North America Foam Blowing Agents Market Will Reach USD 451.5 Million By 2030

In 2023, the North American foam-blowing agents market stands at a robust USD 305.8 million, with a projected compound annual growth rate (CAGR) of 5.8% anticipated during the period from 2024 to 2030. This substantial growth trajectory is expected to propel the market to reach an impressive USD 451.5 million by the year 2030.

Moreover, new applications in the healthcare market will aid in the growth of the sector. for instance, the FDA approved a new foaming agent for therapeutic gastrointestinal injuries in armed personnel by being injected into the abdomen. The needed pressure to halt the bleeding is molded by blowing agents. A recent study discovered that in the past few years, contemporary foaming tech aided in averting close to 91% of mortalities on the frontline.

Another major sector that utilizes foam-blowing agents is manufacturing, which endures to boom in the U.S. and Canada. Furthermore, the rising need for greater blowing agents to manufacture polymeric foams helps the sector grow. Apart from construction and building, the rising automotive & transportation, packaging, marine, furniture & bedding, electrical appliances, and packing sectors are driving the polymer foam market.

The foam category is segmented into polyurethane foam, polystyrene foam, phenolic foam, and polyolefin foam. The polyurethane foam category dominates the industry, and this dominance can be credited to the flexibility and distinctive properties linked with polyurethane foams.

In addition, in the field of use as roof or wall reinforcement for agriculture, home, and commercial buildings, there is a growing demand for PU foam blow agents. In this respect, the continuing growth of these sectors and the fact that building insulation is vital in a region as cold as it is has led to an increased market. It is only by good insulation that the desired temperature inside buildings may be maintained, and energy needs for heating are reduced.

Read More

Automotive Filter Market Will Touch USD 15.5 Billion in 2030

The automotive filter market was USD 12.3 billion in 2023, which will increase to USD 15.5 billion, powering at a 3.4% compound annual growth rate, by 2030.

This is because of the rising health worries among individuals, coupled with the growing level of environmental pollution, surging vehicle production and ownership rate, and implementation of strict government laws for emission reduction.

In 2023, the passenger vehicles category, based on vehicle, accounted for the larger share, primarily because of the surging need for luxury automobiles. Luxury vehicles offer greater-quality filters for the HVAC systems as well as intake manifolds, for high comfort levels and enhanced automobile performance, respectively. 

The commercial vehicles category, on the other hand, was a significant contributor to the industry, primarily because of the increasing e-commerce activities all over the globe. The speedy urbanization has established new e-commerce and retail platforms, which demand effective logistics, therefore resulting in the progression of this category.

In 2023, APAC accounted for the largest share, of 45%. This can be because of the increasing disposable salary of the middle class, the rising urbanization rate, growing automotive production and sales, and the existence of an enormous youth populace in this region.

Moreover, the strong auto component and automotive manufacturing base, coupled with the stringent environmental policy to reduce emissions, boost the industry in China and India.

North America was the second-largest contributor to the industry. This can be primarily because of the surge in the count of industry players in this continent as well as the growing requirement for passenger and commercial vehicles.

With the increasing worries about health owing to vehicle exhaust and the strict environmental rules to reduce emissions, the automotive filter industry will continuously progress in the coming years.

Read More

Automotive Ultrasonic Sensors Market Will Grow the Fastest in the APAC

The automotive ultrasonic sensors market will power at a compound annual growth rate of 5.1% by the end of this decade, to reach a value of USD 6,096.2 million in 2030. 

 APAC will be the fastest growing in the years to come as well. The region is observing extensive research and development activities in the autonomous vehicle field, driving the requirement for automotive ultrasonic sensors.

The continuing tech innovations in automotive sensors are trending in the years to come. The industry stalwarts are continuously innovating and updating their product offerings, thus catering to the mounting requirement for them in autonomous vehicles. 

For example, in September 2019, TDK Corp. introduced a novel series of ultrasonic sensor disks, on the basis of ceramics, which would help in park assistance, level measurement for fuel or SCR tanks, blind spot monitoring, and interior monitoring for anti-theft systems.

Semi-autonomous vehicles were the larger category in the past. This is for the reason that fully-autonomous automobiles, including level 4 and 5 autonomies, will be introduced in 2023 and 2025, correspondingly; therefore, in the past, only semi-autonomous vehicles were obtainable.

Commercial vehicles will have a faster growth in the years to come, in the automotive ultrasonic sensors market. The rising acceptance of these automobiles in the logistics sector, together with the projected implementation of autonomous features to improve the logistics activities, will drive the category growth.

Europe was the leader if the industry in the past. The increasing disposition of autonomous features in the automobiles, accompanied by the supportive governing policies executed by the government of more than a few countries, is the key contributor to the development of the industry. 

The prosperity of the market in this region is also boosted by the existence of some renowned automotive giants, for example BMW AG, Daimler AG, Chrysler Automobiles NV, Volkswagen AG, Fiat, and the Renault–Nissan– Mitsubishi Alliance.

 It is because of the increasing adoption of ADAS systems all over the world in vehicles, and the supportive regulations of the government for autonomous vehicle development, the demand for automotive ultrasonic sensors is on the rise. This trend will continue to grow in the years to come as well.

Read More

Ablation Technology Market is Powered by the Increasing Healthcare Infrastructure

The size of the ablation technology market generated USD 5,313.2 million e in 2023, and it will power at a rate of 9% by the end of this decade, to touch USD 9,672.9 million by 2030.

To learn more about this report: https://bit.ly/4aHiQo7

This is credited to the surge in the case count of chronic ailments, for example heart ailments, cancer, and ophthalmologic, gynecological, and urological ailments. This leads to an increase in the requirement for effective surgical therapies, which, powers the ablation device volume.

The radiofrequency ablators category had the largest share, of 25%, in 2023, and it will power at a rate of 9.2% by the end of this decade. This is as a result of the growing use of RFA for the treatment of cancerous and benign tumors, chronic neck and back pain, chronic venous inadequacy in the legs, and numerous further conditions. RFA is also put to use for atrial fibrillation, in which the heartbeat is irregular.

North America ablation technology market was the leader of the industry in 2023, as a result of the expansions in the tech and increasing consciousness with regards to its usefulness for more than a few treatments.

The surge in the count of patients with chronic ailments is adding to the industry growth. Already, cancer is among the leading grounds of death in the region. Its mortality rate will rise to about 3 million by the end of 2040. Likewise, about 37.3 million individuals in the nation were found to have diabetes, and about 96 million grown-ups had prediabetes.

APAC is the fastest growing region, with a rate of 9.5%, by the end of this decade. This has a lot to do with the snowballing consciousness of minimally invasive methods, evolving healthcare systems, and mounting economies. 

For example, in October 2022, Fortis introduced a 200-bedded multi-specialty hospital in Greater Noida. The hospital will host numerous international patients too, which would contribute to the development of India’s medical tourism sector.

It is because of the increasing healthcare infra all over the world, the demand for ablation technology is on the rise. This trend will continue to grow in the years to come as well.

Read More

ELISpot and FluoroSpot Assay Market is Powered by the Rising Elderly Population

The ELISpot and FluoroSpot assay market made USD 289.5 million revenue in 2023, and it will power at a compound annual growth rate of 7.9% by the end of this decade, to touch a total value of USD 490.8 million by 2030.

To learn more about this report: https://bit.ly/47ili1C

Some factors which are powering the industry are the increasing occurrence of chronic and communicable ailments at the global level, particularly HIV, and the growing elderly populace. ELISpot and FluoroSpot are diagnosis assays made for numerous diseases, for example infectious disease, cancer, and, autoimmune ailments.

Assay kits will have the largest share in the years to come as a result of the increasing incidence of infectious and chronic diseases, accompanied by the progression in assay kits. The ELISpot assay is also put to use for checking the efficiency of vaccines on immune mediators, for example, interferons, pro-inflammatory mediators, and interleukins.

North America leads the industry with a share, of 55%, in 2023. As per the U.S. Census Bureau, about 56 million adults aged 65 or more are in the U.S. and will be around 16.9% of the national populace. 

Further, there will be over 73 million older adults by the end of 2030, meaning over 1 in 5 people will be older. The total count of adults aged 65 and more will increase to 85.7 million by 2050 and account for around 22% of the overall populace of the nation.

It is because of the growing elderly population all over the world, the demand for ELISpot and FluoroSpot assays is on the rise. This trend will continue to grow in the years to come as well.

Read More

Rising Air Pollution is Driving Compressed Air Filter and Dryer Market

The size of the compressed air filter and dryer market was USD 5,596.7 million in 2023, and it will power at a rate of rate of 5.8% by the end of this decade, to touch USD 8,350.1 million by 2030. This has a lot to do with the growing air pollution, rising consciousness among individuals with regards to the advantages of strict government guidelines, fast industrialization, and progressions in tech with regards to compressed air filters and dryers.

Furthermore, the air dryer is majorly used in the in the elimination and control of moisture in the air and offering pure, clean, and safe compressed air, which will endorse its evolution in demand in the years to come. 

Furthermore, this is because the tech is proceeding particularly in the automation and manufacturing sectors and the substantial development in the automotive industry. Also, the requirement is growing for effective and dependable systems associated with compressed air dryers and filters for improving competence, quality of the product, and productivity in the vehicle manufacturing.

It is because of the increasing urbanization and air pollution all over the world, the demand for compressed air filters and dryers is on the rise. This trend will continue in the years to come as well.

Read More

Bio-Acrylic Acid Market Will Propel at a 15.8% CAGR

The bio-acrylic acid market was USD 457.8 million in 2023, which will increase to USD 1,275.7 million, advancing at a 15.8% CAGR, by 2030.

Thus, in the coming years, the industry will advance due to the extensive use of paints and coatings across different sectors. Furthermore, the need for environmentally friendly coatings is rising across different architectural, automotive, and industrial applications. 

The enduring recognition of acrylic acid as an element of such products has now opened the gates for its eco-friendly counterpart.

The superabsorbent polymers category, based on derivative, was a significant contributor, because of their capability to absorb a substantial quantity of aqueous solutions. This is the major reason behind their use in incontinence pads, diapers, controlled-release medications, absorbent medical dressings, and more.

The paints and coatings category, based on application, was the largest contributor to the bio-acrylic acid market. This is because of the numerous benefits of bio-acrylic acid in such products like enhancement in shelf life, texture, and consistency. 

APAC was the largest contributor to the industry, and it is likely to remain the largest throughout this decade, with USD 0.2 billion. This can be because of the rising industrial activities, which are, in turn, boosting the need for paints & coatings.

China led the industry in APAC, and it is likely to propel at a 16.2% CAGR, owing to the rising consciousness about personal hygiene, coupled with the increasing construction activities. 

Moreover, constant expansion is being observed in the automobile sector, which will boost the need for bio-acrylic acid as an important element of automotive coatings in the coming years.

With the surging need for sealants and adhesives, the bio-acrylic acid industry will continuously propel in the coming years.

Read More