Immersion Cooling Market To Propel at a Rate of About 25% by 2030

The total revenue of the immersion cooling market was about $259 million in 2021, and it will grow at a mammoth rate of around 25% by the end of this decade, to reach over $1,855 million by 2030. The increase in the count of data centers, producing large amounts of data, and the rapid use of cloud services are the main factors driving the growth of the market.

The single-phase category had a larger share, of approximately 70% revenue in the immersion cooling market in 2021. This is credited to the numerous benefits presented to users by this technique. For example, single-phase immersion cooling systems are energy efficient, simpler to function, lucrative, have low costs of maintenance, and coolant life of 1.5 decades. Consequently, the requirement for these systems in data centers is considerably higher, this is the reason that this category is the market leader.

The immersion cooling market of North America has the largest revenue share, with approximately 40% in 2021. This is credited to the considerable investment in R&D, which is leading to the growth of next-gen facilities that are more competent and technologically innovative regarding power management. There are also numerous developers of data centers, which will have a positive impact on the market growth.

APAC immersion cooling market will grow at the fastest rate, proceeding at a growth rate of above 25%, in the coming years, as a result of the wide acceptance of edge-computing technologies in various nations like the Peoples Republic, Japan, and India. Furthermore, the increasing manufacturing and finance industries will further drive the requirement for data centers, requiring more cooling. Furthermore, advancing blockchain and crypto mining also support the demand for immersion cooling in the region.

There is an increasing number of data centers, and also because of the generation of massive amounts of data, there is a huge need for immersion cooling.

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How Does Strict Government Regulations for Fire Safety Propel Flame Retardants Market?

In 2021, the flame retardants market generated $7,565.1 million, progressing at a 5.3% rate from 2021 to 2030, to hit the $12,028.4 million revenue in 2030, owing to technological advancements, rising research & development activities, and expanding end-use industries. In addition, the increased strictness of regulations on fire safety in various countries boosts the market. 

Moreover, the non-halogenated flame retardants hold a substantial share of the flame retardants market, and it is expected to rise by 5% in the near future, as these chemicals possess smoke suppression, thermodynamic characteristics, along with exceptional flame retardancy, resulting in their increased preference for anti-fire applications across industries. 

The electrical and electronics industry is projected to experience the fastest growth in the flame retardants market, at an approx. 6% rate in the coming years. It is due to the rise in the plastics used in electronic components production and the increase in insulation consumption of products to minimize fire risk and increase consumer safety. In addition, the wide application of flame retardants in the electronics and electronics industry facilitates increased resistance to external and internal heat resources, more specifically to electric cables and wires.

APAC captures extensive flame retardants market share, accounting for 50%, and it is predicted to generate significant revenue in the near future, attributed to the rapid expansion of the manufacturing sector and rising infrastructure development activities. Moreover, APAC contributes massively to electronics production, accounting for 70% to 75% of the global production of electronics. China, Japan, and South Korea manufacture various electrical components and supply them worldwide across industries.

Therefore, the rigid government regulations on fire safety propel the market, along with the expansion of the construction sector.

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Why APAC Will Lead Glycolic Acid Market in Coming Years?

The amazing anti-aging chemical glycolic acid seems to do everything. It works wonders to exfoliate the face, diminish fine wrinkles, prevent acne, lighten dark spots, thicken the skin, and level out texture of the skin. In 2021, the global glycolic acid market was worth around $309.3 million value, which is predicted to touch $604.4 million by 2030, advancing at a 7.7% CAGR from 2021 to 2030.

Glycolic acid is a key component in skin care products but is also widely utilized in the electronics, oil and gas, and dyeing and tanning sectors. Boiler cleaners, concrete removers, and dairy farm tank cleaners have all made use of it. This is due to its primary traits, which include its small size, affinity for chelating calcium, powerful acidic property, and natural biodegradability.

The glycolic acid market in APAC is expected to increase at an average annual rate of 8.1% in the coming years. This can be due to the region's rapidly increasing need for cosmetics. The growing number of working women, a change in their lifestyle, and a rise in self-awareness are all contributing to an increase in the need for personal care products. Additionally, professional women view skincare products as a need that gives them self-assurance in their looks. The majority of cosmetic users are women between the ages of 20 and 40.

According to the data, in the past, the personal care & cosmetics segment held the biggest share in the glycolic acid market, at 58.2% in the past years. This is because of the various application of glycolic acid in cosmetics and skincare products such as moisturizers, anti-aging creams, toners, wrinkle-removal treatments, and other hair care items.

Additionally, the need for skincare products is boosting the requirement for glycolic acid as a result of the rising disposable income, growing awareness of personal hygiene, and increasing desire among people to improve their appearance.

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How Does Rise in Disposable Income Leads to Green & Bio-Solvents Market Proliferation?

In 2021, the green & bio-solvents market stood at $3,128.5 million, and it is expected to generate $5,322.2 million in revenue by 2030, progressing at a rate of 6.1% CAGR, ascribed to the expansion of the industry due to rising health & environmental concerns of synthetic solvents. Moreover, the paints & coatings category generates revenue worth over $1 billion, due to the economic surge and population growth, resulting in the expansion of the automotive and construction industries. Both the industries are major consumers of paints & coatings. It is expected to experience snowballing demand for eco-friendly solvents in the near future.

The next-largest green & bio-solvents market share is acquired by adhesives, attributed to the growing requirement for the eco-friendly adhesives solution in both automotive and construction industries. Moreover, the population explosion in developing countries such as India & China leads to the advancement of major industries such as automotive, building & construction, and furniture resulting in an increased demand for bio-solvents.

The growing use of chemicals worldwide resulted in governments imposing multiple regulations to reduce the technologies used for paints and coatings manufacturing, resulting in the green & bio-solvents market propulsion. Synthetic solvents pose a great threat to the workers of factories. It includes various health risks such as eyes, nose, and skin irritation. Moreover, conventional solvents cause volatile organic compound emissions to the environment. Therefore, regulatory authorities are focusing on curbing the manufacturing of these solvents by controlling technologies used in their production. Companies are also investing to improve their production processes and hence reduce toxic emissions. 

North America captures significant green & big-solvents market share, and it is expected to garner $2.0 billion in revenue by 2030, advancing at a rate of 6% during the forecast period 2021-2030, attributed to the dominance of the market players in the region such as Cargill Incorporated, and Dow Chemical Co., and Gevo Inc., that have developed capabilities for eco-friendly and cost-effective solvents with their advanced product research. 

Thus, the demand for green & bio-solvents is rising to minimize the VOC emission to the environment caused by conventional solvents. 

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How Does Increase in the Requirement to Reduce Dependency on Fossil Fuels Impact Phase Change Materials Market?

In 2021, the phase change materials market amassed revenue of $1,775.5 million, and it is set to progress at a rate of 16.8% from 2021 to 2030, to reach $7,206.2 million by 2030. This is owed to the expansion of construction and packaging industries with a rising focus on green buildings. Moreover, 50% of the world’s energy demand is driven by heating usage and more than 60% of that demand is dispersed as waste heat. It results in global climate change, with increased chances for improvements by saving waste heat for further use. The increased requirement to reduce the dependency on fossil fuels in order to conserve energy and minimize GHG emissions has resulted in the development of phase change materials.

The rise in the construction of green buildings in China has led to a surge in demand for PCMs. The construction industry of the country has experienced bolstered growth in recent years surpassing the 5-billion-m2 completed floor area of buildings annually. In addition, it has emerged as the largest contributor to the GDP of China, outgrowing other industrial sectors.

The building and construction category holds the most-significant phase change materials market share, of 35%, and it is expected to advance at a rate of 16% in the coming years. Due to the rise in the demand for low heating and cooling loads for residential buildings, the building envelope technologies have shown steady improvements. The large energy savings are experienced by the increased adoption of innovative building materials with active thermal components. 

In addition, Europe holds the greatest share of the phase change materials market, accounting for 40%, attributed to the inclination toward eco-friendly products, resulting in the proliferation of the PCM industry. Moreover, there are various initiatives taken by the European regulatory associations, to encourage the efficient building of mechanical solutions and increase the awareness of PCM applications that have caused a market boost. 

Therefore, the surge in green buildings and increased awareness of the environment resulting in reduced GHG emissions propel the market.

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Silicone Elastomers Market to Reach a Value of Around $16,425 Million by 2030

The size of the silicone elastomers market at a projected $8,3445 million in 2021, which will advance at a growth rate of almost 8% in the near future, to reach about $16,425 million by 2030. The industry is driven by the high requirement for silicone elastomers in the electrical & electronics sector, their better properties, and an elderly population, which is powering product requirements in the healthcare sector.

In 2021, construction had the largest share, at 42%, and it will maintain this position in the years to come. Silicone elastomers play an indispensable role in a diversity of building materials and equipment, like assembled building elements. Since the emphasis on enhanced construction eminence is rising, the competition is increasing in a more and more price-sensitive market. Concurrently, building companies must keep to the ever-stricter construction quality guidelines.

The silicone elastomers market is likewise driven by the high demand for these materials from the electronics and electrical industry. A diversity of grades is offered to offer flame retardation, heat resistance, low volatility for delicate components, protection from moisture, as well as adhesion to the variability of surfaces.

The Europe silicone elastomers market region held the largest share at around 35%, in 2021. The trend of plummeting the weight of the vehicles mainly driving the market. Silicone elastomers have the capability to supplement metals and other materials in vehicles, thus lowering their weight and improving fuel efficacy, and, eventually, lowering the emission of numerous pollutants, primarily CO2. Silicones retain their properties and, more importantly, guarantee that vehicles, aircraft, ships, and trains run efficiently and safely for long.

The increasing demand for elastomers is increasing in different industries, and other than that, there are various technological advancements as well.

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Why Will North America Dominate SOC as a Service Market?

 The major factor driving the global SOC as a service market is the rising count of cyberattacks and security threats. In 2021, the market stood at $4.4 billion, which is predicted to reach $11.8 billion by the end of this decade. In addition, the market will witness an 11.6% CAGR from 2021 to 2030. Furthermore, at least a 50% annual hike is observed in cyberattacks all around the world. Moreover, the market growth is owing to the work-from-home and BYOD trends, which is why the outbreak of COVID-19 had resulted in an increasing inclination toward SOCaaS solutions.

Within the type segment, the detection service category generated the highest revenue in 2021, accounting for an about 37% market share, and it will continue to show this trend during this decade. This can be attributed to the surging integration of digital technologies in all industries. Moreover, because people are sharing massive amounts of data and depending increasingly on digital information than ever before, the incidence of targeted attacks is increasing globally. To deal with this situation, the requirement for fraud detection solutions among several corporations is on the surge. 

SOC as a Service Market Size & Share Analysis Forecast, 2030

The SOC as a service market can be bifurcated into SMEs and large enterprises. The latter category comprises multinational enterprises, which are continuously developing and implementing the latest technologies to deal with all types of cyberattack, by detecting, preventing, and responding to it. Furthermore, there is a rising adoption of SOCaaS solutions by MNCs to enhance the security of financial resources, because they have numerous revenue streams and intricate corporate networks. Therefore, this category dominates the enterprise size segment of the industry.

In 2021, the BFSI sector ruled the SOC as a service market with at least 45% revenue, on account of being prone to cyberattacks because all it deals with is money, shares, and financial bonds. Furthermore, the BFSI is the target of at least 70% of the cyberattacks very year. Moreover, the count of breached bank accounts will surge to over 30 billion by 2030. Moreover, BFSI corporations are the most attractive of all kinds of companies for cybercriminals, losing about $6 million for every data breach on average.

The healthcare category, in the vertical segment of the SOC as a service market, is predicted to potentially grow in the coming years. This can be ascribed to the data records of healthcare organizations, which encompass every patient’s PII PCI data for billing purposes. Hence, there is a dire need to execute the security operation center as a service in this sector. Furthermore, unencrypted PII PCI data is transferred within laboratories, clinics, and hospitals, putting people’s lives in danger.

In 2021, North America dominated the SOC as a service market, generating approximately 40% of the global revenue, because it is home to the highest count of security operation centers as a service vendors on this planet. This is because of the unending number of cyberattacks and data breaches in this region. Moreover, the skyrocketing demand for cloud-based platforms, technologies, and apps will create a demand for stronger security solutions, because the data of corporations and customers, including information related on payments, is on these platforms and apps.

Hence, the rising concerns about data security among individuals and corporations will pave the way for market growth.

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