Pine-derived chemicals manifest an amazing range of chemicals taken from various pine tree parts such as the bark, wood, and needles. These chemicals are extensively used by many industries in diverse ways such as the manufacture of adhesives, paints, and their coatings, fragrances, flavors, and pharmaceuticals among others. Moreover, pinewood chemicals are used in cosmetics, vitamin intermediates, pine oil disinfectants, insect repellents, aroma and perfumes, and food and beverage flavouring among others.
This pine chemical industry (PCI) is clearly first and foremost the pioneer of using biomass resources to manufacture sustainable products from a renewable source at the same time. The major raw materials, crude tall oil, and crude sulphate turpentine are always procured during the pulping of the evergreen, cone-bearing trees. Sawdust, a leftover from the processing of wood, also has applications that benefit the environment, such as filtering water for drinking and cleaning auto emissions.
Explore the Pine-Derived Chemicals Market
Discover the full potential of pine-derived chemicals with our comprehensive market report, offering detailed insights into growth trends, applications, and competitive landscapes.
- ✅ Market Size & Growth Projections
- ✅ Key Industry Applications
- ✅ Regional Market Analysis
Global Production Trends
Pine trees are a crucial supplier of chemicals of pine origin which are employed in a broad range of commerce. These chemicals can be extracted from oleoresin through distillation or from the carbonized wood by-products. Among the wide variety and natural ability to reproduce, pine trees are among the best sources of these bio-based alternatives to petrochemicals.
Initially, the market is boosted by the fact that consumers and industry players are seeking sustainable and bio-based options as alternatives. Pine chemicals present a sustainable latent as a replacement for petrochemicals. Environmental issues become more and more concerning issues thus, industries are looking at environmentally acceptable solutions with an increased use of bio-based chemicals.
In addition, the expansion of wood pulp and paper production is greatly linked to the pine-based chemical market. The main process by which a paper is produced, known as Kraft pulping, among many resulting components, is called tall oil which is an important material source for pine chemicals. As a result, the demand for paper products does not decrease, the production of pine-derived chemicals increases constantly.
Based on regional trends, there will be an Asia-Pacific area that will show tremendous growth. The booming manufacturing sector combined with the demand for construction projects in this region produces a great deal of consumption of pine chemicals utilized in the manufacture of adhesives, coatings, and other industrial applications. For instance, according to the State Council China published an article in May 2024, it states that the country produced 22.42 million tonnes of machine-made paper and paperboard, which was an 11.9 percent increase compared to the previous year 2022. The sales revenue of the paper industry surged by 7.5 % with the operating revenue reaching 213.55 billion yuan (about 30.05 billion US dollars) after one year. Thus, the overall sales amount to 6.42 billion yuan in the first quarter in the year 2023, which is a 336.7% increase compared to the same period last year. Overall, the global consumption of pine-based chemicals is on a growing trend. The expansion in the pulp and paper industry as well as rising demand across diverse application sectors are all the key market growth drivers to look forward to in the years ahead.
Dive into the Adhesives Market
Pine-derived chemicals are critical in adhesive production. Explore our in-depth report on the global adhesives market for trends, forecasts, and key player insights.
Pine-Derived Chemical Use Cases
The chemicals derived from pine are famous for their environmentally safe character and versatile functions and are widely used in different industries.
The pine chemicals are a fundamental component in the construction industry. Resin from gum acts as the tackifier in the adhesives which are used in lumber bonding, plywood manufacturing, and furniture assembly. In addition, the chemicals from pine help to boost durability and adhesion in paints, varnishes, and coatings.
Paper and Packaging Pine chemicals are an integral part of the pulp and paper industries. Paper pulping process, which is called Kraft, produces tall oil with it serving as a basic raw material for pine chemicals. Beyond these indirect roles, the chemicals obtained from pine trees can be directly used as sizing agents, strengthening additives, and wet-end additives during papermaking. It increases water resistance, strength, and general paper quality.
Adding skincare and beauty products is the surprising purpose of the pine tree extracts. Fats and oils as well as sterols are used as basic building blocks that are responsible for providing a moisturizing and soothing effect. Furthermore, the pine plant sources evergreen essential oils to support fragrances and contribute a natural scent to numerous cosmetics.
Food and Beverage Sector Pine chemical applications have gained widespread utilization in the food and beverage industries. Specific pinewood by-products such as herbal flavors are allowed to be used as flavoring agents with citrusy or piney nuances which you can find in candies, sodas, and cakes.
Market Dynamics and Drivers
The demand for pine-derived chemicals is witnessing continuous growth, as the presence of factors like their wide range of functions along with renewability, are giving them unique application advantages.
The main reason for this growth is the huge trend that is happening in present days where consumers are looking more and more for ecological options. Innovations and discoveries in renewable and bio-based resources are an integral part of an ever-increasing consumers’ awareness of the environment and thus many industries search for these alternatives to the traditional petrochemical materials. Pine chemicals, native to a local source which is owned abundantly and replenished naturally, provide one possible answer to this change. The answer highlights sustainable and environmentally friendly solutions.
For instance, according to Blue Yonder the supply chain company published article on a consumer survey regarding sustainability in 2024 it states that wide number of consumers accept the benefits of sustainability, and they are ready to pay more for sustainable products. A recent study implies that 65% of customers are ready to pay more money on goods that are green-friendly. Furthermore, customers anticipate that retailers and brands embrace diverse environmental practices. According to the study, 61% of people would give preference to products utilizing recycled content or choosing packaging with less food or inventory waste. Furthermore, as many as 39% of consumers expect retailers to decrease the carbon footprint of physical stores or operations, and 34% want a decrease in transportation carbon footprint as well. This evidence shows the increasing role of sustainability in consumer choice and the necessity for companies to meet consumers’ expectations in this regard.
Moreover, the pulp and paper industry is an important contributor to the market growth. The key Kraft pulping process generates tall oil, the pine chemicals starting material. The continuous demand for paper products guarantees an uninterrupted supply of tall oil, which is further processed to produce pine-based chemicals.
Moreover, scientific growth and technological development are also key drivers behind the market expansion. Advanced extraction and processing technologies are, in turn, bringing higher yields and more economical production of pine extracts. Apart from that, continuous studies on the new applications and performances of these chemicals extend the boundaries of their usage.
In 2023, the topmost tall oil exporters were the United States with 22.84 million kg, Poland with 2.73 million kg, Sweden with 2.36 million kg, and Germany with 1.46 million kg.
Figure 1: The Tall Oil Exporter Countries (2023 Qty Unitkg)
Source: World Integrated Trade Solution
Market Challenges
Nevertheless, the market for pine-derived chemicals has yet to meet high expectations, despite its promising potential. Instability in crude oil prices that are in some cases used as substitutes for certain applications is a danger to the competitiveness of pine chemicals. Additionally, the harmful emissions resulting from the highly energy-consuming extraction process demand a constant development of more environmentally friendly methods. Also, tough environmental regulations might lead to an increase in production costs or access to the available resources. To ensure the future prosperity of the market, it will be necessary to address these challenges through the implementation of technological advancements and environmentally friendly extraction strategies.
Emerging Opportunities and Innovations
Innovation in the production of chemicals from pine is the main driver of the demand curve of the market. Supercritical fluid extraction technology and microwave-assisted extraction methods are becoming increasingly popular with regard to green chemistry and delivering ecologically sustainable ways to extract valuable substances. This extends the range of products that could be produced from pine biomass. A research also reveals that byproducts that are bio-based fuels and green solvents can be used in the energy and chemical industries for sustainable alternatives.
Discover the Lubricant Additives Market
Pine-derived chemicals are innovating the lubricant industry. Access our detailed report on the lubricant additives market to uncover growth drivers and emerging trends.
Key Developments
- In February 2024: The Kraton a company renowned for its manufacturing and sales of polymers and biochemicals in the market launched a brand-new line of bio-oils called SYLVASOLV which utilizes pine wood industrial waste as its feedstock. These high-grade oils not only offer eco-solutions for agriculture, adhesives, and lubricants but also supply ecologically acceptable alternatives for diverse industry uses.
At last, concluding that the pine–derived chemical market is projected to have various innovations and growth opportunities over the forecast period. The market is driven by the huge trend that is happening in present days where consumers are looking more and more for ecological options and technological advancement in the field of pine-derived chemical extraction. There are several challenges to be faced such as constant emission while extracting chemicals and high energy consumption during the process of chemicals. Therefore, the industry is expected to minimize technological upgradation and innovations to meet the needs of a growing global demand for the pine-derived chemical market.
Go from Insight to Action with Our Market Research
You’ve seen the overview. Now, get the detailed data and strategic analysis you need to stay ahead in the bio-based chemicals market. Explore our related, in-depth reports.
Each report includes comprehensive data, forecasts, and competitive analysis to empower your business decisions.
Automating Business Using Robotic Process Automation
Thought ArticlesThe Robotic Process Automation market was valued at US$2.039 billion in the year 2020. This market is projected to grow at a lucrative CAGR of 31.5%.
Robotic process automation (RPA) is a business process automation technology that uses metaphorical software robots or artificial intelligence/digital workforce to automate business processes.
RPA optimizes workflows, allowing companies to be more lucrative, adaptable, and responsive. It also enhances employee happiness, engagement, and productivity by eliminating monotonous activities from their working days. RPA is non-intrusive and can be implemented quickly to speed digital transformation. It’s also perfect for automating procedures using outdated systems that don’t have APIs, virtual desktop infrastructures (VDIs), or database access.
The growing use of artificial intelligence and cloud-based solutions for internal efficiency among SMEs is fueling market expansion. For instance, UiPath partnered with Snowflake to Power robotic process automation analytics in the cloud in October 2021
The growing deployment of SaaS, IaaS, and PaaS products for customer relationship management, cloud computing, enterprise resource management, open-source resources, cooperative robot learning, network connection, and other financial applications is also fueling the growth of the RPA market.
Many businesses are preparing to implement RPA technology software to automate various business operations in order to cut costs, conserve time and effort, and improve efficiency. RPA’s capacity to simplify corporate operations at a rapid speed while providing efficiency is boosting demand and industry growth. RPA can also be used in conjunction with cognitive aid, machine learning/Artificial Intelligence, speech recognition, IoT, and other technologies to accomplish complicated tasks in a short amount of time. RPA interaction models assist a variety of industry sectors, including retail, healthcare, human resources, financial services, and many more.
Growing Internet Penetration in Emerging Countries, Along With Increased Digitization
According to the World Bank, Individuals using the Internet (% of the population) grew from 49.407 in 2018 to 56.727 in 2019. In underdeveloped nations, only around 35% of the population has access to the Internet (versus about 80 % in advanced economies). According to the World Economic Forum, Africa has experienced a substantial increase in internet users in the Democratic Republic of the Congo (DRC)—between 2019 and 2020, the country’s internet user population rose by 9 million (+122 %). India has also witnessed substantial growth, with the number of internet users increasing by 128 million (+23 %) between 2019 and 2020.
RPA Innovation Is Increasing to Meet Shifting Customer Expectations
Companies in different sectors, including retail and manufacturing, are turning to RPA to reduce labour costs as labour prices continue to grow. Furthermore, by implementing robotic technology, businesses can manufacture high-quality items while removing the potential of human error. Furthermore, several industrial companies demand a high level of energy consumption and want to reduce energy costs by using robots technology, which supports the RPA market growth. Though the initial cost of robotic technology is high, it allows businesses to run their operations more effectively while reducing their overall expenditure.
The High Cost of Implementation Might Hinder the Market Growth
The cost of RPA deployment varies depending on the vendor. SMEs can pay between $4,000 and $15,000 for a single bot. On the other hand, Enterprises may need to spend up to $20 million for a complete RPA system with up to 500 robots, which will save them more than $100 million and replace over 1,000 laborforces. The cost of automated bot implementation is determined by factors such as the complexity of the bot, the time and effort spent on initial business process analysis, the initial setup and programming required, and, finally, the costs of all APIs and apps used inside a bot. While some APIs and apps are free, connecting to cloud services may incur recurring charges, which typically increase linearly with the volume of data handled. Furthermore, since RPA bots are embedded in current software applications, every upgrade to the programme may need an upgrade for the bot as well, costing additional development expenses. If software upgrades cause the RPA bots to malfunction, the customer may additionally have to pay for incident management.
Asia-Pacific Region Is Expected to Have a Prominent Market Share
The Asian-Pacific region market is projected to expand due to the increasing usage of cloud-based computing and the need for convenience. Cloud-based computing has grown significantly in popularity as internet penetration has increased, as has digitization and automation in small and medium-sized businesses. For instance, Indian Oil Corporation Ltd (IOCL) struck a five-year deal with Automation Anywhere, a global player in RPA, in September 2021 to accelerate and expand automation to promote innovation throughout its 30,000-person workforce. Furthermore, Ramssol Group Bhd (Ramssol), a leading domestic Human Capital Management (HCM) solutions and technology provider, entered into a strategic partnership with leading Artificial Intelligence Robotic Process Automation (AI-RPA) firm, Laiye, as its first authorised training partner for intelligent automation technology across Southeast Asia in October 2021 through its wholly-owned subsidiary, Rams Solution Sdn Bhd (RAMS). In 2020, YonBIP, a brand new business innovation platform, was launched by Yonyou Network Technology to expedite digital transformation and achieve long-term success for international businesses. This year, Yonyou introduced TMS Cloud, a global treasury management product, at Yonyou Hong Kong, the headquarters of the Overseas Business Unit, with the goal of providing treasury management solutions for international corporations with cross-border operations.
According to the Association for Advancing Automation, North American robot unit orders in 2019 were up 1.6 % over the same period in 2018, with 29,988 robotic units ordered. Order revenue decreased by 1.3 % in 2019, ending the year at $1.681 billion. The primary drivers of growth were a 50.5 % rise in orders from automotive OEMs and a 16.6 % increase in orders from the plastics and rubber industry. Orders to automotive component markets fell 6.6 %, while orders to all other non-automotive industries, including food and consumer products, health sciences, metals, and semiconductor/electronics, fell by single digits.
The Coronavirus Pandemic Had a Positive Effect on the Robotic Process Automation Market
COVID-19 had a negative influence on numerous industries such as retail, manufacturing, and IT and telecom were all experienced a drop in business, while healthcare organisations were overburdened by the rising number of Covid-19 cases. This unexpected situation had an impact on both back-end and front-end office operations, resulting in extended response times, staff burnout, paperwork backlog, and supply chain delays, among other things. As a result, implementing an automated solution was critical in lowering costs, providing faster customer response, and streamlining testing and reporting. Many large corporations across the world have embraced some type of RPA as they seek to digitally empower essential business processes via resilience and scalability while recalibrating human labour and manual effort. The positive impact of deploying RPA amid a pandemic-induced recession is expected to boost the demand for RPA post-pandemic.
Robotic Process Automation Market Scope:
Pine-Derived Materials Make a Way Towards Sustainable Future
Thought ArticlesPine-derived chemicals manifest an amazing range of chemicals taken from various pine tree parts such as the bark, wood, and needles. These chemicals are extensively used by many industries in diverse ways such as the manufacture of adhesives, paints, and their coatings, fragrances, flavors, and pharmaceuticals among others. Moreover, pinewood chemicals are used in cosmetics, vitamin intermediates, pine oil disinfectants, insect repellents, aroma and perfumes, and food and beverage flavouring among others.
This pine chemical industry (PCI) is clearly first and foremost the pioneer of using biomass resources to manufacture sustainable products from a renewable source at the same time. The major raw materials, crude tall oil, and crude sulphate turpentine are always procured during the pulping of the evergreen, cone-bearing trees. Sawdust, a leftover from the processing of wood, also has applications that benefit the environment, such as filtering water for drinking and cleaning auto emissions.
Explore the Pine-Derived Chemicals Market
Discover the full potential of pine-derived chemicals with our comprehensive market report, offering detailed insights into growth trends, applications, and competitive landscapes.
Global Production Trends
Pine trees are a crucial supplier of chemicals of pine origin which are employed in a broad range of commerce. These chemicals can be extracted from oleoresin through distillation or from the carbonized wood by-products. Among the wide variety and natural ability to reproduce, pine trees are among the best sources of these bio-based alternatives to petrochemicals.
Initially, the market is boosted by the fact that consumers and industry players are seeking sustainable and bio-based options as alternatives. Pine chemicals present a sustainable latent as a replacement for petrochemicals. Environmental issues become more and more concerning issues thus, industries are looking at environmentally acceptable solutions with an increased use of bio-based chemicals.
In addition, the expansion of wood pulp and paper production is greatly linked to the pine-based chemical market. The main process by which a paper is produced, known as Kraft pulping, among many resulting components, is called tall oil which is an important material source for pine chemicals. As a result, the demand for paper products does not decrease, the production of pine-derived chemicals increases constantly.
Based on regional trends, there will be an Asia-Pacific area that will show tremendous growth. The booming manufacturing sector combined with the demand for construction projects in this region produces a great deal of consumption of pine chemicals utilized in the manufacture of adhesives, coatings, and other industrial applications. For instance, according to the State Council China published an article in May 2024, it states that the country produced 22.42 million tonnes of machine-made paper and paperboard, which was an 11.9 percent increase compared to the previous year 2022. The sales revenue of the paper industry surged by 7.5 % with the operating revenue reaching 213.55 billion yuan (about 30.05 billion US dollars) after one year. Thus, the overall sales amount to 6.42 billion yuan in the first quarter in the year 2023, which is a 336.7% increase compared to the same period last year. Overall, the global consumption of pine-based chemicals is on a growing trend. The expansion in the pulp and paper industry as well as rising demand across diverse application sectors are all the key market growth drivers to look forward to in the years ahead.
Dive into the Adhesives Market
Pine-derived chemicals are critical in adhesive production. Explore our in-depth report on the global adhesives market for trends, forecasts, and key player insights.
Pine-Derived Chemical Use Cases
The chemicals derived from pine are famous for their environmentally safe character and versatile functions and are widely used in different industries.
The pine chemicals are a fundamental component in the construction industry. Resin from gum acts as the tackifier in the adhesives which are used in lumber bonding, plywood manufacturing, and furniture assembly. In addition, the chemicals from pine help to boost durability and adhesion in paints, varnishes, and coatings.
Paper and Packaging Pine chemicals are an integral part of the pulp and paper industries. Paper pulping process, which is called Kraft, produces tall oil with it serving as a basic raw material for pine chemicals. Beyond these indirect roles, the chemicals obtained from pine trees can be directly used as sizing agents, strengthening additives, and wet-end additives during papermaking. It increases water resistance, strength, and general paper quality.
Adding skincare and beauty products is the surprising purpose of the pine tree extracts. Fats and oils as well as sterols are used as basic building blocks that are responsible for providing a moisturizing and soothing effect. Furthermore, the pine plant sources evergreen essential oils to support fragrances and contribute a natural scent to numerous cosmetics.
Food and Beverage Sector Pine chemical applications have gained widespread utilization in the food and beverage industries. Specific pinewood by-products such as herbal flavors are allowed to be used as flavoring agents with citrusy or piney nuances which you can find in candies, sodas, and cakes.
Market Dynamics and Drivers
The demand for pine-derived chemicals is witnessing continuous growth, as the presence of factors like their wide range of functions along with renewability, are giving them unique application advantages.
The main reason for this growth is the huge trend that is happening in present days where consumers are looking more and more for ecological options. Innovations and discoveries in renewable and bio-based resources are an integral part of an ever-increasing consumers’ awareness of the environment and thus many industries search for these alternatives to the traditional petrochemical materials. Pine chemicals, native to a local source which is owned abundantly and replenished naturally, provide one possible answer to this change. The answer highlights sustainable and environmentally friendly solutions.
For instance, according to Blue Yonder the supply chain company published article on a consumer survey regarding sustainability in 2024 it states that wide number of consumers accept the benefits of sustainability, and they are ready to pay more for sustainable products. A recent study implies that 65% of customers are ready to pay more money on goods that are green-friendly. Furthermore, customers anticipate that retailers and brands embrace diverse environmental practices. According to the study, 61% of people would give preference to products utilizing recycled content or choosing packaging with less food or inventory waste. Furthermore, as many as 39% of consumers expect retailers to decrease the carbon footprint of physical stores or operations, and 34% want a decrease in transportation carbon footprint as well. This evidence shows the increasing role of sustainability in consumer choice and the necessity for companies to meet consumers’ expectations in this regard.
Moreover, the pulp and paper industry is an important contributor to the market growth. The key Kraft pulping process generates tall oil, the pine chemicals starting material. The continuous demand for paper products guarantees an uninterrupted supply of tall oil, which is further processed to produce pine-based chemicals.
Moreover, scientific growth and technological development are also key drivers behind the market expansion. Advanced extraction and processing technologies are, in turn, bringing higher yields and more economical production of pine extracts. Apart from that, continuous studies on the new applications and performances of these chemicals extend the boundaries of their usage.
In 2023, the topmost tall oil exporters were the United States with 22.84 million kg, Poland with 2.73 million kg, Sweden with 2.36 million kg, and Germany with 1.46 million kg.
Figure 1: The Tall Oil Exporter Countries (2023 Qty Unitkg)
Source: World Integrated Trade Solution
Market Challenges
Nevertheless, the market for pine-derived chemicals has yet to meet high expectations, despite its promising potential. Instability in crude oil prices that are in some cases used as substitutes for certain applications is a danger to the competitiveness of pine chemicals. Additionally, the harmful emissions resulting from the highly energy-consuming extraction process demand a constant development of more environmentally friendly methods. Also, tough environmental regulations might lead to an increase in production costs or access to the available resources. To ensure the future prosperity of the market, it will be necessary to address these challenges through the implementation of technological advancements and environmentally friendly extraction strategies.
Emerging Opportunities and Innovations
Innovation in the production of chemicals from pine is the main driver of the demand curve of the market. Supercritical fluid extraction technology and microwave-assisted extraction methods are becoming increasingly popular with regard to green chemistry and delivering ecologically sustainable ways to extract valuable substances. This extends the range of products that could be produced from pine biomass. A research also reveals that byproducts that are bio-based fuels and green solvents can be used in the energy and chemical industries for sustainable alternatives.
Discover the Lubricant Additives Market
Pine-derived chemicals are innovating the lubricant industry. Access our detailed report on the lubricant additives market to uncover growth drivers and emerging trends.
Key Developments
At last, concluding that the pine–derived chemical market is projected to have various innovations and growth opportunities over the forecast period. The market is driven by the huge trend that is happening in present days where consumers are looking more and more for ecological options and technological advancement in the field of pine-derived chemical extraction. There are several challenges to be faced such as constant emission while extracting chemicals and high energy consumption during the process of chemicals. Therefore, the industry is expected to minimize technological upgradation and innovations to meet the needs of a growing global demand for the pine-derived chemical market.
Go from Insight to Action with Our Market Research
You’ve seen the overview. Now, get the detailed data and strategic analysis you need to stay ahead in the bio-based chemicals market. Explore our related, in-depth reports.
Each report includes comprehensive data, forecasts, and competitive analysis to empower your business decisions.
SiC Wafer Market is projected to grow at a CAGR of 21.60% to reach US$1.299 billion in 2029
Press ReleasesThe SiC wafer market is expected to grow at a CAGR of 21.60% with a market valuation of US$0.331 billion in 2022 and is expected to reach a market value of US$1.299 billion by 2029.
The production of SiC wafers has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand. For instance, factors such as rapid growth in the automotive industry need shorter charge times, longer ranges, and better performance. Also, it has benefits in various industries such as its high thermal conductivity, low switching losses, improved power density, increased bandwidth capabilities, and effective and efficient functioning at high temperatures. The production is predicted to rise with increasing applications of SiC wafers.
As per the report, the SiC wafer market is expected to grow significantly.
Silicon carbide semiconductors better known as SiC Wafers have a wide bandgap of silicon carbide which makes it perfectly compatible with high-power applications. SiC wafers are widely used in several industries due to their hardness, stability under heat and high voltage current, and wide bandgap. It was discovered in 1893 as an industrial abrasive for automotive brakes and grinding wheels. Also, the hardness of SiC as it is the second hardest material in the world provides stability under high voltage current and heat, this material is being widely used in several industries.
The development and innovation in semiconductor technology across several industries is one of the growth factors in the SiC wafers market. The traditional silicon-based power semiconductors are outdated now and new SiC power semiconductors outperform them and are compatible with current industry standards. They help power modules become smaller and more energy-efficient. Most power semiconductor devices have 6-inch diameter but innovations are being made for 8-inch diameter power semiconductors. Also, the rise in demand for solar energy is leading to a lot of research and development to be done to harness its power efficiently. For instance, key players in the ecosystem industry provide SiC devices for solar power systems such as ON Semiconductor and WOLFSPEED INC. with a wide range of such as SiC diodes and SiC MOSFETs. Further, In September 2022, AIXTRON announced the release of their next-generation G10-SiC 200 mm silicon carbide epitaxy product solution which is based on the proven G5 WW C 150 mm platform, and the new G10-SiC system provides a dual wafer size option that may be customized.
Renewable energy alternatives are a huge trend in the market these days as people are switching over to more sustainable options for responsible power generation and creating a sustainable future. Solar power is one of the fastest-growing renewable energy resources among users and industries. But to use this energy resource, the precision and reliability should be very high. In recent years, there has been a notable increase in the production of SiC wafers in emerging economies with technological advancements in various fields. They have a diverse set of end-users and can cater to all their needs for instance, the SmartSiC technology from Soitec allows power electronics equipment to increase the energy economy of electric vehicles and work much better. SiC power semiconductor helps power modules become more energy-efficient and smaller.
The SiC wafer market can be categorized into 3 main sizes: 2 to 4 inches, 6 inches, and 8 to 12 inches. The 6-inch wafer size category is anticipated to show the most growth in the silicon carbide or SiC wafer market as they provide scalability and cost-effectiveness to the manufacturers to produce their devices and improve the overall efficiency and functioning of the device. Hence, the SiC market is anticipated to grow over the forecast period with the availability of different sizes of SiC wafers catering to different end-user’s needs.
The SiC wafer market can be segmented based on the application, namely communication, power & energy, automotive, and consumer electronics. The silicon carbide or SiC wafer market is anticipated to grow significantly in the power and energy segment. SiC wafers are becoming more and more popular in the power and energy industry because of their outstanding qualities, which include wide bandgap and high thermal conductivity. Hence, the growth in renewable power energy sources and a wide variety of applications for SiC wafers across the globe is predicted to grow the market for SiC wafers in the forecast period.
The silicon carbide (SiC) wafer market is expanding significantly in the Asia Pacific area due to several important factors. The need for SiC wafers in a variety of applications is due to the region’s rapid industrialization, especially in nations like China, Japan, South Korea, and Taiwan. The Asia Pacific region which has major key players offering silicon carbide devices such as Toshiba Corporation from Japan, TanKeBlue Co. Ltd. From China, and Renesas Electronics Corporation from Japan are making significant innovations in SiC wafers technology which will increase its demand in the market globally and in the Asia Pacific region. Also, the growing innovations in the automotive industry and electric vehicle’s popularity among people is what will create various new opportunities for innovation in SiC wafer technology.
The market for SiC wafers is supported by key players such as Wolfspeed Inc., STMicroelectronics, Infineon Technologies, TankeBlue, Atecom Technology Co Ltd, SK Siltron Co Ltd, SiCrystal GmbH, Xiamen Powerway Advanced Material Co Ltd and Silicon Valley Microelectronics Inc.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/sic-wafer-market
This analytics report segments the SiC wafer market on the following basis:
Defence and Aerospace Industries Driving the Demand for Transparent Ceramics
BlogThe Global Transparent Ceramics market was valued at US$355.287 million in 2020 and is expected to grow at a CAGR of 24.93% to reach a market size of US$1,687.321 million in 2027.
Transparent ceramics are a class of advanced materials with exceptional mechanical qualities and unique transparency. In contrast to optical resins and glass materials, transparent ceramics are polycrystalline substances that have a specific amount of light transmittance. They are stronger, tougher, and more corrosion-resistant. The utilisation of these cutting-edge ceramics for thermal imaging applications is possible, particularly in demanding operational environments and with personal protective gear like face shields, helmets, and goggles. In comparison to conventional optical glass and resins, they offer strength, hardness, and great heat and scratch resistance. As a result, they have numerous applications in non-linear optics, transparent armour, solid-state lasers, scintillator components, transparent armour, and bulletproof glasses.
Given their major contributions to sectors including consumer electronics, optics and optoelectronics, aerospace and defence, and so forth, transparent ceramics have drawn a lot of attention in the past ten years. The two main drivers anticipated to drive market expansion are the rising demand for their use in sensors and the use of ceramic technology in lasers.Traditional glass is being replaced with new products created by prominent players that combine low cost and cutting-edge technology. Transparent ceramics are being used in a wide range of industries because of their reduced weight, improved visibility, and high durability.
The Transparent ceramics’ application range has expanded as a result of ongoing research and development activities by key stakeholders. Recent innovations have made it possible to shape ceramics into many shapes, including tubes and rods. The growing demand for transparent ceramics as an alternative to conventional glass technologies, the expansion of the optics and optoelectronic industries, increased efficiency, and rising defence spending are some of the other factors influencing the growth performance of the transparent ceramics market.
Defence and Aerospace sectors to boost the Transparent Ceramics market
In industries such as aerospace, defence, and military vehicles, there is a considerable rise in demand for transparent ceramics. The transparent ceramics market is projected to expand due to an increase in new aircraft production. Transparent ceramics can withstand temperatures significantly higher than those of high-grade technical plastics and are lighter than the majority of metals. Therefore, thermal protection systems in rocket exhaust cones, missile nose cones, insulation tiles for space shuttles, and engine components are some of the examples of structural ceramic applications. Due to their properties, including stiffness, high strength, and resistance to chemicals and heat, transparent ceramics, especially ceramic armors, are suitable for use in the defence and security industry.
Due to the increased demand for security around the world, the global military and security industry has been expanding recently. Defence spending has surged in countries like China, the US, Russia, and India. During the projected period, rising defence spending across the globe is anticipated to fuel the expansion of the transparent ceramics market. According to a research by the World Bank, China and India’s military expenditure surged from USD86.2362 billion and USD33.002 billion in 2008 to USD249.997 billion and USD66.51 billion in 2018 respectively, demonstrating growth rates of nearly 190% and 101%, respectively. Transparent ceramics are expected to have significant growth in the coming years due to their numerous advantages over other types of materials.
Key market developments
Advanced expansion activities, research and development, market investments, and mergers and acquisitions will thereby increase the demand for transparent ceramics. For instance,
The North American region is expected to hold a significant share of the market in the coming years.
Given the region’s significant expenditures on the military industry, North America had a significant share of the global market. This expansion is related to the presence of significant market participants as well as increasing regional defence R&D spending. Most of the product’s demand comes from this region as it is heavily used in the defence industry. Another factor is the region’s abundance of manufacturers, including Surmet Corporation and Coorstek Corporation. Due to its developed optoelectronics and defence industries, the United States held the greatest share of the North American transparent ceramics market. The United States spent roughly $55.4 billion on defence research and development in 2017, more than four times the total amount spent by the other OECD nations combined, according to Congressional Research Service agency. As a result, over the course of the forecast, North America is anticipated to expand significantly.
Global Transparent Ceramics Market Scope:
Farm Equipment Market Driven by Government Policies and Support
Thought ArticlesThe global farm equipment market is evaluated at US$89.225 billion for the year 2022 growing at a CAGR of 5.69% reaching the market size of US$131.481 billion by the year 2029.
Tools, machinery, and upkeep supplies made specifically for use on farms in conjunction with the production or processing of food resources for market usage are referred to as “farm equipment.” It comprises equipment for irrigation, haying, foraging, and harvesting. These implements help reduce labor requirements, improve crop quality, and shorten the time needed for agricultural work. Sprayers and self-propelled spreaders operate more swiftly and effectively while covering a larger area each day. These tools ensure that nutrients and safety measures are administered consistently, which helps to reduce overall costs and boost crop yields. There are numerous low-pressure, high-pressure, foggier, and air-carrying varieties of mechanical sprayers. These sprayers come in manual, tractor-mounted, and aerial designs. The towed or vehicle-mounted sprayers give the contemporary farmer various benefits, including more operating freedom.
Explore the Global Farm Equipment Market
This overview highlights key trends. Access our comprehensive report for detailed insights into market size, growth forecasts, and competitive dynamics in the global farm equipment industry.
Increasing government agriculture aid will drive the worldwide farm equipment industry
The agriculture industry has historically seen significant government intervention, maybe more than any other economically productive sector. Governments have historically taken this action because they wanted to guarantee a suitable level of farmer income as well as adequate and reasonably priced food supplies for their populations. According to the most recent edition of the OECD’s annual Agricultural Policy Monitoring and Evaluation report, released in June 2020, the support policies implemented by the 54 countries studied – all OECD and EU countries, as well as 12 key emerging economies – provided an average of USD 536 billion (EUR 469 billion) in direct support to farmers from 2017 to 2019. While these goals are still important today, many governments have expanded the scope of their policies to accomplish other objectives, such as supporting innovative and competitive industries as well as environmentally sound production systems that are more resistant to risks such as climate change. For instance, Farmers and growers in England can apply for up to £500,000 in Government funding to invest in cutting-edge robotics and technology to increase food output beginning in January 2022. Grants of up to £500,000 are available to invest in productivity-boosting equipment such as driverless tractors, harvesting, spraying, and harvesting robots, and automated milking systems. Additionally, the U.S. Department of Agriculture (USDA) will invest $300 million, including money from the American Rescue Plan, in a new organic transition initiative that will help create new and better markets and income streams for farmers and producers, according to information released in August 2022 by the Agriculture Secretary. The initiative will provide comprehensive technical support, including farmer-to-farmer mentoring, as well as immediate assistance in the form of financial assistance for conservation efforts and additional crop insurance assistance. It will also support market development initiatives in targeted markets.
Dive into the Precision Farming Market
Government support is fueling innovation in farming. Our Precision Farming Market report provides detailed insights into technologies like robotics and their impact on sustainable farming.
Technological progress will feed the world’s rising population
Globally, the market is gaining substantial traction as a result of the growing human population and the resultant requirement for higher production to meet the need for food. According to a United Nations report updated in December 2022, that provides new evidence that the world is moving further away from its goal of ending hunger, food insecurity, and malnutrition in all forms by 2030, the number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020. The market picture is being improved by the demand for premium packaged foods, the speeding up of industrialization, and the growing spending power of consumers. The demand for agricultural products is the main factor driving the demand for planting and fertilizing technology as opposed to manual planting and fertilizing methods. For example, Mahindra unveiled a new potato planter under its Farm Equipment Sector (FES) in September 2020. The latest sophisticated Precision Potato Planting machinery, known as the ‘PlantingMaster Potato Plus,’ was conceived and developed in partnership with Dewulf, a European partner. PlantingMaster Potato Plus, according to the Indian business, has been engineered to fit Indian farming conditions, offering increased yields and improved quality. Deere & Company also intends to introduce new fertilizer technologies and an electric excavator to assist clients in being more productive and sustainable. The new technologies were unveiled by the equipment business during its keynote talk at the CES 2023 event in January. Its ExactShot technology employs sensors and robotics to deposit starter fertilizer on seeds as they are planted in the soil, allowing farmers to save up to 60% on starter fertilizer during planting.
Analyze the Agricultural Robots Market
Technological advancements like precision planting are transforming agriculture. Explore our Agricultural Robots Market report for insights into robotics, automation, and market growth.
EV tractors are making their way into a sustainable farming sector
The tractor category accounts for the greatest revenue share, owing to a manpower shortage and a growing population to fulfill global food requirements, which has made tractors a requirement for enhancing agricultural output. Electric tractors are expected to be a big growth opportunity for market participants. The cost-effectiveness of electric tractors, together with their eco-friendliness and great efficiency, is attributed to the growth. For instance, the e70N tractor from electric tractor developer Solectrac went on sale in August 2021. As part of a grant from the Funding Agriculture Replacement Measures for Emission Reductions Demonstration Program of the Bay Area Air Quality Management District, Solectrac provided the 70-horsepower, diesel-equivalent tractors to three farms in Northern California (FARMER). Solectrac is a manufacturer of electric tractors that was established in Northern California to give farmers independence from the infrastructure, pollution, and price volatility brought on by fossil fuels.
Discover the Electric Tractors Market
Electric tractors are driving sustainable farming. Get our Electric Tractors Market report to explore growth opportunities, key players, and technological trends.
Go from Insight to Action with Our Market Research
You’ve seen the overview. Now, get the detailed data and strategic analysis you need to stay ahead in the agricultural equipment market. Explore our related, in-depth reports.
Each report includes comprehensive data, forecasts, and competitive analysis to empower your business decisions.
The Impact of Steel and Coal Production on the Dry Bulk Shipping Market
Thought ArticlesThe dry bulk shipping market was valued at US$343.483 billion in 2022 and is projected to expand at a CAGR of 7.85% over the forecast period to reach US$540.672 billion by 2028.
The most common bulk commodity is dry bulk. Iron and coal are the two major basic materials that are supplied in considerable quantities. Because of the significant rise in electricity consumption, both imports and exports of coal are in high demand. Iron demand has grown because of industrialization. Because marine transportation is the least cheap mode of transportation, demand for dry bulk shipping has increased. Considering the resources available, it is now possible to track the shipment of products across the globe by using the identification number supplied. These factors are anticipated to bring up new development opportunities for the dry bulk shipping business.
Get In-Depth Analysis of the Dry Bulk Shipping Market
This article provides an overview. Our full market report offers detailed data, competitive insights, and strategic analysis to navigate the global dry bulk shipping industry.
The market trend for dry bulk shipping has shifted dramatically as the shipment of steel and coal has increased. Furthermore, one of the primary drivers of dry bulk shipping market growth is the expansion in global seaborne trade.
Iron ore and coal demand has expanded because of growing industrialization and economic liberalization and is mostly met by industry through seaborne commerce. Coal and iron ore are among the most prevalent raw materials used in power generation and long-term infrastructure building. The large growth in demand for coal imports and exports has increased demand for coal exporters and importers. Such factors drive the dry bulk transport business. Fast economic expansion, population growth, rapid urbanization, and expanded steel production are all going to drive up demand for the transportation of various commodities used in various sectors.
Additionally, improvements in the system of supply chain management are hastening the automation of automobile production planning systems. Because maritime transport is the cheapest available mode of transportation, a rise in sea travel is expected to help the dry bulk shipping business. The worldwide dry bulk shipping sector is expected to be driven by increased technological improvements, such as the capacity to track shipping goods and identify individual components.
Explore the Global Iron Ore Mining Market
Iron ore is a key driver of the dry bulk shipping market. Get our in-depth report on the Global Iron Ore Mining Market to understand production trends, demand forecasts, and regional insights.
The growing coal and iron ore production will surge the demand for global dry bulk shipping market share during the projected period. Moreover, high demand for steel which in turn will positively influence the market size.
The primary drivers fueling the expansion of this market are rising trade volume and global demand for products such as iron ore and coal which has resulted in higher developments in dry bulk carriers in recent years. One of the primary reasons driving expansion in this industry is the increased global demand for coal. Because of its low cost and widespread availability, the utilization of coal as a source of energy has expanded dramatically in recent years. Furthermore, during the last decade, the worldwide seaborne iron ore trade has expanded substantially. In response to the country’s fast economic expansion, increased steel output, and worries about energy security, the government has implemented several programs to assure enough supply of iron ore for the country’s steel mills. These strategies involve import substitution as well as the expansion of native mining activities. The sheer volume of building activities in the commercial, domestic, and non-residential sectors fueled the need for steel. Because of the increased shipping of steel and coal, the share of the market for dry bulk shipping has changed significantly. Steel is in high demand due to an increase in infrastructure projects. As a result, producers use a variety of tactics and concepts to boost the value of their production to change consumers’ perceptions of the worth of their products. According to the World Steel Association, steel demand rose by 0.4% in 2022 to 1840.2 Mt. Steel consumption will increase by 2.2% in 2023, reaching 1 881.4 Mt. According to the same statistical source, China and India would be the top two leading countries in terms of steel output in 2020-21.
Analyze the Global Steel Market
Steel demand drives dry bulk shipping growth. Dive into our comprehensive report on the Global Steel Market for detailed insights on production, consumption, and regional trends.
The rising initiatives to incorporate various strategies by companies will propel the market to grow.
The companies launched various programs and signed partnership agreements which have resulted in the growth of the market’s profitability. For instance, RightShip launched a new initiative for the dry bulk industry in April 2020, to ensure the greatest standards of safety, security, and environmental excellence. The new Dry Bulk Management Standard (DBMS) intends to assist the advancement of security and risk management standards in dry bulk ship management, as well as to foster collaboration, dialogue, and higher standards in the industry. Similarly, Roger LLC (Roger) launched a new independent technology firm in April 2020 to provide digital solutions to carriers and shippers in the dry bulk shipping market. Roger gathered a group of dry bulk truck freight merchants that collaborated with more than 200 trucking businesses to build a platform available to shippers and carriers throughout the industry to decrease paperwork and achieve maximum transportation efficiency.
During the forecast period, the global dry bulk shipping markets in Asia Pacific are projected to have a substantial market share.
The global dry bulk shipping market is divided into five areas based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. During the forecast period, the Asia Pacific region is anticipated to hold the largest amount of market share in the next five years. Due to the increased industrialization and production of coal and iron ore in the region, the market is surging. Moreover, the growing population’s need for commodities would aid the expansion of the Asia Pacific region’s dry bulk shipping market over the forecast period. For instance, Safeen Feeders, a subsidiary of AD Ports Group, established a new global dry bulk shipping service in September 2022. It agreed to acquire and manage five dry-bulk boats for 126 million dollars with Invictus Investment. Invictus’ dry-bulk trading company presently transports over three million tonnes of goods every year, mostly wheat and supplementary grains. The partnership with Invictus has helped the company to own and manage five dry-bulk boats, expanding commercial transportation to the Red Sea, Pacific routes, and other locations. Therefore, such developments made, and market expansions initiated by companies will drive market growth for this region.
Global Dry Bulk Shipping Market Scope:
Go from Insight to Action with Our Market Research
You’ve seen the overview. Now, get the detailed data and strategic analysis you need to stay ahead in the dry bulk shipping market. Explore our related, in-depth reports.
Each report includes comprehensive data, forecasts, and competitive analysis to empower your business decisions.
Rising Demand from End-Use Industries to Drive Advanced Process Control Market
Thought ArticlesThe advanced process control market was valued at US$1,699.590 million for the year 2020 and is expected to grow at a CAGR of 8.36%, reaching a market size of US$2,981.447 million by the year 2027.
An advanced process control system is a combination of control systems and optimization technologies that are used by many sectors to increase production capacity, increase equipment dependability, cut down on power consumption, and speed up processes. The market for advanced process control includes APC software and associated services. The process industries make up the majority of the market for applications overall, where APC technologies are utilised to improve plant performance.
Advanced automation and process controls, together with rising user demand and the adoption of best practises to boost production and quality, have all contributed to the market for advanced process control (APC) seeing significant development. Another driver of market growth will be the increased emphasis on technical improvements together with the rising demand for energy-efficient production methods. Furthermore, the market will continue to grow due to growing industrialisation and increased awareness of the significance of regulatory compliance.
Increased focus on Energy Efficient Process in Industries to drive the market
Given the shifting operating circumstances, deteriorating equipment, shifting market conditions, and ineffective control strategies, the energy consumption of the majority of energy-intensive processes, such as those seen in refineries or petrochemical plants, is highly variable. As they lack the tools to gather and analyse real-time performance data, plants often use more energy than is necessary and are unable to increase efficiency. They can only access previous performance data instead, and they are unable to make corrections until it is too late. There are multiple ways for businesses to reduce their energy use, waste, and prices if they can precisely measure, analyze, estimate, and control their energy consumption. Energy-efficient process and equipment design is the first step in energy efficiency.
Using advanced process control and optimization, asset owners can better achieve their sustainability goals and objectives. For instance, as per a 2020 blog by Schneider Electric, Taiwan stakeholders running a top refinery have implemented a distinctive mix of advanced process control and artificial intelligence technology across crucial application domains like crude oil distillation in an effort to reduce costs. Schneider Electric and AVEVA provided an advanced process control system to the refinery to lower energy costs by reducing process variability and stabilising unit operations. Throughput improvements and annual energy savings of about $4.2 million US have been reported by plant operators. According to PI Process Control Solutions, a company that sells software and services for process control, depending on the process and ongoing operations, energy savings from the deployment of APC have been estimated to be in the range of 3% to 15%. Thus, rising consumer demand for energy-efficient production methods will become a key market growth driver.
Increased emphasis on Technical Improvements by industries to boost production and quality
The demand for high-quality goods across sectors, rising machine usage, and the integration of smart devices into machinery are all driving the growth of the APC market in the industrial automation sector. The goal of APC development and ongoing improvement is to raise product quality by enhancing the efficiency of production operations. For instance: in August 2022, one of India’s leading integrated pulp and paper producers, Andhra Paper Limited (APL), installed an ABB advanced process control (APC) solution at the lime kiln of their Rajahmundry mill. ABB has incorporated its OPT800 Lime APC solution into APL’s current ABB Ability System to assists in lowering the energy consumption of the highly dynamic lime kiln production process. OPT800 Lime relies on a model of the kiln processes at its core to precisely forecast the interactions between process variables and respond in real time to process modifications.
According to Honeywell, a company that also engages in selling software and services for process control, stated that Advanced Process Control programmes often result in a 1%–1% production improvement. APC debottlenecks the process, or a portion of it, assists in lowering the process’ variability and working closer to its limits, enabling higher production rates. It’s crucial to lessen quality variation in the finished product. The same source also states that the use of Advanced Process Control has led many businesses to report a standard deviation of product quality decrease of up to 50%.
North America to hold a major share due to Strong adaptation in the Oil and Gas and energy industries
APC systems are expected to grow in North America due to the construction of new power plants, the presence of significant semiconductor manufacturing enterprises, and the demand for industrial automation. A robust market for advanced process control solutions has developed in this region as a result of the early adoption of automation throughout end-use sectors in countries like the United States and Canada. The demand for APC systems for environmentally friendly manufacturing processes is increasing because of significant R&D expenditure and strict environmental restrictions. The US is going through an energy transition. The drilling and fracturing of shale formations, combined with technological advancements in hydraulics, has enhanced oil and gas output. The country also generates the most nuclear electricity and has the largest operating nuclear power capacity in the world. As of 2021, there were 93 commercial nuclear reactors in the US operating in 55 nuclear power plants spread throughout 28 states, according to the US Energy Information Administration. The North America Advanced Process Control market will expand over the course of the forecast period as a result of rising E&P operations in the region’s oil and gas sector.
High implementation Cost and time to restrain the growth of the Advanced Process control market
The market’s potential growth would be constrained by expensive R&D and initial investment costs. The high initial cost of the technology and the expense of implementation could limit the market’s expansion. Establishing an APC system often costs hundreds of thousands of dollars for many businesses. Small businesses’ reluctance to move from old methods to improved process controls due to a lack of financing would limit the market’s growth even more. It can take a long time and be expensive to implement an APC solution. Preconditioning and testing, model creation, controller integration, and commissioning are a few of the time-consuming procedures that are often involved in implementation. These factors are likely to act as obstacles for the market growth.
Advanced Process Control Market Scope:
Computer Graphics Capturing the Entertainment Industry
BlogThe computer graphics market is expected to grow at a CAGR of 6.47%, reaching a market size of US$45.436 billion in 2030 from US$30.463 billion in 2025.
Graphics refers to anything that can be represented visually or graphically. GPU designs, user interface design, 3D modelling, and computer vision are all aspects of computer graphics. Often, rather than using images, visuals are misconstrued using sounds and phrases that also include letters and numbers. Images that are displayed on screens, as well as graphics that are created and altered by computers, are the main components of computer graphics. They are either two-dimensional (2D) or three-dimensional (3D). Before, computers could only produce a limited number of 2-dimensional images, but now the computer graphics market is being driven by advances and developments in technology. A personal computer or desktop is the primary requirement for accomplishing this, and in addition, new, specialised software, some hardware, and other elements are required for these visuals.
Unlock the Full Potential of the Computer Graphics Market
This overview provides a snapshot of the market’s growth. Dive into our comprehensive report for detailed insights, competitive analysis, and strategic forecasts to stay ahead in the computer graphics industry.
The substantial rise in smartphone adoption worldwide and the rapid expansion of the IT sector are credited with the surge. In addition, more and more industries are demonstrating a preference for the implementation of automation technologies, largely to increase production and efficiency. As a result, more computer systems will be needed to run automated solutions like robotics, machines, and analytical tools, among others. This is one of the main drivers fueling the expansion of the computer graphics market. Additionally, the worldwide increase in gamers and the development of 3D and 4D technologies are some other elements that will support the demand for computer graphics solutions in the years to come. Furthermore, a significant factor that is anticipated to fuel market expansion is the rising need for computer graphics in the entertainment sector.
The adoption of computer graphics in the gaming and entertainment industries will fuel market expansion
The entertainment and media sectors’ increasing use of image processing and 3D animation techniques is boosting the market for computer graphics. The nature of computer graphics has changed significantly in recent years, and these new developments have swiftly altered the market. Computer graphics are being used in filmmaking for a wide range of purposes, including character creation, the inclusion of special effects, etc. Another major factor that is predicted to increase demand for computer graphics in the entertainment industry for the construction of fully functional imagery models is advancements in computer technology.
Online gaming has become more accessible and popular as smartphones and tablets have become more common. With the rise of this trend came an enormous number of free video games, creating a brand-new market for individuals in the computer graphics sector. The market for computer graphics games is becoming more and more popular because of the development of VFX technology as well as the growing need for live experiences of places and events. Additionally, in order to increase the variety of games offered on the market, independent game makers are teaming up with bigger entertainment companies. For instance, in May 2022, three new Radeon RX 6000 Series graphics cards from AMD were launched, along with the first games that would support AMD FidelityFX Super Resolution 2.0. In comparison to previous-generation products, these three revised versions offered faster game clocks, faster GDDR6 memory, and improved software and firmware. They also provided remarkable performance-per-watt based on AMD RDNATM 2 technology. Thus, due to the growing use of computer graphics in the entertainment sector, the market for computer graphics is anticipated to expand.
Explore the 3D Motion Capture System Market
Advancements in 3D motion capture are revolutionizing computer graphics applications. Get our in-depth report on the 3D Motion Capture System Market to uncover trends, applications, and growth opportunities.
Key market developments
New partnerships and collaborations, innovative product offerings, research and development, and market investments will thereby increase the demand for computer graphics. For instance,
The North America region is expected to hold a significant share of the market in the coming years
North America is predicted to be the most lucrative region in terms of market share. A number of companies, including Autodesk Inc., Adobe Systems Inc., Siemens PLM Software, Microsoft Corporation, and others, are major suppliers of computer graphics hardware components and application software in the area. This is because there are several visual effects (VFX) businesses in the area, including some of the best ones, such as Walt Disney Animation Studios, DreamWorks Animation, Warner Bros. Animation, and Industrial Light & Magic. Due to ongoing developments in the fields of movies, streaming material, television and advertising, broadcasting, music, radio and audio recordings, video games, book publishing, and others, the media and entertainment business is expanding significantly across the United States. These factors are likely to increase the demand for Computer graphics in the region.
Stay Ahead with Our Comprehensive Market Research
You’ve explored the basics of the computer graphics market. Now, access detailed data and strategic analysis to lead in the gaming, entertainment, and technology sectors. Discover our related reports.
Each report offers comprehensive data, forecasts, and competitive analysis to empower your business decisions.
The Access Control Market – Modified and Enhanced Product Offerings by Global Companies
Thought ArticlesThe access control market is estimated at US$6.637 billion for 2020, growing at a CAGR of 7.52% to reach a market size of US$11.029 billion by 2027.
As digital technology has advanced, it has become increasingly challenging for organizations to function in an environment exposed to malware assaults. All contemporary businesses must secure their physical and intellectual property assets, as well as the security of their employees, by restricting the movement of individuals according to predefined regulations. One of the key elements driving the increased need for access control systems is the growing necessity for protecting today’s corporate landscape. With so much data being created through different digital platforms, it has become a precious resource, and hackers are eager to monetize it to gain money and conduct fraud. The usage of access control systems offers protection for both employers and workers by safeguarding personnel from any potential events that may occur at the workplace or elsewhere. The system also has a log-keeping feature, which increases responsibility. The installation of access control systems helps to increase the safety and security of workplace environments. Therefore, this is one of the primary reasons that is contributing to the market’s growth for the upcoming years.
Vanderbilt Industries, Gemalto NV, Honeywell International Inc, IDEMIA, Matrix Comsec Pvt. Ltd., Brady Corporation, Tyco International, Protection One, NEC Corporation, Siemens, Hangzhou Hikvision Digital Technology Co., Ltd., HID Global Corporation, and others are a few key major players in the access control market.
Honeywell International Inc is a publicly listed American multinational firm based in Charlotte, North Carolina. Its primary business lines include aircraft, building technologies, specialty materials and technology, and security and productivity solutions. Honeywell showcased its finest fire and security products at the ISC West 2019 exhibit in April 2019. OmniAssure Touch, a new line of access control readers, is interoperable with Honeywell’s existing security suites, which include WIN-PAK, WINMAG, and Pro-Watch. The firm is committed to developing life safety technologies that employ connectivity to help build a smarter and safer society. Furthermore, Honeywell announced the release of MPA2 and MPA1, access control panels with cloud, web-based, or on-premises hosting options, in February 2021, to expand the functionality of its MAXPRO Cloud portfolio.
Gemalto NV, is a global digital security firm that offers application software, protects private devices including smart cards and credentials, and professional services. It is headquartered in Amsterdam, Netherlands. Furthermore, Thales acquired the worldwide security business Gemalto in early 2019 and integrated it with its current digital assets to form a new pioneer in digital security. Thales introduced CipherTrust Manager, a rebranded version of Next Generation KeySecure, in July 2020. CipherTrust Manager enables enterprises to manage data encryption lifecycles and policies centrally, regardless of where the data sits, and assists them in meeting data privacy and compliance standards. All access control and encryption operations are subject to role-based access restriction.
NEC Corporation based in Minato, Tokyo, is a Japanese multinational electronics and information technology corporation. NEC Corporation of America, a global tech integrator of sophisticated IT, communications, connectivity, and biometric modalities solutions, announced the formation of NEC National Security Systems, Inc. It is a completely owned subsidiary of NEC that solves challenges and creates opportunities for public officials and people by utilizing world-class technology. Moreover, identity and biometric technology, artificial intelligence, and machine learning are among the solutions that are transforming the way government does operations. Based on an established Special Security Agreement with the American Government, NEC NSS is established as a Foreign Ownership, Control, or Influence (FOCI)-restricted subsidiary. It will offer biometric software and hardware as part of integrated solutions for global defense, intelligence, defense, immigration, and law enforcement. The Department of Homeland Security, the Department of Justice, the Department of State, the Department of Defense, and the United States intelligence community are the primary clients of NEC NSS.
Access Control Market Scope:
Innovations in Solar Panel Recycling Technology: Path to Sustainability
BlogSolar panel recycling is widely used in the process of reducing harmful impacts on the environment and providing a sustainable future. These solar panels are used in different commercial and residential areas to provide clean and sustainable energy through this advanced renewable energy resource. The need for recycling these solar panels is growing with the widespread adoption of these solar renewable energy resources across the globe. When the solar panels are recycled they can be reused by these commercial and residential end-users to get clean energy rather than increase waste by not recycling these solar panels which can increase the harmful impact on the environment.
These solar panel recycling process or services is widely adopted by several clean energy providers that manufacture these solar panels to recycle and reuse these solar panels and save the harmful impact on the environment. The recycling process of these solar panels includes removing of junction box and frame while using chemical, thermal, or mechanical processes to separate the silicon wafer and the glass. Then after separating by the use of several different electrical and chemical techniques the purification is done for silicon cells as well as for special metals like copper, silver, and lead. This whole process makes the discarded and already used solar panels ready to be used as a clean energy resource in different commercial and residential areas.
Global Production Trends
The production of solar panel recycling has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand due to rising environmental concerns. For instance, factors such as rapid growth and popularity in the clean energy industry that needs effective recycling options for these different renewable energy resources such as solar panels to make the environmental conditions more clean and sustainable are making several clean or renewable energy manufacturers adopt these solar panel recycling into their devices to grow the sales.
In recent years, there has been a notable increase in the production of solar panel recycling techniques and services in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in the renewable energy industry that includes solar energy or solar panels that require effective and reliable recycling techniques to attract customers to buy their solar panels to reduce their cost and achieve sustainability. These solar panel recycling have a diverse set of applications for different commercial users and residential users as well which is why several governments across the globe are heavily investing in research and developing effective and reliable recycling techniques for these solar panel recycling which has significantly grown their production globally.
Solar panel recycling use case
The use of solar panels in different industry verticals is a huge trend in the market these days as people are switching over to more efficient options for clean energy and achieving a sustainable future with the use of renewable energy resources like solar panels and then again recycle them to reduce the waste that can negatively impact the environment. Renewable energy resources such as solar panels or wind turbines are one of the fastest-growing segments of the renewable energy market among all the others, therefore, different end-users and other industries like commercial offices are using these solar panels to use clean and green energy.
These solar panels can be recycled by these different commercial end-users when they are outdated or not working properly. The growing recycling of these solar panels results in less waste that is caused by them and makes a step forward towards achieving sustainability by recycling and reusing these solar panels. Therefore, the growing adoption of these solar panels and awareness about recycling and reusing them is increasing the use cases for these solar panel recycling.
The growth in the applications of solar panel recycling in achieving sustainability worldwide has made the production and development of techniques and devices necessary for recycling these solar panels much more prominent and increased in numbers over the years as renewable energy resources like solar energy are growing in demand rapidly. The need for suitable recycling techniques for achieving sustainability and a green future is growing in demand which is why these are being adopted by different clean energy resource manufacturers which has further increased the use case for these solar panel recycling among the different end-users.
The growing environmental concerns have led to significant growth in the investments made by governments across the globe towards different renewable energy resources and recycling techniques. This has made different research and development centers get proper funding to experiment and create effective and reliable recycling techniques for these solar panels that can reduce the harmful impact on the environment as well as achieve sustainability.
The growing investments and adoption of solar panel technology are resulting in increasing the use cases for solar panel recycling. The more these solar panels are used the need for recycling the decommissioned or used solar panels will increase proportionally. For instance, in the United States, the use of solar panels in the utility sector was at 116,856.8 MWdc capacity and the residential sector was at 36,268.2 MWdc capacity in the year 2023.
Figure 1: Segmentation of the United States solar Installations in the Year 2023 (in Megawatts Direct Current)
Source: seia.org
Market Dynamics and Drivers
Several factors drive the solar panel recycling market, including a rise in applications for them across different industrial applications like commercial and residential areas in recent times coupled with the rise in demand for sustainable and reliable energy resources among the general public. The growing environmental concerns like global warming and climate change are the significant factors that are raising awareness among the general public and governments to adopt recycling methods for these solar panels to reduce any harmful waste that may be produced by the waste of used and decommissioned solar panels. The growing investments in research and development of new and effective recycling techniques and spreading awareness about clean energy solar energy panels are significantly fueling the solar panel recycling market over the forecast period.
The development and innovation in different solar panel recycling techniques made for recycling new and innovative solar panels across the globe is one of the growth factors in the solar panel recycling market. The use of innovative recycling techniques in the solar energy industry is significantly impacting the demand for solar panel recycling in the market. This happens because the more people adopt and use solar panels globally the more the need and demand for effective solar panel recycling services will increase across the globe.
The growing global demand and installation of these solar panels are one of the key factors that is growing the demand for suitable recycling services for these solar panels to reduce waste and achieve sustainability. The reduced prices of these solar panels are leading to their widespread adoption which in turn will increase demand for these solar panel recycling globally. For instance, in the United States, the cost of solar installation has dropped by 40% over the last 10 years. Also, the growing global adoption of solar energy is expected to significantly boost the market for solar panel recycling over the forecast period. For instance, the global solar deployment was estimated at 350 GWdc and is anticipated to reach 590 GWdc by the year 2027.
Figure 2: Growth in Global Solar Deployment, From the Year 2023-27 (in Gigawatts Direct Current)
Source: energy.gov
Key Developments
In conclusion, the solar panel recycling market presents significant opportunities for growth and innovation, driven by the increasing popularity of sustainable and renewable energy resources around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments for research and development for new and innovative solar panel recycling solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for solar panel recycling.