US Enterprise Resource Planning Market Expected to reach $25 billion by 2028

The pandemic scenario has significantly impacted the expansion of ERP market & further growth has been expected in the healthcare sector & businesses offering healthcare-related goods & services.

In the current landscape of modern businesses, the transformative influence of Enterprise Resource Planning (ERP) solutions has come to the forefront. These success stories highlight how organizations in the United States are leveraging ERP systems to achieve operational excellence, drive growth, and navigate the complexities of a globalized economy. From harnessing AI and IoT integration to ensuring data security compliance, these underscore the pivotal role of ERP in shaping the trajectory of businesses across diverse industries.

Story Outline

• Ramco ERP’s successful implementation at Openwork's, a prominent US facility management provider, showcases the power of digital transformation in enhancing operational efficiency.
• Cloud-based ERP solutions, exemplified by Accolent ERP, are gaining traction amongst US small businesses for their flexibility & scalability.
• Integration of AI and IoT technologies into ERP systems, as demonstrated by SYSPRO, is reshaping business success. Real-time data collection from connected devices and AI-driven insights empowers decision-making while making sure there are opportunities for growth & competitiveness in the evolving market landscape.
• According to Ken Research, the US Enterprise Resource Planning market is set to reach $25 billion in 2028, due to rapid advancements in technology & an increasing need to improve operational efficiency so that the companies can easily navigate the complexities of a globalized economy.

1. Ramco ERP fuels Openwork's’ US Enterprise Resource Planning Triumph

Organizations have been increasingly embracing digital transformations to streamline their business process & improve operational efficiency.

Ramco Systems had provided a successful implementation of Ramco ERP Software at OpenWorks, a leading American management facility provider with a 360-degree view of its operations through its single integrated solution which helped in automating the company’s customer billing and payments to franchisees, asset tracking and optimizing franchise assignment processes.

2. Accolent ERP Empowers US Small Businesses with Cloud-Based Brilliance

To learn more about this report download a Free Sample Report

Cloud-based enterprise resource planning solutions are gaining popularity in the United States due to their flexibility, scalability & effectiveness. For instance, Accolent ERP provides cloud-based ERP software solutions for small businesses in USA, delivering an end-to end solutions for wholesale distribution.

Cloud based systems allow businesses to avoid heavy upfront investment in hardware & infrastructure while also offering the advantage of remote accessibility.

According to Ken Research, the US Enterprise Resource Planning market is set to reach $25 billion in 2028, due to rapid advancements in technology & an increasing need to improve operational efficiency so that the companies can easily navigate the complexities of a globalized economy.

3. Revolutionizing ERP with AI & IoT Integration for Business Success

                                       Visit this Link: – Request for custom report

Nowadays, enterprise resource planning (ERP) systems’ integration with technologies like AI & IoT is gaining massive traction. SYSPRO, an ERP software solution in the United States has integrated Artificial Intelligence which offers many emerging & disruptive services for technology which includes Connected Services, Azure IoT Hub, Azure ML/AI & Azure Bot.

These technologies allow businesses to gather real time data from connected devices & leverage AI-driven insights for informed decision making.

4. Empowering Compliance: Secure ERP Solutions for Data Privacy & Cybersecurity

 ERP Solutions were being used to ensure compliance with industry regulations & data security standards. As data privacy concerns grew, organizations sought ERP solutions which will help manage their data securely.

National Institute of Standards & Technology (NSIT) by the US Department of Commerce had created a Cybersecurity Framework Implementation Guidance for Federal Agencies should be followed within any ERP-driven public sector to ensure end-to-end security compliance.

5. Mastering Global Growth: Empowering Businesses with ERP Solutions

Request free 30 minute's analyst call

As markets become globalized day-by-day, there is a need for ERP systems that can handle multi-location operations, currencies, languages & tax regulations become crucial. Abas-USA encourages & consults with mid-market firms to set achievable project goals which will centralize process, standardize data, ensure compliance with international reporting standards & outline a strategy to encourage growth & success in a global market. ERP systems with international capabilities were in demand to support these growing global operations.

Conclusion

In the ever-evolving landscape of business technology, it highlights the role of ERP solutions in driving success. From enhancing operational efficiency through streamlined processes and secure data management to leveraging AI, IoT, and cloud-based innovations for growth, organizations are using the power of ERP to adapt, thrive, and stay competitive in a globalized world. These stories testify the transformative potential of ERP systems in shaping the future of business operations and strategies.

US Air Compressor Market Path to $31 Billion Growth Drivers, Market Domination, and Future Projections

 The US air compressors market is all set to achieve record market value in the forecasted period of 2023-2027. The US air compressors market is the largest market in North America and the third largest globally only behind China and Germany. The market is driven by factors such as high growth in the household appliance market, development of the automotive industry, and technological advancements in air compressors.

Story Outline

• The home appliances segment of air compressors dominates the market by capturing a market share of 60%.
• Around 70% of manufacturers of small-scale industries use compressed air systems in their operations.
• In 2020, Sulzer Ltd purchased a 25% share of Tamturbo Plc, an oil-free air compressor manufacturer and developer company by making a crucial investment in the company.

According to Ken Research, The US air compressor market is growing immensely owing to different factors influencing the market. The US air compressor market is the third largest market for air compressors in the world with an export value of 1.96 Bn in 2022, only behind China and Germany. The home appliances segment of the market is dominating the market. The home appliances market is anticipated to grow around 30 Mn units by 2027. The growth of the air compressor market is interlinked with developments in industries such as automobiles, manufacturing, pharmaceuticals, and electronics.

1. Influence of Covid-19 on US AIR Compressor Market

To learn more about this report download a Free Sample Report

• The US air compressor market suffered substantial revenue losses owing to plummeting demand from several industries during COVID-19. The demand for air compressors in the United States declined by 25 % in the year 2020 compared to 2019.
• The value chain of air compressors was affected significantly during the restrictions of the pandemic. Additionally, Elgi Equipment, one of the leading players in the market, closed 100% of its facilities due to the restrictions of the pandemic in 2020.
• During the global pandemic due to the temporary closure of the market, companies invested hugely in the research and development field to strengthen the area of innovation and technological advancements. Sullair, a leading air compressor manufacturer in the country launched Perkins, a portable diesel air compressor. Perkins compressors are capable of high ability and durability.

2. Current Scenario of the US Air Compressor Market

 

Visit this Link: – Request for custom report

• The US market of air compressors is dominating the global air compressor market and is anticipated to grow at a CAGR of 5.9% in the forecasted period of 2022-2027.
• The US air compressor market offers various application types. The home appliances segment of air compressors is dominating the market by capturing a market share of 60%. Followed by transportation, manufacturing, and commercial.
• The demand for oil-free and lightweight products is increasing in the industry as these air compressors are more effective industry operations. The market for oil-free air compressors in America is estimated to reach $1Bn by 2026.

3. Growth drivers of the US Air Compressor Market

 

Request free 30 minute’s analyst call

The market is impacted by different factors affecting the market. Some of the major growth drivers of the market are high growth in the household appliance market, development of the automotive industry, technological advancements in air compressors, the mature manufacturing industry, and high demand from small-scale industries.

• The enhanced demand for air compressors from small-scale industries is contributing immensely to the expansion of the market. Several industries such as chemicals & petrochemicals, oil & gas, construction, commercial, automobile, and pharmaceuticals require air compressors for a wide range of applications. Around 70% of manufacturers of all industries use compressed air systems in their operations.
• The technological advancements in the industry are lifting the US air compressor market. Recently, the market made a significant development in the IIoT (Industrial Internet of Things). This innovation has enabled to monitoring of air compressor systems remotely. Air compressors connected to the Internet of Things (IoT) give more than 150 data measures every second, giving the current state of its internal components like the motor, belt, oil barrel, etc.

4. Major Players of the US Bio-stimulants Market

• Some of the significant players in the market are Atlas Copco, Sullair LLC, Gardner Denver Inc., Kaser Kompressoren, Ingersoll-Rand Plc, Rolair System, Elgi Compressor USA Inc., Hitachi Industrial Equipment Systems Co. Ltd., Ciasons Industrial Inc., Aerzener Maschinenfabrik Gmbh, Quincy Compressor, Bauer Compressors Inc, and Others.
• In June 2023, Chat Industries started a strategic partnership with Avina Clean Hydrogen Inc. to supply chart industries’ Howden compressors for Alvina’a green hydrogen plant in southern California.
• Recently, Altas Copco introduced its ZR/ZT series of oil-free, 100% certified, and rotary screw compressor-equipped air compressors. Alongside, the company has also acquired a UK-based airflow compressor & Pneumatics for an undisclosed amount. In the year 2021.
• In 2020, Sulzer Ltd purchased a 25% share of Tamturbo Plc, an oil-free air compressor manufacturer and developer company by making a crucial investment in the company.

Conclusion

The US air compressor industry is balanced for exceptional development, anticipated to reach a market value of $31 billion during 2023-2027. Despite the effect of the pandemic, the market has bounced back due to its pivotal role across differing businesses. The home appliances section, anticipated to develop around 30 million units by 2027, maybe a prevailing force, whereas divisions such as automobiles, manufacturing, pharmaceuticals, and electronics altogether impact its direction. The market's recovery is credited to components like innovative progressions, advancements in oil-free and lightweight products, and the advancement of the automotive industry. With a solid foothold in North America and a CAGR of 5.9%, the US market remains energetic, driven by increased demand from small-scale businesses and the transformative potential of IIoT. Major players like Atlas Copco and Sullair LLC continue to contribute to the market's development through key associations and innovations.

US Esoteric Testing Market expected to reach $11.5 Bn by 2028

 Buy Now

As the elderly population in United States increases, along with an increasing need for early diagnosis & treatment, the esoteric testing is poised to record remarkable growth in the upcoming years

With an ever-evolving realm of healthcare, esoteric testing stands as a pioneering force revolutionizing personalized medicine in the United States. These specialized tests unravel genetic insights, driving personalized treatment strategies. The convergence of cutting-edge technology & advanced detection methods redefines disease management, especially crucial in the context of an aging population & the imperative of early detection.

Story Outline

• According to Ken Research, the US Esoteric testing market is expected to reach $11.5 billion in 2028, owing to increasing aging population & rapid advancements in technology which is leading to increasing demand for esoteric testing solutions
• With a rising elderly population vulnerable to complex health conditions, the demand for specialized testing is increasing. Esoteric tests offer early diagnosis opportunities, which gained even more significance in light of COVID-19 pandemic’s impact on healthcare dynamics.
• Advanced technology, like Advanced Molecular Detection (AMD) is revolutionizing disease detection by combining genome sequencing & bioinformatics. It attracts healthcare providers & researchers to embrace esoteric tests for enhanced diagnostics
• Esoteric tests are transforming personalized medicine by revealing genetic insights into susceptibility, treatment response & tailored care plans.

1. Esoteric Tests Revolutionizing Personalized Medicine in United States

Download Sample of US Esoteric Testing Industry

Esoteric tests play a crucial role in personalized medicine by providing detailed insights into an individual’s genetic makeup, susceptibility to diseases & treatment response.

In June 2022, few scientists at PACT Pharma, San Francisco, USA devised a personalized medicine plan where they used CRISPR-Ca9 non-viral precise genome editing to simultaneously knockout two endogenous T- cell receptor genes TRAC & TRBC, which will help in specifically recognizing mutations in cancer cells.

As personalized medicine continues to gain traction, the demand for esoteric tests that enabled treatment plans could drive market growth.

2. Advanced Technology & Esoteric Testing Lead the Way in Disease Detection

United States has been seeing advancements in the kind of technology being used, such as Advanced Molecular Detection (AMD) which integrates the latest next-generation genome sequencing technologies with bioinformatics & epidemiology experience across Center for Disease Control & Prevention (CDC) to find, track & stop disease causing pathogens like never before. Innovations like these could attract healthcare providers & researchers to utilize esoteric tests more frequently.

• According to Ken Research, the US Esoteric testing market is expected to reach $11.3 billion in 2028, owing to increasing aging population & rapid advancements in technology which is leading to increasing demand for esoteric testing solutions

3. Elevating Care for Seniors: Surge in Esoteric Testing with Growing Elder Population

Download Custom Report of Leading Players of Esoteric Testing Market

In 2021, the United States population, more than 55.8 million aged people i.e., above 65 years old, reside in the United States. This population accounts for about 16.8% of the country’s population. As the older population increases, they become prone to chronic & complex health conditions that might require specialized testing for accurate diagnosis & monitoring. Therefore, as the elderly population increases, there is an increase in esoteric testing as well.

4. Pioneering Early Detection: Esoteric Tests Reshape Healthcare Amidst Pandemic Impact

There is an increasing focus on early detection & diagnosis in healthcare, these days since it improves patient outcomes & reduce healthcare costs. The COVID-19 pandemic has put an impact on the growth in esoteric testing market. In February 2021, Agilent Technologies Inc. launched the Agilent Dako SARS-CoV2 IgG CoV2 Enzyme-Linked Immunosorbent Assay (ELISA) to detect immunoglobin G (IgG) antibodies qualitatively to SARS-CoV2 in human serum or plasma.

Esoteric tests that enable early diagnosis of conditions like cancer, neurological disorders & cardiovascular diseases could see heightened demand.

5. Building Blocks of Success: Healthcare Upgrades Fueling Esoteric Testing Market Growth

Improvements in healthcare infrastructure, particularly in terms of laboratory facilities & testing capabilities, could contribute to the growth of the esoteric testing market. The revenue of laboratory testing services in United States has been growing at an annualized 3.1% over the past 5 years from 2018-23. Growth in research & development, spending from public & private sectors will benefit demand & growth in high tech companies will attract substantial R&D investments to develop & improve new products.

Conclusion

In a landscape shaped by innovation and demographic shifts, esoteric testing emerges as a pivotal force in revolutionizing healthcare. Personalized medicine gains impetus with insights into genetics, while advanced technologies & early detection reshape disease management.

 The elderly population’s rise fuels demand, emphasized by a pandemic related healthcare realm. Upgraded infrastructure and research synergies propel the esoteric testing market forward, paving the way for a future where precise diagnostics pave the road for improved patient outcomes & sustainable patient growth.

USA Solid Tumor Therapeutics Market expected to reach $150 billion by 2028

 Buy Now

Increasing demand & personalized treatment for solid tumor-based illnesses like cancer, will likely increase the growth of the market

In the dynamic landscape of cancer treatment, breakthroughs in genetics, immunotherapy, diagnostics & regulations are reshaping the path to healing. Precision therapies driven by genetic insights & enhancing treatment efficacy, while immunotherapy & CAR-T cell advancements hold promise for novel therapies. Regulatory pathways, streamlined by the FDA are enriching treatment options.

Story Outline

• Growing understanding of tumor genetics & molecular pathways is driving the development of targeted treatments for specific genetic mutations
• Immune checkpoint inhibitors & CAR-T cell therapies are revolutionizing cancer treatment.
• Advancement in AI-powered diagnostics like the Sybil tool, are enabling the early detection of lung cancer, enhancing the likelihood of successful treatment options.
• According to Ken Research, the USA Solid Tumor Therapeutics Market is expected to reach $150 billion by 2028, due to rapid technological advancements in the market, along with rising cases which cater to the demand of solid tumor therapeutics to help the target population.

1.Empowering Treatment: Genetic Insights Fuel Growth in Precision Therapies

Progress & limitations in cancer gene therapy

Click to learn more about tumor genetics

Increasing understanding of tumor genetics & molecular pathways has led to development of targeted therapies for specific genetic mutations. In the United States, City of Hope’s Center for Precision Medicine is undertaking a major initiative to broaden patient’s access to comprehensive genetic testing.

Under the INSPIRE (Implementing Next Generation Sequencing for Precision Intervention & Risk Evaluation) study, City of Hope makes comprehensive testing available for genetic care- regardless of the diagnosis. This approach enhances treatment effectiveness & reduces adverse effects, driving market growth.

2.Unleashing Immunity: Breakthroughs in Immunotherapy & CAR-T Cell Therapy

Anatomy of CAR-T cells

Click here to Download a sample report

Immunotherapy involves immune checkpoint inhibitors like PD-1 and PD-L1, which act as a checkpoint for T-cells to stop attacking other cells in the body.  When both these cells bind together, they ask the T cells to leave the other cells alone. These inhibitors release a break into your immune system, so that T cells recognize & attack tumors.

CAR T cell therapy utilizes these T cells that are genetically altered in a lab to enable them to destroy cancer cells more effectively. Ongoing research & development in this area could lead to novel therapies & expanded indications.

According to Ken Research, the USA Solid Tumor Therapeutics Market is expected to reach $150 billion by 2028, due to rapid technological advancements in the market, along with rising cases which cater to the demand of solid tumor therapeutics to help the target population.

3.AI Powered Early Detection: Unveiling Hidden Clues in the Fight Against Lung Cancer

Click here to Request for a Custom Report

Improved screening techniques & diagnostic tools can lead to early detection of tumor. In this era of Artificial Intelligence (AI), researchers in Boston are promising to develop an AI tool which can help in detecting signs of lung cancer, which the doctors cannot see. The tool Sybil, looks for signs of where cancer is likely to turn up so doctors can spot it as early as possible.

It was shown to predict whether an individual is likely to develop lung cancer in the next year 86 to 94 percent of the time. Early detection often translates to better treatment outcomes & increased demand for therapeutic interventions.

4.Aging Population, Growing Challenges: Meeting the Demand for Effective Cancer Therapies

As the elderly population increases, there is an increased chances of cancer diagnosis. In 2022, breast, lung & bronchus, prostate & colorectal cancers accounted for the newest cancer cases in the United States. Cancer cases were estimated to reach 1.9 million with 609,360 cancer deaths. As the number of cancer cases grows, so does the demand for effective therapeutic options.

 5.Fast-Tracking Innovation: Regulatory Pathways Enrich Treatment Choices

Steps for approval process of drugs & treatments by US Food & Drug Administration (FDA)

Click to learn about drug regulations in USA

Favorable regulatory environments & expedited pathways for drug approval can accelerate the introduction of new therapies into the market. The US Food & Drug Administration (FDA), a government regulatory agency under the U.S. Department of Health & Human Services controls the drug approval process & is tasked with reviewing new drugs & devices, before companies start selling them. The process involves discovery/concept, preclinical research, clinical research, FDA review & FDA post-market safety monitoring. Regulations like these provide more options for treatment for healthcare providers & patients.

Conclusion

In a landscape driven by genetic insights, immunotherapy break throughs, & regulatory innovations, the future of cancer treatment shines with promise.

The convergence of precision therapies, AI-assisted diagnostics, and accelerated approvals is reshaping the horizon of healthcare. As the elderly population & cancer cases increases, these advancements are a beacon of hope, enhancing treatment effectiveness & enriching choices for both, providers & patients.

 The path forward is paved with innovation where science & compassion unite against the challenge of cancer.

USA Patient Registry Software Market is poised to reach $3 BN by 2028

 Technological advancement & a growing need for evidence-based medicine are increasingly creating a need for advanced patient registry software in US.

From harnessing the potential of electronic health records (EHRs) & wearable devices for real-time patient monitoring to delving into the depths of patient registries to unravel the mystery of rare diseases, the following exploration navigates the intricate tapestry of healthcare innovation & its profound impact on individual wellbeing & medical progress

Story Outline

• Leveraging electronic health records (EHRs) and wearable devices, real-time integration with patient data enhances remote monitoring & well-being with around 33 per cent of US adults utilizing wearables for health tracking.
• Patient registries play a pivotal role in medical research, as platforms like Clinical PURSUIT expedite data collection, IQVIA offers varied registry approaches. As evidence based & personalized medicines gain prominence, the demand for comprehensive data increases
• Government initiatives & platforms like the Registry of Patient Registries (ROPR) propel healthcare quality improvement, monitoring & intervention effectiveness.
• According to Ken Research, the USA Patient Registry Software market is expected to reach $3 billion till 2028 owing to technological advancements & government initiatives which are expected to propel the market forward

1. Unleashing the Potential of EHRs, Wearable, Remote Monitoring for Better Wellness

Click to learn about EHR records in patient registry

Technological advancements such as electronic health records (EHRs) & wearable devices which help in collection, integration & analysis of patient data. Real-time integration between Electronic Health Records (EHR) /Electronic Medical Records (EMR) & wearable devices can help monitor patients remotely & improve wellbeing.

Around 33% of adults in the United States use wearable devices to track health indicators like Blood Pressure, Sugar and sleep patterns. If this data is available to medical practitioners, experts & therapists, real-time healthcare assistance can be provided to support treatment.

2. Unveiling Insights: Patient Registries as Catalysts for Medical Research

Click to read about personalized medicine

Patient registries play a crucial role in medical research & clinical studies. There are different platforms which offers patient registry services. Clinical PURSUIT is one such web based & customized platform which helps in monitoring the workflow, it helps in expertly collecting information about patients faster. IQVIA is another which provides an option amongst different patient registry approaches & data research methodologies to address the research questions.

As the efficacy of evidence based & personalized medicine grows, the demand for comprehensive based data could increase.

According to Ken Research, the USA Patient Registry Software market is expected to reach $3 billion till 2028 owing to technological advancements & government initiatives which are expected to propel the market forward.

3. Navigating the Uncharted: Patient Registries Pioneering Rare Disease Insights

Click to read about rare disease management

For rare diseases & conditions, patient registries are important for gathering data to understand the disease, track its progression & evaluate treatment outcomes. Orphanet provides systematic collection of clinical data specifically focused on a rare disease or a particular group of diseases.  As more focus is put on orphan drug development, the need for specialized patient registries could rise.

4. Driving Healthcare Quality: The Power of Patient Registries & Government Support

Click to read about government initiatives in patient registry

Government initiatives might continue to promote the establishment of patient registries as part of efforts to improve healthcare quality, monitor disease trends & track the effectiveness of interventions.

US Department of Health & Home Services maintains a Registry of Patient Registries (ROPR), which is a database system designed to provide a searchable database of existing patient registries in the United States & facilitating the use of common data fields to improve opportunities for sharing, comparing & linkage.

Regulatory requirements could drive healthcare providers & organizations to implement & maintain patient registries.

5. Unlocking Insights: Patient Registries Fueling Healthcare & Innovation

Click to learn about innovation in patient registry

Patient registries can provide valuable data for healthcare analytics & population health management. The ASH Research Collaborative Data Oversight Group created a Coordinated Research Networks, which they termed a Data Hub which can ingest all forms of information including electronic medical record data, patient-reported outcomes, genomic or molecular correlates & aggregated population data. It utilizes the state-of-the-art technology so that data collection is automated wherever possible.

Patient registries can contribute to the collection of real-world evidence, aiding in treatment decision making & drug development.

Conclusion

In an era where technology & data converge to provide better healthcare, these advancements are shaping the current medical landscape. From harnessing the potential of EHRs and wearables for enhanced wellness to illuminating rare diseases through specialized patient registries & from government supported quality enhancements to the innovative role of patient data in shaping healthcare & innovation, these facts collectively pave the way for evidence-based treatments & healthier future.

US Tire Pressure Management projected to reach $6 billion by 2028: Ken Research

 Personal & commercial vehicles in United States are expected to be more fuel-efficient in the upcoming years & the tire pressure management system (TPMS) will play a key role in the market’s growth.

In the landscape of automotive progress in United States, advancements have reshaped safety and efficiency like Tire Pressure Management Systems (TPMS). From advanced technologies that enhance accuracy and reliability to the relationship between TPMS and fuel efficiency, even taking the incentives for adopting the same, the evolution of TPMS stands as a testament to innovation's power in ensuring safer and more efficient journeys on the road.

Story Outline

• Mandating the use of Tire Pressure Management Systems (TPMS) in 2007 through Federal Motor Vehicle Safety Standards 138 in United States, demonstrated the nation's commitment to preventing under-inflated tires and the associated safety risks.
• Advanced TPMS technologies have emerged, such as Infineon's SP 40+ tire pressure sensors and Tech USA's U-Pro Hybrid 2.0 TPMS sensor showcase the industry's commitment to refining and cost-effective solutions.
• Increase in vehicle ownership and motor parts production has fueled the demand for TPMS. With new fuel economy standards in place, requiring continuous improvement in vehicle efficiency, TPMS systems play a pivotal role in achieving fuel economy targets by ensuring proper tire inflation.
• According to Ken Research, the US Automotive Tire Pressure Management System market is expected to reach $6 billion, by 2028 owning to government policies ensuring the TPMS system is installed in every personal & commercial vehicle.

1. How TPMS Revolutionized Vehicle Performance

Click to know about the government policies

Proper tire pressure is crucial for ensuring a vehicle’s safety, efficiency, tire longevity & overall performance. United States was one of the first countries who recognized this. Therefore, in 2007, it became one of the first countries which mandated the use of tire pressure management systems (TPMSs) through the Federal Motor Vehicle Safety Standards 138, in 2007. This standard specified performance requirements for tire pressure monitoring systems (TPMSs) to warn drivers of under-inflation of tires and the safety problems which can occur due to lack of it.

2. Revolutionizing Tire Pressure: Advanced TPMS Technologies for Safer, Smoother Rides

Click to read more about Direct & Indirect TPMS

Various forms of direct TPMS & indirect TPMS technologies have emerged in the US which have led to improved accuracy, reliability & increased user-friendliness. Companies like Infineon are developing SP 40+ tire pressure sensors for tire pressure management, which alerts the driver whenever there is under-inflation in the tires, which might lead to inefficient driving conditions.

Tech USA is another leading company which offers tire pressure management solutions to individuals & organizations. Their TPMS solution involves U-Pro Hybrid 2.0 is the first Dual Frequency, Configurable & Programmable TPMS sensor. Consumers are more likely to adopt technologies which are more refined and cost-effective.

According to Ken Research, the US Automotive Tire Pressure Management System market is expected to reach $6 billion, by 2028 because of government policies ensuring the TPMS system is installed in every personal & commercial vehicle.

3. Driving Safety Surge: TPMS Demands Accelerates with Rising Vehicle Ownership

Click to Download a Free Sample Report

A thriving industry can easily explain high amounts of adoption of TPMS. Till March, 2023 75% of the US population is reported to have access to their own cars, with an additional 20 percent having access to a company or a family car, and US motor & vehicle parts production shot up by 7.8% in April, 2023.

In this scenario of increased motor parts production & increasing vehicle ownership, there is high chances of increase in demand for safety features like TPMS is likely to follow suit.

4. Rolling Towards Efficiency: TPMS Paving the Way for Fuel Economy

Visit this Link: – Request for custom report

Proper tire pressure is a crucial component of maintaining fuel efficiency. The federal highway regulators in the United States have announced new fuel economy standards which will require cars to improve their fuel economy by 2% and light trucks by 4% each year, till 2032. With a growing emphasis on fuel economy, TPMS systems can play a role in achieving fuel efficiency by ensuring that the tires are properly inflated.

5. Rev Up Savings: Get a Tire-ly Good Deal with TPMS Equipped Cars

Request free 30 minutes analyst call

In the United States, if you have purchased a car or any light duty vehicle under 10,000 lbs (4536 kg), manufactured after 1 September, 2007, the car is likely to have TPMS system installed within it. Few insurance companies, such as Progressive Insurance in the United States offer discounts when a vehicle is equipped with advanced features like TPMS. This can play a role in incentivizing consumers who choose to equip their vehicles with these systems.

Conclusion

The evolution of Tire Pressure Management Systems (TPMS) has significantly transformed vehicle performance and safety. Direct & indirect TPMS technologies has not only improved accuracy and reliability but also enhanced user-friendliness. As vehicle ownership rises and industries flourish, the demand for TPMS is set to increase further, driven by its critical role in ensuring safe driving conditions and optimizing fuel efficiency. With incentives from insurance companies and upcoming fuel economy standards, TPMS stands as a vital component in the journey towards safer, more efficient, and environmentally conscious driving experiences.

US Kidney Cancer Therapeutics and Diagnostics Market Expected to Reach 3 Bn US$ By 2028: Ken Research

 The US Kidney Cancer Therapeutics and Diagnostics Market is poised for a steered growth due to rise in cases of kidney cancer, an increase in success rate of targeted therapies, expansion of hospitals and NCI- funded cancer centers, and constant growth in population.

Story Outline

• Rising cases of Kidney Cancer due to today’s drastic lifestyle changes, environmental exposures to certain harmful chemicals, obesity, and poor diet is propelling the growth of US Kidney Cancer Therapeutics and Diagnostics Market.
• Targeted therapy is emerging as a key therapy to treat kidney Cancer and related diseases. As it directly targets molecular and genetic abnormalities and provides increased success rate and patient satisfaction.
• Expansion of Hospitals and NCI-funded cancer centers are helping patients to get advanced treatment at affordable rates which is also fueling the growth in the market.
• Increasing pool of patients is witnessed due to constant growth in the population of US. The rise in patient pool increases the demand for treatment and diagnostics services, resulting in increased demand for innovative technology and treatment advancement, thus fueling the market’s growth.

US Kidney Cancer Therapeutics and Diagnostics Market is expected to grow at a CAGR of 5% in the forecast period (2022-2028) and is being driven due to rise in cases of kidney cancer, an increase in success rate of targeted therapies, expansion of hospitals and NCI- funded cancer centers, and constant growth in population. This article will provide information about the growth drivers of the US Kidney Cancer Therapeutics and Diagnostics market in detail.

1. Rising incidence of Kidney Cancer cases is giving US Kidney Cancer Therapeutics and Diagnostics Market a promising growth

Click here to read full article: US Kidney Cancer Diagnostics Technology

The increasing cases of Kidney Cancer in US is seen as a significant factor in propelling the growth of the Kidney Cancer Therapeutics and Diagnostics Market. The visible rise in Kidney Cancer cases is increasing the demand for advanced solutions. This results in a symbiotic relationship between diversification of patient pool and market’s development.

In 2022, out of around a total of 1,918,03 cancer cases of all types approx. 79,000 cases were of kidney cancer (50.290 male 28,710 female), deaths from kidney cancer were around 14,000. According to The American Cancer Society's recent estimates, in 2023 81,800 adults (52,360 men and 29,440 women) in the United States will be diagnosed with kidney cancer. The total number of deaths is estimated at 14,890 (9,920 men and 4,970 women).

In US, kidney cancer is considered the sixth most common cancer in men and the ninth most common cancer in women. The average age at which people are diagnosed with kidney cancer is 64, most of the people diagnosed with kidney cancer are of age between 65 to 74. The average 5-year survival rate for kidney cancer in US is around 77%.

Today’s drastic lifestyle changes, environmental exposures to certain harmful chemicals, obesity, and poor diet seem to be the most common reasons for the gradual growth of kidney cancer in today’s world. These lifestyle changes if ignored for a long time, are taking a toll on our health thus increasing the risk and cases of diseases like kidney cancers which propels the growth of Kidney Cancer Therapeutics and Diagnostics Market.

2. Is the success rate of targeted therapy overcoming the demand for other therapies for Kidney Cancer treatment in US?

Click here for Download a Free Sample Report

Targeted therapies are becoming a pivotal growth driver of the US Kidney Cancer and Therapeutics Market, due to their effectiveness and increased patient satisfaction rate. The targeted therapy specifically targets the underlying molecular and genetic abnormalities that fuel the growth of kidney cancer. By altering the side effects by traditional chemotherapy and delivering improved treatment outcomes.

The Cohot study shows that targeted therapy for Kidney cancer or Renal Cell Carcinoma (RCC) has shown increased tolerability and survival rates as compared to non-targeted therapy treatment. Seeing these positive results from targeted therapy, the Food and Drug Administration has approved 12 targeted therapies for the treatment of Kidney cancer since 2005.

The continuous growth of targeted therapies' precision and effectiveness have not only enhanced patient satisfaction but also fostered substantial growth in the US Kidney Cancer and Therapeutics Market. As the research continuous leading to the innovation of new therapies and markets expansion.

3. Expansion of hospitals and NCI-funded cancer centers helping the patients with better treatment opportunities

Visit this Link: – Request for custom report

The growth of the Kidney Cancer Therapeutics and Diagnostics Market is closely related to the expansion of hospitals and medical centers. They play a critical role in the treatment, diagnosis, and supportive care of the diagnosed patient.

There are around 900 hospitals for treating cancer in US. The best cancer hospitals according to US News and World Report in its annual ranking of American Hospitals are, The University of Texas MD Anderson Cancer Center, The Memorial Sloan Kettering Cancer Center, and Mayo Clinic. The US News and World Report ranks hospitals according to the criteria such as 30-day mortality, 30-day readmission, and how long patients tend to stay in hospital.

There are around 72 National Cancer Institute (NCI) designated Cancer Centers, located in around 36 states and the District of Columbia, that have met the standard of care according to NC. Out of these 72 institutions, 11 are Cancer Centers, 54 are comprehensive cancer centers, and 7 are basic laboratory cancer centers. These cancer centers are funded by NCI to deliver cutting-edge technology and advanced treatment care to patients.

Each year approximately 2,50,000 patients receive their cancer diagnosis at NCI-funded cancer centers and thousands of patients are enrolled in clinical trials for cancer at NCI. These NCI centers also provide public education and outreach campaigns on cancer prevention screening and early diagnosis. These NCI centers have worked hard for decades and have increased the number of cancer survivors in Us and have improved patient's life immeasurably.

The growth of hospitals and cancer centers in US supports Kidney Cancer Therapeutics and Diagnostics Market by improving access to advanced technology diagnostics, and patient care ultimately driving market growth.

4. Constant population growth in US, leading to large patient pool and an increase in need for advanced treatment and diagnostics technologies

Request free 30 minutes analyst call

An increase in population has continuously contributed to the growth of the Kidney Cancer Therapeutics and Diagnostics Market. As there is a larger pool of potential patients which leads to increased demand for Kidney Cancer and Diagnostics services and treatment options. With a large patient base, pharmaceutical companies and medical product manufacturers are encouraged to invest more in research and development of diagnostic tools and innovative therapies.

According to the data the population of US as of 2022, was approx. 336 million; and around 330 million in 2021. The population growth rate of US in 2022 was around 0.38% as compared to the growth rate in 2021 at around 0.30%. As of 2023, the growth rate is 0.50%.

A larger population allows a broader recruitment pool for clinical trials too, enabling the validation of new treatment modes. Overall, the expanding population is not only driving the growth of US Kidney Cancer Therapeutics and Diagnostics Market but also fuels innovation in the market at a continuous level.

Conclusion

The escalating cases of kidney cancer in the US have created a dynamic synergy that drives the growth of the Kidney Cancer Therapeutics and Diagnostics Market. The visible rise in cases intensifies the demand for advanced solutions, spurring investment in research and development. Targeted therapies emerge as a game-changer, offering precision and effectiveness, while the expansion of hospitals amplifies patient access to cutting-edge diagnostics and treatments. With a steadily increasing population contributing to a larger patient base, pharmaceutical advancements, and research collaboration thrive. As the market evolves to meet these challenges, it stands poised for continuous development, bolstered by innovations that improve patient outcomes and redefine the landscape of kidney cancer care.

US Acute Myeloid Leukemia Market Expected to Reach 1 Billion US$ by 2028

 Buy Now

The US Acute Myeloid Leukemia Market is poised for a steered growth due to advancement in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.

Story Outline

• Advancement in treatment approaches such as targeted therapies, checkpoint inhibitors, personalized medicines, and immunotherapies, help to enhance treatment efficiency along with minimizing the side effects of the particular treatment and drives market growth.
• Rise in healthcare cost and expenditure led to a rise in number of medical insurers which decreases financial barriers and provides cost-effective treatments to AML patients.
• Increased investments in research and development leading to new and innovative product launches and advanced treatment options, which increases consumer satisfaction hence leading to market growth.
• Increased population growth in US led to an increased number of Acute Myeloid Leukemia cases, resulting in higher demand for treatment options, diagnostics services, and supportive care.

US Acute Myeloid Leukemia Market is expected to grow at a CAGR of 10.5% in the forecast period (2022-2028) is being driven by advancements in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population. This article will provide information about the growth drivers of the US Acute Myeloid Leukemia market in detail.

1.Advancement in treatment approaches leading to high patient satisfaction, survival and remission rates.

Click to read full article: US Acute Myeloid Leukemia growth rate

Acute Myeloid leukemia is one of the most common types of Leukemia in adults. Acute Myeloid Leukemia represents 1% of all the new cancer diagnoses found annually in US and has a five-year survival rate of around 29%.

The rising cases of Acute Myeloid Leukemia in US is expected to drive growth in US Acute Myeloid Leukemia Market. According to the American Society of Clinical Oncology in 2021, around 20,250 people (11,230 men and 9,010 women) were diagnosed with Acute Myeloid Leukemia. The American Cancer Society estimates 59,600 new cases and around 23,709 deaths from leukemia of all kinds in 2023.

Advancements in treatment approaches are really important to the US Acute Myeloid Leukemia Market. The innovations such as targeted therapies, checkpoint inhibitors, personalized medicines, and immunotherapies, help to enhance treatment efficiency along with minimizing the side effects of the particular treatment.

By personalizing therapies to patients' molecular and genetic profiles, it is seen that treatment outcomes improve, leading to high patient satisfaction, survival, and remission rates.

With the help of these technologically advanced treatments around 60%-80% of adults of age 60 years or younger and around 50% -65% of those who are above the age of 60 achieved complete remission after receiving the treatments.

The positive impact of these outcomes motivates physicians to utilize these advancements to the utmost. This in return attracts more investment in the US Acute Myeloid Leukemia market.

2.Increasing number of medical insurers providing affordable treatment options to patients, driving the growth of US Acute Myeloid Leukemia market.

Click here: To Download a Sample Report

The rise in healthcare expenditure in US is majorly contributing to US Acute Myeloid leukemia Market of US. As the spending on healthcare increases the diagnosed patients get easy and greater access to advanced diagnostics tools, specialized treatments, targeted treatments, and therapies.

There is seen a sudden rise in healthcare expenditure because of the rise in cost of healthcare facilities in US. The record from 2001-2022 shows that the cost of healthcare and medical services has grown at a Consumer Price Index (CPI) of around 3.6% and the CPI of goods and services has grown around 2.6%.

This shows that the cost of healthcare and medical amenities increases at a faster rate as compared to the cost of other goods and services.

US has highest healthcare costs in the world, with an average of around $12800 per person. As noted in 2021, around 300 million people i.e., over 91% of the population of US have access to health insurance with an assortment of both public and private sector insurers.

More people with medical insurance means improved access to healthcare services without being burdened by the full cost of treatments like Acute Myeloid Leukemia.

This will also lead to an increase in clinical trials and will help advance research and development bloom leading to improved treatment adherence and growth of the Acute Myeloid Leukemia market in US.

3.Does investment in research and development enough to drive market growth?

Click Here : To Download a Custom Report

With a large number of companies involved in the Research & Development process and new product launches, the US Acute myeloid Leukemia Market is expected to drive growth in the forecast period 2022-2028). By investing in R&D, major pharmaceutical companies and research institutions constantly strive to discover new therapy agents, effective treatment approaches, and novel drug compounds for AML patients.

Researching industry accounts for around 70% of US medical and health investment in R&D in 2020. Federal government investments account for nearly one quarter (25%) and the National Institute of Health (NIH) alone accounts for around 20% of all such investments in 2020, out of all medical and health R&D.At this level, NIH stands as the second largest funder in terms of investment in medical and health research after the biopharmaceutical industry.

The new product launches, for instance, in December 2017, Pfizer announced that the Food and Drug Administration (FDA) of US approved Bosutinib for the treatment of patients with chronic myelogenous leukemia (CML).

Similarly, in January 2020 Bristol Myers Squibb received the US FDA’S approval for Onureg for the treatment of adult patients with AML. Moreover, Novartis AG is developing a combination drug (MBG453, Venetoclax, Azacitidine) for the treatment of Acute Myeloid Leukemia, which is in phase 2 of clinical trials. Such positive initiatives for product launches and developments are supporting the growth of the US Acute Myeloid Leukemia Market.

4.Population growth leading to increased AML diagnosis, thus giving rise to the demand for treatment options, diagnosis services, etc., benefitting market growth.

Click here: To know more about healthcare expenditure of US

Acute Myeloid Leukemia is noted as one of the most common types of Leukemia, and its diagnostics are rising globally at a fast rate. Talking about US the constant rise in population in the region is one of the most common reasons of increasing Leukemia cases, which can drive growth of US Acute Myeloid Leukemia Market of US at an expected CAGR of 10.05% in the forecast period (2022-2028).

According to the data the population of US as of 2022, was approx. 336 million; and approx. 330 million in 2021. The population growth rate of US in 2022 was around 0.38% as compared to growth rate in 2021 at around 0.30%. as of 2023, the current growth rate is 0.50%.

As the population of US is rising constantly, the number of Acute Myeloid Leukemia cases are also rising, which results in increased demand for better treatment options, advanced diagnostics services, and supportive care.

The huge pool of patient growth not only led to increase the demand of already existing treatments but also implements the use of research and development to discover more effective therapies.

This demographic shift demands urgency, accessible and advanced treatment options which ultimately bolster market growth creating a multifaceted demand for Acute Myeloid Leukemia related services, which drives market growth and initiates advancements in research and treatment.

Conclusion

The US Acute Myeloid Leukemia (AML) market is poised for substantial growth driven by multiple factors. Advancements in treatment approaches, such as targeted therapies and immunotherapies, are enhancing treatment efficiency while minimizing side effects, leading to higher patient satisfaction and improved outcomes.

Increased investments in research and development are resulting in innovative product launches and advanced treatment options, further boosting market expansion.

Additionally, the constant growth in the US population is driving higher Acute Myeloid Leukemia diagnoses, creating a strong demand for improved treatment options and diagnostics services. Overall, these dynamics are projected to propel the US AML market towards reaching an impressive 1 billion US dollars by 2028.

The US Automotive Paints & Coatings market is expected to become ~USD 3.3 Bn. Industry by 2028

 Buy Now

The United States Automotive Paints and Coatings market which currently has a market size of ~USD Bn. is anticipated to grow at a CAGR of ~9.5% in between 2022-2028 as per the findings of Ken Research.

STORY OUTLINE

• Rising production and sales of automotive vehicles increase the demand for automotive paints and coatings as the vehicles have to be painted.
• Increasing accidents and collisions also increase the demand for automotive paints and coatings as the vehicles have to be painted after being repaired post-accidents.
• Technological advancements in the field of paintings and coatings such as UV curable coatings, E-coat, Robotics and automation, Additive Manufacturing, and Electrochromic coatings also accelerate the US Automotive Paints and Coatings market.
• Rapid pollution caused by automotive paints and coatings allow the market to further develop such paints that cause lesser pollution which ultimately leads to the growth of US Automotive Paints and Coatings market.

A fast growing industry, rising sales of vehicles, technological advancements, and rising accidents along with rising pollution caused by automotive paints and coatings are the various reasons responsible for the growth of US Automotive Paints and Coatings market. This market is anticipated to grow at a CAGR of ~9.5% in between 2022-2028.

• Rising total vehicle sales in the US: raising the demand for Automotive paints & coatings

Download a Sample report of US Automotive Paints and Coatings Industry

Automotive paints and coatings are primarily used in automobiles. Each vehicles whether heavy or light or electric or automotive needs to be painted and coated. For such purpose, wall paints or regular paints cannot be used. For the purpose of painting vehicles, only automotive paints can be used that are specifically designed to be painted on automobiles.

In 2018 and 2019, almost 17 million automotive vehicles were sold each year. However, 2020 saw a sharp decline in the sale of automotive vehicles due to the arrival of covid-19 pandemic. In 2020, only 14.5 million automotive vehicles were sold.

In 2021, the number again started to increase as the covid-19 slowed down. In this year, almost 16 million vehicles were sold. Lastly in 2022, approximately 15 million vehicles were sold.

As the automobiles are manufactured and sold, the demand for automotive paints and coatings also increase as these paints and coatings are to be used in every automotive and vehicle that is manufactured and sold.

Thus, the rising sales of vehicles in the country results in an increased demand for automotive paints and vehicles which ultimately contributes in the growth of US Automotive Paints and Coatings market.

• Rising accidents and collisions results in requirement for repairing which uses automotive paints and coatings.

The number of accidents and collisions have been rising in the United States. When vehicles meet with accidents and collisions, they need to be repaired. And, the process of repairing them use automotive paints and coatings.

Almost 1 in every 63 people have a chance of getting in an accident in the US as per the data of 2020. Out of 163 accidents, 1 turns out to be fatal which means there are 0.7% chances of an accident turning out to be fatal.

Speaking of accidents by vehicles type, then Passenger cars tend to cause most of the injuries (54%) followed by a SUV (21%), and trucks (10%). In 2020, there were at least 5,250,000 car crashes which means on an average, 14,000 car accidents happen daily.

All these numbers are very high and when there are so many accidents happening, the demand for repairing the vehicles also rise. And automotive paints and coatings are widely used in the task of repairing vehicles. This results in heavy demand for automotive paints and coatings which ultimately acts as a driver of the US Automotive Paints and Coatings market.

• Technological advancements: a boon for US automotive paints and coatings industry

Download a Custom Report of US Automotive Refinish Market Analysis

Technology also plays a great role in the growth of the US Automotive paints and coatings market. There are various technological advancements in the field of automotive paints and coatings that make the task of painting a vehicle easier and quicker.

Some of the technologies that are widely used in the process of painting and coatings of vehicles include UV curable coatings, E-coat, Robotics and automation, Additive Manufacturing, and Electrochromic coatings.

UV curable coatings are very fast drying paints. This technology has changed the process of applying automotive paints and technology. Usually, it takes a lot of time for the paints to dry. But with this technology the paints or coating dries very quickly due to the use of UV light.

E-Coat, or otherwise known as Electrodeposition Coatings is a technological advancement that works by immersing the automotive in an E-coat tub and the paint is applied on the vehicle with the help of electric charge.

The usage of robotic systems in automotive paintings and coatings is another technological advancement in this field. These systems or robots generally have an arm which can move in all the angles horizontally and vertically to apply the paint. This methods happens to be very precise and provides full coverage with minimizing wastage.

Additive Manufacturing is another technology that is primarily used to create designs and patterns on vehicles. This technology is really great for those who want to customize their vehicles. It is also known as 3D printing. General Motors is a very famous example of a company who uses this technology.

Electrochromic Coatings is another technology that allows the paint to change its color when an electric stimulus is used. The color change usually takes place due to oxidation.

These were some of the various technological advancements that are used in automotive paints and coatings industry. These technologies make the work of painting easier and quicker which ultimately helps in the growth of US Automotive paints and coatings market.

• Rising pollution caused by Automotive paints and coatings:

Pollution caused by automotive paints and coatings is a dark side of the US automotive paints and coatings industry. Every year, lots of waste is generated through these paints which put a great negative effect on the atmosphere and our lives.

In fact, about 80-90% of all the pollution that is caused by automotive manufacturing comes from the painting and coatings only.

Furthermore, paints and coatings are known to form at least 55% of the micro-plastics in the water bodies. This high amount of micro-plastics pollute the environment and water bodies making it very difficult for the sea animals to survive and thrive.

Lacquer paint is widely used to paint automobiles but is not at all sustainable. In fact, almost 85% of this paint evaporates in the air causing air pollution.

These paints also tend to have a very high VOC which is an initialism for volatile organic compound which simply means that these paints tend to vaporize very quickly polluting the environment.

Waste disposal, air pollution, water pollution, and high VOC are the various down sides of using traditional automotive paints and coatings. However, these disadvantages only accelerate the US Automotive Paint and Coatings market as now it has become very important to develop such paints and coatings that do not pollute the environment. This need to develop low pollution causing paints and coatings becomes a growth driver for the US Automotive Paints and Coatings industry.

CONCLUSION

The US Automotive Paints and Coatings market is primarily concerned with the painting of the automobiles. There are various reasons responsible for the growth of US Automotive Paints and Coatings market such as high automotive vehicles sales, rise in accidents and collisions, technological advancements and pollution caused by automotive paints and coatings. As per Ken Research, this market is anticipated to grow at a CAGR of ~5% in between 2022-2028.

The US Expandable Polystyrene (EPS) market is projected to produce 430 Kilotons Polystyrene by 2028

 The United States Expandable Polystyrene industry which currently has a production capacity  370 Kilotons is anticipated to grow at a CAGR of ~2.9% in the next five years as per the findings of Ken Research.

STORY OUTLINE

• Increasing construction and building processes increase the demand for ESP as it is to be used in areas of thermal insulation, sound proofing, concrete formwork, etc.
• Rising sales of automotive vehicles also raise the demand for ESP as it is typically used for seat cushioning, interior trim components, head impact protection, etc.
• Rising customers’ demands for sustainable packaging also increase the demand for ESP as it is an environment friendly product.
• Rapid urbanization means more e-commerce automotive sales and construction process which all ultimately accelerate the demand for ESP.

A Fast Growing industry, rapid construction processes, rising automotive sales and rapid urbanization along with increasing customers’ demands for sustainable packaging are the various reasons contributing to the growth of US Expandable Polystyrene market. This market is expected to grow at a CAGR of ~2.9% in between 2022-2028.

Click to read more about US Expandable Polystyrene (EPS) market

1. Rising construction processes: accelerating the US Expandable Polystyrene market

Click to read more about contribution of construction in US EPS market

Buildings and construction processes are a huge user of Expandable Polystyrene (EPS). In constructions and buildings, this compound is used in various areas such as thermal insulation, sound proofing, concrete formwork, roofing systems, acoustic insulation, pre-fabricated panels etc.

The construction processes in the United States are on high rise considering the fact that US is a developed nation. We can also understand this by taking a look at the total amount spent on constructions over the past four years in the US.

Speaking of Residential construction, ~USD 0.8 million, ~USD 1 million, ~USD 1.2 million and ~USD 1.5 million was spent in 2019, 2020, 2021, and 2022 respectively.

For Non-Residential construction, ~USD 1.8 million, ~USD 2 million, ~USD 2.5 million and ~USD 3 million was spent in 2019, 2020, 2021, and 2022 respectively.

For Public construction, ~USD 3.8 million, ~USD 4.2 million, ~USD 5.5 million and lastly ~USD 6 million was spent in 2019, 2020, 2021, and 2022 respectively.

As the construction in the country rises, the demand for Expandable Polystyrene rises as it is to be used in various areas of building also, which helps in the growth of the US Expandable Polystyrene market.

2. Rising automotive vehicles: rising the demand for EPS in the country

Click to read more about how automotive vehicles rise the demand for EPS

Automotive vehicle industry is another area where there is a high use of Expandable Polystyrene. This is primarily due to the fact that EPS is used in various areas of automotive vehicles such as seat cushioning, interior trim components, head impact protection, Instrument panels, child car seats, acoustic insulation, sun visors, cavity filling, etc.

Automotive vehicles are on rise in the United States. Almost 92% of the households in the US have at least 1 automotive vehicle. Moreover, US have always sold automotive vehicles equal to or more than 14 million.

For instance, in 2018, there were ~17.25 million automotive vehicles sold. In 2019 as well, approximately 17 million automotive vehicles were sold. US witnessed a sharp decline in the sale in 2020 considering the global pandemic. In 2020, almost 14.5 million automotive vehicles were sold.

In 2021, the number again started progressing and almost 16 million automotive vehicles were sold. Lastly in 2022, again, almost 15 million automotive vehicles were sold.

With the rising sales of automotive vehicles, the demand for Expandable Polystyrene also increases since it is used in many areas of vehicles. The rising demand for EPS ultimately contribute to the growth of the US Expandable Polystyrene market.

3. Rising sustainable packaging: making use of Expandable Packaging

Click to read more about how sustainable packaging pump the US EPS market

The awareness regarding sustainable packaging is rising in the United States. Nowadays, customers are keen in ensuring that their products have sustainable packaging used even if it is costlier than the normal packaging.

In fact, 60-70% of the US buyers have no problem in paying higher price if it is getting them sustainable packaging. Even in the Covid-19 pandemic, more than 55% of the US buyers revealed that the chances of them buying a product are more if it has sustainable packaging used.

More than 70% of the US population states that they want to change their buying habits and shift towards the products that make use of sustainable packaging. And thus, more than 65% of the people think that it is extremely important for the environment that their products are in sustainable packaging.

The growing customers’ demands of sustainable packaging increase the demand for Expandable Polystyrene thereby contributing to the growth of US Expandable Polystyrene market as this compound is environment friendly.

This is primarily due to the fact that this compound has higher durability and provides resistance to moisture meaning it can be used over and over, which means it can be recycled. Moreover, due to its amazing thermal insulation, it also helps in saving energy by reducing the requirement of heating and cooling in the buildings.

4. Rapid urbanization: boosting construction, E-commerce and automotive vehicles

Click to read more about how urbanization contribute to the growth of US EPS market

The urbanization is increasing every year in the United States. In 2000s, 79% of the population was living in urban areas and 21% were living in rural areas. In 2010s, the number rose to 81% of the population living in the urban areas and 19% living in the rural areas. Currently, 83% of the population is living in urban areas and 17% of the people are still living in rural areas.

In 2030s, this number is projected to become 85% of the people living in urban areas and only 15% living in rural areas. In 2040s, we will have 87% of the people living in urban areas and only 13% living in rural areas. Furthermore, in 2050s, we will have 89% people living in urban areas and only 11% living in rural areas.

With rapid urbanization, the construction processes nationwide also increase. The E-Commerce also increases which ultimately increase the work of the packaging industry. Moreover, with rapid urbanization, the demand for automotive vehicles also rise which results in high sales of the automotive vehicles.

Since automotive vehicles, packaging and construction processes use Expandable Polystyrene as a key element; thus, the rapid urbanization ultimately helps in accelerating the US Expandable Polystyrene market.

CONCLUSION

Expandable Polystyrene (EPS) is a type of lightweight cellular plastic which is used in various fields such as building and construction, automotive vehicles, and sustainable packaging. Hence, the rise in automotive sales, rapid construction processes, and customer’s demands for sustainable packaging along with rapid urbanization are the various reasons that drive the US EPS market. As per Ken Research, this market is expected to grow at a CAGR of 2.9% in the next five years.