Market Research Blog – Page 2182 – New Product Development

Global Monkeypox Treatment Market Poised to Reach USD 249 Million by 2033, Driven by Increased Demand and Product Approvals | FMI

The global monkeypox treatment market is on a significant growth trajectory, expected to reach a valuation of USD 93.84 million in 2023 and projected to grow to USD 249 million by 2033. This represents a robust compound annual growth rate (CAGR) of 10.25% over the forecast period.

The rising demand for effective treatments, vaccinations, and therapeutics for rare diseases is a key factor propelling the growth of the monkeypox therapeutics market. While there is currently no specific treatment or defined pharmaceutical for monkeypox, symptomatic treatments are available. The increased demand for pain and itch relief caused by monkeypox-related boils and rashes is contributing positively to market growth. Furthermore, a surge in product approvals is anticipated to fuel the market expansion during the forecast period.

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A notable development in this space is the approval of the Jynneos vaccine by the United States Food and Drug Administration (FDA). On August 9, 2022, Bavarian Nordic, a fully integrated vaccine company dedicated to the development, manufacturing, and commercialization of life-saving vaccines, announced that its Jynneos vaccine received FDA approval as an emergency drug for the treatment of the growing monkeypox disease. This approval is expected to significantly boost the market in the coming years.

The global monkeypox treatment market is set to witness substantial growth, driven by increasing demand for symptom relief, enhanced treatment options, and significant advancements in vaccine approvals. This market growth underscores the urgent need for effective therapeutics in combating the spread and impact of monkeypox.

Key Takeaways from the Market Study:

North America is expected to dominate the industry while reaching market share of around 48% by end of the forecast period.
The market in Asia-Pacific is projected to reflect fastest CAGR of 11% during the projected timeline.
By treatment type, tecovirimat is projected to account for 61% market share by end of the forecast period.
By route of administration, oral segment is expected to account for 70% market share by end of 2033.

“Rapid product approvals and surging investments in healthcare infrastructure will augment market growth in the forecast period,” comments an FMI Analyst

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Competitive Landscape:

The global Monkeypox treatment market is extremely competitive owing to presence of large number of players and innovative product offerings. Additionally, business expansion activities through partnerships and agreements are factors projected to further increase the competition. The major players in the market are:

SIGA Technologies Inc.
Chimerix, Inc.
Bavarian Nordic
Sanofi SA
Emcure Pharmaceuticals
Jinan Jinda Pharmaceutical Chemistry Co., Ltd
Emergent Pharmaceuticals
Gilead Sciences, Inc.
Hetero
Piramal Pharma Solutions

Key market players are concentrating on adoption of inorganic growth strategies such as acquisition, partnerships and collaboration in order to improve its product portfolio. This is anticipated to drive the global monkeypox treatment market.

For instance, in 2021, SIGA, a commercial-stage pharmaceutical company concentrated on the health security market, declared that it entered into a collaboration with Oxford University In the U.K. to provide ‘tecovirimat’ to treat individuals suffered from monkeypox in the Central African Republic (CAR).
In July 2022, Bavarian Nordic A/S declared that the company received an additional order for 2.5 million doses of JYNNEOS from the U.S. BARDA.
In August 2022, the United States FDA authorised emergency use of JYNNEOS vaccine intradermal injectable for healthcare professionals over 18 years of age and older determined to be at higher risk of monkeypox infection.

Key Segments Profiled in the Monkeypox Treatment Industry Survey:

By Treatment Type:

Prophylactic- Vaccines
Therapeutic
- Tecovirimat
- Brincidofovir
- Cidofovir

By Route of Administration:

Oral
Injectable

By Distribution Channel:

Retail Pharmacies
Hospital Pharmacies
Online Pharmacies

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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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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Metal Stampings Market Value Soaring at USD 635.8 billion by 2033

Metal stampings, those meticulously formed metal pieces, are the building blocks for countless products across various industries. The metal stamping market, driven by their versatility and efficiency, is experiencing steady growth. Let’s delve into the diverse applications of metal stampings and explore the exciting opportunities shaping this market.

Taking Shape Across Industries: Applications of Metal Stampings

Metal stampings offer a cost-effective and high-volume manufacturing solution for a wide range of components:

Automotive: From car body parts like fenders and hoods to intricate engine components and brackets, metal stampings are a mainstay in the automotive industry.
Electronics: Metal stampings form the chassis, heat sinks, and EMI/RFI shielding components that house and protect delicate electronic circuitry.
Appliances: Durable and functional parts like washing machine agitators, oven racks, and refrigerator shelves are often precisely stamped from metal sheets.
Construction: Metal stampings find use in building components like HVAC ductwork, roofing panels, and structural supports for walls and ceilings.
Consumer Goods: From computer casings and tool components to bottle caps and cookware, metal stampings contribute to the functionality and aesthetics of countless consumer products.

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A Market Stamped with Growth: Opportunities on the Horizon

The metal stamping market is experiencing a boom driven by several key trends:

Rise of Automation: Increased automation in manufacturing processes necessitates high-precision and consistent metal parts, which metal stamping excels at producing.
Demand for Lightweight Materials: The growing demand for lightweight vehicles and fuel-efficient products creates a need for lighter yet robust metal components that metal stamping can deliver.
Focus on Miniaturization: As electronic devices and components continue to shrink, metal stamping technology allows for the creation of intricate and precise metal parts.
Growing Demand in Emerging Markets: The expanding manufacturing base in developing economies creates a significant demand for cost-effective and versatile metal stamping solutions.
Advancements in Metal Stamping Technology: Developments in high-speed stamping presses, laser cutting integration, and innovative die designs are leading to faster production times, increased efficiency, and more complex part geometries.

The Metal Stampings Market size is projected to be worth USD 419.7 Billion in 2023. The market is likely to surpass USD 635.8 Billion by 2033. According to Future Market Insights (FMI), the market is further expected to surge at a CAGR of 4.2% during the forecast period.

Challenges and Considerations

The metal stamping market also faces some challenges:

Fluctuations in Metal Prices: The global metal market is susceptible to price fluctuations based on raw material costs and demand, impacting production costs for stamped parts.
Tooling Costs: The upfront investment in high-quality stamping dies can be significant, especially for complex parts, which may deter smaller manufacturers.
Environmental Regulations: Metal stamping processes generate scrap metal and require proper waste management strategies to comply with environmental regulations.

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Shape Memory Polymer Market Poised for Explosive Growth: 23% CAGR Expected to Reach USD 3.5 Billion by 2032

The market for shape memory polymer will expand at a rate of 23% CAGR, totaling around USD 3.5 Billion by 2032. The market is anticipated to be worth USD 450.4 million in 2022.

Shape memory polymers are smart materials that can change their shape in response to external stimuli. The materials find extensive use in automotive, biomedical and aerospace industry. Biomedical industry is a key end-user of SMPs as they are employed in producing a plethora of diagnostic and surgical devices such as catheters, sutures, stents, braces, splints, prosthetics and grafts. Thus shape memory polymers (SMPs), as stimuli-responsive materials, have garnered worldwide fame.

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Shape memory polymers are also intensively found in the construction industry and find use as self-healing materials in sensors or actuators or structural health monitors and vibration control systems. Their use in kinetic buildings will also hold significance to the industry. This, more so when the government is promoting an eco-friendly zone and green buildings to lower the carbon footprint and protect the environment.

Key Takeaways from the Market Study

By application, research & development to be dominant category, reaching US$ 2 Billion by 2032
Shape memory polymers to be used extensively by automotive manufacturers, registering a 21% CAGR
By material, polyurethane shape memory polymers to accumulate 38% revenue in 2022
North America to emerge as the fastest growing market, clocking a CAGR of 26%
Latin America market is likely to experience a growth rate of over 10% by 2032
Asia Pacific to attract considerable investments, reaching a value of US$ 540 Million by 2032

“With continued attraction for shape memory polymer product in end-user industries such as healthcare, biomedical, construction, automotive textile and aerospace, for changing contours dictated by random needs, and in a spate of lesser known applications, the product is poised to achieve growing market share in forthcoming years”, remarks the FMI Analyst.

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Competitive Landscape

The global shape-memory polymer market is fairly consolidated as the majority of the market share is divided among few players.

Asahi Kasei Corp. produces fiber products, chemicals, and electronic related materialsbased on its core discipline of chemistry, and globally pursues growth opportunities in the areas where they can leverage their technological expertise.
Covestro AG is a German company which produces a variety of polyurethane and polycarbonate based raw materials. Products include isocyanates and polyols for cellular foams, thermoplastic polyurethane and polycarbonate pellets, and polyurethane based additives used in the formulation of coatings and adhesives. It is a Bayer offshoot formed in the fall of 2015 and was formerly called Bayer Material Science, Bayer’s materials science division.

Some of the key players in the market include

Nanoshell LLC
Asahi Kasei Corporation
Lubrizol Corporation
Cornerstone Research Group
MedShape Inc.
Covestro AG

About Future Market Insights (FMI)

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

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Global Nasal Polyposis Treatment Market Poised for Significant Growth, Projected to Reach USD 8.8 Billion by 2033

The global nasal polyposis treatment market is on a robust growth trajectory, expected to achieve a valuation of USD 4.6 billion by the end of 2023. Driven by advancements in medical technology and increasing prevalence of chronic rhinosinusitis with nasal polyps, the market is anticipated to expand at a compound annual growth rate (CAGR) of 6.7% over the next decade. By the end of the forecast period in 2033, the market is projected to reach an impressive USD 8.8 billion.

The rising incidence of chronic rhinosinusitis with nasal polyps, particularly among the elderly population, is a significant factor propelling the growth of the nasal polyposis treatment market. This condition, characterized by prolonged inflammation of the sinuses, often leads to the development of nasal polyps, which are non-cancerous growths that can cause considerable discomfort and impair breathing.

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Additionally, the surge in inflammatory diseases globally is contributing to the increasing demand for effective nasal polyposis treatments. As the prevalence of these conditions rises, so does the need for innovative and efficient treatment options.

Technological advancements in the removal of nasal polyps have also played a crucial role in market expansion. Enhanced surgical techniques and the development of novel therapeutic treatments are providing better outcomes for patients, thereby boosting market growth. Increased investment in research and development is expected to yield new and more effective therapies for nasal polyps, further driving the market forward.

The nasal polyposis treatment market is set to undergo significant transformation over the coming years, fueled by these advancements and the growing demand for effective treatments. Stakeholders and investors in the healthcare sector can expect substantial opportunities as the market evolves.

Key Takeaways from the Market Study:

Global nasal polyposis treatment market to expand nearly 2x from 2023 to 2033
Corticosteroids account for 55% of all nasal polyposis treatment types, expanding at a 9% CAGR
More than 3 out of 5 nasal polyposis treatment procedures occur in hospitals
North America to be an emerging hub for treating nasal polyposis, accumulating a 41.5% revenue share
Asia Pacific to experience noteworthy investments, expected to clock a CAGR of 7% until 2033

“Rapid product approvals, innovation of effective drugs, and surging research and development activities will bolster the market growth of Nasal Polyposis treatment”, comments an FMI analyst.

Competitive Landscape:

The Nasal Polyps Treatment Market is competitive and consists of several major players. Major players are creating novel delivery systems for the treatment of nasal polyps. This is expected to propel nasal polyposis treatment market. The major players in the market are:

Sanofi S.A
Merck & Co. Inc.
OptiNose USA Inc.
Intersect ENT Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
GSK plc.
F. Hoffmann- La Roche Ltd.
Teva Pharmaceutical Industries Inc.
Novartis AG

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Some Recent Developments In The Market Are As Follows:

In July 2021, GlaxoSmithKline plc. (GSK) declared that Nucala (Mepolizumab) is approved by United states FDA for chronic bilateral nasal polyposis related with chronic rhinosinusitis
GSK Investigational Site Boise, Idaho, United states is working on a study to determine effectiveness and safety of Depemokimab (GSK3511294) in patients suffering from chronic rhinosinusitis with nasal polyposis. It is presently doing phase 3 trial and will complete this study by January 2025.
In 2020, the United States Food and Drug Administration approved authorised use of Dupixent for adults with nasal polyps accompanied by chronic rhinosinusitis. It is the first treatment approved for uncontrolled chronic rhinosinusitis with nasal polyps and also reduces dependence on nasal polyp surgery and oral steroids.
In 2020, Roche Holding AG, a pharmaceutical company, had successfully completed and declared the positive result from two Phase III multicenter studies evaluating Xolair for the treatment of adults with chronic rhinosinusitis with nasal polyposis.

Key Segments Profiled in the Nasal Polyposis Treatment Industry Survey:

By Type of Treatment:

Pharmacological Therapies
- Corticosteroids
- Antibiotics
- Leukotriene Inhibitors
- Others
Surgeries
- Polypectomy
- Functional Endoscopic Sinus Surgery

By End User:

Hospitals
Ambulatory Surgical Centers
Specialty Clinics

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Anhydrous Hydrogen Fluoride Market Poised for 5.8% CAGR Growth: Driven by Electronics and Automotive Boom

The market for anhydrous hydrogen fluoride is expected to grow from USD 3.07 billion in 2022 to USD 3.25 billion in 2023. From 2023 to 2033, the market is projected to grow at a 5.8% CAGR, reaching a value of USD 5.7 billion by the end of that year. Over the anticipated period, rising consumer demand for products like air conditioners, cars, electronics, and refrigerator gas is anticipated to drive market growth. Demand for the product is also expected to be driven by the region’s growing chemical industry, which is also expected to fuel a number of mergers and acquisitions, expansion of manufacturing facilities, and subsidiaries.

Fluorspar is the main raw material used to make anhydrous hydrogen fluoride. According to the national renewable energy laboratory, China mines more acid-grade fluorspar than any other country in the world, amounting to 2,500 kilotons each year (USGS 2017). The following two largest producers of acid-grade fluorspar are South Africa and Mexico, with each country producing around 600 kilotons annually (150 kilotons).

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Anhydrous hydrogen fluoride is one of the fastest-growing markets in the world as a result of the quick development of the chemical and consumer products sectors. Additionally, due to the region’s developing chemical manufacturing industry, demand has increased in North America, while it has increased in Asia Pacific for fluorine compounds used in metallurgical and metal extraction applications. The anhydrous hydrogen fluoride market is expected to grow as a result of the extensive use of fluorogases in the manufacturing of HFCs, CFCs, and HCFCs for use in HVAC systems, self-chilling beverage cans, defrost systems, refrigeration equipment, and other applications. The predominant technology for mobile refrigeration and air conditioning, as well as for commercial and residential applications, is vapor compression systems.

Key Takeaways from the Market Study

During the historical period of 2018-2022, the anhydrous hydrogen fluoride market grew at a CAGR of 3.7 %.
The global anhydrous hydrogen fluoride market is predicted to rise with a steady 5.8% CAGR during 2023-2033.
The global anhydrous hydrogen fluoride market is currently worth more than US$ 3.2 Billion.
The fluoropolymers segment will be the fastest growing segment during the forecast period with a 5.7% CAGR.
In 2023, the fluorogases application category is anticipated to dominate with a 64% revenue share.
The North American region is predicted to grow with a steady CAGR of 6.1% during 2023-2033.
The APAC anhydrous hydrogen fluoride market is expected to grow with a steady CAGR of 5.6% during 2023-2033.

“Anhydrous hydrogen fluoride is now more in demand than ever before since it is a necessary ingredient in the production of several fluorine-containing compounds. These chemicals are used in a wide range of items, including kitchenware and automobiles, thus in the upcoming years, they are anticipated to have substantial expansion.” comments a Future Market Insights analyst.

Competitive Landscape

Honeywell International Inc., Solvay, Linde plc, Arkema, Lanxess, Navin Fluorine International Limited, Fubao Group, Foosung, Co Ltd, Fluorchemie Dohna GmbH, Fluorsid S.p.A., and Derivados del Fluor SA. are a few of the well-known companies in the worldwide market for treating malaria.

In 2020, Arkema announced a unique and long-term collaboration with Nutrien Ltd, the world’s largest integrated agricultural enterprise, for the delivery of anhydrous hydrogen fluoride to Arkema’s Calvert City (KY) plant. In comparison to more traditional production techniques, it offered more environmental protection and promoted the growth of fluoropolymers in the profitable areas of water treatment, electronics, and batteries.
In 2022, Honeywell committed to developing tech-driven solutions for the delivery of healthcare. With the potential for future local and international cooperation, Honeywell signed Memorandums of Understanding (MOUs) with two of the major healthcare organizations. This builds on Honeywell’s considerable expertise in the hospital setting.

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More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the anhydrous hydrogen fluoride market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the market on the basis of anhydrous hydrogen fluoride market by application (fluoropolymers, fluoro gasses, pesticides) and regions.

About Future Market Insights (FMI)

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

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Cleanroom Flooring Market to Boom at 6.5% CAGR: Driven by Healthcare, Electronics, and Technology Advancements

According to a recent FMI study, the cleanroom flooring market is expected to grow at a compound annual growth rate (CAGR) of 6.5% between 2023 and 2033. It is anticipated that the market will be valued at USD 4300 million by the end of forecast period.

Cleanroom flooring market growth is being driven by stricter healthcare regulations, rigid standards, and consumer demand for high-quality products, an increase in the frequency and public awareness of infectious and contagious diseases, an increase in the need for drugs and vaccines, and expanding healthcare infrastructure.

Additionally, the growing global usage of consumer electronics gadgets is pushing semiconductor demand. Furthermore, the rise of the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) is providing prospects for growth in the semiconductor business, assisting memory chips in processing enormous volumes of data in less time. Because of the sensitivity of technical processes, nanotechnology and semiconductor facilities must be free of dust and particles.These facilities’ floor finishes feature a floor-to-wall cove base with no grout lines or tile edges, resulting in a dust-free environment. These elements are propelling the segment’s market.

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In conclusion, the growing need for improved and quicker memory chips in commercial applications is driving development in the semiconductor industry.

Key Takeaways from the Market Study

FMI projects the global cleanroom flooring market to expand at a 6.5% value CAGR by 2033
The global cleanroom flooring market is estimated at a market value of US$ 2300 Billion
The global cleanroom flooring market is expected to garner a market value of US$ 4300 Billion
North America is forecast to be the most lucrative for cleanroom flooring market growth.
As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 5.9% in the assessment period 2023-2033.
As per Future Market Insights, Europe is expected to grow at a CAGR of 6.1% in the assessment period 2023-2033.
The epoxy coatings category is expected to hold the largest market share for cleanroom flooring in the forecast period 2023-2033.

“North America is seeing an upsurge in contributions from government agencies and private groups to fund small businesses’ R&D operations. State-level initiatives are also underway, with the goal of increasing demand for cleanroom flooring.” says an analyst at FMI

Market Competition

Key players in the cleanroom flooring market are Gerflor SAS, Easypharma SRL, Lindner AG, Forbo Flooring India Pvt Ltd., and Polyflor Ltd.

Recent Developments:

In November 2022, as part of the VDMA Circular Economy Forum, recycling specialist Lindner displayed all-in-one solutions for effective plastics recycling at K 2022 in Dusseldorf. Different post-consumer stiff plastics were shredded live – and for the first time, wet cleaned – in three daily demos. Another first was achieved in collaboration with Engel: shredded hard plastics were injection moulded and transformed straight into new pallets on site.

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More Insights Available

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

The study reveals essential insights on the basis of Type (Epoxy Coatings, Urethane, Vinyl & Rubber Flooring, Methyl Methacrylate flooring, and others) and by Application (Pharmaceutical & Medical Device Manufacturing, Nanotechnology & Semiconductor, Laboratory Research, and Others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

About Future Market Insights (FMI)

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

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Global Canned Salmon Market Forecasted to Reach USD 9.2 Billion by 2032: Investing in Nutrient-Rich Food Trends

The global canned salmon market is on track to witness remarkable growth, with a projected valuation of USD 9.2 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 6.8%. This surge in market value presents promising opportunities for investors seeking to capitalize on the growing demand for nutrient-rich and versatile food options in the B2B industry growth sector.

Canned salmon has emerged as a popular choice among consumers seeking convenient, nutritious, and shelf-stable food options. Rich in essential nutrients such as protein, vitamin B-12, and omega-3 fatty acids, canned salmon offers numerous health benefits, driving its increasing consumption worldwide.

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Consumers’ growing preference for nutrient-dense foods and the convenience offered by canned salmon have fueled demand, leading to a significant market expansion. The market is projected to account for approximately 12% of the total salmon market share by 2022, with sales expected to accelerate at a CAGR of 6.8% from 2022 to 2032.

Key Takeaways:

Based on source, sales in the farmed fish segment will increase at a 5.6% CAGR over the forecast period.
In terms of species, demand for pacific species will grow at a 6.9% CAGR through 2032.
By sales channel, the indirect segment is projected to expand at a 7% CAGR over the forecast period.
Total sales of canned salmon in the U.S. market will reach a valuation of US$ 775.8 Mn in 2022.
Thailand will emerge as a lucrative pocket, accounting for 30% of the South Asia canned salmon market share in 2022.

Key Factors in the canned salmon market:

Canned salmon offers essential nutrients such as protein, vitamin B-12, and omega-3 fatty acids, appealing to health-conscious consumers seeking nutrient-rich food options.
Canned salmon’s versatility in various culinary preparations and its convenience as a ready-to-eat food product drive its increasing consumption among consumers worldwide.
Manufacturers are innovating with novel product offerings, flavors, and packaging to cater to diverse consumer preferences, driving market expansion and growth.

Competitive Landscape

Key canned salmon producers are working on research and development in order to offer a variety of goods that do not include any chemical additives. To enter untapped market, leading players are partnering and developing new product lines. For instance:

Thai Union Group plans to launch Plant based products comprising both seafood and non-seafood in Asia Pacific region in 2021.
Subsidiary of Thai Union Group, John West Foods Ltd. has unveiled a Salmon Fridge Pot in 2021 in a bid to attract younger consumers and make the tinned salmon category more relevant to consumers.

Canned Salmon Market By Category

By Source:

Wild
Farmed

By Species:

Atlantic
Pacific
- Pink
- Sockeye
- Coho
- Chum
- Chinook

By Form:

Skinless Boneless
Chunks
Fillets

By Category:

Smoked Fish- In Oil/ Deep Fried
Smoked Fish- Steamed
Conventional/ Traditional

By Sales Channel:

Direct Sales
Indirect Sales
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats

Country-wise Analysis of the Canned Salmon Market:

USA Canned Salmon Market: The USA emerges as a key market for canned salmon, with sales expected to reach approximately US$ 775.8 million in 2022, representing around 16% of the global market. Factors such as the health benefits associated with canned salmon consumption, convenience, extended shelf life, and employment opportunities in the cannery industry contribute to market growth in the USA.

Thailand Canned Salmon Market: Thailand presents lucrative opportunities for the canned salmon market, with demand expected to reach US$ 142.8 million in 2022, accounting for approximately 30% of the South Asia market. Rising consumption of canned salmon, particularly wild salmon, and the emergence of plant-based seafood alternatives are driving market growth in Thailand and across the Asia Pacific region.

About Future Market Insights (FMI)

Contact FMI:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Phthalate and Non-Phthalate Plasticizers Gain Traction: Health & Environment Concerns Drive Market Growth

Phthalate and Non-Phthalate Plasticizers Market

According to estimates, the worldwide market for phthalate and non-phthalate plasticizers will grow from USD 14,432.6 million in 2023 to USD 22,968.9 million in 2033. Through 2033, the market’s overall sales are projected to grow at a 4.8% CAGR.

Rapid adoption of phthalate and non-phthalate plasticizers across various industries will continue to drive the global market forward.

The shift towards bio-based plasticizers is emerging as a key trend that will bolster sales during the projection period.

Traditional phthalate plasticizers have been linked to negative health effects and environmental concerns. Hence, non-toxic alternatives that are sustainable and safer for human health & the environment such as non-phthalate plasticizers are coming into spotlight.

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Increasing demand for non-phthalate plasticizers from automotive, aerospace, and building & construction industries will boost the market during the forecast period.

Rising trend of lightweight vehicles and energy-efficient buildings will play a key role in uplifting product demand through 2033. Plasticizers are commonly used to improve the flexibility, durability, and workability of plastics, which are widely used in the automotive and building industries.

The trend towards lightweight vehicles and energy-efficient buildings is driving demand for plasticizers. This is because manufacturers seek to create more flexible, durable, and high-performance materials that can meet the changing needs of these industries.

Increasing adoption of medical devices presents an opportunity for non-phthalate plasticizers. This is because of the potential health risks associated with phthalate plasticizers.

Non-phthalate plasticizers are now being used in a wide range of medical devices, including IV bags, tubing, and other flexible plastic components. These plasticizers offer several advantages, including better compatibility with certain polymers, improved flexibility, and reduced leaching into the surrounding environment.

Key Takeaways from the Market:

The global phthalate and non-phthalate plasticizers market will reach around US$ 22,968.9 million by 2033
Global sales of phthalate and non-phthalate plasticizers are projected to rise at 8% through 2033.
By product type, non-phthalate plasticizers segment is forecast to expand at a CAGR of around 3%.
Based on application, cables & wires segment is likely to exhibit a CAGR of 5% from 2023 to 2033.
China phthalate and non-phthalate plasticizers market value is estimated to reach US$ 7,805.8 million by 2033.
Phthalate and non-phthalate plasticizer demand in India is projected to increase at around 4% CAGR through 2033.
BASF SE, Exxon Mobil Corporation, Eastman Chemical Company, Lanxess AG, and Evonik Industries AG are the top players, accounting for a share of nearly 20% in the global market.

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“Growing demand for non-toxic plasticizers and increasing demand from medical industry are key factors driving growth in this market. Manufacturers are likely to find lucrative opportunities for non-phthalate plasticizers that are sustainable, light-weight, durable and cost-effective. This is because such products would find widespread use across numerous industries like automotive and construction..” says a lead FMI analyst.

Who is Winning?

BASF SE, Exxon Mobil Corporation, Evonik Industries AG, Eastman Chemical Company, Lanxess AG, Hanwha Group, Sasol Ltd., Hallstar, Aarti Industries, New Japan Chemical Co., Ltd., Bluesail Group, Henan Qing’an Chemical Hi-Tech Co., Ltd., Polynt S.p.A., Aekyung Chemical Co. Ltd., UPC Technology Corporation, KLJ Group, Shandong Hongxin Chemicals Co., Ltd., LG Chem, Perstorp Holding AB, and others are few of the leading manufacturers of phthalate and non-phthalate plasticizers profiled in the full version of the report.

Key players are focusing on expanding their production capacity to increase their market presence. To secure long-term demand, top players are also entering into long-term supply agreements with key industries. Companies are also concentrating on establishing new facilities to meet rising demand from various industries.

For instance,

In July 2022, Polynt Group announced that the company will build a new plant for its trimellitates plasticizer in Mexico. The mechanical completion of the plant will end by the end of 2023 and the plant will run to its full capacity in the first quarter of 2024.

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Global Phthalate and Non-phthalate Plasticizers Market Segmentation

By Product Type:

Phthalate Plasticizers
- Dioctyl and Diethylhexyl Phthalate
- Diisononyl Phthalate
- Diisodecyl Phthalate
- Di (2-Propylheptyl) Phthalate
- Butyl Benzyl Phthalate
- Di Ethyl Phthalate
- Di Methyl Phthalate
- Di Butytl Phthalate
- Others
Non-Phthalate Plasticizers
- Adipates
- Terephthalates
- Trimellitates
- Epoxies
- Benzoates
- Aliphatics
- Citrates
- Cyclohexanoate
- Di Octyl Adipate
- Tri Ethyl Citrate
- Tri Ethyl Citrate

By Applications:

Wire and Cables
Flooring and Wall Coverings
Coatings
Films and Sheets
Consumer and Industrial Goods
Upholstery
Medical Products
Others

By End-use Industry:

Healthcare
Aerospace
Automotive
Building and Construction
Food and Beverage
Electrical and Electronics
Consumer Goods
Others

About Future Market Insights (FMI)

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

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Global Sodium Citrate Dihydrate Market Set to Grow at Over 3% CAGR, Driven by Demand for Processed Foods

The global sodium citrate dihydrate market is poised for steady growth in the coming years, with a projected Compound Annual Growth Rate (CAGR) of over 3% during the forecast period. This growth trajectory is attributed to the increasing demand for processed food and beverages, which rely on food additives like sodium citrate dihydrate for stability and flavor enhancement.

Sodium citrate dihydrate, a common food additive, plays a crucial role in the food industry, particularly in processed foods and beverages. Its ability to act as a stabilizer and flavor enhancer makes it a vital ingredient in a wide range of products.

“The market for sodium citrate dihydrate is experiencing growth due to the rising consumption of convenience foods and beverages,” stated by Nandini Roy Choudhury, Client Partner at Future Market Insights. “As consumers seek convenient meal options, the demand for processed food products, which often contain sodium citrate dihydrate, is on the rise.”

While the market shows promise, concerns regarding the use of chemical additives in food and beverages may pose challenges to market expansion. Consumers are increasingly mindful of their health and are seeking products with natural ingredients, which could impact the demand for sodium citrate dihydrate in the long term.

Despite these challenges, the sodium citrate dihydrate market is expected to witness steady growth, driven by the ongoing trend of convenience food consumption and the continued demand for processed food and beverages worldwide.

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Sodium citrate dihydrate (C6H5Na3O7-2H2O), also known as citric trisodium salt dihydrate, or trisodium citrate dehydrate is obtained from citric acid and is available in granular or powder form having a salty but pleasant taste. Sodium citrate dihydrate is odorless and freely soluble in water, marginally deliquescent in moist air, and insoluble in alcohol. It is prepared by completely neutralizing citric acid with high purity sodium hydroxide or carbonate followed by crystallization.

Sodium citrate dihydrate is a non-toxic, neutral salt having low reactivity. It shows chemically stability when stored at ambient temperatures. Sodium citrate dihydrate is totally biodegradable and disposable with the regular waste or sewage. It is widely used in the food industry in preservatives, and as a flavoring agent.

According to the FDA Select Committee, sodium citrate are regarded as safe when used in normal quantities. In the pharmaceutical industry, it is used to resist changes in the pH. Sodium citrate dihydrate also finds its use as a buffering agent, alkalizing agent, emulsifying agent, or sequestering agent.

Global Sodium Citrate Dihydrate Market: Segmentation

Global sodium citrate dihydrate market is segmented into types, forms, functions, applications, manufacturing methods, and region. Types of sodium citrate dehydrate can be segmented into monosodium citrate, disodium citrate, and trisodium citrate. The global sodium citrate dihydrate market can be segmented on the basis of form into granular and crystals.

Functions include regulation of pH, chelating agent, buffering agent, flavor enhancer, and emulsifying agent. Application types include food and beverage industry, cleaners and detergents, industrial applications and healthcare industry.

Global sodium citrate dihydrate market is also segmented on the basis of manufacturing methods. Region-wise, global sodium citrate dihydrate market is segmented into North America, Latin America, Europe, Asia-Pacific and MEA.

Global Sodium Citrate Dihydrate Market: Region-wise Outlook

The global sodium citrate dihydrate market is expected to witness a considerable growth in CAGR between 2015 and 2025. Owing to number of favorable conditions, the focus of the major chemical companies is gradually shifting towards the growing economies.

China has graduated to become the largest base for producing chemicals worldwide in terms of capacity and output. Reason being the cost benefits over the western countries in terms of production of chemical products and a high demand within the country. Moreover, the licensing procedures are comparatively shorter and the construction costs being lower than in Europe.

Global Sodium Citrate Dihydrate Market: Drivers & Restraints

Seasonal factors for beverages and new detergent applications are the principal growth drivers for the global sodium citrate dihydrate market. Fluctuations in the raw materials prices hinders the steady growth of the global sodium citrate dihydrate market.

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Global Sodium Citrate Dihydrate Market: Key Players

Archer Daniels Midland Co.
American Tartaric Products Inc.
Cargill Incorporated
Gadot Biochemical Industries Ltd.
Citrique Belge
Jungbunzlauer
Foodchem International Corporation
Thai Citric Acid Co.,Ltd.
Huangshi Xinghua Biochemical Co.,Ltd.
RZBC Group
Shandong TTCA Co., Ltd.
Weifang Ensign Industry Co. Ltd

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Current-carrying Wiring Devices Market worth USD 103.5 billion by 2033

Current-carrying wiring devices are the silent partners behind the scenes, ensuring the smooth flow of electricity in homes, businesses, and industries. This market, dominated by these essential components, is experiencing steady growth driven by several key factors. Let’s explore the diverse applications of current-carrying wiring devices and delve into the trends propelling this market forward.

Connecting the Flow: Applications of Current-Carrying Wiring Devices

Current-carrying wiring devices encompass a wide range of products that manage and distribute electricity:

Switches: These control the flow of electricity to lights, appliances, and outlets, offering on/off functionality and forming the backbone of electrical control in buildings.
Receptacles (Outlets): These provide connection points for plugging in electrical devices, powering everything from lamps and electronics to kitchen appliances and machinery.
Circuit Breakers: These act as safety devices, automatically interrupting the flow of electricity in case of overload or short circuits, protecting electrical circuits from damage.
Dimmers: These allow for adjusting the brightness of lighting fixtures, creating desired ambiance and potentially reducing energy consumption.
Ground Fault Circuit Interrupters (GFCIs): These life-saving devices protect against electrical shock in areas with potential moisture exposure, such as kitchens and bathrooms.

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A Market Charged with Growth: Factors Driving Expansion

The current-carrying wiring devices market is experiencing growth fueled by several key trends:

Rising Construction Activity: Increased investments in residential and commercial construction projects globally create a demand for new electrical wiring systems and their associated devices.
Urbanization and Smart Homes: The growing trend towards urbanization and the rise of smart homes equipped with advanced lighting and appliance control systems drive the demand for sophisticated wiring devices.
Focus on Safety and Regulations: Stringent electrical safety regulations and a growing emphasis on fire prevention necessitate the use of high-quality and reliable current-carrying wiring devices.
Energy Efficiency Initiatives: Developments in energy-efficient lighting solutions and smart controls for appliances create a demand for compatible wiring devices that support these initiatives.
Renovation and Retrofitting Projects: As existing buildings undergo renovations or upgrades, the need for replacing outdated wiring devices with newer, more efficient models presents a significant market opportunity.

According to a Future Market Insights (FMI) report, the global current-carrying wiring devices market value is expected to increase from USD 49.2 billion in 2023 to USD 103.5 billion by 2033. Over the assessment period from 2023 to 2033, global sales of current-carrying wiring devices are likely to rise at a CAGR of 7.7%.

The future of the worldwide current-carrying wiring devices industry looks bright with rising applications in residential and commercial sectors. The target market is anticipated to generate an absolute $ opportunity of USD 54.3 billion through 2033.

Challenges and Considerations

The current-carrying wiring devices market also faces some challenges:

Standardization and Compatibility: Ensuring compatibility between devices from different manufacturers and compliance with regional and international electrical safety standards is crucial.
Counterfeiting Concerns: The presence of counterfeit wiring devices that compromise safety and performance necessitates robust quality control measures and consumer awareness campaigns.
Skilled Workforce: Proper installation, maintenance, and testing of electrical wiring devices require a skilled workforce with knowledge of electrical codes and safety protocols.

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