Industries Study Report

Adhesives Industry: Product Price Trend Analysis, 2023 - 2030

Adhesives Industry Data Book - Packaging Adhesives, Construction Adhesives, Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 – 2030

The economic value generated by the adhesives industry was estimated at approximately USD 111.58 billion in 2022 and is expected to grow at a CAGR of 5.2% by 2030

Grand View Research’s adhesives sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Access the Global Adhesives Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Construction Adhesives Market Growth & Trends

The global construction adhesives market size is expected to reach USD 14.76 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, as per the new report by Grand View Research, Inc. The emergence of COVID-19 affected the construction industry around the world in 2020, and its impact continued in 2021 and 2022 as well in certain countries.

Construction represents close to a 13% share of the global GDP. Thus, a short impact on the sector affects the materials demand, thereby reducing the growth of the market. Most of the construction sites during the first half of 2020 faced numerous challenges associated with operations and supply chains. However, the market started recovering in 2021. Construction spending on infrastructure projects is likely to rise in 2022, on account of the passage of public and private investments.

Focus on sustainable construction and infrastructure projects is anticipated to assist the market growth during the coming years. Governments may provide stimulation to the economy by encouraging carbon reduction targets. These incentives might come in the form of direct public funds and policy changes. Companies expect demand for sustainable buildings and communities that promote healthier lifestyles, which is anticipated to drive the demand for construction adhesives.

The adoption of digitization and emerging technologies is another key factor, which is likely to provide a boost to the building & construction sector and associated materials over the long term. Contractors are likely to use remote collaboration at various stages of projects using digital models. Distributors of adhesives and other building materials are focusing on minimal physical interactions, especially with e-commerce sites for which sales teams can handle customers and orders with digital tools.

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Wood Adhesives Market Revenue, 2020 - 2030 (USD Billion)

Wood Adhesives Market Growth & Trends

The global wood adhesives market size is expected to reach USD 8.01 billion by 2030, expanding at 4.5% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing demand from engineered wood-based panel manufacturers is a significant driver of the market.

Adhesives are a preferred choice for binding wood strips, chips, fibers, strands, and veneers for manufacturing engineered wood-based panels such as plywood, particle board, oriented strand board, medium-density fiberboard, and high-density fiberboards. Increasing population and rapid urbanization accompanied by government initiatives to boost residential construction are likely to propel the demand for wood-based panels. This is expected to remain a key driver of market growth.

Urea-formaldehyde (UF) dominated the market in 2022 owing to its beneficial attributes such as inflammability, low cost, light color, and a very rapid cure rate. However, the low-water resistance of the product is likely to restrain its utilization over the coming years. Melamine urea-formaldehyde (MUF) resins, which possess better water resistance properties, are increasingly being used in exterior applications that are more susceptible to moisture.

Soy-based adhesives have gained popularity owing to their low-cost production, low emissions, and bio-based origin. Stringent regulations pertaining to the formaldehyde emissions that are emitted during the production of UF resin-based wood products have led to a resurgence of demand for soy-based adhesives. The demand is likely to grow further as techniques such as adding hydrolyzed soy proteins phenol-formaldehyde resins provide reduced costs without degrading performance.

Furniture is also expected to remain a major application for the product. Growing investment in high-end, branded furniture by consumers is expected to positively affect the market. Major trends affecting the industry are sustainability, digitalization, and integration of home electronics into work & home furniture. These factors have facilitated innovation and new product development in the market.

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Competitive Landscape

Key players operating in the Adhesives industry are:

B. Fuller Company
Pidilite Industries Ltd. & Co. KGaA
Avery Denison Corporation
Huntsman
Wacker Chemie AG

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Life Science Microscopes Industry: Growth Restraint Analysis, 2022 - 2030

Life Science Microscopes Industry Data Book - Surgical, In-vitro Fertilization, Super Resolution and Scanning Electron Microscopes Market Size, Share, Trends Analysis And Segment Forecasts, 2022 - 2030

Grand View Research’s life science microscopes Industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Life Science Microscopes Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Surgical Microscopes Market Growth & Trends

The global surgical microscopes market size is expected to reach USD 2.9 billion by 2030, growing at a CAGR of 11.37% from 2022 to 2030, based on a new report by Grand View Research, Inc. With the advent of surgical microscopes, it became easier for surgeons to perform such procedures more accurately in less time. In addition, the introduction of technologically advanced products is driving the demand for surgical microscopes as they are more precise, offer better illumination sources, and provide options for customization and technology integration based on the complexity of the procedures.

Emerging technologies such as wide-angle illumination, Red Reflex illumination, automation and augmented reality microscopy are expected to boost the market growth. International players like Carl Zeiss Meditec AG and Leica Microsystems are contributing to the market by providing highly advanced, automated, and robotic surgical microscopes for more precision.

In response to the COVID-19 pandemic, hospitals decided to suspend all the elective and non-urgent surgeries, which has negatively impacted the market. However, with the ease of restrictions, treatments are resuming in many countries, including developing nations. Also, many companies, such as Alcon and Carl Zeiss, have resumed their business operations with the given government guidelines to deliver their orders.

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In-vitro Fertilization Microscopes Market Growth & Trends

The global In-Vitro fertilization microscopes market size is expected to reach USD 193.2 million by 2030, expanding at 8.4% CAGR from 2022 to 2030, according to a new report by Grand View Research, Inc. In-vitro fertilization (IVF) microscopes are integral equipment used in any IVF lab. These microscopes have applications such as embryo assessment, and sperm selection. Thereby, advancements in microscopes and microscope-related equipment in in-vitro fertilization are expected to drive market growth.

Manufacturers are providing upright microscopes, digital microscope cameras, and software to view images together as part of a sperm analysis system to provide the complete solution for semen analysis. Moreover, as sperm analysis can be better studied by maintaining a certain temperature of the sample, manufacturers are coupling the use of such devices with an upright microscope. For instance, CooperSurgical offers andrology microscopes solutions for IVF labs. This microscope enables the assessment of the quantity and quality of the sperm. These microscopes ideally come with phase contrast and cold LED illumination. It embeds high-resolution, high-contrast imaging; ensuring the safety of the samples.

The demand for IVF procedures is on the rise due to the relaxation of travel restrictions and supportive government guidelines. For instance, the American Society of Reproductive Medicine (ASRM) announced that there is a need to ensure reproductive care with maximal safety as we will have to continue to live with COVID-19.

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Competitive Landscape

Key players operating in the Life Science Microscopes industry are:

Topcon Corporation
Seiler Instrument, Inc.
HAAG-STREIT Surgical GmbH
ARI Medical Technology Co., Ltd.
Synaptive Medical

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Active Pharmaceutical Ingredients and High Potency API Industry: Restraint Analysis

Active Pharmaceutical Ingredients and High Potency API Industry Data Book - Active Pharmaceutical Ingredients and High Potency Active Pharmaceutical Ingredients Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

Grand View Research’s API and High Potency API industry databook is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.The following data points will be included in the final product offering in two reports and one sector report overview.

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Active Pharmaceutical Ingredients Market Growth & Trends

The global active pharmaceutical ingredients market size is expected to reach USD 352.98 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.9% during the forecast period, according to a new report by Grand View Research, Inc. The market is driven by the growth of the biopharmaceutical sector, advancements in active pharmaceutical Ingredients (API) manufacturing, and an increase in the geriatric population.

The growth of the captive API segment is propelled by companies investing in solving challenges and developing new chemical ways for the production of APIs in-house. This aids in reducing costs and the risk of contamination. Artificial intelligence and protein synthesis are expected to facilitate faster development with greater control over the process.

The rising prevalence of chronic and lifestyle-based conditions, such as cardiovascular diseases, is accelerating the demand for API. For instance, as per U.S. Pharmacist in 2020, 47% of adults have at least one risk factor that supports cardiovascular disease development. Cardiovascular diseases are one of the global, critical public health burdens driving extensive R&D for APIs in the field.

The active pharmaceutical Ingredients market was positively influenced by the COVID-19 pandemic, as countries and significant players produce large quantities of components to meet the demand for the treatment of COVID-19. As a result of the outbreak, drug companies have changed the companies’ strategies to focus on a larger patient population. To treat coronavirus, the U.S., for example, requested that HCQ be imported from India. The virus has also impacted Canada's medicine supply system, potentially causing complications for patients. The increasing importance of generics, rise in consumption of biopharmaceuticals, and expanding drug research and development activities for drug manufacturing are the primary drivers driving the growth of the market. However, the market's expansion is likely to be hampered by unfavorable drug price control regimes in several countries and high manufacturing costs.

Developing nations like India are receiving an increased preference in the market over dominant API market countries, like China, owing to geopolitical situations. Furthermore, India has quality raw materials and products, a large workforce, a vast distribution network, and government subsidies through the "Make in India" program.

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High Potency Active Pharmaceutical Ingredients Market Growth & Trends

The global high potency active pharmaceutical ingredients market size is expected to reach USD 40.66 billion by 2030 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the HPAPI market is attributed to rising incidence of cancer, growing targeted therapies, and increasing application of high potency active pharmaceutical ingredients (HPAPI) in treating target diseases. Rising prevalence of cancer is expected to be a major factor. According to the WHO, cancer is the second leading cause of death, accounting for around 9.9 million deaths in 2020. Due to the growing number of people who contract the disease, cancer is regarded as one of the major health risks. The CDC states that factors such as smoking, obesity, alcohol use, and UV radiation exposure are risk factors for cancer since they contribute to the overall burden of the illness.

With limited treatment options and side effects associated with chemotherapy, there is a rising popularity of targeted therapy as it does not damage non-cancerous cells. In May 2021, Amgen, Inc. received the U.S. FDA approval for the launch of LUMAKRAS for treating patients with KRAS G12C-mutated locally advanced or metastatic NSCLC. LUMAKRAS is the first targeted product for the treatment of G12C-mutated KRAS NSCLC patients. This is likely to increase the demand for HPAPIs in the coming years. Characteristics of these anti-cancerous drugs, such as minimum exposure of drugs to non-cancerous cell and their effectiveness, are contributing to market growth.

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Competitive Landscape

Key players operating in the Active Pharmaceutical Ingredients and High Potency API industry are:

Teva Pharmaceutical Industries Ltd.
Albemarle Corporation
Viatris Inc.
Aurobindo Pharma
Sun Pharmaceutical Industries Ltd.

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Plastics Industry: Value Chain Analysis, 2023 - 2030

Plastics Industry Data Book - Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 – 2030

Grand View Research’s plastics industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Access the Global Plastics Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Plastic Resins Market Growth & Trends

The global plastic resins market size is expected to reach USD 1.07 trillion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a 3.2% CAGR over the forecast period. The increasing consumption of plastic resins in construction, automotive, electrical, and electronics applications is boosting the market growth. Government intervention to reduce overall vehicle weight to improve fuel efficiency and reduce carbon emissions has prompted automakers to use resins to replace steel and aluminum in automotive components.

Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Agency (EPA), as well as EU initiatives to develop plastics applications for light-weight and fuel-efficient cars, are expected to fuel global growth and promote the market. However, the ongoing health crisis and the lockdown imposed by various governments to contain the spread of the coronavirus pandemic have led to a decline in the consumption of plastic resins. It is expected to further negatively impact the market growth in the years to come.

Strict restrictions governing the recyclability and deterioration of traditional building materials like metal and wood are likely to boost the demand for textiles in pipes, windows, cables, storage tanks, and other uses. Plastics are long-lasting and energy-efficient, as well as cost-effective and safe, which encourages their usage in construction. The global market is segmented into crystalline resin, non-crystalline resin, engineering plastics, and super engineering plastics by type. The crystalline resin was the largest segment, accounting for 61.9% of global sales in 2021. The crystalline resin segment mainly includes epoxy, polyethylene, and polypropylene resins.

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Recycled Plastics Market Growth & Trends

The global recycled plastics market size was valued at USD 47.60 billion in 2022 and is expected to exhibit grow at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2030. Increasing environmental concerns, rapid urbanization & industrialization, and the rising need to reduce the carbon footprint in the manufacturing of virgin plastic resin are expected to drive the demand for recycled plastics over the forecast period. The demand for recycled plastics is expected to increase mainly in the packaging application, which includes packaging of processed food & beverages, medical, electronics, and various other products, owing to the growing number of COVID-19 positive cases.

The demand for medical & healthcare products has increased owing to the safety and hygiene required to tackle the pandemic situation. Amid the global COVID-19 pandemic, the demand for electrical & electronic products, such as laptops and mobiles, has increased as companies are following the work-from-home model and educational institutions have shifted from classroom learning to online classes. Thus, the growth in the demand for electrical & electronic products is expected to drive the market over the forecast period. The regional market of Asia Pacific is anticipated to register the fastest growth rate during the forecast period.

This growth can be attributed to various factors, such as the presence of supportive government initiatives like Make in India, Atmanirbhar Bharat (self-dependent India), rising number of manufacturers operating in the electrical & electronics, automotive, and textile industries, and increasing R&D investments by private as well as public organizations for the development of new applications for recycled plastics. In addition, various electronic products and automotive components manufacturing companies have started looking toward India for establishing their manufacturing facilities post-COVID-19 pandemic. This will also provide tremendous growth opportunities to the regional market in the years to come.

Go through the table of content of Plastics Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Plastics industry are:

Arkema
Celanese Corporation
Eastman Chemical Company
Chevron Phillips Chemical Co., LLC
Lotte Chemical Corporation

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Ammunition Industry: Recent Developments and Impact Analysis, 2023 - 2030

Ammunition Industry Data Book - Small Caliber Ammunition, Medium Caliber Ammunition and Large Caliber Ammunition Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

Grand View Research’s ammunition sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

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Small Caliber Ammunition Market Growth & Trends

Terrorism and political violence risks are expected to incline on account of rising geopolitical tensions and the weakening of liberal democratic governance. Also, the repercussive effects of chronic conflicts are emerging as one of the major factors, intensifying the political violence across the globe. Protracted and complex armed conflicts with multiple states and non-state actors are some of the major contributing factors to political violence, thereby having a degrading effect on the security and stability of the regions. Also, a broader shift toward populist nationalism and authoritarian governance is one of the major factors heightening the war and civil commotion risks. These factors are expected to positively influence the market growth of small-caliber ammunition.

5.56mm caliber includes 5.56 × 45, and others. The 5.56mm NATO cartridge can be recognized by its appearance, the painting of projectile tips, the stamping with the initials of the manufacturer and manufacturing year on the base of the cartridge case, and the markings on the packing containers. 5.56mm caliber are expected to rise owing to their high availability and are used by the Soviet Union on a large scale.

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Medium Caliber Ammunition Market Growth & Trends

In the recent past, the prospects of interstate conflicts have reached their peak after the end of the Cold War. Also, weak leadership in international diplomacy coupled with rising geopolitical tensions have contributed to the sustained risk of armed conflict in recent years. Moreover, the growing rate of polarization over economic, political, and social issues in mature economies coupled with division in Western countries in the face of complex risks and threats, is further projected to deteriorate global security and lead to strategic uncertainty.

The Asia Pacific region has witnessed an unprecedented surge in defense spending over the past decade. Rising geopolitical tension and border disputes between the regional powers have been the primary driving factor boosting the defense spending in the region. Additionally, the growing threat from terrorist activities and separatist insurgency has had a major influence on increasing defense spending in the Asia Pacific region. This in turn is expected to positively influence the market for medium caliber ammunition over the forecast period.

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Competitive Landscape

Key players operating in the Ammunition industry are:

Rheinmetall Defense
Nexter KNDS Group
Hanwha Corporation
ST Engineering
Remington Arms Company LLC

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Healthcare Information Systems Industry: Deployment Outlook and Competitive Insights, 2023 - 2030

Healthcare Information Systems Industry Data Book - Hospital Information Systems, Pharmacy Automation Systems, Laboratory Informatics and Revenue Cycle Management Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Healthcare Information Systems Industry generated over USD 406.4 billion in 2022 and is expected to grow at a CAGR of 13.3% over the forecast period.

Grand View Research’s healthcare information systems industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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Hospital Information System Market Growth & Trends

The global hospital information system market size is expected to reach USD 405.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 17.7% from 2023 to 2030. Hospital information systems are being increasingly adopted to improve operational efficiency in the legal, administrative, and financial tasks in hospital facilities, which is one of the key factors driving industry growth. Moreover, increasing awareness about advanced IT services and rising demand to curb the growing healthcare costs are other key drivers of the industry. Several benefits associated with HIS, such as lower healthcare expenditure and higher operational efficiency of the systems, are expected to boost the adoption of IT solutions in healthcare facilities.

Hospital information solutions aid in reducing medical and administration errors. Electronic Health Records (EHRs), electronic medical records, patient engagement solutions, and population health management are the key types of information systems registering high adoption among end-users. The growing need for efficient management of a large volume of healthcare data generated and its accessibility by medical practitioners is also driving market growth. Furthermore, IT companies and healthcare settings are entering into collaborations and partnerships to curb the rising costs, streamline data storage, and effectively use data analytics for better healthcare delivery and outcomes coupled with efficient management and distribution of patient data.

For instance, in August 2022, Augmedix partnered with Adventist, the partnership will provide physicians with automated medical documentation, which will help reduce the burden on the physicians. Increasing initiatives undertaken by various governments to promote the adoption of the HIS are expected to boost the growth of the industry during the forecast period. The increased healthcare spending by the governments globally is also expected to positively contribute to the growth of this industry. For instance, the Australian Government spent USD 98.3 billion in 2021-22.

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Laboratory Informatics Market Growth & Trends

The global laboratory informatics market size is expected to reach USD 4.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2023 to 2030. Increasing requirements for life sciences companies to comply with regulatory demands has further promoted the incorporation of Laboratory Information Management Systems (LIMS) as it helps professionals understand and fulfill complex regulatory obligations. Furthermore, demand for cost-efficient workflow management systems is anticipated to drive the market over the forecast period. The rising adoption of LIMS solutions by biobanks, coupled with the increasing demand for integrated healthcare solutions, is the key factor contributing to the growth of the market. In addition, growing awareness levels amongst the end-use segments and the technological evolution of LIMS solutions are anticipated to fuel the growth in the coming years.

Demand for fully integrated LIMS platforms is growing in accordance with the requirements of the life sciences and research industries to reduce the incidence of errors in data management and improve the qualitative analysis of research information. The above-mentioned factors are expected to drive the LIMS product segment. Associated benefits of ECM such as database management of large unstructured or structured medical information and supportive government initiatives are expected to contribute to the lucrative growth of the ECM product segment over the forecast period. The introduction of technologically advanced software solutions and their widespread adoption by the healthcare IT providers are expected to impede the growth of the on-premise delivery mode segment over the forecast period. Furthermore, advantages associated with its usage, including remote access to information, reduced operational cost, and real-time data tracking, are contributing to its rising demand.

The outbreak of the coronavirus has resulted in a shutdown of laboratories around the world. Movement restrictions have created a logistical problem for players, resulting in the shortage of on-premise delivery of products. However, the high demand for COVID-19 testing scaled up laboratory operations and created new challenges like the administration of a large volume of patient specimens and test data. To accelerate the high demand for COVID-19 tests, a LIMS plays an essential role in labs, which led to the implementation of the product. For instance, the Matrix Covid LIMS is pre-configured for fast deployment into laboratories executing Covid testing. This solution has already been installed in numerous clinical diagnostic laboratories to drive productivity and support the identification of COVID-19 positive cases.

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Competitive Landscape

Key players operating in the Healthcare Information Systems industry are:

Agfa Gevaert NV
GE Healthcare
Siemens Healthineers
Epic Systems Corporation
NextGen Healthcare

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Insulation Industry: Revenue Driver Analysis, 2023 - 2030

Insulation Industry Data Book - Board Insulation, Blanket Insulation, Pipe Insulation and Others (Foam) Insulation Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Insulation Industry generated over USD 53.34 billion in 2022 and is expected to grow at a CAGR of 4.7% over the forecast period.

Grand View Research’s insulation sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Access the Global Insulation Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Board Insulation Market Growth & Trends

The global board insulation market size is expected to reach USD 16.88 billion by 2030, expanding at a CAGR of 3.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the increasing utilization of advanced insulating materials from the construction & building and transportation industries. Increasing awareness regarding the environmental impact created by excess use of fuel has led to the development of new advanced materials to reduce heat losses. Boards are one of the materials used for increasing energy efficiency and reducing heat losses. Thus, the increased demand for advanced insulating materials from the building and transportation industry is expected to increase in demand for boards.

Governments and regulatory bodies worldwide have been implementing stricter energy efficiency standards for buildings to reduce greenhouse gas emissions and minimize energy consumption. These regulations often specify requirements for insulation levels and thermal performance in new construction and renovation projects. Board insulation plays a critical role in meeting these requirements by effectively reducing heat transfer through walls, roofs, and floors.

Increasing construction activities, especially in the residential, commercial, and industrial sectors, drive the demand for insulation materials. As urbanization continues and the population grows, there’s a need to construct more houses, offices, commercial spaces, and industrial buildings. Overall, increasing construction activities and the need to adhere to energy efficiency standards create a robust market for board insulation in the building and construction industry.

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Blanket Insulation Market Revenue, by Application, 2020 - 2030 (USD Billion)

Blanket Insulation Market Growth & Trends

The global blanket insulation market size is expected to reach USD 22.19 billion by 2030, expanding at a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the rising utilization of blankets owing to the benefits offered, such as lower cost and high-quality resolution. Moreover, the growing use of blankets in construction applications such as walls, roofs, and attics is expected to boost the demand for insulation in the coming years.

The blanket helps to improve energy efficiency by reducing heat loss from buildings and vehicles. This is a major concern for all governments and businesses as energy cost represents a significant chuck of operating expenses. Thus, there is an increase in demand for insulation from building & construction, and transportation applications across the globe.

There has been increased focus on sustainability as a blanket helps to reduce environmental impact for buildings and vehicles. The need for developing new materials for insulation has increased over the last 5 years, which in turn will increase the blanket demand throughout the forecast period.

The acoustic effectiveness of insulation in large-scale factories aids in the reduction of high-frequency noises produced by machinery on the factory floor. It protects all industrial appliances from fire, avoids moisture condensation on the equipment, and protects the equipment at extreme cold or high temperatures, resulting in lower accidental risks. Energy requirements for cooling and heating equipment can be decreased by regulating the correct thickness of thermal insulation and maintaining appropriate values of infrared emissivity and solar reflectance on building exteriors. Environmental factors such as solar radiation and air temperature will almost certainly impact the energy requirements of the petrochemical and chemical processing sectors, among others. There is a significant demand for insulating systems in order to maintain energy benchmarks and adjust temperature levels.

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Competitive Landscape

Key players operating in the Insulation industry are:

Sekisui Foam Australia
Aspen Aerogels, Inc
Morgan Advanced Materials plc
Pittsburgh Corning Europe N.V
Duna-Corradini S.p.A

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Electric Mobility Industry: Product Usage Analysis, 2023 - 2030

Electric Mobility Industry Data Book - Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Electric Mobility Industry generated over USD 101.67 billion in 2022 and is expected to grow at a CAGR of 19.9% over the forecast period.

Grand View Research’s electric mobility industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research. Surge in the adoption of EVs, especially e-scooters among the youth, light commercial vehicles for rapid transportation with reduced carbon footprints and increasing purchasing capacity across the globe are expected to significantly increase the demand for E- mobility, thereby supporting the market growth.

Access the Global Electric Mobility Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Electric Three-Wheeler Market Growth & Trends

The global Electric Three-Wheeler Market size is registering a CAGR of 7.7% during the forecast period, as per the new report by Grand View Research, Inc. ICE-powered three-wheelers are considered ideal for public transport in high population density economies such as China and India, especially among the low-income and medium-income demographics. However, ICE-powered vehicles are often held responsible for the rising levels of vehicular pollution, which is becoming a significant worry for several governments. Moreover, depleting fossil fuel reserves, coupled with geopolitical challenges, are leading to a major increase in fossil fuel prices, thereby increasing the operational and maintenance costs of ICE-powered vehicles. Under these circumstances, electric three-wheelers are emerging as a viable, eco-friendly, and affordable alternative to ICE-powered three-wheelers.

The increasing awareness about the harmful impact of emissions from ICE vehicles on the environment has compelled manufacturers and governments to formulate strategies to push for the adoption of electric three-wheelers. Government subsidies on vehicles, batteries, or EV components will help reduce the financial burden on the end user. Governments in Asian countries such as Thailand, Vietnam, and India are introducing incentives and laws to drive the uptake of electric three-wheelers. The Thai government has launched the EV incentives package, which provides incentives such as a reduction in import duties and taxes. A new investment package announced by the government includes corporate income tax exemption on three-wheelers and plans to establish charging stations across the country to further encourage the adoption of electric three-wheelers

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Electric Light Commercial Vehicles Market Growth & Trends

The global Electric Light Commercial Vehicles Market size is anticipated to expand at a CAGR of 39.0% from 2023 to 2030. Increasing demand for the lightweight, fuel-efficient, and cost-effective vehicle for the transportation of goods is fueling the growth of light commercial vehicles such as pick-up trucks, vans and minibus in the market. Additionally, the booming e-commerce sector is further creating demand for the logistics transportation service, an electric light commercial vehicle which offers tax incentives, contributes to reducing fuel emission, and are affordable. Thus, LCVs are widely preferred for door-to-door delivery, pick, and drop, and shipping service in the market.

The prominent players in light commercial vehicle market are majorly focusing on product launching activities to maintain their dominance globally. For instance, in May 2022 Volkswagen AG, one of the key players of the automobile industry is has launched “VW ID.Buzz electric minibus”, the vehicle is equipped with the Travel Assist module which has swarm data interphase, equipped with the infotainment system, and have a 77 Kwh battery.

Asia Pacific region is expected to hold the highest share in the electric three-wheeler market. Factors such as EVs as an eco-friendly and affordable option for public transport, increasing popularity of shared mobility, and active government backing for the adoption of EVs are contributing to high regional share. The region has a high penetration of electric three-wheelers, prompting manufacturers to adopt strategies such as partnerships and launching new e-three-wheeler models to gain market share. For instance, Omega Kesiki Mobility entered the passenger electric three-wheeler segment with the launch of Stream, which is priced at INR 3.40 lakhs after government subsidy.

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Competitive Landscape

Key players operating in the Electric Mobility industry are:

Hero Electric (Hero Eco Group)
Jiangsu Xinri E-Vehicle Co. Ltd.
Motovolt
Lime (Neutron Holdings, Inc.,)
Okinawa Autotech Internationall Private Limited

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Flavors and Fragrances Industry: Technological Outlook and Value Chain Analysis

Flavors & Fragrances Industry Data Book - Natural Flavors & Fragrances and Aroma Chemicals Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Flavors & Fragrances Industry generated over USD 23.35 billion in 2021 and is expected to grow at a CAGR of 4.3% over the forecast period.

Grand View Research’s flavors & fragrances industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

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Natural Flavors and Fragrances Market Growth & Trends

The global natural flavors and fragrances market size is expected to reach USD 15.83 billion by 2030, registering a CAGR of 4.6% during the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the increasing awareness about the adverse effects caused by artificial as well as synthetic products used in the cosmetics and food & beverages industry. In addition, the availability of natural products as an alternative is propelling the market growth. Natural flavors & fragrances are now widely accepted by industries like food & beverage, cosmetic & personal care, and pharmaceuticals. The growing population has been increasing the consumption of food & beverages, cosmetic & personal care products, and pharmaceuticals and is likely to further escalate the consumption in the near future. The global industry is anticipated to grow at a steady CAGR over the forecast period due to the presence of major players that are utilizing natural flavors & fragrances in their products.

Companies, such as BASF SE, Blue Pacific Flavours, Inc., BIOLANDES SAS, and Symrise AG, are some major manufacturers. Governments tend to be more flexible in the use of natural products over synthetic counterparts and provide elasticity in their use and consumption for various purposes. The COVID-19 pandemic has resulted in many changes in the industry, such as the collapsed supply chain system and restrictions on transportation. Many large- and small-scale organizations had to shut down their production for several months during the pandemic. This factor slowed down the industry growth and limited production & supply. Furthermore, the outbreak led to the shutdown of hotels, restaurants, retail stores, and eateries, thereby lowering the consumption of natural flavors & fragrances in the food & beverage industry.

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Aroma Chemicals Market Growth & Trends

The global aroma chemicals market size is expected to reach USD 7.72 billion by 2030, as per the new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.3% from 2023 to 2030. The growth is majorly driven by natural aroma chemicals in developed economies of North America and Europe. The aromatherapy industry has grown tremendously owing to the high diversity in consumer preferences for natural aromatic products such as essential oils, fragrances, and others for the treatment of several diseases. Changing lifestyles and its consequences such as depression and stress have resulted in a growing demand for aromatherapy directly fueling the growth in demand for aroma chemicals.

The terpenes & terpenoids segment emerged as the largest chemical segment in 2021 owing to its increasing demand from the rubber as well as paints & coatings industry. Aroma chemicals are getting essential for the formulation of additives for health & personal care, food & beverage products, thus forming a stable market. Further, regarding the evolving consumer demands and overall industry scenario, the manufacturers are inclined towards formulating natural aroma chemicals offering flavors close to synthetic flavoring agents to gain a competitive edge in the industry.

The key industry players are mostly integrated across the value chain from manufacturing to distribution to maintain the quality of raw materials. Owing to this, the key players are gaining a competitive advantage regarding cost benefits with increased profit margins. New market entrants are looking for opportunities to enter the global aroma chemicals market; wherein new entrants attempting to establish themselves have to contend with top multinationals, such as Takasago International Corporation, Symrise, Robertet, MANE, Firmenich SA, and Givaudan.

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Competitive Landscape

Key players operating in the Flavors & Fragrances industry are:

Synthite Industries Limited
Ungerer & Company
Akay Flavours & Aromatics Pvt. Ltd.
Indo World
BASF SE
Vigon International, Inc.

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Data Preparation Industry: Vertical Movement Analysis, 2023 - 2030

Data Preparation Industry Data Book - Data Collection and Labelling, Data Labelling Solutions and Services & Data Integration Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Data Preparation Industry was estimated at USD 20.89 billion in 2021 and is anticipated to increase at a significant CAGR of 17.0% from 2022 to 2030.

Grand View Research’s data preparation industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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Data Collection and Labeling Market Growth & Trends

The global data collection and labeling market size is expected to reach USD 17.10 billion by 2030, expanding at 25.1% CAGR from 2022 to 2030, according to a new report by Grand View Research, Inc. Data collection and labeling refers to the collection of datasets from various sources and labeling them based on their nature. This includes categorizing them by data type, and features. Data gathering and its annotation, combined with AI technology, have created valuable growth opportunities in several verticals, such as gaming, social networking, and e-commerce.

For instance, Twitter and Facebook, two major platforms of social networking, have benefited from image-processing technology in audience engagement. Companies use data labeling platforms to identify raw data for the machine learning model. Text, movies, audio, and other items are raw data. For instance, in May 2022, Heartex, Inc., an annotation tool and data labeling platform provider announced a USD 25 million Series A fundraising round. The funds will go toward its AI-driven open-source data labeling platform. The platform aims to assist in labeling workflows for various AI use cases, and it includes capabilities for reporting, data quality control, and analytics.

The advent of digital capturing devices, particularly cameras built into smartphones, has led to an exponential growth in the volume of digital content in the form of images and videos. Much visual and digital information is being captured and shared through several applications, websites, social networks, and other digital channels. Several businesses have leveraged this online content to deliver more innovative and better customer services using data annotation. For instance, Scale AI, Inc., a U.S.-based tech start-up provides valuable data labeling services to its autonomous driving customers, including Waymo LLC; Lyft, Inc.; Zoox; and Toyota Research Institute.

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Data Integration Market Growth & Trends

The global data integration market size is expected to reach USD 30.27 billion by 2030, according to a new report by Grand View Research, Inc. The industry is anticipated to grow at a lucrative CAGR of 11.9% from 2022 to 2030. Data integration solutions and tools are a collection of organizational and technical, and procedures created to combine data from many sources into understandable and valuable data sets. Data integration solutions are provided through tools like ETL (extract, transform, and load), data replication, and data virtualization. These tools enable the extraction of vast volumes of data from source systems and the loading of those data into a cloud source or an enterprise data warehouse.The end location must be adaptable enough to handle various data types at high volumes.

For instance, in February 2022, NAVEX Global, Inc., a compliance management software provider, launched the NAVEX Integration Cloud platform. The new data integration platform would automate risk management workflows and integrate a wide variety of business data in a single comprehensive view in the cloud.With a thorough understanding of automated risk management and streamlined procedures, NAVEX Integration Cloud fulfills the company's goal to offer the world's smartest integrated platform. As a result, enterprises are better able to foresee and mitigate risk. As we produce more data, data integration has become more crucial. Data integration aims to ensure that data is stored and preserved as planned. Moreover, the data set obtained from a data search is desired and anticipated.

Data integrity can be aided by maintaining a centralized view of all the data in a single location, such as a data warehouse. In fact, over time, data integration aids in enhancing the accuracy and reliability of data. The quality and integrity of the data can be improved when it is transferred to the central location by data transformation operations, which can also detect data quality problems. Further, data integration enables manufacturers to fully utilize the value of the data generated from their facilities by smoothly integrating information technology with operational technology. For instance, in May 2022, Google Cloud launched manufacturing connect and manufacturing data engine integration platforms for manufacturers. The integration platforms would enable manufacturers to process and standardize data in a single locationand provide their staff with simplified analytics and artificial intelligence (AI) solutions based on cloud infrastructure.

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Competitive Landscape

Key players operating in the Data Preparation industry are:

Deep Systems, LLC
Denodo Technologies
Dobility, Inc.
Explosion AI GmbH
Global Technology Solutions

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Electric Vehicle Charging Station Industry: Vendor Landscape

Electric Vehicle Charging Station Industry Data Book - Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Electric Vehicle Charging Station Industry was estimated at USD 24.26 billion in 2022 and is anticipated to increase at a significant CAGR of 25.5% from 2023 to 2030.

Grand View Research’s electric vehicle charging station sector database is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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Electric Vehicle Charging Infrastructure Market Growth & Trends

The global electric vehicle charging infrastructure market size is expected to reach USD 121.09 billion by 2030, expanding at a CAGR of 25.5% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The growth of the EVCI market can be attributed to the growing number of consumers adopting electric vehicles, which is driven by the need to make environmentally conscious decisions, increasing fuel costs, favorable government subsidies, and lower cost of ownership over the vehicle’s lifecycle.

The growing demand for electric vehicles is further driving the demand for sufficient charging infrastructure, thereby driving the market’s growth. Various electric vehicle manufacturers such as Volvo, Kia Motors, Mercedes-Benz, and Ford, among others, are collaborating with the charging infrastructure providers for easy availability of charging stations. For instance, In November 2020, ChargePoint, Inc. announced its partnership with Volvo Car USA LLC to provide a seamless charging experience to Volvo car drivers.

ChargePoint, Inc. will offer Home Flex home chargers to Volvo Car drivers owing to this partnership which will enable drivers to charge their cars at home. Moreover, Delta Electronics, Inc.; Enel X; and Ecotap BV; among others; are focusing on the development of solar-powered electric vehicle charging stations. For instance, under the Honda SmartCharge program, Enel X is currently working on the development of a solar-powered charging station in Hawaii (U.S.) in partnership with the Hawaiian Electric Company, Inc.

Furthermore, various companies are working towards upgrading Electric Vehicle Supply Equipment (EVSE) to make them more convenient for long-distance travel. Some of the electric vehicles manufacturers such as Tesla, Inc., and Nissan, are focusing on providing compatibility for their electric vehicles for public charging networks. For instance, Nissan in November 2019, announced that buyers of the new Nissan LEAF and Nissan LEAF would be able to charge their vehicles across EVgo’s charging network which comprises 750 public charging stations.

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Micro Mobility Charging Infrastructure Market Growth & Trends

The global micro mobility charging infrastructure market size was estimated at USD 4.58 billion in 2022 and is expected to grow at a CAGR of 25.8% from 2023 to 2030. One of the main factors influencing the market growth is the rising use of micro mobility vehicles like e-scooters and e-bikes to reduce carbon emissions. There are several uses for micro mobility cars in the commercial and transportation sectors. Manufacturers of micro mobility vehicles are undertaking several endeavors to set up charging networks all around the world. For instance, TIER, a German e-scooter firm, raised USD 250 million from SoftBank in November 2020 to build micro mobility vehicle charging networks throughout Berlin. Such measures are encouraging for the market for micro mobility charging infrastructure during the upcoming years.

The micro-mobility charging infrastructure market is segmented based on vehicle type, charger type, power source, and end-use. Based on vehicle type, the market is further divided into e-scooters, e-bikes, e-unicycles, and e-skateboards. The e-scooters segment dominated the market in 2022 and is expected to register a significant growth rate over the forecast period. Customers prefer e-scooters for shorter travel distances because they require less parking space and have quick recharge times. Most e-scooter charging stations include a designated parking place, which lessens traffic congestion and air pollution caused by vehicles. Additionally, these charging stations are adaptable to any e-scooter design and can be efficiently created based on the area available. These factors are expected to help to boost the segment’s growth. The graph below depicts the fuel taxation rates in percentage across countries as per the Petroleum Planning & Analysis Cell. The increasing crude oil consumption and imports by various countries have led to an increase in fuel taxation rates leading consumers to opt for e-scooters to avoid higher fuel consumption costs, propelling the segment’s growth.

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Competitive Landscape

Key players operating in the Electric Vehicle Charging Station industry are:

ChargePoint, Inc.
Tesla, Inc.
BP Chargemaster
Flower Turbines
Ather Energy

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Pharmaceutical Packaging Industry: The Contract Packing Segment Accounted for Major revenue Share in 2022

Pharmaceutical Packaging Industry Data Book - Plastic Pharmaceutical Packaging, Parenteral Containers, Primary Pharmaceutical Packaging and Pharmaceutical Contract Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Pharmaceutical Packaging Industry was estimated at USD 117,007.3 million in 2021 and is anticipated to increase at a significant CAGR from 2022 to 2030.

Grand View Research’s pharmaceutical packaging industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

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Plastic Pharmaceutical Packaging Market Growth & Trends

The global Plastic Pharmaceutical Packaging Market is registering a CAGR of 9.1% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. Plastic is light in weight, easy to mold, and considerably cheaper than metal and glass. Therefore, end-use companies majorly prefer plastic-based packaging products. Increasing demand for convenience, lightweight, and travel-friendly packaged pharmaceutical products from this industry is expected to augment the growth of the plastic & polymers material segment in the coming years.

Polypropylene (PP) accounted for the largest share in the plastic & polymers material segment in 2022. Polypropylene is considered an economical material as it offers a combination of mechanical, physical, electrical, and thermal characteristics that are not found in any other thermoplastic. When compared to high or low-density polyethylene, polypropylene exhibits a higher working temperature and tensile strength.

Polypropylene offers a reasonable chemical resistance in corrosive environments. In addition, it provides resistance against degreasing agents, organic solvents, and electrolytic attack. It is light in weight, has a low moisture absorption rate, and is resistant to staining. Thus, on account of the aforementioned properties, the adoption rate of PP-based packaging is considerably higher.

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Primary Pharmaceutical Packaging Market Growth & Trends

The global Primary Pharmaceutical Packaging Marketis registering a CAGR of 9.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The Primary packaging first envelopes the drug and protects it from contamination. Along with protection, primary packaging used in this industry is often involved in dispensing and dosing drug contents. Labels containing information regarding drug use, caution, and others are often printed or attached to primary packaging products such as bottles, pouches, tubes, vials, blister packs, and others.

Primary pharmaceutical packaging is expected to emerge as the largest segment over the forecast period. This can be contributed to factors such as minimal product-package interaction, protection of quality, and enhanced performance at point-of-use. In addition, ease-of-use for the patient is a major driving factor for the primary packaging segment on account of the increasing trend of self-medication. Further, the complex needs of the rapidly growing biologics market are spurring developments in parenteral packaging.

Key companies operating in the primary this market includes Amcor plc, Becton, Dickinson and Company, AptarGroup, Inc., Drug Plastics Group, Gerresheimer AG, Schott AG, Owens Illinois Inc., SGD Pharma, West Pharmaceutical Services, Inc., Berry Global Inc., WestRock Company, Comar, LLC, and Vetter Pharma International.

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Competitive Landscape

Key players operating in the Pharmaceutical Packaging industry are:

Schott AG
Owens Illinois Inc.
SGD Pharma
West Pharmaceutical Services, Inc.
Berry Global Inc.
WestRock Company

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Plastic Packaging Industry: Value Addition and Profit Margin Analysis, 2023 - 2030

Plastic Packaging Industry Data Book - Food & Beverage, Personal & Household, Industrial and Pharmaceutical/ Healthcare Plastic Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

The global Plastic Packaging Industry was estimated at USD 347.35 billion in 2022 and is anticipated to increase at a significant CAGR from 2023 to 2030.

Grand View Research’s plastic packaging sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

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Industrial Plastic Packaging Market Growth & Trends

The global Industrial Plastic Packaging Market is registering a CAGR of 3.0% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The industrial packaging segment includes automotive, construction, energy, transportation, and chemical packaging applications. Various automotive parts such as sealing parts, dashboard assemblies, interior panels, interior door panels, bumpers, and air ducts use plastic packaging.

Plastic is a primary material for shippers, pallets, drums, crates, containers, and IBCs which are primarily used for the transportation of industrial, chemical, and petrochemical products. The growing e-commerce industry is expected to create demand for such pallets, shippers, and crates owing to additional warehousing requirements.

The petrochemical market is projected to grow due to the critical demand from end markets that consume petrochemicals. Petrochemicals are widely consumed in chemical, automotive, and other industrial sectors to produce lubricants, motor oil, adhesives, coatings, and paints. The demand for these products is driven by the growth of the automotive, construction, and manufacturing sectors. The growing population and urbanization across the globe are propelling these sectors’ growth which can increase the consumption of petrochemical-based products, thus fueling the demand for rigid bulk packaging.

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Pharmaceutical/ Healthcare Plastic Packaging Market Growth & Trends

The global Pharmaceutical/ Healthcare Plastic Packaging Market is registering a CAGR of 4.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Packaging plays a crucial role in the safe storage of pharmaceutical products. The most common materials used for drug packaging include plastic and glass. The material selected for developing packaging for a specific drug depends on factors such as the degree of protection needed for the product, cost, method, compatibility with the sterilization process, and the degree to which the packaging material reacts with the packaged drug. Although some plastics are seen to react with pharmaceutical drugs, plastics such as PET and HDPE are used for producing pharmaceutical packaging since they do not leach harmful chemicals into pharmaceutical products.

In addition, pharmaceutical/healthcare plastics are specifically modified with additives to cater to the required functions such as impact resistance, durability, UV resistance, and moisture resistance. The cost of these plastics also falls low compared to borosilicate glass-based packaging which makes pharmaceutical packaging manufacturers consider plastics for packaging pharmaceutical drugs.

Plastic provides a high degree of flexibility and convenience in the bulk transportation of medicines and APIs using products like IBCs, containers, and drums. Higher packaging efficiency, easy handling, minimum contamination possibilities, and drug safety can be attributed to the higher popularity of plastics in pharmaceutical applications.

The growing packaging waste concerns have also gripped the pharmaceutical sector. Pharmaceutical drug manufacturers are exploring and have started developing sustainable pharmaceutical packaging. An example of this is blister packaging based made of mono-material. The combination of materials like PVC and aluminum used in conventional blister packaging makes it difficult to be recycled and often ends up in incineration centers. Hence the demand for pharmaceutical blister packaging made of polypropylene is increasing thereby also promoting a circular economy.

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Competitive Landscape

Key players operating in the Plastic Packaging industry are:

Berry Global, Inc.
Constantia Flexibles
Mondi
DS Smith Plc
Huhtamaki
Pro-Pac Packaging Limited
Pactiv LLC
WestRock Company

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