Market Research Blog – Page 3137 – New Product Development

New Zealand Sustainable Tourism Market Thriving with a 16.3% CAGR Surge by 2032 | FMI

The New Zealand sustainable tourism market is suspended to surpass a valuation of US$ 8.1 million in 2022. The total sales in New Zealand sustainable tourism market are projected to grow at a 16.3% CAGR during the projection period (2022 to 2032).

The rising focus of the government towards achieving sustainability along with the introduction of various initiatives and programs is a key factor driving growth in the New Zealand sustainable tourism market.

By 2025, the New Zealand Tourism Sustainability Commitment hopes to have every tourism firm in the country committed to sustainability. Sustainability encompasses not just environmental, but also social, and economic, and giving visitors good experiences.

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New Zealand has some of the most beautiful landscapes and natural settings in the world. The uniqueness of the nature and environment attracts more people to New Zealand to experience the natural beauty of the country.

Key takeaways

Based on tourism type, eco-tourism segment is likely to outpace other segments over the assessment period.
By tour type, the package travelers are estimated to account for the largest revenue share of New Zealand sustainable tourism market by 2032.
Based on booking channel, the online booking channel remains most preferred by tourists.
By age group, 26-35 age group segment will continue to hold the highest share in the New Zealand sustainable tourism market during the forecast period.
In terms of tourist type, domestic tourist segment will be the most remunerative in the market during the forthcoming decade.

Who is Winning?

Leading companies providing New Zealand sustainable tourism are focused on maintaining sustainable tours and eco-friendly practices during the trip, advertising popular tourist destinations in New Zealand, and launching new offers.

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Some of the key players include

Aroha Tours
Flying Kiwi
Tuatara Tours
Pure Trails
Air New Zealand
Tourism New Zealand
Active Adventures
Bush and Beach
New Zealand Encounters and Travel Ltd
Hiking New Zealand
Zealandier Tours
Guest New Zealand
Queenstown
Haka tourism group

New Zealand Sustainable Tourism Market by Category

By Tourism Type, New Zealand Sustainable Tourism Market is segmented as:

Eco-Tourism
Green Tourism
Soft Tourism
Community Tourism

By Booking Channel, New Zealand Sustainable Tourism Market is segmented as:

Phone Booking
Online Booking
In-Person Booking

By Tourist Type, New Zealand Sustainable Tourism Market is segmented as:

Domestic
International

By Tour Type, New Zealand Sustainable Tourism Market is segmented as:

Independent Traveler
Tour Group
Package Traveler

By Consumer Orientation, New Zealand Sustainable Tourism Market is segmented as:

Men
Women

By Age Group, New Zealand Sustainable Tourism Market is segmented as:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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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Middle East Paints and Coating Market Fueled by Oil & Gas Infrastructure Expansion, Flourishing Construction Projects, and Rising Demand in Marine Sector

According to research conducted by Future Market Insights on the Middle East paints and coatings market, demand for paints and coatings will reach a valuation of US$ 7,447.9 Million by the end of the forecast period. The market has been significantly influenced by certain macro-economic and industrial factors including chemical industries development, growing construction sector, economic development, manufacturing sector, architectural sector development, and others.

In the oil & Gas industry paints and coatings industry helps in the protection of offshore and onshore rigs, in the onshore plant coating is used to protect Pipework, Jacket, Flare bloom, Living quarter, and Riser. The large Industrial & protective coatings market being created by the Middle Eastern oil and gas industry is particularly attractive to European, as well as North American and Japanese, coatings manufacturers because it requires global technical standards. In fact, its needs are even tougher because of the region’s climate which necessitates resistance against hot temperatures, UV rays, and potential abrasion from sand and dust.

Marine paints and coatings are utilized on a wide range of vessels, including freight and business ships. Marine polyurethane paints and coatings are utilized in business and recreation creates as well as on seaward designs, for example, big hauler stages, pipelines, oil apparatuses, and storage spaces. The growing marine industry is expected to boost the market for paints and coating in the middle east.

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Moreover, In the architectural industry, household homes, and other construction projects, paints and coatings are widely employed for both interior and exterior applications. They are used to restyle and shield the exterior of the house from UV rays, soaking rain, and sweltering summer and winter temperatures (without fading, peeling away, and cracking the exteriors).

Middle Eastern countries are one of the fastest growing markets for the construction industry due to the presence of fast-growing economies, which are witnessing increasing spending on residential, commercial as well as institutional construction markets. During the forecast period, all of the aforementioned elements are anticipated to drive the Middle-East paints and coatings market in the architectural sector.

“Consistently growing demand from end-use industries, particularly construction, oil and gas pipelines, and automotive is driving the demand for paints and coatings in the Middle East.,” said an analyst at FMI.

Key Takeaways from the Paints and Coatings Market Study

The Middle East Paints and Coatings market is estimated to witness a growth forecast of 7% magnitude on a value basis.
Saudi Arabia and Egypt are expected to collectively hold around 35% of the overall market share.
Saudi Arabia’s Paints and Coatings market is estimated to create an incremental dollar opportunity of about US$ 759.2 Mn during the period between 2022 and 2032 in the global market.
Acrylic resin type production is expected to account for about more than half of the Paints and Coatings consumption in the Middle East region.

Competitive Landscape

The market of paints and coatings in the middle east is estimated to be a consolidated market, where key players are expected to account for a key share of the market. Some of the top manufacturers include

Jotun Paint
Sigma Paint
Al Jazeera Paint
SAK Coat.
The PPG Group
Sherwin-Williams
Nippon Paint ME FZE
Asian Paints
AkzoNobel
Middle East Paints Company
Global Paints FZC
Kansai Paints
Henkel Jebel Ali FZCO
BASF SE
Arkema Group
DuPont de Nemours, Inc.
Cabot Corporation
Fosroc

Key players are focusing on increasing their production capacity to enhance their market footprint all over the globe and to gain traction in the market. Further certain key players are focusing on investing in the latest Paints and Coatings products production owing to a significant increase in the demand from the architectural industry.

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For instance, • August 8, 2022, Jazeera Paints, the leading manufacturer of paints, colors, and construction solutions in the Middle East and North Africa opened its sixth showroom in Iraq. The new showroom is close to other towns such as Qaladze, Dukan, Chwar Qwrna, Sangasar, and Hajiawa, and will also serve their needs for high-quality paints and construction.

Market Segments Covered In Middle East Paints and Coating Market Analysis

By Resin Type:

Acrylic
- Pure Acrylic
- Styrene
- Vinyl
Alkyd
Polyurethane
Epoxy
Polyester
Others

By Technology:

Water-borne
Solvent-borne
Powder Coatings

By End-Use:

Architecture
- Interior
- Exterior
Automotive & Transportation
Protective Coating
Wood
Refinish
Coil Coating
Packaging
Marine
General Industrial

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
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 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

Lithium Ion Battery Separator Market Set to Skyrocket to US$ 3,256.7 Million by 2032, Fueled by Electric Vehicle Adoption and Consumer Electronics Surge

The global lithium-ion battery separator market size is expected to reach an evaluation of US$ 3,256.7 million, with sales growing at a healthy CAGR of 7.2% from 2022 to 2032. The target market was valued at US$ 1,624.9 million in 2022. The accelerated shift from fuel-based to zero-emission electric vehicles along with the rapid growth of automobiles, storage systems, and consumer electronics are responsible for the steady growth of the market during this observation period.

Battery cells with abnormal heat generation are separated by a lithium-ion battery separator which shuts down the battery mechanism. These separators facilitate ion transport while preventing short circuits which increases battery reliability as it prevents physical contact between the anode and cathode. This aspect encourages higher demand for lithium-ion battery separators.

Historically, the market for lithium-ion battery separators recorded a moderate CAGR of 5.3% from 2016 to 2021. It is expected that the market will recover and grow at a restored growth rate of 7.2%. This market is heavily influenced by advancing battery technology. The advancement of battery technology has led to a sharp incline in the need for better separator designs. This is because battery technology relies heavily on separators to maintain efficiency and reliability which, in turn, invites greater research and development efforts in this field as the current separators do not meet standards. Hence, the lithium ion battery separator market is expected to undergo robust growth in the upcoming years.

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The implementation of stringent government regulations regarding carbon emissions has resulted in a gradual shift from fuel-based to lithium-ion batteries for various industrial and automobile applications by manufacturers. Consequently, remunerative opportunities have opened up for the lithium ion battery separator market. Additionally, an upsurge in the consumption of smartphones, tablets, and electronic items also supplements the growth of the lithium-ion battery separator market. The introduction of electronic drivetrains and plug-in hybrid electric vehicles has led to the automobile sector focusing on the production of lithium ion battery separators. Though all of these factors invite growth for the market, it also faces certain restraints. Difficulty in transportation, availability of separators with poor resistance which results in the shutdown of batteries, and safety concerns are certain factors that will likely impede the growth of the lithium-ion battery market.

Key Takeaways in Lithium Ion Battery Separator Market:

In 2022, the North American lithium ion battery separator market accounted for 25.4% of the global market share.
The lithium ion battery separator market in Europe accounted for 19.8% of the overall market share in 2022.
By material type, the polyethylene (PE) segment held about 37.26% of the global market share in 2022 and will continue similar growth during the assessment period.
Based on thickness, the 25μm segment will generate higher demand for the market.

Competitive Landscape in Lithium Ion Battery Separator Market

Top 15 Key Companies Profiled

Asahi Kasei Group
Daramic
Entek International LLC
Targray Technology International Inc.
Freudenberg & Co. KG
Mitsubishi Plastics Inc.
TEIJIN Limited
Porous Power Technologies LLC
UBE Industries Ltd
W-Scope Corporation
SK Innovation Co Ltd
Celgard LLC
Sumitomo Chemical Company Limited
ENTEK
Natrion

In a competitive environment, leading market players are focusing on product development, innovation, and the launch of novel products. These companies also employ various expansion tactics to gain a competitive edge. For instance, in September 2022, the Mark Cuban-backed solid-state battery manufacturer launched the LISIC278 separator for traditional pouch cells.

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More Insights into the Lithium Ion Battery Separator Market

In its latest report, FMI offers an unbiased analysis of the global lithium-ion battery separator market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. This report presents a ten-year sales forecast and insights into market drivers, restraints, and opportunities. For a complete understanding of the global market potential, growth, and scope, the market is segmented on the basis of material, temperature, thickness, and region.

According to the reports, based on segmentation, the 25μm category will dominate the global marketplace. This segment will create greater demand for the market as this is the ideal thickness that is capable of transporting lithium ions while maintaining its mechanical attributes. In terms of material, the polyethylene segment will account for a significant portion of the market share. Based on region, the lithium ion battery separator market in North America will demonstrate impressive growth. In 2022, the target market in this region held about 25.4% of the global market share. The strong presence of leading battery manufacturers and battery separator organizations as well as the advancement of EV manufacturers in the US will drive the growth of the lithium ion battery separator market in North America. Europe, too, contributes to the global growth of the lithium-ion battery separator market.

Key Segments Profiled in the Global Lithium Ion Battery Separator Market

By Material:

Polypropylene Lithium Ion Battery Separator
Polyethylene Lithium Ion Battery Separator
Nylon Lithium Ion Battery Separator
Other Materials-based Lithium Ion Battery Separator

By Temperature:

10oC -25oC Lithium Ion Battery Separator
130oC-135oC Lithium Ion Battery Separator

By Thickness:

16µm Lithium Ion Battery Separator
20µm Lithium Ion Battery Separator
25µm Lithium Ion Battery Separator

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.

Contact Us:

Nandini Singh Sawlani

Global Mushroom Materials Market Set to Soar to US$ 8,015.2 Million by 2032, Revolutionizing Industries with Lightweight, Eco-Friendly Solutions

The global mushroom materials market reached a valuation of US$ 4,561 Million in 2022 and is expected to total around US$ 8,015.2 Million by 2032. The global industry size is anticipated to create lucrative growth opportunities over the assessment period by registering a CAGR of 5.8% between 2022 and 2032.

According to the historic analysis done by Future Market Insights, the global mushroom materials market witnessed significant growth, registering a CAGR of 3.0% from 2017 to 2021. The growth of the market is attributed to the eco-friendliness of mushroom materials their ease of workability, and their low weight compared to traditional materials. These attributes make it easier to carry which are known as the primary drivers for the segment’s growth. This material is fresh to the market, having emerged only in the previous decade. The mushroom materials industry is currently centered in North America.

Mushroom materials are very common and popular among various industries due to their lightweight, easy to use with, and environmentally beneficial qualities. This material is utilized in the furniture industry. But it also has the potential to generate significant income throughout the projected period. Furthermore, the widespread sustainability movement across various businesses has led to the growth of the overall mushroom materials market. They are rapidly replacing plastics in packaging solutions because they are devoid of volatile organic compounds (VOC) and are made from biodegradable components. At present, the global mushroom materials market is dominated by a few regional and domestic firms. It has been anticipated that more market competitors will enter the battle as technology advances and knowledge levels rise.

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The transportation industry is expected to make a major contribution to greenhouse gas (GHG) emissions, particularly in industrialized countries. Industrials are meticulously working in order to improve fuel economy through mass reduction. Furthermore, mushroom materials are known for their lightweightness as compared to traditional materials. This allows for simple transportation. This material is also used in the production of thermal insulators, automobile components, and sandwich panels. However, as industry participants gradually become more aware of the materials, their utilization is projected to rise. When the global mushroom materials market achieves worldwide commercialization, it has the potential to develop tenfold faster than the present global growth rate. It may even outrun the growth of advanced materials, which is now demonstrating 10% to 15% growth globally.

Key Takeaways in Mushroom Materials Market

The mushroom-based construction materials are known for their durability and are completely biodegradable. For instance, Mycelium bricks are gaining rapid traction in the building industry for use in the creation of composite boards (myco-board). Unlike medium-density fiberboard (MDF), myco-board does not contain formaldehyde.
Mycelium bricks are known to absorb carbon dioxide and they are bulletproof. This makes them an environmentally benign building material for future projects. They assist to reduce building waste since they are completely biodegradable.
On the basis of application, the mushroom material is categorized into insulating panels, building materials, protective packaging, and others. The building material segment is anticipated to grow at the fastest rate during the assessment period.
They have the ability to outlast concrete and are fully biodegradable, which makes them an environmentally friendly option. Furthermore, they help to decrease construction waste since they are fully biodegradable.

Competitive Landscape in the Mushroom Materials Market

Key players in the global mushroom materials market are focusing on broadening the applications of mushroom materials and producing new products. Owing to the worldwide trend towards sustainability, there is a propelling need for environmentally friendly products. As an alternative to polystyrene Styrofoam and cardboard packaging, we created a sustainable mushroom-based material. Here are a few start-ups brewing in the mushroom material market.

Key Companies Profiled

Ecovative Design
MycoWorks
Bonduelle Group
Costa Group
CMP Mushroom
Drinkwater Mushrooms
Greenyard
Monaghan Group
Monterey Mushroom Inc.
OKECHAMP S.A
Shanghai Fengke Biological Technology Co. Ltd.

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More Insights into the Mushroom Materials Market

The North American region is anticipated to dominate the global mushroom materials market as it accumulated the highest market share of 29.6% in 2022. In the future, it is predicted to maintain its dominance due to targeted government activities on agricultural growth and innovation, as well as the existence of significant companies in the region. The region’s mushroom business is investing in artificial intelligence (AI) to minimize labor expenses.

The Asia Pacific region is predicted to exhibit robust growth over the projection period as it accumulated a significant market share of 20% in 2022 and is expected to continue to maintain the trend over the forecast period as well.

Asia Pacific (APAC) is known for its commanding position in the worldwide mushroom material industry. China is the world’s top producer and consumer of mushrooms. The country accounts for 46% of global mushroom farming.

Key Segments Covered in the Mushroom Materials Industry Analysis

By Application:

Insulating Panels
Building Materials
Protective Packaging
Other Applications

By Feedstock:

Wood Fiber-based Mushroom Materials
Buckwheat-based Mushroom Materials
Cotton Seed-based Mushroom Materials

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.

Contact Us:

Nandini Singh Sawlani

Microwave Absorbing Materials Market Set to Soar with Rising Demands in Commercial and Military Aircraft

The global Microwave Absorbing Materials industry size is expected to enjoy a valuation of US$ 344.5 Million in the year 2022, and further expand at a CAGR rate of 6.3% to reach a valuation of ~US$ 634.6 Million by the year. Microwave absorbing materials absorb radio waves, micro waves & electromagnetic waves of wide frequency range — from 100 MHz to a millimeter or a micron wave. These materials are commonly used in stealth technology for air-space, marine & military warfare, and signal transmission & reception process. These materials also find applications as a shield from high intensity electromagnetic fields/waves generated during medical diagnostics such as MRI, CAT scans.

The properties of microwave absorbing materials include wave reflection reduction, resonance cavity reduction, and null echo. Finished products made using microwave absorbing materials find applications across defense, telecommunication, core & applied electronics industry.

Microwave Absorbing Materials Market: Segmentation & Trends

The global microwave absorbing materials market is skilled-labour-intensive with focus on new product & application developments, and diversification of existing product types a key focus area for manufacturers. The customer’s requirements range from a standard prototype to a customised one. Concept marketing and product marketing are the key go-to marketing strategies for key players in this region.

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The global microwave absorbing market has seen many acquisitions by large-scale enterprises, which has been a synergy of supporting capital & expertise in technical know-how. Industrial exhibitions, trade fairs, defense expo are the common platforms of marketing & promotion for the value & supply chain players. The market is oligopoly type, which consists of few specialised manufacturers — backed by regional distributors & suppliers with defense & telecommunication — as the major consumer markets.

Microwave Absorbing Materials Market Dynamics

The major producers of microwave absorbing materials are located in North America & other OECD group Nations. U.S. defense sector is a major consumer & one of the key drivers for the market’s evolution and growth. The electronic component manufacturing sector in the Asia Pacific region is likely to witness next wave of development over the coming five to six years, creating opportunities for microwave absorbing material manufacturers.

Microwave Absorbing Materials Market: Drivers and Restraints

Increase in spending on defense systems and sustained demand for finished electronic goods will continue to fuel the growth of the microwave absorbing materials market during the forecast period, 2016-2026. On the other hand, taxes & cess imposed on raw materials & finished goods of microwave absorbents and unfavourable export & import policies can act as a deterrent.

Microwave Absorbing Materials Industry: Key Players

Lairdtech
ESCO Technologies Corporation
ARC Technologies Inc.
Western Rubber & Supply Inc.
Cuming Microwave
Mast Technologies
Thorndike Corporation
Parker Hannifin Corp.
Panashield
Modus Advanced Inc.

The research report presents a comprehensive assessment of the microwave absorbing materials market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories, such as market segments, geographies, types and applications.

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

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Key Segments of Microwave Absorbing Materials Industry Survey

By Types:

Microwave Absorbing Films & Elastomers
Microwave Absorbing Foams
Military Specialty Microwave Absorbing Materials
Custom Magnetic Microwave Absorbers
Molded, Cast Liquids and Coatings-based Microwave Absorbing Materials

By Application:

Military & Defense
Automation
Electronics & Telecommunications
Chemicals
Textiles
Healthcare

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

Global Industrial Sodium Chloride Market Fueled by Sun Evaporation Technique and Rising End-Use Industry Demand, Forecasts Project Steady 4.2% CAGR Growth through 2032

The sales of the industrial sodium chloride market are anticipated to increase with the top 3 countries that are projected to hold approximately 30-35% of the market by the end of 2022. According to the research conducted by Future Market Insights, the global industrial sodium chloride market size is expected to grow with a phenomenal CAGR of 4.2% over the forecast period from 2022 to 2032. The global market is expected to reach a valuation of around US$ 14,513.9 Million in 2022.

It goes without saying that the pandemic has impacted all facets of society including disruptions in the worldwide supply chain which had a major impact on the market for industrial sodium chloride. However, when gradually the infection curves started to decrease in 2022, FMI predicted that the demand for industrial sodium chloride would predict a CAGR of 4.2% by 2032. One important reason for highlighting this industry’s higher growth in the forecast period is the rising global demand for sodium chloride from the chlor-alkali industry.

According to the historic analysis, the demand for industrial sodium chloride grew at a CAGR of 4.0% from 2017 to 2021. Growth in the market is attributed to the constant demand for sodium chloride from industries like steel production for the automotive industry, agriculture industry, water treatment, and other industrial uses. The production of industrial sodium chloride is a simple process. Major players in the market are employing the sun evaporation production technique. Hence, there is no requirement for additional industrial investments. Global demand for industrial sodium chloride is increasing as a result of this factor.

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Key Takeaways in the Industrial Sodium Chloride Market

The widespread expansion of sodium chloride in numerous industrial applications including soil stability, clearing ice and snow from roads, and water softening, presents providers in the global industrial sodium chloride market with a compelling demand opportunity. The demand for industrial sodium chloride is specifically strong in oil & gas, pharmaceutical, chemical, water treatment, agricultural, de-icing, and other industries.
The application of sodium chloride is widely used in chemical processing. Three prominent products that have maximum utilization of industrial sodium chloride as raw materials comprise caustic soda, soda ash, and chlorine. Sodium chloride is a vital component in the manufacture of paper and pulp, rubber, and chlorine gas.
In addition to that, it is also known as a popular source of sodium hydroxide and chlorine gas which are utilized in producing plastics, chemicals, agrochemicals, and textiles. Hence, the consumption of industrial Sodium Chloride is anticipated to increase along with the demand for these chemicals.
The industrial sodium chloride market is gaining massive traction from several end-use industries globally. The requirement for industrial sodium chloride has witnessed popularity over the recent years and has greatly expanded in the end-use industries, which include the textile, chemical processing, water treatment, agricultural, and other industrial sectors.

Competitive Landscape in the Industrial Sodium Chloride Market

Key market players in the global industrial sodium market are fragmented and the market is known to be very diverse. Due to the presence of well-known players in the market, it is highly competitive and is subjected to intense rivalry in the market. In order to stay competitive, businesses in the industry are concentrating on a range of strategies, including partnerships, mergers, acquisitions, and collaborations.

In addition to that, a large number of suppliers are attempting to improve the quality of the products they offer. All these aforementioned factors imply that the industrial sodium chloride market is anticipated to possess enormous growth potential internationally in the years to come.

To 13 Key Companies Profiled

China National Salt Industry Corporation (CNSIC)
Cargill Incorporated
The Dow Chemical Company
K+S AKTIENGESELLSCHAFT
ICL Fertilizers
The Henrique Lage Salineira do Nordeste
Dominion Salt
Tata Chemicals Ltd.
Maldon Crystal Salt Co.
Akzo Nobel N.V.
B. Braun
Aurobindo Pharma
Sandhage

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Key Segments Profiled in the Industrial Sodium Chloride Market Report

By Production Source:

Seawater
Rock Mines
Brine

By End Use:

Oil Field
Pharmaceutical
Water Treatment
Textile, Chemical Processing
De-Icing
Agriculture
Other

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

High Pressure Seal Market Fueled by Resurgent Oil & Gas Industry: Projections Suggest Expansion to US$ 8,442.1 million by 2033

The worldwide market for high pressure seals is predicted to reach a projected value of about US$ 5,036.9 million in the current year 2023. In addition to this, a stable CAGR of 5.3% in global demand for high pressure seals is predicted to continue between 2023 and 2033. As a consequence, the global market’s value is predicted to be close to US$ 8,442.1 million by the conclusion of this projection period.

The sales of high pressure seals have risen significantly from 2018 to 2022, with a noteworthy average annual growth rate of 5.3%. Based on a recent FMI survey report, the global sales of high pressure seals reached a value of about US$ 4,783.4 million in 2022. This market offers several geographical prospects as well, with distinct areas exhibiting varied growth trends.

High pressure seals are widely used in many different sectors, including oil and gas, aerospace, automotive, and manufacturing, which is driving their rising demand. These seals have become indispensable in industrial facilities as they are essential for preserving the integrity of machinery and systems that work under high pressure. The sales of high pressure seals are anticipated to increase as these industries develop and grow, driving up the sales of manufacturers in this market.

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Presently, the use of high-quality high pressure seals is getting fueled by the growing emphasis on improving operating efficiency and reducing leakage and downtime. Also, sophisticated high pressure seals that meet certain sector needs have emerged suitable in many core industries which has further boosted the market’s expansion.

“The emphasis on operational efficiency and the reduction of leakage and downtime is propelling the adoption of high-quality seals. Tailored solutions meeting specific industry needs further amplify market expansion,” – Says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Key Takeaways from the Global High Pressure Seal Market Study Report by FMI

Until the year 2022, the United States dominated the worldwide market and contributed almost 23% of the global revenue that year. To retain their market position, players in the United States are concentrating more on maintaining product differentiation, cost-effectiveness, and customer service.
Germany is the prominent manufacturer of high pressure seals in the Europe market and it held nearly 8.6% of the global revenue share in 2022.
The industrialization and infrastructural development of emerging nations in Asia is booming, increasing the need for high pressure seals in these regions. China is projected to follow a year-on-year growth rate of 5.9% in sales of high pressure seals during the years from 2023 to 2033.
India is expected to follow China in sales of high pressure seals and is anticipated to exhibit 5.6% CAGR during the forecast years.

Competitive Landscape for the High Pressure Seal Market Players

As more companies have entered the market to take advantage of the rising demand, the competition in this sector also has increased currently.

Some top market players are

AES Corporation
Smith’s Group Plc.
Garlock Sealing Technologies LLC
AB SKF
James Walker & Co
Parker Hannifin Corporation
EagleBurgmann Germany GmbH & Co. KG
Flowserve Corp.
Performance Sealing Corp.
EI du Pont de Nemours & Co.

To create cutting-edge sealing solutions that deliver improved performance and durability in difficult situations, these leading manufacturers are investing largely in research and development.

The growing need for dependable and effective seals in most industries has paved the way for the emergence of new market players in industrializing nations. Meanwhile, manufacturers who can build a large presence and distribution system in the oil-producing countries of the Middle East and Africa stand to gain greatly. Nevertheless, the requirement for ongoing innovation to suit changing industry demands is one of the main issues in such emerging economies.

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Key Segments Covered in the High Pressure Seal Industry Analysis

By Material:

Metal
Thermoplastic Polyurethane (TPU)
Hydrogenated Nitrile Butadiene Rubber (HBR)
Fluorocarbon-based Synthetic Rubber
Ethylene Propylene Dyne Terpolymer (EPDM)

By End Use:

Oil & Gas
Chemicals
Automotive
Mining
Aerospace
Power Generation
Healthcare
Others (Manufacturing, etc.)

By Region:

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

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Formaldehyde-Free Resin Market Reaching US$ 16,257 Million by 2032 Driven by Industrial Applications and Construction Boom

The global formaldehyde-free resin industry size was worth US$ 8.35 Billion in the year 2022 and is expected to reach US$ 16.26 Billion by the year 2032 at a CAGR of 6.9% between 2022 and 2032.

The characteristics of formaldehyde-free resin include robust resistance to moisture with good adhesion properties. As such, formaldehyde-free resins are used to bind fiberglass filaments in fabricating industrial nonwovens inclusive of fiberglass webs used in the insulation of roofing, HVAC filters, and floorings.

Wood adhesives are used on an extensive note in the furniture vertical and offer advantages like appropriate adhesion to wood, enhanced balance between flexibility and rigidity, and resistance to fatigue and water. There are fiberglass substrates used in automotive, infrastructure, and chemicals vertical; which are bound with adhesives providing resistance against corrosion with electrical insulation.

Advantages of resin finishing in textile vertical include enhanced dimensional stability and shape retention, smoother and softer fabric surface, simpler to iron, enhanced wet fastness of prints and dyeing, better appearance, and greater wash resistance of the mechanically produced luster (of fiber blends and the stiffening embossed finished, oil-repellents, and water-repellents).

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At the same time, the fact that the initial processing cost of formaldehyde-free resin is higher can’t be ignored. Plus, consuming carcinogenic formaldehyde could prove to be detrimental to human health. These factors could act as restraints to the formaldehyde-free resin market in the forecast period.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Formaldehyde-free Resin Market’. The team of analysts and consultants is there to execute through its 360-degree view across macros and micros.

“With formaldehyde-free resin being excessively used for insulation at residential, commercial, and industrial level, the global formaldehyde-free resin market is likely to grow well in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from the Formaldehyde-free Resin Market

North America holds a significant market share due to rising utilization of formaldehyde-free resins in several verticals like paper, plywood, textiles, coatings, and likewise.
Europe is expected to witness a substantiation in the formaldehyde-free resin market going forward due to deployment of these resins in automotive, construction, and the other verticals.
The Asia-Pacific is expected to grow at a rapid pace in the formaldehyde-free resin market due to modernization of infrastructure and rising urbanization.

Competitive Analysis in Formaldehyde-free Resin Market

Bitrez Ltd. comes across as a manufacturer of chemicals and polymers. It, recently, did announce partnership with Georgia-specific Chemicals to distribute Curaphen brand; which is inclusive of formaldehyde-free phenolic polymer resins and low phenol in the US, Canada, and Mexico.
Allnex did introduce CYMEL NF-3041 resin of late. It’s a partially n-butylated, formaldehyde-free crosslinking agent delivered in n-butanol.
Ingevity, in November 2019, did come up with AltaPrint – a phenol- and formaldehyde-free modified resin to cater to commercial packaging and printing market.
The Dow Chemical Company, in September 2019, tabled MAINCOTETM AEH-10 Acrylic Epoxy Hybrid. It’s a formaldehyde-free resin designed for creating two-component, high-performance coatings useful in commercial, residential, and industrial coatings.

Key Companies Profiled

DSM Inc.
Georgia Pacific Chemicals LLC
The Dow Chemical Company
Fraunhofer-Gesellschaft
EGGER Group
NineSigma Inc.
BASF SE
Allnex Group
Lanxess AG
Hexion

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What does the Report say?

The research study is based on application (isocyanates and oxygenates, EDC/PVC, inorganic chemicals, chloromethanes, solvents and electrolysis, pharmaceuticals, and electronics), and by end-use (paper and pulp, water treatment, chemicals, plastics, pesticide, and durable pipes).
With formaldehyde-free resin being deployed at a larger scale in developing long-lasting structures and high-rise skyscrapers (in the form of a concrete plasticizer), the global formaldehyde-free resin market is slated to witness grandeur in the upcoming period.

Key Segments Covered in the Formaldehyde-free Resin Market Report

By Product Type:

Wood Adhesive Formaldehyde-free Resin
Foil Bandaging Adhesive Formaldehyde-free Resin
Fiberglass Adhesive Formaldehyde-free Resin
Mineral Fiber Adhesive Formaldehyde-free Resin

By End Use:

Formaldehyde-free Resin for Residential Insulation
Formaldehyde-free Resin for Commercial Insulation

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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Nandini Singh Sawlani

Global Flue Gas Desulfurization System Market Set to Surge to US$ 36,593.3 Million by 2033, Propelled by Environmental Imperatives and Growing Energy Needs

The flue gas desulfurization system market share is forecasted to thrive at a CAGR of 5.1% from 2023 to 2033. The global market size is slated to surpass a valuation of US$ 22,252.3 million in 2023 and is anticipated to clock a valuation of US$ 36,593.3 million by 2033.

Flue gases from power stations, industrial facilities, and other sources that burn fossil fuels are processed using a method called flue gas desulfurization (FGD) to reduce sulfur dioxide (SO2) emissions. To combat air pollution and minimize hazardous emissions, governments throughout the world are enacting strict environmental laws. Sulfur dioxide is a significant atmospheric pollutant that causes acid rain and has detrimental effects on human health. Industries have been implementing FGD systems to considerably reduce SO2 emissions in order to fulfill emission limits and comply with environmental laws. Implementation of further governmental regulations is expected to proliferate market growth during the forecast period.

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In addition to removing SO2, FGD systems are also able to lower dangerous pollutants like particulate matter (PM), nitrogen oxides (NOx), and mercury (Hg). The potential of FGD systems as a component of a multi-pollutant management approach has been recognized by governments and businesses, making them a preferred method of minimizing environmental effects as a whole. The increasing adoption by end-user industries is predicted to bolster market growth.

The global quest for cleaner, more sustainable energy sources has resulted in the incorporation of renewable energy and the eventual retirement of older, more polluting power plants. By lowering emissions from existing fossil fuel-based power plants, FGD systems serve a crucial role in bridging the transition phase as greener energy sources gain popularity.

Key Takeaways from Flue Gas Desulfurization System Market Report:

In 2018, the global market size stood at US$ 17,619.2 million.
The market expanded at a CAGR of 4.7% from 2018 to 2022.
In 2022, the global market size stood at US$ 21,172.5 million.
The wet flue gas desulfurization system segment captured 34.6% of global market shares in 2022.
The flue gas desulfurization system for the power generation segment acquired 57.80% of global market shares in 2022.
India captured 5.2% of global market shares in 2022.
The United States captured 21.8% of global market shares in 2022.
China captured 17.1% of global market shares in 2022.
The United Kingdom captured 2.3% of global market shares in 2022.

Recent Development Observed by FMI:

GE announced its plans to reduce emissions at Anuppur Thermal Power Plant by 51000 tons of SO2 in January 2022. Apollo International Limited will supply MB Power (Madhya Pradesh) Ltd. with electricity as part of the partnership. The power source, General Electric (GE), also provided critical components and designed the entire Wet Flue Gas Desulfurization (WFGD) system for the 2X600 MW Anuppur Thermal Power Plant in Madhya Pradesh. GE plans to eliminate 51,000 tons of SO2 annually and clean 7.4 million cubic meters of flue gas per hour as part of India’s effort to lessen the environmental impact of thermal power facilities. The project is going to allow the end-user to comply by 2024 with SO2 emission standards for thermal power plants.

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Key Players in the Global Market

Babcock & Wilcox Enterprises Inc.
Masulex Environmental Technologies
FLSmidth & Co. A/S
Thermax Limited
Clyde Bergemann Power Group
Burns & Mcdonnell
Alstom SA
Mitsubishi Electric Corporation Ltd.
Hamon Corporation
Valmet
DUCON Infratechnologies Ltd.
GE Power India Limited
Tata Projects
NTPC Limited

Flue Gas Desulfurization System Market Segmentation

By Type:

Wet Flue Gas Desulfurization System
Dry Flue Gas Desulfurization System
Semi Gas Flue Gas Desulfurization System

By Application:

Power Generation
Chemical Processing
Iron and Steel
Cement Manufacturing
Others

By Region:

North America
Latin America
Europe
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.

Contact Us:

Nandini Singh Sawlani

Green Electronics Manufacturing Market Soars: Projected 26.14% CAGR to Reach US$177.01 Billion by 2033

The Green Electronics Manufacturing Market is set for a remarkable upswing, with projections showing a robust Compound Annual Growth Rate (CAGR) of 26.14% between 2023 and 2033. Starting at US$ 17.36 billion in 2023, the market is forecasted to soar to an impressive US$ 177.01 billion by 2033.

With the environmental revolution gaining momentum, electric motor controls are demanding greater efficiency from industrial motors. Furthermore, increased integration at the lowest possible cost is critical for promoting new technology market penetration as well as improving safety and dependability. This raises the demand for electrical components used in digital signal controllers in smart motors to control voltage.

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Furthermore, Industry 4.0 promises significant gains in manufacturing data automation efficiency and production. Growth is being fueled in part by parallel advancements in industrial IoT and artificial intelligence (AI). Although the electronics industry is still a long way from achieving the same level of intelligence and automation as the automotive industry, recent trends in the electronics manufacturing services sector demonstrate the evolution toward Industry 4.0.

This market is being propelled forward by the production of electronics for industrial automation. Players in industrial automation want consistent access to all data generated on the system. Because of the size of many operational utility applications, gathering this level of data is difficult. Regions such as Europe and North America are rapidly implementing Supervisory Control and Data Collection systems to collect precise data.

Most SCADA systems are made up of single-board remote terminal units (RTUs), which are tiny, ruggedized devices that house all input/output (I/O) modules on a single printed circuit board. As a result, the growing use of SCADA in the utility industry pushes up demand for EMS.

Key Points from the Green Electronics Manufacturing Market

The market is expected to surpass US$ 177.01 billion by 2033.

The ever-increasing popularity of products such as smartphones, smart TVs, laptops, ovens, refrigerators, air conditioners, and tablets, as well as the growing need for faster and more efficient manufacturing processes, are driving market expansion.
Green electronics manufacturing market is expected to grow at a CAGR of 26.14% during the forecast period 2023 to 2033.
Asia Pacific dominated the green electronics manufacturing market.

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Key Development in the Green Electronics Manufacturing Market

January 2022 – Samsung Electronics said that it intends to use 100% renewable energy in all of its plants, offices, and data centers in the United States, Europe, and China by 2025.
December 2021 – Apple Inc. announced a new carbon removal project, with the goal of eliminating more carbon from the atmosphere than the firm creates. A $200 million fund is established as part of the proposal to invest in forestry initiatives.
October 2021 – LG Electronics revealed its intention to attain carbon neutrality by 2030. The corporation intends to cut greenhouse gas emissions by half by 2020.
September 2021 – Dell Technologies launched its new sustainability plan, Progress Made Real: 2030, with goals of reducing greenhouse gas emissions by 50%, using 100% recycled or renewable materials in its products by 2030, and advancing the circular economy.
March 2021 – Ouster, Inc. collaborated with Benchmark Electronics, Inc. to increase the production of its high-resolution digital LIDAR sensors for smart infrastructure, robotics, industrial automation, and automotive industries. To increase production, the company is leveraging Benchmark Electronics, Inc.’s capabilities in PCB assemblies, optics, microelectronics, and automated testing.

Competitive Landscape

Investments, partnerships, acquisitions, and mergers are all attempts by market participants to enhance their market share. Businesses are also investing in the development of new products. They are also focused on keeping competitive pricing.

Electrical product manufacturers have taken steps towards a greener future by redesigning their goods to expedite procedures and boost product reusability and recycling rates. Companies have also begun to use clean delivery tactics to promote minimal trash generation, which boosts supply chain efficiency. Electronics manufacturers are encouraged to reduce e-waste by designing devices that lower the number of dangerous substances.

Among the Key Market Participants are:

Apple Inc.
Samsung Electronics Co., Ltd.
Dell Technologies Inc.
Sony Corporation
LG Electronics Inc.
HP Inc.
Panasonic Corporation
Siemens AG
Toshiba Corporation
General Electric Company

Green Electronics Manufacturing Market Key Segment

By Technology :

for Lead-Free
for Halogen-Free

By Application :

for Electronics
for Portable electronics
for Industrial
for Automotive

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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