The global membrane separation technologies market was valued at US$2.349 billion in 2020 and will increase to US$4,709 billion by 2027. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 10.44%.
Membrane separation, often known as membrane filtration, is a filtering method for removing suspended particles and other materials from water or other media. The permeability of the membrane, its relative concentration, and the force with which the particles are transmitted through the membrane all play a role in particle separation through membranes. Membrane separation techniques can be used to separate big molecules, microscopic molecules, as well as ions & salts. In comparison to other separation & filtration procedures, the membrane separation approach has the advantage of requiring less energy and fewer chemicals.
According to analysts, the increasing demand for membrane separation technologies owing to the increasing depletion of water resources and contamination of water will be the driving force behind the market’s robust growth over the forecasted timeframe.
Increased application in water and wastewater treatment, as well as increased demand from the food, pharmaceuticals, and other processing industries, are the primary factors driving the market considered. With the global shortage of fresh water and rising liquid waste, water recycling and efficient treatment of industrial wastewater is expected to become more important to meet industrial, commercial, and residential demands while also having a positive impact on the environment. Furthermore, the food and beverage processing industry’s future economic growth, as well as a wide range of membrane separation applications such as microbe removal, dealcoholizing, aroma retrieval, volume reduction, preferential fractionation, and other novel ingredient processing, are expected to create huge opportunities for the membrane separation technologies market.
In addition, industry members are commissioned with various R & D tasks in collaboration with research institutes to improve and stimulate membrane manufacturing technology. Utilizing the power of 3D printing, it will also be possible to produce specially designed and molded films in a more specific way than the various film manufacturing techniques currently available. The US Food and Drug Administration (FDA) has suggested the use of RO prefiltration in the food and beverage industry to reduce the risk of biofilm formation. This will make membrane separation techniques more attractive over the years to come.
Many significant competitors are employing strategic investments and alliances to satisfy this progressive paradigm shift and customer needs, increasing market growth. For instance, G2O Water Technologies, a UK technology company, recently concluded an equity investment round in July 2021, with new and existing investors supporting the company’s expansion. G2O’s novel graphene oxide coating products, which minimize the economic and environmental costs of water treatment, have gained significant popularity, with a fast-expanding pipeline of opportunities in industries as diverse as industrial, oil and gas, f&b, and domestic water filtration. Furthermore, Toray Industries Inc. announced in June 2021 that it had created a dual all-carbon-fiber carbon dioxide separation membrane. A hollow/porous carbon fiber serves as a support, with a thin carbon fiber membrane separating the layer on top.
Global membrane separation technologies’ market expansion could be hindered by issues like fouling.
Fouling is a big issue that hurts the company’s operations. Its efficiency and flow are reduced, resulting in higher energy consumption and deterioration of the water and stream quality. To remove contaminated items, the only options are chemical cleaning or replacement, both of which come at a high cost. Because of these expenses, applications and acceptance are restricted to specialized industries, limiting the market growth. The high cost of equipment, the transfer of the end-use market from developed to emerging countries, and the rising cost of production all stifle the market’s expansion globally.
The reverse osmosis segment of the global membrane separation technologies market is expected to have a dominant share throughout the estimated time frame.
Reverse osmosis membranes typically have a particle size of less than one nanometer and are utilized in the manufacture of ultrapure water, landfill leachate remediation, and seawater desalination. Traditional thermal desalination technologies such as Multiple Effect Distillation and Multistage Flash Distillation have a much lower recovery rate than reverse osmosis. As a result, in saltwater desalination plants all over the world, reverse osmosis technology is continually displacing the thermal desalination process.
The synthetic polymer membrane segment of the global membrane separation technologies market is estimated to grow quickly over the forecast period.
Since the middle of the twentieth century, synthetic membranes have been successfully employed for small & large-scale industrial processes, and they are the most widely used. In general, synthetic polymer materials have a wide range of forms and properties. They’re most typically employed for UF, but they’re also used as support substrates in NF and RO processes. The market sector is driven by these materials’ superior permeability, permeate selectivity, mechanical stability, and chemical resistance.
During the projected period, the food & beverage segment is expected to grow rapidly in the global membrane separation technologies market.
With greater awareness & information accessibility, the population’s consumption patterns are predicted to shift toward healthier, more nutritious, and cleaner foods, resulting in rapid food and beverage sector innovation and research and development. Membrane separation technologies such as microfiltration, ultrafiltration, nanofiltration, and reverse osmosis (RO) are expected to drive the market for membrane separation technologies in various food categories such as milk standardization, vegetable oil refining, gluten production, and so on, as demand for food rises. Consumers in the twenty-first century face environmental pollution, stress, society, and health concerns, according to the May 2021 International Journal of Environmental Research and Public Health, functional foods can promote mental and physical health. The membrane separation technology market is also expected to grow as the f&b sectors innovate.
During the forecast period, the global membrane separation technologies market in the Asia Pacific is predicted to have a dominating share.
Rising water contamination and growing environmental concerns are driving this growth, which is fueled by businesses including mining, chemicals, and metal processing. In 2015, China’s government announced the “Water Pollution Prevention and Control Action Plan” to keep extremely polluting industries like chemicals and pulp and paper from damaging water supplies. The adoption of this action plan is projected to augment membrane separation technologies in China by promoting wastewater treatment. Furthermore, the Asia-Pacific area is home to the world’s largest manufacturers of various membrane technology. TORAY INDUSTRIES, INC, Asahi Kasei Chemicals Corporation, DuPont, NITTO DENKO CORPORATION, and Samco Technologies, Inc. are some of the top manufacturers of membrane technology.
Covid-19 Insights
The COVID-19 pandemic has had a detrimental impact on the membrane separation technologies market, as demand for membrane filtration has decreased while operations in the food processing industry have temporarily ceased. Furthermore, with the shutdown of companies, there was little to no wastewater generated, resulting in a drop in membrane filter demand. As a result of the global COVID-19 regulations, fewer people have bought drinking water, which has damaged the operations of mineral water distributors, resulting in a drop in the market for food and beverage membrane separation technology. The medical and pharmaceutical industries, on the other hand, used membrane filtration extensively in creating procedures to test N95 replacement masks, extract RNA, and concentrate viral proteins from liquid media, propelling membrane separation technology forward.
Global Membrane Separation Technologies Market Scope:
| Report Metric |
Details |
| Market size value in 2020 |
US$2.349 billion |
| Market size value in 2027 |
US$4.709 billion |
| Growth Rate |
CAGR of 10.44% from 2020 to 2027 |
| Base year |
2020 |
| Forecast period |
2022–2027 |
| Forecast Unit (Value) |
USD Billion |
| Segments covered |
Membrane Material, Pore Size, Application, And Geography |
| Regions covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered |
3M Purification Solutions, APPLIED MEMBRANES INC, SUEZ, DuPont and Dow, Merck Group, Evoqua Water Technologies LLC, GEA, Hyflux Group, Koch Industries, Inc, Pure Aqua, Inc |
| Customization scope |
Free report customization with purchase |
Revenue Cycle Management – The Right Choice for Your Health Care Needs
Thought ArticlesThe revenue cycle management market was valued at US$140.220 billion in 2022 and will increase to US$288.287 billion by 2029. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 10.87%.
The financial procedure of tracking patient care cycles from registration and appointment scheduling to final balance payment using medical billing software used by healthcare organizations is referred to as revenue cycle management (RCM). Patient registration, medical programming, insurance eligibility & verification, payment, and AR management, as well as claim processing, are all part of revenue cycle management. Patients, billing agencies, healthcare professionals, and insurance payers are the four most important RCM components.
According to analysts, the increasing demand for revenue cycle management owing to the increasing demand for proper healthcare revenue management will be the driving force behind the market’s robust growth over the forecasted timeframe.
Advanced RCM solutions are in high demand due to the fast-rising era of digitalization in healthcare. In healthcare settings, the growing number of various data silos and disorganized workflows is paving the way for market growth and development. As the healthcare industry continues to evolve at a rapid pace, the necessity for good healthcare infrastructure systems has evolved. The demand for effective management systems in hospitals, as well as the medical area, is propelling the revenue cycle management market forward. According to a study published in the American Journal of Medicine in 2020, around 80% of medical billings in the United States featured at least one inaccuracy, driving up the demand for revenue cycle management. Due to rising patient volumes and the digitalization of administrative, clinical, and financial data, the volume of electronic data created in the healthcare business has reached terabytes. In hospitals and healthcare facilities, this needs the deployment of proper revenue cycle management software. AI’s potential to optimize clinical and non-clinical procedures, hence eliminating a slew of problems for patients, providers, and the health industry as a whole, is propelling its adoption in the field. Integrating Artificial Intelligence with RCM can result in several significant improvements in the overall management of the healthcare infrastructure. During the forecast period, the use of RCM in conjunction with AI is likely to boost the revenue cycle management market. To expand market share, market participants use a variety of techniques such as mergers, acquisitions, collaborations, partnerships, and expansions. Cerner Corporation, for example, announced the sale of Cerner RevWorks, its RCM outsourcing business, to R1 RCM Inc. in June 2020. This is expected to aid in the integration of both firms’ technological platforms and expand R1’s RCM capabilities. As a result, the aforementioned factors are projected to drive the market throughout the forecast period.
Revenue cycle management’s market expansion could be hindered by issues like high maintenance costs.
Maintaining revenue cycle management systems up to date comes at a high price. IT support and maintenance services, which include adapting and updating software to meet changing user needs and maintaining a functioning IT infrastructure, are also recurring expenses. This accounts for a sizable chunk of the entire ownership cost. Furthermore, establishing bespoke interfaces for device integration after the sale necessitates additional testing and validation to assure solutions’ integrity and completeness. As a result, the overall cost for healthcare providers will increase even more. Due to the high expenses of replacing existing systems with RCM solutions, small healthcare facilities, particularly in developing countries, are unwilling to do so.
The claims and denial segment of the revenue cycle management market is expected to develop at a swift speed.
The assessment of the denial procedure is part of claims and denial management. The root cause analysis for the claim being refused by the insurer is done by solution providers of denial and appeal management. This entails going over the patient’s paperwork and resubmitting the claim. Third-party solution providers are frequently used by hospitals and medical care institutions that lack expert personnel. These firms, which have a thorough understanding of and familiarity with insurers’ provider standards, contact insurers with explanations and payment requests. A big portion of hospital revenue is being lost as more healthcare institutions come under more scrutiny and the number of healthcare claims rises. According to the US Justice Department, cases involving healthcare fraud and false claims in the United States recovered more than US$ 2.6 billion in 2019, up from US$ 2.5 billion in 2018 and US$ 2.1 billion in 2017. Furthermore, BKD CPAs & Advisors announced a new service in November 2020 geared at assisting clients in identifying and avoiding insurance denials. Annually, avoidable insurance claim denials might cost a company 3 percent or more of its net revenue. Companies that provide claims denial and appeal services have become more significant to hospital facilities as their acceptability has grown. As a result, these facilities will contribute to the market’s growth over the forecast period.
The cloud-based segment of the revenue cycle management market is estimated to grow at a significant pace.
Due to enhanced flexibility and cost-effectiveness for end-users, the cloud-deployed category is expected to develop at the fastest rate in the coming years. Medical data sharing has become simple and secure thanks to cloud-based solutions. It streamlines backend procedures and makes it possible to create and secure telehealth apps. In addition, cloud-based solutions save healthcare organizations money by allowing them to deal with electronic health records, patient registries, big data analytics, and mobile applications without incurring additional costs for server maintenance. To improve resource procurement, infrastructure dependability, and operations, cloud-based technologies have been developed.
During the projected period, the hospital segment followed by the physician’s office is expected to grow at a fast-moving pace in the revenue cycle management market.
In terms of market value and share, the hospital segment is expected to dominate. This segment’s dominance is due to an increase in patient admissions, which results in more revenue for hospitals. Hospitals use this solution to efficiently manage the revenue collection process, resulting in the segment’s growth during the study period. According to a poll conducted by AKASA in 2021, more than 78.0 percent of hospitals in the United States are employing this service. Furthermore, RCM services are heavily employed in the Physician’s back office. Practice management systems are being used more in medical offices in the United States, as per the Association for Service Management International. Physicians and their personnel, including nurses, consultants, and management staff, use these technologies regularly to help their units run well. The market for revenue cycle management is likely to be driven by the growing focus on expanding number of physicians and other health care facilities across the area.
During the forecast period, the revenue cycle management market in North America is predicted to have a dominating share.
The expanding presence of physician’s offices in the United States accounts for a high revenue portion of the market. Regulatory reforms, such as the ICD-10 modifications in 2015, have resulted in information technology in healthcare systems, with a considerable increase in demand for healthcare IT services including revenue cycle management systems to improve efficiency and care delivery. Furthermore, the region’s market benefits from the existence of major, well-known healthcare institutions and well-established treatment centers, as well as the growing demand to reduce healthcare costs and favorable regulations.
Covid-19 Insights
The emergence of the COVID-19 pandemic has had a significant impact on RCM’s medical market expansion. During the pandemic, the increasing pace of activity in the healthcare and medical sectors enhanced market demand for revenue cycle management solutions. As of February 2022, more than 420 million COVID-19 cases had been identified throughout Europe, the Asia Pacific, the Americas, Africa, and Oceania, according to WHO data. The daily increase in COVID cases in hospitals & healthcare facilities enhanced the need for proper and improved management of medical infrastructure, resulting in increasing demand for RCM solutions in the medical area.
Semiconductor Dry Etch Systems Market size worth US$22.019 billion by 2029
Press ReleasesThe semiconductor dry etch systems market is projected to expand at a CAGR of 4.93%, with the market size anticipated to increase from US$15.718 billion in 2022 to US$22.019 billion in 2029.
The market for semiconductor dry etch systems is anticipated to be driven by factors such as the growing demand for advanced electronic devices that will need innovative and efficient semiconductors fabricated using the semiconductor dry etch systems. Also, the growth is prominent in the market due to advancements in semiconductor fabrication techniques which has significantly improved the device efficiency and reliability.
As per the report, the semiconductor dry etch system market is expected to grow significantly.
The semiconductor dry etch systems are used for fabricating the semiconductors during their production process which are further used to pattern thin films of deposited materials on them. These dry etch systems use several etching techniques such as DRIE or deep reactive ion etching and RIE reactive ion etching to fabricate the semiconductor devices and provide more efficient smooth functioning to the end-use industries of semiconductors when integrated into their devices. The growth in applications for semiconductors is directly proportional to the growth in the demand for semiconductor dry etch systems as these are necessary to complete the production process for semiconductors and to meet the rapidly growing demand of semiconductors the production process for the must be smooth and efficient that can be done using several etching techniques. For instance, in Apr 2023, to boost the production capacity of etching systems for its semiconductor manufacturing equipment business, Hitachi High-Tech Corporation announced that it would build a new production facility in the Kasado Area of Kudamatsu City, Yamaguchi Prefecture. Production is expected to start in FY2025.
There is a significant rise in applications for semiconductors across the globe in several different end-use industries including consumer electronics and the automotive industry, especially in the EV or electric vehicle segment. To meet this demand the production process should be proficient for the semiconductors which can be achieved by using the techniques of semiconductor dry etch systems that make the process smooth and efficient. The demand for smartphones has seen significant growth in recent times with high-speed networks like 5G technology and growth in GDP globally that has enabled people to have disposable income that can be spent on expensive consumer electronics like smartphones and laptops. Also, the growing popularity of electric vehicles globally is impacting the market positively as they also need semiconductors to complete the production process of electric components of the vehicle and with government promoting EVs across the globe due to their eco-friendly features the demand for semiconductors will grow proportionally that is expected to positively impact the semiconductor dry etch systems market.
The semiconductor dry etch system market can be divided into two types: dielectric etching and conductor etching. Conductor etching is predicted to contribute significantly to the semiconductor dry etch systems market growth when compared to the dielectric etching products that are also prevalent in the market but not so much when compared to conductor etching. The complex layers and patterns found in semiconductor devices that use insulating elements like silicon dioxide and silicon nitride are removed through the dielectric etching process. Hence, the different types of semiconductors dry etch systems available in the market are predicted to propel growth in the market.
Based on application, the semiconductor dry etches systems are segmented into logic & foundry, MEMS, sensors, power devices, and others. The logic & foundry segment is predicted to increase at an exponential rate in the market. Several semiconductor devices including integrated circuits, memory chips, and microprocessors are used for different types of electronic devices such as smartphones and laptops that cater to each product’s needs that are different, hence, these devices are part of logic and foundry applications which are driving the demand for semiconductor dry etch systems. Therefore, the wide variety of applications for semiconductor dry etch systems is anticipated to propel growth in the market.
The market for semiconductor dry etch systems is expected to show prominent growth in the Asia-Pacific region because the need for accurate and effective etching techniques has increased due to the widespread use of electronic devices and developments in semiconductor technology with the rise in population and growth in economies and GDP in countries like Japan, India, and China in the region. The region’s market is expanding as a result of the emergence of major players in the semiconductor manufacturing industry, including China, South Korea, Japan, and Taiwan. Several leading semiconductor manufacturers in the industry are present in the Asia Pacific region, hence, the market for consumer electronics is growing rapidly with the growth in population in the Asia Pacific region with the highest populated countries present such as India and China. Also, the research and development investments made through private organizations or by government grants are rising and with them, the need for semiconductor production to be higher to meet the rising global demand is growing proportionally which are all contributing reasons for this rise in demand for semiconductor dry etch systems. Therefore, these factors are contributing to grow the semiconductor dry etch systems market in the Asia Pacific region over the forecast period.
The market for semiconductor dry etch systems is supported by key players such as Toppan Inc., Applied Materials Inc., Hitachi High Technologies America, Inc., Lam Research Corporation, Tokyo Electron Limited, Plasma-Therm LLC, CVD Equipment Corporation, SPTS Technologies Ltd., Panasonic Industry Co., Ltd., DISCO Corporation.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/semiconductor-dry-etch-systems-market
This analytics report segments the semiconductor dry etch system market on the following basis:
Market Segmentation:
Increased Spray Adhesive Market Growth and the Rising Demand from End-User Industries
BlogThe spray adhesive market is expected to grow at a CAGR of 7.51% over the forecast period to reach a total market size of US$6.334 billion by 2027, increasing from US$3.816 billion in 2020.
Due to the increasing demand from the end-user industries, the market for spray adhesives is anticipated to rise in the coming years. The development of these industries and the emergence of a diver product range along with the expansion of the market will be highly beneficial for the segment’s future growth. The spray adhesive market is likely to rise as the construction industry expands. In addition, increased investment in the construction and building sectors, as well as the development of the packaging industry in emerging areas, are likely to fuel market growth. As the public becomes more aware of the risks of volatile organic compounds, the usage of solvent-based spray adhesives is projected to decline, while the use of hot melt and liquid solutions will increase.
Over the projected period, the increased usage of spray adhesive in the vehicle sector for repairing signboards and other internal decorations is likely to fuel market demand.
These are commonly utilized in the manufacture of many sorts of furniture. Furthermore, throughout the assessment period, the growth of the woodworking sector in developing nations is likely to boost the market growth. The continuous demand for spray adhesives from numerous application industries, including manufacturing, building, and automotive, may be attributed to the expansion of the global market for spray adhesives. Furthermore, spray adhesives from the sector of foods and beverages for healthy packaging of food products is another element assisting market expansion.
Additionally, rising market participation in the form of collaborations and product launches to further promote the adoption of the spray adhesive to enhance their market share is further enhancing the market’s potential possibilities throughout the projection period. For instance, In July 2021, HB Fuller, a worldwide adhesives provider, established a strategic agreement with Covestro, one of the world’s top polymer suppliers, to assist firms in reducing the environmental effect of woodworking, composites, textiles, and the automotive sector. Additionally, Henkel Corporation as well as the FreeDM Systems Engineering Research Center established a new collaboration agreement in February 2021 to explore the influence of materials technology on applications of power electronics.
In the projected period and the next years, transportation is highly influencing the market’s growth
With growing security concerns and increased commercial usage of airplanes as a mode of transportation, demand for aircraft has increased globally. Various aircraft orders have been aligned for shipment in the future years because of this. Spray adhesives are needed for a range of transportation applications. These adhesives are primarily employed in automobile and aircraft interior trim applications. Furthermore, 3M is a global business based in the United States that operates in the domains of manufacturing, worker safety, medical services, and consumer products. It provides transportation adhesives that are categorized into three categories. Hot melt adhesives, water-based adhesives, and solvent-based adhesives are a few examples. All of these product lines are suited to the transportation sector and offer a varied product line. 3M Sprayable Hot Melt Glue 6111 is a heat applied, 100% solid, a sprayable adhesive that provides a quick and clean alternative to aerosol, contact, and solvent-based adhesives. It adheres to a wide range of surfaces, including polymers with low surface energy (LSE). It is ideal for big-area construction and does not harm heat-sensitive materials such as foam, polystyrene foam, and polyethylene. A result of such a diverse product range and the rise of the transportation industry will positively influence the market.
Due to the rise of the construction industry, the market for spray adhesive will witness high demand
The construction industry is expanding globally as a result of growing disposable income and increased government measures to stimulate residential building and infrastructure development. The improved economic circumstances in many areas of the world are likely to be one of the primary drivers of demand for spray adhesives for the construction industry, contributing to market expansion in the coming years. Furthermore, Sika AG, located in Baar, Switzerland, is a Swiss multinational specialty chemical firm that services the construction and automotive industries. The firm creates and manufactures bonding, sealing, damping, strengthening, and protective systems and products. SikaBond SprayFix, a multifunctional, high-performance aerosol spray adhesive that can be utilized for both interim and permanent bonding applications, is available from the firm. It is comprised of synthetic polymer and may last up to two years if stored properly. They must be kept in their original, undamaged packaging, dry, and out of the bright sun, at temperatures ranging from +10°C to +25°C. Therefore, due to the availability of innovative products by companies applying for the construction industry, this segment will majorly boost profitability for the market.
According to analysts, the Asia Pacific region is expected to occupy a notable share of the market in the coming years.
The Asia Pacific region accounts for a sizable part of the worldwide spray adhesives market, which is expected to expand at a healthy rate over the forecast period. This expansion may be ascribed to the existence of large market participants, as well as the region’s established automotive sector. The Asia Pacific spray adhesive market is expected to grow at an exponential rate due to the rising transportation and construction industries in emerging nations such as India and China. Furthermore, the presence of cost-competitive labor and raw materials is a significant factor behind the region’s market expansion.
Spray Adhesive Market Scope:
Surface Inspection: A Leading Process for Quality Assurance
BlogThe surface inspection market is projected to grow at a CAGR of 6.55% during the forecast period to reach US$5.911 billion by 2027, from US$3.792 billion in 2020.
Surface inspection is a process that involves the use of angled lighting, smart cameras, software, and equipment to detect and correct surface defects. This process involves surface examination, to find potential defects, flaws, or any irregularities in the product. Industries that thrive to achieve quality and perfection by detecting the flows in their end products are creating higher demand for surface inspection in the market. Surface inspections can support detecting impairment in functionality and component. Henceforth, this process aids in the optimization of production operations as part of quality assurance.
The central aspects driving the surface inspection market are quality assurance in the growing electronics sector, developments in the automotive sector, and innovative new launches.
The market is expanding due to the rising demand for surface inspection systems in the electronics industry. To meet quality standards in the electrical and electronics industries, high-performance and cutting-edge inspection systems are needed. In the electronics industry, surface inspection systems are used to find flaws in circuit boards, optical-line width management, wafer management, and other components. Over the anticipated time, the surface inspection market is expected to increase because of all these aspects and benefits.
Furthermore, the growing automotive industry is expected to propel the market for surface inspection in the forthcoming years. Owing to high consumer expectations and flawless surface experience in their newly bought cars, quality assurance, and surface inspection has become an important part of the automotive industry. Moreover, even minimal scratches or paint defects on the product or any add-on parts such as bumpers or B-pillars can lead to expensive complaints and deterioration of the company’s image. Further, faulty curved displays or mirrors can risk driving safety. Thus, surface inspection has become a dire necessity in the automotive industry. Additionally, these surface flaws, curves, or bumps are often extremely sensitive and therefore difficult to inspect or identify with just human vision. Henceforth, precise quality control inspections and surface inspections are essential for manufacturers in the automotive industry.
Moreover, the new launches in the surface inspection market are yet another factor driving the market during the forecast period. ISRA Vision, an innovative automation machinery manufacturer launched its next generation of camera-based inline inspection systems with new features and intelligent software tools in July 2022. Furthermore, in August 2021, OMRON launched the PCB inspection system ‘VT-S10 Series’ which features an industry-first imaging technique and AI for the high-precision inspection process.. Additionally, the worldwide leader in the design and manufacturing of advanced analytical, test, and measurement instrumentation company, Ametek, Inc. launched a range of expert system services to ensure optimum levels of operation for the lifetime of its inspections and monitoring products. The new launch was announced in October 2021, through AMETEK Surface Vision’s press release. These new performance services will benefit the customers by enhancing the inspection systems, reducing downtime, and maximizing return on investment claims the company. Henceforth, such key developments and innovative launches in the market are expected to further fuel the demand for the surface inspection market during the forecast period.
The surface inspection market for the automotive segment is expected to grow at a significant rate during the anticipated period.
The highly effective surface inspection systems are increasingly used by the automotive sector to detect and prevent manufacturing defects, surface defects, and dents at different production stages. The newer and positive outlook of sustainability, through the introduction of futuristics sustainable electronics, electronic vehicle alternatives, etc. have paved the way for the growth of the automotive industry in the coming years. Furthermore, the use of surface inspection in the automotive industry for capturing various materials and production-induced defects has helped the automotive industry to achieve a significant positive outlook. For instance, the battery cell surface inspection helps in identifying various minor blemishes that are unsafe for the battery cells. As battery cells wrapped in a durable protective coating have flaws like bubbles and inclusions under the coating, scratches, inadequately applied coating, etc. these minor flaws in the battery cell can cause an electrical short or overheating, hence it is crucial to detect these defects while minimizing rejection of flawed but functional coating of the battery cells used in electric vehicle battery systems. Such widespread use of surface detection and emerging new benefits of surface inspection for the automotive industry is expected to propel the market for surface inspection techniques in the forthcoming years.
Analysts predict that the North American region has the biggest share of the surface inspection market.
Based on Geography, the surface inspection market is divided into North America, South America, Europe, and the Asia Pacific. According to analysts, the North American region holds the biggest market share. The market growth can be largely attributed to the increasing advancements in automotive technology and the increasing electronics industry in this region. The leading automotive companies are fueling the growth of the automotive sector by introducing innovative technologies and solutions in this region. For instance, in December 2021, Tesla a known EV manufacturer launched Software V11.0 with customizable controls, safety features, and an all-new user-interface design. Through such advancement and technological upgradation, the North American region is expected to achieve lucrative growth in the automotive sector during the forecast period. Consequently, the growing automotive sector is expected to propel the market for surface inspection in this region.
COVID-19 Insights
The outbreak of COVID-19 had a significant impact on the surface inspection market. The strict lockdown measures in most countries resulted in partial or complete closure of businesses, manufacturing units, factories, etc. The focus of consumers shifted towards essential goods and services, hence the overall demand for the automotive and electronics sector was hindered for a short period. However, the economic recovery and reopening of manufacturing units and industries led to a positive recovery for the surface inspection market amid the pandemic. Furthermore, the demand for the electronics sector surged during this period to adopt the new working environment and e-learning practices globally, which led to the growth of the electronics sector. The positive demand from the end-user industry led to a subtle recovery and growth of the surface inspection market during the pandemic.
Surface Inspection Market Scope:
Membrane Separation Technology- Choose Quality in Purity
Thought ArticlesThe global membrane separation technologies market was valued at US$2.349 billion in 2020 and will increase to US$4,709 billion by 2027. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 10.44%.
Membrane separation, often known as membrane filtration, is a filtering method for removing suspended particles and other materials from water or other media. The permeability of the membrane, its relative concentration, and the force with which the particles are transmitted through the membrane all play a role in particle separation through membranes. Membrane separation techniques can be used to separate big molecules, microscopic molecules, as well as ions & salts. In comparison to other separation & filtration procedures, the membrane separation approach has the advantage of requiring less energy and fewer chemicals.
According to analysts, the increasing demand for membrane separation technologies owing to the increasing depletion of water resources and contamination of water will be the driving force behind the market’s robust growth over the forecasted timeframe.
Increased application in water and wastewater treatment, as well as increased demand from the food, pharmaceuticals, and other processing industries, are the primary factors driving the market considered. With the global shortage of fresh water and rising liquid waste, water recycling and efficient treatment of industrial wastewater is expected to become more important to meet industrial, commercial, and residential demands while also having a positive impact on the environment. Furthermore, the food and beverage processing industry’s future economic growth, as well as a wide range of membrane separation applications such as microbe removal, dealcoholizing, aroma retrieval, volume reduction, preferential fractionation, and other novel ingredient processing, are expected to create huge opportunities for the membrane separation technologies market.
In addition, industry members are commissioned with various R & D tasks in collaboration with research institutes to improve and stimulate membrane manufacturing technology. Utilizing the power of 3D printing, it will also be possible to produce specially designed and molded films in a more specific way than the various film manufacturing techniques currently available. The US Food and Drug Administration (FDA) has suggested the use of RO prefiltration in the food and beverage industry to reduce the risk of biofilm formation. This will make membrane separation techniques more attractive over the years to come.
Many significant competitors are employing strategic investments and alliances to satisfy this progressive paradigm shift and customer needs, increasing market growth. For instance, G2O Water Technologies, a UK technology company, recently concluded an equity investment round in July 2021, with new and existing investors supporting the company’s expansion. G2O’s novel graphene oxide coating products, which minimize the economic and environmental costs of water treatment, have gained significant popularity, with a fast-expanding pipeline of opportunities in industries as diverse as industrial, oil and gas, f&b, and domestic water filtration. Furthermore, Toray Industries Inc. announced in June 2021 that it had created a dual all-carbon-fiber carbon dioxide separation membrane. A hollow/porous carbon fiber serves as a support, with a thin carbon fiber membrane separating the layer on top.
Global membrane separation technologies’ market expansion could be hindered by issues like fouling.
Fouling is a big issue that hurts the company’s operations. Its efficiency and flow are reduced, resulting in higher energy consumption and deterioration of the water and stream quality. To remove contaminated items, the only options are chemical cleaning or replacement, both of which come at a high cost. Because of these expenses, applications and acceptance are restricted to specialized industries, limiting the market growth. The high cost of equipment, the transfer of the end-use market from developed to emerging countries, and the rising cost of production all stifle the market’s expansion globally.
The reverse osmosis segment of the global membrane separation technologies market is expected to have a dominant share throughout the estimated time frame.
Reverse osmosis membranes typically have a particle size of less than one nanometer and are utilized in the manufacture of ultrapure water, landfill leachate remediation, and seawater desalination. Traditional thermal desalination technologies such as Multiple Effect Distillation and Multistage Flash Distillation have a much lower recovery rate than reverse osmosis. As a result, in saltwater desalination plants all over the world, reverse osmosis technology is continually displacing the thermal desalination process.
The synthetic polymer membrane segment of the global membrane separation technologies market is estimated to grow quickly over the forecast period.
Since the middle of the twentieth century, synthetic membranes have been successfully employed for small & large-scale industrial processes, and they are the most widely used. In general, synthetic polymer materials have a wide range of forms and properties. They’re most typically employed for UF, but they’re also used as support substrates in NF and RO processes. The market sector is driven by these materials’ superior permeability, permeate selectivity, mechanical stability, and chemical resistance.
During the projected period, the food & beverage segment is expected to grow rapidly in the global membrane separation technologies market.
With greater awareness & information accessibility, the population’s consumption patterns are predicted to shift toward healthier, more nutritious, and cleaner foods, resulting in rapid food and beverage sector innovation and research and development. Membrane separation technologies such as microfiltration, ultrafiltration, nanofiltration, and reverse osmosis (RO) are expected to drive the market for membrane separation technologies in various food categories such as milk standardization, vegetable oil refining, gluten production, and so on, as demand for food rises. Consumers in the twenty-first century face environmental pollution, stress, society, and health concerns, according to the May 2021 International Journal of Environmental Research and Public Health, functional foods can promote mental and physical health. The membrane separation technology market is also expected to grow as the f&b sectors innovate.
During the forecast period, the global membrane separation technologies market in the Asia Pacific is predicted to have a dominating share.
Rising water contamination and growing environmental concerns are driving this growth, which is fueled by businesses including mining, chemicals, and metal processing. In 2015, China’s government announced the “Water Pollution Prevention and Control Action Plan” to keep extremely polluting industries like chemicals and pulp and paper from damaging water supplies. The adoption of this action plan is projected to augment membrane separation technologies in China by promoting wastewater treatment. Furthermore, the Asia-Pacific area is home to the world’s largest manufacturers of various membrane technology. TORAY INDUSTRIES, INC, Asahi Kasei Chemicals Corporation, DuPont, NITTO DENKO CORPORATION, and Samco Technologies, Inc. are some of the top manufacturers of membrane technology.
Covid-19 Insights
The COVID-19 pandemic has had a detrimental impact on the membrane separation technologies market, as demand for membrane filtration has decreased while operations in the food processing industry have temporarily ceased. Furthermore, with the shutdown of companies, there was little to no wastewater generated, resulting in a drop in membrane filter demand. As a result of the global COVID-19 regulations, fewer people have bought drinking water, which has damaged the operations of mineral water distributors, resulting in a drop in the market for food and beverage membrane separation technology. The medical and pharmaceutical industries, on the other hand, used membrane filtration extensively in creating procedures to test N95 replacement masks, extract RNA, and concentrate viral proteins from liquid media, propelling membrane separation technology forward.
Global Membrane Separation Technologies Market Scope:
Using Thin-Film Photovoltaics to Generate Cheap Solar Energy
Thought ArticlesThe Global Thin-Film PV Module market is expected to grow at a compound annual growth rate of 3.81% over the analyzed period to reach a market size of US$11.557 billion in 2027 from the US$8.896 billion in 2020.
The prime reason driving the growth of the market is the increasing emphasis on renewable energy, particularly solar. Further, tariffs on crystalline silicon solar panels imposed by the United States are another major driver of the thin-film PV module market. Rising R&D investments to improve the efficiency of thin-film solar modules create a great opportunity for increased adoption and, thus, share in the global solar PV market. However, thin-film modules are less efficient than silicon solar modules in terms of efficiency. The performance of thin-film modules is reduced due to degradation, which includes initial degradation (light-induced), age-related degradation, and potential-induced degradation.
Increasing emphasis on the renewable energy sector will boost the market growth
Countries around the world have set goals to increase the share of renewable energy sources in total electricity generation in response to growing concerns about environmental sustainability, greenhouse gas (GHG) emissions reduction, and rising electricity costs. In July 2021, First Solar announced a $684 million investment in a new, fully vertically integrated photovoltaic (PV) thin film solar module manufacturing facility in India. The advanced facility is expected to be built in the state of Tamil Nadu and to begin operations in the second half of 2023. First Solar will combine its clean energy goals with effective trade and industrial policies aimed at enabling self-sufficient domestic manufacturing and true energy security. The company also has many long-standing customers in the country who will be pleased to have access to an advanced PV module made in India, for India.
According to the International Energy Agency (IEA), India will overtake the European Union (EU) as the world’s third-largest consumer of electricity by 2030, as the country’s population and GDP continue to grow. India has committed to making renewables 40 per cent of its energy portfolio by 2030 as part of its climate goals, and the country is expected to account for nearly 20 per cent of the world’s installed solar capacity by 2040.
In Australia, for example, the renewable energy target (RET) is a federal government policy that aims to generate at least 33,000 gigatonnes (GW) of total electricity from renewable sources by 2020. Spain’s national integrated energy and climate plan also targets 120 GW of installed renewable energy capacity, primarily wind and solar, by 2030. (NECP 2021-30)
Cadmium Telluride (CdTe) market will have a significant share
The Global Thin-Film PV Module market is segmented on the basis of type as Amorphous Silicon (a-Si), Cadmium Telluride (CdTe), Copper Indium Gallium Diselenide (CIGS). The cadmium telluride segment dominated the global thin-film solar cell market in 2020, depending on type, and is expected to remain the fastest-growing segment during the forecast period. This is due to its nontoxic nature, which absorbs a wide range of the light spectrum and performs well in low light but quickly loses efficiency. It also has low manufacturing and maintenance costs.
Less efficiency of thin film PV modules may constrain the market growth
Silicon technology has been around for a while and has proven its worth and mettle, whereas thin film technology is still in its infancy but has the potential to be significantly less expensive and, at the very least, comparable in efficiency and reliability. Crystalline silicon (c-Si) cells have a high-efficiency rate of about 12% to 24.2%, as well as high stability, ease of fabrication, and reliability. Another advantage is longevity: c-Si modules deployed in the 1970s are still in use today, and single crystal panels can withstand the harsh conditions of space travel. Other advantages include high heat resistance and lower installation costs. Furthermore, when it comes to disposal/recycling, silicon is more environmentally friendly.
North America accounts for a sizable portion of the global thin-film module market.
The global thin-film module market has been divided into five major regional markets based on geography: North America, South America, Europe, the Middle East and Africa (MEA), and Asia Pacific (APAC). In 2019, North America held a sizable share of the global thin-film module market. With the imposition of tariffs on silicon-based PV modules by the US in 2018, thin-film solar module manufacturing in the country has increased, with US manufacturer First Solar being one of the leading market participants in the global thin-film module market. In 2019, the country produced more than 600 MW of thin-film modules, according to the EIA (the United States Energy Information Administration). Following the imposition of tariffs, 8 GW of imported PV modules were tariff-free in 2019, with the majority of these modules (4.3 GW) being thin-film modules. First Solar announced the start of production at its new PV module manufacturing facility in Ohio in October 2019. With the addition of this new production facility, the company’s total annualised production capacity in the United States increased to 1.9 GW. Both Ohio manufacturing facilities produce Series 6 modules, which are larger CdTe thin-film solar modules that are comparable in size to traditional 72-cell crystalline silicon modules.
Europe will also hold a significant share of the global thin-film module market throughout the forecast period, owing to rising R&D activities and a regional emphasis on reducing carbon footprints. For example, the European Sharc25 research project is working on optimising the conversion efficiency of CIGSe thin-film technology from various perspectives, using a combination of theoretical modelling, experimental characterization, and the sharing of technical know-how among several leading research groups across Europe. European countries are increasing their efforts to meet CO2 reduction targets while also meeting their energy needs. The demand for thin-film solar modules is increasing significantly in Europe, which is positively impacting the region’s thin-film module market growth.
Covid Insights
The recent global pandemic caused by COVID-19 had hampered the growth of the thin-film PV module market. On the supply side, global supply chain disruption and reduced productivity across manufacturing facilities as a result of mandatory social distancing measures have crippled thin-film module production. On the demand side, the pandemic had a significant impact on solar installations, with subsequent lockdowns and declining business spending leading to the postponement of several solar projects. Furthermore, the market for thin-film solar cells was negatively impacted by import and export activities, which also had a significant impact on other industries that use these cells.
Global Thin-Film PV Module Market Scope:
Digitization and Growing Traffic Pushing the Shared Mobility Market
BlogThe Global Shared Mobility market size was valued at $177.517 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 16.48% over the predictive period to reach $516.541 billion by 2027.
Shared mobility is a service offered by organizations or individuals, wherein a vehicle is shared by a passenger and driver in return for a cost based on distance or time. Owners of such commercial vehicles may offer services such as vehicle hire, ride-sharing, car-pooling, etc. With the increasing gasoline prices and road traffic volumes, the shared mobility market has seen an increase in demand. Moreover, the increasing adoption of smartphone and internet services have also had a positive influence on the shared mobility market.
Growing Traffic to Fuel the Market Demand
The automotive industry has seen rapid developments in recent times. Advancements in technologies like driving assistance, safety assistance, stability in performance, navigation, smart assistance, etc, have resulted in significant growth in demand for the automotive industry. Growing concerns over environmental pollution and climate change effects have led to the development of environment-friendly vehicles. Innovations in the field of electric vehicles, hydrogen cell vehicles, and solar vehicles, have helped in fulfilling the growing demand for clean energy vehicles. Moreover, increasing government incentives and policies to tackle climate change and meet carbon neutrality goals have resulted in a growth in demand for the automotive industry. Global sales in the year 2020 reported a slowdown, owing to the COVID-19 pandemic. However, the market is recovering and according to a report released by OICA, the global sales in the year 2021, increased by almost 5% from 2021 from the previous year. Also, according to a report by IEA, global Electric Car Sales have seen an increase of about 41% in the year 2020. The sales of electric cars were recorded at 4.6% of total car sales around the world. Electric vehicle sales are expected to jump from 3 million vehicles in 2017 to 23 million in 2030, according to the International Energy Agency. Hence, the automotive market is expected to rise even further.
However, this increase in vehicle sales has resulted in a significant increase in traffic. Since most countries have lifted their lockdown protocols, the roads and highways have reported a significant increase in traffic. According to data released by the US Department of Transport, travel on US roads increased by 2.9% in March 2022, as compared to the previous year. Also, travel on US roads increased by 19% in March 2021, as compared to the previous year. This increase in traffic is also accompanied by a significant increase in fuel prices. According to data from the US Energy Information Administration, the average increase across all regular-grade gasoline prices in the US was about 34% in May 2022, as compared to the previous year. This increase in fuel prices has been seen across most nations worldwide. This has been directly linked with the ongoing Russia-Ukraine conflict, which has led to a scarcity of fuel, leading to an inflated price.
The increasing fuel prices, vehicle maintenance costs, parking restrictions, and increasing traffic volumes have led to an increase in demand for the shared mobility market. Two-wheelers have been increasingly popular due to the increasing traffic volumes. Moreover, the increasing cases of accidents worldwide have also positively influenced the market, since the vehicle liability usually resides with the driver and not the passenger. These factors have resulted in a positive demand for the shared mobility market, and are anticipated to further increase the market demand.
Increasing Smartphone Penetration
Smartphone technology has reported rapid advancements over the last few decades. The increasing accessibility and usability have led to an increase in market demand for smartphone technology. Developments in the user interface, camera technology, performance, e-payment technology, etc, have led to an increased usage of smartphones. According to GSMA, the number of mobile internet users reached 4.2 billion in the year 2021. Moreover, the increasing adoption of 5G technology has significantly increased the smartphone market. GSMA also reports that by the end of 2025, 5G is expected to account for over a fifth of the total internet connections in the world.
This increasing smartphone penetration has resulted in a positive market impact on the shared mobility market. Online services such as Uber, Rapido, Ola, and other services have led to a significant increase in the shared mobility market. Services such as easier booking, cancellation, payment options, etc have had a significant impact on the shared mobility market. Further, with the increasing advancements in smartphone and internet services, the shared mobility market is anticipated to grow significantly.
Asia Pacific Region to Lead the Market
The Asia Pacific market is expected to hold the largest market share in the shared mobility market throughout the forecast period. The market is predicted to grow as a result of factors such as rising technological and smartphone innovations. The introduction of better internet services and accessible smartphone technology in the region has led to the rapid adoption of shared technology. The increasing population in the region has also resulted in the adoption of shared mobility services. The rapidly expanding automotive industry and road traffic volumes are expected to drive up the demand for the shared mobility market. The increasing investment and maintenance costs in the automotive industry in countries like China and India have led to an increase in demand for the shared mobility market. Moreover, the increasing breakdown and accident cases, and repairing costs associated with vehicles have also contributed to the expansion of the shared mobility market. The shared mobility market is anticipated to grow significantly in the Asia Pacific as a result of these factors.
COVID-19 Insight
The outbreak of the COVID-19 pandemic resulted in a global economic downfall. Since governments implemented lockdown and social distance measures, most major industries experienced significant losses. This resulted in a decrease in vehicle movement, due to the suspension of non-essential services. The shared mobility market suffered significant losses due to this. Public transportation also suffered a slowdown due to such measures. Moreover, even after the regulations were lifted, the people were reluctant to use shared mobility services, due to fear of contamination and infection. Consequently, as most industries have reported resumption of services, the shared mobility market is expected to grow at a significant rate.
Shared Mobility Market Scope:
Building a Durable Infrastructure With Construction Adhesive Tapes
BlogThe construction adhesive tape market is evaluated at US$762.665 million for the year 2020, growing at a CAGR of 4.91% to reach a market size of US$1,066.730 million by the year 2027.
Adhesives are synthetic chemicals that attach to a variety of surfaces, from everyday items to construction materials. These are the materials that are used to keep two surfaces together for a long period. Adhesives used in construction and building are quite diverse. Adhesives are required for traditional and newly developed construction materials such as concrete, polymers, and wood panels to have good adherence, enhanced performance, and ease of application. Adhesives are becoming more popular in the construction industry as a result of these advantages. Construction glue is a multipurpose adhesive that can be used to adhere drywall, tile, molding, and fixtures to walls, ceilings, and floors. It’s most typically seen in tubes that are meant to be used with a caulking gun. Construction glue is used to join plywood, particleboard, hardboard, ornamental laminates, metals, concrete, and other materials. High demand exists for adhesive tapes that cure rapidly, are simple to apply, and are inexpensive. Silicones and acrylic sticky tapes are among the recently produced adhesives.
Key drivers driving the market growth
The adhesive tapes market in windows and doors applications is predicted to grow as sticky tape technology improves and characteristics improve. High-performance masking tapes are designed for large-scale construction projects. In the construction industry, duct tape and masking tape have grown commonplace. Manufacturers of tape, on the other hand, are putting more effort into overcoming their disadvantages. Manufacturers in the construction tape industry are stepping up their R&D efforts to develop high-performance tapes, such as high-temperature polyester, to give end-customers more options.
Increasing demand in emerging economies may offer profitable market opportunities
The global economy is rebounding from its slump, and the construction industry is likely to rebound, boosting demand for construction adhesive tapes. In contrast, emerging economies such as India, China, Brazil, and the Middle East are focusing on public infrastructure development. The construction adhesive tape market will benefit from this increase in infrastructure development. The infrastructure sector is a crucial engine of the Indian economy, according to the India Brand Equity Foundation. The sector is critical to India’s overall growth, and the government has placed a high priority on enacting regulations that will ensure the country’s world-class infrastructure is built on time.
Hot-Melt technology is going to account for the highest market share in the future
The construction adhesive tapes market has been classified into hot-melt-based, solvent-based, and others based on technology. In the future, the hot-melt segment of the construction adhesive tapes market will have the largest market share. This technology has several advantages over other adhesive technologies, including excellent adhesion, quick set, ease of use, fast processing, and others.
The construction adhesive tapes market was dominated by the residential end-use industry segment
In terms of value and volume, the residential end-use industry segment is expected to lead the construction adhesive tapes market during the forecast period. The benefits of using construction adhesive tapes in residential applications include increased strength, excellent finish quality, improved tensile strength, aesthetics, improved productivity, and lower manufacturing costs.
Changing regulations and industry standards will present a significant challenge to the construction adhesive tapes market
Regulations governing the use of construction adhesive tapes are changing frequently, posing challenges for adhesive manufacturers. For example, changes in rules and standards imposed by the European Union’s Construction Products Regulation (CPR) are a major concern for manufacturers of construction adhesives, as they determine construction products’ minimum (or maximum) performance levels. To demonstrate compliance with the new regulatory policies, new products must go through time-consuming labeling and paperwork.
Regional Analysis
The largest market for construction adhesive tapes is in North America. Construction adhesive tapes for various residential and non-residential applications are in high demand in the region. North America has one of the world’s largest construction markets. North America’s building and construction industry are highly developed, and architects and builders in this region are familiar with and skilled in the use of modern architecture in residential and non-residential construction. The Asia-Pacific region is expected to grow rapidly in the future due to high demand from the construction sector in India, China, and other Southeast Asian countries. In terms of construction investment, the development of 100 smart cities in countries such as India and government programs such as Housing for All by 2022 is expected to outpace both the US and Europe over the next five years. The Middle East region also has one of the world’s fastest-growing construction markets, led by Saudi Arabia and the United Arab Emirates.
Covid Insights
In 2020, COVID-19 wreaked havoc on the construction adhesive tapes industry’s whole supply chain. More than a hundred countries had erected barriers to trade and transportation both within and outside their borders. Furthermore, the epidemic had practically brought non-essential goods production to a halt in most of the world’s main economies. Due to the epidemic, most active building projects as well as those in the pipeline were halted. As a result, demand for construction adhesive tapes, which are utilized in a variety of construction applications, has decreased. Due to the poor demand, the companies had to restrict output and downsize their employees to save expenses and keep their businesses afloat. Construction adhesive tapes’ expansion was limited by these factors.
Construction Adhesive Tape Market Scope:
Cast Elastomer- Flexibility, Strength, Endurance
Thought ArticlesThe Cast Elastomer Market is estimated to increase at a compound yearly growth rate of 3.01%.
Rubber-like polymeric polymers having higher flexibility than other materials are known as elastomers. When elastomers are warped by external pressures, they can resist flow like a viscous fluid. Polyurethane cast elastomers’ adaptability enables them to obtain the highest possible range of physical attributes for a specific application. Superior load-bearing capacity, transparency, structure retention, adhesiveness, electric insulation qualities, and a wide hardness range are only a few of the benefits offered by the materials. Furthermore, cast elastomers may be formed into any shape, allowing them to be used in a wide range of applications such as exploration and production, healthcare, industrial, and many others.
According to analysts, the increasing demand for cast elastomer owing to increasing demand from end-use industries will be the driving force behind the market’s robust growth over the forecasted timeframe.
Due to increased demand from numerous end-use industries such as infrastructure, mining, automobiles & transportation, industrial, medical, and oil & gas, cast elastomers are expected to rise significantly in the coming years. Cast elastomers could be molded to a variety of durometer hardnesses to satisfy the needs of a particular application. Hot cast polyurethane elastomers are utilized extensively in the mining sector for mineral processing domains such as sorting screens, conveyor scrapers, as well as other components. Cast polyurethane elastomers’ high load-bearing capacity, resistance to abrasion, durability, and impact strength qualities enable mining equipment to function better and endure longer. The expansion of the cast elastomer market will be aided by rising output in the mining industry, as well as increased exploration efforts, particularly in emerging markets.
Furthermore, leading enterprises have been driven to produce new goods as a result of greater awareness of environmental sustainability, increased competition, and variability in raw material prices. Products with low free or residual monomer content, for example, decreased exposure to hazardous carcinogenic chemicals while also improving physical qualities. Era Polymers and Covestro, for example, have introduced a range of relatively low monomer prepolymers. In addition, the need for green polyurethane continues to rise. This has heightened attention to the development of environmentally friendly PU products, such as organic polyols. Manufacturers have also been striving to create bio-based isocyanates to counteract the negative impacts of petroleum-based isocyanates. Such activities, in tandem with the rapid growth of technology, are expected to provide enormous benefits for the competitors in the cast elastomer market.
Cast elastomer market expansion could be hindered by the hazardous impact on human beings and the environment during the projected period.
Isocyanates are strongly reactive compounds with a low molecular weight that are used to make varnishes, fibers, flexible & rigid foams, coatings, and elastomers, among other things. The main raw ingredients utilized in the production of polyurethane cast elastomers are isocyanates such as TDI, MDI, & HDI, which are highly reactive and toxic. As a result, there is broad opposition to the marketing and use of these substances. Isocyanate vapors are harmful to human health because they irritate the skin, eyes, nose, throat, and lungs. These isocyanates create respiratory sensitivity in workers, which can lead to severe asthma attacks. As a result, avoiding workers from being exposed to isocyanates is a vital step in reducing health risks. When there is exposure to airborne concentrations of isocyanates, some protective measures need to be taken, such as the use of safe systems of work (local exhaust ventilation), appropriate protective equipment (respiratory protection), as well as other workplace practices (proper handling and storage). These variables might raise final production costs, lowering the cast elastomers market’s profit margins.
During the forecasted time frame, the hot-cast elastomer segment in the Cast elastomer market is predicted to have a dominating share.
The cost-effectiveness, adaptability, and durability of these cast elastomers are the primary growth drivers for their high usage. These elastomers are utilized in applications that need a high level of performance, such as wheels & industrial rollers. Furthermore, to achieve a competitive advantage in the market, several organizations are focused on the development and deployment of hot caste systems. For example, LANXESS announced its hot cast and cold cure technology for polyurethane cast elastomers in September 2021. The method will use a unique Vibracure curative to cure a Vibrathane MDI ether prepolymer at room temperature, which will save energy, improve EH&S, and reduce CO2 emissions significantly.
The industrial segment is expected to grow rapidly in the Cast elastomer market by application.
The significant market in the industrial category can be attributed to the large range of cast elastomer applications available in this industry. The need for cast elastomers in this area is being boosted by an increasingly globalized world & growing number of machines. Cast elastomers are utilized in a variety of applications in the industrial sector, including coupling elements, seals and gaskets, conveyor belts, forklift wheels, and much more. These components are then employed in a variety of industries, including paper, construction, heavy industry, and so on. The cast elastomers market is likely to benefit from the rising demand for energy-efficient and environmentally friendly equipment.
During the forecast period, the Cast elastomer market in the Asia Pacific is predicted to have a dominating share.
The Cast elastomer market is classified into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The worldwide cast elastomer market has been led by the Asia Pacific, and this trend is expected to continue over the forecast period. The expansion in the APAC region can be attributed to the expanding manufacturing sector in rising economies like China, Indonesia, India, Malaysia, Thailand, and others in the area, where demand for industrial machinery and equipment is quickly increasing. Furthermore, rising urbanization and population expansion are pushing the markets to increase cast elastomer usage. Moreover, advancements in industrialization, rising demand owing to shifting demographics, and government initiatives are projected to draw business investments in areas such as electricity, energy and utilities, metal processing, construction, and mining. For instance, Huntsman announced plans to debut a new line of easy-to-use elastomers in July 2021, which will be used to ease the castings of heavily loaded and complex parts. The items may increase operational flexibility while casting hard-wearing, big, and specialty elements for industrial, oil & gas, and mining techniques.
Covid-19 Insights
Government restrictions enacted in reaction to the COVID-19 outbreak have had a substantial impact on the cast elastomers market, obstructing the manufacturing and shipping activities of several market participants. However, there has been an increasing trend in the market for PPE kit manufacturers to develop thermoplastic polyurethane elastomers. Face masks, medical gowns, valves, tubes, cable jackets, mattress covers, and other products have benefited from the advancement.
Global Cast Elastomer Market Scope:
Optical Position Sensor Market for Accuracy and Detailed Inspection
Thought ArticlesThe optical position sensor market was worth US$973.651 million in 2022 and is projected to expand at a 9.9% CAGR over the predicted period to reach US$1,885.923 million by 2029.
Optical position sensor is detected by an optical position sensor. Home appliances, Automobile, Healthcare gadgets, aircraft, and other industries use these sensors in transistor modules and chips. The market is expected to rise further as the use of wearable medical devices increases, as well as the demand for high-performance sensors. However, the market’s growth is hampered by sensor accuracy and customization. Regardless of these obstacles, the rising demand for and manufacture of consumer electronic gadgets, such as cell phones, presents attractive potential for market expansion.
Usage in Different Industries
Over the projection period, this rising tendency in fields as diverse from packaging (the rise of warehouses) to pharmaceuticals, manufacturing, and food and beverages is expected to boost market growth. The excellent precision in detecting things, these sensor have been acknowledged for their long-term use in the factory automation sector. These sensors are increasingly being integrated into a variety of automated machinery, mostly for non–contact detection and measurements such as count, monitoring, machine tools, conveyor mechanisms, transport systems, and assembly lines. Additionally, as these lighting systems become more widely used in industrial and residential settings, consumption for optical sensors is projected to rise.
Manufacturing companies are putting more emphasis on precise measurements and thorough inspections
To meet industry requirements, the manufacturing business requires a high level of precision which anticipate the growth of the manufacturing companies. Manufacturers focus on two main parameters for creating high-quality products: measurement precision and comprehensive examination. A position sensor monitors a number of important properties, including height, step, gap, profiling, width, V-gap, bend, groove, edge, angle, and surface. transportation systems, HVAC systems, industrial equipment, mobile hydraulics, heavy-duty gear, smart buildings, and construction equipment can all benefit from these sensors, which detect, measure, or assess the profiles on various object surfaces. Many measurement tasks become easier because when market is linked to the analytics program.
Industrial automation is becoming more popular
Manufacturers are leaning toward automation of industrial processes as sophisticated technologies, including such Industry 4.0, gain traction. Despite the global epidemic, sales of new robots increased by 0.5 percent in 2020, per the International Federation of Robotics (IFR), with 384,000 units sold globally. As a result, businesses from diverse locations and industries are focusing their efforts on enhancing their production infrastructure by implementing entirely automated machine tools, resulting in a strong growth for position sensors.
The demand for multiaxial type solution
The solutions are being implemented at a large scale by the multiaxial firms who participate in the market functions. Optical position sensors are on its approach to adopting these market services on a wide scale, ensuring improved asset implementation and usage, as well as providing unmatched assistance in minimising errors and preserve the quality of end-products supplied to the intended audience.
The high demand for smart devices, consumer electronics will emerge as the largest application segment
With a global sales, consumer electronics is anticipated to create as the leading application segment for optical position sensors. Optical position sensors have become more common in household appliances due to their inexpensive cost. The popularity of smart gadgets is increasing as consumers’ lives change. As a result, desire demand optical position sensors is increasing, as they are a critical element of smart electronic gadgets.
Consumer electronics is predicted to come in second and third, respectively, to aerospace and defence and automotive applications. Growing concerns about flight safety and growing adoption for air travel are expected to enhance optical position sensor sales in the aerospace & defence sector. The growing demand for automation is expected to propel the worldwide optical position sensor market forward in the approaching years.
The Asia Pacific is projected to propel the Optical Position Sensor Market forward
During the projected period, the position sensor market in APAC is expected to grow at a faster rate. The position sensor market in APAC is likely to increase in the future years due to continued demands for expense and extremely efficient position sensors from the electronics, manufacturing, automotive, and packaging industries and medical and healthcare. The market for position sensors in APAC is predicted to rise as the region’s population grows, R&D investments increase, and the industrial and electronics sectors expand.
High Product Innovation Propelling the Market In U.S.
For ambient light and other uses, optical sensors are commonly found in smartphones, smart wearables, and smartwatches. The Internet of Things (IoT), health and fitness and wearable technology, technologies have all had a significant impact on the US market, driving up demand for optical sensors. Because of their multi-functionality, smart TVs are predicted to rise rapidly in the United States. Samsung remained the dominant smart TV brand among US homes in 2020, according to Comscore, with a consistent share of 32 percent, led followed Alcatel/TCL and Vizio with 14 percent and 13 percent market share, respectively. Smart TVs are predicted to become a part of every household in the U. S., a trend that is expected to continue, fuelling the growth of the industry.
COVID-19 Insight
The optical position sensor market has declined as a result of the pandemic’s detrimental influence on the global business. Shutdowns and deprivations enforced by global governments led to the closure of o manufacturing plants and industries, resulting in the market’s demise. During the COVID period, demand for optical position sensors was reduced due to the shutdown of the automation and automobile industries. End-user industries that use position sensors have seen a decline in growth in several regions to a pause in operations. This resulted in a major drop in revenue for companies in these industries, as well as a fall in prices for positioning sensors manufacturers affecting the market.