Plastics And Rubber Products Market Definition And Segments

Plastics and rubber products refer to any substance that is a component of one of the many semi- or synthetic solids used in the production of various goods, as well as any elastic substance made from the latex sap of trees-particularly those in the genus Hevea and genus Ficus—that can be vulcanized and finished into a range of goods. The main types of plastics and rubber products are rubber products and plastic products. Plastics are a broad category of synthetic or semi-synthetic compounds made primarily of polymers. Plastics can be shaped, stretched, or compressed into solid objects of diverse shapes due to their fluidity. The different sectors include automotive and transportation, electrical and electronics, medical, construction, and others. The plastics and rubber products market covered in this report is segmented – 1) By Type: Rubber Products, Plastic Products 2) By End-User Industry: Automotive & Transportation, Electrical & Electronics, Medical, Construction, Other End Users Subsegments Covered: Tire, Hoses And Belting, Other Rubber Product, Plastics Packaging Materials And Unlaminated Film And Sheet, Plastic Pipes And Shapes, Laminated Plastics Plate, Sheet, And Shape, Plastics Bottle, Urethane And Other Foam Product, Polystyrene Foam Products, Other Plastics Product The plastics and rubber products market size has grown strongly in recent years. It will grow from $1,460.18 billion in 2023 to $1,566.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrialization and manufacturing growth, automotive industry expansion, consumer goods manufacturing, medical and healthcare sector growth, packaging industry evolution. The plastics and rubber products market size is expected to see strong growth in the next few years. It will grow to $2,048.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to electric vehicles and lightweighting, circular economy initiatives, resilience in supply chain management, regulatory compliance and certification, expansion of aerospace applications. Major trends in the forecast period include advanced recycling technologies, bio-based polymers, high-performance rubber compounds, antimicrobial plastics and rubber, 3d printing with polymers and rubbers.

Automotive Tire Demand Boosts Plastics And Rubber Products Market

Increasing demand for tires from the automotive industry is driving the plastics and rubber products market. A tire is a circular, usually rubber-coated, and frequently strengthened component encircling a wheel's rim. Rubber is a key material used in automotive tires due to its unique properties that provide traction, absorb shocks, and support vehicle weight. For instance, in February 2023, according to the U.S. Tire Manufacturers Association (USTMA), a US-based trade association representing tire manufacturers, total tire shipments in the U.S. are expected to reach 334.2 million units in 2023, representing an increase from 332.0 million units in 2021 and 332.7 million units in 2022. Therefore, increasing demand for tires from the automotive industry will propel the growth of the plastics and rubber products market.

Packaging Industry Innovations Fuel Demand For Plastic And Rubber Products Manufacturing

The plastics and rubber product manufacturing industry is affected by the growth of the packaging industry. There are a number of new developments in the packaging industry that will drive the demand for plastic materials. Convenience features such as resealable packs, easy-to-open stand-up pouches, and smaller pack sizes for single servings are being introduced, and more promotional packs and brand extensions are being developed to ensure customer loyalty. These developments in packaging will increase the consumption of plastic and rubber and are driving the market. Major companies operating in the plastics and rubber products market report are Exxon Mobil Corporation, BASF SE, The Dow Chemical Company, SABIC (Saudi Basic Industries Corporation), LyondellBasell Industries N.V., Continental AG, LG Chem Ltd., Mitsubishi Chemical Holdings Corporation, Bridgestone Corporation, The Michelin Group, Good Year Tire & Rubber Company, Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Toray Industries Inc., Braskem S.A., Formosa Plastics Corporation, Lotte Chemical Corporation, Solvay S.A., Amcor Limited, Berry Global Group Inc., DuPont de Nemours Inc., Arkema S.A., Eastman Chemical Company, Avery Dennison, Sumitomo Rubber Group, Teijin Limited, Pirelli & C SpA, The Hankook Tire group, Trinseo S.A.

Impact Of COVID-19 On The Plastics And Rubber Products Manufacturing Market And Anticipated Post-Pandemic Recovery

The outbreak of Corona virus disease (COVID-19) has acted as a massive restraint on the plastics and rubber products manufacturing market in 2022 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the plastics and rubber products manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Innovative E2C Dx9660 Solution Boosts Profitability For Leading Plastics And Rubber Product Companies

Major companies operating in the plastics and rubber products market are focused on developing innovative products, such as E2C DX9660, to increase the profitability in the market. E2C DX9660 is an Engineered Elastomer Composite (E2C) solution that provides a 30% increase in abrasion resistance compared to a conventional compound. For instance, in February 2023, Cabot Corporation, a US-based chemicals company, launched a new product called E2C DX9660. The new product has been engineered to provide significantly enhanced rubber durability by offering excellent resistance to abrasion. This addition expands Cabot's range of E2C solutions for use across various applications, including on-road commercial tires and industrial rubber products.

Automation Revolutionizes Plastic And Rubber Products Manufacturing

Manufacturers in the plastic and rubber products industry are investing in automation technologies to reduce production costs, improve productivity, and enhance product quality. The use of sensors and wireless technology aids in gathering valuable data that is used to improve efficiencies and reduce errors. This results in streamlined manufacturing processes and better product quality at lower costs. According to ABB, an industrial robot manufacturer, some of their customers reported an increase of 15–30% in productivity after installing robotic automation systems. Around 180,000 machines will be employed in the plastic manufacturing industry in 2021, an increase of 67,000 machines over the course of 4 years. Major companies providing industrial robotics include FANUC Corporation, Yaskawa Electric Corporation, ABB Group, KUKA AG, and Kawasaki Heavy Industries Ltd. Asia-Pacific was the largest region in the plastics and rubber products market in 2023. North America was the second largest region in the plastics and rubber products market. The regions covered in the plastics and rubber products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plastics and rubber products market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The plastics and rubber products market consists of sales of polymer products, elastic products, and flexible products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plastics and rubber products market research report is one of a series of new reports from The Business Research Company that provides plastics and rubber products market statistics, including plastics and rubber products industry global market size, regional shares, competitors with a plastics and rubber products market share, detailed plastics and rubber products market segments, market trends and opportunities, and any further data you may need to thrive in the plastics and rubber products industry. This plastics and rubber products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Plastic Material And Resins Market Definition And Segments

The plastic materials are synthetically made final products from polymers and resin is an unprocessed plastic derived from plant oozes. These include no vulcanizable thermoplastic elastomers, and customized as well as non-customized synthetic resins. The main types of plastic materials and resins are polypropylene-plastic material and resins, high-density polyethylene, polyvinyl chloride, polyethylene terephthalate, polyurethane, low-density polyethylene, polystyrene-plastic material and resins, and other types of plastic material and resins. Polyvinyl chloride is a thermoplastic made of 57% chlorine derived from common salt and 43% carbon derived from ethylene from hydrocarbon feedstocks, sugar crops, crude oil, and natural gas. The applications involved are packaging, housewares, bags, sheets, bottles, fibers, tapes, films, medical materials, and other applications. The end-user industries include the chemical industry, the coating and printing industry, the electronics industry, the food and pharmaceutical industry, and other end-user industries. The plastic material and resins market covered in this report is segmented – 1) By Type: Polypropylene-Plastic Material and Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins 2) By Application: Packaging, Housewares, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical Materials, Other Applications 3) By End User Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries The plastic material and resins market size has grown rapidly in recent years. It will grow from $898.26 billion in 2023 to $998.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to increased demand for industrial packaging products, growth of motor vehicles, and growth in the construction industry. The plastic material and resins market size is expected to see rapid growth in the next few years. It will grow to $1498.73 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to new developments in packaging will drive the growth in the plastic material and resins market. Major trends in the forecast period include new technological developments in the manufacturing process and trying to develop products with improved attributes and new characteristics, focusing on the research and development of new materials that are environmentally friendly and also have widespread use, investing in automation and robotics in factories to increase productivity, using recycled plastic products as raw materials to reduce their carbon footprint, and focusing on collaborating with technology-based companies and research organizations in development activities of advanced polymers.

Increase The Consumption Of Plastics Fueling The Surge In Plastic Material And Resins Market Growth.

New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the market going forward. Convenience features, such as resealable packs, easy-opening, stand-up pouches, and smaller pack sizes for single-servings, are being introduced, and more promotional packs and brand extensions are being developed to ensure customer loyalty. Similarly, the recent development of biodegradable plastics, which degrade naturally from the actions of microorganisms such as bacteria, algae, and fungi, is gaining traction. These developments in packaging will increase the consumption of plastics, which will drive the market's growth.

Increasing Demand For Electric Vehicles (EVS) Fuels Growth In The Plastic Material And Resin Market

The increase in demand for electric vehicles (EVs) is expected to propel the growth of the plastic material and resin market going forward. Electric vehicles (EVs) refer to a vehicle that can be propelled by an electric motor that draws power from a battery and can be charged externally. The growing demand for electric vehicles (EVs) has surged the need for lightweight and durable plastic materials and resins in automotive components, including battery enclosures, interior components, and lightweight structural parts, thus driving the plastic material and resin market within the automotive sector. For instance, in June 2022, according to the United States Department of Energy (DOE), a US-based government agency, the total number of electric vehicle registrations in the United States was 1.45 million, with California accounting for approximately 563,070 registrations of light-duty electric vehicles, representing 39% of EVs nationwide in 2021. The next-greatest number was in Florida, followed by Texas. Therefore, the increase in demand for electric vehicles (EVs) is driving the growth of the plastic material and resin market. Major companies operating in the plastic material and resins market report are LyondellBasell Industries Holdings BV, Total SE, INEOS AG, Lotte Chemical Corporation, BASF SE, Covestro AG, Formosa Plastics Corp., Huntsman International LLC, Westlake Chemical Corp, Dow, Nolato, Sintex Industries Ltd (India), Abu Dhabi National Oil Company (Adnoc), Zamil Plastic Industries Ltd., Sealed Air Corp., Silgan Holdings Inc., Northern Vinyl Supplies, Australian Vinyls Corporation (Australia), Plastral (Australia), Dagu Chemical Co. Ltd., China Petrochemical Corporation, ENPI Group, SPREA MISR, Sumitomo Chemical Company Limited (China), Yabang Investment Holding Group Co. Ltd., Zhenjiang Chimei Chemical Co. Ltd., Sanmu Group, DuPont, Cosmoplast, Exxon Mobil, Sunstar Engineering Italy S.R.L., Shanghai Huayi (Group), Awgifts Europe, Ncs Resins (Pty) Ltd., Are Plastocure cc, Celanese Corp., Jain Irrigation Systems Ltd (India), Soltex Group, Braskem, Horizon Plastics International, Qatar Petrochemical Company, Kkalpana Industries India Ltd., Chevron Phillips, Formulated Resins Ltd., Flowcrete South Africa, Glezco Plasticos, Messe Brasil, Plastic OJSC, Rosti Poland Sp., BÜFA Composite Systems, VIP Industries Ltd., Solvay S.A., Graham Packaging Company, China National Petroleum Corporation, GAP Polymers, Black Horse Plastic Products, Sonoco Products Company, Bemis Company, Sichuan Jinlu Group Co. Ltd., LG Chemical, INEOS Group, SA de CV, TCR Plastics, Berry Global Group Inc., Matsui Technologies India Ltd., RESITEC PRODUCTION SA, Osterman's Latin American Polymers, POLYNT SPA, Amcor PLC, Xinghua Xinfeng Plastic Co. Ltd., Johannes H. Andress GMBH & CO. KG, Brovary Plastic Plant, Eastman Chemical Company, Geeta Plastic Products, Advanced Polymer Trading FZC (APT), Arabian Plastic Industrial Company Limited, Saudi Aramco, HEKRO PET, PolyOne Corporation, Reliance Industries Ltd., Borealis Group

Oil Price Volatility's Impact On Plastic Material And Resin Market

Oil price volatility is such asly to have a negative impact on the plastic material and resin markets, as a significant decline and increase in oil prices negatively impact government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria, and the UAE (United Arab Emirates), which are largely dependent on revenues generated through crude oil exports, whereas a significant increase in oil prices has resulted in a spurt in inflation, current account deficit, and fiscal deficit in countries such as India and China, which predominantly import oil. For instance, in January 2023, according to the Energy Information Administration, a US-based government agency, the decline of crude oil prices, such as in December 2022, was $80 per barrel compared to $85 per barrel in December 2021, due to a significant decline in the price of oil affecting the market. This high volatility in the oil process is further expected to negatively impact the market going forward.

Advancements In Smart Polymers And Sustainable Solutions Boost Plastic Material And Resin Market Growth

The search for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, smart polymers are materials that can change based on external environmental stimuli. A product that is a result of a combination of nanotechnology and plastic engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant, along with resistance to scratches, dents, and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive, and aerospace sectors. For instance, some of the major developments in plastic materials include plastics from potatoes and virgin PET from discarded textile fabric and waste bottles.

Innovative Advances In Eco-Friendly Seaweed Resin Transforming The Plastic Material And Resin Market

Major companies operating in the plastic material and resin markets are focusing on the development of innovative products such as seaweed resin to sustain their position in the market. Seaweed resin refers to a biodegradable and sustainable material derived from seaweed extracts used as an eco-friendly alternative to traditional petroleum-based plastics and resins. For instance, in May 2023, Loliware Inc., a US-based materials science company, launched the newest seaweed resin for injection molding. The ocean-safe seaweed resins are designed to be seamlessly processed using existing plastic manufacturing machinery. This new biomaterial will power the company's first-ever seaweed utensil set and be manufactured on standard plastic injection molding equipment. Asia-Pacific was the largest region in the plastic material and resins market in 2023. North America was the second-largest region in the plastic material and resins market. The regions covered in the plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the plastic material and resins market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The plastic materials and resins market consists of the sales of ryton & kynar, acrylic or polymethyl methacrylate, polycarbonate, and acrylonitrile-butadiene-styrene plastic materials and resins. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plastic materials and resins market research report is one of a series of new reports from The Business Research Company that provides plastic materials and resins market statistics, including plastic materials and resins industry global market size, regional shares, competitors with a plastic materials and resins market share, detailed plastic materials and resins market segments, market trends and opportunities, and any further data you may need to thrive in the plastic materials and resins industry. This plastic materials and resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Accounting Software Market Definition And Segments

Accounting software is a computer program that assists bookkeepers and accountants in recording and reporting financial transactions for a business. The accounting software is used for optimizing business financial accounting processes such as invoicing and billing, tax calculation, financial reporting, project management, and others. Accounting software is used by bookkeepers, accounting professionals, and business owners to process accounting transactions and manage accounts. The main components of accounting software include solutions and services. Accounting software solutions help in optimizing business financial accounting processes and handle day-to-day business transactions for hassle-free bookkeeping. The different accounting software types include spreadsheets, commercial accounting software, enterprise accounting software and custom accounting software. The deployment types for accounting software include on-premise and cloud, used by enterprise sizes such as large enterprises and SMEs. The different accounting software industry verticals include BFSI, retail and e-commerce, manufacturing, IT and telecom, healthcare, government and public sector, energy and utilities, media and entertainment and other verticals. The accounting software market covered in this report is segmented – 1) By Component: Solution, Services 2) By Type: Spreadsheets, Commercial Accounting Software, Enterprise Accounting Software, Custom Accounting Software 3) By Deployment Mode: On-Premise, Cloud 4) By Enterprise Size: Large Enterprises, SMEs 5) By Industry Vertical: BFSI, Retail and Ecommerce, Manufacturing, IT and Telecom, Healthcare, Government and Public Sector, Energy and Utilities, Media and Entertainment, Other Verticals The accounting software market size has grown rapidly in recent years. It will grow from $16.98 billion in 2023 to $18.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to small and medium-sized enterprises (same) adoption, tax compliance requirements, integration with business systems. The accounting software market size is expected to see rapid growth in the next few years. It will grow to $29.36 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to advanced analytics and reporting, mobile accessibility, globalization and multi-currency support, industry-specific solutions. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML) integration, mobile accounting apps, integration with fintech services, focus on user experience (UX) and designs, blockchain for enhanced security.

The Surge Of Automation Propelling Accounting Software Market Growth

The increasing demand for automation in accounting processes is driving the growth of the accounting software market. The increasing demand from the finance and accounting professionals around the world for increasing the efficiency of the accounting processes generates higher demand for accounting software. According to a 2022 survey by Airbase, a spend management platform, comprising nearly 200 finance and accounting professionals in the US, 78% of the respondents agreed that automation would have a positive impact on their growth, and 47% said that a lack of automation was costing them time and money. Therefore, the increasing focus on automation in accounting processes drives the accounting software market growth.

Cloud-Based Accounting Solutions Propel Accounting Software Market Growth

The increased adoption of cloud-based accounting solutions is driving the growth of the accounting software market. Cloud-based accounting solutions are software programs that provide accounting functionalities and operate entirely over the internet, without requiring local installation or storage. The increased adoption of cloud-based accounting solutions has significantly expanded the accounting software market due to its scalability, accessibility, and cost-effectiveness. For instance, in September 2023, according to Xero, a New Zealand provider of cloud-based accounting software, among practices utilizing cloud accounting solutions, 74% observed a rise in revenues, while only 41% of non-cloud users reported the same. Additionally, 32% of these practices attributed their revenue growth directly to the adoption of cloud technology. Therefore, the increased adoption of cloud-based accounting solutions drives the accounting software market growth. Major companies operating in the accounting software market report are Microsoft Corporation, Oracle Corporation, SAP SE, Intuit Inc., Infor Inc., The Sage Group PLC, BKE Solutions LLC, Epicor Software Corporation, Xero Limited, Zoho Corporation Pvt. Ltd., Blackbaud Inc., Unit4 Business Software Limited, MYOB Group Pty Ltd., FreshBooks Inc., Wave Financial Inc., Tipalti Inc., FreeAgent Central Ltd., Reckon Limited, Red Wing Software Inc., Deskera Holdings Limited, Cougar Mountain Software Inc., Aplos Software LLC, AccountMate Software Corporation, Patriot Software LLC, Multiview Financial Software Inc., Acclivity Group LLC, Saasu Pty Ltd., Billy Solutions Inc., Kashoo Cloud Accounting Inc., ZarMoney Inc., Plooto Inc., 2ndsite Inc.

Key Player Technological Advancements Enhance Accounting Software Market

Technological advancement is a key trend gaining popularity in the accounting software market. Major companies in the accounting software market are integrating advanced technologies such as AI (artificial intelligence) to launch innovative solutions. For instance, in July 2021, Xero, a New Zealand-based accounting software company, launched new planning, insights, and reporting tool, Analytics Plus, for small and medium-sized businesses. The tool combines cash flow forecasting and advanced predictions using AI to give businesses insights into different financial parameters.

Innovations In Cloud-Based Solutions Transform Accounting Software Market

Major companies operating in the accounting software market are focusing on innovative solutions, such as new cloud-based software, to meet evolving client needs, improve accessibility, and enhance data security. Cloud-based software refers to applications or programs that are hosted on remote servers and accessed via the internet rather than being installed on a local computer or device. For instance, in March 2023, Focus Softnet, an India-based software company, launched FocusLyte, its new accounting software. It is a cloud-based system that assists in handling invoices and company payments. It is primarily designed for small and medium enterprises, but it is equally efficient for enterprises with complex financial accounting processes. The system is popular among users due to its ease of use and extensive reporting capabilities.

Freshbooks Expands Market Reach And Expertise Through Acquisition Of FastBill

In October 2021, FreshBooks, a Canada-based invoice and accounting software company, acquired FastBill for an undisclosed amount. With this acquisition, FreshBooks gained access to FastBill’s expertise in European Union tax filing policies and enhanced accounting technologies. FreshBooks intends to expand into new markets and expand its platform to be more extensive. FastBill is a Germany-based accounting software provider. North America was the largest region in the accounting software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the accounting software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The accounting software market consists of revenues earned by entities by providing online accounting software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The accounting software market research report is one of a series of new reports from The Business Research Company that provides accounting software market statistics, including accounting software industry global market size, regional shares, competitors with an accounting software market share, detailed accounting software market segments, market trends and opportunities, and any further data you may need to thrive in the accounting software industry. This accounting software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Poly-Vinyl Chloride Market Definition And Segments

Polyvinyl chloride is a white synthetic organic compound available in powder form or granules with a high density and high impact strength. PVC is commonly used in construction as insulation on electrical wires. It is also blow-molded into clear, transparent bottles. The product types of poly-vinyl chloride are rigid PVC, flexible PVC, low-smoke PVC, and chlorinated PVC. Rigid PVC is a strong, stiff, low-cost plastic material that is easy to fabricate and easy to bond by using adhesives or solvents. The applications are pipes and fittings, film and sheets, wire and cables, bottles, profiles, hoses and tubing, and other applications. The end-use industries are building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other end-use industries. The poly-vinyl chloride market covered in this report is segmented – 1) By Product Type: Rigid PVC, Flexible PVC, Low-smoke PVC, Chlorinated PVC 3) By Application: Pipes & Fittings, Film & Sheets, Wire & Cables, Bottles, Profiles, Hoses & Tubing, Other Applications 2) By End User Industry: Building & Construction, Automotive, Electrical & Electronics, Packaging, Footwear, Healthcare, Other End Use Industries The poly-vinyl chloride market size has grown strongly in recent years. It will grow from $89.94 billion in 2023 to $97.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to construction industry, packaging, electrical and electronics, automotive applications. The poly-vinyl chloride market size is expected to see strong growth in the next few years. It will grow to $133.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to sustainability initiatives, urbanization and infrastructure development, renewable energy, advanced healthcare devices. Major trends in the forecast period include recyclable and bio-based pvc, phthalate-free formulations, digital printing on pvc, smart materials.

Growing Demand For Pvc In Key Industries Drives Market Growth

The PVC market growth was aided by increased demand from industries such as construction, health care, and packaging. The growing need for PVC is expected to drive the market. PVC is lightweight and strong and is heavily used in the construction industry in the form of pipes, windows, flooring, and roofing. According to Oxford Economics, a UK-based firm providing global economic forecasting and econometric analysis, the worldwide construction output is expected to grow from $10.7 trillion in 2020 to $15.2 trillion by 2030 at a rate of 42%, which is expected to positively impact the PVC market. The growth of end-user industries, including construction, health care, and packaging, boosts the demand for PVC, increasing the growth of the PVC market.

PVC's Vital Role In Fueling Agricultural Growth

The increasing demand for the agriculture sector is expected to propel the growth of the poly-vinyl chloride market growing forward. The agriculture sector refers to the portion of the economy that is involved in the production, cultivation, processing, and distribution of agricultural products. PVC pipes and fittings are widely used for irrigation systems. They are durable and resistant to corrosion, making them suitable for transporting water from water sources to fields. For instance, in October 2022, according to the Government Digital Service, a UK-based government body, the UK economy benefited from agriculture to the tune of $13.67 billion in 2021 (0.5% of GDP). This is a rise of $1.1 billion (8.9%) from 2020. Therefore, the increasing demand for the agriculture sector is driving the growth of the poly-vinyl chloride market. Major companies operating in the poly-vinyl chloride market include Westlake Chemical Corporation, Shin-Etsu Chemical Co. Ltd., Ineos Group Limited, Formosa Plastics Corporation, Occidental Chemical Corporation, China National Chemical Corporation, Orbia Advance Corporation SAB de CV, Axiall Corporation, BASF SE, Mitsubishi Chemical Corporation, DuPont de Nemours Inc., LG Chem Ltd., Oxy Vinyls LP, Inovyn ChlorVinyls Limited, KEM ONE, Vinnolit GmbH & Co. KG, Kaneka Corporation, Hanwha Solutions Corporation, Teknor Color Company, Aurora Plastics LLC, Teknor Apex Company, Sylvin Technologies Inc., Benvic Europe SAS, Mexichem Specialty Compounds, Inc., Roscom Inc.

Environmental Concerns And Challenges Faced By The Pvc Market

The environmental impacts of using PVC challenge the growth of the PVC market. The emission of toxic fumes emitted during the manufacturing, use, and disposal of PVC raises environmental concerns. The manufacturing of PVC consumes a high amount of chlorine gas, due to which a large number of hazardous gases as by-products are emitted during the whole PVC lifecycle. PVC resists natural degradation. It stays in the environment for a long time, contributing to global pollution. Due to the harmful effects of PVC on the environment, PVC packaging has been banned or restricted in a number of countries around the world, such as Canada, Spain, South Korea, and the Czech Republic. Some U.S. cities, such as Rahway, NJ and Glen Cove, NY, have prohibited the use of PVC in food packaging or utensils. The ill effects of PVC restrain the growth of the Poly-Vinyl Chloride market.

Enhancing Pvc Properties With Molecular Orientation Technology

Poly-vinyl chloride manufacturing companies are increasingly implementing the new 'molecular orientation' technology to improve the physical and mechanical properties of the PVC produced. Molecular orientation is a manufacturing method that increases the flexibility and resistivity of PVC from fatigue and impact. Under certain pressure, temperature, and speed conditions, molecular technology aligns the randomly arranged molecules in a normal PVC in the same direction. The new alignment improves the strength and ductility of the PVC pipes, creating new PVC-O pipes. For instance, Molecor uses molecular orientation to produce TOM® PVC-O pipes. These pipes are resistant to low temperatures and have high resistance to cracks or impacts.

Innovative Advancements In The Poly-Vinyl Chloride Market

Major companies operating in the poly-vinyl chloride market are innovating new products to such as GreenVin polyvinyl chloride (PVC) to increase their profitability in the market. GreenVin polyvinyl chloride (PVC) is a low-carbon substitute for conventional PVC. For instance, in November 2021, Vinnolit, a Germany-based chemical company launched GreenVin polyvinyl chloride (PVC). GreenVin is widely used in sectors including building, healthcare, and automobiles. PVC is a versatile thermoplastic polymer that is frequently used in the building and construction sector to create door and window profiles, drinking and wastewater pipes, wire and cable insulation, and more. Similar to conventional PVC, GreenVin PVC may be used for the same things, such as cladding, windows, roofing, fence, decking, wall coverings, and flooring.

Oldcastle Infrastructure’S Acquisition Of National Pipe & Plastics Inc. In October 2021

In October 2021, Oldcastle Infrastructure, a US-based company providing infrastructure services acquired National Pipe & Plastics Inc. for an undisclosed amount. The acquisition added PVC pipe portfolio to Oldcastle Infrastructure and enables it to offer integrated solutions to its customers. National Pipe & Plastics Inc. is a US-based PVC pipes company. Asia-Pacific was the largest region in the polyvinyl chloride market in 2023. North America was the second-largest region in the global polyvinyl chloride market. The regions covered in the poly-vinyl chloride market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the poly-vinyl chloride market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The polyvinyl chloride (PVC) market consists of the sales of molecularly oriented polyvinyl chloride and modified polyvinyl chloride. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The poly-vinyl chloride (PVC) market research report is one of a series of new reports from The Business Research Company that provides poly-vinyl chloride (PVC) market statistics, including poly-vinyl chloride (PVC) industry global market size, regional shares, competitors with a poly-vinyl chloride (PVC) market share, detailed poly-vinyl chloride (PVC) market segments, market trends and opportunities, and any further data you may need to thrive in the poly-vinyl chloride (PVC) industry. This poly-vinyl chloride (PVC) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Ethyl Alcohol And Other Basic Organic Chemical Market Definition And Segments

The ethyl alcohol is a clear, colorless liquid made through the hydration of ethylene and basic organic chemicals are substances that contain carbon and hydrogen. The ethyl alcohol is highly flammable and contains pleasant odor and burning taste. The main types of ethyl alcohol and other basic organic chemicals are synthetic sweeteners, plasticizers, ethyl alcohol, silicone (except resins), fatty acids, gum, and wood chemicals. Ethyl alcohol is a colorless, volatile, flammable liquid C2H5OH that is the intoxicating agent in liquors and is used as a solvent and in fuel. The grades are food grade, industrial grade, and cosmetics grade. The end-user industries are the chemical industry, coating and printing industry, electronics industry, food and pharmaceutical industry, and other end-user industries. The ethyl alcohol and other basic organic chemical market covered in this report is segmented – 1) By Type: Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum and Wood Chemicals 2) By Grade: Food Grade, Industrial Grade, Cosmetics Grade 3) By End User Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries The ethyl alcohol and other basic organic chemical market size has grown strongly in recent years. It will grow from $1,303.83 billion in 2023 to $1,421.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to industrialization, petrochemical industry growth, consumer product manufacturing, agricultural chemicals, energy sector demand. The ethyl alcohol and other basic organic chemical market size is expected to see strong growth in the next few years. It will grow to $1,970.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to renewable energy and biofuels, environmental regulations, circular economy initiatives, the adoption of green chemistry principles, health and wellness trends. Major trends in the forecast period include biobased chemicals, specialty chemicals, sustainable packaging, carbon capture and utilization (ccu), personal care and cosmetics.

Rising Alcoholic Beverage Consumption Boosts The Boosts Ethyl Alcohol And Organic Chemicals Market

Increasing consumption of alcoholic beverages is expected to propel the growth of the ethyl alcohol and other basic organic chemicals market going forward. Alcoholic drinks are those appropriate for human consumption and have a volume alcohol content of 1% or higher. Ethyl alcohol (ethanol) is the primary alcohol found in alcoholic beverages, and it serves as the main psychoactive ingredient. Other basic organic chemicals, such as flavor compounds and sugars, contribute to the taste, aroma, and complexity of alcoholic beverages, enhancing their overall sensory experience. For instance, in 2021, according to the National Institute on Alcohol Abuse and Alcoholism, a US-based alcohol-related researcher, the U.S. ethanol consumption from all alcoholic beverages combined per person in 2021 was 2.51 gallons, up 2.9% from 2.44 gallons in 2020. Furthermore, according to the U.S. Census area, per capita alcohol consumption increased between 2020 and 2021 in the Northeast by 5.4%, the Midwest by 1.6%, the South by 3.4%, and the West by 2.3%. Therefore, the increasing consumption of alcoholic beverages will drive the market for ethyl alcohol and other basic organic chemicals.

Rising Demand For Ethanol As A Green Fuel Boosts Ethyl Alcohol And Organic Chemicals Market Growth

Increasing demand for ethanol as a fuel component is expected to propel the growth of the ethyl alcohol and other basic organic chemicals market going forward. Ethanol is a renewable biofuel produced from plant materials and used as a component in gasoline to reduce emissions and increase octane ratings. Ethanol (ethyl alcohol) improves fuel efficiency and reduces emissions when mixed with gasoline, making it a greener and more sustainable fuel option. For instance, in August 2023, according to the Foreign Agricultural Service, a US-based government agency, fuel ethanol consumption in Canada increased by an estimated 20 percent year over year, and the production of biodiesel reached 416 million liters in 2022, up from 405 million liters the previous year. Therefore, the increasing demand for ethanol as a fuel component is driving the growth of the ethyl alcohol and other basic organic chemicals market. Major companies operating in the ethyl alcohol and other basic organic chemical market include Archer-Daniels-Midland Company (ADM), Wacker Chemie AG, Celanese Corporation, Valero Energy Corp, Lanxess AG, Evonik Industries AG, Kao Corporation, The Clorox Co, Eastman Chemical Corporation, Atul Limited, HPCL Biofuels Limited, Advanced Bioenergy LLC, Aventine Renewable Energy, Andersons Ethanol Group, British Petroleum, Braskem, Cargill Corporation, Butamax Advanced Biofuels LLC, Green Plains Inc., Flint Hill Resources LP, LyondellBasell Industries NV, INspec Ethylene Oxide and Specialities (INEOS), Mitsubishi Chemical Corporation, Baden Aniline and Soda Factory ( BASF SE), DowDuPont Inc., PPG Industries Inc., Solvay SA, Huntsman Corporation, Ashland Global Holdings Inc.

Global Interest Rate Hampered Ethyl Alcohol And Other Basic Organic Chemical Market

Interest rates globally are forecasted to rise in most of the developing and developed economies during the forecast period. This is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is such asly to affect new investments in terms of expansion, research, and development of new products. For instance, US interest rates are expected to rise by up to 3.5% by 2021. These factors are expected to have a negative impact on the ethyl as borrowing money will become expensive, thereby affecting market growth.

Automation And Instrumentation Boosting Efficiency In Chemical Manufacturing

Chemical companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters that help to improve operational efficiency in manufacturing facilities. For example, Siemens process instrumentation and gas analytics solutions increase productivity and efficiency during plant operations.

Twelve Benefit Corporation Partnered With Lanzatech To Create Ethanol From Co2

In March 2022, the Twelve Benefit Corporation, a US-based carbon transformation company, partnered with LanzaTech to transform CO2 emissions into ethanol as part of an ongoing research and development partnership. The two companies combined their technological capabilities to create ethanol, which is a common alcohol used as fuel and an ingredient in hand sanitizers, personal care products, and household cleaning products. Common methods for producing ethanol include biological methods or petrochemical methods such as ethylene hydration that use fossil fuels. Although this method is dependent on crops that could otherwise be grown for food or as waste feedstocks, it is also frequently generated utilizing corn and other agricultural feedstocks. By leveraging Twelve's carbon transformation technology to convert CO2 to CO, followed by LanzaTech's tiny Continuous Stirred Tank Reactor (CSTR), the two companies are eliminating the use of fossil fuels in the manufacturing of ethanol. This strategy can create ethanol on an industrial scale and reduce CO2 emissions at the same time because it is very scalable. A US-based company called LanzaTech provides carbon recycling technology. Asia-Pacific was the largest region in the ethyl alcohol and other basic organic chemical market in 2023. North America was the second-largest region in the ethyl alcohol and other basic organic chemical market. The regions covered in the ethyl alcohol and other basic organic chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ethyl alcohol and other basic organic chemical market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The ethyl alcohol and other basic organic chemicals market consists of the sales of tall oil and wood distillates, distil coal tars, wood or gum chemicals, naval stores, natural tanning materials, charcoal briquettes, charcoal, cyclic crudes or cyclic intermediates, aromatic petrochemicals, industrial gases, and synthetic organic dyes and pigments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The ethyl alcohol and other basic organic chemicals market research report is one of a series of new reports from The Business Research Company that provides ethyl alcohol and other basic organic chemicals market statistics, including ethyl alcohol and other basic organic chemicals industry global market size, regional shares, competitors with an ethyl alcohol and other basic organic chemicals market share, detailed ethyl alcohol and other basic organic chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the ethyl alcohol and other basic organic chemicals industry. This ethyl alcohol and other basic organic chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Snow Pusher Market Definition And Segments

A snow pusher is a machine provided with a curved and perpendicular mold board in the direction of the motion, and a side wall is present on either side to capture the snow and push it in the required direction. The snow pusher is used to clear roads or areas where snow is an obstruction for the transportation of vehicles or humans with properties such as abrasion-resistant skid shoes. The main types of snow pushers are steel-edge, rubber edge, pull-back, turf pusher, and v-plow. The steel-edged snow pushers are used to remove snow from uneven or hard-packed snow. Steel-edged snow pushers can be defined as equipment made of steel to remove snow from the surface. The different sales channels include original equipment manufacturers (OEMs) and the aftermarket. These are used on roads and streets, railways, and airports. The snow pusher market covered in this report is segmented – 1) By Product Type: Steel Edge, Rubber Edge, Pull Back, Turf Pusher, V-Plow 2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket 3) By Application: Roads and Streets, Railways, Airports The snow pusher market size has grown steadily in recent years. It will grow from $2.6 billion in 2023 to $2.7 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to increased incidence of snowfall and harsh winter conditions, growth in urbanization and infrastructure development, need for efficient snow removal in residential and commercial areas, emphasis on road safety and accessibility during winter months safety and accessibility, demand from municipalities, airports, and commercial property owners, regulatory compliance and mandates for snow removal. The snow pusher market size is expected to see steady growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to adoption of environmentally-friendly snow removal solutions, expansion of winter tourism and skiing industry, research and development in autonomous snow removal technologies, need for quick response and timely snow clearing operations, emphasis on ergonomic designs and operator comfort in snow pushers, growth in demand for multi-functional snow pusher attachments. Major trends in the forecast period include telematics and GPS integration, adjustable blade configurations, hydraulic and electric actuators, anti-icing and de-icing technologies, smart sensors for surface detection.

Increase In Accidents Dur To Snow Drives The Demand For Snow Pusher

The increase in accidents is expected to propel the snow pusher market going forward. An accident refers to an unfortunate incident that happens unexpectedly and unintentionally, which causes typical damage or injury. Due to heavy snowfall, roads will become slippery, and car tires' grip is very low, and there is a heavy chance of cars skidding. Snow pushers help to clear snow on roads and can avoid road accidents. For instance, in 2022, according to the National Safety Council, a US-based non-profit public service agency dedicated to improving health and safety, there were 813 deaths and 1,718 injuries as a result of 69,473 weather occurrences. There were 159 winter fatalities and 351 winter injuries. Therefore, rising awareness about public safety is expected to propel the growth of the snow pusher market.

Expanding Transportation And Logistics Networks Drives The Snow Pusher Market

Expanding transportation and logistics networks are expected to propel the growth of the snow pusher market in the coming years. Transportation and logistics networks, also known as supply chain networks, are intricate networks that connect numerous. Snow pushers are essential in transportation because they make it easier to remove snow and ice off roads, highways, airports, trains, and other key transportation infrastructure. For instance, in August 2022, according to the United States Bureau of Transportation Statistics, a US-based transportation data collection, analysis, and distribution organization, the Freight Transportation Services Index (TSI), which measures the volume of freight handled by for-hire transportation companies, grew 1.7 percent from May to reach the highest record during June, marking the second month of rise. Between June 2021 and June 2022, the index climbed by 4.6 percent. Therefore, expanding transportation and logistics networks is driving the snow pusher market. Major companies operating in the snow pusher market include Craig Manufacturing Ltd., HLA Snow, Protech Manufacturing & Distribution Inc., Rockland Manufacturing Company, Avalanche Plow, Snow Wolf Plows, Rylind Manufacturing Inc., The Toro Company, Kage Innovation LLC, BD Manufacturing, The AMES Companies Inc., Husqvarna Group, Garant GP Inc., Fisher Engineering, Arctic Snow and Ice Control Products, Western Products, SnowEx, Sno-Way International Inc., Hiniker Company, Blizzard Snowplows, Henke Manufacturing Corporation, Reist Industries Inc., CPW Industries, Metal Pless Inc., Aebi Schmidt Holding AG, Epoke A/S

Technological Advancements In The Snow Pusher Market

Technological advancements have emerged as the key trend gaining popularity in the snow pusher market. Major companies operating in the snow pusher market are focused on developing new technological solutions to improve road safety and enhance the infrastructure for cleaning the surfaces of the airport runway, railway tracks, roads, and walkways. For instance, in June 2022, SnowEx Products, a US-based manufacturing company of snow pushers and related equipment, launched the enhanced product line POWER PUSHER plows with the all-new TRACE edge technology. This system consists of two-foot portions that move vertically, sway, and bounce to accommodate curves and impediments in the plowable surface. The pushers also have a 3/4'' cutting edge with carbide insertions, making them tough enough for commercial use. Side plates that are self-level to maintain the TRACE edge in contact with the plowable surface.

Strategic Partnerships To Expand Product Portfolio

Major companies operating in the snow pusher market are focusing on developing strategic partnerships to expand product portfolio. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in September 2023, The Toro Company, a US-based manufacturing company of snow removal equipment, announced a strategic alliance with Lowe's Companies Inc., to offer Toro zero-turn riding mowers, portable power equipment, walk mowers, and snow blowers in both gas and fast-rising battery categories. Lowe's Companies Inc. is a US-based home improvement-focused retail enterprise.

Douglas Dynamics Expands Its Snow And Ice Equipment Portfolio With Trynex International Acquisition

In October 2021, Douglas Dynamics, a US-based manufacturer of snow and ice removal equipment acquired TrynEx International for an undisclosed amount. Through the acquisition, under the SnowEx brand, Douglas Dynamics is expanding its portfolio of highly respected ice management equipment, as well as turf application equipment (TurfEx) and industrial attachment items (SweepEx). TrynEx International is a US-based snow pusher manufacturing company. North America was the largest region in the snow pusher market in 2023. The regions covered in the snow pusher market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the snow pusher market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The snow pusher market consists of sales of winged blade plows, skid steers, and tractors with plows. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The snow pusher market research report is one of a series of new reports from The Business Research Company that provides snow pusher market statistics, including snow pusher industry, snow pusher global market size, regional shares, competitors with a snow pusher market share, detailed snow pusher market segments, market trends and opportunities, and any further data you may need to thrive in the snow pusher industry. This snow pusher market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Potato Processing Market Definition And Segments

Potato processing refers to convenience potato products primarily made by washing, peeling, size reduction, and the removal of defective matter. These processing steps involve a wide combination of heat treatments, cooling, dehydration, and frying systems or freezing stages. Peeled potatoes are parboiled, air dried, par-fried, frozen, and packaged after blasting through cutting blades. After that, the completed products are packaged and stored based on product requirements. The main types of processed potato products include frozen, dehydrated, chips and snacks, and others. Frozen products refer to food products made of potatoes stored in a cold place to keep them from spoiling. Fresh potatoes are diced and frozen to reduce the cooking time. They are used in ready-to-cook and prepared meals, snacks, and food additives in soups, gravies, bakery items, and deserts. They are distributed through food services, specialty stores, convenient stores, departmental stores, and others. The potato processing market covered in this report is segmented – 1) By Product: Frozen, Dehydrated, Chips And Snack Pellets, Other Products 2) By Application: Ready to Cook and Prepared Meals, Snacks, Food Additives in Soups, Gravies, Bakery, Desserts, Other Applications 3) By Distribution Channel: Food Services, Specialty Stores, Convenient Stores, Departmental Stores, Other Distribution Channels The potato processing market size has grown strongly in recent years. It will grow from $30.41 billion in 2023 to $32.13 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to rise in demand for ready-to-cook meals and frozen products, increased demand for convenience food in line with changing lifestyles and busy schedules, rise in the number of hotels and restaurants, increase in promotional activities and social media marketing for potato processing products, availability of a wider range of potato processing products. The potato processing market size is expected to see strong growth in the next few years. It will grow to $40.61 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to growing demand for healthy potato products such as sweet potato chips and baked potato chips, increasing global food trade and globalization, upsurge in health consciousness, growing global population, sustainability and eco-friendly practices. Major trends in the forecast period include innovating new processing technology and advanced systems, development of new products, emergence of potato-based snack products, gluten-free and allergen-free products, clean label and natural ingredients.

Consumer Demand For Convenience Foods Spurs Growth In The Potato Processing Market

Growing consumer preferences for convenience foods to save time and effort are driving the potato processing market. The lifestyle, tastes, and preferences of consumers are rapidly changing. Consumers are increasingly shifting toward convenience foods due to a lack of time to prepare home-cooked food and a willingness to experiment and explore different tastes. As a source of daily nourishment and a time-saving option, processed potato products are used in most convenience food. According to the study conducted by OnePoll in partnership with Farm Rich on 2,000 Americans in 2021, more than 69% of respondents preferred to continue with comfort food in the post-pandemic era. Due to an increase in customer preferences for convenience foods, there has been an increase in the growth of the potato processing market.

Lifestyle Changes Catalyze Growth In The Potato Processing Market

The increase in lifestyle changes is expected to propel the growth of the potato processing market going forward. Lifestyle changes refer to significant alterations or modifications in an individual's or a community's patterns of living, including daily routines, behaviors, and habits. Changing dietary preferences towards convenience and processed foods due to busier lifestyles have led to an increased demand for processed potato products. Consumers often opt for these products as quick and easy meal or snack options. For instance, in January 2021, according to the Government Digital Services, a UK-based government body, in 2021, 80% of adults over the age of eighteen choose to alter their way of living. Therefore, the increase in lifestyle changes is driving the growth of the potato processing market. Major companies operating in the potato processing market include Lamb Weston Holdings Inc., The Kraft Heinz Co., McCain Foods Ltd., John Richard Simplot, Agristo NV, Key Technology Ltd., Urschel Laboratories Inc., Sormac B.V., The Little Potato Company Ltd., J.R. Short Milling Company, Agrana Beteiligungs-AG, Aviko B.V., Farm Frites International B.V., Idahoan Foods LLC, PepsiCo Inc., Intersnack Group GmbH & Co KG, Calbee Inc., Kellanova Co., Old Dutch Foods Inc., Burts Potato Chips Ltd., Herr Foods Inc., Kettle Foods Inc., Snyder's-Lance Inc., Utz Quality Foods LLC, Wise Foods Inc., Ballreich Snack Food Company, Cape Cod Potato Chips, Gibble's Foods Inc., Zapps – Utz Quality Foods., Avure Technologies Inc., Idaho Pacific Corporation

Leading Potato Processing Companies Embrace Innovation With E²E Steamclosure Technology

Major companies operating in the potato processing market are innovating new technologies such as E²E SteamClosure to increase their profitability in the market. The E²E SteamClosure is a method that just concentrates on taking the moisture out of potatoes and turning it into reusable water. For instance, in July 2023, Tummers – Food Processing Solutions, a Netherland-based food processing company launched E²E SteamClosure. Specifically for the processing of potatoes, E²E SteamClosure provides a more efficient and sustainable option for the food processing sector. This ground-breaking technology may help conserve energy, cut emissions, and enhance the production process overall by concentrating on moisture extraction and energy conversion.

FMC Corporation Advances Potato Processing Market With Innovative Fungicide Quintect 105Sc

Major companies operating in the potato processing market are innovating new products such as Quintect 105SC to increase their profitability in the market. Quintect 105SC is a fungicide product designed to control late blight in potatoes. For instance, in February 2023, FMC Corporation, a US-based food processing company introduced Quintect 105SC. It controls oomycetes disease with great efficacy and a unique way of action. The product can be used up to 8 fl oz per acre every application or 32 fl oz per acre per season. It comes in a liquid formulation. Quintect 105SC has been introduced in a number of Indonesian locations, and FMC Indonesia has also unveiled its new official website to provide farmers in that country with a simple means of locating the best answers to their dietary requirements and crop-related problems.

Lamb Weston Expands Presence In Asia-Pacific With Acquisition Of Crackerjack Foods

In September 2023, Lamb Weston Holdings Inc., a US-based food processing company acquired Crackerjack Foods for an undisclosed amount. With the purchase of Crackerjack Foods, Lamb Weston was able to increase its market share in the Australian foodservice sector. This action is in line with Lamb Weston's plan to expand its clientele in the Asia-Pacific area. Because the two businesses shared a dedication to quality and innovation and had similar product ranges, Lamb Weston saw the purchase of Crackerjack Foods as a strategic match. Crackerjack Foods is a US-based food processing company. Western Europe was the largest region in the potato processing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the potato processing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the potato processing market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The potato processing market consists of sales of French fries, soups, salads, potato snacks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The potato processing market research report is one of a series of new reports from The Business Research Company that provides potato processing market statistics, including potato processing industry global market size, regional shares, competitors with a potato processing market share, detailed potato processing market segments, market trends and opportunities, and any further data you may need to thrive in the potato processing industry. This potato processing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Insulated Gate Bipolar Transistor (IGBT) Market Definition And Segments

The insulated gate bipolar transistor (IGBT) refers to a three-terminal semiconductor switching device used in a variety of electronic devices for fast switching with high efficiency. These devices are typically employed in amplifiers to switch/process complex wave patterns with pulse width modulation (PWM). The main types of insulated gate bipolar transistor (IGBT) are discrete and modular. The discrete insulated gate bipolar transistors used in power factor correction circuits and dc/ac converter circuits, as well as ups, power conditioners, air conditioners, and welding equipment. IGBT have three types of power rating namely high power, medium power and low power and are used in EV/HEV, renewables, ups, rail, motor drives, industrial and commercial. The insulated gate bipolar transistor (IGBT) market covered in this report is segmented – 1) By Type: Discrete, Modular 2) By Power Rating: High Power, Medium Power, Low Power 3) By End-User: EV/HEV, Renewables, UPS, Rail, Motor Drives, Industrial, Commercial The insulated gate bipolar transistor (IGBT) market size has grown rapidly in recent years. It will grow from $8.32 billion in 2023 to $9.48 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to increased demand for power electronics, increased need for energy efficiency, rise in industrial automation, increased demand for electronic components, increased demand in consumer electronics sector. The insulated gate bipolar transistor (IGBT) market size is expected to see rapid growth in the next few years. It will grow to $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to rising electric mobility, increasing energy storage systems, growing demand from aerospace and defense, increasing electrification, renewable energy expansion. Major trends in the forecast period include adoption of wide bandgap semiconductors, miniaturization trend, integration with sic diodes, smart IGBTs, digital control.

Rising Electric Vehicle Production Fuels Insulated Gate Bipolar Transistor (IGBT) Market Growth

The increased production of electric vehicles (EV) is expected to propel the growth of the insulated gate bipolar transistor (IGBT) market. IGBTs are a type of semiconductor device used as an electronic switch that is used to take DC power from a car battery and convert AC control signals to the high power needed to turn the motor through an inverter. IGBT is a highly efficient component for EV motors due to its fast switching characteristics which lead to less power usage resulting in greater mileage. There will be a significant demand for IGBTs in response to the increased production of EVs. For instance, according to the International Energy Agency (IEA), there will be 125 million electric vehicles on the roads by 2030. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase to 14 million sales of electric vehicles in 2023. Therefore, the increased production of electric vehicles drives the insulated gate bipolar transistor market.

Surging Consumer Electronics Demand Fuels Insulated Gate Bipolar Transistor (IGBT) Market Growth

The increasing demand in consumer electronics is expected to propel the growth of insulated gate bipolar transistor (IGBT) market going forward. Consumer Electronics are electronic devices designed for everyday use by individuals and households used for entertainment and communication. Consumer electronics use insulated gate bipolar transistors (IGBT) as a component in the circuitry that require power control, switching and for voltage regulation. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, in 2022, LG earned its highest annual revenue ever, an increase of 12.9% from 2021. The revenue for the LG Home Appliance & Air Solution Company in 2022 was $22.5 billion, an increase of 10.3% from 2021. Therefore, the Increasing demand for consumer electronics is driving the growth of the insulated gate bipolar transistor (IGBT) market going forward. Major companies operating in the insulated gate bipolar transistor (IGBT) market include Renesas Electronics Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., ROHM Co. Ltd., SEMIKRON International GmbH, ABB Group, Advanced Power Electronics Corporation, Alpha and Omega Semiconductor Inc., Applied Power Systems Inc., C&H Technology Inc., Darrah Electric Company, Dynex Semiconductor Ltd., Fujitsu Ltd., International Rectifier Ltd., Jameco Electronics Co., Littelfuse Inc., Microsemi Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, Powerex Inc., Sensitron Semiconductor Co., Silan Microelectronics Co. Ltd., STMicroelectronics N.V., Toshiba Corporation, Transphorm Inc., Vishay Intertechnology Inc., WeEn Semiconductors Co. Ltd., Wolfspeed Inc., Xilinx Inc., Yangzhou Yangjie Electronic Technology Co. Ltd.

Toshiba Introduces Enhanced Gt30J65Mrb Insulated Gate Bipolar Transistor (IGBT) For Improved Power Factor Correction

Major companies operating in insulated gate bipolar transistor (IGBT) are focusing on innovating new products, such as the GT30J65MRB, to provide reliable services to customers. GT30J65MRB is used as an insulated gate bipolar transistor within power factor correction (PFC) air conditioners, home appliances, and power supplies for industrial equipment. For instance, in March 2023, Toshiba Electronic Devices & Storage Corporation, a Japan-based company that manufactures electronic devices, launched the GT30J65MRB. GT30J65MRB is 650 volts (V) -rated discrete insulated gate bipolar transistor (IGBT). GT30J65MRB is used as an inverter in air conditioners. GT30J65MRB enhances switching losses with an improvement of at least 40% when compared to previous-generation devices.

Nexperia Launched Ngw30T60 Insulated Gate Bipolar Transistor (IGBT) For High-Power Industrial Applications

Major companies operating in insulated gate bipolar transistor (IGBT) are focusing on innovating new products, such as the NGW30T60 insulated gate bipolar transistor (IGBT), to provide reliable services to customers. The NGW30T60 insulated gate bipolar transistor (IGBT) is used as an ideal solution for industrial power conversion applications up to 50 kHz (kilohertz). For instance, in July 2023, Nexperia, a Netherlands-based semiconductor manufacturer, launched the NGW30T60 insulated gate bipolar transistor (IGBT). The NGW30T60 insulated gate bipolar transistor (IGBT) is 600 volts (V) insulated gate bipolar transistor (IGBT) device used for high power conversion applications like power inverters, uninterruptible power supply (UPS), photovoltaic (PV) strings, and electric vehicle (EV) charging.

Hyundai Motor Company And Kia Corporation Partner With Infineon For Enhanced Electric Vehicle (EV) Power Semiconductor Supply

In October 2023, Hyundai Motor Company, a South Korea-based Automotive manufacturer and Kia Corporation, a South Korea-based automobile manufacturer made strategic partnership with Infineon Technologies AG. With this partnership, Hyundai Motor Company and Kia Corporation aims to strengthen the supply of power semiconductors) including diode, insulated-gate bipolar transistor (IGBT) and silicon carbide (SiC) power modules for Hyundai and Kia electric vehicles (EVs). Infineon Technologies AG, a Germany-based semiconductor manufacturer which provides insulated gate bipolar transistor (IGBT). Asia-Pacific was the largest region in the insulated gate bipolar transistor (IGBT) market in 2023. The regions covered in the insulated gate bipolar transistor (IGBT) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the insulated gate bipolar transistor (IGBT) market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The insulated gate bipolar transistor (IGBT) market consists of sales of punch through IGBT and non-punch through IGBT. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insulated gate bipolar transistor (IGBT) market research report is one of a series of new reports from The Business Research Company that provides insulated gate bipolar transistor (IGBT) market statistics, including insulated gate bipolar transistor (IGBT) industry, global insulated gate bipolar transistor (IGBT) market size, regional shares, competitors with an insulated gate bipolar transistor (IGBT) market share, detailed insulated gate bipolar transistor (IGBT) market segments, market trends and opportunities, and any further data you may need to thrive in the insulated gate bipolar transistor (IGBT) industry. This insulated gate bipolar transistor (IGBT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.