Decorative Plastic and Paper Laminates Market Set to Reach USD 113 Billion by 2028 with a 5.5% CAGR

Decorative Plastic and Paper Laminates Market
Decorative Plastic and Paper Laminates Market

By the end of 2018, the global market for decorative plastic and paper laminates is expected to be valued at USD 66 billion, and by the end of 2028, it is expected to reach USD 113 billion. Over the projected period, the decorative plastic and paper laminates market is expected to grow at a compound annual growth rate (CAGR) of 5.5%.

The main reasons behind the growth of RTA furniture in the US and Europe are rising disposable income, urbanization, and infrastructure development expenditures, mostly in the residential and commercial sectors. These factors also fuel the expansion of the decorative plastic and paper laminates market.

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Rapid Recovery of Residential Housing Sector Firms up the Base for Decorative Plastic & Paper Laminates Demand

Although commercial sector currently dominates in terms of demand for decorative plastic and paper laminates, residential housing sector is likely to take over soon.

The residential construction realm has been witnessing strong signs of recovery over the past couple of years, which is playing a key driving force for the revenue growth of decorative plastic and paper laminates landscape.

Moreover, rapid growth of hospitality sector is providing a strong impetus to product innovation, thereby pushing the growth of leading bands dealing in decorative plastic and paper laminates landscape.

Commercial construction is also significantly favoring the sales decorative plastic and paper laminates, as indicated by the report.

Manufacturers of decorative plastic and paper laminates are also capitalizing on opportunities presented by a growing number of remodeling and repainting projects.

Wooden Flooring Trends among Consumers, Following Furniture & Cabinets

“Furniture and cabinets account for over half the share of total market value, whereas flooring applications are likely to gradually take over,” says the analyst.

Shifting consumer preferences for laminate flooring in both residential and commercial sectors is creating a heap of investment opportunities for manufacturers of decorative plastic and paper laminates.

“Consumers today seek endurance, scratch resistance, and aesthetics while purchasing furniture for homes or workplaces. Such factors are provide the trigger for application specific innovations in decorative plastic and paper laminates,” the analyst explains further.

Spectacular growth prospects are identified for Asia, North America and some parts of Eastern Europe.

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Mushrooming Popularity of RTA Furniture Favors Global Sales of Decorative Plastic & Paper Laminates

Constant design innovation, consistent focus on superior quality, and maximum convenience are collectively driving consumer appeal for ready-to-assemble (RTA) furniture, especially in developed markets of North America and Europe.

Manufacturers of both RTA furniture and decorative plastic and paper laminates are taking efforts to collaboratively unlock the opportunities – with an additional benefit of less susceptibility to damage during transit and shipping.

Penetration of RTA furniture into developing economies is also gradually increasing owing to relatively lower price point and maintenance cost, thereby contributing to sales of decorative plastic and paper laminates.

Digital Print Designs on Decorative Plastic and Paper Laminates Gather Considerable Momentum

Personalization has been trending across industries, and interior decoration is among the prominent ones. Customized digitally printed laminates are especially designed to cater to specific consumer demands regarding print design, pattern, and graphic.

Sheets of digital decorative plastic and paper laminates have high resolution images printed on them, and can be directly applied on furniture, doors, commercials, exhibition stands, and walls.

Digital print laminates are creating a slew of opportunities for manufacturers in the decorative plastic and paper laminates landscape.

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Decorative Plastic and Paper Laminates Market: Top Key Players

Some of the players reported in this study on the global decorative plastic and paper laminates market include Archidply Industries Ltd, OMNOVA Solutions Inc., Illinois Tool Works, Inc., Fletcher Building Limited, Greenlam Industries Ltd., Stylam Industries Ltd, Merino Group, Panolam Industries International, Inc., OMNOVA Solutions Inc., Illinois Tool Works, Inc. and Century Plyboards (India) Limited, among 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 ~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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Beyond Indulgence: The Strategic Sweetness of the USD 50.5 Billion Compound Chocolate Market by 2032

Compound Chocolate Market
Compound Chocolate Market

The global compound chocolate market is stirring up a delicious storm, with a projected value of USD 50.5 billion by 2032, reflecting a healthy CAGR of 6.7% from 2022. This market offers a delightful opportunity to invest in a sector that caters to our universal love for chocolate flavor.

Compound chocolate, a versatile blend of vegetable fats, sugars, cocoa powder, and other ingredients, is the secret behind many of our favorite treats. As a cost-effective alternative to real chocolate, it forms the base for commercially consumed confectionery delights.

Demand for Compound Chocolate on the Rise

Several factors are fueling the demand for compound chocolate, creating a tempting proposition for B2B investors:

  • Unwavering Chocolate Love: Consumers simply can’t resist the allure of chocolate. This enduring fondness for chocolate flavor translates to a steady demand for compound chocolate, a key ingredient in many delectable products.

  • Evolving Preferences: The market is adapting to meet changing consumer preferences. Reduced sugar options and protein-fortified varieties cater to health-conscious consumers, while exciting new flavor combinations keep things interesting.

  • Application Versatility: Compound chocolate’s strength lies in its adaptability. From confectionery classics to innovative bakery creations, it lends its rich flavor and texture to a vast array of treats.

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Growing Factors Expanding Market Horizons

Beyond the core demand drivers, additional trends are creating exciting investment opportunities:

  • Innovation is Key: Market leaders are constantly churning out new formulations and flavors, ensuring there’s something for everyone. This focus on innovation is crucial for staying ahead of the curve.

  • Sustainability Matters: Investors can support companies prioritizing ethical sourcing and eco-friendly packaging practices. Meeting the growing demand for sustainable products is a recipe for success.

  • E-commerce Boom: The rise of online platforms is making it easier than ever for manufacturers to reach new customers and expand their reach. This trend presents a golden opportunity for wider distribution.

Key Takeaways

  • Europe is expected to dominate the global compound chocolate market, accounting for market share of about 28% by 2022, followed by North America
  • France is expected to account for demand share of nearly 24% in Europe compound chocolate market
  • By product type, milk chocolate is expected to account for the lion’s share of the global market by the end of 2022
  • Online channel is expected to show an impressive growth as compared to all the other channels over the assessment period (2022-2032)

 “Increased consumption of milk chocolate for various applications in chocolate-based confectionery items, shakes, cakes, croissants, and hot chocolate will surge the demand for compound chocolate over the upcoming decade.”, says a Future Market Insights analyst.

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Competitive Landscape

Key market participants are following different marketing and promotional strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to address the needs of the consumers and serve accordingly, thus, creating a larger customer base in the coming years.

Key Companies Profiled

  • Clover Hill Food Ingredients Ltd.
  • Cargill Incorporated
  • ADM WILD Europe GmbH & Co.KG
  • Nestle S.A.
  • Wilmar International Limited
  • PURATOS
  • Shellz Overseas Pvt. Ltd.
  • INFORUM Group
  • Buhler AG
  • Barry Callebaut
  • Unigrà S.r.l.
  • Blommer Chocolate Company
  • CEMOI
  • HERZA Schokolade GmbH & Co. KG.
  • Clasen Quality Coatings, Inc.
  • Puratos Group
  • Mondelez International
  • Others

Key Takeaways for Investors:

  1. Lucrative Investment Opportunities: The compound chocolate market presents lucrative investment opportunities, with significant growth potential driven by increasing consumer demand and expanding market reach.
  2. Market Diversification: Investing in product diversification and innovation can help companies differentiate themselves in the competitive market landscape and capture larger market shares.
  3. Global Market Expansion: Exploring opportunities in emerging markets such as France, Germany, and the USA, where compound chocolate consumption is on the rise, can provide substantial growth avenues for investors seeking to expand their global presence.
  4. Adaptation to Health Trends: Aligning investments with health and wellness trends by offering organic, sugar-free, and dark chocolate variants can resonate with shifting consumer preferences and drive market growth.
  5. E-commerce Strategies: Leveraging e-commerce platforms for product distribution and sales can enhance market accessibility and reach, enabling companies to tap into new consumer segments and drive revenue growth.

Purchase now and gain full access to the Compound Chocolate Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

Explore More Valuable Insights

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

Global Compound Chocolate By Category

By Product Type:

  • Dark Chocolate
  • Milk Chocolate
  • White Chocolate

By Form:

  • Choco Chips
  • Chocolate Coating
  • Chocolate Slab
  • Other Forms

By Application:

  • Bakery and Confectionery
  • Ice Cream and Frozen Desserts
  • Chocolate Beverages
  • Snacks
  • Sauces and Spreads
  • Other Applications

By Distribution Channel:

  • Direct
  • Indirect
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Independent Retailers
    • Online Retailers

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Switched reluctance Motors Market Rising to USD 1039.1 million by 2033

Switched reluctance motors (SRMs) are attracting a growing buzz in the electric motor industry. Unlike traditional motors that rely on magnets, SRMs utilize the inherent tendency of magnetic fields to align for operation. This unique design offers several advantages, propelling the switched reluctance motors market forward. Let’s explore the factors driving this growth, delve into the trends shaping the future, and identify the exciting opportunities waiting to be harnessed.

Growth Factors: 

Several key trends are fueling the expansion of the switched reluctance motor market:

  • Focus on Efficiency and Simplicity: SRMs offer high efficiency across a wide range of operating speeds. Their simple design with minimal moving parts translates to lower maintenance requirements compared to conventional motors.
  • Rugged Construction and Durability: The absence of permanent magnets makes SRMs highly tolerant of harsh environments with extreme temperatures or dust. This durability is crucial for applications in industries like mining and construction.
  • Cost-Effectiveness: While initial costs might be comparable, SRMs often prove more cost-effective in the long run due to their lower maintenance needs and potentially longer lifespan.
  • Increasing Demand for Variable Speed Drives: SRMs excel in variable speed applications due to their inherent ability to handle wide speed variations without efficiency losses. This aligns with the growing demand for adjustable-speed drives in various industries.
  • Rising Focus on Sustainability: The absence of rare earth elements required for permanent magnets in traditional motors makes SRMs an attractive option from a sustainability standpoint.

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Trends Shaping the Future Landscape: 

The switched reluctance motors market is undergoing a transformation driven by several key trends:

  • Advancements in Control Algorithms: Sophisticated control algorithms are crucial for optimizing SRM performance. Continued advancements in this area will unlock the full potential of these motors.
  • Integration with Power Electronics: Seamless integration with advanced power electronics will further enhance the efficiency, controllability, and overall performance of SRMs.
  • Focus on Noise Reduction: Noise reduction strategies are being explored to make SRMs even more suitable for applications where noise is a critical factor.
  • Material Science Advancements: Developments in material science could lead to the creation of new core materials with improved magnetic properties, further enhancing SRM efficiency and performance.
  • Expansion into New Applications: As SRM technology matures and becomes more cost-competitive, we might see its adoption in new applications beyond traditional industrial uses, potentially including electric vehicles and home appliances.

Opportunities Abound: 

The switched reluctance motors market presents a wealth of opportunities for various stakeholders:

  • Manufacturers: Focus on developing innovative SRMs with improved efficiency, noise reduction features, and designs optimized for specific applications. Specialization in niche markets or power ranges could be advantageous.
  • Drive and Control System Providers: Develop advanced control algorithms and power electronics solutions specifically designed to optimize SRM performance and unlock their full potential.
  • Industrial Equipment Manufacturers: Integrate SRMs into their equipment to benefit from their efficiency, durability, and suitability for variable speed applications.
  • Research Institutions and Universities: Contribute to advancements in SRM technology by exploring new control methods, material science applications, and noise reduction strategies.
  • Government Agencies: Implement policies and incentives that encourage the adoption of SRMs in industries, promoting energy efficiency and sustainable practices.

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Railway Telematics Market Poised for 7.1% CAGR, Exceeding USD 13,320.1 Million by 2033

The global railway telematics market is estimated to be around USD 6,708.3 Million in 2023 and is anticipated to register a CAGR of 7.1% from 2023 to 2033. The overall valuation of the railway telematics market is to reach around USD 13,320.1 Million by the year 2033.

All the business sectors providing the solutions and services that go along with smart technology in railway transportation are anticipated to expand rapidly in the near future. Additionally, the ability to make quick decision-making for matters like asset deployment, use, and maintenance of railcars has increased the adoption of railway telematics across all countries.

Moreover, new technologies have become a necessity to make the freight and logistics sector more effective and superior. The adoption of railway telematics, including monitoring of refrigeration wagons and forecasted arrival times for every other railcar is the key factor driving the market in present times.

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Key Takeaways from the Railway Telematics Market Report:

  • According to this market study report, the United States holds a share of nearly 18.5% of the global railway telematics market. Owing to the presence of many leading OEM industries the overall revenue generated in the year 2023 is estimated to be around USD 1,241 Million.
  • Germany constitutes the largest regional market for railway telematics in Europe and offers plenty of room for further expansion. According to this statistics report, the country accounts for close to 4.7% of the money made by providing railway telematics services globally.
  • In Europe, the UK comes in second after Germany as the regional market for the adoption of railway telematics technology for freight management. This country is projected to witness a growth rate of 3.3% annually as per the market analysis figures.
  • China is the leading market among the Asia Pacific countries in terms of the production of railway telematics components as well as services. China is projected to register a higher CAGR of 4.3% from 2023 to 2033.
  • Japan is also a significant contributor to the Asia Pacific railway telematics market which acquires a share of 5.2% of the global market. With advanced component manufacturers as well as world-class service providers, this country is estimated to generate revenue of USD 349 Million in 2023.
  • As per the market report, India is the world’s fastest-growing market for railway telematics at present years. Through 2033, the region is expected to grow at a pace of 5.4% thanks to domestic railway infrastructure expansion projects and improved export capabilities.
  • From 2023 to 2033, the component segment of sensors is expected to grow at a higher rate than any other segment. This segment is also the major contributing segment that acquires a share of nearly 45.5% of the overall market.
  • Australia has garnered enough traction in the global railway telematics business recently having a strong export potential for South East Asian countries and other nations. This nation, which has a sizable train transit system, is thought to account for around 2.3% of overall worldwide income.

Leading Key Players:

  • Siemens AG
  • Alstom SA
  • Knorr-Bremse AG
  • Robert Bosch GmbH
  • Hitachi Ltd.
  • Intermodal Telematics
  • Intrex Telematics
  • ORBCOMM
  • Railnova
  • Savvy Telematics
  • Trinity Industries

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Railway Telematics Market Segmentation:

By Solution:

  • Fleet Management
  • Automatic Stock Control
  • Shock Detection
  • Remote data access
  • Railcar tracking and tracing
  • Reefer Wagon Management
  • ETA
  • others

By Railcar:

  • Hoppers
  • Tank cars
  • Well cars
  • Boxcars
  • Refrigerated Boxcars
  • Others

By Components:

  • TCU
  • Sensor
  • Others

By Train Type:

  • Passenger Train
  • Freight Train
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • 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   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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The Power of Convenience: How Superfood Powders are Revolutionizing Health and Wellness Poised for Growth to Reach USD 13.66 Billion by 2033

Superfood Powders Market
Superfood Powders Market

The superfood powders market is experiencing a surge in popularity, presenting a compelling investment opportunity for B2B investors seeking exposure to the thriving health and wellness sector. Expected to reach a staggering US 13.66 billion by 2033, the market is projected to grow at a robust CAGR of 7%. This growth is driven by a confluence of factors, including:

  • Rising Health Consciousness: Consumers worldwide are increasingly prioritizing healthy lifestyles, leading to a heightened demand for nutrient-rich food and beverage options. Superfood powders, packed with vitamins, minerals, and antioxidants, perfectly align with this trend.

  • Convenience Factor: Superfood powders offer a convenient and efficient way to incorporate concentrated doses of essential nutrients into daily routines. This is particularly appealing to busy consumers seeking to enhance their health without drastically changing their diets.

  • Diverse Applications: The versatility of superfood powders is another key driver. They can be easily blended into smoothies, yogurt bowls, protein shakes, baked goods, and more, catering to a wide range of taste preferences and dietary needs.

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Several key trends are propelling the demand for superfood powders, creating a fertile ground for B2B investors:

  • Organic and Vegan Preferences: Consumers are increasingly seeking organic and plant-based ingredients, and superfood powders cater to both preferences. Organic varieties are perceived as free from harmful chemicals and more sustainable, while vegan options align with plant-centric dietary choices.

  • Targeted Health Benefits: The market offers a wide range of superfood powders, each boasting specific health benefits. From blueberries for cognitive function to kale for detoxification, consumers can choose powders that address their individual needs.

  • Functional Superfoods: Functional superfood powders with targeted health benefits, such as immune support, gut health, or cognitive function, are gaining traction as consumers seek holistic wellness solutions.

Growing Factors Expanding Market Horizons

Beyond the core demand drivers, additional factors are presenting exciting growth opportunities for B2B investors:

  • Product Innovation: Market players are constantly innovating, introducing new flavors, blends, and formulations to cater to diverse consumer preferences and stay ahead of the curve.

  • Sustainability Focus: Investors can support companies prioritizing sustainable practices, such as eco-friendly packaging and ethical sourcing, to meet the growing demand for environmentally responsible products.

  • E-commerce Expansion: The rise of online platforms is making it easier for consumers to access and purchase a wider variety of superfood powders, particularly in regions with limited physical availability.

Key Takeaways:

  • By 2033, the United States of America is likely to hold a value share of 7.7% in the superfood powders industry.
  • The market in Germany is anticipated to account for 3.4% value share by 2033.
  • During the forecast period, the organic sub-segment is to remain prominent based on nature.
  • The market value for superfood powders reached US$ 6.58 billion in 2022, with a CAGR of 2.7% from 2018 to 2022.
  • Based on sales channel, the convenience store sub-segment is predicted to account for a significant share.

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How Intense is the Competition in the Superfood Powders Industry?

The superfood powders industry is characterized by intense competition as companies strive to capture the attention of health-conscious consumers seeking functional and nutrient-dense products. With the market witnessing significant growth, numerous players are entering the arena, offering a wide range of superfood powder blends and formulations.

Key competitors are constantly innovating, introducing new flavors, incorporating unique ingredients, and focusing on quality and transparency to differentiate them. Aggressive marketing strategies, collaborations with influencers, and expanding distribution networks also fuel the industry’s competitive landscape. Amidst this fierce competition, companies that can effectively communicate their product’s benefits, establish trust, and deliver exceptional quality are well-positioned to succeed in this thriving market.

Key Players Profiled in the Market

  • Aduna Ltd.
  • Barlean Organic Oils Ltd.
  • Creative Nature Ltd.
  • Nature’s Superfoods
  • Sports Supplements Ltd.

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Key Segmentation

By Nature:

  • Organic
  • Conventional

By Sales Channel:

  • Modern Trade
  • Convenience Store
  • Specialty Store
  • Pharmacy Store
  • Online Retail
  • Other Sales Channels

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

About Future Market Insights (FMI)

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

 Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Eco-Friendly Curing Agents and Booming Industries Drive Epoxy Curing Agent Market: Reaching USD 5.7 Billion by 2033

Epoxy Curing Agent Market
Epoxy Curing Agent Market

The market for epoxy curing agents is anticipated to grow at a robust rate of about 4.6% between 2023 and 2033. By 2023, the global market is expected to be valued at approximately USD 3,658.7 million and by 2033, it is expected to reach a peak of USD 5,740.0 million. Epoxy-curing agents are also frequently used as primers for protective coatings. A CAGR of 3.7% was predicted for the global epoxy curing agents market in 2022 based on FMI’s historical analysis. The dynamics of the epoxy curing agents industry are directly impacted by changing trends, such as the substitution of dicyandiamide curing agents, which bolster the market’s growth.

The development of curing agents with low volatile organic compounds is anticipated to increase the demand for epoxy curing agents in the forthcoming years. Furthermore, the upsurge in the requirement from several end-use industries such as the paints & coatings industry is anticipated to bolster growth in the market along with large demand for epoxy resin-based composites in the aerospace and wind-energy industries are expected to fuel the global forum of epoxy curing agents.

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According to the experts of Future Market Insights, the global market of epoxy curing agents is expected to have healthy growth. However, it has also been revealed that after studying the market in-depth, certain prevailing elements are likely to curb the growth in the long run.

Key Takeaways

  • The rising shares and surging growth of the manufacturing sector, construction sector, electronics, and automotive industry are prime drivers of reshaping dynamics in the concerned market.
  • Due to rapid technological advancements, and increasing consumer shift towards environmentally friendly options, the new environmentally friendly epoxy curing agents extend profitable opportunities to the market players in the forecast period.
  • Surging demand for electronic products such as smartphones and automotive electronic equipment also increases the demand for epoxy curing agents over the projection period.
  • According to the research conducted by the experts of Future Market Insights, epoxy curing agents have diverse usage in multiple building and construction applications as they possess high sheer strength, coupled with better quality finish characteristics. Furthermore, rapidly changing trends like replacing dicyandiamide curing agents in the construction sector are likely to make a major contribution to driving the growth of the epoxy curing agents market during the assessment years.
  • Consumers are drastically shifting their preferences towards a better standard of living owing to a rise in disposable income along with a significant shift of preference within the construction industry for decorative buildings, along with increased spending by the government on sustainable construction, which is estimated to propel the sales of epoxy curing agents further amidst the period 2023-2033.
  • Increasing demand for adhesives from the construction industry is propelling the growth and advancements within the global epoxy curing agents market. In addition to that, demand for lighter components in the automotive industry is also known as a key demand driver over the projection years.

Competitive Landscape

The global epoxy curing agents market exhibits lucrative growth opportunities, as the market players are desperate to grab benefits out of the immense opportunities in the market. The need for improved coatings in construction activities has generated a plethora of opportunities for growth within the global epoxy curing agents market. Furthermore, the manufacture of silicone rubber also incorporates the utilization of epoxy curing agents which is one of the prominent factors bolstering growth in the market. The epoxy curing agents companies are maximizing their revenue potential by creating sustainable offerings as the sustainability trend is on the rise on a global scale.

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Top Key Players in the Epoxy Curing Agents Market

  • BASF SE
  • Evonik Industries AG
  • Aditya Birla Corporation
  • Olin Corporation
  • Toray Fine Chemicals
  • Mitsubishi Chemical Corporation
  • Westlake Corp.
  • Resonac Holdings Corporation
  • Cardolite corporation
  • Atul Ltd.
  • Henkel Group
  • SABIC

More Insights into the Epoxy Curing Agents Market

The United Kingdom is expected to dominate the European epoxy curing agents market by accounting for a robust growth of around 8% through the forecast period. The growth in the region is attributed to account for the strong presence of leading aircraft component manufacturing companies all over the country. Furthermore, a surging preference for lightweight components for manufacturing aircraft structures is propelling the adoption of epoxy-curing agents. A significant increase in the application of epoxy resins in various industries such as construction, paints, and coatings will improve the demand in the market. Favorable government policies mandating the use of eco-friendly materials are compelling end-users to adopt this product further.

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Packaging Machine Heaters Market Size Projected USD 7.4 billion by 2033

The global packaging machine heaters market size is likely to be valued at USD 5.3 billion in 2023. The increasing demand from the automobile and the automotive sector is driving market growth. The market is estimated to garner USD 7.4 billion in 2033, recording a CAGR of 3.5% from 2023 to 2033.

The growth of the packaging machine heaters market is driven by increasing demand for packaged products across various industries, such as food and beverages, pharmaceuticals, personal care, and consumer goods. The trend towards automation and the need for higher production efficiency are driving the demand for advanced packaging machines with efficient heaters.  Manufacturers are seeking packaging machines that can operate at high speeds, deliver consistent heat output, and optimize energy consumption. Heaters that offer fast heat-up times, precise temperature control, and energy efficiency are in high demand.

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The rising expansion of industries and industrialization in emerging economies, particularly in the Asia Pacific and Latin America, is driving the demand for packaging machine heaters. North America is a significant market for packaging machine heaters, driven by the presence of a well-established packaging industry, technological advancements, and high consumer demand. Europe is another prominent market for packaging machine heaters, driven by factors such as the presence of leading packaging manufacturers, increasing demand for packaged products, and emphasis on sustainability.

Key Takeaways from the Market Study

  • From 2018 to 2022, the packaging machine heaters market demand expanded at a CAGR of 2.4%
  • Based on product type, the standard heaters segment accounts for a CAGR of 3.3%
  • By end-use, the automotive segment is expected to expand at a CAGR of 3.4% during the forecast period
  • North America to emerge as a promising packaging machine heaters market, capturing a CAGR of 3.4%
  • The packaging machine heaters industry in the United Kingdom is predicted to reach US$ 3.2 billion by 2033
  • South Asia and the Pacific to be an opportunistic packaging machine heaters market, expected to capture a CAGR of 3.1% during the forecast period.

 Competitive Landscape

The global packaging machine heaters market is fragmented with the presence of several large and medium-scale players. The leading players in the packaging machine heaters market are investing in strategic agreements in order to capture market share. Prominent players in the packaging machine heaters market are:

  • OMEGA HEATER
  • Watlow
  • Nordic Sensors Industrial Inc.
  • Cartridge Heater Maxiwatt
  • KIT HOFHEIM
  • Türk+Hillinger
  • Vulcan Electric
  • Tutco Heating Solutions Group
  • Backer Hotwatt
  • Thermal Corporation

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 Key Market Development

  • Watlow, a leading provider of industrial heaters and temperature controllers, has been focusing on developing advanced heaters for packaging applications. They have introduced innovative cartridge heaters with integrated temperature sensors and improved thermal performance. These heaters are designed to enhance temperature control accuracy and optimize energy efficiency in packaging machines.
  • Hotset GmbH, a manufacturer of heating elements and systems, has recently launched new band heaters with enhanced features for packaging machines. These band heaters are designed with improved insulation materials and advanced temperature control mechanisms to ensure precise heat distribution and maintain consistent heat sealing and shrinking performance.

Bathtub Market Set to Reach USD 18.91 Billion by 2033: Surge Expected with Integration of Smart and IoT Technologies

Bathtub Market
Bathtub Market

The bathtub market is forecasted to experience a 5.77% compound annual growth rate (CAGR) throughout the projected period. Anticipated growth indicates that the market size will escalate from USD 10.79 billion in 2023 to USD 18.91 billion by 2033.

The increasing adoption of bathtubs in the construction and hospitality industries is a significant driver of this growth. Additionally, changing consumer preferences, new product launches, and government initiatives promoting the use of sanitary ware are expected to bolster market growth further.

In 2021, the residential segment contributed significantly to the global bathtub market, accounting for 58.65% of the revenue. The segment is expected to continue growing steadily at a CAGR of 5.9%, driven by the expansion of the housing sector worldwide.

The demand for smart and intelligent bathroom products that are easy to install and incorporate digitization is also expected to fuel the overall demand for bathtubs in residential applications.

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The alcove bathtub segment accounted for almost 35% of the global bathtub market share in 2021, with their ease of installation, affordable cost, and versatility in design. All these features of bathtubs make them a popular choice for residential bathrooms, particularly for small spaces.

Fiberglass and acrylic bathtubs are the two important materials dominating the market, with fiberglass bathtubs accounting for 31.73% of the global market, and acrylic bathtubs holding a significant share of 46.7%.

North America held a significant share of the global bathtub market in 2020, accounting for 31.9%, with the residential segment being the notable contributor to market growth. The increasing demand for luxury bathroom fittings, rising disposable income, and growing awareness about bathroom aesthetics are driving market growth in North America.

Europe held a significant share of the market in 2021, accounting for 31.5% of total market revenue. Europe bathtub market is expanding due to several factors, including rising demand for luxurious bathroom products and increased residential and commercial construction activity.

Asia Pacific is the region with the swift-growing bathtub market, with a CAGR of 6.55%, driven by the increasing demand for modern bath ware in the region.

In conclusion, the global bathtub market is set to experience robust growth in the coming years. Additionally, market growth is fuelled by the factors such as changing consumer preferences, new product launches, and increasing investments.

The demand for smart and intelligent bathroom products, the expanding residential construction sector, and rising disposable income in various regions are also significant contributors to the growth of the bathtub market.

Competitive Landscape

Major companies in the market are increasingly focusing on sustainable business practices, partnerships, and innovation as a means of achieving growth. In particular, they are concentrating on sustainable manufacturing by using high-quality raw materials in the production of bath ware products that can be recycled in the future. These companies are also continuously improving their recycling techniques to maintain a strong position in the overall market.

  • In October 2021, the Porcelanosa Group expanded its product offerings in Mexico with new designs of ceramics, tiles, construction systems, sustainable bathrooms, and infinite kitchens. By diversifying its product range, the company aims to provide a wide selection of products, including kitchen and bathroom equipment that meet the expectations, tastes, and needs of consumers.
  • In November 2022, Fox Valley Home Services introduced a new acrylic walk-in bathtub designed for adults of all ages and capabilities.
  • In September 2022, Kaldewei launched its new Meisterstück Oyo Duo bathtub made from recyclable Kaldewei steel enamel. This new product offering aligns with the company’s commitment to sustainable manufacturing practices.

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Key Segments Covered in the Bathtub Market Report

By Type:

  • Free Standing
  • Alcove
  • Drop-in
  • Others

By Application:

  • Residential
  • Commercial

By Material Type:

  • Fiberglass
  • Acrylic
  • Cast Iron
  • Others

By Shape:

  • Rectangular
  • Oval
  • Square
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

About Future Market Insights (FMI)

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

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Copper Foil Market to Boom at 7.4% CAGR Driven by Electronics and Electric Vehicles

Copper Foil Market
Copper Foil Market

FMI’s analysis projects that the global copper foil market will grow at a compound annual growth rate (CAGR) of 7.4% during the forecast period. By the end of 2033, the industry is expected to have grown from USD 6,732.3 million in 2023 to USD 13,746.9 million.

The robust growth of copper foil industry can be credited to the surge in demand for electronic gadgets like tablets, laptops, and mobile phones. The demand for electronic gadgets can be traced back to the rise in online education programs, digitization, and the Internet of Things (IoT). Couple of factors such as elevating discretionary income, several digitization initiatives by governments, favorable policies, and economical internet usage plans, etc., in the developing economies are stimulating market development.

Rising prevalence of electric vehicles in developed countries like the United States, the United Kingdom, and Germany, is anticipated to spur utilization of copper foils. Electric automotives or EVs are observing heightened demand, underpinned by regulations on carbon emissions and accelerating awareness pertaining to environmental concerns. Building onto the rising prevalence of EVs, automotive manufacturers like MG Motors and Renault presented hybrid vehicles in emerging economies to further the market growth of EVs. As a result, copper foil industry is also benefitting from this shift in consumers preference.

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Top Highlights from the FMI’s Analysis of the Copper Foil Industry:    

  • The United States is projected to bag prominent share of the copper foil industry, i.e., a total of 9.9% share by the end of forecast period. Rising production of electronic vehicles in the country is a significant reason that is backing the market growth.
  • India is expected to emerge as a robust-paced market for copper foil in the years to come, growing at a CAGR of 8.8%. Manufacturing units or companies in India offering several processes, including design, development, production, and maintenance of copper foils under single roof, is pushing the market expansion in India.
  • In Europe, Germany is projected to hold sizeable amount of market share, i.e., 3.8%. Escalating demand for energy storage and electric vehicles in the country are prime factors propelling the market growth.
  • The United Kingdom is predicted to grow at 4% CAGR over the upcoming years, driven by the increasing initiatives by European Union to reach its goal of circular economy by 2030.
  • Copper foils are being profusely used in the development of batteries, thereby leading to segment growth. By application, batteries segment is estimated to contribute 17.6% share in the market.

Key Players Charged with Expansion of Market Growth

The market in focus is considered fragmented. For enhancing the geographical footprint, key players are employing strategies like joint ventures and acquisitions. As per FMI’s research, companies are likely to acquire medium or small-scale manufacturing units to cater to the robustly expanding demand for copper foil from various verticals. Apart from this, the top companies in the market are intending to scale their production capacities in multiple regions for a better product reach.

  • Rogers Corporation and Farasis Energy(GanZhou)Co.,Ltd. came together in July 2021 to deploy their resources and technology to contribute towards product development and innovation. The main motive of this joint venture is to enhance the performance, safety, and lifespan of battery packs.
  • JX Nippon Mining & Metals Corporation, in August 2021, set up a new company by the name of JX Metals Circular Solutions Europe GmbH. With this establishment, the company aims to encourage the recycling of castoff automotive lithium-ion battery, along with the development projects battery materials. The expansion is projected to contribute towards company’s expansion.

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Key Segmentation of the Copper Foil Industry

By Grade:

  • ETP
  • DHP

By Application:

  • Printed Circuit Boards
  • Heat Exchangers
  • Batteries
  • Busbars & Switchgears
  • Radiators
  • Electrical Equipment (Transformers, and Cables)
  • Others

By Thickness:

  • 0.01 to 0.1 mm
  • 0.1 to 1mm
  • 1mm to 3mm
  • 3mm to 12mm
  • 12mm to 25 mm
  • 25 mm to 60 mm

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa (MEA)

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Japanese Aircraft Cleaning Chemicals Market is Set to Reach USD 2,500 Million by 2032

Aircraft Cleaning Chemicals Market
Aircraft Cleaning Chemicals Market

By the end of 2022, the Japanese market for aircraft cleaning chemicals is anticipated to be worth USD 1,385 Million, according to projections by Future Market Insights. The Japanese aircraft cleaning chemicals market is anticipated to expand steadily between 2022 and 2032 with a CAGR of 3.5%, reaching a market value of USD 2,500 Million by that time. Bulk of the Japanese population’s rising disposable income has made flying more accessible to the general public. Additionally, this has increased the number of people using airplanes, which may raise the demand for aircraft cleaning chemicals throughout the projection period.

In addition, there has been a sudden surge in the number of military aircraft since 2018 and with this, there has been a rising demand for maintaining these aircraft. The Japanese government is aimed at equipping each of the aircraft with the best advancements and special focus on its regular cleaning routines to maintain hygiene. Such developments are expected to accelerate the demand for aircraft cleaning chemicals in Japan. During the projection period, a respectable growth rate is anticipated for the Japanese market.

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Around 4.36 million people traveled by air in 2019, setting a record, however, the global pandemic caused that number to drop to 1.39 million in 2021. However, economists believe that when things improve, the number of passengers on airplanes will rise. This will boost the growth in the civil aircraft industry and as a result of this, there will be a prominent growth in the Japanese aircraft cleaning chemicals market. Due to the efficiency they provide, solvent-based chemicals are predicted to have the largest market share in Japan. During the projection period, solvent-based chemicals are anticipated to expand at a CAGR of almost 4.4%. The availability of cleaning products with a bio-based basis is one of the key factors contributing to the expansion of solvent-based chemicals.

Key Takeaways

  • The Japanese market for aircraft cleaning chemicals was estimated to hold a market valuation of US$ 1,209.25 Million in 2022.
  • Globally, the Japanese aircraft cleaning chemicals market will occupy a 25% share in 2022.
  • By product type, dry wash cleaning products are expected to occupy 42% of the Japanese shares in 2022.
  • By formulation, solvent-based cleaners are expected to gain 32% shares in 2022.
  • By end-use, military aviation is expected to acquire 31% of the shares in the Japanese market.

Competitive Landscape

The key players present in the Japanese aircraft cleaning chemicals market are Henkel Japan Ltd, Chemetall Japan KK, Arrow Electronics Japan, KK, Cee-Bee Chemical Co., Aerosense Inc., and Jet Stream Aviation Products, Inc.

The major businesses are focusing on developing products that promote good health in addition to a new safety feature, which is formulating non-flammable products. These are often relatively cheap and have a light smell. The newly created product also delivers reduced chemical evaporation, which increases the product’s efficacy even more.

Recent Developments

  • With a line of unmanned aerial vehicles (UAVs) that cater to a variety of industries, including surveying, construction, agriculture, inspection, broadcasting, and logistics, Aerosense is making headway in the drone market. These can enhance the effectiveness of the cleaning procedure for aircraft.
  • Along with UAVs, Aerosense’s Aerobo Marker and Aerobo Cloud automate and optimize conventional surveying techniques, cutting down on the number of hours required to accomplish projects. Using its headquarters in Tokyo, Japan, Aerosense offers a completely automated solution for the commercial demands of aviation cleaning chemicals with Japanese-made UAVs.

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Aircraft Cleaning Chemicals Market Segment

By Product Type:

  • Exterior
  • Interior

By Formulation:

  • Water Based
  • Solvent-based
  • Wax Based

By End Use:

  • Civil Aircraft
  • Commercial/Cargo Based Aviation
  • Military

About Future Market Insights (FMI)

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

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube