The Biopharmaceutical and Biomedicine Market is estimated to be valued at US$ 561,375.9 million in 2022 and is expected to exhibit a CAGR of 9.6% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Biopharmaceuticals and biomedicine refer to medical drugs and procedures produced using biological sources and biotechnology. Biopharmaceuticals and biomedicine provide advanced solutions for the treatment of complex diseases such as cancer and genetic disorders. They provide targeted drug delivery with minimal side effects. Market key trends: Personalized medicine has emerged as a key trend in the biopharmaceutical and biomedicine market. Personalized medicine involves tailoring medical treatment according to the patient's genetic makeup and molecular profile. It aims to provide targeted healthcare by classifying individuals into distinct categories based on their genetic and/or phenotypic characteristics. Personalized medicine offers benefits such as improved diagnosis, prevention and treatment of diseases. Advancements in fields such as genomics, bioinformatics and diagnostics have enabled development of personalized medicine solutions. Growing adoption of personalized medicine is expected to drive significant growth of the biopharmaceutical and biomedicine market over the forecast period. Porter’s Analysis Threat of new entrants: The biopharmaceutical and biomedicine market requires huge R&D investments and regulatory approvals which make entry difficult for new players. Bargaining power of buyers: The bargaining power of buyers is moderate as the biopharmaceutical products available are unique with patented technologies. Bargaining power of suppliers: A few global players dominate the supply chain of biopharmaceutical raw materials which gives them bargaining power over buyers. Threat of new substitutes: No close substitutes are available for biopharmaceutical products as they provide personalized treatment through innovative technology. Competitive rivalry: High. SWOT Analysis Strength: Wide range of innovative biopharmaceutical products with strong intellectual property protection. Growing demand for personalized medicines across the globe. Weakness: Heavy dependence on blockbuster drugs patents expiries. High R&D investments and regulatory compliance requirements increase operational costs. Opportunity: Rising prevalence of chronic and lifestyle diseases. Emerging economies provide high growth prospects. Threats: Stringent regulatory framework. Threat from generics post patent expiries of major drugs. Key Takeaways The global biopharmaceutical and biomedicine market is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period, due to increasing prevalence of chronic diseases and growing demand for personalized medicine. The US dominates the market with a share of over 35% in 2022 due to presence of majority of key players and favourable regulatory environment for drug development. The Asia Pacific region is expected to grow at the fastest pace over the next few years supported by expanding healthcare infrastructure, rising medical tourism and growing geriatric population in China and India. Regional analysis - North America will continue to dominate the global market supported by rising healthcare spending and growing inclination towards targeted therapies. However, Asia Pacific is poised to offer lucrative opportunities with growing rate of 9.7% from 2022-2030 driven by presence of contract research organizations catering to the outsourcing needs of biopharmaceutical companies and expansion of healthcare infrastructure in emerging economies. Key players operating in the biopharmaceutical and biomedicine market are Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd. Read More: https://www.rapidwebwire.com/biopharmaceutical-and-biomedicine-market-is-estimated-to-witness-high-growth/
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Flexible Packaging Market is Estimated To Witness High Growth Owing To Sustainable Material Use10/31/2023 The Flexible Packaging Market is estimated to be valued at US$ 68.5 Billion in 2022 and is expected to exhibit a CAGR of 4.6% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Flexible packaging is a product packaging solution that can be easily bent and twisted without cracking. It involves the use of more plastic than traditional packaging solutions but offers convenience and is lightweight. Flexible packaging finds applications in foods & beverages, healthcare, industrial, and other industries. The advantages of flexible packaging include barrier properties, easy sealing, easy removal of contents, lightweight, and microwave compatibility. Market key trends: One of the major trends driving the flexible packaging market growth is the increasing preference for sustainable packaging materials. Rising environmental concerns have prompted packaging companies to focus on the development of sustainable packaging solutions made from recycled or bio-based content. Some companies are using post-consumer recycled content in flexible films while others are exploring alternative recyclable materials like plant-based plastics. The use of sustainable materials offers an environment-friendly alternative to consumers and helps companies meet their sustainability goals. However, high material and production costs remain a challenge for widespread adoption of sustainable flexible packaging. Porter’s Analysis Threat of new entrants: Low capital requirements and availability of raw material has led to low threat of new entrants in the market. Bargaining power of buyers: Large number of buyers in food, beverage and other sectors have given buyers higher bargaining power in the market. Bargaining power of suppliers: Few global players control the supply of raw materials like polymer resins and films, increasing their bargaining power. Threat of new substitutes: Paper is a major substitute but lacks properties like durability and shelf life stability offered by flexible packaging films. Competitive rivalry: Intense competition exists between the key global players. SWOT analysis Strength: Flexible packaging offers properties like moisture protection, durability and versatility making it suitable for various products. Weakness: Additional processing steps and machinery required for flexible packaging increase production costs compared to alternatives. Concerns regarding use of plastics and environmental sustainability remain a challenge. Opportunity: Growth in e-commerce and on-the-go consumption trends along with focus on active and intelligent packaging by brands offer opportunities for innovation and new product development. Threats: Stringent government regulations regarding use of plastics and adoption of single use plastic bans pose threats. Volatility in raw material prices also affects profitability. Key Takeaways The global flexible packaging market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing demand for convenient and sustainable packaging formats from food and beverage industry. The US market currently dominates owing to presence of key players and growth in packaged food consumption. Asia Pacific is expected to grow at fastest pace during the forecast period due to rising disposable incomes, population and economic growth in countries like China and India. Countries like Brazil and Mexico will also support growth in Latin America. Key players operating in the flexible packaging market are Amcor Limited, Bemis Company, Sealed Air Corporation, Berry Plastics Group, Inc., Mondi Group, Sonoco Products Co., Huhtamäki Oyj, Constantia Flexibles Gmbh, Ampac Holdings, Llc, Bischof + Klein, Wipak Group, AR Packaging, Goglio Group, Schur Flexibles, Clondalkin Group, and Flair Flexible Packaging Solution. These players are focused on new product launches, capacity expansions and mergers & acquisitions for sustained growth. Read More: https://www.rapidwebwire.com/flexible-packaging-market-to-witness-rapid-growth-due-to-enhanced-product-durability-extended-shelf-life/ The Artificial Intelligence (AI) in Genomics Market is estimated to be valued at US$ 1.15 Bn in 2023 and is expected to exhibit a CAGR of 50.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Artificial intelligence (AI) in genomics is the application of machine learning and deep learning to analyze data from DNA sequencing and other high-throughput biomedical technologies. AI enables fast processing of huge genomic datasets and helps in detecting patterns, making predictions, and accelerating scientific discoveries. AI has various applications in genomics including genome analysis, diagnostics, drug discovery, and precision medicine. Advances in AI and machine learning are helping researchers tackle challenges in genomics that were previously time-consuming or intractable. Market key trends: The increasing adoption of AI by pharmaceutical companies is expected to drive the growth of the AI in genomics market during the forecast period. Pharmaceutical companies are increasingly using AI and machine learning algorithms to analyze genomic data and accelerate drug development processes. AI helps identify promising drug targets based on insights gleaned from large genomic datasets. It also speeds up clinical trials by improving patient selection and monitoring of drug responses. AI plays a key role in precision medicine initiatives of pharmaceutical firms to develop targeted therapies tailored to a patient’s genetic profile. Several AI startup companies have also been set up to collaborate with big pharma on genome-driven drug discovery and development utilizing deep learning models. This growing adoption of AI by pharmaceutical industry is one of the key trends that will fuel the expansion of the AI in genomics market over the coming years. Porter’s Analysis Threat of new entrants: The threat of new entrants in the AI in Genomics market is low to moderate due to the requirement of high capital investment for R&D and having a specialized skillset to develop technological tools for genomics applications. Bargaining power of buyers: The bargaining power of buyers in the AI in Genomics market is moderate as the customized solutions as per buyer requirement increases buyer alternatives. Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers providing different software and platforms for AI in genomics applications. Threat of new substitutes: The threat of new substitutes in the AI in Genomics market is low as there are limited alternative options for precision medicines based on genomics data analysis. Competitive rivalry: High. SWOT Analysis Strength: AI in genomics aids in interpreting complex genomic data, increasing capability to diagnose rare diseases. Weakness: Lack of skilled workforce and data security & privacy issues restrict market growth. High infrastructure costs involved in developing AI solutions. Opportunity: Increasing funding from government and private investors boosts product development. Growing genomics data volumes offer huge growth potential. Threats: Regulatory uncertainties and standardization issues pose challenges. System interoperability and IP issues affect commercialization. Key Takeaways The global Artificial Intelligence (AI) in Genomics Market is expected to witness high growth, exhibiting CAGR of 50.1% over the forecast period, due to increasing demand forprecision medicine. North America dominated the AI in Genomics market in 2023 due to supportive initiatives by government and presence of leading companies in the US. Regional analysis The US AI in Genomics market is expected to grow at a high rate during the forecast period owing to heavy investments in developing precision drugs. presence of key market players, and rising R&D activities of biotechnology and pharmaceutical companies in the country.The Asia Pacific region exhibits high growth potential for AI in Genomics market driven by rising healthcare expenditure, increasing incidence of chronic diseases, and developing research infrastructure in major Asian countries including China and India. Key players operating in the Artificial Intelligence (AI) in Genomics market are Fabric Genomics, International Business Machines, MICROSOFT, NVIDIA, AI Therapeutics, Ares Genetics, Benevolent AI, Deep Genomics, DIPLOID and among others. Read More: https://www.rapidwebwire.com/artificial-intelligence-ai-in-genomics-market-to-witness-significant-growth/ The Aerial Work Platform (AWP) Truck Market is estimated to be valued at US$ 11643.3 Mn in 2022 and is expected to exhibit a CAGR of 11.2% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Aerial work platforms or aerial trucks are vehicles used for temporary elevated access for people or equipment to inaccessible heights. They include boom lifts, scissor lifts, aerial ladders and other mobile elevating work platforms. AWP trucks help perform maintenance, construction and inspections in high places safely. They provide an alternative to traditional dangerous work methods like ladders and scaffolding. Market key trends: The aerial work platform truck market is expected to witness substantial growth owing to increasing urbanization and rising construction activities globally. According to the United Nations, the urban population is projected to grow to 6.7 billion by 2050 from 4.2 billion in 2018. This rapid urbanization coupled with rising infrastructural development will fuel the demand for AWP trucks during construction, maintenance and renovation of buildings and structures. Furthermore, increasing industrialization in emerging economies of Asia Pacific and Latin America has augmented the need for heavy machinery like AWP trucks for various industrial applications which is estimated to drive the growth of the market over the forecast period. Porter’s Analysis Threat of new entrants: Low costs of manufacturing and purchasing existing equipments pose low threat to new entrants. However, dominance of existing players with established distribution network creates hurdles. Bargaining power of buyers: Large buyers like construction companies can negotiate on prices due to their high purchase volumes. However, differentiated product offerings by manufacturers ensure that barganing power remains moderate. Bargaining power of suppliers: Major raw materials include steel and electronic components. Dominance of few suppliers for these materials results in moderate bargaining power. However, availability of substitutes maintain pricing pressure. Threat of new substitutes: Technological innovations can lead to development of substitutes like drone-based inspection. However, advantages of personnel safety, payload capacity and vertical reach make AWP trucks irreplaceable for now. Competitive rivalry: Intense due to large number of global and regional manufacturers competing on product quality, pricing and service offerings. SWOT Analysis Strengths: Safety, productivity & efficiency gains for personnel working at height. Payload capacity and vertical reach for access applications. Weaknesses: High acquisition and operational costs. Technical complexity leads to need for trained operators. Opportunities: Infrastructure growth in developing nations. Increasing construction of high-rise buildings and wind farms. Technological advancements for remote operation, electrification etc. Threats: Trade barriers and import restrictions across regions. Stringent safety regulations increasing compliance costs. Economic slowdowns affecting construction spending. Key Takeaways The global Aerial Work Platform (AWP) truck market is expected to witness high growth, exhibiting CAGR of 11.2% over the forecast period, due to increasing investments in infrastructure development and construction activities worldwide. The market was valued at US$ 11643.3 Mn in 2021. Regional analysis: North America dominated the global market in 2021 with over 30% market share owing to rising number of infrastructure projects and presence of major manufacturers in US and Canada. Asia Pacific is projected to witness fastest growth during the forecast period, driven by infrastructure developments in China, India and Southeast Asian countries. Key players: Key players operating in the AWP Truck market are XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., AICHI CORPORATION, Altec Industries, Bronto Skylift, Hunan RUNSHARE Heavy Industry Company, Ltd., Dinolift, HAULOTTE GROUP, Hunan Sinoboom Intelligent Equipment Co, Ltd., JLG Industries, Inc., Manitou Group, Niftylift (UK) Limited, Skyjack, Zhejiang Dingli Machinery Co, Ltd., Linamar Corporation, Manitex International. These players are focusing on new product launches, partnerships and expansions to increase geographic footprint and market share. Read More: https://www.rapidwebwire.com/aerial-work-platform-awp-truck-market-is-estimated-to-witness-high-growth/ Interior Fit Out Market is Estimated To Witness High Growth Owing To Modular Construction10/31/2023 The Interior Fit Out Market is estimated to be valued at US$ 58.91 billion in 2022 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Interior fit out refers to the process of refining and finishing the interior of a building to make it suitable for occupancy. It includes installation of flooring, wall paneling, lighting, fixtures, furnishings and other such elements. Interior fit out improves functionality, workflow and aesthetics of commercial spaces like offices, retail stores, restaurants and others. It plays a vital role in branding and creating the right experience for customers and employees. Market key trends: One of the major trends propelling the growth of the interior fit out market is increasing adoption of modular construction. Modular construction involves manufacturing components or modules of a structure in an off-site manufacturing facility and then assembling them together on-site. For interior fit outs, prefabricated modular components like walls, ceilings, fixtures etc are manufactured according to design specifications and then installed together. This offers advantages like reduced construction time, minimized wastage, and improved quality control. With construction schedules getting tighter, modular construction is gaining traction in the interior fit out industry as it allows spaces to be completed faster and efficiently. The report expects this trend to significantly drive the demand for interior fit outs globally over the forecast period. Porter’s Analysis Threat of new entrants: Low capital requirements and availability of established suppliers pose low threat of new entrants. Bargaining power of buyers: Large buyers like governments and corporates have high bargaining power due to their bulk buying capability. Bargaining power of suppliers: Presence of many suppliers with fragmented supply base gives buyers more negotiating power over suppliers. Threat of new substitutes: Minimal threat since interior fit out services have limited substitutes. Competitive rivalry: High competition exists among the established players operating in the market. SWOT Analysis Strengths: Established brands and global presence of key players, diversified portfolio of services. Weaknesses: Cyclical nature of construction industry impacting demand, high dependency on economic conditions. Opportunities: Growth in commercial sector development projects, rising demand for green building projects. Threats: Volatility in raw material prices, shortage of skilled workforce. Key Takeaways The global Interior Fit Out market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing commercial construction activities globally. The market size is projected to reach US$ 58.91 billion by 2023. Regional analysis - North America dominates the global interior fit out market currently owing to rise in industrial and commercial construction in the US. Asia Pacific is expected to witness the fastest growth due to increasing investments in infrastructure development projects in China and India. Key players operating in the interior fit out market are Turner Construction Company, Jacobs Engineering Group Inc., HOK Group, Inc., Skanska AB, AECOM, Balfour Beatty plc, Gensler, Lendlease Group, ISG plc, DPR Construction, PCL Construction Enterprises, Inc., Structure Tone, Clark Construction Group, LLC, HBA, JLL (Jones Lang LaSalle). The key players are focusing on expanding their service portfolio and geographical footprint through mergers and acquisitions. Read More: https://www.rapidwebwire.com/biotech-medical-equipment-innovation-drives-growth-in-the-global-interior-fit-out-market/ The Cold Chain Packaging Market is estimated to be valued at US$ 22.39 Bn in 2022 and is expected to exhibit a CAGR of 9.70% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The cold chain packaging market deals with temperature controlled packaging solutions and transportation for temperature sensitive products such as pharmaceuticals, food, and beverages. These packaging solutions maintain optimum temperatures of perishable products throughout the supply chain and help extend their shelf life. They make use of materials such as gel packs, insulated shippers, refrigerants, and phase change materials to ensure temperature safety during transportation and storage. Growing healthcare and food industries have fueled the demand for cold chain packaging in recent years. Market key trends: One of the major trends driving the growth of the cold chain packaging market is enhanced cold chain monitoring. The implementation of advanced tracking technologies allows stock visibility across the supply chain and helps detect temperature fluctuations in real time. Players are increasingly offering smart and digital cold chain packaging solutions integrated with IoT devices, RFID tags, sensors, and mobile apps for remote monitoring of shipments. This helps avoid spoilage due to temperature excursions and improves logistical efficiency. The growing popularity of connected cold chain solutions indicates their rising adoption to enhance cold chain integrity and meet the stringent quality standards of various industries. Porter's Analysis: Threat of new entrants: Low capital requirements and established brand loyalty by customers pose low threat to new entrants. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and price sensitivity of products. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and less differentiation in products. Threat of new substitutes: Low threat as cold chain packaging solutions have few substitutes that can provide the same functionality. Competitive rivalry: High as the market is fragmented with the presence of several regional and international players. SWOT Analysis: Strengths: Thermo-resistant properties and ability to maintain temperature range during transportation are the key strengths. Weaknesses: High initial costs and complexities in logistics and supply chain management pose challenges. Opportunities: Increasing demand from food, pharmaceutical and healthcare sectors due to stringent regulations present opportunities. Threats: Volatility in raw material prices and strictrules pertaining to recyclability and sustainability remain threats. Key Takeaways: The global cold chain packaging market is expected to witness high growth, exhibiting CAGR of 9.70% over the forecast period, due to increasing demand for temperature-sensitive drugs and foods. The market size for 2021 was US$ 22.39 Bn. North America holds the major share of the global cold chain packaging market currently and is expected to continue dominating over the forecast period. This is attributed to stringent regulations regarding food safety and growing demand for processed and packaged foods in the region. Asia Pacific is projected to grow at the fastest rate owing to rising pharmaceutical and food industries, expanding retail sector, and growing consumer awareness in countries such as India and China. Key players operating in the cold chain packaging market are Pelican BioThermal LLC, Sonoco Thermosafe, Cold Chain Technologies Inc., Cryopak, Sofrigam Company, Intelsius (A DGP Company), Coolpac, Softbox Systems Ltd, Clip-Lok SimPak, and Chill-Pak. Read More: https://www.rapidwebwire.com/global-cold-chain-packaging-market-estimated-to-witness-high-growth/ The Subscription and Recurring Payment Market is estimated to be valued at US$ 154.05 Bn in 2022 and is expected to exhibit a CAGR of 18.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The subscription and recurring payment market deals with providing seamless payment solutions to merchants for subscription-based services. With the growing digitization across industries, many businesses are adopting subscription-based models for continuous revenue. This payment model allows merchants to charge customers periodically for access to services or content. It provides a stable revenue stream to companies. Market key trends: The subscription model has gained immense popularity in recent years across industries like e-commerce, software-as-a-service (Saas), video and music streaming. Customers are habituated to pay small amounts regularly for continuous access to services rather than making one-time large purchases. This has boosted the demand for sophisticated payment gateways that can handle recurring transactions efficiently. Moreover, pandemic has accelerated the shift towards digital subscriptions for entertainment, fitness, education etc driving growth of subscription and recurring payment market. Porter's Analysis Threat of new entrants: The threat of new entrants is moderate as the market requires high initial investments and established distribution networks. However, online e-commerce has lowered some barriers to entry. Bargaining power of buyers: The bargaining power of buyers is high due to the availability of various payment options and substitutes in the market. Buyers can easily switch between payment providers. Bargaining power of suppliers: The bargaining power of suppliers is moderate as the industry relies on a few core processors and digital payment platforms for services. Threat of new substitutes: The threat of new substitutes is high as technology is continuously revolutionizing payments with new solutions like cryptocurrencies and digital wallets. Competitive rivalry: Intense. SWOT Analysis Strength: Established brands and trust among consumers. Large customer base and recurring revenues. Weakness: Legacy systems require high maintenance costs. Vulnerable to security breaches and privacy issues. Opportunity: Growth in e-commerce and online payments in developing markets. Emerging technologies like AI and blockchain. Threats: Stringent regulations around data privacy. Increased competition from fintech startups. Key Takeaways The global subscription and recurring payment market is expected to witness high growth, exhibiting CAGR of 18.5% over the forecast period, due to increasing digitization of payments and prominence of subscription-based business models. Regional analysis North America is expected to dominate the global market, owing to high adoption of digital payments and presence of key players in the US and Canada. However, Asia Pacific is projected to exhibit the fastest growth rate during the forecast period with strong growth of e-commerce platforms and digital payments in major economies like China and India. Key players operating in the Subscription and Recurring Payment market are PayPal, Stripe, Square, Recurly, Chargify, Zuora, FattMerchant, Payment Depot, PaymentEvolution, FastSpring, Chargebee, Spreedly, ChargeOver, Chargent, Vindicia, Chargify, Razorpay, Cashfree, CCAvenue, and BillDesk. Read More: https://www.rapidwebwire.com/the-subscription-and-recurring-payment-market-is-estimated-to-witness-high-growth-owing-to-increasing-digital-adoption-and-personalized-offers/ The Electric Vehicle Battery Market is estimated to be valued at US$ 35.17 Billion in 2022 and is expected to exhibit a CAGR of 23.64% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Electric vehicle batteries are rechargeable batteries used to power the propulsion of battery electric vehicles. Lithium-ion batteries are most commonly used batteries in electric vehicles owing to their high energy density, low self-discharge, and minimal memory effect compared to lead-acid and nickel-based batteries. Lithium-ion batteries provide power to electric motors present in electric vehicles that convert stored electrical energy into mechanical energy. Market key trends: Rising adoption of electric vehicles is expected to be a major driver of the electric vehicle battery market growth over the forecast period. Growing environmental concerns and stringent emission regulations have compelled many countries to support adoption of electric vehicles. Various governments around the world are providing subsidies and tax incentives for purchase of electric vehicles. For instance, in the US, a federal income tax credit of up to $7,500 is offered for purchase of new electric vehicles. Such initiatives are increasing demand for lithium-ion batteries, thereby supporting electric vehicle battery market growth. Porter's Analysis Threat of new entrants: New players need huge capital investments in lithium-ion battery manufacturing plants, which poses high entry barriers. Bargaining power of buyers: Buyers have moderate bargaining power owing to the presence of various stationary energy storage system providers. Bargaining power of suppliers: Suppliers have high bargaining power as raw materials such as lithium, cobalt, and nickel are concentrated among a few players globally. Threat of new substitutes: Emerging technologies such as hydrogen fuel cells are potential substitutes but are currently not commercially viable. Competitive rivalry: Intense competition exists among existing players to gain higher market share through product innovation and contracts. SWOT Analysis Strengths: Growing demand for reliable power storage from industrial sectors and increasing investments in renewable energy projects drive the market growth. Weaknesses: High initial costs of energy storage systems and lack of standardization affect wider adoption. Extended warranty periods needed to attract more commercial and industrial customers. Opportunities: Favorable government policies and regulations regarding carbon emissions reduction and push for sustainable development create lucrative opportunities. Threats: Geopolitical issues related to raw material supply and price fluctuations pose major threats. Trade barriers and import restrictions affect global supply chains. Key Takeaways The global stationary energy storage market is expected to witness high growth, exhibiting CAGR of 23.64% over the forecast period, due to increasing investments in renewable energy integration and decentralized power generation projects. The US market dominates currently due to supportive federal and state policies promoting clean energy. The Asia Pacific region is poised to grow at the fastest pace during the projected timeframe owing to rising energy demand, government initiatives for universal electrification, and growing manufacturing sector in China and India. Key players operating in the stationary energy storage market are Tesla, Duracell Power Center, Durapower Group, Contemporary Amperex Technology Co., Limited (CATL), and Toshiba Corporation. Tesla leads the residential energy storage space with its Powerwall product while CATL dominated the utility-scale stationary storage market in 2021. Read More: https://www.rapidwebwire.com/stationary-energy-storage-market-to-witness-significant-growth-due-to-increasing-adoption-of-renewable-energy-sources-and-growing-demand-for-backup-power/ The Recycled Plastic Granules Market is estimated to be valued at US$ 2.96 Bn in 2022 and is expected to exhibit a CAGR of 3.3% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Recycled plastic granules are produced from post-consumer and post-industrial plastic waste which undergoes various processes like sorting, shredding, washing and drying. They find wide applications in construction, transportation, packaging and infrastructure industries. Being cost-effective and environment-friendly, recycled plastic granules help reduce the dependence on virgin plastic. Market key trends: The rising environmental concerns over widespread plastic pollution have increased the demand for recycled plastic granules from manufacturing industries. According to estimates, around 300 million tons of plastic waste is generated annually around the world. Recycling plastic waste helps curb pollution and reduces the burden on landfills. Furthermore, stringent regulations against the use of virgin plastics in various countries are propelling the recycled plastic granules market. For instance, the European Union has imposed a ban on certain single-use plastic items like straws, cutlery, plates from 2021. This is expected to boost the consumption of recycled plastic resins in the region in the coming years. Porter’s Analysis Threat of new entrants: Recycled plastic granules requires high capital investment for recycling plants and machineries, reducing threat of new players. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, environmental concerns increase buyer's preference for recycled plastic granules. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of recycled plastic waste from various end-use industries. Threat of new substitutes: Threat from new substitutes like bio-plastics and virgin plastics is moderate due to high costs and environmental concerns favoring recycled plastic granules. Competitive rivalry: Competition is high among established players operating recycling plants. SWOT Analysis Strength: High demand for recycled plastic due to environmental regulations favoring sustainability. Varied applications in packaging, construction, automotive industries. Weakness: Require advanced recycling technology and high investment. Quality issues and contamination of recycled plastic granules. Opportunity: Government support and policies promoting plastic waste recycling and reuse. Growth in Asia Pacific region due to increase in plastic waste generation. Threats: Fluctuation in recycled plastic waste supply. Competition from substitutes specially in developing nations. Key Takeaways The global recycled plastic granules market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing environmental regulations banning virgin plastics and focusing on sustainability. Regional analysis indicates that Asia Pacific dominates the global recycled plastic granules market, accounting for over 35% of the global volume share in 2021. The region is expected to continue its dominance owing to rapidly growing construction and packaging industries generating huge plastic waste in countries such as China, India. North America and Europe are also significant markets expected to grow at notable rates through 2030 due to stringent regulations regarding plastic waste management and reuse. Key players operating in the recycled plastic granules market are Polyclean Technologies Inc., Goverdhan Polygran Pvt. Ltd., Nidhi Enterprises, S.S.B Polymers & S.S.B Enterprises, The Shakti Plastic Industries, Dar AI Khaleej Plastics, GRM Polymer, Jai Shree Balaji Plastic, Kamal Polyplast, Mittal Polymers, Nahata Plastics, Navkar Industries, Amruta Plastic, Raza Traders, Vanshika Plastic Industry, Wiwat Plastic, and Xiamen Keyuan Plastic Co., Ltd. Major players are focusing on expansion of recycling facilities and new product launches catering to applications in construction, automotive and packaging industries. Read More: https://www.rapidwebwire.com/market-for-recycled-plastic-granules-is-estimated-to-witness-growth/ The Quantum Sensors Market is estimated to be valued at USD 470.05 million in 2022 and is expected to exhibit a CAGR of 15.50% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Quantum sensors utilize the quantum properties of matter, such as superposition and entanglement, to achieve unprecedented levels of precision and sensitivity for measuring physical quantities like magnetic fields, temperature, electric fields, and radiation. Key advantages of quantum sensors include high sensitivity, accuracy, resolution and robustness. They are increasingly finding applications in sectors like aerospace, defense, oil and gas, healthcare etc. where precise monitoring and detection is important. Market key trends: One of the key trends driving growth in the quantum sensors market is increased demand from the aerospace and defense sector. Aerospace and defense organizations are investing heavily in developing quantum-enabled technologies for applications such as navigation, communication, sensing etc. Quantum sensors promise game-changing capabilities for defense like unhackable communication, precision navigation and guiding of missiles and precision detection and imaging. They can help enhance situational awareness, precision targeting, and other defense capabilities. Many countries are actively working on developing quantum technologies including quantum sensors for defense and national security applications. For instance, the UK and USA announced funding of over $1 billion each in 2021 for research in quantum technologies including sensors for defense use cases. This growing focus and investments from defense agencies is expected to significantly boost adoption of quantum sensors during the forecast period. Porter's Analysis Threat of new entrants: Low cost of production and market saturation makes entry difficult. Bargaining power of buyers: Large customers can negotiate better pricing and volumes. Bargaining power of suppliers: Suppliers have less influence due to availability of substitutes. Threat of new substitutes: Emergence of new technologies pose a threat to established players. Competitive rivalry: Intense competition due to presence of numerous global and regional players. SWOT Analysis Strengths: Technological advancements, growing demand from various industries. Weaknesses: High R&D costs, shortage of skilled workforce. Opportunities: Emerging applications in healthcare, transportation sectors. Threats: Trade barriers, stringent regulations hinder market growth. Key Takeaways The global quantum sensors market size is expected to witness high growth at a CAGR of 15.50% over the forecast period due to increasing demand for quantum technologies in healthcare, industrial, and transportation sectors. North America dominates the market currently due to presence of key players and rapid adoption of advanced technologies in the region. The market in Asia Pacific is expected to grow at the fastest rate during the analysis period. Key players operating in the quantum sensors market are LI-COR Inc., AOSense Inc., Campbell Scientific Ltd., Apogee Instrument Inc., Skye Instruments Ltd., M Squared Lasers Ltd., Robert Bosch GmbH, and Muquans SAS. These players are focusing on new product launches and strategic collaborations to strengthen their market position. Read More: https://www.rapidwebwire.com/quantum-sensors-market-estimated-to-witness-high-growth-driven-by-emerging-wide-range-of-applications-and-growing-demand-for-sub-atomic-precision-systems/ |
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