APAC Is Dominating Polyisobutylene Market

The global polyisobutylene market was valued at USD 1,995.3 million in 2022, and this number is projected to reach USD 2,980.6 million by 2030, advancing at a CAGR of 5.1% during 2022–2030, according to P&S Intelligence.

This growth can be ascribed to its variety of applications, such as automotive rubber components adhesives & sealants, lubricant additives, fuel additives, medicine, and cosmetics. Polyisobutylene is a gas or liquid-resistant synthetic rubber/elastomer extracted from the mixture of isobutylene and isoprene.

High-molecular-weight PIB is utilized in a range of industrial applications, including lubricants, fuel, and additives, sealants for protecting glass and roofing membranes, glues for gum, and stretch films.

Lubricant additives are the most commonly used for this polymer, in 2022, fuel additives, generated approximately USD 1.2 billion in revenue share in the polyisobutylene market. PIB is utilized in producing tackifiers, which offer stringiness and tack to lubricants, while also providing adherence and anti-mist abilities.

In 2022, in APAC, China held the largest revenue share, at around 70%, and is projected to increase the revenue contribution at a substantial CAGR, of approximately 6%, in the coming few years.

This is mainly due to the government’s steps for infrastructure growth are expected to aid financial expansion and the cosmetics, construction, and automobile industries. Though these are not long-term predictions, growth in the manufacturing industry is predicted to remain reasonable, which will have an impact on polyisobutylene demand in the nation in the coming few years.

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How Growing Cases of Neurological Disorders Enhancing Demand for Brain Modalities and Software?

By 2030, the brain modalities and software market is on the path to produce $23,195.6 million from $13,343.3 million in 2021, growing at a 5.2% CAGR between 2021 and 2030. This is because of the increasing patient importance on effective and early disease diagnosis, growing cases of neurological ailments, and the surging need for safer and non-invasive medical imaging. For example, Alzheimer's Disease International estimates that 55 million individuals worldwide will have dementia by 2020. Furthermore, this number is predicted to rise to 78 million and 139 million by 2030 and 2050, respectively.

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As the number of persons with non-communicable neurological illnesses increase, so does the amount spent on such treatment. Moreover, governments will confront a rising need for rehabilitation, support services, and neurological disorder treatment as the population increases. This is owing to the cases of significant debilitating neurological illnesses increases dramatically as people become older. Because most neurological disorders have few identifiable causes, more study is needed to create diagnostic, treatment, and preventative measures.

In the worldwide brain modalities and software market, the diagnostic imaging centers segment will increase at a CAGR of roughly 7% in the coming years. This is because, as compared to clinics, hospitals, and other facilities, diagnostic imaging centers provide more economical brain monitoring and imaging services. Shorter wait periods and more customized treatment are further benefits of approaching a standalone diagnostic clinic.

AI is progressively used to enhance diagnostic accurateness and image quality. Moreover, image excellence enhancement, ailment classification automation, and segmentation are all instances of AI advancements in imaging. Thus, advance AI technologies are available to support neurosurgeons in making treatment decisions and analyzing images. AI has evolved in popularity over the years, and now it is being used in brain scans to improve image quality, limit the period a patient spends inside an image scanner, and enhance decision-making of physician and clinical analysis. 

APAC brain modalities and software market is the fastest growing region, which will to grow at a 7% CAGR in the coming years. Growing healthcare spending, the presence of a huge count of market players, increasing awareness of initial illness diagnosis through the use of sophisticated diagnostic imaging technologies, as well as the increasing incidence of brain ailments are boosting market in the area. The Radiology Asia 2019 conference, for example, was held in April 2019 in Singapore.

The use of neuroimaging methods such as PET–CT, CT, MRI, PET–MRI, and PET for detecting disorders linked to abnormalities and tumors has accepted over the years. Brain imaging methods are required at all phases of the process, from diagnosis via follow-ups until the end of the treatment cycle. These brain diagnostic devices are used for a variety of purposes, including determining the effects of cysts and tumors, stroke, and detecting edema and bleeding.

Hence, the demand for brain modalities and software will grow significantly, due to increasing patient emphasis on early and effective disease diagnosis.

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Gamification Market IS Dominated by North America

A market research firm, P&S Intelligence, the value of the gamification market was USD 12.4 billion in 2022, and it will power at a brisk rate of 24.2% in the years to come, for reaching USD 70.4 billion by 2030.

The growth of the industry has a lot to do with the rapid acceptance in the corporate sector, incorporation of social media with games, and increasing requirement for enhancing the customer experience.

Enterprise-driven solutions have the larger share, about 55%, credited to the increasing requirement for gamification solutions amongst enterprises for keeping employees in good spirits at work, through the integration of gaming elements in the activities of workforce engagements.

Gamification Market Size and Share Analysis Report

Likewise, the requirement for consumer-driven solutions will grow by the end of this decade because of their growing acceptance by companies for improved customer engagement, eventually, for achieving improved brand loyalty.

Cloud deployment will register the higher rate, over 20%, because of the high acceptance of the cloud computing technology amongst organizations on account of the increasing requirement for configurable gamification platforms, for maximizing ROI.

Furthermore, the increasing pace of progressions in the cloud technology and its exclusive features, including easy setting up and maintenance, are powering the growth . The low cost of implementation of cloud-based solutions will also boost industry growth in the years to come.

The marketing category had the largest share, because of the growing emphasis of companies on improving methods of data collection for strategic planning, improving engagement of consumers with the brand, for encouraging a repetitive buying behavior, and rising awareness of the brand.

The use of gamification for marketing can allow effective long-term engagement, relationship management, and communication with targeted clienteles. 

With such strategies, customers are given specified tasks, and after the completion of these, rewards are given. The rewards can be loyalty cards, memberships, and redeemable points. These marketing efforts can help in the formulation of a incessant relationship with customers, something firms across industries wish and pursue.

The retail and e-commerce sector adopting gamification solutions at pace for improved customer engagement and, eventually, augmented product sales and enhanced brand loyalty. Also, retailers use these solutions for gathering insights, of the customers which they examine for understanding their requirements and preferences.

Also, the gamification market will grow the fastest in the media and entertainment category in the future. This is mostly credited to the increasing emphasis of companies on improving the user engagement with the product.

North America has the largest share, over 40%, credited to the growing IT spending, increasing count of startups, early implementation of cutting-edge technologies for marketing applications, product development, increasing requirement for AI–based personalized gamification solutions, and increasing emphasis of companies for enhancing employee performance and engagement of customers.

It is because of the rapid acceptance of gamification in the corporate sector, the demand for the same will increase rapidly in the future.

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How Increasing Aging Population is Helping the Growth of the Biologics CDMO Industry?

The biologics CDMO market revenue was projected at $13,173.7 million in the year 2021. This is likely to rise to $31,839.7 million by 2030, at a compound annual growth rate of 10.3% from 2021 to 2030. This can be credited to the increasing need for medicines, growing aging population, heavy funding for healthcare infrastructure, and the introduction of new products. Essentially, because of the increasing occurrence of communicable diseases and high requirement for new therapeutics, pharma and biotech establishments that require to invest higher investments in innovative technologies are evolving partnerships with CDMOs.

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Drug substances had the largest share of revenue, over 50.0%, in the year 2021 in the biologics CDMO market, and this will continue in the future as well. This will be because of a rise in biologics sanctions, predominantly by the FDA, along with the durable clinical pipelines and dipping biologic drug growth failure rates. Most of the subcontracting value from the production of drugs comes from the sub-segment of monoclonal antibody.

The mammalian cell line category will contribute a value of $17,983 million in the year 2030 to the biologics CDMO market, progressing with a growth rate of more than 10.0%, based on cell line type As more-complex biologics, for example, antibody-drug conjugates and bi- and tri-specific antibodies, are advanced, this will grow.  Due to their efficiency in nursing many ailments, like cancer, mAbs, and their synthetic counterparts have got large investments. mAbs have conventionally been advanced from mammalian cells for nursing these kinds of ailments.

As per the EFPIA, the pharmaceutical sector funded $46,144 million in the year 2020 in Europe for R&D and the introduction of new medicines. The growing need for pharmaceutical drugs and biologics, along with the progressive production necessities, have encouraged CDMOs to engross in R&D. Furthermore, R&D aids the progress and testing of new therapies, expansion of product portfolio, and clinical testing for security and promotion. Hence, the growing funding for research and development of products will drive the biologics CDMO market growth.

In an evolving industry, APAC entices the consideration of the concerned organizations.  It has the largest and fastest-growing biologics CDMO market, with a growth rate of more than 10% in the coming years. This is because of a rapidly growing population, which is requiring enhanced access to drugs. Also, the market growth is pushed, by the growing affordability of pharmaceuticals because of the advent of low-cost generic medicine. Moreover, a rise in GDP, government healthcare agendas, and an increase in urbanization, which have extended the access to medics and pharmacies for substantial portions of the populace, are helping in making CDMOs affluent.

India is a good prospect for the CDMO market having received FDA approval for a number of drugs and has an extremely skilled workforce. As healthcare infrastructure advances in developing countries and with the increasing volume of generic producers in India, there is going to be a vast increase in the number of local CDMOs businesses, as the country can handle a vast number of products more lucratively. Basically, the market growth is supported by the development of healthcare.

The global market is on the rise with an increase in the aging population around the world.

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Green Technology and Sustainability Market IS Led by North America

 The size of the green technology and sustainability market was USD 19,499.6 million in 2022, and it will power at a CAGR of 10.7% by the end of this decade, to reach USD 43,453.9 million by 2030, as per a research report by P&S Intelligence.

The increase in requirement for IoT, 5G, and AR and VR will accelerate the requirement for low-latency computing and edge data centers. Devices, including smartphones, which are more and more equipped with ML accelerators, will intensify the use of ML, which would bring about greater data center use in the near future.

Green Technology and Sustainability Market Size and Share Analysis Report

So, ICT companies are investing considerably in captive renewable power projects, for supporting a sustainable environment, protect themselves from power price instability, and advance their brand reputation in the market. There was a considerable increase in the amount of PPAs, of 65.13%, in 2021 in the ICT sector which, in line, establishes the high acceptance of sustainable power resources by the foremost technology and software firms from 2019.

IoT will rule the industry and also grow the fastest during the forecast period. On account of the growing concerns over the health and environmental issues brought on by the increasing carbon emissions, IoT acceptance is growing at pace. 

For plummeting energy wastage and making it likely to gather energy data, this technology is being put to use in many applications, for instance power grids and utility meters, factories, homes, office buildings, city administrations, hospitals, and, smart transportation.

SMEs will accept green tech at a higher rate than larger enterprises, as these small enterprises contribute enormously to the economy of any country. In this way, the enhancing acceptance of the IoT and cloud computing techs by SMEs will give impetus to solution providers in the years to come.

Cloud computing is the finest way for them to stay stable in an age of the fast-shifting markets, since it has solved numerous hitches faced by small businesses. It offers simple access to applications, software, and databases without adding to the cost of having robust IT infra.

North America led the green technology and sustainability market in the recent past and it will continue to do so in the years to come. This will be as a result of the surge in the attempts of the government for minimizing the emission of carbon and the quick acceptance of energy-saving technologies in the region.

Because of the growing demand for energy and unstable prices of crude oil all over the world, the demand for green technology and sustainability will grow considerably in the years to come.

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Paints and Coatings Market Will Grow Rapidly due to Surging Product Consumption in the Automotive

Paints and coatings are beneficial to the substrate because they may beautify and protect a surface. They improve the surface's durability when utilized for decoration. They also protect the surface against corrosive substances, corrosion, and chemical exposure.

Paints and coatings can also provide specific features, such as flame retardancy, anti-fouling, and anti-microbial properties, for certain purposes. By 2030, the market for paints and coatings is predicted to grow to USD 238.8 billion, according to P&S Intelligence.

Due to the growing population and accelerated rate of urbanization, the construction sector is expanding rapidly in the U.S., Sweden, India, China, Australia, Canada, and the U.K. 

Between 2022 and 2030, China's already-dominant construction industry is predicted to experience tremendous growth. The need for decorative coatings is being driven by this expansion of the building sector.

Governments from a number of nations are also contributing to the creation and advancement of infrastructure. The 14th Five-Year Plan of China includes such measures to integrate cutting-edge technologies into the building and construction process. The administration is expected to give priority to infrastructure for energy and transportation, with a focus on enhancing connectivity inside metropolitan clusters.

Water-borne coatings are expected to have the highest share in 2022, accounting for around 47%, thanks to their expanding application in the printing inks, furniture, plastic, automotive, and furniture industries.

Due to the cost-effectiveness and excellent adhesion capabilities of these materials, the demand for these versions will also continue to expand, which will benefit various vehicle and furniture makers.

The powder category will expand at a 6% annual pace. Because powder coat coatings are resistant to corrosion, chemicals, abrasion, and detergents, the primary application areas for these alternatives are important vehicle, engine, and industrial machinery parts.

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Gas Insulated Switchgear Market To Reach USD 36,400.7 Million by 2030

The total size of the gas insulated switchgear market was USD 22,457.4 million in 2022, and it will hit USD 36,400.7 million by 2030, advancing at a rate of 6.2% by the end of this decade, as per a report by P&S Intelligence.

The indoor category had the larger share, about 70%, in the past because indoor switchgear is much safer and dependable, needs less space than an outdoor system, and more robust and easier to uphold. Because of the grounded metal enclosures, the danger of electrocution is also reduced. 

Also, it is more safe and less susceptible to ecological factors.

The outdoor category will grow at over 6% in the years to come. This substation was installed for meeting high voltage needs not associated with building construction. These substations are intended for voltage levels more than 66kV.

Furthermore, it makes it simple to surge the fitting of outdoor substations and visualize the gear of the outside substation.

The hybrid category dominated the gas insulated switchgear market with, over 40%, in the recent past. With the merger of more functions, the separation between components nearly reaches zero. The requirement for site space is greater for the AIS since permissions must be upheld between precise pieces of equipment, including CT, CB, ground switches, disconnectors, etc.

Furthermore, high-quality maintenance and preservation are required for AIS components. Instead, GIS has parts requiring less maintenance and upkeep. The incorporation of AIS and GIS nearly removes the necessity for maintenance of hybrid switchgear.

The power utility category dominated the industry and also will have the fastest growth in the years to come. The network of transmission has grown globally because of the increasing power requirements brought on by growing urbanization and population.

The transmission network will develop because of the increasing population, escalating the count of substations. This increase in substations will increase the requirement for gas-insulated switchgear.

APAC dominated the industry with around 40%, in the recent past because of the growing demand for electricity and increasing urbanization. 

Furthermore, 2.2 billion people, or 54% of the global metropolitan population, reside in APAC. Also, the region’s urban population will increase by 50% by 2050, or by a further 1.2 billion people.

North America followed APAC in the past because of the increasing requirement for electricity and surging renewable energy. In the U.S., numerous sources of energy and technologies are put to use for generating electricity. Over time, technology and sources have changed, and some are now used more often than others.

It is because of the increasing demand for electricity all over the globe, the requirement for gas insulated switchgear will continue to grow considerably in the years to come. 

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