Market Research Blog – Page 3057 – New Product Development

Hydrogen Buses Market Set to Soar with 31% CAGR, Valued at US$ 12.6 Billion by 2033

The Hydrogen Buses Market is predicted to grow at an astronomical CAGR of 67% over the forecast period, according to research by Future Market Insights. The industry’s estimated value is expected to increase from US$ 8.45 Billion in 2023 to US$ 1426.68 Billion by 2033.

The market for hydrogen buses is primarily being boosted by surging concerns over depleting natural resources and degrading environmental conditions. This has propelled the introduction of technologies that encourage the concept of eco-friendly transportation means to sustain the ecosystem.

Additionally, the increase in the number of people perturbed by the harmful effects of air pollution, rising levels of traffic as well as GHG emissions are accelerating the adoption of hydrogen fuel cell buses. These buses, unlike conventional modes of transportation like gasoline and diesel-powered vehicles, are eco-friendly in nature and offer a sustainable transport option.

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The market is witnessing significant impacts of technological upgrades taking place in hydrogen-powered vehicles, which is widening the scope of hydrogen-powered buses for the forecast period. The hydrogen-backed buses market is predicted to enjoy several opportunities to realize its potential over the anticipated time period. Further, the increasing investments in the infrastructure for hydrogen fuel cell buses and their related charging stations are projected to incite market development in the coming years.

In the U.S., California provided funds for the production of 100 refuelling stations for hydrogen-powered vehicles to achieve its goal of 1.5 Mn zero-emission Automotives by 2025 end. Similar policies deployed by several governments across the globe to encourage environmental health and safety is expected to facilitate the adoption of hydrogen buses over the forecast period.

Key Takeaways from the Hydrogen Buses Industry

German hydrogen buses market is projected to substantially contribute towards Europe’s leading position on a global scale. The rising influx of hydrogen fuel cell buses in the country is accelerating the transition towards the green economy.
The North American hydrogen buses market holds a significant market share. Rising initiatives by private companies and government bodies to foster the growth of emission-free vehicles in the region are propelling the market development of hydrogen-powered buses.
In emerging countries like India, the escalating pollution levels and growing concerns related to health issues caused by the inhalation of polluted air are driving the demand for hydrogen buses.
In China, the Beijing Winter Olympics 2022 witnessed the circulation of 800+ hydrogen fuel cell buses. The rising production and sales of hydrogen buses in the country are predicted to catalyze market growth.
The increasing operation of eco-friendly hydrogen-powered buses in South Korea is stimulating market growth in the country. Additionally, the rising government initiatives to promote the adoption of hydrogen buses are also enhancing the market scope of these buses.

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Growing Significance of Eco-friendly Mobility Presents Opportunities for Hydrogen Buses Operators

Companies operating in the hydrogen buses market are launching new models of hydrogen buses, keeping in mind their practicality and relevancy. Additionally, active measures to develop infrastructure for hydrogen fuel cell busare is projected to create favourable market conditions for the industry players in the near future. The increasing efforts to commercialize hydrogen fuel cell buses, especially in Europe, is expected to raise the operation of hydrogen buses.

Following companies provide hydrogen buses in the market, as identified by FMI:

Tata Motors Limited
Thor Industries
Hyundai
Ballard Power Systems
NovaBus Corporation
New Flyer Industries Ltd
EvoBus
New Flyer
Hino Motors Ltd.
SunLine Transit Agency

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Hydrogen Buses Industry Segmentation by Category

By Technology:

Proton Exchange Membrane Fuel Cells
Direct Methanol Fuel Cells
Phosphoric Acid Fuel Cells
Zinc-Air Fuel Cells
Solid Oxide Fuel Cells

By Power Output:

<150 kW
150–250 kW
>250 kW

By Transit Bus Models:

30-Foot Transit Buses
40-Foot Transit Buses
60-Foot Transit Buses

By Region:

North America
Latin America
Asia Pacific
Eastern Europe
Western Europe
Japan

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.

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Fire Trucks Industry Share

Automotive Sunroof Industry

Automotive Fasteners Industry

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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Railway Generator Market Set to Surpass US$ 3,257.4 Million by 2033 with a Steady 5.0% CAGR

The railway generators market size is likely to thrive at an average CAGR of 5% during the forecast period. The market is anticipated to cross a market share of US$ 3,257.4 Million by 2033 while it holds a value of US$ 1,999.8 Million in 2023.

Steady growth of the railway generator market is attributed to three major factors: The transformation of railway systems around the world. New railway systems set up in rural spaces for expanded connectivity, and sustainable & efficient energy-delivering generators.
The more connected world demands better and faster rail connectivity. The adoption of new and advanced generators helps trains with higher power delivery. This pushes the sales of EOG and battery-based generator cars.
The new locomotive systems integrating with the power delivery systems have fueled the higher adoption of advanced railway generators to produce electricity for AC coaches.
The lack of resources and funds to transform the whole railway system with the latest railway generator technology shrinks the market space globally.

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Key Points

The US holds a market share of 19.4% in the global market, owing to the higher government investments in railways and transforming railway bboundaries
Germany holds the market share of 6% for the railway generators market attributed to its higher tourist footfall and new extensions.
The developing railway infrastructure, and efficient generator technology along with the advent of new train routes in India and China thrive market growth. Both thrive at a CAGR of 6% and 5.5% respectively. India adoptsthe new HOG and EOGtechnologyy for higher sustainability and minimum fuel consumption.
The freight wagon segment holds a market share of 62.9% in the global market due to the proliferation of logistical operations along with its easy integration with modern generators.

Competitive Landscape

The competitors focus on creating advanced generators with better power delivery along with the efficient consumption of resources. Companies also make these generators reliable so that they can work for long hours and have a higher shelf-life. Furthermore, the key players adopt the strategy of acquisition, merger, and other expansionist tricks to strengthen their supply chain.

Key players in the market include Jenoptik, Nidec Generator Corporation, General Electric (the U.S.), Sulzer Ltd, ENGIRO GMBH , and Bharat Heavy Electricals Limited, ABB (Switzerland), Ingeteam Traction Systems, VEM Group , Kirloskar Electric Compan, and Swiger Coil Systems.

Recent Market Developments

Jenoptik systems along with its technological component have launched its new product of air-cooled alternators and integrated started generator (ISG) that is easy to integrate and provides low life-cycle-costs, and high energy-efficiency.
ABB has launched the high-performance WGX generator family that covers power from 1 to more than 3 kW while offering high efficiency of 96.9%.

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Railway generators Market by Category

By Generator Type, Railway Generators Market is segmented as:

AC Traction
DC Traction

By Power Rating, Railway Generators Market is segmented as:

Less than 500 kW
Between 500 kkW, 1000 kW
1000 kW and 2000 kW
2000 kW and Above

By Application, Railway Generators Market is segmented as:

Passenger Cars
Freight Wagons

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Train Seat Market

Automotive Suspension Systems Market

Automotive Engine Valve Market

Author

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.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Automotive Glass Market Size is estimated to capture a valuation of US$ 3.85 billion in 2023 and is projected to rise to US$ 5.70 billion by 2033.

Windscreen Adhesives Market Share is projected to be worth US$ 2.8 billion in 2023. The market is likely to surpass US$ 5.5 billion by 2033 at a CAGR of 7.8% during the forecast period.

ASEAN Automotive Aftermarket Demand is expected to expand its roots at a steady CAGR of 8.5% during the forecast period.

Automotive Engineering Services Market Trends will likely expand at a CAGR of 7.17% between 2023 and 2033, reaching US$ 3.2 billion by 2033.

Automotive Repair & Maintenance Services Market Growth is expected to attain a valuation of US$ 915.88 billion in 2023 and is projected to reach US$ 1,850 billion by 2033, registering a CAGR of 7.2%.

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Global Epoxy Curing Agent Market Soars to US$ 5,740.0 million in 2033, Fueled by Surging Demand Across Diverse Sectors

The global epoxy curing agents market is expected to witness a healthy CAGR of around 4.6% during the forecast period from 2023 to 2033. The global market is currently valued at around US$ 3,658.7 million in 2023 and is anticipated to reach a high of about US$ 5,740.0 million by the year 2033. In addition to that, epoxy-curing agents are highly employed as primers for protective coatings. According to FMI’s historical analysis, the global epoxy curing agents market grew at a CAGR of 3.7% in 2022. The growth of the market is supported by evolving trends such as the replacement of dicyandiamide curing agents have a direct impact on the dynamics of the epoxy curing agents industry.

The development of curing agents with low volatile organic compounds is anticipated to increase the demand for epoxy curing agents in the forthcoming years. Furthermore, the upsurge in the requirement from several end-use industries such as the paints & coatings industry is anticipated to bolster growth in the market along with large demand for epoxy resin-based composites in the aerospace and wind-energy industries are expected to fuel the global forum of epoxy curing agents.

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According to the experts of Future Market Insights, the global market of epoxy curing agents is expected to have healthy growth. However, it has also been revealed that after studying the market in-depth, certain prevailing elements are likely to curb the growth in the long run.

Key Takeaways

The rising shares and surging growth of the manufacturing sector, construction sector, electronics, and automotive industry are prime drivers of reshaping dynamics in the concerned market.
Due to rapid technological advancements, and increasing consumer shift towards environmentally friendly options, the new environmentally friendly epoxy curing agents extend profitable opportunities to the market players in the forecast period.
Surging demand for electronic products such as smartphones and automotive electronic equipment also increases the demand for epoxy curing agents over the projection period.
According to the research conducted by the experts of Future Market Insights, epoxy curing agents have diverse usage in multiple building and construction applications as they possess high sheer strength, coupled with better quality finish characteristics. Furthermore, rapidly changing trends like replacing dicyandiamide curing agents in the construction sector are likely to make a major contribution to driving the growth of the epoxy curing agents market during the assessment years.
Consumers are drastically shifting their preferences towards a better standard of living owing to a rise in disposable income along with a significant shift of preference within the construction industry for decorative buildings, along with increased spending by the government on sustainable construction, which is estimated to propel the sales of epoxy curing agents further amidst the period 2023-2033.
Increasing demand for adhesives from the construction industry is propelling the growth and advancements within the global epoxy curing agents market. In addition to that, demand for lighter components in the automotive industry is also known as a key demand driver over the projection years.

Competitive Landscape

The global epoxy curing agents market exhibits lucrative growth opportunities, as the market players are desperate to grab benefits out of the immense opportunities in the market. The need for improved coatings in construction activities has generated a plethora of opportunities for growth within the global epoxy curing agents market. Furthermore, the manufacture of silicone rubber also incorporates the utilization of epoxy curing agents which is one of the prominent factors bolstering growth in the market. The epoxy curing agents companies are maximizing their revenue potential by creating sustainable offerings as the sustainability trend is on the rise on a global scale.

Key Players are

BASF SE
Evonik Industries AG
Aditya Birla Corporation
Olin Corporation
Toray Fine Chemicals
Mitsubishi Chemical Corporation
Westlake Corp.
Resonac Holdings Corporation
Cardolite corporation
Atul Ltd.
Henkel Group
SABIC

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More Insights into the Epoxy Curing Agents Market

The United Kingdom is expected to dominate the European epoxy curing agents market by accounting for a robust growth of around 8% through the forecast period. The growth in the region is attributed to account for the strong presence of leading aircraft component manufacturing companies all over the country. Furthermore, a surging preference for lightweight components for manufacturing aircraft structures is propelling the adoption of epoxy-curing agents. A significant increase in the application of epoxy resins in various industries such as construction, paints, and coatings will improve the demand in the market. Favorable government policies mandating the use of eco-friendly materials are compelling end-users to adopt this product further.

Key Segments in the Epoxy Curing Agents Market

By Product:

Amines and Polyamines
Amides and Polyamides
Anhydrides
Phenolic
Others

By Application:

Paints, Coatings, and Inks
Adhesives and Sealants
Composites

By End Use:

Construction
Electrical and electronics
Power Generation
Automotive and Transportation
Marine
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 over 400 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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Global Supply Concerns: Terephthalic Aldehyde Shortage Sparks Urgent Need for Eco-Friendly Production Solutions

Terephthalic Aldehyde Market

Future Market Insights (FMI) has published a new report on terephthalic aldehyde, which has been titled, “Terephthalic Aldehyde Market: Global Industry Analysis 2013-2016 and Opportunity Assessment 2018-2028.” According to the report, the global market for terephtahlic aldehyde is on the verge of downfall owing to the amount waste water being generated from the production of only one tonne of terephthalic aldehyde.

It has been considered uneconomical by a handful of players in the market owing to its expensive nature as well as lack of proper infrastructure in order to treat colossal amount of waste water. Moreover, owing to the government regulations across the globe, the production of terephthalic aldehyde has been halted by a majority of key companies in the global marketplace.

“Even if we start producing again, we are not sure we will be able to produce the same quantity again,” states an authority at one of the leading production companies.

According to the report, the global terephthalic aldehyde market is expected to witness -3.8% CAGR from 2018 to 2028. While the market currently values worth US$ 16,129,832.3, it has been projected to go down and reach US$ 4,342,866.7 by the end of 2028. The leading companies functioning in the global terephthalic aldehyde market are Haihang Industry Co., Ltd., Wuhai Xinye Chemical Co., Ltd., Dalian Richfortune Chemicals Co. Ltd., Alfa Aesar, Hebei Xingyu Chemical Co., Ltd., and Tokyo Chemical Industry Co., Ltd.

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Growing Environmental Pressure Causing Market Deterrence

The world is observing an insufficient supply of terephthalic aldehyde, principally caused by the enforcement of ‘Environmental Protection Tax Law’ in 2016 in China. The policy required producers to install proper waste management facilities and levied heavy punishments and penalties on the companies, waning to comply with the mandated regulatory standards. These regulations interrupted the production facilities of terephthalic aldehyde, resulting in to abridged productivity, creating a huge variation between demand and supply. This has led to high vulnerability in the global market, leaving the end users obligated to look for other alternate materials or production technology in order to meet the industry demand.

Use in Other Applications along with Optical Brightener to Open Future Prospects

The scope of application and use of terephthalic aldehyde has expanded over the years to various end-use industries. It is mainly used for the production of optical brighteners and photo-polymers. It is also an important intermediate in the synthesis of medicines, dyes and perfumes. Though terephthalic aldehyde is a small volume product, it is projected to profit from macroeconomic industrial growth, predominantly in end-use sectors where it finds its niche applications.

The macroeconomic factors are projected to underpin end-user industries, such as textile, personal care, paper and pulp, and pharmaceutical, which in turn would create the demand for terephthalic aldehyde. Further, the uniqueness of terephthalic aldehyde in niche applications proves to be a vantage point. As per various industrial sources, the dearth of the alternatives in optical brightener application is the main factor driving its demand globally.

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Market Segmentation

The global terephthalic aldehyde market has been segmented into:

By Application

Optical Brightener
Polymers
Pharmaceutical Intermediates
Others

By Grade

Pharma/Super Grade
Technical Grade

By Region

Asia Pacific Excl. China
China
Americas
EMEA (Europe, Middle East & Africa)

About Future Market Insights (FMI)

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

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Global Pour Point Depressant Market Surges to Record Valuation of US$ 2,945.22 million by 2033, Reveals Industry Report

A recent forecast study by Future Market Insights (FMI) predicts that the global pour point depressant market will reach US$ 2,945.22 million by 2033, growing at a CAGR of 3.7% during the forecast period. The key drivers of growth include the increasing demand for pour point depressants in cold chain logistics, the growing need for temperature-sensitive commodities, and the increasing use of pour point depressants in the automotive industry in cold climates.

The market for pour point depressants was expected to reach US$ 1,974.80 million by 2022. The industry is projected to be valued at US$ 2,048.00 million by the end of 2023. The pour point depressant market is expected to expand at a rate of 3.70% CAGR throughout the forecast period, reaching a valuation of US$ 2,945.22 million by 2033.

The growth of cold chain logistics within the food, pharmaceutical, and chemical industries, along with the increasing need for commodities sensitive to temperature, are driving the market for pour point depressants. Pour point depressants maintain the flow properties of lubricants used in refrigerated storage and transit, which helps maintain the product’s integrity.

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Key Takeaways from the Market Analysis

Pour point depressant sales in the United States will likely rise at a 4.00% CAGR over the projected year.
From 2023 to 2033, the pour point depressant market in the United Kingdom is expected to flourish at a CAGR of 3.30%.
Pour point depressant demand in Germany is anticipated to expand at a 4.10% CAGR over the projected year.
Pour point depressant sales in China are anticipated to surge at a 4.10% CAGR between 2023 and 2033.
Throughout the forecast period, India’s pour point depressant market is projected to expand at a 3.80% CAGR.
In 2023, the poly alkyl methacrylate segment is anticipated to reach a market share of 33.8%.
The Group II category will account for 51.9% of the global market in 2023.

“The increased adoption of environmentally friendly pour point depressant solutions, as well as continued technological improvements leading to better low-temperature performance, will eventually drive demand in the global market,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Competitive Landscape

Manufacturers invest efforts in research and development to create new pour point depressant formulas. Companies can differentiate themselves in the market and command premium prices by creating products with unique features, such as enhanced performance or versatility with different types of crude oil.

Manufacturers often expand geographically to access new markets where pour point depressants are becoming more and more necessary. Businesses can increase their customer base, diversify their revenue streams, and increase profitability by going global via alliances, mergers, or acquisitions.

Key Developments

In 2022, to better serve its clients in the pharmaceutical, home care, personal care, and industrial application sectors, Clariant planned to enlarge its Care Chemicals facility in Daya Bay, Huizhou, China.
By 2024, the CHF 80 million investment will have increased capacity for current goods and brought new ones to market. The Clariant Daya Bay manufacturing plant has become the first API company in China to have approved polyethylene glycol Polyglykol 3350 after successfully receiving the medication GMP certificate. The location will serve as a new worldwide center for Clariant’s healthcare business support, expediting the delivery of premium ingredients for medications that have the potential to save lives.
In 2022, Lubrizol and Grasim Industries Limited initiated the construction of the first phase of a 100,000 metric ton CPVC resin facility in Vilayat, Gujarat, India. The Grasim Industries complex will house the largest single site CPVC resin production capacity in the world. It is intended to provide the growing demand for CPVC piping uses across India and its surrounding nations, including Bangladesh, Indonesia, and Nepal.

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More Valuable Insights Available

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

To understand opportunities in the global pour point depressant market, the market is segmented on the basis of chemical compositions (poly alkyl methacrylate, styrene ester, alkyl aromatic polymer, alkylated polystyrene, others), base oil additives (group I, group II, group III), end use industry (lubricants, industrial, automotive, marine, aviation, oil & gas, exploration & production, refining) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).

Segmentation Analysis of the Pour Point Depressant Market

By Chemical Compositions:

Poly Alkyl Methacrylate
Styrene Ester
Alkyl Aromatic Polymer
Alkylated Polystyrene
Others

By Base Oil Additives:

Group I
Group II
Group III

By End Use Industry:

Lubricants
- Industrial
- Automotive
- Marine
- Aviation
Oil & Gas
- Exploration & Production
- Refining

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Carbon Fiber Composites Transforming Prosthetic Limbs, Projected to Surpass US$ 61.9 Million by 2028

Future Market Insights (FMI) has introduced a new report on carbon fiber composites for prosthetics. The report has been titled, “Carbon Fibre Composites for Prosthetics Market: Global Industry Analysis 2013-2021 and Opportunity Assessment 2022-2028.” According to the Amputee Collation, the main causes of limb loss have been vascular diseases (54%) – including diabetes and peripheral arterial disease, trauma (45%), and cancer (less than 2%).

On average, 185,000 amputations occur in the United States every year. The adoption of prosthetics has witnessed steady growth in the last few years. Proliferating awareness among individuals together with swelling disposable income in the United States is expected to result in an increase in demand for prosthetics.

The majority of people agonize from limb or foot loss due to vascular diseases or due to some accident or injury, which is anticipated to further increase the sales of prosthetic products. The rising elderly population represents additional opportunities for orthopedic prosthetic device manufacturers.

The growing preference for carbon fiber-based prosthetic limb sockets among others is mounting with time. The major causes of amputations are diseases related to aging, such as diabetes-related gangrene, peripheral vascular disease, and osteoarthritis. An increase in the number of incidences of accidents is another core factor expected to drive the growth of the U.S. orthopedic prosthetics market.

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Availability of Substitutes to Obstruct Market Revenue Growth

Devices manufactured using 3-D printers need additional testing and quality panels than products manufactured using conventional manufacturing techniques to comply with regulatory and reimbursement requirements, thereby adding to the cost of the manufactured products.

As a result, people are shifting towards substitutes with newer and cheaper materials such as aluminum and stainless steel. This could obstruct the growth trajectory of the global carbon fiber composites for the prosthetics market.

Growing Physical Health Consciousness to Augur Well for the Market

The emphasis on leisure sports, physical fitness, and conditioning, such as aerobics and running is mounting, which has led to increased injuries requiring orthopedic rehabilitative services and products. These trends are demonstrated by the increasing demand for new prosthetic devices that have heightened strength, corrosion resistance, stiffness, etc., essentially properties that enable amputees to actively participate in fitness and leisure sports.

Children with congenital deformities of limbs can join leisure sports as per their choice. Some military amputees in the U.S. Army have even returned to active duty in war zones such as Afghanistan and Iraq. For instance, in 2007, out of the 600 service members who came back from Iraq or Afghanistan without a leg, arm, hand, or foot, almost 31 resumed active duty owing to prosthetics.

Moreover, growing incidences of accidents due to rapid transformation and use of fast-moving machinery as well as an increase in road accidents due to rash and drunk driving has augmented the growth of the market. War victims are another demographic that needs orthopedic prosthetics.

It is projected that the majority of amputees are veterans. Mines are responsible for 26,000 amputations per year and have produced 300,000 amputees worldwide. The use of prosthetics has given new opportunities to these people, thereby pushing the market towards growth in return.

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Competitive Landscape

The companies operating in the global carbon fiber composites for the prosthetics market are

Ossur
Hanger Inc.
Otto Bock HealthCare GmbH
Blatchford Ltd.
Touch Bionics Inc.
The Ohio Willow Wood Co.
Fillauer LLC.
Alchemy Composites
Freedom Innovations LLC.
Trulife
Kinetic Research Inc.

According to the report, the global carbon fiber composites for prosthetics market is expected to witness a CAGR of 3.7% from 2018 to 2028. The market is anticipated to rise to a valuation of US$ 61.9 Million by the end of 2028.

Carbon Fibre Composites for Prosthetics Market by Category

By Product:

Upper Extremity Prosthetics
Lower Extremity Prosthetics
Socket
Modular Components

By Technology:

Conventional
Electric Powered
Hybrid Orthopaedic Prosthetics

By Region:

North America
LAMEA
Europe
Asia Pacific

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:

Nandini Singh Sawlani

Pharmaceuticals Grade Sodium Bicarbonate Industry Surge Propels Growth: Future Market Insights Predicts US$ 372.4 Million Absolute Growth Opportunity by 2033

The pharmaceuticals grade sodium bicarbonate industry is set to experience robust growth, with a projected Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2033. In 2023, the market is expected to be worth US$ 265.3 million and is poised to reach an impressive valuation of US$ 372.4 million by the end of the forecast period. Research conducted by Future Market Insights reveals that the global market generated US$ 256.0 million in revenue in 2022, underlining its steady growth trajectory in the pharmaceutical sector.

The global pharmaceutical-grade sodium bicarbonate market is reliant on the pharmaceutical industry as a pH buffering agent. For electrolyte replenishing, as a systemic alkalizer, and in topical cleansing solutions, it has been used excessively. Furthermore, the demand from hospitals, the personal care industry, and healthcare institutions is expected to benefit the global market.

Considerable growth in the pharmaceutical industry along with accelerated sales of chemicals is predicted to boost the demand across the evaluation period. Moreover, the pharmaceutical industry is one of the key consumers of sodium bicarbonate. Over recent years, various pharma companies have been forced to shift their operating methods by adopting the latest technology. This new and sudden spur in the adoption of new technologies and innovation to support virtual work led to a significant rise in the overall market.

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Compelling Market Trends

Active pharmaceutical ingredients are known as chemical compounds in medicines that have a significant effect on the body. Such drugs containing soda-bicarbonate help activate an anti-inflammatory pathway and prevent autoimmune diseases. Some medicines called OTC (over-the-counter) medicines contain pharma-grade baking soda as an active pharma ingredient.

Over-the-counter drugs are the types of medicines that can be bought without any specific prescription according to the guidelines issued by the FDA (Food and Drug Administration). The FDA considers the consumption of these medicines as safe without any medical supervision. Furthermore, these drugs are utilized to treat various genetic health problems such as sleeping-related problems, cough and cold, pain, smoking cessation, itches, weight problems, tooth decay, gastrointestinal problems, and various others.

Awareness and media advertising made people aware of self-medication for occasional heartburn and acidity and the availability of antacids in over-the-counter (OTC) sales has emerged as one of the prime factors for antacids and similar products’ growth. In addition, antacids are known as one of the most popular over-the-counter medicines. Consistent growth in sales of antacids, baking soda, or sodium bicarbonate is the key ingredient for any kind of antacids. Steady growth in sales of antacids is promoting the demand with consistent growth rates.

Growth Drivers

The growth of the market is attributed to the advancements in research and developments, the transformation of digital platforms and IT is currently the top strategic priority for pharmaceutical companies and is expected to continue to be so in the future.

Pharmaceutical Grade Sodium Bicarbonate is expected to register significant growth during the assessment period. Based on geography East Asia is estimated to dominate the market owing to the presence of leading manufacturing units of leading pharmaceutical companies in China. The prominent over-the-counter categories comprise cough-cold and allergy, vitamins, weight loss and nutrition, pain relief, and digestives which collectively accounted for a significant share of all over-the-counter sales in 2022.

Over the past five years, several developments have taken place in the market. Numerous leading companies devised their plans to fend off possible threats and seize the medium- and long-term possibilities presented by this shifting environment and focused on the development of soda bicarbonate drugs with a fine grade for the treatment of a wide range of diseases.

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Competitive Landscape

Leading manufacturers operating in the global pharmaceuticals grade sodium bicarbonate market are focusing on developing high-quality pharma-grade-baking soda and developing technologies for mining. Key players in the market are focusing on generating revenue by exploring potential applications. Players are expanding their geographical boundaries to expand their consumer base.

Key Companies Profiled

Tata Chemicals
Novacarb (Novacap Group)
Dr. Paul Lohmann GmbH KG
GHCL Limited
CIECH S.A.
Natural Soda LLC
Jost Chemical Co.
Tornox Alkali Corporation

Recent Developments

On September 11, 2019, Exela Pharma Sciences is to announce the launch of Sodium Bicarbonate Injection, USP. Exela received approval for its ANDA for Sodium Bicarbonate Injection in May for four separate presentations. This product has been on the FDA Drug Shortage list consistently and is only the second FDA Approved Sodium Bicarbonate Injection on the US market.

Valuable Insights into the Pharmaceuticals Grade Sodium Bicarbonate Market

China is anticipated to account for a dominant market share of around 23.8% over the forecast period. The growth of the market is generated by key players present in China which have significant opportunities to leverage revenue generation in the country.

Segmentation of Industry Research

By Grade:

Fine
Coarse

By Application:

Active Pharmaceutical Ingredients
Excipients
Antacids
Haemodialysis
Tablet Coating
Toothpaste
Others

By Region:

North America
Latin America
Eastern Europe
Western Europe
SEA and Pacific
China
India
Japan
Middle East and Africa

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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Rising Demand for Active Pharmaceutical Grade Ingredients Propels Growth of Sodium Carbonate Market

A new research study titled “Pharmaceutical Grade Sodium Carbonate Market: Global Industry Analysis and Opportunity Assessment (2022-2028)” by Future Market Insights presents an extensive analysis of the pharmaceutical grade sodium carbonate industry along with global trends and opportunities across various regions. The analysis also includes key driving factors as well as restraining aspects that impact the global market’s growth. This extensive market research report covers the historical market scenario for pharmaceutical-grade sodium carbonate along with a forecast analysis for a period of 10 years.

According to Future Market Insights, the global pharmaceutical-grade sodium carbonate market is projected to rise at a value CAGR of 2.5% during the forecast period. In 2017 the global market was valued at around US$ 44.1 million and is estimated to touch a valuation of more than US$ 51 million by the end of the assessment period.

Increase in the Consumption of Drugs to Treat Gastrointestinal Diseases Expected to Fuel the Demand for Pharmaceutical Grade Sodium Carbonate

Owing to unhealthy food habits, demographic changes, sleeping habits and changes in other daily activities, rate of gastrointestinal diseases has increased. According to World Gastroenterology Organization, about 35% to 40% of the world’s population is suffering from chronic or acute gastrointestinal diseases. Due to changes in diet and associated irregularities in food consumption, higher percentage of population is developing gastrointestinal disorders.

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This has spurred the consumption of antacids and other gastrointestinal drugs. Pharmaceutical grade sodium carbonate is largely used as an API in various antacids to treat gastrointestinal drugs. This has fuelled the consumption of the chemical at a global scale consequently fuelling the growth of the global pharmaceutical grade sodium carbonate market.

Key Companies Involved in the Global Pharmaceutical Grade Sodium Carbonate Market

Prominent players involved in the global pharmaceutical grade sodium carbonate market are concentrating on expanding their production capacity with a view to meet the increasing demand for pharmaceutical grade sodium carbonate at a global level from various end users for different applications. A few of the major players operating in the global pharmaceutical grade sodium carbonate market are

Solvay SA
Novacarb (Novacap Group)
Dr. Paul Lohmann GmbH KG
CIECH S.A.
Natural Soda LLC
Jost Chemical Co.
Tianjin Chengyuan Chemical Co. Ltd.
Weifang Hongyuan Chemical Co. Ltd.
Tronox Alkali Corporation

Analysis of these players is included in this research report, the scope of which covers financial data, product portfolio, expansion strategies, and key developments and innovations.

Higher Price of Pharmaceutical Grade Sodium Carbonate to Hinder the Growth of the Global Market

The consumption of pharmaceutical grade sodium carbonate is limited to specialty, niche and certain high cost applications that require high levels of purity. Pharmaceutical grade sodium carbonate is manufactured using batch process to obtain high purity. Extreme caution is essential during the manufacturing process of pharmaceutical grade sodium carbonate coupled with low volume of production, the costs incurred in production are high as compared to regular grades of the chemical. This has resulted in increased pricing of pharmaceutical grade sodium carbonate which has a negative impact on the growth of the global market.

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Key Segments of Pharmaceutical Grade Sodium Carbonate Industry Survey

By Grade:

Fine Pharmaceutical Grade Sodium Carbonate
Coarse Pharmaceutical Grade Sodium Carbonate

By Application:

Pharmaceutical Grade Sodium Carbonate for API
Pharmaceutical Grade Sodium Carbonate for Pharma Excipients
Pharmaceutical Grade Sodium Carbonate for Personal Care
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
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 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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Nandini Singh Sawlani

Cup Carriers Market Set to Grow 67%, Reaching US$560.5 Million by 2033, Fueled by Delivery Boom and Sustainability

The global cup carrier market is poised to quench a growing thirst, reaching an estimated valuation of US$560.5 million by 2033, according to a new industry report. This translates to a projected CAGR of 5.2% over the forecast period. The market sits at an estimated US$337.6 million in 2023.

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Delivery Demands Drive Growth:

The report identifies key drivers propelling the market:

Delivery Deluge: The ongoing expansion of the beverage market and the surging trend of online delivery services are significant growth factors. The rise in online food delivery, particularly post-pandemic, has increased the demand for secure and convenient ways to transport beverages. Cup carriers offer a solution in various sizes and materials.
Sustainable Sipping: The growing focus on eco-friendly solutions is a boon for the market. Cup carriers made from paper, wood, and molded pulp are renewable, recyclable, and biodegradable, appealing to both customers and suppliers.

Material Matters:

The report explores the materials shaping the market:

Paper Reigns Supreme: Paper is expected to dominate the market due to its eco-friendliness and affordability.
Molded Pulp Mates: Molded pulp, made from recycled paperboard and newspapers, offers a sustainable alternative to traditional materials.
Plastic Perks: Plastic cup carriers offer enhanced strength for heavy loads, providing extra protection for beverages.

Regional Ripples:

The report highlights a geographical trend:

U.S. Upswing: The U.S. market is anticipated to witness significant growth, with estimated total sales of cup carriers reaching US$95.5 million by 2033.

Challenges and Considerations:

The report acknowledges some hurdles for the market:

Cost Constraints: Rising material, manufacturing, distribution, and transportation costs could hinder market growth. Affordability is a key concern for end-user companies.
Competitive Squeeze: The increasing competition among suppliers, manufacturers, and established players can pose a challenge for new entrants.
Shifting Preferences: Changing consumer preferences, including a potential shift towards reusable or recyclable cups, could dampen demand for cup carriers.

A Sustainable Future for Beverages on the Go:

The cup carrier market is well-positioned to benefit from the growing online food delivery sector and the increasing focus on environmental responsibility. As the beverage industry flourishes and advancements are made in sustainable materials and designs, cup carriers can continue to be a convenient and eco-conscious solution for beverage transportation.

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Global Cup Carriers Market by Category

Material:

Plastic
Paper
Wood
Molded Pulp

Carrying Capacity:

Single Cup
02 Cups to 04 Cups
Above 4 Cups

End Use:

Foodservice
- Quick Service Restaurant
- Hotels
- Restaurants
- Cafes
- Others
Institutional
Household

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Adhesive Transfer Tapes Market Sticks to Growth, Projected to Reach US$ 238.58 Billion by 2032

According to a new industry report by Future Market Insights, the global adhesive transfer tapes market is firmly adhering to a promising future, with a projected valuation of US$238.58 billion by 2032. This translates to a projected CAGR of 8.1% over the forecast period. The market witnessed a solid Y-o-Y increase of 7.9% in 2022, reaching US$109.5 billion.

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Widespread Applications Fueling Demand:

The report identifies key drivers propelling the market growth:

Versatile Application: Adhesive transfer tapes are used in diverse sectors like electrical & electronics, packaging, masking, consumer & office, automotive, and more. This wide range of applications is a significant growth factor.
Urbanization on the Rise: A growing urban population creates a demand for efficient solutions, and adhesive transfer tapes offer a strong and reliable alternative to traditional fastening methods like nuts and bolts.
Healthcare Advancements: Improvements in healthcare systems globally contribute to the market’s growth as adhesive transfer tapes find applications in various medical fields.

Beyond Packaging:

The report explores the market’s expansion beyond a single sector:

Gift Wrap & Beyond: While the demand for gift wrapping products continues to be a driver, adhesive transfer tapes are finding new applications in various industries, replacing traditional fastening methods.

Sustainability in Focus:

The report acknowledges a challenge for manufacturers:

Regulatory Hurdles: Stricter regulations on harmful chemicals and manufacturing emissions pose a challenge for some adhesive transfer tape manufacturers.

Acrylics Take the Lead:

The report highlights popular material choices:

Acrylic Advantage: Acrylic adhesives currently dominate the market, followed by rubber and silicone options.
Polypropylene Power: Polypropylene is the leading backing material used in adhesive transfer tapes.

A Strong Future for Diverse Industries:

The report explores factors influencing future growth:

FMCG Boom: The flourishing FMCG (Fast Moving Consumer Goods) sector, coupled with the growth of clothing and pharmaceutical industries, is expected to drive demand for adhesive transfer tapes globally.
Material Matters: The ability of adhesive transfer tapes to join substrates with different shapes, sizes, and compositions strengthens their market position.
Raw Material Risks: Fluctuations in raw material availability and energy prices could potentially hinder market growth.
Alternative Packaging: The emergence of alternative packaging methods, such as heat tapes, could pose a challenge to the traditional adhesive transfer tape market.

A Secure Future:

With their versatility, strong bonding capabilities, and diverse applications across industries, adhesive transfer tapes are poised for continued growth. As regulations evolve and manufacturers prioritize sustainable practices, the market is well-positioned to adapt and meet the evolving needs of various sectors in the years to come.

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Major Players:

Some of the major players identified across the globe in the heat sealing tape market are 3M, Kruse Adhesive Tape, Nitto Denko Corporation, Saint-Gobain, CCT Tapes, Surface Shields, Scapa Group PLC, tesa SE, Vibac Group S.p.a., Advance Tapes International, CMS Group of Companies, H.B.Fuller, K.L. & Ling, Lohmann GmbH & Co.KG., NICHIBAN CO., LTD., T-GLOBAL TECHNOLOGY CO., LTD., Shangrao City Dayu Tape Co., Ltd., Foshan Manzawa Adhesive Products Limited, Xiamen Naikos Industrial Co., Ltd., Shenzhen Minrui Adhesive Products Co., Ltd.

Regional Analysis includes:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Market Segmentation:

Based on product type,

single-lined adhesive transfer tapes
double-lined adhesive transfer tapes
extended-liner adhesive transfer tapes
fiber or scrim reinforced adhesive transfer tapes

Based on material type,

acrylics
rubber
silicone
Others

Based on form of tape,

waterproof
heat-resistant
antistatic
holographic
anti-counterfeit
others

Based on application,

home textile

bag sealing
box & carton sealing
masking
pharmaceutical packaging
others

Based on region,

North America

Latin America
Europe
Asia-Pacific
Middle East & Africa

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani