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Washing Machine Market - Forecast(2025 - 2031)

Washing Machine Market Overview:

The Washing Machine Market size is estimated to reach $82762.5 million by 2030, growing at a CAGR of 3.9% during the forecast period 2024-2030. According to the International Trade Center (ITC), the total trade of washing machines was evaluated at $66985.2 million in 2024. This growth is attributed to the consumer affluence and the latest innovations occurring in the washing machine market such as bubble technology and drive technology. These factors are disrupting the overall washing machine market growth and gaining consumer traction as they lessen energy-consumption and fabric damage. The global washing machine market had a valuation of $66985.2 million as of 2024. Furthermore, the demand for washing machines is estimated to grow at a CAGR of 3.9% during the forecast period 2024-2030.

The report notes that North America has been witnessing high growth rate in the washing machine market recently. In 2018, North America recorded 36.84% of the global revenue share. Advancements in home appliances with growing possibilities of Internet of Things (IoT), the washing machines are among a variety of in-house tools saving energy while easing chores.

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Washing Machine Market Outlook:

Based on their type of operation, a washing machine is categorized into semi-automatic and fully-automatic. A semi-automatic clothes washer needs human intervention to change the wet clothes from one tub to another, while the fully-automatic needs a single touch to start operation. Fully automatic laundry machines are power-efficient too.

Laundry is a regular practice among residential users. Owing to the design features and user-friendly operation, the residential washing machine market growth is poised to rise at a CAGR of 6.70% during the aforesaid forecast period. At present, residential washing machines, which consume less water and provide less human interventions to operate are in demand. The demand influx in the residential washing machine market is attributed to the consumer affluence and hectic lifestyle of the residential consumers.

Washing Machine Market Growth Drivers:

· Smart Technologies Invade the Washing Machine Market –

Convenience that does not compromise performance is being the top priority for the consumers.This is leading to the innovations of smart technologies in the home appliances market, especially in the washing machine industry. A few manufacturers are using smart technologies such as drive technology and bubble technology to tag the data and track the status of the items washed, whereas others are using to measure the performance indicators such as electricity, chemicals, and resources. Smart technology embedded clothe washers do not overrun, thereby saving time for consumers, especially for the commercial laundry businesses.

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· Design Conquers Functionality –

Today, consumers treat appliances as a piece of furniture.The functionality of washing machines can be almost similar. The consumers are trying to blend the washing machines into their living spaces. When the functionality is same, the design that impacts the consumer emotions is the best-selling one in the market. These design features act as a growth drivers to the washing machine market. This is poised to be a major application driver in the washing machine market.

Washing Machine Market Trends –

· Building brand loyalty –

In order to differentiate their products from their peers, marketing teams of giant players are focusing on building their brand and gaining customer loyalty. These organizations are trying to connect emotionally with the consumers and highlight their fancy design elements of the washing machines. By building the brand loyalty, companies are trying to increase their washing machine market share.

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·  Acquisitions in the washing machine market –

In February 2018, Hughes Electrical acquired Armstrong which is a worldwide producer of commercial laundry equipment. This acquisition allows Hughes to open trade counters to provide domestic equipment to local businesses as well as to Armstrong customers.

Washing Machine Market: Key Players

Samsung Group, LG Electronics Inc., Whirlpool Corporation, Panasonic Corporation, Robert Bosch GmbH, Miele, Toshiba Corporation, Haier Group Corporation, Electrolux AB, BSH Hausgeräte GmbH, General Electric Company, Hisense Co. Ltd., and Hitachi, Ltd. are major players in the global washing machine market.

Washing Machine Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the washing machine market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The washing machine market research report also analyses the application of the washing machines in various industries such as residential, hospitals, hotels and, others.

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Washing Machine Market Report: Industry Coverage

This report also documents the washing machine market based on operation type that includes semi-automatic and fully-automatic washing machines.

The washing machine market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia

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Blockchain In Telecom Market - Forecast 2024-2030

Blockchain In Telecom Market Overview :

The blockchain in telecom market size is forecast to reach USD $25.2 billion by 2030, after growing at a CAGR of 54.4% during the forecast period 2024-2030.  The term "blockchain in telecom market" describes how blockchain technology has been adopted and integrated into the telecommunications industry. Blockchain is a distributed, decentralized digital ledger system that keeps track of transactions on several computers while guaranteeing the security, integrity, and immutability of data.

The telecom industry is using blockchain technology more and more to strengthen security and enhance identity management. Blockchain offers a strong framework for managing identities and safeguarding consumer data through the use of a decentralized ledger, making identity theft and data breaches practically unheard of. By ensuring secure transactions and communications, this improves customer confidence and complies with regulations. The use of blockchain technology to offer revenue assurance and stop fraud is another noteworthy trend. Fraudulent activities such as roaming and subscription fraud cause telecom carriers to suffer significant losses. Because of its transparent and unchangeable ledger, blockchain ensures correct billing and minimizes revenue leakage by assisting in the real-time detection and prevention of fraudulent transactions. For telecom businesses, this improves operational efficiency and profitability.

Report Coverage

The report “Blockchain in Telecom Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Blockchain in Telecom Market By Provider: Application Providers, Middleware Providers, Infrastructure Providers. By Organization Size: Small & Medium-Sized Enterprises, Large Enterprises. By Application: OSS/BSS Processes, Identity Management, Payments, Smart Contracts Connectivity Provisioning, Others. By Geography:  North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC (China, Japan India, South Korea, Australia & New Zealand, Indonesia, Malaysia, Taiwan and Others), South America (Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

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Key Takeaways

North America dominated the Blockchain in Telecom Market in 2023, which is accounted for nearly 44%. The region's strong adoption rates of blockchain technology and sophisticated technological infrastructure are credited with this dominance.

Application Providers dominated the Blockchain in Telecom Market in 2023. These suppliers solve a range of industry concerns by providing crucial services that use blockchain technology into telecom operations.

Blockchain technology has the potential to significantly lower costs in the telecom industry by streamlining a number of operational procedures. A fundamental component of blockchain technology, smart contracts automate contract execution, doing away with the need for middlemen and cutting down on administrative burden

By Provider - Segment Analysis

Application Providers dominated the Blockchain in Telecom Market in 2023 at 42.4% share. These suppliers solve a range of industry concerns by providing crucial services that use blockchain technology into telecom operations. These vendors develop applications for effective contract management, fraud protection, secure transactions, and identity management. Since blockchain's decentralized and immutable nature guarantees safe and impenetrable identity verification processes, identity management in particular has proven to be a crucial topic. The telecom industry's growing need for transparent and safe technologies that enable improved security and consumer data management is what's causing this dominance. It is anticipated that application providers' roles would grow and become more established as the telecom sector continues to innovate and adopt new technology.

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By Application - Segment Analysis

Smart Contracts dominated the Blockchain in Telecom Market in 202 at 25.75 share. Self-executing contracts, or smart contracts, have the conditions of the contract explicitly encoded into the code. They are essential in the telecom sector because of their capacity to safely and automatically manage agreements without the need for middlemen. This technology lowers expenses, increases operational efficiency, and lowers the possibility of human error. Smart contracts have been used by telecom businesses for several purposes, such as supply chain management that is transparent and impenetrable, roaming agreement management, and billing process automation. Smart contracts are becoming more and more popular because of their capacity to simplify intricate telecom processes, giving businesses a competitive advantage and enhancing service quality overall.

By Geography - Segment Analysis

North America dominated the Blockchain in Telecom Market in 2023, which is accounted for nearly 44%. The region's strong adoption rates of blockchain technology and sophisticated technological infrastructure are credited with this dominance. Early adopters of blockchain technology include North American telecom corporations, who use it for secure transactions, fraud prevention, and effective data management, among other uses. The telecom industry's adoption of blockchain solutions has been expedited by the robust presence of large technology corporations and startups in the United States. For instance, in April 2024, Aptos Labs is working on an institutional blockchain platform in partnership with SK Telecom and Microsoft. Furthermore, North America's dominant position has been reinforced by encouraging regulatory frameworks and significant expenditures in blockchain research and development. North America is therefore still a major participant in the blockchain telecom market, pushing innovation and establishing benchmarks for the sector. 

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Drivers – Blockchain in Telecom Market

Enhanced Security and Fraud Prevention

Strong security characteristics offered by blockchain technology are essential for the telecom sector. Preventing fraud is one of the main advantages, particularly when it comes to identity verification and roaming. Fraudulent actions cause telecom businesses to lose a lot of money, but the decentralized and unchangeable record of blockchain helps to reduce these risks. For instance, in February 2024, Telefónica and Chainlink Partnered to offer Security Against "SIM Swap" Attacks. Through this partnership, blockchain transactions will benefit from an additional degree of protection. Blockchain lessens the possibility of fraudulent activity and illegal access by guaranteeing that every transaction is visible and verifiable. Blockchain is a vital tool for the future development and credibility of the telecom industry because of its improved security, which not only safeguards customer data but also fortifies the general integrity of telecom networks.

Operational Efficiency and Cost Reduction

Blockchain technology has the potential to significantly lower costs in the telecom industry by streamlining a number of operational procedures. A fundamental component of blockchain technology, smart contracts automate contract execution, doing away with the need for middlemen and cutting down on administrative burden. This automation can be used to improve efficiency and lower errors in a variety of telecom tasks, including supply chain management, service delivery, and billing. Telecom firms can achieve higher operational efficiency, which translates to cost savings and enhanced customer service quality, by reducing manual processes and guaranteeing faster, more reliable transactions.

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Challenges – Blockchain in Telecom Market 

Regulatory and Compliance Challenges

Blockchain technology works in a regulatory landscape that is complicated, especially in the telecom sector, which is already governed by strict laws. The adoption of blockchain technology increases the difficulty of adhering to legal requirements such as data protection legislation and anti-money laundering regulations. The regulatory environment pertaining to blockchain technology and cryptocurrencies is fragmented as a result of differing national laws. To guarantee that their blockchain implementations adhere to all applicable laws, telecom businesses need to successfully negotiate these regulatory obstacles. Furthermore, regulatory compliance may be hampered by the anonymity and immutability of blockchain transactions, making it challenging to audit and monitor specific activity. To overcome these obstacles and guarantee that blockchain solutions are transparent and compliant with the law, strong regulatory cooperation and compliance framework development are necessary.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Blockchain in Telecom Market in 2023, The major players in the Blockchain in Telecom Market are Amazon Web Services, Microsoft, SAP, Oracle, IBM, Huawei Enterprise, Subex, Protokol BV, Recordskeeper, Cegeka and Others.

Developments:

In April 2024, the company behind the now-defunct Diem blockchain, Aptos Labs, a blockchain business created by former Meta Platforms Inc. staff members, revealed that it has partnered with significant technology and financial companies to develop Aptos Ascend, a digital asset management platform for financial institutions.

In February 2024, Telefónica and Chainlink Partnered to offer Security Against "SIM Swap" Attacks. Through this partnership, blockchain transactions will benefit from an additional degree of protection

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Fine Chemicals Market - Forecast 2024-2030

Fine Chemicals Market Overview

Fine Chemicals market size is forecast to reach US$274 billion by 2030, after growing at a CAGR of 5.7% during 2024-2030. Fine chemicals can be defined as pure, complex as well as single chemicals that are produced in multipurpose plants by biotechnological process or batch production methods. Moreover, these are generally manufactured at lower quantities and are sold at higher prices. These chemicals are used in special applications as a starting material for the manufacture of biocides, generic drugs, paints and specialty chemicals. One of the major factors driving the growth of fine chemicals market is growing demand for fine chemicals in pharmaceutical sector. Also, the increasing demand for agrochemicals and rise in construction activities will boost the fine chemical market.

A significant trend in the Fine Chemicals Market is the use of green fine chemicals. These are produced using environmentally friendly processes that minimize the use of hazardous substances, reduce energy consumption and generate less waste. Due to the growing sustainability demand, the chemical industry also aims to employ sustainable manufacturing processes and produce chemicals that are eco-friendly. In November 2023, Lotte Fine Chemical Co. announced an investment of $99 million in an aim to become the world’s largest food and pharmaceutical materials producer and bump up its green materials sales by six times by 2030. Another trend in the market is supply chain diversification. The increasing geopolitical tensions and supply chain disruptions particularly related to China are driving a strong trend towards diversifying sourcing options for fine chemicals.

Fine Chemicals  Report Coverage

The report "Fine Chemicals Market Report – Forecast (2024-2030)" by IndustryARC covers an in-depth analysis of the following segments of the Fine Chemicals Market.AttributeSegment

By Type

Active Pharmaceutical Ingredients

Agrochemicals

Specialty Chemicals

By Application

Pharmaceuticals

Cosmetics

Agriculture

Electronics

Food and Beverage

Petrochemicals

Plastics

Metal and Mining

Others

By Geography

North America (U.S, Canada and Mexico)

Europe (Germany, France, UK, Italy, Spain, Netherlands, Russia and Rest of Europe),

Asia-Pacific (China, Japan, South Korea, India, Australia, Malaysia, Indonesia and Rest of Asia-Pacific),

South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

The Fine Chemicals industry witnessed the demand for automation during the COVID 19 pandemic which arose due to the need to minimize human interaction and safety. Additionally, the change in consumer behavior from minimally processed foods to packaged and processed necessitated machinery upgrades to accommodate increased production volumes and necessitated manufacturers to rethink their machinery requirements.

The Russia-Ukraine war drastically affected the supply of critical agricultural exports mainly grains and sunflower oil, which are essential in the food processing industry. Sanctions and severed trade routes raised raw material costs, leading to machinery manufacturers to concentrate on energy efficient machinery and alternative modes of resource use. 

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Key Takeaways

Active Pharmaceutical Ingredients are the Largest Segment

Active pharmaceutical ingredients (APIs) are the active components in a pharmaceutical drug (pill, capsule, cream, injectable etc.) that produce the required effect on the body to treat a condition. Despite high manufacturing costs, stringent regulatory policies, and policies in controlling drug prices in many countries, attractive opportunities have emerged in the API market due to growing incidence of chronic or non-communicable diseases. In June 2024, Pfizer commissioned its expanded, highly automated active pharmaceutical ingredient (API) manufacturing facility at the Tuas Biomedical Park in Singapore. The $744 million facility covers 429,000 square feet and will produce antibiotics and small molecules for Pfizer’s oncology, pain and antibiotic medicines. APIs find application in high quality drugs that treat diseases pertaining to oncology, cardiology, CNS and neurology, orthopedic, pulmonology, gastroenterology, nephrology, ophthalmology and endocrinology.

Pharmaceuticals are the Largest Segment

Pharmaceutical fine chemicals can be defined as the set of products or active pharmaceutical ingredients as well as services such as process development and optimization associated with the access by pharmaceutical companies to the API throughout the product life cycle, as per Contact Pharma. The key driver of the pharmaceutical market growth is the budding API manufacturing in developing countries. India and China produce APIs and drug intermediates for regulated markets. As the pharmaceutical industry is highly competitive, the ability to offer a low price is crucial. Generic drug manufacturers outsource bulk drug manufacturing activities to API manufacturers in developing countries, who deliver the APIs at a low cost. In 2023, India exported Active Pharmaceutical Ingredients (APIs) worth approximately $5.5 billion, as per data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S).

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North America Leads the Market

North America occupies the largest market share in the Fine Chemicals Market due to the demand from pharmaceutical and agrochemical industries which are the largest consumers of these chemicals. In May 2024, theU. S. Department of Agriculture (USDA) Secretary announced that USDA is investing in domestic fertilizer projects. As per the announcement, the Department is awarding $83 million in 12 states for projects through the Fertilizer Production Expansion Program (FPEP). This program provides grants to independent business owners to help them modernize equipment, adopt new technologies, build production plants and more. These investments will boost domestic fertilizer production, strengthen competition and lower costs for U.S. farmers. Additionally, the region advanced manufacturing capabilities, robust R&D infrastructure and several players that prioritize innovation and quality. Furthermore, the strict regulatory standards such as those enforced by the FDA and EPA drive the demand for high-purity fine chemicals in drug development and crop protection applications. The presence of well-established supply chains and strategic partnerships between chemical manufacturers and end-use industries further strengthens the region’s dominance. Moreover, North America benefits from substantial investments in biopharmaceuticals, specialty chemicals and sustainable practices. 

Rising Demand for Pharmaceuticals Drives the Market

The growth scope for fine chemicals for active pharmaceutical ingredients is high compared to other types due to its wide range of applicability in drugs for the medical and pharmaceuticals sector to treat a rising number of chronic diseases. The demand for fine chemicals such as polypeptide, erythropoietin and others are growing due to the rising utilization of pharmaceuticals and biopharmaceuticals. In addition, the advancements in therapeutic drugs and medical devices and others are fueling its growth. In May 2024, Eli Lilly and Company announced a $5.3 billion investment in its manufacturing site in Lebanon, Indiana, US which increases the firm’s total investment to $9 billion. This expansion will expand manufacturing capacity of active pharmaceutical ingredients (APIs) for Zepbound (tirzepatide) injection and Mounjaro (tirzepatide) injection. Thus, with the massive utilization of these fine chemicals in pharmaceuticals for drugs and medications, the demand for fine chemicals is projected to grow rapidly during the forecast period.

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Stringent Safety and Environmental Concerns to Hamper the Market

Fine chemicals have various negative impacts on the environment which restrains the growth of the fine chemicals market. Various strict regulations and strict rules regarding the negative effects of fine chemicals on the environment can act as a major constraint.  These include regulations and initiatives taken by industrial associations in order to set standards for the management of an organization’s environmental impacts, product certification and issuance of licenses to decrease the harmful impact on the environment and adoption of clean technologies and improvement in management practices under CREP (Corporate Responsibility for Environmental Protection) Programs formulated by the Central Pollution Control Board. 

Fine Chemicals Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Fine Chemicals Market. Global Fine Chemicals top 10 companies include:

BASF SE

Sumitomo Chemical Company

LANXESS

Lonza Group

Lotte Fine Chemical Co., Ltd

Novonesis Group

Arkema

Solvay S.A

Evonik Industries

Boehringer-Ingelheim

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Scope of the Report:

Report MetricDetails

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

5.7%

Market Size in 2030

$274 Billion

Segments Covered

By Type, By Application and By Geography

Geographies Covered

North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, Malaysia, Indonesia and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of the World (Middle East and Africa)

Key Market Players

BASF SE

Sumitomo Chemical Company

LANXESS

Lonza

Lotte Fine Chemical Co., Ltd

Novonesis Group

Arkema

Solvay S.A

Evonik Industries

Boehringer-Ingelheim

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Packaging Adhesives Market - Forecast (2024-2030)

Packaging Adhesives Market Overview

Packaging Adhesives Market Size is forecast to reach $ 18685.2 Million by 2030, at a CAGR of 6.20% during forecast period 2024-2030. Adhesives are the essential components in paper and packaging industries including flexible packaging and rigid packaging. Currently, the packaging industry is gaining traction due to the increase in the need for appealing design and consumer inclination toward innovative print and packaging along with sustainability. Thus, the companies involved in manufacturing packaging adhesive are inclined more toward the production of a sustainable product with durability. The major type of packaging adhesives includes water-based and solvent-based adhesives. Significant growth in e-commerce industries is increasing the need for packaging which is further boosting the demand for packaging adhesives. According to UPM Specialty Papers, US e-commerce grew and represented 16.1% of total retail spending in 2020, which was 10.7% in 2019. Packaging Adhesives provide shorter setting time, superior viscosity and durability and offer visual appeal to the final product.

Report Coverage

The “Packaging Adhesives Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Packaging Adhesives industry.

By Type: Water-based, Solvent-based, Hot Melt Based and Others.

By Packaging Type: Flexible Packaging, Semi-Rigid Packaging and Rigid-Packaging.

By Adhesive Chemistry: Epoxy, Acrylic, Polyurethane, Polyvinyl Acetate (PVA), Polyacrylic Ester (PAE), Ethylene Vinyl Acetate (EVA), Phenolic, Polyamide and Others.

By Application: Folding Cartons, Boxes & cases, Labeling, Laminating Film, Corrugated Boxes, Paper Bags and Others.

By End-use Industry: Food and Beverages (Frozen Foods, Meat, Poultry and Seafood, Ready Meals, Dairy and Cheese, Alcoholic Beverages, Non-Alcoholic Beverages and Others), Cosmetics and Personal Care (Skin Care, Hair Care, Oral Care, Perfumes and Others), Healthcare (Pharmaceutical, Medical Devices and Others), Automotive (Passenger Cars, Light Commercial Vehicle and Heavy Commercial Vehicle), Consumer Goods, Electrical and Electronics and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and Rest of the World (the Middle East and Africa).

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Key Takeaways

The significant increase in demand for water-based packaging adhesive owing to its low environmental impact is expected to provide a significant growth opportunity to increase the Packaging Adhesives Market size in coming years.

The notable growth in the food & beverages and personal care & cosmetic industries is driving the growth of the Packaging Adhesives Market. According to statements by Shiseido, in the first half of 2021, the company’s cosmetics sales were US$61.9 million, showing a 21.1% increase compared to US$51.1 million in 2020 first half.

Increase in demand for Packaging Adhesives in a wide range of applications such as packaging of boxes, cartons, paper bags and corrugated boxes is providing ample growth opportunities for the industry players in near future in the Packaging Adhesives industry.

Packaging Adhesives Market Segment Analysis – by Type

The water-based segment is expected to grow at the fastest CAGR of 7.7% during the forecast period in the Packaging Adhesives Market. Packaging adhesives play a remarkable role in the paper and packaging industry and can be used for laminating paper, lining food packages and gluing labels. The types of packaging adhesives include water-based, solvent-based, hot melt and others. Water-based adhesives are growing in popularity as manufacturers are more inclined toward producing sustainable products with lesser environmental impact. This type of adhesive comprises water as their carrier and provides strength and consistent bonding. Also, these are considered safe adhesives for food-related applications. It can be used in a wide range of packaging types including flexible packaging. Moreover, these adhesives are extensively used for their stability and consistency. Thus, several benefits associated with the use of plastic packaging adhesives are boosting the growth and are expected to account for a significant share of the Packaging Adhesives Market share.

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Packaging Adhesives Market Segment Analysis – by End-use Industry 

The food and beverages segment held the largest share of 22% in the Packaging Adhesives Market in 2021. Packaging adhesives offer superior bonding and adhesion to paper, paperboard, plastic and others. Water-based and hot melt adhesives are considered safe for use in a range of food and beverage packaging applications. Furthermore, these adhesives are also used in the packaging of meat, cheese, vegetables, condiments and milk products. These adhesives meet several FDA regulations required for food packaging. The suitable use of adhesives in food packaging help to ensure the safety of food and beverages, protect them and keep them fresh for a longer period of time. As per the US Food and Agriculture Organization, world meat production reached 337 million tonnes in 2019, up by 44% from 2000. Thus, the increase in demand for food applications is boosting the market growth of the Packaging Adhesives Market.

Packaging Adhesives Market Segment Analysis – by Geography

Asia-Pacific held the largest share of 40% in the Packaging Adhesives Market in 2021. This growth is mainly attributed to the rising population, rising packaged food trends, growth of the cosmetic and personal care industry, a surge in the production of electrical and electronics and other factors in the region. Growth in urbanization and increase in disposable income in this region has further boosted the consumption of packaged food. Furthermore, packaging adhesives play an important role in the packaging of several products and are widely used in industrial purposes such as automotive, consumer goods, healthcare and others. The growth in food production in this region has also boosted the demand for packaging adhesives in this region. As per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide, with Japan & Korea producing 16%. Thus, the significant demand from end-use industries in this region is also boosting the growth of the Packaging Adhesives Market.

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Packaging Adhesives Market Drivers

High demand for packaging in food applications:

Packaging Adhesives have rising demand in the food industry. The types of packaging such as flexible, rigid and semi-rigid packaging can be extensively used in the food industry. Packaging plays a crucial role here in the packaging of frozen food, meat, poultry and seafood, ready meals, dairy products and many others. Adhesives are utilized to keep the packaging in a place and closed. They create a good bond between the two surfaces which helps in keeping the food fresh for a longer period of time. Thus, the surge in demand from the food industry is boosting the packaging adhesive market growth. According to the India Brand Equity Foundation (IBEF), the packaging industry in India is expected to reach USD 204.81 billion by 2025, with food processing being the largest packaging consumer. With the growth in the food processing sector, the demand for packaging adhesives is expected to surge in near future. Thus, the high demand for packaging in food packaging is propelling the growth and is expected to account for a significant share of the Packaging Adhesives Market size.

Growth in the personal care and cosmetic industry:

Currently, the cosmetic and personal care industry is growing significantly with the consumer inclination toward self-care and a surge in disposable income. These products are mainly available in the health and beauty departments of drug and department stores. Major products such as shampoo, gels, deodorants and other make-up products are mainly identified due to their attractive packaging. Also, the availability of these products on e-commerce platform further demand packaging solutions. Thus, the growth in demand for packaging boosts the need for packaging adhesives. As per the Personal Care Association of Europe, in 2020, skincare products with a valuation of US$23.74 billion value, held the maximum share of the European cosmetics market in major countries like Germany, France, the UK, Spain and Italy. Thus, the growth in the personal care and cosmetic industry driving the Packaging Adhesives Market.

Packaging Adhesives Market Challenges

Disadvantages associated with the use of packaging adhesives:

The demand for packaging adhesives is increasing with the surge in demand for flexible, rigid and semi-rigid packaging in a wide range of applications. The companies are also involved in the production of environmentally friendly adhesives. However, these adhesives are subjected to a few disadvantages which may impact their demand. Few types of adhesives stay on the surface of packaging and end up creating a bond line, reducing the aesthetic appeal of the product. The adhesive that bonds too quickly need to be applied correctly the first time otherwise hamper the look of the product packaging. The selection of suitable adhesives is important considering the weather condition. Thus, the aforementioned factors may hamper the market growth.

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Packaging Adhesives Industry Outlook

The top 10 companies in the Packaging Adhesives Market are -

Arkema (Bostik)

The Dow Chemical Company

Lubrizol Corporation

Henkel AG & Co. KGaA

HB Fuller

3M Company

Avery Dennison

Huntsman Corporation

Wacker Chemie AG

Jowat AG

Recent Developments

In May 2022, Henkel launched a new RE range of adhesives and coatings which are specifically designed for recycling and enable the creation of sustainable flexible packaging at the design phase.

In February 2022, Arkema announced the acquisition of Ashland Inc’s performance adhesives business. Ashland provides pressure-sensitive adhesive for decorative and protection purposes. The company offers a wide range of adhesives for flexible packaging.

In December 2021, Arkema announced the acquisition of Permoseal in South Africa, one of the major players in adhesive solutions for packaging, woodworking and construction. This would help the company to expand its presence in South Africa.

Key Market Players:

The Top 5 companies in the Packaging Adhesives Market are:

Henkel AG & Co., KGaA.

Dow Chemical

H.B. Fuller

Lubrizol Corporation

3M Company

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Coating Materials Market - Forecast(2025 - 2031)

Coating Materials Market Overview

Coating Materials Market Size is forecast to reach $ 200849.90 Million by 2030, at a CAGR of 4.60% during forecast period 2024-2030. Coating has mostly double uses to protect the substrate and to be decorative. The most common use of coating items is to avoid corrosion of steel and concrete. Another common usage is to make the material less fire or other hazards sensitive. Increasing use of coating materials in various end use industries due to its critical properties and to create a protective barrier against deterioration of the surface in reaction with its environment will further accelerate the growth of Coating Materials Industry in the forecast era.

Report Coverage

The: “Coating Materials Market Report – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Coating Materials Industry.

By Material Type: Pure Metals, Alloys, Ceramic (Oxide), Cermets, and Pseudo Alloys 

By Coating Type: Organic Coatings and Inorganic Coatings

By Thinner Type: Mineral Spirits, Aromatics, Ketones, Alcohols and Water 

By End Use: Automotive Industry, Architectural Industry, Electronic Industry, Food & Beverage Industry, and Marine Industry 

By Geography: North America, Asia Pacific, Europe, Middle East & Africa, and South America

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Key Takeaways

Asia Pacific dominates the coating materials market due to its increasing use of organic coatings as corrosion protection in architectural Industry.

Rising demand in the food & beverage industry for fresh and uncontaminated food will propel the market growth for coating materials during the forecast period.

Solvents along with essential properties can also bring negative qualities such as toxic effects of emitted organic solvents which in the immediate future can create hurdles in the market development.

Coatings sector faced the prospect of a deep recession triggered by the effects of lockdowns slowing the spread of the novel corona virus (COVID-19) across most of the world. Many stores were shut down and consequently, the market for coatings practically plummeted in many places for a period of time.

By Material Type - Segment Analysis

Pure metal is widely used in Coating Materials Market. An unprotected metal can rust and corrode due to environmental exposure owing to which coating is applied to metal in order to protect the metal and reduce wear and tear. Coating provides supplementary layer of protection to the metals. A number of coatings that is to be added to metal, and the choice of which type of coating to add is determined by the end use of the metal product. Some types of metal coatings are intended to remove rust, corrosion, dirt and debris from the metal. This is important for outdoor equipment applications, such as warships, heavy machinery, cars, trains, and aircraft. In the working process all of these are exposed to a number of agents that may be harmful, such as gasoline, grease, lubricants and soil. Pure Metal coating prevents corrosion and oxidation. Without a protective surface, the liquids and chemicals to which it is regularly exposed will easily harm the metal of a train or vehicle. Coating the metal protects it from these pollutants, thereby producing a product that is more durable and which lasts longer. Hence, demand of coating materials is foreseen to increase over the forecast era.

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By Coating Type - Segment Analysis

Organic Coating held the largest share in Coating Materials Market in 2019.Organic coatings act as a corrosion barrier between the underlying metal and the corrosive environment. Organic Coating preserves structural stability and provides weather protection, humidity, abrasion, chemical resistance, resilience and cosmetic appearance. Organic coatings are also thick and durable. This coating is focused on carbon containing materials which are usually extracted from refined and modified petroleum products, as well as various solvents, pigments, additives and fillers. Growing demand for organic coatings to be applied to the surface of many materials, such as metals, woods, plastics and concrete, is anticipated to increase the market for coating materials in the near future in order to improve their surface properties as well as shield them from the effects of the environmental factors.

By Thinner Type -Segment Analysis

Mineral Spirit is the most commonly used thinner in the Coating Materials Market. Mineral spirit is a distilled, petroleum-based solvent that improves effectiveness while reducing odor, volatile organic compounds (VOCs), and toxicity overall. Mineral spirit has sufficient characteristics of flash point and instability, due to which these materials are ideal for use as a solvent and paint thinner. The mineral spirit is commonly used by art professionals as a replacement for turpentine for art thinning and paint brushes cleaning. Owing to low cost, and less offensive odor, mineral spirit is used for paint thinning. Mineral spirit is also used for machine washing and degreasing, and acts as a lubricant for reaming of screw threads. Also, Mineral spirits are excellent for the cleaning of painting rollers, brushes, and paint guns. It often aims to lower the viscosity of solvent-based coatings.

By End Use- Segment Analysis

The architectural industry held the largest share in the Coating Materials Market in 2019 and is projected to grow at a CAGR of 4.60% during the forecast period 2024-2030. Coating materials are one of the most commonly used construction materials and are the focal point of many people employed in this field. It is constantly being built by many researchers and architectural developers to achieve the sustainability dimension inside the buildings. Construction and maintenance of buildings and structures require a large number of coating materials. Architectural and decorative coatings are the largest market of coating materials. Coating materials are used in the architectural industry for different building environments and act as a protection for exterior walls, internal walls, ceilings, floors, and roof.

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Geography- Segment Analysis

Asia Pacific held the largest share with 44% in Coating Materials Market in 2023. Countries such as China, India, Japan, and South Korea are expected to lead the coating materials market, with China accounting for the largest share in the regional demand for coating materials. According to the National Development and Reform Commission and transport ministry in China, under the 13th five-year plan (2024-2030), the Chinese government is planning for infrastructure development of 30,000 km of railway lines and 30,000 km of expressways. Also, according to India Brand Equity Foundation, the Indian government has declared a target of US$ 1.4 trillion on infrastructure in the next five years, including USD 120.5 billion for developing 27 industrial groups, and Indian Railways received allocation under Union Budget 2020-21 at Rs 72,216 crore (US$ 10.33 billion). Hence, all these factors will propel the growth of the market in the forecast period.

Drivers –Coating Materials Market

Increasing use of coatings in electronics

Coatings may be functional, providing electrical, magnetic, optical, mechanical or thermal functions, it may be used in the manufacture of assist coatings, such as those used in the manufacture of circuit boards, which may be protective or decorative. Photo resists, inks or screen able resists, and solders all serve as coatings for the manufacture of microelectronic components such as circuit boards and integrated circuits. Under more strict conditions, electronic coatings are used in a broader variety of coating widths and densities than traditional coatings. In specified clean rooms, both continuous and discrete coating methods’ employing a variety of solvents issued. Also, the importance of polymeric conformal coatings to protect printed circuit boards (PCBs) against functional retardants such as dust, corrosion, moisture and variation in temperatures will lead towards the increase in use of coating materials in electronics sector during the forecast period.

Increasing demand of coatings for food and beverages

Canned foods and drinks are a major part of the global food supply. Consumers expect canned foods and drinks to preserve their taste, texture and color, and to be free from disease-causing pathogens. This is usually achieved by covering with protective resins in the interiors. Food and beverage cans retain their filling flavor and nutritious values for up to many years. Usually, cans are covered with an organic coating that protects the can integrity from contamination effects and prevents chemical reactions between the can's metal and the product.In order to meet the technical and legal requirements, coatings can withstand production and sterilization processes which can be universally applicable to all types of food and beverage. Coating prevents chemical migration of food in quantities that endanger human health and adhere to the can even after unintentional deformation. In addition, it also resists aggressive food types and protects the metal of the can and preserves the metal of the can.

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Challenges –Coating Materials Market

Effects of solvents in coating

Solvents remove or dissolve the binders and reduce the viscosity and thickness of the coating. Solvents used in formulations of coatings are harmful because they are human carcinogens and are either flammable or explosive. Most solvents used in a coating evaporate when the coating cures, which creates emissions of volatile organic compounds (VOC). Given the adverse effects on human health and the atmosphere, volatile organic compound (VOC) emission is increasingly being monitored. A driving force for creating alternatives to emissions control is environmental issues associated with traditional materials, coating application techniques, and coating wastes. Due to these reasons, solvent will create hurdle for the coating materials market in the forecast period.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Coating Materials Market. In 2023, the market of Coating Materials Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Coating Materials Market AkzoNobel N.V., PPG Industries Inc., The Sherwin Williams Company, Axalta Coating Systems, KANSAI PAINT CO., LTD., Nippon Paint Holdings Co. Ltd., JOTUN, RPM International Inc., Tiger Drylac U.S.A. among others.

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Alkyl Amines Market - Forecast 2024-2030

 Alkyl Amines Market Overview

Alkyl Amines Market Size is forecast to reach $ 9079.6 Million by 2030, at a CAGR of 6.20% during forecast period 2024-2030. Alkyl Amine is a versatile class of compound used in organic synthesis. The surging uses of alkyl amines across various applications like solvents, pesticides, feed additives, rubber processing chemicals, and water treatment chemicals are driving the growth of Alkyl Amines Market. Increase in the retail sector and prospering e-commerce industry is demanding for more packaging material that is influencing the significance of the Alkyl Amines Market. Whereas, the growing consumption of solvents from infrastructure and automotive sector further drives the demand for Alkyl Amines during the forecast period. Furthermore, growing demand of alkyl amines from the agriculture industry as a pesticide is also driving the market growth.

Report Coverage

The report: “Alkyl Amines Market – Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Alkyl Amines Market.

By Type: Methylamines, Ehylamines, Butylamines, Propylamines, Amylamines, Cyclohexylamines and Others

By Process: Alcohol-amine reaction, Aldehyde-amine and ketamine hydrogenation reaction, Ritter reaction, and Others

By Application: Rubber Processing, Agrochemicals, Wastewater Treatment, Feed and food additives, Pharmaceuticals, Paper Chemicals, Surfactant, and Others

By Geography: North America, South America, Europe, APAC, and RoW

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Key Takeaways

In the Latin America region, Brazil is the major market for the alkyl amines owing to upsurge in the purchasing power of consumers and rise in corn, wheat, and sugarcane production and consumption across the country further drive the demand for Alkyl Amines. 

Stringent government regulations and harmful effects of alkyl amines acts as a hindrance to the overall market growth.

Unstable economic condition, high transportation and maintenance cost of alkyl amines also cause major hindrance to the overall market growth.

Surging innovations in the pharmaceutical application is expected to provide new opportunities to growth of major market participants.

Alkyl Amines Market Segment Analysis - By Type

The propylamines segment is projected to witness the highest CAGR of 8.2% during the forecast period owing to the rising demand for propylamines from various end-use industry like pharmaceutical, petroleum, and plastic. As, propylamines acts as a regulating agent for plastics and an additive in the petroleum industry. In addition, it is also acting as an intermediate for pharmaceuticals, coating materials, and rubber chemicals. Thus, the growing investments in the pharmaceutical industry and developing petroleum industry in emerging nations like China and India further propels the demand for propylamines, which in turn drive the growth of this market.

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Alkyl Amines Market Segment Analysis - By Process 

The Ritter reaction segment is projected to witness the highest CAGR of 7.8% during the forecast period owing to its optical clarity and biocompatibility characteristics. The Ritter reaction is an organic reaction process that transforms a nitrile into an N-alkyl amide by using various electrophilic alkylating reagents. Whereas, the growing uses of Ritter reaction process in the formation of amines and amides of pharmaceutical use is expected to drive the market growth.

Alkyl Amines Market Segment Analysis - By Application

The solvent segment held the largest share of more than 30% in the global market in 2020. The growing uses of methylamine-based solvents for the production of C1-C6 alkyl amines drive the market growth. As these alkyl amines are used across various applications like rubber processing, water treatment, and feed additives. Furthermore, the surging consumption of C1-C6 alkyl amines in the agrochemical sectors as pesticide further drive the market growth. Whereas, growing uses of solvents for the production of spandex, polyurethane elastomers, and polyimide films further contribute to the market growth.

Alkyl Amines Market Segment Analysis - By Geography

Among the regions, the APAC region held the largest share of more than 45% in 2020 and is projected to witness the highest CAGR of 8.5% in the Alkyl Amines Market followed by North America and Europe during the forecast period. The growing disposable income, rise in population, and growing water treatment activities and surfactants propel the growth of this market in the APAC region. Furthermore, the growing demand for dimethylformamide (DMF) form electronics industry for the manufacturing of printed circuit boards majorly in China, Taiwan, South Korea, and Japan further drives the growth of this market across the country during the forecast period.

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Alkyl Amines Market Drivers

Growing wastewater treatment plants globally

Alkyl amine is an effective surfactant that can act as biocides due to their ability to kill microorganisms. Alkyl amine also enhance the biocidal effect of chlorinated phenolic when they are applied in water. The use of alkyl amines improves the water quality and also acts as resistant to corrosion due to its property of oxygen scavenging. The growing wastewater discharge into the waterways where it creates health, environmental and climate-related hazards further drive the demand for water treatment plants. Whereas, the growth of wastewater treatment plants in the developed and developing regions drive the market growth. For instance, in 2019, in India, Delhi Jal Board awarded SUEZ the contract to build and operate a wastewater treatment plant with a capacity of 564,000 m3/day amounting a value of €145 million (around US$196 million). Moreover, in 2019, the South African Government has released 341 million Rand ($24.3 million) to rehabilitate several wastewater treatments plants in Mpumalanga province. Thus, the developments in wastewater treatment activities globally also turn drive market growth.

Alkyl Amines Market Challenges

Harmful effects of alkyl amine and high maintenance cost 

Exposure to alkyl amines is corrosive to the eyes, skin, and lungs. Moreover, the toxic nature of Alkylamines further incurs high maintenance and transportation costs. The harmful effects and high cost of alkyl amine acts as a challenging factor to the market growth. Additionally, fluctuating prices for raw materials and foreign currency can directly impact the overall market growth of alkyl amines. As Ethyl alcohol, ammonia and factory gasses are the primary raw materials used in the production of alkyl amines.

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Emergence of COVID-19 the Pandemic

The pandemic is affecting operations of various industries such as agriculture, oil and gas, construction, packaging, and others. As, Alkyl Amines products are extensively used in these industries, the declining operations of these industries is directly affecting Alkyl Amines Market growth. Moreover, it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021 and will have its major impact on the economy and global trade volume. According to World Trade Organization (WTO), global trade volumes are projected to decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19. 

Alkyl Amines Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Alkyl Amines Market report. In 2020, the market of Alkyl Amines top 10 companies accounting for xx% of the share. Major players in the Alkyl Amines Market industry outlook is Taminco, Eastman Chemical Co., BASF SE, DuPont, Arkema, Luxi Chemical Co., Ltd., Feicheng Acid Chemicals Co. Ltd., Shandong Huala Hengsheng Chemical Co. Ltd., Koei Chemical Company, Mitsubishi Gas Chemical Company, and Alkyl Amines Chemicals Ltd., among others. 

Acquisitions/Technology Launches

In November 2019, Alkyl Amines Chemicals Limited decided to sell Company's 29,77,996 equity shares representing 30.44% stake in associate company, Diamines and Chemicals Limited (Diamines).

In November 2019, Eastman Chemical Co. announced to increase the capacity for alkyl amines to meet growing global demand from various end markets such as home and personal care, water treatment, and animal nutrition.

Key Market Players:

The Top 4 companies in the Alkyl Amines Market are:

BASF SE

Dow Inc.

Evonik Industries AG

Solvay SA

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Nanotechnology Drug Delivery Market - Forecast(2025 - 2031)

Nanotechnology Drug Delivery Market Overview

Nanotechnology Drug Delivery Market size is estimated to reach $171470 Million by 2030, growing at a CAGR of 10.80% during the forecast period 2024-2030. 

The rising chronic diseases across the world are expected to surge the demand for the Nanotechnology Drug Delivery Market. Nanomedicine and nano drug delivery frameworks are a moderately new yet quickly surging science where materials in the nanoscale range are utilized to act as methods for analytic instruments or to convey therapeutic agents to specifically designated destinations in a controlled way. Nanotechnology offers various benefits in treating ongoing human sicknesses by site-specific and target-arranged delivery of exact drugs. Recently, there are various exceptional applications of nanomedicine (chemotherapeutic agents, biological agents’ specialists, immunotherapeutic agents and so on) in the treatment of different infections. During the Coronavirus pandemic, most drug organizations and legislative authorities were endeavoring to give viable clinical treatment to Coronavirus patients and drug delivery systems were supposed to have a significant part in this. 

Nanotechnology Drug Delivery Market Report Coverage

The report: “Nanotechnology Drug Delivery Market Forecast (2024-2030)" by IndustryARC, covers an in-depth analysis of the following segments in the Nanotechnology Drug Delivery Market.

By Technology: Nanocrystals, Nanoparticles, Liposomes, Micelles, Nanotubes and Others.

By Application: Neurology, Oncology, Cardiovascular, Immunology, Anti-Infective and Others.

By Geography: North America (the U.S., Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

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Key Takeaways

Geographically, North America held a dominant market share in 2022. I is due to a robust medical infrastructure supported by excellent insurance coverage across the geographies and a higher tendency of the population to seek medical attention which increases the use cases of Nanotechnology Drug Delivery.

A growing geriatric population supported by the rising research on the subject along with a heavy rise in investment to modernize the world healthcare infrastructure are some of the recognized drivers of the Nanotechnology Drug Delivery Market.

A detailed analysis of the strengths, weaknesses, opportunities and threats would be provided in the Nanotechnology Drug Delivery Market Report.

Nanotechnology Drug Delivery Market Segment Analysis - by Technology

The Nanotechnology Drug Delivery Market based on technology can be further segmented into Nanocrystals, Nanoparticles, Liposomes, Micelles, Nanotubes and Others. The nanoparticles segment held a dominant market share in 2022. The industry is surging with momentum because of the growing investments in drug research in developing countries of the world. Developing exploration and advancement exercises in the nanoparticle examination field, monetary sponsorship from public-private organizations and ascend in Research and development moving to China by worldwide drug and biopharmaceutical organizations are further upgrading the market interest. The rising yearly expenditure of the biopharmaceutical area all over the world is driving the reception of nanoparticles. However, the Nanotubes segment is estimated to be the fastest-growing area, with a CAGR of 11.6% over the forecast period of 2023-2028. It is due to the soaring use of botulinum toxins in children since it eases the pain faster.

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Nanotechnology Drug Delivery Market Segment Analysis - by Application

The Nanotechnology Drug Delivery Market based on applications can be further segmented into Neurology, Oncology, Cardiovascular, Immunology, Anti-infective and Others. Oncology dominated the market in 2022. According to the American Cancer Society, the estimated number of new cancer cases and deaths in 2021 were 1.9 million and 608,570, respectively. Provocative pathways Nanoparticles (NPs) are a kind of medicine transporter that is normally under 100 nm in size and can target growth areas while limiting off-target impacts. Besides, NPs can invigorate natural and adaptive immune systems in the tumor microenvironment (TME), prompting a disease-battling resistant reaction. However, the cardiovascular segment is estimated to grow the fastest, with a CAGR of 11.7% over the forecast period of 2023-2028.

Nanotechnology Drug Delivery Market Segment Analysis - by Geography

The Nanotechnology Drug Delivery Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share in 2022 and is estimated to be growing at a CAGR of 38% over the forecast period of 2023-2028. The North American region is spending capital on research and development of novel technologies such as Nanotechnology. Countries such as the U.S. launched plenty of initiatives to utilize the technology on larger commercial scales. The National Nanotechnology Initiative is one such initiative. It is a research and development initiative that provides a systematic framework for coordination between research and nanoscale resources among the national federal government and departments. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, since the whole region is undergoing a phase of high development. The countries such as India and China are adopting such technologies faster than ever.

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Nanotechnology Drug Delivery Market Drivers

Various Advantages Offered by Nanotechnology Drug Delivery:

The major benefits of nanoparticles are further developed bioavailability by upgrading fluid dissolvability, increasing resistance time in the body, expanding half-life for clearance/expanding explicitness for its related receptors and focusing drug to an explicit area in the body (its site of activity). This results in a decrease in the amount of the medication required and dosage toxicity, empowering the protected delivery of harmful remedial medications and the security of non-target tissues and cells from serious secondary effects. It is progressively utilized in various applications, including drug transporter frameworks and to pass organ barriers, for example, blood-cerebrum obstruction, cell film and so on. 

Rising Cases of Cancer Across the World:

Cancer is the second leading reason of death around the world. It was also the cause of 10 million deaths in 2020. Low-and-middle-income countries shoulder the majority of the cancer trouble. In 2020, out of almost 10 million cancer-related deaths around the world, 70% were in low-and-middle-income countries. The dissimilarity is significantly striking in the event of cervical cancer where 90% of new cases and deaths from this preventable cancer happens in low-and middle-income countries. Cancer occurrence in sub-Saharan Africa, for instance, is projected to increase by over 92% between 2020 and 2040.

Nanotechnology Drug Delivery Market Challenges

Various Challenges Encountered During Research:

The use of Nanotechnology in Drug Delivery is surely a method with high efficiency, but some of the nanomedicines are complex. Applications based on a combination of agents and targeting systems that are stimuli guided seem advantageous, but some of the researchers suggest that a more critical evaluation of individual components might uncover problems in the characterization and relevance of a few components which might pose a serious threat to the complete adoption of Nanotechnology in Drug Delivery market.

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Key Market Players

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Nanotechnology Drug Delivery Industry. The top 10 companies in the Nanotechnology Drug Delivery Market are:

Taiwan Liposome Company

NanOlogy

Novartis International AG 

Bristol-Myers Squibb Company

Integrated Nanotherapeutics

Recent Developments

In June 2022, A team of researchers from Ohio University found that while high measures of these DNA devices can cause a slightly resistant reaction, it isn't sufficiently stamped to be hazardous.

In June 2022, researchers from Baker Heart and Diabetes Institute planned and fostered an exceptional nanoparticle drug delivery innovation that can recognize and regard different sicknesses as well as significantly work on the viability of a medication used to treat atherosclerosis.

In January 2022, Scientists at Penn Medicine found a new, more powerful technique for keeping the body's own proteins from treating nanomedicines like unfamiliar intruders, by covering the nanoparticles to smother the insusceptible reaction that hoses the treatment's viability.

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Flour Market - Forecast(2025 - 2031)

Flour Market Overview

Flour Market size is estimated to reach $198.7 billion by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Flour can be delineated as powder produced from the fine grinding of various raw grains and starchy parts of crop plants. Whole wheat flour, wheat flour, rice flour, and maize flour are the prime examples of flours largely used across the globe. Flour is the main ingredient in the preparation of staple food like bread, confectioneries, bakeries, and fast foods like noodles & pasta. Flour is deemed to be a health-friendly choice because of the presence of a lower amount of fat and cholesterol. Additionally, flour is a sound source of vitamins, minerals, and carbohydrates. Whole wheat flour is known to aid digestion, prevent obesity, ensure the health of skin and hair, lower the risk of chronic inflammation and heart illnesses, and regulate PMS symptoms. On another hand, owing to the high content of oleic acid (i.e., around 32.6%), chickpea flour maintains brain health by producing myelin, preventing free radicals' oxidative damage, condensing blood sugar levels, and many more. Also, the wholesome balance of protein-forming molecules that is, amino acids and sugar molecules (complex carbohydrates) has designated chickpea flour as a handy constituent for the food industry. The overwhelming increase in the world population, changing tastes and preferences of people, rapid urbanization, surging demand for RTE foods, soaring health attentiveness among consumers, rising GDP per capita incomes, bettering retail infrastructure, state-of-the-art marketing techniques adopted by the players in the market are factors set to drive the growth of the flour market for the period 2022-2027.

Report Coverage

The report: “Flour Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Flour Market.

By Type: Maize, Wheat, Rye, Oat, Rice, Chickpea, and Others.

By Applications: Food (confectionery, bakery, fast foods, and others), Feed, and Others.

By Distribution Channel: Offline (Supermarkets, Hypermarkets, Convenience stores, Brick-and-Mortar, and Others), E-commerce services.

By End User: Households and Foodservice providers.

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

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Key Takeaways

Geographically, the Asia-Pacific Flour Market accounted for the highest revenue share in 2021. The growth is owing to unforeseen production of rice, wheat, chickpea, and maize in Asian countries like India, China, and Indonesia, high population, a high number of vegetarians, and soaring GDP per capita incomes.

Widescale urbanization, growing popularity of RTD food because of eventful lifestyles of people, extensive proliferation in the prevalence of chronic health complications, budding growth of the confectionery and bakery industry, and changing tastes and preferences of consumers are the factors said to be preeminent drivers driving the growth of Flour Market. rising concern over environmental calamities, sudden rise in inflation, and widening demand and supply gap because of tragic events like Covid-19 and the Russia-Ukraine conflict are said to reduce the market growth.

Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Flour Market report.

Flour Market Segment Analysis-By Application

The Flour Market based on the application can be further segmented into food (confectionery, bakery, fast foods, and others), feed, and others. The food segment held the largest share in 2021. The growth is owing to the tremendous use of flour in the preparation of foods especially confectioneries and bakery items. It is used in the preparation of fluffy pancakes, chewy cookies, bread, flaky pie crusts, and plenty of other food items. Rice flour a significant role in gluten-free pasta, infant jars, soups, pate, battering and breading, and puffed cereals. Nevertheless, owing to the mild and nutty taste of chickpea, it has made its way into traditional Indian dishes such as fritters, samosas, and many other special desserts. Moreover, gram flour (chickpea) is taken into consideration as a natural thickening agent in curries. Furthermore, the food segment is estimated to be the fastest-growing with a CAGR of 5.6% over the forecast period 2022-2027. This growth is owing to the soaring demand for processed and RTE foods and the rising living standards of people in low-income countries.

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Flour Market Segment Analysis-By Distribution channel

The Flour Market based on distribution channels can be further segmented into offline (supermarkets, hypermarkets, convenience stores, brick-and-mortar, and others), e-commerce services. The offline segment held the largest share in 2021. The growth is owing to several advantages of offline retail outlets such as they build up a personal touch between consumers and businesses. Therefore, consumers always love to shop on offline platforms. Moreover, they offer consumers the option to actually touch and feel the products at the time of purchase, therefore, consumers can find out concealed defects if any. Additionally, instant purchase and sales assistance features of offline retail facilities gravitate consumers toward them. Furthermore, in an attempt to tap the untouched potential, modern stores are finding their way into some pastoral areas too. The E-commerce segment is estimated to be the fastest-growing with a CAGR of 4.7% over the forecast period 2022-2027. This growth is owing to traveling restraints because of the rising trend of work-from-home jobs, rise in tech-friendly population, swift internet penetration in pastoral areas, and several conveniences associated with e-commerce purchases.

Flour Market Segment Analysis-By Geography

The Flour Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-pacific held the largest share with 42% of the overall market in 2021. The growth in this segment is owing to the factors such as the presence of the largest grain-producing countries like India, China, and Indonesia. Asia is known for overwhelming wheat cultivation which ensures a non-stop supply to the food industry. In 2020, China’s produced 134 million metric tons of wheat; whereas, India’s total wheat production stood at around 107 million metric tons. Nevertheless, China, India, Indonesia, and Bangladesh are the 4 largest rice producers in the world with a collective annual capacity of more than 330 million metric tons. Additionally, every year India produces nearly 8 million tonnes of garbanzo which is around 68-70% of total world production. Whereas, being the 2nd biggest producer, Australia has over 10% share in chickpea production. Moreover, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to a rise in disposable income, accelerating population, bettering retail infrastructure, rise in internet users prompting e-commerce industry, and swift urbanization because of extensive migration of people from rural areas to urban centers.

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Flour Market Drivers

Soaring vegetarianism and health benefits accompanied by flour products’ consumption are anticipated to boost product demand.

Grain flour is a powerhouse of vitamins, minerals, and carbohydrates, therefore, extends several health benefits. Many health experts believe that proper intake of whole-grain flour can lower the risk of chronic illnesses like cancer. A report by the National Institute of Health (NIH), one thing common in 20 to 98 percent of incidences of heart failure is substandard thiamine status. Many studies suggest that a cup of flour can provide around 95.4 grams of carbohydrates, 12.9 grams of protein, 1 gram of thiamine, 42.4 mcg of selenium, and more than 200 mcg of folate. As a result, flour is becoming an inextricable part of people's diets worldwide. On another rising vegetarianism is providing fairgrounds for the flour market to flourish. According to a survey, nearly 20 to 22 percent of the total world population follows vegetarianism as of 2022.

Growing population, improving quality of life in low-income nations, and conveniences of easy buying are expected to boost the market growth

The world population is rising astoundingly. In the last decade, the overall population has ascended from 6.9 billion to 7.9 billion, and the figure is anticipated to reach 9.7 billion by the year 2050. Therefore, the overall demand for food production has witnessed a sweeping jump. On another hand, the rising living standards of people in low-income countries like India, China, Indonesia, Bangladesh, and Others is another prominent factor behind the market expansion. China’s GDP per capita income was recorded at $12,551 in December last year. Similarly, Bangladesh's GDP per capita (PPP terms) was whirling around $5,733; whereas, Indian GDP per capita (PPP terms) was $7319. On another hand, the growing presence of modern retail outlets and growing internet users are casting votes in favor of the aforementioned market.

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Flour Market Challenges

Environmental calamities and plummeting organic content of the soil are anticipated to hamper the market growth.

In a blind race for economic prosperity, countries across the globe are undermining the security of this planet by overexploiting environmental resources. Trees are being cut and rivers are being diverted from their natural courses. Owing to soil erosion stimulated by massive deforestation, the agricultural land is shrinking. Moreover, augmenting environmental temperature is resulting in severe floods and reducing the overall yield of crops. In addition to that, rising food prices because of the widening demand and supply gap, sky-rocketing prices of crude oil, and the sanctions imposed on the Russian Federation in the view of ongoing conflict are putting extra weight on consumers' pockets. On another hand, plummeting fertility of soil as organic content is contracting because of extensive fertilizers use. According to a Soil Health Survey, poor soil health is posing a creeping disaster in India. A survey claimed that more than 50% of Indian soil has a dearth of nitrogen and over 40% is lacking essential organic carbons and phosphorous.

Flour Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Flour market top 10 companies include-

Ardent Mills

King Arthur Flour Company

Associated British Foods Plc

Hindustan Unilever Ltd

Archer Daniels Midland Company

Hodgson Mill

ConAgra Foods Inc

Cargill

ITC Ltd

General Mills

Recent Developments

On December 7, 2021, Colorado, United States-based renowned flour-milling company “Ardent Mills” announced the successful acquisition of all business assets of North Dakota, United States-based Firebird Artisan Mills (a miller known for its gluten-free grains). The transaction is aimed at bolstering the nutritional offerings portfolio of Ardent Mills.

On November 16, 2021, Illinois, United States-based food ingredient supplier company "Batory Foods" announced the successful acquisition of US-based "DMH Ingredients", a company known for supplying various food and beverages ingredients. The financials of the deal were not revealed. However, the transaction is anticipated to strengthen the ingredients portfolio of Batory Foods.

On April 13, 2020, Washington, United States-based Continental Mills (a firm known for its bakery products) announced that the company has successfully acquired an Effingham-based facility from a family-owned whole food grains firm “Hodgson Mills.” The acquisition of this 175,000-square-foot facility is anticipated to strengthen Continental’s bakery production capacity.

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PCIe DC-DC Converter Market - Forecast(2025 - 2031)

PCIe DC-DC Converter Market Overview

PCIe DC-DC Converter Market is analyzed to grow at a CAGR of 16.6% during the forecast period 2021-2026 to reach $9.5 billion. PCIe or PCI Express generally refers to a high speed serial computer expansion bus standard that is designed with more advantages in comparison to older standards. PCIe standards are capable of providing benefits including better performance scaling, lower latency, synchronous rectification, pulse amplitude modulation, larger bandwidth support, higher data speeds and so on making it an ideal choice for various application areas like graphic cards, storage devices, network interface cards, and many other high performance peripherals. With rise in data traffic and need for high performance computing devices and integrated circuits, different generation models be it PCIe 5.0, PCIe 4.0 and so on are selected according to end-use requirements. Increasing rate of data center infrastructure growth as well as shift towards advanced technologies including artificial intelligence and machine learning are considered as some of the major drivers impacting the growth of PCIe DC-DC Converter Market. In addition, investments towards advancing telecom communication infrastructure with 5G technology along with rise of adoption in automotive applications like ADAS systems, infotainment systems and so on are further analyzed to fuel the growth of PCIe technology in the long run.

Report Coverage

The report: “PCIe Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the PCIe industry.

By Generation: PCIe 1.0 & 2.0, PCIe 3.0, PCIe 4.0, PCIe 5.0.

By Form Factor: Mini PCIe, PCIe.

By Product: SLC, MLC.

By Output Voltage: Upto 3.3V, 3.3-5V, 5-10V, 10-15V, 15-24V And Above 24V.

By Output Power: Upto 20W,20-50W,50-100W and Above 100W.

By Application: Graphic Processor Units, Network Interface Cards, Storage Device & Controllers, PCIe Switches (Gen 1, Gen 2, Gen 3, Gen 4 and Gen 5), Servers.

By End Users: Telecommunication, Industrial, Residential, Data Centers (Hyperscale, Colocation, Others), Automotive, Infrastructure, Others.

By Geography: North America, South America, Europe, APAC and RoW.

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Key Takeaways

Growing shift towards advanced technologies like artificial intelligence and machine learning along with increasing growth of data center infrastructures is analyzed to significantly drive the PCIe DC-DC Converter Market during the forecast period 2021-2026.

Storage Device & Controllers application segment had accounted for the largest market share in 2020, attributed to the factors including rise of cloud based data storage requirements, infrastructural developments for data centers and so on.

High investments towards research and development activities by some of the key market players such as Samsung Electronics Co. Ltd, Renesas Electronics Corporation and Toshiba Corporation with others have helped in boosting the growth of PCIe across APAC markets.

PCIe DC-DC Converter Market Segment Analysis- By Generation

Based on generation, the PCIe DC-DC Converter Market is segmented under PCIe 1.0 & 2.0, PCIe 3.0, PCIe 4.0 and PCIe 5.0. PCIe 3.0 generation had dominated the PCIe DC-DC Converter Market with 46.5% share in 2020, and is analyzed to grow significantly at a rate of 16.4% during the forecast period 2021-2026. Generation PCIe 3.0 can be referred to as a Gen 3 expansion card comprising of a four-lane configuration, used across some of the major end-use industries be it telecom, data centers and so on. However, with growing advancements towards Gen 4 and Gen 5, adoption of PCIe 3.0 based solutions has been still maintaining a significant growth in the markets, due to its long time presence. Capable of reaching speeds upto 1000 Mbps, PCIe 3.0 architecture incorporate features like enhanced signaling and data integrity, channel enhancements, clock data recovery, pulse amplitude modulation and so on, retaining its market position. Factors including growth in video streaming, video conferencing, online gaming, social networking and many others have surged the internet traffic amidst the COVID-19 pandemic situation, attributing towards the need for PCIe 3.0 interfaces. In addition, usage of PCIe 3.0 has been still in demand owing to rising rate of investments from various key vendors towards developing products with Gen 3 support. In 2020, AMD announced about the launch of A520 chipset, as a part of supporting its third generation Ryzen desktop processors. Through this, the company wanted to help its customers offer a path for future upgrades, based on Zen 3 architecture. Such factors have eventually helped in creating a positive impact towards the deployment of PCIE 3.0 solutions for the end-use markets.

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PCIe DC-DC Converter Market Segment Analysis- By Application

Based on application, Storage Device & Controllers had accounted for the largest share of 32.1% in 2020, analyzed to grow significantly with a CAGR of 15.5% in the global PCIe DC-DC Converter Market during the forecast period. The need for PCIe had evolved in the storage applications overtime with the introduction of technologies namely SATA Express and Non-Volatile Memory Express. With the shift towards ultra thin laptops, tablet PCs and so on, there is significant need towards connectors used in peripheral devices capable of fitting into narrower spaces. In order to address such requirements, PCI-SIG specified the M.2 connectors, thereby gaining it wide popularity. In addition, growing number of investments towards construction of new data centers or upgradation of existing facilities can be considered as some of the major factors attributing towards its market growth owing to rise of cloud based data storage and improved integrated circuits. NVMe and PCIe have been becoming highly popular owing to technological advancements in the field of solid state storage applications. Deployment of PCIe based solid state drives are raising its demand in the markets serving cloud computing requirements, with comparitively higher data transmission as well as high speed connectivity. Owing to these advantages, PCIe had turned as a popular choice among data centers and telecom sectors due to shift towards high-performance computing while storage applications. In 2021, Interface Concept announced about the launch of a removable SSD mass storage XMC module, named IC-EM2-XMCa, capable of supporting PCIe x1/x2/x4 Gen2/Gen3 interface connection. Owing to its capability of increasing storage capacity upto 2TB, as a part of adding mass storage capacity to any third party Single Board Computer or host carrier board, used across VPX, cPCI or VME systems, thus making it suitable for computing as well as storage-intensive applications. Such factors are further set to propel the growth of PCIe within storage devices or controllers in the long run.

PCIe DC-DC Converter Market Segment Analysis- Geography

APAC had accounted for the largest share of 36.5% in 2020, followed by North America and Europe in the PCIe DC-DC Converter Market, analyzed to grow at a rate of 19.6% during the forecast period 2021-2026. Factors including growing demand for cloud computing services, shift of telecom sector towards advancing network or communication infrastructures and many others have acted as some of the major factors attributing to the market growth. Presence of key players such as Renesas Electronics Corporation, Samsung Electronics Co. Ltd, Toshiba Corporation with many others opting for R& D activities overtime have been also helping in creating significant growth of PCIe across the region. In 2020, Samsung announced about the launch of PCIe 4.0 NVMe SSD (solid state drive), named SSD 980 Pro. This development was meant to help professionals as well as consumers opting for high performance PCs, workstations and gaming consoles, also making it an ideal choice for consumers working with 4K or 8K contents or playing high graphic games. High investments towards building data center facilities as well as growing shift towards improving virtualization, high-performance computing, and many others for automotives is further analyzed to drive the market growth in the coming years. In 2020, China revealed about constructing one of the world's highest-altitude cloud-computing data center in Tibet in order to meet data storage requirements for China as well as various South Asian nations including Bangladesh, Nepal and Pakistan. As per Ningsuan Technology Group, an investment of about 11.8 billion yuan (around USD 1.8 billion) has been planned for this project, which will help in providing services such as video rendering, distance-learning data backup, autonomous driving and so on in the long run. Such construction projects related to data centers are set to drive the need for high-speed switches, storage devices, and so on, impacting the market growth of PCIe during the forecast period 2021-2026.

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PCIe DC-DC Converter Market Drivers

Increasing growth towards data center infrastructures:

Increasing growth towards data center infrastructures can be considered as one of the vital factors driving the market growth of PCIe. This growth is significantly impacting the need for high-speed devices capable of offering faster data transmission owing to rise of data traffic for optimizing data center facilities. Enterprise workloads have already started migrating towards cloud, which in turn requires the need for high performance computing, virtualization and related applications, making it beneficial for the use of PCIe based devices. In addition to this, with the surging COVID-19 pandemic situation, there is a rapid rise of remote work or work from home, driving the growth of data centers towards handling bulks of data with higher efficiency. Moreover, data centers have been continuously focusing on leveraging hyperscale computing networks to be able to meet growing cloud-based workloads, thereby accelerating the demand towards high-speed networking devices be it PCIe switches, servers, storage devices and many more. Large Enterprises including Microsoft Corporation, Google, Amazon Web Services and many others have been constantly focusing on expanding data center facilities across various regions alongside renovation or upgradation for the existing facilities to cope up with the growing data traffic is further set to propel the demand for PCIe based solutions. As a part of this, in 2021, Microsoft had revealed about its plans of investing about $200 million towards construction of two data centers of around 200,000 square feet outside Chicago, expected to become operational by 2022. Such factors are further set to propel the need for PCIe switches, servers, storage devices and so on owing to conducting various processes be it high-performance computing, optimum network connectivity and many others during the forecast period 2021-2026.

Growing shift towards advanced technologies like artificial intelligence and machine learning:

Growing shift towards advanced technologies including artificial intelligence (AI) and machine learning (ML) can be considered as one of the major drivers impacting the growth of PCIe DC-DC Converter Market. With technological advancements, there is significant rise towards AI or ML based workloads, eventually raising the need for upgraded or new generation of computing architectures. Since AI based applications work on generating as well as processing of massive amounts of data within real-time data speeds, there is significant demand towards various high speed PCIe devices like graphic processor units, switches, controllers and many others, capable of handling large bandwidth requirements at high-speeds. In comparison to traditional CPUs, the need for computational models is rising, owing to growing demand towards high-bandwidth and low latency communication channels. Rise of demands have been eventually attributing towards various PCIe generation models, particularly PCIe 4.0 or PCIe 5.0 for serving such application requirements. Leveraging PCIe technology can help CPU models to keep up with the increasing data flow from edge devices across various enterprises, thereby creating a positive impact on market growth. In 2020, an AI chipmaker, Hailo had introduced high-performance AI acceleration modules, namely M.2 and mini PCIe designed for empowering edge devices. The development of the modules was meant to allow customers integrate high-performance AI capabilities within edge devices, while offering a more flexible and optimized solution. Deployment of such modules can help in accelerating a large number of deep learning based application areas with higher efficiency, thereby creating its significant growth in the PCIe DC-DC Converter Market in the long run.

PCIe DC-DC Converter Market Challenges

Complexities related to designing, implementation or verification:

Designing, implementation or verification related complexities act as one of the major challenges restraining the growth of PCIe DC-DC Converter Market. PCIe based devices are capable of offering improved reliability, availability and many other advantages, gaining it wider adoption across various end-use verticals. However, configurability and complexities for PCIe pose several designing challenges, as the designer needs to read as well as understand various specifications associated with the standard for selecting an option to be incorporated within the designing architecture. In addition, due to its adoption across a broad range of application areas, manufacturing of PCIe in large quantities based on various factors be it voltage, temperature and so on, eventually affects its signal efficiency or integrity, thereby contributing towards high amounts of variation while designing process. Design or verification complexity issues exponentially rises due to need for a huge sample space of configurable features, along with a minimal error while selecting configuration can make the design unsuited for targeted application, thereby causing prolonged time to market. Such factors have been contributing towards lesser adoption of PCIe, while hampering its market growth across various end-use sectors.

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PCIe DC-DC Converter Market Landscape

Product launches, collaboration, and R&D activities are key strategies adopted by players in the PCIe DC-DC Converter Market. The key players in the PCIe DC-DC Converter Market include Broadcom Inc., Microchip Technology Inc., Renesas Electronics Corporation, Intel Corporation, Nvidia Corporation, Samsung Electronics Co. Ltd, Toshiba Corporation, Xilinx Inc., PLDA and Texas Instruments among others.

Acquisitions/Technology Launches/Partnerships

In April 2021, Samsung Electronics launched PM9A1 SSD, featuring a PCIe 4.0x4 interface. This development was meant to be used in PCs, specifically for enterprises as well as government agencies dealing with sensitive information with sophisticated security requirements.

In February 2021, Microchip Technology Inc. had introduced PCI Express 5.0 switch solution, Switchtec PFX PCIe 5.0 which is capable of doubling interconnects performance for dense compute, high-speed networking as well as NVM Express storage. Development of the world’s first PCIe 5.0 switch was done to support high density and reliability capabilities, including 28 lanes to 100 lanes and upto 48 non-transparent bridges.

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Gallium Nitride Substrates Market - Forecast(2025 - 2031)

Gallium Nitride Substrates Market Overview:

Gallium Nitride Substrates Market size is estimated to reach US$588.7 million by 2030, growing at a CAGR of 9.8% during the forecast period 2024-2030. The rising demand for GaN substrates from the automotive LED industry, rising demand for wide band gap substrates and the growing need for GaN-based power devices are driving the demand for Gallium Nitride Substrates from the end users. This trend is expected to boost the growth of the Gallium Nitride Substrates Market during the forecast period.

GaN plays an important role in the advancement of 5G technology as it enables quicker data transmission speeds and more efficiency. Because of its larger bandgap, it can withstand high-frequency transmissions, making it ideal for usage in communication infrastructure. This boosts the Gallium Nitride Substrates industry outlook during the forecast period.

Gallium Nitride Substrates Market - Report Coverage:

The “Gallium Nitride Substrates Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Gallium Nitride Substrates Market.AttributeSegment

By Size

●   2 inch

●   4 inch

●   6 inch

●   8 inch

By Type

●   GaN on Sapphire

●   GaN on Si

●   GaN on SiC

●   GaN on GaN

By End Use Product

●   Laser

●   Light Emitting Diodes (LEDs)

●   Power Electronics Devices

●   High Frequency Electronic Devices

●   Others

By Application

●   Servers and Data Centers

●   LiDAR

●   Wireless Charging Applications

●   Power Supply

●   Uninterruptable Power Supply (UPS)

●   Others

By End Use Industry

●   Automotive

●   Healthcare

●   Consumer Electronics

●   Defense

●   Optical Storage

●   Telecommunication

●   Satellite Communication

●   Others

By Geography

●   North America (U.S., Canada and Mexico)

●   Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

●   Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific),

●   South America (Brazil, Argentina, and Rest of South America)

●   Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

● The COVID-19 pandemic drove up the demand for Gallium Nitrate Substrates. Due to lockdowns and new waves of infection, there was a high demand for medical devices as well as consumer electronics. In 2020, the Government of India invested $33.87 million in Sultanpur Medical devices Park Project, Telangana for the development of medical devices, $27.09 million Palghar Medical Factory upgradation project, $68 million in medical devices cluster project and $136 million in medical equipment manufacturing.

● Ukraine and Russia are among the largest producers of gallium, according to the U.S. Geological Survey. However, due to the Ukraine crisis, there will be a shortage in supply of these raw materials, which impact the production of GaN substrates. This uncertainty also contributed to fluctuations in prices, impacting Gallium Nitride Substrates manufacturers amid a complex geopolitical situation.

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Key Takeaways:

● Fastest Growth of Asia-Pacific Region

Geographically, in the Gallium Nitride Substrates market share, Asia-Pacific is analyzed to grow with the highest CAGR of 10.6% during the forecast period 2024-2030. Japan, China, and Korea are the leading countries in APAC region contributing to over 80% of the production. Moreover, 90% of the bulk GaN substrate production is from players in the Asia-Pacific region, and Japan is the leading supplier. Additionally, the investment in 5G technology in the region also boost the Gallium Nitride Substrates Market. For instance, according to the Executive Yuan's Department of Information Services, from 2021 to 2025, the Taiwan government will invest an additional US$1.8 billion under the Forward-looking Infrastructure Development Program to assist the industry in accelerating and expanding efforts to promote the establishment of 5G infrastructure across the country.

● GaN on Sapphire is the Largest Segment 

In the Gallium Nitride Substrates Market analysis, the GaN on Sapphire segment dominated the Gallium Nitride Substrates with a market share of approximately 45% in 2023. Particularly in the early phases of the development of GaN technology, GaN on Sapphire has been a popular option for Gallium Nitride (GaN) substrates. Sapphire is an excellent material for high-temperature applications owing to its high melting point and superior thermal conductivity. Light-emitting diodes based on GaN grown on sapphire demonstrate perfect luminescence capacity. Hence, GaN on sapphire is widely used in the development of high-power and high-frequency devices such as light-emitting diodes (LEDs), radio-frequency amplifiers, and power electronics.

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● Uninterruptable Power Supply is the Fastest Growing Segment in the Market

According to the Gallium Nitride Substrates Market forecast, the uninterruptable power supply (UPS) segment is estimated to register the fastest growth during the forecast period, in terms of application. According to an article published in Data Center Dynamics in July 2023, GaN provides key advantages to the Uninterruptible Power Supply (UPS), a key component in data centers that provides backup power during outages. GaN can substantially improve the efficiency of UPS systems, reducing power losses by 56% and delivering 2.3x more power in the same space compared to traditional silicon-based components. This improved efficiency translates to lower energy consumption during normal operations and also allows for more compact and cost-effective UPS systems. Thus, the data center boom drives the Gallium Nitride Substrates market.

● Increasing Demand from the Automotive-LED Sector

The LED industry is a major end user of GaN substrates and holds potential to grow considerably in the future with growing adoption of LEDs in lighting as well as other applications.  According to International Energy Agency (IEA), LED technology is used in more than 50% of the worldwide lighting market. GaN-based LEDs offer several benefits in automotive lighting such as high brightness, high efficiency, and longer lifespan. In November 2022, Kyocera announced that it developed the world’s first Automotive Night Vision System with white and near-infrared light diodes integrated into a single GaN laser device. Overall, the use of GaN in LED applications has transformed products and enabled higher efficiency, longer lifespan, brighter light, and significant energy savings. Thus, the increasing demand from the automotive LED sector acts as a driver for the growth of the Gallium Nitride Substrates Market during the forecast period.

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● Growing Demand for GaN Based Power Devices

GaN substrates have numerous advantages in power electronics due to their high breakdown voltage, high electron mobility, and high thermal conductivity.  According to Cambridge GaN Devices Ltd, GaN-based power electronics offer up to 3x the power density and faster charging than silicon-based power electronics, as well as 20x faster switching and reduced energy loss. According to the Efficient Power Conversion Corporation report, GaN is capable of conducting electrons 1,000 times more efficiently than silicon while also having lower manufacturing costs resulting in their increased application in wireless charging devices. At CES 2023, Navitas Semiconductor showcased its latest GaN-based devices that spanned from 20-W mobile phone chargers to 2-kW data center power supplies and 20-kW EV chargers. Thus, GaN is a promising technology for the development of lightweight, and faster-charging systems. Thus, the growing demand for GaN based power devices drives the Gallium Nitride Substrates Market.

● High Implementation Cost to Impede to Market growth

GaN substrate implementation is still rather expensive when compared to other semiconductor materials like silicon. This is because making high-quality GaN substrates requires a difficult production process that requires for the utilization of specialist tools and procedures like metal-organic chemical vapor deposition (MOCVD). According to Strategic Metals Invest, the price of gallium increased by 17.95% since Jan 2023, and is up 78.80% compared to its price of $422.70 per kg in Jan 2021. While GaN substrates present cutting-edge performance benefits, the industry grapples with addressing the cost issue to fully capitalize on their advanced capabilities and ensure their seamless integration into diverse applications. Such challenges can hinder the Gallium Nitride Substrates market growth in the future. 

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Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Gallium Nitride Substrates Market. The top 10 companies in this industry are listed below:

1. Kyocera Corporation

2. Mitsubishi Chemical Corporation

3. Sumitomo Electric Industries, Ltd.

4. Shin-Etsu Chemical Co., Ltd.

5. Saint Gobain (IVWorks)

6. Pam Xiamen

7. Toshiba Corporation

8. Soitec

9. GaN Systems Inc.

10. Cree

Scope of Report:  Report MetricDetails

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

9.8%

Market Size in 2030

$588.7 billion

Segments Covered

Size, Type, End Use Product, Application, End Use Industry and Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

Kyocera Corporation

Mitsubishi Chemical Corporation

Sumitomo Electric Industries, Ltd.

Shin-Etsu Chemical Co., Ltd.

Saint Gobain (IVWorks)

Pam Xiamen

Toshiba Corporation

Soitec

GaN Systems Inc.

Cree

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Nutricosmetic Ingredients Market - Forecast(2025 - 2031)

Nutricosmetic Ingredients Market Overview

Nutricosmetic Ingredients Market Size is forecast to reach $11067.8 Million by 2030, at a CAGR of 7.90% during forecast period 2024-2030. Nutricosmetic ingredients are natural ingredients that are used to provide beauty and comprises of the essential nutrients and antioxidants. It have preventive effects on the nails, skin, and weight management. Nutricosmetic ingredients are used in collagen, antioxidants, flavones, and plant based ceramides. The nutricosmetics are consumed orally as well as in liquid forms. They act as an anti-oxidants by controlling and cancelling the effects. It also provide anti-inflammatory protection to the skin against the harmful ultraviolet radiation. Increasing cosmetic assistance and increasing regulatory norms are the major factors driving the growth of the market. Increasing usage of nutricosmetic as a dietary supplements and increasing demand for collgen for skin protection is set to further enhance the overall market development of the Nutricosmetic Ingredients Market for the period 2024-2030.

Nutricosmetic Ingredients Market Report Coverage

The report: “Nutricosmetic Ingredients Market Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Nutricosmetic Ingredients Market.

By Type: Carotenoids, Vitamins, Collagen, Antioxidants, Polyphenolics, Lycopenes, Beta Carotene, Flavones, Plant Based Caeramides, and Polypodium Leucomotes

By Product: Dietary Supplements, and Function Food & Beverage

By Application: Skin Health, Hair Health, Nail Health, and Weight Management

By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)

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Key Takeaways

North America dominated the Nutricosmetic Ingredients Market in 2020 owing to the increasing health awareness and increasing adoption rate of dietary supplements. The Nutricosmetic Ingredients Market scope for different regions will be provided in the final report.

Increasing investment in research & development activities for producing vitamins based products and increasing usage of dietary supplements are likely to aid the market growth of the Nutricosmetic Ingredients Market report.

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Nutricosmetic Ingredients Market report.

Higher price of the nutricosmetic products and increasing competition is poised to create the hurdles for the Nutricosmetic Ingredients Market.

Nutricosmetic Ingredients Market Segment Analysis – By Product

Collagen held the largest share in the Nutricosmetic Ingredients Market in 2020 and is estimated to grow at a CAGR 8.5% during the forecast period 2021-2026. This is owing to the increasing demand for the collagen products as a nutricosmetic. Gelatin is used in improving consistency, elasticity, and stability. Gut hormones in obese people can also be normalized using gelatin. It is used for skin protection, skin whitening, and anti ageing among others. It provides a good product to the consumers as it is used to improve skin health and weight management. Increasing number of individuals opting for hair health is increasing the growth of the market. Collagen are estimated to register the higher CAGR over the period 2021-2026.

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Nutricosmetic Ingredients Market Segment Analysis – By Application

Dietary Supplements held the largest share in the Nutricosmetic Ingredients Market in 2020 and is estimated to grow at a CAGR 8.7% during the forecast period 2021-2026. This is owing to the increasing awareness regarding the consuming pills for nutricosmetics, and increasing incidences of skin diseases. Increasing awareness regarding the reduction of calorie intake is also increasing the growth of the segment. Skin health segment is increasing owing to the inflammatory properties of the nutricosmetics for treating various skin diseases. Nutriosmetics is used for weight management. It absorbs tissue secretions. Increasing usage of nutricosmetics in plastic surgeries is also increasing the growth of this segment. Dietary Supplements are estimated to register the higher CAGR over the period 2021-2026.

Nutricosmetic Ingredients Market Segment Analysis – By Geography

North America dominated the Nutricosmetic Ingredients Market with a major share of 29% in 2020. This is attributed to the increasing research & development, and increasing penetration of improved medications. Increasing consumption of dietary supplements, increasing health benefits of nutricosmetics, increasing healthcare expenditure, and improving healthcare infrastructure is increasing the growth of the market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing healthcare awareness, and rising awareness regarding nutricosmetics. Increasing production technologies, increasing incidences of the skin diseases, increasing demands for functional food & beverages along with the increasing healthcare expenditure is increasing the growth of the market in this region.

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Nutricosmetic Ingredients Market Drivers

Increasing Demand for Collagen 

Increasing demand for collegen is increasing the growth of the Nutricosmetic Ingredients Market. Gelatin is used as a gelling agent that offers various properties for skin protection, anti-ageing, and skin whitening among others. Collagen is used for manufacturing wound covers to treat severe burns. Increasing treatments that involves human surgeries and skin donation sites. Collagen also serves as a major part of the endomysium. Thus, increasing the growth of the Nutricosmetic Ingredients Market during the forecast period 2021-2026.

Increasing Cosmetic Surgeries 

Increasing cosmetic surgeries is increasing the growth of the Nutricosmetic Ingredients Market. This is attributed to the fact that nutricosmetics is used in anti-ageing treatment and also for cosmetic surgeries. Increasing incidences of cosmetic surgeries such as anti-ageing creams also increases the growth of the market. Injectable fillers s a cosmetic plastic surgery procedure that is used to treat depressions as well as wrinkles in the skin. It is injected into the skin to fill up the area that is getting treated up. Thus, increasing the growth of the Nutricosmetic Ingredients Market during the forecast period 2021-2026.

Nutricosmetic Ingredients Market Challenges

Higher Price of the Nutricosmetic Products and Increasing Competition 

Some of the factors that are set to impede the growth of the Nutricosmetic Ingredients Market are higher price of the nutricosmetic products and increasing competition. Lack of awareness among consumers regarding the benefits of the nutricosmetics and increasing concerns associated with the longer duration is set to increase the growth of the market during the forecast period 2021-2026.

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Nutricosmetic Ingredients Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Nutricosmetic Ingredients Market. In 2020, the Nutricosmetic Ingredients Market share is consolidated by the top ten players present in the market. The Nutricosmetic Ingredients Market 10 companies are BASF SE, Gelita AG, Croda International Plc., DSM N.V. , and Kyowa Hakko among others.

Key Market Players:

The Top 5 companies in the Nutricosmetic Ingredients Market are:

BASF Personal Care and Nutrition GmbH

GELITA AG

Croda International Plc

DSM

Kyowa Hakko U.S.A., Inc.

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Animal Feed Safety Testing Market - Forecast(2025 - 2031)

Animal Feed Safety Testing Market Overview

Animal Feed Safety Testing Market Size is estimated to reach $3,463.2 million by 2030 and is poised to grow at an estimated CAGR of 8.1% over the forecast period of 2022-2030. Animal Feed Safety Testing includes inspection and testing of animal feed for adulteration and contamination in animal feed. The demand for animal feed is growing across the globe as a result of increasing pet humanization and growing commercial production of livestock animals, poultry and the aquaculture industry. Growing demand for meat and meat product across the globe create global demand for healthy animal feed in the industry. Animal Feed Safety Testing includes testing for pesticides, metals, drugs, pathogens, antibiotics and mycotoxins in animal feed and feed ingredients. It conforms absence of contamination and foodborne diseases, toxicity and poisoning substances. It can be done by pathogen testing, nutritional & labeling analysis, mycotoxin testing, fat and oil analysis, proximate analysis and pesticide & fertilizer analysis. The type of feed testing alters with the type of feed and animal. It generally includes spectrometry, immunoassay, flow cytometry, refractometers and others. The surge in the Animal Feed Testing Industry is driven by a number of factors, including rising outbreaks of pet foodborne illness around the world, strict regulation in animal feed quality control and growing research and developments in the Animal Feed Safety Testing Industry.

Animal Feed Safety Testing Market Report Coverage

The “Animal Feed Safety Testing Market Report - Forecast (2022-2030)" by Industry ARC, covers an in-depth analysis of the following segments in the Animal Feed Safety Testing Market.

By Type: Testing Kits & Instruments, Reagents and Consumables and Testing Services.

By Testing Types: Antibiotics & Drugs, Mycotoxin Analysis, Pathogen Testing, Fat And Oil Analysis, Feed Ingredient Analysis, Metal And Mineral Analysis, Nutritional Labelling, Pesticides & Fertilizers Analysis, Proximate Analysis, GMO Testing and Others.

By Application:Poultry Feed, Dairy Feed, Equine Feed, Pet Food, Fish Feed and Others.

By Testing Technology: Polymerase Chain Reaction (PCR), Nuclear Magnetic Resonance (NMR), Immunoassay, Enzyme-Linked Immunosorbent Assay, (Chromatography (Liquid Chromatography, Gas Chromatography, Others)), Mass-Spectrometry, Irradiation, Biochip/Biosensors, Agglutination and Others.

By Geography: North America (the U.S., Canada and Mexico), Europe (Germany, the U.K., France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

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Key Takeaways

Geographically, North America held a dominant market share in the year 2021 because of the strict regulatory bodies such as the FDA and high consumer awareness about healthy pet food. These factors further boost the growth of the Animal Feed Safety Testing Market Size in this region.

Increasing global demand for meat and meat products fuels the growth of the Animal Feed Safety Testing Industry over the forecast period 2022-2030.

However, rising consumers and societal expectations may disrupt the growth of the Animal Feed Safety Testing Market.

A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Animal Feed Safety Testing Market Report.

Animal Feed Safety Testing Market Segment Analysis - by Type

Animal Feed Safety Testing Market based on the type can be further segmented into Testing Kits & Instruments, Reagents & Consumables and Testing Services. Testing services held a dominant market share in 2021. In the rising livestock and meat growing industry, animal feed testing plays a crucial role to safeguard and confirm the quality of animal feed. The use of spectrometry, immunoassay, flow cytometry and refractometers play important role in the diagnosis of contamination. Animal feed testing services check for any contamination in raw products or completed products prior to placing them on the market for sale. It helps to determine shelf life, microbial contamination, antibiotic analysis, pesticides and fertilizer analysis. Such importance of animal feed testing and growing demand for testing services fuel the growth of the Animal Feed Safety Testing Market Share.

However, Reagents & Consumables are estimated to be the fastest-growing segment with an estimated CAGR of 9.8% over the forecast period of 2022-2030. This is owing to the increasing demand for various reagents and consumables in animal feed testing to perform the operation. The rise in cases of foodborne illnesses, strict regulatory authority and raising consumer awareness are the main factors driving the growth of animal feed safety testing, hence the rising demand for reagents and consumables for analysis of the animal feed. Such rising demand for reagents and consumables in Animal Feed Safety Testing promotes the growth of the Animal Feed Safety Testing Market Share over the forecast period.

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Animal Feed Safety Testing Market Segment Analysis - by Application

Animal Feed Safety Testing Market based on the application can be further segmented into Poultry Feed, Dairy Feed, Equine Feed, Pet Food, Fish Feed and others. Poultry Feed held a dominant market share in 2021. This is because of the increasing demand for poultry meat and eggs in the market. According to the poultry world, global demand for poultry meat and eggs would rise up by 121% and 65%, respectively, by 2050. Also, as per a research article published in Helgi Library, based on a comparison of 161 countries in 2019, Israel ranked the highest in poultry meat consumption per capita with 71.7 kg. Such increasing demand for poultry meat and eggs increases the demand for healthy poultry feed. It further raises the growth of the animal feed safety testing market in poultry feed. Such a growing need for Animal Feed Safety Testing drives the growth of the Animal Feed Safety Testing Market Share.

However, Pet Food is estimated to grow by 11.9% in the forecast period of 2022-2030, owing to the increasing adoption of pets in recent years after the COVID outbreak. Pet owners are more sensitive about pet health and conscious about buying healthy pet food. Contamination in pet food leads to severe food-borne diseases in pets and humans in contact with pets. Hence, animal feed safety testing plays a crucial role in the quality analysis of food. In February 2022, Freshpet recalled a single lot of pet food with the possibility of salmonella bacteria after issuing a recall notice by FDA. Such increasing incidence of foodborne illness and growing demand for pet food with rising pet adoption boost the growth of the Animal Feed Safety Testing Market Share.

Animal Feed Safety Testing Market Segment Analysis - by Geography

The Animal Feed Safety Testing Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held the dominant market share of 34% in 2021. This is due to robust demand for animal feed, high spending capacity of consumers and an increasing network of animal feed safety testing laboratories. According to The Institute for Feed Education and Research (IFEEDER), in 2020, the U.S. accounted for the consumption of 284.4 million animal feed. With contamination and adulteration risk of antibiotic resistance is growing in animal feed in this region. The U.S. Food and Drug Administration (FDA) has taken a number of initiatives in recent years to encourage the prudent use of medically significant antimicrobial medications in food-producing animals in response to concerns about the development of antibiotic resistance. In 2022, In order to encourage antimicrobial stewardship in veterinary settings and the reduction of antimicrobial resistance in animal agriculture, the Center for Veterinary Medicine (CVM) announced two funding opportunities for Fiscal Year (FY) 2022 that could give up to $800,000. Such government initiatives and growing awareness among consumers are likely to propel the growth of the Animal Feed Safety Testing Market Size in this region.

Furthermore, Asia Pacific is estimated to be the fastest-growing market with an estimated CAGR of 10% over the forecast period 2022-2030. This is fuelled by the increase in livestock production and growing demand for animal protein. With the rise in household income, growing urbanization and changing lifestyle of people in this region, the demand for animal feed and processed meat is increasing. Such growing demand for animal feed boosts the demand for chromatography, spectrometry, immunoassay, flow cytometry and refractometer techniques, further boosting the growth of the Animal Feed Safety Testing market size in the Asia-Pacific region over the forecast period 2022-2030.

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Animal Feed Safety Testing Market Drivers

Increasing Outbreak of Food Borne Diseases:

Animal Feed plays an important role in the healthy growth of animals. In the commercial production of animals for milk, meat, eggs or other purposes, healthy meals are necessary for healthy growth and minimum expenditure on diseases. In the United States, expenditure on pet food for 2021 was $103 billion and it continues to rise. Pet food owners spend an average of $329 to $422 per year on pet food. Consumers are more aware of selecting the right pet food and regulatory authority plays an important role in the safety checking of pet food. In July 2022, Piramal Pet Food, Inc. recalled raw frozen Piramal patties for dogs produced by the beef formula because of the possible contamination of Listeria monocytogenes. In February 2022, Food and Drug Administration investigated a foodborne disease outbreak caused by Listeria monocytogenes. Such increasing foodborne diseases with continuous recall and withdrawal of animal feed fuel the growth of the Animal Feed Safety Testing Industry.

Growing Consumption of Meat and Animal Protein:

The increasing global population increases the demand for nutritional food. Additionally, various meat products by key market players in the market such as McDonald’s, KFC, Pizza Hut and others and the growing consumption of per capita meat help drive the market. As per the latest United States Department of Agriculture Data, red meat and poultry meat consumption are 224.6 pounds per capita in the United States. However, the demand for meat and meat products is higher in China. China is the world’s largest consumer of meat and meat products. People in this country are expected to consume more than 53 million tonnes of pork and 10 million tonnes of beef and veal in 2022, according to the US Department of Agriculture. Such increasing consumption of meat and meat products across the globe creates global demand for healthy animal feed which help to fuel the growth of the Animal Feed Safety Testing Industry over the forecast period 2022-2030.

Animal Feed Safety Testing Market Challenges

Change in Labelling of Animal Feed and Cheaper Alternatives:

Animal Feed is treated with almost the same regulation as human feed owing to the high connection between the commercial production of animals and the rising adoption of pets. With the growing demand for animal and pet food, there is an increasing incidence of food fraud in the market. Labels in the animal feed help consumers to buy healthy feed for their animals and changing the label on animal feed misleads the consumers. Most retailers change the labels of food and sell unhealthy food. Consumption of such feed leads to food-borne disease and at the severe stage, the animal or pet dies. In August 2021, more than 100 dogs died and 220 pets got illnesses linked to the consumption of pet food made by Midwestern. The investigation reports showed that SPORTMiX brand dry dog food was responsible for deaths and illnesses in dogs. Samples of SPORTMiX were found to contain levels of aflatoxin as high as 558 parts per billion (ppb). The FDA considers pet food to be contaminated if it contains more than 20 ppb of aflatoxin. Such contamination, adulteration and pet food fraud hamper market growth over the forecast period 2022-2030.

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Animal Feed Safety Testing Industry Outlook

Novel product launches, mergers and acquisitions, participation in feed testing-related conferences, partnerships, collaborations, agreements and technological advancements are key strategies adopted by players in the Animal Feed Safety Testing Market. The top 10 companies in the Animal Feed Safety Testing Market market are:

BIOBASE group

Bruker Corporation

Metrohm AG

Life Technologies Inc.

Intertek Group Plc.

TUV Rheinland Group

Neogen Corp

Eurofins Central Analytical Laboratories

Whitebeck Group

Genetic ID NA Inc.

Recent Developments: 

In June 2022, Bruker launched the revolutionary 4D Multiomics timsTOF platform along with the new timsTOF HT system. The timsTOF HT includes a novel 4th-generation TIMS (trapped ion mobility separation) XR cell and 14bit digitizer for greater dynamic range, enhanced peptide coverage and more accurate quantitation.

In June 2022, TUV Rheinland and Conenergy signed a cooperation agreement to jointly offer energy transition services as well as create and expand innovative services for clients along the entire hydrogen value chain. The cooperation would leverage these companies’ strengths as enablers in the energy industry and grow the footprint of both parties to better serve clients in the DACH region and beyond.

In May 2021, Intertek acquired SAI Global Assurance, a leading provider of assurance services, for $665 million. This helped to scale up Intertek’s high growth, high margin and capital-light Business Assurance operations. It also significantly increased its presence in complementary geographic markets, specifically in Australia, the USA, Canada, the UK and China.

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Ammonium Acetate Market - Forecast(2025 - 2031)

Ammonium Acetate Market Overview

The Ammonium Acetate Market size is estimated to reach US$13.01 billion by 2030, after growing at a CAGR of 3.3% during the forecast period 2024-2030. The increasing demand for Ammonium Acetate in various industries underscores its pivotal role in chemical synthesis, pharmaceuticals, and the food and beverage sector. Ammonium Acetate, with the chemical formula NH4CH3CO2, is an essential ammonium salt derived from the reaction between acetic acid and ammonia. Its versatile applications make it a sought-after compound in different sectors. 

In the pharmaceutical industry, Ammonium Acetate plays a crucial role in drug formulation, particularly in medications like insulin. The high demand for this salt in pharmaceutical applications is a significant driving factor for the Ammonium Acetate industry. Its utility in chemical synthesis and catalysis further enhances its importance in various research and manufacturing processes. The food and beverage sector also contributes significantly to the growing demand for Ammonium Acetate. Its use as an avidity regulator and food additive underscores its versatility in enhancing the quality and properties of food products. As the food industry continues to expand, the demand for Ammonium Acetate is expected to rise, further boosting the market size. The continuous growth in these sectors, coupled with the increasing scope of applications for Ammonium Acetate, positions the industry for rapid expansion during the forecast period.

Ammonium Acetate Market Report Coverage

The “Ammonium Acetate Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Ammonium Acetate Industry.

By Grade: Industrial Grade, Agricultural Grade, Medical Grade and Food Grade.

By Application: Drugs, Fertilizers, Pesticides, Cleaning Products, Food Additive, Latex, Foam Rubber, Shampoos and Others.

By End-use Industry: Food & Beverages (Bakery, Dairy, Meat and Others), Medical & Pharmaceutical (Patent Drug, Chemical Medication and Others), Cosmetics & Personal Care (Hair Care, Skin Care, Body Care and Others), Agriculture, Chemical, Textile and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

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Key Takeaways

• North America dominates the Ammonium Acetate Market share of 38.1% in 2023, owing to growth factors such as the flourished base for the medical & pharmaceutical sector and rising food & beverage production.

• The flourishing medical & pharmaceutical sector across the world is propelling the demand for Ammonium Acetate for major utilization in drugs such as insulin, penicillin, drug synthesis and others, thereby influencing the growth in the Ammonium Acetate market size.

• The demand for Ammonium Acetate in the food & beverage sector is significantly rising for applications in food additives, flavoring agents, acidity regulators and others, thereby fueling the growth scope in the Ammonium Acetate market.

• However, the health hazards associated with ammonium acetate and the threat to the environment act as challenging factor in the ammonium acetate industry.

Ammonium Acetate Market Segment Analysis – by Grade

The medical grade segment held a significant share in the Ammonium Acetate Market in 2023 and is projected to grow at a CAGR of 3.5% during the forecast period 2024-2030. The growth scope for medical grade ammonium acetate or ammonium salt is high compared to other grades such as industrial, food and agriculture due to rising utilization in pharmaceuticals for the formulation of insulin, penicillin, and others. The ammonium acetate chemical formula is NH4CH3CO2, with an ammonium acetate molar mass of 77.0825 g/mol. In addition, the medical grade has high purity over other grade types and is widely used in electrolyte solutions. Thus, with bolstering growth in the medical and pharmaceutical sector for applicability in drug synthesis, chemical medications, and others, the medical grade segment is anticipated to grow rapidly in the Ammonium Acetate market during the forecast period.

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Ammonium Acetate Market Segment Analysis – by End-Use Industry

The medical & pharmaceutical segment held a significant share in the Ammonium Acetate Market in 2023 and is estimated to grow at a CAGR of 3.9% during the forecast period 2024-2030. Ammonium acetate, which is obtained from a reaction between ammonia and acetic acid, has flourishing applications in the medical & pharmaceutical sector for drug preparation, chemical medication, and others. The lucrative growth in the pharmaceutical sector is influenced by growth factors such as high spending on drugs, growing healthcare infrastructure, and a high rate of chronic health incidents. According to the International Trade Administration, the medical device market in China is poised for robust growth, with a projected 8.3% CAGR from 2021 to 2026. Anticipated expansion is set to elevate the market to $48.8 billion by 2026. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), The global pharmaceutical (prescription) market, valued at approximately €1,222,921 million ($1,287,736 million) in 2022, highlights North America's dominance, holding a substantial 52.3% market share. The USA and Canada continue to lead, surpassing Europe, China, and Japan in pharmaceutical sales and market influence. With the rapid growth scope and production trend in the medical & pharmaceutical sector, the demand for Ammonium Acetate in drugs such as insulin, chemical medication, and others is increasing. This, in turn, is projected to boost its growth scope in the medical & pharmaceutical industry during the forecast period.

Ammonium Acetate Market Segment Analysis – by Geography

North America held the largest Ammonium Acetate Market share of up to 38% in 2023. The lucrative growth scope for ammonium acetate or ammonium salt in this region is influenced by the rise in healthcare and food & beverages sectors, rising expenditure on medical and pharmaceutical utilities, and flourishing medical infrastructure. The lucrative growth for the medical & pharmaceutical sector in North America is influenced by growing healthcare infrastructure, high spending on drugs, and increasing chronic diseases. According to the National Center for Biotechnology Information, in 2023, projected prescription drug spending is set to increase by 6.0% to 8.0%. Clinics and hospitals are expected to see higher rises, with anticipated increases of 8.0% to 10.0% and 1.0% to 3.0%, respectively, compared to 2022 According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the estimated growth of the pharmaceutical sector for 2022 was 5.4% in North America. With the bolstering growth and chronic drug production in the medical & pharmaceutical sectors, the utilization of Ammonium Acetate in medications such as insulin, penicillin, and others are growing. This, in turn, is projected to boost its growth prospects in the North American region during the forecast period.

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Ammonium Acetate Market Drivers

Bolstering Growth of the Agriculture Sector:

Ammonium Acetate, which is obtained from a reaction between ammonia and acetic acid, has massive demand in the agricultural sector for applicability in pesticides, fertilizers and others. That is because it plays a vital role in synthesis procedures and helps in the root growth of the crop. The agriculture industry is significantly flourishing due to factors such as rising production for grains, cereals, and others, demand for fertilizer and pesticides, and the government's initiative to promote agricultural development policies. According to the India Brand Equity Foundation (IBEF), the agriculture sector in India is expected to increase to US$24 billion by 2025. Also, as per Trade Economics, China's agricultural GDP rose significantly to $ 7853.35 Hundred million in Q3 2023, marking a substantial increase from $ 4237.18 Hundred million in the previous quarter, reflecting positive growth in the agricultural sector. With the robust scope for agricultural production, the utilization of ammonium acetate in agrochemicals for the synthesis of fertilizer and pesticides is increasing, which, in turn, is driving the Ammonium Acetate industry.

Flourishing Growth of the Food & Beverage Sector:

Ammonium Acetate has a wide range of applications in the food sector as food preservatives, acidity regulators, pH regulators, and anti-caking agents in flour. The food industry is significantly growing due to growth factors such as high demand for ready-to-eat food items, rising production for dairy, meat, fruits, and vegetables, and increasing disposable income. According to the India Brand Equity Foundation (IBEF), the Indian food processing sector is expected to reach US$535 billion by 2025-26. According to the UK Statistics, In 2022, spending on dining out rose by 29%, reaching $ 152.25 bn. According to the Association for Packaging and Processing Technologies, the food sector in the US is anticipated to expand by 2.9% by 2022. Thus, with the rapid increase in food & beverage production and growth scope, the applicability of ammonium acetate as an acidity regulator, meat processing, ammonium acetate pH regulator, and food additive is growing, which, in turn, is driving the Ammonium Acetate industry.

Ammonium Acetate Market Challenges

Health Hazards Associated with Ammonium Acetate:

Ammonium Acetate is often associated with major health hazards and environmental threats. The ammonium acetate SDS or safety data sheets show high health risks. It results in health issues such as mouth irritation, nose irritation, eye rashes, and skin irritations. Moreover, any contact with the compound also creates problems in the respiratory and gastrointestinal systems. In addition, the toxicity of ammonium acetate creates environmental impacts such as water toxicity and life threats to aquatic life. Thus, owing to such volatility and hazards associated, the Ammonium Acetate market anticipates a major slowdown and growth challenge.

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Ammonium Acetate Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Ammonium Acetate Market. The top 10 companies in the Ammonium Acetate Market are Hongyang Chemical, Tianmen Chutian Fine Chemical Co., Ltd, Niacet b.v, Kanto Chemical Co.Inc,, Thermo Fisher Scientific Inc., Kanha Life Science LLP, Anhui Hongyang Chemical Co., Ltd., Merck KGaA, Hefei TNJ Chemical Industry Co., Ltd, Foxkem Industries, among others

Recent Developments:

 November 2023 Thermo Fisher Scientific and Flagship Pioneering have joined forces in a strategic partnership to rapidly advance and commercialize multiproduct platforms, solidifying Thermo Fisher's position as the global leader in scientific solutions.

 September 2022, Merck invests over €130 million in Molsheim, France, bolstering manufacturing capabilities. This substantial commitment underscores Merck's dedication to enhancing production and innovation in the region.

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Automotive Interior Materials Market - Forecast(2025 - 2031)

 The automotive interior materials market signifies the utility of various materials for the designing of the interior materials in an automobile. There are various parts of an automotive where many materials play a key role in their manufacturing.

Request Sample The increasing automobile demand and changing customer preferences with regards to comfort, every automotive OEM is differentiating the interiors of their vehicles and this has been driving the automotive interior materials market. The major factor that which every automotive OEM is focusing is to reduce the weight of the vehicle because the less weight vehicles can accelerate more with optimal utilization of fuel when compared to heavy weight vehicles. Hence, reducing weight by the use of lighter materials is the most driving factor.  Moreover, with the reduction in weight, the vehicles can carry additional advanced emission control systems, safety devices and integrated electronic systems without increasing its overall weight. The market for the automotive interior materials is found to be increasing year by year. Asia Pacific and Rest of the World are the key markets for the future and are expected to provide huge opportunities to the global automotive interior materials manufacturers because of the growth in the automotive sector and increasing demand for passenger vehicles in the regions. The forecast of this market is going to be $XX bn by the end of 2021.

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The segmentation of automotive interior materials market can be done based on the type of materials such as fabrics, thermo plastics, polymers, vinyl compounds, synthetic and natural fibers, wood, glass, composite materials and also based on the type of the application such as the high or medium commercial vehicles and also passenger vehicles, and also on the criteria of the products which we obtain by the use of these materials such as seat belts, seat covers, door trims, scuff plates, floor carpets, dash boards, bumpers, filters and reservoirs and so on.

Schedule a Call The geographical information of this automotive interior materials market has been varying with respect to the span of time. Asia pacific occupies the largest share of the automotive interior materials suppliers and the majority of suppliers are from the countries such as India, China, Japan, South Korea and others, the demand for the automobile materials manufacturers is at an all time high in these areas and the emergence of new technologies is the major reason for the increase of demand and vast development in supplying the automotive materials. 

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The European region occupies the next major share and most of the European countries are developed so their major concentration is on the safety of the passengers. So, most of the European countries will target on the appropriate selection of materials which provide safety for the passengers during the times of accidents or crashes. The next major share is of the US market mostly supplemented by countries such as Canada, but some of the major key countries for the supplying of the automotive interior materials market are Mexico, Canada, Germany, France, Spain, China, India, Japan, South Korea, and Brazil on a global level.

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Digital Printing Market - Forecast(2025 - 2031)

Digital Printing Market Overview:

The Digital Printing Market size is projected to reach $43 billion by 2030, growing at a CAGR of 7.2% during the forecast period 2023-2030. Digital printing is a contemporary method of printing images, created using digital technology directly onto various media substrates. Digital printing is more accurate and cost-effective than conventional printing methods while occupying a fraction of the space. These characteristics have prompted the broad adoption of digital printing technologies, specifically in the textile and packaging industries.

The desire for high-quality, cost-effective graphics along with environmental sustainability is expected to drive attention toward digital printing, more specifically UV-curable ink-based printing. According to the Print Authority, digital printing for up to 2000 pieces is by far the most economical in comparison to others. Apart from this, the emergence of 3D printing, sheet-fed digital printing, printed electronics and print security are going to boost the Digital Printing Market. This represents the Digital Printing Industry Outlook.

Digital Printing Market - Report Coverage:

The “Digital Printing Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Digital Printing Market.AttributeSegment

By Print Head Type

Inkjet

Laser

By Ink Type

Aqueous Ink

UV-Cured Ink

Solvent Ink

Latex Ink

Dye Sublimation Ink

Others

By Substrate Type

Plastic Films or Foils

Release Liner

Glass

Textile

Paper

Ceramic

Others

By Application

Books

Commercial Printing

Packaging

Others

By Geography

North America (the US, Canada and Mexico)

Europe (Germany, France, the UK, Italy, Spain, Russia, Netherlands and the Rest of Europe),

Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Malaysia and the Rest of Asia-Pacific),

South America (Brazil, Argentina, Chile, Colombia and the Rest of South America)

The Rest of The World (the Middle East and Africa).

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COVID-19 / Ukraine Crisis - Impact Analysis:

The pandemic altered the dynamics of the digital printing sector. The digital printing industry was compelled to change its focus to online transactions and methods due to abrupt shutdown restrictions everywhere in the world. This led to an initial decline in the industry, which is expected to level off with the growing popularity of e-commerce.

Global supply chains have been seriously harmed by the Ukraine crisis and energy costs have risen sharply. Since the war started, prices for gasoline and diesel have doubled. As a result, other printing-related inputs, which are generated from petroleum, have increased in price, thus increasing the cost of printed goods.

Key Takeaways:

Dominance of Asia-Pacific Region

Geographically, Asia-Pacific (Digital Printing Market) is anticipated to grow at the fastest CAGR of 8.4% during the forecast period of 2023-2030. It is due to the increasing popularity of e-commerce-enabled packaged items. According to a report, by 2027, the user penetration of e-commerce would reach 72.9% in the region, which is definitely going to expand the Digital Printing Market opportunities.

Inkjet segment holds the largest market share

According to the Digital Printing market, the Inkjet segment held the largest Digital Printing market share in 2022, i.e., 57.4%, owing to its better tonal variety and excellent color blending capability. The fact that inkjet printers account for 5% of the market for computer peripherals helps explain the dominance of inkjet print heads.

Dominance of the UV Curable Ink segment

Based on Ink Type, the UV Curable Ink Segment is anticipated to register the fastest CAGR of 7.6% during the forecast period of 2023-2030, owing to its durable color quality and reduced health hazard. Organizations like Prism Tech have started showcasing the use of UV-curable ink as part of their commitment to environmental responsibility, along with its VOC-free and 3-year outdoor durability features.

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Emergence of Advanced Printing Techniques

3D printing, sheet-fed digital printing and printed electronics are going to be key digital printing market trends. According to the Digital Printing market forecast, the 3D printing industry would grow by $7.5 billion between 2022 and 2024. A similar trend in other techniques is also anticipated in the coming years.

Demand for Print Security

According to a survey, 68% of the organizations have reported one or more print-related data losses that have caused severe disruptions of service. The reliance on printing demands a robust print-security infrastructure. This increasing demand for shielding against data breach issues is going to change the dynamics of the digital printing market opportunities in a positive manner.

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Cost and complexity would hinder the growth

According to a study, 61% of CIOs find it difficult to handle the complexity of digital printing-related concerns. Moreover, the installation cost to be incurred is also higher when compared to the traditional ones. These factors are going to hamper the growth of the Digital Printing market.

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Digital Printing Market. The top 10 companies in this industry are:

Hewlett Packard Enterprise (HP Laser 108w)

Canon Inc. (imageCLASS MF645Cx)

Ricoh Company Ltd. (PC311W)

Seiko Epson Corporation (Epson WorkForce Enterprise WF-C20600)

Xerox Corporation (XEROX C310 COLOR PRINTER)

Toshiba Co. Ltd (CF3/CF3R)

Konica Minolta (NASSENGER SP-1)

Mimaki Engineering Co. Ltd. (UJV100-160)

Roland GG Corporation (VersaUV LEC2-330/640 UV-LED Printer)

Durst Phototechnik AG (TAU RSC 330 E)

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Scope of Report:

Report MetricDetails

Base Year Considered

2022

Forecast Period

2023–2030

CAGR

Growing at the rate of 7.2%

Market Size

43 billion USD

Segments Covered

Print Head Type, Ink Type, By Substrate Type, By Application and Region

Geographies Covered

North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Market Players

1. Hewlett Packard Enterprise

2. Canon Inc.

3. Ricoh Company Ltd.

4. Seiko Epson Corporation

5. Xerox Corporation, 

6. Toshiba Co., Ltd.

7. Konica Minolta

8. Mimaki Engineering Co., Ltd. 

9. Roland GG Corporation

10. Durst Phototechnik AG

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Acetonitrile Market - Forecast (2024-2030)

Acetonitrile Market Size is forecast to reach $ 657.24 Million by 2030, at a CAGR of 5.90% during forecast period 2024-2030.Acetonitrile is a colorless chemical compound. It is the basic form of the nitrile family and can otherwise also be known as methyl cyanide or cyanomethane. There is no separate method of preparation for this compound, rather, the compound is prepared as a by-product of acrylonitrile. Acetonitrile is used extensively in the pharmaceutical industry for synthesizing new medicaments and vitamins. The market for acetonitrile is expected to witness a considerable growth during the forecast period. The compound is essential in the development of a number of pharmaceutical products. It is also used for synthesizing vitamins and pesticides. As of date, the vast majority of the production of these products is taking place in countries such as India and China. The demand is coming from the need for generic drugs in this region. India and China will also be the hub for the development of these generic drugs for the global market in the coming years and as such will be a key driver for the acetonitrile market. There is also a demand for acetonitrile from acrylic fibers and polyacrylamide. Following the APAC region, North America and Europe will be the respective leading contributors to the acetonitrile market in terms of consumption during the forecast period.

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The challenge for the market however is that as the compound is available as a by-product of another substance, it’s not present in large quantity which makes it currently quite expensive to purchase. In such a scenario, pharmaceutical companies would rather look at a compound which can obtain the same results at a cheaper cost and more importantly, be available in a large volume. Alternatives such as solvents can also be used in the pharmaceutical industry. Until such a time when the substance is available and consumed in large quantities, acetonitrile will continue to remain expensive and this is a key factor which will hinder its growth.

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The Acetonitrile market can be segmented by the following applications Pharmaceutical, Organic synthesis, Specialty chemicals, Extraction, HPLC solvents and Others. The Acetonitrile market can be segmented by the following end-user segments Pharmaceutical Industry and Others. The market has been segmented based on the following geographies North America, South America, APAC, Europe, Middle East and Africa.

As the compound is a by-product of the production of another compound, there are a large number of companies that are contributing to the acetonitrile market. 

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Sample Companies Profiled in this Report are:

Achemica

AlzChem AG

Asahi Kasei

BP Chemicals

CNPC Jilin Chemical Group

10+.

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Key Market Players:

The Top 5 companies in the Acetonitrile Market are:

Ineos Group Limited

Asahi Kasei Corporation

Nova Molecular Technologies

Filo Chemical

NeuChem

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Robotic Process Automation Market - Forecast(2025 - 2031)

Robotic Process Automation Market Overview

The Robotic Process Automation Market is estimated to reach USD22.14 billion by 2030, growing at a CAGR of 35.9% during the forecast period 2024-2030. Robotic process automation (RPA) is an automation software technology that makes it simple to design, deploy and manage software robots that resemble how people interact with digital systems and software. . Hyperautomation refers to the integration of various automation technologies, including RPA, artificial intelligence (AI), machine learning (ML), and process mining, to automate and optimize end-to-end business processes comprehensively. This trend involves expanding the scope of automation beyond routine, repetitive tasks to encompass complex, rule-based processes that involve decision-making and analysis. By combining RPA with AI and other advanced technologies, organizations can achieve greater efficiency, agility, and scalability in their operations, leading to increased productivity and cost savings. Intelligent automation involves the use of cognitive technologies, such as natural language processing (NLP), computer vision, and predictive analytics, to enable RPA bots to perform tasks that require cognitive capabilities. Cognitive RPA goes beyond rule-based automation by allowing bots to understand unstructured data, make decisions, and adapt to dynamic environments. This trend enables organizations to automate more sophisticated processes, enhance customer experiences, and drive innovation. By leveraging cognitive RPA, businesses can unlock new opportunities for growth and competitive advantage in an increasingly digital and data-driven world. 

Report Coverage

The “Robotic Process Automation Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Robotic Process Automation Market.

By Form: Attended Automation, Unattended Automation and Hybrid RPA.

By Solutions: Automated Software Solutions (Tools and Services, Software robot, Self-learning solutions, Rule-Based Operation, Knowledge-Based Operation, Cognitive automation, Enterprise software, Programmable RPA bots, Others), Decision Support Solutions and Interaction Solutions.

By Deployment: On-premises and Cloud.

By Organization Size: Small & Medium scale enterprises and Large scale enterprises.

By Application: Administration and reporting, Customer support, Data migration and capture, Data analysis, Compliance and Others.

By End-users: Aerospace and Defense, BFSI, Automobile, Food & Beverage, Retail, Governments, Education, Manufacturing, Transportation and Logistics, Telecommunication & IT, Energy and Utilities, Healthcare and Others.

By Geography: North America (the U.S., Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Others), APAC (China, Japan, South Korea, India, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa).

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Key Takeaways

The large-scale enterprise segment held the largest share with 70% in the RPA market by organization size, in 2021. The high adoption of RPA in large-scale enterprises is driven by the growing demand for automation processes in complex business processes to gain maximum productivity.

The Retail sector segment by end users in the Robotic Process Automation Market is expected to grow fastest at a CAGR of 38.2% during the forecast period 2022-2027. The high adoption of RPA in the retail sector is due to its rapid switch to digital modes for efficient management and tracking of business activities.

Asia-Pacific is expected to grow the fastest at a CAGR of 39.1% in the Robotic Process Automation Market during the forecast period 2022-2027. The widescale adoption of RPA in this region is driven by the increasing adoption of technologically advanced RPA systems for handling complex business processes.

The high adoption of RPAaaS to eliminate the licensing cost for RPA is driving the market growth.

Robotic Process Automation Market Segment Analysis - by Organization Size

The Robotic Process Automation Market by organization size has been segmented into small & medium scale enterprises and large-scale enterprises. The large-scale enterprise segment held the largest share with 70% in the RPA market by organization size, in 2022. The high adoption of RPA in large-scale enterprises is driven by the growing demand for automation processes in complex business processes to gain maximum productivity. The leading companies are adopting new strategies such as extended licensing terms and supplemental software items to improve the RPA already in use. In April 2022, FPT Software Company stated that it would be giving its current customers a free extension on the licensing of its product.

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Robotic Process Automation Market Segment Analysis - by End-users

The Robotic Process Automation Market by end users has been segmented into aerospace and defense, BFSI, automobile, food & beverage, retail, governments, education, manufacturing, transportation and logistics, telecommunication & IT, energy and utilities, healthcare and others. The retail sector segment by end users in the Robotic Process Automation Market is expected to grow fastest at a CAGR of 38.2% during the forecast period 2024-2030. The high adoption of RPA in the retail sector is due to its rapid switch to digital modes for efficient management and tracking of business activities such as accounting and finance, customer service management and customer behavior analysis. In July 2022, Comtec Information System in their report stated that the use of RPA in retail sectors can save more than $2 trillion in the global workforce.

Robotic Process Automation Market Segment Analysis - by Geography

The Robotic Process Automation Market by geography is segmented into North America, Europe, APAC, South America and RoW. Asia Pacific is expected to grow at the fastest CAGR with 39.1%, during the forecast period 2024-2030. The widescale adoption of RPA in this region is driven by the increasing adoption of technologically advanced RPA systems for handling complex business processes. In 2022, the Blue Prism report stated several organizations in this are adopting intelligent RPA technology that uses machine learning for more complex business processes. It also stated Australia topped the list of organizations using RPA in APAC followed by India with 78% and 49% respectively.

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Robotic Process Automation Market Drivers

The high adoption of RPAaaS to eliminate the licensing cost for RPA is driving the market growth.

RPAaaS eliminate the licensing cost for RPA. The RPAaaS enables zero cost for bot licensing as it is hosted on a cloud. It offers 100% faster deployment as no installation is required. The software will be also automated through the cloud automatically. This is expected to fuel market growth as the above factors will encourage more companies to adopt the technology. In July 2022, AutomationEdge a leading AI-powered IT automation and robotic process automation company in their report mentioned how RPAaaS will power the mid-market growth over the next few years.

The advancement in the latest technology like optical character recognition (OCR), machine learning and robotics process automation analytics is fueling the market expansion.

The latest technology such as optical character recognition (OCR), machine learning and robotics process automation analytics are integrated into the RPA. This led to the development of an intelligent automation system having Tools and Services & Decision Support solutions. This is expected to eliminate desk interaction by 40%, by 2025. In Jan 2022, an article published by NICE stated that OCR in RPA-enabled organizations is quipped to automate a large volume of operational business processes, particularly tasks that still depend heavily on scanned paperwork such as customer-completed forms.

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Robotic Process Automation Market Challenge

The lack of awareness among enterprises about the advantages of RPA can restrict the market growth.

Lack of knowledge among enterprises on the full potential of robotic process automation and reluctance to invest in the integration of the software are two major challenges to the Robotic Process Automation Market growth. Most organizations are unaware of the full potential of robotic process automation and how digital transformation can help reduce the overall cost for the company. In Jan 2022, Techwire Asia in their survey report stated that 47% of organizations have not implemented due to lack of awareness, budget constraints and privacy concerns

Robotic Process Automation Industry Outlook

Product launches, collaborations, and R&D activities are key strategies adopted by players in the Robotic Process Automation Market. The Robotic Process Automation Market's top 10 companies include:

 IPsoft, Inc.

Verint Systems Inc.

Blue Prism Group plc

Xerox Corporation

Redwood Software

FPT Software Ltd.

Kofax Inc.

NICE Ltd Inc.

UiPath

OnviSource, Inc.

Recent Developments

In August 2022, macami.ai a robotic process automation company launched a new intelligent automation system which explores the integration of robotic process automation and artificial intelligence.