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Scented Candles Market is Set to Total US$ 5.4 Bn in 2032 | Grow at a 4.1% CAGR in 2032

The global scented candles market is estimated to surpass a valuation of US$ 3.6 Bn in 2022, with sale growing at a 4.1% CAGR through 2032.

Manufacturers are introducing limited edition scents and seasonal scents to boost sales. For instance, DIPTYQUE is selling a set of 5 scented candles that are part of a limited edition. Additionally, gift-giving options are being marketed for these candles.

Personalization is also taking centre stage in the market due to changing consumer preferences. In response, businesses offer customers the option to personalise and customise their candles by letting them select the scents and include messages and notes. Such changes are predicted to open up opportunities for market expansion.

Gamers now provide small limited-edition candles in addition to standard-sized candles, which are well-liked as gift choices. Some of the fragrances being promoted include berries, roses, pine trees, jasmine, musk, fig trees, wood fire, and mimosa.

Besides scents, companies are focusing on enhancing their packaging designs as the visual appeal of the product plays a major role in shaping consumer preferences. Leather bag inspired box, print box packaging, and eco-friendly sustainable packaging are some packaging options offered by the manufacturers.

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“Scented candles are being promoted as décor accents for homes as they provide ambient light and a luxurious visuals. Many of the scented candles are also being promoted as anxiety and stress reducer fragrances. Such developments are expected to augment the growth of the market through 2032,” says an FMI analyst.

Key Takeaways:

In terms of product type, container-based candles are expected to dominate the market.
Based on the shape, sales of round scented candles will grow at a 3.4% CAGR.
Demand for multi wick candles will increase at a 5.2% CAGR through 2032.
Sales through online channels are projected to grow at a healthy 6.9% CAGR over the assessment period.
The U.S. will continue dominating the North America scented candles market, driven by high demand for limited edition candles.
Sales in the U.K. scented candles market will increase at a 3% CAGR over the forecast period.
India will emerge as a lucrative market, with sales projected to increase at a 2.9% CAGR over the assessment period.

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Competition Landscape

Leading players operating in the global scented candles market are investing in promotional strategies, advertisements, and new product launches with limited edition scents to gain a competitive edge in the market.

Key players operating in the market profiled by FMI include Newell Brands, MVP Group International, Estee Lauder Companies, NEST New York, Thymes, LLC.,L Brands, Portmeiron Group Plc., The Yankee Candle Co. Inc., The White Barn Candle Co., Village Candles, Bridgewater Candles., etc.

Scented Candles Market By Category

Product Type:

Container Based Scented Candles
Pillar Scented Candles
Others

Shape:

Round
Flower
Heart
Oval
Others

No. of Wicks:

Single Wick
Multi Wicks

Region:

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

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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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Wall Decor Market is Projected at US$ 58.2 Bn in 2022 and Estimated to Reach US$ 70.9 Bn by 2027

The wall decor market is projected to be worth US$ 58.2 billion in 2022 and US$ 70.9 billion by 2027. From 2013 to 2021, the market expanded at a CAGR of 3.5 percent. Nearly 1% of the whole home decor business is made up of the wall décor sector.

As indicated by a recent intelligence study published by Future Market Insights, the expanding tourism and hospitality sectors continue to play a pivotal role in boosting the consumption of wall décor products worldwide, especially in the commercial sector. Moreover, the evolving structure of interior designing and thereby the growing significance, catalyze the global sales of wall décor and related products.

The market is currently witnessing a thriving trend of introduction of specialty wall décor items that suit distinct consumer segments and demographics, which prompts at a high potential yet relatively untapped opportunity in the market – specifically targeting the premium consumer class. Material and technological innovations are also identified as the prime factors influencing the market performance of wall décor products, according to the report.

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Smaller Market Players to Focus on R&D and Competitive Pricing

Around 40% share of the competitive landscape belongs to organized players, a majority of which are the market players, according to the report.

Although developing regional markets are emerging as high potential territories for investors, the report indicates that a majority of organized players generate more than half of their revenue from markets other than developing regions.

An extensive analysis of competitive strategies adopted by leading competitors in the wall décor landscape reveals that low cost production strategy is likely to help smaller players attain improved market shares. These companies are also projected to emphasize investments in product and technology R&D.

On the other side, market leaders are adopting a shift to online sales for a stronger global footprint.

Acte Deco recently announced the launch of their new customized range of solutions for floor coverings. The company generates a major portion of the revenue from custom wall décor solutions for residential as well as commercial end-consumers.

Theme-based wall décor is another growing trend that companies are capitalizing on. Artissimo Designs Inc., one of the prominent companies operating in the global wall décor landscape, is currently focusing on strengthening strategic associations with leading entertainment studios, artists, commercial entities, professional sports leagues, and design publishers for exclusive wall décor design projects.

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Digital Printing Creates a Hub of Opportunities

Wall laminates and printed wall décor have been the bestselling wall décor products, pushing the sales especially in the industrial domain. Whereas, the retail sector continues to consider modern wall décor as a vital part of the customer satisfaction strategy.

The advent of digital printing technology is fueling a few rapidly growing trends in the wall décor landscape. Digital wall paper printing, frame works, and mirror works represent some of the top selling wall décor items in residential, commercial, hospitality, educational institutes, and high-end showrooms. Digitally printed custom murals and wall arts are likely to witness higher sales in the near future.

US-based AtmosFX, a leading digital decorating products and services provider, recently executed an expansion of its flagship digital decoration collections. The new collections include digital printing wall décor and other products specifically for the occasions of Thanksgiving and Christmas.

Europe Continues to Uplift Wall Décor Sales

Europe, the largest consumer market for wall décor products, currently holds around 20% share in the global market value. The region continues to dominate, prominently driven by wooden wall décor sales and persistent demand for mirror works. Expansion of Europe’s hospitality sector is likely to further push regional revenue growth in the wall décor landscape, according to the report. North America, APEJ, and MEA are the next key markets for investors in wall décor items.

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Across developing economies, consumers continue to demand high quality superior aesthetics and durability with wall décor products, at convenient maintenance and competitive cost. This remains a long-term challenge for manufacturers, technology innovators, distributors, and other stakeholders across the wall décor market supply chain. Companies are however taking efforts to adapt to evolving market trends, keeping the cost of their wall décor and related products relatively competitive.

Global Wall Decor Market by Category

By Product Type:

Shelves
Wall Stickers
Hangings
Frame Works
Mirror Works
Metal Works
Others

By Base Material:

Wood
Fabric & Textile
Plastic
Glass
Metal
Others

By End Use:

Residential
Commercial
- Hospitality
- Salon & Spa
- Offices & Showrooms
- Restaurants
- Educational Institutes
- Spiritual Institutes
- Others

By Sales Channel:

Wholesalers/ Distributors
Hypermarkets/ Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Others (Club Stores, Gift Shops)

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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Vegan Cosmetics Market is Expected to surpass US$ 20 bn by 2030, likely to Grow Moderately in 2030

The global vegan cosmetics market to surpass US$ 20 bn by 2030, likely to Grow Moderately during the assessment period 2020-2030 . The market for vegan cosmetics will expand as a result of the fast shifting consumer preferences brought on by rising environmental concerns and the spiralling demand for cruelty-free and vegan cosmetics.

In the upcoming years, it is anticipated that the market for vegan cosmetics would grow significantly. The vegan cosmetics sector is growing thanks to protests against animal testing. In the West, the tendency is spreading at an unprecedented rate, and according to FMI, it will soon be common in many high-potential areas throughout the world.

Recent surveys indicate that British women are more inclined to buy cruelty-free cosmetics, yet only one-third of them rigorously adhere to the vegan lifestyle. FMI considers that social trends like the “clean beauty”

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Online channels has therefore evolved into a crucial window of sales for the market. Future Market Insights offers exclusive information on the global vegan cosmetics market. Some of these are:

Sales via ecommerce platform is expected to rise at a higher pace than physical stores
The U.S. market for vegan cosmetics is forecast to surpass US$ 3 Bn by the end of 2025
The presence of several established and regional brands has rendered global vegan cosmetics market highly competitive.

Who is winning?

The global vegan cosmetics market is a fragmented one, exhibiting the presence of several leading companies. Some of the market players profiled in the report are Ecco Zuzu Luxe, Bella, Bare Blossom, Urban Decay, Modern Mineral Makeup, Emma Jean Cosmetics, Arbonne, Pacifica, Beauty without Cruelty, Nature’s Gate, Billy Jealousy, and MuLondon Organic.

These companies are expected to focus on product launches and research and development to gain competitive advantage in the market.

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Vegan Cosmetics Market Key Segment

Product Type

Facial Products
Eye Products
Lip Products
Nail Products

Packaging Type

Pumps & Dispensers
Compact Cases
Jars
Pencils and Sticks
Tubes
Others

Consumer Orientation

Men
Women
Kids

Price Range

Mass
Premium

Sales Channel

Wholesalers/ Distributors
Modern Trade
Convenience Stores
Departmental Stores
Specialty Stores
Online Retailers
Others

Region

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

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Secondhand Apparel Market to Grow at a CAGR of 11.2% During the Forecast Period 2031

The global secondhand apparel market to grow at a CAGR of 11.2% during the forecast period 2021-2031, despite a period of slower growth in 2020, according to a latest study by Future Market Insights (FMI).

With the globalisation, the fashion industry considerably transformed. Changes in lifestyles as a result of industrialization, urbanisation, economic development, and globalisation have accelerated sales in the fashion industry last decade, particularly in developing countries and regions in rapid socio-economic transition.

E-commerce has transformed shopping experiences, with more than 60% of people choosing to buy products, services, and obtain commodities via the internet. Home delivery, subscription models, and other perks are major reasons for this change.

Product reviews and other features of e-commerce help merchants to study purchase patterns, and trends to create products and services that meet the needs of potential buyers. This provides useful information that retailers can use to develop effective marketing strategies.

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Key Takeaways from the Secondhand Apparel Market Study

Shirts & t-shirts are expected to hold a market share 29% in 2021 owing to changing consumer preference with an expanding working woman labour force.
Online retailing is likely to remain a lucrative channel of distribution over the forecast period with a 18.7% CAGR owing to the wider choice of products.
Sub-Saharan Africa will dominate MEA accounting for more than 50% of the value share through the end of 2031, owing to the popularity of used clothes.
Pakistan accounts for more than 40% of secondhand apparel sales in South Asia, owing to the presence of a large lower socio-economic consumer base.
Guatemala leads in the Latin America accounting for over 30% value share through the forecast period.

Impact of COVID-19 on the Market:

Consumers are not just buying fewer non-essential items, but they are also buying higher-quality clothing rather than cheap and disposable options. Customers have also transitioned from offline to online shopping options.

During the COVID-19 crisis, e-commerce has been dominant and retailers have invested in an online presence. Prior to the shutdown, internet retailers devised interim methods for the sales of their wares online.

The secondhand apparel market has been hampered by a labour shortage in the industry. Reduced transactions over viral transmission fears are have also caused issues in the short term.

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Who is Winning?

Key players in the secondhand apparel market are aiming for strategic collaborations and other marketing strategies to expand their business and attract a larger customer base.

Some of the key players present in the secondhand apparel market are ThredUp Inc., The RealReal, Patagonia Inc., Poshmark, StockX, Vinted, eBay Inc., Micolet, Thrift+, Tradesy Inc., Chikatex, HunTex Recycling Kft, A&E Used Clothing Corporation, Mobacotex, Percentil. Maroc among others.

Secondhand Apparel Market by Category

By Sector:

Resale
Traditional Thrift Stores and Donations

By Product Type:

Dresses & Tops
Shirts & T-shirts
Sweaters, Coats & Jackets
Jeans & Pants
Others

By Target Population:

Men
Women
Kids

By Sales Channel:

Wholesalers/Distributors
Hypermarkets/Supermarkets
Multi-brand Stores
Independent Small Stores
Departmental Stores
Online Retailers
Others

By Region:

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

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified 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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Colored Gemstones Market to Grow at a Healthy CAGR of over 5.7% in 2031

The global colored gemstones market to grow at a healthy CAGR of over 5.7% during the study forecast period 2021-2031, exhibiting a positive recovery from period of muted growth in 2020, according to a latest study by Future Market Insights. The research study tracks colored gemstones market in 20+ countries, offering a lucid analysis on how growth trend will unfold.

Mining operations have been harming the environment for a long time. Numerous businesses have been inspired to conduct themselves more responsibly within the industry by government measures to promote environmental protection.

Some of the players are working harder to maintain the highest level of operational transparency and provide the most ethically sourced coloured gemstones as a result of the shifting objectives of various countries across the world.

One such business, Gemfields, is making multiple steps to alter the mining industry’s culture in light of rising sustainability. The company is dedicated to conducting environmentally friendly mining activities. It collaborates with the appropriate authorities to conduct an evaluation of the environmental impact prior to beginning any operations.

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Key Takeaways from the colored gemstones Market Study

FMI has forecast the market to rise at a CAGR of 5.7% between 2021 and 2031
The U.S. will remain dominant market within North America, accounting for nearly 85% of market in the region
Incessantly rising demand for gemstones will enable the U.K. market exhibit above 8% y-o-y growth in 2021
Increasing spending power of consumers will support expansion in Germany and France
China will continue dominating East Asia market, trailed closely by Japan

“Establishment of online B2B store is expected to help the market boast increasing market. To capitalize on existing opportunities, players are engaged expanding their market network by collaborating with end-use industry giants.” says an FMI analyst.

Impact of COVID-19 on the Market

The colored gemstone is a global market with expansive supply chain. Stones travel across numerous borders and many hands before they are embedded in a beautiful jewelry.

The outbreak of novel coronavirus resulted in stopping travel, border closures, holding of shipping and cancellation of numerous trade shows that further hampered the market growth. The outbreak has impacted the industry mining and cutting operations and end use wholesale and retail thus affecting the market. But as the economies enter the reviving phase the market is slowly reflecting growth opportunities.

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Who is winning?

Some of the key players present in the colored gemstones market are Anglo American Plc, Gemfields group Ltd., Petra Diamonds Ltd., Rockwell Diamonds Inc., Gem Diamonds, Ltd., PJSC ALROSA, Swarovski Group, Botswana diamond Plc., Dominion Diamonds Corporation, Mountain Province Diamonds, Inc., Trans Hex Group, Ltd., MIF Gems Co. Ltd., Greenland Ruby, Merlin Diamonds, Ltd., Fura Gems, Inc. and among others. Extensive organization of trade shows, exhibitions and other such events has driven a desire among end consumers to adopt products embedded with colored gemstones.

Colored Gemstones Market by Category

Product Type

Colored Diamond
Emerald
Ruby
Sapphire
Others

End-Use

Jewelry & Ornaments
- Bangles
- Necklaces
- Pendants
- Earrings
- Rings
- Anklets
- Brooches
Luxury Arts

Product Format

Natural
Synthetic

Region

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

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Agricultural & Food Grade Rubber Conveyor Belt Market to Witness Huge Growth by 2028: To Grow at a CAGR of 4.9%

An agricultural & food grade rubber conveyor belt is a type of conveyor belt that transports agricultural and food products from one place to other. It is a solid band made from long-lasting substances on which several materials are conveyed. Two different types of rubbers are used for the manufacturing of rubber conveyor belts: natural rubber and synthetic rubber.

Natural Rubber is basically obtained from the latex sap of trees, particularly those trees which belong to genera Ficus and genera Hevea. On the other hand, synthetic rubber is generally a crumbly, white, plastic mass which can be vulcanized and processed using the same technique as natural rubber.

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The report covers ample information about market volume (‘000 meters), value (US$ Mn) projections and trends, market dynamics (drivers, restraints and opportunities), competition and recent developments concerning the global agricultural & food grade rubber conveyor belt market for the study period 2018–2028.

The global market is projected to reach a little over US$ 4,467.0 Mn by the end of the forecast period, registering a growth rate of 4.9%. The strong outlook for the food industry and increasing government initiatives pertaining to local food production are expected to provide a robust foundation for the growth of the global agricultural & food grade rubber conveyor belt market.

Global Agricultural & Food Grade Rubber Conveyor Belt Market Dynamics

Increasing food production across the globe will act as a catalyst for the overall growth of the agricultural & food grade rubber conveyor belt market during the forecast period. Moreover, growing demand for electronic devices and rising consumer inclination towards packaged food and beverages products are influencing manufacturers to increase their production efficiency by adopting automation in their manufacturing plants.

Thus, increasing adoption of automated production lines across various industries is estimated to fuel the growth of the agricultural & food grade rubber conveyor belt market over the forecast period.

On the flip side, one of the key challenges faced by the manufacturers in the concerned market is that major OEMs of conveyor belts have to battle on price front with low-quality belt manufactures. This is anticipated to be the key factor hampering the growth of the agricultural & food grade rubber conveyor belt market over the forecast period.

Moreover, with increasing technical complexity, cost for repair and maintenance has increased substantially over the years. Thus, increasing maintenance & service cost is also expected to act as a restraining factor for the growth of the concerned market in near future.

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Global Agricultural & Food Grade Rubber Conveyor Belt Market Forecast

Market insights suggest that the overall size of the global agricultural & food grade rubber conveyor belt market will expand at a significant rate over the forecast period. Various positive changes are expected to surge the growth of the global agricultural & food grade rubber conveyor belt market.

By region, SEA & Pacific is anticipated to dominate the global agricultural & food grade rubber conveyor belt market over the forecast period. SEA & Pacific, followed by China, is projected to remain the opportunistic regions.

In value terms, SEA & Pacific is estimated to create incremental $ opportunity worth US$ 411.9 Mn in the global agricultural & food grade rubber conveyor belt market over the forecast period. China, followed by Middle East & Africa (MEA), is projected to grow at a healthy CAGR over the forecast period.

By product type, the standard black rubber conveyor & elevator belt segment is anticipated to dominate the agricultural & food grade rubber conveyor belt market with a value of US$ 1,953.2 Mn in 2018.

However, the green food grade rubber conveyor & elevator belt segment is projected to account for less than 15% share in the global agricultural & food grade rubber conveyor belt market during the forecast period.

In terms of growth, the white food grade rubber conveyor & elevator belt segment is predicted to observe high growth rate during the forecast period.

By material type, the synthetic rubber segment is estimated to dominate the global market. In volume terms, the demand from synthetic rubber segment is expected to be pegged at 127,858 ‘000 meters by the end of 2028.

In value terms, the natural rubber segment is predicted to create incremental $ opportunity worth US$ 630.5 Mn in the global agricultural & food grade rubber conveyor belt market during the forecast period.

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Global Agricultural & Food Grade Rubber Conveyor Belt Market Competitive Landscape

Some of the key players involved in the manufacturing of agricultural & food grade rubber conveyor belts and included in this study are Continental AG, Dorner Mfg. Corp., MAFDEL, REVEYRON SAS, Siban Peosa SA, Trelleborg Slovenija d.o.o, VIS GmbH, Fenner PLC, Volta Belting Technology Ltd., SIG S.p.A, Artego SA, Derco BV, Ammeraal Beltech Group and Cobra Group (part of REMA TIP TOP Group).

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About Future Market Insights (FMI)

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Plus Size Clothing Market to Reach at US$ 1,044.3 Bn by 2032 | Projected at US$ 601.7 Bn in 2022

The plus size clothing market is projected to escalate at a CAGR of 5.7 from US$ 601.7 Bn in 2022 to US$ 1,044.3 Bn by 2032.

The COVID-19 epidemic had a negative impact on the market share for plus-size clothing. The sales of plus size apparel have fallen as a result of a lack of labour, production issues like fabric shortages and order cancellations, lower exports, and a decline in consumer spending on non-essential items.

Sales of plus size clothing are anticipated to increase at the quickest rate during the duration of the prediction. The need for products that give the same level of luxury as customers in other sizes will increase the market for plus-size clothes between 2022 and 2032.

In response to the rising demand for plus size clothing, retailers are focusing on launching plus size apparel. In order to attract more customers, Walmart launched a new plus-size brand named Terra and Sky in 2018. High street plus size apparel retailers such as River Island, Marks & Spencer, and New Look offer a wide range of plus size items to suit demand.

This move by the multinational companies is anticipated to boost the sales of plus size clothing and plus size clothing market revenue growth in the forecast period.

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The market share for plus-size clothes is increasing as obesity and overweight problems become more prevalent. Additionally, the desire for plus size apparel that represents the most recent fashion trends rises as plus-size clients’ confidence in their bodies increases.

Strong fashion marketing and promotional efforts, especially on the covers of magazines like Vogue, Cosmopolitan, Elle, and Glamour, have increased plus-size women’s self-confidence and body acceptance, which has improved plus size clothing sales.

The market for plus size apparel has also been boosted by a number of factors, including celebrity endorsements and a positive public impression of persons who are plus sizes.

KEY TAKEAWAYS:

The male category is expected to lead the plus size clothing market in terms of customer orientation.
The casual wear category dominated the plus size clothing market, with a CAGR of 4.8 percent, due to increased acceptance and acceptability of casual wear among consumers for social occasions.
During the forecast period, the mid-priced plus-size clothing segment is expected to dominate the plus size clothing market.
With the greatest obese population and the most money spent on plus size clothing, the United States leads the market.
The Asia-Pacific region is forecast to grow at the highest rate, resulting in rising obesity rates among individuals in the next years.
Europe is expected to develop rapidly in the global plus size clothing industry from 2022 to 2032.

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COMPETITIVE LANDSCAPE:

Key companies profiled in the plus size clothing market report include Forever21 Inc., MANGO, H&M Hennes & Mauritz AB, Hanesbrands Inc., FTF IP COMPANY, INC., Lucky Brand LLC, Under Armour®, Inc., NIKE, INC., ASOS plc, RALPH LAUREN CORPORATION, and WHP Global (Anne Klein).

There is tremendous manufacturer competition in the plus size clothing market. New product introductions, assisted by advertisements and promotional events organised by major manufacturers and designers, are driving the growth of the plus size clothing market.

RECENT DEVELOPMENT:

Partnerships, Product Launches, Collaborations, and Agreements:

Customers were thrilled when LOFT, a business that creates contemporary women’s clothing, announced the addition of a plus-size category to its catalogue in 2018.
PVH bought True & Co., an online start-up, in 2017 to expand their plus-size innerwear product line.
The name “Evans Outsize” has been changed to “Evans.” In 2018, Marks and Spencer replaced the phrase “plus size” with “curve” to appeal to customers.

Key Segments

By Product Type:

Casual Wear
Formal Wear
Sportswear
Others

By Consumer Orientation:

Male
Female

By Size Type:

1 XL
2 XL
3 XL
4 XL
Above 4 XL

By Price Range:

Economy
Mid-Range
Premium

By Region:

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

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Wetsuit Market to Grow at 6.5% CAGR in 2031 | Men Wetsuits are Highly in Demand Among the Consumers

The global wetsuit market is projected to soar at a 6.5% CAGR. and surpass a valuation of US$ 1.78 Bn in 2021.

To fulfil the growing demand, manufacturers are providing high-quality, cosy wetsuits that are tailored for various sports activities. According to the FMI analysis, the wetsuit market is projected to reach a valuation of US$ 1.78 Bn in 2021. Between 2021 and 2031, the market for wetsuits is projected to grow at a CAGR of 6.5 percent.

Wetsuit sales are being fueled by a shift in consumer tastes toward innovative designs that offer the best experience at competitive prices. Growing brand competition motivates participants to understand and prioritise customers’ needs in order to give them better water sports equipment.

Manufacturers are launching wets s comprised of green materials such as natural rubber and water-based adhesive as a substitute for neoprene as a result of tough standards established by regional governments to make eco-friendly items. Furthermore, the introduction of wetsuits produced from recycled plastics and water bottles is projected to gain popularity during the projection period.

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This technique potentially gives more flexibility to the wetsuit and stops continuous flow of water through the material. These developments are expected to continue augmenting growth of the wetsuit market over the forecast period.

“Introduction of safety technologies such as Shark Attack Mitigation System (SAMS) in wetsuits, along with emergence of indoor artificial water waves activities are projected to augment growth of the global wetsuit market through 2031,” says an FMI analyst.

Key Takeaways:

Based on product type, the full sleeves wetsuits segment is expected to hold 70.4% of the total market share in 2021.Surfing as an application of wetsuits is likely to dominate the market with a share of 37.3% in 2021.
Men wetsuits are highly in demand among the consumers. This is likely due to the availability of wetsuits for men in various sizes, designs, and colors. The segment is projected to hold 50.1% of the total wetsuit market share in 2021.In terms of price range, under US$ 100 is projected to hold the highest market share in 2021, at around 51.2%.
Sales of wetsuits through water sporting accessories stores are expected to grow at a 5.4% CAGR through 2031.The U.S. is expected to dominate the North America wetsuit market, holding 83.9% of the market share in 2021.
India will emerge as an attractive wetsuit market, accounting for 27.25 of the South Asisa market share in 2021.China is projected to account for 43.9% of the East Asia wetsuit market share in 2021.
Japan and South Korea will account for 23.5% and 32.6% of the global wetsuit market share over the forecast period.

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Competitive Landscape

Prominent players present in the global wetsuits market are O’Neil Inc., Quicksilver Inc., Billabong International Limited, Aqualung, Gullewa Limited, Shieco Group Co., Ltd., Xcel, Patagonia Capital Ltd., Vissla, Rip Curl, Sisstrevolution, Speedo, BARE Sports, and Decathlon S.A. among others. Top 5 players in the wetsuit market are projected to account for 15-25% of the total market share over the forecast period.

Leading manufacturers of wetsuits are focusing on upon product development and implementing eco-friendly and new material that are more flexible, reliable, and provide better insulation to protect user from catching hyperthermia. For instance:

In 2020, Billabong introduced their new line-up of Eco-Conscious wetsuits that are made with recycler tech- meaning the graphene is infused with 100% P.E.T. recycled fibers.

Wetsuit Market by Category

By Product Type:

Full Sleeves
Short Sleeves

By Application:

Surfing
Underwater Diving
Sailing
River Rafting
Others

By Consumer Orientation:

Men
Women
Unisex

By Price Range:

Under US$ 100
US$ 100- US$ 200
US$ 200 & Above

By Region:

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

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About FMI
Future Market Insights (ESOMAR certified 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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Busbars Market Is Likely To Grow Moderately At 4% CAGR During The Assessment Period

According to Future Market Insights’ most recent report, the global busbars market will grow from US$ 18,278.9 Mn in 2022 to over US$ 23,177.7 Mn by the end of 2028, registering a CAGR of 4.0%.

Expanding busbar installations in commercial buildings like hotels, research facilities, hospitals, and residential structures are anticipated to boost the market’s promising future.

Over one-third of the revenue share is likely to be accounted for by Tier I producers like Schneider Electric SE, Eaton Corporation Plc, Siemens AG, and Methode Electronics.

Busbars Market: Report Description

This FMI study offers a ten-year analysis and forecast for the global Busbars market for the period between 2018 and 2028. This study considers 2017 as the base year with market values estimated for the year 2018 and forecast developed for the duration 2018 to 2028.

Compound Average Growth Rate (CAGR), in terms of both value and volume, has been represented from 2018 to 2028. The Busbars market study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with market segment level projections in a comprehensive manner.

As per the findings of the Busbars market study and perspectives of industry participants, the global market is projected to grow at a CAGR of 9.0% between 2018 and 2028, in terms of value. Launching of new plants and relatively less wiring errors and more capacitance associated with busbars are some of the factors fuelling the growth of this market.

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This Future Market Insights report on Busbars carefully analyses the market at a global and regional level through market segmentation, on the basis of key parameters, such as conductor type, power rating and end user.

The primary objective of this Busbars report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rate and other relevant information and statistics in a suitable manner to the readers or various stakeholders in the Busbars market.

Busbars distribute electricity with more ease and flexibility as compared to other permanent forms of installation and distribution. They are generally made of metallic strips of copper or aluminum that both ground and conduct electricity.

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Each section of the report has been structured to facilitate the readers to develop a thorough understanding of the Busbars market. The report begins with market definitions, which are followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape.

Each section covers qualitative and quantitative assessment of the Busbars market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews with the key stakeholders in the market.

Busbars Market: Segmentation

Conductor Type

Copper

Aluminium

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Power Rating

Low

Medium

High

This Busbars market report begins with market introduction. In the next section, the report describes market development background, macro-economic factors, industry factors, forecast factors, global weighted average pricing analysis, value chain overview and an assessment of the sales of Busbars for the base year considered for the study.

The next section of the report discusses market dynamics, such as drivers (supply and demand side), restraints and trends impacting the Busbars market’s growth at a global level. Market opportunities or potential for Busbars manufacturers have been presented in the subsequent section of the same chapter.

This section also includes the impact assessment of market dynamics on the global Busbars market at a qualitative level, based on analysis facts and insights.

In the following sections of the report, market value (US$ Mn) and volume (in Tons) projections for the Busbars market, on the basis of the aforementioned segments at a global level, have been included.

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The next section of the Busbars report presents a summarized view of the global Busbars market based on eight prominent regions with market numbers represented for key countries considered in the study. The section includes the regional market position, growth potential and market attractiveness analysis for each of these regions.

The market analysis sections cover regional trends and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyze the degree to which the global drivers are influencing this market in each region.

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Diamond core drilling market is anticipated to grow at 6% CAGR during 2021-2031

Future Market Insights (FMI) predicts that the global diamond core drilling market will expand at a healthy 6% CAGR and surpass a market value of US$ 1.8 Billion. Diamond core drilling sales are anticipated to rise as major manufacturers place a strong emphasis on automation and product customization.

The report predicts that the market will grow at a healthy rate of 5.2% year over year (YoY), with shipments expected to reach 42,000 units by 2031.

With increasing demand for customized and automated drilling machines, the market is expected to reach the value of US$ 1.8 Bn in 2021. Growth in the market is attributed to the rising mineral production across developing economies, including India, China, and Japan.

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As per FMI, the market registered an increase of 2% in 2021 registering year-on-year (YoY) growth of 5.2%. Due to the rising rate of fatalities and accidents at constrictions and mining sites, the government is pushing for the adoption of rig-operated drilling machines instead of hand-held.

Alongside this, technological advancements in industrial automation and demand for customized drilling machines, the market is expected to reach a shipment of 42,000 units during the forecast period (2021 -2031).

Key Takeaways from FMI’s Diamond Core Drilling Market Study

In terms of end-use, the construction industry will hold a majority of the share however increasing mineral production rate across the globe will increase the application of diamond core drilling in the mining industry
Due to stringent safety protocol and increasing fatalities in mining industries, adoption of rig-operated drilling machines is increasing, boosting segment growth
Based on drilling technique, stitch drilling is expected to account for lion’s share in the global diamond core drilling market
Germany is expected to be one of the most lucrative markets owing to the presence of leading companies
India is expected to witness lucrative growth opportunities backed by rising application in the mining and construction industry
China will lead the East Asia’s diamond core drilling market owing to the favourable government initiatives to increase the adoption of automated drilling machines

“With surging application of diamond core drilling in construction and mining industries, end-users are focusing on efficiency and precision. To meet the growing requirement for increased productivity, key manufacturers are extensively adopting advanced and cutting-edge technologies for automation and customization. This will widen the growth prospects for manufacturers in the forthcoming years,” says the FMI analyst.

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Competitive Landscape

Dominance of top five players has left the market consolidated, creating an entry barrier for new players in global diamond core-drilling market. Adoption of inorganic growth strategies to gain exposure in the overseas territories is one of the major factor expected to create growth opportunities.

Future Market Insights identifies Hilti Corporation, Epiroc AB, Bogart Long year, Robert Bosch, and Husqvarna AB among the top 5 players in the diamond core drilling market. The contribution of these top 5 players in global market revenue, collectively, is estimated to be around 13.6%.

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Key manufacturers are focusing on technological advancement and product customization which is expected to expand their regional footprints in the industry, spurring sales.

For instance, Barsele Minerals Corporation, on 7^th June 2021, announced the resumption of diamond drilling activities which included drilling for 3,000 meters to test orogenic gold and volcanogenic massive sulphides. The drilling exploration program is operated through a joint venture with Agnico Eagle Mines Limited.

The company also announced the acquisition of Agnico Eagle’s indirect 55% interest in the Barsele Project and upon completion of the drilling project, the company will take over Agnico Eagle Mines Limited, consolidating 100% control.

Also, in June 2021, another manufacturer, Tectonic Metals Inc. announced the company’s exploration plans, anchored by two oriented diamond drilling campaigns, Tibbs Gold Project and Seventymile Gold Project in Alaska. The company is using rotary air blast drilling to carry out the exploration program.

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Get More Insights on Global Diamond Core Drilling Market

The research report analyzes demand for diamond core drilling across the globe. The diamond core drilling market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the market has been analyzed on the basis of operation type, drilling type, drilling technique, end use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

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