Market Research Blog – Page 3335 – New Product Development

Horizontal Milling Machine Market Anticipated to Reach US$ 55,764.6 Million by 2033

The global horizontal milling machine market is poised for significant growth, projected to surge from US$ 36,955.7 million in 2023 to US$ 55,764.6 million by 2033, with an impressive overall sales growth rate of 4.2% CAGR throughout the forecast period spanning from 2023 to 2033. A key driving force behind this growth trajectory is the increasing utilization of horizontal milling machines across diverse commercial and industrial applications worldwide.

Horizontal milling machines represent one of the most commonly used types of milling machines, characterized by a spindle parallel to the worktable. These machines are adept at processing various planes, inclined planes, and grooves using a wide array of tools such as cylindrical milling cutters, forming cutters, end mills, angle cutters, disc cutters, and more. Notably, horizontal milling machines offer distinct advantages over vertical milling machines, especially for complex projects.

In recent years, horizontal milling machines have witnessed a surge in demand owing to their versatility and applicability across a myriad of industries. They are increasingly employed to execute a multitude of functions including drilling, chamfering, turning, slot cutting, among others, underscoring their indispensability in modern manufacturing and machining operations.

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Opportunities

The market for horizontal milling machines is poised for significant growth in the coming years, driven by expanding applications across industrial and commercial sectors. This increased utilization is anticipated to create lucrative opportunities for market growth over the next decade.

Moreover, the growing demand for high-precision products across diverse industries is expected to serve as a key catalyst for market expansion. Horizontal milling machines play a crucial role in achieving precise machining outcomes, thus meeting the rising demand for accuracy in product manufacturing processes.

Furthermore, continuous technological advancements in horizontal milling machines are anticipated to further propel market growth during the forecast period. These advancements are aimed at enhancing machine efficiency, productivity, and precision, thereby catering to evolving industry requirements and boosting the adoption of horizontal milling machines across various sectors.

Competitive Landscape

Prominent manufacturers in the horizontal milling machines market include AVEMAX, AZ spa, AHP PLASTIK MAKINA, Boygo, CAMAM, CAZENEUVE, EMISSA, EMAG GmbH&Co.KG, EURACRYL GmbH, GEORG KESEL, Normaco tools OU, TORNOS, and SIBO ENGINEERING, among others.

These industry leaders are committed to expanding their customer base through strategic initiatives such as new product launches, mergers, acquisitions, partnerships, and collaborations. For instance:

In 2019, Expand Machinery made a significant move by acquiring the GENMILL, GENTURN, and GANESH product lines, consolidating its position in the market and enhancing its product portfolio.

In July 2022, Okuma America Corporation demonstrated its commitment to innovation by unveiling the MA-8000H, the latest addition to its horizontal machining center lineup. This introduction underscores Okuma’s dedication to providing cutting-edge solutions to meet evolving customer needs.

Similarly, in 2018, Zimmermann, a renowned manufacturer of high-tech portal milling machines, introduced the new FZH model range. This innovative range is specifically designed to facilitate efficient machining of standard components for the aerospace industry, showcasing Zimmermann’s continuous efforts to offer advanced solutions tailored to industry-specific requirements.

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Market by Category

By Product:

Compact Precision
Standard
Grinding
Free-Mounted
Other

By Application:

Commercial
Industrial
- Plastic Industry
- Wood Industry
- Metal Industry

By Number of Axis:

1 Axis
2axis
3 Axis
5 Axis
6axis
7axis
Other

By Distribution Channel:

Online
Offline

By Region:

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

Global Anticonvulsants Market is likely to cross a value of US$ 31.91 Billion by 2033| Future Market Insights

The global anticonvulsants market is projected to witness robust growth, maintaining a steady Compound Annual Growth Rate (CAGR) of 2.4% during the forecast period, according to the latest insights from Future Market Insights, Inc. As of 2023, the market recorded substantial revenue of US$ 25.17 Billion, with expectations to surpass US$ 31.91 Billion by 2033.

This sustained expansion is attributed to various factors, including advancements in treatment methodologies, increased prevalence of neurological disorders necessitating anticonvulsant therapies, and ongoing research and development initiatives driving innovation within the industry.

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“As the landscape of neurological treatments evolves, the anticonvulsants market stands poised for notable growth,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “Our commitment to innovation and addressing unmet medical needs remains steadfast, propelling us towards optimizing therapies and elevating patient care.”

The rising incidence of epilepsy, bipolar disorder, and other neurological conditions underscores the necessity for effective anticonvulsant medications. Moreover, increased awareness regarding mental health and neurological disorders has led to improved diagnosis and treatment options, further driving the market’s evolution.

In response to these trends, pharmaceutical companies and healthcare practitioners are intensifying efforts to refine existing medications and introduce novel formulations, with a growing emphasis on enhancing patient outcomes and quality of life. This trajectory is expected to broaden the scope of anticonvulsants, catering to a wider spectrum of patients and conditions.

The forecasted surge in the anticonvulsants market presents promising opportunities for pharmaceutical companies, researchers, and healthcare providers. Collaborative efforts in research and development, coupled with strategic investments in advanced therapies, are poised to further enhance the market landscape, ultimately benefiting patients worldwide.

Anticonvulsants Market: Drivers and Restraints:

The anticonvulsants market refers to the pharmaceutical market segment that focuses on the development, production, and sales of medications used to treat seizures and various neurological conditions such as epilepsy, neuropathic pain, and bipolar disorder. The market for anticonvulsant drugs is influenced by several drivers and restraints. Let’s explore them:

Drivers:

Increasing Prevalence of Neurological Disorders: Neurological disorders such as epilepsy, neuropathic pain, and bipolar disorder are becoming more prevalent globally. This rise in the number of patients with neurological conditions drives the demand for anticonvulsant medications.
Growing Awareness and Diagnosis: There is a growing awareness among individuals and healthcare professionals about the diagnosis and treatment of neurological disorders. Improved diagnostic capabilities and increased awareness have led to early identification of these conditions, resulting in higher demand for anticonvulsant drugs.

Restraints:

Side Effects and Safety Concerns: Anticonvulsant medications can have side effects such as dizziness, drowsiness, and cognitive impairment. Additionally, there are safety concerns related to the long-term use of these drugs. These factors can limit patient compliance and restrain the growth of the anticonvulsants market.
Generic Competition: Many anticonvulsant drugs have lost or are approaching patent expiration, leading to the entry of generic versions into the market. Generic competition often leads to a decrease in the prices of branded drugs, affecting the revenue potential of pharmaceutical companies.

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Anticonvulsants Market: Growth Determinants:

Increasing Prevalence of Epilepsy: Epilepsy is the most common neurological disorder that requires long-term treatment with anticonvulsant medications. The rising prevalence of epilepsy, particularly in developing countries, is a major growth determinant for the anticonvulsants market. Additionally, the expanding awareness about the availability and effectiveness of anticonvulsant drugs further fuels market growth.
Advancements in Drug Development: Significant advancements in drug research and development have led to the discovery of new and more effective anticonvulsant medications. The introduction of novel anticonvulsants with improved efficacy, better safety profiles, and fewer side effects has expanded the treatment options available to patients. This drives the growth of the anticonvulsants market as healthcare providers and patients increasingly adopt these newer medications.
Increasing Geriatric Population: The elderly population is more susceptible to neurological disorders, including epilepsy and other conditions that require anticonvulsant therapy. With the global aging population on the rise, the demand for anticonvulsant drugs is expected to increase. The growing geriatric population, particularly in developed regions, acts as a significant growth determinant for the anticonvulsants market.

Anticonvulsants Market: Key Players

Some of the key players, contributing to global anticonvulsants drug market, are Johnson & Johnson (J&J), Novartis AG, UCB Group, GlaxoSmithKline plc, Pfizer Inc., Abbott Laboratories, Cephalon Inc. and Shire plc. Pfizer has been estimated to cover the largest market share in the antiepileptic market, accounting for close to one-third of total revenues of the market with it two leading brands.

Anticonvulsants Market: Segmentation

Anticonvulsants market is segmented based on product type, application, end user and geography.

Based on product type, the anticonvulsants market is segmented as follows:

Barbiturates
Aldehydes
Benzodiazepines
Aromatic allylic alcohols
Carboxamides
Bromides
Carbamates
Sulfonamides
Fructose derivatives
Pyrrolidines
Triazines
Fatty acids
Oxazolidinediones
Ureas
GABA analogs
Propionates
Hydantoins
Pyrimidinediones
Valproylamides (amide derivatives of valproate)
Others

Based on application, the anticonvulsants market is segmented as follows:

Epilepsy
Fibromyalgia
Migraine
Neuropathic pain
Bipolar disorder
Anxiety
Borderline personality disorder

Based on end user, the anticonvulsants market is segmented as follows:

Hospitals
Clinics
Ambulatory surgical clinics

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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

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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Esters Market: Powering Industries with a 5.4% CAGR and Reaching New Heights by 2033

The global esters market is anticipated to reach a valuation of US$ 94.19 billion in 2023, driven by various end-use applications. This trend is expected to create new opportunities for the global market, leading to a projected CAGR of 5.4% between 2023 and 2033. It is estimated to gain a valuation of approximately US$ 159.36 billion by 2033.

The lubricant business has worked tirelessly to provide high-performance lubricants that benefit the aerospace, automotive, and industrial sectors. One such innovation was the use of synthetic esters in the production of very effective lubricants.

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Esters are being employed more often in creating lubricants as appropriate replacements for conventional base oils due to their biodegradability and low toxicity. At a certain viscosity, they are substantially less volatile than other lubricant base oils and tend to lubricate even at very high temperatures.

An increase in manufacturing activity has been brought on by rapid industrialization backed by growth in emerging nations’ economies. The use of new machinery like Industry 4.0 and other technological advancements like automation are expanding, which is driving up demand for high-performance lubricants. This, in turn, is bolstering the global demand for esters.

Key Takeaways from the Market Study

The esters market increased at a CAGR of 4.5% from 2018 to 2022.
The esters market in the United States is expected to account for 33.7% of all sales in 2023.
China will take 23.4% of the global market share for esters in 2023.
By the end of 2023, the Japan esters will hold 7.5% of the global market.
By 2023, the French esters market is expected to increase its market share by 8.3%.
By 2023, the United Kingdom esters industry anticipates a 9.8% market share.
The automobile and aviation category will expand quickly with a 5.4% CAGR throughout the projection period.
Polyol esters will account for more than 60% of the market globally in 2023.

“The rise in the cosmetics and personal care sector, the desire for sustainable as well as bio-based chemicals, and the increased use of esters as lubricants and plasticizers are the main drivers of the global esters market” – says FMI analyst.

Competitive Landscape

To expand their product offers on the global market, producers actively invest in product and technological advances, research and development expenses, and industrial alliances.

There are several independent manufacturers of alcohol and oleochemicals. These independent manufacturers deliver raw ingredients to ester producers via a significant distribution network.

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Prominent Players in the Esters Market

Mitsubishi Chemical Corporation
Exxon Mobil Corporation
Cargill, Inc.
The Procter & Gamble Company
Lanxess AG
Arkema SA
Evonik Industries AG

Product Portfolio

The creation of ester-based polymers, including polyethylene terephthalate (PET), is a specialty of Mitsubishi Chemical Corporation. PET is frequently used to make packaging materials, plastic bottles, and textile fibers.
Many of the synthetic lubricants produced by ExxonMobil contain ester base stocks. These ester-based lubricants are renowned for their remarkable thermal and oxidative resilience and are created for applications that require exceptional performance.
Cargill, a significant leader in the food sector, provides a variety of esters-based food components. Emulsifiers and texturizing chemicals used in food preparation might be examples of these.
Esters may be an ingredient in any of the many consumer goods made by P&G. These include cosmetics and skincare products for personal care and home cleaning goods that may include esters.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global esters market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the esters market, the market is segmented on the basis of product (dibasic esters, polyol esters, methyl esters, nitrate esters, vinyl esters, phosphate esters, acrylic esters, sucrose esters, fatty acid esters), application (lubricants, automotive lubricants, aviation lubricants, industrial lubricants, marine lubricants, food-grade lubricants, solvents, plasticizers, fuel and oil additives, flame retardants, insecticides, explosives, surfactants, flavoring agents), end-use industry (chemicals, food, automotive and aviation, marine, textiles, cosmetics and personal care products, general manufacturing) and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

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

Fluoropolymer Films Market Booming: US$ 3.12 Billion Revenue by 2032 Fueled by Solar and Electronics

The global fluoropolymer films market is predicted to expand at a positive CAGR of 6.4% from 2022 to 2032. The market will accumulate an estimated revenue of US$ 3,120.3 million in 2032, rising from US$ 1,986.4 million in 2022. Valued at US$ 1,873.2 million in 2021, the market grew at a CAGR of 6% from 2017 to 2021. The steady growth of the fluoropolymer films market can be attributed to the superior quality of the product which promotes its extensive use across different industries and the swift deployment and advancement of solar photovoltaic modules in the upcoming years as fluoropolymer films are used as front sheets in solar PV modules. Thus, the market looks ahead to bright prospects.

Fluoropolymer films mainly gain application as raw material in the manufacturing of machine parts, semiconductors, electronic parts, and automobile parts. Hence, an upsurge in demand for semiconductors, consumer electronics, and industrial electronics results in a spike in the demand for fluoropolymer films. Furthermore, the product witnesses heightened demand from the packaging sector because of its excellent quality. Other industrial verticals like construction, aerospace, automotive, pharmaceutical, and renewable energy, among others, further spur the demand for fluoropolymer films in the forthcoming years.

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Considered to be biocompatible due to their exceptional chemical inertness, fluoropolymer films have the ability to prevent adverse reactions when in contact with the human body. Moreover, their low moisture absorption, durability against weather conditions, and little to no chemical change or degradation when exposed to medical fluids open new avenues of growth for the fluoropolymer films market as they find usage in blister packaging and in fluid bags for biological liquids. Again, increasing technological progress and greater demand for pure goods in the medical and pharmaceutical sectors aid market growth. All of these considerations propel the fluoropolymer films market forward during the assessment period.

Key Takeaways:

High costs of the films due to fluctuating prices of raw materials and processing costs may stymie the growth of the fluoropolymer films market.
The swift advancement of solar photovoltaic (PV) modules will strengthen prospects for the fluoropolymer films market.
Owing to its excellent physical and chemical properties, the PTFE product type will remain popular with a 26.5% market share.
By end-user, the packaging industry will dominate the global marketplace with ownership of 29% of the market share.
The fluoropolymer films market in the US will expand at a CAGR of 6.2% due to widespread use in important end-use industries.
China’s fluoropolymer films market will benefit from rapid urbanization and the strong presence of key players.

Competitive Landscape

DAIKIN INDUSTRIES Ltd., Asahi Glass Co., Ltd, 3M Company, The Chemours Company, Arkema Group, Solvay SA, Dongyue Group Ltd., and Honeywell International Inc., among others, are some of the leading players in the fluoropolymer films market profiled in the full version of the report.

In an intensely consolidated environment, dominant market players are focusing on increasing investment in research and development activities to produce new and innovative products which will meet the need of the consumers. These companies also adopt mergers, acquisitions, and partnership strategies to expand their business and gain a competitive edge.

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More Insights into the Fluoropolymer Films Market

FMI offers the latest, unbiased, and detailed analysis of the global fluoropolymer films market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, end-user, and region.

According to the reports, based on segmentation, the packaging sector will likely generate the highest demand for the market. It is estimated that this category will hold about 29% of the global market share on the basis of application. In terms of product type, the PTFE segment will hold 26.5% of the market share.

Based on region, the fluoropolymer films market will display impressive growth in the US. The target market in this region will grow at a CAGR of 6.2%. This growth can be attributed to increasing demand for the product from multiple industry verticals, the presence of illustrious market players, the availability of plenty of resources, and increasing investments in product innovations. Besides the US, China, too, will make notable contributions to the global growth of the fluoropolymer films market.

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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Demand for Global Microcatheters Market is projected to be valued at rise US$ 3.0 billion by 2034 to grow at a CAGR of 3.6%

The global microcatheter market is expected to witness substantial growth in the coming years, with an estimated value of US$ 2.1 billion in 2024, which is expected to reach US$ 3.0 billion by 2034, growing at a CAGR of 3.6% over the forecast period. This growth is primarily driven by the continuous evolution in microcatheter design and materials, enabling more precise and minimally invasive procedures. The increasing prevalence of chronic diseases such as cardiovascular and neurovascular diseases propels the demand for microcatheters in diagnostic and therapeutic interventions. The preference for minimally invasive procedures over traditional surgeries, driven by faster recovery times and reduced complications, is also boosting the demand for microcatheters globally.

Medical device manufacturers are focusing on expanding their product portfolios and global distribution networks to capitalize on the increasing demand for microcatheters. The stringent regulatory requirements and approval processes need to be revised, causing delays and increasing development costs for microcatheter manufacturers. High manufacturing and procedural costs and limited reimbursement policies hinder accessibility, particularly for patients without insurance coverage or in emerging markets.

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Despite significant advancements, the complex nature of microcatheter-based procedures necessitates specialized training and expertise. The limited awareness and training among healthcare providers may lead to inadequate reimbursement policies, discouraging healthcare providers from offering microcatheter-based services and impeding market growth.

Delivery microcatheters are emerging as the preferred choice due to their versatility and effectiveness in navigating complex vascular pathways during minimally invasive procedures, thus driving market demand. Addressing regulatory hurdles, high costs, and limited reimbursement policies can unlock the full market potential and ensure widespread adoption of microcatheter-based interventions globally.

“The microcatheter market is expanding into new areas beyond traditional cardiovascular interventions, such as neurology, oncology, and peripheral vascular diseases. Advanced imaging modalities and robotics are integrated into microcatheter procedures to improve outcomes. With increasing investment in healthcare infrastructure, particularly in emerging economies, there are ample opportunities for innovation, diversification, and market growth in the future”, says an analyst at FMI.

Key Takeaways from the Market Study:

The hospital segment is expected to rise at a 2.9% CAGR through 2034.
Delivery microcatheters lead in the industry, growing at a 3.3% CAGR.
The microcatheter in Japan is projected to inflate at a CAGR of 5.0% through 2034.
Microcatheters in the United Kingdom are predicted to rise at a remarkable CAGR of 4.3% through 2034.
The microcatheter in China is anticipated to develop at a CAGR of 4.2% through 2034.
The microcatheter in the United States is estimated to rise at a whopping CAGR of 3.8% through 2034.
The microcatheter market in South Korea has the potential to increase at a 2.1% CAGR through 2034.
The microcatheter in the United States is estimated to rise at a whopping 3.8% CAGR through 2034.

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Competitive Landscape:

Several new microcatheters have been introduced in recent years, each with unique features and capabilities enabling emerging opportunities for manufacturers. These innovations have revolutionized non-surgical procedures for treating coronary artery blockages and navigating neurovasculature. Companies such as Transit Scientific, Reflow Medical, and Cerus Endovascular have received FDA clearance or CE Mark approval for their advanced microcatheters. These developments represent significant progress in microcatheter technology and provide clinicians with innovative tools to elevate patient care standards.

Recent Developments:

In May 2023, Reflow Medical launched coraCatheters™, designed to address complex lesions in percutaneous coronary interventions.
In November 2023, Transit Scientific’s next-generation microcatheter received FDA clearance, providing clinicians with an innovative tool for precise embolic agent delivery.
In July 2020, Cerus Endovascular obtained CE Mark approval for its new microcatheter, which enabled physicians to navigate neurovasculature and deliver therapeutic devices to targeted areas.
In February 2024, a novel Rapid Exchange Microcatheter was introduced, revolutionizing percutaneous coronary intervention by facilitating successful procedures with optimal coronary angioplasty guidewire utilization.

Key Companies in the Market:

Medtronic Plc
Terumo Corporation
Merit Medical System
Stryker Corporation
Penumbra Inc.
Boston Scientific Corporation
Teleflex Inc.
Asahi Intecc USA, Inc.
Surmodics, Inc.
BioCardia Inc.

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Market Segmentation:

By Product Type:

Delivery Microcatheters
Aspiration Microcatheters
Diagnostic Microcatheters
Steerable Microcatheters

By End User:

Hospitals, Surgical Centers, and Specialty Clinics
Ambulatory Surgical Centers

By Application:

Cardiovascular
Neurovascular
Peripheral Vascular
Oncological
Urological
Otolaryngological
Other Application

By Cancer Type:

Liver Cancer
Kidney Cancer
Lungs Cancer
Bone Cancer
Other Cancer

By Product Design:

Single-Lumen Microcatheters
Dual-Lumen Microcatheters

By Region:

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

About Future Market Insights (FMI)

Contact Us:

Nandini Singh Sawlani

Building Boom Drives Decorative Paints: Market to Reach US$ 108 Billion by 2033

According to Future Market Insights, the decorative paints market size is expected to grow from US$ 63.34 billion in 2023 to US$ 108 billion by 2033. It is expected that the market will grow at a CAGR of 5.4% during the forecast period. The decorative painting process provides a wide variety of designs, styles, and textures for individuals to select from. Decor technique, mainly used in interior design, has developed into a major player in the renovation of houses, apartments, commercial premises, kitchens, and bathrooms. In the past, it was purely a professional paint, but now it is popular with homeowners who wish to repurpose their homes.

Decorative paint industry innovation and growth have increased significantly in recent years. As an eco-friendly and sustainable paint option has become more popular, manufacturers have spent a great deal of time in research and development to create low-VOC water-based paints and other environmentally friendly finishes. Technology such as virtual reality is being used by many companies to improve customer engagement and experience.

Paint the Future, an initiative of AkzoNobel, and Asian Paints’ research and technology organization are also driving industry innovation. As a whole, the decorative paints industry is poised for growth, with more sustainable products and innovation in its future. Decorative paints are expected to see high growth in demand over the next few years in India. The government’s initiative to invest in infrastructure, schemes such as Housing for All in India is likely to gain traction in the market. GST on paints is set to be reduced from 28% to 18%, which will boost demand for paints.

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Key Takeaways

Due to their superior performance characteristics, water-based decorative paints are expected to replace solvent-based paints in the near future. It is estimated that the segment will grow at a CAGR of 5% over the next decade.
The market share of decorative paints applied to the interior in Europe is expected to reach 77% by 2023.
The United States decorative paint market is expected to grow by 4.8% CAGR between 2023 and 2033.
Sales of decorative paints are expected to grow at 5.7% CAGR in India over the next decade.
The decorative paints industry share is expected to reach about 9% in Japan and South Korea by 2023.
In 2023, China is expected to hold a 73% share of the East Asia decorative paints market.

“Many foreign and domestic investors are flocking to Asia’s emerging economies to meet the growing demand for construction. As a result, decorative paints are in demand. In the future, decorative paint consumption will continue to grow because of the growing importance of improving interior décor around the globe,” says an FMI analyst.

Competitive Landscape

The decorative paint industry expands and penetrates new markets, it relies on both inorganic and organic strategies. A number of these strategies are employed, including mergers and acquisitions, partnerships, and the launch of new products.

Market developments Include:

In April 2023, AkzoNobel will increase its presence in China through the acquisition of Sherwin-Williams’ Chinese decorative paints business on its own. Regulatory approvals must be obtained before the project can be completed. The company generates about €100 million in revenue each year and employs about 300 people. There is a long history and reputation for Huarun’s brand in China, which is included in the transaction.
In June 2023, a subsidiary of Asian Paints Limited known as Asian Paints Berger has announced the launch of its new decorative finishes for walls based on Arabic patterns, a product that is curated specifically for the region to restore its design heritage and give it a new look and feel. During the INDEX 2023 event at the Dubai World Trade Centre, Asian Paints Berger launched its all-new ‘Royale Play Artistica’ decorative coating product line in its own pavilion.

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Top Key Players in the Decorative Paints Market

Akzo Nobel N.V.
Sherwin-Williams Company
PPG Industries, Inc.
Asian Paints Limited
NIPSEA GROUP (Nippon Pain)
Valspar Corporation
Jotun
BASF-SE
Berger Paints India Limited
RPM International Inc.
KANSAI Paints Co., Ltd.

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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Nandini Singh Sawlani

The Chinese Takeout Market Rising disposable income, busy lifestyles, and health-conscious choices drive Chinese takeout sales

The Market for Chinese takeout is projected to develop at a compound annual growth rate (CAGR) of 7.2% from 2022 to 2032, from US$ 62.7 from US$ 107.8 billion in 2032 to billion in 2022.

This is good news for the Chinese takeaway industry since it shows that consumers are becoming more interested in products made with high-quality, fresh, organic ingredients and even plant-based alternatives. Since the majority of future transaction volume will be handled by digital natives, there will unavoidably be an

The Chinese takeout market is anticipated to develop at the fastest rate over the forecast period. When living standards have increased, customers’ propensity for lavish consumption has drastically changed.

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The demand for Chinese takeaway has increased in emerging nations due to rising disposable income and a growing eating-out lifestyle. Emerging trends in the Chinese takeaway market include the growing awareness among customers of issues related to food safety and the growing popularity of organic restaurants.

As more people in the nation look for more convenient lifestyles, there is an increasing demand for Chinese takeout food services, which suggests that the food service industry will develop in the future. Due to their more varied preferences and ability to define and influence purchase patterns, younger customers are driving the Chinese takeout business.

During the projection period, North America is expected to grow at a CAGR of 22.4%. With the United States’ dominance in the world reportedly being overtaken by China’s, the Asian giant’s cuisine is beginning to take center stage. In 2022, the urban population is predicted to grow, creating an opportunity in the Chinese takeout market.

Key Takeaways:

The Chinese takeout market is predicted to develop at a CAGR of 7.2%, with a market share of US$ 107.8 billion through 2032.
The Chinese takeout market share in North America is estimated to have a CAGR of 22.4% through 2032.
The Chinese takeout market in Europe is expected to have a prodigious CAGR of 21.4% through 2032.
The Chinese takeout market in East Asia is expected to have a prodigious CAGR of 29.4% through 2032.
The Chinese takeout market is having a market share of US$ 62.7 billion in 2022.
Countries like the US, China and Germany hold a total share of 36.8% of the Chinese takeout market.
The independent food service segment of the Chinese takeout market, based on ownership, is expected to grow at an annual rate of 65.3% through 2032.

Competitive Landscape:

Lo Mein, Manchu Wok, Asian Chao, City Wok, Din Tai Fung, Pei Wei Asian Kitchen, Chinese Gourmet Express, Bd’s Mongolian Grill, P.F. Chang’s, Mr. Chow, South Beauty, Goubuli, Haidilao, Morals Village, Lianxiang Lou, and Other Players are some major key players in the Chinese takeout market. It is expected from the legacy players to accelerate efforts to gain additional Chinese takeout market share through the right injection of funds.

Some of the primary measures players are employing to take advantage of the Chinese takeout market opportunities include frequent product launches, geographic expansions, and distribution agreements to expand their consumer base.

Recent Developments:

In accordance with Australian corporate law, Yum! Brands announced the completion of its acquisition of Dragontail Systems Limited (Dragontail), an AI-based innovative provider of technological solutions for the food sector, in 2021.
McDonald’s said in 2021 that it would test its first-ever plant-based burger, the McPlant, in China, as part of a strategic three-year relationship with Beyond Meat Inc.
Restaurant Brands International, Inc. and Ant Group established a regional cooperation in 2021 to accelerate the digital transformation of its restaurant operations across Asia-Pacific.

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Key segments:

By Product:

Appetizers
Soups
Rice
Dishes
Noodle Dishes

By Restaurant Type:

Quick Service Restaurants
Full Service Restaurants
Cafe and Bars
Street Food

By Nature:

Vegetarian
Non-Vegetarian
Vegan

By Purchase Model:

Direct to Consumer
Platform to Consumer

By Payment Type:

Cash
Debit Cards
Credit Cards
Digital Wallets
Electronic Bank Transfers

By Ownership:

Chained Foodservice
Independent Foodservice

Frequently Asked Questions:

What is the Growth Rate of the Chinese Takeout Market?
What is the projected value of the Chinese Takeout Market by 2032?
What was the Present Size of the Chinese Takeout Market?
Which is the Growing Region in the Chinese Takeout Market?
Which Segment is Leading in the Chinese Takeout Market based on Ownership?

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.

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Revolutionizing Healthcare: Global Pharmacy Automation Market Set to Reach US$ 13.3 Billion by 2033

In the wake of projected growth, the global pharmacy automation market is poised to soar to new heights, reaching a staggering value of US$ 5.6 billion in 2023, with expectations to exceed US$ 13.3 billion by 2033. This remarkable trajectory underscores the pivotal role of automation in revolutionizing healthcare delivery worldwide.

The exponential growth forecasted for the pharmacy automation market is propelled by a confluence of factors. Firstly, the escalating prevalence of chronic diseases has intensified the demand for streamlined medication management systems. Secondly, the burgeoning need for personalized medicine has spurred innovation in pharmaceutical practices, driving the adoption of automation technologies. Lastly, the imperative to enhance patient safety and operational efficiency in pharmacies has catalyzed the widespread implementation of automated solutions.

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“Pharmacy automation represents a transformative leap forward in healthcare delivery,” remarked FMI. “By harnessing cutting-edge technologies, we empower pharmacists to optimize medication dispensing and packaging processes, mitigating the risk of errors and enhancing patient outcomes.”

Automation technologies offer a multifaceted approach to enhancing pharmacy operations. Automated systems not only bolster the accuracy and efficiency of medication dispensing but also liberate pharmacists’ time, enabling them to dedicate more resources to delivering personalized care to patients.

As the healthcare landscape continues to evolve, pharmacy automation emerges as a cornerstone of innovation, driving unparalleled advancements in patient care and operational efficiency.

Key Takeaways:

The global pharmacy automation market is expected to grow from US$ 5.6 billion in 2023 to US$ 13.3 billion by 2033, at a CAGR of 8.1%.
The key drivers of the market growth include the rising demand for medication safety, operational efficiency, and technological advancements.
The market is segmented by type into automated medication dispensing systems, automated packaging and labeling systems, automated storage and retrieval systems, automated medication compounding systems, and others. The automated medication dispensing systems segment is expected to account for the largest market share during the forecast period.
The market is also segmented by application into inpatient pharmacy, outpatient pharmacy, retail pharmacy, and others. The outpatient pharmacy segment is expected to account for the largest market share during the forecast period.
North America is expected to be the largest market for pharmacy automation during the forecast period, followed by Europe and Asia Pacific.

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Regional Outlook:

North America: The North American pharmacy automation market is expected to grow at the fastest CAGR during the forecast period. This is due to the presence of a large number of key players, the high adoption of advanced technologies, and the increasing demand for medication safety and operational efficiency.
Europe: The European pharmacy automation market is expected to grow at a moderate CAGR during the forecast period. This is due to the increasing adoption of electronic health records and the growing awareness of the benefits of pharmacy automation.
Asia Pacific: The Asia Pacific pharmacy automation market is expected to grow at the second-fastest CAGR during the forecast period. This is due to the growing geriatric population, the rising number of prescriptions, and the increasing investments in healthcare infrastructure.

Other Key Regions: The pharmacy automation markets in South America, the Middle East, and Africa are expected to grow at a slower CAGR during the forecast period. This is due to the limited availability of funds, the lack of awareness of the benefits of pharmacy automation, and the underdeveloped healthcare infrastructure in these regions.

Overall, the pharmacy automation market is expected to grow significantly during the forecast period, driven by the increasing demand for medication safety, operational efficiency, and technological advancements.

Key Companies Profiled in the Pharmacy Automation Market:

Becton
Cerner Corporation
Parata Systems LLC
Yuyama Co. Ltd
PerceptiMed Inc
McKesson Corporation
Capsa Solutions LLC
Omnicell Inc
Dickinson and Company
Arxium Inc
Scriptpro LLC
Swisslog Holdings AG
Rxsafe LLC

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Key Segments in the Pharmacy Automation Market:

By Product:

Medication Dispensing Systems
Automated Medication Compounding Systems
Packaging and Labeling Systems
Storage and Retrieval Systems
Tabletop Tablet Counters

By End-use Sector:

Inpatient Pharmacies
- Acute Care Settings
- Long Term Care Facilities
Outpatient Pharmacies
- Outpatient/Fast Track Clinics
- Hospital Retail Settings
Pharmacy Benefit Management Organization and Mail Order Pharmacies
Retail Pharmacies

By Region:

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

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Nandini Singh Sawlani

Automatic Door Control Market Size Soars to US$ 28,913.00 million by 2033

The automatic door control market is experiencing steady growth, driven by the increasing demand for convenience, accessibility, and security. These systems utilize sensors, motors, and control units to automate the opening and closing of doors, enhancing user experience and building functionality. Let’s delve into the current landscape of this market, explore the exciting opportunities for growth, and examine the future trends shaping its scope.

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Current Scenario:

Automatic door controls find application in a wide range of environments, including:

Commercial Buildings: Offering hands-free access for improved accessibility, enhanced customer experience, and traffic flow management.
Hospitals and Healthcare Facilities: Ensuring hygiene control by minimizing touchpoints and facilitating easy access for patients and staff.
Airports and Transportation Hubs: Expediting passenger flow and optimizing building climate control.
Retail Stores: Creating a welcoming and inviting atmosphere for customers.
Industrial Facilities: Ensuring safety and security by controlling access to designated areas.

The market offers a variety of automatic door control systems:

Sliding Doors: Ideal for high-traffic areas or locations with limited space for swinging doors.
Swing Doors: Provide a classic and elegant entryway solution.
Revolving Doors: Energy-efficient option for maintaining climate control in high-traffic areas.
High-Speed Doors: Suitable for industrial applications where rapid opening and closing are essential.

Opportunities Abound:

Several factors present exciting opportunities for the automatic door control market:

Growing Focus on Accessibility: Regulations and a growing emphasis on inclusivity are driving the adoption of automatic doors for barrier-free access.
Advancements in Sensor Technology: Improved sensor technology, like presence sensors and facial recognition systems, can enhance user experience and security.
Smart Building Integration: Integration with smart building systems allows for centralized control, data collection, and remote monitoring of automatic doors.
Focus on Energy Efficiency: Automatic door systems with features like air curtains and self-closing mechanisms can minimize energy loss.
Rise of Demand in Emerging Markets: Rapid urbanization and infrastructure development in emerging economies create a significant market potential for automatic door control systems.

Future Scope:

The future of the automatic door control market is expected to witness advancements in several areas:

- Touchless Activation: The growing focus on hygiene will propel contactless activation methods like voice commands or gesture recognition.
- Biometric Integration: Fingerprint scanners or facial recognition systems can enhance security and access control.
- Self-Diagnosis and Predictive Maintenance: Smart features will enable automatic door systems to identify potential issues and schedule preventive maintenance.
- Customization and Design Flexibility: Manufacturers will cater to diverse architectural styles by offering a wider range of door design options and finishes.
- Increased Focus on Cybersecurity: As automatic door systems become more connected, robust cybersecurity measures will be crucial.

Gearing Up for Growth: Driveline Additive Market Expected to Reach US$ 15.2 Billion by 2033

The driveline additive market is estimated to be worth US$ 9.3 billion in 2023 and is projected to be valued at US$ 15.2 billion in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 5.1%. The driveline additive market is projected to grow more than the conventional lubricant additives due to its numerous on- and off-road applications.

The increasing demand for driveline additives in off-road applications in agriculture, construction, mining, and forestry heavy machinery is likely to boost the market growth. OEM requirements for extended drain, fuel efficiency, and temperature stability will create a positive market growth environment for driveline additives during the forecast period.

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Engine oil additives are gaining traction in passenger cars. Motor oil additives for passenger cars can aid in reducing emissions, extending engine life, and improving performance and fuel economy, driving the market’s growth.

Environmental consciousness and regulations promoting environmentally friendly lubricants and additives can lead to developing and adopting eco-friendly driveline additives. The growth of urban populations and industrialization in emerging markets drive the demand for transportation and industrial machinery, creating opportunities for the driveline additive market.

Key Takeaways

From 2018 to 2022, the driveline additive market demand expanded at a CAGR of 4.0%
Based on product type, the transmission fluid additives segment is expected to account for a market share of 59% during the forecast period.
Global driveline additives demand in the United Kingdom is predicted to account for a CAGR of 4.9% from 2023 to 2033.
In the United States, the market is expected to account for a CAGR of 5.0% between 2023 and 2033.
China is projected to expand by a value CAGR of 4.8% between 2023 and 2033.
By 2033, the driveline additives market in India is anticipated to record a CAGR of 4.5% during the forecast period

“The increasing application of driveline additives in industrial machinery and agricultural equipment is anticipated to drive the market growth during the forecast period.” – says FMI analyst.

Competitive Landscape

Players have used product launches and business expansion to grow their market share, increase profitability, and stay competitive in the driveline additive market.

In recent years, prominent players have been involved in corporate tie-ups with automotive OEMs to retain their existing customers and deliver customized products. The leading players involved in the commercialization of their products to leverage immense potential in the market.
Some of the recent developments in the market are discussed below.

Afton Chemical specializes in additives for fuels and lubricants, including driveline additives. They offer solutions to enhance performance, reduce friction, and improve fuel efficiency. Afton Chemical Corporation is working with OEMs to meet today’s OEM requirements for extended drain, fuel efficiency, and temperature stability.
Chevron Oronite, a subsidiary of Chevron Corporation, develops and manufactures specialty chemicals, including driveline additives, to enhance the performance and efficiency of lubricants.
Evonik is a global specialty chemical company with a focus on additives for various industries. They offer driveline additives that address friction reduction and protection of drivetrain components.

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Key Companies Profiled

Lubrizol Corporation
Chevron Oronite Company, LLC
BRB International BV
Vanderbilt Chemicals, LLC
Infineum International Limited
Afton Chemical
Lubrilic Corporation
. BASF SE
Evonik Industries AG.
The Lubrizol Corporation.

Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global Internet of Everything (IoE) market, providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.

To understand opportunities in the driveline additives market, the market is segmented based on product Type (Transmission Fluid Additives, Gear Oil Additives), Application (Passenger Car, Commercial Vehicles, Off-Highway vehicles), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, 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