Driving Forward: Automotive Plastics Industry Poised to Reach US$ 136.3 Billion by 2033 with a 6.9% CAGR

The global automotive plastics industry was valued at US$ 64.8 billion in 2018 and reached US$ 65.6 billion in 2022.

The market is predicted to increase at a 6.9% CAGR from 2023 to 2033, reaching US$ 136.3 billion by the end of 2033.

Key Takeaways:

  • The global market for automotive plastics is projected to witness a CAGR of 9% during 2023 to 2033.
  • With the significant increase in the sales and production of automotive vehicles, China is anticipated to remain a prominent country in the market growing at 8% CAGR through 2033.
  • By material type, the polypropylene segment is expected to remain the key segment and is estimated to account for 3% of the total volume in 2023.
  • By end use, the conventional vehicles segment is anticipated to lead the global automotive plastics industry in 2023 and is expected to continue this lead growing at 8% CAGR through 2033.
  • The top 5 players in the market, accounting for a share of around 50% to 55% in the global automotive plastics industry.

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Innovation Could Be Key to Success for Automotive Plastics Manufacturers!

Stringent fuel efficiency and pollution requirements, as well as the modernization and future-readiness of self-driving cars, are pushing up global sales of automotive plastics.

The primary goal of self-driving cars is to maximize fuel efficiency in order to reduce emissions and improve overall performance. To achieve these objectives, the use of automotive plastics such as reinforced polymers and composites has become critical. These plastics are significantly lighter than traditional materials like steel, allowing self-driving cars to be more fuel efficient.

As more of these cutting-edge vehicles become commonplace and outfitted with cutting-edge sensor systems, the need for automotive plastics rises.

The increasing integration of smart infotainment systems and connection functions in vehicles is expected to increase demand for plastic components in the automobile industry. Plastics are utilized in the production of touchscreen displays, control panels, and electronic device housings. The rapid improvements in automobile safety technologies have increased demand for specific plastic components.

Impact-resistant plastics, such as polycarbonates, are used in airbags, bumpers, and other safety-related components. 3D printing has also recently emerged and become widely used in the automotive industry. The growing emphasis on producing bio-based and recycled materials to lower the industry’s carbon footprint is expected to boost the worldwide automotive plastics market through 2033.

“Rising demand for high-quality, lightweight, and durable components, and advances in safety features has spurred demand for automotive plastics globally. Increased integration of infotainment systems and connectivity features in vehicles are anticipated to present key revenue opportunities over the forecast period.”- says a lead analyst at FMI

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Competitive Landscape

BASF SE, The Dow Chemical Company, Saudi Basic Industries Corp (SABIC), Covestro AG, DuPont de Nemours, Inc., Arkema Group, Sumitomo Chemical Co., Ltd., Mitsui Chemicals Inc., Formosa Plastics, Evonik Industries, Eastman Chemical Company, LyondellBasell Industries N.V., and Hanwha Group are some of the manufacturers of automotive plastics profiled in the full version of the report.

The automotive plastic market is witnessing consolidation as a result of mergers and acquisitions. Large multinational companies are acquiring smaller players to expand their product portfolio and geographic reach.

Automotive plastics manufacturers are focusing on developing bio-based and recycled materials to reduce the industry’s carbon footprint. These sustainable alternatives provide similar performance characteristics while reducing dependency on fossil fuels.

For instance,

  • In September 2022, BASF and Citroën unveiled the all-electric concept car Oli, a platform of how much can be saved through weight reduction and resource BASF has been following a determined sustainability strategy for many years.
  • In March 2022, Covestro AG commissioned its two production lines for manufacturing polycarbonate compounds at its Greater Noida plant, in New Delhi, The new plant aims to meet the rising demand for composite plastics, especially in the automotive, electrical, and electronics businesses.

The automotive industry is continually striving to streamline its supply chain and reduce costs. Plastic manufacturers are adopting efficient production processes, such as injection molding and 3D printing, to optimize manufacturing operations and meet the industry’s demand for cost-effective solutions. These supply-side trends highlight the ongoing transformation in the automotive plastic market.

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More Insights into the Automotive Plastics Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global automotive plastics market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.

To understand the global market potential, growth, and scope, the market is segmented based on material type (polypropylene (PP), polyurethane (PUR), acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), polyethylene (PE), polystyrene (PS), polycarbonate (PC), polyamide (PA), acrylic (PMMA, etc.), plastic composites, others) application (interior components, exterior components, and frame) end-uses (conventional vehicles {passenger cars, light commercial vehicles, heavy commercial vehicles} electric vehicles {pure electric, hybrid electric }) and region (North America, Latin America, Europe, East Asia, South Asia, and the Pacific, Middle East & Africa) .

About FMI – Chemicals and Materials

The chemicals and materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, and renewable technology developments, supply-demand-trade assessment.

Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

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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Thermal Insulation Material Industry Set for US$ 122 Billion by 2033 with 5.6% CAGR

The thermal insulation material market is expected to reach US$ 70.74 billion by 2023 with a 5.6% CAGR, Rising to US$ 122 billion by 2033: The effectiveness of polyurethane foam, mineral wool, and polystyrene foam in building insulation.

There are other goods on the market with similar physical and chemical qualities. This measure represents a thermal insulation material’s thermal conductivity (lambda). Thermal conductivity coefficients represent a material’s ability to function as a thermal insulator, demonstrating its energy efficiency.

Researchers have developed a revolutionary non-toxic insulation material that aids in noise and thermal transfer reduction in building construction. It has a lower environmental impact because it is derived from a natural product. University of Maryland engineers created an insulwood substance that can be used to insulate structures such as walls and roofs. It is not only permeable and scalable, but it is also cheap. Insulwood, on the other hand, is made from the natural lignin and hemicellulose contained in wood, rather of the poisonous or petroleum-based compounds found in traditional insulation.

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Environmentally friendly insulating materials that are neither hazardous to occupants or the environment can be used to make buildings more energy-efficient and noise-proof. Manufacturers who use this renewable, eco-friendly material for thermal and acoustic insulation provide humans with a comfortable living environment. ORNL scientists have created an environmentally friendly alternative insulation that is free of hazardous chemicals. Hollow glass spheres are combined with expandable polymer microspheres to create thermoplastic foam. The technology, which is easily adopted by industry, can benefit a wide range of insulating systems.

Key Takeaways

  • Investing more in urbanization projects to excel in the market and a relatively active construction industry to grow demand for thermal insulation material.
  • Consumer awareness about energy consumption and the growing demand for reducing the cost of energy should drive the market.
  • Regulations and initiatives to increase energy efficiency and sustainability in the government to grow the market.
  • Increasing energy efficiency in buildings and innovation in smart technologies will drive the market for thermal insulation.
  • India’s government is heavily investing in the construction industry, driving market growth for thermal insulation products.

“With the growing demand for construction applications, suppliers of thermal insulation material will see their growth thrive. The development of new technologies and advancements in materials will lead to an increase in demand for thermal insulation material in the coming years.,”, says an FMI analyst

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Competitive Landscape

Strategic partnerships are being formed between technology firms and thermal insulation material manufacturers. Organizations are looking to expand their product lines, technology capabilities, and marketing presence to gain a greater share of the market. Innovative products could be developed by combining strengths across companies.

Several companies improve their products through research and development. Gaining a competitive advantage can also be achieved through the launch of new products.      

Market Developments Include:

  • In February 2023, Dalsan and Saint-Gobain received approval from the Turkish competition authorities for the merger of their plasterboard and plaster products businesses.
  • In March 2023, Japan-based Thermalytica developed a super insulation material that improves liquid hydrogen storage and transportation efficiency. Due to its high porosity and liquid-like fluidity, this patented material provides superior thermal insulation, heat shielding, and liquid-like fluidity. It can be used for liquid hydrogen logistics, thermal runaway mitigation in EV batteries, and home window insulation, among other uses. By April 2024, Japan will begin pilot production of the technology.

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Top Key Players in the Global Industry

  • Asahi Kasei Corporation
  • BASF SE
  • E. I. du Pont de Nemours and Company
  • Rockwool International A/S
  • Berkshire Hathway (Johns Manville)
  • Bayer AG
  • Owens Corning
  • Dow Chemicals Company
  • Kingspan Group PLC
  • Saint Gobain S.A.

More Valuable Insights Available

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

To understand opportunities in the thermal insulation material market, the market is segmented on the basis of material type (stone wool, fiber glass, plastic foam, and others) and temperature range (-160oC to -50oC, -49oC to 0oC, 1oC to 100oC and 101oC to 650oC) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & 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 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team briefly analyzes 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
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Vehicle Radar Test Systems Market Set to Surge with a 12.1% CAGR, Reaching US$ 12,986 Million by 2032

The overall vehicle radar test systems market is presumably going to be regarded at US$ 4128.0 million out of 2022 and is expected to get a strong CAGR of 12.1% through 2032. The interest in vehicle radar test systems should create a value of US$ 12,986.0 million by 2032.

Growing foundations of radar sensors and ADAS (undeniable level driver help systems) sub-systems have provoked the introduction of Vehicle Radar Test Systems (VRTS) as Vehicle Radar Test Systems. This structure can be used for RF assessment and for testing both gear and programming subsystems of an auto including introduced programming, ADAS systems, and radar sensors.

Vehicle radar test structure effectively plans advanced ADA systems to deal with vehicles’ security and enduring nature. Vehicle Radar Test Systems enable modernized radar assessment and tangle generation capacities with respect to vehicular radar systems (the repeat changes with various VRTSs). For instance, the NI Vehicle radar test structure coordinates with vehicular radar systems working more than 7 to 81 GHz repeat.

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A Vehicle Radar Test System assists an expert during a radar structure improvement with handling – from its R&D to its high-volume delivering test and enables him to pass strong free driving development on to adjust to creating regulatory necessities.

Vehicle Radar Test System Market: Drivers and Challenges:
Change from hindrance age for useful conduct testing, as empowered by customary auto radar test systems, to dynamic obstruction age and extensive RF trademark estimations is supposed to drive the interest in vehicle radar test systems.

The vehicle radar test framework’s element of consolidating and synchronizing with other estimation equipment all the while reproducing numerous sensor types, in sensor combination testing applications, likewise goes about as a driver for the equivalent.

The worldwide extension and reception of radar sensors simultaneously support the interest in Vehicle Radar Test Systems, going as an essential driver for the worldwide Vehicle Radar Test System market. Moreover, the normal presentation of completely mechanized vehicles in the gauge period will likewise drive the general Vehicle Radar Test System Market.

The essential variable hampering the development of the Vehicle Radar Test System is the intricacy related to its establishment. Coordination of the radar module into a vehicle’s foundation,, amounts to intricacy. Furthermore, the significant expense related to vehicle radar test framework goes about as a controlling component for the development of the worldwide vehicle radar test framework’s market.

Leading Key Players:
Some of the key players in the Vehicle Radar Test System market are National Instruments, NOFFZ Technologies, Konrad GmbH, KEYCOM Corp., SAE International, and Anritsu Corporation.

In October 2017, NOFFZ Technologies partnered with National Instruments to provide the NI Vehicle Radar Test System (VRTS).

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Vehicle Radar Test System Market: Regional Overview:
By geography, the Vehicle Radar Test System market can be segmented across North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and the Middle East & Africa. Among various regions, North America is expected to dominate the global Vehicle Radar Test System Market during the forecast period, owing to the high presence of vehicle radar test system manufacturing players in the region. Europe and APEJ are expected to grow at a relatively faster rate in the forecast period, corresponding to the increasing adoption of fully automated vehicles in the respective regions, especially Germany, Japan, and China.

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

Vehicle Radar Test System Market Segmentation:

By Components:

  • VST (Vector Signal Transceiver)
  • VDG (Variable Delay Generator)
  • PXI Controller
  • Antennae

By Application:

  • Research and Development
  • Radar Module Manufacturing
  • Vehicle Manufacturing
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa (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.

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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Coated Fabrics Industry on an Upward Trend: Projected US$ 73.8 Billion by 2033

The global coated fabrics market is anticipated to reach a valuation of US$ 45.3 billion in 2023, driven by rising eCommerce platforms and online retailing. The trend is likely to open up new prospects for the market, resulting in a projected CAGR of 5.0% between 2023 and 2033, with a total valuation of around US$ 73.8 billion by 2033.

One of the primary factors driving the growth of the coated fabrics market is rising demand from various end-use industries. Demand is increasing in a range of industries, including automotive, construction, aerospace, healthcare, and industrial. Coated fabrics are widely used in the automotive industry for both interior and exterior applications like as seating, airbags, and upholstery.

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Coated fabrics are used in the construction sector for architectural membranes, roofing, and awnings. Coated fabrics are used in the healthcare business for medical gowns, protective garments, and surgical drapes. Coated fabrics’ versatility and wide range of uses in a variety of industries are boosting their demand.

In numerous industries, there is a growing preference for lightweight materials, with an emphasis on fuel efficiency, decreased emissions, and sustainability. Because of their lightweight nature and better performance features, coated fabrics are a suitable alternative to traditional materials such as leather, metal, and glass. The materials offer advantages such as increased strength, durability, weather resistance, and flexibility, making them particularly appealing in situations where weight reduction is critical.

Increasing research and development investments is another aspect that is predicted to have a big impact on market growth. Major players in the coated fabrics market are investing heavily in R&D to produce innovative products and acquire a competitive advantage. The investments will go toward the development of enhanced coatings, the exploration of novel materials, and the improvement of the overall performance of coated fabrics. Continuous R&D efforts are propelling product advances and broadening the application area of coated fabrics.

Stringent safety and quality standards, which create a considerable demand for coated fabrics, are another factor driving market expansion. Automobile, aircraft, and healthcare industries, for example, are subject to severe safety and quality rules. Coated fabrics, which provide qualities like as flame resistance, chemical resistance, and durability, play an important part in achieving these regulatory criteria. As regulations become more strict, the need for high-performance coated fabrics that meet safety standards is projected to rise.

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Key Takeaways from the Market Study

  • Global coated fabrics market was valued at US$ 43.1 billion by 2022-end.
  • From 2018 to 2022, the market demand expanded at a CAGR of 2.5%.
  • China is expected to hold a dominant CAGR of 4.9% during the forecast period.
  • By Application, the protective clothing segment is expected to constitute a CAGR of 4.9% in 2033.
  • On the basis of Material Type, the polymer segment is expected to dominate the market with a CAGR of 4.8% in 2033.
  • From 2023 to 2033, coated fabrics market is expected to flourish at a CAGR of 5.0%.
  • By 2033, the market value of coated fabrics is expected to reach US$ 73.8 billion.

Expansion of online retailing, across the globe is a major factor that is expected to propel the growth of the coated fabrics market in the near future, remarks an FMI analyst.

Competitive Landscape

Prominent players in the coated fabrics market are Saint Gobain S.A, Bayer AG, PPG Industries, Akzonobel N.V., Seaman, Sioen, Spradling International, 3M Company, Valspar Corporation, E.I. du Pont de Nemours and Company, BASF SE Paints, Nippon Paints, and Sherwin Williams, among others.

Recent Developments

  • In 2022, Saint-Gobain Performance Plastics introduced a new line of high-performance coated fabrics with improved chemical resistance and enhanced durability, catering to demanding applications in the chemical processing and oil and gas industries.
  • In the same year, Seaman Corporation expanded its coated fabrics portfolio with the introduction of a new fabric technology that provides exceptional UV resistance and weatherability, suitable for outdoor applications such as roofing and geomembranes.
  • In 2021, Sioen Industries acquired Verseidag-Indutex GmbH, a leading manufacturer of coated fabrics for various sectors, including architecture, digital printing, and transportation. The acquisition aimed to strengthen Sioen’s position in the coated fabrics market and expand its product portfolio.
  • In the same year, Spradling International Inc., a leading provider of coated fabrics, introduced an innovative antimicrobial coating technology for its fabrics, offering enhanced protection against bacteria and viruses.

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More Valuable Insights Available

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

To understand opportunities in the coated fabrics market, the market is segmented on the basis of application (commercial tents, furniture, industrial, protective clothing, transportation, and others), by material type (polymer coated, rubber coated, and others), across seven major regions (North America, Latin America, Eastern Europe, Western Europe, Middle East & Africa (MEA), Japan, and Asia Pacific (Excluding Japan)).

The chemicals & 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 Billion+ 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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Two-Wheeler Lubricants Industry Forecast: A 3.4% CAGR Leading to US$ 24.7 Billion by 2033

The two-wheeler lubricants industry is expected to increase from US$ 17,697.3 million in 2023 to US$ 24,723.7 million in 2033.

Synthetic oil is the Favored Choice

Crude oil, tight oil, and other additives are required for the manufacture of all lubricants. Lubricants include a variety of additives that improve their functionality and characteristics. Among these additions are antioxidants, severe pressure additives, rust and corrosion inhibitors, detergents, viscosity index improvers, anti-wear agents, and dispersants.

Lubricants are composed of 90% base oil and 10% additives, with base oils containing petrochemical fractions such as fluorocarbons, esters, polyolefins, and silicones. Base oils increase lubricant viscosity while also protecting against wear and tear. The two most common base oils used in lubricant formulations are paraffinic and naphthenic.

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Lubricants are an essential component of ever-expanding industries. They are used to reduce friction and wear and tear between two moving parts of machinery. They are essential for proper machinery operation and might be petroleum-based or water-based. Lubricants also help to prevent operational downtime, which boosts overall productivity.

While mineral oils remain popular, companies are concentrating their efforts on increasing the production of synthetic and semi-synthetic oils. Its purpose is to address the increasing demand for quality synthetic two-wheeler lubrication products. Manufacturers are focused on non-mineral oils in light of the adoption of new engine technologies in modern automobiles, as well as growing consumer awareness of synthetic lubricant performance benefits.

The trend toward premiumization of products for better warranty and longer oil drain intervals is expected to need a greater usage of synthetic components in two-wheeler lubrication engines. Furthermore, some market competitors are focused on the development of effective bio-based lubricants in order to address the growing demand for green fuels and sustainable solutions.

The use of two-wheeler lubricants in motorcycles, particularly mopeds and standard models, has been high than in scooters. Manufacturers are focused on product advancements and new advances. It is to give an optimal ride experience with the rise of next-generation motorcycles that permit efficient clutch operation and require multi-functional lubricants.

Key Points from the Two-Wheeler Lubricants Market

  • The marketis predicted to expand at a 3.4% CAGR through 2033.
  • Rising pollution and traffic congestion are boosting the market.
  • The marketis expected to surpass US$ $ 24,723.7 billion by 2033.
  • Asia Pacific is dominating the global two-wheeler lubricants market by 2033.

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Key Development in the Two-Wheeler Lubricants Market

  • In January 2018, Castrol announced New Castrol Active, a two-wheeler engine oil type. The new product assists the corporation in expanding its product offering.
  • Cummins Inc. and Valvoline Inc. renewed their long-term technology and marketing partnership for the next five years in October 2021. Cummins sells and endorses Valvoline goods through its global distribution channels under this agreement.
  • July 2021 – Valvoline All-Terrain is a new engine oil specifically intended for off-highway, heavy-duty diesel engines operating in harsh situations. According to Valvoline, All-Terrain was developed with a concentration on wear protection in equipment operating in harsh environments such as mining, construction, and agriculture.
  • Total Energies and Stellantis renewed their collaboration for Peugeot, Citroen, and DS Automobiles for another five years in June 2021. This collaboration also prioritizes research and development efforts toward long-term growth and innovation.
  • March 2021 – Nissan Motor India announced an arrangement with ExxonMobil to supply passenger vehicle aftermarket lubricants. The company provides a diverse range of engine oils suited not just for BS6-compliant vehicles but also for BS3 and BS4 models.
  • In February 2021, Shell announced carbon-neutral lubricants for passenger cars, heavy-duty diesel engines, and industrial applications. Shell has a multi-year strategy to help clients manage their sustainability needs. By preventing, decreasing, and offsetting emissions, the corporation hopes to reduce the carbon intensity of its products.

Top Key Player in the Global Market

  • BP PLC
  • Pertamina
  • Petronas
  • PTT Lubricants
  • Royal Dutch Shell PLC
  • ExxonMobil Corporation
  • Total S.A.
  • Chevron Corporation
  • Petron Corporation
  • Motul

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Key Segmentation

By Product:

  • Synthetic Oils
  • Semi-Synthetic Oils
  • Mineral Oils
  • Bio-Based Lubricants
  • Greases

By Two-Wheeler Type:

  • Motorcycle
  • Scooter

By Sales Channel:

  • OEM
  • Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • 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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Smart Electric Meter Market Set to Surge with 10% CAGR, Reaching US$ 54,254.7 Million by 2032

The smart electric meters market is 2022 anticipated to be valued at US$ 20,983.3 million, growing at a CAGR of 10.0%. The market is anticipated to be valued at US$ 54,254.7 million by 2032.

The market for smart electric meters has grown globally as a result of the rising need for precise billing and initiatives to conserve energy. The business environment for the market for smart electric meters has been further enhanced by the electricity network’s quick expansion and the increase in smart grid investment. Utility companies can increase their revenue collection using smart electric meters by improving the accuracy of their invoicing.

A recent development in the market for smart electric meters is the demand for these devices in distribution, automation, and renewable energy integration applications. The market’s demand for smart electric meters will further rise as a result of a future project on electric vehicle fuel.

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Smart Electric Meter Market: Drivers and Challenges
The increase in electricity demand is driving the growth of the global smart electric meter market as governments use the technology to reduce energy consumption and make use of available energy to improve access to electricity for people in areas not connected to grid power. Increasing energy prices and growing instances of electricity theft is also a driver that will further boost Smart electric meter demand.

The wireless signals from these smart electric meters lead to health problems making this a major challenge in the market. Other challenges for the smart electric meter market would include regulatory constraints and fierce competition among other players in the global smart meter market.

Smart Electric Meter Market: Competition Landscape

Key Contracts:
In June 2017, Comverge a company famous for its integrated cloud-based demand response, energy efficiency, and customer engagement solutions was acquired by Itron which provides solutions to measure, manage, and analyze energy and water through smart electric meters and smart meters.

In September 2015, Aclara acquired General Electric’s electricity metering business. The acquisition strengthened Aclara’s position in the smart electric meter market. Aclara is famous for its metering in the North American region specifically.

Leading Key Players:
Major industry participants in the Smart electric meter market include Seimens, Itron, Schneider Electric, Landis+GYR, Holley Metering, Iskraeeco, Osaki Electric, Sensus Sentec, Neptune Technology, Honeywell International, Badger Meter, Elster Group and Tableau Software among others.

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Regional Overview:
North America is expected to be the largest market for Smart electric meters due to major growth in the market. The main reason for this is the growth in infrastructure, strict government policies, and the emergence of smart cities.

Asia Pacific is expected to manifest high growth over the foreseeable future. Europe the Middle East and Africa can be seen emerging in this market.

Smart Electric Meter Market Segmentation:

By Product:

  • Smart Electric Meter
  • Smart Water Meter
  • Smart Gas Meter

By End-Use:

  • Residential
  • Commercial
  • Industrial

By Phase:

  • Single
  • Three

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • META
  • Europe

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 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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Single Electron Transistor Market Poised for Impressive 9.7% CAGR, Eyes US$ 14.7 Billion Valuation by 2032

The demand for the single electron transistor market is anticipated to increase at a CAGR of 9.7% over the course of the forecast period, reaching an estimated value of US$ 14.7 billion by 2032.

Due to the growing number of switching devices, which are used to regulate electron tunnelling to amplify current, the market share of single electron transistors is likely to rise.

Single electron spectroscopy, ultrasensitive microwave detectors, infrared radiation detection, and other digital and analogue fields are expected to see an increase in demand for single electron transistors, which is expected to propel the growth of the single electronic transistor market.

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The Single Electron Transistor (SET) is a type of electronic device that operates by controlling the flow of individual electrons through a semiconductor material. SETs have the potential to revolutionize the electronics industry by providing low-power, high-speed computing solutions.

The global single electron transistor market is expected to grow significantly in the coming years, driven by factors such as increasing demand for high-performance computing, growing adoption of Internet of Things (IoT) devices, and the need for low-power consumption in electronic devices.

The Asia Pacific region is expected to be the fastest-growing market for SETs due to the increasing adoption of IoT devices and the growing demand for high-performance computing solutions in countries such as China, Japan, and South Korea.

the single electron transistor market is poised for significant growth in the coming years, driven by the increasing demand for high-performance computing and the need for low-power consumption in electronic devices.

Who are Some of the Prominent Rivals in the Single Electron Transistor Market?
The single electron transistor market is consolidated by the key prominent rival to expand their business all around the globe. These key players along with the manufacturers are making several marketing tactics to boost the single electron transistor market size during the forecast period.

Numerous strategies are implemented by market players to improve their position in the market. Some of these strategies include mergers, acquisitions, product launches, and partnerships among others to boost the single electron transistor market.

Recent Development in the Single Electron Transistor Market are:
The newly launched single electron transistor is beneficial to maintain the thermal power and keep the electron temperature below the Coulomb energy.

Leading Key Players:

  •  Supracon AG
  •  Continental Device India Limited
  •  ON semiconductors
  •  4 Star Electronics Pvt Ltd
  •  Toshiba Schneider Inverter Corporation

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Single Electron Transistor Market Segmentation:

By Transistor Type:

  • Metallic
  • Semiconducting

By Application:

  • Single electron memories
  • Infrared radiation detection
  • Ultrasensitive Microwave detectors
  • Supersensitive Electrometers

By Regions:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • 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
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Used EV Market Share Projected to Reach US$ 40,078.9 million by 2033 with 8.4% CAGR: Global Analysis

The global Used EV Market Share is estimated to be worth approximately US$ 17,890.5 million in the current year, with a projected compound annual growth rate (CAGR) of 8.4% over the forecast period. According to the latest analysis of the global used EV market, it is expected that the market’s total value will reach US$ 40,078.9 million by the year 2033.

The international movement against global warming has had a positive and unprecedented impact with demand for electric vehicles experiencing a growing shock in every area. The increasing viability and affordability of pre-owned EVs, the popularity of high-end models, and extra subsidies and discounts that purchasers may take advantage of have strengthened the market.

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To sum up, FMI predicts that electric cars are getting more and more affordable, irrespective of economic level, and the demand for used electric vehicles is anticipated to rise as time goes on!

Key Takeaways from the Used EV Market Study

  • By having a huge market for electric vehicles than any other country, the United States is figured to have become the second leading market following Germany. The net worth of all used EVs purchased in the United States in 2022 summed up to US$ 1,429.3 million and acquired 8.7% of the global revenue.
  • Germany, on the other hand, generated a revenue of US$ 2,217.8 million in 2022 from the resale of electric vehicles in the country. By the virtue of the presence of some of the leading used EV market players, it acquires 13.5% of the global market.
  • Contrarily, the United Kingdom is one of the notable regions experiencing an above-average growth rate in the adoption of used EVs. In the present years, it is experiencing an annual growth rate of 12.6% which is expected to continue for the next ten years.
  • Among the Asia Pacific countries, Japan is the leading region in the sale and resale of different types of electric vehicles. As per the survey report, the value of total used electric vehicles sold in the country was approximately US$ 575 million in 2022.
  • Presently China is a remarkably growing region in the adoption of used EVs in the Asia Pacific region. According to the market analysis report, China used EV market is projected to register a CAGR of 9.8% over the forecast years.
  • India is poised to set the record for demand and adoption of used EVs against any other country in the Asia Pacific. As per the experts at FMI, the annual growth rate of this emerging economy is anticipated to be around 9.8% from 2023 to 2033.
  • Australia is another notable country studied for the market analysis for the recent rise in demand for used EVs in the country. Based on the used EV resale statistics figures, the net valuation of this used commodity in the country is expected to be around US$ 561 million by 2033.

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Competitive Landscape for the Used EV Market

Some of the renowned automotive companies that have also become used EV dealers are Audi AG, BMW AG, Hyundai Motor India, Jaguar Land Rover Limited, Mahindra and Mahindra Ltd., Mercedes-benz AG, MG Motor India PVT. Ltd., Olectra Greentech Limited, Tata Motors, and Toyata Motor Corporation among others.

Key Segments of Global Used EV Market

By Propulsion Type:

  • Battery Electric Vehicles (BEV)
  • Hybrid Electric Vehicles (HEV)
  • Plug-in Hybrid Electric Vehicles (PEV)
  • Fuel Cell Electric Vehicles (FCEV)

By Vehicle Type:

  • Two-wheelers
  • Passenger Cars
  • Commercial Vehicles
  • Others

By Vehicle Drive Type:

  • Front Wheel Drive Electric Vehicles
  • Rear Wheel Drive Electric Vehicles
  • Others

By Region:

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

Author

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

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

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

About Future Market Insights (FMI)

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

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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EV Transmission System Market Share to Surge at 17.8% CAGR, Reaching US$ 45282.3 Million by 2033

The global EV transmission system market share is projected to register at a moderate-paced CAGR of 17.8% over the forecast period. The EV transmission system market is currently valued at US$ 8799.9 Million in 2023. By 2033, demand for EV transmission systems is expected to reach US$ 45282.3 Million.

Key Takeaways

  • In 2023, the European region will account for 46% of all revenue.
  • Over the period from 2023 to 2033, the demand for battery EVs is projected to exceed US$ 20,000 Mn.
  • In terms of total revenue, the AT transmission system segment is expected to account for almost 55% by 2023.
  • In 2023, vehicles made up 61% of the revenue pie by type of vehicle.
  • It is projected that the offline EV transmission system market would expand at a CAGR of 22.39% between 2023 and 2033.

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The EV transmission industry is expanding due to several factors, including the increasing popularity of EVs and the growing demand for clean automobiles. The EV transmission system market is also expected to benefit from government programs that encourage the purchase of electric vehicles. However, the expensive price of EVs is slowing the expansion of the sales of the EV transmission system. In addition, developments in EV technology and the deployment of Vehicle-To-Grid (V2g) EV charging stations are anticipated to create

Due to their lighter weight and smaller size, these engines generate fewer harmful emissions. These downsized small engines are multifaceted due to their compact and cost-effective design. As a result, major players in the EV transmission industry have a lot of room to grow owing to the advancement of transmission system technology for EVs.

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Competitive Landscape

Leading companies in this industry include Dana Limited, ZF Friedrichshafen AG, AVL List GmbH, Continental AG, and Eaton. Most of these businesses are investing in expanding production to reduce emissions from cars and the auto industry.

Continental AG has started mass production of its electric powertrains in China, and it is already being used by both European and Chinese Original Equipment Manufacturers (OEMs). To further illustrate the quick shift in focus towards electrification in response to stricter emission laws, the company has ceased investing in components used in Internal Combustion (IC) engines. The major competitors in the EV transmission system market are investing heavily in R&D to create game-changing electric vehicle technology, which is projected to drive market growth.

Key Segments in the EV Transmission System Market

Vehicle Type:

  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Hybrid Electric Vehicle

Transmission Type:

  • Single Speed
  • Multi-Speed

Transmission System:

  • AMT Transmission,
  • CVT Transmission,
  • AT Transmission
  • Others

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Region:

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

Author

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

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

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

About Future Market Insights (FMI)

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

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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IV Bags Market Soars to US$ 5.31 Billion in 2032, with a 10.9% CAGR Projection for the Next Decade

IV Bag Market

The IV Bag Market is experiencing robust growth, poised to expand at a CAGR of 10.9% over the next decade. Valued at US$1.89 billion in 2022, this market’s progress is driven by the increasing demand for preventive measures addressing issues like dosage accuracy and the need for advanced IV container solutions. By 2032, the market is projected to reach a substantial value of US$ 5.31 billion.

Production facilities for IV bags are strategically positioned in key markets, such as Europe and North America, often driven by the proximity to clients and regulatory requirements. Although some companies relocated production to low-cost regions, challenges like quality concerns and logistical issues have prompted a reevaluation of strategies. Emerging trends are leading industry leaders to optimize supply chains based on cost-effectiveness, quality, and accessibility. Manufacturing hubs like Costa Rica and Malaysia are gaining prominence due to their ability to meet these criteria, aided by government incentives to attract multinational corporations.

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Market Restraints|: 

The risk of infection and collapsing of veins due to the needle being attached for a longer period is a concern of many authorities which may hamper the IV bags market. The improper monitoring of the intravenous therapy can also cause the nutrient imbalance in the patient body. The presence of substitute of IV bags such as plastic bottles, glass bottles, and infusion pumps to control the flow of the solution into the veins can resist the growth of the IV bags market. IV bags are commonly manufactured of the standard size of 1 liter, and children cannot be exposed to such large size of a solution of electrolyte. So in developing countries where patient to staff ratio is extremely small IV bags market may not have future growth, especially if there is some technological development which is as cheap as IV bags. However, the replacement of PVC material with eco-friendly materials could provide product development opportunities into the IV bags market.

Market Segmentation:

IV bag market can be segmented by the type of material used and by the end use and by capacity.

Based on the type of material used, IV bag market can be segmented into:

  • PVC
  • Ethylene vinyl acetate
  • Polypropylene
  • Copolyester ether

Based on the type of end use, IV bag market can be segmented into:

  • To correct electrolyte imbalances
  • To deliver medications
  • Blood transfusions
  • Blood Storage

Based on the size, IV bag market can be segmented into:

  • 0 – 250 ml
  • 250 – 500 ml
  • 500 – 1000 ml

Regionally global IV bag market is segmented into

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia-Pacific excluding Japan (APEJ)
  • Middle East & Africa (MEA)
  • Japan

Key Players:

Some key players of IV bag market are Mountainside Medical Equipment, Kraton Performance Polymers Inc., Renolit, Angiplast Pvt. Ltd, Medline Industries, Inc., Baxter, Sippex IV bag, Wipak Group Management, B. Braun Medical Inc., ICU Medical, Inc., Guangdong lejin medicine Co.,Ltd, Fresenius Kabi Group.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico, Brazil and Rest of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
Eastern Europe (Poland, Russia and Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, and Rest of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.

About Future Market Insights, Inc.

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

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