Market Research Blog – Page 3721 – New Product Development

AI in Fraud Management Market: Projected Growth at 18.5% CAGR, Envisioned to Achieve US$ 57.1 Billion by 2033

The AI in fraud management market is set to grow significantly in the coming years. By 2033, it’s estimated that this market will be worth a staggering US$ 57,146.8 million. This growth is expected to happen at an annual rate of around 18.5% between 2023 and 2033.

Companies in various industries like manufacturing, banking, healthcare, and more are putting more money into developing better ways to protect against fraud. This is expected to make the fraud prevention market grow. Governments and businesses around the world are also spending on advanced tools to stop fraud. Plus, with more people using online shopping, that’s adding to the demand for these solutions. Big companies in this market are coming up with different plans to offer more products and take advantage of market growth.

With more and more people using apps and mobile banking on the internet, there’s been a big rise in fake websites and phony mobile apps. This isn’t just happening with banks, but also in other areas like online shopping, making stuff, and healthcare. These fake websites and apps look just like the real ones you use, but they’re out to trick you into doing fake things online.

Especially when it comes to banking, many of us use mobile apps for things like paying bills, checking our statements, and even complaining or giving feedback. So it’s important to be extra cautious.

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Key Takeaways from AI in Fraud Management Market Report:

United Kingdom AI in the fraud management market is expected to grow with a CAGR of 18.2% during the forecast period.
The market in China is expected to grow with a CAGR of 21.2% during the forecast period.
By solution, AI-powered fraud prevention software is projected to grow with a significant CAGR of 19.4 % during the forecast period.
The market in India is expected to grow with a CAGR of 19.4% throughout the forecast period.

Leading Key Players in the Global Market:

IBM Corporation
Cognizant
Temenos AG
Capgemini SE
Subex Limited
JuicyScore
Hewlett Packard Enterprise
MaxMind Inc.
BAE Systems plc
Pelican
SAS Institute Inc.
Splunk Inc.
DataVisor Inc.
Matellio Inc.
ACTICO GmbH

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By Solution:

AI-powered Fraud Prevention Software
- Cloud-based
- On-Premises
Services
- Risk Assessment Services
- Fraud & Risk Consulting
- Integration & Implementation
- Support & Maintenance
- Managed Services

By Application:

Identity Theft Protection
Payment Fraud Prevention
Anti-Money Laundering
Others

By Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

By Industry:

BFSI
IT & Telecom
Healthcare
Government
Education
Retail & CPG
Media & Entertainment
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
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 5000 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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Butyl Glycol Market Poised to Surge to US$ 4.7 billion by 2033 as Industrial and Household Sectors Embrace Its Versatile Applications

The global butyl glycol market size is anticipated to reach a valuation of US$ 4.7 billion by 2033, with sales growing at a stagnant CAGR of 3.6% from 2022 to 2033. By the end of 2023, the target market is set to reach an estimated US$ 3.3 billion. The increasing application of butyl glycol as a coupling agent and solvent in household cleaning and industrial sectors will fuel the growth of the butyl glycol market during the forecast period.

A colorless liquid organic compound, butyl glycol has properties like lower volatility, sweet-ether odor, and high acidity. These aspects are gaining tremendous popularity as solvents in multiple industry verticals including chemical processing, industrial cleaning, and printing inks sectors among others.

With escalating demand for water and solvent-based paints, the demand for butyl glycol is also increasing. Thus, butyl glycol is experiencing demand from an assortment of end-use industries such as the construction, chemical, and industrial sectors. Again, the expansion of industries like metal working industry, paints & coatings industries, and printing sectors also benefit from the use of butyl glycol. This is expected to have a positive impact on the target market.

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Moreover, butyl glycol is observing extensive usage in the paint & coatings industry as a coalescing agent, coupling agent, and solvent. This is because of its favorable characteristics like low volatility, high miscibility, and others. It also finds application in manufacturing paints for improving the crushability of alkyd resin paints and extending drying time. Similarly, growing demand for architectural paint from residential housing and commercial projects as well as municipal infrastructure such as roads, sewage plants, rails, and others is augmenting the global sales of butyl glycol during the forecast period.

“Extensive application of butyl glycol as a solvent, a coupling agent, and others will likely boost the global growth of the butyl glycol market over the forecast period,” says an FMI analyst.

Key Takeaways in Butyl Glycol Market Research Report:

Harmful side effects and strict regulations may stymie the market growth.
The butyl glycol market in the United States is expected to expand at a CAGR of 3.4% through 2033
The advancing oil and gas industry drives the target market in the United States.
Growing construction activities will propel butyl glycol market growth in China.
Butyl glycol trends in China are taking a turn for the better. A 3.2% CAGR is forecast for the country from 2023 to 2033
By function, the solvent segment will record a strong CAGR during the forecast period.
On the basis of application, the paints and coatings segment will lead the market.

Competitive Landscape in the Butyl Glycol Market

Key market participants are keen on increasing their production capacity to cater to growing consumer demands. These enterprises employ strategic acquisitions, mergers, collaborations, and partnerships to strengthen their market position.

Key Companies Profiled

Sadara Chemical Company
Anshika Polysurf Ltd.
Nippon Nyukazai Co. Ltd.
Lotte Chemical Corporation
Sasol Ltd.
Lyondell Basell Industries N.V.
Eastman Chemical Corporation
Asia Pacific Petrochemicals Co Ltd
Dow Chemical Company
BASF SE
KH Chemicals

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More Insights into Butyl Glycol Market Report

In its latest report, FMI offers an unbiased analysis of the global butyl glycol market, providing historical data from 2015 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of function (solvent, coalescing aid, chemical intermediate, plasticizer), application (paints and coatings, printing inks, metal working fluid, polymer & plastics, others), and region.

According to the latest FMI reports, based on segmentation, the solvent function segment will make a significant contribution to the overall market growth during 2022-2029. Owing to butyl glycol usage as a solvent across multiple industry verticals, this segment is expected to register a strong CAGR. In terms of application, the paints and coatings segment will lead the market growth during the forecast period.

Based on region, the butyl glycol market in China will present substantial growth during 2023-2033. Owing to a surge in construction projects, the target market in China is undergoing impressive growth while pushing East Asia’s butyl glycol market to account for 30.3% of the overall revenue in 2022. Increasing building and infrastructure activities and extensive application in paints and coatings sector further aids the target market growth in this region during the projected period.

Butyl Glycol Market by Category

By Function:

Solvent
Coalescing Aid
Chemical Intermediate
Plasticizer

By Application:

Paints and Coatings
Printing Inks
Metal Working Fluid
Polymer & Plastics
Others

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
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 5,000 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

Hydrofluoric Acid Market on a Steady Rise: FMI Study Highlights Growth to US$ 2,748.6 Million by 2033, Reflecting Expanding Industrial Applications

With the demand for hydrofluoric acid expected to increase at 4.1% CAGR between 2023 and 2033, the future looks bright for producers of the chemical. Further, it is predicted that hydrofluoric acid sales, in terms of value, might reach a staggering US$ 2,748.6 million by the end of this forecast period. The overall market is anticipated to maintain its upward trend, reaching an anticipated value of US$ 1,892.4 million in the year 2023.

Thorough research from FMI indicates that the Hydrofluoric Acid market had an estimated value of US$ 1,640.4 million in the historical year 2018. Furthermore, during the period between 2018 and 2022, it expanded noticeably, having a CAGR of 2.9%. The global market value increased to US$ 1,839.1 million by 2022, underscoring the expanding use of hydrofluoric acid across several sectors.

The use of hydrofluoric acid in the manufacture of cookware and cable wires is a significant element influencing the rise in demand for the chemical. Moreover, there is an increasing demand for reliable and effective cookware as well as better communication infrastructure as the world’s population continues to expand. Such items’ manufacturing processes depend hugely on hydrofluoric acid, which, in turn, is driving up its demand, particularly in industrializing economies.

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Hydrofluoric acid is used in the making of hydrofluorocarbons (HFCs) and hydrofluorolefins (HFOs), which are also in high demand on the market these days. These substances have a small influence on the ozone layer than conventional refrigerants, which makes them popular refrigerants and air conditioning system components. So the sales of hydrofluoric acid have increased as governments and businesses are increasingly prioritizing ecologically acceptable alternatives hugely.

Key Takeaways from the Global Hydrofluoric Acid Market Study Report by FMI

The use of hydrofluoric acid in the manufacturing of fluorinated derivatives was credited with the dominance of the United States with a 19.3% global market share.
In 2022, the demand for hydrofluoric acid in Germany had a sizeable market share, at 16.3% of the global revenue share.
Asia Pacific’s market captured an impressive share of 36.5% of the global market of 36.5% in the year 2022. The sales of hydrofluoric acid in India are anticipated to sustain the trend with a 3.7% CAGR throughout the forecast period.

Competitive Landscape for the Hydrofluoric Acid Market Players

The demand for hydrofluoric acid has been increasing globally, which has had a positive impact on the industry’s profitability encouraging many new players. With a promising outlook, the new players are anticipated to continue profiting from the rising worldwide demand for hydrofluoric acid and its numerous applications.

The Top Players are

Gulf Fluor
Lanxess AG
Solvay SA
Honeywell International
Buss ChemTech AG
Sinochem International Corp.
Tanfac Industries ltd.
Fubao Group
Navin Fluorine International Limited
Merck KGaA
SRF Limited
Gujarat Fluorochemicals Ltd.
Stella Chemifa Corporation
Morita Chemical Industries Co. Ltd.
Soulbrain Co. Ltd.

Recent Developments by the Hydrofluoric Acid Manufacturing Industries

Clariant International Ltd. and AkzoNobel joined forces in February 2023 to create fresh hydraulic acid additives. Through this collaboration, they might be able to create novel additives that lessen corrosion, increase lubricity, and prolong the lifespan of hydraulic acid systems.
The Dow Chemical Company stated in January 2023 that it might be expanding its hydraulic acid production facility to supply the rising demand for hydraulic acid. As a result of this expansion, the firm is going to boost manufacturing capacity and shorten lead times.

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Key Segments Covered in the Hydrofluoric Acid Industry Analysis

By Grade:

Anhydrous
Aqueous

By Application:

Fluorochemicals
Steel Pickling and Metal Treatment
Petroleum Catalyst
Glass Etching
Electronics & Semiconductors
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
The 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

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

Consumer Preference Shifts Fuel Global Perfume Ingredient Chemicals Market Anticipated Surge to US$ 12.4 billion by 2033

According to Future Market Insights, the global perfume ingredient chemicals industry is expected to attain a valuation of US$ 7.09 billion in 2023. The market is further projected to reach US$ 12.4 billion by 2033, exhibiting a CAGR of 5.7% during the forecast period.

The demand for perfume ingredient chemicals is expected to rise due to the rising demand for hair and skin care products. Consumer awareness and preference for new brands positively impact the perfume market. Product innovations, research and development activities, and new product launches in cosmetics and toiletries are expected to drive market growth, especially in the toiletries and cosmetic products segment. These factors contribute to the expansion and retention of the customer base in the perfume ingredients chemicals market.

The growth of the perfume ingredients chemical market is fueled by the rising expenditure on premium quality products, including herbal fragrances, and the increasing consumer spending on cosmetics. The market is also positively impacted by consumer preferences for herbal fragrances and natural beauty products, driving the demand for premium chemical ingredients in perfumes.

The market is experiencing a surge in the development of natural-based chemical ingredients to meet the increasing demand for natural fragrances among consumers. With a growing focus on sustainability, consumers are paying more attention to fragrances, especially in personal care and home care products. As a result, market players are concentrating on creating more natural-based ingredient chemicals.

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For instance, MANE introduced GREENCATCHER in July 2020, an advanced specialty ingredient with a powerful fruity herbal note that finds applications in personal care and fine fragrance products. Similarly, in March 2019, Givaudan launched Sensityl, a new active ingredient for cosmetics. The development of such natural ingredient solutions is expected to boost the demand for perfume ingredient chemicals, driving market growth during the forecast period.

Perfume ingredient chemicals, including synthetic aroma chemicals and essential oils, are widely used in various personal care products like aftershaves, shampoos, shaving creams, moisturizers, and facial serums. Thus, increasing global demand for personal care products is expected to drive the market’s growth during the forecast period.

Key Takeaways from the Market Study

The demand for perfume ingredient chemicals in Sweden is projected to rise with a promising CAGR of 6% during the forecast period.
The market in North America is expected to thrive with a CAGR of 5.8% during the forecast period.
By product type, the essential oil segment is anticipated to generate sales with a CAGR of 6.5% during the forecast period.

“The thriving personal care product industry is expected to drive the demand for perfume ingredient chemicals during the forecast period,” comments an FMI Analyst

Competitive Landscape

The perfume ingredient chemicals market is highly competitive, with key industry players making substantial investments to enhance their manufacturing capabilities.

Some recent developments in the perfume ingredient chemicals market are:

In May 2022, DSM Group, a Dutch company, acquired Firmenich, a Switzerland-based perfume manufacturer.
In December 2021, Givaudan acquired Custom Essence, a fragrance creation house based in the US, which allowed Givaudan to enhance its natural perfumery capabilities.
In October 2021, L’Oréal Groupe, a leading personal care company from France, introduced a new fragrance disclosure model to inform customers about the ingredients used in its global portfolio of brands and products, beginning with the U.S. rollout.
In July 2021, German-based flavors and fragrances company, Symrise, unveiled a unique fragrance raw material called Lilybelle.

Top Key players in the Global Market

Sensient Technologies Corporation
BASF SE
Eternis Fine Chemicals
YingYang (China) Aroma Chemical Group
KDAC CHEM Pvt. Ltd.
Frutarom
Harmony Organics Pvt. Ltd.
Atul Ltd.
Godavari Biorefineries Ltd.
Givuadan
Firmenich
International Flavors and Fragrances Inc.

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Key Segmentation

By Product Type:

Synthetic Aroma Chemicals
Essential Oils

By Application:

Fine Fragrance
Home Care
Laundry Care
Personal Care
Cosmetics
Others

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa

About Future Market Insights (FMI)

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Nandini Singh Sawlani

Global Construction Polymer Industry Anticipated to Reach Staggering US$ 472.4 billion by 2033, Propelled by Sustainable Solutions and Innovations

The global construction polymer industry is poised for significant growth, with a projected value of US$ 244.7 billion in 2023, and it is expected to reach an impressive US$ 472.4 billion by 2033, demonstrating a robust compound annual growth rate (CAGR) of 6.8% over the course of the decade from 2023 to 2033. This expansion underscores the growing importance of construction polymers in the industry, driven by factors such as infrastructure development, sustainability initiatives, and the demand for innovative building materials.

Construction polymers find extensive applications in various areas, including road construction, roofing, foundations, and paneling. Additionally, they are utilized in glazing sealants, bridge bearings, waterproof membranes, flooring, and more. Also, the remarkable benefits of construction polymers are difficult to overlook, making a significant impact across numerous sectors.

The continuous expansion of the construction sector is anticipated to create demand for innovative and eco-friendly construction materials, thereby fueling the growth of the construction polymer market. Modern infrastructure demands superior, durable, and suitable construction materials.

As an engineering material, construction polymers have gained significant importance. They serve as essential building blocks in the construction of engines, vehicles, household articles, and buildings. Additionally, the global demand for construction polymers is positively influenced by factors such as abundant raw material availability, inherent properties, and versatile processing methods.

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Both developed and emerging countries are heavily investing in infrastructure development, city connectivity, and establishing new regulatory frameworks to foster better growth. As a result, these countries are expected to offer numerous opportunities, contributing to the flourishing of the construction polymers market in these regions.

The rising importance of construction polymers as a crucial raw material in constructing green buildings has led governments to take initiatives toward promoting green building projects. This proactive approach is expected to drive significant growth in the construction polymers market worldwide.

In recent years, green structures have gained increasing preference over traditional ones. The building industry utilizes polymers to enhance energy efficiency. Further, the growing demand for green buildings is driven by factors such as:

Reduced operating costs,
Improved air quality
Renewable energy adoption,
Efficient energy, and water utilization
Light loads on metal structures compared to conventional buildings

Social factors like fostering a sense of community, promoting occupant health and well-being, and encouraging sustainable business practices further contribute to the growth of green buildings.

Plastics play a key role in numerous green building applications, such as pipes, windows, floors, roofs, insulation, and fire sprinklers. With the growing demand for green buildings, the market for construction polymers is projected to experience substantial growth in the forecast period.

Plastics possess several qualities that make them highly sought-after for green buildings, including excellent corrosion resistance, easy installation, lightweight, and durability, ease of transport and handling, and high-temperature resistance.

Key Takeaways

The market in North America is expected to account for over 16.1% market share in 2023.
Based on polymer type, the demand for polyvinyl chloride polymers is expected to rise with a CAGR of 7% during the forecast period.
By end-use, commercial real estate, and housing real estate combined are expected to account for over 65% market share by 2033.

“The continuous expansion of the construction sector and rising initiatives to promote green building projects is expected to bode well for market growth,”– comments an FMI Analyst”

Competitive Landscape

The construction polymer market is highly competitive, with key industry players making substantial investments to enhance their manufacturing capabilities.

Innovations in the Construction Polymer Market

In May 2021, Arkema finalized a deal to acquire Agiplast, a prominent plastic compounding company.
In April 2021, Arkema announced its intention to start manufacturing its leading high-performance polymers, Rilsan polyamide 11 and Amino 11, at a new plant on Jurong Island, Singapore, in the first half of the following year.
B. Fuller made an announcement in June 2021 regarding the signing of a distribution agreement with Jubilant Agri and Consumer Products Limited (JACPL), which is a wholly-owned subsidiary of Jubilant Industries Limited.

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Top Key Players in the Construction Polymer Market

H.B Fuller Company
Momentive Performance Materials Inc.
Evonik Industries AG
Solvay SA
Arkema S.A.
E.I Dupont De Nemours and Company
SCG Chemicals Co., Ltd.
Croda International Plc
Henkel AG & Co. KGaA
Sika AG
3M Company

Key Segments Profiled in the Construction Polymer Market Survey

By Polymer Type:

Epoxy Resins Construction Polymer
Polystyrene Construction Polymer
Polycarbonate Construction Polymer
Polyethylene Construction Polymer
Polyisobutylene Construction Polymer
Polymethylmethacrylate Construction Polymer
Polypropylene Construction Polymer
Polyurethane Construction Polymer
Polyvinylchloride Construction Polymer
Other Construction Polymers

By Application:

Walls
Floorings
Piping
Windows
Roofs
Insulation and Sliding
Glazing
Cladding
Plastic Wraps
Other Applications

By End-User:

Commercial Real Estate Construction
Housing Real Estate Construction
Industrial Construction
Facility Infrastructure
Transportation Infrastructure
Utility Infrastructure
Other Infrastructure

By Construction Activity:

New Construction
Renovation

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa

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Global Industrial Oil Market Set to Surge: Projections Show Exponential Growth, Reaching a Valuation of US$ 92,757.6 Million by 2033

By 2033, the overall market valuation is anticipated by FMI to be valued at nearly US$ 92,575.6 million. The industrial oil market size has seen continuous growth in sales, with an estimated value of around US$ 65,757.6 million in 2023. Further, a robust CAGR of 3.5% is predicted by FMI for the upcoming years to continue this upward trend.

The rapid rise in demand for industrial in recent years reflects the rising need for industrial lubricants and fluids in a variety of industries. High-quality lubricants and fluids are in demand to maintain the performance and durability of machinery and equipment.

The 4^th Industrial Revolution and the surge in industrial automation have also increased the demand for industrial oil by manifolds in the last few years. The demand for dependable industrial oil products can rise further in the coming days as enterprises use automation to increase output and save costs.

Strict rules and concerns about sustainability have also influenced the industrial oil production sector to a great extent in recent years. The transition to biodegradable lubricants has forced manufacturers to spend money to create environmentally friendly industrial oil products that operate at their best.

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The overall market is also expanding with the developing economies and industrialization in areas like the Middle East, Latin America, and Asia Pacific. Some other factors, including technological developments in equipment, have also contributed to the tremendous increase in the global market.

Key Takeaways from the Industrial Oil Market Study Report

The United States commands a substantial market with a 20.4% global revenue share in 2022. This can be due to its thriving industrial sector and improvements in technology in the country.
Germany is well-represented in the global industrial oil manufacturing sector, with a global revenue share of 6.8% in 2022. Meanwhile, the demand for industrial oil in the United Kingdom is anticipated to expand steadily between 2023 and 2033, with a CAGR of 2.6%.
The sales of industrial oil in China are anticipated to increase significantly between 2023 and 2033, with a CAGR of 4.1%. Meanwhile, the market in India is anticipated to develop rapidly at a CAGR of 4.8% during this period.

Competitive Landscape for the Industrial Oil Market Players

Top Key Companies Profiled

ExxonMobil
Shell
PHILLIPS 66
TotalEnergies
Chevron
bp
Gazprom
Rosneft
Quacker Houghton Chemical Corp.
Lukoil
Petronas
Bharat Petroleum
FUCHS PETROLUB SE
Sinopec
Idemitsu Kosan Co., Ltd
Tide Water Oil Co (I) Ltd
Castrol
Panama Petrochem Ltd.
Gulf Oil Lubricants India Ltd
Gandhar Oil
Savita Oil Technologies Ltd
Apar Industries Ltd.
Grauer & Weil (India) Limited
Gold Oil Corporation
Vinayak Oil

The establishment of specialized production facilities demonstrates the dedication of such market participants to remain at the forefront of technical breakthroughs.

Recent emphasis on sustainability aligns with worldwide initiatives to cut carbon emissions and advance environmentally friendly business practices. Meanwhile, new players seek to improve their market positions and provide improved lubricant solutions to compete with the existing players.

Recent Developments by the Industrial Oil Manufacturing Industries

ExxonMobil made an important statement in February 2023 when it revealed its plans to invest US$ 100 million in a new facility in Houston, Texas. The main goal of this cutting-edge lubricants production facility is to meet the changing demands of diverse industrial sectors and promote technical improvement.

In May 2023, TotalEnergies Company said it was creating a new kind of recycled plastic-based industrial lubricant. Although it is generated from a more sustainable feedstock, the company claims it to be just as effective as conventional lubricants.

To create sustainable industrial oils, Chevron and the University of California, Berkeley, formed a partnership in June 2023. The alliance plans to concentrate on exploiting algae to create oils that work with current industrial machinery.

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Industrial Oil Market Segmentation

By Type:

Mineral
Synthetic and Semi-Synthetic
Bio-based

Oil Type:

Process Oil
Hydraulic Oils
Industry Engine Oils
Gear Oils
Metal Working Fluids
Turbine and Circulating Oils
Refrigerating Oils
Compressor Oils

By Source:

Crude Oil
Soybean
Rapeseed
Sunflower
Palm
Others

By End Use:

Energy Generation
Oil & Gas
Manufacturing
Automotive
Heavy Engineering Equipment

By Region:

North America
Latin America
Europe
East Asia
SAPeI (South Asia Pacific excl. India)
The Middle East & Africa
India

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Electronic Materials and Chemicals Market Set to Surge with 5.6% CAGR, Projected to Reach US$ 1,28,776.8 Million by 2033, Reveals FMI Analysis

The electronic materials and chemicals market is forecast to experience a growth of 5.6% CAGR over the estimated time period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 74,679 million in 2023.

Technological advancements in the electronics industry are another factor fueling the demand for electronic materials and chemicals. Inclining preference for nanotechnology in NEMS and MEMS devices has yielded significant market opportunities. Additionally, increasing proclivity toward smart technologies and connected devices is boosting the demand for AI and IoT-powered devices for improved and safe functionality. Thus, stimulating demand for electronic chemicals and materials.

The establishment and further growth of corporate companies boost the consumption of electronic devices like smartphones, computers, air conditioners, and laptops that depend heavily on electronic circuits and chips. Moreover, the expansion of the IT hardware sector is presenting growth avenues for electronic materials and chemicals. Nonetheless, factors like the high cost of operations and complex regulations are expected to obstruct market growth.

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Surging demand for electronic chemicals and materials from the electronic industry is propelling market growth. Electronic chemicals and materials are utilized for cleaning, etching, and servicing semiconductors so as to drive performance efficiency.

Demand for compact-sized gadgets due to the presence of more features in a singular device is expected to propel demand for silicon wafers throughout the world. In addition, the miniaturization of semiconductor devices is further expected to propel market development over the next ten years.

Top Highlights from the FMI’s Analysis of the Electronic Materials and Chemicals Market:

The United States electronic materials and chemicals industry is expected to have a large stake of 25.2% in 2023. Due to rapid innovation and the high density of manufacturers in the country, the market is expected to observe significant growth in terms of revenue.
Germany is a prominent market in Europe and contributes 8.8% market share with the global market. In the coming years, manufacturers are expected to expand and invest in the regional market to reap significant profits later on.
Japan is projected to account for a 3.6% value share in 2023. The country is expected to observe more manufacturers willing to explore the growth prospects in later years.
Australia is expected to record a market share of 3.1% in 2023. This market has the potential to grow as manufacturers are looking for more unexplored markets to realize their potential.
China and India are expected to register a CAGR of 4.5% and 5.2%, respectively, over the forecast period. The countries are expected to have significant expansion prospects for businesses over the forecast period.
Under the product type, the solid segment is expected to account for 34.1% market share in 2023.
Based on application, the silicon wafers segment is projected to attain a 48.4% market share in 2023.

Winning Strategies to Gain More Market Share

The competitive landscape of the electronic materials and chemicals industry is fragmented. The players are employing strategies like acquisition, business expansion, and partnership to expand their market presence. Firms are increasing their capacities to cater to customer requirements, primarily from the electronics industry. Recent developments in the market include:

In 2021, Air Products commenced a new air separation facility in Arizona to develop oxygen and nitrogen for electronics applications.
Linde began a new ASU in 2020 to cater to the demand for industrial gases in South Korea.

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Key players in Electronic Materials and Chemicals Market

Air Products & Chemicals Inc.
Bayer Ag
Albemarle Corporation
Ashland Global Specialty Chemicals Inc.
BASF Electronic Chemicals

Electronic Materials and Chemicals Market Key Segments:

By Product:

Liquid
Gaseous
Solid

By Application:

Silicon Wafers
PCB Laminates
Specialty Gases
Wet Chemicals and Solvents
Photoresist
Others

By End Uses:

Semiconductors and Integrated Circuits
Printed Circuit Boards

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Strategic Initiatives: Leading Players Invest in Diverse Product Portfolios and Novel Technologies to Drive Growth in Tablets and Capsules Packaging Market

The future of the tablets and capsules packaging market appears promising, driven by several key factors. Firstly, the increasing demand for pharmaceutical products globally is expected to fuel the growth of the market. With advancements in healthcare infrastructure and rising healthcare awareness, the consumption of tablets and capsules is likely to rise, consequently boosting the need for innovative and efficient packaging solutions.

Additionally, stringent regulatory requirements regarding product safety and integrity will continue to drive investments in packaging technologies that ensure compliance and maintain the efficacy of pharmaceutical products.

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Moreover, as sustainability becomes a central focus across industries, including pharmaceuticals, there is a growing emphasis on eco-friendly packaging solutions. Companies are expected to invest in the development of sustainable packaging materials and practices to reduce environmental impact and meet consumer demands for environmentally responsible products.

Overall, the tablets and capsules packaging market is poised for significant growth as it adapts to evolving industry trends and consumer preferences.

Upcoming Trends in the Tablets And Capsules Packaging Industry:

Child-Resistant Packaging: With increased focus on safety and child-proofing, the tablets and capsules packaging market will witness a rise in demand for child-resistant packaging solutions. Innovations in design and materials will enable manufacturers to develop packaging that meets stringent safety standards while maintaining convenience for adult consumers.
Advanced Anti-Counterfeiting Measures: Counterfeiting poses a significant threat to the pharmaceutical industry. To combat this, the tablets and capsules packaging market will see a proliferation of advanced anti-counterfeiting measures such as holographic labels, tamper-evident seals, and serialization technologies. These measures will enhance product security and authenticity, safeguarding both consumers and brands.
Single-Unit Dose Packaging: Single-unit dose packaging formats will gain popularity in the tablets and capsules market due to their convenience, portability, and ability to improve medication adherence. Consumers increasingly prefer pre-dosed packaging for ease of use and precise dosage, driving the adoption of blister packs and unit-dose pouches.
Interactive Packaging Designs: Interactive packaging designs will emerge as a key trend in the tablets and capsules packaging market, offering consumers engaging and informative experiences. Augmented reality (AR) packaging, QR code-enabled packaging, and interactive labels will provide consumers with access to product information, dosage instructions, and medication reminders, enhancing user experience and brand loyalty.
Focus on Patient-Centric Packaging: Patient-centric packaging solutions will gain traction as the healthcare industry emphasizes patient engagement and empowerment. Packaging designs that prioritize user-friendliness, accessibility, and readability will become increasingly prevalent, catering to diverse patient populations, including the elderly and individuals with disabilities.

Future Growth Trajectories:

Sustainable Packaging Solutions: The tablets and capsules packaging market will witness a surge in demand for sustainable packaging solutions. Biodegradable materials and eco-friendly designs will become increasingly prevalent as consumers and regulatory bodies prioritize environmental concerns.
Customization and Personalization: As consumer preferences diversify, there will be a growing demand for customized and personalized packaging solutions. Companies will invest in technologies that allow for flexible and cost-effective customization, catering to niche markets and specific consumer needs.
Smart Packaging Integration: Integration of smart packaging technologies such as RFID tags, QR codes, and NFC sensors will revolutionize the tablets and capsules packaging market. These technologies will enable enhanced product tracking, authentication, and consumer engagement, driving market growth.
Expansion in Emerging Markets: Emerging markets, particularly in Asia-Pacific and Latin America, will experience significant growth in the tablets and capsules packaging sector. Rapid urbanization, increasing disposable incomes, and expanding healthcare infrastructure will drive demand for pharmaceuticals, consequently boosting the demand for innovative packaging solutions.
Regulatory Compliance and Quality Assurance: Stricter regulatory requirements and quality standards will shape the future trajectory of the tablets and capsules packaging market. Companies will focus on implementing robust quality assurance measures and complying with evolving regulatory frameworks to maintain consumer trust and ensure product safety.

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Tablets and Capsules Packaging Market: Key Players

Some of the key players in the global tablets and capsule packaging market are

Trividia Manufacturing Solutions, Inc.,
Paragon Labs,
ACG PHARMAPACK PRIVATE LIMITED etc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections done using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type, machine size and end use.

The Packaging of tablets and capsules is a continuous emerging science and can act as success contributor pharmaceutical industries.

The growth of pharmaceutical industry worldwide is driving the packaging market and thus in turn escalating the demand for global tablets and capsules packaging market. In addition to this various government initiative in many countries to boost healthcare is likely to drive the global tablets and capsules packaging market. Creative collaboration between packaging and delivery system manufacturers and drug manufacturers can act as a strong growth factor for the pharmaceutical companies during the forecasted period.

It has been observed that the global tablets and capsules packaging market have opportunities in terms of technology. The improved safety, protection and security provided by the new advanced packaging methods are one of the major trends upcoming in global tablet and capsules packaging market.

In terms of geography, the global tablets and capsule packaging market has been divided into five key regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.The global tablets and capsule packaging market are expected to register healthy CAGR during the forecast period. Asia Pacific is anticipated to be the dominant market for global tablets and capsule packaging market followed by North America and Europe. Growing population demands for medicines in Asia Pacific region is driving the tablets and capsules packaging market.

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Tablets And Capsules Packaging Market

Based on the type of tablet and capsules the global packaging tape market is segmented into:

Coated tablets
Sugar coated tablet
Enteric coated tablet
Uncoated tablet
Chewable table
Lozenge tablet
Sublingual tablet
Soluble tablet
Soft gelatin capsules
Hard gelatin capsules
Consumer Goods
Others

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

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North American Dominance: U.S. Leads Glass Decanters Market as Highest Wine-Consuming Country, Fuelling Demand and Driving Global Growth

The global glass decanters market is set to experience a steady Compound Annual Growth Rate (CAGR) of 3% during the forecast period, with an estimated valuation of US$ 427.73 billion by 2032, marking a notable increase from the US$ 318.27 billion recorded in 2022.

Leading the market, North America owes its prominence to its status as the largest consumer of glass decanters. The United States’ significant wine consumption, as highlighted by the Wine Market Council, where approximately 341.5 million 9-liter cases were consumed in 2016, contributes to this region’s market dominance. Furthermore, the region’s escalating purchasing power for glass decanters is projected to propel global market growth.

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Europe follows suit, holding the second-largest market share due to Germany’s position as the largest wine-importing country. Countries like France, Italy, and the U.K., with substantial wine and spirits imports, further sustain the demand for glass decanters within this region.

Industry manufacturers are strategically expanding their product portfolios to cater to end-user requirements. Key players are facilitating small orders and swift deliveries while offering custom glass designs that impeccably reflect customers’ styles or brand identities. Their focus on presenting a collection of classic bottle designs, underpinned by expertise and innovation, empowers high-end brands to capitalize on market opportunities.

A decanter is a vessel that is used to hold a liquid such as wine, whiskey, and other beverages. Decanters are available in varied shapes and sizes and are traditionally made from glass. Glass decanters usually have a volume equivalent to one standard bottle of wine or a whiskey. Decanters are also made of crystal, which is a type of glass. Glass products containing less than 4% of lead oxide are labeled as glass, whereas glass products containing more than 10% of lead are labeled as crystal.

Future Growth Trajectories:

Customization and Personalization: Companies will increasingly offer customization options, allowing customers to personalize their glass decanters with unique designs, engravings, and monograms.
E-commerce Dominance: The glass decanter market will continue to see a significant shift towards e-commerce platforms, driven by convenience, wider product selection, and competitive pricing.
Sustainability Initiatives: With growing consumer consciousness about environmental issues, there will be a rise in demand for eco-friendly glass decanters made from recycled materials or utilizing sustainable manufacturing processes.
Innovative Designs and Materials: Manufacturers will explore new materials and innovative designs to differentiate their products in the market, such as incorporating sleeker shapes, modern aesthetics, and functional features.
Luxury and Premium Segments: The luxury and premium segments of the glass decanter market will experience steady growth, driven by affluent consumers seeking high-quality craftsmanship, exquisite designs, and prestigious brand names.

Upcoming Trends in the Glass Decanter Industry:

Smart Decanters: Integration of smart technology into glass decanters, such as built-in sensors for monitoring liquid levels, temperature control, and connectivity features for smart home integration.
Artisanal Craftsmanship: A resurgence of interest in artisanal craftsmanship will lead to a trend of handcrafted glass decanters, showcasing unique designs and superior quality that appeal to connoisseurs and collectors.
Heritage and Vintage Revival: Inspired by nostalgia and vintage aesthetics, there will be a trend towards designs reminiscent of classic glassware styles, evoking a sense of heritage and tradition.
Functional Innovation: Glass decanters will increasingly incorporate functional innovations such as spill-proof pour spouts, aeration features for enhancing flavor profiles, and modular components for versatile usage.
Health and Wellness Focus: Consumers’ growing interest in health and wellness will drive demand for glass decanters designed to optimize the sensory experience of beverages, such as wine aerators that enhance flavor and aroma while promoting responsible consumption.

Key Manufacturers

O I Packaging
Ravenscroft Crystal
Prestige Decanters
Saver Glass
New Genius Glass
N R S Glass Suppliers
Quality Products of India (QPI)

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Market Segmentation:

based on material:

Crystal Glass
Regular Glass

based on shape:

Swan
Cornett
Duck
Standard
Small sized base
Medium sized base
Large sized base

based on Capacity into:

Up to 250 ml
250 ml-500 ml
500 ml-750 ml
750 ml and above

based on end use into:

Wines
Red wine
White Wine
Rosé
Whiskey
Brandy
Cocktails

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Rising Demand: Global Custom Binders Market to Surge to US$ 60.2 Billion by 2033, Driven by 6.4% CAGR and Packaging Innovations

The global custom binders market, currently valued at $32.4 billion in 2023, is poised for remarkable expansion with a projected CAGR of 6.4%. The market’s ascent to $60.2 billion by 2033 is driven by packaging advancements and other growth factors, including rising usage across diverse end-use industries, amplified spending particularly in developing regions, and the Asia Pacific region’s dominance in the global custom binder market share.

Custom binders serve as organized and attractive tools for presenting information, finding application across industries like healthcare, hospitality, retail, and manufacturing. Available in various types such as paperboard, vinyl, and eco-friendly, these binders are crafted from materials like paper, plastic, PVC, and PE. Beyond organization, custom binders enhance brand identity and attract potential clients.

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Demand for these binders is further propelled by their use in printing, storage, business communication, labels, and packaging, fostering the market’s growth. With features including colors, textures, shapes, custom printing, and extra closures, custom binders are favored for keeping valuable documents organized and secure over time. While digitalization, substitute products, board quality, and consumer preferences impact the global demand for custom binders, their expanding role in various industries ensures their market trajectory remains dynamic.

Future Growth Trajectories:

Personalization Innovation: Companies will increasingly offer advanced personalization options, allowing customers to customize binders with unique designs, materials, and features tailored to their specific needs and preferences.
Sustainability Focus: The market will witness a surge in demand for eco-friendly and sustainable custom binders made from recycled materials, as consumers become more environmentally conscious and prioritize sustainable products.
Digital Integration: Custom binder manufacturers will integrate digital technologies such as augmented reality (AR) and QR codes to enhance user experience, providing interactive features and digital content storage capabilities.
On-Demand Manufacturing: With the rise of on-demand manufacturing technologies like 3D printing, the custom binders market will experience a shift towards more efficient and cost-effective production processes, enabling quick turnaround times and reduced inventory overheads.
Corporate Branding Solutions: Businesses will increasingly utilize custom binders as branding solutions, seeking unique designs and high-quality materials to reinforce their corporate identity and enhance brand recognition in a competitive market landscape.

Upcoming Trends in the Custom Binders Industry:

Digital Catalogs and Online Customization Platforms: Companies will leverage digital platforms to streamline the custom binder ordering process, offering interactive catalogs and online customization tools that allow customers to design and personalize binders from anywhere, anytime.
Smart Binder Technology: The integration of smart technology into custom binders will become more prevalent, with features such as RFID tags for inventory tracking, digital locking mechanisms for security, and integrated wireless charging capabilities for electronic devices.
Modular and Customizable Designs: Manufacturers will focus on developing modular binder systems that allow users to easily add or remove components, customize layouts, and adapt the binder’s functionality to accommodate changing needs and preferences.
Collaborative Design Approaches: Collaborative design platforms will emerge, enabling customers to co-create custom binder designs with manufacturers and designers in real-time, fostering greater engagement and creative input throughout the design process.
Emphasis on Durability and Longevity: As customers seek durable and long-lasting solutions, the custom binders market will see a trend towards the use of high-quality materials and construction techniques that ensure longevity and withstand frequent use in various environments.

Competitive Landscape

Creative Packaging, Inc.
Heinn Chapman Corp
The Dimensional Group
Command Plastic Corp
Norwood Systems
Admiral Plastics Pty Ltd
PackZen Packaging
Skyline Book Binding Machines and Supplies

Key players in the Asia Pacific region of the custom binders market are:

Dongguan Fengze Stationery Ltd.
MM Binders
Shenzhen Yiergao Stationery Co., Ltd.
Marumizu-Gumi
Gradco Japan Ltd

How has Covid-19 Impacted the Growth of the Custom Binders Market?

With the shift to online learning, work from home, most students and business customers have shifted their focus from custom binders to updating the information online.

Manual binding of government records and industrial records was the norm in various industries such as educational institutes, banking, judiciary and many others but with the advent of the Covid 19 pandemic, people are forced to archiving all the works into digital that led to a paperless office system on a large scale. Although there has been a major decline in the custom binders market, it is expected to witness a slow recovery during the forecasted period.

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Key Segmentation:

Based on the Material Type

Paper & Paperboard
Plastic
Polyvinyl Chloride (PVC)
Polyethylene (PE)

Based on the Product Type

Hardcover binders
Decorative binders
Softcover binders
Punchless binders
Ring binders

Based on End Use

Institutional
Commercial
Household

Based on Region

North America
Latin America
Europe
South Asia
East Asia
MEA
Oceania

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