Multi-factor Authentication Market Leading Players, Survey, Status and Trends Report by 2030

 The global multi-factor authentication (MFA) market was valued at approximately USD 14.28 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 14.2% from 2023 to 2030. Multi-factor authentication is a security protocol that requires users to verify their identity through multiple layers of verification before granting access to digital resources or allowing transactions. This method enhances security by combining something the user knows (like a password), something the user has (such as a smartphone or security token), and sometimes even something the user is (like a fingerprint or facial recognition). With the rise in cyberattacks and data breaches targeting sensitive information, the adoption of MFA solutions is becoming essential for organizations across all sectors. Strict regulatory requirements for data protection are also propelling the MFA market, as more industries are required to comply with data privacy standards and implement stronger authentication measures to secure customer information.

Gather more insights about the market drivers, restrains and growth of the Multi-factor Authentication Market

The rapid shift toward cloud technologies, enterprise mobility, and the "bring your own device" (BYOD) trend across workplaces are increasing the demand for MFA solutions. These trends introduce additional vulnerabilities that require stringent access control to secure corporate networks and data. The emergence of authentication-as-a-service (AaaS) platforms, which provide businesses with scalable, cloud-based MFA solutions, is also driving growth in the MFA market, offering flexible, advanced authentication options that can be integrated with existing IT infrastructures.

Several leading technology companies, including CA Technologies, Vasco Data Security International, RSA Security LLC, and Symantec Corporation, are heavily investing in research and development to create new authentication solutions that improve security while enhancing user experience. Despite this growth, challenges remain. The costs associated with procuring, implementing, and managing MFA solutions, as well as the complexity of integrating them into varied IT environments, can be barriers to adoption. However, as cyber threats continue to evolve, more industries are implementing security standards that necessitate MFA, reducing the impact of these challenges over time.

Application Segmentation Insights:

Multi-factor authentication plays a critical role in enabling secure access control, preventing unauthorized transactions, and detecting fraudulent activities. Different sectors are adopting MFA to address specific security needs. The banking, financial services, and insurance (BFSI) sector has the highest adoption rate for MFA solutions. In 2022, BFSI accounted for the largest revenue share at 33.7% and is expected to continue growing at a rapid pace with a forecasted CAGR of 15.6%. Financial institutions handle high volumes of sensitive financial data, making them attractive targets for cyberattacks. To protect customer accounts, transaction data, and personal information, these institutions are implementing MFA as an essential security measure. Moreover, customers increasingly expect secure and seamless online banking experiences, which has led financial organizations to prioritize robust authentication methods that ensure security without compromising user convenience.

The healthcare sector is anticipated to be one of the fastest-growing markets for MFA solutions over the forecast period. With the rise of digital health records and online patient portals, securing sensitive patient data has become a top priority, driving healthcare providers to adopt MFA for safeguarding access to medical information and ensuring compliance with health data regulations. Similarly, the government and defense sectors are rapidly adopting MFA due to the critical nature of the data they handle, especially with the increasing digitalization of public services and the growing need for cybersecurity.

The retail and e-commerce sector is also set to experience substantial growth in the MFA market, with a projected CAGR of 15.5%. As e-commerce continues to grow in popularity, retailers are facing an increasing number of cyber threats, including identity theft and payment fraud. Multi-factor authentication helps mitigate these risks by adding extra layers of protection for sensitive data, such as payment and personal information. As consumers become more aware of security issues, they expect secure authentication options when shopping online, motivating retailers to adopt MFA solutions that build customer trust and protect transaction integrity.

Technological advancements in scanning technologies, mobile-based authentication, and biometrics have led to innovative MFA solutions that meet diverse security needs. Sectors like education, utilities, manufacturing, and logistics are also increasingly integrating MFA to secure access to corporate networks and safeguard proprietary and confidential information. These industries are leveraging MFA to protect both employee and customer data, ensuring a secure digital environment as they continue to adopt cloud computing and other digital solutions.

Order a free sample PDF of the Multi-factor Authentication Market Intelligence Study, published by Grand View Research.

Medical Plastics Market Analysis, Size, Research and Economic Growth Report by 2030

 The global medical plastics market was valued at approximately USD 52.9 billion in 2023 and is forecasted to expand at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. This growth is largely attributed to advancements in specialized plastics and plastic composites, which are integral in manufacturing various medical components such as catheters, surgical instrument handles, and syringes. The rising demand for in-house and advanced medical devices is propelling the need for durable, lightweight materials like polyethylene, polypropylene, and polycarbonate, which are increasingly used in medical device manufacturing. Furthermore, the expanding home healthcare sector, which is more cost-effective than hospital-based care, has also significantly increased the demand for medical devices that rely on medical plastics for portability, durability, and safety.

According to the most recent U.S. census data, approximately 16.8% of the U.S. population is aged 65 or older, with this demographic expected to reach 74 million by 2030. Among this population, those aged over 85 require the most intensive healthcare, and their numbers are growing rapidly. In March 2021, President Joe Biden proposed a significant investment of USD 400 billion over eight years for Medicaid, aimed at expanding at-home care for the elderly and disabled populations while raising caregivers' wages. In the U.S., increasing costs and shrinking profit margins for healthcare providers have driven the government to overhaul healthcare funding and insurance through initiatives like the Affordable Care Act (ACA) and Medicaid reforms to make healthcare more accessible and affordable.

Gather more insights about the market drivers, restrains and growth of the Medical Plastics Market

The market is experiencing a high growth stage, with an accelerated pace due to its consolidation. Medical plastic manufacturers are increasingly pursuing strategic moves such as mergers and acquisitions, product launches, and production expansions to strengthen their competitive positioning. For example, in November 2023, TekniPlex Healthcare acquired Seisa Medical, a medical device manufacturer based in El Paso, Texas. This acquisition allows TekniPlex to leverage Seisa’s expertise in materials science and processing technology for interventional therapy and minimally invasive devices on a global scale. Seisa offers contract manufacturing services across the entire product development cycle for Class II and III medical devices, including component manufacturing, assembly, and packaging, all of which are critical for expanding TekniPlex’s global capabilities.

Application Segmentation Insights:

In 2023, the medical components segment led the market, accounting for over 40.0% of revenue share. The COVID-19 pandemic significantly drove demand for essential medical components such as personal protective equipment (PPE), face masks, gloves, gowns, and technology-intensive devices like magnetic resonance imaging (MRI) scanners. Emerging markets played a key role in manufacturing PPE, face masks, and gloves, while developed markets primarily focused on producing high-tech equipment such as MRI scanners and ventilators. The global surge in demand for these products during the pandemic highlights the importance of medical plastics in facilitating healthcare responses, thereby fueling growth in the medical components segment.

Medical device packaging is essential for maintaining device integrity and performance over its shelf life. Proper packaging protects devices from physical damage, biological contamination, and environmental disturbances, while ensuring sterility before their use in healthcare settings. Effective packaging includes labeling for easy identification and supports the safe transport of devices to end users.

Packaging for orthopedic implants, such as knee, hip, spine, and thumb implants, requires materials compatible with multiple sterilization methods and that offer high puncture and abrasion resistance. These implants must be safeguarded against physical damage and contamination to maintain their integrity and effectiveness. Common materials used for orthopedic implant packaging include thermoplastic polyurethane (TPU) and polyethylene. UFP MedTech, for instance, developed FlexShield TPU and cross-linked polyethylene (XLPE) for orthopedic packaging applications. Both materials are compatible with gamma and ethylene oxide (ETO) sterilization processes and offer strong resistance to abrasion and punctures.

The demand for orthopedic soft goods, such as knee and back supports, is rising, particularly in developed regions like Europe, the U.S., and Japan, which have a growing elderly population. Additionally, the fitness and sports industries in emerging economies like India are driving demand as well. Orthopedic soft goods cater to a diverse consumer base, including senior citizens, young adults, and teens, by providing relief from joint pain caused by disease, occupational strain, or sports-related injuries. These products encompass a range of items, including rehabilitation aids, knee braces, wrist supports, back support braces, ankle supports, elbow straps, abdominal binders, rib belts, hernia supports, and cervical collars. They are essential for managing pain and providing support for injuries related to fractures, muscle pain, and various orthopedic conditions.

Order a free sample PDF of the Medical Plastics Market Intelligence Study, published by Grand View Research.

Dental 3D Printing Market In-Depth Analysis of Industry Share, Growth Outlook 2030

 The global dental 3D printing market was valued at an estimated USD 3.1 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 26.4% from 2024 to 2030. The use of 3D printing in dentistry has rapidly gained traction due to its advanced technology and transformative impact. The design and development of innovative products, such as invisible aligners and advanced prosthetics with aesthetic enhancements, are key factors driving demand for dental 3D printers. The user-friendly nature of 3D printing processes has made it possible for dental professionals to create custom dental products that precisely address the unique requirements of individual patients. This capability boosts productivity, reduces fabrication times, and enhances patient outcomes by providing faster and more comfortable solutions. Additionally, the digitalized workflow of 3D printing helps minimize procedural discomfort and maximizes patient satisfaction by streamlining processes.

The COVID-19 pandemic led to considerable disruptions in the medical device supply chain, resulting in a decline in the number of dental procedures performed and an overall contraction in the market. Restrictions and lockdowns affected the sales and demand for dental equipment as manufacturers diverted their focus to pandemic-related necessities. For example, in March 2020, 3D printing company Formlabs used over 250 in-house 3D printers at its Ohio facility to produce up to 150,000 COVID-19 test swabs daily. Despite these setbacks, the medical device industry, including dental 3D printing, is gradually recovering as markets stabilize and healthcare demands return to pre-pandemic levels.

Gather more insights about the market drivers, restrains and growth of the Dental 3D Printing Market

In recent years, the medical device industry has witnessed significant consolidation, with major players pursuing acquisition and collaboration strategies to enhance their global reach and strengthen their product portfolios. This competitive landscape is further intensified by increased product innovation, service expansions, and mergers and acquisitions (M&A). For instance, in December 2021, Stratasys Ltd., a prominent American-Israeli manufacturer of polymer 3D printing solutions, launched the Stratasys Origin One Dental. This addition to the company’s growing dental-focused portfolio highlights the rapid technological advancements taking place within the market.

The United States currently dominates the dental 3D printing market, and this trend is expected to continue throughout the forecast period. Factors such as rising demand for cosmetic dentistry, advancements in technology, and increased public awareness of oral health contribute significantly to market growth. Other contributing factors include a growing elderly population, rising healthcare expenditures, favorable government policies, and improvements in healthcare infrastructure, all of which create a positive outlook for the market. Leading manufacturers in the U.S. are also investing heavily in research and development (R&D) to introduce innovative dental 3D printing products that address evolving market needs.

Application Segmentation Insights:

Within the market, the orthodontics segment accounted for the largest share of revenue at 39.0% in 2023 and is expected to grow at a CAGR of 26.5% during the forecast period. The demand in this segment is driven by the rising incidence of dental misalignment and gaps between teeth. An estimated 3 million teens in Canada and the United States are currently undergoing orthodontic treatment with braces, and the number of adults starting orthodontic treatment continues to increase steadily. The American Association of Orthodontists (AAO) advises that children have their first orthodontic consultation by the age of 8, which underscores the growing demand for orthodontic care and supports the market growth of dental 3D printing.

In addition to orthodontics, the prosthodontics segment is anticipated to grow at an even higher CAGR of 26.8% during the forecast period. This growth is largely driven by the rising prevalence of edentulism (tooth loss) and dental decay, which fuel the need for prosthetic dental solutions. As these conditions become more widespread, demand for advanced dental prosthetics continues to expand, making prosthodontics one of the fastest-growing segments within the dental 3D printing market.

Order a free sample PDF of the Dental 3D Printing Market Intelligence Study, published by Grand View Research.

Aptamers Industry – Emerging Players May Yields New Opportunities Till 2030

 The global aptamers market was valued at USD 1.94 billion in 2022 and is projected to expand with a robust compounded annual growth rate (CAGR) of 24.54% from 2023 to 2030. The rise in interest among researchers in aptamers is driven by advancements in aptamer generation, purification, and targeted drug delivery techniques that kill target cells. Aptamers offer competitive advantages, such as small molecular size, low immunogenicity, cost-effective manufacturing, and fewer side effects compared to antibodies. These advantages are likely to fuel research and development (R&D) in novel aptamer technologies, subsequently propelling the growth of the aptamers market. Despite significant global research efforts, highly effective treatments for COVID-19 remain limited due to extensive genetic mutations of the virus. However, aptamer-based biotechnological approaches present a promising potential in COVID-19 treatment.

Aptamer-based diagnostic products are increasingly preferred by diagnostic and pathology laboratories for disease diagnosis at the cellular level, given their small size, high specificity, selectivity, and efficacy. The prevalence of diseases such as cancer, cardiovascular disease (CVD), and age-related macular degeneration (AMD) is anticipated to lead to a higher patient turnout in laboratories for diagnostic purposes, boosting demand for aptamer-based diagnostic products. Cancer Research UK projects that approximately 27.5 million individuals could be diagnosed with cancer by 2040, underscoring the increasing need for advanced diagnostics.

Gather more insights about the market drivers, restrains and growth of the Aptamers Market

In March 2022, SomaLogic initiated the assay of samples through its SomaScan Assay for the European Prospective Investigation into Cancer and Nutrition (EPIC) study, analyzing 210 million protein measurements from 30,000 samples. This large-scale study aims to support cancer prediction by enhancing the understanding of cancer, potentially addressing the rising demand for cancer diagnostics and contributing to market growth.

Currently, Macugen, developed by Eyetech Pharmaceuticals, Inc. (now commercialized by Bausch Health Companies Inc.), remains the only FDA-approved therapeutic aptamer in the U.S. since its approval in 2004. It is prescribed for treating AMD. Ongoing technological advances in research continue to direct scientific focus toward developing new aptamer-based drugs to treat various conditions. Several products are in clinical trials, including Zimura, developed by IVERIC Bio, Inc., for treating AMD. The anticipated approval of such drugs could further stimulate market growth in the near future.

Application Segmentation Insights:

The aptamers market is segmented based on application into diagnostics, therapeutics development, research and development, and others. The research and development (R&D) segment accounted for the largest market share at 31.38% in 2022, driven by the rising demand for aptamers and increasing R&D activity in the field. Key players have pursued various strategic initiatives, such as collaborations, partnerships, and agreements to support aptamer-based diagnostics and therapeutic development. For instance, in June 2021, SomaLogic and Ixaka Ltd entered into a research partnership to facilitate the discovery and development of bispecific therapeutics using aptamers. This partnership specifically explores the safety and efficacy of antigen-specific SOMAmer reagents, which is expected to further boost growth in the R&D segment.

The therapeutics segment is anticipated to grow rapidly, with a projected CAGR of 26.08% from 2023 to 2030. Aptamers offer several advantages over traditional protein therapeutics, including the ability to design antidotes in a targeted way (a challenge with antibodies), synthetic accessibility, and modifications through medicinal chemistry. These factors collectively enhance the therapeutic segment's market strength. However, therapeutic aptamers face challenges with nuclease resistance, which could potentially hinder growth in this segment.

Order a free sample PDF of the Aptamers Market Intelligence Study, published by Grand View Research.

Clinical Trial Supplies Market - Latest Innovations by Industry Experts Till 2030

 The global clinical trial supplies market was valued at USD 2.58 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. Key drivers of this growth include the globalization of clinical trials and the increasing number of biologic and biosimilar drugs in development. Biologic and biosimilar drugs are particularly complex and often temperature-sensitive, necessitating specialized handling and storage throughout the supply chain. The rapid adoption of advanced supply chain management systems, aimed at increasing operational efficiency and managing the high R&D expenditure of biopharmaceutical companies, is expected to further drive growth in this market. As clinical trial supplies represent a substantial portion of R&D costs, streamlining supply chain processes has become a priority for biopharmaceutical firms.

Most clinical trials today are conducted in developing regions, where cost savings and access to diverse patient populations can be achieved. Rising costs associated with clinical trials, alongside the complexities of patient recruitment, have led many biopharmaceutical companies to outsource trials to areas such as Asia Pacific, Latin America, Central & Eastern Europe, and the Middle East. These regions offer significant advantages, including access to patients with varied disease profiles, which supports trials for rare diseases. Certain countries, such as China and Singapore, actively support biomedical research, allocating government funds to attract biopharmaceutical companies. Latin America, on the other hand, offers reduced language barriers, which simplify the process of obtaining informed consent, expediting the trial process.

Gather more insights about the market drivers, restrains and growth of the Clinical Trial Supplies Market

Investments in advanced supply chain management software by clinical trial supply providers have been on the rise. Increasing trial complexity, as well as heightened competition, are pushing the industry to adopt new technologies that enhance supply chain planning and inventory management. For instance, inventory management software and digital twin technology are used in pharmaceutical manufacturing to create simulated environments that predict biological responses, helping speed up the drug development process by reducing reliance on physical samples and maximizing laboratory testing accuracy.

Clinical Phase Segmentation Insights:

Phase III clinical trials held the largest share of the clinical trial supplies market in 2023, accounting for 52.75% of total global revenue. Phase III trials are the most complex stage of clinical research, as they require larger sample sizes and more rigorous study designs to determine optimal dosing levels. Additionally, Phase III trials have the highest failure rates, often due to non-compliance with safety and efficacy standards, leading to significant financial and human costs. These challenges underscore the need for efficient clinical trial supply chains and logistics, which is expected to positively impact market growth in the coming years.

Phase I clinical trials are projected to exhibit the fastest CAGR of 7.0% over the forecast period. These trials, which involve a smaller patient population but require high capital investment, are increasingly being outsourced due to the associated cost benefits. The rise in outsourced Phase I clinical trials and the continued globalization of clinical trials are key factors expected to drive demand for clinical trial supplies at this early stage of drug development.

Order a free sample PDF of the Clinical Trial Supplies Market Intelligence Study, published by Grand View Research.

Ceramic Matrix Composites Market 2030 – Trends, Driving Factors by Manufacturers

 The global ceramic matrix composites (CMC) market was valued at approximately USD 3.40 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 12.8% from 2023 to 2030. The increasing demand for materials with high-temperature stability, reduced weight, and exceptional strength is a key driver for this market’s growth. These properties make CMCs highly valuable in demanding applications where traditional materials often fall short. The chemical industry experienced a significant shift in the first half of 2020, as companies were already facing complex, long-term challenges and were further impacted by the economic downturn associated with the COVID-19 pandemic and the concurrent oil price collapse, which influenced the entire CMC market landscape.

The high cost of ceramic fibers remains a significant factor impacting market growth. Unlike carbon fiber, commonly used in metal and polymer composites, ceramic fibers are produced in smaller quantities, which prevents them from benefiting from the economies of scale that reduce costs in high-volume production.

Gather more insights about the market drivers, restrains and growth of the Ceramic Matrix Composites Market

Ceramic matrix composites are finding increasing application in industries like electronics, thermal management, and high-performance sports equipment, where they offer advantages such as improved performance, enhanced comfort, and robust structural integrity. Over the forecast period, CMCs are anticipated to replace traditional alloys and other metals in various applications, particularly where their high thermal resistance allows them to function with minimal or no cooling requirements. This quality is particularly valued in the aviation industry, where demand for CMCs is expected to grow significantly.

The United States, as a global military leader, is a major consumer of CMCs. Additionally, the U.S. Department of Energy is researching CMC cladding for fuel rods in light-water nuclear reactors, which could boost CMC demand in the energy and power sectors. In North America, the CMC market is expected to grow as key players increase research and development efforts, expand manufacturing capacity, and broaden their product offerings.

Application Segmentation Insights:

In 2022, the aerospace segment led the CMC market, accounting for over 41.95% of the global revenue share. The demand for ceramic matrix composites in aerospace is driven by their use in manufacturing essential components like noses, rudders, fins, leading edges, body flaps, hot structures, tiles, and panels for aircraft. CMCs’ high impact strength and hardness make them ideal for these applications, as they enhance durability and safety in aerospace structures.

In addition to aerospace, CMCs are valued for their application in manufacturing bullet-proof armor and as insulators for small arms weapon platforms. Many ceramic materials are transparent to specific types of energy and light, making them suitable for infrared domes, sensor protection, and multi-spectral windows.

The energy and power sector is expected to be the fastest-growing application segment for CMCs during the forecast period. With their high-temperature stability, oxidation resistance, and radiation tolerance, CMCs are well-suited for applications in both fission and fusion energy technologies.

Ceramic matrix composites are also widely used as isolators in the electronics industry and are integral to electronic circuits due to their high thermal conductivity. Other CMC applications include laser diodes, LEDs, artificial teeth, and fuel cells, which further support market expansion. These diverse applications make CMCs a valuable material in various high-performance and emerging technological fields.

Order a free sample PDF of the Ceramic Matrix Composites Market Intelligence Study, published by Grand View Research.

Automotive NVH Materials Market Size, Growth Opportunities Estimated to be Experienced By 2030

 The global market for automotive noise, vibration, and harshness (NVH) materials was valued at approximately USD 9.84 billion in 2022, with a projected compound annual growth rate (CAGR) of 5.6% from 2023 through 2030. The primary driver of growth in the NVH materials market is the increasing production and utilization of heavy commercial vehicles across various industries. Noise, vibration, and harshness (NVH) in vehicles, stemming from structure-borne and air-borne sources, can cause passenger discomfort and reduce the longevity of the vehicle. The use of NVH-reduction materials addresses these issues, improving ride quality and enhancing the durability of the vehicle. This has subsequently fueled demand for NVH materials in the automotive sector. Furthermore, automotive manufacturers are increasingly focused on acoustic management and NVH control for both passenger and commercial vehicles to enhance fuel economy, reduce cabin noise, and improve vehicle longevity. Changing consumer preferences towards quieter and more comfortable rides are also expected to contribute to the industry's expansion.

Gather more insights about the market drivers, restrains and growth of the Automotive NVH Materials Market

The market for aftermarket services, including replacement parts, repairs, maintenance, accessorization, and customization, has grown rapidly in recent years. As more consumers seek replacement auto parts and soundproofing options for their vehicles, the demand for NVH materials is anticipated to increase throughout the forecast period.

The growth of the NVH materials market in the automotive industry is further boosted by the introduction of active noise control systems, which cater to consumer preferences for enhanced comfort and safety. Additionally, evolving regulatory standards that emphasize noise reduction are driving the adoption of NVH materials.

The NVH materials market value chain includes raw material suppliers, manufacturers, converters, distributors, and end-users. Converters play a crucial role in the industry, transforming raw materials into final products such as foam laminates and molded rubber components. Industry participants may sell NVH materials directly to consumers under their brand names or supply them to third-party dealers.

Application Segmentation Insights:

The demand for automotive NVH materials has evolved significantly due to rising consumer awareness. Noise and friction absorption were the largest application segments in 2022, accounting for approximately 51.6% of overall revenue. As consumers place more importance on quiet, vibration-free, and comfortable riding experiences, the use of noise absorption products in the automotive industry has increased. These materials help reduce cabin noise and friction, contributing to a smoother and more enjoyable ride.

Additionally, the shift towards vehicle accessorization, including entertainment systems, has led to higher demand for noise absorption and damping materials. These solutions enhance the audio performance of entertainment systems by minimizing ambient noise. This trend is expected to drive further demand for noise absorption materials in vehicles.

China and India are projected to experience high demand for NVH materials due to growing vehicle production. Factors contributing to this trend include the rising demand for affordable passenger cars amid rapid urbanization and increasing living standards, benefits of low production costs, strong international demand, and significant domestic demand due to population growth.

Order a free sample PDF of the Automotive NVH Materials Market Intelligence Study, published by Grand View Research.

Aerogel Market Leading Players, Technological Analysis And Forecast till 2030

 The global aerogel market was valued at approximately USD 1.38 billion in 2024, with projections for a compound annual growth rate (CAGR) of 17.0% from 2025 through 2030. Aerogels, renowned for being lightweight, highly porous, and effective insulators, are increasingly applied across various sectors such as construction, aerospace, automotive, and electronics. With a continued rise in global energy consumption, the demand for materials that effectively reduce energy loss is pressing. Aerogels meet this demand with their outstanding thermal insulation qualities, making them particularly valuable for building insulation and providing thermal protection in industrial processes.

Aerogels are low-density materials that retain unique properties in solid form. Traditionally, they are manufactured through supercritical drying technology, although newer technologies have emerged to enhance efficiency. Aerogels are created by removing liquid from a gel in a way that leaves behind a 3D nanoporous structure, typically containing 80 to 99% air. While they can be produced from various materials, silica aerogels are the most common type. Other materials used in aerogel production include polymer and carbon, which are selected based on specific application requirements.

Gather more insights about the market drivers, restrains and growth of the Aerogel Market

The aerospace and defense industries are pivotal segments within the aerogel market, requiring materials that are both lightweight and capable of withstanding extreme temperatures and environmental conditions. Aerogels are increasingly utilized for insulating spacecraft, aircraft, and protective gear for military use. The emphasis on reducing weight to enhance fuel efficiency and overall performance in these sectors drives the demand for aerogels, positioning them as essential for high-performance applications.

Additionally, increased awareness of environmental issues and a move towards sustainable materials are major forces shaping the aerogel market. As industries aim to reduce their ecological impact, aerogels serve as a viable solution due to their low density and high thermal efficiency. Research into bio-based aerogels and eco-friendly production techniques is expected to attract additional investments, accelerating market growth. With sustainability emerging as a priority, aerogels are well-suited to benefit from this shift, solidifying their role as transformative materials across multiple applications.

End-use Segmentation Insights:

In 2024, the oil and gas sector held the largest share of the aerogel market, accounting for 61.0% of total revenue. Aerogels, with their high porosity, low density, exceptional thermal insulation, and strong mechanical properties, are highly valued in oil and gas for efficient thermal management, particularly in drilling, transportation, and refining processes. Their ability to withstand extreme temperatures while providing insulation reduces energy consumption and enhances safety in oil and gas facilities.

Performance coatings are projected to experience the highest CAGR of 18.4% throughout the forecast period. The drive towards sustainability and energy efficiency is fueling the adoption of aerogel-based performance coatings. As industries seek to reduce their carbon footprint, integrating aerogels into coatings supports these sustainability goals by lowering energy demands for heating and cooling. Additionally, innovations in aerogel production are making these materials more cost-effective and accessible, which encourages their application across an expanding range of industries.

Order a free sample PDF of the Aerogel Market Intelligence Study, published by Grand View Research.

Surface Disinfectant Market – Industry Insights, Trends and Growth Opportunity Analysis to 2030

 In 2023, the global surface disinfectant market reached a value of USD 5.85 billion and is projected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030. This growth is driven by several factors, including changing lifestyles in developing economies, a rising awareness among livestock farmers about animal diseases, and the importance of disinfection in livestock farms. Since the COVID-19 pandemic, there has been an increased focus on hygiene and sanitation worldwide, which has led to a surge in demand for surface disinfectants, sanitizers, and cleaning products. This heightened awareness of cleanliness to prevent illness has greatly fueled the demand for products that effectively eliminate germs and viruses from surfaces, positively influencing the market's expansion.

Surface disinfectants primarily rely on raw materials that are by-products of the petroleum industry, and manufacturers in Europe, North America, and China are major sources of these ingredients. However, a shift towards eco-friendly products has led to a growing interest in biodegradable disinfectants to prevent chemical-related toxicity. These bio-based disinfectants are made from cheaper, more accessible materials compared to traditional chemicals, and as a result, they are expected to surpass conventional petroleum-based disinfectants in demand in the near future.

Since the pandemic, the market has seen a slight to moderate increase in surface disinfectant prices. The surge in demand due to COVID-19, along with an increasing prevalence of chronic diseases and hospital-acquired infections (HAIs), is driving market growth, especially in developed regions like North America and Europe. Additionally, government initiatives and strict regulations on disinfection and sterilization practices have further boosted demand for these products in healthcare, food processing, and various public sectors.

Gather more insights about the market drivers, restrains and growth of the Surface Disinfectant Market

Composition Segmentation Insights:

In 2023, chemical disinfectants dominated the surface disinfectant market, accounting for over 90% of the revenue. Their widespread use can be attributed to the effectiveness of chemical agents like hydrogen peroxide, which is commonly utilized in the food packaging industry and healthcare facilities to disinfect surfaces. The use of other chemicals, such as quaternary ammonium compounds and alcohols, is also anticipated to support market growth due to their proven efficacy.

Chemical disinfectants are generally divided into two categories: oxidizing and non-oxidizing disinfectants. Non-oxidizing disinfectants include aldehydes, amphoteric phenolics, alcohols, and quaternary ammonium compounds (QACs). They are further classified into three main levels based on their efficacy: low-level disinfectants (e.g., QAC, phenolic compounds), intermediate-level disinfectants (e.g., iodine, alcohols, iodophores, hypochlorites), and high-level disinfectants (e.g., ortho-phthalaldehyde, hydrogen peroxide, peracetic acid, formaldehyde, and glutaraldehyde). Each level offers a different degree of antimicrobial activity, enabling industries and healthcare facilities to select products that align with their specific disinfection needs.

Bio-based surface disinfectants are emerging as a viable alternative to chemical disinfectants due to their non-toxic, biodegradable, and environmentally friendly properties. With the FDA’s approval of bio-based products for commercial use and the formulation of surface disinfectants, bio-based disinfectants present a considerable opportunity for market players. The growing application scope of these eco-friendly disinfectants, coupled with their potential to replace chemical disinfectants at cost-effective levels, is expected to create substantial market opportunities for both existing participants and new entrants.

Order a free sample PDF of the Surface Disinfectant Market Intelligence Study, published by Grand View Research.

Post-consumer Recycled Plastics Market Analysis Report - Industry Trends, Growth and Segmentation 2030

 The global market for post-consumer recycled (PCR) plastics was valued at USD 10.66 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2030. This growth is driven by the increasing sustainability initiatives of food and beverage as well as packaging companies that are transitioning to recycled plastic materials. These sustainability efforts align with the circular economy principles, as more end-users across various sectors adopt PCR plastics to reduce waste and environmental impact. Rising demand in key industries such as packaging, textiles, automotive, and construction further supports this trend. Additionally, technological advancements in recycling processes have led to the production of highly efficient and innovative PCR plastics, making recycling solutions more accessible and impactful.

A notable example of this technological advancement occurred in October 2023, when Repsol S.A. and Signode Industrial Group LLC launched a high-performance strap made from polypropylene (PP) with 30% recycled content, intended for high-strength applications. The demand for PCR plastics as a replacement for traditional, virgin fossil-based plastics is robust across various end-use industries, including construction, packaging, electronics, textiles, and automotive. Countries such as China, India, the U.S., and Saudi Arabia are witnessing a surge in construction activity, spurred by redevelopment initiatives and government investments in affordable housing and healthcare infrastructure. This increase in construction projects is expected to drive the demand for PCR plastics in the building and construction sectors.

However, one of the primary challenges faced by the PCR plastics market is waste management and the need for advanced recycling technologies. Global plastic waste flows tend to move from high-income countries to low-income countries, raising environmental concerns and presenting both logistical and economic challenges. Efforts to enhance plastic recycling infrastructure and policies are essential to addressing these issues and promoting sustainable practices.

Gather more insights about the market drivers, restrains and growth of the Post-consumer Recycled Plastics Market

Type Segmentation Insights:

In 2023, the polyethylene (PE) segment held the largest market share by revenue, accounting for over 20%. Post-consumer recycled PE is derived from a variety of plastic products, including films, sheets, and pellets, and offers effective barrier properties that make it suitable for food and beverage packaging applications. Its protective properties are particularly valuable for maintaining the quality and safety of packaged goods.

Looking ahead, the polypropylene (PP) segment is expected to grow significantly. Post-consumer recycled PP is known for its excellent chemical and mechanical properties, making it suitable for multiple applications across industries such as packaging, automotive, and household goods. PP’s durability, flexibility, and thermal resistance make it an ideal choice for manufacturing household appliances. Furthermore, as consumer awareness of environmental issues and sustainable practices increases, demand for recycled PP and other sustainable materials in packaging and automotive applications is expected to rise. This growing awareness is pushing manufacturers and consumers alike toward sustainable, recycled plastic solutions, fostering innovation and growth in PCR plastic production.

Order a free sample PDF of the Post-consumer Recycled Plastics Market Intelligence Study, published by Grand View Research.

Pharmaceutical Packaging Market Analysis, Growth Forecast by Manufacturers, Regions and Application to 2030

 In 2023, the global pharmaceutical packaging market reached a valuation of USD 139.37 billion and is projected to grow at a compound annual growth rate (CAGR) of 9.7% from 2024 through 2030. This growth is largely driven by the rapid expansion of the pharmaceutical industry, which has seen significant advancements in science and technology in recent years. These advancements are anticipated to continue driving demand, especially in emerging markets like China, India, Saudi Arabia, and Brazil, where pharmaceutical production and healthcare services are expanding rapidly.

The United States holds the largest pharmaceutical market share worldwide. Key factors behind this include the nation’s extensive healthcare infrastructure, high per capita income, and significant investments in drug research and development. The rise in generic drugs and improved access to healthcare services in the U.S. are also expected to create promising opportunities for pharmaceutical packaging over the coming years. Additionally, the 21st Century Cures Act (Cures Act), signed into law on December 13, 2016, was enacted to accelerate the development and approval of medical products, encouraging innovations that are anticipated to drive demand for pharmaceutical packaging in the U.S.

Gather more insights about the market drivers, restrains and growth of the Pharmaceutical Packaging Market

In Europe, the pharmaceutical industry is a crucial component of the economy and is one of the region's most high-performing and technologically advanced sectors. Recent years have seen a significant shift toward the development of biopharmaceutical drugs, a focus that has grown substantially. Biopharmaceuticals often require specialized packaging, as many biotechnology-derived drug therapies are unstable in liquid form and are instead offered as lyophilized (freeze-dried) or dry powder formulations. These specialized dosage forms demand advanced packaging solutions to maintain the drugs' stability and efficacy, creating new opportunities for packaging manufacturers to innovate.

The pharmaceutical packaging market is diverse and fragmented, featuring large and medium-sized international companies alongside smaller domestic players. Key players in this market include Amcor plc, Becton, Dickinson and Company, AptarGroup, Inc., Drug Plastics Group, Gerresheimer AG, Schott AG, O-I Glass, Inc., SGD Pharma, West Pharmaceutical Services, Inc., Berry Global Group, Inc., WestRock Company, International Paper, Comar, LLC, CCL Industries, and Vetter Pharma International.

Product Segmentation Insights:

Pharmaceutical packaging is categorized into three main types: primary, secondary, and tertiary packaging. In 2023, primary packaging accounted for the largest share of the market. Primary packaging refers to materials such as bottles, tubes, and blister packs that come into direct contact with the drug, protecting it from contamination and aiding in safe storage. Primary packaging often also plays a role in dispensing and dosing, and manufacturers are focusing on user-friendly designs, including easy-open closures and dispensing systems that ensure the correct dose is given at the appropriate time. These advancements are especially beneficial for elderly populations, who may need additional support in handling medication.

Secondary pharmaceutical packaging is the next layer of protection, grouping multiple primary packages to safeguard them from external impacts. This packaging is critical for both branding and logistics. It not only helps protect the drug but also serves as a marketing tool by displaying the product in an attractive way. Secondary packaging also makes it easier to handle and transport multiple units, which is important for distribution efficiency.

Tertiary packaging, on the other hand, is used to wrap or bundle large groups of products, facilitating safe handling and transportation of goods across long distances. Examples of tertiary packaging include brown cardboard boxes, shrink wraps, and plastic bags. The growth of e-pharmacy (online pharmaceutical sales) has contributed to the increased need for tertiary packaging, as it ensures the safe and efficient transport of pharmaceutical products directly to consumers. This trend is expected to further drive demand for tertiary packaging over the forecast period.

Order a free sample PDF of the Pharmaceutical Packaging Market Intelligence Study, published by Grand View Research.

Permanent Magnets Market - Industry Size, Growth, Applications, Opportunities and Forecasts to 2030

 In 2023, the global permanent magnets market reached a valuation of USD 22.18 billion and is projected to grow at an 8.7% compound annual growth rate (CAGR) from 2024 through 2030. This growth is largely driven by the increasing demand for renewable energy sources like wind and solar power. Permanent magnets play a critical role in enhancing the efficiency of wind turbine generators, a key application area in this sector. Specifically, rare earth magnets such as Neodymium Ferrite Boron (NdFeB) are commonly used in wind turbines due to their high reliability and reduced maintenance needs.

In the United States, the demand for permanent magnets is anticipated to grow at a faster rate than that for ferrite magnets, driven by applications in high-tech sectors like robotics, wearable technology, electric vehicles (EVs), and wind energy. Following the 2008-09 economic downturn, the U.S. automotive industry has seen steady recovery, with a growing emphasis on electric vehicles. Notably, the adoption of plug-in electric vehicles has increased, spurred by innovations from prominent manufacturers including Tesla, Chevy, Nissan, Ford, Audi, and BMW. For example, Tesla began incorporating motors with neodymium magnets in 2018.

Despite this growth, the U.S. faces a supply challenge due to a limited number of domestic manufacturers for permanent motor magnets, leading to substantial imports. In 2023, the U.S. imported around 4 million pounds of automotive parts from China, a majority of which were electric motors. The ongoing trade tensions with China have raised concerns about access to essential rare earth materials. In response, the U.S. government has launched several initiatives, including funding mining projects under the Defense Production Act, aiming to bolster the domestic supply of rare earth materials and reduce dependence on imports.

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Material Segmentation Insights:

In 2023, ferrite materials dominated the permanent magnet market, capturing a revenue share of approximately 36.0%. Ferrite magnets are predominantly used in motor applications, accounting for over 65% of total ferrite magnet usage. Their application spans automotive motors (19%), appliance motors (14%), HVAC systems (12%), and various industrial and commercial motors (11%) as of 2022. Additional uses of ferrite magnets include loudspeakers, separation equipment, Magnetic Resonance Imaging (MRI), relays & switches, and lifting devices.

The Neodymium Iron Boron (NdFeB) segment is expected to be the fastest-growing segment by volume and revenue in the forecast period. Over the last five years, NdFeB magnets have expanded into various applications, including electric and hybrid vehicle motors, wind power generators, air conditioning compressors and fans, and energy storage systems. Another important material in this market is Alnico, an alloy made from aluminum, nickel, and cobalt. Prior to the discovery of NdFeB in the 1970s, Alnico-based magnets were the strongest available. According to Magnet Applications, Inc., the average energy density (BHmax) of Alnico magnets is 7 MGOe, which is higher than ferrite magnets but significantly lower than that of NdFeB magnets.

Order a free sample PDF of the Permanent Magnets Market Intelligence Study, published by Grand View Research.

Life Science Analytics Market Outlook to 2030: Top Manufacturer Analysis, Overview and Forecast Report

 In 2022, the global life science analytics market was valued at USD 9.0 billion and is projected to grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. Analytics is being increasingly adopted across the life science industry, which uses descriptive and reporting analytics for database building and relies on prescriptive and predictive analytics to estimate future trends and outcomes. This shift towards data-driven decision-making is expected to drive market growth. Another significant factor propelling growth is the influence of social media and the internet, which has increased patient engagement and accelerated the adoption of analytical solutions. Life science organizations and healthcare facilities are adopting these solutions to improve clinical, financial, and operational results, aiming to reduce healthcare expenses, a key market driver.

Life science organizations are implementing advanced analytics across functions, including supply chain management, R&D, clinical trial design, regulatory compliance, sales, marketing, and pharmacovigilance. Data mining and big data analytics are also being rapidly adopted to analyze high-risk populations more effectively and to strategize accordingly, further driving market expansion. Additionally, healthcare financing organizations and government bodies are leveraging predictive analytics in claims management and fraud prevention, which continues to boost growth.

The Covid-19 pandemic highlighted the limitations of existing healthcare systems, showcasing the potential of advanced technologies in supporting the digitalization of healthcare. Consequently, demand for life science analytics surged as these solutions played a vital role in managing vaccines, medical supplies, medicines, and other essential resources during the pandemic.

Gather more insights about the market drivers, restrains and growth of the Life Science Analytics Market

For instance, Moderna entered a partnership with IBM to efficiently manage their vaccination program using advanced analytics and hybrid computing. Moreover, the increasing prevalence of non-communicable diseases, coupled with the growing global geriatric population and growing demand for enhanced patient care experience, is anticipated to contribute to the growing demand for analytical solutions over the forthcoming years. Life science organizations and other healthcare industry players are using analytical solutions in advanced revenue cycle management and population health management programs.

Analytical solutions are being adopted to cater to the rising demand for personalized medication using different human genome combinations using datasets generated through eHealth, mHealth, and electronic health records (EHR). The use of analytical solutions is focused on improving the patient care experience. Furthermore, market players are devising strategies to integrate artificial intelligence-based algorithms into data analytics to efficiently mine data from health datasets, which would aid organizations in customizing different treatment approaches.

Component Segmentation Insights:

In 2022, the services segment led the life science analytics market, accounting for over 57.1% of total revenue. This dominance is largely due to a growing trend of outsourcing services, including planning, training, staffing, implementation, and maintenance, as life science organizations often lack the expertise and resources for in-house analytics management. The services segment is expected to grow at a fast rate of 8.1% over the forecast period, with its rapid growth attributed to multi-service packages offered by outsourcing companies to major industry players.

The increased digitalization of healthcare and the advancement of healthcare IT infrastructure across both developed and emerging markets are boosting demand for analytics solutions and associated services. Rising digital literacy and supportive government initiatives further promote this demand. Additionally, the integration of artificial intelligence (AI) algorithms in analytical solutions and the widespread adoption of big data analytics are fueling the services segment. The emergence of new startups, increasing technological collaborations, and favorable funding options also positively impact this segment's growth, which is expected to continue strongly over the forecast period.

Order a free sample PDF of the Life Science Analytics Market Intelligence Study, published by Grand View Research.

Smart Cities Market Dynamics, Growth Prospect and Consumption Analysis till 2030

 The global smart cities market was valued at approximately USD 748.7 billion in 2023 and is expected to expand at a robust compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. Several factors are driving this growth, including rapid urbanization, the need for efficient management of resources, heightened public safety concerns, and the demand for energy-efficient environments. Additionally, the COVID-19 pandemic underscored the importance of urban resilience and public healthcare, revealing the dependency of global economies on urban infrastructure and emphasizing the potential role of smart cities in safeguarding public health.

As a result, many organizations are turning to emerging technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) to address urban challenges. These technologies enable city infrastructure to become more interconnected and responsive, offering real-time solutions for traffic, energy, and healthcare, among other sectors. As urban populations grow, the need for sustainable infrastructure becomes increasingly critical, driving governments to implement smart city initiatives across key areas, including mobility, utility management, public safety, and urban administration.

Gather more insights about the market drivers, restrains and growth of the Smart Cities Market

Local governments play a significant role in driving these initiatives, often fostering organizational and institutional transformations that attract investments and promote collaboration across industries. In this landscape, a new model of public-private partnerships has emerged, facilitating cooperation between governments and private businesses to develop and maintain smart city infrastructure. Additionally, innovative financing and governance models are key in scaling infrastructure projects, supporting ongoing growth in the smart cities market.

The growth of smart cities is also fueled by the adoption of advanced technologies, including nanotechnology, Artificial Intelligence (AI), Machine Learning (ML), cloud computing, IoT, cognitive computing, big data analytics, and open data platforms. Emerging business models, such as Build-Own-Operate (BOO), Build-Operate-Transfer (BOT), Original Brand Manufacturer (OBM), and Bill of Material (BOM), are increasingly applied to smart city projects, enhancing their implementation and operational success. In Asia, countries are aggressively promoting digital technologies for smart city applications while addressing consumer data privacy concerns, and governments worldwide are initiating various programs to accelerate market growth further.

Application Segmentation Insights:

The smart utility segment led the market with a share exceeding 28% in 2022. This segment is central to city infrastructure, encompassing areas such as water treatment, energy distribution, consolidated data management, and civil distribution infrastructure management. The rise of smart grids, which use advanced data analytics and cloud technology, is a major factor driving the adoption of smart utilities. With the surge in global energy demand, companies and governments are prioritizing strategies to increase the share of renewable energy in the overall energy mix, which supports the growth of the smart utility segment.

Meanwhile, the environmental solutions segment is projected to grow at a remarkable CAGR of 28.8% through the forecast period. This expansion is driven by increasing government initiatives aimed at reducing pollution, optimizing renewable energy use, and creating a sustainable ecosystem. Industry players are also focusing on expanding their environmental solutions portfolios, as these solutions contribute to brand identity and increase revenue potential. For instance, in December 2021, SENSORO, an IoT and AI solutions company, launched the Environmental, Social, and Governance (ESG) brand SENSORO Solution, offering climate monitoring, garbage classification, and ecological protection services. Such developments highlight the growing market potential for environmental solutions within smart cities as governments and corporations alike prioritize sustainability.

Order a free sample PDF of the Smart Cities Market Intelligence Study, published by Grand View Research.

Metalworking Fluids Market Growth Analysis, Trends Forecast by Regions and Types to 2030

 The global metalworking fluids (MWFs) market, valued at USD 12.17 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. This growth is expected to be fueled by rising demand for automotive and heavy industry machinery, as well as significant activity in sectors like machinery, metal fabrication, and transportation equipment. These industries are primary drivers of MWF demand, as they rely on these fluids for effective machining and metalworking processes. The production of MWFs involves crude oil as a fundamental raw material. Refined, processed, and blended from crude oil, the base oils in MWFs make up approximately 40% of the total cost of these fluids. Key products like neat cutting oils, soluble oils, and corrosion-preventive oils are developed from this crude oil refining and heating process, which is essential for producing motor oils, lubricants, and MWFs.

The MWF market benefits substantially from the growth of the automotive industry, where MWFs play a critical role in reducing friction between work pieces and tools, removing metal chips, ensuring high surface quality, and extending tool life. This ultimately increases the efficiency and productivity of machining processes, meeting high production demands. Consequently, the demand for MWFs is expected to remain steady as these industries expand.

In North America and Europe, manufacturing is a key sector, driving MWF demand due to advancements in manufacturing techniques for complex products and the high export rate of equipment for construction, power, agriculture, and automotive applications. The strong growth of end-use industries in Asia Pacific also contributes to MWF demand in North America and Europe, as more consumers in Asia Pacific increasingly opt for advanced machinery across sectors like automotive, agriculture, and construction.

Gather more insights about the market drivers, restrains and growth of the Metalworking Fluids Market

The global market is highly competitive, with the big international brands focusing on developing long-term relationships with end-users. With a rise in the manufacturing, automotive, and transportation sectors, the competition is also anticipated to increase in the coming years. Companies such as Houghton International Inc., BP plc, Exxon Mobil Corporation, and Total SA have a high degree of integration across the value chain as they are also engaged in producing various MWFs. These companies have established themselves as key manufacturers and focus on R&D for novel product uses. 

The metalworking fluid market trend is being driven by increased demand for automotive and heavy industry, as well as the growing preference for lightweight components in high performance applications such as heavy machinery, transportation equipment, automotive and construction.

Product Segmentation Insights:

The mineral-based MWFs segment accounted for the largest market share in 2023, representing over 48.06% of total market revenue. Mineral oils are widely used due to their cost-effectiveness, making them popular among small- and medium-sized manufacturers who prioritize affordability. This trend is expected to support stable growth in mineral oil-based MWFs over the forecast period. Mineral oils find applications in various machining processes, including turning, grinding, broaching, drilling, and milling, due to their basic yet reliable performance characteristics.

On the other hand, synthetic MWFs are expected to experience the highest CAGR during the forecast period. These synthetic fluids offer several advantages, such as extending tool life, improving surface finishes, and minimizing friction, making them highly suitable for precision applications. Synthetic oils also provide benefits like reducing waste and extending sump life, which is critical in large-scale manufacturing. As a result, synthetic MWFs have seen a steady increase in adoption, particularly among large-scale manufacturers, and this growth is projected to continue as demand rises for higher-performance fluids.

In recent years, semi-synthetic MWFs have gained traction in many countries, contributing to the overall penetration of synthetic MWFs. Additionally, the growing concerns over environmental impacts associated with petroleum-based products have led to stringent environmental regulations and government initiatives promoting sustainable alternatives. Consequently, the production of bio-based MWFs has surged, offering a more environmentally friendly option that meets regulatory requirements and aligns with the industry's push toward sustainability.

Order a free sample PDF of the Metalworking Fluids Market Intelligence Study, published by Grand View Research.

Masterbatch Industry Size & Share Analysis by Type and Region, Forecast Report, 2030

 In 2023, the global masterbatch market size was valued at USD 6.24 billion and is projected to grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030. This growth is anticipated to be driven by the increasing substitution of metal components with plastic in end-use industries such as automotive and transportation, building and construction, consumer goods, and packaging. Plastics are preferred in these sectors due to their versatility, reduced weight, and cost-effectiveness compared to metals, which is expected to fuel demand for masterbatch products over the forecast period.

Masterbatch products are available in both solid and liquid forms and are integral in coloring and enhancing various properties of polymers. These products impart key attributes like antistatic, antifog, antilocking, UV stabilizing, and flame retardation qualities to polymers, making them more suitable for a wide range of applications. The product is commonly used with carrier polymers, including polypropylene, polyethylene, polyvinyl chloride, and polyethylene terephthalate, which are widely employed in manufacturing processes like injection molding and extrusion.

The packaging industry in the United States is anticipated to be a significant driver of market growth, with rising demand fueled by the expansion of the e-commerce sector. The U.S. currently has around 16,806 plastic manufacturing facilities spread across all 50 states, highlighting the extensive production infrastructure available for plastics. The increasing application of plastic across various sectors, such as consumer goods, construction, and automotive, is also expected to boost demand for masterbatches in the coming years. Additionally, consumer goods manufacturers are focusing on designing appealing product packaging to attract customers and drive sales. Different types of masterbatches are blended with polymers to create eye-catching packaging, thus propelling the demand for masterbatches in the forecast period.

Gather more insights about the market drivers, restrains and growth of the Masterbatch Market

Type Segmentation Insights:

In terms of product type, black masterbatch dominated the market in 2023, with a revenue share of 28.48%. This demand can be attributed to the high usage of black masterbatch in products like tires, PVC containers, and other components across the automotive, transportation, construction, agriculture, and packaging industries. The agricultural sector, in particular, uses black masterbatch in products such as drip irrigation tubing, greenhouse films, shade cloth, and geomembranes, all of which are anticipated to contribute to market growth during the forecast period.

The demand for color masterbatches is also expected to rise, as color serves as a key differentiator in product marketing. Color masterbatches allow for extensive customization, enabling manufacturers to create products with visually appealing appearances that stand out in the market. This trend toward differentiation and personalization is likely to drive further demand for color masterbatches, catering to consumer preferences for distinct and attractive product designs.

Order a free sample PDF of the Masterbatch Market Intelligence Study, published by Grand View Research.

Lithium-ion Battery Market Product Driving Factors, Capacity and Growth Rate Analysis to 2030

 The global lithium-ion battery market, valued at approximately USD 54.4 billion in 2023, is set to expand significantly, with a projected compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. This growth is driven primarily by the automotive sector, which is poised for notable expansion due to the cost-effectiveness of lithium-ion batteries. The adoption of electric vehicles (EVs) worldwide is anticipated to surge throughout the forecast period, further boosting demand for lithium-ion batteries.

The United States led the North American lithium-ion battery market in 2023, largely due to increasing EV sales supported by favorable federal policies and the presence of numerous industry players. U.S. federal policies encouraging EV adoption include the American Recovery and Reinvestment Act of 2009, which offers tax credits for electric vehicle purchases. Additionally, updated Corporate Average Fuel Economy (CAFE) standards have introduced stricter fuel economy requirements for passenger cars and light commercial vehicles (LCVs), promoting the expansion of electric drive technologies.

Gather more insights about the market drivers, restrains and growth of the Lithium-ion Battery Market

The rising demand for lithium-ion batteries extends beyond the automotive sector to the electronics industry, where these batteries are widely used in smartphones. Lithium-ion batteries provide longer shelf life and greater efficiency for devices, further propelling market growth. Furthermore, increasing consumer awareness about carbon emissions is driving demand for EVs, which is expected to fuel lithium-ion battery market growth. Regulatory restrictions on lead-acid batteries in response to environmental concerns such as the Environmental Protection Agency's (EPA) restrictions on lead contamination and regulations regarding the storage, disposal, and recycling of lead-acid batteries are contributing to the shift towards lithium-ion batteries in automotive applications. Mexico, as a significant hub in the global automotive industry, is becoming a focal point for international investments, adding further momentum to the growth of the lithium-ion battery market.

Product Segmentation Insights:

The lithium-ion battery market is segmented by product types, which include Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), and Lithium Nickel Manganese Cobalt (NMC). Among these, the LCO segment held the largest market share, accounting for over 30% of total revenue in 2023. This strong demand for LCO batteries is largely driven by their high energy density and safety features, making them ideal for use in mobile devices like smartphones, tablets, laptops, and cameras.

Lithium iron phosphate (LFP) batteries are gaining popularity due to their excellent safety profile and long lifespan, which make them suitable for high-load and enduring applications in both portable and stationary devices. The demand for NCA batteries is also rising due to their high specific energy, specific power, and long-life span, qualities that make them a preferred choice in electric vehicles, medical devices, and various industrial applications. Lithium titanate (LTO) batteries are increasingly being utilized in applications such as electric powertrains, street lighting, uninterruptible power supplies (UPS), and solar-powered streetlights. LTO batteries are known for their superior safety, strong performance at low temperatures, and long life, which is expected to bolster their market share over the forecast period.

Order a free sample PDF of the Lithium-ion Battery Market Intelligence Study, published by Grand View Research.

Identity And Access Management Market Key Players, Supply and Consumption Demand Analysis to 2030

 The global identity and access management (IAM) market was valued at USD 15.93 billion in 2022, with expectations to grow at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030. IAM solutions provide a critical framework that ensures only authorized individuals and roles within an organization can access necessary resources, applications, and tools to fulfill their duties effectively. This system enables organizations to manage user access across various applications without needing administrator-level access for every single app, simplifying user management and boosting security. With the rise in IoT and AI technologies, heightened awareness around regulatory compliance, and increased digital platform reliance, the demand for IAM solutions is anticipated to grow significantly over the forecast period.

With the rapid rise of cloud adoption and advanced digital technologies, instances of cyber fraud and other malicious activities are increasing. Consequently, businesses are implementing IAM systems that incorporate identity analytics and intelligence to monitor unusual account behaviors and alert administrators of potential threats. IAM systems help businesses identify and remove inactive accounts, detect policy violations, and remove unauthorized access privileges. This reduces security risks and fosters compliance with data protection and privacy regulations, which are growing concerns for enterprises of all sizes. IAM also offers cost-effective solutions for application administration by centralizing connectivity and simplifying identity modifications, ultimately enhancing user reliability and reducing administrative tasks associated with access management.

Gather more insights about the market drivers, restrains and growth of the Identity And Access Management Market

Moreover, the integration of IAM solutions with mobile device management (MDM) further enhances their functionality and ensures comprehensive control over mobile access. MDM is an essential component of IAM, enabling administrators to control applications and users on mobile devices securely. Given that IAM is used on multiple device types, extending it to mobile devices becomes a critical need for organizations. MDM supports this by facilitating app provisioning, enforcing device security policies, and protecting each connected device, thereby improving overall security. Together, IAM and MDM create a robust security system for user identity and device control, providing flexibility and enhanced security for businesses with a mobile workforce.

Component Segmentation Insights:

The IAM market is categorized into several components, including audit, compliance & governance, directory service, multifactor authentication, provisioning, password management, and single sign-on (SSO). Among these, the provisioning segment led the market in 2022, accounting for over 29.70% of the total revenue. Provisioning services are vital because they add an extra security layer by authenticating and granting individual users controlled access to an organization’s information systems. This added security has bolstered the adoption of provisioning solutions, helping businesses protect sensitive data and restrict access only to verified users.

Multifactor authentication (MFA) is projected to grow at the fastest CAGR over the forecast period. MFA enhances security by requiring users to present multiple credentials (such as a password and a secondary code or biometric verification) before accessing applications. This added security layer significantly strengthens access control and reduces unauthorized access risks. Consequently, a growing number of businesses across diverse industries are adopting MFA to secure sensitive applications and data. With cyber threats on the rise, the demand for MFA is likely to continue to accelerate as organizations prioritize enhanced security measures to protect their operations.

The overall growth trajectory of the IAM market reflects an increasing demand for secure, scalable, and user-friendly access management solutions as digital platforms become more critical to business success. As the market evolves, IAM will continue to play a key role in helping organizations enhance security, ensure regulatory compliance, and improve operational efficiency.

Order a free sample PDF of the Identity And Access Management Market Intelligence Study, published by Grand View Research.

Vertical Farming Market Analysis by Key Players, Sales Forecast and Supply Demand to 2030

 The global vertical farming market was valued at USD 6.92 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 20.1% from 2023 to 2030. This rapid growth is driven by the increasing adoption of eco-friendly farming methods for producing fruits and vegetables, as well as the rising demand for urban agriculture due to the unprecedented growth of the global population. Vertical farming involves producing food in vertically stacked layers, typically in warehouses, skyscrapers, or shipping containers. It is often associated with organic foods, which are perceived as healthier, more nutritious, safer, and more environmentally friendly. The growing consumer preference for organic food, along with the increased awareness of its health benefits, influences purchasing behavior, making it critical for producers, policymakers, and suppliers to devise effective marketing strategies.

The prevalence of health-related issues, such as obesity and heart disease, has increased the demand for healthier food options, and vertical farming offers a solution by providing fresh, nutritious produce. Additionally, the depletion of groundwater and changing climatic conditions have pushed traditional growers to explore alternative farming methods. These factors, combined with rising consumer concerns about health and sustainability, are expected to drive the growth of the vertical farming industry.

Gather more insights about the market drivers, restrains and growth of the Vertical Farming Market

Component Segmentation Insights:

The vertical farming market is segmented into hardware, software, and services based on components. In 2022, the hardware segment held the largest market share, playing a crucial role in maintaining controlled environments for vertical farming. The hardware segment includes categories such as lighting, hydroponic components, climate control systems, and sensors. Among these, the lighting segment accounted for more than 44.46% of global hardware revenue in 2022. This dominance is primarily due to the reliance of vertical farms on artificial lighting, which ensures sufficient light intensities for crop growth. LED lighting technology is particularly popular because it provides uniform light, reduces heat stress on the plants' root zones, and ensures increased productivity with minimal energy consumption.

The climate control segment is expected to register the highest CAGR of 20.6% during the forecast period. Climate control in vertical farming allows farmers to manage and monitor essential environmental factors like light, carbon dioxide, water, humidity, pH levels, and nutrients, providing optimal growth conditions for crops. By using climate control, growers can protect their crops and ensure consistent growth throughout the development cycle. This method ensures that plants receive the exact nutrients and environmental conditions required to thrive.

Hydroponic components are also gaining popularity due to their ability to reduce the weight load and infrastructure needed to support farming equipment. In hydroponic systems, plants grow without soil, relying on nutrient-rich water instead. This method has become an essential part of vertical farming because it maximizes space and minimizes the resources required for crop production.

Sensors play a vital role in vertical farming by monitoring external conditions and crop health. Different types of sensors, including nutrient sensors, humidity sensors, and light sensors, are used to provide detailed information about crop growth and environmental conditions. The use of sensors enables real-time monitoring and alerts for necessary adjustments, helping farmers ensure optimal growth conditions for their crops.

Automation is another key aspect of vertical farming, aiming to reduce time to market, cut production and distribution costs, lower environmental impact, and maintain consistent, high-quality production. The Internet of Things (IoT) has become a mainstream technology in agriculture, revolutionizing farming practices by enabling automation and real-time data monitoring. The adoption of IoT in vertical farming enhances efficiency and accuracy, allowing farmers to manage their operations remotely and make data-driven decisions.

The software segment is expected to exhibit a CAGR of 23.4% from 2023 to 2030, driven by advances in technology and farming practices. Software solutions in vertical farming are used to track essential information such as grower data, crop batches, land usage, and supplier details for fruits and vegetables. Cloud-based software systems collect millions of data points in real-time, which can be analyzed using machine learning techniques. These analyses help farmers understand how specific changes in environmental factors, such as temperature, humidity, and light, can affect crop yields and the flavor of the final products. This capability is expected to significantly boost the vertical farming market's growth in the coming years as farmers increasingly adopt data-driven methods to improve productivity and product quality.

In summary, the vertical farming market is experiencing rapid growth due to its ability to meet the rising demand for fresh, healthy, and sustainably produced food in urban environments. Advances in hardware, automation, and software technologies are expected to drive further innovation and adoption of vertical farming practices, making it a key solution for addressing global food production challenges in the future.

Order a free sample PDF of the Vertical Farming Market Intelligence Study, published by Grand View Research.

Smart Factory Market Analysis, Top Key Players, Drivers and Trends by Forecast to 2030

 The global smart factory market was valued at approximately USD 130.25 billion in 2022 and is forecasted to grow at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030. The growth of this market is being driven by several critical factors, including an increasing focus on energy efficiency, the need for enhanced manufacturing productivity, and the establishment of advanced manufacturing infrastructures. These drivers are shaping the industry's future and making smart factories more attractive to businesses. Furthermore, the growing adoption of collaborative robots (cobots) and continuous advancements in 3D printing technologies are expected to open new opportunities for the market during the forecast period.

A major component of the smart factory market’s growth is the role of artificial intelligence (AI) and machine learning (ML). These technologies are proving to be pivotal in revolutionizing manufacturing processes, as they enable predictive maintenance, quality control, and process optimization. AI-driven analytics can extract valuable insights from massive datasets, which in turn helps manufacturers make informed, data-driven decisions to enhance their operations. As AI technologies evolve and improve, their integration into smart factories is projected to deepen, contributing to greater efficiency and innovation in manufacturing processes.

Another significant trend within the smart factory market is the adoption of Industry 4.0 principles. Industry 4.0 represents the integration of advanced digital technologies such as the Internet of Things (IoT), big data analytics, and automation into manufacturing operations. Smart factories are capitalizing on these technologies to optimize production processes, boost product quality, and increase overall operational efficiency. This trend is expected to continue, as manufacturers seek to remain competitive in an increasingly globalized and digital-driven market environment.

Gather more insights about the market drivers, restrains and growth of the Smart Factory Market

Technology Segmentation Insights:

Among the various technologies employed in smart factories, the distributed control systems (DCS) segment accounted for a substantial market share of over 17% in 2022. DCS technology is crucial for industrial automation and process optimization, making it a key enabler of modern manufacturing. One of the major advantages of DCS is its scalability, which allows it to integrate seamlessly with emerging technologies such as IoT and the principles of Industry 4.0. This flexibility, combined with the capability for remote monitoring and control, proved particularly beneficial during the COVID-19 pandemic, when remote operations became more vital. DCS also contributes to safety compliance, energy efficiency, and the modernization of legacy control systems, aligning with the broader industry trends that focus on sustainability, efficiency, and digital transformation in production environments.

The human-machine interface (HMI) technology segment is expected to see the highest CAGR of 12.6% over the forecast period. This growth can be attributed to the enhanced user experience and operational efficiency that HMIs bring to smart factories. HMIs have evolved significantly, offering intuitive and user-friendly interfaces, often featuring touchscreens and gesture controls. These improvements make interactions between operators and machines more efficient and accessible. As the complexity of smart factory systems increases, the demand for advanced HMI solutions that facilitate seamless human-machine interactions and data visualization is on the rise. This demand is expected to drive the significant growth of the HMI technology segment in the coming years.

Order a free sample PDF of the Smart Factory Market Intelligence Study, published by Grand View Research.

Protein Ingredients Market 2030: Report Focusing on Opportunities, Revenue & Market Driving Factors

 The global protein ingredients market was valued at USD 77.69 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. The market is gaining significant momentum due to the increasing demand for food products like margarine, cold cuts, bakery items, spreads, yogurt, and milk sausages, all of which are produced using protein ingredients. The rising consumption of these protein-rich products among health-conscious consumers, particularly the elderly, is further fueling market growth. Additionally, manufacturers are innovating and developing various proteins with a broad range of amino acids that serve specific functions, such as promoting satiety, muscle repair, weight loss, and energy balance, which opens up more growth opportunities for the market in the forecast period.

The industry has witnessed a notable increase in the consumption of animal-based products recently, and animal protein is expected to see continued growth, especially in the U.S. The strong domestic demand for animal-derived products is expected to drive the need for protein ingredients further. Companies involved in the production and supply of these ingredients are strengthening their distribution networks to ensure better market penetration, a factor that is expected to boost the industry's growth over the next several years.

Gather more insights about the market drivers, restrains and growth of the Protein Ingredients Market

Product Segmentation Insights:

In terms of product types, the animal/dairy protein segment dominated the market, accounting for a revenue share of 78.94% in 2022. This segment's growth is primarily driven by the high demand for premium-quality proteins across sectors such as food and beverages, animal feed, and personal care. Animal proteins are considered complete sources of protein because they contain all the essential amino acids the human body requires, making them a preferred choice for consumers aiming to maintain a healthy lifestyle. The numerous health benefits of animal protein ingredients have been well-supported by scientific research and endorsed by regulatory authorities. For example, whey protein has been shown to boost glutathione (GSH) levels, which enhances nutritional status and immune function in cancer patients undergoing chemotherapy.

The animal protein segment is expected to grow at a moderate CAGR of 4.4% during the forecast period, driven by its use in the animal feed industry, where it is employed as a supplement to promote the health and growth of livestock. In the personal care sector, animal proteins are incorporated into hair and skincare products to improve the texture and appearance of hair and skin. Among animal proteins, egg protein held the largest share (43.28%) in 2022, as eggs are a rich source of high-quality protein. Each egg contains approximately 6-7 grams of protein, with both the whites and yolks contributing to this amount. Eggs also offer numerous other health benefits, such as being low in calories and high in essential nutrients like choline, iron, and vitamins A, D, E, and B12. The versatility of egg protein, which can be incorporated into a wide range of food products (e.g., baked goods, sauces, and dressings), further drives its popularity among consumers.

Plant Proteins -

Plant proteins are expected to grow at a significant CAGR of 9.1% during the forecast period. This growth is driven by the increasing preference for plant-based diets, which are seen as healthier and more sustainable than animal-based diets. Plant proteins are also relatively inexpensive, which is expected to further boost demand in the coming years. The growing trend of veganism, particularly in North America and Europe, is also contributing to the rise in consumption of plant-based protein ingredients. Soy and wheat proteins are particularly popular as they are perceived to offer numerous health benefits.

Cereal-based proteins are also expected to see significant growth, particularly in the personal care and cosmetics industries. For example, corn-based ingredients are used as skin and hair conditioning agents, abrasives, absorbents, and binders in a variety of products, including facial makeup, fragrances, hair care products, hair dyes, and even oral care products.

Insect Proteins -

Insect proteins represent the fastest-growing segment in the market, with a projected CAGR of 26.4% over the forecast period. Protein derived from insects, such as crickets, has found increasing use in various applications, particularly in nutritional bars where it is added in powder form to boost nutritional value and flavor. Companies like Crik Nutrition source insect proteins from farms that adhere to strict guidelines, ensuring that the crickets used are of the highest quality for human consumption.

Research at Wageningen University suggests that waste generated from insect-rearing could be used to promote sustainable agriculture. The exoskeletons of insects are rich in chitin, a compound that can be metabolized by certain bacteria to enhance plant resilience against pests and diseases. Insects are highly efficient to farm, producing ten times as much edible protein per kilogram of grass compared to traditional livestock. This ability to produce more protein with fewer resources positions insect-rearing as an integral component of a circular food system, one in which waste is minimized and sustainability is maximized.

The combination of rising health-conscious consumer behaviors, innovations in protein ingredient development, and the drive for sustainable, eco-friendly food sources will continue to fuel the growth of the global protein ingredients market over the forecast period.

Order a free sample PDF of the Protein Ingredients Market Intelligence Study, published by Grand View Research.