The Non-woven Adhesive Tape Market was valued at US$975.388 million in 2020 and will increase to US$1,620.67 million by 2027. Over the forecast period, this market is estimated to grow at a compound yearly growth rate of 7.52%.
Adhesive tape is one of many types of adhesive-coated backing materials. Based on the material used, they are of two types: Woven tapes and non-woven tapes. Woven tapes are made with fabrics from knitting yarns or weaving. On the other hand, non-woven tapes are made using natural or synthetic fibers that have been thermally, chemically, or mechanically interlocked. Non-woven fabrics have a wide range of properties. For instance, they are flexible, can be stretched, absorb liquids, washable, and are flame retardant. Furthermore, Non-woven tapes can also be recycled after they have been used. These tapes are made from various materials, including polypropylene, polyvinyl chloride, paper, and others. The silicone, rubber, or acrylic adhesives can easily adhere to inanimate objects or even human skin. The Non-woven Adhesive market landscape is segmented upon the adhesive type, material, end-user industries, and geography. Owing to their flexibility, durability, and various other appealing attributes based upon the type of material and adhesives used, the tapes are used in diverse fields.
According to the Analysts, the demand for Non-woven Adhesive Tape Market is expected to increase in Healthcare, Automotive, and Packaging Industries predominantly during the projected period.
Owing to their versatility and recyclability, the non-woven adhesive tapes are widely being used in healthcare, automotive, and packaging segments. Non-wovens are increasingly being used in the interior and exterior of vehicles, and over 40 automotive parts are now made with these fabrics. Non-woven Tapes, in particular, are extensively used in vehicles for permanent emblems bonding, wire harnessing protection, paint masking, sound & vibration damping, and thermal management in fuel lines, firewalls, & floorboards, among many others. Many non-wovens manufacturers are expanding their product lines to meet the growing demand for electric vehicles. Non-woven manufacturers are benefiting from market trends such as “green” mobility and autonomous driving. Furthermore, manufacturers are also gearing up their innovation by deploying new recyclable materials, like flax, for the better mechanical performance of their tapes. At the same time, a few other groups are also deploying strategic developments to enhance their brand presence in the view of expanding market size. For instance, a global pioneer in the development of water-based adhesive tapes, ATP Adhesive’s acquisition of BDK Industrial Products Ltd., a specialized adhesive solutions provider, in March 2021 is the best example of this. This partnership is expected to strengthen the duo’s presence in the market and expand the product portfolio.
Similarly, the demand for non-woven adhesives is increasing in the healthcare sector as well. They are used to affix dressing for a skin injury and also to hold the primary dressing in position and shape. Additionally, they are used to hold electrodes, intravenous needles, or medical devices in place. Special medical-grade hypoallergenic adhesives are used in the tapes for the healthcare industry for clean and painless removal. Furthermore, their water-repellent, anti-microbial, stretchable, sterile, and soft attributes, as mentioned above, makes them perfect for use in wound dressing and other clinical applications. At the same time, several manufacturers are gearing up to produce innovative to meet the increasing demand. 3 M’s launch of new medical-grade non-woven adhesive tape in May 2022 is a prime example of this. The new Spunlace Extended Wear Adhesive Tape on Liner, 4576, was developed by 3M for extended wear devices that required adherence to the skin for about a 21-day wear time. The Longer wear times of this innovative approach offer the best user compliance and hygiene. Similar developments are expected to drive the market growth of the non-woven adhesives in Healthcare and automotive segment.
During the forecast period, the Non-woven Adhesive market in the Asia Pacific region is expected to have a dominant share.
Based on geography, the Global Non-woven Adhesive Tape market landscape is segmented into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a dominant share of non-woven adhesive tapes. The rapid growth could be attributed to an increase in the development of automotive and Healthcare segments in the region, particularly in countries like China and India. For instance, according to OICA, of the 80 million units of motor vehicles produced in 2021, over 46 million units were produced in the Asia Pacific region. About 50% percent of these units, over 26 million units, were produced by China, the largest automobile producing nation globally. Furthermore, a recent initiative taken by the Chinese government to sell 7 million electric cars by 2025 and the lifting of JV regulation for foreign manufacturers is further expected to expand the EV segment market in China. Similarly, India, the fifth-largest global car manufacturer, has aimed to expand the electric vehicle sales to thirty percent by 2030 in support of the EV30@30 Campaign.
At the same time, growing Healthcare and medical device in the region is also expected to increase the demand for non-adhesive tapes in the region. For instance, according to the IBEF (Indian Brand Equity Foundation), the Indian hospital industry accounts for 80% of the nation’s overall healthcare market. In comparison, the healthcare market in the country is expected to increase to US$ 372 billion by 2022. This growth could be attributed to the rising income, better awareness of health and diseases along with growing access to health insurance. Similarly, according to the Chinese National Health Commission, as of 2020, the country had over 35,000 hospitals, over 7 million beds, and about 3.32 billion patient visits. Such factors are expected to drive the growth of the Non-woven adhesive tape market in the region during the forecasted period.
Covid-19 Insights
COVID-19’s impact on the non-woven adhesives market varied depending upon the end-user industries. The outbreak of the pandemic and the subsequent lockdown resulted in the closure of many automobile facilities. The increased infection rates had further affected the staffing in the industries, thereby reducing productivity. Subsequently, several projects were also put on hold and were postponed. The disruptions in demand and supply chains and volatile prices had negatively affected the market. In the automobile industry, for instance, the number of units manufactured in 2020 fell to 77,621,582 units from 92,175,805 in 2019 worldwide, according to the statistics derived by OICA. Overall, the manufacturing of motor vehicles in 202o decreased by 15.8% globally. Consequently, the automobile industry’s demand for non-woven adhesive tapes decreased during the pandemic. Conversely, the demand for the tapes in Healthcare saw a drastic increase due to an increase in the number of hospitalized patients. With the recovering economy and initiatives carried by the governments of several nations towards sustainability, the industry is expected to grow even more in upcoming years.
Non-Woven Adhesive Tape Market Scope:
| Report Metric |
Details |
| Market Size Value in 2020 |
US$975.388 million |
| Market Size Value in 2027 |
US$1,620.67 million |
| Growth Rate |
CAGR of 7.52% from 2020 to 2027 |
| Base Year |
2020 |
| Forecast Period |
2022–2027 |
| Forecast Unit (Value) |
USD Million |
| Segments Covered |
Adhesive Type, Material, End-User And Geography |
| Regions Covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered |
3M, Nitto Denko Corporation, Tesa SE, Avery Dennison Corporation, Intertape Polymer Group, LINTEC Corporation, Berry Global Inc, Scapa, Lohmann GmbH & Co.KG, Rogers Corporation |
| Customization Scope |
Free report customization with purchase |
The Benefits and Developments of the Botanical Supplements Market
BlogThe Botanical Supplements market is expected to grow at a compound annual growth rate of 6.38% over the forecast period to reach a market size of US$39.767 billion in 2027, up from US$25.799 billion in 2020.
Botanical supplements provide natural approaches to boost prostate health, cognitive ability and brain health, connective and ligament tissue health, and cardiovascular health. They are dietary supplements derived from plants or plant components that are used for medicinal and therapeutic purposes. Photomedicine refers to plant products that are prescribed for the avoidance and management of different illnesses and conditions. Therefore, botanical supplements act as natural options for hormone replacement treatment. The growing acceptability of herbal formulations among consumers across demographics, along with rising spending on preventive healthcare goods, is likely to impact the growth prospects of digestive supplements in favor of botanicals.
Some of the major factors driving the expansion of the global botanical supplements market include increased awareness about the efficacy of botanical supplements, the absence of side effects from herbal supplements, and the prominence of botanical supplements for health maintenance and an active lifestyle among the aging population. The transition from single component medications to multi-ingredient medicines, as well as the lack of any permission or regulation from the Food and Drug Administration (FDA) before selling the goods, all contribute to the rise of the worldwide botanical supplements industry. Increasing demand for plant products in the healthy food and beverage sector, on the other hand, is creating new business potential for the worldwide botanical supplements market.
The botanical supplements market is expanding due to rising health benefits and consumer preference for herbal supplements
Botanical supplements are a healthy choice to prevent and lessen the impacts of lifestyle illnesses due to intrinsic disease prevention features such as slowing down the digestion and absorption of carbs, which is complementing revenue growth in the worldwide botanical supplements market.
Rising health consciousness, greater worries about food, and more attention to preventative healthcare have prompted people to seek out health-improving herbal supplements. Several manufacturers have released alternative remedies to help women who suffer from common issues such as sleeplessness and menopausal hot flashes. Fish oils, detoxes, probiotics drinks, and other herbal supplements are becoming more popular. The market is predicted to increase tremendously as manufacturers continue to innovate in the manufacturing of botanicals containing a diverse variety of amino acids and aimed at activities such as fat loss and muscle restoration.
Powdered botanical supplements are popular owing to the additional benefits of strong flavor and moderate taste, as well as qualities such as longer shelf life and convenience of use. Manufacturers are currently focused on floral powder research, with the saffron flower being a popular choice because of its royal status as the costliest culinary spice in the world. Saffron was once used to treat menstrual cramps, asthma, discomfort, liver disorders, and brain illnesses.
Botanical health supplements can boost immunity without generating any side effects and be effective in the symptomatic alleviation of allergy symptoms. A significant advantage of the item is its cost since these supplements are inexpensive and easily accessible without the need for a prescription. Therefore, all these factors will contribute positively to the global demand for the botanical supplements market.
Key market developments
There have been major key developments in the market made by companies and governments that have elevated and expanded the market spectrum for the upcoming years. For this reason, innovative product launches, investments, and partnerships made in the market will surge the demand and boost profitability in the future ahead. For instance,
According to analysts, the North American region is expected to occupy a notable share of the market in the coming years.
The use of dietary supplements has increased dramatically in the North American area, owing to increased consumption of nutritional supplements combined with increased knowledge about supplements enriched with botanical extracts, which is the key driver driving the market. Retailers such as Walmart and others are also contributing to the trend by improving their private label offers through new branding and formulas, enhanced packaging, and in-store customer education. Furthermore, there have been significant breakthroughs and novel releases in this region’s botanical supplement sector. As a result, supplement innovation is critical to supporting the expansion of the herbal industry.
Botanical Supplements Market Scope:
Non-Woven Adhesive Tapes – Comfort, Quality & Hygiene Solutions
Thought ArticlesThe Non-woven Adhesive Tape Market was valued at US$975.388 million in 2020 and will increase to US$1,620.67 million by 2027. Over the forecast period, this market is estimated to grow at a compound yearly growth rate of 7.52%.
Adhesive tape is one of many types of adhesive-coated backing materials. Based on the material used, they are of two types: Woven tapes and non-woven tapes. Woven tapes are made with fabrics from knitting yarns or weaving. On the other hand, non-woven tapes are made using natural or synthetic fibers that have been thermally, chemically, or mechanically interlocked. Non-woven fabrics have a wide range of properties. For instance, they are flexible, can be stretched, absorb liquids, washable, and are flame retardant. Furthermore, Non-woven tapes can also be recycled after they have been used. These tapes are made from various materials, including polypropylene, polyvinyl chloride, paper, and others. The silicone, rubber, or acrylic adhesives can easily adhere to inanimate objects or even human skin. The Non-woven Adhesive market landscape is segmented upon the adhesive type, material, end-user industries, and geography. Owing to their flexibility, durability, and various other appealing attributes based upon the type of material and adhesives used, the tapes are used in diverse fields.
According to the Analysts, the demand for Non-woven Adhesive Tape Market is expected to increase in Healthcare, Automotive, and Packaging Industries predominantly during the projected period.
Owing to their versatility and recyclability, the non-woven adhesive tapes are widely being used in healthcare, automotive, and packaging segments. Non-wovens are increasingly being used in the interior and exterior of vehicles, and over 40 automotive parts are now made with these fabrics. Non-woven Tapes, in particular, are extensively used in vehicles for permanent emblems bonding, wire harnessing protection, paint masking, sound & vibration damping, and thermal management in fuel lines, firewalls, & floorboards, among many others. Many non-wovens manufacturers are expanding their product lines to meet the growing demand for electric vehicles. Non-woven manufacturers are benefiting from market trends such as “green” mobility and autonomous driving. Furthermore, manufacturers are also gearing up their innovation by deploying new recyclable materials, like flax, for the better mechanical performance of their tapes. At the same time, a few other groups are also deploying strategic developments to enhance their brand presence in the view of expanding market size. For instance, a global pioneer in the development of water-based adhesive tapes, ATP Adhesive’s acquisition of BDK Industrial Products Ltd., a specialized adhesive solutions provider, in March 2021 is the best example of this. This partnership is expected to strengthen the duo’s presence in the market and expand the product portfolio.
Similarly, the demand for non-woven adhesives is increasing in the healthcare sector as well. They are used to affix dressing for a skin injury and also to hold the primary dressing in position and shape. Additionally, they are used to hold electrodes, intravenous needles, or medical devices in place. Special medical-grade hypoallergenic adhesives are used in the tapes for the healthcare industry for clean and painless removal. Furthermore, their water-repellent, anti-microbial, stretchable, sterile, and soft attributes, as mentioned above, makes them perfect for use in wound dressing and other clinical applications. At the same time, several manufacturers are gearing up to produce innovative to meet the increasing demand. 3 M’s launch of new medical-grade non-woven adhesive tape in May 2022 is a prime example of this. The new Spunlace Extended Wear Adhesive Tape on Liner, 4576, was developed by 3M for extended wear devices that required adherence to the skin for about a 21-day wear time. The Longer wear times of this innovative approach offer the best user compliance and hygiene. Similar developments are expected to drive the market growth of the non-woven adhesives in Healthcare and automotive segment.
During the forecast period, the Non-woven Adhesive market in the Asia Pacific region is expected to have a dominant share.
Based on geography, the Global Non-woven Adhesive Tape market landscape is segmented into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a dominant share of non-woven adhesive tapes. The rapid growth could be attributed to an increase in the development of automotive and Healthcare segments in the region, particularly in countries like China and India. For instance, according to OICA, of the 80 million units of motor vehicles produced in 2021, over 46 million units were produced in the Asia Pacific region. About 50% percent of these units, over 26 million units, were produced by China, the largest automobile producing nation globally. Furthermore, a recent initiative taken by the Chinese government to sell 7 million electric cars by 2025 and the lifting of JV regulation for foreign manufacturers is further expected to expand the EV segment market in China. Similarly, India, the fifth-largest global car manufacturer, has aimed to expand the electric vehicle sales to thirty percent by 2030 in support of the EV30@30 Campaign.
At the same time, growing Healthcare and medical device in the region is also expected to increase the demand for non-adhesive tapes in the region. For instance, according to the IBEF (Indian Brand Equity Foundation), the Indian hospital industry accounts for 80% of the nation’s overall healthcare market. In comparison, the healthcare market in the country is expected to increase to US$ 372 billion by 2022. This growth could be attributed to the rising income, better awareness of health and diseases along with growing access to health insurance. Similarly, according to the Chinese National Health Commission, as of 2020, the country had over 35,000 hospitals, over 7 million beds, and about 3.32 billion patient visits. Such factors are expected to drive the growth of the Non-woven adhesive tape market in the region during the forecasted period.
Covid-19 Insights
COVID-19’s impact on the non-woven adhesives market varied depending upon the end-user industries. The outbreak of the pandemic and the subsequent lockdown resulted in the closure of many automobile facilities. The increased infection rates had further affected the staffing in the industries, thereby reducing productivity. Subsequently, several projects were also put on hold and were postponed. The disruptions in demand and supply chains and volatile prices had negatively affected the market. In the automobile industry, for instance, the number of units manufactured in 2020 fell to 77,621,582 units from 92,175,805 in 2019 worldwide, according to the statistics derived by OICA. Overall, the manufacturing of motor vehicles in 202o decreased by 15.8% globally. Consequently, the automobile industry’s demand for non-woven adhesive tapes decreased during the pandemic. Conversely, the demand for the tapes in Healthcare saw a drastic increase due to an increase in the number of hospitalized patients. With the recovering economy and initiatives carried by the governments of several nations towards sustainability, the industry is expected to grow even more in upcoming years.
Non-Woven Adhesive Tape Market Scope:
Health Concerns may Hinder the Cast Elastomer Market
BlogThe Global Cast Elastomer market is anticipated to increase at a Compound Annual Growth Rate of 3.01% over the predictive period.
Elastomers are rubber-like polymers that can stretch far more than other substances and return to their original shape when the force is withdrawn. When elastomers are bent by external forces, they behave like a viscous liquid and resist motion. Cast polyurethanes are cost-effective and reliable elastomers that combine the durability and flexibility of rubber with the functional benefits of high-tech plastics, metals, and ceramics.
Innovations in the Market
Membrane separation technology has reported rapid advancements over the last few decades. The increasing accessibility and demand for wastewater filtration have led to an increase in market demand for membrane separation technology.
According to a press release by Covestro on 26th November 2020, the company has developed a long-lasting cast elastomer that helps the offshore industry decrease its carbon footprint and environmental effect. The polyurethane elastomers are made from cardyon® brand polyols, which include CO2 and provide comparable performance to petrochemical-based elastomers. Covestro’s innovative method allows for the production of these precursors from carbon dioxide at a weight ratio of up to 20%, therefore substituting the equivalent quantity of fossil raw materials. Covestro’s goal to focus all of its efforts on the Circular Economy is underscored by this breakthrough, which contributes to carbon recycling.
According to a press release by Huntsman on 21st June 2021, the company revealed the IROGRAN® A 85 P 4394 HR TPU, which is the newest addition to a long-standing family of elastomer materials. Huntsman has developed this new thermoplastic polyurethane (TPU) grade for technical extrusion components and blown film applications that delivers considerable advantages in terms of durability, production efficiency, and waste reduction over previous generation technology.
Growing Environmental Concerns
Polyurethane cast elastomer is a polymer chemical combination made up of an isocyanate and a polyol in liquid form. Compounds containing the isocyanate group are known as isocyanates. Polyurethane polymers are components of polyurethane foams, thermoplastic elastomers, spandex fibers, and polyurethane paints. They react with substances constituting alcohol (hydroxyl) groups to generate polyurethane polymers, which are elements of polyurethane foams, thermoplastic elastomers, spandex fibres, and polyurethane paints. Isocyanates can be used to produce a variety of products, including, chemicals, polyurethane foam, insulation materials, surface coatings, automobile seats, furniture, foam mattresses, under-carpet padding, packaging materials, shoes, laminated textiles, polyurethane rubber, and adhesives are just a few examples of polyurethane goods.
However, isocyanate is a dangerous substance and has adverse effects on a person’s body, if exposed to it. Irritation of the skin and mucous membranes, chest constriction, and difficulty breathing are all side effects of isocyanate exposure. Isocyanates are chemicals that have been identified as probable human carcinogens and have been shown to cause cancer in animals. Occupational asthma and other lung disorders, as well as irritation of the eyes, nose, throat, and skin, are the most common side effects of hazardous exposures.
The increasing health and environmental concerns of exposure to isocyanate may constrict the growth of the elastomer market. Moreover, stricter government regulations in regard to elastomer production may hinder the market growth, and affect the market pace in the long term.
Asia Pacific Region to lead the market
The Asia Pacific market is expected to hold the largest market share in the cast elastomer market throughout the forecast period, mainly due to the rising developments in major industries in the region. Advancements in the field of automotive, power, oil, construction, etc have helped in the growth of the cast elastomer market. Moreover, the growing population in countries such as India and China has positively influenced the automotive industry in the region.
Cast elastomers are reliable materials that combine the durability and flexibility of rubber with the functional benefits of high-tech polymers, metals, and ceramics. This is one of the reasons why cast elastomers have become increasingly popular in the end-user industry. The increasing consumer preferences in the region have led to a rise in the end-user industry, which has positively influenced the cast elastomer market. Hence, owing to these increasing market drivers, the cast elastomer market is anticipated to rise in the region.
Covid-19 Insight
The outbreak of the COVID-19 virus resulted in a global economic slowdown. Due to the government-mandated lockdown and social distance limitations, most big corporations experienced significant losses. This had a detrimental impact on the cast elastomer market. The demand for the cast elastomer market declined as a result of the closure of most major industries.
However, the pharmaceutical industry has a positive impact on the cast elastomer market. To control the growing infection cases, the pharmaceutical industry had to mass-produce medical and protective equipment such as PPE kits, hospital gowns, tubes, jackets, etc, which led to an increase in demand for the cast elastomer market. Moreover, with the reopening of most major industries and the increasing consumer demand for sectors such as automotive, energy, and end-user, the market is anticipated to rise substantially.
Global Cast Elastomer Market Scope:
Vehicle Emission Sensors – For A Sustainable Future
Thought ArticlesThe global vehicle emission sensor market is projected to grow at a CAGR of 2.01% during the forecast period to reach US$4.496 billion by 2027, from US$3.911 billion in 2020.
The vehicle’s emissions produce air pollution and an increase in greenhouse gases, raising health and environmental issues. It has resulted in technological development to minimize automobile emissions. As a result, vehicle emission sensors have been introduced. It is installed in the exhaust pipe and detects and monitors the concentration of exhaust gas released by automotive internal combustion engines. Nitric oxide sensors, oxygen sensors, and others are the two categories of car emission sensors based on the type of exhaust gases they detect and monitor.
Explore the Vehicle Emission Sensor Market
This overview provides key insights. Dive into our comprehensive report for detailed market size, growth forecasts, and competitive analysis to navigate the global vehicle emission sensor industry.
Two of the major key causes boosting the need for automotive sensors are autonomous driving and the rise of EV sales. Most automotive sensor markets are expanding with the general expansion of the automotive market. The widespread use of AD and ADAS systems is the primary driver of increased demand for vehicle sensors. Furthermore, according to The International Organization of Motor Vehicle Manufacturers, Asia Pacific generated around 4,67,32,785 units in 2021, a 4% increase over 2020. China and India held prominent roles in the Asia Pacific region. Therefore, due to the rise in the use of electric cars, the vehicle emission sensor market is anticipated to witness a surge.
The global vehicle emission sensor market is dominated by multiple major players, including DEPUSA, TE Connectivity, Sensors, Inc., Littelfuse, Inc., DENSO, Continental AG, Delphi Auto Parts, BBT Automotive Components GmbH, ACDelco, NGK Spark Plugs.
Detroit Engineered Products (DEPUSA) is a corporation established in the United States that specializes in engine design and development for automotive, aerospace and defense, healthcare, marine, railways, heavy engineering, oil and gas, power, and utility industries. The company’s primary focus is on producing strong solutions that assure durability, adaptability, efficiency, and a solid ROI. The firm provides engineering help to Tier 1 and 2 suppliers, OEMs, and other companies in the automobile sector. In 2019, it introduced an improved IC sensor that could assist enhance internal combustion engine efficiency and cutting emissions. These integrated circuit sensors may be utilized in emissions, combustion, and pressure sensors, as well as real-time applications, offering precise and dependable data. They are best suited for onboard engine diagnostics and can be simply retrofitted into current electronically controlled gasoline and diesel engines by adapting the spark plug, fuel injector, or glow plug as the sensor. Both in software and hardware the product is applicable.
Sensors, Inc. is a company located in the United States that was established in 1969 to market infrared emissions monitoring technology. The business took the lead in introducing Portable Emissions Measurement Systems, which enabled on-road emission testing programs across the world. Government regulatory agencies and colleges, as well as engine and vehicle manufacturers in Asia, Europe, and the United States, utilize the company’s emissions measuring systems to monitor emissions such as CO2, NO2, N2O, CO, and others. Sensors’ SEMTECH product range is simple to use and install, and it provides quick and accurate results. These are emission sensors for automobiles. For instance, the SEMTECH DS+ PEMS produces real-world emissions testing for light-duty cars, whereas the SEMTECH DS+ PEMS is designed for heavy-duty testing. Furthermore, sensors’ test cell product line offers reliable measurement of emissions, number and mass, and other parameters. SEMTECH FEM, on the other hand, provides the most precise real-world fuel efficiency metrics.
Continental AG, headquartered in Germany, is a pioneer in technology and sustainability services. It was created in 1871, and in 2020, it published a webpage offering relevant information on the current CO2 emissions rule for heavy goods vehicles, as well as a simulation tool for trucks called the Vehicle Energy Consumption Calculation Tool. The company began developing the NOx sensor system, which plays a critical role in decreasing nitrogen oxide emissions from contemporary diesel and gasoline engines, 20 years ago. In conjunction with SCR emissions control, the Continental sensor is used in both automobiles and light and heavy-duty commercial vehicles. It is made up of a ceramic NOx sensor that is linked to a microprocessor. It enables optimum control of all the fundamental parameters of the automotive. Continental is the leading manufacturer of this NOx sensing system and commercial vehicle manufacturers in Asia, Europe, and the U.S.
Understand the Electric Vehicle Components Market
Emission sensors are crucial for EV efficiency. Explore our detailed report on the Electric Vehicle Components Market for insights into market trends and technological advancements.
Global Vehicle Emission Sensor Market Scope:
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Risk Analysis and Market Scope: Portfolio Management System
Thought ArticlesThe global portfolio management system market size was valued at US$15.770 billion in 2021 and is anticipated to increase at a Compound Annual Growth Rate of 8.98% over the predictive period to reach US$28.796 billion by 2028.
Portfolio management is the process of assessing prospective projects by taking into account each project’s expected benefits and risks, as well as its alignment with the organization’s strategy. Active portfolio management involves systematically purchasing and selling stocks and other assets, to meet the financial and long-term goals of an enterprise. Portfolio management software, which assists firms in managing complex and frequently concurrent projects, can effectively deal with such complex situations. The rise in market competitiveness, demand for cost management, and the rise in demand to maximize market growth have fueled the demand for the portfolio management system market. Greater emphases on data-based planning processes have also created a demand for the portfolio management system market.
Uses of Portfolio Management
Project Evaluation: – Portfolio management can help corporations in determining whether Projects, Programs, and other work items should be kept going, maintained, or terminated. Sometimes some projects need postponement because of a lack of money or resources to meet the demand.
Resource Capacity: – Portfolio Management can help in the estimation of Financial and Resource Capacity based on major responsibilities so that the spending and investments can be done within the allocated funds. Moreover, the difference between target spending and planned spending in the Portfolio can also be determined by portfolio management.
Risk Analysis: – By examining the risk vs. return profile of the whole project portfolio, portfolio management provides a more holistic perspective. This guarantees that firms have backup plans in place in the event of a disaster. This creates the foundation for a more advanced risk management strategy.
Determine Scope: Portfolio Management can help in the integration of the most recent market circumstances with income forecasts. The money can be allocated and tracked across their distribution among Projects. This can help in the determination of market scope.
Portfolio Analysis: Portfolio management compiles a list of the investments made by the user. Portfolio Analysis offers structured project management and control of the investments made, so the organization can ensure that the investments made are performing well, and can take action for bad investments and prevent loss or waste of resources.
Development in Portfolio Management systems
PortfolioStudioTM, a new cloud-based credit portfolio management software from Moody’s Analytics, was released by the company in a news release dated 1st November 2021. Users can use this system to scan for risks and opportunities, analyze alternative actions, and determine how to respond using the PortfolioStudio’s comprehensive portfolio view of the present and upcoming hazards in one platform.
According to a press release by TORA Trading Services Ltd on 28th October 2020, the company launched a new generation portfolio management system, which provides comprehensive trading solutions for hedge funds and asset managers. A new general ledger, comprehensive SWAP contract modeling, quick time series functions, outstanding charting features, and dashboards will all be part of the platform. The PMS may build and track particular cash flow streams during any stage of the contract as part of the expanded SWAP functionality. P&L indicators and daily accrued interest are also included in the system.
As reported by Alluve in a press release in January 2021, the company launched its new Limited Partner portfolio management solution. The LP solution makes data management easier with its comprehensive information and document processing capability, which analyses vital data from documents, which is a time-consuming process, given the vast volume of data received by LPs every day. Investors will be able to manage specific qualities, documents, and cash flows related to their investments across numerous private asset classes and investment types, as well as engage with and analyze their assets to assess exposure, performance, risk, and more, using the data system.
As announced by Profile Software in a press release dated 03rd September 2021, Centevo, the leading asset management software provider in the Nordics and a Profile Group Company, has presented enhancements to its flagship platform, Cairo, the flexible portfolio management solution and the front-end solution for clients. Centevo now has a FIX connection that allows it to connect to Bloomberg via Cairo’s portfolio system. Stock and ETF orders may be placed directly in the system, reducing the need for manual processes and attaining automation. Centevo has also improved the End-Client Solution to include new features. The service provides end-users with a clear picture of their assets, a secure route for encrypted communication, and a simple fund trading platform.
North American Region to Lead the Market
The North American market has been reported to have the largest market share in the portfolio management system market. The demand for portfolio management solutions and services in North America is projected to be fueled by technological improvements in the cloud and mobile technologies. The existence of large IT industries in this region is a major driver for the market. Furthermore, the majority of leading corporations have their headquarters in North America, giving the area better market opportunities. Moreover, the increasing prevalence of mobile devices and growing advancements in cloud-based services provide easy access to such services. Hence, the North American region is anticipated to experience significant growth in the portfolio management system market.
Covid-19 Insight
The COVID-19 pandemic resulted in a global economic decline. Lockdown limitations were imposed in most major nations, resulting in huge losses for most major businesses. However, the COVID-19 pandemic had a positive impact on the portfolio management system market. The rise in internet penetration and work-from-home measures due to lockdown protocols led to a rise in demand for the portfolio management system market. The pandemic also reported a surge in investing activities from a lot of companies, as well as, individuals, which led to a rise in demand for portfolio management activities. Moreover, the development of management systems in smartphones for individual use has also created opportunities for the market. Further, as most nations have started to lift their lockdown protocols, the market is anticipated to expand even further.
Global Portfolio Management System Market Scope:
Broadcast Equipment the Next Big Business?
Thought ArticlesThe broadcasting equipment market is projected to rise at a CAGR of 5.56% to reach a market valuation of US$38.911 billion by 2029, from US$26.532 billion in 2022.
Broadcasting is the most widely used and effective mode of communication on the planet. In many communities with high levels of illiteracy or poverty, word-of-mouth or radio are the only sources of news and information. Radio is undoubtedly the most authoritative of the two. Television has supplanted radio as the most trusted and primary source of news in more developed places. Broadcasting also provides education and enjoyment; in Western societies such as the United Kingdom, according to the commonwealth broadcasting association, people spend an average of 24.4 hours per week watching television and 23.9 hours listening to the radio.
Factors Accelerating the Market:
Increased viewership, as well as a drastic change toward using smartphones and portable devices, has influenced the market, opening up new opportunities for the broadcasting equipment industry. Furthermore, updated technology has compelled broadcasters to give ultra-high-definition output for upgraded users, which is projected to drive the broadcasting equipment market forward. IoT, a popular emerging technology, has spread the use of smart electronic devices across practically all industrial sectors. The adoption of ultra-high-definition screens in trendy gadgets has hastened the progress of broadcasting equipment devices. Furthermore, the growth of OTT and channel services has attracted a huge number of consumers, which is likely to boost demand for broadcasting equipment.
Micro-led TVs for home users and corporate users that provide high-quality output, as well as video wall displays, are adding to the display technology for broadcasting information to a large number of people at a time and place. The demand for high-quality broadcasting equipment is expected to rise as sound technologies progress, such as 3D sound. The high output quality of audio and visual technologies is driving simultaneous growth in broadcasting equipment technology. In the current context, the expansion of IoT has pushed multi-platform video displays into widespread use. As a result, broadcasting with cutting-edge technology promotes the expansion of the broadcasting equipment industry.
Regulations & Policies Defining the Market
In the United States, Congress established the FCC in the Communications Act to “regulate interstate and foreign commerce in communication by wire and radio.” The Federal Communications Commission (FCC) allocates a portion of the broadcast spectrum to new broadcast stations based on the relative needs of various communities for additional broadcast outlets as well as engineering standards designed to prevent interference among stations and other communications users. FM radio and full-power television stations can also be licensed as commercial or non-commercial educational by the FCC. A party must first apply for a building permit from the FCC before constructing a new television or radio station. The applicant must show that it is qualified to build and manage the station as described in its application and that its planned facility will not interfere with other stations in any way.
Types of Broadcasting Equipment
Encoders: Encoders are electronic devices that convert rotary or linear motion into digital signals. This is used to track and regulate motion parameters such as speed, rate, direction, distance, and location. The encoder is a logic device that transforms an active input signal into a coded output signal. It has m output lines and n input lines, with only one active at a time. It converts one of the active inputs to an m-bit coded binary output. The number of output lines is less than that of the input lines.
Servers: A server is a device used in the TV broadcast industry that stores broadcast quality photos and allows several people to modify stories using the images it contains at the same time. Video servers employ specialized technology to collect, store and distribute video clips and full-length videos as needed. To provide high-quality streaming digital video, these technologies include codecs and transcoding tools, as well as broadcast-quality features. For effective delivery, video servers often use metadata to properly identify the identities of video snippets.
Camera: A professional video camera (sometimes known as a television camera, despite its widespread use) is a high-end instrument for creating electronic moving images (as opposed to a movie camera, that earlier recorded the images on film). A camera is an optical device that captures still images or records moving images and stores them on tangible media like a digital system or photographic film. A camera is made up of two parts: a lens that focuses light from the scene and a camera body that houses the image capturing mechanism.
Amplifier: An amplifier is a type of electronic device that boosts a signal’s voltage, current, or power. Wireless communications and broadcasting, as well as audio equipment of all kinds, employ amplifiers. Weak-signal amplifiers and power amplifiers are two types of amplifiers. Wireless receivers primarily use weak-signal amplification. Acoustic pickups, audiotape players, and compact disc players all use them. Wireless transmitters, broadcast transmitters, and hi-fi audio equipment all employ power amplifiers. The bipolar transistor is the most used technology for power amplification.
Key Developments:
COVID-19 Insights
The COVID-19 epidemic is having a significant influence on the broadcaster’s income, as businesses around the world are hesitant to spend money on advertisements. The brands must use their limited financial reserves, especially when demand is suppressed due to the shutdown of the economy. This is expected to last until mid-2021, with a minor rebound after that before the market returns to regular investment in 2023. Although media consumption is increasing, the Broadcast Equipment market has been severely hampered by the Covid-19 pandemic because of a lack of spending by end-users. Despite the uncertainty created by COVID-19, the market is well-positioned to profit from an economic recovery and the industry’s shift to IP and Cloud-based solutions.
Global Broadcasting Equipment Market Scope:
Coagulation Testing – Activation, Adhesion and Aggregation of Platelets
BlogThe Coagulation Testing market is expected to grow at a compound annual growth rate of 3.84% to reach a market size worth US$3,868.871 million by 2029. This market was valued at US$2,972.150 million in 2022.
Medical treatments that check the hemostasis system are known as coagulation tests. A doa, ulometer, which measures and assesses the speed of clot formation or blood coagulation, is used to perform this test. By detection and identification of blood clots in blood vessels, these tests help to prevent heart attacks, thrombosis, and embolism.
Analysts anticipate that the market will grow due to the increased prevalence of liver disease during the forecast period.
Acute and chronic liver disease usually results in coagulation abnormalities due to a variety of causes, including decreased production of clotting and inhibitor factors, inability to remove active factors, and defects in platelet quantity and quality. According to the Centers for Disease Control and Prevention (CDC), there are 4.5 million adults with liver disease and a 1.8 percent prevalence of liver disease in adults. Furthermore, Increased prevalence of blood disorders and cardiovascular problems, rise in the geriatric population, high demand for point of care (POC) coagulation testing, and technical improvements such as faster and more accurate testing are all contributing to the growth of the coagulation testing market.
There have been a significant number of companies that have contributed considerably to market expansion. Product innovation and constant R&D operations to generate improved technologies have assisted the market’s expansion. For example, Siemens Healthineers and Sysmex Corporation announced a multi-year extension of their long-standing global supply, distributorship, sales, and support agreement for a comprehensive portfolio of hemostasis devices in February 2021. Sysmex’s CN-Series automated blood coagulation analyzers, the CN-3000 and CN-6000, will be distributed by Siemens Healthineers in the future, delivering the next generation of entirely automated solutions for middle and upper coagulation testing to laboratories.
The high costs of devices and stringent regulatory reforms can act as a constraint on market growth at a global level.
The cost of having a completely automated coagulation system is significantly high. Other than hematologists, all employees must be trained and competent. Outside of the laboratory, establishing strict quality assurance standards is more difficult. The global market is being held back by strict laws governing coagulation testing devices, the expensive cost of fully automatic hemostasis equipment, and concerns about the potential negative effects of blood testing. Furthermore, the market expansion is hampered by the slow adoption of sophisticated hemostasis instruments and a lack of awareness about the novel and advanced applications of coagulation test devices, particularly in developing nations.
By test type, the D-Dimer testing segment is anticipated to witness a significant market share during the forecast period.
D-Dimer testing is expected to account for a significant part of the market and will likely dominate the industry over the projected period. When a blood clot dissolves in the body, one of the protein fragments formed is D-dimer. Unless the body is producing or breaking down blood clots, it is normally undetectable or detectable at a very low level, after which its level in the blood might rapidly rise. Several studies have found a relationship between high d-dimer and t-PA antigen levels and the risk of coronary heart disease (CHD). Increased D-dimer levels are linked to the severity of coronary artery disease (CAD), and D-dimer levels predict the long-term risk of arterial and venous events, cardiovascular death, and non-CVD noncancer fatalities, regardless of other risk factors. D-dimer is also a good predictor of cancer death and occurrence. As the number of people dying from cancer, coronary heart disease, and cardiovascular illness rises, so will the demand for D-Dimer analysis devices, which may aid in better understanding these diseases. As a result, the demand for D-dimer testing has increased, strengthening the coagulation testing market.
By end-user, the hospital and clinic segment is anticipated to witness a significant market share during the forecast period.
The hospital and clinic segment is expected to rise rapidly during the projection period. In many hospitals and health facilities, blood coagulation testing is widely used. Adoption is high because of the high frequency of blood illnesses and cardiovascular diseases. Furthermore, the increased demand for specialized coagulation and hematology facilities could be a major growth driver for the coagulation testing industry’s hospitals segment. Microfluidics, fluorescence microscopy, photoacoustic detection, and electrochemical sensing are among the cutting-edge technologies being used to produce reliable, cost-effective point-of-care (POC) devices, which is fueling demand.
According to regional analysis, the Coagulation Testing market in North America is expected to hold a significant share during the projected period.
Significant growth is projected in the North American region. The market’s expansion is being fueled by the rising frequency of chronic blood illnesses, increasing laboratory automation, and industry players implementing strategic initiatives. According to a February 2020 update from the Centers for Disease Control and Prevention (CDC), the exact number of people afflicted by deep vein thrombosis is unknown, although it is estimated that 900,000 people (1 to 2 per 1,000) in the United States are impacted each year. According to the same source, venous thromboembolism kills 60,000–100,000 Americans per year. As a result of these figures, the market for coagulation analyzers in the region is expected to rise.
Furthermore, various market players are implementing strategic initiatives, which are helping to drive the industry forward. For example, Haemonetics Corporation, based in the United States, bought Enicor, a developer of blood coagulation diagnostic systems, in April 2020. As a result of the factors mentioned above, the market is predicted to increase significantly over the forecast period.
COVID-19 Insights
The Coagulation Testing market was positively affected by COVID-19. COVID-19 patients have a high D-dimer level. COVID-19-related coagulation disorders are more likely in patients with severe infections than in people with moderate illnesses, and COVID-19-related deaths are more likely to meet ISTH criteria than survivors. The rapid rise in D-dimer levels over time, as well as the rise in D-dimer levels after admission, are linked to a high rate of mortality, indicating coagulation activation due to infection/sepsis, cytokine storm, or progressive organ failure. The greater knowledge of the disease, the benefits of early diagnosis, and the opportunity to monitor blood flow in persons with COVID-19 are all driving the expansion of the coagulation testing market.
Fly Ash: A Revolutionary and Lightweight Building Material
BlogThe Fly Ash market size was valued at US$5.482 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 5.93% over the predictive period to reach US$8.204 billion by 2027.
Fly ash is a byproduct of pulverized coal combustion in power plants. Mineral impurities in coal (clay, feldspar, quartz, and shale) fuse in suspension during burning and float off with the exhaust gases. The fused material cools and hardens as it rises, forming spherical glassy particles known as fly ash. Electrostatic precipitators or bag filters are used to recover fly ash from exhaust fumes.
Types of Fly Ash
Class F: Particles coated in molten glass are found in Class F fly ash. Sulfate attack, which can develop in fertilized soils or near coastal regions, is considerably reduced as a result of this. Class F is low in calcium and has a carbon level of less than 5%. Class F fly ash is utilized at 15 to 25% by mass of cementitious material doses.
Class C: Class C fly ash is also chemically resistant to expansion. It contains more calcium oxide than Class F and is thus more typically utilized in structural concrete. Class C fly ash is generally made up of high-calcium fly ashes with less than 2% carbon content. Class C fly ash is applied at concentrations ranging from 15 to 40% by mass of cementitious material.
Application in the Construction Industry
The growing construction industry has seen significant developments and advancements in recent times. In certain markets, fly ash may be a cost-effective alternative for Portland cement. Since it is a byproduct and has a low embodied energy (the amount of energy consumed in making and delivering a construction material), fly ash is also considered an environmentally beneficial resource. Portland cement, on the other hand, has a very high embodied energy since it is made with a lot of heat. Fly ash uses less water than Portland cement and is better to work in cold weather. Fly ash is also a non-shrink material and produces a smooth surface with accurate detail. Additionally, it is also a great material to work with since it has a much lesser chance of developing cracks or defects on the surface.
Additionally, fly ash has been known to be used in concrete paving, blended cement, mineral filler for asphalt roads, soil stabilizer, water stabilizer/treatment, etc. Many countries have already started implementing fly ash as an additive in concrete, to strengthen the properties of concrete, at the same time reduce the environmental damage caused by fly ash disposal.
Environmental Concerns of Fly Ash
Developing countries that do not have access to environmentally friendly fuel alternatives use more coal than other developed countries. Most big industries in India use coal as a fuel for production and industrial use. Hence, India currently leads the fly ash production market. However, it produces a lot more material than it can use, leading to an imbalance in production and usage. The main usage of fly ash is in the construction industry, to be used in place of cement for the production of bricks. However, fly ash cannot be completely substituted for cement. Hence, the extra waste fly ash left needs to be disposed of. However, due to the lack of waste sites, India exports its excessive fly ash to Bangladesh. According to the Indian Ministry of Ports, Shipping and Waterways; India exports about 3 million tons of fly ash to Bangladesh through its waterways, where it is used in cement factories.
However, Fly ash exports are unregulated, which leads to the overloading of export ships, resulting in frequent breakdowns and spillages. Fly ash spillages are toxic since it contains various chemicals such as arsenic, aluminum, antimony, barium, cadmium, nickel, lead, etc. According to a study by Healthy Energy Initiative, five ships delivering fly ash containers to Bangladesh sank in the region in 2020. This is a serious threat to the flora and fauna in the region, as well as the people living in the region since it can lead to serious health implications. Moreover, coal combustion industries also pose a threat to the people living in the region. According to a report by the United States Environment Protection Agency (USEPA), people living next to a coal disposal site have an increased risk of developing cancer or other serious ailments. It also reports that people that drink water contaminated with arsenic have as much as 1 in 50 a chance of developing cancer.
Asia-Pacific Region to Lead the Market
The Asia-Pacific market has the greatest market share in the Fly Ash industry. The fly ash market is predicted to grow even more due to the region’s rapidly increasing industrial sector.
India has been reported to have the largest production of fly ash in the world, followed by China. This is primarily due to the fact that most industries in the region use coal as a primary fuel, leading to the massive production of fly ash in the region. This has led governments to search for better alternatives for the usage and disposal of fly ash and implement certain measures to help in the proper utilization of fly ash in the region. The rising construction industry in the region is the main consumer of fly ash in the region. It is mixed with cement or concrete to provide strength and sturdiness to the material. It is also used in the building of roads, by mixing it with asphalt, and with the introduction of several highway and expressway projects, the market is expected to grow.
The construction business in Qatar is also expanding, owing to the FIFA World Cup set for 2022, which is prompting the development of new infrastructure, buildings, hotels, and highways.
Covid-19 Insight
The COVID-19 outbreak triggered a devastating global economic collapse. Since many countries implemented lockdown measures and social distance rules, most key sectors experienced significant losses. Along with the closure of many major industries, the construction industry also faced a significant slowdown. With construction activities stopped in most parts of the world, the fly ash market suffered huge losses. Since fly ash is a byproduct of coal, and coal is required in a lot of essential industries in developing countries, like electricity production, fly ash production continued to rise. However, with a drop in demand for fly ash, the market suffered. This led to an imbalance in the market, due to continuous supply and minimal demand. This led to many countries disposing of their excess fly ash. However, as the COVID-19 regulations are being lifted, the market has started to re-emerge, and with the increase in demand for construction activities, the market is expected to rise.
Versatile and Superior Bonding with Film Adhesives
BlogThe Film Adhesives market size was valued at US$1.803 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 5.32% over the predictive period to reach US$2.592 billion by 2027.
Adhesive films are made composed of thin layers of high-performance bonding agents accompanied by a supporting substance. Paper, plastic, fabric, foil, foam, and other materials can be used to make the carrier of sticky films. On one or both sides, the backing can be covered with adhesive and combined with a release liner if necessary. Adhesive films can provide a high level of strength and attachment, similar to that of screws, fasteners, or welding in many cases. Since adhesive films are not liquid-based, they offer an indefinite shelf-life and can be stored over a long period of time. Adhesive films are suited for automated operations and industrial applications where time-consuming problems and maintenance difficulties require to be avoided. Radiofrequency identification (RFID), LED lighting, aerospace electronics, construction, portable computing, consumer electronics, and automotive electronics are some of the applications for these films. Polyethylene, polyvinyl chloride, polypropylene, polyvinyl acetate, and polyvinyl butyral are some of the materials used in the production of film adhesives.
Application of Film Adhesives in the Automotive Industry
The growing automotive sector has seen significant developments and advancements in recent times. Owing to the stricter government regulations to make cars more environmentally friendly, the electric vehicle market has recorded an increase in demand. Electric vehicles are known to be low on maintenance costs, have lower emissions, and provide high-quality performance, at a remarkably lower cost than combustion cars. This makes electric vehicles an ideal alternative to combustion vehicles, owing to the constantly increasing fuel prices. The introduction of government initiatives to increase the sale of electric vehicles in the market has also affected the market in a positive way, making EVs more affordable and accessible to the people.
Electric vehicles are usually powered by a lithium-ion battery that needs to be charged using a power outlet. These batteries cannot be fixed using traditional screws or fasteners, since such batteries contain harmful and combustible chemicals, which may be dangerous if punctured or cracked. Hence film adhesives act as an ideal choice for automotive manufacturers to bind substances where traditional materials cannot be used to join things. Film adhesives are also used in other in-vehicle applications such as acoustics, seat cushioning, windscreen installation, crash safety, headlamps, mirrors, etc. With the increasing demand for electric vehicles, the demand for film adhesives is also expected to increase substantially. According to the International Energy Agency (IEA), electric vehicle sales are expected to jump from 3 million vehicles in 2017 to 23 million in 2030.
Increasing Packaging Industry
The COVID-19 pandemic led to the closure of a lot of industries, leading them to suffer significant losses. During this time, however, demand for the e-commerce industry increased dramatically. Due to the lockdowns and rising viral infection rates, many consumers began to prefer online purchasing and delivery choices. This shift in consumer base led to an increase in demand for the packaging market. The increase in demand for packaging led to an increase in demand for film adhesives, which is a vital bonding agent in delivery packages and parcels. This rise in the popularity of internet shopping is only predicted to continue as individuals become more accustomed to working from home. Hence, the film adhesives market is expected to increase in demand in the packaging industry.
Asia-Pacific Region to Lead the Market
The Asia-Pacific market has been reported to have the largest market share in the Film Adhesive market. Owing to the rapidly developing industrial sector in the region, the film adhesive industry is expected to rise even further. Countries such as China, India, and Japan, have reported a significant increase in the automotive and packaging industries.
China has been reported to be the global leader in the electric vehicle market. Owing to the rapid developments in the EV segment, and the inclusion of government subsidies, the Chinese electric vehicle market grew rapidly. According to the ICCT, China accounts for more than half of all electric car sales and more than 90% of all electric buses and trucks. The IEA reports that despite the Covid-19 outbreak, China’s total new automobile registrations fell by around 9%. With 4.5 million electric automobiles, China now boasts the largest fleet of electric vehicles. Additionally, the Chinese government has also set aside a significant amount of money for EV charging infrastructure. China’s public charging infrastructure is on par with that of the US, Europe, and Japan combined. China is home to cutting-edge battery technology, new mobility business models, and a wide range of electric car models that are gaining traction throughout the world. The electric vehicle sector has benefited greatly from China’s ambition of comprehensive vehicle electrification and a long-term objective to assist accomplish mitigation targets. President Xi Jinping of China also promised to attain carbon neutrality by 2060.
India has also reported similar technological developments and is expected to considerably contribute to the EV revolution. Hence, with the increasing advancements in the automotive sector, the film adhesive market is also expected to rise in demand.
Covid-19 Insight
The global economic downturn caused by the COVID-19 epidemic was severe. Most significant sectors suffered losses as a result of most nations establishing lockdown measures and social distance regulations. The automotive industry also faced huge losses during this time, which significantly affected the film adhesives market, since the automotive industry owns a major share of the film adhesive market’s revenue.
However, the packaging industry saw an increase in demand during this time, owing to the prevalence of online shopping and delivery, due to the closure of physical shops and the implementation of lockdown protocols. This increase in online shopping led to an increase in demand for the film adhesive market, and with the ever-increasing e-commerce industry, the film adhesive market is expected to significantly rise in demand.
Film Adhesives Market Scope:
Usage of Algaecides to Control Algae Growth
BlogThe algaecides market is expected to grow at a compound annual growth rate of 3.54% to reach a market size worth US$3.016 billion by 2028. This market was valued at US$2.364 billion in 2021.
Algae are microscopic organisms that develop in water or moist environments. In a pond, algae growth consumes all of the oxygen that other underwater living species require to exist. Furthermore, certain species of algae can be dangerous to humans, fish, and plants, thus excessive algae should be avoided or eradicated. It is a chemical that kills and prevents algae and cyanobacteria from growing. Algaecides are divided into two categories: natural and synthetic algaecides. They are typically employed to keep filamentous, branching, and planktonic algae at bay. Algaecide effectiveness is determined by a variety of parameters, including application volumes, water chemistry, and product formulation.
Analysts Predict That the Market Will Grow as the Number of Harmful Algal Blooms Increases as a Result of Climate Change
The rise in the frequency of toxic algal blooms around the world as a result of climate change is one of the primary factors fueling the algaecides market growth. Climate change, according to the US Environmental Protection Agency, is raising water temperatures, creating an ideal habitat for harmful algae blooms to thrive. Other variables that are causing the dangerous algal blooms to grow faster include changes in salinity, greater carbon dioxide levels, and variations in rainfall. The increase in algal blooms has resulted in an increase in demand for algaecides, which is predicted to fuel the algaecides market’s expansion throughout the forecast period, as climate change is expected to continue to have an impact in the coming years.
The algal bloom induced by Karenia brevis, a saltwater microorganism, is steadily spreading up Florida’s southwest coast. K. Brevis was found in different levels in Pinellas, Hillsborough, Manatee, Sarasota, Lee, and Collier Counties as of June 4, 2021. A measure that will mandate the Florida Department of Environmental Protection to procure technology effectively in eliminating hazardous algae, pollutants and nutrients from water bodies was passed on November 30, 2021. Local government entities can apply for a technology grant through the agency. According to a legislative staff report, the initiative aims to rehabilitate Florida’s water bodies by using short-term measures to address algal blooms and nutrient contamination.
Similarly, every year, thick harmful algae bloom occurs in Lake Erie in North America. Scientists have warned that the problem of harmful algal bloom in the lake is worsening as a result of climate change. In 2021, Lake George experienced two significant harmful algal blooms (HABs), one in July and the other in October, recording the lake’s third and fourth HABs, respectively. Since the early October bloom, the state’s Department of Conservation has documented six more small, localized shoreline HABs on Lake George. Between July 6 and August 25, 2021, 24 reports of suspected HABs were received along Lake Champlain’s New York shoreline, according to the Department of Environmental Conservation. This year, the state recorded 192 HAB-affected water bodies, up from 184 in 2020.
The Intergovernmental Oceanographic Commission of UNESCO launched an unprecedented examination of nearly 10,000 harmful algal bloom (HAB) incidents worldwide during the previous 33 years in June 2021. The first-ever global statistical research looked at 9,500 HABs incidents over 33 years and discovered that the harm caused by HABs increases in tandem with the aquaculture industry’s growth and increased marine exploitation. Although algaecides are not a long-term solution, they are still utilized for short-term objectives, and with the rise in algal blooms due to climate change, the algaecides is anticipated to expand greatly throughout the forecast period.
During the Forecast Period, the Aquaculture Segment Is Expected to Maintain a Significant Share in the Global Algaecides Market
Because of the structured expansion of aquaculture in both freshwater and marine areas for the purpose of maintaining water quality and the increased prevalence of algal bloom in the North and Latin American regions, which affects fish and mussel farmers in the region, algaecides are used the most in aquaculture. According to the United Nations’ Food and Agriculture Organization (FAO), aquaculture production is expected to reach 109 million tonnes in 2030, up 32 percent (26 million tonnes) from 2018. The total quantity of fish produced is expected to rise from 179 million tonnes in 2018 to 204 million tonnes in 2030. The need for aquaculture production and fish consumption is continuing to rise, necessitating increased aquaculture productivity. As a result, the use of algaecides in aquaculture has grown over time and hence plays a substantial role in aquaculture production, which is why the aquaculture segment of the algaecides market has a notable market share and is expected to continue to dominate the algaecides market during the forecast period.
According to Regional Analysis, the Algaecides Market in North America Is Expected to Hold a Significant Share During the Projected Period
The global algaecides market is segmented into five regions based on geography: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Because of a well-established aquaculture business in countries like the United States and Canada, the North American region is expected to occupy a considerable proportion of the algaecides market and to have significant expansion. The market will further propel due to the rising worries about algae blooms and the region’s increased focus on reducing water pollution, particularly in the United States. Furthermore, the country’s high industrialization necessitates the use of algaecides to prevent the growth of undesired algal, which will boost the market in the region.
COVID-19 Insights
The market was negatively impacted by business disruptions and price fluctuations caused by the COVID-19 pandemic. Because the algaecide business caters primarily to non-essential end-user sectors, the most substantial effects of the pandemic occurred in the first quarter of the year, with a steady but uneven recovery taking root as the second half of the year progressed. The COVID-19 pandemic altered the global economy and supply and demand fundamentals. For instance, the Dow Chemical Company witnessed net sales of $38.5 billion in 2020, down 10% from net sales of $43.0 billion in 2019.
Algaecides Market Scope: