Market Research Blog – Page 3299 – New Product Development

Pearlescent Pigment Industry Anticipates Steady Growth, Projected to Reach US$ 5,544.7 Million by 2033

The pearlescent pigment industry is forecast to experience a growth of 4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 3,745.8 million in 2023.

Manufacturers of automotive and industrial coatings are opting for pearlescent pigment for their aesthetic brilliance and exclusivity, thus enhancing the look of their products. Additionally, efficacious, special-effect pearl pigments enhance the sustainability quotient of the final product due to their inherent sustainability.

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Sustainable pearlescent pigments have low VOC volume and better performance attributes like durability, better barrier resistance, and thermal stability. Since customers are becoming discerning of the potential environmental damage, they are increasingly considering options that allow them to reduce their overall carbon footprint. Based on these factors, the market is expected to expand over the forecast period.

This pigment has also stepped foot in the personal care and cosmetics industry, and since its arrival, it has revolutionized how consumers perceive beauty and appearance. This is credited to its cost-effectiveness, which makes achieving a ‘celebrity’ look possible on a budget. Many powders, creams, and lotions for personal care consist of natural pearl essence as an eco-friendly, dermatologically tested substitute to its toxic and synthetic counterparts.

Key consumers for this pigment are India, China, and Brazil due to their adoption quotient and surging per capita income. Moreover, the popularization of mass-customized goods and surging governmental assistance is expected to push construction activities and automotive production, thus broadening the application scope of these pigments.

Top Highlights from the FMI’s Analysis of the Pearlescent Pigment Market:

As per FMI estimates, the United States’ stake in the global market is 27.3%, making it an ideal candidate for future business prospects.
Germany is expected to enjoy a market share of 6.8% in 2023, suggesting considerable opportunities for growth.
Australia is expected to attain 5.9%, representing one of the core markets for pearlescent pigment. Manufacturers are projected to explore burgeoning prospects in the country.
Japan’s share is estimated to be 5.6%, demonstrating a substantial market for business ventures of pearlescent pigment.
India is expected to expand at a CAGR of 4.8% over the forecast period, suggesting more investments are underway by manufacturers.
China and the United Kingdom are anticipated to expand at CAGRs of 4.4% and 3.9%, respectively, over the forecast period.
Based on purity type, natural pearl pigment is expected to take up the majority of the market share by gaining 67.4% in 2023.
Based on end use industry, the automotive paints industry is expected to contribute 39.3% market share in 2023.

Market Developments Shaping the Pearlescent Pigment Industry

Sun Chemical introduced Xennia Pearl pigment inks in October 2021. The latter is used in fast-paced industrial applications. This consists of inks for both mid and high-viscosity printheads. The firm stated the creation of this product for its multi-substrate compatibility, robustness, consistent color, and excellent print performance.
DIC Corporation and Sun Chemical, its subsidiary firm, obtained Seller Ink in September 2020. The latter company is a Brazil-based producer of specialty inks and coatings. This acquisition is expected to help Sun Chemical expand its specialty inks and coatings business in Latin America.
BASF SE released eXpand! Blue EH 6001 in March 2019. The product is marketed under its brand name Colours & Effects. This product came to fruition due to a partnership between Landa Labs and BASF.
Fujian Kuncai Fine Chemicals Co. Ltd. introduced the “Dove Grey” pigment in May 2019. This pigment is a semi-transparent neutral grey hue, used mainly for industrial applications.

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Key Companies Profiled

BASF SE
Sudarshan Chemical Industries Ltd
Merck KGaA
DIC Corporation
ALTANA AG
Fujian Kuncai Material Technology Co., Ltd
CRISTAL
Shanghai Zhuerna High-Tech Powder Material Co., Ltd
Oxen Special Chemicals Co., Ltd
Huaian Concord Industrial Product Co., Ltd.
Spectra Colours Ltd
LANSCO COLORS

Pearlescent Pigment Market Segmentation

By Purity Type:

Natural Pearl Pigment
Synthetic Pearl Pigment
Glass Flake Pearl Pigment

By Structure Type:

Substrate-free
Monolayer
Multilayer

By End-use Industry:

Automotive Paints
Paints & Coatings
Personal Care
Plastic Industry
Printing
Others

By Region:

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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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Consumers are increasingly seeking digestive health drinks with ingredients like probiotics and prebiotics to promote gut health and overall wellness

The digestive health drinks market is the market for digestive health drinks is projected to grow at a compound annual growth rate (CAGR) of 6.09% during the forecast period, culminating in a valuation of US$ 47 billion by 2032.

Over the course of the forecast period, the market for digestive health drinks is anticipated to rise at a CAGR of 6.09%, reaching a valuation of US$ 47 billion by 2032.

Consumers are looking for drinks that have several benefits. Drinks with active ingredients that promote digestive health break down food particles more quickly and prevent constipation. Since the correct nutrients are absorbed in the blood, customers can maintain their chosen level of fitness by combining activity with nutrient-dense drinks.

The creation of novel packaging to stop food particles from interacting and harming the environment is being funded by major players. Customers are more inclined to support companies that uphold transparency by disclosing the sources of the materials that go into making various drinks.

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Consumers have grown label conscious and are well equipped with knowledge of nutrients present in a beverage before finally purchasing it. Manufacturers are developing drinks that have functional ingredients that improve the nutritional profile of beverages. Consumer willingness to splurge on health drinks with lip smacking flavor and texture is expected to bring in many opportunities for digestive health drinks producers in North America and Europe.

“Rising awareness regarding the benefits for maintaining good gut health, along with wide availability of digestive health drinks across online channels in emerging economies will fuel the growth in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

The global digestive health drinks market is poised to reach an impressive $47 billion by 2032, exhibiting a robust CAGR of 6.09% over the forecast period.
Consumer preferences for beverages aiding digestion and promoting fitness drive the market, with a focus on nutrient-rich ingredients.
Transparent labeling and awareness of nutritional content lead consumers to opt for drinks with functional ingredients, reshaping the market landscape.
Rising label consciousness prompts manufacturers to develop drinks with functional ingredients, enhancing the nutritional profile and flavor of beverages.
Probiotics claim the highest market share by ingredient, with an anticipated CAGR of 6.5%, reflecting consumer interest in gut health.
Online sales channels are forecasted to capture 60% of the total market share by 2032, emphasizing the growing significance of e-commerce platforms.

Key Points:

The global digestive health drinks market is on a growth trajectory, set to reach $47 billion by 2032, driven by consumer demand for functional and fitness-oriented beverages.
The market witnesses a surge in the adoption of drinks with nutrient-rich ingredients, promoting digestive health and overall wellness.
Probiotics lead the market share among ingredients, experiencing steady growth with a projected CAGR of 6.5%.
Consumer awareness of nutritional content and preferences for transparent labeling reshape purchasing decisions, emphasizing health-conscious choices.
The online sales channel emerges as a dominant force, capturing 60% of the market share by 2032, indicating the increasing trend of digital purchasing

Competitive Landscape

Key manufacturers of digestive health drinks are emphasizing on research & development to offer differentiated products with no chemical components. They are also working collectively to develop new product portfolios to enter untapped markets. For instance:

Ferm Fatale has launched zero-sugar probiotic mocktail, with the debut of a line of shelf-stable, raw, vegan, organic, probiotic non-alcoholic refreshments. Ferm Fatale’s mocktails, has only 22 calories and zero sugar per bottle, are a better alternative than traditional sugary and alcoholic beverages, allowing consumers to enjoy a healthier option while interacting with others.

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

Digestive Health Drinks Market By Category

By Ingredient Type:

Probiotic
Prebiotic
Food Enzymes

By Sales Channel:

Offline Sales Channel
Supermarkets/Hypermarkets
Departmental Stores
Convenience Store
Other Sales Channel
Online Sales Channel
Company Website
E-commerce Platform

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania

Frequently Asked Questions

How much is the global digestive health drinks market worth?
What is the demand outlook for the digestive health drinks market?
At what rate did the demand for digestive health drinks grew between 2017 to 2021?
At what rate will the digestive health drinks demand grow in Europe?
What is the North America Digestive Health Drinks Market Outlook?

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

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Expanded Polypropylene (EPP) Foam Industry Set to Reach US$ 5.52 Billion by 2033

The expanded polypropylene (EPP) foam industry is anticipated to thrive at a steady CAGR of 11.4% between 2023 and 2033. The market is expected to have a share of US$ 5.52 billion by 2033, while it is likely to be valued at US$ 1.87 billion in 2023.

The advent of smart packaging with insulation, more online shopping activities, and other industrial applications are flourishing market growth. Furthermore, the diverse range of product applications is also increasing the sales of EPP foam.

The expanding automotive sector, with enhanced cushioning in the seats and other vehicle parts, is also consuming a big chunk of the market. Alongside this, the restoration of the building and construction industry with the absorption of new advancements is likely to transform the market.

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Different grades and pricing increased industrial investment, and easy availability is expected to penetrate the end-user preferences while also dominating as a material in a wide range of sectors.

New factory operations involve the usage of this foam’s properties like water resistance, thermal insulation, recyclability, and durability. The increased production of automotive components that are assembled later is also gaining traction.

The higher economic activities in emerging Asian nations like India and China also contribute to alternative, durable, and sustainable materials. Hence, higher consumption of the expanded polypropylene (EPP) foam is expected during the forecast period.

Key Points

The United States market leads the North American expanded polypropylene (EPP) foam market in terms of market share in North America. The United States held a market share of 16.7% in 2022. The factors attributed to the growth are industrial expansion and higher penetration of e-commerce platforms. The government promoting alternative materials and their applications are also helping the regional market.
The German expanded polypropylene (EPP) foam market held a healthy market share of 13.1% in 2022. The advanced automotive sector and extended research and development facilities cause market growth.
The Indian market thrives at a steady CAGR of 13.1% between 2023 and 2033. The growth is attributed to booming automotive production and rising demand for new grades.
China thrives at a CAGR of 12.3% between 2023 and 2033.
Based on grade type, the high-density segment held the leading market share of 50.0% in 2022.
Based on application type, the automotive industry segment leads as it held a market share of 40.0% in 2022.

Competitive Landscape

The key suppliers focus on effective quality, different grades, and easy availability. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Kaneka Corporation introduced molded foam components with different grades of EPP foam for multiple uses, such as automotive, packaging, industrial insulation, and others. The product has properties like shape molding, multiimpact, energy and water absorption, flexibility, and resilience. Other than this, the foam’s structural strength, durability, and lightweight dynamics also promote it as the ideal material for automotive operations.
Sonoco Products Company, a foam packaging firm launched the expanded polypropylene (EPP) and expanded polyethylene (EPE) foams.

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Key Players

Furukawa Electric Co., Ltd
Knauf Industries
Dongshin Industry Inc.
Kaneka Corporation
JSP Corporation
BASF SE
SSW Pearl Foam GmbH
Sonoco Products Company
Clark Foam
Bradford Company
Others

Key Segmentations

By Grade Type :

Low Density
High Density
Porous PP

By Application :

Automotive
Industrial Packaging
Consumer Products
Building & construction
Others

By Regions :

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

About Future Market Insights (FMI)

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Exploring the Growth: Desert Island Tourism Market Eyes US$161 Billion by 2032 | FMI

By 2022, the tourism industry on desert islands is expected to be valued at US$ 120 billion. The market is expected to grow at a 3% compound annual growth rate (CAGR) and reach US$ 161.27 billion in sales by 2032.

Islands have long been regarded as dreamy tourist locations. They provide genuine cultural and natural experiences in distinctive settings that are apart from the urbanized and ordinary areas that serve as the island’s primary source of tourists.

Islands frequently serve as the antithesis of metropolitan life, providing the sense of separation and change from the norm required to give the fundamental elements of a vacation. Islands have long maintained a special place in travelers’ hearts since they signify both crossing water and exploring a confined location that is full of mystery and intrigue.

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They are frequently used to symbolize paradise as well. Major tourist attractions include islands in the Mediterranean, Caribbean, and South Pacific, while expanding air and sea connections has made islands in the Atlantic and Indian Ocean more accessible.

Despite this, it is widely accepted in the tourist literature that island tourism, whatever it is defined and researched, faces a number of difficulties and issues and is the cause of social, environmental, and economic distortion. The development of facilities for tourism takes toll on resources available on islands, might be reason for pollution and can disturb the ecology.

Deserted islands can be exception to these aforementioned problems, as there are no inhabitants, and there are no means of development. If these islands have to be developed for tourism, the resources have to be brought to them, which is costly and inconvenient. Most of such desert island tours are just raw experience of nature, with no facilities whatsoever. People are also drawn to these islands, as there is no contact with outer world, and the get to connect with nature and experience the tranquility and solitude offered from them.

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Key Takeaways from the Desert Island Tourism Market Study:

The Adventure Tourism sector in Jordan will be growing with 3% CAGR.
The Covid-19 pandemic had 1.1% impact on the value of the Desert Island Tourism sector.
Tourists visiting the deserted islands are expecting adventure activities and experience natural beauty.

Key Players

Docastaway
Phu Quoc Tours
Freedom Adventures
Kantiang Tours
Williams Tours
Emmanuel Tours
Island Safari
Others

The Desert Island Tourism Sector By Category

By Tourism Type:

Adventure
Luxury
Wellness
Cultural
Others

By Adventure Activity:

Camping
Safari
Diving
Fishing
Survival Simulation

By Booking Channel:

Phone Booking
Online Booking
Direct Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveller
Package Traveller
Tour Group

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
56-65 Years
66-75 Years

About Future Market Insights (FMI)

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

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Laser Cutting Machine Market Soars to US$ 5,974.1 Million by 2032

According to Future Market Insights analysis, the Global Laser Cutting Machine Market is expected to reach US$ 3,386.4 Mn in 2022, growing at a CAGR of 5.8% from 2022 to 2032.

Laser cutting has emerged as a versatile, cost-effective method that delivers extremely high precision as compared to conventional cutting methods for many applications. Laser cutting machines have applications in many industries, such as automotive, aerospace, ceramics, metal cutting, defense, semiconductors, glass, ceramics, paper, etc. This product helps to cut material without creating heat or any mechanical stress. The accuracy, productivity, and efficiency of laser cutting machines are more preferable as compared to other cutting machines. Because they are so well suited to mass production processes, highly complex and specialized components are typically preferred for many industries. As it can cut items more quickly than a waterjet cutting machine, laser cutting is a more cost-effective choice. These are the driving forces behind the market’s expansion, making it more stable in the years to come.

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Key Takeaways of Laser Cutting Machine Market Study

The value of mechanized Laser Cutting Machine is projected to increase at a value CAGR of 5.7% to reach around US$ 3,798.5 Mn by the end of 2032.
In terms of End Use, Automotive and Transportation are anticipated to create an absolute dollar opportunity worth US$ 805.6 Mn.
In the Global Laser Cutting Machine market, fiber based technology in Laser Cutting Machine is projected account for more than 60% share by the end of forecast period owing to its demand which is increasing in day to day applications
By Region, East Asia is anticipated to account for more than 25% of market share in terms of volume by the end of 2032 and is expected to remain dominant throughout the forecast period.

Competitive Landscape

The market is fragmented among the market participants, accounting for market share ranging from 30% to 40% of market revenue in 2021. Prominent players in the market are aim to concentrate on diversifying their product lines with technologically advanced products in order to gain a prominent share in the market and offer significant efficiency and better output to their customers.

The TRUMPF, Bystronic DNE, Hans Laser, HSG Laser, Amada Co. Ltd., Coherent, Inc. are a few of the market’s major participants.

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Australia and South Pacific Market Forecasting US$ 295.07 Billion by 2032 | FMI

The Australia and South Pacific tourism market is poised to reach a valuation of US$ 150 Billion in 2022. Sales are projected to grow at a 7 % CAGR, with the market size reaching US$ 295.07 Billion by 2032.

The improvement if tourism is based on the facilities provided by the government. The government have established an organization named SPTO, which deals with the development of tourism in South Pacific countries. The organization plans meetings and conferences with businesses all around the world to promote tourism. They also promote events and new developments all around the Pacific countries, which may attract tourists all around the world.

The Tours and travelling companies all around the world are offering combo packages and unique deals on tours. Tourists are getting attracted towards the South Pacific countries, as there are number of events from different Pacific countries. The local organisations are also working with government, and are arranging events, which were cancelled due to pandemic.

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For Instance, Australian government have announced a grand musical event called ‘Always live’, which will cover music concerts in Melbourne, Victoria and many other cities in Australia. They also have a website, where they are providing all the information of event, and are also helping for planning the tour. The website has the information of all the artists performing at the event and places that tourists can visit during their stay.

Some of the travelling agencies are also giving customised or theme based tour packages, like sports tours, cruise tours, safari tour etc.

For instance, Thomas Cook Agency have a tour dedicated for cricket fans, which takes them in famous stadiums in Australia and World Cup matches, which are to be held in October 2022.

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Key Takeaways:

Based on tourism type, eco/sustainable tourism are most popular among visitors in South Pacific countries.
By booking channel, the online booking segment is preferred by tourists, as it have freedom of choice and ease of access.
The expenditure by international tourists have high impact on the development of regional areas and affect the economy.

Key Players

Helloworld Travel
Sahara Travels
Gaura Travel
Adventure Tours Australia
Audley Travel
Australia Health Tourism
Australian Sports Tours
Cox and Kings
Adventure-Life
Kesari Tours
Mango Tours India
Trafalgar

Australia And South Pacific Tourism By Category

By Tourism Type:

Cultural & Heritage Tourism
Medical Tourism
Eco/Sustainable Tourism
Sports Tourism
Wellness Tourism

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Country (% of Demand):

Fiji
Papua New Guinea
Micronesia
New Zealand
Australia
Others

About Future Market Insights (FMI)

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

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GCC Mini Cranes Market Size Surpasses US$ 41.1 Million by 2032

The GCC (Gulf Cooperation Council) mini cranes market is a niche segment within the broader crane market, but one with significant growth potential. Here’s a breakdown of key drivers, opportunities, and future scope:

Market Drivers:

Growing Construction Activity: The GCC region is experiencing a boom in construction projects, fueled by government investments in infrastructure, real estate, and mega-events like Expo 2020. This surge in activity creates demand for efficient lifting solutions in confined spaces, where traditional cranes might not be suitable.
Rise in Renovation and Refurbishment Projects: Mini cranes are ideal for renovation and refurbishment projects in existing buildings due to their maneuverability and ability to operate with minimal setup space.

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Focus on Worker Safety: Mini cranes offer a safer alternative to manual lifting, reducing the risk of injuries on construction sites.
Technological Advancements: Manufacturers are constantly innovating with new features like remote control operation, enhanced lifting capacities, and hybrid or electric power options, making mini cranes even more versatile and user-friendly.

Key Opportunities for Manufacturers:

Specialization: There’s an opportunity to develop mini cranes tailored for specific applications within the GCC, such as those suited for harsh desert environments or with features that comply with regional safety regulations.
Rental Market: A strong rental market for mini cranes exists, catering to contractors who require them for short-term projects. Manufacturers can explore offering leasing or financing options to make mini cranes more accessible.
After-Sales Services: Providing excellent after-sales service, including readily available spare parts and trained technicians, can be a key differentiator in the competitive GCC market.

Future Scope:

E-commerce and Online Sales: The rise of e-commerce platforms presents an opportunity to reach a wider audience and facilitate easier purchasing of mini cranes.
Integration of Advanced Technologies: Future mini cranes might incorporate features like AI-powered load control, real-time diagnostics, and data-driven maintenance for improved efficiency and safety.
Growing Environmental Concerns: There’s a potential trend towards mini cranes with lower emissions and noise pollution, especially in urban environments.

Sulphur Bentonite Industry Set for Steady Growth with 4.7% CAGR Projection by 2033

In 2018, the sulphur bentonite industry had a value of US$ 191.5 million. In 2023, the market is anticipated to generate US$ 228.7 million.

The assessment period, 2023 to 2033, is projected to have a 4.7% CAGR in global demand. By the end of 2033, a market worth US$ 363.4 million is anticipated to exist.

Improved agricultural production is increasingly necessary to meet rising food demand as the world’s population grows. In order to replace vital nutrients in the soil and increase crop yields, fertilizers are required.

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One of the factors fueling market expansion around the globe is rising demand for fertilizers with sulfate as a primary ingredient. In 2023, the worldwide sulphur bentonite industry accounted for 4% to 5% of the market for sulfate-based fertilizers.

Crop quality and productivity can be affected by a lack of sulphur in the soil. Farmers are looking for solutions to enhance nitrogen levels in their crops and manage sulphur deficiency.

Demand for fertilizers based on sulphur bentonite has steadily increased as a result. At the conclusion of the assessment period, the market is expected to generate an absolute dollar potential of US$ 134.7 million.

Rising sulphur bentonite demand is also a result of greater knowledge of the advantages of balanced fertilization. Farmers are now more aware of how crucial it is to provide crops with a wide variety of nutrients in order to maximize their growth potential.

After nitrogen, phosphorus, and potassium, sulfur is frequently referred to as the fourth leading nutrient. It is essential for multiple metabolic activities in plants. As farmers want to attain the ideal nutritional balance in their fields, sulphur bentonite demand has increased.

Regulations and environmental concerns have increased demand for sulphur bentonite. Problems with handling, volatilization, and potential environmental effects can arise when using traditional sulphur fertilizers such as elemental sulphur.

With its controlled-release qualities, sulphur bentonite reduces the danger of sulphur loss and provides a more environmentally responsible choice. Due to its outstanding environmental performance, sulphur bentonite is more in demand as sustainability gains importance in contemporary agriculture.

Demand for sulphur bentonite is expected to rise as a result of expanding agriculture around the world and rising food production needs. The agricultural sector is under increasing pressure to increase productivity and satisfy the soaring food demand as population expansion continues.

A dependable and effective way to increase agricultural yields and guarantee food security is sulphur bentonite. As a result, sulphur bentonite demand is anticipated to increase further as the agricultural sector works to meet growing demand for food worldwide.

Key Takeaways from Sulphur Bentonite Market Study

The sulphur bentonite industry exhibited a CAGR of 3.6% in the historical period from 2018 to 2022.
The United States sulphur bentonite industry is projected to witness a CAGR of 3.6% during the forecast period.
China sulphur bentonite industry is estimated to hold around 85% of share in East Asia in 2023.
India sulphur bentonite industry is estimated to surpass a value of US$ 32.3 million at the end of the evaluation period.
By application, the oilseeds segment is expected to cross a valuation of US$ 138.9 million at the end of the forecast period.

“Precision farming methods are among the significant technological developments in the agriculture sector that are expected to offer a promising possibility for expansion. With the use of precision agricultural technologies, sulphur bentonite might be precisely applied by farmers to the parts of the field that need supplemental sulphur.” – Says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

Sulphur bentonite producers are spending money on technological developments to enhance their production methods. This entails implementing cutting-edge methods to improve production effectiveness, maximize resource usage, and guarantee constant product quality. To meet particular customer needs, they are also concentrating on creating bespoke and customized sulphur bentonite products.

Other sulphur bentonite producers are developing strategic alliances and partnerships to improve their market presence and capabilities. This entails partnerships with technology companies, agricultural universities, and research organizations to make use of their knowledge of product creation and innovation.

They are also looking for ways to lessen the impact of sulphur bentonite on the environment. By promoting appropriate usage and disposal of the product, they hope to reduce sulphur emissions during manufacture.

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For instance,

A well-known producer of sulphur bentonite products is Tiger-Sul Products LLC. It has decades of industry expertise and focuses on making premium sulphur bentonite fertilizers that adhere to the exacting standards of contemporary agriculture.

Key Companies Profiled

Tiger-sul (Tiger Industries Ltd)
Devco Australia
Coromandel International
Coogee Chemicals
Gujarat State Fertilizers & Chemicals Limited
Galaxy Sulfur
Montana Sulphur & Chemical Co
Deepak Fertilizers and Petrochemicals
National Fertilizer Limited
Sohar Sulphur Fertilizers LLC
H Sulphur Corp
Chung Kwang
NTCS Group

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Unveiling the Future: Tourism Industry Big Data Analytics Market Eyes a US$ 486.6 Billion Boom by 2033 | FMI

According to Future Market Insight, the global tourism industry big data analytics market is likely to reach US$ 486.6 billion by 2033, registering a CAGR of 8%. This is a substantial upsurge from its projected worth of US$ 225.4 billion in 2023.

The market has experienced significant growth and relevance. This development can be attributed to the tourist industry’s growing use of big data analytics. In the fiercely competitive tourism landscape, companies that can harness the power of big data have an advantage. They can identify trends, predict customer needs, and stay ahead of the competition. Big data analytics confers a competitive advantage by enabling businesses to make informed decisions promptly.

The rising demand for personalized and enhanced customer experiences is a key factor driving market growth. Travelers are becoming more discerning and seeking tailored services. Tourism businesses leverage big data analytics to understand customer preferences, behaviors, and expectations. By analyzing large volumes of customer data, businesses can customize their offerings. They can also provide personalized recommendations and deliver exceptional experiences. The demand for personalized services has fueled the adoption of big data analytics solutions in the tourism industry.

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Big data analytics plays a pivotal role in destination management. It empowers authorities to make data-driven decisions. These decisions are regarding infrastructure development, crowd management, and tourism planning. Data on visitor flows, preferences, and behavioral patterns are utilized. They are used to design sustainable tourism strategies. Additionally, data helps allocate resources effectively. It also aids in mitigating negative impacts on local communities and the environment.

The tourism industry faces dynamic market conditions, changing trends, evolving customer preferences, and fluctuating demand patterns. Big data analytics enables businesses to analyze vast amounts of data. The data come from various sources like social media, online reviews, booking platforms, and customer feedback. The analysis helps identify emerging trends and make data-driven decisions. Analyzing real-time data and gaining insights into market trends and customer demands has become crucial. It is essential for staying competitive in the tourism industry.

Big data analytics lets tourism companies gain insights into customer behavior and preferences. These insights help them target marketing and advertising efforts more effectively. Companies can identify relevant channels, messages, and offers by analyzing customer data. They can do this for different customer segments. This analysis improves the return on marketing investments. It also helps drive customer acquisition.

Integrating artificial intelligence and machine learning technologies with big data analytics has propelled market growth. AI and ML algorithms automate the analysis of large datasets. They also uncover hidden patterns and correlations. These technologies enhance the accuracy and efficiency of decision-making processes. The tourism industry recognizes these technologies’ value and potential to drive growth. Consequently, there has been an increased adoption of big data analytics solutions.

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Data storage, processing capabilities, and cloud computing infrastructure advancements support the tourism industry’s big data analytics market. Advancements in data storage and processing capabilities have made it easier for tourism businesses to handle large volumes of data. Cloud computing plays a crucial role in the accessibility of big data analytics. It allows businesses to access powerful analytical tools and platforms. As a result, big data analytics has become more accessible to a wider range of companies in the tourism industry.

As the market continues to grow, numerous companies specializing in the tourism industry big data analytics have emerged. These companies offer a range of solutions, including data management, data integration, predictive analytics, and visualization tools tailored to the specific needs of the tourism industry. They aim to assist businesses in extracting actionable insights from their data. They also help optimize operations and improve overall performance.

Key Takeaways from the Tourism Industry Big Data Analytics Market

The tourism industry big data analytics industry in the United Kingdom is anticipated to rise sizably, exhibiting a CAGR of 4.7% through 2033.
The United States held a 4% share of the global tourism big data analytics industry in 2022.
With a CAGR of 5.1% over the forecast period, India is predicted to develop rapidly in the tourism industry big data analytics industry.
In 2022, Japan had a 4.8% share of the tourism industry big data analytics industry globally.
The tourism industry big data analytics industry in China is expected to flourish speedily, registering a CAGR of 6% over the forecast period.
Germany accounted for 5% of the global tourism industry big data analytics industry in 2022.

Competitive Landscape in the Tourism Industry Big Data Analytics Market

Key players extensively utilize big data analytics to extract actionable insights from the massive volume of industry-generated data. These players employ advanced analytics tools and technologies to understand customer behavior, enhance marketing strategies, optimize operations, and improve overall customer experiences. By leveraging the power of data analytics, they aim to make data-driven decisions, identify trends and patterns, and drive innovation in the tourism sector.

Recent Developments by Key Players

In September 2022, Zartico secured $20 million in Series A funding. The funding aims to bring data analytics and Version 3.0 to the tourism industry. Zartico uses data intelligence, analytics, and visualizations. They help destination tourism organizations make data-driven decisions. Arthur Ventures led the funding round.

In December 2020, Google launched the ‘Travel Insights’ tool. Its purpose is to assist individuals in the travel and tourism sector. The tool helps them understand travel demand and make informed decisions. Google utilizes big data to determine the top sources of demand for travel destinations worldwide.

Key Players

Microsoft
Google
AWS
IBM
Dell
Splunk
Micro Focus
SAP
Accenture
Informatica
Teradata
Oracle
Cloudera
Palantir
HPE
Cisco
SAS
Alteryx
Continuum Analytics
DataStax
Doopex
Hitachi Data Systems
KPMG
New Relic
Orchestra Networks
Predixion Software
Riversand Technologies
Stibo Systems
Tableau
TIBCO Software

Global Tourism Industry Big Data Analytics Market by Category

By Product Types:

Descriptive Analytics
Predictive Analytics
Perspective Analytics

By End-Use Outlook:

Transport
Accommodation
Travel Agencies
Others

By Deployment Outlook:

Cloud Warehouse
On-premise

By Enterprises:

SME
Large Enterprises

By Purpose:

Revenue Management
Reputation Management
Strategic Management
Customer Experience
Market Research
Target Marketing
Market Intelligence

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Mobile Substation Market Anticipating 7.2% CAGR by 2032

The global mobile substations market is expected to reach a valuation of US$ 1879.6 Mn in 2032, with the market growing at a healthy CAGR of 7.2% from 2022 to 2032. Driven by extensive application in the utility sector, the target market will likely reach an estimated US$ 934.7 Mn by the end of 2022. Mobile substations are often used to fill electricity gaps in the grid which results in large-scale application of the same in the utility sector as these substations play a vital role in transmitting and distributing power. Hence, usage in utility sector is a primary growth-driver for the mobile substations market during the forecast period.

Escalating degree of power transmission issues along with an imbalance within the transmission network amplify the demand for mobile substations. This is because mobile substations assist in strengthening the dependability of the primary high-voltage transmission grid. The concept of a modular, plug-and-play mobile substation allows grid connections and stability under any conditions. This positively impacts the market for mobile substations.

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Furthermore, the increasing demand for renewable energy also propels the target market growth. The elevated need for smooth renewable energy integration into the electric grid, caused by an upsurge in the amount of clean energy projects is boosting the demand for mobile substations. Again, the capacity of power systems to recover as quickly as possible from major weather events and natural disasters is advantageous to local businesses and communities.

Besides, the growing demand for electricity necessitates the usage of a new efficient and effective transition management strategy which would make full use of mobile substations. The continuous evolution of the share of renewable energy in centralized and decentralized grids also contributes to the demand for mobile substations. These considerations will likely drive the growth of the mobile substations market during the forecast period.

Key Takeaways:

A lack of awareness regarding mobile substations may impede their market growth.
The mobile substation market in North America will lead the global growth with ownership of 26.3% of the overall market share.
Rapid industrial development will propel mobile substation market in the Asia Pacific region.
Start-ups in this market are supplying personalized solutions to meet end user demands.

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Competitive Landscape

General Electronic, Hitachi ABB Inc., Siemens AG, Qingdao MEIDENSHA CORPORATION, Enerset Power Solutions, and Aktif Group of Companies among others are some of the major players in the mobile substations market profiled in the full version of the report.

Leading market players are keen on finding solutions to energy issues and entering new economies to expand their operations. These businesses engage in agreements, partnerships, and collaborations to strengthen their market positions.