Cumene Surge in the United Kingdom: Anticipated 4.4% CAGR Indicates Flourishing Growth, Hit US$ 1.9 Billion by 2032

The cumene market in Europe is poised for significant growth, buoyed by the well-established automobile industry in the region. The robust automotive market is expected to provide a strong foundation for the expansion of the cumene market. Moreover, the increasing consumption of cumene in Europe can be attributed to the rising tide of urbanization and the concurrent growth in disposable income among consumers. As cities expand and incomes rise, there is a heightened demand for various products, including those derived from cumene, contributing to the overall growth of the market in the region.

The easy access of raw materials like crude oil and natural gas is also anticipated to support cumene’s market expansion.The UK is anticipated to have a prominent position in the worldwide cumene market, growing at a compound annual growth rate (CAGR) of 4.4% to reach US$ 1.9 billion over the forecast period.

Growing utilization of the cumene for various applications is estimated to boost the market growth over the forecast period. Major factors that are expected to boost the growth of the cumene market in the forecast period are the rise in the demand for phenolic resins and bisphenol-A, and the increase in the consumption of acetone and its derivatives. Furthermore, the rise in the usage of cumene in adhesives and sealant chemicals and the upsurge in the preference for the consumers towards high octane production are further propelling the growth of the cumene market.

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The product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period. One of the major applications of cumene is in the production of phenol. The liquid-phase oxidation of cumene with molecular oxygen forms cumene hydroperoxide, which is further decomposed into phenol and acetone using a catalyst. The oxidation process requires the use of purified cumene. The catalyst used to decompose cumene hydroperoxide into phenol and acetone is sulphuric acid.

Key Takeaways from the Market Study

  • The US to account for the highest value share of US$ 14.9 Billion of global market demand for cumene in 2032
  • From 2015 to 2021, Cumene demand expanded at a CAGR of 3%
  • By production, the zeolite segment constitutes the bulk of Cumene Market with a CAGR of 6%.
  • By application, the phenol segment dominates the cumene market with a CAGR of 4%.

“Product innovations, such as the development of food-grade cumene for polycarbonate plastic-based containers and bottles are expected to extend profitable opportunities to the market players during the forecast period,” remarks an FMI analyst.

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Competitive Landscape

Players in the global Cumene Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

  • In May 2021, PPG announced the completion of a USD 13 million investment in its paint and coatings plant in Jiading, China, which includes eight new powder coating production lines and an enlarged powder coatings technology centre, which will improve PPG’s research and development capabilities. The extension will almost certainly boost the plant’s capacity by over 8,000 tonnes per year.
  • In October 2019, INEOS announced that it had broken ground at its global-scale cumene investment facility at Marl, Germany. With a capacity of 750,000 ton per year of cumene, the plant’s construction was expected to be completed in 2021.

Top Key Players in the Global Market

  • Braskem
  • Cepsa
  • Chang Chun Group
  • CITGO
  • Domo Chemicals
  • Dow
  • INEOS
  • Koch Industries Inc.
  • Kumho P&B Chemicals Inc.
  • Prasol Chemicals Pvt. Ltd
  • Royal Dutch Shell PLC
  • SABIC
  • Versalis SpA

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Key Segments Covered In The Cumene Market Report

Cumene Market by Production:

  • Zeolite Cumene
  • Solid Phosphoric Acid Cumene
  • Aluminum Chloride Cumene

Cumene Market by Application:

  • Cumene for Phenol
  • Cumene for Acetone
  • Cumene for Other Applications

Cumene Market by Region:

  • North America Cumene Market
  • Latin America Cumene Market
  • Europe Cumene Market
  • Asia Pacific Cumene Market
  • Middle East and Africa Cumene Market

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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MEA Kitchen Storage Market is Anticipated to Reach at a US$ 1,917.6 Million by 2033 | FMI

The Middle East and Africa kitchen storage market will grow to US$ 1,284.8 million by 2023. Sales are expected to grow at a strong 4.1% CAGR, according to the analysis, and the market worth will reach US$ 1,917.6 million by 2033. Three to five percent of the worldwide kitchen storage market is made up of the MEA region’s total sales.

Since the last few years, kitchen storage has grown in significance. Homeowners’ willingness to spend on home design items is mirrored by an increase in their spending on kitchen storage accessories.

Kitchens must have space for everything necessary, from tableware to culinary supplies like cooking oil and spices.

By minimising clutter and congestion, kitchen storage organisation goods including cabinets, drawers, tableware & serving storage, and pantry organisers significantly help in the creation of more navigable space, enabling people to make better use of kitchen space.

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Different-sized storage accessories are being marketed by manufacturers depending on the size of the residence. According to projections, the global market for kitchen storage would be worth over US$ 150 billion by 2027 and rise at a compound annual growth rate of more than 3% from 2019 to 2027.

Global Kitchen Storage Market- Competitive Landscape

The existence of a sizable number of market participants, which gives the global kitchen storage market its competitive aspect, distinguishes it.

Flywell International Corp, Masterclass Kitchens, Enclume Design Products, Kitchen Magic, Rev-A-Shelf, Inter IKEA Systems B., and ShefGenie Franchise Systems, LLC are a few notable participants in this market.

These players are focusing on joint ventures, acquisitions, and product introductions. For instance, Knape & Vogt expanded its kitchen storage organisation market by purchasing Diamond Storage LLC and CompX International’s furniture components operations in 2013.

In order to increase its sales of Now Kitchens’ product line, Masterclass Kitchens and the latter company partnered in January 2016. The company currently offers a wide range of goods, from contemporary kitchens to freestanding furniture.

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The LifeProof Glass Water Bottle from Anchor Hocking LLC was unfilled with plastic the following year. This bottle stands out because it was made using a glass tempering method, which makes it significantly stronger than a typical glass bottle.

Metal Kitchen Storage Devices to Generate Latent Opportunities, Wooden Shelves Surge in Popularity

Over the course of the projected period, metal kitchen storage devices are becoming more and more popular due to their high corrosion resistance, increased durability, and longer lifespans. Customers are spending a lot of money on stainless steel cabinets because they dramatically reduce the likelihood of rusting when exposed to moisture or air and are made from high nickel and chromium alloys.

Steel is also resistant to high temperatures.

Additionally, steel-based kitchen storage items are non-permeable, which means nothing can flow through them and makes cleaning much simpler.

However, wood-based technology is gaining popularity due to its aesthetic value and ease of cleaning from accumulated dirt and dust. Because it is lightweight, organising it is also made simpler.

Sink & Under Sink Sales to Hold Major Sway across the Forecast Period

Stainless steel, cast iron, composites, and solid surfaces are becoming increasingly popular materials for kitchen sink and under-sink accessories. This is due to the fact that managing kitchen trash is becoming increasingly crucial. To keep a neat and clean home, kitchen trash must be disposed of properly.

Since consumers want to save money, multi-functional sinks are growing in popularity nowadays. For instance, sinks now come with guards, drain kits, strainers, and soap dispensers.

Additionally, sensor-equipped smart sinks are increasingly popular for controlling water usage. By 2027, the sinks and smart sinks market will be worth US$40 billion.

Residential Grade Kitchen Storage Devices to Enjoy the Lion’s Share, Commercial Grade Catching Up

Customers want more sophisticated dwelling designs and layouts as urbanisation intensifies. Due to the increased need for effective and sustainable kitchen management, there has been an increase in the price of kitchen storage accessories.

Manufacturers are increasing their chances of making money by selling environmentally friendly goods, like energy-efficient dishwashers, which help consumers save money.

By the end of 2027, the residential grade market will be worth close to US$ 150 billion. Simultaneously, the rising popularity of eating in cafeterias and restaurants is improving commercial-grade kitchen storage appliances, creating profitable prospects for market participants to build significant revenue ecosystems.

Sales of Premium-Grade Kitchen Storage Products Gaining Immense Momentum due to Surging Living Standards

People’s living standards have improved as a result of urbanisation since more of them are working in well-paying positions, which has increased their disposable income levels. As a result, their demand for luxury and high-end goods would inevitably rise.

As a result, they are spending more money on high-end kitchen storage accessories. Consumers are more focused on an improved level of living in the modern day. This suggests that they are prepared to spend a larger portion of their income to obtain goods of excellent quality.

In the case of kitchen storage accessories, consumers are more concerned about an organized kitchen for which they tend to invest in expensive kitchen storage products.

Global Kitchen Storage Market- Company Profile

Flywell International CorpMasterclass KitchensEnclume Design ProductsKitchen MagicRev-A-ShelfInter IKEA Systems B.VShefGenie Franchise Systems, LLCKessebohmer Clever StorageBlum Australia Pty LtdOld Dutch InternationalAnchor Hocking, LLCKnape & Vogt Manufacturing Company

Middle East And Africa Kitchen Storage Market by Category

By Product Type:

  • Tall Cabinets
  • Sink Cabinets
  • Shelving Cabinets
  • Other Types

By End User:

  • Residential
  • Hotels & Restaurants
  • Cafes
  • Catering
  • Other Applications

By Price Range:

  • Premium
  • Economic/Low

By Sales Channel:

  • Direct
  • Indirect
    • Specialty Stores
    • Departmental Stores
    • Multi-Brand Stores
    • Exclusive Stores (Custom)
    • Online Retailers
  • Direct-To-Customer
  • Third Party Sales

By Country:

  • GCC Countries
  • Israel
  • North Africa
  • South Africa
  • Turkey
  • Rest of MIDDLE EAST AND AFRICA

About Future Market Insights, Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Smart Home Platforms Market Set to Grow at 16.5% CAGR, Anticipated to Reach US$ 110 Billion by 2032

The global smart home platforms market achieved a value of US$ 20.5 Billion in 2021 and is poised to exhibit a remarkable (CAGR) of 16.5%, reaching a significant milestone of US$ 110 Billion between 2022 and 2032. The increasing adoption of smart home platforms, which enriches customers’ experiences, is a key driver propelling market expansion. Furthermore, the ability of smart home platforms to facilitate remote control of various home functions adds another dimension to their demand, thus contributing to market growth.

Smart home platforms, also known as IoT platforms for smart homes, are software apps that link with connected devices, enabling communication, command response, and event handling. Their primary goal is to unify and ensure compatibility among smart devices, thereby regulating and harmonizing their functions.

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Key Drivers:

  1. Integration and Compatibility: Smart home platforms aim to unify various smart devices by ensuring their compatibility and seamless communication, driving the convenience of managing multiple devices from a single platform.
  2. Data Management and Security: The ability of smart home platforms to store, analyze, and secure collected data enhances the overall user experience by ensuring the safety and privacy of sensitive information.
  3. Operational Efficiency: Smart home platforms streamline the management of smart devices, simplifying operations and enhancing user satisfaction by providing a centralized control interface.
  4. Personalization and User Satisfaction: These platforms use collected data to tailor experiences to users’ preferences, predicting and meeting their needs, ultimately creating enjoyable and satisfying smart home environments.
  5. Scenario Preparation and Adaptability: Smart home platforms analyze stored data to predict and prepare for future scenarios, ensuring adaptability to changing environmental conditions and user requirements.
  6. Enhanced Automation: The automation capabilities of smart home platforms contribute to a more comfortable and enjoyable living environment by anticipating users’ behaviors and needs.
  7. Convenience and Ease of Use: Users can control and manage multiple smart devices effortlessly through a single platform, enhancing the convenience and user-friendliness of their smart homes.

Key Takeaways from the Smart Home Platforms Market Study:

  • Smart home platforms catering to security and surveillance dominate the market with a substantial 53.3% share, growing at a robust CAGR of 16.7%.
  • IoT platforms focused on smart appliances are projected to contribute to 65% of the revenue throughout the forecast period.
  • The North American market is poised to reach a value of US$ 24 Billion, displaying a steady CAGR of 16.5%.
  • Asia Pacific region is anticipated to exhibit a notable CAGR of 15.2% during the forecast period.
  • The global smart home platforms market is set to expand by 4.6 times from 2022 to 2032.
  • “The increasing demand for efficient household security systems and the convenience of remotely controlling smart appliances has led to widespread adoption of smart home platforms like Alexa worldwide,” notes an analyst from FMI.

Competitive Landscape:
Key players in the global Smart Home Platforms market comprise Apple Inc., Google LLC, Cisco Systems, Inc., Resideo Technologies, Inc., Amazon.com, Inc., LG Electronics, Samsung Electronics Co. Ltd., Siemens AG, Robert Bosch Smart Home GmbH, and General Electric Company. Recent significant developments among these players include:

  • In June 2022, Samsung Electronics launched SmartThings Home Life, offering a comprehensive smart home experience in 97 countries.
  • In January 2020, Apple, Google, Amazon, and the Zigbee Alliance collaborated on a new smart home standard named “Project Connected Home over IP”.
  • In February 2020, Cisco acquired Exablaze, an Australia-based designer and manufacturer of advanced network devices.

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Additional Valuable Insights:
In its latest report, FMI delivers an impartial assessment of the worldwide Smart Home Platforms market, offering historical data for the period 2017-2021 and projecting statistics for 2022-2032.

The analysis unveils crucial findings categorized by Type, including IoT Platform for Control and Connectivity Devices, IoT Platforms for Security and Surveillance Systems, and IoT Platform for Smart Appliances. Additionally, the study segments the data by Region, encompassing North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa.

Smart Home Platforms Market Segmentation:

By Type:

  • IoT Platform for Control & Connectivity Devices
  • IoT Platform for Security & Surveillance Systems
  • IoT Platform for Smart Appliances

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

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
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Super Absorbent Polymers (SAP) Market Set to Surge at 5% CAGR by 2033, Fueled by Booming Personal Care Industry

The market for super absorbent polymers is expected to grow from US$ 10.2 billion in 2023 to US$ 16.5 billion in 2033. The super absorbent polymer market is anticipated to expand at a noteworthy compound annual growth rate (CAGR) of 5% over the projected timeframe.

The adoption of super absorbent polymers is increasing as a result of an older population and more awareness of the advantages and practicality of adult incontinence solutions. In response to the rise in adult incontinence cases, governments from various countries are focusing on producing incontinence products through collaborative efforts with manufacturers and medical professionals.

In countries such as the United States, the United Kingdom, Germany, and Australia, government initiatives encourage the use of adult incontinence products. Furthermore, the demand for super absorbent polymers is expected to rise because of their superior water absorption and holding capacity in the construction and waste management industries.

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Manufacturers in the market for such materials are developing the iodine transfer polymerization (ITP) technique to generate new classes of superabsorbent polymers based on acrylic acid (AA). Because of their remarkable absorption characteristics, ITP-produced AA-based superabsorbent polymers are gaining appeal in the diaper industry. As a result, superabsorbent polymer companies are stepping up R&D efforts to employ specific organoiodine chain transfer agents to polymerize AA in an aqueous solution.

The ITP method makes it feasible for superabsorbent polymers to have better gel strength and absorption capabilities, which is favorable to diaper manufacturers. Businesses are enhancing their reputations by creating super absorbent polymers that balance biomass. Expanding the distribution network is becoming more important to take advantage of the unmet demands that are prevalent in emerging nations. Additionally, to stay up with shifting customer preferences, more focus will likely be placed on the creation of bio-based SAP.

Key Takeaways from the Super Absorbent Polymers Market

  • The US super absorbent polymer market is anticipated to expand at a CAGR of 4.8% over the anticipated time frame. By 2033, it is anticipated that sales of super absorbent polymers in the US are likely to surpass US$ 3.1 billion.
  • Sales of super absorbent polymers increased at a 4.4% CAGR between 2018 and 2022, citing FMI’s study.
  • Between 2023 and 2033, sales in North America are anticipated to grow at a 4% CAGR, supported by increased demand in the United States and Canada.
  • The market for super absorbent polymers in the UK is anticipated to grow at the greatest rate, 5.5% CAGR. By 2033, it is expected that the UK market would have contributed more than US$ 982.4 Mn in revenue.
  • China’s super absorbent polymer sector is estimated to exceed US$ 3.4 Bn by 2033.
  • Between 2023 and 2033, sales of super absorbent polymers are likely to increase in Japan and South Korea at 4% CAGR and 4.4% CAGR, respectively.
  • The market for super absorbent polymers is anticipated to rise in Europe at a CAGR of 4.4% between 2023 and 2033.

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Who is Winning?

Companies in the super absorbent polymers market are pursuing strategic alliances and partnerships with other major players to increase their regional footprint. To preserve their global presence, manufacturers are likewise concentrating on expanding their production operations abroad. Due to stringent environmental regulations and growing customer demand for sustainable products, major players in the market are looking for renewable resources to increase their production capacity in eco-friendly raw materials.

Recent Developments in the Super Absorbent Polymers Industry

  • The Abu Dhabi National Oil Company, Adani Group, BASF SE, and Borealis AG have all committed to the feasibility study to evaluate a collaboration for the construction of a chemical complex as of October 2019.
  • In March 2021, BASF stated that it will invest around $30 million in its highly absorbent polymer division. BASF is creating a state-of-the-art center of excellence for super absorbents in Antwerp, Belgium.
  • In June 2021, Bharat Petroleum Corporation Limited (BPCL) announced that it will construct a super-absorbent polymer unit at the Kochi refinery.
  • The FAVOR®max line of ultra-thin baby diapers with special qualities that make diapers and incontinence products even more dependable and absorbent was introduced by Evonik Industries AG in March 2017.

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Super Absorbent Polymers Market by Category

By Product Type:

  • Sodium Polyacrylate
  • Polyacrylamide Copolymer
  • Others

By Application Type:

  • Disposable diapers
  • Adult Incontinence Products
  • Feminine Hygiene Products
  • Agriculture Products
  • Others

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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Freestanding Large Cooking Appliance Market is Anticipated to Grow at a CAGR of 4.3% by 2032

The global freestanding large cooking appliances market is anticipated to reach US$ 29,700.4 Million by 2032, at a CAGR of 4.3% from 2022 to 2032, from an estimated US$ 19,494.8 Million in 2022. In the market for kitchen appliances, the demand share for freestanding large cooking appliances is between 15% and 20%.

Electronic capabilities have enabled modern kitchen appliances to grow smarter. Modular kitchens are becoming increasingly popular due to the efficiency of integrated appliances. Makers are constantly allowing for more integrated fixtures, making them more accessible to the general public.

Modern retail forms such as malls, supermarkets, and megastores are becoming increasingly popular. As a result, makers of standalone kitchen appliances are profiting on this trend and cooperating with these end users.

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Also, several manufacturers in this industry are developing cutting-edge appliances and services for the kitchen. Innovations in technology, such as the development of attractive, complex kitchen equipment that can be controlled via an app, are accelerating the demand in the market. As an increasing number of individuals are concerned about their personal health, the market for tranquil and clean kitchen appliances is increasing rapidly.

Key Takeaways from the Freestanding Large Cooking Appliances Market Study

  • By sales channel, online retailers segment is projected to gain traction over the assessment period
  • India is expected to dominate the South Asia freestanding large cooking appliances market though 2032
  • The U.S. is expected to account for significant share in the global freestanding large cooking appliances market
  • In terms of product type, the freestanding hobs segment will witness highest growth over the forecast period
  • Based on application, the commercial segment will grow at a fastest rate through 2022 & beyond

Who is winning?

Energy-efficient goods are being developed by market participants by examining new raw material and production options, as well as novel thermal element designs. Some of the biggest companies on the market are always updating their product line with the most cutting-edge and cutting-edge technology. A significant portion of their R&D budgets is going into developing new products that take use of cutting-edge technology like artificial intelligence (AI) and the internet of things (IoT).

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Major players present in the freestanding large cooking appliances market are Samsung Electronics Co. Ltd; Morphy Richards; LG Electronics Inc.; Whirlpool Corporation; Hitachi Appliances Inc.; Koninklijke Philips N.V.; AB Electrolux; Haier Group Corporation; GE Appliances; and Robert Bosch GmbH.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global freestanding large cooking appliances market, presenting historical demand data (2015-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the freestanding large cooking appliances market based on the product type (Freestanding hobs, Freestanding Ovens, others), application (residential and commercial), sales channel (hypermarkets/ supermarkets, convenience stores, online markets and others) across seven major regions.

Freestanding Large Cooking Appliances Market by Category

Product Type:

  • Freestanding Hobs
  • Freestanding Ovens
  • Others

By Application:

  • Residential
  • Commercial

Sales Channel:

  • Wholesalers/Distributors
  • Multi-Brand Stores
  • Specialty Stores
  • Hypermarket/Supermarkets
  • Online Retailers
  • Other Sales Channel

Region:

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

About Future Market Insights, Inc. (FMI)

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

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
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Reinsurance Market Set for 4.5% CAGR Ascend Towards a US$ 474 Billion Summit

The reinsurance market revenues were expected to be US$ 292.4 Billion in 2021 and are projected to increase at a CAGR of 4.5% from 2022 to 2032. The market is anticipated to reach a US$ 474 billion valuation by the end of 2032. Between 2022 and 2032, the market in Japan is expected to provide an absolute dollar opportunity of US$ 19.5 billion.

Reinsurance is essential for the Japanese insurance industry because of the complexity, diversification, and expansion of risks. In Japan, typhoons and earthquakes happen frequently. To cover these risks, Japanese insurers must use foreign reinsurers.

Non-life insurance companies in Japan also play a key role in the global reinsurance market. Japan has one of the world’s most extensive insurance markets. Besides, it is also the world’s fourth-largest property and casualty insurance market, with premiums totaling US $68.8 Billion, thus opening numerous opportunities for reinsurance companies. Besides, the country has also emerged successfully in the life insurance sector. In April 2022, Reinsurance Group of America, Inc. announced an agreement to coinsure JPY 160 Billion (US $ 1.2 Billion) in statutory reserves with Taiyo Life Insurance Company, a subsidiary of T&D Holdings, Inc. Taiyo Life will continue to service the insurance policies covered by the contract.

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Key Takeaways from the Reinsurance Market Report:

● Global Reinsurance Market is expected to reach a market size of US$ 306.4 Billion by 2022.

● The Non-Life/Property & Casualty Reinsurance Companies segment, is expected to account for the highest CAGR of 4.3% during the forecast period.

● The United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 62.9 Billion during 2022 – 2032.

● The market in Japan is set to experience the highest CAGR of 7.3% during the 2022-2032 forecast period.

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The reinsurance market is a financial market where insurance companies transfer some of the risks associated with their policies to other companies in exchange for a fee. Reinsurance is used to reduce the overall risk of an insurance company and to ensure that it has the resources to pay out claims in the event of a catastrophic loss. Reinsurers provide various services, including risk assessment, underwriting, and claims management, and also help insurance companies manage their capital and liquidity. The market is divided into two segments: treaty reinsurance and facultative reinsurance. Treaty reinsurance is a long-term agreement between the reinsurer and the insurance company, whereas facultative reinsurance is a one-time agreement for a specific policy or group of policies.

Competitive Landscape:

The market is fiercely competitive, where key players are increasingly focused on obtaining a competitive advantage. The key companies in the Reinsurance Market are focused on R&D to produce innovative technological solutions.

· In October 2020, Toa Reinsurance Company, Ltd. announced that it had expanded the product offerings of Toa Re Europe, based in Zurich, Switzerland, to include Life reinsurance in addition to the Property and Casualty reinsurance business that it began underwriting at the end of 2018. Life reinsurance is an important part of their group strategy, enabling them to expand their offering in Zurich for EMEA clients.

· In April 2022, Covéa’s acquisition of PartnerRe has been approved by the European Commission. For this, a US$ 9 Bn transaction had been discussed in 2021. In October, EXOR and Covéa agreed to sell the reinsurer in its entirety to the latter. Following those discussions, the EC announced that the merger had been approved under the EU Merger Regulation. Following labor council consultations, EXOR and Covea came to an agreement for Covéa to purchase the Bermuda-based reinsurer.

· In May 2022, Brookfield Reinsurance completed its all-cash acquisition of American National for $5.1 billion. A critical step in carrying out Brookfield Reinsurance’s growth strategy to provide policyholders with long-term value and security. This demonstrates Brookfield Reinsurance’s leadership in providing capital and investment solutions to US-based insurers.

Leading Key Players:

  • Barents Re Reinsurance Inc.
  • Berkshire Hathaway Inc.
  • BMS Group Ltd.
  • China Reinsurance (Group) Corporation
  • Everest Re Group, Ltd.
  • Swiss Re
  • Munich Re
  • Covea
  • Brookfield Reinsurance
  • Bluefire Insurance
  • SCOR SE
  • Hannover Re
  • AXA SA
  • Zurich Insurance Group

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Reinsurance Market Segmentation:

By Distribution Channel:

  • Direct Writing
  • Broker

By End-User:

  • Life & Health Reinsurance
  • Non-Life/Property & Casualty Reinsurance

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Wireless Telecommunication Services Market Set to Reach US$ 2705.6 Million by 2032 with a 7.5% CAGR

The wireless telecommunication services market is also anticipated to increase at a healthy CAGR of 7.5% between 2022 and 2032, reaching a value of roughly US$ 2705.6 Million by that year due to the growing usage of wireless telecommunication services across various industries.

The wireless transmission or reception of electromagnetic signals is referred to as wireless telecommunication services. It involves data transfer or telecommunication in which electromagnetic waves, rather than wires or cables, carry signals over all or a portion of the data communication path.

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One of the global industries with the fastest growth over time is wireless telecommunication services. Customers can send and receive messages via electronic means by using wireless telecommunications services.

Global Wireless Telecommunication Services Market: Drivers and Challenges:
With the increasing adoption of advanced technology-based solutions and services, organizations are opting for IoT to make their operation more efficient, and easy to access. Infrastructural advancement from smart homes to various other hospitality renovations showcases the potential for the application of wireless telecommunication services. 

Enterprises deploying digital solutions and seeking cost-effective and more accurate services are among the other factors expected to drive the growth of the global wireless telecommunication services market.  Innovation through partnerships among various sectors is expected to fuel the growth of the global wireless telecommunication services market during the forecast period. 

The rising adoption of smartphones and apps offering mobile services is anticipated to drive growth in revenue to the global wireless telecommunication market during the forecast period. Consumers opting for wireless connection rather than landlines are among the trends in the global wireless telecommunication market.

Enhanced speed of wireless connections at affordable prices continues to encourage the adoption of wireless telecommunication services among the population.

Who are the Key Players in the Global Wireless Telecommunication Services Market?

Some of the key players in the wireless telecommunication services market are

  • Intelsat SA
  • AT&T, Inc.
  • T-Mobile USA, Inc.
  • Iridium Communications Inc.
  • NTT DOCOMO Inc.
  • Softbank Telecom Corp.
  • China Mobile Limited
  • Hawaiian Telcom
  • U.S. Cellular
  • New-Cell, Inc
  • dba Cellcom
  • Rogers Communications among others.

The leading providers of wireless telecommunication services are continuously focusing on improving their services and bandwidth. They have adopted various strategies such as partnerships, collaborations, acquisitions, and mergers to gain a competitive edge in the market.

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Global Wireless Telecommunication Services Market: Regional Outlook:
Based on the geographic region, the wireless telecommunication services market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific excluding Japan, and the Middle East & Africa. North America held the largest revenue share in the wireless telecommunication market followed by Europe, and Asia Pacific owing to major technology providers based out in this region, and easy adoption of these technologies by the population in the regions. 

The other nations in Japan, the Middle East and Africa, and Latin America hold significant potential for growth in the wireless telecommunication services market, with rising demand for wireless telecommunication services owing to the better convenience of using wireless technology. Moreover, advancements in telecommunication services with better connectivity and bandwidth are some of the factors that strengthen the growth of the wireless telecommunication services market throughout the forecast period.

Wireless Telecommunication Services Market Segmentation:

By Services Type:

  • Voice Services
  • Data Services
  • Texting Services
  • Others

By Application:

  • Smart Homes
  • Medical & Healthcare
  • Hospitality
  • Manufacturing
  • Automotive & Transportation
  • Retail (supply chain)
  • Agriculture
  • Military & defense.

By Region:

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

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Agricultural Robots Market Soars with a Projected 17.7% CAGR, Expected to Hit US$ 30,500.51 Million by 2032

The agricultural robots market is expected to be worth US$ 5,994.27 million by 2022. Sales of US$ 30,500.51 million at a CAGR of 17.7% are anticipated to be generated by 2032 on the global market for agricultural robots.

Because automation is fueled by a growing population and workforce shortages, developing IoT and navigation technology lowers the expenses related to automation. It is expected that rapidly evolving technologies will have a significant impact on a wide range of industries.

Consumer demand for food is growing along with the world’s population. The agricultural industry is now progressively embracing technological solutions to raise agricultural productivity.

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Agriculture Robotics Market: Drivers and Restraints:
Replacing farmers’ efforts with smart robots is the major driver propelling the growth of the market. Also, the population all across the world is increasing, which is fuelling the demand for more crop production, thus piloting the growth of the agriculture robotics market during the forecast period.

The government of emerging nation such as India and China is focussing on launching smart farmer project, which is anticipated to create huge industry expansion opportunity shortly. Further, the demand for driverless tractors and the increasing application of robots for indoor farming, dairy management, and horticulture are the other factors responsible for the growth of the agriculture robotics market.

High initial investment and skilled staff for accessing the robot are the two factors coupled together to challenge the growth of the agriculture robotics market in recent years. Apart from this, government subsidies and farmer development training programs may assist in overcoming the above-mentioned challenge.

Leading Key Players:

  • Tractor LLC
  • Blue River Technology Inc.
  • AutoProbe Technologies LLC
  • BouMatic Robots BV
  • Deere & Company
  • Harvest Automation Inc.
  • Precision Hawk
  • Yamaha Motor Corporation
  • GoPro, Inc.

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Global Agriculture Robotics Market: Regional Trend
North America is expected to witness the largest market growth regarding revenue, owing to the increasing penetration of modern agriculture equipment. Further countries such as Canada and the U.S. are anticipated to exhibit positive market growth, due to increasing inclination adoption of the automation process.

Asia-Pacific countries such as China and India are estimated to capture the fastest market growth, owing to supportive government regulation to encourage smart agriculture projects in the respective region, which is expected to spur the demand for agriculture robotics in forthcoming years.

Agricultural Robots Market Segmentation:

By Product Type:

  • Agricultural UAV
  • Driverless Agricultural Tractors
  • Agricultural Milking Robots
  • Automated Agricultural Harvesting Machine

By Application:

  • Agricultural Robots for Field Farming
  • Agricultural Robots for Dairy Management
  • Agricultural Robots for Indoor Farming
  • Agricultural Robots for Horticulture

By Offering:

  • Agricultural Robot Hardware- Automated & Controlled System
  • Agricultural Robot Sensor & Monitoring Device
  • Agricultural Robot Software Service

By Region:

  • North America
  • Europe
  • Asia Pacific Excluding
  • 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 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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Future Market Insights Inc.
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Car Seat and Accessories Market to Reach US$ 8.3 Billion with 4.5% CAGR by 2032 | FMI

The car seat and accessories are projected to grow from US$ 5 billion in 2021 to US$ 5.3 billion in 2022. According to other projections, the market will expand at a 4.5% CAGR and reach a valuation of US$ 8.3 billion by 2032. Growth is ascribed to a powerful automotive sector that is well-established in terms of product offerings and technology.

The global automobile industry is well established globally and has been steadily evolving in terms of technology and product offerings to cater to the large customer base around the globe. Moreover, it plays a pivotal role in driving the economic growth of any developing or developed country.

As a globally prominent industry, it is critical that the automotive industry stays ahead of the curve in terms of technology, with ongoing developments in automotive components and products. Car seats and accessories are examples of such components that have undergone constant development at regular intervals.

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Some of the key players operating in the global car seat and accessories market

  • Phoenix Seating Limited
  • Morrck Ltd.
  • Clek Inc.
  • Britas Romer
  • RDM Group
  • Amvian Automotive Pvt. Ltd.
  • Diono LLC
  • Lear Corporation
  • Zone Tech
  • Wagon
  • Motor Trend
  • CarXS
  • Unique Bargains
  • Kojem
  • Welpettie
  • EDAL

Car Seat and Accessories Market: Key Developments

In 2017, Lear Corporation, a key player in the global car seat and accessories market, announced the acquisition of Grupo Antolin’s seating business. Grupo Antolin specializes in the production of various car seat and accessories for North America and Europe markets

In 2018, Britas Römer another marquee player in car seat and accessories launched a new variant of car seat under the brand name of KIDFIX XP SICT and DUALFIX.

Car Seat and Accessories Market: Key Trends

Prominent car seat and accessories manufacturers have been making several key acquisitions in the view of expanding their business in the global market.

Opportunities for Car Seat and Accessories Market Participants

Over the years, customer perception has been changing with time and new technologies in the market. This factor has also been influencing the global car seat and accessories market. Customers desire to customize their car seat and accessories in accordance with their preference.

Furthermore, families with newborns or toddlers take extra precautions to ensure that their vehicles are equipped with baby care car seats, creating a huge opportunity for competitors in the global car seat and accessory market to gain traction in the baby care or infant care category.

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Brief Approach to Research for Car seat and Accessories Market

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, product type, application and sales channel.

The study is a source of reliable data on

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

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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Marine Fin Stabilizer Market Propelling Opportunities with a Projected CAGR of 12.1% | Future Market Insights, Inc.

The global marine fin stabilizer market is anticipated to reach a valuation of US$ 8.3 billion in 2023, driven by the growing marine market culture. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 12.1% between 2023 and 2033, and reaching a total valuation of around US$ 26.1 billion by 2033.

Technological developments in ship design have allowed naval architects in analyzing and studying the wave motions around the bottom or hull of the ship. Further, they have impactfully assisted them with advancement in designs and methods to lessen such effects. Consequently, passengers and crew of the ship guarantee a safe and comfortable voyage which further augments the growth of the marine fins stabilizer market.

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Various categories and patterns of motion have been experienced during their voyage because of the wind and water waves which is most likely to hinder the growth of the marine fin stabilizer market.

Key Takeaways from the Market Study

  • The global marine fin stabilizer market expanded at a CAGR of 11.3% between 2018 and 2022.
  • The market share of North America in 2022 was 27%.
  • Germany is forecasted at a CAGR of 10.9% CAGR from 2023 to 2033.
  • China is predicted at a CAGR of 6.8% CAGR from 2023 to 2033.
  • Based on product type, the retractable segment is estimated to influence the global marine fin stabilizers with a market share of 70.1% in 2022.
  • Based on vessel type, merchant vessel is projected to create a market share of 50.2% in 2022 of the market share.

“Increase in the overall demand for marine fin stabilizers is one of the key drivers of the marine fin stabilizer market”, comments a Future Market Insights analyst.

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Market Competition

Key players in the marine fin stabilizers market focus on research and development for new product designs of fin stabilizers for merchant vessels, fishing vessels, and coast guard ships. Many companies also focus on strengthening their geographic presence across the globe through partnerships and collaborations with other manufacturers.

  • First order for LNG fuel gas supply systems was received by Mitsubishi Heavy Industries for their high-pressure marine engines for both low and high-pressure types.
  • Kongsberg Maritime announced a contract with Finnish shipyard Rauma marine constructions (RMC) for delivering marine propulsion and steering equipment for passenger ferries.

Key Companies Profiled

  • The Neptune
  • Groupe Foure Lagadec
  • Fincantieri S.p.A
  • SKF Group
  • Western Marine Electronics Inc.
  • Imtra Corp
  • Kongsberg Maritime (RRCM)
  • The NAIAD Dynamics US Inc
  • Mitsubishi Heavy Industries
  • Quantum Marine Stabilizers
  • Matn’s Stabilizers
  • CMC Marine Srl
  • ABT TRAC
  • Rotorswing Marine United Kingdom
  • WTSV Technologies

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Global Marine Fin Stabilizer Market by Category

By Product Type:

  • Retractable fin stabilizers
  • Non- retractable fin stabilizers
  • Anchor or rest stabilizers

By Vessel Type:

  • Passenger Vessels
    • Passenger & Vehicle Ferries
    • Cruise Ships
    • Yachts & Superyachts
  • Naval and Coast Guard Vessels
  • Fishing Vessels
  • Merchant Vessels

By Fit Type:

  • First Fit
  • Retro Fit

By Region:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

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

 

Contact Us:        

Nandini Singh Sawlani   

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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