The Spray Adhesive Market was valued at US$3.816 billion in 2020 and is expected to grow at a CAGR of 7.51% to reach a market size of US$6.334 billion in 2027.
Spray adhesives are multipurpose adhesives that are applied to a surface from a pressurised container. As they withstand moisture and heat while establishing a solid, long-lasting bond, spray adhesives are appropriate for a variety of applications, including automotive, building and construction, leather and footwear, paper and packaging, and others. In addition to these, spray adhesive can also be used on carpets, foam, assembly lines, and plastics. The increased use of spray adhesive across a variety of end-user industries, with the most demand coming from sectors like construction, packaging, and automobiles and transportation, among others, is responsible for the market’s rapid growth. Additionally, the growing involvement of market participants in the form of partnerships and product launches to further spread the adoption of the spray adhesive and improve their market share is bolstering the market’s growth prospects during the course of the forecast period. The market is expected to be retained by the volatility of the raw material prices.
The growing packaging industry is expected to boost the Spray Adhesive market growth potential
The demand for spray adhesive is expected to rise as it is increasingly used in packaging materials like labels, tapes, and envelopes. Future growth in the market for spray adhesives is anticipated to be driven by rising consumer demand for hygienic food packaging. The demand for a wide range of consumer goods, including food and beverages, electronics, sanitary items, and personal care products, among others, is driving current changes in the packaging sector. Due to the growing disposable income of the middle-class and low-income population and their increased tendency to spend in developing nations like China, India, and Brazil, this demand is accelerating. In addition, the expansion of online retail outlets due to their attractive discounts and convenience is contributing to this growing demand. This is due to the rising sales of goods through e-commerce channels.
Furthermore, the e-commerce players’ aim to maximise their profits as well as acquire a competitive edge over their rivals is also responsible for this rising adoption. As a result, this component is boosting the market’s expansion during the forecasted period. Additionally, it is crucial to make sure that the quality and finish of the finished product depend on the adhesives in order to guarantee their efficacy in serving a variety of applications in different industries.
The market players are actively engaged in the market through investments and the introduction of new products with the goal of improving the efficacy and efficiency of spray adhesive products in order to address these issues. For instance, 3MSuper 77 Multipurpose Spray Adhesive can be used on plastic, cardboard, Bonds paper, insulation, fabric, metal, and wood, which are the materials generally used by the packaging industry.
Growing construction industry demands for spray adhesives
The main factor driving up demand for spray adhesives in the global market is the rapid expansion of the building and construction sectors, particularly in emerging economies. The product is used to glue fibreglass, drywall, plaster, and ceiling inserts. The construction industry is expanding globally as a result of rising disposable income and expanding government programmes to support residential construction and infrastructure development. One of the main factors boosting demand for spray adhesives for the construction sector will be the improved economic conditions in many regions of the world. For instance, the US Department of Commerce reports that the total value of buildings in the US—public and private—for both the residential and non-residential sectors has climbed from USD788,332 million in 2011 to USD1,303,469 million by 2019.
Spray adhesives are used in the construction industry for flooring, roofing, and insulation. In new and re-roof applications, spray adhesives may adhere a range of roof-building materials to many different roof substrates. Additionally, they can be used to bind board stocks with one another. Spray adhesives are used in flooring applications to attach rubber floor tiles, carpets, and carpet tiles to the floor. Spray adhesives are used in the application of insulation to join insulation materials like expanded polystyrene foam, fibreglass, and extruded polystyrene foam. For instance, 3M launched Hi-Strength 90 Spray Adhesive in April 2021. Spray adhesive has been proven to be effective for both big and small projects, from construction to crafts. It also offers professional and industrial strength for demanding applications.
Additionally, as more green buildings are constructed, there is a growth in demand for water-based spray adhesives because they are environmentally benign and contain little to no volatile organic compounds (VOCs). These factors are expected to boost the demand for spray adhesives in the construction industry.
Asia-Pacific is expected to hold a major share due to increased automobile production and construction activities
In 2020, the Asia-Pacific region accounted for a sizeable portion of the global spray adhesives market, and it is anticipated that it will continue to expand at a healthy rate over the coming years. This expansion is linked to the existence of significant market participants as well as the region’s well-established steel sector. Due to rising demand from numerous applications, including building and construction, automotive, paper, and packaging, Asia-Pacific is anticipated to grow at the quickest rate during the forecast period. Because of a growth in auto sales and manufacturing, demand for spray adhesive is anticipated to expand in developing nations like Vietnam, China, and India.
Due to the rising automotive and construction sectors in developing nations like China and India, the spray adhesive market in the Asia-Pacific region is predicted to experience exponential expansion. For instance, as per the International Organization of Motor Vehicle Manufacturers, the number of automobiles produced in India went from 3,898.425 million in 2013 to 5,174.645 million in 2018. Furthermore, the easy accessibility of raw materials, the comparatively low cost of labour, and the use of innovative development methods by the leading players are contributing to the expansion of the regional market.
Highly Volatile raw material prices and adverse environmental impact to restrain the growth of Spray Adhesive market
The cost of raw materials used to produce spray adhesives is being impacted by the rising price of crude oil in the global market. Prices for adhesive raw materials are more affected by fluctuations in supply and demand across the supply chain. In addition, the cost of basic intermediates and chemicals has increased dramatically, and there is a high demand worldwide and a restricted supply of raw ingredients for adhesives. Due to a lack of shipping containers, logistics costs have skyrocketed, and firms constantly deal with supply chain issues. These elements are hindering the worldwide spray adhesives market’s revenue growth and adversely hurting manufacturers’ profitability. Considering epoxy resin is a petroleum derivative, it is frequently employed in the industry and its costs are quite volatile. Along with problems with price instability, solvent-based adhesives’ high VOC emissions are impeding market expansion.
Spray Adhesive Market Scope:
| Report Metric |
Details |
| Market Size Value in 2020 |
US$3.816 billion |
| Market Size Value in 2027 |
US$6.334 billion |
| Growth Rate |
CAGR of 7.51% from 2020 to 2027 |
| Base Year |
2020 |
| Forecast Period |
2022–2027 |
| Forecast Unit (Value) |
USD Billion |
| Segments Covered |
Type, End User, And Geography |
| Regions Covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered |
Phillips MFG, Asbury Carbons, GrafTech International, Mitsubishi Chemical Corporation, SojitzJECT Corporation, Indian Oil Corporation, 3M, Sumitomo Corporation, Open Corporation |
| Customization Scope |
Free report customization with purchase |
Spray Adhesive Market Driven by Growing Construction and Packaging Industries
Thought ArticlesThe Spray Adhesive Market was valued at US$3.816 billion in 2020 and is expected to grow at a CAGR of 7.51% to reach a market size of US$6.334 billion in 2027.
Spray adhesives are multipurpose adhesives that are applied to a surface from a pressurised container. As they withstand moisture and heat while establishing a solid, long-lasting bond, spray adhesives are appropriate for a variety of applications, including automotive, building and construction, leather and footwear, paper and packaging, and others. In addition to these, spray adhesive can also be used on carpets, foam, assembly lines, and plastics. The increased use of spray adhesive across a variety of end-user industries, with the most demand coming from sectors like construction, packaging, and automobiles and transportation, among others, is responsible for the market’s rapid growth. Additionally, the growing involvement of market participants in the form of partnerships and product launches to further spread the adoption of the spray adhesive and improve their market share is bolstering the market’s growth prospects during the course of the forecast period. The market is expected to be retained by the volatility of the raw material prices.
The growing packaging industry is expected to boost the Spray Adhesive market growth potential
The demand for spray adhesive is expected to rise as it is increasingly used in packaging materials like labels, tapes, and envelopes. Future growth in the market for spray adhesives is anticipated to be driven by rising consumer demand for hygienic food packaging. The demand for a wide range of consumer goods, including food and beverages, electronics, sanitary items, and personal care products, among others, is driving current changes in the packaging sector. Due to the growing disposable income of the middle-class and low-income population and their increased tendency to spend in developing nations like China, India, and Brazil, this demand is accelerating. In addition, the expansion of online retail outlets due to their attractive discounts and convenience is contributing to this growing demand. This is due to the rising sales of goods through e-commerce channels.
Furthermore, the e-commerce players’ aim to maximise their profits as well as acquire a competitive edge over their rivals is also responsible for this rising adoption. As a result, this component is boosting the market’s expansion during the forecasted period. Additionally, it is crucial to make sure that the quality and finish of the finished product depend on the adhesives in order to guarantee their efficacy in serving a variety of applications in different industries.
The market players are actively engaged in the market through investments and the introduction of new products with the goal of improving the efficacy and efficiency of spray adhesive products in order to address these issues. For instance, 3MSuper 77 Multipurpose Spray Adhesive can be used on plastic, cardboard, Bonds paper, insulation, fabric, metal, and wood, which are the materials generally used by the packaging industry.
Growing construction industry demands for spray adhesives
The main factor driving up demand for spray adhesives in the global market is the rapid expansion of the building and construction sectors, particularly in emerging economies. The product is used to glue fibreglass, drywall, plaster, and ceiling inserts. The construction industry is expanding globally as a result of rising disposable income and expanding government programmes to support residential construction and infrastructure development. One of the main factors boosting demand for spray adhesives for the construction sector will be the improved economic conditions in many regions of the world. For instance, the US Department of Commerce reports that the total value of buildings in the US—public and private—for both the residential and non-residential sectors has climbed from USD788,332 million in 2011 to USD1,303,469 million by 2019.
Spray adhesives are used in the construction industry for flooring, roofing, and insulation. In new and re-roof applications, spray adhesives may adhere a range of roof-building materials to many different roof substrates. Additionally, they can be used to bind board stocks with one another. Spray adhesives are used in flooring applications to attach rubber floor tiles, carpets, and carpet tiles to the floor. Spray adhesives are used in the application of insulation to join insulation materials like expanded polystyrene foam, fibreglass, and extruded polystyrene foam. For instance, 3M launched Hi-Strength 90 Spray Adhesive in April 2021. Spray adhesive has been proven to be effective for both big and small projects, from construction to crafts. It also offers professional and industrial strength for demanding applications.
Additionally, as more green buildings are constructed, there is a growth in demand for water-based spray adhesives because they are environmentally benign and contain little to no volatile organic compounds (VOCs). These factors are expected to boost the demand for spray adhesives in the construction industry.
Asia-Pacific is expected to hold a major share due to increased automobile production and construction activities
In 2020, the Asia-Pacific region accounted for a sizeable portion of the global spray adhesives market, and it is anticipated that it will continue to expand at a healthy rate over the coming years. This expansion is linked to the existence of significant market participants as well as the region’s well-established steel sector. Due to rising demand from numerous applications, including building and construction, automotive, paper, and packaging, Asia-Pacific is anticipated to grow at the quickest rate during the forecast period. Because of a growth in auto sales and manufacturing, demand for spray adhesive is anticipated to expand in developing nations like Vietnam, China, and India.
Due to the rising automotive and construction sectors in developing nations like China and India, the spray adhesive market in the Asia-Pacific region is predicted to experience exponential expansion. For instance, as per the International Organization of Motor Vehicle Manufacturers, the number of automobiles produced in India went from 3,898.425 million in 2013 to 5,174.645 million in 2018. Furthermore, the easy accessibility of raw materials, the comparatively low cost of labour, and the use of innovative development methods by the leading players are contributing to the expansion of the regional market.
Highly Volatile raw material prices and adverse environmental impact to restrain the growth of Spray Adhesive market
The cost of raw materials used to produce spray adhesives is being impacted by the rising price of crude oil in the global market. Prices for adhesive raw materials are more affected by fluctuations in supply and demand across the supply chain. In addition, the cost of basic intermediates and chemicals has increased dramatically, and there is a high demand worldwide and a restricted supply of raw ingredients for adhesives. Due to a lack of shipping containers, logistics costs have skyrocketed, and firms constantly deal with supply chain issues. These elements are hindering the worldwide spray adhesives market’s revenue growth and adversely hurting manufacturers’ profitability. Considering epoxy resin is a petroleum derivative, it is frequently employed in the industry and its costs are quite volatile. Along with problems with price instability, solvent-based adhesives’ high VOC emissions are impeding market expansion.
Spray Adhesive Market Scope:
Structural Adhesives Comes in Handy for Product Manufacturers
BlogThe structural adhesives market is projected to grow at a CAGR of 4.47% during the forecast period to reach US$11.798 billion by 2027, from US$8.689 billion in 2020.
The structural adhesive is used to bond a joint and has the capability of holding two or more substrates together under stress. The failure of these joints could have disastrous effects on the product’s structure and functionality, making them the most crucial bonds in a product. A correctly applied structural adhesive should keep a product securely attached when it is subjected to vibration, shock, chemicals, temperature changes, or other forms of weakening or destructive agents within predetermined tolerance levels. These substances are capable of binding two or more surfaces together over the product’s lifespan. The structural adhesives can be subjected to stress, chemical exposure, heavy vibrations, temperature changes, and several other destructive forces. Furthermore, structural adhesives have several benefits over conventional fastening techniques, which include better stress distribution as the structural adhesives help in force disbursement over the bond line which creates a stronger assembly.
The growth of the structural adhesive market can be mainly attributed to the increasing adaptation in Automotive industry coupled with the benefits offered by structural adhesives.
The market is expanding due to the development of light commercial vehicles, cutting-edge passenger automobiles, and new aircraft with high consumption of composite materials. Furthermore, more uses of lightweight materials with high-performance benefits in automobiles are projected to drive the market. The market for adhesives and composites is rising despite severe competition from substitute materials, especially in applications that require high performance, weight savings, and other benefits including fuel efficiency. Moreover, the advantages of structural adhesives include easy joining of complicated shapes and cost-effectiveness due to reduced material costs, and process time. As a result, it is expected that the market for structural adhesives will experience significant growth during the forecast period.
Furthermore, the growing automotive industry is expected to propel the market for structural adhesives in the forthcoming years. Owing to the growing dependency on high and ultrahigh-strength steels and aluminum for body structures, notably used in bodies-in-white (BIW), to reduce weight without losing crash-mitigation strength. Moreover, these structural adhesives are available in varying chemistries and formats which can be used in multiple areas of vehicles. For instance, an American multinational conglomerate operating in the fields of industry, worker safety, healthcare, and consumer goods, the 3M offers liquid structural adhesives as well as Structural adhesive tapes for clean, simple, and quick structural joining of BIW. The company claims that their 3M Structural Adhesive Tapes cure in standard e-coat ovens and expand to fill gaps, which allows the prevention of corrosion of all types.
The Epoxy structural adhesive will have a significant share during the study period
By Type, the structural adhesive market is divided into Epoxy, urethanes, acrylics, methyl methacrylate, and others. The segment’s growth is expected to be aided by the lucrative growth of epoxy during the forecast period. The growth of epoxy structural adhesives can be traced back to its high bonding strength in several end-use applications like aerospace, industrial, and automotive among others. Furthermore, epoxy-based structural adhesives are largely utilized in aluminum structures because they can withstand vibration. Moreover, the benefits of structural epoxy adhesives for automation applications are bolstering the growth of this market segment. The benefits include uniform stress distribution, larger stress-bearing, gap-filling, improved energy efficiency, and easy automatable applications among others. Furthermore, the end-user can also benefit from the low cost and increased productivity of epoxy adhesives for automotive applications. These numerous benefits of using epoxy structural adhesives are expected to propel the market for structural adhesives during the forecast period.
The structural adhesive market for the automotive segment is expected to grow at a significant rate during the anticipated period.
Based on industry verticals the market of structural adhesives is segmented into automotive, construction, energy and power, aerospace and defense, consumer electronics, and others. In order to make cars lighter, structural adhesives were launched as a low-volume substitute in the automotive sector. However, after realizing its potential, the auto industry began utilizing it for mass production. Moreover, it is anticipated that in the upcoming years, the use of composite materials will increase, there will be a need for environmentally safe, long-lasting, and non-hazardous structural adhesives, and there will be a demand for lightweight, low-emission vehicles and aircraft, all of which are anticipated to drive the demand for structural adhesives.
According to analysts, the Asia-Pacific region is expected to occupy the dominant share of the structural adhesive market in the upcoming years.
Based on Geography, the structural adhesive market is divided into North America, South America, Europe, and the Asia Pacific. According to analysts, the Asia-Pacific region holds the biggest market share. The market growth can be largely attributed to the increasing adaptation of adhesives in automotive technology and industrial manufacturing in this region. The global structural adhesive market share was dominated by the Asia-Pacific region. One of the biggest markets for structural adhesives worldwide is China. China’s Five-Year Plan, which was released in January 2022, projects that the country’s construction industry will rise by about 6% in 2022. To reduce waste and pollution from construction sites, China intends to promote the production of prefabricated structures. Moreover, the rapid industrial development and the growing manufacturing sectors, and an increase in the number of applications for structural adhesives are some major drivers of the market in the Asia-Pacific region. Other prominent sectors that use structural adhesives include the automotive and aerospace industries. OICA estimates that 4,399,112 automobiles were produced in 2021, a 30% increase over the 3,381,819 automobiles produced in 2020. Overall, over the course of the forecast period, all of these factors are anticipated to have an impact on the demand for structural adhesives in the Asia-Pacific region.
The North American region is expected to register the second higher growth in the structural adhesive market during the forecast period. Even though the markets in North America and Europe are mature, technical advancements in high-growth industries, such as sporting goods and medical applications, are anticipated to propel the market at a very high rate throughout the projected period.
Structural Adhesives Market Scope:
Beyond Limits: How Supercomputers are Transforming Science and Technology
BlogSupercomputers are a type of mechanical device that can be used in a wide range of real-life applications to solve complex problems that may take a huge time to solve by a normal device in very little time. These supercomputers consist of several CPUs or central processing units coupled with high-specification microprocessors that significantly improve the overall power and performance of these supercomputers to handle large quantities of data and solve complex problems quickly. These supercomputers are interconnected with a huge amount of other similar nodes that keep them updated about new data that has been added and if there are any changes in the current data stored at multiple nodes simultaneously.
These supercomputers were first created in the year 1960 by US scientists and researchers and this project was heavily funded by the US government. The main role of these supercomputers was to enhance the US military power using the benefits of these supercomputers. These supercomputers were used for running complex simulations and real-time problems faced by the military to enhance their weapons and strategy which can further improve their overall power and dominance.
There are other wide range of applications too in recent times for supercomputers such as the data-driven enterprises that need huge amounts of data to be handled across the globe and need advanced decision-making using that data to improve the business done by the use of these supercomputers. Also, some industries such as BFSI or defense need high computing power to enhance the efficiency and smooth functioning of these organizations.
Global Production Trends
The production of supercomputers 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 data-driven industries such as Instagram and Facebook need a supercomputer to handle the large quantities of user data and make quick decisions based on evaluating that data daily. Also, the handling of large amounts of data that these enterprises rely on significantly not only requires high processing powers using multiple GPUs or CPUs but also, they need high-speed internet connectivity to efficiently communicate and handle the data accordingly. These factors have significantly contributed to growing supercomputer production globally.
In recent years, there has been a notable increase in the production of supercomputers in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in cloud computing technology that require supercomputers with high speed and computing power to handle the large volume of data stored in cloud servers effectively.
These supercomputers have a diverse set of applications in end-user industries from military & defense to space and rocket research centers and can cater to all their needs according to their technology, for instance, the supercomputers used in space or rocket research centers like NASA or National Aeronautics and Space Administration these days comes with a wide variety of features according to the needs of the researcher. They use these supercomputers to conduct deep and thorough research on the different planets they send rockets and spaceships to analyze different resources and environmental conditions. Also, they build rockets in these organizations which is a very complex process, and need to run complex simulations on these supercomputers before the launch of these rockets to avoid any failures at the time of the actual launch.
The use of these supercomputers requires high-speed internet connectivity and with the significant growth made in the field of 5G technology in recent times which has significantly improved the bandwidth and speed of the internet globally has influenced the production of supercomputers.
Supercomputers use case
The use of supercomputers in different industry verticals is a huge trend in the market these days as different industries are switching over to more efficient options for smooth functioning and creating powerful and fast processing computers for enterprises to handle large amounts of data while making quick complex decisions using these high-power supercomputers for different industry verticals and making the day-to-day operation of these enterprises easy to operate and function smoothly.
These supercomputers are widely used in different industry verticals including several industries that are heavily data-driven and rely on deep analysis of the data using the supercomputers to gain useful insights. The weather forecast and climate predictions are one such example for these data-driven industries that use the supercomputers. These weather forecasters use these supercomputers to run complex weather condition simulations of different regions to recognize patterns and based on that data they predict long-term weather forecasts and reports.
Some other use cases for supercomputers include the use of them in different research centers like for educational and innovation purposes. These research centers include the theoretical physics research centers which use these supercomputers to run complex mathematical problems and equations to prove different theories that can innovate the future of physics and technology.
The use of these supercomputers is prominent in the field of aerodynamics which is used in a wide range of applications such as normal automobiles, race cars from Formula 1, airplanes, and others to run the simulations of these aerodynamic features that will be integrated into these mechanical devices which will further ensure the smooth and efficient working of these devices in the long-run. These aerodynamic features have very complex mathematical problems which are easily solved using these supercomputers.
Furthermore, the recent growth in the field of Artificial Intelligence has made a significant impact on the use of these supercomputers in the Artificial intelligence industry. The need for supercomputers for a wide range of artificial intelligence applications has significantly increased in recent times as they need high-speed and high-power computers to run complex problems and store large amounts of data for deep learning.
The growth in data has further led to the adoption of cloud technologies by these large enterprises that need supercomputers to manage and handle these large amounts of data efficiently. Thus, the growth in the adoption of cloud computing with growth in data will increase the use-case and demand for these supercomputers in the market. For instance, the estimated growth trajectory of public cloud end-user spending in India is expected to go from $5.6 billion in 2021 to $18.5 billion in 2026. This will significantly increase the demand for supercomputers.
Figure 1: Estimated Growth of Public Cloud End-user Spending in India, From 2021-26 (In Billion Dollars)
Source: ibef.org
Market Dynamics and Drivers
Several factors drive the supercomputer market, including a rise in applications for them across different industrial applications like artificial intelligence and theoretical physics research with complex mathematical problems in recent times coupled with the rise in demand for automobiles that use aerodynamic technologies to manufacture efficient vehicles in the industry. These automobile manufacturers use these supercomputers to run simulations of these aerodynamic features into the vehicle to check their efficiency and reliability over the years the vehicle will run on the roads.
The need for these supercomputers has seen a significant rise with the adoption of data-driven technologies like cloud computing by several enterprises that use these supercomputers to handle and manage huge volumes of data effectively in large enterprises. Thus, these factors are anticipated to propel growth in the supercomputer market over the forecast period.
The development and innovation in defense and security of different countries have made several governments across the globe heavily invest in supercomputers to enhance the overall cybersecurity of government useful data and military use cases for enhancing defense strategies and weapons using new and innovative supercomputers across the globe. This is one of the growth factors in the supercomputers market and the use of innovative supercomputers in the cybersecurity and defense industry is significantly impacting the demand for supercomputers in the market globally.
For instance, the expected growth of the Indian cybersecurity market is from $1.97 billion in the year 2019 to $3.05 billion in the year 2022. This growth in the cybersecurity market is expected to heavily influence the demand for supercomputers in the market.
Figure 2: Expected Growth in the Indian Cybersecurity Market, From the Year 2019-22 (In Billions of US Dollars)
Source: trade.gov
Key Developments
In conclusion, the supercomputer market presents significant opportunities for growth and innovation, driven by the increasing popularity of artificial intelligence around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments in research and development for new and innovative supercomputer solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for supercomputers.
Surge in Industrial Automation to Drive the Market for Automated Material Handling
Thought ArticlesThe automated material handling market is expected to grow at a CAGR of 7.17% from an initial value of US$28.769 billion in 2021 and is estimated to reach a market size of US$46.711 billion in 2028.
Computerized technologies that use robots in place of any human labour are known as automated material handling systems. They are employed to push, pull, store, lift, and retrieve goods and resources. This technology has the potential to revolutionise manufacturing facilities and warehouses in terms of productivity. Through various stages of a product’s life cycle, from production to delivery to clients or end users, automation and material handling are essential. By utilising cutting-edge equipment and technology, this material handling system shortens the transit period. The popularity and market growth of automated material handling has increased due to a number of significant factors, including rising labour costs and safety concerns, technological advancements, and an increase in the productivity and efficiency of manufacturing and warehouse operating companies. Furthermore, significant improvements in global manufacturing and growing industry demand for automation in emerging economies are expected to boost the demand for automated material handling.
Demand for automated storage and retrieval systems is increasing in the e-commerce sector
The phenomenal increase in online shoppers over recent years has resulted in a boom for the e-commerce sector. The rise in B2C sales is especially evident in the online sales of food, household items, and prescription drugs. However, the e-commerce sector’s rapid expansion has put immense pressure on businesses to find and deliver a vast quantity of goods within the allotted period. As a result, e-commerce companies have automated their operating facilities.
Automated technologies are increasingly being used by Amazon, Walmart, and other large retailers to carry out operations in a more reliable, accurate, efficient, and secure way. For instance, in January 2020, Amazon signed a contract with Baylo, a French robotic software company. The creation of ground-breaking robotic technologies for material handling vehicles gained value from this business arrangement. By enhancing Amazon’s warehouse material management, this strategic project streamlined the e-commerce industry. In addition, the expansion of the manufacturing industry is a significant factor in the market. Facility owners are focusing on providing and delivering goods to their customers at a faster, more affordable, and higher quality rate.
As a result, incorporating automated equipment enables more productive production cycles while reducing waste and operational expenses. For instance, In October 2022, Walmart agreed to acquire Alert Innovation, a robotics automation business. Over the past five years, Walmart and Alert have collaborated to modify Alert’s material-handling technology for use in Walmart’s market fulfilment centres. Walmart is bringing Alert’s skills in-house through the acquisition in order to scale its operations and deploy MFCs more quickly. Due to the thriving e-commerce industry, the market for automated material handling equipment is anticipated to expand rapidly over the coming years.
The rising trend of smart factories is expected to boost the demand for automated material handling
The material handling sector is expected to grow as smart factories become more popular. A digitalized factory, known as a “smart factory,” continuously gathers and shares data using networked equipment, machinery, and production systems. The decisions made based on this data are then used to enhance the processes and address any potential problems. In order to assess operational effectiveness and minimise waste, the complete material handling equipment production floor, including selecting, sorting, and conveying systems, needs monitoring at every stage of the market process. Such situations are made possible by smart factories that are connected to automated forklift truck market automated systems. Additionally, a number of user-friendly technologies, like data analytics and cloud connectivity, are integrated into material handling systems to enhance asset performance and deliver real-time actionable information. For instance, over 200 robots are assisting workers in Infineon’s Smart Factory in Dresden, which has a 92 percent automation rate. The manufactured wafers are transported automatically, and the smart factory is run by algorithms and centralised operating and monitoring systems.
The integration of automated systems, which are already present in facilities, also offers wireless remote control systems, which aid in improved diagnostics and speed up commissioning.Due to the aforementioned elements, the automated material handling equipment market is potentially expanding as smart factories and Industry 4.0 develop.
Asia-Pacific to hold a major share due to growing industrialization and supportive Government policies
The primary factors influencing the expansion of the Asia-Pacific regional segment include the region’s expanding industrialisation, rising e-commerce sales, and the significant presence of technology suppliers. As a result, many businesses are investing in R&D to develop innovative solutions and maintain their competitiveness. For instance, in June 2020, VisionNav Robotics successfully closed a B1 round of fundraising led by Lenovo Capital & Flyfot Ventures and totaling over CNY 100.00 million with the previous stakeholder, Eastern Bell Capital. The funding was used to increase R&D efforts to advance current visual control and perception technology. These events will accelerate the market growth for AMH.
Rising interest in warehouse automation, increased focus on robotics and automation by advanced economies like China and Japan, and the expansion of e-commerce are a few of the key drivers of Asia Pacific’s larger market share. The market for automated material handling equipment in Asia-Pacific is expanding as a result of the fast expansion of the automotive, e-commerce, food and beverage, and healthcare sectors in developing nations like China and Japan. Additionally, governments in the Asia-Pacific region are putting more of an emphasis on factory floor safety and security, which can be best achieved by implementing automated material handling technology. For instance, in July 2022, Smart Automation Grants (SAG) worth RM138.5 million were given to 238 companies by the Malaysian Investment Development Authority (MIDA). This is a specific incentive from MDEC intended to encourage businesses to digitally transform and automate their business processes. The funding will be used to support the creation and execution of initiatives that encourage the adoption of technologies to automate business processes.
High implementation Cost to restrain the growth of Advanced Material Handling market
The market for automated material handling solutions is being hindered by high implementation and switching costs. Businesses find it challenging to invest in AMH equipment due to the high total cost of ownership that is increased by deployment, software solutions, the use of intelligent sensors, after-sales services, and routine maintenance. SMEs are unable to completely automate their supply chain operations due to the large upfront expenses associated with deploying AMH equipment. Small businesses choose manual material handling procedures because they cannot afford automated technologies. Some major businesses reduce the upfront costs by leasing equipment, renting industrial trucks, or purchasing used equipment. The automated material handling equipment market’s growth is anticipated to be hampered by the high operational and maintenance expenses involved with these systems. Higher operational costs arise from the need to ensure smooth operations when using automation in the production process. The market’s overall growth may be impacted by the increasing tendency to rent out equipment as a result of rising capital costs.
Automated Material Handling Market Scope:
The Impact of Changing Trends on Carbonated Soft Drinks Market
BlogThe Global Carbonated Soft Drink market is expected to grow at a compound annual growth rate of 4.46% to reach a market size worth US$401.930 million by 2030. This market was valued at US$323.131 billion in 2025.
Carbonated beverages or fizzy drinks comprise dissolved carbon dioxide in carbonated water, along with a natural or artificial flavor and sweetener. Usually, fruit juice, high-fructose corn syrup, sugar, or sugar substitutes are used as sweeteners along with other additives such as preservatives, caffeine, colorings, and other excipients. These non-alcoholic effervescent beverages are usually popular among kids due to their high sugar content. With the changing times, soft drinks too have evolved to meet the changing aesthetics and tastes of the consumers. With the addition of various soft drinks like diet cokes and energy drinks has enabled the carbonated beverages to meet the multiple demands of various target groups. Increased adoption of the e-commerce business model and growing demand for diet cokes and similar drinks are expected to drive the market growth.
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Dive deeper into the trends, forecasts, and competitive landscape of the global carbonated soft drink industry with our comprehensive market report.
According to analysts, the growing demand for the diet coke or zero-calorie carbonated beverages is expected to propel the market growth.
In the past few years, there has been an increasing health consciousness among people of all ages. With the growing number of chronic diseases, people are beginning to put emphasis on a healthy diet. Covid-19, in particular, had accelerated this transition. During the pandemic, the stress experienced by the people increased owing to several uncertainties. According to a study conducted by the American Psychological Association in 2020, for instance, 78 percent of the participants reportedly admitted that the pandemic had brought significant levels of stress in their day-to-day lives. The onset of health conditions associated with stress is prompting consumers to pick healthy food and beverages to enhance their mental and physical well-being. In response to this paradigm shift among consumers, the manufacturers are stepping up to meet their evolving needs. Consequently, the launch of diet coke instantly attracted the attention of many owing to the low calorie and sugar intake. These drinks use artificial sweeteners such as saccharin, aspartame, or cyclamates to sweeten the drinks as a substitute for sugar. Coca-Cola, the global leading beverages manufacturer, had rolled out a new and enhanced formula for its offering, ‘Coca-Cola Zero Sugar drink’. This strategic launch had reportedly helped the brand grow its volume by a double-digit figure in 2021. According to the company’s annual report 2021, this new formulation has helped the brand propel its sales in 80 percent of the market regions the product has been launched. Recently, in March 2022, Coca-Cola India launched this new offering in India, as well in line with its ‘Beverage for Life Strategy’. Similarly, in April 2021, Dr. Pepper launched the Dr. Pepper Zero Sugar series in 23 different appealing flavors.
Explore the Artificial Sweetener Market
Zero-calorie beverages rely heavily on artificial sweeteners. Discover the trends and forecasts driving the global artificial sweetener market with our detailed report.
The increasing initiatives by various countries to decrease sugar intake in the diet are further adding impetus to market growth.
At the same time, the sugar reduction initiatives employed by multiple countries in order to offer consumers more options with smaller portion sizes and less sugar are further expected to supplement this trend. The ‘Balance Calorie Initiative’ launched by North America’s American Beverage Association aims to reduce the number of calories in beverages by 20 percent by 2025. According to the latest report released by the association in early 2022, the beverage calories consumed per person have been reduced by 10 percent, reaching halfway toward its goal. Furthermore, approximately 60 percent of beverages released as of today consist of zero or low sugar. Similarly, the Mexican Beverage Industry Association pledged to reduce the calorie content in its members’ product portfolio by 20 percent between 2018 to 2024. At the same time, the European Soft Drinks Industry too pledged to decrease the sugar additives in the beverages by an additional 10 percent by 2025 across all the countries under the European Union and the United Kingdom. This initiative represented the overall reduction of average added sugars by 33% and is an extension of its past milestones. Several popular beverage manufacturers like Coca-Cola, PepsiCo, and Bulldog Americas Cooperation, among many others, are actively participating in these organizations to offer better offerings to their consumers.
According to analysts, North America is expected to occupy the dominant share of the market in the upcoming years.
By geography, the global carbonated soft drink market is segmented into five regions: Asia Pacific, Europe, North America, South America, and the Middle East and Africa. The dominant market share in North America is attributed to changing dietary habits and the increasing demand for healthy beverages. Furthermore, the increasing initiatives are taken by the companies and organizations, Balance Calorie Initiative, for instance, in North America as cited above, and the strategic developments deployed by several major brands are driving the market share. PepsiCo and Bally’s strategic partnership is a prime example of this. In October 2021, the duo entered into a partnership, wherein the latter named the former as the official beverage provider at its casinos and resorts across New Jersey. According to this collaboration, PepsiCo’s wide range of beverages portfolio, including carbonated soft drinks, energy drinks, and sparkling waters, among many others, will be supplied to more than 14 Bally’s properties spread across ten states. At the same time, Asia Pacific is expected to witness the fastest growth in the coming years for the carbonated soft drink market. The countries like India, China, and South Korea, among many others residing in the regions, are expected to occupy a dominant market share. Coca-Cola had reportedly witnessed high demand for reduced-sugar beverages in the region.
Analyze the Energy Drink Market
Carbonated soft drinks include energy drinks, a fast-growing segment. Explore our detailed report on the Energy Drink Market to uncover key trends and forecasts.
Covid-19 Insights
Covid-19 had a positive impact on the global carbonated soft drink market. Amid the pandemic, the increasing adoption and development of e-commerce played a crucial growth. During the initial period of the pandemic, the stockpiling of groceries and household necessities by consumers, including beverages, played a significant role in the expansion of market sales. Keurig Dr. Pepper, for instance, observed a 4.27 percent surge in the sales of carbonated soft drinks. Furthermore, the growing health and hygiene consciousness amid the pandemic further increased the demand for zero or fewer calorie drinks.
Global Carbonated Soft Drink Market Scope:
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Exploring Sustainable Solutions: Innovations in Poultry Packaging
Thought ArticlesPoultry packaging is widely used in different poultry farming products or items such as meat, fish, chicken, and others. These poultry farm products are widely popular because of their nutritional value for the user intake coupled with several other health benefits that these poultry farm products provide. Therefore, poultry farm product manufacturers must keep the quality and integrity of these poultry farm products intact and not harmed due to external or environmental factors like moisture or microorganisms using effective poultry packaging solutions like vacuum packs or modified atmosphere packs for a wide range of poultry farm products.
These poultry farm products come in a wide range from fragile products like eggs to solid but environmentally sensitive products like fresh meat which needs preservation. Each of these different types of poultry farm products has its own unique need of packaging to ensure its safety and quality until it reaches the customer.
Poultry packaging is used to enhance the shelf life of poultry farm products and to make sure the product quality remains intact throughout the product life-cycle from the manufacturing unit where the product is packaged to the retail shop where it is stored under specific conditions according to the product needs and at last, it reaches to customer. In this whole cycle of poultry farm products, the poultry packaging plays a crucial role in providing safe and reliable packaging that can last throughout the process without letting the product inside the packaging get spoiled or damaged.
Different types of packaging are available for each type of poultry farm product with different types of materials such as air-tight containers, vacuum packs, frozen packaging, and biodegradable packaging for environmental sustainability. Furthermore, the poultry packaging ensures the preservation of the nutritional value of poultry farm products due to which they are widely adopted by major poultry farm product manufacturers across the globe.
Global Production Trends
The production of poultry packaging has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand which is the growing demand for poultry farm products like meat and fish globally due to their nutritional value for human health. For instance, factors such as rapid growth in poultry farming and their products industry globally across several different regions especially in the Asia Pacific region.
Therefore, these factors are making several poultry farm product manufacturers adopt effective poultry packaging solutions into their production or manufacturing process to fuel sales of poultry packaging and it is being widely adopted by major poultry farm product manufacturers in recent times as it increases the shelf life of the products which in turn grows the demand for the production of these poultry packaging significantly.
Recently, there has been a notable increase in the production of poultry packaging in emerging economies that has increased urbanization in several countries across the globe like China and India where the overall packaging industry has grown significantly with growth in manufacturing including poultry packaging. Also, technological advancements in the packaging industry have significantly improved the poultry packaging industry and improved the user experience with the advancements in the packaging technologies with interactive packaging designs to attract customers to buy their poultry farm products and easy-to-access packaging solutions of these products.
Moreover, several brands or companies that manufacture these poultry farm products invest heavily in the marketing and branding of these products. The packaging of these poultry farm products is the best way to market and build the brand to give tough competition to other similar companies and separate their products from them to show customers that their product is unique from others which further increases the production of poultry packaging in the market.
Poultry packaging use case
The use of poultry packaging for different poultry farm products is a huge trend in the market these days as poultry farm product manufacturers are switching over to more efficient options for increased shelf-life and preservation of the product’s freshness throughout the product life cycle for the consumer by using effective poultry packaging solutions. These solutions can preserve products from environmental factors such as humidity, temperature, and airborne particles for different poultry farm products and make the day-to-day production of these poultry farm products easy and fast.
These poultry packaging solutions are widely used by different poultry farm product manufacturers including domestic or international poultry farm product manufacturers where every poultry product is integrated with this effective poultry packaging solution to make the customer experience more convenient while using these poultry products according to their needs with these innovative poultry packaging solutions. Therefore, with a rise in demand in these use cases for poultry farm products, there is a lot of research and development done to make poultry packaging solutions suitable for this variety of poultry farm products.
The growth in the use cases of poultry packaging in the poultry farm product manufacturing industry worldwide has made the production of poultry packaging much more prominent and increased in numbers over the years as these poultry products that are growing in demand rapidly need a suitable packaging solution that is to be used for maintaining the integrity of these poultry products. There is significant growth in the packaging industry and new and innovative solutions that are being developed around the globe are heavily influencing the growth of the poultry packaging industry.
There is a wide range of meat products that need different packaging solutions. The growth in demand and production for these different types of meats is predicted to increase the use cases for poultry packaging solutions and production for them significantly. These different meat products include goat meat, pig meat, sheep meat, and others where each type of meat has its unique packaging requirements and will boost the use cases and production for poultry packaging solutions. For instance, in India, species-wise meat production is segmented into various parts where the highest segment is poultry meat production with 36% of total meat production in India.
Figure 1: Species Wise Meat Production in India (%)
Source: mofpi.gov.in
Market Dynamics and Drivers
Several factors drive the poultry packaging market, including a rise in applications for them across different poultry farm products which can enhance their shelf life and protect them from getting contaminated during their product life cycle from environmental factors like humidity or microorganisms using effective poultry packaging solutions like air-tight containers or frozen packaging for meat and chicken products. Also, in recent times a significant rise in demand for effective poultry packaging solutions that can increase the production speed of poultry farm products for the manufacturers while maintaining the product’s nutritional value till it reaches its shelf-life limit.
Moreover, the growth in technological advancements made in the poultry packaging solutions has made it convenient for the customer to use the poultry farm products in their day-to-day lives according to their need like cooking food which has positively impacted the poultry packaging market. So, with this rapid growth and innovation in poultry packaging technology and the popularity of poultry farm products among the general public due to their health and nutritional benefits, the need for suitable poultry packaging is rising proportionally.
The growth in the demand for these poultry farm products including meat products is expected to boost the market growth of poultry packaging over the forecast period. The demand for these products is growing at a rapid pace globally and with this rapid growth, the production and demand for effective packaging solutions is there which is leading to several innovations being made in the poultry packaging industry. For instance, the largest meat-producing state in India is Uttar Pradesh as it produces 23% of the total meat production in India. Therefore, the presence of different huge meat-producing regions across the globe is expected to boost the poultry packaging market.
Figure 2: Top Five Meat-Producing States in India (Production in 000’Mt)
Source: mofpi.gov.in
Key Developments
In conclusion, the poultry packaging market presents significant opportunities for growth and innovation, driven by the increasing popularity of poultry farm products due to their health benefits around the globe especially meat. While facing challenges such as fluctuation in packaging material costs that negatively affect various poultry farm product manufacturers and huge investments for research and development for new and innovative poultry farm product packaging solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for poultry farm products while ensuring the quality and integrity of the products using the poultry packaging solutions.
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Growing Construction Activities to Fuel the Construction Adhesive Tape Market
Thought ArticlesThe construction adhesive tape market size was valued at US$762.665 million in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 4.91% over the predictive period to reach US$1,066.730 billion by 2027.
Adhesive tapes provide several advantages, including adaptability and simplicity of application, safety, and convenience in the construction industry. Construction adhesive tapes attach two similar or different materials, while also decreasing vibration and preventing corrosive damage to walls and building equipment. Adhesive tapes that cure rapidly are in high demand, due to their simplicity in application and inexpensive nature. Owing to the presence of large-scale private investments and rising government spending, particularly in emerging countries, the construction industry has been rapidly growing in demand, resulting in steady growth for the construction adhesive tape market.
Uses of Construction Adhesive Tapes
Roofing and Gutters: – Construction tapes are utilized for roofing and gutters in activities such as patching, sealing, weatherproofing, temporary masking, splicing, binding, and other related activities.
Windows & Doors: – Construction tapes are used in waterproofing and masking windows, decks, and doors in houses and commercial infrastructure.
HVAC & Plumbing: – Construction adhesive tapes are used to provide insulation and sealing for HVAC units and plumbing structures.
Flooring: – These adhesive tapes are used for floor protection, carpet installation, and other related activities
Framing Structures: – Construction adhesives tapes are also used to hold and insulate temporary building structures such as construction framings.
Electrical: – Adhesive tapes are also used for electrical maintenance and wiring solutions.
Development in Construction Adhesive Tape Market
Intertape Polymer Group Inc, a leading tape and filmmaker, has introduced PEFR, a new flame retardant polyethylene (PE) tape in a press release dated 17th May 2021. PEFR polyethylene tape is a heavy-duty tape that is perfect for healthcare institutions, institutional buildings, labs, shipyards, and construction sites where flame-retardant materials are required to offer a crucial layer of fire protection. It’s perfect for abatement, surface protection, the preservation of heavy equipment, and long-term storage. PEFR’s strong rubber adhesive is designed to build a flexible, watertight seal while also adding a layer of fire and flame resistance for surface protection and fabrics.
The Core Series Portfolio Tape Selection app has been released by Avery Dennison Performance Tapes in a news release dated 23rd May 2022. The app is designed to help converters and their clients quickly select the adhesive technologies from Avery Dennison Performance Tapes that are most suited for their needs. The Core Series Tape Selection App allows customers to digitally browse the Core Series Portfolio, which includes various automotive, construction, and other industrial adhesive technology categories, to choose the optimal tape construction for their application. The Tape Selector App provides converters with the crucial information they need to properly quote their clients’ projects in a four-step procedure. Users may request product samples, prices, and meetings straight from the app, in addition to receiving product suggestions.
As announced by Tesa SE on 25th January 2022, the group invested €55 million (US$58.9 million) in a 70,000 square meter plant to create a new production facility in the Vietnamese port of Haiphong. Every year, Tesa plans to produce about 40 million square meters of adhesive tape from this facility. The organization plans to strengthen its local presence and reduce customer and supplier channels.
Products in the Construction Adhesive Tape Market
DuPontTM Flashing Tape is a self-adhered flashing tape comprised of polypropylene film with a butyl rubber adhesive backing that has higher durability. DuPontTM Flashing Tape helps form a robust barrier against water infiltration around the heads and jambs of rectangular windows and doors. DuPontTM Flashing Tape helps prevent air leakage in addition to bulk water holdout.
Mactac Industrial Tapes provide solvent-free acrylic tapes to offer superior bonding on challenging low-surface energy substrates. Mactac’s high-performance, 100-percent solids acrylic adhesive technology – LSE427 – is featured in LSE427 Acrylic Tapes. On LSE substrates, such as thermoplastic polyolefin (TPO), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene, and most foam materials, including open- and closed-cell foam structures, the aggressive adhesive operates particularly well.
The Pro® 500B, is a fabric-based tape with a powerful natural rubber adhesive on both sides. The Pro® 500B is intended for usage in the convention sector as well as general aviation manufacturing and construction. General mounting and holding may also be done with the Pro® 500B.
Asia Pacific Region to Lead the Market
The Asia Pacific market has been reported to have the largest market share in the laminating adhesive market. Owing to the increasing demand for construction activities in the Asia Pacific region, the market has reported a positive demand. The rapid industrial development and urbanization in the region have resulted in tremendous growth for the construction industry. Countries like China and India have reported a significant growth in construction activities in the region, owing to the rising economical development and growing disposable income among people. Furthermore, the region’s growing population has created several potential prospects for the industry, and with increased government assistance in the region, the industry is expected to expand much further.
Covid-19 Insight
The COVID-19 outbreak caused a worldwide economic slowdown. The introduction of lockdown restrictions in most major countries resulted in significant losses for most major enterprises. The adhesive tape market suffered enormous losses as a result of the closure of construction and other major industries. Key production and supply lines were affected as a result of the outbreak, resulting in a drop in demand for the construction adhesive sector. In addition, a scarcity of labor and raw materials hampered market output.
However, the market has been reported to be rebounding, since most countries have begun to relax their lockdown policies. Moreover, market demand is likely to rise as demand for construction activities rises. Furthermore, the market is predicted to rise due to the growing demand for construction adhesive tapes in key industrial and commercial industries.
Construction Adhesive Tape Market Scope:
The Global Demand for Specialty Enzymes in Healthcare Industry
BlogThe global specialty enzymes market is expected to grow at a compound annual growth rate of 9.08% over the forecast period to reach a market size of US$5.144 billion in 2027 up from US$2.280 billion in 2020.
Specialty enzymes are enzymes that have been made artificially and have uses in the healthcare and pharmaceutical industries. Enzymes are proteins that are utilized to accelerate a chemical or biological action in the body. These enzymes are not destroyed throughout the process but are constantly utilized. Enzyme specificity to certain cells or organs aids in pinpointing the site of damage, which aids in an illness diagnosis. Pharmaceutically significant enzymes play a vital role in the pharmaceutical industry. They are prodrugs that focus on a particular biological irreversible or reversible process to cure a specific illness. For instance, Changing Lactate Dehydrogenase (LDH) levels in the blood are a recommended method for diagnosing the start of cardiovascular illnesses.
The global market for specialty enzymes has grown in response to changes in metabolism and an aging population. Furthermore, rising healthcare expenditure has had a favorable impact on market share.
One of the most significant factors driving the growth of this market is the increasing need for specialty enzymes in the medical sector to manufacture drugs to treat catastrophic diseases such as heart diseases, cancer, age-related pain, bronchitis, and lysosomal storage disorders. The rising frequency of such diseases, along with the world’s growing senior population, is predicted to boost the market’s overall growth.
Because they are essential components of human health, pharmaceutical companies and research institutions have shown a strong interest in the study and development of specialty enzymes that can be used in medicines, novel drugs, food, and beverages, or probiotics, which corresponds to the introduction of microorganisms into the bloodstream to support from their properties.
The increasing investments and development of the pharmaceutical industry will surge the market trend in the upcoming years.
Due to the increasing investments and developments made in the healthcare industry, the market for global specialty enzymes is anticipated to witness a surge in the next five years. With the technological developments, the pharma industry is expanding leading the market trend to increase. For instance, Novozymes and Novo Nordisk Pharmatech signed a partnership agreement in November 2021 that brings together the businesses’ combined expertise and objectives in the production of specialized enzymes for use in biopharma manufacturing and regeneration therapies. Additionally, Enzymes used in biopharmaceutical processing now represent a minor percentage of the Danish kr15 billion (US$2.27 billion) specialty enzymes industry, with annual growth rates estimated to be in the high single digits, as per the company reports. Similarly, JITO Angel Network (JAN), an Indian community-based Angel network, announced an undisclosed investment in Kochi-based health tech business Evelabs Technologies (Evelabs) in July 2022, together with a group of individual investors. The funding was used to assist the firm to develop further IoT-based products as well as promote and execute Dripo Orders from different clinics and hospitals. Furthermore, Allozymes and CSM Ingredients formed a strategic alliance in September 2022 to develop a revolutionary enzyme.
The product launches along with the incorporation of specialty enzymes in the healthcare and F&B industry are projected to be beneficial for the market growth
The growing application of specialized enzymes in the food and beverage (F&B) industry is expected to drive growth in the worldwide specialty enzymes market. These enzymes are employed in the production of wine, cheese, bread, vinegar, and other commodities. Moreover, the rising adoption rate of specialized enzymes in the drug development process, as a result of the growing demand for effective pharmaceuticals, as well as research on the future of medical goods, may help accelerate the worldwide market size.
For example, in February 2020, DuPont Nutrition Biosciences ApS, a Danish business specializing in the discovery, manufacture, and distribution of food and beverage components, enzymes, and bio-based products, developed the POWERBake enzyme relying on its emulsification technology. The enzymes provide bakeries and improvement centers with a unique emulsification solution that meets customer demands for clearer labeling while preserving the flavor and quality of white buns and loaves of bread. Similarly, Amano Enzyme, a specialist enzymes provider, announced the launch of Umamizyme Pulse in March 2022, to be utilized in plant protein-based products.
Univar Solutions Inc., a global chemical and component supplier and value-added service, and Novozymes, the world leader in biological solutions, announced plans to broaden their existing partnership into the US and Canadian homecare, industrial cleaning, and beverages markets in March 2021.
Additionally, Advanced Enzyme Technologies Limited acquired a 51 percent controlling share in SciTech Specialties Private Limited in January 2021. SSPL specializes in animal health, medicines, and nutraceuticals. SSPL uses effervescent products technology to make effervescent items.
According to analysts, the Asia-Pacific region is expected to witness positive growth during the forecast period.
Based on geography, the global specialty enzymes market is divided into North America, South America, Europe, and the Asia Pacific. Geographically, the Asia Pacific region is anticipated to grow because of the developments made in the healthcare industry is predicted to lead the market share to expand in addition to generating more demand from the end-user segments. Because of an increase in cardiovascular disease and cancer occurrences, a high prevalence of different malignancies, and an increase in product releases in the region. Cancer has one of the greatest growth rates in India, according to a report by the Indian Health Metrics and Evaluation. More than 1,392,178 people were diagnosed with cancer by 2020. Furthermore, because of rising disposable income and increased urbanization, the market is likely to expand. Many significant market players intend to increase their geographical presence, and these large manufacturing businesses are establishing themselves in the Asia Pacific area, which is predicted to promote the growth of the Asia Pacific enzymes market.
Global Specialty Enzymes Market Scope:
Commercial Aviation Aircraft Tires: Carrying the Heavy Loads and Frictions
Thought ArticlesThe global commercial aviation aircraft tires market was evaluated at US$1.232 billion for the year 2020 and will reach a market size of US$1.531 billion by the year 2027. Over the forecast period, this market is estimated to grow at a CAGR of 3.14%.
Commercial aviation aircraft tires are different from cars, trucks, or any other normal vehicle tires. Aircraft tires are made to support the overall weight of the airplane and all the passengers in it. Commercial aircraft tires must deal with enormous forces and friction while landing. In order to land safely, the aircraft tires are reinforced with strong, flexible materials. Thus, the commercial aircraft tire is specially designed to offer high stability for different types of aircraft ranging from military jets, cargo planes, commercial, etc. The aircraft tire market is expected to expand significantly over the future years despite the difficulties it has faced in the past, such as complex production requirements, restrictions on industrial use, and rubber disposal.
Analysts anticipate that the market will expand at an exponential rate owing to the growing air passenger traffic
According to analysts, the key factor supporting the growth of the commercial aviation aircraft tires market is the growing air passenger traffic around the globe. The major factor aiding the growth of air passenger traffic is economic and demographic growth. The progress in the civil aviation industry is one of the most distinguished improvements of the 21st century, aiding the rapid growth of air transport. For instance, the growing safety requirements for air transport have strengthened the trust of passengers in the aviation industry. Furthermore, the prevalence of organizations such as ICAO (International Civil Aviation Organization) and government regulations to ensure the safety of passengers has further increased air passenger traffic in the past few years. Moreover, the growing middle-class population is stimulating airline activity globally. Furthermore, the availability of low-cost airlines to facilitate the middle-income population has experienced significant growth in the past years. Consequently, the growing number of air passengers is creating a need for higher flight frequency, which is expected to increase the frequency of tire replacements for commercial aircraft. As a result, the overall commercial aviation aircraft tire market is expecting growth. Additionally, globalization has made business travel more prevalent.
During the forecast period, the radial tires segment is expected to witness a significant growth
There are two types of commercial aviation aircraft tires in the market: Radial and Bias. According to analysts, radial tires are expected to witness healthy growth in the market during the forecast period. Radial tires offer more resistance to penetrations and cuts as compared to bias. Further, the radial tires help in even weight distribution with the assistance of stiffer tread. With the even distribution of weight, the tires can get the benefit of longer tread life and less wear. Radial tires are a newer design that can bestow a lower lifecycle cost and long-term value. Lastly, owing to their advanced construction, radial tires offer longevity as they run a bit cooler. On the other hand, the bias tire offers an enhanced speed and stability.
Based on aircraft type, the single-aisle segment is expected to grow substantially during the forecast period
On the basis of aircraft type, the commercial aviation aircraft tires market is segmented into Single-aisle and wide-body. During the forecast period, the single-aisle segment is expected to reflect healthy growth. Owing to the neck-to-neck competition between major single-aisle commercial aircraft market players has propelled the market for single-aisle aircraft. For instance, Bahamas Trade Info reported in July 2022 that Airbus had climbed past Boeing in single-aisle market share. Such tough competitions among the market players are the prime reason for the growth of this market segment. Furthermore, due to the benefits such as low operational cost, ease of maintenance and economical purchase, etc. The demand for small-size aircraft has risen in the past years which is supporting the demand for commercial aviation aircraft tires in this segment.
However, analysts anticipate that the wide-body aircraft is expected to hold a considerable market share. Owing to the growing air passenger traffic the companies are expanding their fleet capacity with large-size aircraft this segment is expected to display promising growth during the forecast period. For instance, in September 2022, Air India announced the signing of a lease agreement with Boeing to progressively induct five wide-body aircraft from December 2022 to boost its domestic and international operations over the next 15 months. Such recent developments are expected to create opportunities in the commercial aircraft tires market during the forecast period.
Geographically, the Asia-Pacific region is witnessing an increase in share in the global commercial aviation aircraft tires market.
The Asia-Pacific and North America regions are expected to hold a significant share of the market due to the growing international passenger market of the respective regions. As per the IATA’s passenger data for the month of August, released in October 2022, Asia-pacific airlines has a 449.2% rise in traffic compared to August 2021. These certain growth factors are expected to have a positive impact on the overall aviation sector in this region. Consequently, the growing aviation sector is predicted to propel the market for commercial aviation aircraft tires market in this region. Additionally, the European Carriers witnessed a traffic rise of 78.8% in comparison with August 2021. This lucrative growth in the Europe region is expected to propel the market during the forecast period.
COVID-19 Insights
The outbreak of COVID-19 had an adverse impact on the global aviation industry. Due to the restrictions on domestic and international travel during the pandemic, the overall number of flights was reduced. For instance, as per the ICAO’s The World of Air Transport in 2020, the overall number of passengers was 4,494 million in 2019 which was reduced to 1,792 million. This data reflected a total annual decrease of 60.1% from 2019 to 2020. Furthermore, the global lockdowns and suspension of flights led to a slowdown in the commercial aviation sector’s activities. In order to contain the spread of the virus, governments across the globe imposed nationwide lockdowns and advised the general public to stay at home. Additionally, the trade restrictions to combat the pandemic further led to a ban on exports consequently affecting the overall aviation logistics industry.
However, the recovery from the pandemic has also paved the path for the future growth of the aviation industry and the growing number of air passengers. For instance, in October 2022, the IATA announced that the total traffic in August 2022 was up 67.7% compared to August 2021. Moreover, IATA also reports that global air traffic is not at 73.7% of pre-crisis levels. Consequently, these recovery statistics are reflecting positive increments in the aviation industry, and as a result, the market for commercial aviation aircraft tires will also experience lucrative growth in the forthcoming years.
Commercial Aviation Aircraft Tires Market Scope:
Conversion of High-Energy Radiation Made Possible by Scintillators
Thought ArticlesThe Scintillator market is evaluated at US$700.597 million for the year 2021 growing at a CAGR of 4.82% reaching a market size of US$974.076 million by 2028.
Scintillators are materials that convert high-energy radiation such as X-rays or gamma-rays to near visible or visible light. These scintillators are widely used as detectors in medical diagnostics, geophysical explorations, and high-energy physics. The scintillator-based detectors consist primarily of a scintillator substance and a photodetector, which could be a photomultiplier tube (PMT) or a photodiode. The photodetector’s function is to turn the scintillator’s light output into an electrical signal. Furthermore, the photomultiplier tubes are considered as most common photodetectors, which consist of photocathodes. The photocathode emits photoelectrons whenever the light photon hits the photocathode. As a result, the subsequent multiplication of that electrons produces an electrical pulse, which could then be analyzed to produce useful understandings about the particle that struct the detectors. Scintillators are extensively used in several applications such as gamma cameras, medical diagnostics, high-energy physics, geophysical explorations, security radiation detectors, gas explorations, and CT scanners among others.
The rapid R&D advancements and growing demand for scintillators in various industries are expected to fuel market growth during the forecast period.
Owing to the numerous benefits of and widespread use of scintillators in industries like manufacturing, healthcare, defense and security industry and nuclear power industry, the market for scintillators has gained momentum in the past few years. With the rapid advancements in technology coupled with ongoing research and developments, the market for scintillators is steadily changing and expected to grow at a steady pace. For instance, in February 2022, the Massachusetts Institute of Technology reported more sensitive X-ray imaging. The researchers at MIT have shown how one could improve the efficiency of scintillators. By changing the surface to create certain nanoscale configurations, such as arrays of wave-like ridges, the efficiency of scintillators can be improved by at least tenfold, and even a hundredfold reported MIT news. In addition to these scientific breakthroughs in the research and development of scintillators, the key market players are also taking a step forward in the scintillator market by introducing a new range of products in the market. For instance, in April 2021 Scintacor, a world leader in the manufacturing and development of large-area Scintillators, announced the availability of their largest-ever Csl: TI scintillators on a range of different substrates. Now, the company can provide the same premium scintillators for usage in mammography, cone beam CT, and Fluoroscopy applications with the ability of up to 310mm-square active area. Such product advancements coupled with the latest scientific research are expected to fuel the market growth for scintillators during the anticipated period.
Furthermore, the increasing demand for scintillators can be attributed to their high precision, efficiency, and ability to detect even lower radiation levels in many end-user industries like healthcare, nuclear power, security, and defense industry among others. For instance, in May 2022, SPIE, an international non-profit organization dedicated to advancing scientific research and engineering operations reported that a successful method for creating radio luminescent polymeric scintillators with different emission colors has recently been described by researchers from Nanjing University of Posts and Telecommunications (NUPT, China). This latest innovation opens a new avenue of research for low-cost flexible radio luminescent polymeric materials.
Based on material type the market for organic scintillators is expected to witness significant growth during the forecast period.
Based on material type, the scintillators market is divided into organic and inorganic scintillators. During the anticipated period, the organic scintillators market is expected to witness significant growth. The organic scintillators generally have fact decay times that range typically ~10-8 Sec which the inorganic crystals are usually far slower. When a charged particle or a photon passes through an organic scintillator, it emits observable photons in the visible portion of the light spectrum. The mechanism for both the scintillators differs from each other. As the organic scintillators have a fluorescence mechanism that arises from a transition in the energy levels of a single molecule, which allows observation of fluorescence independent of the physical state. These advantages of organic scintillators are expected to fuel the market for scintillators under this segment.
The healthcare industry is expected to propel the market growth for scintillators during the forecast period.
The scintillators market is segmented into healthcare, energy and power, manufacturing, defense, and others based on the end-user industry. During the estimated period, the healthcare industry is expected to propel the market growth for scintillators. The healthcare industry mainly utilizes the capabilities of scintillators in order to detect or analyze cardiovascular and neurological diseases. It is expected that the rising number of patients requiring the assistance of cardiovascular care will propel the market for scintillators in the forthcoming years. As per the datasheet of the World health organization, cardiovascular diseases such as heart attacks, and strokes are the leading cause of death globally. In 2019, a total of 17.9 million people died of cardiovascular diseases, estimated the WHO. The total number of deaths represented an overall global population of 32%. And it is anticipated that unhealthy dietary patterns, lack of physical activity, and rising alcoholism among the world population will further increase the need for cardiovascular care. Consequently, the demand for scintillators is expecting positive growth during the forecast period.
According to analysts, the North America is expected to hold a dominant share of the scintillator market during the projected time.
Based on Geography, the scintillators market is divided into North America, South America, Europe, and the Asia Pacific. Geographically, the analysts projected that the Americas would account for a sizeable portion of the market during the anticipated period. Research in the Americas is anticipated to increase because of the rising investments in the space sector and the expanding security concerns in the region. Furthermore, the GE research demonstrated the applications of radiation detectors for homeland security operations in the US in the Radiation Awareness and Interdiction Network (RAIN) program which was funded by the Department of Homeland Security and Domestic Nuclear Detection Office (DNDO). This program demonstrated a system that can detect real-time radioactive materials concealed in vehicles moving at highway speed. Such advanced technology with the support of the US government to aid the rising security concerns in the region is expected to propel the market for scintillators in this region. Moreover, the demand for scintillators is also rising in the European and Asia Pacific areas as a result of the expanding imaging modalities which are made possible by the booming medical industry. The Asia Pacific region’s market growth is anticipated to be driven by the expansion of nuclear power plants and other infrastructure in China, India, and Japan.
Scintillator Market Scope: