3D Scanners Market Set to Reach US$ 9.65 Billion Revenue, Anticipating 14.5% CAGR by 2030

The 3D scanners market is projected to reach US$ 9.65 Billion by 2030, at a CAGR of 14.5% between 2022 and 2030. 3D scanners have been witnessing huge adoption for commercial use cases.

In addition, the flexibility of 3D scanning technology to be customized as per professional requirements in several industries has boosted its adoption across prominent end-use industries. Case in point, in the healthcare sector, 3D scanners are leveraged to model body organs in three dimensions, which are utilized to create prosthetics.

The coronavirus (COVID-19) pandemic has hit the profit margins of electronics manufacturers, globally. As such, players in the 3D scanners market are confronting raw material shortages with weeks of delays, on average. Further, manufacturing and automotive industries are key revenue creators for the 3D scanners market, and the pandemic has severely affected these industries too.

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Consequently, the 3D scanners market would witness a notable drop in demand from these industries. A majority of manufacturers are forecasting a decline in sales over the first two quarters of 2020, and over 60% of players are projecting business operations to recover by October 2022.

Key Takeaways from the 3D Scanners Market Report:

  • 3D scanners/hardware will continue to hold the leading market share over the following decade.
  • Among all the services, 3D design and modeling services are expected to expand at the highest CAGR over the coming years.
  • Market players continue to capitalize on portable/handheld 3D scanners, while robot-mount 3D scanners offer potential value-capture opportunities.
  • Short-range (less than 1m) 3D scanners would capture a prominent revenue share; long-range (more than 300.1m) 3D scanners to witness adoption upsurge in the coming years.
  • Healthcare and manufacturing industries would remain the key end users of 3D scanners; the latter to show the most worthwhile prospects in the near term.
  • North America continues to engage market players; in East Asia to offer potential growth avenues.

Increasing Usage of 3D Laser Scanners in Collision Detection to Drive Market:
3D scanners are used in collision avoidance as well as in-vehicle navigation applications. These scanners come with features such as high accuracy of recorded measurements, making 3D scanners immensely useful for use cases, including reconstruction and collision detection.

Furthermore, handheld 3D scanners are utilized to record the interiors of damaged vehicles, allowing internal damages to be recorded, measured, and analyzed. As such, 3D scanners tick all the boxes of safety, speed, and flexibility, to offer complete collision detection as well as reduce the impact of traffic flow.

Leading Key Players:

  • Hexagon AB
  • Faro Technologies Inc.
  • Nikon Metrology NV
  • Topcon Corporation
  • Trimble Inc.
  • Creaform, Inc.
  • Perceptron Inc.
  • GOM MBH
  • Konica Minolta
  • Maptek Pty Ltd

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More Valuable Insights on the 3D scanners Market:

In its latest report, Future Market Insights offers an unbiased analysis of the global 3D scanners market, providing historical data for the period of 2015-2021 and forecast statistics from 2022 to 2030.

To understand the opportunities in the 3D scanners market, the market is segmented based on component (3D scanners/hardware, 3D scanning software, services), type (portable/handheld, desktop-based, fixed-mount, robot-mount), range (short range, medium range, long-range), and end-user (automotive, aerospace & defense, civil & architecture, healthcare, education, manufacturing, media & entertainment, others), across six major regions.

3D Scanners Market Segmentation:

By Component:

  • 3D Scanners /Hardware
    • Laser 3D Scanners
    • Optical 3D Scanners
    • Structured-light 3D Scanners
  • 3D Scanning Software
  • Services
    • 3D Design & Modelling
    • Integration & Deployment
    • Consulting
    • Support & Maintenance

By Type:

  • Portable/Handheld 3D Scanners
  • Desktop-based 3D Scanners
  • Fixed-mount 3D Scanners
  • Robot-mount 3D Scanners

By Range:

  • Short Range (Less than 1m) 3D Scanners
  • Medium Range (1.1m to 300m) 3D Scanners
  • Long Range (More than 300m) 3D Scanners

By End User:

  • Automotive
  • Aerospace & Defense
  • Civil and Architecture
  • Healthcare
  • Education
  • Manufacturing
  • Media & Entertainment
  • 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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Terrain Awareness and Warning System Market Analysis: Industry worth US$ 415 million by 2033

In 2023, the global terrain awareness and warning system market is expected to reach a valuation of US$ 245 million. By 2033, the revenue from terrain awareness and warning systems sales is expected to reach US$ 415 million, growing at a CAGR of 4.7%.

The escalating emphasis on aviation safety regulations and standards is becoming more apparent. The enforcement of TAWS by regulatory entities and aviation authorities worldwide is becoming mandatory to amplify situational awareness and avert mishaps resulting from controlled flight into terrain (CFIT). Furthermore, the surging requirement for cutting-edge avionics solutions and the increasing acceptance of state-of-the-art airplanes are significant factors propelling the expansion of the market. The steady progressions in technology, including enhanced topography charting and hindrance identification capabilities, continue to fuel the need for TAWS resolutions.

One of the major obstacles pertains to the elevated expenses linked with the installation and upkeep of TAWS resolutions. The intricate composition of the systems and the requirement for specialized training for pilots and maintenance personnel contribute to the overall costs. In addition, the aviation sector functions within rigorous regulatory prerequisites, and alterations or enhancements in air transportation regulations may present obstacles for producers and users. Furthermore, the aviation sector has been affected by the COVID-19 outbreak, resulting in a momentary deceleration in fresh airplane requisitions and installations.

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The terrain awareness and warning system industry offers numerous profitable prospects for players. Due to the increasing demand, the market potential for retrofitting TAWS solutions in existing aircraft is significant. Multiple airlines and aircraft operators are enhancing their fleets to meet regulatory mandates and enhance safety protocols. In addition, the increasing focus on creating sophisticated TAWS systems with improved functionalities, like anticipatory data analysis and AI algorithms, presents opportunities for originality and business growth. The advent of unmanned aerial vehicles (UAVs) and the requirement for efficient terrain avoidance systems in the drone sector offer encouraging prospects for TAWS producers.

The terrain awareness and warning system industry is observing various noteworthy trends molding its future. An emerging pattern involves the amalgamation of TAWS and other cutting-edge avionics technologies, including electronic flight bags (EFB) and flight management systems (FMS). The incorporation of this feature facilitates the effortless exchange of information and enhances the cognitive abilities of the pilot in making informed decisions. An emerging pattern involves the growing acceptance of Terrain Awareness and Warning Systems within general aviation and smaller aircraft categories. These aviation professionals can reap the rewards of TAWS’ upgraded safety capabilities thanks to the latest technological breakthroughs and budget-friendly options. In addition, the advancement of TAWS solutions that operate through cloud-based systems and the integration of data analytics in real-time are propelling the sector towards enhanced safety measures that are both efficient and proactive.

Key Takeaways from the Terrain Awareness and Warning System Market:

  • With a substantial market size of US$ 135 million by 2033, the United States controls the terrain awareness and warning system industry.
  • With a market size of roughly US$ 20 million by 2033, the United Kingdom has a significant market share in the terrain awareness and warning system industry.
  • Japan is expected to have a significant market share in the terrain awareness and warning system industry by 2033, with a market value of US$ 30 million.
  • With a market size of US$ 35 million by 2033, China is expected to take a large market share in the terrain awareness and warning system industry.
  • South Korea is expected to have a significant market share in the terrain awareness and warning system industry by 2033, with a market value of roughly US$ 16 million.
  • Class A systems are the driving force behind increased safety in the terrain awareness and warning system industry.
  • Turbine-powered engines have emerged as the industry’s dominating sector in terrain awareness and warning systems.

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What are Key Players Doing to Thrive in the Terrain Awareness and Warning Systems Market?

The terrain awareness and warning system industry is highly competitive, with several key players striving to maintain their market position and drive innovation. The competitive landscape is characterized by a mix of established companies and new entrants, each offering unique solutions and strategies.

Universal Avionics Systems Corporation, Honeywell International Inc., L3 Technologies Inc., Avidyne Corporation, Garmin, Collins Aerospace, Sandel Avionics, Aspen Avionics, Genesys Aerosystems, and Mid-Continent Instruments and Avionics are among the prominent companies operating in the TAWS market. These companies have a strong market presence and a diverse portfolio of TAWS solutions catering to various aircraft types and customer requirements.

Key players focus on continuous product development and innovation to stay at the forefront of the market. They invest heavily in research and development activities to enhance the capabilities of their TAWS systems, including advanced terrain mapping, obstacle detection, and intuitive user interfaces. Strategic collaborations and partnerships with aircraft manufacturers and avionics suppliers are common among these players to ensure seamless integration of TAWS solutions into new aircraft platforms.

Challenges in the competitive landscape include meeting stringent regulatory requirements and certifications, which demand rigorous testing and validation processes. Companies must also address the complexities of integrating TAWS with other avionics systems, ensuring compatibility and interoperability. Additionally, the high cost of TAWS solutions and the competitive pricing landscape poses challenges in attracting customers while maintaining profitability.

New entrants in the TAWS market have opportunities to penetrate niche segments and offer innovative solutions that differentiate themselves from established players. They can focus on developing cost-effective TAWS solutions for general aviation and regional aircraft, targeting customers who seek reliable safety systems at a competitive price point.

Strong Growth Anticipated for Industrial Ceramics Industry: Forecast to Reach 6.1% CAGR by 2032

The global industrial ceramics industry demonstrated remarkable growth, reaching a value of US$ 118.9 Billion in 2022, and is projected to further surge to US$ 218.1 Billion by 2032, registering a commendable CAGR of 6.1% during the forecast period. This expansion can be attributed to the widespread applications of industrial ceramics in diverse sectors, including aerospace & aviation, automotive, healthcare, oil & gas, and various other industrial verticals.

Improving infrastructure worldwide is expected to take the industrial ceramics market by storm in the near future. The construction vertical is the flagbearer herein. Ceramic implants are turning out to be more popular across the globe due to advancements in medical technology. They are used at a greater scale in the dental and orthopaedics sub-vertical.

The automotive sector has industrial ceramics-based products like ceramic bearings, mechanical seals, sensors, and valves. For instance – Yttria Stabilized Zirconia (one of the ceramic materials known for higher tensile strength) is well-suited for pump components like fuel injectors, and the mechanical seals for highly durable engines.

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Coming to pumps, critical components like stator and rotor are being produced from the industrial ceramics; particularly in the applications that involve movement of the high-temperature fluids. The major advantage is that industrial ceramics perform better under high temperatures and do have a better resistance against wear and corrosion. Insulation tiles are known for having a long history of utilization in the space shuttle program of NASA.

In today’s world, advanced industrial ceramics like glass-ceramic composites are used for making windows, panels, canopies, and lenses due to the higher heat resistance and being lightweight.

Future Market Insights has etched these facts with future perspectives in its latest market study entitled ‘Industrial Ceramics Market’. It has its determined team of analysts and consultants for executing through 360-degree view in its primary, secondary, and tertiary modes of research.

“With automotive and medical verticals increasingly asking for ceramics, the industrial ceramics market is likely to grow on a grand note in the near future” – says an analyst from Future Market Insights.

Key Takeaways from Industrial Ceramics Market

  • The Asia-Pacific holds the largest market share with rapidly expanding automotive vertical, fast-paced energy & power sector, and rising innovation in healthcare and aviation in Japan, China, and India.
  • Europe and North America have conventionally been stronger markets for industrial ceramics. The scenario is expected to remain unchanged even in the forecast period. The US, Germany, and the UK are leading from the front.

Competitive Analysis

  • Kyocera Corporation, in the year 2019, did announce that it had acquired Friatec GmbH’s ceramic business. It has actually given the company a ceramic production all across the Europe; thereby letting it fulfil expansion of industrial machinery components.
  • CeramTec, in 2021, did create a novel 3D printing technology for getting construction pieces from technical ceramics. It’s a quick and low-cost 3D printing method.
  • SCOTT AG, in September 2021, completed acquisition of Applied Microarrays Inc. for expanding the diagnostic business.
  • Bodycote, in April 2021, completed acquisition of Ellison Surface Technologies for creating the biggest engineered coating surface technology along with thermal spray services.
  • Oerlikon Balzers, in April 2021, expanded the first customer center in Vietnam; thereby expanding its footprints in the Asia-Pacific.
  • AGC Ceramics Co., Ltd., in December 2022, entered into collaboration with AMSKY technology Co., Ltd. for expanding the sales of BRIGHTORBTM 1, the 3D printing material in China.
  • Kyocera, in February 2022, did launch the high-speed ceramic packages as well as substrates for the optoelectronic devices at OFC.
  • AGC Si-tech, in July 2022, did launch Integrated Silica Product Brand RESIFATM to expand eco-friendly silica products like Microplastic Substitutes all through Norway.
  • CeramTec, in April 2021, did develop a ceramic power module for the drive inverters for e-mobility solutions. The company collaborated with Fraunhofer Institute for Integrated Systems and Device technology for developing cooling solutions for power electronics in the e-mobility drive trains.

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Key companies profiled

Kyocera, Anderman Industrial Ceramics, Elan Technology, Khyati Ceramics, Industrial Ceramic Products, Inc., Advanced Industrial Ceramics (AIC), Carborundum Universal Limited, CM Cera, A&B Industrial Ceramics, Schaefer Industrial Ceramics.

Key Segmentation

By Type:

  • Alumina
  • Silicon Carbide
  • Tungsten Carbide
  • Mullite
  • Cordierite
  • Zirconium Dioxide
  • Silicon Nitride

By Products:

  • Pipes & Tubes
  • Insulators
  • Knives & Cutters
  • Medical Implants
  • Fiber Optic Connectors
  • Electrical Connectors
  • Nozzles
  • Rods
  • Filters
  • Coatings
  • Formed Components

By End-Use:

  • Automotive
  • Aerospace & Aviation
  • Power
  • Oil & Gas
  • Healthcare
  • Industrial

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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
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Aerospace Maintenance Chemical Industry: Steady Growth Predicted with a CAGR of 3.4% by 2032

The global aerospace maintenance chemical industry was worth US$ 7.2 Billion in the year 2020 and is expected to reach US$ 10.4 Billion by the year 2032 at a CAGR of 3.4% between 2022 and 2032.

The aerospace maintenance chemical market is expected to witness a major overhaul in the upcoming period on the back of increase in frequency of the air travellers across the globe. As such, the airlines are into provision of cleaner experience to the passengers. It’s a known fact that passengers’ continuous contact with cabin’s interior tends to degrade the interiors of aircraft; thereby necessitating cleaning operations.

Aerospace maintenance chemicals could be lubricants or solvents. Lubricants are substances reducing friction between the moving parts; whereas solvents are the ones dissolving or removing materials like dust, dirt, paint, and grease. With increase in complexity of systems, airframes, and engines, maintenance as well as well as repairing of aircraft turns out to be mandatory. As aircraft components are pretty costly, and downtime could incur heavy losses to the airlines, it’s advisable to ascertain proper maintenance.

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As per SGI Aviation and IATA, more than 27K commercial aircrafts operate all over with an average age of over 12 years. Plus, half of the aircrafts are still operating in spite of crossing the operational age of 25 years. The figures send across a message that maintenance is inevitable. Plus, as per IATA’s MCTF (maintenance Cost Task Force), an airline fleet should not be running for more than 8.9 years. This precarious situation is bound to drive the demand for aerospace maintenance chemicals in the forecast period.

At the same time, stern regulations from the governments regarding usage of harmful chemicals for maintenance of airplanes, higher maintenance costs of the airplanes, and dearth of skilled professionals are expected to restrain the aerospace maintenance chemical market in the forecast period. Air travel has picked up pace. The global aerospace maintenance chemical market is likely to grow on an unstoppable note in the forecast period.

Also, the last two years were pretty tough for the aerospace vertical as lockdowns were enforced in wake of Covid-19. With normalcy getting restored in 2022,

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Aerospace Maintenance Chemical Market’. Its team comprising analysts and consultants is there to execute with an amalgamation of macros and micros.

“With growing realization of the fact that aerospace maintenance chemicals could be used as paint removers, cleaning materials, degreasers, paint strippers, and aircraft polishers & washers to render the commercial aircraft free of corrosion, the global aerospace maintenance chemical market is expected to grow on a stupendous note in the near future” – says FMI analyst.

Key Takeaways from the Aerospace Maintenance Chemical Market

  • North America holds the largest market share due to the end-consumers increasingly preferring air travel. Also, the governments are handsomely investing on maintaining defense aircrafts.
  • Europe stands second on this count along the parameters mentioned above.
  • The Asia-Pacific is expected to grow at the fastest rate in the aerospace maintenance chemical market. This could be reasoned with noteworthy growth in aerospace vertical.

Competitive Chemicals

Singapore Technologies Engineering Ltd., of late, did sell 50% of equity stake in ‘Keystone Holdings Pte. Ltd.’ to ‘SJ Aviation Capital Pte. Ltd.’ for nearly US$ 10.7 Million. ST Aerospace, along with SJ Aviation Capital, would be owning half of Keystone Holdings each; which would aid in developing a portfolio of the maintenance chemical products.

Quaker Chemical Corporation is known for providing process fluids, technical expertise, and specialty chemicals to a broad spectrum of industries inclusive of aluminum, steel, mining, automotive, aerospace, cans, tube and pipe, and likewise.

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By Key Players

  • Exxon Mobil Corporation
  • Royal Dutch Shell plc
  • The Dow Chemical Company
  • Arrow Solutions
  • Callington Haven Pty Ltd.
  • Florida Chemical
  • Nuvite Chemical Compounds
  • Eastman Chemical Company
  • ALMADION International

Key Segmentation of the Market

By Nature

  • Organic chemicals
  • Inorganic chemicals
  • Others

By Type

  • Commercial aircraft
  • General aviation
  • Helicopters
  • Defence aircrafts

By Application

  • Deicing Fluids
  • Cleaning Fluids
  • Others

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Paraffin Industry Poised for Expansion, Securing US$ 9.4 Billion by 2032

The global paraffin industry is poised for significant growth, with projections indicating it will reach a substantial value of US$ 9.4 billion by 2032, boasting a Compound Annual Growth Rate (CAGR) of 4.4% from 2022 to 2032. This expansion is primarily driven by the robust growth of key industrial sectors, including the paperboard and packaging industry and the personal beauty care sector, highlighting the pivotal role paraffin plays in these end-use industries’ development.

Demand from the food industry for surface protection is projected to be another factor driving the industry growth in the forecast period. Furthermore, expanding candle industry is predicted to propel the market. Yankee Candle Company launched a Sunday Brunch Candle collection. The candle was launched in various fragrances such as; vanilla, honey lavender, and others. Such initiatives are anticipated to boost the demand for Paraffin and propel the industry growth in the forecast period.

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In addition, rising demand for personal care products, principally in developing countries, like India, South Korea, and others are predicted to drive the market in the forecast period. Rapid urbanization and the surging number of working women are other important factors contributing to the surged demand for paraffin in the forecast period.

Key Takeaways from the Global Paraffin Market:

  • The paraffin wax segment to expand at a growth rate of 4.1% during the forecast period
  • Paper board and packaging to record a CAGR of 4.1% in the assessment period
  • Market in the U.S to hold a value of US$ 3.2 Billion by 2032
  • Chinese market to record a CAGR of 4% by 2032
  • Market in Japan to secure a market value of US$ 600 Million
  • Market in South Korea to  hold a revenue of US$ 300 Million by 2032

“Rapid growth of personal and beauty care sector, owing to the increasing disposable income and swift development of paper board and packaging industry is expected to play a significant role in driving the global market for paraffin in the forecast period.”

Competition Analysis

Key players in the global paraffin market include Exxon Mobil Corporation, Sasol, LANXESS, China Petroleum & Chemical Corporation, and ENEOS Corporation. Recent key developments in the market are as follows:

  • In March 2022, Sasol, the South African Energy, and Chemical Company sold its German subsidiary Sasol Wax to AWAX s.p.a. The firm is an international group specializing in providing wax products. The enterprise with two manufacturing units in the U.K and Austria will function under the name Hywax GmbH from w.e.f March 1, 2022.
  • In August 2021, LANXESS acquired Emerald Kalama Chemical for US$ 1.04 Billion. The specialty chemicals enterprise, LANXESS accomplished the second-largest history with the takeover of Emerald Kalama Chemical.

Leading Companies Profiled in Paraffins Market are

  • Exxon Mobil Corporation,
  • Sasol,
  • LANXESS,
  • China Petroleum & Chemical Corporation, and
  • ENEOS Corporation.

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Key Segments Profiled in the Global Paraffins Market

Paraffins Market by Type:

  • Paraffin Wax
  • Liquid Paraffins
  • Kerosene Paraffins
  • Petroleum Jelly Paraffins

Paraffins Market by Application:

  • Paraffins in Cosmetics and Personal Care
  • Paraffins in Paperboard and Packaging
  • Paraffins in Fuel
  • Paraffins in Rubber
  • Paraffins in Lubricants
  • Paraffins in Other Applications

Paraffins Market by Region:

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

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:      

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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Stainless Steel Control Valve Market Growth: Industry Reaching at US$ 1,066.0 million by 2033

Stainless steel control valves, the workhorses of precise fluid management in countless industries, are experiencing steady growth. Their durability, corrosion resistance, and ability to handle a wide range of pressures and temperatures make them a vital component in various process control applications. Let’s explore the key growth factors propelling this market, uncover exciting opportunities for manufacturers, and peer into the promising future of stainless steel control valve market.

Growth Factors: Turning Up the Pressure

  • Expanding Process Industries: Growth in industries like chemicals, pharmaceuticals, food & beverage, and oil & gas increases demand for reliable and robust control valves for precise flow management.
  • Focus on Safety and Hygiene: Stainless steel’s superior corrosion resistance makes it ideal for applications requiring high hygiene standards, particularly in the pharmaceutical and food & beverage industries.
  • Regulations and Environmental Concerns: Stricter environmental regulations and a growing focus on sustainability drive demand for valves that minimize leaks and emissions, a strength of stainless steel control valves.
  • Advancements in Automation and Control Systems: The integration of automation and control systems with control valves leads to more efficient and optimized processes, increasing their value proposition.

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Opportunities Aplenty: A Valve for Every Need

  • Specialization is Key: Develop control valves tailored to specific industry needs, such as high-pressure valves for the oil & gas industry or aseptic valves for the pharmaceutical industry.
  • Embrace Smart Valve Technology: Integrate sensors and communication capabilities into control valves for real-time monitoring, remote operation, and predictive maintenance, leading to smarter process control.
  • Focus on Energy Efficiency: Develop control valves with low-friction designs and optimized flow paths to minimize energy consumption and operating costs.
  • Global Market Expansion: Target emerging economies with growing process industries like China and India, offering valves that cater to their specific needs and budgets.

Future Trends: Charting the Course

  • Material Innovations: Development of new alloys and surface treatments for stainless steel control valves can offer enhanced corrosion resistance, higher temperature tolerance, and improved wear resistance.
  • The Rise of Digital Twins: Creating digital twins of control valves can enable virtual testing and optimization of performance, leading to better design and maintenance strategies.
  • Focus on Cybersecurity: As control valves become more connected, robust cybersecurity measures are crucial to protect them from potential cyberattacks that could disrupt critical processes.
  • Sustainability in the Spotlight: Manufacturers will prioritize eco-friendly production processes and develop control valves with a focus on energy efficiency and reduced environmental impact.

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Challenges and Considerations

    • Competition: The market is witnessing increased competition from both established and new players. Manufacturers need to differentiate themselves through innovation, quality, and exceptional customer service.
    • Fluctuations in Raw Material Prices: The cost of stainless steel and other raw materials can fluctuate, impacting production costs. Effective sourcing strategies are crucial.
    • Skilled Workforce: The growing demand for complex control valve solutions necessitates a skilled workforce for design, manufacturing, and maintenance. Manufacturers may need to invest in employee training programs.

Cosmetic Chemicals Industry Expected to Reach US$ 26.84 Billion by 2032, Growing at a CAGR of 5.4%

The global cosmetic chemicals industry is worth US$ 15.89 Billion as of now and expected to reach US$ 26.84 Billion by the year 2032 at a CAGR of 5.4% between 2022 and 2032.

Ingredients most commonly used in cosmetics are inclusive of preservatives, emulsifiers, moisturizers, thickeners, fragrances, and colors. They could be devised either naturally or synthetically. One could also derive synthetic chemicals from the natural products like bio- or petroleum-based ingredients. However, manufacturing process involved in synthesizing these chemicals is pretty complex. Moreover, as they are ‘derived’, they are categorized as synthetic. The natural products are inclusive of microbial, animal, mineral, and plant.

Elevance Renewable Sciences, Inc. is a manufacturer of specialty chemicals that develops as well as markets the emollients formulated by using the patented technology from various plant-based products for usage in cosmetics, skin lotions, and hair styling products.

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Constructive disruption in cosmetic chemicals market is expected to take place through incorporation of technological advancements. On these grounds, Givaudan is making use of plant cell culture as well as phyto peptides technology for developing skin care products. Extensive research is being conducted by the key participants for developing sustainable products to address customers’ demands with growing inclination toward organic and natural cosmetic products.

Moisturizers and emollients hold more than 30% of the market share. Emollients are known for softening the skin by prevention of water loss. The applications include skin moisturizers, body lotions, lipsticks, and face creams. They get sold at commercial level in both – synthetic and natural forms. Emollients broadly used include coconut oil beeswax, olive oil, lanolin, glycerine, petrolatum (petroleum jelly), zinc oxide, mineral oil, butyl stearate, and diglycol laureate.

Preservatives are added to cosmetics products during their formulations with the objective of extending shelf life and checking the proliferation of fungi and bacteria. The preservatives commonly used are inclusive of benzyl alcohol, parabens, formaldehyde, salicylic acid, and EDTA (tetrasodium ethylenediaminetetra-acetic acid). Players like COBIOSA do develop as well as distribute chemicals pertaining to skin care formulations. These chemicals are developed from botanicals inclusive of camelina, polyphenols, collagen, algae, and insects as well. Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘Cosmetic Chemicals Market’. It has its line of expertise in the form of analysts and consultants to do the things.

Key Takeaways from Cosmetic Chemicals Market

  • North America holds more than 34% of the market share. This could be credited to cosmetic chemicals being increasingly used to manufacture organic personal care products.
  • Europe holds a significant market share in the cosmetic chemicals market. This could be credited to growing demand for the cosmetic products that are formulated through natural ingredients.
  • The Asia-Pacific is expected to grow at the fastest rate in the cosmetic chemicals market due to countries like China and India being subject to rising buying power.

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Competitive Chemicals

The key companies profiled include Akzo Nobel NV, Ashland Incorporated, Active Organics, BASF SE, Berkshire Hathaway Incorporated, Bayer AG, Clariant International Limited, Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, Emery Oleochemicals Group, FMC Corporation, Novecare, Integrated Botanical Technologies, Pilot Chemical Company, Procter & Gamble Company, Solvay SA and United-Guardian Incorporated among others.

“Growing demand for cosmetic products, that too, formulated with various natural ingredients is expected to drive the cosmetic chemicals market”, says an analyst at FMI.

What does the Report get through?

  • The research study is based on product (cosmetic surfactants, cosmetic polymer ingredients, cosmetic colorants, and cosmetic preservatives), and by application (cosmetic chemicals for skin care, cosmetic chemicals for hair care, cosmetic chemicals for make-up applications, cosmetic chemicals for oral care, cosmetic chemicals for fragrances, and cosmetic chemicals for other applications).
  • Urge to improve appearance and looks is expected to take the cosmetic chemicals market at a greater stride in the years to come.

Key Segments Profiled in the Cosmetic Chemicals Industry Survey

By Product:

  • Cosmetic Surfactants
  • Cosmetic Polymer Ingredients
  • Cosmetic Colorants
  • Cosmetic Preservatives

By Application:

  •  Cosmetic Chemicals for Skin Care
  •  Cosmetic Chemicals for Hair Care
  •  Cosmetic Chemicals for Make-Up Applications
  •  Cosmetic Chemicals for Oral Care
  •  Cosmetic Chemicals for Fragrances
  •  Cosmetic Chemicals for Other Applications

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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eSports & Games Streaming Market Surges with Projected US$ 7,725.9 Million Growth by 2033

The net worth of eSports and game streaming market share was figured out to be around US$ 2,357.1 million in 2022. Over the forecast period from 2023 to 2033, its market is anticipated to grow at an annual average growth rate of 11.9%. The market further estimates the market valuation to reach up to US$ 7,725.9 million by 2033 growing from US$ 2,589.6 million in 2023. The demand for eSports and game streaming services has been spurred by the rising percentage of internet users and mobile gamers.

The main reasons encouraging the market growth include an increase in live streaming of digital games, along with growing audience reach by reducing data costs. Moreover, significant investments in improving engagement activities, and infrastructure for league competitions have also strengthened the market in the last few years. For instance, in 2003, China declared esports to be an official sport that offered the nation’s esports operators some professional jobs.

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Due to the growing popularity of gaming competitions millennials are viewing eSports as a viable alternative for a professional career. The emerging trend of one-to-one sponsorships, streaming earnings, and big international prize pools have also boosted the demand substantially. To foster the development of qualified professionals, many schools and institutions have also begun organizing specialized eSports and game events.

Key Takeaways from the eSports and Game Streaming Market Study Report

  • As per the report, the market is going to witness an absolute increment opportunity of US$ 5,136.3 million over the next ten years.
  • In 2022, North America captured a sizable revenue share of nearly 37.2%, with the United States contributing almost two-thirds of it. For many years, the country has consistently controlled the market and its global market share in 2022 was 24.3%.
  • The sales of eSports and game streaming subscriptions in Europe accounted for nearly 22.4% of the global revenue generated in the year 2022.
  • The service providers based in Germany are the leading players in Europe and together contributed 8.7% of the global market revenue.
  • Over the forecasted years, the overall market is expected to be dominated by the Asia Pacific countries like China and India. Though the annual CAGR of China is 8.8%, India is surprisingly anticipated to follow a CAGR of 13.8% through 2033.
  • Based on different types of solutions, the web-based eSports and game streaming services contributed to an astounding 67.9% of the market revenue in 2022. While, among the different revenue streams of the market, eSports and game streaming services through subscriptions contributed 23.2%.

Competitive Landscape for the eSports and Game Streaming Market Players

Amazon, Douyu TV, YouTube Gaming, Facebook Gaming, and Mixer of Microsoft are some prominent players in the global market. The market players operating in this sector are benefitting from the lucrative prospects made possible by the growing formalization of, gamers, game creators, and event planners.

Korean eSports Association and SK Telecom agreed to sign a three-year sponsorship agreement for eSports and game streaming services in April 2022. After this new arrangement, the SK Telecom Company is now KeSPA’s official sponsor and is also coaching the Korean eSports squad for future Asian tournaments. During the anticipated term, several market-related efforts and innovations are anticipated to fuel additional growth.

Recent Developments:

  • In October 2021, FaZe Clan Inc. signed a definitive merger agreement (the Merger Agreement) to combine with B. Riley Principal 150 Merger Corp.(BRPM). A special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (RILY) (B. Riley Financial). Through the proposed business combination, FaZe Clan is positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a United States national exchange.
  • In May 2021, LaLiga, Spain’s premier football association, and Microsoft Corp. announced an expansion of their partnership. It is focused on digitally transforming the sports experience globally. The companies also collaborated on developing technology solutions for the media and entertainment industry through LaLiga’s technology offering, LaLiga Tech.
  • In May 2021, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, and the National Hockey League (NHL) debuted two new advanced analytics during the 2021 Stanley Cup Playoffs. The new stats, powered by AWS, use cloud technologies such as analytics, server-less computing, and media services to gather data from the ice in real-time. It analyzes and visualizes it for fans as graphics appearing on the broadcast.

Key Players:

  • Amazon.com, Inc.
  • Douyu TV (Tencent Holdings Limited)
  • YouTube Gaming (Alphabet Inc.)
  • Facebook Gaming
  • Mixer (Microsoft Corporation)

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eSports & Games Streaming Market Segmentation:

By Revenue Streams:

  • Media Rights
  • Subscriptions
  • Online Advertisements
  • Tickets and Merchandise
  • Sponsorships and Direct Advertisements
  • Publisher Fees

By Solutions:

  • Web Based
  • App Based

By Region:

  • North America
  • Latin America
  • 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   

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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Field Force Automation Market: Forecasting a Remarkable 17.4% Surge, Targeting US$ 10,725.9 Million by 2033

The field force automation market is on the rise, poised for substantial growth of approximately 17.4% in the coming years, with the goal of reaching an impressive market value of US$ 10,725.9 million by the year 2033. This means that companies and organizations are increasingly adopting and investing in technologies and solutions that streamline and enhance the efficiency of their field operations.

Major factors resulting in the expansion of the market are projected to be the growing mobile internet penetration, increasing focus on leveraging advanced technologies, the Internet of Things, and AI, among others.

The deepening penetration of connected appliances and the emergence of advanced technologies is predicted to propel the industry in the forecast period. Moreover, the rapid deployment of next-generation technologies like ML, cloud computing, robotics, and computer vision has resulted in the digital transformation of business entities.

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On the contrary, challenges associated with the growing number of cyberattacks are expected to hamper the market. Moreover, the field force automation service software consumes too much time during data entry. Also, they are difficult to accustom to software systems, which is yet another factor inhibiting the demand for field force automation services.

As per the analysis, the cloud segment is anticipated to expand at a CAGR of 16.8% during the forecast period. The expansion of the segment can be attributed to the growing preference for cloud-based field force applications. Developing nations such as India, China, and Japan are expected to make significant contributions to strengthen the market.

According to the analysis, the global field force automation market is expected to be dominated by the United States during the forecast period. The country is projected to register a value of US$ 2,563.49 million by 2033 while recording a CAGR of 17.3% during the forecast period.

Key Takeaways from the Field Force Automation Market Report:

  • The global field force automation market is estimated at USD 10.1 Billion while recording a CAGR of 17.6% during the forecast period.
  • The solution segment to expand at a CAGR of 16.6% from 2022 to 2032
  • The cloud segment to record a 16.8% growth rate
  • The U.S market to hold a market value of USD 3.5 Billion in 2032
  • The U.K market to secure USD 433.4 Million during the forecast period
  • The China market to garner USD 725 Million during the assessment period

Leading Key Players:

  • ClickSoftware
  • ServiceMax
  • Oracle
  • Microsoft
  • Salesforce
  • Others

Recent key developments among key players are:

  • In April 2019, Trimble launched the Trimble PULSE Remote Expert. It is an Augmented Reality (AR) equipment that improved the productivity of field service workers by connecting them with experts via audio, video, and spatial annotations in real-time.
  • In May 2019, Microsoft updated the capabilities of Dynamics 365 for Field Service. The update would allow the end customers to use IoT capabilities and enhance field productivity.

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Field Force Automation Industry Segmentation:

By Components:

  • Solutions
  • Services

By Deployment:

  • On-premise
  • Cloud

By Organization Size:

  • SMEs
  • Large Enterprises

By Vertical:

  • IT and Telecom
  • Healthcare and Life Sciences
  • Manufacturing
  • Transportation and Logistics
  • Construction and Real Estate
  • Energy and Utilities
  • Other Verticals

By Region:

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

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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Overhead Cables Market Size Soars to US$ 119.8 billion by 2033

The overhead cables market is predicted to be valued at US$ 50 billion in 2023 and US$ 119.8 billion by 2033. Over the projection period, sales in the overhead cables market are expected to increase at a CAGR of 5.6%. The integration of smart grid technologies is revolutionizing the overhead cables market. Smart grids enable real-time monitoring and control of power distribution, enhancing reliability, efficiency, and grid resilience. This trend creates opportunities for the development of advanced overhead cables with embedded sensors and communication capabilities to support smart grid integration.

The rapid growth of renewable energy sources, such as wind and solar power, offers a unique opportunity for the overhead cables market. The increasing need to transmit electricity from remote renewable energy generation sites to urban centers requires high-capacity overhead cables capable of handling the load and minimizing power losses. While overhead cables have traditionally dominated the market, there is a rising trend towards undergrounding power distribution infrastructure. This shift presents opportunities for specialized overhead cable manufacturers to develop solutions that meet the unique requirements of underground installations, such as enhanced flexibility, durability, and insulation properties.

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The electrification of transportation, including electric vehicles and mass transit systems, is a growing trend with substantial implications for the overhead cables market. The charging infrastructure for electric vehicles requires robust overhead cables capable of handling high power loads, presenting a unique opportunity for cable manufacturers to cater to this emerging market segment.

Increasing environmental concerns and sustainability initiatives are driving the demand for eco-friendly overhead cables. Companies that adopt sustainable materials, such as recyclable metals and low-carbon footprint coatings, gain a competitive edge in the market by meeting the evolving preferences of environmentally conscious customers.

Advancements in materials science, manufacturing processes, and cable designs are driving innovation in the overhead cables market. For instance, the development of composite materials, such as carbon fiber reinforced polymers, offers lightweight and high-strength alternatives to traditional overhead cables, enabling longer spans and reduced installation costs.

 Key Takeaways from the Overhead Cables Market

  • As per FMI, the United States is spearheading the growth across North America, accounting for a CAGR of 5.5% of market share during the projected period.
  • Sales of overhead cables are expected to surge at 5.5% CAGR across China in 2022.
  • United Kingdom is expected to account for a significant CAGR of  3% in Europe from 2023 to 2033.
  • As per Future Market Insights, low voltage is expected to dominate the top type with a healthy CAGR of 5.4% over the projected time period.
  • As per FMI, the residential segment is poised to surge at a CAGR of 5.1% CAGR during the forecast period.

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 How Key Players are revolutionizing the Manufacturing of Overhead Cables?

Key players in the manufacturing of overhead cables are spearheading a revolution in the industry. Through cutting-edge technologies and innovative manufacturing processes, they are transforming the way overhead cables are produced. These players are investing in research and development to develop advanced materials and designs that enhance the performance, durability, and efficiency of overhead cables.

They are also adopting automation and digitalization to streamline production, reduce costs, and ensure consistent quality. Key players are also focusing on sustainability by incorporating eco-friendly materials and practices in their manufacturing processes, aligning with the growing demand for environmentally conscious solutions. Their efforts are reshaping the overhead cables market and driving it towards a more efficient and sustainable future.

Key Players in the Market:

  • Amphenol Corporation
  • Alan Wire Company
  • Alpha Wire
  • ABL Electronic Supplies, Inc.
  • AEI Cables Ltd.

 Product Portfolio:

  • Amphenol Corporation’s product portfolio includes a wide range of high-performance interconnect solutions, cable assemblies, sensors, and antennas, catering to diverse industries such as automotive, aerospace, telecommunications, and industrial sectors.
  • Alan Wire Company offers a comprehensive product portfolio of electrical wiring solutions, including electrical cables, wire harnesses, control cables, and specialty wire products. Their offerings cater to various industries, including construction, manufacturing, energy, and telecommunications sectors.