Oral medications to drive compounding pharmacies market growth over 2017-2024, U.S. to be the prominent revenue contributor
In an era of consequential transformation in the healthcare delivery, compounding pharmacies market is charting a profitable growth curve. Although a major chunk of pharmacists are involved in drug manufacturing, yet with the advancement of technology compounding has become an integral of pharmacy practice. The expanding geriatric population base along with increasing customized medication requirements subject to alternative doses, flavor, formulations are stimulating the market dynamics. In addition to this, the recent trend toward personalized diagnostic approach is expected to complement the business landscape in the years ahead. With the increasing drug shortage issues and drug failure rates in recent times, compounding pharmacies are anticipated to be the best alternative to address the growing drug demand. As per a report by Global Market Insights, Inc., “Compounding Pharmacies Market will hold a valuation of more than USD 12 billion by 2024, with an estimated CAGR of 5% over 2017-2024.”
U.S. Compounding Pharmacies Market size, By Product, 2013-2024 (USD Billion)
The remarkable expansion of compounding pharmacies market is quite evident from its diversified product landscape which includes oral, rectal, inhaler, ophthalmic, topical, and parenteral. Oral medications procured the largest portion of the market share in 2015, and the trend is likely to continue in the years ahead. Growing individual preference toward consuming medicines in the form of tablets, capsules have significantly propelled the market demand from this domain. Other than oral route, parenteral medications will also witness lucrative growth over 2017-2024, subject to the benefits associated with its compounding preparations. These intramuscular injections result in quick action to the body due to its localized drug application method.
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The prevalence of cardiovascular diseases has significantly risen among the adult population, which is likely to drive compounding pharmacies market. Sedentary lifestyles along with heavy consumption of fat-rich foods have led to a rise of these cardiac diseases, which in a way is stimulating the necessity of compounded medications. As per estimates, this sector accounted for the maximum industry share in 2016, and considering these aforementioned grounds, the trend is likely to continue in the years ahead. Pertaining to the increasing natality rates along with incapability of the commercial medicines to meet up with the customized pediatric formulation requirements, pediatric application will also register considerable revenue for compounding pharmacies market by 2024.
Speaking of technology, Japan compounding pharmacies market is highly influenced by the incorporation of hi-tech compounding processes. Adoption of automation in pharmacy compounding, presence of elderly population, and implementation of high-tech compounding devices in pharmaceutical sector can be together given the credit for the expansion of the regional market. U.S. being one of the most progressive nations w.r.t healthcare infrastructure accounted for the largest compounding pharmacies industry share in 2016. Subject to the increasing drug deficiency in the country coupled with spreading consumer awareness about compounding medications, U.S. market is anticipated to witness a strong position in the global industry by 2024.
Compounding pharmacies market is characterized by some of the restraints such as lack of skilled lab personnel, excessive cost of the process, and issues related to its safety standards. To combat these threats, key market players are undertaking various collaborations to sustain their business position in the global industry. Some of the companies engaged in compounding pharmacies market include B. Braun Medical, PharMEDium, Fresenius Kabi, Village Compounding Pharmacy, and Cantrell Drug Company.
Author Name : Satarupa De
Concrete Floor Coatings Market to witness robust growth with the expanding construction industry, Asia Pacific to be major regional driver
The flourishing construction business across Asia Pacific has been a crucial factor driving the regional concrete floor coatings industry share. The emerging economies of the region, including India and China are experiencing robust growth potential in infrastructural development and manufacturing facilities, which has heightened the product demand in the region. Moreover, rising population and changing consumer lifestyle have also positively led to the massive development of the regional market. Asia Pacific concrete floor coatings industry is anticipated to attain a CAGR of 8% over the period of 2016-2024. China, in 2015, accounted for more than half of the total construction industry revenue generated by BRICS nations, and is expected to observe the highest growth in concrete flooring market over the coming years.
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Post 2008 economic turmoil, North America has experienced a surge in the construction sector and has a strong pipeline of numerous construction projects. Strong growth in the pharmaceutical, automotive, and food & beverage industry has stimulated the product demand for flooring applications across the region. A significant rise has been observed in remodeling and renovation projects across the residential sector, which has driven the concrete floor coatings market size. Accounting for more than 30% of the overall industry share, North America led the worldwide concrete floor coatings industry share in 2015.
Concrete floor coatings also find significant applications in indoor and outdoor sectors. Concrete floor coatings market revenue from outdoor applications is anticipated to grow at a CAGR of over 6.5% during the duration from 2016 to 2024. High government funding for infrastructural growth has impelled the product usage in outdoor applications such as driveways, pathways, garages, and walkways. Indoor applications, which dominated the application landscape in 2015, are expected to contribute notably towards concrete floor coatings market share over the years ahead. The growth can be attributed to the high product preference across residential and commercial constructions. The growing need for improving sports infrastructure will further drive the product demand.
Polyurethane, epoxy, and polyaspartics are the major concrete floor coatings products. Thriving polyurethane sector, which is projected to surpass a revenue of USD 75 billion by 2023, will boost concrete floor coatings industry trends. Development of bio-based polyurethanes for various coating applications will further push the industry revenue.
Epoxy concrete floor coatings market value, which was estimated at over USD 400 million 2015, is expected to grow remarkably over the years ahead. Prominent product applications in the railways, hospitals, airways, schools & colleges, pharmaceuticals, and electrical & electronic sectors are expected to favorably influence its demand. Flourishing epoxy surface coatings sector will further boost the industry revenue.
Polyaspartics concrete floor coatings industry is forecast to register a CAGR of over 7% over 2016 to 2024, driven by the mounting product use in outdoor applications as a result of its exceptional UV radiation resisting characteristics.
Henkel AG & Company KGaA, BASF SE, Sika AG, RPM International Incorporation, Epmar Corporation, PPG Industries Incorporation, Koninklijke DSM N.V., Rodda Paint Company, Vanguard Concrete Coating Incorporation, Nippon Paint Holdings Company Limited, and The Sherwin-Williams Company are the major participants of concrete floor coatings industry.
Author Name : Ojaswita Kutepatil
Structural Adhesives Market to witness massive gains from automotive applications. Polyurethane products to drive the industry growth
Owing to numerous product properties that help enhance the performance and safety of vehicles, Structural Adhesives Market has been gaining renewed popularity of late. This product is used primarily to reduce the overall weight of automobiles. In addition, a perpetual change in the living standards coupled with a rise in the per capita income has led to an increase in the automobile production and sales, which will fuel structural adhesives market. The capability of the product to minimize the overall weight of the system leads to the increasing use of the such adhesives for aeronautical applications as well. According to Global Market Insights, Inc., “Worldwide structural adhesives market will surpass a revenue collection of USD 7 billion by 2024 with an annual growth rate of more than 4% over 2016-2024.”
U.S. Structural Adhesive Market Share, By Application, 2013 – 2024 (USD Million)
Polyurethane is extensively used in the aviation and automotive sector, on account of its strong bonding strength. Polyurethane dominated the overall structural adhesives market by accounting for 50% of the share in 2015 and will collect considerable revenue by the end of 2024. This product exhibits a sizable demand pertaining to its cost effectiveness and flexibility. The growing polyurethanes (PU) market will also contribute toward the development of structural adhesives industry. Aviation and aerospace end user segment of structural adhesives market will register an annual growth rate of above 4% over the coming seven years. this product is prominently used due to its notable mechanical characteristics such as superior compressive strength, high glass transition temperature, excellent durability & toughness and cyclic fatigue resistance capability.
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Structural adhesives are widely used as bonding agents to avoid the usage of rivets, welds, and screws in bonding plastic materials. In addition, this product is used to improve the mechanical and aesthetic properties of plastics as well. On these grounds, structural adhesives market from plastic applications collected a revenue of USD 1 billion in 2015 and will generate significant revenue by 2024 with a CAGR of 4.5% over the coming timeframe.
North America structural adhesives market will generate significant revenue by the end of 2024, owing to the surging infrastructure development along with growing advancements in the aviation industry. U.S. and Canada will be the prominent revenue contributors toward North America market share.
Pertaining to the widespread availability of vehicles along with the rising spending capability of consumers, the sale of automobiles across the globe will observe a massive incline. On these grounds, the automotive segment of structural adhesives industry, having had a revenue of USD 1 billion in 2015, will record a notable growth rate over the years ahead.
Asia Pacific structural adhesives industry collected a revenue of USD 2 billion in 2015 and will register considerable annual growth rate over the period of 2016 to 2024. The regional governments have been investing heavily in construction activities across this geography. Moreover, many of the automotive industry giants are establishing their manufacturing plants in various developing countries of APAC. Japan, India, South Korea, and China will contribute substantially toward the regional growth.
Industry players are engaged in strategic alliances to strengthen their presence in the diversified business space. The noteworthy players in structural adhesives market are Illinois Tool Works, Arkema, 3M Company, Scott Bader Co., Lord Corporation, Dow Chemical Company, L&L Products, Henkel AG, SIKA AG, Master Bond, Parson Adhesives, Permabond, Ashland Inc., Hubei Huitian Adhesive Enterprise Co., Ltd., Elantas, and Panacol-Elosol GmbH.
Author Name : Sunil Hebbalkar
APAC Carboxylic Acid Market to register massive gains over 2016-2024, escalating demand for acetic acid products to boost the industry growth
Increasing awareness regarding personal care and health will lead to an increased demand for beauty products. Carboxylic Acid Market is expected to gain lucrative revenue over the next few years, pertaining to the aforementioned factor. In addition, the increased spending on personal care products due to surging per capita income will also provide a positive impetus to the overall business trends. Butyric, stearic, and valeric are the prominent products used to manufacture personal care products for skin and hair care. Of late, there has been a considerable change observed in the living standards. This has subsequently led to a rising adoption of packaged food, which will stimulate carboxylic acid industry size pertaining to growing demand of the product for packaging purposes. As per the report by Global Market Insights, Inc., “Worldwide carboxylic acid market was valued USD 13 billion in 2015 and will surpass a revenue collection of USD 20 billion by 2024 with an annual growth rate of 5% over 2016 to 2024.”
U.S. Carboxylic Acid Market size, by end-user, 2015 & 2024 (USD million)
Asia Pacific carboxylic acid market accounted for more than 45% of the global share in 2015 and will collect notable revenue with an annual growth rate of more than 5% over 2016-2024. The product is extensively used in the food & beverage and consumer goods sectors. Japan, China, and India are expected to contribute significantly toward the regional growth.
The consumer goods sector covered more than 35% of the overall carboxylic acid market share in 2015 and will exhibit a CAGR of more than 5% over the coming seven years. The growth can be attributed to the increasing requirement of the product for agriculture, construction, electronics, and packaging applications, where plastic materials are prominently used.
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Stearic and acetic acids find huge applications in the abovementioned sectors as well. Stearic acid, especially, is abundantly used for the manufacturing of various consumer goods such as detergents, cosmetics, and soaps. On these grounds, stearic carboxylic acid market, having had a revenue of USD 3.5 billion in 2015, is slated to witness considerable growth rate over the years ahead.
The requirement of animal feed has been increasing exponentially across the globe, owing to the escalating demand for animal products such as leather, meat, wool, and milk etc. Carboxylic acid based products help to avoid the infection of salmonella in poultry farms, which will influence carboxylic acid industry share over the coming years.
Acetic acid collected a revenue of USD 5.5 billion in 2015 and will dominate the overall carboxylic acid market, by exhibiting an annual growth rate of more than 5.5% over the coming timeframe. Acetic acid is a main ingredient in the production of food preservatives such as vinegar, which will further propel the growth of this segment.
North America carboxylic acid market generated a revenue of USD 2 billion in 2015 and will register substantial annual growth rate over 2016 to 2024. Deployment of strict rules and regulations by REACH about the usage of carboxylic acid will lower the manufacturing of the product across this region.
The key participants in carboxylic acid market are Celanese Corporation, BASF SE, Jiangsu Sopo (Group) Co., Ltd, Dow Chemical Company, LyondellBasell Industries, Alfa Aesar, Eastman Chemical Company, Perstorp Holding, and OXEA.
Author Name : Sunil Hebbalkar
Bulk Container Packaging Market to witness significant growth via chemical sector, APAC to prominently drive the regional landscape
The escalating commercialization of Bulk Container Packaging Market is influenced by a wide range of factors, increasing exports of comestible oil from South East Asia being a major one. As the transportation industry is continuously seeking for cost effective and efficient commodity trade, bulk container packaging is becoming the most preferred choice across utility domains. Indonesia and Malaysia are two main countries where the trend is notably increasing day by day. For instance, in 2007, Indonesia exported palm oil estimated almost around 14 million tons, which in 2013, rose to near about 20 million tons. Another factor which is favoring increasing penetration of the market is technological interventions in terms of packing innovation. As per a report by Global Market Insights, Inc., “bulk container packaging market is poised to chart a double-digit growth rate of 10% CAGR over 2016-2024, with a target revenue of more than USD 6 billion by 2024.”
U.S. Bulk Container Packaging Market size, by application, 2013 – 2024 (USD Million)
Global economy has always been one single common ground influencing the overall packaging market trends. The various products encompassing the bulk container packaging market including flexitanks, bulk container liners, and FIBC are mostly manufactured from petrochemical derivatives, which leads to the industry witnessing a relevant cost structure. Flexitanks have emerged as one of the prominent products that are widely being adopted for the export of wines, fruit juices, and edible oils. Some of the value-added characteristics of the product that allows its massive consumption include low weight, cost effectiveness, high payloads, eco-friendliness, and low contamination risks. With the growing regulatory norms subject to the environmental concerns, flexitanks bulk container packaging market is expected to witness the highest growth in the years ahead.
Flexible intermediate bulk container (FIBC) is another major product segment substantially contributing to the overall bulk container packaging industry share. These products are widely incorporated in industrial applications such as transporting building materials, detergents, polymers, non-hazardous chemicals etc. Holding the maximum bulk container packaging industry share in 2015, FIBC market is likely to witness substantial growth in the coming years.
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Food and beverage sector contributed a major chunk toward bulk container packaging market share, covering almost 30% of the overall application landscape in 2015. The demand for food has witnessed a massive increase from the ever-increasing population base which has already crossed the seven billion mark. In addition, increasing consumer spending over beverages such as tea, coffee, wine, juice, have also considerably fueled the application growth
Bulk container packaging industry size from chemical applications will also chalk a profitable growth curve in the years ahead at a projected CAGR of 10% over 2016-2024. Easy availability of raw materials, supportive government policies, and increasing investments by the chemical manufacturers are some of the factors that have significantly augmented chemical trade across APAC belt. This, in turn, is expected to provide a significant push to bulk container packaging market growth over the coming seven years. Overall, with China at the growth front, Asia Pacific market will witness maximum gains with an annual growth rate of 11% over 2016-2024.
North America bulk container packaging market will also witness commendable gains over the coming years, driven by the growing demand for export of agricultural products including oilseeds, corn, grain, and soya bean. Estimates depict that North America dominated the overall bulk container packaging industry share in 2015, with major contributions from the U.S.
Worldwide, bulk container packaging market is undergoing a transformation, with the spreading consumer awareness about the importance of sustainable and biodegradable packaging. The industry is highly consolidated with the major players sharing almost 50% of the global business space. Some of the prominent bulk container packaging industry participants include Braid Logistics, SIA Flexitanks, BLT Flexitank Industrial, and MY Flexitank (MYF).
Author Name : Satarupa De
U.S. baghouse filters market for woodworking industry to produce massive income via lumber applications over 2016-2024, Texas to majorly push the regional demand
Strict norms enforced by NFPA and OSHA regarding the health of the workers in hazardous worksites will spur U.S. Baghouse Filters Market expansion for woodworking sectors. U.S wood products industry, worth USD 70 billion in 2015, is expected to massively influence the business trends. In addition, this product is witnessing an escalated demand from the construction sector, which is expected to generate profitable avenues for the business in the near future. According to Global Market Insights, Inc.,” U.S. baghouse filters industry size for woodworking segment is anticipated to cross a revenue of USD 85 million by 2024, registering a CAGR of more than 4% over 2016-2024.”
U.S. Baghouse Filters Market Share for Woodworking Industry, By Product, 2016
Taking into consideration the regional trends, Utah baghouse filters industry size for the woodworking sector across the furniture & fixture applications will grow at a CAGR of more than 4% over the coming seven years. Rise in infrastructural funding coupled with the escalating popularity of smart & cost-effective furniture in residential and commercial complexes in the region will augment the U.S. baghouse filters market expansion for woodworking industry.
U.S. baghouse filters market revenue in California from the architectural woodworking sector is expected to grow notably over the coming years. It is expected to make remarkable contributions toward the overall U.S. baghouse filters industry size for woodworking sector, on account of the rising customer expenditure on renovation activities and interior design.
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U.S. baghouse filters market share for woodworking segment in Florida is expected to record gains of more than 3.5% over the coming timeline, subject to the elevated presence of lumber producing firms across the region. Texas is also set to contribute more than USD 3.5 million toward U.S. baghouse filters market size for woodworking industry by 2024. Growing customer preference for fashionable furniture is projected to push the regional growth.
Pennsylvania industry is expected to make major contributions toward U.S. baghouse filters market share for woodworking industry. Rising awareness regarding the harmful effects of copious amount of dust released during woodworking processes along with modernizations in techniques of wood sawing, milling, and cutting will push the regional growth.
Baghouse filters find varied applications in flooring, veneer, cabinetry, architectural woodworking, lumber, industrial woodworking, windows & doors, composite panels, and furniture & fixtures. U.S. baghouse filters industry revenue for the woodworking sector in lumber applications is expected to surpass USD 20 million by 2024, owing to the large presence of saw mills coupled with easy transport access and efficient distribution channels.
Cabinetry applications are expected to grow at a CAGR of more than 4% over 2016-2024 and are expected to contribute significantly towards U.S. baghouse filters industry size for woodworking sector over the coming years. Extensive product use in construction and repairing activities will accelerate the growth. U.S. baghouse filters market for woodworking industry in veneer applications is anticipated to grow at a CAGR of more than 3.5% over the coming seven years.
Shaker, pulse jet, and reverse air are the major baghouse filter products. Reverse air baghouse filters are expected to generate more than USD 45 million revenue for U.S. baghouse filters market by 2024. The growth can be ascribed to the product’s ability to effectively carry out operations under intensive heat.
Pulse jet baghouse filters will contribute a revenue of more than USD 25 million toward U.S. baghouse filters market for woodworking industry by 2024. Wide product application across furniture manufacturing and veneer sectors are expected to boost the growth. Design and operational excellence of shaker baghouse filters are expected to contribute toward the overall market share.
Market players will try to enhance their ROI through product differentiation, new product development, and technological innovations. Clarcor Industries, Amerair Industries Incorporation, Griffin Filters, Aircon Corporation, Donaldson Company Incorporation, Airex Industries Incorporation, FLSmidth Incorporation, Nederman MikroPul GmbH, Imperial systems Incorporation, SLY Incorporation, U.S. Air Filtration Incorporation, Staclean Diffuser Company, Camcorp Incorporation, Mac Process, and Scientific Dust Collectors are the key participants of U.S. baghouse filters industry.
Author Name : Dhananjay Punekar
APAC Ferroalloy Market to attain an impressive growth rate over 2016-2024, automotive applications to drive the regional demand
China Ferroalloy Market size, by application, 2013 – 2024 (USD Billion)
Ferroalloys are heavily used in the production of steel. Global steel market was worth more than 1.5 billion tons in 2015, in terms of volume, and is expected to register a growth rate of 5% over 2016-2024. The surging demand for steel in medical & chemical equipment and automotive parts will inevitably lead to a massive demand for ferroalloy industry. Ferrochrome alloy, especially, is one of the most extensively used products in the manufacturing process of stainless steel. These alloys, with varied quantities of chromium are used to impart the features such as rust endurance that enhances the physical properties of stainless steel, segmenting their global demand, and thereby providing a positive impetus to ferroalloy market. Pertaining to its heavy end-use spectrum, ferrochrome held more than 33% of the overall ferroalloy market in 2015 and is slated to experience a growth rate of nearly 6% over 2016-2024.
The application array of ferroalloy industry is inherently distinct. These alloys find applications in the production of stainless steel, alloy steel, and carbon steel. Stainless steel, among these, is one of the most widely used alloys and finds applications in architectural design, automotive parts, food and beverage containers, household products and utensils, bolts, nuts, & screws, and underground and underwater pipelines. Stainless steel held more than 75% of the overall ferroalloy market in 2015 and is anticipated to experience a CAGR of 6% over 2016-2024.
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The massively growing automotive sector across Asia Pacific will drive the regional ferroalloy industry. In addition, the rapid industrialization and the growth of the construction and shipbuilding sectors across the region will also augment the business expansion. APAC ferroalloy market was worth more than USD 25 billion in 2015 and is forecast to observe a CAGR of 6% over 2016-2024. The extensive utilization of steel in infrastructural developments and the huge availability of iron ore deposits will impel the regional ferroalloy industry. Japan, India, and China are slated to be the major revenue pockets.
Speaking of the growing automotive sector, Europe is not far behind when it comes to the expansion of ferroalloy market. This is primarily due to the highly-established automotive sector in Germany that is consistently co-dependent on the steel sector. Europe held more than 20% of the global ferroalloy industry in 2015, primarily due to the growing industrialization across Eastern Europe, France, Germany, and UK. Subject to the increasing growth graph of the automotive sector and the presence of various medical and chemical equipment manufacturing firms, Europe ferroalloy market is expected to grow at a rate of 5% over 2016-2024.
Ferromanganese is one of the most cost-effective products of ferroalloy industry and is used heavily in the foundry sectors. With a valuation of more than USD 15 billion in 2015, ferromanganese ferroalloy market will grow at a CAGR of more than 6% over 2016-2024. This growth can be credited to the low cost of the product, excellent features, and easy availability.
Ferrosilicon is one of the most easily available and highly effective products for inoculating iron to speed up graphitization, modifying the properties of steel, and deoxidizing steel, pertaining to which it encompasses a rather attractive application spectrum. On these grounds, ferrosilicon industry accounted for a valuation of more than USD 7 billion in 2015. However, this segment is expected to witness a slightly slow growth rate, subject to the fact that the amorphous silica content of the alloy has led to the occurrence of pulmonary diseases such as tuberculosis, pneumoconiosis, and silicosis.
Considering the number of abundantly available iron ore deposits, ferroalloy market is rather fragmented, with both, large corporations and small and medium-sized businesses partaking in the revenue share. The top five participants of ferroalloy industry had contributed toward less than 10% of the overall share in 2015. Major players operating in this business include S.C. Feral, Shanghai Shenjia, Eurasian Natural Resources Corp., China Minmetals, Sinosteel Jilin, Tata Steel, Nikopol, ArcelorMittal, MidUral Group, Jindal Group, Pertama Ferroalloys, OM Holdings, LEMETCO GmbH, Ferro Alloys Corporation, Sakura, and Georgian American Alloys.
Several governmental and regulatory bodies across the globe have mandated certain rules and norms pertaining to mining processes on account of the environmental impact of these industrial procedures. For instance, the EPA implemented the Iron and Steel Effluent Guidelines and Standards in 1974 and had it amended several times until 2005. A rise in these regulatory norms may slightly hinder ferroalloy market over the years to come. However, the application scope of these alloys is extensively vast – the products are used majorly in industrial development, such as tubes, forgings, springs, railways, etc. On these grounds, it would be safe to declare that the growth graph of ferroalloy industry is slated to increase exponentially over the coming seven years.
Author Name : Saipriya Iyer