The global mechanical keyboard market is projected to witness a compound annual growth rate of 13.53% to grow to US$2,645.646 million by 2027, from US$1,088.489 million in 2020.
Mechanical switches are keyboards having spring-activated switches that provide the best performance and dependability when used in intensive tasks like gaming and typing. These keyboards improve the customer experience by aiding with accurate typing and key longevity. They are also one of the highest demanding keyboard kinds for gaming applications in various fields to features such as easy repair and replacement. Mechanical switches provide several advantages over typical membrane switches, including instant response and high efficiency. With the advancement of technology, a diverse variety of functional keyboards with both personally and professionally use has become available. It is gaining popularity in the retail market among the numerous sorts of keyboards. Spring-activated switches are commonly found on mechanical keyboards, and they are designed to meet the needs of the user. The global mechanical keyboard industry is likely to be hampered by the availability of low-cost touchscreen keyboards, technological alternative also including joysticks, and multi-function mouse. It improves the typing experience by allowing for more precise typing and a longer key life. It also allow for easy switch repair and replacement, which adds to their ease and cost effectiveness helps in the growth of the market in the upcoming years.
Using a Mechanical Keyboard and the Availability of Channel Distribution
The mechanical keyboard enables for comfortable hand, forearm, and wrist placement, whereas the curved key design allows for easy access to the keys, reducing stress while typing. The configuration of the keyboard also lowers the distance between some of the commonly used keys, which encourages users to use the mechanical keyboard because it can be used for a variety of tasks. Furthermore, prominent competitors in the market facilitate items via numerous distribution channels, extending the mechanical keyboard market’s global market footprint. Dell added the Cherry MX Mechanical Keyboard to the Alienware m17 R4, and Alienware m15 R4 Gaming Laptops in March 2021.
Technology Advancements Over Standard Membrane Keyboards
The mechanical keyboard has a longer key life and allows for more precision in typing, which improves the user experience; it also allows for quick switch maintenance and replacement, which adds to the mechanical keyboard’s ease and cost-effectiveness. Furthermore, it is more durable and responds quickly to key switches, boosting its functionality of mechanical keyboards over membrane keyboards.
Integration of a Variety of Devices and Functions in Order to Improve Functionality
Many industry competitors are providing advanced features like synchronizing, which allows keyboards and headsets to communicate effectively. Additionally, synchronization possibilities with a variety of mobile devices, including smartphones and tablets, allow for more efficient device use. Mechanical boards are becoming increasingly popular because of capabilities such as Cooldown modes, which allow for counting down on switches since the last press. Furthermore, unique features such as a built-in sensor or camera for motion detection, built-in software compatibility for voice recognition, and a small and silent design can help to increase the need for mechanical keyboards.
Availability of an Omni-Channel Distribution System
To increase their global market footprints, leading companies in the mechanical keyboard market their products through numerous distribution channels. This, in turn, makes items more accessible to consumers and propels the mechanical keyboard industry forward. In addition, corporations use wholesalers and merchants to enhance sales of their ergonomic keyboards on e-Commerce platforms like eBay, Buy.com, Amazon, CDW, Insight, PC Mall, Newegg.com, PC Connection, and TigerDirect.
High Cost of Mechanical Keyboards Is Projected to Stifle the Mechanical Keyboard Market’s Growth
Mechanical keyboards are frequently advertised as luxury items with additional features such as orientation, flexibility, and layouts, as well as software and cost. Basic mechanical keyboards cost between $50 to $90, whereas superior mechanical gaming keyboards cost over $200 and include advanced features and capabilities such as cordless and Bluetooth connections, antibacterial protection, and illuminated keys. As a result, these factors are projected to restrain the worldwide mechanical keyboard market’s growth in the coming years.
Gaming Sector Is Flourishing the Market Share During the Study Period of 2020 to 2027
Increased consumer demand in the gaming industry is also boosting market expansion. Mechanical keyboards are popular among gamers because they provide numerous advantages, like being more durable, quicker, and haptic.Professional gamers usually prefer wired keyboards since they are more suitable for gaming. The European video game market is expected to reach 23.3 billion euros in 2020, according to the Interactive Software Federation of Europe. They are more immediate to complex control combinations and have no lags. Users prefer wired keyboards because they don’t have to feel the need to change the battery, recharge the battery, or accidentally draining the battery while playing computer games or typing. The popularity of this sort of keyboard is high, and it is likely to grow in the future. Corsair, Azio, Logitech, Corsair, Alienware, Logitech, Razer, Roccat, and more businesses sell wired mechanical keyboards.
Linear Switches Segment to Boost Its Expansion
A linear switch’s goal is to generate a smooth and consistent actuation. It usually does so without generating sensory feedback, which is great for people who are susceptible to little bumps. If you don’t want the unpleasant sounds that occur with clicky switches, this is also a good option. These are the significant advantages of the linear switches segment that will drive its expansion in the global mechanical keyboard market throughout the forecast period.
Lowering PC Sales Are Expected to Stifle the Global Mechanical Keyboard Market’s Growth
Due to competition for smartphones and tablets, sales of desktop-based PCs have decreased dramatically in recent years. According to IDC, the country’s entire PC market will reach 14.8 million units in 2021. As a result, such factors are projected to stifle the worldwide mechanical keyboard market’s growth over the forecast period.
During the Forecasted Period, the Asia Pacific Region Will Show Robust Growth
The mechanical keyboard market, by geography, is divided into North America, Europe, Middle East and Africa, Asia Pacific and South America. The Asia pacific region holds the largest share and is predicted to grow at an increasing rate in the Mechanical Keyboard market. Major mechanical keyboard manufacturers are concentrating their efforts in Asia Pacific countries such as India and China. Increased government investments in digitization infrastructure have prompted various enterprises to increase their profits in these countries. The mechanical keyboard market is seeing substantial expansion due to sustained growth in these regions, as well as the continued use of advanced technology such as the Internet of Things (IoT) and a growing gaming population.
Rapid economic growth in countries like the United States, Canada, and Mexico, as well as prolonged use of innovative technologies like the Internet of Things (IoT), and a growing gaming population, the North American region holds the major share and is expected to grow at the fastest rate in a forecast period.
The Impact of the Outbreak of COVID-19 on the Mechanical Keyboard Market
The COVID-19 epidemic has projected to cause a moderate slowdown in the industry. Production has comes to a standstill as a result of workforce shortages. The end-use industries saw a major drop in demand as a result of this. Due to an increase in disposable money, increased internet penetration, and strong growth in the esports industry, the mechanical keyboard market has already been booming.. During the propagation of the COVID-19 virus, the stock market experienced a sharp increase. The infection was contained by a lockdown, and the acceptance of virtual as well as online operation modes and amusement resulted in a boom in the simulated gaming business. Mechanical keyboard demand grew significantly as a result of these factors. Furthermore, as digital channels became more prevalent, internet usage expanded in order to support the newly accepted working infrastructure.
Global Mechanical Keyboard Market Scope:
| Report Metric |
Details |
| Market size value in 2020 |
US$1,088.489 million |
| Market size value in 2027 |
US$2,645.646 million |
| Growth Rate |
CAGR of 13.53% from 2020 to 2027 |
| Base year |
2020 |
| Forecast period |
2022–2027 |
| Forecast Unit (Value) |
USD Million |
| Segments covered |
Application, Product Type, Vertical, And Geography |
| Regions covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered |
Roccat Studios, A4Tech Co. Ltd., Logitech International S.A., Corsair Components, Inc., SteelSeries ApS, Rapoo Corporation, Razer Inc. |
| Customization scope |
Free report customization with purchase |
Drench the Crops With the Fungicide to Get the Best Quality
BlogThe Fungicides market is expected to grow at a compound annual growth rate of 4.24% over the analyzed period to reach a market size of US$25.914 billion in 2027. The market stood at US$ 19.378 billion in 2020.
Fungicides are pesticides that are used to protect plants from fungi and their spores. Fungicides inhibit the growth of fungi in plants while also protecting them from other types of diseases. Fungicide decreases crop losses before and after harvest while increasing crop yield. Fungicides are primarily produced by the chemical and pharmaceutical industries. Furthermore, the demand for food products is increasing as the population grows. Food crop losses are primarily caused by diseases in crops at various stages of development. Fungicides are increasingly being used in floriculture, horticulture, and farming to increase crop yield and protect crops from various diseases. Fungicides are primarily used in cereal crops in farming. Plant disease prevention entails a variety of activities that are referred to collectively as integrated pest management. The fungicides market is expected to grow moderately over the next five years.
Types of Fungicides:
Fungicides are of two types synthetic and biological. Plant pathogenic fungi have been effectively controlled by synthetic fungicides. Their repeated use over decades has disrupted natural biological systems, sometimes leading to the development of fungal resistance. They had unfavourable effects on non-target organisms and exacerbated environmental and human health concerns. Synthetic fungicides are expected to have a significant market share over the next five years. The primary factor supplementing this segment’s share is the widespread use of fungicides for various crop types worldwide to improve crop productivity.
Biofungicdes are living organism formulations used to control the activity of plant pathogenic fungi and bacteria. Biofungicides are based on observations of natural processes in which beneficial microorganisms, typically isolated from soil, inhibit the activity of plant pathogens. Biological fungicides are expected to grow rapidly over the next five years, owing to a growing emphasis on good agricultural practises in many parts of the world. During the forecast period, the growing emphasis on environmental protection will support the growth of this segment. Furthermore, the introduction of new biological fungicides by several market players demonstrates the segment’s potential for growth over the next five years.
Fungicides used on crops:
Based on the crop type, fungicides are segmented into 4 types cereals & grains, fruits & vegetables, oilseeds & pulses, and other etc. Pulses are considered highly nutritious because they are high in dietary fibre, minerals, and vitamins, among other things. Furthermore, the growing global consumption of pulses is due to a variety of health benefits, including proper digestion and blood cholesterol maintenance, among others. As a result, increased consumption of these seeds and pulses in major countries such as India, China, and the United States will result in increased cultivation, which will boost the segment’s growth over the course of the forecast period. FAO forecasts for 2021/22 indicate a tightening market outlook for oilseeds and derived products, which is largely supported by production shortfalls coinciding with relatively resilient demand. Although the global supply-demand picture may remain relatively tight, preliminary forecasts for 2022/23 point to increased outputs across the oilcrops complex.
Fruits and vegetables are expected to grow at a healthy rate over the next five years, owing to rising consumption of fruits and vegetables around the world as a result of growing concerns about the health benefits of eating fruits and vegetables. Furthermore, rising vegetable production due to rising global demand is viewed as one of the key factors supporting market growth over the next five years.
Consumption of cereals and grains is increasing around the world as people become more concerned about the health benefits of eating cereals and grains. Furthermore, rising grain production due to rising global demand is regarded as one of the key factors supporting market growth over the next five years. Forecasts from the FAO Although high input costs and water scarcity may prevent global rice production from increasing, the 2022 harvest is expected to be abundant due to public efforts to assist the sector in dealing with profitability challenges. As a result, global rice consumption and trade may continue to rise while reserves remain plentiful. Triazols, strobilurins, morpholines and carboxamides, and chlorothalonil are the most commonly used fungicides for disease control in cereals.
Increasing food demand:
The global demand for food is expected to drive growth in the fungicide market. The demand for food rises in tandem with the increase in the global population. According to United Nations data, the global population is expected to reach 9.7 billion by 2050. According to the Asian Development Bank (ADB), the APAC region is home to two-thirds of the world’s one billion hungry people. Furthermore, rapid industrialization and expanding urbanisation in emerging economies such as China, India, and South Korea are causing the region’s arable land to deteriorate. Given the limited cultivable land area, farmers must increase crop yield. All of these factors are encouraging farmers to increase their reliance on crop protection chemicals, which will drive fungicide demand over the next five years.
The emergence of several diseases has increased demand:
Climate change is a major source of concern for agricultural production around the world. Climate change can affect crop quality and yield, making crops more susceptible to diseases and pests. This has a significant impact on crop health. Many studies have shown that seasonal factors such as rainfall and temperature humidity can cause crop loss. The growth of fungi and the spread of hazardous fungal disease is influenced by changes in temperature and moisture content. This increases the demand for fungicides, further fueling the growth.
Regional and Geographical Insights:
On a Geographical note, Geographically, North America will dominate the regional market because major producers of fruits and vegetables include the United States, Canada, and Mexico. Growing farmer awareness of sustainable farming practices in the United States will increase the demand for fungicides in the region. Due to the increasing need to increase crop yield in order to eliminate food insecurity in the region, APAC is expected to have the fastest regional market growth.
Fungicides Market Scope:
Growing Packaged Food Market to Fuel the Laminating Adhesives Market
Thought ArticlesThe global laminating adhesives market size was valued at US$984.413 million in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 5.46% over the predictive period to reach US$1,428.340 billion by 2027.
Laminating is the process of applying a bonding chemically to bind two or more flexible packaging webs together. Films, papers, and metal foils make up these webs. Laminating adhesives have shown to be an excellent choice for a variety of packaging applications requiring strong bonding. Laminating adhesives are projected to be in high demand as the demand for flexible packaging grows across sectors. Increased production and sales of packaged foods, automobiles, medical gadgets, electronic components, and other items in both developed and developing nations have helped in the growth of the global laminating adhesives market.
Uses of Laminating Adhesives
Food Packaging: – Laminating adhesives have widely been utilized in the food industry. Laminating adhesives are used to wrap fresh foods, vegetables, raw and cooked meat, etc. The food sector requires a long-lasting laminating adhesive that can protect the product from external damage while also preserving its freshness. Laminating adhesives are also used to produce microwavable food packs and boil-in-bag food packs.
Insulation: – Laminating adhesives also include foil or metalized films that provide insulation protection for a range of applications. The adhesive is usually preferred for its fire-retardant characteristics. Ceiling panels and wall insulation are two common uses of this product.
Medical: – Laminating adhesives are used in the medical industry for the fabrication and production of durable and sterilized packaging for medical devices and equipment. Laminating adhesives are also used in the production of blister packs or clamshell packaging. Laminating adhesives is an economical and efficient method for the pharmaceutical industry, as compared to other methods of laminating.
Development in Adhesive Market
As reported Toyo-Morton Ltd in a press release dated 31st May 2022, the company, which is a member of the Toyo Ink Group and Japan’s leading maker of laminating adhesives, has developed the ECOADTM EA-B3860/EA-B1290, a high-solids solvent-based adhesive for dry lamination of multilayered sheets in flexible packaging structures. When compared to the company’s general-purpose laminating adhesives, the new formulations have over 40% coating solids by weight and contain less solvent, resulting in a 25% reduction in overall CO2 emissions during lamination. The high-solids design also means reduced waste recovery and disposal, resulting in increased operating efficiencies and a cleaner workplace.
As reported by Henkel Adhesives in a press release dated 16st September 2021, The Association of Plastic Recyclers (APR) has given the Henkel adhesive system its seal of approval for recyclability. Henkel’s Liofol LA 4220 RE/Loctite Liofol LA 3180 RE was tested under the Critical Guidance Protocol for PE Film and Flexible Packaging. This two-component adhesive solution for PE film lamination is the company’s first solvent-free, 100% solids adhesive system for flexible packaging to be recognized by the organization.
Products in the Laminating Adhesives Market
LOCTITE® Liofol is a Henkel brand of high-quality laminating adhesives and coatings. Solvent-free polyurethane adhesives and solvent-based polyurethane adhesives are among the LOCTITE® LIOFOL polyurethane laminating adhesives range. This product line includes solutions for a wide variety of applications in the food packaging sector, as well as non-food applications such as automobile and consumer product manufacturing sectors.
The 3MTM Laminating Adhesive 932FL is designed for smooth and HSE surfaces. This 2 mil adhesive is bonded on a clear 3 mil polyester (PET) liner, which provides strength and enables quick and easy visual inspection before removal. 3MTM Laminating Adhesive 932FL has a 2 mil utility acrylic adhesive developed for smooth surfaces like metals and high surface energy plastics, making it ideal for applications like back printed graphic overlays. This adhesive can withstand temperatures of up to 300°F (149°C) for short periods of time and up to 250°F (121° C) for prolonged periods of time, and also offers resistance against weather and chemical damage.
PACACELTM L75-191, developed by Dow and Chempoint, is a high-efficiency solventless adhesive that may be used in a wide range of applications and performance requirements. PACACELTM offers a cost-effective solution for laminating applications by increasing line speeds, reducing process cure times, and reducing clean-up time and waste, which contributes to a higher production using PACACELTM
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 flexible and durable packaging in the Asia Pacific region, the market has reported a positive demand in the region. The consumer demand for convenient and durable packaged products in the food industry, as well as, the increasing developments and demand for the healthcare sector in countries like India and China have positively influenced the demand in the sector. Stable economic growth and infrastructure improvements are primarily responsible for this expansion. Moreover, the increasing population in the region has opened up a lot of growth opportunities for the market. Additionally, with the increasing government support in the region, the market is anticipated to grow even further.
However, the growing demand for environment-friendly production processes to combat climate change effects in the region may hinder the demand for laminating adhesives in the region.
COVID-19 Insight
The pandemic of COVID-19 caused a worldwide economic slowdown. The introduction of shutdown restrictions in most major countries resulted in significant losses for most major enterprises. The installation of lockdown measures also had an impact on people’s lifestyles and well-being. The laminating adhesive market has seen a drop in demand as a result of the closure of key enterprises and manufacturing facilities. The outbreak caused key manufacturing and supply lines to be disrupted, resulting in a fall in the packaged food industry. This was accompanied by a lack of food on the market, which resulted in inflated food prices.
The market, however, is said to be recovering, since most nations have started to remove their lockdown rules. Furthermore, rising demand for frozen meals and packaged fresh produce is expected to drive up market demand. Furthermore, rising demand in the healthcare and automotive industries is expected to fuel market growth.
Laminating Adhesives Market Scope:
Irregular Debt Payments to Drive the Revenue Cycle Management Market
BlogThe Revenue Cycle Management market size was valued at US$140.220 billion in 2022 and is anticipated to increase at a Compound Annual Growth Rate of 10.87% over the predictive period to reach US$288.287 billion by 2029.
The process of determining, collecting, and controlling an organization’s income from consumers based on the services delivered is known as revenue cycle management. A successful revenue cycle management process is critical for a healthcare institution’s financial survival and capacity to continue providing high-quality treatment to its patients. The revenue cycle begins when a patient schedules an appointment and concludes when money is received successfully. A human mistake can result in lost income owing to coding complexity, misunderstanding, medical billing problems due to identical data, and incomplete information or misspellings. Moreover, receiving timely payments might be difficult due to the ever-changing healthcare rules and reimbursement structures. These services can efficiently be offered by revenue cycle management.
Growing Investments in the Healthcare Sector
In recent years, the healthcare industry has experienced remarkable growth. Advancements in technologies like automated medical procedures, robotic surgeries, non-invasive surgeries, and other facilities have led to a better expansion of the healthcare sector. Moreover, the increasing healthcare expenditure and initiatives from the government have also led to growth in the healthcare industry. The rate of electronic data created in the healthcare business has grown to terabytes and petabytes, owing to increased patient loads and the digitalization of organizational, clinical, and financial data. This necessitates the implementation of revenue cycle management software. These factors have led to significant development in the healthcare industry.
According to data released by the American Medical Association, the United States spent about US$4.1 trillion on healthcare services in 2020, which was an increase of 9.7% in spending. This increased spending was due to the increasing number of COVID-19 infection cases during the time. The COVID-19 pandemic resulted in most major countries developing their healthcare infrastructure, which has led to an increase in investment costs in the healthcare sector. Most developed and developing countries have started to implement revenue cycle management systems to efficiently process patient information and payment procedures. Moreover, the pandemic led to an increase in telehealth solutions, which led clinics to adapt to cloud-based revenue management systems.
Billing Disputes
With the increasing advancements in healthcare technology and equipment, healthcare costs have also increased significantly. Implementation of certain government policies has also resulted in increased medical bills. These factors have led to inflation in medical bill costs. The amount of a medical bill might be unexpected, and it can vary greatly depending on the patient and provider. Uninsured and out-of-network patients are usually charged fees that are significantly higher than those paid by in-network insurers, despite the fact that the uninsured may have limited financial resources. According to a report published in February 2022 by the Consumer Financial Protection Bureau (CFPB), the total amount of medical debt in the United States as of June 2021 amounts to about US$ 88 billion. In reality, this debt is a lot more than this amount, since not all medical debts are reported to consumer reporting companies. Moreover, medical debt accounted for about 58% of all third-party debt collection tradelines in 2021, making it the most significant debt collection tradeline on credit reports.
The increasing cases of irregular or non-payment of fees have resulted in a complicated scenario for the healthcare sector. Financial officers and employees face immense complications in fund collection, assortment, and database management. This has led to an increase in demand for the revenue cycle management, due to their outstanding financial management and risk reduction abilities.
North American Region to Lead the Market
The North American region is expected to hold the largest market share in the revenue cycle management market throughout the forecast period. The market is predicted to grow as a result of factors such as rising innovations in healthcare technology and infrastructure. The increasing patient volumes in healthcare facilities have led to an increase in demand for proper healthcare revenue management. Rising healthcare costs in the United States are forcing industry participants, such as providers and consumers, to adjust by adopting value-based compensation systems, expanding risk sharing, and instituting cost controls. The revenue cycles of hospitals and health systems have been significantly affected by these market factors. The ability of RCM to prevent billing errors and financial losses, while also maintaining a proper patient database, has had a significant impact on healthcare facilities. Increasing government support and initiatives have also led to an increase in demand for the revenue cycle management market.
Covid-19 Insight
The emergence of the COVID-19 pandemic caused a worldwide economic downturn. Most companies suffered considerable losses since most countries imposed lockdown and social distance policies. This also affected the lifestyle and well-being of the population. However, owing to the increasing infection cases, the healthcare sector grew significantly. Government initiatives and increased spending in the sector also led to an increase in the healthcare sector. This also resulted in a positive influence on the revenue cycle management market. Revenue cycle management systems played a vital role in database management, bookkeeping of funds, checking appointments and payments, insurance-related services, reviewing revenue shortfalls, error detection, and other important tasks. Revenue cycle management systems have since reported an increase in demand, due to their efficiency and multitasking abilities. Moreover, as countries have started to relax their COVID-19 regulations, the healthcare sector had reported an increased patient volume. Hence, the revenue cycle management market is anticipated to rise significantly in the coming years.
Aprotic Solvents Market to be Driven by The Rising Fuel Demand
BlogThe Aprotic solvents market size was valued at US$14.265 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 3.47% over the predictive period to reach US$18.112 billion by 2027.
Acidic protons are absent in aprotic solvents. As a result, they are unable to participate in hydrogen bonding as proton donors. They lack hydroxyl and amine groups, unlike polar solvents. Although they cannot give protons, polar aprotic solvents are of special importance because of their capacity to dissolve salts. Aprotic solvents include several hydrocarbons and chlorocarbons. Acetone (H3C-(C=O)-CH3), Ethyl acetate, DMSO, dimethyl sulphoxide ((CH3)2S=O), DMF, N, N-dimethylformamide (C3H7NO), HMF (hydroxymethylfurfural), Oxolane/tetrahydrofuran (THF), crown ethers, and acetonitrile (CH3CN) are some examples of aprotic solvents. Aprotic solvents have a variety of uses in the oil and gas, paint and coatings, pharmaceutical, agricultural, and plastics industries.
Oil and Gas Industry to Drive the Demand for Aprotic Solvents
In recent years, the expanding oil and gas sector has experienced tremendous breakthroughs and advancements. The world’s major oil and gas businesses have benefited enormously from the turmoil of war and climate collapse, with immense joint profits in only the first three months of 2022. This has also led to an increase in the demand for aprotic solvents in the industry.
From January to March, Shell generated US$9.1 billion in profit, about three times more than the same period last year, while Exxon made US$8.8 billion, nearly three times more than in 2021. Chevron increased its profits to US$6.5 billion, while BP made US$6.2 billion in its first quarter, the most in a decade. Coterra Energy, a Texas-based company, increased its profits by 449 percent year over year to US$818 million.
Additionally, with countries breaking ties with Russia, over its human rights violations, oil supply from other countries has started to increase in demand, leading to a positive scope for the aprotic solvents market. Hence, the demand for aprotic solvents is expected to increase in emerging countries.
Environmental Concerns of Aprotic Solvents
Most medical and industrial uses require solvents. The negative impact of solvent losses and emissions motivates efforts to reduce or eliminate them. Due to their remarkable polarities and solubilities, dipolar aprotic solvents (DMSO, DMF, DMAc, NMP, and others) have been widely used in organic synthesis and pharmaceutical research. However, most of these solvents are not eco-friendly, due to their negative effects on human health and environmental hazards caused by their inherent toxicity, large wastewater streams, and high energy input requirements. The growing need for dipolar aprotic solvents in pharmaceutical research and development, as well as other chemical processes, exacerbates this perilous condition. As a result, one of the most essential aspects of green chemistry is reducing and eliminating the usage of such solvents.
Environmental contamination and a growing need for energy have sparked interest in biomass-based products as an alternative to petroleum-based products in recent years. To date, much work has gone into addressing this issue, which has included the creation of green and new reaction systems that meet a variety of conditions that are also satisfied by standard dipolar aprotic solvents. Bio-based fuel production is a fast-growing subject that encourages the discovery of compounds with promising potential in this area. Renewable resources, such as biomass, may be used to make biofuels and bio-based compounds. This might lead to more effective greenhouse gas emissions management and a circular economy. Lignocellulosic biomass resources, which are made up of cellulose, hemicellulose, and lignin, are one of the most promising sources of biofuels, bio-additives, and biochemicals, because they do not compete with agricultural food crops as vegetable oil biodiesel does. Levulinic acid is a platform chemical that can be synthesized from lignocellulose and can be co-produced from the acid treatment of sugars and starch. Levulinic acid may be used to make a variety of compounds, including -valerolactone, 2-methyltetrahydrofuran, and alkyl levulinates; and also possesses similar properties to aprotic solvents to an extent.
Asia-Pacific Region to Lead the Market
During the projected period, the Asia-Pacific region is predicted to be the largest and fastest-growing market for aprotic solvents. The market is expected to develop due to factors such as increased use in the pharmaceutical, paints, and oil and gas industries. The increasing oil production in countries like China contributes to the growing market share of the Asia Pacific region.
Moreover, the utilization of aprotic solvents in the production of insecticides, fungicides, pesticides, and other chemicals in the agricultural sector is expected to drive the demand, owing to the increasing agriculture sector in the region. Agricultural production in countries like India and China holds a major share of the global production, owing to the favorable climate and the abundance of fertile land in the region. Moreover, with the adoption of high-yielding crops and rapid developments in the agricultural sector, the Asia Pacific region is expected to grow even further.
COVID-19 Insight
The outbreak of COVID-19 caused a global economic slump. Since various governments imposed lockdown measures and social distance regulations, most critical sectors have experienced significant losses. Along with the closure of many major industries, the oil and gas demand also faced a decline, due to the closure of most factories and the decline of vehicle movement. According to the BP Statistical Review of World Energy 2021, Oil consumption fell by 9.1 million barrels per day, leading to a drop in global oil production by 6.6 million barrels per day. Natural gas consumption also fell by 81 billion cubic meters or 2.3% in 2020. With the decrease in oil and gas demand in most parts of the world, the aprotic solvents market suffered huge losses.
However, the aprotic solvents market saw a positive demand from the pharmaceutical industry, due to the increasing infection cases. Increased healthcare sector growth has been helped by the use of bio-based dipolar aprotic solvents as intermediates in medicinal preparations.
With most industries going back to their normal state, and with the advancements in the pharmaceutical and agricultural sectors, the aprotic solvents market is expected to increase in demand.
Global Aprotic Solvents Market Scope:
A Natural and Versatile Product for A Variety Of Uses – The Linseed Oil Market
Thought ArticlesThe Linseed Oil market size was valued at US$963.709 million in 2022 and is anticipated to increase at a Compound Annual Growth Rate of 5.11% over the predictive period to reach US$1,366.226 million by 2029.
Linseed Oil (also known as flaxseed oil) is one of the most functional natural oils that can be used in a variety of applications. It can be used to preserve wood, and produce paints, varnishes, resins, soaps, inks, and linoleum. Linseed oil is also edible and can be used to produce dietary supplements.
Uses of Linseed Oil
Paints and Coatings: – Linseed oil paints are similar to traditional paints, but except for using acrylic or polyurethane as a bonding agent, it uses linseed oil. Linseed oil is a drying oil, which means it can combine into a solid-state, making it ideal for use in paints and coatings. It dries to a beautiful, natural, long-lasting finish. Linseed oil paints can be used for both external, as well as internal paint jobs. It can be used for a variety of materials, including wood, metal, bricks, and more.
Linseed oil is also a popular medium used to make oil paints. Linseed oil lowers the drying period of your paint when used for oil painting, which is beneficial when painting in layers. The layers that are painted first would dry faster, allowing other layers to be drawn over them.
Cosmetics: – Linseed oil is a popular cosmetic component for its relaxing, softening, and calming effects. Linseed oil is high in vital fatty acids, vitamins, and minerals, which replenish and moisturize your skin while also keeping it moisturized. Linseed oil is naturally abundant in vitamin E, a powerful antioxidant that helps to fade undesirable skin discolorations and blemishes. Linseed oil helps to balance out skin tone and minimize redness. Linseed oil is one of the few oils that include omega-3 fatty acid alpha-linolenic acid (ALA), which is beneficial to the heart and skin. Anti-aging and moisturizing creams are made using it.
Pharmaceuticals: – Linseed contains linoleic and -linolenic fatty acids, as well as dietary fibers and lignans, which are valuable for one’s health and wellbeing by lowering cholesterol levels, relaxing smooth muscle cells in arteries, and improving blood flow. Fatty acids present in flaxseed are involved in various metabolic activities in the cell, not just as membrane structuring components but also as storage lipids. Flax is a functional food that may be ingested in a number of forms, including seeds, oil, and flour, and can help with basic nutrition. Several flax-based formulations, such as tablets and microencapsulated powders, are currently on the market that can act as nutraceuticals.
Linoleum: – Linoleum is a material most commonly used for floor coverings. It is created from substances such as solidified linseed oil (linoxyn), pine resin, powdered cork dust, sawdust, and mineral fillers such as calcium carbonate. To get the required color finish, pigments are frequently applied to the components. However, the market for floor coverings is on a decline, due to the adaptation of materials such as Polyvinyl chloride (PVC). The usage of PVC is on the rise, mainly due to its bright-looking texture and non-flammable properties. PVC also has similar flexibility and durability to linoleum, which makes it a suitable alternative to linoleum. However, linoleum is a natural product and poses bio-degradable properties, as compared to PVC, which is non-biodegradable.
Dog Supplements: – Dogs require a lot of care and effort to be kept as a pet. Some dogs have strict food diets to maintain their health and physique. Food supplements have become an important part of a pet’s diet, mostly due to the fact that humans and animals have different food requirements and needs. This has led to an increase in demand in the supplementary market and owing to the increasing adoption rates, the supplement market is expected to rise substantially.
Linseed oil contains Omega-3 fatty acids and is an active ingredient in health supplements. Linseed oil helps in providing a shiny look to the dog’s hair, and also in maintaining healthy skin. Since most dogs are unable to adapt to diverse environments, their skin begins to deteriorate, potentially leading to a variety of skin problems. This has led to an increase in demand for linseed oil in the supplementary segment.
Covid-19 Insight
The Covid-19 pandemic led to a worldwide slowdown in industries and the global economy. Most markets suffered heavy losses due to the lockdown and social distancing regulations, implemented by governments all over the world. Due to the closure of most major industries, the linseed oil market saw a shortage of raw materials and labor, which also led to an increase in the price of raw materials. This led to a decrease in demand for the linseed oil market. However, as countries have started to relax their covid-19 norms, the industries have started to flourish. Most industries have returned to normalcy, leading to a stable market flow and consumer demand. As industries around the world start to reoperate, the market demand for linseed oil is expected to increase.
Linseed Oil Market Scope:
Elastomeric Foam: for all your Insulation Needs
Thought ArticlesThe Elastomeric Foam market size was valued at US$3.384 billion in 2022 and is anticipated to increase at a Compound Annual Growth Rate of 6.33% over the predictive period to reach US$5.891 billion by 2029.
Elastomeric foam insulation, also known as closed-cell elastomeric foam insulation or rubber insulation is a synthetic rubber with a closed-cell structure that comes in factory-made tubes, sheets, or rolls. Due to its outstanding capacity to manage condensation on cold (below-ambient) mechanical systems, closed-cell elastomeric foam insulation is best recognized as an insulator for HVAC, refrigeration, and piping systems.
Due to immense awareness of indoor air quality, demand for elastomeric foam has expanded dramatically during the previous two decades (IAQ). Elastomeric foam is popular among IAQ proponents because it contains no formaldehyde or fibers and emits extremely few volatile organic compounds (VOCs). Elastomeric foams are free of chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), and hydrofluorocarbons (HFCs), making them appropriate for even the most stringent environmental requirements.
Types of Elastomeric Foams
Natural Rubber/Latex: – Latex foam rubber is a lightweight sort of liquid latex that contains bubbles known as cells. The foam is usually made using the Dunlop or Talalay technique, which involves foaming liquid latex and then curing it in a mold to extract the foam. Structural upgrades can be added to foam by changing the polymers used in the foam or adding fillers. Latex foam’s energy absorption, thermal conductivity, and compression qualities make it ideal for a variety of commercial uses, including upholstery, soundproofing, thermal insulation (particularly in construction), and goods transportation.
Ethylene Propylene Dien Monomer (EPDM): – Propylene Ethylene Diene Monomer is made up of a number of chemical compounds in various quantities, with Ethylene accounting for the most. EPDM is a synthetic polymer with a flexible expanded closed-cell structure that is utilized in a variety of applications. EPDM closed cell sponge rubber has been progressively prevalent, owing to its exceptional resistance to damage, cuts, and rips. EPDM has a variety of properties that make it an excellent choice for a variety of applications, including chemical resistance, waterproofing, and high-temperature tolerance. Because of its high density, simplicity of application, and stability, it is widely utilized in the automotive and construction industries.
Nitrile Butadiene Rubber (NBR): – Nitrile Butadiene Rubber is a synthetic rubber made from butadiene and acrylonitrile (ACN). NBR is used to create gasoline and oil handling hoses, seals, grommets, and self-sealing fuel tanks in the automotive and aerospace industries. It’s utilized to produce protective gloves in the nuclear sector. The great temperature stability of NBR, which ranges from 40 to 108 degrees Celsius (40 to 226 degrees Fahrenheit), makes it a perfect material for aviation applications.
Applications
Elastomeric foam has been known for its exceptional insulating qualities and thermal protection. Elastomeric foam, which comes in a variety of forms and thicknesses, can be conveniently adjusted to fit snugly around a variety of equipment, from domestic plumbing to big commercial chillers. Closed-cell elastomeric foams that fulfill all code requirements, fire ratings, noise blocking, and efficiency norms can be used. This makes it a perfect material for insulating refrigeration systems, piping systems, HVAC systems, interior or exterior duct systems, industrial insulation, marine and offshore insulation, automotive insulation systems, solar module systems, pharmaceutical mechanical systems, etc. Moreover, Elastomeric foams do not contain any traces of CFCs, HCFCs, and HFCs, making them suitable for even the most rigorous environmental standards.
Asia Pacific region to lead the market
The Asia Pacific market has been reported to have the largest market share in the elastomer foam market. Owing to the increasing industrial developments and the demand for HVAC systems in manufacturing units, the market is expected to rise. Also, the increasing construction industry and rising disposable income among people in the region have positively influenced the elastomeric market. The growing population and climate changes in the region have increased the demand for HVAC systems in the region. Moreover, owing to the growing automotive industry in the region, and the developments in automotive technology, the elastomeric foam market is expected to rise in demand.
Daikin group, one of the largest air conditioning companies, reported an increase of about 40% in net profit, over the previous year (2021). Sales figures grew by about 25% in the period. With the technological growth in the sector, the company anticipates a strong growth in the Asia Pacific market. This promises a robust market growth for the elastomer market in the Asia Pacific region.
The United Kingdom has pledged to decrease greenhouse gas emissions by at least 80% by 2050, according to the Climate Change Act 2008. To reduce heating-related emissions, the United Kingdom has begun to invest heavily in low-carbon heating solutions. The low carbon heat pump is one of these heating choices. Low-carbon heat pumps have long been viewed as a cost-effective and efficient way to address climate change. The UK government has stated that 600,000 heat pumps will be installed by 2028. This would boost demand for elastomer foam insulation in the European market.
Covid-19 Insight
The outbreak of the COVID-19 virus led to a worldwide downturn in the economy. With most major countries implementing lockdown regulations, the elastomeric foam market suffered significant losses. Due to the closure of industries and manufacturing units, the market saw a lack of raw materials for the manufacture of elastomeric foam. Polymers, elastomers, and propylene were among the few materials that faced a lack of supply. The country-wide lockdown measures in China, and it being one of the largest industrial and manufacturing hubs, led to a decrease in the elastomeric foam market.
However, the market has been reported to be recovering, as most countries have lifted their lockdown protocols. Furthermore, with regions throughout the world reporting rising temperatures as a result of climate change, the HVAC industry is likely to grow in demand. This would also contribute to an increase in demand for elastomeric foam.
Elastomeric Foam Market Scope:
A Healthier Milk Choice: Oat Milk Market
BlogThe Global Oat Milk market size was valued at US$0.749 billion in 2022 and is anticipated to increase at a Compound Annual Growth Rate of 12.47% over the predictive period to reach US$1.705 billion by 2029.
Oat milk is plant-based milk produced by separating the plant material from entire oat grains with water. Oat milk is high in protein and other nutrients, rich in fiber and good for the gut. Oat milk comes in a variety of tastes, including sweetened, unsweetened, vanilla, and chocolate, and has a creamy consistency and light oatmeal-like flavor.
Growing Prevalence of Heart Disease & Environment-Friendly Farming Techniques
High temperatures, floods, droughts, and water scarcity have been reported in countries throughout the world. The increased prevalence of natural disasters is attributed to the consequences of climate change and global warming. Governments around the world have begun to enact legislation to limit pollution and decrease carbon footprints in order to combat the growing consequences of climate change. People all around the world are becoming more aware of the negative impacts of climate change, which is driving the development of more environmentally friendly alternatives.
Dairy farming is one such activity that contributes to global warming and also produces a lot of waste. Moreover, milk and its by-products contain a significantly higher amount of calories, as compared to other alternatives. The higher amount of cholesterol and fat percentage in milk has shifted the interest of consumers towards alternatives such as oat milk. A standard cup of whole milk contains about 24 milligrams of cholesterol and about 8 grams of fat, as compared to oat milk which contains no cholesterol and about 2.5 grams of fat (figures from USDA). Therefore, oat milk serves as a better alternative for people with a higher risk of heart disease. The increasing heart disease cases worldwide are also expected to drive the oat milk market. According to the American Heart Association’s 2022 Heart Disease and Stroke Statistics, 7.08 million individuals died worldwide from cerebrovascular disease in 2020 (Ischemic stroke caused 3.48 million deaths, 3.25 million deaths from intracerebral haemorrhage (ICH), and 0.35 million deaths from subarachnoid haemorrhage.). The American Heart Association also states that high BMI was responsible for 2.40 million deaths globally in 2020, an increase of about 131.46% from 1990.
Additionally, the increasing rate of allergies is also expected to drive the oat milk market. The growing instances of milk allergies in the younger population are expected to drive the oat milk market. According to a research report released in March 2022 by Food Allergy Research and education, self-reported allergic reactions from schools, including preschools, accounted for 7% of the total reports. In 35 states throughout the United States, 168 youngsters aged 1 to 18 had 173 school-based responses. Peanuts (25%) were the most commonly reacted to, followed by milk (19%) and tree nuts (16%). The increasing cases of allergies as reported in the research can be tackled by alternatives such as oat milk, which does not contain dairy or nuts, and is equally nutritious. Hence, with the growing prevalence of allergies, the market demand for oat milk is expected to rise substantially.
Recent Oat Milk Product Launches to Drive the Market
With the increasing reports of allergies among people and rising environmental awareness, the Oat Milk market has reported significant improvements.
Oatly Group AB has announced that its partnership with Espresso House has been extended and expanded to include all of the chain’s cafés. Together, the companies will offer about 130,000 visitors the chance to minimize their carbon footprint by switching from dairy to oat milk in their coffee.
Ripple announced the launch of its new Oat milk product in May 2022. Ripple Oatmilk+Protien is a gluten, GMO, soy, nut, and lactose-free alternative to traditional milk products. It packs a thick and creamy milk beverage that is plant-based and is known to contain half the amount of sugar in normal dairy milk.
In September 2021, Alt Co., a sustainable plant-based firm, announced the launch of new plant-based oat milk, that will be accessible across both online and offline platforms. The product has been quite popular since its introduction, owing to its healthy and vegan attributes.
Asia Pacific Region to Lead the Market
The Asia Pacific region is expected to hold the largest market share in the oat milk market throughout the forecast period. The market is predicted to grow as a result of factors such as the rising disposable income, and lifestyle preferences in the area. The increasing health awareness and the rising number of cardiovascular and heart-related diseases in the area have also contributed to the preference shift among people. Moreover, the growing e-commerce sector in the region has also had a positive influence on the oat milk market. Furthermore, the increasing adoption of environment-friendly activities and the awareness of climate change effects have also resulted in increased market demand. Hence, the market is anticipated to increase significantly in the forecasted period.
Covid-19 Insight
The outbreak of the COVID-19 virus led to an economic downfall on a global scale. Governments of most countries imposed strict lockdown and social isolation regulations, which led to significant losses faced by companies. The closure of many major industries also led to a slowdown in other dependent industries. The oat milk market also faced losses due to the disruption of major supply and production lines. However, the market rebounded quickly enough, due to the increase in demand. Increased market demand was fueled by rising intolerance and allergy rates, as well as other health-related concerns. Due to the disruption in supply lines, the sector was confronted with a considerable rise in market demand, resulting in an imbalance in supply and demand. However, the industry is projected to grow dramatically as governments begin to relax their COVID-19 laws.
Oat Milk Market Scope:
Versatile, Durable & Technologically Advanced Mechanical Keyboard
BlogThe global mechanical keyboard market is projected to witness a compound annual growth rate of 13.53% to grow to US$2,645.646 million by 2027, from US$1,088.489 million in 2020.
Mechanical switches are keyboards having spring-activated switches that provide the best performance and dependability when used in intensive tasks like gaming and typing. These keyboards improve the customer experience by aiding with accurate typing and key longevity. They are also one of the highest demanding keyboard kinds for gaming applications in various fields to features such as easy repair and replacement. Mechanical switches provide several advantages over typical membrane switches, including instant response and high efficiency. With the advancement of technology, a diverse variety of functional keyboards with both personally and professionally use has become available. It is gaining popularity in the retail market among the numerous sorts of keyboards. Spring-activated switches are commonly found on mechanical keyboards, and they are designed to meet the needs of the user. The global mechanical keyboard industry is likely to be hampered by the availability of low-cost touchscreen keyboards, technological alternative also including joysticks, and multi-function mouse. It improves the typing experience by allowing for more precise typing and a longer key life. It also allow for easy switch repair and replacement, which adds to their ease and cost effectiveness helps in the growth of the market in the upcoming years.
Using a Mechanical Keyboard and the Availability of Channel Distribution
The mechanical keyboard enables for comfortable hand, forearm, and wrist placement, whereas the curved key design allows for easy access to the keys, reducing stress while typing. The configuration of the keyboard also lowers the distance between some of the commonly used keys, which encourages users to use the mechanical keyboard because it can be used for a variety of tasks. Furthermore, prominent competitors in the market facilitate items via numerous distribution channels, extending the mechanical keyboard market’s global market footprint. Dell added the Cherry MX Mechanical Keyboard to the Alienware m17 R4, and Alienware m15 R4 Gaming Laptops in March 2021.
Technology Advancements Over Standard Membrane Keyboards
The mechanical keyboard has a longer key life and allows for more precision in typing, which improves the user experience; it also allows for quick switch maintenance and replacement, which adds to the mechanical keyboard’s ease and cost-effectiveness. Furthermore, it is more durable and responds quickly to key switches, boosting its functionality of mechanical keyboards over membrane keyboards.
Integration of a Variety of Devices and Functions in Order to Improve Functionality
Many industry competitors are providing advanced features like synchronizing, which allows keyboards and headsets to communicate effectively. Additionally, synchronization possibilities with a variety of mobile devices, including smartphones and tablets, allow for more efficient device use. Mechanical boards are becoming increasingly popular because of capabilities such as Cooldown modes, which allow for counting down on switches since the last press. Furthermore, unique features such as a built-in sensor or camera for motion detection, built-in software compatibility for voice recognition, and a small and silent design can help to increase the need for mechanical keyboards.
Availability of an Omni-Channel Distribution System
To increase their global market footprints, leading companies in the mechanical keyboard market their products through numerous distribution channels. This, in turn, makes items more accessible to consumers and propels the mechanical keyboard industry forward. In addition, corporations use wholesalers and merchants to enhance sales of their ergonomic keyboards on e-Commerce platforms like eBay, Buy.com, Amazon, CDW, Insight, PC Mall, Newegg.com, PC Connection, and TigerDirect.
High Cost of Mechanical Keyboards Is Projected to Stifle the Mechanical Keyboard Market’s Growth
Mechanical keyboards are frequently advertised as luxury items with additional features such as orientation, flexibility, and layouts, as well as software and cost. Basic mechanical keyboards cost between $50 to $90, whereas superior mechanical gaming keyboards cost over $200 and include advanced features and capabilities such as cordless and Bluetooth connections, antibacterial protection, and illuminated keys. As a result, these factors are projected to restrain the worldwide mechanical keyboard market’s growth in the coming years.
Gaming Sector Is Flourishing the Market Share During the Study Period of 2020 to 2027
Increased consumer demand in the gaming industry is also boosting market expansion. Mechanical keyboards are popular among gamers because they provide numerous advantages, like being more durable, quicker, and haptic.Professional gamers usually prefer wired keyboards since they are more suitable for gaming. The European video game market is expected to reach 23.3 billion euros in 2020, according to the Interactive Software Federation of Europe. They are more immediate to complex control combinations and have no lags. Users prefer wired keyboards because they don’t have to feel the need to change the battery, recharge the battery, or accidentally draining the battery while playing computer games or typing. The popularity of this sort of keyboard is high, and it is likely to grow in the future. Corsair, Azio, Logitech, Corsair, Alienware, Logitech, Razer, Roccat, and more businesses sell wired mechanical keyboards.
Linear Switches Segment to Boost Its Expansion
A linear switch’s goal is to generate a smooth and consistent actuation. It usually does so without generating sensory feedback, which is great for people who are susceptible to little bumps. If you don’t want the unpleasant sounds that occur with clicky switches, this is also a good option. These are the significant advantages of the linear switches segment that will drive its expansion in the global mechanical keyboard market throughout the forecast period.
Lowering PC Sales Are Expected to Stifle the Global Mechanical Keyboard Market’s Growth
Due to competition for smartphones and tablets, sales of desktop-based PCs have decreased dramatically in recent years. According to IDC, the country’s entire PC market will reach 14.8 million units in 2021. As a result, such factors are projected to stifle the worldwide mechanical keyboard market’s growth over the forecast period.
During the Forecasted Period, the Asia Pacific Region Will Show Robust Growth
The mechanical keyboard market, by geography, is divided into North America, Europe, Middle East and Africa, Asia Pacific and South America. The Asia pacific region holds the largest share and is predicted to grow at an increasing rate in the Mechanical Keyboard market. Major mechanical keyboard manufacturers are concentrating their efforts in Asia Pacific countries such as India and China. Increased government investments in digitization infrastructure have prompted various enterprises to increase their profits in these countries. The mechanical keyboard market is seeing substantial expansion due to sustained growth in these regions, as well as the continued use of advanced technology such as the Internet of Things (IoT) and a growing gaming population.
Rapid economic growth in countries like the United States, Canada, and Mexico, as well as prolonged use of innovative technologies like the Internet of Things (IoT), and a growing gaming population, the North American region holds the major share and is expected to grow at the fastest rate in a forecast period.
The Impact of the Outbreak of COVID-19 on the Mechanical Keyboard Market
The COVID-19 epidemic has projected to cause a moderate slowdown in the industry. Production has comes to a standstill as a result of workforce shortages. The end-use industries saw a major drop in demand as a result of this. Due to an increase in disposable money, increased internet penetration, and strong growth in the esports industry, the mechanical keyboard market has already been booming.. During the propagation of the COVID-19 virus, the stock market experienced a sharp increase. The infection was contained by a lockdown, and the acceptance of virtual as well as online operation modes and amusement resulted in a boom in the simulated gaming business. Mechanical keyboard demand grew significantly as a result of these factors. Furthermore, as digital channels became more prevalent, internet usage expanded in order to support the newly accepted working infrastructure.
Global Mechanical Keyboard Market Scope:
Automatic Power Factor Controller- Powering your Future
Thought ArticlesThe automatic power factor controller market was valued at US$3.166 billion in 2022 and will increase to US$4.559 billion by 2029. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 5.32%.
An automated power factor controller is a device that automatically boosts output power when the power factor falls below a certain level. The need for electricity is steadily increasing. Furthermore, as a low power factor puts an undue burden on power grids and transmission lines, demand for a system that automatically improves the power factor is growing. This demand can be met by using automatic power factor controllers. The automated power factor market is growing due to its ability to dramatically reduce energy loss as the global focus on reducing energy usage develops.
According to analysts, the growing demand for power management in certain industrial applications will be the driving force behind the market’s robust growth over the forecasted timeframe.
The rising demand for automation technology and the augmentation of industrial facilities to improve energy efficiency will undoubtedly enhance the automatic power factor controller market over the forecast period, as will the increasing need for energy conservation in homes and industries to reduce power loss. And on the other hand, the development of updated and sophisticated infrastructure will give numerous opportunities for the automated power factor controller market to grow throughout the forecast period. One of the primary driving forces for the automatic power factor controller market is the growing demand for power management in industries like manufacturing, military, commercial, utilities, and enterprise. Power management is used in computers, graphics processing units (GPUs), and computer peripherals to reduce power supplies, leading to a more efficient power supply for these devices. When APFC is installed in these industries, it decreases energy bills by reducing the quantity of power used. Most utility sectors, such as power plants and transformers, require reactive power factors, and power loss minimization is one of the most significant requirements. This would prevent electrical equipment from being damaged, and owing to the aforementioned reasons APFC is expected to witness rising demand during the forecast period.
The automatic power factor controller’s market expansion could be hindered by the high cost of maintenance associated with its infrastructure.
The expensive cost of installing and maintaining automatic power factor controllers is a major impediment to the market’s expansion. Due to its high cost, repairing the old one is not cost-effective. The global market for automated power factor controllers is being held back by high maintenance costs and technical constraints related to extreme energy volatility. The cost of designing and manufacturing APFC panels is high due to the addition of large-capacity inductors and capacitors for low-frequency filtering. Industrial and commercial equipment is expensive and requires a one-time expenditure. Furthermore, they have a short service life of 8 to 10 years and must be replaced regularly. They are also easily harmed if the voltage is too high.
During the projected period, the Active APFC segment is expected to grow rapidly in the Automatic power factor controller market.
By Type, the Automatic power factor controller market can be segmented into Active Automatic Power Factor Controller and Passive Automatic Power Factor Controller. Amongst the two types, the Active Automatic Power Factor Controller segment is likely to occupy a substantial share. The adoption of Active Automatic Power Factor Controller by many industries such as commercial, manufacturing, military, utility, and others has contributed to the expansion of this sector. Furthermore, active components such as diodes and transistors are used in the Active Automatic Power Factor Controller, allowing engineers to achieve a high-power factor of 0.99. As a result of the high precision of power superiority, most industries choose Active Automatic Power Factor Controller. There are two types of active APFCs: single stage and multi stage. Single-stage power factor controllers employ a single switch and controller to correct input current and maintain output voltage, whereas multi-stage power factor controllers use two or more power stages to decrease input current harmonics.
During the predicted period, the microcontroller segment is anticipated to expand rapidly in the Automatic power factor controller market, followed by switch and display.
Based on the components Relays, microcontrollers, capacitors, resistors, switches, and displays make up the Automatic Power Factor Controller Market. The need for inductive load is expanding in the period of industrialization, and power system losses are a common occurrence. As a result, demand for APFC microcontrollers is expected to rise over the forecast period. Due to its ease of managing electricity flow, the APFC switch is another important segment that is expected to expand in demand throughout the projection period. Furthermore, the Display segment is expected to grow. The power factor, voltage, current, harmonics, active and reactive power, and apparent power value are all presented on displays. Various types of displays, including LED displays and LCD screens, are employed in the automatic power factor control panel.
During the forecast period, the utility sector is expected to grow fast in the Automatic power factor controller market.
Manufacturing, Utility, Commercial, Enterprise, and Military are the end-user industries that make up the global market. In the forecast period, the Utility Industry is anticipated to occupy the largest share of the global market, and it is expected to continue to do so. Reduced power loss in distribution systems, the superiority of reactive power, and the protection of electronic equipment from destruction are all elements that contribute to the sector’s growth. Moreover, the utility industry is committed to improving the power factor. Furthermore, the manufacturing sector has been gaining market share over time, which is projected to boost APFC demand.
During the forecast period, the Automatic power factor controller market in North America is predicted to have a dominating share, followed by the Asia Pacific.
The Automatic power factor controller market is classified into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The North American market is expected to account for the largest revenue share in the global automated power factor controller market over the projected period. Because of the existence of major players in the area, this is the scenario. Due to growing urbanization, and industrialization, in the region, revenues from the Asia Pacific market are expected to grow at a significant rate throughout the projected period. The rising demand for automated power factor controllers in the Asia Pacific is expected to enhance the global market. In the coming years, growth in infrastructural investment in the Asia Pacific is expected to maintain the region’s dominance. The adoption of automatic power factor controllers to help reduce inefficiencies in electric systems and maintain the power factor is increasing the demand for power management devices. South Korea, Japan, India, and China are just a few of the Asia Pacific countries that could further boost the global automated power factor controller market.
Covid-19 Insights
The impact of COVID-19 on the automatic power factor controller business has been unfavorable as a result of various precautionary lockdowns and other limitations imposed by governments around the world, and substantial disruptions in their manufacturing and supply-chain activities. Moreover, consumer demand has declined as people have been more concerned about cutting non-essential items from their budgets as the epidemic has negatively impacted most people’s overall economic status. The aforementioned factors are projected to have an impact on the revenue trajectory of the global automatic power factor controller market throughout the forecast period. As various regulatory authorities begin to lift these imposed lockdowns, the global automatic power factor controller market is expected to rebound.
Optical Measurement – A Verified Method for Evaluating the Precision and Quality of Various Physical Objects
BlogThe optical measurement market is expected to grow at a compound annual growth rate of 6.06% to reach a market size worth US$6.310 billion by 2026. This market was valued at US$4.180 billion in 2019.
An optical measurement system is electrical measuring equipment used to determine the characteristics and physical structure of numerous things. It’s a noncontact, quick, accurate, and dependable method. This device also has a light source, a lens, and a single detector. Some of the most regularly used optical measurement systems around the world include autocollimators, measuring microscopes, profile projectors, optical digitizers and scanners, coordinate measuring machines, and video measuring machines. These solutions are used to measure various components during the creation, inspection, and evaluation of products to verify that they fulfill demanding industry standards and regulations, allowing the product to perform at its best.
One of the key factors to favorably impact the market expansion of optical measurement in the forecast period is growing industrialization coupled with technological developments and increased investments in research and development activities to produce better goods.
Technological improvements have aided the growth of a variety of businesses and as a result of these advancements, many companies are leaning toward automation in order to provide high-quality products. Optical measurement tools are used by many firms in a wide range of industries to ensure product accuracy during the manufacturing process. The increased focus on the creation of high purity grade products in the pharmaceutical and chemical industries is predicted to enhance demand for optical measuring devices. Because of their advantages such as fast speed and greater precision, video measurement machines (VMM) have recently seen an increase in demand. In the coming years, advances in science and technology are likely to boost the market growth. For example, Yokogawa, a major manufacturer of test and measurement solutions, announced the launch of the AQ6374, an Optical Spectrum Analyzer (OSA) designed to create next-generation optical communication components, in September 2021.
One of the primary factors likely to favorably impact market growth in the near future is rising expenditure in research and development activities to introduce new goods. For instance, Polytec introduced 3D optical profilers in July 2020, which may be used to assess roughness, step heights, texture, waviness, and other surface characteristics.
The increase in demand for 3D metrology services is a major factor driving market growth. 3D metrology services are a tried and tested way for evaluating the precision and quality of a wide range of physical things. These services are gaining popularity in a variety of industries, including aerospace and defense, automotive, architecture and construction, medical, semiconductor and electronics, mining, and others, because of their accuracy and reliability. Optical measuring market growth is estimated to be driven by the rising usage of these services over the forecast period. Increased industrialization around the globe, particularly in developing nations such as India and China, is expected to propel the optical measurement market forward, as an advanced industry will increase demand for optical measuring instruments in a variety of industries. During the projected period, the adoption of Industry 4.0 will speed the automation process in manufacturing technologies, which will boost market growth for optical measurement tools.
Analysts predict that high price sensitivity associated with optical measurement systems can act as a constraint for market growth at a global level.
The optical measurement industry is a price-sensitive industry, with demand for optical measurement tools fluctuating in lockstep with their prices. Because of the market’s price sensitivity, companies will be unable to raise the prices of optical measurement instruments without severely impacting demand. As a result, market expansion may be hampered throughout the projection period. The market will also be challenged by the development in rental and leasing services. Other market restraints include expensive investment and operation costs, as well as the use of fragile components, which would stifle the optical measuring industry’s growth pace.
By offering, the hardware segment is expected to grow significantly whereas, by industry vertical, the automotive segment is anticipated to witness fast growth.
The global optical measurement market has been classified into software, hardware, and services based on offering. The hardware segment is expected to hold a notable share throughout the forecast period. This growth is attributed to rising demand for cameras, sensors, and lenses, as well as increasing adoption of optical measurement devices in the chemical and automotive industries. Because optical measurement tools are used for inspection, measurement, and quality checking of numerous components in the automotive industry, it is predicted to hold a significant market share by the industrial vertical. Apart from their various uses in the healthcare business, an increase in the number of patients with an eye-related disease is predicted to boost the usage of optical measuring tools for diagnosis purposes.
According to regional analysis, the optical measurement market in North America is likely to account for the largest revenue share throughout the forecast period, while the market in Asia Pacific is anticipated to grow at the fastest rate.
Some of the important reasons driving market growth in North America are technological improvements in the automotive industry, the presence of prominent firms in countries such as the United States, and the increasing utilization of optical measurement devices in the aerospace sector. On the other hand, because of the widespread deployment of optical measurement technologies in a variety of industries, the Asia Pacific region is expected to occupy a significant market share. Manufacturers’ increased adoption of advanced precision measuring technologies, combined with a growing focus on the accuracy and reliability of manufactured products, is expected to fuel market expansion in the region.
Covid-19 Insights
The coronavirus pandemic has had a negative impact on a number of sectors around the world. The virus outbreak had a negative influence on industries such as automotive, aerospace and defense, energy and electricity, and manufacturing. These industries’ commercial operations were halted, which had an impact on the optical measurement market’s growth. The healthcare industry, on the other hand, was on the rise as a result of the growing demand for healthcare facilities around the world, which generated demand for the optical measuring market.
Optical Measurement Market Scope: