Recycled Polyethylene Terephthalate Market Is Expected To Gain Significant Traction Over The Forecast Period: Grand View Research Inc.

 Recycled Polyethylene Terephthalate Market Growth & Trends

The global recycled polyethylene terephthalate market size is expected to reach USD 14.40 billion by 2028, according to a new study by Grand View Research, Inc., growing at a CAGR of 6.7% over the forecast period. The growing beverage industry in countries, such as China, India, Japan, South Korea, Vietnam, and the Philippines, as well as increasing demand for Recycled Polyethylene Terephthalate (rPET) in non-food sectors, is expected to drive the global market over the forecast period.

Recycled PET is a synthetic compound prepared from used PET products, which finds application in a wide range of end-use industries. The resins are produced from post-consumer PET bottle flakes and are one of the most stable forms of recycled PET. Clear was the largest type of rPET in 2020 and the product is expected to continue dominating the global market owing to the high demand in the production of bottles and sheets. Clear recycled PET is widely used in multiple applications, such as in the production of resins and fibers.

Rising concerns about the sustainability of natural resources in the developing economies of North America and Europe are expected to have a positive influence on the product demand over the forecast period. The shift in preference toward establishing manufacturing units in the Asia Pacific region, especially in China, India, Vietnam, Indonesia, and Thailand, is also expected to propel the product demand. The non-food containers and bottles end-use segment is expected to grow at a steady rate over the forecast period.

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Recycled Polyethylene Terephthalate Market Report Highlights

• The global market was valued at USD 8.6 billion in 2020 and is estimated to grow at a CAGR of 6.7% from 2021 to 2028
• The clear product segment accounted for the largest revenue share in 2020 and is anticipated to retain its dominance throughout the forecast period
• Low energy requirements and ease of bottle-to-bottle recycling are expected to drive the demand for clear recycled PET over the forecast period
• The food & beverage containers & bottles end-use segment is projected to register the fastest CAGR over the forecast period
• In terms of revenue, Asia Pacific dominated the global market and is projected to expand further at a steady CAGR over the forecast period
• The growth can be credited to the presence of a strong manufacturing industry wherein rPET is widely used across several applications
• North America is projected to grow at a significant CAGR over the forecast period owing to the presence of several key end-use industries, such as FMCG, consumer goods, clothing & textile, and automobile, and the anticipated surge in recycled plastic adoption in these industries

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Recycled Polyethylene Terephthalate Market Segmentation

Grand View Research has segmented the global recycled polyethylene terephthalate market on the basis of product, end-use, and region:

rPET Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Clear
• Colored

rPET End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• Fiber
• Sheet & Film
• Strapping
• Food & Beverage Bottles & Containers
• Non-Food Bottles & Containers
• Others

rPET Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • Sweden
  • UK.
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific
• Latin America
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

List of Key Players of Recycled Polyethylene Terephthalate (rPET) Market

• PLACON
• Verdeco Recycling, Inc.
• Indorama Ventures Public Ltd.
• POLYQUEST
• Evergreen Plastics, Inc.
• Libolon

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.

Scaffold Technology Market is Anticipated To Generate Significant Revenues by 2028: Grand View Research Inc.

 Scaffold Technology Market Growth & Trends

The global scaffold technology market size is expected to reach USD 2.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2021 to 2028. The market growth can be primarily attributed to the growing popularity of bioprinting for mimicking the tissue microenvironment in printed 3D tissue models. The need to expand the horizon of multidisciplinary research areas has supplemented the adoption of scaffold technologies in 3D printed models.

For instance, in October 2021, researchers integrated novel biomaterial scaffold-guided regeneration for multiple periodontal tissues. The incorporation of advanced imaging modalities along with 3D printing has facilitated non-invasive tracking of in vivo degradation of scaffolds. The advent of such technologies is expected to propel the adoption of scaffolds in tissue engineering and regeneration, thereby providing considerable momentum to market growth.

Additionally, the development of novel diagnostic and therapeutic strategies such as tissue engineering, regenerative medicine, have been largely favored in the wake of the pandemic outbreak of SARS-COV-2 infection. Expanding research activities in the field of tissue engineering have led to the advent of scaffold-based vaccine systems, which have the potential tocombatCOVID-19. Progress in this area is expected to cause a surge in the adoption of advanced medical technologies in COVID-19 vaccine development and research.

Furthermore, researchers are proactively using in vitro human lung tissue models developed using tissue-engineered for the understanding of mechanisms of the infection and host-pathogen interface. The application of tissue engineering is used for culturing multiple pulmonary cell lines, improving the relevance of in vitro models, and the use of 3D scaffolds that mimic native pulmonary architecture.

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Scaffold Technology Market Report Highlights

• The hydrogels segment dominated the market in terms of revenue in 2020 owing to advantages such as high biocompatibility, thermal reversibility, and strong cellular activities, contributing to its increasing adoption rate
• The nanofiber-based scaffolds segment is expected to witness lucrative growth owing to the growing advancements such as 3D molding for developing 3D nanofiber membranes
• The stem cell therapy, regenerative medicine, and tissue engineering segment held the largest revenue share in 2020
• This growth is attributed to the expanding adoption of scaffolds in the aesthetic procedure, wound healing, periodontology, and colorectal surgeries
• The drug discovery segment is expected to witness the fastest CAGR over the forecast period
• Scaffolds play a vital role in the elucidation of molecular reasons for the activity of drug candidate in toxicity screening procedures, which is expected to impact the growth of medical technology in this segment
• The orthopedics, musculoskeletal, and spine segment held a substantial market share in 2020 due to an increase in the popularity of regenerative medicines
• Regenerative medicines can offer various lower risk substitutes to allograft surgery, thereby supplementing the adoption of the technology in this segment
• The biotechnology and pharmaceutical industries segment dominated the market in terms of revenue share in 2020 owing to their high engagement in new drug discovery and development
• North America held the largest revenue share in 2020. Growth in this region is owing to the presence of key players and extensive R&D activities
• Companies operating in the market are entering into partnership for developing 3D cell culture models
• For instance, in March 2021, PELOBiotech GmbH entered in partnership with Rigenerand SRL for developing 3D Cell Culture models. The company distributed its VITVO handheld bioreactor which is integrated with a scaffold for establishing in vitro 3D cell culture model that is used in pre-clinical investigations and research applications

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Scaffold Technology Market Segmentation

Grand View Research has segmented the global scaffold technology market based on type, application, disease type, end-use, and region:

Scaffold Technology Type Outlook (Revenue, USD Million, 2017 - 2028)

• Hydrogels
  • Polymeric
  • Micropatterned Surface Microplates
  • Nanofiber-based
• Wound Healing
• 3D Bioprinting
• Immunomodulation

 Scaffold Technology Application Outlook (Revenue, USD Million, 2017 - 2028)

• Stem Cell Therapy, Regenerative Medicine, & Tissue Engineering
• Drug Discovery
• Others

Scaffold Technology Disease Type Outlook (Revenue, USD Million, 2017 - 2028)

• Orthopedics, Musculoskeletal, & Spine
• Cancer
• Skin & Integumentary
• Dental
• Cardiology & Vascular
• Neurology
• Urology
• GI, Gynecology
• Others

Scaffold Technology End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Biotechnology and Pharmaceutical Industries
• Research Laboratories and Institutes
• Hospitals and Diagnostic Centers
• Others

Scaffold Technology Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
• Latin America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Scaffold Technology Market

• Merck KGaA
• Thermo Fisher Scientific, Inc.
• Becton, Dickinson, and Company
• 3D Biotek LLC
• Xanofi
• Molecular Matrix, Inc.
• Tecan Trading AG
• REPROCELL Inc.
• Matricel GmbH
• Pelobiotech
• Corning Incorporated
• Akron Biotech
• Avacta Life Sciences Limited.
• Nanofiber Solutions
• 4titude
• Bioquote Ltd
• Vericel Corporation
• NuVasive, Inc.
• Allergan
• Medtronic

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.

Global Automotive Electronics Market is Estimated To Reach A Valuation of USD 392.49 Billion by 2028: Grand View Research Inc.

 Automotive Electronics Market Growth & Trends

The global automotive electronics market size is expected to reach USD 392.49 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 7.9% from 2021 to 2028. Increasing safety and security concerns to curb the rising road fatalities in developed and developing economies across the globe are the factors anticipated to drive the demand for automotive electronics. The rising demand for electric vehicles, autonomous vehicles, and state-of-the-art vehicle technology is also expected to fuel the market growth. Accident data recorder systems, emergency call systems, and alcohol ignition interlocks are some of the prominent technologically advanced features that are expected to drive the market growth over the forecast period.

The availability of advanced safety systems with features such as blind-spot detection and automatic emergency braking at lower costs has led to the increased implementation of these systems. This, in turn, is expected to boost the adoption of automotive ECUs and sensors used in these systems, subsequently fueling the market growth. Moreover, these features adhere to government rules and regulations and are anticipated to pave the way for adopting autonomous vehicles. The ECUs and sensors are used for controlling the electronic functions in these vehicles, thereby increasing the demand for these components.

The COVID-19 pandemic has negatively impacted the demand for automotive electronics in 2020. The implementation of lockdowns and social distancing norms globally has led to losses for industries such as manufacturing, automotive, entertainment, restaurant, and hospitality. The overall vehicle production volumes declined globally on a year-on-year basis, mainly due to the decrease in production volumes in North America and Europe, among other regions. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), global automobile production dropped by more than 15% i.e., 77.6 million units in 2020 as compared to 91.7 million units in 2019. However, as governments begin to gradually relax lockdown norms and allow businesses to operate with mandates of social distancing, the market can expect a period of respite for the short-term due to the growing demand for cars from the middle-class populations.

The market for automotive electronics is also affected by the recent semiconductor chip shortages globally. The semiconductor chip supply crunch, powered by the pandemic supply-chain gyrations and rising demand, has majorly affected the automakers, forcing them to temporarily halt production in their factories. In April 2021, General Motors and Ford announced plans to temporarily shut down their factories due to a shortage of semiconductor chips. The chaotic ordering from the automotive OEMs makes it harder for chipmakers to understand where they need to allocate supply to meet the real and short-term needs.

The Asia Pacific regional market captured around 41% of the overall automotive electronics demand in 2020 and is estimated to register the highest CAGR of 8.3% over the forecast period. The demand in the Asia Pacific region is largely fulfilled by China, India, and Japan. China is the world's largest manufacturing hub and one of the fastest-growing economies. The Chinese automotive manufacturers are leveraging favorable market conditions to take the lead and dominate the market. Moreover, the Make in India campaign is expected to draw investments in the automotive sector, thus boosting the demand for automotive electronics.

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Automotive Electronics Market Report Highlights

• In terms of component, the sensors segment is estimated to expand at the highest CAGR of around 9.2% over the forecast period. This can be attributed to favorable government initiatives for passenger safety and security in various regions
• In terms of application, the safety system emerged as the largest segment in 2020. Increasing customer awareness about technological changes related to safety equipment in vehicles is expected to act as a potential driver for the growth of the safety systems segment
• In terms of sales channel, the OEM segment emerged as the largest segment in 2020 owing to the increased durability and shelf-life of electronic components
• The Asia Pacific region held the largest market share in 2020. This can be attributed to the increasing production of vehicles in India, China, and Japan

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Automotive Electronics Market Segmentation

Grand View Research has segmented the global automotive electronics market based on component, application, sales channel, and region:

Automotive Electronics Component Outlook (Revenue, USD Million, 2016 - 2028)

• Electronic Control Unit
• Sensors
• Current Carrying Devices
• Others

Automotive Electronics Application Outlook (Revenue, USD Million, 2016 - 2028)

• ADAS
• Infotainment
• Body Electronics
• Safety Systems
• Powertrain Electronics

Automotive Electronics Sales Channel Outlook (Revenue, USD Million, 2016 - 2028)

• OEM
• Aftermarket

Automotive Electronics Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

List of Key Players in the Automotive Electronics Market

• Continental AG
• DENSO Corporation
• Hella GmbH& Co. KGaA
• Infineon Technologies AG
• Robert Bosch GmbH
• Valeo Inc.
• ZF Friedrichshafen AG
• Hitachi Automotive Systems, Ltd.
• Visteon Corporation
• Xilinx, Inc.

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.

Cardiac Rhythm Management Devices Market Pegged For Strong Growth During 2021-2028: Grand View Research Inc.

 Cardiac Rhythm Management Devices Market Growth & Trends

The global cardiac rhythm management devices market size is anticipated to reach USD 29.9 billion by 2028, according to a new report by Grand View Research. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. The market has shown constant growth in the adoption of cardiac rhythm management (CRM) devices owing to the increasing prevalence of cardiovascular disorders. According to the CDC, as of September 2020, approximately 655,000 Americans die suffering from heart disease every year.

The market was negatively impacted during the COVID-19 pandemic, as elective procedures, including the non-essential cardiovascular procedures, were postponed or canceled during the pandemic. Major players in the market, such as Medtronic, Abbott, and Boston Scientific Corporation, incurred huge losses in their cardiac rhythm management business segments globally. This resulted in negative growth of the market in 2020.

Revolutionary technological progress is rapidly transforming the market. These expansions are producing lucrative potentials. Increase in R&D expenditure and new product launches by leading firms is driving the market. For instance, in October 2020, Abbott launched its new ICD and CRT-D in India, to expand its product portfolio in the country. The company had also received CE Mark approval for its Gallant ICD and CRT-D devices in February 2020. Some of the major market players account for a significant share of the market owing to their extensive product offerings.

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Cardiac Rhythm Management Devices Market Report Highlights

• The defibrillator segment held the largest revenue share in 2020 owing to high acceptance of the device, globally
• The ICD segment dominated the defibrillators segment in 2020 and accounted for more than 60.0% of the revenue share, owing to its better patient outcome
• In the external defibrillator segment, the automatic external defibrillator segment held the highest revenue share in 2020 owing to associated benefits, including pacing, i.e., delivering pulses of the current to stimulate heart contraction as well as cardioversion, converting arrhythmia or tachycardia to a normal heartbeat
• In 2020, North America held the dominant revenue share of the market owing to the rising prevalence of cardiovascular diseases and high adoption of CRM devices
• Asia Pacific is expected to show lucrative growth over the forecast period owing to the presence of emerging countries such as China and India

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Cardiac Rhythm Management Devices Market Segmentation

Grand View Research has segmented the global cardiac rhythm management devices market on the basis of the product and region:

CRM Devices Product Outlook (Revenue, USD Million, 2016 - 2028)

• Pacemakers
  • Implantable
  • External
• Defibrillators
  • Implantable Cardioverter Defibrillators (ICD)
    • S-ICD
    • T-ICD
  • External Defibrillator
    • Manual External Defibrillator
    • Automatic External Defibrillator
    • Wearable Cardioverter Defibrillator
  • Cardiac Resynchronization Therapy (CRT)
    • CRT-Defibrillator
    • CRT-Pacemakers

CRM DevicesRegional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia

 List of Key Players of Cardiac Rhythm Management (CRM) Devices Market

• Physio-Control, Inc. (Stryker)
• Schiller
• Medtronic
• Abbott
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• Zoll Medical Corporation
• BIOTRONIK
• Progetti Srl

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.

Stem Cell Market Poised to Garner Maximum Revenues During the Forecast Period: Grand View Research Inc.

 

Stem Cells Market Growth & Trends

The global stem cells market size is expected to reach USD 18.4 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.8% during the forecast period. The market is driven by the rising number of stem cell banks, growing focus on increasing therapeutic potential of these, and extensive research for the development of regenerative medicines, among other factors.

Companies are receiving robust funding for the development of cellular therapies for cancer, which is anticipated to supplement the market growth. For instance, in February 2021, Notch Therapeutics, Inc. received funding of USD 85 million for developing induced pluripotent therapies for cancer. The investment will support the development of the company’s iPSC-derived T cell-based therapeutic candidates and expanding the application of their proprietary Engineered Thymic Niche (ETN) platform.

The increasing focus on regenerative medicines is further driving the market growth. The iPSCs are gaining popularity for the development of personalized cellular therapies and are creating new opportunities for regenerative medicine. For instance, in September 2020, researchers from Duke-NUS and Monash University discovered the first stem cell that can help in the treatment of placenta complications during pregnancy.

The researchers discovered a new way for creating induced trophoblast stem cells which can be used for making placenta cells. The discovery will facilitate in developing a model human placenta in vitro and enabling a pathway for future cell therapies. The administration of cell therapy demonstrated positive results in the treatment of COVID-19 patients, which is further contributing to the market growth. In January 2020, a group of researchers used stem cell treatment on patients in Beijing, China for checking its effectiveness against COVID-19.

The patients received a single infusion of mesenchymal stem cells (MSCs) which was found to be effective in developing an immune response. However, to date, there are no MSCs that are approved by the U.S. Food and Drug Administration (FDA) for the treatment of COVID-19 owing to insufficient data on their role in treating COVID-19.

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Stem Cells Market Report Highlights

• ASCs segment accounted for the largest share of 85.7% in 2020 as it is considered as a gold standard in stem cell-based therapies. They are widely accepted owing to their consistent clinical success especially in hematopoietic transplants and there is a relatively less controversial view regarding their origin
• The iPSC segment is expected to witness a lucrative CAGR of 9.3% through 2021-2028 owing to the increasing focus of companies in using iPS for cell therapies. For instance, in July 2020, Cynata Therapeutics Limited announced positive results for the phase 1 clinical trial of CYP-001, the company’s lead induced pluripotent stem cell (iPSC)-derived Cymerus
• Regenerative medicine dominated with a market share of 89.1% in 2020 owing to increasing funding by the government for the development of regenerative medicines. For instance, in October 2020, the AusBiotech-led consortium received funding of $300,000 from MTPConnect’s Industry Growth Centre Project Fund for the development of regenerative medicines in the country
• Cell acquisition held the largest market share of 35.8% in 2020 and is expected to expand at the fastest CAGR through 2021-2028 owing to increasing research studies involving cell harvesting
• Allogenic therapy dominated with a market share of 58.2% in 2020 owing to the increasing application of allogeneic stem cell transplants for cancer treatment
• The North America market encompasses U.S. and Canada. The factors contributing to the market growth in the region include robust government funding, increasing research, and the presence of prominent players.
• Asia Pacific is expected to expand with the fastest CAGR of 9.0% through 2021 to 2028 owing to increasing expansion by key companies in this region. For instance, in April 2020, Seneca Biopharma completed its new stem cell manufacturing facility in Suzhou, China

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Stem Cells Market Segmentation

Grand View Research has segmented the global stem cells market based on product, application, technology, therapy, and region:

Stem Cells Product Outlook (Revenue, USD Million, 2017 - 2028)

• Adult Stem Cells (ASCs)
  • Hematopoietic
  • Mesenchymal
  • Neural
  • Epithelial/Skin
  • Others
• Human Embryonic Stem Cells (HESCs)
• Induced Pluripotent Stem Cells (iPSCs)
• Very Small Embryonic Like Stem Cells

Stem Cells Application Outlook (Revenue, USD Million, 2017 - 2028)

• Regenerative Medicine
  • Neurology
  • Orthopedics
  • Oncology
  • Hematology
  • Cardiovascular and Myocardial Infraction
  • Injuries
  • Diabetes
  • Liver Disorder
  • Incontinence
  • Others
• Drug Discovery and Development

Stem Cells Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Cell Acquisition
  • Bone Marrow Harvest
  • Umbilical Blood Cord
  • Apheresis
• Cell Production
  • Therapeutic Cloning
  • In-vitro Fertilization
  • Cell Culture
  • Isolation
• Cryopreservation
• Expansion and Sub-Culture

Stem Cells Therapy Outlook (Revenue, USD Million, 2017 - 2028)

• Autologous
• Allogenic

Stem Cells Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players of Stem Cells Market

• CELGENE CORPORATION
• STEMCELL Technologies Inc.
• Lineage Cell Therapeutics, Inc.
• Osiris Therapeutics, Inc.
• Human Longevity, Inc.
• Cynata
• Cytori Therapeutics Inc.
• Advanced Cell Technology Inc.
• Promethera Biosciences
• Mesoblast Ltd

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.

Synthetic Leather Market Industry Analysis, Opportunity Assessment And Forecast Till 2028: Grand View Research Inc.

 Synthetic Leather Market Growth & Trends

The global synthetic leather market size is anticipated to reach USD 57.0 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 7.8% from 2021 to 2028. Increasing product application scope in footwear has been a major factor driving the market growth. In addition, growing importance and awareness about animal rights and stringent laws regarding the usage of real leather are propelling the demand for its synthetic counterpart. Synthetic leather materials offer superior properties, such as high gloss finish, durability, strength, and UV resistance, and easy maintenance. Moreover, products made from faux leather are cheaper and thus, continue to attract consumers, especially from middle- and high-income level groups.

However, in countries, such as Japan, the product is facing competition from Fumikodata, which is a replica of real leather and is a cruelty-free material. Polyurethane (PU) was the largest product category in 2020 and is expected to register the fastest CAGR over the forecast period. Polyvinyl Chloride (PVC) is anticipated to witness sluggish growth on account of its properties, such as sticky finish and low durability. The footwear application segment is expected to observe considerable growth over the upcoming years. Cheaper costs and fluctuating climatic conditions in several regions create the need for different types of footwear.

Rising disposable income levels in emerging regions are also fueling the product demand in the footwear segment. Moreover, the trend of incorporating athletic shoes in daily lifestyle is further augmenting the product demand. Consumer spending in the U.S. and some European countries has slowed down slightly owing to the global recession. However, the footwear industry has witnessed significant growth in the emerging markets due to high product demand from countries, such as China, India, South Korea, Vietnam, Thailand, and other South Asian countries.

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Synthetic Leather Market Report Highlights

• The global market is expected to witness significant growth over the forecast period owing to rising product demand in the footwear and automotive applications
• PU leather emerged as the largest product segment in 2020 and is estimated to generate revenue over USD 35.6 billion by 2028
• Asia Pacific is projected to be the fastest-growing as well as the largest regional market over the estimated period
• The market growth in APAC can be credited to the rapid economic growth across countries, such as India, China, Japan, and Korea
• In addition, the rapid development of the construction and automotive manufacturing industries in APAC is fueling the product demand further
• Countries, such as South Korea, Taiwan, China, and India, are emerging as leading producers in the global market as a result of the availability of relatively cheaper raw materials

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Synthetic Leather Market Segmentation

Grand View Research has segmented the global synthetic leather market on the basis of product, application, and region:

Synthetic Leather Product Outlook (Volume, Million Meter; Revenue, USD Million, 2016 - 2028)

• PU
• PVC
• Bio-based

Synthetic Leather Application Outlook (Volume, Million Meter; Revenue, USD Million, 2016 - 2028)

• Furnishing
• Automotive
• Footwear
• Bags & Wallets
• Clothing
• Others

Synthetic Leather Regional Outlook (Volume, Million Meter; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK.
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa

List of Key Players of Synthetic Leather Market

• Kuraray Co., Ltd.
• R. Polycoats Pvt. Ltd.
• Nan Ya Plastics Corp.
• Teijin Ltd.
• Alfatex Italia SRL

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.

Cold Chain Market Estimated to Experience a Hike in Growth by 2028: Grand View Research Inc.

 Cold Chain Market Growth & Trends

The global cold chain market size is estimated to reach USD 628.26 billion by 2028, according to a new study by Grand View Research, Inc., registering a CAGR of 14.8% from 2021 to 2028. Technological advancements in the packaging, processing, and storage of seafood products are expected to drive the market over the forecast period. Cold chain solutions have become an integral part of Supply Chain Management (SCM) for the transportation and storage of temperature-sensitive products. Increasing trade of perishable products is anticipated to drive product demand over the forecast period.

Companies operating in this market are increasingly adopting alternative energy solutions, such as wind and solar energy, to minimize the overall operating costs. Among cold chain solutions, the refrigeration system is used to maintain the quality of products and enhance their shelf life. However, refrigerants used in refrigeration systems pose a threat to the environment because of their high Global Warming Potential (GWP) and Ozone Depletion Potential (ODP). Stringent food safety regulations, such as the Food Safety Modernization Act that requires increased attention toward the construction of cold storage warehouses, are slated to benefit the market.

Adoption of environmental audit systems, such as Leadership in Energy and Environmental Design (LEED) or Building Research Establishment Environmental Assessment Method (BREEAM), can evaluate designs at an initial stage. Thus, the operational performance of completed buildings can be assessed through these audit systems. Temperature-controlled warehouses are highly energy-sensitive as they incorporate refrigeration and ventilation systems that require high power consumption. However, better designs can reduce power consumption and can help build net-zero energy warehouses.

Intelligent warehouse automation and control systems are one of the factors assisting buildings to achieve net-zero energy to become self-sustainable. Less energy consumption notably lowers operating expenditure, eventually contributing to the protection of ecology and climate. In terms of revenue, North America is anticipated to be the largest regional market by 2028. Mexico is expected to have exponential growth over the forecast period owing to the rising investments for the development of logistics infrastructure and increasing penetration of the Warehouse Management System (WMS).

In South America, Brazil is a major contributor to market growth. Implementation of dietary guidelines on the usage of fresh food products over processed food led by the Brazilian government is expected to boost the market in the country. These guidelines require the development of cold chains to meet the requirements for storage, transportation, and packaging of fresh food. Many service providers have invested in adding onboard tracking equipment to refrigeration units. This provides real-time location and temperature data to shippers and third-party logistics. It further helps them with increased visibility and opportunity to mitigate or prevent losses.

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Cold Chain Market Report Highlights

• Due to a shift in focus from increasing productivity to providing better transport and storage facilities, the market has gained prominence in developing countries, such as China and India
• Cold chain monitoring, smart packaging, sample lifecycle management, men and material tracking, and connected equipment are among IoT applications of key importance for the pharmaceuticals industry
• Radio Frequency Identification (RFID)-enabled supply chain provides higher efficiency and has opened up new growth opportunities by offering product-level visibility
• Globalization and rising number of pharmaceutical and food safety counterfeit incidents have compelled governments to tighten regulations pertaining to production and supply
• The Government of India remains keen on supporting the development of the cold chain industry and is encouraging private participation by launching subsidy schemes and offering grants

Access Press Release@ https://www.grandviewresearch.com/press-release/global-cold-chain-market

Cold Chain Market Segmentation

Grand View Research has segmented the global cold chain market on the basis of type, packaging, equipment, application, and region:

Cold Chain Type Outlook (Revenue, USD Million, 2017 - 2028)

• Storage
  • Warehouses
    • On-grid
    • Off-grid
  • Reefer Containers
• Transportation
  • Road
  • Sea
  • Rail
  • Air
• Monitoring Components
  • Hardware
    • Sensors
    • RFID Devices
    • Telematics
    • Networking Devices
  • Software
    • On-premise
    • Cloud-based

Cold Chain Packaging Outlook (Revenue, USD Million, 2017 - 2028)

• Product
  • Crates
    • Dairy
    • Pharmaceuticals
    • Fishery
    • Horticulture
  • Insulated Containers & Boxes
    • Payload Size
      • Large (32 to 66 liters)
      • Medium (21 to 29 liters)
      • Small (10 to 17 liters)
      • X-small (3 to 8 liters)
      • Petite (0.9 to 2.7 liters)
    • Type
      • Cold Chain Bags/Vaccine Bags
      • Corrugated Boxes
      • Others
    • Cold Packs
    • Labels
    • Temperature-controlled Pallet Shippers
  • Materials
    • Insulating Materials
      • EPS
      • PUR
      • VIP
      • Cryogenic Tanks
      • Others (Insulating Pouches, Hard Cased Thermal Boxes, and Active Thermal Systems)
    • Refrigerants
      • Fluorocarbons
        • Inorganics
        • Ammonia
      • CO2
      • Hydrocarbons

Cold Chain Equipment Outlook (Revenue, USD Million, 2017 - 2028)

• Storage Equipment
  • On-grid
    • Walk-in Coolers
    • Walk-in Freezers
    • Ice-lined Refrigerators
    • Deep Freezers
  • Off-grid
    • Solar Chillers
    • Milk Coolers
    • Solar-powered Cold Boxes
    • Others (Solar Refrigerators and Products related to Solar Panels)
  • Transportation Equipment

Cold Chain Application Outlook (Revenue, USD Million, 2017 - 2028)

• Fruits & Vegetables
• Fruit Pulp & Concentrates
• Dairy Products
  • Milk
  • Butter
  • Cheese
  • Ice cream
• Fish, Meat, and Seafood
• Processed Food
• Pharmaceuticals
  • Vaccines
  • Blood Banking
• Bakery & Confectionary
• Others (Ready-to-Cook, Poultry)

Cold Chain Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • South Korea
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• South America
  • Brazil
• Middle East
  • UAE
  • Saudi Arabia
  • Israel
• Africa
  • South Africa
  • Nigeria
  • Egypt
  • Kenya

List of Key Players of Cold Chain Market

• Agro Merchant Group (U.S.)
• Nordic Logistics and Warehousing, LLC (U.S.)
• Preferred Freezer Services, LLC (U.S.)
• Cold Chain Technologies, Inc. (U.S.)
• Cryopack Industries, Inc. (U.S.)
• Creopack (Canada)
• Cold Box Express, Inc. (U.S.)

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.

Lactic Acid Market Get Facts About Business Strategies 2021 to 2028: Grand View Research Inc.

 Lactic Acid Market Growth & Trends

The global lactic acid market size is expected to reach USD 5.02 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.0% from 2021 to 2028. The market growth can be attributed to the increasing demand for lactic acid in various end-use industries, including industrial, food and beverages, and pharmaceuticals, especially in emerging economies such as India, China, and Indonesia. Additionally, demand for this product as a feedstock in the production of polylactic acid (PLA) is anticipated to drive the market globally.

Various raw materials used for the production of lactic acid include carbohydrates such as corn, sugarcane, sugar beet, and tapioca. A large share of this product produced globally is obtained through the fermentation process owing to its lower production costs as well as rising consumer awareness regarding sustainable and environmentally friendly products. The production process is commercially mature with a significant number of manufacturers, including Corbion, NatureWorks LLC, Galactic, and Henan Jindan Lactic Acid Technology Co., Ltd., using it.

The raw materials used for the commercial synthesis of this product include maltose or starch, lactose, sucrose, and glucose. These raw materials are derived from various feedstocks, such as barley malt, whey, molasses, and beet sugar, which are used to produce lactic acid via microbial fermentation. The cost of raw material is a key factor to be considered in the fermentation process for the commercial production of this product. They may specifically cater to application areas such as industrial, food and beverage, pharmaceuticals, personal care, chemicals, and agrochemicals.

Polylactic acid is predominantly used to manufacture microwaveable containers, including disposable cutlery and food containers. Multiple beneficial properties such as improved aesthetic appeal and resistance to grease and oil are positively influencing the demand for polylactic acid in the formulation of food packaging products across the globe, further triggering the lactic acid demand.

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Lactic Acid Market Report Highlights

• In 2020, sugarcane emerged as the dominant raw material segment with a revenue share of over 39.0% owing to its abundant availability in nature, low cost, and environmental friendliness
• Corn emerged as the second-largest raw material segment in 2020 and is projected to witness considerable growth over the forecast period owing to the rising awareness regarding sustainable products in the major application industries
• PLA emerged as the dominant application segment in 2020 in terms of both volume and revenue owing to the rising usage in the manufacturing of biodegradable and biocompatible products
• In 2020, North America emerged as the largest regional market due to the presence of major personal care and cosmetic industries in this region, especially in the U.S.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-lactic-acid-and-poly-lactic-acid-market

Lactic Acid Market Segmentation

Grand View Research has segmented the global lactic acid market on the basis of raw material, application, and region:

Lactic Acid Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Corn
• Sugarcane
• Cassava
• Other Crops

Lactic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Industrial
• Food & Beverages
• Pharmaceuticals
• Personal Care
• Polylactic Acid (PLA)
• Others

Lactic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK.
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Malaysia
  • Philippines
• Central & South America (CSA)
  • Brazil
• Middle East & Africa (MEA)

List of Key Players of Lactic Acid Market

• BASF SE
• Galactic
• Musashino Chemical (China) Co., Ltd.
• Futerro
• Corbion
• Dow
• TEIJIN LIMITED

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.

LED Lighting Market Factors Hindering The Growth Rate, Challenges and Restraints For Business Development

 LED Lighting Market Growth & Trends

The global LED lighting market size is expected to reach USD 135.58 billion by 2028, according to a new report by Grand View Research, Inc., registering a CAGR of 12.5% over the forecast period. LED lighting offers benefits, such as improved energy efficiency, low heat emission, cost-saving, directional controlled lighting, longer service life, and nanosecond switching, which have been instrumental in driving the market growth.

In addition, the flexibility of using LED lighting for complex, compact shape, and aesthetically pleasing design fixtures has led to higher adoption rates, specifically across residential and commercial spaces. LED manufacturers are incorporating features, such as occupancy sensor, daylighting (bright white-blue light), dim-ability, and timer, to attain smart lighting capabilities at affordable prices.

Moreover, favorable government policies, rebates, and retrofit programs for commercial, industrial, and residential sectors to encourage the adoption of LED lighting are driving the market growth over the forecast period. Flicker-free LED lighting was introduced to reduce power consumption, facilitate long service life, and reduce the consumption of inefficient, high-wattage light sources, such as incandescent, HID, and CFL.

The market has been transforming radically in line with the continued advancements in LED lighting and semiconductor technology as well as the growing demand for sustainable and energy-efficient solutions. The advent of connected and controlled lighting technology has boosted the demand for lamps and fixtures. For instance, the Hue Lighting by Philips is a smart home lighting system that provides an entire range of lights that can be controlled using the Hue app on smartphones.

The growing preference for smart and Wi-Fi-enabled light bulbs is expected to emerge as one of the prominent factors driving the market growth over the forecast period. The Covid-19 pandemic disrupted lifestyle and business operations worldwide. Due to the delayed construction projects, owing to a temporary shutdown, the LED lights’ purchase order, delivery timeline, and payments were delayed, resulting in low revenue generation for the manufacturers.

Moreover, the companies relying on raw material suppliers from China faced delays, which hampered the production of new LED lamps and luminaires. Hence, the global market witnessed a decline in the overall revenue in the year 2020. The market was expected to recover in 2021 with reduced Covid-19 cases; however, the pandemic's second wave for an uncertain period is likely to affect the year-on-year growth rate. However, the improved knowledge about Covid-19 and continued business functions with preventive measures seem to be favorable for increasing the product demand over the forecast period.

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LED Lighting Market Report Highlights

• The rising demand for different product types for enhancing the aesthetics in luxury hotels, office spaces, as well as residential spaces is contributing to the market growth
• The lamps segment is anticipated to register the highest CAGR over the forecast period. The residential and commercial sectors primarily drive the demand for A-type, T-type, R-type, and B- & C-shaped wall and table lamps owing to their visibly pleasing aesthetics and varied illumination capability to enhance indoor and outdoor spaces
• Asia Pacific is expected to lead the global, in terms of revenue share as well as growth rate, over the forecast period
• The growth of APAC market is credited to the presence of large-scale manufacturers hotels, malls, and other commercial spaces in countries, such as China, India, Indonesia, Japan, and Vietnam
• Most of the major players offer an array of products for residential, commercial, and industrial applications
• Vendors in this market have been relying on an inorganic growth strategy to capture higher market shares
• For instance, Signify Holdings acquired GE Lighting and Philips to extend its product portfolio and expand its geographical footprint

Access Press Release@ https://www.grandviewresearch.com/press-release/global-led-lighting-market

LED Lighting Market Segmentation

Grand View Research has segmented the global LED lighting market on the basis of product, application, end-use, and region:

LED Lighting Product Outlook (Revenue, USD Billion, 2016 - 2028)

• Lamps
  • A-Lamps
  • T-Lamps
  • Others
• Luminaires
  • Streetlights
  • Downlights
  • Troffers
  • Others

LED Lighting Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Indoor
• Outdoor

LED Lighting End-use Outlook (Revenue, USD Billion, 2016 - 2028)

• Commercial
• Residential
• Industrial
• Others

LED Lighting Regional Outlook (Revenue, USD Billion 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

List of Key Players of LED Lighting Market

• Acuity Brands Lighting, Inc.
• Cree Lighting (Ideal Industries, Inc.)
• Dialight
• Digital Lumens, Inc.
• Hubbell
• LSI Industries, Inc.
• Panasonic Corp.
• Siteco GmbH
• Signify Holding
• Zumtobel Group

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.