Market Trends and Growth

Friday, 8 October 2021

Epoxy Composite Market Outlook and Industry Forecast to 2028

The global Epoxy Composite Market size is expected to reach USD 55.97 billion by 2028, registering a CAGR of 8.3% over the forecast period, according to a new report by Grand View Research, Inc. Some of the key players are Teijin Ltd., Toray Industries, Inc., Huntsman Corp. LLC, SGL Carbon and Hexcel Corp. Growing usage of advanced lightweight functional materials in various industries, such as automotive & transportation, aerospace & defense, and wind energy, is expected to drive the market.

Increasing demand for composites in the automotive industry is anticipated to boost the market growth over the forecast period. Rising fuel prices have triggered the need for fuel-efficient vehicles, which is expected to increase the usage of composites. Composites are majorly utilized as the replacement for aluminum, wood, and steel on account of their higher strength-to-weight ratio.

The high manufacturing cost of composites is challenging the growth and profitability of the market across the world. In addition, initial capital investment is anticipated to pose a challenge over the forecast period. Companies, such as Toray Industries and Teijin Ltd., are integrated across the value chain of composites ranging from raw material supply to distribution activities and have also diversified their product offerings.

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Epoxy Composite Market Report Highlights

The glass fiber reinforced epoxy composites segment accounted for the highest revenue share of more than 60% in 2020 as a result of high demand due to their superior characteristics along with cost-effectiveness
The automotive & transportation application segment dominated the global market and is expected to register a significant CAGR over the forecast period
The wind energy application segment is expected to witness the fastest CAGR of more than 9% due to high product demand in this application or ensuring shape stability, structural strength, and damage resistance to wind turbine rotor blades
Asia Pacific led the global market in 2020, in terms of revenue share, owing to the presence of a robust automotive manufacturing base in the region
Key companies have undertaken various initiatives, such as technology innovations, R&D, partnerships, and mergers & acquisitions, to manufacture cost-effective and lightweight composite products

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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Thursday, 7 October 2021

Outdoor Living Structure Market to Witness a Strong Growth During 2021– 2028

The global Outdoor Living Structure Market is expected to reach USD 2.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% from 2021 to 2028. Key industry participants like Renson, Outdoor Structure Company LLC, Outdoor Living, Absolute Outdoor Living. Growing trend of utilizing the garden areas or, backyards to extend the building structures into dining areas, working spaces, grill areas are expected to propel the market growth over the forecast period.

As per a survey published by the National Kitchen & Bath Association (NKBA) for 2020-21, the adoption of outdoor living projects interest has grown by about 65% in the U.S. in comparison to the past few years. Furthermore, the demand for outdoor kitchen setups is expected to be highest, followed by patios and decks, and screened porches & three season rooms.

The stay-at-home restrictions imposed by governments across several countries amid the outbreak of the COVID-19 pandemic are expected to create new growth opportunities for the market. Companies offering perpetual work from home opportunity to employees has enabled homeowners to renovate their existing spaces into office spaces, mini gaming zones, grilling spaces, mini-gymnasiums, and yoga spaces.

The market is 100% customer-driven, i.e., these structures are built as per the specifications provided by the customers. In addition, the raw materials are also selected as per consumer preferences. This has led to market domination by local players confined to specific regions, however, companies including Absolute Outdoor Living, Corradi, Outdoor World are improving market penetration via contractors, and architects.

Related Press Release@ Outdoor Living Structure Market Report

Outdoor Living Structure Market Report Highlights

The pavilions/gazebo segment is expected to grow at the fastest CAGR of 6.9% over the forecast period owing to the structure having its own flooring and partly closed sides, thus improving placement and application options.
Furthermore, increasing use of the product for adding aesthetics near mini bars near pools, fireplace-based gatherings, and entertainment zones is expected to propel market growth over the forecast period.
North America dominated the market with a revenue share of 43.4% in 2020. This is attributed to the growing popularity of the concept of ‘outdoor living’ among consumers as it offers relaxation, leisure time to spend with family and friends, and a way to get connected to nature.
The European outdoor living structure market is driven by key factors such as demand for improved and luxurious lifestyle, increasing per capita income, presence of developed economies and rising investments in residential constructions and landscaping projects.
Several companies are offering app-based AI solutions for customers to update their preferences regarding the design of structures, materials to be used, tiles colors& designs, and size of structures as per the desired applications. For instance, Absolute Outdoor Living offers a StruXure Outdoor app, which is controlled by its partner, Somfy Systems Inc.

Pet Supplements Market Size, Share, Analysis and Forecast to 2028

The global Pet Supplements Market size is expected to reach USD 2.32 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. Some of the key industry participants are Nestlé Purina Petcare, Food Science Corporation, Ark Naturals and NOW Foods. Pet supplement sales soared as a result of increased consumer interest sparked by COVID-19, particularly in products that target immunity, anxiety, and overall wellness. When it comes to consumer buying patterns, joint health supplements are already at the top of the list, but hip and joint supplements are only one element of the senior pet health picture.

The growing numbers of aging dogs and cats are in need of an immune response, cardiac and cognitive support items, and anti-inflammatory and pain management aid, thanks to breakthroughs in veterinary treatment and pet owner interest in pet wellness and nutrition at an all-time high.

According to Packaged Facts' 2020 Pet Owners Survey, 47% of dog owners have a dog aged 7 or older, up from 43% in our previous study, and 43% of cat owners have a cat aged 7 or older, up from 39% in our previous survey, demonstrating the growth of this pet demographic. Marketers can leverage already-existing products into a growing pet population segment by targeting the senior population with personalized products and senior-specific products, such as multifunctional supplements, thereby offering another viable avenue for market expansion.

According to a survey of pet food producers performed by Petfood Industry in April, 60% indicated higher sales through online shops. Granted, that was during the early lockdown-induced stockpiling of pet food and many other essential household goods; however, in the most recent Petfood Industry Confidence Index surveys of pet food executives and other professionals, e-commerce has remained one of the few bright spots as business confidence has lagged in other areas.

Many dog owners are naturally anxious about administering human-grade CBD oil to their pets. However, firms such as Royal CBD and Gold Bee have created CBD products designed specifically for pets that are less strong. Preliminary research from Baylor College of Medicine suggests that CBD oil can aid in the treatment of canine osteoarthritis, which affects 20% of dogs over the age of a year.

Related Press Release@ Pet Supplements Market Report

Pet Supplements Market Report Highlights

By pet type, the dogs segment accounted for the largest share of over 45.0% in 2020 as dogs are the most popular pets in the world, with an incredibly high adoption rate
The offline distribution channel segment accounted for the largest share of over 75.0% in 2020 and is expected to witness the fastest growth over the forecast period
North America held the largest share of over 40.0% in 2020. An increase in the number of pet owners and increased knowledge among pet owners about various health hazards are some of the factors fueling the regional market growth

Tuesday, 28 September 2021

Webcam Market Size Worth $18.1 Billion By 2028

The global Webcam Market size is expected to reach USD 18.1 billion by 2028, registering a CAGR of 12.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. Factors such as the rising concern regarding security and surveillance, increasing emphasis on virtual meetings across the commercial sector, and continuous product innovations are expected to support the growth of the market.

The market has also benefitted from the continual advancements in technology, allowing for better recording, zoom quality, and better streaming. An increasing number of webcams in the market incorporate advanced features such as 1080p resolution, 60 fps video streaming, auto light correction, and autofocus, targeting emerging customers such as video-streamers and professional gamers. Advanced features such as these also facilitate the application of webcams in smart home security systems for remote surveillance.

Furthermore, state-of-the-art web cameras are finding increased demand across telehealth services. Healthcare professionals deploy webcams to examine and prescribe medicines to patients living in remote or distant locations. For instance, Secure Telehealth, a web-based platform provider for telemental health, collaborated with Logitech. Under the collaboration, the company deployed cost-effective and high-resolution Logitech webcams to offer remote mental health services to patients from distant geographies.

The COVID-19 pandemic has created an unprecedented demand for web cameras worldwide. The adoption of hybrid business models and remote working models in the enterprise sector has helped open promising opportunities for the market. In 2020, leading market participants, including Logitech, have witnessed more than 100% sales compared to the previous year, thanks to the notable rise in video conferencing and connecting virtually with peers and family members. Moreover, webcams played a prominent part in ensuring seamless access to K-12 education activities at the global level. Online education was promoted for continuing curriculums without any disruptions in the knowledge transfer between teachers and students.

Related Press Release@ Webcam Market Report

Webcam Market Report Highlights

In terms of technology, the digital segment is likely to witness the fastest CAGR of nearly 15.0% over the forecast period. This can be attributed to the soaring demand for better image quality and more video coverage area
In terms of product, the wireless segment is expected to witness the fastest growth. Volume-wise, the segment is expected to register a CAGR of close to 20% over the forecast period owing to benefits such as portability and better ease of use as compared to USB webcams
In terms of end use, the security and surveillance segment captured a revenue share of nearly 20% in 2020 with the rising need for real-time monitoring to detect uncertain movement and alerting about unexpected events
North America dominated in 2020 and accounted for a revenue share of over 35% of the overall market. This can be attributed to the early adoption of the latest technologies by the consumers based in this region

Monday, 13 September 2021

Southeast Asia Pipes Market Size Worth $24.8 Billion By 2028

The Southeast Asia Pipes Market size is expected to reach USD 24.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.3% from 2020 to 2028. Growing investments towards infrastructure development and the use of the product in construction refurbishment are factors expected to drive industry growth over the forecast period.

Factors such as changes in raw material prices, stringent government regulations regarding industrial processes, policies related to the environment, and sustainability of the products are likely to have an impact on the profit margins of the product manufacturers. Investors are highly exposed to long-term risks due to possible disruptions in the demand for raw materials, oil price fluctuations in the global market.

The COVID 19 pandemic has severely impacted the growth of the market in the region. Lockdown measures to curb the spread of the virus in several countries along with the disruption of the global supply chain have impacted the majority of industries including construction, food, and chemical processing. Moreover, complexities in the supply chain also caused a shortage in raw materials supply for the production of pipes.

Related Press Release@ Southeast Asia Pipes Market Report

Southeast Asia Pipes Market Report Highlights

The polypropylene pipes segment accounted for revenue share valued at USD 4.5 billion in 2020 on account of their superior chemical resistance and lower thermal conductivity, which prompts their usage in the HVAC, and drainage systems
The plumbing application segment is expected to register a sales revenue of USD 5.6 billion by 2028 due to the growth of the residential and commercial construction in the region owing to the rising adoption of ‘China plus one’ strategy by the major industry players
The commercial sector accounted for a revenue share of 72.8% in 2020 due to high consumption of the product in water supply infrastructure, hospitals, and industrial facilities
In Vietnam, the market is expected to witness a CAGR of 4.0% from 2020 to 2028 on account of rising investments for the development of drainage and sewage systems in the country driven by plans such as the Trenchless Sewerage Pipe Rehabilitation
Manufacturers focus on the production of new products for strengthening their market position. For instance, in March 2021, Wavin has launched its advanced low-noise pipe system, Wavin AS+ in Indonesia, which is currently witnessing significant urbanization and infrastructure development

Monday, 6 September 2021

U.S. Surgical Pet Collar Market Size is Predicted to Witness 7.2% CAGR till 2028

The U.S. Surgical Pet Collar Market size is anticipated to reach USD 219.0 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Rising healthcare expenditure on domestic animals, growing demand for insurance, and an increase in the rate of pet adoption are anticipated to propel the growth of the market.

Surgical pet collars have proved to be extremely important for preventing pets from licking, biting, or scratching at a wound or a surgery site. Without these e-collars, pets have been seen to chew out stitches or worsen wounds, often requiring second surgeries to repair the damage. Licking or chewing at a wound can also result in severe infection, even antibiotic-resistant infections, which require longer treatment courses. In some cases, especially when abdominal surgeries are involved, life-threatening injuries can result from chewing out stitches. Thus, the penetration of surgical collars has widened with growing efforts to quicken the recovery of the pet post-surgery or injury.

Studies show that pets become important members of the household, providing comfort and companionship. Many children with autism and ADHD reportedly thrive working with therapy animals. The increasing adoption of surgical collars in the U.S. is due to the trends of pet owners spending money on keeping their pets healthy and purchasing products that help in keeping their pets comfortable, post-surgery and treatment.

Most manufacturers have been expanding their offerings through offline and online distribution channels and this is paving the way for higher consumer interaction and purchases. In addition to buying surgical pet collars at the vet, they can also be purchased at general merchandise stores or pet specialty shops. Some of the popular pet specialty shops in the country are PetSmart; Petco Animal Supplies, Inc.; Pet Valu; Pet Supplies Plus; and Pet Supermarket.

Creating surgical collars that can contribute to the health of the pet rather than deteriorating it presents a huge growth opportunity for pet collar manufacturers. As a result, manufacturers have been consistently investing in the development of collars that are customizable in size for different breeds, so that the animal’s eating or drinking is not impacted in any way.

The plastic collars segment dominated the market and accounted for the largest revenue share in 2020. These collars have cotton padding and are secured around the neck with Velcro on the neckline or can be directly attached to the regular collar. Some of these also have a padded outer rim to prevent chaffing. The rise in the adoption of dogs among baby boomers in recent years is anticipated to propel the market in the country. Millennials also hold a significant share when it comes to dog ownership, thereby driving the market.

Request a free sample copy or view report summary: U.S. Surgical Pet Collar Market Report

U.S. Surgical Pet Collar Market Report Highlights

By product, the inflatable surgical pet collar segment is projected to be the fastest-growing segment by progressing at a CAGR of 8.0% over the forecast period
The dog send-use segment was valued at USD 77.8 million in 2020 and is expected to reach USD 138.2 million by 2028
The plastic collar segment dominated the market and accounted for the largest revenue share in 2020

Wednesday, 19 May 2021

Bioactive Materials Market – Industry Insights by Application and Region, 2028

The global Bioactive Materials Market size is estimated to reach USD 5.85 billion by 2028 registering a CAGR of 14.0% over the forecast period, according to a new report by Grand View Research Inc. Growing geriatric population coupled with the advancement in various surgical procedures is expected to drive the product demand in the market. Rising consumer awareness about health and well-being is projected to drive market growth during the forecast period.

The product helps in promoting stem cell structure and the transplanted stem cells offer enhanced therapeutic effects in surgeries. Thus, a wide scope of application for these products in the replacement and reconstruction of damaged cells, tissues, and bones is fueling the product demand in the surgery application sector. Moreover, increasing technological advancements coupled with the growing demand for dental care and orthopedics, due to high awareness about oral health & hygiene, are also supporting market growth.

The availability of favorable healthcare policies and fast-curing surgical & low-cost post-implant procedures in various developed regions including, the U.S., Japan, France, and others, are offering positive growth prospects to the overall market. Some of the key applications of the product include dentistry, surgery, bioengineering, and others.

Related Press Release@ Bioactive Materials Market Report

Bioactive Materials Market Report Highlights

The glass material segment is expected to register the fastest CAGR of 14.8% over the forecast period
This growth is credited to high demand for glass materials owing to their nonporous and solid characteristics, which are suited for stimulation of bone growth and various surgical procedures
In 2020, dentistry emerged as the largest application segment with a share of 46.0% and is likely to ascend at a significant CAGR during the forecast period
Growing cases of oral health problems including cancer and gum problems are driving the product demand in the dentistry application segment
In 2020, North America emerged as the largest regional market owing to the increased number of dental procedures performed, such as tooth regeneration, root canal, bone-defect treatment, and various related surgeries
In Europe, the revenue for the powder type segment was valued at USD 157.9 million in 2020 and is anticipated to gain higher shares in the forecast period on account of rising demand from the dentistry, bioengineering, and surgery application industries
Asia Pacific is estimated to be the fastest-growing regional market during the forecast period on account of increasing product consumption as a result of rising health problems and growing population in emerging economies like China and India
Prominent players in the market have undertaken various initiatives, such as advancing healthcare infrastructure, partnership, and scientific research in collaboration with healthcare institutions
Moreover, government support and policies within the respective countries are expected to influence the market on a positive note