Image Sensor Market Predicted to CAGR at 6.7% to US$ 41672.3 Million

The image sensor market is expected to reach a value of US$21725.8 million in 2022 and is projected to increase at a CAGR of 6.7% to reach US$ 41672.3 million from 2022 to 2032. Growth is attributed to the rising popularity of gadgets with cameras.

A CAGR of 5.9% was recorded for the market for image sensors from 2016 to 2021. In general, there are two types of image sensors: CCD image sensors and CMOS image sensors. CMOS image sensors are being adopted at a faster rate than CCD image sensors because they offer superior performance. Modern high-performance, miniaturized integrated circuits are made possible by the high integration on chips made possible by CMOS image sensors.

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Image Sensors Market: Drivers and Challenges:
The major factor driving the adoption of Image Sensors is the increasing usage of mobile devices with dual camera features which has increased the demand for image sensors. In the last 5-6 years, the adoption of smartphones and demand for high-quality cameras has increased which is helping the Image Sensors market to grow. Another factor helping the Image Sensors market to grow is the increasing demand for selfie phones which has also increased the demand for image sensors with better front cameras.

The key challenge for the Image Sensors market is the high cost of manufacturing these image sensors. With the growing demand for smartphones along with front camera features and high-megapixel cameras, manufacturers have to invest more in Image Sensors and in making high-quality image sensors.

Market Competition:
Some of the key participants present in the global image sensor market are

  • Toshiba Corporation,
  • Sharp Corporation,
  • Sony Corporation,
  • Panasonic Corporation, and
  • Samsung Electronics among others.

Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Toshiba Corporation, and Sharp Corporation account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.

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Regional Overview:
Presently, North America and Europe hold the largest market share for the Image Sensors market due to the presence of large market players who are working towards the development of image sensors that can be used mainly in the automotive industry in this region. Moreover, the rising demand for smart devices with high-resolution cameras is increasing the Image Sensors market opportunity in this region.

Asia–Pacific is also increasingly adopting Image sensor technologies with the entry of major & established players such as Samsung, Panasonic, and others.

Image Sensor Market Segmentation:

By Types:

  • CMOS image sensor
  • CCD image sensor

By Application:

  • Image Sensor for Smartphones
  • Image Sensor for Cameras
  • Image Sensor for Wearable Electronics
  • Image Sensor for Surveillance
  • Image Sensor for Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Middle East and Africa
  • Asia Pacific Excluding Japan(APEJ)
  • Japan

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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UV Coatings Industry Targets US$ 6,780 Million by 2033 with a 5.2% CAGR

The global UV coatings industry is anticipated to attain a valuation of US$ 4,065.94 million in 2023 and is predicted to reach US$ 6,780 million by 2033, rising at a CAGR of 5.2% over the forecast period. It is anticipated that the burgeoning electronics industry and rising environmental concern would increase the demand for UV coatings. The growing demand for coatings from industrial applications is probably going to benefit the industry.

Increased resistance and gloss finish, as well as low to zero emissions of volatile organic compounds and low operating costs, are expected to propel market expansion. Graphic arts and a wide range of industrial uses, including wood, plastic, conformal, display, and paper coatings, are expected to drive market expansion.

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It is anticipated that increased research efforts focused on developing new and enhanced functionalities—particularly through the application of nanotechnology—will increase sales of UV coatings. The development of nanocapsules that are filled into self-healing covers that release polymerizable ingredients to repair physical damage is underway. Moreover, research to improve biocidal coatings’ resistance to a range of microbes is ongoing due to the growing demand for these coatings. These components could speed up market growth significantly.

In the apparel manufacturing industry, UV coatings technology is considered “green” due to two key advantages. To begin with, UV coating formulae typically contain modest amounts of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). Second, UV coatings use less energy to dry than solvent- or water-based coatings, reducing greenhouse gas emissions. As companies seek to reduce their environmental effect and comply with regulations, UV coatings are a helpful tool for minimizing air pollution and greenhouse gas emissions. These factors are expected to drive market expansion throughout the forecast period.

Key Takeaways

  • The market in China is projected to grow with a CAGR of 5.4% during the forecast period.
  • The demand for UV coatings in Japan is expected to grow with a significant CAGR of 5.5% during the forecast period.
  • United States is expected to account for 90.4% of the North American market share by 2033.
  • By composition, monomers segment is expected to grow with a CAGR of 4.8% during the forecast period.

“Increasing demand for UV coatings from industrial applications is expected to drive market growth during the forecast period,” comments an FMI analyst.

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Competitive Landscape

The market for UV Coatings is highly competitive, with various prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players are Arkema Group, BASF SE, Akzo Nobel NV, PPG Industries, Axalta Coating Systems LLC, The Valspar Corporation, The Sherwin-Williams Company, Croda International PLC, Dymax Corporation, Allnex Belgium SA/NV Ltd., Watson Coatings Inc.

Some recent developments in the UV Coatings market are:

  • In April 2021, Dymax Oligomers and Coatings collaborated with Mechnano to create UV-curable dispersions and masterbatches of Mechnano’s functionalized carbon nanotube (CNT) for UV applications.
  • Sherwin-Williams Company acquired Sika AG’s European industrial coatings division in August 2021. The deal was set to be completed in Q1 2022, with the acquired business joining Sherwin-Williams’ performance coatings group operating segment.
  • PPG Industries Inc. acquired Tikkurila, a prominent Nordic paint and coatings company, in June 2021. Tikkurila specializes in environmentally friendly decorative products and high-quality industrial coatings.

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Key Segmentation

By Composition:

  • Monomer
  • Oligomer
  • Photo Initiator
  • Additives

By Type:

  • Water-Based
  • Solvent-Based

By End Use:

  • Wood & Furniture
  • Electronics
  • Automotive
  • Paper & Packaging
  • Industrial Coatings
  • Building & Construction

By Region:

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

About the Chemicals and Materials Division at Future Market Insights

The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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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Future Market Insights Inc.
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Coaxial Cable Market Growth Forecast: 3% Per Year En Route to US$ 45 Billion by 2032

The global coaxial cable market net worth is expected to rise at a gentle 3% annual rate to US$ 45 billion by 2032.

The successful transmission of data thus has become a concern nowadays. With a whole gamut of options nowadays, as a means to transfer data, coaxial cables have been used for years till the date due to reliable data transfer gathering a high demand in the market. Coaxial cable is a type of cable that has an inner conductor covered by an insulating layer, which is surrounded by a tabular conducting shield. The external interferences are eliminated by larger amounts due to this type of design, giving rise to a reliable transfer of data.

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They are majorly used in the cable television industry, military and aerospace, telephone service providers, and other industries. Because of the wide range of applications provided by the cable, they are expected to have high demand in the coaxial cable market resulting in a promising CAGR.

Coaxial cable market: Drivers and Restraint:
Reliable data transfer and high capacity with substantial advancements in the IT and telecom sectors are the key factors that drive the growth of the market. In addition to these, other major factors contributing to the market growth are rising investments in communication infrastructure, cheaper installation costs, and the growing broadband and broadcasting industry.

Owing to the large number of internet subscribers, internet service providers represent the largest segment among the end users. In addition to the transfer of official data, the increasing popularity of Multimedia over Coaxial Alliance (MoCA) technology for sharing high-definition videos to home interconnected devices is expected to drive the coaxial cable market.

CATV companies, system integrators, the military and aerospace industry, telephone service providers, internet service providers, the construction industry, and others (medical, automotive, marine, and other OEMs) are some other sectors that can be held responsible for high demand of coaxial cables in the market.

With the increasing levels of data insecurity, and focusing on improving security across the globe in both the public and private sectors increasing the demand for Coaxial cable.

The coaxial cable market faces a substantial threat from rapid changes in technology resulting in evolving alternatives such as fiber optics or wireless technologies. Also the intense market competition and comparatively being an old technology can decline in the usage of Coaxial cable, but due to its data transmission efficiency over long distances, it is expected to create a niche market.

Data needs to transfer at high speed over the internet. This data transferred over the internet includes applications, videos, audio, documents, etc. Many high-speed fiber internet connections are also using coaxial technology. These coaxial cables are also widely used in the television cable industry and have wide applications in radio frequency transfer. The absence of interference in coaxial cable is what makes it one of the most reliable choices for transmitting radio signals.

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Coaxial Cable Market Segmentation:

By Application:

  • Internet Data Transfer
  • Video Distribution
  • Radio Frequency Transfer

By End User:

  • Cable Television Industry
  • Military & Aerospace
  • Internet Service Providers

By Region:

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

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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Future Market Insights Inc.
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Projected Growth: Bamboos Industry Set to Reach US$ 18,440 Million by 2033

The global bamboos industry is anticipated to attain a valuation of US$ 6,533.11 million in 2023 and is estimated to reach US$ 18,440 million by 2033, trailing a CAGR of 10.9% during the forecast period.

The sector is predicted to grow globally as a result of rising investments in infrastructure development and rising consumer awareness of long-lasting, environmentally friendly products.

Due of bamboo’s advantages for the environment and economy, governments everywhere have started to take action to encourage the plant’s usage and production. The National Bamboo Policy of Kenya and the National Bamboo Mission of India are two recent examples that aim to enhance the production of bamboo. Growing consumer knowledge of bamboo’s advantages has led to a notable increase in the materialization and acceptance of bamboo in the market.

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Bamboo is used for a variety of environmental purposes, including building structures and boats, because it is stronger and lighter than other types of wood. Moreover, bamboo is easily machined and molded for practical uses. Furthermore, it is anticipated that the growing inclination for bamboo will be fueled by the developed world’s growing need for environmentally friendly building, leading to notable expansion in the upcoming years.

Bamboo is a multifunctional and adaptable forest product that is essential to domestic and industrial economies worldwide. It is appropriate for a range of indoor and outdoor applications due to its availability and versatility. Bamboo is seen as a substitute for wood and industrial feedstock, benefiting both traditional cottage industries and modern production. Because bamboo has so many uses, it is anticipated that demand for it would rise significantly in the near future in all industries.

There is a growing need for housing due to the growing global population and urbanization. Bamboo is frequently utilized in the construction sector for a variety of products, such as flooring, equipment, and other materials. The bamboo market is developing as a result of this expanding trend in construction.

Key Takeaways

  • The market in China is projected to grow with a promising CAGR of 11.4% during the forecast period.
  • The demand for bamboos in United States is expected to grow with a significant CAGR of 10.2% during the forecast period.
  • The market in China is expected to be worth USD 8540 million by end of the forecast period.
  • By end-use industry, pulp & paper segment is expected to generate demand with a CAGR of 12.8% during the forecast period.

“Increasing use of bamboo as a substitute for timber and industrial feedstock is expected to drive market growth during the forecast period,” comments an FMI Analyst

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Competitive Landscape

The market for bamboos is highly competitive, with various prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players are Moso International BV, Shanghai Tenbro Bamboo Textile Co. Ltd, Tengda Bamboo-Wood Co. Ltd., China Bamboo Textile Company Ltd., Bamboo Bio Composites Sdn Bhd, Southern Bamboo Inc., Jiangxi Feiyu Industry Co. Ltd., Higuera Hardwoods LLC, Dasso Industrial Group Co. Ltd., Xingli Bamboo Products Company, Terragreen LLC, Anji Tianzhen Bamboo Flooring Co. Ltd., Kerala State Bamboo Corporation Ltd, Bamboo Australia Pty. Ltd., Ecoplanet Bamboo, Smith & Fong Co. Inc., Jiangxi Kangda Bamboo Ware Group Co. Ltd., Fujian Jianou Huayu Bamboo Industry Co. Ltd., Jiangxi Shanyou Industry Co. Ltd.

Some recent developments in the bamboos market are:

  • In 2022, Libas Consumer Products Ltd revealed a rights issue and the launch of KNG, an organic innerwear brand made from bamboo.
  • In 2021, Nestlé announced plans to plant 3.5 million natural bamboo bunches and trees in the Philippines as part of their forestry program. This initiative aligns with Nestlé’s goal of planting 200 million trees by 2030 and supports their strategy to promote regenerative agriculture, implement environmental alternatives to reduce carbon emissions, and work towards their net-zero target by 2050.
  • In June 2021, UK flooring products company Victoria PLC acquired Cali Bamboo Holdings for $76.1 million. This acquisition enabled Victoria to expand its distribution in the US, develop new products, and maintain a strong focus on products, people, and relationships.

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Key Segmentation

By End Use Industry:

  • Wood and Furniture
  • Construction
  • Food (bamboo shoots)
  • Pulp & Paper
  • Textile
  • Agriculture
  • Others (charcoal & handicrafts)

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

About the Chemicals and Materials Division at Future Market Insights

The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

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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Agricultural Robot Market Set to Soar at 17.7% CAGR to US$ 30,500.51 Million

The agricultural robots market is expected to be worth $5,994.27 million by 2022. Sales of US$ 30,500.51 million at a CAGR of 17.7% are anticipated to be generated by 2032 on the global market for agricultural robots.

Because automation is fueled by a growing population and workforce shortages, developing IoT and navigation technology lowers the expenses related to automation. It is expected that rapidly evolving technologies will have a significant impact on a wide range of industries.

Consumer demand for food is growing along with the world’s population. The agricultural industry is now progressively embracing technological solutions to raise agricultural productivity.

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Agriculture Robotics Market: Drivers and Restraints:
Replacing farmers’ efforts with smart robots is the major driver propelling the growth of the market. Also, the population all across the world is increasing, which is fuelling the demand for more crop production, thus piloting the growth of the agriculture robotics market during the forecast period.

The government of emerging nation such as India and China is focussing on launching smart farmer project, which is anticipated to create huge industry expansion opportunity in the near future. Further, the demand for driverless tractors and the increasing application of robots for indoor farming, dairy management, and horticulture are the other factors responsible for the growth of the agriculture robotics market.

High initial investment and skilled staff for accessing the robot are the two factors coupled together to challenge the growth of the agriculture robotics market in recent years. Apart from this, government subsidies and farmer development training programs may assist in overcoming the above-mentioned challenge.

Market Competition:

  • Tractor LLC,
  • Blue River Technology Inc.,
  • AutoProbe Technologies LLC,
  • BouMatic Robots BV,
  • Deere & Company,
  • Harvest Automation Inc.,
  • Precision Hawk,
  • Yamaha Motor Corporation, and
  • GoPro, Inc.

are among the key players in the agricultural robot market.

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Global Agriculture Robotics Market: Regional Trend
North America is expected to witness the largest market growth regarding revenue, owing to the increasing penetration of modern agriculture equipment. Further countries such as Canada and the U.S. are anticipated to exhibit positive market growth, due to increasing inclination adoption of the automation process.

Asia-Pacific countries such as China and India are estimated to capture the fastest market growth, owing to supportive government regulation to encourage smart agriculture projects in the respective region, which is expected to spur the demand for agriculture robotics in forthcoming years.

Agricultural Robots Market Segmentation:

By Product Type:

  • Agricultural UAV
  • Driverless Agricultural Tractors
  • Agricultural Milking Robots
  • Automated Agricultural Harvesting Machine

By Application:

  • Agricultural Robots for Field Farming
  • Agricultural Robots for Dairy Management
  • Agricultural Robots for Indoor Farming
  • Agricultural Robots for Horticulture

By Offering:

  • Agricultural Robot Hardware- Automated & Controlled System
  • Agricultural Robot Sensor & Monitoring Device
  • Agricultural Robot Software Service

By Region:

  • North America
  • Europe
  • Asia Pacific Excluding
  • 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 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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Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Automotive Refinish Coatings Industry Targets US$ 12.9 Billion by 2033 with 5.1% CAGR

The global automotive refinish coatings industry is estimated to develop at a moderate 5.1% CAGR from 2023 to 2033. The target market’s estimated value has increased from US$ 7.7 billion in 2023 to US$ 12.9 billion by 2033. One of the biggest businesses in the world, the automobile sector, supports the expansion of the automotive refinish coatings market. The automotive industry uses automotive refinish coatings extensively because they offer excellent corrosion protection. Additionally, a number of manufacturers release a variety of distinctive models every year, which raises the need for vehicle refinish coatings in the automotive sector.

Historically, the market grew from 2016 to 2020 at a compound annual growth rate (CAGR) of 3.7%, and it is currently growing steadily. From 2023 to 2033, there will be a rise in demand for automotive refinish coatings due to consumer preferences for better-looking and more durable vehicles. Customers’ growing concern for vehicle maintenance has led to increased spending on vehicle insurance, which among other things covers body shop paints and coatings and repair costs. Additionally, during the assessment period, the market will advance due to current trends in the automotive refinish coatings industry, technical advancements, and ongoing product development aimed at improving refinish coating performance.

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The expansion of the automotive refinish market is also attributed to an increase in vehicle ownership and automobile production. As the average person’s wealth rises, more and more people are purchasing executive and luxury vehicles, which require aftermarket coating refinishing. Once more, the auto industry had high car production and sales between 2016 and 2020. More than 70.5 million passenger cars and 95.6 million vehicles overall were produced in 2018. The market for automotive refinish coatings had strong sales growth as a result of this remarkable increase in the fleet of vehicles. Furthermore, increased demand for sustainable and eco-friendly refinish coatings has resulted from numerous sustainability initiatives and growing environmental consciousness, which will create new growth opportunities for the industry in the years to come.

Key Takeaways:

  • Rising interest in vehicle care will strengthen the prospects of the automotive refinish coatings market.
  • In 2023, the automotive refinish coatings market in the US will grow by 6.01% year-on-year rate and reach US$ 2.4 billion.
  • Germany will account for 38% of the automotive refinish coatings market share in Western Europe.
  • By material type, the acrylic-based coatings will register a 6.9% CAGR and account for 44% of the market share.
  • By type, the primers and base coat segment will collectively dominate the market with a share of 66.3%.

Competitive Landscape 

Axalta Coating System LLC, 3M Company, AkzoNobel N.V., PPG Industries, Inc., and Dow Inc., among others, are a few of the key players in the automotive refinish coatings market profiled in the full version of the report.

In a competitive environment, leading market players are focusing on increasing their research and development efforts to produce new products. These enterprises also employ strategies that bolster production capacity as well as mergers and acquisitions to enhance their market footprints. For instance, Axalta Coating Systems, a leader in liquid and powder coatings, declared the acquisition of U-POL Holding Limited in September 2021.

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More Insights Into Automotive Refinish Coatings Market 

FMI offers an unbiased analysis of the global automotive refinish coatings market in its latest report, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. The report provides a ten-year sales with insights into market drivers, restraints, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented on the basis of material type, product, vehicle, technology, end-user, and region.

According to FMI, based on segmentation, the passenger car vehicle type will create high demand for the automotive refinish coat market. Increasing demand for passenger cars will lead to rising demand for refinish coatings for these cars thereby contributing to the overall market growth. Based on type, the primers and base coats segment will remain popular over the forecast period, collectively accounting for 66.3% of the global market share. Based on region, Wester Europe will exhibit robust growth in the automotive refinish coatings market. This is due to Germany’s impressive performance in the automotive refinish coatings market. The country accounts for 38% of the Western Europe automotive refinish coatings share. This is primarily owing to the fact that Germany entertains the presence of some of the leading automakers of the world. China, India, and the US are some of the other countries that will contribute to the global growth of the automotive refinish coatings 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 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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Industrial & Institutional Cleaning Chemicals Industry Set to Reach US$ 158.1 Billion by 2033 with a 7.5% CAGR

The global industrial & institutional cleaning chemicals market is expected to have a valuation of US$ 76.7 billion in 2023,accelerating at a 7.5% CAGR from 2023 to 2033. The global market share is anticipated to be valued approximately US$ 158.1 billion by the end of 2033.

Top Trends and Opportunities in the Global Market

The global market is influenced by a multitude of trends and possibilities. The following are some opportunities and trends to think about:

  • Eco-friendly and Sustainable Solutions: The sector has seen an increase in the demand for ecologically safe and long-lasting cleaning solutions. Consumers, businesses, and governments are increasingly concerned about the environmental impact of cleaning products, prompting a shift toward greener options.
  • Automation and Robotics: The adoption of automation and robotics in cleaning processes has increased. Industrial and institutional cleaning companies are exploring ways to improve efficiency and reduce labor costs by incorporating automated cleaning systems.
  • Green Certifications and Standards: Many cleaning chemical manufacturers have sought green certifications and labels to cater to the demand for eco-friendly products. These certifications assure customers that the products meet specific environmental standards.
  • Customization and Specialization: Clients in various industries seek cleaning solutions tailored to their specific needs. Industrial and institutional cleaning chemical companies are adapting by offering specialized products and services for different applications, such as healthcare, food processing, and hospitality.
  • Digitalization and Data-Driven Solutions: The industry has been exploring ways to leverage technology to enhance efficiency and optimize cleaning processes. Data-driven solutions, IoT devices, and predictive analytics are integrated into cleaning operations to monitor performance and schedule maintenance.

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Opportunities in the Industrial & Institutional Cleaning Chemicals Market:

  • Developing Markets: Emerging economies and regions with rapid industrialization and urbanization present significant industrial and institutional cleaning chemical market opportunities. As more businesses and institutions are established, the demand for cleaning solutions is likely to increase.
  • Biodegradable and Non-toxic Formulations: There is a growing market for biodegradable and non-toxic cleaning chemicals. Companies that can develop effective and safe formulations may find substantial opportunities in this segment.
  • Collaboration and Partnerships: Collaborating with industrial and institutional clients to understand their specific cleaning needs can lead to opportunities for custom solutions and long-term partnerships.
  • Integration of the Internet of Things and Artificial Intelligence: Integrating the Internet of Things devices and artificial intelligence can lead to advanced monitoring and optimization of cleaning processes, providing opportunities for companies to offer cutting-edge solutions.
  • Value-added Services: Additional services like training, consulting, and maintenance of cleaning equipment can help cleaning chemical companies differentiate themselves and add value for their clien

Key Takeaways:

  • The global industrial & institutional cleaning chemicals market is estimated to register a CAGR of 5% with a valuation of US$ 158.1 billion by 2033.
  • The United States is anticipated to dominate the global market by capturing a share of 1% by 2033.
  • Germany is estimated to secure a share of 2% in the global market during the forecast period.
  • With a share of 5%, Japan is significantly driving the global market.
  • Australia is estimated to register a CAGR of 1.2% in the global market by 2033.

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How do the Key Players Uplift the Global Market?

Key players play a significant role in the global market by investing huge amounts in research and development. These players are innovating unique and affordable products through the latest technologies to attract consumers. Key players adopt marketing strategies to uplift the global market size, including mergers, collaborations, and partnerships.

Recent Developments in the Global Market

In 2021, LANXESS announced it to take over the business of INTACE SAS to diversify its product offering.

Top Key Player in the Global Industry

  • Procter & Gamble
  • BASF SE
  • Clariant
  • The Clorox Company, Inc.
  • Henkel AG & Co. KGaA
  • 3M
  • Kimberly-Clark Corporation
  • Reckitt Benckiser Group plc
  • Croda International PLC
  • Albemarle Corporation

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Key Segmentation

By Raw Material:

  • Chlor-alkali
  • Surfactant
  • Solvents
  • Phosphates
  • Biocides
  • Others

By Product Type:

  • General Purpose Cleaners
  • Disinfectants and Sanitizers
  • Laundry Care Products
  • Vehicle Wash Products
  • Others

By End Use Verticals:

  • Commercial
  • Manufacturing

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Smart Home Automation Market Forecast: US$ 168 Billion by 2032 with 8.84% CAGR

The smart home automation market is anticipated to expand from US$ 72 billion in 2022 to US$ 168 billion in 2032, with a CAGR of 8.84% during those two years. The Internet of Things (IoT) is becoming more widely used, and as a result, machine-to-machine communication has advanced, encouraging customers to use smart home automation technologies.

The need for smart devices is anticipated to increase shortly due to the integration of modern technologies like IoT, AI, and ML. A poll by Voicbot.ai estimates that 87.7 million US consumers were using smart speakers in January 2020. Additionally, the number of smart city initiatives is expanding globally, driving up demand for home automation companies.

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With remote access to home accessories, consumers can control their appliances while they are away. They can also utilize video surveillance equipment to keep an eye on any activity happening within the home. For instance, One Switch, an Indian firm that specializes in smart home automation, announced the availability of franchising opportunities in February 2022.

Eco-friendly products from smart home providers like One Switch, such as automated water sensors and motion sensors, have also contributed to lower electricity costs and an improved living environment.

Due to the high cost of automation tools and equipment, people with average or below-average disposable income find it difficult to purchase such cutting-edge services. There is polarization in purchasing such cutting-edge equipment because of its expensive price. As a result, the cost barrier is predicted to significantly constrain market expansion throughout the forecast period. Additionally, a lack of user familiarity with the technology prevents more smart home automation devices from being adopted. Consequently, complex applications and technology are anticipated to prevent market expansion in the assessment period.

Key Takeaways from the Smart Home Automation Market Report:

  • Global smart home automation market value to surge 2.3x from 2022 to 2032
  • By application, smart home automation for entertainment to experience a CAGR of 7.8% until 2032
  • Wireless smart home automation to be most sought after, expected to accumulate 44% revenue in 2022
  • North America to emerge as the fastest-growing market, expanding at an 8% CAGR
  • Europe is the 2nd largest market for smart home automation, inclining at a 7.7% CAGR
  • Asia Pacific to present significant growth opportunities, reflecting a 7.5% value CAGR

Competition Analysis:
Key players in the global smart home automation market include Control4 Corporation (U.S.), BB Ltd. (Switzerland), Crestron Electronics, Inc. (U.S.), Ingersoll-Rand plc (Ireland), Honeywell International Inc. (U.S.), Johnson Controls (U.S.), Leviton Manufacturing Company, Inc. (U.S.), Legrand SA (France), Lutron Electronics Co., Inc. (U.S.), Schneider Electric (France), and Siemens AG (Germany).

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Recent Developments in the Industry include:

  • In July 2022, Schneider Electric launched the Wiser App to create awareness about the potential of Wiser Smart Homes. The app requires minimal rewiring and can support Google Home Assistant and Alexa which offers the needed comfort to consumers regularly.
  • In July 2020, Johnson Controls, a renowned player in smart and sustainable buildings, launched OpenBlue, a complete suite of connected solutions and services that combine the Company’s 135 years of building experience with modern technology. The new suite of connected solutions allows previously unimaginable occupant experiences, respectful safety and security, and impactful sustainability, driven by cutting-edge connected technology.

More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the global smart home automation market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on components (Hardware, Software, Services), Technology (Cellular, Wireless, Other), Application (Security, Lighting, Entertainment, HVAC and Energy Management, Smart Kitchen), and region.

Smart Home Automation Market Segmentation:

By Component:

  • Smart Home Automation Hardware
  • Smart Home Automation Software
  • Smart Home Automation Services

By Technology:

  • Cellular Smart Home Automation
  • Wireless Smart Home Automation
  • Other Smart Home Automation Technologies

By Application:

  • Smart Home Automation for Security
  • Smart Home Automation for Lighting
  • Smart Home Automation for Entertainment
  • Smart Home Automation for HVAC & Energy Management
  • Smart Home Automation for Smart Kitchens

By Region:

  • North America Smart Home Automation Market
  • Europe Smart Home Automation Market
  • Asia Pacific Smart Home Automation Market
  • Latin America Smart Home Automation Market
  • Middle East & Africa Smart Home Automation 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 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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Coating Additives Industry Aims for US$17.77 Billion by 2033 with 4.8% CAGR

Thecoating additives industry is anticipated to thrive at an average CAGR of 4.8% between 2023 and 2033.The market is estimated to be valued at US$ 11.12 billion in 2023, with a market share of US$ 17.77 billion by 2033.

  • It is expected that impact modifiers, biocides, and anti-foaming properties would enhance the market structure. Moreover, market growth is anticipated to support packaging and automotive additives.
  • The OEM coatings, primers, monolayer topcoats, and other coatings improve surface properties. The higher demand for customized layers with specific detailing, chemicals, and elements is anticipated to flourish the market success.
  • The stringent zero-VOC emission regulations and government support to automotive businesses contribute to market dynamics. Alongside this, the improved wettability, UV protection, and advanced chemical resistance are likely to help industries get the best out of these additives.
  • New vendors are focusing on building their products through different chemicals and elements that limit microbial growth and prevent corrosion. Alongside this, the high-end research and development facilities and extensive usage of raw materials are increasing the demand for coating additives.
  • Although tight government laws restrict market expansion, the change in raw material prices makes manufacturing seamless and distinctive.
  • The surge in rheology modification operations is expected to help the market widen its boundaries. The construction application of coating additives involves delivering durability and texture.

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Key Points

  1. The United States market leads the North American coating additives market in terms of market share in North America. The United States held a healthy market share of 17.0% in 2022. The factors attributed to the growth are increased automotive operations, higher construction activities, and adoption of advanced coatings.
  2. The German coating additives market held an average market share of 5.2% in 2022. The market growth is caused by higher automotive applications due to the large manufacturing sites.
  3. The Indian market thrives at a healthy CAGR of 5.9% between 2023 and 2033. The growth is attributed to higher economic activities and higher construction activities.
  4. Based on formulation type, the solvent-based segment held the leading market share of 58.7% in 2022.
  5. Based on application, the rheology lead as it held a market share of 33.7% in 2022.

Competitive Landscape

The key suppliers focus on improving texture, enhanced color, and longer protection. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

  • Evonik Industries AG has introduced its business line-based traditional additives such as defoamers, wetting and dispersing, deaerators, and matting agents.
  • Momentive Performance Materials, Inc. Has launched coating additives for applications such as Coat OSil 1770 and CoatOSil 3505. Their applications involve wetting waterborne systems on standard and hard-to-wet substrates, auto refinishing, and leather goods.

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Top Key Players in the Industry

  • Akzo Nobel NV
  • Arkema SA.
  • Ashland Global Holdings Inc.
  • BASF SE
  • BYK-Chemie GmbH
  • Asahi Glass Co., Ltd.
  • Dow Chemical
  • Evonik Industries AG
  • Solvay SA
  • Momentive Performance Materials, Inc.
  • Arch Chemicals
  • Lonza Group AG

Key Segmentation

By Product Type:

  • Acrylics
  • Fluoropolymers
  • Urethanes
  • Metallic Additive
  • Others (Epoxy, Polyalkyds, and Amines)

By Formulation Type:

  • Solvent-Based
  • Water-Based

By End Use Industry:

  • Automotive
  • Architectural
  • Industrial
  • Wood & Furniture
  • Others

Key Regions Covered:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding Japan
  • The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Polyunsaturated Fatty Acids Industry Projected to Hit US$ 9.7 Billion by 2033, Riding a 5.4% CAGR

The polyunsaturated fatty acids industry is forecast to experience a growth of 5.4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 6,019 million in 2023.

The market for polyunsaturated fatty acids (PUFAs) is anticipated to grow as a result of growing chronic disease rates, government and institutional support, and growing knowledge of the health benefits of PUFAs.

It is anticipated that numerous R&D projects will create new technologies and enhance PUFAs, hence accelerating market expansion.

The market for polyunsaturated fatty acids is also seeing a surge in demand for plant-based dietary items. Customers are moving away from animal-based PUFA goods and toward plant-based ones. This is explained by people’s increasing understanding of holistic living options and environmental conscience. Plants and multicellular animals supply PUFA. The market for PUFAs is still dominated by animal-based products, notwithstanding the current trend toward vegan and plant-based foods.

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Over the projection period, there will likely be an increase in long-term health difficulties due to changes in societal behavior and an aging population. In addition, as the world’s population continues to rise and urbanization picks up steam, more and more individuals are choosing to live sedentary lives. The aforementioned reasons are driving up the prevalence of diabetes and obesity. In order to address chronic diseases, governments and public groups are promoting better lifestyles that incorporate omega-3 fatty acids.

Market manufacturers are required to closely follow both national and international regulatory standards. Large pockets of distribution channels and adherence to these requirements for sustainable production continue to be attractive market drivers. Furthermore, getting certifications from accredited organizations like the USDA has opened up new business options in other industries, which has increased demand for the product.

Top Highlights from the FMI’s Analysis of the Polyunsaturated Fatty Acids Market:

  • The United States contributes 12.8% to the overall market, as per FMI’s assessment. The high market share of the country represents large, nationwide participation of manufacturers of polyunsaturated fatty acids.
  • Germany scored 7.2% of the global market, demonstrating its dominance in the European region. Over the years, businesses in Germany are expected to observe process efficiency and productivity, thus fueling market growth.
  • The United Kingdom is projected to expand at a significant CAGR of 5.1% over the next ten years. Robust expansion of the market is expected to attract many businesses in this country.
  • In 2023, Japan gathered a 3.2% market share globally. Enterprises are expected to strengthen their distribution channels to deeply penetrate the Japanese market.
  • Australia is expected to account for a 1.8% value share in 2023. Despite its relatively low market hold, the country offers enterprises many opportunities to explore the market.
  • India and China are estimated to register CAGRs of 4.9% and 4.6% over the forecast period.
  • Based on product type, omega-6 fatty acids are projected to attain a market share of 57.1% in 2023.
  • Under the application category, the dietary supplement segment is expected to attain 27.2% in 2023.

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Key Developments in the Market

  • Aker BioMarine ASA collaborated with Gambol Pet Food Group of China in November 2021 to widen its business in the Chinese pet food market.
  • VivoMega declared in December 2020 that it is partnering with Bioscope Viet Nam, aiming to capture the Vietnamese market of omega-3 fatty acids.
  • LUS Health Ingredients and Novosana B.V. partnered in April 2020 to work on the vegan omega-3 industry.

Top Key Player in the Global Industry

  • Koninklijke DSM N.V.
  • BASF SE
  • Croda International PLC
  • Enzymotec Ltd.
  • Omega Protein Corporation
  • Aker BioMarine AS
  • Polaris Nutritional Lipids
  • FMC Corporation
  • Cargill, Incorporated
  • GlaxoSmithKline plc.

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Key Segmentation 

By Product Type:

  • Omega-3 Fatty Acids
  • Omega-6 Fatty Acids

By Source:

  • Marine
  • Plant
  • Chia Seed Oil
  • Flax Seed Oil
  • Other

By Application:

  • Dietary Supplement
  • Infant Formula
  • Pharmaceuticals
  • Food and Beverages
  • Animal Food and Feed

By Form:

  • Oil
  • Syrup
  • Softgel and Capsule
  • Other (Powder, Emulsion, and Gummy Candy)

By Region:

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

About Future Market Insights (FMI)

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