Global Polypropylene Market Achieves Remarkable 4.5% YoY Growth in 2030, Future Market Insights Forecasts a Whopping US$ 117,513.8 Million Valuation by 2030

Future Market Insights has forecast the global polypropylene sales to reach a valuation of US$ 117,513.8 Million in 2030. Revising its market forecast to negative 2.1% (volume) for 2022, the ESOMAR-certified market research and consulting firm remains bullish on the long-term prospects of the market.

The COVID-19-induced subdued momentum, especially in construction and automotive sectors, is likely to hurt the interests of polypropylene market stakeholders in the short run, opines a new study by Future Market Insights (FMI)

According to the study, “Despite a bearish rally for polypropylene over the last three months, a more positive outlook for oil will pave the way for brighter polypropylene settlements in the near term.”

Polypropylene demand decline has been more pervasive vis-à-vis its other plastic variants in automotive and this will continue till the resumption of manufacturing operations. However, high sales of spun-bound and melt-blown polypropylene grades in the production of PPE and masks can offset some of the losses, opines FMI’s new study.

“The production of polypropylene requires a substantial amount of capital investment. Re-use and recyclability will not only reduce overall investment cost but also substantially reduce carbon emissions” – FMI analyst.

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Key Takeaways of Global Polypropylene Market Study

  • Polypropylene, being 20%-25% lighter than conventional plastic variants will witness robust demand in the lightweight automotive category in the long run
  • With crude oil prices moving well below the US$ 30 per barrel, low purchase costs of feedstock such as propylene will offer lifelines to polypropylene manufacturers
  • Innovations in polypropylene packaging solutions continue to offer material savings to manufacturers up to 60%
  • Superior Fluid Catalytic Cracking (FCC) additives for optimizing feedstock yields of propylene are set to expand profit pools of refineries thus having a positive impact on the overall growth of the polypropylene market

Competitive Landscape of Polypropylene Market

Borealis, one of the key players has been continuously extending support to all its partners in the polypropylene value chain to make the shift to polypropylene solutions that are viable in sustainable packaging.

Both Sabic and BASF have engineered newer processes to recycle polypropylene from a low-value, low-quality plastic to a pre-consumer plastic that can be effectively used in a number of food packaging applications. BASF has also collaborated with Jaguar to convert plastic waste into high-end automotive parts.

SCG has come out with a technology called as SMX that minimizes the utilization of plastic and paves way for applications in film packaging and chemical drums with more impact resistance and perforation.

Lucrative Market Conditions in China and India Make East Asia a Regional Goliath

East Asia’s prominence in the polypropylene market is likely to continue unabated owing to its fast growing automotive and construction sectors.

Another key factor driving growth of polypropylene market in East Asia is the focus of manufacturers on customization of product portfolio as per specific applications. In East Asia, polypropylene is being prominently used in BOPP film, injection moldings, and Raffia/Thermoforming.

With viral epicenters having shifted to countries such as India, demand for polypropylene grades is robust in packaging and medical applications. Production appetite for bottle caps and closures in medical, hygiene, and pharmaceutical applications has led to significant improvements in the demand outlook for East Asia

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Looking for More Information?

A market report on Polypropylene published by Future Market Insights brings to the fore a pin-point analysis of the market and offers comprehensive information with historical demand data for 2015-2021 and forecast statistics for 2022-2030. The study offers insightful information on the global Polypropylene market based on various categories–product grade (HP, RCP, ICP, and TPO), and application (BOPP Film, Raffia/Thermoforming, Fibres & Filaments, Spun Bond Non-Wovens, Melt Blown Non-Wovens, Injection Moldings, Blow Moldings, Cast & Water Quenched Film, Cast & Water Quenched Film, Pipe & Sheet, and Transparent TPO).

Key Companies Profiled

  1. BASF SE
  2. SABIC
  3. Exxon Mobil Corporation
  4. Eastman Chemical Company
  5. Lotte Chemical
  6. LG Chem
  7. Petro China Company Limited
  8. INEOS
  9. Rongsheng Petrochemical Co., Ltd.
  10. Borealis AG
  11. Formosa Plastics Corporation
  12. Advanced Petrochemical Company
  13. Japan Polypropylene Corporation
  14. Braskem
  15. Westlake Chemical Corporation
  16. LyondellBasell Industries N.V.
  17. Reliance Industries Limited
  18. China Petrochemical Corporation (Sinopec Ltd)

Polypropylene Markey by Category

By Product Type:

  • HP
  • RCP
  • ICP
  • TPO

By Application:

  • BOPP Film
  • Raffia/Thermoforming
  • Fibres & Filaments
  • Spun Bond Non-woven
  • Melt Blown Non-woven
  • Injection Moulding
  • Blow Moulding
  • Cast & Water Quenched Film
  • Pipe & Sheet
  • Transparent TPO

By Region:             

  • APEC
  • China
  • Europe
  • INS
  • Turkey
  • Vietnam
  • W-Africa
  • E-Africa
  • N-Africa
  • Bangladesh
  • CIS-R
  • N-AM
  • C-AM
  • EC-SAM
  • CS-SAM

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
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Barite Market Set to Skyrocket: Global Valuation to Hit US$ 2.0 Billion by 2030, Fueled by North America’s Thriving Oil and Gas Exploration, Booming Construction Sector, and Dominance of Key Market Giants

Global barite market size will cross the US$ 2 Billion mark by the end of 2030. Expansion of the automotive industry is creating revenue streams for manufacturers due to growing demand for brake pads and clutches for cars, as indicated by a new Future Market Insights (FMI) report.

Drilling mud applications are expected to account for substantial revenues amongst all applications, in the global barite market. Untapped opportunities in the medical industry are also generating incremental opportunities for manufacturers. Barite would experience steady demand growth in the paints and plastics industries, as it is widely utilized to control the viscosity and add brightness to end products.

Key companies in the barite market are set to experience disruptions in supply chains owing to recent developments related to the coronavirus crisis. Manufacturers are accelerating efforts to join the fight against the COVID-19 pandemic by taking a step forward to donate barite cement for the construction of a hospital radiotherapy bunker where coronavirus treatments are carried out.

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Key Takeaways of Barite Market Study

  • Innovative approaches in the determination of normal and abnormal anatomy of the gastrointestinal tract with the help of high-purity barite hold promising business potential.
  • Barite is being extensively used as a weighted filler in paper, textile, and rubber production.
  • Manufacturers are focusing on the construction sector where barite is mixed with cement to make special containers used to store radioactive materials.
  • North America being the frontrunner in terms of revenue amongst all regions has created opportunities for manufacturers to comply with the regulations of the American Petroleum Institute to innovate in weighting agents for the oil & gas industry.

Demand for weighting agents in the ever-increasing oil & gas industry are creating a stable business ground for manufacturers. Untapped opportunities in construction industry owing to demand for high density cement is fueling market growth.

Lucrative Opportunities in Paints & Coatings

Companies in the barite market are increasing their production capabilities to manufacture paint-grade barite powder. This has deployed ease in handling and beneficial in transportation activities. High whiteness, low impurity, and excellent dispensability are key imperatives that are highly preferred in paint-grade barite powder.

Latex paints, coatings, and pigments amongst others are fuelling demand for barite powder. An increasing number of powder coatings applications in households and other interior applications are generating value-grab opportunities for manufacturers.

Demand for Weighting Materials in the Petroleum Industry to Bolster Market Growth

Fine grinding applications are catalyzing the demand for barium sulfate, owing to its high density and chemical inertness. An overwhelming majority of barite is being pervasively used in the petroleum industry as a weighting agent in the formulation of drilling mud. As such, the revenue of drilling mud applications is predicted to climb high growth from US$ 1 Billion in 2022 to US$ 1.4 Billion by the end of 2030. Commercial deposits of barite are primarily found in the US, China, India, and Morocco.

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Manufacturers Prepare for Volatile Demand Amidst COVID-19 Pandemic

Employee and worker safety amidst the coronavirus crisis has become the first priority of companies in the barite market. Hence, manufacturers have adopted telecommunication to support remotely via phones, Skype and VPN amongst other communication platforms.

Global economic turbulences are anticipated to affect the barite market. Manufacturers are increasing efforts to devise contingency plans to address the uncertainty associated with lockdown relaxations in the upcoming months

Key Companies Profiled

  1. Milwhite
  2. Corpomin
  3. Excalibar Minerals
  4. International Earth Products LLC.
  5. BariteWorld
  6. The Kish Company, Inc.
  7. New Riverside Ochre Company, Inc.
  8. Global Reach FZE
  9. Andhra Pradesh Mineral Development

Barite Market by Category

By Form:

  • Lumps
  • Powder

By Grade:

  • Up to SP 3.9
  • SP 4.0
  • SP 4.1
  • SP 4.2
  • SP 4.3 and Above

By Application:

  • Drilling Mud
  • Pharmaceuticals
  • Rubbers & Plastics
  • Paints & Coatings
  • Textiles
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • MEA

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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
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Potassium Chloride Market Anticipating a Striking Growth to US$ 18,102.7 million by 2033, Fueled by Diverse Applications in Pharmaceuticals, Agriculture, Water Treatment, and Beyond

Potassium chloride, also known as potassium salt or sylvite, comes across as a metal halide containing potassium and chlorine. The global potassium chloride market is worth US$ 13.08 Billion as of now and is expected to reach US$ 18.10 Billion by the year 2033 at a CAGR of 3.3% between 2023 and 2033.

Apart from being odorless and colorless, it is easily soluble in water and does have a salt-like taste. The end-user applications include medicines, fertilizers, food processing, and likewise. The other area of application includes ‘de-icing’, which is safer for animals and plants.

Potassium chloride is the basic raw material used in the form of feedstock for several potassium compounds in soldering, welding, and casting. It’s another application is that of a coagulant in the treatment of drinking water for removing impurities.

It finds its presence as a softener in the textile industry as well. In the kitchens, it could be used as a substitute for salt. Plus, rising demand for fertilizers is expected to take the potassium chloride market by storm in the near future.

Potassium chloride is used as a source of potassium ions that are necessary for several physiological processes like maintenance of balance between electrolytes and fluids and transmission of nerve impulses.

Electrolyte replacement solutions could be used for treating conditions such as dehydration, thereby replenishing levels of potassium in the body. It’s used to administer high blood pressure medications and it’s used in conjunction with other drugs for treating hypertension.

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Coming to heart-related medications, it’s used for regulating heart rhythm and preventing complications. It’s also used in muscle relaxants to relieve muscle cramps and spasms. The extended uses include intravenous solutions, capsules, oral tablets, and extended-release formulations.

As a fertilizer, potassium chloride helps in regulating plant CO2 intake, photosynthesis, water retention, enhancing resistance to diseases and pests, and water uptake through roots. It also needs to be noted that agricultural-grade potassium chloride’s purity lay between 95% to 99%.

At the same time, the fact that potassium chloride does involve extracting minerals from salt mines could not be ignored. This could result in environmental degradation and restrain the potassium chloride market in the long run.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Potassium Chloride Market’. It has its team of analysts and consultants to execute using a bottom-up approach along its macros and micros.

“With healthcare, glass, metal, and petroleum sectors asking for potassium chloride, the global potassium chloride market is expected to grow inadvertently in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from the Potassium Chloride Market

  • North America holds the largest market share on the back of the US witnessing an excessive demand for potassium chloride in the pharmaceuticals vertical.
  • Europe, the Asia-Pacific, and MEA are expected to follow suit on similar lines in the potassium chloride market going forward.

Competitive Analysis

  • Chemtrade, in November 2021, did announce that it completed sales of its specialty chemical business with Vertellus for close to US$ 155 Million, wherein the former did sell its KCl (potassium chloride), caustic pellets, and vaccine adjuvants business to the latter.
  • Veolia Water Technology, in July 2020, announced that the company would be expanding its Jordan potash fertilizer plant crystallization capacity. Veolia does supply processing facility for extracting premium potash fertilizer from the brines of the Dead Sea.
  • Verkhnekamsk, in December 2020, finished with skip graft sinking at the Talitsky Mine construction site.

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Key Companies Profiled

  1. Nutrien Ltd.
  2. The Mosiac Company
  3. K+S KALI GmbH
  4. Israel Chemicals Ltd
  5. EuroChem
  6. Uralkali
  7. JSC Belaruskali
  8. SQM S.A.
  9. Intrepid Potash, Inc.
  10. Arab Potash Company

Global Potassium Chloride Market by Category

By Grade:

  • Agricultural Grade
  • Chemical / Industrial Grade

By Crop:

  • Cereals
  • Oilseeds
  • Fiber and Sugar
  • Fruits & Vegetables

By Application:

  • Agriculture
  • De-icer
  • Water Softeners
  • Industrial

By Region:

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

What does the Report state?

  • The research study is based on grade (agricultural grade and chemical/industrial grade), by crop (oilseeds, cereals, sugar and fiber, and fruits & vegetables), and by application (de-icer, agriculture, water softeners, and industrial).
  • Being colorless (or occasionally white), potassium chloride proves to be an ideal choice for agriculture. This factor is expected to take the potassium chloride market by storm in the years to come.

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
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Global Colloidal Silica Market Achieves Milestone with Projected Sales Surpassing US$ 342.3 million by 2030, Fueled by Robust Demand Across Diverse Industries

With a favorable demand outlook, the market is projected to expand at a steady 3.9% CAGR, reaching US$ 342.3 Million by 2030. Sales in the global colloidal silica market size are slated to top US$ 252.0 Million in 2022.

Colloidal silica is finding immense use in the electronics & semiconductor industry, wherein, it plays a critical role in the production of ultra-flat, uniform, and low-detection surfaces for semiconductors. Moreover, colloidal silica is used as a rough surface remover and as a polishing additive. It is extensively used for electropolishing to remove microscopic layers of metal particles from surfaces. In addition, the growing electronics & semiconductor industry in South and East Asia is expected to drive the colloidal silica market over the decade ahead. Paints & coatings and paper & pulp industries are also expected to pave the way for market growth in the coming years.

A significant portion of the revenue of the colloidal silica market is realized from the electronics & semiconductors industry. However, this industry is likely to witness a decline in the near term due to the coronavirus (COVID-19) pandemic that is spreading across the world. The onset of the pandemic has resulted in travel bans and isolations, uncertainties in the stock market, and massive disruption of the supply chain. As such, the pandemic would adversely impact the global electronics & semiconductor industry, and, in turn, hamper the growth of the global colloidal silica market.

Get an overview of market drivers and challenges affecting this industry: https://www.futuremarketinsights.com/reports/sample/rep-gb-6499

“Colloidal silica is gaining prominence as a chemical excipient in the pharmaceutical sector for synthesizing tablets such as paracetamol and animal medicines. Players in the colloidal silica market targeting pharmaceutical applications will be better placed for outsized returns.”

Key Takeaways from Global Colloidal Silica Market Study

  • Acidic colloidal silica would remain sought-after, owing to its increasing application in electronics and semiconductors.
  • In terms of consumption, Europe and North America are prominent regions; countries such as Belgium, the US, the Netherlands, Spain, Germany, France, and Italy are prime consumers of colloidal silica.
  • The electronics & semiconductor industry would be the key revenue generator in the colloidal silica market, while the paints & coatings industry is offering growth avenues.
  • Top-line growth of the global chemical industry is expected to augur well for the colloidal silica market.
  • Colloidal silica is extensively used for investment casting as a slurry on base coatings such as zircon flour, and zircon sand, thus, offering further impetus to market growth over the coming years.

Competitive Landscape

Players such as

  • Akzo Nobel N.V (Nouryon Holding BV)
  • Merck KGaA
  • ADEKA Corporation
  • Allied High Tech Products, Inc.
  • Nissan Chemical Corporation
  • The Dow Chemical Company
  • Cabot Corporation
  • Evonik Industries AG
  • Fuso Chemical Co., Ltd.
  • W. R. Grace & Co.-Conn
  • NYACOL Nano Technologies Inc.
  • REMET, Ecolab Inc.
  • Chemiewerk Bad Köstritz GmbH
  • Guangdong Well-Silicasol Co., Ltd.
  • Qingdao Haiyang Chemical Co., Ltd.
  • Jinan Yinfeng Silicon Products Co., Ltd.
  • Sterling Chemicals
  • Makall Group

have invested strategically in the colloidal silica market in the recent past, suggesting that, major manufactures are keeping tabs on the market, as it holds a lot of potential in the coming years. In addition, manufacturers such as Nouryon Holding BV and Evonik Industries AG are strategically increasing their market footprint by expanding their customer base in other regions. R&D, coupled with the expansion of production capacity and footprint, remains the differentiating strategy followed by colloidal silica manufacturers to enhance productivity and capture new market opportunities.

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Colloidal Silica Market by Category

By Product Type:

  • Alkaline Colloidal Silica
  • Acidic Colloidal Silica
  • Modified Colloidal Silica
  • Ordinary Colloidal Silica

By Application:

  • Pulp & Paper
  • Metals & Metallurgy
  • Electronics & Semiconductors
  • Chemicals
  • Paints & Coatings
  • Building & Construction
  • Textiles & Fabrics

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

East Asia to Offer Lucrative Growth Opportunities

East Asia is anticipated to hold a prominent share in the global colloidal silica market, owing to flourishing electronics and semiconductor industries in the region. Manufacturers are focusing on developing products as per end-use applications. Colloidal silica is also significantly used in the production of water-based coatings. Manufactures are thus tapping this opportunity, given increasing preference to water-based solvents in the paints & coatings industry.

Looking for More Information?

The report on the colloidal silica market, published by Future Market Insights, brings to the fore a pin-point analysis of the market, and offers comprehensive information with historical demand data of 2015-2021 and forecast statistics for 2022-2030. The study offers insightful information on the global colloidal silica market based on various categories – product type and application, across seven regions. This study highlights key players who are well-known market vendors and have proven themselves as key shareholders in the global colloidal silica market.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 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
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Sulphur Hexafluoride Market Set to Surge, Projected to Reach a Staggering US$ 487.93 Million by 2033, Fueled by Growing Electronic Device Demand and Medical Sector Adoption

Escalating demand for electronic devices and electricity, as well as the increasing adoption of sulphur hexafluoride in the medical sector, is responsible for the growth of the sulphur hexafluoride market in the forecast period. The global sulphur hexafluoride market is projected to amass a revenue of US$ 487.93 million by 2033 as opposed to US$ 288.37 million in 2023. The market is set to expand at a CAGR of 5.4% from 2023 to 2033. Electronic manufacturers fuel the demand for sulphur hexafluoride so as to develop large appliances with varied operating ranges and conditions. Thus, surging demand for household electronic appliances like TVs, refrigerators, and mixers, among others, will drive the growth of the sulphur hexafluoride market over the upcoming years.

It is estimated that the power and energy sector will record the highest demand for sulphur hexafluoride. Power generating and energy plants and the use of high-voltage electronic equipment will continue to adopt sulphur hexafluoride. Renewable energy plants like wind and gas, too, contribute to the growing demand for sulphur hexafluoride to produce and supply energy to various industries. Moreover, recent years have witnessed a growing demand for sulphur hexafluoride from the healthcare sector due to its usage in plasma processing, medical technology, and other therapeutic processes. The increasing prevalence of chronic ailments, rising number of patients, and surging government expenditure in the healthcare industry will open avenues of growth for the sulphur hexafluoride market. Telecommunication, consumer goods, the electronic industry, and others will also drive the demand for sulphur hexafluoride.

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Sulphur hexafluoride is a colorless and odorless gas that is non-toxic, non-inflammable, and soluble in water. It has superior thermal, electrical, and chemical characteristics which makes the chemical an ideal fit for several applications. Sulphur hexafluoride, thus, finds application in several industries including power, medicine, electronics, glass, metal, and others.

Growing demand for electronic goods like semiconductors, photovoltaic panels, power equipment, and switch gear will amplify the demand for sulphur hexafluoride. The increasing development of power infrastructure along with government aid in this respect will also facilitate the expansion of the sulphur hexafluoride market size. With healthcare and the electrical and electronics industry thriving in the upcoming years and sulphur hexafluoride finding function in these sectors, the prospects for the market look bright during the projection period. However, the market for sulphur hexafluoride also has its share of restrictions. Sulphur hexafluoride has an adverse impact on the atmosphere as its causes global warming. Due to increasing environmental consciousness, sulphur hexafluoride’s negative effect on the environment will likely impede the growth of the market.

Key Takeaways in Sulphur Hexafluoride Market:

  • By end use, the power and energy segment will dominate the global marketplace by acquiring a sizeable portion of the market share.
  • Increasing adoption of sulphur hexafluoride in the healthcare sector will also strengthen the market prospects.
  • The rising application of sulphur hexafluoride in loudspeakers, leak detection, and lasers augurs well for the global market.
  • Developing regions like China, India, and Brazil offer lucrative opportunities to the market due to the dense population, rising disposable income, and favourable government initiatives.

Competitive Landscape in Sulphur Hexafluoride Market 

A few of the significant players in the sulphur hexafluoride market are profiled in the full version of the report

  • Solvay
  • Praxair
  • Honeywell
  • Linde Group
  • Kanto Denka Kogyo
  • Matheson
  • Airgas
  • Chengdu Kemeite
  • Qinghai Xinhe
  • Showa Denko
  • Concorde Specialty Gases
  • Fujian Shaowu Yongfei
  • Advanced Specialty Gases
  • Liming Research Institute
  • Yingde Gases
  • Huaneng Fluorine
  • Shandong Ruihua Fluoride, among others,

Prominent market players are keen on expanding their production facilities and establishing themselves in emerging economies. These organizations also employ various organic and inorganic business strategies.

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More Insights Into Sulphur Hexafluoride Market 

FMI offers an unbiased analysis of the global sulphur hexafluoride market in its latest report, providing historical data and forecast statistics for 2023 to 2033. The report presents a study of a ten-year sales forecast, market drivers, restraints, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented on the basis of application, industry, and region.

FMI predicts that, based on segmentation, the power and energy category will dominate the global marketplace. This segment will create high demand for the market as a key end user. Based on region, developing regions like Brazil, China, and India will present immense potential in the market. Rapid industrialization, growing population, rising disposable income, and increasing government spending in these countries will aid the growth of the market in these developing nations. In developed countries, the sulphur hexafluoride market is shaped by the rapid rise of the aging population and the high prevalence of chronic ailments as these factors amplify the demand for sulphur hexafluoride in the healthcare sector. Thus, extensive use of sulphur hexafluoride in different industrial verticals and contributions from developed and developing regions will aid the global growth of the sulphur hexafluoride market.

Sulphur Hexafluoride Market Segmentation

On the basis of the end-use industry, the global Sulphur hexafluoride market can be segmented as:

  • Electrical & Electronics industry
  • Steel & Metals industry
  • Medical applications
  • Glass Industry
  • Electrostatic loudspeakers
  • Entertainment industry

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
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Sodium Silicate Market Riding High on Diverse Industrial Applications and Green Credentials Amidst Stringent Environmental Regulations

The global sodium silicate market is set to grow at a steady CAGR of 3% during the forecast period (2019 to 2029), as projected by a new report of Future Market Insights (FMI). The growth is primarily fueled by the sodium silicate’s eco-friendly and non-toxic nature, which makes it ideal for numerous industrial applications such as detergents, adhesives, and coating, and deflocculated, among the wide range of industrial applications.

Sodium Silicate Market: Key Findings

  • Silica manufacturing will remain a major application and will significantly contribute to the market share, backed by surging demand for quartz, and precipitated silica.
  • Applications in detergents, pulp & paper, elastomers, food, and healthcare are propelling the demand for sodium silicate.
  • Asia Pacific will outpace other regions and will account for more than half of the global share, owing to increasing infrastructural development, which is propelling the demand for sodium silicate.
  • North America and Europe will collectively account for more than 1/5th of the market share.
  • Developed economies such as the US and UK are expected to provide lucrative opportunities to sodium silicate manufacturers.

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Sodium Silicate Market: Key Driving Factors

  • Rising environmental concerns are pushing manufacturers in paper and pulp manufacturers to adopt eco-friendly raw materials, thereby propelling the sodium silicate market on the back of the material’s nature.
  • Water treatment and soil stabilization applications are increasingly employing sodium silicate as a cleaning agent and pH stabilizer, thus boosting the market.

Sodium Silicate Market: Key Restraint

  • The high cost of raw materials is likely to reduce the profit margins of the market players, thus impacting the overall growth.

Competition Landscape of the Sodium Silicate Market

Some of the key players in the global sodium silicate landscape that are covered in this study include, but are not limited to, American Elements, J.M. Huber Corporation, MALPRO SILICA PRIVATE LIMITED, PPG Industries, Qingdao Dongyue Sodium Silicate Co Ltd, Zaclon, Shijiazhuang Shuanglian Chemical Industry, Tokuyama Corporation, BASF SE, Nippon Chemical Industrial, Evonik Industries AG, and IQE Group., among others. Market players are focusing on expanding to developing markets and research & development activities to develop innovative applications to cater to untapped industries such as welding, cement, agriculture, and food.

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More About the Report

This Future Market Insights study of 250 pages offers actionable insights into the sodium silicate market. The market analysis is based on the application (detergents, catalyst, pulp & paper, elastomers, food & healthcare, & others), across five regions (Asia Pacific, Europe, Middle East & Africa, Latin America and North America).

Sodium Silicate Market: Segmentation

By Application

  • Silica Manufacturing
  • Detergents
  • Catalysts
  • Pulp & paper
  • Elastomers
  • Food & healthcare
  • Others (coating, agriculture, etc.)

By Region

  • North America
  • Latin America
  • Europe
  • MEA
  • Asia Pacific

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
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Revolutionary Trends Unleash 4.6% CAGR Surge: FMI Envisions Dynamic Growth in Global Refinery Catalyst Market from 2022 to 2030, Fueled by Product Diversification and Enhancement

Refinery Catalyst Market
Refinery Catalyst Market

Catalytic processes are imperative for the production of transportation fuels such as gasoline, diesel, jet fuel and others from petroleum. Evolving composition of transportation fuel composition requirements to match the environmental regulations and changes in engine design are expected to drive the refinery catalyst market. Increasing use of transportation fuel is likely to have a direct impact on the demand for refinery catalyst, according to a recent report published by Future Market Insights (FMI).

Environmental regulations are getting stricter across the world. Considering this, with the need for cleaner emission growing stronger, companies are looking for newer ways to reduce their harmful emissions.

In order to adhere to these stringent rules, the use of cleaner emission fuels is encouraged. This has led to high use of low Sulphur fuels as these cause less damage to the environment. Refinery catalysts play a major role as they are critical in reducing Sulphur from fuels. Owing to these applications, global refinery catalyst market is expected to experience a surge in demand.

Furthermore, the increasing uses of different catalysts such as Fluidised Catalytic Cracking (FCC) and Hydroprocessing technologies are poised to boost the market growth. The report offers exclusive insights into the market. Some of the key takeaways are highlighted below:

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Key Takeaways in Refinery Catalyst Market Study:

  • Asia Pacific is expected to emerge as the most lucrative market for refinery catalysts during the forecast period
  • North America and Europe are likely to exhibit witness substantial growth during forecast period 2020-2030
  • FCC is projected to emerge as the most lucrative product type, however, the hydrotreating segment expected to witness highest growth during the forecast period
  • Zeolites likely to remain the highest used ingredient segment
  • Rising use of transportation fuel to boost growth of global refinery market.

“Regulations encouraging the use of cleaner emission fuels are expected to get more stringent in the near future as concerns over environmental safety is taking precedence globally. Hence the role of refinery catalysts in lowering the Sulphur levels of fuels is expected to gain more prominence, providing huge market potential for manufacturing companies in the industry” said an analyst at FMI.

COVID-19 Impact on Refinery Catalyst Market

COVID-19 pandemic is impacting the global economy since its advent. Refining catalyst market is affected by the impact pandemic had on the petrochemical industries across the world. The pandemic has affected all aspects of business.

With restricted productions and lack of labor due to the social distancing norms, the manufacturing companies are still recovering from the impact. This negative impact is expected to lead to a drop in demand of refinery catalysts in 2020.

As transportation was restricted across worst hit countries for a significant time during the year, the demand took a huge dip. Decelerating growth was recorded as crude oil prices went to an all-time low with negative pricing for the first time.

Additionally, with end-use industries affected in the regions such as Asia Pacific, North America and Europe, a significant drop in year on year growth rate is expected. Although the market has suffered losses, it is expected to pick itself up by the beginning of 2021.

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Who is Winning?

Global refinery catalyst market encompasses established players who operate internationally as well as regional players. This has resulted in a highly competitive market. The key strategies adopted by players include strengthening supplier base and improving distributor networks.

Furthermore, product innovations is a key strategy employed by large players to sustain in the market and gain advantage over competitors.  For instance, key player in the global refinery catalyst market, BASF has announced launch of a new fluid catalytic cracking (FCC) catalyst product for gasoil feedstock. It is based on the multiple framework technology (MFT) by BASF.

This new product has confirmed its ability to deliver better economic performance during trials. This is achieved through butylene selectivity, high conversion and coke selective bottoms upgrading in order to increase refiner’s profitability.

Some of the key players in the global refinery catalyst market are Exxon Mobil, Albemarle Corporation, W.R. Grace and Co., Honeywell International Inc., Clariant AG, BASF SE, Axens SA, Haldor Topsoe A/S.

Get to Know More about Refinery Catalyst Market 

The research report analyzes the total sales of refinery catalyst on the basis of volume (Units) and value (US$ Mn). The market is projected on the basis of factors such as petrochemical industry growth, fuel sales, global GDP growth, industry value added, and government regulations. The scope of the research report includes only new sales of refinery catalyst for OEM. The report offers critical insights into the refinery catalysts market in terms of product type (FCC, reforming, hydrotreating, hydrocracking, isomerization and alkylation), ingredients ( zeolites, metals and chemical compounds), and across 5 key regions (North America, Latin America, Europe, Asia Pacific & Middle East & Africa)

Global Refinery Catalyst Market By Category

By Product Type  :

  • FCC (Fluidised Catalytic Cracking)
  • Reforming
  • Hydrotreating
  • Hydrocracking
  • Isomerization & Alkylation

By Ingredients :

  • Zeolites
  • Metals
  • Chemical Compounds

By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • 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
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Driving Innovation Across Industries: Analyzing the Wide-Spread Adoption of Multi-Component Injection Moulding Technology in Automotive, Electronics, and Communication Sectors

The multi-component injection molding technology market is poised for substantial growth according to a recent study by Future Market Insights, projecting a robust CAGR of 9% from 2022 to 2032. Starting at US$ 3 billion in 2022, the market is forecasted to surge to US$ 7.1 billion by 2032.

Sustainable multi-component technologies are revolutionizing manufacturing processes by allowing increased use of recycled materials while maintaining high surface quality. Manufacturers leverage these technologies to innovate designs, optimize product features, and seamlessly integrate functional elements into their products. Moreover, the adoption of fully automated production streamlines manufacturing units, minimizing costs by eliminating assembly steps and rework.

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The efficiency of injection molding machines capable of producing multiple components in the same cell reduces initial investments, saves time and materials, and lowers ongoing operating expenses. Industries like automotive, electronics, and communications capitalize on these advantages, driving the widespread adoption of multi-component injection molding technology.

As automotive manufacturers increasingly rely on multi-component machines for parts production, industry experts anticipate a surge in popularity. With precise reproducibility and applications spanning various sectors, multi-material injection molding technologies are becoming indispensable across the economy, marking a significant technological advancement in industrial manufacturing.

Business Growth Opportunities:

  1. Customization and Specialization: Offer customization options to cater to niche markets and specialized applications. Multi-component injection molding technology allows for the production of complex parts with varying materials, which can be tailored to specific customer needs.
  2. Expansion of Product Lines: Diversify product offerings by leveraging multi-component injection molding technology to create new products or enhance existing ones. Explore opportunities to introduce innovative designs and functionalities to capture new market segments.
  3. Market Penetration in Emerging Economies: Expand operations and distribution channels into emerging economies where there is a growing demand for multi-component injection molded products. Establish strategic partnerships and distribution agreements to penetrate these markets effectively.
  4. Investment in R&D for Process Optimization: Allocate resources towards research and development to enhance process efficiency, reduce cycle times, and minimize material waste. Continuously invest in technology upgrades and automation solutions to stay competitive in the market.
  5. Collaboration and Strategic Alliances: Form alliances with material suppliers, equipment manufacturers, and technology providers to access cutting-edge materials and advancements in multi-component injection molding technology. Collaborate with industry partners to jointly develop innovative solutions and address evolving customer needs.

Upcoming Industry Trends:

  1. Integration of Industry 4.0 Technologies: Adoption of smart manufacturing practices, including IoT-enabled equipment monitoring, data analytics, and predictive maintenance, to optimize production processes and improve overall operational efficiency.
  2. Growing Demand for Sustainable Materials: Increasing emphasis on environmental sustainability is driving the demand for bio-based and recycled materials in multi-component injection molding applications. Companies need to explore eco-friendly alternatives and incorporate sustainable practices into their manufacturing processes.
  3. Advancements in Material Science: Ongoing developments in material science are leading to the introduction of new polymer blends and composites with enhanced properties, such as improved strength, durability, and chemical resistance, expanding the range of applications for multi-component injection molding technology.
  4. Miniaturization and Micro Molding: The trend towards miniaturization in electronics, medical devices, and automotive components is driving the adoption of micro molding techniques enabled by multi-component injection molding technology. Manufacturers are focusing on producing smaller, more intricate parts with higher precision and consistency.
  5. Increased Adoption in Healthcare and Medical Devices: With growing demand for personalized healthcare solutions and medical devices, multi-component injection molding technology is witnessing increased adoption in the healthcare sector. The technology enables the production of complex, multi-material components used in devices such as drug delivery systems, surgical instruments, and diagnostic equipment.

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Report Benefits & Key Questions Answered

  • Historical Market Analysis: The detailed survey by FMI, examines key factors in the Multi Component Injection Moulding Technology Industry that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Multi Component Injection Moulding Technology market for the forecast period 2022-2032.
  • Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Multi Component Injection Moulding Technology for the assessment period. As per the study, the demand for Multi Component Injection Moulding Technology Industry  will grow at a robust CAGR between 2022 and 2032.
  • Market Trend Analysis: The latest study by FMI on the Multi Component Injection Moulding Technology Industry offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist Industry players in constructing an effective strategy to capitalize on them.

Competitive Landscape Analysis

The Industry survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Multi Component Injection Moulding Technology Industry . The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

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Market Segmentation:

Based on moulding type:

  • Multi material injection moulding
  • Multi-colour injection moulding

Based on technology type:

  • Two-shot moulding
  • Co-injection moulding
  • Hard-soft combinations of thermoplastics

Based on end use:

  • Automobile industry
  • Medical Industry
  • Electronics and Communication Industry
  • Sports Industry

Author

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Sealing the Future: Exploring the Growth Trajectory of the Global Resealable Packaging Bags Market to US$ 3.9 Billion by 2033

The future growth prospects of the resealable packaging bags market are promising, characterized by steady expansion and evolving consumer demands. With a projected valuation of US$ 2.3 billion in 2023 and an anticipated CAGR of 5.3% leading to US$ 3.9 billion by 2033, the market is poised for significant advancement.

Resealable packaging bags are becoming increasingly popular due to their convenience and ability to preserve product freshness. As consumer lifestyles evolve and demand for on-the-go snacks and portion-controlled products rises, the need for resealable packaging solutions is expected to surge.

Plastic remains the dominant material in the resealable packaging bags market due to its affordability, flexibility, and easy availability. The plastic segment is projected to witness substantial growth, expanding 1.6 times its current value from 2023 to 2033.

Moreover, with top companies capturing a notable share of the market by 2022, competition is expected to intensify, driving innovation and technological advancements in resealable packaging designs. As sustainability concerns continue to shape consumer preferences, the market may also witness a shift towards eco-friendly materials and packaging solutions, further fueling its growth trajectory.

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Business Growth Opportunities in the Resealable Packaging Bags:

  1. Eco-Friendly Packaging Solutions: With growing environmental concerns, there’s a significant opportunity for businesses to develop and market resealable packaging bags made from sustainable materials such as compostable plastics or biodegradable alternatives. Consumers are increasingly prioritizing eco-friendly options, presenting a clear avenue for growth.
  2. Innovative Designs and Functionalities: Introducing innovative features such as easy-open seals, enhanced barrier properties for extended product freshness, and customizable designs can attract consumers seeking convenience and practicality. Investing in research and development to create unique functionalities can differentiate your brand and drive growth in the market.
  3. Expansion into New Markets: Explore untapped markets and geographical regions where the demand for resealable packaging bags is rising. Conduct market research to identify emerging consumer trends and preferences, and tailor your products to suit the specific needs of these target demographics. International expansion can also open doors to new revenue streams and business opportunities.
  4. Collaboration with Retailers and Manufacturers: Forge strategic partnerships with retailers and manufacturers to co-create packaging solutions that cater to evolving consumer preferences. By collaborating closely with key stakeholders in the supply chain, businesses can streamline production processes, reduce costs, and enhance product distribution, ultimately driving growth in the resealable packaging bags market.
  5. Investment in Digital Marketing and E-commerce: Leverage digital platforms and e-commerce channels to expand your reach and connect with a wider audience. Develop engaging content, utilize social media marketing strategies, and optimize your online presence to increase brand visibility and attract customers seeking convenient packaging solutions. Embracing digital marketing trends can propel business growth and foster long-term customer relationships.

Upcoming Trends in the Resalable Packaging Bags Industry:

  1. Smart Packaging Technologies: The integration of smart packaging technologies such as RFID tags, QR codes, and sensors is gaining momentum in the packaging industry. These technologies enable real-time tracking, authentication, and interactive consumer experiences, enhancing product visibility and transparency throughout the supply chain.
  2. Focus on Food Safety and Preservation: With growing concerns about food safety and shelf life extension, there’s a rising demand for resealable packaging bags with advanced barrier properties and antimicrobial coatings. Manufacturers are increasingly investing in innovative packaging solutions that ensure product freshness, quality, and safety, aligning with consumer expectations for healthier and more sustainable food options.
  3. Customization and Personalization: Consumers are seeking personalized packaging experiences that reflect their individual preferences and lifestyles. Customizable resealable packaging options allow brands to engage with consumers on a deeper level, offering tailored solutions that resonate with their unique needs and values. Personalization strategies can enhance brand loyalty and drive repeat purchases in the competitive packaging market.
  4. Shift towards Circular Economy Models: In response to mounting environmental concerns, there’s a growing emphasis on adopting circular economy principles within the packaging industry. Businesses are exploring recyclable and reusable packaging solutions that minimize waste and promote resource efficiency throughout the product lifecycle. Embracing circular economy models not only reduces environmental impact but also fosters a more sustainable and resilient supply chain.
  5. Rise of Convenience Packaging Formats: Busy lifestyles and changing consumer behaviors are driving demand for convenient packaging formats that offer ease of use and on-the-go functionality. Resealable packaging bags designed for single-serve portions, portion control, and snack-sized packaging are witnessing increased adoption across various product categories such as snacks, beverages, and personal care products. As convenience continues to shape purchasing decisions, brands are innovating to deliver packaging solutions that cater to evolving consumer preferences and lifestyles.

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Key Points: 

1. The resealable packaging market set to reach $3.9 billion by 2033 with a 5.3% CAGR, based on Future Market Insights research.

2. Top 5 companies expected to capture 10-15% of the market share by the end of 2022, indicating a competitive landscape.

3. Plastic material dominates the resealable packaging segment, projected to grow 1.6 times its value from 2023 to 2033.

4. Market revenue reached $2.2 billion in 2022, driven by growing demand across various industries.

5. The food industry leads the demand for resealable packaging, with the market anticipated to expand 1.8 times its current value during the forecast period, offering substantial growth opportunities.

Market Segmentation:

Based on the different types:

  • zipper
  • pull tab
  • drawstring
  • strip
  • seal
  • cross tie
  • flap
  • movie
  • zip up
  • seal tape
  • screw cap

Based on the material:

  • biodegradable film
  • polyethylene
  • polyester
  • polypropylene
  • pressure sensitive tape
  • plastic
  • aluminum.

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Key Companies Profiled

  1. Mondi PLC
  2. Amcor
  3. Polypouch Ltd.
  4. Novolex
  5. Pouch Direct Pty. Ltd.
  6. Universal Plastic Bags
  7. C-P Flexible Packaging
  8. Universal Flexible Packaging Ltd.
  9. Zip-Pak
  10. Flexico
  11. Bischof + Klein SE & Co. KG
  12. Presto products company
  13. Polymer Packaging, Inc.
  14. Sealstrip corporation
  15. D&M Enterprises dba Custom Poly Packaging
  16. Diversified plastics & packaging, Inc.
  17. Connover packaging
  18. Tobe packaging
  19. Brentapac International Pte Ltd
  20. Tekpak packaging

Author

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

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Global Medical Terahertz Technology Industry on a Trajectory to Reach US$768.05 Million by 2032 with a Striking 17.1% CAGR | FMI

The Global Medical Terahertz Technology Industry, valued at an impressive US$135.29 Million in 2022, is poised for an extraordinary growth journey. Fueled by a robust Compound Annual Growth Rate (CAGR) of 17.1%, this innovative industry is projected to reach a remarkable US$768.05 Million by 2032.

Terahertz technology is swiftly transforming the pharmaceutical sector, ushering in a new era of innovation and expanding market horizons. Its multifaceted applications, spanning biology, medicine, medical imaging, material spectroscopy, sensing, security, monitoring, and spectroscopy, have positioned it as a dynamic and versatile force in the industry.

The unique and diverse landscape of terahertz technology promises to unlock a wealth of growth opportunities, making it a key driver in the global medical industry. As it continues to evolve and innovate, we anticipate groundbreaking developments in healthcare and beyond.

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Furthermore, due to its high power and picosecond pulse time structure, the Terahertz free-electron laser (FEL) is a robust and versatile source of coherent radiation for THz pulsed imaging, facilitating market expansion.

“In the pharmaceutical industry, terahertz technology is a fast-growing field that is driving market growth due to its applications in biology and medicine, medical imaging, material spectroscopy, and sensing, security, monitoring, and spectroscopy, as well as applications in sensing, security, monitoring, and spectroscopy. This will create ample growth opportunities for the market,” says a lead analyst at FMI

Key Takeaways from the Medical Terahertz Technology Industry

  • By 2032, the global terahertz imaging market is estimated to generate US$ 273.77 million, growing at a CAGR of 23.1%.
  • North America is expected to hold the largest market share while growing at a rapid 21.6% CAGR.
  • Europe might contribute US$ 290.88 million to the medical terahertz technologies market by 2032.
  • As China seeks to modernize its economic infrastructure and expand the number of industries, the Asia Pacific region is predicted to have the fastest market development.

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Competition Landscape in the Global Medical Terahertz Technology Industry

A new generation of Medical Terahertz Technology market entrants is utilizing technological improvements to launch expanded and improved technologies. By the development of these items, these companies obtain a competitive advantage. The fact that these organizations spend on research and development efforts regularly guarantees that they are up to date with customer preferences as well as industry requirements to remain competitive in the marketplace. They are currently working to improve their position in the medical area to obtain a firmer foothold.

Acal Bfi Limited, Advantest Corporation, Teraview Limited, Luna Innovations Inc., Insight Product Company, and Toptica Photonics AG are some of the key players operating the Global Medical Terahertz Technology Industry.

Recent Developments in the Global Medical Terahertz Technology Industry

  • In April 2022, Advantest Corporation released Euclid, a 3D image viewer for its photoacoustic microscopes. Tomographic images are simply made, and 3D images are automatically shown by superimposing data from a Hadatomo tool on skin melanin, vascular network, and skin structure. This substance is used in dermatological research for both cosmetic and medical purposes.
  • TeraSense announced in April 2022 the release of its IMPATT-based generator, a powerful wave source with an output power ranging from 0.08 watts to 1.8 watts.
  • In February 2022, researchers from the Korea Institute of Science and Technology (KIST) investigated the use of label-free THz metamaterials for speedy and accurate differentiation of COVID-19 viral subtypes. Label-free THz metamaterials are utilized to detect COVID-19 virus protein units in this type of virus detection known as biomarker-detecting technology.
  • In October 2021, Menlo Systems built a branch in China, Shanghai Menlo Systems Quantum Laser Technology Co., Ltd. As a result, the company will be able to strengthen its position in China’s thriving photonics sector. Menlo Systems offers a variety of ultra-stable lasers, terahertz systems, and femtosecond lasers.

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Global Medical Terahertz Technology Industry by Category

By Type, the Global Medical Terahertz Technology Industry is Segmented as:

  • Terahertz Imaging
  • Terahertz Spectroscopy

By Application, the Global Medical Terahertz Technology Industry is Segmented as:

  • Dentistry
  • Oncology
  • Dermatology
  • Tomography
  • Biochemistry
  • Other

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