A Market Place Research – Page 28

Petroleum Resins Market Exploration: An Analysis of Industry Developments and Growth Forecast 2023-2032

The petroleum resins market was valued at $2.5 billion in 2018 and is estimated to reach $4.0 billion by 2028, exhibiting a CAGR of 5.2% from 2023 to 2028.

Petroleum Resins, also referred to as hydrocarbon Resins or Petrochemical Resins, are synthetic resins composed of petroleum or petroleum-based materials. They are manufactured by polymerizing petroleum or petroleum-derived by-products. Examples of such by-products include C5, C9, and DCPD (dicyclopentadiene).

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The global petroleum resins market is experiencing growth due to several factors, such as increased demand from the building and construction industry, a rise in consumer awareness of baby hygiene products, and increased demand for hydrogenated hydrocarbon resins from the food packaging industry. However, the fluctuating prices of raw materials may limit the growth of the market to some extent. On the contrary, the automotive and aerospace industries often require high-performance materials, including petroleum resins, for applications such as adhesives, coatings, and composite materials. As these sectors continue to expand, there’s an opportunity to provide specialized resin solutions that meet their stringent requirements for performance and durability.

Based on resin, the C5 Resins segment held the highest market share in 2018, accounting for more than half of the global petroleum resins market and is projected to maintain its leadership status throughout the forecast period. As industrialization and urbanization continue in emerging economies, the demand for products that use C5 petroleum resins is likely to increase. This is particularly evident in industries such as construction, automotive, and consumer goods. However, the hydrogenated hydrocarbon resins segment would display the highest CAGR of 5.4% from 2023 to 2028.

Based on application, the adhesives and sealants segment held the highest market share in 2018, accounting for nearly one-third of the global petroleum resins market and is projected to maintain its leadership status throughout the forecast period. The surge in population, rise in urbanization, and increase in government spending boosts the growth of the building & construction sector to witness significant growth where adhesives & sealants are widely used to fill cracks, openings, and seal joints. However, the paints and coatings segment is projected to grow at the highest CAGR of 5.5% from 2023 to 2028. Petroleum resins cannot be used alone, usually with other substances and as blends to improve the performance of paints & coatings. In the coatings industry, petroleum resin can be combined with other resins to achieve lower costs, improve product gloss, hardness, water resistance, stability and chemical resistance, and other properties of purpose.

Based on end use industry, the building and construction segment held the highest market share in terms of revenue in 2018, accounting for nearly one-fourth of the global petroleum resins market and is projected to maintain its lead position throughout the forecast period. Petroleum resins in industry are used as adhesives and sealants. Their inclusion in these formulations significantly improves adhesion and bonding properties, ensuring a strong and reliable attachment among different building materials. From windows and doors to flooring and roofing, petroleum resin-based adhesives contribute to the overall stability and durability of constructed elements. However, the personal hygiene segment is projected to grow at the highest CAGR of 5.7% from 2023 to 2028. An increase in disposable income and a rise in healthcare spending on personal hygiene are anticipated to play a significant role in the expansion of the personal hygiene business.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2018, accounting for more than half of the global petroleum resins market and is projected to maintain its dominance during the forecast period. The same region would also display the highest CAGR of 5.4% from 2023 to 2028. The increase in urbanization and infrastructure development in the region has led to a rise in construction activities. Petroleum resins are essential components in construction adhesives and sealants, enhancing their performance and durability.

Leading Market Players: –

Arakawa Chemical Industries.
Exxon Mobil Corporation
Henan Anglxxon Chemical Co. Ltd.
Innova (Tianjin) Chemical Co. Ltd

Kolon Industries, Inc.
Lesco Chemical Limited
Neville Chemical Company
Puyang Tiancheng Chemical Co. Ltd.
Ruisen Resin Co. Ltd.

Synthomer Plc

The report provides a detailed analysis of these key players in the global petroleum resins market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Hydrogen Cyanide Market 2023: A Study of the Leading Regions and Players in Industry Forecast till 2032

The global hydrogen cyanide industry was valued at $1.2 billion in 2022 and is projected to reach $1.5 billion by 2032, growing at a CAGR of 2.2% from 2023 to 2032.

Hydrogen cyanide (commonly referred to as prussic acid) is an organic compound with the molecular formula HCN and the structural formula H+C+N. The liquid is colorless, highly toxic, and highly flammable. It boils at a temperature slightly higher than room temperature (25.6°C/78.1°F). HCN is manufactured on a commercial scale and is an essential raw material for a variety of chemical products, including polymers and pharmaceuticals. Potassium cyanide is a volatile organic compound with large-scale applications in the mining industry and plastics industry. Potassium cyanide is more toxic than a solid cyanide compound due to its volatile nature.

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The global hydrogen cyanide market is experiencing growth due to several factors such as an increase in demand for hydrogen cyanide from the pharmaceutical industry as hydrogen cyanide is widely utilized in the synthesis of pharmaceuticals, including sedatives, anesthetics, and analgesics, and an increase in demand for hydrogen cyanide from the agricultural sector. However, the health and safety risks associated with hydrogen cyanide hinder market growth to some extent. Moreover, increasing demand for HCN from the aerospace and defense industry offers remunerative opportunities for the expansion of the Hydrogen cyanide market.

Impact of Russia-Ukraine War on the Hydrogen Cyanide Market-

Hydrogen cyanide (HCN) is primarily used in the production of various chemicals, including acrylic fibers, plastics, dyes, and pesticides. The availability and pricing of hydrogen cyanide can be influenced by factors such as supply disruptions, political instability, trade restrictions, and regional conflicts.
In the case of the conflict between Russia and Ukraine, there were disruptions in the supply chain of hydrogen cyanide due to political tensions and military activities, which potentially impacted the market. Ukraine was one of the major global producers and exporters of hydrogen cyanide. The conflict directly affected the production facilities or transportation routes in Ukraine, leading to supply shortages and logistical challenges. Moreover, geopolitical tensions impacted international trade and resulted in trade restrictions or sanctions imposed by various countries. These restrictions were expected to further disrupt the hydrogen cyanide market by limiting imports or exports from the region affected by the conflict.

Based on product, the hydrogen cyanide liquid segment held the highest market share in 2022, accounting for around three-fifths of the global hydrogen cyanide market revenue and is expected to maintain its lead position throughout the forecast period. This can be attributed to the fact that hydrogen cyanide liquid is used in industrial processes and serves as a vital raw material to produce chemicals such as plastics. HCN liquid has a low boiling point and easily vaporizes at room temperature. It is also utilized in waste treatment and recycling applications, where its usage can help reduce pollution and promote eco-friendly practices. However, the hydrogen cyanide gas segment is projected to manifest the highest CAGR of 2.2% from 2023 to 2032. This can be attributed to the fact that hydrogen cyanide gas is used as a fumigant and insecticide in the agriculture industry. It is also employed in the treatment of stored grains and seeds to control pests and prevent spoilage.

Based on application, the adiponitrile segment held the highest market share in 2022, contributing to more than two-fifths of the global hydrogen cyanide market revenue, and is projected to maintain its leadership status during the forecast period. This is due to adiponitrile being a key chemical intermediate used in the production of nylon 6,6, which finds application in various industries including textiles, automotive, and electrical appliances. One of the primary drivers for adiponitrile is the increase in demand for nylon 6,6. Nylon 6,6 is known for its high strength, durability, and resistance to heat and chemicals, making it suitable for a wide range of applications. However, the Sodium cyanide and potassium cyanide segment is projected to manifest the highest CAGR of 2.5% from 2023 to 2032. The growth is attributed to the fact that sodium and potassium cyanide is used for gold extraction in the mining industry. They are also utilized in the production of a variety of chemicals, including pharmaceuticals, plastics, dyes, and pesticides. These industries have witnessed significant growth, driven by factors such as population growth, industrialization, and technological advancements, thereby propelling the demand for sodium cyanide and potassium cyanide.

Based on region, North America held the highest market share in 2022, accounting for more than two-fifths of the global hydrogen cyanide market revenue and is expected to maintain its dominance during the forecast timeframe. In North America, the hydrogen cyanide market is driven by several key factors such as an increase in demand for chemical intermediates in various industries, including pharmaceuticals, plastics, and agriculture. In addition, the growing adoption of hydrogen cyanide in mining applications and the expanding chemical manufacturing sector contribute to the market growth in the region. On the other hand, the Asia-pacific region would showcase the fastest CAGR of 2.3% during the forecast period.

Leading Market Players: –

Air Liquide
Evonik Industries AG
INEOS
Sumitomo Chemical Co., Ltd.

Ascend Performance Materials
Cyanco International, LLC
Cornerstone Chemical
Asahi Kasei Corporation.
Mitsubishi Gas Chemical Company, Inc.

Kuraray Co., Ltd.

The report provides a detailed analysis of these key players in the global hydrogen cyanide market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Ethylene Vinyl Acetate Resins Market Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2028

According to the Ethylene Vinyl Acetate Resins Market report published by the Allied Market Research, the study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. Moreover, the study also doles out different logical tables and graphs to identify the complexities of the market.

The global ethylene vinyl acetate resin market was valued at $8.4 billion in 2020, and is projected to reach $13.7 billion by 2028, growing at a CAGR of 6.3% from 2021 to 2028.

A complete and wide-ranging evaluation of the aspects that drive and restrain the Market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.

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The report helps clients in comprehending their first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contains in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.

The Ethylene Vinyl Acetate Resins market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

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Key Market Players
CELANESE CORPORATION, DOW INC., LYONDELLBASELL INDUSTRIES HOLDING B.V., BRASKEM S.A., EXXON MOBIL CORPORATION, HANWHA CHEMICAL CORPORATION, FORMOSA PLASTICS CORPORATION, ARKEMA S.A., SIPCHEM, AL HABIB POLYMERS FZE.

The market report is analyzed across
Type
✤Vinyl acetate-modified polyethylene (low VA density)
✤Thermoplastic ethylene vinyl acetate (medium VA density)
✤Ethylene vinyl acetate rubber (high VA density)

Application
✤Film
✤Foam
✤Hot Melt Adhesives
✤Wire & Cable
✤Extrusion Casting
✤Solar Cell Encapsulation
✤Others

End User
✤Automotive
✤Packaging & Paper
✤Paints, Coatings, & Adhesives
✤Electronics & Electrical
✤Pharmaceutical
✤Footwear
✤Photovoltaic Panels
✤Others

Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Ethylene Vinyl Acetate Resins market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Ethylene Vinyl Acetate Resins market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis are also covered under the report. Last but not least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.

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Revolutionizing Productivity: Automatic Numbering Machines Market Trends, Innovation, and Growth Opportunities in 2023 to 2032

In the ever-evolving landscape of technology and industry, automation has become the cornerstone of progress. One such automation marvel is the Automatic Numbering Machines Market, poised to revolutionize productivity in the coming decade. Here, we’ll delve into the latest trends, innovations, and growth opportunities within this market from 2023 to 2032.

Understanding the Automatic Numbering Machines Market

Automatic numbering machines are precision tools designed to streamline tasks that involve sequential numbering. They find applications in a wide array of industries, including manufacturing, packaging, finance, and more. These machines are the unsung heroes behind the scenes, ensuring that products are correctly numbered, documents are organized, and processes are efficient.

The Road to Revolution: Market Trends

1. Digital Transformation: As we embark on this new decade, the Automatic Numbering Machines Market is witnessing a significant shift towards digital solutions. Advanced numbering machines now offer digital interfaces, making them more user-friendly and adaptable to various industries.

2. IoT Integration: The Internet of Things (IoT) is making inroads into industrial automation. Smart numbering machines, connected to IoT networks, enable real-time monitoring and data analytics. This trend enhances operational efficiency and predictive maintenance.

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3. Customization: Businesses increasingly demand tailor-made solutions. Manufacturers are responding by offering customizable numbering machines, catering to specific industry requirements, and offering a competitive edge.

4. Sustainability: Eco-conscious practices are gaining momentum. Manufacturers are focusing on eco-friendly materials and energy-efficient designs, aligning with global sustainability goals.

Innovation in Focus

1. Artificial Intelligence (AI): AI-powered numbering machines can automatically detect and correct errors, reducing waste and increasing accuracy.

2. Machine Learning: Machine learning algorithms enable these machines to adapt to changing patterns and optimize numbering sequences over time.

3. Robotics: Robotic numbering machines are becoming more agile and versatile, capable of handling complex tasks with precision.

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4. Blockchain Integration: Blockchain technology is being explored to enhance data security and traceability, crucial in industries like pharmaceuticals and finance.

Growth Opportunities on the Horizon

1. Manufacturing Industry: The manufacturing sector will continue to be a primary driver of demand for automatic numbering machines, particularly as it embraces Industry 4.0 principles.

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2. Packaging and Logistics: Automated numbering ensures efficient tracking and inventory management, vital in the fast-paced world of e-commerce and global supply chains.

3. Financial Services: Banks and financial institutions rely on accurate numbering for document management and compliance. The financial sector presents a growing market for these machines.

4. Government and Healthcare: Secure numbering is paramount in government agencies and healthcare institutions for record-keeping and security purposes.

The Automatic Numbering Machines Market is set to undergo a remarkable transformation from 2023 to 2032. With digitalization, IoT integration, customization, sustainability, and cutting-edge innovations, these machines are poised to revolutionize productivity across various industries. As businesses seek to streamline processes and improve efficiency, automatic numbering machines will play a pivotal role in shaping the future of automation.

Are you ready to embrace the revolution in productivity that automatic numbering machines offer? Stay tuned for the latest updates and developments in this exciting market segment over the next decade.

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Carbon Fiber Market Trends: Analyzing Industry Growth Evolution, and Share Updates by 2032

The global carbon fiber industry generated $5.5 billion in 2022 and is estimated to reach $16.0 billion by 2032, witnessing a CAGR of 11.4% from 2023 to 2032.

Carbon fibers possess a wide range of properties, including stiffness, tensile strength, strength-to-weight ratio, chemical resistance, thermal tolerance, and low expansion. These characteristics have made carbon fiber a highly resistance material in several industries, including aerospace, civil engineering, and military, as well as motorsports and other competitive sports. Moreover, carbon fiber is a great option because it’s lightweight and can help reduce emissions in transport and other industries. This has made it a popular choice for eco-friendly companies, which has led to an increase in carbon fiber production over the next few years.

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The global carbon fiber market is driven by factors such as an increase in the penetration of carbon fiber components in the automotive industry and government regulations for emission control. On the other hand, the long production cycle and unavailability of carbon fibers limit the growth of the market to some extent. Furthermore, the rise in the use of carbon fiber in the medical industry to witness significant opportunities in the future market growth.

COVID-19 Scenario:

The outbreak of the COVID-19 pandemic had a negative impact on the global carbon fiber market, due to volatility in prices of raw materials during the pandemic, which lowered the carbon fiber demand.
However, the rise in demand from the building and construction, aerospace and defense, industrial, automotive, and commercial sectors has increased focus on an escalating economic recovery across the globe and has supported the carbon fiber market to grow rapidly.

Based on type, the continuous carbon fiber segment held the highest market share in 2022, accounting for more than four-fifths of the global carbon fiber market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment would also display the fastest CAGR of 11.5% during the forecast period. Structures reinforced with continuous carbon fiber composites are anticipated to withstand corrosive conditions for extended periods, reducing maintenance and replacement costs. This factor is projected to enhance the demand for the continuous carbon fiber segment.

Based on raw material, the PAN-based carbon fiber segment held the highest market share in 2022, contributing to more than 90% of the global carbon fiber market revenue, and is expected to maintain its leadership status throughout the forecast period. The same segment would also showcase the fastest CAGR of 11.4% during the forecast period. PAN-based carbon fiber materials are preferred for use in the aerospace industry owing to their high strength, low heat expansion, moisture absorption, lightweight, specific strength, ease of use, and thermal conductivity. There is no significant growth in technology used to manufacture PAN precursors and carbon fibers, and thus there is high scope for improvement in process and product areas. This factor is expected to enhance the overall market demand for PAN-based carbon fiber.

Based on form, the composite segment accounted for the largest share in 2022, holding more than 90% of the global carbon fiber market revenue, and is projected to maintain its lead position during the forecast period. The same segment would also portray the fastest CAGR of 11.4% from 2023 to 2032. Composite carbon fibers provide high tensile strength, flexural strength, and impact resistance when used as a reinforcement in composites. They are typically oriented and aligned in specific directions within the matrix to optimize the mechanical properties of the composite material. This factor is projected to boost the sales of composite-based carbon fiber during the forecast period.

Based on region, Europe held the largest market share in 2022, accounting for more than one-third of the global carbon fiber market revenue and is anticipated to maintain its dominance during the forecast period. This is due to Germany is known for its advanced manufacturing capabilities and technological expertise. The focus of the country on research and development, along with its strong engineering and manufacturing sectors, supports the growth of the carbon fiber market. Advanced manufacturing technologies such as automated fiber placement (AFP) and resin infusion contribute to efficient and cost-effective carbon fiber production in the Europe region. Furthermore, the Asia-Pacific region would cite the fastest CAGR of 11.9% during the forecast period.

Leading Market Players: –

Solvay

TEIJIN LIMITED.
TORAY INDUSTRIES, INC.
ZOLTEK
Mitsubishi Chemical Group Corporation
DowAksa

Nippon Steel Corporation
Formosa Europe
SGL Carbon

The report provides a detailed analysis of these key players in the global carbon fiber market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Biomethane Market Size 2023 | Innovative Research Methodologies with Emerging Trends and Opportunities till 2032

The global biomethane industry generated $3.1 billion in 2022 and is estimated to reach $5.5 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.

Biomethane, also referred to as renewable natural gas (RNG), is produced either by gasification of solid biomass or by removing CO2 and other contaminants present in the biogas. Biomethane is widely used for generating power, fueling vehicle, and heating purposes.

The growth of the global biomethane market is driven by the environmental benefits, energy security & successful waste management, versatility of applications and policies in support, and financial incentives & R&D. However, production involves complex technological processes, and there are ongoing challenges in optimizing these processes for efficiency and cost-effectiveness, which is hindering the growth of the market. Moreover, biomethane provides an opportunity to diversify the energy mix. Communities and countries are projected to reduce their dependence on imported fossil fuels by utilizing locally available organic waste materials. This enhances energy security and reduces exposure to geopolitical risks associated with fossil fuel imports.

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Depending on the feedstock, the energy crops segment held the highest market share in 2022, accounting for more than one-third of the global biomethane market. It is also expected to grow at a significant CAGR of 6.0% during the projection years. This is attributed to their high energy content, which allows for efficient conversion into biomethane. Moreover, these crops are typically fast-growing and have high cellulose or starch content, which are expected to be easily digested by microorganisms during anaerobic digestion.

Depending on the production method, the anaerobic digestion segment held the highest market share in 2022, accounting for more than three-fifths of the global biomethane market. It is also expected to grow at a significant CAGR of 5.8% during the projection years. Biomethane produced through anaerobic digestion is considered a renewable energy source. It is derived from organic materials that would otherwise decompose and release methane, a potent greenhouse gas, into the atmosphere. In addition, ongoing advancements in anaerobic digestion technologies, process optimization, and supportive policies help to overcome these challenges and promote the broader adoption of biomethane as a sustainable energy option.

Depending on the application, the automotive segment held the highest market share in 2022, accounting for around two-thirds of the global biomethane market. It is expected to grow at a significant CAGR of 5.9% during the projection years. It is considered a low-carbon fuel because it is derived from organic waste materials rather than fossil fuel reserves. In addition, biomethane reduces emissions of air pollutants, such as particulate matter, nitrogen oxides (NOx), and sulfur oxides (SOx), compared to gasoline and diesel fuels. Using biomethane as a transportation fuel helps improve air quality and reduce the environmental impact of vehicle emissions.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global biomethane market revenue, and is likely to dominate the market during the forecast period. The region is also expected to witness the fastest CAGR of 6.0% from 2023 to 2032. Biomethane remains a significant component of the energy mix in Asia-Pacific. China has been actively promoting the production of biomethane as part of its efforts to increase the use of renewable energy sources. India has been investing in biomethane production from various organic waste sources, including agricultural residues, animal manure, and food waste.

Leading Market Players: –

EnviTec Biogas AG
VERBIO Vereinigte BioEnergie AG
Ecofinity
Future Biogas Ltd.

Gazasia Ltd.
Orbital Gas Systems
PlanET Biogas Global GmbH
CNG Services Ltd.
ETW Energietechnik GmbH

AB HOLDING SpA.

The report provides a detailed analysis of these key players in the global biomethane market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Roof Coatings Market witness Astonishing Growth,Observe latest Development and Precise Outlook 2030|Akzo Nobel N.V., BASF SE, Nippon Paint

According to the Roof Coatings Market report published by the Allied Market Research, the study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. Moreover, the study also doles out different logical tables and graphs to identify the complexities of the market.

The roof coatings market size was valued at $5.7 billion in 2020, and is projected to reach $8.3 billion by 2030, growing at a CAGR of 3.8% from 2021 to 2030.

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The Roof Coatings market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

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Key Market Players
RPM International Inc, Dow, Akzo Nobel N.V., BASF SE, Nippon Paint, Valspar, PPG Industries, The Sherwin-Williams Company, Hempel A/S and Graco Inc.

The market report is analyzed across
Substrate
✤Asphalt
✤Metal
✤Bitumen
✤Plastic
✤Others

Type
✤Elastomeric
✤Bituminous
✤Acrylic
✤Silicone
✤Epoxy
✤Others

Technology
✤Water-based
✤Solvent-based

Roof Type
✤Flat Roof
✤Slope Roof

End-use Sector
✤Residential
✤Non-Residential

Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Roof Coatings market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Roof Coatings market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis are also covered under the report. Last but not least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.

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Packaging Resins Market Size and Market Drivers Analysis | Emerging Trends, New Developments and Forecast till 2032

The global packaging resins market was valued at $288.9 billion in 2022 and is projected to reach $587.3 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.

Packaging resin finds an array of applications across several industries, owing to its versatile properties. Polymer fabric like Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC) and Polystyrene are used as packaging resin as they can be molded, extruded, or converted into a number of shapes and varieties to create packaging products such as bottles, containers, films etc.

The global packaging resins market is experiencing growth due to several factors such as an increase in demand for packaged goods across various sectors where packaging resins ensure the safety, quality, and preservation of products. However, fluctuating raw material prices of packaging resin hinder the market growth to some extent. Moreover, growth in eco-friendly packaging materials offers remunerative opportunities for the expansion of the packaging resins market.

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Based on type, the High-Density Polyethylene (HDPE) segment held the highest market share in 2022, accounting for almost one-third of the global packaging resins market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to HDPE being melted and then formed into various packaging products using processes like injection molding, blow molding, or extrusion. However, the polystyrene segment is projected to manifest the highest CAGR of 8.2% from 2023 to 2032, as polystyrene offers good impact resistance, low thermal conductivity, and is cost-effective, which makes them a popular choice for many industries.

Based on the application, the healthcare segment held the highest market share in 2022, It is projected to manifest the highest CAGR of 8.0% from 2023 to 2032, and accounting for more than two fifth of the global packaging resins market revenue and is estimated to dominate during the forecast period. This can be attributed to the fact that packaging resins is used to store and transport medical devices, pharmaceuticals, and other healthcare products. However, the food and beverage segment dominated the market accounting almost one-third of the market share in 2022.

Based on region, Asia-Pacific collectively held the highest market share and fastest growing region in terms of revenue in the market, accounting for around two-fifths of the global packaging resins market revenue with a major CAGR of 7.9% and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The segment is driven by factors such as packaging resins in the Asia-Pacific region is driven by factors such as economic growth, changing consumer lifestyles, and increased e-commerce activities.

Leading Market Players: –

SABIC

BASF SE
BOREALIS AG.
BRASKEM
CHINA PETROCHEMICAL CORPORATION
EXXON MOBIL CORPORATION

INEOS
LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
RELIANCE INDUSTRIES LIMITED
MITSUBISHI CHEMICAL CORPORATION

The report provides a detailed analysis of these key players in the global packaging resins market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Banking CRM Software Market Size Was $39.2 Billion In 2031 | Growing At A CAGR Of 15.7% From 2022 To 2031

The banking crm software market was valued at $9.5 billion in 2021, and is estimated to reach $39.2 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.

Banking Customer Relationship Management (CRM) software is a specialized software solution designed to help banks and financial institutions manage their interactions with customers and prospects. It provides tools and features to track, analyze, and improve customer relationships, streamline processes, and enhance customer service.

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CRM software assists banks in managing their clientele and considering their preferences effectively to offer standout products in the industry. With the help of this software, banks can create a customer-centered, need-based business model and monitor financial information about their clients accordingly. Moreover, CRM in banking also saves banks time by cutting down on tedious administrative activities, optimizing client interactions, and creating several banking units to handle consumer demand. In addition, CRM for investment banking is a major trend among the investors. Further, growth in need for customer management, owing to changing preferences in terms of product offerings is the major factor that boosts the market growth. In addition, to sustain in stronger competition, banks are implementing technologies in their business operations to improve customer services, this as a result fuels growth of the banking CRMs software market. Furthermore, rise in banking technical adoptions in developing countries and evolving technologies to enhance consumer services are some factors expected to create lucrative opportunities for the banking CRMs software market in the upcoming years. Moreover, CRM systems with extensive toolkits, such as those with project management, sales, and marketing capabilities, have the power to automate all aspects of banking and finance. These platforms may gather information from different corporate departments and add the appropriate details to each client profile in the CRM database. Additionally, banking CRM software helps reconcile financial data from many sources and allows real-time monitoring of the data utilised by various departments.

Furthermore, the global banking CRM software market is in its developing phase, and exhibits high growth potential, due to rise in implementation of advanced technologies such as artificial intelligence (AI) and machine learning (ML). In addition, increase in collaborations of enterprises and fintech are expected to promote the banking CRM software market growth in future. For instance, in August 2022, Monument Bank, UK’s first neo bank, has partnered with Persistent Systems and, a global digital engineering provider to build a bespoke, cloud-native digital banking platform for lending and deposit services to support Monument’s ongoing operations. Monument’s target clients are usually pressed for time and often feel underserved and undervalued by other banking providers. Monument’s mission was to help its clients prosper and optimize their time by offering smart, efficient and flexible CRM solutions.

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By application, the customer service segment acquired a major banking CRM software market share in 2021. This is attributed to the fact that the banks can fulfill their clients and keep their business owing to the automation, streamlining, and consolidation that this software can provide. Further, the growing proliferation of online banking is fueling the growth of banking CRM software market for customer service. Furthermore, banks often do not benefit from the advantages of brand loyalty that other companies do. To remain competitive, banks have to deliver accurate financial services as well as top-notch client experience. This entails being receptive to consumer demands, aware of their background, and capable of foreseeing the services they could want in the future.

Region wise, North America dominated the market in banking CRM software market size in 2021. The rising demand for banking customer relationship management (CRM) software to enhance customer experience is one of the prime factors affecting the growth of the market in the region. Further, the presence of the highest number of technology innovators and the increasing adoption of CRM software by banks and other financial institutions to enhance customer experience is fueling the growth of banking CRM market in North America.

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The demand for banking CRM software has increased considerably during the COVID-19 pandemic. This is attributed to increased demand for providing better customer services and gather information precisely owing to the trend of remote working. Moreover, banking CRM software market is expected to witness growth with the increased adoption among various small & medium sized enterprises. These factors significantly contribute towards banking CRM software market trends. Thus, these factors promoted the growth of the banking CRM software industry during the pandemic situation.

KEY FINDINGS OF THE STUDY

By offering, the solution segment accounted for the highest banking CRM software market share, in terms of revenue in 2021.
On the basis of deployment mode, the cloud segment is expected to exhibit the fastest growth rate during the forecast period in banking CRM software market.
Region wise, North America generated the highest revenue of banking CRM software market size in 2021.

The key players operating in the banking CRM software market analysis include Salesforce, Inc., SugarCRM Inc., Microsoft, Oracle, LeadSquared, Pegasystems Inc., Claritysoft, Zoho Corporation Pvt. Ltd., HubSpot, Inc., and KAPTURE. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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Encapsulated Resistors Market: Emerging Trends and Growth Opportunities

The electronics industry is constantly evolving, and one crucial component that plays a significant role in electronic circuits is resistors. Among the various types of resistors available, encapsulated resistors are gaining prominence due to their durability, performance, and versatility. In this blog post, we will explore the emerging trends and growth opportunities in the Encapsulated Resistors Market.

Understanding Encapsulated Resistors

Encapsulated resistors are electronic components that provide precise resistance in electrical circuits. These resistors are encapsulated in a protective material, typically epoxy, which shields them from environmental factors such as moisture, dust, and temperature fluctuations. This encapsulation not only enhances their performance but also extends their lifespan.

Emerging Trends in the Encapsulated Resistors Market

1. Miniaturization and High-Density Applications: With the demand for smaller, more compact electronic devices, encapsulated resistors are being designed to occupy less space while maintaining their resistance values. This trend caters to industries like mobile electronics, wearables, and IoT devices.

2. Precision and Accuracy: As electronics become increasingly sophisticated, there is a growing need for resistors that offer exceptional precision and accuracy. Encapsulated resistors are now manufactured with tighter tolerance levels, ensuring precise resistance values for critical applications.

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3. High-Temperature Resistance: Many industries, such as automotive and aerospace, require electronic components that can withstand extreme temperatures. Encapsulated resistors are being developed to operate reliably in high-temperature environments, making them essential in demanding applications.

4. Customization: Electronics manufacturers often require resistors tailored to their specific needs. The trend towards customization allows companies to order encapsulated resistors with precise resistance values, power ratings, and encapsulation materials, meeting the unique requirements of their projects.

5. Environmental Considerations: With an increasing focus on sustainability, some encapsulated resistor manufacturers are exploring eco-friendly encapsulation materials. This trend aligns with the global push for greener electronic products.

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Growth Opportunities in the Encapsulated Resistors Market

1. Expansion of Automotive Electronics: The automotive industry is rapidly integrating advanced electronics for safety, infotainment, and autonomous driving systems. Encapsulated resistors find extensive use in these applications, presenting significant growth opportunities.

2. Telecommunications and 5G: As the world moves toward 5G networks, the demand for high-frequency and high-power electronic components, including encapsulated resistors, is set to surge.

3. Renewable Energy: Encapsulated resistors are crucial components in renewable energy systems like solar inverters and wind turbines. With the growing adoption of clean energy solutions, this sector offers promising prospects.

4. Medical Electronics: The healthcare sector relies heavily on precise and reliable electronics. Encapsulated resistors play a role in various medical devices, from diagnostic equipment to patient monitoring systems.

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5. IoT and Wearables: The proliferation of IoT devices and wearables necessitates small, durable components like encapsulated resistors. This market segment is expected to expand significantly in the coming years.

The Encapsulated Resistors Market is evolving to meet the demands of a rapidly advancing electronics industry. Emerging trends such as miniaturization, precision, and customization, coupled with growth opportunities in automotive electronics, telecommunications, renewable energy, medical devices, and IoT, make this market an exciting space to watch. As technology continues to advance, encapsulated resistors will remain a critical component in driving innovation and performance in electronic systems.

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