Lactic Acid Market Analysis, Growth Drivers, Key Findings and Trends by Forecast to 2027

Lactic acid is an organic acid produced during the process of fermentation. It is used in various industries including food & beverages, pharmaceuticals, personal care, and biodegradable polymers. The multi-functionalities of lactic acid render its use in various industries. In the food & beverages industry, lactic acid is used as a preservative, curing agent, and flavoring agent. Surging global demand for processed food is boosting the application of lactic acid in the food industry. In meat, poultry, and seafood products, it is majorly used as a decontaminant. In the personal care industry, lactic acid is mainly used in anti-ageing and skin lightening products as it treats hyperpigmentation and age spots.

Surging demand for lactic acid is attributed to its multi-functionalities. Lactic acid holds multiple functionalities as it is used as a catalyst, food emulsifier, and substitute for toxic chemicals, and plastics. Lactic acid plays an indispensable role as a catalyst in the processing of various industrial products. The use of lactic acid as a substitute for toxic chemicals and plastics, especially in food & beverages and pharmaceuticals, is bolstering the lactic acid market growth. Lactic acid is usually preferred over synthetic chemicals in the food & beverages sector, as they alter the flavor and texture of products while enhancing their shelf life. Lactic acid is used to produce cheese flavors in the dairy industry. Furthermore, in the brewing industry, lactic acid promotes starch conversion in beer, hence increasing the yield. In the baking industry, lactic acid helps control the dough's acidity and enhances the shelf life of baked products. Additionally, lactic acid is also used to produce emulsifiers, such as calcium and sodium stearoyl lactylates, which function as dough conditioners. Hence, the lactic acid's multi-functionality is the prime factor anticipated to drive the lactic acid market growth during the forecast period.

Corbion; Cargill Inc.; Foodchem International Corporation; Galactic; Henan Xinghan Biotechnology; Musashino Chemical Laboratory, Ltd.; Shandong Baisheng Biotechnology Co., Ltd.; Jungbunzlauer Suisse AG; Henan Jindan Lactic Acid Technology Co., Ltd.; and Vigon International, Inc. are among the well-established players in the lactic acid market.

According to our latest market study on “Lactic Acid Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Form (Dry and Liquid) and Application (Food & Beverages, Pharmaceuticals, Personal Care, and Others),” the market was valued at US$ 1,069.84 million in 2019 and is projected to reach US$ 2,217.88 million by 2027; it is expected to grow at a CAGR of 9.6% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players, along with their developments, in the market.

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The report includes the segmentation of the global lactic acid market as follows:

Lactic Acid Market, by Form

• Dry
• Liquid

Lactic Acid Market, by Application

• Food & Beverages
• Pharmaceuticals
• Personal Care
• Others

Lactic Acid Market, by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
• Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Portable Power Station Market Regional Analysis, Competitive Landscape and Forecast to 2027

The global portable power station market is segmented on the basis of type, capacity, application, battery, and geography. Based on type, the market is bifurcated into direct power and solar power. Based on capacity, the market is segmented into below 500 Wh, 500–1500 Wh, and above 1500 Wh. By application, the global portable power station market is segmented into emergency power, off-grid power, and others. Based on battery type, the market is bifurcated into sealed lead-acid and lithium-ion.

Camping is becoming a popular leisure activity in the US, and over 40.5 million people participated in these activities in 2016. This number encompasses travelers who camp in automobiles and tents, recreational vehicles, and backyards. A portable power station can be used to power a mini-fridge to keep meat and seafood fresh and light up the camping venue. According to the North American Camping Report of 2019, the annual count of camper households in the US has climbed by 7 million since 2014, and the percentage of people preferring camping activities has increased by 72%. In addition to the increasing number of new campers, 38% of the Gen X population and 32% of millennials have begun to go camping regularly. According to Tourism Research Australia, total tourism in 2019 accounted for US$ 152 billion, which includes both domestic and foreign tours. People visiting hotels, motels, and resorts accounted for 24% of visitors in Australia, followed by those going caravanning and camping, which accounted for 14%. According to Eurostat, the UK, France, Germany, Italy, and the Netherlands account for two-thirds of all European campsites. Demands for laptops, cellphones, rechargeable trekking headlights, camping lamps, fridges, and cooler backpacks are growing with an urge among millennials to stay connected to the real world while camping. All of these devices require power to function, which justifies the potential for portable power stations.

According to our latest market study on “Portable Power Station Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Capacity, Application, and Battery Type,” the market was valued at US$ 211.03 million in 2021 and is projected to reach US$ 295.91 million by 2028; it is expected to grow at a CAGR of 4.9% from 2021 to 2028.

In remote locations of developing countries, traditional centralized networks are incapable of addressing the basic, cost-effective electricity needs in time. The potential of remote and dispersed power systems to supply electricity across the world is supporting the portable power station market growth in developing countries. Concerns about CO2 and greenhouse gas emissions have attracted considerable global investments in renewable energy generation. Portable power stations are frequently utilized to store renewable energy and deliver electricity when needed. Thus, the global portable power stations market is predicted to grow during the forecast period as a result of the technological transformations in renewable energy generation. The AC inlet and USB socket on the portable power station constitute a reliable power source. Furthermore, power stations are gaining further popularity as their reach can be extended to remote locations. As a result, a large number of customers are prepared to invest in a portable power station for personal use, which is driving the portable power station market progress.

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Midland Radio Corporation; ALLPOWERS Industrial International Co., Ltd.; ChargeTech; EcoFlow; Drow Enterprise Co., Ltd.; Duracell Inc.; Goal Zero; Jackery Inc.; SHENZHEN CHAFON TECHNOLOGY CO., LTD; Lion Energy LLC; and Hyundai Power Products are among the key players profiled during the study of the portable power station market. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global market and its ecosystem.

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Bacon Market Share, Size, Key Players, Trends, Competitive And Regional Forecast To 2027

 Bacon refers to the sides and belly portion of the pig’s body that is cured and smoked. Bacon is versatile in terms of cooking and helps in increasing the flavor of dishes. When wrapped around lean meats, it proffers moisture while it is cooked. Development in meat processing technologies and an increase in the demand for meat protein, the bacon market has experienced tremendous growth during the past years. The upsurge in demand for pizza, sandwiches, and hamburgers has also bolstered the bacon market growth. However, bacon contains some amount of fats and sodium that increases the risk of heart diseases and blood pressure. This restricts the demand for bacon. Development in new products like turkey bacon is expected to provide lucrative opportunities to the bacon market in the upcoming years.

The rapid rise in population expansion, along with increased urbanization and focus toward improved quality of life in has led to increased demand for food products at an unprecedented pace in the last few decades. The livestock industry plays an important role in meeting out the growing demand. There is a strong correlation between the level of income and the demand for animal protein. With the rise in disposable income, the demand for animal protein is set to increase, which would lead to an increase in the consumption of animal-based products such as meat, bacon, and others. Further, with the decline in the prices of meat products, the emerging economies are embarking upon the rising consumption of meat and meat products.

According to our latest market study on "Global Bacon Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Nature (Organic, Conventional); Source (Pork, Beef, Turkey, Chicken); Type (Dry Cured, Immersion Cured, Pumped Bacon); Distribution Channel (Supermarkets and Hypermarkets, Independent Retailers, Food Service, Others), and Geography," the market was valued at US$ 27,419.94 million in 2018 and is projected to reach US$ 40,004.6 million by 2027; it is expected to grow at a CAGR of 4.3% from 2019 to 2027.The report highlights key factors driving the market growth and prominent players and their developments in the market.

Applegate Farms, LLC, Farmland Industries, Inc., Foster Farms, Inc., Hormel Foods Corporation, JBS S.A, Karro Food Group, Organic Prairie, OSI Group, Smithfield Foods, Inc., and True Story Foods are some of the well-established players present in the global baconmarket.

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The report includes the segmentation of the global bacon market as follows:

By Nature

• Organic
• Conventional

By Source

• Pork
• Beef
• Turkey
• Chicken

By Type

• Dry Cured
• Immersion Cured
• Pumped Bacon

By Distribution Channel

• Supermarkets and Hypermarkets
• Independent Retailers
• Food Service
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • Australia
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Middle East and Africa (MEA)
  • South Africa
  • Uganda
  • UAE
  • Rest of Middle East and Africa
• South America
  • Brazil
  • Argentina
  • Rest of South America

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Adult Diapers Market Financial Overview and Growth Prospects Predicted by 2027

Adult diaper is made to be worn by an individual whose body is bigger than that of a baby or newborn child. Grown-up diapers are commonly utilized by older individuals who are experiencing different conditions such as dementia or extreme looseness of the bowels, versatility debilitation, and incontinence. Grown-up diapers are available in various sorts, for example, cushions which are known as incontinence cushions, underwear and the diapers that take after conventional diapers utilized for youngster. Asia Pacific held the largest share of the global adult diapers market. Based on product type, the global adult diapers market has been segmented into pant type, pad type, tape type, and others. The pant type segment dominated the global adult diapers market in 2018.Pant style adult diaper is the most popular diapers, which offers flexibility, and a breathable waistband, which makes it easy to use and enables air to pass, preventing rashes. It also enables the leg to pass down effortlessly, preventing side leakage, and its thin absorption sheet offers a good fit. Pant type is known for its capability to absorb huge quantities of wetness and moisture; it is made from spongy material that soaks up urinary discharge, and also feels comfortable and soft on the skin. These pant type diapers are convenient for both men and women with incontinence issues or mobility impairment. Companies across the world are highly focused on designing pant style diapers. For instance, Friends Diaper, an Indian company, offers premium pant style diapers for adults, designed for people who suffer from incontinence.

According to the latest market study on "Global Adult Diapers Market to 2027 – Covid-19 Impact, Analysis and Forecast by Product Type (Pant Type, Pad Type, Tape Type, Others); Distribution Channel (Pharmacies, Convenience Store, Online, Others); End-User (Household, Hospitals, Others); and Geography", accounted the market was valued at US$ 11,291.4 million in 2018 and is projected to reach US$ 32,859.2 million by 2027; it is expected to grow at a CAGR of 12.6% during 2019–2027. The report highlights key driving factors and also the prominent players and their developments in the market.

The increasing occurrence of incontinence and the growing elderly population are the significant factors propelling the growth of the adult diapers market. People in developing countries still live in unhygienic conditions, as they are not able to buy adult diaper products. Thus, various companies across the globe are providing cost-effective products tailored to conditions in each country and region. Further, in Japan, where population aging is significantly increasing compared to other countries, companies are looking to encourage wider endorsement and greater awareness of products in order to extend the healthy life expectancy of elderly people.

Kimberly-Clark Corporation.,Essity AB, Abena A/S, and Ontex Group and Health Care Products, Inc. are among the well-established players present in the global adult diapers market.

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The report segments the global adult diapers market as follows: 

By Product Type

• Pant Type
• Pad Type
• Tape Type
• Others

By Distribution Channel

• Pharmacies
• Convenience Store
• Online
• Others

By End-user

• Household
• Hospitals
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • Rest of Asia Pacific
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America
  • Brazil
  • Argentina
  • Rest of South America

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Biochar Market Revenue Growth Predicted by 2021-2028

Biochar is charcoal or high-carbon, fine-grained residue produced via pyrolysis. It is used as a soil conditioner and animal feed ingredient. Biochar is a stable solid that can abide in soil for thousands of years. Biochar reduces the leaching of E. coli through sandy soils depending on its application rate, feedstock, and pyrolysis temperature (i.e., 300–700°C); moisture content and texture of soil; and surface properties of the bacterial cells. Biochar can improve yields for plants that require high potash and elevated pH. These benefits associated with biochar bolstered its demand in the agriculture & feedstock industry.

According to our latest market study titled " Biochar Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Feedstock (Woody biomass and Agricultural Waste, Animal Manure, and Other Feedstock) and Application (Electricity Generation, Agriculture, Forestry, and Others)," the biochar market is projected to reach US$ 368.85 million by 2028 from US$ 177.06 million in 2021. It is expected to grow at a CAGR of 11.1% from 2021 to 2028.

Key players operating in the biochar market include Carbon Gold Ltd; Genesis Industries; Black Owl Biochar; Biochar Now, LLC; Airex Energie Inc.; Phoenix Energy; American Biochar Company; Bioforcetech Corp; ECOERA; PYROPOWER.

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Impact of COVID-19 Pandemic on Biochar Market

The COVID-19 pandemic has had a devastating impact on Latin America. A sharp decline in global and regional economic activities in 2020 strongly affected South American economies. Large percentage of national revenues in this region comes from international trade, and social restrictions in other countries hampered trade operations of  Latin American countries. Moreover, demand and supply of raw materials from the rest of the world dropped in 2020. Trading partners had to postpone investment decisions. Th Economic Commission for Latin America and the Caribbean (ECLAC) reports that the value of exports and imports of goods in the region decreased by 17% from January to May 2020, compared to the same period in 2019. However, after COVID-19 outbreak, industries are gaining ground as the governments of various countries eased out the previously imposed restrictions. Thus, the increasing demand for biochar from various industries such as agriculture, animal feed, water treatment, oil and gas to combat the COVID-19 pandemic is anticipated to drive biochar market growth in the coming years.On February 12, 2021, Vale SA, a Brazilian miner, replaced mineral coal used to produce iron ore pellets with biochar derived from vegetation to reduce greenhouse gas emissions. Such innovative actions are likely to help the biochar market players to revive their businesses in the coming years.

Segmentation of Biochar Market:

Based on feedstock, the biochar market is segmented into woody biomass and agricultural waste, animal manure, and other feedstock. In terms of application, the market is segmented into electricity generation, agriculture, forestry, and others. Based on geography, the biochar market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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Active Implantable Medical Devices Market Estimated to Record Highest CAGR by 2025

 As per The Insight Partners market research study named 'Active Implantable Medical Devices Market to 2025 - Global Analysis and Forecasts by Product and End User, the global active implantable medical devices market was esteemed at US$ 22,096.9 Mn in 2017 and is assessed to arrive at US$ 39,026.9 Mn by 2025. The market is assessed to grow with a CAGR of 7.9% from 2018-2025. The report features the trends prevalent in the global active implantable medical devices market and the factors driving the market along with those that go about as impediments to its growth.

The rising pervasiveness of cardiovascular illnesses, neurological issues and hearing problems, expanding mechanical headways and new product dispatches and enormous pool of geriatric populace are the main considerations that expected to impel the growth for the active implantable medical devices market in the gauge period. In any case, the significant expense of products and methodology and high pace of product reviews is supposed to go about as significant difficulties blocking the market growth at specific degree.

Global active implantable medical devices market fragmented into by product and end user. In view of product, the market is sectioned into implantable cardioverter defibrillators, implantable cardiovascular pacemakers, neurostimulators, implantable hearing devices, ventricular help devices and implantable heart screens/insertable circle recorders. The implantable cardioverter defibrillators fragment is further bifurcated into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. Based on end user, the active implantable medical devices market delegated medical clinics, wandering a medical procedure places and specialty centers.

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The major players operating in the active implantable medical devices market include Abbott, Medtronic, Cochlear Ltd., Boston Scientific Corporation, BIOTRONIK SE&Co, LivaNova PLC, MED-EL, Sonova, William Demant Holding A/S, Nurotron Biotechnology Co. Ltd. and among others. The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in July, 2017, Cochlear launched its iPhone cochlear implant sound processor. Additionally, in September 2017, Cochlear launched the Baha SoundArc which is the non-surgical bone conduction device.

Global Active Implantable Medical Devices Market – By End User

Hospitals
Ambulatory Surgery Centers
Specialty Clinics

Global Active Implantable Medical Devices Market – By Geography

North America
U.S.
Canada
Mexico

Europe
UK
Germany
France

Asia Pacific (APAC)
Japan
China
India

Middle East & Africa (MEA)
South Africa
UAE

South and Central America (SCAM)
Brazil

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Continuous Positive Airway Pressure (CPAP) Devices Market to Witness Comprehensive Growth by 2027

According to The Insight Partners market research study of Continuous Positive Airway Pressure (CPAP) Devices Market to 2027 - Global Analysis and Forecast by Type and End User, the global continuous positive airway pressure (CPAP) devices market is expected to arrive at US$ 4,481.41 million by 2027 from US$ 2,462.86 million out of 2019. The market is estimated to grow at a CAGR of 7.8% from 2020 to 2027. The report features trends prevailing in the global continuous positive airway pressure (CPAP) devices market and the factors driving market along with those that go about as hindrances.

In light of type, the global continuous positive airway pressure (CPAP) devices market is divided into programmed and manual. The programmed section held the biggest portion of the market in 2019 asthese are at first used for pressure titration. Auto-CPAP is set inside a highand low-pressure range to change inward breath needs. Additionally, this innovation has a delicate calculation that permits the machineto distinguish the inward breath pressure which patients need for with every breath.

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The continuous positive airway pressure (CPAP) devices market is expected to grow inferable from factors such asgrowing commonness of sleep apnearespiratory messes rising number of geriatric populace, and expanding predominance of corpulence. mechanical headway in continuouspositive airway pressure (CPAP) devices is probably going to have a positive effect onthe market before long.

3B Medical, Inc., Airing,Cardinal Health, DeVilbiss Healthcare LLC, Smiths Medical (Smiths Group Plc.),Koninklijke Philips N.V., Somnetics International, Inc. (Transcend), SleepnetCorporation, Circadiance, and ResMedare among the leading companies operatingin the continuous positive airway pressure (CPAP) devices market.

The report segments global continuous positive airway pressure (CPAP) devices market as follows:

By Type

• Automatic
• Manual

By End User

• EmergencyHealth Departments
• Hospitals

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
• Asia Pacific(APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Middle East& Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
• South &Central America (SCAM)
  • Brazil
  • Argentina

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The Perception Companions is a one cease trade analysis supplier of actionable intelligence. We assist our shoppers in getting options to their analysis necessities by means of our syndicated and consulting analysis companies. We concentrate on industries akin to Semiconductor and Electronics, Aerospace and Protection, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Building, Medical Gadget, Know-how, Media and Telecommunications, Chemical substances and Supplies.

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Dermatology OTC Medications Market to Expand with Significant CAGR by 2028

According to our latest study on "Dermatology OTC Medications Market Forecast to 2028 - COVID-19 Impact Analysis - by Product Type, Route of Administration, Indication, and Distribution Channel," the market is expected to grow from US$ 15,456.63 million in 2021 to US$ 21,313.40 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the dermatology OTC medications market.

The high prevalence of skin issues and rising income of the working class population are expected to support the global market growth. Nonetheless, the inappropriate use of OTC medications is restraining the growth of the dermatology OTC medications market. Skin issues, like pigmentation, wrinkles, creases, acne, and consume scars, are common among individuals. According to the American Academy of Dermatology Association (AADA), acne is the most common skin condition in the US, affecting ~50 million Americans annually. Additionally, ~85% of individuals from ages 12 to 24 experience minor acne issues. The expenses associated with acne treatment and lost human productivity among those receiving acne treatment surpassed US$ ~1.2 billion in 2013; more than ~5.1 million individuals, primarily kids and youthful adults were seeking medical treatment for acne in the same year. Further, 1 in 10 individuals creates atopic dermatitis, and it affects up to 25% of youngsters and 2-3% of adults, according to the AADA. In 2021, according to a survey conducted by Dermstore with 2,000 ladies across the US, young ladies started using products to decrease the indications of aging a whole lot earlier than more established ladies. Further, the European Commission (EC) has ranked skin diseases as the fourth most common cause of human sickness. Acne vulgaris is becoming more prevalent in each country. Dermatology OTC medications are generally used in the treatment of acne. Understanding the characteristics of acne vulgaris trouble is critical for developing compelling and targeted acne control therapies. According to the Global Weight of Disease Study 2019, 117.4 million incident cases of acne vulgaris, 231.2 million prevalent cases, and 5 million disability-adjusted life years (DALYs) were reported around the world, representing a 48% increase since 1990.

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Dermatology over-the-counter (OTC) drugs are sold straightforwardly to a consumer without a prescription from a healthcare professional, rather than prescription medications, which may be sold only to consumers possessing a valid prescription. In many nations, OTC medications are chosen by a regulatory agency to guarantee that they contain ingredients that are safe and viable when used without a physician's care. These medications are generally used in skin diseases, for example, dermatitis, acne, psoriasis, skin bleaching, fungal infections, and warts.

• By Product Type:
  • Tablets and Capsules
  • Gels
  • Creams and Ointments
  • Others
• Route of Administration
  • Topical
  • Oral
• Indication
  • Dermatitis
  • Acne
  • Psoriasis
  • Skin Bleaching
  • Fungal Disease
  • Warts
  • Others
• Distribution Channel
  • Online Distribution
  • Offline Distribution

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Vision Care Market Set to Record Exponential Growth by 2027

In response to The Perception Companions’ analysis, the worldwide vision care market accounted for US$ 66,934.51 million in 2019 and is anticipated to hit US$ 93,817.82 million by 2027 to rise at an annual development charge of 4.5% from 2020 to 2027. Rising prevalence of eye illnesses and rising funds for eye care analysis are the potential components stimulating the market enlargement.

The circumstances of eye issues and imaginative and prescient defects are growing worldwide, together with cataract, glaucoma, refractive errors, and others. A number of folks develop some particular eye downside at a sure age and persist the identical perpetually. In response to the World Well being Group (WHO), over 2.2 billion folks throughout the globe have a close to or distant imaginative and prescient impairment. It may be damaged down in figures as cataract (94 million), refractive errors (88.4 million), glaucoma (7.7 million), corneal opacities (4.2 million), diabetic retinopathy (3.9 million), and trachoma (2 million) respectively. Furthermore, as per the Royal Nationwide Institute of Blind Individuals, in 2017, round 350,000 folks within the UK have been registered as blind and partially sighted.

Alcon Inc, Bausch Well being Corporations Inc, Carl Zeiss AG, Cooper Corporations Inc, Essilorluxottica SA, Johnson And Johnson Companies Inc., Hoya Company, Rodenstock Gmbh, Menicon Co. Ltd, Rayner Intraocular Lenses Restricted are among the many distinguished gamers within the imaginative and prescient care market. These firms are centered on partnerships, product launches, collaborations, and different enterprise methods to maintain their place out there. As an illustration, in February 2021, The corporate acquired CE Mark for its multifocal contact lens, Acuvue Oasys multifocal with pupil optimized design for Europe. will probably be used for sufferers with presbyopia.

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The report segments the worldwide imaginative and prescient care market as follows:

By Product Kind

• Eye Glasses
• Contact Lens
• Intraocular Lens
• Others

By Distribution Channel

• Retail Shops
• E-Commerce
• Clinics
• Hospitals

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Remainder of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Remainder of Asia Pacific
• Center East and Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Remainder of Center East and Africa
• South and Central America
  • Brazil
  • Argentina
  • Remainder of South and Central America

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Medical Devices Market Pegged for Robust Expansion by 2027

 In line with our new market analysis examine on “Medical Devices Market to 2027 – World Evaluation and Forecast – by Product Sort, Operate, and Finish Person,” the market is anticipated to achieve US$ 767,684.9 million by 2027 from US$ 483,285.8 million in 2019; it’s estimated to develop at a CAGR of 6.1% from 2020 to 2027. The report highlights traits prevailing within the world medical units Market and the drivers and restraints pertaining to the market progress.

Based mostly on product sort, the worldwide medical units market is fragmented into in vitro diagnostics (IVD), surgical gadget, common medical units, cardiovascular units, muscular, an infection management units, ophthalmology, endoscopy, nervous system science, and others. The nervous system science portion is estimated to register essentially the most elevated CAGR available in the market through the forecast timeframe. Rising prevalence of neurological ailments, and fast product approvals and launches are the elements boosting the marketplace for the nervous system science portion.

The worldwide medical units market progress is especially attributed to elements like rising variety of medical gadget trade and rising prevalence of continual ailments. Nonetheless, challenges in medical gadget trade like pricey product approval course of, low compensation restrict and others hinder the expansion of the market.

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Medtronic; Abbott; Boston Scientific Company; Braun Melsungen AG; 3M; Common Electrical Firm; Stryker Company; Koninklijke Philips N.V.; Siemens AG; and Johnson and Johnson Providers, Inc are among the many main firms working within the Medical Units Market.

The Report Segments World Medical Units Market as Follows:

By Product Sort

• Surgical Units
  • Electrosurgical Mills
  • Ultrasonic Surgical Mills
  • Minimally Invasive Surgical procedure Units
  • Different Surgical Units
• An infection Management Units
• Common Medical Units
• Cardiovascular Units
• Orthopaedic Units
• In Vitro Diagnostics (IVD)
• Endoscopy
• Neurology
• Ophthalmology
• Others

By Operate

• Diagnostic and Monitoring
• Therapeutics
• Surgical
• Others

By Finish Person

• Homecare Medical Units
• Hospital Medical Units
• Ambulatory Care Medical Units
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Center East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
• South and Central America (SCAM)
  • Brazil
  • Argentina

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Outdoor Furniture Market Projected to Witness Vigorous Expansion by 2027

According to our latest market study on "Global Outdoor Furniture Market Forecast to 2027 - COVID-19 Impact and Analysis by Material (Metal, Plastic, Wood, and Others),Product (Chairs, Tables, Seating Sets, Loungers and Daybeds, and Dining Sets), End User (Residential and Commercial), and Geography". The global outdoor furniture market was valued at US$ 17,843.7 million in 2018 and is projected to reach US$ 26,598.5 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Outdoor furniture like chairs, tables, seating sets, dining sets, loungers, daybeds, and hammocks are quite popular among the residential and commercial customers. The outdoor furniture market on a global scale has been witnessing substantial growth in the new past. Factors, for example, a rise in consumer spending and traveling trends have brought about a flood in the number of tourists across the world. These factors are for the most part observed in tourist spots, beach sides, and slope stations, thereby leading to increased counts of inns, lodgings, visitor houses, resorts, open spaces, and public gardens. Consequently, a growing number of lodgings and restaurants are further expected to push the outdoor furniture market during the forecast time frame.

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Consumer spending on traveling and tourism has considerably increased across the world. A change in consumer way of life has brought about a rise in investment for traveling and exploration activities. The travel and tourism sector has become a significant contributor in developing inclination towards the use of outdoor furniture to enhance the esthetic appeal of commercial and residential spaces along with catering to the extravagance needs of consumers. According to The United Nations World Tourism Organization (UNWTO), the international tourist arrivals across the world rose up by 6% in 2018 that was accounted for 1.4 billion. Further, as stated by The World Travel and Tourism Chamber (WTTC) in 2018, the travel and tourism sector generated 10.4% of global Gross domestic product. Additionally, European nations are considered to be the most favored hub for tourism. Moreover, the rising rate of tourism in nations like Singapore, Malaysia, and Thailand is also propelling the market growth in the region.

Agio International Company, Ltd.;Ashley Home Stores, Ltd.;Barbeques Galore;Brown Jordan;Century Furniture LLC;Home crest Outdoor Living LLC;Keter Group;Inter IKEA Systems B.V.;Florida Patio Furniture Inc.; and Polywoodare among the deeply grounded players in the global outdoor furniture market others.

The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, Spain, France, and Germany, are among the most awful affected nations with regards to positive cases and reported deaths. According to the WHO figures updated in June 2020, approximately 7,482,952 confirmed cases and 419,497 deaths have been reported globally. The outbreak has affected economies and industries because of lockdowns, travel bans, and business closures. Consumer products is one the world's major industries suffering serious disruptions, for example, inventory network breaks, innovation events cancellations, and office closures because of this pandemic. China is the global manufacturing hub and is the largest raw material provider for various industries; however, it is also one of the most horrendously awful affected nations by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global stock chains and adversely impacting the manufacturing and sales of various outdoor furniture companies. The overall market break down because of COVID-19 is also affecting the outdoor furniture market growth because of shutting down of factories, obstacle in store network, and decline in world economy.

The Report Segments the Global Outdoor Furniture Market as Follows:

By Material

• Wood
• Metal
• Plastic
• Others 

By Product

• Chairs
• Tables
• Seating Sets
• Loungers and Daybeds
• Dining Sets 

By End User

• Residential
• Commercial

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • UK
  • France
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Middle East &Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of South America

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Electrical Protective Equipment Market Expected to Witness a Sustainable Growth by 2027

According to our latest market study on "Electrical Protective Equipment Market to 2027 - COVID-19 Impact and Global Analysis and Forecast by Product (Insulated Tools, Face and Eye Protection, Respiratory Protection, Protective Apparels, Head Protection, and Others); End User (Manufacturing, Construction, Oil and Gas, Healthcare, Transportation, and Others), and Geography," the market was valued at 12,890.2 Mn in 2019 and is projected to reach 15,658.6 Mn by 2027; it is expected to grow at a CAGR of 2.6% from 2019 to 2027. The report highlights the key factors driving the market growth, and prominent players and their developments in the market.

The extreme regulatory agenda regarding specialist safety principally in created nations propels the demand for electrical protective equipment. Also, the growing adoption of OSHA-regulated products to lessen the impact of injurious openings is the crucial factor in supporting the market growth. Further, OSHA coordinates the utilization of choosing the right protective gear. The increasing concerns regarding the safety of laborers has potentially flooded the demand for various electrical protective equipment, mainly face and eye protection equipment, which includes surgical masks, face safeguards, protective goggles, and respirators. While working on empowered parts, there exist a possibility of the generation of electric arcs; in this manner, the specialists should be protected with nonconductive, durable, and heat-resistant electrical protective equipment that offer deflection qualities.

Growth in the adoption of face and eye protection is creating significant opportunities for electrical protective equipment providers. The market for face and eye protection equipment is expected to reach US$ 4,269.84 million by 2027 Face and eye protection can be achieved by wearing eyewear, specially intended to mitigate the risk of openness to chemical splashes or laser radiation. The high growth of the market for face and eye protection is expected to create significant global demand for electrical protective equipment.

3M, Alpha Pro Tech, Ansell Ltd., Cintas Corporation, Delta Plus Group, Honeywell International Inc., Lakeland Inc., MSA, NSA-National Safety Apparel, and Mallcom (India) Ltd., are among the leading players operating in the electrical protective equipment market. Several other players are also functioning and are contributing significant incomes to the market.

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COVID-19 Impact on Electrical Protective Equipment Market

According to the World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are a portion of the most obviously terrible affected nations by the COVID-19 outbreak. The COVID-19 crisis is affecting the industries around the world, and the global economy is anticipated to take a most horrendously terrible hit in 2020, as well as in 2021. The outbreak has primarily created significant disruptions in industries like consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global electrical protective equipment market as they contribute a major share to the total demand for electrical protective equipment. The factory closures, travel bans, trade bans, and line lockdowns to combat and contain the transmission have impacted both manufacturing and sales of various products. The global manufacturing industry is one of the major industries that is suffering significant disruptions because of production network issues and manufacturing closures.

The report segments the global electrical protective equipment market as follows:

By Product

• Insulated Tools
• Face and Eye Protection
• Respiratory Protection
• Protective Apparels
• Head Protection
• Others

By End-user

• Manufacturing
• Construction
• Oil & Gas
• Healthcare
• Transportation
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

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Cell Therapy Market Will Escalate Rapidly in the Near Future

According to our new market research study on "Cell Therapy Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Therapy Type, Product, Technology, Application, and End User," the market is expected to reach US$ 12,563.23 million by 2027 from US$ 7,260.50 million in 2019. It is estimated to grow at a CAGR of 7.2% from 2020-2027. The growth of the market is attributed to increasing prevalence of chronic diseases, rising adoption of regenerative medicines, and surging number of approvals for cell-based therapies. However, the high cost of cell therapy manufacturing hinders the growth of the market.

The cell therapy market, based on therapy type, is bifurcated into allogeneic and autologous. In 2019, the allogeneic section accounted for a larger share owing to the availability of substantial number of approved products for clinical use. For instance, in 2018, Alofisel created by TiGenix (Takeda) is the primary allogeneic foundational microorganism based therapy approved for use in Europe.

Chronic diseases, like cardiovascular disorders, neurological disorders, autoimmune disorders, and cancer, are the leading causes of death and disability around the world. According to the Habitats for Disease Control and Prevention (CDC), in 2019, nearly 6 in 10 individuals experienced at least one chronic disease in the US. Cardiovascular diseases (CVDs) are a significant cause of mortality owing to the furious way of life. According to the World Health Organization (WHO), CVDs are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. Cancer is among the leading causes of mortality around the world, and the disease affects a tremendous population; therefore, it acts as a colossal financial weight on society. According to the WHO, in 2018, ~9.6 million deaths happened because of cancer globally. However, growing research on developing powerful treatments for the disease is positively affecting the market growth. Quality therapy and cell therapy are transforming the cancer treatment landscape; for example, Novartis Kymriah is used to treat diffuse large B-cell lymphoma. The launches of additional such products would be driving the demand for cell therapy, thus driving the growth of the cell therapy market in the coming years.

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The COVID-19 outbreak was first detailed in Wuhan (China) in December 2019. The pandemic is causing massive disruptions in supply chains, consumer markets, and economy across the world. As the healthcare sector is focusing on saving existences of COVID-19 patients, the demand for cell therapy is reducing around the world.

Vericel Corporation; MEDIPOST; NuVasive, Inc.; Mesoblast Limited; JCR Pharmaceuticals Co. Ltd.; Smith & Nephew; Bristol-Myers Squibb Company; Cells for Cells; Stemedica Cell Technologies, Inc; and Castle Creek Biosciences, Inc. are among the companies operating in the cell therapy market.

The Report Segments Cell Therapy Market as Follows:

 

By Therapy Type

• Allogeneic
• Autologous

By Product

• Consumables
• Equipment
• Systems and Software

By Technology

• Viral Vector Technology
• Genome Editing Technology
• Somatic Cell Technology
• Cell Immortalization Technology
• Cell Plasticity Technology
• Three-Dimensional Technology

By Application

• Oncology
• Cardiovascular
• Orthopedic
• Wound Management
• Other Applications

By End User

• Research Institutes
• Hospitals
• Others

By Geography                                                       

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Spain
  • Italy
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • South Africa
• South and Central America (SCAM)
  • Brazil
  • Argentina

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Optical Coherence Tomography Angiography Equipment Market : Emerging Trends, Business Growth Opportunities, Major Driving Factors

According to our new research study on "Optical Coherence Tomography Angiography Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and End User," the market is expected to grow from US$ 388.50 million in 2021 to US$ 616.31 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report highlights trends prevailing in the optical coherence tomography angiography equipment market and factors driving its growth. The rising prevalence of eye-related disorders and a surge in the geriatric population propel the demand for optical coherence tomography angiography equipment. However, the lack of skilled professionals and technical challenges associated with systems hamper the optical coherence tomography angiography equipment market growth.

Based on type, the optical coherence tomography angiography equipment market is bifurcated into tabletop type and handheld type. The tabletop fragment held a larger market share in 2021 and is expected to retain its dominance during the forecast period. Moreover, the handheld section is estimated to register a higher CAGR during the forecast period. Most flow angiography equipment are tabletop systems that are typically used for imaging compliant, seated subjects. However, this type cannot be applied for imaging crucial patient populations — including confined to bed patients, patients undergoing surgeries in operating rooms, young kids in clinics, and infants in intensive care nurseries. Tabletop OCT angiography systems have conveyed reproducible outcomes in clinical and research studies, however these systems won't be quickly utilized for pediatric applications. Therefore, handheld OCT systems have been used to bring the point-of-care feature for imaging these patient populations, for detecting retinopathy or prematurity ROP.

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Impact of COVID-19 Pandemic on Optical Coherence Tomography Angiography Equipment Market

The COVID-19 pandemic has adversely affected various industries, like manufacturing and healthcare, and its long-term repercussions are expected to hamper the healthcare industry growth during the forecast period. Because of the rising number of cases, lockdown and business shutdowns were imposed by governments of various countries to control transmission. Suspended business activities hindered the growth of economies, and decreased capital expenditures and investments in high-ticket machines. Many of these investments were canceled or postponed, resulting in a cascade of hospital medical equipment purchases. Many non-essential, elective medical treatments and surgeries were postponed, rescheduled, or canceled amid the COVID-19-related restrictions in various regions of the world, which lowered the demand for angiography equipment in 2020. However, this global crisis has prompted the increased demand for accurate diagnoses and treatments in North America.

Several players in the optical coherence tomography angiography equipment manufacturing market engage in meeting the growing demands for imaging solutions. NIDEK CO., LTD.; Carl Zeiss AG; OPTOVUE INCORPORATED; Canon, Inc.; OPTOPOL TECHNOLOGY SP. Z.O.O; Alcon Inc.; Michelson Diagnostics Ltd.; Topcon Corporation; SANTEC Corporation; and HEIDELBERG ENGINEERING GMBH are among the leading companies operating in the optical coherence tomography angiography equipment market.

The report portions the optical coherence tomography angiography equipment market as follows:

The optical coherence tomography angiography equipment market has been fragmented on the basis of type and end user. Based on type, the optical coherence tomography angiography equipment market is fragmented into handheld type and tabletop type. Based on end user, the optical coherence tomography angiography equipment market is fragmented into hospitals, clinics, and others. By geography, the optical coherence tomography angiography equipment market is fragmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Center East and Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Center East and Africa), and South and Central America (Brazil, Argentina, and Rest of South and Central America).

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Mineral Insulated Cable Market Incredible Potential Examined in New Research Report

 According to our latest market study on "Mineral Insulated Cable Market Forecast to 2027 - COVID-19 Impact and Global Analysis - Type (Power Cable, Heating Cable); Cladding (Copper, Stainless Steel, Others.); End-User Industry (Energy and Power, Oil and Gas, Construction, Pharmaceuticals, Others), and Geography," the market was valued at US$ 951.72 million in 2019 and is projected to reach US$ 1,337.00 million by 2027; it is expected to grow at a CAGR of 5.7% during the forecast period. The report highlights key factors driving the market growth, and prominent players and their developments in the market.

In the energy and power sector, temperature and tension measurement instruments play a significant job in large-scale power plants, peak-load electricity generation plants, and decentralized frameworks, among others. The globally mounting number of gas turbine power plants; coal, gas, nuclear, hydro power, and thermal power stations; biogas plants; and wind power stations — to satisfy the consistently increasing demand for electricity — is fueling the adoption of temperature and tension measurement instruments. This factor is probably going to influence the adoption of mineral insulated cables in the temperature and strain measurement frameworks in these facilities.

MICC Limited manufactures GDCD16 cable plans for power stations. It has been chosen as a provider by key power generation companies, including E.ON, EDF, and RWE, as well as by Nuclear Sellafield sites in the UK. Such abundant presence of coal-terminated plants, power generation plants, and nuclear sites plays a significant job in boosting the growth of the mineral insulated cable market for the energy and power industry. Thus, the use of cables in high-temperature applications is rising with the growing construction of nuclear power plants in the US, South Africa, Saudi Arabia, and so on.

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COVID-19 Impact on Mineral Insulated Cable Market

COVID-19 outbreak has been affecting each business globally since December 2019. Continuous growth in the quantity of virus-infected patients has constrained legislatures to put a bar on humans and products transport. The COVID-19 pandemic has weakened various activities across numerous industries. The energy and power generation industry is also hit hard by the outbreak because of limited manpower and disruption in production network of components and administrations. The mineral insulated cable market players in various nations also faced the challenge of confined manpower availability, whereas in several nations, the activities of nuclear decommissioning have been required to be postponed owing to the imposition of lockdowns by separate state run administrations.

The Report Segments the Mineral Insulated Cable Market as Follows:

By Type

• Power Cable
• Heating Cable

By Cladding

• Copper
• Stainless Steel
• Others

By End-User Industry

• Energy and Power
• Oil and Gas
• Construction
• Pharmaceuticals
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific (APAC)
• China
• India
• Japan
• Australia
• South Korea
• Rest of APAC
• Middle East & Africa (MEA)
• South Africa
• Saudi Arabia
• UAE
• Rest of MEA
• South America (SAM)
• Brazil
• Argentina
• Rest of SAM

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Industrial Battery Market: Pin-Point Analysis for Changing Competitive Dynamics

According to The Insight Partners’ research, the global industrial battery market was US$ 12,501.9 million in 2019 and is slated to be worth US$ 21,893.5 million by 2027, with a CAGR expected to grow at 7.3% during the forecast period. The rising adoption of grid-connected solutions ensures an uninterruptable power supply and increases the requirement for lithium-ion batteries.

Using battery energy storage systems for grid-connected solutions benefits grid operators by enabling electric energy time-shift, renewable energy time-shift, baseload leveling, peak shaving, and renewables capacity firming. There is rising adoption of grid-connected solutions as these systems can reserve excess electricity when generation surpasses demand. Moreover, market players are coming up with new grid solutions for maintaining a competitive edge in the industrial battery market. For example, Siemens offers SIESTORAGE, an intelligent grid solution capable of overcoming the challenges operators face during optimization of grid connections, provision of elastic energy for modern grids, and supporting large energy consumers, which are the three main parameters in power supply. Also, in July 2015, EDP Distribuicao offered a Storage InovGrid tender to Siemens in Évora, Portugal. SIESTORAGE provides services such as voltage regulation, energy backup, and replicating intelligent grids benefits to the grid operators. These are the factors creating more demand for grid-connection solutions.

Earlier, nickel-cadmium batteries were considered a suitable type of battery for portable equipment, ranging from wireless communications to mobile computing devices. Though lithium-ion batteries are presently the most used and most promising for several applications, ranging from smart grids to aerospace. Lithium-ion batteries are gaining popularity due to its impressive attributes such as recyclability, low emission, and long life. Also, these batteries are preferentially adopted for several industrial applications that deem temperature sensitivity, low maintenance, weight, and volume. Governments worldwide are aiming to expand the reach of digitalization and promote the utilization of various electronic devices, and have become the most important storage technology in the areas of portable and mobile applications. Henceforth, the increasing requirement for lithium-ion batteries in many applications is one of the key aspects driving the industrial battery market.

Conversely, the high capital investments required for deployment hinder the global industrial battery market.

Based on type, the global industrial battery market is segmented into lead-acid batteries, lithium-based batteries, nickel-based batteries, and others. Among these, lead-acid batteries led the domain by accounting for US$ 6,119.6 million, a market share of 48.9% in 2019. Further, it is anticipated to continue its dominance by holding 45.6%, i.e., US$ 9,993.9 million by 2027, with a CAGR of 6.4% growth during the forecast period.

On the basis of application, the market is categorized into telecom and data communication, industrial equipment, uninterruptible power supply (UPS)/backup, grid-level energy storage, mining, marine, and others. In 2019, the industrial equipment segment led the market by 48.4% in 2019; it is anticipated to continue its dominance during the forecast period, accounting for 45.8% of the industrial battery market by 2027. Further, the market is projected to reach US$ 10,016.9 million by 2027, and CAGR will record a stellar growth of 6.6% during 2020–2027.

Our regional frame of reference states that Asia Pacific dominated the market by capturing for 36.9%, i.e., market valued at US$ 4,620.9 million in 2019; it will continue to dominate by 2027 by accounting for 35.0% share and market value of US$ 7,664.9 million. Meanwhile, South America is anticipated to record a stellar growth rate of 9.6% CAGR over the forecast timeframe and amass US$ 648.05 million by 2027.

Key players profiled in the global industrial equipment market report are C&D Technologies, Inc; East Penn Manufacturing Company; EnerSys; Exide Industries Limited; General Electric Company; GS Yuasa International Ltd; LG Chem; Panasonic Corporation; Robert Bosch GmbH; and Saft Groupe SA.

• In August 2017, C&D Technologies declared acquisition by KPS Capital Partners to support the organization’s growth organically and through strategic acquisitions.
• East Penn Manufacturing launched a complete line of lead and lithium material handling battery products for Class I, II, and III operations in December 2019.
• In June 2018, Exide Industries announced the launch of the joint venture with Leclanché to build lithium-ion batteries and energy storage solutions.

Renewable Chemicals Market: Value Chain, Stakeholder Analysis and Trends

According to the latest market study on "Renewable Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product (Alcohols, Organic Acids, Ketones, Platform Chemicals, Biopolymers, Others); by Application (Food and Beverages, Agriculture, Textiles, Transportation, Chemical Intermediates, Packaging, Bio-Medical and Pharmaceuticals, Others)," The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The report highlights key driving factors and prominent market players along with their developments in the market.

Renewable chemicals or bio-based chemicals are defined as those categories of chemicals, which are synthesized from renewable sources like agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Renewable chemicals are categorized as sustainable and environment-accommodating chemicals which emits less carbon footprints as compared to traditional petro-based chemicals. The absolute most broadly available renewable chemicals are lignin, carbohydrates, oils, plant extractives, hemicellulose, cellulose, starch, protein, and others. Such chemicals find application in different application bases like food and beverage, agriculture, textiles, automotive, packaging and others.

Renewable sciences have been regarded as one of the viable ways to advance the quality of air, water, and soil and contribute to sustainability by commercializing the use of eco-accommodating bio-based chemicals in different applications. Eco-accommodating sustainable renewable chemicals can be obtained from renewable feedstocks like biomass, agricultural buildups or feedstock, and microorganisms with the assistance of green chemistry synthesis or biorefineries. The state run administrations of several economies have carried out severe regulations related to carbon and greenhouse gas emissions to advance great environment. For instance, the European Commission aims to achieve 80% reduction in the carbon emission by 2050 by phasing out ~ 81Mt of carbon dioxide to be used in clinker production. Regulatory bodies, like REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals), EPA (Environmental Protection Agency), and European Commission force severe environment regulations on the production and disposal of petrochemicals. Also, the growing focus of European Union on the establishment of 'Green Economy' combined with its '20-20-20' initiative is phasing out the demand for petrochemicals. The reduction in oil assets along with political instability in the leading oil producing nations and volatility in the cost of oil based good increase inclination for renewable chemicals. Global warming and climate change are creating demand for healthy, green, and clean products. Additionally, the circular economy is creating over US$5.6 trillion worth of novel opportunities for the improvement of eco-accommodating advances including the innovation associated with renewable chemicals. Such collaborative endeavors, regulations, and initiatives drive the growth of the renewable chemicals market.

The ongoing pandemic has drastically altered the status of the industrial sector and have negatively impacted the growth of the renewable chemicals market. The implementation of measures to combat the spread of the virus has aggravated the situation and have impacted the growth of several industrial sectors. Industries, for example, food and beverages, agriculture, textiles, transportation, packaging, pharmaceuticals have been impacted by the unexpected distortion in operational efficiencies and disruptions in the value chains attributable to the abrupt conclusion of national and international boundaries. The significant decline in the growth of the several industrial sectors negatively impacted the demand for renewable chemicals in the global market. The disruptions as far as sourcing of raw materials from providers as well as temporarily terminations of manufacturing base because of indefinite lockdowns and temporary quarantines have impacted the growth of the market during pandemic period. Nevertheless, as the economies are planning to resuscitate their operations, the demand for renewable chemicals is expected to rise globally. Although the focus throughout just in time production is another concerning factor hindering market growth. The expanding demand of renewable chemicals across food and beverages, agriculture, textiles, transportation, packaging, pharmaceuticals, and other industries along with significant investment by prominent manufacturers is, expected to drive the growth for renewable chemicals.

Archer-Daniels-Midland Company (ADM), Cargill Inc, DSM, BASF SE, Amyris Inc, Evonik Industries AG, Solvay, The Dow Chemical Company, Genomatica, Inc, and Braskemare are among the well-established players in the global renewable chemicals market.

The report segments the global renewable chemicals market as follows:

• By Product the Global Renewable Chemicals market is segmented into Acrylic, Alcohols, Organic Acids, Ketones, Platform Chemicals, Biopolymers, Others.

• By Application the Global Renewable Chemicals market is segmented into Food and Beverages, Agriculture, Textiles, Transportation, Chemical Intermediates, Packaging, Bio-Medical & Pharmaceuticals, Others.

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM