Latest Market Trends

Polyurea Coating Market Will Reach Height of USD 1.48 billion By 2025

The global Polyurea Coating Market size is expected to value at USD 1.48 billion by 2024. The market is subject to witness a substantial growth due to their numerous benefits over traditional coating such as epoxy, fiberglass, and paints. Some of important properties of polyurea coating include lower setting time, resistance to adverse atmospheric conditions and high mechanical strength.

In addition, polyurea coating offer additional advantages such as high standards of corrosion protection, waterproofing, and chemical & structural enhancement. These factors are expected to drive the growth of polyurea coating industry over the forecast period. Globally, the polyurea coating market is predicted to grow at CAGR of 12% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Furthermore, polyurea coating tends to exhibit advanced set of characteristics in spray applications such as higher mechanical, thermal, and chemical resistance, short curing and setting time. Higher durability associated with polyurea coating in comparison with its substitutes is anticipated to foster market growth over the next seven years. The raw materials required to manufacture polyurea coating include aromatic isocyanate-based and aliphatic isocyanate-based. Polyurea coating is used along with technologies such as spraying, pouring and hand mixing.

Increasing demand for intumescent coating from building & construction industry owing to its numerous benefits such as higher durability and attractive appearances of the surfaces, thus driving the growth of polyurea coatings industry in the recent years. Additionally, polyurea coating also provides protection against harsh weather and external environmental factors such as ultra-violet radiation, high temperatures, acid rain, and pollution particles. These factors are predicted to boost market demand for polyurea coating during the forecast period.

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The recent technological advancement and development of novel products has led to addition of superior properties such as protection from moisture, corrosion resistance, bacteria and heat resistance, thus escalating market progress, in the recent years. Growing need for environmental-friendly and water resistance solutions coupled with stringent laws and regulation by regional governments across the globe are expected to boost the market growth of polyurea coating over the forecast period. Moreover, recent joint ventures, mergers and partnerships among number of major manufactures and vendors along with local industry players are anticipated to amplify market value in the upcoming years.

The polyurea coating market is broadly categorized into three major segments based on the application type such as building & construction, transportation, and industrial. The building & construction sector is considered as one of the fastest growing segment in the polyurea coating industry with substantial revenue generation in the last few years. Growing popularity of polyurea coating in the building & construction segment is attributed to the increasing application in waterproofing duet to their high humidity resistance. The industrial segment has also witnessed substantial growth owing to the rapid industrialization in the Asia Pacific region.

The polyurea coatings market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction sector, increase in the number of research & development activities, and existence of well-established industrial infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the polyurea coating with massive growth in forecast period. Countries such as India, China, Malaysia and Singapore are leading the Asia-Pacific market with strong economic growth in the region, rapid industrialization and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the polyurea coating industry are PPG Industries, Inc., The Sherwin-Williams Company, Nukote Coating Systems, Inc., Versaflex Inc., Specialty Products Inc., Armorthane Inc., Wasser Co., Rhino Linings Co., Kukdo Chemical Co., Ltd., Lonza Group AG, Albemarle Co., Huntsman Co., BASF SE, and Covestro, Inc.

Hand Dryers Market Will Reach Height of USD 1.59 billion By 2025

The market is subject to witness a substantial growth due to the growing adoption in various end-user industries such as hotels and restaurants, office buildings, educational institutes, shopping & commercial complex and multiplexes, railway station, and airports.

The global Hand Dryers Market size is expected to value at USD 1.59 billion by 2024. The market is subject to witness a substantial growth due to the growing adoption in various end-user industries such as hotels and restaurants, office buildings, educational institutes, shopping & commercial complex and multiplexes, railway station, and airports. In addition, environmental and economic advantages offered by hand dryers are expected to drive market demand for automated hand dryers.

Additionally, factors responsible for robust growth in the hand dryers include growing demand for better hygiene in both residential and commercial applications and increasing need for cost-effective cleaning solutions. Introduction of automated and programmed hand dryers has led to development of work-efficient solutions, thereby propelling market growth, in the recent years. Globally, the hand dryers industry is predicted to grow at CAGR of 14.0% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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The recent technological advancements and development of the novel products & technologies such as touch control and advanced sensor systems in order to enhance user experience is also expected to fuel revenue growth in the upcoming years. Moreover, shifting trends towards adoption of automated and intelligent hand dryers is positively impacting market growth, in the last few years. Other factors such as cost effectiveness and time saving capabilities of hand dryer market are predicted to drive the market growth of hand dryers over the forecast period.

The wall mounted hand dryers are gaining traction among various end-user segments such as airports, educational institute, hospitals, hotels and restaurants owing to the less space occupancy offered by these devices. Increasing demand for hand dryers is attributed to space occupancy concerns, majorly in compact restrooms with high traffic. The surface mounted hand dryers are adopted due to multiple advantages over wall mounted hand dryers such as easy installation and cost efficiency.

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The hand dryers industry is broadly categorized into seven major segments based on the application type such as airports, educational institute, hospitals, hotels and restaurants, office buildings, railway stations, and shopping &commercial complex and multiplexes. The hotels and restaurants is considered as one of the fastest growing segment in the hand dryers market with substantial revenue generation in the last few years. Growing popularity of hand dryers in the hotels and restaurants segment is attributed to the massive growth in the hospitality sector, increase in the number of restaurants, pubs and hotels, and rise in tourism industry across the globe. The hospitals segment has also witnessed substantial growth owing to the rising concerns forhygiene & cleanliness coupled with increasing adoption of cost-effective solutions.

The hand dryers industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in hospitality industry, increase in the number of research & development activities in the region, substantial increase in number of shopping &commercial complex and multiplexes, and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the hand dryers market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing disposable income, growing adoption in hospitals, hotels and restaurants, improved living standards, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the hand dryer industry are American Dryer, Inc., Dyson Ltd., ELECTROSTAR Electronics Recovery Solutions LLC, Euronics Industries Pvt., Ltd., Excel Dryer, Inc., Jaquar & Company Pvt., Ltd., Mitsubishi Electric Co., Panasonic Co., Saniflow Hand Dryer Co., Bobrick Washroom Equipment, Inc., SPL Ltd., TaishanJieda Electrical Industrial Co., Ltd., Toto Ltd., and World Dryer Co.

Polyurethane (PU) Market Will Accomplish Outstanding USD 26.24 billion Figure By 2025

Rigid polyurethanes has also witnessed substantial growth in the last couple of years owing to increasing adoption as a structural material.

The Europe polyurethane (PU) Market size is expected to value at USD 26.24 billion by 2024. The Europe polyurethane (PU) industry is subject to witness a substantial growth due to the stringent laws & regulations in regards to energy efficiency and carbon emission reduction. Rising investment by developed economies across Europe such as UK, Germany, Poland, and Sweden is expected to boost market growth over the forecast period. The Europe polyurethane market is predicted to grow at CAGR of 3.8% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

Polyethylene is largely used to produce polyurethane (PU) foam and structural foam, which is majorly used in various construction activities. Growing popularity of the polyethylene foam is credited to the factors such as lightweight, durability, heat resistance, and a closed-cell material composition. Polyethylene is widely used in the packaging of delicate products, and automobile parts, thus fostering market value, in the recent years.

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Rigid polyurethanes has also witnessed substantial growth in the last couple of years owing to increasing adoption as a structural material. Rigid polyurethanes has also displayed important properties such as toughness, lightweight, and resilience. Rigid polyurethanes also provide protection against chemical reactions and moisture effects thus making it an ideal choice for various application such as building & product insulation.

The Europe polyurethane industry is broadly categorized into six major segments based on the application type such as furniture & bedding, building & construction, electronics & appliances, automotive, footwear, and packaging. The building & construction is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of polyurethane (PU) in the building & construction segment is attributed to the stringent laws & regulations associated with inculcating energy efficient parts. The furniture & bedding segment has also witnessed substantial growth as polyurethane (PU) is considered as the ideal for roofs and walls in new houses.

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The Europe polyurethane (PU) market is divided into developed economies such as UK, Italy, Germany, Poland, and Sweden. Germany has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction industry, and existence of well-established industrial infrastructure. Italy is predicted to hold major market share in the Europe polyurethane (PU) industry with massive growth in forecast period.

Countries such as UK, Sweden and Poland are anticipated to lead the Europe polyurethane market with strong economic growth, well-established socio-economic climate, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the Europe polyurethane (PU) industry are Covestro AG, Huntsman Co., British Vita Ltd., BASF Group SE, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Ellsworth Co., Stepan Co., IMCD N.V., and Archway Sales, Inc.

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Electronic Materials and Chemicals Market Will Generate About USD 81.05 billion By 2025

The global Electronic Materials and Chemicals Market size is expected to value at USD 81.05 billion by 2024. The market is subject to witness a substantial growth due to the growing demand from manufacturing sector for production of semiconductors, flat panel displays, and photolithographic printing. In addition, declining cost of electronic equipment and improved standards of living across the globe are expected to fuel the market growth of electronic materials and chemicals over the forecast period.

Massive demand for semiconductors materials in manufacturing of mobile phones, electronic chips and integrated circuits is anticipated to foster market growth in the upcoming years. Globally, the electronic materials and chemicals industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Substantial growth in electrical & electronics sector coupled with increase in industrial production are anticipated to fuel the growth of electronic materials & chemicals market over the forecast period. Rapid pace of macroeconomic cycles is a key for market expansion in the last decade. Increasing number of small & medium-sized enterprises SMEs in developing economies across Asia-Pacific and Latin America is playing crucial role for the success of electronic materials and chemicals industry since last couple of years. Recent technological advancement in the semiconductor industry is expected to offer lucrative growth avenues for industry players, in the recent years.

Growing manufacturing activities in the North America region is also leading to the increasing production of electrical & electronic appliances, thus driving market expansion in the last few years. Additionally, rising investment by prominent market players across the globe in capacity expansion as well as modernization of existing manufacturing facilities in order to generate excess of revenues and gain competitive edge over other organizations, are positively impacting market growth over the forecast period.

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Some of the key raw materials that are required for production of the electronic materials & chemicals include silicon, copper, nickel, and specialty gasses. Semiconductor and integrated circuits is one of the largest end-user segment in the electronic materials & chemicals industry that holds massive market share. Printed circuit boards (PCB), which are important components of integrated chip technology and is adopted in various consumer electronic appliances.

The electronic materials and chemicals market is broadly categorized into five major segments based on the application type such as silicon wafers, PCB laminates, specialty gases, wet chemicals and solvents, and photoresists. The PCB laminates is considered as one of the fastest growing segment in the market of electronic materials and chemicals with substantial revenue generation in the last few years. Growing popularity of the PCB laminates segment is attributed to the increasing adoption for manufacturing of various electronic products such as amplifier and LEDs. The photoresist segment has also witnessed substantial growth owing to the growing importance towards patterned coating.

The electronic materials and chemicals industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in semiconductor industry, increase in the number of research & development activities in the region, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the electronic materials & chemicals market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, growing manufacturing sector, increasing disposable income, trade liberalization policies, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the electronic materials & chemicals industry are Air Products & Chemicals Inc., Ashland Inc., Air Liquide Holdings, Inc., BASF Electronic Chemicals SE, Honeywell International, Inc., Cabot Microelectronics Co., Linde Group Co., KMG Chemicals Inc., Fujifilm Electronic Materials, Inc., Kanto Chemical Co., Inc. and Tokyo Ohka Kogyo Co., Ltd.

Therapeutic Bed Market Is Rapidly Escalating Worldwide 2021

Therapeutic bed industry is driven by noteworthy growth of medical sector due to innovation and growing awareness among consumers regarding health and wellness.

Global Therapeutic Bed Market is anticipated to grow considerably in the forecast period owing to the prevalence of chronic disorders and growing geriatric population worldwide. Therapeutic beds are the adjustable beds that offers complete body support to the medical patients. Irrespective of surgery or injury or a degenerative disorder, therapeutic beds offer relaxation to the spine and back and aids in curing.

Therapeutic bed industry is driven by noteworthy growth of medical sector due to innovation and growing awareness among consumers regarding health and wellness. Moreover, the advent of improved technologies like fiber-body, flexible and adjustable side railings automatic adjusting of height, light-weight, portability and multi storage facilities are propelling the growth of therapeutic bed market. However, significant cost of beds and varying dimensions somewhat limit the market growth of therapeutic bed. Geriatric population and specially abled population turn out to be potential users for therapeutic bed mostly associated with the hospital segment.

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Therapeutic bed industry is categorized on the basis of product type, technology, application, and geography. On the basis of product type, the market is divided into air fluidized beds, bariatric beds, bathing beds, maternity beds, ICU beds, pediatric beds, low air loss bed systems, and standard medical beds. Standard medical beds, ICU beds and maternity beds are expected to register significant growth in the coming years owing to growing number of patients suffering from disorders that need to be operated and increasing number of road mishap patients.

On the basis of technology, therapeutic beds market is divided into manual and electrically powered. Electrically powered segment is predicted to rise substantially in the coming years owing to technologies like remote controlled and voice operated. Moreover these type of beds can be effectively operated by the patient.

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Based on application, therapeutic bed industry is classified into ambulance and clinics, hospitals, and home care. Owing to the infrastructural changes and expansion strategies, hospital segment is predicted to lead the market in the years to come.

Geographically, therapeutic bed market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Due to the growing public funding in healthcare, which improve the settings of hospitals, Europe is predicted to dominate the market of therapeutic bed in future.

The prominent players in therapeutic beds industry comprise ArjoHuntleigh, Hard Manufacturing Co., Casco Solutions, Carital Ltd, Centromed Ltd., Grant Airmass Corporation, Gaymar Industries, Gendron, Inc., Hill Rom, Inc., Paramount Bed Co. Ltd., L I N E T spol. s r.o., Hill-Rom Holdings, Inc., Getinge Group, Invacare Corporation, Medline Industries, Inc., and Stryker.

Succinic Acid Market Will Reach Height of USD 237.8 million By 2025

The global Succinic Acid Market size is expected to value at USD 237.8 million by 2022. The succinic acid industry is subject to witness a substantial growth due to the substantial demand from various application verticals such as 1,4 butanediol, pharmaceuticals, and polyurethanes. Rapid growth of building &construction sector and automotive industry, particularly in the Asia Pacific region is expected to foster market growth over the forecast period.

High-end demand for production of resin, coating, and polyurethanes is positively affecting market growth as well. Succinic acid is considered as primary building block for the production of polyurethanes, resins, polybutylene succinate (PBS) and plasticizers. Succinic acid acts as a precursor for chemicals such as 1,4 butanediol (BDO). Globally, the succinic acid market is predicted to grow at CAGR of 12% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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However, volatility in the cost of crude oil price and limited availability of raw materials are expected to hamper market growth to a certain extent over the coming years. Yet, massive increase in the demand for bio-succinic acid owing to eco-friendly nature and favorable government policies for the use of green products among chemical manufacturers are anticipated to drive market growth over the next seven years. Bio-derived succinic acid is predicted to replace conventional chemicals such as butane-based maleic anhydride during production of succinic anhydride, fumaric acid, diethylmaleate, glyoxylic acid, and other plastics.

The succinic acid industry is broadly categorized into nine major segments based on the application type such as1,4 BDO, resins & coatings segment, dying and inks segments, pharmaceuticals, polyurethanes, food& beverages segment, plasticizers, cosmetics, solvent and lubricants, de-icing solutions. The resins & coatings is considered as one of the fastest growing segment in the succinic acid market with substantial revenue generation in the last few years.

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Growing popularity of succinic acid in the resins & coatings segment is attributed for the rise in demand from construction and the automotive industry. The pharmaceuticals segment has also witnessed substantial growth owing to the increasing medical tourism across the globe.

The succinic acid industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceuticals and resins & coatings sector, increase in number of research & development activities in the region, and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the succinic acid market displaying a massive growth in the forecast period. Countries such as India, China, South Korea and Japan are leading the Asia-Pacific market with strong economic growth in the region, rapid growth of automotive and construction sector, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the succinic acid industry are BioAmber, Inc., Anqing Hexing Chemical Co., Ltd., Reverdia, Inc., Gadiv Petrochemical Industries Ltd., Kawasaki Kasei Chemicals, Inc., Myriant Co., Showa Denko K.K., Succinity GmbH, and Nippon Shokubai Co., Ltd.

Polymer Modified Bitumen Market Will Generate About USD 13.34 billion By 2025

The global Polymer Modified Bitumen Market size is expected to value at USD 13.34 billion by 2022. The market is subject to witness a substantial growth due to the growing demand from various end-user industries such as building & construction industry and roofing industry, and increasing use as adhesive and coatings. Massive increase in infrastructural spending, particularly in developing economies across the globe such as India, China and Brazil are anticipated to fuel expansion over the next seven years.

Shifting trend towards polymer-modified bitumen over conventional form of bitumen for asphalt overlay due to its advanced set of properties and minimum maintenance cost are anticipated to foster the growth of polymer modified bitumen industry. Globally, the polymer modified bitumen market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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In addition, variation in changing climatic conditions coupled with heavy traffic hampers bitumen roads adversely, thus leading to cracks and rutting. Thus, increasing demand for polymer modified bitumen to comprehend such as factors are propelling market growth over the next seven years. Use of polymer-modified bitumen reduces the investment required for road maintenance every year. However, higher initial investment is one of the key challenges for market growth, in the recent years. Yet, polymer modified bitumen is highly cost-efficient, thus positively affecting market growth over the next seven years.

The polymer modified bitumen industry is broadly categorized into two major segments based on the product type such as thermoplastic elastomers and plastomers. The thermoplastic elastomers is considered as one of the fastest growing segment in the polymer modified bitumen market with substantial revenue generation in the last few years. Growing popularity of the thermoplastic elastomers segment is attributed to the increasing use as elastomeric materials and superior properties such as improved ageing resistance, low temperature flexibility and resistance to permanent deformation. The plastomers segment has also witnessed substantial growth.

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The polymer modified bitumen industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction sector, substantial growth in green roofing industry, and existence of well-established manufacturing infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the polymer modified bitumen market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing spending in infrastructure development in the region, favorable government policies, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the polymer modified bitumen industry are Total Oil India Pvt., Ltd., Benzene International Pte., Ltd., Lagan Asphalt Group, Nynas AB, Royal Dutch Shell plc, ExxonMobil Co., Gazprom NEFT Ltd., and Sika AG.

Personal Care Packaging Market Will Reach Height of USD 37.25 billion By 2025

Robust growth in the personal care & cosmetic industry is attributed to growing awareness about individual health and safety, increasing personal disposable income and improved lifestyle mainly in developed economies.

The global Personal Care Packaging Market size is expected to value at USD 37.25 billion by 2022. The market is subject to witness a substantial growth due to the soaring need for environment friendly and sustainable packaging solutions for cosmetics and personal care products. Robust growth in the personal care & cosmetic industry is attributed to growing awareness about individual health and safety, increasing personal disposable income and improved lifestyle mainly in developed economies.

Shift in customer preference towards organic cosmetics alongside large-scale consummation of sustainable products are expanding the market reach of the personal care packaging in near future. Globally, the personal care packaging industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the packaging industry.

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The recent technological advancement in the personal care & cosmetics industry coupled with development of advanced packaging solution are anticipated to boost market growth over the forecast period. In addition, growing manufacturing sector in South East Asian economies such as Singapore, South Korea, Taiwan and Malaysia is projected to escalate the growth of personal care packaging market in upcoming years. Rigid plastic packaging currently holds a higher market share in the personal care packaging.

Increasing adoption of the rigid plastic packaging materials is credited to their lightweight and eco-friendly nature, thus rocketing the demand of rigid plastic packaging in personal care packaging industry, in the recent years. Additionally, metal, glass and paper can be easily recycled for multiple use due to their flexibility. These factors are responsible for enlarged demands of rigid plastic in the market of personal care packaging. Other factors such as ease of use, simple operation and cost-effectiveness are complementing the market demand, in recent years.

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Paper and glass packaging solutions are gaining traction in personal care packaging market due to their biodegradable properties. Paper and glass packaging is ideal substitute for plastics in packaging & manufacturing of personal care products. These factors are largely influencing the market growth, thus creating lucrative opportunities for industry players during this period. Furthermore, increasing consumer awareness about environmental hazards with excessive use of plastic and complete ban on the use of the lightweight plastic materials in few countries are expected to amplify the growth of glass and paper packaging over the forecast period.

The personal care packaging industry is broadly categorized into four major segments based on the product type such as skin care, hair care, bath & shower and fragrances. The skin care is considered as one of the fastest growing segment in the market of personal care packaging with substantial revenue generation in the last few years. Growing popularity of the skin care segment is attributed to the growing consumer awareness and high-end demand from for skin care products from Asia-Pacific region. The bath & shower segment has also witnessed substantial growth owing to the growing awareness about health and hygiene among consumers.

The personal care packaging market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in packaging sector, increase in the demand for body washes, shower gels, bar and liquid soaps, and existence of well-established industrial infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the personal care packaging industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with growing demand for personal care products with lightweight packing, improved living standards, increasing disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the personal care packaging market are Amcor Ltd., Bemis Company, Inc., Mondi plc, Sonoco Products Company, Albea Group AG, Ardagh Group S.A., Ampac Holding and Crown Holdings, Inc., ITC Ltd., and WestRock Co.

Market Segment:

Global Personal Care Packaging Product Outlook (Revenue, USD Million, 2012 – 2022)
  • Flexible
  • Rigid plastics
  • Paper
  • Metal
  • Glass

UAV Payload Market Will Generate About USD 6.34 billion By 2025

UAV payload is the external weight a drone carries, irrespective of its mass. The weight comprises anything attached to the drone like extra sensors and cameras. Apart from the sensors, payloads also include cargo that need to be transported like medicines, meals, parcels and heavy materials (fire extinguishers, etc.).

What is UAV Payload ?

UAV payload is the external weight a drone carries, irrespective of its mass. The weight comprises anything attached to the drone like extra sensors and cameras. Apart from the sensors, payloads also include cargo that need to be transported like medicines, meals, parcels and heavy materials (fire extinguishers, etc.). UAVs like remote-controlled airplanes or helicopters are also gaining popularity for recreation& entertainment.

Increasing investment in research and development and technological innovations in Unmanned Aerial Vehicles causes boom in UAV payload Sector.

The driving factors for UAV payload market include rising need for mapping services and increased use of aerial imaging services in several industries across globe. Moreover, the acceptance of drone payload components like HD action cameras, thermal sensors, laser sensors, motion sensors, infrared sensors, CBRN sensors have increased substantially in recent years in the defense and military activities for electronic intelligence (Elint), (SIGINT) signal intelligence and surveillance. Drones are also widely being used for green mapping and crop management, which has propelled the demand for payloads in environment and agriculture sectors.

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Growing concerns like personal safety and fluctuations in aviation regulations in stipulated regions are hampering the growth of UAV payload industry. Besides, the market is expected to witness lucrative opportunities due to progressing market for location based facilities. UAV payload market is also strongly driven by increasing demand for UAVs (drones). This can be attributed to invention of newer technologies like next generation of unmanned combat devices and advancement of markets like consumer and civil drones. Despite technological advancements, UAV market is witnessing major challenges in terms of (SWaP) size, weight, and power. Hence, high performing components installed in UAVs, need hardware platform to overcome these challenges.

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UAV payload industry is categorized on the basis of components and geography. On the basis of components, the market is divided into radar & communications, weaponry, cameras & sensors, and others. Weaponry segment is predicted to grow considerably in the forecast period owing to rising adoption of UAVs in defense and military activities worldwide. Other payload devices are expected to experience steady growth rate in the coming years.

Geographically, UAV Payload market is segmented as North America, Europe, Asia Pacific and Middle East & Africa. North America (United States) spends heavily in UAV payload industry with significant expenditure for improving radar and communication abilities. Asia Pacific and Europe are also expected to dominate due to the rising investments in weaponry payloads and sensors & detection. The prominent players in UAV payload industry comprise AeroVironment, Lockheed Martin, Northrop Grumman, L-3 WESCAM, Rheinmetall, Thales, SAAB, General Dynamics, FLIR Systems, BAE Systems, Elbit Systems, Denel Dynamics, General Atomics Aeronautical Systems, Inc.(GA-ASI), Israel Aerospace Industries (IAI), and AAI Corporation.

Wax Melts Market Will Accomplish Outstanding USD 6.13 billion Figure By 2025

The global Wax Melts Market size is expected to value at USD 6.13 billion by 2025. The wax melts industry is subject to witness a substantial growth due to the growing demand for the product from numerous end-user segments coupled with their superior properties such as high gloss, non-toxicity, good water repellency and outstanding chemical resistance. Increasing demand for synthetic wax is attributed to its unique properties such as thermal degradation resistance; high temperature stability and good heat resistance are expected to fuel market growth over the next seven years.

Numerous application of wax melts in cosmetic application such as creams, eye make-ups and lipsticks are expected to boost market sale of wax melts, in the near future. Globally, the wax melts market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the wax melts industry.

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Increasing competition in the market has led to development of innovative products, thereby positively affecting market growth. Growing supply and demand gap is expected to offer lucrative growth opportunities for industry participants. Aggressive marketing strategies adopted by market players to gain competitive advantages over their counterparts are predicted to stimulate market growth further.

Shifting trend towards synthetic wax is key growth factor for hot melt adhesives market, in the recent years. Additionally, increasing consummation of natural waxes and declining use of microcrystalline and polyethylene waxes owing to their hazardous effects is leading to the increasing demand for natural waxes over the forecast period.

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Wax melts are increasingly used in various residential application such as home fragrance product. Wax melts are easily available in varied shapes, sizes, and colors. Increasing adoption of wax melts in commercial buildings, such as shopping malls, offices and market complexes are expected to promote market development over the next seven years.

The wax melts market is broadly categorized into two major segments based on the application type such as domestic products and cosmetic application. The cosmetics sector is considered as one of the faster growing segment in the wax melts industry with substantial revenue generation in the last few years. Growing popularity of the cosmetic segment is attributed to the increasing adoption in various skin-care products such as facemasks, creams and peels.

The is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the changing lifestyle, and existence of well-established manufacturing infrastructure. Asia-Pacific region is predicted to hold major market share in the wax melts market with massive growth in forecast period.

Countries such as India, China and Singapore are leading the Asia-Pacific market with growing consumer awareness, improved living standards, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the wax melts industry are Yankee Candle, Inc., SC Johnson Co., Scentsy, Reckitt Benckiser Ltd., and Rimports Ltd.

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