Market Research Blog – Page 3533 – New Product Development

Silicon Anode Battery Market Growth Anticipated to Reach US$ 131.6 billion by 2033

Silicon anode batteries represent a groundbreaking advancement in battery technology, offering significant improvements over traditional lithium-ion batteries.

The global silicon anode battery market is likely to be valued at US$ 2.7 billion in 2023. The increasing application of technologically improved silicon anode batteries with high storage capacity across various industries is driving the market growth. FMI projects market is estimated to garner US$ 131.6 billion in 2033, recording a CAGR of 47.5% from 2023 to 2033.

Start-Up Ecosystem

Established in 2016, Leydenjar has emerged as a pioneering force in the realm of silicon anode technology for lithium-ion batteries. Leveraging their expertise, Leydenjar specializes in the development of pure silicon anodes renowned for their exceptional energy density, boasting up to 50 percent greater capacity than conventional lithium-ion battery cells. Presently, the company is focused on fine-tuning the commercial thickness of their anodes and optimizing compatibility with superior electrolytes, while rigorously testing their technology in pouch cells to achieve 100 cycles of reliable performance.

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Silib, established in 2018, has carved a niche for itself as a leading provider of silicon anodes tailored for lithium batteries. Distinguished by their high capacity and ultra-thin durability, Silib’s silicon anodes are engineered to meet the evolving demands of the energy storage industry. Notably, Silib prides itself on its low-cost manufacturing process, which eschews the use of catalysts and silicon alloys, ensuring cost-effectiveness without compromising on performance or quality.

Similarly founded in 2018, Ecellix specializes in silicon-based anode technology designed to enhance the charging speed and lifespan of lithium batteries. Through their innovative solutions, Ecellix aims to address the pressing challenges associated with battery performance and longevity, offering cutting-edge advancements that propel the industry towards a more sustainable and efficient future.

The market players are also emphasizing offering silicon anode batteries with high reliability and high performance. The market is benefiting from partnerships with a high focus on innovation.

In November 2021- Panasonic Corporation and Toyota Motor Corporation – and Nexeon, the company developing advanced silicon materials for next-generation lithium-ion batteries, agreed to extend their funded joint development agreement (JDA). The partners will focus their work on the commercialization of e-mobility applications of lithium-ion batteries.
In May 2022 – Sila, a next-generation battery materials company, today announced the purchase of a facility with more than 600,000 square feet of space located in Moses Lake, WA to be used to manufacture Sila’s breakthrough lithium-ion anode materials at automotive volumes and quality. Powered with hydropower, the facility is located on 160 acres of land close to rail lines for convenient and efficient shipping.
In February 2021- Zenlabs Energy, an advanced lithium-ion cell company, announced that Idaho National Laboratory (INL) has successfully tested over 1,000 charge-discharge cycles from their high-energy Silicon anode pouch cells. Zenlabs is the recipient of $4.8 million, 50% cost share development contract from the United States Advanced Battery Consortium LLC (USABC) to develop low-cost, fast-charge electric vehicle (EV) batteries

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Explore FMI’s Extensive Coverage on Industrial Automation Domain:

Lead Acid Battery Market Analysis: The market valuation is expected to reach US$ 54.3 Billion in 2022. Future Market Insights (FMI) analysis has forecast of this market sales to increase at 5.2% CAGR between 2022 and 2032.

Power Tool Market Growth: The market size is projected to be worth US$ 36.04 billion in 2023. The market is likely to reach US$ 64.5 billion by 2033. The market is further expected to surge at a CAGR of 6% during the forecast period 2023 to 2033.

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 is 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.

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
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Polyethylene Terephthalate Market to Reach US$ 40 Billion by 2032, Driven by Growing Demand Across Industries

Over the forecast period from 2022 to 2032, the global polyethylene terephthalate (PET) market is projected to exhibit a consistent compound annual growth rate (CAGR) of 3.4%. Beginning at US$ 27.1 billion in 2021, the market is anticipated to reach US$ 28.6 billion by 2022. Moreover, by the end of 2032, it is forecasted to burgeon to nearly US$ 40 billion, reflecting sustained growth and increasing demand for PET across various industries worldwide.

Polyethylene Terephthalate popularly known as PET is a thermoplastic polymer resin produced due to the reaction of raw materials such as mono ethylene glycol (MEG) and purified terephthalic acid. This material is known to exhibit exceptional barrier properties towards moisture and water. Polyethylene Terephthalate finds applications across diverse industries such as automotive, food, and beverage packaging, and electronics, among others.

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Challenges Faced by the Polyethylene Terephthalate Industry:

Sustainability Concerns: As environmental awareness grows, there is increasing pressure on industries to adopt sustainable practices. PET, while recyclable, still poses challenges in terms of its environmental impact. Issues such as the accumulation of PET waste in landfills and oceans, as well as the carbon footprint associated with its production, necessitate innovative solutions for sustainable PET production and recycling.
Raw Material Price Volatility: The PET industry heavily relies on raw materials such as ethylene glycol and terephthalic acid, the prices of which are subject to fluctuations due to factors like geopolitical tensions, supply chain disruptions, and changes in demand. Managing these price volatilities is crucial for maintaining profitability and competitiveness in the market.
Regulatory Compliance: Stringent regulations pertaining to product safety, food contact materials, and environmental standards pose compliance challenges for PET manufacturers. Adhering to these regulations often requires significant investments in research and development, as well as modifications to manufacturing processes, to ensure adherence to quality and safety standards.
Competition from Alternative Materials: PET faces competition from alternative materials such as glass, aluminum, and other plastics in various applications. Each material offers unique properties and benefits, challenging PET manufacturers to continuously innovate and differentiate their products to remain competitive in the market.
Technological Advancements: Rapid advancements in technology, including polymer science and manufacturing processes, present both opportunities and challenges for the PET industry. Adopting new technologies can enhance product quality, increase production efficiency, and reduce costs. However, staying abreast of these developments requires substantial investments in research and development, as well as skilled workforce training.

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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Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
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Probiotic Supplements Market Overview and Growth Analysis Expected to Grow 13% by 2033 | FMI

Probiotic Supplements Industry — Probiotic Supplements Market

According to comprehensive research by Future Market Insights (FMI), the global probiotic supplements market is poised for substantial growth, with an estimated value of US$ 7,078.1 million in 2023, projected to reach US$ 23,977.9 million by 2033 at an impressive CAGR of 13.0%. Probiotics, comprising yeasts and live bacteria, promote healthy digestion and play a vital role in maintaining the balance of ‘good’ bacteria in the gut. The market’s growth is fueled by increasing awareness of digestive health benefits and the prevalence of digestive disorders globally.

Demand Drivers:

The market has experienced a robust CAGR of 13.7% between 2018 and 2022, driven by factors such as the rising prevalence of digestive disorders and the availability of diverse probiotic supplements across multiple sales channels[1]. Probiotic supplements are gaining popularity for managing conditions like diarrhea, irritable bowel syndrome (IBS), lactose intolerance, urinary tract infections, and gum disease.

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Growing Factors:

Manufacturers are focusing on product differentiation to strengthen their positions in a market that is heading towards saturation. Innovative branding initiatives, product packaging sophistication, and catering to specific consumer preferences, such as offering probiotic supplements in fruit flavors and animal shapes, are crucial for market success.

Key Takeaways

The estimated market value in 2022 was approximately US$ 7,078.1 million, with a projected valuation of US$ 23,977.9 million by 2033.
The top players held a share of about 54.4% in 2022.
The market experienced a robust CAGR of 13.7% between 2018 and 2022.
The 13.0% CAGR from 2023 to 2033 reflects a marginal decrease in market acceleration.
India is predicted to emerge as a prominent market for probiotic supplements, with a CAGR of 10.6% from 2023 to 2033, driven by the country’s position as the world’s top milk produce

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“Players in the global market for probiotic supplements are also focusing on developing prebiotics and postbiotics. Both prebiotics and postbiotics are aimed at maintaining proper probiotic levels for extended periods. Several companies are also combining prebiotics and probiotics in products known as synbiotics.”-Says Nandini Roy Choudhury, Client Partner at Future Market Insights

Who is Winning?

Investors in the B2B industry should closely monitor the dynamic probiotic supplements market, which is poised for substantial growth. With an estimated market value of US$ 23,977.9 million by 2033 and a diverse range of products catering to various health conditions, the market offers promising opportunities for investment and expansion

Leading players in the market right now include Goerlic Pharma, Church & Dwight Co.Inc., BioGaia AB., The Clorox Company, DR. WILLMAR SCWABE GROUP, DuPont de Nemours, Inc., i-Health, Probi AB., Inc., Jarrow Formulas, Sanofi., Lifeway Foods, Inc., NOVA Probiotics, PharmaCare Laboratories, Natural Factors, Inc., and Total Nutrition, Inc.

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Probiotic Supplements Market by Category

By Bacteria:

Lactobacillus
Streptococcus
Bifidobacterium

By Form:

Tablet
Capsules
Liquid
Powder Premixes
Gummies/Chewable
Lozenges
Liquid & Gels

By Function:

Immunity & Digestive Health
Urogenital Health
Vaginal Health
Urinary Tract Infections
Pregnancy
Weight Management

By Distribution Channel:

Hypermarket/ Supermarket
Specialty Stores
e-Commerce
Pharmacy Stores

By End User:

Women
Seniors
Kids

By Region:

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

About Future Market Insights (FMI)

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

Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Hearing Implants Market is projected to achieve a size of US$ 2,937.9 million by 2033

The global hearing implant market is poised to experience an unprecedented surge in demand, according to the latest market research report. Projections indicate a remarkable growth trajectory, with estimations soaring from a valuation of US$ 1,402.1 million in 2023 to an impressive US$ 2,937.9 million by 2033. This surge is expected to be driven by a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period.

The surge in demand for hearing solutions is attributed to several factors, including advancements in implantable technologies and an increasing awareness of hearing health. This trend signifies a significant shift in the approach towards addressing hearing impairments, emphasizing the importance of innovative solutions to enhance the quality of life for individuals with hearing challenges.

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The burgeoning market for hearing implants reflects a transformative phase in healthcare, where technological innovations are revolutionizing accessibility and quality of life for individuals with hearing disabilities. As the prevalence of hearing loss continues to rise globally, the market’s expansion showcases a commitment to addressing this vital aspect of public health.

Why do Patients prefer Hearing Implants?

Patients prefer hearing implants for various reasons, including:

Improved Hearing Quality: Patients can improve their hearing capabilities by increasing the adoption of hearing implants, including bone-anchored and cochlear systems. These devices help stimulate the ear’s inner part and enhance sound quality and auditory nerve.
Enhance Communication: Hearing implants play a significant role in enhancing communication abilities. Patients can be easy to understand speech, engage, and understand nuances.
Broadened Auditory Range: Hearing implants are broadened that provide high-quality frequency sounds and environmental cues. Patients enhance their listening experiences by enjoying music and appreciating subtle sounds.
Adaptability to Different Environments: Hearing implants are flexible for listening and to adapt different environments. These implants are electronic devices, and few are connected with wireless connectivity.
Long-term Benefits: Hearing implants are durable, flexible, comfortable, and long-lasting. These implants are consistent and reliable and reduce device replacements for a long time.
Personal Preference: Patients prefer hearing implants as per their choices, better experiences, and enhanced hearing capacities. They are easily portable and wearable, increasing the adoption of hearing implants.

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Key Takeaways:

In the historical period, the market captured a valuation of US$ 1,305.5 million with a CAGR of 6.8% in 2022.
The United States is registering a share of 23.7% in the global market by 2033.
With a share of 6.1%, Germany is significantly driving the global market during the forecast period.
Japan is estimated to surge the global market by capturing a share of 6.5% by 2033.

How are Key Players Adding Value in the Global Market?

Key players are innovating improved products in the global market by investing heavily in research and development activities. These players are developing products per consumers’ requirements by adopting advanced technologies. They are adopting several marketing tactics to expand the global market: mergers, acquisitions, partnerships, collaborations, and product launches.

Market players launch new products and educate their customers in seminars, tread shows, and exhibitions. They are promoting their products online and offline to attract more customers, increase sales, and build trust among their customers. They are estimated to continue to fuel the global market at another height in the coming period.

Recent Developments in the Global Market are:

In August 2021, Cochlear launched its new product, Nucleus 7 Sound Processor, with advanced sound processor technology for patients.
In April 2021, Advanced Bionics launched its new product Naida CI Marvel Sound Processor. This product offers wireless connectivity, improves sound quality, and provides better compatibility.
In June 2021, Oticon Medical launched its new product Ponto 4. It is one of the smallest bone-anchored sound processors that enhances hearing outcomes.

Other Essential Players in the Global Market:

Cochlear Limited
MED-EL
Advanced Bionics
Oticon Medical
MEDTRONIC
Demant Holding Group
Sivantos Pte. Ltd.
Nurotron Biotechnology Co., Ltd
Widex A/S
Starkey Hearing Technologies

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Key Segments Covered in Hearing implant Market Study: By Product Type:

Cochlear Implants
Middle Ear Implants
Bone conduction Implants
Auditory brainstem implant

By End User:

Hospitals
ENT clinics
Ambulatory Surgical Centres

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding China and Japan (APECJ)
Japan
China
Middle East & Africa (MEA)

About Future Market Insights (FMI)

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

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Nandini Singh Sawlani

Shisha Tobacco Market: Expected Growth at a CAGR of 4.0% by 2033 Revealed in Latest Market Insights

Newly released data from Future Market Insights (FMI) reveals that the shisha tobacco market is valued at approximately US$ 2,909.4 million in 2023, with projections indicating a climb to around US$ 4,306.6 million by 2033. This growth is anticipated to be driven by a compound annual growth rate (CAGR) of 4.0% from 2023 to 2033. As shisha culture continues to gain popularity worldwide, coupled with evolving consumer preferences and an expanding market presence, the shisha tobacco industry is poised for steady advancement over the forecast period, according to the latest industry insights.

This day, large numbers of shisha bars and lounges invade the market. This requires a large demand for different types of flavored tobacco goods. The flavours that are accessible at this stage include herbal, floral and dessert.

Shisha which is also referred to hookah (or water pipe tobacco) includes production, distribution and consumption of flavored cigarettes. It does however claim a long history across several continents notably in Asia, Africa and Middle East.

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An interesting thing to note over here is that various flavors offered through shisha molasses render shisha tobacco an attractive product, particularly for the ones who want to quit smoking. Aesthetics has also got to play a vital role over here. In other words, hookah apparatus is designed such that it has a visually attractive appeal. This another factor keeping the hopes high for shisha tobacco market going forward.

There is another reason for the shisha tobacco market growing at an exponential rate. The consumers who are focusing on cutting down on cigarettes are getting to hookah smoking. They carry the impression that majority of nicotine is absorbed by water during such sort of smoking. However, when there would be an upsurge in awareness regarding the fact that shisha tobacco smoking is all the more injurious than cigarette smoking, the tables would turn.

Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Shisha Tobacco Market’. It has its team of analysts and consultants to look through the bottom-up approach in its primary, secondary, and tertiary modes of research.

“Demand for flavored tobacco products is expected to take the shisha tobacco market by storm in the forecast period”, says an analyst from Future Market Insights.

Business Growth Drivers:

Increasing Popularity: Shisha smoking has gained popularity worldwide, not only in traditional markets like the Middle East and North Africa but also in Western countries. This growing trend contributes to the expansion of the shisha tobacco market.
Social Acceptance: Shisha smoking is often considered a social activity, enjoyed in cafes, lounges, and gatherings. The social aspect of shisha smoking drives demand among various demographic groups, including young adults and tourists.
Flavor Innovation: Manufacturers are constantly innovating to introduce new and exotic flavors, catering to diverse consumer preferences. This flavor innovation attracts both existing and new consumers, stimulating market growth.
Rising Disposable Income: Increasing disposable income in emerging economies enables consumers to spend more on recreational activities like shisha smoking. This economic factor fuels demand and market expansion.
Expansion of Shisha Bars and Cafes: The proliferation of shisha bars, lounges, and cafes across different regions provides convenient access to shisha smoking experiences, further driving market growth.
Online Retailing: The rise of e-commerce platforms facilitates the sale of shisha tobacco products, offering consumers a convenient way to purchase a wide range of flavors and accessories, thereby boosting market growth.

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Key Takeaways from Shisha Tobacco market

North America holds a significant market share with the US being home to several manufacturers like Tangiers, Fumari Hookah, and likewise. Also, organizations are into progressive diversification of shisha tobacco products like hookah and hookah parts, coal, flavors; which does facilitate customers with one-stop shopping destination for the smoking products.
Europe holds the second-largest market share with the UK witnessing an ever-increasing demand for local varieties in terms of flavor. Also, it has been observed that customers get more drawn toward new flavors if they could be well-related to; thereby growing in sales.
The Asia-Pacific is expected to grow at a rapid pace in the shisha tobacco market with China being the biggest contributor. Also, the flourishing tourism sector in India and China does attract several individuals every single year. Additionally, there are stern laws enacted in the country regarding not letting individuals smoke in the public areas; which, in turn, would accelerate the sales of hookah equipment for commercial (HoReCa and bars) as well as residential sectors.
MEA is another region driving the shisha tobacco market with a major chunk of population into shisha tobacco smoking.

Competitive Shisha Tobacco

Al Fakher Tobacco Trading, in 2022, did expand offering with respect to travel retail through launching Double Kick, that too, Dubai Duty Free. This line does feature 3 initial flavors inclusive of Grape & Mint, Mint, and Two Apple. Every flavor is available in the novel 200g format.
Gulbahar Tobacco International, in 2020, did tie up with JC Decaux for launching one of the biggest marketing campaigns inside Dubai airport. This campaign does feature Milano fan pack (its prominent pack).

Key Players Are:

FUMARI
Haze Tobacco
Al Fakher Tobacco Factory
SOCIALSMOKE
Japan Tobacco Inc.
SOEX
Prince Molasses
Romman Shisha
Mazaya
Ugly Hookah
Cloud Tobacco
Flavors of Americas S.A.
Al Amir Tobacco
STARBUZZTOBACCO.
Nakhla
MujeebSons
Godfrey Phillips India Ltd.
The Eastern Company
ALWAHA-TOBACCO
Others (As per Request)

What does the Report Cover?

The research study is based on product type (strong shisha tobacco, mild shisha tobacco, and light shisha tobacco), by flavor (fruit, chocolate, caramel, mint, blended, and likewise), and by sales channel (direct sales, supermarkets/hypermarkets, specialty stores, convenience stores, online retailers, and other sales channels).
With shisha lounges and bars getting popular, the global shisha tobacco market is expected to witness grandeur in the forecast period.

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Global Shisha Tobacco Market by Category

By Product Type:

Strong Shisha Tobacco
Mild Shisha Tobacco
Light Shisha Tobacco

By Flavor:

Fruit
Berry
Apple
Melon
Citrus
Tropical
Others
Chocolate
Caramel
Mint
Blended
Others

By Sales Channel:

Direct Sales
Hypermarket/Supermarkets
Specialty Stores
Convenience Stores
Independent Small Stores
Online Retailers
Other Sales Channel

By Region:

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

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

Epoxy Paints Market to Reach US$ 36.38 Billion by 2032, Driven by Versatility and Sustainability

The global epoxy paints market is poised to experience steady growth with a projected stable Compound Annual Growth Rate (CAGR) of 5% between 2022 and 2032. This growth can be attributed to the inherent versatility of epoxy paints, which enables their wide application across various industries and surfaces. From automotive coatings to industrial floorings, epoxy paints offer durable and resilient solutions, thereby driving sales and market expansion. This versatility not only fosters innovation but also enhances the appeal of epoxy paints among consumers and industries alike, fueling sustained growth in the market.

Epoxy resins that are available in market are known as epoxy paints used for painting and coating building walls or floors. Being one of the most versatile compounds, Epoxy resins are widely used in the Orth phthalic and polyester family. These are also known as poly epoxides, which belong to the category of reactive prepolymers and polymers that contain the epoxide group.

Epoxy resins react with themselves or with other co-reactants which include phenols, acids, alcohols, polyfunctional amines, and thiols among others. Petroleum is the raw material required to industrially manufacture epoxy resins. Some of the plant-derived sources are gaining traction in manufacturing epoxy resins. Epoxy resins are polymeric or semi-polymeric materials and thus, are rarely exist in their pure state.

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Key Takeaways

Epoxy paint derived from epoxy resin has managed to occupy a large space in the building and construction Industry as the owners are choosing it for being the best floor paint material. It is mostly used in garage floor paint and epoxy pool paint.
Epoxy resins attribute to their excellent electrical, mechanical, and heat resistance properties. The epoxide content in the epoxy resins is the most crucial factor which determines the characteristics of epoxy paints. Different grades of epoxy resins are usually blended with various additives, plasticizers, and fillers to get the desired paint quality.
Epoxy resins incorporate a wide range of applications in paints and coatings, electrical and electronic components, and structural adhesives manufacturing industries. The paint and coatings industry is one of the major applications of the epoxy paint market.
The surging population combined with changing lifestyles is anticipated to boost the overall growth of the construction industry. The growing construction industry is expected to augment the growth of the paints and coatings industry. The paints and coating industry is expected to further grow owing to the rising demand from the automobile industry.
Demand for high-end luxury automobiles is surging which is further expected to enhance the overall growth of the paints and coatings industry. Therefore, the growing paints and coatings industry is expected to drive the overall growth of the epoxy paint market. Epoxy resins are widely used by the paints and coating industry on heavy-duty metal substrates.
Furthermore, paints and coatings consist of epoxy resins which are known to use less energy as compared to other heat-cured powder coatings. In addition to that, paints and coatings containing epoxy resins are also considered more environmental friendly than other chemicals.

Key Players in the Epoxy Paints Market

Momentive Performance Materials
Kukdo Chemical
Huntsman Corporation
The Dow Chemical Company
Cytec Industries Incorporation
Aditya Birla Chemicals Ltd.
NAMA Chemicals
LEUNA-Harze GmbH
Spolchemie A.S.

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More Insights into the Epoxy Paints Market

Asia Pacific market is considered the largest manufacturer of epoxy resins owing to the presence of large manufacturers in China. The presence of many manufacturers coupled with their huge production capacities is expected to boost the overall growth of the epoxy paint market.

Europe is yet another emerging market in the global sphere accounting for major consumers in the market. The demand for epoxy resins is gradually growing in North America due to the increase in demand for epoxy paint as the flooring material in living spaces.

The environmentally friendly features of epoxy resins are further expected to augment the overall demand in the market. Therefore, the growing consumer awareness of environment-friendly products coupled with the presence of stringent environmental regulations is expected to further boost the overall growth of the 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.

Contact Us:

Nandini Singh Sawlani

Surgical Stapling Device Market Targets US$ 5,930.60 Million by 2033

By 2023, the surgical stapling devices market share is expected to be valued US$ 3,977.40 million. The market research analysis forecasts a growth of US$ 5,930.60 million by 2033. A compound annual growth rate (CAGR) of 4.10% is predicted for surgical stapling equipment sales throughout the forecast period.

As cutting-edge technologies become more widely used, medical professionals will continue to use specialised equipment to help with particular surgical procedures. An increase in invasive surgical procedures has made better wound management tools necessary. Additionally, for closing wounds after such treatments, surgical staples have successfully replaced sutures.

Future Market Insights recently published its report on the global market for surgical stapling devices, the highlights from which indicate that rising number of laparoscopic surgeries performed across the globe have triggered the use of surgical stapling devices.

The surgical stapling devices market has witnessed significant growth in recent years, driven by advancements in medical technology and an increasing number of surgical procedures worldwide. Surgical stapling devices are widely used in various surgical specialties, including general surgery, thoracic surgery, and gastrointestinal surgery, among others. These devices offer several advantages over traditional sutures, such as faster closure, reduced tissue trauma, and improved healing outcomes. As healthcare providers continue to prioritize minimally invasive techniques, the demand for surgical stapling devices is expected to persist and expand across different medical fields.

The competitive landscape of the surgical stapling devices market is characterized by the presence of key players striving to innovate and introduce cutting-edge technologies. Companies are focusing on developing stapling devices with enhanced precision, ergonomic designs, and improved safety features. Additionally, efforts are being made to expand product portfolios to cater to a broader range of surgical applications. As the global healthcare industry evolves, the surgical stapling devices market is likely to witness ongoing research and development activities, fostering further innovation and advancements in this critical medical technology sector.

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Leading Manufacturers of Surgical Stapling Devices:

Medtronic plc
Grena Ltd.
Purple Surgical Holdings Limited
Dextera Surgical Inc.
Johnson & Johnson Services, Inc.
3M Company
Meril Life Sciences Pvt. Ltd.

The report reveals that hospitals will remain the largest end-users of surgical stapling devices in the world – accounting for more than 60% of global revenues. Meanwhile, the demand for surgical stapling devices will also gain traction in ambulatory surgical centres. Key findings in the report indicate that powered surgical stapling devices worth US$ 1,182 Million were sold globally in 2016, while the demand for manual surgical stapling products is anticipated to incur a downtrend in the years to come.

Throughout the forecast period, six out of ten surgical stapling devices sold in the world are likely to be disposable, while revenues from reusable surgical stapling products will be growing at a sluggish rate. Preference to curved surgical stapling is also on a rise, revenues from which are expected to soar impressively at 9% CAGR.

Dermatological surgeries will undoubtedly require greater number of surgical stapling devices. The report estimates that in 2016, nearly US$ 600 million revenues were amassed from the sales of surgical stapling devices in treatment of skin-related surgical wounds. The use of advanced surgical stapling devices is also expected to gain momentum for closing dissected or ruptured blood vessels during surgeries. Wounds situated in the patient’s digestive tract are also being treated by surgical stapling, and by the end of 2026, around US$ 665 million worth of devices will be consumed for such treatments.

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We have segmented the global surgical stapling devices market into six sections. They are as follows: By Region

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

By End User

Hospitals
Ambulatory Surgical Centres
Others

By Stapling Type

Straight
Curved
Circular

By Usage Type

Disposable Surgical Stapling Devices
Reusable Surgical Stapling Devices

By Indication

Skin
Digestive Tract
Blood Vessels
Hernia
Lungs
Others

By Product

Powered Surgical Stapling Devices
Manual Surgical Stapling Devices

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

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IQF Vegetables Market: A Growing Investment Opportunity with a Projected Growth to US$ 2.81 Billion by 2033

The IQF vegetable market has witnessed a remarkable ascent, reaching an estimated value of US$ 1.68 billion in 2022 and projecting an even more impressive figure of US$ 2.81 billion by 2033. This surge is attributed to evolving lifestyles, changing eating habits, and the expansion of major retail chains. The industry’s robust growth is fueled by the rising demand for frozen meals, with IQF technology playing a pivotal role.

IQF, or Individual Quick Freezing, is a technique that ensures faster and improved freezing, maintaining the flavor and texture of vegetables. The extended shelf life of IQF vegetables, ranging from weeks to months, adds to their allure, driven by the convenience-seeking consumer base. Technological advancements have become a key trend, with major players focusing on innovation to enhance market positions.

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The market’s demand is primarily driven by the longer shelf life of IQF vegetables. IQF and BQF (cold storage) technologies allow safe storage, influencing the surge in frozen food demand globally. Consumers, seeking convenience and hygienic vegetable options, are turning to IQF items that eliminate the hassles of cleaning and slicing, aligning with the fast-paced modern lifestyle.

Key Takeaways from the Market Study

From 2018 and 2022, the worldwide IQF vegetable market grew at a CAGR of 3.1%.
In the IQF industry, potato is the most popular vegetable type, with a controlling share of more than 26.2% in 2023.
Food items containing IQF veggies are predicted to account for more than 76.4% of the market in 2033.
In 2022, the US market for IQF vegetables will be worth $479.5 million.
With an estimated volume of roughly 878 MT in 2022, the United Kingdom is one of Europe’s top markets for IQF vegetables.

“The main factors driving the market for IQF vegetables are consumers’ rising preferences for frozen goods, their curiosity about novel concepts, and their enthusiasm to sample foods with various nutritional profiles,” remarks an FMI analyst.

Competitive Landscape

Technologies are being developed by businesses to enable the introduction of before undiscovered fruits and vegetables that can maintain their nutritional content while lowering manufacturing costs. A growing number of businesses, including Capricorn Food Products India Ltd., Dole Food Co., and J.R. Simplot Co., are making investments in developing innovative IQF vegetable products.

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Prominent players in the IQF vegetables market are:

B&G Foods Holdings Corp.
Capricorn Food Products India Ltd
ConAgra Foods Inc.
Dole Food Co.
Greenyard NV
R. Simplot Co.
Kerry Group Plc.
Pinnacle Foods, Inc.
SunOpta Inc.
Uren Food Group Limited

Some key developments of the leading companies in this market are:

In 2022, TOMRA, a supplier of technology-driven solutions for sophisticated collecting and sorting technologies and food processing with headquarters in Norway, introduced TOMRA 5C, a high-end produce sorting machine using BSI technology. Precision frozen vegetable sorting is made possible by the machine’s innovative design, which features one-of-a-kind high-resolution lasers combined with biometric signature identification (BSI) technology. The system compares good and poor materials using BSI technology and even detects minor flaws.
In May 2022, Growers Express, LLC’s frozen vegetable production activities were purchased by B&G Foods, Inc., a US-based manufacturer of premium, branded easily stored and frozen foods, for an undisclosed sum. B&G Foods and Growers’ combined resources should improve innovation initiatives and speed to market through this transaction. Revolutionary frozen vegetable product maker, producer, and retailer Growers Express, LLC is situated in the United States.

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More Valuable Insights Available

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

To understand opportunities in the IQF vegetables market, the market is segmented on the basis of IQF vegetables by type (potato, onion, tomato, carrot), application (food, beverage, concentrate) and across five major regions (North America, Latin America, Europe, Asia Pacific 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 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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Toy Kitchens and Play Food Market Set to Flourish by 2031: Exploring Trends and Growth Drivers

The global toy kitchens and play food market experience significant momentum fueled by the rising desire for kitchen sets, particularly among young girls. Additionally, the expanding presence of social media platforms has become instrumental in introducing children to new toys, driving heightened user engagement and ultimately contributing to the flourishing kitchen toy market.

The global toy kitchens and play food market is expected to grow at a remarkable CAGR between 2021 and 2031.

Skill-building toys are amongst the best courses of keeping the children engaged during free time. The toy kitchen and play food sets do help in building chefs of literally every age group. The kids thus obtain knowledge regarding food and end up enjoying cooking it.

The likelihood of children developing a liking for cooking food through toy kitchens and toy food can’t be ignored. Children do become waitresses, chefs, pizza makers, waiters, daddies, mummies, and several things in between through these games.

Additionally, an exponential penetration of the social media platforms wherein kids get to know regarding novel toys in the market is playing a vital role in growth of toy kitchens and play food market and the status quo is expected to remain unchanged even going forward.

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Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘Toy Kitchens and Play Food Market’. It has its indigenous team of analysts and consultants to execute using a bottom-up approach in its primary, secondary, and tertiary modes of research.

“With parents looking upon kitchen set as a durable toy, the global toy kitchens and play food market is expected to grow on a good note in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from Toy Kitchens and Play Food Market

North America holds the largest market share with the US being subject to higher demand on the part of pre-school toys. Also, it has been found that children based out of Canada go for toys like doctor kit, kitchen set owing to belief that they would help them obtain more intelligence and knowledge; thereby resulting in an augmented demand. Also, players are launching smart kitchen sets abreast with a broad spectrum of kitchens inclusive of utensils and various other accessories. Plus, these kits are a good alternative to smartphones as far as children’s toys are concerned.
Europe holds the second-largest market share on the similar grounds as stated above. The Asia-Pacific comes in as ‘third’ in line.

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Competitive Analysis

The key participants in toy kitchens and play food market include Hamleys, Bohemian Mama, Hey! Play!, Teamson, Inter IKEA Systems B.V., Little Tikes, Melissa & Doug, KidKraft, TP Toys, Smyths Toys, Hape Toys, and likewise.
The key players are into various modes of expansion like new product launches, mergers, acquisitions, partnerships, joint ventures, and likewise for staying afloat in the toy kitchens and play food market.

What does the Report state?

The research study is based on size (corner play kitchen, large play kitchens, and toddler play kitchens), and by distribution channels (direct sales, supermarkets/hypermarkets, specialty stores, online retailing, and likewise).
Call for enjoyment while learning cooking (especially for children) is expected to take the toy kitchens and play food market by storm in the forecast period.

Key Segments

By Size:

Corner Play Kitchen
Large Play Kitchens
Toddler Play Kitchens

By Distribution Channels:

Direct Sales
Hypermarkets/ Supermarkets
Specialty Stores
Online retailing
Others

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

Combi Ovens Market Demand: Industry to Rise at US$ 5.8 billion by 2033

Combi ovens, also known as combination ovens or combi steamers, are versatile cooking appliances widely used in professional kitchens and food service establishments. These ovens combine the functionality of convection ovens, steamers, and sometimes even grills or smokers into a single unit, offering a range of cooking methods in one machine. Here’s an overview of combi ovens:

The global combi ovens market is worth US$ 1.81 Bn as of now and expected to reach US$ 3.31 Bn by the year 2027 at a CAGR of 10.7% between 2022 and 2027.

Restaurants could benefit a great deal with combi ovens. The chef would be able to maintain the same standards repeatedly through self-programmed or pre-programmed cooking processes. So, the restaurants need not worry even if staff changes on frequent basis.

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Energy-efficient appliances are witnessing a substantial demand since the last few years, which has actually spurred the combi ovens market and the scenario is expected to remain the same even in the forecast period.

Convection (circulation of dry heat) is used for baking bread/roasting meat. The end-consumers are increasingly adopting the change in technologies to ascertain a simple life. Social media is also playing its part. The end-consumers are getting highly influenced by the advertising campaigns and reviews posted on these channels.

There are smart combi ovens doing the rounds due to higher degree on the part of technology and user-friendliness. Connectivity is the distinguishing feature (analogous to smart kitchen appliances). Numerous technologies are being integrated in combi ovens, which is expanding designing of the advanced cooking products as a response to growing demand for consumers’ convenience.

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Key Takeaways from Combi Ovens Market

North America holds the largest market share with the US leading in bakery/confectionery businesses.
The Asia-Pacific is expected to grow at the fastest rate in the combi ovens market with premium hotels and restaurants booming.
Europe is expected to continue with its winning streak due to the major players present in this region.

Competitive Ovens

Alto-Shaam Inc. has its self-cleaning rotisserie oven, which does feature various time-saving options inclusive of grease collection, automatic cleaning, and touchscreen controls.
Giorik’s Easyair Combi Oven does accept data through USB port for pre-set temperature of up to 99 degree Celsius.
Rational, in August 2020, did announce launching iCombi Pro all across the US.
Alto-Shaam Inc. has expanded the Vector Series Multi-Cook Oven Line abreast with F Series full-size electric models, which have been designed for fitting full-size pans and let operators combine oven chambers for accommodating taller foodstuff.

Global Combi Ovens Market by Category

By Product Type, the Global Combi Ovens Market is segmented as:

Steam Generated
Boilerless

By Power Unit, the Global Combi Ovens Market is segmented as:

Gas
Electric

By Capacity, the Global Combi Ovens Market is segmented as:

Low
Medium
Heavy

By End-use, the Global Combi Ovens Market is segmented as:

Hotels & Restaurants
Bakery Stores
Retail Outlets
Domestic & Institutional
Commercial Kitchens

By Region, the Global Combi Ovens Market is segmented as:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa

Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape:

Synchronous Condenser Market Size: Rising adoption of synchronous condenser from diverse end-use industries, the overall market is anticipated to rise at robust CAGR of 8.2% between 2022 and 2029, totaling a valuation of US$ 1.76 Bn by 2029.

ASEAN Safety Sensors and Switches Market Share: The safety sensors and switches market in ASEAN countries is estimated to be worth around US$ 891 Mn in 2022, the overall market is anticipated to grow at an impressive CAGR of 10.2% between 2022 and 2028, reaching a valuation of US$ 1.59 Bn by 2028.

Electrical Digital Twin Market Growth: The global Electrical Digital Twin Market growth is predicted to rise at a robust CAGR of 12%, from US$ 900 Mn in 2021 to US$ 3.13 Bn by 2032.

Biocomposites Market Demand: The global biocomposites market size reached over US$ 25 Bn in 2021 and is expected to grow at an incredible CAGR of 16% during the forecast period between 2022 and 2032

High Pressure Processing Equipment Market Analysis: The global high-pressure processing equipment market size is anticipated to surpass the value of USD 430 Mn while recording a CAGR of 12.3% in terms of volume from 2016 and 2026, and at a value CAGR of 13.7% during the same time period.

Stacker Crane Market Forecast: The global stacker crane market size reached a valuation of US$ 976 Million in 2021 and is likely to touch a valuation of US$ 1 Billion in 2022. Overall, sales of stacker cranes are projected to grow at a CAGR of 7.0%, totaling around US$ 2.02 Billion by 2032.

Industrial PC Market Size: The global industrial PC market size reached US$ 5 Bn in 2021 and is forecast to grow at a healthy CAGR of 6% during the forecast period between 2022 and 2032, surpassing a valuation of US$ 9.4 Bn by the end of 2032.

Global Hydraulic Cylinder Market Growth: The global hydraulic cylinder market is predicted to grow at a moderate CAGR of 4.2% between 2022-2032, reaching nearly US$ 22.3 Bn by 2032 from US$ 14.2 Bn in 2021.

Hydronic Underfloor Heating Market Share: The hydronic underfloor heating market is expected to increase at a 6% CAGR from an anticipated USD 4.24 billion in 2022 to USD 7.59 billion by 2032.

Vision Guided Robots Market Demand: The global vision guided robots market is projected to secure a CAGR of 7.8% during the forecast period, and attain a value of US$ 27,238.3 million by 2032. The current valuation of the market stands at US$ 12,810.0 million in 2022.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact:

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