Global Demand for Near-infrared Spectroscopy Market to Incur Considerable Upsurge During 2023– 2030: Grand View Research Inc.

 Near-infrared Spectroscopy Market Growth & Trends

The global near-infrared spectroscopy market size is expected to reach USD 806.4 million by 2030, registering a CAGR of 5.8% over the forecast period, according to a new report by Grand View Research, Inc. The growing implementation of an analytical technique for raw materials in numerous sectors, such as oil & gas and agriculture, coupled with their increasing applications is anticipated to spur industry growth. For instance, various herbs and plants with therapeutic and medicinal properties are analyzed through near-infrared (NIR) spectroscopy to assess the bio-active components. The industry has witnessed considerable growth in 2021 and is expected to have similar developments during the forecasted period.

The demand for the products from the material science sector is a substantial contributor to the revenue. NIR spectrometry provides significant advantages as a process analytical technology over other techniques including wet chemical methods, resulting in increasing preference from manufacturers. Other determinants, such as rapid advancement in the workflows of material verification, as well as improving risk management in the supply chain by manufacturers to fulfill the GMP criteria, are also contributing to the growth. The major 20 pharmaceutical manufacturers employ portable NIR analyzers to authenticate either raw materials or finished products to comply with GMP guidelines. Similarly, regulatory bodies in Europe, North America, Africa, and Asia have purchased the product to strengthen their counterfeiting efforts.

The COVID-19 pandemic had a positive impact on the demand from pharmaceutical manufacturers. However, the disruptions in industries, such as electronics & semiconductors, food & beverages, and chemical, are projected to have an adverse impact on the growth rate. For instance, in February 2021, the U.S. government reviewed the supply chain of pharma and semiconductors to strengthen the domestic investment and process of manufacturing. The imposed lockdown norms across the globe created shortages in supplies and inflated the cost of raw materials, this affected the profitability of the players. Similarly, the capability of NIR spectroscopy to identify the polymers that are used in the packaging of pharmaceutical and nutraceutical products is anticipated to be another determinant of industry growth.

As per the Code of Federal Regulations (CFR) for the packaging of pharmaceutical products, components used to store drug products are required to be identified before the use by Quality Control. On the other hand, this industry has a considerable number of players with regional dominance. The development of rapid and cost-effective NIR spectrometry is anticipated to accelerate the level of competition in the industry. For instance, in November 2020, a group of researchers developed a handheld NIR spectroscopy for organic solvents testing. Hence, the low-cost NIR spectroscopy with high accuracy will assist players to expand their presence in low- and middle-income countries.

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Near-infrared Spectroscopy Market Report Highlights

• The Fourier Transform-based (FT-NIR) spectrometers product segment held the major revenue share owing to the high accuracy in the material testing and verification
• The particle measurement application segment had a substantial share in 2022 due to strict measures by emerging countries for dealing with counterfeited medicines
• The portable near-infrared spectroscopy type segment is anticipated to register the fastest CAGR during the forecasted period
• MicroPHAZIR RX analyzer by Thermo Fisher Scientific is one of the portable NIR spectrometry that can analyze various applications
• Europe dominated the global industry in 2022 due to the establishment of a large number of pharmaceutical manufacturers and strict regulations for quality-check as a part of GMP compliance
• Asia Pacific is estimated to grow at the fastest CAGR over the forecasted period owing to the expansion of the semiconductors industry in emerging regions, such as India

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Near-infrared Spectroscopy Market Segmentation

Grand View Research has segmented the global near-infrared Spectroscopy market based on product, type, application, and region:

NIR Spectroscopy Product Outlook (Revenue, USD Million, 2018 - 2030)

• Dispersive Infrared Spectroscopy
• Fourier Transform-Based (FT-NIR) Spectrometers

NIR Spectroscopy Type Outlook (Revenue, USD Million, 2018 - 2030)

• Benchtop
• Portable

NIR Spectroscopy Application Outlook (Revenue, USD Million, 2018 - 2030)

• Medical Applications
• Astronomical Spectroscopy
• Remote Monitoring
• Agriculture
• Particle Measurement
• Material Science
• Industrial Use

NIR Spectroscopy Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of Near-infrared Spectroscopy Market

• Thermo Fisher Scientific Inc.
• Bruker
• PerkinElmer Inc.
• Oxford Instruments
• Brainbox Ltd.
• Malvern Panalytical Ltd
• Galaxy-Scientific
• ABB
• Metrohm AG
• KPM Analytics

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.

North America In Vitro Diagnostics Market Outlook Growth Emerging Factors On Geography, Technological Advancements And Mounting Demand Forecast To 2030

 North America In Vitro Diagnostics Market Growth & Trends

The North America in vitro diagnostics market size is expected to reach USD 39.67 billion by 2030 and is expected to decline at 2.89% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. On the other hand, the market is also expected to cater to various growth opportunities in key segments. For example, the development of automated in vitro diagnostic solutions for hospitals and laboratories to provide accurate, efficient, and error-free diagnosis is anticipated to drive market growth in the coming years. In addition, rising efforts to develop POC solutions and the surge in adoption of POC tests across different medical diagnostic applications, including infectious diseases, pregnancy, cancer, and others, are fueling the market growth.

The market growth is likely to be fueled by rising efforts from leading participants to develop fast and accurate products that allow easy-to-use, advanced, and flexible testing options. For instance, in August 2022, DxGen Corp. and Precision Diabetes, Inc. announced an agreement to develop and launch a fully automatic POC analyzer in the U.S. market to measure a complete profile of diabetes tests. The analyzer is capable to test C-reactive protein, urine analysis, A1C levels, and other diabetes confirmatory tests at POC facilities.

Furthermore, in November 2021, Lumos Diagnostics, a key player in POC diagnostics, announced that its Lumos CoviDx SARS-CoV-2 Rapid Antigen Test received an interim order authorization from Health Canada. This test offers easy-to-interpret outcomes in just 15-20 minutes in serial testing of asymptomatic patients. The easy availability of point-of-care tests in home care settings, community pharmacies, retail health clinics, urgent care centers, intensive care units, and operating rooms is fueling the adoption of POC IVD products across the region.

The North America in vitro diagnostics industry is gaining traction as diagnostic laboratories frequently employ fully automated tools. Moreover, automated devices are highly scalable, meet a high level of performance expectations, eliminate batch testing, and provide quick results to medical professionals. Leading participants are continuously working on building automated devices because of these benefits. For instance, in May 2022, BD launched a new, fully automated high-throughput infectious disease molecular diagnostics platform in the U.S. market.

Furthermore, the increasing incidence of target diseases, favorable government initiatives, and the flourishing healthcare sector in the region are anticipated to offer lucrative growth opportunities.

For instance, in November 2022, Hologic, Inc. was awarded a USD 19 million contract from BARDA to support its research and development activities. In addition, in January 2022, Aline, Inc. & Nectar Product Development announced a strategic partnership to improve POC in vitro diagnostic products.

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North America In Vitro Diagnostics Market Report Highlights

• The reagents segment held the largest market share in 2022 owing to extensive R&D initiatives being undertaken by major market players for the development of novel test kits
• The molecular diagnostics segment accounted for the largest market share in 2022, thanks to rapid evolution in technology, increasing burden of target diseases, and surge in product launches by leading participants
• Based on application, the infectious disease segment dominated the market in terms of revenue share in 2022. On the other hand, the oncology segment is expected to be the fastest-growing segment over the forecast period
• The hospitals segment was the largest end-user in 2022, owing to the rising demand for affordable services, the surging trend for personalized treatments, and the presence of favorable reimbursement policies
• Canada is expected to exhibit the fastest growth over the forecast period in the region due to the increasing geriatric population, and large patient pool with a high prevalence of chronic diseases

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Global Market for Generic Pharmaceuticals to Reflect Steadfast Expansion During 2023-2030: Grand View Research Inc.

 Generic Pharmaceuticals Market Growth & Trends

The global generic pharmaceuticals market is expected to reach over USD 682.9 billion expanding at a CAGR of 8.3% from 2023 to 2030, according to a new study by Grand View Research Inc. The growth of the generic pharmaceuticals market is largely attributable to the expiry of product patents which clears the way for generic drugs and biosimilar manufacturers to launch products in the market. For instance, in July 2020, Teva Pharmaceutical Industries Ltd. entered into a joint venture with Takeda Pharmaceutical Company Limited aimed to manufacture and commercialize specialty assets, complex generic drugs, and other pipeline opportunities. This joint venture was anticipated to drive the generic pharmaceuticals market.

Furthermore, increasing government initiatives to promote generic drug products for reducing the overall healthcare expenditure on pharmaceuticals and the patent expiry of major products. For instance, the Therapeutic Goods Administration (TGA) Australia aims to offer affordable, efficient, high-quality, and accessible generic drugs to citizens for their treatment. In support of generic drugs, the TGA has been trying to reduce regulatory and reimbursement burdens such as changing the landscape of generic drugs and reducing barriers through international collaboration with manufacturers to launch their generic drugs in the market. Such initiatives of the Australian government open new avenues in the market.

In the U.S., every year millions of Americans use a generic drug for their treatment, hence, generic drugs remain the best bargain in the health care insurance programs, and given the recent enactment of healthcare reform legislation such as the introduction of the Patient Protection and Affordable Health Care Act. P.L. 111-148. Under this act, prescription drug coverage is mandated by the government as part of these new health insurance plans. The introduction of such policies may improve the quality and efficiency of healthcare, thereby, driving market growth.

The rising disease burden of infectious & non-infectious diseases coupled with the increasing geriatric population which is prone to chronic diseases such as diabetes, and hypertension, among others, may positively affect the market growth. According to an article published, in September 2022, around 17.9 million general population suffer from cardiovascular diseases (CVD) every year worldwide. Diseases including TB, diabetes, cardiovascular diseases, and HIV were among the major causes of death. The increasing incidence and prevalence of these diseases is expected to drive the market.

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Generic Pharmaceuticals Market Report Highlights

• The small molecule segment by type held the largest share of 91.2% in 2022 and the large molecule segment is expected to grow at the fastest rate. The increasing approval and uptake of biosimilarsis expected to drive the growth of the large molecule segment.
• Based on the route of administration, the injectable segment is the fastest-growing segment due to the rising approval for biosimilar drugs.
• By application, cardiovascular diseases dominated the market with a share of 18.27% in 2022, owing to the highest prescription rate of generic statins coupled with a high disease burden.
• Specialty generics are expected to grow moderately due to increasing investments and the focus of pharmaceutical companies to develop value-added products. In 2019, the U.S. FDA approved 110 complex generics.
• Based on distribution channel, the retail pharmacy segment dominated the market space in 2022. Retail pharmacy chains across the world are investing in advanced technologies and undertaking new initiatives to improve sales and attract more customers.
• North America held the majority share in 2022. Favorable government initiatives coupled with an evolving reimbursement landscape for pharmaceutical products support continual growth.

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Generic Pharmaceuticals Market Segmentation

Grand View Research has segmented the global generic pharmaceuticals market based on type, product, application, route of administration, distribution channel, and region:

Generic Pharmaceuticals Type Outlook (Revenue, USD Million, 2018 - 2030)

• Simple Generics
• Specialty Generics
• Biosimilars

Generic Pharmaceuticals Application Outlook (Revenue, USD Million, 2018 - 2030)

• Central Nervous System Disorders
• Respiratory Diseases
• Hormones & Related Diseases
• Gastrointestinal Diseases
• Cardiovascular Diseases
• Infectious Diseases
• Cancer
• Diabetes
• Others

Generic Pharmaceuticals Product Outlook (Revenue, USD Million, 2018 - 2030)

• Small Molecule
• Large Molecule

Generic Pharmaceuticals Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral
• Injectable
• Inhalable
• Others

Generic Pharmaceuticals Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Online Pharmacies
• Retail Pharmacies
• Hospital Pharmacies

Generic Pharmaceuticals Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Thailand
  • Rest of APAC
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of LATAM
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • Rest of MEA

List of Key Players In Generic Pharmaceuticals Market

• Teva Pharmaceutical Industries Ltd.
• Viatris Inc.
• Novartis AG
• Sun Pharmaceutical Industries Ltd.
• LUPIN
• AbbVie Inc. (Allergan)
• AstraZeneca
• Sawai Pharmaceutical Co., Ltd.
• Hikma Pharmaceuticals PLC
• Reddy’s Laboratories Ltd.
• Cipla Inc.
• Sanofi
• Aurobindo Pharma
• Endo International plc.

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.

Manufacturing Operations Management Software Market to Account for USD 37.94 Billion by 2030: Grand View Research Inc.

 Manufacturing Operations Management Software Market Growth & Trends

The global manufacturing operations management software market size is expected to reach USD 37.94 billion by 2030, registering a CAGR of 12.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Manufacturing operations management (MOM) software helps organizations in real-time tracking and management of manufacturing operations, maintains operational efficiency, and offers improved product quality, supporting the industry trend. Furthermore, the growing demand for digitalization in manufacturing operations is transforming the industrial landscape by improving efficiency, time to market, and maintaining flexibility in the operational process. These factors are creating a positive environment for the market’s growth during the forecast period.

The growing demand for automation and digitization in the production process along with the real-time tracking of data is increasing the demand for manufacturing operations management software. Further, leading players around the world are engaged in developing advanced MOM software to deliver required solutions to customers across different industries. For instance, In July 2021, Rockwell Automation, Inc. partnered with Kezzler AS, a firm specializing in product digitalization and traceability solutions based on cloud technology offer manufacturers in tracing the journey of their production processes from raw material sourcing to the point-of-sale and beyond. The partnership is ideal for food and beverage, consumer goods, and life-science industries looking for managing product quality, and safety to ensure customer satisfaction and fulfilling regulatory compliances. Thus, the following factor is expected to drive the manufacturing operations management software market during the forecast period.

Manufacturing Operations Management Software Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 16.25 billion
Revenue forecast in 2030	USD 37.94 billion
Growth Rate	CAGR of 12.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

The increasing use of technology such as AI, machine learning, cloud, IOT, etc., along with the integration of data and advanced analytics automatically access and produce plans and procedures for anticipated events, offers a range of scheduling options to the production planners. For instance, In June 2022, AVEVA made an addition in refinery scheduling with a unified supply chain and schedule AI assistant. By combining the power of artificial intelligence and scheduling AI assistants which will analyze scenarios and deliver optimized schedules in a limited time and save efforts in doing repetitive tasks. Thus, the growing use of technology and data in developing highly advanced manufacturing solutions is driving the growth of the market during the forecast period.

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Manufacturing Operations Management Software Market Report Highlights

• The services segment is expected to experience a considerable CAGR of 14.0% during the forecast period. Software as a service(SaaS) is a licensing model in the access to software applications is provided based on a subscription. It offers location freedom, user-friendliness, and cost-effectiveness as the user can install these applications with the use of the internet and needs only to pay for the services available within a particular period. Thus, the services segment offers higher flexibility to the users than traditional software solutions
• The cloud segment is expected to experience a considerable CAGR of 14.6% during the forecast period. Cloud deployment is the computing infrastructure owned and managed entirely by a third party. The data offered by these cloud-based servers are functionally offered on a pay-as-needed basis. Cloud deployment is cost-effective and location friendly. Organizations looking to expand their business prefer cloud-based software solutions
• The small & medium enterprise segment is expected to experience a considerable CAGR of 15.1% during the forecast period. MOM software offers small & medium enterprises the ability to meet their defined deadlines and production schedules and helps cost optimization with real-time data and insights for taking supply chain decisions. Small & medium-sized organizations aim to offer high-quality products while enduring cost-effectively to expand their business, MOM software offers advanced solutions to meet the tailored needs of customers.
• The manufacturing execution systems (MES) segment is expected to experience a considerable CAGR of 14.4% during the forecast period. MES helps monitor and execute real-time production activity. It guides supply chain management to generate feasible and integrated production plans based on the capacity and availability of materials. Thus, it helps in reducing scraps, downtime, and the cost of operations. Thus, the following factor is expected to drive the segment’s growth during the forecast period
• The automotive segment is expected to grow at the fastest CAGR of 14.6% from 2023 to 2030. MOM software helps in modernizing automotive manufacturing lines for faster production, better decisions making, and real-time insight helps in the successful launch of new models and ensures on-time production of innovative, compliant, high-quality products ensuring the growth of the following segment in the MOM software market
• The Asia Pacific region is expected to grow at a notable CAGR of 14.8% during the forecast period, owing to the rising adoption of industry 4.0 for developing smart manufacturing facilities along with the growing use of Artificial Intelligence (AI), cloud, IoT, and other advance technologies are creating a positive atmosphere for growth in the region

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Manufacturing Operations Management Software Market Segmentation

Grand View Research has segmented the global manufacturing operations management software market based on component, deployment, enterprise size, application, end-use, and region:

Manufacturing Operations Management Software Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software
• Services

Manufacturing Operations Management Software Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premise
• Cloud

Manufacturing Operations Management Software Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprise
• Small & Medium Enterprise

Manufacturing Operations Management Software Application Outlook (Revenue, USD Million, 2018 - 2030)

• Advanced Planning & Scheduling
• Manufacturing Execution Systems (MES)
• Labor Management
• Inventory Management
• Quality management
• Laboratory Management
• Others

Manufacturing Operations Management Software End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Aerospace & Defense
• Automotive
• Pharmaceuticals & Medical Equipment
• Chemicals
• Food & Beverages
• Consumer Goods
• Others

Manufacturing Operations Management Software Regional Outlook (Revenue, USD Million, 2018 - 2030)

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

List of Key Players of the Manufacturing Operations Management Software Market

• ABB Ltd.
• AVEVA Group plc
• Dassault Systèmes
• Epicor Software Corporation
• GE DIGITAL
• Honeywell International Inc
• Rockwell Automation, Inc.
• SAP SE
• Schneider Electric
• Siemens AG

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.

Short-term Vacation Rental Market Expected To Propel Industry Growth By 2030: Grand View Research Inc.

 Short-term Vacation Rental Market Growth & Trends

The global short-term vacation rental market size is expected to reach USD 256.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 11.2% from 2023 to 2030. A rise in the number of time people spent at home during the COVID-19 pandemic led to increased staycations or short-term vacations after the lifting of lockdown restrictions. This created more need for staycation places and is contributing to the growth of the market. Rising expenditure on travel and tourism, demand for eco-friendly stays, and rising per capita expenditure further bolstered market growth.

The distinction between work and fun is becoming hazier in the post-pandemic era, and the rise of the work-from-home trend has made work more flexible. This resulted in travel growth across the globe with travelers experiencing new places putting work-life balance into the form of equilibrium. Offering an attractive proposition, short-term vacation rentals can provide a great return on investment to the landlords helping them achieve larger profits as compared to traditional long-term rentals, by utilizing hosting platforms such as Booking.com and Airbnb creating better industry prospects.

Short-term Vacation Rental Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 121.42 billion
Revenue forecast in 2030	USD 256.31 billion
Growth rate	CAGR of 11.2% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

In terms of accommodation type, the home segment dominated the market and is expected to account for the largest market share over the forecast period. In general families or groups of friends traveling together aren't catered to well by the majority of hotels. Visitors can easily spend the majority of their budget before they even begin due to the cost of dining out and the necessity of reserving multiple rooms to fit everyone. Fortunately, it's simple to locate vacation houses that can accommodate any size gathering. Visitors can save a lot of cash by consuming at least a few of their meals at home, in addition to the necessities (plenty of bedrooms, toilets, and televisions).

North America held the largest market share in 2022 owing to the rise in the inclination of people in North America towards hotels & restaurants due to tourism. The North American continent, which is surrounded by oceans on all sides, is home to many breathtaking locales and landscapes, making it one of the most sought-after tourist destinations in the world. Government initiatives are expected to play a major role in the global market by making large investments in infrastructure and connectivity development, particularly in developing countries while opening a plethora of opportunities for market players to expand their portfolios and contribute to the growth.

Asia Pacific is one of the world's fastest-developing regions; the expansion of the hospitality sector has the potential to significantly boost economic growth, inter-regional collaboration, and intellectual progress. The rapid rise of SMEs, the expansion of corporate industries, and the globalization of businesses have all led to a significant increase in the aforementioned activities. Along with the increase in business travel, business travelers’ changing travel habits toward leisure travel, increased urbanization, and rising disposable incomes are important drivers that support the market's expansion.

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Short-term Vacation Rental Market Report Highlights

• The home short-term vacation rentals segment dominated the global market in 2022 and is expected to showcase exponential growth in the coming years. Vacation home rentals offer the finest of both worlds, allowing guests to unwind in the comfort and solitude of their own house while still taking advantage of the luxuries offered by a hotel; this preference favors the growth of the market
• The online/platform-based segment is expected to witness substantial growth over the forecast period. With the increasing penetration of the Internet and smartphone devices across nations, vacation rental service providers are augmenting the growth of online bookings through the rising number of monthly visitors
• North America captured the largest market share in 2022. The region's growth is mostly attributed to the region’s attraction points such as its pristine lakes, modern cityscapes, historical sites, white sand beaches, and varied climatic conditions of this region
• In June 2023, MakeMyTrip Pvt. Ltd., a leading vacation rental company opened a new franchise location in Srinagar, India. Expanding its franchise network is a part of MakeMyTrip's larger plan to service consumers in the top 100+ Indian cities

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Short-term Vacation Rental Market Segmentation

Grand View Research has segmented the global short-term vacation rental market based on accommodation type, booking mode, and region:

Short-term Vacation Rental Accommodation Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Home
• Apartments
• Resort/Condominium
• Others

Short-term Vacation Rental Booking Mode Outlook (Revenue, USD Billion, 2017 - 2030)

• Online/Platform-based
• Offline

Short-term Vacation Rental Regional Outlook (Revenue, USD Billion, 2017 - 2030)

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

List of Key Players in Short-term Vacation Rental Market

• Airbnb, Inc.
• Expedia Group, Inc.
• Booking Holdings Inc.
• Wyndham Destinations, Inc.
• Oravel Stays Private Limited
• Hotelplan Management AG
• NOVASOL A/S
• Tripadvisor, Inc.
• com PTE Ltd.
• MakeMyTrip Pvt. 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.

Glutamic Acid Market Size Projected to Rise Lucratively during 2021 to 2028: Grand View Research Inc.

 Glutamic Acid Market Growth & Trends 

The global glutamic acid market size is expected to reach USD 17.16 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.6% from 2021 to 2028. Glutamic acid is widely used in dietary supplements owing to its ability to build protein building blocks and help to detoxify the body. The market is projected to witness significant growth over the forecast period owing to the increasing global demand for animal feed, coupled with the surging use of food additives and food enhancers in the industry.

The prices of glutamic acid vary as per grade. Strong demand for the product in the animal feed and food and beverage industries has increased the price of glutamic acid. Moreover, disturbance caused by the COVID-19 pandemic in the raw material supply chain is another factor behind the increasing prices of glutamic acid. In the year 2019, Evonik Industries AG has increased the prices of its glutamic acid products at the global level by 15% due to the escalating cost of required raw materials.

Manufacturers compete based on distribution channels and strive to expand their market reach to increase their market share and bolster the annual revenue. The companies also compete on the basis of profit margins due to their high dependence on the distribution network for sales, thus leading to high entry barriers for the market. Glutamic acid manufacturers focus on improving their products and enhancing their manufacturing capabilities to distinguish their products from the products of other manufacturers in the industry and enhance their market share.

In 2020, Asia Pacific accounted for the largest revenue share of over 50.0%. The market growth is credited to the increasing purchasing power of the consumers, the growing adoption of a healthy lifestyle, and the expansion of the end-use industries, such as animal feed, pharmaceutical, cosmetics and personal care, and food and beverage. The demand for animal feed in countries such as India and China is projected to grow due to the presence of an abundant livestock population.

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Glutamic Acid Market Report Highlights

• In 2020, the food and beverages application segment held the largest revenue share of over 80.0%. The globally increasing popularity of convenience products and ready-to-drink beverages is expected to drive the demand for glutamic acid in the food and beverages application
• The pharmaceuticals segment was the second-largest application segment in 2020 and is projected to expand at the highest revenue-based CAGR of 8.0% from 2021 to 2028 owing to the application of glutamic acid in treating various diseases, such as epilepsy, muscular dystrophy, neurotransmission imbalances, and cognitive and behavioral problems
• Asia Pacific is anticipated to expand at the highest revenue-based CAGR over the forecast period. China has been the world’s largest consumer market for food and beverages over the past few years, making it highly appealing for foreign brands and players in the food and beverage industry
• North America emerged as the second-largest regional segment in 2020. The growing aging population and rising cases of non-communicable diseases, such as cancer, cardiovascular diseases, and chronic respiratory diseases, are fueling the demand for pharmaceutical products, including dietary supplements, in the region

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Glutamic Acid Market Segmentation

Grand View Research has segmented the glutamic acid market report on the basis of application and region:

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

• Food & Beverages
• Pharmaceuticals
• Animal Feed
• Others

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

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

List of Key Players of Glutamic Acid Market

• Ajinomoto Co., Inc.
• Akzo Nobel N.V.
• Evonik Industries AG
• Sichuan Tongsheng Amino acid Co., Ltd.
• KYOWA HAKKO BIO CO., LTD.
• Ottokemi
• Hefei TNJ Chemical Industry Co., Ltd.
• Suzhou Yuanfang Chemical Co., Ltd.
• Global Bio-chem Technology Group Company Limited
• Ningxia Yipin Biological Technology Co., 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 Paper Market Forecasted to Grow at Steady Pace During 2023-2030: Grand View Research Inc.

 Synthetic Paper Market Growth & Trends

The global synthetic paper market size is expected to reach USD 1.66 billion by 2030, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 5.6% from 2023 to 2030. Increasing awareness about climate change and the growing shift towards eco-friendly and recyclable packaging materials are expected to drive market growth.

The major drivers of the market growth are the global increasing demand for paper and the efforts made to decrease the dependency on plant-based paper. Its sustainable production and recyclable nature are expected to notably drive the demand for synthetic paper materials in the coming years.

The Covid-19 pandemic had disrupted the global supply chain thus severely impacting the end-use industries for the product in 2020. However, the post-pandemic era has brought in bright prospects due to a boost in the economies, which are expected to accelerate the market.

The synthetic resin, which acts as raw material for synthetic paper happens to be crude oil’s refined product. With fluctuating prices of crude oil, the demand for synthetic paper is bound to be hampered directly. Also, looking at the current geopolitical scenario, the crude oil prices seem to remain high for quite a long period, ultimately affecting the market.

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Synthetic Paper Market Report Highlights

• The BOPP product segment led the market and accounted for 57.4% of the global revenue in 2022 and is expected to witness a CAGR of 5.6% from 2023 to 2030. The major driving factor to the market growth is the growing penetration of the product in labels and printing applications
• The packaging industry in the non-labels application segment led the market and accounted for 50.8% of the global revenue in 2022. Synthetic papers are used for packaging because of their high durability and tensile strength to hold heavy items
• Healthcare sector is one of the most rapidly growing sectors globally and is expected to bolster the demand for medical tags owing to its reliable performance in conditions like tampering and extreme cryogenic temperature
• Asia Pacific is expected to grow fast at a CAGR of 6.4% over the forecast period. The region accounted for a revenue share of 36.2% in 2022. The demand in the Asia Pacific is led by the rapid growth of the pharmaceutical, printing, and packaging industries in developing economies
• Key industry participants are investing heavily in research and development activities for the cost reduction of synthetic paper, which would provide them a competitive edge in the market
• With the rise in product demand, many companies, for example, Cosmo, Fresco, Profol, Arjobex, and BF Plastic, have emerged to establish their position in the market. The companies are well established in the market and produce a wide range of products

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

Synthetic Paper Market Segmentation

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

Synthetic Paper Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• BOPP
• HDPE
• PET
• Others

Synthetic Paper Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• Label
  • Hand Tags
  • Medical Tags
  • Others
• Non-Label
  • Packaging
  • Documents
  • Others

Synthetic Paper Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

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

List of Key Players in Synthetic Paper Market

• Formosa Plastics Group
• SIHL Group
• B&F Plastics, Inc.
• Jindal Poly Films Ltd.
• Cosmo Films Ltd.
• Granwell Products, Inc.
• Transcendia, Inc.
• Valéron Strength Films
• Toyobo Co., Ltd.s
• TechNova

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.

Neodymium Market Revenue is Expected to Reach $7.30 Billion by 2030: Grand View Research Inc.

 Neodymium Market Growth & Trends

The global neodymium market size is expected to reach USD 7.30 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 15.0% from 2022 to 2030. The market is anticipated to be driven by rising demand for neodymium magnets from wind energy and electric vehicle industries.

China is the largest producer of both rare earth and permanent magnets in the world. The country accounts for over 70% of the global permanent magnet production and 60% of the global rare earth production according to the global mining data published by the USGS. The significant factor that has led to China’s dominance, especially in rare earth permanent magnet production, is the abundance of rare earth deposits in China.

Neodymium Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 4.98 billion
Revenue forecast in 2030	USD 7.30 billion
Growth Rate	CAGR of 15.0% from 2022 to 2030
Market size volume in 2022	35.4 kilotons
Volume forecast in 2030	64.6 kilotons
Growth Rate	CAGR of 7.7% from 2022 to 2030

In terms of value, magnets are anticipated to register the fastest CAGR during the forecast period. Their growing demand from electronics, wind energy, and automotive end-uses is propelling segment growth. The primary consumers of neodymium magnets include electric motor manufacturers, EV manufacturers, electronic component (sensors, microphones, earphones, HDD) manufacturers, and other magnetic assembly manufacturers. Thus, growing demand from end-use industries such as automotive and electronics is propelling segment growth.

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Wind energy is projected to provide opportunities for the market and the segment is anticipated to register a revenue-based CAGR of 15.3% during the forecast period. Its growth is attributed to the increasing shift towards renewable energy and sustainable energy practices. Wind turbine demand is expected to positively impact market growth. As per the Global Wind Energy Council, 2021 witnessed around 93 GW of installed capacity addition, an increase of 53% from 2020.

In terms of volume, North America is a significantly smaller market as compared to Asia Pacific. The lesser availability of rare earth oxides in the region makes the region import-reliant on China. The catalyst producers are the prominent consumers of neodymium in North America, which cater to the tire and oil and gas industries. The commercial uses of neodymium catalysts are limited owing to their expensive nature. They are used in refinery petroleum cracking, polymerization, and photovoltaic wastewater treatment.

Neodymium Market Report Highlights

• Based on application, magnets held the largest revenue share of over 55.0% in 2021. The growing usage of permanent magnets is propelling the market growth
• Based on end-use, the electrical and electronics segment is anticipated to register a CAGR of 14.9%, in terms of revenue, across the forecast period. The widespread application scope of neodymium in fiber optic technology, speakers, and other electronic components is boosting segment growth
• Europe held the second-largest revenue share in 2021. The rising demand for magnets in end-use industries including automotive and wind energy is anticipated to augment the market growth over the forecast period
• The favorable policies and governments’ initiatives toward economic recovery after the pandemic are anticipated to augment the demand for neodymium over the coming years. For instance, investments by the Chinese automotive manufacturer, BYD Auto Industry Co., Ltd., and Japanese automotive player, Toyota, to set up a manufacturing facility in Central and South America are expected to boost automotive production, thereby propelling the need for neodymium magnets

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

Neodymium Market Segmentation

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

Neodymium Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

• Magnets
• Catalysts
• Ceramics & Glass
• Others

Neodymium End-use Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

• Automotive
• Electrical & Electronics
• Wind Energy
• Others

Neodymium Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2030)

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

List of Key Players of the Neodymium Market

• ARAFURA RESOURCES
• China Rare Earth Holdings Limited
• Lynas Rare Earths Ltd.
• METALL RARE EARTH LIMITED
• MP MATERIALS
• Peak Rare Earths
• Rainbow Rare Earths Limited
• Texas Mineral Resources Corp.
• HEFA Rare Earth
• Greenland Minerals 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.

Global Epoxy Adhesives Market to Witness Soaring Growth During 2021 – 2028: Grand View Research Inc.

 Epoxy Adhesives Market Growth & Trends

The global epoxy adhesives market size is expected to reach USD 10.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. Increasing investments in electric vehicles (EVs) and solar and wind energy industries are the prominent factors attributed to the market growth during the projected period.

The industry is projected to experience significant growth owing to the growing emphasis on the incorporation of lightweight materials in the automotive and transportation industry. The usage of adhesives offers a reduction in the weight of the final product, which has become a crucial factor in the aerospace and automotive industries in recent years. Moreover, epoxy adhesives are used in various other industries as well, such as medical, sports tools, defense, and power and energy.

Epoxy Adhesives Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 7.2 billion
Revenue forecast in 2028	USD 10.5 billion
Growth Rate	CAGR of 5.6% from 2021 to 2028
Base year for estimation	2020
Historical data	2017 - 2019
Forecast period	2021 - 2028

A growing focus on sustainable solutions and increasing usage of mass timber in the construction industry is expected to bolster the consumption of adhesives, which is further anticipated to offer lucrative growth opportunities for the market. Furthermore, a surge in DIY home improvement activities has been witnessed during the COVID period, as people were spending more time at home. Thus, wide-scope applications in various industries make the market more lucrative.

The COVID-19 pandemic has impacted various commercial and industrial sectors, which led to a halt in new investments resulting in a downfall in global revenue. Moreover, with the continuing second and third waves of the virus, restrictions were seen in Q1 2021 as well. During the pandemic, the prices of raw materials have increased owing to a rise in logistic costs, unavailability of raw materials, and unfavorable weather conditions. It also adversely impacted the end-use industries which remained shut down during the pandemic. 

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Epoxy Adhesives Market Report Highlights

• By technology, the two component segment dominated the market and was estimated at USD 2.9 billion in 2020. The two component epoxies have excellent shear strength owing to different curing characteristics and provide an additional advantage of getting cured at room temperature, which aids to its consumption
• By application, the automotive and transportation segment dominated the market with a revenue share of over 42.0% in 2020. Growth in the EV industry and increasing consumption of adhesives over mechanical fasteners in vehicles is anticipated to boost the market growth
• The power and energy segment is anticipated to register the highest CAGR of 7.1%, in terms of revenue, during the forecast period. Adhesives are used to protect and bond sensitive mechanical and electrical components such as solar panels, charge controllers, and wind turbine blades in the energy industry
• Asia Pacific dominated the market and held the largest revenue share of over 45.0% in 2020. Increasing investments in the energy and automotive industries of the region are anticipated to further propel market growth across the forecast period

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

Epoxy Adhesives Market Segmentation

Grand View Research has segmented the global epoxy adhesives market on the basis of technology, application, and region:

Epoxy Adhesives Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• One Component
• Two Component
• Others

Epoxy Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Automotive & Transportation
• Building & Construction
• Power & Energy
• Electrical & Electronics
• Others

Epoxy Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

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

List of Key Players of Epoxy Adhesives Market

• 3M
• Ashland Global Holdings, Inc.
• Bostik
• Dow
• B. Fuller Company
• Henkel AG & Co. KGaA
• Mapei S.P.A
• Parker Hannifin Corp
• Permabond LLC
• Sika AG

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.