Market Research Blog – Page 3183 – New Product Development

Fast Food Containers Market to Capture a CAGR of 5.3%, Totaling US$ 84.56 Billion by 2033 | FMI

The global fast food containers market was worth US$ 47.91 billion in 2022 and is projected to be worth US$ 50.45 billion in 2023. Fast food container sales are expected to climb at a 5.3% CAGR, attaining US$ 84.56 billion by 2033.

Convenience Factor Accelerates Market Expansion for Fast Food Container

The convenience of carrying, packing, and consumption has driven demand, which has become increasingly significant to consumers. Manufacturers in the market must adapt to their customers’ changing lifestyles. The global market is expected to increase due to the evolving lifestyles and hectic schedules among working people. Consumption of processed and packaged goods is expanding, adding to the demand.

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Plastic containers are expected to develop at the most rapid pace of all materials due to their advantages over conventional materials. Since they offer many benefits, including aesthetic appeal, freshness preservation, convenience, product uniqueness, and branding potential, bags, and pouches are well-liked. These traits help explain why the demand for plastic food containers is growing so quickly. This aspect boosts market CAGR.

The food service industry is notorious for its instability, as consumer tastes and preferences always change. The demand for quick and packaged foods has increased significantly in recent years. This trend is driven by the need for quick meals that save time in the kitchen.

Fast food containers are critical in providing secure packaging that is easy to handle and supports primary consumption. Food containers help to keep food fresh and nutritious for longer periods. The rising desire for simple and disposable packaging is a key driver of fast food container sales.

E-Commerce Surge Fuels Demand: Fast Food Containers in the Digital Age

Another important aspect driving the growth of the fast food container market is the preservation of food quality. These containers keep food fresh and maintain quality, providing consumers with a dependable storage solution. The advent of the e-commerce sector has significantly impacted the fast-food container industry.

The increase in online food sales, facilitated by e-commerce, stimulates demand for food storage containers, generating considerable prospects for fast food container market growth.

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Regional Outlook

According to FMI, India’s fast food containers market is set to expand due to the paper industry’s expansion, eco-friendly packaging demand, and rising fast food consumption. Lower-cost materials like paper and paperboard contribute to India’s thriving food packaging sector.

The United States fast food container industry thrives, fueled by packed food preference, longer shelf life, and rigid packaging trends. Leading chains like Burger King and Starbucks boost United States fast food container sales. Increasing fast food packaging and consumer trends compel market expansion for fast food containers in both countries.

Key Takeaways

Based on material, the paper & paperboard sector might keep capturing the fast food containers market, accounting for 65% of the market by 2033.
Hotels, restaurants, and cafes may continue to be the most profitable end-user market, with a US$ 24.9 billion incremental opportunity for expansion between 2023 and 2033.
The Indian market is predicted to boom at a 7.0% CAGR between 2023 and 2033, targeting a valuation of US$ 5.46 billion by 2033.
The fast food containers market in the United States is expected to increase at a 5% CAGR between 2023 and 2033, producing an incremental opportunity of US$ 6.41 billion by 2033.

Competitive Landscape

The top fast food container manufacturers are making significant investments in research and development to diversify their product offerings, which may encourage market expansion. Fast food container manufacturers engage in various strategic actions to increase their worldwide reach.

Important market trends include introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies. The fast food containers industry must provide affordable products to grow and thrive in a more competitive and challenging market environment.

Recent Developments

In May 2022, Crown Holdings, Inc. announced plans to boost metal recycling rates in key markets, targeting 70% in the United States and 80% in Europe and the Middle East. Collaborating with Every Can Count, their sustainability efforts aim to benefit the fast food container market’s growth and environmental viability.
In January 2022, Smurfit Kappa introduced an innovative, eco-friendly fast food box that safeguards food freshness and aroma, offering a sustainable substitute to single-use plastics, potentially revolutionizing the takeaway food packaging industry.

Key Segments

By Material:

Paper & Paperboard
Glass
Plastic
Metal

By Product Type:

Boxes
Jars
Clamshells
Bottles
Cans
Cups & Tubs
Trays

By End Users:

Hotels, Restaurants & Cafes
Retail Food Chains
Cinemas
Institutional
Canteens

By Region:

North America
Latin America
Europe
South Asia
East Asia
The Middle East & Africa
Oceania

About Future Market Insights Inc. (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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Advanced Aerospace Coating in Europe Industry Forecasted to Reach US$ 846.47 Million by 2034, Fueled by Innovations and Regulatory Shifts Driving Demand Surge

Increasing demand for efficient and lightweight advanced aerospace coatings is expected to be a major factor driving the demand for advanced aerospace coatings in the Europe market during the forecast period from 2024 to 2034. Europe advanced aerospace coatings market was evaluated at just over US$ 519.66 million in 2024, which is anticipated to register a CAGR of 4.5% through 2034.

The report provides comprehensive information on market trends, value (US$ Mn) and volume (‘000 Li), competition, recent developments, and dynamics in Europe advanced aerospace coatings market for the duration between 2024 and 2034.

Rising Aircraft Production & Expanding Fleet Size Continues to Generate Sustained Demand for Advanced Aerospace Coatings in Europe

Europe’s increasing air passenger traffic has been leading to an increase in the demand for commercial aircraft. This, in turn, has led to an increase in the production of commercial aircraft. The growth of the advanced aerospace coatings market is directly dependent on the total aircraft production and the fleet size.

Rising production and sales of aircraft, particularly in developing countries within the region are anticipated to create noteworthy opportunities in Europe’s advanced aerospace coatings market. Increasing aircraft deliveries by leading manufacturers such as Airbus and Boeing are underpinning substantial additions to the existing aircraft fleet size of Europe.

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Progressing Scenario within MRO Segment to Majorly Influence Europe’s Advanced Aerospace Coatings Market Growth

As the number of aircraft that are in service is increasing constantly, the report prompts the subsequent rise in demand for maintenance, repair, and overhaul (MRO) of various aircraft parts, components, and vital systems. This, according to FMI, will trigger the revenue growth of the MRO sales channel within Europe’s advanced aerospace coatings market during the forecast period.

The MRO sales channel of the commercial segment of the Europe advanced aerospace coatings market is projected to grow at a 5.9% value CAGR during the forecast period. Increasing fleet size of commercial as well as business aircraft and high demand for customized exteriors are some of the other factors driving the growth of the advanced aerospace coatings MRO sales channel.

Aftermarket Sales of Advanced Aerospace Coatings in Europe to Gain Uptick with Soaring Demand for Leased Aircraft

An aircraft is one of the most expensive commodities, a number of small airline carriers prefer to lease from major players. While leasing aircraft helps these airline carriers avoid high capital investments, they generally tend to renovate the entire aircraft before putting it into operation. The entire aircraft cabin is renovated according to specific requisites of respective airline carriers and their customer demands.

More often, a leased aircraft is coated with multiple paints and colors, highlighting the symbol and logo of particular airlines. According to the report, the increasing rate of aircraft leasing will continue to push the growth of the advanced aerospace coatings market in Europe.

Rapid Sales of Advanced Aerospace Coatings Continue to Suffer from Relatively Gradual Growth of European Economies, Post-Crisis

Post the financial crisis, economic growth has slowed down, as compared to the growth registered prior to the financial crisis. Wage growth has been weak and most of the industrial work has been outsourced to emerging economies, which has made industrial investment in developed economies weak. This, in turn, has been restraining the growth of the advanced aerospace coatings market.

Democratic uprisings, such as the Arab Spring, economic sanctions against Russia and the involvement of Ukraine in a proxy war, have pushed many countries into economic turmoil. The market in these nations has been deteriorating exponentially and in recent times, these markets have been exhibiting a moderate growth scenario. Due to the economic crisis, the purchasing in these countries has come down drastically and subsequently, the demand for advanced aerospace coatings has suffered.

Advanced Aerospace Coatings Market – Competition Landscape

The Europe advanced aerospace coatings market is consolidated with the top two market players (Akzo Nobel and PPG Industries Inc.) accounting for double-digit market shares as of 2017. The top ten players in the Europe advanced aerospace coatings market are projected to collectively account for between a 50% and 60% market share.

In the recent past, the advanced aerospace coatings market has witnessed significant improvements from a competition perspective. Acquisitions, collaborations and expansion of production capacity are some of the key strategies being adopted by market players to expand and sustain in the Europe advanced aerospace coatings market.

Praxair, Inc. and GE Aviation opened a new facility in the US for their PG Technologies business that specializes in advanced coatings and enables jet engines to withstand high stress and temperatures
PG Technologies Ltd. announced that it intends to add a new additional coating capacity in Singapore to meet the ever-increasing demand from the aviation industry
Akzo Nobel opened a specialty coatings facility in Dongguan, China, primarily for the production of advanced aerospace coatings for South and North Asia aviation markets

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Industry Segment of Advanced Aerospace Coating in Europe

By Product Type:

Primer
- Epoxy
- Polyurethane
- Others
Topcoat
- Epoxy
- Polyurethane
- Others
Solvent
Ceramic Coatings

By Application:

Interior
Exterior

By End Use:

Commercial
- OEM
- MRO
General & Business
- OEM
- MRO
Military
- OEM
- MRO

By Country:

Germany
Italy
France
United Kingdom
Spain
Russia
NORDICS
Rest of Europe

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Low Code Development Platform market is Projected to Reach a Valuation of US$ 259,922.1 Million by 2033,

The adoption of Low Code Development platform Market is expected to increase at a CAGR of 28.4% during the forecast period. The Low Code Development Platform market size is anticipated to rise from US$ 21,363.5 Million in 2023 to US$ 259,922.1 Million in 2033.

A low-code development platform (LCDP) is a coding environment that enables developers of varying levels of expertise to build applications using a dynamic graphical user interface and configuration in conjunction with model-driven logic.

One of the key factors propelling the expansion of the low-code development platform market is the advancement of the digital transformation in the IT and telecom sectors.

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By delivering business applications more quickly, low-code tools enable businesses to expand their efforts in digital transformation. Low-code tools also significantly shorten the time needed for innovation.

The fourth industrial revolution is creating significant growth prospects for the low-code development platform industry, as is the paradigm change toward a digital workspace that makes use of new technology.

Key Takeaways from Market Study

Low-code and no-code tools appear to be the best option for small and medium-sized businesses outside of IT. It is especially relevant for users who want to achieve their business objectives quickly, efficiently, and affordably by utilising modern technology.
With the increasing incorporation of low-code platforms in the region, particularly in China, Asia Pacific is expected to record the highest CAGR of more than 26.8%. Several local vendors across all major verticals are utilising these platforms to speed up application delivery, expand developer taskforces, reduce operating costs, and boost innovation.
E-commerce businesses are constantly looking for ways to increase sales while remaining cost-effective. Low-code and no-code platforms have proven to be useful tools for managing the e-commerce ecosystem on a budget. These technologies are becoming increasingly popular in the digital ecosystem.
Low-code platforms are becoming an important part of existing web-based platforms in many organisations, allowing them to improve their strategy while reducing cost and complexity. Mendix on IBM Cloud, App Maker on Google Cloud Platforms, and PowerApps on Microsoft are some well-known low-code platforms from major web-based service providers.
As the application becomes more progressive, a suitable level of technical background will be required. This means that time is required to educate and become acquainted with the low-code software. As a result, there is an increased demand for low-code specialists.

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Competitive Landscape

The low-code development platform industry is moderately fragmented, with a large number of participants, considerable legislative framework worldwide, and smaller vendors collectively controlling a big portion of the market. Market players with substantial financial resources are actively engaged in strategic M&A activities, while smaller businesses focus on product innovation methods to increase market share.

Some of the Key Players Operating in Low Code Development Platform Market Include:

Salesforc
Appian
Mendix
Microsoft
Pegasystems
Zoho
OutSystems
Oracle Corporation
ServiceNow
TrackVia, and K2.

Latest Developments in the Low Code Development Platform Market

In January 2022 – UST announced that it had earned the Microsoft Low Code Application Development advanced specialisation. Microsoft’s advanced specialisation is a significant credential for its partners who meet high specialisation, service delivery, and support standards.
In November 2021 – OutSystems unveiled a next-generation application platform, allowing development teams to create cutting-edge cloud applications. The new platform, codenamed Project Neo, provides organisations with the next level of application scale and developer productivity required to compete in a cloud-first world.

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global Low Code Development platform market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Market Segments Covered in Low Code Development Platform Market Analysis

By Solutions:

Platform
Services

By Deployment:

On-Premise
Cloud-Based
Web-Based

By Enterprise Size:

Small Offices
Small Enterprises
Medium-Sized Enterprises
Large Enterprises
Very Large Enterprises

By Industry:

Services
Distribution Services
Public Sector
Finance
Manufacturing and Resources
Infrastructure

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)

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Clean Steam Separator Market Set to Surge with 3.1% CAGR Over the Next Decade, Reaching $3.4 Billion by 2033

The Clean Steam Separator Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Clean Steam Separator market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Clean Steam Separator. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global Clean Steam Separator market is gearing up for an exciting decade ahead, poised to achieve a remarkable Compound Annual Growth Rate (CAGR) of 3.1% from 2023 to 2033. With a starting market valuation of US$ 2.5 billion in 2023 and a projected valuation of US$ 3.4 billion in 2033, the industry is on the precipice of substantial growth and transformation.

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Driving Factors for Global Market Growth:

Technological Advancements: Cutting-edge innovations are reshaping the industry landscape. The relentless pursuit of technological excellence is propelling companies to offer more sophisticated and efficient solutions, thereby expanding their market reach.
Growing Demand: Escalating consumer demand for our products and services is a primary catalyst behind our projected growth. As global demographics evolve, we anticipate an upsurge in demand, especially from emerging markets.
Strategic Partnerships: Collaborations and partnerships with key industry players have positioned us to capitalize on synergies, leverage expertise, and access new markets, resulting in substantial growth opportunities.
Market Diversification: Our commitment to diversify our product and service portfolio allows us to tap into multiple industries and niches, mitigating potential risks and optimizing growth potential.
Sustainable Practices: Our unwavering commitment to sustainability aligns with the global trend towards environmentally responsible practices. This not only resonates with conscious consumers but also opens doors to sustainable business opportunities.
Global Economic Stability: Favorable economic conditions and stable financial markets provide a conducive environment for investments and expansion, bolstering our growth prospects.

Challenges and Restraints:

Regulatory Compliance: Increasing regulatory scrutiny demands a proactive approach to compliance, which can pose challenges in terms of resource allocation and adaptation to evolving standards.
Global Supply Chain Disruptions: The market is not immune to supply chain disruptions caused by unforeseen events, such as geopolitical tensions or natural disasters. A robust risk management strategy is imperative to mitigate these disruptions.
Competition Intensification: As the market grows, so does the competition. Maintaining a competitive edge requires continuous innovation and differentiation, which may strain resources.
Evolving Consumer Preferences: The market’s dynamism is mirrored in evolving consumer preferences. Keeping pace with these changes requires agility and adaptability.

Key Takeaways:

Global Food and Beverage Sector: The expansion of this sector is creating a substantial demand for efficient steam separators. Key benefits driving this demand include reduced waste, minimized downtime, risk reduction, contaminant removal, and consistent product quality.

Chemical Processing Sector: Another significant consumer of steam separators is the chemical processing industry. The product helps prevent issues like corrosion, scale build-up, and fouling, which can damage equipment. It also enhances heat transfer in steam boilers, leading to higher overall efficiency.

Diverse End-Use Sectors: The product’s increasing demand spans various end-use sectors, demonstrating its versatility. This broad adoption across industries is expected to be a pivotal factor in the market’s growth throughout the forecast period.

Competitive Landscape

Market players are strategically positioning themselves through a range of tactics such as mergers & acquisitions, partnerships, collaborations, and product launches, thereby bolstering their market presence.

Recent Developments:

In July 2022, Eaton, a prominent power management entity, successfully concluded the acquisition of a 50% stake in the circuit business of Jiangsu Huineng Electric Co. Ltd., a leading manufacturer and marketer of low-voltage circuit breakers in China.
In the same month of July 2022, Spirax-Sarco Engineering made an announcement regarding negotiations to acquire the Vulcanic Group of Companies from Qualium, a distinguished French private equity firm, in an all-cash transaction. Vulcanic stands as the premier supplier of tailored industrial electric heating products across Europe, further enhancing Spirax-Sarco Engineering’s market position.

Key Players:

Eaton
Didion Separator
Colton Industries
Kelburn Separation Specialists
Cole Industries Inc.
Spirax-Sarco Engineering plc
Forbes Marshall
Kadant Inc.

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Clean Steam Separator Market by Category

By Type:

Cast Steel Clean Steam Separator
Stainless Steel Clean Steam Separator
Aluminum Clean Steam Separator
Bronze Clean Steam Separator
Other Clean Steam Separator

By Structure Type:

Flanged Clean Steam Separator
Fabricated Clean Steam Separator
Flanged and Fabricated Clean Steam Separator
Others Clean Steam Separator Structure Types

By End Use:

Utilities
Chemical Processing
Oil and Gas
Food and Beverage
Paper and Pulp
Pharmaceuticals
Other End Uses

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Global Asphalt Mixing Plants Market Set to Reach a Staggering US$ 5.2 Billion by 2033, With a 2.8% CAGR

The asphalt mixing plants Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the asphalt mixing plants market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for asphalt mixing plants. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

In the realm of infrastructure, the world is paving the way to the future, and at the heart of this transformation lies the global asphalt mixing plants market. Anticipated to attain a valuation of US$ 4.6 billion by 2023, this thriving industry finds itself at the crossroads of unprecedented growth and undeniable challenges.

Driving Factors Fueling Market Expansion:

Unprecedented Road Construction Surge: The global asphalt mixing plants market is on the fast track to success, primarily driven by the surge in road construction activities across the globe. Countries are investing extensively in expanding and upgrading their road networks to meet the demands of an ever-growing population and increasingly urbanized world. This fervent pursuit of connectivity has become the cornerstone of economic development, catalyzing the growth of the asphalt mixing plants market.
Infrastructural Development Unleashed: The global economic landscape is undergoing a profound transformation with infrastructural development taking center stage. Emerging economies are embracing ambitious projects, ranging from highways to airports and beyond, thus creating an insatiable demand for high-quality asphalt mixing plants. These machines stand as the linchpin of these projects, propelling the industry to unprecedented heights.
Environmental Concerns Meet Technological Advancement: As the world grows cognizant of environmental impacts, the asphalt mixing plants industry is not lagging behind. Technological innovations are ushering in a new era of sustainability. Modern asphalt mixing plants are designed to minimize emissions and reduce energy consumption. This eco-conscious approach resonates with both governments and environmentally conscious consumers, acting as a compelling catalyst for market growth.

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Restraints Challenging Market Progress:

Raw Material Price Volatility: A significant restraint on the path to market glory is the volatility in raw material prices. Asphalt production relies heavily on the availability and cost of raw materials like bitumen. Fluctuations in these prices can significantly impact profit margins and operational stability, thereby posing a formidable challenge to market players.
Regulatory Hurdles: The global asphalt mixing plants market is navigating through a labyrinth of regulatory hurdles. Governments worldwide are tightening environmental regulations and imposing stricter emission standards, forcing manufacturers to invest heavily in compliance measures. These regulatory constraints can impede market growth by increasing production costs and lead times.
Intensified Competition: The relentless pursuit of market dominance has given rise to intense competition. Established players and newcomers alike are vying for market share, leading to price wars and reducing profit margins. This cutthroat competition necessitates constant innovation and strategic maneuvering to stay ahead.

Key Takeaways:

Global Asphalt Production on the Rise: The increase in asphalt production worldwide is a key driver of market demand.
Investment in Road Infrastructure: Countries like India, Vietnam, and the Philippines are poised to make substantial investments in road construction and improvement projects, boosting the demand for asphalt.
Urbanization Spurs Growth: Rapid urbanization has led to significant growth in urban centers, with people migrating from rural areas to cities. This trend is contributing to increased disposable incomes and greater private vehicle ownership.
Private Vehicle Ownership: The rise in disposable incomes is expected to drive higher private vehicle ownership rates. This, in turn, will lead to increased demands on road infrastructure, especially in countries like China and India.

Competitive Landscape

In August 2022, Construction Partners, Inc. (ticker symbol: ROAD), a vertically integrated civil infrastructure company specializing in constructing and maintaining roadways across five southeastern states, made a noteworthy announcement. They disclosed their acquisition of Southern Asphalt, Inc., headquartered in Conway, South Carolina. This strategic move resulted in the addition of two hot-mix asphalt plants and the incorporation of over 200 skilled employees into their workforce, strengthening their presence in the Myrtle Beach, South Carolina metropolitan area.

Furthermore, in August 2021, two prominent entities, Berkshire Engineering Supplies (BES) and R&G Cooper (RGC), united to create Bulldog Plant & Equipment Ltd. This groundbreaking collaboration established Bulldog Plant & Equipment Ltd as the unparalleled leader in its field within Britain. The company is poised to ascend to the pinnacle of large-scale production plant providers, serving the construction materials, engineering, and energy sectors.

In March 2022, Astec Industries made a significant strategic move by entering into an agreement to acquire MINDS Automation Group (MINDS). MINDS is a trailblazer in plant automation control systems and cutting-edge cloud-based data management solutions specifically designed for the asphalt industry. This acquisition further solidifies Astec Industries’ position as an industry leader in asphalt technology and innovation.

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Key Players:

Speco Limited
Nikko Co. Ltd.
Ammann Group Holding AG
GP Gunter Papenburg AG
Lintec & Linnhoff Germany GmbH
Benninghoven GmbH & Co. AG
Aztec Industries Inc.
Marini S.p.A
Capious Roadtech Pvt. Ltd.

Asphalt Mixing Plants Market by Category

By Process:

Asphalt Mixing in Batches
Continuous Asphalt Mixing

By Product:

Portable Asphalt Mixing Plants
Stationary Asphalt Mixing Plants

By Application:

Asphalt Mixing Plants for Road Construction
Others

By Capacity:

Below 50T/H Asphalt Mixing Plants
50-150T/H Asphalt Mixing Plants
151-300T/H Asphalt Mixing Plants
Above 300T/H Asphalt Mixing Plants

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Tire Materials Market Forecasts Moderate Growth Despite Pandemic Setbacks, Emphasizing Crucial Role in Vehicle Durability and Road Safety

The tire materials market is predicted to grow at a moderate 4% CAGR between 2022 and 2028, according to projections. The coronavirus outbreak has had a detrimental influence on the tire repair materials business. Short-term growth is being hampered by the suspension of car production in many regions of the world, as well as decreased activity in the aftermarket. However, because of the high number of existing vehicles, demand for tire repair supplies such as sealants and patches is likely to keep the business afloat during the crisis.

Tire materials are critical components in tire manufacture that influence performance and safety. Natural rubber, synthetic rubber, fabric, steel, and chemicals are all important materials. These materials assure tire endurance, grip, and wear resistance, resulting in optimal vehicle performance and road safety for drivers all over the world.

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“Tire manufacturers are pushing for cost cutting and monetary saving strategies involving materials input costs. Choosing between sustainability with natural rubber, against conventional synthetic rubber materials will have a large bearing on near future market developments, including that of the tire repair materials market,” says the FMI study.

Tire Materials Market – Important Takeaways

Synthetic rubber elastomers such as styrene-butadiene rubber are highly popular for tire production owing to their high resistance to wear and rolling.
Radial repair materials are expected to contribute substantially to revenue on the back of efficacy from heat and chemical cure options.
Asia Pacific is a fast-growing, dominant market for tire materials supported by the burgeoning regional automotive industry, led by China as a major tire-producing market.

Tire Materials Market – Driving Factors

Growth of the automotive aftermarket, particularly in ASEAN countries has contributed to sales of tire repair materials.
The transition towards hybrid and electric vehicles in the near future will generate lucrative growth opportunities for manufacturers.
Favorable government policies and investments in improving fuel efficiency will provide impetus to the market.

Tire Repair Materials Market – Leading Constraints

Environmental concerns associated with the improper disposal of tires is a major obstacle to market growth.
Consumer bias towards new tires and the resultant reduction in used tire sales hurt prospects of tire repair materials.

Expected Impact on Market by Coronavirus Outbreak

The tire materials market is expected to witness a short-term slump during the coronavirus pandemic. Government-imposed suspension of activity in the automotive industry internationally has reduced demand for tires and associated materials. The decline in aftermarket activity during this period has also negatively influenced market players. Recovery is likely to be slow even as automotive OEMs restart operations, as buyers remain hesitant to invest in vehicles in an atmosphere of global economic uncertainty.

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Competition Landscape

Some of the leading players participating in the tire materials market are

Solvay SA
Lanxess AG
Exxon Mobil Corporation
JSR Corporation
Cabot Corporation
Birla Carbon
Evonik Industries AG

Players in the tire materials market are investing in research & development efforts for new material options largely focusing on sustainability and energy efficiency in use and production processes.

For instance, JSR Corp. has unveiled its HPR9 series of high-performance tire materials as a part of its ultra-fuel-efficient summer tire portfolio. Goodyear has announced a new project for the development of tires from soybean oil for sustainable production. Waterfront has revealed its intention to build a tire recycling plant in the UK to extract hydrocarbons and carbon black for reuse.

Key Segmentation

By Material Type:

Natural Rubber
Synthetic Rubber
Fillers
Process Chemicals
Steel Cords
Textile Cords

By Tire Types:

Solid Tire
Pneumatic Tire
Retreated Tires

By Vehicle Types:

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Wheelers

By Region:

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

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Counter Bags Market is Expected to Reach at a US$ 2,155.4 Million by 2033 | FMI

As per the FMI survey, during the historical period between 2018 and 2022, the overall market had a consistent annual average growth rate of 3.7%. In the year 2022, the net worth of total counter bags sold globally reached an impressive US$ 1,370.8 million.

The worldwide consumption of counter bags is expected to sum up to a value of US$ 1,428.4 million in the current year 2023. Counter bags are used often for delivery and takeout due to the expansion of the retail and hospitality industries which is driving up the demand.

In recent years, the market is also growing because of the increasing need for food and beverage packaging over proliferating online food delivery services.

The rising trend of counter bags from 2023 to 2033 is anticipated to continue at a strong CAGR of 4.2%. Following this promising CAGR, the whole market value is expected to grow to an astounding US$ 2,155.4 million by the end of the year 2033.

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Traditional plastic bags are composed of polyethylene (PE) or polypropylene (PP) due to their affordability and robustness, which constitute a sizable portion of the overall market. On top of that, certain counter bags are made to be repeatedly used, which lessens the demand for single-use bags and encourages sustainability.

These days, demand from customers and legislation has led to a spike in the production of sustainable and eco-friendly counter bags manufactured from recyclable materials. However, manufacturers of eco-friendly bags may face difficulties as a result of fluctuating raw material costs, which can impact manufacturing costs and profit margins.

Key Takeaways from the Global Counter Bags Market Study Report by FMI

According to FMI estimates, the global market could experience an absolute dollar growth of US$ 727 million over the next ten years.
Currently, the demand for counter bags is high in the North America region followed by Europe’s market.
As the retail sector is expanding fast in Asia Pacific countries, counter bags are becoming popular in the region. China, for instance, is poised to witness a high growth rate in the production and export of counter bags in the coming days.

Competitive Landscape for the Counter Bags Market Players

Newly emerging market players may show their dedication to environmental management and sustainability by marketing their eco-friendly counter bags. This can also improve their brand’s recognition and draw in customers aiding them in competing at a global level.

Recent Developments by the Counter Bags Manufacturing Industries

Sealed Air Inc. announced in January 2023 to acquire Pactiv Evergreen Company, a top producer of counter bags with extensive distribution channels. With this acquisition, Sealed Air might increase the range of products it offers and attract new clients and increase its market dominance in the long run.

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Sterilite Company, an established counter bag supplier in the global market, announced the introduction of a new range of antimicrobial counter bags in October 2022. The antimicrobial ingredient used in this new range of counter bags helps to stop the transmission of germs and protects food and other goods from infection.

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Combined Cooling Heat and Power Plant Market at a 5.8% CAGR, Aiming for US$ 4.0 Billion by 2033

The Combined Cooling Heat and Power Plant Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Combined Cooling Heat and Power Plant market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Combined Cooling Heat and Power Plant. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Combined Cooling Heat and Power Plant market has experienced remarkable growth in recent years, fueled by the surging demand for sustainable and dependable energy solutions. Across the globe, governments and industries alike have come to acknowledge the manifold advantages of CHP systems, which seamlessly produce electricity and valuable heat through an integrated process.

The combined cooling heat and power plant market is forecasted to garner revenue of US$ 4.0 billion in 2033, up from US$ 2.27 billion in 2023 advancing at a rate of 5.8% from 2023 to 2033.

The CHP market has emerged as a game-changer in the energy industry, offering a highly efficient and sustainable approach to power generation.

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The CHP market has witnessed significant growth in recent years, driven by the increasing demand for clean and reliable energy solutions. Moreover, governments and industries worldwide recognize CHP systems’ benefits, which simultaneously generate electricity and useful heat in a single, integrated process.

A unique characteristic of CHP plants enables them to achieve high levels of energy efficiency and reduce greenhouse gas emissions, making them an attractive option in the transition toward a sustainable energy future. Further, the emphasis on energy efficiency is predicted to significantly facilitate market expansion. CHP systems can achieve efficiency levels of up to 90%, far surpassing traditional power generation methods.

CHP plants maximize energy utilization and minimize energy losses by utilizing the waste heat generated during electricity production for heating or industrial processes. This increased energy efficiency translates into substantial cost savings, reduced carbon footprint, and enhanced energy security, making CHP an appealing choice for industries, commercial buildings, and district heating applications.

The market faces certain challenges despite the numerous advantages. Additionally, high upfront costs, complex regulatory frameworks, and limited access to financing are key barriers that impede the widespread adoption of CHP systems.

The variability of heat and power demand in different applications requires careful planning and system design to ensure optimal performance.

Addressing challenges requires collaborative efforts between policymakers, industry stakeholders, and financial institutions to create an enabling environment for market growth.

The future of the CHP market looks promising, with increasing awareness about energy efficiency, sustainability, and the need for decentralized power generation.

Technological advancements, including the development of advanced control systems, energy storage solutions, and smart grid integration, are expected to further enhance the performance and flexibility of CHP plants.

Key Takeaways:

The CHP market value reached US$ 2.17 billion in 2022 with a CAGR of 4.1% from 2018 to 2022.
The market for combined cooling heat and power plants in the United States of America is likely to account for a 17.0% value share by 2023.
During the forecast period, the CHP industry in China is predicted to advance at 6.4%.
The market for combined cooling heat and power plants in India is expected to achieve a 6.9% CAGR over the forecast period.
The United Kingdom CHP industry is estimated to progress steadily with a CAGR of 4.3% during the projected period.

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What are the Various Nuances Associated with the CHP Market Competition?

The market competition is marked by several nuances that shape the dynamics and strategies of market players. One key nuance is the diversity of technology solutions available in the market.

Different CHP technologies, such as gas turbines, reciprocating engines, and fuel cells, offer varying levels of efficiency, cost-effectiveness, and environmental performance. This nuance leads to a competitive landscape where companies differentiate themselves based on their technological expertise and product offerings.

Another important nuance is the regional variation in market conditions and regulatory frameworks. Each region has its unique energy policies, incentives, and grid infrastructure, which influence the competitive dynamics. Market players must navigate these nuances and tailor their strategies to comply with regional regulations and take advantage of local market opportunities.

Customers have varying requirements in terms of energy efficiency, power reliability, and environmental sustainability. Competing companies must understand these nuances and develop customized solutions to meet customer needs effectively.

Key Players Operating in the Global Market

GETEC heat & power AG
Peter Brotherhood Ltd.
Clarke Energy
Siemens
ABB
AGO AG Energie + Anlagen
MAN Diesel & Turbo SE
M-Trigen
O’Hair Shutter Ltd
Grastim Energia
Biomass Power
International Coil Ltd.

Key Segmentation:

By System Type:

Smaller CHP System (less than 5 MW)
Medium CHP System (5 MW to 20 MW)
Large CHP System (above 20 MW)

By Technology:

CHP Reciprocating Engines
CHP Turbines
CHP Fuel Cells

By Chiller Type:

Absorption Chiller
Engine Drive Chiller

By Application:

CHP for Industrial Applications
CHP for Commercial Applications
CHP for Institutional Applications

By Region:

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

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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Autonomous Drone Platform Market Poised for Significant Growth by 2033

According to Future Market Insights’ most recent market estimate, the autonomous drone platforms market is anticipated to be worth US$ 8.3 billion in 2023 and US$ 24.9 billion by 2033. The market is anticipated to expand at a CAGR of 12.8% over the course of the projected period.

In order to meet the demands of diverse end users, a number of drone operators are rapidly growing their businesses, which will likely increase industrial output and productivity. This is anticipated to drive up demand for autonomous drone platforms during the forecast period.

Drones may save time and money as well because they require less manpower and don’t require any safety infrastructure. They can also enhance data analytics, which aids companies in analysing and projecting operational performance.

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Even new business models and opportunities in some industries are made possible by the adoption of an autonomous drone platform. The main drivers for investments in the autonomous drone platform industry are the sizeable commercial market potential, the declining costs of drone parts, and technological improvements in artificial intelligence (AI) and analytics.

Small drone demand has led to the development of autonomous drones that can fly without human control. Autonomous drones can perform jobs like surveillance, mapping, and delivery in a safer and more efficient manner than manually controlled drones.

The US government has also taken steps to encourage the use of autonomous drone platforms for a variety of tasks, including package delivery, search and rescue operations, monitoring and surveillance, and more.

Increased market growth is anticipated to be fueled by growing research and development initiatives in the realm of autonomous drone platforms.

Key Takeaways

The autonomous drone platform market is likely to have a CAGR of 12.8% during the forecast period.
Historically, the autonomous drone platform market had a CAGR of 12.7% between 2018-2022.
The value of the autonomous drone platform market is expected to be US$ 24.9 billion by 2033.
Based on application, the defense & military dominates the autonomous drone platform market with a CAGR of 15.8%
Based on industry, the agriculture industry dominates the autonomous drone platform market with a CAGR of 4.9%.
North America shows significant growth in the autonomous drone platform market, with a share of 21.2% in 2021.
Europe has a significant market share of 19.7% in the autonomous drone platform market.

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Competitive Landscape

Due to the industry’s relative youth, the majority of investments have not yet produced the anticipated exits or IPOs. Since 2012, there have been 34 exits and IPOs, and more are expected in the upcoming years.

The financings have also tended to favor early-stage businesses, with more than two-thirds of corporate deals occurring at the seed or series A level over the course of the previous five quarters.

Additionally, business initiatives aim to break into specific markets or develop expertise in specific industries. For example, “detect-and-avoid” capabilities would give drones the “sense” to avoid collisions and successfully complete their missions.

Recent Development:

A number of businesses, including Amazon, DJI, and Microsoft, are collaborating to create more robust and user-friendly autonomous drone systems. These collaborations are encouraging the development of cutting-edge hardware and software components that enable autonomous drone flight.
The most active venture capitalist, having so far invested in six companies, including those that deal with distribution, 3D mapping, pipe inspection, business solutions, and autonomous solutions. Qualcomm also acquired Kmel Robotics to enhance their cellular technology inside drone operations and launch their own robotics business solutions.

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Key segments

By Industry:

Agriculture
Aerial Photography
Emergency Management
Inspection and Monitoring
Remote Sensing & Mapping
Wildlife Research
Others

By Application:

Infrastructure Inspection
Surveying
Agriculture
Photography and Videography
Defense & Military
Others

By Enterprise Size:

Small Office Employees (1-9 employees)
Small Enterprises (10-99 employees)
Medium-sized Enterprises (100-499 employees)
Large Enterprises (500-999)
Very Large Enterprises (1000+ employees)

By Region:

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

Author:

About Future Market Insights (FMI)

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Water Clarifiers Market Estimated CAGR 5.2%, Expected to Reach US$ 10.24 Billion by 2033

The Water Clarifiers Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Water Clarifiers market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Water Clarifiers. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global Water Clarifiers Market is currently undergoing a substantial surge, propelled by the mounting challenges presented by burgeoning populations, diminishing groundwater reservoirs, and persistent water scarcities worldwide. Functioning as a pivotal element within water treatment facilities, water clarifiers assume a critical role in the facilitation of larger volumes of purified and potable water. These advanced systems effectively eliminate suspended particles and impurities, ensuring the distribution of safe and superior-quality water to address the ever-increasing demand.

Projections indicate that the water clarifiers market is poised to witness a steady expansion, with an estimated CAGR of 5.2% during the period spanning 2023 to 2033. By 2033, this sector is expected to command a significant market share of approximately US$ 10.24 billion, in contrast to the projected valuation of US$ 6.17 billion in 2023.

The increasing population, lowering groundwater levels, and continued water crisis is pushing governments to find alternatives. Water processing/treatment plant holds the capacity to produce a higher amount of clean water. Furthermore, the important role of water clarifiers in water treatment plants is garnering market growth.
Different types of water clarifiers include primary, secondary, circular, rectangular, lamella, and solids contact clarifiers. These different types of clarifiers are prominent in clarifying through various methods. For example, the secondary clarifier performance gets impacted by the presence of microorganisms, making it more effective biologically.
The idea of a water clarifier works as the impurities and solid-state waste comes down to the bottom of the container while the water stays still on top. The water gets purified biologically, physically, and chemically post this stage.
New companies entering the market and the government’s online tenders for water treatment plants have made it easy to set up plants. The rise of plants in the areas dealing with the water crisis is expected to garner market growth.
The standalone application of water clarifiers is to clean water for agricultural, livestock, and other usage. New societies and water preservation plants also use the same water clarifiers for preserving water.

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Key Points

The United States market leads the water clarifiers market in terms of market share in North America. The United States region held a market share of 12.8% in 2022. The growth in this region is attributed to the decreasing groundwater, a surge in water treatment plants, and raising awareness around water preservation.
The German market is another important market in the European region. The market held a market share of 5.2% in 2022. The growth is attributed to the government’s efforts for sustainability and a balanced ecosystem.
The India water clarifiers market thrives at a CAGR of 6.8% between 2023 and 2033. The growth is attributed to a huge water crisis in the southern part of the country, along with the authorities planning to process water at different stages.
The China market also thrives at a CAGR of 5.9% during the forecast period. The flourishing growth is attributed to the lower water levels along with the poor condition of drinking water.
Based on design type, the circular segment leads the market as it held a share of 77.8% in 2022.
Based on the application type, the pre-treatment segment leads the market, as it held a market share of 44.1% in 2022.

Competitive Landscape

The key vendors focus on higher effectiveness, different sizes, and internal engineering. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Hydro International has introduced the primary water clarifier that offers wastewater grit removal performance with a significantly smaller footprint.
Monroe Environmental Corp has launched water and wastewater treatment to deliver metals precipitation & reduction.

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Key Segments Covered

By Design:

Circular Water Clarifiers
Rectangular Water Clarifiers

By Material Type:

Carbon Steel
Stainless Steel
Fiber-reinforced Plastic

By Application:

Pre-Treatment
Portable Water Treatment
Waste Water Treatment
Mining

By End User:

Municipal
Industrial
Paper & Pulp Industry
Food & Beverage Industry
Oil & Gas Industry
Iron & Steel
Chemical & Fertilizer
Mining & Mineral
Power Industry

Key Regions Covered:

North America
Latin America
Europe
Japan
Asia Pacific Excluding Japan
The Middle East and Africa

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com