Market Research Blog – Page 3197 – New Product Development

Anticipated Surge: Compressor Oil Market Value to Reach US$ 11,001.4 Million by 2034

Global sales of compressor oils market are estimated to total US$ 6,513.7 million in 2024. The market is poised to expand at a 5.4% CAGR during the forecast period, reaching a valuation of US$ 11,001.4 million by 2034.

Synthetic oils remain a widely consumed oil type in the market. This is due to their excellent heat and wear resistance. The target segment is poised to expand at a CAGR of 4.9% during the assessment period.

East Asia is expected to dominate the global compressor oil market during the forecast period. It will likely hold 24.9% of the global market share in 2034. This is due to rapid industrial growth in countries like Japan, South Korea, and China.

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The compressor oil industry is poised to exhibit steady growth during the assessment period. This is attributable to factors like:

Booming industrial sector
Rising adoption of HVAC systems in residential and industrial sectors
Increasing focus on energy efficiency
Growing popularity of bio-based compressor oils
Expanding infrastructure globally

The growing manufacturing and industrial sectors are leading to increased adoption of compressors and, consequently, compressor oils. Compressors are integral to various processes in industries such as automotive, electronics, and heavy machinery manufacturing, creating a consistent demand for high-quality compressor oils.

The growing adoption of HVAC systems in residential, commercial, and industrial sectors is another prominent factor impacting compressor oil sales. This is because HVAC systems require the use of compressors and compressor oils essential for the proper lubrication and functioning of compressors.

The market is witnessing a gradual shift toward bio-based compressor oils due to growing environmental concerns and a rising need for environmentally friendly lubricants. Similarly, the development of advanced compressor oils with improved performance and better stability will benefit the market.
Key Takeaways from the Report:

The global market for compressor oils is projected to total US$ 11,001.4 million in 2034.
Based on oil type, the synthetic oil segment is estimated to account for about 57.9% of the overall market size.
By end-use industry, manufacturing & others segment is set to grow at a CAGR of 5.6%.
China’s market value is anticipated to total US$ 1,652.1 million in 2034.
Demand for compressor oils in India is poised to grow with a CAGR of 5.3% through 2034.
Total compressor oil revenue in the United States is set to reach US$ 1,409.9 million by 2034.

“Compressor oil is essential for lubricating the moving parts of a compressor. Thus, growing usage of compressors across industries like manufacturing, automotive, and oil & gas will likely boost sales of compressor oils through 2034,” – says FMI analyst.

Who is Winning?

Key companies are concentrating on developing high-performance and environmentally friendly compressor oils to meet the evolving needs of end-use industries. They also use tactics like acquisitions, distribution agreements, facility expansions, partnerships, and mergers to strengthen their global footprint.

In May 2023, Luberef signed a Memorandum of Understanding (MOU) with APAR Industries Limited to build a Compressor Oil/White Oil plant at the LubeHub, supporting the localization of specialty products in KSA.
In 2020,APAR introduced POWEROIL Press C 220 compounded compressor oil to provide optimal resistance to water washing while lubricating compressors handling wet gasses.

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Leading compressor oil manufacturers listed in the report include

ExxonMobil Corporation
Quaker Chemical Corporation
Fuchs Petrolub SE
BP plc
TotalEnergies SE
Apar Industries Ltd.
Calumet Specialty Products Partners, L.P.
Chevron Corporation
China Petroleum & Chemical Corp (Sinopec Corporation)
Repsol SA
Philips 66
Raj Petro Specialities Pvt. Ltd
Nynas AB
Valvoline, Inc.
Shell plc.
Savita Oil Technologies Ltd.
The Dow Company

More Insights into the Compressor Oil Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global compressor oil market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on oil type, compressor, sales channel, end-use industry, and region.

Market Segmentation

By Oil Type:

Synthetic Oil
Mineral Oil
Semi-Synthetic Oil
Bio-based Oil

By End-use:

Oil & Gas
Automotive
Power
HVAC-R
Manufacturing & Others

By Sales Channel:

OEM
Aftermarket

By Compressors:

Air Compressors
Refrigeration

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South 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 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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Culinary Tourism Market Forecasted to Hit US$ 48,20,308.2 Million, Driven by 17.1% CAGR by 2033 | FMI

The culinary tourism market is expected to be valued at US$ 9,92,059.4 million in 2023. In 2022, the value was US$ 9,76,679.0 million. The CAGR of the demand for the forecast period from 2023 to 2033 is an impressive 17.1%. By 2033, the market is predicted to have bounced in size to US$ 48,20,308.2 million.

Among foodies, authenticity is valued highly. Gourmets are willing to spend on travel to go to places from where cuisines originated to indulge in authentic preparation of food. Thus, culinary tourism is on the rise. However, a focus on culinary tourism is expected. Aside from consuming food, consumers are also taking culinary classes, participating in culinary trials, and overall immersing in the culinary culture of the regions.

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Often, culinary tourism is embedded with overall tourism packages. Travel companies are offering tourism packages with culinary experiences regularly. Further, tourist food spots are wider than just commercial spaces. Culinary tourism is rapidly including food cooked at home, providing wider avenues to the expansion of the market.

Key Takeaways from the Culinary Tourism Market

The culinary tourism market’s size for 2023 is estimated to be US$ 9,92,059.4 million.
Culinary trials are the most popular culinary tourism activity. For 2023, culinary tourism is estimated to have a market share by activity type of 26.3%.
Domestic tourists make up the most significant consumer base of culinary tourism. For 2023, domestic tourists are expected to account for 72.6% of the market share by tourist type.
India is one of the fastest-growing countries in the market. For the 2023 to 2033 forecast period, the CAGR for India is pegged at a stellar 10.5%.
Japan is another Asian country holding significant promise for the market. For the 2023 to 2033 period, the CAGR for Japan is an impressive 10.3%.
Australia is marked for encouraging growth in the market. For the 2023 to 2033 period, the CAGR for Australia is expected to be 9.4%.

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Key Companies in the Culinary Tourism Market

Abercrombie & Kent USA, LLC
Classic Journeys, LLC
G Adventures
Greaves Travel Ltd
India Food Tour
ITC Travel Group Limited
The FTC4Lobe Group
Topdeck Travel (Flight Centre (UK) Limited)
The Travel Corporation
Gourmet on Tour
Culinary Adventures International
Culinary Tours
Butterfield & Robinson Inc.

Competition Analysis of the Culinary Tourism Market

Marketing campaigns are relied upon heavily by players in the market. Both local players and giant corporations have carved out a significant piece of the pie. Some prominent companies in the market are Abercrombie & Kent USA, LLC Classic Journeys, LLC G Adventures, and Greaves Travel Ltd.

Recent Developments in the Culinary Tourism Market

In October 2023, the World Food Travel Association (WFTA) launched a certification program encouraging sustainable culinary experiences.
In September 2023, the Culinary Action! program from the Basque Culinary Center was launched. The program aims to provide better facilities for socially disadvantaged people in culinary experiences.
In August 2023, Airbnb took a prominent step in the market by launching a range of culinary experiences.

Key Segments

By Activity Type:

Culinary Trials
Cooking Classes
Restaurants
Food Festival
Others

By Tourist Type:

Domestic
International

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
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.

Contact Us:

Nandini Singh Sawlani

Market Outlook: Polyimide Fibers Industry Anticipates 5.4% CAGR by 2033

In 2023, the polyimide fibers industry is projected to generate revenue exceeding US$ 517.5 million. The market is expected to develop at a compound annual growth rate (CAGR) of 5.4% between 2023 and 2033.

Polyimide fibers are increasingly used in the manufacture of protective apparel due to their outstanding flame-retardant potential. Polyimide fibers are now widely utilized in the production of protective equipment, such as the outer shell of army uniforms, firefighters’ jackets, industrial protective gear, and others.

The increase in the number of space research activities and space launches throughout the world has continually boosted polyimide fiber sales. Growth in the number of space launches necessitates the production of tones of materials and components for rockets and space shuttles.

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According to NASA, ISRO, and other space research organizations, several space launches are expected to increase significantly during the forecast period, creating a huge demand for portable, superior materials that can withstand high temperatures. Moreover, polyimide fibers are employed for multilayer insulations of space shuttles and astronaut space suits due to their outstanding heat resistance property, which is projected to drive demand throughout the forecast period.

The existence of numerous space organizations such as NASA, as well as their substantial plans to launch various space shuttles, are projected to drive demand for polyimide fibers. As a result, the market value in the United States is estimated to rise during the projection period.

Key Takeaways

In the last five years, the market has expanded at a CAGR of 3.5%.
In 2023, the United States polyimide fibers market is predicted to rise 4.5% year on year, with Germany accounting for about 30% of the income earned by polyimide fiber sales in Europe.
Filter media is the large user of polyimide fibers by application, accounting for 60% of total polyimide fiber output globally.
The power & utilities segment is expected to be worth US$ 250 million by the end of the forecast period.

Competitive Landscape

The key players have focused on increasing their manufacturing units in their respective regions. Innovation, cooperation with important actors, partnerships, strategic alliances, and the strengthening of regional and worldwide distribution networks are examples of strategies. Among the significant developments are:

In May 2023, Solvay, a global market leader in specialized materials, introduced KetaSpire® KT-857, a revolutionary polyetheretherketone (PEEK) extrusion substance designed exclusively for copper magnet wiring insulation in electric motors.
In April 2022, Kolon Industries, a chemical company in South Korea, partnered with SKC to supply polyimide sheets to Taiwan’s Asus for its folding notebook, Zenbook 17-Fold OLED. In exchange for support in the development of Asus’s device, the companies agreed to supply PI to the Chinese display panel manufacturer BOE.

Key Companies Profiled

Jiangsu Shino New Materials Technology Co., Ltd.
Jiangsu Aoshen Hi Material Co.
Changchun Hipolyking Co., Ltd.
Ningbo Yide Fine Chemical Co., Ltd.
Lirsot Ltd.
Swicofil
Shandong Xingye Environmental Technology Corp.
Jiangsu Jinqiao Salt International Trade Co. Ltd.
Baoding Sanyuan Textile Technology Co. Ltd.
Shanghai Easun Group Imp & Exp Co., Ltd.
Xiamen Meidasi Environmental Protection Industry Co. Ltd.
Evonik Industries AG

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Polyimide Fibers Market Segmentation by Category

By Application:

Filter Media
Protective Clothing
Insulation Material
Others

By End User:

Construction
Power & Utilities
Chemical & Processing
Mining
Others

By Region:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Forecasted Expansion: Petroleum Jelly Industry Anticipates 4.2% CAGR Growth Rate by 2033

The global petroleum jelly industry is expected to reach a market value of US$ 525.1 million in 2023. This may push the market size to US$ 770.3 million in 2033. The overall market is expected to thrive at 4.2% CAGR.

Growing demand for petroleum jelly as UPS and technical in multiple end-use industries such as pharmaceuticals, cosmetics & personal care, food, and others is expected to boost consumption in the coming years.

A cable-filling compound such as petroleum jelly has been used in the telecommunication industry for years to prevent moisture from entering cables. As a result, the availability of broadband connections at home might increase the demand for optical fiber cables.

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The dielectric properties of petroleum jelly are beneficial to optical fiber cables and copper telephone cables. Additionally, petroleum jelly’s physical and chemical properties are driving the petroleum jelly market growth.

Petroleum jelly’s market growth is mainly fueled by pharmaceutical and cosmetic products. Leather, telecommunications, manufacturing, marine, and other sectors also use it. The material is also resistant to rust and insoluble in water and many other chemicals, so it may be an ideal choice for equipment that requires rust resistance.

Growing investment in manufacturing industries and downstream product utilization is expected to fuel market demand in the coming years as a moisture reduction agent and grooming aid in a wide range of skin treatments, cosmetics, and hair products.

Key Takeaways from Market Study

The petroleum jelly market is expected to hold a CAGR of 4.2% over the forecast period.
USP grade is anticipated to remain the prominent segment in the petroleum jelly market with a CAGR of 3.9%.
It is estimated that the petroleum jelly market in North America may remain strong during the forecast period.
The petroleum jelly market in the United States is estimated to be valued at US$ 103.5 million in 2023.
China is predicted to expand at a CAGR of 4.1% and is estimated to be valued at US$ 245.7 million in 2023.

Competitive Landscape:

A variety of expansion strategies have been adopted by some leading market players in order to deepen penetration across lucrative markets. Several small-scale companies are merging and acquiring big companies to reach a wide consumer base and incorporate innovative products into their product lines. In addition to launching products, partnering with key players, acquiring companies, and strengthening regional and global distribution networks, these strategies include collaborations with key players.

Several prominent companies dominate this market, including International Group, Inc., Calumet Specialty Products Partners, L.P, ExxonMobil, Sasol, Lukoil, Polwax SA, Nippon Seiro Co., Ltd., Repsol, H&R Group, and others.

Recent Developments:

In May 2021, Royal Dutch Shell sold its 50% stake in Deer Park Refining Limited Partnership, a joint venture between the company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). After regulatory approval, Royal Dutch Shell’s interest in the partnership and the refinery’s sole ownership is likely to be transferred to Pemex.
Calumet Specialty Products Partners announced in March 2020 that it has acquired Paralogics, a manufacturer of industrial and candle wax blends. Once integrated into Calumet’s existing wax business value chain, the new capabilities are going to add 20 million pounds of blending and formulating capacity annually.

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Petroleum Jelly Market Segmentation by Category

By Grade, the market of Petroleum Jelly is segmented as:

USP
Technical

By End Use, the Petroleum Jelly is segmented as:

Pharmaceuticals
Cosmetics & Personal Care
Food
Other Industrial

By Region, the Petroleum Jelly is segmented as:

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

About Future Market Insights (FMI)

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Piroctone Olamine Market Set to Skyrocket to US$ 137.1 Million by 2032, Driven by Rising Global Dandruff Concerns Despite Cost Challenges

According to a study, almost 50% of the adult population across the globe is suffering from dandruff problems. The global piroctone olamine market is estimated to reach US$ 73 Million in 2022. With sales growing at a 6.5% CAGR over the forecast period, the market size is projected to reach US$ 137.1 Million by 2032.

Despite the wide applications of piroctone olamine in hair care products, however, the ingredient is very expensive and there are many cheaper alternatives available in the market. High product cost hinders small and medium-sized cosmetic manufacturers from using piroctone olamine in their products and shifting towards cheaper alternatives, which is expected to hinder sales in the market.

“Rising demand for anti-dandruff solutions such as shampoos, oils, creams, along with increasing incorporation of piroctone olamine in anti-acne products will augment the growth in the market over the forecast period,” says an FMI analyst.

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Key Takeaways:

Based on purity, sales in the >99% segment are projected to increase at a considerable pace over the forecast period.
In terms of applications, demand in the cosmetic sector will grow at a 5.9% CAGR through 2032.
Rising demand for piroctone olamine in hair care products, anti-acne products, washing products, deodorants, and soap is expected to propel the growth of the market.
China will dominate the East Asia piroctone olamine market over the assessment period, owing to expansion in the cosmetics sector.
The U.S. is expected to emerge as a lucrative pocket, as demand for skincare products continues to grow.

Competitive Landscape

Some of the key manufacturers operating in the global piroctone olamine market

Clariant AG
Lonza Group
Wuxi Zhufeng Fine Chemical Co., Ltd.
Kumar organic product limited,
Somu Group
Zhonglan Industry Co. Ltd.
YanTai Aurora Chemical Co. Ltd.
Spec Chem Industry Inc.
Shandong Chuangying Chemical Co. Ltd.

More Insights into the Piroctone Olamine Market Report

In its latest report, FMI offers an unbiased analysis of the Asia Pacific Piroctone Olamine Market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the Asia Pacific market potential, growth, and scope, the market is segmented based on purity, application, and region.

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Market Segmentation

By Purity:

≥ 99%
< 99%

By Application:

Hair Care
Cosmetics
Deodorants
Washing Products
Others

Frequently Asked Questions

What is the current global piroctone olamine market value?
What is the demand outlook for global piroctone olamine?
At what rate did the global piroctone olamine market grow between 2017 and 2021?
Who are the leading players in the global piroctone olamine market?
Which are the top countries driving the global piroctone olamine market demand?

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

Valeryl Chloride Market Demand Surge, Fueled by Pharmaceutical and Agrochemical Industries’ Expanding Applications

The global valeryl chloride market size stood at US$ 551.25 Million in the year 2022 and is expected to reach US$ 898 Million by the year 2032 at a CAGR of 5% between 2022 and 2032.

Coming to the electronics vertical, valeryl chloride is used in semiconductors and LCDs (liquid crystal displays).

Coming back to the pharmaceuticals vertical, the growing geriatric population is the major contributor to revenue. Plus, increasing awareness regarding importance of valeryl chloride is expected to keep the cash registers ringing for the valeryl chloride market in the years to come.

At the same time, the blunt fact that governments across the globe are imposing stern regulations regarding the protection of laborers serving these industries can’t be ignored. Besides, concerns regarding the safety of chemicals in end-products could prove to be detrimental if not handled with care. These factors could restrain the valeryl chloride market in the forecast period.

Future Market Insights has entailed these facets with future perspectives in its latest market study entitled ‘Valeryl Chloride Market’. Its team of analysts and consultants is into primary, secondary, and tertiary modes of research through its 360-degree approach. Macros as well as micros are being effectively worked upon over here.

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“With valeryl chloride increasingly being used by pharmaceuticals vertical in the form of medical feedstock, an emulsifier, and a surfactant, the global valeryl chloride market is likely to substantiate going forward”, – Future Market Insights.

Key Takeaways from Valeryl Chloride Market

North America and Europe collectively holds more than 40% of the market share due to the US being one of the key players in pharmaceuticals sector. The government is coming up with initiatives to facilitate better medical care. As such, the status quo is expected to remain the same even going forward.
The Asia-Pacific is expected to grow at a rapid pace in the valeryl chloride market due to increase in production of crop protecting agents and pesticides.
LATAM is expected to grow in valeryl chloride market on the back of Colombia and Brazil.
MEA is expected to grow with expanding pharmaceutical vertical herein.

Competitive Arena in Valeryl Chloride Market

BASF SE has its 5-Chlorovalerylchloride (5-CVCL), which comes across as a colorless to yellow liquid having pungent odor. It is used to produce agrochemicals and pharmaceuticals.
CABB Chemicals has its acid chlorides, chlorinated intermediates, and acid anhydrides that are essential building blocks regarding synthesis of the new-fangled products for performance materials, life sciences, and crop sciences.

Key Companies Profiled

Shiva Pharmachem
Omega finechem Pvt. Ltd.
Zibo Shanqiang Plastic Co., Ltd.
Chemicalland21
Tejraj Bros
Dev Enterprise
BASF SE
CABB Chemicals
Hangzhou Fanda Chemical
Jiangsu Baichang Pharmaceutical
Leonid Chemicals
Shandong Jiahong Chemical
Jinnan Fufang Chemical
Lianfeng Chemicals

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Key Segments Profiled in the Valeryl Chloride Market Survey

By Purity:

98%
99%
Others

By Application:

Pharmaceuticals
Agrochemicals
Fragrances
Electronics
Others

By Region:

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

What does the Report cover?

The research study is based on purity (98%, 99%, and likewise), and by application (pharmaceuticals, agrochemicals, fragrances, electronics, and likewise).
With increase in production of medicines coupled with growing capacity of farm produce, the global valeryl chloride market is expected to grow on a voracious note between 2022 and 2032.

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

Tallow Amine Market Rising Agricultural Productivity and Construction Activities Fuel Demand in a Rapidly Evolving Industry Landscape

Tallow amines represent the wide range of non-ionic surfactants derived from animal fats i.e. tallow. Tallow is a hard fat is comprised of glyceryl esters of oleic, palmitic, and stearic acids. Tallow amines are hydrophilic surfactants with a weak ammonia smell. Tallow amines are immiscible in water, and are easily dissolved in alcohols, chloroforms, benzene, and ethers. Animal fats are hydrolyzed to give mixture of fatty acids mainly comprised of palmitic, oleic, linoleic and myristic. These fatty acids are converted into amines by nitrile process. Tallow amine is finding various applications in numerous industries. Tallow amines are widely used as cationic collector in mining industry, as an emulsifier and wetting agent in agrochemicals formulation.

Tallow amines are also used as additives in fuel and lubricants. They are used as an additives in fuel & lubricants as well as dyes & pigments. Tallow amines are also used as corrosion inhibitors and thickeners for many industrial applications. Tallow amines are also finding its application is soaps formulation and leather dressing. In certain regions and countries such as France, there are regulations and bans being imposed on the tallow amine due to the uncertain health risks.

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Tallow Amine Market: Dynamics

Changing farming techniques and advancement of the farming technology has reshaped the agriculture industry. Rapidly growing population has fueled the agricultural production across the world. Advancement of technology and agriculture science there is rise in the adoption of agrochemicals. The up surging demand for high productivity or high agricultural yield is boosting the demand for agrochemicals, rising demand for agrochemicals will drive the growth of tallow amine market.

In this rapidly growing modern industrial there is substantial advancement in the technology and industrial activities. Advancement of technology is boosting the demand for efficient fuels and lubricants, growing demand for fuel and lubricants will positively influence the tallow amines market. Rising urban population and increasing GDP growth has increased the construction activities and infrastructure spending, Increasing demand for asphalt boost the growth of tallow amine market. Growing Textile as well as Paints & Coatings industry will have a positive impact on the tallow amine market. Rapid industrialization across the globe is increasing the mining and exploration activities around the world, growth of mining industry will fuel the demand for tallow amine. Increasing number of regulations and imposition of ban on certain types of tallow amine in certain regions will hamper the growth of tallow amine market.

Tallow Amine Market: Regional Outlook

Agrochemicals and dyes & pigment production activities are growing in the Asia Pacific region. Also, in Asia Pacific there is significant rise in construction activities and infrastructural development, especially in the developing countries such as China & India. Rising mining activities coupled with above factors is estimated to make Asia Pacific a prominent market region for tallow amine market. Despite being the matured market Europe and North America can be considered as potential market regions owing to increasing demand for fuel & lubricants, dyes & pigments and rising construction activities. The regions of Africa are very rich in terms of natural resources reserves and there are several countries in Africa which have untapped natural resource reserves, owing to which there is substantial number of mining activities ongoing in Africa, also there is rise in the number of agrochemical industry in the regions such as Middle East and Africa, owing to which Middle East and Africa can be considered as promising market for tallow amine.

Tallow Amine Market: Key Participants

Examples of some of the market participants operating in the global Tallow Amine market are:

Kao Chemicals
Oriental Union Chemical Corporation
SINO-JAPAN CHEMICAL CO.,LTD.
JiangYin HuaYuan Chemical Co.,Ltd.
Lantian Finechem, Shandong paini Chemical Co., Ltd.
Shandong Kerui, Prasol Chemicals Pvt Ltd.
Huntsman International LLC

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The Tallow amine market research report presents a comprehensive assessment of the Tallow amine 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 Tallow amine market research report provides analysis and information according to Tallow amine market segments such as geographies, applications and industries.

The Tallow amine Market 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 Tallow amine market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Tallow amine market segments and geographies.

Tallow Amine Market Key Segments

By Grade:

Reagent Grade
Industrial Grade

By Form:

Solid
Liquid

By Application:

Emulsifier
Cationic collector
Additives
Anti-caking agent
Corrosion inhibitor
Thickener
Anti-static agent

By End-Use:

Mining
Fuel & Lubricants
Construction
Dyes & Pigments
Agrochemicals
Others

By Region:

North America
Latin America
Asia Pacific
Europe
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.

Contact Us:

Nandini Singh Sawlani

Global Magnetic Materials Market Fueled by Growing Demands from Petroleum and Electronics Industries, to Reach US$ 40,286 Million by 2033

By 2033, the Magnetic Materials Market is anticipated to be worth more than US$ 40,286 Million. During the evaluation period from 2023 to 2033, it is set to generate an absolute dollar potential of US$ 20,441 Million. In 2023, it is anticipated that the market for magnetic materials will reach a value of around US$ 19,845.2 Million. In the forecast period from 2023 to 2033, it is expected to cross a CAGR of 7.3%. Sales of magnetic materials are anticipated to increase due to rising demand from the electronics and petroleum industries. Businesses can save money by using this technology to eliminate waste and optimize energy use.

Other materials such as steel or iron can be drawn to or repelled by magnetic elements. Magnetic materials have a wide range of practical applications, particularly in transformers, motors, and generators. They are extensively used in data storage devices, speakers, and MRI equipment.

Consumer devices such as cellphones, computers, and tablets are in high demand. Permanent magnets, magnetic sensors, and magnetic storage components are just a few of the magnetic components used in these gadgets. Demand for these materials is projected to increase as they are important parts of electronic products.

Use of renewable energy sources such as solar and wind power is expanding globally. It is hence projected that use of magnetic materials in generators, wind turbines, and other energy systems will increase.

The market for electric cars (EVs) is growing as environmental awareness among modern consumers increases. For their electric motors and powertrains, EVs significantly rely on magnetic materials, particularly rare-earth magnets.

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The need for magnetic materials is increasing along with the trend toward industrial automation. They are utilized in actuators, sensors, and motors for robotics and manufacturing automation.

Demand for magnetic materials is expected to increase as infrastructure, including transportation & communication networks and power grids are developed. These are intended for use in transformers, motors, and other machinery.

Demand for smaller, more effective magnetic materials is anticipated to increase with the growing trend toward shrinking of systems such as sensors and actuators.

Demand for consumer electronics and other devices that rely on magnetic materials is rising as raw materials become cheaper developing nations. The market for magnetic materials is anticipated to hence expand significantly until 2033.

Key Takeaways in Magnetic Materials Market:

From 2018 to 2022, the global magnetic materials industry was reported to expand at a CAGR of 7.9%.
China magnetic materials industry is expected to spur at a CAGR of 14.4% in the forecast period.
Germany magnetic materials industry is anticipated to expand at a sizable CAGR of 5.8% over the estimated period.
The United States market is likely to exceed a valuation of US$ 6,447.5 Million by the end of 2033.
By product type, the permanent magnetic materials segment is expected to account for more than 70% of the global market share in the assessment period.

“One of the biggest consumers of magnetic materials is the auto industry. Requirement for magnetic materials is anticipated to increase along with the need for electric vehicles. It is anticipated that growing use of renewable energy sources such as wind turbines and solar panels will further increase demand for magnetic materials,” – Future Market Insights (FMI).

Competitive Landscape:

Manufacturers have started to concentrate on acquisitions in recent years to expand their product lines in the global magnetic materials market. To increase production efficiency and cut costs, they are also implementing cutting-edge automation and robotics technology.

A few new players are making significant investments in research initiatives to produce new and improved magnetic materials that are more effective, long-lasting, and affordable. To fulfill the evolving needs of their clients, they are always reinventing their products by introducing new shapes, sizes, and materials.

For instance,

A new kind of magnet made without rare earth elements was created by Hitachi Metals in October 2020. The magnet is referred to as RE-free. According to the manufacturer, rare earth metal-free magnets have high magnetic qualities that are comparable to those of regular magnets.

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Key Companies Profiled:

Advanced Composites Inc.
AGY Holdings Corp.
Jushi Group
TDK Corp.
Magnetics, Inc.
Arnold Magnetic Technologies, Corp.
Magnetics, Inc.
Taishan Fiberglass Inc
Beijing Zhong Ke San Huan
Advanced Materials and Technology Co., Ltd
Electron Energy Corp.
Hengdian Group DMEGC Magnetics Co., Ltd
ASAHI FIBER GLASS Co., Ltd
Nippon Electric Glass Co., Ltd
Owens Coming
Saertex Group

Market Outlook by Category:

By Product Type:

Soft Magnetic Materials
Iron-Si Alloys (Electrical Steel)
Ni-Fe Alloys
Amorphous and Nano Crystalline Alloys
Soft Ferrites
Permanent Magnetic Materials
Alnico
Nd-Fe-B
SmCo Type
Ferrite

By Application:

Transformers
Drives and Motors
Generators
Relays
Inductors
Communication Equipment
Data Storage Devices
Medical Devices and Equipment
Electronic Equipment / Appliances and Accessories
Others

By Region:

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

About Future Market Insights (FMI)

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

Increased Silicone Elastomer Demand Sparks Chloromethane Market Growth, Anticipated US$ 8.8 Billion Valuation by 2032

The global chloromethane market size is expected to reach a valuation of US$ 8.8 Billion by 2032, with the demand growing at a standard CAGR of 5.2% from 2022 to 2032. Valued at US$ 5 Billion in 2021, the target market scaled up to US$ 5.3 Billion in 2022. Heightened demand for silicone elastomers across different industrial verticals, particularly from the automotive and construction industries, is expected to facilitate the growth of the chloromethane market during the forecast period.

Chloromethane is used as a chemical intermediate to produce derivatives like chloroform, methylene chloride, and carbon tetrachloride. The chemical is also used in the production of silicone. With rapid industrialization taking place across the globe, the demand for these derivates of chloromethane- chloroform, methylene chloride, and carbon tetrachloride -is expected to rise which, in turn, will augur well for the target market. Furthermore, as chloromethane is also used to produce silicone, the demand for chloromethane will likely continue to rise in the automobile and electronics sectors as these industries make considerable use of silicone.

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Again, silicones also find application in the construction industry which facilitates growth for the chloromethane market. In the construction industry, silicones are utilized for structural glazing and weatherproofing. Silicone also contributes towards the maintenance of energy efficiency of buildings, reduction of material waste, an extension of building life, and maintenance of in-shop productivity. Thus, with the expansion of the construction sector, the use of chloromethane to produce construction-grade silicone is anticipated to grow over the upcoming decade and push the overall market growth.

Additionally, the pharmaceutical industry is projected to drive the expansion of the global chloromethane market size. A prime use of chloromethane in the pharmaceutical sector is the manufacturing of chloroform, a very popular anesthetic. Chloromethane is also utilized as an intermediate in the manufacturing of medicinal drugs. All of these factors, along with others, will induce growth for the chloromethane market during the forecast period.

“Surging use of chloromethane as a local anesthetic and as an intermediate in drug manufacturing will fuel the global growth of the chloromethane market over the forecast period,” says an FMI analyst.

Key Takeaways in Chloromethane Market:

High volatility and adverse effects of chloromethane on the environment are aspects that will deter the growth of the target market during 2022-2032.
High demand for electronics and automobiles will drive Asia Pacific’s chloromethane market to grow at a CAGR of 5% during the assessment period.
The chloromethane market in Europe will experience notable growth with Germany accounting for a major portion of the growth.
Increasing adoption of hydrofluoro olefins, a better sustainable refrigeration substitute for CFCs, will generate greater market prospects for the chloromethane market.

Competitive Landscape in Chloromethane Market

Some of the major players in the chloromethane market are profiled in the full version of the report

AkzoNobel N.V.
Asahi Glass Co. Ltd.
Dow Chemical Company
Gujarat Alkalies & Chemicals Ltd.
Ineos
Solvay S.A.
Shin-Etsu Chemical Co. Ltd.
Tokuyama Corporation

In a highly competitive market, prominent market players are concentrating on adopting various organic and inorganic business strategies to strengthen their market presence. A few of these participants account for a sizeable portion of the market.

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More Insights into Chloromethane Market

In its latest report, FMI offers an unbiased analysis of the global chloromethane market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, and region.

According to the report, based on regional segmentation, the chloromethane market in the Asia Pacific region will exhibit substantial growth during 2022-2032. The target market in this region will record a CAGR of 5% during this period. Factors such as the ample availability of livestock and the significant availability of shale gas reserves in China immensely influence the growth of the chloromethane market. Further, many countries like India offer raw materials and skilled labor at inexpensive rates which fuel the target market growth in Asia Pacific. Besides, Europe’s chloromethane market will also demonstrate notable growth during the assessment period primarily due to the extensive application of chloromethane in pharmaceutical industries, especially in Germany. Thus, demand for chloromethane in the chemicals, pharmaceuticals, and other industries will propel the chloromethane market growth during the forecast period.

Key Segments Profiled in the Chloromethane Industry Survey

Product Type:

Methyl Chloride
Methylene Chloride
Carbon Tetrachloride
Chloroform

Application:

Silicones
Agriculture Chemicals
Pharmaceuticals
Chemical Intermediate
Personal Care
Other Applications

Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa

About Future Market Insights (FMI)

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

Rice Milk Market Projected to Surpass US$ 1.3 Billion by 2033 | Future Market Insights

The rice milk market is registering a valuation of US$ 0.639 billion in 2023 and is projected to reach US$ 1.3 billion by 2033. The market is capturing a CAGR of 6% during the forecast period.

The rice milk market is rapidly developing as buyers seek lactose-free and plant-based milk alternatives. Rice milk, manufactured from rice grains, is a healthy and appealing option for persons with dietary restrictions or lactose intolerance. Market expansion is being driven by the growing popularity of vegan diets and the demand for non-dairy foods.

As a result of increased customer demand for dairy-free alternatives, health-conscious consumer trends, and dietary preferences, the rice milk market is rapidly expanding. Rice milk’s popularity has developed as a result of its nutritious qualities and adaptability, which has fostered flavour and application innovation, making it a competitive competitor in the plant-based milk market.

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How is the Popularity of Rice Milk Growing Among Consumers?

The popularity of rice milk is rapidly growing among consumers due to several factors, including:

Vegan and plant-based trends are growing in popularity, which is helping the global industry. As lactose intolerance and milk allergies increase, so does the demand for rice milk.
Digestive Benefits: Adopting rice milk among consumers improves the digestion system with its natural ingredients. It is one of the suitable alternatives for the stomach as compared to milk.
Allergen-free: Rice milk is made up of natural and organic flavor ingredients. It is sustainable without allergens such as soy, lactose, and nuts.
Mild Flavor: The demand for rice milk is rising due to its sweet, mild, natural flavor. Rice milk is a standalone beverage with versatile ingredients.
Nutritional Profile: Rice milk is lower in fat than other milk. It provides better nutrition, vitamins and minerals, and essential nutrients such as vitamins B and D.
Sustainable Option: The demand for rice milk is increasing due to its sustainability and lower greenhouse gas emissions than dairy milk, such as cow’s milk.
Variety: Rice milk is popular plant-based and is available in oat, soy, and almond milk varieties.

Key Takeaways:

The rice milk market is predicted to register a CAGR of 6% with a valuation of US$ 1.3 billion in 2033.
In the historical period, the market secured a CAGR of 2.4% between 2018 and 2022.
India is estimated to lead the global market by securing a CAGR of 7.8% by 2033.
Based on end use, the food & beverages sector is estimated to register a share of 21.5% during the forecast period.
The market is anticipated to capture a valuation of US$ 0.639 billion in 2023.

How Key Players Are helping surge the Global Market?

Key players focus on developing sustainable, lactose-free rice milk to expand the global market. These key players are adopting marketing tactics, including collaborations, mergers, acquisitions, product launches, and agreements.

Key players are launching new products in the global market with exotic flavors and organic ingredients additions. A few of the prominent players in the market are as follows:

Dream Plant-based: The company offers dairy-free alternatives to their customers with a clean label and eco-friendly sourcing.
Vitasoy: The company provides soy-based products to their customers with the high-quality and wide availability of beverages.
Earth’s Own: This company provides plant-based and vegan beverages to its consumers. They are promoting their brand with distribution channels.

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Recent Developments in the Global Market:

In 2022, Ebro Foods announced its newly launched rice milk product with 100% organic ingredients. They offer non-toxic, artificial sugar-free rice milk containing 16% of rice content.
In 2021, Linda McCartney launched its plant-based rice milk with different types of varieties, including organic rice and organic soya.

Market Categorization:

By Distribution Channel:

Supermarket & Hypermarket
Online Retails
Others

By Form:

Powder
Liquid

By Source:

Organic
Conventional

By End Use:

Food & Beverages
Nutraceuticals & Baby Food
Personal Care
Pharmaceuticals
Others

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

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