Market Research Blog – Page 3842 – New Product Development

Event Apps Market Surges: Anticipated to Attain an Astounding Valuation of US$ 5,186.97 Billion by 2033, Propelled by a Strong 14.2% CAGR

The event apps market is expected to experience a significant growth surge in the coming decade, with a projected value of approximately US$ 5,186.97 billion by the year 2033. This remarkable growth is set to ride a wave of compound annual growth rate (CAGR) of 14.2%.

The market for applications designed for events, such as conferences, concerts, and gatherings, is poised for substantial expansion. These apps are becoming increasingly vital for planning and organizing events efficiently. The projected CAGR of 14.2% indicates that this market is anticipated to grow steadily year after year, ultimately reaching an impressive valuation of over US$ 5 trillion by 2033. This growth is reflective of the growing reliance on technology and digital solutions for event management and is expected to benefit both event organizers and attendees, making events more seamless and enjoyable experiences.

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Expanding eCommerce Industry Fueling the Market:

With the increased emphasis on mobile-assisted purchasing, the e-commerce business has grown at an exponential rate in recent years. Customers’ browsing flexibility is increased by mobile phones, which provide not only product selection but also browsing flexibility. Marketers can now use omnichannel marketing techniques because of the increased popularity of m-commerce apps on mobile phones. As a result, numerous retailers are turning to mobile to increase sales.

For example, in March 2018, the Government of India’s Ministry of Tribal Affairs announced the commencement of a digital commerce project. It is centered on e-commerce and m-commerce platforms. As a result of the increased emphasis on providing an omnichannel market experience, increases mobile-based m-commerce app usage. Throughout the projected period, this may boost the worldwide mobile app market.

Hybrid mobile apps are apps that use web technologies like Hypertext Markup Language (HTML) and JavaScript. These hybrid mobile apps are hosted in the native application, which creates mobile-compatible web apps using mobile WebView.

This gives the program access to the device’s hardware components, such as the accelerometer and camera, among others. This arrangement allows for the development of mobile apps using native mobile infrastructure as well as the hosting of web-based content.

Digitization is Required to Revive Small and Medium-sized Businesses

Several small and medium-sized businesses have closed, necessitating the need for these types of mobile event apps. In addition, the growth in sizable and medium-sized businesses, particularly in developing countries, may boost the market in the future. Moreover, the mobile event apps market is predicted to expand tremendously among the mobile user population in emerging countries.

Key Takeaways from the Event Apps Market Report:

The market is expected to surpass US$ 5,186.97 billion by 2033.
The market is being driven by rising mobile usage and the growing trend of digitization in business promotion to reach out to consumers.
The market is expected to thrive at a CAGR of 14.2% during the forecast period 2023 to 2033.
North America dominated the event apps market.

Leading Key Players:

Whova
Double Dutch
Core-apps
Aventri
Eventfuel.io
Spot Me
Yapp
Event Mobi
Attendify
Socio
Whova Inc
Crowd Compass

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Key Development in the Market

In 2021, Event Base, the leading technology provider for workplace events, collaborated with LiveSafe to integrate fundamental LiveSafe capabilities for conference and event security. The LiveSafe platform is now available as an a-la-carte option for Event-based clients. Allowing for seamless communication between event attendees and the security team in the responsibility of ensuring their safety.
in 2022, During Cvent’s client conference, the firm revealed the new Cvent App Marketplace. The new marketplace also serves as a collaborative space for other notable technology partners to build ready-to-use apps. Moreover, the Cvent platform allows its capabilities to be expanded and tailored.

Event Apps Market Segmentation:

By Type:

Enterprise Event Apps
Hybrid Apps
Meeting Apps
Conference Apps
Trade Show Apps
Festival Apps
Sports Event Apps

By Operating System:

IOS
Android
Web-based

By End User:

Event Organizers and Planners
Corporates
Government
Education

By Region:

North America Market
Europe Market
Asia Pacific Market
South America Market
Middle East & Africa Market

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Track and Trace Solutions Market Soars: Anticipated Valuation of US$ 33.52 Billion by 2033, Fueled by a Striking CAGR of 17.8%

The global track and trace solutions market is expected to experience substantial growth between 2023 and 2033. According to a research report from FMI, the market is predicted to exceed a value of US$ 6.51 billion in 2023 and is estimated to reach US$ 33.52 billion by 2033. This represents a remarkable CAGR of 17.8% during the same period.

Tracking and tracing solutions are essential in providing real-time product location data and maintaining a record of the supply chain’s history. The growing emphasis on improving supply chain efficiency is expected to boost the demand for track and trace solutions. This increase in demand is likely to be experienced across various end-use industries, including electrical and electronics, automotive, pharmaceutical, cosmetics, and others.

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Asia Pacific is poised to attain rapid growth in the coming years. The increasing population and industrialization across India and China are boosting the demand for effective solutions that track products during their entire lifecycle. China is likely to hold a dominant share of Asia Pacific market due to strong retail and e-commerce chains and the presence of prominent electrical and electronic component providers.

The expanding pharmaceutical industry in India is likely to create growth avenues. As a result, many track and trace solution providers are fortifying their capabilities to cater to the growing demand. For instance, DHL Logistics Company aims to launch more than 10,000 cargos with traceability and tracking capabilities in India by 2025.

Europe is anticipated to gain considerable growth during the forecast period. The increasing government regulations are expected to favor market expansion. Additionally, the rising adoption of track and trace solutions in the automobile industry to track cargo supplies, car deliveries, and others is expected to fuel market growth in Europe.

Key Takeaways from Track and Trace Solutions Market Report:

In 2018, the global market size at nearly US$ 2.87 billion.
In 2022, the global market share accounted for US$ 5.53 billion in 2022.
The software segment is anticipated to acquire a prominent market share due to the growing demand for data analytics and business intelligence.
The pharmaceutical segment is anticipated to attain immense due to increasing health complexities across the ever-increasing global population.
The United States is likely to dominate the region due to the presence of prominent companies across various industries, including pharmaceuticals, automobiles, retail and e-commerce, and others.

Recent Developments:

Systech International Inc. established a partnership with Spherity in August 2022 to offer pharmaceutical solutions with more secure traceability. In accordance with the Drug Supply Chain Security Act, businesses are collaborating to provide quick and simple integrated solutions.
In February 2023, DispatchTrack, a provider of last-mile delivery services, released a new track and trace feature to its last-mile platform. This feature allows for the collection, organization, and presentation of large amounts of data to provide consumers with the precise information they require.

Leading Key Players:

METTLER-TOLEDO
Laetus GmbH
Systech Interntaional Inc.
Zebra Technologies Corporation
IBM Corporation
SAP SE
Accenture PLC
Siemens S.A.
Honeywell International Inc.
HCL Technologies

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Track and Trace Solution Market Segmentation:

By Component:

Software
Hardware

By Technology:

Linear Barcode
2D Barcode
Radiofrequency Identification
Others in Track and Trace Solution

By Type:

Serialization
Aggregation

By End-user:

Pharmaceutical
Consumer Durables
Retail and Ecommerce
Automobile
Electrical and Electronics

By Region:

orth America Market
Asia Pacific Market
Europe Market
Latin America Market
the Middle East and Africa Market

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IP Camera Market Expected to Surge to US$ 31.3 Billion by 2033 at a Staggering 9.4% CAGR

The IP camera market is projected to experience significant growth, reaching a total value of US$ 31.3 billion by the year 2033. This growth is expected to occur at an impressive annual rate of 9.4%. In simpler terms, this means that the market for IP cameras, which are digital security cameras, will continue to expand steadily over the next decade, with their overall worth increasing to a substantial level.

Due to increasing home burglaries and squatters, security cameras are becoming more and more important. Today, home security is regarded as one of the top worries for homeowners.

Over the next ten years, it is projected that this factor will fuel growth in the IP camera industry. As urban populations have increased, residential surveillance has become more common.

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Launch of new products is one of the most important strategies for leading companies. Trustworthy businesses are increasing their investments in networking, camera technology, product engagement, and ongoing research & development.

IoT technologies are becoming more popular among homeowners, which will foster market expansion. To increase the safety of their homes, people are mainly shifting toward smart IP cameras over traditional Wi-Fi devices. Those who work in the IP camera sector will gain from this by broadening their presence.

Demand for IP cameras has greatly increased as a result of the launch of infrared cameras, as well as expanding IoT use in video surveillance. Demand for privacy in residential settings, soaring use in business buildings, and expanding support for smart homes are all predicted to enhance IP camera sales. The growing use of smartphones and accessibility of alluring security system payment choices are further pushing the residential industry.

A computer network that is based on an active Wi-Fi and web network can be combined with other systems using that network. Compared to an analog system, an IP surveillance camera CCTV has a number of benefits.

Using IP security cameras with a range of features and technologies, users can record video in HD, handle changing lighting conditions during the day, and occasionally & remotely focus their camera. A few examples of advanced camera characteristics are frames per second, image sensors, camera iris, HD analog technology, remote focus lenses, PTZ technology, video compression, and HD resolution.

Key Takeaways from the IP Camera Market Report:

The global IP camera market exhibited a CAGR of around 1% in the historical period between 2018 and 2022.
Asia Pacific IP camera market size was US$ 5.6 billion in 2022.
The USA IP camera market is expected to be worth US$ 5.2 billion by 2033.
Japan’s IP camera market is expected to create an incremental dollar growth of US$ 3.0 billion by 2033.
Based on components, the hardware segment is expected to surge at a CAGR of 2% from 2023 to 2033.

Leading Key Players:

3DEYE Inc.
Arecont Vision Costar LLC.
Bosch Security Systems GmbH
D-Link Corporation
Honeywell International Inc.
Panasonic Corporation
Hikvision
IDIS
Infinova
ITX Security

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IP Camera Market Segmentation:

By Component:

Hardware
Services

By Product Type:

Fixed
Pan-Tilt-Zoom
Infrared

By Connection:

Consolidated
Distributed

By Application:

Residential
Commercial
Government

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Antimony Free Film Market worth US$ 377.6 Million by 2033: In Depth Research Report

The growing trend toward antimony-free films is anticipated to continue its upward trajectory from 2022 onwards. A combination of factors, including heightened regulatory limitations on antimony usage, a heightened awareness among consumers regarding health and environmental considerations, and an escalating demand for eco-friendly packaging solutions, is propelling the sustained growth of this market. As industries increasingly prioritize sustainability and transparency in their operations, the shift towards antimony-free films aligns with the evolving preferences of both regulatory bodies and environmentally conscious consumers. This trajectory reflects a broader industry commitment to meeting stringent standards while contributing to the global movement for more responsible and eco-friendly packaging practices.

The global Antimony Free Film Market is on a trajectory of significant growth, with a projected market value of US$ 225.3 million in 2023. Anticipated to maintain a robust upward trend, the market is expected to surpass US$ 377.6 million by 2033, reflecting a noteworthy compound annual growth rate (CAGR) of 5.3% throughout the forecast period.

This growth projection underscores the increasing demand for antimony-free films on a global scale, driven by heightened environmental and health awareness, as well as regulatory shifts favouring safer and more sustainable packaging materials.

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Drivers:

Regulatory Compliance: Stringent regulations and guidelines, such as those from health and safety authorities, often require the use of antimony-free packaging in specific industries, encouraging the adoption of these films.
Consumer Safety Concerns: Growing awareness of potential health risks associated with antimony migration from packaging materials has led to increased demand for antimony-free films, which are considered safer for food and beverage applications.
Sustainability Goals: As sustainability becomes a central focus for companies and consumers, the use of antimony-free films aligns with eco-friendly packaging practices, offering a more environmentally responsible choice.
Market Expansion: Expanding applications in various sectors, including food and beverages, pharmaceuticals, and cosmetics, contribute to the growth of the antimony-free film market.
Advancements in Film Technology: Continuous research and development efforts lead to improved performance, strength, and versatility of antimony-free films, expanding their potential applications.

Latest key trends

Nanomaterials play a pivotal role in enhancing the barrier, mechanical, and functional attributes of these films. Manufacturers are harnessing the power of nanoparticles, including metal oxides and clay minerals, to infuse the film matrix with qualities such as flexibility, strength, and exceptional barrier performance. This results in fortified product protection and extended shelf life.

The transition towards eco-friendly packaging is driving a burgeoning trend in the adoption of antimony-free films within the market.

Parallel growth opportunities

The mounting demand for antimony-free films across diverse industries, coupled with the expanding applications of such products, presents profitable opportunities for companies to expand their market presence.

As apprehensions regarding the impact of antimony on human health continue to mount, governments are taking steps to enforce regulations governing the use of antimony. This regulatory environment opens up substantial growth prospects for market players.

Key Market Players:

Amerex Hubei Decon Polyester Co., Ltd.
Mitsubishi Polyester Film GmbH
Ester Industries Ltd.
DJ MicroLaminates, Inc.
Shinkong Synthetic Fibers Corporation
Leadex & Co.
Flex Films
JBF Bahrain W.L.L.

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Segmentation Analysis of the Antimony Free Film Market

Thickness:

50 micron
50-100 micron
100-200 micron
<200 micron

Material Type:

PE Films
PP Films
PET Films

End Use:

Food & Beverages
Pharmaceuticals
Agriculture
Electrical & Electronics
Building & Construction
Cosmetics & Personal Care
Automotive

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Colombia Agro-Tourism Market Eyes an Impressive US$ 7.2 Billion Valuation by 2033 | FMI

The Colombia agro tourism market had a market value of US$ 3.7 billion in 2022, and it is predicted that it would increase at a CAGR of 6.2% from 2023 to 2033 to reach US$ 7.2 billion. One of the advantages that Colombian agrotourism offers its producers is a flood of cash flow during the off-seasons; this is expected to expand the country’s agro tourism business during the upcoming years.

Agro tourism enthusiasts typically opt for lodging at farms and other places where they may observe residents going about their daily lives. Agrotourism is growing in popularity in Colombia, a country recognized for its thriving agriculture, since the local agricultural community is always welcome and eager to share its traditions, connection to the land, and practical methods of life with visitors. The demand for Colombian agrotourism is expanding as tourists become more aware of the benefits of eco-friendly travel. It has been demonstrated that Colombian agrotourism’s increased revenue during the off-seasons may be used to diversify the environment and grow an estate or a farm. The Colombian rural population may diversify their sources of income by using agrotourism.

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Colombia’s coffee culture has become well known around the world since it represents the country’s national identity. This is a major driver of the Colombian agro tourism business throughout the anticipated timeframe. When the price of coffee fell at the time, local farmers decided to add a second source of income by opening their coffee farms to tourists. Other agricultural alternatives for travelers in Colombia include fields of fruit, cocoa, ancestor plants, and flowers. The variety of agricultural farming in Colombia has recently been a major driver of the country’s agro tourism industry.

Key Takeaways from the Market Study

The Colombian agro tourism market increased significantly between 2018 and 2022, with a CAGR of 3.5%.
The recreation activities and events category is expected to increase at a CAGR of 7% from 2023 to 2033, with a leading market share of over 35.5% in 2022.
The market share for offline reservations rose to 45.9% in 2022.
Colombia possessed around 21% of the worldwide agro tourism market share in 2022.

Competitive Landscape

Both small and major firms are launching alluring packages and enhancing their product offerings to appeal to customers throughout the area. Major market players have relied on strategies like product releases and company expansion to boost their market shares as well as stay relevant in the Colombia agro tourism sector. The following are some significant developments in the Colombia agro tourism industry:

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Early in 2022, the Go Electric Eco Tour eGuide was released by the Wellington social company GOOD Travel and Eco Villa. This eGuide is an online handbook designed to entice Kiwis to test drive an electric car and experience outstanding, environmentally friendly lodgings and tours.

Key Players:

GOOD Travel Ltd.
lulocolombia.travel
Travel2latam.com
TERRA COLOMBIA
Zicasso, Inc.
Angloinfo
Bookmundi.com.

More Valuable Insights Available

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

To understand opportunities in the Colombia agro tourism market, the market is segmented on the basis of activities, tour types, consumer demographics, age group, booking channel and region.

Key Segments Profiled in the Colombia Agro Tourism Market

By Activities:

Overnight Stay
Special Events and Festivals
Off the Farm
Recreation Activities and Events

By Tour Types:

Group Travelers
Individual Travelers

By Consumer Demographics:

Men
Women
Kids

By Age Group:

15-25
26-36
36-45
46-55
55 Years and above

By Booking Channel:

Online
Offline

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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Asia Pacific Religious Tourism Market Anticipates a Spiritual Sojourn, Projecting an 11.4% Growth by 2033 | FMI

The Asia Pacific religious tourism market is anticipated to be appraised at US$ 15.8 Billion by 2033, up from US$ 5.3 Billion in 2022.

Religious tourism is one of the earliest forms of tourism in the Asia Pacific region. Religious tourism has become a much larger and widely segmented industry in the recent years. Most of the communities believe that religious tourism is only applied to major pilgrimage destinations. However, religious tourism is not destination oriented.

Religious tourism not only means travelling to holy destinations; it could also mean as travelling for a humanitarian cause. Religious trips can be a prime objective of the journey, but it can also be a part of a voyage to a destination with other attractions as well. It is not necessary that a traveller should belong to some religion to travel to a particular religious spot.

Religious tourism is one of the fastest growing segments of the travel and tourism industry in the Asia Pacific region. There are mainly two kinds of tourists of religious travel in the Asia Pacific region. One – domestic tourists who have a spiritual attachment with the destinations in line with their religious beliefs and two – foreign tourists who have the curiosity to experience a spiritual experience different from their own.

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Religious tourism can be divided into several categories such as religious retreats, pilgrimages, leisure vacations, conventions and rallies, faith-based camps, monastery visits and guest stays, and other religious tourist attractions.

Religious Tourism in Asia Pacific: Drivers and Restraints

Religious tourism helps bring people together for a common cause to admire and protect the heritage of the religion. Religious tourism in the Asia Pacific region is increasing every year due to the growth in the number of domestic and international travellers.

The continuous growth in the Asia Pacific religious tourism industry is attributed to the political stability and increase in income levels of the emerging middle-class population. Most of the developed spiritual destinations in the Asia Pacific region have world-class transport infrastructure, outstanding human resources, and a high degree of ICT readiness, which are driving tourism activities in these destinations.

The increasing willingness of consumers for more authentic experiences and engaging themselves in the cultural and spiritual traditions associated with a particular religion is driving the religious tourism segment in Asia Pacific. Other prominent growth drivers include the high growth in the overall tourism industry in Asia Pacific, emergence of several tourist segments such as national and regional tourist boards and the combined efforts of various travel service providers to extend traditional tourist seasons.

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Several tourist companies and boards are promoting religious tourism ,which is expected to drive the overall tourism industry in this region. The growing global culture where people seek more diversification within a tour and more unusual holidays is further acting as a strong driver for religious tourism in Asia Pacific.

Religious Tourism in Asia Pacific: Key Destinations

There are a lot of sites in Asia Pacific that have gained a lot of importance for religious tourism. There are many places and ancient sites in this region that have a religious influence but have been abandoned long back. Some of the important places in Asia Pacific where religious tourism is practiced are listed below:

Senosji temple, Tokyo
Varanasi, India
Takstang Monastery, Bhutan
Shwedagon Pagoda, Myanmar
Bodh Gaya, India
Wat Phra Kaew, Bangkok

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Players:

Easy Tour Asia Pacific Travel Co. Ltd.
TourTravelWorld.Com
Viator, Inc.
N.S. Travel & Tours Co., Ltd
Go Thailand Tours
Kesari Tours Pvt Ltd
Heritage Tours & Travels
Vansol Travel & Tours

Key Segments in the Asia Pacific Religious Tourism Market

By Type:

Day Trips & Local Gateways
Museums
Pilgrimages
Religious and Heritage Tours
Others

By Booking Channel:

Online Booking
Offline Booking

By Tour Type:

Independent Traveller
Tour Group
Package Traveller

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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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European Union Tourism Market Projected at US$ 1262.97 Billion with an 8% CAGR by 2032 | FMI

The European union tourism market whose worth, as of 2022, was US$ 585 Billion, is anticipated to rise at a CAGR of 8%, with a target valuation of US$ 1262.97 Billion by 2032.

Considered to be a destination for travelers of any kind, and beautified with some glorious places, the European Union tourism market is expected to increase.

The European Union is one of the most loved tourist destinations, and is meant for its historical places. The beaches in this region are clean.

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Moreover, if we talk about countries per se, there are huge number of countries to visit in the European Union. The region is home to some of the most beautiful mountains, and the diverse culture amongst various nations makes the entire region lively.

Not only that, the European Union also contains certain ‘Wonders of the World’ which makes the region a popular holiday destination.

What are the Current Market Dynamics pertaining to European Union Tourism Market?

The European Union is synonymous to some of the most beautiful buildings, and towers. If we talk about towers, France is the country which immediately comes to our mind. It is the home to one of the wonders of the world, which is ‘Eiffel Tower’.

The Eiffel tower is a major tourist attraction, and the tourists from across the world visit France to get a glimpse of Eiffel Tower, which was built for the purpose of celebrating French revolution. The Eiffel Tower is made up of wrought iron.

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The Loire Valley in France is famous historical towns and castles. The place is famous for picturesque landscape.

Key Players

Topdeck
The Natural Adventure Company
G Adventures
Intrepid
Trafalgar
GJ Travel
Shamrocker Adventures
Exodus Travel
On Go tours
Tauck
Tuckan.

Key Segments Profiled in the European Union Tourism Market Survey

By Booking Channel:

Phone booking
Online booking
In person booking

By Consumer Orientation:

Men
Women
Children

By Age group:

15-25 years
26-35 years
36-45 years
46-55 years
56-65 years
66-75 years

By Tour type:

Independent traveller
Tour Group
Package Traveller

By Tourist Type:

Domestic
International

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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Europe Rubber Derived Unrefined Pyrolysis Oil Market Thrives, Projected to Surge Past US$ 12,202.5 Thousand by 2032 Amidst Growing Sustainability Imperatives

With increasing efforts to reduce carbon emissions and dependence on fossil fuels, the market for unrefined pyrolysis oil derived from rubber is expected to thrive, driven by favorable government policies and sustainability initiatives. The Europe rubber derived unrefined pyrolysis oil market is witnessing significant growth due to its potential as a renewable fuel and feedstock substitute.

Sales of rubber derived unrefined pyrolysis oil are projected to increase at a healthy CAGR of 5.5% and top a valuation of US$ 12,202.5 Thousand by 2032. The rubber derived unrefined pyrolysis oil market in Europe is estimated to be valued at around US$ 7,132.3 Thousand by the end of 2022, registering Y-o-Y growth of 5.1%. Demand for rubber derived unrefined pyrolysis oil is anticipated to witness a CAGR of 5.5% in Europe market, opines Future Market Insights (FMI). Increase in government initiatives to decrease the utilization of crude oil derived products to reduce the carbon footprint is expected to drive the market.

Further, rising investment in waste management system including converting waste like tires into hydrocarbon-based products are expected to fuel the demand for rubber derived unrefined pyrolysis oil.

Since waste tire are significantly accumulated in the landfills, key players are witnessing significant opportunities to convert the waste tires to oil through pyrolysis process. Hence, several market participants are making investment backed by government subsidies and incentives for production of oil from waste materials to minimize the waste.

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“Growing investment by private and public firms to develop pyrolysis process for the conversion of waste products to usable fuel is expected to provide significant growth opportunity for the market of rubber derived unrefined pyrolysis oil,” – FMI analyst.

Key Takeaways in Europe Rubber Derived Unrefined Pyrolysis Oil Market:

The rubber derived unrefined pyrolysis oil market in Europe is forecast to reach a value of US$ 12,202.5 Th by the end of the forecast period.
Germany, France and the U.K. to create about two-fifth of the overall revenue generated in the Europe market.
Fast pyrolysis production process to create an incremental $ opportunity of US$ 2,846.1 Th in between the period of 2022 and 2032.
Demand forrubber derived unrefined pyrolysis oil as automotive fuel is anticipated to grow with a growth rate of about 5.8% over the forecast period.

Competitive Landscape in Europe Rubber Derived Unrefined Pyrolysis Oil Market

Key players are investing a significant amount for technology development for the production of oil from various types of waste through pyrolysis process. Prominent manufacturers are entering into the business owing to significant opportunities in the market and are investing in capacity expansion, setting up of production facilities and are collaborating with small and medium size players to enter into the untapped markets.

SABIC
Fortum Oyj
Twence B.V.
Green Fuel Nordic Corporation
Quantafuel AS
Kartepe Endüstriyel Geri Dönüsüm SAN. ve TIC. A.$.
Pyrum Innovations AG
Tasnee

For instance,

BASF had announced an investment plant of about 16 million euros in 2020, collaborating with Pyrum Innovations AG for setting up of production unit for pyrolysis oil manufacturing through tires.

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More insights into the rubber-derived unrefined pyrolysis oil market report

In its latest report, FMI offers an unbiased analysis of the Europe rubber derived unrefined pyrolysis oil market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on production process, end-use, and country.

Rubber Derived Unrefined Pyrolysis Oil Market Segmentation

By Production Process:

Slow Pyrolysis
Fast Pyrolysis
Flash Pyrolysis

By End Use:

Heat & Power
- Boilers
- Gas Turbine
- Diesel Engines
Automotive Fuels

By Country:

Germany
France
UK
Italy
Rest of Europe

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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 5,000 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

Phosphorus Pentasulfide Market Set for Robust Growth: Global Demand Expected to Reach US$ 654.25 Million by 2032, Fueled by Key Applications in Sulfur and Phosphorus Compounds Manufacturing

Phosphorus Pentasulfide is an inorganic compound, generally found in solid form. Phosphorus Pentasulfide appears greenish yellow in color, which sometimes changes to greenish gray color because of the presence of impurities.

The global demand for phosphorus pentasulfide is projected to reach US$ 442 Million in 2022 and is expected to exhibit a compound annual growth rate (CAGR) of 4%, reaching US$ 654.25 Million by 2032. Between 2021 and 2022, the market for phosphorus pentasulfide is forecasted to experience a year-on-year (Y-o-Y) growth rate of 4.7%, rising from $422 million.

Phosphorus Pentasulfide is soluble in carbon disulfide, while it is insoluble in other commonly used solvents such as DMF and DMSO and reacts strongly with them. Also, Phosphorus Pentasulfide reacts with moisture or water to produce hydrogen sulfide, which is a highly flammable and toxic gas.

Phosphorus Pentasulfide also produces phosphorus pentaoxide upon its reaction with water, which emits toxic fumes, whose mixture in air can create an explosive hazard. Phosphorus Pentasulfide is easily ignited due to friction and also contact with sparks.

Phosphorus Pentasulfide has the same smell as that of hydrogen sulfide, similar to the stench of rotten eggs. Phosphorus Pentasulfide is dangerous for human contact, and causes severe irritation to the eyes and skin, with possibilities of long term damage.

Inhalation of Phosphorus Pentasulfide can damage the nose and throat, while exposure in high quantity can lead to a person suffering anosmia (a condition where patient loses sense of smell). There are many other detrimental effects of exposure to Phosphorus Pentasulfide such as nausea, dizziness, sweating, and weakness. Some research has also indicated to the possibility of Phosphorus Pentasulfide being a carcinogen for humans.

The corrosive and toxic nature of Phosphorus Pentasulfide, combined with its reactive properties and fire hazards, have led the substance to be highly regulated by government bodies across the world.

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The US Occupational Safety and Health Administration (OSHA) has included Phosphorus Pentasulfide on its “Hazardous Substance List”, which leads to the mandatory following of set guidelines and safety measures while manufacturing, transporting and using the substance.

Phosphorus Pentasulfide is subject to similar regulations across other regions as well. Phosphorus Pentasulfide is utilized for various industrial applications and finds use in the chemicals, automotive and agricultural sectors. Phosphorus Pentasulfide is usually supplied by manufacturers in the form of flakes, powder or granules.

Considering these aspects of the Phosphorus Pentasulfide, the study of the trends and forecasts of the Phosphorus Pentasulfide market becomes an important read.

Phosphorus Pentasulfide Market: Dynamics

Phosphorus Pentasulfide is used in the manufacturing of sulfur and phosphorus containing compounds. One of the key applications of Phosphorus Pentasulfide is in the manufacture of phosphorus based additives, particularly zinc-dithio-phosphates (ZDDP).

Phosphorus Pentasulfide is used as a raw material for producing ZDPP, which is a phosphorus based lubricant additive. ZDPP is used extensively as an ingredient in motor oils, where it works as an anti-corrosive and anti-wear agent.

The phosphorus containing coating of ZDPP compounds inhibits friction between metallic parts of an automotive. Another key application of Phosphorus Pentasulfide is in the synthesis of pesticides. Agricultural pesticides such as Malathion and Parathion are key examples of pest control products manufactured from Phosphorus Pentasulfide. Malathion is a widely used organophosphate insecticide, which is used not only in agriculture, but also for public health purposes, such as mosquito eradication.

The use of Parathion has come under intense regulation due to its toxic nature, which has curbed its application in many countries. Phosphorus Pentasulfide is also used to produce flotation agents, which are used in the mining industry for enhancing mineral recovery.

Phosphorus Pentasulfide is also used in the production of safety matches, courtesy its highly reactive nature and ignition triggered by friction. Thus there is significant use of Phosphorus Pentasulfide in multiple industries. However, demand for Phosphorus Pentasulfide will be driven primarily by the agriculture and automotive sectors.

Phosphorus Pentasulfide Market: Regional Outlook

Demand for Phosphorus Pentasulfide is projected to grow at a moderate pace in the next few years. Asia Pacific region is expected to be a significant market for Phosphorus Pentasulfide, with growing production of agricultural pesticides.

The large automotive industry in the region also makes it a key consumption hub of lubrication additives manufactured from Phosphorus Pentasulfide. North America and Europe are also key regional market for Phosphorus Pentasulfide market, although stringent regulations regarding toxicity, industrial health & safety and environment will impact demand growth.

The import and use of the pesticide Parathion is banned by nearly 50 countries across the world. China, Japan, U.S., and India are few of the important country level markets for Phosphorus Pentasulfide.

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Phosphorus Pentasulfide Market: Market Participants

Examples of some of the market participants identified in the Phosphorus Pentasulfide market include,

Sigma-Aldrich Corporation
Hangzhou Yuhao Chemical Technology Co., Ltd
American Elements
Thermo Fisher Scientific
Italmatch Chemicals S.p.A.
Liaoning Ruixing Chemical Group Co., Ltd.
Fosfoquim SA
Santai Aostar Phosphate Chemical Industry Co., Ltd.
Premier Solutions (Israel Chemicals Ltd.)
Hubei Xingfa Chemicals Group Co. Ltd.

The research report presents a comprehensive assessment of the Phosphorus Pentasulfide market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.

Key Segments Covered in the Phosphorus Pentasulfide Industry Report

By Form:

Phosphorus Pentasulfide Flakes
Phosphorus Pentasulfide Powder
Phosphorus Pentasulfide Granules

By Application:

Lubricant Additive
Pesticide and Insecticide Manufacturing
Flotation Agent Manufacturing
Safety Matches Manufacturing
Other Applications

By End Use:

Automotive
Agriculture
Mining
Chemicals
Other End Use

By Region:

North America
Latin America
Europe
Asia Pacific
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 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

Rising Industrial Adoption of Plastics and Polymers Drives Global Aluminum Hydroxide Market to Anticipated US$ 2.8 billion Valuation with a 5% CAGR by 2032

Aluminum hydroxide is an inorganic basic compound which is amphoteric in nature. Aluminum hydroxide is found in nature in the form mineral gibbsite. Generally aluminum hydroxide is white colored powder in nature. Aluminum hydroxide is also known under the name of hydrate of alumina or aluminum trihydrate. Aluminum hydroxide is one of the important component in aluminum ore i.e. bauxite. The freshly precipitated aluminum hydroxide is present in the form of gel. Commercially aluminum hydroxide is produced by Bayer’s process in which bauxite is dissolved into sodium hydroxide and the temperature is maintained upto270?C. Aluminum hydroxide is used as a raw material for the production of various aluminum based compounds such as aluminum chlorides, zeolites, aluminum oxide etc.

The global aluminum hydroxide market is expected to reach a valuation of US$ 2.8 Billion, exhibiting a CAGR of 5% over the forecast period 2022-2032.

Aluminum hydroxide is an important part of the aluminum hydroxide market. Aluminum hydroxide is used as a flocculent in water purification process. Aluminum hydroxide is also finding its application as an adsorbent or desiccant in gas purification process. In pharmaceutical industry aluminum hydroxide is used in the formulation of antacids due to its basic properties. Aluminum hydroxide is also used as filler material for fire retardants.

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Aluminum Hydroxide Market: Dynamics

Polymers and plastics play a crucial role in this swiftly advancing modern industrial world, to increase the durability and enhance the properties of the plastics & polymers various additives such as flame retardants are being used. Increasing consumption of plastics & polymers is uprising the demand for fire retardants, which is a prime factor driving the growth of aluminum hydroxide market. Increasing water pollution and increased environmental concern has elevated the need for waste water treatment, owing to which there rise in the demand for aluminum hydroxide.

Up surged consumption of cosmetics and personal care products is positively influencing the aluminum hydroxide market. Swift growth of chemicals and paper & printing ink industry is a positive impact for the aluminum hydroxide market. Rising population & increased urbanization has led to the growth of textile industry which in turn has resulted into the growth of aluminum hydroxide market. Adaptation of hard and fast lifestyle has resulted into the increase in the problems such as acidity. Due to which, antacids are one of the popular medicine amongst the consumers, rising uptake of antacids is fueling the demand for aluminum hydroxide.

Aluminum Hydroxide Market: Regional Outlook

Chemicals and pharmaceutical industries are flourishing in the regions of Asia Pacific. Also the rising population in Asia Pacific has triggered the rise in consumption of cosmetics & personal care products. Asia Pacific is also estimated to witness growth in the industries such as textiles, paper & printing inks etc. owing to the aforementioned factors Asia Pacific can be considered as prominent market for aluminum hydroxide. There is significant presence of chemical and pharmaceuticals industry in the regions such as North America and Europe, besides it rising adoption of polymers & plastics and surging demand for fire retardants to meet up quality requirements & to enhance the durability of polymers is expected to drive the growth of aluminum hydroxide market in these regions.

Aluminum Hydroxide Market: Key Participants

Examples of some of the market participants operating in the global aluminum hydroxide market are

Magxid Fine Chem
Sumitomo Chemical Co., Ltd.
Albemarle Corporation
Radhaji Pharma Chem
P J Chemicals
Avanschem
Showa Denko
Nabeltec AG
Huber Engineered Materials
Nashtec LLC
MAL Hungarian Aluminium
Hindalco Chemicals

The Aluminum Hydroxide pigment market research report presents a comprehensive assessment of the Aluminum Hydroxide pigment market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Aluminum Hydroxide pigment market research report provides analysis and information according to Aluminum Hydroxide pigment market segments such as geographies, application and industry.

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Key Segments Profiled in the Aluminum Hydroxide Market Survey

By Grade:

Pharmaceutical grade
Industrial grade

By Form:

Powder
Gel

By Application:

Flocculants
Adsorbent
Desiccant
Filler
Catalyst
Antacid formulations

By End User:

Wastewater Treatment
Plastics & Polymers
Pharmaceuticals
Chemicals
Cosmetics & Personal Care
Textiles
Paper & Printing Inks

By Region:

North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordics)
Eastern Europe (Russia, Poland, CIS)
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

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