According to Fortune Business Insights the lactic acid market size was valued at USD 7.14 billion in 2023 and is projected to grow from USD 8.37 billion in 2024 to USD 31.84 billion by 2032, exhibiting a CAGR of 18.0% during the forecast period.
According to our researchers, lactic acid or 2-Hydroxypropanoic acid is a natural biological acid with several applications in the food, pharmaceutical, chemical, cosmetic, and medical industries. It is formed by fermenting sugar acquired from renewable means, terming it as an eco-friendly creation. The product is generally utilized in polylactic acid (PLA) formation, a compostable thermoplastic and recyclable polymer created from renewable mediums.
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/lactic-acid-market-102119
Drivers and Restraints
Growing Cosmetic and Personal Care Industry to Drive Market Growth
Lactic acid is used as a humectant, exfoliator, pH adjuster, and skin prepping agent in various beautifying and personal maintenance products. It smoothens, revitalizes, and sets an even skin texture while appearing firmer. It aids in declining the look of acne spots, wrinkles, and fine lines on the skin. Additionally, the product is incorporated in hair products because of its capability to reinforce fragile hair. Moreover, the upsurge in user consciousness and augmented disposable income are anticipated to amplify the demand for cosmetics and individual maintenance products and further thrust the market development.
Moreover, the promptly increasing number of social media handlers, tailored ads, and celebrated social influencers recommending several cosmetic products through these mediums are expected to boost cosmetic and personal care products sales. Further, brands with online websites and e-commerce businesses such as Alibaba Express and Amazon have amplified online shopping, which, in turn, may bolster the demand for cosmetic and personal care products. This factor may boost the lactic acid market growth in the long term.
List of Key Players Covered in Lactic Acid Market Report are:
- BASF SE (Ludwigshafen, Germany)
- Corbion (The Netherlands)
- NatureWorks LLC (Minnesota, U.S.)
- CELLULAC (London, U.K.)
- Galactic (Escanaffles, Belgium)
- Sulzer Ltd (Winterthur, Switzerland)
- GODAVARI BIOREFINERIES LTD. (Mumbai, India)
- Cargill, Incorporated (Minnesota, U.S.)
- Kemin Industries, Inc. (Iowa, U.S.)
- Henan Jindan Lactic Acid Technology Co. Ltd (Hertogenbosch, The Netherlands)
Lactic Acid Market Segmentation Analysis:
Rising Adoption of Sugarcane in Food and Biochemical Industries to Propel Sugarcane Segment Growth
By raw materials, the market is divided into sugarcane, corn, yeast extract, and others. The sugarcane segment is expected to lead the market due to the rising adoption of sugarcane in the food and biochemical industries and increasing bioplastics development.
Rapid Food and Pharmaceutical Industries Expansion to Drive Liquid Segment Growth
Based on form, the market is bifurcated into liquid and dry. The liquid segment held the largest lactic acid market share. The segment’s growth is attributed to the rapid expansion of the pharmaceutical and food industries, boosting the adoption of the product’s liquid form.
Polylactic Acid’s Growth is Driven by its Increasing Demand in Different Industries
By application, the market is classified into polylactic acid, food & beverages, pharmaceutical, cosmetics & personal care, and others. The polylactic acid segment held the largest market share due to its growing demand in the food packaging, automotive, textile, and engineering plastic industries.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights
Rising Demand for Acid from Several Industries to Bolster Market Growth in North America
North America held the largest lactic acid market share and controlled the global market in 2020. Rising demand for acid from the food & beverage, pharmaceutical, and cosmetics industries. The pharmaceutical segment is expected to develop as an outcome of R&D and developments in drug transfer systems. These improvements are then estimated to fuel the market growth.
Europe is projected to display substantial development owing to increasing demand from the bioplastic industry. Escalating worries regarding the harmful impacts and ecological destruction of non-biodegradable plastics and ecological destruction is estimated to upsurge the demand for biodegradable plastics as a substitute.
The Asia Pacific region is predicted to observe a considerable growth rate due to intensifying demand from the food & beverages industry. The requirement for food and beverage goods is further estimated to inflate as people's purchasing power and living standards progress.
Competitive Landscape
Bulk Development Strategies Applied by Players to Maintain Market Position
Most of the crucial players are financing the acid's R&D activities to transform novel and reputable technologies. For example, in April 2019, Asahi Group, a Japanese brewery business, introduced the Asahi Quality and Innovations Co. (AQI) as it pursues to progress its proficiency in yeast and LAB and implement novel digital technologies. This R&D is expected to advance novel health food elements, generate fresh business, and decrease the general ecological impact.
Key Industry Development
- June 202: Praj Industries Ltd. and Lygos, Inc. signed a Memorandum of Understanding (MOU) to develop the registered yeast of Lygos for the creation of the acid jointly.
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/lactic-acid-market-102119
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
The Global Galvanized Steel Market has recently been analyzed and explored by Fortune Business Insights™ in their latest market research report. The team of dedicated analysts and researchers has gone to great lengths to provide a comprehensive overview of both current and future scenarios pertaining to the Galvanized Steel Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Galvanized Steel Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/109201
Forecast Growth Projected:
According to Fortune Business Insights the global galvanized steel market size was valued at USD 98.80 billion in 2023 and is projected to grow from USD 104.28 billion in 2024 to USD 166.09 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period.
List of the Key Players in the Galvanized Steel Market:
- ArcelorMittal S.A. (Luxembourg)
- Nippon Steel Corporation (Japan)
- ThyssenKrupp AG (Germany)
- Steel Dynamics Inc. (U.S.)
- POSCO HOLDINGS INC. (South Korea)
- JFE Steel Corporation (Japan)
- JSW Steel Limited (India)
- Tata Steel (India)
- NLMK Group (Russia)
- Jiangsu Shagang Group (China)
Competitors Landscape:
The realm of Galvanized Steel Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
Segmentation:
Sheet and Strip Segment Lead Owing to its Strength and Resistance
On the basis of type, the U.S. market for hot-dip galvanized steel is divided into structure, pipe and tube, sheet and strip, wire and hardware, and others. The sheet and strip segment holds the apex position in the market due to its strength and resistance, making it ideal for construction applications such as framing and support systems.
Construction Segment Led Owing to Extensive Use in Building Frames
On the basis of application, the market is classified into automotive, home appliance, general industrial, construction, and others. The construction segment captures the key U.S. hot-dip galvanized steel market share, with galvanized steel used extensively in building bridges, beams, columns, frames, and trusses, benefiting from its corrosion resistance and durability.
What are the New Additions in Galvanized Steel Market Report?
Comprehensive Market Analysis : The 2023 report provides a detailed industry overview, analyzing key market trends, growth drivers, challenges, and opportunities. It covers various sectors within the industry and offers insights into market size, market share, and market segmentation.
Company Profiles : The report includes additional in-depth information on key company players operating in the industry. It offers detailed profiles of these companies, highlighting their financial performance, product portfolios, strategic initiatives, partnerships, and competitive landscape analysis.
Customization and Analyst Support : The report offers customized services and analyst support upon request. This may include tailored research, specific data requirements, or personalized insights based on the client's needs and preferences.
Recent Market Developments : The report incorporates the latest market developments that have occurred since the previous edition. It includes recent mergers and acquisitions, product launches, collaborations, regulatory changes, and other significant events shaping the industry landscape.
Futuristic Growth Opportunities : The report identifies and presents future growth opportunities in the industry. It explores emerging technologies, market trends, consumer preferences, and regulatory factors that are expected to drive growth and innovation in the coming years.
Get Your Customization Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/109201
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
According to Fortune Business Insights the bio-based chemicals market size was USD 73.16 billion in 2023 and is projected to grow from USD 99.86 billion in 2024 to USD 207.95 billion in 2032 at a CAGR of 9.6% during the forecast period (2025-2032). The increasing consumption of bio-based solutions to ensure environmental sustainability will propel the market forward during the projected timeframe, states Fortune Business Insights in its report titled “ Bio-based Chemicals Market, 2025-2032."
Bio-based chemicals are derived from bio-based sources such as sugar, corn, biodegradable waste, cellulosic feedstock, or biomass. The demand for these chemicals is rising across several industries including food & beverage, pharmaceutical, automotive, textiles, and others. This rise in demand is due to depleting petroleum resources and growing unavailability of conventional fossil fuel based products. The growing need for sustainable solutions across industries will foster the market growth in the forthcoming years.
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bio-based-chemicals-market-106586
Market Segments:
Based on product category, the market is segmented into adhesives, platform chemicals, paints, coatings, inks & dyes, polymers for plastics, surfactants, adhesives, cosmetics & personal care products, man made fibers, and others.
In terms of application, the market is divided into agricultural, industrial, pharmaceutical, and others.
Geographically, the market broken down into North America, Asia Pacific, Europe, and the Rest of the World.
The Report Lists the Key Players Profiled in the Market Report:
- BASF SE (Germany)
- Vertec BioSolvents Inc. (U.S.)
- AGAE Technologies, LLC (U.S.)
- TOTAL (France)
- ADM (U.S.)
- DuPont (U.S.)
- Evonik Industries (Germany)
- Toray Industries, Inc. (Japan)
- Cargill, Incorporated (U.S.)
- GF Biochemicals Ltd. (Italy)
- Mitsubishi Chemical Corporation (Japan)
- DSM (Netherlands)
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints :
Depleting Fossil Fuel Resources to Provide Momentum to Market
Bio-based chemicals market growth is driven by the depletion of fossil fuel resources and rising greenhouse gas emissions. These factors have led to increased adoption of biomaterials. Ongoing initiatives to limit harmful emissions is supporting the adoption of bio-based products across industries. The growing concept of green chemistry will further boost this adoption rate. Supportive government initiatives to limit the usage of harmful chemicals will work in favor of the market growth.
However, the market development could be hampered by the high cost of the product.
Regional Insights :
Europe registered revenue gains worth USD 35.59 billion in 2020 and will dominate the bio-based chemicals market share over the assessment period. Leading position of the region can be contributed to the growing initiatives by the European Union to promote green and circular economy. Active steps to increase reliance on biomaterials will strengthen the regional outlook.
The market in Asia Pacific will witness robust growth led by the widespread shift towards bio-based solutions and tightening environmental regulations. Meanwhile, North America will experience substantial growth led by growing R&D in the field of biomaterials.
Notable Industry Development:
December 2020: DuPont Nutrition & Biosciences and Kemira formed a strategic alliance for the formulation and commercialziation of the enzymatic polymerization-based polysaccharide platform technology by DuPont for various applications.
Get Your Customization Research Report:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/bio-based-chemicals-market-106586
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email : sales@fortunebusinessinsights.com
According to Fortune Business Insights the global FMCG packaging market size was valued at USD 683.72 billion in 2024. The market is projected to grow from USD 719.90 billion in 2025 to USD 1,057.13 billion by 2032, exhibiting a CAGR of 5.64% during the forecast period. The growing penetration of mobile devices and rising preference for online retail channels are among the major factors driving the industry expansion. The demand for food delivery is rising owing to the changing lifestyle and growing urbanization, which is another factor impelling industry growth.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The FMCG Packaging Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/108076
List of the Key Players in the FMCG Packaging Market:
- Amcor (Switzerland)
- Berry Global Inc. (U.S.)
- WestRock Company (U.S.)
- Sealed Air Corporation (U.S.)
- Sonoco Products Company (U.S.)
- Ball Corporation (U.S.)
- Mondi Plc (U.K.)
- Huhtamaki Oyj (Finland)
- Ardagh Group S.A. (Luxembourg)
- DS Smith (U.K.)
- Nampak Ltd. (South Africa)
Competitors Landscape:
The realm of FMCG Packaging Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
FMCG Packaging Market Segmentation Analysis:
Plastic Segment Holds Prominent Share Due to Rising HDPE Demand in Bottle and Jar Manufacturing
By material, the market is subdivided into paper & paperboard, plastic, metal, and glass. The plastic segment accounts for the largest share in the market. The segment growth is driven by the soaring demand for HDPE (high-density polyethylene) and PET (polyethylene terephthalate) in the manufacturing of bottles and jars.
Rigid Packaging Segment Leads the Market Driven by Benefit of Extended Shelf Life
Based on product type, the market for FMCG packaging is fragmented into flexible packaging and rigid packaging. The rigid packaging segment registers a major share in the market. This is due to the benefit of extended shelf life offered by these products.
Pharmaceuticals Segment Holds the Largest Share Owing to Rising Product Demand
By application, the market is categorized into food, beverages, personal care & cosmetics, consumer goods, pharmaceuticals, and others. The pharmaceuticals segment records a leading share in the market. The segmental expansion is propelled by a rise in the number of asthmatic and allergic patients and an increasing packaging demand.
Based on geography, the market for FMCG packaging has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints:
Rising Emphasis on the Development of Eco-friendly Solutions to Boost Industry Growth
Recent years have recorded an increase in technological advancements focused on the development of eco-friendly packaging solutions. The product demand is surging owing to changing consumer lifestyles across various regions. These factors are touted to propel the FMCG packaging market growth over the analysis period.
However, the product adoption could be hampered on account of strict government regulations focused on environmental safety.
Get Your Customization Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/108076
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
According to Fortune Business Insights the global spherical alumina market size was valued at USD 462.4 million in 2023. The market is projected to grow from USD 499.3 million in 2024 to USD 965.8 million by 2032, recording a CAGR of 8.6% during the forecast period of 2024-2032. Spherical alumina refers to particles shaped in a spherical form. Its physical shape plays a key role in improving its properties, such as packing density, flowability, and surface area as compared to other alumina particles that are irregularly shaped. The increasing use of this product in several applications, such as in abrasive & polishing applications, as a support material in catalysis, and as a filler in ceramics & polymers will accelerate the market’s growth.
Fortune Business Insights™ displays this information in a report titled, "Spherical Alumina Market, 2024-2032."
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/spherical-alumina-market-110703
Spherical ALumina Market Segmentation Analysis:
Unique Set of Lucrative Properties Helped 1-30µm Segment Dominate Market
Based on type, the market is classified into 1-30µm, 30-80µm, 80-100µm, and others. The 1-30 µm segment dominated the market in 2023 as the particles of spherical alumina in this particle size have several attractive properties, such as high thermal conductivity and small and uniform size. These features make the product ideal for several industrial applications.
High Thermal Conductivity Increased Product Use in Thermal Interface Materials
In terms of application, the market is segmented into thermal interface materials, thermally conductive plastics, high thermal conductive AI base CCL, alumina ceramic substrate surface spraying, and others. The Thermal Interface Materials (TIMs) segment dominated the global spherical alumina market share in 2023 as this form of alumina is being extensively used due to its excellent thermal conductivity.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- Denka Company Limited (Japan)
- Hebei Suoyi New Material Technology Co., Ltd. (China)
- Nippon Steel Corporation (Japan)
- GNPGraystar Specialty Materials (U.S.)
- Resonac Holdings Corporation (Japan)
- Suzhou Ginet New Material Technology Co., Ltd. (China)
- Aluminum Corporation of China Limited (China)
- Hindalco Industries Ltd. (India)
- Jiangsu NOVORAY New Material Co., Ltd (China)
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, types, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Rising Sales of Electric Vehicles to Drive Market Growth
The sales of Electric Vehicles (EVs) are increasing every year as customers are taking various measures to decrease their carbon footprint. This scenario has also boosted the use of spherical alumina as it can enhance the performance of EV batteries and make them more efficient. Moreover, this type of alumina has excellent heat dissipation properties, which will play a key role in preventing EV batteries from getting overheated. These factors are expected to positively impact the spherical alumina market growth.
However, high costs of production associated with this type of alumina can impede the market’s progress.
Regional Insights:
North America Dominated Market Due to Rising Awareness of Several Key Features of Spherical Alumina
North America held a dominant market position in 2023 due to the increasing awareness of the benefits of using spherical alumina. This factor resulted in a notable increase in the use of this product in industries, such as electronics and aerospace.
Asia Pacific is also showing notable growth in the global market owing to the increasing production of consumer electronics, wherein spherical alumina is extensively used to dissipate excess heat from batteries. This helps improve the battery’s performance and prolongs the lifespan of these electronic gadgets.
Competitive Landscape:
Key Market Players to Focus On Business Growth to Remain Competitive
The market has a strong competitive landscape with the presence of many emerging and well-established organizations. These market players have strong global distribution networks and are focusing on expanding their business presence through various growth strategies, such as partnerships and collaborations.
Notable Industry Development:
July 2024: Resonac Corporation became a part of a new group consisting of ten partners, named "US-JOINT". The new group with carry out research and development programs for the company's semiconductor back-end process in Silicon Valley. The operations of the Japan-based open consortiums, which are led by Resonac (known as "JOINT" and "JOINT2"), are being extended in the U.S. with the help of US-JOINT. This also includes the participation of five American companies. The research & development programs for US-JOINT will be conducted at a newly built R&D center in Union City, California, through co-investment with partners.
Get Your Customization Research Report:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/spherical-alumina-market-110703
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone
US: +18339092966
UK: +448085020280
APAC: +91 744 740 1245
Email : sales@fortunebusinessinsights.com
According to Fortune Business Insights the global inorganic salts market size was USD 213.52 billion in 2023 and is projected to grow from USD 229.25 billion in 2024 to USD 396.18 billion by 2032 at a CAGR of 7.2% during the forecast period. Additionally, the rising demand for nitrogen-rich salts, such as ammonium salts, to make fertilizers is expected to boost the market growth. The increasing crop yield demand due to expanding population and its growing food demand is expected to augment the demand for fertilizers and foster market growth in the coming years.
Get a Sample Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/inorganic-salts-market-106588
Segments
Application and Region are Studied
On the basis of application, the market is categorized into agriculture, pharmaceutical & personal care, food industry, chemicals, and others. Geographically, the market is classified into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
List of Key Market Players-
- Redmond Clay & Salt Company (Utah, U.S.)
- United Salt Corporation (Texas, U.S.)
- Eastman Chemical Company (Tennessee, U.S.)
- Arkema (Colombes, France)
- Solvay (Brussels, Belgium)
- Tata Chemicals (Mumbai, India)
- GFS Chemicals (Ohio, U.S.)
- Otsuka Chemical (Gurugram, India)
- Behn Meyer (Hamburg, Germany)
Drivers & Restraints-
Rising Demand by Pharmaceutical Sector to Fuel Market Growth
Inorganic salts are widely used by the pharmaceutical sector. These salts are vital for our body's functioning and metabolism. For instance, these salts in plasma help in maintaining the balance of potassium and sodium in cells. The increasing demand for health drinks with inorganic salts is anticipated to boost the inorganic salts market growth. Moreover, the growing instances of autoimmune and oncological diseases are escalating the demand for medicines and drugs, which is expected to uptick market growth in the coming years.
The rising adoption of inorganic metals salts, including magnesium sulfate, potassium sulfate, and others instead of sodium chloride is an emerging trend, which is anticipated to positively influence the market growth.
However, the toxicity of certain inorganic salts, such as lead salts, mercury, and others, may hinder market growth.
Regional Insights-
Presence of Large Chemical Manufacturing Base to Fuel Growth in Asia Pacific
Asia Pacific is anticipated to attain remarkable growth in the global inorganic salts market share. The extensive production and export of pharmaceuticals from China, India, and other countries due to a large chemical manufacturing base present in the region are predicted to boost the region’s market growth.
Europe is predicted to experience substantial growth in the forthcoming years. The increasing demand for pharmaceutical drugs from the healthcare industry propels the region’s market growth. Moreover, the government’s growing agricultural initiatives and developments to maximize crop yield are expected to complement the region’s market growth.
North America is projected to exhibit considerable growth in the global market. The rising adoption of the product that contains nitrates, primarily for ammunition and explosives manufacturing, is expected to boost the region’s market growth. Moreover, the increasing utilization of fertilizers to amplify crop yield is predicted to fuel the region’s market growth.
The Middle East & Africa and Latin America are estimated to exhibit significant growth due to rising industrialization and improving socio-economic conditions.
Competitive Landscape-
Key Players Emphasize Strategic Alliances to Augment Sales
The market is fragmented in nature and comprises a large number of international players, including Solvay, Arkema, Thermo Fisher Scientific, Eastman Chemical Company, and others as the top market players. The major market players engage in strategic alliances to augment sales and brand. For instance, United Salt Corporation revitalized its brand identity and image in April 2021 to better serve United Salt customers.
Industry Development-
- September 2021: Solvay continued to deliver soda ash in the market despite supply chain disruptions caused by the COVID-19 pandemic.
Inquire Before Buying Report :
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/inorganic-salts-market-106588
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
According to Fortune Business Insights the global physical vapor deposition market size was USD 27.10 billion in 2023 and is projected to grow from USD 29.41 billion in 2024 to USD 57.04 billion in 2032 at a CAGR of 8.6% during the forecast period 2024-2032. The report further mentions that the market stood at USD 22.43 billion in 2020. Factors such as the increasing demand for eco-friendly coating processes and the growing demand for medical equipment amid the COVID-19 crisis are expected to propel the product’s demand in the forthcoming years.
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/physical-vapour-deposition-pvd-market-102364
List of the Companies Profiled in the Market:
- Advanced Energy Industries, Inc. (USA)
- Intevac (USA)
- Oerlikon Balzers (Switzerland)
- Impact Coatings AB (Sweden)
- AJA International, Inc. (USA)
- Dynavac (USA)
- Denton Vacuum (USA)
- Angstrom Engineering, Inc. (Canada)
- CHA Industries, Inc. (USA)
- IHI HAUZER Techno Coating B V (The Netherlands)
- The Kurt J Lesker Company (USA)
- Other Key Players
Market Segmentation
On the basis of category, the market is divided into PVD equipment, PVD material, and PVD services.
- Based on category, the PVD equipment segment held a global physical vapor deposition market share of about 59.5% in 2020 and is expected to showcase exponential growth during the forecast period. This is due to the increasing PVD adoption in several industrial applications such as medical, solar products, and data storage worldwide.
On the basis of application, the market is segmented into data storage, microelectronics, solar products, cutting tools, medical equipment, and others. Finally, based on region, the market is classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
DRIVING FACTORS
Increasing Demand for Eco-friendly Coating Processes to Promote Growth
According to Eurostat, the industrial sector accounts for more than half of the total emissions in Europe. The rising concern over greenhouse emissions has propelled the demand for environmentally safe products. For instance, the physical vapor deposition process adopts eco-friendly products such as titanium nitride (TiN) and chromium nitride (CrN). These materials are coated on corrosion-resistant electroplating and further enhance the finish of the surface. In addition, they offer superior performance without the risk of environmental hazards. Therefore, owing to this, the high demand for eco-friendly coating processes across several industrial applications is expected to favor the growth of the market during the forecast period.
REGIONAL INSIGHTS
Asia-Pacific – The region stood at USD 10.25 billion in 2020 and is expected to hold the highest position in the market during the forecast period. This is owing to the increasing consumption of medical equipment and solar products in countries such as China. Besides, the presence of eminent physical vapor deposition solution providers will favor regional growth during the forecast period.
North America – The region is expected to experience significant growth owing to the well-established supply chain network and distributorship in the region. Moreover, the increasing adoption of the physical vapor deposition process in the manufacturing of solar panels and cutting tools will boost the growth of the market between 2021 and 2028.
COMPETITIVE LANDSCAPE
Major Companies Focus on Investment in R&D Activities to Brighten Their Market Prospects
The market comprises small, medium, and large companies that are striving to maintain a stronghold. The companies are investing in R&D activities to develop advanced physical vapor deposition solutions to cater to the growing demand from several industrial applications. Moreover, other key players are adopting organic and inorganic growth strategies that are likely to bode well for market growth.
Industry Development:
- January 2020 - Oerlikon announced the acquisition of D-Coat GmbH, a leading Erkelenz, Germany-based diamond coating technology provider. This is expected to expand the company’s surface treatment technology portfolio and further gain a competitive edge over its rivals.
Speak to Our Expert:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/physical-vapour-deposition-pvd-market-102364
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
According to Fortune Business Insights the global xenon market size was valued at USD 253.14 million in 2023 and is projected to grow from USD 258.74 million in 2024 to USD 304.74 million by 2032, exhibiting a CAGR of 2.1% during the forecast period. Xenon (Xe) is the most commonly utilized propellant, because it has high atomic mass and is easily ionized, thus delivering the necessary amount of thrust when ions are accelerated. Moreover, the gas is inert and has high storage density and therefore, it is ideal for storing in a spacecraft. Its favorable properties for space missions have encouraged space agencies to develop technologies that can efficiently leverage the powers of xenon. For example, the National Aeronautics and Space Administration (NASA) has been developing the NASA Evolutionary Xenon Thruster (NEXT), which is a high-power ion propulsion system engineered to reduce mission trip time and cost.
Get a Free Sample PDF: https://www.fortunebusinessinsights.com/enquiry/sample/xenon-market-101965
Market Segmentation
The market is categorized on the basis of type, application, and geography. In terms of type, it is divided into N3, N4.5, and N5. Based on the application, it is fragmented into imaging and lighting, satellite, electronics & semiconductors, medical, and others. On the basis of region, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
List of Key Companies Covered in this Market Report:
- Air Liquide (France)
- Linde PLC (Ireland)
- Air Products & Chemicals, Inc. (USA)
- Messer Group GmbH (Germany)
- Proton Gases (India) Pvt. Ltd. (India)
- Matheson Tri-Gas, Inc. (USA)
- American Gas Products (AGP LLC) (USA)
- Coregas Pty Ltd. (USA)
- Akela-p Medical Gases P. Ltd. (Russia)
- Electronic Fluorocarbons, LLC (USA)
- Iceblick Ltd. (Ukraine)
Market Restraint
Potential Health Risks of Xenon May Inhibit Adoption in the Medical Industry
A prominent constraint facing the xenon market growth is the health risks associated with the inhalation of the gas. Xe has been classified as a simple asphyxiant and intake of the gas in high concentrations can lead to nausea, vomiting, dizziness, and even death. If oxygen levels are low, unconsciousness or death can occur in a matter of minutes without warning. The immediate symptoms indicating the excessive inhalation of a simple asphyxiant include rapid respirations and want of air. Low oxygen supply to the brain then leads to diminishing of mental alertness and impairment of muscular coordination. Senses are suppressed and as the effects intensify, the person loses consciousness, slips into coma, and eventually, death. The health hazards linked to xenon are, therefore, impeding the adoption of the gas in the healthcare industry. However, despite its drawbacks, Xe is widely used in small proportions for its natural anesthetic properties in the healthcare facilities to effectively perform surgical procedures.
Regional Insights
Flourishing Consumer Electronics Industry to Help Asia Pacific Gain Prominence
Asia Pacific is estimated to dominate the market backed by the flourishing consumer electronics industry in the region. The high volume production of semiconductors in China and India is predicted to expand the xenon market share in the region. In addition, various upcoming satellite programs by space agencies from China, Japan, India, and other nations are estimated to further strengthen regional growth. For instance, the Indian Space Research Organization (ISRO) launched its GSAT 20 communication satellite in 2020. The region earned revenue of USD 73.38 Million in 2020.
The market in Europe is projected to exhibit considerable growth during the forthcoming years. One of the leading factors driving the market growth in the region is the ongoing research study on dark matter, which is being conducted in Italy. The gas is utilized in catching the passing weakly interacting massive particles (WIMPs) during the experiment. Hence the market will witness significant demand in the region.
Competitive Landscape
Finding New Applications to Help Key Players Expand their Businesses
The market is primarily driven by high applications of this gas in two main industries: space and electronics. Industry leaders in these fields are supporting the market growth by coming up with new opportunities. For instance, in October 2018, Samsung Electronics Co., Ltd. launched 7LPP, a 7-nanometer node that is integrated with EUV lithography technology. The company has leveraged the properties of xenon for the production of the new chip.
Industry Developments:
July 2018: Air Liquide, an industrial gas supplier based in France, announced to sign multiple agreements worth USD 59 million with various satellite and semiconductor manufacturers from the U.S., Europe, and Asia.
Speak to Our Experts:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/xenon-market-101965
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
