297.2 Million in 2023 and is expected to grow at a rate of 28.7% in the coming decade. A report on the EV coolants market predicts the overall valuation to reach up to USD 3,704.9 Million by the year 2033.

The EV sector had substantial growth in the preceding years, which is regarded to have raised the sales of EV coolants in recent times. Since pollution has become a major concern for the urban centers, FMI predicts an upsurge in EV sales further strengthening the market. Furthermore, throughout the medium-term market predictions, tax incentives and phasing out of IC cars would drive the global EV coolants market further.

Compared to any conventional fuel car, a battery electric vehicle or hybrid electric vehicle, for instance, require 2 to 3 times less coolant. An EV uses approximately 10-20 liters of coolants throughout its lifespan even though the demand for EV coolants for drivelines is comparable. However, water-glycol EV coolants are used in the majority of EVs currently on the road and give good enough functionality making it the better-performing segment than others.

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Key Takeaways from the EV Coolants Market Study Report

  • Germany is the leading producer of coolants for EVs in the world and captured a market share of 11.2% in the year 2022.
  • The United States follows Germany in the production and consumption of EV coolants and is figured out to have contributed 9.3% of the overall market.
  • In Europe, the United Kingdom is witnessing an upsurge in demand for EV coolants over the years. FMI predicts the annual growth rate for this country at 20.5% during the forecast period.
  • In Asia Pacific, China is the leading producer of EV coolants and is also developing at a robust growth rate of 21.9% through 2033.
  • Meanwhile, India is projected to show a higher growth trend in demand for EV Coolants. As per the analysis report, this regional market is anticipated to register a CAGR of 29.6% over the forecast years.
  • Based on the coolant type, glycol-based coolants are the dominating product in the market. As per the market report, it captures a market share of 73.2% of the total market size.

Competitive Landscape for the EV Coolants Market

BASF SE, Dober Chemical Corporation, Shell plc, TotalEnergies SE, Valeo SA, Chevron Corp., Exxon Mobil Corp., Lukoil Petronas, Ashland Corporation, Sinclair Oil Corporation, Blue Star Lubrication Technology are some of the major players in the global EV coolants market.

Due to the entry of the automotive coolants market players in this sector, the global EV coolants market can be considered fairly fragmented. The development of region-specific coolant products has been a major strategy for most EV coolant companies to penetrate the market. For instance, the Shell Group introduced a new coolant for an electric motor in August 2022 that is appropriate for the EV coolant requirements on Indian roads.

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Key Segments

By Vehicle Type:

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)

By Category:

  • Coolants for Electric Passenger Cars
  • Coolants for Electric Commercial Vehicles
  • Coolants for Electric Two Wheelers
  • Others

By Coolant Type:

  • Ethylene Glycol
  • Polypropylene Glycol
  • Others

By Region:

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

Recent Developments in the EV Coolants Industry

  • In November 2022, Glysantin, which is a subsidiary of BASF SE, introduced a newly created EV battery coolant first into the Chinese car marketplace. This EV coolant was created particularly for indirect cooling systems and offers increased dependability and stability. This ready-to-use coolant, sold under the trade name ® G22 E+TM, has a low conductivity and generates low and steady currents being exposed to a current source.
  • Valvoline Cummins Company unveiled Valvoline Advanced Coolant in August 2022, which is a glycol-based full-antifreeze coolant with OAT Technology. The use of this new technology extends the useful life of EV coolants and is expected to strengthen the market position of the enterprise.

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Global Dietary Supplement Market Set to Reach USD 170.1 Billion by 2034 with a Steady CAGR of 9.5% | FMI Study

Dietary Supplement Market
Dietary Supplement Market

The global dietary supplement market value is poised for significant growth, with projections indicating it will attain a valuation of approximately USD 170.1 billion by 2034. This represents a steady compound annual growth rate (CAGR) of 9.5% from 2024 to 2034. The market is expected to reach USD 74.3 billion by the end of 2024, driven by several key trends and factors that are shaping the industry.

Key Trends in the Dietary Supplement Market

The increasing demand for probiotics and prebiotics aimed at enhancing digestive health is one of the leading trends in the market. Government agencies worldwide are focusing on revising food laws, which is likely to impact product claims and labels, influencing consumer choices. Additionally, the growing demand for sports nutrition supplements, particularly among bodybuilders and athletes, is driving market growth as these products help improve endurance and strength.

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Market Dynamics and Growth Factors

  • Probiotics and Prebiotics: The rising awareness of gut health and the benefits of probiotics and prebiotics is driving demand. Consumers are increasingly seeking products that support digestive health and overall well-being.
  • Sports Nutrition Supplements: With a surge in the number of health-conscious individuals and athletes, there is a growing demand for supplements that enhance physical performance. Sports nutrition supplements are gaining traction for their ability to support muscle growth, endurance, and recovery.
  • Government and Private Sector Initiatives: Various government NGOs and private organizations are creating awareness about the nutritional benefits of vitamins and minerals, further boosting market demand. These initiatives are particularly focused on reducing nutrient deficiencies among different population segments.
  • Natural Health Supplements: There is an increasing preference for natural health supplements among consumers, especially sports enthusiasts. These supplements are sought after for their ability to reduce wear and tear, enhance muscular strength, and restore energy levels.

Herbal Supplement Market Insights

The use of dietary supplements among young athletes to decrease body fat, enhance muscle tone, and manage weight is projected to accelerate market growth. Multivitamin and mineral supplements are gaining traction due to the need for essential nutrients among athletes engaged in rigorous exercise. The consumption of multivitamin supplements helps safeguard health and fill nutritional gaps caused by dietary preferences, food allergies, or restrictive diets.

Innovations and Technological Advancements

The dietary supplement market is also benefiting from innovations in microencapsulation and nanoencapsulation technologies. These advancements allow manufacturers to add specialty ingredients to their products, catering to the rising demand for scientifically proven supplements. Microencapsulation technology ensures a proper supply of vitamins and minerals in one’s diet, making it possible to fortify staple food items in developing countries where affordability is a concern.

Country-wise Insights

  • The US dietary supplement market is expected to witness a CAGR of 6.7% through 2034. Factors such as the prioritization of holistic wellness, increasing consumer interest in supplements for overall well-being, and stringent safety standards by the FDA are driving growth.
  • China is projected to showcase a CAGR of 7.8% during the evaluation period, driven by government regulations, growing consumer awareness, and the rising geriatric population.
  • The dietary supplement market in Australia is anticipated to expand at a steady CAGR of 8.4% from 2024 to 2034, fueled by the high influx of tourists, a wellness-focused culture, and the availability of herbal supplements.

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Competitive Landscape

Key players in the dietary supplement market are BASF SE, Abbott Laboratories, Bayer AG, Glanbia Plc, Royal DSM N.V., Now Health Group, Inc., Herbalife International, Amway Corp., ADM, Arkopharma, GlaxoSmithKline plc, and Ayanda.

Leading manufacturers are focused on developing high-quality dietary supplements, coupled with offering gluten-free products with high nutritional value. The increasing demand for value-added products in several countries is expected to create new opportunities.

Recent Dietary Supplement Market Developments

  • In January 2024, BioAdaptives Inc., a prominent manufacturer and supplier of innovative, all-natural dietary supplements, announced the launch of a specialized research and development Food Lab. It is dedicated to the development of natural powder products and treats for animal and human consumption.
  • In January 2024, Smart Protein, which is part of The Original Fit Factory’s wellness chain of products and services, announced the launch of an all-new, high-quality active wellness supplement across 142 Tesco stores in the United Kingdom.

Dietary Supplement Market Outlook by Category

By Form:

  • Soft Gel (Capsule)
  • Gummies
  • Powders
  • Liquid
  • Bars
  • Others

By Ingredients:

  • Vitamin
  • Minerals
  • Botanical Supplements
  • Amino Acid
  • Others

By Application:

  • Weight Management
  • Immune & Digestive Health
  • General Health
  • Heart Health
  • Sports Nutrition
  • Brain/Mental Health
  • Bone & Joint Health
  • Others

By End-user:

  • Children
  • Women
  • Men

By Sales Channel:

  • Store-based Retailing
    • Hypermarkets/Supermarkets
    • Conventional Stores
    • Drug Stores & Pharmacies
    • Other Retailers
  • Online Retailing

By Region:

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

Adjacent Markets and Opportunities

The dietary supplement market is closely linked with other sectors such as the probiotic supplement market and the digestive health supplement market. The probiotic supplement market is expected to grow at a CAGR of 13.0%, driven by the focus on gut health among millennials. The digestive health supplement market is projected to expand at a CAGR of 6% from 2024 to 2034, influenced by changing dietary patterns and the increasing prevalence of digestive issues.

As the global dietary supplement market continues to grow, it presents numerous opportunities for investors and businesses. The rising demand for innovative and high-quality supplements, coupled with advancements in technology and increasing consumer awareness, is set to drive market expansion.

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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Plant-Based Meatballs Market Set to Grow at 18.3% CAGR, Reaching USD 391.2 Million by 2033

In 2023, the global market for plant-based meatballs was valued at USD 138.2 million. It is anticipated to grow significantly at a robust CAGR of 18.3% from 2023 to 2033, projecting to achieve USD 391.2 million by 2033.

Public awareness of plant-based non-vegetarian alternatives is growing quickly, and more consumers demand these products due to the medical advantages, such as the prevention of non-communicable diseases, digestive problems, and obesity.

People worldwide are preferring plant-based alternatives to animal flesh due to the detrimental effects on the environment and ethical shortcomings in the production of meat, which is supporting market growth.

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Manufacturers of plant-based meatballs are attempting to gain a leading market share with their diversified products range, while also being conscious of the negative environmental effects of animal agriculture. Moreover, customers benefit from the availability of reasonably priced plant-based meat replacements. The growing popularity of veganism increases sales as more people become aware of its health benefits.

Key Takeaways

  • By 2033, the United States is expected to show high potential in the plant-based meatballs market, with a size of US$ 391.2 million and a CAGR of 18.3%.
  • The plant-based meatballs market was significantly expanding, with a size of US$ 120 million in 2022.
  • Market shows amazing opportunities due to great medical benefits, and expects an absolute growth of US$ 253 million during the forecast period.
  • The expansion in China is anticipated to expand at an adequate CAGR of 18.4% by 2033.
  • By 2033, Germany is likely to expand in the plant-based meatballs market, with a size of US$ 31.3 million.
  • By 2033, the plant-based meatballs sector is likely to increase in Spain, with a size of US$ 13.3 million.
  • The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 16.5% by 2033.
  • Based on the product type, the plant-based chicken expects a CAGR of 16.3% by 2033.
  • Based on source, the soy protein segment continues to dominate the sector during the forecast period, with a CAGR of 17.2%.
  • Based on the distribution channel, the HoReCa continues to dominate the sector during the forecast period.

Key Strategies in the Industry

The market is expanding, and producers are seizing this chance. To enhance their market share and leave their mark, they have established lofty targets. There are several alternatives available to manufacturers when it comes to designing a competitive product.

Making the product taste as much like a typical meatball as possible is a top priority for producers. Finally, when developing their product, producers focus on consumer health. For plant-based meatballs to succeed, they must be nutritionally equivalent to traditional meatballs. This calls for the use of wholesome and nutrient-dense ingredients by manufacturers.

Recent Developments

  • In order to increase its manufacturing capacity in Europe, Beyond Meat announced the purchase of a new manufacturing facility in Enschede, the Netherlands, in June 2020. KFC and Beyond Meat have partnered to distribute KFC’s plant-based fried chicken in the UK.
  • The new INCOGMEATO™ Plant-Based Ground Package from Kellogg’s is made with 100% plant protein from plant-based ground and contains 48% less saturated fat.
  • Burger King and Impossible Foods have teamed up to introduce the Impossible Whopper in the US.
  • A new line of vegan and gluten-free protein nuggets has been introduced by NUGGS.

Key Market Players

  • Beyond Meat
  • Kellogg’s
  • Sysco Foodie
  • GCL Food Ingredients
  • Ikea
  • Mycorena AB
  • Subway
  • Zhenmeat
  • Schouten Food
  • Hydrosol
  • Gardein

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Key segments

By Product Type:

  • Plant Based Chicken
  • Plant Based Beef
  • Plant Based Pork

By Source:

  • Soy-Based Protein
  • Wheat-Based Protein
  • Pea-Based Protein
  • Canola-Based Protein
  • Fava-Bean Based Protein
  • Potato-Based Protein
  • Rice-Based Protein
  • Lentil-Based Protein
  • Flax-Based Protein
  • Chia-Based Protein
  • Corn-Based Protein

By Distribution Channel:

  • Retail
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Food Stores
  • Online Retail
  • HoReCA (Food Service Sector)

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Middle East and Africa
  • Japan

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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Diagnostic Tools For EVs Market Valued at USD 5,401.6 Million in 2033 with 12.8% Growth Forecast

MRB-Automation-Diagnostic Tools for EVs Market
MRB-Automation-Diagnostic Tools for EVs Market

The demand for global Diagnostic Tools for EVs Market is expected to rise at a sturdy growth rate of 12.8% during the forecast years as per a report by FMI. The overall market valuation of total sales of diagnostic tools for EVs in 2022 was USD 1,437 Million which is further projected to reach USD 5,401.6 Million by 2033.

EV sales have seen a significant rise giving impetus to the requirement for other related products and services for its advancement, over the last few years. Furthermore, tremendous progress has been made in the electric vehicle repair and maintenance business creating a huge opportunity for the market.

Key Takeaways

  • As per the market estimate figures, the United States is the leading region in providing diagnostic tools for EVs. In the year 2022, the total revenue generated by the companies of diagnostic tools for EVs operating in the country was nearly USD 184 Million.
  • In Europe, Germany has remained the leading market for electric vehicles and tools and other products and services associated with EVs. Currently, the net worth of the total sales of diagnostic tools for EVs achieved by Germany is estimated to be around 8.9% of the global market.

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  • Interestingly, the United Kingdom has witnessed higher demand for diagnostic tools for EVs than any other country in the European Union in recent years. As per the market statistics, this country is anticipated to witness an overall annual growth rate of 12.4% during the time period between 2023 and 2033.
  • China is projected to lead the manufacturing and sales of diagnostic tools for EVs in the Asia Pacific region. By the virtue of having a high manufacturing base, it is projected to develop its diagnostic tools for the EVs market at a rate of 10.1% over the next ten years.
  • Japan is also a key market for the production and export of diagnostic tools for EVs, its annual growth rate in this sector would remain lower than that of China. In the previous year, the total valuation of this market in Japan was USD 22.5 Million which is further projected to reach USD 76 Million by 2033.
  • Australia is emerging as a key region with demand for diagnostic tools for EVs gaining traction over the recent years. For the present year 2023, the net worth of the total diagnostic tools for EVs sales in the country is estimated to be around USD 13 Million and it would reach up to USD 43.5 Million by 2033.
  • Contrastingly, India is observed to be having a year-on-year growth rate for sales of diagnostic tools for EVs higher than any other country. In comparison to the CAGR of other countries, the demand for diagnostic tools for EVs in India is poised to register a CAGR of 14.2% through the forecast years.
  • In terms of value, the hardware segment of the market generates higher revenue in comparison to software and services. As per the diagnostic tools for EVs market report, this segment contributed 68.3% of the total revenue generated by the market in 2022.

Competitive Landscape for the Diagnostic Tools for EVs Market

Actia Group SA, Autel Intelligent Technology Corp., Ltd., AVL List GmbH, BMW AG, Bosch Automotive Service Solutions Inc., Continental AG, Daimler AG, Delphi Automotive Plc, Denso Corporation, Fluke Corporation are prominent players in the global diagnostic tools for EVs market.

The global diagnostic tool for electric vehicles market looks to be fragmented and competitive, with both regional and global participants advancing at a constant rate.

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Key Segments of Diagnostic Tools for EVs Market

By Offering:

  • Diagnostic Hardware
    • Scanner
    • Code Reader
    • Tester
    • Analyzer
    • Others
  • Diagnostic Software
    • ECU Diagnosis Software
    • Vehicle Tracking Software
    • Vehicle System Testing Software
    • Others
  • Diagnostic Services
    • Vehicle Maintenance and Repair Services
    • Custom, Training, Support, and Integration Services
  • Others

By Tool Type:

  • Professional Diagnostic
  • DIY Diagnostic
  • OEMs Diagnostic
  • Others

By Application:

  • Automatic Crash Notification
  • Vehicle Tracking
  • Vehicle Health Alert & Roadside Assistance
  • Repair & Maintenance
  • Others

By Vehicle Type:

  • Passenger Vehicle
  • Commercial Vehicle
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:      

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Ethoxylates Market Poised for Steady Growth with Increasing Application in Home and Personal Care Sectors

The global ethoxylates industry size is valued at USD 12.1 billion in 2022 and it is anticipated to achieve a market valuation of USD 12.7 billion in 2023. It is expected to reach a market valuation of USD 17.4 billion by the end of the forecast period while exhibiting a CAGR of 3.2%.

Ethoxylates are utilized across a broad range of applications such as lubricants, cosmetics, soaps & detergents, cleaning chemicals, and solvents. Product consumption in the home & personal care sector is increasing constantly owing to attributes such as rapid surface-wetting, excellent detergency, and low-foaming properties.

The financial stability of the middle class has also increased spending ability for high-quality personal care products. Growing consumer demand for cosmetics, in addition to rising disposable income, will increase the adoption of ethoxylates in the coming years.

The market is expected to be driven by the consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning. The product is extensively used as a foaming and wetting agent in detergent and cosmetic product formulations.

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Key Takeaways from the Market Study

  • Europe will account for the highest revenue generator in the Ethoxylates market during the forecast period.
  • Asia Pacific is anticipated to be the fastest-growing region while exhibiting a CAGR of 4.5% by 2033.
  • By product type, Alcohol ethoxylates will dominate the segment while registering the highest CAGR.
  • The Alcohol ethoxylates segment is anticipated to be worth USD 13.1 billion by the end of 2033.
  • By Application type, household, and personal care is expected to dominate the segment during the forecast period.
  • The demand and consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning will drive the ethoxylates market.

“The market’s expansion may be linked to a paradigm shift toward workflows and process automation across a wide range of businesses and industrial verticals. Enterprises all over the world are eager to embrace effective and smooth business processes that can be executed regardless of location, which is propelling this industry ahead.” comments a Future Market Insights analyst.

Competitive Landscape

The global ethoxylates market is consolidated with few large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements, and contracts, developing testing, and introducing more effective ethoxylates solutions.

Some of the major companies included in the global ethoxylates market report are-

  • Dow Chemical Company
  • BASF
  • Royal Dutch Shell PLC
  • Petroliam Nasional Berhad
  • Ecogreen Oleochemicals
  • PT Polychem Indonesia Tbk
  • Stepan Company
  • Clariant
  • Sasol Limited
  • India Glycols Ltd
  • Ineos Group Ltd.
  • Solvay
  • Oxiteno
  • Galaxy Surfactants
  • Nouryon
  • SABIC
  • Evonik
  • Mitsui Chemicals Inc.
  • PCC Exol
  • Arkema Group

Some of the recent key developments among key players are:

  • On 26 May 2022, BASF, which is a Germany-based chemical company announced the BASF hub program in collaboration with AHK Romania. The hub will bring together start-ups and innovators from 11 central and southeast European nations, including Romania. The project’s objective is to serve as a launching pad for new businesses, promoting the best ideas and providing financial assistance.
  • On 12 May 2022, Royal Dutch Shell, a UK-based oil, and gas chemical signed an agreement with Lukoil to sell lubricants and retail businesses in Russia. The deal includes 411 retail stations mostly in Russia’s northwestern and central regions as well as the lubricants lending factory in Torzhok, located around 200 kilometers north of Moscow. The purchase of the shell’s high-quality business in Russia is in line with LUKOIL’s goal to expand its key sales channels, including retail and the lubricant business.

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More Valuable Insights

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

Key Segments Profiled in the Ethoxylates Market Survey

By Application:

  • Household and Personal Care
    • Laundry & Dishwashing Detergent
    • Industrial & Institutional Cleaning
    • Personal Care
  • Agrochemicals
    • Herbicides
    • Fungicides
    • Insecticides
  • Oil and Gas
    • Foam-Control & Wetting Agents
    • Lubricants & Emulsifiers
  • Pharmaceuticals
  • Other Applications

By Product:

  • Alcohol
    • Natural Alcohol Ethoxylates
    • Synthetic Alcohol Ethoxylates
  • Fatty Amine
  • Fatty Acid
  • Methyl Ester
  • Glyceride

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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,
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Asia-Pacific to Lead the Industrial Insulation Market Surge Amid Rising Construction and Power Generation Demands

A historical market valuation of USD 8,088.6 million has been recorded by the experts of Future Market Insights for the concerned market during the base year. As per the reports published by FMI, the global industrial insulation industry is projected to have an average-paced CAGR of 5% during the forecast period. The current valuation of the market is USD 8,420.2 million in 2024. The market value of the industrial insulation market is anticipated to surpass a valuation of USD 13,731.1 million by the year 2034.

FMI has analyzed that growing industrialization and urbanization have resulted in a surge of construction and industrial activities in many regions across the world. Insulation materials have high usage across these sectors and therefore the demand for industrial insulation is estimated to rise at a rapid pace.

Since these insulators guard the equipment in extremely high and low temperatures, and reduce the risk of accidents, along with preventing moisture condensation. These aspects are estimated to bolster the growth of the market in the forthcoming years. The growing consumer awareness and robust economic growth are anticipated to bring extensive growth opportunities to the industrial insulation market.

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To maintain a safe work environment, industries across the globe are highly implementing insulation systems. However, certain aspects are estimated to impede the growth of the market. As per the analysis of FMI, the installation charges involved with industrial insulation systems are very high, and a lot of regulatory approvals are required before installations. Environmental sustainability concerns are estimated to act as a major restraint in the progression of the industrial insulation market.

Key Takeaways from the Industrial Insulation Market

  • The industrial insulation market is estimated to register an average-paced CAGR of 5% through the forecast period.
  • The Petrochemicals and Refineries segment by product type category is estimated to hold considerable shares in the upcoming years. The segment accounted for 30.3% of revenue shares in 2024.
  • The CMS Fiber segment is anticipated to progress at a CAGR of 3.9% during the period 2022-2032.
  • The North American region is expected to dominate the global industrial insulation market with the US as the dominating country, demand in the United States is set to rise at 2.8% CAGR in 2034.

“Rise of the petrochemical, oil & gas industries across the developing economies are estimated to create lucrative growth opportunities for the industrial insulation manufacturers.” – Says an FMI Analyst

Competitive Landscape in the Industrial Insulation Market

This statistical study conducted by Future Market Insights of the concerned insulation market encompasses successful business strategies deployed by the key vendors for biometric-as-a-security. The industrial insulation market is fragmented and the key players are deploying organic and inorganic growth strategies to compete in the market.

The biggies are heavily investing in research and development activities to make technological advances while manufacturing insulation systems for better services to the end-use industries.

Recent Developments

  • In March 2021, Cabot Corporation launched its ENERMAXTM 6 carbon nanotube (CNT) new series. These nanotubes are the company’s latest addition to its portfolio of high-performance CNTs. It has a high aspect ratio, becoming the most conductive multi-walled product
  • Since July 2021, Rockwool Manufacturing has commenced commercial production of stone wool insulation products. The state-of-the-art facility manufactures ROCKWOOL’s residential, commercial, and industrial stone wool insulation and is the first post-pandemic expansion in stone wool insulation manufacturing capacity in North America.
  • In June 2019, Knauf Insulation, a manufacturer of industrial insulation in the U.S. and Europe successfully completed its extension of the Rock Mineral production facility in Western Europe. The company has reposted that the new production capacity is of more than 110 kilotons.
  • In October 2018, Saint Gobain, a France-based manufacturer of high-performance construction materials, successfully acquired Kaimann, a European producer of elastomeric insulation materials. The organization thus hopes to fortify its position in the industrial insulation market in Europe.

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Some of the key players proliferating in the market are

  1. Rockwool Insulation A/S
  2. Poroc Group Oy
  3. Knauf Insulation
  4. TechnoNICOL Corporation
  5. Anco Products, Inc.

Key Segments in the Industrial Insulation Market

By Material:

  • Stone Wool
  • Glass Wool
  • CMS Fibers
  • Calcium Silicate
  • Cellular Glass
  • Foamed Plastic
  • Others

By Product:

  • Pipe
  • Board
  • Blanket
  • Others

By Application:

  • Power Generation
  • Petrochemical & Refineries
  • EIP Industries
  • LNG/LPG
  • 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.

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Nylon-6 Market Set for Strong Growth: Projected to Expand at 5.9% CAGR, Reaching USD 26,040.9 Million by 2032

The global nylon-6 industry size is expected to secure around US$ 26,040.9 Million in 2032 and is likely to hold a valuation of around US$ 14,679 Million in 2022. The global industry size is expected to exhibit a stable CAGR of 5.9% over the projection period from 2022 to 2032.

The growth in the market is attributed to the surging concern about the environment as well as the demand for nylon-6 in the emerging textile market, which will make nylon-6 a more attractive product in the market. The inclusion of PA 6 and PA 6, 6 into 3D printing systems is expected to lead to market growth for nylon-6 in the market.

From 2016-2021, the market displayed a growth rate of 5.1%.

As a result of its high pressure, heat, and corrosion resistance, it is highly regarded in the manufacturing industry. In addition to its phenomenal properties, the nylon-6 polyamide is an engineered thermoplastic that comprises good flow properties, moldability, extrusion capability, chemical resistance, and morphological properties.

It has diverse applications that involve fused filament fabrication (FFF), and nylon 6 is considered a promising candidate in future markets. Nyon-6 is known for its characterization of physical and chemical properties that make it suitable for a wide range of applications.

Approximately 60% of the global production of polyamides is composed of nylon 6.

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Around 6.6 million metric tons of nylon-6 were globally produced in 2013. In a huge variety of applications, both nylon 6 and nylon 66 can be used interchangeably depending on the local availability and the applications that require them in a particular environment.

It becomes evident that nylon 66 and nylon 6 have different properties for industrial uses.

Key Takeaways in Nylon-6 Market

Competitive Landscape in Nylon-6 Market

Key players in the global nylon-6 market are expected to focus on mergers and acquisitions. The global market is fragmented due to the presence of regional and local players spread across the globe.

To gain a competitive advantage in the market, prominent market players are inclining towards technological advancements to cater to consumer preferences.

Key Companies Profiled: 

  1. BASF SE
  2. Honeywell International Inc.
  3. DuPont
  4. Royal DSM N.V.
  5. UBE INDUSTRIES, LTD.
  6. Invista
  7. Gujarat State Fertilizers and Chemicals

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More Insights into the Nylon-6 Market

According to the FMI predictions, the global nylon 6 market will continue to dominate the North American region specifically within the transportation sector. According to the forecast, this region is expected to account for 23.8% of the global market share by 2022.

Automotive, aerospace, and other key manufacturing markets in North America drive the nylon industry.

Key Segments Profiled in the Global Nylon-6 Market

By Type:

By Application:

By Region:

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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Nanomaterials Market to Surge at 15.1% CAGR, Projected to Reach US$ 51.5 billion by 2033

The growing demand for nanomaterials in electronic applications is expected to drive market growth, fueled by its enhanced surface area during application and notable superparamagnetic properties.

The global nanomaterials industry share is anticipated to attain a valuation of US$ 12.6 Billion in 2023 and is expected to reach US$ 51.5 Billion by 2033, trailing a CAGR of 15.1% during the forecast period.

The medical industry is increasingly utilizing nanomaterials in various in-vitro and in vivo applications. The demand for nanomaterials is further expected to be driven by the rising investment from research laboratories and biomedical industries to enhance product penetration in targeted drug delivery, gene therapy, and the treatment of malignant tumors.

The industry is experiencing growth due to the expanding applications of nanomaterials and ongoing research and development efforts to create new and improved materials. Factors that are driving the global demand include:

  • The strong physicochemical properties of nanoparticles.
  • Financial support from government organizations.
  • The increasing adoption of these materials in sectors like healthcare and automotive.

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The continuous advancements in nanotechnology are playing a significant role in fostering the growth of the global market. In addition, the increasing utilization of nano-medicine in the pharmaceutical sector and the emergence of novel applications in the electronics industry are fueling the expansion of the global nanomaterials market in the foreseeable future.

The growing availability of diverse techniques and tools for synthesizing nanomaterials, including covalent synthesis and self-assembly, is fueling the industry’s growth. These nanomaterials offer various advantages such as a high surface-to-volume ratio, enhanced porosity, and improved physicochemical characteristics.

Nanotechnology holds great promise in military applications, particularly in improving camouflage through mobile pigment systems and enhancing sensor systems for detecting biological agents like viruses, bacteria, and fungi. This growing adoption in the military sector presents significant market opportunities.

Key Takeaways from Nanomaterials Market Research Report:

  • Nanomaterials market in Europe is projected to capture a CAGR of 14.7% during the forecast period.
  • The demand for nanomaterials in the Asia Pacific is predicted to expand with a significant CAGR of 15.8% from 2023 to 2033.
  • By product type, the carbon-based nanomaterial segment is expected to lead the market with a CAGR of 17.4% between 2023 and 2033.
  • By application, the healthcare segment is expected to generate significant demand with a CAGR of 19% during the forecast period.

Increasing applications of nanomaterials in the electronics sector and advancements in nanotechnology are expected to bode well for market growth – FMI Analyst.

Top 10 Key Players in Nanomaterials Industry and Their Marketing Strategy

The market for nanomaterials is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities. These players further focus on following some effective strategies such as new product launches, mergers, acquisitions, and partnerships to strengthen their position in the market.

The key market players involved are

  1. BASF
  2. EMFUTUR Technologies
  3. Evonik Industries
  4. Sigma-Aldrich Co. LLC
  5. Bayer AG
  6. SkySpring Nanomaterials
  7. Altair Nanotechnologies Inc.
  8. NANOCO TECHNOLOGIES LIMITED
  9. LG CHEM
  10. NANOCYL S.A.

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Key Innovations in the Nanomaterials Market:

  • LG Chem inaugurated a carbon nanotube plant in Korea in June 2021 to manufacture cathodes for electric vehicle batteries.
  • Cabot Corporation introduced the ENERMAX 6 series of carbon nanotubes (CNTs) in March 2021, showcasing their latest advancements in high-performance CNT technology. ENERMAX 6 has established itself as Cabot’s top-performing multi-wall CNT product in its portfolio.
  • In June 2020, Nano-C and Nantero joined forces to develop high-density, DRAM-class memory applications.
  • LG Chem disclosed plans in April 2020 to invest around KRW 65 billion (around US$ 54 million) by Q1 2021 to expand carbon nanotube (CNT) production at their Yeosu plant.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global nanomaterials market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the nanomaterials market, the market is segmented based on product, application, and region.

Nanomaterials Market Segmentation:

By Product Type:

  • Carbon-Based
  • Metal Based
  • Dendrimers-based
  • Composite Segments

By Application:

  • Transportation
  • Electrical & Electronics
  • Healthcare
  • Construction
  • Packaging
  • Consumer Goods
  • Energy

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Polypropylene Random Copolymers Market Thrives with Medical Innovations and Bio-Based Trends, Valuation to Reach US$ 101.32 billion by 2033

The global polypropylene random copolymers industry is projected to reach a valuation of US$ 41.94 Billion in 2023. The trend is estimated to create new opportunities for the market, leading to an assumed CAGR of 10.5% between 2023 and 2033. The market is likely to reach a total valuation of US$ 101.32 Billion by 2033.

The growth of the polypropylene random copolymers market is anticipated to be driven by the rise in consumption of polypropylene (PP) in end-use industries like automotive, packaging, and building and construction leading to an increase in fuel efficiency. This factor is anticipated to be a key factor driving the market over the forecast period.

Polypropylene faces significant competition from plastic compounds. Polyethylene is dominantly used and manufactured from plastic polymers. It can also be made into both soft and flexible products as well as rigid and durable ones. Polyethylene can be formed into a variety of shapes that range from the most basic to the most sophisticated.

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Key Takeaways from the Market Study:

  • Europe is anticipated to expand at a CAGR of 6.8% from 2023 to 2033. Asia Pacific is predicted to register at a CAGR of 5.7% from 2023 to 2033.
  • Based on application, the blow molding segment is likely to expand with a CAGR of 6.89% from 2023 to 2033.
  • Based on end-users, the medical packaging segment is projected to register a CAGR of 8.99% from 2023 to 2033.
  • The polypropylene random copolymers market insights rose at a 9.67% CAGR between 2018 and 2022.

“The introduction of new application areas has significantly expanded the market’s horizons and is considered to be one of the key drivers of the polypropylene random copolymers market”, comments a Future Market Insights analyst.

Competitive Landscape

The polypropylene random copolymers industry consists of a consequential number of market players. Research and development are used for introducing environment-friendly product lines from the core aspect of these manufacturers. In addition, the industry players to reinforce their position in the market also follow other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals.

Key Companies Profiled

  • LyondellBasell Industries
  • Braskem
  • China Petroleum & Chemical Corporation (Sinopec)
  • Total S.A.
  • Entec Polymers
  • ExxonMobil
  • Sasol
  • Chevron Corporation
  • Royal Dutch Shell
  • ConocoPhillips
  • Borealis
  • Formosa Plastics Group
  • Reliance Industries
  • SABIC

Key Developments

  • In November 2022, Braskem announced the construction of a new Renewable Innovation Center located in Lexington, Massachusetts at the Lexington Labs at 10 Maguire Road in Lexington, MA owned by Greatland Realty Partners.
  • In January 2023, ExxonMobil confirmed plans to move forward with a fifth oil production project off the coast of Guyana.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global polypropylene random copolymers market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the polypropylene random copolymers market, it is segmented based on key Applications: (Blow Film, Blow Molding, Injection Molding, Extrusion Molding), End-use: (Medical Packaging, Food Packaging, Consumer Products) and by Region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa).

Key Segments Covered in the Polypropylene Random Copolymers Market Report

By Application:

  • Blow Film
  • Blow Molding
  • Injection Molding
  • Extrusion Molding

By End Use:

  • Medical Packaging
  • Food Packaging
  • Consumer Products

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Japan
  • The 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Acetonitrile Market Set to Surge: Valuation Expected to Hit US$ 499.17 Million by 2033

The global acetonitrile industry is expected to attain a valuation of US$ 292.23 million in 2023 and is projected to accumulate over US$ 499.17 million by 2033 while expanding at a CAGR of 5.5% during the forecast period.

The overall acetonitrile industry is benefiting from a surge in demand driven by its increased use in the production of acrylic fibers and plastics. This growing trend has contributed significantly to the market’s expansion. In recent times, the agricultural industry has experienced a notable change in preferences, with a significant rise in demand for aqueous acetonitrile. This growing adoption of aqueous acetonitrile for agricultural activities is expected to positively impact the overall acetonitrile market.

The global market has experienced rapid expansion in recent years, and this growth trend is expected to continue in the foreseeable future. The robust growth of the market is fueled by surging demand from diverse end-use industries such as pharmaceutical production, specialty chemicals, electronics, HPLC applications, and biotechnological applications. Furthermore, the market is witnessing significant momentum driven by the increasing popularity of acetonitrile products like acrylic fibers, polyacrylamide, and acrylic plastics.

The healthcare industry’s increased spending is also contributing to the market’s attractiveness. Furthermore, ongoing research and development activities aimed at developing new medicines and improving product quality to meet environmental regulations in different regions are fueling the growth of the acetonitrile market. As a result, the market presents lucrative opportunities for industry players.

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The global acetonitrile market is experiencing significant growth primarily due to increasing demand in diverse industries, including pharmaceuticals and specialty chemicals. One of the key driving factors behind this growth is the extensive utilization of acetonitrile as a solvent in the production of insulin and other antibiotics.

Acetonitrile has observed a notable upsurge in demand for other processes, such as drug recrystallization. This surge is expected to be a major driving force for the growth of the acetonitrile market in the upcoming years. Acetonitrile holds the potential to serve as an alternative fuel in various power plants, including fluidized bed-boiled power plants, where it can be utilized as a combustion fuel alongside methanol. The demand for alternative fuels, especially in European countries, is witnessing significant growth, which is further propelling the expansion of this sector. The increasing use of acetonitrile as a raw material in the production of agricultural pesticides, coupled with its high consumption and incorporation as epoxy hardeners in agrochemicals, is contributing to the market’s growth.

Key Takeaways in Acetonitrile Market

  • The market in the United States is expected to expand at a CAGR of 5.5% during the forecast period.
  • The demand for acetonitrile in Asia Pacific is expected to expand at a CAGR of 5.7% during the forecast period.
  • Asia Pacific is expected to dominate the market by commanding over 35.4% market share in 2023.

“Extensive use of acetonitrile in the production of agricultural pesticides is expected to open new doors for market growth,” comments an FMI analyst.

Competitive Landscape in the Acetonitrile Market

To meet consumer demands effectively, major market players are collaborating closely with end users. Manufacturers are also offering design and consulting services to customers, aiming to enhance their market position both globally and regionally.

Key Companies Profiled

  1. Filo Chemical
  2. NeuChem
  3. Continental Industries Group
  4. Achemica
  5. GFS Inc.
  6. Sterling Chemicals
  7. DuPont
  8. CNPC Jilin Chemical
  9. Asahi Kasei Medical Company Limited
  10. Nova Molecular Technologies
  11. BP Chemicals
  12. AlzChem AG
  13. Purification Technologies, Inc.
  14. J.T. Baker Chemicals

Some recent developments in the acetonitrile market are:

  • In 2021, Brenntag successfully completed the acquisition of Matrix Chemical, LLC, a prominent North American solvent distributor and the largest distributor of acetone in the region.
  • In July 2019, Balaji Amines Limited initiated the production of its acetonitrile plant, featuring a total installed capacity of 9,000 tons per year.

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More Valuable Insights Available

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

To understand opportunities in the acetonitrile market, the market is segmented on the basis of end-use, application, and region.

Key Segments Profiled in the Acetonitrile Market Industry Survey

By End Use Industry:

  • Pharmaceutical Industry
  • Analytical Industry
  • Other End-Use Industries

By Application:

  • Pharmaceutical Applications
  • Organic Synthesis
  • Specialty Chemicals
  • Extraction
  • HPLC Solvents
  • DNA & RNA Synthesis

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 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
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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