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GCC Bakery Ingredients Market Overview

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It is regarded as the basic food for nutrition that is available in various varieties in the market such as sweetener, leavening agent, enzymes, emulsifier, preservative, and baking powder among others. Increasing incidences of chronic diseases, increasing demand for gluten free products, and increasing health conscious consumers are the major factors driving the growth of the market. Rising incidences of the malnutrition, increasing concerns regarding fitness, and lack of vitamins intake is set to further enhance the overall market developments of the GCC Bakery Ingredients Market for the period 2021–2026.

Report Coverage

The report: “GCC Bakery Ingredients Market Forecast (2021–2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the GCC Bakery Ingredients Market.

By Ingredients Type: Sweetener, Leavening Agent, Enzymes, Color & Flavor, Emulsifier, Preservative, Baking Powder, and Others.

By Form: Fresh, and Frozen.

By Nature: Conventional, and Organic.

By Applications: Bread, Cake & Pastry, Roll & Pie, Cookie & Biscuits, and Others.

By Country: Saudi Arabia, UAE, Qatar, Bahrain, Oman, and Kuwait.

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Key Takeaways

Saudi Arabia dominated the GCC Bakery Ingredients Market in 2020 owing to the increasing incidences of diseases and increasing health concerns. The GCC Bakery Ingredients market scope for different regions will be provided in the final report.

Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diets are likely to aid the market growth of the GCC Bakery Ingredients Market report.

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

Lack of awareness regarding the products and stringent regulations is poised to create the hurdles for the GCC Bakery Ingredients Market.

GCC Bakery Ingredients Market Revenue Share, By Country, 2020(%)

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GCC Bakery Ingredients Market Segment Analysis — By Ingredients Type

Baking Powder held the largest share in the GCC Bakery Ingredients Market in 2020 and is estimated to grow at a CAGR 8.1% during the forecast period 2021–2026. This is owing to the increasing demand of it by the consumers for increasing the volume and lightening the texture of the baked goods. It is a chemical leavening agent that is a mixture of weak acid and carbonates/bicarbonates. Baking powder is a ready to use mixture that is used to make bread, muffins, pizza dough, and biscuits among others. Acid base reaction occurs in it through which bubbles are released in the wet mixture and then it expands. Baking Powder is estimated to register the higher CAGR over the period 2021–2026.

GCC Bakery Ingredients Market Segment Analysis — By Applications

Bread held the largest share in the GCC Bakery 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 consumption of bread as a part of diet and a source of energy. Bread is a source of vitamin B & E, protein, and carbohydrates. The increasing awareness regarding the healthy diet is also expanding the growth of the segment. It reduces the cholesterol level in the body and increases the dietary fibres along with the vegetable proteins. There is an increasing demand for various varieties of the bread such as wholemeal bread. Bread are estimated to register the higher CAGR over the period 2021–2026.

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GCC Bakery Ingredients Market Segment Analysis — By Country

Saudi Arabia dominated the GCC Bakery Ingredients Market with a major share of 39.9% in 2020. This is attributed to the increasing government initiatives to enhance consumer knowledge towards new innovations in the field of bakery ingredients, and increasing focus on the research & development to adopt bakery ingredients in food that offers health benefits. Increasing inclination of the consumers towards the healthy diet, and increasing number of applications in the food industry is also increasing the growth of the market in this region.

GCC Bakery Ingredients Market Drivers

Increase in the Consumption of Bakery Products

Increase in the consumption of bakery products is increasing the growth of the GCC Bakery Ingredients Market. Bakery products & confectionery serves as a basic food items for nutrition. The demand for bakery products is increasing owing to the increasing demand for nutritional food and increase in the preference of consumers towards the tasty, attractive, and textured bakery products. Lower price, high nutritional value, and easy accessibility associated with the bakery products are rising the growth of the market. Thus, increasing the growth of the GCC Bakery Ingredients Market during the forecast period 2021–2026.

Increasing Shift of the Consumers towards the Veganism

Increasing shift of the consumers towards the veganism is increasing the growth of the GCC Bakery Ingredients Market. This is owing to the increasing awareness of the consumers regarding the health, social impact, and sustainability. There is an increasing shift of the consumer towards the veganism owing to the animal welfare, and personal health. Also, there is an increasing demand of the plant based foods such as muffins, buns, bread, and vegan cake among others. Thus, increasing the growth of the GCC Bakery Ingredients Market during the forecast period 2021–2026.

GCC Bakery Ingredients Market Challenges

Lack of Awareness Regarding the Products and Stringent Regulations

Some of the factors that are set to impede the growth of the GCC Bakery Ingredients Market are lack of awareness regarding the bakery ingredients and increasing government regulations. Increasing international quality standard is also set to hinder the growth of the market during the forecast period 2021–2026.

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GCC Bakery Ingredients Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the GCC Bakery Ingredients Market. In 2020, the GCC Bakery Ingredients Market share is consolidated by the top ten players present in the market. The GCC Bakery Ingredients Market, top 10 companies are Dawn Food Products Inc, Corbion, Cargill, Archer Daniel Midland Company, Kerry Group PLC, Novozymes, and AAK AB among others.

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Organic Sesame Seed Market — Forecast(2021–2026)

Report Code: FBR 0130

Fruit Water Market — Forecast(2021–2026)

Report Code: FBR 0139

Smart Vending Machine Market Overview:

Smart Vending Machine Market Size is forecast to reach $ 55534.2 Million by 2030, at a CAGR of 14.10% during forecast period 2024–2030. 

According to the International Trade Centre, the automatic goods vending machines including those for cigarettes, food items, and beverages registered a global trade value of $1.77m in 2023. Smart vending machines are self-contained onsite product dispensing machines, and offer features such as automated payment and date recognition which enable the machines to discard expired products automatically. The real-time update feature on these machines ensure streamlined supply. The global smart vending machine market size was valued at $4.27m in 2023, and the market is estimated to witness growth at a CAGR of 16.74% through the forecast period of 2024 to 2030.

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North America dominated the global smart vending machines market, by accounting for 37% of the share in 2023. This is owing to the presence of nations such as the U.S., which is a very lucrative region for the smart vending machines market. According to the National Automatic Merchandising Association, vending machines made an economic impact of nearly $25 billion on the U.S. convenience service industry.Additionally, the industry generates jobs worth $7.21 billion and pays $3.5 billion in taxes to the government. With such a fruitful base, the demand in the smart vending machines market is projected to grow in the near future.

Smart Vending Machine Market Outlook:

Beverage vending machines are witnessing the highest demand as compared to other types of smart vending machine, and this segment is projected to grow at a CAGR of 15.06% during the forecast period. Increased consumption of beverages such as cold drinks, alcohol, energy drinks, and juices are responsible for the growing application of beverage vending machines. These machines are used in numerous end-user industrial applications such as retail, public transport, entertainment and hospitality, and in the medical sector. According to the American Academy of Pediatrics Journal, beverages such as soda and diet soda are the most popular drinks offered for sale by vending machines. In the medical industry, 28% of the vending machines are used for storing soda, while 12% are used for storing diet soda. Beverage vending machines are also being installed in public transportation such as trains and buses to enhance the travel experience for commuters. Increasing tourism and commuting options owing to public transport is creating opportunities for the smart vending machines market.

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Smart Vending Machine Market Growth Drivers

·Corporate Culture: The corporate sectors is employing advanced and innovative strategies to optimize the office environment for employees. More popularly known as office coffee service (OCS), these machines are majorly preferred by corporate consumers for providing fresh, healthy, and light refreshments during office hours. Integrating smart technology in these machines will help the offices to track individual orders and the employees consuming the products. Globally, growing demand from corporate consumers is driving the smart vending machine market.

Smart Vending Machine Market Trends

·Energy Efficient Solutions: Smart Vending Machine manufacturers are developing energy efficient solutions to reduce the carbon footprint of these machines. Popular beverage brand Coca-Cola is developing recycled and eco-friendly smart vending machines with sustainable technology which can balance the environmental impact.

·Cashless Payment Solution: Manufacturers are trying to incorporate a cashless payment solution within the smart vending machines. They are integrating connected solutions within the vending machines to gain real-time consumer and transactional data. Foreseeing the robust digitalization, the cashless payment technology in smart vending machines will certainly increase revenues in the global smart vending machine market.

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Smart Vending Machine Market Key Players Perspective –

Companies are expanding geographically and innovating rapidly to gain ground over their competitors. The key players involved in the smart vending machine market are Azkoyen, S.A.; Bianchi Vending Group S.p.A.; Evoca Group; Fuji Electric Co., Ltd.; FAS INTERNATIONAL S.P.A.; Hunan TCN Vending Machine Co., Ltd; Sanden Holdings Corporation; and American Vending Machines.

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Smart Vending Machine Market Research Scope:

The base year of the study is 2023, with forecast done up to 2030. 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 smart vending 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 smart vending machine market research report also analyses the application of smart vending machine in various sectors such as real estate, small and medium-sized business, and others.

Key Market Players:

The Top 5 companies in the Smart Vending Machine Market are:

Fuji Electric Co., Ltd.

Sanden Corporation

Seaga Manufacturing, Inc.

Azkoyen Group

Crane Merchandising Systems

The steam cleaner Market size is forecast to reach USD 6.2 billion by 2030, after growing at a CAGR of 8.1% during the forecast period 2024–2030. 

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To increase the effectiveness of their products, global manufacturers are developing new products and refining the ones they already have. New, innovative steam cleaners with longer battery lives, more room memory, and other features are projected to propel the steam cleaners’ market throughout the forecast period.

Report Coverage

The report “Global Steam Cleaner Market — Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Steam Cleaner market.

By Type: Fully Automatic, Semi-Automatic

By Product Type: Upright, Canister, and Handheld

By Power Source: Cord and Cordless

By End Users: Industrial, Car Cleaning, Food Processing, Winery & Brewery, Commercial and janitorial, Weed Removal, Facility Maintenance, and Others

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

Key Takeaways

● The APAC region is anticipated to dominate the steam cleaner market with a value share of approximately 35% in 2023, followed by North America with a 32% value share in the steam cleaner market.

● The cleaning industry has seen a huge shift during the last two years, which was intensified by the COVID-19 outbreak. The necessity of the smart cleaning trend emerged because of its effectiveness as a motivator for employees to return to the workplace. With the use of data-driven smart cleaning, service providers can now give their clients a high-quality service with greater efficiency than ever before.

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● The market for steam cleaners has been growing steadily over the forecast period due to the increasing demand for efficient and eco-friendly cleaning solutions. Steam cleaning offers several benefits, including chemical-free cleaning, effective removal of dirt and grime, and sanitization without the use of harsh chemicals.

By Type- Segment Analysis

The Fully Automatic segment dominated the global steam cleaner market in 2023. The demand for automatic industrial steam cleaners has been steadily increasing due to their ability to provide effective cleaning solutions in a wide range of industrial applications. With a growing emphasis on sustainability and environmental responsibility, many industries are shifting towards eco-friendly cleaning methods. Automatic steam cleaners are seen as a green alternative to traditional cleaning methods that often involve the use of chemicals and excessive water. An increase in demand for a clean and hygienic food processing environment and, a rise in the number of food-borne illnesses as well as microorganism-caused illnesses are driving the automatic steam cleaner market. Additionally, the increase in awareness about cleanliness and hygiene leads to a rise in demand for automatic steam cleaners’ market which helps in the rapid breakdown of contamination.

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By Product Type — Segment Analysis

The Handheld segment dominated the global steam cleaner market in 2023. Handheld steam cleaners offer a variety of advantages, including ease of use, portability, quick and efficient cleaning, and good cost-efficiency. They are increasingly being used in industrial and commercial applications as an environmentally friendly alternative to more traditional cleaning methods which is projected to drive the market growth. Increased usage of the Internet of Things (IoT) to enable intelligent use, and the development of new products that offer quick and easy cleaning solutions. Additionally, manufacturers have been investing in the development of technologically advanced handheld steam cleaners to improve their performance and efficiency, which is further anticipated to drive the market.

By Power Source- Segment Analysis

The Cord segment dominated the global steam cleaner market in 2023. The industrial steam cleaner cord power source market is anticipated to be primarily driven by the need for high-end cleaning equipment for industrial applications. Industrial steam cleaners are used to clean high-value, delicate machinery and equipment in industrial settings, and the need for specialized cords and power sources is growing. Factors driving growth in the market include the increasing prevalence of automation, improved health and safety regulations, and the growing need for efficient and safe cleaning solutions. Vendors in the market are competing to offer specialized solutions that are tailored to the needs of the customers. Additionally, the growing adoption of solar-powered steamer cleaners and other energy sources is likely to lead to an increase in cord-type power sources for industrial steam cleaners. Challenges in the corded power source industrial steam cleaner market may include the need for proper electrical infrastructure, and addressing specific industry requirements.

By End User — Segment Analysis

The Car Cleaning end-user dominated the global steam cleaner market in 2023. The environmental reputation of a steam car wash is excellent. Conserving water is a crucial component. For instance, DetailXPerts steam cleans an average-sized vehicle with less than a pint of water, which represents a major conservation of natural resources. Traditional car washes, such as tunnel car wash, on the other hand, can consume up to 120 gallons of water for each vehicle. Additionally, using steam cleaning eliminates the need for environmentally hazardous poisonous chemical products. The steam’s high temperature and strength allow for a thorough cleaning, it efficiently sanitizes car interiors. Because steam is so good at cleaning reusable surgical instruments, hospitals have been using it for a long time. Steam can sterilize at temperatures as high as 132°C (270°F). This temperature will kill dangerous pathogens.

The steam cleaner market has been stimulated by the burgeoning automotive industry. For instance, The International Organization of Motor Vehicle Manufacturers, reports that 8,16,28,533 vehicles are sold globally. Especially for steam car cleaning, the size of the car wash business keeps growing. The new car wash model of a steam car wash has developed into an innovation trend in the context of the world’s promotion of the “low-carbon energy-saving, green and environmentally-friendly” technology revolution.

By Geography — Segment Analysis

Asia Pacific region dominated the global steam cleaner market in 2023. The steam cleaner market in APAC has been experiencing significant growth during the forecast period. With the increasing focus on cleanliness and hygiene, steam cleaners have gained popularity as effective and eco-friendly cleaning solutions. Several factors contribute to the growth of the steam cleaner market in APAC. The rising disposable income in countries like China, India, and Japan has led to an increased demand for household appliances, including steam cleaners. Additionally, rapid urbanization and a growing middle-class population have also contributed to market growth. For instance, according to OICA in 2022, in China, the overall car production was 238,36,083 units. The rise in the production of cars is in turn anticipated to drive the steam cleaner market. The adoption of steam cleaners in various sectors such as residential, commercial, and industrial has further fuelled the market.

Drivers — Global Steam Cleaner Market

● Using Technology Advancements to Innovate the Product

The market has begun a revolutionary path by incorporating anti-microbial technology into product design in response to the growing demand for enhanced hygiene practices. With this innovative feature, these cleaners are more effective than just removing dirt and grime. These cleaners now provide an additional level of cleanliness and safety by greatly improving the eradication of dangerous microorganisms. This product finds a market niche in high-risk locations including healthcare institutions, food processing facilities, and other places where strict cleanliness requirements are necessary.

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At the same time, automation assumes a prominent role as a factor in the development of steam cleaning technology. The inclusion of self-cleaning mechanisms in sophisticated steam cleaner models is one of the remarkable advances. Because there is less need for human descaling, these automated systems effectively handle maintenance procedures, preventing mineral buildup and extending machine lifespan. Along with ensuring continuous steam quality, this connection also significantly lessens the maintenance workload. This results in improved user-friendliness and operational efficiency for these cleaners with self-cleaning capabilities, ushering in a new era of automated cleaning solutions.

● Raising Hygiene Standards in Commercial Environment

Modern cleaning products and techniques that are used all over the world to clean and disinfect hospitals are examples of medical cleaning technology. Ultrasonic cleaning, ultraviolet (UV) ray disinfection, steam disinfectants, and electromagnetic spray technologies are some of these innovative techniques. They also contain the sanitizers and disinfectants needed to clean both the facility’s interior and outside surfaces. Patients who are receiving medical or surgical treatment are highly susceptible to contracting healthcare-associated infections (HAIs). One in every twenty-five individuals is predicted to have a health-related infection (HAI). The prevalence of HAUTIs, or healthcare-associated UTIs, as determined by regional research ranges from 12.9% in the United States and 19.6% in Europe to up to 24% in poor nations, according to the NCBI. The market is therefore driven by the rapidly expanding hospitality industry, which is fueled by rising tourism activity and the opening of new resorts and opulent hotels.

● The Growing Automotive Sector is Propelling the Sector

The market for steam cleaners is being driven by the expanding automobile industry. The automotive market’s growth is also growing due to increased demand for luxury passenger cars, urbanization, and rising infrastructure spending in the economy. Because it uses only the power of steam to clean and sterilize vehicles, vehicle steam cleaning is very efficient. The pressed steam removes stains and grime without leaving behind any harmful residue. Additionally, steam is excellent for sterilizing a car’s challenging, challenging-to-reach regions. Air vents, upholstery grooves, and other areas can be readily and effectively steam cleaned. Because steam cleaning is the future of car washing, businesses can see the opportunity to create a successful enterprise. Strong demand will derive from rising middle-class wealth and a sizable young population. IBEF estimates that in March 2023, 20,04,592 passenger vehicles, three-wheelers, two-wheelers, and quadricycles were produced in total. As the automobile sector is poised to rise the market for steam cleaner is also anticipated to rise.

Challenges — Global Steam Cleaner Market

● Accessibility of Cheap Manual Labor in Developing Nations

The market has significant difficulties due to the low labor cost in emerging nations. Due to the availability of cheap labor, manual laborers like domestic helpers are preferred in nations like China and India over vacuum cleaners and steam cleaners. People can also personalize the cleaning procedure with the aid of housemaids or domestic assistants. As a result, there is still little demand for steam cleaners in these nations. Additionally, low-cost manual laborers are preferred for cleaning commercial areas in the commercial sector. For instance, 40% of businesses globally use temporary workers in their facilities. The informal sector makes up a sizeable and significant component of the workforce and the economy in many developing nations in APAC. 60% of the workforce is employed in the unorganized sector overall. In several of the countries in the region, the labor component of GDP has been dropping. High rates of teenage unemployment and inactivity, rising inequality, and a lack of skilled workers are some of the specific issues.

● A Lack of Understanding Prevents the Market from Growing

Many consumers may not be fully aware of the benefits and applications of steam cleaners. Educating potential customers about their efficacy, various uses, and advantages over traditional cleaning methods is essential for market growth. A lack of understanding about steam cleaners can indeed be a challenge for the market. Steam cleaners have numerous benefits, such as being an eco-friendly and chemical-free cleaning solution. However, if potential customers are not aware of these advantages or do not understand how steam cleaners work, they may be hesitant to purchase them. Additionally, collaborating with retailers to provide in-store demonstrations can also help potential customers understand the effectiveness and ease of using steam cleaners. Furthermore, partnering with cleaning professionals or offering training sessions for users can help build trust and enhance understanding.

Market Landscape

Agreements, product launches, and acquisitions are key strategies adopted by players in the steam cleaner market. In 2023, the Global Steam Cleaner Market share has been consolidated by the top ten players accounting for 32% of the share. Major players in the steam cleaner market are TECNOVAP, T.P.A. IMPEX SPA, GENERAL VAPEUR SRL (Menikini), SJE Corporation, Ltd., Bieffe s.r.l., Lavorwash S.p.A., Elma Schmidbauer GmbH, Steam Italy, Goodway Technologies Corp., STI srl and others.

Developments:

● In 2022, Doman, SRL, one of the manufacturers of dry industrial steam cleaning equipment for commercial and industrial applications, was acquired by Goodway Technologies, one of the global providers of industrial maintenance and cleaning solutions.

● In 2018, Goodway introduced the GVC-18VAC, a revolutionary, ETL-certified dry steam/vacuum combo that combines award-winning vacuum technology with the efficiency of dry steam cleaning. Commercial cleaning and janitorial, retail, food and beverage, hospitality/property management, and healthcare are just a few of the industries it is perfect for.

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The market for personalized learning is at boom and is set to show an exponential rise for the forecasted period. Currently, the market is majorly led by education-technology companies followed by online courses, and in the forecasted period education institutes are estimated to gain a significant market share. From students to corporate professionals, most of them are favoring learning through a self-driven pursuit.

What is Personalized Learning?

Personalized learning is a teaching approach, which caters to individual educational needs with constant feedback regarding progress. It is a computer based teaching assistance, having the application software connected to cloud or a particular system. The platform presents the interactive content with real time performance analysis of the learner, which results in modification of the content and course timeline for efficient learning. It uses the computer or mobile application software to interact and learners are assessed through computerized tests that are adjusted based on individual skills. So, personalized learning is a blended learning that progress at the rate of learners’ learning ability.

Personalized learning platform challenges traditional teaching practices, by implementing model of learning by doing and blended learning based on individual understanding and accordingly optimizes the timeline. This teaching approach is appreciated in corporate learning to up-skill resources efficiently, and adopted by the professionals for whom time management and commuting is the big issue. This blended learning approach uses modern technologies like artificial intelligence, which perform human behavior analysis to structure the content.

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The education institutes including schools and colleges are showing great interest towards personalized learning, especially primary education, where young minds understand things easily by content visualization and practical approach. This has made leading universities to deliver their courses to distant learners more efficiently.

This report incorporates an in-depth assessment of Personalized Learning market by integration, technologies, applications, end users and geography.

What are the major applications for Personalized Learning?

The various applications assessed for personalized learning includes feedback, where the computerized system automatically generates a report highlighting the strong and weak areas of a learner, which can be used by teachers for improvement. Another application is live screen monitoring where mentors can share the work screens of students to see the problem solving approach deployed by them to frame out guidance based on individual needs. And also a creative application of interactive content by advancing learning by gamification to make learning more enjoyable; speech synthesis for language courses to learn and improve pronunciation. Audio & Video content to develop listening and visual concentration of learners, and various other blended learning applications. According to the National Education Technology Plan (NETP) issued in 2010 by the U.S Department of Education, personalized learning puts learners at the center and empowers them to take control of their own learning by providing flexibility on various dimensions.

Market Research and Market Trends of Personalized Learning’s Ecosystem

With constantly changing technological sector, corporate training has emerged as one of the most significant end-user segment having enormous potential to fuel the upcoming industrial revolution.

Cloud based data storage is estimated to dominate the personalized learning platform with a share of around 65%, thus crediting a value in excess of $214.23 million in 2017. The market is forecast to witness a growth of nearly 29% projecting to around $2080 million by 2024, which is mainly attributed to the growing demand from the end user segments such as ed-tech companies and online courses.

Software companies are developing many mobile applications and web-based interfaces with improved algorithms for various end-users. As per IndustryARC recent analysis, the global personalized learning is estimated to plunge by 29% by 2024 with exponential increase in usage by corporates and self-learners.

Who are the Major Players in Personalized Learning market?

The companies referred to in the market research report includes D2L CORPORATION (Canada), DREAMBOX LEARNING (U.S.), KNEWTON, Inc. (U.S.), WOLTERS KLUWER (The Netherlands), SMART SPARROW PTY LTD (Australia) and other major players and startups.

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What is our report scope?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018–2023.

All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

Key Takeaways from this Report

Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level — for product types, end use applications and by different industry verticals.

Understand the different dynamics influencing the market — key driving factors, challenges and hidden opportunities.

Get in-depth insights on your competitor performance — market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

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Analyze the sales and distribution channels across key geographies to improve top-line revenues.

Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

Get a quick outlook on the market entropy — M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

Key Market Players:

The Top 5 companies in the Personalized Learning Market are:

D2L

DreamBox Learning

Smart Sparrow

Edgenuity

Agile Education

Bio-Based Resin Overview

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COVID Impact

The sudden outbreak of coronavirus pandemic has hit the packaging industry hard, as during the month from March to June in 2020 almost every country was in the lockdown mode owing to which, e-commerce companies have also stopped their services for months. So, with the decline in packaging sector the bio-based resin market has also restrained.

Report Coverage

The report: “Bio-Based Resin Market — Forecast (2021–2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the bio-based resin market.

By Product Type — Biodegradables (Starch-based, Cellulose Derivatives, Polyvinyl Alcohol, Bio Epoxy Resins, Polylactic acid (PLA), Polyglycolic acid (PGA), Polycaprolactone (PCL), Polyhydroxybutyrate (PHB), Polybutylene Succinate (PBS), Polyhydroxyalkanoates (PHA), Polyanhydrides and Others) and Non-biodegradables (Biopolyethylene Terephthalate (PET), Biopolyethylene, Biopolyamides, Biopolyols and Polyurethane, Biopolytrimethylene Terephthalate (PTT), Bio-Polypropylene (PP) and Others).

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By End Use Industry — Packaging, Aviation, Construction (Residential, Commercial, Industrial, Infrastructure), Automotive (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle), Food & Beverage, Agriculture, Healthcare, Household and Consumer Goods and Others.

By Geography — North America (U.S., Canada, and Mexico), Europe (U.K., Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

Asia-Pacific dominates the bio-based resin market owing to increasing demand from end use industries such as packaging, construction and others.

The growing demand for bio-based resin for stable timber construction, is likely to aid in the market growth of bio-based resin.

The emergence of bio-based resin as an alternative for petroleum-derived polymers is expected to drive the market for bio-based resin in the upcoming years.

Higher cost of biobased resin will create hurdles for the bio-based resin in the near future.

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Bio-Based Resin Market Segment Analysis — By Product Type

Biodegradable segment held the largest share in the Bio-Based Resin market in the year 2020 and is expected to grow at a CAGR of 5.6% during the forecast period. Biodegradable resins are ideal for producing disposable packaging materials. They are capable of playing a key role in sustainable plastic production. Products based on biodegradable plastics are often reflected as savior products as, shifting to these materials helps to lessen carbon dioxide, greenhouse gas emission levels, energy of manufacturing, and amount of waste produced and create opportunity for new plastic industries. However, they are heavier than the petroleum-based polymers. While they will never completely eliminate the problem of plastic waste (since they are not suitable for all product applications), biodegradables can nevertheless be an important tactic in reducing pollution and waste in some instances.

Bio-Based Resin Market Segment Analysis — By Application

Packaging sector has been the primary market for Bio-Based Resin in the year 2020 and is expected to grow at a CAGR of 4.5% during the forecast period. Bio-polyethylene terephthalate, polylactic acid (PLA) and others are driving the packaging production and market demand for biobased resin. Polylactic Acid (PLA) are primarily used in the food, industrial, and medical industries. PLA originates from renewable sources as a result of eco-friendly fermentation and degrades into non-toxic content.

In addition, lignin as an organic polymer increases the barrier properties of finished products, especially against UV rays. Whereas, according to information provided by World Packaging Organization (WPO), the turnover of global packaging industry is more than $500 billion in the year 2019 and is expected to grow more in the upcoming years. Hence with the increase in market growth of packaging industry, the bio-based resin market is expected to grow.

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Bio-Based Resin Market Segment Analysis — By Geography

APAC dominated the Bio-Based Resin market in the year 2020 holding share of 41% during the forecast period. China and India are the major countries in this region, owing to the great demand automotive, packaging and other industries. Bio-based resin are used in automotive sector for manufacturing of non-structural interior components, including wood trim, seat fillers, seat backs, headliners, interior panels, dashboards and thermoacoustic insulation.

So, with the growing manufacturing of automotive around the world the demand for bio-based resin is expected to grow in this sector. According to the OICA’s (International Organization of Motor Vehicle Manufacturers), sales statistics, the automotive production in Asia/Oceania/Middle East region has increased by 1.34% from 2015 to 2019. However, China was the largest producer of automotive in the world, while India was the 5th largest of automotive in the year 2019. Hence, with the growing demand for automotive will eventually led to the market growth the bio-based resin during the forecast period.

Bio-Based Resin Market Drivers

Emergence of Electric Vehicle

Bio-based resin already have a major demand in the automotive sector, mainly for interior products. But with the emergence electric vehicles, the bio-based resin market is expected to grow, while the growing potential demand for electric vehicle will eventually boost the demand for bio-based resin in electric vehicles. However according to the IEA’s Global EV outlook 2020, the global electric car stock has increased by 2.1 million in the year 2019, as compared with 2018. So, with the growing demand for electric vehicles around the world, the bio-based resin market will also drive.

Alternative for Petroleum-Based Products

Exploration and expansion of new chemical/material substitutes is critical in reducing mankind’s dependence on fossil fuel energy in the face of a potential fossil fuel crisis. Whereas bio-based resins (such as PHA, PLA, starch, protein, chitin, chitosan, and PBS) are some of the substitute for petroleum-based products. Furthermore, bio-based polymers are still new, though, they are in continuous development. Hence with the upcoming years the bio-based resin tends to increase.

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Bio-Based Resin Market Challenges

Higher Cost of Bio-Based Resin

Bio-based resin are generally two or three times more expensive than the major conventional plastics such as PE or PET, and their production is plagued by low yields and being expensive. At current technologies it cost nearly 50% more than the traditional petroleum products. These prices may come down in the near future, as technologies improve and source material access becomes cheaper to produce. Hence even being biodegradable and good for environment, the biobased resin cost is making difficult for the manufacturers to survive. This could restrain the market growth of bio-based resin.

Bio-Based Resin Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Bio-Based Resin market. Major players in the Bio-Based Resin Market are Absecon Mill, Agri-Fibers Inc, Archer Daniel Midland, Ashland Performance Material, BASF SE, Braskem, Cargill Nature Work, Cereplast, Dowdupont, Etech Surf, John Deere, among others.

Acquisitions/Technology Launches

In January 2019, PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has completed the acquisition of Fiber-Line, a global leader in customized engineered fibers and composite materials for $120 million.

In January 2019, Archer Daniels Midland Company has successfully completed its $ US 1.84 (€1.544) billion acquisition of Neovia, creating a global leader in value-added products and solutions for both production and companion animals.

Relevant Reports

Bio-based Platform Chemicals Market — Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019–2024

Report Code: CMR 43954

Bio-plastics Market — Forecast(2021–2026)

Report Code: CMR 0846

Lithium Hydroxide Market Overview

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In addition, the growing demand for electric vehicles that use lithium batteries, as well as the increasing demand for power tools that use lithium hydroxide NCA cathode, are major factors driving the market growth. However, rising concerns about the toxicity of lithium hydroxide are expected to limit the growth of the lithium hydroxide market.

COVID 19 Impact:

The Covid-19 pandemic situation negatively impacted the growth of the lithium hydroxide industry in the year 2020. In 2019, buyers from other countries primarily Japan and South Korea, bought more than 80% of China’s hydroxide production. Due to complications with customs clearance caused by the outbreak, users in other countries were finding it increasingly difficult to obtain lithium hydroxide. Domestic consumers also suffered difficulties as a result of transportation disruptions and increased lithium hydroxide price in 2020. For instance, Ganfeng lithium headquartered in China, reported that it had increased its battery grade lithium hydroxide spot prices by no more than 10%, citing increasing raw material costs and transportation costs.

Lithium Hydroxide Market Report Coverage

The report “Lithium Hydroxide Market Report — Forecast (2022–2027)” by IndustryARC covers an in-depth analysis of the following segments of the lithium hydroxide industry.

By Purity: 55%, 99%, 99.3%and Others.

By Form: Anhydrous and Monohydrate.

By Packaging: Bottle, Bags, and Others.

By Application: Li-Ion Batteries, Lubricating Grease, Glass and Ceramics, Dye, Carbon dioxide scrubber and Others.

By End-Use Industry: Transportation (Automotive, Aerospace, and Marine), Electronic Devices (Smartphones, Digital Cameras, Watches, and Others), Nuclear, Chemical, Metallurgy, and Others.

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

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Key Takeaways

The Asia-Pacific region dominated the lithium hydroxide market due to the rising growth of the automotive industry. For instance according to the International Trade Administration, the commercial vehicle sales increased by 20% year over year to 5.23 million units in 2021.

An increase in demand for lithium batteries as a replacement to gasoline in a variety of applications is one of the primary factors driving the growth of the lithium hydroxide market.

In the foreseeable future, the rising production of lithium hydroxide is estimated to raise the growth of the market. For instance, as per the report published by the Department of Industry, Science, Energy and Resources in 2020, the global production for lithium hydroxide in 2025 is estimated to reach US$ 600 Thousand Tonnes.

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Lithium Hydroxide Market Segment Analysis — By Application

Li-Ion batteries held the largest share with 28.3% in the lithium hydroxide market and is expected to continue its dominance over the period 2022–2027. The increasing demand for energy resources, as well as the regulatory push towards non-renewable energy resources such as alternative clean fuels, increased fuel efficiency, and carbon emission standards, are likely to create a favorable environment for the lithium-ion battery sector. The development of lithium-ion battery materials that allow batteries to withstand high temperatures would improve the product’s safety and reliability. Increasing government investments for the growth of the lithium ion batteries is driving the market growth. For instance, to promote EVs and lithium ion batteries, the Indian government launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicle (FAME) scheme in 2019 with a Rs.10,000 crore budget. The scheme was set to expire in 2022. To encourage the purchase of 7,090 electric buses, 35,000 four-wheelers, 500,000 three-wheelers, and 1 million two-wheelers, the government planned to offer incentives. The Indian government extended the second phase of the FAME scheme by two years, to March 31, 2024, in June 2021. To encourage the use of lithium ion batteries, the government has authorized FAME subsidies only for lithium ion. As a result of the aforementioned factors, with the rising usage of Li-Ion batteries the demand for lithium hydroxide is estimated to increase at the fastest rate throughout the projection period.

Lithium Hydroxide Market Segment Analysis — By End-Use Industry

The transportation sector dominated the lithium hydroxide market in 2021 and is projected to grow at a CAGR of 8.7% during 2022–2027. Lithium Hydroxide is a chemical compound utilized by NASA in the shuttle spacecraft as a carbon dioxide scrubber material. Although substantial research into carbon absorption by LiOH scrubbers in outerspace has been done in the past, relatively little is known about the process in the underwater environment. In the automotive sector lithium hydroxide is majorly used in the Li-Ion batteries. Rising growth of aerospace, automotive, and marine production would drive the growth of the market. For instance, according to the Aerospace Industries Association, in 2020 the total aerospace industry sales revenue stood for US$ 874 billion. Also, as per the International Organization of Motor Vehicle Manufacturers, the global production for vehicles increased from 52,146,292 units in September 2020 to 57,262,777 units in September 2021.

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Lithium Hydroxide Market Segment Analysis — By Geography

Asia-Pacific region dominated the lithium hydroxide market with a share of 55% in 2021. The market in the region is witnessing expansions with the rising production of lithium hydroxide in emerging economies such as China, Japan, and South Korea. According to the Australian Trade and Investment Commission, China dominates the global lithium hydroxide production. There are 17 Chinese refineries that produce lithium carbonate, lithium hydroxide, and lithium chloride, which are the precursors to lithium-ion battery cathode materials. Additionally, increasing investments for the production of lithium in Australia will drive the demand for lithium hydroxide. For instance, two of the world’s largest lithium producers, Tianqi (China) and Albemarle(US), have invested in Australia. Both of these companies are investing in downstream lithium processing in Western Australia, at Kwinana and Kemerton. Albemarle has received final regulatory approval for its plans to build a lithium hydroxide processing plant near Bunbury in the Kemerton Industrial Park. By 2025, Albemarle intends to process spodumene ore concentrate from the Talison Greenbushes mine to produce 100,000tpa of lithium hydroxide. Thus, the rising production of lithium hydroxide in APAC countries is estimated to boost the market growth over the forecast period.

Lithium Hydroxide Market Drivers

Increasing usage of lithium hydroxide in the EV market will drive the market growth.

Lithium hydroxide is an important cathode raw material, but its supply is limited compared to lithium carbonate. Nonetheless, battery manufacturers are still using this compound instead of lithium carbonate. This is due to the fact that lithium hydroxide has more advantages, such as higher power density, which translates to improved safety features, more battery capacity, and longer life cycles. Since, batteries are the lifeblood of an electric vehicle, it is critical that manufacturers choose raw materials that provide higher power density and, thus, greater range. Currently, EV manufacturers such as Tesla and various others already use lithium hydroxide in its batteries. Rising growth of electric vehicles is also set to drive the demand for lithium hydroxide in the forecast period. For instance, in July 2021, Nissan Motor, a Japanese automaker, has commissioned a study to localize the production of electric cars (EVs) in India, which will include the construction of a Gigafactory for the mass production of EV batteries in the nation. Similarly, in December 2021, Bajaj Auto Limited announced that it will invest 300 crores (US$ 40 million) in a new electric vehicle plant in Akurdi (Pune). According to the company, this plant will be able to produce 500,000 electric vehicles every year. Bajaj’s first Chetak scooter manufacturing is also located in this area (Akurdi, Pune). Furthermore, in December 2021, Toyota expects to sell 3.5 million electric vehicles worldwide by 2030. Toyota has planned to launch its electric car inventory, with 30 new fully electric models expected by 2030. Thus, such initiatives will surge the lithium hydroxide market growth in the upcoming years.

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Lithium Hydroxide Market Challenges

Fluctuating Price of Lithium Hydroxide

One of the most critical ingredients in the transition to a lower-carbon future is lithium. However, the rising popularity of electric vehicles has resulted in a surge in demand for battery-grade lithium, causing prices to vary. As per the U.S. Geological Survey, prices for lithium hydroxide in China fell from over $7,800 per tonne at the start of the year to around $7,000 per tonne in November 2020. Also, The spot price of lithium hydroxide dropped from US$ 16,139 per tonne in 2018 to under US$11,000 in late 2019. Prices also dropped much further in 2020, to around US$9,500 per tonne, before rising to around US$10,925 per tonne in 2021 as per the publication provided by the Government of Australia. Thus, fluctuating price of lithium hydroxide may create challenges in the overall market expansion.

Lithium Hydroxide Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the market. Lithium Hydroxide top 10 companies include:

Ganfeng Lithium Co., Ltd.

Albemarle Corporation

SQM S.A.

HELM AG

Leverton-Clarke Speciality Chemicals

Haoxin Liyan

Brivo

Sichuan Yahua

Vulcan

Standard Lithium Ltd. and others.

Recent Developments

In March 2021, Standard Lithium Ltd., a lithium project development and technology business, reported that it has successfully converted its Arkansas-produced lithium chloride into 99.985 percent pure lithium carbonate using OEM technology.

In November 2021, Tesla stated today that it has inked a three-year arrangement with Chinese lithium hydroxide company Ganfeng Lithium to purchase battery quality lithium hydroxide.

In December 2021, Vulcan acquired a geothermal plant in Germany that might make lithium hydroxide from brine.

Relevant Reports:

Lithium Market — Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021–2026 Report Code: CMR 30269

Lithium Compounds Market — Forecast(2022–2027) Report Code: CMR 0221

Lepidolite Market — Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021–2026 Report Code: CMR 73362

Indian Polypropylene Market Overview

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PP owns quite similar properties as that of polyethylene, however, it possesses greater resistance toward heat than polyethylene. It is mainly referred to as commodity plastic as it is mainly used in the manufacturing of packaging products such as bottles and bags. Polypropylene is known as a thermoplastic polymer that softens upon heating and can be remolded. The major advantages associated with the use of polypropylene are flexibility, toughness, large thermal expansion, resistance to organic solvent and weak oxidizing agent and high resistance to fatigue.

Many industries across the globe have faced several challenges due to the COVID-19 pandemic. The industries such as packaging, automotive, textile and consumer goods including many others have experienced pitfalls. The production and demand in these industries have declined due to an interrupted supply chain and the cessation of transportation. With the pause in industrial production and distribution, the demand and consumption of polypropylene have been hampered to an extent in several industries in India. Moreover, a decrease in the demand for electrical and electronics has also hampered the Indian polypropylene market size during the pandemic.

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Report Coverage

The report: “Indian Polypropylene Market Report — Forecast (2022–2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Indian polypropylene industry.

By Type: Homopolymer and Copolymer (Block and Random).

By Process: Injection Molding, Blow Molding, Extrusion, Compression Molding, Rotational Molding and Others.

By Structure: Atactic, Isotactic and Syndiotactic.

By Application: Fiber and Raffia, Film and Sheet, Foam, Tape and Others.

By End-Use Industry: Packaging (Rigid Packaging and Flexible Packaging), Automotive (Passenger Cars, Light Commercial Vehicle and Heavy Commercial Vehicle), Building & Construction (Residential, Commercial and Industrial), Medical (Syringes, Medical Vials, Pill Containers and Others), Electrical & Electronics, Agriculture, Consumer Goods, Textile, Furniture and Others.

Key Takeaways

The remarkable growth in the packaging industry is driving the growth of Indian polypropylene market.

Polypropylene plays an important role in several industries such as building and construction, medical, electrical and electronics and consumer goods which are expected to provide significant growth opportunities to increase Indian polypropylene market size in coming years.

Increase in automotive production in India is expected to provide substantial growth opportunities for the industry players in near future in Indian polypropylene industry.

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Indian Polypropylene Market Segment Analysis — By Type

The Homopolymer polypropylene segment held the largest Indian Polypropylene Market share in 2021, with a share of over 62%. Homopolymer polypropylene is a widely-used general-purpose grade of polypropylene. It comprises of propylene monomer in a semi-crystalline solid form. As compared to copolymer, homopolymer owns high strength-to-weight ratio and strength. It holds beneficial properties such as impact resistance, chemical resistance, processability and corrosion resistance. It is widely utilized in applications such as automotive, packaging, healthcare, textile and electrical and electronics. Thus, the beneficial properties associated with the use of copolymer polypropylene is boosting the market growth.

Indian Polypropylene Market Segment Analysis — By End-Use Industry

The packaging segment is expected to grow at the fastest CAGR of 10.2% during the forecast period in the Indian Polypropylene Market. Polypropylene is one of the most widely used materials for packaging applications owing to its low cost, superior barrier properties, high strength and better surface finish. It is also the preferred material for food packaging applications owing to its excellent optical clarity in combination with its low vapor-moisture transmission. It is utilized in several packaging applications such as stationery folders, storage boxes, bottles and crates. Thin-walled polypropylene containers are majorly used in food items packaging. It is also used in several packaging applications such as packaging of consumer products and plastic parts for numerous industries such as automotive, special devices and textile. It can be used in both rigid and flexible packaging. Thus, the increase in demand from the packaging industry is boosting the market growth of the polypropylene market.

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Indian Polypropylene Market Drivers

Surge in production of automotive

Polypropylene is widely used in automotive applications owing to its low cost and superior mechanical properties. The automotive industry accounts for a substantial share of Indian polypropylene market share. It is utilized to produce a wide range of automotive parts such as battery trays and cases, fender liners, bumpers, door trims, interior trim and instrumental panels. These are majorly used in owing to its beneficial properties such as stiffness, processability, superior weatherability and high chemical resistance. There are different types of polypropylenes which is used in automotive applications such as homopolymer, impact copolymer and expanded polypropylene. According to Indian Brand Equity Foundation (IBEF), the government of India is expecting that the automobile sector would attract US$8–10 billion in local and foreign investment by 2023. Thus, growth in the automotive sector is further propelling the demand for polypropylene in the Indian market.

Increase in adoption in the packaging industry

Polypropylene is extensively used in packaging applications for both rigid and flexible packaging. It is mainly applicable to the packaging of major sectors such as food and confectioneries, tobacco and clothing. In rigid packaging, it is utilized to manufacture caps and closures, pallets, bottles, crates and jars. It is utilized for the packaging of food products, cleaning products, bleaches and first-aid products. The properties such as fatigue resistance, high chemical resistance and durability make it a suitable material for packaging. It is majorly utilized as a packaging material as it is waterproof and resistant to moisture. It is resistant to wear, tear and fatigue which makes it suitable for applications that require a high level of physical stress. PP is used for a wide range of industries for packaging such as food and beverages, personal care and cosmetics, household and medical and healthcare. According to the Packaging Industry Association of India, packaging is one of the high-growth industries in India which is growing at around 22–25% per annum. India is becoming a suitable hub for the packaging industry. Thus, growth in the packaging industry is boosting the demand for polypropylene and it also accounts for a significant share of Indian polypropylene market share.

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Indian Polypropylene Market Challenges

Availability of substitute material

Polypropylene is widely used in a range of applications such as food packaging, automotive, personal care and cosmetics, agriculture, consumer goods and medical including many others owing to its low cost and superior properties. However, there is a range of sustainable alternative materials available for PP materials such as paper and bioplastics. Along with this, a new version of flexible PLA is expected to replace PP in food packaging applications. Also, other plastics such as polyethylene, polystyrene, polyethylene terephthalate and polyvinyl chloride. Thus, the availability of substitute materials may hamper market growth.

Indian Polypropylene Industry Outlook

The top 10 companies in the Indian polypropylene market are:

Reliance Industries Limited (RIL)

HMEL (HPCL-Mittal Energy Ltd)

Indian Oil Corporation Limited (IOCL)

Haldia Petrochemicals Limited (HPL)

Mangalore Refinery and Petrochemicals Ltd. (MRPL)

ONGC Petro additions Ltd. (OPaL)

Brahmaputra Cracker and Polymer Limited (BCPL)

Kingfa Science & Technology (India) Limited

Milliken Chemical

Exxon Mobil Corporation

Recent Developments

In June 2020, Indian Oil Corporation announced the selection of LyondellBasell’s Spheripol technology for its new facility in Haryana, India with a polypropylene production capacity of 450 KTA.

In August 2019, Haldia Petrochemicals Ltd (HPL) invested Rs. 8,000 crores in a naphtha cracker unit and polypropylene facility in Odisha.

In February 2019, HPCL-Mittal Energy Ltd. selected LyondellBasell’s Spheripol polypropylene process technology for its new 500 KT polypropylene plant in Bhatinda, India. This process offers low operating and capital costs, superior operability and wide product capability.

Relevant Reports

Polypropylene Foams Market — Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2021–2026 Report Code: CMR 43241

Polypropylene Catalyst Market — Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022–2027 Report Code: CMR 1323

Global Polypropylene Fibers Market — Forecast(2022–2027) Report Code: CMR 55747 

Potassium Hydroxide Market Overview

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For instance, the increasing adoption of KOH in the production of biodiesel, coupled with the expanding global biodiesel market, is driving demand growth. Additionally, the rise in consumption of personal care and cleaning products, particularly in emerging economies, is fueling demand for KOH as a key ingredient in soap and detergent formulations. Moreover, the growing agricultural sector is contributing to increased demand for KOH-based fertilizers. These trends reflect a robust outlook for the Potassium Hydroxide market, with continued growth anticipated in the foreseeable future. One significant driver of the Potassium Hydroxide (KOH) market is the increasing demand from the biodiesel industry. KOH is utilized as a catalyst in the transesterification process, which converts vegetable oils or animal fats into biodiesel. As governments worldwide implement policies promoting renewable energy sources and reducing reliance on fossil fuels, the demand for biodiesel has surged. This has directly translated into higher demand for KOH, driving market growth. Additionally, advancements in biodiesel production technologies and increasing investments in biodiesel infrastructure further support the growth of the Potassium Hydroxide market. With the biodiesel industry poised for continued expansion, the demand for KOH as a catalyst is expected to remain strong, driving market growth in the coming years. Another key driver of the Potassium Hydroxide market is the expansion of the personal care and cleaning products industry. KOH is a crucial ingredient in the production of soaps, detergents, and other cleaning agents due to its ability to facilitate saponification, a process that converts fats or oils into soap. Furthermore, the rising disposable incomes in emerging economies have led to increased spending on personal care products, further driving demand for KOH. As consumer preferences shift towards natural and environmentally friendly formulations, the demand for KOH in the production of organic soaps and detergents is expected to witness significant growth, contributing to the expansion of the Potassium Hydroxide market.

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Market Sanpshot :

What is Potassium Hydroxide?

Potassium hydroxide (KOH) is an inorganic compound, commonly known as caustic potash. It is a strong base and is highly corrosive in nature. Potassium hydroxide is extensively used in industry for manufacturing soaps, detergents, and various chemical products, as well as in the production of potassium salts and alkaline batteries.

What are the applications of Potassium Hydroxide?

Potassium hydroxide (KOH) is primarily used in soap and detergent manufacturing as it helps in saponification of fats and oils. It is also employed in the chemical industry for the synthesis of potassium salts and organic compounds. Additionally, KOH finds application in the production of potassium carbonate and other potassium chemicals.

Report Coverage

The report: “Potassium Hydroxide Market — Forecast (2024–2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Potassium Hydroxide Market Report. By Form — Pellets, Flakes, Powder  By Application — Industrial Applications (Electrolyte in Alkaline Batteries, Electrolyte in Electroplating, Paint & Varnish Removers), Manufacturing (Bio diesel, Food [PH Control Agent, Stabilizer, Food Thickener]), Making Soap (Soft Soaps, Liquid Soaps), Medicinal Applications (Microscopic Visualization Of Fungi, Treatment of Warts) By End User — Medical, Petroleum, Agriculture, Chemical Industry, Metallurgy, Paint & Varnishes, Agriculture (Fertilizers), Others (Petroleum Refining, Cleaning Solutions) By Geography — North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Australia and Others), South America (Brazil, Argentina and others) and RoW (Middle East and Africa).

Key Takeaways

The Potassium Hydroxide (KOH) market is experiencing significant growth propelled by several key factors. Firstly, the expanding global trade landscape, particularly in developed economies like Europe, has intensified the demand for KOH.

This heightened focus on logistics efficiency directly impacts industries reliant on KOH, such as manufacturing, agriculture, and chemical processing, driving up demand for the compound.

Secondly, there’s a noticeable trend among logistics organizations to track personnel, vehicles, and assets meticulously, aiming to bolster productivity and gain better control over every stage of the product value chain.

This influx of innovation not only diversifies product offerings but also enhances efficiency and effectiveness, further fueling market growth.

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Market Research and Market Trends of Potassium Hydroxide Market

The global Potassium Hydroxide Market is one of the fastest growing market with its huge range of applications in chemical, medical and metallurgical industries. The latest trend is strontium chloride being used in the form of injection to relive the pain of metastatic pain of bones.

The global Potassium Hydroxide Market is also expected to witness massive growth in the near future due to increasing demand from metallurgical industry for the production of aluminum where strontium chloride is used as a precursor.

Who are the Major Players in Potassium Hydroxide Market?

The companies referred to in the market research report include Altair, Armand, Ashtar Chemicals, American Elements and other players are profiled in this report.

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What is our report scope?

The report incorporates an in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2024–2030. All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

Carbon Capture and Storage (CCS) Market Overview:

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Governments worldwide are implementing policies to facilitate CCS adoption as part of broader climate strategies. In the UK, the government approved the country’s first commercially viable carbon storage facility, led by BP and Equinor, marking a significant step toward achieving net-zero emissions. This project is expected to capture millions of tonnes of CO₂ and store it under the North Sea, demonstrating strong policy support for CCS initiatives. Such regulatory developments are essential for providing the necessary framework and confidence for large-scale CCS investments. These factors positively influence the Carbon Capture and Storage (CCS) industry outlook during the forecast period.

COVID-19 / Ukraine Crisis — Impact Analysis:

• The COVID-19 pandemic disrupted global industries, including the CCS market. Lockdowns and economic slowdowns led to decreased industrial activities, reducing carbon emissions and diminishing the immediate demand for CCS technologies. Additionally, supply chain interruptions and deferred investments hindered project timelines. However, as economies recover, there’s a renewed emphasis on sustainable practices, positioning CCS as a pivotal component in achieving long-term carbon neutrality goals.

The geopolitical tensions arising from the Ukraine crisis have significantly influenced the global energy landscape. Europe’s efforts to reduce dependence on Russian energy sources have accelerated investments in alternative energy solutions, including CCS technologies. This shift aims to enhance energy security and meet climate objectives. Consequently, there’s an increased focus on developing CCS infrastructure to support a diversified and resilient energy system.

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Key Takeaways:

Asia Pacific is Projected as Fastest Growing Region

Asia Pacific is projected as the fastest growing region in Carbon Capture and Storage (CCS) Market with CAGR of 28.7% during the forecast period 2024–2030. The Asia-Pacific region is actively advancing Carbon Capture and Storage (CCS) technologies, driven by several key factors. Rapid industrialization has led to increased carbon emissions, prompting governments to implement stringent environmental regulations and adopt sustainable technologies. For instance, Japan has set ambitious net-zero emissions targets, fostering the development of CCS projects to meet these goals. The international collaborations are enhancing the development and deployment of CCS technologies. For instance, in 2024, Indonesia has signed agreements with neighboring countries to facilitate cross-border CO₂ storage, aiming to accelerate the growth of its CCS industry.

Oxyfuel Combustion Segment to Register the Fastest Growth

Oxyfuel Combustion segment is projected as the fastest growing segment in Carbon Capture and Storage (CCS) Market with CAGR of 26.1% during the forecast period 2024–2030. Oxyfuel combustion is a pivotal technology in the Carbon Capture and Storage (CCS) market, driven by several key factors. Primarily, it offers a more concentrated CO₂ stream, facilitating efficient capture and storage. Additionally, it reduces nitrogen oxide emissions, addressing environmental concerns. The technology’s adaptability to existing power plants enhances its appeal, enabling retrofitting and reducing implementation costs. Furthermore, its potential for integration with other CCS technologies, such as chemical looping combustion, presents opportunities for improved efficiency and cost-effectiveness. These drivers collectively position oxyfuel combustion as a promising solution for mitigating greenhouse gas emissions.

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Power Generation is Leading the Market

Power Generation held the largest market valuation in 2023. Governments worldwide are implementing stringent environmental regulations to meet climate goals. CCS technologies enable power plants to reduce carbon emissions, aligning with national and international commitments to mitigate climate change. For instance, the UK’s commitment to achieving net-zero emissions by 2050 has spurred investments in CCS projects, such as the Teesside gas-fired power station, which aims to capture and store CO₂ emissions. These factors collectively contribute to the growing adoption of CCS technologies in the power generation sector, facilitating the transition to a more sustainable energy landscape.

Environmental and Climate Commitments

Environmental and climate commitments are pivotal drivers in the Carbon Capture and Storage (CCS) market. Governments worldwide are implementing stringent regulations and policies to reduce greenhouse gas emissions, thereby incentivizing industries to adopt CCS technologies. For instance, the U.S. Department of Energy announced a $3.5 billion program to create large-scale regional direct air capture hubs, underscoring the nation’s dedication to climate goals. Similarly, the European Union aims to capture and store at least 450 million tons of CO₂ annually by 2050, highlighting the critical role of CCS in achieving decarbonization objectives. These initiatives reflect a global consensus on the necessity of CCS in mitigating climate change impacts.

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High Operational Costs

Implementing Carbon Capture and Storage (CCS) technology entails substantial financial investment, encompassing the installation of capture systems, transportation infrastructure, and secure storage facilities. These significant expenses often deter companies from adopting CCS solutions, especially in the absence of robust financial incentives or regulatory mandates. The International Energy Agency (IEA) notes that the high costs associated with CCS are a primary factor limiting its widespread deployment. Without sufficient economic support mechanisms, such as tax credits or subsidies, the financial burden remains a formidable barrier to the integration of CCS technologies into industrial operations.

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Report Coverage

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

By Formulation — Water-Borne, Solvent Borne, Powder

By Type — Epoxy, Alkyd, Acrylic, Polyurethane, Vinyl, Others

By End Use — Automotive, Aviation , Industrial, Oil & Gas, Marine, Building & Construction, Textiles, Others.

By Geography — North America, South America, Europe, APAC, RoW.

Key Takeaways

Asia-Pacific dominates the Protective Coating Resins Market owing to increasing demand of applications from various end use such as automotive, aviation and Others.

The growing popularity anti-corrosive coatings, is likely to aid in the market growth of Protective Coating Resins Market

will increase the market demand for Protective Coating Resins Market in the near future.

COVID 19 pandemic will create hurdles for the Protective Coating Resins Market.

Protective Coating Resins Market Segment Analysis — By Formulation

Water Borne segment holds the largest share in the Protective Coating Resins Market. Water-borne coatings are based on emulsifying the binder, pigments, and additives with water. Single-component emulsion coatings are used to form films by solvent evaporation. To use a waterborne coating, a spray application equipment designed for waterborne coatings is required. The spray guns have to be designed with corrosion resistant materials, such as plastic or stainless steel. To use a waterborne coating, a spray application equipment designed for waterborne coatings is required. The spray guns have to be designed with corrosion resistant materials, such as plastic or stainless steel.

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Protective Coating Resins Market Segment Analysis — By Type

Epoxy segment holds the largest segment in the Protective coating resins market due to their low volatility and unmatchable corrosion protection properties. The rising demand of environmentally friendly or volatile organic compounds (VOCs)-free protective coating resins in countries such as Germany and France are expected to drive this market. Whereas Epoxy Resin Coating is also used for coating for inner and outer surface of concrete and metal tanks. We use these coatings for the more effective and high strength of the surface. These are available in different quantity packaging. It is high in demand due to unique features like long life, water resistant and non-toxic in nature. They can be easily applied. It is an aesthetic and protective epoxy resin coating which has been specifically developed to meet the ‘In service’ protection of concrete, metal, and Others.

Protective Coating Resins Market Segment Analysis — By End Use Industry

Automotive sector has been the primary market for Protective Coating Resins Market. Epoxy-based coating technology was introduced in the vehicle production process 30 years ago, providing great advantages in preventing rust and corrosion on vehicles’ body and key metal parts. In addition to the use in corrosion-resistant paints, epoxies are used in other key applications of the automotive manufacturing industry because of properties such as heat resistance, adhesion and mechanical strength. automotive designers are developing new applications, such as components of electric/hybrid vehicles, parts for suspension systems, drive shafts, various kinds of load-bearing structures of car bodies, and others which will drive the market growth for protective coatings resins market.

Protective Coating Resins Market Segment Analysis — Geography

APAC dominated the Protective Coating Resins Market with a share of more than xx%, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the aviation and automotive industriesAccording to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2012–2018, with South East Asian countries having huge potential to grow.

Protective Coating Resins Market Drivers

Growing demand in various end use

Protective coating resins is used in various end use such as aviation, automotive, shipbuilding, construction and many others. The role of epoxy resins is to provide superior adhesion to metal and resistance to corrosive agents. Furthermore, epoxy enables the application of a thin, uniform coating directly onto the metal, even in very small spaces and cavities, creating a uniform texture. Epoxy resins are not only used in the automotive sector. Railways apply epoxies to replace steel in gear casings and other parts in order to reduce weight and improve service life by preventing damage from debris or corrosion. Epoxy provides excellent corrosion resistance that reduce the need for repair and maintenance in boats

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Implementation of Stringent Environment Regulations

Implementation of stringent environment regulations towards using eco-friendly coating is driving the demand for protective coating resins market. Protective and industrial coatings cover the vast majority of the surfaces we touch, lean against and walk past in our daily lives. Less awareness of this, is the fact that some of these coatings use solvents that emit Volatile Organic Compounds (VOCs), which pollute the air we breathe. Switching to eco-friendly waterborne coatings is, therefore, a major trend in the coatings market, and providing the products that can facilitate these alternative formulations — while providing improved functionality and better performance — is one of the many ways in which it is actively contributing to building a more environmentally friendly world.

Protective Coating Resins Market Challenges

High Price raw Material

Raw materials, in the form of individual chemical constituents that are incorporated into paints and coatings, represent an exceptionally diverse and vitally important sub-set of the overall specialty chemicals industry. They may either be added to a paint or coatings formulation during the product manufacturing process — or, in the case of multiple-component coatings systems — may be used to make coating components intended to be combined in the field to produce reactive, limited pot life products. Coatings raw materials can be grouped into four broad categories of chemical constituents: Resins, Pigments, Solvents, Additives. So, due to the high price of raw material the end product rate becomes higher

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Impact of COVID 19

The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of international transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for protective coating resins.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Protective Coating Resins Market. In 2019, the market of Protective Coating Resins Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Protective Coating Resins Market are The Dow Chemical, Momentive Specialty Chemicals, Royal DSM, BASF, Arkema, Cytec Coating Resins, Electrolube, Alberdingk Boley Inc., Brenntag Specialties Inc., among others.

Acquisitions/Technology Launches

In July 2019, Arkema completed the acquisition of ArrMaz, a global leader in specialty surfactants for crop nutrition, mining and infrastructure markets. The acquisition of this profitable, resilient and low capital-intensive business, which has an accretive impact from the first year, is another milestone in Arkema’s growth journey towards specialties that contributes to further reinforcing the Group’s profile.

Key Market Players:

The Top 5 companies in Protective Coating Resins Market are:

The Dow Chemical Company

Koninklijke DSM N.V.

Brenntag Specialties Inc.

Momentive Specialty Chemicals

BASF SE

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The market of FRP tanks is segmented in more briefly such as the resin type of FRP tank, Fiber Type, technology, Process Equipment/Applications and by the End-users.

What is FRP Tank?

It is a modern composite material to produce the chemical plant equipment like tank and vessels. The storage tank & vessels are manufactured by contact moulding method. FRP provides highest corrosive property to the products produce by moulding. This type of tanks has many other advantage such as lightweight, high physical strength, easy maintenance and less down time with good insulating qualities.

What are the applications of FRP Tank?

Application of FRP tank in is becoming crucial, we use it for water & wastewater, chemicals, and other oil and gas application because of the light weight and superior properties of composite material. FRP composites gives low maintenance and long product life. Many industry verticals is using fiber-glass-reinforced plastics (FRP) such as Metals and mining, Power generation, Manufacturing and others.

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Market Research and Market Trends of FRP Tank Market:

FRP tanks, due to light in weight and long life performance we can use as water storage for domestic purpose. Not only as a water tank, by the flexibility in FRP material, it also provided various type of piping, joining products with less cost compare to other material. FRP composites is ecofriendly it has recycling advantage also.

A new composite material advantage, bridge products require regular maintenance and replacement of components if it is made of general products. When it comes to FRP composites, FRP provides new line of standard FRP trail bridges with zero maintenance and long lasting.

FRP composite are widely replacing the old age iron, steel or other metal formed tanks and taking the properties to another level such as low cost, long life and no corrosion. Most of the refinery are also changing its metal pipes with FRP composite pipe due to the mechanical strength found in FRP.

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Who are the Major Players of FRP Tank Market?

The major players in this market are Luxfer Holdings, ZCL Composites, Inc, Denali Incorporated and 7 other companies.

What is our report scope?

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018–2023.

All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

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Key Takeaways from this Report

Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level — for product types, end use applications and by different industry verticals.

Understand the different dynamics influencing the market — key driving factors, challenges and hidden opportunities.

Get in-depth insights on your competitor performance — market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

Analyze the sales and distribution channels across key geographies to improve top-line revenues.

Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

Get a quick outlook on the market entropy — M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

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In March 2024, the United States Department of Energy (DOE) announced up to $6 billion for 33 initiatives aimed at transforming America’s industrial sector, strengthening domestic manufacturing, and reducing greenhouse gas emissions. This transformative federal investment is matched by the selected projects, which will increase welding activities and contribute to market growth. Furthermore, the welding industry has seen considerable technological breakthroughs in recent years, including the introduction of new techniques and equipment such as robotic and laser welding. For example, in November 2022, Comau SpA installed an automated welding system for Beijing Foton Daimler Automotive Co. (BFDA) The company stated that its welding technique will assist BFDA in meeting both present and future objectives, including a 50,000-unit annual production capacity target. These innovations improve productivity, quality, and safety, resulting in increased industrial usage.

Report Coverage

The report “Welding Market– Forecast (2024–2029)”, by IndustryARC, covers an in-depth analysis of the following segments of the welding market.

By Product Type: Equipment/Accessories (Welding Machines, Gas Cylinders & Regulators, Welding Helmets, Welding Goggles, Welding Gloves, Others), Consumables (Electrodes & Filler Materials, Gases, Fluxes & Wires, Others)

By Mechanization: Manual/Mechanized Welding, Automatic Welding, Robotic Welding

By Technique: Arc Welding, Resistance Welding, Oxy Fuel Welding, Others (Laser Beam Welding, Ultrasonic Welding, etc.)

By End-Use Industry: Automotive & Transportation, Aerospace & Defense, Building & Construction, Energy, Heavy Machinery, Others

By Geography: Korea, China, Japan, USA, EU, Others

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Key Takeaways

The shift towards environmentally friendly welding consumables is on the rise. Companies like, Ultrasonic Metal Welding, and Voestalpine Böhler Welding, ITW Welding are developing green consumables. More brands are expected to prioritize sustainable products, appealing to environmentally sensitive customers, and adhering to rules.

The welding market witnesses a growing trend in the adoption of automation and robotics. For example, in September 2023, Neuromeka demonstrated a 3D Vision Collaborative Robot for Welding at FABTECH. With the advent of advanced robots such as Novarc Technologies’ “Spool Welding Robot,” a single human welder can achieve a 3–5x boost in pipe welding output.

The accelerated development of the electric vehicle sector presents opportunities for welding technology, particularly in battery manufacturing and assembly. For example, the Brazilian Association of Electric Vehicles (ABVE) projects a 60% increase in fully electric and hybrid car sales in Brazil in 2024 compared to 2023. Many welds are required in EV battery packs to join different parts, such as cells and connections. Busbars, collector plates, and tabs are a few examples of these connections.

By Product Type — Segment Analysis

Consumables dominated the welding market in 2023. The consumables segment is further divided into electrodes, filler materials, gases, fluxes, and wires. Welding electrodes and filler materials are critical components of the welding process that influence the quality and longevity of the finished weld. Matching the right welding electrodes and filler materials is crucial for certain applications. Companies are extending their line of filler metals, driving up the market for welding consumables. For example, in August 2021, ESAB launched a new line of B3 SC electrodes and fluxes for SMAW, GTAW, and SAW for 2.25% Cr 1% Mo alloyed steels, SA-387 Grade 22, A335 Grade P22, and comparable materials. The new B3 SC filler metals have modernized formulas optimized for applications that demand exceptional toughness in both post-weld heat treatment and after-step cooling treatment.

By Mechanization — Segment Analysis

Automatic Welding dominated the welding market in 2023. Owing to its use, especially in industrial and manufacturing sectors where precision and productivity are paramount, automatic welding is advancing mechanization. Automatic welding technologies’ popularity has been gradually expanding as sensors and automation software have advanced. For example, John Deere, an American manufacturer corporation that manufactures agricultural machinery is using Intel’s AI technology to assist fix a costly, long-standing issue in the industrial welding process. As a result, new welding technologies, such as hybrid welding, additive manufacturing, or other ways, are opening up new possibilities in welding and attaching complex materials.

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By Technique — Segment Analysis

Arc Welding dominated the welding market in 2023. According to TWI Ltd, a multinational engineering and technology firm, arc welding procedures continue to be the primary source of material joining, accounting for 80% of all welding in India. Arc welding requires less expensive equipment and consumables. Arc welding is popular because it can join a wide range of metals and thicknesses, making it useful in a variety of applications such as construction, automotive, shipbuilding, pipeline welding, and fabrication. Arc welding equipment is also available in manual and automatic forms, giving it the flexibility to meet the needs of various production environments and requirements.

By End-Use Industry — Segment Analysis

Building & Construction dominated the welding market in 2023. Welding products are used to weld complex and huge buildings in the construction industry. The market’s expansion is being driven by the rapidly industrializing Asia Pacific region and other developing countries worldwide during the forecast period. India’s real estate and construction industries are thriving, and there is always a need for welding services for residential, commercial, and industrial projects. For example, in March 2022, the Airports Authority of India (AAI) began developing new and existing airports, with a projected capital investment of approximately Rs. 25,000 crores over the next five years. This includes building new terminals, expanding and modifying existing terminals, Airport Navigation Services (ANS) infrastructure, control towers, and technical blocks, among other things. These infrastructure projects will focus on modernizing and expanding ports, enhancing port connectivity, boosting port-linked industries, and developing coastal communities, all of which will spur demand for welding.

By Geography — Segment Analysis

China dominated the dominated the welding market in 2023. The region’s dominance is attributed to the flourishing manufacturing sectors, rapid urbanization, and extensive infrastructural developments. For instance, In January 2022, China unveiled plans to develop its construction industry during the 14th Five-Year Plan (2021–2025), paving a pillar of the country’s economy on a greener, smarter, and safer path. According to the OECD TiVA database, China is the world’s sole manufacturing superpower, and in terms of gross production, China’s share is 3 times the US’ share, 6 times Japan’s in 2023. With production hubs for electronics, automotive, construction, and shipbuilding, China has a consistently high demand for welding consumables.

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Drivers — Welding Market

• Large-scale infrastructure projects are necessitating substantial welding operations as a result of rising industrialization

The welding and cutting business has enormous potential for expansion primarily due to the growing emphasis on infrastructure development projects. Large-scale welding projects include the construction of buildings, bridges, ships, offshore oil platforms, and oil and gas pipelines. For example, in March 2023, US President-elect Joe Biden’s $7 trillion “Build Back Better” proposal featured huge new infrastructure spending aimed at revolutionizing the country’s old and underutilized infrastructure networks.

Infrastructure development will also play an important part in implementing the €1 trillion European Green Deal. According to the China National Bureau of Statistics, the total projected investment in recently started projects during the period climbed by 23.3% in 2022 on an annual basis. To guarantee that these welding projects are finished safely, effectively, and within the allotted time and budget, a great deal of planning, coordination, and execution is needed. This rising industrialization and accompanying infrastructure development drive the demand for welding operations across various sectors.

• The surging automotive and transportation sector

The automobile industry is a major contributor to welding market growth. To create various types of cars and parts, complex welding techniques and equipment are required. Rapid urbanization is driving up global demand for automobiles in developing countries like China, India, Brazil, and Russia. For instance, the automotive industry in India produced a total of 2,59,31,867 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Three Wheelers, and Quadricycles in in FY-2022–23, as against 2,30,40,066 units in FY-2021–22.

According to the European Automobile Manufacturers’ Association (ACEA), worldwide car manufacturing reached approximately 76 million units in 2023, a significant 10.2% rise from the year before. This boom was fueled by positive production trends that occurred across the globe. As of June 2023, the EU Commission had chosen 107 transport infrastructure projects to receive nearly €6 billion in EU funding from the Connecting Europe Facility (CEF), the EU’s strategic investment instrument in transport infrastructure. The need for specialized automotive welding technology and services therefore drives the welding market along with the production of various vehicle segments.

Challenges — Welding Market

• Shortage of skilled workers and high labor cost

According to the American Welding Society, the US will require more than 360,000 welders by 2027 and the current welder shortage is mostly caused by the expansion of the new industry and the resulting requirement for skilled labor. According to data from the Weld Australia 2023 member poll, there will be a minimum of 70,000 welders shortage in Australia by 2030. This lack of welders is endangering industries across the globe and pushing down welding revenue. Manufacturing requires welding, and since there has been a labor shortage in the welding sector for several years, there are a lot of worries about this sector. The demand for qualified welders has consistently outpaced supply.

Several causes are listed as contributing to the skills gap, including retired workers, an increasing sector, and young men’s and women’s preconceptions about working in manufacturing. However, one of the leading contributors is an aging workforce. For example, the Bureau of Labor Statistics predicts that welder positions will rise by 2% between 2022 and 2031, which is significantly less than the average for all occupations. The global welding market is facing issues as older tradespeople, many of whom belong to the baby boomer generation, are retiring at a faster rate than firms can replace them.

• Deployment of sustainable manufacturing strategies

Environmental concerns are becoming increasingly important in all industries, including welding. Implementing eco-friendly methods such as using renewable energy, decreasing waste through effective material management, and using environmentally friendly welding technology will help to reduce the industry’s environmental impact while promoting sustainability. For example, Metal Active Gas (MAG) welding is one of the most sustainable welding procedures. It is extremely efficient, clean, fast, precise, and adaptable in practice. Laser gas metal arc welding is another eco-friendly welding process.

Metalworkers face several hurdles while implementing green welding methods. Managing implementation concerns is one of the most difficult challenges. The transition from traditional welding processes to more sustainable ones takes time, effort, and investment in new equipment and training. Another problem is achieving a balance between environmental effects and productivity. Green welding approaches frequently necessitate slower welding speeds or lower heat inputs, which can impact efficiency and project timeframes. Metalworkers must discover strategies to address these issues while also reducing the environmental impact of their work.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the welding market. Major players in the welding market are the Lincoln Electric Company, ACRO Automation Systems, Inc., Miller Electric Mfg. LLC, Kobe Steel, Ltd., Hyundai Welding Co., Ltd., Voestalpine AG, Air Liquide, Ador Welding Ltd., Tianjin Bridge Welding Materials Group Co., Ltd., Gedik Welding among others.

Developments:

In April 2024, Kemppi launched the Minarc T 223 ACDC GM, which is a portable multi-voltage welding equipment that provides high-quality AC/DC TIG welding and excellent weld cleaning.

In February 2023, Miller Electric Mfg. LLC, one of the well-known manufacturers of welding equipment and consumable products, has unveiled its Copilot collaborative welding system. This system will enable welders to achieve higher welding quality and optimize the usage of consumables, allowing users to meet increased demand.

In February 2023, TriMas, a manufacturer of a wide range of products primarily for the consumer, aerospace, and industrial markets, agreed to acquire Weldmac Manufacturing, a manufacturer of metal fabricated assemblies and components for aerospace and military. Weldmac made roughly $33 million in revenue in fiscal year 2022.

Ring Main Unit Market Overview:

Ring Main Unit Market size is estimated to reach $5.2 billion by 2030, growing at a CAGR of 8.0% during the forecast period 2024–2030. 

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RMUs offer enhanced safety features like arc-flash protection which drives their adoption in hazardous environments. Moreover, the modernization of power distribution infrastructure as well as adoption of renewable energy are driving the market. In addition, the increasing investment in power infrastructure is also driving the market.

The two major trends in the Ring Main Unit Market are the adoption of eco-friendly technologies and the integration of smart systems. Increasingly, ecofriendly advancements like Siemens’ F-gas free RMUs with climate neutral Clean Air insulation are coming to the fore. These solutions eliminate SF6 gases and reduce the carbon footprint of power distribution systems by an order of magnitude, while maintaining high efficiency and safety. Moreover, smart technologies are integrated into RMUs to make them intelligent solutions. A key enabler provided by digitalization is the remote monitoring, automated control and IoT connectivity of features as seen in ABB’s SafeLink RMUS. These capabilities improve operational efficiency, support predictive maintenance, and integrate easily with the modern decentralized grids. These trends, together, guarantee that RMUs satisfy increasing requirements for sustainability, reliability, and sophisticated functionality in power distribution.

COVID-19 / Ukraine Crisis — Impact Analysis:

COVID 19 pandemic heavily impacted Ring Main Unit (RMU) market by creating delays in manufacturing, supply chain issues and project delays. Reduced availability of the workforce and the slow pace of production of RMU components in the regions with strong dependence on imports due to lockdowns and restrictions. Key sectors such as industrial and commercial projects continued to demand less due to persisting economic uncertainties.

Russia Ukraine war also added to the RMU market by aggravating the supply chain problems and intensifying the energy security issues. This conflict disrupted global trade in all critical raw materials for RMU costs, such as copper and steel, and this state of inflation. At the same time, energy supply disruptions in Europe triggered investments in reliable and decentralized power systems.

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Key Takeaways:

APAC Dominates the Market

APAC is the dominant region in the Ring Main Unit market driven by industrialization, growing demand for power and infrastructure development. Countries like China, India and Japan are heavily investing in expanding their power distribution networks to support growing electricity demand. According to the Central Electricity Authority, Government of India, India generated 1,949 TWh of electricity in FY 2023–24, with 1,734 TWh coming from utilities, and achieved a per capita electricity generation of 1,395 kWh, reflecting substantial energy demands. Additionally, the region’s focus on renewable energy integration with extensive wind and solar projects increases the deployment of RMUs for efficient power distribution. There is a need for reliable electrical systems, further fueling RMU demand. Moreover, APAC’s strong manufacturing base reduces production costs for RMUs, making them more accessible to local utilities and industries.

Gas Insulated Represent the Largest Segment

The Ring Main Units (RMUs) market is dominated by Gas-insulated RMUs which are characterized by a compact design, high efficiency, and ability to support reliable electricity distribution in urban areas with limited space. This trend is further underscored by the expansion efforts of Siemens India, which were announced on May 2024. Siemens will invest $3.95 million to enhance its gas insulated switchgear (GIS) production capacity by 23% which includes 22,000 feeders for its Ring Main Unit. The expansion will be phased over three years from 2024–25 and will be funded from internal accruals. Such investments demonstrate the increasing need for gas insulated RMUs, which are essential to modern power systems for switching, transformation, measuring and distributing electrical energy in a reliable and efficient way. Thus, gas insulated RMUs are a preferred choice to address the rising energy needs globally due to their scalability and performance.

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Industrial is the Largest Segment

The industrial sector is the largest application area for RMUs owing to its high demand for reliable and uninterrupted power supply. Industries such as manufacturing, mining, oil & gas and petrochemicals operate in environments where power outages can result in significant financial losses and operational downtime. RMUs are preferred in these settings due to their compact design, durability and enhanced safety features. Additionally, industries often require medium-voltage distribution systems where RMUs provide an ideal solution for efficient load management and fault isolation. The growing trend of automation and electrification in industrial operations further boosts the demand for advanced RMUs with smart monitoring and control capabilities. According to Aktif Elektroteknik, RMUs are essential components in power distribution particularly valuable in industrial applications and humid environments. These medium-voltage switchgear systems, compact yet powerful, ensure steady electricity flow and can quickly switch between power sources during repairs or emergencies, minimizing downtime. 

Their versatility, low maintenance, and adaptability for indoor and outdoor installations make them indispensable for industrial use. With advancements in smart grid technology and renewable energy integration, RMUs continue to evolve, offering enhanced capabilities to support modern industrial operations. This makes them a cornerstone for ensuring operational continuity and energy efficiency in industries worldwide.

Demand for Uninterrupted Electricity in Critical Applications to Drive the Market

The demand for uninterrupted electricity in critical applications, such as medical facilities, data centers and manufacturing, is a significant driver for RMU installations. The rapid growth in global electricity demand is projected to increase by around 4% in 2024, up from 2.5% in 2023, which compounds this need, according to the IEA’s Electricity Mid-Year Update. This is the highest annual growth rate since 2007, except for exceptional rebounds following crises. As global electricity consumption grows, with a further 4% growth expected in 2025, consistent power supply is critical to the functioning of critical sectors. They expect renewables to expand rapidly, accounting for 30% of global electricity supply in 2023 and 35 percent in 2025. Though, strong electricity demand, in economies like India with 8% growth and China with over 6% growth TO ensures stable CO₂ emissions from coal reliance. This robust demand demonstrates the need for reliable RMU systems to maintain uninterrupted power to the energy intensive infrastructure of modern economies.

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Lack of Skilled Professionals to Hamper the Market

There is a shortage of skilled workers required for installation, operation and maintenance. RMUs involve sophisticated technologies including advanced circuit breakers, insulation systems and digital monitoring tools which demand expertise for effective handling. In developing countries, where power infrastructure development is accelerating, the gap between workforce capabilities and technological advancements is particularly pronounced. This skill deficit leads to delays in project implementation, suboptimal system performance and increased operational risks. According to TeamLease, this problem is very significant in the renewable energy sector, where there is a skill gap of nearly 1.2 million workers. Moreover, TeamLease Services states, the industry will need 1.7 million trained workers by 2027, which is when demand for skilled professionals is expected to rise by 26%. This is a similar challenge occurring in other power sector infrastructure sectors, including RMUs, where the shortage of skilled professionals not only slows down growth, but also raises concerns about the quality and reliability of systems deployed around the world.

Key Market Players:

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

Siemens AG

Schneider Electric SE

Eaton Corporation Plc

ABB Ltd.

GE Vernova

Toshiba Corporation

CG Power and Industrial Solutions

CHINT Group

LS Electric Co., Ltd

Lucy Electric

Behavioral Rehabilitation Market Overview:

The Behavioral Rehabilitation Market size is estimated to reach $398 Billion by 2030, growing at a CAGR of 5.1% during the forecast period 2024–2030.

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Advancements in treatment methodologies also play a crucial role. Innovative approaches, including cognitive-behavioral therapy (CBT) and dialectical behavior therapy (DBT), have been shown to deliver better patient outcomes, prompting more people to engage with rehabilitation programs. The integration of technology into services such as teletherapy and mobile health applications makes access easier and more appealing, particularly for younger populations accustomed to digital solutions. Additionally, supportive governmental policies and increased funding for mental health initiatives have created a more favourable environment for service providers, allowing them to expand their offerings. Enhanced insurance coverage for mental health treatments further incentivizes individuals to seek rehabilitation services.

COVID-19 / Ukraine Crisis — Impact Analysis:

During Covid-19, vulnerable populations, including those with pre-existing mental health conditions and marginalized communities, experienced heightened difficulties, underscoring the need for targeted rehabilitation services. Additionally, organizations recognized the mental health struggles of remote employees and began implementing workplace mental health initiatives, creating partnerships for tailored support with rehabilitation providers. The long-term effects of social isolation are likely to persist, indicating a sustained demand for behavioral health services. Moreover, shifts in insurance coverage during the pandemic, which expanded telehealth access, may continue, facilitating easier access to care.

During Russia- Ukraine war, many mental health facilities in Ukraine have suffered damage or destruction, disrupting essential services and limiting access to care for those in need. The influx of refugees into neighboring countries has created an urgent demand for cross-border mental health support initiatives, prompting organizations to collaborate on mobile clinics and community outreach programs. The long-term psychological effects, especially on children and young adults, will likely result in sustained demand for behavioral rehabilitation services as these individuals navigate the trauma of their experiences. Additionally, the crisis has highlighted the need for training mental health professionals in trauma-informed care to better address the specific needs of individuals affected by the conflict.

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Key Takeaways:

North America is Leading the Market:

North America region held a major market share in 2023 driven by its extensive need for mental health services. A significant portion of the population, with approximately 26% of American adults experiencing diagnosable mental disorders, drives demand for various treatment options. The World Health Organization (WHO) reported that in 2023, 23.1% of U.S. adults, totaling 59.3 million individuals, experienced a mental health condition. Furthermore, data from Mental Health America in 2023 revealed that 10.8%, or over 5.5 million U.S. adults with a mental illness, remain uninsured. Also, The U.S. has one of the highest rates of internet penetration and smartphone ownership in the world. This leads young people to prevalence of disorders such as internet addiction, gaming , and gambling is becoming more pronounced in the U.S., presenting substantial growth opportunities for specialized market solutions.North America provides a wide array of treatment options, ranging from traditional in-person therapy to cutting-edge teletherapy platforms, effectively meeting the diverse needs of patients. The region’s robust healthcare infrastructure encompasses a broad spectrum of mental health services, including counseling and therapy, making it easier for those in need to access support.

• Counselling Treatment is the largest segment

Counselling achieved the largest market valuation in 2023, largely due to its effectiveness in addressing a variety of mental health issues, including anxiety, depression, and substance use disorders. It offers individuals a supportive environment where they can explore their thoughts and feelings, develop coping strategies, and navigate challenges with the guidance of trained professionals. The growing awareness of mental health and the importance of seeking help has significantly boosted the demand for counselling services, as more people proactively seek support to manage their mental well-being. Moreover, the incorporation of diverse therapeutic approaches — such as psychotherapy, cognitive-behavioral therapy (CBT), motivational interviewing, and group therapy — enhances counselling’s effectiveness, making it a preferred option for those in need of rehabilitation. According to a May 2024 article from Help Guide, 75% of individuals in the U.S. who undergo psychotherapy report improvements in their emotional and psychological well-being. Additionally, the American Association of Marriage and Family Therapy (AAMFT) found that three-fourths of couples who participate in counselling see enhancements in their relationships. As mental health stigma continues to diminish and the demand for accessible support increases, counselling treatment is well-positioned to maintain its leading role in the market.

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• Anxiety Disorder is Leading the Market

In 2023, anxiety disorders accounted for the largest market share, primarily due to their widespread prevalence and significant impact on individuals’ daily lives. The debilitating effects of anxiety can greatly interfere with personal and professional activities, creating a strong demand for effective interventions and support. According to the U.S. Census Bureau Household Pulse Survey, anxiety disorders are recognized as the most common mental illness globally, affecting approximately 301 million people — around 4% of the world’s population. This category includes generalized anxiety disorder, panic disorder, social anxiety disorder, and specific phobias, impacting millions worldwide. The growing acknowledgment of anxiety as a critical public health concern has heightened the demand for effective treatment options, including therapy and medication. Additionally, increased awareness and education surrounding mental health have fostered a greater acceptance of seeking help, further driving the market for anxiety disorder treatments.

• Advancements in Treatment Approaches Drives the Market

Advancements in treatment methodologies are greatly propelling the behavioral rehabilitation market by introducing innovative therapies that improve patient outcomes. Approaches such as cognitive-behavioral therapy (CBT), dialectical behavior therapy (DBT), and exposure therapy are gaining popularity due to their effectiveness for various mental health disorders. Additionally, the integration of AI technologies enables more personalized and accessible treatment options tailored to individual patient needs. For instance, in October 2024, NextGen Healthcare announced its AI-driven ambient-listening solution, NextGen Ambient, which is now available for ophthalmologists and optometrists. This tool transcribes patient-provider conversations in real-time and utilizes AI to summarize patient encounters within 60 seconds of a visit. Furthermore, emerging therapies like ketamine-assisted psychotherapy have shown promising results for treatment-resistant depression. Ongoing research continues to reveal new evidence-based practices that enhance treatment efficacy and improve recovery rates. Consequently, these advancements not only draw more individuals seeking assistance but also motivate healthcare providers to expand their services, thereby driving market growth.

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• Resource Limitations and Accessibility to Hamper the Market

According to an article published in the BMC journal in March 2023, prior to the COVID-19 pandemic, around 50% of patients with depression reported challenges in accessing medical care, while inpatient treatment capacity was reduced to just 60% of pre-pandemic levels. Many areas, especially rural and underserved communities, face a significant shortage of mental health professionals and facilities, complicating access to necessary treatments. This scarcity can lead to overwhelmed providers, resulting in longer wait times and reduced availability of essential services. Additionally, individuals in these regions may be unaware of the resources available to them, further hindering their ability to seek help and exacerbating the challenges of mental health care access. Financial limitations further restrict the availability of programs, resulting in long wait times and fewer treatment options. A 2023 survey by Mental Health America (MHA) found that nearly one-third of adults with mental health conditions were unable to receive the treatment they needed, with many citing cost as a major barrier. These obstacles not only diminish the quality of care but also perpetuate the stigma surrounding mental health, discouraging individuals from seeking help. Overcoming these challenges will require increased funding, enhanced community outreach, and the creation of innovative solutions to improve access to mental health services.

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Behavioral Rehabilitation Market. The top 10 companies in this industry are listed below: 1. Tridiuum Inc. 2. Acadia Healthcare Company, Inc. 3. Baxter International 4. Aurora Behavioral Health System 5. Centene Corp. 6. Caron Treatment Centers  7. People Care Inc. 8. Newport Academy  9. Advanced Psychiatric Solutions  10. Magellan Health, Inc.

Functional Food &Beverage Market Overview:

The Functional Food & Beverage Market size is estimated to reach $720 Billion by 2031, growing at a CAGR of 8.1% during the forecast period 2025–2031. 

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The Functional Food & Beverage market is driven by popularity of functional foods that support cognitive health and emotional well-being. Another trend is fortification of food. Food fortification is the process of adding vitamins and minerals to food to increase its nutritional value. Legislation requiring the fortification of non-wholemeal wheat flour with folic acid in England was approved by Parliament in January 2025. According to the Department of Health and Social Care (DHSC), fortification of flour with folic acid will prevent 200 cases of neural tube defects per year and improve the health of pregnant women. The law will take effect at the end of 2026.

Key Takeaways:

Asia-Pacific Leads the Market

Asia-Pacific leads the Functional Food & Beverage market due to the increasing health awareness and growing demand for convenient, health-focused products. Most Asian countries have strong traditions of consuming herbal remedies, probiotics and nutrient-rich foods which align with the functional food trend. In November 2024, TurtleTree, a startup based in Singapore, specializing in precision fermentation of bioidentical proteins, entered into its first domestic partnership with Mad Foods, a producer of ready-to-drink coffee beverages. As part of the collaboration, Mad Foods will integrate TurtleTree’s LF+ ingredient, a bioidentical lactoferrin protein, into its line of oat milk lattes. This addition is expected to enhance the nutritional profile of the beverages by providing immune support, promoting gut health and aiding in iron regulation. The launch of these functional beverages in Singapore is anticipated in Q2 2025, subject to regulatory approval. Additionally, government initiatives promoting health and wellness coupled with a booming e-commerce sector further support market growth.

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Dairy Products Segment to Grow the Fastest

The dairy segment leads the functional food and beverage market due to its versatility and widespread consumer acceptance. Products such as fortified milk, yogurt and cheese are rich in probiotics, proteins and essential nutrients that cater to health-conscious consumers. Dairy-based functional foods are often positioned as solutions for digestive health, bone strength and immune support. In August 2024, The Collective in the UK launched functional yoghurt pouches. The products are targeted at both adults and kids and come in six varieties including Immunity, Kickstart, Restore, Invigorate, Gut Feel and Uplift. Moreover, innovations in lactose-free and plant-based dairy alternatives also contributes to segment growth.

Probiotic and Prebiotic represent the Largest Segment

Probiotic and prebiotic products dominate the functional food and beverage market due to their proven benefits for gut health and overall well-being. These ingredients are widely incorporated into yogurt, fermented beverages, dietary supplements, and even baked goods. The growing awareness of the gut-brain axis and the role of probiotics in boosting immunity has driven demand for such functional products. Prebiotics promote the growth of beneficial gut bacteria and are increasingly popular in fiber-rich foods and drinks. In April 2023, Sunsweet Growers Inc. launched three products including Sunsweet’s Probiotic+ Prunes that is formulated with BC30 probiotics and prebiotic fiber to support consumers’ gut health as a standalone snack or meal addition.

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Awareness about Immunity and Gut Health Drives the Market

The increasing awareness of immunity and gut health is a major driver for the growth of Functional Food & Beverage market. 7 out of every 10 people in urban India experience digestive or gut health issues, as per a survey conducted by Country Delight in partnership with Indian Dietetic Association. By making digestive health a priority consumers can manage their well-being and mitigate the risk of gastrointestinal disorders and associated complications. As a result, there is a growing demand for functional food and beverage that benefit gut health. Ever since the pandemic, there has been a growing interest in immunity boosting functional food and beverages which is still going strong. Salada Foods Jamaica Limited reported that in Q3 2024, the sales of its Golden Turmeric Latte product resulted in a 46% jump in revenues.

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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 Functional Food &Beverage Market. The top 10 companies in this industry are listed below: 1. Nestlé S.A. 2. Danone S.A. 3. PepsiCo, Inc. 4. The Coca-Cola Company 5. General Mills, Inc. 6. Kellogg’s Company 7. Unilever 8. ConAgra Brands Inc  9. Arla Foods 10. Mondelez International Inc

Organic Skincare Products Overview

Organic Skincare Products market size is forecast to reach US$23.6 billion by 2031, after growing at a CAGR of 8.8% during 2025–2031. 

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A major trend in the market is social media marketing. The popularity of social media influencers and bloggers educates consumers on the benefits of choosing organic skincare products. As a results, brands are collaborating with influencers to showcase their latest offerings. Another trend in the market is blue beauty movement. Blue Beauty centers around sustainability, promoting eco-friendly packaging, marine-derived ingredients like algae and seaweed and practices that protect the ocean and aquatic ecosystems. For instance, French brand Edulis has created a line of cosmetics formulated with oyster oil extracts. This nourishing and stimulating natural active component results in a firmer, fresher feel and an immediate tightening action that is safe for skin.

COVID-19 / Ukraine Crisis — Impact Analysis:

The COVID-19 pandemic significantly impacted the organic skincare market. Lockdowns, supply chain disruptions, and reduced consumer spending on non-essential items led to a decline in sales. However, increased consumer focus on self-care and wellness during the pandemic partially offset these challenges, driving demand for organic skincare products.

The Russia-Ukraine war indirectly influenced the organic skincare market. The conflict led to disruptions in the supply of natural ingredients such as oils and extracts, which are key components in organic skincare formulations. Rising raw material prices and supply chain challenges increased production costs, compelling manufacturers to adopt innovative sourcing strategies to maintain product availability.

Key Takeaways

Body Lotions are the Leading Segment

Body lotions are the largest type in the organic skincare products market due to their versatility, effectiveness and widespread use. This product is preferred for their ability to hydrate, nourish and protect the skin while catering to various skin types and concerns. Lotions are ideal carriers for active natural ingredients like plant extracts and essential oils, enhancing their efficacy. Their lightweight texture and ease of application make them popular among consumers. Moreover, the increasing focus on eco-friendly formulations has driven the development of creams and lotions with biodegradable and recyclable packaging.

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Plant Extracts are the Largest Segment

Plant extracts represent the largest segment in the organic skincare products market as consumers increasingly value natural and sustainably sourced ingredients. Extracts from aloe vera, chamomile, green tea and calendula are widely used for their skin-soothing, hydrating and anti-inflammatory properties. These ingredients appeal to eco-conscious consumers seeking products free from synthetic chemicals. In April 2023, INNISFREE launched its new Green Tea Seed Serum for all skin types. The product’s function is to hydrate and strengthen the skin’s moisture barrier with an instant 710% increase in moisture and 92.3% improvement in the skin barrier within 30 minutes, as per the company. Advances in extraction technologies have improved the efficacy and stability of botanical actives, further boosting their popularity.

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Europe Dominates the market

Europe leads the organic skincare market, driven by its highly informed consumer base and stringent regulatory standards. The European Union’s commitment to sustainability and environmental preservation encourages the adoption of eco-friendly and organic beauty products. Countries like Germany, France and the UK dominate the market supported by high consumer awareness of clean and natural ingredients. The presence of established organic skincare brands and the growing trend toward vegan and cruelty-free cosmetics further boost market penetration. More than 70% of German consumers valued sustainability when purchasing cosmetics and personal care products in 2023, as per the German Consumer Centre.

Growing Concerns Over Synthetic Ingredients to Drives the Market

The increasing use of synthetic ingredients in conventional skincare products drives the organic skincare market. Growing concerns about the potential side effects of synthetic chemicals such as skin irritation and long-term health impacts, have led consumers to seek natural alternatives. According to estimates, over 40% of conventional skincare products contain synthetic preservatives or fragrances. However, several countries are imposing stricter regulations on the use of synthetic chemicals in cosmetics. As consumers and regulatory bodies push for transparency and clean formulations, the demand for organic skincare products is expected to rise.

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Price of Organic Ingredients to Hamper the Market

The high cost of organic ingredients poses a significant challenge to the growth of the organic skincare market. Sourcing organic ingredients is difficult and often required specialized processes for extraction. This drives up the cost of raw materials used in organic skincare formulations. Additionally, the certification process for organic ingredients involves stringent regulatory requirements further increasing expenses for manufacturers. These higher production costs are often passed on to consumers making organic skincare products less affordable for price-sensitive buyers.

Key Market Players

Global Organic Skincare Products top 10 companies include:

L’Oréal Group

Groupe Rocher

Beiersdorf AG

The Estée Lauder Companies Inc.

Shiseido Co. Ltd.

Weleda AG

Beiersdorf AG

Kao Corporation

Coty Inc.

L’Occitane en Provence

Aircraft Gearbox Market Overview:

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One of the major trends is use of advanced ceramic in aircraft. Ceramics excel due to their exceptional hardness, providing outstanding wear resistance, crucial for applications like gears facing constant friction. Their remarkable thermal stability allows them to function reliably in high-temperature environments. Furthermore, their inherent corrosion resistance makes them suitable for use in challenging chemical conditions, offering a significant advantage over many metals. As per KYOCERA Corporation, fine Ceramics exhibited significantly less abrasion, demonstrating approximately 90% reduction compared to stainless steel samples. Leveraging ceramics unique properties allows manufacturers to significantly enhance gearbox performance, efficiency, and reliability. Continued research and development will further drive even wider adoption of ceramics in future aircraft gearboxes. Another trend is additive manufacturing. Additive Manufacturing (AM), also known as 3D printing, is emerging as a transformative technology within the aircraft gearbox market. This revolutionary technique offers significant advantages over traditional manufacturing methods, enabling the creation of complex geometries with unprecedented precision and efficiency.

Aircraft Gearbox Market — Report Coverage:

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

Attribute

Segment

By Gearbox Type

· Accessory Gearbox (AGB)

· Reduction Gearbox (RGB)

· Actuation Gearbox

· Auxiliary Power Unit (APU) Gearbox

· Tail Rotor Gearbox

By Power Rating

· Low Power

· Medium Power

· High Power

By Material Type

· Aluminium Alloys

· Steel

· Titanium Alloys

· Composites

By Aircraft Type

· Commercial Aircraft

· Military Aircraft

· Helicopters

· General Aviation

· Business Jets

By Application

· Turbofan Engines

· Turboprop Engines

· Helicopters

· Tiltrotor Aircraft

· Other

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 & New Zealand 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 COVID-19 pandemic had a large impact on the aircraft gearbox market due to larger effects realized in the aviation sector. The pandemic situation could bring an imminent decline in air travel across the globe in various situations such as lockdown, travel restrictions, and low passenger confidence. This resulted in lower revenues of airlines and a subsequent reduction in orders for new aircraft; aircraft gearboxes would be directly hit under this condition. Major aircraft manufacturers like Boeing and Airbus reduced or delayed aircraft production, thus indirectly impacting demand for gearboxes within commercial and military aircraft. Until the gradual rebound of flying across the world, recovery in the aircraft gearbox market hereby materialized, but very slow, especially in international and long-haul travel segments. Regarding the production and MRO activities, new orders would arise, which will, in turn, ensure an increased demand for gearboxes as airlines return to profitability.

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• The Russia-Ukraine war has affected the global aircraft gearbox market due to geopolitical, economic, and industry value chain causes. Both Russia and Ukraine are major suppliers of critical raw materials for aerospace manufacturing, including but not limited to titanium, aluminum, and steel. Disruptions to supplies of these materials have led to the impact of aircraft parts production, including gearboxes. Such aircraft gearbox manufacturers experienced delays, increases in price, and complication in supply chain due to the restricted access to some raw materials, which mean a limited number remains available to production. Furthermore, western sanctions against Russia worsen the problems for the supply chains as there is reduced ability to move materials and parts from Russia to global markets. Since several years, some aircraft gearbox manufacturers are facing problems with regard to the supply of specific raw materials and parts, especially in Europe and the U.S.; hence, production processes have been delayed. Key Takeaways:

North America dominates the market

North America, in the aircraft gearbox market, accounted for 35% of the market share in 2023. A robust aerospace industry with advanced innovative capabilities, leading defense spending, as well as high demand for both commercial and military aircraft, are some of the primary factors that attribute to the dominance in the aircraft gearbox market. United States is one of the global military leaders, with more resources channeled into its defense budget compared to any other country. The President’s requested DoD budget for FY2024 is $842 billion, an increase of $26 billion, or 3.2% over the enacted base level of $816 billion for FY2023. The DoD budget request has grown by almost $100 billion or 13.4%, from FY2022 to FY2024. This huge investment directly drives demand for military aircraft, such as helicopters, fighter jets, and UAVs. Gearboxes are integral components in such platforms and contribute significantly to their functioning. In general, the defense sector reflects a major market driver for aircraft gearboxes used in rotorcraft and fixed-wing aircraft.

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Medium Power dominated the market

This range of medium power dominates the aircraft gearbox market because it has a versatile application in a wide variety of aircraft, from commercial to military aviation, where these rating-powered engines are more frequently used. Gearboxes within this range are critical for power transmission management-the engine and other vital systems such as rotor blades or propellers-optimize the performance of the engine and fuel economy. These are also typical for commercial and military segments of aircraft. This particular power range proved to be well-suited for medium to large aircraft, providing an optimal combination of power output and fuel efficiency. Within this power rating fall quite a few aircraft types that may also include regional jet engines, helicopters, and some military transport planes. The variety of gearboxes within different aircraft allows this segment ranging from 1500–3000 kW to adapt to various aircraft designs. The CT7 Engine of GE provides the usual power range of 1500–3000 kW in military and civilian helicopters, including Sikorsky S-92. In short, medium power is certainly dominating the aircraft gearbox market, as it coincides with the power demand of all commercial and military aircraft, specifically the helicopters.

Titanium alloy dominates the market

Titanium alloys dominate the aircraft gearbox market due to their exceptional combination of properties such as high strength-to-weight ratio, excellent corrosion resistance, high-temperature resistance, and outstanding fatigue and stress resistance. Ti-6Al-4V, often referred to as the ‘workhorse’ of the titanium industry, is the most widely used titanium alloy, accounting for over 50% of global consumption. This versatile material, with a service temperature limit of approximately 350°C (660°F), exhibits high strength, light weight, excellent formability, and superior corrosion resistance, making it a global standard in aerospace applications. Ti-6Al-4V finds extensive use in various critical aerospace components, including aircraft turbine engine components, structural elements, fasteners, and high-performance automotive parts. Its exceptional properties are particularly crucial for high-stress, load-bearing applications within gearboxes, such as shafts, bearings, and casings. By incorporating titanium alloys, manufacturers can ensure that transmission systems in aircraft like the Boeing 787, Airbus A350, and military helicopters such as the UH-60 Black Hawk operate efficiently and reliably for extended periods.

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Growing New Aircraft Deliveries Drives the Market

Increasing aircraft deliveries remain the principal driver for growth in the market for aircraft gearboxes, driven mainly by the global demand for commercial, military, and regional aircraft. With airlines maintaining the pace of expansion and modernization and their defense forces pursuing fleet renewals, demand for efficient, lightweight, and reliable gearbox systems has increased significantly. Spurred by the economic growth of continents like Asia-Pacific, North America, and Europe, the growing amount of air traffic worldwide has been floated by record new aircraft orders. According to The Economic Times, Airbus SE, the European plane maker, hauled in 2,094 net plane orders in 2023 in an aviation boom. The increase in demand by a growing percentage shows higher passenger traffic, as airlines prepare for more journeys by air. Additionally, most airlines are replacing older fleets with new fuel-efficient models to cut down operating expenses and also meet the increasing environmental regulations. Modern aircraft come fitted with advanced gearboxes that play an important role in reducing weight and further optimizing fuel efficiency. With this trend, increasing aircraft deliveries tend to have a positive correlation with the direct impact on the aircraft gearbox market, hence giving one indication of the importance of these parts in performance and sustainability for the next decade’s aircraft.

High Costs and Complexity to Hamper the Market

High cost and the complexity of designing, manufacturing, and maintaining gearbox systems remain paramount challenges to the aircraft gearbox market. It is a very important device in an engine and considered a key component in propulsion because it requires highly precise engineering skills and strict rigorous safety standards. Due to its high costs and complicated design, creates a serious challenge to manufacturers, suppliers, and operators throughout the aerospace industry. According to Jetline Marvel, Rolls-Royce invested $94 million to build a specialized engine test bed. The site simulated various weather conditions while also having high levels of foreign particulate injections to provide developers with a detailed look at the performance of the engine under extreme conditions. Additionally, the aircraft gearbox market faces stringent regulation, requiring dual certification by the FAA and EASA. This necessitates extensive testing, rigorous documentation, and meticulous adherence to stringent conformance requirements. These high costs and complexities can limit market entry for new players, stifle innovation, and ultimately increase the overall cost of aircraft ownership and operation.

Key Market Players:

The top 10 companies in this industry are listed below: 1. Safran SA 2. Liebherr Aerospace 3. Rexnord Aerospace 4. Triumph Group 5. Aero Gear 6. GE Aviation 7. PBS Group, a. s 8. RTX 9. Israel Aerospace Industries 10. AAR Corp

By Gearbox Type, By Power Rating, By Material Type, By Aircraft Type, By Application and By Geography.

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 & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

1. Safran SA

2. Liebherr Aerospace

3. Rexnord Aerospace

4. Triumph Group

5. Aero Gear

6. GE Aviation

7. PBS Group, a. s

8. RTX

9. Israel Aerospace Industries

10. AAR Corp