Market Research Blog – Page 3438 – New Product Development

Food, Beverage, and Pharma Drive Demand: Refrigeration Oil Market to Reach US$ 2,332.9 million by 2033

The refrigeration oil market size is projected to be valued at US$ 1,425.9 million in 2023 and is expected to rise to US$ 2,209.9 million by 2033. The sales of refrigeration oil are expected to grow at a significant CAGR of 4.9% during the forecast period.

The refrigeration oil market plays a crucial role in supporting the efficient and reliable operation of refrigeration systems across various industries. Refrigeration oil is a specialized lubricant specifically formulated for use in refrigeration compressors and other components of refrigeration systems.

The increasing demand for refrigeration and cooling solutions in industries such as food and beverage, pharmaceuticals, chemicals, and HVAC (heating, ventilation, and air conditioning) has propelled the growth of the market. Refrigeration systems are essential for preserving and transporting temperature-sensitive products, and the proper lubrication of compressors is crucial for their optimal performance.

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The growing focus on energy efficiency and environmental sustainability has influenced the refrigeration oil market. Manufacturers are developing refrigeration oils that offer excellent lubrication properties, thermal stability, and compatibility with modern refrigerants.

Additionally, the increasing demand for frozen and packaged food products has driven the growth of the refrigeration oil market. The global food trade has expanded, and perishable food products need to be transported and stored under controlled temperature conditions.

HFCs (hydro-fluorocarbons) hold a significant share of 36.3% in the refrigeration oil market, reflecting their widespread use as refrigerants in various cooling and refrigeration systems. Refrigeration oils specifically formulated for HFC-based systems offer excellent lubrication properties, thermal stability, and compatibility with HFC refrigerants. The demand for refrigeration oil is closely linked to the adoption of HFCs, driven by increasing environmental regulations and the focus on sustainable refrigeration solutions.

Refrigerators and freezers hold a substantial share of 31.5% in the application of refrigeration oil market, reflecting their extensive usage in both residential and commercial sectors. Proper lubrication with refrigeration oil is essential for the efficient and reliable operation of refrigeration systems in these appliances.

The USA is expected to hold a prominent value share of 15.3% in the refrigeration oil market in 2022. Ongoing investments and development in industries such as automotive, oil and gas, pharmaceuticals, and infrastructure contribute to the demand for refrigeration systems and refrigeration oil in the country.

Germany is projected to hold around 6.1% of the demand share in the Europe refrigeration oil market. The country’s extensive spending on drug development and the expansion of the healthcare system and pharmaceutical industry contribute to the demand for refrigeration systems and refrigeration oil.

Recent Developments

ExxonMobil, an oil and gas company, and Qatar Energy, a petroleum company, announced in June 2022 that they had signed an agreement to further develop Qatar’s North Field East project, which will increase the country’s annual LNG capacity from 77 million tonnes to 110 million tonnes by 2026.

Shell plc, an oil and gas company, agreed to sell IKAV its 100% stake in Shell Onshore Ventures LLC, which owns a 51.8% stake in Aera Energy LLC, a natural gas and oil exploration and production company, for approximately US$ 2 billion in cash and additional contingent payments based on future oil prices, in September 2022.

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Key Companies Profiled in the Refrigeration Oil Market

ExxonMobil Corporation
Shell Plc
Idemitsu Kosan Co., Ltd.
MEIWA CORPORATION
CPI Fluid Engineering (Part of The Lubrizol Corporation)
FUCHS Lubricants (Part of FUCHS Petrolub SE)
Chevron Phillips Chemical Company LLC
Performance Chemicals (Division of BASF SE)

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Guitar Market: Growth Sales Projection at 7.6% CAGR by 2033 Revealed

In 2023, the global guitar market is anticipated to reach US$ 11.09 billion, with a growth rate of 7.6% CAGR. By 2033, the market has been estimated to reach US$ 23.29 billion. The rising popularity of music-related leisure activities is a key factor propelling the market’s expansion.

Rock and metal music genres have caused some people to learn guitar. The popularity of the guitar has steadily grown in recent years. The popularity of live music shows and the number of people attending such shows is growing rapidly. Furthermore, the guitar has become more popular than the piano, due to its accessibility.

A growing interest in music is resulting in a significant increase in demand for the instrument. The rise in popularity of popular music genres such as metal and rock encourage people to learn guitar.

Electric guitars are essential to these genres of music. As a result of changing lifestyles, increased disposable income, and high living standards, consumers are increasingly engaging in leisure activities. The result is an expanding music band around the globe.

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Growth Drivers:

Rising Popularity of Online Learning Platforms: The proliferation of online guitar learning platforms and tutorials has made learning the instrument more accessible, driving demand for guitars among beginners and enthusiasts globally.
Innovations in Guitar Technology: Advancements in guitar manufacturing technology, including the integration of digital effects, improved pickup systems, and lightweight materials, are attracting both seasoned players and novices, stimulating market growth.
Expanding Music Industry: The continuous growth of the music industry, fueled by streaming platforms and live events, is contributing to increased demand for musical instruments, including guitars, as more individuals engage in music creation and performance.
Celebrity Endorsements and Influencer Marketing: Partnerships with musicians, influencers, and celebrities across social media platforms are amplifying brand visibility and driving consumer interest in guitars, particularly among younger demographics, fostering market growth.
Rising Disposable Incomes in Emerging Markets: Economic growth and rising disposable incomes in emerging markets are expanding the consumer base for guitars, with countries like China, India, and Brazil showing significant potential for market expansion.

Industry Restraints:

Competition from Digital Instruments and Software: The increasing popularity of digital instruments, virtual synthesizers, and software-based music production tools presents a challenge to traditional guitar manufacturers, as some musicians opt for more versatile and cost-effective digital solutions.
Supply Chain Disruptions and Raw Material Shortages: Disruptions in the global supply chain, exacerbated by factors such as trade tensions, natural disasters, and the COVID-19 pandemic, have led to shortages of key components and raw materials, hindering production and increasing manufacturing costs for guitar makers.
Declining Interest Among Younger Generations: Despite efforts to attract younger consumers, there’s a gradual decline in interest in traditional instruments like guitars among certain demographics, as preferences shift towards digital music production and genres less reliant on conventional instruments.
Environmental Concerns and Sustainability: Growing environmental consciousness among consumers is prompting scrutiny of manufacturing practices within the guitar industry, particularly regarding the sourcing of exotic woods and the environmental impact of production processes, posing challenges for companies that rely heavily on traditional materials.
Economic Uncertainty and Consumer Spending: Periods of economic uncertainty, such as recessions or downturns, can dampen consumer spending on discretionary items like musical instruments, leading to reduced demand and sales within the guitar market. Economic volatility can also affect purchasing power and investment in music education, further impacting market growth.

Key Takeaways from the Market Study

The guitar market is expected to register a CAGR of 7.6% over the forecast period.
According to estimates, the guitar market in North America is expected to remain strong throughout the length of the forecast period.
The electric guitar segment is expected to record a CAGR of 8.3%, while the acoustic segment is expected to thrive at a CAGR of 7.6%.
The United States, a leading guitar market, is expected to expand at a CAGR of 8.9%, while most sales come from China and it’s estimated to be US$ 9,253.00 million in 2023.

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Competitive Landscape:

Manufacturers are closely monitoring rapidly changing consumer preferences to capitalize on market demand. Existing players are adding guitars to their inventory and acquiring updated ones.

As businesses continue to focus on raising discovery through a broad range of cultural and novelty influences, they are refining what they offer to appeal to a global audience. Top players in the global guitar market compete on price, quality, and innovation.

Several prominent companies dominate this market, including

Fender Musical Instruments Corporation
Gibson Brands, Inc,
Karl Höfner GmbH & Co. KG
Yamaha Corporation
B.C. Rich Guitars
Cort Guitars
PRS Guitars
The ESP Guitar Company
G&L Musical Instruments
Godin Guitars
Samick Musical Instrument Co., Ltd
Schecter Guitar Research
TAYLOR-LISTUG, Inc
Rickenbacker International Corporation

Recent Developments:

In July 2022, Yamaha Music Square launched a new lineup of Revstar electric guitars from Yamaha Music Worldwide.
As part of the ZamStar app and electric guitar platform, Samsung introduced a smart electric guitar dubbed ZamString in January 2022.
In July 2021, Gibson Brands, Inc. announced a partnership with Kirk Hammett of Metallica. This partnership could result in a signature guitar line from Gibson Brands, Inc.
Fender Musical Instruments partnered with Kyser in September 2021 to offer electric guitar capos featuring Kyser’s design. The stylish guitar caps can be found on both Fender and Kyser musical instruments.

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Guitar Market by Category

By Product:

Acoustic
Electric

By Distribution Channel:

Offline
Online

By Region:

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

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Flexible Endoscopes Market Poised for Explosive Growth at a CAGR of 6.4%, Reaching US$ 16.73 Billion by 2033

The global market for flexible endoscopes is on track for a significant surge, with a projected Compound Annual Growth Rate (CAGR) of 6.4%. This impressive growth is expected to propel the market valuation to a staggering US$ 16.73 billion by the end of 2033, compared to US$ 8.98 billion in 2023.

Several factors are fueling this remarkable market expansion. A key driver is the rising demand for flexible endoscopes, particularly in gastrointestinal examinations. As global living standards improve, people are increasingly prioritizing healthcare, leading to higher spending on medical services and infrastructure.

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Furthermore, the growing prevalence of chronic diseases has heightened worldwide awareness of the importance of preventive check-ups and early diagnosis. This trend is driving individuals to seek medical attention sooner, which in turn, increases the demand for flexible endoscopes – a vital tool in the diagnostic process.

The expanding geriatric population, particularly susceptible to gastrointestinal conditions, is another factor propelling the global demand for these endoscopes. Additionally, rising investments from governments and healthcare organizations in modernizing medical facilities are significantly contributing to the market’s growth.

Recent advancements in endoscope design have also played a crucial role. The introduction of cost-effective disposable and single-use endoscopes has minimized the risk of cross-contamination. These innovations are particularly impactful in developing regions with rapidly evolving healthcare infrastructure, further expanding the market’s reach.

This highlights the robust growth trajectory of the flexible endoscopes market, driven by a confluence of factors including rising healthcare expenditure, growing chronic disease burden, and technological advancements. The market is poised for a bright future, with the potential to revolutionize healthcare diagnostics in the years to come.

Key Takeaways:

In numerous chronic disease conditions, many medical professionals advise early-stage diagnosis, which is anticipated to augment the demand for flexible endoscopes with lightning speed. These devices allow invasive procedures to become easier for medical practitioners to perform accurate diagnoses and make treatment less painful for patients.
The requirement for flexible endoscopes is anticipated to increase as a result of hospitals and medical facilities investing heavily in the setup of flexible endoscope cameras using smartphone technology.
Veterinary flexible endoscopes have drastically become popular among veterinarians in the field of animal care as animal husbandry commercialization and pet ownership have increased, especially in developed nations.
The elevating demand for minimally invasive procedures has significantly increased over the past decade. Owing these procedures employed can effectively reduce the number and size of cuts or incisions performed on the body.
Endoscopies are known to be minimally invasive medical procedures that enter the body through openings. Endoscopies have therefore been widely utilized for diagnostic purposes around the world. This causes the need for flexible endoscopes to soar, which in turn fuels the expansion of the market under study offering lucrative opportunities to the market players.

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Competitive Landscape:

The flexible endoscopes market is known to be fragmented owing to the large number of manufacturers functioning in it. Furthermore, key market players are focusing on acquisitions, collaborations, and product certifications to expand their product portfolios and increase sales across the globe.

Key Companies Profiled:

Becton, Dickinson and Company
Boston Scientific Corporation
Cooper Surgical
Endomed Systems
Fujifilm Corporation
Hoya Corporation
Karl Storz
Laborie Medical Technologies
Olympus Corporation
Richard Wolf GmbH
Stryker Corporation
Smith & Nephew, Inc.

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Key Segments Covered in Flexible Endoscopes Industry Research:

By Product:

Upper Gastrointestinal Endoscope
- Upper Gastrointestinal Videoscopes
- Upper Gastrointestinal Fiberscopes
Colonoscopes
- Video Colonoscopes
- Fiber Colonoscopes
Bronchoscopes
- Video Bronchoscopes
- Fiber Bronchoscopes
Sigmoidoscopes
- Video Sigmoidoscopes
- Fiber Sigmoidoscopes
Laryngoscopes
- Video Laryngoscopes
- Fiber Laryngoscopes
Duodenoscopes
- Video Duodenoscopes
- Fiber Duodenoscopes
Nasopharyngoscopes
- Video Nasopharyngoscopes
- Fiber Nasopharyngoscopes
Rhinoscopes
- Video Rhinoscopes
- Fiber Rhinoscopes
Neuroendoscope
Cystoscopes
- Video Cystoscopes
- Fiber Cystoscopes
Laparoscopes
- Video Laparoscopes
- Fiber Laparoscopes
Other Flexible Endoscope

By Application:

Gastrointestinal (GI) Endoscopy
Laparoscopy
Arthroscopy
Obstetrics/Gynecology Endoscopy
Urology Endoscopy (Cystoscopy)
ENT Endoscopy
Bronchoscopy
Mediastinoscopy
Others

By End User:

Hospitals
Ambulatory Surgery Centers
Specialty clinics

By Region:

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

About Future Market Insights (FMI)

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

Cooling Fans Market Set for Surge: Prolific 10.4% CAGR Expected by 2032

The global market size for cooling fans reached approximately US$ 7.9 billion in 2022 and is expected to exceed a valuation of US$ 21.2 billion by 2032. Moreover, fueled by the rapid expansion of industries such as automotive and consumer electronics, overall cooling fan sales are projected to experience a remarkable Compound Annual Growth Rate (CAGR) of 10.4% from 2022 to 2032.

Similarly, the market is anticipated to expand quickly during the forecast period as a result of a many recent trends, including an increase in demand for cutting-edge technology, growing demand for hybrid electric vehicles, rapid penetration of industrialization, ongoing investment in R&D, an increase in demand for high-efficiency products in the manufacturing market.

Cooling fans have become essential equipment for numerous industries as they help to cool down machinery during functioning. These fans remove heat from systems and thus minimize the risk of damage to components due to excessive heating.

Rising production and sales of vehicles across the globe will play a key role in boosting the global cooling fans market during the forecast period. Automotive manufacturers are installing efficient cooling fans in their vehicles as they take away all heat absorbed from the engine using coolant.

Most of the cooling sales remain concentrated in the industrial segment. However, other sectors like consumer electronics, telecom, and automotive will also help the cooling fans market to thrive at a stupendous growth rate during the projection period.

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According to the report, key market participants are anticipated to concentrate on product penetration in regions like South Asia and Latin America. By integrating environmentally friendly raw materials in their production, cooling fan manufacturers are diverting their attention to sustainability concerns.

Key Takeaways from the Cooling Fans Market Study

By type, centrifugal cooling fans segment is anticipated to grow at 5.4% CAGR through 2032.
In terms of application, industrial segment holds the largest share of 37.2% in the global cooling fans market.
Based on sales channel, the online retailing segment is forecast to grow at a CAGR of 5% over the projection period
North America and Europe together hold the major share of around 2% in the global cooling fans market.
The U.S. cooling fans market is projected to expand at 5.7% CAGR between 2022 and 2032.
The overall cooling fans market in Japan is likely to grow at 9.2% CAGR during the forecast period.

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“Cooling fan’s providers are concentrating on expanding their product portfolios by introducing innovative products at affordable prices. This will help them to increase their revenue share over the projection period”, says an FMI analyst.

Who is Winning?

Leading manufacturers of cooling fans are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of cooling fans market globally.

Leading players operating in the global cooling fans market are

Delta Group
MinebeaMitsumi Inc. (NMB Technologies Corporation)
SUNON Group
Nidec Corporation
EBM-Papst Group
Ziehl-Abegg SE
Aerovent
Horton, Inc.
SPAL Automotive
DENSO
S.P. Plastic Industries
ADDA
AVC
AMETEK.Inc
Rosenberg
Multi-Wing America
Flexxaire
Other Key Manufacturers (As per requirement)

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Global Cooling Fans Industry by Category

By Type:

Axial Fans
Centrifugal Fans
Others

By Application:

Consumer Electronics
Telecom/Datacom
Automotive and Transportation
Industrial
Others

By Sales Channel:

Direct Sales
Specialty Stores
Multi-brand Stores
Online Retailing
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

Author

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

Aluminum Foam Market is Projected to Reach at a US$ 68.02 Million by 2033 | FMI

The global market for aluminum foam is expected to grow at a 4.5% compound annual growth rate (CAGR) from 2023 to 2033, reaching US$ 68.02 million. Aluminum foam is expected to gain popularity because of its low density, excellent crush strength, and resistance to corrosion. It is also lightweight. Furthermore, the capacity of aluminum to be recycled is crucial for the creation of aluminum foams. With applications ranging from automotive and aerospace to construction and packaging, aluminum foam serves as a versatile material offering enhanced performance and sustainability.

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The market’s progression underscores the ongoing innovation and development efforts in the field of lightweight materials and advanced manufacturing techniques.

Aluminum foam presents a compelling solution for structural needs. Within the shipbuilding sector, there’s growing interest in leveraging metal foam to minimize weight and redistribute it strategically, particularly in upper structures. This endeavor aims to enhance ship stability and, consequently, augment load capacity. The unique expansion properties of foamed aluminum, akin to a sponge, enable effective bonding with steel. Such innovation holds the potential to significantly reduce cargo ship weight by up to 30%, thereby curbing fuel consumption and emissions—a promising step toward sustainability in maritime transportation.

Top Highlights from the FMI’s Analysis of the Aluminum Foam Market:

The East Asia market is about to top the regional market over the forecast period. The East Asia market is estimated to reach US$ 23 million by 2023. The regional market is projected to expand at 5.5% CAGR over the forecast period. China is anticipated to hold a significant share of East Asia through 2033.
The market in Europe is expected to expand at 3% over the forecast period. The region is set to attain US$ 19.4 million in the year 2023. Within Europe, Germany is projected to emerge as a significant market.
In North America, the market is expected to trail at a CAGR of 3.9% over the forecast period. By 2023, the region is estimated to be valued at US$ 17 million. Within North America, the United States is expected to surpass US$ 7.6 million by 2023 end.
Based on product type, the open-cell foam is expected to reach a market valuation of US$ 31.6 million by 2023. Over the upcoming years, the segment is projected to register CAGR of 4.3%, slightly higher than the 4.2% CAGR witnessed in the historical period.
Based on application type, the energy absorber segment is anticipated to be valued at US$ 10.9 million by 2023. Over the upcoming years, the segment is projected to embark on a CAGR of 4.1%.

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New Developments for the Year 2022 Observed by FMI

In December 2022, Cymat Technologies Ltd. announced that it is entering into an agreement for a second component development with its global OEM. The company announced the agreement with this OEM in July, earlier in the year. This was done after significant time was utilized in design collaboration by using Cymat’s proprietary aluminum foam, SmartMetal^TM.
In September 2022, Cymat Technologies Ltd. revealed that it has received a purchase order from an Asian military vehicle developer for military under-belly blast protection kits (“blast kits”) to be used by the Singaporean military. The SmartMetal™ stabilized aluminum foam (“SAF”) has been successful in effectively absorbing and plummeting the energy of the compressed air wave that leads to explosions.

Competitive Landscape

The aluminum foam market has its top players accounting for 80-90% of the global production. The key players operating in the market are focusing on attracting substantial portion of consumer base by offering aluminum foam to cater to wide applications and focus on research to enhance their product offerings.

Key Players:

Beihai Composite Materials Co.,Ltd.
Composite Materials Ltd.
Cymat Technologies Ltd.
American Elements Corporation
ERG Aerospace Corp.
Hollomet GmbH
Pohltec Metalfoam GmbH

Key Segments Covered In Aluminum Foam Industry Research

By Product Type

Open Cell Foam
Closed Cell Foam
Others

By Application Type

Energy Absorber
Heat Exchanger
Damping Structures
Filtration
Insulation
Others

By End-use

Automotive & Transportation
Aerospace & Defense
Building & Construction
Chemical
Other Industrial

By Region

North America Aluminum Foam Market
Latin America Aluminum Foam Market
Europe Aluminum Foam Market

About Future Market Insights Inc. (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

Gamma Probe Devices Market Poised for Explosive Growth at 9.8% CAGR, Reaching US$ 244.3 Million by 2033

The global gamma probe devices market is on track for remarkable growth, according to a new study by Future Market Insights (FMI). The market is expected to reach a valuation of US$ 86.9 million by the close of 2023 and surge at a compound annual growth rate (CAGR) of 9.8%, reaching an impressive US$ 244.3 million by 2033.

Trolley-Mounted Devices Take the Lead:

The study highlights the dominance of trolley-mounted gamma probe devices, capturing an expected market share of 38.7% in 2023. This signifies a clear market preference for these versatile and efficient devices, well-suited for diverse applications across various sectors.

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“We’re witnessing a dynamic shift towards trolley-mounted devices, driven by their growing demand,” says a gamma probe devices market analyst at Future Market Insights. “These devices offer unmatched versatility and efficiency, making them the preferred choice for various surgical procedures.”

Rising Demand in Cancer Detection and Treatment:

Sentinel lymph node biopsies, a common procedure for staging melanoma and breast cancer, are increasingly utilizing gamma probe devices. This trend is expected to continue across other cancer types as well. Additionally, the International Atomic Energy Agency (IAEA) reports a significant rise in parathyroid detection using intraoperative gamma probes.

The World Cancer Research Fund International confirms breast cancer as the most common cancer among women globally, with over 2 million new cases diagnosed annually. These statistics are poised to fuel the growth of the gamma probe devices market in the coming years.

Innovation Drives Market Forward:

The latest market trend is the introduction of click-on gamma probes, a significant step towards complete radio guidance integration during surgery. Additionally, the DROP-IN (tethered) gamma probe concept allows for seamless integration with robotic instruments, facilitating autonomous control by the surgeon.

Challenges and Opportunities:

Despite the promising growth projections, the market faces potential hurdles. Higher installation and maintenance costs associated with gamma probe devices could pose a challenge. However, continuous advancements and cost-effective solutions are expected to mitigate this impact.

FMI’s comprehensive market study, titled “Gamma Probe Devices Market,” offers valuable insights and future perspectives based on a 360-degree analysis of macro and microeconomic factors.

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Key Takeaways from Gamma Probe Devices Market:

North America holds a significant market share with the US being subject to concentration on improvising on flexibility, throughput, and productivity. Nuclear therapies’ frequency is increasing due to remarkable investments in research on this count.
Europe stands second with Germany leading from the front. This could be credited to well-established players being present over here along with rising spending on healthcare.
The Asia-Pacific is expected to grow at a rapid pace in the gamma probe devices market in the forecast period with China dominating the scene. This could be reasoned with growing frequency of chronic ailments.

Competitive Devices:

Southern Scientific, in October 2021, entered into collaboration with Helgeson. The latter comes across as a producer of various detectors, equipment, and area monitors with more than 3 decades of experience in nuclear therapy.
KUBTEC, in May 2022, did acquire Wprobe Technology from ‘Oncovision’s firm’. The technology is looked upon as a gold standard in the radio-guided surgery and does involve a spectrum of wireless gamma probes to identify sentinel lymph node.
Lightpoint Medical, in February 2022, did report that Dr. Doug Adams (one of the specialists in robotic thoracic surgery at Bethesda North Hospital (part of TriHealth, Ohio)) performed the first of its kind lung procedure with SENSEI (new miniature robotic gamma probe).

What does the Report probe?

The research study is based on modality (handheld device, benchtop device, and trolley mounted device), by application (thyroid uptake and sentinel lymph node uptake (breast cancer, melanoma, colon cancer, NSCLC, renal cancer, and others), and by end-user (hospitals, ASCs (Ambulatory Surgical Centers), and specialty centers and clinics).
With growing awareness regarding advantages of gamma radiation over traditional detection methods such as X-Rays, the global gamma probe devices market is expected to stand in a good stead in the near future.

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Key Companies Covered:

Biodex Medical Systems, Inc.
CAPINTEC, INC.
Crystal Photonics GmBH
Devicor Medical Products, Inc (Mammotome)
Dilon Technologies, Inc
Gamma Medical Technology
Intramedical Imaging
Intramedical Imaging
KUB Technologies
L’ACN – l’Accessorio Nucleare
Mammotome
NUCLEAR MEDSYSTEMS
Oncovision
Southern Scientific Ltd.

Key Market Segments Covered in Gamma Probe Devices Industry Research:

Modality:

Hand Held Device
Benchtop Device
Trolley Mounted Device

Application:

Thyroid Uptake
Sentinel Lymph Node Uptake
- Breast Cancer
- Melanoma
- Colon Cancer
- NSCLC
- Renal Cancer
- Others

End User:

Hospitals
Ambulatory Surgical Centers
Specialty Centers and Clinics

Region:

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

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

From Wastewater to Clean Water: The Rise of Sludge Treatment Chemicals and a Sustainable Future

According to forecasts, the sludge treatment chemicals market is expected to be US$ 9,561.7 million in 2023 and US$ 14,456.8 million by 2033.

The need for sludge treatment chemicals is driven by increasing efforts by municipal corporations, industrial organizations, and environmental organizations toward water conservation operations.

The market is also anticipated to be caused by the expanding number of enterprises worldwide and municipal sludge treatment facilities. Moreover, growing initiatives for the supply of clean drinking water in the United States are expected to propel demand for sludge treatment chemicals during the forecast period.

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The primary reasons boosting the global market are growing industrialization, rising environmental concerns, and increased need for sludge removal. The market is anticipated to increase during the projected period due to the rising attention of various regulatory authorities on reducing sludge volume.

The high cost of sludge treatment severely constrains the market for sludge treatment chemicals. High operational costs also restrict the market rate of expansion.

Key Takeaways

By 2033, the sludge treatment chemicals market in the United Kingdom is likely to expand, with a CAGR of 5.2%.
In 2023, the United States is expected to develop the sludge treatment chemicals business with a share of 16.1%.
The sludge treatment chemicals market grew considerably to US$ 9,220.5 million in 2022.
The sludge treatment chemicals sector expanded at a CAGR of 3.7% from 2018 to 2022.
By 2033, China’s sludge treatment chemicals market is projected to develop with a CAGR of 4.0%.
By 2033, India’s sludge treatment chemicals industry is projected to expand with a CAGR of 4.7%.
Japan’s sludge treatment chemicals industry is likely to grow significantly, with a 7.1% share in 2023.
Australia’s sludge treatment chemicals are expected to develop with a share of 3.5% in 2023.
Germany’s sludge treatment chemicals business is expected to grow, with a share of 0.9% in 2023.
In 2023, based on the product type, the flocculant segment is expected to dominate the market, with a share of 61.4%.
In 2023, an industrial segment is expected to dominate the market, with a share of 45.8%, based on application.

Competitors’ Successful Techniques

Businesses are working to make industrial sludge less harmful, and demand for sludge treatment chemicals is anticipated to rise throughout the expected period. In the next few years, it is anticipated that the expanding metal processing industry and the increasing chemical industry jointly drive the global sludge treatment chemicals market.

Recent Development:

2019 saw the completion of Solenis’ acquisition of BASF’s wet-end Paper and Water Chemicals division. It is a multinational specialty chemical company focusing on paper and commercial water treatment.
In September 2021, Ecolab introduced Flotation 360, a product designed specifically for mining and mineral processing, under the Nalco water segment.
Kemira’s new Asia Pacific research and development facility opened in Pujiang Town, Shanghai, China, in September 2021.
Suez, a French-based water utility firm, partnered with Jiangsu Sino, a French-based water company, to build a water plant in Changshu, a city in China, in April 2022.

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Top Key Players in the Global Sludge Treatment Chemicals Market

BASF SE
Chembond Chemicals Limited
GE Water and Process Technologies
Kurita Water Industries Ltd.
Ion Exchange
Kemira Oyj
AkzoNobel N.V.
Solenis
Thermax Ltd.
Veolia Water Technologies
Accepta Advanced Environmental Technologies
Hubbard-Hall Inc
Beckart Environmental
Ecolab Incorporated

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Nandini Singh Sawlani

Micropump Market Poised for Explosive Growth at 18.4% CAGR, Fueled by Innovation and Diverse Applications

The global micropump market is on track for a remarkable surge, with a projected market valuation of US 12.8 billion by 2033. This significant growth, driven by a compound annual growth rate (CAGR) of 18.4%, signifies the increasing adoption of micropumps across various industries.

Micropumps: A Boon for Diverse Sectors

Micropumps are making waves in biotechnology & pharmaceuticals, hospitals & diagnostics, and academic & research institutions. Their contribution to a wide range of applications is fueling their widespread use. In particular, micropumps play a critical role in hormone treatment, pain and wound-care management, and the precise injection of medications like insulin and glucose. The rising demand for these applications is expected to propel the micropump industry forward.

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Advanced Therapies and Miniaturization Drive Market Growth:

The development of novel cancer therapies that require advanced micropump sets is a significant driver of this growth. Furthermore, the evolving healthcare landscape with its emphasis on precision medicine is pushing the market further.

MEMS Technology: Powering Micropumps

Advancements in microelectromechanical systems (MEMS) technology are another key factor propelling the market. MEMS-based micropumps offer distinct advantages – lower power consumption, smaller size, and enhanced reliability – making them ideal for applications with space and power limitations.

Micropumps: A Boon for Microfluidics and Diagnostics

The microfluidics and lab-on-a-chip industries are also significantly contributing to the demand for micropumps. These pumps enable precise handling and manipulation of minute fluid volumes for research and diagnostics, leading to faster and more accurate analysis.

Environmental Monitoring and Point-of-Care Diagnostics: New Frontiers

The growing focus on environmental monitoring and point-of-care diagnostics is expected to further propel the micropump market. Micropumps’ ability to deliver small quantities of reagents and samples with minimal waste makes them invaluable in these applications, where efficiency and resource conservation are crucial.

This highlights the promising future of the micropump market, driven by its expanding role in various sectors.

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Key Takeaways from Micropump Market:

North America holds more than 40% of the market share. This could be attributed to higher purchasing power of the US citizens, robust support from the government regarding quality healthcare, presence of top-notch infrastructure for laboratory and clinical research, and higher adoption of various technologically advanced products.
The Asia-Pacific is expected to grow at the fastest rate in the micropump market due to upgradation in healthcare infrastructure all across India and China. Singapore and Malaysia are already doing well with respect to medical tourism.
Europe is expected to hold a significant market share with countries like Belgium, The Netherlands, and Denmark being at the forefront.

“Micropumps have evolved since the last few years through numerous techniques through advancements in electronic and digital capabilities”, says an analyst from Future Market Insights.

Competitive Micropumps:

Bartels Mikrotechnik GmbH, in January 2022, tabled mp6 series. They comprise mp6-Liq, mp6-gas+, and mp6-gas.
Sensile Medical AG (Gerresheimer’s subsidiary), September 2018, received EU certification. One of the European companies achieved CE declaration of conformity for micro-rotary pump used for treating advanced Parkinson’s disease.
TTP Ventus, in June 2019, launched the LT series for serving applications while demanding operational life requirements all across medical, life science, environmental, and industrial sectors.
Cole-Parmer India Pvt. Ltd., after successfully testing shear-sensitive and pumping live cells fluids, released the high-end micropump head series. They were named ‘Masterflex L/S Cytoflow Pump head”.
Biochem Fluidics, in July 2017, released Maestro ULTRA piston pump, Perialistic Pumps, Opus Rocker Valves.
Backtrace has its Dolomite Bio, which is known for specialization in microfluidic droplet applications that offer individual modules and microfluidic systems, reagents, and control software for applications pertaining to cell biology.

The National Institute of Biomedical Imaging and Bioengineering, in October 2020, came up with Point-of-Care Technologies Research Network for driving development of the point-of-care technologies.

Medtronic, in March 2022, tabled MiniMed 780 G systems all across India.

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List Encompassing Key Players Operating in Micropump Industry:

LEE Ventus
Sensile Medical
Cole-Parmer India Pvt Ltd
IDEX
Dolomite Microfluidics
The Lee Company
Gardner Denver
Takasago Electric, Inc.
Halma Plc
Servoflo Corporation

Market Segments Covered in Micropump Industry Analysis:

By Product Type:

Mechanical Micropump
- Piezoelectric Micropump
- Peristaltic Micropump
- Others
Non-mechanical Micropump

By Application:

Drug Delivery
In-vitro Diagnostics
Medical Devices
Others

By End User:

Biotechnology & Pharmaceutical Companies
Hospitals & Diagnostic Centers
Academic & Research Institutes

By Region:

North America
Latin America
Europe
Asia Pacific
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 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

Pearlescent Pigments Market to Reach US$ 5,544.7 Million by 2033: Capitalize on Low VOC and High Performance

The pearlescent pigment market 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.

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.

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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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Top Key Players in the Global Pearlescent Pigment Market

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
Aal Chem
Zhejiang Ruicheng Effect Pigment Co., Ltd
Sinpearl Pearlescent Pigment Co., Ltd
Kolorjet Chemicals Pvt Ltd

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Nandini Singh Sawlani

Soaring Demand for Clean Water: Flocculant and Coagulant Market Set for 5.5% CAGR through 2033

By 2023, the flocculant and coagulant market is expected to be worth US$ 6,738.6 million worldwide. The sales of flocculant and coagulant are anticipated to increase at a compound annual growth rate (CAGR) of 5.5% to US$ 11,510.5 million during the projected period.

The need for water resource treatment has increased as a result of growing industrialization. Also, the market is anticipated to rise during the forecast period due to an increase in demand for chemicals used in municipal water treatment and strict government restrictions governing water consumption for public health. The worldwide flocculant and coagulant market is anticipated to see growing challenges due to rising demand for alternative water treatment methods like RO filtering and UV disinfection.

Throughout the projected period, the market in Asia Pacific is anticipated to develop at the quickest rate. Due to the expansion of industries and the demand for freshwater reserves, there has been an increase in the demand for flocculants and coagulants from the municipal and industrial sectors.

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Key Takeaways

By 2033, the flocculant and coagulant market in the United Kingdom is likely to expand, with a CAGR of 5.2%.
In 2023, the United States is expected to develop the flocculant and coagulant business with a share of 22.6%.
The flocculant and coagulant market grew considerably to US$ 6,387.3 million in 2022.
The flocculant and coagulant industry expanded at a CAGR of 4.8% from 2018 to 2022.
By 2033, the flocculant and coagulant market in China is projected to have a CAGR of 5.7%.
By 2033, India’s flocculant and coagulant industry is projected to expand with a CAGR of 6.5%.
Japan’s flocculant and coagulant sector is likely to grow significantly, with an 8.9% share in 2023.
Australia’s flocculant and coagulant are expected to develop with a share of 6.1% in 2023.
Germany’s flocculant and coagulant business is expected to grow, with a share of 10.9% in 2023.
In 2023, based on type, the inorganic coagulant segment is expected to dominate the market, with a share of 17.8%.
In 2023, the water and wastewater treatment segment is expected to dominate the market, with a share of 33.3%, based on application.

Competitors’ Successful Techniques

The flocculants and coagulants market is highly fragmented and competitive, with a wide variety of local and regional companies. To obtain a competitive edge and increase their market presence, key corporations in this sector use a variety of marketing methods, including mergers and acquisitions, and partnerships.

Recent Development:

Chitosan, a biopolymer composed of seafood waste, was upcycled from crab shells in February 2022 by Tidal Vision, an American producer, and seller of ready-to-use chitosan flocculant, agricultural elicitor uses, and textile treatments. The repurposed chitosan is made into a liquid and utilized to clean rainwater or wastewater. This is accomplished by chitosan and the pollutant’s positive particles coagulating together.
In July 2022, Evoqua Water Technologies purchased EPICOR Inc., a manufacturer of resin & fiber mixture and ion exchange resin that provided its services to the energy industry. This helped the firm extend its portfolio, particularly the integrated services and solution section of the business.

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Top Key players in the Flocculant and Coagulant Market

BASF SE
Ecolab Inc.
Solvay SA
SNF (United Kingdom) Ltd
Cytec Industries Inc.
Akferal
Kemira Oyj
Jayem Engineers
TRIO Chemicals & Allied Products
Yide Chem
Evoqua Water Technologies
SUEZ, Feralco
Tidal Vision

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Nandini Singh Sawlani