Maleic Anhydride Market is anticipated to reach USD 4.11 billion by 2024

The global maleic anhydride market is anticipated to reach USD 4.11 billion by 2024, according to a new report by Grand View Research, Inc. Rising UPR demand in various end-use industries including construction and automotive is expected to drive growth over the next eight years.

Growing maleic anhydride demand for additives manufacturing for fuel oils and lubricants is expected to drive market growth in near future. N-butane is the preferred raw material in MAN manufacturing owing to low cost, high productivity, less complex production process, and environment-friendly nature.

The majority of product produced globally is utilized for the production of UPR. The application segment accounted for 50.5% of the total demand in 2015. Growing construction, automotive and marine industry, especially in BRICS economies is expected to drive demand over the next eight years.

BDO is anticipated to witness the fastest growth over the next eight years owing to wide acceptance of the product in manufacturing synthetic chemicals such as polyurethane and tetrahydrofuran. The segment is anticipated to reach a net revenue of USD 435.9 million in China market by 2024, growing at an estimated CAGR of 8.7% from 2016 to 2024.

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Further key findings from the study suggest:

  • The global maleic anhydride market demand was 1,845.0 kilo tons in 2015 and is expected to reach 2,987.2 kilo tons by 2024, growing at a CAGR of 5.5% from 2016 to 2024
  • Asia Pacific was the leading regional market with demand share estimated at 57.6% in 2015. In addition, the region is expected to grow at fastest rates over the next eight years owing to increasing UPR consumption in construction and automotive industries particularly in China, India, and Indonesia.
  • North America maleic anhydride demand accounted for 14.7% of the global volume in 2015.The U.S. MAN market is estimated to grow at a CAGR of 4.7% to reach a total demand of 327.4 kilo tons by 2024.
  • Central & South America MAN demand in lubricant and oil additives is anticipated to reach a net worth of USD 22.6 million by 2024. Significant developments in lubricant and fuel oil industries coupled with technological advancements are expected to steer demand in the sector.
  • Major players operating in the industry include Huntsman, DSM NV, Lanxess AG, Yabang Jiangsu, Nippon Shokubai Co Ltd, Polynt SpA, Ashland Chemical Co, and Flint Hills Resources.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Grand View Research, Inc
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Bioinformatics Services Market is anticipated to reach USD 4.1 billion by 2024

Global bioinformatics services market is anticipated to reach USD 4.1 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of I.T. solutions for different studies such as cell signaling, pathway metabolism, gene-receptor interactions, and target differentiation are expected to support growth in this market over the forecast period.

Owing to the benefits associated with the use of informatic solutions for laboratory protocol generation and data management as well as analysis, these solutions are projected to witness substantial demand in the coming years.

Moreover, collaborative activities undertaken by the information technology companies with pharmaceutical companies and clinical research organizations in order to develop and update key technologies linked to cloud computing, like online data storage and visualization of computer resources are expected to enhance market potential through to 2024.

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Further key findings from the study suggest:

  • NGS is estimated to be the dominant segment with respect to the type of service served in 2015 owing to the fact that sequence-based approach of analysis can be cataloged with the structure-based approach as complementary to genomic and proteomic approaches. Advancement in the sequencing technologies such as NGS and scripting tools (Perl & Python) for sequence manipulation coupled with the reduction in prices of the sequencing platforms and market movement towards the USD 1,000 genome resulted in a larger revenue share of this segment in the discovery informatics.
  • Market revenue from of chemoinformatics is second only to NGS and its strong market position can be accounted for by presence of several entities operating in this segment and their involvement in the provision of lead identification, validation, assay development, lead generation, optimization, and clinical trial based informatic solutions.
  • Depending on the application, transcriptomics is anticipated to register the fastest growth of over 15% owing to rise in the number of projects carried out in translational research and application of RNA transcripts for studying etiology of chronic as well as acute diseases.
  • Academic sector, in terms of end-use for these services, is expected to witness the fastest growth through to 2024 as a result of rise in the adoption rate of these technologies in genomic, proteomic and metabolomics research programs carried out by universities research institutes. If not all, most of these programs are either backed through government funding or private corporation backing and forms a considerable part of the high R&D investment that the bioinformatics market attracts in the current scenario.
  • North America dominated the industry in 2015, accounting for a little 35% of total revenue. Presence of key participants operating in the region which are involved in development of novel algorithms and software in order to improve drug attrition rates which consequently increases adoption rate of computational algorithms is attributive for the largest share of North America in sector revenue. Demand for informatic services in Europe is also increasing owing to the presence of universities in Germany and UK that are involved in development of I.T. solutions for pharmaceutical research.
  • Asia Pacific is estimated to witness the fastest growth over the forecast period owing to the fact that government and regulatory authorities have implemented a framework to encourage R&D collaborations and framework extension. Active expansion strategies undertaken by a number of the major market entities operating in the American market in order to strengthen their position in Asia Pacific region is a factor anticipated to consequently drive growth.
  • Key players operating in this industry include Agilent technologies, Siegen Inc., GVK Biosciences, Accelerys Inc, Illumina Inc., DNAnexus, Life Technologies Corporation, Geneva Bioinformatic, Celera Corporation, IBM Life sciences, and Affymetrix.
  • These entities are adopting strategies such as collaborations with pharmaceutical and biotechnology companies in order to enhance industrial presence by providing different data management and analytical services for the purpose of drug design and therapeutic monitoring.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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North America Polyurethane Market is expected to reach USD 19.18 billion by 2024

North America polyurethane (PU) market is expected to reach USD 19.18 billion by 2024, according to a new report by Grand View Research, Inc. Rising concerns regarding energy efficiency in the region is a key driving factor for industry growth. Growth dynamics of the industry are expected to be heavily influenced by trends in major end-use industries that include automotive, packaging, and construction coupled with the shift towards lightweight products, especially in miniaturized electronic gadgets. Technological advancements along with a shift in preference towards aesthetic, yet environmentally sustainable products are likely to positively influence the market.

Rigid foams were the leading product segment and accounted for over 33% of the overall volume in 2015. The shift towards sustainable construction practices and consumer awareness regarding thermal insulation as a means of energy conservation are expected to be major driving factors for the product’s growth.

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Further key findings from the study suggest:

  • North America polyurethane (PU)market demand was 3.61 million tons in 2015 and is expected to reach 5.21 million tons by 2024, growing at a CAGR of 4.2% from 2016 to 2024
  • Cast polyurethanes were the highest consumed elastomers with their overall volume estimated at over 130 kilo tons in 2015. Critical applications of these elastomers include prototyping and tooling in the automotive industry.
  • Electronics and automotive industries present majority of the growth opportunities for the U.S. market with both the segments expected to collectively account for over 27% of the volume by 2024. Recovery of automotive production landscape as a result of export demand is a major factor for growth.
  • U.S. was the leading consumer with market revenue estimated at over USD 9,900 million in 2015. Federal government initiatives to improve the insulation of low-income households to reduce energy demand is a key factor driving rigid foams consumption in the U.S.
  • Mexico is a high growth potential market in North America and is expected to register a volumetric growth of over 5.5% from 2016 to 2024. The industry in Mexico is characterized by high requirement for foams & adhesives in construction, automotive, packaging and furniture applications.
  • Key players operating in North America PU market include BASF, The Dow Chemical Company, Bayer Material Science, Huntsman Corporation, Tosoh America, Inc., Mitsui Chemicals America, Inc. and Alchemie Ltd.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

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Orthopedic Devices Market is expected to reach USD 43.1 billion by 2024

The global orthopedic devices market is expected to reach USD 43.1 billion by 2024, according to a new report published by Grand View Research, Inc. Major drivers of the market include the rising demand for orthopedic surgeries owing to the growth in road accidents and the prevalence of orthopedic diseases.

The introduction of new products made of materials, such as various types of ceramics and polymers, has led to a rise in the success rates of surgeries. In addition, these products are available at affordable costs and customizable sizes and shapes. As a result, the adoption of these advanced products is swiftly increasing. In addition, the rising geriatric population prone to orthopedic diseases, such as osteoporosis and arthritis, is augmenting the growth of the market.

Hip and knee applications together accounted for the largest market share in 2015. A relatively high rate of hip and knee replacement surgeries coupled with the constant innovations in the treatment of hip and knee injuries is contributing towards the growth of these application segments.

Stringent regulatory approval procedures are the prime factors restraining the growth of the market. In addition, a high device cost and expensive surgical costs are some other factors impeding the market growth.

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Further key findings from the study suggest:

  • The knee orthopedic devices segment captured the largest share of the market in 2015. This was attributed to the factors such as a high rate of knee surgeries including common knee injuries to total knee replacements.
  • The hip orthopedic devices segment was the second largest market in 2015. The large portfolio for hip injury management is expected to result in a significant share in the global market.
  • North America captured the largest market share of 51.4% in 2015 and is expected to maintain its dominance over the forecast period. The presence of a large number of major market players and a high adoption rate of advanced technologies are the factors driving the growth of the market in the region.
  • The Asia Pacific market is expected to witness a lucrative CAGR of 8.6% during the forecast period. The presence of a large untapped market and the availability of supportive government regulations are expected to attract the attention of the global players.
  • Some major players in the orthopedic devices market include NuVasive, Inc., Medtronic PLC, Zimmer-Biomet Holdings, DePuySynthes, Stryker, Aesculap Implant Systems, LLC, Donjoy, Inc., and Conmed Corporation

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

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Grand View Research, Inc
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Zeolite Molecular Sieve Market is expected to reach USD 4.27 billion by 2022

Global Zeolite Molecular Sieve market is expected to reach USD 4.27 billion by 2022, according to a new study by Grand View Research, Inc. Increasing demand for energy coupled with stress on green technologies has resulted in growing demand for zeolite molecular sieves as catalysts for petroleum refining. Higher efficiency and yield, and non-toxicity property of zeolites has resulted in the extensive use of the mineral for catalytic operations. In addition, growing demand for adsorbents owing to rising awareness regarding presence of hazardous organic materials in wastewater is expected to augment zeolite molecular sieve market demand over the forecast period.

Detergents accounted for over 70% of the global zeolite molecular sieve market volume share in 2014. Zeolite molecular sieves are used in detergents owing to its ability to produce demineralized water through calcium ion exchange which helps in the removal of any kind of dirt. This has resulted in a tremendous demand for zeolite molecular sieves from detergent segment. Zeolite molecular sieves being increasingly used in the petroleum industry as catalysts which is anticipated to drive market growth.

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Further key findings from the study suggest:

  • Global zeolite molecular sieve demand in catalysts was 345.7 kilo tons in 2014 and is expected to grow at a CAGR 2.3% from 2015 to 2022. Increasing industrial use of zeolite molecular sieve as catalysts in the petroleum industry has resulted in driving market growth over the past few years and the trend is anticipated to continue over the forecast period. Zeolite molecular sieves are used for cracking of petroleum as it causes certain structural changes during the chemical reaction which helps in manufacturing petrochemicals.
  • Asia Pacific is expected to be a lucrative market, which accounted for 32.0% of global zeolite molecular sieve market volume in 2014. Growing demand for refrigerants and detergents, and an increasing utilization of zeolites in advanced processing methods in nuclear industry for the removal of nuclear waste is expected to have a positive impact in the region over the forecast period.
  • In 2013, global natural zeolite mining output exceeded 2,700 kilo tons, where China was the largest producer accounting for over 70% of the output. China was the largest consumer for natural zeolites in 2014, owing to the presence of a well-established manufacturing base for detergents, petroleum refining, gas separation and water purification.
  • Kay players present in the global zeolite molecular sieve market include Tosoh Corporation, Arkema, BASF, UOP, Grace Catalysts Technologies, Zeox Corporation, Chemiewerk Bad Köstritz and Union Showa K K. the global market is characterized by integration across raw materials and manufacturing stages of the value chain.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

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Grand View Research, Inc
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Email: sales@grandviewresearch.com
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Powered Air Purifying Respirator Market is expected to reach USD 2.38 billion by 2024

The global powered air purifying respirator market is expected to reach USD 2.38 billion by 2024, according to a new report by Grand View Research, Inc. PAPR have witnessed growing significance in the past few years owing to increasing demand in fire services, petrochemical, pharmaceutical, and chemical industries.

Growing concern towards lost productivity and insurance costs associated with workplace-related injuries has urged the companies in these end-use sectors to prioritize employee safety and implement stringent regulations for using PAPR in the operating environment.

Full face mask PAPR dominated the global demand in 2015 and is expected to emerge as the fastest growing product category over the forecast period. The segment is estimated to grow at a CAGR of 7.0% from 2016 to 2024. Rising demand for highly effective respiratory protective equipment (RPE) in toxic and heavy industrial activities such as metal-forming, chemical, oil & gas, and safety applications such as fire protection and law enforcement is expected to stimulate product demand over the next eight years.

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Further key findings from the study suggest:

  • The industrial sector emerged as the leading PAPR end-use segment and accounted for 20.5% of total revenue share in 2015. The segment is estimated to reach a net worth exceeding USD 480 million by 2024.
  • The healthcare industry is anticipated to emerge as the fastest growing end-use segment by 2024. The segment is anticipated to grow at an estimated CAGR of 7.4% from 2016 to 2024. Growing concern towards biological & radiological hazards coupled with exposure to drug and waste gas is anticipated to play a major role in steering product demand in the segment.
  • Europe emerged as the dominant PAPR consumer and is expected to reach a market worth USD 757.5 million by 2024. PAPR demand in Russia is expected to grow at an estimated CAGR of 6.3% from 2015 to 2024.
  • Asia Pacific powered air purifying respirator market is anticipated witness the fastest growth over the next eight years. The regional market is expected to grow at a CAGR of 7.7% over the forecast period.
  • The global industry is marked by the presence of highly competitive participants who are involved in continuous product differentiation for gaining a competitive edge over other players. Companies such as 3M, Bullard, and Optrel have invested in their product portfolio for developing PAPR specifically designed for welding applications.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Hand Dryers Market is anticipated to reach a valuation of USD 1.59 billion by 2024

The global hand dryers market is anticipated to reach a valuation of USD 1.59 billion by 2024, according to a new study by Grand View Research, Inc. In terms of volume (shipments), the market is expected to exhibit a CAGR exceeding 14.0% during the forecast period. The increasing government initiatives to spread awareness about hygiene and cleanliness are expected to drive demand over the next eight years. The rapid growth in the hospitality sector with a surge in the number of restaurants, pubs, and hotels is anticipated to fuel demand. The growth of smart cities and infrastructure development is further expected to boost the industry growth over the forecast period.

Technological advancement, quality, price, and energy efficiency affect the buying decision of end-users. The declining cost of hand dryers, paired with an additional benefit of reducing the operational cost, is expected to propel the product demand over the forecast period; particularly in the commercial sector. The growing awareness of the use of eco-friendly appliances and energy efficient products is also anticipated to favor the industry growth over the period of 2016 to 2024.

The related noise pollution and high initial cost associated with the high-speed automatic hand dryers are expected to hinder the industry growth significantly over the coming years. The rising health concerns on account of spreading germs and bacteria with the use of hand dryers may adversely impact the hand dryers’ demand.

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Further key findings from the study suggest:

  • On the basis of product, hot air products are more popular owing to their low cost as compared to other variants. Jet air accounted for more than 60% of the overall revenue share and is expected to grow at a CAGR of more than 10% in terms of volume over the forecast period. This can be primarily attributed to the operational and energy efficiency benefits offered by these devices. However, the high installation cost associated with the installation of jet air products may hinder the segment growth over the next few years.
  • The operation segment comprises manual on – automatic off and fully automatic. The fully automatic segment accounted for more than 70% of the overall volume share in 2015, which is expected to increase over the next eight years due to the increasing popularity of fully automatic hand dryers worldwide. These devices offer better convenience to consumers as there is no need for any human touch to operate, thereby reducing human efforts.
  • Hotels and restaurants end-use industry segment is expected to exhibit a growth of more than 12.0% over the period of 2016 to 2024. This can be attributed to the surge in the number of hotels, pubs, and restaurants, particularly in the emerging economies on account of the increasing customer purchasing power paired with the growing hygiene concerns among users. The hospital and office building segment is anticipated to grow at a CAGR exceeding 11.0% over the forecast period.
  • Asia-Pacific hand dryers market is estimated to grow at a CAGR of more than 12.0% over the next eight years, owing to the rising infrastructure development along with the increasing consumer purchasing power in the region. Europe and North America are anticipated to exhibit growth of over 11.0% over the forecast period. This can be primarily attributed to the rising awareness pertaining to the growing hygiene concerns among the customers.
  • The industry is technology driven and continuously evolving. Prominent industry players emphasize on R&D investments to increase the degree of product differentiation and gain a competitive advantage. The notable industry participants include American Dryer Inc., World Dryer Corporation, Electrostar, Dyson Ltd., Euronics Industries, Excel Dryer, Mitsubishi Electric Corporation, and Panasonic Corporation. In April 2015, World Dryers Corporation launched a new high-speed device, VERDEdri, which runs on 950 watts of power.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

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Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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Compressor Oil Market is expected to reach USD 97.15 billion by 2024

The global compressor oil market is expected to reach USD 97.15 billion by 2024, according to a new report by Grand View Research, Inc. Increasing industrialization in Asia Pacific and the Middle East is expected to remain a key driving factor for global compressor oil market over the forecast period.

Various attributes of compressor oil such as cooling, sealing and lubricating the internal components which ensure continuous operation and helps in reducing downtime and repair is also expected to drive its demand. Moreover, these lubricants maintain the equipment temperature and therefore keep them cool.

The equipment heating results in higher power consumption and wear & tear of the machine. Cost optimization practices adopted by various manufacturing companies are also expected to drive demand for compressor oil. It is observed that organizations have been implementing continuous improvement projects to reduce power consumption & maintain continuous operational flow undertake good lubrication practices.

Positive displacement based products are widely used in industries owing to their high performance and low maintenance cost. Therefore, the segment accounted for the majority of compressor oil consumed globally. Demand for positive displacement type is expected to develop at an approximate CAGR of 5.0% from 2016 to 2024.

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Further key findings from the study suggest:

  • Global compressor oil market demand was 6.80 million tons in 2015 and is expected to reach 10.44 million tons by 2024, growing at a CAGR of 4.9% from 2016 to 2024
  • Synthetic was the leading base oil used in compressor oil and accounted for 43.2% of global volume in 2015. High performance associated with synthetic oils are expected to drive their demand over the forecast period.
  • Increasing global awareness with respect to environmental issues is anticipated to drive the bio-based oil demand. The segment is anticipated to grow at an estimated CAGR of 5.1% from 2016 to 2024.
  • Manufacturing and automotive sector together accounted for over half of the global demand in 2015. Energy industry is expected to capture around one-fifth of revenue share in 2024 with an approximate growth rate of 6% from 2016 to 2024.
  • Asia Pacific is expected to observe the highest regional growth at an approximate CAGR of 5.6% owing to the rapid industrialization in emerging economies including China, India, and South Korea.
  • Key players operating in the global industry are ExxonMobil, Royal Dutch Shell, Total S.A, Lukoil, British Petroleum, Chevron Corporation, BASF, The Dow Chemical, Sasol Limited, Sinopec Limited, Croda International and Fuchs Petrolub.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

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Grand View Research, Inc
Phone: 1-415-349-0058
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Cosmetic Preservative Market is expected to reach USD 458.8 million by 2024

The global Cosmetic Preservative Market is expected to reach USD 458.8 million by 2024, according to a new report by Grand View Research, Inc. The increasing demand for natural preservatives such as thyme, clove, cinnamon and tea tree coupled with growing awareness for personal hygiene are some of the major factors that augment the growth of the Cosmetic Preservative Market.

The multiplying demand for sunscreens, lotions, and anti-ageing creams in Asia Pacific is also anticipated to positively impact the demand growth over the forecast period. Growing demand for herbal & natural ingredients in cosmetics is expected to drive the demand for organic preservatives.

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Further key findings from the study suggest:

  • The phenol derivatives emerged as the leading product segment and accounted for 35.7% of total revenue in 2015.Growing demand for phenoxyethanol used in creams and lotions is spur market growth over the forecast period. The segment is also expected to witness the highest growth of 6.4% from 2016 to 2024.
  • Skin & sun care emerged as the leading application segment and accounted for 39.2% of global revenue in 2015. Growing awareness regarding the harmful effects of ultra-violet rays on the skin is expected to spur the Cosmetic Preservative Market growth.
  • Cosmetic preservatives demand in toiletries is also expected to witness significant growth over the forecast period. Rising standard of living particularly in Asia Pacific has prompted the demand for toiletries in the recent past which is expected to propel the demand for cosmetic preservatives in this segment.
  • Asia Pacific emerged as the leading regional market and accounted for 35.0% of global revenue in 2015. Asia Pacific is expected to witness the highest growth on account of the growing production and demand of cosmetic products.
  • New product formulations and demand for herbal & organic ingredients in cosmetics is expected to drive the regional market over the forecast period. Rising economic standards and growing awareness about personal grooming and hygiene are also anticipated to boost the cosmetics market growth which will, in turn, have a positive impact on the global Cosmetic Preservative Market.
  • Some leading companies operating in the global cosmetic preservatives market include Lonza Group, The Dow Chemical Company, Ashland Inc., Symrise AG, BASF SE, Clariant AG, Akema Fine Chemicals, Brenntag AG, and Chemipol.

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:

Sherry James
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Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: www.grandviewresearch.com

Vacuum Insulation Panel Market is expected to reach USD 9.07 billion by 2024

The global Vacuum Insulation Panel Market is expected to reach USD 9.07 billion by 2024, according to a new report by Grand View Research, Inc. Growing construction spending is expected to assist the growth for vacuum insulation panel over the forecast period. These are preferred more, owing to their thermal resistance properties compared to conventional insulation materials.

Moreover, the International Energy Agency issued strict regulations to conserve energy which has further propelled the demand for such panels. These panels help in reducing greenhouse gas emissions such as carbon dioxide from the atmosphere, thus helping to prevent polluting the environment to a large extent. Such a trend is anticipated to benefit the overall market over the next eight years.

However, vacuum insulation panels exhibit a heavier weight than conventional insulation materials which is expected to remain a key challenge for market participants. Factors such as, durability, shape and fragility are also anticipated to determine the demand for vacuum insulation panels in future.

Several R&D initiatives are being taken to introduce automated panels, which shall result in cost reduction of vacuum insulation panels over the forecast period. Recently, EVAL EVOH resins are added to provide an outer lamination coating for vacuum insulation panels to increase their shelf life.

To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/vacuum-insulation-panel-market

Further key findings from the study suggest:

  • The global Vacuum Insulation Panel Market demand was 31.4 million square meters in 2015 and is expected to reach 45.7 million square meters by 2024, growing at a CAGR of 3.8% from 2016 to 2024
  • Silica-based panels dominated the global market in 2015 and are expected to grow at a CAGR of 4.2% over the next eight years. Silica-based panels are widely used in the construction industry due to its thermal resistant properties.
  • Flat glass emerged as the leading product segment and accounted for 55.4% of total market volume in 2015. Easy manufacturing method without any production hassles is an important factor that determines its growth over the forecast period.
  • Construction was the most dominant application with demand share exceeding 55% in 2015. The shift towards energy conservation coupled with increasing construction spending in Asia Pacific is expected to drive this segment.
  • Asia Pacific was the leading regional market and accounted for 42.6% of global demand in 2015. Growing urbanization coupled with increasing trend of infrastructural development due to rising population particularly in China and India is expected to steer the regional growth over the forecast period.
  • Major industry participants include Evonik Industries, Hausys Ltd, Panasonic Corporation, ThermoCor, OCI company Ltd. and Porextherm Dämmstoffe GmbH.

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