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The global boron trifluoride and complexes market is projected to reach a value of US$ 389.4 Mn by 2029, with the market expanding at a moderate CAGR of 5.3% from 2022 to 2029. Valued at US$ 257.2 Mn in 2021, the target market is expected to reach an estimated US$ 270.7 Mn in 2022.

Owing to an escalation in the application of boron trifluoride as a catalyst in the chemical industry, the boron trifluoride and complexes market is expected to expand steadily during the forecast period. Predominantly used as a catalyst in the chemical, agricultural, petrochemical, and pharmaceutical industries, boron trifluoride (BF3) is a compressed, non-flammable gas.

The global market for boron trifluoride & complexes is likely to register impressive growth in the next few years due to its immense application in various end-use industries. The chemicals and petrochemical industries are projected to continue as one of the primary growth drivers of the target market.

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The chemical and pharmaceutical industries are the two other sectors that are massive contributors to the growth of the boron trifluoride and complexes market. In the chemical industry, the vast application of boron trifluoride as a catalyst is likely to boost the overall demand for the product.

In the pharmaceutical industry, BF3 is used in the production of various medicines. Thus, the boron trifluoride and complexes play a vital role in the chemicals and pharmaceutical industry and with the expansion of these two industries, the target market is expected to continue to grow over the forecast period.

“Rising application in the pharmaceutical and transportation industry will likely drive the global sales of the boron trifluoride and complexes market over the forecast period,” says an FMI analyst.  

Key Takeaways:

• Expanding paints & coatings and the construction sector will strengthen future opportunities.
• The boron trifluoride & complexes market in the U.S. will hold about 66% of the market share in North America.
• South Korea accounts for about 18.4% of the global boron trifluoride market.
• Japan will offer several lucrative opportunities to the target market over the assessment period.
• China’s boron trifluoride market will reach an estimated US$ 810.1 Mn in 2029.
• The technical grade segment will generate a growth opportunity of US$ 85.3 Mn from 2022 to 2029.
• By application, the catalyst segment will reach US$ 279.8 Mn by the end of 2029.

Competitive Landscape 

BASF SE, Voltaix LLC ( acquired by Air Liquide), NAVIN FLUORINE INTERNATIONAL LIMITED, Praxair Technology, Inc., Honeywell International Inc., Stella Chemifa Corporation, Matheson Tri-Gas Inc., Arkema, Gulbrandsen, Entegris, Inc., Tanfac Industries Ltd., Qingzhou Chenkai Chemical Co., Ltd., The Linde Group, Hunan Heaven Materials Development Co., Zibo Shuanglian Petroleum & Chemical Co., Ltd., and Wujiang City Fuhua Chemical Co., Ltd., among others are some of the major players in the boron trifluoride and complexes market profiled in the full version of the report.

Key market players are concentrating on entering markets in emerging economies to cater to the growing demand for monopropylene glycol. These businesses are keen on improving their R&D activities, increasing their production capabilities, releasing more products, and adopting mergers and acquisition strategies to gain a competitive advantage.

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Boron Trifluoride & Complexes Market by Category

By Type:

• BF3 (Gas)
• BF3 Tetrahydrofuran Complex
• BF3 Methanol Complex
• BF3 Diethyl Etherate Complex
• BF3 acetonitrile Complex
• Others

By Application:

• Catalyst
• Chemical Intermediate
• Others

By End Use:

• Polymer and Petrochemicals
• Pharmaceuticals
• Electronics
• Agrochemicals
• Others

More Insights into Boron Trifluoride & Complexes Market Report

In its latest report, FMI offers an unbiased analysis of the global boron trifluoride and complexes market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2029.

To understand the global market potential, growth, and scope, the market is segmented on the basis of type (BF3 (gas), BF3 tetrahydrofuran complex, BF3 methanol complex, BF3 diethyl etherate complex, BF3 acetonitrile complex, others), application (catalyst, chemical intermediate, others), end use (polymer and petrochemicals, pharmaceuticals, electronics, agrochemicals, others), and region.

According to the latest FMI reports, based on segmentation, the BF3 gas segment is predicted to perform well during the observation period. The segment will reach an estimated US$ 150.6 Mn in Asia Pacific (excluding Japan) by the end of 2029. While the technical grade segment will grow at a 5.5% CAGR, the catalyst application segment will reach US$ 279.8 Mn by the end of 2029.

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Based on region, North America’s boron trifluoride and complexes market is primarily driven by the growth of the same in the U.S. market. Boron trifluoride and complexes market in the U.S. accounts for 66% share of the market in North America.

Extensive utilization of the product in petroleum and petrochemical industries along with increasing shale gas drilling will fuel the market growth of the boron trifluoride and complexes market in this region. Other countries like China, South Korea, and Japan will also present notable growth of the boron trifluoride and complexes market during the forecast period.

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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The barcode printer market is expected to register a CAGR of 7.4% by the end of the forecast period 2016-2026. Manufacturers are using barcode printing technology to help cut costs, streamline operations, and improve quality control that fuel the growth of the barcode printer market.

After the 2008 economic downturn, the manufacturing sector is reviving. A large number of manufacturing companies around the world are implementing automation and process streamlining to reduce time and material waste, thereby improving efficiency and output. Barcoding is one such technique that is becoming more popular. This process has significantly reduced production time in the manufacturing process, driving demand for barcode printers.

Barcodes have become the de facto standard for storing and labeling product information. Retailers all over the world use barcodes to simplify the recording and sale of supplies and commodities. Barcodes imprinted on labels adhere to products and record information such as product count, date of manufacture, date supplied to the retailer, selling price, and so on.

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The information is retrieved and monitored when these products are scanned. This entire process, which takes only a few seconds, not only increases efficiency but also reduces errors. This has aided retailers in keeping track of their products and inventory on store floors and in warehouses.

However, the threat of RFID tags as barcode label substitutes and the low compatibility of barcode printers with various operating systems act as restraints in the global barcode printer market.

Segmentation highlights

The market is classified into six segments: printer type, printing technology, consumables, application, distribution channel, and region. Desktop Barcode Printer, Industrial Barcode Printer, Mobile Barcode Printer, and Others are the printer types in the barcode printers market.

Based on printing technology, the market has been divided into Thermal Transfer, Direct Thermal, Dot Matrix, Laser, and Ink-Jet. Based on Distribution Channel, the market is segmented as Direct-to-End User, Direct-to-OEM, Dealer/Distributor, and Systems Integrator. Based on application, the market has been divided into industrial/manufacturing, transportation/logistics, retail, healthcare, government, and commercial services.

• The Industrial Barcode Printer segment holds the highest market share of 46.1% closely followed by the Desktop Barcode Printer in the Barcode Printers Market. The Industrial Barcode Printer segment is also expected to dominate in the forecast period with a CAGR of 8.3% due to a preference for sturdy and rugged barcode printers with higher productivity.
• The thermal Transfer segment holds the highest market share amongst all with 62.8% and is expected to improve further in the forecast period owing to very less cost involved, while Dot Matrix, Laser, and Ink Jet printing technologies are the least preferred technologies and are on the verge of being phased out.
• Dealer/Distributor is the most preferred supply channel and is expected to dominate in the future due to higher distribution efficiency, low supply costs, and faster delivery times.

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Regional projections

North America and Western Europe are the most promising regions for the growth of the market owing to a higher preference for barcoding technology in different applications, while the market in the Latin America region is on a slow and stagnant growth due to low adoption of barcoding technology. The growth of the Barcode Printers market in the APEJ region may also grow at a slower pace due to saturation and the slow down of the manufacturing sector in China.

Vendor insights

Major players identified in the Barcode Printers market are Zebra Technologies Corporation, Avery Dennison Corporation, Oki Electric Industry Co., Ltd., Toshiba TEC Corporation, and Honeywell International, Inc. committing a combined market share of over 50%. Other major players are SATO Holdings Corporation, Printronix, Inc., and TSC Auto Id Technology Co., Ltd. supplying to various end-use industries and sectors.

The global fatty amines market is anticipated to reach a value of US$ 4,724.4 Mn by the end of the forecast period, opines Future Market Insights (FMI). The need for different agrochemicals including pesticides and fertilizer is rising owing to the growing food necessity.

While the demand for agrochemicals is rising in developing nations such as India and China, the demand for fatty amines is predicted to surge, especially across Asia Pacific. Hence, to get the maximum yield from the available arable land and to enhance the quality, agrochemicals are being used.

The consumption of fatty amines in agrochemicals is high as it is extensively manufactured by using renewable sources such as vegetable oil, animal fats & so on, which benefit the soil, environment & output.

Key manufacturers are anticipated to witness lucrative growth opportunities as its consumption in end use sectors such as agrochemicals, food & beverage and others is increasing. To fulfil the demand, players are more focused on production capacity expansion, mergers & acquisitions activities that will boost their sales.

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With the implementation of new technology and innovations, prominent players are emerging in developing countries, with the increase in the flow of foreign direct investment, collaborative projects, and monetary benefits.

“Growing demand for agrochemicals & water treatment chemicals are expected to propel the sales of fatty amines in the forecast period,” says an FMI analyst.

Key Takeaways:

• The global market of fatty amines is projected to witness a CAGR of 9% during the period of 2022 and 2032.
• China is anticipated to remain one of the prominent markets in the global market of fatty amines, with sales expected to reach about US$ 986.1 Mn by end of 2032.
• By product type, tertiary fatty amines segment is expected to remain one of the fastest-growing segment and expand at a CAGR of 5.7% during the forecast period.
• By end use type, agrochemicals, and water treatment chemicals are anticipated to account for more than 43% of demand share in global fatty amines market by 2032.

Competitive Landscape

Key market players are involved in the fatty amines market which include Clariant AG, Albemarle Corporation, Akzo Nobel N.V., Evonik Industries AG, Kao Corporation, Arkema S.A., Eastman Chemical Company, Solvay S.A., E.I. du Pont de Nemours & Co., Procter & Gamble Company, Lonza Group Ltd, Indo Amines LTD, Sterling Auxiliaries Pvt. Ltd., Nouryon, Wuxi Zhufeng Fine Chemical Co., Ltd., NOF COORPORATION and Other.

For instance

• On June 27, 2022, Evonik Industries made a technical collaboration with Ag Tech, an agribusiness innovation hub in Brazil, to enhance its regional agribusiness network.
• On Feb 28, 2022, Kao Corporation decided to establish a new tertiary amines plant in Texas, the USA to strengthen its chemical business.

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Fatty Amines Market Segmentation

By Product Type:

• Primary Amines
• Secondary Amines
• Tertiary Amines

By End-Use:

• Agrochemicals
• Water Treatment
• Construction
• Oil field Chemicals
• Personal Care
• Textile Industry
• Others

More Insights into the Fatty Amines Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the global fatty amines market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032.

To understand the global market potential, growth, and scope, the market is segmented based on product type (primary, secondary & tertiary), end-use (agrochemicals, water treatment, personal care, construction, oil field chemicals, textile industry & others), and region.

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Frequently Asked Questions

• What is the current size of the Global Fatty Amines Market?
• What is the demand outlook for fatty amines in various end use industries?
• Who are the key players in the global market of Fatty Amines?
• What is the estimated market share of the key players in the Global Fatty Amines market?
• Which are the key countries driving the Global Fatty Amines market demand?

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 favour 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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The global carboxymethyl cellulose market is currently expected to be around US$ 1835.10 million in 2022 and is expected to progress at a constant CAGR of 4.8% between 2022 and 2032 to reach a valuation of USD to be reached 2,932.7 million by 2032.

Increasing demand for carboxymethyl cellulose from the food, paint, coating, paper and pulp, construction and textile industries is a factor , driving the growth of the market. A detailed market segmentation is carried out that explores every angle of the carboxymethyl cellulose (CMC) market.

Several factors have contributed to the growth of the global carboxymethyl cellulose market. Increase in the upstream exploration for unconventional sources of energy, growth in end use industries to fuel demand, new product development, economic growth, high industrial growth and merger activities in the petrochemical sector.

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Rising adoption of carboxymethyl cellulose in different applications, rising demand for carboxymethyl cellulose in the personal care and food and beverages industry, increasing focus towards reduction in production costs, technologically advanced manufacturing infrastructure.

Superior properties of carboxymethyl cellulose based products, growing pharmaceutical and personal care industries and growth in oil drilling operations are expected to drive the growth of the global carboxymethyl cellulose market during the assessment period.

However, high prices of cosmetic products, slump in the oil and gas industry, increasing competition among local manufacturers, and stringent environmental regulations are expected to hamper market revenue growth during the forecast period.

Global Market for Carboxymethyl Cellulose (CMC): Segmental Snapshot

The global carboxymethyl cellulose market is segmented on the basis of grade type, application and region.

• By grade type, high purity segment is estimated to be the largest with a high market share. This is a highly potential segment from both revenue and growth perspectives. It is projected to grow at a CAGR of 5.5% during the forecast period.
• By application, food and beverages segment followed by detergent segment are expected to highly contribute to the growth of the global market. The food and beverages segment is projected to grow at the fastest pace in the coming years.
• By region, the carboxymethyl cellulose market in Asia Pacific excluding Japan (APEJ) is estimated to grow at a high CAGR to reach a significant valuation during the assessment period.

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Global Market for Carboxymethyl Cellulose (CMC): Competitive Landscape

The research report on the carboxymethyl cellulose market includes competition analysis. Several aspects such as SWOT analysis, product portfolio analysis, mergers and acquisitions, growth strategies, key developments, key personnel, company overview, key financials and expansion plans of the top companies are covered in this chapter.

Major companies such as CP Kelco, The Dow Chemical Company, Ashland Global Holding Inc., Anqiu Eagle Cellulose Co., Ltd., Wealthy Chemical Industry (Suzhou) Co., Ltd., Shanghai Shenguang Edible Chemicals Co., Ltd., Akzo Nobel N.V., Nippon Paper Industries Co., Ltd., Lamberti S.p.A, Xuzhou Liyuan cellulose Technology Co. Ltd., Daicel Finechem Ltd., Química Amtex, S.A. de C.V., DKS Co. Ltd., Ugur Seluloz Kimya AS, Mikro Technik GmbH and Patel Industries are featured in this research report.

A detailed market segmentation

By Application:

• Food and Beverage
• Detergent
• Paper and Pulp
• Oil Field Drilling Fluid
• Cosmetic and Pharmaceutical
• Paint and Coating
• Others (Construction, Mining, Textile etc.)

By Grade:

• High Purity Grade (99.5% +)
• Technical Grade (90%-99.5%)
• Industrial Grade (50%-90%)

Global Market for Carboxymethyl Cellulose (CMC): Forecast Highlights

The research report on the carboxymethyl cellulose market reflects future market projections describing the growth direction of the market. The global carboxymethyl cellulose market is projected to grow at a high CAGR of 4.8% throughout the period of assessment and is estimated to reach a valuation of more than US$ 2.9 Bn by the end of the year of assessment from a value of around US$ 1,835.10 Mn in 2022.

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Food and beverage segment to cement its dominance over the period of forecast

The food and beverage segment in the application category is anticipated to grow at a faster rate to reach a high market valuation of more than US$ 900 Mn by the end of the assessment year (2022) from a value of around US$ 480 Mn in 2022.

This segment is projected to grow at a stellar 6.1% value CAGR during the period of forecast. With respect to volume, the food and beverage segment is the leading segment with high number of units produced every year.

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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The global power tools market is predicted to reach a value of US$ 51.2 Bn in 2032, with sales growing at a moderate CAGR of 5.1% from 2022 to 2032. Driven by the surging demand for electric power tools and portable power tools, the target market will reach an estimated US$ 33.36 Bn in 2022. Increasing application in aerospace, automotive, construction, and other industry verticals further fuels the growth of the power tools market during the forecast period.

Owing to the rising application of power tools in various industries such as aerospace, automotive, furniture, and others will drive the target market growth. Again, more and more manufacturers are increasingly presenting intelligent solutions for corded and non-corded power tools, and features like electric motors, and power tools applications are reducing the need for manual labor. These factors bode well for the target market.

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Again, benefits associated with power tools like portability and easy maneuverability will contribute to the rising demand for power tools. The growing demand from manufacturing assembly units, the fabrication industry, and service sectors will further amplify the demand for power tools.

Moreover, key power tool manufacturers are keen on creating technologically advanced products with greater efficiency and enhanced performance, particularly for the cordless power tools market. This is estimated to present the power tools market with lucrative growth opportunities through 2032.

“Rising applications in various industries like construction, automotive, and furniture will propel the global growth of the power tools market over the forecast period,” says an FMI analyst.  

Key Takeaways:

• In 2022, the offline sales segment will account for 64.3% of the market share.
• By product type, the drilling tools segment will hold 17% of the overall market share.
• The construction application segment will acquire about 30% of the market share during the forecast period.
• The electric technology segment will register high demand due to higher investment in advanced technology.
• Favorable government support for infrastructure development will fuel the target market growth in the U.K.
• Expanding construction sector will drive the power tools market in Germany.

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Competitive Landscape 

Robert Bosch Power Tools GmbH, Stanley Black & Decker, Inc., Makita Corporation, Hilti Corporation, Atlas Copco AB, Techtronic Industries Company Limited, Snap-on Incorporated, Actuant Corporation, Husqvarna AB, Illinois Tool Works, Panasonic Corporation, Hitachi Corporation, Ingersoll Rand, Inc., Enerpac Tool Group, Kyocera Corporation, Apex Tool Group, Ridgid Tools, and Koki Holdings Co., Ltd., among others are some of the major players in the power tools market profiled in the full version of the report.

Leading market players are focusing on upgrading their product offerings and releasing new products to cater to consumer demands. These firms are using strategies like partnerships, acquisitions, and collaborations to strengthen their market prospects.

More Insights into Power Tools Market Report

In its latest report, FMI offers an unbiased analysis of the global power tools market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis –

Key Segments Covered in the Power Tools Industry Analysis

By Product Type:

• Drilling Tool
• Fastening Tool
• Heat Gun
• Angle Grinder
• Chain Saw
• Orbital Sander
• Jigsaw
• Impact Wrench
• Circular Saw

By Technology:

• Electric
  • Corded
  • Cordless
• Pneumatic

By Application:

• Manufacturing
  • Metal Fabrication
  • Automotive
  • Railways
  • Aerospace
  • Furniture
  • Others
• MRO Services
  • Facility Management
  • Automotive
  • Aerospace
  • Other Industrial
• DIY
• Construction

By Sales Channel:

• Online
• Offline

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About Us

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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The global size of the Chitin Market is estimated at around US$ 1,604.0 Million in 2022 and is expected to US$ 5,026.4 million by 2032. The global chitin market is expected to grow at a sizeable CAGR of 12.1% during the forecast period, between 2022 and 2032 will be recorded.

Increasing chitin consumption in various end-use industries such as food & beverage, agrochemicals and healthcare is expected to boost sales during the forecast period. In the food and beverage industry, chitin is often used as a thickening agent in cooking, which would boost growth.

The report reveals analysis on end use industries using chitin for various applications. It lays emphasis on opportunities for growth in the chitin market along with key factors pushing the growth of the global market.

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Chitin market is categorized on the basis of derivative type, by its application in various end use industries and by region. The various facets of the global market across important geographies are monitored. The impact of factors change from region to region thus changing the course of the chitin market in that particular region.

This gives a brief idea about the market potential for chitin in various regions that key stakeholders can use to plan future expansion. The comprehensive research study portrays a realistic picture of the global chitin market by including a weighted market segmentation along with forecast projections for a period of 10 years from 2017 till 2027.

Global Chitin Market: Competitive Scenario

The research report on the global chitin market covers analysis on various key players operating in the market. The list includes major companies such as Wellable, SHANDONG LAIZHOU HIGHLY BIO-PRODUCTS CO.Ltd., Yaizu Suisankagaku Industry Co., Ltd., Zhejiang Aoxing Biotechnology Co., Ltd., Bayir Extracts Pvt. Ltd., Golden-Shell Pharmaceutical Co. Ltd., Bio21, Panvo Organics Pvt Ltd., Tidal Vision, Primex ehf, Meron Biopolymers, Heppe Medical Chitosan GmbH, CarboMer, Inc., DALIAN XINDIE CHITIN CO.,Ltd., Kunpoong Bio Co. Ltd., Advanced Biopolymers AS and Mahtani Chitosan Pvt. Ltd.

Global Chitin Market: Growth Influencing Aspects

Increasing use in the agrochemical industry, rising shrimp waste generation, increasing awareness regarding the benefits of chitin based products in several end use industries, growing use of chitin in various applications in the healthcare industry, increasing production and consumption of chitosan and glucosamine (derivatives of chitin), and a growing use of chitosan in the beverage industry are few of the drivers that are fuelling the growth of the chitin market across the globe.

However, the market is not devoid of challenges. Hindrances such as non-conformance to halal food standards, increase in pricing, low effectiveness of chitin based medicines as compared to non-chitin based medicines, high overhead costs associated with the production of chitin and adulteration are certain factors restricting the growth of the global chitin market.

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Global Chitin Market: Segmental Outlook

The global chitin market is segmented by end use industry, by derivative type and by region.

• By region, Asia Pacific excluding Japan (APEJ) is the largest. The chitin market in the APEJ region is estimated to reach a high value of a little over US$ 1 Bn by 2027 end. This region is highly lucrative for the growth of the chitin market. Chitin market in APEJ is projected to grow at a high value CAGR of 13.9% during the forecast period.
• By derivative type, the glucosamine segment reflects high value and is expected to reach US$ 1,840 Mn by 2027 end. The chitosan segment is expected to grow at a higher CAGR during the said period.
• By end use industry, the healthcare segment is the largest in terms of both value and volume. This segment is projected to grow at the highest rate in the coming years to register a CAGR of 14.2% in terms of value.

Market Segmentation

The research report on global chitin market covers weighted market segmentation that covers every angle of the market.

By Derivative Type:

• Glucosamine
• Chitosan
• Others

By End Use Industry:

• Food and Beverages
• Agrochemical
• Healthcare
• Cosmetics and Toiletries
• Waste and Water Treatment
• Others

Global Chitin Market: Future Market Projections

The global chitin market is expected to reach a valuation of just under US$ 5,026.4 Mn by the end of the assessment year in 2032 from a valuation of around US$ 1,604.0 Mn in 2022, with an exponential value CAGR of 12.1% throughout the period of forecast (2022 – 2032).

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Frequently Asked Questions

• What was the size of the global chitin market in 2021?
• What is the consumption outlook for the global chitin market?
• Which is the dominant end-use industry in the global chitin market?
• Who are the top players in the global chitin market?
• How is the China chitin market expected to grow in the evaluation period?

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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In recent years, the variable frequency drives (VFD) market has seen significant growth, owing to increased opportunities for infrastructure development in emerging regions, which has boosted demand for heating and ventilation systems. VFD development is currently shifting toward offering industry-specific solutions with the goal of lowering costs and reducing operational downtime, prompting a slew of manufacturer innovations.

Variable frequency drives, particularly in critical environments and the industrial internet of things, are becoming more common in Industry 4.0. (IIot). As factories embrace automation, variable speed drives with embedded logic as onboard programmable logic controllers are becoming more common.

One of the IIoT advantages of using VFDs is improved remote access. Technicians can remotely monitor project and equipment conditions, and workers receive alerts faster, allowing them to correct anomalies on time. It is also possible to perform predictive maintenance and real-time monitoring.

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The global automotive industry has made prolific advances in the recent past. Emerging as a multibillion-dollar industry, the autonomous market is characterized by the emergence of a plethora of start-up investments. Consequently, the adoption of high-end HVAC systems and pumps has registered an impressive uptick. According to FMI’s projections, the aforementioned segments collectively accounted for nearly US$ 10 Bn as of 2019.

Prolific growth opportunities exist in the Chinese market, owing to an ever mushrooming automotive industry. Future Market Insights estimates the economic giant to produce 4.5 million variable frequency drives by 2021-end, as production cycles revert to normalcy in the aftermath of the coronavirus crisis. Hence, manufacturers are introducing a slew of technological innovations to tap this ever-expanding opportunity, thus generating powerful revenue ecosystems across the forecast period.

As a result of these advancements, leading manufacturers are increasing R&D to produce smart VFDs. For example, Applied Machine & Motion Control (AMMC) sells the Yaskawa Microdrive collections J1000 and V1000. Such developments are expected.

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Key Takeaways of Variable Frequency Drives Market Study:

AC drives adoption surging in popularity by drive type; set to acquire 260 BPS by 2031-end U.S. and Germany to emerge as highly lucrative markets, owing to growing EV sales Growing concerns over excessive power consumption compelling automotive manufacturers to invest in low-voltage VFDs Regenerative applications to find growing applications, reaching nearly US$ 15 Bn by 2021-end Pumps and HVAC systems to collectively expand at a value CAGR worth 13% from 2021-2031

 “Rapidly expanding infrastructure for capital projects are attracting frequent capital investments, attributed to the increasing scale of urbanization. Hence, automotive sales are rising, leading to widening revenue pools for VFD manufacturers,” says the FMI analyst.

Competitive Landscape

The variable frequency drives market is a highly competitive market, with a sizeable presence of both global as well as domestic players. However, key players account for nearly half of the market share. It is characterized by large supplier base and strong B2B networks.

The market has robust partnerships throughout the value chain. Suppliers of variable frequency drives adopt acquisition and regional expansion strategies to establish a foothold. Brand consciousness and aggressive marketing make it challenging for new entrants in the variable frequency drives market.

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Variable frequency drives Market : Segmentation

Drive Type

• AC Drive
• DC Drive

Voltage Range

• Low Voltage
• High Voltage

Application Type

• Standard
• Regenerative

End-use Application

• Pumps
• Fan
• Compressor
• Conveyor
• HVAC
• Others

End-use Industry

• Oil & Gas
• Food processing
• Automotive
• Mining & Metals
• Pulp & Paper
• Others

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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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The global automotive refinish coatings market is expected to grow at 5.4% CAGR over the assessment period of 2021-2031. Rising automobile sales across the globe is expected to fuel the demand for automotive refinish coatings over the forecast period.

Rise in per capita income of vehicle owners and increasing purchase of luxury cars among middle-income customers will present attractive scope for the growth of the market. Growing sales of luxury cars have resulted in high demand for solutions for the maintenance of their appearance and performance.

This will drive the sales of automotive refinish coatings in the coming years. On the flip side, stringent restrictions imposed on the use and production of certain coatings owing to their high VOC content might hamper the growth of the overall market over the forecast period.

The COVID-19 pandemic also had hampered sales within the automotive refinish coatings industry.  The automotive refinish coatings market will however recover as vehicle production picks up pace in emerging countries post withdrawal of stringent pandemic restrictions.

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Key Takeaways:

• Global automotive refinish coatings market is expected to reach a value of US$ 10.7 Bn by the end of 2031.
• Water based coatings segment is expected to gain more traction compared to solvent based coatings as vehicle owners show higher preference for sustainable solutions.
• Asia Pacific excluding japan is expected to dominate the global automotive refinish coatings market.
• Demand for automotive refinish coatings will total US$ 1.05 Bn in the U.S. in 2021.
• Germany will account for dominant 38% share in the Western Europe market for automotive refinish coatings.

“Increasing vehicle fleet on road coupled with growing willingness among vehicle owners to spend on aftermarket services are propelling the demand for automotive refinish coatings. To capitalize on existing opportunities, market players are expected to focus on strategic collaborations and product launches,” says a FMI analyst.

Competitive Landscape         

Key market participants are focusing on mergers and acquisitions strategies, coupled with on product development by investing in research and development to boost their market presence. They are also increasing their production capacity to enhance their annual turnover.

For instance:

• In 2021, Axalta coatings systems announced the successful completion of acquisition of U-POL Holdings Limited. U-POL Holdings Limited is a leading supplier of Paint, Protective coatings, accessories primarily for the automotive aftermarket.
• In 2021, Axalta Coatings launched its brand new range of coatings specially designed for electric vehicles. The coatings have various advantages such as enhanced performance, durability, safety and various others.
• In 2021, Sherwin Williams announced its strategy to acquire industrial coatings business of Sika.

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Some of the leading players profiled in the report are: –

Axalta Coating Systems, LLC, 3M Company, AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Dow Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., Covestro AG, KAPCI Coatings, NOVOL Sp. Z o.o., KCC Corporation, Bernardo Ecenarro S.A, SEM Products, Inc., Sheboygan Paint Company, Cresta Paint Industries Ltd., Alps Coating Sdn. Bhd., NOROO Paint & Coatings Co., Ltd., DSM Coating Resins B.V., WEG SA, The Lubrizol Corporation, Guangzhou Zhenroumei Chemical Coating Limited, HMG Paints Ltd., James Briggs Limited, Reichhold LLC, TOA Performance Coating Corporation CO., Ltd., Yashm Paint & Resin Industries, Allnex Group, Samhwa Paints Industrial Co. Ltd., U.S. Paint Corporation, BASF SE and various others.

Automotive Refinish Coatings Market by Category

By Material Type:

• Polyurethanes
• Acrylics
• Alkyd

By Product Type:

• Primer
• Base Coat
• Top Coat
• Clear Coat

By Technology:

• Solvent Borne
• Water Borne
• UV Cure

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

By End Use:

• OEM
• Aftermarket

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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The telecom tower power system market is expected to register year-on-year growth at 5.8% in 2021, with the overall valuation forecast to reach US$ 3.5 Bn. As per a Future Market Insights (FMI) analysis, sales of telecom tower power systems is expected to increase at 6.7% CAGR between 2021 and 2031.

According to Future Market Insights, increased demand for telecom tower power systems has resulted from the expansion of telecom infrastructure facilities to cover rural and other remote areas. Rapid technological advancements in manufacturing are also expected to supplement market growth in the near future.

Despite the COVID-19 pandemic’s recessionary effect in 2020, the telecommunications industry has remained unaffected in terms of essential service sector. With the ongoing demand for high energy efficient solutions, the growth of telecom tower power systems is expected to continue on an upward trend for the foreseeable future.

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Demand for telecom tower power systems is increasing with the rise in the volume of telecom tower networks in recent years. This can be attributed to an increase in investments and expansion of new telecom infrastructure projects in developing nations.

The growing demand for mass production has increased the importance of process automation. The market is shifting toward Industry 4.0 standards, resulting in the promotion and widespread adoption of new manufacturing technologies.

The growing number of players focusing on telecom tower power system research and development is expected to contribute to market growth in the coming years.

Key Takeaways from Telecom Tower Power System Market Study

• Outdoor telecom tower power systems are projected to hold over 54% of the global market share in 2021, supported by the availability of superior configurations.
• The diesel generator + battery segment is set to hold over 41% of the market share as a power source by 2031-end, supported by investments into renewable energy systems.
• The U.S. will remain a primary market, backed by rising demand from the energy sector. It is expected to account for over 86% of the demand registered in North America in 2021.
• The markets in India and China are set to surge at CAGR of approximately 8% and 7% over the coming decade.
• Russia is emerging as a key market in Europe, with a valuation of over US$ 154.5 Mn in 2021, driven by presence of massive telecom infrastructure network.

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About Us

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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
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The lead acid battery market valuation is expected to reach US$ 54.3 Bn in 2021. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall lead acid battery market valuation will top US$ 90.5 Bn by 2031.

As per FMI, the demand for AGM battery is expected to increase at a high pace, exhibiting 6.2% CAGR in 2021.

The global sales of lead acid battery are set to be valued at over US$ 54.3 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). The report has forecast the market to expand at over 5.2% CAGR between 2021 and 2031.

Key Takeaways from Lead Acid Battery Market Study

• Flooded battery is projected to hold over 49% of the global market share in 2021 in terms of product type, supported by superior configurations.
• Transportation is projected to hold over 56% of the overall market share as leading segment in terms of application by 2031-end, supported by increasing investments in electric vehicles production.
• China will remain a chief market, backed by rising demand from the automotive industry. It is expected to account for over 57.3% of demand registered in East Asia in 2021.
• The markets India is set to surge at around 6% CAGR over the next ten years.
• Germany is emerging as a key market in Europe, accounting for over US$ 2,509.4 Mn in 2021, driven by expansion of the automotive industry.

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About Us

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.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com