Market Research Blog – Page 950 – New Product Development

Global Outdoor LED Lighting Market Anticipated to Reach at USD 27 billion Valuation by 2034, With 6.8% CAGR

The outdoor LED lighting market is anticipated to reach a valuation of USD 14 billion in 2024. The industry is projected to be worth USD 27 billion by 2034, expanding at a CAGR of 6.8% between 2024 and 2034. These fixtures utilize LED technology, which is renowned for its energy efficiency, longevity, and durability. LED lighting has emerged as a preferred choice for outdoor illumination due to its numerous advantages over traditional lighting technologies.

Outdoor LED lighting finds extensive usage across diverse settings, including streets, highways, parking lots, landscapes, and architectural lighting. The versatility of LED fixtures allows for effective illumination in various outdoor environments, contributing to enhanced visibility, safety, and aesthetics.

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Government initiatives play a crucial role in promoting the adoption of LED lighting. Many governments worldwide offer incentives, rebates, and regulatory mandates to encourage the transition to energy-efficient lighting solutions. These initiatives contribute to market growth by creating a favorable environment for LED adoption and supporting related infrastructure development.

The growing trend toward smart city infrastructure fuels the demand for advanced outdoor lighting systems. LED fixtures can be integrated with smart controls, sensors, and communication networks to enable remote monitoring, adaptive lighting, and energy management. This convergence of LED technology with smart city initiatives drives innovation in the outdoor lighting market and opens up new opportunities for market players.

Advancements in LED technology, such as improved brightness, color rendering, and efficiency, continue to drive market expansion. Market players focus on product innovation to meet evolving customer demands, offering fixtures with features like motion sensors, dimming capabilities, and wireless connectivity.

Key Takeaways from the Market Study

Based on application, the sheets and roads are projected to expand at 6.4% CAGR by 2034.
China is estimated to register at a CAGR of 7.4% by 2034.
South Korea experiences significant growth, projected at a CAGR of 9.3% by 2034.
Based on offering, hardware is anticipated to expand at a CAGR of 6.5% by 2034.

Competitive Landscape

Numerous players compete for market share in the outdoor LED lighting market. Established lighting manufacturers, specialized LED solution providers, and emerging startups vie for dominance.

Competition revolves around technological innovation, product quality, pricing strategies, distribution networks, and customer service. Success in this market hinges on effectively meeting customer needs and staying ahead of competitors through innovation and strategic partnerships.

In April 2023, Crescent Lighting expanded its product line to encompass various lighting solutions catering to commercial, outdoor, residential, industrial, architectural, and indoor spaces. Their offerings, boasting up to 50,000 hours of longevity certified by LM80, prioritize durability and eco-friendliness.
In June 2022, Hella GMBH introduced new energy-efficient work lamps and floodlights under the S-Series. These lighting solutions enhance workplace safety by providing optimal illumination for work areas. With low power consumption compared to traditional sources, they contribute to reduced CO2 emissions. Top of Form

Leading Outdoor LED Lighting Manufactures:

Signify Holding
Acuity Brands Lighting Inc.
Cree Lighting
Dialight
Panasonic Corporation

Key Segments of Outdoor LED Lighting Industry Survey

By Offering:

Hardware
- Lamps
- Luminaires
- Control Systems
Software
Services
- Pre-installation
- Post-installation

By Application:

Streets and Roads
Architecture and Urban Landscape
Sports and Large Area
Tunnels
Others

By Installation:

New
Retrofit

By Sales Channel:

Retail/Wholesale
Direct Sales
E-commerce

By Wattage Type:

Below 50W
50-150W
Above 150W

By Communication:

Wired
Wireless

By Interfacing Standard:

NEMA
ZHAGA

By Region:

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

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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T: +1-845-579-5705
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Global Dedicated Outdoor Air System (DOAS) Market Analysis: Industry worth USD 11.4 billion by 2034, With a 9% CAGR

The Dedicated Outdoor Air System (DOAS) Market is anticipated to reach a valuation of USD 4.8 billion in 2024. The industry is projected to be worth USD 11.4 billion by 2034, expanding at a CAGR of 9% between 2024 and 2034. DOAS typically consists of air handling units, ventilation fans, heating and cooling coils, and filtration systems.

In today’s world, indoor air quality (IAQ) is a top priority. This is where Dedicated Outdoor Air System (DOAS) technology steps in, offering a breath of fresh air for buildings of all types. DOAS systems pre-condition outdoor air, providing a clean, comfortable, and energy-efficient solution for ventilation needs. As concerns about indoor air quality rise, the DOAS market is experiencing significant growth, presenting exciting opportunities for a healthier and more sustainable future.

Applications of DOAS Systems

DOAS systems offer a versatile solution for various applications:

Commercial Buildings: From offices and schools to hospitals and retail spaces, DOAS systems deliver fresh, filtered air, improving occupant health, comfort, and productivity.
Residential Buildings: In multi-unit dwellings or high-performance homes, DOAS ensures proper ventilation and minimizes the risk of indoor air pollutants like allergens and mold.
Healthcare Facilities: DOAS systems are crucial in hospitals and clinics, providing clean air for patient recovery and minimizing the spread of airborne pathogens.
Educational Institutions: Proper ventilation is essential in schools for student well-being and cognitive function. DOAS systems deliver fresh air, fostering a healthy learning environment.

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A Market on the Rise: Growth Factors and Opportunities

The DOAS market is experiencing a surge in popularity driven by several key trends:

Growing Focus on Indoor Air Quality: Public awareness about the negative health impacts of poor IAQ is rising, leading to increased demand for effective ventilation solutions.
Energy Efficiency: DOAS systems pre-condition air using outdoor temperatures, reducing the energy required for heating or cooling compared to traditional HVAC systems. This aligns with growing sustainability concerns.
Stricter Building Regulations: Many regions are implementing stricter building codes mandating minimum ventilation standards. DOAS systems offer a reliable way to meet these requirements.
Improved Building Tightness: Modern buildings with improved insulation can trap pollutants indoors. DOAS systems ensure a constant supply of fresh air, mitigating this issue.
Technological Advancements: Manufacturers are constantly innovating, developing DOAS systems with features like heat recovery ventilators (HRVs) for further energy savings and improved humidity control.

Challenges and Considerations

While DOAS offers numerous benefits, some challenges need to be addressed:

Initial Investment: DOAS systems can have a higher upfront cost compared to traditional HVAC systems. However, the long-term benefits in terms of energy savings and improved IAQ often outweigh the initial investment.
System Design and Installation: Proper design and installation are crucial for optimal performance. Hiring experienced professionals is essential to ensure the DOAS system meets the specific needs of a building.
Maintenance Requirements: Regular maintenance is necessary to ensure efficient operation and filter effectiveness. Building owners need to factor in ongoing maintenance costs.

Key Players

Johnson Controls International PLC
Carrier Global Corporation
Daikin Industries Ltd.
Trane Technologies PLC
LG Electronics, Inc. (LG Corporation)
Samsung Electronics Ltd. (Samsung Group)
Greenheck Fan Corporation

Key Segments of Dedicated Outdoor Air System (DOAS) Industry Survey

By Capacity:

20-40 Tons
Less Than 20 Tons
40-60 Tons
Greater Than 60 Tons

By Requirement:

Heating
Ventilation
Cooling
Dehumidification

By Implementation Type:

New Construction
Retrofit

By Vertical:

Commercial
Residential
Industrial

By Region:

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

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Global Medium Voltage Cable and Accessory Market Set to Surge: Projected Growth to USD 90,953.8 million by 2034

The global medium voltage cable and accessory market is poised for significant growth, with projections estimating a value of USD 52,266.9 million in 2024 and a remarkable surge to USD 90,953.8 million by 2034, reflecting a robust compound annual growth rate (CAGR) of 5.7% during the forecast period.

Understanding the Medium Voltage Cable and Accessory

Medium voltage cables and accessories are crucial components in electrical distribution systems, typically defined as cables that operate within a voltage range of 1 kV to 35 kV. These cables facilitate the efficient transmission of electricity from substations to end-users, including commercial and residential buildings, industrial facilities, and transportation networks. Accessories, such as joints, terminations, and connectors, ensure the reliability and safety of the cable systems, making them indispensable for modern electrical infrastructure.

As energy demands increase globally, the role of medium voltage cables and accessories becomes increasingly vital. They are designed to withstand harsh environmental conditions and are manufactured using high-quality materials to ensure longevity and performance. This sector’s continued evolution is essential for meeting the growing electricity consumption driven by urbanization and industrialization.

Medium Voltage Cable and Accessory Value and Growth Projections

The medium voltage cable and accessory market is projected to experience substantial growth over the next decade. By 2024, the market is expected to reach USD 52,266.9 million, driven by increased infrastructure investments and the need for enhanced power distribution networks. As countries worldwide focus on modernizing their electrical grids, the demand for reliable medium voltage solutions is anticipated to grow significantly.

Looking ahead, the market is projected to attain a staggering USD 90,953.8 million by 2034. This growth is estimated to result in an expansion of 1.7x in terms of sales during the forecast period, highlighting the increasing importance of medium voltage cables and accessories in global energy distribution systems.

Prominent Drivers of the Medium Voltage Cable and Accessory

Several factors are contributing to the growth of the medium voltage cable and accessory market:

Infrastructure Development: The ongoing construction of commercial and residential buildings, alongside the expansion of transportation networks, is driving the demand for medium voltage cables. Governments and private sectors are investing heavily in infrastructure projects, necessitating a robust electrical framework to support these developments.
Urbanization and Population Growth: Rapid urbanization and population growth are leading to higher electricity consumption, which in turn fuels the demand for efficient and reliable power distribution systems. As cities expand, the need for modern electrical infrastructure becomes more pronounced.
Renewable Energy Integration: The transition to renewable energy sources, such as solar and wind, requires advanced electrical systems to connect these energy sources to the grid. Medium voltage cables play a crucial role in this integration, facilitating the distribution of renewable energy to end-users.
Investment in Smart Grids: The increasing focus on smart grid technologies is propelling the demand for medium voltage cables and accessories. Smart grids enhance the efficiency and reliability of power distribution, requiring advanced cable systems to support their operation.

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Leading Medium Voltage Cable and Accessory Brands

Marmon Industrial Energy & Infrastructure
Prysmian Group
Nexans
NKT A/S
ABB
Brugg Cables
Riyadh Cables Group Company
ZTT
Sumitomo Electric Industries, Ltd
EL Sewedy Electric Company
FURUKAWA ELECTRIC CO., LTD.
Tratos
Universal Cables Ltd.
Synergy Cables
Southwire Company, LLC
LS Cable & System Ltd.
KEI Industries Limited
Hellenic Cables
Gaon Cable Co. Ltd.
The Okonite Company

Challenges Faced by the Medium Voltage Cable and Accessory

While the medium voltage cable and accessory market is set for significant growth, it also faces several challenges:

Raw Material Price Fluctuations: The prices of essential raw materials, such as copper and aluminum, can be volatile, affecting production costs and profit margins for manufacturers.
Technological Advancements: Rapid technological changes can lead to increased competition and the need for continuous innovation. Companies must invest in research and development to stay ahead in a dynamic market.
Regulatory Compliance: The medium voltage cable industry is subject to various regulatory standards and safety requirements. Compliance with these regulations can be challenging, especially for manufacturers operating in multiple regions.
Supply Chain Disruptions: Global supply chain disruptions, particularly in light of recent events, can impact the availability of materials and components necessary for cable production, potentially delaying project timelines.

Key Segments of Market Report

By Product Type:

In terms of product type, the industry is segregated into cables (1 kV to 5Kv, 6 kV to 15 kV, and 16 kV to 35 kV), cable joints, cable terminations, cable glands, cable lugs, cable cleats, cable markers, and others.

By Insulation Material:

By insulation material, the industry is divided into XLPE, HEPR, EPR, PILC, and others.

By Installation:

By installation, the industry is segmented into underground, overhead, and submarine.

By End-use Industry:

By end-use industry, the industry is segmented into residential, commercial, and industrial. The industrial segment is further classified into energy and power, building and construction, oil and gas, data centers, marine, chemical and petrochemical, and others.

By Region:

North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa are the main regions covered in the report.

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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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Christiana Corporate, 200 Continental Drive,
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T: +1-347-918-3531
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Flame Retardant Market Set to Reach USD 13.6 Billion by 2034, Driven by Growing Demand in Construction and Electronics

The flame retardant market is estimated to reach a valuation of USD 7.9 billion in 2024. The demand for flame retardant is anticipated to expand at a CAGR of 5.6% through 2034. The industry is projected to surpass USD 13.6 billion by 2034.

The flame retardant industry is propelled by stringent safety regulations across various sectors, including construction, automotive, and electronics, driving the demand for fire-resistant materials. Increasing awareness about the importance of fire safety in both residential and commercial buildings further boosts the adoption of flame retardants.

The rising incidences of fire accidents globally have heightened the emphasis on fire safety measures, spurring the demand for flame retardant materials to mitigate fire hazards. Additionally, technological advancements in flame retardant formulations and manufacturing processes enhance the performance and versatility of flame retardant products, expanding their applications in diverse industries.

Despite the growing demand, the flame retardant industry faces challenges related to environmental concerns and regulations surrounding the use of certain chemical compounds. Regulatory restrictions on the use of halogenated flame retardants due to their adverse environmental and health impacts pose limitations on market growth. Additionally, concerns regarding the effectiveness of flame retardants in preventing fire accidents and their long-term impact on human health and the environment raise skepticism among consumers and regulatory authorities, hindering market expansion.

The growing adoption of flame retardants in emerging markets, driven by urbanization and infrastructure development, offers lucrative opportunities for market expansion. One of the prominent trends in the flame retardant industry is the shift towards non-halogenated flame retardants, driven by environmental and health concerns associated with halogenated compounds. Manufacturers are increasingly focusing on developing sustainable and bio-based flame retardant alternatives to address regulatory restrictions and consumer preferences for eco-friendly products. Another emerging trend is the integration of flame retardants into advanced materials and composites used in additive manufacturing, enabling the production of fire-resistant components for various applications.

“The flame retardant industry presents significant opportunities for innovation and market growth, particularly in developing non-halogenated and environmentally friendly flame retardant solutions. Manufacturers can capitalize on increasing consumer demand for sustainable and eco-friendly products by investing in research and development to create novel flame retardant formulations.” comments an analyst at Future Market Insights (FMI).

Key Takeaways from the Market Study

The alumina trihydrate segment is likely to lead with a CAGR of 5.4% through 2034.
Unsaturated polyester resins segment to dominate the market with a CAGR of 5.2% through 2034.
The United States flame retardant market is predicted to rise at a CAGR of 5.9% through 2034.
The United Kingdom flame retardant industry is projected to expand at a CAGR of 6.6% through 2034.
China’s flame retardant industry is likely to witness growth at a CAGR of 7.0% through 2034.
Japan’s flame retardant market is expected to rise at a CAGR of 6.9% through 2034.
South Korea’s flame retardant industry is anticipated to expand at a CAGR of 7.5% through 2034.

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Competitive Landscape

Competition in the flame retardant industry is intensifying as manufacturers strive to address the pressing need for enhanced fire safety solutions across various sectors. With stringent regulations and standards governing fire safety in industries like construction, electronics, and automotive, companies are engaged in fierce competition to develop and market innovative flame retardant products. As a result, industry players are investing heavily in research and development to create advanced flame retardant formulations that offer superior performance and comply with stringent safety requirements.

With sustainability emerging as a key concern in the industry, competition is also driven by the race to develop eco-friendly flame retardant solutions. Manufacturers strive to differentiate themselves by offering environmentally conscious products that minimize environmental impact without compromising effectiveness. This trend reflects the industry’s response to the growing demand for sustainable fire safety solutions from regulatory bodies and consumers.

Recent Developments:

Albemarle Corporation held a virtual 2023 Strategy Update in January 2023, during which it revealed its revised five-year forecast and preliminary 2022 performance. The business has announced intentions to reorganize its core portfolio, with a greater emphasis on growth prospects in mobility, energy, connectivity, and healthcare.
In December 2022, BASF SE introduced Flamestab NOR 116, a novel flame retardant for polyamides 6 and 66. The product is based on a new nitrogen-phosphorus synergism that provides great thermal stability, reduced migration, and corrosion resistance.
DOW launched a new range of silicone-based flame retardants in November 2022, known as DOWSIL FR-1100 and FR-1500. The products are intended to enhance the fire resistance and durability of polyurethane foam used in building and construction applications.

Key Companies in the Flame Retardant Industry

Albemarle Corporation
BASF SE
DOW
Eastman Chemical Company

Key Segmentation

By Type:

Alumina Trihydrate
Brominated Flame Retardant
Antimony Trioxide
Phosphorous Flame Retardant
Others

By Application:

Unsaturated Polyester Resins
Epoxy Resins
PVC
Rubber
Polyolefins
Others (Engineering Thermoplastics and PET)

By End User Industry:

Construction
Automotive & Transportation
Electronics
Others (Textiles, Aerospace, and Adhesives)

By Region:

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

About Future Market Insights (FMI)

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Energy Recovery Ventilator Core Market Share Set to Reach USD 2.5 billion by 2034: Key Drivers and Trends

The global energy recovery ventilator core market size is poised to reach a valuation of USD 1.1 billion by 2024, driven by partnerships with energy service companies. This trend is set to unlock new avenues for market growth, with a projected CAGR of 8.1% between 2024 and 2034, culminating in a total valuation of around USD 2.5 billion by 2034.

The increasing frequency and severity of extreme weather events attributed to climate change are driving the demand for resilient HVAC systems, including energy recovery ventilators. Energy recovery ventilator core systems play a crucial role in maintaining indoor comfort and air quality amid temperature fluctuations and adverse weather conditions.

The growing focus on achieving net zero energy consumption in buildings is accelerating the adoption of energy-efficient technologies such as energy recovery ventilators. These systems not only reduce overall energy consumption but also contribute to sustainable building performance and energy neutrality goals.

Building owners and operators are increasingly seeking customizable and modular energy recovery ventilator solutions tailored to their specific project requirements and space constraints. Manufacturers that offer flexible and scalable systems stand to capitalize on this demand and gain a competitive edge in the market.

Green building certifications such as Leadership in Energy and Environmental Design (LEED) and Building Research Establishment Environmental Assessment Method (BREEAM) are driving the adoption of energy recovery ventilators as a means to achieve certification requirements related to energy efficiency, indoor air quality, and environmental sustainability.

Key Takeaways from the Market Study

Global energy recovery ventilator core market was valued at US$ 1.0 Billion in 2023.
From 2019 to 2023, the market demand expanded at a CAGR of 10.6%.
The market in Japan is expected to expand at a CAGR of 9.8% through 2034.
By material types, the fibrous paper segment to account for a CAGR of 7.8% through 2034.

The market in the United Kingdom is expected to expand at a CAGR of 9.3% through 2034.
In terms of shapes, the diamond segment to account for a market share of 7.6% in 2024.

“Ongoing advancements in material science and manufacturing techniques are enabling the development of lightweight, high performance cores with improved thermal conductivity, corrosion resistance, and longevity. Innovations in materials and production processes contribute to the optimization of the system performance and reliability,” – remarks an FMI analyst.

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Competitive Landscape

Prominent players in the energy recovery ventilator core market are Core, Inc., Ruskin, Beijing Holtop Air Conditioning Co., Ltd., Greenheck Fan Corporation, Oji Container Co., Ltd., Innergy Tech, Inc., Hoval, Xiamen AIR-ERV Technology Co., Ltd., Klingenburg USA, LLC, and Dais Corporation, among others.

Company Portfolio

Mitsubishi Electric is known for its innovative HVAC solutions, including energy recovery ventilators with advanced heat exchange technologies. The emphasis of the company on product quality, energy efficiency, and customer satisfaction strengthens its position in the competitive landscape.
Johnson Controls offers a diverse portfolio of HVAC products and solutions, including energy recovery ventilators designed to enhance indoor air quality and energy efficiency. The global presence and strong distribution network of the company contribute to its competitiveness in the market.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global energy recovery ventilator core market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the energy recovery ventilator core market, the market is segmented on the basis of material types (fibrous paper, engineered resin, others), shapes (diamond, square, wheel, hexagon), and flow types (crossflow, counter flow), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).

Segmentation Analysis of the Energy Recovery Ventilator Core Market

By Material Types:

Fibrous Paper
Engineered Resin
Others

By Shapes:

Diamond
Square
Wheel
Hexagon

By Flow Types:

Crossflow
Counter Flow

By Region:

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

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Global Phosphorus-Enriched Organic Manure Market Set to Surge: Projected Growth to Reach USD 6,347.6 million by 2034

Phosphorus Enriched Organic Manure

The global phosphorus-enriched organic manure market size is expected to grow significantly, with its value increasing from USD 3,382.9 million in 2024 to USD 6,347.6 million by 2034. This growth corresponds to a CAGR of 6.5% over the forecast period.

The rising demand for environmentally friendly organic products is driving the market for phosphate-rich organic manure (PROM). As awareness of sustainable farming practices and the need to reduce the chemical load on the environment grows, PROM is gaining popularity among farmers and gardeners.

Unlike chemical fertilizers, PROM does not harm soil health or pollute the environment. It helps prevent soil erosion and supplies essential macro- and micronutrients to the soil, thus supporting market growth.

Farmers are increasingly using PROM due to its versatility in various crops and soil types, along with its beneficial features as an ideal soil conditioner that enhances soil porosity. Additionally, a growing number of government programs and product introductions incorporating vermicomposting methods are anticipated to create additional market potential.

Key industry participants are showing a growing interest in producing organic manures through bio-conversion techniques. This is expected to open up profitable opportunities in the market for phosphorus-enriched organic manure.

Key Takeaways from the Report

The global phosphorus-enriched organic manure market is projected to thrive at 6.5% CAGR through 2034.
By source, the animal-based segment is expected to have a CAGR of 5.7% by 2034.
By crop type, the cereals & grains segment is set to hold a market share of 64.2% in 2024.
East Asia is expected to account for a significant share of about 29.7% in 2034.
China is projected to surge at a CAGR of 6.5% by 2034.
Demand in India is predicted to rise at 7.0% CAGR through 2034.

“The phosphorus-enriched organic manure market is poised to witness healthy growth due to the increasing adoption of sustainable agricultural practices and rising demand for organic produce. Key end-use industries such as farming, gardening, and horticulture are driving the demand for these fertilizers, further propelling market expansion,” – says a lead analyst at Future Market Insights (FMI).

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Competitive Landscape

The global phosphorus enriched organic manure market is fragmented, with leading players accounting for around 40% to 45% share. Sustane Natural Fertilizer Inc., Biogen Fertilizers India Private Ltd., Hindustan Bec Tech India Pvt. Ltd., and Jaipur Bio Fertilizers, are the leading manufacturers and suppliers of phosphorus enriched organic manure listed in the report.

Key phosphorus enriched organic manure companies are investing in continuous research for producing new products and increasing their production capacity to meet end-user demand. They are also showing an inclination toward adopting strategies, including acquisitions, partnerships, mergers, and facility expansions to strengthen their footprint.

Recent Developments

In 2022, Tessenderlo Group built a new organic fertilizer production line in Vénérolles, France.
In 2023,OCP, a Morocco-based manufacturer of fertilizers and phosphates, sent 1.7 million tons of phosphate-based fertilizers to India.

More Insights into the Phosphorus Enriched Organic Manure Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global phosphorus enriched organic manure market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034.

To understand the global market potential, growth, and scope, the market is segmented based on source (plant-based, animal-based), crop type (cereals & grains, oilseed & pulses, fruits & vegetables, others), form (solid, liquid), application (farming, gardening), and region.

Phosphorus Enriched Organic Manure Market Segmentation by Category

By Source:

Plant-based
Animal-based

By Crop Type:

Cereals & Grains
Oilseed & Pulses
Fruits & Vegetables
Others

By Form:

Solid
Liquid

By Application:

Farming
Gardening

By Region:

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

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Rising Urbanization and Technological Innovations Propel Architectural Metal Coating Market Growth at 5.1% CAGR

The architectural metal coating industry size is expected to be valued at USD 5.7 billion in 2024. The market’s progress is projected to expand at a CAGR of 5.1% from 2024 to 2034. By 2034, the market value is forecasted to reach USD 9.4 billion.

The increasing demand for new buildings and infrastructure projects is stimulating sales of metal coatings to protect and enhance the appearance of metal surfaces. The flourishing construction industry is one of the major drivers of market expansion.

The use of eco-friendly coatings has been increasing in recent years due to environmental concerns. Architects and builders are now opting for coatings that are low in volatile organic compounds (VOCs) and are free from toxic metals like lead and cadmium. This trend is expected to continue, driving the demand for eco-friendly metal coatings.

With the rising cost of energy, there has been a growing focus on adopting energy-efficient practices in buildings. Metal coatings can help increase the energy efficiency of buildings by reflecting sunlight and reducing heat absorption. This, in turn, can reduce the need for air conditioning and lower energy costs. As energy efficiency becomes a key concern for builders, the demand for metal coatings is expected to rise.

“Significant advancements in coating technologies that can offer superior protection, durability, and performance are expected to boost the market. These advancements are expected to drive the demand for metal coatings as builders and architects seek to integrate advanced technologies to protect and enhance metal surfaces,” says an analyst at FMI.

Key Takeaways from the Architectural Metal Coating Market

The global architectural metal coating market is estimated to register a CAGR of 5.1% through 2034.
The market is expected to reach a valuation of USD 9.4 billion by 2034.
The polyurethane segment is anticipated to dominate the market by registering a CAGR of 4.7% from 2024 to 2034.
The roofing & cladding segment is expected to rise at a 4.5% CAGR over the forecast period.

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Competitive Landscape

The architectural metal coating market is highly competitive. Companies offer a wide variety of coating products, including powder coatings, liquid coatings, and specialty coatings. These coatings have varying levels of durability, performance, and aesthetic appeal. In addition to these major companies, there are also several smaller companies focusing on niche areas of the market, such as eco-friendly coatings or coatings for specific types of metal. Overall, innovation drives the market, with companies continuously developing new coatings to cater to the evolving needs of architects, builders, and property owners.

Key Market Players

Alcea S.p.A.
Kansai Paint Co. Ltd.
KCC Corporation
AkzoNobel Axalta Coating Systems,
BASF
Sherwin-Williams
Wacker Chemie AG
Beckers Group
NOROO Coil Coatings
Hempel
Jotun
Nippon Paint Co. Ltd.
PPG
Yung Chi Paint & Varnish

Key Market Segmentation

By Type:

Polyurethane
Polyester
Fluoropolymer
Others

By Application:

Roofing & Cladding
Doors & Windows
Curtain Walls
Wall Panels & Facades
Others

By Region:

North America
Latin America
East Asia
South Asia
Europe
Oceania
MEA

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Surging Demand for Alpha Olefins in Personal Care and Packaging Sectors Drives Market Growth to USD 13.5 billion by 2034

The alpha olefin market is witnessing substantial growth, with the global market size projected to reach USD 7.6 billion in 2024 and forecasted to grow to USD 13.5 billion by 2034, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period. This press release provides a comprehensive overview of the alpha olefin market, including its value, growth projections, prominent drivers, and challenges faced by the industry.

Understanding the Alpha Olefin

Alpha olefins are a class of hydrocarbons characterized by a double bond between the first and second carbon atoms. They are primarily used as feedstock in the production of various chemicals and polymers, playing a vital role in numerous applications across industries. Alpha olefins are produced through the oligomerization of ethylene and are known for their versatility, making them essential in the formulation of linear low-density polyethylene (LLDPE), surfactants, synthetic lubricants, and more.

The diverse applications of alpha olefins in industries such as automotive, consumer goods, and personal care underscore their importance in the global economy. Their unique properties, including thermal stability and excellent viscosity, contribute to their growing utilization in various formulations, enhancing performance and product efficacy.

Alpha Olefin Value and Growth Projections

The alpha olefin market is on a growth trajectory, with a valuation of USD 7.6 billion in 2024. This significant figure underscores the increasing demand for alpha olefins in the production of LLDPE, surfactants, and lubricants. By 2034, the market is expected to expand to USD 13.5 billion, indicating a burgeoning interest from manufacturers and consumers alike in these versatile chemicals. The projected CAGR of 5.9% highlights the potential for further development and innovation within this sector, attracting investments and new market players.

Prominent Drivers of the Alpha Olefin

Several factors are contributing to the growth of the alpha olefin market:

Rising Demand for Linear Low-Density Polyethylene (LLDPE): The increasing applications of LLDPE in packaging, films, and consumer goods are a major driver for alpha olefins. LLDPE’s versatility and lightweight properties make it an ideal choice for manufacturers seeking sustainable and efficient materials.
High-Performing Surfactants: The demand for alpha olefin sulfonate (AOS) in personal care products, detergents, and industrial cleaning applications is on the rise. As consumers become more hygiene-conscious, the need for effective surfactants that offer superior cleaning and emulsifying properties is pushing manufacturers to incorporate alpha olefins in their formulations.
Urbanization and Increased Hygiene Awareness: Rapid urbanization, particularly in developing regions, has resulted in heightened awareness of hygiene and cleanliness. This trend is further propelling the demand for products containing alpha olefins, as consumers seek high-quality personal care and cleaning products.
Applications in Synthetic Lubricants: Alpha olefins are increasingly being used in the production of synthetic lubricants due to their excellent thermal stability and viscosity characteristics. The automotive and industrial sectors are driving this demand, as manufacturers seek to improve the performance and lifespan of their products.

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Key Manufacturers in Alpha Olefin Market

Huntsman Corporation
Clariant AG
P. Chemicals
Kao Corporation
Zanyu Technology Group Co. Ltd.
Stepan Company
Pilot Chemical Company
Nouryon
Enaspol
Rohit Surfactants Private Limited
Others

Challenges Faced by the Alpha Olefin Market

While the alpha olefin market is poised for growth, it also faces several challenges:

Environmental Concerns: The production and disposal of alpha olefins and their derivatives raise environmental concerns. Regulatory pressures aimed at reducing the carbon footprint of chemical processes are compelling manufacturers to adopt more sustainable practices and explore eco-friendly alternatives.
Volatility in Raw Material Prices: The alpha olefin market is susceptible to fluctuations in the prices of raw materials, particularly ethylene. Price volatility can affect production costs and profit margins, posing challenges for manufacturers in maintaining competitive pricing.
Technological Advancements: As the market evolves, companies must continually innovate to meet changing consumer preferences and regulatory standards. Keeping pace with technological advancements and integrating new processes can require significant investment and resources.
Competition: The alpha olefin market is becoming increasingly competitive, with new entrants and established players vying for market share. This heightened competition may pressure companies to lower prices or enhance product offerings, impacting profitability.

Key Segments Covered in the Alpha Olefin Market Report

By Product:

1-Octene
1-Hexene
1-Butene
Others

By Application:

Synthetic Lubricants
Detergent Alcohol
Polyethylene
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Key Segments Profiled in the Alpha Olefin Sulfonates Industry Survey

By Product Type:

Sodium C12-14
Sodium C14-16
Sodium C14-18
Sodium C16-18

By Form:

Solid & Semi-solid Paste
Liquid

By Application:

Soaps & Detergents
Personal Care Products
Lubricant Additives
Others (Pesticides, Construction Chemicals, etc.)

By Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa

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Future of Aramid Honeycomb Core Materials Market Expected to Achieve USD 845 million by 2034, Fueled by Demand for Weight Reduction in Multiple Industries

The global aramid honeycomb core material industry value is expected to rise from USD 267.2 million in 2024 to USD 845 million by 2034. This market is expected to register a CAGR of 12.60% over the next decade.

The growth of the market is associated with an unwavering commitment to nonstop improvement. Market players are deliberately choosing to prioritize the constant refinement of their products, processes, and customer experiences to position themselves as market leaders.

Sales of aramid honeycomb core materials are rising on account of the increasing demand for lightweight materials in automobiles and the aerospace industry. In the marketspace, players are strategizing for excellence to not only meet the present demands of the market but also proactively get ahead with the help of perpetual evolution.

Key Takeaways from the Aramid Honeycomb Core Material Market Report

The aramid honeycomb core material market grew at a CAGR of 13.2% from 2019 to 2023. The market is estimated to expand at a 12.6% CAGR through 2034.
The United States aramid honeycomb core material industry is pegged to achieve US$ 156.7 million by 2034, expanding at a CAGR of 12.7% during the forecast period.
The United Kingdom market is slated to achieve USD 35.5 million, expanding at a CAGR of 13.9% through 2034.
In Asia Pacific, China, Japan, and South Korea are projected to be important consumers of aramid honeycomb core materials.
The Nomex segment is projected to register a CAGR of 12.5% through 2034.
The interior application is expected to be a prominent segment in upcoming years. The application is expected to record a CAGR of 12.3% through 2034.

“Market players are embracing a culture of adaptability and innovation to create a dynamic framework that permits them to embrace new trends, navigate uncertainties, and maintain a competitive edge. Continuous improvements are thus a cornerstone for sustained market growth in this constantly evolving aramid honeycomb core material market,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

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Competitive Landscape

Players in the aramid honeycomb core material market are experiencing fierce competition and tight margins. As a result, they are vigorously employing multiple strategies to have an upper hand in the market. Industry participants are taking a customized route to differentiate themselves from their peers, especially in high-value applications like defense and aerospace, for higher returns.

A go-to-market strategy for industry players is developing new aramid honeycomb core materials with unique performance characteristics. To achieve these characteristics, players are exploring different resin systems, cell sizes, and aramid fiber types.

Notable Players in the Aramid Honeycomb Core Material Market

Hexcel Corporation
Plascore, Inc.
The Gill Corporation
EURO-COMPOSITES
ACP Composites, Inc.
Toray Advanced Composites
Argosy International Inc.
Showa Aircraft Industry Co., Ltd.
Teijin Aramid B.V.
HONEYCOMB CELLPACK A/S
DuPont
Honeylite
Schütz GmbH & Co. KGaA
Advanced Honeycomb Technologies
Aramicore Composite Co., Ltd.
Huvis
Corex Honeycomb
China National Bluestar (Group) Co, Ltd.
TAEKWANG INDUSTRIAL CO. LTD.
Tasuns Composite Technology Co. Ltd.

Recent Developments

In July 2023, teachers, graduates, and students of the Hong Kong Institute of Vocational Education (IVE) together developed a new car to contest in the October World Solar Challenge 2023 in Australia. This eighth-generation solar-powered car developed by engineers of IVE is called Sophie 8. Drawing inspiration from the previous version, Sophie 6, the team created a lightweight and strong car body with the help of carbon fiber and aramid honeycomb core materials.
In August 2021, the Corex team made the announcements about its Exhibit at Railtex 2021, which took place at the NEC, Birmingham. The 15^th edition of Railtex focused on Infrarail, at the rail infrastructure supply chain. Visitors saw samples of an entire product portfolio on the Corex Honeycomb stand. These samples included SuperFlex flexible honeycomb, Kevlar® and Nomex® aramid paper honeycomb core, polypropylene honeycomb, and aluminum.

Key Segments Covered in the Aramid Honeycomb Core Material Market Report

By Type:

Nomex
Others

By Application:

Interior
Exterior

By Transportation Type:

Airways
Railways
Waterways

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Global Biomass Gasification Market Set to Reach USD 270.7 billion in 2034, Driven by Environmental Concerns and Rising Demand for Sustainable Energy

The global biomass gasification industry size is anticipated to reach a valuation of USD 113.9 billion in 2024, driven by awareness and education. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 9% between 2024 and 2034, and reaching a total valuation of approximately USD 270.7 billion by 2034.

Growing investments in renewable energy projects, including biomass gasification, are contributing to market expansion. Investors and financial institutions are recognizing the long-term potential and viability of such projects. Efficient gas cleaning and purification technologies are essential for biomass gasification systems. Ongoing advancements in this area are improving the overall reliability and environmental performance of biomass gasification processes.

Integration of biomass gasification with other renewable energy sources, such as solar or wind, in hybrid energy systems is gaining attention. The approach aims to provide a more reliable and consistent power supply, overcoming the intermittency associated with some renewable sources.

The growing interest in electrifying transportation, including electric vehicles and charging infrastructure, creates opportunities for biomass gasification to contribute to the generation of renewable electricity for the transportation sector. Government initiatives and policies, such as renewable energy targets, carbon pricing mechanisms, and clean energy incentives, play a pivotal role in shaping the biomass gasification market. Supportive regulatory frameworks can accelerate market growth.

Biomass gasification is gaining traction in various industrial sectors for process heating, steam generation, and combined heat and power applications. Industries seeking sustainable alternatives for their energy needs present a significant market opportunity. Ongoing research and development efforts are focused on improving gasifier technology, increasing efficiency, and reducing capital and operational costs. Advanced gasification technologies, such as fluidized bed gasifiers and entrained flow gasifiers are being explored.

Key Takeaways from the Market Study:

The global biomass gasification market was valued at USD 104.7 billion in 2023.
From 2019 to 2023, the market demand expanded at a CAGR of 11.1%.
The market in Japan is expected to expand at a CAGR of 10.3% through 2034.
By application, the chemicals segment accounts for a CAGR of 8.3% through 2034.
The absolute dollar growth of the market is projected to reach a value of USD 154.0 billion during the forecast period
The market in the United Kingdom is expected to expand at a CAGR of 10.0% through 2034.

“Biomass gasification is well suited for microgrid applications, especially in remote or off-grid areas. The ability to generate power locally can enhance energy security and reliability, particularly in regions with unreliable grid infrastructure” – says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

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Company Portfolio:

ThyssenKrupp is a diversified industrial group based in Germany. They operate in various sectors, including steel, industrial solutions, elevator technology, and materials services. The company is also involved in various sustainable and green technologies. They have expertise in engineering and providing solutions for biomass gasification, given their focus on industrial solutions.
Siemens is a global conglomerate with activities in electrification, automation, and digitalization. The company operates in numerous sectors, including energy, healthcare, and industry. The company has offerings related to sustainable energy solutions. They offer technology and services for biomass gasification as part of their commitment to environmentally friendly energy sources.

Key Companies Profiled

ThyssenKrupp AG
Siemens
Mitsubishi Heavy Industries Ltd
Sedin Engineering Company Limited
Cb&l
General Electric, Kbrinc
Air Liquide
Synthesis Energy Systems Inc.
Royal Dutch Shell Plc.

More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global biomass gasification market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the biomass gasification market, the market is segmented on the basis of fuel type (wood, animal waste, others), and application (chemicals, liquid fuels, power, and gas fuels), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

Segmentation Analysis of the Biomass Gasification Market:

By Fuel Type:

Wood
Animal Waste
Others

By Application:

Chemicals
Liquid Fuels
Power and Gas Fuels

By Region:

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

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