Market Research Blog – Page 3230 – New Product Development

Liquid Silicone Rubber Market Set to soar to US$ 10.1 Billion by 2033, Driven by Medical, Automotive, and Aviation Industries

The liquid silicone rubber market is expected to hold a valuation of US$ 6.9 billion in 2023. The market is expected to witness a 3.9% from 2023 to 2033. By 2033, the value is expected to cross US$ 10.1 billion.

The liquid silicone rubbers are equipped with the ability to perform under a wide range of temperatures, ranging from -50 0C to 165 0C. Owing to this, these are majorly used in the aviation industry. Furthermore, these also display excellent resistance to chemicals. Thus, they find application in procedures in the medical sector, including ENT, heart surgery, etc.

Liquid silicone rubber is witnessing massive demand in the automobile and automotive sectors as well. The ability to provide a superior compression set and to act as a gloss enhancer is expected to surge their application. The silicone rubbers also work as a dampening medium for the instruments in vehicles. The significant surge in demand for electric vehicles represents massive scope for the market. These are being used in power transmission equipment owing to their heat stability.

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Surging electronics sector presents lucrative opportunities for the market. Silicone is believed to be the heart of the electronics industry as it assists in encapsulating a bulky circuit into a miniaturized system. The liquid silicone rubbers protect the electronic circuits from shock, heat, and various forms of contaminants. These are also employed in critical electronic components like transistors, capacitors, and tubes in electronic devices.

The injection moulding market also makes use of liquid silicone rubbers. This can be attributed to the fact that these silicone rubbers offer high shelf life and provide electrical resistance as well.

Thus, the FMI researchers are of the opinion that the ability to work under extreme conditions, coupled with electrical resistance offered, growth of the electronics sector and a number of other factors, are expected to surge the liquid silicone rubber market growth during the forecast period.

Key Takeaways:

The market is projected to be valued at US$ 6.9 billion in 2023.
By 2033, the valuation is expected to cross US$ 10.1 billion.
The CAGR during the forecast period is predicted to be 3.9%.
Based on the regional analysis, North America is anticipated to be the dominant market.
The United States market is projected to grow at 3.6%.
The United Kingdom market is estimated to surge at 3.4%.
China market is forecasted to advance at 3.6%.
Japan liquid silicone rubber market is expected to surge at 4.5%.
India market is projected to record 4.3%.
On the basis of grade type, the industrial grade segment is expected to hold the prominent market share and is expected to register a CAGR of 4%.
On the basis of technology, the liquid injection molding system segment is anticipated to hold a significant market share and is projected to record a CAGR of 3.5%.

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Competitive Landscape:

The key players operating in the liquid silicone rubber market are expected to form strategic partnerships with players from other niches, especially those from the electronics and automobile sector. There is also a lot of emphasis being laid on the process of mergers and acquisitions. The players who are entering into new markets are focusing on inorganic growth, as the local players would be well-versed with demographic tastes. Furthermore, huge amounts are being invested in technological upgradation with a view to reducing waste accumulation.

In November 2022, Dow selected AB Specialty Silicones as the authorized distributor for elastomeric roof coating market in the United States and Canada.

Dominant players in the Liquid Silicone Rubber Market

Dow
Momentive Performance Materials, Inc.
Evonik Industries AG
Bluestar Silicones International
SiVance

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:

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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Affordable Protein Power US$ 6.5 Billion Surimi Market Driven by Health and Cost-Conscious Consumers | FMI

According to Future Market Insights (FMI), the global surimi market is set to be valued at US$ 3,572.7 million in 2023. Over Between 2023 and 2033, there is a forecasted ten-year compound annual growth rate (CAGR) of 6.1% for the global surimi market. By 2033, the total market valuation is expected to reach US$ 6,548.3 million.

A balanced diet and leading healthy lives are becoming increasingly well-known advantages. Health-conscious customers place a high emphasis on exercise and weight control as ways to reduce their chance of acquiring health issues and diseases, such as high blood pressure, diabetes, heart disease, and cholesterol.

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Many health-conscious consumers focus just on exercise and don’t eat enough protein, which can lead to a number of inadequacies. They are eating a greater proportion of protein-based foods, like surimi, than calorie-based foods in order to avoid deficits and maintain healthy lifestyles.

Because surimi is high in protein, rising surimi consumption is anticipated to support the surimi market globally over the projected period.

The development of the market will be positively impacted by the adoption of innovative manufacturing methods to increase surimi production.

Apart from the United States and Europe countries, surimi is a widespread ingredient in other emerging markets. Countries such as India offer lucrative opportunities for manufacturers of surimi due to the presence of recognized surimi brands such as Grande Marine.

Businesses use a variety of manufacturing processes, including enzyme-assisted processing, microwave-assisted processing, high pressure processing, and ultrasonic processing. Consequently, this is contributing to the market’s growth.

The retail sector in India is seeing a rise in demand for surimi products like fish sticks, crab sticks, and flakes. The popularity of “grab and go” convenience items and tiny packaging sizes has increased.

Surimi allows manufacturers to imitate the texture and taste of more expensive products, such as lobster tail, by using less-expensive materials. Growing usage of surimi for making various kinds of high-nutritional processed foods is expected to boost the market.

Affordability is a considerable factor in increasing retail sales of surimi. Consumers have noted that surimi is just one-third the price of other seafood. It is a low-cost source of protein that is simple to incorporate into seafood meals by individuals cooking at home.

Key players are investing in research & development to create new varieties with innovative characteristics. New high-quality products with sustainable packaging are being introduced into the market to meet the changing consumer demand.

For instance,

In December 2022, to decrease the amount of plastic and increase recyclability, Mondi gave Angulas Aguinaga supplementary packaging. It was made of recyclable paper for its Krissia brand chilled surimi sticks.
In September 2020, the Japanese seafood company, Maruha Nichiro, introduced a new line of surimi-based products called “Crab Tsumami”. These are made with a combination of real crab meat and surimi paste.

“Growing consumer awareness surrounding organically-sourced foods is a major trend driving growth for surimi products. Manufacturers are likely to find significant growth opportunities in crafting products that are affordable, offer various flavors, and available in compact packs for instant consumption.” – says a lead analyst at Future Market Insights (FMI)

Key Takeaways from the Report:

Global demand for surimi is projected to rise at 1% CAGR during the assessment period.
By species, fish surimi segment is anticipated to hold about 55% share of the global market.
Based on form, fresh category is likely to top a valuation of US$ 2,220.2 million by the end of 2023.
The United States surimi market is expected to reach a valuation of US$ 568.2 million by 2033.
East Asia is projected to account for about 0% share in the surimi market by 2023.
China surimi industry is projected to reach a valuation of US$ 1,888.7 million.

Who is Winning?

Trident Seafoods, Aquamar Inc, American Seafoods Group, Maruha Nichiro Group, Russian Fishery Company, Viciunai Group, Seaprimexco Vietnam, Trans-Ocean, Thong Siek Global, Gadre Marine, Glacier Fish Company, Ocean More Foods Co., Limited, A B Golden Seafood, Arctic Storm Management Group, Maruha Nichiro Group, Seapack Food, Russian Fishery Company, and Trans-Ocean Products are few of the key manufacturers of surimi profiled in the report.

These companies are constantly upgrading their portfolios by launching new surimi varieties. They are also adopting merger & acquisition strategy as well as forming alliances and partnerships to expand their presence. For instance,

Recently, new surimi-eel dishes were introduced by Angulas Aguinaga for young customers.
In January 2023, Santa Bremor announced that it will relocate the production of surimi sticks to its Russian Sea plant in Noginsk.

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Surimi Market Outlook by Category:

By Species:

Fish Surimi
Alaska Pollock
Atlantic Cod
Tilapia
Black Bass
Others
Meat Surimi
Pork
Beef

By Form:

Fresh
Whole
Fillet
Processed
Canned
Frozen
Whole
Fillet

By Sales Channel:

Direct Sales
Indirect Sales
Modern Trade
Convenience Stores
Specialty Food Stores
Wholesale Stores
Discount Stores
Online Retail
Other Retail Formats

By Application:

Food Industry
Pharmaceutical Industry
Animal Feed
Pet Food
Food Service
Retail

By Region:

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

Get More Valuable Insights into Surimi Market:

Future Market Insights (FMI), in its offering, provides an unbiased analysis of the surimi market by presenting historical data between 2018 and 2022 and forecast statistics for the period from 2023 to 2033.

The study divulges compelling insights on the surimi market based on species (fish surimi (Alaska pollock, Atlantic cod, tilapia, black bass, others)) and (meat surimi (pork, beef)), form (fresh (whole, filet)) and processed (canned, frozen (whole and filet)), sales channel (direct sales and indirect sales (modern trade, convenience stores, specialty food stores, wholesale stores, discount stores, online retail, other retail formats)), and application (food industry, pharmaceutical industry, animal feed, pet food, food service, retail) across prominent regions.

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 5000 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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Wearable Computing Market Set to Reach US$ 2,31,452.5 Million by 2032, Growing at 17.5% CAGR

The global wearable computing market is anticipated to be worth US$ 2,31,452.5 million. The wearable computing market is quickly expanding. According to FMI Analysts, the global Wearable computing market is expected to be worth US$ 46,267.9 million in 2022 and to grow at a CAGR of 17.5% from 2022 to 2032.

The term wearable computing refers to the technology embedded in wearable accessories like watches and wristbands to function as electronic devices that make access to technology easier. Wearable computing is widely used for media and healthcare applications. These devices all possess smart and advanced features such as easy synchronization and high portability, which make them extremely popular, creating demand for wearable accessories.

Consumers are increasingly attracted to wearable computing devices thanks to their features, such as gyroscopes and accelerometers, which provide various computational support. Furthermore, advances such as data monitoring, compact design, and enhanced portability are also driving the wearable computing market in future years.

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It is also important to note that consumers are increasingly attracted to smart gadgets than to wearable gadgets, which in turn are driving the sales of wearable computing. However, long battery life and high costs of wearable computing will hinder the wearable computing market growth over the forecasted period.

Despite the rise in awareness about wearable computing technology, the inclination towards smart gadgets and an increased inclination to wearable computing drive the demand for this market in North America, which occupies 37.7% of the market, and Europe, with 23.6%. The US and Canada are projected to see enormous growth opportunities in the wearable computing market shortly in terms of wearable computing technology.

An optical sensor will be integrated into the body of a smartwatch, which will be able to read the wearer’s fingers, wrists, and arms, and the Pixel Watch is slated to debut in 2020. In 2019, Google invested USD 40 million in Fossil’s property rights. As announced on Weibo, Xiaomi’s Huami subsidiary will release the Mi Band 5 in April 2020. The Amazfit 4 range will also get a new addition called the Amazfit Ares, which will feature 70 different sports modes and a rough “urban outdoor” look.

How is the Performance of North America & Europe in the Wearable Computing Market?
North America holds a market share value of 37.7% for wearable computing, and Europe holds a market share value of 23.6% for wearable computing. As a result of increasing awareness about wearable computing technology and growing inclination toward smart gadgets, they are combined to spur demand for wearable computing in North America.

As for the future of wearable computing technology, countries such as the United States and Canada are expected to see a lot of opportunistic growth in the wearable computing market in the future.

Shortly, the Asia-Pacific region is projected to have the fastest growth rate in the wearable computing market due to constant innovation and improvement in technology. Countries such as India and China are expected to demonstrate positive growth during the period.

Leading Key Players:

Adidas AG
Zephyr Technology Corporation
Casio Computer Company Ltd.
Jawbone
Fitbit, Inc.
Samsung Electronics Co., Ltd.
Apple, Inc.
Sony Corporation
Motorola Mobility Holdings, Inc
Pebble Technology Corporation
LG Electronics Inc
Garmin Ltd.
Contour, Ascension Technology Corporation
GoPro
Siemens Healthcare
NanoSonic
Weartech
Smart Life Technology Co.Ltd.
GE Healthcare
Textronics
Himax Technology
Medtronic Inc.
Carl Zeiss Inc
Invensense Inc.
AiQ Smart Clothing Inc.
Silicon Micro Display
CSR plc.

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Wearable Computing Market Segmentation:

By Product Type:

Smartwatches
Essential Round-Up
Head-Mounted Displays
Smart Jewellery
Implantable

By Application:

Consumer
Smart Glasses
Wearable Cameras
Smart Clothing
Gaming Devices
Non-Consumer
Fitness And Wellness
Medical And Healthcare
Enterprise And Industrial
Infotainment
Others

By Region:

North America
Latin America
Europe
Asia-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

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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Global Respiratory Heaters Market is expected to exceed US$ 3.31 Million by 2033, driven by technological advancements according to the FMI Report

The global respiratory heaters market is set to experience significant growth, with projections indicating a notable surge from its current value of US$ 1.43 million in 2023 to an impressive US$ 3.31 million by 2033. This insight emerges from an extensive study that forecasts a Compound Annual Growth Rate (CAGR) of 9.8% for the global respiratory warmers market over the next decade.

Conducted with meticulous analysis and industry insights, the study underscores the escalating demand for respiratory heaters, emphasizing their pivotal role in addressing critical healthcare needs. Contributing factors to this growth trajectory include technological advancements, the increasing prevalence of respiratory conditions, and a heightened focus on patient comfort and care.

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“Respiratory heaters play a crucial role in modern healthcare, providing essential warmth and comfort to patients,” said FMI. “The projected growth of the global respiratory heaters market reflects the growing awareness and adoption of these devices in healthcare facilities worldwide.”

As the healthcare industry continues to evolve, the demand for advanced respiratory care solutions is expected to rise. Respiratory heaters offer benefits such as improved patient outcomes, enhanced comfort during procedures, and efficient management of respiratory conditions.

With the forecasted growth, manufacturers, healthcare providers, and stakeholders in the respiratory care sector are poised to witness new opportunities for innovation and market expansion. The study’s findings provide valuable insights for industry players aiming to capitalize on the burgeoning market for respiratory heaters.

Key Takeaways from the Respiratory Heaters Market Study Report:

The United States has historically had a leading position in the global market due to the region’s high prevalence of chronic respiratory illnesses. In the year 2022, the whole of North America, including Canada, generated a global revenue share of 32.1%.
European countries together contributed 29.5% of the overall revenue generated globally in 2022, while Germany was figured out to be the leading region. Additionally, the higher adoption of cutting-edge respiratory assistance equipment supported by the developed healthcare infrastructure could drive the market further in this country.
The demand for respiratory heaters in the United Kingdom is growing faster than in other European countries. Furthermore, making it easier to use respiratory heaters and advantageous reimbursement regulations support the country’s market supremacy in the European region.
The demand for respiratory heaters could grow profitably in Asia, fueled by improved economic conditions and rising public knowledge of respiratory assistance devices. The need for portable respiratory warmers in surgical settings and the mentioned factors are all driving the market in China and India.

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Competitive Landscape for the Respiratory Heaters Market Players:

Some key players are Great Group, HomeCare Medical, GE Healthcare, Armstrong, Medline, Teleflex, Care Fusion, WILAmed, Fisher & Paykel, and Shenyang.

Manufacturers might look towards geographic expansion to grow their firm by entering new regional markets with strong growth potential. This might entail forming alliances with regional distributors, performing market research to comprehend local requirements and preferences, along with customizing the products.

Recent Developments by the Respiratory Heaters Manufacturing Industries:

In March 2023, ResMed announced the release of their new ‘AirSense 11 AutoSet for Her’, a CPAP machine made exclusively for women. This new product has several innovative features, including an integrated heated humidifier and an operating algorithm tailored specifically for women.

In April 2023, Fisher & Paykel Healthcare Company unveiled its new SimplyGo Heated Humidifier to be used with home mechanical ventilation. It is portable and designed especially for patients who regularly travel frequently.

Key Segments Covered by the Respiratory Heaters Industry Survey Report:

Respiratory Heaters Industry Segments by Application:

Asthma
Chronic Obstructive Pulmonary Disease (COPD)
Bronchitis
Other Applications

Respiratory Heaters Industry Segments by End User:

Hospitals
Clinics
Home Healthcare
Other End Users

Respiratory Heaters Industry Segments by Region:

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

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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

Social TV Market Forecasts 12% CAGR, Hits US$ 7 Billion by 2033

The future of the social TV market appears to be incredibly promising, with a forecasted (CAGR) of 12%, propelling the industry towards a substantial market value of US$ 7 billion. This anticipated growth underscores the dynamic nature of the social TV market, driven by the convergence of television and social media.

As viewers increasingly seek interactive and engaging content experiences, social TV represents a powerful platform for bridging the gap between traditional broadcasting and the digital age. This growth trajectory is indicative of the ongoing transformation in how we consume and interact with television content, promising a vibrant and lucrative future for the social TV market.

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As social media platforms become more popular, enterprises are exploiting their capabilities to obtain insights into customer behavior to create a better customer experience. The television and entertainment industries are also cooperating with social media businesses to improve client engagement and experience. The integration of social media sites into television allows for the convergence of social layers into entertainment and allows users to engage with other viewers while watching television.

Key Takeaways from the Social TV Market Report:

Global Social TV Market is estimated to reach a market size of US$ 2.1 Billion by 2022.
In terms of Solutions, the Software segment is expected to have the highest CAGR rate of 11.8% during the forecast period.
In terms of Application, the TV Shows segment is expected to have the highest CAGR rate of 10.9% during the forecast period.
United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 1.2 Billion during 2022 – 2032.

The market in the U.S. is set to experience the highest CAGR of 8.3% during the 2022-2032 forecast period.

Leading Key Players:

Talkwalker Inc.
Flowics
SentabTV
Telescope
Haier Group
Hitachi, Ltd.
iPowow Ltd
Sharp Corporation
Snipperwall
Socialbakers Ltd.

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Some of the recent market developments are as follows:

In July 2020, Talkwalker, a provider of social monitoring and audience insights software announced the purchase of Nielsen Social. Talkwalker’s AI-enabled translational intelligence platform will benefit from Nielsen Social’s revolutionary Social Content Ratings solution.
The purchase would strengthen Talkwalker’s existing position in servicing global brands while also expanding its footprint in the US enterprise market. Talkwalker has achieved another milestone with this purchase.
In April 2021, Panasonic Corporation agreed to take over Blue Yonder, a prominent end-to-end digital fulfillment platform provider. Later, Panasonic acquired the remaining 80% of Blue Yonder’s shares for US$ 5.6 Billion, adding to the 20% it bought in July 2020. The extra investment, including debt repayment, totaled US$ 7.1 Billion, pricing Blue Yonder around US$ 8.5 Billion.
Bringing together Panasonic’s strengths in industrial engineering, IoT, and edge technologies alongside Blue Yonder’s AI/ML-driven supply chain as well as commerce solutions significantly increases the consumer value of Blue Yonder’s premier digital fulfillment platform. Panasonic and Blue Yonder will work together to provide clients with a competitive edge by driving more automation and actionable, real-time business analytics that cut waste and enhance operations while building a more sustainable world.
In March 2021, Hitachi, Ltd. announced the acquisition of GlobalLogic Inc., a prominent digital engineering services firm located in the United States. The transaction is based on a formal agreement between Hitachi’s Global Holdings Corporation, a subsidiary in the United States.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Social TV Market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Social TV Market by Solution (Software, Services) and application (Sports, News, TV shows, Others), across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

Social TV Market Segmentation:

By Solution:

Social TV Software
- Broadcast Integration
- Audience Engagement
- Content Moderation
Social TV Analytics
- Social Networking Platform
- Others
Social TV Services
- Integration and Consulting
- Operation & Installation
- Maintenance & Repairing

By Application:

Sports
News
TV shows
Others

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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

India’s Construction Chemicals Market Poised for Explosive Growth: CAGR of 13.1% Projected by 2033

The India construction chemicals market is projected to substantial CAGR of a magnitude of 13.1% over the forecast period from 2023 to 2033. The global market is anticipated to be valued at US$ 1,617.8 million in 2023 and reach a market valuation of US$ 5,541.8 million by the end of 2033. According to the historical analysis, construction chemicals registered a CAGR of 7% from 2018 to 2022. As per the latest report, Future Market Insights offers insights into key factors driving demand for construction chemicals in India. Further India’s construction chemicals industry is estimated to account for around 6.3% of the global market share.

Construction chemicals are vital for the construction industry. These chemicals play a crucial role in the growth of the economy of a country. The construction industry is likely to witness substantial growth in India over the assessment period. The growth is attributed to the significant investment in the infrastructure sector and growth in building construction and real estate business. Furthermore, rising governmental initiatives like Smart City, “Make in India”, and Housing for all, amongst others, are creating significant opportunities for the construction industry which in turn is expected to boost the sales of construction chemicals in India.

A decrease of 140 bps and 30 bps was anticipated in half-yearly growth in the year 2022. This is due to a certain decline in construction sector growth and an increase in pricing for materials. With the recovery in the economic growth outlook and construction sector performance, the market is estimated to surge with substantial growth rates over the forecast period. Growth in a number of infrastructural projects, and a rise in spending towards the construction industry across all states had trusted the demand for construction chemicals in the country.

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Key Takeaways

Increasing spending within the construction industry by the government of India is anticipated to create substantial growth opportunities in the country. These opportunities are majorly created by growing infrastructure and commercial construction activities as well as a rise in apartment construction in tier-1 cities.
Urbanization in the country is also bolstering the demand which is attributed to rising in the construction of buildings and commercial places and the development of the infrastructure.
Key manufacturers in the industry are leveraging these opportunities by innovating new products. These new products comprise properties like watertight concrete, high strength, reliable, hassle-free floor concepts, and which can easily be used in construction.
Admixture concretes are significantly used to cater to the demand created by infrastructural and commercial construction activities. Moreover, the construction chemicals market is likely to achieve a faster growth rate in the current estimation period due to the continuation of various governmental infrastructural projects and the start of new projects.

Competitive Landscape

The market of Indian construction chemicals is anticipated to be fragmented within tier-II and tier-III levels, with the presence of more than 450 manufacturers across the country. However, a fair share of the market has been accounted for by the top manufacturers.

One of the primary challenges for construction chemicals in India has been product pricing. Key manufacturers have comparatively low-profit margins, attributed to the contractors preferring low-cost chemicals to reduce overall construction costs. Although, distributors are gaining more margins in construction chemicals as compared to the manufacturers.

Some of the major contractors within the construction industry are still unaware of the benefits that construction chemicals hold. Therefore, they tend to use substitutes that come at low costs providing higher margins. Key manufacturers of construction chemicals are focusing on mergers and acquisitions and regional expansion to establish a stronger foothold across the nation.

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India Construction Chemicals Market: Top Key Players

Chembond Chemicals Limited
Master Builder Solutions
SIKA AG
The Dow Chemical Company
Pidilite Industries
Fosroc International
MAPEI Construction Products India Pvt. Ltd.
Flowcrete India Ltd
CICO Technologies Limited
MYK LATICRETE India
Ardex Endura

More Insights into the India Construction Chemicals Market

North India accumulates more than 31% of the market over the construction chemical market of India. The growth of the market is attributed to the rapid development in infrastructure coupled with increased government spending in the country are key factors driving the region’s construction chemical industry. Population growth and rise in disposable income across the region are further creating significant demand for construction chemicals for residential constructional activities across the region.

The western region of India is anticipated to create lucrative growth opportunities for durable and energy-efficient construction materials. The western region is expected to create around US$ 4.1 Billion of absolute dollar opportunity between 2023 and 2033. Manufacturers are engaged in research and development activities to innovate as per the end user’s specific requirements.

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Rising Demand: Turpentine Market Forecasts Exceeding US$ 2,598.64 Million by 2034

The turpentine market size is anticipated to reach a valuation of US$ 1,506.98 million in 2024. The industry is likely to surpass US$ 2,598.64 million by 2034. The escalating demand for natural and sustainable raw materials across diverse sectors. The demand for turpentine is projected to expand at a CAGR of 5.60% through 2034. Turpentine, derived from pine resin, aligns with the global shift toward eco-friendly solutions, especially in the fragrance, flavor, pharmaceutical, and paint industries. Additionally, the therapeutic properties of turpentine, such as its use in traditional medicine, contribute to its rising demand in the healthcare sector.

One significant factor is the dependency on pine forests for resin extraction. Limited forest resources and the time-intensive process of resin tapping impose constraints on the overall supply. The susceptibility to environmental changes, including pests and climate variations affecting pine tree health, adds another layer of complexity.

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The expanding applications of turpentine in the pharmaceutical and cosmetic sectors, driven by its antimicrobial and aromatic properties, open avenues for diversification and market expansion. A notable trend is the integration of advanced technologies in extraction processes, enhancing efficiency and reducing environmental impact.

The rise of bio-based solvents as an eco-friendly alternative in various industries signifies a broader market shift. Furthermore, there is a discernible surge in collaborative initiatives among industry players, focusing on research and development to explore novel applications and innovative solutions.

“The growing inclination toward green and sustainable practices presents a ripe landscape for turpentine derivatives. Companies embracing eco-friendly sourcing and production methods can position themselves as leaders in the emerging market of sustainable chemicals.” – Says Lead Analyst at FMI

Key Takeaways from the Turpentine Market

The turpentine industry in the United States is poised to ascend with a CAGR of 4.5% through 2034.
Germany’s turpentine industry is set to ascend with a projected CAGR of 3.3% through 2034.
China’s dynamic turpentine industry anticipates steady expansion with a CAGR of 7.4% through 2034.
India’s turpentine industry is poised for remarkable growth, projecting a CAGR of 8.7% through 2034.
Australia’s turpentine industry is slated for expansion with an estimated CAGR of 6.6% through 2034.
The gum turpentine segment is likely to hold a 44.80% market share in 2024.
The fragrance application segment is poised to hold a 30% share in 2024.

Competitive Landscape of the Turpentine Market

The turpentine market is characterized by intense competition among key players. These industry giants focus on expanding their product portfolios, investing in research and development, and forming strategic alliances. Smaller players often specialize in niche segments, catering to specific applications like adhesives, solvents, and fragrances.

In a bid to gain a competitive edge, companies are emphasizing product innovation. They explore novel extraction methods, optimize production processes, and enhance the quality of turpentine derivatives. Sustainable practices are also in the spotlight, with a focus on eco-friendly sourcing, efficient utilization of raw materials, and reduced environmental impact. Companies that align with circular economy principles and prioritize sustainability are likely to thrive. Moreover, certifications such as FSC (Forest Stewardship Council) and ISO 14001 enhance credibility and attract environmentally conscious consumers.

North America, Europe, and Asia Pacific are key consumption hubs. North America, driven by the robust construction industry and demand for bio-based products, holds a significant share. Europe, with its stringent environmental regulations, encourages sustainable practices. Meanwhile, Asia Pacific witnessed rapid growth due to rising industrialization, urbanization, and increased adoption of turpentine in paints, coatings, and personal care products.

Recent Developments in the Turpentine Market

Naval Overseas and the Vietnamese maritime company Vinhconship Group have recently agreed to transport PT. Naval Overseas’s products to multiple locations in Asia and Europe.
Wuzhou Pine Chemicals Ltd. intended to augment its yearly turpentine production by 20,000 tons by establishing a new manufacturing facility in Guangxi Province.

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Key Companies in the Market

PT. Naval Overseas
Wuzhou Pine Chemicals Ltd.
Punjab Rosin and Chemicals Works
Wuzhou Sun Shine Forestry & Chemicals Co.
Forestar Chemical Co., Ltd.
Deqing Yinlong Industrial Co., Ltd.
Deqing Jiyuan Synthetic Resin Co., Ltd.
Resin Chemicals Co., Ltd
CV. Indonesia Pinus
Guilin Songquan Forest Chemical Co., Ltd.
EURO-YSER.
Vinhconship Group

Key Segments

By Product Type:

Fat Turpentine
Sulphate Turpentine
Wood Turpentine
Gum Turpentine

By Application:

Cosmetics
Fragrance
Food
Paints & Coatings
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The 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 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

Consumer Metaverse Market Poised for US$ 500 Billion Valuation and 24.5% CAGR by 2032

The consumer metaverse market was estimated at US$ 55.8 Billion in 2021 and is anticipated to grow at a CAGR of 24.5% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 500 Billion. The key revenue drivers that affect the demand for the Consumer Metaverse include increasing usage of cutting-edge technology like artificial intelligence (AI), mixed reality (MR), and blockchain.

Numerous businesses, including Facebook, Roblox, Fortnite, NVidia, Microsoft, Epic, USM, Google, RTFKT Akira, and Oculus, have already incorporated or have plans to use metaverse extended reality programs (XR) and other cutting-edge technology. The analysis found that LG Group filed 688 patent applications on 455 patent families, Sony filed 87 XR applications on 78 patent families, and Qualcomm Incorporated filed 80 patents across 28 patent families for the metaverse.

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Key Takeaways from the Consumer Metaverse Market Report:

Consumer Metaverse Market was valued at US$ 55.8 Billion in 2021. According to Future Market Insights, Consumer Metaverse Market revenue would increase 8.9X between 2022 and 2032, reaching roughly US$ 500 Billion in 2032.

In terms of Component, Hardware is projected to account for the highest projected CAGR of over 24.1% during 2022 – 2032.

In terms of application, the Gaming industry accounted for the highest CAGR of 34.2% during 2017-21.

U.S. is the dominant country in the Consumer Metaverse Market with an absolute dollar growth opportunity of over US$ 153.5 Billion

The Covid-19 epidemic has played a significant role in popularizing the concept of the metaverse. As more people started working from home and enrolling in online courses, the demand for more effective strategies or channels to make online communication more practical developed. Due to the epidemic, its significance increased among consumers and businesses alike.

In 2020, technology companies began developing these technologies and making their investments known. Due to the billions of dollars invested by Metaverse in that year, 2021 was a significant year for investment in Metaverse technology. The metaverse technology was made possible by the COVID-19 epidemic, and the post-epidemic environment will attract customers.

Competitive Analysis:
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies are focused on their alliances, technology collaborations, and product launch strategies.

Some of the recent developments in the Bioalcohol market are:

In January 2022, The Sandbox revealed a collaboration with Warner Music Group to introduce the first realm in the metaverse of The Sandbox with a musical theme. With this partnership, Warner Music Group (WMG) would formally enter the metaverse and NFT markets.

In January 2022, Microsoft disclosed that it had acquired Activision Blizzard, Inc. In addition to laying the groundwork for the metaverse industry, Microsoft believes that this acquisition will accelerate the expansion of its gaming division across mobile, PC, cloud, and console platforms.
In November 2021, A partnership between Tencent and the Asian Institute of Digital Finance was announced (AIDF). To better serve the rapidly expanding Asian digital financial sector, Tencent Financial Technology (FiT) and AIDF will collaborate in education, entrepreneurship, and research.
In November 2021, TaleCraft Majuro announced the opening of their NFT gaming metaverse with a medieval theme. TaleCraft assumes that players on its platform will be able to explore a medieval gaming world and engage in a variety of in-game activities using constructed NFTs.
In October 2021, According to estimates, Facebook Reality Labs will invest at least USD 10 Bn in the creation of hardware, software, and content for augmented reality (AR) and virtual reality (VR). The section of Meta Platforms, Inc., formerly known as Facebook, Inc., is Facebook Reality Labs.
In March 2021, NetEase, Inc. announced that its NetEase Cloud Music expanded its strategic alliance with Merlin Network in China. The partnership between them was initiated in 2018.

Leading Key Players:

Roblox Corporation
HTC
Samsung
HUAWEI
Xiaomi
Nvidia Corporation
Epic Games, Inc.
Tencent Holdings Ltd
Epic Games, Inc
The Sandbox

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Consumer Metaverse Market Segmentation:

By Component:

Hardware
Software
Services

By Application:

Game
Media & Entertainment
Education
Other Applications

By Region:

North America
Latin America
Europe
APAC
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

Eco-Friendly in Demand: Natural Mica Leads Mica Market Growth with 4.8% CAGR by 2033

The global mica market is poised for substantial growth, with projections indicating a surge from US$ 546.3 million in 2023 to US$ 874.8 million by 2033. This expansion is expected to be driven by a global increase in demand for mica, with a projected compound annual growth rate (CAGR) of 4.8% between 2023 and 2033. As mica finds applications across various industries, this anticipated rise in demand underscores its significance in the global market, paving the way for a dynamic and evolving landscape over the next decade.

Natural mica demand is increasing as a result of its easy available in the market. It is renowned for its purity and diverse applications in several industries globally.

Natural mica is the most demanding form of mica in the market. Natural mica’s increasing demand stems from its versatility and eco-friendly nature. Widely sought after for its unique properties, it caters to several industries, including cosmetics, electronics, and construction, fostering sustained growth.

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Ground mica, encompassing scraps, powder, and flakes, is abundant and finds versatile applications across industries. Its demand is attributed to its unique properties, including its ability to enhance texture, provide insulation in electronics, add shimmer in cosmetics, and fortify durability in paints.

Ground mica is expected to be in high demand across diverse sectors, such as paints & coatings, electronics, cosmetics, and construction. Its increasing use is set to make it indispensable for multiple industrial processes and end-use applications.

In the electronics sector, mica stands as a prominent product, ensuring crucial attributes such as insulation, thermal stability, and reliability. It is used in capacitors, insulators, and semiconductor devices.

Mica supports the seamless functioning of diverse electronic components and devices. Its inherent properties play a pivotal role in maintaining the integrity and efficiency of electronic systems, contributing significantly to the advancement of modern technology.

The cosmetics industry is anticipated to register a greater growth rate compared to other end-use industries. The properties of mica, such as light-reflecting qualities, are expected to drive its demand.

Mica also enhances the visual appeal of makeup. Its versatility enables formulations that balance aesthetics with skin-friendly attributes.

As a key ingredient, mica contributes to the creation of makeup products that not only elevate beauty standards but also prioritize the well-being of the skin. It is projected to help in reflecting the evolving demands of the cosmetics market.

Manufacturers are investing in supply chain transparency, aligning with responsible sourcing practices to meet evolving consumer expectations. Technology adoption in processing and extraction methods remains a priority, emphasizing efficiency, quality, and environmental considerations.

The industry players are aware of the need for ethical business practices. They are proactively working toward fostering a socially responsible and environmentally sustainable mica market.

Key Takeaways from the Report-

The global market for mica is projected to thrive at a 8% CAGR through 2033.
By form type, the natural mica segment is expected to total a valuation of US$ 744.1 million by 2033.
By grade, the ground mica segment is expected to total a valuation of US$ 422.7 million by 2033.
By end-use, the electronics segment is set to hold a market share of 0% in 2023.
East Asia is expected to account for a significant share of about 3% in 2033.
China’s industry value is anticipated to reach US$ 158.9 million by 2033.
The United States is projected to attain a valuation of US$ 96.4 million by 2033.
Demand in India is predicted to rise at a 9% CAGR through 2033.

“The mica market is poised to witness healthy growth due to the escalating demand for natural mica, expanding industrial sectors, and growing end-use industries. Robust growth in demand from a wide spectrum of applications is the key factor propelling the sales and revenue of the global market. Strategic acquisitions and investments in research & development are also expected to push the market,” remarks an Analyst at Future Market Insights (FMI).

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Competitive Landscape

Key players are focusing on the expansion of domestic production and technology areas of mica to provide cost-efficient solutions to consumers. They are also investing in developing new products. At the same time, they are innovating the existing products to meet end-user demand.

Recent Developments-

In January 2023, Global New Material International acquired CQV to augment penetration in the global market. The company produces synthetic mica powder.
In January 2023, in India, Jharkhand’s Chief Minister Hemant Soren took a step to revive the mica mining industry by flagging off vehicles to resume the mica scrap dumping yard at Koderma district.

Mica Market: Top Players

Merck KGaA
Imerys S. A.
BASF SE
Von Roll Group
Asheville Mica Company
Elmelin Ltd
Daruka Minerals
The Premier Mica Company
Shanghai Green Tech Co., Ltd.
Micafab India Private Limited
Spruce Pine Mica Co.
Mica Manufacturing Co. Pvt. Ltd
Ruby Mica Co. Ltd.

About Future Market Insights (FMI)

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Nandini Singh Sawlani

The Exciting Globe of Online Gambling Establishment Games

On-line casino site games have become profoundly prominent over the last few years, offering a convenient and entertaining means for players to appreciate their favored gambling enterprise games from the comfort of their very own homes. With a substantial choice of video games to select from, eye-catching bonus offers, and the potential to win huge, it’s not surprising that that on the internet gambling enterprises have actually gotten such a faithful following. In this post, we will certainly check out the various types of online gambling establishment video games offered, the attributes that make them appealing, and the benefits of playing online.

Types of Online Casino Games

On-line casinos use a wide array of games, accommodating different choices and skill degrees. Right here are some of the most popular types of online gambling establishment video games:

Port Machines: One-armed bandit are a staple in both Wettvorhersagen land-based and on-line gambling establishments. These video games offer a variety of styles, paylines, and incentive attributes, Wetten dass live stream internet providing unlimited home entertainment for gamers.
Table Gamings: Table games such as blackjack, live roulette, and baccarat are prominent choices among on the internet casino site players. These video games require strategy and ability, supplying an immersive and engaging pc gaming experience.
Video Texas hold’em: Video clip casino poker integrates the enjoyment of traditional online poker with the benefit of an on the internet gambling establishment. Gamers can delight in different casino poker versions and aim for winning hands to secure big payments.
Live Gambling Establishment Gamings: Live casino games provide the closest experience to playing in a land-based casino site. Gamers can connect with real dealerships in real-time and take pleasure in video games like blackjack, roulette, and online poker.
Modern Jackpots: Modern reward video games supply the possibility to win life-changing sums of money. These video games include a pot that enhances with each wager positioned, offering awesome chances for good fortunes.

Why Online Gambling Establishment Games are Appealing

There are numerous reasons online casino site games have actually become so appealing to gamers:

Ease: Online casino site games are accessible 24/7, allowing gamers to enjoy their favored games whenever and anywhere they want. Whether it’s during a lunch break or in the comfort of their own homes, gamers have the flexibility to play at their own pace.

Wide Option of Gamings: Online casinos supply a considerable series of video games, even more than what can be discovered in a land-based casino site. From timeless ports to innovative variations of table video games, there is something to match every player’s taste and preference.

Appealing Perks and Promotions: Online gambling establishments typically lure gamers with generous benefits and promotions. New gamers can take advantage of welcome bonus offers, while existing gamers can take advantage of reload perks, cashback offers, and commitment programs. These motivations can considerably improve the general video gaming experience.

The Benefits of Playing Online

Playing on-line casino games provides numerous benefits over going to a physical gambling enterprise:

Accessibility: Online online casinos can be accessed from anywhere with a web link, getting rid of the requirement for traveling and conserving time and money.
Personal privacy: Playing online provides a degree of privacy that may not be present in a land-based online casino. Gamers can appreciate their preferred games without feeling awkward or observed by others.
Video Game Variations: Online casinos usually offer a larger variety of video game variants contrasted to brick-and-mortar online casinos. This permits players to check out various versions of their preferred video games and find new faves.
Lower Minimum Wagers: Online gambling establishments normally have lower minimal bets compared to their land-based counterparts. This is particularly advantageous for casual gamers or those looking to stretch their bankroll.
Hassle-free Banking Options: Online casinos provide a series of protected and convenient banking options, making it very easy for gamers to deposit and withdraw funds. From charge card to e-wallets, gamers can pick the approach that matches them finest.
Responsible Pc Gaming Tools: Online casino sites typically provide numerous accountable video gaming devices to assist players manage their betting activities. Attributes such as down payment limitations, self-exclusion, and fact checks urge liable play and protect against excessive gaming.

In Conclusion

On-line casino site video games supply a thrilling and practical way for players to delight in the exhilaration of the casino from the convenience of their own homes. With a wide array of video games, attractive bonuses, and numerous advantages, on the internet gambling enterprises have actually reinvented the gaming market. Whether you’re an experienced player or new to the world of on-line gaming, there is an online gambling enterprise video game to fit everybody’s taste and provide hours of enjoyment.

Bear in mind to always gamble sensibly and set limitations for yourself. Delight in the exhilaration and enjoyable of on-line gambling enterprise video games, but never allow it take control of your life.