Market Research Blog – Page 3564 – New Product Development

Hydrogen Trucks Market: Projected CAGR of 41% Signals Significant Growth Potential, Targeting US$ 119.18 Billion by 2033

According to FMI reports, the global hydrogen trucks market is expected to grow by nearly US$ 3.84 Billion by 2023. This is with a substantial and impressive CAGR of 41% expected over the forecast period, which is projected to reach over US$ 119.18 Billion by the year 2033.

Each of these factors is anticipated to have a sizable impact on the market for hydrogen trucks throughout the projected period. This is due to the fact that hydrogen trucks can completely remove all carbon dioxide and other dangerous pollutants from the atmosphere, helping to preserve the environment.

The global market is impacted by a number of variables, including environmental concerns, government initiatives for hydrogen fuel cell infrastructure, a large initial investment in infrastructure, technological breakthroughs, and future possibilities.

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The popularity of hydrogen trucks may rise as people become more aware of the negative impacts of traffic congestion, air pollution, and greenhouse gas emissions. This is because they are more environmentally friendly than other types of conventional vehicles.

Key Takeaways from the Hydrogen Trucks Market Study

North America dominates the market for hydrogen trucks.
The hydrogen trucks are expected to increase at a notable CAGR of 41%.
Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.
Hydrogen fuel cell forklifts have become more popular as people increase awareness regarding environmental issues, government initiatives, and increasing concern about cost-effectiveness.

Competitive Landscape for the Hydrogen Trucks Market

Various producers and service providers occupy considerable shares of the global market, including Anglo American Platinum Ltd. and Ares Motor Works. The companies have been successful in acquiring new and long-term contracts from different countries over the years.

Cellcentric GmbH & Co. KG, Dongfeng Motor Corporation, Esoro AG, Beiqi Foton Motor, Cummins Inc., H2X Global, Hyundai Motor Company, Hyzon Motors, Jaguar Land Rover Automotive, Kenworth Trucks, Paccar, Nikola Corporation and others, the market is growing and establishing a strong global presence.

Recent Developments in the Hydrogen Trucks Market

Together, Hyzon and ORTEN’s complementary product lines, as well as ORTEN’s body and powertrain kits, offer customers a complete solution for making their fleets zero-emission. Moreover, ORTEN’s management maintains extensive and permanent contact with customers throughout Germany.
An investment of $2.3 million will be made in the Alberta Zero-Emissions Truck Electrification Collaboration (AZTEC) project by the Jr. Minister of natural resources, Seamus O Regan. A consortium of project partners, including the Hydrogen Technology and Energy Corporation, Bison Transport, and Canadian Energy Systems Analysis Research, led this project.

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Hydrogen Trucks Market by Category

By Product, the Hydrogen Trucks Market is Segmented as:

Heavy Duty trucks
Medium Duty Trucks
Small Duty Trucks

By Application, the Hydrogen Trucks Market is Segmented as:

Logistics
Municipal

By Range, the Hydrogen Trucks Market is Segmented as:

Above 400 Km
Below 400 Km

By Region, the Hydrogen Trucks Market is Segmented as:

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

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Global Zero Emission Vehicle Market Projected to Reach US$ 2.38 Trillion by 2033 with 25.4% CAGR

The global zero emission vehicle market is valued at US$ 248 billion as on 2023. The market is expected to grow at a CAGR of 25.4% during the forecast period, and is anticipated to reach a valuation of US$ 2,384.66 billion by 2033.

One of the key factors that has led to an increase in the demand for zero emission vehicle is the fact that these do not emit harmful gases. Thus, the governments worldwide have started incentivising consumers who make use of the zero emission vehicles.

Apart from that, the noise generated by the zero emission vehicles is much less as compared to traditional fuel-based cars, which might as well increase their sales during the forecast period.

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Moreover, a lot of zero emission vehicles run on electricity, which is a renewable source of energy, unlike the fuel-based vehicles, which are typically non-renewable source of energy. Therefore, the manufacturers are of the view that the production of electricity of much easier as compared to fuels, which takes millions of years in order to form.

Apart from that, the automobile manufacturers who were into manufacturing fuel-based vehicles are gradually transitioning towards zero emission vehicles. Furthermore, the manufacturers are also carrying out intense marketing campaigns to convey the benefits of these vehicle, which would have a positive impact on zero emission vehicle adoption trends.

Furthermore, on comparing with the fuel-based cars, the operational cost of zero emission vehicle is almost one-tenth the price of the fuel-based counterparts. This might as well increase the market share of zero emission vehicle.

Thus, from the insights provided by FMI researchers, it can be concluded that “the ability to contain air and noise pollution, coupled with increasing government initiatives to tackle pollution, and a number of other factors are expected to surge the zero emission vehicle market growth during the forecast period.”

Key Takeaways:

The zero emission vehicle market is projected to grow at a CAGR of 25.4% during the period 2023-2033.
The market is valued at US$ 248 billion as on 2023.
The market is expected to reach a valuation of US$ 2,384.66 billion by 2033.
North America region is currently the largest market, and has a market share of around 42%.
USA is currently the largest market in North America market, with a share of nearly 58%.
Asia Pacific currently has a market share of 30%, and is expected to be the fastest growing market during the forecast period.
The South Korea zero emission vehicle market is currently driven by key players who are investing in the R&D aspect of the business.
The Japan market is expected to show a considerable growth owing to the subsidies provided by the government.
Europe currently has a market share of 21%, and is expected to be one of the most crucial markets.
Based on the application, the commercial vehicle segment had the highest market share of nearly 50% in 2022.
By price, the mid-price segment had the largest market share of around 73%.

Competitive Landscape

The key players in the zero emission vehicle market are investing huge amounts in the process of mergers and acquisitions. This is done in an effort to lay more emphasis on knowledge sharing and technology sharing. Apart from that, the focus is also on expanding the footprints in order to garner a huge market share.

Some of the recent developments in the zero emission vehicle market are:

In March 2022, Kia Carens received an overwhelming response, and crossed 50,000 mark.
In December 2022, BMW commenced the production of small-series hydrogen powered model.

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Key Companies Profiled

Fiat
Hyundai
BMW
Kia
Chevrolet
Toyota
BYD
Tesla
Nissan
Volkswagen

Zero Emission Vehicle Market Segmentation

By Vehicle Type:

Battery Electric Vehicle,
Plug-in Hybrid Electric Vehicle,
Fuel Cell Electric Vehicle

By Application:

Commercial Vehicle,
Passenger Vehicle,
Two Wheelers

By Price:

Mid-Priced,
Luxury

By Vehicle Drive Type:

Front Wheel Drive,
Rear Wheel Drive,
All Wheel Drive

By Top Speed:

Less Than 100 MPH,
100 to 125 MPH,
More Than 125 MPH

By Source of Power:

Gasoline,
CNG,
Diesel,
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Construction Equipment Maintenance and Repair Market: https://www.futuremarketinsights.com/reports/construction-equipment-maintenance-and-repair-market

ADAS Sensors Market:
https://www.futuremarketinsights.com/reports/adas-sensors-market

Electric Boats Market:

https://www.futuremarketinsights.com/reports/electric-boats-market

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Christiana Corporate, 200 Continental Drive,
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T: +1-845-579-5705

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Railway Draft Gears Market Expected to Reach US$ 3,236.1 Million by 2033, with a 4.5% CAGR

The net worth of the railway draft gears market is expected to increase from US$ 2,083.8 Million in 2023 to more than US$ 3,236.1 Million by 2033. From 2023 to 2033, the market for railway draft gears is projected to grow at a modest CAGR of 4.5%.

The market is probably going to be fueled by ongoing expenditures in railroad line projects and the global growth of train networks. Several domestic and international railroad projects are now in the planning, development, or construction phases, which is encouraging for the market’s future expansion.

Railway draft gears are in high demand in the sector that produces railroad equipment. The rising cost of gasoline internationally is mostly to blame for this increase in demand. Due to this, railroads now account for a greater portion of freight transportation than vehicles do. The sole sources of income in this specific industry are long-term contracts and leases with big railroad companies.

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The rise of a technologically enhanced and open world has expanded the usage of IoT in the railway industry. The rapid adoption of IoT and safety in the rail sector will fuel the market growth during the forecast period.

There will be more chances for OEMs to grow their income streams and global reach as electrified network train lines are expanded and metro project development increases. The development of rail networks in highly populated areas and rising investments in rail infrastructure are only two examples of factors that will support the growth of the railway draft gears industry.

North America accounts for the biggest market share over the projected period. According to the Association of American Railroads, the United States has a top-notch freight rail network, which is the foundation of the country’s economy. Rising consumer demand, improved passenger safety measures, and technical as well as operational developments are the main drivers of the studied market in the region.

KEY TAKEAWAYS

The Chinese railway draft gears market is likely to rise at a CAGR of 5.3% over the forecast period.
Over the forecast period, the German railway draft gears market is expected to have a market share of 5.4%.
The US railway draft gears market is estimated to possess a market share of 18.3%.
The Japanese railway draft gear market is expected to secure a market share of 6.3%
Over the forecast period, the freight wagon segment is projected to hold a market share of 48.4%.

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COMPETITIVE LANDSCAPE

In the railway draft gears market, key players and innovative vendors include Amsted Rail, Oleo, Sigra, Titagarh, Wulf’s Custom Welding, Hydra-Tech International, LAF, Zhuzhou Times New Material Technology(TMT), Salco Products, CRRC, IPS, TESCO, PowerRail and others.

These companies have used a variety of tactics to enhance their market share for railway draft gears. To increase their client base and revenue, they have used both organic and inorganic growth techniques, including new product launches, acquisitions, corporate expansions, and collaborations.

RECENT DEVELOPMENTS

In October 2021, to facilitate the design and performance of rail components, Wabtec Corporation, a leading technology provider for the freight and transit rail industries, established a top-tier international engineering lab in Bengaluru, India. The new structure increases Wabtec’s technological capabilities and houses the business’s largest lab in India.
In February 2019, GE completed the first phase of its merging with Wabtec in return for USD 2.9 million in cash and Wabtec non-voting convertible preference shares.

Key Segments in the Railway Draft Gears Market

By Rail Type:

Locomotive
DMUs
EMUs
Freight Wagon
Others

By Sales:

OEMs
Aftermarket

By Region:

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

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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Automotive Tires Market Share is valued at US$ 503.9 billion as of 2023. The market is expected to grow at a CAGR of 6.6% during the forecast period, and by 2033, the market is expected to reach a valuation of US$ 958.8 billion.

EV Tire Market Size is projected to grow by 26.6% from 2023 to 2033. Also according to the EV tire market analysis report, the market is expected to rise up to US$ 99,884.7 million by 2033.

Europe Automotive Tire Market Growth is projected to reach 108.7 billion by 2033. Over the next ten years (2023 to 2033), automotive tire sales in Europe are set to rise at around 4.8% CAGR.

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Hydrogen Buses Market Set to Soar with 31% CAGR, Valued at US$ 12.6 Billion by 2033

The Hydrogen Buses Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Hydrogen Buses market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Hydrogen Buses. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The Hydrogen Buses Market is predicted to grow at an astronomical CAGR of 67% over the forecast period, according to research by Future Market Insights. The industry’s estimated value is expected to increase from US$ 8.45 Billion in 2023 to US$ 1426.68 Billion by 2033.

The market for hydrogen buses is primarily being boosted by surging concerns over depleting natural resources and degrading environmental conditions. This has propelled the introduction of technologies that encourage the concept of eco-friendly transportation means to sustain the ecosystem.

Additionally, the increase in the number of people perturbed by the harmful effects of air pollution, rising levels of traffic as well as GHG emissions are accelerating the adoption of hydrogen fuel cell buses. These buses, unlike conventional modes of transportation like gasoline and diesel-powered vehicles, are eco-friendly in nature and offer a sustainable transport option.

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The market is witnessing significant impacts of technological upgrades taking place in hydrogen-powered vehicles, which is widening the scope of hydrogen-powered buses for the forecast period. The hydrogen-backed buses market is predicted to enjoy several opportunities to realize its potential over the anticipated time period. Further, the increasing investments in the infrastructure for hydrogen fuel cell buses and their related charging stations are projected to incite market development in the coming years.

In the U.S., California provided funds for the production of 100 refuelling stations for hydrogen-powered vehicles to achieve its goal of 1.5 Mn zero-emission Automotives by 2025 end. Similar policies deployed by several governments across the globe to encourage environmental health and safety is expected to facilitate the adoption of hydrogen buses over the forecast period.

Key Takeaways from the Hydrogen Buses Industry

German hydrogen buses market is projected to substantially contribute towards Europe’s leading position on a global scale. The rising influx of hydrogen fuel cell buses in the country is accelerating the transition towards the green economy.
The North American hydrogen buses market holds a significant market share. Rising initiatives by private companies and government bodies to foster the growth of emission-free vehicles in the region are propelling the market development of hydrogen-powered buses.
In emerging countries like India, the escalating pollution levels and growing concerns related to health issues caused by the inhalation of polluted air are driving the demand for hydrogen buses.
In China, the Beijing Winter Olympics 2022 witnessed the circulation of 800+ hydrogen fuel cell buses. The rising production and sales of hydrogen buses in the country are predicted to catalyze market growth.
The increasing operation of eco-friendly hydrogen-powered buses in South Korea is stimulating market growth in the country. Additionally, the rising government initiatives to promote the adoption of hydrogen buses are also enhancing the market scope of these buses.

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Growing Significance of Eco-friendly Mobility Presents Opportunities for Hydrogen Buses Operators

Companies operating in the hydrogen buses market are launching new models of hydrogen buses, keeping in mind their practicality and relevancy. Additionally, active measures to develop infrastructure for hydrogen fuel cell busare is projected to create favourable market conditions for the industry players in the near future. The increasing efforts to commercialize hydrogen fuel cell buses, especially in Europe, is expected to raise the operation of hydrogen buses.

Following companies provide hydrogen buses in the market, as identified by FMI:

Tata Motors Limited
Thor Industries
Hyundai
Ballard Power Systems
NovaBus Corporation
New Flyer Industries Ltd
EvoBus
New Flyer
Hino Motors Ltd.
SunLine Transit Agency

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Hydrogen Buses Industry Segmentation by Category

By Technology:

Proton Exchange Membrane Fuel Cells
Direct Methanol Fuel Cells
Phosphoric Acid Fuel Cells
Zinc-Air Fuel Cells
Solid Oxide Fuel Cells

By Power Output:

<150 kW
150–250 kW
>250 kW

By Transit Bus Models:

30-Foot Transit Buses
40-Foot Transit Buses
60-Foot Transit Buses

By Region:

North America
Latin America
Asia Pacific
Eastern Europe
Western Europe
Japan

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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Fire Trucks Industry Share

Automotive Sunroof Industry

Automotive Fasteners Industry

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Railway Generator Market Set to Surpass US$ 3,257.4 Million by 2033 with a Steady 5.0% CAGR

The railway generators market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the railway generators market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for railway generators. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The railway generators market size is likely to thrive at an average CAGR of 5% during the forecast period. The market is anticipated to cross a market share of US$ 3,257.4 Million by 2033 while it holds a value of US$ 1,999.8 Million in 2023.

Steady growth of the railway generator market is attributed to three major factors: The transformation of railway systems around the world. New railway systems set up in rural spaces for expanded connectivity, and sustainable & efficient energy-delivering generators.
The more connected world demands better and faster rail connectivity. The adoption of new and advanced generators helps trains with higher power delivery. This pushes the sales of EOG and battery-based generator cars.
The new locomotive systems integrating with the power delivery systems have fueled the higher adoption of advanced railway generators to produce electricity for AC coaches.
The lack of resources and funds to transform the whole railway system with the latest railway generator technology shrinks the market space globally.

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Key Points

The US holds a market share of 19.4% in the global market, owing to the higher government investments in railways and transforming railway bboundaries
Germany holds the market share of 6% for the railway generators market attributed to its higher tourist footfall and new extensions.
The developing railway infrastructure, and efficient generator technology along with the advent of new train routes in India and China thrive market growth. Both thrive at a CAGR of 6% and 5.5% respectively. India adoptsthe new HOG and EOGtechnologyy for higher sustainability and minimum fuel consumption.
The freight wagon segment holds a market share of 62.9% in the global market due to the proliferation of logistical operations along with its easy integration with modern generators.

Competitive Landscape

The competitors focus on creating advanced generators with better power delivery along with the efficient consumption of resources. Companies also make these generators reliable so that they can work for long hours and have a higher shelf-life. Furthermore, the key players adopt the strategy of acquisition, merger, and other expansionist tricks to strengthen their supply chain.

Key players in the market include Jenoptik, Nidec Generator Corporation, General Electric (the U.S.), Sulzer Ltd, ENGIRO GMBH , and Bharat Heavy Electricals Limited, ABB (Switzerland), Ingeteam Traction Systems, VEM Group , Kirloskar Electric Compan, and Swiger Coil Systems.

Recent Market Developments

Jenoptik systems along with its technological component have launched its new product of air-cooled alternators and integrated started generator (ISG) that is easy to integrate and provides low life-cycle-costs, and high energy-efficiency.
ABB has launched the high-performance WGX generator family that covers power from 1 to more than 3 kW while offering high efficiency of 96.9%.

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Railway generators Market by Category

By Generator Type, Railway Generators Market is segmented as:

AC Traction
DC Traction

By Power Rating, Railway Generators Market is segmented as:

Less than 500 kW
Between 500 kkW, 1000 kW
1000 kW and 2000 kW
2000 kW and Above

By Application, Railway Generators Market is segmented as:

Passenger Cars
Freight Wagons

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Train Seat Market

Automotive Suspension Systems Market

Automotive Engine Valve Market

Author

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Ongoing Coverage on Automotive Domain

Automotive Glass Market Size is estimated to capture a valuation of US$ 3.85 billion in 2023 and is projected to rise to US$ 5.70 billion by 2033.

Windscreen Adhesives Market Share is projected to be worth US$ 2.8 billion in 2023. The market is likely to surpass US$ 5.5 billion by 2033 at a CAGR of 7.8% during the forecast period.

ASEAN Automotive Aftermarket Demand is expected to expand its roots at a steady CAGR of 8.5% during the forecast period.

Automotive Engineering Services Market Trends will likely expand at a CAGR of 7.17% between 2023 and 2033, reaching US$ 3.2 billion by 2033.

Automotive Repair & Maintenance Services Market Growth is expected to attain a valuation of US$ 915.88 billion in 2023 and is projected to reach US$ 1,850 billion by 2033, registering a CAGR of 7.2%.

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Global Parabens Industry Set to Surpass US$ 285.2 Million by 2033, Driven by Pervasive Applications in Personal Care, Pharmaceuticals, and Food Industries

The global market for paraben is poised for significant growth, with projections indicating a value of US$ 285.2 million by 2033. The versatile application of methylparaben in personal care, cosmetics, pharmaceuticals, and more is anticipated to be the driving force behind this growth trajectory.

According to recent research conducted by [Research Firm], the market value of methylparaben stood at US$ 204.2 million in 2023, with an estimated compound annual growth rate (CAGR) of 3.4% forecasted from 2023 to 2033.

Methylparaben, a member of the Paraben Family, serves as a potent preservative, effectively inhibiting the growth of bacteria and fungi, thereby extending the shelf life of various products. This attribute positions methylparaben as a critical ingredient in a wide array of consumer goods, including skincare, pharmaceuticals, pet care products, and food items.

The demand for methylparaben is expected to witness steady growth, particularly in the cosmetics and personal care segments. The evolving consumer preferences towards personalized cosmetic solutions, tailored hair and skincare products, and an increasing emphasis on men’s grooming essentials are anticipated to fuel market expansion.

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Furthermore, the recovery of the cosmetics industry post the COVID-19 pandemic, driven by a surge in demand for sanitization and cleaning products, underscores the resilience and adaptability of the market.

A key highlight of the market analysis is the prominence of East Asia, particularly China, as a frontrunner in market growth. China’s burgeoning cosmetics market, characterized by a rising number of working women, growing disposable income, and a preference for premium products, presents lucrative opportunities for market participants.

The skincare sector dominates China’s cosmetics market, closely followed by makeup, hair products, and oral care items. Factors such as increased consumer awareness about personal hygiene, along with the convenience of e-commerce platforms, have contributed significantly to the sector’s recovery and sustained growth.

As the global economy continues its path towards recovery, the methylparaben market is poised for steady expansion, driven by evolving consumer preferences, technological advancements, and strategic market initiatives.

Key Companies Profiled

Ueno Fine Chemicals
Gujarat Organics
Sharon Laboratories
Jiangsu BVCO
Zhejiang Shengxiao
Kushan Shuangyou
Ami Organics Limited
SHREEJI PHARMA INTERNATIONAL
VIVAN Life Sciences
Salicylates and Chemicals Pvt. Ltd.
Enomark
Nu Skin International Inc.

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Key Segments Profiled in the Report

By Product Type Market is segmented as:

Methylparaben
Propylparaben
Butylparaben
Ethylparaben
Others

By Application Market is segmented as:

Preservatives
Others

By End Use Industry Market is segmented as:

Pharmaceuticals
Cosmetics and Personal Care
Food
Chemical Industry
Others

By Region Market is segmented as:

North America
Latin America
East Asia
South Asia and the Pacific
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltic Countries
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

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 Cement Board Industry Poised for Exponential Growth: Projections Show Market Value to Surpass US$ 21.9 Billion by 2033, Fueled by Versatility and Durability

The global cement board industry is experiencing robust growth, with an estimated value of US$ 12.6 Billion in 2023. According to recent market analysis, the sector is projected to witness a Compound Annual Growth Rate (CAGR) of 5.7% over the assessment period, reaching US$ 21.9 Billion by 2033. The surge in demand is attributed to the myriad benefits offered by cement boards, including exceptional flexibility, crack resistance, and durability.

Cement boards, crafted from cement and cellulose fibers, boast superior water resistance compared to traditional materials like paper-covered gypsum. They are widely utilized as backing for tiles, particularly in moisture-prone areas like bathrooms and kitchens, where resistance to mildew and mold is essential.

Moreover, cement boards play a pivotal role in the construction of high-quality furniture, renowned for their longevity and resilience against fire, termites, and water. They find extensive applications in flooring, sidings, roofing materials, ceilings, trims, and soffits, offering versatility across residential, commercial, and industrial projects.

The upsurge in construction activities, coupled with a burgeoning number of residential and commercial buildings, has propelled the demand for cement boards. With a steady growth rate of 4.9% from 2018 to 2022, these boards are favored for their ease of installation, handling, and a plethora of advantageous properties such as fire and moisture resistance.

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Various sectors including industrial, agricultural, domestic, and residential rely on cement boards for roofing, cladding, and flooring applications due to their durability and water resistance. These boards serve as a sturdy foundation for tiling, enduring heavy foot traffic with ease.

The industry is poised for further expansion with a projected CAGR of 5.7% during the forecast period, driven by escalating residential and commercial construction activities. Factors such as rising consumer disposable income, a growing emphasis on aesthetic enhancements, and regulatory mandates for eco-friendly building materials are anticipated to fuel market growth.

Key attributes contributing to the popularity of cement boards include their durability, environmental friendliness, and resistance to pests, fungi, fire, and vermin. They streamline construction processes, offer exceptional weather resistance, and are highly versatile in diverse building applications.

Wood strand cement boards, renowned for their bending strength, elasticity, and moisture resistance, are witnessing increased utilization in partition walls, roofing, flooring, and tile backing. These boards, with their cost-effectiveness and resistance to various elements, are becoming indispensable in modern construction projects.

The global cement board industry is undergoing a transformative phase, driven by innovation, sustainability, and the growing demand for resilient building materials. As the market continues to evolve, cement boards are poised to play a pivotal role in shaping the future of construction worldwide.

Key Companies Profiled

James Hardie Building Products Inc.
Etex Group
Cembrit Holding A/S
Johns Manville
Everest Industries Limited
SHERA
SCG CBM
Soben International Ltd.
Hume Cemboard Industries Sdn Bhd.
SANLE Group
Ramco Industries Limited
Vnext by Visaka Industries
CertainTeed
Knauf Gips KG
Owens Corning
American Fiber Cement Corporation
Allura USA
Elementia Material
BetonWood SRL
NICHIHA Co. Ltd.

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Key Segments Profiled in the Report

By Type:

Fiber Cement Boards
Cement Bonded Particle Boards
Wood Wool Cement Boards
Wood Strand Cement Boards

By Application:

Fire Resistant Construction
Flooring Applications
External Siding
Permanent Shuttering
Thermal Insulation
Partition Walls
Others

By Construction Type:

Commercial Buildings
Residential Buildings
Industrial and Institutional

By Region:

North America
Latin America
East Asia
South Asia and the Pacific
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltic Countries
The Middle East and Africa

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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

Braille Cartons Packaging Market Projected to Reach US$ 631.24 Billion by 2032, Fueled by 6% CAGR Growth

The braille cartons packaging market is experiencing robust growth, poised for a remarkable 6% CAGR through 2032. In 2022, the market already boasted a substantial valuation of US$ 352.48 billion, and this figure is expected to surge to an impressive US$ 631.24 billion by 2032. This expansion is fueled by global governments’ initiatives to provide guidance to medical businesses, facilitating the adaptation of braille carton packaging for pharmaceuticals. Such modifications make it significantly more accessible for visually impaired individuals to access vital information on medication labels.

Market leaders in braille carton packaging are heavily investing in advancements related to braille labeling and manufacturing quality. Various braille labeling techniques, including laminating, digital printing, integrated braille, and adhesive labels, are being employed to meet the evolving demands of the industry.

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Moreover, sustainability is a central focus for key players in the market, with a commitment to enhancing production techniques for improved product safety. These cartons find applications in fragile packaging items like glass, offering a sustainable alternative to rigid plastics. Manufacturers are capitalizing on after-pressing capabilities, aiming to provide consumers with components made entirely from post-consumer recyclable plastic, presenting visually appealing packaging solutions on grocery store shelves, thereby further fueling market expansion.

Growth Drivers:

Inclusive Packaging Regulations: Increasing global awareness about accessibility and the implementation of inclusive packaging regulations are driving the demand for Braille cartons. Governments and organizations are emphasizing the importance of packaging that accommodates individuals with visual impairments, boosting the market for Braille cartons.
Rising Healthcare and Pharmaceutical Needs: The healthcare and pharmaceutical industries, where accurate product information is critical, are significant drivers for Braille carton packaging. As the demand for medication and healthcare products grows globally, the need for Braille packaging in these sectors is expected to increase steadily.
Growing Aging Population: With a rising aging population worldwide, the demand for products specifically designed for seniors, including pharmaceuticals and personal care items, is increasing. Braille carton packaging caters to the needs of visually impaired individuals, making products more accessible to this demographic.
Corporate Social Responsibility (CSR) Initiatives: Companies are increasingly recognizing the importance of CSR initiatives, including the adoption of inclusive and sustainable packaging practices. The use of Braille cartons aligns with these initiatives, helping companies meet social responsibility goals and contributing to a positive brand image.
Technological Advancements in Printing: Advances in printing technologies have made it more cost-effective and efficient to incorporate Braille on packaging. The development of printing methods that seamlessly integrate Braille without compromising the overall design and quality of packaging materials is a key driver in the market’s growth.

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Industry Trends:

Customization and Branding: A notable trend in the Braille cartons packaging market is the customization of packaging to incorporate Braille while maintaining brand aesthetics. Brands are increasingly using Braille as a unique identifier, not just for compliance but also as part of their branding strategy.
Sustainable Packaging: The industry is witnessing a shift towards sustainable packaging practices. Eco-friendly materials, coupled with Braille, are becoming popular choices as businesses align with environmentally conscious consumers, contributing to the sustainable packaging trend.
Digitalization and Smart Packaging: The integration of digital technologies and smart packaging solutions is gaining traction. Braille cartons are not only incorporating tactile features but also incorporating technologies like QR codes, enhancing the overall consumer experience and providing additional information.
Global Market Expansion: With increasing globalization, the demand for Braille cartons is expanding beyond traditional markets. Emerging economies are witnessing a rise in awareness about accessibility, leading to a broader market for Braille cartons packaging.
Collaborations and Partnerships: Collaborations between packaging companies, Braille technology providers, and manufacturers are becoming more common. Such partnerships aim to streamline the production process, improve Braille quality, and offer comprehensive solutions to meet the evolving demands of the market.

Market Segmentation:

Based on material type,

Paper
Kraft paper
Cardboard

Based on Braille labelling technique,

Embossing
Screen printing
Integral braille
Adhesive labels

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

Protein Packaging Market Set to Surge to US$ 36.81 Billion by 2032, Driven by Robust 4.5% CAGR Growth

The protein packaging market, valued at US$ 23.7 billion in 2022, is expected to grow steadily at a CAGR of 4.5% from 2020 to 2028. By 2032, it is projected to reach US$ 36.81 billion. This growth is driven by increasing demand, regulatory changes, and a focus on sustainable packaging solutions.

Market Size and Growth Projection: The protein packaging market was valued at US$ 23.7 billion in 2022 and is forecasted to grow at a CAGR of 4.5% from 2020 to 2028, reaching US$ 36.81 billion by 2032. This growth is attributed to rising demand for protein products and evolving consumer preferences.
Fragmented Industry Landscape: The market for protein packaging is moderately fragmented, characterized by the presence of numerous small- and medium-sized businesses. This landscape fosters competition and innovation, as companies strive to differentiate themselves through product quality, sustainability, and market positioning.
Consumer Trends and Preferences: Businesses in the protein packaging market are adapting to consumer trends and preferences, particularly the demand for single-serve and travel-friendly packaging formats. This trend reflects changing lifestyles and consumption patterns, driving innovation in packaging design and functionality.
Global Expansion Strategies: Manufacturers in the protein packaging market are expanding their services globally, with a focus on key market regions such as the Asia Pacific. The Asia Pacific region presents significant growth opportunities due to its expanding consumer base, increasing disposable income, and evolving dietary preferences.
Hygienic Packaging in Pharmaceutical Industries: In North America, particularly the USA, major market participants are focusing on the development of hygienic packaging methods, especially in the pharmaceutical industry. The expansion of pharmaceutical industries and the emphasis on product safety and quality drive the demand for advanced packaging solutions in this region.

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Growth Drivers:

Increasing Demand for Protein-Rich Foods: The rising awareness of health and wellness has led to a growing demand for protein-rich foods. This includes not only traditional sources like meat and dairy but also plant-based proteins. As a result, there is a parallel demand for innovative and sustainable protein packaging solutions.
Technological Advancements in Packaging Materials: Advances in packaging materials and technologies are driving growth in the protein packaging market. Development of materials with enhanced barrier properties, improved shelf life, and eco-friendly characteristics are gaining traction. Smart packaging solutions, such as those incorporating sensors for freshness monitoring, are also contributing to market expansion.
Focus on Sustainable Packaging: With increasing environmental concerns, there is a significant shift towards sustainable packaging solutions. Consumers and businesses alike are seeking packaging materials that are recyclable, biodegradable, or made from renewable resources. Companies adopting eco-friendly practices in protein packaging are likely to see increased market share.
E-commerce Boom and Convenience Packaging: The growth of e-commerce, especially in the food and beverage sector, has led to a surge in demand for convenient and portable packaging solutions. Protein snacks, supplements, and meal replacements are popular online purchases, driving the need for packaging that ensures product integrity, convenience, and ease of use.
Health and Fitness Trends: The global focus on health and fitness has led to a surge in protein consumption. As more people embrace active lifestyles and dietary preferences shift towards protein-centric diets, the demand for protein products and, consequently, specialized packaging solutions is on the rise. Brands offering packaging that aligns with health and wellness messaging are likely to witness growth.

Industry Trends:

Rise of Plant-Based Protein Packaging: With the increasing popularity of plant-based diets, there is a growing trend towards plant-based protein sources. This trend extends to packaging materials, with a surge in the development and use of plant-based and compostable packaging options in the protein industry.
Innovations in Active and Intelligent Packaging: Active and intelligent packaging technologies are gaining prominence in the protein packaging market. These include packaging solutions with built-in freshness indicators, oxygen scavengers, and temperature-sensitive labels. Such innovations enhance product quality, safety, and shelf life.
Customization and Personalization: Consumer preferences for personalized and unique products are influencing protein packaging trends. Brands are adopting customizable packaging solutions, allowing consumers to tailor their protein products according to taste, nutritional requirements, or packaging aesthetics.
Emphasis on Minimalistic Packaging Design: Aesthetic minimalism is becoming a key design trend in protein packaging. Clean and simple designs not only appeal to modern consumer preferences but also align with the perception of health and purity associated with protein-rich products.
Globalization and Market Expansion: The protein packaging market is witnessing globalization as more companies expand their reach internationally. This trend is driven by the globalization of food trends, increased export/import activities, and the growing accessibility of diverse protein products worldwide. As a result, packaging solutions that cater to diverse cultural preferences and regulatory requirements are in demand.

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Reasons to Buy the Report

The report includes an authentic analysis of the market and the present developing trends in the market affecting the growth. FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. This ensures that the data collected is from highly reliable sources.

We provide accurate insights on various market trends to enable businesses to make informed and beneficial decisions to attain a competitive edge over key players.
Our analysts provide detailed market segmentation along with useful insights and extensive reports that other companies fail to include. The report comprises the market trends, key players and shift in the demand throughout the forecasted period.

Author:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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

Emerging Trends in Phosphor Screens: Industry to Hit US$ 359.5 Million by 2033 Driven by Healthcare and Electronics Industries

The global industry for phosphor screens is set to witness robust growth in the coming decade, with a projected value of US$ 359.5 million by 2033. This surge is primarily attributed to burgeoning demand from key industries such as healthcare, telecommunication, consumer electronics, and research and development institutes.

According to the latest report from Future Market Insights, the market was valued at US$ 250.0 million in 2023 and is anticipated to register a steady Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period spanning from 2023 to 2033.

Phosphor, a substance emitting light when stimulated by radiation, forms the core of these screens. Often combined with a matrix like ZnS and an activator, the type of activator used significantly influences the quality of luminescence. Originally utilized in its natural form, phosphors such as scheelite have been synthesized for various applications, including lighting and television.

Phosphor screens, commonly associated with Cathode Ray Tube (CRT) technology, were extensively used in monitors and televisions. Despite their replacement by LCD and OLED displays, they continue to find applications in military, medical, and industrial equipment, contributing to market growth.

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Healthcare and medical sectors have witnessed a surge in phosphor screen adoption, particularly in scanners for dental, veterinary, and autoradiography applications. The market grew at a commendable CAGR of 3.5% during the historic period of 2018 to 2022, driven by advancements in scanner technology.

The market is poised for further expansion, propelled by increasing demand from telecommunication, medical diagnostics, and scientific instrument manufacturing. Technological advancements, coupled with the versatility of phosphor screens, are driving their adoption across various sectors.

In scientific instrument manufacturing, phosphor screens are integral components, offering enhanced sensitivity and accuracy. Recent developments include the utilization of phosphor screens with single-walled carbon nanotubes (SWCNTs) in planar light source devices, showcasing the innovation driving the market forward.

The transition from Multipurpose (MP) screens to multi-sensitive (MS) screens, designed to withstand moisture and cater to diverse applications, is indicative of the market’s evolution. As research in phosphor screens continues to expand, the demand for advanced instruments is expected to surge, further driving market growth.

With the growing emphasis on diagnostic accuracy and technological innovation, the global phosphor screen market is poised for significant expansion. As key players continue to invest in research and development, the market is set to witness transformative growth in the coming years.

Key Companies Profiled

General Electric Company
GIDS GmbH
Kimball Physics
Phosphor Technology Ltd
Dr. Gassler Electron Devices
Hamamatsu Photonics, K. K.
Scintacor
Koninklijke Philips N.V.
Stanford Computer Optics, Inc
Konica Minolta, Inc.

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Key Segments Profiled in the Report

By Decay Time:

Short Decay Time
Long Decay Time

By Application:

Consumer Electronics
Health Care Electronics
Telecommunication
Scientific Equipment Manufacturing
Research, and Academia
Others

By Region:

North America
Latin America
East Asia
South Asia and the Pacific
Western Europe
Eastern Europe
Central Asia
Russia and Belarus
Balkan and Baltic Countries
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