Market Research Blog – Page 3094 – New Product Development

Premium Polymers Pave the Way: Biopharma Plastics Market Expands Amid Health Concerns

The industry for biopharma plastics and polymers is anticipated to be driven by rising healthcare costs and rising health concerns. Additionally, the presence of substantial PP molding facilities and the manufacturing industry is anticipated to fuel market expansion throughout the anticipated time frame.

Depth filters, syringes, and containers are among the applications that benefit from Biopharma Plastics‘ increased stability. The market has grown as a result of an increased demand for using premium polymers in the manufacture of single-use biopharma plastics.

The market for biopharma plastics is being driven by industry players who are extensively spending in R&D to create biopharmaceutical goods that cater to all aspects of customer needs. Due to the presence of major producers of biopharma plastics including Celanese Corporation, Eastman Chemical Co., and DuPont in the region, North America dominates the market for these materials. Due mostly to the expanding governmental support and advantageous reimbursement policies for medical equipment, Europe is the second-largest shareholder in the industry.

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Key Takeaways from the Market Study

As of 2023, the biopharma plastics market was valued at US$ 5.42 Billion
From 2023 to 2033, the biopharma plastics industry is poised to grow at an 11.4% CAGR
By 2033, the biopharma plastics market is slated to reach a valuation of US$ 15.95 Billion
By polymer type, the polyvinyl chloride segment accounted for the largest share of 21.5% and is expected to continue this trend over the forecast period.
China is poised to yield a CAGR of 11.3% with respect to biopharma plastics in 2033

“Growing healthcare spending and increasing application of biopharma plastics are expected to radically transform the biopharma plastics market in the coming years,” comments an analyst at FMI.

Competitive Landscape

BASF SE, LyondellBasell Industries Holdings B.V., SABIC, LG chem, Toray Industries, Inc., Solvay, Dow, Inc., DuPont de Nemours, Inc., Saint-Gobain Performance Plastics, Tekni-Plex are some of the key players in the biopharma plastics industry.

The manufacturers are involved in the production of biopharma plastics in a larger capacity. Research and innovation are also conducted to launch innovative plastics for biopharmaceutical products.

Also, some of the key players are acquiring small pharmaceutical companies to increase their production capacity.

In September 2022 – LyondellBasell announced today that Hanwha Solutions Corporation will use the LyondellBasell Lupotech T high-pressure polyethylene technology at a new site in Yeosu, South Korea. The Lupotech T process technology will be used for a 300 kiloton per year (KTA) vinyl acetate copolymer (EVA) line.
In July 2022 – DuPont celebrated the opening of its new DuPont^™ Liveo^™ Healthcare Solutions manufacturing facility located at the Cooper River Site in South Carolina. The new facility will expand capacity for biopharmaceutical tubing extrusion to meet increased demand from Liveo^™ customers
In October 2021 – Tekni-Plex Healthcare has acquired precision extrusion manufacturer Johnson Plastic Group (JPG) as part of a strategy to expand the company’s patient care solutions platform. The acquisition expands Tekni-Plex Healthcare’s medical device capabilities and broadens the division’s global footprint by adding a presence in Mexico.
In November 2022 – Solvay, a leading supplier of advanced materials, teamed up with French start-up Ostium in a joint project designed to enable the mechanical recycling of end-of-life single-use surgical instruments molded in glass-fiber reinforced Ixef® polyarylamide (PARA) from Solvay’s portfolio of specialty polymers

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Key Segments Covered in the Biopharma Plastics Market Survey

By Polymer Type:

Polyethylene – PE
Polypropylene – PP
Acrylonitrile Butadiene Styrene – ABS
Polyethylene Terephthalate – PET
Polyvinyl Chloride – PVC
Polytetrafluoroethylene – PTFE
Other

By Application:

Protective Wear
Container
Bioreactor Bags
Syringes
Depth Filter
Disposable Medical Connectors
Others

By 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.

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Future Market Insights Inc.
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Revolutionizing Automotive Efficiency: Zero Friction Coatings Market Set to Reach US$ 1,575.59 Million by 2033

The global zero friction coatings industry size is anticipated to hold a market value of US$ 879 Million in 2023 and US$ 1,575.59 Million by 2033. The projected growth rate is nearly 6% during the forecast period from 2023 to 2033. Growth can be attributed to the fact that these coatings reduce friction and wear resulting in low fuel consumption and less heat generation. According to the European Automobile Manufacturers’ Association, 79.1 million motor vehicles were produced across the globe in 2021 which was up by 1.3% as compared to 2020. Zero friction coatings can extend the time between component maintenance and replacement, especially for machine parts that are expensive to manufacture.

Several applications in the automobile industry use wear-resistant plastic seals that require zero tolerance for failure and lifetime service confidence. Increasing demand for the product from the automotive industry across the globe for various applications including fuel pumps, automatic transmissions, oil pumps, braking systems, and others is expected to drive its demand over the forecast period.

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Low friction coatings can be used in extreme environments comprising high pressure, temperatures, and vacuums. These coatings can provide improved service life and performance thereby eliminating the need for wet lubricants in environments that require chemicals, heat, or clean room conditions. The products containing molybdenum disulfide (MoS2) are suitable for reinforced plastics while those free from MoS2 are suitable for non-reinforced plastics.

Zero friction coatings are paint-like products containing submicron-sized particles of solid lubricants dispersed through resin blends and solvents. The product can be applied using conventional painting techniques such as dipping, spraying, or brushing. The thickness of the film has a considerable influence on the anti-corrosion properties, coefficient of friction, and service life of the product. Its thickness should be greater than the surface roughness of the mating surfaces.

Key Takeaways from the Market Study

In 2022, molybdenum disulfide emerged as the dominant type segment by contributing around 50% of the revenue share.
The automobile & transportation was the dominating end-use segment accounting for a revenue share of more than 35% in 2022 due to the rapid growth of the automotive industry across the globe.
The energy end-use segment is anticipated to grow at a CAGR of 5.7% in terms of revenue by 2033.
In Asia Pacific, the market is projected to witness the highest CAGR of 5.8% over the predicted years.

“Properties of zero friction coatings such as vacuum & radiation resistance, dry and clean lubrication that is not affected by dust, non-flammability, and no oxidation are predicted to foster the product demand over the forecast period,” says an analyst at Future Market Insights.

Key Market Players

Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the zero friction coatings market are

Endura Coatings
DuPont
VITRACOAT
Poeton
Bechem
ASV Multichemie Private Limited
GMM Coatings Private Limited
IKV Tribology Ltd.
Dow Corning
Whitmore Manufacturing

Some of the recent key developments among key players are:

In June 2020, Poeton Industries launched the latest in a long line of ground-breaking surface treatments. The Gloucester based company has launched Apticote 480A, a new composite coating that combines the properties of nickel and fluoropolymer materials into one problem-solving solution. The new advanced coating builds on the strong Poeton history of developing innovative solutions. The treatment has been created in the Poeton Research & Development Laboratory led by Dr John Archer and builds on the success of existing nickel-polymer treatments.

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More Valuable Insights

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

The study reveals essential insights on the basis of Type (Polytetrafluoroethylene, Molybdenum Disulfide), By Application (Aerospace, Energy), & Region.

Key Market Segments Covered in the Global Zero Friction Coatings Market

By Type:

Polytetrafluoroethylene
Molybdenum Disulfide
Others

By Formulation:

Solvent-based Coatings
Water-based Coatings
Powder Coatings

By End Use:

Automobile & Transportation
Aerospace
General Engineering
Food & Healthcare
Energy
Others

Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Global Nanocellulose Market Projected to Exceed US$ 2,725.5 million by 2033: Explosive Growth Fueled by Diverse Industry Applications

The global nanocellulose market value is forecast to increase from US$ 474.8 million in 2023 to US$ 2,725.5 million by 2033. Overall cellulose sales will soar at an impressive CAGR of 19.1% from 2023 to 2033.

Rising demand for nanocellulose from packaging, biomedical, and electronics industries will drive the market. Similarly, increasing the usage of cellulose in the manufacturing of paper products will boost sales.

The mainstream nanocellulose manufacturers are located in East Asia and North America regions. Europe on the other hand is one of the key consumer markets due to high demand from industries.

The market in South Asia and Africa is likely to flourish in the forecast period as the prices of the product are set to witness a reducing trend owing to the rising commercialization of production facilities.

Prominent manufacturers of nanocellulose are strategically expanding their production capacities to meet the growing demand for paper & packaging applications.

Various companies are investing in research and development to discover additional potential applications for nanocellulose in fields such as cosmetics, paints and coatings, dyes, detergents, and 3D printing.

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Besides the above-mentioned industry trends, the nanocellulose market is also heavily influenced by demographic, macroeconomic, innovation, and sustainability factors. Based on these factors, significant investments have been made in the nanocellulose market, which is expected to drive demand for nanocellulose in the forecast period.

Key Takeaways from Nanocellulose Market:

Global sales of nanocellulose will rise at 1% CAGR from 2023 to 2033.
By product type, cellulose nanofibrils (CNF) segment accounts for around 68% share of the market.
By end use, packaging sector consumes about 27% of the global nanocellulose production.
East Asia nanocellulose market is forecast to thrive at 4% CAGR between 2023 and 2033.
Nanocellulose demand in North America will surge at 10% CAGR through 2033.
The United States is likely to hold around a 1% share of the global market in 2033.

“The nanocellulose market holds a huge potential for growth due to the superior properties of the material as well as its eco-friendly benefit over the traditional materials. Market players are focusing both on expansion as well as research on nanocellulose to not only boost the production but also to find novel applications and explore the untapped opportunities in the nanocellulose market.” says an FMI analyst.

Who is Winning?

The nanocellulose market is believed to be dominated by a few key players, who are projected to hold about 45% of the market share. These leading players include Sappi, Nippon Paper Industries, GranBio, CelluForce Inc., American Process Inc., Anomera, and others.

Key players are concentrating on expanding their production capacity to improve their global footprint. Further top players are also investing significantly in innovation in the product series.

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More Insights into the Nanocellulose Market Report :

In its latest report, Future Market Insights offers an unbiased analysis of the global nanocellulose market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on product type, end use, and region.

Nanocellulose Industry Segmentation

By Product Type:

Cellulose Nanofibrils (CNF)
Cellulose Nanocrystals (CNC)
Bacterial Nanocellulose (BNC)

By End Use:

Packaging
Paper
Composites
Food Ingredient
Cosmetics and Personal Care
Textiles
Electronic Devices
Pharmaceutical and Biomedical
Others

By Region:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Potassium Fluoborate Market Poised for 4.0% CAGR Growth, Driven by Automotive and Metal Processing Sectors

According to Future Market Insights (FMI), demand for potassium fluoborate is estimated to reach US$ 439.2 Million by the end of 2032. The potassium fluoborate market is expected to grow at a CAGR of 4.0% owing to consistent demand from end-use industries such as automotive, metal processing, oil & gas, and others.

Growth in the market is driven by rising demand for abrasives from the metal processing & automotive industry. Abrasives find a major role in the automotive industry, as these are used for polishing, grinding, cutting & other functions. Potassium fluoborate is water insoluble source of potassium & is used in oxygen-sensitive applications.

Potassium fluoborate is employed in a variety of industries which demands different specifications such as purity. Nano-scale particles & with more than 99% purity are utilized in crucial applications. Also, these are utilized in the production of sodium fluoborate, and ammonium fluoborate, which are further used in agrochemicals. Hence, the market has a direct impact on the growth of these end-use industries.

“Growing consumption of potassium fluoborate coupled with increasing utilization of fluxing agents, soldering agents & abrasives in different end–use industries is expected to drive the market during the projected period,” said an analyst at FMI.

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Key Takeaways from the Potassium Fluoborate Market Study

Demand for potassium fluoborate is to witness a growth outlook of around 4.0% over the coming assessment period.
Metal processing & abrasives are expected to remain key applications, accounting for more than 60% of the volume consumption.
Abrasive is predicted to remain a key application segment and is expected to utilize potassium fluoborate at a rate of 4.9% over the forecast period.
Adoption of new & advanced manufacturing technologies to produce a pure form of potassium fluoborate & expansion of production capacities are expected to remain the main key trends in the market.

Competitive Landscape in the Potassium Fluoborate Market

The potassium fluoborate market is a consolidated market with the presence of some dominant key market players. These players are holding more than 50% of the market share. Some of the top manufacturers included in the research study are

Solvay S.A.
Morita Chemical Industries
Harshil Industries
Honeywell Fine Chemicals
AMG Aluminum
Madras Fluorine Ltd.
Stella Chemifa Corporation
Triveni Chemicals
Skyline Chemicals
Foshan Nanhai Fluoride Chemical Co. Ltd
Derivados Del Flúor (DDF)
Hunan Merits New Materials Co. Ltd.
American Elements
PARTH INDUSTRIES
AWISHKAR CHEMICALS INDUSTRIES
S. B. CHEMICALS
FENGYUAN INDIA PRIVATE LIMITED

Some of the notable key developments in recent years include increased production capacity and the introduction of new and improved manufacturing procedures.

Manufacturers are focusing on the launch of a new product line in purity form, as well as continued research and development to expand their product portfolio. Furthermore, industrial participants are focusing on developing manufacturing units to increase the core business.

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Potassium Fluoborate Market Segmentation

By Purity:

Less than 99% Purity
99% & above purity

By Grade:

Technical Grade
Reagent Grade

By End-use:

Soldering Agent
Metal Processing
Abrasives
Fluxing Agent

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

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Nandini Singh Sawlani

Carboxy Therapy Market Surges to US$ 308.37 Million by 2032: A Paradigm Shift in Minimally Invasive Surgeries

The global carboxy therapy market size is projected to have a high-paced CAGR of 12.4% during the forecast period. The current valuation of the carboxy therapy market is US$ 95.81 Million in 2022. The value of the carboxy therapy market is anticipated to reach a high of US$ 308.37 Million by the year 2032.

The key aspect pushing the adoption of carboxy therapy is the growing desire amongst consumers to opt for minimally invasive or plastic surgeries. Waste reduction in healthcare delivery is recognized by the World Health Organization (WHO) as a vital component of improving healthcare systems.

Moreover, technological advancements have resulted in the creation of surgical procedures that reduce waste and produce better results with fewer resources. Minimally invasive surgeries (MIS) and non-invasive treatments are two techniques that result in less waste and lower medical costs.

Furthermore, these methods assure less absence at work, which has a net beneficial influence on an economy’s production. The demand for carboxy therapy is expected to surge since minimally invasive procedures provide quicker healing, less scarring, less stress, and more patient satisfaction.

The modern concept of natural and harmonious rejuvenation is based on a comprehensive, three-dimensional, multi-layered approach that incorporates a variety of active ingredients and techniques in procedures such as skin relaxation, surface renewal, and skin tightening, depending on the needs of the individual patient.

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Because the look of the skin is seen as an important aspect of well-being and health, the number of cosmetic operations performed globally is rapidly growing. This is expected to expand the global carboxy therapy market size.

Treatments and solutions in the worldwide carboxy treatment market are in high demand due to the fact that they have no long-term negative effects. These therapy techniques are popular because they take very little time (15 to 30 minutes for each session) and require no downtime, allowing patients to continue their daily lives without having to take any further precautions or care. This is also a boon to the burgeoning worldwide carboxy therapy business. These factors are estimated to surge the growth of the carboxy therapy market share.

Key Takeaways:

During the forecast period, North America is expected to account for the largest share of the global carboxy treatment market. The region’s market is expected to rise due to an increase in consumer demand for anti-aging therapies, as well as an increase in population living standards and income.
The Asia Pacific carboxy therapy market is predicted to develop rapidly, particularly in China, South Korea, and India, during the projected period. This is owing to anti-aging remedies, devices, and goods becoming more popular in regional nations as the geriatric population grows, the increase in the number of cosmetic surgeries, and the growing popularity of anti-aging treatments, devices, and products.
Owing to convenience and high demand for the device for pain relief and medical aesthetics, the “tabletop” type held the greatest revenue in 2022, accounting for more than 12.6% of total revenue, and surged the adoption of carboxytherapy.
Increasing demand for non-invasive or minimally invasive procedures such as laser resurfacing, cosmetic injectables, and other services and growing consumer interest in improving skin texture and tone, make the “aesthetic medicine” application type accounting for more than 12.9% in 2022, and the most preferred medicine type.

Competitive Landscape:

Owing to the existence of both international and local players, the global carboxy treatment market is fragmented. A vast number of manufacturers have a significant market share in their respective regions. Organic developments, such as product releases and approvals, are often highly adopted by key companies.

For instance, in 2020, DermaCare Institute offered enticing loyalty programs to their revered customers, to avail invasive dermatological treatments. These factors are estimated to expand the global carboxy therapy market size.

The following companies are key leaders in the global market for carboxy therapy:

DTA Medical
Fosun Pharmaceutical Co., Ltd.
Merz Pharma GmbH & Co. KGaA
Cosmo Pro Ltd.
Allergan plc
Carbossiterapia Italiana
Beijing Jontelaser Technologies Co. Ltd.
Kastner-Praxisbedarf
Mezopharma
MBE Medical Division
Nick Fanavaran Plasma Company
Alvi Prague
JONTE

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Varied Uses of Carboxy Therapy in Different Industries Are Propelling the Market

Medical practitioners are using carboxy therapy procedures to treat a variety of illnesses that arise as a result of poor blood circulation, such as erectile dysfunction, Raynaud’s syndrome, alopecia, and acute arthritis.

Carboxy therapy equipment are often utilized in beauty salons for cosmetic objectives such as cellulite reduction and skin smoothing. These devices are used in beauty clinics to give cosmetic treatments such as dermal fillers or anti-aging injections that need a targeted administration of CO2 gas in certain regions.

Because these gadgets may be readily combined with other items supplied by beauty facilities, they have grown in popularity over time. All these factors are anticipated to surge service and product demand, and boost the global carboxy therapy market growth.

However, strict regulatory restrictions and safety issues related to carboxy therapy are expected to impede worldwide market growth throughout the projected period. Furthermore, the exorbitant cost of advanced carboxy therapy treatments and inadequate healthcare infrastructure in emerging countries may stifle the market expansion.

Key Segments Profiled in the Carboxy Therapy Market Survey

By Type:

Tabletop
Portable
Others

By Application:

Aesthetic Medicine
Dermatology
Gynaecology
Angiology
Orthopedics
Rheumatology
Sports Medicines
Others

By End User:

Hospitals
Aesthetic Clinics
Beauty Centers

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Pharmaceutical and Agrochemical Sectors Propel Global Acid Chlorides Market to Reach US$ 3,903 Million by 2032

According to Future Market Insights, the global acid chlorides market is expected to grow from US$ 2,430.9 Million in 2022 to US$ 3,903 Million by 2032, with overall demand accelerating at 4.9% CAGR throughout the forecast period (2022 to 2032). The rising application of acid chlorides in pharmaceuticals, chemical reagents, plastic & pigments, organic peroxides, and agrochemicals is a key factor driving the global market and the trend is expected to continue during the forecast period.

Since cardiovascular diseases like atherosclerosis are becoming more common, the demand for pharmaceuticals like aspirin continues to climb. According to data from the National Center for Biotechnology Information (NCBI) published in 2021, more than 30% of Americans used aspirin in 2019.

Furthermore, it is projected that sustained pharmaceutical demand will drive market revenue growth over the next few years. Apart from pharmaceutical applications, demand for acid chlorides is also witnessing substantial growth opportunities in the agrochemical sector.

Consistent population growth is propelling sales of agrochemicals to increase crop yields to meet the growing food demand. Being key active ingredients, various acid chlorides are experiencing elevated demand levels from the agrochemical sector. On the other hand, various health hazards associated with exposure to a wide spectrum of acid chlorides and the regulations associated with them are limiting market expansion

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“Growing prevalence of heart diseases and increasing demand for pharmaceuticals like aspirin are anticipated to propel the sales of acid chlorides over the forecast period,” says an FMI analyst.

Key Takeaways:

The global acid chlorides market is expected to attain a value of over US$ 3,903.5 Million by the end of the forecast period, growing at a CAGR of 4.9% over the forecast period.
By product type, the benzoyl chloride segment holds the largest share of the global acid chloride market.
Based on end-use, the pharmaceuticals segment will grow at a higher CAGR over the next ten years.
The US will continue to remain the most prominent acid chlorides market during the forecast period.
Demand for acid chlorides across China is poised to increase at a steady pace during the forecast period.

Who is Winning?

According to FMI analysis, key manufacturers in the Acid Chlorides market

Altivia
BASF
Novaphene
CABB Chemicals
Orion Chem Pvt. Ltd.
Wilmar International
Transpek Industry Ltd.
VanDeMark Chemical, Inc.
Kuhlmann Europe
R. Drugs and Intermediates Pvt. Ltd.
Twin Lake Chemical Inc.
Shiva Pharmachem Ltd.
Rheinmetall AG

These key players are constantly focusing on increasing their production capacities to meet end-user demands. They are establishing new production facilities if upgrading older ones, besides forming partnerships and alliances with other companies.

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Acid Chlorides Industry Segmentation

By Product Type:

Ethanoyl Chloride
Propanoyl Chloride
Butanoyl Chloride
Benzoyl Chloride
Chloroacetyl Chloride
Thionyl Chloride
Palmitoyl Chloride
Others

By Application:

Chemical Reagents
Plastic and Pigments
Organic peroxides
Agrochemicals
Pharmaceuticals
Others

By End Use:

Pharmaceuticals
Agriculture
Plastics
Dyes & Inks
Cosmetic
Others

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Nandini Singh Sawlani

Global Industrial Insulation Market Projected to Expand with a 5% CAGR, Surpassing US$ 12.66 Billion by 2032

As per the reports published by FMI, the global industrial insulation industry is projected to have an average-paced CAGR of 5% during the forecast period. The current valuation of the market is US$ 7.77 Billion in 2022. The market value of the industrial insulation market is anticipated to surpass a valuation of US$ 12.66 Billion by the year 2032. A historical market valuation of US$ 7.4 Billion has been recorded by the experts of Future Market Insights for the concerned market during the base year.

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

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

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

Key Takeaways from the Industrial Insulation Market

The industrial insulation market is estimated to register an average-paced CAGR of 5% through the forecast period.
The stone wool segment by product type category is estimated to hold considerable shares in the upcoming years. The segment accounted for 23% of revenue shares in 2021.
The CMS Fiber segment is anticipated to progress at a CAGR of 3.9% during the period 2022-2032.
The North American region is expected to dominate the global industrial insulation market with the U.S. as the dominating country, which is expected to surpass a valuation of US$ 2.42 Billion by the end of 2032.

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

Competitive Landscape in the Industrial Insulation Market

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

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

Recent Developments

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

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Some of the key players proliferating in the market are

Rockwool Insulation A/S
Poroc Group Oy
Knauf Insulation
TechnoNICOL Corporation
Anco Products, Inc.

Key Segments in the Industrial Insulation Market

By Material:

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

By Product:

Pipe
Board
Blanket
Others

By Application:

Power Generation
Petrochemical & Refineries
EIP Industries
LNG/LPG
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Nandini Singh Sawlani

Global Train Battery Market Set to Accelerate with a Steady 5.0% CAGR, Surpassing US$ 975.9 Million by 2033

As per the reports published by FMI, the global train battery market is projected to have an average-paced CAGR of 5.0% during the forecast period. The current valuation of the market is US$ 599.1 million in 2023. The market value of the train battery market is anticipated to surpass a market valuation of US$ 975.9 million by the year 2033. A historical market valuation of US$ 567.9 million has been recorded by the analysts of Future Market Insights for the concerned market during the base year.

FMI has analyzed that there is an increasing need for raising the number of passenger trains and fleet management, which is resulting in more manufacture of trains, thereby surging the train battery market shares in 2023.

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Additionally, locomotive operators are looking out for sustainable options and energy-efficient solutions. They are willing to cut down on the usage of diesel fuel and reduce the number of carbon footprints. This is a key aspect bolstering the growth of the train battery market during the forecast period. Furthermore, the increased electrification of trains and rise in the allocation of railway budget for train modification is estimated to further fuel the growth of the market through 2033.

However, it is identified that some aspects are likely to deter market growth. This includes stringent regulations from the government and the high maintenance cost involved, coupled with high capital investments.

Key Takeaways from the Train Battery Market

The train battery market has witnessed an approximate rise of US$ 31.2 Mn from the base year to the current.
The lithium-ion battery segment by battery type category is projected to hold a dominant share of the market. Currently, the segment is advancing at a CAGR of 13.1% in 2023.
The auxiliary battery segment by application type is likely to hold dominant shares and has accounted for a market share of 66.4% in 2022.
The U.S. has emerged as the leading country with a market share of 18.1% in 2023.
The train battery market in Europe is estimated to foster at a moderate pace, registering a CAGR of 3.1% through 2033.

“Latest technology setups and heavy investment for developments in railway infrastructure are likely to curate a favorable market for the growth of the train battery industry.” – Says an FMI Analyst.

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Competitive Landscape in the Train Battery Market

The manufacturers in the train battery market are leveraging advancements in technology to launch new and advanced batteries and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to comply with the safety regulations in the market and aid the further progression of the train battery market. Thus, the market is likely to witness significant growth through 2033.

HOPPECKE Carl Zoellner & Sohn GmbH (Germany), FENGRI POWER & ELECTRIC CO., LIMITED. (Japan), Power & Industrial Battery Systems GmbH (Germany), Saft2022 (France), SEC Battery (Hong Kong), and Shuangdeng Group Co, Ltd (China) are some of the key companies marking their prominence in the train battery industry.

Recent Developments

In July 2019, the Japan Railway Company made a demonstration for its first fully battery-operated Shinkasen N700S train at a press event.
In September 2018, Canadian transportation organization Bombardier made reintroduction its battery-powered electro-hybrid train named Bombardier Talent 3.

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Key Segments in the Train Battery Market

By Train type:

Autonomous Trains
Hybrid Locomotives
Fully Battery Operated Trains

Battery type:

Lead Acid Battery
Nickel Cadmium Battery
Lithium Ion Battery

By Locomotive type:

Diesel Locomotive
Diesel Multiple Units
Electric Locomotive
Electric Multiple Units
Bullet Train
Metros
Light Monorail
Passenger Coaches
Freight Wagon

By Application:

Starter Battery
Auxiliary Function Battery

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Author

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

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Natural Vitamin E Product Market Poised to Reach US$ 956.3 Million by 2032 with a Robust 10.8% CAGR

The global natural vitamin E product market size is expected to be valued at US$ 758.1 Million in 2022 and US$ 956.3 Million in 2032. Rising awareness about personal health and wellness is encouraging consumers to include vitamins and minerals in their daily diet, which would push sales of natural vitamin E products.

As per FMI, the global natural vitamin E product market is projected to exhibit steady growth at a CAGR of 10.8% in the forecast period (2022-2032). Surging demand for dietary supplements infused with natural vitamin E is anticipated to bode well for the global market.

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Vitamin E refers to a group of powerful antioxidants that aid in protecting your cells from oxidative stress. Ample amount of vitamin E is highly essential for the proper functioning of human body and inadequate vitamin E levels can lead to unwanted conditions, such as infections, eyesight impairment, or muscle fatigue & muscle weakness. Vitamin E has been widely known as an important element of a nutritional and balanced diet.

Natural Vitamin E Product Market – Novel Developments

Key players operating in the natural vitamin E product market are centering on product developments and innovations to sustain business growth. Moreover, companies in the natural vitamin E product market are working on the concept of value proposition, wherein they summarize why a consumer should choose their products over other available counterparts.

In 2018, Designs for Health (DFH) – a key player in the natural vitamin E product market – made an official announcement of the launch of an exclusive product line, namely ‘’Annatto-ETM’. This new product line launched by DFH contains unique & natural vitamin E tocotrienols specially derived from the South American plant- ‘Bixa Orellana’ or ‘Achiote’. Backed by extensive clinical research, this new product line released by DFH are available in 3 dosages- 75mg, 150 mg, and 300 mg.

In 2019, Koninklijke DSM N.V. – a leading player in the natural vitamin E product market – said that it intends to establish a joint venture with Nenter & Co., Inc, a company focused on biomedicine solutions. This joint venture is aimed at enabling DSM to have a regional partner in the business having strong connections with local aspects, which, in turn, will help the company with a vitamin E production ramp-up.

Natural Vitamin E Product Market – Dynamics

Natural Vitamin E Product Market – Pervasive Trend of Preventive Care & Healthy Nutrition to Boost Growth

Sensing the close relation of diet with health & well-being, consumers are inarguably relying on nutritive products to meet their nutritional demands. With vitamin E being one of the most beneficial type of vitamin, the global demand for natural vitamin E product is witnessing growth at an exponential rate.

Benefits of vitamin E in terms of balancing cholesterol, reducing cancer risks, strengthening & repairing muscles, and others are being increasingly recognized by consumers worldwide. This, in turn, is foreseen to create optimistic grounds for natural vitamin E product market over the forecast period. Pervasive trend of preventive care & healthy nutrition and rising consumer inclination toward effective vitamin supplements is also driving the demand for natural vitamin E product.

Natural Vitamin E Product Market – Surging Demand from Cosmetics & Skin Care Applications to Boost Growth

Natural vitamin E products find extensive applications across multiple applications, including pharmaceuticals, animal feed, functional food & beverages, and cosmetics. Scope of adoption of natural vitamin E product in cosmetics is increasing at a fast-paced rate, owing to a plethora of skin benefits offered by vitamin E.

The demand for natural vitamin E product from the skincare and cosmetic applications is picking pace, as vitamin E is gaining significant popularity as a viable ingredient for skin care products. Consumers are increasingly spending on anti-aging creams, face masks, and many other skin care products infused with vitamin E, as it helps in skin rejuvenation and reduces appearance of stretch marks. This, in turn, is highly likely to offer revenue-generating opportunities for the companies operating in natural vitamin E product market.

Natural Vitamin E Product Market – Rising Prominence of Synthetic Vitamin E Products to Challenge Growth

Increasing prominence of synthetic vitamin E products with similar level of reliability is foreseen to challenge growth of the natural vitamin E product market. Availability of high-quality synthetic vitamin E products with superior dispersability and flowability is getting hold of consumer attention, thereby holding back growth of natural vitamin E product market. In addition, higher extraction costs associated with natural vitamins translate into high production costs, thereby creating significant challenges for companies operating in natural vitamin E product market.

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Natural Vitamin E Product Market – Segmentation

By product type, the natural vitamin E product market has been segmented into-

Tocopherols
Tocotrienols

By application, the natural vitamin E product market has been segmented into-

Functional Food & Beverages
Pharmaceuticals
Cosmetics
Animal Feed
Dietary Supplements

By source, the natural vitamin E product market has been segmented into-

Soybean oil
Sunflower oil
Rapeseed oil
Others

About Future Market Insights (FMI)

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EV Transmission Systems Market to Surpass US$ 45 Billion by 2033, Boasting a 17.8% CAGR

The global EV transmission system market is projected to register at a moderate-paced CAGR of 17.8% over the forecast period. The EV transmission system market is currently valued at US$ 8799.9 Million in 2023. By 2033, demand for EV transmission systems is expected to reach US$ 45282.3 Million.

The EV transmission industry is expanding due to several factors, including the increasing popularity of EVs and the growing demand for clean automobiles. The EV transmission system market is also expected to benefit from government programs that encourage the purchase of electric vehicles. However, the expensive price of EVs is slowing the expansion of the sales of the EV transmission system. In addition, developments in EV technology and the deployment of Vehicle-To-Grid (V2g) EV charging stations are anticipated to create

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Due to their lighter weight and smaller size, these engines generate fewer harmful emissions. These downsized small engines are multifaceted due to their compact and cost-effective design. As a result, major players in the EV transmission industry have a lot of room to grow owing to the advancement of transmission system technology for EVs.

Key Takeaways

In 2023, the European region will account for 46% of all revenue.
Over the period from 2023 to 2033, the demand for battery EVs is projected to exceed US$ 20,000 Mn.
In terms of total revenue, the AT transmission system segment is expected to account for almost 55% by 2023.
In 2023, vehicles made up 61% of the revenue pie by type of vehicle.
It is projected that the offline EV transmission system market would expand at a CAGR of 22.39% between 2023 and 2033.

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Competitive Landscape

Leading companies in this industry include Dana Limited, ZF Friedrichshafen AG, AVL List GmbH, Continental AG, and Eaton. Most of these businesses are investing in expanding production to reduce emissions from cars and the auto industry.

Continental AG has started mass production of its electric powertrains in China, and it is already being used by both European and Chinese Original Equipment Manufacturers (OEMs). To further illustrate the quick shift in focus towards electrification in response to stricter emission laws, the company has ceased investing in components used in Internal Combustion (IC) engines. The major competitors in the EV transmission system market are investing heavily in R&D to create game-changing electric vehicle technology, which is projected to drive market growth.

Key Segments in the EV Transmission System Market

Vehicle Type:

Battery Electric Vehicle
Plug-in Hybrid Electric Vehicle
Hybrid Electric Vehicle

Transmission Type:

Single Speed
Multi-Speed

Transmission System:

AMT Transmission,
CVT Transmission,
AT Transmission
Others

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Region:

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

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.

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