Bioreactor market to experience lucrative opportunities in the U.S., rich biopharmaceutical industry base to drive the regional growth
Growing focus on R&D in biotechnology and increasingly rising chronic disorders are outlined as the prime drivers behind bioreactors market growth. The investments in the biopharmaceutical sector are soaring as demand for product innovation, and effective therapeutic vaccines are on a constant rise. Besides, favorable government initiatives to expand and improve healthcare infrastructure will further provide an impetus to bioreactors market. The surging precision medicine market has impelled personalized medical treatments for the patients, which, in turn, will favor the growth of bioreactor industry. As per the report compiled by Global Market Insights, Inc., the Global Bioreactor Industry is estimated to register 18% CAGR over the period of 2016-2024.
U.S. Bioreactor Market Share, By Technology, 2016
Progressing tissue engineering technologies, development of orphan drugs, and growing antibodies production are also identified as the typical trends which are significantly driving the bioreactors market share. Biopharma manufacturers, CMOs (Contract manufacturing organizations) and R&D organizations are the three predominant end-use industries in the worldwide bioreactor market. Holding more than 30% of overall bioreactor industry share in 2016, biopharmaceutical manufacturers have enabled effective drug delivery systems and combination products. The bioreactor industry is likely to spectate growing collaborations in biopharmaceutical sector through strategic partnerships with diagnostic developers, medical device manufacturers, and even academic institutions.
One such example is of Sartorius Stedim Biotech, a leading global supplier in the biopharmaceutical industry acquisition of U.S. start-up kSep Holdings, Inc. in 2016. kSep Systems leverages its innovation and engineering expertise to develop automated centrifugation systems which are widely used in manufacturing of monoclonal antibodies, cell-based therapeutics, and vaccines. This USD 28 million deal successfully expanded Sartorius’ bioprocessing solutions portfolio.
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The growing number of pharmaceutical companies and technological advancements in the medical space is driving the U.S. bioreactor market size, slated to cross an industry valuation of USD 600 million by 2024. Germany bioreactor market accounted for more than 25% of Europe share and is anticipated to grow substantially over the years ahead, with the presence of leading industry players, favorable governmental policies, and rising healthcare expenditures.
Based on technology, bioreactor market is segmented into single use bubble column, wave-induced motion SUB, and stirred SUB technology. Accounting for more than one half of the global bioreactor industry share, the wave-induced motion SUB technology represents the biggest technological segment. Stirred SUBs is also set to accelerate its business with its growing demand in biopharmaceutical industry. Stirred SUBs market is anticipated to record more than 18% CAGR over the period of 2016-2024.
China bioreactor industry driven by rising prevalence of chronic diseases and increasing R&D investment in the region is further expected to record an annual growth rate of 19% over the time span of 2016-2024. An overall shift from traditional methods to new production techniques of monoclonal antibodies, cell culturing, and recombinant proteins will keep Asia Pacific bioreactor market growth perpetual.
The monoclonal antibodies occupied over 35% of the overall industry share by collecting revenue worth USD 190 million in 2016. Increasing application of the monoclonal antibodies molecule in the treatment of asthma, leukemia, breast cancers, etc. have attributed to the segment’s growth.
Taking into account the bioreactor market bifurcation based on type of cells, mammalian cells held over 75% of industry share. Furthermore, the yeast cells demand is projected to record a CAGR of 15% over the period of 2016-2024. Increasing research activities is likely to expand the business for bioreactors.
Eppendorf, Sartorius, GE Healthcare, Thermo Fisher Scientific, and Merck Millipore are some of the prominent players in bioreactor industry.
Author Name :Ojaswita Kutepatil
Industrial Safety Footwear Market to accrue massive revenue via construction applications over 2016-2024, APAC to majorly drive the regional demand
Industrial Safety Footwear Market graph is predicted to experience an exponential curve, owing to the rising concerns regarding employee safety coupled with strict rules imposed by regulatory bodies such as ILO and OSHA for promoting safe working conditions. The emerging PPE market, which is currently witnessing an impressive growth, is also estimated to push the market trends over the coming years. Construction expenditure across the globe was valued at USD 7 trillion in 2013, and is forecast to hit USD 15.5 trillion by 2024. This will sketch a profitable roadmap for industrial safety footwear market, subject to the surging product demand across the construction sector to avoid fatal accidents coupled with the extensive use of protective shoes which offer protection against falling objects such as pointed nails. As per Global Market Insights, Inc., “Industrial safety footwear industry, is expected to hit USD 7.8 billion by 2024, registering an annual growth of 5% over 2016-2024.”
U.S. Industrial Safety Footwear Market size, by application, 2015 & 2024 (Million Pairs)
Considering the regional trends, Brazil industrial safety footwear industry size will register a CAGR of 5% over 2016-2024 and is expected to make noteworthy contributions towards LATAM industrial safety footwear market share. Rise in the number of shale gas explorations along with the thriving food processing sector in Brazil will pave a way for the industry growth across the region.
Europe industrial safety footwear industry is projected to observe a striking growth over the years to come, driven by strict regulations pertaining to worker safety coupled with the thriving chemical & construction sectors across the region. Germany industrial safety footwear market in the transportation sector is projected to accrue a revenue of USD 30 million by 2024.
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China industrial safety footwear industry is expected to record a CAGR of 5.5% over the next few years, driven by high expenditure on infrastructural growth along with the escalating product demand from the prospering construction sector. India and China are expected to push APAC market expansion in future. MEA industrial safety footwear market, driven by Qatar, South Africa, UAE, and Saudi Arabia, is anticipated to grow notably over the span of few years. The growth can be attributed to the rising usage of anti-impact oilfield shoes, oil resistant safety shoes, and pipeline construction shoes in the petrochemical sector.
Industrial safety footwear finds applications across the pharmaceutical, construction, mining, manufacturing, pharmaceutical, oil & gas, transport, chemicals, and transport sectors. Manufacturing applications are foreseen to record a CAGR of 5% over the coming seven years. The growth can be credited to the product’s ability to offer water-resistance, protection against chemicals, and shock absorbance. Industrial safety footwear market size in oil & gas sector is projected to expand considerably over the span of few years, subject to the mounting demand for lightweight & slip-resistant industrial protective shoes in oil & gas extraction projects. Construction applications are expected to contribute considerably towards industrial safety footwear market revenue, owing to extensive use of protective shoes by workers doing construction work.
Shoes and boots are the major industrial safety footwear products. Industrial safety boots sector is projected to register notable gains of more than 4.5% over the coming seven years due to its widespread usage as protective wear in various industrial sectors. The shoes sector is projected to contribute more than USD 6 billion towards industrial safety footwear industry revenue by 2024, subject to its ability to provide comfort and offer protection against fatal injuries.
Based on the material trends, industrial safety footwear market is segmented into polyurethane, leather, waterproof, rubber, and plastic materials. Waterproofing material creates a water-resisting barrier to avoid feet from getting wet in water-based work environments across the automotive and chemical sectors, owing to which waterproof industrial safety footwear industry is anticipated to grow at a CAGR of 6% during the duration from 2016 to 2024,
Rubber industrial safety footwear market is set to experience significant gains of over 5% during the period of 2016-2024, with rubber soles providing high resistance against alkalis, chemicals, and acids across chemical factories. Leather industrial safety industry, worth USD 4 billion in 2015, is anticipated to experience a massive expansion in the years ahead. The growth can be attributed to the material’s durability and ability to offer protection against electric shocks.
COFRA S.r.l., Honeywell International Inc., Guangzhou Saicou Shoes Company Limited, Hillson Footwear Private Ltd, Liberty Group, Gabri Safety Shoes, Pezzol Industries srl, Caterpillar Inc., Hewats Edinburgh, Anbu Safety Industrial Company Limited, W.L. Gore & Associates Inc., Uvex Group, V.F. Corporation, Safetyking Industrial Footwear (M) Sdn Bhd, Rahman Group, Dunlop Boots, Esteway Safety Shoes, and Simon Corporation are the key players of industrial safety footwear market.
Author Name :Dhananjay Punekar
APAC Coated Paper Market to witness the highest growth rate over 2016-2024, high investments in the advertisement sector to spur the regional revenue
The surging demand for high quality print images for advertisement applications is likely to stimulate global Coated Paper Market over the next seven years. Being highly capital-intensive, coated paper industry is estimated to experience a paradigm shift from the developed regions to the emerging economies such as Latin America and Asia Pacific. Coated paper production requires natural raw material such as wood pulp and water, heavy amount of energy, and ample human resources. Pertaining to these factors, companies operating in global coated paper market are trying to expand their base across APAC and LATAM. In addition, the increased spending capability of consumers will fuel coated paper market size, estimated to cross USD 57 billion by 2024, with a CAGR anticipation of 4.2% over 2016-2024.
U.S. Coated Paper Market size, by application, 2015 & 2024 (USD million)
The rising popularity of the internet and the subsequent increase in home delivery system is also expected to stimulate coated paper industry. With coated paper being available in various textures, coated paper market products find extensive applications across the packaging sector. UK online trade was almost 10% of the overall UK retail sales in 2015. Online sales recorded more than 4% of the overall sales in the United States in 2015. These statistics provide ample evidence that retail packaging is slated to be one of the most promising end-user segments of coated paper market by the end of 2024.
The extensive growth of the Flexible Packaging Market will also stimulate the market trends. This type of packaging is dominant in the food and beverages sector, which is currently experiencing a massive growth. Surveys depict that there has been an increasing global awareness pertaining to the usage of plastics for packaging, which has led to a high demand for biodegradable packaging products. The F&B sector reportedly accounts for more than 50% of the flexible packing market and will continue to demonstrate a heavy growth, owing to the popularity of packaged and ready-to-eat and ready-to-cook meals.
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Packaging applications accounted for more than 48% of coated paper market in 2015 and are anticipated to grow at a rate of 4.5% over 2016-2024. Subject to the growing product demand from the retail, e-commerce, and F&B sectors, packaging applications are slated to hold a share of 50% of coated paper industry by 2024.
Global media advertisement expenditure was worth USD 600 billion in 2015 and is projected to rise extensively over the next few years, pertaining to the increased product commercialization. Print ads are expected to have a high-quality finish – be it glossy, matt, dull, satin, or silk. The increasing demand for excellent quality ads will spur coated paper market from printing applications.
Coated paper market from printing applications was valued over USD 18 billion in 2015. With the advent of digital media, the demand for printing ads has gone down a great deal, owing to which coated paper industry from printed applications will witness a sluggish growth rate over 2016-2024.
This market encompasses fine and groundwood coated paper products. Fine products held more than 50% of coated paper industry, with a revenue generation of more than USD 20 billion, in 2015. The segment will grow at a fairly modest rate, however, it is likely to lose its demand to groundwood products.
Groundwood products accounted for more than 33% of coated paper market in 2015 and is anticipated to grow at a significant rate over the next few years. Light weight and medium weight groundwood coated paper products are used in brochures, pamphlets, and magazines, and prove to be apt alternatives for their expensive counterparts.
Europe held more than 35% of the global coated paper industry share in 2015, with a valuation of USD 14 million, and will experience a modest growth rate over the next few years. This expansion can be credited to the stringent regulations mandated by REACH, regarding the usage of harmful plastics for packaging.
APAC coated paper market is projected to be the region exhibiting the highest growth rate of 6% over 2016-2024, subject to the rise in home delivery demand and the surging online trade in the region. The increased spending on advertising and rising commercialization of various products will spur APAC coated paper industry, slated to generate a revenue of USD 20 billion by 2024.
Global coated paper market is rather fragmented, with the top seven players holding less than 40% of the overall revenue. Companies are engaged in frequent mergers & acquisitions and are renowned to spend heavily in research & development activities, subject to which coated paper industry is slated to get fiercely competitive in the ensuing years. Key participants partaking in this market include Arjowiggins SAS, Nippon, Oji Holdings Corporation, Stora Enso Oyj, Burgo Group S.p.A., Verso Corporation, UPM-Kymmene Corp., Sappi Ltd., Lecta Deutschland GmbH, Asia Pulp & Paper Co. Ltd, Resolute, NewPage Corporation, Dunn Company, and Boise Inc.
Author Name :Saipriya Iyer
APAC gasoline direct injection (GDI) systems market to register maximum gains over 2016-2024, India and China to be the potential growth avenues
The deployment of technological innovations such as integration of valve operation systemss & drive systemss will spur GDI systems market. This incorporation will bring about optimized fuel efficiency and increased fuel economy, which is the need of the hour, especially for price-sensitive consumers. Strict norms mandated by regulatory bodies to reduce the base lines of the fuel efficiency and carbon dioxide emissions will stimulate the growth of Gasoline Direct Injection (GDI) Systems Market.
Germany GDI system market size, by application, 2012-2024 (USD Million)
GDI systemss contribute to the reduction of pollutant emissions via turbocharging and are estimated to reduce around 15% of carbon emissions and fuel consumption. These benefits coupled with the rising vehicle demand and the introduction of next gen fuel saving technologies will push gasoline direct injection systems industry, slated to cross USD 10 billion by 2024, with a CAGR estimation of 12% over 2016-2024.
Leading corporations have been trying to diversify their product offering by means of incorporating advanced technologies in order to gain an edge over their competitors. For instance, Denso, in 2014, declared that it planned to invest around USD 10 million at DIAM (DENSO International America) with an aim to develop GDI systems components for improving the overall product performance. These initiatives will subsequently lead to an increased consumer base, thereby propelling gasoline direct injection systems market.
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Industry players fiercely compete with each other on the grounds of product quality, deployed technologies, and product costs, to sustain their business position. Gasoline direct injection systems market is quite consolidated with the presence of selected companies such as Continental, MSR-Jebsen Technologies, Mitsubishi Electric Corp., Magneti Marelli, Bosch, Denso, Bajaj Auto Ltd., Stanadyne, Eaton Corporation, Delphi, and Hitachi. These companies have been making efforts to manufacture high quality and high performance exhibiting GDI systems components at lower prices to deal with their rivals.
GDI systemss incorporate four major components, namely fuel injectors, sensors, electronic control units, and fuel pumps. Electronic control units accounted for the largest share in gasoline direct injection systems market in 2015, subject to the high product demand for regulated equipment control. Fuel pumps and injectors are also expected to propel GDI systems industry, owing to their extensive application across the automotive sector.
APAC has been predicted to emerge as one of most lucrative growth avenues for gasoline direct injection systems market, pertaining to the extensive expansion of the automotive sector and surging demand for fuel efficient vehicles in the region. Countries such as India, Indonesia, and China are slated to be the major revenue pocket, subject to the increasing awareness regarding GHG emissions in the region.
The rapid increase in the spending capabilities of consumers has led to a significant increase in the sales of automobiles across the globe. As per estimates, the United States and China are the top two nations that have the largest customer pool of passenger vehicles, which is likely to drive GDI systems industry from this application segment.
Commercial vehicles accounted for more than 30% of the gasoline direct injection systems market share in the year 2015 and is estimated to grow at a CAGR of 12% over 2016-2024. This growth can be credited to the increasing demand for commercial vehicles across myriad sectors such as logistics and transportation.
Europe held more than 40% of the global gasoline direct injection systems industry share in the year 2015 and is anticipated to register significant growth in the years ahead. The enforcement of Euro 5, one of the many vehicle emission standards by the European Union coupled with other stringent regulations mandates related to vehicular emissions will impel Europe GDI systems market. Automobile companies have been striving to manufacture products that comply with GHG emission standards and the Federal norms related to fuel efficiency, thereby driving gasoline direct injection systems industry.
Companies have also been integrating innovative technologies in GDI systems components to improve the operational efficiency, reliability, network capability, and the overall vehicular efficiency. High initial equipment costs are likely to pose a constraint to GDI systems market over the next few years. Besides, as reported by automotive servicing personnel, the equipment depicts an increase in the carbon content, leading to blockage in fuel systemss, which will eventually increase the maintenance costs. To combat these restraints, GDI component manufacturers have been adopting laser-drilled holes that will help reduce emissions, achieve efficient fuel combustion, and eliminate unnecessary costs. Laser-based manufacturing technology apparently helps to save around 20% of the fuel consumption. The deployment of this technology will undeniably drive gasoline direct injection systems industry.
The increasing rate of automobile repair and maintenance will also fuel GDI systems market over the next few years. In addition, the characteristics such as optimized fuel consumption, light weight, high efficiency, and compactness in vehicles will lead to an expanding consumer base across the globe, driving worldwide gasoline direct injection systems market.
Author Name :Saipriya Iyer
Zeolite 4A Market to earn a colossal revenue from the detergent sector, Europe to be a profitable growth avenue over 2016-2024
Rising awareness regarding the ill-effects of phosphate based detergents has led to a massive growth in Zeolite 4A Market, subject to the fact that this product is environment friendly and possesses excellent ion exchange capacity. Its heat capacity ranges between 37 Kelvin to 311 Kelvin, owing to which it is characterized by strong enthalpy and thermodynamic stability. These benefits lead to zeolites finding applications across the detergent and catalysts sectors. The product has high sequestering power even at elevated temperatures and refrains from depicting fertilization effects, owing to which zeolite 4A industry encompasses an application landscape comprising waste water treatment, packaging, petroleum refining, gas separation, and air separation & drying.
U.S. Zeolite 4A Market size, by application, 2013-2024 (USD Million)
The presence of excess phosphorous content in water can hamper the growth of aquatic plants, leading to ecological imbalance. In addition, the presence of hazardous phosphates in wastewater can also lead to environmental pollution. These issues demand the elimination of phosphate, which is posing to be a serious threat to quality drinking water and the environment, and have generated a requirement for zeolite-based adsorbents, which will impel zeolite 4A market growth. Regulatory norms pertaining to environmental pollution and the hazardous effects of phosphate will spur zeolite 4A industry size, slated to surpass USD 2 billion by 2024, growing at a CAGR of 5% over 2016-2024, having had a valuation of USD 1.2 billion in 2015.
Global liquid detergents demand was more than 5.4 million tons in 2015 in terms of volume and is likely to exceed 7.6 million tons by 2024, with an estimated CAGR of more than 3.2% over the next few years. Global powdered detergents market on the other hand, was worth more than 12.6 million tons in 2015 and is stipulated to exceed 15.2 million tons by 2024, with a CAGR of 2.3% over the next few years. The extensive growth of the aforementioned sectors will stimulate zeolite 4A market from the detergent industry.
Zeolites are highly efficient to remove dirt particles and prevent foreign particle deposition, owing to which they are used as phosphorus replacements to manufacture detergents. This will augment zeolite 4A industry size from detergent applications, slated to generate more than USD 535 million by 2024.
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Subject to the presence of numerous detergent and refrigerant manufacturers and a favorable regulatory landscape regarding GHG emissions, Germany zeolite 4A market is expected to register more than 77 kilo tons by 2024 in terms of volume.
Netherlands is reputed to be one of the first five countries that set a benchmark for banning phosphate based detergents. Subject to the stringent norms enforced by other regulatory bodies in the nation, Netherlands zeolite 4A industry size is anticipated to garner a massive revenue by 2013, having generated a valuation of USD 35 million in 2015. The existence of a strict regulatory framework is also expected to impel France zeolite 4A market. With Germany, Netherlands, France, and Belgium being the chief contributors, Europe zeolite 4A industry is anticipated to be one of the most lucrative growth avenues by 2024.
Brazil zeolite 4A market size from detergent applications is also slated to record a business of 10 kilo tons by 2024.
Zeolites are used as adsorbents in waste water treatment, chemical, and the oil & gas sectors. Their crystalline structure makes them suitable for adsorption applications, and they are used as effective agents for drying and purifying gases and liquids. Zeolite 4A industry size from adsorbents was worth more than USD 312 million in 2015 and is anticipated to cross USD 535 million by 2024, with a CAGR projection of 3% over 2016-2024. This growth can be credited to the usage of the product across end-use sectors such as oil & gas and chemicals, as well the numerous technological innovations deployed by manufacturers to develop superior adsorbents.
India zeolite 4A market size from adsorbents is expected to grow at a rate of 4.5% over 2016-2024, subject to the product’s applications in wastewater treatment plants.
Petroleum catalysts have the ability to control catalytic reactions, and are known to offer better product recovery compared to other catalytic reactions, which is anticipated to spur zeolite 4A industry. Zeolite-based catalysts are used in the end-use sectors such as oil & gas and chemicals for fluid cracking and similar catalytic reactions.
Refineries across the globe generated an output volume of 76,287 thousand barrels per day in the year 2013 and 76,865 thousand barrels per day in 2015. Subject to the increasing volume of output from refineries, demand for zeolites in the petroleum sector is expected to grow across the regions of Asia Pacific and the Middle East and Africa. Zeolite 4A market size from catalysts will grow at a rate of 3% over 2016-2024, pertaining to the increasing product usage for downstream petrochemical reactions.
China zeolite 4A industry from catalysts will also witness a CAGR of 3% over 2016-2024, subject to the product usage in the increasing number of chemical factories in the region. China zeolite 4A market is also anticipated to grow at rate of 3% over the next few years. This growth can be attributed to the increasing infrastructural expenditure for asphalt concrete mixtures and light weight construction material.
Global zeolite 4A market share is rather fragmented and involves the participation of many small and medium sized businesses and large-scale corporations. Key players include BASF, PQ Corporation, Tosoh Corporation, and Clariant International.
Author Name :Saipriya Iyer
U.S. electric motorcycles & scooters market to witness a double-digit CAGR over 2018-2024, presence of renowned players to augment the regional industry trends
Powered by depleting fossil fuel resources & rising increasing concerns on CO2 emissions, electric motorcycles & scooters market has witnessed quite an exponential growth graph lately. Renowned superbike manufacturers like Benelli, Honda, and many more have been involved in myriad research and development activities to launch innovative and effective e-motorcycles. Validating the aforementioned fact, in 2017, Honda launched its future electric and hybrid technology at the Tokyo Motor Show. The technology can apparently be used for the deployment of cleaner, emission-free scooters, as it is endowed with easy battery swapping, enabling users to change batteries any time and get back on the road.
Honda’s initiative is remnant of incredible efforts undertaken by prominent electric motorcycles and scooters market giants to contribute toward a greener future. Taking into account the environmental benefits of using electric vehicles, many regional governments have also been implementing strict regulatory norms that would prompt a surge in the adoption of e-vehicles. In accordance, vehicle manufacturers have been found to consistently implement new technologies for attracting end-users.
U.S. Electric Motorcycles & Scooters Market, By Battery, 2017 & 2024, (Units)
Speaking along the same lines, the governments of several countries have been striving to reduce the ever-lasting, hazardous issue of air pollution. In order to reduce the sale of fuel-powered vehicles for an emission-free future, government bodies have been providing subsidies and incentives to electric motorcycles and scooters industry firms. This alone has proved to be a commendably attractive force for renowned car manufacturers to penetrate the expanding electric motorcycles and scooters industry.
The leading two-wheeler manufacturer, Harley Davidson recently made it to the headlines for announcing its intention to launch its fully electric motorcycle, mainly designed for the reckless youth populace. Harley Davidson’s initiative may encourage numerous other companies to introduce fully electric motorcycles that would transform urban transportation. Aided by the increasing popularity of these vehicles by the day and their subsequent deployment, electric motorcycles and scooters industry trends will witness a dynamic transformation in the years to come.
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As startups have now begun to penetrate electric motorcycles and scooters industry, the vertical seems to be on the verge of witnessing a ferocious competition. For instance, in the U.S., many skateboard manufacturers have been investing in development of electric scooters. Popular skateboard manufacturing companies such as Bird, Spin, and LimeBike have deployed dockless electric scooters on West Coast and other bigger cities across U.S. In order to generate substantial remuneration, these scooter manufacturers are increasingly investing in research and development activities. With the launch of advanced versions of e-vehicles, U.S. electric motorcycles and scooters industry is slated to register a CAGR of more than 16.4% over 2018-2024.
The shifting trend toward green and emission-free resources will generate lucrative opportunities for potential new investors in electric motorcycles & scooters industry. The launch of innovative and advanced vehicles will help new entrants suitably augment their product portfolios over the years ahead. Regional governments have also been standardizing a set of regulatory norms that are expected to help vehicle manufacturers attract more customers. Lately, reducing vehicle cost has also emerged as one of the strategies adopted by the already established manufacturers in electric motorcycles and scooters market, to further strengthen their consumer pool. Driven by a slew of sustainability goals charted out by regulatory agencies with regards to energy efficiency, electric motorcycles and scooters industry size is anticipated to be pegged at USD 22 billion by 2024.
Author Name :Sunil Hebbalkar
Biopolymer coatings market revenue to cross the 1-billion-dollar mark by 2024, surging demand for PLA coatings from the F&B packaging sector to fuel the industry growth
Subject to the hazardous effects of synthetic coatings of late, biopolymer coatings market has been gaining renewed traction. Shifting focus toward the consumption of packaged food is expected to fulfill demand for this product over the next few years. Regulatory bodies across various parts of the globe have been enforcing stringent norms to promote the adoption of renewable and cost-effective products. Such initiatives are expected to significantly propel biopolymer coatings industry size. As per the report by Global Market Insights, Inc., “Biopolymer Coatings Market having had a revenue of USD 750 million in 2015, will record an annual growth rate of more than 6% over the period of 2016 to 2024.”
Europe biopolymer coatings industry will generate a significant revenue with a CAGR of more than 6% over the coming seven years. Surging usage of the product in the food & beverage sector owing to the deployment of supportive rules and regulations will drive the regional growth. Germany, UK, and France are forecast to be the major contributors of Europe biopolymer coatings market.
PLA based biopolymers are extensively used in the food & beverage sector for vegetables, water, fruits, nuts, beverages, and alcohol packaging, pertaining to which PLA based biopolymer coatings market will collect a revenue of more than USD 50 million by 2024.
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Considering that the globe has been facing the environmental issues of landfill and degradation, consumers have been changing their focus from plastic to paper, mainly across the APAC belt. Asia Pacific accounted for more than 45% of the share in global paper production industry. The increasing usage of paper across the food & beverage sector will positively impact the packaging sector, which in turn will favor biopolymer coatings industry share. Bio PU based coatings are easily available, less harmful to the environment, biodegradable, and less expensive, subject to which bio PU based biopolymer coatings industry will register an annual growth rate of more than 6% over the period of 2016 to 2024. The growth can also be attributed to the escalating use of the product for automotive, furniture, textile, and architectural applications.
China biopolymer coatings market will exhibit an annual growth rate of more than 6.5% over the years ahead. Governmental initiations toward the usage of renewable packaging will favor industry growth. Additionally, growing industrialization across this region coupled with surging construction activities will fuel the requirement of the product for furniture, flooring, and decking, thereby propelling the regional biopolymer coatings market.
Germany natural wax based biopolymer coatings market will exhibit a CAGR of 3% over the coming timeframe, owing to the presence of a huge automotive manufacturing base. This product is primarily used to manufacture steering wheels, door seats, dashboards, and consoles, which leads to its extensive deployment across the automotive sector.
Bio polyamide coatings is extensively used across wire goods, construction, electrical, and automotive sector pertaining to the notable benefits of the product such as high chemical resistance, protection against fire, and electrical resistance, which will favorably influence biopolymer coatings market size. Soy protein based product segment will grow at an annual growth rate of 4% over the years ahead.
A global need for reduced raw material price trends has been identified, which is likely to generate attractive growth opportunities for the market players. In addition, prominent companies have been focusing on product differentiation and capacity expansion to expand their footprints across the globe. Extensive funding on research and development activities is also a key strategy adopted by these players. Major participants in biopolymer coatings market are AkzoNobel, Cargill, BASF, Roquette Group, EcoSynthetix, Corbion, and Novamont.
Author Name :Sunil Hebbalkar