Research Study on Global Squalene Market Growth and Forecast to 2024 | Hexa Research
The global Squalene Market was valued at USD 112 million in 2015. It is expected to grow at a CAGR of around 10.3% and reach USD 271 million over the forecast period (2016 to 2024).
Squalene is used in a wide range of cosmetic and pharmaceutical products. It is known for its health and nutritional benefits like blood cell rejuvenation, and anti-carcinogen. The product reduces cholesterol and carcinogen levels, prevalence of cardiovascular diseases and cancer are anticipated to propel market growth till 2024.
Health controversies and strict government regulations on shark poaching are expected to curtail growth. However, advancements in the development of vegetable and synthetic sources and extraction methods can positively impact market growth. The market is split into raw materials, applications, and geographies.
Raw materials include animal, vegetable, and synthetic. Vegetable oil is naturally available organic compound found in amaranth oil, rice bran oil, olive oil, wheat germ. This segment accounted for around 46% of the overall volume share in 2015.
Animal-based squalene is extracted from shark liver. This segment was valued at over USD 46 million in 2015. Stringent rules against deep-sea shark fishing in North American and European waters can exhibit a sluggish segment growth.
Applications comprise cosmetics, food, pharmaceuticals, and others. Cosmetics held over 64% of the overall revenue in 2015. Anti-aging and rejuvenating creams contributed to the growth of this segment.
The oil is used in personal care and cosmetic products like bath oils, hair conditioners, lotions, creams, lipsticks, and sunscreens this is likely to drive the market growth in the coming years. Pharmaceuticals accounted for 7.7% of the global volume in 2015.
Regions include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Europe was held the largest market of over 36.5% of the global volume in 2015. It is expected to witness a significant growth owing to the plant-derived ingredients products.
Asia Pacific is expected to grow the fastest at around 10% CAGR till 2024. Growth can be attributed to the rising cosmetic and dietary supplement sectors.
Key global players of the squalene market are Amyris Biotechnologies, Squalan Natural Health B.V., Gracefruit Limited, Maruha Nichiro Corporation. Amyris Biotechnologies partnered with Squalan Natural Health B.V. to create a new personal care product called NeossanceSqualane.
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Global Acetone Market Will Reach USD 22.10 Billion By 2024 | Hexa Research
The Global Acetone Market size was USD 5.75 billion in 2016. Acetone is used as a solvent in adhesives, nail polish remover, paints & coatings, and other skin care products. It is also used in the manufacturing of Methyl Methacrylate &Bisphenol-A.
Polycarbonate plastic is derived from Bisphenol-A. An increasing use of polycarbonate in the automotive industry is one of the key growth factor for the acetone market. Polycarbonate is increasingly used as a substitute for metal and glass in automotive industry.
Automotive manufacturers are increasingly using polycarbonate for lighting applications, such as light housing, headlamp lenses, bezels that require transparency, high temperature resistance, it also offers better functional integration and designing freedom to vendors. An increasing demand for light vehicles with improved fuel efficiency is driving the manufacturers to depend on polycarbonate that helps to reduce the weight of the vehicles.
Increasing demand of methyl methacrylate to produce polymethyl methacrylate resins used in electronics and automotive industry is a key factor for growth of the acetone market. Keeping these driving factors in mind companies are increasing their production capacity in order to meet the global demand. For instance, Vadodara-based chemical manufacturer Deepak Nitrite Limited is expected to invest INR 1,200 crores to set up a phenol and acetone plant at Dahej in Bharuch district of Gujarat to cater the increasing demand for acetone in the region.
In 2016, Asia Pacific was largest revenue generating owing to the development of automotive and electronics industries. Furthermore, growing pharmaceutical sector in China and India is expected to propel the demand for acetone. An increasing demand for bio based acetone and strict government regulations is expected to slow the market growth of acetone. Moreover, contact with acetone is dangerous for health and can cause intoxication, dizziness, nausea, unconsciousness which in turn may hamper the market growth.
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Global Digital Camera Market Size, Application Analysis and Regional Outlook Report | Hexa Research
The Global Digital Camera Market is expected to reach USD 28.71 billion by 2025, influenced by a range of radically evolving trends regarding picture quality, lenses, zooming, photo accessories, and other features. An introduction of digital action camera with 4K and improved 360° video capturing are expected to boost the global market. For instance, in 2016, Nikon launched 4K, 360-degree action camera to enter in action segment market. It is wearable action digicam, capable of filming a 306-degree video with the 4K high definition.
Reducing prices of digital cameras has also had a positive influence on the purchasing decisions of consumers. Availability of a range of cameras suitable for enthusiasts and professionals is expected to drive the market growth. The global market is presumed to grow at a revenue CAGR of 3.3% over the forecast period.
Asia Pacific dominated the global market in 2016, and the trend is expected to continue over the forecast period on account of an increasing consumer base, particularly in India. Rising disposable income of consumers, especially in India, and Thailand along with growing number of individuals that want to pursue their hobby of photography is expected to drive the sales of digital cameras and related accessories.
The global tourism market size was estimated over USD 7.5 trillion in 2016 and is projected to increase at a CAGR of over 3% over the next eight years. As consumers prefer digital cameras over smartphones while traveling and during holidays owing to its ability to provide high pixel photos, the growth of the tourism industry is expected to augment the demand for digital devices over the projected period.
In 2016, personal user segment dominates the market, accounting 54.4% of market share in terms of volume. Cameras such as compact ones are mostly utilized for personal use. An increase in tourism is likely to be a key factor driving the personal use segment.
Manufacturers have been focusing on adding improved features for connectivity to gain market share. For instance, In February 2017, Kodak launched a winning photos application, which will help photographers to showcase their pictures. In February 2016, GoPro acquired Vemory Inc. to enhance its video editing tools.
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Cellulose Acetate Market is Expected to Grow due to the Development in Global Cigarette Production | Hexa Research
27 February 2019, The global Cellulose Acetate Market to reach 820.04 thousand tons by 2024, driven by the increasing consumption of cigarettes in developing nations and growth in the textile industry. Cellulose acetate tow is used as a filter in the cigarette buds. Cigarette filters are used to cut down the overall tar and nicotine content during cigarette consumption.
Growing use of cellulose acetate tow in the cigarettes is anticipated to boost the market for cellulose acetate. Asia Pacific dominated the global cellulose acetate market in 2016 with the market share of 51.79% and is expected to maintain its dominance over the forecast period. The region is projected to continue its dominance due to the prevailing cigarette consumption rate in countries such as Indonesia and China. Rising awareness about the ill effects of smoking and relative growth in electronic cigarette market is projected to slow the demand for cellulose acetate tow in North America and Europe.
Cellulose acetate is used in many applications such as textile & apparel, cigarette filters, tapes and labels, photographic films, extrusion &molding. Cigarette filter is the largest application by segment accounting for around 80% of the market in 2016. Cigarette filter segment is expected to dominate the market over the forecast period owing to increasing demand for low tar filters worldwide. The textile industry uses this filament in the manufacturing of garments. The textile & apparel application segment is estimated to grow because of the strong growth of textile industry in developing nations such as China and India. Cellulose acetate is also used in making protection films which are utilized in liquid crystal displays, spectacle frames, and plastic handles. It has become popular as an eco-friendly plastic which is not harmful to skin and health. Biodegradable and renewable nature of cellulose acetate is anticipated to boost the demand over the forecast period.
Active companies in the market are adopting the strategy of merger & acquisition. For instance, in 2016, Solvay signed a definitive agreement to acquire Eastman’s stake in their joint venture – Primester – and becoming its sole owner.
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Global Butane Market, Size, Share, Growth, Demand and Forecast to 2024 | Hexa Research
21 February 2019, The Global Butane Market stood at approximately USD 60 billion in 2015. In volume terms, global demand was nearly 138.22 million tons during the same year. This market is anticipated to expand at more than 2.7% CAGR during the forecast period (2016 to 2024).
An easily liquefiable gas, butane is highly flammable, colorless gas, and odorless. It is a byproduct that is obtained during the refining process of crude oil. Crude oil that is extracted from the reservoirs is transported to the refineries that derive products, such as jet fuel, diesel, and even gasoline. It is known as normal or n-butane when the carbon atoms are lined in a straight chain. However, when they are branched, the gas is called isobutane. N-butane is blended with gasoline to increase its volatility.
Robust demand for Liquid Petroleum Gas (LPG) may favorably impact the industry. Higher standards of living and rising disposable incomes can impel the market till 2024. Most of the butane manufactured globally is used in LPG. When mixed with propane in a certain ratio, butane is often referred to as LPG.
Governments across Asia Pacific & Africa encourage the use of LPG. This is done in order to reduce carbon footprints and also to control the emission of CO2. LPG emits close to 33% lesser CO2 when compared with coal. It is used primarily in residential, commercial, and agricultural applications. It also finds use in automotives.
A major problem facing the global butane market is the issue of ground water contamination. This is due to the leakage of methyl tert-butyl ether (MTBE) that over a period of time affects ground water. Rising health hazards because of inhalation of butane has led to the application of rigid regulations in the global market.
The global butane market is categorized into applications and regions. Based on applications, the market is divided into refineries, petrochemicals, LPG, and others. Chemical & petrochemical, residential & commercial, auto-fuel, refinery, industrial, and others are the sub-segments of ‘LPG’. With market shares exceeding 66.6%, LPG led the industry in 2015.
Ongoing industry trends suggest that residential or commercial applications may capture more than 50% of the overall market by 2025. Isobutane can replace hazardous chlorofluorocarbons (CFC) that are used extensively in products, like propellants, deodorants, and refrigerants.
The petrochemicals segment is anticipated to register the highest growth rate during the forecast period. Automobile fuel may exhibit substantial growth because of strict emission norms and the widespread adoption of eco-friendly vehicles.
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China Bioprocess Instruments Market Size, Share, Growth, Analysis and Forecast to 2024
16 January 2019 , The China Bioprocess Instruments Market is expected to reach USD 3.06 billion by 2024 owing to the improving economy, rising aging population and increasing prevalence of chronic diseases. Moreover, increasing demand for single-use instruments in disposable applications is anticipated to augment the growth over the projected period.
China was the second largest pharmaceutical market in the world, expected to grow USD 173 billion by 2024, growing at a CAGR of 9.1% owing to the requirement of medication & drugs to cure deadly diseases. Huge investment in biotechnology will primarily drive the growth of the market, as pharma companies deal in innovations for developing medicines and drugs in line with the increasing prevalence of diseases.
With the patents of numerous biopharmaceutical products expiring by 2016, the market is anticipated to provide a lucrative opportunity for contract manufacturers operating in the region. Approval of the trail plan for new drug marketing authorization holder (MAH) in 2016 to produce, conduct clinical trials, and market the products is expected to provide an impetus to the growth of the industry over the next few years.
Increasing demand for bioprocess instruments in the pharmaceutical, research & development, industrial and medical laboratories coupled with the increasing number of these facilities is expected to result in the growth of the market. Change in lifestyle & food consuming habits, and growing levels of air & water pollution have led to increasing occurrence of disease including obesity which has resulted in a rising number of patients diagnosed with cancer, heart disease, diabetes and other chronic conditions. Thus, the healthcare sector is anticipated to create demand for treatment and laboratory services, which will result in the growth of bioprocess instruments market over the forecast period.
Stringent regulatory policies and the high cost of instruments are likely to restrain the bioprocess instruments market in China. The government has been focusing on reducing the fragmentation in the industry by consolidating manufacturers that lack standards in production with larger companies. This move will help in preventing the quality risks and sub-par manufacturers entering the market. Shortage of skilled labor is another challenge in the growth of bioprocessing industry.
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Automated Fare Collection (AFC) Market Size, Share Report, 2024 | Hexa Research
11 January 2019, The Automated Fare Collection Market is anticipated to be valued beyond USD 8.5 billion by 2024. Automated fare collection systems are the combined modules, which facilitate the automated ticketing system for public transportation network. They offer a constant and incorporated platform for all the actions concerned with the fare gathering with equipment such as ticket checking machine, ticket vending machine, and automatic gate machine.
These systems are chiefly used in a several high transit areas counting huge commercial workplaces, government buildings, and public transport ports. The increasing demand for proficient, automated, and tranquil transportation is spurring the requirement for automated fare collection systems.
The escalating focus on improving the transport infrastructure, safety measures, and simplicity for the purchaser is likely to stimulate the industry growth in the near future. However smooth revenue collection and initial high cost of setting up can influence the automated fare collection systems, thereby, propelling the overall market demand during the forecast period (2016-2024).
The global market can be segmented by technologies, components, systems, system components, and regions. Technologies are magnetic strip, smart Card, NFC, and OCR. Components consist of hardware software. Systems include fare gates, ticket vending machine, ticket office machine, and IC cards. Market systems components are ticket vending machine by component, ticket office machine by component, fare gates by component, and IC cards by components.
Key regional segments in the market comprise North America, Europe, Asia-Pacific, the Middle East & Africa (MEA), and Latin America. Europe dominates the total AFC market and is strongly followed by the North American market due to a developed transportation communications.
The overall automated fare collection market is extremely competitive in nature. The key manufacturers are NXP Semiconductor, Omron Corporation Thales Group, LG Corporation, Advance Cards Systems, Fare Logistics, and Samsung SDS.
Strategic mergers & acquisitions and partnerships and are projected to be the most successful strategies for market players to acquire a competitive benefit in the promising markets. Also, this will potentially augment their technological capability. There has been a novel trend of partnerships among the transit service suppliers and product makers for the integration and interoperability of systems.
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