Magnetic Beads Market Size Worth $7.50 Billion By 2030

 

Magnetic Beads Market Growth & Trends

The global magnetic beads market is expected to reach USD 7.50 billion by 2030, registering a CAGR of 11.6% from 2022 to 2030, as per a new report by Grand View Research Inc. This is attributable to the increasing applications of nanotechnology in different industry verticals, including electronics, automotive, and healthcare, packaging, and construction. Additionally, the market is witnessing broad in molecular biology applications owing to their easy-to-use property, minimal processing requirement, and reliability.

The global medical industry is anticipated to grow on account of various factors, such as the rapidly aging population, technological advancements, and the rising prevalence of chronic illnesses across the globe. For instance, cancer is one of the leading causes of death and a significant impediment to extending life expectancy globally. The growing prevalence of cancer has boosted the demand for diagnostics for cancer, thereby creating upswings for the magnetic beads demand.

The market growth was reduced due to the global outbreak of COVID-19 in developed countries such as Germany, France, and the U.K., among other regions. Additionally, with the spread of COVID-19, the demand for diagnostic centers and healthcare facilities increased to control the situation, which in turn, drove the demand for magnetic beads.

Magnetic beads have increasingly been adopted in many applications due to various applications of nanotechnology across multiple industry verticals. For example, medical apparatus can be made lighter, stronger, and durable using nanotechnology. In addition, increasing investments in genetic & microbiology research activities are expected to boost the demand for magnetic beads during the forecast period. For instance, nanoscale fabrics used in surface treatment of fabrics offer personal body armor from lightweight ballistic energy deflection, as well as resistance to bacterial growth, staining, and wrinkling.

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Magnetic Beads Market Report

Magnetic Beads Market Report Highlights

• The in-vitro diagnostics application segment held the largest market share of over 58% in 2021. The growth is attributed to the increasing applications of In-vitro diagnostics in the healthcare sector owing to its greater accuracy levels. An increase in demand for cellular study by various scientists and pharmaceutical companies to determine the physiological and chemical mechanisms within a molecule is further expected to increase the demand for magnetic beads.
• The bioresearch application segment of magnetic beads accounted for 32% of the total revenue in 2021, owing to the increasing applications in diverse fields, including biotechnology, biochemistry, and genetics. In addition, the use of magnetic beads in the diagnosis and targeted destruction of tumors by intercellular hyperthermia is further expected to fuel the magnetic beads demand during the forecast period.
• North America is projected to witness substantial market growth of 10.7% from 2022 to 2030. The countries in the region, including the U.S. and Canada, are heavily invested in medical and healthcare and are home to the best genetic research facilities in the world.
• The North American region is expected to have the largest market share of the total revenue in 2030 owing to the increased utilization of nanotechnology in biomedical for its unique properties offered by nanomaterials. Furthermore, growing emphasis on the use of magnetic beads in drug delivery and other biomedical is expected to positively impact market growth during the forecast period.
• The Asia Pacific region is expected to grow at a significant pace due to the rapid growth of the healthcare and diagnostics industries in the region. The growing need for the adoption of advanced diagnostic technologies due to the increasing prevalence of chronic diseases is expected to drive the magnetic beads demand.
• China and Japan have emerged as two major players in the Asia Pacific healthcare industry due to attractive government policies and regulations coupled with increasing expenditure in the medical industry. For instance, Japan is developing “National Strategic Special Zones” for neurologic, cardiac, and ophthalmic treatments. Such initiatives are expected to drive the growth of the market in the Asia Pacific.

Isostearic Acid Market Size To Reach $458.90 Million By 2030

 

Isostearic Acid Market Growth & Trends

The global isostearic acid market size is expected to reach USD 458.90 million by 2030, expanding at 6.9% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This is attributable to the surging demand for cosmetics and personal care products, the increasing shift toward sustainable and bio-based solutions, and the innovation and development of specialty chemical products.

Isostearic acid manufacturers are increasingly focusing on automation and process optimization to improve product quality, lower production costs, and improve efficiency. An increasing trend in the adoption of advanced process control systems, real-time monitoring, and automated equipment to streamline operations and reduce human error is expected to boost the growth of the market.

Collaboration between manufacturers, suppliers, and customers is becoming increasingly important in the isostearic acid industry. Supply chain integration and collaborative manufacturing allow effective resource sharing, resource sharing, and knowledge exchange. Close collaboration is expected to aid in the optimization of production processes, the improvement of supply chain efficiency, and the effective response to market demands.

The isostearic acid industry is witnessing significant growth on account of the growing demand for cosmetics and personal care products. Isostearic derivatives are commonly used in various cosmetic products including skin creams, moisturizing creams, shower gel formulations, hair conditioners, color cosmetics, and fine soaps, among others. It improves the texture and spreadability of cosmetic products and is also used as a stabilizer in cosmetic formulations. Isostearic acid has solubilizing properties; it can dissolve certain ingredients that are not easily soluble in water or oil. This allows for the incorporation of hydrophobic or lipophilic ingredients into cosmetic formulations, improving their efficacy and performance.

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 Isostearic Acid Market Report

Isostearic Acid Market Report Highlights

• Lubricants & greases application emerged as the fastest growing segment with a CAGR of 7.5% from 2023 to 2030, due to its unique properties and advantageous nature that makes the product suitable for its application in lubricants & greases
• Europe emerged as the fastest growing region with a CAGR of 7.6% from 2023 to 2030, because of the increasing inclination toward sustainable and environmental-friendly solutions
• Isostearic acid is utilized extensively in the production of lubricant and grease products due to its versatile nature, contributing to the desirable properties and performance of these formulations. The expanding industrial sectors, including manufacturing, construction, and transportation, are driving the demand for lubricant and grease products
• The pandemic has disrupted global supply chains, affecting logistics, transportation, and raw material availability. This interruption affected the distribution and production of isostearic acid and other related products
• The manufacturing companies undertake numerous strategic initiatives such as product launches, partnerships/collaborations, mergers & acquisitions, and seeking regulatory approval to strengthen their position in the global market.

Single-use Bioprocessing Probes And Sensors Market Worth $5.4 Billion By 2028

 

Single-use Bioprocessing Probes And Sensors Market Growth & Trends

The global single-use bioprocessing probes and sensors market size is expected to reach USD 5.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.9% from 2021 to 2028. The biopharmaceutical industry is witnessing an increase in the use of single-use technology for the production of biologics, biosimilar, and other biopharmaceutical products. As the need to reduce manufacturing costs is increasing, manufacturers are adopting the implementation of single-use equipment in their production workflow, in turn, boosting revenue growth.

Rising demand for improved bioprocess monitoring devices is another factor driving the market for single-use probes and sensors. Growing biopharmaceutical sector demands advanced sensors to cope with the regulatory norms that require increasingly detailed and complex measurement of processes. Thus, the demand for improved sensors that offer better results is also increasing.

Expanding usage of disposable systems has resulted in lucrative growth for operating players. Key players are making focused efforts to boost their business presence. OEMs are collaborating with independent single-use suppliers to fill the technological gap. Some key OEMs are integrating disposable sensors in their equipment used for various applications, thereby accelerating the adoption of products in this space.

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Single-use Bioprocessing Probes And Sensors Market Report

Single-use Bioprocessing Probes And Sensors Market Report Highlights

• Single-use pH and dissolved oxygen sensors are the most used disposable sensors in the bioprocessing industry. Products for pressure measurement have already become widely accepted and adopted
• In 2020, the pH sensor segment accounted for the major revenue share as these sensors can be deployed in nearly all the biological processes
• Single-use Dissolved Oxygen (DO) and pH sensors are being used in upstream applications, leading to the large revenue share of the segment
• Increasing application of disposable bioreactors in upstream biopharmaceutical production has driven the use of sensors in this segment
• In addition, the availability of various single-use systems for upstream bioprocessing further supplements segment growth
• Biopharmaceutical manufacturers have emerged as the key end-user of this market
• Increasing adoption of single-use technologies by CMOs is one of the key drivers for the growth of the biopharmaceutical manufacturer segment
• Geographically, North America dominated the market in 2020 owing to the presence of biopharmaceutical clusters and proactiveness of operating end-users in adopting new technologies
• Asia Pacific is expected to be the fastest-growing market over the forecast period, owing to the expanding biomanufacturing capabilities in Asian countries
• The key players are engaged in collaboration with therapy developers to support their product development process

Healthcare Contract Manufacturing Market To Reach $347.5 Billion By 2030

 

Healthcare Contract Manufacturing Market Growth & Trends

The global healthcare contract manufacturing market size is expected to reach USD 347.5 billion by 2030, expanding at a CAGR of 9.5% during the forecast period, according to a new report by Grand View Research, Inc. The changing regulatory landscape coupled with rising offshoring to emerging countries is anticipated to propel the healthcare contract manufacturing market growth over the forecast period. For instance, in June 2023, FUJIFILM Diosynth Biotechnologies announced to have a commercial office in Tokyo, offering contract development and manufacturing services for advanced therapies and biologics to Asian pharmaceutical and biotechnology companies.

Due to the emergence of infections, such as COVD-19 many organizations are attempting to accelerate production to meet the growing demand. Thus, these companies are appointing healthcare CMOs to speed up their production processes, as well as reduce their overall costs to meet the increasing demand for medical products. The worldwide effort to develop a vaccine and therapeutic agent against COVID-19 has created the greatest opportunity for many large as well as small CMOs as the pharmaceutical companies are manufacturing vaccine doses on large scale. Hence, the pandemic had a positive impact on this industry.

Increasing demand for advanced products is another factor driving the industry scale. Original Equipment Manufacturers (OEMs) are outsourcing the manufacturing activities of medical devices to third parties, mainly in developing countries to gain economic benefits. Furthermore, these regions are witnessing rising cases of chronic conditions such as heart disorders, thereby positively affecting the market growth. Changes in reimbursement schemes are some of the major factors anticipated to increase the adoption of cost containment measures by OEMs. For instance, to prevent reimbursement issues from impacting financing goals, device manufacturers are developing a well-planned reimbursement strategy in parallel with their regulatory and clinical strategies in the early phases of product development.

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Healthcare Contract Manufacturing Market Report

Healthcare Contract Manufacturing Market Report Highlights

• The pharmaceutical segment dominated the market with a share of 65.1% in 2022 owing to a low manufacturing budget and highly sophisticated contract manufacturing service offerings
• The medical devices segment is expected to be the fastest-growing segment with a CAGR of 9.7% owing to increasing pressure on OEMs to reduce costs and enhance the timeline for taking a product to market
• Cardiology is the dominant category in the medical device contract manufacturing segment, with a revenue share of 20.6% in 2022, owing to the rising demand for cardiovascular devices as a result of the increasing prevalence of associated heart conditions
• Asia Pacific is expected to witness lucrative growth of 10.6% from 2023 to 2030, owing to the presence of a large number of service providers, lower costs, and growing demand for medical devices in the region
• Based on end use segment, the pharmaceutical and biopharmaceutical companies category held the highest revenue share of 55.6% in 2022. High segment shares are mainly due to the increasing rate of biologics approval across the globe, thereby boosting demand for its bulk production contract manufacturing services

Nanomedicine Market Size To Reach $410.15 Billion By 2030

 

Nanomedicine Market Growth & Trends

The global nanomedicine market size is expected to reach USD 410.15 billion by 2030, expanding at 11.57% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The advantages of nanomedicine in numerous healthcare applications, the emergence of novel drug delivery technologies, and the rise in demand for safe and affordable treatments are all contributing to the expansion of the nanomedicine industry.

The adoption of nanomedicines is driven by the rise in the prevalence of chronic diseases like cancer and cardiovascular disease. Additionally, the demand for nanomedicine is expanding due to the growing elderly population, and the increase in patients with high blood pressure, obesity, and other cardiovascular diseases. For instance, as per the American Cancer Society, in 2022, an estimated 1.9 million new cancer cases and 609,360 cancer-related deaths were expected in the U.S. alone.

Furthermore, the need for nanomedicines to cure a wide range of illnesses has increased as a result of the COVID-19 pandemic. The development of new approaches for the detection, diagnosis, and cure of the COVID-19 virus as well as other viral infections was made possible by the development of nanomedicine applications. For instance, in November 2020, BioNtech and Pfizer announced the full results of the phase 3 clinical study for the COVID-19 vaccine. They rapidly manufactured vaccinations for testing and regulatory approval using a known technique for encapsulating therapeutic nucleic acid molecules in lipid nanoparticles. Additionally, due to an increase in activities for research and development for nanomedicines across all regions, fueling the market growth.

The developing technologies for drug delivery are important elements that are expected to accelerate the growth of the global market. Also, it is anticipated that the rising popularity of nanomedicine across a variety of applications will fuel the expansion of the nanomedicine industry. Furthermore, it is predicted that the increase in government funding and support will positively affect market growth in the coming years.

New potential opportunities for the expansion of the nanomedicine industry in the upcoming years will be provided by the rise in the out-licensing of nano drugs and the expansion of healthcare facilities in developing nations. Over the past few decades, the US FDA has authorized the commercialization of about 100 nanomedicine applications and devices. As a result, growing interest in nanotechnology’s potential medical use is a notable breakthrough in the medical field and further drives market growth.

The rising investment flow in R&D is also driving the nanomedicine industry growth. For instance, in August 2022, South Korea’s Life Science Fund declared an investment of over USD 14 million (19 billion won) in Senda Biosciences Inc., a U.S.-based biotechnology firm involved in the creation of nanoparticle-based drug delivery products. Such investments indicate promising growth opportunities for the nanomedicine industry in the near future.

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Nanomedicine Market Report

Nanomedicine Market Report Highlights

• By application, the drug delivery segment accounted for the largest share of 34.09% in 2022. The need for cutting-edge treatments for neurological conditions like Parkinson’s disease, brain tumors, and Alzheimer’s disease is expected to spur additional market expansion for nanomedicine-based drug delivery systems
• By indication, the clinical oncology segment held the largest share of 32.44% in 2022. The growing prevalence of cancer and the advantages of nanomedicines such as high sensitivity and improved therapeutic efficacy are promoting the segment growth
• By molecule type, the nanoparticlessegment held the largest share of 76.32% in 2022. The widespread use of metal & metallic oxides and the utilization of nanoparticles in various medical settings is expected to encourage market expansion in the forecasted years
• North America held the largest share of 49.91% in 2022. This can be attributed to the presence of a significant number of key players, as well as rising healthcare spending and federal assistance in the region

Home Fragrance Market Size To Reach $20.28 Billion By 2030

 

Home Fragrance Market Growth & Trends

The global home fragrance market size is expected to reach USD 20.28 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2023 to 2030. The increasing expenditure on home decoration is posing lucrative opportunities for home fragrance market. The use of home fragrance items to treat health issues like anxiety, depression, and attrition is growing as more consumers become aware of the scientifically established advantages of certain scents on mental health. This has also become the prominent factor to propel the market growth.

The customer desire for pleasant scent in their surroundings and the expanding air care industry have increased spending on these items, increasing demand for the worldwide market. The industry is also expected to be driven in the future years by rising demand for aromatherapy in homes. Spas are forced to use more scented candles than other scents since they can burn for the longest period possible and have lead-free wicks without additional colors and toxin-free characteristics. This is boosting the demand for home fragrance in the residential sector.

The sprays segment accounted for the maximum share of the market. The growing demand for these products in countries including the U.S, Germany, U.K, France, Spain, Italy, and other European countries owing to the incorporation of natural and eco-friendly ingredients, such as essential oils and plant extracts in sprays is expected to fuel the demand in the near future. For instance, Bath & Body Works, the popular bath and body retailer launched a new collection of home fragrance sprays called “Wildflower Blooms” in March 2021. The collection includes a variety of floral scents, such as lavender, honeysuckle, and jasmine.

The supermarkets and hypermarkets segment accounted for largest market share of the home fragrance market in 2022. Supermarkets and hypermarkets have a wide reach and are present in various regions, making them a convenient option for consumers to purchase home fragrance products. Moreover, supermarkets and hypermarkets often offer competitive pricing and promotions, making it an affordable option for consumers. In addition, retailers often use their large marketing budgets to promote home fragrance products through in-store displays, advertising, and promotional activities, further increasing consumer awareness and driving sales.

Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period. The growth is attributed to an increase in awareness, disposable income, and concerns over indoor air quality. Consumers are ready to spend money on these products due to improvement in their standard of living, which is attributed to rise in the middle class population.

The home fragrance market is consolidated in nature with the presence of a large number of international players and a few regional players like Reckitt Benckiser Group PLC, The Procter & Gamble Company, Seda France, S. C. Johnson & Son, Inc., Newell Brands Inc., Voluspa, Scent Air, NEST Fragrances, The Estée Lauder Companies Inc., Bougie & Senteur, and Bath & Body Works LLC.

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Home Fragrance Market Report

Home Fragrance Market Report Highlights

• Europe is expected to contribute a majority of the share to become the largest division in the global revenue in 2022. The demand for home fragrance for aromatherapy and decorative purposes in the European region is accelerating the market growth
• The scented candles segment is projected to register the fastest growth during the forecast period. Due to the development of high-end scented candles made with premium ingredients, such as essential oils and natural waxes
• During the forecast period, the online segment is expected to grow the fastest. The increasing availability of a wide range products of different brands, free delivery, and seasonal discount on e-commerce platforms are among the major reasons driving the segment

Axles Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

 The global axles market is expected to experience substantial growth over the forecast period. Stringent government norms to curtail emissions and fuel usage call for the development of efficient and light-weight vehicles, leading to research and development on vehicle components. Additionally, increased vehicle production increased safety and comfort demands from the consumers may also act as growth drivers over the forecast period. However, fluctuating raw material prices and healthy competition may pose challenges to the manufacturers.

Axles are a crucial part of automobile design and serve the tasks of load-bearing, steering, safety, comfort, and power delivery (live axles). Axle design directly affects the fuel efficiency and performance, leading to active research on these components.

Axles can be classified as live, dead, and tandem axles, and on their position in a vehicle. The tandem axles are a niche product segment limited to heavy load-bearing vehicles such as trailers. The demand for front and rear axles, however, continues to increase substantially owing to growth in the sales of automobiles post the 2008 economic depression. Axles find applications in heavy vehicles, luxury vehicles, economy vehicles, AWD (All Wheel Drive), and railways. The live axle market exhibits a high growth potential due to its increasing use in automobiles and continuous product development, although the market for railway bogie axles provides limited growth owing to lower development and replacement rates.

Car manufacturers work in collaboration with OEMs for desired design and specification, giving a high opportunity for innovations and growth. Axle manufacturers research different materials for improving the durability and strength while reducing the weight of the components leading to the bifurcation of industry suppliers and the creation of various supply chains. Collaborative developments between manufacturers and raw material suppliers may also lead to substantial industry growth. Factors such as the need for fuel-efficient automobiles and light-weight components also drive the research in the industry. However, automobile manufacturers face profitability issues due to the fluctuations in raw material prices, which may hinder growth.

The rear axle, being a vital component for support, comfort, and safety; exhibits a high growth potential and companies can capitalize on the continuous research and development by offering innovative products. Electronic Control Units (ECU) being employed in modern automobiles call for collaborative product developments for better integration and performance of the products. High focus on fuel efficiency and the need to curtail power loss has led manufacturers to invest in research.

Europe is expected to capture a sizeable market share of the global axle market. The North American Axle market, although saturated also provides growth opportunities owing to the advent of AWD vehicles. Active research on the drive train and computer control equipment lead to new designs and acts for the market. The Asian and African markets, with their growing population and increased disposable income, attract manufacturers with the availability of low-cost labor and infrastructure.

Key companies in the axle industry include Automotive Axles Ltd, Meritor, Rockwell American, GNA Axles Ltd, Daimler Trucks North America, and ROC Spicer Ltd. Companies opt for tie-ups with suppliers to source cost-effective raw materials and expanding manufacturing facilities in developing economies, such as China and India, with an aim to boost profitability by capitalizing on the availability of low-cost labor.

Steel Pipes & Tubes Market Worth $231.1 Billion By 2027 | CAGR: 6.2%

 

Steel Pipes & Tubes Market Growth & Trends

The global steel pipes & tubes market size is anticipated to reach USD 231.1 billion by 2027 registering a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Long-term demand for energy on the global level is anticipated to boost the market growth. According to the EIA, global energy consumption is projected to reach 736 quadrillion BTU by 2040 from 575 quadrillion BTU in 2015, witnessing an increase of 28%. The use of liquid fuels and petroleum is likely to grow from 90 million b/d in 2012 to 1000 million b/d by 2040 on a global level. The growth in demand for these liquid fuels is mainly due to the industrial and transportation sectors.

Steel tubes are used in different applications in the oil & gas sector, wherein they are used in conveyor belt rollers, concrete pilings, and bearing casings. Dimensions including straightness, roundness, diameter, and wall thickness are crucial while selecting steel tubes in the oil & gas sector. The oil & gas application segment is anticipated to remain the dominant application segment over the forecast period. However, with the emergence of the global pandemic, the prices of crude oil tumbled, which directly impacted the industry. In addition, due to the imposed lockdowns and shutdowns, the global oil rig count plummeted over the first quarter of 2020, thereby leading to a decline in demand for steel pipes & tubes.

As per the stats released by Baker Hughes, the global rig count in March 2020 was evaluated around 1,964 as compared to 2,213 in March 2019, a year on year (Y-o-Y) decline of nearly -11.3%. The emergence of coronavirus is projected to severely impact the dynamics of the industry over the short-term period. The key application segments including oil & gas, automotive & transportation, chemicals & petrochemicals, and others are projected to observe a negative trajectory in FY 2020 owing to the weakening of macro-economic factors and industrial operations.

Despite the rising content of steel in vehicles, the overall dynamics of the global automotive sector are under severe distress since 2018. Reducing sales volume coupled with weak macroeconomic trends led to the decline in production rate from 2018 to 2019. Since then, the dynamics of the global automotive sector further dampened with the emergence of COVID 19. Reduced production of automotive vehicles is likely to directly impact or restrain the growth of the global steel pipes & tubes industry.

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Steel Pipes & Tubes Market Report

Steel Pipes & Tubes Market Report Highlights

• ERW segment is projected to witness a growth rate of 6.1% from 2020 to 2027, in terms of revenue, on account of low price and modest performance of this technology
• Oil & gas accounted for the highest market share and is projected to register a significant CAGR during the forecast period
• The increasing number of oil rigs and consistent demand for petroleum products is the main contributing factor for the growth of the oil & gas segment
• North America is projected to record the second-fastest CAGR of 6.0% from 2020 to 2027, in terms of revenue
• Growing drilling activities and automotive sectors are likely to push the product demand in the North America regional market
• The global market is fragmented in nature with the presence of several global and regional companies operating in different parts of the world
• In 2018, ArcelorMittal invested in a new cut-to-length line for precision tubes in Karvina, Czech Republic. They are also investing in capacity expansions to meet the growing product demand

Waterjet Cutting Machine Market To Reach $1,289.2 Million By 2030

 

Waterjet Cutting Machine Market Growth & Trends

The global waterjet cutting machine market size is expected to reach USD 1,289.2 million by 2030, expanding at a CAGR of 3.7% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. The demand for cutting components with high accuracy and quality edges is predicted to increase across a variety of application industries, fueling the waterjet cutting machine industry expansion. The development of the market is projected to be fueled by improvements in production techniques and rising consumer demand for cutting-edge technology.

Additionally, the waterjet cutting machine industry is expected to grow due to the increasing demand for proficient waterjet cutting machines that offer higher performance and throughput along with the capacity to cut thicker materials, better part edge quality, and fast cutting speeds. The demand for NC and CNC metal-cutting equipment that offers flexibility is likely to be driven by factors such as a growing skills gap combined due to a shortage of skilled workers. Furthermore, a growing emphasis across industries on automation technology to enhance production performance and efficiencies, driving the growth of the waterjet cutting machine industry.

Many industries have adopted waterjet cutting devices as a result of technological advancement and innovation. 3D robotic and micro, waterjet cutting machines are some of the key advancements that help end users increase their output and deploy precise cutting operations. Manufacturers of these machines are currently on the market and offer robotic automation for waterjet cutting to the automotive, textile, aerospace, and electronics industries to produce weld test samples are further driving the waterjet cutting machine industry growth.

Asia-Pacific is anticipated to account for the largest share of the global waterjet cutting machine industry for waterjet cutting machines during the forecast period. This is due to the increasing investment in the manufacturing industry and the expanding automotive and construction industries. Additionally, Asia Pacific is home to the manufacturing sector, which includes consumer goods, electronics, and machine tools. Additionally, the presence of developing nations like China and India is fostering waterjet cutting machine industry expansion.

Similarly, North America is also experiencing rapid expansion in the waterjet cutting machine industry. Growing investments in the aircraft, automotive, metal cutting, furniture, and glass industries, as well as the presence of key market players in the United States and Canada, are likely to boost market expansion over the forecast period. Furthermore, rising investments in developing advanced waterjet cutting machines, expanding end-use industries, and an increase in the number of construction and infrastructure development projects in North America are expected to drive the growth of the waterjet cutting machines industry during the forecast period.

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Waterjet Cutting Machine Market Report

Waterjet Cutting Machine Market Report Highlights

• During the forecast period, the robotic waterjet cutting machines segment in the product segment is likely to grow at the highest CAGR of 4.6 %. The product’s capacity to precisely and accurately cut a variety of metals, both ferrous and non-ferrous presents a major opportunity for growth
• The aerospace & defense application is expected to register the highest CAGR of 4.3% in 2023–2030. Due to increasing passenger and military spending, which is certain to boost the manufacturing of both commercial and military aircraft
• Throughout the forecast period, the automotive sector is expected to register the second-highest growth rate. Growth in the automotive and manufacturing sectors, a rise in industrial automation, and expanding technical advancements

Coated Fabrics Market Size Worth $33.57 Billion By 2030

 

Coated Fabrics Market Growth & Trends

The global coated fabrics market size is expected to reach USD 33.57 billion by 2030, expanding at 6.2% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increase in safety measures in the transportation application is likely to positively influence the growth of coated fabrics during the forecast period. Additionally, the strict regulatory requirements for worker safety driving the protective clothing segment are also expected to act as a key determinant that will favor the growth of the market.

Polymer-coated fabrics are expected to dominate the market owing to the surging demand for airbags in automobiles and increased demand for protective clothing. The demand for polymer-coated fabrics is expected to increase significantly by 2030 owing to the increasing demand for automobiles in Asian countries such as China and India. In addition, growing safety concerns and stringent government regulations meant for providing safety to workers in Industrial operations are expected to increase the market share of polymer-coated fabrics over the next six years.

Transportation is the largest application with a total market share of 34.8% in 2022. It continues to serve as the largest application owing to the increasing demand for automobiles coupled with the infrastructural developments meant for railway and metro-rail stations. The infrastructural developments are expected to accelerate the demand for upholsteries and fabric products used in railway bridges and mass transits.

These products are used in transportation applications in airbags, seat covers, truck covers, and upholsteries. The strong market demand in the transportation sector is mainly due to the increasing automobile sales over the past few years coupled with the infrastructural development of rail and roadway bridges.

The fragmented market structure results in low competitiveness among key participants. Major companies have integrated operations, which has brought about a degree of consolidation in the market. Industry rivalry is expected to be medium over the forecast period, particularly with increased consumption in China and India. The market is mainly dominated by Omnova Solutions; Saint-Gobain; and Takata Corporation, amongst others.

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Coated Fabrics Market Report

Coated Fabrics Market Report Highlights

• Rubber coated fabrics segment was the second largest market with 9.3% of the total market share in 2022 owing to the rubber’s flexibility and resistance to degradation. However, a large number of polymer coating applications are being replaced by rubber but on account of the surging demand for automobiles, the manufacturers are not going to shift their coating material from polymer to rubber
• Fabric-backed wall coverings held 7.1% of the total market share in 2022. This type of coated fabric is mainly used for residential and non-residential structures. The demand for fabric-backed wall coverings is mainly driven by increasing residential and non-residential structures coupled with increasing urbanization. The fabric-backed wall-covering segment is expected to register marginal growth owing to the increase in urban population coupled with infrastructural development in the housing sector
• The protective clothing application segment was valued at USD 2,302.1 million in 2022 and is expected to reach USD 3,918.2 million by 2030, growing at a CAGR of 6.9% from 2023 to 2030. The demand for coated fabrics is increasing owing to the growing usage in aprons, chemical and hazardous material suits, clean room clothing, cut- and slash-resistant clothing, gloves, footwear, reflective clothing, and space suits. The growth in demand for coated fabrics in protective clothing is largely due to various government initiatives and rising awareness about ensuring worker safety in the industrial environment
• Coated fabrics are used in the production of a variety of interior and exterior upholstered furniture, including kitchen chairs and benches, and patio furniture. Coated fabrics are used as furniture upholstery to provide a durable, stain-resistant, and easy-to-clean surface in a variety of colors, patterns, and textures. The increasing living standard of consumers globally is expected to augment the market demand for furniture applications

Surgical Equipment Market Size To Reach $31.58 Billion By 2030

 

Surgical Equipment Market Growth & Trends

The global surgical equipment market size is expected to reach USD 31.58 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.4% from 2023 to 2030. The growing geriatric population, a rise in the volume of surgical procedures, technological advancements, and an increase in awareness regarding the benefits of early surgical intervention are expected to drive the market.In addition, growing disposable income in developing countries and rising demand for minimally invasive surgeries are expected to propel the growth of the market over the forecast period.

The rise in the prevalence of chronic diseases is another major factor that is expected to fuel the growth of the market. The increasing shift towards a sedentary lifestyle and a rise in the consumption of processed foods are leading to an increase in the prevalence of chronic diseases such as cardiovascular disorders. Thus, this is expected to have a positive impact and is anticipated to lead to a rise in the demand for surgical equipment over the forecast period

The market observed a sudden fall in the sales of surgical equipment during the first half of the pandemic. Postponement of elective surgeries, reduced hospital visits that resulted in delayed diagnosis, and disruption in the supply chain due to the lockdowns and restrictions imposed to curb the spread of the virus had a negative impact on the market. However, with the world returning to normalcy, the market is recovering at a very fast pace and is expected to grow significantly over the forecast period.

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Surgical Equipment Market Report

Surgical Equipment Market Report Highlights

• Based on product, the surgical sutures and staplers segment dominated the market in 2022 due to its high adoption in wound closure
• On the basis of application, the obstetrics and gynecology segment held the second-largest revenue share in 2021 due to the rising childbirths and female reproductive organ disorders
• North America accounted for the largest revenue share in 2022 due to the presence of a well-established healthcare infrastructure
• The Covid-19 pandemic had a negative impact on the market. Postponed surgical procedures due to the lockdowns and restrictions led to a sharp fall in the sales of surgical equipment

Cell And Gene Therapy Clinical Trials Market Worth $24521.8 Million By 2030

 

Cell And Gene Therapy Clinical Trials Market Growth & Trends

The global cell and gene therapy clinical trials market size is expected to reach USD 24521.8 million by 2030, registering a CAGR of 14.80% during the forecast period, according to a new report by Grand View Research, Inc. Cell and gene therapy (CGTs) signify the next great movement of therapeutic innovation and have resulted in the development of promising therapies around the world. Although a few of the early therapies have got marketing approval in the U.S., there are numerous promising therapies in development across the world. During the pandemic, the majority of clinical studies were focused on COVID-19. However, owing to the decline in COVID-19 cases, the market players are now shifting their focus to the development of CGTs.

For instance, in February 2022, the life sciences company, Cytiva, collaborated with NecstGen to develop gene therapies. Such collaborations are likely to promote market growth post-pandemic. The market has witnessed significant growth over the past few years, with a rise in the CGT pipeline. As reported by Global Data, in March 2021, over 2,400 CGT drugs were in the pipeline, whereas in 2020 there were over 551 CGT drugs in the clinical phase. In addition, investment is rolling into companies of various types, ranging from startups to major acquisitions by significant biopharmaceutical companies. In 2019, 19 deals of M&A worth over USD 156 billion were completed.

The largest of these was the acquisition of Celgene and its pipeline of numerous cell therapy assets for oncology treatment by Bristol-Myers Squibb for USD 74 billion. Such deals are likely to improve the market growth as CGT is gaining popularity in the treatment of life-threatening diseases. Research funding in CGT has improved in the post-pandemic period. For instance, in January 2022, researchers at the University of York received a grant of USD 3.1 million to support stem cell gene therapy research to treat sickle cell disease. In March 2022, researchers at the Indiana University School received funding of USD 12 million to develop safe gene therapy for treating hemophilia. Such investments are likely to have a positive impact on market growth.

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Cell And Gene Therapy Clinical Trials Market Report

Cell And Gene Therapy Clinical Trials Market Report Highlights

• The phase II segment accounted for the largest share in 2022 owing to a large number of therapies currently in development in phase II
• The oncology indication segment accounted for the largest share in 2022 as a high number of CGT trials are focused on the treatment of cancer
• North America dominated the global market in 2022. This is largely attributed to a large number of clinical trial activities in the U.S. and favorable government support
• Asia Pacific is expected to register the fastest CAGR over the forecast period owing to the increasing number of biotechnology companies focusing on CGTs

Tele-ICU Market Size Worth $6.1 Billion By 2026 | CAGR: 16.7%

 The global tele-intensive care unit market size is expected to reach USD 6.1 billion by 2026, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.7% over the forecast period. Increase in demand for remote patient monitoring with ever-rising old age population, coupled with technological innovations, is the prime factor responsible for the tele intensive care unit (ICU) market growth. As per statistics published by the National Institutes of Health (NIH), in 2016, around 617.0 million people were aged above 65, accounting for 8.5% of the global population.

Moreover, the world report on aging published in 2015 stated that 17.0% of the global population would be above 65 by 2050. In U.S., the population aged 65 or above is expected to reach 88 million by 2050. Old age people are more prone to health-related issues, so hospitalization rate is high in this age group, which may lead to surgeries and use of ICU units.

Tele incentive care unit increases efficiency in healthcare delivery, streamlines clinical decision time, and enables real-time access for the patient’s health records. This, in turn, boosts demand for the tele intensive care unit enabled services. In addition, the advantage of implementing tele intensive care unit is the reduction in hospital stays and decrease in the overall costs incurred by the patients. However, major obstacles in the market growth are low adoption of technology and high implementation costs of the system.

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Further key findings from the study suggest:

• The hardware component products emerged as the largest segment in 2018, accounting for a share of 86.2%, owing to technical innovations in the components. Physiological monitors held the largest share in the hardware segment. The software segment expected to register the highest CAGR of 18.7% over the forecast period
• North America dominated the market with the largest share in 2018. Regulatory requirements in this region are fueling the market growth. The presence of super specialty hospitals, growing adoption, and awareness among consumers are favoring market growth in the region
• Asia Pacific is expected to witness substantial growth owing to unmet needs of the huge population base and improving healthcare infrastructure
• Some of the players operating in the market are Advanced ICU Care, Banner Health, InTouch health, Philips, iMDsoft, UPMC Italy, INTELEICU, Tele ICU, INOVA, and VISICU.

Europe Passive Fire Protection Market Worth $1,498.04 Million By 2030

 

Europe Passive Fire Protection Market Growth & Trends

The Europe passive fire protection market is expected to reach USD 1,498.04 million by 2030, registering a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. Favorable fire safety regulations coupled with rising demand for fire protection in steel, oil and gas, and construction industries are likely to drive the market.

The construction of buildings is changing as new building designs usually feature open spaces with few barriers. In addition, buildings are becoming increasingly airtight and insulated with more combustibles within the building structure. These changes cause a fire in buildings that spread faster and become more hazardous, thereby driving the market.

In most European countries, the national government establishes fire regulations, which are usually in line with the regulations proposed by the European Union. With the amendments to the Regulatory Reform Order and introduction of CE marking, the construction industry in Europe has witnessed an increased demand for effective and compliant fire protection products.

The rapid spread of the COVID-19 in Europe resulted in containment measures in almost the entire region. This resulted in restrictions on construction activities, i.e., either complete or partial shutdowns. Since, the market is directly related to its penetration in construction activities, a downturn in the industry is anticipated to restrict the market growth.

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 Europe Passive Fire Protection Market Report

Europe Passive Fire Protection Market Report Highlights

• Intumescent coatings product segment is estimated to witness a CAGR of 4.3% over the forecast period, owing to the rising product demand attributed to their lightweight, faster-drying properties, and the ability to attain attractive finish along with their suitability for offsite applications
• The demand for passive fire protection in the oil and gas industry is expected to witness a CAGR of 3.7% over the forecast period owing to the rising investments by oil and gas companies in E&P activities and set up of new refining capacities in the region
• Germany led the market and accounted for the largest revenue share of 24.1% in 2022.
• In France, the market for passive fire protection is expected to witness a CAGR of 4.6% over the forecast period.

Rolling Stock Market Worth $96.58 Billion By 2030 | CAGR: 6.0%

 

Rolling Stock Market Growth and Trends

The global rolling stock market size is expected to reach USD 96.58 billion by 2030 with a CAGR growth of 6.0% from 2023 to 2030 according to a new report by Grand View Research, Inc. From transporting goods such as raw materials to industrial equipment and passenger’s rolling stock plays a multi-functional role worldwide. Considered to be a cost effective mode of transport coupled with factors such as comfortable travel, and reliability have proliferated the uptake of rolling stock by end-users. For instance, in November 2022, Alstom announced a new maintenance agreement with the Panama Metro (MPSA), a rapid transit system in Panama City that covers both corrective and preventive maintenance of Line 2 of the Panama Metro’s rolling stock, signaling, and power supply system. According to the conditions of the agreement, Alstom will hire, prepare for, and train all Panamanian experts and specialists to handle the services.

Rolling stock generally uses electricity or diesel as its power source. However, owing to rising crude oil prices and environmental concerns over carbon emissions, electricity powered rolling stock is seen as an alternative to diesel-operated rolling stock. Government agencies of the countries such as India, South Korea, Norway and Canada pivot towards complete electrification of railways. Thus, prompting heavy investments from private entities and government bodies for the development and expansion of rolling stock and its infrastructure are driving the global rolling stock market growth. For instance, in November 2022, Alstom announced a contract with Chennai Metro Rail Limited. Chennai Metro Rail Limited had placed an order with Alstom for 26 three-car autonomous trains worth 9,460 USD million. This is a clause of the Phase-2 Rolling Stock Contract agreement that the two parties have agreed upon. This contract’s scope of work includes the design, manufacture, supply, testing, commissioning, training of staff, provision of spare parts, and fault liability for 26 standard gauge autonomous metro rolling stock.

Moreover, several private and government players are integrating Artificial Intelligence (AI) and data analytics methods such as predictive analytics to anticipate maintenance schedules, accumulate data on speed to create a real-time schedule, and track location. The emergence of automated trains, hydrogen fuel-based and battery-operated rolling stock is further impacting the market growth-hydrogen-powered train shares the benefits of being cost-effective, eco-friendly, and high-performance with electricity-operated rolling stocks. These technological advancements are anticipated to boost the demand for the overall rolling stock market.

Rising population density is contributing to the accelerating growth of the rapid transit vehicle. Rapid transit vehicles are affordable, efficient, reliable, and faster, making their fleet suitable for the urban and rural population’s commute. Therefore, the increasing inclination of daily commuters toward public transport such as rapid transit vehicles and passenger trains is prompting government and private players to invest heavily in the development of railway infrastructure, proliferating the rolling stock market growth. For instance, in October 2022, TrinityRail received a USD 1.8 billion railcar supply deal from GATX, a railcar leasing company. The protracted contract states Trinity Rail will provide 15,000 freshly constructed tank and cargo railcars over six years. Additionally, GATX has the choice to order an extra 500 railcars each order year. According to the terms of the agreement, TrinityRail will provide 6,000 tank cars between 2024 and 2028 at a rate of 1,200 vehicles per year. A mixture of 9,000 passenger and tank trains will be ordered from 2023 to 2028 at a pace of 1,500 cars yearly; the delivery timetable for this order has yet to be determined.

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Rolling Stock Market Report

Rolling Stock Market Report Highlight

• The demand for electric based rolling stock and rapid transit vehicles are witnessing a demand increase due to features such as cost effectiveness, speed, and reliability.
• Government and private players worldwide are investing in strengthening and improving railway infrastructure owing to an increasing inclination towards railways.
• Alternative fuel sources such as hydrogen and battery operated rolling stock is further driving the demand for rolling stock. Automated trains with the implementation of AI and data analytics are also contributing to the demand for rolling stock.

Commercial UAV Market To Reach $41,781.7 Million By 2030

 

Commercial UAV Market Growth & Trends

The global commercial UAV market size is estimated to reach USD 41,781.7 million by 2030, registering a CAGR of 19.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The significant growth can be ascribed to a considerable increase in the application of commercial UAVs across several industry verticals globally. UAVs are being extensively utilized across various domains, including construction, agriculture, media, entertainment, retail, government, and energy, among others.

Commercial UAVs were initially developed for the military and aerospace industries. However, they are being increasingly adopted as an entertainment tool for capturing high-quality and innovative videos and footage of events, natural landscapes, or urban landscapes. Moreover, they are also finding critical applications across businesses and industries to create better and more efficient processes, thereby creating new growth avenues for the market for commercial UAVs.

The commercial applications of drones are not limited to simple surveillance or footage. In the construction sector, they are used in real estate, land development, and civil engineering projects. They help in expediting the topographic surveying process comprising land planning, development, and management. In the agriculture domain, commercial UAVs allow farmers to efficiently manage their farms and collect important data related to crops in real time.

As commercial UAVs transform conventional business and industrial processes, they are set to create new ways for smart AI-powered operations for increased productivity. In December 2022, innovative logistics company Drone Express partnered with Microsoft to release the latest version of their DE-2020 drone using artificial intelligence for in-flight navigation systems. As part of this strategic initiative, the delivery drones will be equipped with Microsoft Azure to host the AI solutions and leverage Azure Machine Learning to train machine learning models.

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Commercial UAV Market Report

Commercial UAV Market Report Highlights

• In terms of product, the rotary blade segment accounted for over 68.0% of the revenue share in the market for commercial UAVs in 2022, owing to increasing demand driven by its easy maneuverability and compact design
• In terms of application, the government segment is estimated to record a CAGR of 22.3% over the forecast period, owing to the increasing application of UAVs in areas such as law enforcement, security and surveillance, R&D activities, disaster management, and environmental studies
• North America is expected to expand at a notable CAGR over the forecast period, aided by the strong presence of various major drone manufacturers in the region, coupled with a sharp increase in their commercial applications
• Major participants in the market such as AeroVironment Inc., DJI Innovations, Elbit Systems Ltd, Parrot SA, and Textron Inc. focus on strategies such as mergers & acquisitions and new product launches to strengthen their foothold

Iron Casting Market Worth $172.66 Billion By 2030 | CAGR: 6.1%

 

Iron Casting Market Growth & Trends

The global iron casting market size is expected to reach USD 172.66 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% over the forecast period. The increasing investments in the infrastructure & renewable energy industry are expected to propel the demand for the product.

Iron castings are produced by pouring melted cast iron into casts or molds to make products of desired shape and size, via various methods such as sand and investment casting. Different product types available in the market include gray, ductile, and malleable, which are used according to their application requirements.

Based on product, gray cast iron held the largest revenue share of the global market in 2021, and this trend is expected to continue across the forecast period. It is preferred owing to the benefits it offers such as abrasive resistance, vibration damping capacity, and better castability than other types. The product is used for making machine tool bases, soil pipes, automobile engine blocks, and internal combustion engine head manifolds.

Based on region, Asia Pacific held the largest revenue share of the global market in 2021. In the region, China was the key market in 2021 but India is expected to register the fastest growth rate across the forecast period. The increasing demand for the product from various industries such as railways, renewables, machines & tools, and infrastructure is propelling competition in the region.

In February 2022, Bharat Forge announced the acquisition of JS Autocast Foundry India, a manufacturer of ductile iron castings for hydraulics, wind energy, automotive, and off highways. The acquisition is anticipated to help Bharat Forge expand its product portfolio as well as manufacturing presence.

The global market is highly competitive in nature. Key players in the industry are carrying out mergers & acquisitions for the development of their business. For instance, In November 2021, Wisconsin-based Charter Manufacturing acquired Aarrowcast Inc., a gray and ductile iron casting manufacturer. Aarrowcast Inc. has a production capacity of 42,000 tons per year. This acquisition is expected to help Charter Manufacturing to expand the manufacturing of its metal offerings and diversify its customer base.

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Iron Casting Market Report

Iron Casting Market Report Highlights

• Based on the product, ductile cast iron is anticipated to register the fastest CAGR of 6.4%, in terms of revenue, from 2022 to 2030. The product is preferable in various end-use industries such as automotive, water system & sanitization, and renewables as it offers higher toughness and strength than gray cast iron.
• Based on application, the railway is expected to grow at a CAGR of 7.4%, in terms of revenue, across the forecast period. This growth is attributable to increasing investments by countries to develop their rail infrastructure to promote transportation of goods via rail and improve connectivity.
• Based on region, North America is expected to register a CAGR of 5.5%, in terms of revenue, over the forecast period. Rising emphasis on shifting towards renewables, investment in railways, up-gradation & development of water system & sanitization, and advancement of machines & tools is expected to drive the market growth in the region.

Ferroalloys Market Worth $73.9 Billion By 2028 | CAGR: 7.1%

 

Ferroalloys Market Growth & Trends

The global ferroalloys market size is expected to reach USD 73.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.1% from 2021 to 2028. Products such as ferrochrome are projected to attract significant demand on the account of rising stainless steel usage in the building and construction sector.

Stainless steel facilitates strength and support to the building structure owing to its high durability. Adequate support structures such as lintels, wind posts, wall starters, and masonry are manufactured from stainless steel during the construction of a building. Primary stainless steel products used in the building and construction industry are plates, sheets and strips, and wires. In addition to its structural application, stainless steel imparts an aesthetic feel to the building to create a pleasing visual appearance.

The U.S. construction industry is projected to ascend at a CAGR of 5.0% by 2030. A significant upgrade in infrastructure is anticipated to emerge as a key factor contributing to the growth of the U.S construction output. European countries are also registering progress in the construction industry. The U.K. is anticipated to emerge as the largest construction market in Europe and is expected to overtake Germany by 2030. Several mega projects undertaken by the U.K. government are anticipated to fuel the construction industry in the country.

A decline in ferroalloy production in some regions such as North America is projected to create a critical impact on the expansion of the market. Factors such as higher environmental and labor costs, the shift of production plants in other countries, low-priced imports, and power supply costs have hampered North American ferroalloy production in the recent past.

Investments in ferroalloy production plants are projected to benefit market growth. For instance, in September 2020, Indian company MOIL announced an investment of USD 57.0 million for the construction of a ferroalloy production plant at its sites. The project is likely to construct in Balaghat, Madhya Pradesh, India with an estimated output of 50,000 metric Kilotons per year.

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Ferroalloys Market Report

Ferroalloys Market Report Highlights

• In terms of both volume and revenue, Asia Pacific is anticipated to remain the fastest-growing market over the forecast period. The market is anticipated to grow on the account of huge steel production in countries such as China, India, Japan, and South Korea
• China Baowu Group, Nippon Steel Corporation, HBIS Group, POSCO, and Shagang Group were the leading steel producers in 2019 and reported production of 95.47, 51.68, 46.56, 43.12, and 41.10 respectively
• The ferrochrome segment is projected to witness a CAGR of 7.0% from 2021 to 2028, in terms of revenue. Rising demand for stainless steel in industries such as automotive, building and construction, aerospace, and types of machinery is anticipated to boost the growth of the segment
• The carbon and low alloy steel segment dominated the application segment and accounted for a revenue share of over 45.0% in 2020. The growth of this segment is characterized by its demand in structural engineering plates, pipes, railway lines, and aerospace bodies

Hydrocolloids Market Worth $17.83 Billion By 2030 | CAGR: 6.0%

 

Hydrocolloids Market Growth & Trends

The global hydrocolloids market size is expected to reach USD 17.83 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2023 to 2030. Hydrocolloids find application in radiology as a suspending agent, suppositories, slow-release capsules, emulsions, surgical lubricants, and as a carrier of topical medicaments, which is expected to drive the market growth.

Rapid urbanization coupled with improved consumer lifestyle with more emphasis on healthy, diet-friendly, nutritious, and natural products is fueling the demand for convenience and packaged foods, which, in turn, is likely to propel product consumption. Additionally, growing consumer awareness regarding the benefits of nutritional food is further propelling the demand for hydrocolloids in developing countries, such as China and India.

Europe and North America are projected to play a substantial role even after losing their market share to Asia Pacific and Latin America. Asia Pacific and Latin America are expected to accomplish the highest gains in near future. A large number of health-conscious individuals are embracing a healthier lifestyle with the foremost importance on the healthy food choices offered by various food and beverage companies.

The key players in the hydrocolloids market are inclined towards new product launches, which is expected to augment the growth. In August 2018, Cargill announced its plans to invest USD 150 million in Brazil’s production facility to keep up with the increasing demand for pectin.

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Hydrocolloids Market Report

Hydrocolloids Market Report Highlights

• Growing demand for processed food due to the convenience is expected to positively impact the hydrocolloids market in the forthcoming years
• The processed foods market has seen healthy growth in the recent past and is projected to witness high growth in the near future
• The ability of hydrocolloids to reduce the fat content by dispersing water and acting as a fat replacer in food products is expected to propel their demand as consumers are increasingly preferring low-fat and low-calorie food products
• The shortage of resources and vulnerability to seasonal changes cause volatility in raw material pricing propelling manufacturing costs and limiting the market growth
• The rise in population coupled with rising disposable income translates into an enhanced standard of living, particularly in developing regions. This is anticipated to result in a steady growth in demand for specialty and processed food products.

Europe Carpet Market Size Worth $73.89 Billion By 2030

 

Europe Carpet Market Growth & Trends

The Europe carpet market size is expected to reach USD 73.89 billion by 2030 to expand at a CAGR of 4.3% from 2023 to 2030 according to a new report by Grand View Research, Inc. The growing application of the product in residential and non-residential sectors on account of its high market visibility for soft flooring products and good insulation properties, such as floor insulation, is projected to positively influence the market growth.

Woven carpets offer designers, architects, and end-users’ distinctive advantages over other flooring options in terms of aesthetics, value, and performance. These strong woven carpets are either made by hand or a machine, but both processes typically use the same method. The growing interest toward handmade woven products is one of the reasons for booming trends.

The high demand for residential and non-residential applications in various countries, including Germany, France, Russia, Italy, and the U.K., will fuel the product demand for Europe market in the next few years. This could be attributed to the heavy deployment of carpets as flooring materials in production units, commercial firms, and non-residential offices across Europe.

Germany is the main leader in imports, accounting for around one billion euro worth annually. The key market drivers include development in the transportation and construction industries, along with rise in renovation activities. Also, the buyers are increasingly moving towards attractive and bold colors and non-geometrical exclusive patterns, which also aids to drive demand in the market.

The rising trends include an increase in the demand for eco-friendly products, growing acceptance of carpet tiles, and inclination towards contemporary area carpets. Furthermore, the demand for exclusively high-quality handmade products will remain high, therefore the industry is expected to witness growth in regional markets for the next few years.

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Europe Carpet Market Report

Europe Carpet Market Report Highlights

• Propylene fabrics have witnessed a rise in demand for durable applications, including geotextile, automotive, and construction industries, mostly in China and India. Furthermore, the growing elderly population mainly in the U.S., Japan, and Europe will possibly spur fully-grown incontinence product demand, which in turn, is projected to drive the propylene non-woven textile market over the coming years.
• Tufted segment dominated the Europe market, accounted for over 49.52% of the overall volume in 2022. Adhesives and other pigment materials are used in them to enhance the mechanical strength of the fiber. Also, they can be molded into different textures and sizes, which, in turn, is expected to have a positive impact on European market growth over the forecast period.
• Demand in residential application accounted for USD 33,363.6 million in 2022 and is expected to reach USD 43,430.6 million by 2030, growing at a CAGR of 3.4% from 2023 to 2030. Demand in residential application is likely to exhibit high growth on account of rising housing completions at a double-digit pace soon. Carpets are installed in newly constructing residential places owing to their reasonable cost, favorable aesthetics, and ease of installation. The residential replacement segment will witness growth owing to consumer’s tendency to replace the older carpet with the new one.
• Increasing demand for used polyester fiber is one of the key drivers in the market. European buyers are gradually opting for sustainable fabrics, which are made from reused materials. Rising awareness regarding environmental protection is the main factor enhancing the demand for viable textiles. Accessibility of sustainable clothing in a varied range of bright colors, attractive prints, and stylish designs is further supplementing the product demand.